Evening Star Newspaper, May 28, 1931, Page 14

FIN INPROVED FOREEN “TRADE IS FORECAST “Farvell Disousses “Barriers” . 72% 86 Mullins Mfg 2 % 6% Sparks Withing (1). 11 E to Early Resumption of 7__ Murray Corp 7 Spencer Ketiog (806) 1 40° 28% Nash Motors (4).... Splegel-May-Stern. . Stand Brands (1.30) F luslness Afimty_ 55 NashCh&StL (5).. wo; Stand G& B (3%)... 4% Nat Acme (80c). 3% Nat Bella Hess...... Stand G & E pf ( BY JOHN F. SINCLAIR. teh to The Star. 62% Nat Biscuit (2.80) Stand G & E pf (6 46 'YORK, May 28.—Two thousand Nat Biscuit pt Stand Invest Corp ites to the Foreign Trade conve':; ANCIAL - NEW YORK STOCK EXCHANGE = Received by Private Wire Direct to The Star Office. WEAESS N BOND| o= BONDS e PRCESCONTRES . Rail and Foreign Securities Prove Soft Spots in Market. ~Prev. 1931~ Stock ana Sales— High. Low. Dividend Rate. Add 00. Hign. 8% South Port RicoSug. 12 9 (Continued From Page 13.) rnv 1031~ Stock an “Sales— Low. Dividend Rate, _ Add 00, Hieh. Low. A‘”- 27% Motor Products (3).. 2 28 8 19% 10% Holorwuh:el a.... ‘g ‘62.. 16 lm lm lm 99% MBTistpeosd.. 11 100% prose oot 874 87K 87U 6 '.... 1 e w Reduction in Federal Interest o Rates Means Saving of Millions. Prev. Low. Ciose. Uiose. % 9 % 42 A% 7% 6% 31 31 113 6% High Loy. - Close. Lib3%s II-C'I 13 10216 10216 102 16 ~47. 11 10313 108 10 108 10 3 Spalding st vi (7). 1208 113 g 85 107 2107 2107 2 2109 3109 3109 8 58 11822 11319 11319 BY F. H. RICHARDSON, '~ Bpecial Dispatch to The Star. NEW YORK, May 28.—Bonds were once again acutely weak today in only . moderately aftive trading. The wide | A Nat Pow & Lt (1).... 11 4 price declines on small sales that have E::g"")“fi’”‘. o anh 3 the past 10 ‘:r’:: were &u"fi?"fi.‘lflf s B dence in railroad bonds of the junior eh- lnd ron rumm ouble in various quarters, but it probable that there was no more truth in the reports than & was two months ago. But they to aggravate the current nervousness. ‘Time money rates were unchanged. German Bonds. The feature wun:essenrebrnklx: vernmen! per cen bonds, &g Toan Soa Boated. under “the plan, & fihemmmm‘mmuwdfl Ddfl under the Stand Ol Cal (h2%). Stand Oll Exp pf (5). 36 Stand Oll of Kansas. 132 141 4% Nt Nat Lead pf A (7)... Cialy Pub Bv 18753, 14 4 o0 Tennessee Corp(50c) Texas Corp (2) Texas G Sulphur (3). Texas P C & Oll rufie the fiscal year 1932 will mean a or nearly $2,000,000 in mtam ks concerned, not mudeqmmuemy-orreduoeahnk earnings, saving The Fair pf (7). Thermoid Co. Third Avenu: Third Nat Invest. ‘Thompson Prod 1. 20. Thomp-Star pf (3%) Tide Water As (60c) . Timken Det Ax (80¢) Timken Roller (3)... ‘Tobacco Products. Tran erica (1)... Transue & W (1).... Tri-Cont COrp..ca.o. Tri-Cont Corp pf (6). ‘Truax Traer Coal Co. Truseon Stl (g1.20) -21% _11% Ulen & Co (1.60) ~75% ~ 46% Und-Ell-Fisher (5).. Union Bag & Paper. . Union Carb & C 2.60. Arm & Co 4%s 3! Arm Del 6338 43 Atchison ad) 4s°95 Atchison gen 4895 Atchiscv 4%s 41, ., Atch Ariz 4%s°62., At Guif 58 °59... At Ref deb 5837 Australia fln'l 3 101% 101 8 lg; 101 mal to pruenl ur even lower levels, of rising prices 18 of pmlfi!rlt L m"tnet, Mr. Farrell attacked the foreign trade problem from all sides— barrers, uncontrolled production, fixation—and emphasized North Am Ed pf Northern Pacifle ( Northwest Tel (3) 19% 5% 2% Oliver 6% 3% Omnibus Corp. ) 58% 35 Otis Elevator (114).. 