Evening Star Newspaper, March 25, 1931, Page 14

IFINANCIAL. 7HE EVENING STAR, WASHINGTON, :D. C, WEDNESD\Y A—I4 w%% IGERMAN BONDLLIST ACTION ON PACKER * DECREE IS SOUGHT U. S. Will Ask for Final Court Rule on “Consent” Decision. BY DEAN DINWOODEY. The concluding chapter of the anti- trust: litigation between the Depart- ment of Justice and the natlonal ‘pack- ers, which has now lasted for over 10 years, has not yet been written. Solicl- tor General Thatcher now announces ¢ that the Federal Government will seek & fina. determination of th: case by the Supreme Court of the United States. ‘The present appeal will be taken from the decision of the Supreme Court of the District of Columbia, which modi- fied the famous packers’ consent decree, entered in 1920, by removing restric- tions therein which had prohibited the national packers from manufacturing, mluulnf and distributing so-called unrelated food lines, such as vegetables, fruits, fish and cereals. Decree Not Effective. ‘The consent decree, although entered 11 years ago, has never been effective, so that in fact the restraints placed by it on the business activities of the pacik- ers have not bcen enforced. Th: de- cres exists, however, ready to be exe- cuted if the packers fail in_their last move to have it modifi:d. Shoud the highest tribunal disagree with the ccn- clusion of the lower court, its decision will erase the final hope of the big kers. l’-&mnul for Armour & Co. and Swift & Co. argued in the trial court that merchandising _conditions have so changed since the consent decree was entered as to no longer make necessary its stringent terms. A monopoly does not exist in the meat industry at the present time, they sald. lence was also produced to show that a monngo!y by the meat packers in the food indus- try is an impossibility. In the Supreme Court the packers tust first prove that the consent de- cree can legally be modified. If they successfully cleslr this flc?tnh:‘rxl;“ it jeved the Supreme Cou - X mkm "afi' hn.u&‘l? u&! |g|;:~ . ident o e, Inc! yuma ":;: the lower court to modify decree, though it was entered upon agreement of the parties. Entire Request Not Granted. ki The Supreme Court of the Dis of Columbia did not grant the request of the packers in its entirety. They demanded the right, although openly disavowing _sny intention to exercise it, to establish and operate retall stores. Their attorneys have not yet deter- mined whether they will file a cross- appeal from the denial of this relief, but it is thought they will forego this vilege and bend their efforts toward ring partial success of their cause. The decision 7‘ the sz‘l rtment_of take its aj e O have been in- the constant threat i 5 its to t(he Senate Jx: prior “'to adjournment of Congress, come tigating food prices de- o u‘}":: (':cu"u to :}\:e inm:ex;‘e b Kt over e mea! - o e i P known.” inferring some mmm ‘!eum in Supreme case my'nm be “"1‘%; ear. before the end of the year. The Fall term in (Copyright. 