Evening Star Newspaper, March 3, 1931, Page 14

TREASURY T0 GET LOAN AT LOW RATE Issues Will Be Quickly Sold. FIN BY JOHN F. SINCLAIR. It is apparent Secretary Mellon is mot worried - over the task of raising $1,400,000,000 on March 15. If he were he would show it by having the new bonds and certificates pay a higher interest rate. This Spring financing, retiring $1,- 100,000,000 in notes and providing $£300,000.000 immediately for loans on war veterans' certificates, repres~ts the lowest rates ever paid on a major Government plan. Incidentally, the Government is borrowing money at 1Y% per cent to loan to the veterans at 415 per cent. Will the issues be sold at such rates of interest? That's an easy one to answer, They will all be snapped up and oversubscribed. Farmers’ Buying Power. As comprehensive a statement as any made by the 2,304 business leaders to the questionnaire covering the present business situation sent out by the Sher- man Corporation, is that given by for- mer Gov. Theodore Christianson of Minnesota. He says that lack of pur- chasing power on the part of the farming class is largely responsible for the slow busine:s recovery and the large unemployment. re are two fundamental reasons for the present condition of unemploy- ment,” this former Governor goes on to 1" An unprecedented population movement from rural areas to the in- dustrial _centers, which can be checked only by making farming economically attractive. “3. Increased mechanization of in- dustry, the effects of which can be overcome only by reducing the number of work hours per week in the same yropun.lnn as new machinery displaces “Unemployment is the principal cause for our industrial stagnation, because: the buying power of 3,500,000 is sus- pended as they have no income, and the consumptive demand of those who are employed is sharply curtailed, be- cause they are hoarding in anticipation of the possible loss of their jobs.” Cost of Distribution. L. Druin, vlce-president of the lllnnll Food Stores Co. of City, Kan., in his reply to the same qflesfiflnnllr! emphasizes still another point of view. He wants waste, incident to the duplication of efforts in all fields of action, eliminated. Waste, he says, is a soclal, as well @ an individual, crime. “There are too many manufacturers, too many jobbers, and even too many rmllers in ‘all lines of food commodities. If 5,000 jobbing houses are giving only the service 2,500 could easily give (which is a fact) then the consumer is paying the unnecessary cost of distribu- tion.” ‘While Mr. Druin refers only to the condition of his own particular field of merchandising, he feels that a stue of other industries would reveal muci s dorge W, Galy. president of Robert B 7 n Gair Co. of New York, & with Mr. cper-hng, ‘This situation cannot be cor- 1ected by any cne or a few companies. “The anti-trust laws prevent con- cert>d action amcng the manufacturers, which is necessary to correct the situa- tion. Even with ithered ul:zdn. fl?u‘m a an assoc 3 % m? co-operation of a sufficient nu.mbzr to ucun ma muln" i fiyk"lt&“flo( mflmhflu"‘h‘ ru.e‘-} business needs,” accord- to Mr, 3 en asked for a solution to wu'- production in his industry he repied. “The five-day week universally recog: nlzfl in this illd\ltf]. 