Evening Star Newspaper, May 29, 1931, Page 13

FINANCIA CURB SHARES EASE | [ NEW YORK CURB MARKE INDRAGGY MARKET| Selling of 0il, Gas and Food Stocks Unsettles Gen- eral List. BY JOHN A. CRONE. Bpecial Dhnl!ch to The Btar. YORK, May 29.—Opening lrrgullrly higher today, stock on the Exchange encountéred some sell- ing, especially in the petroleum natural gas and food shares, which slowed the pace of trading and erased a consider- able part of the early gains. Electric Bond & Share was up about int most of the first few hours. Cl 's Service around midday was up a small fraction, but dealings in it were on & much reduced scale. United Light & Power A, Middle West Utilitles and Niagara Hudson Power also were L3 trifle better at this time. Standard Oil of Indlana d.ld not break into new low ground until early afternoon, having been preceded by Vacuum Oil, which was quoted ex-divi- dend today. National Trapsit was down about a half point and National Fuel Gas, weakest of the natural gas shares, hit & new 1931 low. Saxet was rather Inactive, as the company announced & pecial shareholders’ meeting June 10. at lhlch the proposition of chan; the firm name to Republic Gas poration would be voted on. Canadian securities in the foreign gave a better account of themselves than for any similar period in the last week. Bell Telephone of Canada opened up & peint. Montreal Light, Heat & Power initially appeared up about 5 points. Hiram Walker, Brazilian Trac- tion Light and International Petro- leum also braced. Empire Steel, a receiver for which was appointed pending liquidation or reor- ganization late Thursday, opened up a shade, but remained inactive. This re- ceivership action did not unsettle other sheet makers’ stocks, but further blow- ing out of furnaces and r:duction of scrap prices had a general depressing effect on most of the steel group. Dow Chemical” again moved slightly lower, despite its limited floating supply. American Cyanamid B was quiet, but clung to its low level for the year. ‘These moves directly reflected the un- certan trends of the chemical industry. Neisncr Bros. preferred opened up 312 points, but this bulge was exceptional, rather than typical, of the chain shares, The rise in Wayne Pump likewise did not reflect a gen°ral trend. M-sta Ma- | chine was a trifle higher. Perhaps forecasting the declaration of the usual 10-cent extra and the reg- ular dividend, Parke-Davis opened frac- tionaliy higher about an hour before the dividend was announced. Swift In- ternational, firsi of the food shares to Aappear, came out at 3314, up 1, but its- early behavior was not typical of later movements in the food division. P:r- haps reflecting the weakness of dairy- ing shares over on the big board, Car- mation Co. declinad Ivactmnally BOND ISSUE PLANNED BALTIMORE. May 29 (Special). — Hearing was held by the Public Service Commission yesterday on a petition by the Consolidated Gas, Electric Light & fav;:r Co. :o rEl(sur $18,000,000 worth of T cen rst refunding mortga bonds due 50 years hence. (:mncmegmglsE a hearing was held on the company’s plea to pay off $15,809,000 in series 2 5 per cent bonds redeemable July 22 of ’I;us r(&'r The price is $105 apiece plus ! &0 cxplanatory statement at- tached fo the firs. petition the com- pany znnounces that improvements to b; :cs'}'m{“t (}% by the end of August will cos 535,139. The sum inch - tricel improvement 1 “dcs 25 extension of gas lines. $276, \ n work practicall, $634,860. = S r- The company also plans to acquire ' additional pmpcx ty. CHICAGO STOCK MARKET B the Associated Press CHICAGO, May 29. —Following is \he\ complete official list of t-ansactions in | stocks on the Chi Soaay: icago Stock Exchange . o £5-253 H a Assoc Tel Ut 7. 