Evening Star Newspaper, July 8, 1931, Page 14

A—14 - #x® FINANCIAL. PRICES IRREGULAR ONFARM PRODUCTS Changes in’ Supply Result in Uncertain Range in Av- erage Values. H Prices of leading farm products early | in the month were governed chiefly by | changes in supply, says the United States Department of Agriculture, Bu- reau of Agricultural Economics, Mar- ket News Service. Output of dairy| products and eggs tends to be less abundant after June, and markets be- | came st:ady to firm without sharp price | changes. Poultry markets have held better than usual at the season of in- creasing supply to young stock, but rices of small broilers and even of owls showed some wcakness the first days of July. Fruit and vegetables are mostly turning out good yields and the price level sags under the weight of supplies. Ther> was a let-up in ship- ments of live stock, but meats were in poor demand and lower prices of cattle, calves, hogs and lambs made no sus- tained recovery. - Melon Shipments Less. ‘Watermelon shipments apparently have passed their first peak of the sea- son. Cantaloupe markets were gener- ally lower and tomato prices also de- clined around the first of July. Although total shipments of tomatoes have de- creased, output is still about 45 per cent heavier than at this time a year ago. A lull occurred in movem:nt of Georgia peaches, and prices held firmly around $2 per crate for Early Rose variety at Georgia shipping points. City dealers reported a slightly downward trend in prach prices, although quotations”still were on a fairly high basis. Country prices of Eastern Shore of Virginia and Maryland potatoes dropped to previous low mark of $1.75 per barrel, but recovered slightly. New York Big Boston type lettucs sold lower in con- suming centers. Butter Selling Well. Butter receivers at most markets the first week of July found it compar: tively easy to keep arrivals moving, buyers operated quite freely and spec- ulators were showing more interest. Storage figures indicate that storing at the interior warehouses was consider- ably lighter than a year ago. Although an easier undertone devel- oped in some quarters, the tone of the cheese markets at distributing points was about steady on both fresh and held and cured goods. Trading, on the whole, was less active, although a few markets showed further improvement. The New York State Board price was Junchanged at 113 cents. Canadian quotations advanced fractionally. Poultry Markets Slow. Both live and dressed poultry con- tinued in liberal supply, while demand proved generally disappointing. The re- sult was unchanged or lower quotations on_most classes of fowl and chickens. In the New York egg market the bet- ter grades of mixed colors, which were in none too plentiful supply, advanced from 1 to 13 cents early in the month, while less desirable grades were only fractionally higher. A similar price sit- uation existed at other markets, al- though the price of the upper grades did not generally advance as much as in New York, and the lower grades re- mained mostly unchanged. Sluggish Cattle Market. ‘The protracted heat wave caused a sluggish cattle market at Chicago, but later trading was fairly brisk, with heavy steers getting the best action. Extreme top on fed yearlings was $8.50. Average price on packer and shipper hog droves at Chicago for the week ended July 3 was $6.75, compared with $6.68 a week earlier. The week's top on lambs was $7.75 for range lambs and a few natives, while the top for the previous week was $8.50. The wool market at Boston continued to show improvement, particularly in the quantities moved. The volume of purchases was not great, but the in- creasing tendency which featured re- cent markets has continggd. Price ranges were practically unchanged. but 2 greater proportion of sales were made near the top level of the price range. Grain Markets Irregular. Domestic grain markets were very | frregular in early July, influenced by conflicting developments in the world market situation. Wheat prices reached new low levels in domestic markets, with increasing movement of new Win- ter wheat and further adjustment to the new crop basis. Corn prices ad- vanced following threatened damage by hot, dry weather in the main pro- ducing areas, but weakened later on wopearance of trade forecasts of a 2,000,000,000-bushel