1931.) — FEDERAL RESERVE HOLDINGS INCREASE Report Shows Bank Added $425,- 000,000 in Government Secur- ities During Week. he Associated Press. > rbe Reserve Board's condi- tion ‘statement of Wi member banks in leading cities shows increases for last week of $425,000.000 in hol of Government securities and of $522,000,000 in Government de- posits as well as $141,000,000 in loans and $57,000,000 in net demand deposits. Total loans and investments, largely NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. (Continued From Page 13.) Stock and Dividend Rate. Murray Corp. £ (F E) & Br (2) t Dairy ( ~ Nat Dept St 1st Newport Co (1). Newion Steel N Y Central (6) t (1.20) & Hart (6).. Nor Am (b10% stk North Amer pf (3) Northern Pacifle (5). Northwest Tel (3).. Norwalk Tire & Rub. Ohlo O11 (1).. Omnibus Corp. Otis Elevator (2% OtinSteel. ........ Otis Steel pr pf (7).. 1¢ Pacific Coast 1st pf Pacific Gus & Bl 125, Pacifie Lighting (3). Pacific Mills. . Pacific Tel & Tel (7) 5008 . 208 . 82 4T%h 464 10% 2 4 13 woRnen Penn Dixie Cement 4 Penn RR (4). Peoria & Bastern Marquette (6).. Pere Marg pr pf (5). FPetrolm Cp of Amt1) Phelps Dodge (2) Phil Read C & I..... Philip Mor & Co (1). Phillips Petroleum. . Phoenix Hos pf (7) Plerce Oll. Plerce Oll pf. Pillsbury Flour (2) Pittsburgh Coal pf. Pitts United Corp Pitts Unit Cp pf (7). Port R Am Tob A 3% » FreNaa 65 40; F S .w ELST TR SR EN - TL: P 10 Proct & Gamb (2.40) Proc & Gamb pf (5). Prod & Refiners 30s 109} 981, Pub 8v N J pf (6) Pub 8v N J pf () Pub 8v N J pf (8) Pub Sv E &G of (6) Pullman Corp (4) PureOfl.... Pure Ofl pf (8). Purity Bakeries ( Radio Corp. Radio Corp B (5). 2 Radio-Keith-Orph A. 101 Raybestos Man 2 60. 30 Real Silk Hos(b10%) Real Sitk Hos pt (7). Remington-Rand. ... Rem-Rand 18t pf (1) Reo Motor Car 140n). Reo Motor ctfs (40c) Republic Steel. Republic Steel pf. Reynolds Metals (2) ob A (3). 157 11 52 9 TP = a =3 59 27 23 7 5 308 5 4 4 11 41% 2 26 42% 66% 90 105 30% 62% 76 0% 10% 1% 2% 11 63% 584 10% 20 61 29% ) Rossia Insur (220).. 3 Roy Dtch(m1.2404). 4 Safeway Stores (5). 12 Safeway pf (6)..... 1203 Safeway Strs pf (7). 20s St Joseph Ld (2). 5 St Louis & San Fran. lg 2 Py 651 St L-San Fran pf (8) Seab Afr Line pf, Seagrave (60c). Sharp & Do pf 4 Shattuck F G (11%). Shell Unfon Ofl.. ... 24 % 2% 41% 3% 3% 415 59% 58% 5% 93 924 117% 117% 135% 135% 93 92 51% 50 57% 57 a 2 915 281 22% 21% 47 46 20% 78% 73 51% 51 815 4% 34%m 24% 24 . 1931 Low. 45% 4 92% 4% 8% 10 5% Spencer Stand Of! Stand O] Stand Of) Starrett Sterling Stewart Superfor Superior Thermol Thomps Tide Wa Wa a 53% 45 1% 14% 5 T Tobacco 5% Tobacco 14% €07y Transue 12 Iri-Cont 53% T'ri-Cont 6713 248 30% 9% Un Carbi 10 2 3% 21 4% 13 Unit Carl 4% Unit Cor; 5% 65 20 8% Unit Dye Unit Frui UnitG & UnitG & Pipe Real! Rub| Rub Smel cdeaccacaas ruRBBLLEN® ' 109% 3%, s 984 Univ Pip Univ Pipe 156% 11 51% td Vadasco Vadasco 2o Waldort 2% Walwort 5 Ward Ba 221 €3 14% 8 % 8 Was Bio: 19% Westing Westing Westing % 3% T “ 3T% - Wextark Sou Cal Stock and Dividend Rate. 86% Sou P Ric Sug pf (8) 10s South Cal Ed (2). South Dairies B South Pacific (6 South Ry (8). Sparks Withing (1). Spiegel-May-Stern. . Stand Brands (1.20). Stand Comel Tob. 4 Sterl Sec pf (1. Sterl Sec cv pf (3) Stone & Webster (3). Studebaker (120) Sun Ul pt (6).. Superheater (2%) Tennessee Corp(50c) Texas Corp (3). . Tex Gulf Sulph (4).. Texas Pac Land Tr.. Thatcher Mfg (1.60). The