Evening Star Newspaper, May 24, 1931, Page 63

FINANCIAL. BUSINESS SParTY WEEK OF MAY 16 Department of Commerce Re- view Reports Bank Debits Lower. By the Assoclated Press. Business conditions continued spotty during the week ended May 16. DEALIGSON GRS DOHNTO NN Only 150,000 Shares in Less Than 200 Issues Change Hands in Day. BY CLAUDE A. JAGGER, Associated Press Financial Editor. NEW YORK, May 23.—The Curb | In its summary of the situation at) home cnd abroad, the Department of | Commerce reports that bank debits out- | side N7 York City declined from the | prececing week, and were lower than | the same period of 1930. ! Total loans and discounts of Federal rve member banks showed no change from the level of week ended May 9, but were well below those of a year_ago. Interest rates for call and | time® money showed fractional changes from the preceding week. As compared with the week ended May 17, 1930, they ‘were considerably lower. Average prices for industrial and Tailroad stocks on the New York Stock Exchange continued to decline and were also materially below the 1930 level. Business failures were less numerous then a week ago, and showed | but slight change from the same weeck last year. | | Wholesale Prices Down. | ‘Wholesaie prices, as compiled by the | Irving Pisher Institute, declined slightly | from the preceding weck. This decline | was distributed generally through the agricultural and other commodity | groups. Prices for iron and steel, as measured by the composite index, showed no change from a week ago. | ‘The prices of middling spot cotton and | electrolytic copper at New York in keeping with declining prices, were Jower than a week ago. These last named prices also showed declines from the same week in 1930. An unimproved situation is reported for the Argentine. The fixation by the | g:vvmonnl government of a definite te for provincial and presidential elec- tions has somewhat cleared the political uncertainty, but the failure of several large commercial houses has increased | the lack of confidence among the busi- | ness and banking circlcs of the coun- try, and this, added to the violent fluc- tuations and weakness of the peso ex- | change, has adversely affected the | movement of imported merchandise. | In Brazil the Coffes Defense Council s now buying coffee for destruction. It | is reported t frosts have done dam- age in the interior of Sao Paulo. The exchange was firmer and stood at 15/ milreis 100 reis to the dollar. Imports | remain nearly paralyzed, awaiting de- velopment in the exchange situation. | Recession in Canada, A fairly sharp recession was noted in trade and industry in all sections of | Canada, the decline being most marked | in the prairie provinces, where trade and industry are generally quiet and the commercial tone increasingly pessi- mistic. The sale of new and used cars | in this section during April was below | cultural implements are slow, although | dealers are hopeful of gains in the next few months. ‘The Peruvian situation leaves much to be desired, as business has been at a standstill in Lima during the last two weeks as labor disturbances assumed se! chauffeurs’ proportions. The strike commenced May 5 and still con- organiza - tinues, while that tion is pre- senting its demands to the governmental Arbitration Board. However, the gen- Market shrank to baby proportions in a listless week end session today. | Utilitis eased, olls were steady mi firm and industrials mixed, in a turn- over of only 150,000 shares. Less than 200 issues were active. In the utilities Brazilian