Evening Star Newspaper, April 21, 1931, Page 15

..D. O, TUESDAY, APRIL 2 FINANCIAL, ®*x¥ A_18° — A e e —————— PRIGES IRREGULAR | [NEW YORK CURB MARKET sz | PRODUCE ADVANCES][comeamaion| IEREEZING SEEN AID STRONGER WHEAT R e o T i rw— 10 CITRUS GROWER| MARKET IS NOTED IN APRIL DECLINE] | ecos 5ormosecs v % % |Eggs, Butter, Potatoes and| NEW YORK, April 21—he follow-|New Process of Hauling Fruit | Sentiment Favors Long Side % LEADING ORGANIZATIONS. Divl::.:l I:u. H . Y 5% ™% ing is a summary of important corpo- %| Most Vegetables Slip Since | o, prepared by the Standard| Jice May Meet Mar- Pending Weather Changes. keting Problem. Export Demand Factor. 40% Statistics Co., Inc., New York, for the H 15th of Month. Associated Press: News Trend. 93 Automobile mumm, :au;unmd 34% | Many of the price advances made early | by the Times x, adjus or sea- BY J. C. ROYLE. BY FRANK 1. WELLER, for th %|in the April or before that time were |54l trenc, ;’;‘g}‘;’.‘;‘m:"‘,‘:{ beo| Oitrus fruit growers, who have al- Associated Press Farm Editor. 134 | slipping away soon after the middle of | fore, For this week the figure stood | ways dreaded cold and sought locations | There suddenly is & better undertone 34 | the montn. Part of the weakness was |at 721, against 70.3, but was still much | pejoy the “frost line,” may find their |in the wheat market. 2% Tesu - | below 86.4, recorded for the same week 2 tu!::'n or l:hffn\sgv“n ‘wg‘if:;:.l::oa:h’tr?g::r of 1930. neforu of new passenger car | future presperity predicated on sub-| For one reason the trade has begun 1 20 |prices for eggs, butter, potatoes and |registration in 32 States for March in- |freezing temperatures. Reports to the | to realize that the 1931 crop has a long 20% | most vegetables.’ Apples lost part of the | dicate a tofal of 116,131 cars, 43.5 pet | Departments of Commerce and Agri- | Way to go before its character can be 0 | April gain. Live stock markets showed | cent over Februaty o culture show that millions of gallons | assured, and until there is good evidence Motors Gain Slightly Under | Leadership of Ford, Ltd., 4 and Stutz. Agfa Ansco. to: Allied Mills (60¢) L Kdalena Synd. ... Allled Prod cv A 3%. 32% Mapes Consol (13%); Aluminum Co of Am §25s 168 8% Mar W J br ah(26c).. AluCoof Ampf (6). 1 109% 1% Marion Steam Shov.. e 27% Md Casualty n (2%). 77 Mead Johnson (14) Mesta Machine (2) Met 5c to 50c Strs A, Met bc to 50c Strs B., Met be to 0c Stra pf. vonman S BY JOHN A. CRONE. Bpecial Dispatch to The Star. 5 NEW YORK, April 31 (CP.A)— Mixed price changes prevalled at the opening of the Curb Exchange today. Electric Bond & Share at 451, was and American Suerpower the same amount at 1315 Citles Service was down a fraction at 17, but Standard Am Com P A (b10%) Am Com Pr B(b10%) Am For Pow war. Am Founder! Am Gas & Elec (1) Am Invest. Ine (B).. Am Lt & Trac (2%) . Ol of Ohio at 5135 was up . Vacuum Oll dropped ¥ to 49%. Parker Rustproof stood out among the specialties as it began one of its nu- merous recent wide swings. Motars, under the leadership of Ford Motor, Ltd., and Stutz, gained slightly. Aviation Corporation of Americas up 3'2. Lone Star Gas igher at 18%. TS moved in mixed fashion. Imperial Oil, one of the features in the weak ofl list ‘Monday, opened somewhat late at 1233, ) ‘Mead-Johnson, among the food spe- elalties, continued its downward trend, Am St Pu Svc(al.60) Am Superpow (40c). Am Ut&Gen cu pf(3) Am Ut{1&Gen (B)vte Am Yvette Co (25¢). Appalachian Ga Arkansas Nat G: Assoc G & E purrts. PP T T-ToTSTor s 4 - Mo KanPL (b10%). Mi iv Fuel bd rts. vk Hud 1st (7) 258 Moss Gold Mine: 13 Mountain Pred (1) Nat American Co Nat Fuel Gas (1).... Nat Investors. Nat Pow & Lt - comparatively little net change. Grain, | below the total for March, 1930. In 87 | hay and mill feeds were mostly selling a both cases the gain over the immedi- |of citrus fruit juices will be shipped | of what effect the weather is going to o |little higher after the middle of April. ately preceding period is encouraging, | this year under refrigeration. In addi- [have on it there may be more sentiment h th behind last year is £ 105% Potato Market Irregular. f-vf:efhw’ s e tion, s huge quantity will be frozen |on the long than on the short side. under new and improved esses and | New potatoes held firm in the Norih, | Daily average production of crude ofl | either shipped in that form o stored It is expected that wheat prices will 4% | but old stock declined in some markets | in the week ended April 18 3% |and Maine potatoes sold at nearly |119,779 barrels to a total of 2,418,431 | gple 22 | steady prices. The Arizona lettuce a8 barrels, according to the Oil & G until & profitable market for it is avail- | continue strong and until relief in the way of moisture is received, particularly This has been brought about by a |if export demand continues at its recent son is closing earlier than expected. In- | Journal. ~As has been