Evening Star Newspaper, April 13, 1931, Page 15

ON BETTER BUYING! . Volume of Trading Rerains Small—Power Issues Higher. BY JOHN A. CRONE. Bpecial Dispatch to The Star, NEW YORK, April 13.—Breaking out of the mix>d trend that marked initial dealings, the Curb Exchange moved higher today, without, however, attract- ing a substantial volume of business. Betterment of the utilities in the Lon- don market improved many of the power and light issues, including Electric Bond & 8hare, Middle West Utilities, Citles Service and American Superpower. Disappoiniment was expressed by spoclalists and traders because Citics Service failed to do better marketwise after its good earning report for 1930. ‘Two notable exceptions to the generally better tone of int>rnational utliities dur- ing forencon cealings were Shawingan ‘Water & Power and International Su- perpower, both of which were down a point. Northwest Yeast, with an initial rise of 5 points, sc a new high for the year. Pilot Radio & Tube and Saxet Co. featured radio and natural gas shares, Tespectively, with a gain of a point each to their be vels for the year. ning cf the Detroit Air Show was used as an incentive for putting up many of the aviaticn securities. This movement was aided by favorable re- ports from the trade and furiher en- couraged by specific corporate develop- ments. Douglas Aircraft quickly moved ahead a point and Cord O tion improved more bzcause of aviation than of motor news about that company. President E. L. Cord, commenting on price reductions on Stinson Aircraft, said present productien did not warrant such quotations, but he believed the low- ered levels would attract buying and :hn??by reduce costs of manufacture per Gulf Oil suffered the widest decline in miscellaneous oils it the first several hours, while Humble, with a rise of 3, point enjoyed the best upward move in sh?l Standard Oils. Pipe lines remained ull. Ford Motor, Ltd., rights, which usual- ly were quoted at 1-32, their minimum Pprice, featured the motors in point of volume, though Cord Corporation and Stuts registered the best forward moves early in the session. Perfect Circle was up a small fraction in the accessory group. New York Cotton Epecial Dispatch the The Star. NEW YORK, April 13.—Cotton nrices were unchanged to 2 points low:r at the opening today. Seclling came from shorts reasserting their market posi- tions, but it was f2irly well absorbed by longs endeavoring to press Saturday’s advance. Trade buyers were again ac- tive in the market, with a fair demand, also from houses with British and Con- tinental connections. May 10.30, off Opening prices were: 2; July 10.55, unchanged; October 1087, off 1; December 11.09, off 1; Jlnlllf}. 11 19, off 1, and March 11. ‘0 unchang:d. NEW YORK BANK STOCKS NEW YORK, April 13 (#)—Over-the- counter market: BANKS. Bid. Asked 3 America . t Bk of U S e i Irving .. Manufacturers Unit te: W SILVER QUOTATIONS. le YORK, April 13 (#)—Bar sil- quiet and i lower at 28lg, mthy with the decline in London. t B £ TT o - - 56 1 Nat RE 15 138 nt smmmzc 55 '48 oresnsi Note—All stocks are sold in one hundred-share I0is . excepting those designated by the letter s 180;) (2508), which shows, those stocks were wld in odd I ~Prev. 1931 Stock ana High "Low Dividend Rate, 5% 4% Acetol Prod A. 54 45 Acoljan Copf (7). 11 6% Aero Underwriters. . 2214 11 Atfitated Prod 1.60.. 29 15 Aufa AGSCo......... 70 140% Aluminum Co of Am 3758 % 106% Alu Coof Am pf (6), 2814 Alum Ltd A war,.,. 26 Aluminum.L:d Bwar 83 Aluminum,Ltd Cwar. % Am Austin Car....J. 8% Am Br B fd shar: b AmCapital B. 834 Am Clt P&L (A)(a3) 5% Am Cit P&L B b10%. Am Com P A (b10%) Am Cyanamid B. ... Am For Pow war. Am Founders. ... Am Gas & Elec (1 Am Gas & EI pf (6). Am Invest Inc (B).. Am Laundry Ma (3). 