Traction, | which has rec:ntly rallied, to the ac- companiment of rumors of Canadian support, fell back nearly a point and closed off 33 net. Electric Bond & Share lost as much, and American Superpower ;. United Light A was about steady. -In the oils Cities Service was active, rallylng ; point to 12',. Gulf also moved up & fraction and other petro- leum issues were about steady. In the investment trusts Continental Shares convertible preferred sold up 4 points, on announcement that the Mather interests had purchased a large block of the common stock. The Blue Rldge1 issues firmed, the prefs<rred gain- g 134. . Franklin Manufacturing sagged a point to a new low at 3. Stutz, on the other hand, rose slightly. Garlock Packing sank a fraction to a new low. Newmont Mining rallied a point, then reacted to close unchang:d. In the natural gas issues Saxet was firm. OTHER CARRIERS MAY JOIN FIGHT ON RATES Lines of West and South Are Still Undecided on Just What to Do. By the Associated Press. NEW YORK, May 23.—Dow, Jones| & Co. in a discussion of the freight| rate situation, says the railroads serv- ing the West and South are undecided | as to whether they should join the movement launched bv the Eastern carriers for increased freight rates to restore their service and credit. The head of one Eastern road, the discussion said, s of the opinion that the roads in other sections of the country should be brought into the movement. It was pointed out that roads in all section of the country could be petitioned by some outside agency to | come forward with requests for higher rates, and it could be set forth that sh\!;fh” rates for the railroads would re- t in them spending more money for materials, which in turn would benefit many industries. Our Flag Among Oldest. Every one of the major powers of | the earth has changed its fiag, as well as the form of government, at least once and sometimes several times, since Betsy Ross sewed the first Stars’ and Stripes together. There are today only three nations in the world, three smail countries, whose flags are older than our own. These are Denmark, Switzer- land and Holland. Old Glory is the oldest flag flying anywhere on earth, with the exception of these three. Live Bears Travel by Plane. eral strike of central market and bak-ry | employes, stevedores and textile work- | ers, which was called in sympathy with | the chauffeurs strike, has ended. | An ordinance still on the books in | Belleville, Tll, prohibits parking any | vehicle without a horse or beast of | burden attached to it. “ had “Two live bears were “passengers” in an air liner from Paris to London re- cently. They made the trip in three hours, and apparently enjoyed it. “We no trouble with them,” said the pilot, “as they were in wooden cases, but I sent the mechanic into the freight hold several times to see if there was | anything amiss.” STOCK AND BOND AVERAGES By the Assoc! inted Press. SATURDAY, MAY 23. P gi.i;_s Utilities. 100.7 100.7 100.8 100.5 (Copyright, 1931. Standard Statistics Co.) HOW IS B USINESS? Showing Current Business Activity compared with Same Week Last Year. eclines from e weeks 12 months earlier. ACTIVITY BY FEDERAL RESERVE DISTRICTS. with the same week a year a; Cleyeland |~ Richmond | —23.4% —21.2% | Minneapolis Kansas City | Dallas | —265% | —265% | —2%50% LEADING BAROMETERS. Showing Trend of important factors, Business in dollars (checks cashed) (Dt)lflmell‘::'hbe Wages (Depariment of Yoo ue 5 Cost of living (Industrial Conference Boa Whelesale prices (Fisher's Index)..... Downward Downward Downward THE FOR WEEK ENDING MAY 23, 1931. —1031.