Evening Star Newspaper, February 25, 1931, Page 14

A—14 w%» FINANCIAL. THE EVENING STAR. WASHINGTON, D. C, WEDNESDAY. FEBRUARY 25, 1931. FINANCIAL. e e THE BEVENING STAR, 'WABHINGION, D. C., WX " GASOLINE REVENUE || NEW YORK STOCK EXCHANGE | BONDS ARE STEADY | (= wox BONDSmomssamms] [RALWAY EARNINGS Received by Private Wire Direct to The Star Office I Received by Private Wire Direct to The Star Office. lN UIE.l. TRAI]'N[; 5 R R e ot srar, e Lo e g N % S 8as are in $1.000.) Nat Dairy 514848, 45 = 31 Stock and Sal 4 3 . [Nat Rad 6%s '47. 3 17 = DIVE H S it 1) | g Tow " Dividend Fate. Add 00 High Low. Clo Libays.... 20 e N i i L N Y Tel 4%s 39 B 103 h! Y'l:elss 41 . 2 Iiifi:. 5T 5 42 Nor Arm 50 $u'é7 104" Further Revision in Dividends Nor 0T AL 65 : loiw tose| E ted to Follo r 3 s « 10o%! Expected to Follow Slack Nor St Pw 6s B '41. v 107 . PacG & FI5s"42. .. 2% Business. Pac T&T 18t v Pac T&T ref 5s 5 Pan-Am Pet 63°31.. 6 2u4 | BY CLAUDE A. JAGGER, 1 | —Prev. Stock and Sales— prev | 13 73 Revere Copper & Br. 5 124 121 Sibletiia.. selosey 10225 High. Low Dividend Rate. Add00.High. Low. Close.Clom. | 20 11% ReynoldsMetals 2). 15 20 184 20 194 b 4th 4K 5. 39 10821 3 103 13 44% 35 KansCitySou (5)... 7 44% 43 43 43 10 9 Reynolds Spring. 2 4 e Tw T A S 33843, 129 101 14 100 29 23% 16% Kayser Jullus (236). 59 298 231, 7513 70 Reynolds Tob A (3). 10s 3% 73w 7% |Foreign Dollar Group Is Fea-|Y$ Pt 15 10117 101 14 Reports Reveal Extent to 2% 1% Kelly-Spring.Tire... 63 2! 215 4T'% 40% Reynolds Tob B (3). 47 AT 4T 9 P A Sl i L R . 36 35 Kelly-Spr T 6% pf 1 36 368 | 23 Richfield Ofl. .. w4 s . f S <96 10TS 10681 10621 Which States Have Shifted | 1sx s iceniy-spr 8% ot - ! 16 5% Rio Grande'Oil. 8% 8% ture—Junior Domestic UStrs 52, ‘3 11030 11019 11019 284 21K Kelsey Haves (2). 290 2 9 2% 3m RosaiDuteh i3l 13 dow 40° 0" iim List Lower. FOREIGN 14 8% Kelvinator Corp. 3 % 18 Royal' Butch m ? 4 ISt Lower. = Tax Money. 3113 22% Kennecott Cop (2).. 127 3 29 29 ! 38% Safeway Stores (5).. WS ORI Dowi e 70 51, Khlmey (GR) pf (8) 808 30% 24% St Jos . e Argentine May '61. 3 ::;1 :;H £ % Kolster Radio...... 148 ¢ 2 ) 7 4 b Argentine 514 . Epecial Dispatch to The Star, % 15 Kolster Radio ctf: 16 637 St L-San Fran pf (6) i p BY F. H. RICHARDSON. Argentine 6s L9 91m 91y NEW YORK, February 25.—The| 277 25 Kresge (SS)Co160. 1 . 3 23 St L Southwesfern. . p ki “» | Special atch to The Star Argentine 63 O American taxpayer, whether or not he| 26'% 20% Kreuger & T (a1.60). 2 3 Savagze Arms (2).. 2 NEW YORK, February 25.—Bonds |Argzentine 6s A ol be in.| 28 18 Kroger Groc&Baki1) ner motor car, will be in- oo Boprmgihunbesigs 86% 77 Lambert Co (3) terested in the sharp comment and the | "4 ¢ g pambert Co (S convincing statistics that were preseni-| 184 13% Leh PortCmt (1) ed both by the American Petroleum| 61 53 Ieh Valley (312) 8% 6% Leh Vallev Coal. Institute and the official organ of the | gqit i’ e on!cw o0 Standard Oil Co. of New Jersey indi- 24 Lehn & Fink (3). cating the extent to which gasoline| 15'% 11'% LibOw Ford Glass 9 7 B Myer ¢ . taxes are being divericd from their| gl 7 [iEEelt®Mver (t5) primary purpose of highway develop-| 33s, 2315 Lima Locomot (m2). ment. 3 284 Link Belt (2.40). 1 3 55% 41% Liauid Carbonic (4). It is shown that in the past five vears| oSt 1% Liauld Carbont nearly $90.000.000 of the gasoline taxes| of collected have been employed for public [ *F &3, Josws pfxw (61 improvements as far removed from road | ¢y (A [omcanwiies (+270) Paramount 6s "4 Pathe Exch 7s 37 Phila Co 53°67. Pnila & Read 6s Phila Pet 51,339 Associated Press Financial Bditer. NEW YORK. February 25—A surtey of railway earnings in 1930. together | with estimates of the results of the cur- e rent year. give some palpable reasons ;’,:)';‘.".‘e'; J’:‘C 5 | for the concern of railway Minterests over - Lo e 4 4.1 increasing competition from other forces is 67 of transportation. Three railways have already post- Bl Dbt poned action on their current dividends ek LI and_a considerably larger increase in ch Oll cal €3 '44. . traffic than now seems in prospect will Shell UnON 5847, 9 845 be required to insure the permanency Sinclair Oil 6%45°38 . 95 of dividonds on the issues of more than Sinc O 7scv A'27 99 half a dozen others. Sinc CrO 53%s°38. . E o Carriers Have Large Reserves. SW Bell T 58 A '54. & 6 3 In fact, a statistical service recently StOII N J 58°46.... 