crop. Prices of oats advanced slightly, with a fair in- quiry for the liberal offerings. Rye sold mostly lower, but barley held about steady. Feeds in Demand. Demand for the light supplies of feedstuffs improved somewhat and prices tended upward near the first of July. Heavy feeds were in better request than bran. Spring wheat feeds at Buffalo were firm, with scattered demand for bran and an urgent in- quiry for other types of wheat feeds. Cottonseed and linseed meals averaged somewhat higher. Hominy feed was in much better demand at Eastern ina‘,:kel.s and offerings were unusually ight. Timothy hay prices were mostly un- changed to slightly higher, except at Boston and Pittsburgh. Heavy stocks and poor demand caused prices at Bos- ton to recede to lower levels. Denl!rsi at that market were offering liberal concessions to consumers in an effort to move stocks. e Ee— EARNINGS REPORTED NEW YORK, July 8 () —United Fruit Co. for the six months ended June 30 had profit of approximately $6,700,000, before Federal taxes, com pared with $10,100,000 in the first half| of 1930. Profit for the June quarter ‘was around $3,613,000, before Federal taxes, against $6,300,000 in the like quarter last year. The company had a June 30 cash balance of $25,000,000, compared with $23,000,000 on the same date in 1930. ‘The company has a sugar inventory of $4,000,000 and Cuban government bonds amounting to $1,292,000 received for ! sugar allocated under the Chadbourne plan. Devoe & Reynolds, Inc., and sub- sidiaries for the six months ended May 31 reported profit of $199,377, before | Federal taxes, against $152,148 in the first half of 1930. BOI—I_D_ISSUES FEWER. BALTIMORE, July 8 (Special).—The State and municipal bond market has quieted down considerably after a pe- riod of getivity earlier in the Summer. ‘The number of new issues from Mary- land communities has slackened off materially in recent weeks. Montgom- ery County, however, plans to open bids on a new issue of $1,055,000 4} per cent general construction bonds next Tuesday. The issue will mature serially THE - EVENING STAR, WASHINGTON, NEW. YORK STOCK EXCHANGE o Received by Private Wire Direct to The Star Office. (Continued From Page 13.) Stock and Sales— Dividend Rat Pierce Perroleum. .. Pitts Stee! pf (7 Pittsburgh & W Va.. PRAm Tob B.. Prairie Oil & Gas. Prairie Pipe L (3) P ~Prev. 1931~ High. Low. 1 86 49% 6 96% 102% 95 118% 109% 158 148 105 103% 584 28 2 % 11% 5l 101% 66% 56% _ 24% 12 31% Pub Sve G&E pf(5) .. Pullman Corp (4)... Punta Alegre Sugar. Pure O11. o Pure Of] pf (8) ......100 Purity Bakeries (3) Kadio Corp. Radio Corp B (5). Radio-Keith-Orph A. 142 RR Sec I Cstk C (4). 2 and Mns (m1.21%). 108 Raybestos Man 2 60.. Real Silk Hoslery. .. Remington-Rand. ... Reo Motor Car (40¢). Republic Steel...... Republic Steel vf. Reynolds Tob B (3) Richfield Oll. .. Itio Grande O! Rossia [nsur (2 2 Rov Dtrh(m1.2404) way Stores (5) ph Lead (1). 9 Stl.cuis & San Fran. 15% St L-San Fran pf (§) 7 St L Southwestern. St L Southwest pf. Savage Arms (2). Schulte Retail Strs. Schulte Retail pf ( 4 Seaboard Alr Line. .. ears Roebuck (2%) * Second Nat Inv pf... 4 Secvel Inc.... Sharp & Dohme. Sharp & Do pf (3%). Shattuck (FG) (11'3) Shell Unton Ofl..... Shell Un Ofl pf (5% ) s 6 29% 17% 30 5 19% 5% 10% 6 25% 10 Sinclair Cons South Port Rico Sug. South Cal Ed (2). South Pacific (6). Southern Rwy (m§). Spalding (A G) (2).. Sparks Withing (1) Spear & Co..... Spicer Mfg pf (3).. Splegel-May-Stern.. 10 Stand Brands (1.20). 48 Stand Comel Tob. 2 Stand G& E (33%)... 4 Stand G & E pf (4). 109% 67% 65% 27 36 21 13% 6 4 24 3315 24 1T% 5% 204 14% 4 2% 88% b55% 6472 56 109% 101 8114 30% 13% 5 80% 8 Stand OII N J (12). Stand Ol N Y (1.60 Sterl Sec pf (1.20)... Sterl Sec cv pf (3). Stewart Warner. 25% Stone & Webster (3). 26 1414 Studebaker (1.20)... 118% 110 Studebaker Cp f (7) 40% 30 Superheater (2%). 1% % Superior Ofl..... 13% _11% Sweets of Amer (1). 21% 16% Telautograph (1.40) 36% 18 Texas Corp (2) 56% 29% Texas G Sulphur 64 2% TexasPC&OIl.. 17% 7% Texas Pac Land Tr. 23 18% The Fair (2.40) 14% 5% Third Avenue 8% 3% Thompson Starrett 9 4 Tide Water Asso Oll. 68 38 Tide Wat As pf (6).. Add 00. Higa. Lov. = 2 ~Prev. 1931~ High, 12 59 s s s s 28_ 19% Stock and vide - n 5% Timken-Detroit Axle 32 Timken Roller (3)... 1% Tobacco Products... 10% Tobacco Prod A t95¢. 