Evening Star Newspaper, May 8, 1931, Page 14

CAl4 wws DEMAND FORESEEN FOR SILVER PARLEY Resolution ‘Caliing for -Such! JEE"}: 102 Conference Expected to Be Offered C. of C. r BY JOHN F. SINCLAIR. With the closing days of the Inter- national Chamber of Commerce Con- vention in sight, it looks-pow as-thou a definite resolution will be adopted to- morrow nflmor a conference to dis- cuss silver ization. There is much feeling on the subject, particularly between the Chinese and Indian delegates on the one hand, who Tavor the calling of such a conference, and the British delegates on the other, who are not so keen about it. g ‘War debts and reparations, too, will receive attention from the Resolutions Committee, although it is not certain whether anything definite will result either as to their modification: or can- cellation. h:e ul‘ubm w‘l,t:\‘ u::c .poll" 24“‘:: exception of the A 3 The- difficull ttention. ::;ucuh’ ’n finding a common meeting und whereon the delegates from the film States will agree with those of other nations. It is a delicate subject and one that does not lend itself readily to resolutions. The British delegation is strongly in favor of a resolution to cut down tariff walls throuzhout the world. While the delegation i3 composed of many of Great Britain's leading business men, the majority opinion seems to be in the direction of free trade and not protec- tion. Several of them have expressed e belief that the hope of the world ffl?mng the next five years depends upon the lowering of ‘walls everywhere —especially in the United States, ‘which, they say, has the highest tariff sched- aules in existence. Several members A‘:‘ the United States del Mfim this eontention, that s American schedules are among the low- est in the world and do not .prly to many more articles than those of free- trade Britaln. X Leifer Magnusson, American Tepre- sentative of the international labor ol; fice of Geneva, sees in the free play of T to_healthy bus! 5 “rariff schedules do affect trade. But this conception is only part of the story,” he said. “There are other and just as important factors involved. The other factors are free trade in money and people. What the world needs at 1hhumefi(mtndcint.hmu:re; basic elemen! le an money. We have —anywhere. laws. Money also ?l“‘be%‘% held in or shut out. Hence, you see that there can be no natural play of economic forces. This, 1 think, must be corrected before any permanent recovery can be had in the world of trade.” One American delegate—a well known business man from the Middle West— sees in the suggestion of President Hoo- ver for world disarmament, the stion Secretary Mel for tenance of the pruen::"D standard of living, a winning combination. “War debts are a bagatelle in nfl‘ Tope com| to present war expendi- tures. wm‘ixwm America cancel the war debts of these nations while they 20 times as much on , too, if we tie this up tion that the American aintained to these two simple formulae, then I think it is_hopeless to expect them to get together on any other plan of world action.” And it may develop that this com- ment may turn out to be the wisest observation of the conference. Henry Bell of London, one of agree; for if they cannot agree on a Now, say that long-term investments, the drop in the security values, what in -your country 3 is “frozen’—what then? That's the prob- Jem, frankly, which is facing the bank- ing world today.” Melvin Traylor's speech criticizing in three particulars stock trading on Wall street, which caused as much comment as any address of the convention, is understood to have been gone over very carefully before presentation by one of the most successful brokers in the country. No comment was avail- able from Mr. Traylor on the matter, but it is expected that in due course this Chicago banker will have some- thing to say in reply to his critics. yright, 1931, by North American News- (Copyrints 103Loer Alllance) DRY GOODS MARKETS. NEW YORK, May 8 (Special) —Cot- ton goods markets were fairly active today. Print cloth quotations were un- changed at 5 for 64x60s and at 5 for 68x72s. unchanged. b e S RUBBER MARKET. NEW YORK, May 8 (Special).