Evening Star Newspaper, April 6, 1931, Page 14

A4 BRITISHER BUYING | AMERICAN STOCKS Wall Street Traders Inter- ested in Report of Ex- pert’s Operations. Rk BY CHARLES W. STORM. Rditor, The News Service of Wall Street. Special Dispatch to The Star. NEW YORK, April 6.—An English financier whose ability for judging the probable trend of the American stock market is highly esteemed is now de- clared to be in the market as a sub- stantial buyer of American stocks. This news was considered significant in the Street, owing to the wealth of the in- dividual in question and his reputation for axccen(ul speculation in American stocl It was this report, together with the strong technical position of the pivotal stocks, that was responsible for the stronger undertone in the general market Saturday. Auburn Auto continued to be the sen- sation of the market and advanced more than 22 points to a, new high price for this year. Auburi's advance ‘was accelerated by additional reports of increasingly large earnings now being made. Earnings for the first quarter of its fiscal year will not make a good showing, but the results for the second quarter are declared to be excellent. Auburn Auto will do the best business of any of the motor companies this year. The motor group in general was stronger due to announcement of in- creased business for March. Tobacco Shares Higher. A better inquiry continued to appear for the tobacco stocks. American To- bacco B, which is the daddy of the to- bacco shares, advanced more than three points. Buy\n[ of the tobaccos is being stim- ulated by expectation that announce- ment of an increase in the price of cigarettes will be made within a fort- night. Steel Operations. While official reports from Youngs- town stated that tions were about 3 per cent lower, unofficial reports were current in the Street that the sub- sidiaries of the United States Steel Corporation were operating at 60 per cent, which would be about 3% per cent nbove what was reported earlier in the Rumuru were current that a certain group was contemplating concentrating their attention on A. M. Byers stock with & view to putting the stock higher. Alcohol Price Advanced. The conferences which have been go- ing on with a view to stabilizing the price of alcohol and eliminating the ruinous price-cutting, which has been on for months, apparently has some beneficial results, inasmuch as the price of alcohol was on Saturday advanced 5 cents a gallon. This natur- ally had a stimulating influence on the price of U. 8. Industrial Alcohol stock, which advanced more than a point. Railroad Dividend Changes. ‘The Street continues to awalt action anxiously by a number of Southern rail- roads on their dividends in the imme- diate future. Cuts are expected by at least four roads. It was encouraging, however, to bear onh.s‘nzummzj in re- ble st e Pennsyl- wmandmco would at its next meeting declare the regular dividend due at this time. Because of the prom- inent position occupied by the Pennsyl- vania in the transportation world, dec- laration of the regular dividend would undoubtedly be a source of much en- couragement to investment holders of stocks. Although the bearishness in the Street 1s not as pronounced as it was last De- cember, the Street is pessimistic with regard to the future of the stock mar- ket, owing to the albisence of cnod news and the probability that there little if anything in the trade mws w warrant optimism on the stock market. (Coprright, 1931, by Nerth American News- paper mu.n BUSINESS RECOVERY IS DECLARED NEAR|A- General Motors Repprts Reveal Covcragc of Their 1930 Dividend Requirements. Trade Experts See Critical Period in Emergence From Depression. Special Dispatch to The Star. NEW YORK, April 6.