Evening Star Newspaper, June 4, 1931, Page 15

’ ‘Wednesday. LR} A * merce Department. a FINANCIAL "CURB SHARES GAIN IN STEADY MARKET Market Opens Higher, Sells Off and Then Goes For- ward Again. BY JOHN A. CRONE. Special Dispatch to Th Star. NEW YORK, June 4.—Resuming the advance of the previous session, the Curb Exchange opened h'"her today, sold off somewhat in the first hour, and then moved moderately forward as the market entered the early afternoon. Electric Bond & Share, one of the features of the opening with an initial sale of 5000 shares, rallied almost a point. {%ties Service moved within a range of a small tracion. The Insull group proved one of the | outstanding .-~ak spots. Common- wealth Edison quickly lost 13 points, reflecting the heaviness in Chicago Insull Utility Investment, Inc., also flattened, though Middle West Utilities remained fairly firm. ‘The olls, which mads a behted Te- covery Wednesday, were ing the first two hours today. the miscellancous issues such a Gui. 4, recovered several points or more. Vac- uum Oil was not nearly so spectaculary active as on Wednesday, but held fal-iy well around its best levels of that éay. Standard Oil of Indiana, which some see as a logical partner of Standard of Nebraska, which sells the former's products as well as those of Standard of Kansas and Midwest Refining, also braced. Standard of Kentucky, Humble, Creole Petroleum and similar securities fared better during this period. & Golden State Co., Ltd., with a gain of more than 2 points was the first of tvh! miscellaneous industrials to attain ®a new high price. Aluminum -Co. of America began what appeared to be another one of its spectacular swings. Newmont Mining, up more than 3 points, made the best snowing in the mines. Taking a cue from the big board, rails forged ahead. Pennroad Corporation and Pittsburgh & Lake Erie were the principal beneficiaries from this movex ment. Ford Motor of Canada B, after its recent sinking spell, was an out- standing issue in the mozor group with & rise of 3 p:ints. COMMODITY PRICES. By the Associated Press. General wholesale commodity prices continued their decline last week as the change was calculated by the Com- In the levels that follow, the average is given for com- parable periods, based on representing 1926 prlcu as 100. In addition, the selling price for a ton of composite steel products is given for like periods: All commodities. Steel. Week ended \lly 30. o D0 $31.33 ee Previous _wi Same week las si vea NEW YORK CURB MARKE Note—All stocks are nld in one excepting those du!znnu which shows those stocks ~Prev. 1931~ siock ana High. Low. Dividend Rate. Aéro Underwriters Atfillated Prod 1 60. were sold Alu Co of Am pf (6) % Am Austin Cai Am Br B fd shars. .. Am Capltal pr pf 5% Am Cigar Co Am CIt PEL (A)(a3) Ar Cit PEL B b10%. Am Com P A (b10% ) Am Com Pr B(b10% ) Am Cyanamid B. ... Am Dey.t Stores. .. Am Equities. ..,.. Am For Pow war. AmFork & Hoe 1% Am Founders. . Am Gas & Elec (£1). Am Invest Inc (B).. Am Laundry Mach 2. Am Lt & Trac (2% Am Maracaibo. Am Meter (3) | 2 Am Narural G E Am Superpcw (40¢c). Am Superp 1st (6).. Am Thread pf (25¢). Am Utll&Gen (B)vte Am Yvette Co (25¢). Amster Trad (48¢) Anglo Chil Nitrat, Appalachian Ga 5 Appalachian Gas wr. Arcturus Rad Tube. . Arkansas Nat Gas. .. Arkans Nat Gas A. Ark N G cu pf (60c). Armstrong Cork (1). Asso Gas & Electric. Asso Gas&El A (a2). Ass0G & Elct (8)...150s Assoc Tel Ut (b8% ). Atlas Util Corp. Axton Fish To A 3. Bahia Corp...... Bliss Co (EW) (ni). Slue Ridge Corp. Blue Ridge cv pf a3 RBraz Tr & Lt (b8%). Bruce (E L) Co Bulova cv pf (334) Bunk Hill & Sul (3). Butler Bros Cable & Wire B ret: Canada Marconi. . ... Cent Pub SvcA b10% Cent&Swn Ut (b7%) Cent Stat El (b10%). Chain Store Devel. .. Chat Ph Al n.v. (1).. Citles Service (g30c) Citles Serv pf (6) ... Claude Neon Lts, Inc Clev El 11lum (1.60). Colombia Syndicat, Colon 011, Col Ofl & Gas vtc 68 Cmwith Edison (8). ho. Cmwlth & Sou war.. 170 Com Wat Ser g12% Comstock Tunnel. . Consol Auto Murch‘ . Consol Copper. Consol Dairy Prod. .. Con Gas Balto (3.60) Consol Gas Ut A 2.20 i Contl GEE prpf (1). 