Evening Star Newspaper, May 1, 1931, Page 14

FINANCIAL NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. S Rk Int Cemenpt §: 89% Int & Gr Nor 24 int Pap 6s 5| 56% e = 70 CONVENE HERE -43.. 30 10129 10128 10128 jales, mn-. Low. Close. THE EVENING . STAR, WASHINGTON, D. C. FRIDAY, "MAY 1 1931 " FINANCIAL. LIFTS BOND PRICES),... =g ld-. nl Close. mbl%!l!-fl 20 101 Sl IDI sn 101 30 Lilst4lgs32-47. 96 102 31 102 28 10231 & Unusual Strength of Brazil|v usm.u 477 102 8 1024 102 8 st |Convention Plans Being S3%s 46-51 10 106 10 106 10 106 10 4 7s and 8s Feature i 8| Pushed by Specail Commit- 0% M BUYING MOVEMENT MBONDS:_I“M EXPERT RETAILERS blthdulil-al 57 104 4104 2104 2 l‘ Vld&lfl 52.. 41 11216 11213 11216, Day’s Market. Ry s o 3 8 tee of Local Merchants. “How to Make Merchandising More Profitable,” “'X‘be Problun of the Olflu' Empioye” and le Freedom™ 'lll be the ics Idr general session of the con= Continued From h" 3 Bales— Prev. _(__—-_.__“)_. High, nmuumu. Add 00, Migh. _Low. Close. Close. idend mnumn-m Susesens 24% 21% 21% 23% Ry (8).. 0% U. S. Chamber of Commerce s Myer (FE) &Br (l). 39 . 50% uw. Stand Brands (1.20). Y "l;“ Nat Biscuit pf (7) Stand O11 Cal (h2%). A7% Special Dispatch to The Star. GR“UP HE[B NEED ~PFrev. 1031 ‘Stock and ¥ 4w s Mullins Mfg pf (7).. BOI 60 60 60 115 lll . 4 Told of Desire for Body to o 2 : 1 5 StandG&E (3%)... 200k Nat Cash Register A, 21 lozu Stand Oi1 Exp pf (5). NEW YORK, May 1—Bonds ad-|A! BY JOHN F. SINCLAIR. ATLANTIC CITY, N. J., May 1 (N.A. N.A).—The Sherman anti-trust law re- L lmn Low. Diviy Rate. A«oo.mnn. Low. Close. mo-. 86 l 36% 36 0% Murray Corp. 18% 1% 12 8 % 39 39 5% Splegel-May-Stern oresee Legal Status o . i Nat Biacutt (380 mu Stand G & B pf (7). 05t 104% BY F. H. RICHARDSON. l2 83% Stand OIINJ (12)... 4 17% Stand Ofl N Y (1.60). 2% Sterling Sec A....... Nat Dept Strs 1st(4). co- e e Nat Dist Prod (2)... 18 33 ceived much attention at the annual meeting of the United States Chamber of Commerce here yesterday. The law, as it now exists, was both criticized and defended, but no one suggested that it be abolished. Rush C. Butler, chairman of the Commerce Committee of the American Bar Assoclation, made much of the vagueness of the law, as did others. Fear that any co-operative action in the ‘way of regulating production and prices might expose them to criminal action under the Sherman law, even though they acted in good faith, deterred busi- ness men from sound and desirable common action, he said. He pointed out that the Deplrmcnl of Justice and the Federal Trade Commlulon were prosecuting bodies and were unable to give business men previous advice on the legality of their action. A Govern- ment body to advise industrialists is an urgent need today. This view was closely seconded by Goldthwaite S. Dorr, New York attor- ney, who recommended the passage by of declaratory definitions. thean would help them to judge whether & likely to be regarded u Illegnl or not by the Government. The spirit of the anti-trust law 1s right, but it must be ld!