20 103 3 stated that of the major carriers, only StOIINY 43851, four seem sure to earn their dividends a ’ n 1931. Of course, earning and paying e e AT . are different things, and many of the A 54 major systems are well enough fortified Unit Drug cy s "3 9 99 with cash to continue regular payments USRub 18t55'47.. 12 ‘%[ to_their stockholders in a lean vear. Utah P & L While the carriers have recently at- 711 Pow 5 58 74' | tained an operating efficiency better Util Pow 5 than ever before experienced, there is much that can still be done to mod- Warn Quin 6339, .. 6 ment. Railroads have clear- Warner Sug 7s P oped as rapidly in scientific Schulte Retall Strs 5 held steady today. with the bulk of the | Argentine 6x B’ aboard Air Line. K inquiry in" the foreign dollar division. |Australia 4}%s'56. Seab Air Line pf.... » There has becn a noticeable turning [ Australia 55 's grave (60c) . 2 % | away from bonds since stocks picked up | Australia 5s'57. Sears Roebuck 12% .. 34¢ 2 activity, not because of any general fear | Austria 7s'43. ey that the public's interest will turn to | Bk of Chile 6% econd Nat Inv pf. equities again, as it did in 1929, but be- | Bk of Chile 6% 5 '61 s Coyper : 1| cause of the indications of a tighter | Batav Pet 415 *42. Servel Inc Sharon Steel Hoop. arp & Dohme. . —atere=h PubSv G 4l25°70. . Rem Arms 6s A *37. trend in money Belgium 68 Time money rates have shown no A Belgium 63:s 49 y . _day | Belgium 7s . : A a sharp drop from the lower rate and vin 78 . A . 4 ‘ith | Bolivia 8845 Simmons Co..... pare of e Mg Surois of hinds that | Bordenus ReaTe Gob ot (- s has up fo now aseured the continuance | Tzl £33 building as the erection of puolic audi-| a1t 173 [o0ara (1 Co. inclair Ol pf (8). .. O B i o £ Brazil 7s. toriums, the support of fish hatcheries, | g T pollane (C0 kelly OIl. ... . 91, en the market has to face $100.-| o, o5 the building of schools and sea walls,| 55 507 yiouicoil pf (6155 o 50% 50N s Skelly Oil pf (6).... 5 5214 “fl;'<0°0 f;\f 4% per cent bonds to be|gra®l " b the elimination of grade crossings, the | a7 57 oUG% i T 4 90/ Solv Am prww 5% .. 94%% 9 925 | scld by, e oix GLy rerbiweek el prtheiy Teduction of property assessments and | 117 aqu 1. . : 2’ Sou P Ric Sug (1.40) “M‘;]-chn.:-p{finl;jingr;i;'g’:‘;m e Sesits | Canada 6 8 for porl expenses. One Southern State’) 'jga outh Cal I P 1 i g . > os now has in contemplation the diversion outh Dairies B 2 s |was that Unifed States Government |Chile 6560 soli 25 9 MacAn& 241, 2415 i 5 >acific (6 bonds had a declining tendency. though | Chile 6s'61 of a portion of its gasoline tax for : Tt : . outh Pacific (6). a i) gh | C 161 in a number of municipalities and coun- | 34 McCrorv A (2).... 5 9 ;49 - - e tion issues, ver, re- |C ALl Diversion of Taxes. ; McKeesp T P (+414). ¢ £ P oty o eral 4s, Canadian Pacific 41,5, National | Copenhag 4% '53. Warner Sug 7s'41.. 105% 10314 | Improvement as other utilities—for in- A 4 o i 3+ McKesson & Rob (1) 3 - ki S airy Products 5';s, Nickel Plate 41.s, | Copenhag 58 '52. West Eldeb 55'44.. 5 105% 104'% stance, the telephone. This is attrib- In 1927 and in 1928 15 per cent of | g MeKes&Rob pf( ¢ ¢ 357 : ok o % 97, | Philadelphia Co. 5s., Southern Pacific |Cuba 5%s'45. .. 3 West UnTel5s'51. 5 104% 104% uted primarily to the vast expense of the net return from gasoline taxes in| g MeliaRniSoren: .. . et S i, | 4125, Western Union 55 and Youngs. | Czecho 83 '51 % West Unlon 6s ‘60 103% 1084 replacing railway equipment. this country was diverted from its orig- | 437 354 Mack Trucks (4).. : D e ' i 83%|town Sheet & Tube 5s. Declines were | Czecho 98’5 : "West UnT 6%s'36. 3 110 10915 Railways resorted to considerable new e s S S Lt R § 97% tand G & E1'p (7). : 7 shown by Quincy general 46 and Utah | penmark 414 “ 2 WISk Ep s atd 6 8% fnsncing and carried out & billicn-dols 10 per cent and in the first half of 1930 Mad Sa Garden (60¢) b b 1 1074 Power & Light Bs. e L § O (Wil&Colst6s'41. 1 10013 10015 1001, | 18T-improvement program in 1930, in at the annual rate of 12 per cent. In 20% Maema Copper (3). 3 tand Ofl Cal ( % g 505 Junior doméstic bonds that lost|Denmark 8542 4 ‘IWinR A # A2% 425, 423 keepmg with the program of stabilizing 1929 the Stat= of Florida, according fo | a1, Mallison & Co. . ) tand Oil of Kan (1) | ground_included American & Foreign | butch East 16s°47. 15 102 102 Ygstn Sné - 37102 1004 employment 1aunched early in the year. the American Petroleum Institute fig: 27% 325 Man Elev mod = (d3) 5 Stand Oil N J (12 70 | Power 55, Chicago & Northwestern 4345, | Dutch Fast 1 8 65 penditures this year are expected to ures, used 40 per cent of its gasoline tax | 11 74 Manhat Shirt (1).... 