Evening Star Newspaper, June 12, 1931, Page 15

FINANCIAL THE EVENING STAR, WASHINGTO CURB STOCKS FIRW | [NEW YORK CURB MARKE IN LATE DEALINGS, Late Rally Laid to Short] Covering—Utilities Are Active. BY JOHN A. CRO! Boecial Dis to The §! NEW YORK, June 12—The curb market turned strong in the last half hour today after a day of dull trading, | in which prices for the most part| showed small net losses on the day. | The late rally was obviously short! gl covering by those reluctant to remain | 8% commitled to the downturn overnight, £ just as the morning selling was largely 1% profit taking by disappointed specula- | b tors for the advance. | Issues such as American Gas & Elec- | tric, Electric Bond & Share, Vacuum | Oil ‘and Cities Service were most active 4n the late recovery. The opening was irregular, with a! small volume of trading. i The market was affected by a num- | ber of poor earnings reports and by the | gloomy outlook in the foreign situation. Nevertheless there was hardly any or- ganized liquidation and prices drifted lower as a result of the removal of bids ®nd on realizing by speculators disap- pointed at the failurs of the market to Yesume its recent recovery. Electric Bond & Share sold off frac- tionally after making up most-of its opening loss, but it was significant that | the stock met support each time it dipped around 34, or about 3 points mbove its previous low of the year ‘American Gas & Electric was fairly ac- tive selling at lower prices, Other losses occurred in Associated Gas & Electric A, American Commonwealths Power A and B, American Superpower, Brazilian Traction, Central Stat:s Elec- | ‘tric. Commonwealth Edison, Niagara } Hudson Power and Utllities Power & Light. United, Light & Traction A was gractionally higher at midday. Stock ana Dividend R Affiliated Prod 1.60.. 1 Agfa ABSCO........ Aluminum Co of Am Alum Ltd A war Am Br B £d shar Am Cigar Co..... Am Cit P&L(A) (n3 Am Cit PAL B b10%. Am Com P A (b10%) Am Com Pr B(b10%) American Corp(i5c). Am Cyanamid B. ... Am Dejt Store: Am Equities. Am Kor Pow war. Am Founders. ... Am Gas & Elec (11). ‘Am Maize Prod (2)+ Am Maracatbo. . Am Natural Gas Am Superpow (40c). Am Superp 18t (6).. Am Util&Gen (B)vto Anglo Chil Nitrate. . Appalachian Gas. Arkansas Nat Gas Arkans Nat Gas A Asso Gas&El A (a2). Assoc G & E pf (5).. Assoc G & El war. .. Atlas Plywood (2)., Atlas ULl Corp. ... . Aviation Securities. . Bell Tel of Can (8).. Beneficial 1L (1%4) Bigelow-Sanford. Siue Ridge Corp. . Blue Ridge cv pf a3 Braz Tr & Lt (b8%). Brill Corp A (34c) Bulova cv pf (3%).. Burco Inc cv pf (3). Canada Marcont Carib Syndicate Carreras Lid ( Cent Pub Cent Stat Cent StE cv pfn a6, Chain Store Devel Charis Corp«13). Chat Ph Aln.v. (1).. City Mach&Tool 80c. Citles Service (£30¢) Cities Serv pt (6)... lev EI Illum (1.60) .. Clev Tractor (80¢c).. Colts Pat Fire A 1%. Col O11 & Gas vtc. Cmwlth Edison (8) Cmwlth & Sou war.. Com Wat Ser g12%4¢ Consol Dairy Prod. .. Con Gas Balto (3.60). Cont Shares pt (B). Cont Shares conv pt.100; Cooper Bess pf A(3). Cord Corp. ... . Curtiss Wright war. Deere & Co (1.20).. De Forest Radlo Dictaphone Corp( Dow Chemical (2) Driver Harris new. . Duquesne Gas Corp Durant Motors. .. st Util Assoc ev. . on Bros St (50¢) Eisler Electric Corp. ec Bond & Sh (b6) lec B & Shcupf5.. lec B & Sh pf (6).. Elec Pow Assoc (1). Elec Pow Asso A (1) Elec P & Lt op war.. 1 Sharehold (b6%). smp Corporation. Empire Pub Sve (A). Evans Wallow Lead. Federated Metals. ... Kord M Can A (1.20) Ford Mot Can B 1.20. Ford Mot Ltd 36 3-5¢ Foremost Fabrics Fox Theater Cl1 A. Gen Alloys..... Gen Aviation E Gen G&E cv pf B (6 Gen Thea Eq ev nf | Gen Tire & Rub (3). A58 29 Glen Alden Coul (4). Globe Underwr (15( / Goldman Sach T C. . Gt At&Pac Tea nvi(§) Groc Strs Prod vic. . Gulf Ofl of Pa (13%). 4 Hamiiton Gas rets Happiness Candy . .. Hudson Bay M&S . Humble O1l (t2%).. Hygrade Food Prod. Imp Chem Ind(p40c) tmp Uil of Can (50c) Insull Inv (b6%).... Insurance Sec (10¢). Intercontinent Fetn. Int Petroleum (1)... Int Utilitles A (33%). 4 Int Utilities B...... Irving Air Chute (1) Kings € L cum pf D3 Kolster-Br (Am Sh). Leonard Ofl........ Lone Star Gas n88c. 5 1 MacMarr Stores (1). Magdalena Synd. ... Sales— Low. 1% 5 90 17 2% 5314 31t 5% 101 17 3% 6'x 1% an 11 2% 4814 21 ¥ S 4 508 1 4 3% 3 154 647n b3 (31 374 10% 130 CURRENT INVESTMENT OPPORTUNITIES PRAISED Bpecial Dispatch to The Star NEW YORK June 12—Citing the heavy oversubscription of the $800,000,~ 000 United States Government 3's per cent loan as evidence of a large surpius for_funds seeking investment, Thomas J. Watson, president and general man- ager of the International Business Ma- chines Corporation, urged upon the New York section of the Financial Adver- tisers' Association at a luncheon meet- dng the importance at this time of con- veying to the public a realization of current investment opportunities. “What attracted applications of more than $5,000,000,000 for the Govern- ment’s bonds?” Mr. Watson askad. “It was not the rate certainly, for far high- er returns are available was confidence in the securi Speaking to you toward the end of this depression we are going through— and in my judgment we are near the end—things gencrally are showing some improvement “It would help tremendously if the financial advertising profession could devise a plan for presentation to the financial institutions of the country for placing before the public the inve ment opporiunities which exist today Mr.Watson declared that never in his life had there been a greater oppor- tunity for financial advertising than at present. Financial advertising, he said is the most important kind of advertis inz, because it deals with the most im portant commodity. Financial advertising, in Mr. Watson's opinion, should lay considerable em- | phasis on education, extending not | merely to savings and investment, but embracing spending as well. This edu- ceticnal work would be continuous, for each year a new group of young men and women requiring financial educa- | tion come up into the business world. « NEW CONSTRUCTiON. NEW.YORK, June 12 (4).—New con- struction contracts awarded in the ter- ritory east of the Rocky Mountains dur- ,ing May amounted to $306,079,100, com- pared with $457.416.000 in the like menth last year, F. W. Dodge Corpora. tion reports. CHICAGO STOCK MARKET he Associated Press CHICAGO, June 12—Following is the complete official list of transactions » & 5 o B .8 Ern a ST rn n BT S e E o P N Lt 8 [SEAPREI oY Note—All stocks are sold In one hundred-share lots excepting those designated by the letter s (80s) (2508), which shows those stocks were sold in odd lots. Add 00. Open. High. ~Prev. 1931 Low. 1% Mavis 8 76 24% 1% . Low. Close 1% 17% 17% 9 9 Mesta Met Ch 1% 9 12 17 Mid St Mid St Mid W Alid W, Moore Niag S| Nor St Nor St Parker Penn People Philip Philip Phoen. Pitney Pub Ut Seiberl Signaty So Am So Cal Stand I Starret Sunray Taggar! T Teck H Trl Uth Un Nat Unit Ch; Unit Co Unit Lt Unit She U S Foi Dividend Rate. Paramount Cab Mfg. Silica Gel ctt: Smith (A 0) (2 Stock and Sales— Add 00. Open, High. Bottling (A) 6 2% 24 25 Mayflower Asso (2).. May Rad & Telev(1). Mead Johnson(t4%) Machine (2). hain Stores, Mich Gas & Oil Corp. s Pet vtc A 22¢ Pet vtc B.... St Ut (1%). est Ut (b8%). Mo-Kan Pipe L (A). Mohawk Hud 1st (7)150 Corp Ltd (1). Mountain Prod (1)..; % Nat Bd & 8 Corp (1). Nat Family Stores. .. Nat Pub Sv pf (7)... Nat S T Sec A (350¢) Nat Service Co. . Nat Sugar NJ (2). 4 Nat Transit (1) Nat Union Radlo. New Brad Oil (28¢c) Newmont Min (4) N Y Tel pf (6%). Niag-Hud Pow (40c) Niag-Hud Pow A w.. 2 Niag-Hud Pow B w h Md (40¢) Nipissing Nor Am Av! . NoAmL & P pf (6). Nor Central Texas. .. Nor Europ Gil Corp.. Nor Ind P S pf (7). Pow A (8)... Pow pf (6)... Northw Yeast Co 12) Ohto Copper. ... . Oflstocks Ltd A PacG&E1stpf1%. Pac Pub Sve A(1.30). Pac Tin Cop spec (2) (40¢) 2814 20% 3 614 ti Rust Pr (3).. Pennroad Corp (20¢) *w & Lt pt (6). Penn Pw & Lt pf (7). s Lt&Pwr (A) Perryman Electric. Morris Inc Morris A x Secur Corp. Pllot Rad Tube A, BPn(200).. % Premier Gold (12¢).. Producers Roy Corp. Prudential Invest Pub Util Hold war. Pub Utll Hold Cp xw Hold cu pf(3) Puget Sd P&L pf (6) 30s Reliance Int A. Reliance Manag. Rubberoid Co (4 St Antkony Gold. s Paper (60¢) t alt Creek Pro(1.40). Schulte Un 5c-81 St... Segal L & H (a50c) ing Rubber. Shenandoah Corp. .. Shen Corp pf (a3) ire Hosiery pf Goid & Plat. JdpfA (1% 3 South CEd pf B1%. SouthernNat Gas. Southld Ro Spieg May Stern pt. tand Cap&Seal (2). Ity 60c. redging cv pt Stand O1l of Ind (2).. Stand Oil of Ky 1.60.. 