— High. 12 223 19% 1 4 102 Low. Stock and dividend. 6% Aero Underwriters . 11% Affiliated Prod (1.60) 5 Agfa Ansco.. 67 Agfa Ansco pf 8 Alnsworth Mfg Corp 9% All Amer Gen Corp. 1% Allegheny Gas Corp 4% Allled Mills Inc(60c) 113% Aluminum Co of Am. 100 Alum Co Am pf (6). 14 Alum G'ds M (1.20) 46 Aluminum Co. Ltd. 21 Alum Iyd A war... 26 Aluminum, Ltd (B) war. 24 Aluminum, Ltd () war. 30 Aluminum,Ltd (D) war. 23 Am Arch Co 3).. % Amer Austin Ca 1'% Am Brit & Cont 2% Am Br Bo El Fd 3% Am Capital (B).. 60% Am Capital pr pt ( Am Cizar Co %). 11 Am Cmwith P A1b10%), 415 American Corp (15¢). 6% Am Cyanamid (B). 1% Am Dept Stores 3% Am Equitles. 14% Am ForPwr war..... % Am Founders. ..... Am Gas & Elec (1) High. 10 102% Am Gas & El pf (6) . N 4% Am Investment Inc (B). 1% Am Inv. Inc, war.... .. 26's Am Laundry Mach (2).. 39% Am Lt& Trac (2%).. 224 Am Manufacturing (4) % Am Marzcaibo. Am Meter (3). 213 Am Natural G Am Stat Pub S: 9% Am Superpowr (40c). ... £11x Am Superpwr 1st pf(6). 8215 Am Superpo pf (6)..... 3'% Am Thread pf (26¢c) 315 Am Transformer. 21, Am Util&Gen (B)vtc. 20% Am Ut&Gen cum pf(3). 1 Am Yvette Co (25¢).... 314 Anchor Post F' (b10% ). 7 Anglo-Chilean Nit. 4 Appalachian Gas % Appalachian Gas wr 4% Arcturus Radio Tub, 3% Ark Nat Gas. 3% Ark Nat Gas A - 5% Ark N Gem pf (60e).... Armstrong Cork (1). ... 41 Art Metal Works (60c). . 36% Arundel Corp (3)....... 41 Asso Elec Ind Ltd(30c). 15 Asso Gas & Electric 7% Asso Gas & Elec A (a2). 19 AssocG & Eallctfs.... % Assoc G & El war. 6713 Asso Gas & Elec ctfs(3). 1% As80G & E deb r 68 AssoG&Epf (5). 15 Asso Laundries vic. " Asso Rayon....... Asso Rayon pf cod (6).. Asso Rayon pf (8). Asso Tel Utl] (b2%) . ... % Atlantic Fruit & Sug. 7 Atlas Plywood (2).. 3% Atlas Utilities Corp 1 Atlas Utilities(war) 8 Auto Vot g Ma cv pr p 10% Aviation Seeuritie 36% Axton Fish Tob A(3. 98 Babcock & Wil (7) 1% 3ahia Corp. . 215 Bellanca Alrcraft. 130 Bell Te! of Can (8). 14% Beneficial IL (1% 16 Bickford's, Inc (1.2 5 23% Bigelow-Sanford Carpet. 18% Eliss Co (EW) (n1) 31, Blue Ridge Corp. 30% Blue Ridge conv p. 4% Bourjois Inc 13% Brazil Trac & Lt (bl 5 54% Bridgeport Gas Lt(2.40) * Bridgeport Mach (25¢).. %, Brill Corp B. 84 British-Am Oil C (80c). . 25'% Buffalo, N&EP pf(1. 98'4 Buff Niag&EP 1st pf 35 Bunker Hill&Suli(2). *: Burco. Ine, war. 34% Burco, Inc cv pf 1% Burma Ltd rets $27 4'% Butler Bros.... 7% Cable Radio Tub v % Cabl& W Ltd. B rets. 63 Can Hydro El 66 pf. ... 1% Canadian Murconi %« Carnegie Metals, 13 Carib Syndicate 141 Carrier Corporation 681 Celanese Corp pf ( 47 Celanese 15t pf (7). 17% Cent Hud Gas&El (3 Cent Pwr & Lt pf (7) 9% Cent Pub Sve. Del 12% Cent Pub Sve A( 67 Cent Pub 8v pf (6) 94% Cent&Swn Util prin 8 Cent States El (b10 50 Cent Sts El cv pf n(a6). 54 Cent States El pf(6)xw. 515 Centrifugal Pipe (60c). 1 Chain Stor Development 7 Chain Stores Stock. 20% Charis Corp (13).. 18% Chat Ph Aln.v (1). 110 Chesebor Mg (1433) . 85 7 Childs Co. pf. .60) 'z Cities Serv. B.B.pf(§ Citles S Pra& Lt pf (1).. 714 City Mach & Tool (80e). 40% City Sav Bank (p4.19).. 4'; Claude Neon Lights,Inc. 4713 Clev Elee 1llum (1.60). . 4% Cleveland Tractor(80¢).. 6% Cohn&Rosenbergerl ne,. s Colombia Syndicate. . 1 ColonOfl..... 14% Colts Pat Firearms 1% 234 Columbia Ofl & Gas vie. 10% Colum Pict vte (£1%) 221 Com'with Edison (8). 1% Comwlith & Sou twar).. 8 Com Wat Ser (g12%¢ # Comstock Tunnel e Consol Auto Mer cf . ' Consol Auto Mer eum pf 2% Consolidated Copper 3% Comsol Dairy Products. . 82 Consol Gas Balto(3.60). 86 Cons &8 (t12%) . 