Evening Star Newspaper, June 29, 1931, Page 14

FINANCIAL. POLICY ON WHEAT SALES IS AWAITED \Grain Trade Watches for Result of President Hoo- ver’s Suggestion. FINANCIAL. THE EVENING STAR, WASHINGTON, D. C, MONDAY, JUNE 29, 1931. NEW YORK STOCK EXCHANGE ||BONDS IRREGULAR | Corzov vorx BONDSroc sxcumnce] Received by Private Wire Direct to The Star Office. Received by Private Wire Direct 8o The Star Office List4%s32-47. 18 10313 108 10 105 10 L4th4%s33-38 167 10424 104 22 104 24 88 101 17 101 65102 28 102 28 102 28 16 10228 10227 102 27 11 102 30 102 28 102 30 l Sales. High Low. Cluse IntMCobsrct’4l. 39 96k 9 | Int Maich b8 47... 14 90% 90 int Pap6s A41.... 27 z a8 Int Pap 65 '65. 9 It T&T 4%s'62.. 20 Kot 12t T&T cv 4%s 39 18 3% o3 Mt T&T6s'55.... 18 56 Italy 78 '51. % 997 ltaly Pub Sv 7852, 3" 93 93 2106 7106 7106 7 |japanese 5y 9 % 9% Tapanese 6% ‘G4 . . Sales. High Low. Close. ADItIBIP&PE8'63. G 57 56 56 |Jukosl Bank 7s57. Ab&StE%s'43.... 4 99% 99% 99% | Kan CFLS&M 4336 Allegheny 58 ‘44. 6% 76 | Kan City Sou 3s '50 Aliis-Chalm 68°37.. 2 101 101 Kan City Sou 68 50 Am Ag Ch 7%s8'41. 102% 274 102% | Kan City Ter 4s 60 KanG & E 4%n '80. Kend 514848 ww. . ~Prev. 1£31— Stock and Sales— Prev. Moottt 0 ol L) High, Low. ' - Dividend Rate. Add 00. High. Low. Close. Closs. Stock and Sales— * Prev. [ 101 921 Stand G& Epf (6).. 1 965% 96% 96% 96% High. ‘Low. Dividend Rate. Add 0. High. Low. Close. Close. | 109% 101% Stand G & E1 pf (7).. 1 103% 103% 103% 105 76% 81 NatSurety (2)...... 2 38% 88 38 388%| 4% 1% Stand Invest Corp 1 2% W 2% 2% N 26% 10 Neisner Brothers 2 10% 10% 10%. 10%| 61% 8114 Stand Ofl Cal (h23%) 57 39% 398 38% 39% i il i | US3%s4s... Reports From Valley Indicate! 36 6y Nevnin Copper iy 45 12w 11 11w 12| 30" 8n Stand ofl of Kenee. "2 iovs iow 1w 390 |Junior Rails Especially Af o 20% 103 Newport Co (1) 116 16 16 16 | 62% 80% Stand Ol N J (12) 41% LG o nl Improvement in Business | 2¢ NewionSteel. 11" 27 12% 11k 124 “11%| 25 13% Stand O N Y (1605, 141 187 1dw 18% 184 fected—High-Grade Group |§5i%s 44 Sags Narrowly. ~Prev. 1931~ 25 124 N Y Alrbrake (1.... 35 16 16 16 15 | 34% 164 Starrett (LS) (12%) 1 20 20 €20 1783 132% 71% N Y Central (8) 72 97 4% 94% 98% 5% 214 Sterling Sec A. . 2 314 3% 4% - Conditiens. 88 40 NYCR&SLL(6)!. 6 50 49'% 49% 50 | 21% 8§ Stewart Warner.. 126 123 13% 12% 5 N Y Investors... . 6 6% 6 614 b64' 256 Stone & Webster (3). 36 36% 87T% 94% 63 N Y N H & Hart (6), § " 6% 77 TT% 26 14% Studebaker (1.20 19 19 20 119% 104% NYNH&Hopf (1).. 1112 112 112 111 | 104% Sun OLl pf (6)... 1015 101% 101 13 5% N YOnt& Western.. 16 13% 12% 13 13 Superior O11. % % % 107% 100 N Y Steam pf (6) . 208 104% 104% 104% 104% % 3 3 3 29% 18% Noranda Mine D59 21m 204 20m 21 AT 1% 19% 19 | pEW YORK. June 20. ugh bond ; 4% North Am Aviation.. 150 91 8% 9% 9 e Ly - , ad a hesitant tone today, owing € m 5 P 58 203 0 0 D e rontion of the | 90% B6% Nor Am (b1n% sthk). 69 73 0% 7Ii Tus el 25 21" | Uncertainty prevailing about the Paris Am TG Chon 1001 10U | e eates Iatter part of June & year ago, accord- | 1064 102 North Am Edpf (6). 1 104% 104% 104% 104% Desas Blshurias. 37 37w asv | ReROtiations on President Hoover's debt |, ne cp 534 85t 8814 ing o 'a compilation of reports to. vari. | 00% 301 Northern Pactfic 8 14 47% 46 46% 474 e T L S i) o | holiday proposal, some DrOgress Was|'wm Metal 615 ‘34. . 5 Laclede 6%s C '53.. ous business organizations. 10% 77 ORIBIONL: cvvessior 32 11% 10m 114 Texas Pac Land Tr. . 10% aing Dol STDVaTuE pasts oF Shie Yet. iive| Am NCass3% 97 Laitaro o While there still are some without| 5% 2 Oliver Farm Equip.. 1 31 84 Thatcher Mfg (1.60) 13 12n T one thing, s number of Am S&R 1st 6547, el Voo ox ga SO0S. 3 . “ | issues were brought out and marked | an: Sug Ref 6537 LehV cv 4%3 2003 regular employment, the number of | 26 10 OllvFarm Eqprpf.. 2 16 15 Thermoid Co. .....e. e % & e jobless men was said to be much| 615 3% Omnibus Corp. .. g B UM Third Avenu . 12% 13 | up to levels corresponding to the mar-| o, T&T cv 43%8'39 Leh Val 63 2000. smaller than a year ago, and with! 75 35 Orpheum Cir pf (8).. 108 49% 49% Third Nat Inv(mbbe) 22 21 | Ket's recent advance and there Were|am T&T bs'65..... Loew's 63 ex.war. . generous rainfall during the Spring and | 58% 31% Otis Elevator (23%). 5 41% 89% Thompson Prod 1.20 1% Yoy | Substantial gains scored by selected | Am T&T c tr bs '46. Ecng Inlrcids 8c early Summer seasons aiding growth| 16% 6% OtlsSteel....... givne Al Thompson Starrett. . 4% 4v | Broups where special reasons existed. | Am T&T 6851 '60. . Lol e sl of agricultural and orchard crops in a| 69% 30 OtisSteel prpf (7).. 20s 39% 39% Tide Water As (60c). 5 63 | But in general the trend was irregular.