Fair (2.40). Third Nat In Thompson Starrett. Timken Det Ax (80¢c) Timken Roller (3)... Iransamerica (1). Trico Prod (2%).... Union Bag & Paper.. Un Oll of Cal (2) Unit Atrcraft Unit Aircraft Unit Biscuit (2). Unit Biscult pf ( Unit Cigar Stor Unit Corp (76c) . Unit Dyewood. Unit Electric Coal. .. Unit Piece D W (2).. U S Express. Gypsum (1.60) U S Steel (7).. U S Steel pt (7). Cnit Stores A. Unit Stores pf (4)... Univ Leaf Tob (3) Util P&L A (012.15).. Vanadium Corp«3).. Vulean Det (4).. ner Bros Pict... ner Quinlan. Warren Bros (3) Weston El Instr (1). Sales— Add 00. High. Low. 110 110 6 511¢ 5 5 9% 52% 124 16 1% 19% 3% 84 4 45% 464 22% £ “~ 8% 38% 20% 53% 25 Kellog (80c) 1Cal'(h3%). 1N J (12)... 1IN Y (1.60). (LS) (12%), Sec A Warner. S 0il Steel 1% 17 814 29% 52% 15 19% 21% 7 " S N R DI NS N N 1000 0 % OIS B e e SN NS B0 d Co n Pro ter As (60c) tAs pf (6).. t Oil pf (5).. % 60% 76 11 57 o% 13 14% 14 11% 934 43 12% 6% 22% 85% 22 36 55 41w 122 20% 6% 52 4 43% 9% [ 35% 28% 1n 11% 9% 29% 474 9% 54 9% 143 344 324 19% 34 23 147% 149% T 4% 8% 3 53% 29% 1% 23 72k 63% 24 1% 6% bdig 13% 5 41% 45% 304 26 Products. .. Prod A 195¢ & W 1) Corp... Corp pf (6) de (2.60)... SN arn®a bon. .. D Pt (3). wood pt (7) 1t (4). Im (1.20).. Im pf (6).. o &F (2).... ty & Im (3). " er 1st pf. t & Ref (1). C ) » pRadvwRetEaSnanonomne o & Rad. e & R pf (7) 5 E A Peosm ENOD R~ Sales Corp.. Sales Cp pf. Sys (1%) h Co (1) King p! s w& 8 cv pt AB3).... 1 E1&MIg (4). 270 E&M pf (4).7208 -3 Radio Strs. White Motors (1).... White Sewing May Wilcox Oil & Ga Willys-Overlan Willys-Over pf ( Wilson & Wilson & Co A. Wilson & Co pf Woolworth (2.40) Worthington Pump. . Wright Aeronaut Yellow Truck. . Youngs Spring (3) Zenith Radio. RIGHTS—EXPIRE. Co. 55 50 208 24 3 7 24% 14% 24% 4 Ed..Apr20 1660s 2% 21 2% 2% :South American Issues Also Sell Off—Domestic Group Steadier. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, March 25.—The widest flu movement in bonds today occurred the foreign department. These re- flected new political and economic de- velopments abroad, which had the ef- fect of lowering the prices of German and Austrian issues and of disturbing holders of South American securities who read of further revolutionary out- breaks in Peru. The decline in Australian bonds ex- tended from 2 and 3 points in the 5 per cent and 4! per cent loans. This is looked upon as in the nature of an adjustment, following the recent hea: in these obligations. liga government 7s were off bout all had ha) pened to them that could affect thelr price at the present low level. In the domestic market the changes were moderate and the volune of tran- sactions was rather small. Obligations of the oil companies worked lower, es- pecially those of Phillips Petroleum 5%;s, which were off nearly a point, and Pure Oll 5145, Texas Corporation 5s lost 13 point. Sugar producing bonds were steadier on account of the advance this wevevklukn whol;!ulfi prices. ‘eakness developed in International Mercantile Marine 6s, Inland Steel 4158, which lost a point, and in International Telephone 413s. Consolidation Coal 5s were up_fractionally, with an 8-point rise in the past two days. Armour of Thls " were ‘siightly Setier i sympatay sl ly in carloadings reported for the second week of M.lrcg. - » There was little change in the list of Government securities, t! market hav- ing temporarily discounted the expected additional Treasury financing next :\:lf'nem t?f‘l”hlo’-“" oé Liberty bonds & trifle lower and the o The prospect for fiuch greater Gov- ernment financing than h:rd!been an- ticipated is again delaying certain cor- poration borrowing that had been near the point of completion. It is expected that an issue of $25,000,000 of first and refunding 4 per cent bonds will be of- fered shortly by the Public Service Electric & Gas Co. of New Jersey, which will call $22,500,000 of its first 5 per cent bonds. - The State of West Vir- ginia today offered $5,000,000 3% and 47, per cent bonds at yields ranging from 2.25 per cent to 3.80 per cent. Rayon Dufi;w Be Lowered. n_ per 100 kin by an amended act which passed both houses today. This it 1 Vo b : | pine and spruce w& ~— U. 8. TREASURY BALANCE. The United States Treasury balance, announced today as of close of business March 23, was $664,888,053.32. Customs receipts f $23,905,399.76. Total tures, $9,416,287.18. S R L Ford Plant Near Capacity. NEW YORK, March 25 (#).— gembly plant of the Ford Mokor Go. 4% Pacity, producing 170 cere Bt —_l Washington Stock Exchange SALES. Cap. Tract. 55—81,000 at 81%. v B aR el 3 . e " at . Pot. Elec 6% pfd.—2 at 112. - Lanston Monotype—10 at 108, 10 at 108, AFTER CALL. Wash. R. & E. 45—$1,000 at Cap. Tract. 55—8$500 at 815, Wash. R. & E. pfd.—10 af 987%, 20 at 987%, 20 at 98 Cap. Tract. Co.—50 at 35. Amer. Sec. & Tr.—3 at 346. Col. Country Club 5%5—$1,000 at 100%. UNLISTED DEPARTMENT. Natl. Press Bldg. 5'55—$1,000 60, $1,000 at 60, $3,000 at 60, $2,000 at $0. Bid and Asked Prices. 8%, 10 at lor the month to date were|c, ex] JJARCH 25, 1931. FINANC [on raw_sonc BONDSS srocx sxcaance] YO! . Received by P UNITED STATES. (Sales are In $1.000.) Sales. High Low. Lib3%s32-47.. 2 10126 10126 10126 |L1st414s32-47. 16 102 26 102 23 128 23 L4th4i s 33.38 205 103 26 103 21 10321 US3%s40-43.. 4 10115 10110 10115 US3%s41-43.. 20 10114 10113 101 14 US3%s43-47.. 1 10124 10124 10124 lusiss 13 107 24 107 18 107 18 US4y 6 11126 11126 11126 w. Close. 6% 7 8! Am1GChb%s'4d. Am Int Cp 6%8'49. Am Matal 6%s Am N Gas 6%s 42, Am S&R 1st 5847, Am Sug Ref 6s'37. AmT&T cva%e'3d i Am W Wks 68°34. . Argentine 548 '62. Argentine May 61 Argentine 6s Oc A B 5 | Austria 7543, |P&O4n 5. B&O 4%s'33. O conv 4145 '60. e veanuBlehhanRitannne Batav Pet 4 %5 42 Belgium 6s ‘65 Belgium 6%s “49 Belgium 78 Belgium 7s '56 Bell Tel Pa 58 B "48 ! Bell Tel 'a 58 C '60 Beth Steel pm 55'36 Bolivar 7s ‘58 Bolivia 7s ctfs Bordeaux 65 '24. Bos & Me :l 'l:. N Brazil 8s 41. Bremen 78°35.... Bd & Tth Av 5843 Bklyn E! Bklyn Man Bush Ter con & 00% 102% 106% 101% 119% 12 88Y% 1008 % Can Nor 7s deb 40 Can Pac deb 4s Can Pac 4%s8 4 Can Pac 4%s°60... Can Pac bs ctfs "44 Car Clin & O 68 '52. Cent of Ga 5%s'59. Cent Pac 4349 Pac » 'S rBaedrealeoman - ™ RSt alGnanon~ ChyGrt W o _oa oa Chi R Icv4%s'60. ChiRI&P %8 A. C TH&SE in 55 '60. Chi Un Sta 6%s'63. o e RNBABD M Christiana 6 CCC&St L 4%s E Clev Term 5873, Clev Term 5%s ‘72, Zolomb 6s Jan ‘61.. Colon Ol 65 '38 1 Colo & Sou 4%s°35. Private Wire Direct to The Star Ofce 1AL, RAL NERGERPLAN 5 BELEVED NEAR 3 Carriers Expected to Submit Four-Trunk-Line Pro- posal Soon. BY CLAUDE A. JAGGER, Associated Press Financial Bditor. NEW YORK, March 25.