Evening Star Newspaper, March 9, 1931, Page 14

TA—14 ew FOREIGN TRADERS ' REPORTED AGTIVE Prospect of Higher British Tax Rate Diverts Funds to Wall Street. &L BY JOHN F. SINCLAIR. @pecial Dispatch to The Star. NEW YORK, March 9.—From a re- sponsible source comes the information that the present stock market activity is very largely due to foreign money, which has been arriving in New York at the rate of several million dollars a “If you check carefully you will find that the stock market activity began within three days after Chancellor Snowden made his prediction in_the British House of Commons that Brit- ish taxes must be increased,” said my informant. “From that day to this large British financial interests, as well as those from other nations, have sent a great deal of money over here for investment and speculation in the United States. My guess 15 that 90 per cent of all the stock buying today is fl\le to this money and credit from abroad.” This is an interesting and, if true, most important observation. It would indicate that the long-suffering Amer- ican public has not yet recovered its nerve and its pocket book sufficient to resume optimistic operations in Wall Street. French Lending. ce is leav! no stone unturned lnr:n“enon to wfll&me a world banker, A few days ago it was an Italian loan. Now a $26,000, 03? loll'l to Rumania has b‘:? is understood '.hlt the loan will be offered to investors at 81 and bear interest at 71 per cent. This is in contrast to the first Rumanian stabili- zation loan issued two years ago, which ‘bore 7 per cent interest and was issued at 92. ‘While the ;"“:fh srl;'}le’rmaent 16!%: ha any offici icipation in m:mviyly, nunpl.s no question but that the government has been co-operat- ing in every way it can, to secure the buslnen for Prench bankers. as this is af\l:hofktzle wl‘— ubout 4,000,000 of le Roumanian I::‘;l is expe‘ched to be sold in the United States—a loan to the Greek govern- ment. will receive close attention in Paris. The Greek representatives have been visiting Paris and London recently, seeking $40,000,000 for the orki hard to take ‘lead awa; fr:m I‘:gdan. as the financial center of Europe. ‘The a| lnt.ment of Dr. Owo Kiep, ot German nm.lnle 'mbassy e g‘ be consul lum'll lt hington. York City, comes as good news to glee'flmuundl"yo( b\ulnen men through- vice. The doctor has been counselor of the embassy in Washington for The retirement of Lord Arnold from . For Lord Amold is emfimgu‘efl.mpflm ‘Donal t.h:?sdcrouhemod lnt.hgdfl'm-n ‘Commons, I asked him mflmuxmmhu '.he pt\)hlem:e s financial xmummmhmmm Snowden. But he surprised n-w-y!nl: “Sidney Arneld is the man. He's not so technical as Phil Snowden, buld'.he sweep ot'l:lg mind very wide and comprehensi t request, Mr. MacDonald made mAlnlx.gfidkh tment with Lord Arnold for me. !mmdmm--mnl‘k Upper House. m;flow at 53, he retires from active mwu life. He was & ubgfl“n member id accompani MacDonald to the United States last Advertising Light, Alfred Gauthler of New York has been working for the last six years perfecting & 91- m!mon-undlz-pmver searchlight, to project advertising mat- ter for 50 miles in colors on the sky, without & background. The