6% Transamerica (40¢).. 6% Tri-Cont Corp....... 921 Tri-Cont Corp pf (6) 28% Trico Products(2%). Sales— Prev. Add 00. High. Low. Close. Close. CE AR 374 38% 2% .10% % 9 93% 33 d Rate. 93% 3% Union Bag & Paper.. Union Carb & C 2.60. Un O of Cal (2) Un Pacific (10) % Un Pacific pf (4).... Un TankCar (1.60).. Unit Areraft... . Unit Aircraft pf (3) Unit Carbon. Unit Cigar Store Unit Corp (76¢) ... Unit Corp pf (3) Unit G & Im pf (8) Unit Plece D W (2). U S Freight. U S Hoftman. U 8 Gypsum (1. U S Indust Alcohol. . U S Leather. U S Leather A. S Plpe & F (2) Realty & Imp(2 Rubber. .. Rubber 18t pf. .. S Smelt & Ref (l).16 3 Yoa % Unit Stores A. Unit Stor Univ Leaf Tob (3) Utl] P&L A (e12.15. 124 % Vadasco Sales Corp. 23%4 Vanadium Corp' Van Raalte 1st pf. 1 Va-Car Chem... 98% Va Elec & Pwr b 38Ys Vulecan Det (4). 61 27% 15 8% 20% 46% 32 26% 5714 19 21 5 3 Western Dairy (A). Western Dairy B. Western Md.... Western Pacific Western Pacific pf. ern Union (3).. Wabash RR (A)..... Waidorf Sys (1%)..; Walworth Co... 117% 26% 8 1214 9 161% 112y Westing A B (2).. Westing EI&Mfg (4). 372 Westing E&M pf (4). 30s West: . Willy Woolworth (2.40) Worthington Pump.. e ver of (7).. 1 . 357 124 Wrizley (Wm) (4).. 21 Yale & Towne (2) 6% Yellow Truck. 14's Youngs Spring (3).. 393 Yngstwn Sh&Tu(2). Zonite Prod Corp (1) 11 1813 49 6 12 12% Sales of Stocks on New York Exchange. 10:30 A.M. 1:30 P.M. 9% 20 *Unit of 13% | 1n stock 41 | PO T . M Plus 5% e Tl Plus 5 5 o 8 in special preferred stock. k ihis year—no resular rate. n Plus 5% in stock. « 800,000 « 1,800,000 Dividend rates as given in the above table are the annual cash Dayments based on the latest quarterly or half-yearly declarations. | irading less than 100 shares. 1Partly extra. . fPlus 9% in stock. ble in_stock. Plus 6% in extra. iPlus 4% sPaid last year— € Paabie in cash' or Stock. . hPlus 2% in_stock; Plis 3% in stock. m Paid Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., July l.——Potlw&, 2.15; new, barrel, 1.0 .00a2 25a1.00; asparagus, per dozen, 75a2.75; per 100, 1.00a1.50; cabbage, 60a80; carrots, per 100, 3.00a4. cucumbers, hamper, 25a75; eggplants, crate, 1.50a2.50; lettuce, bushel, 25a75; lima beans, bushel, 1.50a2.50; bushel, 1.50a2.00; peppers, crate, 1.50a 3.50; onions, per 100, 75a1.00; peas, per crate, 50a1.25; squash, per bushel, 40a 50; tomatoes, crate, 75a1.00; apples, bushel, 50a1.50; per box, 2.00a2.50; blackberries, per quart, 6al0; canta- loupes, per crate, 75a3.25; cherries, per pound, 3al0; currants, per quart, 10a12. Dairy Market. Poultry, alive—Chickens, young, 1 33; old hens, 17a23; Leghorns, 12al. roosters, 12al4; ducks, 15a72; pigeons, pair, 20a25. Eggs—Receipts, 1,511 cases; current receipts, 17a18; hennery whites, firsts, 20a21. Butter—Good and fancy, creamery, 22a26; dles, 17a18; rolls, 16al7; process, 19a20; store packed, 14al5. Hay and Grainy Prices. ‘Wheat—No. 2 red Winter, export, no quotations; No. 2 red Winter, garlicky, spot, domestic, 55%; July delivery, 541 Sales=Cargoes on grade, new whea! No. 2 red Winter, garlicky, 55%; No. 4, 551.; No. 5, 497;. Bag lots of nearby new wheat sold at a range of 60a65. Corn—No. 2 yellow, domestic, 75a 753 ; cob corn, 3.25a3.50 per barrel. Oats—No. 2 white, domestic, 37a. No. 3, 36a37. Rye—Nearby, 55a60. Hay—Receipts, none. General hay market is quiet. Receipts ample and outward movement slow. Comj tion of pasturage making itself felt. Fair to good timothy and clover mixed hay (old) ranges from $20 to $23 per ton. Between seasons now and situation very unsettled. Straw—No. 1 wheat, 12.00a12.50 per ton. No. 1 oat, 12.0012.50 per ton. Live Stock Market. Cattle—Receipts, £0 head; light sup- ply; market steady. Steers—Choice to prime, none; good to _choice, 7.75 to 8.00; medium to good, 7.25 to 7.75; fair to medjum, 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, 450 to 5.00; fair to medium, 4.00 to 4.50; plain to fair, ,355: to 4.00; common to lain, 3.00 to 3.50. P ows—Choice to prime, none; good to choice, none; 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. Heifers—Choice to prime, none; good to choice, none; medium to_good, 6.00 to 6.50; fair to medium, 5.30 to 6. rlain to fair, 5.00 to 5.50; common to plain, 4.50 to 5.00. Hogs—Receipts, 100 head; light sup- market steady; light, 8.00 to 8.25; Ee fes, 7.00 to 7.95; medium, 8.00 8.25; roughs, 4.75 to 5.85; light pigs, 7.75 to 8.10; pigs, 8.00 to 8.30. Sheep and lambe—Receipts, 1.000 head; light supply; market steady; sheep, 1.00 to 2.50; Spring lambs, 4.00 to 17.50. Fresh cows and springers, 80.00 to | 60. Calves—Receip®, 150 head; light sup- ply; market steady: calves, 3.50 to 7.50. NEW SECURITIES. August 1, 1933, to 1942. onAn issue of $23,000 of Charles County, Md., 4'; per cent school bonds was awarded yesterday to Nelson Cook & Co., Baker, Watts & Co. and Townsend | Scott & Co. of Baltimore as a group. | ‘The bonds mature serlally from 1938 to TREASURY CERTIFICATES. 