Evening Star Newspaper, June 28, 1931, Page 64

FINANCIAL. WASHINGTON, D. C, HE above the Cleveland Trust Co. annual } 3 rately, and the 10 were next. The annual figures from 1901 to 1919 are t BONDS RREGULAR N UET MARKET | Foreign List Shows Small Losses in German Issues. | U. S. Group Dull. BY ALEXANDER HENDERSON, Associated Press Financial Writer. NEW YORK, June 27—The bond market fluctuated irregularly today as activity kept within the usual limits ©of a short session. Foreign obligations provided much of such tradirg as developed. The Ger- man 5'5s of 1965 lost small fractions on a steady turnover. while the 7s of 1949 were less active but more vulnerable. | German Central Agricultural Bank 6s of October, 1960, dropped about 1 point. French 7s of 1949 lost fractions, but the 71y held steady on quiet sales. Uru- guayan 6s, Polish 7s and Colombian 6s of October, 1961. receded. Offsetting these losses were gains in such diversi- fied issues as Australian 55 of 1957, Austrian Ts, Belgian 7s, Brazilian 6's of 1926-57, Chilean 6s of 1960 and Peruvian 6s. Loans of the United States Govern- ment were dull. Sales of most of this group were limited and no sales of any sort occurred in others Railroad obligations lacked a definite trend. Issues to gain on active trad- ing included Chicago & Northwestern 4%s, Erie 58 of 1975 and Pennsylvania, series D, 4155 and St. Louis San Pran- cisco 4!4s of 1978 The Interstate | Commerce Commission has authorized the latter carrier to issue $14.523,100 of temporary lien 6 per cent, series E, | mortgage bonds, to be pledged under a consolidated mortgage and to issue, | pledge or sell $118,316,000 of temporary consolidated mortgage, series B, 6 per | cent bonds. St. Paul 5s of 2000, Balti- more & Ohio 4155 of 1960 and Tlinois | Central 4% of 1966 showed varying de- grees of strength Public Utility bonds were quiet most of the time and declined irregularly and narrowly. Industrial bonds moved within a narrow range also, but they were more active than the utilities, General Theaters Equipment €s and Missouri Pacific 5'5s of 1949 made good gains among the stock-privilege issues, most of which experienced narrow changes. | Baltimore Markets Special Dispatch to The Star BALTIMORE, Md, June 27 *ShlpAi pers of perishable goods, including live | poultry and eggs, are advised not to | ship anything to arrive here later than | Friday morning, as Saturday is a legal | holiday and, with all outlets being | closed, shipments arriving on the | Fourth would probably be a total loss. | While the live poultry market has | continued easy all week, with values | showing slight decline, an improved | demand is looked for next week for | the holiday trade and more liberal | ipments ~ 2re advisable, especially | large frying Spring chickens, 2 pounds | and over, for which there will be a good demand. The market closed today at 32 and 33 cents a pound for mixed colored Springers, 2!; and over, and 28 to 30 for 2 to 2! pounders, but smaller | «<hickens are not so desirable and move sicw at 24 to 26. Only Leghorn Springers, 2 pounds and over, attract | attention at 21 to 25, smaller stock | being neglected at 18 to 20. Old hens are in moderate reccipt, but ample for | the demand, which is limited at 17 to 21 for fowl weighing 3!, pounds and over, but Leghorns will not bring over 14 and 15 and all poor, thin fowl, as well as roosters, generally slow sale at 12 to 14. De d for ducks has eased off and prices are generally in buyers’ favor at 18 to 22 for ducks