— Crude rubber, smoked ribbed sheets, was 1, cent higher at today's noon quota- tion of 6% cents. This compares with 6% a month ago and 14 cents & year ago. e conside! a crisis arises and these by reason of become called CHICAGO POTATO MARKET. CHICAGO, May 8 (#) —Potatoes, 66; on track, 219; total United States ship- ments, 942; old stock firm: trading falr; sacked per cwt, Wisconsin Raw silks were quiet and round whites, 1.35a140; few 125; fair quality; Idaho Russets No. 1, 1.60a1.65; new stock weak; trading slow; Texas sacked Bliss Triumphs No. 1, 2.9023.00; few fair quality, 2.75; Florida barrel Bliss Triumphs, fine quality, 5.35. . Loan Negotiations End. PARIS, May 8 (). —Negotiations for a loan to Jugoslavia to permit stabill- zation of the dinar are about to be con- cluded, the finance minister announced today through the Havas News Agency. ‘The hsnmu'b-‘::ed by a group of French [ore! than half of the issue will be floated in the Prench market. js it Australia Raises Embargo. CANBERRA, Australia, May 8 (#).— The Australian government today re- voked the order of October, 1930, which prohibited the importation cf galvanized jron and steel plate and sheeting. SHIPPING $10,000,000 GOLD. NEW_YORK, May 8 (#).—The Bank of the Nation of Buenos Afres today is shinping $10,000,000 in m to New Yo:: on the steamer Sou Cross. RO 12 St. Elizabeth’s Hos- 8.3 per cent; four months off 7 per gt Aoy s radio in every cent. pital in Chicago has Toom. FINANCIAL. "NEW YORK STOCK EXCHANGE THE EVEN G STAR, WASHINGTON, D. C., FRIDAY, MA/ 8, 1931 Recelved by Private Wire Direct to The Star Office. Stock and Dividend Rate. Add 00. Hig North Amer pf (3),. 1 56 North Am Ed pf (6). Northern Central (4) 1»: ~Prev. 1931~ High, Low, b3 4713 43 Northwest Tel (3)... 108 1% 15 Norwalk Tire & Ruh 19% 8% Ohto Oil 5% 2% Oliver Farm Equip 3% Omnibus Corp. . . 15 60% Orpheum Cir pf (8) 58% 37% Otis Elevator (2%) 16% 61 Otis Steel. 39% 281 Owens 111 45 Pacific Gas& El (2). 50% Pacific Lighting (3). 7% Packard Motor (40c) 26% Paramount Pub (4) 1% Park Utah.. 2% Parmelee Transport. 1% Pathe Excharge..... Peerless Motor Car Penick & Ford (1). 2844 Penney (J C) (2.40) 0 Penney (JC) pf A ( 3 Penn Dixie Cement 50% Penn RR (4)..... 23 Peop Drug Strs (1).. .108. . ,96% Peonles DS pf (8%). 208 250 ' 20015 Peop GasCh (8).... 10 Petrolm Cp of Am(1) 30 11 PhilaCo6% pf(3). Phil Read C& I.... Philip Mor & Co (1).. Phillips-Jones Corp.. Phillips Petroleum. . Plerce Ofl. . Plerce Ofl of. Pierce Petroleum 4 Pitts Screw (1.40). Pitts Term C pf Pitts United Corp Postal Tel&Cable pf. Prairie Oil & Gas (2) Prairie Pipe L (3) Pressed Steel Car. Proct & Gamb (2.40) Prod & Refiners pf.. 4508 143 3 2 3 1 137% 128% Pub Sy NI pf (1)1 w0 167% 148 581 36% % 2 11% 5% 101% 67 56% 20% 12 Pure Ol pf (8) . 50s Purity Bakeries (3). 26 Hadio COrp. .....0.. 1622 Radio Corp B (6).... 11 Radio-Keith-Orph A. 815 Raybestos Man Reading Ry (4). Remington-Rand. Reo Motor Car (40c, Republic Steel. . Republic Steel pf. Revere Copper & Br. Reynolds Metals (2) 4 Reynolds Tob B (3). 450 Richfleld O1l. . 19 Rio Grande Oil. Rossia Insur (2 20) 27% Roy Dteh(m1.3404) 15% St Joseph Lead (1). 18 St Louis & San Fran. 31% St L-San Fran pf () 15% St L Southwestern.. 6% Seagrave (60c). 44% Sears Roebuck 12%. 40 Second Nat Inv pf. 12 Sharp & Dohm: 21% Shattuck F G 4% Shell Union Of1. 30 Shell Un O1l pf (i 4 Shubert Theaters. .. 11% Simmons Co. . 815 Sinclair Con Of1 (1). 29 Sloss Sheffield St pf. 7 Snider Packing pf... 1 9% South Port Rico Sug. 10 96% Sou P Ric Sug pf (3) 100s 42% South Cal Ed (2).... 14 208 SandG& Epf (4).. Stand O11 Cal (h2%) Stand Oil of Kan (1) Stand OIl N J (12)... 153 Stand O1I N Y (1.60). 52 Starrett (LS) (12%) 1 Sterling Sec A. . 1 4 Sterl Sec pf (1.20). % Stewart Warner.... 35% Stone & Webster (3). 