Evening Star Newspaper, April 30, 1931, Page 15

FINANCIAL. #¥* A_1§ ISMALL CHANGE USE FINANCIAL. CUR GOES HIGHER | THE EVENING STAR, WASHINGTON, NEW YORK CURB MARKE . C., THURSDAY, APRT BONDS ON THE CURB MARKET. STOCK AND BOND AVERAGES By the Assoclated Press. THURSDAY, APRIL 30. Received by Private Wire Direct to The Star Office DOMESTIC BONDS. ds. High. Low. A5 IS INGREASE Note—All stocks are sold In one ~Prev. 1931~ Hieh 2214 Stock and Dividend Rate. Affiiiated Prod 160.. 10 hundred-snare_iow excepting those designated by the letter s (80s) (3508), which shows those stocks were sold in odd lots. Sales— Add 00, Oven 17 . Low Close. ~Prev. 1931~ High. Low. 287 27% 2415 25 Staek ang Dividend Rate. Lake S Mines (1.20). Leh Coal & Nav 1.20. Lily Tulip Cup (1%) Lone Star Gas n $8c. “ 204 184 19% 16 it 1 a1 les— . High. Low. Close. 21 26% 260 22 22 3% 20% 20% 16% 16% P 22 20% 20% 16 ama_Pw 4155 '67 967 969, m Pw 4125 670 973 ma Pow 3% a Pow 3% Aluminum Co 5 3 Aluminum Ltd 5s 4Am Cmwih Pw 65 3 Amer EI Pow 6s A 79 Amer G & E ‘38 103% 1033, 168 1031 152 104% 481001 40 717 552028 9934 STOCKS. 50 Industrials. R: 1150 28 20 l'ltllmps. HELD GREAT SAVER Y 19 5 95 914 103% 100 L LY 5y A% 224 140 109% 18 BY JOHN A. CRONE. 8 Rally Just Before Midday Swings Prices Upward After Irregular Opening. Experts Declare Popularizing of Coins Would Reduce Time Loss and Waste. BY J. C. ROYLE. Week ago Month ago. Year ago. Two years ago Thyee years ago High, 1931. Low, 1931 High, 1930 30 High, 19 112% 106% Long Isld Lt of (7).. 10s LongIscupfB (6).. 1 y Loulsiana Lan & Ex. MacMarr Stores (1). 4 Magdalena Synd. ... 155 149 Marion Steam Shov. 108% 108% Mass Util Assoc. . 3 % 5 2% Mavis Bottling (A).. 3 M: lower Asso (2). 1 111 111 106 106 4Amer P & L 6s 2016 106 2 Amer Rad "47 101 30 Amer Roil M 41,5 '33 97'y 8 Amer Roll Miil 3s ' Seating 65 ppalach Gas 6s ppalac Gas 6s B ppalach Pow 55 Acfa ARseo......... 3 14 Ala Creat Sou pf(17) 108 90 Ala Pow pf (6 . 268 101% Alleg Gas. 12 Allted Mills (60c)... 1 4% Aluminum Co of Am 8505 149 Alu Co of Am pf (6). Am Austin Car, Am Captal. 3 1% 14 12% 90 .90 90 101% 101% 101% 2 2 2 4% 4y Donn» SR2TZ =338 Special Dispatch to The Star. NEW YORK. April 30.—A rally just before midday brought about increased bids, some perhaps due to short cover- ing, on the Curb Exchange today after an irregular opening. | Public utilities led this upswing, but | petroleums, if some cf the leading ! Standard Oil units be excepted, remained under pressure. Eiectric Bond & Share sained more than a point on the bulge and Cities Service was up almost half that amoun! ‘Vacuum and Imperial Oil stood out in the Standard Oil group. The fcrmer's sales are running less than 5 per cent | below the same period a year ago, which makes the management feel confident of maintaining the present dividend payment. Imperial OIl's business in the first quarter of 1931 was more than 20 s above the same 1930 period, cause of the early opening up cf roads and consequent increased gasoline de- mand. Previous to the rally a few of the ac- tive utilities, including Utilities Power & Light B, Tampa Electric and issues of a similar grade, eased to new lows for the year. This was true also of such! industrials as Singer Manufacturing. | American Laundry Machinery and Ford Motor of Canada. Declaration of the regular common quarterly dividend of 40 cents a share by Sherwin Willlams of Canada brought a fractional rally into that issue. The lrp!‘l‘lnu of a block of 10,000 shares of Prudential Investors at 10’ un- < , .was & noonday feature of in- vestment trust trading. ‘The vigorous rally of Vacuum and Imperial started extensive buying in the Standard Oil group during the third hour. which improved quotations of Humble Oll. Standard of Indiana and Standard of Kentucky. In the mis- cellaneous petroleums Gulf Oil came dangerously near its previous low be- fore showing signs of recovery, and In- dian Territory Illuminating A estab- lished a new minimum figure. lmfl::vmnt of the olls spread to the pipe and natural gas classifications. In the former Missouri-Kansas and Na- | tional Transit moved at a faster pace, while in 'the latter United Gas moved ahead. Memphis Natural Gas was slow to respond to its sales report. Specialiies moved through their usual wide swings. Northwestern "Yeast was down about 7 points and Park-r Rust Proof declined about haif that amount as Aluminum Co. of America swung back’ and forth in a 5-point range. (Copyri 1931.) o DRY GOODS MARKET NEW YORK, April 30 (Special).