4 Stand Oll Nebr (2).. 715 Stand P & L pf (7). t Corp. Strauss Roth. Of1 (b§ Swift & Co (2).. t Corporation [echnicolor, Ine. ... ughes (60¢). Thermoid Co pf (7) Trans Lux DL P8.. Tri-Cont Corp war. . lities (b20%). Ungerieider Fin Cp Gas Can (1) em pt pf (3) D Wal &Pwr A (1).. oe Mach (2% U S Elec Power ww. 1(B) (50¢c). U'nit Verde Exten (1) Utah P Util & I & Lt pf (7).. pal oy Uti] PRLt(a}1.02%). Ut P&L 10 32 614 10% 100 1 van Tker oil rates *Ex 15 Dividend 165 nual_payment. i % 160 714 | dividend. f Plus 5% oe | ms | stock.” 3 Plus 2% in 4 stock. nPlus 3% in % 61 T R dividend. | & Payable in "cash_or stock B(at1.02%). Vacuum Oil (2). (H) (50¢) I-Low Cafater! & Gas. dollars based on last quarteriy or semi-an- iPartly extra. TPlus in stock. stock. . m Plus 3% stock. p Paid Iast year—no Tegular rate, In stocks on the Chicago Stock Ex- change today: High. Low. Close. 0 g0, 20 9012 3| CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. } NEW YORK, June 12.—The following {15 2 summary of important corporation | news prepared by th» Standard Statis- | tics Co., Inc., New York, for the Asso- | ciated Pres: News Trend. | Copper statistics for May, released to- |day, confirn unfavorable advance esti- 2| mates in showing an incigass in stocks on hand May 31 over April 30. The | month's_increass of 30,746 short tons | brings the total to 398,667 tons, which 29.6 per cent and 30.2 per cent, respec- tively. Buckeye Pipe Line May deliveries, 3,603,257 barrels, against 3,261,887 in April. Power of Baltimore May industrial power sales, excluding power sales to Bethlehem Steel and Baitimore Copper, Smelting & Rolling, o 9.6 per cent five montks, off 9.3; May and five months’ gas sales off 0.5 per cent. Copeland Prodiicts—President states | net profit seven months to May 31 fore {cast to have exceeded results of entire previous fiscal year; cash position im- proved; inventories below year ago. Ediscn PBros. Stcres April quarter common share earnings 61 cents, against 35 conts; had 46 units April 30, against Consolidated Gas, Elcetric Light & | | ferrea ana comon stocks; patd $2 and $3.50, respectively, on January 10. Durham Duplex Razor 1930 $4 pre- | forred share earnings, $1.33, against | s6 Hall (W. F.) Printing first 4 months | net to May 31 above 1930 period. Hamilton Brown Shoe Co.—Receiver- ship expected to be ended soon; assets currently about $4,500,000. including 1,250,000 accounts receivable and | 5460000 cash, |, Mackay Cos April operating income from land lines of Postal Telegraph & | Cable Co., $40,719 against $75,753, four( | months “operating deficit, = $165,6¥ against deficit $230,413. National Railways of Mexico Mach net earnings after expenses off f3.5 ! per cent, three months off 32.3 Per D. C, FRIDAY, JUNE 12, 1931. 1 53 10544 952 &L 3 Asso Elec Ind 41z 19 Ass0 G & E 4125 49 C & EI 58 '50 % 3 P& L 5s 10 Caterpillar Tr 5s o 6 Cen T EL& G 55 151 en 2 Cudahy Pkg 525 10 Dix GG 6'25 A '$7 54 ww Boston 3 1 ;L 55 A 2030 12 Empire O&R 5iys 42 1 Fairbanks Mor ‘55 '42 31 Federal Wat 5'us '54 2 C'M bs 2 Edis 23 Klec P a 65, corgla Power 55 22 Gillette S Raz bs 3Grand P & W 6 3 Hood Rubber 5':5 '36 55 25 Houst L&P 4 inator 6s Ken Utilit 1st 5s 11 Koppers G&C 5s ‘47 7 Kopper G&C 528 1 Kresge 55 '45. . .. 2 50 Laclede Gas 5128 '35 10014 43 Lehigh P S 65 2026 3 Lexington Util 55 '5: 13 Libby ' McN&L_5s '4: 42La P&L 5s '57. 7 Mid West Ut 55 '33 cv 21 Mid West U! 3 50 xw s 81 Wi 9 P 5 & 14 Sun Opdias 3. £ 10014 e Line 55 *40 981 68 91'a 91 w xas Gas Ut 65 ‘45 49 gfexas P & 1, 5s 17 Tri Util 5 5T v ‘3 U Jnion_Guif 2Unit P & L " 5 7. 10004 1 50 103 a3 103 91 15 10074 100'% 10213 102} 102'2 D21 * a0in 28! 13023 1023 1023 590 10312 10314 103} 2 88% B8ly 88 210712 1067 107 Trade Reports at a Glance By the ‘Associated Press. NEW YORK, June 12.