Evening Star Newspaper, July 1, 1931, Page 14

FINANCIAL. STRONGER PRODCE NARKET REPORTED Price Movement for Farm Supplies Has Shown Up- ward Tendency. Price tendencies were upward near the first of July and the tone of the market suggests increasing confidence, says the United States Department of Agriculture, Bureau of Agricultural Economics, Market News Service. Strongest features were cotton, grain, dairy and poultry products. Continued heavy supplies of live stock and green produce hampered any tendency to re- covery In these lines, but peaches and & few of the vegetables made price gains. | Melon Prices Declining. ‘Watermelon prices are declining as shipments in the Southeast approach their annual pesk. Georgia is expect- ed to have a crop of only 21,000.000 | melons, or 11,000,000 less than last season. As the North Carolina potato season neared an end prices of Cobblers ad- vanced to $1.60a$1.75 per barrel in that State. Eastern Shore of Virginia po- tatoes had declined to botiom of $1.75 per_barrel, but recovered slightly. The more important varieties of peaches are beginning to move from ! Georgta, although the season is still delayed and sizes of fruit are still running small. Last year the first Hileys left Georgia June 16, whereas this” year the first will likely move this week. Prices in producing sec- tions advanced near the first of July and for the first time since peaches started rolling in volume this season shippers and farmers have cleaned up‘ their holdings. ¢ A scarcity of good lettuce is helping push up the: price. Warmer weather in the large city markets apparently stimu- lated the demand for tcmatoes. and prices advanced in spite of the relative- 1y heavy shipments. Cantaloupe mar- kets were weak and prices lower. New York bean markets were quiet ‘with beans moving in only fair amounts, and mostly in less than carload lots. The market for red kidneys was weak with y‘nm sharply lower at New York and ichigan markets. Butter Trade Confident. Confidence bebcame more general in the butter market by the first of July, and buyers began to operate a little more freely. Even at the advancing ices, stocks of butter are rather close- Fynclelred in most markets. Warmer weather is increasing the demand for milk for table use and for fountain drinks, also the demana for cream for the production of ice cream. Fluid cream markets were reported improved owing to increased demand. thus reduc- ing the quantity available for butter manufacture. Prices cn all gire con- tracts in the Chicggo mercantile ex- change advanced. The city cheese market situation at the end of June varied somewhat in the different markets. At Boston the tone was firm and prices higher; in New York the one-fourth cent advance on fresh styles was well supported; at Philadelpjhia and Chicago dealers were less optimistic due principally to some let-up in speculative demand. On"the whole, the volume of cheese moved at | all points was probably somewhat under | | | | i that of the previous week. Egg Markets Gain. In response to an active consuming and speculative demand, egg prices ad- vanced 1 to 13, cents in New York during the last week of June, and other important distributing markets followed suit with similar, though less marked, price revisions. An increased retail de- mand apparently contributed to a lighter net into-storage movement than either during the corresponding week a year ago or during the previous week | this year. A firmer tone in the poultry market ‘was reflected in a recent advance of the better grades of live poultry at New York. Frozen poultry held about steady on all classes except top-grade fryers, which advanced 1 cent late in the week, due to good demand and cleared sup- plies. Turkeys continued firm under light' offerings at unchanged prices. A shipment of 1,500 boxes of Argentine turkeys is expected to arrive in New York early in July. It is reported that these will cost around 35 to 37 cents, laid down, that market for young toms, domestic birds in this class, are now | quoted