— Cotton markets were quiet today. Print cloth quotations were unchanged at 513 for 64 by 60s and at 6 for 68 by 72s. Raw silks were quiet and unchanged. CHICAGO STOCK MARKET By the Associated Press. CHICAGO, April 30.—Following is | the complete official list of transactions in stocks on the Chicago Stock Ex- change today: v Sales, . High. Low. Close Bases at Wash ndix Aviation -Wagner & W E380ar8E .8 LTS So8. 28025 By ¥ Eauseste s:ssitasnsats veereud ot 3358 L PRI Pt it S BanwslEels88a5 8, Boulacwasniie so38Eds Set¥ 580, 188 Totana Sui* 2160 fasult 01l f il 95 e 38,2t EIR IR 3 $sfEdats! BsE! [ ary eld McWilliams Dredg Metro Indus . Mickelberry's Food Mid West ULl ... Mid W Ut 6 pf A Mid W UL "B wi Mid} Nat Gas “A" Midiand United 100 Midland Unit war 10 Mid Ut 7% pl ... 350 Miller & Hart o1 Mo-Kans_Pipe 30 Monroe Chem 50 Morgan Litho 130 Musk_Mot_Bpe 200 Nat Elec Pow A . 20 Nat Elee ww pf . 300 Nat Famiyy st 10 Nat Pub Serv pf 50 Nat Secur Inv. . 00 cur Inv pi Bt e it R & 28! oy " & I e e TR oY 22,8885, va! Pines Winter 250 Public Serv n 20 Pub Berv 67 pf 10 Pub Serv 77 pf u QRS De_Viy 90 Quaker Oats 10 Quaker Oats DI 100 Ratiroad 8h.. 30 Reliance Intl 100 Reliance Mg 950 Saxet Co Beaboard Ut 1 Union Gas . 100 Stand Dredging and Di f 450 Buper Maid 1 wift & Co 1380 Switt intl 0 Tel Bond & Bhare 180 >hompson J R 4 );g'h eformer of Am': Twelfth 8t Store A | 350 Unit Corp of Amer 3 EenERac L L n Amer Ut 'ayne Pump com. . ayne Pump of -y P ) o Wil Oll-0-Matic s toda: 000 R A 0, “The Dom) bumper cacao crop inican Republic expects & this year. 6 3015 82 10 17 974 128 2 Tla 31 Am Capital B Am Capital pf Am CigarCo.... B AmCit PRL Bb10% ., Am Com P A (b10%) Am Com Pr B(b10%) Am Cyanamid B.. Am Dept Stores. Am Equities. Am For Pow Am Founders. Am Gas & Else (£1). Am Invest Inc (B).. Am Invest war.. . 7 Am Laundry Ma (3).225s Am Lt & Trac (2%). 20 Am Lt & Trpf (1%). Am Maracatbo...... Am St Pu Sve(al.60) < Am Superpcw (40c). 108 'y 30 23% “22u 1 893 _91% Ed 29% Am Superp pf (6) Am Superp 1st Am Thread pf (25¢) . Am Transformer. ... Am Utli&Gen (B)vte Am Yvette Co (25c). 9 Appalachian G: 82 i 1 43 3 Ark P & L pf (7) 108 Assoc El In Ltd 30 1 Asso Gas & Electric. 1 Asso Gas&El A (a2). b4 AssocG & Ealletfs. 1 Assoc G & El war. 4 Assoc G & E of (5).. 108 Asso G & El et (8)...100 Assoc Laundries. ... Assoc Tel Ut (b8%). Atlas Plywood (2) Atlas Util Corp... Atlas Utilitles war. . Auto Vot M ev pf ot. Aviation Cp of Am Aviation Securitles. . Bahia Corp......... Beneficial IL (1%).. Bickford's Inc pf 2% Slue Ridge Corp. . ... Blne Ridge cv pf ad.. Bohack (H C) (4). Bourjols InC........ EBower Roll Bear (1). Braz Tr & Lt (b8%). BurcoInc.....coooet Burco Inc Butler Bros. .. Bwana M Kubwa Cable Radio T vte. Canada Marconi Carib Syndicate Carnation Co (§1%4). Cent Hud G&E (80¢). Cent Pub SvcA b10% Cent Stat El (b10%). Cent St Ecv pfnaé. Centrifug Pipe (60c) Chat Ph Aln.v. (1) Chesebor Mfg (14%5) Childs Co pt (7) Citles Service (£30c) Citles Serv pf (6)... Clauda Neon Lts, Inc Colombia Syndicat Colon Ofl....... olts Pat Fire A 1% . Col Oil & Gas vie. ... Cmwlth Edison (8).. Cmwlth & Sou war Com Wat Sv (b6%). Comstock Tunnel Consol Afrcraft Consol Copper . Consol Dairy Prod. .. on Gas Balto (3.60). Cont Shares conv pf. Cooper Bessemer-.... Copeland PrIncA... Cord Corp. ......... Corroon & Reynolds. Cor & Rey pf A (6) Cosden Ofl Creole Petroleum Cresson Consol (4c).. Crocker Wheele: CrCork Int A (1).... Cuban Tob vtc (1%). Cus! Mex Mining.... Dayton Alr & Eng. Decca Record. . Deere & Co (1.20) De Forest Radlo. Derby Ofl Refining Detroit Afrcraft Cp.. DressSR A (3%). Dresser Mfg B (2)..- Driver Harris new. Dubilier Cond & Rad Duke Pow (5)....... Duquesne Gas Cp wi. Durant Motors...... Bagle Picher Lead. East G & F Assoc East St Pow B (1)... East Util Inv A. . Eisler Electrie Corp. Elec Bond & Sh (b6) . Elec B& Shecupf5.. Elec B & Sh pf (6)... Elec Pow Assoc (1) .. Elec Pow Asso A (1) Elec P & Lt op war. . Fl Sharehold (b8%). El Shareh pf (a6%) .. Emp Corporation. ... Emp G & E cu vf (7). Emp G & F cu pf (5) . Empire Pwr pt(2.24) Empire Pub Sve (A). urop E Ltd A (60c) Evans Wallow Lead. -cello Air & Tool. Fairey AviLtd 16¢ Fajardo Sugar..... Federated Capital. Federated Metals Fiat rets (94%e) Flintkote Co A. . Ford M Can A (1. Ford Mot 1.td 36 3-5e Ford M Ltd n 36 3-5¢ Foremost Dairy Pr.. Fox Theater CI A Gen Aviation. Gen Empire Cor Gen G&E cv pf B (6) 2008 Gen Petroleum...... 