Evening Star Newspaper, May 25, 1931, Page 14

"A-14 FINANCIAL. FEDERATION WARKS AGANST WAGE UT Organized Labor Calls Upon Workers to Resist Any Such Step. b THE EVENING STAR, WASHINGTON, D. C, MAY FINANCIAL. NEW YORK STOCK EXCHANGE - | BINDSOROPLOWER : ' THROUGHOUT LIST! Wall Street Extremely Cau- s 44-54.... 41 10913 108 29 108 29 tious With Trading in Se- curifies Du" US4¥s47-52. 827 11329 11315 11315 MONDAY, 25, [ox e sone BONDS o exover] (|TILITIES COMPANY SHOWS BIG GROWTH UNITED STATES. I Central Public Service Cors (Sales are In $1,000.) Sales. Himl! Low. Close. Lib3%s 3224'1. . 19 10220 102 i6 102 20 poration Makes Its Annual Report Public Today. 1931.° Sales. High. Low. Close. 15 82y 82 2% 91 91 a1 104 104% 104% 1 95% 954 95% 94 68 68 56 91 4% 75 854% 53 111 CCStL&N 4%, 1 CCStL&! A { ;u St ~Prev. 1931~ . Btock ana Bales— High. Low. Dividend Rate. Add 00, High. 17 Starrett (LS) (12%). 1 17% 10%; Stewart Warne e Stone & Webster ( Studeba 20, Sun Ol pf (6). Superheater (2 % _Snperior Ofl. Telautograph (1.40) . Tennessee Corp(50¢) Texas Corp (2) 5 Texas G Sulphur (3). (Continued From Page 13.) ‘Stock and s Dividend Rate, Add 00. High. NY Investors....... 1 5% ~Prev. 153%4 High. Low, 12% 6 94 119% 7. 21 10313 103 10 103 10 66 103 28 10231 10231 . 16 103 610226 103 5103 103 103 s 46-56. 27 107 2 106 30 106 30 Int Rap Tr 6s ‘32, It Rap Tr 78°32. Int Cement 65 *48. Int & Gr Nor 5366, les. High. Low. Close. }‘“28“,,"“,".'",‘," g | In 62, 4 50% 49 B0 m: Hydro.ll 7 BY JOHN F. SINCLAIR. NEW YORK, M!{( 25 (N4A£NQ.A,).— “Stop cutting wages if you want to save 'he":mnomi'c sls:ntlon." This is the challenge of the American Federation of Labor, whose executive council calls upon the workers of the country, un- organized as well as organized, to “re- sist to the fullest extent” any general wage-reduction policy. The council as- serts_that the banking interests of the Nation are stealthily. and persistently forcing employers in this direction. The federation holds that the return of prosperity is dependent on an in- crease of purchasing power sufficient to absorb the surplus production of goods. ‘There has not yet been a convincing argument against this idea. It may be true that a permanent re- adjustment is in the making and that American wages will have to be broufln into a proper ratio with the purchasi g power of the consumers. But it shoul be a fair balance. Obviously, any ar- rangement where the worker finds his actual purchasing power reduced will be a retreat from the American standard of living. Wages may be cut, if and when necessary, but purchasing power should not. 3 A little closer relationship between wholesale and retail commodity price indexes would be a sound approach, and in the field of capital waste there is yet much to be done. Wage cuts should be the last resort. Despite the fact that Cuba is deep in the throes of economic and political unrest, che remains the third best cus- tomer for textiles from the United States. During the past year Cuba has absorbed over $14,000,000 worth of tex- tile commodities. Only Canada, with $39,000,000 purchases, and the United Kingdom, with $28,000,000, are ahead of her. 1t is regrettable that so few Ameri- cans realize what a great market Cuba is for their products. Only 44,000 miles square and with a population of 3,- 700,000, Cuba stands eighth on the list &t this country’s 70 foreign buyprs of Koods. Cuba’s present difficuities are largely due to rer almost complete depend- ence of one crop—sugar. The present government of the island has tried to stimulate diversification, but this has been complicated by growing lack of confidence in the Machado regime. If it is at all possible for the United States to extend favor and assistance to Cuba, it should be forthcoming as a matter of sound business. roduction has hit the nitrogen ingr:tg hard. The output of natural and manufactured nitrogen will reach 3,600,000 tons :‘n th: t:l“:);fienmt HXD::‘ 1d consumption at the e d at lbdr(;; 2&0,000. or 1,- than production. lture that has AT e international y find thzh" in the manufacture of s t.m“\sltlt.h the present depres- ture, even the normal nitrates d are only one of many chem- :‘e’:ldepr.