—The beginning of the second quarter brings no break in the monotonous movement of busi- ness along the bottom on which it has been bumping for five months, says the Business Week in its report covering the week ended April 4. The Sping stimu- lus has been scarcely more than season- al, and the index, after allowance for this factor, so far shows no certain sign cf rise from a level about 20 per cent below normal for the week ended March 28. This compares with 81.1 per cent in the week preceding and 93.0 per cent in the same week last year. Steel has lost a little of its momen- tum, as it usually does after March, and automobile output is Increasingly cau- tious. But electric powerproduction re- flects a slow growth in general indus- trial activity, construction is encour- agingly active and carloadings suggest an increasing movement of merchandise for Spring trade. Best of all, the drought is routed and crops are promis- ing. But declining stock and commod- ity prices, weakening bond markets and chronic credit contraction show con- tinued lack of business and banking confidence here and abroad. Although a critical period for early business recovéry is approaching, there is still no hint of any major move to hasten it. With all Europe embarked ‘upon an international “race for starva- tion” through wage cutting, and our financial interests still seeking salvation overseas rather than in domestic devel- opment, American standards hang in the balance and need bracing with a bit of business backbone. CBOP CONDITIONS GOOD NEW YORK, April 6 (#)—W. B. Storey, president of the Atchison, To- peka & Santa Fe Railway Co., who has Just returned from a four-week inspec- tion tour of the lines, said today that crop conditions in Santa Fe territory were as good as he had ever seen them and that he had never known prospects 1o be better. “We will have a normal volume of fruit traffic from California this year,” Mr. Storey asserted. “Last year, be- cause of the short citrus fruit crops, our revenues from this source were be- Jow normal. . North American Co. FINANCIAEL. STAR, WASHINGT! NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. (Continued ‘From Pll. 13) Stock and Dividend Rate. Panhandle P & R pf. Paramount Pub (4).. 208 36 2% G- Pathe Exchanze A. .. Peerless Motor cn. ‘ DT =L PO Peop Gas Ch (8).... Petrolm Cp of Am(1) Phelps Dodge (2) Phila Co 6% pf (3 Phil Read C & 1 Phillips Petrol Phoenix Hoslery. Plerce Oll........ Pierce Petrolm (10c) Pillsbury Flour (2).. Pittsburgh Coal pf.. Pitts Unit Cp pf (7). 180; Pitts & W Va (6)..%. Prairie Oil & Gas (2) Prairie Pipe L (3) Pressed Steel Car Proct & Gamb (2.40) Proc & Gamb pf (5). PubSvNJ (3.40)... Pub Sv N J pf (8) % PubSv NJpf(6)... PubSvE&G pf (6). Pullman Corp (4) Pure O11. Pure O1l pf (8 Purity Baker} Radio Corp. Radio Corp B (6). Radio-Keith-Orph A. 60 Rand Mns (m1.21%) 1008 Raybestos Man 2 60.. 5 Reading 1st pf (2).. Real Silk Hos(b10%) Remington-Rand.... Reo Motor Car (40¢). Republic Steel Republic Steel b % Revere Copper & Br. teynolds Me Reynolds Tob Reynolds Tob B (3). Richfield Oil. Rio Grande Ofl, Rit Dent Mfg (234). Rossia Insur (220). Roy Dteh(m1.3404). Safeway Stores (5). Safeway pf (6). St Joseph Ld (2) St Louis & San Fran. St L-San Fran pf (6) St L Southwestern.. Schulte Retail Stri Seaboard Air Line Sears Roebuck $2% Second Nat Inv. Servel Inc. . Sharp & Dohm Sharp & Do pf (3%) Shattuck F G (t1%) Shell Unton Ofl. Shell Un Oll pf (5%) Shubert Theater: Simmons Co. . Simms Petroleum. .. Sinclair Con Ot (1). Skelly O11. Skelly Oil p Sloss Sheffield St Solder Packing. Solvay Am pf ww South Port Rico Sug. South Cal Ed (2) South Pacific (6) South Ry (8). Spalding 18t bf (7)., 108 Sparks Withing (1). 2 Spencer Kellog (80c) Spicer Mg pf (3)... Splegel-May-Stern. . Stand Brands (1.20). Stand Comel Tob. ... Stand G & E (3%4) Stand G & E pt (4).. Stand O11 Cal (h23%) Stand Ol of Kan (1) Stand Ol N J (12)... Stand O1l N Y (1.60). Starrett (LS) (12%) Sterl Sec pf (1.20) tewart Warner, tone & Webster (3). Studebaker (1.20). . Studebaker Cp pf (7) 20s Sun Ofl (11). 2 & EErLT 208 12 9 1 2 3 15 9 109's 56’ 6 118 5% 6% 9% | 36% AGa 003 Hllm ’l Ide Wa Transue Truscon 4% 11% 66 Waldort West Pa West ¥ West Pa \ tern tern \Ve-lern Wentern Westing Westing ing Wrigley Sou Cal 10:30 A.M. FIYHIPI b‘u‘ d vnn of u.aml able THREE LARGEST HAVE SHOWN SURPLUS IN YEAR & T., Pennsy BY CHARLES F. SPEARE. Special Dispatch to The St NEW YORK, April 6.