Evening Star Newspaper, March 12, 1931, Page 14

A—14 #**% FINANCIAL. CONFERENGE HOLDS BUSINESS INTEREST Progressives’ Meeting Here| , Attracts Notice Through- out Financial World. BY JOHN F. SINCLAIR. Bpecial Dispatch to The Star. NEW YORK, March 12.—American business men are closely watching the conference of the Progressive Democrats and Republicans now in session in ‘Washington under the’ chairmanship of Senator George W. Norris of Nebraska. A new Senator—Edward P, Costigan of Colorado—one-time member of the United States Tariff Commission, made a strong speech against high tariffs, which, in his opinion, have been pow- erful factors in keeping down the for- eign trade of the United States. Sena- tor Costigan, a Democrat, is considered a strong lddlflvn to the Progressive ‘mi‘::" hllte"“( the f Senator o npen query of w-m‘r': of Indiana, to Senator Norris, asking for a re&y on 14 points, the conference, which closes tonight, w!.ll probably stick pretty close to the M subjects mentioned in the lette: vitation the conferees sent out. 1. Unemployment and industrializa- tion. 2. Public utilities. 3. Agriculture.. 4. Tariff. 5 Return te representative government. If these growing Progressives forces arz able to unite on a program dealing with these five problems, there may arise in the next Congress a new force much more powerful and potent than any bipartisan combination heretofore worked out. American Tobacco Company. George W. HIll, president of the American Tobacco Co., is all smiles to- day as his tho\lllnd! of stockholders are reading his anni which shows the net nrmnn of gigantic company for 1930 amounted to mus - 370—the l-l!’l“l in its increase of 43 per cent over the neb . In taxes 1 Government alone are more than $150,000,000. For those who are statistically mind- ed it means that this company,-which manufactured 38.10 per cent of all cigarettes made in the United States last year, earned $8.56 per share in 1930, as against $5.76 in 1929. It's increase in cigarette smok- ing, particularly among women, that's responsible for this sensational 1930 statement of earn! “The history of the tobacco business during the constantly Mr. Hill has been president of this company since 1926. BIIHID" Industry Awakens. yun h%umm num- in- merch.lndmnx methods, bulldlna industry has lnddenly lwlnned Stun- ned by the announcement of one hm mail order house of a unique sch for finan l'ml.l lumbermen have recently lsunched s counter plan fo combat mall order com- petition. ‘The United States is a Nation of readers! The combined circulation of all morn- ing and evening daily papers is a little mbrtthlnlomm 'h.\lzfl'leBuMly I5¢%0 the latess lcof she “Tnder, e n&%meawmm-ymkmzt‘:& e circulation magazines a is much larger, with an es- person in the try. Newspapers and magazines in 1929 paid nearly tzso- 000,000 in salaries and m the éza'm persons. mlw-d this in- Who pays most into the ne'? the advertiser or the subscril Thll G _STAR, WASHINGTON, D. C, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. (Continued From Page Supply pf Surety (5) T nvest (1.20)... H & Hart (6).. H&Hpf (7).. Norf & West pf (4)..1208 North Am Aviation. . Nor Am (b10% stk). 28 North Amerpf (3).. 3 Northern Pacific (5). 