at from 38 to 45 cents. A net| into-storage movement of dressed poul- try in the principal market centers, in- stead of a continued net out-of-storage movement, as a year ago, reflects the comparatively heavier receipts. i Live Stock Market Weak. Continued heavy selling of cattle re- sulted in declining prices near the end of June at Chicago, heavy steer values | falling back to the bottom levels of the | preceding month, when prices were the | lowest in 20 years. Heavy butcher hogs at Chicago con- ! tinued relatively scarce, also well fln-i ished hogs scaling below 250 pounds ' and particularly below 220 pounds. | Prices tended slightly lower. The per. centage of packing sows showed a sea- | sonal increase, the total on some days at Chicago reaching 35 to 40 per cent | of the salable supply. Choice lambs and yearlings declined slightly, but prices of other classes and | grades were mostly unchanged. Occa- sional declines of /25 cents brought prices down to the lowest point since 1914. Native lambs outsold Westerns early, topping at $8.50, but the late top was not over $8.25. The bulk of good and choice native ewe and wether lambs brought $7.75 to $8.25. Improved sentiment in the Boston ‘wool market, resulting from a change in buying policy on the part of some ‘manufacturers who previously had pur- chased only enough to cover orders for | & goods, created a heavy turnover in wool stocks. This resulted in a general broadening tendency in prices of comb- ing wools. While most advances were within the range of prices previously quoted on a few lines, the price ranges were moved upward. Grain Markets Firm. “While cash wheat prices dropped ! sharply to a new crop basis in domestic | markets near the 1st of July, a firmer tone developed in futures markets as a result of the continued unfavorable out- ook for Spring wheat in North America and prospects of some improvement in economic conditions in Europe. Corn advanced 2 to 3 cents per bushel influsnced by the strength in wheat and also by the fear of crip damage from the hot, dry weather which pre- vailed recently over much of the belt. Rye, oats and barley were firmer with wheat and corn, while flax advanced sharply, largely as a result of unfavora- ! ble new crop prospects. | Mill Feeds Fairly Steady. Wheat mill feeds averaged slightly lower in late June, but aisplayed scme s toward the close of the month. Demand continued at a low ebb and supplies were generally light. Spot cot- tonseed meal continued in slow request, but inquiry for new crop meal futures | was of fair volume. Linseed meal prices continued their downward trend. er- ings were small, but demand was of un- usually small proportions and principal- 1y for nearby shipment. Corn by-prod- uct feeds held fairly steady, with glu-, ten feed unchanged and prices ad- vanced on hcminy feed at some mar- kets, offsetting declines in others. How- ever, gluten feed was weak at most | Eastern markets, although there was a slight improvement in demand. | Old crop timothy hay prices declined about 50 cents to $1 per ton in the past two weeks, but new crop hay was avail- able at some markets $2 to $3 under old crop quotations. The tone of the New York market was unsettled with prices 1airly well ‘maintained. Most of the offerings were of an inferior grade and wl monyg siowy. | beets, per 100, 1.00a1.50; cabbage. bush- | per box, 1.0082.50. | spot, no guotation; July, 56. | Brooklyn GChem'cal Ban | Cont Bank THE EVENING STAR, WASHINGTON, D. C., WEDNESDAY, JULY 1, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. (Continued From Page 1. Stock and Sales— Dividend R Add 00. Patino Mine . Peerless Motor Car Penick & Ford (1).. Penney (1) (2 40). Penney (JC) pf A ( Penn Nixie Coment Penn Ratiroad (3). [ GasCh8).... ratrolm Cnof Amil) Phelps Dodee (1)... Phila Co 6% pf (3 *hil Read C & | . Philip Mor & €0 (1), Phiilin= troleum. . Plerce Perroleum. .. Pillshury Flour (2). Poor & Co (R) Porto Ric Am To(2). PRAmMTob s . Postal Tel&Cable pf, Prairie Oil & Ga: Prairie Plve L (3)... Proct & Gamb (2 40) Pub Sy N 1 (340). .. Puh &y N 1 nf 16y Pub Sve G&F of (5) . 