—Wth the pub- lication of the report of the General Motors Corporations for 1930, the three largest concerns in their respective fields of industry—power and light and steam transportation—have revealed their eamnings to shareholders during the most depressed business period in a generation. In each case they have been able to show a surplus over the dividends paid on their stock. ‘These companies, in addition to Gen- eral Motors, are the American Tele- phone & Telegraph and the Pennsyl- vania Railroad. While two of them, Gen- eral Motors and the Pennsylvania Rail- road had a sharp reduction in their gross revenues, the American Telephone & Telegraph Co. was able to indicate a 3 per cent gain in operating revenues over 1929, but showed a falling off in net| earnings from $12.67 to $10.44 per share. Pennsylvania’s Earnings. The Pennsylvania Raflroad earned the equivalent of 10.55 per cent on its outstanding capital stock in 1930, com- pared with 17.64 per cent in 1929. Gen- eral Motors experienced a reduction of nearly 35 per cent in its net sales, earn- ing the equivalent of $3.25 on its 43,- 500,000 shares of common stock, against $549 a share in 1929. ‘The significant fact is that in a year in which, according to the April Na- tional City Bank circular, 1,900 cor- porations showed a reduction of over 41 per cent, or $2,445,000,000 in net profits, compared with the 1929 level, these three leaders were able to cover their current dividend payments on their stocks and put aside a fairly sub- stantial balance for their surplus ac-| counts. Of course, the situation in the March quarter of this year with all of these companies has not been so satisfactory. It is well known that the dividends on General Motors common and Pennsyl- vania capital stock were not earped CORPORATIONS lvania Railroad and during the period. But that is another story. ‘The General Motors report indicates that the present number of sharehold- ers in the corporation is 263,528. This compares with 567,694 shareholders of | the American Telephone & Telegr‘ph Co. at the end of 1930. Those owning Pennsylvania Railroad stock number 233414. In the case of each company their shareholders are to be found in every State in the Union and in nearly | every foreig country and American | dependency. General Motors Shareholders, The growth of Gencral Motors shareholders in the past decade has been 300 per cent, comparsd with an | increase of 200 per cent in the army | of American Telephone & Telegraph | holders. ~The numiber of of the former increased from about 46,000 to over 233,000 in 1929, showing | G, a decrease in 1930 of about 61,000, | while the number of employes of the telephone company rose from 231,316 in 1920 to over 324,000 in 1930, and fell off, owing to the depression, by nearly 40,000 in 1930. There was also & sharp reduction in the number of employes of the Pennsylvania Railroad during the yea A table appearing in the General earnings from the Inception of the company’s activities in 1909. In this period net sales were $11,268,058,079. The amount pald out in dividends to holders of common and preferred stock exceeded $1,000,000,000, in the ratio of about 9 to 1 in favor of the Junior shareholders. In adition, nearly $600,000,000 of income has been rein- vested in the -business. This turning back of profits, together with the fact that the corporation has no bonded debt, has placed it in a strong position to withstand the abrupt decrease in earnings and to mairtain regular divi- Ldends in spite of last years drop of $521,000,000 in net sales. (Copyright, 1931.) Baltimore Markets Bpectal Dispatch to The Star. BALTIMORE, Md., April 6—Pota- toes, white, 100 pounds, 1.25a1.85; new potatoes, barrel, 7.00a9.00; sweet pota- toes, barrel, 2.00a4.00; yams, barrel, NEW YORK, A h HN%FHJ L. Dlm! esident of the smerican d electric output of the com plny‘l subsidiaries for the 12 months { ended March 31, 1931, was within 1 per cent of the output for the months ended March 31, 1930, and was 6.5 per cent more than output for the 12 months ended March 31, 1929. ity S iapshbiindi: Bond Market. NEW YORK, April 6 (#).—Interest to id on domestic corporate bonds, Gl bonds this month. totas 1¢ dollar ‘mon! :‘;‘;'l‘.'z"ous. a compilation by Standard Statistics lhflwl nmmu- mmmu ' , ™ these same -m o muu.m 3.50a4.00; beans, bushel, 2.50a4.50; beets, crate, 2.00a2.25; cabbage, ton, 18.00a20.00; carrots, bushel, 40265; caulifiower, crate, 1.50a2.00; celery, crate, 3.00a4.00; eggplants, crate, 2.50a 5.50; kale, bushel, 1.00a1.10; lettuce, hamper, 1.5082.00; lima beans, 5.00a 00; peppers, crate, 2.00a5.50; parsnips, b:r 80a1.00; spinach, bushel, 1.00a 1.50; tomatoes, crate, 1.00a5.00; turnips, bushel, 50a1.50; apples, bushel, 60a2.00; per box, 1.25a225; mpe(mlt box, 1.50a2.75; oranges, box, 2.75a4.25; tangerines, box, 1.00a1.75; strawberries, quart, 20a25. 