101 13-33 per to 1961, priced to yield about 2 to 3.60 cent, by a syndicate headed by the nion Trust Co. of Pittsburgh. Erie County, N. Y., $2,350,000 3% per o:nt bonds, maturing July 1, 1951 to 2961, priced at 101% to yield about 3.65 to 3.67 per cent, by a syndicate headed by Estabrook & Co. Sees Steady Improvement. NEW YORK, July 8 (A).—Carl R. Gray, president of the Union Pacific Rafiway, said the business trend is upward and indications point to & slo but steady improvement. b okra, | \WALL STREET WATCHES EFFORT TOWARD RAIL MERGER PLANS BY CARLTON A. SHIVELY. , | Special Dispatch to The Star. | NEW YORK, July 8—With an inter- national agreement on war debts arrived at, Wall Street has focused its atten- tion cnce more upon developments nearer home. Eastern trunk line rail- road executives have resumed a long series of conferences which they have held since last Autumn in an effort to agree on terms for the merging cf East- ern railroads into four main systems. i ‘Wall Street expects either an early announcement of compiete harmony | on all details or a decision to make joint application to the Interstate Commerce Commission to approve the merger in principle. The roads could then sepa- | rately file plans covering specific provi- sions for each system after settlement of disputed points by arbitrators. Systems Outlined. Heads of the systems involved, in- cluding W. W. Atterbury, president of the Pennsylvania; P. E. Crowley, presi- dent of the New York Central; Daniel Willard, president of the Baltimore & hio; J. J. Bernet, president of the Chesapeike & Ohlo, anda O. P. and M. J. Van Sweringen, who control the C. & O., the Nickel Plate, the Erie and other smaller roads, which are general- ly known as the Van Sweringen lines, have drawn up the outlines of four trunk line systems. Most of the details also have been settled. The remaining points which will be discussed and pos- sibly acted upon today are the price which the Nickel Plate system will pay to the Pennsylvania for its holdings in Lehigh Valley and the question of track: rights to the Pennsylvania over g‘lt portion of the Nickel Plate running between Ashtabula, Ohio, and Brocton, N. Y. Anticipating difficulty in agreeing on these matters, as well as on Pennsyl- vania's demand for trackage and traffic solicitation rights on the Lehigh Val- ley and the disposition of the Virginian rallway, arbitrators were appointed last ‘Winter. They were Thomas W. Lamont and Themas L. Gates for the Virginian and Lehigh Valley matters and George T. Slade for the Nickel Plate dispute. Agresment was reached without the ar- bitrators on the right of Norfolk & Western (controlled by Pennsylvania) and Chesapeake & Ohio to seek joint ownership and operation of the Virgin- ian. Also that the Pennsylvania should have trackage rights over the Lehigh Valley and the right to solicit traffic in that territory. Pennsylvania Opposes. New York Central is the principal opponent of the Pennsylvania’s demand for track: rights over the Nickel Plate, but it is generally believed this right will be awarded. The arbitrator is known to be favorable to it, in case he should handle the question. In ad- dition to this the meetings will do further work on allotment of short lines and terminal rights. The. line-up as now agreed upon will increase the Pennsylvania's mileage about 15,775 miles, adding the Wabash, the Ironton and the Norfolk & Western to the present system. New York Cen- tral, with the addition of the Lacka- wanna, will have 12,745 miles. i Baltimore & Ohio, which secures the Ann Arbor, Reading, Jersey Central, Western Maryland, Chica & Alton and two or three minor lines, will be the smallest of the group with 11,230 miles. The Chesapeake & Ohio-Nickel Plate-Erie