\lsud to meet modern conditions, thinks Willlam S, Bennet of Chicago, vice president of the Edward Hines Lumber Co. This is especially important in the conservation of natural resources, where waste can only be prevented by combined action. . Carroll Todd, former assistant to attorney general, explained the :holce lay between unregulated compe- tition and a controlled system. While other speakers attacked the indefinite- ness of the anti-trust law, he reminded them that all laws have a fringe of doubt. The only way to clarify this was through the slow process of judicial de- cisicns. The present situation in this fleld is not a6 bad as has been painted, ‘was Mr. Todd's conclusion. How the Northwest is somnl lt.s farm problems was described E. Murphy, publisher of the mnnnpv)la “Tribunz. Throwing aside the old policy c( the single crop—-v.heab—-'.he farmers this part of the country have adopt- ¢d additional farm products, especially live stock. “Good farming with god live mwx. has become their slogan and it has carried them through the present crisis ccmparatively well. Since the prices of raw farm products, such as wheat and cotton fluctuate, sometimes violently, they hlv: selected other types of of being the farmers of the Northwest, ‘I;hyfl\l; live stock program, are profiting “The cow, the sow, and the little red hfnlmmsmnln".hzvnolemc o X M. B. Folson, Eastman Kodak of- ficial, told how the problem of em- ent stabilization had been met 3 Rochester n insurance. of “guaranteed employ- was briefly explained by l{ R. Idem ol Procu{r &f Gl.'l;:; -yntzm sales for year are uttmlud then the produc- tion year is divided into 49 weeks. ‘The -concern then operates on a uni- form production all year round. Since neither sales nor shipments are uni- form, any excess is stored in the ware- house and drawn upon when demand increases, ‘This would seem to be an excellent plan for commodities always in substantial demand, although it calls for expert analysis of business trends to_gauge the year's production closely. Mr. Deupree suggested that business men can do much without any help from the Government. “If a plan could be worked out, even though it is not 100 per cent of your shop, wherein you can guarantee steady employment, you will probably find that management is benefited, at least as much, if not more than ‘While it m2y be necessary for gress to change some of its laws (and I think it is), so that industry as a whole can regulate prcduction itself, and avoid its terrific peaks and valleys, I don't think we have to wait for that” said Mr. Deupree. “Production greater than ever, invest- ments at the peak, consumption at the minimum, and ne way to let loose.” _In these dramatic words, A. C. Dixon, president of the National Lumber Man- ufacturers’ Association, summed up the present_condition of the lumber indus- try. This Western lumberman wants the entire Nation to know that there's plenty of lumber left in the country; that the worry over the depletion of | Jumber started over 200 years ago, and still continues. Yet tl more lum- ber in sight than ever bofm'e He, too, advocates a balanced produc- tion to meet demand. “I would like have the industry given the legal fl'ht to try for better production control on & worth-while scale.” But how? 4 modification of the Sherman anti- truse law “to protect ourselves and im- prove the présent destructive competi- tive conditions” is an absolute neces- sity, he warns, control and reserves set aside for de- pressiol Proposals for sales taxes, or a gen- eral sales tax, were vigorously assalled by B. Earl Puckett, president of Fred- erick Loeser & Co. of Brooklyn, N. Y. ‘The false argument back of the sales tax theory is that, since all taxes are passed along to the consumer, consum- ers pay all taxes. Thus we might just as well lump all taxes into a general sales tax and be done with it! ‘This is a flimsy plece of reasoning. Sygh a step would remove the tax levied on such items as land and ‘natural re: sourees. This would slow down their expleluuan now necessary to vgulbh above the tax charge. nited States is hearing a good ~deal about wages and wage cuts, lll:ut a nhln' of wages by re-' ual purchasing power o dufln&flh in % “Real other .words, would be re- here, to Mr. Puckett, very wages. 