Evening Star Newspaper, June 23, 1931, Page 12

A—12 HEAVY PURCHASES OF WHEAT LIKELY Millers May Aid Market With|32 Contracts for Fall Needs. BY FRANK I. WELLER, Associated Press Farm Editor. The slight upturn in wheat values over the week end suggests that the bullish crop news from Canada and the American Spring wheat country may be having more market effect than re- ports of excellent Winter wheat yield and poor European inquiry. Too, the steady demand from shorts is giving the futures market support and the high quality of new crop wheat indicates a keen consumer demand for ! the early run, particularly since flour stocks are at a minimum. Millers probably will absorb a large part of the wheat marketed in the next| 30 days. Those who are buying July| and selling September expect to get a delivery of new wheat. i Trading Volume Small. However, the small volume of trading { s indicative of the unwillingness of buyers to take hold freely even though prices seem low and the general trade, frankly is in a position where it is| awaiting developments. Some expect hedging pressure soon to be a big fao- | tor. Whether the market ultimately is | dominated by the Canadian situation or the Liverpool quotations, mow that it is known Farm Board wheat is to be continuously available for export, is & matter of conjecture. Bad reports from Canada, while checking sales somewhat, have failed to attract broad outside buying. The trade is not as friendly as it might be toward the Winnipeg spread because of fears | that trade offerings during July might | hinder Canadian business abroad. ‘The condition of the Canadian crop 1s now placed at 54 per cent of normal for Saskatchewan, 65 for Manitoba and 85 for Alberta—indicating a yield of | 236,000,000 bushels, compared with | 374,000,000 last year. Saskatchewan is the big wheat prov- ! ince, and it is reported from Saskatoo! that wheat conditions are growing worse daily. Dust storms have been worse in the last few days and railroads are said to be using snow plows to clear their tracks of drifted soil. Unquestionably, Canada must depend on the northern part of the belt for most of the wheat this season. Al- though below average, wheat there is promising and has ample moisture for some time. Otherwise, the crop rapidly is shaping toward the lowest yield per | acre in history. Many districts will not get seed back, it is said, if dry weather continues for another week. With rain, | farmers would be hopeful of sufficient feed to carry their stock through the Winter. Much of the early dust and drought damage cannot be repaired and half a crop is the best some sec- tions can expect. The same is true of many parts of the American Spring wheat territory. Reports last weck were the most pessi- mistic of the season, many saying that even generous rains cannot restore the crop. _Travelors said all crops are gone from Rugby, N. Dak,, to the mountains in Montana. Market Handicap. Continued failure of foreigners to buy cash wheat or futures enthusiastically counts heavily against the market, espe- cially since the outlook for the Euro- pean _crop is none too good outside of DIVIDENDS DECLARED NEW YORK, June 23 (#).— Extra. Pe- Pay- Rate. riod. able. 10¢ July 50 July Resumed. July Hidrs. of record. June 17 June 20 Company, F Ins N Hamp Plainville Trust Bhafter Stores June 25 Reduced. e Q July s0c 8 July 1 25¢c Q@ June 30 Omitted. Cent Vt Pub Ser....$1.50 Comwith 8 67 cv p{.$1.50 Gt_Nor Fin 8% pt A..52 QR 8 Neon Co 7% pf.Div. Deferred. Le & Cady Co....15c Q Regular. All Gen Corp $3 p!.75¢ Am Expr Bk & Tr.S1 Am Factors Ltd....isc Am Furn Co cl June 20 June 25 June 22 Atlas Accept pf Contl NB&T (Phil) Laclede Steel Q Due June 3! Q Due July Q Due July 1 due at this time, 1) 1 June 30 July 5 June 30 July 11 June 30 June 20 June 20 June 20 | June 15 June 20 June 25 Aug. 1 Aug. 1 Aug. 1 June 26 June 30 June 30 June 30 June 30 Q M Atlantic Tce’ & Coal cl A pf.. DO, DS Autoline Ol Co’ i Bancroft Hotel Co.25c Barb (WH) Co pf.31.75 0. 