97% Contl Gas & El pr pf(7). 20% Cont Shares conv pf. 21 Cont Shares pf (B). 7 Cooper Bexsemer, 20% Cooper Bess pf A(3)..0. 5 Cop Range. . 5% Cord Corp. ., 14% Corp Secur of C! 2% Corroon & Iteynolds. 9% Crn & Rnlds pfA 1 Cosden O11 2 Creols Petr @ % Cresson Consol (4c T4 Crocker Wheeler. ., 4'% Crown Cork Intl A ((1).. Y% Cuban Cane pr opt war.. 20% Cumberland P L (2) .00 85 Cuneo Press pf (6%). % Curtiss Wright war...e. % Cus! Mex MInIng..eseew 2 Darby Petroleum.... % Dayton Atrplane & Eng. 2 Deere & Ca (1.20), 1% 1e Forest Radlo. 12 Delsel W Gilbert (13). 2% Derbv Ol & Refin. , 1% Det 18 Dic 4% Doenler 13e Casting. ... 2% Douglas Aircraft (11%). Dow Chemical 12) Dres (S R) Mfg.A (334). 23% Dresser(SR)A cod(315). 184 Dresser Mfg (B) (2). 19 Driver Harris (new). 3 Dubilier C & Radio. 112 Duke Pow (5), 1% Duquesne Gas ¢ 1% Durant Motors. 92 EastG & FlAs p£(6).... 11% East Sts Pow B (1)..... 31% Eastern Utll Asso (2)., 5% Eastern Util Assoev.... 18% Educational Pictures pf 3% Elsler Electric Corp. ... 38 Elec Bond & Share (b§) . 1024 E) Bond & Sh of (6).. .. £9% Elec Bond&Sh eu pf “®) 8 Electrographic Corp. ... 12 Elec Pow Asso (1). .., 12 Elec Pow Aswo A (1)... 181 21 P & L opt war, 9 Kl Sharehold (b6% ) 72 El Shareh pf (a6% ) % Empire Corporation, 61 Empire Gas&F cm pf 1) 76 Empire GaskF em nt(s) 1% Empire Pub Sve (A),.,. Fmpire Power pt (2.24). Low. Close. 10 ~ W Englaesrs GOld, cossomes . % 10 ! [RENE TN L+t Y EYL) 9 ¥ SUNDAY STAR, WASHINGTON, Stock and dividend. Eureka Pipelinei4).... Euro Elee. Ltd deb rts. Evans Wall Lead. Fageol Motor..... Fairchild Aviation Fandango Corp. Fansteel Prod. Fedders Mfg Co (A) Federal Buking Shop. .. Federated Metals Flat rets (94 1¢) Financial livest N Y Fischman & Sons A. wihntkote Co (A). . Ford M Can A (1 Ford Mot, Can B (1 rd Mot Ltd ( High. 25 0.0 Franklin Mfg Co ¥ Gamewell Co pf (6). n Alloys...... General Aviation. Genera! Cable war. ... Gen Elec Ltd rets(pioe). Gen Empire Corp (1)... n Fireproof (2). .. n Gas&Fl cv pf B n Thea Eq cv pf (3) Globe Unde i Gold Seal Elec new. Golden State Milk. (ioldman Sachs T ¢ Gorham. Inc pf (3) Gotham KnithacMeh t At&Pac Tean Grt A&F Tea pf (7) G Invest. on Law (1). Gulf Ol of Pa (1% Hall Lamp (40¢)y. . Hamilton Gas rets. . Hammond Clock 4 Hand P p pf(p25c) Happiness Candy. Hazeltine Hecla M lec Secur (1.40). Hygrade Food Prod. 1l Pwr & Lt pt (6) Imp OIl of Can (501 Imp Ol of Can reg ( Imp Tob Gt Brit (17%¢). 181, E 92 4 Ind Terr 11lu O1] (A) Ind Terr 1ilu Ofl (B).... Indiana Pipe Line (1)... Ind Pwr & Lt cu pf(6%) 106% Industrial Finance ctfs. . Insull Inv (b6%). . . Ins Co of No Am (1214). Insurance Sec (70¢)..... intercont Pete new. Intl Hydro ev pf (3%3).. § Intl Petroleum (1) Intl Products. .. Int Superp (11.10). Int Utilities A (3% Internatl Utilities (B InterstateFquit Interstate Equ cv pf (3). Irving Air Chute (1) Itallan Superpowr A.... Ital Superpower war.... Kings Co Lt cum pri( Klein (H) pt pf.. Kleinert (1 B) Rubbe; Kolster-BreAm shs) Koppers G & C bf (6). 4 Lackawanna Sec (4) ke § Mines (1.2 nd Co of Florida. .. .. high Coal&Nav (1.20) . Leonard 01} Lerner Stores (2). .. Lerner Stores pf (6%).. LibLy MeNelll & L. Lily Tulio Cup 1% Lion Ol & Tefintn J.one Star Gas n (88c) Long Island Lt (60c). Long Isl Ltpf (7)., Long Isl cu pf B (6) Loulstana Lan & E: MacMarr Stores (1) 4 MagdalenaSyndiea Manning Bowman (A) Margay % Mass Util Asso Mavis Bottling (A)..... May Radio & Telev (1).. Mayflower Asso (2)..... Mead Johns=on (14). 4 Memph N G Co (60c). ... Mercantile Stores(1). % Mesabi Iron. .. 4 Mo-Kan Pip Mesta Machine ( Metal & Mining, Inc..... 1% Metal Tex ptpf(3%).... 