1o the fact that admin- general kales tax make $10,301, equal woud [ share th 1930. Nat Supply (4). Surety (5). N ' Tex & Mex (7). Newport Co (1)..... Newton Steel. . . i N Y Air Brake (1.60). N Y Central (6)..... NYCM&S(L(C).. NY& %) 4 Noranda Mine: Norf & West ( Norf & West f (4 Nor Am (b10% stk) North Amer pf (3).. Northern Pacifle (5). Norwalk Tire & Rub. Oh1o Ofl (1)uuveunns Oliver Farm Equip. Oliv Farm Eq pr pf.. Omnibus Corp. .../ Otis Elevator (23). Otis Steel pr pf (7).. Owens 111 Glass (2). Pacific Gas & El (2).. Pacific Lighting (3). Pacific Tei & Tel (7). Packard Motor (40c) Panhandle P& R pf. 3 Penney (J C) (2.40).. Penn Dixie Coment. . Penn RR (4)scseeees Peoples DS pf (6%). Peop Gas Ch (8).... Peoria & Eastern... Pere Marq pf (5).... Pere Marq pr pf (5). Petrolm Cp of Am1) Phelps Dodge (2)... Phil Read C & . Phillips-Jones pf (7) Phillips Petroletim. . Phoenix Hos pf (7).. Pierce Petrolm (10c) Pillsbury Flour (2)., Pittsburgh Coal pt. Pitts & W Va (6). Prairie Oil & Gas ll) Prairie Plpe L (3)... Pressed Steel Car.... Proct & Gamb (2.40) 1 Proc & Gamb pf (5). lfll PubSvNJpt Pullman Corp (4). Punta Aleg Sug ct! Pure Oil. . Pure Ofl pf Purity Bakeries manmxuumn A Mfl RR Sec 1C stk C (4).1308 Raybestos Man 2.60.. Reading Ry (4). Reading 1st pf (2)..." 4 Real Silk Hos(b10%) 5 Remington-Rand.... 29 Reo Motor Car (40¢). 9 Republic Steel. . 88 Republic Steel pf.... 4 Reynolds Metals (2). 15 Reynolds Tob A (3). 20s Reynolds Tob B (3).. 1: Roy Dtch(m1.3404).. Safeway Stores (5). Safeway pf (6)...... Safeway Strs pf (7). lfil St Joseph Lead (1).. 18 St Louis & San Fran. 12 St L Southwest pf... Savage Arms (2). Schuite Retall Strs.. Seaboard Air Line. % Seagrave (60c). Sears Roebuck 32% Seneca Copper. Servel Inc. . Sharp & Dohm Shattuck F G ('l“) Shell Union Ofl..... 167 Shell Un O1l pf (6%) 4 Sinclair Con Ofl (1) Skelly Ofl....... Skelly Oil pf (6) Sloss Sheffield Steel. Sloss Sheffield St pf. lun SniGer Packing..... Solvay Am pf ww 6% 1 m South Pbrt Rico Sug. 961 Sou P Ric Sug pf (8) w0 42% South Cal Ed (3).... 15 10:30 AM. o 8 Tpit of tradin 4% 1n stock. JPayabl % 11% 10% | yeareno esulat Tate, 103 108 |§5s7eb) “ 4 £ Plus 27 1 stoc U S Steel (7). 107 120 U S Steel pf (7) 1 Unit Stores A.. L 4 T% Unit Stores pf (4) 48 Univ Leaf Tob (3)... 35% Univ Pic 1st pf (8).. 32 Univ Pipe & Rad. 2% Utll P&EL A (ot2.] ll). 180 23% le in cash of stoc 10% Stewart Warner..... 35% Stone & Webster (3 18% Studebaker (1.20)... Studebaker Cp pf (7) Sun Of1 (11). 3 36% Superheater ( SSK Superior Oil 1 % 6% Superior St Y mx Symington A. 3% autograph (1.40). 18% nessee Corp(50c) 4 6% 8 Corp (3).eeae: 1 22% % 112\6 40% 4 1% IEK Thatcher Mfg (1.60). 14% The Fair (2.40) 19% % ‘Thompson (J 23 Thompson Prod 1.20, 12% Thompson Starrett 1 5% b1 8% Timken Roller (3 ‘Tobacco Product, 3 3% Tobacco Prod A 1 2 12 9% Tri-Cont Corp Trico Products(2%). Twin City RTr (§4). 6 Twin City R T pf (7) 10l Ulen & Co (1.60)... 14% % b8 108% 26% 8% 21% 43 9% Leath pr pt (7) Plpe & F Realty & Imp(2) 2014 Rubber.... 3 X 14% €2).... 25% 24% 15% 146% ,, Vanadium Corp'n. Va Elec & Pwr pt (6. Vulcan Det 32% | of the movement. The Norfolk & Wests | Can Nat 5870, ,“ ern announced today that $7, nsnoo of | Can Nor 6345 db *46 % 20 23% 2% 3% 30 Wess O] & Snow 3 % Y 22 West Pa El pf (7) Western Dairy (A 4% guw—n Dairy B lom ll% 21 18 26% 63 Westing E&M pt (4). 