6127 DI Dolese & Shepard...s1 Dua N B (Pitts). Pirst N Bk (Chi).34.50 S Fitzs & Conn Dredg Dock - o June 20 | Fuller Br_ Co 'pi. June 25 | June 30 | June 17 June 20 June 20 June 20 | June 24 | June 30 | D0m mwOO LOOOOORZZOOPOOWD O 0) Houghton ‘Nat (Houghton Johnson Ir Wks Dry k & Shipbig pi.$2 Ken Util Co pf...$150 Q L'Air Liauide Ser 3 Bk Mich).$8 June 25 June 25 June 23 | July 18 | June 25 | June 20 | June 26 June 25 June 17 June 23 June 25 Jyne 25 Jnneds June 17 June 30 Pig Wg Ltd (Can).$3.50 Pitts Thritt Corp.if'se ot June 10 June 30 or 3 Rockville Willimantic Ltz 7% vr031.98 Do. 6 pf.. [ 8150 Bt Croix Pap Co pf.53 San Cruz Pori Cm. 31 June 20 chwartz (B) cl A | June 20 | June 2 June 30 | June 15 | & Ac Supersilk H M p! Sussex. T AR N B (Piits) 3¢ w & Lt Corp s1 June 15 {old, June 30 June 30 June 26 ~ June 26 July "1 July 15 51.60 3 $1.20 Westn (Bait) .80¢ Wilson Line Inc % ot Wyo B& Zoller (W) Co pf.$1.75 Allled Gen 33 pI... Arrow-Hart & ‘man Elec . Tennessee Eléc 5% 1st pf.. ] 0On® a®ud O OO POLOOLUD WOOL O OWOO O DwOO LOWPw wWOOOOPW LOOOD: LnZD' ERRRZEZ0000 . « Washington Produce Butter—One-pound prints, 28%; tub, 3. Eggs—Hennery, current re- ceipts, 16%3a17. Poultry, . alive—Spring brollers, 3 unds and pver, 33a34; 2 to 212 pounds, | 32a33; smaller, 28a30; Leghorns, large, | 24a25; small, 20a22; hens, large, 20a21; | small, 18a20: Leghorn hens, 15al6; roosters, 12a13. Dressed Spring broil- ers, 3 pounds and over, 37a38; 2 to 213 pounds, 36a37; Leghorns, large, 28a30; small, 24a25; hens, large, 25a26; small, 23225; Leghorn hens, 18a20; roosters, 15a16; Long Ysland ducks, 22a23. Meats—Beef, 1215a14; veal, 14; lamb, 18a20; pork loins, fresh killed, 23; frozen, 17a18; fresh hams, 1713; fresh shoulders, 13:. smoked hams, 1 smoked shoulders, 12; strip bacon, 2 lard, in bulk, 10; In packages, 11. Live _stock: 6.50a7.25; light and medium. pigs, 7.00a 780; roughs, 3.50a calves, 4.00a 8.00; Spring lambs, 5.00a7.50. Fruits—Walermelons, 55a75; canta- loupes, jumbos, 3.25a3.50; standards, 3.00; ponys, 2.50; flats, 1.25; honeydews, 2.25a2.50; hone, s 50a3.50; cher- Ties, homegrown, 3.00: oranges, Califor- nia, 4.00a6.00:. Florida, 5.00; plums, 1.50a2.50; lemons, 6.00a6.50; pineapples, 3.00a3.50; rhubarb, per 100 bunches, 4.00; limes, per 100, 1.75; peaches, 2- peck baskets, 1.75a2.00; bananas, 1.00a 3.00; blackberries, 3.00023.50. Vegetables—Potatoes, new, 2.25a2.75; 120-pound sacks, 2.50; tomatoes, 18a20; Mexico, lugs, 2.00; Florida, 6-pan crates, 2.50; Mississippi, flats, 80a90; okra, 3.00; | string beans, 75a1.25; limas, 2.7523.00; kale, 40a50; spinach, 40a50; carrots, per | 100 bunches, 4.00a5.00; beets, per 100 bunches, 1.5022.00; onions, Bermudas, 50 pounds, 1.75; Spring onions, per 100 bunches, 2.50; radishes, per 100 bunches, | 2.50; corn, 2.00a2.25: asparagus, 1.50a 3.00° celery, 5.50a6.00; cucumbers, per bushel basket, 125a1.50: peppers, 2.50a 3.00; lettuce, Iceberg, 4.50; home-grown, 1.00; cabbage, 40a30. THE EVENING STAR, WASHINGTON, D. C, TUESDAY, JUNE 23, 1931. CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, June 23.