weighing 4 pounds and over, but smaller stock moves slow at 15 to 17. The market continues steady for pigeons at 20 to 25 a pair for both young and old. Egg Prices. The egg market, continues dull, there being little life to the demand, and all arrivals are being sold as current re- ceipts at 16 cents a dozen. There is very little trading on the exchange, most of the business being confined to street sales. New potatoes are in more liberal re- ceipts, and the market shows a de- cline, at 1.75 to 2.00 per barrel, but No. 2 stock will not bring over 1.00 to 1.25. | Old potatoes are holding steady at 1.75 to 1.90 per 100 pounds, with mixed, un- graded stock selling mostly at 1.00 to 1.25. Native and nearby garden truck in liberal receipt, and prices show a de- cline on most lines. Cabbage and beets both in excess of demand and hard to| move, even at discounts. The market continues a buyers’ market at the fol- lowing quotations: Large green aspara- | gus, 2.00 to 2.75 dozen: small to me- dium, 75 to 1.75; green beans, 50 to 75: stringless wax beans, 110 to 1.15: beets, 1.00 and 2.00 hundred: cabbage, 35 to 50 hamper; carrots, 3.00 and 4.00 hundred; cucumbers, 75 to 90 hamper: lettuce, 25 to 65 bushel; onions, 75 to! 1.00 per hundred: peas, 50 to "1.25| hamper; rhubard, 2.00 to 4.00 hundred; | spinach, 50 to 75 bushel; squash, 40 to 50 basket. Live Stock Prices. The live cattle market continues dull under only fair demand and ‘centered on first-quality stock. Most of the re- ceipts on the wharves, however, are of common undergrades and _generally slow sale at Inside prices. Quotations today at Lérhbnstreet \:’v'.h-rf: S ttle, first quality, pound, :Bee‘ o N ylop:: bulls, as to quality, 3 to 5; cows, choice to fancy, 4 to 5; common to fair, 2 to 3; oxen, as to quality, 3 to 5: calves, choice, 7 to 8; large, fat, 7 to 7'2; large, rough, 6 to 6',; thin, 4 to 5; rough and common, 4 to 5. Sheep, 1 to 2'5; old bucks, 2 to 3; Spring lambs, choice, 7 to Tl5: fair to good, 6 to §!5: small, thin, 4 to 5. Hogs, straight. 6 to 7; sows, 5 to 6: stags, 3 to 4. live pigs, 15 to 18; ghoats, 12 to 14. SILVER QUOTATIONS. NEW YORK, June 27 (#)—Bar silver i and % higher at 295, The ad- ce was due to buying for China and offerings limited. BOND SUMMARY FOR THE WEEK UNITED STATES GOVERNMENT. —19] Higl 102 105 103 103 107 109 2 104 1051% 1857 109% 71t 981a 8015 101 122 98 102 1031 76 108% 991y 101% 109 104% 1043 1104 99 105 9213 £8 a1 105 1104 104 36 106 1034 70t 93 6 10215 106 1081 10215 102% 10215 10814 108% 3 10915 74 9914 924y 95% 105% % 92 105% 86 9515 10915 111% 78 70 10214 1014 10015 480 101 7014 47 111 b 23 103 16 5 16 18 index prepared by Col. is composed of data from 1854 to 1901. and below normal were computed for each series sep.’l-‘ then combined values for each secries were means between one set of lines Low. 102 102 100 2 104 105 29 109 Low. 901 100 20 24 100 20 Leonard P. Ayres of index of manufacturing production with mineral production added, of %snd from 1919 to date the monthly figures of the Federal Reserve The fluctuations above (Thomas) index of industrial production have been used. All the data were reduced to a per capita basis. The computations of the fluctuations of each of the 10 series constituting the index from 1854 to 1901 were carried through to running from one prosperity peak to the next, and another ,include 1930, and the co-efficient of correlation between each of them similar set of lines running from each depression bottom to the and the production seriss running from 1901 through 1930 was | hose of the Thomas computed. Each of the 10 series was then given a weight based | 10 series in one. H 102 103 105 103 10: 107 . 