(&uch turned out by the chem- o pl"“l; mo:“?hn: :ht;:; hand, the In Chile, o ) fr;u(ht W:thtflhli; e industry in o ized to com- foreign artificial producers, t! e8! rove fatal, since it is surplus may P! L primarily a one-product de;. the pete on & lower price dunfi: and a blow at American trade in that country. Although there was practically no ncrease in the number of motor ve- American rozls last year, ‘consumption of gasoline climbed 3.5 per cent, and the revenue from !ai.gs yielded 14.6 per cent more than the vious season. pr‘:‘hg:uwtsl revenue for the 48 Btw'!; and the District of Columbia umem_ almost $494,000,000 for 1930. Bome’ o teresting facts can be (nberedmlx;tzn these sutsduc:. n’x‘;h\:: the taxes, 5 an cel almost cxclusivily _confined to v:h! Southern States, 'The lowest :'eh !?h from 2 to 3 cents, are found In Noi vy territory. The 4-cent tax, which m! .\n be called a middle figurs, 2ppears States scattered all over the country, but more in the West than in the East. 1t would seem that States with h{l[: sgricultural arcas impose the higl : taxes, while the Nortl and East rely on their varied and exun“’i:e manufac- e for revenue. zufi;m;;n: are apportioned among States as follows: 2 cents in n\'en.m cents in 11, 33 cents in one, 4 cents 17, 5 cents in 10 and 6 cents in three. The averag: tax for the country is about nts per 323{50% lhep;ll'.inn's motorists comes to $32.02. This covers the sum of $18.62, the average annual gasolme tax, and $13.41, the averags annual registration fee. 1f the airplane industry expands in the aecade to come a5 the raflroad and auto industries have in the past, transpar- tation will pay & very heavy portion of the country’s total taxes. tary industrial planning is be- Sn‘éfl!‘.fl:d Gy th Tanners' Council of America. All available data on produc- tion, consumption, prices and costs for the previous seasons are being collected. analyzed, sdjusted to regional ne-ds and finished schecules sent to member manufacturers, who are free to use or reject th: material The majority of tanners, however, are turning toward these reports for actual production guidance and policy. Per- haps the reason for this is the unique stability of the industry, which makes predictions unusually accurate Eighty-five per cent of the cattle hide. in the United States evolves into shoes, the backbone of the tanning business. This is & fairly constant percentag, as is the consumption of shoes. Other products in which leather is used, such as luggage, upholstery, harness and belt- ing, do not fuctuate wid-ly either. Finally, the character of the industry itself, where the tanning process extends over months, riakes it possible to work out long-range planning. In any event, the project will certainly bs watched closely by other industries where simi- Jar ideas might be employed. (Copyright. 1931, by North American News- paper Alliance, Inc.) CHICAGO DAIRY MARKET. CHICAGO, May 25 (&) —Butter- Receipts, 19,556 tubs: market steady; Ccreamery extras (92 score), 223 standards (90 score car lots), 22}5; extra firsts (90-91 score), 2113a213%; firsts (£8-89 score), 20a20);; seconds (86-87 score). 18al9. ‘Eggs— Receipts, 20,710 cases; market steady; extra firsts, 18% . fresh graded firsts, 173,; current receipts, 15l5a 16'; storage packed firsts, 19, storage packed extras, 19'fi.e Poultry, alive—Receipts, 4 cars, 10 ks; market firm; ’owhi.’!w‘l-ZL g 194 5 6% 68% 16% 9% 39% b4% 69% 26% 181% 131% 11% 15% 8 13% 27 8 20% 26% 6 % 96% 102% Norwalk Tire & Rub. 1% Ohio O11 3 2% Oliver Farm Equip 3% Omnibus Corp. Otis Elevator 614 Otis Steel. 35% Ots Steel pi 28% Owens 111 Glass (2). Pacific Gus & K1 (2).. 23 Pacific Lighting (3). 3 » Pacific Mill's........ 10s Pacific Tel & Tel (7) 100s Pacific T & T pf (6).. 308 Packard Motor (40c) 53 Pan-Am Petrol B. 1 Panhandle P & R pf. Paramount-Pub 2%. 4 Park Utan. Fathe Exchar; Pathe Exchange A. ino Mines. ....... Peerless Motor Car.. Penick & Ford (1)... Penney (J C) (2.40) Penney (JC) pf A (6) Penn Dixie Cement. . Penn Dixie Cmt pf... Penn RR (4).. Peop Drug Strs (1). Peop Gas Ch (8).... ‘strolm Cp of Am(1) % Phelps Dodge (2)... Phila Co pf new (6 Phila Co 6% pf (3).. Phil Read C& 1. . - Philip Mor & Co (1).. Phiilips Pctroleum. . Plerce-Arrow A (1) 4 Pierce Petroleum. Pillsbury Flour (2)., Pitts Screw (1.40) Pitts Term C pf.. Poor & Co (B)...... Port R Am Tob A 3% 708 114 71 2 59 30 - o 3 [T LT IPT*H JSPP - SO S EIN-P JNOT - - PubSvE& G pf (6). Pullman Corp (4 PureOil...... Purity %, 2 Radio Corp B (6).... 26 4 Radio-Kelth-Orph A. 102 RR Sec 1C stk C (4).120s Raybestos Man 2.60. 