36 Mich Gas & O1l Corp 3 Mid Sts Pet v.t.c. A. Mid Sts Pet v.te. B. Mid West Sts Utli (1%). Mid West Util (b8% ). MidWest Ut cy pr(6). Mid West Ut A war. 1w 16' 181y 9% 1% 12 Midland Stl Prod, n (2).. 15% Midiand United (b6%).. 1913 Minne-Honey pf (6). 85 Line (A) % Mo-Kan & Pipe Line ( [ Moh Hud P 1st pf(7) 106t Moh Hud P 2d pf(7).... 105% Mohawk Mining (1)..... ain Products (1). Municipal Serviice Nat Amer Co. . National Aviaifon. Nat Bd & S Corp (1) Nat € C A pf (165¢ Nat Container pf (2 Nat Elec Power A (1. Natl Food Products (A). 8 ws 1 19% “an Nat Fuel Ga Nat Investo: Nat Leather. Y 102% 16% 30 3% 20% 24 185 298, Nat Pub Sv B(f Nat Rubber Mach. 2 Nat Screen Service (2).. Nat § Nat § Nat Sugar N-J (2) Natl Transit (1) Nat Unfon Ra . Nauheim Pharmacie: Nauheim Pharm pf. Nehi Corp (60c). Nevada Cal El pf(7) Newberry(JJ) (1.10). 4 Newberry (JJ) pt New Bradford Oil (28c New Eng Pow pf (6) 827 New England T & T (8). 137% New Jersey Zinc(t3).... 36} New Mex & Ariz Land. . Newmont Min (4)... N'Y & Hond ¥ N ¥ Steam new N Y Telpf 16%), N Y Transit (1)...... Niag.-IL Power (40¢) Niag.-H Pwr A war. Niag Hud Pwr (B) w. Niag.-Hud Pwr C war. .. Niag Shares, Md (40e) iles-Bemen: . Noma Elec Corp (40c).. Nordon Corp Ltd. . Nor Am Aviation A wai Nor Central Texas. . North & Sou AmCor p A. Nor European Oil Corp. . Nor Ind Pub Sve pf(6) North Stat Pwr A( Nor States Pwr pf (6, !('l‘r;, 0). Northwest Eng (2)..... Northw Yeast Co 12) 120 Novadel Agene (4) Ohlo Brass (B) (5) 4 Ohto Copper..... “ PacG & E1stpf (1%) BY% 1% Ohlo Ofl n (cu)pf Ohio Power pf.(6). . Ohio Pub Serv pf A (7). Ollstocks, Ltd(A) (40c). Outboard Mot (A). Outboard Mot B. Overseas Sec. . 2% 5 2 2% 28% 264 20% 4 PacG&Epf1.37%. Pac Pub Sve A(1.30) Pac Tin Corp spec (2)... Pac Western Oil. . L Pan Al AlrWaySeaquaes 36 Low. 264 .8 244 Close. F3 3 ++LETEIE+E+ 00+ MAY 24, EEEEEE .- - 2%ihad lost whem price cutters became building. i % kK 1 3 6% —11 1 5 1% % % " 11+ +1110 1931—PART SIX. —1931— High. Low. _ Stock and dividend. 1. Pandem Ol 2% Paramount Cab Mte. Tarke Aus&Lipps pf( Parke Davis (11.4 Parker Rust Pr (3) Patterson Sargen Peninsular Tel(1.40) Pennroad Corp (20c) Penna Gas & Elec A, Penna Water & Pwr (3). Peop L& P A (2.40). Perryman Electric. Pet Milk pf (7)..... Phila Co new (11.30). Philip Morris tnc. *hoenix S, se dio T Pitney B Pos ne20e) ., Pittshgh & Lake E(110). Pitis Plate Glass (2) Plymouth Ofl (1) Polymet Mfz..... Powdrell & Alex (31 : Power Corp of Can Prudential Inv., Prudential Inv pf(6) Pub Sve Okl Public Util He Pub Util Hold Corp xw *ub Ut Hold eu pf(3) 3 Puget Sd P & Lt pf (5) Puget Snd P & Lt pf (6). Pure Ol pf (6).. Pyrene Mfg (80c). Reliance Int Corp(B). Rellance Management. ybarn Co. . Reynolds Invest. . Rhode Isl Pub Sve pf(2) Richfield Ofl of Cal pf. Roan Antelope Mines. Roch Gas&ELpf D (6 land Lt & P (90¢) Roosevelt Fleld. Inc. R Int] Corp. . toyalty Corp pf. Ruberold Co (4) Russek's Fifth Ave St Antony Gold. .. St Regls Paver (1) Salt Creek Oil (28¢). alt Creek I'rod (1.40) . Saxet Co. . Schiff.(The) Co Schulte Iteal Estat Schulte Un be 1031 S. Schulte be to $1 Strs pf. Seaboard Utilities (50¢c) Secur Corp Gen(40c) Seeman Brothers (3) Segal L & Hwde(50¢). % Seiberling Rubber. Selected Industries. . le Ind full pd ( Ind prior (5%).. Sentry Saftey Control. .. Shattuck Den Min. .. Shawingan W & P (215) Shenandoah Corp, Shen Corp pf (a3) Solar Refining. cene South Am Gold&Plat. .. 