—The follow- ing is a summary of important corpo- ration news prepared by the Standard Statistics Co., Inc,, New York, for the Associated Press: News Trend. Crams Automotive reports estimated last week's output of 29 makes of pas- senger cars and trucks at 62,752 units, against 66,468 the preceding week and 86,836 & year ago. The main cause for this decline was the drop of 2,700 units |in Ford output. Preliminary statistics on average daily domestic crude production for the week ended June 20 totaled 2,476,~ 271 barrels, an increase of 32,668 bar- rels. This' estimate makes a very un- favorable comparison with the decrease of 11,350 barrels reported for last week. California production dropped to 518,- 000 barrels, a decline of 3,500 from pre- vious week, and although the decrease was smaller than last week's, the daily average set & mew low since the cur- tailment program. The price of domestic and -export copper was advanced !4 cent a pound. Kentucky State Court of Appeals up- holds the validity of the Kentucky gross retail store tax. The Companies. Chicago Rallways—Passengers carried by Chicago surface lines in May off 9.5 per_cent. Claude Neon Lights—Sales for 1931 to June 15 off 20 per cent; notes pay- able cut to $315,000; accounts payable lowered to $48.271. General Cable increases copper wire price 14 cent to 10 cents a pound in carload lots. Goodyear Tire & Rubber—Second quarter renewal business running 10 per cent to 15 per cent ahead last year; | original equipment demand lower. Laclede Steel—First half earnings | estimated around 50 cents a share, Russia. Hot, dry weather continues in | Southern and Central European coun- tries. The United Kingdom has been a good buyer of North American old crop wheat, but interest in new hard Winters is said to be extremely light. Europe still does not seem excited over | the Spring wheat outlook in the West- | ern hemisphere. Bhe Forning Star | indicated around $150,000; Lima Locomotive Works — Unfilled orders said to total only few thousand dollars; locomotive division on 4-day week with 327 employes. Lucky Tiger Combination Gold Mines 12 cents dividend, payable 3 cents quar- terly; last previous payment 10 cents, made in December, 1930. Marion Steam Shovel first half loss had loss ADVERTISEMENT Rivcy ol it RECEIVED HERE The Quick Way to Supply Wants Is Through Star Classified Ads —because The Star is so universally read—and the Class- ified Section recognized as a clearing house for those with wants and those who can supply them. Leave copy for The Star Classified Section at ‘any one of these Branch Offices—for prompt service. Northwest 11th and Park rd.—Arm- strong’s Pharmacy. 14th and P sts.—Day's Pharmacy. 1135 14th st. — Marty’s Cigar & Magazine Store. 17th and Que sts.—Ken- ner's Pharmacy. 15th and U sts—G. O. Brock. 2901 Georgia ave.— Har- vard Drug Store. 2912 14th st.—Colliflower Art & Gift Co. 3401 14th st.—Bronaugh’s Pharmacy. 14th and Buchanan sts.— Hohberger’s Pharmacy. 14th st. and Colorado ave. —O’Donnell’s Pharmacy. 3209 Mount Pleasant st.— Mount Pleasant Cigar and News Shop. 1773 Columbia rd.—The Billy Shop. 2162 California st.—Co- lodny Brothers. Wardman Park Pharmacy. N. Y, N.J. aves. and M st., —Sanitary Pharmacy. 1st and K sts.—Duncan’s Pharmacy. 7th and K sts.—Golden- berg’s (time clerk’s desk). 7th and O sts.—Lincoln Drug Store. 7th st. and R. L ave.—J. French Simpson. 11th and M sts.—L. Forster's Pharmacy. 9th and U sts—M. H. Hunton’s Pharmacy. Ga. ave. and Upshur st.— Petworth Pharmacy. 221 Upshur st.—Monck’s Pharmacy. 5916 Ga. ave.—Brightwood Pharmacy. Ga. ave. and Kennedy st. —Lampkin’s Pharmacy. 2901 Sherman ave.—Sher- man Ave. Pharmacy. 6224 3rd st.— Stewart’s Pharmacy. 1905 Mass. ave.— Dupont Pharmacy. 18th and Fla. ave.—Bern- stein’s Drug Store. Fla. ave. and 1st st.—N. Reiskin. North Capitol st. and R. I. ave. — Parker’s Phar- ave—J. Louis i 21st and G sts.—Quigley’s Pharmacy. 25th st. and Pa. ave— Herbst’s Pharmacy. 3315 Conn. ave.— Joll's Newsstand. 5500 Conn. ave. ° —Circle Con- .fectionery Store. Wisconsin ave. and Macomb st—Harry C. Taft. 4231 Wisconsin ave. — Morgan Bros' Phar- macy. Takoma Park, 359 Cedar st. —Mattingly Bros' Phar- There's One Near You Georgetown 30th and P sts.