581 Pullman Corp (4) 2 Punta Alegre Sugar. % Pure N . 4 101% Purs Of! pf R5% Prritv Rak 27% —Prev. 1931~ High. Low. 28'y 2818 90 2 2u = - R P T T ISP TP RPN PGt JR- SR anio Corp Radio Corp pf A(3% Radio Corp B (6). ... Radio-Kelth-Oroh A RR Sec 1 Catk C (4). Ravhestos Man ? 60 Readine 24 pf (2) Real Silk Hoslery. ... Real Silk Hosiery p Reminzton-Rand. ... Reo Motor Car (40¢) Repuhlic Steal. Republie S Revnolds Metals (2) Reynolds Tob A ($) Revnolds Tob B (3) Richfield Ol Rio Grande Ofl. . Rav Dich(m13404) Safes Stores (5). 141 St Joseph 9 St Louis & San Fri 15% St L-San Fran of ¢ 7 St L Southwestern. Savage Arms (2) Schuite Retall Stre. Seaboard Afr Lin Seab Air Line pf. Seagrave (60c) : Sears Roebuck (2%) 9 1008 2% 1214 4 Shubert Theaters Simmons Co Sinclair Consol O11 South Port Rico 8u Soyth Cal Ed (2 South Pacifio (8 Southern Rwy (m$ 4 Sparks Withing (1). 11 Spear & Co... . 508 Stand Brands (130), 70 Stand Brands pf (7). StndG& K (3%) % Stand Ofl N J (+2) Stand OfI N ¥ (1. Sterl Sec pf (1.20). Stewart Warn, Stone & Webster (3). Studebaker (1.20)... Superheater (2%).. Superior Ofl. Superior Steel. Sweets of Amer (1). ph (1.40) Corp(£0e) orp (2 56% 29% Texas G Sulp! 17% 7% Texas Pac Land Tr 9 4 Thermold Co.. Hign Lov. Migh. Low. ~Prev. 1931 13% 5% 27 16 3.) Tide W Tide Tol U S Le 6% 71% 38' Vnlean 26 2774 988y U 8 Leath pr pf (7). USPine & F(2). .., (T8 P&F 1at (120). U 8 Realty & Imp(2) 118 Rubher. .. . 11 8 Rubnher 1at of... U S Sm & Ref pf 3%. U1 8 Steel (7). .. 78 Steel pf (7)..... Tinit Stores A ..... Unit Stores pf (4) 1Tniv Leaf Tob (3} Univ Leaf T nf (8) 'niv Pine & Rad 1T PRT. A (at2 1F) Dividend Rate. Add 00. High. Stock and les— Third Avenue. o Third Nat TAv(m56c) er As (60c) Asof (8).. 4 Timken-Detroit A Timken Roller eo Products .. acco Prod A +95¢ Transamerica (40¢). Tri-Cont Corp. . .. Tri-Cont Corn pf (8) I'nion Ras & Paper 1nfon Carh & C 2. UIn 011 of Cal (2) f1n Pacifie (10) Uin TankCar (1.60).. 'nit Alreraft .. TTnit Riseult (2) Unit Carbon. . Uit Cigar Xtor Unit Corn (76e). Unit Corp f (%) TTnit Electric Coal 4 Unit Froft (4).. it G & Tm (1.20)., it G & Im of (K) .. Unit Place D pf 6%. . 118 & For Secur U S & For Sec nf 118 Gvnanm (1 &0) ., U S Indust Alcohol. . U 8 Leathar . » ther A. » » =2 amoZBmnSna e nnBumn " Vadasco Sales Carp. 23 Vanadium Corp'a... Det (4) Wabash RR. Waldorf 8y Walgreen pf ( 1 Walworth Co. arner Rros Pic Warren Bros (2).... Warren Fdv & P (2). 25 Wens Of] & Snow (2) 3 WessO& Snpf (4).. 1 West Pa El pf (§ West Pa El pf (T) West Pa Pow pf (§ . 308 . 808 1008 Pow nf (7). 50s Western Dairy (A).. \Western Dairy B. rn Md. . orn Pacific. .... tern Unfon (8).. 5 Westing AB(2).... 8 esting E1&Mfg (4) ting E&M pf (4). 40s Westvaco Chlor (2). White Rock MS 43 White Sewing Mach. Willys-Overland Wilson 106% 83% 80% 154 29 3T 64 66% 5% Yellow 11 10:30 A.M. 1:3¢ P.M.... 227 364 10% Pty ar rate b b 10% §Plus 80¢ in’ special o Plus avable in_stock. € Plus 6% in stock. in special preferred stock his year—no regular rate. n Plus 5% In stock. . 29 2 a1 & Copf. Woplworth (2.40) Worth Pump B (6).. Wrizlev (Wm) (4). . Truck . 141 Younes Snrine (3) Zonite Prod Corp (1) Sales of Stocks on New York Exchange. Dividend rates as ive % . e Pavable in cash or stock. h Plus 2% in 5 k Plus 3% in stock. m Paid l Baltimore Markets I Special Dispatch to The Star. BALTIMORE, Md., July 1.—Potatoes, new, barrel, 1.00a2.00; beans, bushel, 50a 1.10; asparagus, per dozen, 75a2.75; el, 60a80; carrots, per 100, 3.00a4.00; | cucumbers, hamper, 40a60; eggplants, | crate, 1.50a2.50; lettuce. bushel, 25a75; lima beans, bushel, 2.50a3.00; peppers, crate, 1.50a2.50; onions, per 100. 75a 00; peas, per crate, 50a1.25: spinach, . 60a75; squash, per bushel, 508 80 .tomatoes, crate, 70a1.75; apples, bushel, 50a2.50; apples, per box, 2.00a 2.50; cantaloupes, per crate, 75a3.25; cherries, per pound, 3al0; grapefruit, Dairy Market. Poultry, alive—Chickens, young, 18a 33; old hens, 17a22; Leghorns, 12al15; roosters, 13al4; ducks, 15a22; pigeons, pair, 20a25. u.