10 Norwalk Tire & Rub. ©Ohilo O11 (1) Otis Elevator (2%).. Owens 111 Glass (3). Pacific Gas & El (2). Pacific Lighting (3) Pack Mot Car (60¢) Panhandle P& R. Paramount Pub ( Park & Tilford o Peerless Motor Ca: Penick & Ford (1) Penney (J C) (2.4 Penn Dixie Cement. Penn Dixie Cmt pf Penn RR (4). Peop Drug Strs (1 Peop Gas Ch (8).... Pere Marquette (6).. Pet Milk (1%)...... Petrolm Cp of Am(1) Phelps Dodge (2)... Phila Co 6% pf (3).. Phil Read C& I.....: Philip Mor & Co (1).. Phillips Petroleum. . 4 Phoenix Hos pf (7).. Pierce-Arrow A (2).. Plerce-Arrow pf (6). o @ Fey = Sa TR PR PRIT TS -1 TOTCTE TSI -£ T STTUTTY. - CT USSP - PP IR PN Y Pierce Petroim (106) Pillsbury Flour (2)., Pitts Unit Cp pf (7). Pitts & W Va (6). - s Postal Tel&Clhll D!. Prairie Oj] & Gas (2) Prairie Pipe L (3)... Pressed Steel Car. Proct & Gamb (2.40) Pub Sv N J (3.40)... = Pub Sv N J pf (7) Pullman Corp (4) Punta Alegre Sugar. Pure Ofl. . o Pure Ofl pf (8). Purity Bakeries (¢). Radio Corp........ Radio Corp B (5).... Radio-Kelth-Orph A. Raybestos Man 2.60. Real Silk Hos(b10%) Rels (Robt) & Co. .. Remington-Rand. Reo Motor Car (40c). 16 Republic Steel...... 12 Republic Steel pf.... 1 Revere Copper & Br. 4 Reynolds Metals (2). 16 Reynolds Spring..... 4 Reynolds Tob A (3). 20s Reynolds Tob B (3). 60 Richfield O3l. . Rio Grande Oil, Rit Dent Mfg (2% ) Rossia Insur (220).. Royal Dutch m1.3404 .5 Safeway pf (6). St Joseph Ld (2). St Louis & San Fran. St L-San Fran pf (6) St L Southwestern. , Savage Arms (2). Schulte Retall Strx. 40 Second Nat Inv pf. Seneca Copper. 3 Shattuck F G (Vl“) 6 Shell Tr (m96 3-5c). lso- Shell Union Of1. Shell Un Ol pf (5%) Shubert Theaters. .. Sinclair Con Ol (1) Skelly Ofl. . Skelly Ol pf (6) SniGer Packing. Solv Am pr ww 5%... South Port Rico Sug. 16 96% Sou P Ric Sug pf (8) 10s 45% South Cal Ed (2).... 4 4 South DairiesB..... 1 92% South Pacific (6).... 10 5 103% ~Prev. 1930~ High. Low. 65% 13.) Stand O1 Stand O1 Starrett Sterling Stewart Transue Und-El Wabash Waldorf 66% Wrigley 22% 2% 2% Sou Cal 10:30 A.M. 3 1:30 P.M. . 1]3(;'/: Dividend rates 99% 51 5 5 4% 101% 101% 103% Uit rate. ‘B Thompson (. Thompson Prod 1.2 Thompson Starre ‘Transamerica (1 Tri-Cont Corp. Trico Prod (2% Twin City R Tr (§4). Ulen & Co (1.60)...4 Un Carbide (2.60). Un Ofl of Cal (2). Un Pacific (10) Unit Alrcraft Unit Aircraft Unit Biscuit (2). 4 Unit Biscult pf (7 Unit Carbon’, Unit Corp (75 Yellow Truck. . Youngs Spring (3). Zenith Radio........ RIGHTS—EXPIRE. payments based on the hmt guarter] y Gr haif, Unit of t; T Blts 5% ll: Stock ana Dividend Rate. South Ry (8).... Sparks Withing ( Stand Brands (1.20 StandG&E (3%). Stand G & E pf (4) Stand G & El pf (1) 1Cal (h23%). Stand Oil of Kan (1) INJ (12). Stand Ol N Y (1.60). (LS) (12%) Sec A Wars Stone & Webster (3 Studebaker (1.20) Sun Ofl (T1).... Superheater (2% Superior Steel. .. utograph (1.40). esseo cm-n(soc) ESnannSeenn &W (1) bt-Fish (8). ABoA paEm THURSDAY, ISSUES IN DECLINE % |General List Lower Under Influence of Selling in Carrier Group. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, March 12.