—Morgan Bros.'! Pharmacy. 30th and M sts.—Brace’s Pharmacy. 3411 M. st. — Moskey's Pharmacy. 2072 Wisconsin ave.— Haney’s. Wisconsin ave. and O st.— Donahue’s Pharmacy. 35th and O sts.—Sugar’s Drug Store. 5104 Conduit rd.—Modern Drug Store. Northeast 208 Mass. ave.— Capitol Towers Pharmacy. 4th and H sts.—Home Drug Store. 907 H st.—Garren’s Music Store. 12th and Md. ave.—Luck- ett’'s Pharmacy. %th and Md. ave.—Louis F. Bradley. North Capitol and Eye— Kenealy’s Pharmacy. 20th and R. I. ave.—Col- lins’ Pharmacy, Wood- ridge. 3500 12th st.—Brookland Pharmacy, Brookland. 4th and R. I. ave.—John G. Biggs’ Pharmacy. Chesapeake Junction—Dr. F. L. Wight, jr. Southwest 10th st. and Va. ave.— Herbert’s Pharmacy. 816 414 st.—Harris’ Drug Store. 41, and L sts.—Columbia Pharmacy. Southeast . 3rd and Pa. ave—0'Don- nell’s Drug Store. 8th and Eye sts.—F. P. Weller’s Pharmacy. 11th and Pa. ave. —Fealy’s Pharmacy. 1907 Nichols ave., Anacostia — Healy’s Drug Store. 13th and East Capitol sts. — Lincoln Park Pharmacy. 2204 Minnesota ave. — Sloan’s Drug Store; F. S, Boisfeuil- let, prop. $108,732 in 1930 period: has cut over- head expenses about $500,000 annually; operations currently averaging about 85 f:rz cent of capacity; current asset ratio Market Street Ry. May surplus after charges $62,805, against $61,527; 12 months, $709,275, against $867,590. Minneapolis, St. Paul & Sault Ste. Marie Ry. (including Wisconsin Cen- tral) May deficit after charges $605,- montha deRelt $5.395820. against dol months’ deficlt $3,322,821, efl- cit $2,795,193. Norfolk & Western Ry. May net oper- ating income estimated about $1,400,- 000, 51 per cent below year ago. Oklahoma Natural Gas gross reve- nues 12 months to April 30 off 11.6 per cent; gross income off 8.3 per cent. Puget Sound Power & Light May gross off 6 per cent, net operating reve- nue off 45 per cent; 12 months’ gross off 1.7 per cent, net operating revenues up_1.6 per cent. Roan Antelope Copper Mines—Mill treat:d 14,900 tons of ore averaging 3.9 per cent copper in first half of June. Skelly Ofl passed preferred dividend; paid $1.50 May 1. Southern California Edison May gross up 1.9 per cent, net before depreciation up 5.6 per cent; 5 months gross up 2.3 per cent, net up 4.9 cent. Austin Nichols & Co. $5 prior a stock ghare earnings, year ended April 30, $2.37, against $5.01. Colonial Beacon Ofl bulk gasoline price ¥ cent a gallon at leading New mnmé ports. General Electric—Reported movement is under way to regulate production in electrical refrigerator industry. Jones & Laughlin Steel gets orders g’fi 17,000 tons of pipe from Shell Union American Department Stores April quarter net income after interest, but before reservas for erganization ex- pinses and depreciation, $9,202, against deficit $5,897. Borg-Warner Corporation gets order for several thousand clutches from Chrysler Corporation. Boston & Maine Rallroad reported g::rfln' afrplane service to seaside Canada Bread, Ltd., first and second preferred dividends thought earned by & fair margin in past fiscal year. Consolidated Chemical Industries— Better earnings indicated for second quarter. Foundation Co. of Canada, Ltd., com~ mon share earnings, year ended A 30, $2.17, against 3‘;"” i Hoover Steel Ball omits common divi- dend; pald 15 cents April 1. New' York Central Railroad, 54,100 odd additional shares of Delaware, Lacka- wn::; &“}V:Ltern common stock re- ported acquired, bringing ‘holdings oblitt-Sparks Indusf for first half e l.edtfl': :;:.{nmw 1930 period when $171,792 was r:med Oliver United. Filters omits B dividend; pald 12}, cents April 1. Postal Telegraph 1931 net expected to make favorable comparison with pre- vious year because of economies; auto- m‘l;i:ulpplnm on 80 per cent of MARKET APPRECIATION HAS REACHED BILLIONS Special Dispatch to The Star. NEW YORK, June 23.