1 Real Silk Hos(b10%) 2 Remington-Rand.... 6 Rem-Rand 2d pf (8). 30s Reo Motor Car (40¢c). 9 Republic Steel...... 11 Republic Steel pf.... 2 Reynolds Metals (2). 7 Reynolds Tob A (3). 30s Reynolds Tob B (3). 65 Richfield Oil.... Rio Grande Oil. Roy Dtch(m1.3404).. Rutland pf. . . 38% Safeway Stores (5).. 15% St Joseph Lead (1).. 15 St Louis & San Fran. St L-San Fran pf (§) Seneca Copper Shattuck F G (t1%). Shell Union Ofl....... Shell Un O1l pf (6%) Shubert Theaters. .., Barame % South Port Rico 8 South Cal Ed (2).... South Pacifie (6). South Ry (3)... Spalding 1st uf (7). Sparks Withing (1) 4 Bpicer MIg........0 Spicer M{g pf (3)... Stand Brands (1.20). Stand Comel Tob. SandG&E (3%) Stand G & El pf (7) Stand 011 Cal (h2% Stand Oil of Kansas Taah Texas PC & Ofl. 4 Texas Land Tr.. Thatcher Mfg (1.60). Thermold Co Third Avenu, As (80c) Timken Det Ax (30c) Timken Roller (3) Transamerica (1)... Trico Products(2%). Tri-Cont COrp......u Tri-Cont Corp pf (6). Truscon Stl (1.20). Ulen & Co (1.6V).... Und-Ell-Fisher (5).. Union Bag & Paper.. Unfon Carb & C Un O1l of Cal (2) Un Pacific (10).. Un TankCar (1.60).. Unit Atrcraft....... 245 Unit Aircraft pt (3) Utd Am Bosch. Unit Carbon. Unit Corp (76¢) . Unit Corp pf (3) Unit Dyewood. Unit Fruit (4). Unit G & Im (1.20).. Unit Plece D W (2).. US & For Secur..... U S Freight. .. . U S Gypsum (1.60). . U S Indus Alcohol (2) U S Leather. U S Leather A. U S Leath pr pt (7).. USPipe & F (2) U S Realty & Im U S Rubber..... U S Rubber 1st pf... USSm&Refpf3%. U S Steel (7).. U S Steel pf (). U S Tobacco (4.40) 2 U § Tobacco pf (7).. 10s Unit Stores pf (4) Univ Leat Tob (3) 1 Univ Pipe & Rad 1915 Utll P&L A (et2.15). % vadasco Sales Corp.. 76% 34% Vanadium Corp'n. 71% 61 Va Car Chem pf (7). 71% 41% Vulcan Det (4) Wabash RR (A)..... Waldorf 8ys (13%)..; Walgreen pf (6%) Walworth Co. . Ward Baking B..... Ward Baking pf (7). Warner Bros Pict. .. Warner Bros pf 3.85. Warren Bros (3).... War Broscv pf (3).. Warren Fdy & P (2). Webster Eisenlohr. . Wess Oil & Snow (2) West Pa EL A (7) West Pa El pf (§ West Pa Pow pf (6). 4 West Pa Pow pf (7). 3 Western Pacific. Western Pacific pf. Western Union (3).. Westing EI&MIg (4) Westing E&M pf (4). Weston El Instr (1). Wextark Radio Strs Wheel & L Erie pf. White Motors (1).. White Rock MS t434 White Sew Mach pf Wilcox Oil & Gas Willys-Overland. ... 4 Willys-Over pf (7).. Wilson & Co. . Wilson & Co A Wilson & Co pf. Woolworth (2.40) Worthington Pump. Wrizlev (Wm) (4 181 Youngs Spring (3).. 13% 11% Zonite Prod Corp (1) Sales of Stocks on New York Exchange. 10:20 AM. Dividend rates as given in the above table are the annual cash payments based on the Jatest quarterly or half-vearly declaratio *Unit of trading less than 100 in stock. §Pajable in scrip. fPlus ‘Gallon. The total direct | Stand O1I N J (12). Stand Ofl N Y (1.60). this year—no regular 3 Plus 50c in special preferred stock no regular rate. b Payable in stock. toc! fPlus 8% in stosk. & Plus 6% in hPlus 2% in stoc k Plus 3% in stock. m Paid n Plus 5% in stock. rate. CORPORATION REPORTS l | TRENDS AND PROSPECTS OF | LEADING ORGANIZATIONS By the Associated Press. NEW YORK, May 25.—The following is a summary of important corporation | news preparcd by the Standard Statis- | tics Co., Inc, New York, for the Asso- clated press: Weekly News Review. ‘With little encouragement in the way | of industrial news during the week and | under continued selling pressure, stock | market prices extegded their downward | movement through the greater part of last week. The standard price index | of 90 stocks recorded a new low mark for 1931 on May 20 at 109.2, and like- wise each of the three divisicns making up this index fell to new lows during the week. 1In the latter part of th week, on Thursday and Friday, th market staged a rally of small propor- tions, s0 clearly of a purely technical nature that it cannot furnish much en- couragement. | ‘The net loss for the week was more important because of the fact that new lows were reached than because of its volume. Standard 90 stock index fell 4.7 points to 110.7 on Friday, May 22, from 114.7 Friday, May 15. The three component divisions, rails, industrials and utilities, all participated in the de- line, rails declining 1.9 points to 75.9 | on May 22, industrials declining 3.9 | points to 106.2 and utilities declining 6.6 points to 