-—ngcelgu, 2,286 cases; current receipts, 17. Butter—Gocd and fancy, creamery, 22 | 226; ladles, 17a18; rolls, 16a17; process, 19a20; store packed, 14al5. Hay and Grain Prices. ‘Wheat—No. 2 red Winter, export, no | quotation; No. 2 red Winter, garlicky, Corn—No. 2 domestic, yellow, 75a76; cob corn, 3.2523.50. 1 Onts—White, No. 2, 39a40; No. 3, 38a Rye—Nearby. 60a65. Hay—Receipts, none. While receipts of hay are ampie for all requirements. there 1s no surplus of heavy clover mixed being ordered. Such grades will bring a premium of $1 to $3 a ton, depending on the amount of clover. Fair to good timothy ranges from $24 to $26 per ton. Live Stock Market. Cattle—Receipts, 75 head; light sup- ply; market steady. Steers—Choice to prime, none; good to cholce, 7.25 to 8.00; medium to good, | 6.50 to 7.25; fair to medium, 5.75 to 6.50; plain to fair, 5.25 to 5.75; common | to_plain, 4.50 to 5.25. | Bulls—Choice to prime, none; good to | choice, none; medium to good, 4.50 to | to fair, 3.50 to 4.00; common to plain, | 3.00 to 3.50. | Cows—Choice to prime, none; good | to cholce, 4.50 to 5.00; medium to good, | 4.00 to 4.50; fair to medium, 3.50 to| 4.00; plain to fair, 2.50 to 3.50; common to plain, 2.00 to 2.50. Helfers—Choice to prime, none; good to chpice, none; medium to good, 6.00 to 6.50; fair to medium, 5.50 to 6.00; plain to fair, 5.00 to 5.50; common to plain, 4.50 to 5.00. | r;.;esh cows and_springers, 30.00 to 60. Sheep and lambs—Receipts, 700 head: | light supply; market steady: sheep, 1.00 | to 2.50; Spring lambs. 5.00 to 8.00. | Hogs—Receipts, 100 head: light sup- ply: market lower: lights, 7.75 to 8.00; | heavies, 6.75 to 7.70; medium. 7.75 to 8.00; roughs, 4.25 to 5.70: light pigs, 1.75 to 8.15: pigs. 8.00 to 8.30. | Calves—Receipts, 25 head: light sups ply; market, steady: calves, 4.00 to 7.59. silipaad e el ! NEW YORK BANK STOCKS | NEW YORK, July 1 (#).—Over-the- | counter market: America . Chase ... h : Commercial” Nagjo Pirst National N Y. n Co . Bankers k& Trust & Trust..... Gorn Exeh pire . Guaranty Irving .. Mannfacturers New York ATLANTIC COAST LINE. 1930. May gross 35,166,831 Net operating _income. . Five months gross. Net operating in 1590 774 421 AR sales gaina INVESTORS SHOWING TENDENCY TO BUY LONG-TERM SECURITIES Special Dispatch to The Star. NEW YORK, July 1.—Dealers in short-term securities said today that they had recently noticed a change in the attitude of institutional buyers to- ward early maturities. These have set the fashion for the investment market for the past nine months. At no time within this generation have banks and corporations, and even individuals, gone 50 completely from a long-term to a short-term position, or one-in which the highest percentage of liquidity was obtainable. The symptoms of a change came about the middle of June and were re- flected in an easing off in the prices for the extremely short municipals and rallroad equipment trust certificates. These, next to short Government paper, ‘were the nearest approach to cash that | the holder could carry in his portfolio. Almost all of this type of paper was quoted at the money rate and, as the time loans were being negotiated for from four to six months around 1% per cent, this became the approximate yield on the highest grade of short- term obligations. Facters Causing Change. The disposition to shift & part of the |funds that have been in short-term | securities into those of longer dates arises from two factors. One is the | feeling that long-term bonds have now | been through the mill and are suffi- ciently stabilized to guarantee the buyer against any considerable depreciation. The§ yield from 2'; per cent to 3 per cent more than do the short-term is- sues. This is a matter of great impor- tance to the institutions that are unable to employ their funds in the normal channels of business at 6 per cent and whose return on money on deposit has been reduced to a net of less than 1 per cent and on loans in the call mar- ket to below 114 per cent. The