pointed out be-|change in the national appetite, or, | pace. 5 103 |tended lettuce acreage in the first group | fore, such an increase continuing as it | rather, in styles of diet, influenced by | A serious, almost critical, situation 214 | of five late States is reported slightly | does a two months' tendency Ward | the desire for health, regarded as one |Obtains now throughout Alberta as & 185 | smaller than the area last season, with | higher output in spite of efforts by the | o¢" the outstanding influences of the jresult of dry sofl conditions. E. Q. 3114 | decreases in New York and Colorado. | industry to effect control, is definitely | ¢imes " vitamins are stressed by doctors [ Hoadly, minister of agriculture, says the 14% | Intended acreage of onions in 17 late | unfavorable. In Oklahoma City field it | gpg jaymen alike as necessary to a |reports coming from all parts of the 314 | shipping States is expected to show a |is reported that allowable flow has been | palanced diet, and the fruit juices are | Province indicate a general drought, 14| net decrease of 10 per cent from last |raised 40,000 barrels to 165,000 barrels | ich in vitamins. with rain urgently needed practically opening off 11 at 95%p. Northwestern Yeast also was weak initially, appear- ing with & 5-point loss at 135. Atlas Utll Corp (Copyright, 1931.) ‘Auto Vot M ev pf ot, T ——— g Aviation Cp of Am. PRODUCTIVE FINANCING % Assoc Rayon. 3 3 3 3 s 91 ount, to only 50,670 acres. | daily for the rest of April, with a fur- everywhere. Assoc Tel Ut (58%). 30 L | AN e’ saoted Jower prices | ther increase of 10,000 barrels daily {or Distribution Was Problem. ! T 93% | on_strawberries. Baldwin apples were | May. This relaxation of schedule ap-| he dificulty in the past for the pro- Cutworms_Appear. 1% | a little weaker in Western New York, | Pears to be evidence of further difficulty | qucer was in sending his products to Short sellers of July and September w Eng Pow pf (§) 10s 85 85 | but extra fancy boxed fruit held firmly | in a district where much of the trouble | the proper market and preventing a Wheat in Chicago and distant futures in Newmont Min (4)... 6 42 |in the Pacific Northwest. Plantings of | in effecting control by proration has|glut in any single center. The preser- | Canada are uneasy and covering. Those N Y Auction.... 3% | string beans in seven intermediate been met. vation of the juices indefinitely will aid | who have been spreading between July ‘Axton Fish To A .20 NOW AT -HIGH LEVEL Specis] Dispatch to The Star. NEW YORK, April 21.—Both the quality and the “productivity” of new security flotations in March continued at the high level set earlier in the quar- ter, according to an analysis issued to- day by Moody's Investors’ Service. The survey states that for the first three months of the vear productive issues aggregated $843,000,000, or 77.6 per cent of all new offerings, exclusive of refund- ing. For March alone the productive total was $444,000,000, or the highest in any month since 1920, with but three exceptions. “The five-month moving average of productive offerings is still well below that resched a year ago,” Moody’s adds, “but it has increased for three succes- sive months. The record volume of new productive issues during the first quar- ter of 1930 was due to the improvement in the bond market and also partly to the efforts to maintain construction projects as an offset to business depres- sion. , “During the first three months of 1931 80.2 per cent of the volume of all corporate issucs were rated ‘A’ or bet- ter, as compared with 51.7 per cent of the total in 1930 and only 10.2 per cent in 1929, thus indicating conclusively the m%'n.r quality of the recent flotations.” amount of productive issues was determined by Moody's by selecting from the total of domestic flotations of new capital (less refunding) only those is- sues which were obviously destined solely for capital expansion and im- provement. Issues of indefinite purpose, or those floated for working capital or for the acquisition of other companies or investments, were eliminated from the compilation. PARIS, April 21 (#).—Prices were firm on Bourse today ‘Three per cent rentes, 89 francs 45 centimes; 5 per cent loan, 104 francs 62 centimes. Exchange on London, 124 francs 30 centimes. The dollar was quoted at 25 francs 58 centimes. BONDS ON THE CURB ba Porouan o, 0% b tHy 88 L afnge® »% A Real 9 es Service 55 jes Service 55 '66 ry Gas 5iss Paostesss b totnm B irssmes g 00000000 aR¥gadsssn ] aq ow &5 136 92'a Refractors 55 33 993 eorgia Power 55 ' z 00! 5 -t 10200 Ot e 8 58 B Gttt 1 A 000! 