5us Am LU& Trac «2%). 1 Am Maracaivo...... 21 Am St Pu Sve(al.60) Ar Supei pow (406). Am Supery 1st « Am Transformer. Am Ut&Gen cu pf(3) Am Util&Gen (B)vie Am Yvette new wi, , Anglo Chil Nitrate. . Appalachian Gai Apponaug Co (2), 4 Arcturus Rad Tube.. Arkans Nat Gas A, Armstrong Cork (1).250s Asso Gas & Electric. Asso Gas&El A (a2) Assoc G & El war Atl Secur Corp. Auto Voting Mach % Auto Vot M cv pi pt. Bahia Corp pt.... Beneficial 1 L (1%). Bigelow-Sanford. .. 4 Slue Ridge Corp Buft N & E P 1st Bulova cv pf (3%4).. Bunk Hill & Sul (3).. Cable Radio T vte. .. Can Hy El 1st pf (6). Canada Marconi. , Carib Syndicate Cent Pub SycA b10% Cent Stat El (b10%). Centrifug Pipe (60c) Chain Store Devel. .. Chat Ph-Aln.v (1).. Citles Service (g30c) 4 Citles Serv pf (6)... CitSYyP&L L (T).. Clev Tractor (80¢).. Clauds Neon Lits, Inc Coates (J & P) Lid. . Coiombla ndicate. Col Ol & Gas vie. ... Col Pict vte (f1%).. Cmwlth Edison (8 Cmwith & Sou war. . Com Wat Sv (b6%) . Consol Copper. . Consol Dairy Pr Consol Gas Balt . Cont §ha Cont Shar Cord Corp Cerp Sec Ch (b Cor& Revpt A (8).. % Cosden Oli...... Creole Petroleum. Cresson Consol (4c). Crocker Wheeler. ... i Cuban Cane pr opt w. Curtiss Wright war. Davenport Hos (2).. % Dayton Air & Eng Deere & Co (1.20),.. De Forest Radio. ... Derby Oil Retining. . Detroit Afrcraft Cp.. Douglas Air (11%).. Draper Corp (15). DressSRA (3%). Dresser Mfg B (2) Driver Harris new. . Dubilier Cond & Rad Dugquesne Gas Cp wi Durant Motors Durant Mot Can (40¢c Duval Tex Sul wi, .. East G & F Assoc, .. East 8t Pow B (1)... Elsler Electric Carp. Blec Bond & Sh (b6) Elec B & Sh of (6).. Elee Pow Assoe (1). Elec Pow Asso A (1) Elec P& Lt op % xr.. El Sharehold (b6% ). Bmp Corporation. . . Emp G & E cu of (7). Emp G & F cu pf (8). Empire Pub Sve (A). Engineers Gold. Europ Elec deb ri Evans Wallow Lead. Fairehild Aviation. . Federated Metals(1). Fischman & Sons. .. Food Machinery 1% . Ford Mot Ltd 36 3-5¢ Foremost Dairy Pr.. Foremost Dai pr pt.. Foremost Fabrics, .. Fox Theater C1 A. Gamewell Co pf (8). 100s Gen Aviation. Gen G&E cv pf B (6) Gen The Eq cv pf(3). Globe Underwriters. Golden Center. . Gold Seal Elec new.. Goldfield Consol. ... Goldman Sach T C Goth Knitback Mch. % Gramaphne rets(pl). GriA&PT L (7).. Grier $tores. ....... Groe Strs Prod vte. . Guif Oll of Pa (1%). [T S s wualkSd b aat S&'E & S u o o AN PR AR SRR NS AN PR ANHR =G uA RS A SR wme @ 2 - 508 (=N e [ Add 00, ¢ Opm e 1 ~Prev 1931 Hish Lew 2 1% 100% 100% 11% % Divi LaP& Low Close 5% B% Mangel Mapes Consol (1314) Marcon Mass U Mavis Bottling (A).. Mead Johnson (14) .. Memph Mesta Machine (2).. Met & Min Ine (1.20) Mid St Pet vic A. ... Mid W St Ut (1%).. Mid West Ut (b8%). Mid W Utcv pf xw 6 Mining Minne-Honey pt (6) Louisiana Lan & Ex. MacMarr Stores (1) Magdatena Synd. Received by Private Wire Direct to The Star Office tock ana end Rate. Sale: Ada 00, Open. mm. Low 4 1% 1% 1 5 103% Close. 1 103% 8% % 103% 8% [ 3, 40 874 45 Lt pf (6).. 103% 8% k] 34 41 8% an 4, 104 10 364 2% 3y 234 22% 100% 2% 91 Stores. 3la i Int Mar .367 1] Assoc. . N G Co (60c) Corp of Can. Mo Kan P L (b10% Mo Kan P L vte Moh H P 1st pf Mohawk Mining (1). m'l 20 Moss Gold Mines. Mounta in Prod (1).. 4 t Aviation.... t Bd &S Corp (1) Nat Family Stores. Nat Fuel Gas (1). Nat Pow & Lt pf (6). Nat Screen Sv (2) ., Nat S T Sec A (350¢ Nat Transit (1) Nat Union Radio. . New Eng Pow pf (6 New Mex & Ar Land. N Y Transit (1)..... N Y Tel pf (634)... Newmont Min (4)... ag-Hud Paw (40c) g-Hud Pow A w.. 4 Noranda Mines Nordon Corp Ltd Nor Am Aviat A war Nor Europ il Corn. 99 10 Nor Ind Pub S pf (6) 200s Nor St Pow pf (6) . . 