Gauthier light operates from a carbon arc, and has a 24-inch lens. The rays pass through a stencil, and at a certain distance the letters appear etched in the beam. To read the sign reasonably well, when the small light is being used, one must be it & m':luemlvly d‘i:‘ the large light—the 91-i lon-candle-| er searchlight—throws the zdvam'k vork over h space from New an e New Jersey sky. Mr. Gauthfer is an_Alsatian, who has been in the United States for the last 20 years. Every night this 91-million- candle-power light pierces tlie heavens above New York City and New Jersey. 1° has power enough to illuminate every apartment in New York City. Yet 1t costs but 42 cents an hour to operate and $20.000 to install. And Mr. Gauthler says that it will penetrate mist, snow and fog without difficulty, and its pure white rays are without glare. (Copyright, 1831, by North American News- paper Alliance.) i RAILROADS SET RECORD FINANCIAL., THE EVENING STAR, WASHINGTON, D. C., NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office. (Continued From Page 13.) 38% Myer (FE) & 27% Nash Motors (4) 7% Nat Acme (80¢c) 33% Nat Dalry (2.60).... 12 50 Nat Dept St 1st (7).. 108 1% Nat Dist Prod (2)... 4 136 Nat Lead pf A (7)... 20. 48 Nat Steel (2) 3 59 Nat Supply (5). 6 41% Nat Surety (5) o ‘% 14 Neisner Bros (1.60).. 4 10% Nevada Copper (1).. 6 wton Steel. 3 ll! N Y Central (8). 82 85% NYCM.S!LD!“) 1 165 N Y & Harlem (5)... 80! 8% N Y Inyest (1.20 75 N YN H & Hart (6).. 2 100 N Y Steam pf (6).... 10s 111 8915 Norf & West pf (4).. 208 4% North Am Aviation., & 62 Nor Am (b10% stk), 38 53 North Amer pf (3) 4 102 North Am Ed pf (6 1 24% No Ger Lloyd(a3.48). 9 47% Northern Pacific (5). 10 43 Northwest Tel (3).. % Norwalk Tire & Rub. 14% Ohto Ofl (1)........ 3% ouvqE r Farm Eq new. hnmr 2%).. 33% owan- lll Glass (3)., 45% Pacific Gas & El (2).. 50% Pacific Lighting (3). 16% Pacific Mills. .. 116% Pacific Tel & Tel (7) 8% Pack Mot Car (60¢c). 2% Panhandle P&R.... 10 Panhandle P & R pf. 36% Paramount Pub (4).. 5% Park & Tilford 3% Penn Dixie Cement. 655% Penn RR (4).... 200% Peop GasCh (8).. 16% Pet Milk (13)...... 6% Petrolm Cp of Am(1) 7% PhilRead C&1..... 11 Phillips Petroleum 68% Phoenix Hos pf (7).. 19 Pierce-Arrow A (2).. % Plerce Oll... 9 Pierce Oil pf. 26 Pillsbury Flour (l).. 22 PittsCoal... 76 Pitts Steel pf (7).... 1 3% Pitts Terminal Coal. 25 Pitts Term Cpf..... 16 Port R Am Tob A 3% 25 Postal Tel&Cable pf. 12% Prairie Of) & Gas (2) 17% Prairie Pipe L (3)... 4 Pressed Steel Car.... 354 Pressed St Cpf (7).. 63 Proct & Gamb (2.40) 148 PubSvNJpf (8 49% Pullman Corp (4, 34% Radio Corp B (5) 156% Radio-Keith-Orph e 18% Raybestos Man 2.60.. 21% Real Silk Hos (3). 14% Remington-Rand.... 8 Reo Motor Car (40¢). 40% Reynolds Tob B (3). 28% Rhine W El P(a2.14) 2% Richfield Oil. 37% Royal Dutch m1. 38% Safeway Stores (5).. 86 Safeway pf (6) 98 Safeway Strs pf (7). in- 38% St Louls & San Fran 2 61 8t L-San Fran pf (6) 23 8S:L Southwestern 614 Seagrave (60c). . 44% Sears Roebuck 32%.. 40 Becond Nat Inv pf... Shell Union Oil..... Shell Un O1l pf (5%) Simms Pllrohum. Sinslair Con Ol (1 Bkelly Ofl... Skelly Oil pf (6) . Sloss Sheffield St pf. Snider Packing...... Solv Am pr ww 6%.. % South Port Rico Sug. 4 Sou P Ric Sug pf (8) 1008 Souta Cal Ed (2) 10 South Pacifio (6).... 