3 dnap P&L 55 A ntern Sec Am 55 Neb L&P 5¢ Cn P&L 55 B s C P&L 4'us berly Cla 55 A’ pper G&C 538 xington Util 35 '8 bby McN & L 55 '€3 anitobs Pw 5';8 SRR £ia( 5! evads 19 New Eng New Ene G&E NYP RE 65 '35 xw 75's &P 4135 A 6T 9610 L 65 A 2025 105% Gas 55 37 94 81 96% Slue Ridge Corp. Blue Ridge cv of & Borne-Scrymser Co Bower Roll Bear (1 Bras Tr & Lt (b8%)." Bridgep Mach (25¢). Brillo Mfg (60c).... Brillo Mg A (2).... Brit-AmT(B)1.17 4-§ Br Cel e rets. n Buft N&EP pf (1.60). Burco Ine. Burco Inc war Burma rets 127 3-5e.) Cable & Wire A ret Cent Pub 8vcA b10% Cent Stat El (b10%). Chain Stores Stock. . Charis Corp (13%) Chat Ph Aln.v (1).. Chesebor Mfg (14%) Childs Co pf (7)..... Cities Service (g30c) Citles Serv pf (6)... 61 Cit Sv pt B (60¢) . 6% Claude Neon Lts. I Clev El llum pf (6) Clev Tractor (80c) Col Pict vte (f1%). Cmwlth Edison (8) Cmwith & Sou wi r). . Comstock Tunnel. .. Consol Copper . Consol Dairy Prod. Con Gas Balto (3.60). % Contl Chicago Corp. . Cont Shares conv pf. 1258 Cont Shares pf (B).. gi Cord Corp. .oo Cor & Rey pf A (6) Creole Petroleums . 1% Cresszon Consol t4¢c). Cuneo Press pf (6% Curtiss'Wright war. 4 Darby Petroleum... Dayton Alr & Eng. Deere & Co (1.20) De Forest Radlo. De Hav Afr rcts 18c. Detroit Afreraft Cp. . Douglas Afr (11%).. Dress SRA (3%)... Dresser Mfg B (2). . Dubflier Cond & Rad Duke Pow (5) Duguesne Gas Cp Durant Motors. ... East St Pow B (1)... Efsler Electrie Corp. Elec Bond & Sh (b§) Elec B& Shcupf5.. Elec B & Sh pf (6).. Elec Pow Assoc (1). ec Pow Ass0 A (1) Elec P & Lt op war.. Fl Sharehold (b6%). p Corporation. .. cmp G & E cu of Fmpire Pwr pt(2.24) Europ E Ltd A (60c) Europ Elee debrts. . Evans Wallow Lead. Fairehfld Aviation. . Fansteel Products. . Federal Baking Shop Ford M Can A (1.20) Ford Mot Can B 1.20. Ford Mot Ltd 36 3-i¢c Ford M Ltd n 36 3- Foremost Dairy Pr Foremost Dai pr pf.. Foremost Fabric Gen Aviation Gen Cable war. . Gen Empire Cor (1 % Gen G&E cv pf B (6) 200 Gen The Eq cv pf(3). Gerrard (SA) Co. ... Glen Alden Coal (4). Globe Underwr(15¢ 1 Golden Center. Goldfield Consol. Gold Seal Elec new.. Gramaphne rets(pl) . Guenther Law (1)... Guif Ofl of Pa (1%). Hamilton Gas rets. .. Happiness Cundy . tHazeltine Corp (2).. Hecla Mining (40c). Hollinger Gold(65c) Hou-Herev pf A 2% Hudson Bav M &S . Humble Of! (¥2%) .. Hydro Elec Sec1.40. Hygrade Food Prod. 4 111l Pow & Lt pf (6).. imp O1) of Can (50e) fmp O Can reg (50¢). Ind Ter N ONA. .. [ndustrial Finan ctfs insull Inv (b6%). .. ins Co ofNo Am 2% Insurance Sec (10c). intercontinent Pet n Int Petroleum (1)... Int Utilitles A (3%). Int Ugilittes B. ... inter Equ conv pf(3) Interst Pow pf (7). Irving Air Chute (1) Italian Suverpow A . Kolster-Br (Am Sh). ackawanna ec (4) i Salt Creek Pro(1.40). 4 Stand Ofl of Ky 1.60. momBanamm " o> P Srormoe mw o S o N e ) % Van Camp Pkg...... . 2z N Y Hamburg (23%4). 1 25 |States are expected to show a decrease | Corporation news of the day contains | materially in “solving this. Then, too, |and September in Chicago have been : Do additional Teports of first QUATter oper- | frelant. charges are. & major item in ations, particularly reports generally un- | qisifibuting expense. The shipment of favorable in nature from some of the |fuices will mean & decided saving in automobile manufacturers. Brillo Man- | weight and bulk as compared with ship- ufacturing, Buttrick Co., and Bohn Alu- | pe % 6060 Mo O SoiE, minum & Brass show improvement in|™ Ay’ firgt, it is planned, according to N Y Steamn (2.60).. N Y Tel pf (6%) 58 Niag-Hud Pow (40¢) 80 Niag-Hud Pow A w.. 19 Niag Sh Md (40¢)... 2 Niles-Bem-Pond (2).. ‘1 12 e Nor Am Aviat A war 1§ Nor Europ Oil Corp.. 8 Nor Ind Pub 8 pf (6) 258 Nor 8t Pow pf (6)...110s Nor St Powpf (7)... 1 Northw Yeast Co 12) 20s Novadel Agene (4).. Ohlo COpper.......s Ohio Oll n cu pf (6).. PacG&E1stpf1%. Pandem Oll......cu0 Paramount Cab Mfg. Parke Davis (11.45). Parker Rust Pr (3).. Penngoad Corp (20¢) Penn Pw & Lt pf (6). Penn Wat & Pow (3) Perryman Electric. .. Petrol Corp war. . Philip Morris Inc.... Philip Morris A. Phoenix Secur Co; Phoenix S C pf (3) Pllot Rad Tube A. Pitney B P n (20¢) Pitts Forging (1). Polymet Mfg. . Premier Gold (12¢).. Producers Roy Corp. Pub Utll Hold war.. Pub Uti1 Hold Cp xw Pure Of1 pf (6)...... 10 Railroad Sh (§0e)... Rainbow Lum Pr B.. Raymond Con pf (3). R LTSI P O] Rhods Is P S pf (2). Rich Rad cum pf. Rousia Int Corp..... Royal Typewriter(3) St Regis Paper (1)., 1 Saxet Co. . Schlet & Zander pf 8ecu Corp Gen (40c). Seeman Bros (3) S1,1Ind full pd (5%). Sle Ind prior (53%)... Sentry Safety Cont.. Shattuck Den Min. .. Shenandoah Corp. Shen Corp pf (a3). South Penn Ofl (1).. South CEdpf C1%.. South Corp. .. PR NN A NS A AN RA NN A A NANHO LA~ & BN~ H y 8 » Stand Ofl of Ind (2). - %] Stand Ofl Nebr (2).. 1 Stand Ol Ohto (2%)100s Storkline Fur pf (1). Stutz Motor (new). . Stutz Motor (war).. -~ B BN e R Swift Internat (3)... Taggart Corp. I Tri-Cont Corp war Tri Utilities (21.20). Tubize Cantillon (B) Ungerieider Fin Cp Un Tobacco. Unit El 8ve pf war.. o wai . Pf(T)eu.us Unit Lt &Pwr A (1). Unit Lt& Pwr pf (6). US Dairy (B)...... U 8 Elec Power ww.. U S Foll (B) (50¢) . U S Inter See 1st pf. US Linesof (1).... U 8 Playing Card 2%100: U S Radio & Televisn Unit Store: Unit Ver Utah Apex. Uil P&Lt( Util & Ind.. Uti] & Ind pf Utility Equities Vacuum (4). . » PISE=TA PP T I T3 Venezuela Petroim. . Vie Finan Corp(40c) Walker (H) (1) West Alr Exp (60c) West Mass Co(2%) Wil-Low Cafaterias “Y" Ol & Gas Zonite Products (1). 