18a28; guinea fowl, each, 50a75; pigeons, pair, 30a35. Eggs—Receipts nearby firsts, dozen, 21%; current receipts, 205, tore packed, 16a17. Live Stock Market. supply; market aull. teers~Cholce to prime, none; good | to. cholce, 8.5089.00; "medium to good, 7.25a8.25; fair to medium, 6.5087.00; piain to fair, 6.0086.50; plain, 5.0086.00. Buils—Cholce to 5.50; fair to medium, 4.50a5.00; plain to hlr. 4.00a4.50; common' to plain,’ .5084.0/ W&—Chfllu to prime, none; good to choice, none; medium to locd. 4.50a .50; fair to medium, 4.00a4.50; plain to 3.0024.00; common to plain, 2.00a " Heifers—Choice to pnme none; .ooa to choice, none; medium 7.50; fux o medium, 500-1 00; Dlltl'l to Capons, Poultry, alive—C] 38; old s ters, ,mch. mr. 5.5086.00; common to plain, 4.50a Thompson Prod 1.20. Thompson Starrett. . Tld. Water As (60c) Wat As pf (6). Tide Wat Oil pf (5).. Timken Det Ax (30c) Timken Roller (3) Tri-Cont Corp. . Trico Prod (2%) .. Truax Trder (1.60).. Und-Ell- Union Bag & Pape: Un Carbide (2.60 Un Oll of Cal (2) Un Pacific (10) Un TankCar (1.60) Unit Afreraft. . . Unit Afrcraft pf (3). Unit Biscuit (2). Unit Biscult pf (7).. Unit Business Pub Unit Carbon. Tnit Cigar Stor: Unit Corp (75c). Unit Corp pf (3) Unit Dyewood. Unit Electric Coal. Unit Fruit (4). Unit G & Im ( Unit G & Im pf (5) U 8 Distributing U S Express. .. U 8 & For Secur. U S Freight U S Indus Alc U S Leathar. Walworth Co (1).... Bros Plet. Yale & Towne (2). Yellow Truck. . Yellow Truck pf. Youngs Spring (3) Zenith Radlo....... RIGHTS—EXPIRE. employes | B Cattle—Receipts, 500 head; moderate o P e e P T LT L t 011 (80c) & W (1) 8tl (g1.20).. Fisher (5) " hoi (2) U S Realty & Im (3). U S Rubber U S Rubber 1st pf. U S Steel (7) U S Steel pf (7)..... Unit Stores A....... Univ Leaf Tob (3) Univ Leaf T pf (8) Univ Ple 1st pf (8) Util P&L A (012.15 Vanadium Corp (3).. Va-Car Chem 6% pf. Va Car Chem pf (7). Va El & Pow pf (6).. Va Iron Coal & Cok Vulcan Det (4).. Vulcan Det pt (7). 11508 17% 2 29% 266 140% 148% 38Y% 26% 250 63% 1 1 108 . 208 . 908 508 Sys (1%).. 4 z 127 q 1 ‘Webster Eis pf (7) El pf (6). EIpf (7). Pow pf (7). Dairy A (4) Dairy B.... Ma... Union (8) AB(2).. EI&Mfg (4). &M pf (4). 608 108 White Sew Mach pf.. Wileox Oil & Gas. Willys-Overland. Wilson & Co pt. Woolworth (2.40). Worthington Pump.. Worth Pump A (7)., (Wm) (4).. b 2 81 108 £ 2 Ed..Apr20 13 2% 2y 2% Sales of Stocks on New York Exchange. 800,000 12:00 Noon, 700 000 1 100,000 re the lnl’mll cnh l( l the atest auurter] f early Jess thin 1 fis is 9 it 055 stk b 4 7; 10 stock. ‘m Pata“this rear—na ree Sheep and lambs—Receipts, 1,000 head; moderate supply, l’nlrket. steady; sheep, 1.40a4.00; lambs, 0.25. Hogl—Recelpfl 4,000 held modente supply, market higher; lights, 8. l heavies, 7.75a8.45; medium, 8 10; roughs, 5.25a7.00; light plfi, 8. 25-‘ 50; pigs, 8.50a8.80. Calves—Receipts, 500 head; light sup- ply, market higher; calves, 5.00210.00. Hay and Grain, red Winter, export, No. 2, red Winter, nrucky, spot, April, 83%; May, 845%. Corn—No. 2, domestic, yellow, old, 75876; cob corn, new, 4.00a4.25. Oats—White, No. 2, new, 40';adl; No. 3, 39,840, Rye—Nearby, 55a60. Hay—Receipts, none. General hay market is quiet. Receipts ample, but no surplus offered of heavy -clover | mixed. ~Such types bring a premfum of 1.00a3.00 per ton, depending on the amount of clover. Fair to good timothy ranges from 24.00a26.00 per ton. Straw—Wheat straw, No. 1, per ton, 10.00a11.00; oat straw, No. 1, per ton, 11.00812.00. NEW YORK BANK STOCKS NEW YORK, April 6 (#).—Over-the- counter market: BANKS. Bid. Asked. America 55 " a8 nk of U8 Uiiits.. cnn Phenix.. Fiftn Avene First Nationai ' ¥ Harriman . Manhattan Co... ] People’s National. TRUST COMPANIES, Banca Comm Ital Motors’ report gives a record of the | Cou ur Unlied Btates Westchester Title' & Tr. SBOBT-TE’RM SECURITIES. (Reported by J. & W. Sellgman, & Co) Allis-Ch 9T 1014 t_Corp. 4las 19 1l Tel. of Canada 55 1957 Galifornia Pei. Corp. 418 1938 Canadian_ No; y! 4%is 1935 Chicago Rock: Island PR Ghile Copoer Co. 35 1947 Gen. Mot Accep. General Beiroienin Corp. o5 Genetal Theaters Equip. s Goodyear T. & R. Onnd ’l‘ru?kpu! Ganada 19: Stimbie Of 135 1933 Internat. Match Cory - Jersey 8 | York 4%as L. Southwestern Ry. 4s 193 105 1030 CHECK TOTAL GAINS. Checks cashed on individual bank accounts in 266 leading citles of the Pederal Reserve system during the week ended April 1 were 14 per cent higher than the previous weck. The aggre- gates, for comparable periods, as cal- culated by the Reserve Board, follow: Week ended April 1 - 313,018,336 000 Previous week Bame week I 12700857000 Night fishing for sardines is to be D. C. MONDAY, ) APRIL 6, 1931. FOREIGN BOND LIST | Cox v o BONDS |5 UNDER PRESSURE South American Issues Par-; ticularly Weak as Offer- ings Increase. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, April 6.—The feature of bond trading today was renewed weakness in the South American group of dollar bonds, especially those of Brazil, its states and citles. Some of the selling was traceable to London, where interest payment on a City of Rio de Janeiro issue was re- cently deferred. It is pointed out that heavy interest payments on the bonds of the Brazillan government, of the City of Rio de Janeiro, the City of Sao Paulo and the state of Sao Paulo and Rio Grande Do Sul are due in this market during the next 60 days. Some doubts as to the ability of these gov- ernments to pay all the interest were reflected in today's price declines. Brazil 6!3s were off over a point. Brazil 8s declined 2 points. Rio de Janeiro 8s dropped a point. Sao Paulo 6s were off several points, and there ‘were comparable declines in all Rio Grande Do Sul and Sao Paulo state bonds. Elsewhere heavy liquidation depressed Pernambuco 7s, Minas Ge- raes 614s, Colombia 6s. Chile Mortgage Bank 63s, Cundin'Marca 6,5 and Antioquia 7s. Heaviness was noted in the balance of the foreign list, but declines were held to sma]l proportions. German government 5)5s, Reparations 7s, Ger- man municipals and Austrian bonds were the most active losers. Premier Lang of New South Wales injected fresh pessimism into the outlook for New South Wales bonds in particular and Australian bonds in general with his new proposal for a Soviet govern- ment. The domestic bond list was quiet, with few price changes of significance. The prime group was generally firm, includ- ing American Smelting & Reflnln[ 58, American Telephone 5s and 558, At- chison General 4s, Brooklyn-Manhattan Transit 6s, Canadian Pacific 4s, Colum- bia Gas & Electric 5s, Great Northern 7s, National Dairy 5&.5 New York Cen- tral 4'.s, North American Co. 5s, Pennsylvania 44s, Philadelphia Co. 5s, Southern Pacific 41¢s, Standard Oil of New Jersey 5s, Standard Ofl of New York 4l4s, Ul Power & Light 5s, Wheeling Steel 4155 and Youngstown Sheet & Tube 5s. Early strength in stocks was reflected in bonds with convertible or stock option features. The same influence was responsible for advances in junior issues such as Erie 5s of both 1967 and 1975; International Paper 5s, Phillips Petroleum 514s, Southern Rallway Gen- eral 4s, Goodrich 6!.s, International Match Debenture 5s and Dod(e Bros. 6s. Washington Stock Exchange SALES. Capital Tzaction Co.—2 at 3315, National Mtge. & Inv. pfd.—100 at 4%, 100 at 475, 300 at 4 . The Carpel Corp.—2! 2315, AFTER CALL. Washington Gas 6s “A”—$100 at 1017, Mergenthaler Linotype—10 at 83Y;. Potomac Electric 51 1d.—5 at 11014, Washington Gas 6s “A"—$500 at 1013, ,$1,000 at 102, $1,000 at 1027, Nolrgglk & Washington Steamboat—3 at Potomac Electric 6% pfd —2 at 112 Capital Traction—s at 443.. 10 at 3 a Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Tel. 448 '3 el & T 4l Ir. 8 Andcostia & 5 Iy TEE Cavital Traction &, City & Suburban 55.. Georsetown Gas st 6. Series B VA ey % Elec. 45 Barber & Ross, Inc.. 6'4s. Chevy Chase Club 3'as Golumbla Country i §as DS, Paper Mg, old Btorage 5 Waihineton Gohs. STOCKS. PUBLIC UTILITY. Amer. Tel. & Tel. (9) Gapital Tiaction Co h. & El com. (7). Wash. Ry, ™5 Bf (3) NATIONAL BANK., | “(stamped) (10) © 20; ‘ed.-Amer. Natl. Bi. & Tr. (2} Liberty (74)..... =l Lincoln (12) Metropolitan Riggs (15s) Second (ge Washington (13) TRUST COMPANY. Amer. Security & Trust Co. (13)°335 Continental Trust (6) 115 Natl. Savings & Trust aa Erince Georges Bk. & Tr. Union Trust (8 Wash. Lown & Trist (id: BAVINGS BANK. Bank of Bethesda (61) o c Security Sav. & Gom. Bk, (17) . Seventh Street (12) United States (30) | Washington Mecha TITLE INSURANCE. Columbia (6h) Real Estate (6h). mscuumzoua Barber & Ross. Inc., co; Meaxc-l Bldg car 0 Meruenthaier Linotype (6 tl & Inv. pfd. (8) rug Stores, hrop com. Woodward & Lothrop pfd. (1) *Ex dividend. a7 elia% extr MARYLAND TOBACCO ?PBICES. les. High. Low. 2:30. UNITED STATIL (Sales are in $1.000.) Sales. High. Low. Close. Lib 31 s 32-47,. 