Evening Star Newspaper, June 26, 1931, Page 15

— FOREIGN CURB LIST | 15 SHARPLY HIGHER, | ~Prev. 1931~ fll‘l:\. Low. Advance Also Recorded In] P 5 19% Domestic Shares—O0il Is- | g sues Are Active. i BY JOHN A. CRONE. Special Dispatch to The St 1 NEW YORK, June 26.—International ; securities featured an active and strong curb market today. Popular domestic| issues like Eleciric Bond & Share and | Cities Service, up 2 and ' points, re-| spectively, also bulked large in total; dealings, Possibilities that some sort of debt | plan may be offered to South American | countries brought brisk buying of Bra- zilian Traction, American & Foreign | Power warrants, International Petro- leum, Creole Petroleum and Venezuelan Petroleum. European and Canadian issues were | by no means neglected. Several large | lots of Woolworth, Ltd., common umel‘ out at fractionally higher prices. Ital- ian Superpower A, Ford Motor, Ltd.; Hiram Walker, Imperial Ofl of Canada, United States & Overseas Corporation and others turned upward. Early trading in the oils was encour- aged by higher prices offered for crude in the Kettleman Hills district, but these cheerful California advices later were somewhat offset by rumors of Soviet gasoline imports into Philadelphia, with some of the product reported to be des- tined for Detroit. ¥ ‘The Domestic Standard OIll issues were virtually unchanged during the forenoon and even many of the mis- cellaneous oils, like Guif of Pennsyl- vania, lagged. Demand for the pipe Nines quickened, however, with Eureka Pipe Line, up 2 points, leading the ad- vance. It was & South American issue, Anglo-Chilean Nitrate, that headed the advance of the mine shares today, though Newmont Mining and United Verde Extension in the copper division cutdistanced all other mines in point of gain during the first two hours. Interstate Power of Deleware prefer- red, with a rise of 113 points, in the utilities; Pratt & Lambert, up 3%, in the specialities; Great Atlantic & Pa- cific Tea, up a point, in the grocery chains; Aluminum Co. of America, up 11 points at times, in the higher-priced industrials, and National Bond & Share, up 2%, in the specialized trusts, were cutstanding movers in their re- spective groups in midsession. Cleveland Tractor and Deere & Co. led the farm implement group. A. O. Smith did best among the pipemakers. Niles-Bement-Pond was dull despite the announcement that Pratt & Whitney, a subsidiary, had obtained special work from General Motors to keep it busy [ day and night until September. CHICAGO DAIRY MARKET. CHICAGO, June 26 (#).—Butter— Receipts, 11,263 tubs; firm; prices un- changed. Eggs—Receipts, 17,749 crates; firm; exira firsts, 161 ; fresh graded firsts, 15'2; current receipts, 1412; storage packed firsts, 16%; storage packed extras, 17%. CHICAGO STOCK MARKET By the Associated Press. CHICAGO, June 26.—Following is the complete official list of transactions in stocks on the Chicago Stock Exchange today: Bales. STOCKS. _ 600 Acme Steel . 10 Adams Mig 300 Allied Prod . High. Low. Close. 30 26% 30 18% 15% 18% 18Y% 15 e it 851 00 Autom: Wash . 100 Bastian-Blessing 13050 Bendix Aviation 12350 Borg-Warner . Borg-War pt 250 Brach & Sons ity 200 Chic Investors 2300 Cities Service 100 Community Tel 1400 Cont Chicago D Sec .. 50 Corp Sec ctis Co (o e = R0 e B neaen 2 . ks Mg o3se e SN e PRI e 8 5 wBuadEe.Sa8alEsREtad! 20 Monroe Chem’ 750 88,5 SHTY D238 03B TeE ! FEESS FIE s :uA:t.hwdl::n u;;&n"mum 2| Whicn shows those stocks were sold in sold odd lots. Add 00. Open. Hish. 110 10 20 9% 4% Stock ana Dividend Rate. Acme Wire v.t.c. (2). Afiiated Prod 1.6v. . Aluminum Co of Am 1650s 138 AluCoof Ampf (6). 