408 91 Wollon El Instr (1).. 20 1 24 70 17 4 26 61% Worthington Pump.. 412 63% Wrigley (Wm) (4. Yale & Towne (2) Yellow Truck. . Youngs Spring Sales of Stocks on New York Exchange. 300.000 | 12:00 Noon. l'looolm l n PM. 1,200,000 2'000,000 en 00 Tadele Qharterty or beiseathy"adminna! Jess than 100 shares. tPartly extrs. sPlus in_scrij 9% last b Payable K o Elu 3 Pl Erre TES stoek."m Eaid thix yeareng regular rate. n Plus 5% CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS By the Associated Press. NEW YORK, May 1.—The follow- ing is & summary of important corpora- tion mnews prepared by the Standard Statistics Co., Inc., New York, for the Assoclated Press: News Trend. Dividend action and quarterly report | oft Bethlehem Steel, released late yes- ]urdly. were awaited with considerable interest by the financial community. The dividend declaration was $1 for the quarter, reduced from $1.50 paid in previous fl\‘llntr:' ‘The quarter's ears- ings were 6 cents a share. ‘B‘rnnn loans for the week emm Wednesday declined mamm total of $1,730,000,000, almost down (0 ey s Aithough this drop, on Joans rual ou op O is P e, some such report had bern ex- after the extended fall of se- curity prices and the relatively small fall in loans last week. Further weakness in refined eog prices -zlln aj 's from reports ti some metal been sold at 93 ks n pound 3, cent under previous levels. 0 large qummy appears to have been Ofleud at this price. The agreement reported between the Pennsylvania and the Van Sweringens over disputed trackage rights over the Lehigh Vlllty Rallroad serves to in- crease the pmb-bmty of early presen- tation of a finished Eastern rail con- solidation plan m the Interstate Com- merce Commission. March registrations in 46 States by Ford and by Chevrolet were within 400 units of each other, relatively close to- gether, with the ter galn for the month shown by L The Companies. - Ann Arbor Railroad—March ol defici o nst _net Fe mu;‘a cents preferred ka & Santa Fe Ralil- le.umnuthelm- . ntmm&o::&nthnllumone "’!:‘;l':fln.’lzu s m lication in that part of our ey . which hn%‘mfl. badly economic ! broken mmbtrflmuon 1 yright, 1931, by North American News- g @ b 10 iper Alliances ts ptopoul (or joint entry wlu: Missourt. Pacific umont, Sour 'Lake & Western; Gulf, Coloflflfl ‘& Santa and Sabin Basin Railroad 7 Nechas district at Beaumont and Port ur, Tex. Bush, Terminal March quarter com- :fl’a share earnings, 85 cents, against Central Rallroad of New Jersey—Eliz- Rolling Muls—lllrch quarter deficit, $67,048, against net income be- fore Federal taxes, $11,501, equal to 5 cents a common share in 1930. Electric S8hovel Coal 1930 $4 preferred share earnings, $2.31, vs. $4. Granby Consolidated Mining & Smelt- ing & Power March quarter net income before depreciation, depletion and Fed- eral taxes, $170,078, vs. $688,386; first- arter production, 8,700,283 pount 10,048,292 pounds in last quai 1930; cost per pound, 7.065, vs. 7.929. Granite City Steel March quarter e:mnwn share earnings, 30 cents, vs. $1.0: Humble Oil & lunnln: pipe line sub- sidiary refused I. C. C. permission to mer rates to_Texas points; commis- mnmmm evidence was of- lend to Jun i Irving Al te erch quarter com- nwr'n‘ lhnn earnings, 34 cents, vs. 39 Kelvinator Corporation March quar- ter common share earnings, before Fed- eral taxes, 30 cents, vs. 74 cents;. six nwnv.bl. 2 cents, vs. 67 cents. Petrol