Evening Star Newspaper, June 17, 1931, Page 15

FINANCIAL/ CURB SHARES'SAG - INLIGHT TURNOVER] il Group Fluctuates Widely. Utilities Make Better Show- ing—Mines Irregular. BY JOHN A. CRONE. [Boecial Dispateh to The Star. NEW YORK, June 17.—Curb mar- ket stocks sagged today in light trading. Once again it was difficult to con- Inect the market’s movements with any- thing In the news, unless the continued decline in the steel industry's activity ould be said to have a general effect. s was expected, however, and prob= bly the only important reason for to- day's selling was the indifference of ders to the market's movements. Rumors emanating from the head of- ces of Vacuum Oil and Standard Ol of New York regarding their merger rms and the npposition of certain jgroups of stockholders caused wide [fluctuations in Vacuum Oil and sym- pathetically affected other 'oil stocks. ['Vacuum dropped at one time to a net loss of over 4 points on the day. Stand- ard Oil of Indiana and Standard of Kentucky were narrowly lower. Cities Bervice held steady at 113 in the fore- noon. A string of utility earning reports owing net income well maintained or increased was responsible for tl resistance of utilities to the marke downturn. Electric Bond & Share at ts forenoon low was only off fraction- lly. American Superpower clung stub- bornly to & small net gain. Small losses re shown by Associated Gas & Elec- ric A, American & Foreign Power War- ants, Brazilian Traction, Eastern States [Power B, Middle West Utilities, Niag- a Hudson Power and Utilities Power Light. The sole issue to show activity in he industrial list was General Thea- Equipment preferred, which drop- [ped a small fraction and later braced. [Fox Theaters was off a shade. Deere Co. was heavy. American Cyanamid and St. Regis Paper were qulet. ift International pointed higher, but Bwift & Co. was lower. Goldman Sachs and United Found- rs, both with small declines, were the only performers in the trading corpora- ions. 1In the mine shares Newmont was lightly lower, while Hudson Bay Mining Smelting and United Verde were eady. Roan Antelope Copper Mines, n inactive stock, was off over a point , eased, many sales taking place around the 10!z level. The Ford [Detroit factory today reported that cur- it employment was about 79,000 work- rs, an increase of several hundred over Past week end comparing with 84,000 during peak operations in April. United Gas was active again, but operations to move the price higher met with scant success. Appalachian, Du- quesne Gas and Arkansas Natural Gas jpreferred were quiet and most of the ne unchanged. CHICAGO STOCK MARKET By the Associated Pres: CHICAGO, June 17.—Following is,the omplete official list of transactions in tocks on the Chicago Stock Exchange BTOCKS. bot Lan 50 Allied Mot _Ind. 100 Appalach Gas 8) Assoc 1 & T A 100 Assoc Tel UMl "] 50 Assoc_Tel UUI F% 100 Automat Wash 2000 Bendix Avi: p3450 Borg-Warner . 830 Bruce (E. L. 400 Butler Bros ......... 20 Canai_Construction . 80 Cent 11l Pub Ser pf . 330 Cent 1l Sec .. 13 80 Cent & 8o West pi . 10 Chi N 8 Mil RR pl.. 100 Com Wat Serv 0 Cont Chicago . 400 Cont Chic pf d Co 30 Gt Lakes Dredge 730 Grigsby-Grunow 50 Hall t oudall niand U1 nsull_Util 0 4930 100 Iron Firema; qose BaBan8Su N we. w2, un r Oats DI ailrond 8h ath Pack .. eliance Mfg Gear . - 2aBatinSasn Thompson (J' R} United Corp of Am. United Gas ... 2332225333355 SreanAnsy - ! tock sales today. 36,000 shares. BONDS. Insull ULl 65 40 ond sales today, 325,01 SHORT-TERM SECURITIES. (Reported by J. & W. Seligma e el ersity of Oxford has con- germne Tpon S William Morris, Enk- Received by Private Wire NEW YORK CURB MARKET Aiitnlieoi Note—All w are wus shows those Stoek and Dividend Rate. Aero Underwriter: Afiliated Prod 1.60., 9 1 Ala Pow eum of (7). 508 11 All Am Gen Corp. L Alleg Gas...... 3 Allied Aviation. 