16% 6% Otls St 69% 364 Otis 394383 Owena 1 B b4% Pacific Gas & Bl (3). Pacific Lighting (3). Pacific Mills. s Pacific Tel & Tol (7). 108 Packard Motor (40c) 79 Pan-Am Petrol B 1 Panhandle P&R.... Paramount-Pub 2% . 5% Park & Tilford 1% Park Utah. Parmelee Transport. Pathe Exchange. Patino Mines. .o Peerless Motor Car. . Penick & Ford (1)... Penney (J C) (2.40).. Penn Dixie Cement. . Penn RR (4).. reductions savings m“””‘h‘:fifi”““fl. ""'"’u&‘.“a"* ir rates, are ex) nounce further reductions. le moratorium and fl'nl the Reich wfll have difficulty nnum; funds to pay the June coupon. break carried off the of M.her German bonds, such as parations 7s, German Central Bank and 7s, Berlin 6s, Cologne 615s, Saxon 7s, Electric Power of Germany /h:nd United Steel Works 63s. Te WAS an abrupt recovery o( over 2 points in German Government 5 i publication at noon of a cable received xmmummmm blnl.s in Berlin. 'This stated that reparations revisions would have no effect upon the service of German dollar bonds. Argentine issues were off about 3 points for most issues of the 6s, but in a few cases—where the drops on ‘ednesday had been widest—there were gains. The list showed a tendency to stabilize around 67. It was stated that the Argentine government would have difficulty arranging the refunding of $50,000, 000 of 5 cent notes, which mature here 1. Chilean, Co- lombian, Uruguayan and other South Americans were weak also. Losses at Opening. Bonds were weak again at the open- ing, but the trading was not so con- centrated in the raflroad group as on ‘Wednesday. ci Copper fltund "‘ln/l"A:.fllolchllun off i, an Nitrate 7s, off 13, illustrated the types ected. There 'were fractional Missouri-Pacific 5s, Nickel Plate l'/zl and International Great Nofl.h!m d’ll.l':mznu. Richfield Oil 6s_dropped to a new low. In the lureI(n department, there were losses of a point or more in Colombia 6s and .German Central Bank issues, but Chile Mortgage Bank 6s gained 4 points and there was evidence of firm- ness in the rest of the South American group. m 7 25 2 85 25! 12 6 1 112% 112% z 107% lo’lu 43 l'l 100% DD% 10 98% 98% 5 103% 103% 1 104% 104% 69% Un TankCar (1.60)... 2 Unit Alreraft....... 231 Unit Afrcraft pf (3) Utd Am Bosch. . Unit Biscuit (2).. CT - 8 S Unit G & Im (1.20)... Unit Plece D W (2).. L Berlin CyEl 6%s'51 Beth Steel pm 53°36 Bolivia 7 i ! 9% T4% 59% 84% _3 R H £ £ S Indus Alcuholfl) S Leathsr...... | 5 Petrolm CDolAm(!) 12 l’hilpl Dofl!z i’)- PMlln Mor & Co (1).. Phillips Petroleum. PERITER i i i s | E i i caaaaqaaad 10 108 108 2 71 704 -nm 11 9% 95 68, 1 49% 49% t’fi gllyn Un 1st 68°60. 