Evening Star Newspaper, April 22, 1931, Page 14

FINANCIAL. MARKET REFLECTS | WAGE CUT TREND Reduction in Pay Scales in Railroad and Steel Seen Necessary for Recovery. BY JOHN F. SINCLAIR. Epecial Dispatch the The Star. NEW YORK, April 22 (N.AAN.A).— H. Parker Willis, editor of the Journal of Commerce, says: “Prevailing senti- ment is especially pessimistic toward the railroads. But the time is drawing nearer when they must have an ad- vance of rates or be assisted in getting some reduction in their extravagantly heavy wage bill.” A:y“ Elgmpunxe to Mr.-Willis’ state- ment, New York Central stock dropped 5 points yesterday, closihg at 101, while the losses in other smxédnr? tmm'ond stocks ranged from 1 to 6 points. ‘The mfi:y current in Wall street, which continues to carry ‘“e general | market into more shallow areas, carried | United States Steel down 3 points. This @ despite the optimistic statements of President Farrell regarding the outlook r steel. mwmt is the trouble with the market, then? It looks as though the bankers, whose viewpoint in this case Mr. Willis reflects, belicve that wage cuts in the railroads and the steel industry m!lst take place before business can recover. In Wall street yesterday, while the heavy decline in the stock market was under way, an important conference dealing with the proposed four-system merger was in_session. Labor leaders Were present. No doubt the subject of ~Prev. 1931~ High, 27% 5 39 3% 244 10 32% 3134 39 8% 81y 203 105 16% 311 91 58% T 11y 26% 85 42% 107 29% N (Continued From Page 13.) Stock and Low. Dividend Rate. 19 Magma Copper (2).. 2 Mallison & Co. 15 Manati Sugar. 32 Man Elev mod g 1% aracaibo Oil Exp. . 191 Marine Mid (1.20) 5% Marmon Motor Car. 23% Marshall Fleld (23%) 223 Mathieson Alkalf (2) 28% May Dept Strs (2%). 5% Mavtag Co. 5 Mengel Co 54 10% Mexican Seaboary 71 Miami Copper..... 95 Mid Continent Petm. 20% Midland Steel (3)... 77 Midland Steel pf (8). 381 Min Hon'w Reg (t4). 4% Minn Moline Pow... T MStP&SSM...... 17 Mo Kan & Texas. ... 60% Mo Kan & Tex pf (7) 25% Missouri Pacific. . 72 Missouri Pac vf (5). 15% Montgomery Ward. . 4 Motor Meter G & Ei. 30 Motor Products (2) 14% Motor Wheel 1%4)... 83 Mullins Mfg. . - ¢ Murray Corp. E s Myer (F E) & Br (2) Motors (4). 2 sh Ch & St L (5). 7 NatAcme (80c). 34 Nat Bella Hess. 73% Nat Biscuit (2.80)... 146 Nat Biscuit pf (7)... 27 Nat Cash Register A, 38% Nat Dairy (2.69) 1; 3 2’ '« Nat Dist Prod (2). Nat Lead (5)... 116% Nat Lead pf B (6 81% Nat Pow & Lt (1).. 13 Nat Radiator 427 Nat Steel (2) 46 Supply (4) 41% Nat Surety (5) Sales— 1 = 2 3 e~ o L B R o T2 e e PPN I 194 2% 21 34 19 29% 22% 32% 19% 214 THE EVENING STAR, WASHINGTO NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. 19% 214 Prev. Add 00. High. Low. Close. Close. 18% 214 ~Prev. High. 1% 11% 21 2914 10% Siles— % Add 00, High. Low. 3 1% 1% 57 3 1931~ Stock and Low. Dividend Rate. 1% Seneca Copper. 4% Servel Inc..... 12 Sharp & Dohme 2214 Shattuck F G (11%). &% Shell Union Oil. 413 Shubert Theater; 14% Simmons Co. ..... 10% Sinclair Con Of] (1).. 95 Sinclair Ol pf (8). 5% Skelly Ofl. ... 1% Snicer Packing. 89 Solvay Am pfww 53 9% South Port Rico Sug. 9613 Sou P Ric Sug pf (8) South Cal Ed (). South Ry pf (5).. South Ry M&O ct (4) Spalding (A G) (2) 814 Sparks Withing (1). 10 Spencer Kellog (80c) 9 Spicer Mfg...... 5% Ssiegel-May-Stern 16% Stand Brands (1.20). 2% Stand Comel Tob. 58 StandG&E (3%)... 57 Stand G & E pf (4) 101% Stand G & ELpf (7)., 2 Stand Inve: iD. oo 4 % 41'% Stand Of1 Cal (h2%). 4l 40% 102% Stand Oil Exp pf (5). 10415 104, 1314 Stand Oil of Kan (1) Stand OII N J d12). .. 0 Stand Oll N Y (1.60). 17% Starrett (LS) (2%2). 3 Sterling Sec A.. 33 Sterl Sec cv pf (3)... 14% Stewart Warner 37% Stone & Webster (3). 20% Studebaker (1.20)... 3915 Sun Ofl (f1)... % Sun Oil pf (6 Superheater (2%). uperior Ofl » Superior Steel Telautograph (1.40). 4 Tennessee Corp(50c) 2514 Texas Corp (3).. 423, Tex Gulf Sulph (4) 1% 9% 17% 24% Prev. Close. Close. 1% 9% 17% 24% 6% ~ \ , D, 0, WEDNESDAY, APRIL 22, 1931 BOND PRICES DRIFT | Coxxev som BONDSsroccaxcamnca] |PURCHASING POWER Received by Private Wire Direct to The Star Offios UNITED STATES. TONEW LOW LEVEL Active Liquidation of Stocks Influences Trading With Downward Trend. BY F. H. RICHARDSON, Special Lispatch to The Star. NEW YORK, April 22.—Despite periods of firmness—as witness the tone on Tuesday—the bond market drifts lower day by day, successively'making new low levels for the year. Today was no exception, with trading influenced by the active liquidation of stocks. Every factor save one is in the market's favor; but that one—public confidence— is not. Easy money rates, the dropping off in new financing, heavy corporate retrenchment with a view to safeguard- ing assets while business is at the cur- rent low ebb, and the largest total of public savings in history have combined with the desire for a safe depository for funds to lift only the best of investment issues. Junior bonds remain weak and neglected. Today volume was small, but there were few buyers. Even high-grade bonds, such as American Telephone 5s, Pere Marquette 4l5s, Southern Pacific Re- funding 4s and Youngstown Sheet & Tube 5s, were inclined to sag frac- tionally. United States Government bonds were also heavy.