| Am T&T 6%s 43. Lor/lard 5%s'37.. normally fertile field for farming and| $9% 25% Owens Il Glass (2). 4 821, 81% Tide Wat As pf (6).. i 44 | European markets manifested a similar | Am W Wks 6334 Eouie & Hbeiaa. s fruit growing, industrial enterprises 4 Timken-Detroit Axle Ty Ty, | tendency at their closing prices, and | AmWat Wk 6s '75.. L & N uni 4s'40 identified with products of the soil| b4’ 38 Pacinc & El2). 10 47 Timken Roller (3 381 391 | & Teaction in cotton today had a de-|Am Wr Pap 6s'47. L&N 41%s2003.. have taken on new life. 691 484 Pacific Lighting (3). 2 56 Tobacco Products. .. w2 21, | Pressing eflect. Argentine bl5s La & Ark 53°69. NFhe two national and five state banks | 131% 116 Pacific Tel & Tel (7) 30s 124% 124% nsamerica (40c) . P 2v| Trading started slowly and at lower | Argentine May '61. Lyons 6s°34.. of Winehester and. Frederick County| 11% 5% Packard Motor (40c) 111 8 " o8 ORUCORD. o o 9% |levels along with the stock market. | Arsentine 6 Ju ‘b3, McKes & R 638’50 Pad on_ deposit today over $7,000000,| 4% 1% Panhandle P&R.... 17 1% 1% Tri-Cont Corp of (6) i o4 | Some of the domestic issues, notably | Argentine 6s Oc ‘59 Manh Ry 1st 48°30 of which about $6,000,000 were in the | B0% 19%gParamount-Pub23. 152 27 27% Trico Products(23). 361 the junior rails, quickly reflected the | Argentine 6s A 57. Market St 7s 40... Tnational institutions, and the resources | 4% 2% Parmelee Transport. 1 6 3% . 3% Truax Traer Coal Co| 4 profit” taking in equities. Small de- | Argentine 6s B '58. Marsellle 65 34. of these seven banks were around the 2% 1 Pathe Excharge e 1% 1% Twin City Rap Tran 8% % clines occurred in Frisco 41:s, Erie 5s, | Arm & Co 4%s "3y, Midvale Stl 68 $12,000,000 mark. Bankers said theis| 6% 3 PatheExchangeA... 14 5% 4% 5% T . 2 St. Paul 55, St. Paul adjustments, Al-|Arm Del5lys 43... Milan 6%s ‘62..... nd-EILFisher (5). 59% Mil E Ry & L 55 61 M StP&SSM 6%s. . He - 15% 6 Patino Mines. 15 13 1% 12 6% 40 U leghany 5s and Denver & Rio Grande | Atchis 4s1305-5b. . ffi;’f,“fi; :rtr ?S,‘ft T ';2';,";‘;‘: 4% 2% Peerless MotorCar.. 1 3% 3% 3% 4| 13% 8% Union Bag & Paper.. 114 MK & T 1st 4s°90. . MK&Tal6s'67.. 39 2814 P (3 C) 12 3. 72 43% Union Carb& C 2. 53 ‘Western 5s. Convertible railr:‘ad 1;:1.125 ::::h(fl;l:e;: h!‘l!b v ; ¢ | 39% 2814 Penney (JC) (2.40). 5 24% 34 34 L C were also lower, the most active being sCy4s 4l o oucht| B% 90° Rannay/ () orAl() 3 9 96 26% 14 Unoil of Cal (2) 18% Atchison 4%, New Haven 65, Southern | AUC L 15t 45 52. damage here and nearby in 1930, whica | .64 42% Penn Railroad (3)... 105 49% 49% ey 1694 Pacific 4%s of 1969, Chicago & North- [ At Gulf bs ‘5! MK&TprinbsA. affected all lines of business. 103 96!y Peoples DS pf (6%). 10s 102 102 102 s Un Pacific pf (4) 85l western 4%s and Baltimore & Ohio |At Refden5s 37.., Mo Pac gen 48 '75. . They added that, in spite of ®the | 260 183 Peop GasCh (8). 5 209 206 f‘}i Un TankCar (1.60).. 21 21% 4145 of 1960. Some of the losses were | Australia 443 G6. . Mo Pac 6s A '65. . drought’s efects, very few Frederick | 9% 4 FPeoria& kastern.... 1 7 o D (iRtrongst. . 321 30% recovered in later trading. Australia bs §5....1 Mo ~ac b8 F 17 County farmers availed themselves of [ 85 =~ 28 DereMarquette Ry.. 12 47 ) D S oE D). 59 The high-grade domestic group con- | Austraiia és & Mo Pac ref the opportunity of borrowing funds| 92% 50 Pere Marqpr pf (5). 60s 58 By [ 27 Urailm Hoscnt 15 tinued to sag narrowly. Atchison Gen- | AUSUIia is 43, Mo Pac 53%s cv '49. from the. Federal Government. Also,| 10% 6 ILetrolmCpofamdl) 4 ™ T o sl : 894 eral 4s dropped below 99 again. Ameri- | Austria 7s ‘67 ctfs. Mont Pow 58 43... they said bank deposits were now in- | 25% 11 Phelps Dodse (1).... 5 5 Sl Unhiateasi : 0% can Telephone 5s were off fractionally | is & 0 4s ‘48, . Mont P dh 5s A ‘62 creasing, and that more money was in| 12 4 thil ReadC&l. ... 11 : 31ve RSy D and the 5'is lost an opening advance. | B & O 43%s '3 Mont Tr 1st 5341 circulation for the purchase of com- | 52 48% Phillips-Jones pf (7) 10a 49 520 kb S L United States Government bonds Were (i & U conv 4548 ‘60 Montevideo 7s ‘5 modities at lower prices than prevailed | 15% 48 Phillips Petroleum.. 46 OO e L 1-32 to 4-32 lower, but not very aetive. | is & O 1st o4 Mor & Co 1st 4% last Summer. 5% Pierce-Arrow pf (6). 1 2 i A e 2% Municials were marked down a shade. | 15 & O ret b "v5. Nat Dairy 5%s ‘48, ISR O ) DTS . D ealrle© 6 In the foreign department the out- |t & O 5s b 2000 Nat Rad 6%s 47 Contracts Awarded. 1" Plerce Petroleum. Unit Fruit (4)...... 58% standing movement was in Brasilian|k &0 6a v, Necrane e During the past few days contracts 4 Pitts United Corp. Unit @& Im (120).. 