combination, with the Lehigh Valley, Chicago & Western Illinois, Pere Marquette, Wheeling & Lake Erie, will have 13,670 miles. The four systems Jointly control a number of small lines, bringing their total to about 60, 000 miles, or virtually one-fourth that for the entire country. President Hoovet announced last De- cember an agreement in principle by railroads on a comprehensive merger system involving virtually all the mile- age east of the Mississippi, excepting most of that in the South and in New England. However, the little things in railroad matters, as in life, count for a good deal. Personal ambitions and jealousies have caused a good deal of ‘delay in consummating the merger, which yet N v The | Golumbu: the four principal Eastern trunk line | Ol will have to pass the Interstate Com- | Envelop isv bf..sL18! @ merce Commission. Then, receiving ap- proval, possibly as much as a year or two will be required actually to put it into effect. (Copyright, 1931) NEW WHEAT SELLING POLICY IS PREDICTED By the Associated Press. CALGARY, Alberta, July 8.—H. W. ‘Wood, chairman of the Aiberta wheat pool, yesterday predicted the organiza- tion would soon adopt a new policy of marketing. The plans, formed at a gathering of officials here, are to be presented for approval of a conference of 70 pool delegates in Calgary. ‘The meeting of pool directors yester- day was attended by Premier J. E. Brownlee of Alberta. “Problems which have arisen may make a change in policy, temporarily least, necessary in the future oper- ions of the pool,” Mr. Wood sald, ut pool members may rest assured that their organization will be carried on under grower control. It is antici- pated a system will be worked out that will meet the situation adequately and {lve co-operative activity a new impe- Gasoline Prices Reduced. BALTIMORE, July 8 (Special).—The price of gasoline and blends dropped 1 cent a gallon in Maryland yesterday. The price to the consumer, including the tax, for gasoline now is 14.4 cents a gallon. For the dealer the price is 1 cent lower. The reductions in the prices of blends correspond with the cut in the price of gasoline. ‘The same price slashes became effec- tive at the same time throughout all the marketing territories, except Dela- ware, of the Standard Oil Co. of New Jersey. The company lopped off a cent a gallon on wagon and service DIVIDENDS DECLARED. NEW YORK, July 8 (®).— 5 Inity Hldrs. of e. d. Bhell Trans & Trad (Am’ Shares)...76%c Lias Petrol Rectifying.$2.15 Accumulatey $10 Stock. Mass Invest Tr....1% * Omitted Coronet Phosph..$1.50 Nat Wearing .. July 1 34y 3 June 10 g 8gan e5E & gran 4 : s 8RG8 8 g Bo 0o 000 O DODOO DOKO : KOPEOPOOOD OD: OO, > . « § &8 g¥ us & June 30 July 1 July 18 Corp 37 pr pf..$1.78 Wilson_ Stafione . 0 INFINAL TRADING fi"iMarket Sells Off at Close 9 After Steady Tone Dur- ing Day. BY F. H. RICHARDSON. sl Special Dispatch to The Star. NEW YORK, July 8.—After showing 2 finn tone most of the day, today's bond market sold off in the late after- noon in reflection of the resumption of liquidation in stocks. Nevertheless, even at the height of ';h:! ':rllll‘yn'l;) ]zrhlcnoheld fairly well. It e German group of dol- lar bonds that earller gains were com- pletely erased. South Americans clung to firm levels. Argentine 6's, after making up most of Tuesday's loss, remained about unchanged. Chilean bonds were higher on the day. In the domestic list, the selling af- fected convertible and stock option bonds such as Warner Bros.’ tures 6's, International Telephone Co: vertible 41.’s, Texas Corporation and Alleghany 5s to a substantial de- gree, but Junior Railroad bonds gen- erally remained steady. Industrials dipped narrowly. Sentiment at the start was mixed, with probably a little emphasis laid on the continued drift of capital from Germany as a reason for selling Ger. man dollar bonds. But after an aver- age decline of about a point in the German group buying came into the market. One helpful factor was the offer of leading German firms to guarantee a credit up to $119,000.000 for the Reich's debts. This was legalized by Presi- dent von Hindenberg today in a decree levying on all business concerns ha ing property exceeding $1,190,000 for guarantees to protect German credit. This reversed the downturn at Berlin and then was reflected here in firm prices for the same