4 96 AmCit PEL Bb10% . Am Corr P A 1b10%) Am Corp (f15¢). Am Cyanamid B Am Deypt Stores. Am Equities. Am For Pow war. % Am Founders Am Gas & Elec (21). Am Invest Inc (B).. Am Invest war... Am Lt & Trae (2%). 5§ Am Laundry Mach 2.100s Am Maracaibo 12 Am Natural Gat Am Superpcw (4! Am Util&Gen (B)vte Am Yvette Co (25¢). Anchor Post Fen Appalachian Gas wr. Arkansas Nat Gas... Arkans Nat GasA... Ark N G cu pf (80¢). Armstrong Cork (1).250s Art Metal Wks (60c) 1 Assoc El In Ltd 30c. Asso G&EL (A) (a1). Assa G&El 2ll ct 1.60 Assoc G & El war, oc G & E pf (5).. Ass0 G & Elct (8) Atl Sec cu pf ww( Atias Utll Corp., ... Atlas Utilities war. . Auto Vot M cv pf pt. Aviat Sec of N'Eng.. Bahta Corp. Beneficial 1 4 1 6 . 92 % 1 1 Bulova cv of (3%).. Bunker Hill & Sulliv. 2 BurcoInc........... Burma rets 127 3-5e., Canada Marconl. ..., Carib Syndicat A Caro Pwr & Lt pf (7) Celanese Cp pf (7)... Cent Pub SvcA b10% Cent Stat El (b10%). Centrifug Pipe (60c) Chain Store Dev. ChatPh Aln.v. (1).. 1 Citles Service (g20c) 153 Cities Serv pf (6 1 Clev El llum pt (6).. 208 Clev Tractor (80c) 2 Colombia Syndicaty 2 Colon Oil, 2eden 128 Col O11 & Gas vte.... 4 Co Picture vic (75¢). 4 Cmwith Edison (8). 200s Cmwlith & Sou war.. 117 Com Wa.: Ser gl2e 19 Comstock Tunnel 1 Consol Copper. 7 Con Gas Balto (340). _ 1 Consol G B pt A (5).. 258 Consol Gas Ut A 2.20 1 Consol Retail Stores. Contl Chicago Corp. . Cont Shar Cooper Bessemer Cord Corp. .. Ccrp Sec Ch (b6%) .. Corroon & Reynolds. Cor & Rey pf A (6) Creole Petroleum Crocker Wheeler Crown Cent Petrol. .. Cuban Cane pr opt Cuneo Pre: Cusl Mex Darby Petroleum Dayton Alr & Eng. Deere & Co (1.20) De Forest Radlo. Detroit Aireraft Cp Dresser Mfg B (2). Driver Harris new. Dugquesne Gas Corp. . Durant Motors. ... Duval Tex Sul wi UtilInvA.. East Util Assoc cv. East Utll Assoc (2).. Elec Pow Assoc (1). % Elec Pow Asso A (1) Elec P & Lt op war El Sharehold (b§% Emp Corporation. Emp G & E cu of Empire Pub 8ve (A). Eureka Pipe L (4)... Europ Elec deb rt Evans Wallow Lead. Fairchild Aviation, FlintkoteTCo A... Ford M Can A (1.20). Ford Mot Can B 1.20. Ford Mot Ltd 36 3-5e 4« Foremost Fabrics. 4 Foundation For 8! Fox Theater Cl1 A, Gen Alloys. Gen Aviation. Gen Empire Cor (1). 1 Gen G&E cv pf B (6) 2008 Gen Leather Co. . 59 Gen Thea Eqovpf3. 15 Gen Waer Wks&E1A 1 Gleaner Comb Harv.. Glen Alden Coal (4).. Gold Seal Elec new. Goldman Sach T C. Gorham Mt vte (12). Gra'phne Ltd cfs 56¢ Gram Ltd c.od.(56c). 1 9% Gt At&Pac Tea nv(§) 205 201 Groc Strs Prod vte. . 4 Gulf Ofl of Pa (1%). 61 Hamilton Gas ret Happiness Candy Hecla Mining (40¢).) Helena Rubenstein 1 3 6 15" 1 3 Hou-Hercvpf A2% Hudson Bay M& S Humble Ofl (1234). ., Hydro Elec Sec 1.40.. Hygrade Food Prod. Il Pow & Lt pf (6).. 508 Imp Ofl of Can (50¢) 21 Indiana Pipe Line(1) 1 Insull Inv (b6%).... 7 Insull Util 2d pf (6). 50s Insurance Sec (40¢c).. = BN g e Int Superp ( -snare ) 10 (2508), Low. Close. 2% 24 ividend r: Stock and Sales— Dividend Rate. Add 00. Open. Int Utllitles A (3%). 3 Int Utilities B. 62 Int Utll pt pf (7) Interst Pow pf (7). fuallan Superpow A Kolster-Br (Am Sh). Kress SH sp pf 60c, . Lackawanna Sec (#) . Lefcourt Realty 1 Lieh Coal & Nav 1.20. 