5 Gen The Eq cv pf(3). 100 Gerrard (SA) Co. . Glen Alden Coal (4).. Globe Underwr(15¢ ) Gold Seal Elec new. Golden Center. Goldman Sach T Gramaphne rets(pl). Gray Tel Pay Sta 13. 508 Gt At&Pac Tea nv(8) 108 GrtA&PTof (1).. 10s Great Nor Paper (3), 1 Guif Ollof Pa (1%). 32 Hamiiton rets Happiness Candy. Helena Rubenstein. . Hoilinger Gold(65c) . Huds=on Bay M& S .. Humble O1l (12%) Hydro Elec Scc 1.40. Hygrade Food Prod. 1N Pwr&lLtcupf(6). imp Oil of Can (50e) Indana Pipe Line (1) 1ha Ter Iliy ON A, Ind Ter I1hi Of] B. Industrial Finan ctfs Indus Fin cv pf (7). .600: Insull Inv (b6%).... ins Co ofNo Am 12% . Insurance Sec (10c). Intercontinent Petn. Int Petroleum (1) Int Saf Raz B (12 Int Superp (11.10) Int Utilities B. .. Interstate Equities. . inter Equ conv pf(3) irving Air Chute (1) Italian Suverpow A.. Jonas & N cum pf... Knott Corp (1)... Koppers G&C pf (6).1008 Lackawanna See (4) nwddunaSo vaumReneBanan 1 B T 3 1 5 2 124 144 128 1% [ 52 A% 550 7 * 12% 20 &% 214 280 91, an 7% 10% 102 3 3% Memph N G Co (60¢) Mesta Machine (2).. Met Chain Stores. Met Edison pf (6). Mexico Ohlo Ofl. Mid St Pet vtc B. Mid West Ut (b8%). Mid W Ut cv pf xw 6 Mid Roy ev pf (2)... Midland Unit (b6%) Miller & Sons (2)... Minne-Honey pf (6). Mo Kan P L (b10%). MoKanPLvtc..... Mock Judson Voehr. Mohawk Hud 1st (7)400, Mon WP P S pf 1% Nachman Spring Nat American Co. Nat Bd & S Corp (1). Nat Family Stores. .. Nat Fuel Gas (1). at Investors. at Pow & Lt pf (6). at PubSv A (1.60). at S T Sec A (350c) Nat Sugar N J (2) Nat Transit (1). Nat Union Radio 105 | 1075 PSSP IR PA » ). . ew Eng Pow pf (6) 100 New Eng T& T (8).. Newmont Min (4). N Y Tel pf (6%) 5 Niag-Hud Pow (80c) 13 Niag-Hud Pow A w.. Niag-Hud Pow B w. . Niag-Hud Pow Cw.. Niag $h Md (400). .. Niles-Bem-Pond (2). Nipissing (20¢). Nordon Corp Ltd Nor Am Aviat A war. Nor Am Util Sec..... or Kurop Oil Corp.. or St Pow A (8). or St Pow pf (6)... 10 Northw tCo 12) Novadel Agene (4).. Ohio Brass (B) (5).. Ohto Copper. . . 5 - Ollstocks Ltd A( Outboard Mot A. Outboard Motor B. .. Overseas Sec.... PacG&EI1stpf1%. Pac Pub Svc A(1.30). 45). Parker Rust Pr (3).. 1 Pennroad Corp (20¢) Penn Wat & Pow (3) Peop L & P A (2.40) Perryman Electric. . Philip Morris Inc. Phoenix Secur Corp.. Phoenix S Cpt (3)... Piedmont Hyd Eln w Pilot Rad Tube A... Pitney B P n (20¢) Pitts Plate GI (2). Plymouth Ol (1) Polymet Mfg . Producers Roy Corp. Prudential Invest... 11 Pub Util Hold war.. Pub Uti] Held Cp xw Pub Ut Hold cu pf(3) Pure Oil pf (6 Pyrene Mfg ( . Quaker Oats (17). Radio Products itainbow Lum PrA.. Rainbow Lum Pr B.. Reliable Stores Reliance Manag. Reybarn Co.. Reynolds Invest. Richfleld Oil Cal pf.. 1 Roan Antelope Min. . Rock Lt & P (30¢)... Root Ref cv pr pf. Rossia Int Corp. Royalty Corp pf. St Regis Paper (1) Salt Creek Of1 (28¢) . Salt Creek Pro(1.40). SaxetCo.....u... Seaboard Util (50¢) .. Secu Corp Gen (40c). & Lock & H (50¢).. Seiberling Rubbe; ~ERN=RaAN~D~ S1.1nd full pd (53%). Sentry Safety Cont.. 5 Shenandoah Corp. Shen Corp pf (al). Silica Gel ctfe. .. Singer Mfg (112%). Sisto Finance Corp. . Smith (A O) (2)..... South Penn Ofl (1) South CEdpf C1%.. SouthernNat Gas, Southld Royaity 60c. S W Gas Utilities. .. W Penn P&L (1). Spanish & Gen rcts. . Stand Invest cum pf. 5 Stand Motors. .o Stand Oil of Ky 1.60.. Stand Oil Nebr (2).. Stand O1l, Ohto (23%) and P & L pf (1) arrett Corp. . Starrett Corp pf (3). Stein(A) & Co (1.60), Stutz Motor (new).. Swift & Co (2). Swift Internat Taggart Corporation ‘Tampa Electric (32). Technicolor. Inec. ... Teck Hughes (60c). . Tobacco & All Stks. ‘Tran Con Air Tran Trans Lux DLP 8 Tri-Cont Corp war. .. Tri Utilities (31.20)., Ungerieider Fin Cp. . Un NatGas,Can t1.45 Union Oil Assoc (2). Init Corp war. nit Dry Docks. Unit Founde: Unit Gas Corp...... Unit Gas war Unit Gas pf (7 Unit Lt &Pwr A (1). Unit Lt&Pwr(B) (1) Unit Lt& Pwr pf (6). Unit Profit Sharing. . Unit Shoe Mach (2% ) U S Dairy (B)... U S Elec Power ww.. U S Foll (B) (50¢)... U S Inter Sec 15t pf.. U'S Lines of (1). U S Playing Card 2% Unit Stores. .. < Unit Verde Ext (2).. Uti] PALt(at1.02%). Ut P&L B(at1.02%). Utll & Ind...... Util & Ind pf Utllity Equities. ... Util Equity pf (5%). Vacuum (4). van Camp Pkg...... Vic Finan Corp(40c) Walgreen Co. . Walker (H) (1), Wayne Pump. . Wenden Copper-. .. West Auto S A (3) Williams R C (70¢). “Y” Oll & G 15% Zonite Products (1), Dividend nual payment. *Ex divi & Payable in cash or stock idend. _fPlus 8% in stock. tock. ) Plus 2% in stock, k % 10% 102 e | Mead Johnson (14).. 