March quarter amn. ul' ;61 vs. net income $1,604,- l« equal to 60 cents common share, in Eidlo Keith - Orpheum Corporation | Fo, March quarter wmmn share eln-unn, 44 cents, vs, 87 cen! Republic Buel ln.rch quarter defldt. $1,691,593 vs. net income $1,357,769, equal to 19_cents common share in 1930, Wabash Railway March quarter deficit, $944,063 vs. net income $2186; lll equal to 31 cents preferred A share in 1930. Western - Maryland Railway March quarter second preferred share earnings, 59 cents vs. $3.72; March net operating income off 19.7 per cent; 3 months off 12.8 per cent. ‘Wheeling Steel March quarter deficit, $628,623 vs. net income $1,253,224, equal to fl “ common share in 1930, Motor car March nflmllhm in 46 aua including | to District o bia, totaled 58,165 into llhtlll- \nits ve. 37/130 In Pebruary and 118129 =L e gp— N'Mnuml in 46 States, m-mn of Columbia, totaled Mln units vs. 39,244 In February and 70,191 & ym ago. Pennsyl rackage over ‘alley Rallroad. New York, Chicago & St. Louis Rail- | Che road—Regular common and preferred dividends of $1.50 each. Paramount - Publix — Cash working capital not to be affected seriously by repurchases of common stock under guarantees; had cash income of about $30,000,000 " in ; expects about $24,000,000 this year. Shell Union Oil subsidiary cuts Chi- cun gasoline prices to 8% cents a gal- Un!ud Verde Extension Mining—First quarter output totaled 9,592,776 pounds; cash on April 1 was $1,865253 and investments $3,349,364, it $1,839,- 983 cash and $5,009,072 investments m&m"?il’d:(lgdl"cm Corporation— nsol March quarter eommon share earnings $1.04, against $1.07. Purity Bnhertu—cammon share earn- Inn. M Wi April ll 78 cents, inst $1. s nut.l ’um ly common T A — ni 41T T—] net income ll.fi -pm 'ely 1 cent a common share deficit $20,852 in 1”0 heny Steel—March quarter com- mon are earnings 37 cents. American fihnype Steel $1 common dividend; $1.50 May 15; March quarter common share earnings 6 cents ¢ against $2.60; orders on hand March 31 totaled. $65,803,609 against tfl!, 426,595 three months ago and $73, !33010 March 31, 1930; acquires H Foundry & Iron, Levering & Glrrl‘uu and Heeden Iron Construction. Campbell, Wyant & Cannon Foundry March quarter common share earnings 40 cents against 94 cents. Liquid Carbonic first quarter ship- ments off 30 per cent, cut salaries 8 to 12 per cent April 1 Merchants & Manufacturers Securi- tles March quarter common share earn- ings $2.37 inst $2.66. Missouri Pacfic Raflroad March quar- Ifl.r‘lmh'm share earnings 81 cents 2 National Radiator 1930 defltfl $1,474,- 462 against deficit $1,234, Norwalk Tire & Ruhber lut income, ivania Rallroad reported i llx manthl to ll.u'ch 31, $2,759, mull 26 deficit l'lfl.l'l'l Fnuso - American Metal Co., Ltd, March|%Pe, quarter common share earnings, 1 cent against 77 cents. American Wrif Paper March quarter prelemg’l re earnings, 32 D!m.l l‘llnlt common share ea 1 nwnm to February 28, $2.45. 51% 1% that b4% Y 170% W Y% The feature was the unusual strength of Brazil 7s and 8s, on which interest and sinking fund service due June 1 has been received in New York. ‘The 7s, which are an issue of the Brazil Central Rallway guaranteed by the Bra-' zillan government, jum 6 points to 8 level 15 points above their recent low. 8s opened up a point at 67 and then leaped another 5 points. The strength _affected other Bra- lflhn& such as Brazil 675s, Sao Pnulo 7s, Pernambuco 7s, Minas Geraes 62 and Rio de Janeiro 6!s, but the nins were checked by advices from London