42 l‘l’g% "11:% l:! udapest 6 4% Py - 1 111% 111% 111% Buff Gen El 4% 4 Bush T Bldg | Pierce Petroleum. Pillsbury Flour (2).. PittsF W & Cpf (7). 40s Pitts Screw (1.40)... 2 2 E Unit Stores pt (4) Univ Leaf Tob (3) Univ Plc 1st pf (8) Univ Pipe & Rad. Utl] P&L A (ot % Vadasco Sales Corp.. 14 Vadasco Sales Cp pf. 25% Vanadium Corp’ 121 1% Va-Car Chem. 5 8% Va-Car Chem 6% Df. 1 59% Va Car Chem pf (7). 1 98% Va Elec & Pwr pf($). 50s 41% Vulcan Det (4). . 90 Vuican Det pf (7)... Waldort Sys (1%) Walworth Co. éfifg e Prairie Plpe L (3). Pressed Steel Car. 552 52 g2d Cen rf 43 lll !'I NYCreim g i 6 Pub Sy N J (3.40). b 8t NJM(I)..- 23% 3 6 Can Nat 4% s "5 Can Nat 6s July Can Nat 5s Oct Can Nat 5s ‘70 Washinfi‘smck Exchange & SALES. Potomac M Il 1953—485,000 at 109. Washington Gas '—-$500 at 106%4. B...rtbelro& Ross, xnc com.—50 at 10, 50 10 99% 99% 993 NY CaStL 4%8'18, 26 74 92, 107 « 11 116% 116% 116% Fe g 2 % Punta Alegre Sugar., 11% 5% Pure Oil. 55% 27 Purity Bakeries (3 Z7% -'ifl g BALTIMORE & OHIO. BALTIMORE, May 28 & m and mt’urni.‘ d.% ‘were eomy m m . corresponding month a year . port just made mhl.h Raily to Ol!% 3% 2 105% 105% 105% 7 114% 114% 114% 2% 51% 52 2 2 2 .72 73 78 2 105% 106% 105% - 38 110% 110% 110% Nia Sh Md5%s’60 6 93 93 93 9% Norf South bs ‘41.. AFTER CALL. Washington Gas 6s “A"—$1,000 at 103. w:ah:npx'wu Rwy. & Elec. pfd.—17 at 98, at 98, Bid and Asked Prices. PEEERERE 27878 ‘Real S1lk Hos(b10% ) 74% Real 811k Hos pf (7). 208 7 Rels (Robt) & Co.... 6% Remington-Rand 6 Rum&r (“0). 11% ll.plll‘lll 27% Repul lua . fiu Bflmuc.buflflfl’). 10; m‘l‘.b‘ (l) lMl M 24 Rhine W El P(ll 14) l 1% Richfield Ofl. Cen Ry NJ L1 h Cort-td deb b3 zZzz L - [ lD N deeacd i IS 2 zorm 382047, 68 68y ¢ 96 95 Nor Pac6s D 2047.. 1 101 101 101 No I’Ilrlllll)“. 87 111% 110% 110% | B Same 1 ‘White Motors (1).... White Sewing Mach. Wilcox Oil & Gas. ... Willys-Overland.... Willys-Over pt (7). Wilson & CO..vvvaen Wilson & Co A. . Woolworth (2.40)... 208 384 Worthington Pump.. 120 80% 66% Wrigley (Wm) (4).. 18 21% Yale & Towne (2)... 1 15% 7 Yellow Truck....... 120 ——— 13% 11 Zonite Prod Corp (1) 9 1% Sales of Stocks on New York Exchange. 10:30 AM 1200000 12: 2 1.500, 6 "' | CeNwn 4% 5¢ 2037, . |C TH&SE in 6s'60.. - | Chi Un 8ta 4%s 63, 15 sz:omhhu (1) lg St Louls & San Fran. Pot. lm Power 5 7. um Llelnove Wash, Rwy. ” % | Wash: Rws. & Elec. pfd. (5) M NATIONAL BANK. apial (1) 290 200 y g o re the annual cash early deciarations. Satra. Plus 4% d’ last 94 101% 101% 30 104% 104% 104% 3 109% 109% 109% 7 110% 110 110% 2 89% 89 P Bt i) 3 lP us 50c in special preferred stock, ihis year—no regular rate. o UPRRNE -1 TP 191 J9% JOTSPUP S -PYY lPI n Plus 6% in stock 1% SniGer Packing. NORFOLK & WESTERN 4.0025.00; common PENNSY TO PURCHASE 16% lfl ! (Copyright, 1931. by North American News- ‘ Wh peper Allance, 1fc.) foS s et BALTIMORE RAILWAYS AFFECTED BY SLUMP| Special Dispatch to The Star. <l BALTIMORE, May 28.