—The word has gone around in rail cireles that the % | four-trunk-line Eastern consolidation L & N 58 B 2003. Lyons 34. MeCormack 6 McKes& I 6 Milan 6%s ‘52 MIERy &L M StP&SSM con 4s. M StP&SSM bs '33. M StP&SSM s gtd. 7% | M StP&ssM 63 MK&T 1st 4 MK & T adj 5 Mo Pac gen 4575 Mo Pac 55 A * Mo Pac 68 .24 1 12 2 93 Montevideo %" Mont Tr 1st 6 Mor & Co Ist 4% Nassau Elec 4s '51.. Nat Dairy 5%8 "4 Nat Rad 6%s 47... NOT&MbsA'SS, NOT& Mb%s"54. New 8 Wales 68 57 1% B Bowad NYCents NY 5 Cen rf 43382013 3 Banmma 107% 106% 89 104% 101% 106 Beer 1. SBeo NY ELH&P 4s ‘49 NY NH&H 4%s 67, NY NH&H el 6 3% 105% NY W&B 4%8'46 Nord 6%s"50. . Nor & Wn ev A Nor Am Bd 5345 '63 NorOT& L 6847, Nor Pae 38 2047 Pac P T=T N IOy an aad Nor St Pw s A };'n Norway bs Rt Norway §s 44, Ore Short L 5egtd. Oreg-Wash ¢s'61. . Orient dev 5% ‘58, Orient dev 6: Pathe Exch 7s '3 Penna 4%s D'8 Penn gen ¢35 Penn 43870, Penn 4% s 63. 106% 83% 97 102% %% -101 105 110% 109% 99% ‘31 31 52 102 80% 6% 101% plan is about to be gingerly deposited upon ths 1ap of the Interstate Com- merce Commission. At the moment it is felt in rail cir- cles that the commissio choice but to adopt this m "fl: of its own child, which Eru been l&'l] wasting away since the commission an- nounced its five-trunk plan more than .M.fi bee: thr\lmm" ve been va the health and devel v.afl.m- ite about op! m format . 2t's present inf tion, is 8% | all but ready to make its official public { appearance. A Slow Process. If consolidation will help the rail- roads to reduce their operating ex- penses, the low state of rail earnings offers abundant reason for hasis. at best consoiidation is a slow matters of merger may be complica by objections and ambitions of THIROFILY o tion, 1 holdings stock, of which it now has about 46 per cent. Wall Street understands that the New York Cen- tral is ready to s°ll ths Baltimore & Ohlo its 25 per cent interest in Reading at any time. The Baltimore & Ohio, therefore, seems well on the way to ac- com) its ml:r c(;gneun. pene- 5% | tration to New Yor! has been made, if &ny ttling controversy between New York Central and the e over -the s e and since the Baker and Vanderbilt families are important interests in - As & portant obstacle is looked for. matter of fact, the New York Central to have been increasing Vi that - the well their ment > New Yo however. is determined to hold the Bos~ ton & Albany, on which 999~ year lease, ' wms OUTLOOK IMPROVES - IN CANADIAN TRADE Early Opening of St. Lawrenos Means Good Start for Sea- result of the Treasury's operations i.l: :mnectwn with quarterly tax pay- ments, increased $534,000,000. Loans on securities increased $123,- | 000,000 in the New York district and $41,000,000 i1 the Chicago district, but declined $36,000,000 in the other dis- tricts. All Te banks showed & 10% o Shell Un O1l pf (5%) Simmons Co Simms Petroleum. . Sinclair Con O1l (1). Skelly Of) Skelly Ofl pf (6). Snider Packing. Snider Packing pf Sales of Stocks on New York Exchange. 