15 Leonard Ofl.. : Lily Tullp Cup (1%) Lone Star Gas n 880. Long Isld Lt pf (7).. Louisiana Lan & Ex. Mac! Stores (1). Magdalena Svnd. .. Mareconi Int Mar .367 Marion Steam Shov Mass Pow & Lt. . Mass Pow & Lt pf. Mavis Botthng (A) May Rad & Telev(1). Mead Johnson(t4%) * Melville Snoe pf ww. Memph N G Co (60c) Merritt Chap & Scott Mid Sts Pet vic A 22¢ Mid WSt Ut 1%).. Mid West Ut (b8%). Midland Unit (b6% ) Mo-Kan Pipe L (A). Mohawk Mining (1). NatBd & 8 Corp (1). Nat Sugar NJ (2). New Eng P S pr In(6) 10s wEng T& T (8) -Hud Pow (400) -Hud Pow A w.. 1ag Sh Md (40¢). .. es-Bemt-Fond (1) 1SGINg. .. ouseiens Noma Elec Cp(40¢). Nordon Corp Ltd.... Nor Am Aviat A war, Nor St Pow pf (). Ohl Br pf (6).... ©Ohto Copper. . Ohio O1l n cu pf (6) Outboard Motor B... PacG&E1lstpf1%. Pac Tin Cop spec (2) Paramount Cab Mfg. Parker Rust Pr (3). . 16! Pennroad Corp (40¢). Peoples LI&Pwr (A) Perryman Electric. . Philip Morris Inc. .. Phoenix Secur Corp. Pilot Rad Tube A. .. Pitney Bowes (b4 %) Pittsbgh&L E(110).. 5 Plymouth Ofl (1). Pond Creek Poncha Pratt & Lambert (4) Premier Gold (12¢).. Producers Roy Corp. Propper McCallum s a3 BRNREN R RN n B eSS R mona e g » 2 Pub Utll Hold Cpxw 1 Puget 84 P&L of (§) 10s Pyrene Mfg (80c)... 1 Lo Republic Gas Corp.. 3: Reynolds Invest Richfield Of1 Cal & St Anthony Gold.... St Regis Paper (60c) Salt Creek Con (28¢). Salt Creek Pro(1.40). Schulte Un 5e-31 St. Seeman Bros (3). Segal L & H (a50c). Seiberling Rubber. Sentry Safety Cont. » - o & EarnTefrrrrTnrnanSa omme Sherwin Wil pf (6). Silica Gel ctf So Am Gold & Plat. . South Penn Ofl (1). . S W Gas Utilitles. .. Spleg May Stern pf..775s Stand Oll of Ind (2).. 85 Stand Ofl of Ky 1.60.. 1 Stand Oil, Ohio (5).. 40s 102 Starrett Corp pf (3).. 1 Stetson (J B) (4). 5 Strauss (Nathan) Strauss Roth... Stutz Motor Car. Sunray Ofl (b6%) Swift & Co (2).. Taggart Corpn Techaicolor, Ine. .. Teck Hughes (60c). Tonopah Belmont Trans Lux DLP8.. Tri-Cont Corp war. Tri-Utilities. .. Tubize Cantilion (B) Un Nat Gas Can (1).. Union Ofl Assoc (2). Unit Lt& Pwr pf (6). U S Elec Power ww. U S Finishing. . U S Foll (B) (50¢) U S Lines pf.. . U S & Overseas war. Unit Stor - Unit Verde Exten (1) Utah Apex. Utah Metal & o = %[O FOTTOTTeS > o Vacuum Ofl (2)..... Venezuela Petrolm. . Vic Finan Corp(40¢) Walker (H) (50¢)... Wenden Copper. West Alr Exp (80c).. 9% Wlworth (FW) Ltd.108: 114 Woolworth Ltd pf. .. 5% ates . dol UL Sl e o s, g o Blus 3% in stock. k ¥ » BN A= —a 6% % 13% in K, us 10% in stock. nPlus 8% in stock. p Pald Iast year—no reguiar oo oo B35 Sam ! SBEs “ NEW YORK BANK STOCKS | NEW YORK, June 26 (#)—Over-the- | ¢apital the Rounter market: Banks, ’n’l“hcny Public In its company organ, The Lamp, the Standard Oil Co. (New Jersey) states that while a continued decline in com- his modity prices would lead to pressure for reduction of labor costs this would be a last, rather than first, resort. The company points out that industrial cur- tailment has been as generally as were plans for expansion a few years ago, cost of the depression. vestment earns ‘when labor is idle, the company states, and the lowest unit costs are secured by capacity operation. Price Cutting. “Labor today understands that its welfare is dependent upon the success of the business to which it contributes,” The Lamp says. “It cannot be well paid and receive continuous employ- ment in an industry which over a long périod of time is losing money. The danger in the present situation is, in Bid. Asked. fact, that extreme competi oversupplied market has led to wide- spread price cutting. “In & rrenod many important lines agricultural produce, mining commodi- ties and manufactured articles are be- ing sold at below w costs. adding that labor has borne with |2 Capl- | curren ition for an | Sovief WAGE REDUCTIONS ARE VIEWED AS LAST RESORT OF INDUSTRY In the opinion of the Jersey com- }un the Soviet is seeking. to build up oreign credits while disregarding costs Eaita”consumption of gasoling in Dae cap! ns on of e g United States of 3.14 barrels, the com- pany says. NEW SECURITIES. NEW YORK, June 26 (#)>=New se- curities offered today include: Taiwan Electric Power Co. Ltd., $22.