508 nt Shares conv pf. 2755 nt Shares pt (B).. 508 Cord Corp...o...nsn 130 Corp Sec Ch (b6%).. Corroon & Reynold: Cosden Ol. .. Creole Petroleum 4 Cresson Consol (4c). 4 5 1 5 1 2 5 11 5 4 1 undred-s| d by !hl Illhr s (80s) (2508), in odd lots. Sales— Add 00. Open. High. Low. Close . 1 9% W 9% 73 16% Aluminum Co of Am 19005114 1 99% 65 -share 1ot L) 17% % 5y Y Magpds Mapes Gas Long Island l.l !Goe) Los Ang G&E pf (6) - 408 Louisiana Lan & Ex. MacMarr Stores (1). Mass Util Assoc. Mavis Bottling (A). Mead Johnson (14).. Mer & Mg SA (1%). ta Machine Met Chain Stor: Mid Sts Pet vte A 23c Mid WSt Ut (1%).. Mid West Ut (b8% ). % M Mohawk Hud 1st (7) 50s Mont Lt H&P (1%). 1268 Moss Gold Mines. 1 4 Mountain Prod (1) American Co. Received by Private Wire Direct to The Star Office Low. Close. 31 31 u o % by 28 15 16 30 31 110% 110% 110% G, 6% 6% 6% & 38% 2).. 56 5 1 Nat Family Nat Fuel Gt Nat Investors. . Nat Pow & Lt pf (6). Nat Service Co..... Nat S T Sec A ($500) Nat Transit (1)..... Nat Union Radlo. . Nelisner Bros pf (1). 268 New Brad Ol (28¢).. New Eng T& T (8)..5008 New Mex & Ar Land. ‘mont Min (4 N ¥ Tel pf (6%) 5 Mu Sh Md (40¢)... \nml Elec Cp(400). Nor Am Aviat A war Nor Europ Gil Corp.. Nor St Pow A (8)... Nor,St Po Northw Yeast Co 12) Ohto Copper. Ollstocks Ltd A (40¢) Outboard Mot A. Overseas Sec... PacG&E1stpfl Pac Pub Svc A(1.3 Pan Am AIrways. Pandem Oil. ..... Paramount Gab Mfg. Parke Davis (11.55). Parker Rust Pr (3).. Pennroad Corp (20¢) Peop L& P A (2.40).. Perryman Electric. . Phoenix Secur Corp. Phoenix S C pf (3) Pliot Rad Tube A. Pitney B P n (20e).. Pittsbgh&L E(110).. Bo. Plymouth Ol (1).... % Polymet Mfg. .. Powdrell & Alex 3% Producers Roy Corp. Prudential Inves Pub Utll Hold war.. Pub Util Hold Cp xw Railroad Shares(40¢c) Relter-Foster. . Reliance Int Reybarn Co. .. Roan Antelope . Roosevelt Field Inc.. Rossia Intl Cp (10c). pf(6). FINANCI BONDS CALLED IN MAY iRECOVERY IN STOCK PRICES - WAITS ON BETTER TRADE NEWS Long Decline in Securities Values May Be Temporarily Checked by Market Fac- fors—Banking Support p_qssible. IN SHARP INCREASE| Special Dispatch to The NEW YORK, June l—Bondl called in whole or part in May, totaled $103,- 762,189, a value far In excess of the $37,439,081 in May, 1930, and substan- tially larger than the $51,503,802 of May, 1929, according to the Standard Statistics Co. of New York. The num- ber of issues varied less widely—91 last month, 82 in May, 1930, and 90 in May, 1929. Over $72,000,000 of last month’s calls were in the utilities di- vision, Industrials accounted for more than $13,000,000, and real estate, $13,~ figures covering calls for the first five months of 1929, 1930 and 1931, are given below: First five months. Industrial . e 4 a 191136.878 213 399,121 0731428 4.1 73,040 Grain Market By the Assoctated Press. CHICAGO, June Q—Spreldlnin op- eratfons that consisted of purchasing of wheat against selling of corn led to material upturns in wheat prices to- day. There was also buying of wheat cn account of strength of securities and on drought complaints from a wide area in Canada and parts of the American Northwest. Canadian crop report to be issued Sat- urday was expected to make the poorest showing ever known at this time of the year. Wheflt closed firm, 14a2 cents hllh!l’ corn, Yzal%s up, and oats, ':a vance. Provisions rallied sharply um closed at 15 to 27 gain. WHEAT—- Hij June o July September De-ember CORN— July Septemb December OATS - quly ... Beptember December RYE— July 5 September December New York Cotton Special Dispatch to The Star. recovery occurred, with an advance $1 a bale in the cotton market today, and this left final prices 18 to 22 points higher than on Wednesday. The recovery of the stock mprket stimulated more’ active outside buying than for some time and the market closed not far from the best levels of the day. Spots were advanced 20 points to 8.60. Cotton renge: Hij [ 9. 