8o Cal Edis pf (B) (1%) Sou Calif Ed pf(C)(1%) 8o Colorado PwA (2). % Southern Corp. SouthernNat Gas Southland Royaity Southw Dairy Prod.. .. Sou West Dairy prd pf 4 So West Gas Util. . Southwest Pen P L Spanish & Spieg May Stand Dredging $60c Stand Invest cum pf. e 28y FINANC Net 1931 — Stocx IAL. and dividen: Stand Motors Stand Oil of Ind (= tand Ofl of Ky (1 Stand Ofl Nebr (2) Stand O] Ohlo2 14 Stand Oil of Ohio( StandPwr & Lt (2). Stand Pwr & Lt (B) (2). Stan Pow & Lt pf(7)... & Starrett Corp... . Stein Cusmetics Inc Stinnes utz M zM Sun Inv Sunra Swift & Technicolor inc . Tech Hughes (Goc) . hatcher Sec Corp. ... co Prod Exp (10c). Pub Sve of Nor 11 pf(6). 130 2 Toledo Trans Air Trans Trans I Triplex Tri-con Tubize Cantillon (B). ... Tung Sol Lamp (1). tingerleider Fin Corp (Hugo). otor Car. . otor (war) st pt (3). Ofl (h5% ) Co new (2). ) & QFIFF kd » & Lt w9 idien pf(7) R NN —a Lux DL P Safety Glas: tin 1 Corp wa ritrd ERELIEE QIR F¥R T | Union Am Invest. UnNat Gas of ¢ Union € Uniéu L U'td Car Unit Corp war Unit Dry Dock Unit Founders Utd Gas Corpn United United Utd Light & Pwr A( Utd L & Pwr (B) (1). Utd Light & Pwr pt (6). Unit M 4 Utd Mo United United Unit Shoe Mach (2 U S Dairy. A 15). CE® n Holding S Finishing U 8 Foil Co B (50¢) US&1 U S Inter See 15t pf. 4+ M1 Assc voneco r Fastener, .. Gas w Gas pf (7).. treret+ FLEL S Wl i1k Prod pf lasses, Ltd Profit Sharing Public Service. c Power w © Pwr (war)... Freyy 2 nterntl Sec N F U S Lines pf (1) U S & Overseas Unit Verde 2 iversal Ins (1%) tah A Util Pw Utility Utility Utility Utility alker Wayne Wilson Dividend rates nual payment. able in ca. 1Pl Ut P&T B(at1.02 Willlams B € (To¢ Wil-Low 4 Wis Pwr & LUpf (7). Vright Hargrav (10¢). . % “Y" Ol & Gas. *Ex-dividend, or - £ TES Bxt (2) pex.. g er&lt (a11.02%). ). ... Pow & Lt pt & ind..... Util & 1nd pf (1%). ... Fauitles. . Eaquity pf (5%).. Vacuum Ol (2) Venezuela Vie Finan Corp(40c)... Voght Mfg Co (1) Walgreen Co. Mining. Watson (JW) Co. Pump. ‘Welch Grape J Wenden Copper. Wi 1 s J B2 ¥ +1 in dollars d on la (3 b5’ SOME HELP 1S SEEN Withdrawal of From East Texas Hailed by Producers. Special Dispatch to The Star. crude oil in the East Texas field was hailed with satisfaction by oil men here as favorable to the proration program in_that troublesome area. It is hoped that producers mow will find it possible to hold output within the limits fixed by the Texas Rallroad Commission for the East Texas field. Market Demoralized. Indications of support are beginning to appear in the refined oil markets of the Mid-Continent area. Slight ad- vances have been made in the prices of various gasolines. It is reported that one of the largest distributors in the country has placed orders for two or three hundred cars of motor fuel. Despite the apparent attempt at sup- port, the markets still are in a demoral- % | ized condition, both as far as crude oil s | is concerned and gasoline at the service ' | stations, ¥ ‘The marketing of a third grade of gasoline has restored to several of the 4 | larger distributors gallonage which they - - sSaEy FEELS ah % |-numerous, ‘The introduction of the cheaper gasoline, however, had the ¥ |effect of forcing the general level of #+| gasoline prices to the price cutters’ level. Y11t has proved effective, if somewhat costly, to restore normal business to the nationally advertised products. In %) Oklahoma the third grade of gasoline #|is still available at 10 cents a gallon, ::« including a State tax of 5 cents. Y W Better Conditions Seen. ‘Thus far attempts to restore better prices are succeeding only when at- tempted in moderation. The spot market for tank car gasoline has ad- vanced one-quarter of a cent a gallon and appears