158.3. Weakness during | the week was particularly marked in the issues considered leaders in the market, particularly United Statcs Steel, American Can, American Tele- phone & Telegraph, Columbia Gas and Union Carbide. StHll reflecting recent cuts in bank rates by the New York Federal Reserve Bank and other Federal reserve banks strength in the bond market was evi- dénced by United States Government obligations, particularly by the Liberty Fourth 4%s and Treasury 4'¢. Prim municipals and very high-grade issues maintained strength. But th> medium and low-grade bonds were notably weak in reflection of stock market declines and industrial uncertainty. In the grain ket~ prices moved downward. Cotton also fell, reaching on Saturday the lowest point in several years, The stated intention of the leaders of Eastern railroads to request a hori- zontal upward revision of freight rates to levels which, in the opinion of the I. C. C., will protect the credit of the roads was considered in market and financial circles as a hopeful move. Steel operations, after showing a tendency to ccase the prolonged de- cline of the past two months, once more RUBBER MARKET. NEW YORK, May 25 continued their previous rate of decline in the week ended May 18 with & 2| entire 1930 month. Current year out- | per cent drap from the week before. put to May 186, 20,862 cars, an increase | For the country as a whole, the rate for this week was estimated at slightly (Special) .— | over 44 per cent of capacity. Building | months’ net operating income expected Crude rubber, smoked ribbed sheets, | contracts were low; automobile orders | to show gain of $175,000 over year ago, | large declines. | tively high rate, has declined some-[ what. News of a favorable nature was re- ceived in the past week from the oil industry, which for the second suc- | | cessive “week reported a drop in daily average crude production, this time by 29,747, to a total of 2,431,292 barrels. | A chain store license tax in Indiana, | imposing a graduated tax on chains up | to a levy of $25 on each unit in a chain of over 20 stores, was upheld by the | United States Supreme Court. Follow- | |ing this decision similar taxes, but with | higher maximum rates, were introduced into the Legislatures of Ohio and North | Carolina and into Congress for the Dis- | trict of Columbia. | Despite generally depressed condi- | tions, small cigarette production during the month of April continued, with less | than 1 per cent decline of the volume of April 1, 1930. Large cigarette and cigar production output, however, showed | | Two Companies. Buffalo & Susquehanna Railroad April net operating income off 2 per cent; four months, off 6.4 per cent. Bush Terminal gross and net re- ported has been steadily on uptrend. | Freeport Texas Co. president states dividend needs fully covered in first four months; current rate of earnings in excess of $3 annual requirements. Gardner Motor Co. declares dividend of 25 cents in cash and 10 per cent in | Detroit Afrcraft stock for each 10 shares held, subject to approval of | stockholders. Republic Steel operating at 45 per cent of capacity, against 44 per cent last week. St. Louis-San Franéisco Rallway April surplus, after oharges, $4,842, against $427,925: four months’ deficit, $583,964. against surpius $1,734,965. Borg-Warner—April dividend needs re- ported earned more than twice in that | month; net working capital April 30 was $13,161,795; May shipments at level | of preceding month. | General Motors June scheduled out- | put of household Frigidaires increased | by 33 per cent because of expanding | retail sales; May sales in household di- vision 77 per cent above April. Pennroad Corporation—Reported pur- | chase of more Boston & Maine common | stock discredited in well informed | circles Canadian General Electric Co., Ltd, | declares regular preferred and common dividends. Curtiss-Wright subsidiaries get War | Department contracts aggregating $1.- | Warner Bros. Pictures—Cut of 20 per | cent in salaries reported planned. | | Youngstown Sheet & Tube—Plan for | merger with Bethlehem Steel believed | in preparation on new basis. General Rayon Co. Ltd.—1930 $7 preferred share earnings $6.86, against American Maize Products reported planning $10,000,000 plant in Los An- geles. Auburn Automobile first 16 days’ May | production 3,139 cars, against 1,885 for | of 11,012 over first five 1930 months. Great Northern Rallway first four mated interest on adjustment bonds, | $266.572, against deficit $675,730. __Nedick’s, Inc.