9 An_authoritative unofficial | 53 2 |demand from investors, NEW YORK, July 4.—Another s!ur?‘ Ol BY CHARLES F. SPEARE. Special Dispatch to The 8t NEW YORK, June 4.—The question every one is asking these days, in Wal street and out of Wall street, is when will the decline is the stock market terminate? Without attempting to as- sume the role of a prophet, it may be 'lnul'efllnl to list the possibilities, leav- ing to each individual reader to make his own deductions. In the first place, the downward movement may be checked by the de: velopment of as oversold position, what the Street likes to call the technical condition. Obviously, every one cannot make money indefinitely by selling stocks that do not belong to them. When a market looks as inviting to short commitments as the present one does, sooner or later there comes a time when there is a rush to cover and a sharp rally ensues. Banking Support Possible. Secondly, it is conceivable that at some point during the decline strong banking support may appear. To allow a market to sink continuously for three months might involve such serious con- juences that important interests would step in and take stocks in suffi- clent amount to dy the list. A third possibility is that the liquida- tion will dry up of its own accord. The selling today represents more than any- thing else the discouragement of real holders of stocks. They have seen the market go steadily lower until they are persuaded that the only way to pre- serve a part of their principal is to turn their holdings into cash. This is a stage of mind hard to combat, much more “difficult to control than the panicky selling of a disorganized mob of speculators. Nevertheless this atti- ; tude, too, changes eventually. Then it may come to pass that the attracted by the low price level, will overbalance the supply of timid sellers. There is al- .| ways a certain amount of buying for cash and taking of certificates out of the Street. That is going on today, but the sum total of this buying is not yet sufficient to influence prices. Bearish Rumors. Fifth, and this is a favorite idea with professional traders, there may be something “overhanging the market” which, when brought to light, will clear up the situation. Such a drastic defla- tion as the present market has experi- enced involves, as a rule, various un- pleasant happenings, which, however, are more influential on prices in pros: pect than in realization. It is only fair to say that most of the rumors along this line are manifestly born of the market and without foundation in fact. Now all of these suggestions fail to 0 to the root of the matter. Any of l.he things listed might take place and check the decline or bring a partial recovery, but it would be only tem- porary. The market will enjoy sus- tained advance when and if business recovers. Perhaps it would be more accurate to say the market will re- pond when the speculative community cnnvlm:ed that business is recover- look!n[ back over the record, we find that bear markets often keep on de- clining for months after there has been a turn in trade. The market did not recognize the turn or it had too much momentum to reverse itself. That was the case in 1921, when business began to revive in the Spring and the mar- ket reached its low in August. There are signs cI better business now, but they are in quarters which do not im- press the speculative jmagination. In iextiles, in shoes and in the trade of certaln chain store systems catering to buyers of low cost goods there has been a turn for the better. Indication of Turn. As far as the textiles