'I::‘fl nlve Lhe hourly (rdlflyrauo{wuu d to labor, hut until luction can be regulated an kent in bounds with demand, there u no hépe for improvement or profit, for while waiting 1or demand to catch uj new plants are built and old ones greatl y improved, so that the increased produc- tion more uun Jkeeps pace with in. creasing deman Gives W Needs. C. M. Keyes, president Curtis-Wright Corporation of New York, gave his sum- mary of the business situation to date as_follows: “Pirst st>p in the American situation is to maintain in the banking world a sound liquid position. Second step, to put the business house in order by the elimination of unnecessary overhwd extravagance of administration maintenance of organizations far wo big for any business in sight during the next year or more. Those two steps have been taken to a large extent. These measures are measures of protection rather than efforts to make business revive, “Business cannot. revive on a wide scale until economic readjustments at home and abroad have progressed yond the present pof * * * cannot get far without international co. tion on a bigger scale than anything we have seen since the war. More Leisure Time Urged. Lew Hahn, president of the Hahn Department Stores, agrees with Mr. Gair in suggesting that more leisure time be made available to workers. “The more we can increase the time for leisure among those in the field of productive industry, the more time they will have to consume commodities of every sort. “Wag> cause consumpis (Copyrisht, vates should not be cut be- can mean only decreased ability.” 1931, by North American News- paper Alliance.) BETTER BUSINESS ABROAD IS REPORTED Commerce Department’s Weekly i Survey Notes Turn in Foreign Situation. By the Associated Press Moderately favorable turns in the world business situation were noted today in the Commerce Dep-mnentdl weekly summary of reports from i observers abroad. “Increasing business activity has been noted in Argentina, with rise in com- modity ices,” the statement said. “Seasonal dullness prevalls in Chile and the Cuban situation continues to be adverse, although the tobacco and ble_markets seem to be normal. w‘uhr Eastern situation laml une! trading continu- dull {n chtn:‘ and Japan, though better u prevails in lands East Indles as a_re- sult of more cts. Wool ! tinued substantially und<r 1930 ANCIAL., THE EVENING STAR, WASHINGTON, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. (Continued From Page 13.) ~Prev 1931~ Stock and Sales— Dividend R: Nash Motors (4 Nat Acme (80c) . Nat Bella Hes Nat Biscuit (280)... Nat Casl Reg A (3). Nat Dairy (2.60). Nat Dist Prod (2). Nat Lead pf A (7). Nat Pow & Lt (1) Nat Radiator pf. Nat Steel (2).. Nat Supply (5). . Nat Supply pf (7). Nat Surety (5). Nat Tea (1).. : Nelsner Bros (1.60) . Nevada Copper (1).. 21 20 N Y Invest «120)... Y N H & Hart (6). Y NH&Hpf (). Y Ont & Western Y Steam pf (6). . N Y Steam 1st pf (7) 208 Norf & West (112).. % North Am Aviation. . r Am (b10% stk). North Amer pf (3).. North Am Ed pf (6). No Ger Lloyd(a3.43). Northern Pacific (5). Northwest Tel (3)... Ohlo Ol (1) Oliv Farm Eq pr pf Omnibus Corp. ..... Otis Elevator (234) . Otis Steel : Owens 111 Glass (3). Pacific Gas & El (2). 18 Pacific Lighting (3). 2 Pacific Tel & Tel (7) 120s Pack Mot Car (6uc). 82 Panhandle P & R Paramount Pub Park & Tilford. Park Utah Parmelee Transport. FPathe Excharge Pathe Exchange A. i Peerless Motor Car Penick & Ford (1). Penney (J C) (2.40). Penney (JC) pf A (6) Penn Dixie Cement.. 1 Penn RR (4).... 39 4 Peoples D S pf (6%). 10s Peop GasCh (8).... 6 Pere Marq pr pf (5). 108 i Petrolm Cp of Am(1) 13 Phelps Dodge (2)... Phil Read C& 1. . Phillips-Jones pf Philip Mor & Co (1). Phillips Pet (2)..... Pierce-Arrow A (2. Pierce Oll. Plerce Ol pf..... Pierce Petrolm (16¢) Pillsbury Flour (2). Pitts Screw (1.40). Pitts Term C pf Pour & Co (B). Port R Am Tob A 3% PRAMTob B...... Prairie Oil & Gas (2) Prairie Pipe L ( Pressed Steel Proct & Gamb Proc & Gamb pf (5) Pub Sv N J (3.40) Pub Sv N J pf (5) Pub Sv N J pf (6) PubSvE&G pf (6). Pullman Corp (4)... Punta Alegre Sugar. PureOl. . Pure Oil pf (8). Purity Bakeri Radio Corp. Radio Corp B Radio-Kelth-Orph A. RR Sec IC stk C (4). 