304 issues, which all gained 1 to 3 points. | b & O Sw dy om ‘50, New S Walex have been awarded for new building 6 Poor&Co (B)... un tG & Im pf (5).. An improvement in milreis exchange | i & O Toledo 4 S projects, which gives employment to 10 Porto Ric- Am To(2). iU nce W S0, and in coffee prices and reports of a| ik of Chiie b4 N Y Cgn3%s'97 large numbers of local people. Herman 4 18 Postal Tel&Cable pf. e renewal of business activity in Brazil N Y Gttt H. Hable started construction of a 614 Prairie Oil & Gas.... U S Gypsum (1.60).. DR Bl o b ol desinsad o thie Bonids: R coouamias. $100,000 theater, saying only home labor 14% Prairie Pipe L (3)... L i .. The Sao Paulo 7 per cent coffee loan um 64 49, N Y Cent db ¢s 34 would be employed. 28 Pressed Steel Car.... ldaust:A 30 touched & new high on the current|ielgium 18 55 N Y Cent 43,5 2013, The fubber division of the Victor | 26 Pressed St Cpf (7).. ™7 movement, well above 80. Australian | Belgium 7 NY Cen rf 4%82013 Products Co., Chicago and Winchester, | 66 Proct & Gamb (2.40) 11 issues also moved higher, with a sim- | beli Lel L'a bs i3 4% NYC re im 68 2013, began work on another large brick, 1% Prod & Refiners. .... 264 flar improvement in London. B Ind Loan Co 65’46 N Y Cent b 68 '35. y in Southern concrete and steel building to house of- 72 PubSvNJ (340). 181 Japanese issues were firm, still mir- | Beriin Cy £l 68 '55. NY C& St L 4337, 9 9 and Ita fices and additional manufacturing 102% 95 ~PubSv N Jpf (5). 18% 1 roring the success of the Formosan loan | Berlin Cykil 6551 NY C&StL 4%8 8. & @ ger Cre equipment. They make various kinds 109% Pub Sv NJ pf (6). NYC&SUL %8 A 7 ot NYC&StL6s'32. N Y Edison 58 B "44 Bpecial Dispatch to The Star. ‘WINCHESTER, Va., June 29.—Busi- ness conditions generally in the Shen- andoah Valley show considerable im- BY F. H. RICHARDSON. Special Dispatch to The Star. Am Beet Sug 6s'35. 3 31 31 NEW YORK, June 29.—Though bonds | ;7008 Pelas 777 5 g9 99 BY FRANK I WELLER, Associated Press Farm Editor Wheat markets may be in a state of nervous uncertainty until the Farm Board announces defisitely its sales i policy for stabilization of wheat in ac- cordance with President Hoover's sug- gestion A pledge to hold the supplies off domestic markets for a year, many traders feel, would in fis Immediae ef- fect far overshadow the prospects of an improved European economic situation Some grain men have insisted a year's promise would add 10 cents to Wheat values, and would furnish a sub- stantial basis for entering the long sid- Futures rallied last week on reports Farm Board announcement was immi- nent. ‘It now promises a statement b | July 1. Cash Prices Off. | Cash wheat prices dropped sharpl | last week to a new crop basis, but o firmer tone developed in the future markets as a result of the continued unfavorable outlook for Spring wheat in North America and prospects of some betterment in Europe’s affairs. Traders worked more toward the bu ing side, and rallies after recessions were sharper. But at the same time new wheat movement resulted in more | hedging sales. With bullish news at hand or in the making traders say that lowest price have been secn for the present. The condition of Spring wheat in ;| American Norihwest remained about \gnrhanged last week. There were some cattered light rains, but serious drought ! conditions prevail in Western North Dakota and Eastern Montana. Cana- dian conditions continue critical. Pros- pects improved in Alberta during the week, but the crop suffered further d terioration askatchewan and Man: toba, the Agriculture Department herc reportzd. . European crops were reported to be developing rapidly under generally fa- ons Harvestiry am i A - e peoeBoed et dncenant @ [ 3 3 o o Slwa S Leather A...... SPipe & F (2).... » SP&F 1st (1.20). . S Realty & Imp(2) S Rubber s s e S PO T 16 last week. Argentine 6s recovered A |ieln Sice: i osd of rubber goods, including shoe soles 128% Pub Sv N J pf (1) s=tllly s b it and heels and solid tires for toys. 103% Pub Sve G&E pf(5).. The H. J. Heinz Co., which opened 28 Pullman Corp (4). its first two local plant units a year 1 Punta Alegre Sugar. ago, is erecting a large vinegar generat- b IELYS O . ing plant and 30 additional vinegar 24% Purity Bakeries (3). storage tanks, each with a capacity of 12 20,000 gallons. When the National Pruit Products Co., with general offices in Washington, enlarged its great Winchest-r plant ! several years ago, it was thought suf- | ficient fo care for business for many | years to come. However, it has become | necessary to ask for plans for still | further enlargement for the “White House” brand products. The local plant, one of half a dozen in various States, has storage capacity for 3,500,- 000 gallons of vinegar. The Continental Oil Co. is erecting one of the largest oil and gasoline dis- tributing stations of its system in the | southern suburbs of ths city, and in- | tends to make this a divisional head- | quarters. | The M. J. Grove Lime Co. reported | operating on full time. Not only has there been an increased demand for lim> for building purposes, but great quantities of crushed stone are being | supplied for Shenandoah Valley Pike improvements. i The Winchester Woolen Co., Inc., which recently acquired the plant and cquipment of the defunct Arthur G.