24 10125 101 25 10126 L1st4%s32-47. 3 10226 102 24 10224 L4th4l,s33.38 66 108 27 103 22 103 25 US3%s40-4: 1 10110 10110 10110, US3%s41-43.. 1 10110 10110 10 110 UB3%a4s-47.. 2 10116 10116 101 16 7S 3%s46-56. 1 10516 105 16 105 16 U S48 44-54, 1 107 16 107 16 107 16 US4%s47-62.. 111128 11128 11128 Sales. High. Low. Close. ADbItIDI P & P 5 Allegheny bs. Allis-Chalm Am Chain 6: Am S&R 1at 5-'41. Am Sug Ref 61°'37.. 2 9 2 Argentine 6 B ‘68, Arm & Co 4%5°39. Arm Del 6348 °43... Atchison gen 4595 Atchiscv d%s 41, AtCL 4% At Ref deb 58 37 Australia 6s '55. Australfa 6s 57.... B&O 4848 B & O Swdy 68750, Bk of Chile 6143 ‘57 Bk of Chile 6% s 61 Batav Pet 414842, Belgium 6» ‘65 Belgium 6%s 49, Belgium 78 ‘55 Belgium 7s 4| Cuba RRrf 7%s°36 A Bell Tel Pa b8 B *4; Bell Tel Pa 63 C 60 NONB = aNBO= D SRR A 3. Bklyn Man 6s 68. Bklyn Un Ist 6850 Buft Gen El 414881 Can Nat 4% s°65... Can Nat §8°70....., Can Nat 58 Oct 69, Can Pac deb 48 n Pac 448 Can Pac bs ctfs "44. Can Pac 58 '54. Car Clin & O 68 ‘62, Cent Pac 48'49 Cent Pac 5860 Cert-td deb 53 Ches Corp bs *47, C&O4%SA'93. C&O4%nB'95 CB&Qgen 4368 C B&Q Uldv 4n°49.) “hi & Ea; (.Mll\wmnuu\ ChiRI&Prf 48’34 Chi R Icv 4%s 60, Chi RI&Pac 4%s'52 Chi Un Sta 4%s "63. C& W Ind cv 48°62. C& W Ind 5%s"62. Chil Chil Chile Cop db 1] Clev Term 68 '73 Clev Term 5% * Colombia 6s ‘61 Oct Colo & Sou 4%s " IB Col G&E bs M 103% 0% 1067 82 94% Con G N Y 5%s ‘45, Con Pwr Jap 6% Con Pow Japan 7 Copenhag 4348 '53. Cuba 6%8°45...... Cuba RR 6s ctf ‘36. Cuba Nor 5% Czecho 98 '52 Del & Hud rf 42.. e = CNEE N A R BN R - o Sne 100% 100% 104% 104 102 102 101% 1017 101% 101% 102 102% 105% 105% 89% 89y, 0% 70% 2% 2% 2% 2% 8344 834 92y 921 Duquesne 434 s Dutch East L Mar.. Dutch East I Nov._. . Finland 5%s ' Finland 6s '45 Finland 6% Finland 7s ‘60 Fla E Coast b: Fram 1D 7%s 42 French 7s°49. French Gvt 73%4s "1, 11 Gelsenk'chen Gen Motors Gen St Cas 6%s Gen Th Eq 6s"40. German § 5 German Bk German 614 German Goodrich cv Grt Nor gn 5% '62. Grt Nor gen 7, i { Green Bay deb B. .. Hait1 63 5. Hud & M rf 58 ‘57 Humble O11 55 '37 Hum O&R 6%s 62. I BT 1stpf6s 4 111 Cent 48 53 102% i 106% 88% 87 89% Int Rap Tr s 2. Int Cement 68 "48. Int Hydro El Int & Gr Nor b "5 Int & Gr Nor 63 '52. Int& G Nad6s'52. BALTIMORE, April 6 clal) . — The market for Maryland leaf tobacco continues active, with receipts of 177 hogsheads and sales of 257 hogsheads last week, leaving a stock ln suu lo- bacco warehouses of 5929 Although the better grades o! el( m- bacco are selling higher, common grades have shown a decline. Quotations today for Maryland leaf tobacco per 100 pounds: Inferior, 6.00a 10.00; sound, comman and greenish, 10.00 222.00; common, 22.50a32.00; medium, 32.50a40.00; good to fine red, 40.50a53.00; fancy, 53,5085 L00; seconds, common to good, 10.00825.00; ‘medium, 25.50a35.00; good to fine red, 35.50a 43.50; upper country burley, 7.00240.00; ground leaves, nominal. —_—— More than 40,000,000 linen handker- int Match 6847 Int M Co 5sret “41.. Int Pap 68'56...... Iat T&T cv 4% Int T & T 58'65 Italy 78 '61. Italy Pub 8v Japanese 5% s Japanese 6% s ‘54 KRCP&L4Y% 51 KanG& B 4% Kan City Ter 4 Karstadt 6s°43. Kend 51848 w Kreug & Toll bs Lackaw St 5s ‘60, Lac G St L bs '34... 5 ueloa-bn-c-n.. Lake Shor Lautaro Nit 6315 9% ¢ 104% « 103 shipped from the United Leh Valcv 4s 2003, i started in Portugal, and will continue chiefs were ppe ql | Lahy o¥ 4368 2000 J .| the zest of the jear, . lngy year, 90% | poland 6s 40, FINANCIAL. STOCK EXCHANGE Wire Direct to The Star Office Sales. High. Low. Close. Lllluyorl'l 44, 5 121% 121% 121% exwar... 4 97 96% 97 Lorllhral 51 91 90% 91 bnrm.:::u-'n 95% 95 95% ‘. m 1 Lou G & El bs '53. 106% 106% L & N uni 4340 .. 98% 98y L & N 4%s 200! 9 99 McKes & R 6%s°50 81 814 Manh Ry 1st 4 '90 62 s2¢ 45 45 9y 1047% 1047% 101% 1024 102% 103 89% 89y Mich Cen 4%s°79,, Midvale Sti 6s '3 Milan 6%m 62, S M StP&SSM 65 gtd. MSP&SSM 548 7 M StP&SSM 6% MK&T st 4s MK&Tprin Mo Pac gen 43 75 Mo Pac b8 r"n anSmmaans 4 o (TSR 1T VT TSy VEPTeY. -y Mobile-Ohio Mont Pow 6s ‘4 Mont P db 5s A Mont Tr 1st b Montevideo 6s 59, Montevideo 7s ‘62. Nat Dairy 6% s etherlands N Eng T 1st 6% 16% 104% 104% 103% 104% 101% 101% Ba% 84y 89% 891 101% 102 4 103% 104 110% 110% 601 60% 59 59 85 85 94 94 100 100 9! 