to be holding this gain, ‘but the advance of 2 cents a gallon at the filling station by one interest at several points in the Southwest has not generally been met. Nevertheless, it is the opinion in well informed circles that the beginning of June may bring a better market. Consumption of gasoline is satisfac- tory, refiners and distributors say. Thus far a gain in excess of 2 per cent over the corresponding period of last year has been found. In view of the reduc- tion in operations as compared with this FOR O PRORATION Stanolind| OKLAHOMA CITY, May 23.—News that the Stanolind Oil & Gas Co, & subsidiary of the Standard Oil Co. of Indiana, had withdrawn as a buyer of time last year, and the lower level of inventories, together with more cohesion among competitive factions, the ele- ments ne to bring about better marketing conditions are not lacking. (Copyright, 1931.) ‘Woman, 94, Still at Work. Polly Gadsby of Leicester, England, who recently celebrated her ninety- fourth birthday, is still at work in an elastic web factory, where she has been employed for 85 years. She is belleved to the oldest feminine factory work- er in the world. Miss Gadsby seldom has been absent on account of illness CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS | By the Associated Press. NEW YORK, May 23.—The following is today’s summary of jwmportant cor- poration news prepared by Standard Statistics Co., Inc, New York, to the Associated Press. News Trend. The announcement that raliroad com- panies east of the Mississippi would pe- | tition the 1. C. C. to realse freight rates | has been considered an encouraging | move. Much time must elapse before |any improvement in railroad revenues {1 C. C. gave prompt approval. Never- | theless, with the savings from increased internal economy largely exhausted, un- less more drastic measures of economy such as wage cutting are resorted to many believe that higher freight rates are necessary to bring needed relief. It is reported that the I. C. C. itself leans to_this view. ‘Without some means whereby rail- road revenues can be improved within |the year there appears to be danger that some roads may not be able to main- tain their bonds on the so-called legal list. Failing to do so would necessitate sales by savings banks and insurance companies that would greatly disturb the market. The Industries. Buflding — Construction _ contracts awarded in 37 States east of the Rockies |in first half of May totaled $156,136,000, |of which 36 per cent was for public | works and utilities, 34 per cent non- | residential and 30 per cent residential | Lead—World lead production in April amounted to 131,926 short tons against April, 1930, according to American Bu- reau of Metal Statistics. Railroad—Steel rate cut to effect articles moving between Chicago and Milwaukee to meet Great Lakes com- petition may receive 1. C. C. approval. The Companles. Chrysler Corporation 25 cents com- mon dividend; made similar payment March 31. Continental Shraes—Cleveland group bu]ys 300,000 common shares at private sale. , Denver &-Rio Grande Western Rail- road—Reports of preparations to drop Denver & Salt Lake acquisition and Dotsero cut-off ccnstruction plans are unfounded. Dominguez Ofl Field, Ltd, dividend; paid 10 cents May 1. Fraser Cos., Ltd.