that Bahia, Brazil, had suspended both interest and sinking fund payments on ! Assoc Oil 6 8 sterling loan. Bahia has no dollar loans outstanding. The advance on Brazil "s and 8s was wider because of the fact that statisti- cal services ‘have receritly reduced ratings on Brazilian bonds and there bas been a strong intimation that in- terest payments would not be met. However, Wall Street has much confl- dence )n:mmnce Minister Whitaker of Vargas' government at Rio. Senor Whitaker was formerly an indus- trialist of Sao Paulo and is considered ?:en of the most constructive financiers Ot.w Neimmr, who 1is still in Brazil, has not presented any recommendations, at 1eut pubhcly Inlt it 1s understood with the Tecent improvement in the coffee market there is a good chance that izil may pull out of her cur- rent troubles without having to resort to & moratorium. ng other South Americans, Bo- 8s gained over 8 points, while 8s were fractionally to a point. ‘éol‘d‘{:l M s . Colombia Mortgage Bank 7s were up 2% points. Other is- sues were dull or unchanged. Euro- were quiet, with small gains in n issues and the high-grade de- l;rlptlolu of Prance, Belgium and Great Domestic bonds were stronger all vance in stocks and an oversold condl- tion in many junior issues. Goodrich 6s, for instance, recovered 3!, poin on the theory that, while the compnn around, bolstered by & continued nd-J interest payments. In- terborough 6s, General Theaters Equip- ment 6s, Sinclair Ofl 7s. and Warner Brothers Pictures 6s made good gains. United States Rubber 5s dropped ints, but later recovered all of the oss with active bidding in a thin mar- ket. Utilities Power & Light 51,5 weu over s point higher. High-grade pul tilities and industrials were unclan(ed 'o a shade higher. In the nflro-d list the advances were somewhat more conservative, but no 214 | less unanimous. Atchison General 4s|Canada 6s°62 reached up again toward par, a price they have no'. touched since 1912. Olhnr high-grade issues, like Northern Pacific Norxolk & Western 4s, Chicago, Bur- ington & Quincy 4s and Great North- ern 7s were also at their best 50-year 6 per cent bonds will be paid off today. The money was provided out of the treasury of the road. FPixed charges will be reduced $434,100 a year by _retirement of the bonds. Junior railroad bonds were 1 to points higher, the most active bei Pn.wo 4%s, Missouri Pacific general 4s 5s, Erie 5s, International Great Northem ldjlun.menln and Chicago & g & Northwestern 4%s. (uopmnu. lnn Washmgton Stock Exchange SALES. Washington Gas s A" —$100 at 102, ashington Gas 6 “B”"—$100 at 104%. Guttar Tonctlon, Coo10 at 34, Mergenthaler Linotype—10 at 80, 90 at 80. AFTER CALL. Washington Rwy. & Elec. pfd.—10 at 9815, w,.;nfnmn Loan & Trust Co—10 at 432, Washington Gas 6s “A"—8$500 at 102%, $100 at 1013, Memmhfler Llnotype-z at 80%, 5 Bgd and Asked Prices. BONDS. PUBLIC UTILITY. Amer, Tel, & Tel, 4%s m. Tel Bl Asked. & Tel. cuL te 5 = 4 Anacoy P. Gastial Traction Gl Suburban & Georgetown Gas 1si Barber & Ross. Inc. vy Shase" Clib, collémhh Country Club 8% Washi: Gons. Titie as. STOCKS. runuu UTILITY. Amer. Tel Gaital - Wash, N Pot. El Pot. Elec. Power 5'a Bnes, e com: () Wash, Rwy. & El pfd. (5) NATIONAL BANK. Capital (14). flmbx-u 12 Sommertial -Ame) Elncotm (13 Metrovolitan (14) mu- a8y Weshington (13). TRUST COMPANY. fi" Sec & Tr, Co. U) Aiinen tl, Savines & Trusi (idi) Erince, Georges Bank & Vo Tou & Prist (1 SAVINGS BANK. asls Battn: curity Sav. venm Street (12). inited, States (30) Washingion Mech FIRE INSURANCE: o Ame u-u 888 & Ncimaat *oiion (15 TITLE INSWIANCE. ia (6h). 