140 Baxier Laund 4., °" Y CELTIr TS Borg n vx Ao 300 Brsun ¥ °§’f LR 300 Butler fros Canal Constrii 2GRt &° S0 wes: s o 100 Cent & S W“‘ E \n Cherry Eurre!l um 1825 Comwith Eais " 100 Construct Mat ea Eq 400 G Lakes Atrcrats | 200 Gt Lakes Dredge 2600 Grigsby-Grunow 500 Hall Print 100 Houdaille-Her 1 160 Il Br : 0 Siove 200 nellogg :nm A 1ov Manhat Dearborn . 0 100 Marshall Fieid Ele 153 Rat Family Str 4uy Nt Sccur Inv.. b Serv 200 R & Devry 3 onu-ku gats 230 Railrona 85 100 Raytheon vic 400 Seaboard Util 28031 Union Gas 00 S % 1660 B A0S s 1050 Swite intl 3 29 el Bond & Siaie pid 100 United Ga: 10 United Pub Util pid. 80U 3 ovdpsum s Soltituce Btock sales todsy, 40,000 shares. BONDS. 25000 Insull Util 6s '40. 3000 Northern Util 6Y25 '43 67 0% 2% W% Bond sales today, $28,000. ‘Wcmen of Australia are gemng their toflet preparations cheap as the result of a price war between local dealers and Chinese importers, caused by the low Chinese silver exchange. ey } X Dividend Rate. Aero Underwrit AfMijated Prod 1.6/ Alr Investors cv pf.. Ala Pow cum pf (7).. Alu Co of Am pf (6). Aluminum Co Ltd Alum Ltd cum pf Aluminum.Ltd Bwar. Am Br B fd shar Am Cigar Co... American Corp(15¢) Am Cit PAL B b10%. Am Com P A (b10%) Am Com Pr B(b10%) Am Cyanamid B, Am Dept Stores Am Equities Am For Pow war. Am Founder: Am Gas & Elec ($1). Am Gas & El pf (6) Am Invest. Ino (B Am Laundry Mach 2.300; ‘Am Maracaibo. Am Potash & Ch ( Am Superpow (400). 24 Am Superp 1at (8 Am Util&Gen (B)vte Am Yvette Co (25¢). Anglo Chil Nitrate. . Appalachian Gas. ... Appalachian Gas wr. Arcturus Rad Tube.. Arkansas Nat Gas Arkans Nat Gas A. Ark N G cu pf (60c). 4 Armstrong Cork (1).200s 0 Gas&El A (a2). 2: a=SeBand 97% 110% T rrulann=Sea - ResoG & Elct (8): Assoc Tel Ut (b§%). Atl Coast Fish...... Plywood (2).. Ut Corp. Babcock & Wil (7). Bell Tel of Can (8). Beneficial 1L (1%) Bigelow-Sanford. ... 2 Bliss Co (EW) (n1).. Slue Ridge Corp. Blue Ridge cv pi Braz Tr & Lt (b8% Brill Corp B. BrA T cou B1 17 -be. 5 Buff N&EP of (1.60). Buff N & E P 1st (5). Burco Inc.... o Burco Inc ev pf (3) Burco Inc war.. Canada Marcon! nation Co (§1%) Celanese Cp pf (7). Cent Pub Sv Del Cent Pub SveA b10% i Cent Stat El (b10%). Cent St EI pf xw (6). Chain Store Devel. Chat Ph Aln.v (1). Childs Co pt (7). Citles Service (g30c) 235 Citles Serv pf (6)... 4 Claude Neon Lts, Inc 714 Clev EI Illum (1.60). { Colombia Syndicate, Colon Ol ... 4 Colts Pat Fire A 13. Col Ol & Gas vte. Cmwlth Edison (8 Cmwlth & Sou war. Com Wat Ser g12%e Comstock Tunnel. .. Conscl Copper. .. Consol Dairy Prod. Cem Gas Baito (3.60). ConsoLGas Ut A 2.20 4 Coatl GRE pr pf (7). 258 Cont Shares conv pf.400s Cont Shares pf (B)..1258 Copeland Pr Inc (n). 1 Cord Corp. . 4 4 Corp Sec Ch (L6%) | Cosden O11 Curtiss Wright war. Dayton Alr & Eng. Deere & Co (1.20) De_Forest Radio. . 8% Deiroit Afrcraft Cp.. Dougzlas Afr (+1%) Dow Chemical (2). Lress SR A (3%) Uresser Mtz B (2 Dubilier Cond & Rad Duquesne Gas Corp Durant Motors. . Fast St Pow B (1). East Util Inv A ler Electric Cor Elec B & Sh pf (8).. Elec B & Shcu pf 5. lec Pow Asso A (1) Elec P & Lt op war., El Sharehold (b6%). Bl Shareh pf (a6%). 