—Aftected by heavy liquidation of railroad common stocks, the junior bonds of the carriers declined sharply today. This was the weakest [eature of a market that showed a lower tendency all around Bond dealers now are loaded up with undistributed new issues owing to the foating of a total close to $300,000,000 this week. It is true that the market had renewed confidence when the high le portions of these emissions were rapidly absorbed, but the afterflood of other issues of not such high invegt- ment merit soon changed the situation. Many of these later offerings, while pegged at the offering price on the offi- clal market, may be secured at dis- counts today. In xomzn dollar bonds, advances which have totaled -nywhzre from 5 to MARCH 12, Lib1st é%s.. 1934, JUNIOR RAIL BOND | Coro sox BONDS o ezcaavca] eceived by Private Wire Direct to The Star Ofice UNITED STATES. \ (Sales are in $1.000.) h Low. Close. 5 102 26 102 26 10226 LAb 4th CKI + 146 103 26 103 24 103 26 7 10131 101 8 10132 105 28 106 107 21 108 12 112 111128 112 1 19 106 21 108 Sales. High. Low. Close. 3. T6% Am Beet Sug 65 '35. Am Chain 6s '33 Am Int Cp 5% Am Metal 5% Am N Gas 6% Am B&R 1st § Am Sug Ref Ann Arbor Argentine May 25 points in the past two weeks have | Al brought some profit-taking. Money rates were not quotably higher today, though the market was not as over- supplied as in recent weeks. Volume was about on’a par with that of Wed- nesday. The down trend, to a considerably lesser extent, affected even the best of % | outstanding bonds. American Telephone 5s and 55s, for instance, were frac- tionally lower. These issues had reached new highs in successive sessions of the bond market’s upturn. Atchison Gen- eral 4s, Boston & Maine 5s, New York, Westchester & Boston 4';s, Northern Pacific 4s and other railroad pri lien issues commonly classed as “leg off by small fractions. Nickel Pllu 4155 dropped over 8. point. Some of the rail bonds of secondary 0% | type, that were actively sold were Prisco Rubber 1st pf... Smelt & Ref (1). 10t Unit Stores A.. Unit Stores pf (4). Univ Leaf Tob (3). Univ Pic 1st pf (8) Univ Pipe & Rad. Uti] P&L A (et2.15). 13 Va Iron Coal RR..... Sys (1%). Walworth Co (1) Ward Baking A.. Ward Baking B.. Ward Baking pf (7). Wi rr.anylP“). Wess Oil & Snow (2) Wilson & Co p: Woolworth (2.40). 59% Worthington Pump (Wm) 4) 18% 26% % Ed..Apr20 10 2% 2% Sales of Stocks on New York Exchange. 400.000 12:00 Noon. 1 500,000 2: ln P.M. ven in the above table he a Jearly deciara Biriiy extre. Bl wPald lust vear NN n"m':gi 3 'year—no es: g less ¢ t-n us 3 in Stock. "ia Paia® l 2= RAILROAD COPPER paid advertisers plld e BUYING EXPECTED % | Electrification Plans Will Re- invaded by the Great Britain has a National Wage Board which decides on wages paid in the various lines of industry. Sir Josiah sump. pmidem of the London & Mid. liroad, said, in his lnnulllflml:; n'e Lm week, that wages coul continue to be maintained at their pres- ent level in that country. Last Friday the National Wage Board, after a careful survey, ordered a re- duction of 1% per cent on all railway wages, and a further reduction of 3% per cent on all wages in excess of $8 weekly—a substantial wage in Great Britain. ‘The rail men demanded a minimum wage of $15 a week for all adult work- ers. But the board refused this and declared that long as four separate groups of rallways wnunued to exist in Great Britain no wage increases could be_expected. mx railroad eonlolldltlm:s in Great Britain, therefore, are look: this year. s (Copyright, 1931 by North American PRINCE, WHITELY PLAN Eugene L. Garey, counsel for the firm n:e & Whitely, stated that the ition made creditors quire Huge Supply of Red Metal. BY BRADLEY W. TRENT. Bpecial Dispatch to The Star. NEW YORK, March 12.