23 rates tn dolla t. *Ex divide; or stock in st n stock. in stock. 5 of 12 per cent and may total only 19,- 115% [ 880 acres. 11% Very little activity was reported in :Vu Eastern field bean markets during early April and- prices were generally un- 18% | changed. 1% e 23 Butter Prices Down. ‘Undoubtedly the primary cause of the 1% | weakness in the butter market 1 ids 1% | April was the heavier receipts which failed to find a ready outlet. Receivers see little possibility of lighter arrivals 108% | in the immediate future. Reports from 135 46 most sections indicate that the make of butter during April will exceed that of % | the same month a year ago. 9 ",‘: stationary consumption trend, with an ‘The milk situation in April included an increased milk flow and a practically 8y; | easy to weak market tone, which, in 27 96 6 109 62 turn, was reflected in further price re- ductions in many sections of the country. Chesse markets at distributing points reflected the lower country costs, and 215 | were about steady to easy in most quar- % |ters. At the lower market on fresh 8 | cheese, trading was slow, as buyers con- 11 tinued to purchase only to fill most 114 | urgent needs. Cured and held styles 257 | continued steady, with trading nominal. 19 A reflection of the ligh'er consumer 7y | demand for cheese, at lcast to some de- 11% | gree, was the lighter net out-of-storage 4 7 | markets. 2 movement of cheese in several leading Egg Markets Weaken. Egg supplies from nearby Eastern areas, althcugh showing a marked de- crease under supplies of last year at this time, were still slightly in excess of trade requirements, and losses of 14 to 1 cent per dozen were registered. The greater part of trade require- ments for poultry are being satisfied from warehouse siocks. The compara- *| tively light stocks this year have made it unneccssary for dealers to push frozen poultry aggressively, or to make concessions in order to promote sales. Stocks, however, are reported as being " satisfactorily reduced. Cattle Lower. Prices of medium and weighty steers dropped to 1926 levels at Chicago nea the middle of April, following a sudden expansion in receipts. Downturns on | such kinds ranged from 50 cents to $1 per 100 pounds, as compared with the preceding week. Light steers suffered price declines amounting largely to .50 the March quarter. The Companies. reports to Government departments, to ship the frult to central localities and Angus Co. defers dividend on class A | there extract the juices and reship preferred; paid $1 February 1. Bohn Aluminum & Brass March quar- arise. Eventually, however, r common share earnings, $1.24, against $1.12. within narrower radius as m ‘lée! un!edl e: pected by Arthur D. Little, Inc., chem ists and engineers, that 25,000,000 gal- Connecticut Light & Power $1.75)10ns of frult juices will be frozen each quarterly common_dividend; previously | Year at the orchards. paid $1.50 quarterly. u The producers hope that present ex- l?u ‘whereby one big milk distrib- Hi perime: b common ings 14 " cents,| Utor is to distribute orange juice to against $1.45. 10,000 customers a day will be success- Otis Steel March quarter preferred | ful and that this will make other dairy share earnings 18 menqu, mln%', $5.49, | Toutes available for juice distribution. Packard Motor Car March quarter| The problem is to put into the hands common share earnings 1 cent, against | Of the householder a product having the 18 cents. American Commonwealth Power's flavor, aroma, vitamin content and ap- pearance of freshly squeezed juice at a gross earnings 12 months ended Peb- | Price which will yleld a profit to the Fliary 28 up slightly; net before d opeb- | producer. It is estimated that a ton and Federal taxes, after preferred divi-| 0f oranges makes about 60 gallons of dends of this company, up 14 per cent, | ¢lear juice. When shipped as & liquid American Water Works & Electric March electric output off 8 per cent; three months, off 11 per cent. Anaconda Copper Mining 1930 com- mon share earn estimated $2.90. Brillo Manufacturing March quarter. common share earnings 39 cents, .