Evening Star Newspaper, May 11, 1931, Page 15

FINANCIAL. * CURB OPENS LOWER, THEN STRENGTHEN Stocks Give Signs of Resist- | ing Further Downward Trend at Midday. Bpecial Dispateh to The Atar. NEW YORK. May 11.—8tocks on the COurh Exchange around midday today showed signs of resisting the downward trend that merked the opening. Electrie Bond & Share advanced | fractionally ar Cities Service moved in the opposite direction. Cord Corpora- tion in the motors and Mead-Johnson In the food specialities also braced. Btyength In other sections of the list during . the forencon had little effect on petroleum shares. Vacuum Ofl. | which lost. 814 points last week, moved | into new low ground today, »s did Standard Ofl of Ohfo, Solar Reflnlnl’ and some lower-priced miscellaneous is- wues. i Natnral gas shares lagged. but they displayed better resistance to offer.age | than they have in recent sessions. | Companies intimately connected with | the natural gas industry. sueh as | Dresser Manufacturing A. which hit a new low. softened. Poesibiiity that 9-cent copper. lowest leve] in 40 years, might, be shaded before the end of the week, was not indicated on the tape. The few red metal shares that eame out were higher. Consolidated Dairy Products. which hit & new low, was the weakest of the dull dairying group. American Capital R and Columbis Pictures B proved the softest apots in investment truste and amusements, respectively. Gain in ecoal production during the last. week brought about a. betterment in Glen Alden Coal. Nine months net | of 23 cents a share inst $2.96 » | share in the same period of the previ- | ous vear caused some selling of Atlas | Plywood. W. A. Sheaffer Pen with s | point decline established a new mini- | mum price. ' Missouri-Kansas Pipe Line was one | of the firsc of the natural gas shares to show signs of life. Thix move fol- e. lowed the completion of financing nec- essary for it to pay a pro rata share of the cost of finishing Panhandle Bast ern Pipe Line and other pipe lines con- trolled directly or indirectly. Deere & Co. made the best showing | in the farm implements. Alr shares | ‘were exceptionally dull and their price r. Reported acquisition | of 180,000 additional shares of United est, t.!:nb w - mr‘:"ilnur— oA an ob- tained in 1928, brought some life into that issue di the second ho-‘l{ an offer Co. to buy the assests of the company At & value equivalent to $9.39 a share. On May 13 shareholders will hold s to eonsider g share, 80 they will vote on th llflmu? A on the Na Dairy offer at the same time. (Copyright, 1981.) - STEEL PAY ROLL INCREASES. YOUNGSTOWN, Ohio, May 11 (P.| the Spri 4 in| month. The pay roll for April was $5.519.909, as compared to 35.121.- :::o in March and $6,450,797 for April, CHICAGO ST&CK MARKET | B the Associated Press CHICAGO. May 11.-—Foll camplete official list, of tran: m’ on the Chicago Stock Exchange | ¥ Y o o553 2 G S B2 * £ S zstasstny 3 3 5555 R e LR Easna B e » . o W ad & - FBuaata B 38, = - £34 AR ng EsEe £ 53RV &3 3 - ssEEe ,a‘r.':g"';. i A NEW YORK CURB MARKET Note—AIl stocks are sold in one hun excepting those designated by the which shows those stocks were sold in odd ~Prav. 1981~ High. Low. Stock and Dividend Ra AMiiated Prod Aluminum Co of Aluminum,T.td Dwar Am Austin Car Am Capital B Am Cit P&L (A)(a3) Am Cit PALBDH10% . Am Com P A (b10%) Am Cyanamid B. Am Equitiee. Am For Pow war. Am Founders 224 224 L % 4 R% 10 Am Superp 1st (%) Am Util&Gen (B) Am Yvette Co (25¢) Appalachian Gi Arkans Nat G ArkP &L pf Armstrong Cork Asso G & Flct (5). Assoc Rayon pf (6 At Frujt & Sugar. Atlas Plywood (2 Atlas Util Corp Bahla Cor Bahia Corp pf Renefiein) TL (1%) lus Ridie Corp. Blue Ridge cy pfa Bourjois Ine. .. Buckeve PL (4).... Buft NEEP pf (1.60). Rutler Bros. . ) Canada Marcon! . Cent Pub SveA b10% Cent Stat Bl (h10%). Chain Store Devel. .. Chat Ph ALn.v. (1).. Citles Service (g30¢) Cit Sy pf B (60c Clande Neon Lt Clev F) Mium (1.60). Clev Tractor (30r). Colon Of1 Col Pict vte (f1%). Col O}l & Gas vt Crawlth & Sou war.. Com Wat Ser g12e Comstock Tunnel. .. Consol Auto Merch Consol Dairy Prod. .. Con Gas Baltn (3.80). Consol Gas Ut B vie. . .