- In junior issues the weakness of stocks had a‘direct reflection. General Theater Equipment 6s, a bond with an equity_conversion feature, dropped over 2 points. Nickel Plate 41:s were off 11, points. Fractional losses were the rule in Armour of Delaware 5'.s, Chi- cago_& Northwestern 4%s, Goodyear (Sales are in $1,000.) Aales. High. List4%s32-47. 20 L4th4%s 33-38 137 US3%s 40-43., 37 104 Low. Close. 102 26 102 22 102 26 103 26 103 30 101 20 101 17 101 20 Sales. High, Int Hydro El 44, 30 Int Match 47... 1 Int M Co Ssret'41.. 26 Int MM col tr Int Pap 6 US3%s41-43.. 12 10125 101 20 101 20 US3%s46-56. US4sa4-54..., US4%s47-52., 10 Abitibi P& P 6s°53. 10 Adams Exp 45 '48. Allegheny 5s ‘44, Alleg Corp 58 50 Allis-Chalm 6s '3 Am Ag Ch 733 "41. Am Chain 6s 33, Am F P 65 2030. .., Am1GCh5%s"4d. Am Int Cp 535549 Am B&R 18t 58 '47 Am Sug Ref 6537 Am T&T cv 4%s Am T&T 6 65 Am T&T ¢ tr Am T&T 58 8 Am T&T 5%s 43 Argentine May Argentine 6s Oc '59. Argentine 6s A ‘67, Arm & Co 4%s '39. Arm Del 535 '43 Assoc Oil 63 * Atchison gen Atchiscv 4 AtCLecol4 AtCL4%s 64 At Ref deb 55 ‘37 Australia 4%35 '66.¢ Australia 55 '55...0 Australia §s '57. Austria Austria Ts ctfs B&O45"48... B&O4%s'33.... B&Ocony 4%5°60. 31 B & O 1St 53 '48 M B & Oref 58’95 3 B & O 58 D 2000. B&O6s’95. . B&O P&WV B &O Swdy b e R P A N e -% 60% 88 6% 73% 10178 104% 102 8214 100 90% 103% 105 131 108% 108% 108 110% 92% 9% 8014, 684 103% 99%3 112% 88% 99'5 102% 5813 65 105 24 105 24 105 24 1 107 20 107 20 107 20 7 11128 11126 11128 Sales, High. Low. Close. 59 88 5% 73 101% 1045 110 49 IntT&T4%s'53.. 37 Dt T&T ov 4%38°39 7 Int T & T 5855, Irish Free St 6860, Italy 7s'51. ltaly Pub Sv s 75% | Japane: 73 | Japanese 6% 101% | Jugosl Bank 78 *57 104% | KL CP& L 4%s"57.. 101 | Kan City Sou 3s 50, 82% | Kan City Ter 43 '60. 100 |KanG& E 4%s'80. 90% | Karstadt 63°43....; 103% | Kend 6% "48 ww. .. 105 | Kresge Found 6s 36 141 | Kreug & Toll 6369, 105% LacG stLba3s... 10874] Cacleae 638 C '53. Laclede 6%3 D60’ Lake Shore 3% '97 Lautaro Nit 6s ‘54... Leh Val cv 4: LehV cv 4% Leh Val 63 2000.... Lig & Myers 6351, Lig & Myers 1344 1129, | Lloew’s 6s ex war... BEY Lorillard 5s *51 . 991 Lorillard 6%s 105" | Lorillard 7s4s. . 93 |LouG & Eibs 52,0 02 |L&Num4so . 61 L& N 4%s2003 . 107 |L&NssB 2003, . 96 L&NIstrfsl Lyons6s'34....... McCormack 63 '34. . McKes & R 538 '50 Man S 1st 7% Market St 7s 40. Marseille 63 °34. ... Mex 43 asstd 1904. . Mex 4sasstd 1910.. Mich Cen 4%5s'79.., Midvale Sti 58 '36. . 59 Bamanmoam o E 9; 983 804 68% 103% 99 I Ehnmpelaamn 106 101% 108% FINANCIA 874 92% 9%5% 81 61 67% 8% Low. 87 9214 95% 81 6015 67% 8% 89% 8374 104% 99% 95 5 104 82 104 1 Close- 87 92% 95% 81 60% 673 T8% 8914 837% 104% 99% 9% 95% 106% 82 104 8% 95% 96% 70% 66% 102% 9315 103 101% 102 OF DOLLAR GOES UP Gain of 19 Cents Over Last Year, Shown in Values ' | of Food. N By the Aséoclated Press. Retall prices of principal articles- of food in the United States declined ap- proximately 156 per cent in the last year. Analysis of statistics prepared by the Department of Labor shows the weight= ed index on March 15 of all principal foods at 126.4, as compared with 150.1 on the same date of last year. The in- dex is based on 1913 prices, represented as 100. These figures, reduced to dollar values, show that the March 15, 1930, dollar today will buy $1.19 of the principal articles of food. As compared with the 1913 pre-war period, however, today's dollar will purchase but 79 cents of the same foods. Purchasing power of the present dol- lar is given in_the following table, as compared with last year with respect to the principal articles of food contained in the Government's analysis: Commodity. Sirlion steak Round steak Rib roast. Chuck _roast Plate beef.. Pork chops Bacon Ham . Hens ". Milk . Butter Cheese Price. $1.20 122 119 adjustments was studied care- Ty, T e meetings in the steel in- dustry are reported to be driving at the same OBE. it begins to look as though Jeading industrialists have decided that the time for wage reductions has come and are ready to force the issue in every direction. Ea . Schulte, president of the &fifi? R‘,\eu\fl Btores, has voluntarily reduced his salary from $45.000 a year 1o zero! He did this because he doe; not believe the volume of business of his organization warranted his receiv- ing a salary so long as he had other sources of income. ~When business picks up again he will resume his for- mer status on the pay Toll i Mr. Schulte’s action calls for com- mendation, By reducing the operating Ccosts of these stores he puts off the day when the cutting of the general pay roll will be necessary. By fl';e time that becomes unavoidable, if it should, it is to be hoped that _reblfl prices