8 5 - AndON N Y (605, 16 | St. Paul adjustments, Erie general 4 & RAILROAD. show marked contraction. Although for purposes other than highway im-| 241, 195 Marine Mid (1.20). 13 23; xppf (5). 8 v International Telephone 4'.5 and 5: iat 7s war. [ Ann Arbor 4s " 2 80 R0 two of the three leading locomotive e Bt T b Sasme ventitha| 101 6L MarkstaE ot e 3 ( d SR 0 Loew's Ga, Pathe Exchange 7 and weor. | Fiat Taex w b g 5 614 | Alchison adj 43 1 96 96 manufacturers reported higher earnings amount diverted by the Statc of Texas| 65 3 Market St Ry2dpf.. 50s 6 ¢ dgigl Sl A LS e o bl - land 515 '58. . 821 Atchison gen 4s°95 22 99, 98% for 1930 than they did for 1929, they was 25 per cent and by Ohio 18 ver| 325 28 Marlin Rockwell (t4) 1 30! 3 terl Sec pf (1 ; Finland 6s"45..... §8% B8 |Atchiscy4¥adl.. & 1214 121% 1214 |reported that there was extremely slim x 5 9 p- - 12 b P 0 = » A “inland . . 945 o8 9 sine: 5 31. Texas, but dropped to 28 per cent in| 3 « Mathieson Alkalf (2) 31 * F a o S 0 - 4 " French7s'49...... 6 120% i | At & Danv 4s 48 3 51 & ingly large portion of the locomotives Florida. In Georgia, for the same pe- | 7 < May Dept Strs (23). 14 351 ETE aker (1.20) a9 g 2 NEW TRADING FACILITIES French GVt 7%;8°41 63 126% AtCL1st4s 965 now in use are over 10 years old, and riod, they were 17 per cent. s Maviag Co nf (3) 2 G 4 SleB e siE . 2 9% 93% |84 04es. b bl engines of much greater operating effi- ‘The Standard Oil of New Jersey's of- 66 Maytaz Co1st pf (6) 7 0% 31, Superhe; 4 3%, | Special Dispatch to The Star. German 5138'65... b7 17l 5 1015 10 cleéwy flnre no\:\' available. i ficial organ, the Lamp, discusses the po- u‘»n ’\‘;”'f“”; i 3 X Superior Ofl. . NEW YORK, February 25—With|German Bk 6s'38.. 3 8415 4 s 91 9ty “n“"dd&fllffl%- in a survey of litical phase of this diversion of taxes bt i e perior Steel. .. ... * 11%(the securities markets booming along|German isrep’4y.. 33 10315 103 T 1081 e e o Sty Sy and also the growing irritation of the | [ 1;‘ ALk ] 197 | At the merriest pace of the year, the [ (er Gen 5.0112 10015 g 1043, A revetinn Gy Uw?u'“yu?d'mc automobile owner who s foday paying | 1% 13'a Mid-Cont Pet (2). . New York curb exchange yesterday un- | Greek 6s'63. i) “ , 1 1031 103 | ranig” curtailment, of equipment buying, a higher proportion of tax to gasoline | *12 2} Mdlan Steer (3. a .. 3w a5 | expectedly threw open to trading its | [rish Free 8t5s '60. 2% 102 3 1005 109% 109 | Orders for several classes of equip: costs than ever before. - : g Tex Gulf Sulph (4) . W 54l 540 :i|new and enlarged trading floor. taly 75’51, X 99 @ y i % 1081 : The Lamp points out that there is no | 3$&¢ 40 Minn Mojine pf (63:) : 4 46 . Terai PO&ON. .. 3 s - This unlooked for opening—the offi- | Ltaly Pub Sv 5 2 o 3 863, '?;'u‘;" :’;c"';g‘:u‘c';l::?' l‘:"’{ "5'1{ “l' “‘l: serious objection on_ the part of the| 8% 0 Mo lan® Tex (a3) : TswisFas Land'h : 614 | cial inauguration is still several months | 1, oo oo A 30K 80 | e oy ot leve motoring public to the cauecuorr:LnLa: 107 86% Missouri Pac of (5) ; 314 Thatcher Mg (1.60). 9 a¥ar sugine newinuloing] far,from | jopunele 6145 54 g ¢|Bos & Mobu'ss.... 33 102y 102 fllled orders at the boginging oF s e gasoline tax when this tax W Moh s S SgE g Thatcher 9% 3 3 3 eady or complete—came at a timely zosl Bank 7s '57. = - 0s. €55 3 2 1 ‘rseai;)g::‘ljms e atway ‘mpmwmem»: 1815 .|m ::nhauk mr‘n,e_r"‘ ; _n“ Ix el 9 moment, for trading in the first twy |’ U851 Bank 7s Bklyn Man 6568 .. z}nr. shixnmepr].ls of railway equipment However, it says: “There is an inherent | it L S . | moidCo. . E 4 hours amounted t® 534,600 shares. or |Karstadt6s'43.... 1 6 Bklyn Un 1st 55°30. 3 i o o ;Ew;m!men‘(hm\lflh the fault in the gasoline tax which is now | A onizamery Ward. , BiaAven 7 ks nearly twice the volume of any other | Kreug & Toll 58°39 95 : BR&Pitt 4155 '57. first DALl of 1030, but were substan- becoming widely recognized. That Is its | Pk vl L : it Net Tovast. 2615 2615 27 |forencon period this year Chonkeaiees . ity ; | tially curtailed in the final six months, susceptibility to political raids. Thers| .- ® MOtoF PROAUSLN (2). ¢ i ' Thompson Starrett. . 5 When traders and their assistants = Can Nat 415857, .. - Restriction Forecast. are in evidence in many States today | 1. e 1 : : Thomp-Star pf (315) 9%, 2 [ SoneaN ool the Tiy foue Uiey found |l sl AR .. “|Can Nat 47,868, .. 