= R s ucne e e Ao s — e Cont Shar: Cord Corp . Corroon & Reynold Cosden Ofl. Creole Petroleum Cresson Consol (4¢). Crocker Whaeeler-. ... Crown Cent Petrol. . CrCork Int A (1).... Cuban Cane propt w. Cuneo Press (2%)... Curtiss Wright war. Cusl Mex Mining. Darby Petroleum Dayton Alr & Eng. Deere & Co (1.20) De Forest Radio. Detroit Alrcraft Cp.. Dictaphone Corp( 2).100: Doehler Die Casting. Dow Chemieal (2). Dress SR A (3%) Dubiler Cond & Rad Duke Pow (5)...... Duquesne Gas Corp Durant Motors. . East St Pow B (1). Bast Util Assoe (2).. Eisler Elsctrie Corp. Flee Bond & Sh (b8) . 20. Elec B & Sh pf (§).. Elece B&Sheupf6.. Elec Pow Asso A (1) Elec P & Lt op war.. Emp Corporation. ... Eimpire Pub Sve (A). Emp Steel Corp. Fageol Motor Fairchild A vy on Lead. Federated Capi Fiat rets (343%¢). Ford Mot Ltd 36 3-5e Foremost Fabri Fox Theater C1 Gen Alloys. saf P A T Toaam? S BB eeMa e RA AN e Gen The BEq ev pf(3). Georgia Pow pf (6).. Globe Underwr (15 | Gold Seal Elec new Goldfield Consol. Goldman Sach T C. Gramaphne rets(pl Guardian Invest. Guit Ofl of Pa (1 Hamilton Gax ret. Happiness Candy... - Hecla Mining (40c). Hudson Bay M &S .. 11 Pofr&Lt eu pf(6). 2| 1mp Oil of Can t50e) Ind Ter Illu Ol A.. BT e mBoa Insurance See (10¢). Intercontinent Pet n. 1fit Hydroevpf3%. Int Petroleum (1)... int Utilities B. . .. Int Utilities war. ... Interstate Eqities. . lalian Superpow A. Kirby Petroleum. . Kirsch Copf (1.80) .. -Br (Am 8h). Tom—wn 26, | s BY CHAS. P. SHAEFFER, Associated Prese Businiss Writer. A gigantic gesture will be attempted Sponsored by the Government depart- dred-share Jow letter = (80s) (260s), the large centers a ceptible | improvement. upward trend is obviously due to sea- operations other than those under the control of Na- tional, State or municipal authorities are very little in evidence, o difficulty of financing, handicap exists in the lau; . m-nmwlu:ummnlufluvfu-‘m types, such as home building. The charted ent low estate of eotton. raf | the econstruction movements by graphs | THE_EVE ~Prev, 1931~ High. Low. 25 144 294y 100% - 36% Liong 1al; gh. 106% Long 1s 19% 2 @ Mesta M: Mid St P Mo-Kan Mo-Kan Mohawk Mountai Murphy NatC Nat Fam Nat Pub Nat Servi New Bra N Niag 8h Nipissin; PacG & Pan Am Pandem Paramov Pennroar Penn Me: Phoenix Phoenix Pilot Ra Plvmout! Polymet Pub Uil ¥ Pure 011 Raymou. Red Ban! Reybarn Reynold: H FF ® F &F Roek Lt e e o 285 enma33aay FEE ¥ Selected Shes ffer stock Dividend Rae. Lone Star Louisiana Lan & Bx. Nat Fuel Gas (1) Nat ST Sec A (1606) Nat Unton Radio. . Pac Western O1). . Producers Roy Puget §d P&L pf (5) G _STAR. W Received by Private Wire Direet te The Star Office ana . toa— Add 00, Open. Bigh. s nife. B 16 168 and Lt (80¢) 3 3D 32 cupfB (6). 1008 106 106 1 Low. Otose. 165 31l 106 1 % ) 5 &Telev(l 10 Johnson (t4). . Memph N G Co (80 achine (2 Mexico Ohio Oil. Mid W St Ut (1% Afid West Ut (b3 % rod n (2). Pipe L (A}, Pipe 1. (B) Hud 15t (7) B0e n&GuIf (4e). Co (1.60)... A pf (th5e).. 1ly Stores. .. SvA( ice Co. 4 Of) (28¢).. New Eng Pow pf (§) 30 Newmont Min (4). N Y Steam n (2.80).. ) Md (406) . Niles-Bem-Pond (2 X (30¢). Neordon Corp Ltd Elstof 1%. Alrways. ... on. unt Cab Mfg Parker Rust Pr (3).. d Corp (20e) x Fusl (p3). Penn Pw & Lt pf (7). Peop T, & P A (2.40).. Pepperell Mfg (%) Perryman Eleetrie. ., Secur Corp.. SCopf (%)... d Tube A. ... Pitney B P n (20c) h Ofl (1), Mfg. Hold war. .. pf (8) d Con pf (3), k Reliance Int A Reliance Manag. 