will have adjusted themselves to the wholesale price levels. The wage earner, whose income has been shaved Gown, will have a fair break and per- be no worse off than he was bhen{:'e. Mr. Schulte’s own business, how- evg", retail prices are not likely to move down, but up. Since the ending of the price war between the Schulte and the United Cigar stores, cigarette ces have moved up. Mr. Schulte 1t says that “97 per cent of the tobacconists in New York have in- creased their prices” following the truce e two systems. bel'rwheemhgl teports from the United Cigar Stores show net profits- of more than $1,500,000 for 1930. This favora- ble showing is due principally to selling their productive interests and cocneen- 10% trating on retailing. e o f the Interior Wilbur has! 101% 95% I\‘Bne:d,“:gey gommct which will set in| 56% 52,&4’1 motion one of the largest public works lg!« T projects of the Federal Government— ;0‘:- 6:: the Hoover Dam. The actual building of __.;. 6.:; the dam alone will cost almost $50,- 'f!' A 1000,000. 23: » ‘When work really gets under way, it 34 " will provide employment for thousands | &% % Toow Jobless. AN types of workers are 3 s included: Laborers, electricians, drillers, | 2702 80 67% L esc. 5% “‘fi"’&mm; camp has been };m }i" established and engincers are on loca- s; s tion ready to go ahead on the six-and- 21 -4 a-half-year task. The 230-mile power 0% 24 line from San Bernardino will be fin- ety ished about the first of next month and 26': will furnish the power necessary to be- | 28% gin the actual construction of the dam. PH Public works of this nature will go far | 7% to reduce the misery’of unempldyment 96% in the United States, if organized on a 100 larger and co-ordinaie basis. 18 ‘Thomas D. Campbell, whose 95,000 1:,53“ acre wheat and fiax farm in Montana | 157% is the largest private farm of its kind in the world, is out with a warm de- fense of the much-abused Federal Farm Board. “Under no circumstances should our carry-over be less than 150,000,000 bush- els—that is, less than a three months’ supply. A sudden crought or hot wind could easily make a loss equal to that amount,” says this Montana farmer. “I firmly believe that had not Mr. Legge supported the commodity market last December, there probably would have been a $10,000,000,000 crash in one dav in the stock market!” Mr. Campbell, who is listed in Who's | ‘Who as an “agricultural engineer,” is| a graduate of the University of North | Dakota and Cornell. -His Montana | farm venture was incorporated in 1922 2s the Campbell Farming Corporation, | 2nd had the support of J. P. Morgan & | Co., but a few years ago the Morgan in- | terests withdrew, and since then Mr. Campbell has bczen going it alone. The dictators of Soviet Russia en- Ban & Aroos 4s "51. 9214 80 81 i 41y Texas PC&Oil. .. g . 111 Texas Pac Land Tr 10 Nevada Copper (1).. 38 97 22 131 Thatcher Mfg (1.60), 147 Newport Co (1). Thatcher pf (3.60).. 42 Newport Co A (3). 105 ‘The Fair pf (7). ewton Steel 4% Thermoid Co ntral (6) . 61 Third Avenue. i & St L p! 25 Thompson (J R) (2 \: & Harlem (5) » 11% Thompson Prod 1 Y Investors, 4 - Thompson Starrett. 72% N Y N 1 & Hart (6) Tide Water As (60c). 2 1 N Y Railways pf. 4'z Tide Wat As pf (8) 107% 100 N Y Steam pf (6). 681, Tide Wat'Bil pf (5).. 118 111 N Y Steam 1st pt (7) 43 Timken Roller (3) 217 188 Norf & West (112).. 215 Tobacco Products 11 4%, North Am Aviation.. 10% Tobacco Prod A t95c. 90% 62 Nor Am (b10% stk). 10% Transamerica (1) 24% No Ger Lloyd(a3.43). 77 Transue & W (1). 45' Northern Pacitic (5). 61 Tri-Cont Corp. .... % Norwalk Tire & Rub. 4 Tri-Cont Corp pf (6) 105 Ohto Ol (1) ; 4 Trico Products (21 3 Oliver Farm Equip. 3 4 5% Truax Traer Coal Co. 5% OV Farm Iq b1 pr.. 9 TwinClity RTr (§4). 3 Omnibus Corp. ... b 41% Twin City RT pf (7) 40 68 Omnibus pf A (8)... i 60% Orpheum Cir pf (5).. bkt i Otis Elevator (23). 5515 rbide (2.60) 7% Otis Steel. ... . < 19% Un Oil of Cal (2). 54 Ouis Steel prpf (7).. 160 ONEACNS10). 45%~ Pacific Gas & El (2). ’n Pacific pf (4). 50% Pacific Lighting (3). Init Aircraft... Pacific Tel & Tel (7) nit Aircraft pf Pack Mot Car (6uc). Tnit Biscuit (2). ... Pan-Am Petrol B. siness Pub. . Panhandle P& R.... Paramount Pub (4). Park Utah. 5 Fathe Exchary nit Corn (7c). Fatino Mine: . 9 44% Unit Corp vt (3). Peerless Motor Car.. 3% 3 3 3. Unit Electric Coal. Penick & Ford (1)... 6 T51% UnitFruit (4)... Penney (J C) (2.40). 27% Unit G & Im (1.20). Penn Dixie Cement. . 23% if Piece D W (2) Penn RR (4)........ U S Distribut pt (7). Peop Gas Ch (8 T3qU S & For Seeur..... Peoria & Eastern.... 17 ¥ Fetrolin Cp of Am«1) S Expres: Phelps Dodge (2)... S Gypsum (1.60). Phila Co pf new (6). 1 S Hoftman. . Phila Co 6% pf (3).. Phil Read C & 1. ¢ Phillips Pctroleum. . Phoenix Hos pf (7). . Pierce-Arrow pf (6). Plerce Ofl....a..... Plerce Ol pf........ Pierce Petrolm (10c) Pillsbury Flour (2).. Pitts Coal 5 Pittsburgh Coal pf. Pitts Screw (1.40) Pitts United Corp. Pitts & W Va (6).... Port R Am Tob A 3% Postal Tel&Cable pf. Prairie Oil & Gas (2) Prairie Pipe L (3)... Pressed Steel Car... Proct & b (2.40 ) l’;zfil‘&n:fl'fin;. ). 