208 Northw Yeast Co 12) 2308 12! s Novadel Parker Philipp Pitts & Pacific & Pub Ut 4 Safe Ca St Anth, Salt Cre Schulte Solar R 8 W Ga Sunray Swift & Unit Ch Unit Coi Unit For Unit Lt U 8 Da! Oh1o COpper........ PacG&E1stpf1%. Pac Pub Sve A(1.30), Pandem Ofl. . Tennroad Corp (20¢) Perryman Electric, Philip Morris Inc. .. Phoenix Secur Corp. Pilot Rad Tube A. Pines Winterfr (1 Pitts Forging (1) Polymet Mfg. . Premier Gold (12¢). 42 Producers Roy Corp. Prudence Co pf (7) Prudential Invest Prudentiai Inv pf(6) 400; Pub Util Hold war. . % Saxet Co. . 1Agene (4).. 1 18 4 28% 24% L] 91 614 3% 2 244 Rust Pr (3).. e (L) A +1.80., L Erie (5). - N PPPIOIOIG IO 49 17 12.;- 5 21 6 PubSve(new) Hold cu pf(3) Pub Util Hold Cp xw Puget Sd P&L of (6) Pure O11 pf (6). Radio Produets. .. Rafiroad Sh (50¢) Rainbow Lum Pr B Rayethon Mfg Ri 108 Rubberoid Co (4).... rH&L ()., ony Gold. ... St Regis Paper (1).. ek Pro(1.40). Un 5c-31 St.. Seaboard Util (50¢).. Secu Corp Gen (40¢). Seg Lock & H (50¢c). Seiberling Rubber. .. Selected Industries. Sle Ind prior (334)... Sentry Safety Cont.. Shawingan W (2%).. Shenandoah Corp. Shen Corp pf (a3) efining So Am Afr Lin South Penn Oil (1 So Cal Ed pf A South C Ed pt South C Edpt C 1% .. South Corp. SouthernNat Gas Southld Royalty 60c. (1 B1 s Utilitles., .. Stand Motors. . Stand Ofl of Ind (2).. % Stand Oil of Ky 1.60. Stand Oil, Ohlo (5).. % Stand Pwr & Lt (2).. 4 Stein Cosmetics..... Stutz Motor (new). . Stutz Motor (war). Oll (b-’-‘) .. Co (2). Swift Internat (3). Technicolor. Ine....: Teck Hughes (60¢).. Texon Oil&Land (1). Tish Realty & Con. Tobacco & All Stk: Tran Con Air Tran. Trans Lux DL P 8. Tri Utilities (31.20). % Tubize Cantillon (B) Ungerieider Fin Cp.. em pt pr (3). rp war unders. Unit Gas Corp. &Pwr A (1), Unit Lt& Pwr pf (6). Unit Profit Sharing. . ry (B)...... U 8 Elec Power ww U 8 Foil (B) (50¢). . SEEN WITHIN YEAR + | Bpecial Dispatch to The Star. ¢| existing snarl in the world markets. « | Steed. This means, of course, that there D. C, MONDAY, APRIL 13 END OF DEPRESSION; Swarthmore College Profes- sor Also Predicts Another Slump Within Ten Years. BY JOHN F. SINCLAIR. NEW YORK, April 13.—Prof. H. F. Fraser of Swarthmore College says “the present industrial depression will end | in about ancther year,” but another equally serious hard-times period will come within the next 10 years. He therefore advises the great industrial corporations of the country to work out an unemployment insurance policy to meet this recurring problem. | Today only 1 per cent of nearly 40,000,000 workers are insured against Juncmplo)ment by their employers. If : these employers do not find a way of providing effective insurance, the State will have to step in and make unem- pioymemt_insurance compulsory. Prof. Fraser chlmcwl‘hed the Brit- ish dole system “as a great social ex- periment,” but said that it involved major administrative difficulties. He thinks the United States will no'. over- come periodic depressions “until it adopts a more stabilized monetary unit.” There’s enough material for a book in that last sentence. Foreign Taxation. Who foots the bill for double taxation on American business abroad? Judging from the speeial report on this subjeet. recently issued by the Federal Taxation Committse of the Chamber of Com- merca of the United States, it seems that pretty nearly all Americans pay this. The tax imposed by foreign govern- ments on American business within their borders becomes a tremendous burden when these American firms nave to meet a second tax on income in their home country. This double taxation has become sueh a dead weight, espe- cially on exporters, that the Govern- ment for some years past has been com- pelled to grant them credit, which, for 1928, ageregated $34,000,000. Nnturally, this loss in revenue