0. .. s Invest Richmond Radiator.. Rich Rad cum pf. ... & P (90¢) Roxsia Int Corp. St Anthony Gold. ... ) Schulte Real Estat. Seg Lock & H (50¢).. Seiberling Rubber. Industries. . Sentry Safety Con Pen (13). Shenandoah Corp. ... Shen Corp pf (13). South CEdpf B1%. South Penn Of1 (1) SouthernNat Gas. Southld Royalty §0e. Spanish & Gen rets. . Spleg May Stern pf.. Stand Oll of Ind (3).. Stand Of 1, Ohto (234) Stand P& L pf (1).. Stein Cosmetics. ... Stetsont (John B) Co. Styts Moter (new) Sunray Ofl (b5%). .. Swift&Co (2).. Teek Hu, ‘Technieolor. Ine ‘TranCon Air Tra: Trans Lux DLP S Cantillon ( Tui ghes ($0¢) Ungerieider Fin Cp.. Union Am Invest. ... Un NatGas,Can Un Tobaeco, Unit Chem pt Unit Lt &Pwr A - Unit Lt&Pwr(B) (1) Unit Lk Pwr pf (8). U8 Elee Power In 1 Becur, u U S Inter Seo 1. U 8 Playing Card 2 Unit Verde £xt (2) Util P&Lt(at1. %) Utl &Ind...... Utility Eauities.. ... Util Equity pf (53%). Vacunm 011 (2). Van Camp Pkg. Walker (H) (1). Walker Mining, +Y" Oil & Ga. Zonite Produets (1).. ™ men in “cash £ Plus Plus 3% n Plus 8% or in dividend. % 124 12% doliars based o or sammy-a atock b Py 5% in stock. stoc] in stoe rs to show per- | although the | activities. Large o the same | nching Dli and tion has 85 per cent of the bullding cost of a ship. The minister now can grant to the shipowners the same allowance as if the amount of the loan were equal to 85 per cent of the cost of the vessel, & change that is intended to assist small mf"“ not having a sufficient number of vessels to give the full pledge as required under the credit maritime. reeeived by the National Manufacturers' Association mills indicate orders re- Reports Lumber from le: x| 841000 head, opened slow around steady with Priday: | IUNCERTAINTY FELT IN MARKET TREND | Some Brokers S(reés Lack of Leadership in Their Daily Letters. By the Associated Press. NEW YORK, May 11.— comment. on the market. today revealed considerable uncertainty as ta the probable course in the immediate fu- | ture. Some stressed the lack of con- ‘< structive leadership. Opinions fallow: Otis & Co.—The immediate eourse of the market remains a toss-up, with a_jstrong technieal position balanced by continued unfavorable business fac- tors. _Hornblower & Weeks—It in our opinion that the market is slowly reaching a saturation point, as far as unfavorable news is concerned. and we feel fts immediate direction will be in- fluenced by conditions within the mar- | ket itself rather than ontside factors. | reaching for a bottom. the stock mar- ket again is in doubtful position. Tt | courage they can bring about the “jiggles” in technically strong stocks such as widely talked of now. The test of their strength will come when weaker short covering is ended. and for that reason caution is necessary in tollowing rallies. Redmond & Co.—We anticipate that another effort, may be made to raily the market, this week, particularly if some constructive trade news develops, but we are not. particularly impressed with the leadership on the bull side and con- uently are reluctant. to follow it. On same sponsorship that. was behind the {ll-timed rise last February. Real con- astruetive \udenhly has not yet. made | ita appearance 2o fa determine. However, we would prefe to await the market's response to fur- ther selling pressure before hazarding an opinion as to its next general trend. Babcock, Rushton & Co.—We are in- "l clined to expect s secondary reaction, but also think it rerfocuy possible that this reaction, if it oceurs, would either be of negligible proportion or might not accur at all. Smith. Graham & Rockwell—The out- {look for the near future suggests that | the market, as a whole has not yet asen bottom. consequently when bulges come slong they should be used to cut down ‘holdings. New York Cotton NEW YORK. May 11 (#).—An early decline of approximately 31 per bale in cotton tnday was attributed to realizing and acattered selling inspired by rela- | tively easy Liverpool cables. erings were absorbed by some covering or trade buying to fix prices, however, and after selling off to 9.90 for July, or 22 points net lower, | prices recovered about half their loss on covering, which followed reports of & steadier tone in securities. July sold % | up to 10.00, with the midafternoon mar- | ket quiet and steady at net losses of about 10 to 12 points. | CHICAGO LIVE STOCK MARKET CHICAGO, May 11 (#).