| Jones Woolen Mills Corporation, has | revived that has expert machnists readjusting the machinery and aiready is getting out samples for the Spring of 1932. Full-time opera- tion is to be begun in a short time. The plant of the Virginia Woolen Co., one of the largest mills of the kind in the South, is employing day and night shifts, and the Brucetown Woolen Mills, inc., continues busy manufacturing penal institutional cloth. | Other Activities. i Numbers of barrel and basket plants, factories manufacturing orchard spray- ing material and others related to the apple industry are tdRlng on’ additiorial employes in anticipation of a commer- cial dbple crop of more than 600,000 barrels this scason in the "Winchester district. | Brick manufacturing plants and lum- ber factories report good busiess.| ;7. Rulder 1st p: 5 28% 2815 s ¢ | Bolivia 7s "o R point or more of the loss caused by |tolivia is'o8. 18 18h 1 profit taking on Saturday. Chilean | bolivia 75 ‘63. TS Steel (1)....... 1014 104% | jssues were off fractionally. Colombian | Luiivia 83 4o, U S Steel pt (7). 1408 140% | 65 dropped 2 points. Mortgage bank | buiceuux 63 Uity Aot 4 5 5% | bonds of both Chile and Colombia were | bus & Me us b5, Univ Lea Tob ). 1 36 36% | strong, however, with announcements| isos & Me o 67, i 9 =Sl A0 UHI B&L A (812.15). 48 2 24% 25 | of the receipt of July 1 and August 1|Bruziltigs 26 2 P Vadasco Sales Corp. 1 1 13 | debt service. Grazil 6bes 27.. RadioCorp B 3).... 6 &4 23% Vanaditim Corp'n... 344 36 36% 38 | German dollar bonds were slightly| Grazil e mn A aeD 1 i 2 21 Van Raalte 1st pf... 30s £0 58 | lower because of the French attitude!| uiazil¥s «i ERea ML Ve 2 : 1% 59% ar Chetn pf (1), 64 64 611 | toward interest payments on the com- | iiiemen 1s il | 109 " 98k 105% 105% 1054 | Mercialized portion of the Young plan| bikiyn klev 6ls ST 1 1% 385 o 51 54 | annuities. But it s not considered | ukiyn Man 65 b3, e em-Rand 1st pf (7) 11 w2 385 VulcanDetie). ... 1 likely that America and England would | Gkiya Un o 4 Ny e Reo Motor Car (40¢). 3 6 ; 26 8 \Wabash RR. 17 | agree to a suspension of interest pay-| ukiy Ievonsv; 1 AY Wen s Republic Steel. 56 ; 51 19 Wabash RR ( 2 29% | ments on this loan. Mgl o o | Nia Sh Ma 534850 Republic Steel 5., 6 Waldort Sys (1%} it e SN I Secommists ity , * | Norf South 68 41.. Ssinoile ;1;;’."1: i W ErS‘}IIL‘,fiE'a Washington Stock Exch i e - 81| NI E mBCveRine i ard B : ; Co 53°61... . 53 : : SALES Nor Am Ed 5%s '63 Richfleld O1l. 11 Warner Eros pf 3.85. : g ) s s s DO, e Al T e oL | Washington Gas 65 “A"—£100 at 101 YorOT&L 6e 4l RRal RBOE(S50).. & Warren Bros (2).. .. e T Consibs ALUN et CadiNatiaagaini Nor Fac 43'97..... Roy Dtch(m1.3404). 17 ::,:;:el?‘béilynl’:(v‘;.). | Potomac Electric 51, % pfd—1 at 111 unu:-\ :'aa 68, Nor Pacr{6s2047. 4 » an Nat 4945 oo Nor St Pw 58 A "1, West Pa EI pf (7)... L e an Nat bs Juiy 69 > P West Pa Pow pf (6). 100n Washington Gas Light—5 at 115%. | Zan Nat 55 Uct ‘65. N Western Dairy B. 3 Bl Washington Rwy. & Zlec. pfd.—10 at un Ner41ps 35. { Norway 5%s "6l Western'Ma, .. . : 99%, 10 at 100, 10 at 100, 5 At 99%. | (o0 Nor 61es b 4 | ¢ Western Md 2d p. Pn:gné;c Savings Bank—11 at 65, 10 . pn Norisaes 4u.. Norway 6s " Norway 6: 4o.ee Westera Unton (8 Can Pac : ekt b Schulte Retail St Westing A B (2). ... American Security & Trust Co—1 at| an pac $5es 36 Difiits Sl bagn Seaboard Afr Line. .. A Westing E1&Mfg (4) 487 6 | o 310- | an Pac 4iys 6. Ogden&L Ch 4s°48. Seab Air Line pf. ... ¥ Westing E&M pf (4). ™ Columbia Sand & Gravel pfd.—10 &t | 4n pac sectfs 44 n4s61.. Sears Roebuck (21) 5 ston El Instr (1). 90, 50 at 90, 10 at 90, 20 at 90. el Orient dev 53 ‘58, Second Nat Inv Westvaco Chlor (2) - g enclac 43 43 Orlentidoviénibs; .. Second Nat Inv pf... Wextark Radio Strs i L 7 | Cent vac os 40! Pac T&T 1st 6337 Seneca Copper. White Sewing Mach. _\Vg;g‘l’ngto?o_f_:as 6s “B"—$1,000 at 107, ! Gy Ry NJ g os 8 2 i by aaceanes o oo Kadlo Corp. N Y Tel 6541, Canada 45 '60. Canaua des s » Safeway Stores (5). 