Evening Star Newspaper, April 28, 1931, Page 14

NS T REACTON 1S €O L B ‘No Method Seen Legal to Prevent Payments by Private Firms. BY J. C. ROYLE. Officlal Washington had too hectic a time with the soldiers’ bonus legislation this year to hear the word bonus with- out wincing. Consequently questions as to the attitude of the capital on the regulation of payment of a bonus by a ?}m : oebrstm ?n’i‘ executive mii %m- e receive cold responses. HOw- gur. these questions have been asked repeatedly in connection with the financial showings of some of the big steel companies and other large cor- porations. They may be asked even more frequently as a result of the Beth- lehem Steel Co. meeting Thursday since President Grace of that eumrny re- ceived a bonus approximating $. that bonus payment subject to governmental rml-uon mve been advanced. Departmental authori- ties have no hesitancy in sf that Federal regulation is an im Even a measure which s throuhg Congress either re; ments or enforcing a non- in a m?ouuon charter would be un- constitutional, they assert. The only possible door through which Federal Tegulaticn could find its way into the situaticn is the door of interstate com- merce, and t-e payment of salaries or bonpses is not a part of interstate com- merce. Submit Constitutions. Moreover, corporations obtain their from the various States and pronflw authorities . must conform to the State laws. If directors and managements are empow- ered under those provisions to pay ‘bonuses, they cannot be restarined from doing so. TS pablic optnion demanded i, 1t is possible that the Legislature of a State and New Jersey have resulted lions accruing from such fees to those States. If a State were to i g i i : § i | i 4 ggE 8 =4 of sctivities and h 1 ; i H He § . i 1 3 8 £ i ; ; I EE g5 & 2 E | s i i i i 5 al i 8oy i i i § g3 b 8 ] i BeB8w 2geg - (Copyrisnt. 1931 —_—————— BAR SILVER QUIET. NEW YORK, April 28 1M .—Bar sil- ver, quiet and 1, lower at 28%. N. & W. Declares Dividend. ed of $2.50 on the common stock, payable June 19 w stockholders of May 29. CHICAGO DAIRY MARKET. cchoo 10, April 28 (P) —Butter, 17,982 tubs; easy; prices hanged. ,m cases; easy; extn firsts, 16%2; fresh grlded firsts, 15%; fresh cul t re ts, 1412a15; storage packed firsts, 17%;; storage packed extras, 18. Poultry, alive; 1 car, 35 trucks; steady; fowls, 19a23%;; broilers, 32a34; roosters, 14; turkeys, 25; heavy ducn 20; heavy Spring ducks, 24; xme TREASVBY s'u'rmm‘. Treasury receipts for April 25 were $3,085,373.95; ez::endmlm. $16,772,- 783.40; balance, $382,446,868.10; cus- toms receipts for the month to the close of business Aprfl 25, $27,695,664.07. FOREIGN EXCEANGE tations furnithed by W. B Hibbs & Co.) e T e g vold Selline checks enn: nna.pm 0 crown_(nom.) crown Z 2677 2 26.77%c 26.80%2¢ mmmy CEBTIFICATES. (Reported by J. & W. Seligman & Co.) Rate_Maturity Bid. 2 190 1% 10 3-22 100 4:33 101 18-32 1931 1s. 1031 1931000 oists. -0 1931377 SHORT-TERM sEcmu'rms uuwmdnya & w. lelllnnn“‘a °§ 5 ot 100 6. 