must be made up in general taxation, so I suppose one might almost say American citizens are indirectly paying taxes to those foreign governments. What'is the solution? The report of Ahe Chamber of Commerce urges the Government to arrange conferences with the foreign governments abroad and hints that agreements might be made similar to those already in force between several European countries whereby double taxation is reduced to a mini- mum. This would remove what is widely regarded as an unfair discrim- inatfon against American business abroad. Sinc: the United States is the ranking nation in volume of interna- tional trade, the removal of such ob- stacles to its natural flow cannot fail to | do some good in helping to untangle the Fast Air Service. It is now possible to pack your paja- mas and tocthbrush Monday morning in New York and unpack them in San Prancisco or Los Angeles Tuesday after- noen by using the newly inaugurated transcontinental all-air service for your is a steady schedule of both day and night flying, but lest any one be deter- red by fear to travel at night it may be added that the route of the planes is probably the safest long-distance fly- ing lane in the world. In fact, it is the only one where night flying is used be- tween such widely separated terminals. Here are the factors that make it so safe. It is the world's best lighted air- way. The sum of $1,000,000 was spent by the Government to mark the ground path of this route with beacons and illuminated emergency landing fields. It is studded with weather-reporting sta- tions—meore than any other existing line, It is the longest radiophone- equipped plane service. At no time are the ships out of radio communication 331 student at the University of Michigan ror a year. Who's Who in America sums _up the brlllhm career of this New York lawyer thus: “Admitted to the bar 1892, began practice in Milwaukee, Wu to C Chicago in 1895, and laf ork. The summary is too short! For his spectacular success, both in the field of law and business, is one of the most dazzling in American history. Cermak on Jol Mayor Anton Cermak of Chicago works fast. He dropped 2,200 city em- ployes his first day in office and 800 the second—3,000 in '48 hours—and he sus- pended the salaries of 3,000 others pending investigation. “It's a bad time to fire people from the pay rolls,” commented one Chi- cagoan. “But we have a vast problem of taxation on ‘our hands, and city overheads must come down.” J¢ M. Pratt, executive director of the Association of Real Estate Taxpay- ers, who says that Cook County resi- dents (which includes Chicago) have a tax bill for 1931 of $548,648,000, points out that Chicago has no uniformity in treatment “as between one type of wealth, real ectate, e@d other types of taxable wealth, tangible and intangible property.” Mr. Pratt says there’s not even a pretense to assess property on the basis of uniformity in these two classes of property—real and personal. So Mayor Cermak is faced with the problem of reassessment “if bankruptcy is to be averted and normal functioning of gov- ernment is to be assured,” says Mr. Pratt. ‘Taxes are pressing down hard on many cities right now, but the Chicago situation seems to be worse than many others. Real estate cannot be made to carry the entire tax load. Chluzoli history shows that the higher the tax | on real estate, the greater the delin- quency. “The tax problem remains to be |solved. Apparently there’s nothing to do, but to nullify the 1929 assessment, land fund the debt,” concludes Mr. Pratt. Cotten Exports. The descending graph of American cotton exports finds its counterpart in the continued depression of the Cotton Exchange, where prices are down to record lows, Last