109 .13 Stock and dividend. LIb S 1932 4. ... Lib 1st 41,5 1932 LAb 4th 4158 1933 3% 3%s 1940 43 3w 1943 47, ., 8 13 2 14 US 4% 1947-52 Stock and divitend Abram & Strans blgs 43 Allexhany Cuev 5844 Am Axri Chem 748 41.. Am Beet Sugar 6s'35. Am Chain 6s 1933 Am G Chm 5181949, .. Am Internation § %3 49 Am Natural G 634s 42 Am Sm & Ref Ist b5 '47.. Am Sugar Ref 6s 37 Am Tel&Tel cv 4148 3 Am Tel & Tel s f6x..... Am Writ Pap 6s 47 Argentine 5s June 69. Argentine 6s A '57. Armour & Co 41,8 39. H Atlantic C L 18t 48 '52. .. Atl Coast Line ¢ . Atlantic Ref deb b8 ‘37 Austra'ia 5 '55. Austria 7s B&Ogold 4s " B&Ocvdaks 33 Balto & Ohio b3 48 B&O10f 5895 B & O ref b3 D 2000, Balto & Ohlo 6s ‘96 B&OPLE& W Va 4 B&OS W Divbs 59 Bangor & Arcos 43 '51. Bank of Chile 648 '57. Bank of Ch{ Belgium 6355 .. .. 5 Bell Tel (Pa) ref by 48 Beth Steel p m 58 ‘36 = Bolivia 7sct 69. 103% ¥5 9514 103% 100% 104% 894 42 6419 Bordeaux 6s ‘34. Boston & Matne bs Brazil 614 1926-57 Brazil 85 '41. . Broadwy & 7th Av Brooklyn Manh 1st 6s A Brooklyn Unlion 68 '50. nada Ss Bz. . Canada National 434854 Canadian Natl 4148 A7 Canadian Natl 435 68 Can Nat July 5569 . Canadian Natl 58 69 Oet. Cauadlar Pacific deb 4 acific 48 49 ~ntrai Facific 5s 196 ertair-teed 548 1943 hesapeake Corp §8 47 Ches & Oh gen 435 '92 Ches & Oh{o 4155 '93 A Ches & Ohfo 43 s B ‘95 ChiB&Q4%s B 77, Chi B & Q ref 6571 Ch & Fas: [11 gen 68 '51. . ChiGreat West 48 '59. Chi M St P & P 5315 Cht M St P & P ad) 5s Chicago&Nwncv 4% Chi& N W 6%s '8 Chicago Rys b8 '27. Chi R 1& Pac ref 4s '34. . Chicago Rock Isl 41%s°'60 Chicago R 14%8A. Chi Unfon Station ¢ Chi Union Station 6%s. .. West Ind con . it Ind 5% °63. . Chile Republic 65 1960. .. Chile Copper s *47. Chinese Govt Ry bs ‘51 entra; CCC&StLrf4y)sE'TT. 1 CCC&StLbsD.. CCC&StLrets Cleveland Term bs B B Cleveland Terminal b %8s, Colombta 6s 1961 Jan. ... Colon Of] 68°38. . .. Colo & Sou ref 4%s ‘{6... Columb G & E deb 6s 52.. Comm Invest 54n'49. ... Con Coal (Md) Ist ref 65, Copenhagen 52, Cuba RR 58'52..... Cuba North 638 '42 Czechoslovakia 85 ‘61. ... Del & Hudson 6% Denmark 5% 1955. Denmark fs ‘42 Den & Rio Gi Den& R G We: Den & R G We: Detroft United 4 s '33 Dodge fs°40. . Duauesne 4% 1967 3 Dutch East Indies 65 °47. Dutch East Indfes 6s 62, _ East Cuba Sug %8 ‘37 I8t con 48 ‘Y6 en llen 43 '9| Erfe ref 5s ¢ Erle5s'75. Fiat 7s (xwar) "46. ¥iniand .8 50 ... Flor East Coast 6874 Fonda J & G 4%s 62 Normal | igh. Low. 19 10216 15 103 10423 102 34 6 10220 8106 1 6 108 23 113 Close Chge 10216 - 5 103 104 24 102 28 102 26 106 14 108 4 13 4 1 8 4 1 2 24 Low. 941y 68Y, 102°% 2 1eh 9513 78 107 48% 100 + : 1004 — 1 106's — 3 1014 + % 102% - %l 107% 110 661s +1' 66 45 2813 <4y 794 45l 63 411 B8y 2% 24 974 — 1y 1025 10214 35% 1 | | 1 134 | ot | —1931.— High. Low. Stock and dividend. High. Int Tel&Telcv 414839, 94% ben 10R 100 10714 1% 941y 9RIL 107 100% 1074 815 1024 98b 994 18l Kan City South 58 ‘50 Kan Clty Ter 1st 4= 60 Kan Gas & Elec 418 80, . Kendall 5les 48 (war) .. Kreug&Toll bs ct w1 '69.. Lackawanna S Lacledel%s D 60 Lehigh Valcn 43 Liggett & Myers bs oew's Inc 63 ex war'41.. Lorillard 6%s '37. . E Louls & Nash uni 43°40. . Manat! Sug s f 7%s ‘42 Market St Ry 75 A "40. Mexico 43 1904-854 Midvale Steel 68 '3 Milan 6% '52 MIEIR& L 18t re MSIP&SSMeYy . Mo Kan & Tex 1st 4890, Mo Kan & Tex ad) 5 '67. Mo Kan & Tex prIn 5sA. Mo Pacific gen ¢s ‘7| S Mo Pacific 55 A 6| Mo Pacifie 5 Mo Pacifie 55 G Missouri Facific 55 H '80. Moniana Power 53 1943. . Nassau Elec 48 '51....... at Dairy Prod 8%s 48.. t Radlator 6148 1947, . herlands 6s New Enzland Tel & New South Wales ‘57 N Y Centdebds'34...... Y Cen ref imp 68 2013, Y Cent deb 635 ..... Y Chicago & StL 4% 'T8 YCh& SLrerfksA.. ¥ Chi & StLouis 6s '32. 