47% South Ry (8).. y. 53 6 103 b4 qaacagaaaaaa nRRRRRNRERN 100 5 Unit of tr il '_l‘::.n'bl. o cash o 53 53% Stand Brands pf (1) Stand Comel Tob. Un Ofl of Cal (2).... Un Pacifle (10). Un Tnnkcnx .60). . Unit Alrcraft®?.. Unit Afrcraft pf (l). Unit Carbon. Unit Cigar Store Unit Corp (76¢c) . Unit Corp pt (3) Unit Dyewood. . Unit Electric Coal. Unit Fruit (4).. Unit G & Im pf (5).. Unit Plece D W (2).. Unit Plece D pf 6%.. U S Distribut pf (7). Indus Alco (6) Leather. Leather A Leath pr pf (7).. Plpe & F (2).... P&F 1st (1.20).. Realty & Im (3). Rubber. .. Rubber 1st pf... Smelt & Ref (1). Smhnetpn%. Univ Pic 1st pf (8).. Univ Pipe & Rad Utll P&L A (et2. li). Vanadium Corp (3).. Va-Car Chem. .. ‘Wabash RR. Woolworth (2.40) Worthington Pump. . Worth Pump B (6).. Wrigley (Wm) (4).. Yale & Towne (2)... Yellow Truck. . Youngs Spring (3) Zenith Radlo. RIGHTS—EXPIRE. Pac Gas & El. Mar 11 29& Sou Cal Ed.. Sales of Stocks on New York Exchange. Dividend payments based on th "B Plus 3% 1n stock. .k Plus ELA —non regular rate. n Plus 6% in Stand O11 Cal (h2%). Stand Ol N J (12)... Stand Ofl N Y (1.60). Starrett (LS) (12%) Sterling Sec A...... Sterl Sec pf (1.20)... Stewart Warner. Stone & Webster (3). Studebaker (1.20)... Sun Ol (11).. Sun O11 pt (6).. Superior Ofl. . Superior Steel. Telautograph (1.40). Tennessee Corp(50c) Texas Corp (3).....: Tex Gulf Sulph (4). Texas P C & Oil... Texas Pac Land Tr. . Thatcher Mfg (1.60) Thermoid Co. Third Avenue. ... Third Nat Invest. Thompson (J R) (3). Thompson Pr (2.40). Thompson Staryett. . Tide Water As (60c). Tide Wat As pf (6).. Timken Det Ax (80c) Timken Roller (3)... Tobacco Products. .. Tob Prod div ctfs B. Transamerica (1)... Transue & W (1).... Tri-Cont Corp...... Tri-Cont Corp pf (6) Trico Prod (2%). ... Truscon Stl (g1.20). Twin City RT pf (7) Ulen & Co (1.60).... Und-Elliot-Fish (8). Un Carbide (2.60)... 9 » poaBanScananan~ o 8 War Bros cv pf ( Wess O1] & Snow (2) West PaElA (7). Westing A B (2).. Westing E & M (5). . Westing E&M pf (5) Wextark Radio Strs. White Motors (2)... White Rock MS 14%. ‘White Sewing Mach. White Sew Mach pf.. Wilcox Ofl & Gas. ... Wilcox Rich A (2%) Willys-Overland an % [OF-1- TP e B e oS- & v B 19 .Apr20 7 2% 2% o o tPartly $Plus 16008 3% "in SiBek. s Baia oas e yable in stock. d Payable when earned. 1 Plus 8% in € Plus 6% in stock. stock. in stock. m Pald this year CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. mmu YORK, March 9—The follow- a summary of t corpora- tion by the Standard| Statistics Co. Inc., New York, for the Associated Press. Weekly News Review. lnuutueo!:decunmxmkmn ket, the extraordinary re to the henvy Tressury bond ofler last week was of a serfous interest. mre Was thereby revealed an unexpected volume of investment funds whicl satisfactorily accounted for by the re- moval of market uncertainty over the IN FUEL CONSERVATION = Bpecial Dispatch to The Bty NEW YORK, March the United States in 193 ew low level in fuel consum, P cording ‘com] re) mfl: fl'.:nthpe Am"‘m!l:fll = sociation. average o pounds fuel, or 4 pounds less than the previous