Evening Star Newspaper, March 11, 1931, Page 14

WASHINGTON, D. C, FINANCIAL, mfifig%m;fiammmm = SUES BY UTLITES FINANCIAL. THE EVENING STAR. WEDNESDAY, NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office. Stock and Dividend Rate. ~Prev. 1030~ GANS RE NOTED N QUET NARSET,, (Continued From Page 13.) Moody Review- Stresses - Re- .. ¢ent Marked Changes in " . Cotton Situation. Dispatch to The Star. m YORK, March 11. —-mm- tion -of a moderate upward trend in business during February is noted by Service. Classifying cotton has im. mmlenfly to nhe the tnd\lm’! the lowest. to the intermediate ranking. Gains in for manu- 1utun¢ cotton goods, strengthe) ton prices and better political con- dmnnl in India are among the causes for the higher rating. Since the the year, three beginning of other industries have moved from the lowest to the “fair” classification. These comprise automobliles, ‘rayon and tires and rubber. Included in the present hl(but ing are can manufacturers, che ele.trlc power and llw products, o l‘ll:-lnl now ul‘l:““‘ml- iwnl ments, automob! cotto! eowr; electrical equipment, man packing, nwum pictures, blhh- WORLD PROSPERITY 'WAITS U. S. PICK-UP {Theodore Knappen Outlines Rea- (i b8 A T sons Why This Nation Stands in Front Rank. Riii i i fir SR i 1 E : I g 1 it - ! £ & § g 1 & L3 H j .%5 i PARIS BOURSE PRICES. PARIS, March 11 (#).—A heavy tone prevailed on the today. Three on Pebruary 28 March 15, dividends of 12> cents & , requiring $104,500. | DIVIDENDS DECLARED \ NEW YORK, March 11 (#).— Hidrs. of Pe- Pay- Rate. riod. able. record. eSS 2 e 020 L 02 o ) 2., g, H ] 0: 00000 PBOOEOOODOEDOOBRODOOOOOOOOOODO: DOODOOOODOD : BEERE EESES I 'E'Jfi" oxicu‘.g Tom Reed Gold M.50c Inereased. Stand Safe Dep..9250 Q ithern Un :gnf'tnfli.a‘ Bocowr= 1% @ BT Detorred. and Dividend Rate. Myer (FE) & Br (2). e Nat Biscuit pf (7 Nat Cash Reg A (3. Nat Dairy (2.60). Nat Dist Prod (2). Nat Lead (5).... Nat Lead of A (7). Nat Pow & Lt (1) Nat Radiator. . Nat Steel (2).. Nat Supply pf (7). (5)... 208 20)... 2 H & Hart u)., 21 1t ( 1 Norf & West pf (4) North Am Aviation.. Nor Am (b10% stk) North Amer pf (3) Northern Pacific (5). Norwalk Tire & Rub. Ohio Of1 (1)... Oliver Farm Eq n w3768 Owens 111 Glass (. Pacifio Gas & El (2).. Pacific Lighting (l), Penn Dixie Cmt pf. Penn RR (4). Phillips-Jones Corp. Phillips Petroleum. . Plerce Petrolm (10¢) Pillsbury Flour (2). Pitts Unit Cp pf (7). 10 Port R Am Tob A 3% PR Am Tob B. Postal Tel&Cable pf. Prairle Ol & Gas (2) Prairie Pipe L (3). Pressed Steel Car.... Proct & Gamb (2.40) Pub Sy NJpf (8)... PubSvE &G pt (6). Pullman Corp (4)... Punta Alegre Sugar. PureOil. .. Purity Bakeries (€. RRSec1CstkC (4). 40! Raybestos Man 260. 15 Real Silk Hos(b10%) 5 Rels (Robt) & Co.. 2 Remin Rand : Reynolds Metals (2). Reynolds Spring.... Reynolds Tob A (3). 20s 40 2 5 4 6 Royal Dutch m1.3404 38% Safeway Stores (5). % Seabosrd 1 Seab Air Line pf. 6% Seagrave (80c).. 44% Sears Roebuck Xl* 3% Second Nat Inv.. 40 Second Nat Inv pf. 1% Seneca Copper. 4% Servel Ine....... 10 Sharon Steel Hoop. 224 Shattuck F G (113 30% Shell Tr (m86 3-5¢). . 7% Shell Unton Ofl. ... 58 Shell Un Oll pf (5%) 4% Shubert Theaters. 14% Simmons Co. 7% Simms Petroleum. 10% Sinelair Con Ol (1) 95 Sinclair Ofl pf (8). 