10 SR ey * MISCEL/LANEOUS. Inc,, com. Coro. W Bari 1. Medi uli gl s.“ cal Dist. Natl. asz.s.s:sssfis:as; s w..'fl‘ vosgusd & ‘r.?&:,.., S “ 1\ ld d. 1% % 2 d v lll e :f) ex ra, ib’exz -~ uu-" % extri 3| Car Clin & O 63 '52. o |C& W Ind 53562, "|Ger Cen Bk 63607 m SWR 1t 534 Am Sug Ref 633 Am T&T cv 448 Am T&T 5365 Am T&T c tr 55 *46 Am T&T 655 £ 60, . AmTAT 5% 43... 2 Wks 58°34. . 2 AmWat W 68 75 Am Wr Pap 65°47.. Argentine 5s '45., Argentine May ‘§1. Argentine 6s Ju '59. Argentine 63 Oc ‘69 Argentine 6s A ‘67, Argentine 6s B 'G8., Arm & Co 4248°39." Arm Del 5% Fumomaan - Laclede 533 C '53 Laclede 5%s D ‘ID.. 4 “Banwn porey EEIP- TS - 1TV sLong Isl db 5¢°31. Lorillard 68 51... Lorfllard 5% °37. Lorillard 7s Atchison adj 4s 95. Atchison gen Atchiscv 4% Atch Ariz 4%s62.. AtCL 18t 43 '5: 2 At & Danv 2d 4548 AtGulf58°69.....1 At Rof deb 5337 A . Austria 7s°57 ctfs, B&O4s°48 B&O4%s'33. 24 O conv 414860 Manh Ry 1st 4890 Market St 7340, Marseille 63 Mex 43 Midvale Sti 53 '3 Milan 6% s ‘52, B&O Swdy 5s ’60.. Ban & Aroos 48 ‘51. Bk of Chile 6 %8 '57 Bk of Chile 63,861 Batav Pet 4145 '42.. Belgium 63 '55. Belgium 6% MSP&SSM 534849, MSP&SSM uu-n. Mo Pac gen 4 ‘1l.. MoPac5sA‘65... Bell Tel Pa bs B 48 Bell Tel Pa 53 C'60." 12 Beth St rf 534 Eérlin Cy El 6855 n Bolivia 7s Bolivia 85 Bordeaux 6 Bos & Me bs ‘55, jos & Me 6567 Brazil 6%s Montevideo 63’59, , Montevideo 7s ‘52. Mor & Co 1st 4% Nassau Elec 4361 7 N Eng T 1st 68 '52.. New S Wales 63’68 z =} - L4 B o '3 Bklyn Un lat o 60. Budapest 6562, ... Buenos A 6561 Pv. Buff Gen El 4% s'81 BR& Pitt 4%, Bush T Bldg 55 '60. Calif Packing 55’ 40 Canada 4560 Mg v v 20 4. Cent 43482013, Cen rf 43452013 re im 65 2013.. 2 c e C&StLE%sA. YC&StLés'3z. N Y Ed1st6%s 41, NY NH&H 3%s8°66. ZZ722222222722Z Can Nat 4345 5. Can Nat 4% '57. Can Nat ¢33 Can Nat 4% '65. Can Nat 54 July 69 Can Nat 55 Oct 6! Can Nor 75 deb ‘40. Can Pac deb 4 e Can Pac 435 '46. Can Pac 433 6 Can Pac s ctfs '44. PEAREE O R AN N Y Tel 4%5 39 N Y Tel 6s NY W&B 4% 8 "4 Nia Sh Md 5% Nord 6%s ‘50 Nort South b/ Nor & Wnev Cen: Pac 48 '49 Cert-td deb 63%s 43 Ches B Cop S et 4%s A3, % | NorOT & L 68 e | Nor Pac 38 204 Nor Pac 4897 Nor Pacr 168 Nor St Pw 5s A *41 Nor St Pw 63 B 41 CM & Ell lll Chi Grt West Chi M & St P adj ba. Chi & NW gn 4587 Chi&Nwn 4%8 2027 Chi & NW con k. - Chi R1 & P rf 48 ‘34 Chi RI&Pac 4%s'52 Chi Un Sta s B ‘63. C& W (nd cv 43°52. Oreg-Wash 48 Orient de: Orient dev 63 53 Pac G & K 53 °4. Pan-Am Pet Paramount §: Paris-Ly M Paris-Ly M l;nn- Exch Chile 63 Chile 63 °'61.... Chile 6563 Chile 7s °4: . Chin Gvt Ry 58 '51. Christiana 6s '64. .. CCC&StL4%s E CCC&StLb5sD'63 Clev Term 4%s 77, Colomb 6s Jan 61.. Colombia 63’61 Oct. Colon O11 6s *38. Colo & Sou 435 ‘35. 'S - mENOARON %0 ananaNe I3 Peor & E 1st Pere Mar 43, ConGN Y 6%s 45, 2 Pere M 1st §: Con Pwr Jap 6 Copenhag 4% Cuba 5%s Cuba R R b Cuba Nor 5% Czecho 8s i Czecho 98 Del & Hud rf 453, Del & Hud 6%38 "37. Denmark 4% s 83, . Denmark 5%s 65 53, Pnila & Read G-\ 9 Phillip Pet 5%s C&StL -~ Poland 8s '50 P'Ind G El 4 Porto Alegre Por R T am 63 42.. Pos Te) & C 53 '53.. Pressed St C 61 '33. Prague 7348 '52.... Prussia 6s ‘52 13 Public Serv s '7l PubSv G 4%s "l:“ moe - xham oERxGeSosm 0N NRar Det Edison rf 5s '49 Duquesne 4 %s '67. Dutch Eszt 16s°47, Dutch Bast 1 6562, El Salvador 8548 —a o % Rem Arms 6s | Rem R5%8 A" Rhine West 68°62.., French 7s "4y gt il RIAr& L 4%s'34. Gen Baking 5% *53. Gen Motors 6s 37.. Roy D ds’46 ww Gen P Sv 5%s°39.. StL IM R&G 48°33. StL&SFindsA.. 