mr::'m ks 100 tana of Iretahs and O] an Cquipment 1 mile. A new record was 2iao established in the conservation of fuel in service, 14.7 pounds Been " feq each train car 2,568 m 341 ullonl o 1o PARIS BOURSE PRICES. ‘The stock market, on the other hand, undue o] nation for this 'h cannot be|in 19 direction after increases reported for each of the four weeks since February 4. Industrial news during the week was omnhldn'ed by reports of drastic price cuwnf ofl. In view of increased ty met in luemvun‘ to reduce larly in the Southwest, by a Standard of Indhnl the Mid-Continent area was n&n a great surprise, nor were consequent reductions by a Standard of New York subsidiary and others, extendin; t’hm East and West. Nevertheless, the resulting low- rice levels constitute a serious threat the success of important prorations agreements. n.lll traffic, as measured by carload- ell to 713,938 for the week ended Pe 21, 6,751 under the preceding week. Electricity output for the week ended February 28 was rted to have fallen 4.8 per cent from same week More X -term reports were received from e steel industry, showing February increase in pig iron output of about 10 per cent and also a gain in ingot output. Auto- mobile schedules for March were re- ported increasingly generous—in fact, an increase of 25 per cent to 30 per cent over February's output of around 220,- 000 units is expected. Dividend Reductions. Despite early indications to the con- { | trary, latest reports of ch;l: store sales g?eu wsek‘l ewpon'a news. Reductions General output in February off 7.5 per cent; 2 months, off 9 per cent; 12 months, off 7.2 per cent. Gas output in Fel ruary off 6.5 per cent; 2 months, off 72 tper cent; 12 months, off 4.6 per cen Courtaulds, Ltd., chairman forecasts - poor current year. Curtiss-Wright Corporation subsidiary ggts Navy order for 47 planes. Houdallle-Hershey Corporation class A dividend believed safe, despite deficit for 1930 and uncertainty over March quarter results; eventu-l share exchm;e offers for M\ukegon Specialties stock expected. Imperial Chemical Industries, Ltd., di rectors recommend 3 per cent final common divider 6 per cent MONDAY, MARCH 9, 1931. FINANCIAL. FOREIGN BOND LIST | Cox = son BONDS roce scaer] Private Wire Direct to The Star Office CONTINUES STRONG % " 9% | Domestic Issues Irregular, With Prices in Narrow Range. BY F. H. RICHARDSON. Special Dispatch to The Sta; NEW_XORK, March 9.—While there was soffie profit-taking in European dol- lar loans that had sensational advances last week, the upturn of foreign obliga- tions was generally continued on the bond market today. At the same time domestic issues were inclined to com- parative inactivity, with irregular prics fluctuations. There was considerable talk around the Street of the coming of some heavy public utility financing this week, and this proved a deterrent to those workl for a general advance of domestic bond.l Money rates were unchanged and the supplies on hand were as large as at any time during the recent period of cheap money. Issues of the Republic of \Colombia and the Colombian states occupied the center of the stage. Antioquia 7s of various maturities ran up 2 to 4 