—Translated into terms of appreciation in market value, the moratorium proposal has added billions of dollars to the wealth of the world since last Priday. A 10-point average rise on the 1,300~ shares listed on the New York Exchange represents & “mark- n values of approximately $5,- 000,00,000. More than this has been plug%o to the credit of American se- curities in the last two stock market sessions. To it must be added the heavy gains in stocks quoted on the New York Curb Exchange and ‘in all the bank and insurance company %{Ie; that have been buoyant re- It is estimated that the value of grain and cotton has increased nearly $1,000,000,000. Then there are the gains that have taken ylace in a long list of cther commodities. The market value of German dollar bonds has been increased about $50,000,000 since Fri- day. - There also has been a gain in other foreign dollar issues as well as substantial advances in domestic bonds. markets have been even more buoyant than in New York, so that the total addition to potential wealth would readily work out at a figure uivalent to the total American debt | of about $16,000,000,000. Better Values, Better Terms, Better Service. NATIONA 0il Development Pool. NEW YORK, June 23 (#)—Four oll companies, headed by the Standard Ofl Co. of Indiana, have entered into an agreement to pool development and producting operations on & 1,000-acre tract of proved land in East Texas, re- ports in- Wall Street sald. The Stano- lind Oll & Gas Co., subsidiary of Stand- ard of Indiana; Continental Oil Co., Simms Petroleum Co. and possibly the Atlantic Refining Co. were sald to have completed negotiations for unitization szth!lr properties in northern Gregg southern Upshore Counties, S0 wdered dry locusts are lour for bread. In Africa mixed with Telephone National 5000 For immediate delivery of The Star to your home every evening and Sunday morning. The Route Agent will collect at the end of each month, at the rate of 13 cents per day and 5 cents Sunday. Remember, What You Buy, We Guarantee, ¥ The BUSIEST FURNITURE STORE in the CITY—and here are 9 REASONS WHY!! i E 4 Stunning | Pieces, 88 AR You need only ’u’f-’:‘s Try to Match These Values! | i [T Hiig] ll ) glance at the accom- panying picture to see the beauty and smartness of this suite. The group ronsists of dresser, vanity, chifforabe and full-size bed of fine cabinet 1woods in walnut finish. Carefully constructed and beautifully finished. Artistically Covered in 100% Mohair Includes the settee, Bunny chair and club chair pictured.. They are splendidly upholstered with high-grade, 100% mohair (sides and backs in self-tone velour). Each of the pieces has reversible spring-filled cushions covered with moquette, Liberal Terms 9 Cal;ming Dining Pieces Of walnut veneers combined with well-seasoned cabinet woods. The suite comprises: Buffet, china closet, extension table, 5 s88 side chairs and 1 arm- chair. Fully guaranteed. Use Your Credit At this low price you may sclect a hand- some bed room suite, a beautiful living room group or a lovely dining outfit. Each and every piece offered carries our guarantee of absolute satisfaction. —and Free Gifts of Your Own Choosing With Any Suite Beautiful gifts. Useful gifts. A splen- did choice of them—Free—vith the pur- chase of any of these suites. L o — ] &6 Bt Your Choice Odd Bed Room or Dining Room Baby Swing For Porch Use 49¢ No Phone or Mail Orders Sturdily Made No Phone or Mail Orders Rt Fiber Rocker 33 .98 Woven Seat and Back 50c a Week Refrigerator $15.95 A fine refrigerator with spacious food and ice com- partments. Golden oak cabinet. 0il Stove $1375