go. m:mlhcv turers and distributors have been caught unprepared for an increase in customer demand. This is always the sequel to a long d-pression, production lis off eventually demand overtakes supply. It does not necessarily spell immediate profits for the producer but it does in- dicat> a turn in the tide. Now Wall Street will not be reassured until this State of things spreads to what it calls the key industries. This revival must be transiated into increased car loadings and into a higher rate of operation in the steel mills. When that develops, the market will havs a per- manent upward tyrn. Textiles have been depressed for years and securities representative of the trade have no important speculative following. Con- to respond than the share list, but the two have been moving together in re- cent months, excepting only the gilt- edg:d class of fysed interest rate bearing obligations, and it would not be surpris- ing if both markets should reverse themselves simultaneously. In any event it is trade revival and revival in quar- t:rs to which Wall Street looks for lead- ership that will mark the end of this bear market. iCopyright. 1931.) FARM TRUCK LICENSES IN VIRGINIA DEMANDED: 2 Recent Supreme Court Ruling De- clares Exemption of 15,000 Haulers Illegal. Washington Produce | Butter—One-pound prints, 29; tub, 28. | Eggs—Hennery, 18'2a21; current re- | ceipts, 17a18. Poultry, alive—Turkeys, 20; Spring more rapidly than consumption and, o ivably the bond market will be quicker | AL. Arkans P & L 55 '56. Y i Ao l‘l?c fnd u’,s e ’z'é‘xi k] k- s LE 5105 48 in et ! 5 1Cent 8t i 1 Gl é’.*%,’ g legit 198l Berv Gus s 5 Intersta Power s 13 Intersta Pb 8 41,5 ' 1Towa Neb L&P 55 '57 957 6Jer C P&L 5.5 A '45 103 1{er Cen et ss B 'o 1Mer Edis 48 Tx 3 Mid West U 85 34 ¢v 4 55 B CHICAGO STOCK MARKET CHICAGO, June 4.—Foilowing is the complete official list of transactions in !'.ocks on the Chicago Stock ixchange EXPORT TOBACCO CO TRADE HAS CONTINUED STEADY By the Associated Press. Royalty Corp pf. . 10 Narragansett S5 St Regis Paper (1).. 4 MR 8 2 Salt Creek Pro(1.40). Saxet Co..... : Seaboard Utll (50¢) Seeman Bros (3). Segal L & H (a30c). Special Dispatch to The Btar. | brotlers, colored, 35a37; Leghorn broil- RICHMOND, Va, June I—MCCIII‘E'S 25a28; hens, colored, 23a24; Leg- Frazier, director of the State division | horns,~17; roosters, 12al4; ducks, 15; | of motor vehicles, announces that he | 4 will recommend elimination df for hire | K®ats, young, 70a80; old, 40. Dressed— truck license exemptions now enjoyed vSprlnl broilers, colored, 38a42; Leg- Crocker Wheeler Crowley Milner ( Cuneo Press (2%)... Dayton Alr & Eng... Deere & Co (1.20).... De Forest Radio. San mparmneee N » “h High. Lox, Cloas. g 379 37% 200 Am 30 Am Fub Ser pi.- 50 Am 100 Art _Met: 1300 Artoc el il 200 Bastian-Blessing 1400 Bendix _Aviation 4400 Bors-Warner 00 Borg-Wer pf.. 200 Bortn ' Vivitonc R 2750 Bruce (E. L.) 300 Butler | Bros I pub ' 8er ot wsoCem i) 2 S 250 C 16350 Cord 4850 Corp 300 Gorp_Sec_cti! flm Hart Carter pf 300 Houduie tter” & 1830 Houduille-Her B! 500 11l Brick 190 Jeflerson Elc " s200 Stoveé Switch 50 Moha ub 10 Monroe Chem bi usk Mot Spec, A1l zsu Nu Secur Inv'. Secur Inv 22832V 20 Pub Serv 10 Pub Serv 7% Do neSte B8 a5 50 Vikings Pump 200 Vortex Cup oy Sa3-BEetens 23 oo Bond sales t BALTIMORE STOCKS. Special Dispatch to The Star. BALTIMORE, June 4.— Bales. STOCKS. 255 Arundel Corporation . 30 Baltimore Trust 10 Black & Decker pfd 8" “relephone Balic | 77 Consolidated Gas_ cf erson Bromn-!enur A com lelity & Deposit Co. 18 Houston Oil pfd. ... 332 Manufacturern Fin ylang Casualty Co. 65 Maryland Trust .