300000 12:00 Noon. 1.600,000 2:10 P.M Dividend rates as given in the above table payments based on the latest quarterly or half s Unit of trading 100 3 3 e e 4% 1n'stock. APavabIe 10 erin. YB: BONDS. PUBLIC UTILITY. PCC&StL5sA. P& WV4ysCe0. Poland 640 Poland 7s *47 109% Sou 4% '80. Colo & % 95% | Special Dispatch to The Star. Col G&E 58 May '53 Com Inves 514849, 50 5. Con Pwr Jap 6% Con Pow Japan 7 . 1600000 annual eash | Amer_Tel. geclaratigns. | Am. Tel. . e the arly p. tPius ¥ —no_regular i b Payable 1 T yable in Porto Ale; 1 Pos Tel & C b: reporting & net increase of $128,000,000. “All other’ Joans increased $40,000,000 in the New | York district, $12,000,000 in the Min- neapolis district and $13,000,000 at all banks, but declined $19,000,- 000 in the Boston district and $9,000,000 in the district. ldings of Government securities in- cri‘l:ed in nearly all districts, the total gain being $425,000,000. Holdings of other securities declined $30,000,000 in the New York area and $32,000,000 at T ———— Borrowings ting aggregated $27,000,000 on March 18. ’lg: principal change for the week was an increase of $6,000,000 at the Federal Reserve Bank of S8an Francisco. Washington Produce Butter — One-pound prints, 34a35; x “’w&fiq, 21a22; current re- ourtg, 30a32; chlc{em. 30a35; 16; ducks, keats, large and young, 60a65; old, 25a30;. Dressed—Turkeys, young. 38a40; mzl._A 80:32‘:] WIX\?; e{,’:l:l"k"-K : roilers, 45; | ey 38" smale 25: Leghorns, 23' % ; smail, 32233; | 16; keats, young, | 70280; old, 40a45. | Meats—Beef, 13152151 ; veal. 13a15: | lamb, 17a19. rk loins, 21a22; fresh | hams, 19; fi shoulders, 14; smoked _hams, 21, smoked shoulders, 12; strip bacon, 21; lard, in bulk, 11% ages, 12%;. Tive stock—Hogs, heavy, 7.0087.80; and medium, 82528.35; pigs, 7.50a ]l B? loughs, 4.00a5.50; calves, 4.00a8.50; lambs, 5.0029.50. progra A gesoline sto-ks and fuel oil stocks, | | Associated Pre | individual exceptions, as in the case of | 8 9% South Port Rico Sug. vatle in cash or stock Plus 2% k 3 o Slock! Ular Tate. 'n Pius 8% in st ock. toc! Plus 8% Plus 3% in tock. CORPORATION REPORTS —_— TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, March 25.—The follow- ing is & summary of important corpo- ration news prepared by the Standard Statisties Co., Inc, New York, for the £°H News Trend. Preight car loadings, considered sig- nificant as an indicator of industrial trend, showed a gain of 10,728 cars for the week ended March 14 over the pre- ceding week to 1804’,262 ur:. .;I;ha en‘; couraging nature of any gain shown such & report is increased in this case by the fact that the advance was more than expected and more than the usual seasonal gain for this week. In effect, it com) tes, at least tially, for the disappointing report for the week | before. On the other hand, reports of Febru- ary raflway net operating income are of | a less favorable nature. In most cases | the comparison with February, 1930, is | unex) dly poor, aithough there are | New York, Ontario & Western. Steel developments, particularly prices | nd operations, are reported by the Iron Age as irregular in character. Advances in prices