1mp Corporation. Emp G & F cu pt (8) 1001 Emp Steel Corp..... Emp Reinsur (1.60) Engineers Gold..... Europ E Ltd A (80¢) i Europ Elec deb rts. . Evans Wallow Lead. Ex-cello Air & Tool. 4 Fairchild Aviation. . “anny Farmer C (1). ders MIg CoA. .. Ford M Can A (1.20) Ford Mot Ltd 36 3-5¢ Foremost Fabrics. Foundation For Sh: Gen G&Ecv pf B (l) Gen Petroleum...... Gen The Eq ev pf(3). Glen Alden Coal (4).. Globe Underwr(15( | Gold Seal Elec new.. Goldman Sach T C... Graymur Corp (1).. Gt At&Pac Tea nv(§) Groc Strs Prod vie. . Guif Ofl of Pa t1%). Horn & Hard pf (7). Hudson Bav M &S .. Humble Of) (12%). Huyler St cu pf (7). Hygrade Food Prod. imp O1l of Can (50¢) Ind Ter Illu Of1 B, Insull Inv (b6%) Insurance See (70¢c Intercontinent Fet a. int Petroleum (1). 1 ll“i 2% Ttallan Suverpow A.. % Itallan Superp war.. Kolster-Br (Am 8h). Lackawanna Sec (4). Lefcourt Realty 1.60 Leh Coal & Nav 1.30, % Leonard O11. Libby McN: 18% Lily Tulip Cup (1*) | 3% Lion Oll & Refining. 14% Lone Star Gas n 8! Magdalena Synd. Mass Uil Assoc. 1% 1% v 7 114% 114% 1% 1% IM 93% . 100% 100% lfl Mead Johnson (14).. Memph N G Co (60¢) Mid Roy ev pf (2)... Pipe L (A). Mo-Kan Pipe L (B). Mont Lt H&P (1%). Moore Co pt Mountain Nat American Co. Niag-Hud Pow (: CG) Niles-Bem-Pond (2). Nor & 8o Am Corp A. Nor St Pow A (8 Nor St Pow pf (§) Ohio Brass (B) (5).. Ohio Copper. . Outboard Mot A Outboard Motor B. Pan Am Alrwa; Parke Davis (11. 45). Parker Rust Pr (3).. Pennroad Corp (20e) Peop L& P A (2.40). Phoenix Secur Corp. Phoenix S C pf (3) Pilot Rad Tube A. Pitney B P n (20c) Plymouth Ofl (1). Foterero Sugar. Pub Util Hold war.. Pub Util Hold Cp xw Puget Sa P&L of (6) Pure O11 pf (6). Q R S-De Vry. Rwy & Lt Secur (m Lainbow Luin Pr A. % Rainbow Lum Pr B. Reiter-Foster. . Relfance Int Cor B. . Roch Gas&F, pt D(6) Roosevelt Field Inc Root Ref cv pr pf. Rossia Int Corp..... 4 St Regis Paper (1).. Salt Creek Pro(1.40) Saxet Co..... Seeman Bros (3). Seg Lock & H (50c). 45% S1,Ind full pd (53%4). v-\lu Ind prior (5%). Shattuck Den Min Shenandoah Corp. Shen Corp pf (a3)... Sherwin Wil (143%4). Signature Hosfery. . Singer Mfg (112%) SoCalEdpfA (1%). # So Am Goid & Plat.. SouthCEdpt B 1%. South CEdpt C1%.. South COTD......... Southld Royalty 60c. SW Dairy Products. Stand Ofl of Ind (2).. Stand Oil of Ky 1.60. Stand O1], Ohio (2%) Sun Inv. Taggart Corporation Tampa Electric (32). ‘Tran Con Air Tran.. Trans Lux DL P Tri-Cont Corp war. ‘Tubise Cantillon (B) Union Ofl Assoc (2). Unit Corp war, Unit Founders. Unit Gas Corp. Unit Gas war. Unit Lt &Pwr A (ll . Unit Lt&Pwr(B) (1) U 8 Dairy (B)...... U S & Overseas war. Penn Pw & Lt pf (6). 508 Penn Pw & Lt pf (7). Rock Lt & P (90¢)... Relected Industries. . South Penn Ofl (1). .- Stand P& L p! .. & Swift Internat (3)... Tri Utllities (31.20).. Un Nat Gas Can (1).. Unit Chem pt pt (3) . Mavis Bottling (A).. May Rad & Telev(1), Mesta Machine (3).+ Niag-Hud Pow A w.. Niag-Hud Pow Bw.. 114 97 40 % 5 1% 28% 22% ) [ 26% 11508 96 35 5% 105% 111 15% 508 3 2 Pub Ut Hold cu pf(3) 108 309 1.5. [SYSTSTSSTe e - =3 = oo s P TSP » o £y RNA ERRUON-E AR DD AN N - - e DN N0 T Unit Lt& Pwr pf (6). U 8 Elec Power ww.. U S Foll (B) (50c)... U S Inter Seo 1st pf.. Unit Verde Ext (2).., Utl] PALt(at1.02%). " UtPAL Biat1.02%). 114 97 40 5 1% 28% 22% - % L 26% 97 54 106% 1 15w 1% 23 1% 59 L 3 1'% 9% W 4 281y 99 6314 1 36 1% Received by Private Win Direct te The Star Office __... i 2 95,,2? e 223855883 389853 3338555 S - m" 37> 8, 2 LTt Pt Y WS 9999990! 4 > S 99! 3353 22258 & *s * * 9Cit Ber Gas P s ’43 1 Gomdr Larabee 65 41 33 mwh C, 56 104% Bs 4 PUR T LT ERE L L PR L LR B L SR & O TEFEV ERRE Bet fo"Bid otas '52 16 Det Inter Brdi ke Power 4 Gen Wat Wk 65 B4 5 Georgia Power 85 81 1012 1Glidden Co 5! 83 5 Grand Trunk, é1ys 36 100% 90 Gulf Oil Pa 85 '37... 101 PAL 2 heui CULe a5 B 140 11Inter Pw Sec 7s E '57 12 Intern Sec Am S5s '47 1§ Intersta Power 8s 7Intersta Power 6s ' 11nves Co 55 A '47 x: 24 Towa-Neb L&P 53 18 Libby McN & L 55 *42 4 Lone Star Gas_ 5¢ " 19La P & L 5 6 Mass Gas 5ius 8Memph P&L 55 A 48 7Mid West UE 55 132 cv A 34 cv. x U '3 lDOhl’! l‘ILIOI\ 5! . 