—Hogs—38,- including 12,000 direct. !later trading active, strong to 10 higher: top, 7:30: buik, 160-210-pound 10a7.25; packing sows mostly strong weight pigs, 6.75a7.10: t, good and choice, 140-160 pounds, 7.10a7.30; light weight. 160-200 pounds, 7.15a7.. medium weight, 200- 250 pounds, 6.90a7.25; heavy weight, 250-350 pounds, 6.2526.95; packing | sows, medium and good, 275-500 pounds, 15.5026.00: slaughter pigs, good and | choice, 100-130 pounds, 6.75a7.15. Cattle—17,000 he: calves, 2,000; largely steer Tun: weighty kinds in ex- cess supply; bidding 25 lower on offer- ings sealing 1,100 pounds upward; light steers and vearlings about steady; early top light vearlings, 7.00, with nu- merous loads 7.25a8.25, best heavies early 8.00, but some held considerably higher; other classes mostly steady. Slaughter cattle and vealers—Steers, good and choice, 600a900 pounds, 7.75a \"“: 900-1,100 pounds, 7.75a9.50; 1,100~ 11,300 pounds, 7.75a9.25; 1,300-1,500 pounds, 7.50a9.25; common and me- dium, 600-1,300 pounds, 5.75a8.00. Heifers, good and choice, 550-850 | pounds. 6.5028.25; common and me- | dium, 5.2526.75: cows, good and choice, 5.0006.00;, common and medium, 4.50a 5.00; low cutter and cutter, 3.25a4.50; bulls (yearlings excluded), good and cholce (beef), 4.0085.25; cutter to me- dium, 3.3584.50; vealers (milk-fed), good and cholce, 7.5089.00; medium, 6.50a7.50; cull and common, 5.00a6.50; stocker and feeder cattle, steers, good | and choice, 500-1,050 pounds, 7.00a 8.25; common and medium, 5.25a7.00. Sheep—14,000 head; early 15a25 hicher' better grade wooled lambs, 9.25a9.85; few clippers, 8.00a8.25; Call fornia Springers unsold; natives, 11.00 212.00; outstanding clipped ewes, 3.40; lambs, 90 pounds down, and choice, 9.00a9.85; medium, 8.2529.00; 91-100 nds, medium to choice, 8.00a 9.75; all weights, common, 7.00a8.25; Brokers’ | Shields & Oo.—While business i | professional trading leaders have the iday the market. appeared to have the | r as we are able to | ) STOCK AND BOND Ry the Asseciated Prass, AVERAGES MONDAY, MAY 11, | CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS By the Associated Press. NEW YORK, May 11.—The follow- | Ing 18 a summary of {mportant eor- | poration news, prepared by the Stand- | ard Statisties Co., Tnc.. New York, for | the Associdted Press: Weekly News Review. ing the past week was of more in- | terest. on account of its character than |bm use of the extent of the price movement. Twe points in particular became evident—the apparent resist- ance to pressure that heretofore has | caused losses and the lack of convine- ing trend for the week, up or down. lling pressure that has been ex- erted consistently on special stocks in | recent weeks continued through the | first. four sessions, causing the market | to continue its downward course through Monday. Thereafter ability to | gain, in spite of selling and in spite | ! of weakness in favorites, became evi- dent. A rally on Friday recovered im- portant ground, much of which was | | lost, however, during Saturday’s short | wession. . | The result of the week's operations, as measured by the Standard price in- dex of 90 stocks, showed a net’ gain | of 6.3 points to 122.6 on May & from { 1163 on May 1. This advance was | participated only by two of the three divisions. industrials and utilities, the | former of which gained 7.5 to points to 172.2. Rails showed a rise of 0.1 point of 83.1, which is, practical- Iy speaking. no movement at all. The action of the New York Federal | Reserve Bank Thursday afternoon lowering fts rediscount rate from 3 per cent to 114 per cent, the Jowest on rec- | ord. was considered generally construe- | tive. While this may reflect lack of | industrial demand for funds, many be- | Ueve that it will aid investments mar- | kets. Certainly