second influence urging the re- vision of portfolios from an overcrowded position in short-time paper to obliga- tions of longer term has to do with | 00; fair to medium, 4.00 to 4.50; plain general business. It has been an un-! usual phase of the investment situation [ for ‘over & year that long-term bonds, |on the average, have responded com- paratively little to cheap money. Ordi- kit | narily, low interest rates and high quo- | tations for long-term bonds go hand in |band. It is true that certain limited classifications of corporation issues | whose maturities are dated 25 to 40 | years off have stepped up considerably. | This was mainly because of their scarcity and their acceptability as in- | vestments legal for savings banks and | for estates. More than in any other [time in years the factor determining the trend of a long-term bond or a |group of bonds has been earnings. As |earnings have been universally poor throughout the industrial and trans- portation world, industrial and railroad bonds have dropped in many cases to | the lowest prices since they were issued. Business Picking Up. Now it appears that business shows more life. This revival will bring back a part of the lost earnings. It does not matter so much now what the rate of interest is in the time money or call money markets. Bonds in the next six months will fluctuate primarily with the index of business, rather than with the curve of interest rates. Those who have been turning their attention from short-term paper to long-term bonds are confident that business has toucked bottom, that the valley of depression ir as wide as it is going to be nd that, before the end of Summer, there will be definite signs of a pick-up in all of the major industries. This analysis has to do entirely with domestic bonds. There is comparative- ly little in the way of short maturities in the foreign dollar list. In thg, latter, the political as well as the credil factor has for some time, and will for many months more, determine the trend of the great majority of the long-term issues. The short-term foreign financ- ing is practically all in the form of Ib‘nk credits. With these the public has no close acquaintance. (Copyright, 1931). DIVIDENDS DECLARED NEW YORK, July 1 (#).— Omitter. Great Hamilton Inter_Textbook .. Nor Bond & Mtwe. Potter & Co..... 5 Acme Wire .. Crump (B T) Co bf Regular, Pe- riod. Q June 14 July 1 & 5 Pay- Hldrs. of any. Al Annap Daity Prod. 51,78 Bansicilla Corp A..Tizc B Coneol Traction N J 52 Corp 8ec 83 pf ... " 75¢c Selec Housshold Ut 30 Rap Tr. 35¢ ue. July 21 rnll’?iu“mc o AT DY June 30 July 31 s 15¢c Lefcourt Rity Co bl 75 Int Mach Mal Shi 0900p0ORHOO000DO 0OROOOOBOOD ot Office equipment manufacturers en- Joyed a June sales volume equal to that 8" |of May, executives in charge of ssles in the New York district said. The ac- tivity in recent weeks, they said, is sig- nificant, because May set a peak for sales this year. The cpening of new of- fice space and the al of second- hand and distress merchandise were sald to be contributing factors in the |WHOLESALE TRADE FIGURE ANNOUNCED By the Associated Press. The Commerce DCepartment an- nounced today that wholesale business in the United States during 1929 to- taled $69,628,448,061. The figure was based on a Census Burea'1 canvass of every city, town and tural area in the United States. It compares with approximately $53,000,- 000,000 of retail sales during the | period. The department said the difference wss accounted for by the fact that the wholesale figures include exports, sales to industrial consumers and”some du- plication in handling goods between producers and retailers and industrial consumers. The retail business, on the other hand, included sales to ultimate o wholesale figure, the department said, almost equaled the gross value of manufactured products and was about six times the gross income from farm production The survey showed 169,888 whole- sale establishments of all kinds in the % | country in 1929, $3,000,000 ORDER. tric locomotiv-s have been placed with the Baldwin Locomotive Works by the &ffitlnlhouu Electric & Manufacturing The locomotives are for the Pennsyl- vania Railroad in connection with the electrification of its New York-to-Wash- o livery of the engines will start <livery next Fall 1 | flecting the end of the half year— | Bei at NEW YORK, ‘July 1 (#).