22 Ohio Pow 4' 21 Okin Gas & i:l 55 24 Eatage GRE 4 RS &8 4 Y CHARLES F. II’IARI. break in Q.hll 'flk is due, it ll Belleved w ne- cessitous ug:,mum on the part of stitutional holders quite as much as to the confused political And credit condi- tions in the countries of issue. ‘The most astonishing of nll of the price collapses in this fmur of about $1,750,000,000 of value is that in the 6 per cent obligations of Amn- tine, These have always been reg: as the best of the South Alntrlnln eredlu and standing on & par with a number of the second-grade European government obligations. For years the 6 per cent bonds were quoted at or near their call price of 100. It was confidently expected in 1029 that the government debt would be revised on a 5 per cent interest basis. Argentine Chief Borrower. Argentine bonds held steady, even when defaults were in grnlpect for Bo- livia and Peru and when trouble was nwln&‘ln Brazil. No further back than middle of March the 6 per cent series sold at 98';. These same issues have this week been as low as 62. The difference of 36 points does not measure a change in either the in- ternal political state of affairs in Ar- gentina or that i3 its monetary status or in its foreign trade. Argentina has been the heaviest bor- rower here of the South American countries, with total issues outstanding of approximately $425000,000. Her bonds are currently selling at & dis- count of 30 rer preciation of approximately $135,000,000 in loans listed in the United States. Brazil has borrowed around $390,000,- 000. Her loans are at a discount of about 60 per cent, or a depreciation from the original values of $215,000,000. Loans to Chile have aggregated $310, 000,000. These are now at an average discount of 45 per cent, representing L3 . $140,000,000. Loans to Colamhu nd to the states of Colombia total $185,000,000. These. like those of Chile, have depreciated 45 per cent, or in value, $85,000,000. Bolivia has borrowed between $60,- 000,000 and $65,000,000 in this coun- try. Her loans are now in default and are selling at only about 20 per cent of their original price. Peru, likewise, has defaulted and her loans, aggre- gating nearly $95,000,000, are worth only about 20 per cent of the first market value. Uruguay. which, next to Argentina, wi sidered the best :redlt in South America and had been STOCK FINANCIAL DECLINE IN BONDS IS LAID TO SALES BY INSTITUTIONS Necessitous Liquidation of South and Cen- tral American Securities Has Caused Sharp Breaks in Prices. & modest borrower, issuing dollar loans to the extent of anly $65,000,000, now sees m-e)mnlnemn‘!otboeenbon the dollar. ll‘l‘tflmfim Altogether the shrinkage and Central American loars sold in the United States runs up into figures of between $600,000,000 and $700.- 000,000. This depreciation falls heavi- est on banks, investment trusts and prlvlhe investors. question is being asked with ER“ treqnency arid with considerable itterness as why no support is gven to the th and Central Amer- issues. Taking the extremel: ut figure of 3 per cent as the -v- commission to the underwriters hese k)lnt. it will be found that fl'le‘re was profit in excess of nsomm in the distribution of lolnl which are now selling at an av- e not much above 50 per cent of .fr first cost to the institution or lndi\mlunl investor. ‘The strange phase of the situation is that bonds, such as those of the Argentine government, whiclge South American e: claim are perfectly mnd (and even go o