week's brief spurt soon got out of breath and collapsed. ‘The great influx of Soviet cotton has complicated the export jam. Soviet cotton has rocketed from 7,000 bales last year to over 151,000 bales this sea- son. It is underselling the American staple a cent a pound on the Liverpool and Manchester markets, where most of the Soviet cotton exports are laid down. This may puzzle American cotton farm- ers for whom Russia was, until re- cently, one of their best fareign cus- tomers. What is the explanation? The answer is twofold. When the Soviet Republic completed her new 1,457~ mile Turksib Railway last year she linked the Siberian wheat fields with the cotton country in Turkestan. This made it passible to do away with wheat raising in the latter area for local con- sumption and go in for wholesale culti- | vation of cotton. The second factor is | the famous five-year plan, which ealls for a tremendous expansion in cotton acreage by 1933. This is now under way, and it explains the sharp upcurve in her exports. The low selling price may be attributed to low production costs, and the determination to sell regard- less of the market, in order to. balance Russian imports of machinery and ma- chine tools, These are the facts which the Ameri- can cotton farmer must face: Russia has turned from a good customer into a strong competitor. American reduc- tion of cotton acreage has been almost wholly unsatisfactory. Home consump- tion of cotton is declining. Right now it looks as though the American cotton farmer is face to face with a decade of hard thinking. Short-term Notes, Uncle Sam's latest addition to his indebtedness—the issuance of short- term notes for §275,000, nno—.u a chilly inder that the United States 15 still ng ting the war nmn:hlly! The Treasury was clubbed into putting out the certificates by passage of the vet- erans’ loan bill during the last session of Congress. Regardless of the wisdom of this action the cold fact remains— pensions—no special loans from the Treasury. The national floating debt, which rang the bell at about u,ooo,ooo‘m after the war in 1919, was reduced to around $483,000,000 in 1926. After that time it began swooping upward again, with successive issues of short-term notes by the Federal Trasury to cover war-time commitments falling due. Al- though it is true that this taut finan- cial condition of the Government can probably be greatly eased by conversion of a large part of the debt into long- term issues, the United States cannot CHECK TOTAL DECLINES. By the Associated Press. Checks cashed on individual bank ac- dodge the fact that it pays as much, for | compared the late argument overseas, only it is spread over a longer time. Unfortunately, those who will inherit much of this debt will be, in the mass, unaware of its cause, just as there is a great part of the public today practi- Organized 1879 JOHN JOY EDSON, President courteous attention. TP measured by the Federal Reserve Board follow: Week ended April 8. $10,064,501 2,072,210,000 Previous week. Eqmtable Co-Operatwe Bldg Ass'n 51st YEAR COMPLETED WALTER S. PRATT, Jr, Secretary Subscription for the 100th Issue of Stock Being Received Do You Desire a Loan —on Real E!tate or to Take Up First Mortgage? THOSF desiring money to purchase a home, re- finance present indebtedness or m\provu property should consult us. Applications will receive prompt and Loans Repayable Monthly o Brokerage . No Commissions 915 F ST offering three important investment features in one security DIVERSIFICATION—Ten utility companies, three powerful oil companies, four great rail- roads, twenty-three industrial companies. MARKETABILITY—AIl underlying stocks are listed on the New York Stock Exchange or the New York