- 78 New Amsterdam Ci Last Sale. 10 8°E Macins & Guaranty. BONDS. %Unlled Rwy & Elec 6s 1940 United Ry & Elec fdg 5s. W B & A Railway lst 8s. ‘The bodies of seven murderers, exe- cuted between 1878 and 1914, have been exhumed in Northampton (Englaad) Prison, now being demolished, sz ze- buried in the municipal Zuneiery, Y Detroit Atrcraft Cp. . De Vilbiss Co pf (7). Douglas Afr (11%).. Driver Harris new. . Dubilier Cond & Rad. % Duquesne Gas Corp.. Durant Motors % Duval Tex Sul East G & F Assoc. st St Pow B (1)... Sast Util Assoc (2).. Sast Util Assoc ev. . st Util Inv A... ison Bros Strs 7sc. Etsler Electric Corp. Elec Bond & Sh (b6) . Elec B & Sh pf (6). ., Elec Pow Assoc (1). 7 Elec Pow Asso A (1) Elec P & Lt op war » = N BovharmuRalo v8oamrons - ~3a Emp Steel Corp..... Europ Elec deb rts Evans Wallow Lead. Fafrchild Aviation &« Fajardo Sugar. Ferro Enamel (A Fiat rets (94%¢) 4 Fire Asso Phila 1. Florida P & L pt (7). Ford M Can A (1.20). Ford Mot Can B 1.20, 258 Ford Mot Fran 371 2 Ford Mot Ltd 36 3-bc 82 Foremost Fabrics. Fox Theater Cl A Garlock Pkg (1.20).. Gen Alloys. E Gen Aviation. Gen Elec Ltd (p70¢). Gen G&E cv pf B (§) 50| Gen Petroleum. ..... Gen The Eq cv pf(3). ZK Glen Alden Coal (4).. Goldman Sach T C... Gold Seal Elec new.. Gorham Inc pf (3) Goth Knitback Mch. . Gramaphne rets(pl). Graymur Corp (1)... Gulf Ollof Pa (1%). Hamilton Gas rets. .. Happiness Candy. ... Hazeltine Corp (2).. % Hecla Mining (40c). Hires (CE) A (2). Hollinger Gold(65¢) . Hudson Bay M&S .. Humble Ol (12%). s Hygrade Food Prod. Imp Chem Ind(p40c) 1mp Ofl of Can (50¢) Indiana Pipe Line(1) Insull Inv (b6%).... 4 Insurance Sec (70c). Interlake Steamship. Int Cigar Mach (2%) i Intercontinent Fetn. Int Petroleum (1)... Int Superp (11.10) 4 Int Utilities B. ll 2 2 u Irving A Chute war.. Liallan Superpow A. 1 Foremost Dalry Pr. wen. 6% 1% & wm nllll DA PSR stock, stock. 11 3% 3% Sle Ind prior (5%4). 81, 1Ind full pd (5%). Shenandoah Corp. Shen Corp pf (a3). .. Sherwin Wil (1434).. 4 Signature Hosier; Silica Gel ctfs So Am Gold & Plat.. South Penn O1l (1)..: SouthCEdpt B1%. SouthernNat Gas SWG&EDL (7). Spleg May Stern pf..125s Stand Oll of Ind (2).. 119 Stand Ofl of Ky 1.60.. Starrett Corp. ... Starrett Corp pf (3). Stromberg-Carl(1%) Stutz Motor Car Sunray Oil (b5% Swift & Co (2).. Swift Internat (3).,: ‘Tampa Electric (32). Technicolor, Inc. . Teck Hughes (60c) . Texon Ofl&Land (1) Tran Con Alr Trai ‘Trans Lux DL P viden or stock: us 5% in stock. Plus 2% in stock. kPlus stock.” m Plu APl 8% in sock. b PaE Iast YEAT R0 TeRuIAr Tate: o e AN RN AR AN ER R A DN A RO A A B a 21 o Tri Utilities (1.20).. Tubise Cantilion (B) Ungerte! Un Nat Gas Can (1) Un Tobacco. Unit Gas pf (7). Unit Lt &Pwr A (1), Unit Lt&Pwr(B) (1) Unit Lt& Pwr pf (6). Unit Profit Sharing US Dairy (B)..... U S Elec Power ww U S Foll (B) (50c). US & Inl Secur..... U S Inter Sec 1st pf. U S Lines of ( " U'S Radio & Televisn Unit Store = Unit Verde Ext (3). Utlca G & EL pf (7).. 258 % Util PALt(at1.02%). Ut PAL B(at1.02%). Ut & Ind.ceuuveeas Util & Ind pf (1%).. Utility Equities..... Vacuum Ol (2) Van Camp Pkg. Vic Finan Corp( Waitt & Bond(A)(2). Walker (H) (50¢) Wil-Low Cafaterias “Y” Oll & Ga Youkon Gold. 39 3 4 5 1 343 3 ) 1 2 1 3 2 & %) 20! 85% n last quarteriy or semi-an- Fartly extrac Thius 4% in SLOCK, b Payable in’ stock. e Adjustment SFlus 6% in stock. hElus 1% in NEW YORK, June 4.—Brokers’ let- ters today viewed the stock market rally as of technical origin, and most observers preferred to wait before ven- turning an opinion on its durability. Comments follow: Redmond & Co.—It is still too early { to determine whether the rally maks a definite turning point in the market. So far as we can observe, there has been no fundamental change for the better in business. Of course, the in se- curities, if sustained, may improve business sentiment, but for the moment we would regard it solely as a technical recovery. There is as yet no definite assurance that necessitous liquidation has bsen completed, and there is h bad news still ahead of us during the next few weeks to prevent a runaway market on the upside. Hornblower & Weeks.