—Orders for | M mechanical pats valued at more than | Ni $3.000,000 for 54 heavy passenger elec- | Feopl BONDS ARE LOWER ONWAR DEBT NEWS| German Group Especially Af- fected by Unfavorable Action of French Senate. BY F. H. RICHARDSON. Special Dispatch to The Btar. NEW YORK, July 1.—Bonds ranged lower today on a reaction of sentiment | following the French Senate's action in insisting on reservations to nt Hoover’s debt holiday plan. Fear of an unfavorable outcome of Secretary Mellon's talk in Paris revived the whole dismal picture of a bankrupt Germany, unable to nupgon, her own currency in the ‘face of wholesale with- drawals, and the widespread effect of such a condition on the world's trade. However, :gllm!n“c Operators were Te- iterating their belief that no matter what occurred in Paris, international co-operation was now established fact and that no international money crisis would be allowed to develop. German government bonds were off 2 to 3 points at the opening, but re- covered most of the loss in later trad- ing. Young pian 5158 opened at a shade above 70, off over 2 points, and then recovered. Dawes plan 7s were oft. to 98 at one time and then made up the loss. Other German dollar bonds acted similarly. The South American list lost virtually all of the gains made last week, when President Hoover was expected to make some statement regarding aid to South America. While the President has def- * | initely said that no statement would be made, actual aid has been offered by the Federal Reserve, and private bank- ing syndicates in the last two days have announced the completion of plans for continuing debt service for various South American republics. The real reason for the weakness today was the fear of speculators that the Euro- pean situation would react on the entire foreign list. Colombian issues, however, were firm on the announcement of a New York banking syndicate that it had arrived at an agreement with the Colombian government. Australian and Japanese bonds were firm. In the domestic list, the only active group was the secondary railroad bonds, and here price changes were smal Nevertheless, it was significant th: prices held as well as they did, in view of the negative news from abroad. Car- loadings were reported on the uptrend. High-grade bonds rose slightly, re- r invest- ment demand. Atchison general 4s gained a small fraction. American Telephone 5s were firm. United States Governments and municipals were marked up. TREASURY CERTIFICATES. (Reported by J. & W. Selisman te— Maturity Bid o1 (Reported by J. & W. Seligman & Co Allis-Chalmers Co. 55 1937..... 101 American Metal 5ius 193¢ American Tel & Tel, $t3s 1943 1 a5, : 5128 1938 ‘28 1935, 102 58 Goodyear T. & R. 55 195 Grand, Trunk of Canada . 55 . National Dairy Prod. 8'us York, Chi & St L. 88 . 101 1033, 08 90% — e Washington Stock Exchange SALES. Caiptal Traction 5s 1 $10,000 at 83, $1.000 $1,000 at 83, 52,000 at Lanston Monotype—10 at 87%, 10 at 8715, 10 at 87%, 10 at 8715 10 at 87%. AFTER CALL. Pot. Elec. Pow. 6% pfd.—5 at 11315 Wash. Gas 6s 1936 “B"—$100 at 104%.. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer_ Tel. & Tel. 4'as '%.. Am. Tel. & Tel ctl tr 8s A t. R R, 88,00 Bid. Asked. 132 C. & P. Te Capital Traction R, City & Buburban Ss. Georgetown Gas 1st cons. 5% 8s 1953, - t, Ve omac Elec. omac_Elec. lex. & seric 6. & Elec. 4s. 'MISCELLANEOUS. Barber & Ross. Inc. - Chevy Chase Club 8tas. 11" Columbia Country Club 5izs... ) aper Mig. 65 Wash. Rwy. Amer. Tel. & Tel. (9). Capit action’ Co. Wask Gas Lt. Co. 4 N. & W. Stesmboat (13| Pot. Elec Power 6% pfd Pot. Elec. Power 8% Wash. Rwy. & El com. (7). Wash, Rwy. & EL pfd. 5) ... NATIONAL BANK. Capital (18 ¥ Gofumbia (13 Commercial District (8). Lincoin e Sond (se) Washington (i3 TRUST COMPANY. . Sec. & Tr. Co. (15) Continental Trust atl. Sav. & Tr. Union Trust (8 Wash. Losn & Tr. SAVINGS BANK. Sec. Bav. & Coi Seventh Street United States (30 Wash. Mec! FIRE INSURANCE. 