10 1 2 1 . 1 108 508 0 1 2 1 4 5 4 81 Penn Pw & Ltpt (7). 508 1 4 4 1 6 1 . A6 29 5 20 . 308 2 - H Sherwin Wil (t414).. 50s SouthCEdpfB1%. 15 . 50s Stand O1l of Ind (2).. 124 28 9 63 rates in dollars based on iast i 1Partly extra, b Payable in’ stock. Plus 6% In stock. us 10% in_stock. uarterly or semi 1Plus 4% in stock. e Adjustment hPlus 1% in m Plus 3% 1o 33% | stock’ n Plus 8% in stock. pPaid Iast year—no regular rate. By the Associated Press. NEW YORK, April 30—A bale last year's decline in the Fall, COPPER DROPS LOWEST |, The rice is the towest in more than FOR 27-YEAR PERIOD 27 years. ‘Trade circles reported there was prac- l tically no demand in the domestic mar- of | ket and that - copper has becn made in the domestic e am market at 9 | ing their price at 9%; cents, delivered. cents & pound, delivered, an eighth of & cent below the bottom of | Forelgn sales of the metal dropped ofi sharply todag, future, 23.37. St. Louls, 6.75. METAL MARKET. ! NEW YORK, April 30 (#).—Copper quiet; electrolytic, spot and future, 9%a 9';. Tiny easy; spot and nearby, 23. Iron quiet, unchanged. Lead quiet; spot, New York, 4.00; East 3.80. Louls, spot and future, 3.35, Antimony, Zinc easy; East St. 2 Benefic Ind_cv 68 7 Birm'ham_Gas 58 '39 1Bost & Me 6s m '3 41 Bost & Me 47, '61 J. 1Cap Adm_ 5< 3 Carolina P 28 Caterpiilar 11 Cent 1l B & 16Cent 11 P § 7 Cent Pow & 82 Cent Pub Ser 5135 G Lt s °5 10 Cent State Elec 55 ' 21 Cent St E1 8155 C 'S 3 Cent St P&L 5 24 Chi Dis Bl 41,5770 A 6 Chi Dis Elec 5's '35 3 Chic Ry cod 3s 2027 8 Cig St Rl 5158 A ities Service 5s les Service 53 Serv Gas 5'as it Ser Gas P 8¢ & 1 ' C ¢ & . omwh Comwh ¢ IS C ¢ ¢ C mwh Ed 4105 D ° Gas UL 6125 A um Pw 40,5 Cont G & E bs'A “ontinen Oil 5'as 3 Fisk Rubber 51z 5 Florida P & L o 5 Garlock Packs 6 21 Gatineau Pow 5s 2 Gatineat Pov 6% 5Gen Rey 65 A 5Gen Vendink 65 4 Gen Wal Wi 65 B 21 Georgia Power 58 32GHliette 8 Rar 5 i Glidden Co 5'2t 6 Guil Ol Pa 3% 37 BGuit Oll Pa 38 47 5 Hood Rubber 75 65 A Udson B M&S 68 ivgrade Fd 65 A 14 Indnap P&L 55 A 81nter Pw Sec 75 E 5 Intersta Power 3s 3Inves Co 5s A ‘47 TIowa Neb L&P 3¢ 5Jer Cen P&L'5s B 5Towa Pow&L 4125 6 Kanses Pow 55 A 7 Kelvinator 65 '8 xw 14 Ken Utilit 1st 8s ° 2 Kimberly Cla 53 A 4 Koppers G&C 5% 5 Kopper G&C 51.s 13 Libby MCN&L 58 5Lone Star Gas 8s 2 Long Isiand Lt 63 8La P&L 55 57 3 Manitoba Pw 5153 2 Mid West Ut 35 32 Mid West Ut 83 '33 id Weat Ut 55 ‘34 14 West Ut 55 ‘35 ilw El R&L 55 '7 1 3 o 2 3 2 2 1% 5 1 3 P &L 55 B 203 P S 55 78.. 7Iowa Neb LLP 83 25 Mat Steel £s ‘36, 3 Nevada Calif_ 35 4 New Eng G&E 5s Fo In 5i2s Falls Pow 65 Nor Stat Pow 4'3s No Sta Pw 6 2 Ohio Edison 5 Ohio Pow 41.s D Ohio Pow 55°B 70kla Gas & El 55 10Pac G & E 4.3 F 1Pac G'& Bl ' 6s 1 Pac Invet 55 A ‘A8 50 Pacific Pw & L 55 2 Pac West Ol 6'z8 il Pa Cen P&L 4145 10 Pacific Pub Ser 5% 1171 Penn P&L 4125 '81 3Penn P & L35 D 4 Penn Tel 55 C '60. 24 Peoples L & P 55 5t 4 BouL e A 9 30 66, 42 43 52 1 56 0 56. 41 % a5 i) 44 67 w 57 471014, 58 94 47 9814 9013 69. 100 43 981, 1018, 5810314 42105 k7] 45 3i ev ev ev ev 3 Nat Electric 51,9 778 Nat P&L 65 A'2026." 0. . 56 47, 48. 0. 980 ‘80 107 40 10124 61 56: 50 '3 5 & ] 52 36 wi 53 1 Phila Elec 5128 '72.. 6Phila Rap Tr s ' 8 Pieamt Si 6125 A ' 20 Pitts_ Coal Co 6s 2 Potomac Ed 53 E 5Pow Co N 3 43, a5 A aw W&P 418 D aw W&P 55 C E P&L 65 A 202 uth Calii’ Ed 55 outh Calif Ed 02 60 4 56, 67 70 South Calif Ed 5, '3 6 Sou Calit Gas 4125 5Sthw Dal Pr 6'a3 1 Southw G&E. 5 Staley Miz 6s 4 Stand S&E 65 88iandard P&L 6s 3Sun Pipe 2 Buper of 1li 5 8wift Co Mexas P&L 5 Tri UL 8s 79 cv 0 Union_Gulf 5s 'S0, 10Dt P& L 558 '39. 14Uni Lt & Ry 5138 52 30m & Ry 8 10 Unit P & = 5U S Rub 6'2s ° 17 8 Rub 6'zs 30U S Rubber s 10 Va 3 Va 9Va Pb Ser 5iss A 0 W 5 Webster Mil 5w Rt 1 Agr Mtg Ba 3 Bogota Mtg 3 Bogot M Bk 1 Buen Air Proy 10 Buen Air Pr 1 Burmels & Wn 1Cent Bk Ger 6s A 5 Cent Bk Co 65 B 52 Warren Bros 6s '41.. 93 ° vash W & Pow 5s ‘60 104's 40. 52 4Chile Mtz Bk 65 '3i 8Com Pr BK 5'us 33 Danish Con 5145 55 S Eur El Cp 6'25 65 3 Europ Mte is C ' 2Finld R M_Bk 6s 14 Ger Cons Mun 6s 30 Ger Cors Mun 7s 1 Gesfueral 65 1Hun It B Tiss Al 1 Nippon El P 6iss a Brazil s Elec 6s 54 Jan 6ius 5 Ruhr G Co 628 A 1 Ruhr Hous 6igs 5 Russian 5iys 2 18axon Pub Wk 5s 1 8tinnes 7s 1 8tinnes 7s 3Terni Soc 6%s A 1Unit El Ser 75 '56 2Unit Indust 6'ss " ww—With warrants. xw. n—New. wi—When issued. . BALTIMORE xw 67 8 47 47 53 ww 36 xw... 46 xw 53 821, xw 9014 4L 83% Without warrants, STOCKS. Speciai Dispatch to the Star. BALTIMORE, April 30- Sales. STOCKS. 