8% Skelly Ofl....... Bales— Add 00. High. High. Low. 62 Low. % Spencer Stand In Stand Of! Starrett Sterling Symingt, Texas P Thermol Tide Wa Tobacco Tri: Truscon Vadasco Vadasco Wabash Waldorf Wheel & Wrigley 2% Sou Cal 10:30 AM 1:30 P.M Daymen tn st SPayatie in cash stock. b 3 —no regular raf b or 42% Skelly Ofl pf (6).. 2% Snider Packing. Solv Am pr.ww South Port Rico Suj South Cal Ed (2) South Pacific (6) South Ry (8).. Spang-Chal pf (8, Sparks Withing (1). Spicer Mfg pf (3)... Stand Brands (1.20). i Stand Comel Tob. ... Stand G&E (3%). Stand G & E pf (6) Stand Oil Cal (h23%). Stand Oll of Kan (1) Stand Ol NJ (12)... Stand OIl N Y (1.60). Sterl llc of (1.20)... t W Webster (3). Studebaker (1.20). Sun Of1 pf (6)....... 20i Superheater {23)... Sweets of Amer u).. Telautograph (1. 0. Texas Corp (3).....: Tex Gulf Sulph (4) 4 Texas Pac Land Tr.. 4 Thatcher Mfg (1. The Fair pf (7)... Third Nat Inve Thompson (J R) (3). Thompson Prod 1.20. Thompson Starrett. . Tide Water As (60¢). Tide Wat Oil (80c) Timken Det Ax (80¢) Timken Roller (3)... Transamerica (1), ‘ont Corp. ... Tri-Cont Corpef (8). Trico Prod (2% ) Ulen & Co (1.60) Un Oil of Cal (2) Un Pagcifie (10) Unit Alreraft. Unit Biscult (3)..... Unit Carbon. Unit Cigar 8to; Unit Corp (76¢) . Unit Corp pt (3). Unit Electric Coal. Unit Fruit (4)... Unit G & Im (1.20).. 206 Unit G & Im pf (5).. U 8 Steel pf (7). U 8 Tobacco (4.4 Unit Stores A. Univ Leaf Tob Utll P&L A (o12.15). Vanadium Corp (3).. Dividead rates as siven in the ts based on 18 soe x b spock. X Plus 3% in Kellog (30c) vest Corp. .. 1 Exp pf (5). (LS) (12%) BecA...... 27 19 ® 4 1 onA.. » caol..... 0). . Bt BuSrrnEnnnundaanale ven d Co tAs pf (8).. Product » Stl (g1.2 20% /70\« 69% 67% 66% 224 21% 198% 190% 35% 34% 39 3TN 2N SuRra vana 101% 101% 29% 29 10% 108 43% 43% 72 70% 7% 9% 124 11% 38% 33 331 33 184 16% 32% 31% 26% 24% 146% 143% 148 1473 % 70% 6% 6% 34% 24% 29 29% 1% 24 T0% 68% 18% 174 Sales Corp.. Sales Cp pf. RK..... Sys (1%) 1worth Co (1) ‘Ward Baking p? (1), Warner Bros Pict. Warner Quinlan. West Pa El pf (6). West Pa Pow pf (7). 308 Western Dairy B k4 ern Md. .. rn Pacific pf. thlinl E&M(5).. 135 Westing E&M pf (5) 240s Westvaco Chlor (2). Wextark Radio 8 X . 2 o 2 Lake Erie.. 208 White Motors (2)... White Rock MS t4% . Wileox Oil & G Woolworth (2.40) ... Worthington Pump. (Wm) (4) Yellow Truek. Yellow Truek pf. Youngs Spring (3) 2% Zenith Radlo......,. RIGHTS—EXPIRE. Ed..Apr20 2 2% 2% Sales of Stocks on New York Exthange. 300,000 1.700,000 12:00 Noon. 2:10 P.M. table ate the annusl easn rly deciara above i l Vflll oz’u-u-l‘;:n'm; .“.'lh:" Coll 1% 1 1Plus 9% in l’::o.crg’ £hsen 1 & Piug ‘m Fald this rout CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, March 11.—The follow- ing i a summary of important cor- poration news prepared by the Stand- ard Statistics Co., Inc, New York, for the Associated Press: News Trend. Revenue freight car loadings, due largely to the Washington birthday holiday, showed s small decline of 31,- 938 cars to 682,000 for the week ended February 28 from 713.938 the week be- fore. This report is believed to be more favorable than otherwise, for, after adjustment, the carloadings index figure showed a recovery for the week to 78 from 76.7 for the preceding week, almost returning to the level of 79.6 of two weeks ago. Subdivided according to freight classifications, all commodi- ties showed decrease for the week ended 28, except ore and grain, over the previous week. again show increases in stocks it ul“;ct ‘;Inlnlflmnt in- prodt Svesage oc- ‘Oklahoma rritory. , coupled