4 987 99 “Through the first four to six months sgxeisler plans for II‘:’VG‘;'SIR;’;I g{o':’f.;';‘ f; Mullins Mfg........ 38 2 g e e . . Bt | Soout s,'?a"&“ a‘:?ddmg‘“:rlalhi‘;az{: {fg:m?; Milan 658 62 4 9% |Can Nat 433870, u{l 153‘1!.' we arn&mp'nls that practically the revenues provide Mullins Mfg pf (7). 400 3 ide Wat As pf (6).. 4 s sev S Can Nat 4 o 5 ;| all divisions of the industry. except sig- purposes {ar remioved from the original el L Sl e, | 94 Tide Wat Oil pf (3). . 2 2 bests ana numerous extra_telephones. | Xetheriands 65 by 35| nal installation and car leasing. will object of the levy. The politic as 11% Murrey Gorp...re. B 15 3 % Timken Det Ax (80¢c) ese facilities had been installed after 9 2 5 5 at 5s Oct '69. 3 5% | continue to operate on a greatly re- meth er e ki ke sh Motors (4) 21 t 3 Timken Roller (3)... 3 ! the Saturday closing. New § Wal B - : : 3 3 oF od ever discovered of taking toli| A So i 27 3 : | les 65 kit 3 . obacco Products. .. 2 p Around the quotation service near | Norway St M from the citizens in a painless wa: kbbb Il Tobacco Prod A 214 | the center of the floor is erected a booth S NNorze aeti do0 auy Tail lioads llve: Shint( sty 3 | ! 3" 10215 102 reat) both passe atAbme (30c) 1 ?s| 1 "% Transamerica (1)... 829 g that much resembles one of the old- va 2 Can Pacdebds..... B ray modemiite rore “ ) s and freight service if they are not to Average Prices. { _3% Nat Rella Hess...... 44 Transue & W (1).... %, | fashioned. open-air bandstands. Per- | Norway 6 4 Can Pac 4%s 46, 8 continue to lose traffic to the auto 1 3 R DUEHAY, i 018/ Vhan 2 Nat Biscuit (280).. 23 13 Tri-Cont Corp. ... .. " haps it was this sight, or it might have | Norway 6s " 5 102 2, | Gan Pac 4%s ‘60 99% | bile and the motor bt a truck. _ But there were no gasoline taxes, service| ° at Cash Reg A (3). 14 3 % 36's 37%) " g Tri-Cont Co 931 | been the stream of orders. but the i Can Pac s ctfs '44. R e S station prices in this country averaged | 47's 38% Nat Dairy (260).... 5% 46 F 4 % | sounds” that came ‘up. to the visitors:)Orient dev % s g, 034 2% 92% | Can Pac 5s ‘34 3 e Tor ‘sonds which T S o e 41 Nat Dept Store. ... 6 Wl : gallery from the flcor blended into the | OF'¢nt dev 6§ 53... Gl S0 omit dividends 15 diicute. Wiie bond of this vear the average price, before i, L : W merriest sort of tunes heard witain | Paris-Ly M 65 '38... * s financing is a chief source of funds, taxes, was 14.68 cents a gallon. Adding et in City RT pf ( 6 61 60'% | those walls in some months. Paris-Or . s G Bl ., | these obligations become less readily gasoline taxes, the finished price to the | 13 Nat Lead (; R 51% Und-Elliot-Fish (3. 17 9 e Foru euteu.. - 42 T c sl marketable when dividends are not paid motorist in this recent period was 18.51 8 o g g Inion Bag & Paper ; 2 Peru 65 '6 7 2 % | Ches Corp 5s *47 ) — pa cents. Consequently, the purchaser has | 44} 25% NatPow & Lt (1)... i ot Sl a Foreign Markets. Peru 75 5. g e 9% Chia O gn 4%s on stocks. ROt felt the new charge as much as he | (1'% NatRadiator = 3 $ i R L - NEW YORK, February 25 (Special), | 1’0iand 640 1 0] 4 s[Chi& Alt3s. . 3 b would if wholesale prices had held where | go 15 {71 CIeRl B o - e - ‘n Facific (10) : —Foreign markets have been taking .18 1 | C B & Q gen 4558 : INVESTMENT TRUSTS they were before the tax came into be-| 170 1075, Nat Supply pr (7). ‘n TankCar (1.60).. 3 2 p 3| thelr cue recently from the advance in b 90 89 L R ing, but he is beginning to s ‘at Surety (5) 5 2 Unit Afrcraft. . 3414 ew York. In London, Berlin and &Q 111 dv 43 49 - z NEW YORK, February 25 (#).—Over- zat’ the tendency to increase the tax e NE DD 58 : oL nit Aircraft pf (3). 2 55 | Paris local shares have been strong.|Queenland 7s-41... (el l the-counter market: 5‘l‘hgflll;’g°;fl;‘°“m‘.ngr D by the 915 Neisner Br T T i “ b . 9 A ) This 18 of inmportines In this country, | Rhinelbe 7s'4s. ... 9 g Chi Grt West 45’59’ 4 Am & Cont Cor, 7 lifical fingers Itching o’ dip into the Ievads Copper(1).. % 1 28% 18% Unit Carbon (1). ... 7 25% 273 | by Investment trusts of Sroack o ng? | Rhine West 63 2 2% | Chi M & St P 45'89. I | e i [ poli igers 1t T 5 Newport Co'(1)..... 5 ; . /nit Carbon (1). 