—Trustee for bondhold- €rs begins suit to foreclose collateral lb% satisfy $594,000 due on company’s nds. New Orleans, Texas & Mexico Rail- way March quarter deficit $56,496, against deficit $66,774. Richfield Oil of California—Court permits continuance of operations by New York subsidiary, unhindered by receivership. Selby Shoe buys Crittendon Bootery chain. | Standard Brands—Block of 50,000 shares of series A 7 per cent preferred stock called at $120 a share. | Studebaker Corporation sales to date ahead 1930 period. United Shoe Machinery share earnings, year ended February | 28, $3.32, against $3.88. Wheeling & Lake Erie Railway April net operating income off 57.9 per cent; four months off 65.4 per cent. Addressograph-Muitigraph Co. de- clares 35 cents quarterly common divi- dend, although not earned. = CHICAGO LIVE STOCK MARKET CHICAGO, May 25 (#)—Hogs—Re- ceipts, 40,000 head including 15,000 head direct; early sales steady with Friday's average; bulk, 150-220 pounds, 6.50a6.75, top, 6.8 230-300 pounds, 6.1086.55; pigs, 6.2506.65; packing sows, 5.00.5.25; lightweights to 5.50; lght light, good and choice, 140-160 pounds, 6.5026.75; lightweight, 160-200 pounds, 6.55a6:80; medium weight, 200-250 pounds, 6.25a6.80; heavy weight, 250- 350 pounds, 5.75a6.40; packing sows, medium and good, 275-500 pounds, 5.0025.50; slaughter pigs good and | choice 100-130 pounds, 6.25a6.65. Cattle—Receipts, 18,000 head; calves, 2,000 head; market on killing classes not established entirely too many cat-| tle here; few early sales common and medium grade light steers and year- lings, weak to 25 lower: most fed steers | without bids; the few bids made being' sharply lower than late last week; she | stock sharing decline; bulls and veal- ers steady to weak. Slaughter cattle and vealers—Steers, good and choice, 600-900 pounds, 7.00a8.25; pounds, 7.00a8.25; 6.7528.25; 1,3001,500 pounds, 6.50a | 8.25; common and medium, 600-1,300 pounds, 5.00a7.00, Helfers, good and chol: pounds, 6.50a7.50; dium, 5.00a6.50; 4.5085.50; commo; 4.50; low cutter and cutter, 2.50a3.75; bulls (yearlings excluded), good and choice (beef), 4.0025.00; cutter to me- dium, 3.25a4.25; vealers (milk fed), good and choice, 7.25a9.00; medium, 6.50a7.25; cull and common, 5.00a6.50; stocker and feeder cattle, steers, good and choice, 500-1,050 pounds, 6.75a 7.50; common and medium, 5.00a6.75. Sheep, 10,000 head; slow, steady to weak; spots lower; old crop lambs very | scarce; few good 'clippers, 8.00; native | Springers, 9.00210.25; bucks out at 8.00a 19.25; California’s unsold; ghter heep and lambs, Spring lambs, good | 550-850 common and me- 'ws, good and choice, common G2 Amer. & | Gontinental T¢ and medium, 3.75a | S and choice, 9.00a10.50; medium, 8.00a 9.00; common, 6.00a8.00; lambs, 90 pounds down, good and choice, 7.75a |8.50; medium, 6.50a7.75; 9 hanged at today's noon quota-'are falling off, despite continued high | despite 162 per cent drop in gross. fi ‘t‘rtmls:l.unu. ‘This compares with levels of present production, and tin- utv 6 a month ago and 14 & year ago, plate production, hitherto at a rela- nternational Great Northern Rail- road March quarter deficit, after esti- medium to choice, 6.25a8.50; all weights, | common, 5.00a6.50; ewes, 90-150 pounds, medium to choice, 1.75a3.00; all weights, cull and common, 1.00a2.00, pounds. | BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, May 25—Bonds drop- ped lower throughout the list in dull trading in the market today. Wall street was more than eor- dinarily cautious because of the re- peated setbacks that have been en- countered by those who in recent months have become convinced that Jjunior bonds were due for a rise. Over the week end a few more railroad earnings reports were published, which accorded with the market's views of last week that there had been a check in the decline of earnings. There were hints of a trade revival contained in predictions_ by industrialists, notably James A. Farrell, president of United States Steel Corpcration, but develop- ments at Geneva were not such as to lead to any renewed hope in the for- eign situation. And fresh pessimism was engendered by the announcement that the Newfoundland government was in difficulties. In