with lhe series 'r'ln cuts yesterday which ex- ation-wide, cast a definitely unfavorable light on the day's oil news. te news today is character- ized again by a series of dividend cuts or omissions, particularly by Glen Alden floll. Thompson (John R.) Co. Alr- le Electric Appliance. Earnings of Radio Corporation for 1930 fell to I cents a common share from $1.59, saved fmm being more unfavorable by s December quarter recovery. ‘The Companies. Adams-Millis February sales off 1.5 p'rmt.wommwl’lwremc Afi'-'z liance omits com- vAIA cents January 1, Machine & w dx months ended Deeembcr 31, $326,- Mn Sf sales, four weeks ended off 15 per cent; T S deficlt, | Jacksonville, Fia.; Pred Geiss ary 26, $8.91, common share against $6 December 31, 1930. Bethlehem B's!l Teceived 4,500 rail order from Delaware, Lackawanna & Western Railroad. Bickford's lnc acquires Foster lunch System, Ltd. of San Francisco; opera- tor of chain of 22 units. Brunswick-Balke-Collender 1930 def- icit $1,109,589 against deficit $3,047,- 963 in 1929. Byers (A, M.) December quarter pre- ferred share earnings 95 cents against $5.55 like 1920 Canadian Pacific Railway, stockhold- ers to vote on authorizing issue of $50,- 000,000 ordinary stock at discretion of directors. Certainteed Products Corporation.— Rumor that changes in meanagement | ¢ will be effected at annual checier Cab Mfg. omits month divi- dend; paid 15 cents March 2. Consolidated Pilm Industries comm’on dividend; paid 50 cents Jan- uary 2. Elk Horn Coal 1930 deficit $67,635, against net income $47,730 equal to 36 cents preferred share in 1929 Equitable Office Bullding Ccrporation common | earnings, 10 months ended February 28, $2.24, against $2.25. Fairbanks-Morse 1930 wmmon share earnings 93 cents, against $5.05. Fiat 1930 net income $2,156,000, against $3,261,200. General Cable cuts bare copper wire }mcemwmxouw 12 cents a pound rom lfi:/; cents. January 1, about 3 per cent above year previous. mon'dividens: fomeny S ge former] Hudson Motor Ca: D to buy interest in Durant Motors of Ocm- to enable pmducuon in that country. DONNY MADE GENERAL PASSENGER AGENT HERE ‘W. H. Donny, general agent of the Seaboard Air Line Rallway in Washing- :;nlui";r"l,”n promoted to lh'!‘ position headquarters. i i Other Seaboard promotions follow: W. L. McMorris, assistant passenger mm‘u mmnlr Norfolk, Vl.'(l" H. general passenger agent, Nor- folk, Va.; 8. B. Murdock, general pas- t, New York m: 8. G. general genel B Bevton, samictans gencrer passeces Ppassenger agent, lebur;h. Pa. —_— A “OCome to the ‘:fim !ormurlnahubee RAIL ELECTRIFICATION PROPOSAL CRITICIZED By the Associated Press. ‘The wisdom of the Pennsylvania Rail- road’s plan to electrify its line between New York and Washington was chal- lenged here today by the National Cosl Association, which asks, in e vnkly bulletin to members, if the carrier “is going to kill the goose that is laying its golden eggs.” The scheme, as announced by the road, involves the expenditure vl at least $125,000,000 for electrificition of " more ecoriomica ‘opermii i g xS e are av: as to where or how the electric .'ervll be generated, whether by codl burned in & central power plant near the by Water power, the associa is certain to displace a la; bituminous coal as indust: Toad fuel in the section travérsed by e onl rganiza coal of tion sa) lan threatens the Pflml’!lvmhyl' dtzxgmt position in the coal freight traffic. a fleld