far as to asize the stability of lesser credits gonth Ameurlelll:, are u:l}:wed 20 drop 12 poin a single sess! !h}g did on Wednesday, and_ th tire Argentine dollar list of bonds be permitted to depreciate $20,000.000 on a turnover of only $150,000. The Ar- gentine 6s of 1959, for instance, broke 12 points on transactions of $5.000 in bonds. A pool or original underwriters using $10,000,000 of resources, or only 20 per cent of the profits, to the mem- bers of this pool, could have prevented many of the wide-open breaks that cent, representing a de-+p,ve occurred in issues that were free- ly distributed to the American public between the years 1925 and 1929. (Copyright, 1931.) CHAIN STORES REPORT BEST SALES RESULTS Special Dispatch to The Star. BOSTON, May 29.—Sales of chain stores have been affected the least by the depression, says the United Busi- ness Service of Boston. Chain store sales for the first four months of this year, in dollar value, were only 3.3 per cent less than in the corresponding period a vear age. Department store sales for this same period were 8 per cent under last year’s results, and sales of mail order houses declined 11.3 per cent. AND BOND AVERAGES By the Associated Press. FRIDAY, 1929 * New 1931 low. MAY 29. 10 Utilities. 100.2 100.2 (Copyright, 1931, Btandard Statistics Co.) in South | Oc New .York Cotton Spectal Dispatch to The Star, NEW YORK, May 29.—A decidedly more steady cotton market developed today and, after prices had recovered about $1 a baie under a large volume of business, the list closed 12 to 14 peints higher than on Thursday. ‘The prevailing low level for both spots IM contracts attracted more buying from consumers and houses vmh both foreign and domestic cone nections t steadily for mill ac~ count throughout the day. Spots ade vanced 10 points to 8.75. - @ Senaars” Cotton range: High. i Maren . July ... g | By the Associated Press. CHICAGO, May 20.—Today marked the wind-up of May contracts in all grains and proved generally unspectac- ‘ular, with Government-sponsorec>-agen- cles sellers of May wheat on all ad- vances. Month-end liquidating sales of May corn, however, found support from buyérs lacking, and a fall of 3% ‘cents 8 bushel from earlier top prices fol- lowed. A bearish influence as to wheat was a report from a trade authority es- timating 1931 domestic wheat produc- mm at 1,000,000 bushels more than was fore month ago the same ex- ptnlndi ,000,000 bushels more than s harvested /s cents lower m o and pro- visions vlryln( from § cenn decline to & rise of 12 cents, High. 831, Degember RYE — May, old. Stember December Markets at a Glance NEW YORK, May 29 (#).—Stocks weak;’ investment issues break to new lows. Bonds irregular; rails weak. Curb heavy: oils and specialties soft. Foreign exchanges lar; Spanish peseta again at new low. Cotton higher; unfavorable weather. Sugar higher; firm spot situation. Coffee higher; steady Brazilian markets. CHICAGO, May 29 (). — Wheat steady; bullish Canadian weather. Corn easy; bearish acreage estimate. Cattle firm. Hogs steady to higher. MONEY MARKET. NEW YORK, May 29 (#).—Call money renewed at 1l; per cent today and held at that rate in the official market, although it was available in the outside market at 1 per cent. Bankers' acceptances were extremely quiet, due to the approaching holiday. Few bills were being offered and rates were unchanged. Commercial paper | was quiet and unchanged and time money was dull and unchanged. B BALTIMORE STOCKS. | Special Dispatch to The Star. | BALTIMORE, May 29.— Sales. ST 8. | 7" 85'Arundel Corporation 10 Baltimore Tube pfd 45 Baitimore Trust Co 50 Black & Decker com Last sale. . 