14 Safeway pf (6 708 St Joseph Lead (1).. 23 St Louis & San Fran. St L-San Fran pf (6) Savage Arms (2).... on - BN DRum BB RRIE—n 106 104% 101%, 104 107 a0 9614 101 100 947, 94 1008 100 1041, 1030 1084 1081, 10913 1093 99y 99 8813 ER1S tac G & K1 6842 Secrvel Ine.........0 Wilcox Oil & Ga CELLG el o hus 48 2 Sha D Vil A < W R hedlab ol L van-Am Pet 63 '34. arp & Dohme. Wilcox Rich A (2%) W;;{lfz;;zorz) }}l“gl,fx Blec.NAx0000" &L ir es Corpion 41, o h W by Sharp & Do pf (314). Willys-Overland. lC&Ogen 433892, . Shattuck F G (11%) Wilson & Co. . | Washington Gas 6s “A"—-$100 at 101z, | C § ¢355 15 45 2 Shell Union O Wilson & Co A Washington Gas 4125—3$10,000 at 100%z, | ")y, & Alt s5. . s ::al; Un_l(.)(l ot (5%) Wilson & Co pf. ... $14.000 at 100%: B & Quen4s 58 Shubert Theate Woolworth (2.40). . i i C Baeq Al dv 43 48 i o Simmons Co. . .. Worthington Pump Bid and Asked Prices. Chi & Kas 11l o851, & e n muer Simms Petrolaum .. Wright Aeronaut. ., BONDS. Ciil Grt West 48’69 & “ Datin5a Sinclair Consol Of1.. 63 1 Wrizley (Wm) (4). “hi B & St I 4s b B Skelly O11 = = EURIID- DI Chia M&STP 4355 B, o : 11 M&STE 415 B, Sloss Sheffleld St pf. 100s 6% Yellow Truck. s Ch M&SUE 408 ‘89 Acostin & Poi Pathe Exch 7s '37. Penna 43s D Penn gen 4348 Penna gen Penn 6148 '36. | Penn O&D 413577, Pere Mar 4148 '80., Pere M 1st 55 '56... Peru 6s'60 Peru 6s°61. Peru 7s'59..... Pmila Co 5861, ... 2 u ———— a Phila & Read 654 01 69 : Phillip Per 518 '39 ¢34 65 en.| CHICAGO DAIRY MARKET. ©ilisb F M 6543, 1047 104% | CHICAGO. June Pirelli 7s. . 1035, 103% | Receipts. 15,025 e mala-Brhan Snlier Packing. . % A2 Tallow Teatkwt Chi M SU&F 03 °T6 - 8 4 14% Youngs Sprine (3). . ey 5 39% Ynzstwn Sh&Tu(2). South Paclfie (6). ... E 2% Zenith Radio B Southern Rwy (mé). 39 msny 3 14 11 _ZoniteProd Corp (1) 3 1215 Bouthern Rwy pf (5) Sales of Stocks on New York Spalding (A G) (2).. 10:30 A.M Sparks Withing (1). . Snider Packing pf... South Port Rico Sug. Chi M & St I ad) by | Chi & NW gn 4s 87 Chré NW con 485 i v o8 SCR L& P rids e Zia | Fotomac Elec.' o ‘ HlCni KLy aies 6 S04 0 1o xchange. bar Aiex & Mt : | C&Windey4s oo e T0ke X vashington ‘Ges $7e 100 L/C& W ind 54s 6 700. : 0 S . ifl:::r&MCrZN- [loh it antatven u" the above table are the -nm:ovooo i - § e e f €s°60... i i s v 2 7 2 sed on the latest quarterly or hal-; Vas v s ‘91 Chile 6s '61. i d Building permits issued in May showed | 3] e s LD o “Unit of rading less (han 100 shares. YPasils earre e o 3 diciis . : Chile 63" 118 6 P CC&SIL 43 1005 100% 100% | specials (93 score), an increase over the same mon ;17 Splegel-May-Stern. Jo% 10% in stock. §Pasable in scrip. TPlus 9% in stock. aPaid last year— “hile 78 " Sep i PCC&StLAsB.. 2 108% s . 240 extra firsts year and, it was said, June will Show | ,qi Stand Brands (120). 65 19 181 Do regular rate. bPayable in stock. ePayable in cash or stock, | Barber & Ross. Inc. 6.5 “hile Cop db 5547 P&W V4B a9, 92 9 a firsts (83-89 a much larger increase. The permits | ggy Stand G & E (3 5 s fPlus 8% in stock. gPlus 6% in stock. h Plus 2% » " | Chevy Chase Club 5'as N 4 5] > 'V 4108 C " S R & ' (86-87 i A AandG & K (3%)... 45 69 67% i n stock. b i CC&St L 4%s E.. P& W V4lesC60. 88% nds (86-87 scor did not include many brick and frame gt Sthd G & E pf (§) 1 £9% Eo% 4 Plus B0c in specicl preferred stock. k Plus 3% in stock. m Paid | COMUmbia Cour Syt 5 Bolahdi€s 40 B3 residences being arected in mnearby .. % g this year—no regular rate. nPlus 8% in stock. DaC) Lot sw; Alel\' ;b-nujs o ,u;:xd :’7 o8 07 sz 90 .~l-;n:v. cen! o d c e = 2 1d Stol Colomb 6s Jan 61.. e 7 5% 1 3 pgs—Receip! 6 cases: Subnzasudeyslon Ot Colombia 63 61 OCt Poland 8s '50 e : St MOVE T0 pREVENT | JUNIOR BOND ADVANCE SWEEPS [, st v o P).—Butter- Port Gen El 414560 Por RTam 6s'4 3 73 i Pos Te! & C 53 '53 6 64141 extras, 18. Colon O3l 65 "38. | Colo & Sou 4325 35, ‘M'Olot\ u 413880 | Col G&io bs May Y Pressed St CC Md 1strf5s il 5 | Prussia 635 bublic Serv 45 ub Sv G 4%s'67.. j NEW YORK BANK STOCKS STOCKS. the way toward improving earnings of PUBLIC UTILITY. GLOOM FROM INVESTMEN’I’ MART | international and domestic ccrporations. | Amer. PRICE WAR STARTED ¥ Pacific Coast_;usiness Leaders Act The psychological factor of rising prices | arr. is not to be ignored, either, as a means | }, in Interest of Gasoline Industry. By the Associated Press. NEW YORK, June 29.