—Luclus president of the United Rail- 'vly-. ‘which controls the trolley system | of Baltimore, announced the local trac- Itkm company, although it has been af- ected by the general business depres- 'lim has suffered less than any other | street rallway in this section of the mer the first four months of 1931, the gross receipts of the United Railways 'Xell off "lu 943. while net receipts | declined $183,58 Gross pnungn | revenue for April, 1931, was reported af 1. 25'7“'16 8 decrease of $195, 052!0 ! 2 “eompared with the gross passenger | revenhie received in April, 1930. t ‘The net income for April was $11,- 450.40 compared with $67,093.92, last year, 8 decrease of $55643.52. Total | MIA. exvnm for last month were + ,909.61, decrease of $130.907.19 rover the eonupon ling period last year. KRR Al NEW YORK BANK STOCKS m YORK May 28 (#).—Over the counter market i p | | taxes and charges, against $2,054,363 EARNINGS IN SLUMP|G; Report of Norfolk & Western Railway Co. for four months ended April 30, 1931, shows net income of $5,395,065 after taxes and charges, equivalent after dividend requirements on 4 per cent preferred stock, to $3.61 a share on| 1,406,483 shares of common stock. This compares with $9,358,327 or $643 a common share in first four months of receding year. April net income was $1,320,792 after in_April, 1930, Statement for April and four months compares as follows: 1931 1930 $6,237,192 $8,167,623 Net op. incom . 1,428,564 2,258,840 Total income . - 1,724,743 2,470,421 Sur. after charges. 1,320,792 2,054,363 4 months’ gross...25787,179 34,335,468 Net op. income Total income .. Sur. after charges 53'5065 9,358,327 April gross . {CHICAGO LIVE STOCX mxm CHICAGO, May 28 (#) (United States Department of Agriculture) —Hogs— Receipts, 26,000 head, including 8,000 direct; montsly 10-15 lower than yes- terday’'s average; bulk, 160-210 pounds, 6.0026.15; 6.20; 220-)00 vounds : light light, good and eholoe, :3 ;g pounds, 6.00a6.15; ll‘ht ht, - pounds, weight, . 6,190,876 10,207,739 | . 17,013,329 11,026,027 | choice, and mefllun 3.2584.00; low cutter and cutut 2.25a3.25; bulls (yearlings ex- ) good and choice (beef), 3.75a uo- cutfer to medium, 2.75a3.85; vealers (milk fed), good ‘and choice, 7.5089.00; medlum. 650a7.50; cull and common, 5.0086.50. Stocker and feeder cattle—Steers, good and choice, 500- 1,050 pounds, 6.00a7.00; common snd medium, 4.7586.00. BheeD. 12,000; nearly steady; Spring lambs weak to 25 lower; bulk clipped lambs, éarly, 8.00a8.50; desirable na- buch out at Idahos un- ep and lambs: BDrI.n. lambs, good and choice, 9.00a 10.25; medium, 8.0029.00; common, 6.90a8.00; lambs, 90 pounds down, :ood and choice, 8.00a8.75; medium, 6.75a 8.00; 91-100 pounds, medium to choice, 6.50a8.60; all weights, common, 5.00a 6.75; ewes, 90-150 pounds, medium to choice, 1.75a3.00; all weights, cull and St s UTILITIES ADD 18,000 WORKERS TO PAY ROLL By the Associated Press. CHICAGO, May 28.