4.y Allled Mills (80e). .. Aluminum Co of Am 22 Alum Goods (1.20).. Alum Ltd A war.... 21 Am Austin Ca Am Cit PAL Bb10% . Am Com P A (b10%) Am g;rn (mm. Am Cyanamid Am Dept Storés Am Equiti .o Am For Pow war. Am Founder: fr Am Gas & Elee (11). Am Invest Inc (B). Am ufactur (4). Am Maracaibo...... Am Superpow (40e). Am Superp 1st (6)., Am Thread pt (26¢). Am Utl1&Gen (B)vte 7 - Faniabanaaawns - o a8aF o Arkans Nat Gas A. Atk N G cu pf (800). Asso GasdEl A (a2). Asso G&EL all ot 1.60 Ass0G & Blot ( Assoc Laundrie - P - o % H Atlas Utilities war. Auto Vot M ov pf ptu Bahla Corp. . . Beneflcial IL (1%).. Blue Ridge cv pf'a Bras Tr & Lt (b8%). Brill Corp A (34¢) Buff N&EP pf (1.60). Cable & Wire B rets. Canada Mareont, Carib Syndicate Carman & Co A - = T - P L L < Con Gas Baito ( Consol Gas Ut B vte. Cont Roll & Steell Fy Creole Petroleum. Cresson Consol (4¢). Crown Cork Intl (A) Curtiss Wright war. Dayton Alr & Eng. Deers & Co (1.20) De Forest Radio. Douglas Alr (t1%). DressSRA (3%) Driver Harris new.. Dubilier Cond & Rad Duquesne Gas Corp.. East 8t Pow B (1). East Utll Inv A, ... Elsler Electric Corp. 4+ Elec Bond & Sh (b$) Elec B& Shpf (6).. Elec Pow Assoc (1). Elec Pow Asso A (1) Elet P & Lt op wal Fmp Corporation. Emp Corp war. Empire Pub Sve (A). Evans Wallow Lead. Fageol Motor. Fajardo Sug: Fiorida P & L p! Ford M Can A (1.20) Ford Mot Fran 37%¢ Ford Mot Ltd 38 8-5¢ Foremost Fabrics. .. 4 Foundation For Shs. Foxz TheaterCl A... Gen Alloys » 3 ey Coh RN BN NN =SB aNE e KON AN AR I B N B e 90 a Gen G&E cv pf B (8) Gen Petroleum. Gen The Equip cv p! Georgia Pow pf (6). Globe Underwr(15¢ » Golden Center Goldman Sach Gorham M vte (£2). Gra'phne Ltd cfs 56c Groc Strs Prod vie. ., Guif Ofl of Pa (1%). Hoilinger Gold(65¢) . Hudson Bay M &8 .. Hygrade Food Prod. 111 Pow & Lt pt (6).. imp O1l of Can (50¢) Ind Ter Ilu Of1 A, .. Insull Inv (b6%).... insurance See (10c). - » g cwers sold in hundreq-share 10 ,thI(mfllflh Were e0id in Add 00. Open. High. Low. D1 % 9K 9 odd Close. 10 IntBat 1% 1 114% -114% 10% 10% 21 e 9. 8 4% 0% 1% W 13 10t 1. 29 24% Lake 8 19% Leh 8% 4 et e 35 New J b % Nor Bu Nor 8t Parker Reliabl Republ 8W Bell Sunray Bwi, Teck Hi 8 Foll u US&1l U 16% 10% 96% T % 5% 15 % 4 a7 7 3% 4% 88% 12% 10% 26% 6 Utllity Uil Eq Vie Fin: West A Winter “¥"on Dividend nual payment. Aiviend: Feics B’ Tock: 2 Plus 3% 1n 5% Int Utilities B. . Int Utll pt pf (7) % Kolster-Br (Am 8h). ckawanna Sec (4). % May Rad & Telev(1 Mead Johnson (/%) Meta! & Miaing, Inc Peanroad Corp (20e) Peoples Lt&Pwr (A) Philip Morris Ine. Philip Morris A. Pub Ut} Hold Cp x Pure Oil pt (6) Rainbow Lum Roan Antelope Min. . Roch Gas&E pt D( Kt Regis Paper (60c) Schuilte Un 6¢-81 St.. Seaboard Util (50¢).. Spleg May Btern pf. . Stand Ofl of Ind (2).. Stand Oil of Ky 1.60. Stutz Motor Ca: Vacuum Oil (2). Van Camp Pkg...... Rax B (12%). jos B. » 1% 1% 3 33% 33% 3% Mines (11.60) - 2 26 26 25% & Nav 1.3 9 20% 2 % 108 109% % * 4 % 106 109% ™ TR TR * LY * 4 4 4 2% 3% 2 8% 14 134 8% 105 110 108 110 3 8 to 50c Strs in Cotp (1). Mountain&Guit (ge). % Nat 8T 8ec A ($50¢) 58% Nelsner Broa pf (1) % New Bra - 1008 Ofl (28c).. 1 Zino (13).. 1% New Mex & Ar Land. 23% Newmont Mining.... T8% New Eng Pow pf 16) T% N Y Transit (170¢).. Niag-Hud Pow (40¢) Niag-Hud Pow Cw.. % Nor Am Aviat A war irop Oil Corp.. Nor Ind Pub 8 pt (8) Pow pf (6)... 8 Ohio Brass (B) (5).. Ohto Copper...... PacG&E1stof 1%. Pan Am Alrways. ... Paramount Cab Mfg. 1 Rust Pr m..uo; @ Stores ic Gas C e e R S AR~ 121% 121% S, . B 1 Tel pf (7)., 4 4 122% 122% s 16 16 Ofl (b5%)... Swilt & Co (3) Swift Internat (3)... -Am El pt (8).. Taggart Corpn. . ughes ($0¢) Texon Ofl&Land (1)s Thatcher Sec Corp... Tran Con Alr Tra Trans Lux DLPS Tri-Cont Corp war Tri Utilities (b20%). Ungerielder Fin Cp.. DL (T) Unit Lt &Pwr A U 8 Finishing. . . 1 (B) (50¢).. nl Secur. S Inter See 1. UBlilll.lnlll). Util PALt(a11.023%). Ut P&AL Biat1.02%). Ctil & Ind. Equities. . ..s uity pf (53).400s . 