5 2 y investment trusts of French public | Rhine west 6g B *hi M&SIP 4143 B Am 'Composite" Shrs collections for other purposes el ; nit Cigar Stores. .. utilities and bank stocks and of German | kio de ap 615s 'a5 9 Ch M&StP 45,585, 13 0 Al & At cony U recetving | consideration. in- dierent | ‘ag ‘b Ny Ceniral ) o 0 131k 1207 120 11 | 4 Tatt Blestric Gos1s 14 ; | ternal German bonds, - | Y T | RerDesuiydy. s B ; Shain’ & Ben Bty States for a diversion of a part of the | 5. Y & Harlem (5) 20i5 2 e itFruit (4)...... 5 2 ¥ s s & 7 Chi&NW g 335 '87. Chain & Gen Equit & =3 bt 9ty ot Chain flore Share Owners, Inc gasoline tax are given in the Lamp to 2 Y Invest (1.20).. 1 324 nit G & Im (1.20).. 3 o Chi N Wst 434 ¢'37 3 Chartered Invest s illustrate what is going on over the 5 LIt - o nit G & Im pf (5). . 100% 0w 1o | Washington Stock Ex s 3 Chi & NW con 4%s. 1: 1, | Cumulative Tr "Sh country. In Utah it has been proposed | 119t 110 Ny N H& H ot (1).. Fd T nit Picce D'W (2).. b 29 g Exchange vl Chi & NW 64836, 9 Siversifien Frastee ‘Shrs A that a portion of the tax be placed in 8 B% N Y Ont & Western. 3 S Express 5 Y 1 SALES. . Chi Rwys 5s '27. Diversified Trustee Shrs B the general revenues fund of the State. | 1a, 1 N'Y Railwayspf .. h : 7S & For Secur..... 3 1% Gevigetown Gas. 55—$1.000 ' : 5 Chi RI&P gn 45 '3 3 931 | Diversified Trusiee Shrs C . In Georgia ft 15 to be appiled to a Te- | e & NorroumaLidL.- 1 -7k Freight.... . s 2718 R0 ¢ o LA IR . y ChiRI& Pre 4 9% 99 999 | Pried Toust Mhaves A 1111 duction in property assessments. In| 215 20015 Norf & West (t12).. & 4 ’ ' US Gypsum (1.60).. 12 8di & Fed.-Amer. Nat. Bk. & Tr.—10 at 50,| Scrpe : E e BIET Gge s, 93 | Pdamental T Shoe 4 Louisiana, where the rate has been ad- | 921, 891 Norf & West pt (4).. 10p 8 i &% US Hoffman. . .. 10 at 50, s 85062 ChIR Tev 4ty '60. % 9% sy, | EundamentalTr Shrs A vanced from 4 cents to 5 cents a gal- 9% 4% North Am Aviation.. 46 & 2 . 6% 5 7S Indus Alco (6). 6 e Shinyetsu 6143 "5 92 2 | C TH&SE1n 5s'60. % 873 | Incorporated Equities lon, the additional amount levied is for | w5y, 62 or Am (b10% stk). 92 7 15 B SPipe&F (2).... 3 AFTER CALL. Solssou 36. ... Chi Un Sta 4155 °63. s 10014 | TorTRueatec Ewstors the purpose of funds for highways | 607 474 Northern Pacific (5). 5 59 ) ' S Realty & Im (3). 3 E 3% | Wash. R. & E. pfd.—3 at 98 Sweden b ncis. 2 105 5% | C & W Ind cv 48 °52. 5 90% | Invest Tr of N ¥ Collat Al schools and port expenses. Maryland | jo° jo.¢ oniloit 56 1 Syl ke B RUbYeE. ... ... 3 1 | Wash. Gas 5s—81,000 at 1047, $1,000| S*1585%s"46. Bl LT DY B 10m Ty earmarks part of its collections for the | 120 123 Ohlo QU)o - . 10 ) “| 3a 2 S Rubber 15t pf. .. 3 % 3 at 104 Toho = .|cccast L4y B 1005 s ¥ Leaders of Industry C’ elimination of railroad grade crossings. 1% Oliv I 2 i Smelt & Ref (1). 2 2z | Georgetown Gas 55—$500 at 103%;. Toho El Pow Ts '55. 993 CCC&StL6sC. .. 10414 | Major Corp Shares and Mississippi returns 3 cents of the 5| 25 15 Oliv karm q pr pf.. 50s 1 p - s g A A k : S Ref pf3ls. ; Wash. Gas 6s B Tokio § CU Ter 4135 202 104 | Mass Investors Trust.... Omnibus Corp. i 5 g5 IS8 sh. Gas 6s B—$200 at 1037, . 0kio 5 50 3 4328 2 : . cents to any county building a sea wall. | &, 5% OmnibusCorp., ... K, p P S s i 9% Wash. Gas 6s A—$700 at 1015, $800|Toklo 5 3 e 93y | Clev & Pitt 415577 4 104 | MoRaK, IRVt i New Mexico allocates a small Part of its | Jo° Jo° Otisereer s i o 55% s at 1015, Bl = | Clev Term 434 3 103 103% | Noe A Hguse Shares taxes for fish hatcheries. 55 < ane BLACCh g : : Capital Traction Co.—1 at . - Colo & Sou 4 5 101, [ Eone? % Rl Fribies shares 10 at| Grug. - e * | Public Service Tr Sh Revenue Increases. 39% 83% Owens 11l Glass (3). 2 & 3 . R 367.. 10 at 361, 2 at 361, Bmrdiagl % Colo® Mo dueeeiih s 5% | shawmut, Bank = w E . H Vienna 6s = Cuba R R 58'52. . 63 | Spencer Trask Pund. .. In the past 10 years, during which the 45% Pacific Gas & El (2). 19 5 o 5 54 Univ Pipe & R 5 5 Bid and Asked Prices. Warsaw 7858 ..., B 63 . | Cuba Nor 5%s'42 45 |Stand Am Trust Shrs. gasoline tax has been adopted by prac- 65% 54'}« Plc[l!c Ll»x:hllhz ). 9 4 3 65 3 2 Util P&L A (et 3 2 3 BONDS Stand Collat Trusteed Shrs.. tically all of the States, the annual| 24« 167 Pacific Mills. 2 2 2 . Shubert Theaters 83 Loew's pf xw (6 wRaRaZa ties in the commonwealth, By Baw L& e wllietanEten: IR TN Yokohama 65 '61. . 97 | Swper Corp of Am Tr Shrs A Tevenue as increased from less than | 130% 116% Pacific Ba) & Tei (7). 408 131 1307 1501 ottt N 5 VISR vy MISCELLANEOUS. Bl D e 973 | DURST Sives of "mer oo $5,000,000 to over $525.000,000. There| 11’4 &% Pack Mot Car (60c). 