75 Arundel Corporation 1728 Baltimore Trust Co 10 Berliner-Joyce Airc raft Co com 275 Black & Decker com...... 12 Consolidated Gas_com_ . 5 Fidelity & Guar Pi| re Co 20 Finance ‘Co of America 150 Finance Service pfd. 40 Pirst National Ban 120 Houston Oil pfd 163 Maryland Casuaity 43 Mercy 15 Merchants & Co. tile Trust Co... Miners T 8 Mt Ver-Woodbury Mills 31 New _Amsterdam Cas C 25Pa Water & Power 44 Union Trust Co 200 United Railway & Electric 12U Fidelity & Guaranty. BOND! 3000 North Avenue Market 65 2000 United Rwy & Elec 15t 480) 4000 United Ry & Elec income 45 1013 S «[on the average lev | of the lowest Low, 1 BONDS. 10 Industrials, WY o0 i Previous day Week ago Month ago. . Year ago..... Two years ago. .. Three years ago High, 1931. Low, 1931 Low, 1929 * sht, 1931, Sta 'REVIEW SHOWS B DROPPED STEADILY IN APRIL Brought Average p | Special Dispatch to The Star NEW YORK, April 30.—Throughout | April the bond market dropped steadily | from new low to new low until its aver- age decline was brought to withiz: a point levels of last December. Measured by Standard Statistics' index of 30 representatf™ bonds, which is based s of 1926 adjusted to 100, the market's level at the end pared with 1930. In the month, on the scale of the same index, the decline amounted to about 1'; points. That the decline was so narrow was due to the great firmness of high-grade descriptions, which have responded with successive new high prices to the con- tinued cheapness of money. Junior securities, just as a year ago were the wide losers. After a tempo- rary period of optimism in January and February, when some faint signs of a revival ‘were reported in the world's commodity markets and in American | business, the picture again assumed a dismal look as first-quarter earnings and completed 1930 reports revealed little basis for belief that trade activity | was on the upturn. Rail Stocks Dropped Sharply. Domestic rafiroad and industrial bonds of the class affected by earnings dropped sharply in reflection of the 35 to 44 per cent reduction in 1930 earn- ings and the failure of early 1931 re- ports to show any change in the situa- |tion. Many railroad issues, notably those of the St. Louis-San Franciso. the Missouri Pacific and the Mobile & Ohio, dropped 10 to 15 points when it became evident that' their earnings would no longer permit their inclusion in list of bonds legal for investment by savings banks and trust funds. as readily in response to reduced earn- ings and the evident inability of the industry to make any restrictive scheme effective outside of the United States. Amusement companies showed poor condition reports, and their bonds drop- ped to levels commonly referred to as receivership prices. Bonds of copper concerns, sugar companies, automobile manufacturers, cement producers, news- paper publishers, traction companies and many other classifications in the industrial list sold down. Only one group was exempt from this general movement. The bonds of the public utilities held strongly or ad- vanced. Their earnings were firm or higher in most cases both for the year 1930 and for the first quarter of 1931. ‘The factors favorable to an advance in bond prices—the increased purchas- ing power of the dollar owing to the 20 per cent, decrease in commodity prices since 1929, the continued ease of money rates and the huge backlog of public savings—kept prime issues moving up- ward, The now accepted leaders of the investment market, American Telephone & Telegraph and other high-grade pub- Hc utility bonds, climbed to a 4.50 per cent yield basis. Seasoned rallroad bonds of unquestioned merit, like At- chison general 4s and Norfolk & West- ern 4s, advanced until their yields were only a shade above 4 per cent. United States Government bonds and munici- pal issues moved to their best prices of the year. No Further Response. This demand for high-grade bonds was such that when near the end of the month the Federal Reserve Bank re- duced its bill buying rate, thus intimat- ing another rediscount rate reduction and confirming the determination of the authorities that cheap money should in advance and there was no appre- ciable further response. In the foreign department a com- parable situation existed. The