points to new high levels for the year, making gains of 8 to 12 points on the current move. Colombian Government 6s were 1% points higher and Colombian Agri- cultural Mortgage Bank issues also ad- vanced. ~German Government 5%s were off fractionally, but firmness char- acterized Reparations 7s, German Cen- tral Bank bonds, German municipals and a group of German industrials, of which the most active were United Steel ‘Works 6%;s and Siemens & Halske 6%s and Ts. Australian bonds were unchanged with the exception of Queensland 7s, which gained a point to a new top on the movement. Sao Paulo issues moved higher with the exception of the Coffee loan 7s, which, after a wide gain last week, were subjected to profit realizing. Italian bonds still reflected in firmness the priming of the market for a new Italian loan. In the domestic list the 6 per cent convertible bond of Warner Bros. Pic- tures P"d to a record low price on heavy selling. Since this did not co- incide with a corresponding decline in the stock, the weakness to the liquidation of a large account in these bunds Oil bonds were still inclined to especially Shell Union 5s, Phillips’ Petmlzum 5l and Skelly Oil 5%s. Some secondlry rail- road issues were sold, such as Erie 5s, Frisco 4%,s and Missouri-Pacific gen- eral 4s, but there were small gains in Mlegluny 5s, Chicago Great Western 4s, International Great Northern ad- Jur:ltm‘e.‘nu and Southern Rallway gen- e High-grade investment bonds were all firm or a shade higher. Washington Stock é;change SALES. Capital Traction 55—$2,000 at 81%. Washington o A ssno at'102%. Washington Ry, —10 at 98, 10 at 95’/4. 10 at 9. o B it 985, AFTER CALL. Potomac Electric Cons. 55—$1,000 at 102%, $1,000 at 102%. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Tel Amer, Tel. Wash. Gas 65, series A ash: Gas 6, series B! ash. Rwy. & Elec. 4s Barber & Ross, Inc., Chevy Cnase Club 8 Columbia_Country Clul D. C_Paper Mf, it STOCKS. PUBLIC UTILITY. Amer. Tel. & Tel. (9. t. Pow. 6 Pot. !m Pow. 5';'e pm Wash. & Elec. Wash: Rwy. & Bl pra ) NATIONAL BANK. Sec. & T ; conun-nul Trust (6). s & Trust' (i21) Prifice Georues BE. & Trus Uhilon, Trust (8s) Washington Loan & Trust’ (14). “SAVINGS BANK. Bank of Bethesda (6§). ‘| Commerce & llvlnfl) East Washington ( Potom: ety dav Seventh Sireet (1) United States (30) . Washington Mechanic: FIRE INSURANCE. American (12). 8) National Unfon " (18)" TITLE INSURANCE. Columbia (6h) . Real Estate for year, against 8 per cent in previous Fe year. Kansas City Public Service February | M T} recelpts off 6 per cent; two months, off | Mergenth 6.2 per cent. Kansas City Southern Railway.—In- terstate Commerce on rejects | petition of cotton belt minority stock- holders for reopening Clayton act case | ¥. involving cotton belt. Ley (Fred T.) & Co., Inc.—50 cents dividend; paid '15 cents’ January 2. Libby, McNeil & ubbey reported gx-y supply canned goods to Swift & Lone Star Gas Corporation 22 cents quarterly common dividend, equal to about 25 cents quarterly; prior to 14 per cent dividend asks tenders of 5 per :;gg 5;!;benmru sufficlent to exhapst MONEY MARKET. NEW YORK, March 9 (#).