| 2gainst 19 gents. it must be transported in tank cars lass lined and kept below 30 degrees 50 that fermentation shall not set in or vitamin C be destroyed. It must be kept as free from air as possible. Process of Freezing. ‘The freezing process so far developed, Brockwafl Motor Truck 19 according to Arthur D. Little, consists $3,551,857, against net mcomeagzl%e.sa!, of extraction of the juice by burring equal to 54 cents common shai 1229. ” the half fruit or pressing whole peeled oranges. After screening, tie juice is Electric Household Utllities chilled to about 32 degrecs. it is then March sales for retatl um oot oord | put into waxed paper and frozen hard. ness for first quarter was under year|In distribution it must not be allowed age; operating 40 retail stores, about|to_thaw until twice as many as year ago. Ford Motor to maintain uniform pro- duction throughout Summer. Old Colony R. R. 1930 common share earnings $7, against $6.73. Shell Union Ofl subsidiary reduces gasoline in Minneapolis 1 cent a gallon to 14.2 cents retail for low test product, including 3 cents State tax. Virginia Iron, Coal & Coke March quarter net income $66,252, equal to 41 In order to retain flavor it is neces- sary that all equipment shall be of acid resisting power to avoid chemical -ac- tion, oxydation, dessication or liquifica- tion of cells. Vitamin C is not affected by freezing, but is attacked by oxygen. ‘The waste material, it is expected, can be disposed of in the form of pectin, orange oil and fertilizer. ‘The shipment of juice will render un- necessary the picking of oranges in a cents common share, against deficit| 8reen state in order to allw them to $41,453. Magma Copper—Average net produc- tion cost per pound of copper 1930 ]'9.1’9 8.97 cents, against 9.987 cents for Pere Marquette Railway March defl- cit after charges $25993, against net cents, although light yearling steers and | income $257,658; March quarter net loss ripen in transit and will make available for use fruit which is sound and good, but off grade in size and appearance. The fruit juices, according to the Fed- eral departments, are expected to enter into competition with synthetic flavor- ing extracts. Experiments also are going forward in preservation by other processes such undoing their spread. A prominent crop expert has indi- cated that there are considerable cut- worms in sections of Kansas and that the insects are spreading to damage wheat in small spots in the field. Indications of Hesslan fly lessen com- ing westward, but cutworms are numer- ous and hot weather is needed to check them. Some observers say there never has been so many insects as are in Kansas at this period of the season. estic Winter wheat continues to make favorable progress. The crop is beginning to joint in Southern Kansas and is making good growth in other sec- tions of the hard Winter wheat belt. Conditions remain unusually favorable in the Pacific Northwest. Conditions for Spring wheat become somewhat less favorable with continwed lack of sub- soil moisture. Important consuming countries have increased their imports, and the strengthened world wheat situation has been reflected in a firmer tone in do- mestic wheat markets, where offering: ;l're smaller and mill inquiry fairly ac- ve. European Mv-keu Active. Most European Wheat markets are fairly active, reflectrng the shortage of domestic_supplies i1 important deficit areas. Buying has been influenced by the increase in the percentage of for- eign wheat permitted in milling mix- tures. Prices of native wheat in Euro- pean markets d fairly steady, with German wheat quoted at Hamburg In $1.93%, native wheat Paris at $1.90 and at Milan at $1.66%. Another important market factor was the disappearance of wheat from Ameri- can farms during .March, which was greater than at any time during the past six years. The Department of Agriculture reports the total was 42.- 299,000 bushels, compared with the five- year average of 31,330,000 bushels. ‘Wheat stocks remaining on farms April 1 were estimated at 114,983,000 bushels, which is about 3.300,000 less than the volume on April 1, 1929. Canadian -wheat in storage was re- duced by 2,500,000 bushels this week, |md export clearances jumped more than 2,000,000 bushels, compared with the previous week. Commission Buying. Commission house buying on a rather broad scale developed in wheat toward the close of the' market last week. September wheat gained %c on July and sentiment was moderately friendly light heifers and mixed yearlings were | $470,997, against net income $496,295, steady to 25 cents higher. equal to 45 cents common share. as vacuum concentration and other|to prices indicating, traders said, Imelns of sterilization. > . s u last quarterly or se TPius 47 in Stock. ‘AdJustment hPlus 1% in m Plus 3 ular Hog _shipping requirements were rather limited, although of sbout the same volume es for the preceding week. Calumet & Arizona Mining—President Campbell resigns. Du Pont (E. I.) de Nemours & Co. Prices did not change much near the ! Company reports March quarter middle of April. Salesmen were insistent on higher | 2% | Jamb prices, but buyers were indifferent. 