1 105% ~rrev. 1031 High. Low. Prev. h. Low. Close. Close. % 564 564 B! 105% 105% 891 26% 431 30 % Su 644 Su 26% T Tobacco %« Tobacco Transue Truscon » 19% % Vadasco 171 Vadasco 98% 21 90 % 6% Waldorf West Pa 4 West Pa Western Western Western Western Westing 4ty Bam 56 70 686% 23 681 1067 835 80 30 1 103 4a% B4l Wriglev 55 Stock and Dividend Rate. 18% Studebaks Superheater (2%) perior Oll. ... erior Steel pineton A Telautograph (1.40) . Tennessee Corp(50¢) Texas Corp (3)... Tex Gulf Sulph (4). Texas Pac Land Tr.. Thatcher Mfg (1.60). The Fair (2.40) Transamerica (1)... 229 Twin Citv RT of (7) Und-El-Fisher (5).. Union Bag & Paper.. 1 Un Carbide (2.60)... Un Ofl of Cal (2)...e 4 Un Pacific (10). Un Pacific pf (4).... 1 Unit Atreraft....... 757 Unit Afrcraft pt (3) Unit Biscuit (2) Unit Cigar Store: Unit Carbon. Univ Ple 1st pf (8).. Univ Pipe & Rad. . U] P&T A (e+2.15) 37% Vanadium Corp'n... Elec & Pwr pf(§) 90s 416 Vulean Det (4). Yale & Towne (2)... 8'% Yellow Truck....... Young Sheet&Tu (4). 18% Younes Spring (3) . 2% Zenith Radio....... Prev. . Close. Close. 20% Sales— Add 00, High. 20% 321 & 10y £ el ) Tide Wat As pf (6). Timken Roller (3) Products. .. Prod A t95¢ &W ). Tri-Cont Corp...... 4 Tri-Cont Corp pf (6) 2 Trico Products(2%). 10 Stl (g1.20). 3 108 6 222 12 8 Unit G & Im (1.20).. 4 Unit G & Im pf (5).. Unit Piece D W (2).. U § & For Secu! f1y | fourth 41, HIGH-GRADE BONDS ADVANGE: SHARPLY Government Securities Re- spond Quickly to Lowered Rediscount Rate. BY F. Il. RICHARDSON. Bpecial Dispatch to The Star. ' NEW YORK, May —High-grade bonds advanced to new high levels to- day in response to the cutting of the New York Federal Reserve Bank's re- discount rate to 1!z per cent. Liberty Liberty first 4%s and (Treasury 3%s were bid for in large blocks at prices above their previous best levels of the year. Mumicipal bonds rose to record high prices, with New York State 4s quoted above a 3.40 per cent yield basis and short-term munici- pals selling at price to yield as little as 2 per cent. Secretary Meilon announced that the recent offer of $50,000,000 in 91-day bills were oversubscribed nearly six times. The average rate of the bids accepted was 99.701, equivalent on & bank discount basis to about 1.18 per cent per annum, a new high record for |this type of Government security. At the same time, junior corporation bonds, which has advanced under spec- ulative accumulation on Thursday in anticipation of a broader demand, were neglected, though prices held firm or . |advanced fractionally. Prime corpora- tion issues were higher, but the gains were widest and the demand most ac- tive where the maturity or call date was within four to five years. In other words, the reduction of the bank rate, like its predecessors in this market, has merely accentuated the scarcity value of prime investments without doing more than invoking & speculative interest in secondary and tertiary descriptions. Investors will not be persuaded to buy a bond currently ¢ |selling at a high yleld 'basis but in : 12 608 o 126 Corp. 3 esCppf. 2 218 Sa Sa 108 Sys (134) Walgreen pf (63%) El pf (7 Pow pf (6). Dairy B.... Md.... Pacific pf .. Union (8).. 36 ABE).... 6 Westing EI&Mfg (4) Westing E&M pf (4). 3 Westvaco Cblor (2). % Wextark Radio Strs. 4 White Sewing Mach. Wilcox Oil & Gas.... 1 Wilcox Rich A (233). 1 Willys-Overland. ... Willys-Over of (7).. Woolworth (2.40)...1514 Worthington Pump. Worth PumpB (6).. 1 1% 4 161 (Wm) (4).. 44 6 18 1 1 2 Sales of Stocks on New York Exchange. Dividend es as given in the above table ai 12:00 Noon. he annual cash payments based on the latest quarterly or half yearly declara- tions. | ¢ Payable in ¢ | hPlus 27 in stock. ! 3% in stock. m 38 id thix year—no % 1D stock. toek, K Plus jus = Plus 50 in s in stock. terred n Plus CORPORATION REPORTS || TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS By the Associated Press. NEW YORK, May 8.