Curb Exchange. SECURITY—, years. Av rage age of companies is 30 Consecutive annual dividends have been paid over an average period of 21 years. Fundamental Group Corporation 40 Wall Street FUNDAMENTAL New York Ci!y TRUST SHARES Distributed by WAGGAMAN, BRAWNER & CO., INC. CRANE, PARRIS & CO. FUNDAMENTAL W. W. MACKALL, JR. TRUST SHARES A FIXED INVESTMENT TRUST SPONSORED by . E. A. PIERCE & CO. Members New York Steck Exchange Transportation Bldg, 17th & Home Office: 40 ‘ with land stations. The companies who operate it have had five years’' experi- emse1 in large-scale commercial flying service. This new route increases America's lead in air transport and indicats that its leaders are planning big things for its future development. Price of Silver. Silver will not increase much in price until a revival in world trade takes place. ‘This is the conclusion of A. Iselin & Co. of New York, who have given considerable study to this subject. ke bankers hold that the base of the trouble lies in an uneconomic rela- tionship between the production of and the demand for the white metal. “The proposal to make China a silver loan with the object of revitalizing her buying power and thereby helping Chi- nese-American trade is not convincing,” says this report. *“As for stabilizing or strengthening silver, desirable as that objective may be, the placing of a large quantity of new silver in China, pre- sumably from stoc! in the United (S(aw.‘) Treasury, could only be expected to deflate still further the world price." ‘This firm says further that it does not believe that any remedial action by the government of India alone would be permanently helpful. It would not reach the heart of the matter. “In theory, international co-operative action which would regulate the time and flow of all government buying and ‘bonuses—no H Sts. N.W., W lhmnton. D. C. Wall St., . Y. City 15% Faster than the Industry roPERTIES Of the Associated Gas and Electric System prod of 14.3% more electricity each month in 1930 than the same properties at the beginning of 1928. This 12.4% more for the Uni luced an average compared with ited States as a MANAGEMENT—The New Business Departmentsof Associated propertics have vigorously concentrated their sales efforts on appliances that produce comfort and savelabor. .. refrigerators, radios, ranges, water heaters, lamps , . . 23% more of U 8 & Inl Secur Init Stores. Unit Verde E: Util P&Lt(at1.02%). Ut P&L B(at1.02%). 5% Util & Ind. Util & Ind pf (1%).. 1.} selling (of silver) would seem helpful, 214 | but whether such action is practicable 2% | seems open to doubt.” These bankers think that only a re- vival in world trade will improve the price of silver, Hamilton Gas rets. Happiness Candy . Hudson Bay M &S .. Humble Ol (12%).. Hygrade Food Prod. Imp Ol of Can ¢50¢) Ind Ter Illu Ol A... whole . . . a growth 15%, faster. these appliances were sold in 1930 than the year before. Low energy rates have been established J wh Ed 4758 D ‘57 d-hy B 528 97, 1 t Int Brd Two factors accounted for this. .. Opportunity and Management ._......mu-_”_!._-.-..m. R oo anamsunalacannmn S rel Tnc 85, 48 fass b n,!........_..::__.,z,.- aSaaze Sgesiasepeeieaiaitanione: F B SNedees & E 233828 & Insull Inv (b6%) . Ins Co ofNo Am 12 Intercontinent Petn int Petroleum (1) int Superp (+1.10) int Utilities B. . Interstate Equities. . Interst Hose Mills iron Cap Copper trving Air Chute (1) [1alian Suverpow A. Jonas & N cum pf... Kirby Petroleum. Klein (D £) Co (1).. Kolster-Br (Am Sh). Lackawanna Sec (4) Lily Tulip Cup (1%) Lion Ol & Refining. . Lone Star Gas n 85c. Loug lsland Lt (60¢) s 1 GRS 1 1 B e 00 G B T 88 0 5 1945 e Walker & Wayn 33 *Ex dividend. 