35 o & | @ elity & Guaranty | 18 Western Maryland Dairy pid. | 100 United Rwy & Elec 1st ds...... | — | The hymns used in the temple of the | ancient Hebrews formed the basis of | the melodies of the early Christian | chureh, and from these hymns were | formulated the first authoritative musi- THE CENTRAL PUBLIC SERVICE SYSTEM, operating in 24 States, serves practically every type of American industry * 6% 52% bl 24% 1% nual payment. °Ex stock, Ut & Ind. Vacuum Ol (2) Venezuela Petrolm. . Vie Finan Corp(40e) ‘Walker (H) (50e) Watson (J W) Co. Wayne Pump. Dividend rates in dollars based on Iast quarteriy or semi-an-' dividend, a Payable in cash or stock. dividend. _fPlus 5% In stock. SPlus 3% in stock. stock. n Plus 8% in stock. D Paid last year-—no regular rate. 4 184 1% 18% 1% 1Partly exirs. TPlus 4% in slOCK. bPayable in stock. e Adjustment g Plus 6% in stock. hPlus 1% in k Plus 10% in stock. m Plus 3% in Washington Produce Butter—One-pound prints, 29; tub, 28, Eggs—Hennery, 18a19; current re- ceipts, 16a17. Poultry, alive—Turkeys, | Spring__broiers, horns, 35a37; hens, 24e2v; Leghoins, 18: roosters, 16; keats, young, 70a80; old, 40. Meats—Beef, 11a1312; veal, 12al4; Spring lamb, 21; Wes 15186; pork loins, 19: fresh hams, 19; fresh shoul- ders, 14; smoked hams, 2 shoulders, 121;; strip bacon, 23; lard, ulk, 11. heavy,” 600a6.25; 6.50; Prults—Watermelon: elntl- lcu?es, jumbos, 3.75: standa. 3.25a3.50; ponys, 2.00a 00. nn-umu. 2.50a5.00; apples, box, 2.50a3.75; nanas, 1.00a2.00 pme-pvla-. 4. oranges, 250« 50 lemons, 5.00a8. 3 3.50; mumm 100 ‘es—Potatoes, new, p:r barrel, 150-pound uekl. 3.00; 100-pound ucn Idaho bakers, 100-pound sacks, .00; tomatoes, 6- pan conulmn soons cabbage, 158 1.00; kale, 25a40; spinach, 25a40; peas, 1.0021.50; string bsans, 1.00a1.50; Sum- mer squash, 1.50a2.00; cucumbers, 2.5/ 3.50a4.00; old, P 20; Spring ' eggplant, 4.0004.50; lettuce, Iceberg, 3.00; homegrown, baskets, 25a75; car- Tots, California, 2.7583.00; beets, per 100 bunches, 6.00; Snflnl onions, 100 Imnlchlg 51 .50a2.00; Bermudn. -pound sacks, 1. p'zper!. 4.00; aspara; 2.00a4.00; caulifiower, 2. corn, Zg:l.l 2.75; mushrooms, momy 1.25. CHICAGO LIVE STOCK MARKET CHICAGO, May 29 () (United States Department of Agriculture) —Hogs— Receipts, 18,000 head, inciuding 8,000 direct; steady to mostly 10 h her. bulk, 150-220 pounds, B’IOI. I‘ 6.25; 230-350 pounds, 5. 577506, 15; packing sows, .50a! . Light lllhl. good and chnlc‘ 140-160 pounds, 6.00a7.20; light Wd[ht 160-200 pounds, 6.10a6.25; medium weight, 200~ 250 pounds, 5.90a( 25; henvy velxht. 250-350 pounds, 5.4028. cking sows, medium and good, 275-500 pwnfli. 4.40a5.10; slaughter pigs, good snd cholce, 100-130 poundl 5. 'Illl.flfl. Cattle—Recel] he 1,000; quality ux classes: led steers rnnn el!‘lbh o 6.00a7.00; few Slaugl ul' cattle and vealers— hoice, 600- m 050I'I 15; m-x 100 pounds, 6. } ,100-1, !Wm . ,500 pou medlllm, mnm heifers, c;\wd nd choice, pounds, 6.00a7.25; com: dium, 4.5026.25; cows, 4.0025.00: common and medium. 4.00; l(n' c;:mr mumcdu:‘ur, 2.2503. 25d. bulls (yearlings exe! good an choice (beef), 3.7524.50; mfim— to. me- 5302850 dium, 2.75a3.85; vealers (milk-fed), good and choice, 7.5029.00; medium, 6.5027.00; cull and common. 5.00a6.50. Stocker and feeder cattle—Steers, good and choice, 500a1,050 pounds, HODI 1.050 common and medium, 4.75a6.00. heep—Receipts, 10,000; all classes fully steady; very little on sale; choice clipped lambs, 8.65 to shippars; plainer filds unsold: desirable mative Spring- | ers, 10.00810.50, bucks 1.00 less; few shorn ewes, 2.00a2.25. Slaughter sheep and lambs: Spring lambs, good and choice, 9.00a10.50; medium, 8.00a9.00; common, 6.0028.00; lambs, 99 pounds down, good and choice, 8.00a8.75; medi- [um 6.7528.00; 91-100 pounds, medium 'to choice, 6.5028.60; all weights, com- mon, 5.0026.75; ewes, 90-150 pounds, medium to choice, 1.75a3. 