—The strong advance in junior bonds last week swept away much of the depréssive gloom that has surrounded the investment market for months. When the week ended | with a net advance of 2 to 5 points American Republic. Obligations of the Argentine, Chile, Colombia, Brazil, Uru- guay and even those of Peru and Bo- livia—where defaults in_dollar issues | have occurred—jumped 3 to 7 points | and carried with them many other is- | sues of Central American countries and | injected a strong tone into the whole | The appreciation from of again interesting the public not only in securities, but in buying goods. In- deed, the interest of the public in toth during the week was manifested by reccrd sales—for the current move- ment—in both stocks and bonds, and in_ important increases in the package volume of sales of retail establishments. Pot. Elec. Py 5! Wash. RWy. Wash, Rwy. & Ei Capital Colhimb Comme District Fed.-Ame; Liber Lincoln (12 Denmark 65 4 Pot Elec. Power 6 s i14 5 107 96t 100t 64 S8ty 96% e 100% 1061 Pub Sv G 416870, Pure O11 514s'37... Queenland 6s 47, Queenland 7s "41. Reading 4%s B. Rem Arms 6s A '37. Rem R 5%s A '47.. Rhinelbe 75 "48. NEW YORK, June 29 (#).— Over- the-counter market Banks. along a broad front of formerly heavily | foreign list. Siie R saIEe A et liquidated securities, there was a ten- | the recent low levels of the South| In fine, there is a generally accepted | Metrovoli LOS ANGELES, June 29—With dency to place emphasis on good news | American group was about $477,000,000 | theory in Wall Street that this is the | BiE8sq %50, - slashes in the recently established price | and disregard the bad, where only ea |8t the end of the weck. This repre- | booming bond market that tradition- | Washinsion (13) : of 16 cents a gallon for gasoline already | short fortnight ago the opposite was ScNts an average improvement of 322 | ally heralds business recovery, and that TRUST COMP b:ginning to appear here, business|the case. per cent on the $1,530,453,000 of dollar | view has much evidence to back it up | amer. sec. & Tr. Co. (15).. leaders moved today to prevent the re- | In so far as domestic bonds were con- | issues standing against the credit of | it present. Continental Trust (6. opening of a price war. cerned the significant development of | the Latin Republics. (Copyright, 1831) Natl Sav. & Tr (1230 Denver Gas 53 °51.. 1044 D& R Gr gn 45 '36. D&RG W bs'S DRG & W stbs Det Ed G&R41%5'61 Det Edison rf 5s ‘43 tsche BK 63 '32, Lodse Brcl 65 '40.. Ithine West 6362 ine West 6353 Rhine West 6s 5 Rhine West 7s ‘50 Rich Ol cal €8 *44 Rlo de Jan 614862 Rio de Jan 8s '46. .. R Gr De Sul 63 '68. In full-page advertisements Victor H. S Tk T Rossetti, bank president and chairman of a special Price Stabilization Commit- te>, said 200 leading citizens had banded together to this end. Simultaneously President J. A. H. Kerr of the Chamber of Commerce an- nounced the directors had adopted a resolution addressed to principals in the oil industry of California urging that such prices be established “as will be | reasonable to the public and as will | enable all branches of the oil industry to earn a reasonable profit, so as to ! maintain pay rolls and the buying power | of many thousands of persons depend- | ing upon the stability of this impor- | tant industry.” Rossetti quoted a resolution adopted by the committee of 200 as saying the buying power of the oil industry had been cut in half in the past four months, affecting employment and all industries. The committee’ pledged themselves “and strongly urge organized bodies of citizens to join us in a movement to help maintain the necessary balance | in our industrial machinery by refus- ing to encourage. or patronize any ele- ments which seek to disturb it by a policy of price cutting or other uneco- nomic practices.” Installment Sales. the week was the steady depreciation of high-grade bonds in favor of a sharp appreciation in secondary and even third-grade cbligations. At no time in the entire history of the bear market has a recovery or rally been marked by such a widespread move- ment of funds out of low yield issues into junior securities that promised, in addition to a high yield, substantial appreciation in capital. An index of 10 high grade corporation bonds de- lined 21, points during the week, com- pared to an increase of 5 points in 10 junior rails and 4'; points in 10 industrial descriptions. It was a good indication that public confidence had reached the point where the attractive yields of junior bonds proved too great a temptation for those who three weeks ago would have noth- ing but United States Governments and municipal bonds at absurdly small yields. And incidentally both of these !groups of gilt edged investments de- | clined with the rest of the high grade list. Hoover Plan Starts Rise. Of course, President Hoover’s plan to suspend intergovernmental debt pay- ments an dwar reparations for a year started the ball rolling, but the greatest impetus given