308 Raybestos Man 2.60. 22 Reading Ry (4) Real Silk Hos (3) Rem Rand (1.60). 95 Rem-Rand 2d pt (8). 608 Reo Motor Car (40c). 20 N N N N 20s 4% 1 50% 91 9 1% 8 1 i 1 4 9 1 4 1 M 4 Revere Copper & Br. 2 Reynolds Metals (2) Reynolds Tob A (3). Reynolds Tob B (3). Richfield Oil. .. Rio Grande Oil. Rit Dent Mfg (2 Rossia [nsur (2 20). Royal Dutch m1.3404 Safeway Stores (5).. St Joseph Ld (2).... St L-San Fran (8). Savage Arms (2). Schulte Retall Strs. Seaboard Afr Lin Seab Ailr Line pf. Seagrave (60c). . Sears Roebuck $2%. Second Nat Inv Second Nat Inv Seneca Conper. Servel Inc. . Sharon Steel Hoop. Sharp & Dohme. .. Shattuck F G (11%). Shell Union Ofl. . Shubert Theaters. Simmons Co. Sinclair Con O1l1 (1) Skelly OMl..... Skelly Oil pf (6). Sloss Sheffleld St pf. Snider Packing. . Solv Amprwwb%.. Sou P Ric Sug (1.40) South Cal Ed (2) South Pacific (6 South Ry (8). South Ry pf (5). Spalding (A G) (2) Spalding 1st vt (1) Span, ‘halfant. Sparks Withing (1). 11 208 10 19 3 zo'A 5% 4% 6% 10% 1% 26 42% 63 e 2% 1 6% 584 1% 84 13% 19 20% 10% 8l 23% 15% 12% 62 39 4% - o » SaBoanSenninnlbvana aan e P ) 104 3 208 ~Prev. 1930~ Stand Bi Stand B; Stand G Stand G Pre . Close. Close. .45' 7\.. 801a 361 45% 31% 140 404% 1% 524 65 110 694 21% Stand Of Stand Of Stand O Stand Of Starrett Sterling Stewart Stone & % Studeba. Studeba Sun Ofl Sun Oil Telauto; Texas C Tex Gul Texas P Thomps: Timken Timken Tobacco Transue Truscon Twin Ci Und-111 Un Carb Un Otl o Stock and Dividend Rate. Stand Invest Corp. .. Stand Oil Exp pf (5). 4 Superheater (2 Superior Ofl. Symington A Tennessee Corp( Texas Pac Land Tr. . 3% Thatcher Mfg (1.60). 5 Thermoid Co Thompson Pr (2.40). Thompson Starrett. . Tide Water As (60c). Tide Wat Oil pf (5).. Tobacco Products. ... Transamerica (1). Tri-Cont Corp. Trico Prod (:%) Ulen & Co (1.60).... Union Bag & Paper. . Sales— Add 00. High. rands (1.20). 73 19 rands pf (7). 1 &E(3%)... 114 & Epf (4).. X 3 11 83 23 3 4 1l Cal (h2%). il of Kan (1) 1N J (12). .. il N Y (1.60). (LS) (12%) SecA.. Sterl Sec pf (1.20) Warner..... Webster (3). ker (1.20). ker Cp pf () 70- (1. 1 pf (6). 9 5\ 1 6 graph (1.40). 2 e) 6 orp (3). 9 £ Sulph (4).. C&Oil..... 25 12 on (J R) Det Ax (80c) Roller (3)... Prod A t95¢ —a x8ron eron i inanncornarsai~ &W (1).... Stl (g1.20).. ty RTr (§4). 1ot-Fish (3). 1de (2.60)... f Cal (2) Un Pacific (10) Un TankCar (1.60) Unit Aircraft....... Unit Aircraft pf (3).. Unit Biscuit (2)..... Unit Biscuit pf (7) Unit Carbon (1). Unit Cigar Stores. Unit Corp (75¢). Unit Corp pt (3). Unit Electric Coal. Unit Fruit (4). Unit G & Im (1. Unit G & Im pf (5).. Unit Pie ce D W (2).. US Eapress... US & I'or Secur. Rubl Rub| Sme dacencaas s s s s s s s 8 8 & Kor Sec pf (6). Gypsum (1.60).. Hoftman Indus Alco 16). .. Pipe & F (2) Realty & Im ber ber 1t & Ref (1). USSm&Ref pfas. U S Steel 147). U S Tobaceo (4) . Unit Stores A. Unit Sto, res pf (4)... Univ Pipe & Rad Utah Copper (8). Utll P&L A (e12.15). Vadasco Vanadiu Va Car Ci Vulcan Det (4) Wabash Waldorf 17 5 273 4 3308 Sales Corp.. m Corp «3). hem pf (7). RR. Sys (1%).. Walworth Co (1) Ward Baking A Ward Baking B Ward Baking pf (7). Warner Warren Warren Wess O West Weston Wheel & Vs orthin Wrigley Youngs Brookly; 2l Sou Cal 10:30 A.M. 1:3¢ P.M. Dividend rates as in stock. —no tegular rate b e Payable in cash or stock. h Plus ~—no ‘regular ra Worth Pump B (6).. Wright Aervnaut. .. Pac Gas & k1. Mar 11 e in sC Bros Pict. Bros (3) War Bros cv pf ( Fdy & P (2 1 & Snow (2) Wess O & Sn pf (4).. West Pa El pf (T)... West Pa Pow pf (6). 