—We feel that immediate cause of the rally was the market's technically oversold condition plus the fact that the leading banks announced such a definitely construc- tive attitude on their loan requirements. Yet we are inclined to feel that the turn-about has taken place and that a rally of some reasonable duration is in prospect. Shields 2.C0.—The market's rally is more than warranted on technical grounds alone, The Malance of the \ week is free 6f any important meetings that might bring bad news, so that with aggressive leadership further advance can be scored. Jackson Bros., Boesel & Co.—Follow- ing continuous steady liquidation a rally of fair proportions would seem in order before any real prom taking develops. ‘Winthrop, Mlphell & Co.—We look for the present rally to carry further, but are not yet ocenvinced t all liquidation is ended. Yesterda ket was decidedly encouraging, but a little more time will be necessary for the market itself to prove that anything more than & temporary change has been recorded. the rise is just about what one might expect in a sharp automatic technical Tecovery. we are going back to a slow liquidating market or whether prices will show a back and forth in a eventually another 5 points advance in the next two or three weeks cancellation of the main bear market. Gordon Murder Trial Delayed. NEW YORK, June 4 (P).—Harry Stein and Samuel Greenberg were called for trial today for the murder of Vivian Gordon, but the case was adjourned until Mondag. S E. F. Hutton & Co.—The extent of | Ci MILLWORK RESUMED. NEW YORK, June 4 (#)—One hun- dred men have returned to work at the New Castle, Pa., plant of the Lehigh Portland Cement Co. after the usual ‘Winter suspension of operations. Or- ders held by the company will permit operations for several months. —_—— SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co) Bid. Ofl.l Allis-Chalmers 8¢ 1 115 The question now is whether | Chil s | Yous ‘weeks without in | Mate nnyny:unutln;bymmwfinn- nn % i | 5ol The Commerce Department reported export trade in leaf tobacco has been well maintained during the first four months of 1931, particularly in view of the depressed ccnditions prevailing in foreign markets. Total leaf exports during the period o |have amounted to more than 184,000,000 pounds, a decrease of 8 per cent in com- parison with the total of 201,000,000 cunds in the corresponding period of f t year, but a gain of 12 per cent over the total of 164,800,000 in 1929. A notable feature of the trade was the increase in exports of stems, trimmings and scraps. More than 9,000,000 pounds of this commodity were shipped out of the country during the four months, a quantity equal to twice the exports dur- ing & similar period of last year. The export price amounted to 6 cents per pound, & gain of nearly 2 cents over last year, China was the principal buyer, taking more than 80 per cent of the total. COAL PRODUCTION DROPS. By the Associated Press. Production of bituminous coal de- creased 2.2 per cent during the week ended May 23, as compared with the previous week. The total output for comparable pe- riod,;s as calculated by the Bureau of Mines, follows: ‘Week ended May 23, 6,637,000 tons. Previous week, 6,783,000 tons. Same week last year, 8,272,000 tons. DIVIDENDS DECLARED NEW YORK, June 4 (#).— Extra. - Hidrs. of s0° Jecord, 30" June 3 Jine Jne Pe- Pi Company. Rate. riod. 50 Jul June 13 June 13 May 29 Tide Wellington Ol June 15 Omitted. 