—Tablold review of business conditions in the ‘wholesale and jobbing trade, the retail e, and manufacturing and in- dustry, as well as the state of collections, reported to Bradstreet’s this week from the following centers: ‘Wholesale and Jobbing Tra Manufactur- ing and Industry. Quiet Retail ‘Trade. Quiet Fair Quiet Quict Fair Fair Fair Fair Fair Fox Fair Quiet, Quiet Fair COMMENT. AR Pittsburgh—Automotive requirements for steel slackened; 10,0¢" on coal strike. Fetarasd Loulsville—Wholesale hardware fair; industry on part time; cing fair, - Cleveland—Steel at 45 per cent; electrical appliances manifa per cent Detroit—Automobile production decreases; retail trade abov below last year. Milwaukee—Hand-to-mouth buying in all lines; shoe man’ demand for other goods better. S omnt Show Chicago-~Stcel at 40 per cent; wholesaling volume 10 to 7 ; prices off 20 to 25 per cent. . . - St. Louis—Retaflers buying hand-to-mouth, but stocke®: *10¢ manu facturing increased. Minneapolis—Retailers buying cautiously, though st/ sales lighf Collec~ tions. Slow Slow Slow Slow Fair Quiet Fair Slow Slow Slow Slow Slow Slow Fair Crops. Good, Fair Goo/ G Pittsburgh . Louisville Cleveland Detfoit . Milwaukee 5ood Good sturing fair; are low; store St. Paul—Retail trade equal or better than last yearjn Soqus erops. Diluth—Ore production and shipments below no; : Omaha—Cattle receipts heavy: department, store g oiig G0 B et Des Moines—Retail trade aided by “sales”; live § low priced. Kansas City—Cattle prices better, but still weakfs b PIos POOL o Baltimore—More optimism, but no large volur FOUR INSTITUTE BROER LOAN TOTAL MEMBERS HONORED| JSWEST SINCE 1924/ National Committee Assignments yiner Decrease of $49,000,000 Given Local Delegates | Reported for Week—Redis- at Pittsburgh count Rate Unchanged. t. Special Dispa‘ch to The Btar. NEW YORK, June 12.—The weekly | statement of the Federal Reserve on | brokers’ loans showed a decrease of $49,- 1000,000 during the week ended June 10 to a total of $1.490,000,000, & new low since July 2, 1924, when the figures epart. | St0od &t §1465,218,000. This compare Dholi bl ) Ul | with a total of $1,539,000,000, the pre- "‘f,";‘:,‘“c:“"s':;:‘ff ComMgént and | vious low for the movement established A speclal dispatch from Pittsby’ | Teceived here this noon states that“" members of Washington CH*°" American Institute of Banking\®'® been appointed to national conf''*® at the annual convention. Th2T®: 1 1. J. Roberts, assistant casi” 1888 | ashington Loan Women's Com- July Qctgl, 2g3e FINANCIAL, ' F ADVERTISING ZALEY 1S URGED illions Can Be Saved by Eliminating Irregular Me- .diums, Says Expert. | spectal Dispateh to The Star. CHICAGO, June 12.—Ten miilion dollars can be saved by banrs through- out the country, through co-operation in advertising, which will result in the elimination of the irregular mediums. This is one of the facts brought out in a preliminary report on the stand- ardization of advertising media, pre- pared by Virgil Allen, jr.. assistant vice president cf the First Bank & Trust Co., Utica, N. Y., and published in the current number of the Financial Ad- vertissrs’ Association Bulletin. ‘The aim of the survey i1s to indicate the advantages of standardizing on worthwhile advertising meaia, such as newspapers and other etstablished pub- lications. As an evidence that his estimate is & conservative cne, Mr. Allen points out that nearly $5,000,000 annually has al- ready been saved in banking communi- ties where co-operation in advertising is now practiced. The survey shows that 51 per cent of the banking communities by written or verbal agreement, have greatly reduced or limited advertisiag m irregular me- diums. Into this classificaticn fall un- tried publications, such as programs is- sued by churches, schools, Jodges, clubs and societies, year books, cook bocks and contributions represented by the purchase of tickets to bazaars and bene- fits ond all schemes to raise money fcr this and that speciil group or organi- zation. Present indications afe that the ad- vertising exhibit of the Financial Adver- tisers’ Convention in Boston, September 14 to 17, will be the largest in the his- tory of the organization. The exhibit will be in tune with the theme of the convention, “The Creative Force in Finance.” The exnibit has always been an out- standing feature of the Financial Ad- vertisers' conventions, as they show con- cretely what the advertisers have been doing during the year. At the 1930 con- vention in "Louisville there were 216 separate exhibits and it is expected that the Boston convention will attract & far greater number. The exhibit com- mittee is under the direction cf Cedric Morris of the Union Guardian Trust Co. of Detroit. Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md.. June 12.—Pota- toes, white, 100 pounds. 1.00a1.40: new potatoes, barrel, 1.50a2.75; beans, bushel, 75a1.25; asparagus, per dozen, 50a2.25: beets, 'per 100. 2.50a3.50: = cabbage, bushel, kale, bushel, lettuce, bushel. 15a40: lima bushel, 2.50a4.50; peppers. crate, 5.00; onions, per 100, 75a1.0f large pod, per crate, 1.10a1.35; bushel, 15a230: rhubarb, per 100. 2.00a 4.00; tomatoes. crate, 50al.75: apples, bushel, 75a2.50: per box. 2.00a2.50: cantaloupes, 1.00a3.25; grapefruit, 1.50a2.50; oranges, box, 2.50a4.2 strawberries, quart, 7a13. Dairy Market. Poultry, alive—Chickens. young, 21a24: Leghorns, 12218: ducks, 17223: guinca wls, each, 50a75; pigeons, pair, 20a25. Eggs—Recelpts, 2834 cases; current 1715, : peas, spinach, Decaber | Jam" o omda i cashier, Lincoln Nntlonll%k' Forum i last week, and with $3,998,000,000 on Committee, _ ‘an Seourity | JU0€ 1. 1930. Prank M. Perley, Amiom (TiLeY | Loans for own account were $1.135.- & Trust Co., member C! {000,000, compared with $1,169,000,000 a trative Committee. week ago; lo2ns for out-of-town banks Miss Rose L. Royce, totaled $177,000,000, against $199,000.- & Trust Co., membe | 000, and loans for account of others mittee. | amounted to $178,000,000, * contrasted | with $171.000.000. Demand loans con- | stituted_ $1128.000,000 ‘of the total, against $1,190,000,000 a week ago, an New Yok Cotton time loans were $362,000,000, against $349.000,000. | "The New York Federal Reserve dis- /he Star. | trict rediscount rate r:mains un- S NBW Y oREune 12 —For the third | changed at 11z per cent. consecutive d; m; con.or:! maléket to- | - o~ n improved undertone, o "&iz‘u}";'lm were ot 15 pomts| FURNITURE INTERESTS At one. timeie list closed with a et points on the day. e 4 pomts onfhe éoy. " 1| SEE BETTER BUSINESS Ket and advance of 1 cent a bushel | in wheatuenced traders, and mills | gy (e Associated Press. conllnue!;*éu“xsr:";“;:::gdlg"‘;‘mglg. CHICAGO, June 12—The semi-an- eI nual national furniture market and v B | style show at the American Furniture Cot# Tange: Mart was drawing to a clcse teday, with manufacturers reporting an attitude of optmism. V. L. Alward, president of the Mart, was aiso hopeful, he said “The number of buyers attending the § present makret and the volume of busi- 3 | ness,” he said, “are hopeful signs that | the worst of the depression is over.” Grain Market | - 1 . TR | |Washington Produce CHICAGO, June 12.—Higher prlix(;cs‘ for wheat today resulted from rallies 5 5 assoviated with the fact that the mar- | %‘;‘é;i‘]{‘g‘?;e‘r’;“"fgg})’?“zfi?;e;“l"' - ket had closed lower for five succes- | if8" 17agg g sive days. Thers was much uncer- i, L1818 E prosaects and sellers eppeared to have | 35,33 smaller, 28a30; Leghorns, large, became wary about following declines. | 54525 smal, 30a23; hens, large, 22a23; Talk was current, too, that from the | jegium, 20a21; Leghorns, 16a17; roost- Central Southwest Eastward, including | Tediumm, 2022t Leghorne, 18a'f: roosty the Ohio Valley States, Winter wheat | ,oinds and over, 38a40; 2 to 3 pounds, BEe ey damaged by overfrequent| 3s336; Leghorns, large, 28230: small, moisture. .. | 26a27; hens, large, 25a26; medium, 24a Wheat closed unsettled at -2 Teghorns, 18420 roosters, 17al8; cents advance, corn li-% up. 02ts|gycks, Long Island, 23a24. shoving 1x-% gain, and provisions “Meats—Beef, 1212a1315: veal, 13al varying from 2 cents decline to & Iise | amb, Wi of 5 cents. WHEAT— June e , 12; strip bacon, 21 3 packages, 11. stock—Hogs, heavy, 5.50a6.25: and medium, 6.5026.75; pigs, 6.25a loughs, 3.00a4.50; calves, 4.00a Spring lambs, 6.00a9.00. Fruits—Strawberries, 2.50a4.00: huck- leberries, 2.75a4.00: blackberries. 3.50; apples, bx 5 peaches, 1.00a2.00; pears, 5.00: plums, 1.50; apricots. 1.50: oranges, 3.00a5.50; lemons, 5.5027.00; limes, per 100, 3.00; bananas, 1.25a1.75; cantaloupes, jumbos, standards, : flats, | homegrown, crates, 3.50: honeydews, |2.50a3.00; pineapples, 3.00a4.00; rhubarb, | per 100 bunches, 3.00a4.00. () —Stocks Vegetables—Potatoes, new, per barrel, 2.75; old, 100-pound sacks, 2.00; sweets, Siptmber December Live N ligh September ! 