'a Pow pf (7). Western Dairy A (4) Western Dairy B Western Md... Western Pacific. Western Pacific pf... Western Union (8).. Westing A B (2).... Westing £ & M (5).. 230 Westing E&M pf (5) 110s 4 El Instr (1). Westvaco Chlor (2 Wextark Radio Stri Lake Erie. White Motors (2). White Sewing Mach. Wilcox Rich A (23) Willys-Overland. . Wilson & Co.. Wilson & Co A. Wilson & Co p . Woolworth (2.40)... 20 120 1 €0s 10 gton Pump. (Wm) (4).. Yellow Truck Spring (3) Zenith Radio......, RIGHTS—EXPIRE. n_ Ed.Mar 16140s Ed..Apr2o 6 11 12:00 Noon 2:10 P.M given in the above table are 2% 2% 2%, 29 1,300,000 2100,000 e ann; 2%, 400.000 1.900,000 | o payments based on tne Jatest quaiterly or hait i |, & Unit of trading less than 100 shares. yearly deciesation Partly extra. TID, o 1ELUS 0% in stock, Payable in stock. stock Plus 8% in " sock. CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, March 3.—The follow- ing is a summary of important corpora- | tion news prepared by the Standard Statisties Co., Inc., New York, for the Assoclated Press. News Trend. Automobiie production last v.eek reached its highest level since Septem- ber. This upward movement in output | was rot unexpected but a definitely fa- | vorable factor in the situation is that| gain was greater than usual for the period. Cnpper quotations were marked up another s cent yesterday. Domes- tic price is nl;“;‘ln.‘i Znu - p(.émdnfiort\g export_price cents a poun ulnl\lg are the highest yet recorded for 1931 Preliminary crude oi! statis- tics are favorable. Early estimates places last week’s output for the United Shlen 55,675 barrels dally below the preceding week. ornorate news of the day consiste larwely of earnings reports all <1 which make nrfavorable contracts with figures of a previous. Februa.y sales for the two largest mail oraer unite—Mont- gomery Ward and Sears, Roebuck;‘cori- ont- gomery’s decrease was 17.1 per cent and Sears, Roebuck 14% per cent Lower prices probably account large'y for the decrense. American Car & Foundry reduced its quarterly dividénd to 75 cents from $1.50. Adams Millis 1930 common share :lminu $4.83 against same amount in 929. Allegheny Ccrporation break-up value Pebruary 28 reported $6.58 share; port- folio December 31, 1930. American Car and Foundry Co., de- clires 75 cents common dividend; paid crop prospe: prices continue firmer and more op- timistic in Australia. , tions con- improve- been British prices and fair retail trade commodit; in’ mm.wm“ o o 0 as unem- of $1.50 quarterly January 1. American Tel. & Tel. December gross revenues off 1.9 per cent; operating in- come off 20.0 per cent; 12 months gross up 2.3 per cent; operating income 193 per cemt. " Al ian Corporation January 31 uu value reported 95 cents a Atlantic Refining reduces tank flm“mhzafimmfl off | coupons on first mortgage 8s reported territories except Boston and Providence. Belding-Heminway permanent in- Junction issued against stock sales by | Belway Corpcration, Canadian Pacific Rallway reduces third-class _return trip passenger rates. | Capital Tiaction 1930 common share | earnings $4.08 against $4.68. Celluloid Corporation 1930 $259,275 against net income, equal to $1.76 common share. Cities Service Corporation negotia- tions or acquisition of McCall-Fron- | tenac Oil, Ltd. Colorado & Southern January net operating income off 43 per cent. Commercial Investment Trust $8,- 835,000 outstanding 6 per cent deben- | tures redeemed at 104%;. Connecticut Electric _Service 1930 common share earnings, based on aver- #ge number shares outstanding 3.74 against 3.18. Cuban Cane Products 1931 produc- tion quota, 2,276,126 against 3,251,362 bags year before. o~ Cuban-American Sugar 1931 Cuban production quota 1,357,351 bags against 2 178,790 bags year before. Cuban Dominion Sugar Corporation protective committee formed for first lien 71, per cent bonds. Denver & Rio Grande Western Rail- road Co.