11 weights, cull and common, 1.00a2.00. —— INTEREST RATES. By the Associated Press. | ' FOREIGN 1Agr Mtg Baunk 7s BONDS. ra Xw—Without warrants. n—New. wi--When issued. FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal goid Selling checks lue. today, Time money showed a further reces- ' Bo sion last week, while call funds were strengthening ally. The aver- ages for both classes of funds, at lead- | ing money centers, follow, as calculated by the Department of Commerce: G ) Time. Week ended May 23. 175 1.50, week. l !3 1.92 388 U. S. TREASURY BALANCE. The United States Treasury balance, gnnounced today as of close of business u-y 27, was $83,216,665.78. Customs ceipts for the month to date were $25,318,270.04. Total ordinary expendi- tures, $6,726,531.17. A The Chinese are by no means a hum- ble race. The nam> of “Heavenly King- dom” given .to the land by its in! tants, the grandiose titles assumed by its rulers, the degrading ceremonies which used to be exacted from foreigners visiting China as confessions of their in‘eriority to the “Celestials,” show s extnvnnnz pride of race, Hardly an industry can beeiamed that does notsomewhere depend on the Central Public Service System for either of the System’s two principal commoditie , electricit, or gas. Michigan’s mines and motors — the Pacific Northwest’s lumber, ships and fish- eries—Wisconsin’s dairies — tobacco in the Carolinas — the infinite industrial variety of Illinois and Indiana—the expanding manufactures. of Alabama and Georgia— In 24 States,in 684 com- munities, the System serves both industries and the domestic needs of the indus- tries’ workers. These widespread, widely diversified operations fortify the Central Public Service System against regional fluc- tuations in prosperity,against reversals peculiar to any individual industry or group of industries. They permit it to draw strength from the more fortunate sections of the country, or segments of industry. They impart an even greater stability to a2 business which already has the important 9 65,000 follows: W astern Foreign ! Central Public Service Corporation G Invested capital more than . £523,000,000.00 grophically distributed as Eastern U. 8. North Central U.S. 34,190 Sowthern U. 8. U. S. Poucsions G 285% of awockhelders are cur tomar-ovcners B advantage of meeting the unvarying needs of everyday human life. Among the principal points served by the Central Public Service System are a number of leading cities, 21 with populations over 50,000. Included are: Seattle, Wash.; Port- land, Ore.; Atlanta, Ga.; Rockford, Ill.; Roanoke, Va.; Mobile, Ala.; Charleston, S. C; Manila, P. I, Port Arthur, Texas. The securities of this ma- jor unit of the public utility industry are held by over 65,000 stockholders, of whom 28% are customer- owners. They represent in- vested capital of more than $323,000,000. You are invited to write for an attractive 32-page book, entitled“Progress, Power and the Utilities.” Thisbook tells interestingly, in text, charts and pictures, the whole story of the organization, growth and outlook of the Central Public Service System. Address your inquiry to: Central Public Service Corporation, 224 South Michigan Avenue, Chicago. stockholders, geo- 15:92¢ V.8 17,005 74449 26 406 CENTRAL PUBLIC SERVICE CORPORATION CHICAGO