of bars, shapes and plates, an- nounced - last week, do not accord with price weakness in flat rolled products. Although the rate of operation for the country remains unchanged from the ing week at 57 per cent, ucofd.lr’ Iron Age, output in some parts the country increased, balanced by de- creases in other It is estimated that daily average crude oil output for the country in- crease. for the week ended March 21, an_unfavorable development. Purther | indieation of failure of the ofl restrictive m is found in th: increase of Electricity production, another im- | portant economic indicator, showed a | decrease for the weck ended March 21 | by 2.3 per cent from same week of 1930. | The Companies. in ‘Woolen stockholders rofit sharing plans for prinei) ln:g’ ns - gflfl; wmugn will start after net earnings of $2,000,000 is shown in any | ferred B opera t\u.roumwpe: have now been re more liberal dividend will be pursued, since 0 all senior obligations Co. February net operating | income off 61.1 per cent; 2 months 432 per cent. Warner . Bros. Pictures subsidiary, Warner Bros. Theaters, buys 13 Ken- tucky theaters. Wilcox (H. F.) Oil & Gas arranging for purchase of 2,000,000 barrels ofl, payment to be made in new 7 per cent preferred stock. American Natural Gas Corporation passes second preferred dividend paid 17'; cents January 1, 1931, Boston & Maine Raflroad February surplus after charges off 48 per cent, two months off 49 per cent. British Columbia Power Corporation, Ltd., February gross off 2.4 per cent, net earnings after interest up 6.1 per cent; eight months gross up 0.4 per cent, net earnings after interest up 7.4 per cent. yn & Queens Transit it- tee of the Whole of New York City Board of Estimate voted to report out for consideration to full board applica- tions of companies seeking bus fran- chises. Commonwealth & Southern February net after taxes off & per cent, 12 months | off 5 per cent. Consolidated Retail Stores 1930 com- mon share earnings 31 cents, against $1.45: proposes reduction in capital from | $4,208,745 to $3,252,160 and change of | common from no par to $5 par. Corn Products Refg. first quarter vol- ume below that of year, ago. Gardner Motor 1930 deficit, $821,403, against deficit of $433,174 in 1929. Glen Alden Coal—About 3,000 miners strike; action not authorized by union. 1950 Dot income, $3.840,014-" apuinet net 3 ,940,014, $2,666,922, iy Grier Railroad senger traffic off 5 per cent in 1930. Kentucky Utllities 1930 common share earnings, $10.13, against $11.33. Knott Corporatien 1930 common share esrnings, $2.92, against $3.11. New River Co. 1930 common share way February net operating income, $84,735, against $19,167 February, 1930; v ths, $164,302, against $41,034. Oklahoma Gas & Electric 1930 net. $3.486,319. earnings, $3.43, against $4.01. Schilesinger (B. F.) & Sons $7 pre- mnln(:7yelr ended January 31, $6 pre- Reed Roller Bit 1930 common share | Sinclair Consolidated Oil subsidiary cuts tank car ine price 2 cent gallon on Atlantic seaboard. Smith (A. O.) Corporation gets con- tract for remainder of Kettleman Hills- Los Angeles gas pipe line, 131 miles, from Southern Fuel Co. and 50-mile pipe line order from Texas