99% 106 106 106% 107 865 86% 104% 104% 101% 101% 114% 114% 9% 99y 110 110 93 93 105% 105% 116% 116% 43 43 2% 2% 6% 6% 103% 103% 106% 106% 111% 111% 8415 85% 106% 106% 98 98% 103% 103% 107% 107% 68% 68% 96 96 12 10315 103% 100% 100% 102% 102% 105% J05% 0% T0% 107% 107% 943 94% 94% 9% 104% 104% 103 108 107% 107% 102 102 9% 94% 104 104% 106% 1061 103% 103% 854 89 96's 9614 101% 101% 96 96% 100% 100% 105 105 109% 109% 99 991 108'% 108% 91y 91% 94% 95 101 101 81 31 65 &5 102 102 8% TR 28 28 T 74 105 105 101 101 108% 109 70 70 0% B1% —a » 34 N Y Cent 4%5 2013.253 NYCreim 68 2013 s 12 NY O&W 1st 4893, 7 NY Rys Inc 6s '65. NY S&W 1st 683 N ¥ Tel 43839, T 47.. Nor Pac 38 2047. oe Nor Pac 4148 204 Orient dev Hn 5. Pac G & k1 68 '42 Pac T&T 1st bs Philippine RR Phillip Pet § 39 Plllsb F M 6s°43. .. PCC&SIL 4%8°77. PCC&StLSsA.. Poland 78°47. Porto Alegr Por RTam Pos Tel & C Pur. Ofl 5%! 3. Queenland 6s°47 Queenland 784 Reading 4%s B Rem Arms 65 A "37. Rem R 6%8 A "47 1 Rhine West 68 '52.. Rich Ol cal 6; Rio de Jan 634862, Rio de Jan 8s Rome 6%s°52 Roy D StL IM R&T 4s°33. StL&SFIn4sA BILLSI‘OHI'". StL&SK gen 5s ‘31. St L&SF prin 6s B, StLSWevdes'sz.. StLS W Ist 4889, San A& A P4s'43. Sao Pau 78 40 rct, Sao Paulo 85 '36 Sao Paulo 8 Ron - ® R PRI N 6% 6% 107% 107% 82% 82% 2% 2% 94 Seine 7842, Shell Un Ol b3 '47. Shinyetsu 6% . Sinclair Of1 6 S8inc O 7scvA SineCrO 6%s Sine P L 58 '42 SW Bell T 55 Sou Pac col 48 Sou Pac ret Sou Pac 4%s ‘68 SouPd%s ww Sou P&Or 4%s 17 Sou Ry gen 48 5 Sou Ry b » S 101% 101% 99 991 106% 106% % 81 2 109% 109% 1134 113% Swiss 5%s'46 Tenn E1 P 65 A "47 Ter As St L 48 ‘63 Tex Corp cv 6844 Tex & Pac 63 C 19 Third Av ref & 105'% 105% 107% 107% 93 93 100% 100% 9% 95% 98% 98% 2% 92% 95 95% 101 101 1004 100% 106% 1064 0% 70% ReorBwuind arox » Un Pac ¢ %8 '67. Unit Drug ev b: 112y | agal 8 ¥ l 1028.25; PRIGES FOR STEEL APPEAR UNCERTAIN Sellers of Sheets in Keen Competition for Business. Strips Rise Canceled. Speclal Dispatch to The Star. PITTSBURGH, April 6—As it is not expected that the output of steel will vary much from the present rate in the next few months, or until late in the year, increasing interest is being taken in prices. Wire mills marked up their asking prices $2 a ton last month. Other- wise products on which there were profits have been holding well, with some even in line for advances in realized prices, while products turned out at a loss have been merely hom their own, or have actually decl! as is the case with sheets. The ad- vance in wire so far has not had & crucial test, as the large and ch-e buyers still have deliveries coming to them on old engagements. The real { test will come when they have to give | new orders. Bars, plates and shapes were “sta- zl‘l‘l‘z:s' hearly in Deeemnb:l! at_ 1.60c urgh, the corres) ng district price being, 1 e e oh vance of $1 a ton to 1.65c and 1.75c, respectively, was announced to be ef- fective on January 1. For 1 there was a further rise in formal prices to 1.70c and 1.80c, respectively. The first upturn was not taken seri- ously, but with the second move holders of contracts at 1.60 cents, made tech- nically for the first quarter of the year, began to specify more freely. Accord- ing to custom, contracts for the second quarter would have been made at 1.68 cents, but it does not appear that many were let, and the trade at large does not regard the market, now lhlt April has been entered, as being above 1.65 cents, Chicago “Price Rise.” ‘The Chicago market, after having made its first price at 1.75 cents, re- verted to a range of 1.70 to 1.75 cents. In this lay the explanation of reports last month that the Pittsburgh mflh were about to advance $1 l#l the Chicago mills $2 a ton. e lat- urlhnd to make their first advance n. In plates and shapes, there is much more interest in the concessions made on specific lots of steel for large fabri= cated structural steel jobs than in the ordinary openly quoted market. Some persons have asked what the price was on the 125,000 tons for Radio City in New York. Last year concessions were not infrequently abnormally large, nnd one of the ambitions of the mills was to reduce these concessions to the usual proportions. There is no