—The following | is & summary of important corporation | news prepared by the Standard Sta- | tistics Co., Inc, New York, for the Associated ‘Press. News Trend. Aggregate retail sales of 38 chain | systems, including three mail order | houses, in April were 4.09 per cent below | the same period of last year. The three | mail order houses together aggregated | sales 9.74 per cent below last year. Al- | though no directly comparable compila- | tion of sales for the identical systems | last month is available, it is of interest | to remember that March sales of 32 | systems, including three mail order | m?u, ‘were 4.6 per cent under March, | Brokers' loans in the week ended | Wednesday showed another drop, this time amounting to $31,000,000, and brought the total of loans to $1,699,000,- | 000, the lowest since November, 1924. | Of this total, loans by reporting mem- | ber banks of the Federal Reserve Bank | of New York for their own account rose | $25.000,000, while loans for the account | of out-of-town banks fell $30,000,000 and for the account of non-banking lenders fell $26,000,000. Two developments of interest appe: in the raflroad news. The Governor's Committee set up to determine a policy or the rallroads of New England has recommended that the interest of the Pennsylvania in both the Boston Maine and the New Haven be cut, and subsequent thereto that the two New England roads form a unit divorced from any trunk-line control. Carriers in another part of the country will be | affected by a temporary injunction | sacured against enforcement of the or- | der of the I. C. C. reducing grain| freight rates. i | The Companies. { Baldwin Locomotive Works April con- solidated shipments $1,433,000, against | $5,342,000; four months, $7,261,000, | against $18,154,000; business booked in April, $1,130,000, against $3,311,000; four months, $6,667,000, against $15,- 511,000; unfilled orders April 30, $5,625,000. Central Hudson Gas & Electric 1930 common share earnings $1.01, against .u: e:l;:l adjusted for split up of stotk 1929. Exchange Buffet April sales off 16 per cent, 12 months off 10.58 per cent. Hall (W. P.) Printing 1931 sales volume estimated about §1,500,000 above 1930. Lane Bryant April sales up 2 per cent; four months up 11.7 per cent. MacMarr Stores April zales of 7.3 per cent, four months off 11.2 per cent. Midland United Co.—581,000 shares common stock to be offered at market. National Tile Co. March quarter defi- cit $45,714 against net income, $32,431, equal to 27 cents common share in 1930. Daniel Reeves, Inc. April sales off cent; four months off 5.7 per cent. ‘ Winn & Lovett Grocery April sales | off 7.3 per cent; four months off 12.1 per cent. | Aviation Corporation (Del.) subsid- | | faries carried 92,992 pounds mail in February against 97,026 pounds in Jan. | uary. | General Motors April Buick sales up | 32 per cent from previous month. | Insuranshares Corporation (Del) | liquidating value March 31, 1931, $11.72 | cf A common share, against $10.15 | December 31, 1930. International Holding & Investment | Co., Ltd., net asset value December 31, | $3.92 common share, against $5.58 De- cember 31, 1929. | International Petroleum president states current dividend is safe at pres- ent, crude prices. | National Public Service gross revenue of subsidiaries, 12 months ended March 31, up 4.4 per ecent; net for this com- | pany's stock, before depreciaticn, up 14.4 per cent. | Southern Pacific Co.—Protective Committee organized for preferred stock of St. Louls Sguthwestern Rail- | way. ‘Thompson Aeronautical carried 12,- 396 pounds of mail over Chicago-Bay City route in February against 14,011 peunds in January. 