70 1 an Corp(40e) uto S A (3) (Benj) & Gas. . Tates 1n dollars based on last quarteriy er - g e a iy or semi-an. 1Partly extra. in stock, stock, k- ug 1n_stoc SIOGK. B Paid Iast 30ar o reRuiar Face; EFFECTS OF SHORT SELLING - ARE DECRIED BY PRESIDENT Market Raiders.‘ While Within Law, Are Not Helpful to Nation, Hoover De-~ clares—Capital Taxes and Booms. BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK, June 17.—There were two portions of President Hoover's In- dianapolis speech which were read with much intrest in Wall Street. They had to do with the speculative selling ¢ | of securities and commodities and with 2| the effect of he present capital gains tax on markets when they are rising and when they are falling. ‘The influence of the professional “bear” on the stock market in the last year has been the subject of animated debate throughout the financial district. Those who ha Frsmanuy stated in print that not a little of the deprecia- tion in stocks was being brought about by the organized efforts of a band of “sharpshooters,” or “guerillas,” operat- ing on the floor of the New York Stock -Exchange, have been criticized and told that the selling there was all by holders of actual securities. Raids on Markets. In the early portion of his Indian- apolis address President Hoover refers to the fears and apprehensions of the Ppublic .sver business conditions and for- olfn airs and says that there is & minority of people who would make litical, eapital out of the depression. ‘Then he "states “other small groyps the business world make their contribu- tion to distress by raids on our mar- kets with the purpose to profit from g‘egrechzhn of securitizs and commodi- “Both groups are within the law and they are lly condemned our gublh: lfld’%lflufl opinion; thbe’y are y no means helpful to the Nation.” Later in his speech he sald “it is equally obvious that we must determine wheth- er the faellities of our security and com- modity ‘:xc used their securities by professional bands of market raiders, Capital Gains Taxes. After the panic in November, 1929, there were many measures proposed by members of Congress for curbing specu- lation. None of these ever reached the point of ssrious consideration. There was an unwillingness cn the part of conservative members of to inject an investigation of market prac- tices at a time ‘;hln in the pe- riod of national crisis and his question- lnl‘:{ the n:nJ of ex - 'l: s mat speculation may consideration of such practices by the new Coxmu ccnvening in December, The T around this statement: “It is obvious that our taxes upon capital gains viclously prmgg the in times of rising and for the same reason large are dumped on the market in times of depression,” e clear inference from this is that President Hoover believes that there should be some modification of the cap- ital gains tax law. During 1928 and 1820, when the stock market Was buoye £ 587 RY! portion of his address | 800d which concerned Wall Street centered 1 ices, qung‘t'mu 4. year out from taxes based on_capital gains is an important item in Treasury receipts and that to change the law in this particular section would also in- volve other modifications of it and a filn:nl recasting of the entire statute. RESVISLE Y L : it may, ever, be somewha modifiled by the next (Copyright, 1931.) CHICAGO LIVE STOCK MARKET CHICAGO, June 17 (# (United States Department of Agriculture).— Hogs, 14,000 head, including 2,000 di- rect; active, 15425 her; rcnng strong to 10 u:;" bulk, 170-250 7.1087 7.25; 260- heavy .15; pa sows, medi 800d, 276500 pounds, 5.10a5. ter pigs, good and choice, pounds, 6.7581.00. Cattle, 9,000 8.25, Slaughter cattle and vealers, steers, and cholce, 600-900 .50; low ‘cul bulls (yearlings excluded :fi:e z;oel). 