101 17-32 THE EVENING STAR, WASHINGTO\I X Q. NEW YORK STOCK EXCHANGE i Recelved by Private Wirs Direct to The Star Office. (Continued From Page 13.) ~Prev. 1031 c Prev. Low. Close. Close. 1 12 St J l% Leh Valley Coal. 18 Leh Savage Liggett & Myer (15). LiTg & Myers B (15) Lima Locomot (m2). Link Belt (2.40)... Liquid Carbonie (3). Loew's Ine (3).... Loose-Wiles (12.80). Lorillard (F) Co. McAnd & Forbes (2). McCrory B (2). 1001 Mclintyre Pore M (1) McKeespt Tin P(15 McKesson & Rob McKes&Rob pf(3%) ScLellan Stores Mack Trucks (3). Macy (R H)&Co(n3). Mad Sq Garden (60c) Magma Copper (2). Mallison & Co. .. Man Elev mod g (d5) 12 Manhat Elev gtd (7) 'ID- 23 11 7 2 1 Marmon Motor Car.. 1 Field (3%) Marun Parry. Miatnieson Aliail () 21 May Dept Strs (2%). 6 Mavtag Co. 4 Maytag Co pf (3) Mengei Co. Mexican Summ‘ Miami Copper ... Mid Continent Petm. Midland Steet (3)... MilEIR & Lt pf (6). 101 Mo Kan & Texas. Mo Kan & Tex pf . Missouri Pac pf (8) -‘Mohawk Carpet. 15 1 60 Stude Nat Emmlflnmp.. t Lead (6).... Lead pf A (7).. Timken - Nat Surety (5). Nat Tea t1).. Nevada Copper (1).. Noranda Mines. ..... Norf & West (112).. 4% North Am Aviation. . 90% 62 Nor Am (bl10% stk). 141 87 53 North Amer pf (3). 60% 43% Northern Pacifie «5). 1w 3 Norwalk Tire & Rub. 19% 9% Ohlo Ofl (1)..... 5% % Oliver ermfl'allln 26 15% Olv Farm kq p pf 6% 3 Umnibus Corp.. 58% 38% Otis Elevator (2%) 129% 124% Otis Elev pt (6) o9% 39 106 Outlet Co pf (7) 39% 28% Owens 11l Glass 54% 454 Pacific Gas& K1 (2). 65 69% b50% Pacific Lighting (3). 1z 131% 116% Pacific Tel & Tel (7) 390: 131% 124 Pacific T& T pf (6).. 208 % Pack Mot Car (§vc). 298 35% 32 Pan Am Petroleum 36% 31% Pan-Am Petroi B 4% 1% Pannandle P & lo% 28% Paramount Pub (4). 5% Park & Tilford.... 1% Park Ulah. . coeeevee 214 Parmelee Transport. 3 Pa 8% Patino Mine: 2% Peerliess Mol 46% 34% Penick &Ford (1). 39% 28B4 Penney (JC) (2.40).. 5% 3% Penn Dixie Cement. 64 53% Penn RR (#)...... 36% 23 Peop Drug Strs (1) 1 108 96'% Peoples DS pt (6%). 108 250 200% PeopGasCh(8).... & 10% 6% Fetirolm Cp of Amt1) IB 26% 56% b52% Phila Co 6% pf (3) 7% P’hil Read C& I..... 9 Philip Mor & Co (1). Phillips Pctroleum. . Phoenix Hos pf (1) Pierce-Arrow pf (6, xs 2 174 z 1 4 14 agccageaqgeas ERB RS BB RAL B Vulean 49 Stock and Dividend Rate, Safeway pf (6)...... ph Lead (1).. St Louis & San Fran. St L-San Fran pf (§) St L Southw Sales— Add 00, High. 108 94% tern. .. Arms (2). Schuite Retall Stri Scott Paper (31.40).. 20s Seaboard Afr Line. Seab Air Line pf... Sears Roebuck 32% Second Nat In' Seneca Copper Sharon Steel Hoop. Sharp & Dobme. . Shattuck F G (11%). Shell Union Ofl. Shell Un Oil pf (5%) 4 Shubert Theater. Simmons Co. . Skelly O1). ... Sloss Sheffield St pf. Saluer Packing . Solvay Am pf ww 5% South Port Rico Sug. Sou P Ric Sug pf (8) South Cal Ed (2).... South Pacific (6). South Ry (8)........ Spalding (A G) (2). Spalding 1st vf (7).. Sparks Withing (1). Spear & Co. . Spicer Mfg Spiegel- Stand Brands (1. Stand Brands pf (7). StandG&E (3%)... Stand G & E pf (4).. Stand Invest Corp. .. Stand O11 Stand Oil Exp pf (5). Stand Oil of Kan (1) Stand Il N J(12).. Stand Ofl N Y (1.60). Sterling Sec A.... Sterl Sec pf (1.20) Sterl Sec cv pf 13) Stewart Warner..... Stone & Webster (3). Studebaker (1.20) May -Ste: 0). 1(hz%) ker Cp pt Sun Oil pf (6).... Superheater (2%) Superior O1l. Superior Steel Symington A. Telautograph (1. «7) . Tennessee Corp(50c) Texas Corp (3)..... Tex Gulf Sulph (4). The Fair pf (7). Thernoid Co Third Avenu Third Nat In Thompson «J R) (2). Thompson Starrett. . 4 [ide Water As (6uc) Tide Wat As pf (6).. 4 Tide Wat Oil (30c).. Tide Wat Oil pt (5).. Timken Det Ax (80¢c) Roller (3) Tobacco Products Tobacco Prod A t95¢ Iri-Cont Corp. . Tri-Cont Corp pf (6) Trico Products(23). Truax Tr Twin City R Tr (§4). Ulen & Co (1.60). . Und-£ll-Fisher (5) Un Carbide (2.60) Un Ol of Cal (2). 4 Un Pacific (10). Coal Co. Unit Blsoult f (1) Unit Carbon. . Unit Cigar Stor Unit Corp (T6c). Unit Corp vt (3) Unit G & Im pf (5). Unit Paperboard. Unit Piece D W (2), Unit Plece D pf 63 . U 8 Distributing. U S & For Secur ca new ger ] = i ifa Era s re 2 2% ": Indus Alcohol(2) Leathsr. ... Leather A. . Leath prpt (7) Plye & F (2). P &F 1st (1.20) Smelt & Ref (1). S Sm & Ref pnv.. U S Steel (7). U S Steel pf (7). Unit Stores pf (4) Univ Leaf Tob (3).. Univ Leaf T pf (8).. Univ Ple 1st pf (8).. Univ Pipe & Rad. ... Utll P&L A (et2.15). Vadasco Sales Corp Vanadium Corp'n. ... Car Chem 6% pf. a Elec & Pwr pf(6) 20s Va lron Coal & Coke.100s Det (4). Vulean Det pf (7). Wabash RR.... Wabash KR (A) Wabash RR (B) Waldorl Sys (1% Walgreen pf (6%). . Walworth Co (1). Wi roer Bros Pict. Warner Quinlan Warren Bros (3). War Broscv pf (3). 11% Fitts United Corp. 7 Pour&Co (B). 16 Port R Am Tob A l% 4 PRAMTobS...... 22% Postal Tel&Cable.pf. 915 Prairie Ul & Gas (2) 17% Prairie Pipe L (3). 31; P'ressed Steel Car Proct & Gamb (2.40) Proc & Gamb pt (5) 2% Prod & Refiue: 96% 72 PubSvNJ (3. 10133 95 PubSvNJptb). 118 109% PubSv N J pf (6). Blsu. 40% Pullman Corp (4) % Punta Alegre Suga % Punta Aleg Sug ctfs. 64 Pure Oil.. . 126 80% Pure Otl pf (8) 29% Purity Bakerics R 12% Radio Corp..... 503 48 RadioCorppfA(3%., 1 34% RadioCorp B (6).... 4 16% Radio-Kelth-Orph A. 154 18% Raybestos Man 2.60. 4 60% Reading Ry (4). 41% Reading 2d pf (2). 3 15 Real Silk Hos(b10%) & 8% Remington-Rand 18 90% KRem-Rand 2d pf (8 1008 6% IKeo Motor Car (40¢). 5 12 Republic Steel. 27% Republic Steel pt.... 11% Heynolds Metals (2) 5% Reynolds Spring.... 70 ‘Reynolds Tob A (3). 40% Reynolds Tob B (3). 1% Richfieid Ol . 4 Rio Grande O1l 27 Rit Dent Mfg (2%) .- 16% Rossia insur (2.20).. 29% Roy Dtch(m1.3404 38% Safeway Stores (5).. 