bonds of France, Britain and the Scandinavian countries—the cream of the foreign list —were in demand and their prices re- mained firm. But in all other direc- tions weakness of some degree charac- bonds was entirely offset. Brazilian bonds, affected by the low- est price for coffee in 28 years and by uncertainty as to the ability of the new Rio government to hold its grip, were heavily liquidated. The comparatively conservative Argentine group dropped 5 to 6 points when the elections in a single province went against President Uriburo's government. Uruguyan de- scriptions dropped heavily on reports that the republic's government had opened negotiations in Europe lookihg to aid in servicing its sterling loans, even though the May 1 service on the 6 per cent bonds was on deposit in New York on April 23. Chilean, Colombian and other South American issues drop- ped also. In Australia the Commonwealth Bank refused a further overdraft to the fed- eral government, and the government- owned New South Wales Savings Bank suspended payment. There was an im- mediate decline in Australian dollar bonds on both occasions. Elsewhere in the foreign list move- ments were smaller and the fact that declines predominated was a mirroring of the general poor condition of bus- iness rather than of any particular sit- uation. Spain’s- reversion to a repub- lican form of government created little disturbance, except in quotations of the | peseta. No Spanish dollar bonds have been issued. $515,838,000 New Issues. In April new bond offerings amount- ed to $515,838,000, of which over $400,- 000,000 was put out in the first two weeks of the month. At the time a condition of oversupply existed and some issues, notably the New York Central 4';s and Pennsylvania 43:s, dropped to discounts when syndicate bids were removed. The total of $515,~ 838,000 compares with $689,309,882 in March and $696,458,631 in April, 1930. For the first four months of the year to date bond financing has totaled $2,- 003,550,912, compared with $2,564,925,. 584 in the first four months of 1930. Though this shows a large reduction in offerings, it is not nearly as wide ss ' the decline In stock offerings, which ‘' Decline From New Of Dccemb of the month was just under 95, com- | 100 at the end of April | continue, the list had discounted it far | terized the month's movement. The ad- | vance early this year in foreign dollar | Ehean ndard Statistics Co.) OND MARKET Low to New Low rice Within a Point er Record. totaled less than $85,000,000 for the first four menths of this year, compared with over $700,000,000 in the same period of 1930. The future as to the foreign list is uncertain. Sir Otto Niemeyer's investi- gations in Brazil afid the work of the ‘The Treasury and Commerce Depart- ments, nationally known financiers, merchants and experts in distribution feel that this is a period of change and say emphatically it should be a period of small change. The wider use of the smaller silver and nickel and T currency, they assert, would cut dis- tribution waste $500,000,000 & year through the saving of time. In this case the old maxim, “Time is money,” is concretely as well as abstractly true. The experts point out that millions of hours of time are wasted through the making of change and waiting for change and that if each individual had the exact change to pay for minor pur- chases and needs, labor costs would be reduced, transactions speeded up, de- lays avolded and congestion obviated This they say would require only a minor change in the habits of the American people It i3 estimated by currency experts that all this could be accomplished if each individual able to do so made a habit of carrying $2.50 to $3 in half dollars, quarters, dimes. nickels and pennies instead of carrying the same amount in the form of one dollar or two dollar bills. Would Stabilize Silver. ‘Treasury officials agree to the asser- tion that if this change were put into effect, it would have the effect of bringing stability to the silver market in a large degree. It is admitted that the drop in silver prices has been detri- mental to all trade at home and abroad. Charles Dewey, former As- sistant Secretary of the Treasury and now financial advisor to Poland, made a vigorous attempt while in the de- partment to popularize the carrying of silver, but he devoted his efforts to the silver dollar. which was bulky, hea Kemmerer commission in Peru and elsewhere have not as yet resulted in any definite proposals. Dollar bonds to the amount of over $1500.000,000 re outstanding against the credit of | South American republics. ~Some of | these will possibly be met in full, but it | is becoming increasingly evident that | there will have to be some compromise | agreements made, as has been done in | the case of Mexico. The domestic market, for the im- mediate future, I8 ovi | uncertainty in regard to the general business situation and the action of stocks, and by the fact that virtually no | investors can be found who are willing to place their monfl( in_anything but | gilt-edged bonds. 