the lower rate failed to present Friday's rally on the stock market or to depress bond prices. | During the week bond levels, as in- | dicated by the Standard index, rose 0.7 | point to 954 on May 8. Principal | strength _on the bond market was ex- hibited by short-term Government is- sues, largely' because the lower bill | buying_rate established by the New York Federal Reserve Bank diverted short-term- funds to these and other channels. | On Saturday the United States Steel | Corpor | of April 30 97,601 tons Below those on March 31, a drop in line with the un- | official estimates previously published, | but somewhat discouraging as confirm | ing the existence of relatively unfa. | vorable situation. Mill operations for | the week ended May 4 were estimated at 47 per cent of capacity, against & | Jittle over 48 per cent the week pre-| | ceding, indicating a retarding of the tendency to level oft. On the favor- | able side, higher pig iron output for | | the whole month of April over March .and heavier demand reported for pipe line and other construction are coun- terbalanced by unfavorable news of the blowing out of three blast furnaces during April, declining scrap prices and Jower April rail production. Retall sales reports for April received during the week showed about the same | drop below April, 1930, that was shown | by March sales, a drop relatively small and making an appreciably better com- parison with 1930 than can be shown by other im t lines of activity. Aggregate sales of 38 systems in April were off 4.90 per cent and in the four months ended April was 5.16 below 1930. 4 ended April 25, reported Wednesday. were more unfavorable than is at first apparent by the fact that the normal trend for this week of the year is up- ward. Aside from statistical material the railroad news of the week contains a report by the New England Gov- ernors’ Committee favoring & cut in the interest held by the Pennsylvania in the Boston & Maine and the New Haven, to be followed by some unifica- tion of the two New England carriers. Sentiment in favor of a detached rail- road unit for New land has long ng among New The acticn of the stock market dur- | 1187 on May 8 and the latter 7.2 Pr in | of this ration reported unfilled orders as | downward trend of operations and a| Preight car loadings for the week regist | and A. 6. Newcomb appointed receivers for company: finaneing efforts alleged | mlhlve lllfled, - | " Loft, Inc.. nperations reported sub- :-"fl""r“"i better than year ago as 8 result of larger zales and low of | manufacturing costs: candy output | about 1.000,000 pounds a week, against | 380,000 vear Philip Mc Lid., eommon are ngs, year ended March 31, $1, against $1.03. Tampa Eleetric common share earn- | ings, 12 months, to Mareh 31, $2.75, | against $2.58. | United States Steel unfilled orders on April 30 totaled 3.897,729 tons, 97,601 below March 31 total of 3,995,330 tons, against. 3.965,194 tons on Pebru: 28 | and 4,354,220 tons on April 30, 1930. White Sewing Machine March quar- ter deficit 340,062, against deficht of 876,088, after adjustment, to reflect. new ?;;lc_v of providing for reposseasion, in 30. McKesson & Robbine makes new wholesale outlet by a distribuf Ar- rangement with Philadelphia Wholesale Bangor Hydro-Electric Co. net in- come, 12 months to March 31, $856,722, against ‘& oo, $826,977. Humble Ofl & Refrigerating Pipe Line mhl\dhr{mun Interstate Commerce Commission suthority to eut rates 20 per cent on 30 days' notice. Pacific Ste: eferred share March 31, $12.84, TR , 12 months, to Tidas Refn m:dfl?]p:l“ of 40 a) Mm{ at_price cents a barrel for East Texas crude; former prices ranged from 67 ecents a barrel down. American States Public Service met income before reserves, 13 months to March 31, $402,792 $327,268. American Stores aales, 5 weeks ended May 2.-off 3.3 per cent; 17 weeks off 3 per cent. Connecticut Railway & Lighting 1930 net income $779.218 vs. $779,313. Pederated rtment .Stores eom- mon share éa year ended Janu- ary 31, $2.34 va. $3. - Co.