—The sale of $50,000,000 of Pennsylvania Railroad Co. bonds for the purpose of electrici- cation has caused discussion of that subject among bankers and industrial- ists. The copper industry estimates that the present plans of Pennsylvanie, Rail- road will require about 60,000,000 pounds of the red metal. The electrical equipment industry, especially Westing- house Electric and General Electric, will benefit from these plans, as will the various power and light companies along the line of the carrier and the structural steel companies. Dissenting Note. One dissenting note to Pennsylvania's plans, however, comes from the Na- tional Coal Association, which polnu out that the railroad’s coal traffic in 1920 furnished about 29 per cent of total freight revenues, or around $143,- | FAVORABLY .RECEIVED | 000,000 Less than 1 per cent of the class mileage of the steam railroads of the United States 1s at present electrified, but within the next Adently fying of rapid pace unn the first mmmumm pmject was started 35 years ago. icted yesterday, the electri- The largest single Llne of electrified route is that of the Chicago, Milwaukee, St. Paul & Pul.nc Rulny but the Pennsylvania is mrp.uln. !on;uln:uk of llmm 300 rout Pennsylvania road, not cluding the between Baltimore and Wi under way, has 325 miles of route | omi lecade, it was con- | EIrSt, es will pmceed lt a far more Ful the ol State electrification of its llnt Trusteed A road to announce that it would speed | up by 50 per cent the plans previously announced. Themm:ca.humpmgm.u miles of route and 120 miles of track | electrification, but it is planning to do considerably more than the actual an- nouncements indicate. Sellers of rail- way supplies say Reading will electrify into the Greater New York territory and that this will be followed by electrifica- tion of line by Baltimore & Ohio from Washington to New York to compete with the Penmylvun The Baltimore & Ohio, has never given the slightest’ inflmll(nn of such plans. The New York Central has mdlflwd "‘ In tention to electrify from Y., to Albany, but l check cf m llnl today showed that tentative, mnutinn of the steam rall of the United States thus far hM ove'r 110,000,000 pounds of cop) &0 lucers of that metal Imut thlt 100 000 pounds additional will within the next decade. Thz re- is pro- rallways 5,000,000 goundl of copper, while Dela- ware, Lackawanna & Western's electri- fication last year took 4,665,000 pounds. Railroad executives declare &hat funds could be obtained reasonably, all would be pushed as a means of reducing | 3 operating costs. (Copyright, 1931.) gh INVESTMENT TRUSTS the-counter market: Asked. AlL Azh Tnvestors Shrs A 10 | Diveraified Trustee &hi Diversified Trustes Shrs Diveisified Trusiee Shrs C Equity Trust Shrs . SavelbabSe S8 545 cent Tilinois Central project uscd up | Beii Ter of REFRIGERATOR SALESMEN HOLD MEETING HERE Distributors and salesmen