7 46 The bulk of good and choice wooled lambs, 92 pounds down, realized $9.75 to $9.90 and heavier weights sold at $925 to $9.60. Best clipped lambs ings placed at $1.01 a common share, against $1.52. Graham-Paige Motors March quarter deficit approximated $175,000, against deficit $489,480. New York, Chicago & St. Louis Rail- | road March’ quarter $6 preferred share brought $9.25, with heavyweights sell- | earnings $1.42, against 76 cents. ing at $7.50 to $8. A slower wcol market at Boston tended to halt any further price ad- vances. Some activity was noted in mohair tops and sorts, but domestic hair in original bag lots was quiet. Grain Markets Generally Steady. Domestic grain markets were gener- ally steady during the third week df April. Continued dryness in North | American Spring wheat areas, together with increased takings by important consuming countries, strengthened the | world wheat situation. This news w: i reflected in a firmer tone in domesti wheat markets, where offerings were smaller and mill inquiry fairly active. Feed grains were mostly firmer under an active industrial and feeder demand. Rye was steady with wheat, while flax remained firm as a result of reduced marketings and & continued fair crusher inquiry. Hay Supply Moderate. ‘Timothy hay markets were generally steady. to somewhat stronger, with moderate to light offerings in good re- quest. Light arrivals at New York City, consisting largely of medium and lower 3y | grade hay, moved slowly at prices av- 39% 16 2% 10 1 10 7 eraging slightly below those for the pre- vious week. The condition of April pastures was below the usual average at that time of year in practically all Eastern States. However, pastures have improved ma- terially from last Fall when their con- 174 | dition was unusually low. 6% 4% 44| Western and Pacific Coast markets, but | 6% 6% | der better export demand. Production continues at about the same level as| 20 Prices of wheat feeds fluctuated ir- regularly, closing higher in Central lower at Buffalo, Philadelphia and Bos- ton, suggesting heavier wheat feed pro- duction as the flour outlet improved un- 56% | for the past two months, or materially under a year ago. % % !INVENTORIES ARE LOWEST mn Butter—Good fancy creamery, | 5.50; fair to medium, 4.50a5.00; plain to | P SINCE WORLD CONFLICT BY EVERIT B. TERHUNE. ‘What is the inventory situation at the esent time? Generally speaking, inventorles are Plerce Arrow Motor Car Co. March quarter common share earnings after participation, 50 cents, against 70 cents; sold 1,602 cars in first quarter, against 2,244 year ago. Railway & Light Securities liquidating value March 31, 1931, $52.17 common share, against $45.22 December 31, 1930. Willys Overland March quarter pre- ferred share carnings 87 cents, against 97 cents; first quarter sales 20,924 units; dealer’s new car stock off 45 per cent from year ago. Addressograph International 1930 common share earnings $1.85. Butterick Co. March quarter com- mon share earnings 87 cents, against 38 cents. Fyr Fyter Co. March quarter deficit $2,319, against net income $14,286, equal to 13 cents class B share. Harbison Walker Refractories March quarter common share earnings 35 ainst 97 cents. I 11 Rand Corporation 1930 com- mon share earnings $4.72, against $10.50. ° MacAndrews & Forbes Co. 1930 con- solidated common share earnings $2.61, against $3.13. Saxet Co. net before Federal taxes 12 months to February 28 $1,633,696. ‘Westvaco Chlorine Products March quarter common share earnings 82 cents, against 89 cents. BAKER STILL LARGEST U. S. STEEL STOCKHOLDER By the Associated Pres: NEW YORK, April 21.—The list of stockholdings of members of the Finance Committee and board of directors of United States Steel Corporation, pub- lished at the annual meeting, disclosed that George F. Baker, chairman ot the First National Bank of New York, con- tinues the largest individual stockhold- er, although he has sold some of his holdings since the last list was pub- lished. ‘Today's list showed that M-. Baki owned 200 shares of preferred and 87,- 000 shares of common stock, against 500 shares of preferred and 90,000 shares of common held March 31, last year. The holdings of George ¥. Baker, (Copyright, 1931.) Business Notes By the Associated Press. NEW YORK, April 21.—With weath- er conditions highly favorable to retail turnover, an unusually active demand for coats featured the business | in the New York wholesale markets last | week. The orders, reaching a market almost bare of stocks, were chiefly for untrimmed cgats in skipper blue and black, with white styles coming to the heavy increase in the purchasing of Summer apparel, particularly spectator and sports wear. The firmer prices put on raisins in | the offering to commercial packers last | week is seen as an evidence of confi- dence that the future of this item is favorable. The pool does not see any difficulty in moving out its estimated 55,000 tons of Thompsons before the new crop, and since present indications are for a considerably reduced crop in the coming season, the outlook is for a steady trend, trade reports say. ‘Many retail and jobbing buyers are understood to have deferred covering on their 1931 flannel requirements, feeling content