'he United States Government is able to borrow at record |rates In such a market and will un- | doubtedly have to-do some heavy bor- rowing during May and June to cover |its deficit. Municipalities whose se- curities are in demand and whose bor- rowings usually find their way into | business via water, road, highway, sewer and similar contracts do not show any disposition to issue bonds as fast as the market can absorb them. A | still higher range of municipal bond | prices is seen. | (Copyrignt. 1931.) | | Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., April 30.—Pota- potatoes, barrel, 4.00a6.50; sweet pota- toes, barrel, 2.0084.00; yams, barr 3.25a4.00; beans, _bushel, 1.75a3.2! beets, crate, 2.2582.50; cabbage, bushel, 50a1.50; carrots, bushel, 60a75; cauli- flower, crate, 2.25a2.50; celery, crate, 1.75a3.00; eggplant, crate, 2.00a4.50; kale, bushel, 20ad0; lettuce, hamper, 1.25a2.00; lima beans, 6.00a7.00; pep- pers, crate, 2.00a5.00; spinach, bushel, 2.00a5.00; tomatoes, crate, 1.00a5.00 apples, bushel, 75a2.25; per box, 1.75a 2.50; grapefruit, box, 1.50a2.75: oranges, box, 2.75a4.25; strawberries, quart, 20a 30. Dairy Market. Poultry, alive—Chickens, young, 30a 40; old hens, 21a24; Leghorns, 19a20; roosters, 14al5; ducks, 18a28; guinea fowl, each, 50a75; pigeons, pair, 30a35. Eggs—Receipts, 2,215 cases; nearby ?gsu. dozen, 16%2al7; current receipts, 15, Butter—Good 1o faney creamery, pound, 24a26; ladles, 20a21; rolls, 16al process, 22a23; store packed, 14al15, Hay and Grain. Special Dispatch to The 81 ‘Wheat—No_ 2 red Winter, export, 831, No. 2 red Winter, garlicky, spot, 8312; April, 2415; May, 83%. Corn—No. 2 domestic, yellow, 71a72; cob, 3.75a4.00. Oats—White, No. 2, 37a38; No. 3, 36a37. Rye—Nearby, 55a60. Hay—Receipts, 11 tons. While re- ceipts of hay are ample for all re- quirements there is no surpius of heavy clover mixed being offered. Such grades will bring a premium of $1 to $3 per ton, depending on the amount of clover. Fair to good timothy ranges from $24 to $26 per ton. Straw—Wheat straw, No. 1, per ton, {12.00a13.00. Oat straw, No. 1, per ton, 12.00a13.00. Live Stock Market. Cattle—Receipts, 100 head; light sup- ply: market steady. Steers—Choice to prime, none; good to choice, 8.00a8.50; medium to good, fair to medium, 6.25a7.00; plain to falr, 5.50a6.00; common 10 | plain, 5.00a5.50. Bulls—Choice to prime, none; good to_choice, none; medium to good, 5.00a 5.50; fair to medium, 4.50a5.00; plain to fair, 4.00a4.50; common to plain, 3.50a4.00. Cows—Choice to prime, none; good to choice, nofe; medium to good, 4.50a 5.00; fair to medium, 4.00a4.50; plain to fair, 3.00a4.00; common to plain, 2.00a3.00. | Helfers—Choice to prime, none; good to choice, none: medium to good, 6.75a 7.25; fair to medium, 6.00a7.75; plain to_fair, 5.25a6.00; common to plain, 4.50a5.25. _mz:)uh cows and springers, 30.00a Sheep and lambs—Receipts, 100 head: light supply; market steady. Sheep, 1.5024.00; lambs, 4.50a10.50. Hogs—Recelpts, 600 head: light sup- ply: market steady. Lights, 7.75a8.00; heavies, 6.75a7.75; medium, 7.7528.00; roughs, 4.75a6.25; light pigs, 7.50a7.75; pigs, 7.75a8.00. Calves—Receipts, 75 head: light sup- ply; market steady., Calves, 4.00a9.00. CHICAGO POTATO MARKET. CHICAGO, April 30 (#)—Potatoes— Receipts, 132 cars; on track, 296; total U. S. shipments, 957; old stock weak; trading slow: sacked, per cwt., Wiscon- sin round whites, 1.30a1.45; Minnesota, 1.15a1.30; Idaho russets, No. 1, 1.50a 1.60, occasional fancy higher; commer- cials mostly 1.35; Colorado McClures, 1.90a1.95; New York stock very weak, trading fal ‘Texas sacked Bl “Tri- umphs, best, 3.7524.00; small to medi- um, 3.00a3.50; No. 2, 2.00a2.25; Florida, barrel, Bliss Triumphs, 6.50; Spalding Rose, 6.00; Louisiana sacked Bliss Tri- umphs, No. 1, 3.25; No, 2, 