of General | ¥ Electric refrigerators are holding a regional conference at the Wardman luryhna‘ Vl?lnl the District O:- the territory repre- has that 1,000,000 are likely to be installed !n Anurlcln hmnes during 1931. The General Elec. tric Co. is anlderln. an SM‘J“ M-' vertising campalgn in order to get i full share of the expected busin u‘l ': ‘The refrigeration lnd\ln.ry 85 & whole | & A 4s and Prisco 4l%s, Missouri-Pacific general 4s, Missouri-Pacific 5l;s, Erle 58 of 1975, Rock Island 4'%s, St. Paul adjustments, Chicago & Northwestern 4%s and Alleghany 5s of 1944, 1949 and 1950 maturities. Elsewhere in the domestic depart- ment losses ranged from small frac- tions to a point or more. American International 5l;s dropped 1!2 points in response to weakness in the stock. Dividend prospem ere blamed. Colon Ofl 5s. were off 112 ln liquidation that affected other ofl bonds such as Phil- lips Petroleum 5%s, Shell Union 5s and Sinclair 625 and 7s. Warner Brothers Plcmus 6s, were still very active and a little higher with the stock. International Match 5s were firm, but the convertible 5s, admitted to trading today, moved fractionally lower in heavy trading. In the foreign department the heav- fest selling was in Lautaro Nitrate 6s, Antioquia 7s, Uruguay 8s and Chile 7s. Brazil 8s dropped a point but other Brazilian issues held well. All Of the Argentine grcup continued to advance. Bolivian bonds gained a point and more on the thzory that the better tone in the tin market may presage the end of Boliva's worst economic ills. German issues were fractionally lower. Most Europeans had small declines, A, Atchison adj Atchison gen 4s ‘95 Atchiscv 4% 41 Atch Ariz 4%s"62. At C L col 4s'52. AtCL4%s'64. At Gulf 58 '59. Australia 4%s ‘56.. Australia bs ‘55 Austrajia 5s ‘57 Austrif 73°43...... Bos & Me 53 *67. . Brazil 6%s Braszil 6148 '27. Bklyn Elev 6%s. Bklyn Man Bklyn Un 6s°45 Bklyn Un 1st 65°50. Ba & 7th Av5s’43.. Bush T Bldg 55 '60. ccu-an 5s°31 Washington Stock Exchange|& SALES. Capital Traction 55—$1,000 at ll‘/ w-uhmiwn Gas 5!—‘1 009 ll lM City & uburbnn 55—$2, B W 10k, ‘Washington bty n 3100 at 1033/4. $500 at 105, $1,000 at W h!ngwn Rwy. & Electric 45—$1,000 at 87%. Electric 6% pfd—2 at\111%. Commercial National Bank—lo at .’!l! -American National Bank ‘Trust—10 at 50, 10 at 50, 30 at lfl. 10 at 49, 10 at 50. Columbia Sand & Gravel ptd. —10 at 97, 10 at 964, 10 at 96)%, 10 at 964, 10 at 961, 10 at 9615, Mergenthaler Linotype—10 at 86, 10 at 86, 5 at 86. AFTER CALL. Mergenthaler Linotype—3 at 86, 10 at 86, 10 at 86. Columbia Country Club 5%45—$500 at 100%. Polomc Electric 5%% pd—10 at Commetcial National Bank—10 at 219, 30,88 219. ; Bid and Asked Prices. . 1Chi Un Sta 6%s '63. & P Te Ei7"% Buburoan b clozrumwn Gas 15t 'ds. 22382 2¥53ss.3 S mer. convention members were welcomed to | Was) Washington by C. L. McCrea of the National Electric Supply Co. SHORT-TERM SECURITIES, (Reported by J. & W. Seligman ’ Co.) Aflis-Chaim, gv. Bt Chnadian. Nor. ot worv.n-mem fin wherever traffic density justified it and | G® other factors being equal, electrification ooofl NEW YORK, March 12 (#).—Over- | Sincla Wheeling Steel Gorp: G::- 1953. FOREIGN ucmox- (Quotations furaighed by W B. aivbe & Co) London, pound. 