110 117 : Jh 2 5 4 Amer Tel & Telea. 4145 33 s AbItII P& P bs'53 2 170 % S L e 1 9943 | Trustee Stand Invest Shrs Va-Ca “h i 0 o E 2 e is the additional levy which is imposed | _3's 2% Panhandle P&R.... 1z F it Amer Tel & Teiga' 4125 30 Adams Ixp4s 48, D&RG W bs'55. 83 | Trustee Stand Oil Shrs A . . 5 P 4 2 Va Iron Coal & Coke. 2 2 Am. Tel. & Tel. ctl tr “5s 87% e v, | Trustee Stand Oil Shrs B by municipalities. Present plans, if car-| 50 36% Paramount Pub 14). 90 w47 : bt e S o H sars | Anscostia s Pote . R."5s Allegheny o8 44. .. 8714 | Erie Gen 7515 | Trisized Am B 8B - ried into effect, will bring about in-) 1% 1% Park Utah.. 5 Ana. & Pot. guar. 5% 93 Allis-Chalm 55°37.. 2 102 102% | Erie cv 55 '67. 82 wo-Year Trust Sh... 2 bash RR. ... 2 2 e A 8% 2 b s b 9 ited Fixed Shrs g0 creases in 16 States. with one State| 4% 3 ParmeleeT: 2 4 5 Wabash RR G e ohvm B 2 Am Ag Ch T3%s 41, 10415 | Erie 58 '75.. . 81 |G 8 Biee K& Pow Shares A considering a gasoline tax ‘of as much :‘ }‘4 ;l:h' ::M: . s N - - City & Suburban 5% Am Chain 6s 33 101 | Erie & Jer 6s Y 11014 ":'.' i Elecl 1*‘ Aschl’nl Shares B % i 3 Pathe Exchange A. . ¥ . s | Georgetown Gas 15t 5:. . " P 5s 20 o P = 2 niversal Tr RPE # 12 cents & gallon, PRS- (R, F Walworth (o £1).... ; Potomac Elec Cons. : | AT G ey B4%4 | pla Coast 55 74.. 241 | "Others unchanged 46 37% Penick & Ford (1). 2 5 4 Ward Baking 8. .. . . 2| Wash" Balto_ & Annap. 5% 937 | am N R 3 Grt Nor4s'76 D. E 39% 284 Penney (1 C) (3). 3 374 36 Ward Baking pf (7). Bl § 74 | Washinaton Gas 4125 ; revog it o g 48 TTE. ; 8 TREASURY CERTIFICATES. 96% 90 Penney (JC) pf A (6) 96 9 b Warner Bros Pi . 7 6 LT TR ug Ref 653 9 3 3 2 (Reported by J. & W. Seligman & Co.) 5'% 3% Penn Dixie ¥ 4 Warner Quinlan Wash. Gas 6s. series B... 1 Am T&T cv 4%s'39 2 Grt Nor 53°73..... Rate—Maturity. Bid. Ofter. 64 55% Penn RR (4)...... - 27 Warren Bros 3).... : Wash. Rwy. & Elec 40 i Am T&T 5376 .9 106 6 « | Grt Nor ren 7s 36 2 e June 15, 1o31 232 100 1733 3 3 Peop Drug § 5 b 310 ¥ ar Bros cv pt (3).. 7 5 MISCELLANEO! Am T&T ¢ tr 5546, g 3 | Gulf Mobile 55 °50. . 4s June 15, 193100 5 Butter—One-pound prints, 33'4834; | 950 20015 Peop Gas Ch (8) 2 3 y &P (2). 2 31 3 E 4 Barber & Ross, Inc. 6'us r 60, g o 2%as Sept. 15. 1931 T tub, 32a33 | “00% 86 Pore Mares = . ; shater Eiseniohr. . hevy Chase Glun 515, oo PAMITRTE S E00 ~ Hud & M adj - o| 788 Bee 18 don 1l 100 11-32 | Marq pr pf (5). 1008 P ) 5 A o 4 : 312s Mar 15, _Eggs—Hennery, 18; current receipt: gl g W 21 Wesls Ofl & Snow (2) ool d . 9 * 109 | Hud & Mre . 9 3135 Sept. 15 7 Phe. odge (2). .. x 5 Wess O & Sn pf (4).. v " 3'as Dec. Poultry, alive—Turkeys, young, 30a32; | - i L B LR - ] 241, Western Dairy A (4) £ e ALy, L = old, 25a27; Winter chickens, 32: Spring | 7% Phil Read G& 1. .. 1 By Western Dairy B. ... ‘ % 9 STOCKS ATDR e 111 Cent ref 45’5 broilers, 38a40; hens, heavy, 23; small, | PhilipMor & Cb (15, Western Md. 3 P !} = AtTardeb et : > *| 111 Cent 4% 5 '66. 21: Leghorns, 16; roosters, 15: ducks, 15: | 5 illips-Jones pf (7) 408 4 49 H Western Pacific. .... 4 3 PUBLIC UTILITY. . o 111 Cent 5s " keats. large and young, 60a65; old, 25a " 111iph Dot (2) 72 15 1 2 |8 30 Western Union (8).. 6 509 | Amer. Tel. & Tel. Bell Tel Pa 5s B*48 111 Cent 6. Dressed—Turkeys, young, 38240:| rce-Arcow A 2 A i E Westing AB (2).... 35 3 3 C: 4 5'2 | Beth Steel pm 5836 2 215 10234 | 111 COStL&ED Winter chickens, 38a40: 3 erce-Arrow pt (6). 4 " Vestng K& M (5).. 23 1 : ¥ Beth St rf &s " 11 CCStL&N ers, 45; hens, heavy, 24a25 ; o AN ) 4 « Westing &M pf (5) 170s 116" 6 Pot. Elec. Power 6 bid Bk Ed gn A 5549 Int Rap Tr 55 '66 g capons, large, 37a38: Pierce Petrolm (10¢) E 2 2013 Weston El Instr (1) 2 5 | Wash® Ray. & Ele 4 Bush T Bldg 55'60. Int Rap Tr sta '66. . small, 32a33; ducks, 24a25: roosters, 16; 26 Pillsbury Flour (2). 2 | ! 33 Weston Elec A " 3 2 Wash. Rwy. & Elec. ptd. (5) Cert-td deb 6%s *48 3 Int Rap Tr 7s 3 keats, young, 70a80: old, 40a45. 281, 22 Pits Coal o 2 Westvaco Chlor (2). 2 2 2 6 NATIONAL BANK. Chile Cop db 65 '47. 5 u5 | Int & Gr Nor 6s Meats—Beef, 14a22; lamb, 20a22; veal 6714 Pittsburgh Coal pf.. 3 77 77 . 5 Wextark Radio Strs. Capital (14) i 2 Colon 011 65 38 6 5 |Int& G Nad6s 21; pork loins. 17al9; fresh hams. 3 163 Pitts ¥ W& C pf (7). 108 15 5 26% 2 White Motors (2)... 2 2 2 S, N iz (105 * | Col G&X 5s May 'a2 2 1 It Ry C A 615", fresh shoulders, 121.: smoked | 15 Pitts Screw (1.40). 1 14 5 s White Rock MS s ~ | Bistrict (8). " . Com Inves 5358 °49. 