for the time being to purchase the one or two cases at a time that they may need immediately. It is the contention of several that they have found no difficulty in getting whatever !:ricles they require of new season styles. Orders for current and Summer de- livery featured most of the business glloed yesterday at the opening of the pring Toy Fair in New York. While final prices and complete lines for the year are being shown, large department store and syndicate buyers are showing no haste in covering their Christmas holiday requirements, exhibitors re- ported, Advances of 10 per cent each were shown by beaver, Japanese marten and fisher at the opening of the Spring sale of the New York Auction Co. Beaver brought as high as $25, marten $8 and fisher $56. Bidding for Northern musk- rat was fairly active, the skins bringing a top price of $1.75, or about open mar- ket levels and 5 per cent down from the February sale. fore. The week also was marked by a | that a large following easily could be attracted to the buying side if current market actions continued. The corn market strengthened early In the week along with the advance in wheat, but weakened again toward the close under the influence of a continued dull shipping demand together .with fairly large current offerings. Receipts at Kansas City totaled 543 cars. Mills announced a reduction of around 15c to about $1 a ton in mill feeds in &Il positions. RN DRI Sh LR S MARYLAND ORCHARDISTS URGED TO CUT PLANTINGS In view of the fact that two-thirds of the trees in the barreled-apple States are less than 19 years of age, and nearly one-third are under 9 years of age, it would seem inadvisable for Maryland orchardists to contemplate additional. commercial plantings unless conditions are favorable for the economical pro- duction of good-quality fruit, it is stated in the annual State Agricultural Out- look, recently rel by the extension j service of the University of Maryland. If, however, the individual grower | feels justified in increasing his acreage, he should pay special attention to the location and choice of varieties, particu- Mrly with reference to market prefer- ence and adaptability of the variety to the region. Production of good quality fruit in Maryland, it is emphasized, is of first importance, while reduced produc- tion cost should be second. According to the Outlook a somewhat different situation confronts the Mary- land peach grower, for light plantings in the South in recent years would seem to indicate a decrease in production of this crop. This condition seems to exist in most of the other peach-growing sections with the exception of the Cum- berland-Shenandoah area, where pres- ent bearing acreages will be maintained. However, as with the apple grower, the Outlook advises the peach grower to work toward better production and quality of fruit on trees now planted rather than any extensive increase in planting. The lowest commercial acres of strawberries in the United su’:‘:mci 1926, poor condition of plants and indi- cations of low production would seem to justify State growers in making a moderate increase in their strawberry plantings, it is pointed out in the Mary- land Outlook. Also, with this reduced acreage in the early-producing States ‘With the' leading branded lines of | &nd stabilized production in the late wide sheetings and sheets being unde: sold from 10 to 15 per cent on the higher-priced numbers by Southern States, Maryland, as an intermediate ?gu;;e should have a fair market in 5 300 8 | pound, 26a28: ladies, 21a22; rolls, 18820; | fair, 4.00a4.50; common to plain, 3.50a | , HNCCally =i ; 3 Cincrensed o 30,421 shates of com. | makers, some readjustment‘on goods , 23u24; 4815, | ot B { o for June delivery .and later probably s .l:-y"o ?i.:-kl:" i | Cows—Cholce to prime, none; good to hn“;(mz replacement buying soon be flstn‘y::r'.m“ 17,421 shares of common ?-m have to be made, it was indicated EARNINGS REPORTED. ' | choice, mone; medium to good, 45081 e will be fects of | Myron C. Taylor, chairman of the|!D the market. NEW YORK, April 20 (#)—Texas Bpecial Dispatch to The Btar. Wheat—No. 2 red Winter, export,| (0e, POSC Cium 4:0004.50; pIain | replacement tping froes aow an - | Finance Committee, held 37832 shares R CHE e Gulf Sulphur Co.s first quarter net in- 10 Texas 78 101 BALTIMORE, Md., April 21—Pota- 86)z; No. 2 red Winter, garlicky, sPot, | 1o fair, 3.00a4.00; common plain, | Will this help busines: of common stock as of March 31, com- come was $2,448,198, equal to 96 cents a kiAo N 3931 830, | toes, white, 100 pounds, 1.25a2.00; new'“’czo Aperl. 