21 American (12). Corcoran (10). s Firemen National s Se J328eERRes: ¥ F stee. T ey, "ot ¢ Stores pfd. 5 2 W eal Est. M. & G. Df ity Storage (4e). R %W corp. i3 The Carpel Corp. (L W. Mech. Mtge. com. l.‘ Waah Mot Bk Com. Woodwd. & Lothrop S 2532 * iz oty B 1931. | FINANCIAL. Received by Private Wire Direct to The Star Ofice UNITED STATES. (Bales are in $1.000.) Sales. High. Low. Close. Lib3%s 33-47.. 44 10216 10216 102 16 2-47. 5 103 3.38 48 10, .s. 123 1 15 102 5 102 11 102 15 106 . 50 108 1113 Am 1GCh6%e’4d. 49 42, Am B&R Lot b8 47, Am Sug Ref Argentine 68 A ‘57, Argentine 6s B ‘68, Arm & Co 4 %83y, Atchiscy ¢%s Atch Ariz 435 °6: At & Danv 45 '48. At C L col 48°52 At Guif bs Australia B&Ocony 4% B& O 18t bs ‘48, telgium Beigium 6%s 43, Belgium 7s ‘65 Berlin Cy Kl 68 '66. Berlin CyEl 63551 Bremen 78°35. .... BA & 7th Av5s'43.. Bk Ed gn A 58°4y.. BR& Pt 428 57, Bush T Bidg o8 '60. Calif Packing 58’ 40 anada 4860, Canada 43 ‘36 Cert-td deboiss 48 Ches Corp 63 *47... C&O4%sB'9%5... CB&Q 11dv3%s 49 Chi & Eas 11l 6851, Chi Grt Chi M & St Chi M&SIP 4438 E. Chi M StP&P bs 7| 2 Chi Un Sta s B '63. Chi Un Sta 6%8'63. C& W Ind cv 48 °62. Chile 18 4% Chile Cop db 68 °47. | CCCASt L4 %8 E. . Clev Term 4348 77, Clev Term 5 Colomb 68 Jan 61.. Colombia 68 ‘61 Oct Colo & Sou 4343 '36. Col G&E 58 May 'b2 Com Inves 5%s Dutch East 1 6 Dutch East 1 6: Finland 6%s Finland 7s ‘60 CH French Gvt 134841 nk'chen 6s ‘34 Baking 5%s ‘40 20 %847, 1 Goody'r Rub 68 '57. 11 GrandTr sf db 68’36 17 Grand Trunk 78'40 6 Grt Nor 434876 D. Grt Nor 4%8 77 K. Grt Nor gn i’b-“x IMBTistpriss.. 6 Cont 488lusecs € 13 108 10 103 10 25 104 23 104 23 11 101 810110 27 102 27 102 27 27 10227 102 27 30 102 27 10227 16 106 15 106 16 15 108 16 108 16 15 113 15 113 15 % 981 100t 9ita 107 100 100% 1 1 Third To4 Tk Third Av gy be 90,188 ) Sales. High 111 Cent ref INCent 4% s 11 CCStL&N 111 Steel 4% Int & Gr Nor 6s '62. 52. Int MM col tr 6s"41 Int Pap 68 A 4. Japanese 5% Japanese 6% Jugosl Bank 78 '57. L & N uni 45 "40 L&N4y%s2003.., La & Ark 58’69 McKes & R 5%, Man 8 18t 7% M Mont Pow bs 43 Montevideo 78 §! Mor & Co 18t 4% o e PRI T S - woh FenalonmaRen AmBRaun ~xS eanSE Nat Dairy %948, 118 N Eng T Ist 6852, NOT& Mb%s be. NY Cen rf 434820 NYCreim 682013 NY ELH&P b8 "¢ Y NH&H 3% NY NH&H NYNH&H db 4 " NY NH&H ¢%8 67, N Y Tetdym N Y Tel 6841, N Y Tel6s 43. NY W&B ¢%8 46, Nord 6% '50. Norf South b: Nor & Wn ev Orient dev § Orfent dev Pac G & Ki 58 43 Pac T&T iat bs 37. Pan-Am Pet 68 '34. Pan Am Pet 65 1940 Paramount Penn 6%s 36 . Penn P&Lt 415881 Peoples’ Gas 55 Pere Mar 4% Pere M 1st 55 ‘56 Peru 6s°60. Peru 6s Fhila Co Pnila & R Phillip Pet 6% Plilsb F' M 68 '43 P CCASIL ¢ 5 E& wiviise 60. a Pos Te! & C b Pressed St C bs Prunsia 68 °'62..... Public Serv 4s *71. Pub 8v G 4%s'67.. Pure Ol %8 °37... Queenland 7s*41... 4551 Rio Gr W 1st 45 °39. Rio Gr W elt 4849, RIAr&L é%s'34. Shinyetsu 6%s 52 Sinclair Ofl $3#°38 Pa Sou Pud“l'“‘ . 4. Av ref 48°00 15 10 Y ® —— @ peRnaSSeSaniinhican ancw vaRaZRl 200t 0aRan Sl unlcwan e e - mRBEAN gD s ®a 2222 - es - o LuusfRSnulanu~tRE 3 18 Low. Clase 82 82 | small, | roosters, 12a13. | 2-peck bas] INTERES REDUGED INPRINGEGEDRGE Four Banks Change From 4 to 31-2 Per Cent Pay- ments on Savings. By a Staff Correspondent of The Star. MARLBORO, Md. July 1.