8 5. Paris, (’-DEC- apest pengo. . Prague, crown (n Warsaw, ~ zloty. nhagen. 223 'rmsun! CERTIFICATES. rted by J & W. Sellgman & Co.) to—Maturity crown . holm, e F EFNE SN & WNREF R er. | Columbis 35 C Am Sug col AR, 14 | Del & Hud rt u n. ( Commercial (stamped) {10} District (&) u,.. $58288e%5E 33 wes, &5 Second (9e) Washington (i3). TRUST COMPANY. Amer. & Tr. Co. (18), Aontinentar Frast Natl. Savines & rasi um ice Georges Bank & Tr Dhion Tt | Vash. Losn & R, (1) BAVINGS BANKS. (84, Bank of Bethe v‘lné‘ 6y gBu3zg 85; §==. 2888aniy Pis National Unlon’ (i8) TITLE INSURANCE. Columbla (6h) .. Real Estate (6h) SILVER QUOTATIONS. NEW YORK. March 13 (7)—Bar - i | Colo & Sou 4% s '80. Cert-td deb 6% s Ches Corp 6s "47. Chi & O gn 4%s CB&Qgen 4 CB&Q 111dv 48’49, Chi & Eas 111 68 '51. 39 Chi Grt West 48’59 40 ChiM &StP4s'89. 6 Chi M StP&P 53'76 45 Chi M & St P ad) 68 108 Chi&NW g 3%s'87. 13 Chi & NW gn 5 Ch&Nwn 4% s 2037 Chi N Wst 43% ¢ 37 Chi & NW con 4%, Cht & NW 6%s'36. . ChiR1& Prfds 3¢ ChiR Icv 4%s 60, ChiRI&P4%sA.. C TH&SE In 55°60.. Chi T H Inc 68 '60.. Chi Un Sta 58 B SanamaromSman = Colon O1l 65 ‘38, » Se Col G&E bs May '63 Com Inves 53849, Con Ry 4%sst'51.. CCMdistrf 0. ConGN Y 6% Con Pwr Jap 635, Con Pow Japan Consum Pow e IR TS - SwonanS vanmBnOANEASawan Re Duquesne 43;s '67., Dutch East 1 Mar. . Dutch East I Nov. . El Salvador 8s '48 SCmea wmm o Fla E Coast b» Fond J&G 4% Fram I D T%s'42.. French Gvt 7%8 *41 Gelsenk'chen ‘Gen Cable %8s "47.. Gen Motors 6s ‘37 Gen P 8v 5%;“1 wReam~ano Halt) 88 '52. Hav EI Ry b%: Hoe & Co6%s 3 Hud & M rf 58 '57. Humble Olllll ’l'li . Hum O&R 62, "Hungary T¥%s "44. . ml!ln,‘l-‘ 4868, .00 102% 133% 107% 106% 62 102% 6415 2% 1% 106% 97% 101% 95% 107 103% 103% 110% 113% 110% 102% 105 101% 101% 68% 68 72 98% 106% 881 101 110 88 4% 102% 100 106% 100 100 106% 102% 111% 88 106 100% 99% 107% 105% 96 100% T4 44% 66% 80% 99% 110% 9% 101% 103% 25 108% 117% 124% 9% 85 4 108% 90% 107% 12 98% 1 00% 3 111% 88% 96 27% 53% 100% 102 6% 76% 931 93% 87% 87% 811 814 9% 9% 102% 132% 107% 106% 62 102% 64 1% T1% 106% 97% 101 4% 107 103% 103% 110% 113% 110% 102% 104% 101% 101% 67% 98% 106% 83% 100% 110 88 4% 102 100 10634 99% 100 106% 102% 111% 87% 106% 100% 9945 107% 105% 96 100% 74 44 6644 80% 9% 110 9744 100% 104% 102 101% 108% 88 101% 108% 25 , 25 108% 108% 17 17 124% 124% M% N“ lm lofl% 3% V6% % | Skelly O11 5% vay Am bs 90 90 107% 107% 111% 111% 981 98% 9% 99% 100% 111% 111% 88% 88% 95% 95% 27% 27% 53 53% 100% 100% 101% 101% 02% 102% 102% 1 101 106% 9% 101 101 108 106k 8% 89% Bales. Il Cent 4% 5'66.... 28 Il CCSIL&N s A.. 15 Inland St 4%s'78.. & Inland Stl 4s% B'S1 2 Int& G N ad 6s°'62. Int Hydro EI 6 IntT&T4%s"62.. 35 19t T&T cv 434839 39 Int T & T b8 5! Irish Fi Italy 7s ‘51 Italy Pub 8v 7 Japanese 5% Japanese 6% Jugosl Bank 78 ‘57 Laclede 5%sC Laclede 6%s D Lautaro Nit . Leh Val cv 48 2003, LehV cv 438 2003 Lig & Myers Lig& s 28 24 MecCormack McKes & R %8 'lo Man S 1st 7345 42. . Manh Ry 1st 4890 26 Market St 7s '¢40... 8 Mex 4sasstd 1904.. 1 Mex 4sasstd 1910. . Midvale Stl 6s Milan 6%s‘63. 0 MIERy&LGb6s’61. 5 M StP&SSM con ¢s. 5 MBP&SSM 6%s 78, 10 oA G e N0 Netherlands 6s ‘72 N Eng T 1st 65 °52. N h'l‘lllil!'ll'. . 2] Cent db 4s' ‘34.. 41 Cont m-um. ‘e im 68 201 Nor Am Ed '0*1. 