3! . December OATS— July 5 September December RYE— ale September December K3t | NEW YORK, June 12 firm; rallroads extend gains. Bonds | 27 s | irregular; German issues weak. Curb | 35 string beans, 1.00; limss, 3.50a4.00; | Good to fancy, creamery, 22 a25; ladles, 17a18: rolls, 16al7; process, 20a21; store packed, 14al5. Hay and Grai Wheat—No. 2 red Winter, export, No. 2 red Winter, garlicky, spot, June, 79%z. : Comn— No. 2 domestic, yellow, 70; cob, old, 3.50. Oats—White, No. 2. 38; No. 3, 37. . Rye—Nzarby, 50a55. Hay—Receipts, none. While receipts of hay are ample for all requirements, there is no surplus of heavy clover mixed being offered. Such grades will bring a premium of $1 to $3 per ton, depending on_the amount of clover. Fair to good timothy ranges fron $24 to0 $26 per ton. Live Stock Market. Cattle—Receipts, 100 head; v, market steady. Jcice to prime, none; good 7.25a8.00; medium to good, fair to medium, 5.75a6.50: 5.2525.75; common to plain, 4.75a5.50. {* Buils—Choice to prime, none: good | to choice, 5.00a5.50. medium to good, 4.50a5.00; fair to medium, 4.00a4.50: plain to fair, 3.50a4.00; common’ to | plain, 3.00a350. ! Cows—Choice to prime, none: good to choice, 4.5025.25; medium to good, 4.0024.50; fair to medium, 3.50a4.00; plain to fair. 2.50a2.75; common to plain, 2.00a2.50. B Heifers—Choice to prime. none: good ice, none; medium to good, 6.00a 6.50; fair to medium, 5.50a6.00; plain to fair. 5.00a5.50; common to plain, 4.5025.00. Fresh cows and Springers, 30.00a 160.00. Sheep and lambs—Receipts, 100 head; moderate supply; market lower; sheep, 1.0023.00;_lambs, 6.0029.25. Hogs—Receipts, 1300 head; light light to choice, 6.50a7.2! plain to_fair, 37 year ago. | cent. General Motors May dealer sales,| Pacific Public Service stocifolders including Canadian and overseas ship- | approve capital reorganizatics plan ments, 153,730 units, against 154,252 ih | making authorized capital of 4,000,000 April and 147,483 year ago; five months’ | shares first preferred, 300,00 shares 3 59 613, 5 434 10132 10434 A746 961s 96'a 961a 92 ¢5 '46 92 92 Canadian | s '37.. 52 2 B0 4 | Foreign _exchanges | touches new 1931 low. steadier spot situation. trade buying. Coffee lower; easier Bra- 2 42 |3 8 easy. pivotal shares fractionally lower. | pond 7521 00: squash. bunches, 6.00: | homegrown, 75; spinach, 30a3: 10 M 100 Mid Ut 6 20 Mid U 300 Nat Secur Inv ... 200 Nat-Standard . 300 Noblitt-Sparks ; 50 Nor Am G & Fi 50 Nor Am L & Pow. 80No & So Am ....... 0 No West UL 7% bf. W g !ncCDL “Giit estern Cont Ui %Wesl PL & Tel A 150 Wexterk [ Al O&-O;’Mflhc 3 1y ach .. 12 0o Swies todav, 75:000 shares. ‘BONDS. 29000 Tnsull Util 82'% ”% 40, Bond sales today, $19,000, | the May production figures, which show compares with 367,921 tons on April 30 and 354,205 on -March 31. Similarly an unfavorable picture is presented by an increase in output to 102,695 tons from 100,501 in_April and 102,058 in March, and by May shipments, which fell to 71,949 tons from 86.785 tons in April and 111,482 tons in March. Preparation of a petition by the rail- roads for higher freight rates reached its final stages yesterday when it was unanimously decided at a meeting of cxecutives of Eastern, Western and Southern roads to apply to the I. C. C. | and to the State Commissicns for a 15 per cent horizontal increase. It is| understood that the request for a| general 15 per cent rise, instead of de- tailed revision of different class rates, will be made to expedite consideration | of the request. Nevertheless some com- modities which would be diverted to truck transportation by such an in- crease are to be given individual atten- tion. The net result as comtemplated would be an average increase of around | 10 per cent. Automobile sales by Generai Motors dealers to domestic consumers in May fell to 122,717 units from 135,663 units in April, a decline somewhat greater than the normal seasonal diop at this time of year. At the same time it is of interest to observe that sales by the corporation to domestic dealers in May | amounted to 136,778 units, exceeding sales by dealers, given above, by 14,061 units, while sales by the corporation to dealers in April totaled 132,629 units, ! less than dealers sales to consumers by ! 