3 3 ¥ 2815 Wabash RR (A).... 3 22 Waldorf Sys (1%).. Sfi.‘,’g!;’j{,i :g: 2 8 Walworth Co (1). Pub Sv N J pf (6 315 Ward Baking B. Pub Sv N J pf (7). 90 Walgreen pf (6%).. Pub Sv N J pf (8)... 10 Warner Bios Pict Pub Sv E & G pf (6). 21%2 Warner Bros pf 3.8 Pullman Corp (4)... A Waseauinien.... 4 2 arren Bros (3), Eon. 24 Warren Fdy & P (2). Pure O} p! g 21% Wess Oil & Snow (2) DUy Bakarics 99 WestPaEIA (T)... 103 West Pa El pf (7). BRaiCorD. .- o0 -0+ 103 West Pa Pow pf (6). Radio Corp pf A(3%, 114 West Pa Pow pf (7). 4 Radio Corp B (5). 2415 Western Dairy A (4) Radio-Kelth-Orph A. 4% Western Dairy B. RR Sec 1CstkC (4). 12's Western Md Raybestos Man 2.60. Wkt Pacioe ot Reading Ry (4)..... b 43 eading 2d pf (2). .. NERHRE A D (2 18ilk Hos(b10%) Jesting BI&MTy 138 teis (R) & Co Ist pf. 10s - M pf (4).1708 Remington-Rand. ... 12 et ol Semeiiaud 1si pFde) 1 Westvaco Chlor (2). Rensselaer & Sar (8) 10s Waxtark Radio itrs. Iteo Motor Car (40c). 14 Wheel & L Erle pf. Republic Steel...... 14 19 White Motors (1) Republic Steel pf.... 2 39 White Rock MS t Reynolds Meiais (2) 1 23 White Sewing Mach. Reynolds Tob A (3). 30s . 614 Wilcox Oil & Gas. Reynolds Tob B (3). 26 4% Willys-Overland. . Richfield O. 3 44% Willys-Over pf (T) gaged him to assist them in their gi- ! Rio Grande Oil. % Woolworth (2.40). gantic scheme of co-operative agricul- | Rit Dent Mtg (« I ture. In 1929 he was induced by the| 26 w Rossia Insur (: E . 4 ; Soviet government to go to Russia as 20% Roy Dtch(m1.3404), ' Yale & Towne (2). S special adviser and constilting engineer ol e il becnus'n“ntdm? expxencncc with large in- 20% Youngs Spring (3).. 20 20 Custrialized farming. 4 1t g reported that in addition to the Sales of Stocks on New York Exchange. excellent services he rendered the Rus- - 400.000 12:00 Noon. sians on that ccrasmq his visit resulted .;:.::ilcl}l‘ll\’(:‘ ():e‘:h:vemt . .h:J()O 000 in the placing o $185,000000 in orders S R TR for agricultural machinery with Amer- fcan firms. a7 3 Uplt,of trading less than 100 shares. (iPartly extra. tPlus Before jeaving on a second trip to Searono tegular Tate. b Payanle in siock. d Buvable when ‘earned. that country last year, he said to me: :};l;;}xl:;abzl';; Xru;{lon{ a\;gmlg’nxcm‘:u;;.xlstlock. & P“&‘ a!'qkm :lg]ck. e e 45 | 35 in stock "m'Paid this Year—no resular rate. n Bius 5% in Stock: go after it. And we ought to do it now, 1 because there is enough business there | for American manutaette® tonms|| CORPORATION REPORTS depression. 3 TRENDS AND PROSPECTS OF “insolvency” which ars worth a study: | i N 1. Contracts for purchases of raw || LEADING ORGANIZATIONS. materials, drawn with friendly brokers | | at prices 10 to 20 per cent above CuUr- | By the Associated Press et i ) & | NEW YORK. April 22.—The follow- 2. Very flattering salaries to_execu- g e 5 tives making a great show of keeping | iNg is @ summary of important corpora i PE | fion news prepared by Standard Sta- bu 3. Construction of home office build- | yistics Co., Inc, New York for the As- ing by a group of insiders, who then | ot "o News Trend. lease it to the corporation at an in- For the fourth week steel activity is ordinate rentgl—that is, a major por- repcrted by the Iron Age as showing & 5s, International Telephone 5s, Mis- souri Pacific 5'.s and 5s, Paramount- Publix Phillips Petroleum 5Y%s, Frisco 41:s, Shell Union 5s, Southern Railway general 4s and Warner Bros, Pictures 6s. An index of bonds of :|the junior type stands today over 34 per cent below the level at the begin- ning of the year and over 6 per cent under the same index a year ago. While there was some strength in European dollar bonds, owing to switching from American securities by German, French, British and Italian investors, the general tone of the for- eign list was weak. The possibility of stretching the recent recoveries in Aus- tralian bonds was eliminated with the announcement of the suspension of payments by the New South Wales Savings Bank. This bank, with de- posits of $425,000.000, is comparable in size to the defunct Bank of United States. Continued weakness of coffee prices checked the recovery in Brazil- lans. Other South Americans were also sold. ‘Today’s new issues consisted of less than $5,000,000 in municipals. These are in strong demand. Onondaga Coun- ty, N. Y., was able to borrow at prices 1anging from 2.25 to 3.65 per cent yield basis on bonds due 1932 to 1951. De- troit proposes to sell $19,337,000 of se- 173 | rial bgnds maturing 1932 to 1961. Mis- 6 | 5icsippl bankers have given definite as- 71% |surance that May 1 maturities of State | bonds will be taken care of, on the as- sumption that no other provision is {made for them. Prices ranged slightly | higher all through the municipal list. 3 Additions to the list of bonds legal 244, for savings banks and trust funds in 501 | New York State were announced by the 