5 Transcontinental Air Transport sub- sidiary, Transcontinental & Western | Alr, carried 14,648 pounds mail over | New York-Los Angeles route in Febru- ary against 15,921 pounds in January. United Aldcraft & Transport carried 175,308 pounds mail cver Chicago-San Francisco and Seattle-San Diego routes in February against 182,862 pounds in January; subsidiary, Varney Air Lines, | carried 23,171 pounds over Salt Lake City-Seattle route in February against | 26,073 pounds in January, | Western Alr Express carried 5442 pounds mail over Cheyenne-Pucbm\ route in February against 6,751 pounds in January. Atlantic, Gulf & West Indies Steam- ship Lines proposs reducing authorized preferred stock to 108,000 shares and | common stock to 250,000 shares. | Radio-Keith-Orpheum reported may lease several Fox theaters in New York | outlyipg territory. New York, New Haven & Hartford Rallroad New England Governors' Com- | mittee favors merger with Boston & | Maine Railroad and reduction in Penn- | sylvania Railroad and Pennroad Corpo- | ration stock holdings in companies to not more than 10 per cent. American Pneumatic Service March quarter deficit, $154,291, against net in- come, $2,805, equal to 9 cents first pre- ferred share in 1930. American Steel Foundries March quarter preferred shar: earnings, $1, against $15. .68. ‘Anaconda Wire & Cable March quar- ter common share earnings, 38 cents, against 14 cents. ‘Bohack (H. C.) sales. 5 weeks ended May 2, up 12.1 per cent; 13 weeks, up 14.9 per cent. Chicago Great Western Rallroad April net income after charges expected to equal net of $49.115 year ago; gross revenue for period off 15 p°r cent, Commonwealth & Southern April electric output, off 4.4 per cent; 12 months, off 7.2 per cent; April gas out- put, off 4.3 per cent; 12 months, off 5.9 per_cent. Crown Cork International 1930 class Safeway Stores April sales off 2 per Eat cash and marl $2,140,000; expects first half earnings to be around 85 cents asghare. Great Atlantic & Pacific Tea dollar sales, 4 weeks to April 25, off 1.1 per cent; tonnage sales up 13.8 per cent. Hayes Bod ration March ly _ Corpo quarter deficit, $93,335, in; ficlt $106,695 in 1930. —— which fixed charges are barely covered by earnings merely because the redis- count rates, time money rates and ylelds on high-grade bonds have been driven to record low levels. Some assurance as to improvement in business and in- creased earnings is needed first. Apart from Government and munici- pals, the type of bonds most in demand today were Great Northern 7s, which mature in five years; Allis Chalmers 5s, maturing in six years; American Water Works & Electric 5s, which mature in three years; General Motors Accept- ance Corporation 6s, maturing in 1937; Minneapolis, St. Paul & Sault Ste. Marie first 4s. which mature in 1938, and Western Union 6'2s, which are due in five years. - The new capital market was again quiet, with only about $16,000,000 of new municipals offered. Of this total, $15,547,000 consisted of Westchester County 3'; and 3% per cent bonds of- fered at prices to yield 2.50 to 3.60 per cent, according to maturity.” They were quoted at a small premium. In foreign dollar bonds the money influence failed to work any improve- ment except in the highest type of se- curities, such as Great Britain 5!2s, French 7s, Belgium 6s and Japan 512s. Brazilians started off 3 to 4 points higher on a rise in coffee prices, but later reacted on English selling. Ger- man issues were steady to fractionally higher. (Copyright, 1931.) Washin;]ton Stoci( E;change SALES. ‘Washington Gas 6s “B” —$500 at 106. Capital Traction Co.—10-at 24, 10 at 4. Columbia Sand & Gravel pfd.—10 at 93. AFTER CALL. Washington Gas 6s “A"—$1,000 at 103. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Tel. 4158739..... Am. Tel. & Tel. ctl. tr. 35, 0.0 A : Pot. R. R. 5 Bid Asked. 13142 . & P. Tel. of V Capital Trection R. R. City & Suburban fs. town Gas 1st’ 53 cons, 5% ec, 65 Wash.. Alex. & Mt. Ver. ctis. Washington Gas 4'2s Washington Gas 58 Wash. Gas 6s, series’ A ‘Wash' Gas 6s. series B Wash. Rwy. & Elec. 4s 2 MISCELLANEOUS. Barber & Ross. Inc., 6'2s.. Chevy Chase Club $las. ... Columbia Country Club 813§ 3 aper MIg. 65.... W, M. Cold Storage 5s Wash. Ccns. Title 65 General Aviation Corporation—Agree- &t ment reached for réstoration of sus-| W pended Fokker planes to passenger ser- Vice after modification of certain ‘characteristics” of ships. Lanstdn Monotype Machine common share earnings, year ended February 28, $9.65, against $14.38. Midland Steel Products April out- put 10 per cent above March; opera- tions currently at level of year ago. Newport Co. March quarter common share earnings 41 cents, agalnst 82 cents, Ca;l;lll.:l HIIMI; Po:;‘r expected to ete connection th New Edison by late Fall. bl Poor & Co. March quarter class B share earnings 41 cents, against $1.51. Simms Petroleum March quarter de- 3:;1:,,3%330.376. against deficit $37,554 Southern California Edison, Ltd.