3150 Q S0c Q Am Ogar pf.. July 1 Florence Stove Due June 1 Alby L8 4.50 8 P -rnyA Busa BR. -8 50 Jine® June June 2 Boston Per Prop T Bucyrus-Monigha; June 20 June 20 June 12 June 19 May 31 June 20 June 20 June 20 June 20 June 2 1R June 10 © WOOOOOD POO p D P OO & o ilbert 37%e Eyer-Ready 80'(G ) Am dp reia 6 May 15 general Mills’ June 1§ a ty Tru: June 8 June 12 June 20 July 12 June 20 June 20 June 10 June 12 June 1 June 15 July 1 July 15 June 30 S5as Faa June June 15 May: 20 June 18 une June 1 y 29 Bafs 0 Dwbd m DOOOOOOOOLPOD Rom O O O PO o ance Shaw Wat Slecal Rov June 1 June 10 May 11 c tow ibe 31 Jul; 'x;:lnfi’ ‘muml/." clu:o ne 1 .vun- 11 Jun g y Q §a xug June 13 1,792 sutomobiles June 18 | U8 by more than 15.000 haulers of farm | and dairy products, as & result of the recent decision of the United States Supreme Court in & Florida case in which such exemptions were held to be unconstitutional. He will make his recommendation to Gov. Pollard who is expected to ask the next general as- sembly to emend the law 5o that it may comply with the ruling of the Supreme Court. “There 1s nothing else to do except to | eliminate exemptions in the case u( the | decision in the Florida case,” said Prazier, in commenting upon the effect | of the decision on the Virginia law. “The opinion makes & part of our act | plainly invalid, and if the assembly does not. correct. the trouble pursuant to the Supreme Court’s ruling, the courts will make what may prove to be a much less satisfactory amendment.” In the act under which license fees, | aggregating nearly $6,000.000 per vear, are levied by the commonwealth is the following alleged illegal proviso: “Noth- | ing in this section shall prohibit or in- | iterfere with carriers engaged in the transportation of farm and dalry pro- | ducts exclusively.” WASHINGTON'S CHURCH _ PLANS COLONIAL VESTRY House Will Be Built on Plans Drawn by First President Prior to Revolution. Special Dispatch to The Bt POHICK, Va., Jupe 4—Definite plans for erection of & vestry house for Pohick Chllrch, closely following plans origi- nally drawn by George Washington and George Mason, wardens in 1770, will be mapped out tonight at & meeting of the Finance and Building Committees, ap- pointed last week by the vestry. Edmund H. Allen, E. Russell White and L. I. Dolph compose the Finance Committee and Dr. C. Lee Starkweather, Herbert Haar and Herbert Baker. jr. the Building Committee. They will be assisted by Senior Warden John W. Brnckfleld sr, and W. Frank Nevitt, ior warden. ‘This bullding has been several times rro jected. The church was completed 1773 and the vestry house was post- poned then because of the unrest of Revomuomry days. [Each time the project has been revlved it has been necessary to defer the start until more favorable conditions should prevail. Much of the cost of the present build- ing will be met from the free-will offer- ings left by the thousands ef tourists who each year visit this home church of George Washington, said by archi- tects to be one of the best examples of colonial architecture in the United States. MISSIONARY’S PROBLEMS ARE DETAILED BY BISHOP | Special Dispatch to The Star. WINCHESTER, Va., June 4.—Prob- lems of the foreign missionary were detailed at a mass meeting here last night by Bishog' of the Methodist Episcopal Church South on a visit to the home of his father, the late Rev. Dr. John A. Kern, for the first time since his ele- vation to the episcopacy. Bishop Kern had just returned from the Orient. His episcopal district includes China, leln. Korea and the Siberian Mission, juarters at Shanghai. He was ler of Travis Park Church, San Antonio, Tex., when elected bishop lt the General Conference in Dallas in May, 1930. He is a native of Alexan- , Va. Kern been sum- hl.l to further the interests of the Board ln of Ml‘;fl:mmmd;he United States and probal yw address many ks Southern Meth- e AT Stroke Fatal to Farmer. WINCHESTER, Va., June 4 (Spe- clal).