—Nine members 's board elected to di- Cuban Ameriean Man- ganese Grand sales, & weeks to May 3, off 5.9 per cent. Moto Meter Gauge & h!qldwnmt aga shareholders were deceived in regard to actions of company which they rati- fied at annual meeting. Royal Dutch Co. subsidiary. uelan Of1 ions, Ltd., declares 12%, per cent final dividend for 1930 making 177, per cent for year vs, 20 per cent for 1929, Union Electric Light & Power of Tlinois eferred share earnings. 13 I;n’?#'t;n March 31, $21.64, against | American Seating March 225, against deficit $108,460 1930. corzpormon 1930 class A share earnings 32 cents. against 61 cents. Consolidated Retail Stores April | sales off 13.4 per. cent; 4 months off | against $12.43. rectorate common share earnings, 12 months to March 31. $2.32. General Motors—1.984 V-13 Cadillacs delivered at retail inhlli months since 31 g proposes retiring outstanding class A and B preferred stocks, eliminating authorized pref: and reducing authorized common 200,000 from 1,000,000 shares. Wnited Aireraft’ & Transport April ger trafic, New York to CI 3 Alr Pransport. subsidiary, increased 100 per cent over March; all passenger traffic increased 26 per cent. General Foods April sales and earn- ings reported better than year ago. » The Industries. Automobiles—New ear registrations in first 12 Statessreporting for April totaled 42,160 cars, against 31.519 in March. increase of 33‘per cent, and equal to 73 per cent of the 35,855 new cars regis. tered in April, 1930; of April total Ford tered, 12935, against 8,968 in March, and Chevrol®, 12,877, against 9,7 Coal-#Commercisy stocks ®f bitum- dnous coal, used primarily for industrial purposes, totaled 29,500,000 tons April 1, & decrease ‘of 7,700,000 from end of De- cember and smallest since 1922, accord- ing to Department of Commerce. Soft. coal output during present calendar year to May 2 amounted to 134,030,000 net tons, against 162,703,000 tons for the 1930 period and 1 67,000 tons in 1929, Cotton—Standard cotton cloth “sales in four April weeks were 61 per cent of “ to erred. to Markets at & Glanee | NEW YORK. May 11 (8. —8tockd irregular; General Fleotric under pres< sure, Bonds irregular; & and uthities 3 Mmm improved spot situation, Buropean buying. CHICAGO. May 11 (). -Wheat, sany good_moisture Northwast. Corn easy; beneficial rains Oentral West., Oattly lower. Hogs steady to higher. DOMBSTIC RONDS. 2l 4 R, Pu 4ias 61 90U Co s a1 s ] ] B inum 5 g 3 e 3 k3 8 g ! : R El | 2272 2323321 3 332, * ’ L - S3E2adien & i g il = S gy > £ i 232 e i 32 ey o #3:‘}_t§= 28 0 L) 3 = s - SELTBRua > ] g ] 23] 43 72 20243 : FJ ;4 SSEesassEssngstelso S85asEEEE o f?"“ Eod 2! 33 523 38w 1 2 S e 5 3 ! R 9EEe 223 % 228! ) s .!:;SBSISEB“., £3 i 23553 T IS 9582 33239 aian2223% [ v Ry cod “ 10t G Service 8 %6, g8 o1 %, % Tt R R g R8s aca BB =3 90000 Seens 233 ¥ ¥ 28 & 9! 288! 5 ?S?gb § L 992988 yepie 33033 # 5 2 H T o Qi i 2% _g" 10 I IR e B F5) 55 & FEOFF R 355 2mie i s o ) dsies’s ! & & Sof :l‘a’ Pas ol LEL F & & i e o o 2IRRIBIBE=2322 R f »>85 0> = £ i 2B IR 13 FE5 st H FEE FF SesasSerrFu-vunutBoewilenals. P el WL LT wot #ar 222283822233 5 5 E3aaBaRiEs £ R 3522822as > g Ry iy - a3deiis 3 juny: :n:!;g e Fa2BE s mae e ae s m i s &, “é;?:i %) 33 =8 ) . SETY ; € 232822 FCEE e e §iamm F R o 2RRBRI22 3 SEa g s fos. oyt 223 Ly TN Ay L ) e o S5 - - fe Seeliul 238273 o S5eRazanaRsRE 833 9o 2. £ OFFEE 2! & il :} = 3% SEEEEL 5 o2 5> B85, 3 o-.....i..-... .-. 239 e £ Ié;fl: - " H i E 599" ~EQ v [0 L St 3352 ¥ 2335 - SeEeTe w5 2 T S S 22 ) e R N3 ttEiTEelE » Bt 95 2 we Sl SRR Z oS uenBas aumaabaa Bl ) .. 9282 (459 ,‘5 A4n 2 arem, 3 29888252 0835s! 333 22222222 SOTE # B, PR SR IR £} i 0;_ P EE € -= b w'g 5 % "k S0 ISR 222 ik 2 H 23323 i tlnd 2373 s g5 3, 2333333223283 3= 53" 3 2! SRR Se33u8szE 9923 P el 23 =5 . 