2.25, RUBBER MARKET. NEW YORK, April 30 (Special) Crude rubber, smoked ribbed sheets, was unchanged at today’s noon quotation of 6 cents. This compares with 7'; a month ago ald, 4% & vear ago. Omg{h of the North tryl 0 leain the cause ol myster fires on many fi and unpopular. His efforts failed, but none has been known to ex keen aversion to the possession of half dol- lars. quarters and dimes. The present amount of currency in circulation, including bills, silver, nickel and copper, is $37 per capita, accord- ing to the Treasury. ‘person changed three one-dollar bills, it would mean the additional purchase of ap- fixlmuuly 200,000,000 ounces of ‘silver. at amount removed from world mar- kets undoubtedly would give the white metal a boost. The Treasury at present has over 400,000,000 ounces of silver in its vaults, but this could not be touched since it is deposited against the issue of silver certificates. Advance in the price of silver would revivify trade with the Orient, improve demand for American goods from Mex- ico and improve earnings of domestic mning companies. W. O. Woods, treas- urer of the United States, declares that the change to the habit of carrying small coins would result in the savings of millions to the Government in the cost of printing one and two dollar bills, which wear out quickly and which must be replaced at great cost and trouble, About $10,000,000 a day reaches the Treasury in paper currency tagged for retirement and replacement. Since July, 1929, when the first of the small sized currency was put into circula- tion, over 100,000,000 separate notes |have been printed and issued, The coins far outlast the notes exeept in the case of notes of very high denomi- Oil company obligations moved down | tses white, 100 pounds, 1.2582.00; new | Pation, which in reality are not gen- erally handled by the public. ‘The bankers of the country long have advocated that every one pay as they and now they are urging that they ve the exact amount ready. This has worked excellently for street ‘edrs, busses and subways and in the use of automatic ven machines. The mer- chants are coming to the belief that :h%y have nverh‘mkcd a ;t.cur in ml nd are beginning to establish” change booths. It is esttmated that much of the traffic trouble from the use of taxi- cabs comes from delay in making change, (Copyright, 1931.) NEW YORK COTTON. NEW YORK, April 30 (#).—A re- newal of liquidation and more or less general selling, although it was mostly in small lots, sent cotton pricés to new low records for the season today. b‘nemx 1“ mx:wvepoomulyg“fiu a y relatively easy n the earlier weakness in the stock mlfi ket, while some stop orders were uncov- ered on the decline, which extended to 9.87 for July, or abount 18 to 21 points net lower. Offerings tapered off later, while coyering or buying for an upward reaction was promoted by reports of a steadier tone in stocks, and the mid- afternoon market was quiet and steady at rallies of some 9 or 12 points. Futures closed barely s , 7 to 10 points lower; May, 589.78; July, 9.97 29.98; October, 10.34; December, 10.57a 10.58; January,- 10.69: March, 10.89. Spot, quiet; middling, 9.75. May July Octover” ", December . January March L TR g s CHICAGO GRAIN MARKET. By the Associated Press. CHICAGO, April 30.—Wheat prices bulged late today, influenced by ap- parent likelihood that France would further enlarge the amount of foreign wheat allowed for mixture with home- :r:vr: wheat. 51?11: United States cheat was reported purchaséd by France. For the first time since last August no Russian exports of wheat were announced. EAT— Low. Close (old) 81, May (new) 4 Bepterbe Dlenber December RN- May Told) May (new) July ... September December OATS May (old). May (new) July ... September December RYE— May (old). May (new) July September . Deeember 2 NEW YORK BANK STOCKS NEW YORK, April 30 (#).—Bank stocks: High. 813, 83 an American ... Bk of U 8 Units Chase ... Chat Phenix . City . 5 Fifth First N Harrh Manhat Co ... Peoples Nationai . Tra Banca Comm Ital Bankers Bk N Y & Tr Cent Hanover Chem Bk & Tr Corn_Exchange County . Guaranty " Hibernia .10 Irving Manufac Companies, TREASURY CERTIFICATES. (Reported by J. & W. Selisman & o) e Hiatuity, 100 PSF 1345 June 15, 1% 333 2%s Sept. 15, 100 13.32 tus B &S 180 133 2" Mar. 18, 00 3 3'as Dec. 18, 101 16-32 Lieere 100 8- 930" 100 1-: o1 100 11-32 % 101 14-32 Many small homes are being buils in Havana, ‘Cuba, %7