1% uz 6 lu 11% 101% 554 27% 55 60 4% 29% 9 47 Wilson 54% 66% 23 M 18% 2% 10:30 A.M 1:30 P.M tions, uvmt of tr West Pa El pf (6) West Pa E1 A (7). West Pa kl pf (7). Western Dairy A (4) Western Dairy B. Western Md..... Western Pacific Western Union (8) Westing A B (2).... Wesllm; EI&Mfg (4) 615 sting E&M pf (4) 4508 ston 1 Instr (1). . 408 58 eel & L Erie pf. % White Motors (1) White Rock MS t4%. White Sew. Mach pf.. 4+ Wilcox Oil & Ga Willys-Overland, Wilson & Co. . &CoA. Wilson & Co pf. Woolworth (2.40) Vv orthington Pum: Wrigley (Wm) (4).. ‘ale & Towne (2) vellow Truck. . Youngs Spring (3).. Zenith Radio Sales of Stocks on New York Exchange. 300 000 - 2,000,000 12:00 Noon. «++ 1,100,000 2:10 P.M. e ee 2200,000 Dividend rates as given in the above tabl cash Dayments based On the latest Quarterls of halssearty dannia less than 10;]3:{3/:‘ {»";:::l,‘ o:r k. .Pl =% e -u'af.g' fus'S% in Sock: FPlus dllM or omitted during the last 16 HALF OF LISTED STOCKS REVISE THEIR DIVIDENDS Half of the 467 active cash dividend paying common stocks listed.on the New |Paper, steel and tire companies, Least York Block Buchangs wn; danoesy. | gfm to advers: dividend action dur period were agricultural imple- | 1930, have revised thelr dividend rates | e 5 ‘l‘ne :ranps most severely affected, the states, comprised coppers, house- hnld momrs, motor accessesies, ofl mm.s can manufacturing, food and utilities. by Moody’s Invuwrl Service. Only 35 of .the dividend revisions’ were upward, xu‘nn QUOTATIONS. nmmmlau-oum:uu vmmn( m)-— tion of 6 cents. This compares with 7 cents a month ago and 14 cents a year | ago. DRY GOODS MARKETS. NEW YORK, April 28 (Special).— | Cotton goods-markets were quiet. today. | Print. cluth quotations were unchanged at 5% for 64x60s and at 6 for 68x72s. Raw silks were quiet and 5 cents higher. Oliver Jcnel has J\ut n elected the first woman mayor of BOND LIQUIDATION | CONTINUES AGTIVE Weakness of Stocks Appears Prime Moving Force in Selling. BY F. H. RICHARDSON. Special Dispatch to The Sta: NEW YORK, April 28.—Liquidation continued today in all classes of bonds except a few gilt-edged corporation issues, United States Governments and municipals. Both the foreign and do- mestic lists were affected. The prime moving force in the selling continued to be the weakness of stocks. Declines in the domestic list were in direct propertion to the weakness in companion stocks or to the poor show- ing in earnings reports. There was some forced liquidation as well, but this was in smaller volume than on Monday. Money rates were easier, with 90-day tim= loans quoted at 13, per cent and very little business trnnncted ‘The money market 4s overflowing with funds. Volume of trade was moderate. A steady investment demand for prime securities was still in evidence and the small losses in this group oc- casioned by Monday’s necessitous liquid- ation were recovered. Active issues in this group were the 10 Treasury long term