—Call mont{u 2%, 481%; three to four 1%a2; five to six months, 2% Prime commercial paper, z,a & 2%. Bankers acceptances unchanged; 30 days, 1%alle; 60 to 90 days, 13a 1%,; four mnuu 1%al%; five to six months, 17 1=/ IETAL MARKET. NEW YORK, March 9 INM l")—oogper Tovmioss Iron quiet; N York, 4.60; East St. Louis, 4. steady; East St. Louis spot and future, 4.05. Antimony, 7.00, Quicksilver, 101,00, Jm have many _curious "IWD“M chief mwmhm‘%“m BULLS ARE ENCOURAGED AS SELLING DRIES UP|} By the Associated Press. NEW YORK, March 7.—The absence of fresh nelung in volume early today provided a source of two-fold satisfac- t.lunwthnpma!t.hgwecnhmn fraternity which is casting its lot on on_the constructive side of the market. In the first place it demostrated clearly that t.he public which ums into the market on the February rise had not become frightened by the sharp UNITED STATES. (Bales are in $1,000.) Lib3%s Lib 18t 4% Lib 4th 4%s. . US3%Ks'ds. US4%s 52, High Low. Close. 3 10124 10123 10124 28 10226 102 22/102 25 17 103 23 108 20 103 21 51012 101 1012 6 11121 11114 11120 FOREIGN. Bolivar 7s ‘68 Boltvia 7 o Chi Ch! Czecho 8; Czecho 9s Denmark 4 %s ‘62, Denmark 5% '65. . Denmark 6s ‘4 Dutch East I Dutch East I Dutch East 1 Ftat 7s ex w: Finland 6% Finland 6s *45 Finland 7s ‘50, Fram 1D 7%s French Gvt 7%s Gel 'nk'chenl ‘34 German 7s rep Ger Gen E1 78 '45. Greels 6563, Halti 6552, Hol-Am ss £ Street attributed the | Italy 7 Norway 68 Norway Norway 6s Norway 6s Norway 6s Orlent Orient dev 53 Paris-Ly M 6s 5 Paris-Ly M 7s'58.. Paris-Or 5%s '68. 60 Queenland 7s *41 Rhinelbe Toho El Pow 7s '65. Tokio bs * Utd King 6%s 'l1. . Unit SS Cop Saar.. Uruguay Uruguay 6s "o ‘Uruguay 8s *46. Vienna 6s ‘52 105% 1 100 100% 5 81% 93% 106% 101% 83 83% 81% 100% 100% 89 88% 70 67% 100 99% MIWELLANEDUI. ADItibi P & P 61 Ab & St un'n‘ Allegheny 55 '49... Allis-Chalm 58 '37. Am Cot O db 55’31, 6. Am T&T 588 £'60. . Am T&T 5%s ‘43 Bell Tel Pa bs B *48 Bell Tel Pa 55 C '60. Beth Steel pm 6 Beth St rf 5s "42. Bk Ed gn A 5549 Cert-td deb 5%, Chile Cop db 7 Col G&E 5s May Com Inves 6%s CCMd1strf 5s'50 ConG N Y 6%s"45. C Am Sug col 88 '31 Hum O&R 5%s 'cz. I BTIistpfSsA.. 111 Steel 4345 *40. Inland St 414578 |lnlnnd Stl4s B'S1 nt Cement 68 ‘48. . (m Hydro El 6s "44. Int Match 5847, ln! PID 6s A'l'l Pap Kan C P&L 5s A '53 KanG&E 4%s Lackaw St 6s '50. lede 5%s C declines which have marked trading | Loe: at intervals this week. Brokers had no important accumulation of outside sell- ing of Friday’s l.ng WS tm' bear account of course a substantial in the market's technical U. S. TREASURY BALANCE. 'l‘heUnlM States Treasury balance (elolldb!m ition. 5 - - aBrnRe nBonanBaan B 71 9% | L & N 4% 2003, 10 106% 106% 111% 111% Nor St Pwbs A '(l. 10 108% 108 103% 12 104 108% 108% 1 107% 107% 107% 4 94 93% 93y 14 69% 69% 69 16 WZV- 102 102% 8% T8% 8% 78 T4 TT% 105% 105% 105% T0% 68% 684 103% 108% 103% 103% 103% ma% 1 93 2% 90% 85 61% Shell Un Ofl 53 47. 79 Sinclalr Ol 6%5'38. 