85 May, e oo-‘s‘.om TR A 5 per cent increase in the rate of puretlz with 32,536 shares held last year. BRAZILIAN MANGANESE s;tlm‘r;a campared with $3,803,701, or b ) 1, 2.0084.00; yams, barrel, s lomestic, yellow, old,| Heifers—Cholce , none: good | consumption will probably start a s.am- | Stockholdings of James A. Farrell, & , & year ago. potatoes, barrel ¥ | medium to g00d, 678 | pede of replacement and transform this | president, were 4,850 shares of prefer- EXPORTS SHOW DECLINE ey et Paikieg B, buyer’s market, into a seller'’s market. | red, unchanged from last year, and 473 | gy tne Associated Press. lowing for estimated Federal Copyright by United Busi; Publish shares of common, a decre: 0° T b by United Business Publis Ll m:!;e:;@ 807| " "Reduced prices in the world market, | against $554.339 in the same per?;‘; " . |coupled with competitiog from other |year. Per share earnings for the re- e unchinged oo et gt a8 10| Snirie nd, e SAcid cf, revation | peits periods e $145 and 8134 s | shares of preferred and 1361 snares of| 3t foeme; beoushy SRyt £ Besty Qeckne | Broskny Motor Truek Cothctation = .no | l.?menu from soenxlrsjolul‘x_lu common stock, and the holdings of | o g3y ports Efi ok Mt":nma of $3,551,857 after 'm rq‘:i'lb 2.2‘6:‘6 rose from 6,300478 | Junius §. Morgan, ir., at 115 shares of o i Coaions S0 R hr};rld.lux ents u;ld extraordi- kilos -2.! pounds), valued at|oommon stock, and Walter S. Gifford, DOI"J' partm ary charges. In 1929 there was net 85,103,568, in 1929, to 19,689,397 kilos, | Liecident of the American Telephone md‘c;;e 0'!:1!1!;0 lhlvmlen'; l:m]unkd_"n profit of $280,044. ight pigs, worth $5,981,907, 1n 1930—a gain of 18 | RROCEE O o€ BRETICIR, TOPCOINe | 192,132 metrlc tons, valued at $1.564870, | Industrial Rayon Corporatiom's first .252.8.55. per cent in quantity and 17 per cent in mon, also were Ui nged. compare g metric tons | quarter profit was at the rate of 6 cents pts, 80 head; light sup. | value, according to officlal Netherland| ®2"yew’ name e bt i Yaluectab S3T0.0 10 1020, s 1o | 3,208re, contresting with 4179 & share S M eIy Chasers of Javs Faceic tn 1930 erc. the | Jebr was that of David F. ) eck. ‘that. practioally ‘the. entire | . Birst quarier uet. profé. of. Curtis United States, h took 8,780,331 | former Secretary of Agricu'ture. who .gxpnruwemwma nited States, | Publishing Co. was $4,664.634, compared TREASURY CERTIFICATES. |kilos, valued ai $2.044,335; the Nether- holds 200 shares of common stock. 00, tons having beer | with ~ 86,493,142 in the first three yJ. & W, hll.rn & lands, 5,543,435 kilos, worth $1,700,10° AT SR S hipped les, chiefly | months of last year. e o i poor, light fowl, 16816; roosters, 13a16; choloe, 8.00a8.50; medium to e 100 B8 ‘%;; 2,954,715 kilos, vaiued a RATES ON SILVER. ‘Tobacco Products tion re- wi-When issued. ducks, 18a27; Guinea fowls, 50a75; | 7.00a7.75; falr to medium, Rk - Ll ,234; New Zealand, 887,554 Kkilos, y from Rio trade cliyes also ' ports net profit of $2.137,224 for 1930, e g pigeons, pair, 30a35. in to falr, 5.50a6.00; common to s 32! with a valuation of $265.730; Singapore,' LONDON, April 21 (#)—Bar silver, state th#t Russian manganese s ob- gainst $4,574,635 for a 1,048 cases; nearby | Plain, 5.00a5.50. 18, e 30-33 :7:1'1’.? fll: ‘worth m‘e‘h“"“’ ':‘nd‘ the ghu p:r w&u. Money, l-‘,fiz uc:nxt... u'h;:hl durin, th:osdmr at prices ich Net T;amax of L. C. s:nm;o& Corona eurr Bulls—Cholce to prime, none; rmnv recel iscount rates, short bllls, “ Brazilian production almo ‘Typewriter, Inc. s to choloe, nope; m m'nm .008 141 kilos, valued at $145,517, cent; three months, 2 9-16 per cent. profi mnnlg.d'lfil wift 555 5076: cob_corn, new, 4.00 to choice, none; b 6125 33 %0 {3.00a3.75; asparagus, dozen, 1.2524.00; | ~Qats—White, No. 2, new, 41; No. 3,|a7.35; fair to medium, “R.h"ue'l.n“w [ beans, bushel, 2508800; beets, crate, 40 i fair, 5.2636.00; common . . . - 'y a60. 2 .28, S5 41, ... ‘200:2.26. cabbage, bushel, 50a1.25; car- | Tay—Recelnts. motie. General hay < SRR rh, $00087000. 0. 1041 Tots, bushel, 75880; caulifiower, crate, | atker 1o quict” Receipts Ample, BULRO | Shecp and 1aml s b : & 1031 13812 | 176a2.35; celery, 150a2.50: eggplants, | surplus offered of heavy clover ) | ight supply; market steady. Sheep, 7 101 | crate, 2.9085.00; kale, bushel, 6.00a7.00; | Such types bring & premium of 1.00a 00; lambs, 4.50810.50, { lettuce, hamper, '5041.80; lima beans, 3,00 per ton, depending on the amount bushel, 6.00a7.00; peppers, crate, 200-}‘7’ clover. Fair to good timothy ranges 550; spinach, bushel, 30a50; tomatoes, | rom 24.00 to 26.00 per ton. |84 3 crate, 1.00a5.00; apples, bushel, 60a2,00; | Straw-—Wheat straw, No. 1, per ton, 8 per box, 1.25a2.25; grapefruit, box, 1.50a | }?'33‘}5'%' oat straw, No. 1, per ton, 7 3.00; oranges, box, 2.1584.25; straw- | 11.00812.00. h il oal berries, quart, 20a30. \e—u“ Stock Market, i 1 Saarbrueck 7s '35.. Dairy Market, Cattle—Receipts, 100 head it sup- 10 . 96! 2 Siomes Be 56 xw. Poultry, alive—Chickens, young, 30a | PI¥: market aub. yr-With warrants 40; old hens, 22a26; Leghorns, 20a32; | to prime, none; good L & 93 & Ry 55 '32. 101 90 e S =ggEgscadaaca: Nearly half the motion pizture thea- fers in’ Australis have been wired for talkies,