to bonds was from the widespread improvement in commodity prices and the emphasis Gain in South America The advance: in South Americans surpassed even that of the German dollar group on the proposal of a year's debt holiday. The uncertainty existing most of the week as to France's atti- tude checked the advance of German bonds, so that their improvement from |3’ recent bottom levels was only 12 per cent. This when translated into dol- lars, means an appreciation of $157,- 110,120 on the $1,309,251,000 of German dollar bonds outstanding. The British government’s suspension of debt payments from its Dominions, together with the improvement in the wool and wheat markets, was reflected in a general improvement in Australian dollar issues. This amounted to about 10 points on the average and repre- sented an appreciation of about $30,- 000,000 to American investors. 1t was no wonder that activity picked up in the new capital market. In the week $187,759,000 of new bonds were cffered, against $87,265,000 last week and $90,461,500 in the same week of 1930. The most important new issue was $22,800,000 of Taiwan Electric Power Co. 5is, priced at 931}, to yleld | 5.90 per cent. The company is located in Formosa and its bonds are guar- anteed by the Japanese government. The fact that it was the first foreign dol- TREASURY CERTIFICATES. (Repotted by J. & W. Selisman & Co.) Rate—Maturity Bid. _Offer 5 100 13-33 100 7-32 100 18-32 100 16-32 100 18- * 100 28-32 100 30-32 101 11-32 101 13-32 FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal gold Selling checks Value. . $4.8665 London, pound. 3.91%¢ Paris, franc. Brussels, belga Beriin, ma Rome, Zurich, frane...'.[] 19 Athens, drachma.... L: g Madrid, peset Vienna. schilling. Budapest. pengo . Prague. crown (not Warsaw, _zloty. Copenhagen. cr X Oslo. _crown. ! 26 .78¢ Stockholm, crown. .. 26.81c SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co) Offer Allis-Chalmers Co. 5s_1937. 1017 American Metal 5 1934. American Tel. & Tel. 5%as i9i3! Beltimore & Ohio 4%as 1933:... 1 Batayien Pet. Corp. 4%s 1942 Be. Tel. of Canada 5s 1957.... Caiifo;nia Pet. Corp. 5! Canadian Nor, Rwy. Union Trust (8s) : Wash. Loan & Tr. (14) SAVINGS BANK. Bank of Bethesda (63). 5 Com. & Savings (10) East’ Washington (12) Potomac (10..... Sec. Sav. & Com Bk Seventh _Street (12) United States (30) Wash. Mechanics (20 FIRE INSURANCE. American (12) s Corcoran (10} Firemen's (8) . National Union (i3 TITLE INSURANCE. Columbia (6h) .. 9 10 Real Estate (6h). MISCELLANEOUS, Barber & Ross. Inc.. com... | Col.” Medical Bldg. Corp. (6) Sand & Gravel pfd. (7). Dist. Naul. Sec. pfd. ( Emer. Bromo-Selz. Federal Storage p{d. (8) Fed.-Am. Co. com, (1.20¢ Fed.-Am. Co. pfd. (6} Lanston Monotype (8 Mer. Tr. & Stge. com. (10). Mer. Tr. & Stge. pfd. (1) Mergenthaler Linotype (8)'. Natl. Mtge. & Inv. pfd. (&) Peoples Drug Stores pfd. (61 Real Est. M. & G. pfd. (8) Security ' Storage (de) Ter. Ref. & Wh. Corp. (3) The_Carpel Corp. (1.50c) W. Mech. Mtge. com. (6. Wash. Med. Bldg. Coip. (7 Woodwd. & Lothrop com. (1 Woodward & Lothrop pfd. (7 *Ex_dividend. bBooks closed. i i Duguesne 434 ‘67 Dutch East 165 '47. East C Sug 7%s 37 Eirie Gen Erie cv 68 '67..00.0 Erie 58°75 Finland 5%s '68. .. Finland 6s '45 nland 63%s 56. Finiand 7s ‘60 : | Fla i Coast 55 h 78’4 ‘each GV TS | Cerseniccnen 6534 n Baking 5% s '40 Motors 6s 37.. 26 Th Eq 6340, German 5%5 65 German BK 65 '38. . Ger Cen BK 6560 J Ger Cen Bk 6560 O Ge:man Bank 7s ‘50 Goodrich cv 63 '45. Good 15t 6% °47. . Goody'r Rub 58 '57. GrandTr sf db 65’36 Grand Trunk 7s '40 Grt Nor 4%s°'76 D. Grt Nor 4148 '77 E. Grt Nor gn 6% Grt Nor gen 78 '36. . Greek 6 °63 Hait1 63 '52. . Rio Gr W 1st 4539, RIAr&L 4%s 34, Rome 6%3°52. Roy D 4545 w' StL&SFin4sA.. StL&SF 44878 StLS Wcv 4’32 StLS W 53°'62..... San A & A P 4s’43.. Sao Pau 78 "40 ret Sao Paulo 88 °50. ... Saxon Pu W 6345’61 Saxon T8 '45....... Seab A L rf 45'49 Seab A L 4s st '50.. | Seab A L cv 6345 Sea All Fla 63 A '35 Seine 7s '42. | Serbs-Cr-S1 78 '62 Shell Un O1l 63 47, Shell Un O11 55'49. Shinyetsu 6%s '52. Sinclair Oll 6%8'38 Sine O Tscv A'3l.. Sine Cr O 5%3 ‘38 Sine P L 58’43, . Skelly Oil 6%s'39. Soissons 68 *36..... Sou Bel T&T 6s '41. SW Bell T 65 A *54. Sou Pac ref 48 ‘65 Sou | Sou P 4%s 5 So Pacific 4%8 81 St L&SF prin6s B. 3 s Toho El! Pow 6332 100 100 100 Toho El Pow 78 65. 100% 1003 1008 Tokio 55 '5 2 83n 83n Tokio 6Y%s “eee Tokio EI Lt 65’ 63.. Un Pac 1st 4547 5 1000, Un Pac 4s 68, . 9215 935 Un Pac rf 43 2003.. 961y Un Pac 4135 67 o 102 Unit Drug cv 5 3 101 Utd King 638 37.. - 10814 U S Rub 1st 53 '47. 5 4 8 681 Unit SS Cop 6s '37. 