8 1 - - NWONBNEHNN MR AT O N DB R NANNAD Norway és 5!. Orlent dev 5% s 58, Orient dev 9 110 7000ae 21 Phila & Read 6349 32 Phillip Pet 5% 30 P CC&StL 4%s8'77. 26 PCC&StLEsB P&WV4ysB'S9. P&WV4%sC'60. Poland 7s°47 . Pos Tel & C68°53.. 1. Prague 7%s '52 PubSv G ¢%s 6’ Pub 8vG 4%s°70.. Pure Ol 5%s Queenland 7s *41 Read gn 4%8 A 97, Reading 4%s B Read Jer Cen 45 51 Rem Arm: Ac3T. Rem RE%s A 47 Rhinelbe 78 '46 Rhine West 6s °52.. Rhine West 64°53. . Rhine West 7s '50. . ll) Rich Ofl cal 88 °44. . Riode Jan 6%s ! 9 5 Baewea PTT T T G gers 15 3. R Gr De Sul 6s°68.. R Gr De Sul Rio Gr W 1st 45739, RI Ar.b“‘l'fll. Roy D ¢s l ". StL IM R&G 48"} FINANCIAL, High. Low. 95% 95% 2:30 95% 100% 100% 100% 96% 96 96% 964 % 101% 101% 97% 97 101% 101% 106% 105% 110 108 40 56% 55% 0 102% 102 80% 76% 8 178 101 100% 110% 110% 95% 95% 954% o 100% 100% 100% 89% 89% 9% 9% 9644 1% 2% 561 92% 981y 564 901 92% 86 3% 6215 T2% 82% 3% 88 108 98% 89% 1% 100% 100% 100% 841 82 4% T2% um: 97% IMK‘ 100% 100% 0 96 ° 95% 95% Sine Cr O 6% "38 1 8 2 2 1 85% 86% 9% 79 2% 92 38 37% 15% 15% 83y | and T2% 100% 97% 9% 9% 9% 107% 107% 107% 834 834 83y 93 23 % 1% 92% 92% 95% 95 5 97% 96% 9T% ‘) 102% 102% 102% % 1% 109% 109% 109% 112% “3“ 112% 115% 100 1 23 % 923 95% 1% 97 0% IOBVA 105% 104% 105% 107% 107% {INCOME TAX SHOWS BUSINESS LOSSES Sharp Reduction in Returns Predicted by Wall Street. Specjal Dispatch tg The Star. NEW YORK, %‘auch 12.—Federal in- come taxpayers have been filing thelr statements earlier this month than usual. A large number have already been recelved at the, office of the col- lector for the second district in New York, which covers the downtown busi- ness area, mdn? Wall Street. These are the returns which will be of greater ficance than ever this year by rea- son of the small payments to be made on thm owing to the losses that have been en on securities and on busi- ness orer it is yet too early to estimate the receipts of this district, compared with 19!0 and 1929, it is understood that there has been a very great fall- ing off shown by the income statements already filed. The astonishing feature of these statements is the high propor- tion of those on which not a dollar of tax will be collected. Extent of Shrinkage. income experts who have been Nfor months making up the re- of Wall Street people, and this cent, compared with previous years, On this’ basia they feel that the Gov- ernment’s estimate of a decrease of 25 per cent in income tax receipts for the it the - ?!ymenu on March 15 rather it up into the usual quarterly ewrd.l “to the income tax for 1928, ';lou:h are the latest detall, Innunu was derived in that year from those in the income classes between $3,000 and $25,000. Their incomes mmnmly u:mmm of ble amount of $25,226,- oooooo ‘Tax authorities believe that the greatest falling off in tax payments year will be by those whose in- comes range between $5,000 and $40,- BY GEORGE T. HUGHES. Los Angeles Gas & Electrio. (This is the thirty-elghth the subject of public cipal operati; mu was $10,756,668 against $10,346,773. Vert Sug 1st 7s l‘ Vienna 6s 52 West El deb 55 °44. . West Md e Wst Sh Ist 48 ll‘l. 1 West Unlon West UnT 6 109% 109% Wfl.&lnll'fl. u 101 100% X Yokohama 6s ‘61 T 99% 99%, 93% Ygstn ShaT 5578, 64 101% 101