issues and American Telephone 5s & 513s; Allls Chalmers 5s, Atchison General 4s, Brooklyn-Manhattan Tran- sit 6s, Brooklyn Union Gas 5s, Canadian National 4%s, Chesapeake Corporztion 5s, Columbia Gas & Electric 5s, Con- solidated Gas 5138, Detroit Edison 4%, Great Northern 7s, Inland Steel 4!2s, National Dairy Products 5'(s, Pennsy vania 4Ys, Philadelphia Co. 5s, Soul ermn Pacific 41:s, Union Pacific 4s and Youngstown Sheet & Tube 58. The heaviest pressure on ai one group was exerted against oil company issues, among them Texas Corporation 5s, Shell Union 5s, Skelly Oil 515s, Rich- fleld Oil of California 6s and Sinclair Oil 6%s. The conservative Standard Oll issues, such as Standard of New Jersey 5s and Standard of New York 4148, were also liquidated, but their de- clines were {r: . Amusement com- ny bonds, including General aters uipment 6s, Pmmoum-?uhux 51ia Pathe 7s and Paramount Lasky 6s, were also weak with their complementary stocks. Second-grade rails were heavy llso, but inclined to widen their alr sizable losses. Missouri Pacific une 45 met support around their previous low. 8o did 0 4! Frisco A 4s, St. Paul 5s and Erie 5s. Declines were w.de in the foreign department, the chief weakness again being manifested by South American dollar bonds. Uruguay 6s and 8s ex- tended their losses of Monday. Chile 6s dropped 12 points after opening firm. e Chilean government adopted radical measures for retrenchment in government expenditure. Brazilian issues were again weak, with reports current in the street that Brazil and its provinces may bz forced to meet im- mediate interest payments in the form of script. Argentine 6s were firmer, paralleling some recovery in Argentine exchange. European bonds were also under pressure. German government 5%s were unchanged, but German repara- tions 7s, Italy 7s, Austrian and Belgian descriptions had fractional declines. The French group was unchanged. London’s favorable &ecepflnn of the British budget was re ted with firm- ness in Great Britain 5!.s and Irish 5s. Australian bonds did not react to the announcement that the federal govern- ment would again have to pay interest charges due May 1 in London and New York for New South Wales. This was accepted some time ago as a foregone conclusion. (Copyrisht, 101) Washington Stock Exchange SALES. Washington Gas 6s “W"—$100 at 1021, Washington Rwy. & Zlec. pfd.—20 at 9833, 5 at 98%, 3 at 98%. District Nluon.ll Bank—10 at 203. National Metropolitan Bank—10 at 310. AFTER CALL. Merchants’ Transfer & Storage pfd.— 10 at 95, 10 at 93. Potomac Electric 6s 1953—$1,900 at 108%, $1,000 at 108 Mergenthaler Linotype—10 at 80, 10 at 80. Potomac Electric 5'2% pfd—10 at 10934, Clpihl Tflctmn—ll‘ at 337%. Potomac Electrlc Cons. 35—$1,000 at 103 UNLISTED DEPARTMENT. Franklin National Bank—10 at 125, 10 at 125, 4 at 125. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Bid Asked. Amer. Tel. & Tel. 4%s 12674 Am, Tel & el cil tr. Anacos Potomac Elec, cons, Potomac Elec' 65 um Alex. & Wlsmnnon Gas 55 Gas g serles Gas & serics Wath Rwy. & Hec. 45 MISCELLANEOUS. Barber & Ross, Inc. 6'as Chevy Chase Club Sas aper M Cold Wash: Eons. itie 6s. STOCKS. PUBLIC UTILITY. r. Tel. & Tel. (9).. pm Eiec. Power 815! & El. com. Waih RY. & B ot ). NATIONAL BANI Capital (14) Columbia (12) Commercial ~ (sta District (8).... , Ped.- atl. Bk, & Tr. (3)] Metropolitan Riggs (15 Secona ' o). 00 Washington ~ (13 Zouer COMPANY. Sec. & Trust Co. (15). Eoninena Trust (8 Netl. Sav. & Tr. (121) Union Trust Vaen Toan & Trisi (i) SAVINGS BANK. Bank of Bethesda (81). .. Savings (16, United States Wahington Mechanics (20)" FIRE INSURANCE. American (4 12), Retosa utton (189 TITLE INSURANCE. ¢ oS.88588158088! 205 S 0B8R rpel . W Mech. Mtge. Wash, Med, i'):zh Corp, Ciay X rd & Lothrop lll ( ¢ idend. o 108% 4 5% C C Md 1st rf 55 50 TUESDAY, APRIL 28, 1931 FINANCIAL, [=owv o BONDS s s :«mnupmwn-mn«u'rua- . UNITED STATES. les as0 e n.uu lel%ul'-fl Close. 7] lul za lnles 10127 L1st4%s32-47. 25 102 28 102 26 10226 L4th4%s33-38175 104 4 104 1104 1 US3%s40-43.. 11 101 28 101 26 10128 J%-u. 3., 26 10128 10126 10128 50 102 2102 2102 2 4 106 1 108 Abitibi P& P 68’53 13 Ab & St 53843, Allegheny 65 44 Allegheny 5 Alleg Corp 55 Allis-Chalm 5 Am AgCh7% Am F P 65203 Am1GChb% 9 . B 6. 1 Am T&T s s £°60.. 2! Am T&T 6%s 43... 13 Am W Wks 68 '34.. 11 Argentine 6s B '58. Arm & Co 4%5'39.. Atchison gen Atchiscv 4%s°41.. 25 Atch Ariz 4%s'62.. & AtCList4s 62... 1 AtCL4%3°64. ... At Ref deb 5s 37... Al & Danv 4s 48, .. At& Danv 2d 4848 Australia 4% ‘66.. Australia bs ‘65 Austria Austria 78°57 B&O4s'4s Ban & Aroos 4s 'n. ck of Chile tav Pet 443 (z.. B-Illnm 69 °6! Belgium 6 Belgium 7s Belgium 78 Bell Tel I'a 58 C '60 Berlin 5168 '55. 2 Berlin CYEI 6%5'51 Beth Steel pu Beth St rf 68 42. Bolivia 75 '58. Bolivia 75 '69 Bolivia 8s 45 Bordeaux 6s " Brazil 6138 Brazil Brazil Eremen 73 '35 Bkiyn Elev 6 Bkivn Man 6s ‘68 Bklyn Un 58 45.... Bkiyn Un Ist 58°50 12 Budapest 63'62.... 12 Buenos A 6361 Pv. 3 Buff Gen El 4348’81 1 Calif Packing 58’ 40.° 1 Canada 45 '60 . 40 %, Can Nat 4%s ‘65, Can Nat 64 July ‘69 Can Nat 55 Oct 69. Can Nat 5570, Can Pac 5s ‘54 Car Clin & O Cer.. Pac 43749 Cen Ry NJ g 5 '87. Cert-td deb 6% 48 3 Ches Corp 63 °47.., 24 C&O4%sB'95..., 1 3 Chi M & St P adj 6a 111 Chi&NW g 3%s '87. Chi & NW gn 4s '87. Chi&Nwn 4%s 2027 Chi& NW con 4%s. Chi&NW rf 58 2037 Chi & NW 6%s 26. ChiRI& Prf4n’3s Chi R Icv 43 '60. Chi R1&Pac 4%s'52 C TH&SE 1n 55 60. C& W Ind cv 48 '5: C& W ind 5% Chile 75 4 Chin Gvt Ry 55 '51. CCCE&STL4R%sE. . Clev Term 414877, Clev Term 5335 72 Colomb 6s Ja Colombia 68’61 Oct Colo & Sou 4148 '35. Col G&X El‘lly 52 Com Inv, 40, e Lowrmwm anbinorRawlvIS ke ConGN Y bls Con Pwr Jap 6%s. . Con Pow Japa Copenhag 4%s '63.. Copenhag bs ‘52 Cuba 5%s 45 . Cuba RR 6s ctf '36. Cuba Nor 515 "42. . Czecho 8s '51. Czecho 9s 5! Del & Hud rf 45 '43. Denmark 4 %3 '62. . Denmark 5%s ‘55 Denmark 6s ‘42 D& R Gr gn 4s '36. D&RG W 68 ’55.... Det Ed G& 4% 5'61 Det Edison rf 55 '49 Deutsche Bk 6s '32. Dodge Br cl 63 '40.. Duquesne 41 s "6 Duteh East 1 6s'47. Dutch East J 65 '62. El Salvador Erie 15t con 4 o Erle 53°75 Finland 5 58 Finland 6 *45. . Finland 6%s ‘66... Fla & Coast 5s Fond J&G 4348 '52. Fram 1 D 7%s"42 French 7849, French Gvt 7 Gen Baking 5%s '40 Gen Motors 63 37.. Gen St Cas 5%s 49 German s rep ‘49.. 10 Ger Gen El 78°45. .. Goodrich cv 68 *45. GrandTr sf db 65’36 4 106 106 . 2108 2108 2 53 11214 1121111214 Sales. High. 55 99% 874 103% 105% 21 3% 13% 82 82 93 93 90% 90% 20% 20% 20%. 20% 107% 107% 18 118 4 126% 126% 108 95% 95% 103% ) 89 2 N lcln. lllh. ‘Low. Close. Int Rap Tr §s " 15 54 54% Int Cement bs "4 Int & Gr Nor §: |lnl Hydro El 68 int Match 68°47. Int M Cobsret'4l.. Int Pap 63 A ‘07.... Jugosl Bank 1- ‘l‘l. ACP&L4%s'ST.. FALORES BELOW FORMER RECORD Firms Forced to Close During “ Current Depression Half of Total of 1920. BY JOHN L. COOLEY, Associated Press Pinancial Writer, * NEW YORK, April 28.—Wall Street does not like Stock Exchange failures, but it is finding some consolation ‘in the fact that casualties in the current depression to date amount to only half 12| the total recorded during the slump KanG & E 438’80, Karstadt 6s g nhmxmnbend led to that started in 1920. Considering the much greater vio- lence of the coliapse from the 1 peak, this comparison is I’el’lru.:'l rather encouraging, although it is re- called that fully half of the failures of a decade ago came after the mar- ket had begun to climb out of the depths. Nevertheless, a large propor- tion of tho:e later failures olln'ed adoption L the Stock Exchange of ruxlnanu ln(memberst.onlenuml mwmem ‘This step, he disclosure that scme houses which hnd been ’.: &uu solvent were in q 102 105% “406% 101% 101% €% 77 29 29 85 55 L ) 105 105% um\ 102\ 1 Mo PacGisev 4 Mobile-Ohio 55 '38. Mont Tr 1st b Montevideo 6 Montevideo Mor & Co 1st 4% NCh&StL4s"78.. Nassau Elec 45 Nat Dairy 6% Nat Rad 6%s 47 Nat Ry M 4%s5’ N Eng T 1st §s '6: New § Wales 6; n New 8 Wales 65’58 NOT&MG5%s54. 3 n % 9% 51% 61% 101% 101% 15 15 3 3 m o t'db ¢s '3 Q_Yrccmnrnu "'u. en rf 41482013 6, NYCré it 503 N Y Cent db 6; NY CLS cI'3%8 93, NYC& St L 4837, NY C&StL ¢%s 78, NYC&StLE%sA NYC&StL6s'ss. N Y Edison 63 B *44 N Y Ed 18t 6%s"41. 101% 101% 103% 103% 107. 107 66 66 93 111% 111% % NorOT & L 68 '47. Nor Pac 3s i:ll 102% 102% 102% 05% 105% 105% 02% 1021 102% 2 108% 108% 108% 6 9 3% 94 8- 95 94y 95 35 100% 100 100 9 104% 104 104% 2 107% 107% 107% 19" 101% 101% 101% 19 89% 88 88 104% 1023 It OreShort L Ssgtd. Oreg-\Wasb 4363, . Orient dev 63%s Orfent dev 6s 53. Paris-Ly M 7u°68: . Pathe Exch 78 ‘37 Penns 48 Sw i 96% 061 106% 17 101t 1013 1oms 00% 1004 1001 14 103% 102'% 103 12 108% 1081 108% 17 1104 110% 110% 2 99% 99% 991 1 108 108% 1084, ot 8T 87 5 Sou omw om 3 102% 1024 102% 33 20 18% 20 48 22% 22 22 4 8L 50 50 15 1023 101% 101% 70% Penn 6343 '3 Penn O&D 41817, Pnila & Read Philllp Pet 5% s '3: Pilisb F M 65 43, 5 1 Pirelli 7s 1013 101% PTCaSt + 4 1001 100% 100t PCC&StL5sA.. 13 108% 108% 108% Poland 6s°40. 