- Densel Co. ‘new company: _offersto buiid $20,000,000 municipal power plant for City of Los Angeles; city would op- erate plant and pay 5.7 mills a kilowatt hour for power generated for period of 20 years, when title to plant would pass to_city. Baltimore & Ohlo Rallroad—$111,- 000,000 valuation placed by Chicago valuation engineer on property of Chi- cago & Alton Railroad, which this com- pany purchased for $75,000,000 at re- celver's sale. The Industries. Building. —April construction awards in metropolitan New York totaled $83,- 538,400, against $101,051,700, according to F. W. Dodge Corporation. Raifroads—New England Governor's Committee favors merger of New Haven with Boston and Maine, and reduction in Pennsylvania R. R. and Pennroad Corporation stockholdings in companies | Natl to not more than 10 per cent. carriers get temporary Western injunction | against enforcement of reduced grain rate order. Retail Trade—Aggregate April chain store sales of 38 systems, including three mail order houses, were 4.09 per cent below April, 1930; four months sales off 5.16 per cent. WESTERN MARYLAND'S - REVENUE DECREASES Special Dispateh to Fhe St BALTIMORE, May 8§ —Western Mary- land Railway revenue for the week end- ed April 30 totaled $399,214.57, com- pared with $448,77341 in the corre- sponding week last year, a decrease of $49,558.84, or 11 per cent. 8 For the four weeks of April revenue totaled $1,282,838.09, as against $1,460,- 816.30 in April last year, a decrease of $177,978.21, or 12 sm¥ cent. Train Gives Phone Service. BERN (#)—Emplo; of the Swiss Federal Railway nugl”mnlmll tele- . | phone m iven them by travelers | Bn°a" telegraim form. - The message. s telephoned by a raliway oMcial at the sta nearest ta where the message was given, bia Commercial (stamped) (10) District (8) o5 Fed.-Amer. Nil. Bk. & Tr. (2} Liberty (7§) 7 Lincoln (12) Metropolitan 158)... Se« 9e) Washington (13) TRUST COMPANY. Amer. Sec. & Tr. Co. (15). Continental Trust (6) Natl. Sav: & Tr. (127) 42: Prince Georzes Bank & Trust.. Union Trust (8)........... Wash. Loan & Trust (i4).. SAVINGS BANK. Bank of Bethesda (6§) Commerce & Savings (i0) East Washington (12). ) i FIRE INSURANCE. American (12) Corcoran (10).1717] Firemen's (8).. | National Union (15)” TITLE INSURANCE. Columbia (6h). . Real Estate (6h). MISCELLANEOUS. Barber & Ross. Inc.. com... Col. Medical Bldg, Corp. i) Col, Sand & Gravel ptd. (7). Dist. Natl. Sec. pfd. (7). Emer Bromo-Selz. “A” {2 Federal St Fed.-Am. Co. Mer. Tr. Stge. pfd Mergenthaler Linotype (8) atl. Mtge. & Inv. pfd. ( e1la% ext 5200 extra, y2i3% e 130¢ extra.’ 1% extra, BOND ISSUES 95 PCT. OF APRIL FINANCIN Corporate stock and bond financing in April totaled $376,900,000—a slight increase over the March figures, ac- cording to Standard Statistics. As in the preceding month, bond - issues of $362,400,000 made up more than 95 per cent of this total. Offerings of pre- ferred stock were the smallest for any month so far this year, amounting to cnly $8,300,000. Common stock issues totaling _$6,200,000 increased over the March figures, but are still substan- tially below those of any other recent month. - Last year 22!, acres were added to he :'K.“ set apart for sports and games in the Royal parks of England, and nearly four acres were added for the construction of boating and paddling pools, \ r _UNITED (Bales List4 7. 14 US4%sd7-62. 