—Rio Grande Scuthern Bond- holders’ Committee asks I. C. C. to re- consider decision _approving majority stock control of Denver & Salt Lake Railroad by this company. Doehler Die Castings 1930 common share earnings 4 cents, against $419. Dupont (E. 1) de Nemours & Co. cellttwphlne prices reduced about 16 per cent. Eastern Utilities Associates’ January gross revenues off 3.1 per cent; net operating revenue up 2.1 per cent; 12 months’ gross of 2 per cent; net income off 0.7 per cent. Eitingson-Schild propose reducing stated value of no par common stock. Electric Autolite February business 30 per cent above January., Current month’s sales expected to exceed last month by 20 per cent. Engineers Public Service, affiliate El Paso Natural Gas lets contract for 275- mile natural gas line. Pisk Rubber Co.—March 1 interest deficit, $719,308, not paid. General Electric to supply electrical equipment for four new. Panama Mail normal. To employ 300 additional workers, bringing pay roll to 7,500, against 6,000 February 1. Announces line, Deficit year ended Nivember 30, $498,- 528, against net income $1,576,914. Kansas City Public Service total re- ceipts January 1 to February 22 off 7.1 per cent. Long Island Railroad January net operating income up 11.7 per cent. McKeesport Tin Plate declares 50 cents extra and $1 quarterly common dividends. off about 8 per cent. Mengel Co. 1930 deficit $405,130, against net income $1,248,172, equal to $3.17 commcn share. Unfilled orders $2,268,000 on January 1, 1930. Montgmery Ward & Co. February sales off 17.1 per cent; two mcnths off 13.2 per cent. National Gas & Electric—Over 77 per cent of notes deposited; time .'mit for deposit extended to March 21 Neisner Bros. February sales up 9 per cent; two months up 17.4 per cent. New York Rallways January deficit after charges, but before adjustment bond interest, $10,493, against $34.242. Niagara Hudson shares common stock acquired from St. Regis making latter largest holder, with 22 per cent outstanding. North American Car directors vote to omit common dividends for two quar- ters; paid 62}, cents January 1 Paramount-Public subsidiary, Publix Theaters, Inc., sued for $1,136471 by Fashion Feature Stvdios for breach of contract. Pepperel Manufacturing advances blanket price 5 per cent. Pittsburgh Plate Glass to spend $100,~ 000 on betterments at Clarksburg plant. Pressed Metals of America 1930 deficit, $17,118, against net income, $108,483. Punta Alegre Sugar 1931 Cuban sugar production quota, 802,742 bags. Rockland Light & Power 1930 com- mon share earnings, 86 cents, against | 92_cents, Royal Dutch Co. 5 per cent deben- tures to be retired in Ma Mrs. Jlmu Mlnt.y who recently cele- huud her 1 an! its. Omatlp Motors—Frigidaire March oent over berdm mdmuu-. February, bringing operations up tm three-year quarantee on Frigidaire 1931 | Grand Rapids Store Equlpment—‘ McKesson & Rebbins 1930 net sales A, on January 1 totaled $1,440,000, against | BoS . Cel Power—4,070,000 | Fex Paper by United Corporation, | Noy D0 TUESDAY, MARCH 3, 1931. FINANCIAL, BONDS IRREGULAR | Cox v sonx BONDS sroce sxcan] by Private Wire Direct to The Star Ofice ' ONPOOREARNINGS:... %'Domeshc Group Re ects Re- cent Corporation Reports. U. S. Issues Steady. BY F. H. RICHARDSON, Special Dispatch to The Star. NEW YORK, March 3.