2 20 in cash or stock Y 5% 19% 34% per cent in stock 34% Ford Mot Ltd.Apr 17 446 Dividends rates in dollars based on last gquarterly or 1Partly extra. b Payable {Plus 6 per cent In stock. 1Plus 2 per cent in_stock. m Plus 3 per cent in stock, n Plus 8 per cent In stock. © Paid last year—no regular rate Utility Equities, Vacuum (4). . Vie Finan Corp40c) Walgreen Co. (H) (1 Pump. West Alr Exp Woodley Petroleum.. Zonite Produets (1). 34 RIGHTS—EXPIRE * & semi $Plus 4 per cent in stock. & Payable in stock. e Adjustment dividend. & Plus 6 per cent in stock. h Plus 1 in stock. k& Plus 10 per cent Washington Produce Butter — One-pound prints, 34a35; tub, 3275a33%%. Eggs—Hennery, ceipts, 19a20. Poultry, alive—Turkeys, young toms and bhens, 32a33; old toms, 28; Spring broilers, 37a40; Winter chickens, 30a33; hens, heavy, 24a25; light, 22a23; Leg- horn hens, 20; roosters, 12al4; ducks, 15; keats, young, 75a80; old, 40. Dressed turkeys, young, 38a40; old, 34ad5; broilers, 45; Winter chickens, ; hens, heavy, 27a28; light, 25a26; Leghorn hens, zx-u romun, 15a16; keats, young, 80a90; 50. Meats—Beef, llhlls'/g, veal, 14a16; hmb 19; pork loins, 19a21: fresh hams, | fresh shoulders, 14; smoked hams, 2 smoked shoulders, 12; strip bacon, 21; lard, in bulk, 11; in packages, 12. F.uits—S, rawberri Florida, 3.5024.2: ifornia, 3.50a4.26; lemons, 4.50a5.00; limes, per 100, 1.95a 2.00; lefl!l perhulhgl 1.00a2.00; - box . pears, 4.0024.50; grape- honeydews, 2.50; rhu- barb, hot house, Rr box, 1.00; grapes, -m“fl 21a22; current re- | | | 7 23a40; aranges, Michigan, 120-pound sacks, 2.75; Idaho bakers, 2.75; new, Florida, per barrel, 8.00a8.50; sweets, per hubhtl 1.25a1.50; tomatoes, 6-pan containers, Mexico, 4.50a5.50; Florida,3.00a5.00; spinach, 75; kale, 75; turnip salad, 75; cress, 1.00; broccoli, 6.00; ° lettuce, Iceberg, 1.50a 3.50; North Carolina, 1.00a2.00; peppers, 4.00a5.50; cucumbers, hot house, 831’ dozzi .50; string beans, 2.50a4.00; beets, per crate, 2.50a2.75; carrots, per crate, 2.50a2.75; caulifiower, 1.75a2.00; cabbage, new, per hamper, 1.00a1.35; asparagus, 3.00a4.00; Summer squash, 3.00a3.50; celery, 3.25a3.75; parsnips, 1.00; turnips, per crate, 2.25; peas, Mexi- can, 4.00; California, 5.00; m ooms, 60a90. CHICAGO LIVE STOCK MARKET CHICAGO, April 13 () (United 8tates Department of Agriculture).—Hogs, re- ceipts, 42,000 head, including 16,000 di- rect; mostly 10a20 lower than Friday average; bulk, 140-210 pounds, 7.65a a top, 7.95; 220-230 pounds, 6.35a qfl igs. 7.28a7.95; packing sows, 6.15a 050 light light, gocd and choice, 140a lBl) poundl, .65a7.95; light weight, 160- ;oun 0a7.90; medium weight, 200- pounm, 7.25a7.85; hea we:gm 'oodu 1:;: g?m pvundx 600- o60; -humm— v;- and choice, Cattle, receipts, 25,000 head; calves, 4,000 head: fed steer and yearling trade |in badly glutted condition; market al- most at standstill; few early sales being mostly 50 lower; larger steer and year- ling run with prospective top on choice steers around 10.00 and bulk at 7.00a 8.50; low-priced cows active and steady; fat cows 25 or more lower; slaughter cattle and vealers—Steers, good and choice, 600-900 pounds, 8.00a10.00; 900~ 1,100 'pounds, 8.00a10.00; 1,100-1,300 unds, 8.00a10.06; 1,300-1,500 pounds, 00ll0. ; common and medium, 6.00- unfll 5.5028.00. He [nnd and choice, 550-850 5028.50; common and medium, 5.50a7.00; cows, good and cholce 5.00a 6.25; common and medium, 4.50a5.25; low cutter and cutter, 3.25a4.50; bulls (yearlings - excluded), good and choice (beef), 4.5085.75; cutter to medium, | 4.0084.85; vealers (milk fed), good and chrcice, 7.0028.00; medium, 5.50a7.00; { cull and common, 4.00a6. Sl.ocker and feeder cattle—Steers, good and | cholce, 500-1,050 pounds, 7.00a8.25; | common and medium, 5.25a7.00. Reduction in Carrying Charge. NEW