10 |banking department today. They in- jclude Boston & Maine Raiiroad Co. general 4%s, series J; Southern Pacific Co. gold 4l2s of 1981; Texas & Pacific Railway Co. genera) and refunding 5s of 1980, series D; Public Service Elec- 8 |tric & Gas Co. of New Jersey first and 29 |refunding 4s of 1971, and Public Service 24:"1‘30\;';;;( Terminal Railway Co. first 5s 1 of - Milan 6%s ‘62... Mil E Ry & L 6561, Uiz | M StP&SSM con 4s. 106" | M StP&SSM 5538 o 1l0% | MSP&SSM 535578, e mswessu 110% MK&T4s B " . oo ™| MK & T 1st 4590, 185 | MK &T 435578, . T |MK&TprinisA. S { Mo Pac gen 43 Logie | Mo Pac s A '65 1047 | Mo Pac b3 k17 94 | Mo Pac os H '50 5414 | Mo Pac ref 63 ‘81 3114 | Mo Pac 538 cv 49, 105 " | Mobile-Ohio 5s '38 1001 | Mont Tr 1st6s 41, 9075 | Mont Pow bs 43. 53w | Montevideo 7s 52.. 5 Mor & Co 1st 4%s. . Nassau Elec 43 68 anh Ry ist 98% | Nat Dairy bi%s ‘48, ¥4 | Nat Rad 6%s 47. 10214 | Netherlands 637 2 N Eng T 1st bs ‘5z, New S Wales 68 57 New S Wales 63’58 NYCgnils'9l.. N X Cen s 98..... N ¥ Centdb 4s '34. NY Cen rf 4%s2013 NYCre im 65 2013, N Y Centdb 6835, NY C& St L 4337, NY C&StL 4%s ‘18, CaSULE%sA C& St L 6s 32, Edison 6 B ‘44 NY Edist6%s 41, NY ELH&P 58°48. . NY NH&H 4%s '61. NY NH&H clt6s. .. NY NH&H cv db 68 N'Y Tel 4%8 3. N ¥ Tel 6s 41.. N ¥ Tel 63 49 NY W&B 4% Nord 6%s '50. Norf South Nor & Wnev No Am Co 58 N A Ed'son 5s Nor Am K4 §las 63 Nor O T & L 65 '47. Nor Pac 3s 2047 r Pac 43 97 Nor Pac 4%s Nor Pacr ) 632047, Nor St Pw b8 A 41, Norway 58 63..... Norway 5%8 '65... Norway 65 ‘43 Norway 6s ‘44 Norway 6s '52 Ogden&L Ch 4s"48. Ore Short L 5s gtd. Oreg-\ash 4s ‘61 Orient dev 6%s '58. Orient dev 68 53. Pac G & 11 5342, Pac T&T 1st 53 Paramount 6s '47 Paris-Ly M'6s '58 Paris-Ly M 7s 58 Pathe Exch s '37.. Penna 4%s D31 Penn gen 4%s 65 Penn 4%s'70. Penn 4%s 63. Penn 5s '64. Penna gen 55 "68. Penn 6%s '36. . Penn O&D 4%s 77 Peopl Pere Peru 6s ‘60 Peru 6s "61 Queeniand 6: Read gn 4%s A 97, Rem Arms 6s A '37. Rem R 5%s A ‘47 Rhinelbe is ‘46. Rhine West 6s Rhine West 63 'b3.. 12 thine West 7s 50.. 1 Rich Oll cal 63 '44.. 20 Rlo de Jan 638 '62. 16 Rio de Jan 8s "4 1 R Gr De Sul 6; R Gr De Sulss 46 Rio Gr W clt 4s '49. 32 RIAr&L4%s'34. 2 Rome 6%s°52 16 Roy D 4s ‘45 ww. 4 StL IM R&G 4s°33. 16 StL&SFin4sA.. 29 StL&SF 4%s'78. 117 St L&SF prIn 53 B. St L & SF gn 6s'31. StLS W 1st4s'89. StLSWev4s'3z.. San A & A P 4s’43.. Sao Pau 78 "40 ret; Sao Paulo 8s '36. Sao Paulo 85’50 Saxon 7s"46. cee Seab A L cv 63 '45.. Selne 75 '42. 3erbs-Cr-S1 7s Serbs-Cr-S1 83 ‘62 ShelkUn Ol 63 '47. Shell Un O11 55 '49. Sinc O 7scv A '37 Sine Cr O 5%s 38 Sine P L £8'42.. Skelly Oil 5%s'39.. Solvay Am 658 42. Sou Bel T&T 5s 41. SW Bell T 55 A '54. Sou Pac ref 4s ‘55 Suu Pac 4%s ‘68 Sou P 4%3 69 W' Sou P&Or 4%s'77.. Sou Ry gen 4s '66.. Sou Ry 5s'94. Sou Ry 6s '56. Sou Ry 6% St OIL N J 68 *4 StOIN Y 4%s '51. Sweden 5% Swiss 5148 46. Tenn ELP 63 A "47. Tex & Ark 5%s8°50. Tex Corp cv b8 ‘44 Tex & P 1st 5s 2000 Texas Pac 6s D '80. Third Av ref 4s 60 Third Av adj 58 '60. Toho El Pow 78 ‘66. Tokio 5%s 61. Un Pac 1st 4s'47... Un Pac rf 43 2003 Un Pac 48" 94% | Unit Drug ¢ 93% | Utd King 6% 74 | US Rub 1st 5547 73% . Un StIW 6 58 | Urugu: 80 S:K 93 | Uru s L ay 88 *46. 100 P&LGbs'44.. 1024 8715 UM Pow 58 '59 ww. 71 | Pow 5%8 "4Taa Sugar Tox i.o.. Coffes """ All foods. . Bk of Chile 6% Batav Pet 4% '43.. Belgium 68 '65..... Belgium 6%s 49, Belglum 78 '55. Belgium 78 '56..... Bell Tel Pa b3 B ‘48 Bell Tel Pa 55 C Berlin Cy El 65 Berlin CYEL 6 Beth Steel pm 53'36 Beth St rf 55 '42 Bolivia 7s '58 Bolivia 7s '69 Bolivia 85 '45 . Bordeaux 6s'34.... Bos & Me 68 '55.... 12 Bos & Me 53 '67. ... Brazil 6%s '26. 2 EBrazil 6% Brazil 1s ‘Brazil Bremen 75 '35 Bklyn Elev 6%s. .. Bkiyn Man 6s 68.. 101 Bklyn Un 58°45.... 2 { Bklyn Un 1st Budapest 6s " Buenos A 6361 'v. Buff Gen El 4% 581 BR&Pitt 41857, Canada 45 '60 Canada bs bz Can South bs an Nat 448 '54. Can Nat 4%5 ‘68. n Nat 4% 55, Can Nat 58 July ‘69 Can Nat bs Oct "6, Can Nat55°70..... Can Nor 6%s db *46 jCan Pac deb 4 Can Pac 4143 '60. .. Can Pac bs ctfs "44. Can Pac 65 '54. Cen¢ Pac 45 °43 Cent Pac 53 '60 Cent of Ga 55 C '59. Cert-td deb 5% s 48 Ches Corp 5s '47. C&O4%sA C&O4%sB" Chi & Alt 3s CB&Qgen CB&Q4%sT7... CB&Q 11dv 3%s 49 Chi & Eas 111 s '51. Chi Grt West 48 ‘59 Chi M StP&P b5 *76 Chi M & St P ad) 65 In its investigation of public utilities the Federal Trade Commission has con- ducted a field examination of two im=- portant holding companies, one of \l;'mch has large natural gas opera= tions. The commission has completed the field examination of two of five holding companies and has begun work on an operating company that has a large natural gas business. A field engineer- ing inspection of the properties of an important electric operating group was completed and will be the subject of an early hearing. Reports were completed on the man- agement, servicing and corporate inter- relations of two groups of holding com- ! panies, service organizations and op- erating companies and work on other