—Reorganization re- ported under consideration; two mills operating near capacity. Glant Portland Cement passes pre- {;ngga;uvldend; paid $1.75 December In."grnldnnll ,z:’elephnnel & ‘Tele- graph acquires leral Telegraph Co. cf California. @ Railway & Utilitles Investing defers dividends on 7 per cent and 6 per cent preferred stocks: paid 871; cents and 75 cents, respectively, March 2. Selby Shoe common share earnings, year ended March 31, $1.86, against $1.90. Western Unlon Telegraph guarantees payment of djvidends of stock of Amer- ican Telegra) & Cable, subsidiary in process of liquidation, to June 1, 1932. Associated Oil March quarter com- mon share earnings 41 cents against 78 cents. Bethlel half op cent of Cl 5 cents o u?nukge. St. ul & | can result therefrom, even though the | | 145,498 in March and 153,799 tons in| ‘ 1 Steer éhajgman states first ow 50 per|H e rates to meet waterway competition. City Ice & Fuel April car icing ness, which constitutes :5 per e-n:;l operations, up 10 per cent over year ago. Piat 1930 share earnings ings 86 cents against $1.01. | Otis Steel expects to complete new | continuous strip mill development with- |out further financing. Perfect Circle common share earn- ings, 4 months to April 30, $1.30. St. Louls Southwestern Railway in- dictment of company for subsidia | alleged illegal rebates to be- | lleved to be in nature of test case. Southern Pacific Co. April gross of system off 21.8 per cent, net iting income off 64.9 per cent; 4 months gross Dg 22.7 per cen:, net operating income | off 68.8 per cen Standard Oil (Indiana) subsidiary, | Stanolind Oil & Gas has completed con- tract and withdrawn as outside crude purchaser in East Texas area where it had been taking 30,000 barrels daily. | United American Utilities 1930 com- | mon share earnings, 71 cents. United States Steel-Mercer Works of American Sheet & Tin Plate subsidiary | at highest level in past 3 months with 9 or 12 mills on 5-day week; 20 or 30 hot mills at Parrel works in operation. ‘Warner Bros. Pictures deficit, quarter ended February 28, $1,500,066 vs. net income $4,463.000 equal to $1.62 com- mon share; six months common share earnings, 23 cents vs, $3.68. New York, Ontario & Western Rail- way April net operating income, $72,548 | vs. deflcit, $27,620; 4 months net i nlp;l'olun[ income $352,861 vs. deficit, $12,086. | " Donahoe’s, Inc., Mash quarter class A share earnings 72 cents vs. 13 cents. Missouri Pacific Raliroad — Rallway and bus services co-ordinated to stop | decline in passenger traffic. Standard _Commercial Tobacco — President Kehays and associates f new company, German-American To- bacco Co., to manufacture American- type cigarettes in Germany. \ Coca-Cola International declares 50 cents extra with $3.50 regular quarterly common dividend. American Bond & Mortgage—Invol- untary petition in bankruptcy filed agc'nst company, alleging insolvency and Jransfer of assets, court pastponss action for one Colorado Fuel & Iron resumes opers~ tions at Pueblo rail mill. American Tobacco—Gain in sales & Lucky Strike cigarettes reported to be maintained. Paramount-Publix drops producthy of advertising shorts, Spicer Manufacturing March ouarter deficit $310,353 vs. net incows biflie Federal taxes $203793, cqual to 36 cents common share in 1930. Warner Bros. Pictures discontinues production of advertising shorts; pre- pared to pay off bank loans, Quarter B«;t-{lel in London. Along with other surrenders to econ- omy in London has comes the quarter- bottle of wine. Hotels and restaurants in the fashionable West End are intro- ducing the novelty. A quarter bottle of sherry provides two generous glasses, which many diners say is sufficient for & person when eating alone at luncheon. Boy’s Honesty Rewarded. Pacific “showing smaller propd ate i May business, eou’;:u ith tian royal house, as a tribute to