—New industries established during 1930 in the terri- tories served by the Middle West Utili- ties System will use more than a mil- lion dollars worth of power annually, John B. Reynolds, vice president in charge of industrial development, said yesterday. He added that the establishment or jum ;| expansion of industries during 1930 in the communities served resulted in the mnlnmum of 18,000 additional per- an estimated pay roll increase ot 14,000, 000 & year. e GROCERY VOLUME DROPS. Ge: NEW YORK, May 28 (#).—Business | Good¥e: booked by grocery manufacturers so far run By the Assoclated Press, PHILADELPHIA, May has placed orders for approximately $16,000,000 with the ' Westinghouse Electric & Manufacturing Co. and the General Electric Co. for electric appa- and freight locomotives which are to built. ‘The locomotives are to be used when electrification of the railroad’s lines between New York, Philadelphia, Bal- timore and Washington is completed. PRI S0 st X0 CHICAGO DAIRY MARKET. CHICAGO, May 28 (#).—Butter— Receipts, 12,078 tubs; market firm; creamery extras (92 score), 23Y,; stand- ards (90 score, car lots), 23%; extra 89 score), 2015821%; seconds (86-87 score), 18148197, Eggs—Recelpts, 21,- 570 cases; et easy; extra firsts, lfl‘i’p::el‘hum:d fl';lfil, 17%; currents, recel storage-packed 19%; storage-packed exm 19%. SHORT-TERM SECUBITIES. (seported by J. & W. Seligman & Co.) ' Allis-Chalmers Co. 5s 183 American Tel. & SEsesssessa=Rs5558R BRSO L $16,000,000 EQUIPMENT | i 28. — The | Amer. ‘Pennsylvania Raflroad announced it | Natl ratus to be installed in 150 passenger | b firsts (90-91 score), 22a22); firsts (88- Ped gEasEey (88! Vash: oan & P SAVINGS BANK. da (o) N Bank of Bethe Commerce & East Washington ac (105 Soniis ‘Washington Mechanics (20) PIRE INSURANCE. American (12) Corcoran (10). s 55y 2g# TITLE INSURANCE. Columbla (eh) Real Estate (65 MISCELLANEOUS, Barber & Ross, dnc. com 3- 2.3B2BBRSVR82S w ¥aE. PARIS noum PRICES. PARIS, May 28 (P).—A heavy tone today. Go prevailed on the Bourse ‘Three unt Tentes, 20 mflnu: francs 60 29 cenl 25 francs MV; centimes. % trancs centimes. nn London, 124 francs don..r was quoted at U. 8. TREASURY BALANCE. The United States Treasury announced today as of close of n-llnll.n-'..ul Mmm ‘“ )1 3 penditures, -$11$77,682.54.. per cent loan, 102 o balance,| B8 Bs- - Cuba Nor 6%s '43.. Csecho 98 '52.. Del & Hud rf 4 Del & Hud 5% Dutch East I Dutch East I Erl- con4s A 63, Erie conv 48 B, Flat 78 ex war *46. Finland 5% 68, Finland 6s *45 Grand Trunk 7s ‘40 Grt Nor 4%s°'76 D, Grt Nor 4%s"i7TE 52888000 - @ = o Pulenow 020 aSante Phillip Pfl 5“! ’fl. 26 Pilisb F M Phfllpnln'm OI .10 135 . 65 1 104% 104% 104% 23 28 PCC&StL 4%8'77. 15 101% 101'4 1018% PCC&StLbsA, 9% 4 110% 110% 110% | Sou oo | Thira Av aas sa u. 4 58% B58% 58y 8 170 2 102 20 102 70 Queenland 7s "41. Read gn 4% s A 97, 5 93% ll“ 71 8 38 894 70 102 101 | 102 .70 91 70 102 ’!" 88 88 Toho Ei Pow %1 U!Rnb 18t 68’47, Un St1 W 6%s AT vasuw l!ile ‘51 L) Util Pow 58 '59 ww. 5 | Utll Pow 645 '47. o West Pac 6 West Un Tel 6s '51. West Union 63 °60.. 92 1 West Un T 635 '36. 1 w 7 101% 100% 1004 00% 100 mu.‘ 108 108