42 Ab& St5%m"43. ... Adams Exp Allegheny 58 44, Allegheny bs *49 Allis-Chalm 6837, Cp 53849, al 51%5°34.. Am N Gas6%s’4 Am B&R 1st 5847, Am Sug Ref 6337, Am T&T cv 44839 Am T&T 58 '65. Am T&T c tr 5846, Am T&T 55 £'60. 3 Argentine 6x Arm & Co 4% Arm Del 5%s '43. .. Atchis 45 1905-55. . Atchison adj 4s'95. ,An:nilon =en 95 Atchiscv 4158 "41, AtCL ist4s 52, At C L col 43°52. | At Ref deb 55 37 |'Australia 4155 ‘5 Australia bs ‘55 58, ‘39, 0., B & O Toledo 43 ‘50, Ban & Aroos 45 ‘51, Bk of Chile 6% Bk of Chile 6% Belgium 78 5 Belgium 7s '66. Bell Tel Pa Brazil 85 41. Bremen 7s '35 Bk Ed gn A 6549, Bkiyn Man Bklyn Un 58 '45 Bklyn Un Ist Budapest 6s '62 Buenos A 65 '61 Pv. Buff Gen El 4%#81 Bush T Bldg o3 '60. Callf Packing 55’ 40 Canada 4s°60... ... Canada 55 ‘52 Can Pac 434386 Can Pac 6 ctfs "44. Can Pac bs * Cent Pac 4549 Cent Pac 58 60 Cen Ry NJ g 58'87. Cert-td deb’s 1 s 48 Ches Corp 63 *47. C&Ogen d%s Chi M&StP” 43%s8C.. | Chi M&EStP 4%s E. Chi M StP&P b3 76 Chi M & St P adj bn. Chi&NW g 3%s 87, Chi&Nwn 4135 2027 C&Nwn 4138 ¢ 2037, Chi & NW con 4% 5. Chi&NW rf 53 2037, Chi& NW 6%8 '3 Chi RI&P gn Chi R1& P rf 4a'34 Ch#R Icv 4%s "6 Chi R1&Pac 4% | Chi Un Sta 4345 63, Chi Un St 58° 63. C& W (nd cv 45 '52. C& W Ind 5%s"62. Chile 65 °60. Chile 63 '61. Chile 65'63. Chile 78 °42... CCC&StL 4% Clev Term 4%s 77, Colomb s Jan '61. . Colombla 63’61 Oct Colon 01 63 '3 Colo & Sou 4% Com Inves 53%s'49. CCMd1strf5s'50 ConG N ¥ 6%s '45. Con Pwr Jap 6%s Copenhag 4%s '53. Copenhag 68 ‘62 Cuba 5%s 45. Cuba R R 68 Cuba Nor 5%s Czecho 8s '51. Del & Hud rf Del & Hud 5% iy | Denmark 443 ‘62 Denmark 5345 ‘55 | Denmark 6s D& R Grgn 4 D&RG W bs'56... DRG& W stbs'78 Det d G&R4 %861 Det Edison rf 53 ‘49 Deutsche Bk 65 Dutch East 1 6547, Dutch East East C Sug 7148 ‘37 El Salvador 85°48. . Erle 15t cap Erfezon 4s A 53. Erieconv4sB..... Erie Gen 4; Erle cv 586 Erie 58'76.. Ftat 7s ex war '46.. Finland 5%s ‘58 Finland 63 45 Fisk Rub 83 °41.. Fla E Coast b French 7849, French Gvi 7% Gen Baking 5% Gen Motors 6 37.. Gen P Sv 5%3 39 Gen Th Eq 65°40... German 5%s ‘65 German Bk 6s°38. . Ger Cen Bk 60 J Ger Uen Bk 6s ‘60 O German Bank 7s 50 German Ger Gen EI1 7 Goodrich cv Good 15t 6%4s 47 Goody’r Rub 5: GrandTr sf db Greek 6363 Halt) 65 '52. Hock Val 4 Hud & M ad) 68’57, Hud & Mrtin E! Abitibl P & P 5953 STATES. in $1,000.) Sales Hixh Low. Olose. {Lib315532-47. 116 102 5102 2102 5 103 4103 3 108 % L4th4%s33-38 162 104 11 104 5 10411 US3%s40-43. 118 102 R 102 1102 8 . 11102 210129 102 2 7 106 8 106 8 106 8 - 10 108 20 108 20 108 20 113 11225 113 ales. High. Low. Close. 52 L. 5% 4 100% 7 30 1 5 255 10 10 151 28 13 12 1 115 5 1 5 17 18 44 28 26 4 83 Int Hydro El 6844, Iat M Co bsrect "41.. Int Match 68 47... 4T...0 5 53. . 1at T&T cv 4% '3y Int T & T 5s'56 %854, Jugosl Bank 78 '57. Humble Of] 51 '37 %! T%s MBTIistpf 111 Cent 83 111 Cent ref 111 Cent 4% 1l Cent 6%s5°36. 11 CCSIL&N 4%5.. I CCSIL&N 63 A. . Inland Stl14%s A'T8 Inland Stl 4s% B'$1 Int Rap Tr 68 '66. .. 2i Int Rap Tr Int Rap Tr 6 Kend5%8'48 ww. . 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O7sev A’3T SincCrO5%s38.. 26 93% 93 18 102 101% FINANC oo e BONDSmoz e Received by Private Wire Direct to The 100% 100% 102% 100% 106% 82% B8N 87 107% 88 93% 9 61% 85 964 2% 0% 48 ' 70 8% 8815 85% 105% 100% 9cts 96 1057 84% 27 62 102% 3% 101% 103% 102 55 B6%, 98 128% % 95% % 2% 974 101% 1% 24% §6% 93% 4 105% 102% 103 W 1015 98, 100 1 115% 100% 116 4% 104 106% 1111 82 9614 107 9915 9915 104% 101% 104% 106% 106% 108 26 95% 100% 104% 105 101% 90 104% 107 108% 81 97% 107T% 102% 96% 00% 101 104% ' 109 19% 22% 5 102% 7 102 110 109% & 93% 81~ 84% 83 7 1 66% 67% 1% 86% Yokohama 1AL, crmcamea] |1 OBAI STORES HAVE APRIL DROP Adgregate Decline in Saleé From Last Year Placed at 4.09 Per Cent. By the Associated Press. g NEW YORK, May 8.