connection with the Newfoundland report that the government had re- ceived no bids for its offering of $8,000,000 of bonds, it was stated by that government's bankers in New York today that it was not surprising in the present market, and ,(hat in any event the bonds had not been long on offer. Newfoundland 5s of 1955 were off at 100, with no bids in the | market today, but this is not unusual, as the bonds, which are outstanding in small amounts and are closely held, often are not quoted on either side cf the market. Wall Street does not consider the report that a European power may buy Labrador as serious. In the South American group Chilean bonds continued their decline with fur- ther losses of 1 to 2 points. Brazilians, Argentine issues, Uruguayan and Co- lombian bonds also were weak. Peru's obligations were offered at new low levels on the announcement that June 1 interest on the national loan would not be pald. German bonds were off fractionally, except in the case of the Young plan 51%s, which gained a point. Italian bonds and those of the highly rated European countries were firm. At today's levels, foreign dollar bonds— taking the entire group outstanding én this country—showed a 3 per cent de- cline since Monday. On the total of $6,402,641,000 outstanding—exclud- ing Canadian issues—this means a de- preciation of $190,080,000 in the week. An average of prices of the foreign list thows a price of approximately 70. This would indicate a total value of about $4,500,000,000 at market prices for the $6,402,641,000 par value of nds. In the domestic list high grade issues, such as United States Governments, ‘American Telephone 5s, Atchison gen- eral 4s, Norfolk & Western 4s, Great Northern 7s and Western Union 5s, were unchanged to a shade better. The municipal market was also reported strong, with indications that there would be few new offerings this week and a consequent tightening of the scarcity demand for outstanding bonds. Junior railroad issues were lower, but not importantly so. St. Paul 5s, Erie 58, Frisco A 4s and 4!5s and Southern Railway general 6s were off & point or more. One of the features of the day was a bid of 99'; for Big Four 6s of 1941. There are only $1,100,000 of these outstanding and the last recorded sale was at 105 on April 10. (Copyright, 1931.) Washington Stock Exchange SALES. | capital Traction Co.—19 at 36, 10 at 36, 10 at 36, 5 at 36. AFTER CALL. Washington Rwy. & Elzc. 45—$1,000 at 90'5, $1,000 at 90';. Mergenthaler Linotype—10 at 79, 10 at 8%, 20 at 78!%. Federal-American Co. pfd—8 at 93. Capital Traction Co.—10 at 36, 10 at 36, 10 at 36, 10 at 36, 10 at 36, 10 at 36. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer_Tel. & Tel. 4138 Am. Tel. & Tel. ctl. tr. 5 Pot. R. R. 58 guaT. B8........ Asked. Anacostia & Ana. & Pot Tel. of Vi, 887 C &P Peeet Capital Traction R, 8313 Wash. Wash. Gas z Wash, Rwy. & Elec. 4s..... MISCELLANEOUS. Rots. Inc.. 8'25... Chevy Chase Ciub 81 Columbfa Country Club 5as Paper Mig. 6s. .... Cold Storase 53 Cons. Title 6s.. STOCKS. PUBLIC UTILITY. Amer. Tel. & Tel action Co. s Lt. Co. ‘Steamboat (12). Power 6% pid Power 51a% pid Barber & ash. G N &'W. Pot. Elec Pot. Elec a: wy. Wash! Rwy. NATIONAL BANK. Capital (14) eenee (12} UBkE T @] Lincoln (12)" Metropolitan (14) Riges (158) it ond _(9¢) o Washington (13)...0.. 0000 TRUST COMPANY. Tr. Co. (15).. ust (8). Natl. Sav. T, (133) Prince Georges Bk & Tr Unlon Trust (8s) Wash. Loan & Trust (14).. SAVING BANK. Bank of Bethesda (81)...... Commerce & Bavings (10) East Washington (12)...... L 2 ‘& Gom. ‘Bi." (i1} 81 Sec. FIRE INSURANCE. American (12)... Shrcoran (10)" Piremen's (&) RNational Union ({8} : TITLE INSURANCE. Columbia_ (6 Real Estate ) 6 - MISCELLANEOUS. Barber & Ross, Inc.., com Col. Medical Bidg. Corp. (8 Col. Band & Gravel pfd. tl, Sec. pfd. (1) 900-1,100 | E: 1,100-1,300 pounds, | ¥t onoty & Stge. com. (10) Mer. Tr. & Btge. pfd. (7) Mergenthaler Linotype (8). Naul, Mtge. & Inv. pid, (8) P Did. fd. (8 Ter. Ret. . Corp. (3} he Carpel Corp (1.50¢).... Mech. Mt m. (8) Wash. Med. Bldg. Corp. (1) Woodward & Lothrop com z Woodward & Lothrop pfd. (7). *Ex dividend. b Books closed. les Drug Stores M. & G. Dried Fruit Demand Good. NEW YORK, May 25 (#).