95% 95% Sinc O 7scv A 37 9 98% 98% Sine Cr O 6%s 38 102 101% .102 100% 100 78 1% 18 97% 97w 9TH% 105% 105% 1054 104% 103% 104% 100% 100% 100% 104 10% 10% 107% 107% 107% 100% 14 100 100 999(\ 99% 1% T1% T1% 103% 103% 103% 4% T4% T4% 81% 81 81% 27 25 25 %% 75 75 57% 508 50 Pure Oll 5%8°37... Rem Arms 6s A ’". Rem R 1 lfl% 85 61% 9% Solvay Am 58 Sou Bel T&T StOfIN J 58 SugEsOr7s Tenn E1 P 6s A 1., Tex Corp cv bi Unit Drug cv b: Hl U S Rub 1st 5 Utah P & L 6844 It1] Pow 58 ‘59 wr Utll Pow 5%8'47 Vert Sug 1st 7s *42. Walworth 6s A "45. Warn Br Pic 6s°39. 140 West El deb5s'44.. 5 105% 105% 105% West Un Tel 55°61. 15 104 103% 103% West Union 6 5 104% 104 1044 West Un T 6%s°36. 3 109% 109% 100% Wh Sew Mch 0. 81 318 Wil & Co 1st 65 100% 100% 100% Ygstn Sh&T 58°78. 58 102 101% 101% RAILROAD. Atchls 45 1905-55 2 9T% 97w 9% Atchisonadj4s'95. 1 96 96 96 Atchison gen 48°95 16 98% 98% 98% Atchiscv 4%8'41.. 2 117 117 117 AtCL4%s’64. 9 100% 100% 100% +e. 18 98% 984 98K 33... 2 101% 101% lolu . 34 964 9 5 104% 104 ll)dv- 12 104% 104% 104% 15 110 110 110 11 98% 98% 98% o oo » » aoons da abluaan . 3 24 102% 102% 102% 11 1027% 102% 102% - 2 82 81% 82 54 101% 101 101% 3110 110 110 5 89 8 89 11 100 g9% 100 16 1004 99% 100% 17 100 99% 100 6 102% 102% 102% 2 106 105% 105% 19 106% 106 106% 5 106 105% 105% 1 118% 118% 118% 5 1124 112 112% Gont of Ga 5143750 Cent Pac 4s°49. 31 106% 105 105 2 113% 113% 113% 29 101% 100% 100% 2 105 105 105 17 101% 101% 101% % 1% Tow 97% 89 981 98% 46% Chi & O gn 4%s 92, Chi& O 4%sB'95 Chi & A1t 30 CB&Q CBaQ Hh dv 4a-as. Ch1 & Eas 111 68 '51. Chi Grt West 4s 59 Chi M &StP 4 Ch M&StP 43589, Chi M StP&P 5s 75 Chi M & St P adj 5 ChI&NW g 33%s 87, Chi & NW gn 45 '87. Chi N Wst 43 ¢ 37 Chi & NW con 4% s. Chi&NW rf 53 2037. Chi Rwys 5827 Chi RI&P gn 4 ChiR1& Prf Chi R I'ov 435860 CHiRI&P4%sA. Chi T H Inc 65 '60 C& W Ind cv 4s ‘52, C& W Ind 5% e CCC & StL 58 D 8% 89 89 101% 101% 101% 70 70 70 94 94 993 9 AR EANND R~ BRwaE NS - 5 loil‘ 3 104% 104% 104% [ tim 1 103% 108% 103% 2107 107 107 1 109% 109% 109% 8 lolv. 101% 101% 2 6815 681 70 70 8% 78% 45 Clev Term 518 '73. Colo & Sou 4348 '35. Cuba RR rf Cuba Nol" 5%35'42..100 45% 45 Del & Hud rf 4843, 20 97% 97% 97% D&RGrgn4s’'36. 39 974 96% 96% D&RGr4y 2 100% 100% 100% D&RG Wbs's 2 80% 80Kk 80% DRG& Wst 2 83 83 83 E Tenn V & G bs. con 4s A ‘53 7!‘6 8 107% 107% 107% 5 6% 1T5% T5% Ga & Ala llt 55’45 Grt Tr Grt Trunk 1 40 Grt Nor 4 6 Grt Nor 4%s 77 E. Grt Nor 1st §s. Grt Norgn 5% Grt Nor gen 7s ‘36 Hud & M adj s '57. Hud & M rf 58 57 111 Cent ref 4s '55. 111 Cent 4% I CCStL&N 68 A.. Int Rap Tr 6. Int Rap Tr sta Int Rap Tr 6s 3. 55% 4 107% 107% 107% 6 112 111% 111% 1 99% 99% 99y 9 99% 99% 99% 3 101% 101% 101% 1 110% 110% 110% 21 112% 111% 112% 2 1% 1% % « 28 100% 100% 100% 2 92% 92% 92% 29 95%' 95% 95% 19 101% 101 1014 2% 72 Int & Gr Nor 65 '56. Int & Gr Nor 6s '52. Int& G Nad 6s'52. Kan CFtS&M 4s ‘l( 81% 7 102% 102% 102% 1 95% 95% 95% 1 85% 85% 85% 88 95% 95% 2 101% 101% lOl‘/A 1 98% 98% 981 3 100% 100% 100% 1 96% 96% 96% 7 102% 102% 102% 18 89 88K 88u 9 98”. 98% 93% 91 29 100% 100\6 100* 2 sl mm. 90«. 6 93% 931 93% Long Isl db 5s '3 L & N uni 4s"40 Market St 7s "4t M StP&SSM con 4s. M StP&SSM 6s gtd. MR&T M t 45°90. MK & T adj 5s'87. MK&Toprl Mo Pac gen 4s '7| Mo Pacbs A 117 94% 94% 1 94% 94% 94y 30 94% 941 '94% 6 95u 95 95 97 97 80 80 19 100 99% 99% 4 95% 95% 95% 5 100% 100% 100% 10 96% 96% 95% Mo Pac 5s H Mo Mo Pac 5ltscv '49. Mobile-Ohio 55 '38. Mont Tr 1st 63 "41.. NCh&StLd4s'78.. NOT&MOBsA'35. 