—Such effect as the Treasury financing may have had on the outstanding Government loans | had faded away today, with some of the long-term issues strong and the others maintaining their price gains since the end of last week. Foreign issues today were active, but with profit-taking where there had been sharp advances, as in German obliga- tions. Domestic corporation bonds were irregular, with a number of them re- flecting the poor corporation earnings published by railroad and industrial companies. The market was of fair size. “There was some disposition to withhold pur- chases pending Wednesday's sale of $100,000,000 New York City 4% per cent bonds. Houses that specialize in Gov- ernment loans were also busy taking " subscriptions for both the short-term and long-term obligations. New corpo- ration financing today amounted to less than $20,000,000, but with the city and | Government loans behind it, Wall Street is expected to show greater activity in the matter of offering additional amounts of corporation bonds and pre- ferred stocks. Washington Sfock E;change SALES. Cnpltal Traction 55—$1,000 at 81, $500 Wl:hfihékwn Rwy. & Electric 45—$1,000 al 6 Washington Gas Light—§ at 1247, Anlit 124%. erican Security & ‘Trust — 345, 10 at 350. y ey b wuhmlwn Loan & Trust Co—3 at I‘nswn Monotype—10 at 105, 10 at 105, 10 at 105, 20 at 105, 50 at 105. AFTER CALL. Mergenthaler Linotype—2 at 865, 10 at 8612, 10 at 8672, 10 at 8615, 10 at 8615, 10 at 261;. Wnshlng‘on Rwy. & Elec. pfd—5 a 100 at 987, & gt Bid and Asked Prices. BONDS., PUBLIC UTILITY. Amer. Tel. & Telll 4':! Amer: Tl ST 40 Am: el & TeL etl. b Anscostis & Pot. B! . & Fo Bid. Asked. 101 100 Barber & Ross, Y GREVST dhate Erun el Columbla Country Ciub D, C_Paper Mfg. W. $4. Cold Stora . Cons. Title PUBLIC UTILITY. mer. Tel. & Tel. (9). c;mm Tucuon co i ash. Gas Li. Co. NortouC o’ w &eambenv. 2 Eot. Elec. Fower 67 pid Pot. Elec. Power s' pi Wash. Rwy. & El. Wash. Rwy. & EI. pid. (5 NATIONAL BANK. Capital (14). Columbia (12 37 132 s | Commercial (stammiied) (107 District (8) Fed.-Am. Nal Liberty {78) Lincoln (i2) Metropolit: TRUST COMPANY. Amer. Becurity & Trust Co. (15) Gontinental Trust (6) 1 Tt (135). Phice™ aeouu Bank & Union Trust (8s) Wash. Loan & Trust (1) SAVINGS BANK. P + aw g $Bu3E ty Sav | Seventh Street (13- United States (30). ; | Washington Mechanics (30 FIRE INSURAN American (12) 1 | Zorcoran, (1) Firemen | National" onon’ (i8) TITLE INSURANCE. | Columbia (6h) Real ‘Estate (65} Title & Inv. Co. oin. mscnuu!ous. 7 & Ross, Inc,, com, o i 26 Mtge. & Inv. pfd. (8 Peoples Drul skoru i) *Ex dividend. b Books closed. Hi . i DIVIDENDS DECLARED NEW YORK, March 3 (#).— Comp: | Am Do, oI. B-GSandw 6 e 3115 Biltmore, Hoats Lid & Prov RR. un s sc 55 susy a 58 Sl Curuu it "G hier D oY i EXfeleliERE E,:.'_ 90000 e BEesssy! Boosta &6 stemn (A) Co Sitiiners Selts Car. Balmer Bros s riletts Bot SPereRI Bos Strs 1% B Deterred. Kidder, Particlp Inc No. 2. ""L& Sales. 4 UNITED STATES. (Sales are in $1.000.) g} w. 3 10124 10120 102 26 102 20 200 103 28 103 18 254 12 22 220 20 101 100 26 100 21 100 28 1062 104 20 1072 106 21 12 111 FOREIGN. Argentine May "61. Argenti; Ju Argentin: Argentine | Argentl | Australia 4% Australia bs | Australia 6557, | Austria 7s'43. Bk of Chila 65857 Batav Pet 4155 '42. Belgium 6 '55. Belgium 6145 "49 Belgium 78 °55. . Belglum 78 ‘56 Bolivar 7s ‘58 Bolivia 7s et Bollvia 8545 Bordeaux 6s Brazil 6%s 26 Brazil 6%s 27 Brazil 7s Brazil 8s 4 Bremen 7s'35. Canada 5 lL oo TRuRoaN BaaNommm~ Chile 7 *42 “olomb 6s Copenhag 5s '52. Cuba 5%5°45...... Czecho 8 '51 Czecho 9s 52 Denmark 4%s '62 Denmark 6s ‘42 Duteh East I 6: Dutch East I 6s'62. El Salvador 8s'48. ., Flat 78 ex war '46. . Finland 6s *45. Finland 7s *50 Fram I D 7%s"42.. French 718°49...... French Gvt 7%s 41 Gelsenk'chengs ‘34 German §%s°6 German Bk 6s '38 German 6%s '50. German 7s rep Kreug & Toll 58 ‘59 Lyons 6s'34........ Marsellle 6s'34. ... Milan 6%s ‘52. New S Wales 65 '57 New § Wales 65 '8 Nord 6% 50 Norway 58 °6: Norway 515 '65. .. rway 65'43..... Norway 6s "44. Norway 6s°52..... Orlent dev 515 '58. Orfent dev 65 53... Paris-Ly M 65 '68.. Paris-Ly M 7s°58. . Paris-Or 535 '68 Peru 63 6 Peru 6s'6 Peru 7s '59. . Poland 6s "4 2 Poland 7s 47 . Porto Alegre 8561, Queenland 65 '47... Queenland 7s '41... 8. Riode Jan 6%s '52. Rio de Ja 46 Rome 614552, Roy D 4s 45 ww... Sao Pau 7s 40 rets Sao Paulo 8s 36 Sao Paulo 8s '50. Saxon 7s"45 Shinyetsu 6%s "52.. Swiss5%8°46...... Toho El Pow 7s 55. Tokio 5%3°6. Utd King 5%s'37., Uruguay 6s°60.... Vienna 6s ' Warsaw 7s ‘58 Yokohama 6s 92% 93 3% 9313 6113 674 67 101% 101% 102% 93 98% 104% 105% 99% 3% 106% 81% 88% 98% MISCELLANEOUS. AbitIbI P& P 6553 70 Adams Exp 4s'48.. 1 Allegheny 55 44... 23 Allegheny §s°49. .. Am Ag Ch 7%s ‘41, Am Chain 6s '33. Am F P 55 2030 AmIGCh5%s'4. Am Metal 5145 ‘34. . Am N Gas 618 '42. Am S&R 18t 584 Am T&T cv 4%8 39 Am T&T 68 "65..... Am T&T c tr 58 '46. Am T&T 58 s £'60. . Am T&T 65%s 43 Am W Wks 5s'34.. AmWat Wk 6s'75.. Arm & Co 4% "3; Arm Del 5%s 43 At Gulf 55 '59 At Ref deb 5s - Bell Tel Pa 6s B’48 Bell Tel P'a 55 C ‘60 Beth Steel pm 5536 Beth St rf 58°42... Bk Ed gn A 55°49.. Cert-td deb 535 *48 Chile Cop db 55 '47. Colon O1l 63 '38 Col G&E 58 Ma. Com Inves 538 '49. CC Md 1st rf 58’50 ConG N Y b%s"45. Consum Pow 58 ‘52. C Am Sug col 85 31 Det Ed G&R4% 861 Dodge Br cl 63 '40.. Duquesne 4%s '67.. East C Sug 7%s'37 Gen Cable 6% "47. Gen Motors 65 '37.. Gen P Sv 5%s'39 Gen Th Eq 65 "4 Goodrich cv 6 Good 15t 6%s . Goody'r Rub 58 '67. Hum O&R 6%s '62. I BTIistptssA.. 111 Steel 4345 '40. 1 Inland $t 4% Int Cement 68 "48 Int Hydro El 6544, Int Match 58°47, ImtT&Tbs th&Lt‘s-'fl‘l. Kan C P&L 68 A ‘62 Kend 535848 ww.. LacG St L65s34... Laclede 5%s C'63.. Laclede 5%s D '60. Lautaro Nit 6s'54.. Loowl(lwlr 41.. 2 's 63 ex war Lorllllrd 6851 Mont P db 6 A '62. Nat Dairy 5%s '4i N Eng T 18t bs '52. N Y Ed 1st 6841, NY ELH&P 58 '48. . & 63 101% 1085 1123% 1023, 103% 7 106% 34 s 105% 101% 96 99% Sales. High. Low. Close. 6 93 92% 93 93 126Y% 94 9% 88Y Pac T&T 1st bs '37. Pathe Exch 7s '37.. Peoples’ Gas 5s. Phila Co 58 °67..... Phila Pet 5% 839, . Por RT am 6s '42. Pos Tel & C 58 °5; Pub Sv G 4%s "7 3 11 5 14 Re; Rich Ofl cal 6 Shell Un O11 Sinclair Of1 8inc O Sinc P L 58 4. Skelly O11 51453 Solvay Am bs 42 Sou Bel T&T 58 41, SW Bell T bs StOINY 4%s Ttnn EI1P6s A7, Corpev bs Lnlt Drug ev b U S Rub 18t 58°47. . Utah P& L 58 '44. . Utll Pow 58 ‘59 Utll Pow 5%s '47.. Walworth 6s A 'll. 2 Warn Br Pic 9. 103 ernlr Sug 7841, 12 Ygstn Sh&T 5s l. 32 Sales. High. Low. Close. 106 104 104 0% 70 70 106% 106% 106% 101% 101 88 87 M 17 T4 T4 103% 103 %0 28 625 838 97 9T's 105% 105% 106 108 103% 103% 100% 100% 107% 107 101 100% 9% 1% 1018 3% 3% 81 81 % 6% 64 60% 106 106 100% 107 100% 9% 72 1024 3% 81 5% 60% 106 105% 104 1 100% 100% 101% 101% RAILROAD. Atchison gen ¢s'95 10 Atchiscy 4% 101% 101% 79 e - NOONHE HORMRERD B~ A RS~ RON Can Nat 68 July ‘69 Can Nat s Oct 6! Can Nor 6%s db 46 Can Nor 7s deb "40.. Can South 55 '62. . . Cent of Ga 5%s'59. Cent Pac 55 '60 Ty Bss anmmafn 1. CB&Q 11dv 335 ‘49 C B&Q L1l dv 4s 49, Chi & Eas 111 65 '51. Chi Grt West 48 '59 Chi In&L gn 5s '56. Chi M & St P ¢s'89. o i R G Chi & NW gn 4s'87. 