3,034 units, ® i The Companies. Atchison, Topeka & Santa Fe Rall- | way—Brief filed by subsidiaries of Southern Pacific and Union Pacific charging control of Los Angeles Junc- tion Railway unlawful. Baldwin Locomotive Works May con- solidated shipments, $1,520,000, against $5,800,000; five months, $8,790,000, against $23,970,000; business booked in May, $970,000, against $2,520,000; five months, $7,640,000, against $18,020,000; unfilled orders May 31, 1931, were $5,080,000. Central Public Service (correction) April electric sales off 3 per cent; four sales were 612,529 units, against 66! 779; domestic consumer sales in M: were 122,717 units, against 135,663 in were 490,261, against 561511. Indiana Pipe Line May deliveries 1683575 barrels, against 1,590,416 in April. Z Loft, Inc., May sales up 93.5 per cent; five months up 69 per cent; number of customers served May, 1931, was 656,000, up 31.7 per cent. Rath Packing Co. omits quarterly common dividend; paid 50 cents April 1. Standard Oil of New York reduces tonk wagon gasoline price 1 cent a gal- lon 2t Buffalo and Rochester. Stix, Baer & Fuller Co. stockholders to vote on reduction in par of preferred stock from $25 to no par and exchange on share-for-share basis. United Public Service Co. passes quar- terly dividends on $7 and $6 preferred stocks; paid $1.75° and $1.50, respec- tively, April 1. Youngstown Sheet & Tube—Addi- tional continuance of suits to determine cash value for stock dissenting from proposed Bethlehem merger to be re- quested at June 15 hearing. American Cynamid stockholders to vote on cut in stated capital to $10 a share Class A and Class B common stock: net book value after change will be about $14 a share. Electric Power & Light common share earnings, 12 months to March 31, $2.85, 8. against $2.88. 5 New York, Ontario & Western Ry.— $2,498, March quarter net income, against deficit, $268.977. Steel Co. of Canada—Profits reported above anticipations, but not believed to | be suffiefent to cover full dividend o s tigraph Corp. ressograph - Mul p) . — %arch quarter common share earnings, cents. Brocklyn-Manhattan Transit—Third Transit Commission unification report makes little change in gross prices for lines to be acquired; reduces previous estimates of revenues and net income; proposes that management contract be terminable on 60 days' notice by paying debentures at par instead of after three years on one year's notice. April and 131,817 year ago: five months | second preferred, 1,000,000 siares non- voting common and 200,0008hares vot- ing common stock. Pittson Co.—Coal outpyt June 4 av- eraging about 450,000 «ons a month against normal capacity of 500,000. | Thomson-Starrett Cs». common Shlrei | earnings, year ende¢ April 23, $2.23 | against $2.13. United Verde estension mining 25 cents quarterly dividend; = previously paid 50 cents; ‘% suspend .operations 90 days starting July 1. Western Unimn Telegraph April gross off 15.8 per cent, net operating income off 149 per cent; four months gross off 15.3 per cent, net operating income of 12§ per cent. International Telephone and Tele- graph March quarter common share earnings 43 cents against 57 cents. COPPER USES INCREASED. NEW YORK, June 12 (#)—Annual consumption of copper by power com- panies for transmission and distribution of electric current was increased more than 330 per cent since 1920, a report of the Copper and Brass Research As- sociation said yesterday. A survey just completed showed ap- proximately 260,000,000 pounds . were used in 1930 against 60,000,000 in 1920. The 1930 total represented an increase over 1929, SILVER QUOTATIONS. NEW YORK, June 12 (P).—Bar silver sieady, at 2612, an advance of . FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal gold’ Selling ehecks value, oday. London, pound. franc Budapest, pengo....: Prague, crown (nom.) Warsaw, zloty. Copenhagen, Chicago, Indianapolis & Louisville Ry. months off 3.8 per cent instead of off oY —Passes semi-anBual dividends on pre- Oslo, crown Stockholm, crown. 5% 85 85 5123 '37 10234 102% 1023 | s E 36 1023 1023 1023, 3 Wiscon P&L 5s F '58103 1027 103 FOREIGN BONDS. 1Asr Mtz Bank s 47 T3% '51 81 5 5 3% a3 " 857 25 10475 108V 104% a5y b 38 : 1 28 [id 60 2 Santiago Chile s F Ltd 5s A 6las A" 3 77 TTletz (L) 7125 46 Xw. 9014 & 5 United EI Ser 7s 56, 774 1713 zilian markets. | 3 CHICAGO, June 12 ().