issues that had sold down in ly trading, including Young plan § and Dawes repara- tions 7s. " 10 PER CENT DEGREASE IN COTTON CULTIVATION By the Associated Press. The area of cotton in cultivation July 1 was announced today by the Depart- ment of Agriculture as 41,491,000 acres, compared with 46,078,000 acres in cul- tivation a year ago and 45,091,000 acres picked last year. The area is 10 per cent less than in cultivation a year ago. Production last year was 13,932,000, equivalent 500-pound bales, or 147.7 pounds an acre. The probable cotton production this year will not be estimated until the August report, in accordance with the law. At that time production will be forecast as indicated by the prospec- tive acre yleld applied to the acreage in cultivation July 1. Less average abandonment in each State after that date for the 10-year period 1921-30. MONEY MARKET. NEW YORK, July 8 (#).—Call money steady; 1': per cent all ‘Time loans steady: 60 days, 1',all:: 3-4 months, 1':al1%; 5-6 months, 1322 per_cent. Prime commercial paper, 2a2'j. Bankers' acceptances unchanged. Washinfl;étock achange SALES. Washington Rwy. & Electric 4s ‘51— :}.‘ooo at 9173, $1,000 at 91%, $500 at 2 Federal-American Bk. & Tr. Co—10 at 50. Mergenthaler Linotype—1 at 77. Real Estate Mtge. pfd—100 at 6'3. AFTER CALL. Washington Rwy. & Elec. 4s '51—$2,000 at 92, Washington Gas 5s '60—8$1,000 at 107. Washington Rwy. & Elsc. pfd.—10 at 100. Capital Traction—10 at 36%4, 10 at 367, 10 at 36%4. Capital Traction 5s "47—$500 at 83. Potomac Electric Power 6s '53—$1,000 at 11015, ‘Washington Gas 6s ‘A" '33—$400 at 102, $400 at 102%, $400 at 102%, $400 at 102%,, $300 at 102Y%, $300 at 021, $300 at 102, $300 at 102%, $200 at 102%, $1,000 ay 103%. Bid and Asked Prices. PUBLIC UTILITY. Amer.. Tel. & Tel. 4%as '3 Am. Tsl & Tel. cti. tr. 85 Anacostias & Pot. R. R. 5 t. gu c. ; of Capital Traction R. R. $5 City & Suburban 5. . series Wash. Ry. & Elec. 45 . MISCELLANEOUS. Amer. Tel. & Tel. (9). Capital Traction Co. (4) Wash. Light Co. ( N. & W. Steamboat (12) Potomac Elec. Pow, 6s pfd. Pot. Elec. Power $1a% pid. h. Rwy. & Elec. vom. (7 h. Rwy. & Elec. pfd. (5) NATIONAL BANK. Wi Capital (14) Columbia (12) Commercial “(st Washinston (i3) TRUST COMBANY. . Sec. & Tr. Co. (1! . ATt frruat Natl. Sav. & Tr. (123) . Prince Georges Bk. & Tr. (6) Union Trust (8s) Wash. & Tr. BAVINGS BANK. thesda_(6§) Bank of Bines 10 East Washington (12 Potomac (10)... Sec. Bav. & Com Seventh_Street (12). Uni! 30) Wash. Mechanics FIRE INSURANCE. American (12) Corcoran (10) Firemen's (8. National Union TITLE INSURANCE. (6h) e Y MISCELLANEOUS. Barbe r & Ross, Inc. €OM....... . Corp. (6). " Col, Medical Bdg, Corp, (6, 14 . & Gral 4| BBt dre. i . Sec, 00d rop Woodwd, & Lothrop ] dend. b‘l:o‘k:"clue& ‘extra. extra. 130c extra. §1% extra. e1%4% % ext 3%t extra, % extra. 4% extra. 5% extra. PRSI et e being estab- Alrcraft factories ar lished near Warsaw, Poland, WEDNESDAY, JULY 8, 1931. IBOND PRICES DROP | Corczew sore BONDSzmoce secusvca] | ABOR SEES TURN FINANCIAL. Received by Private Wire Direct to The Star Office UNITED STATES. (Bales are Sales. Lib3%s32-47.. 9 List4%s32-47. 29 Lithé¥%s l,l-" 23 50 2 Higt. Low. 10218 10216 1 103 12 103 104 26 104 25 104 26 14 101 13 101 12 101 13 102 24 102 24 10224 102 27 102 27 102 27 106 16 106 16 106 16 108 20 108 20 108 20 in $1,000.) Close. 02 18 10312 5 111310 11310 11310 AbItI P& P ‘l'l ‘53 Allegheny bs '44. Al 51 y Alleg Corp 58 50. .. Allis-Chalm 5837 Am AgCh 7 Am Beet Sug 65 '35. Am T&T 688 1°60 Am T&T 6%s 43. Am W Wks bs ‘34 AmWat Wk 6s'75. Am Wr Pap 6s ‘47 Argentine 5%s 6. Ma, Arm 4 Atchis 48 1905-556 Atchison ad) 4 Atchison gen Atchiscy 433841 At & Danv 4s'48. ALCL 1st 4802, At Gulf 5869 . At Ref deb 58 '37. Australia ¢ %8 56 Australia 65 '55 Australia B&Oconvikhs B&O 1stbs B&OTref b8'¥5. ... B& O 58 D 2000 B&O6s'96. B&OP&WY Belgium 6% Belgium 7s '65. Belgium 7856, Bell Tel L’a bs B "48 B Ind Loan Co 65'46 Berlin Cy £l 6855, Berlin CYEL 6%5'51 Beth Steel pin 08'36 Bolivia 78 5! Bolivia 7s Bremen 7s '35 Bk Ed gn A Budapest 63 '62 Buenos A 6s 61 Pv. Bush Ter con 53 ‘55 Bush T Bldg bi Canada s Canada ¢%3 Canada b5 ‘62. Can Nat 4%s ‘b4. Can Nat 438 '68. Can Nat ¢%s '65. Jan Nat s July O Cent Pac 4349, Cent Pac 58 '60. 