information as to their success. ‘The tonnage of plates and shapes that moves in this way is greater than the total of the small lots that conform to the openly quoted market. Counting out the steel for Radlo City and for the Pennsylvania Rallroad’s electrifica- tion plan, totaling a quarter-million tons, but lnvolvln( deliveries covering two or three years, the flow of fabri- cated structural steel contracts has been decidedly lighter in the last six or seven months than formerly. Resist Rise in Sheets. In the case of strips, a profitless com: modity, an attempt was made to ud- vance prices for second quarter of the year, but this was abandoned when resistance was cncountered. One ex- lanation given was that the move was tended really to preserve the old prices, since it would be less dim:ult w prevent the market from going t.hecoullnet.h.nwunuzvmw small amounts after it had slij It is admitted now that sel of sheets realize that there is in progress a test to see who shall survive, llt.hmh it was not invited by any producer class of producers. In l’ll and 1m— data for 1930 are not available yet—the United States Steel Corporation did not produce more than 25 per cent of the sheet made in the industry, whereas in both years it turned out 40 per cent of all the steel ingots. The Bethlehem Steel Corporation is only a small rny- ducer vof sheets. The Republic lul producers, Corporation and the Youngstown Sheet & Tube Co. are both g CHICAGO LIVE STOCK MARKET CHICAGO, Agfll :x(flmm:lg;uw States Department, ' of ). —Hogs, 42,000 head, including 20,000 direct; llnw mostly steady, with Friday's aver- jood to choice, 140-210 pounds, top, 8.25; 220-320 pounds, 7.2583.10; pigs, mostly 7.7588.10; pack~ ing sows, 6.50a6.85; light light, [ood and choice, 140-160 pcundz a8.25 weight, 160-200 por 8.10a8.2! dium weight, 200-250 nmmdl ’1!5!.25 heavy welght, 250-350 pounds, 7.10a 7.75; packing sows, medium and good, 275-500 pounds, 6.40a6.90; slaughter good and choice, 100-130 potnds, 7 75Il 25. c-mhneeelpu. 15,500 head; calves, 2,000; fed steers and ywnn'n steady to 25 lower; mostly steady to weak; trade very slow, hardly enough done to make a market; largely a steer run; kill- most fat steers of scarce, steady; vealers, steers, good an: pounds, 8.50a10.7. 8.50a10.75 pounds, 10,5 1,300-1,500 pfl\lnfl, 8. Mhlo 50; common and medium, 300 5.00a6.50; common and medium, 4.25a 5.25; low cutter and cutter, 3.25a4.50; bulls (yearlings excluded), good and choice (beef), 450a5.75; cutter to me- dium, 4.00a4.90; vealers (milk fed) cood and choice, 7.2589.25; medi 7.25; cull and common, stocker and feeder cattle, steers, and choice, 500-1,050 pounds, 7.2568.75; common and medium, 5.50a7.50, Sheep—Receipts, 20,000 head; fairly active to outsiders; mostly steady choice wooled lambs, 9.50 to shippers; clippers, 8.50a8.85; four loads California Springers unsold; fat ewes lclm. mostly 4.50a5.00; lambs, 90 roun down, good and choice, 8.8589.7 dium, 8.25a8.85; 91-100 pounds, me- 88% 88% 8844 E84 103 104 108% 103% 3 74 814 81 87% 8T% 106% 106% 75 75 Utll Pow 6% '47.a Vienna 6s ‘52 . Va Ry 1st 58 Walworth Wabash 4 %8 Warn Br Pic 63°39. Warn Quin 6s°39. Warsaw 78 ‘68 West El de Sh 1st 48 zul, West Md West Pac bs West Un Tel 58 '51. West Union bs West Un T 6% Wh & L E cv pf Wil-Ov 18t 6% Wil & Co 1st 68 °41. Wis Cen gn ¢ Yokohama 0 N OCWaGeERBaN R~ = B3] 56% 56% 100% 100% Wik 101% dium to choice, 8.0089.50; all weights, common, 7.00a8.25; ewes, 90-150 pounds, medium to choice, 3.7585.25; all weights, cull and common, 2.00a4.25. Lorillard Proxies Asked. NEW YORK, April 8 (#).—Benjamin L. Belt, president of P. has addressed a letter to stockholders asking for their proxies, to be voted in ratification of the election of directors . lmd officers at the recent regular meet- In, Rece'nuy & suit wn filed in Su) Court, Trenton, N. by minoril terests and supnma Court Campbell issued an order directing Mr. Belt and other officers to show cause on May 5 why the election should not be set ulda and a new m Theld. There was no vote on ers from passing upon the Boott & Stringteliow. of Richmond, Va., who oppose the phn. hlu ‘written stockholders asking for ‘They represent 11 ltoekholdcrl in Rich- mond. on the French Among the things left by passengers state railways rmnuy were a hive of bees, a . dida._ega ol mmnn"?--‘