3 Kan City Sou 3s " . 21a23; smoked shoulders, 121, 315 Pitts Steel pf (7)... 1608 4 White Sewing Mach. s | Ped.-Am. Nail BK. & Ti. () € C Md 1stre s s 35 | Kan City Sou bs ‘50 strip bacon, 19; lard, in packages, 10; - 84 Poor & Co (B)...... il White Sew Mach pf 2 9 9 9 |Liberty (75) ... . 20 |ConGN Y 53845 ‘et Gl Y;‘."“‘ *60 in bulk, 9 16 Port It Am Tob A : 20 Wilcox Rich A (2%). 2 P e B %80 | Consum Pow 5s 52, T e Live stock—Hogs, heavy, 6.50a7.25; 4% P RATTOBE, . .o 4 | Wiliys-Overland. ... 6 b 5 | Skt ! 425 5 | C Am Sugcol Lake Shore 45'31. . medium and light. 7.75a7.90; pigs,| 3 5 Postal T&Cpf (7).. 5 3 35 36y | B Willys-Over pf (7).. 5 5% | GecOnd e ) b 3 Leh Val cv 4s 700a ;" loughs,, 3.5085.00; ' calves, 12% Praiste rnl&' ) 1 Wilson'&.Go A ] Washington (i3} 1""0. 2 Denver Gas 5s 51 3 102% | LehV cv 4358 5.00a9.50; lambs, 7.00a8.50 17% Prairie Pipe 3 24 : Wilson & Co pf. .. : 5 ot el DeL BTas 11 ix 101% | Leh Val 53 2000. ... Fruits - Strawberries, 40a50; honey- | 4 Pressed Steel Car... i 505 Woolworth (2.40). .. 64 63% | A el Truge 1. U0 i 33 [Retmarces B do.. 5% 105% | Long Isi rf 4549 ews, Chile, 3.00a3.50; oranges, Floridi 35% P 3 L . Ve orthington Pum Natl Sav & Tr (12} 4 e bl D L aas 350a4.00; California, 3.5024.00: lemons, Y Worth Rump A (7)., Trln oris ARk & Truss . 3 sipsesert -l i 4508500 tangerines, 2.00; grapes. 5% Sv X 7 5 Wright Aeronaut. .. Weshington Loan & Trist (14 0 |Gen Cable5s 47, Emperors. kegs, 5.50; apples, bushel! 98. 95 PubSv N Jpf 3 P 9 Wrigley (Wm) (4).. 6 % i SAVINGS BANK Gen Motors 65 '37. . 56 |SULSWev4s'3z.. 1 100% 100, baskets, 1.00a2.00; box stock, 2.00a3.00: ) 115% 109% PubSv N J pf (6) 6 3 Yale & Towne (2)... 2846 { s ot Betinsdn. (65 ... 5 Gen P Sv5%s 39 - ., | Market St 7s 40. 4 9 964 |StP& KCS L lgs. 10 98% 985 pears, box stock, 3.50a3.75; cranberries, | 134% 128 Pub Sv N J pf (7). .. 3 Yellow Truck. . 93 Commerce & Savings (1) |GenStCassys'ay. 1 9 9574 | Mil E Ry & L 68 '61. 12 101% | St P Un Dep o8 '7 1110 110 25-pound box, 3.50; pineapples, 4.00a | 58 49 5 5 bt Youngs S 3 o East Washington (12) 2 Gen Th Eq 68 °40... g M StP&SSM con 4s. 8814 Seab A L rf 4s°4 3 16 616 450; limes, per 100, 2.00: grapes, Bel- | 2 4 Punta Alegre Sugar 2 . ) 3 Young Sh & 2 Bocunty Sav & Com. Bank (i1} 48 Goodrich ¢v 63 '45. MSP&SSM 5348 '49 66 66 |SeabA L4sst'50.. 4 461 464 gium, hot house, per pound, 1.25; grape. 2% P PUReON......;..... 3 ¢ . Mith Radio s Seventh Street (12) Good 1st 6%s . 13 Ve 99 9% | M StP&SSM 632s. . 100 |Seab A Lcv 6s'45.. 49 17k 17 1ruit, 3.00a3.50; rhubarb, 5-pound boxes,| 49%; 38 Purity Bakeries (4) g 3 RIGHTS—:XPIRE. A TR e 3 Goody’r Rub 58 *67. MK&T 1st 4 2 9 91% 91% Sou Pac coi4s'49.. 19 97 96% 9021.00. | 264 12 RadioCorp....... any g P 2 P P.Mar13 88 2% 2 2 i i Hum O&R 5%s '62. 2% | MK & T 416878, .. 97': 97% |Sou Pacref4s’55.. 1 96% 965 Vegetables—Potatoes, new, 100-pound By = PacGas& El.Mar1l 8 2% 2 FIRE INSURANCE BT sk s | MK &Tadj5s 67, 9 94 |SouPacd%s'88... 5 984 98I 9xu sack 15a2.50; new, crates, 3.00: Idaho g dio-Keith-Orph A pr Sales of Stocks on New York Exchange. American (12) . . o Mo Pac gen 4s'75. . Sou P 4%s 69 ww.. 37 983 9813 Inlang Bt n 1 3 3 s | Mo Pac 55 A '65. .. 9 Sou P&Or 41877, 1 101 101 bakers, 100-pound sacks, 275 spinach, tSec ) Cuik C (4). 20x 5% i ) AM........ 700000 12:00 Noon..... ERoens (&) ot Rl e L 1.00; kale, 1 carrots, éwr crate, 3.00: taybestos Man 2 60. 7 150 P.M -.. 3.300,000 2:10 P.M.. 00,000 | National Union (15)...11000 Int Cament 5548 4 Mo Pag 58 F' "l.: 2 Y Sou Ry gen4s'56.. 8 88 8714 bects, per crate, 3.00; cabbage, new, per Real i1k Hos (3). 5 i Dividend rates ax givi the above table are the annual cash TITLE INSURANCE. H Mo Pac 55 G *7 . 5 % | Sou Ry 5504 ..... 7 1091 109 hamper. 1.25: old, 1.25; turnips, 1.00a 15% Kem Rand (1.60) 1 L ',.”.!2'.,,,"(,m“‘;.'#,i“«.(.’.o.ni..y or hait yearly declatavions. | ¢ : et 0 88 Mo Pac s Hu: 10 93 Sou Ry 6% '56. ... 37 1175 125 parsnips, 1.50: tomatoes, 3-pan | * 814 Keo Motor Car (40c) » Unit of trading less than 100 shares. 1Partly extra. :Plus 4" Al E i o P/ Tat Basl .. 9 ik A o Sontainere. "L 00AS 80 cantiower. ag0:| % Sple e <l byl £ls 8% n stock able in scrip. (Plus 9 in stock. n Paid last year e Int MM col tr 68°41 9 MoDRcous oy sl 8 TerAsStL5s'44.. 3 101 , 4o % ate” b Pavable In stock. d Pavable when earnea Int Pap 55 A *47 3 ¢ Tex & P 1st 55 2000. 4 111 111 broccoli, per basket, 1.75; per crate. 12 Republic Steel. . .... 