8810 R6in 86% 86% 105 524 5 °65. . . o Ry 4148 '62 North Amer Ed bs ‘57 North Pactfic 85 2047 North ‘97 Ore Wash 15t ref 4s '61 Ortent Dev 5%s 57 Pacific Gas & E1 § Pacific Tel & Tel Penna cn 4% Penn zen 4% Penna RR 4 Penn 4% =63, Penn b= 1964 Penn gen 65 '68. Penn 6%s '36. Peru 63 '60 Pern 7s. g . Philadelphia Co bs '67 Phil&Read C&1 1 Philips Petrolm 63 s'39 Pireill Co of Italv 78 '62. . Pittsbzh& WVa 4%s C '60 d 8= '50 Low. Close. Chge. | 106% 107 106 AENR JUNE 28, 1931—PART SIX. # HVNEESETNAAT Y LT3 v, ] 17 V SAENFAnCARN I RE AR on its degree of correlation with the production series. The 10 series with their effective weights are pig iron consumption 21, blast furnace activity 16, canal freight (New York and Sault 8t. Marie) 12, railroad freight ton miles 10, cotton consumption 9, rail production 9, coal production 8, construction of miles of new rallroads 7, locomotive production 6, and ship construction 2. The 10 series combined give results closely similar to those of the production series for the overlap period from 1901 through 1930. The heights of prosperities and the mRREuEEREEy eficient of correlation for the period is .95. Their average deviations for the iod are equal Whemhe annual J l 0| 1] 1 data were determined the monthly data were fitted to them. These monthly data were basd on the figures of the business index of the American Telephone & Telegraph Co. and on data for blast furnace activity from 1877 to 1919. Monthly data for bank clearings and for stock prices were used from 1861 to 1877, and those for security and commodity prices from 1854 to 1861. The dashed line represents the changes in wholesale commodity prices. The index used is that of Profs. Warren and Pearson (Cornell), depths of depressions are closely alike in the two series. The co—lrecomputed S0 that the average for 1929 equals 100. Net 90 4% +5% | Al 9% 100 107% + % 76 - %| 93 9Ty (Continued From Second Page.) . Btock and dividend. Studebaker Co (1.20) Sum O11 ¢11) Sun O/l pf (6 Superior Steel Symington Cla Telautograph (1.40). Tennessee Corp (50¢) . Texas Corporation (2). Texas Gulf Sulph (3)... Texas Pacific C & Ol Texas Pac Land Trus! Thatcher Mfg (1.60) Thatcher Mfg pf (3. The Fair (3.40). k. air of (7). ‘Thermotd Co. % W “ * “ % | “ - w ~ Wi wl Third Avenue. . Third Nat Inv(mb5e). .. Thompson Prod (1.20). Thompson Starrett Ce Thomp-Starr pf(3% ) Tide Water Asso ¢60c) Tide Water As O pf (). ‘Tide Water Ofl pf (5)... Timken Detroit Axle Timken Roller Bg (3). Tobacco Produc Tobacco Prod(A)( Tobacco Prod dv ctfs C. Transamerica Cp . Iransue & Willlams (1). Tri-Continentl Corp. Tri-Con Corp pf (6). Trico Products (215) Truax Traer Coal Co. Truscon Steel (60c).... Twin City Rapid Trans. Clen & Co (1.60)....... Underwood-Eil-Fish (5) Union Bag & Paper. .. Union Carb & C (2.60). Un Oil of Cal (2). Unlon Pacific (10). Union Pactfic pf (4) . ... Union Tank Car (1.60). United Afreraft. ... Unit Alrcraft pf (3). Utd Am Bosch. . UnitedBiscuit (2) ¢ United Biscuit pf Unit Carbon. ... United Clgar Stor Utd Cigar Stores pf(6). Unit Corporation (Tsc).. United Corp pf (3)... United Dyewood pf (7).. United Elee Coal. United Frutt (4)... U:d Gas & improv (1.30) United Gas Imp of 5).. Utd Plece Dye Wks (2), Utd Plece Dywks pf 6% . U S Distributing. . U S Express. ca Leather pr pf (1) Pipe & Pdy (). Pipe&Fy 13t pf 1.30 Realty & Imp(2) Ruhber. ... Rubber 1st of . Smelting & Ref (1). Smelt & Ref pf(3%) Steel (7). Steel Corp pf (1) Tobaceo (4.40). RRBNRB R UL R B Rmw® Hisn. T I R R Divide: | eash payment rations. 