which the carrier has found, most fertile, accounting, in llfl for about 29 cent of its total freight reveriue. ore than uumooo ‘Was received in 1929 as nngnc for handling soft coal, says it ‘volume of end..r year are noi yet available. ting out the vm qu.umy ol \m in the, thl folml‘n‘ g " “Can the Pennlylnnh Railfoad: af- ford to e; rgh\um of uey for el eltlon. bound, to lead to the displacement of millions of tons of coal? road must of neces- sity pay & very low price for tae electric current used by it lnd 1t must be as- sumed that if the Pennsylvania finds it 1 to use elongul power, in. dusmu in the same section will like- wise turn to tht louree of stead of their own the use eoll Wl 'onde‘r 1 sylvania is going goose that is hvlnz its golden SEES AUTO TRADE GAIN, NEW YORK, March 11 (#) - Willlam J McAn . o.-'rn’comt of he ltn- of mm in tne Ay ‘This improvement,” inciudes sl of New Engiand with the ’BUNI LIST STEADY it Is said, while anthracite .m* o Refractories unfilled orders :.Wow vors - & 3 Operating revenues for the Iast cal- | ivitos Seaies Market’s Pace Is Retarded Somewhat by New Offerings. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, March 11.—Bonds were firm today, with the volume of trading slightly below that of Tuesday. Early weakness in stocks checked the upward tendency of bonds. Also there was the offering today of about $33,000,000.0f new bonds on top of the heavy new capital offerings of Tuesday. ‘The market had for & bullish argu- ment the rapidity with which the Penn- sylvania, New York Central and Port of New York Authority issues of Tues- day were absorbed. But, on the other hand, the diversion of this amount of money from the normal investing rou- tine mwnlly hld a quieting effect on outstanding issu Time money nu- ‘were quoted frac-|A! tionally higher at 2 to 2% per cent for 90-day loans, but very little business|Atchl figure was done at this in expectation of renewed lower rates when the tem- ing accommodation of new hond financ- ing is relieved. Lib 18t 4 %, Libdth ¢ Taie : yeiN=w., 29 vl H( AbItibl P & P 5 II Ab& StE%s Adams Exp 4 4. Allegheny 68 '44 Allegheny bs ‘4. .. Allis-Chalm $s°37 A- AgChT%s » —e MBI nasN ANRNOR TN AN~ " mlutunonulnhmdy: wrenn.ho! foreign ‘higl drawn with the swing to other !mlcn credits. The most notable source this support, Paris, is now credited wm: broad: purchasing operations in the Eu- ropean and South American lists. Au- stralian bonds were heavy on ‘the con- tinued postponement of any construc- tive effcrt on the of the Canberra government to put into eflm the H":; orous restrictive - motnm Ivised by ds led the foreign lllt ln int ol lflhfl You.nl ore! Plan 5% vmc’l: & new {c- the South American ist. the obligations of where the Kemm ’“comm-h:m" : é a tHY nE 3 i § g Ia i L § Washington Stock Exchange SALES. Elec. cons. 56—$1,000 3 ll 000 at 103%. ol i Wuh Oll I‘I—‘IM at 104, 91,000 at %{am Tract. Co—10 at 36 c. 8a% pfd—10 at 2ok, er Linotype—10 at AFTER CALL. Wash. R. & E. 46—8$500 at 873, $500 nt 87%. Sand & Gravel pfd.—10 at 97, 10 bt Bid and Asked Prices. - BONDS. PUBLIC UTILITY. Amer, Tel Am & Tel Ve Ana. & fuf'-r“.finm R, 8% Biban s | Com Inves 534449, Wash. Cons. Title 6. ToL. & Tel. c-xm i Traction Wi Gas. Lieht 8o. ut, Norulk & W Sieam mines or | Fed.-Amd I and rail- | Ri 85 Sav. & Gom. K. {it5. treet, 12 lumbis Title & guSesse: ¥i. ik 3 3 b Sfll;*! .