- 800,000 40-year, sinking fund 5% per cent gold bonds, priced at 93% and interest to yield 5.90 per cent, by a syn- dicate headed by J. P, Morgan & Co. Birmingham Gas Co.’ $1,250,000 4% Y = i it 35 Eeand E'-‘E;gg B e 3 0 H z>=> 22 22 2 38 8! s2288 s2zasasensts: eE3sznts: ] N o & FESFEE FEF gug2nesEsensey 5 :>>> R 0. :ggga. ELLNTY LI TG 27 gEosisses? GG g FESIES ® 1.8 > H g H 2 o 5 £ = 3= - = 2528253 sem v & S F o 32 3 T 285 5 & 2! 883 ! 2 S riraa ol o Svpizt S *E5 & 5 o ¥ £ 38848 Sags 23! = . St S i Tol 0 H L 228e= Beiss e 3 £8 ofiTned, ::2«3:;.5...8.—» Tel LR 23 a b S 958 e o e a8, g St Real 5%s ties Service 5s ties Service b5 t Serv Gas 5) Y > 3 s 2000! Sasssansassnsss t;;» S AE S eR835293225828a% FEF SHPIRE SO 3 SEERIREE 5 00! 29 RE22BR3N238I2888I23388882 i) 52 193 2eest $58zeS senase; R RS ? 220 VR OEE R 23228 8eSIBI2RR2BI%2888828232! R ndepen: nsul Hysat n inter Pw Sec ntern Sec Am 55 ' ntersta Power 85 '57 BoESS SEEOSE IS S 3 Pow 55 A '47 100%% or_6s 36 xw 93 y Ut b5 H 61100 ppers G&C s '47. 99% e 55 * 1008, 10330 PRI T EEE EEREE Y WEE FEEEE SESSEE FERIFE 23528223823333882333352883323883 38322 iy Pw ontr L&P 5s B Dated July 1, 1951 BEuBuuiiavtiesSueds ;;;lggoc:zzzzzzzzzglfigzzzzz 3 Reid 35853 5553880 85 e o B 0 r00f 979y 25 aSoon! % ) uzgg zzo ::«' Ok, 2z & S £ g L LR E I Sunn & S aganbet Box ETT et ] 5 2 samaaEn i SRR i ZEoravuueenan! 0t - (3t " are’ i3t », - EpatapEasan oot gty Gg&»nnntfl‘-’-@ ) I EREICE A E LS AND ‘BOND AVERAGES By the Associated Press, FRIDAY, JUNE 26. 90.4 100.8 (Copyright, 1931, Standard Statistics Co.) S A 5 E2szasgeny 223532 Baae e, S2sacang L"‘:E; 2 55 A 8 Wiscon P&L 58 E FOREIGN BONDS, 8Asr Mig Bank 7s 7V 9 Cauca Valley 75’48 16 Chile Mtg Bk 6s Com Pr Bk 8% m 10 Danish_Con 3i5s 2 s '3 6125 '41 With warrants. ithout warrants. FOREIGN EXCHANGE. (Quotations furnished by W. B. Nominal gold value. Hipbs & co) lling checks today. PP ‘Athens, Madrid, Vien: B crown. Stockholm, crown ~ $22,800,000 Taiwan Electric Power Company, Limited FORTY YEAR SINKING FUND 5%% GOLD BONDS Unconditionally Guaranteed by the IMPERIAL JAPANESE GOVERNMENT 5 As to Principal, Interest uzui Sinking Fund by Endorsement on each Bond Interest payable January 1 and July 1 Special Dispatéh to The Slar. : NEW YORK, June 26—The upward movement in cotton prices gaified mo- mentum today and under the heaviest volume of business so far this week Tose about 45 points and closed nc_::_;wp 3 to 45 points higher than on NG / ‘The tinued foreign demand, with increased buying power from commis- sion house and trade quarters, called for a quantity of contracts difficult for the market to supply arnd the lst ciosed at the peak. Spots were advanced 45 points to 10.35, Cotton range.: Jul; Dctobe December January March Gr?lin Market By the Assoclated Press, CHICAGO, June 26—Higher in prices and broader speculative bu';:;ng developed today after a surprise con- ference between Chairman Stone of the Federal Farm Board and President Hoover. Simultaneous reports that the Farmers National Grain Corpora- tion, & Government sponsored agency, had~ ceased sellings June delivery of wheat were much commented upon. Optimism about an agreement with France relative to debt plans had a further stimulating influence. Wheat. closed unsettled, 7all cents up. corn 1%a2% advance, oats show- ing_%alY gain, and provisions 2 cents to 35 cents down. y sg! 'o‘/l o BALTIMORE STOCKS. Special Dispatch to The St BALTIMORE, June 26— 95 Consol 95 Emerson Wi e delity & Gui 302 E 70 Western Maryland Dairy 4 | BONDS. 