—New York Jjobbers reported a fair volume of busi- ness in dried fruits last week. Orders were well rounded out and the shortage of stocks in the hands of some sellers more cle2rly emphasized. While selling representatives of the large packing companies are holding a fair amount of fruits in New York, cther sellers re- ported that they are not long en 8ny single item. . 5 at 36, 10 at 36, 15 at 36, 10 at 36, | Alleg Corp 68°50... 19 Am Ag Ch 1%s Am Chain 6s ‘33 Am F P 55 2030 Am 1 G Ch 6%8°49, Am Metal 6%8'34.. 10 Am Sug Ref 6: . 46 Am T&T cv 4%8°39 19 Am T&T 68°65..... 47 Am T&T ¢ tr 63 '46. 10 Am T&T bs Am T&T 6%s Am W Wks 5834 AmWat Wk 63 '75., Argentine 5s ‘45, Argentine 513s 62, . Argentine May '61.. 1 Argentine 6s Ju ‘69, 16 Argentine 63 A ‘57, Argentine 6s B Arm & Co 4%s'3 Arm Del 5% 343 Assoc Oil 63 '35 Atchison gen 43 Australia 6s ‘65 Austraiia Austria 7843 . Austria 7567 ctfs. B&O 4343 B&O4%s'33 B & Oconv 4%s 60, 3 o o o o B& B& B& B& B& B& 41, O Sw dy 68 '50.. B & O Toledo 50. Bk of Chile 6 % Bk of Chil Belgium 6; Belgium Belgium 7; Belgium 7 Bell Tel I’a bs Berlin Cy El 6s'5 Beth Steel pm 58’3 Boli 78" Bollvia 8s Brazil 8s 41 Eremen 7s Bk Ed gn A b: Bklyn Elev Bklyn Man Budapes Buenos A 6561 Pv. Buft Gen El 413881 36 Canada 4s'60. .. Canada 4%s '36 Canada 58 ‘52 Can Pacdebds..... Can Pac 4%3s"46. .. Can Pac 4% Can Pac 5s ctfs "44. Can Pac 53 '54. Cent Pac 4549, Cent Pac 53 '60. Cert-td deb 53 Ches Corp bs C B&Q llldv Chi Grt West Chi M & St P 4s'89. Chi M StP&P 6s°75. 11 | Chi M & St P adj bx. 74 Chi & NW gn 4s°'87. 2 | Chi&Nwn 41482037 1 Chi& NW con 4%s. 59 Chi&NW rf 53 2037 Chi & NW 6% Chi R1 & P rt ChiRlcv4k%s Chi RI&Pac 4%48'52 C& W (nd cv 4552, 12 C& W Ind 5%s'62.. 4 Chile 78°4 Chile Cop ab &s . Cinn G&EL 45 A '65. SCC&St L 4% E CCC & St L 55 D '63 Clev Term 5%s Cologne 65 '50. “olomb 6s Jan 61.. ‘olon O1l 63 '38 Colo & Sou 4%s C C Md 1st rf 5560 ConG N Y 6%s'45. 21 Con Pow Japan 7s.. 7 Copenhag 4 %8 '63.. 10 Copenhag 58 52.... 7 Cuba 5%5 45 - | Cuba R R 5352 *| Cuba RRrf 1%3°36 2 | Cuba Nor 5%3"42.. Czecho 83 '51. Czecho ¥8 Del & Hud rf 4s°43. Del & Hud cv 55 '35, Del & Hud 6%s ‘37, Denmark 4%s 62 Denmark 5% ‘66 Denmark 65 42 D& R Grgn 4 D&RGWE DRG& W st5s Det Unit 4% Deut Dodge Br el Duquesne 4% "67.. Duteh East L : Dutch ast L 6547, Finland 6% Finland 6s '45 | Finland 6% “iniand 78 60 Kla ki Coast & KFond J&G 4%8 5. Fram 1 D 1%3'42 French 7849, French Gvi 7% Gen Baking 5%s'40 7 Gen Motors 6s 37.. 39 Gen P Sv 5%s°39 Ger Cen Bk Ger Cen Bk 6560 O 25 German Bank 75 ‘50 3 Goody'r Rub §s " GrandTr sf db 6 Grand Trunk 7s '40 10 Grt Nor 4% 2 Grt Nor 4% 15 Grt Nor §3°73. 2 Grt Nor gn 6%8 ‘52 22 Grt Nor gen 78 '36. 225 Greek 6363 3 Hoe & Co6%s'34.. 2 Hud & M ad) 7. Hud & M rf Hunible Ol 53 '37. . Hum O&R 6%s 62. MBTIistpfssA.. 111 Cent ref 45 '55. 111 Cent 4% Il Cent 6% 100% 65 61 100% 6 4 1031 100 80 100% 86 15 102% 103% 128% 109 e 110% & 1027 105 7 19 106 4 100% 1063 V6% 102% 107 102 102 * 103% 10715 107% 1075% 101% 103% 80 881y 91y 1813 17 106 118% 125 964 100% 39 40% 46 57 75 101% Tty 50% 106% 96% 103 107 4. Int M Co 68 ret "41.. int Match 68°47. Int MM col tr Int Pap 6s ‘65 Int Ry A IntRy CA 6% INtT&T 4% 13t T&T cv 4 %83 Int T & T 6855 . Towa Cent rf 4. . Irish Free St Ls ‘60, Italv 7851, .. Ttaly Cr't PU 7852 Ltaly Pub Sv 78 52, pa! %854 Jugosl Bank 78 '57. Kan City Sou 35 '50 Kan City Sou 68 ‘50 Kan City Ter Kresge Found s 36 Kreug & Toll 6 '59, Lackaw St 5s'50... LacG St L bs°34... Laclede 6143 C '63. . Laclede 534 D '60.. Lake Shore 3%s ‘97 Lautaro Nit 6 '64.. Lig & Myers 7s *44., Leh Vaicv 48 200, Loew's 65 ex war Long Isi rf 4349 Loriliard 6s ‘51 Lorfllard §3%s foorillard 78 ‘44 Lou G & E1 63 ‘62 L&N Lyons 6s ‘34 La & Ark 58 '69 McKes & R 5% 850 Manh Ry 1st Market St Boheoars Grann oy 2. MK&TprinbsA. MK&Talj6s 67.. Mo Pac gen 48 "7, Mo Pac s A ‘86, Mo Pac 68 F *77 Mo Pac 58 G '78. .. Mo Pac 55 H '80 Mo Pac ref b8 & Mo Pac 538 cv "4y, Mont Pow bs - Mont Tram Montevideo 78 '62. . Mor & Co 18t 43 Nat Dairy 5% s ‘4 Nat Rad 6348 47 NatRy M 4%s N&T&M6sB New 8 Wales 6 New 8 Wa Cgn3 N ¥ Cen 48 NY Cent 4% NY Cenrf 4452013 NYCre im 65 2013.. N ¥ Cent db 6 NY CLS cl3%s NYC&StLa meonmRmSRnCanee o b e hea @ RRaZ-BZcand 3 ‘37, e Coone w~raANANRN KNGO GBINN - NY ELH&P 58 NY NH&H 4%/ NY NH&H clt 6s. .. NY NH&H ev db s NY O&W 1st 48°92. NY Rys Inc 68 65. . 