2 100 Un St1 W 648 A "47 644 3 681y Ud StI W 614sA 51 t Utd St W 635 C'51 Uruguay 6s 60 . Uruguay 6s 64 Uruszuay 8s'46. ... Utah P & L 55 °44. . Uttl Pow b8 59 ww. 65% Util Pow 6% "47.. 74 Vanadium Stl 5s 41 841 83% Vienna 68 5% .. E ¥81 Va Ry Ist58'62.... 3 104% Wabash 4%5°78. .. 66 Wabash 1st 63 '39. 101 Wabash 2d 6s 39. 98 Wabash 58 B '76. .. g STy Warn Br Pic 6339, 3 424 Warsaw 7858 59% Warner Sug 7s "41 % 105% Wst Sh 1st 4s 2361. 90% West El dcb 58 '44 106 West Md 4s 2. .. T West Md 5% 89 West Pac 68 ‘46 Thl4 West Un Tel 68 '51. 2 101 West Union bs 101% West Un T 6%8°36. & 109 WEO5%s'37 ww. 2% 102% Wil&Colst6s'4l 6 9315 Wil-Ov 1st 6%s°'33. 98 Win R A T%s"41 55 Wis Cen gn 4s 3| %514 Yokohama 6s '61 100% ¥rstn SP&T . 6 98% 98% ¥ng StI&T 58 B '70. 98k 9% lar loan in a long time was itself signifi- < : NEW YORK, June 29 ().—The vol- | placed on a few bullish earnings re- e sigt Chi. Nozthwestern K. R. [ s So Pay ume of installment sales this vear has | POFts issued in the week. The reten- | C3A% but when the bends went to over | Chicasg Rock fsland 451634 Eini L Seheni been only slighly lower than 1930, while | tion of regular dividend rates by sev- |8 Point premium the first day they | BUiCer % Rio Grande 4’25 1936 ) e R AFLroatr.. Fiaris reports from leading finance companies | eral important corporations was not| Were offered, syndicates negotiating | Gen. Mot Acccp. Corp. 8s 1937 1033 FRVNI -t oo oy P indicate that the percentage of de- | overlooked. Railroad issues had the | Other issues took heart, An issue of | General Petroleum Corp: 55 1040 A Hum O&R 6145 63. 102 srOIN Jinquencies and - repossessions in the | benefit of a booming market for rail- | $85,000,000 of Commcnwealth Edison | General Public Service s zs 103 SLAIN OVER WATER Lo 025 | SUOIL N J 634 early part of the current vear actually jroad stocks, following a Washington fist mortgage 4 per cents, priced at|Grand runk of Canads 6 ungary - drot N declined as ‘compared with the, corre- | report that the Interstate Commerce | 94%, to yield over 4.25 per cent. was | Gl o N 1031 21 | Man Dies After Alleged Attack by |1l BT 1st pf 6!5\4- 106 | eden 6%s 56 sponding period last year, a review is- | Commission would give immediate con- | 8lso offered, and while repcrted quick- | internat. Mateh.Corp. 55 i947.. 893, 90 111 Cent ref 4s '55.. 2 82 |gitss 5%s 46 sued by the New York Stock Exchange | sideration to the appeal for a 15 per | ly oversubscribed, the bonds were to be |Marland Oil $s 1932 Neighbor. 1nfCent 4% s 2 821 2 £irm of Dominick & Dominick says. cent freight rate increase. Bonds of | had at a small discount. This did not | National Dairy Prod. s¥es 15 II CCSIL&N 6 A . 87% | Tenn Cop 65 *41 [ — companies having foreign connections | reflect t‘m tl:m merit of the bonds, but Ponl.fld ;G,"";E' !x‘u'cl, g; 1oy laolss. Idaho, June 29 (#).—A quar- {:;i:g g:l‘ ::/-‘; Q';: g::& }:;fl; ::‘s :’ :-‘ :-a‘:” 2 & advanced sharply because of the im-| was a further indication of the trend |Republic Iron eel 53 A rel over water rights last night sent to 4 4 4% e Biggest Wrist Watch Shown. | Bosen oS, T P tope. away from high-grade, low-yield secur- | Sinclair Crude oll Co Sias 1938 i jail & 70-year-old Boise Valley farmer, | Int Rap Tr 55 °66 2 72 |Tex& Ark%a's0. The world's largest wrist-watch has| By far the most spectacular move- | ities. Standard Oil N. Jersey 5s 1946 charged with murder of his neighbor.. .|1nt Rap Tr sta "66. 72 Tex Corp u‘ :2006 Just been completed at Chaux-de- | ment of the weck, however, was the . Standard Oil N. York 1'11 ;gg; ROy M. Treat, 51, dled in a hospital | Int Rap Tr 6s ‘xz fiflh Tex & P 1st A hatel Switserland, 1 dd t of the South American Should Stimulate Trade. St. L. IMS. Ry R. E. 45 here t-day, three days after he was hit | [nt Rap Tr 7s°32 925 | Tex & Pac 65 B277 Fonds, near Neuchatel, Switzerland. It | sudden spurt of e Union Eiec. Lt. & Power 5s 1938 i s i s mapesa is 120 times larger than the regulation | group of dollar bonds on President Constructive develcpments, such as| Union Oii Co. of Calif 5s 1935 over the head with a shovel during a 'ar N 53, 28m T Pac b3 D 8 timeplece, weighs 13 pounds, and the ' Hoover's hint that he and his advisers | aid to Germany and South America, | United Drug Co. 55 1953. bt quarrel with W. G. Little over who was [nt & Gr Nor 6562, 8ls Tex: o il Dt stimi # | Vireinia Rallwas & Pow.' 35 1634 entitled to fed flow of irrigating Int& G Nad 683, 534 Third Avref 4s Tubles in its muvemenetx.\:]ln"i cost $250. ;::‘re trylnafm to find & met':od nt;: b‘r‘lrg; :g:ulgmm uémh:nior%n thkg:dewl& wfl ‘m‘e ch?n. 53 h‘:“iiu 06! e a values low igal int Hydro Kl 6844 78" Third Avadi 68 '60. Tt is to be used for bition. economic surcease e 3 3 . e e ‘ ¥ A