66'2 | 3000 United Rwy & Elec lst 4s.. 1000 United Ry & Elec income 4s SILVER QUOTATIONS. NEW YORK, June 26 (#)—Bar silver steady and unchanged at 28 . . Widening of the Brassels-Charleroi Canal, in Belgium, will cost $5,600,000. REAL ESTATE LOANS Made at Low Interest Rates TYLER & RUTHERFORD lications 1 a y for 3. 5 or 10 vears, if so 1520 K St. N.W. Due July 1, 1971 o cumulative semi-annual sinking fund, with payments beginning July 1, 198}, and calculated to be sufficient to redeem the entire issue on or before maturity, is to be applied to the purchase of Bonds if obtainable at or below 1009, and accrued interest, or, if not so obtainable, to the semi-annual redemption, commencing January 1, 1935, at 100% and accrued interest, of Bonds called by lot. Redeemable also in whole or in part, at the option of the Company, on 60 days’ notice, on July 1, 1348, interest payment date thereafter prior to maturity, at 100% and accrued interest. Coupon Bonds in denomination of $1,000. Mficlpul and interest payable in New York City at the office of The Yokohama Specie Bank, Ltd., tn United Sta: es of America gold coin of the present standard of weight and fineness, without deduetion for any Japanese taxes present or future. His Ezxcellency, Junnosuke Ineuye, Minister of Finance of the Imperial Japanese Government, has addressed to us the following letter in connection with this issue of Bonds: The proceeds of the $22,800,000 Taiwan Electric Power Company, Limited, Forty Year Sinking Pund 5%% Gold Bonds are to be used to provide funds for the expansion of the Company’s facilities by the completion of the 100,000 kw. hydro-electric development at Lake Jitsu-Getsu-Tan. This expansion is to be carried out in accordance with a plan adopted as a result of studies and investigations eonducted under Government supervision. The Imperial Japanese Government, under act of Parliament sanctioned and promulgated on March 27, 1929, has granted. its guaranty as to the payment of principal, interest and sinking fund by endorsement on each’of these Bonds. In taking such action the Government has been actuated by its interest in furthering industrial development in the Island of Taiwan (Formosa). The Government was instrumental in the formation of the Ogm. and now owns slightly over 36% of the paid-in Capital Stock. A copy of a letier descriptive of Taiwan Electric Power Company, Limited, from Mr. Kanichiro Matsuki, President of the Company, may be obtained upon application. THE ABOVE BONDS ARE OFFERED FOR SUBSCRIPTION, SUBJECT TO THE CONDITIONS STATED BELOW, AT 93%% AND ACCRUED INTEREST, TO YIELD 590% TO MATURITY, Subscription books will be opened at the office of -J. P. Morgan & Co., at 10 o’clock A. M., Friday, une 26, 1931. The right is reserved to reject any and all applications, and also, in any case, to allot @ smaller amount than applied for. 4l subscriptions will be received subject to the issue and delivery to us of the Bonds as planned and to the approval by counsel of the form and validity of the Bonds @nd of the relevant documents, proceedings and authorizations. The amownts due on allotments will be payable at the office of J. P, Morgan & Co., in New York fundssto their.order, and the date of payment (on or about July 7, 1931) will be stated in the notices of allotment. Temporary Bonds, exchangeable for definitive Bonds when received, are to be delivered. J. P. MORGAN & CO. THE NATIONAL CITY COMPANY THE YOKOHAMA SPECIE BANK, LIMITE New York, June 26, 1981, : ] i KUBN, LOEB & CO. ' FIRST NATIONAL BANK, New York