Co. Standard Oil of New York cuts tank car gasoline price 1, cent to 6} a gallon in New York Harbor, 63 Boston and Providence, and 7 cents Portland, Me. Standard Oil Co. of Ohio 1930 com- mon share earnings, $5.56, against $6.62. Venezuelan-Mexican Ofl Corporation share exchange plan with Oil Explora- tion Co. operative; stockholders to re- ceive one share Oil Exploration stock for each Venezuelan share stock and 50 cents in cash. Wil-Low Cafeterias common share earnings, five months to Pebruary 28, Wrigley (William), jr., declares three monthly dividends of 25 cents, 50 cents, and 25 cents, respectively. Steel Prices Reduced. NEW YORK, March 25 (#)—A de- cline in black sheets brings the iron age finished steel composite ‘pnce to 2.128 cents a ind from 2.142 cents, where it had held for 10 weeks. Pig ron is unchanged at $15.71 a gross ton Qilldolhc.vy melting scrap remains at BRI SHORT-TERM SECURITIES. (Reported by J. & W. l{lllnlnl‘: C?’Jfl e ; funoesoss gote y. i, A 101 1 fos. " 1024 95 104 538883228 I T iyear T. & R 8Pond Trunic 8t Bamaas: Gulf Oil of Pa. s 1937 ioive 8% i g8212a350g before amortization, $3,761,939, against s Union Ot Co v bber Bs 1 ited Drus Go. Bs 8. Rubber Western %fle 3 seling il o, LX against glove and other products from Czechoslovakia lasy year shipped were valued at nearly $35,000,000. Wash. ash. Rwy. MISCELLANEOU! Barber & Ross, Inc. Chevy Chase Club 8! Columbia Country Club $ias. D. r Mfg. 6s. PUBLIC UTILITY. Amer. Tel. & Tel. (9) Capiial Traction ' Co. Wash. Gas Lt. 8 4 % pla Elec. Pow. 812% pii h. Rwy. & Elec. com (7). h. Rwy. & EL ptd. (5). NATIONAL BANK. pital lumbis mm al Distriet (8 ............. 204 Fed.-Amer. Natl Bk. & Tr. (2) Liberty (7§) 190 Pot. Wi Cay Natl. Savi Prince Geo: Union Trus 7zl Wash, Loan & Trust (14).. States (30) < Mechanics (20). PIRE INSURANCE. American (12) Corcort «ae Dnited Washington ¥ 53 S8 .55 83. BN reme; e National Union (1 TITLE g fle @ Tov. Barber & Gol. Medical Bidg. ‘cor Col. Sand and Natl. See - W% i Mt o Hut e o Donner St 78 '42 Duquesne ¢ % ' Dutch East | Mi Dutch East 1 S rhoammmaRRannwSa nane —os WAk ahnaS Fram 1D 7%s 42 French 78 '49. French Gvt T%s 411 Gelsenk'chen 6: Gen Cable 5% Gen Mot 30 89 18 4 German 5%s 65 German Bk 6s '3 German 6% Ger Gen EI 7: Goodrich cv 45. Goody'r Rub 58 °57. Grt Trsfdbés 36. Qrt Nor 4%s 77 E.. Grt Nor 5873 Grt Nor gn 6%s '62. Grt Nor gen 78 '3 11 . 87% Hud & M rf 68 57.. Humble Ofl 58 '37. . Hum O&R Rign 62, Hungary 7%s 4 11 Cent 4s 52 111 Cent ref 4s ‘556 111 Cent 4% s - Touci!‘l 61, Pub SV G 434367, Pub 8V G 4%s'70. Pure Ofl 5%s 37 Rio de Jan 1 | Rio de Jan 3 Rome 6%48'52. ..., Roy D ¢s 45 StL&SFIn % SIL&SF %878, St L&SF pr In bs B, StLSWevés'3s. 52 Shinyetsu 6%s '52 Sine O Tscv A '3 Sinc Cr O 5%s '3 Solvay Am bs 42 101 % 84% 114% 6% 103% Swiss 5% "¢ Tenn E1 P 6s A 4T 9% Third Av Third Avady Toho El Pow Toho El Pc SeanSane d L aonl & ~nSe o w | B Jun KE TREASURY CERTIFICATES.' « by J. & W. Reported by J. & W. Sellsman & Co.) 1 100 11-33 o 15 B ‘l 18- 8L Ut1] Pow 5a ' Utll Pow 54s Vert Sug 1st 75 "42. Vienna 6s°53. by $§e88 sl Walworth 6s A 45, Warn Br Pic 65°39. Qui 3 58 West Md 48 '52. West Pac bs 33553389 Jus 23] §iszs 5 "Efiii’ e