—Wheat firm: | 1 insufficient ramn Canada. unfavorable weather Southwest. strong to higher. Hogs higher. Loft Sales Increase. NEW YORK, June 12 (#).—Loft, Inc., yesterday reported sales for May totaled $1,194,635, an increase of $577,536 over | al May, 1930, or 93.5 per cent. For the first five months of 1931 sales totaled | r | $5.459.003, an increase of 69 per cent over the same pcriod last year. By the Associal 50 Industrials. Today..... Previous day. Week ago. Month ago. Year ago Two years ago. Three years ago. ww—WIith _warrants. Xw—Without rants. n—New. wi—When issued. e e A. & P. TONNAGE SALES INCREASE 15.2 PER CENT By the Associated Press. NEW YORK, June 12.—Although dollar sales of the Great Atlantic & High, 1931. Low, 1931. High, 1930. Low, 1930. High, 1929. Low, 1929, BONDS. 10 lnlusl;hll. Pacific Tea Co., for the five weeks end- : ‘ed May 30 showad a decrease cf 1.6 cent from the corresponding period last vear, tonnage sales for the same period increased 15.2 per cent. Dollar sales were $102,946,053, com- pared with $104,673,214 last year, while tonnage salss were 563,232 tons, com- pared with 483,753 tins in the corrs- sponding five weeks of 1930. Average weekly sales lasi month o $20,589,211, ngainst $20,934,643 1ost year. Average weekly tonnage sales emount>d to 112,645, compared with 97,751 TWO years ago. Three years ago. High, 1931. i Low, 1931 High, 193 Low, 1930. | Migh, 1929, Low, 1929. (Copyright. 1931, Standard Statistics Co.) Corn steady: | redishes, per 100 bunches, 1.50; cauli- Cn'.tlc‘lg%v;er. homegrown, 1.25a1.50; peppers, lugs, 1.50a2.00. tures, $12,910,017.80. STOCK AND BOND AVERAGES FRIDAY, JUNE 12. STOCKS. 1.00; eggplant. | .50a3.00; carrots, crates, 3.00; per 100 beets, per 100 bunches, | cucumbers, 1.00a1.25; supply: market higher; lights, 7.50a heavies, 6.25a7.00; medium, 7.50 .75; roughs. 4.25a5.50; light pigs, 7.00 lettuce, | a7.50; pigs, 7.50a7.75 kale,| Calves—Receipts, 125 head; light sup- 0a35; onions, Bermudas, 1.60; white, | ply; market steady; calves, 4.00a4.85. 5a1.75; Spring, per 100 bunches, 2.00; 3 .00; CHICAGO LIVE STOCK MARKET CHICAGO, June 12 () (United States Department of Agriculture) — Hogs, receipts 15,000, including 5.000 direct; active, 25235 higher on best 270 pounds and down; heavier weights and packing sows, 10a25 higher; bulk, 160-260 pounds, 7.00a7.10; top, 270-250 pounds, 6.25a6.85; pigs, 6.50a 6.85; packing sows, 5.2526.00; light light, good and choice, 140-160 pounds, 6.75a7.00; light weight, 160-200 pounds, 6.8527.15; medium weight, 200-250 pounds, 7.00a7.15; heavy weight, 250- 350 pounds, 6.25a7.10; packing sows, medium and good, 275-500 pounds, 5.2526.00; slaughter pigs, good and choice. 100-130 pounds, 6.50a6.85. Cattle—Receipts, 2.000; calves, 1,000; fod steers and yearlings active: strong to unevenly higher; fat she*stock, bulls and vealers about steady; early clear- ance of all classes. Slaughter cattle and vealers: Steers, good and choice, 600-900 pounds, 7.75a9.00; 900-1100 pounds, 17.5029.00; 1100-1300 pounds, 7.5028.90; 1300-1500 pounds, 7.25a8.75; common and medium, 600-1,300 pounds, 6.00a7.50; helfers, good and choice, 550-850 pounds, 7.25a8.75; common and medium, 5.25a7.25; cows, good and choice, 4.75a6.25; common and medium, 4.0024.75; low cutter and _cutter 2.50a4.00; bulls (yearlings excluded), good and choice (beef). 4.00a4.50; cut- ter to medium, 3.50a4.40; vealers (milk- fed), good and choice, 8.00a9.50; me- dium, 6.5028.00; cull and common, 5.00a 6.50. Stocker and feeder cattle: Steers, good and choice, 500-1,050 pounds, 6.00a 7.50; common and medium, 5.0026.00. Sheep—Receipts, 8.000 head; general- ly steady; only few loads on sale: good and choice native lambs, 8.25a9.00; some held higher: yearlings unsold: few fat ewes, 1.00a2.00. Lamabs, 90 pounds down, good and choice, 8.25a 9.50; medium, 6.50a8.25; all weights, common, 5.00a6.50; ewes, 90-150 pounds, medium to choice, 1.25a2.50; all ‘welghfi.s, cull and common, 75a1.50. tomatoes, six-pan crates, 2.00; TU. 8. TREASURY BALANCE. The United Stat:s Treasury balance nnounced today as of close of business une 10 was $47,580,199.52. Customs eceipts for the month to date were 9.169,641.62. Total ordinary expendi- ted Press, 20 Rails, 20 Utilities, 158.4 157.¢ being col