— Starting today, four Prince Georges County banks will reduce their interest on savings accourits from ¢ to 3% per cent. Four cther banks of the county will continue, for the present at least, to pay 4 per cent. The banks that will reduce interest are the Prince Georges Bank & Trust Co., the Clinton Bank. the First N: tional Bank of Southern Maryland and the Citizens Bank of Riverdale. There will be no change in the interest rate of the Citizens ink of Laurel, which has maintained an interest rate of 3 per cent on savings. Present Rate Maintained. ‘The banks which will continue to pay 4 per cent are the Eastern Shore Trust e P ern Maryland Statements were forthcoming from these banks explaining their pcsition. At the Eastern Shore Trust Co. following statement was made: “We are continuing to pay 4 per cent, not with a view to getting business, but solely because of a desire to make every possible effort to maintain the present interest rate of savings deposits. We have been able to pay this interest and all dividends in the past and think we will be able to continue to do s0. A large portion of our saving funds are invest- ed in first mortgages.” The Brandywine Bank explained its position as follows: “We are going to continue paying 4 per cent on savings, 8s our expenses are comparatively low. OQur savings funds, which are our inactive accounts, are largely invested in mortgages in_the community and in that way we have been able to permit the savings de- positors to share in the profits of the bank to the extent of 4 per cent.” Other Statements Similar sentiments were expressed by the Bank of Bowie, where Cashier Luers pointed out the business of that institution is not subject to serious com- petition. Mr. Luers said his bank would continue to pay 4 per cent at least for the present. The oSuthern Maryland Trust Co., re- ported as favorably inclined to the pro- posed interest cut, has taken no action, | but will consider the subject at the next meeting of the board of directors. The banks that agreed u the in- erest cut have issued Piox - ents explaining curtailed income has | made the step necessary. Washington Produce T"BII"A’I'—OHQ-PG\IHd prints, 2813 tub, Tla Eggs—Hennery, 18a20; ceipts, 16. Poultry, current re- alive—Spring brollers, 3 | pounds and over, 33a34; 2 to 2'4 pounds 32233 smaller. '28a30; Leghorns, large. 24225; small, 20a22; hens, large, 20a2: 18a20; Leghorn hens, 14 Dressed Spring broil ers, 3 pounds and over, 37a38: 2 to 2' | pounds, 36a37; Leghorns, large. 2823¢ small. 24a25: hens, large. 25a26: sma 23a25; Leghorn hens, 18a20; rooster:. | 16a15; Long Island ducks, 22a23. Meats—Beef, tcp, 14al medium | 121;a13; cow, 11; veal, 13a137; : Spring lamb, 16a17: pork loins, fresh Kkilled, 23: frozen, 17a18; fresh hams, 1715: fresh shoulders, 13: smoked nhams, 18':; smoked shoulders, 12: strip bacon. 21; lard, in bulk, 10; in pack- ages, 11. Live ‘stock—Hogs. heavy. 6.50a780: light and medium, 7. g igs, 7.00a 7.50; roughs, 3.5025.00: calves, 5.00a 7.00; Spring lambs. 4.00a6.50. Fruits—Watermelons, 30a75: canta- loupes, jumbcs, 3.75: standards. 3.00a .50 ys, 2.50; flats, 1.15. peaches, apples, June, per bushel, box stock., 2.50; apricots, 2.00a b plums, 1.25a1.50; grapes, Thomp- son seedless. 3.004 honeydews, 150a 1.7, hon jumbos, 3:00a3.50; .~ 3.00; ponys, 2.50a2.75: 3 . 5.00; California. 2.50a ; blackberries. 2.00a3.00; huckleber- 2.50a5.00; black raspberries, 4.50a 5.00;red raspberries, per quart, 25a30; cherries, 15-pound lugs, fancy, 2.0082.25: lemons, 6.5029.00; bananas, 1.00a 2.00; limes. per 100, 1.75a2.00; grapefruit, 2.50a3.00; rhubarb, per 100 bunches, 2.50a3.00. Vegetables—Potatoes, new, per barrel, 2.00a2.25; old, 120-pound sacks, 2.25a2.50; | tomatoes, Mississippi, flats, 75a90; South Carolina. a-rn crates, 2.00; homegrown, ets. 1.75a2.2 corn. 2.25; string bennsi 5%?17; limas, 3.00a3.25; ragus, 1. 5 peppers, 2.50a .00; squash, bushel baskets, 1.50; let- mf,%'. Neww;I&rk, 50-15: Iceberg, 5.50; cabbage, 5 g a, , 75; - plant. 3.00a3.50; P!l“fl| o o | per 100 bunches, 2.50a3. 100 bunches, 2.00; onion: | 50-pound containers, 1.75; 100 bunches, 2.00a2.50; mushrooms, 50; cucumbers, 1.00a1.25; kale, 50a75; spin- ach, 75a1.00. FOREIGN EXCHANGE. (Quotations furnished by W. B, Hibbs & Co.) Nominal e18: Seiiine Sncks value. . London, pound 34 Paris,. ‘franc Brussels. bel crown. . Stockholm, crown Third Av Toho El Pow Toho El Pow 78 §6. Tokio A%s 61 .. Tokio El Lt 6 63.. Un Pac 1at 48 47 Un Pac rf 48 2 Un Pac 43 Unit Drug Utd King 6% 118 Rub Int 68 °47. . Un St W 8%s A €7 Ud Sti W sla-é