'WAll STREET SEES TURN FOR BETTER Traders Believe Political and Business Conditions Are Now Improving. BY CHARLES W. STORM. Editor the News Service of Wail Street. Special Dispatch to The Star. NEW YORK, March 9.—The mag- netism of advancing prices last week has convinced Wall Street operators that there really is an improvement in world-wide political and business con- ditions and that while earnings for the first quarter of this year will not be favorable, there has really been a change for the better and that the momentum of improvement will be ac- celerated by an early Easter. For a short session of two hours; the general list made rapid headway on the upside on Saturday. The same specu- lative leaders which led in the sharp reaction were prominent in the ad- vances, the gains ranging from 2 to 5 points in the most active issues. Au- burn Auto moved in an unusually small price range, but this was undoubudxy due to internal conditions which have arisen in the group which has been operating in the stock. Those who have been persistently bullish on Auburn Auto for months were again prominent as buyers of the stock. Nickel to Be Raised, Rumors were current today that the price of nickel would be advanced. such proves to be the case it will be the first time in several years that the price of nickel has been changed. 10 104% 104% 1043 | 86 86 86 Foreign Power A substantial part of the foreign revenue of these companies is in silver, so that improvement in its price means greater revenues for those companies. Public Utilities Strong. Public Utility shares continued to show activity and strength under leader- ship of Standard Gas & Electric, mmed Co Llnn.iAm’lzrhn& - tional _Telephone le(n SR Tl TR was ive a prices. A big short mmimm declared to have been caught in American & Foreign Power. Motors Strong. Realization that a nlhlhnual part of the veterans' bonus money is into automobiles which uu for a low sta the Chrysler business is increasing preciably and that the company fi poscspuuingmltlmrltlm 1 with Ford. General Motors was prominent for its strength husmuuh as m low priced Chevrolet is also favorite purchase by the veterans. Merchandising Stocks. Some of the most ing houses in the attention th’ the! merchai stocks. R. & Co., McC: and l. C. Penney are the favored lwckl t this e. ‘These com increase in revenues is r!.flectql a two-fold increase in net. (Copyright, 1931. by No 31, by North American News- was regarded (% 1 bx Wz as a fa e E. F. Embwn & ok ul Co—The of stocks have not ptovedm'.hemlelm one way or the other, but we do feel that the chances for a market a stronger and a reaum tion of - oty P of February’s uptrend chk.la‘n Bros., Boesel & Co.—Current devgzpmenu in connection with several in cnmmndm prices md even improvement in some Talhe magket Suceantions pav ceerd lug lons hav day to day ar. course of prices e'xtremely view is that a new large short has been built tgfi forms an important back-log upon which resumption of the advance will develop when b\ul.nflsg news becomes encouraging. Telephone Concern Merged. t, our interest Sales. High. 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