—Charles Matthew Boyce, 83, re- esterday at his home County after an fllness ptnlym He i B:urvlveddmtv twnd.wnfi. Lee and Harry Boyce, and two daugh- ters, Misses Lula and Lillie Boyce, this county, and ens » James va previous de of | fixing June 13 as the time limit. horns, 25237; hens, 24a26; Leghorns, 18; roosters, 16; keats, young, 70a80; old, 40. Meats—2eef, 12a13!2; veal, 11a13; ‘llmb, ‘Western, 18; Spring, 22; pork loins, 18; fresh hams, 17'3: fresh shoul- ders, 12; smoked hams, 18!;; smoked shoulders, 12; strip bacon, 21; lard, in bulk, 10; packages, 11. Live Stock—Hogs, heavy, 5.50a6.00; medium and light, 6.25a6,50; pigs. 6.00a 6.50; loughs, 3.00a4.50; calves, 4.00a8.00; | Spring lambs, 6.5089.50. Fruits—Strawberries, 3.00a6.00; black- berries, 5.00a6.50; oranges, 4.00; lemons, .50a5. 00; gra] | Rloupes, Jumbos, 245:” standards, 3.00; 2.50; flnlsfl 1.25a1.50; rhubarb, .00. Vegetables—Potatces, new per barrel, {300a350; old, 120-pound sacks, 2.00a .25; sweets, per bushel, 1.75; string beans, 1.25; peas, 1.25; tomatoes, 6-pan crates, 2.00a3.00; lugs, 90a1.25; kale, 35a 40; spinach, 35a40; eggplant. 4.50; cu- cumbers, per bushel, 2.00a2.50; squash, 1.5082.00; beets. per 100 bunches, 4.00; carrots, per 100 bunches, 4.00; lima | beans, 3.50a5.00; Spring onions, per 100 bunches, 2.00; radishes, per 100 bunches, 2.00; asparagus, 2.00a3.00; mushrooms, 50a1.00; Bermuda onions, 50-pound | sacks, 15 C. E. MARLATT DEFEATS HARPERS FERRY MAYOR H. C. Vorhees Elected at Bolivar | Without Opposition as Few Votes Are Cast. | Special Dispatch to The Star. HARPERS FERRY, W. Va. June 4. | —Charles E. Marlatt, former mayor, | heading a citizens’ ticket, was elected mayor of Harpers Ferry Tuesday by a majority of 29 votes over James M. Ranson, present incumbent, heading a municipal ticket. J. J. Faherty, running on both tickets, was re-elected recorder. Councilmen named were: Garland Delawder, E. D. Nichols of the muni- cipal ticket. and W. A. Walsh, E. S. Cotts and W. E. Beck of the citizens’ ticket. In the adjoining town of Boliver, H. ©. Voorhees was elected mayor without opposition, succeeding Paul H. Cleven- ger. Only 16 votes were cast. The entire present council was re-elected. HARPERS FERRY SCHOOL GIVES DIPLOMAS TO 15 Girl Graduate Is Awarded Medal by 8. A. R. for Good Citizenship. | Specta™Dispatci to The Star. HARPERS FERRY, W. Va, June 4. —The seventeenth annual commence- ment _exercises for Harpers Ferry High School were held in the school gym- nasium Monday night, with the address to the graduates by Dr. D. E. Phillips of Shepherd College, Shepherdstown, Paul Bentley Kern | W, . Va. | The class of 15 follows: Austin Bow- ers, Pred Potts, Katherine Smallwood, Virginia Earman, Jean Cronise, Mary De Lawder, Louise Edwards, Abner Hockensmith, Nellie uncmer, Cecil Link, Richard Naill, Grace Mildred Trundle, Ethel Wise nnd dred Wise. A gold medal, offered by the Na- Mnnl.l Sons of the American Revolution for good citizenship, was won by Vir- ginia Earman. . RAIL SALE DELAYED . & 0. Gets 30 More Days to Sell ‘Western Maryland. ‘The Interstate Commerce Commis- "Fhe order amended a c_;:e day's order said this was an érror | computing a six-month period. AR S In 8 recent month Japan imported i over $20,000,000 Worth of raw gotton, & Nor Stat ‘Bow 51.¢ ‘40 58 Nor Sta! Pow 1123 ‘81 pirs “Edison 58 2000 Pow 21 2 Ohio Pow 55 B '52 19 Okla Gas & EI 85 * 2 Pacific GAE 3Pac G & & 11 Peun Elec ‘4s 95 4Penn O'Ed 5135 B '59 10115 3 Penn O Fd 6s '50 xw 103 n Penn PaL 412 ‘81 wi 97 7Pot Edis 4'2s F '61 wi 97 3 Potomac Ed 85 E 56 103! S’ No 98 5 Waldorf-Astor_7s '54 14 Warren Bros 6s '41 1 West News Del 6 5 Wes Tex Ut 5s A '57 roRl:mN 'BONDS. 1Agr Mtg Bank 7 34 Agr Mig Bank Sauda P Ltd n A H '85 10 6 Stinnes 73 36 ww—Wi W Without warreats, S When tssued. POTATO MARKET. CHICAGO, June 4 (#) (United faces Department of Agriculture) —Potsoes— Receipts, 46 cars; on track, 19/ United States nhl:unent 1,217 oTS; new stock, s trading only fas_ sacked Louisiana Bliss Triumphs, 1.5011.60; fancy, 1.65a1.70; heated #d poerly graded, 1.40a1.45; Texas-Alyama, 1.50a 1.60; ungraded, 1.40; old , firm on Russets, dull an_other k. trading lu'h" Idaho Ru.urts @1.60. Austris has just I'-lxol nm mlnflmn