—April sales of 38 chain store companies, including three mall order concerns, aggregated $210,908, a decrease of 4.09 per cent from $219,916,967 reported by same companies in April last year. Figures for the mail “order concerns alone showed a decline of 9.74 per cent % $52,580,477. a compilation by Merrill, Lynch & Co_ disclosed. Sales of the 38 companles for the first four months this year aggregat $738,358,864, a decrease of 5.16 per cel from figures for the corresponding period of 1930. Excluding the malil or- der concerns, 35 companies had sales of $557,974,310, a decrease of 3 per ccnt from $575.256,062 reported last year. Companies reporting today included: Safeway Stores April sales $17,951,805, compared with $18,325,007 last y Four monthes, $68,657,711, against $72,= 829,430 acmarr Stores April sales $6,586.666, against $7,109,222 last year. Four months, $25,503,388, against $28,743,155 year. Daniel Reeves, Inc., April sales $3.- 310,826, against $3,610,538. Four months $12,034,372, against $12,936,461. WOOL DEALERS FIND MARKET DIFFICULT Only Moderate Business Reported in Review of Week's “Activities. By the Associated Press. “Business is being done in a moderate way more or less steadily on wools grading down to quarter-bloods in worsted descriptions at prices which show little change for the week. Deal- ers find it difficult to turn the new wools at a profit. Scoureds have been rather slow and prices barely firm. “In the West the movement of wool generally has been slow, with prices about the same for the week. The week has been rather featureless in the West. “The foreign markets have been barely steady for the week, London be- ing slightly in buyers’ favor, as have also primary markets. “The manufacturing situation here is healthy. Mills are better sold ahead than for many months, but complain of the difficulty of making any money, and frequently they have sold goods at & loss, it appears. “Mohair 1s hardly changed. with adult Texas quotable at 25-26 cents In the original sacks. “The rail and water shipments of wool from Boston from January 1, 1931, to May 7, 1931, inclusive, were 48,363.- against 48,223,000 pounds same od last r. The re- from January 1, 1931, to May 7, 1931, inclusive, were 56,903,700 pounds, against 71,652,500 pounds for the same period last year.” The bulletin also will publish the following quotations: hio and Pennsylvania fleeces—De- laine, unwashed, 25a26; one-half blood combing, 25; three-eighths blood comb- ing, fihfl!; one-quarter blood combin- ichigan and New York fleeces—De- laine, unwashed, 23a25; one-half blood bing, 23a24; three-eighth blood, 22a23; one-fourth blood, 21. 4 ‘Wisconsin, Missouri and average In- diana and New England—One-half blood, 20a21; three-eighths blood, 21a22; one-fourth blood, 20. Scoured basis: Texas—Fine 12 months (selected), 60a63; fine short, 12 months, 58a60: months, 55 7. Cali®rnia—Northern, 52a53; middle county, 50a51; southern, 50a51. Oregon—Fine and f. m. staple, 60a62; fine and f. m. fr. combing, 58a60; fine and 'f, m. clothing, 54a56; Valley No. 1, 52a53. Territory (scoured basis) : ‘Montana and similar fine choice, 63a64; one-half blood eom! E 57a58; three-eighths blood combing, rth blood combing, 43a45. Pulled—Delaine, 73a75; AA, 'lOl:'l"!; 000 for ti Texas Spring, 24227 1 bag, ‘Texas kid, a50; Arizona and New Mexico, 25a26; Oregon, 27a Domestic graded—First combing, 32; good carding, 23a25. Cape Winter firsts, nominal, 20a21: Summer firsts, 25; Cape Summer kids. 5a47; Turkey, fair average, 25 (in bond). o O % TREASURY STATEMENT. By the Associated Press. easury receipts for May 6 were $64,578,735.39; expenditures, $46,737.- 503.19; balance, $264.274,002.97. Cus- receipts for the month to the close of business May 35,176.04. Sales. Hish. Low. clogs. Sine P L 58’42 2 100% 100% 100% Sou P 414869 ww So Pacific 4158°81.. Sou P&Or ¢34s°71.. Sou Ry gen 43’56 StOIINJ StOIIN Y 4%s Swiss5%s"«6 ‘Tenn Cop 6s "41 Tenn Ei Pés A 47. 7 Ter As St L 4s°53.. 10 Tex & Ark 5%8°50. 4 Tex Corp ev 130 Tokio El Lt 6s’ 53.. Toho K1 P 7 Unit Drug cv 58 ‘53 Utd King 6%s ‘37 U S Rub 1st 58°47. . Un St1 W 6338 A 47 Ud StW 61384 °51 Utd St W 6128 C'51 Va Ry & Pow b8 34 Va Ry 1st 53762 Wabash 4% wnodRewnaalauws 1ol Wil-Ov 1. Wil& Co 1st = 8o Yxstn Sn&’ & staple, o