11 69% 68 68 Poland 7s°47..5..: 16 80 80 Poland 85 '60 .. P'Ind G El 435 '60. Por R T am 68 ‘42 Pos Tel & C 5n 63, . 1 Pressed St C 58 '33. Prussia 6s 52 2 Public Serv 4s *7 95% 954 7.0 10 104 104 104 4 103% 108% 1033 Pure Oll 5% '!'l. 52 82 82 82 Read gn 4%48 A '97. 4 101% 101% 101% 6 93% 93 3% 9% 91 87 s Rem R5%8 A ‘47, Rhinelbe s 48 Rhine West Rhine West Rhine West 65 ‘5. 16 84% 84y Rhine West 78°50.. 7 100 100 100 Rich Ofl cal 68°44.. 56 46% 464 46% RiodeJan 6343563, 7 40% 40 40 Rio de Jan . 841 1 87 89 43 77% 43 l% )__5 lll'i A11%_1 4 Grt Nor 55 °13. Grt Nor gn 5% Grt Nor ken 7s Greek 68°63. . Hock Val 414899 Hoe & Co 68 34 Hud & M ad) bs '57. Hud & M rf 58 '57 Humble O1l 58 '37 Hum O&R 5% Hungary 7%s LB T 1st pi 11l Cent ref fifi% 1021 109% 110% 85% 103% 10216 103% A9 59 76'% 6% 102 102% 102% 100 100 lg‘!fi 106% 98 98 T4% Ta% €0% 61% l' usv prinbsB. 87 87 SQL B Wev4dn'ss S W bs'52. 107% 107% 81 8l 9% 9% 64% 644 65% 66 85% 85% 100% 100% 91% 90% 90% 03% 103% 103% M 94T Sheli Un O11 Shell Un O m il 6 100% 100% 100% | T them to ride out the storms of the last two years. Dividends Interesting. Comparison with the depression of & decade ago also is mumu;gom olh. matter of dividends. Generally speak- ing, corporations cut their disburse- ments to stockholders much mner in 1921 than in the present is mnblewfi&me'flm part] of prof :1 which piled up during Coppers, oils, les et the groups. mo ml:flflll] ously panies were nfl;cted Utfll}y '!001. Ilm lement and can manufacturing com) were affected. Down So Far in 1931, do u:‘mnmlm nies, reports p‘ in the first quarter of the there were 24 redueuon-'::?l’r:‘: Special Dispatch to The Star. BALTIMORE, Md., April 28.—Pota- toes—White, 100 pounds, 1.25a2.00; new tomatoes, .00a5.00; a) b\uhe 7582.25; per bflx, 1.75a2. o Ll»!. 1.50 mu. nnw- Dairy Market. itry, alive—Chickens, young 30s 93% | 40; old hens, 21a24; ugboru. 19a20; 1 18a28; guinea roosters, 14ai5: pound, 24a26; ladles, 20a21; 16a 16;" process, 22-21 store uekd, 14a15. Hay and Grain. Wheat—No. 2 red Winter, export, ; No. 2 red Winter, garlicky, spot, Apfil H-"‘. May, 85. A Corn—No. 2 domestic, new, 382a39; meral hay but no per ton. Straw—Wheat straw, No. 1, per ton, 10.00a11.00; oat straw, No. l, per ton, 11.00812.00. Skelly O11 5% 39 Sou Bel T&T b8 41, SW Bell Ths A °l 0. StOIINJ bs IIOIINYC s 61, Toklo 5%s Un Pac 1st 48°47. o B urmaqwSha 1004 10008 100% 100% I 106133106% - s ReleaeldZl s e sm" Utll Pow 5% ll... Vert Sug'1st 75°42. Ry lstbs Wabash 2d 63°39 Wst Sh 1st 45 2361, West El deb b8 West Md 43°62. .. Wes' Md 5%s°77.. 9414 94y ' VWisCenan it Rap Tr bs' 4 T - 71 xg:a'!:m'u,.mc 1288 0% 10%