3383383232228 ri 38 3, i gRnis S0, Eat S > ) o 22 Icc 35 =35 E3¥zE3ERs iR P g::m been recognized been England interests. In the West carriers will be affecied by a temporary injunc- tion obtained against enforcement of | lower grain rates ordered by the Inter- m’:.a cmn'x:en:e Commission. ew automobile registrations in the first 12 States re g an In- crease over March of 33 per cent, though 27 per cent below Am. 1930, howing considered not entirely un- favorable. Production by members of the National Automobile Chamber of Commerce, excluding Ford, in April, 5 ments of Commerce and Agriculture, and directed by the American Cotton Manufacturers’ Association and the Cotton-Textile Tnstitute, the movement, | known as “cotton weel will be Na- tion-wide 1n scope, and will be partici- | pated in by growers, manufacturers and : distributors, who hope 1o restore in sub- | stantial measure the interest, in the m-‘ | tile which has been fading steadily for | ewes, 90-150 pounds, medium to choice, 2.7524.00; all weights, cull and com- mon, 1. 5. e mills during the week May 2 equaled production of feet. Shipments from the mills were 10 per cént in exeess of this CEEEELE ] St ! 55 April production amounted to 225,95 000 yards, or at raté of 56,489,000 yards ‘were 96.3 2z =3 33 o aggg a week: shipments in April per cent of production; stocks on hand at end of April increased 3 per cent over those at beginning of the month, vhfl: unfilled orders decreased 21.3 per cent | 3 seem from experience that must lead in the ”"m"“"'fl'u_"g covery. . “Home building in normal times con- tributes most to the aggregate volume and it is in this direction we Jook first for the upward swing. We do not look for any marked increase in this of oconstruction during 1931, but fi Silk Survey Planned. NEW YORK. May 11 (#).—Thomas B. Hill, president of the Silk Association of America, Inc., announced today = comprehensive survey of the silk in- dust u‘,w“lll be undertaken by the Tte ose, he sald, was “the collec- 2 £} FORBON 2382283322233 382 T SeeE & R 2582 0LEZ.88 BT 2SEECNE, ! 39 e FFFF SIS or west” Binicor g MONEY MARKET. NEW YORK, May 11 (#.—Call 28Y, 27 e '3 238922328233821 GHICAGO, May 11 (#).—Whest and corn prices averaged lower today. with 3 | T P 834 T Y | | 140 * | years. | 8 e fi be launched in terms of sound merchan- and designing by the eotton mills in the The plan, #s tentatively devised. is to | sou dising based on the fact that cotton is now selling at the lowest price in 15 years as reflected in current retail prices of merchandise, and also recogniticn of improvements in styling United States in the last 18 months. in The Government has for several tendeney toward seems under way years that are to follow.” The Commerce Department reports | 31, t the stal tion which ises better 'hlnpl next yesr and probably for several of boots and shoes in the nited _States M the highest level, with one hne'::fi:: longed the last 14 months. tput during the month amounted considerable selling based on auspicious reports about domestic Winter p:ehuv pu?‘ecu. Chicago crop experts tele- graphed first-hand observations that the Kansas outlook was almost perfect. Ne- braska adviees sald the stand was ex- ceptionally heavy, but that the crop was susceptible to damage in case of pro- dry period and also by rust. ‘Whent closed irregular, % ecnis lower to % advance, eorn unchanged to 1 cent tion and analysis of ' market facts which will permit recommendations to the Indu-u'y conditions.” The survey, to embrace all branches of the silk industry, will be started as soon as preliminary details can be com- pleted, Mr. Hill said. SHORT-TERM SECURITIES. for the betterment of trade | was estimated to be 20 per cent over March, an increase a little less than " nother Teresse rage er in the daily ave output of crude oil in the country, thought relatively small, again calls at- | tention to the dlwourl;gl sityation existing in that_quarter. news also contains evidence of further price weakness, evidencing a somewhat sim- ilar situation in eopper. money easy, 1 per cent all day. Time loans easv; 60 days, 1'2a1% per cent; 3 to 4 months, 1%;a2 per cent; 5 months, 2a2Y, per cent; & months, 2a2ls per cent. Prime commercial paper, 2%a2%; per cent. Bankers' acceptances un- changed: 30 days, 1%,al%; per cent: 60 to 90 days, 1%alls per cent. 4 months, 135a1Y, per cent; 5 to 6§ months, 1%a F5969 gRaZ __M Py L) l}?fi'—'fl”fi B S B8 5 N F 134 per cent. e, SHIP $1,000,000 NEW YORK, 11 (.