0 Ry NJ g 58 1-td deb o3y s 438 Ches Corp bs - C&Ogendty C&O4HEAIS C&O4%sB'9 Chi & Alt CB&Q4}hs'Tl C B&Q 1lldv 4 Chi & Eas L1l Chi Grt West ¢s 69 Chi M StP&P bs 76 1 56 5 98 2 1% Sades. Hixn. Low. Close, 55% 98 72 70% 101 102% 25 s1 100% 86% 20 e 102% 104% 133% 108% 107 108 110 102% 1044 881% 89 8% 80% €9% 98 95% 99% 115 45% 96% 58% i 101% 105% 98% 100 9013 1W07% 100t 101% 23 35 Chi M & St P ad) b8 116 Chi&NW g 3%s'87. Chi&Nwn 4% s 2037 C&Nwn 4%8 ¢ 2037. Chi & NW con 4%s. Chi&NW rf 53 2037, Chi & NW 6%s 36 Chill&Prr ChiR Icv ¢%s 60 Chi RI&Pac 4%s'52 CCC& St L. Cologne 63 Colomb 6s J: Colombia G ‘61 Oct Colon O11 68 °38..... Col G&E b3 May °b: Com Inves 538 49. C Gas NY 4%s'95wi ConG N Y b8 '45. Con Pwr Jap 6% 36 Cuba Nor 5%s "42.. Del & Hud rf 48°43, Del & Hud 53%s '37 62 Det Unit 43s ‘32 Deatsche Bk 65 '32. Dodge Br cl 63 °40.. Dugquesne ¢%s '67.. Dutch East 1 Dutch East 1 ‘Goodrich cv 6 45, Good 1st 6348 "47 34, Hud &M ad) 6867« 5 15 e ey puase SonnmnERredo 3 104% 52 16 9% 9 6aby 700 TOW 106% 98% 100t 90% 107% 100% 101% 1os% 974 108% 61% 66 ¥615 104 108% 109% 98% b4 ot 108% 26% 24 34 105% Yok Yo% 99 593 687 64% % 9% 101% 6% 9% 79 86% 104% 52 9 % | ¢ P Un Dep 68 '72.. les. High Hud & M rf 58 5 Humble O1] 65 °37.. 11 Huth O&R 6%» 62, 20 Hungary 7%s 44.. 10 N BTIistpf6s .. 19 111 Cent 45 53 5 111 Cent ref 111 Cent 4% s 11l CCStL&N 4%s Il CCStL&N 63 A 111 Steel 4%s ‘40 Inland Stl ¢ %5 Inland Stl 4s% Int Rap Tr bs Int Rap Tr sta ‘66 Int Bap Tr 78 32. Int Cement 63 *4! Int & Gr Nor 6852, int&G Nad 6s'62. int Hydro El 654 Int M Co b= ret *41 Int Maich Int Pap 53 A *47 int Pap 6 '55. Int Ry C A 6% It T&T4%s 1at T&T cv 4%s8°39 37 Int T & T bs ‘55 55 Towa Cent rf 4s'51. 2 irish Free St {360, Italv 78 '61. .. 1 ftaly Pub Sv 78 ‘62, Tapanese 5%s Japane: Kan CFtS&M 4s°36 10 Kan City Sou 3s'50 1 Kan City Sou s ‘50 Kan City Ter 4s "60. KanG & E 4%#»"80. Karstadt 6 A Kresge Found 6. Kreug & Toll 68 °'69 73 Lackaw St 63 '50. Lac G St i bs ‘34. Laclede 6%s C ‘53 Lacl 5% 60 Lautaro Nit Leh Val 5s 2000 Lig & Myers 6s Loew’ Loril Z Lorillard 5 % Lorfllard 7s ‘¢ Lou G & EI 63 '52. L &N 43482003 L & N 5s B 2003 L &N 1strf 5348, La & Ark 68 °69. Lyons 6s°34.. McKes& R6% Manh Ry 1st 4s Man Ry 2d 4s 2013., Market St 78 40.... Marsellle 6534, Mexico 55 A ‘45. Midvale Stl 63 ‘36 Milan 6%s ‘52 il ERy & L 68 102'% 102% 9% 106% 106% wEZal - @ SmenSBomu 4 3 3 15 105% 7% M StP&SSM 5s gtd. M StP&SSM 6% MEK&T4sB62. MK&Taljbs’67.. 4 MEK&TprinsaA. Mo P: 24 Mo Pac 53 A '66 Mo Pac bs F °7' Mo Pac ref s Mo Pac5%sc . Mont Pdb 58 A '62. Mont Tr 1st 58 '41 Montevideo 7s ‘52 Mor & Co 1st 4% 5 10215 100% 9 0% 94% 101% 80% 621 85 94% 100% 98% 98Y 1044 105% 26 519 Y C&StL 438’78, 33 NYC&StLE%sA 5 NYC&StL6s'32. 26 N YEdison6sB'4¢ 5 N Y Ed 18t 6%s*41. 10 NY ELH&P 4s'¢9 NY NH&H cv db 63 NY O&W &n 4s°55.. Nord 6%s ‘50 Norf South b Nor Am Ed 5% NorOT&L Nor Pac 4597 Nor Pac 5s D 2047.. Nor Pac r16s2047. 64 Nor St Pw s A *41. 11 Nor St Pw K 2 Norway bs 63 Norway 5% Norway 6s'52 Ore Short L 5s gtd.. Oreg-Wash 4s ‘61 Orient dev 5% ’S! Orient dev 6s '63. PacG & K 53°42. . Pan Am Pet 6s 1940 10 Paramount 6s°47.. 7 Pathe Exch 78 '37 Penna ¢%s D'S1... Penn cv 4% ‘60 Penn gen 4%s ‘65 Penn 4%s°70. Penn 5s '64. Penna gen 5s 68, Penn 6%s '36. Penn O&D 4% 5 1 Penn P&Lt 4%s '81 53 Pere M 1st 48 ‘56 1 Pere Mar 4% Pere M 1st 53 101% 110 104% 106% 101% 103% 102% 108% 95 95% 101 1054% 3¢ 7103 108% 964 96% 101% . 108% 70 %% 82y 87% 71 65% 98% 104% 85 101% 95% Pos Tel & C bs ‘53 Public Serv 4s 7 Pub Sv G 4%s'67 Pure O11 5%s'37 Read gn 4% s A 97, 2% TO BETTER THES |Monthly Survey of Federation Points to More Helpful Business Outlook. By the Associated Press. ( A definitz change for the better in !business sentiment is seen by the American Federation of Labor. In its monthly survey of business the federation said the change was due vartly to the promise of relief for Eu~ rope through President Hoover's mora- torfum plan and partly to constructive d elopments in business which are be- ~oming evident. “This change is already being shown in many way: the federation said. “Business men are more confident in placing orders; stock prices and grain prices have risen. “The secretary of the National Asso- ciation of Purchasing Agents reports a change in sentiment away from hand- to-mouth buying toward larger orders for longer periods. “Wholesale priccs have risen for two weeks in succession. Once prices start definitely upward there may bz a