4.0004.50; cutter to me- ,3604.25; vealers usmuk fed), jum, 6.50a8.00; ¢ull and 008’ dium, 5.0028.00. Sheep—Reobipts, steady; bet! wether lambs, higher; unsold; most fat ewes, native ewe 1.001.76; and i (Reported by J. & W. Seligman & Co.) i :n'. o t loan, 103 francs 10 ve per cent cen- 14 times = i PARIS BOURSE PRICES. PARIS, June 17 (#)—Trading was t on the Bourse today, Tt Senten, 85 Mrancs 155 oot Exchange on London, 124 francs 201 The dollar was quored at centimes. % (38 francs 5315 ct Alabama Pw 3 Alabama_Pow 3 Aluminum o =2 ;>>> EsEE' SR BB auSanmunitey FrirERe ;Efi-n;-;-&.,a’gg Py ey P SBrwenaS st avoSans San o ond s on e Bno B nawenan b Inter Pw Intern Se Intersta P 1 1% :t Inves In: iy 2R mgon? ::g Bunpnainemnuel BibeaSuewens —Saismblemn=., < s Ao BB B b0 T ateaBammnoleal en ¢ [ 58 5P 2o2T, nsull UL 6 Tntercon Pw c c Am ower Intersta P B 4 23 & Fi 3 3! SETEETe U 5 5g3 :—38233.-:382&23888233233;'583 (553 Sgz2susEs $3 22235355 g2 0es s 355833535 203, Ve 3 SEaraats, 333333332823333383222:3332223! RSN 533853 s3ng22335eE8ualE 2333333 i FEEES on3s 3! 5 *E FaE WS es seseeEEeeesss 2 Fas WOER Seiuscsess geSSeuFgsegseinds 53 ;e - =oese 23! 3223555 eonga: S8 B FERES: 3250 = SRS &, £3-4 ¥ 78 | the chamber i S 2 TIER BT WST Zeezeasss 222232333338332 zs# & FF FIERE 833 STOCK 23 aeal 2 444 3 Low, 1929 (Conyright, OUTRUT AND SALES OF ARPLANE OFF Figures for First Four Months Are Below Same 1930 Period. T Special Dispatch to The Star. NEW YORK, June 17.—In the first four months this year 491 commercial planes, valued at $2,205,626 without en- gines, were produced, and 479, with a value of $2,430,254, were sold, according to the Aeronautical Chamber of Com- mere: mo( :'mamnc. l;:oslho corre- sponding year commer- clal ngnu were produced, valued $4,255,600 without engines, and 694, val- ued at $3,860,654, were sold. While both production and sales were below last year, there has been a de< cided increase since January this year, reports. Of the total manufactured in the first four months this year, 59 were produced in January, 88 in Fel 48 in March and 196 in_April. e were 55 commercial airplanes /sold in January, 80 in ruary, 157 in March and 187 in April. Eighteen fewer units were manufac. tured this year in the last month of the 120-day period than in 1930, and 50 fewer planes were delivered. Commercial Engines. Both production and sales of com- mercial engines in the first four months corresponding period last year. This year 760 engines were produced and 783 delivered. The value of those manu- factured was $1,462,278, and the value of those delivered, $1,766,375. In 1930, $2,582,130 came off the production lines. The units sold reached a total of 667 and were valued at $2,448,765. Fifty-five commercial engines were uced in January of this year, 148 rebruul?. 232 in March and 334 in April. Deliveries totaled 71 in January, 191 in February, 243 in March and 278 April. It is of interest to note that 216 power plants were produced in April, 1930, while a total of 217 were sold, and in spite of the fact production in the month of April, this year, was greater by 118 units than in 1930, the value of the engines produced was 856,727 less. There were 61 more units sold in April this year than last, yet the value of those sold this year was $488,070 and those sold last $624,990. This differ- ence is accounted for by the fact that a large number of low-priced power |4 plants of 75 horsepower or less were produced in the first four months of this year to meet the demand for en- |A: gines to equip small, one and two place airplanes designed for the private owner. ‘Military sirplane production and de- liveries, while experiencing a drop in ril with March, are still 1 April, as com ‘well above the first four months of |Basi This year 330 units have been pr:fldueefl. while 329 have been deliv- |Sh! 1930. ered. The value of those produced was $4,461,140, an dthe value of those de- livered was 34,473,140, Last year 197 military craft were produced and 239 $50 ana s2891.196 1 and $2, , respectively. Production of military first four months of this year reached 597, and these units were valued at $3,120,215. The number of engines de- livered, however, was 637. The valu- ation of these units was $3,840,646. There were 331 military power plants, AND BOND AVERAGES £ By the Assoclated Press, B Voo WEDNESDAY, JUNE 17. .