groups is under way. Reports on the transmission of electric energy across State lines by two large holding com- ~ pany groups and an accounting report on a large operating company have been completed. Alfred Reeves, general man of the National Automobile Chamber of Commerce, declares improvement in the motor industry is resulting almost en- tirely from an encouraging buying in- terest rather than pressure for business volume at any price. Reeves says that manufacturers in the last year have been working closer together on common problems, and there has been no hysteria within the industry. On the other hand, he said, there is a definite recognition that troubles of the depression are passing and a firm belief that the world ve- quires more highway transportation. The hope of the industry lies in the public understanding that it is un- economical to continue the use of old, unsafe cars in the face of the modern efficient products, he says. “In this fact lies the industry's | strongest hope for continuing good | business during the Summer and | throughout the rest of 1931,” Reeves | said, adding: “Certainly, with the passing of de- pressionr conditions, the public is able to buy new cars. Having worn ou: their old cars they need to replad them with new vehicles, and with th definite assurance that new models wilt not appear until the end of the year they are willing to buy them now.” ‘The Federal Reserve Board's condi- tion statement of weekly reporting member banks in leading cities on April 16 shows increases for the week of $129,000,000 in holdings of Govern- ment securities, and of $92,000,000 in Government deposits; also $46,000,000 in loans, $133,000,000 in net demand deposits _and $31,000,000 in time de- posits. Total loans and invest its, partly as a result of Treasury o] tions, increased $206,000,000. Loans cn securities increased $48.- 000,000 at all reporting banks, while “all other” loans decreased $2,000,000. Holdings of Government securities in- creased $129,000,000, and of other se- curities, $31,000,000. Borrowings of re- npg.x"tégg member banks aggregated $19,- Production of metallic zinc of more than 99.9 per cent purity at compara- tively low cost looms as a definite prob- ability as a result of research by the Bureau of Mines, details of which are | to_be announced in the next few days. Working for the last three years on the general problem of finding im- proved methods to assist in utilizing the zinc ores available in the Western, Central and Eastern States, bureau engineers have studied chemical reac- tions, working temperatures and ores, giving promise in meeting modern in- dustrial requirements for righ-grade low-cost materials. Outstanding success failed to reward their efforts until they were able to test the practicability of certain thermo-dynamic calculations indicating possibilities in an undevel- oped direction. Verification of the result attained at a Western experiment station of the bureau is about to be made public. It |is expected this will affect favorably the mineral economics of the third largest non-ferrous mineral industry in the United States and in addition prob- ably will extend the use of another important mineral product. 0. a. 53 4 1% 1% 8% 3% 36 2814 3% 545 200% 5% 6% 51t 814 56% 56 0 24% 0 NY NY NY 8 111% 6 91 5 105% 32 1144 1 108% 108% 10 106% 106% 10 111% 111% 4 B0% 304 107 107 20% 20 991, 99 99 9% 101% 101% 1 1034 107 66% 23% 93% 11 1035 101 103 105% 105% 102% 6915 108% 948 94 100 1047% 104 .92% 104% 106% 250 20 1001% 20 100% 20 100% 54% 8y By 65 11 5 Indus Alcohol 3714 | % US Leather. ... 275 U S Pipe & F (2). 23% U S Realty & Imp(2) 11% U S Rubber....... 20% U S Rubber 1st of 18'3 U S Smelt & Ref (1). 42% USSm& Ref pf 3 2713 U S Steel (7). 143 U S Steel pf (7 5% Unit Stores A. 28 Univ Leaf Tob (3).. 102 Univ Leaf T pf (8 47 Univ Pipe & R pf (1) 90s 21% ULl P&L A (et2.15). 31 247, ... 198 4214 | 508 ) | Pot. Elec. Pow, 513% pfd—5 at 110. 603 107 | Amer. Sec. & Tr. Co.—10 at 336. 51% | Lanston Monotype—3 at 103}z, 10 at 2815 103, 10 at 10215, 10 at 103. 25, | AFTER CALL. 8 |W. R. & Elec. 45 57—$1,000 at 89%%, 4% | $1,000 at 897, Capital Traction—20 at 34, 10 at 34, 20 104 ]| “ag 34, ’ 22 |pot. Elec. Pow 5%2% pfd—10 at 110, A% 5 at 110, | Amer. Sec. & Tr. Co.—10 at 335. 27% | Lanston Monotype—5 at 102},. 153“@0:. Elec. 6% pfd—10 at 113. 110% Bid and Asked Prices. e BONDS. PUBLIC UTILITY. it { Amer. Tel. & Telga. 