9 Nia Sh Md 5%s'50 Nord 6%8 '50 —a N A Ed'son 6sC 69 Nor Am Ed 6%s 63 NorOT& L 6s47.. Nor Pac 38 2047 105% P T Y Norway 58'63... Norway 5348 '65. .. Norway Norway 68 44 52, Oreg-Wash 4s°61. . Orient dev 53 Orient dev 68 63... Pac G & Kl 6342 Pac T&T ref 5s Pan-Am Pet 6i Pathe Exch 7s'37.. Penn 4s '48 St . Penna 4% s D31 Penn gen 4%s 65 Penn 434370 Penn 4%s Penn 55 64. Penna gen 5s F3 e e T g N T Penples’ Gas 5 Pere Mar 41s 110 9944 103 »7 101% 105% 58 69% 105 99% 995k 86% 106% 1013 101% 103% 8843 2 7 To% 80 904 8814 184 175 | 1064 118% 126% 1085 113% 98 981 105 4 109% 4 106% 85% 78% 107 111% 86% 8% 99 101 102% ! g 106% B6 Bl 107 Phila Co 68767, Pnila & Read 63 Phillip Pet 5 s ‘39 Pillsb F M 68 '43. P CC&SIL 4%8°77. PCC&StL5sB. . P& W V4%sB'59. Poland 65 °40. Poland 7s *47. Poland 8s ‘50 Port Gen El 413560 Porto Alegr Pos Tel & ue 7%s ‘52 Prussia 6s ‘52 Public Serv 4s '7 Pub Sv G 4%s 67 Pure O11 5% 37, Queenland 75 *41. Read gn 4%s A '97. Rem Arms 63 A "37. Rem R5%s A 47 Rhinel A Rhine Wi 2 Rhine West 6s '55. Rhine West 7s '60. . Rich Oll ca) €n 44 . Rlo de Jan 634852, Rio de Jan 8s°46. .. R Gr De Sul8s "46. . Rio Gr W 1at 48 StL IM R&G 4833, 28 StL&SFindsA., 39 StL&SF4%8'78. 114 St L&SF prin6sB. 13 StL&SK gen 55 ‘31. StLS W st 4 Saxon Pu W 6% Saxon 7846 SeabA L rf Seab A L 4s s Seab A L cv Seine 78 '42. Serba-Cr-81 Shell Un O11 5847, Shell Un O11 68 '49. Shinyetsu 6% Siny 6 ne Cr O 6% = inc P L 8 '43. Skelly O11 5%8 ‘3 Solssons 68 934 89% 8% Speclal Dispatch to The Star. CHICAGO, May 25.—Central Publie Service Corporation has one 48 674 | the larger public untility groups of the 63 70 87% country, Nation-wide in scope, it 18 declared by Albert E. Peirce, president, in the annual report made public to- day. Figures accompanying report reveal that total assets of the Central Public Service Corporation were in= creased by well over 81 per cent in the last year, and have grown more than 330 per cent in three years. There was substantial growth in every phase of the system’s operations last year—earnings, properties, custom- ers and communities served, and the number of stockholders and employes. As of December 31, 1930, total assets amounted to $364,127,426, against $200. 340.680 the year previous, $94,783458 at the end of 1928, and $84,047,225 ab the close of 1927. Two important additions were made to the properties last year, Pacific Northwest Public Service Co. in March and Southern Cities Public Utility Co. in November. There was naturally & substantial accompanying growth in earning power. Gross earnings and other income for 1930, of the properties owned at the end of the year, amounted to $43.238.394, compared with $24,988, 696 in 1929, for the properties owned at | December 31, 1929. On the same basis | the net earnings for 1930 were $18.~ 111432, as compared with $10,088,841 for 1929, INVESTMENT TRUSTS NEW YORK, May 25 (#).—Overa the-counter market— Secur B & Gen Secur 13 pi Brit & Cont 6% pf Composite Tr Shrs Founders 6% pf . unders nders war A Founders 1-140th com Ins Stocks 1 & Pac pf war Bankers"Nat Tnv Bansiclila Corp Basic Indusiry S British Type Inve ain & ain & Incorporated Investors Incorporated Investors IRSSEBRrE & Gen Man’ Gor 5 & Gen ; Int Becur Corp Al A....." T _Corp Sh Muf Inves Mutual Manage ation Wide Seciir iational Indust Sh Natior Shrs k Tr S BoRuraSuanadBuas: Tat Selected Am Sy res Selected Income Shrs Selected Manage.aents Ehawmut_Bank ... Spencer Trask Fund Stand Am Trust Shrs Stand Coilet Trusteed Sh fiate Street Invest. Corp Super 102% 6% Ham 9% 1054 107% 102% 85 104% “Trustee 81% 100% 97X | 150 20th United Pixed Shrs ... % United Founders 1-70th com..” United Ins Shrs . ...... United Bank 1r ' & British Int Lig b Tat L8 8ol Sou Bel T&T 68 '41. SW Bell T Sou Pac ref Sou Ry gen 43 '5¢ Sou Ry b8 '94. Sou Ry 68 '56. Sou Ry 6%8 'S St OfI N J 68 "4 StOINY 4% Tenn Cop 6s"41. Tenn EI P 65 A 47 Tex & Ark 5%8 50, Tex Corp cv 58 '44 Tex & Pac 68 C” Third Av ref 4s 2 Third Av 1st 58'37.. 10 Third Av adj b8 4 Toho El Pow 78 '65. 16 Tokio 5%8°61. . 3 Tokio El Lt 68’ 53.. 20 45 Utd King 6%s°'37.. U S Rub 1st 68°47 VA StI W 6%sA Utd St W 638 C'51 Uruguay 63 '60. Uruguay 6s64. Uruguay 8s '46. Utah P & L 584 Ul Pow 58 '59 ww. Uil Pow 5%3 47« Vert Sug 1st 75 "42. Vienna 6s ‘5 Va Ry & Po va Ry 1st5s Wabash 1st bs ‘39 Wabash 2d bs 39 Wabash 6s B ‘76 V/alworth 6s A " Warn Br Pic 10% | Warn Quin 6s ‘39, 6 | Wi 87% 104% 106%5 West Pac b3 ‘4 West Un Tel b8 '51. 10215 | Wis Cen gn 4s 3 100 " yokohama 6 49% ygstn SnaT 106% Yng StI&T 58 B ShbasessptsaB i eta sttt G G S S T 3357 TSR o AR wal SaeRal