‘I.lwll BY. Bordeaux 6s '34. Bos & Me Bkiyn Un1st BR&Pittdys Can Nat ou-'n... Can Nat4%s Can Nat 4% s 5 Can Nat bs July Can Nat §s Oct "69. Can Nor 4345 °35... Can Nor 6% s db " ‘0lo & Sou ¢ 6 gol“;lll“l! 53 T4 8 ConGNYb%s 53 Consum Pow $2'52 CulerJl)‘%l Copenhag Cuba 5%% u Cubn R R §s 52, zubflNurl“l o 2. ‘Am Sug col §5°31 19 1-Am 58 £ 6, "7 B T = San ——n-u-n-u—s-\uan 5% | Italy 78 °l 8 98 101% 101% 9% 95% 103% 1081 | MeK: 100% 110% 98 98 107% 107% 111% 111% 87% 88 106% 106% 105 105 101% 101% % 7. N 97% 8 46% 46% 8% 9% . 68% 27% 80%, " N% 1 32 Int Cement §s " 48, Int& GNadéa'si. Int Hydro EI 6 H San3da :Ifiul-— int 'l'.'l'ev t'lnl ki INt T&T a5 irish Free e T 48. BSLRN Japanese 5% ‘65. . Japanese 6348 "54 . . Jugos] Bank 7. KCPAL4Y% 102% '102% 103 108 108 102% IM% mm lDl’i lfll% ”% .5 106 106 104% 104% 105% 105% 104% 104% BaS MmANS o l” 6% % 4% 4% 954 ~ .2..4..-..-...-.- = rommaland T9% 'B9.. Montevideo Ts '52.. NatDairy §%s°45. 23 101% 101% 101% < 3 17T% 17% 17% 103% 108% 103%. 110% 110% 110% ‘-4% 63 Cl“ IUA “\6 “M Ifl 2. New S Wales 6857 New 8 Wales 65 °58. |o'l ln’l Kansas Legislature Votes Restriction in-Merchandis- ing by Corporations. BY GEORGE E. DOYING. Advocates of legislation to preveni public utilities from engaging in the merchandising business were elated over news from Kansas that the Legis- lature has passed and sent to the Gove ernor for approval s bill ey i 't renre ‘While this is not as is no prohibition sales of fil:nee- through a subsidiary 1 108% 106% 106% | ice. 3% 83% 9% 9% 91% 91 91 27 106 105%: 105% 101% 101% 101% 104% 104% 104% 83% 9% g 21 NY NH&H ¢34 4% NY NH&H cvab s e NY NH&H.elt 6s... 10 105% 1 NY O&W ist 48793 $ 87% 86% 8TH 3104 D4 104 14 103% 103% 103% ’ I“ 10"’( ms l m NK N% 3 100% 104% 104% 3 113% 113 113 37 103% 103 103 1 108% 1063 106% 4 101 100% 101 . 5 102% 102% 102% . 39 108% 105% 106% . 10 102 101% 101% S 18 95 93u 98% . 82 100% 9 106% 104 104 1 104% '104% 104% 8 -93% 98 93! + 13 104% 104% 104% 1 106% 106% 106% 2 108 108 108 6 69% 69% 69% 11 xm 101% 101% Penn §%35 36, Penn O&D 4%s *77 Peoples’ Gas 65 99% | Peor & E 1st %! 10 110 M ITh 101% 101% 101% 101% Phillip Pet 5% 8 '33. 2 P CC&StL 1. 7... 28 92% 92% . 2 88% B85% B85% « 19 96% 96% 96% € 102% 102% 102% Pure Oll 5%s Queenland Queenland Ts. StL ll( R&G 48733, 22 xm 100% 100% StL&SFindsA. StL&SF4%s'18, 90% 90% 90% 107% 107% 107% 1% 111% 111% 9 L 92% 32 8o 12 92% Shinyetsu §34s ‘52, Sinc Cr.O 5%s 38 LEREE & bt bt e an 13 = &3ss »ua:':-.anfltt-::- 3550 §eReEns i 333§ 1‘::57 &u 60, 8 5 Sales Migh 85 i3 9 93 894 88% 9% 99 99 96% 95% 954 2 82 82 * restricti The ities, 60 rporal ts _expenses, nuk!n( against corpora. Oklahoma Sena! 2 S sk nn‘:t uu % th e connected 7 Inu tes designed Mmm it to ‘whethe s 10% 10% he general business by 5 i R to a corporation’ Iviti 100%100%100% appliance sales 90% 90% public utility, 934 9% 93U 69% 96% 95% 95% 4% 94 ity or lm\u':wm Mfih' the conducting on the abstract question "handising. Hmm ithorized service necessaril; In consumption 1 to ' 9% - 4% - chandise 108! - service furhished by 106%, l} 99% 100% | 60865 FREIGHT LOADINGS DROP. By the Associated Press. 2 72 11 71 3 101% 101% 101% 15 85 84% 85 265 101 74 82 10 102% 102% 102% 4 26 25 25 7 85 84 -3 101% 101 18 74% ™ 8 82% 82 5 84 834 5 104%' 1043 104% 27101% 101% 101% 1 90% 90 - 90% 9 % 55 8% % 58 9 98% Walworth6sA45. 3 75 Wmld-bl 4., ll 1 !“ West Ma ¢s 27 m Wilks B & B 1at5 Yokohama 6561, Tgstn ShaT 6878, 41-101% 1015 101%