4%:s '39 12% | Am. Tel. & Tei. cii. tr. 55 Andcostin & Poi. R. R.'5s Anacostia & Poi. guar. 55. C. & P. Tel. 36 0 (Copyright, 114 1931.) P T P P SO P SIS P RS-y S L i 8 AR Washington Stock Exchange SALLS. Capital Traction—8 at 34, 8 at 34, 10 at 34, 10 at 34, 2 at 34, 10 at 34, 10 at 34. Pot. Elec. Pow. 6% pfd—4 at 1123, 4 at 113, 5 at 113, 3 at 113. ey SRS 109% | 47 108 Chi&NW rf 58 2037. Chi& NW 63%s ‘36. Chi R1& P ri 4834 ChiRlcv é%s'60. Chile 63 60. Chile 63 '61. Chile 6563, . Zhile Ts Chile Cop b Christiana 65 ‘54 SCC&SUL 415 E. . CCC & St L 55 D '63 Cinn G&BI 4s A '68 Cologne 63s Colomb 65 Jan Colon 011 G5 38 Colo & Sou 435 ‘35. Col G&E 58 May ‘b2 Com Inves $3s'43. C Md st rf 65 ‘60 o AL | Con G N ¥ 5% 45, Con Pwr Jap®$%s. . Con Pow Japan 1s. Copenhag 6s Cuba 5% 45 Cuba R R 58 '52. Caecho 8s '51. Czecho s Del & Hud rf 4s°43. Denmark 44%s '62. . Denmark 5%s '55.. Denmark 6s ‘42 Denver Gas D&RG W 5855 Det Ed G&R41%5'61 Det Edison rf 5s '49 Det Unit 4%s 32 Deutsche Bk 6s '3 Dodge Brcl 63 40.. Duguesne 4%s '67. Dutch East | Mar.. Dutch East 1 6s 47, Dutch East 1 6562, East C Sug 7%s '37 El Salvador 85 48. . Erie Gen 43, Erie cv 53 '67. Erie 5875 4 Erie Pa cit tr 4s'51. Ftat 7s ex war '46.. Finland 5%s '58. Finland 6s°45. .... Finland 6%s ‘56. Finiand 7s ‘50 French 7s '49. g French Gvt 7%s "41 Gelsenk'chen 6s ‘34 Gen Baking 5%s '40 Gen Cable b3%s '47. Gen Motors 63 '37.. Gen P Sv 5%s '39.. Gen St Cas 5%s '49 Gen Th Eq 65 "40... German 5%s 5. German Bk 6s ‘28. . Ger Cen Bk 6860 J Ger Cen Bk 6360 O German 6%s ‘50 German 7s rep ‘4 German Bank 7 Ger Gen E17s 45... Goodrich cv 68 *45. Good 1st 634847, . Goody'r Rub 58 '57. GrandTr sf db 6s'36 Grt Nor 43876 D. Grt Nor 4%s 17 E. Grt Nor gn 5%s ‘62, Grt Nor gen T Greek 68763, ..0.00 Halts 6352 .c0.nse Hud & M adj 68 '57. Hud & M rf 58 '57.. Hum O&R 5%s ‘62, Hungary 7%s"44.. 1B TIist pf6s A.. 111 Cent 45 G3... 111 Cent ref 45 '55.. 111 Cent 4% s '66. I11 Cent 6%s 36 11 CCStL&N 63 A. . Inland Stl 43%s A'78 Inland Stl 4s% B'81 Int Rap Tr 68 '66. .. Int Rap“Tr sta '66.. Int Rap Tr 6s ‘32 Irt Rap Tr 7s°32 1 Int Cement 6s'48.. 55 Int & Gr Nor 65 '56. & 984 Va Elec & Pwr pf(6) 41'5 Vulean Det (4) 96%, 100% 95 % 100% | 103% 508 608 508 Bid 50 1283 of Va. bs. R ! Cily & Suburban 5. Georgetown Gas 1st 35 Fotomac Elec. cons, 5 | Potomac Elec 65 1953, | Wash., Alex. & Mt. Ver. ctis! .. Wash'! Balto, & Annap. 55. Washington_ Gas 4125 : Washington Gas 85... . Wash. Gas 65, serles A Wash. Gis 65, series B Wash' Rwy. & Elec. 45 MISCELLANEOUS. Barber & Ross, Inc., Chevy Chase Club_5Yas 5 Columnbia Country Cluo 5725’ .. D.C. Paper MIs. 6s... Cold Storage 55 . Cons. Title 6s STOCKS. PUBLIC UTILITY, Amer. Tel. & Tel. (9) Capital 1raction Co. (4) Wash, Gas Light Co.:(18) N. & W. Steamboat (i2) Pot. Elec. Power 6/ pfd Pot. Elec. Power 5! Wash. Rwy. & Elec. co Wash. Rwy. & Elec. pfd. NATIONAL BANK. Capital (14) Co.umbia (12) 2 Commercial (stamped).’. District (8) Fed.-Am. Na Libérty (78)... Lincoin (12) fons increased somewhat, and stocks of | common share earnings 27 cents, against Netropolian 'ii4] lkks (193) ... line decdeased slightly 18" cente: feesd (5% . 5 | 3 | Washington i The Companies. Union Pacific Railroad March net s e Ame. Sec. & Tr. Co. (15) .. 334 Bigelow-Sanford Carpet to anticipate | operating income off 13 per cent; three Continental Irust (6). L 15 Natl. Sav. & Tr (1 435 payment of $1,000,000 serial notes in |months off 32.1 per cent. maturitics to 1935 out of cash on hand.| Aviation Corporation ~(Delaware) | Prince Geories Bk. Tr. 28 Briggs & Stratton Corporetion March | March quarter deficit $334,436, against | Gnign [Ttust (B2 - g5 b quarter common share earnings 65 cents, | d‘gg‘;ag?gffbmm oSttt abi v SAVINGS BANK. ags i - sda_(68) . . sgainst $1 carnings, 6 months to March 31, $1.31, | BAni,of Betheata, (68,5, . 105, ot " | “General Foods Corporation March | Eotomac (10). . against J195, nine months, $5.58.| quarter common share earnings $1.05, |Seventh. Sircet (1. ... “Brooklyn & Queens Transit March |3ainst $L13. Wash? Mechanics’ (20 juarter common share earnings 31 cents, | "““‘;,“:r'mgsg’:gng‘;'7¥c“,":g gg:m{ FIRE INSURANCE. against 38 cents; nine months, 91 cents, | SOTar el American (1) 9 | Sorcoran (10) g o A General Motors March Chevrolet pas- | Sremen's () ark Equipmcnt 1530 common share | oo;,00 registrations in 32 States 36,169, | National Union (15) ;! tion of the bullding e R against 43915 Buick: 4904, against TITLE INSURANCE. 4. Abandcnment by the corporation oy oufety uarter | 5,608, of which 733 were Marquettes; |Columbla (sh). . of three floors of office building it had | g ciipe, dissipatirg whatever hope had | ok o Cadillac, 547, against 405. e Ll . . 8 line, dissipatic a gainst 98 cents (ex-luding Autostrop), 2 - MISCELLANEOUS. previously been using prior to expirac | ngered that a_quick recovery might |in same quarter 1930. 8 ). | ™ Bangor & 'Aroostook Rallroad March |, g pons Inc com . Uon of lease, with continuance of|igye place on tie strength of deliyed | Goyld Coupler Co. March quarter |DCt to show drop of about 8 per cent|cof Medical Blde. Corp. 6) septal payments for sald empty space. | utomotive or other oraers to complete | doficif® $94.103, - against met income | [FOI VAT 8g0, EXoss off a like amount. | Col, sand & Gravel vid. (¢ Sis on foreign Sofl with runming ex. | SPFing requirements. Tnis week’s drop | §324,036; equal to $1.28 common share. | , Chicago Great Western Raliroad first | goic, "3 omocsels fotiy: cu Soeeian: ot o a level estimated at 49 per cent Cf | *“Howe Sound Co. March quarter coms | QUAItET het after charges estimated at Pese e maintenance of a flect of | CAPACLY from 51 per cent last week and | mon gharz earnings 64 cents, against | 50, C°Pts 8 Preferted shate e 3 rtantly ready for the | around 53 per cent the week before | gy 46, | shares, agains & a share on 471, Sirpisnes; Fept: consiantly veady conforms with the normal trend for this | * Hupp Motor Car March _|334 shares; March net about $120,000, use of executives. period. it $080.011 against met. suarter defi- | against $1i1.850; April revenue so far (Copyright. 