YORK, April 13 (#)—EfTective May 1 meNlumlmnntCo 'mn- dt its line e 10 & cent arude oy Airmail Service. Air passenger service in connection with the airmal service has been a dis- appointment! When the United States Government, through the Post Office - Department, subsidized the airlines, it was understood this would only be for a short time, and it was believed that the growth of the passenger service would make the seheme self-supporting within a few years. But it hasn't work- ed out that way. W. Irving Glover, Second Assistant Postmaster General in charge of airmail, has issued a warning in the current number of Aviation, saying that from the Government standpoint the whole business is still on trial. “We are. prepared to continue this trial for a couple of years more,” writes Mr. Glover. “If we do not then con- sider that it has justified itself, we shall go back to the airmail as a separate undertaking, served by fast open-cock- pit planes, ®ithout thought of passenger accommodation, and paid for only at a rate which will cover the actual ex- penses of operating—a rate considerably lower than now in farce.” Improvements are being made con- |stantly in passenger service. The re- cent announcement that at least two lines will begin this Summer bears this out. These new lines will include a regular passenger scrvice on a 31-hour schedule from New York to the coast, and a 28-hour schedule from the Pacific to the Atlantic. , Sugar Price Agreement. ‘Thomas L. Chadbourne has won his battle for the world control of sugar. What a long, hard struggle it was—re-~ quiring the utmest in patience, persist- ence and intelligence. Last week, in Paris, an agreement was reached at the world sugar conference, govidmg that when the price of sugar as reached 2 cents a pound f.o.b. Cuba, the export quota will be increased | by 5 per cent. In other words, should such a condition arise, about 225,000 additional tons of sugar from the seven signatory countries can be exported. So the world sugar production five- year program, largely conceived by Mr. Chadbourne, is close to re: . Ivs & m for this Amulun lawyer, ‘was born at Houghe N%‘lflfl He e & OPPORTUNITY—The use of electricity per family in areas serves System propertics has been less than for the country as a whole, while at the same time, the buying power has been fully up to the average States. Census figures show that the per capita value of manufa and agricultural products in counties in which Associated Systcm at least half of the’ population is $685, compared with $631 in the United States having d by Associated of the United ctured, mining, properties serve all couaties in throughout practically all properties of the System, making possible full usc of electricity and gas at moderate cost. These rates, plus a buying power that is above average, should result in a continued wider use of electricity and gas in As- sociated counties. 290 New Industries Output gain has been aided by the As- sociated System policy of co-operating with civic and business organizations in developing and attracting new industry to Associated territory. During 1929 and electric service. No adjustment for seasonal variation 1930 there were 290 new manufac- turing concerns established in Asso- ciated areas . . . 515 scrved by the System expanded their facilitics. Rapidly increasing use of electric- ity and gas means larger and more stable earnings for the holders of Associated sccurities. The number of registered holders is larger than fot any other gas and elegtric compmy Nearly half of them are customers and employees of the System. To invest or for information inquire of your security dealer, or address Associated Gas 61 B Electric System dway New York City