88 ChiN Wst 4% c'31 5 hleW con CthlcVi%l'll’. H ChiRI&P4%sA. 30 Chi Un Sta 435 '63. C& W Ind cv 45'52. 34 C U Ter 438 2020. . Clev Term 4%s 71. Clev Term 5%s '72. Colo & Sou 4% Ii. Fla E Coast 58 '74.. 16 Fond J&G 4%s'52. Grt Nor 55'73. Grt Nor gn 6148’52, 11 Grt Nor gen 7. 10 Green Bay deb B... Hav El Ry 5%s'51. Hud & M ad) 6s'57. Hud & M rf 68 57 111 Cent ref 4s '55 11l Cent 4% 11k Cent 6%s ‘36 98% 98% 98% 17% 116 116 43 91, 91 96% 96%s 961 97U 9T 9T 101% 96% 96% 104% 103% 104% 108% 107% 104% 104% 12 112 87% 874 101% 101% 9% 994 104% 104% 103% 1035 108% 108'% 101% 101% 101% 101% 105% 105% 9T 9T 90 97y 87 101% 101% 5 66 66 444 96% 97 107% 107% 111% 1115 99% 100 96 95% 109% 109% lfll!fi 101% 6 Int & G N ad Int RysC A Int RysC A Kan CFtS&M 45'36 5 Kan City Sou 58’50 & Kan City Ter 4560, 1 Lake Shore 4s '31.. Leh Val cv 4s 2003, Long Isl rf Long Isl db L & N uni 4540 L&Ni1strfs%s... Manh Ry 1st 45’90 40 MSP&SSM %5 “5. MSP&SSM 5387 Mo Pac 6s G 7! Mo Pac 5s H '80 Mo Pac ref 55 '81. Mo Pacb%scv 49, r Pac 4 047 for Pacr1682047. 14 re Short L 5s gtd. 10 1085 101% 101% 5 98% 984 100% 100% 105% 105 57% B6% 97 97 101% 101% 88% 88% 9% 91* ’!% !l!fi !M m 71 w11 4% 94% 94% 7% 117% 117% 105% 105% 105% 42% 42 58 52 61 61 99% 113% 08% 108% 98% 98y W 108 % 99% 99% 3% 118 18a2: i 1rts; mmgnk MARYLAND BEEF COW HERDS ON INCREASE University Expert Reports Addi- tions to Cattle Breeding in State. ‘Within the last few days two new beef cow herds have been established in Maryland, according to K. A. Clark, P.rmk animal husbandman, College Dr. Willlam H. Trail of Washington, whose farm is near Rockville, in Mont- gomery County, has just purchased six purebred Aberdeen-Angus cows of ex- cellent breeding. He expects to fllem this number ccnsiderably and engage in the production of strictly high-class beef steers for the has entered the ranks of Maryland cattle~ men. Mr. Collins’ farm is on the Po- tomac River in Prince Georges counly. His cattle were cbtained from the her of M. C. Sherman, Queenstown, lld. Inml in ‘l‘l". land, .l,:;rhdlnl Mr. crease , to Mr. Clark, who stat this t; of cattle production is well adaj farms and country former, lzllthel\moftheapen a minimum of laber, to say nothing. of their unusually fine appearance on flas landscape. This section formerly pro- duced many more beef cattle than at present, especially for the export trade. Production is now entirely on & do- mestic basis. Washington Produce Butter—One-} d 33! tub, ml eomn e RN broilers, heavy, Ry R ; keal 1d, Dressed—1 4 123%; -mhed hams, zuzr mmt nwuld:n. , 19; lard, in packages, 1 AIMhalnerl Go I' 1937 America . 3% American Thiead 31 Baltimore & Ohio 4 Batavian Pet. Corp. 4 w Yor] Biihie Fetcolcnm Go §108 S 1997 SasEEs s 3! Sflgfiggs 3! 538! FERE #S g Steel Corp. 5 Wheeling Steel Gorp. 4 TREASURY CERTIFICATES. rted by J & W. Sell ) o Reporied by eman & o) June 15, 1931. 1981, 415,800,000 pounds of fish were l there by fishing vessels lolt Penn gen 4%s'65. . Penn 4145 ‘70 Penn 4%s 63. Penn 5s '64. .. Penn 633 '36. Pere Mar 4135 '80. Pere M 1st b8 56 P CC&StL 4%8'77 PEW V4% . Read gn 4148 A 97, Reading 4%s B RIAr&L 4% StL IM R&G 4 88% |St L&SFin StL&SF4%s'78, StL&SK men 55 °31. St L & SF gn 6s'31. StLS Wev4és'3z Sea All Fla 63 A '35 Sou Pac coi 43°49.. Sou Pac ref 45 55.. Sou Pac 4% °68. .. Sou P 4%5°69 ww. Sou Pac5s'34..... Sou P&OT 434817 oy RS0 wew Tex & l’icl.l"l'l. Tex & Pac 5s C 7! Texas Pac 55 D '80. Third Av ref 4s Third Av adj 5= '60. Va Ry ist 6862, Ulst & De 5s ctf "28 Un Pac ist 48747 Un Pac rf 48 2003 . Un Pac 4s '68 Wabash 1st b3 '\‘lh‘lh 24 ll_' 3 8g§3 - n-uaun’ EYS TR §ges 2 238 * E-. & ‘est Pac Wat Sh 1st 48 2361.,