5 4 Syash sh or stock 1us in stock. & Piis 8% MISCBLLANEOUS. 4 Mont Tr Ist 55 "41.. Int Pap 6s oo 26l 6 A Tex & Pac 55 C 3 98 3.00. mushrooms, 175a1.00; asparagus, 29'; Republic Steel pf.. R 50 o LT T S R Sl S Barber & Rows, Inc, com, . Int T & T 4%s 2 2 [NOT&M5%s Texas Pac 55 D '80. 98% per bunch, 1.25; lima beans, 9.00; peas, — s S O i s 58 9 ip |1t T&T cv 435839 9 N Y Cgn3ts 97 5 5 Third Av ref 4s ‘60 50% 4 gnv lr%fumkr?. P:m‘i;gu—"-"?fl %gz'n- i 3 Dist. 'Natl Sec, pra; (1), 5 | Int T & T 5855 2 85 Y Cends'98..... R 9 Third Av adJj 5s '60. éoga 25; eggplant, 4.50; string beans, EARNINGS REPORTED. during the early part of 1930, the| METAL MARKET. e e KCP&L4%s" 2 3 Y Centdb 4s'34.. 12 0 Bas 1t Sa it 99 - Un Pac 45’68 25 (P world-wide business depression reduced | " m Fed -Am Co. i e - 53 % Y Cent 45'42. ... NEW YORK. February P—The | (he volume of business and earnings| NEW YORK, February 25 (#).—Cop- | E¢3-Am €0 com- (1,200 EROEAN e Y Cent 4345 2013. Un Pacrf ¢ 95% effect of the 1930 depression and drought < y 1 f Lanston Moiotype (8} X Lackaw St 5550, .. NYC're im 65 2013." 19 4 h BOND INTEREST REDUCED. |on the farm implement business sas QUring the latter part of the year and | ber sieady: electrolytic, spot and future, | Lansion Mobotspe (8} '@ a it b | reflected in the annual report of the | DAt the severe drought of last Summer 10, Iron quiet, unchanged. Tin quiet; | PARIS, Pebruary 25 «%.—The min- Mer. Tr & Stze. pfd. (7) o lmcGSllA.’)lclz.a.- 2 | N Y Cent b 6s '3 % 1067 U“P'“'/n; 67. d Fall also adversely affected busi- Mergenthaler Linotype (6) " o Laclede 5%s C'53. . NY C&StL 4%s5"78. 35 92 2 |Va Ry 1st5s" Istry of finance today approved an order | }A‘"batonal Harvesier Co, made pub- | oy, spot and nearby, 27.15; future, 27.35. | Natl ‘Mige & Inv brd. 8 0 S4in Lanite ro NIE 65166 NYC&SIL enah 2 s . (812)., i = Vabash 4%s 78 4 . i Lead steady; spot, New York, 4.60; East | Beoples Dr@e Stores pfd. 16i:i.. 93, Myers 68'51. NYC&St 4 i Jeducing the interest Of F7ench Da-| Net earnings for 1930 were glven ‘as| Worthington Pump & Machinery Cor- | L¢3 steady; spo : P R R LR it b g e st Wabasn st 63 39. tional defense bonds from 3 to 2'; per $25,703,191, cqual to $4.55 a share on | Poration and subsidiaries reported 1930 St. Louls 4.35. Zinc easy; East St.|Security Storuge (fe) .. oo . ettt o k\%bvlufl db - Wabash 2d bs '39. o said that the reduc-|the common stock, leaving a margin of Det income equal to $8.23 a common Louis, spot and future, 3.95-4.00. Anti- |1Ine Carpel Coro_ (i50c)... T e iyl NY NHASON. Wabasi &5 876 A’ communique sai et U | $2.05 above the $2.50 annual dividend | share, against $11.26 a share in the mony. 7.2. Wanh* Med. Bide: Corp. (13) " Lorillard 5 %8 37 5 974 NY WHB $3%8046., 2 Wabash 6148 15 on v R ed by e e ntion 1of | rate. Por the previous year the come | Previous year. B Woodward & Lothrop com’ 1\ 25 - | Lou G & E1 58 /52. .. LA e ol 2 gyt it was held that © ly | Pany reported net profit of $36,779,098,| American Safety Razor - Corporation R T ol S o 5 15 | N 2 4 was held that the order was largely | *Ex dividend. 52 extra. McKes & R5%s"50 7914 | Nor Pac 38 2047.... 8 it Pac 46 @ result of the scheme of co-operation | OF $7.00 a common share, and subsidiaries for the year ended| The Great Lakes define 3.800 miles | ,Rdiidend., Aot L 4 LA L TR - e T A belween French and British treasury = Herbert F. Perkins, president, sald | December 31 had net income of $1502.- of the total boundary lins of the United ha5¢ xtia. i LT L el SRR : officials, who recently discussed the flow that while favorable conditions con-| 948, equal to $751 a share, against|States, accordin~ to the Duluth, Minn, 3% £Xi 50 extra: Mont P db 55 A "62.. 100% NorPacri6s2047. 12 @ gold into Frances tinued in the farm implement business ' $1,543,266, or $7.71 a share, in 1929. | Chamber of Commerce. e, ~ e IL B saa ol 8 age 11 Cent 4s ‘53 Sales. Hizh. Oreg-Wash 4s’61.. 3 94% Penn cv 445 60 9 106% Penn gen 415 '65.. 1 102% Penn 4% 70, 14 97T Penn 4% s 63...... 15 101% Penn G5 '64. . 105 Penn gen 55 '63 18 1095 Penn 6%3 36 6 1097 Penn O&D 4%s'77. 25 100 Peor & B 1st4s'40. "2 87 Pere M 1st 5s 56 3 104% PCC&StL5s 4 & 110% P&WVilsB 2 94k P&W V4%sC'60. 3 941 1005 | Por RL&P 7348746 1 1071 88 | RioGr W 1st4s'39, & 961 101 [RIAr&L4%s 4. 5 1005 5 e lstLar mnesa1.. 5 1004 100% MM StL&SFin4sA. 3 86y 6o e lstLasFans T8 11 s 82 k2 ISt L&SFprings B. 5 101 101 ISUL&SFgn6s'3l. 3 1014 1014 1014 9, e 9 cxmnSoan few aSuenS—am~Bala [