—A ship- ment of about u‘;?'m.ooo ‘1:) Banco de la iblica, lombia, is en route to the Trust Co. of New York on the steamer Sal- dch salled May (Reported by J. & W. Seligme c3BesdEtondites 3e 3330 e3s 13 3 2B Oul 8% | years, under congressional appropria-| (o 29,154.774 pairs other than rubber, iion and in co-operation with the Cot- | 88 edmpared With 23,970,986 pairs in ton Textile Institute, been Mu,:‘m , & gain of 31.6 cent. and extended uses for eotton. in- for the three months dorsement of the movement is, there- the yesr was 73,014,509 pairs apd fore, in keeping with the poliey of Con- this quantity Massachusetts gress in recognizing the widespread | duced 23.7 per cent. mmvmnu popular interest in the subject and the region was responsible for 37.2 per cent. benefits to be derived by & large pro- | All of the important producing States portion of the countrys ~population B4 pronounced production increases | through acceleration of eotton demand. - d | 1t s felt that a stimulation of consumer | . interest in such an important eom-| CHeACH FE modity will contribute to a general buy- ing movement in other commodities. It is estimated by the Commerce De- | partment that 5,000,000 American adults and $5,000,000,000 in capital are em- Pplo; in the production, manufacture and distribution of American- ) cotton, and that approximately 1 | 000 persons in the United Sta their living directly from cotton and its producta. » Truman 8. Morgan, president of the . W. Dodge Corporation, sa; things Are promised for m”nm industry mext year. In an interview here, this bullding ;':;lnmley summed up oonditions as Jows : “The situation outside of some S down, oats unchanged to 'aa', off, and visions showing 2 to 5 cenis decline. WO The Companies. Atlantie, Gulf & West Indies 8. 8. 1930 $5 preferred on n of shares outstand- hshlldl against $22.57. Co. April sales off 11.6 per cent; 4 months, off 12 per cent. First National Store sales, four weeks ended April 25, off 3.2 cent; De- cember 27 to April 25, off 3.9 per cent; tonnage sales up 11.7 per cent, four weeks to April 25, 100 GOLD. % i 102% 1 i % e RANR I Wio Bancan® Btock sales lodns, 93,000 shares BONDS. L ’§§§§fig“ g 3, May (old).. May (new).. July n‘:'r AR El! (old). o T B Sronsonsra ool o S rsrsnscs Rion ot W T o T e lding interests are to | 1 benefits under the | of STOCKS EX -DIVIDilD. NEW YORK, May | . —Stock: - aividend toany: " '+ ol S223388e% &N F MAY 21 { goaesal Dispaten to The Star. BALTTMORE, May 11.— &5 Ju May TREASURY OERTIFICATES. ...7’..'.’.!”‘ . lm. € te-] l\l‘ Ly, o 3 i ¥ 1000 Silies Giel S-year 8l4s.... i 3! 13, Dee, 18, 1 No unfinished book has. perhaps, ever * Prof. Riceard of Brussels will created so_much. w“omw to reach & height of 10.miles.in a. 4 e i 333! NEW YORK, May 11 (P). A 8% and m Gugen, ‘,:::.c.i:s = : . r 54 1 Ooncord, generation Emerson, Hawthorme. reau, the Alcotts and W. E. Channing. & astar a3gs: F SR e BONDS. o General Motors April retail Frigidaire mduefion expected to cent ou about. 300,000 tons, against iy cent; 4 months, up 12.3 per cent. 1 cent from . reat, Atiantie & Pacihc Tea opens sales up 77 per cent over March, car- lead shipments up 23 g:r cent: May 43 per her than year ago. Island Creek coal A 32,220 in March and 392,001 year ago. Lerner Stores April sales up 7.1 per Magma to ocease Ogcu!m for six % June 1 i April gross to show m‘g in one store in Seattle, its first retail store in Jordan Motor Car Co.—J. McArdle