+ 732 power plants with a valuation of | \ Special Dispateh to The Star, NEW YORK, June 17.— The recent ran the cotton market into an ine suj back 15 points & loss of 5 to points on the day. While weather was favorable, a better demand for raw material had a steady- ing influsnce on prices. Spots were re- duced 5 points to 8.90. Cotton range: July |SENATOR KING FAVORS TIGHTENING TRUST LAWS By the Assoclated Press. Senator King of Utah discussed pro- posals for pmending the anti-trust acts with Attorney General Mitchell last on is strongly in favor of tightening rather than liberalizing these acts, and, as chairman of the Subcom- mittee of the Senate Judiclary Commit- tee, which will conduct hearings on Emond amendments next Winter, is ful restrictive legislation will be adopted., He declares he is not in favor of Government in business and believes that lowering the bars would result in the establishment of Federal commis- designed to control business. Secretary of Commerce Lamont like- wise voiced 2| the Gov- of this year exceeded the record for the | 9 from within the industry itseif.” Mr. Lamont said there was no easy solution for overproduction and re- minded the lumber fmup that other industries, notably oil, are in as bad | condition, if not worse. While conced- ing that it s obvicus overproduction in industry must be brought under control, | he said that “the less the Government | %b‘:}? that the better off everybody —_— INVESTMENT TRUSTS NEW YORK, June 17 (#).—Over-the. counter market: 2 ust Shrs D By, Askea. st Shrs X S 5 vestors A 1 T A | A1 Am | Am m & Sen Sl Am Founders m Poune The valuations were $2,196,- | C) el epgines in the | Comuiat! Diversified Diversified valued at $3,175,760, manufactured in g‘q it the first four months of 1930, while deliveries reached a total of 573 units with a valuation of $3,319,060. Grain Market 98 2 1043 2 1047 | | By the Assoctated Press. CHICAGO, June 17.—Sensational estimates of crcp damage strengthened wheat today. The Cal ust s Fundamental Tr Shrs Fundamentai Tr Shrs General Bautty A Orldnllr 'I'rlnfll!h i ude Winmill Trad. e e i Incorp Investors | Independence Tr Shrs. Int Sec: P Am A in Canada | Int dian growers’ pool reported wheat con- | Invest Tr dition of the cent of normal, against 86 a year ago. Other authorities figured the Canadian crop at 226,000,000 to 236,000,000 v ls, compared with 378,000,000 har- vested last year. Wheat closed irregular at 3 cent de- | M. corn un- | M changed to 1 higher, oats unchanged | Mutu cliné to % cent advance, and provisions showing 2 cents to 15 cents gain. w. Close. 692 o BOND ISSUES AWARDED. BALTIMORE. June 17 (Special).— John P. Baer & Co. of Baltimore were successful bidders for an issue of $10,- 000 Laurel, Md., street nnmvemw puner 41§ per cent . The su m"xglou The bonds mature July ‘Wejlepp-Bruton & Co. cf -this city were awarded an issue of $20,000 Queen Anne County school loan 5 per cent bonds. The issue nually from 1938 to 1943, prairie provinces as 70 per | In! = 2 FESEFESEE F8 reonsd soSao, matures $4,000 an- | uni of % | the * | stockholders of 50 of [INCREASED RETAIL } BUSINESS 1 SEEN for Better Sales in Re-- mainder of Year. BY JOHN F. SINCLAIR. Dispatch to The Star. sharp recovery of nearly 3% of a cent | Pany’ creased of contracts today and prices.set | ing in it one time, ending with the bal year.” ” In view of some of the gloomy re- ports that have been issued in the last 30 days, this showing by one of the world’s largest merchandisers is a re- markable