31 StL&SF 434878, 233 StL&SK gen 6s‘31. 1 St L&SF pr 1n 68 B. 206 Ger Cen Bk 6360 O StLS W ist 4589, é erman Bank 78 ‘50 German 7s Ger Gen El 78 Sao Paulo 8s Goody'r Rub Saxon Pu W 6%s'51 Grand Trunl Grt Nor,4%8 17 E.. Grt Nor gen 78'36.. Greek 68 '63. .. Halt1 6s ‘52 o L&N lnlln‘ Stl 4%s A"fl Inland Stl 4s%; B'S1 . Int Rap Tr bs Sou Pac col 48'49. ., Int Rap Tr sta . Sou Pac rfl 48 °'56.. Int Rap Tr 6s°32 . 1] 14 IntRap Trs E—ufl.»u—»emu—aflg—unuuno 1% ; ““‘ “-‘\fi-nn ltus.&cnln BEST % | wabash 43378 % Yokohama 65 °61. cqrr-'d conventions of the Controllers’ C/ugress, Store Managers’ m. 2ersonnel Group, Trafic Group and the Retail Delivery Association of the National Retail Dry Goods Association which _are to be held in Washington May 25 to 28, according to an an- nouncemem made here today. ‘The program for this en! session, which will be held at t.he Mayflower Hotel, will present these important sub- Jects for the consideration of all execu- tives from the five participating groups before they convene in separate ses- sions to discuss more specialized prob- lems of store procedure. - At this session W. W. Everett, vice president of Woodward & C.ond chairman of (-be H. Reichelderfer, Board of Commissioners, D lumbia, will deliver an address of wei- come. Following this, D. F. Kelly, pres- ident of The Flll’ Chicago, and pl'fl!- dent of the National Retail Dry Goods Association, will speak on_ “How to Make Merchandising More Profitable.” “The Problem of the Older Employe™ Is to be presented by Murray W. Latimer, economist, New York, and an outstanding authority on employment problems. ~ “Our Vanishing xennom Freedom” will be the theme for the dress of Merle Thorpe, editor, the N - tion’s Business. ‘The Wasbington Committee on Ar- rangements, which is comprised of W. W. Everett, Woodward & Lothi eh.lrmln Harold H. Levi, the Hi ; Prank R. Jellefl, H:Bnk R. Jellefl. Lansburgh, Lanburgh & Bro. I L. Goldheim, Goldheim's, and’Albert D. Dty & agaged 10 o it e engaj preparal for this gathering. ‘The sessions of the Controllers’ Con- gress, Store Managers' Division, Per- sonnel and Traffic Groups are to be held at the Mayflower, and those of the Retall Delivery Association at the Wardman Park Hotel. Outstanding ex- ecutives from among the 3,700 member stores of the association will discuss ce to retailers and traffic and delivery managers. LRl STOCKS EX-DIVIDEND. NEW YORK, May 1 (®)— __ Rate. riod. ll h Pwr 1st pf...81. et 5 S guel 38 § T ERRnRE EEEL o 352 5E iR i 500000000000K 00U E0IPBOOKEODDOODOONOOO0D: DEEEKOOOEODDO0D; 5 & B % SNl naRL T8, - e ek S E ST - (O i -t B o 55355558 35 eenumn Exchange on London, 124 francs 43 centimes. The dollar was quoted at hnel 58Y, centimes. The bourse losed tomorrow and succeeding Saturdays until the end of October. METAL MARKET. NEW YORK, May 1 (#).—Copper, quiet; electrolytic, spot and mm 9%a9%;. Iron, qui o nelrby, steady; m ture, 23.70. Lead, quiet; York‘ 4.00; East St. Louis, 3.80. Sweden 5%s ‘54. . Swiss5%s Toho EI Pow 63 '32. Toho El Pow 78 '55. Tokio 53%s'61 Un Pac 1st 43°47. Un Pac 4s'68. Un Pacrf 04 2 Un SthG’LlA'OT Ud StI W 614sA 51 Utd St W 635 C'51 Uruguay 6s 6 Uruguay 8s Utah P& L Ut1] Pow 53 ‘59 ww. Utll Pow 6%3 "47. Vert Sug 1. Va Ry 1st 53 ‘62 S22 maoae = Wabash 15t 65 39 Wabash 24 6s ‘3! Walworth 6s A '45. Warn Br Pic 6539, Warner Sug 7s *41 Warsaw 7s 58 West El deb 5s "44. West Md 4s b . West Md 6%s'77.. Sordma cBhwulanas Cen Wilks B & E1st 5 » o Yestn SP&T bs 78 Yng S&T §s B '70. o s