104% o 140% 140% 68 6 + 2 +11% no reg - 1 4% in stock. . Stock and dividend. Unit Stor: unt Univ Leaf Tob pt (8). Univ Plotures 15t pt ( iIniv Pipe & Rad . . High. Low. Close. 43 35 43 6% (fli 36% « 103 024 102 8). 854 29% 33 2 1% 1% Univ Pipe & Rad pf. 30 29 29 Utah Gopper (8).. . 100 100 100 Util Pwr&Lt A (et2.15). 25 23% 25 Vadasco Sales 1 1 38% 384 virgin Va-Caro Ctiem 6% pf... Va Elec & Pwr pf(6). Va Iron Coul & Coke. ... Va Iron Coal&C pt (5).. Vulean Detinning (4). . Vulean Detinning pf (7) Wabash RR. Waldorf System reen pf Walworth Co Warner Bros Pict Warner Bros pf (3 Warner Quinlan Warren Bros (2). W’'ren Bros ev pf (3). Warren Fdy & Pipe (2). pod rn Dairy (A). rn Dairy B rn Maryland. Western Md 24 pf. Western Pacifio. Weste: W Worthington Pump. .... Worthngton Pump A (7) Worthngton Pumn B(6) Wright Aeronautical. Wrikley Wm (4). Yale & Towne (2). Yellow Truck & Coach.. Yellow Tr & Coach pf. Young Spring (3), Youngstown Sh&T : Ygstwn Sh&Tu cfs Blue. Zenith Radio 2 Zonite Prod Corp (1). rates nd 83 Siren, in_ the 9 55 3 55 table are Partly extr: of trading I {Pavnibie th Yol 1%, n stocf. T R 1 us 9% stock. 'd 12% + ve on "the Iatest Quarterly ‘or half-yearly Gusin 4t d bt bi b+ 3 R 1% 1Plus 1034 91 93% 1Tel & Cab 5833 Queensland 6847 Queensland 7s "41 Reading 434897, Reming-Rand 6 %8s "47. Rhineibe 7 Rhine Westphal Rio de Janeiro 8x"46. ... Rio Grande Do Sul 6= "68. Rlo Grand West col 4 RIATk & L 41%48°34. Reme 6% s '52 SLIM&SR&G4s'33 St L& S F prin 4s A 50 StL&SF4%s" St L & San Fr b8 . St Louis 8 W con 2... StPKCS Linedl%s 41.. Sao Paulo State of §s '3, Seaboard A L ref 4s 59 Seine Dept of s. . Serbs.CroatséSia Serbs Croats Slov Sinclair Ol 78 °37. Sinclair Crude O1l 5% Sinclair Pipe Line 6842, . Southwes Rell Tel 5s'64. . South Pacific col 4549 South Pacific ref 48 5 South Pacific 4%8 '68. Southern Pac 4%5 69 w: Southn Pac Ore 4%s '17. Southern Ry gen 4s 56 [ South Rv dev 6148 '56 Stand O11 N J 6s. Stand Ol N Y 4%s 51 gcgagaccacaaacea 8 Tobacco pf (7 United Stores A year ilar rate 136 136 — 1y | 8 Pavable in e % 5% o+ 1M stock. ” h Plus 2% 1 3% in stock n Plus 8% in st . d 'aysble when b Payable stock ¢ % 5 1 in preferred stock. k Plus us stocfl J pius $ ock. 'GRAIN PRICES GAIN | ON ACTIVE BUYING '£Confinned Hot and Dry Weather Results in Good Demand for Cereals. ——— N BY JOHN P. BOUGHAN. Associated Press Market Editor. CHICAGO, June 27.—Active general feed grains resulted from continued hot, dry weather and fears of crop damage. Strength in the stock market was also a siimulus and helped to rally wheat with the Federal Farm Board's continu. ance of its sales policy as to old crop surplus wheat. Corn closed firm, %a1% cents higher; wheat 3 off to !4 up; oats, %al cent advanced, and provisions unchanged to a rise of 12 cents. = 2xFessies buying of corn and oats hoisted nrlcu‘ | for those cereals today. The buying of | 3 from price declines that were associated | Frenen 7s '49 French T%s '41. Gelsenkirchen Min 6s '3. General Cable o8 1947, . en Motors 6s ‘37 er Gov 5%3 ‘65 wi man Bank 6s 1938 German 7s "4y . vordrich (B F) 6% Goodyear Rub 5s 1957 Grand Trunk s f deb 6 Grand Trunk 7s '40 Great North 414 Greut Nor gen 5% Great North gen 7s Greek 63 1968 Havana Elec Ry 5%8. Hudson & Man adj 65'87.. Hud & Man ref 58 '67. 