1931, by Nortn American News- | " An "encouraging report of rall¥ay | 749: cqual to 4 cents comm ~ share. ~ |SUEDUY ahear of March, ' freight car loadings is released Ld‘fi"‘. The International Business Machines | To‘bs(;cosl;rrce:is .“Bh.u(": a‘.?ol: share Weok before. -The amount of this rise is $2.82, against $2.68; adjusted for 5 per man says outlock for orders over re- more than usual for this week cf the | cent stock dividend in 1930. mainder of 1931 is not promising; cur- yezr, though the total is still 173,382 cars | Intertype Corporation — Twenty-five | rent operaticns nv_eragmg around 10 Under the total for the same week of | cents quarterly common dividend; pre- | per cent of capacity: has unfilled orders 1930. viously paid 50 cents. for 50 locomctives, against 190 on June “Thie report from the ol industry yes- | Minneapolis & St. Paul Railroad | 30, 1930. terday of higher daily average crude | March quarter deficit $2,105,580 against| Atlas Powder first quarter output of output is amplified today by figures in- | deficit $1,998,111. explosives off around 20 per cent. e o5 dicating that prectically the entire in- | Northern Siates Power gross earnings, | Auburn Auto. March passener car e 737,934 cars crease is contribuf y. Southwestern | 1~ months ended January 31, up 1.4 per | registration 3 4 N 798,511 cars territory, and all but a small proportion | cent; net, after taxes, orf 0.9 per cent. | 1,967, against 778; Cord, 152, egainst Shoe polishes are being sold in drug {;::ngh:; - 55; 19 911,316 cars by East Texas and Oklahoma., Opera- Sweets Co. of America March quarter | 133. and grocery stores in Sweden. — » - . [OTCTOTR S e o N S S e P 5 13 85 = 18 10% 20% ores (5). afeway pf (6) t Joseph Lead ran pf (6) 1.100.000 t L Southwestern. . chulte Retall Strs. . cott Paper (31.40) ard Air Line.. ave (60c)..... ars Roebuck $2% . econd Nat Inv.. o AnE8in meSalronnna ke 100% 90% 824 | 9334 9214, 9% 118 125% 94 95 8314 104 943 90% 5014 8074 87l 811 81 88 105 9044 100% 5T% 98% 89%% 108 95 9614 109 110% 85k 94 1% 99 1021 100% 106% 82% 857% 86% 109% 91% ® 8 Utilities Inccmes Drop. NEW YORK, April 22 (#).—Revenues of ‘manufactured and natural gas util- itles aggregated $63,125872 in Feb- |ruary this year, a decline cf 8.9 per cent from figures for the like month of 1930, according to reports from 317 companies serving 13,560,068 customers and representing nearly 90 per cent of the public utilitv distribution of nate ural and manufactured gas, to a compuaticn by the American Gas Association. ;1o D200 235 B PO S What causes insolvency? Every in- solvent company answers that question | in a different way. But here’s a re- cent statement, giving six sources of 340 124 55 30 21> 60 32 25 e e CHICAGO POTATO MARKET. CHICAGO, April 22 (#).—Potatoes, 88 cars; on track, 258 cars; total United | States shipments, 748 cars; old ‘stock, steady; trading only fair; s.mJ per hundredweight Wisconsin round whites, 1.4521.60; Minnesota round whites, 1.30 al40: Idaho Russets No. 1, 1.60a1.70; | No. 2, 1.30a1.35; new stock dull; trad- ing slow; Texas sacked Bliss Triumphs, best, 4.0024.25; fair to medium, 3.25a 3.50; few, 3.75. QuStincfuomren Narman @ 3 50 Federal Storage pid. Fed E Lanston Monotype (8) Mer. Tr. & Stge. com. (10) Mer. Tr. & Stge. pfd. (7). Mergenthaler Lino (6) .. Natl Mtge. & Inv. pfd. Feoples Dris Siores pid Real Est M & G, pfd. Security Storage (de) ... Ter. Ref. & Corp (3) The_Carpel Corp. (1.50c). W. Mech. Mtge. com. (6) .. Wash. Med. Bldg. Corp. (73 Woodward & Lothrop com. Woodward & Lothrop pfd. {7 *Ex dividend. el%% extra. b Books closed. 527 extra. 6 88 20 8 Vienna 6562 ..... Va Ry 4%s'624.... Va Ry Ist 6862, vabash 4% Wabash 2d Warn Br Pic 9. Warner Sug 7s "41. Warsaw 7s . Wst Sh 1st 4s 2361, 8% 87 99% 99% 993 105% 105% 105% 68 66% 67 102102 102 50% 501 105 105 105 51t 51 % 913 106% 106% 106% 9% 19" ‘79 103% 108% 108% 109% 108% 1 102 102 100 99 29 29 55 55 85 | 101% 101 - 10144 CAR LOADINGS GAIN. Car loadings of revenue freight gained slightly during the week ended Apnl 11, as compared with the previous week, but the aggregate was substantially ur- der the same week of 1930. The totals for comparable periods, as calculated by the American Railway Association, fol- low: ‘Week ended April 11... Previous week .. Same week last year. WEO5%s'37 ww. Wil & Co 15t 63°41. Win R A 73841 Wis Cen gn 45 '36.. Ygstn Sh&T 68’78, 21 8 42 2 4 2 7 30 27 1 2 50 1 3