one. President’s Speech. President Hoover's speech was_re- ceived with mixed feelings in Wall Some leaders saw in it definite threats against speculation. . Others liked the new assumption of ieadership which the President showed. These were elated over his 20-yea: glan, Wwhich included an increase of 0,000,000 in populdtion, homes, indus- ]tjq. leisure and increased standard of ‘Wall Street recognized the President’s speech-as a definite bid for renomina- tion. The 1932 campaign is llke? to be fought between the principle of in- dividualism on the one hand and grow- ing State action on the other. On that issue Mr. Hoover is frankly on the side {of Individualism. Test of Capitalism. The advertising men, in session in New York, heard & most effective busi- ness talk from Glenn Frank, president of the University of Wisconsin, who said that the job ahead was to set out deliberately “io create prosperous con- sumers as well as consumable goods.” “If rugged individualism results in ragged individuals,’ Frank, “it may be time to reconsider our eonee.pt of individualism. Today the United States may find unplanned competition as dangerous as uncon- trolled mo = Mr. Frank suggests that the United States must find a political leadership that will help Americans “realize that censorship, slander and jail sentences will prove futile answers to Communism if Russia should ultimately succeed in raising and stabilizing a satisfactory living standard for the Russian mil- lions and the Western system of free capitalism and political liberty does not. “The only answer that will really offer a reply to communism is the achievement and guaranty by western capitalism of a better life for the mil- lions than communism can achieve. If the business and industrial system of the United States cannot or does not, in the long run, give as guarantees security, leisure and self-respect to masses as an Italy or a Russia can give, then in time the Fascisms and communisms of the future will inevi- tably replace capitalism.” Stockholders Increase. The report issued by the Standard Statistics Co., comparing the number of the largest corpo- rations in the country betwsen January 1, 1930, and January 1, 1931, showed a total of 3,552,000 shareholders at the beginning of 1030 and 4,401,000 at the end of 1930, a gain of 24 per cent. Only one of the 50 corporations showed no increase in stockholders, and ons company had & decrease. The ptroep. ntage increase during 1930 of the 10 largest corporations am the 50 showed the same percentage Of gain as did the entire 50, about 24 per cent. The first 10 follow: v nds). Total lll‘ghgl‘dérfil'rh!oua ~ . of gain. &f iy Amer. Tel. & Tel.... ties Service .... by North American News- paper Alliance. Inc.) -— SPOT TRADING IS QUIET JN CHEMICAL MARKETS Special Dispateh to The Sta: NEW YORK, June l'IA‘-lWl:‘!lI:nwlll inst running contracts in coun-= 3-. heavy chemical markets have shown a tendency to slow down in re- cent weeks and spot trading hes not been marked by any particular activity. chex;:‘i.cll & Metallurgical Engineering reports. g:u: al influences have increased de- mand for certain chemicals and good interest has been reported for copper 1% | sulphate, calclum arsenate, calcium 44 | chioride, j‘: “nmmu. chlorate of soda, suming lines have been normal quotas, so that, generall sidered, the total tonnage movement has been satisfactory. ‘While the weighted index number for cals was slightly lowered last month, the majority of offerings showed a tendency to maintain former levels Summer. sg{gu of turpentine again held a slightly higher average for the month, but éthyl acetate, benzol and other chemicsls were lower. Copper sulphate made a new low price record Although improvement in the tonnage movement of chemicals was not general throughout the second nwne:mm of the ', the in dift ivisions of ' industry an cffset to the