9% 1024 (1linots Cent ref 4 Titnois Cent Inland Steel 4 Inter Rapid Tran bs ‘66 (nter Rap Tt 5= sta "66 Inter Rap'd Tran 2 Inter Rapid Tranev 7s... Inter Cement b8 '4: 5 Inter Gt Nor adj "65..... Inter Match bs ‘47 I[ntar Mer Marine 6s ‘41 Inter Paper 53 A 47 Inter Ry Cent Am 6 Sugar Eat Orfente bs '42. Swiss 614n 46 . 4 Texas Pac'fic 55 C '79 Thiro Ave ist ref 4s Third Ave adi 65 60 Toro lec Pwr 18 '85. .. Unfon Pactfic 18t 45 47 Unfon Pacific 45 '68 Un Pacific ref 4s 2008. . United Drug s ‘53 Utd Kingdom 538 '37.... U S Rubber 18t & ref Uruguay 65 1960 Utan Powe Utilities P & L 5%s Vienn: bash 96% | o7 +2%8 | 110% ~ %/ 101 +1 | 100% +3 | 108% VIRGINIAN RAILWAY EARNINGS COMPARED The Virginian Railway Co. reports for five months ended May 31, 1931, net income of $1,073,868, after taxes and charges, equivalent after dividend requirements on 6 per cent preferred stock to $1.20 a share on 312,715 shares of cf stock. This com- pares with §! or $3.52 a com- mon share in first five months of pre-‘ r. i May net income was $231,592, after taxes and charges, against $267,893 in | May. 1930. Statement for May and five months compares as follows: 1931 1931 .. $1.262,587 $1,351,149 | 494,515 460,748 il g May gross Net operating income pepin,sfar shazee et _operating Va Rv & Power 58 Virginia Ry 1st bs Wabash 418 1978 3 West Shore st 45 2361 .. West Maryland 4s ‘52 West Maryland 6 Western Pacific w Wilson & Colst Yokohama Youngstow: FULL+40+ £ 1444141 Fae F 100% 100 93% 96'% 101% 108 69 73 ceses - % — % 4 5% +6 103 — % 4 +2% 88% + % 108% 103% - % 66'% +5% & Lig 18t 5 109% 94% 100%: 98% 109% + % 93 100% + % 98% + % 61 Chevrolet “Sales Gain. NEW YORK, June 27 (®—H. J. Klinger, vice president and general sales manager of Chevrolet Motor Co., said the final tabulation of June sales figures would show the current month ahead of June last year and that he expected every remaining month this year to show a in_over the corre- sponding month of 1930. aropping. "™ G R rents in Australis are L Notwithstanding that an authoritative comprehensive summary of conditicns in Canada showed the wheat crop situ- ation to be worse even than most traders had expected, the market effect was al- most completely nullified by Washing- ton advices that 200,000,000 bushels of | ' Government financed old-crop wheab | holdings were to remain without an definite pledge as to the time or price at which sales would be made. Many traders took the position- that such an enormous stock of old wheat in this position constituted a market menace, and that free play of price-making fac- tors in connection with the new 1931 crop was prevented. It was further as- serted that wheat consumers, both for- B Loans will be made ~ 1321 Connecticut Ave. IR ||mfllmlllllllllImllmfll"lflmllmll“"llmmflmflmllmm"g Money Available for Mortgage Loans OU can be sure of two things when you apply to us for a First Trust on apartment house, business, residence or office building properties in Washington or nearby Maryland or Virginia— rompt and fair consideration—and if the application is approved—that the money, no matter how large the amount, is immediately available. 10 year periods—and at............ RANDALL H. HAGNER & 'GOMPANY MORTGAGE LOAN CORRESPONDENT eign and domestic. were left with but little incentive to stock up. and instead | with added motive for only hand-to- mouth buying. |, Downturns of wheat prices led at | times to setbacgs in corn. but the latter grain showed prompt rallving power, and, in turn, exercised a steadying in- |fluence on wheat. Fuller detsils of Canadian crop losses were also given careful attention, especially statements that wheat in two-thirds of .Saskatche- wan was 30 to 90 per cent gone, and that the crop outlook in all the Cana- dian wheat provinces was the worst known in 44 yvears. Corn reached the highest price today since April 25, and oats also showed firmness. P Dece CORN-— ‘éuh; e | September | December | oaTs— July EARNINGS REPORTED. | NEW YORK, June 27 (#).—Per share earnings of corporations reporting this | week, with comparison with last year, included: Five months, May 31— Arundel Cor, 22 5833 gits ae LEanf months. Three Grocery Store Products. for 3, 5 or 5% Decatur 3600 | New NEW YORK BANK STOCKS | | NEW YORK, June 27 (#).—Over-the- counter market: America Chase . Ghat Phenix ommereial Nati'. First Natl N Y. Empire .. uaran Gving o Manufactur York Two tunnels, one for vehicular traffic | and the other for pedestrians, are to be constructed under the Scheldt at Ant- | gium, at a cost of $7,800,000. B RS U. 5. TRADE BOUND BACK TO NORMAL Weekly Review Sees Great Change in Sentiment in Past Few Days. Special Dispatch to The Star. NEW YORK, June 27.—The wide- ing of opinfon in support o ts and railroad rate relie up with the deflation detour and i bound back to the high road, says the Business Week in its report covering the week ending June 27. All that is needed { now is & little finanical free-wheeling. | The swift, swe-ping reversal of psy- | chology in world security and commod- | ity markets chould be a sufficient word to the wise. It has suddenly exposed the paralyzing doubt and deflation dogma that have dominated and unduly | prolonged this depression; gives = | glimpse of the vast forces of potential financial power, deferred demand and postponed ent-rprise that can catapult business into unparalleled expansion again, once they are released by intelli- ent leadership and recup-rating eon- dence. This surge of speculative sentiment | in the past week swamps the slow, stag- | nant statistics of business activity which, in our index up to June 20, shows |a sharp drop to 75.8 per cent, a new | low level, with steel ,carloadings and even | check transactions sagging under ortho- dox Summer slackness. On the pre- ceding week the index stood at 776, while in the corresponding week last | year it settled at 94.7 per cent. But prices have become the key to recovery, and the scramble of empty in- ventories and idle investment funds to get on the bus before it starts back to normal value levels is likely to leave business indicators behind for a whi, unless the overloaded vehicles tries to take the steep hill on high and stals or strips its gears. | M;n;y t;; Loan Seeured by first deed of try Prevalling interest an | Joseph I. Weller i We Recommend—as an Ou Purciare- | 1 Irving Trust Co. o This great bank hiozp o dividends without inte/des %ms2Ha for 80 years and is cu % \ quoted “at the extremi level of 34-36 per share. Special analysis fur- nished on request. Robert C. Jones & Cc; ““Specialists in Bonds and Bank Stocks” Shoreham Bidg. Very Satisfying Investment North American Trust Shares, the leading fixed trust, offer Regularity of Income, Marketability . . . and satisfactory probabilitiesof Growth in Value KNAPP & Co., INC. 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