scramble of buying, for stocks are low and merchants will hurry to take ad- vantage of low prices.” President Hoover's plan, the federa- tion said, “immediately awakened a spirit of greater conndence over the entire world. In this country funda- mental business adjustments had been going quietly ahead for some t'me, but pessimism and doubt still paralyzad business. The debt plan has brought a psycholcgical change that may mark the turning point toward improvement.” The number of unemployed in tas United States last month was estimated at 5,300,000. The federation said only 1,000,000 of those out of work in Janu- ary were employed in June. “Prom unemployment, part-time work and wage cuts in the first half of 1931 workers have lost over five billion dol- lars,” the federation added. “Their in- come is below the 1929 level by this amount. Workers' loss this half year amounts to one-fifth of the average value of all retail sales in the country in six months of 1929—it is more than twice the value of all our exports in a rosperous half year. is s ¥ Enm?nu loss business has suffered in the decline of workers' buying. Butter—One-pound prints, 28'2; tub, 1 Ezggs—Hennry. 17a19; current re- celpts, 14al6. Poultry, alive—Spring broilers, 3 pounds and over, 33a34; 2 to 212 pounds, 30a32; small, 1!2 to 2 pounds, 27a28. Leghorns, large, 24a23; small, 20a22; hens, large, 19a20; small, 17a18; Leghorns, 14al5; roosters, 13als. Dressed—Spring broilers, 3 pounds and over, 37a38; 2 to 2!> pounds, 34a35: 1Y, to 2 pounds, 32a33; Leghorns, large, 27a28; small, 25a26; hens, large, 23a24; small, 20a21; Leghorns, 15a16; roosters, 15a16; Long Island ducks, 22a23. . Meats—Beef, top, 14al5; medium, 12'2a13; cow, 11; veal, 16; Spring lamb, 16a17; pork loins, fresn killed, 19a20; frozen, 17a18; fresh hams, 17)2; fresh shoulders, 13; smoked hams, 1813 smoked shoulders, 12; strip bacon, 21; lard, in bulk, 10; in packages, 11 Live stock—Hogs, heavy, 6.50a7.50; light and medium, 7.50a7.75; pigs, 7.00a 1.75; roughs, 3.0025.00; calves, 4.00a 7.00; Spring lambs, 4.00a7.00. Fruits—Watermelons, 35a90; canta- loupes, 3.00a3.50; honeydews, 1.50a1.75; honeyballs, 3.2583.50; oranges, Florida, 5.00a5.50; California, 5.50a6.00; limes, per 100, 1.50a2.00; lemons, 7.00a9.00; apples, June, 1.00; box stock, 2.5082.75 peaches, 1.50a2.50; pears, 3.00a3.50; cherries, fancy, 15-pound box, 1.50a 2.50; homegrown, per crate, 3.0024.00; plums, 1.75a2.25; grapes, Thomp- son seedless, 2.25a2.50; pineapples, 3.00a 3.50; blackberries, 4.00a4.50; huckle- berries, 2.00; raspberries, black, 3.002 4.50; rhubarb, per 100 bunches, 2.50a 3.00; currants, 5.00a6.00; gooseberries, 4.00; mangoes, 4.00. ‘Vegetables—Potatoes, per barrel, 2.258 2.50; sweets, per Bushel, 1.75a2.00: to- matoes, homegrown, two-peck baskets, 1.00; Mississippi, flats, 75; Florida, six- pan crates, 1.50; turnips. 75; string beans, 75a1.00; limas, 2.00a2.25; corn, 75a1.00; squash, 50; peppers, 2.5023.00; lettuce, Iceberg, 4.50a5.00; cabbage, 25a35; spinach, 50; kale, 35; onions, Texas, 1.25; Spring, per 100 bunches, 2.00a2.50; beets, per 100 bunches, 2.00; carrots, per M0 bunches, 2.50a3.00; eggplant, 4.00a5. okra, per pan, 60a75. POTATO MARKET. CHICAGO, July 8 () (United States Department of Agriculture) —Potatoes, 45; on track, 151; total United States shipments, 748: steady, trading fair; sacked per hundredweight, Oklahoma Bliss_Triumphs, best, 2.25: poor, 1.50 up; East Shore Virginia Cobblers, 1.70 al.75; barrels, 2.80a2.90; Norfolk sec- tion, 2.65a2.70. FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal gold Selling checxs 7y ue. . 34.8665 34.8€17-33 391%c 3.92Ahc 13.96¢ 2372%¢ 5:235c Rome. lir: Zurich, | Athens, Madrid, peseta Vienna, Budapest Pragu Warsa 26.78%:c 26.8113¢ n, Oslo. crown’ . Stocknolm, crown . Czechoslovakia's average daily output of steel is increasing. Sales. High Low. Close. 9% 9! " Taiwan EP 5%s'71123 ;3 Rhine West 6s '55. Rhine West 78 ‘50. . StL&SFindsA.. 17 $. 150 23 1 SanA&APds'4.. 1 Sao Pau7s’40 rcts. 2 36, 2 15% 107 9% 89% 9% 79 2 94 Shell Un O11 68°49.. 29 '52.. 3 Sinclair Ofl 614838, Sinc O 7scvA 'l; 1 Sou Ry 68 "5! Sou Ry 6%8"56. . St Ofl N J 68°46. StOIl N Y 43 Swiss 6. U4 St1 W 6%48A 51 C'51 8 '69 Util Pow 6%3 "47.. Vanadium Stl 5 Vert Sug 1 Va Ry 18t Wabash 4%s'78 Wabash 24 5. West Md 53577 West Pac 63 °'48. . Weat Un Tel 58 '51. West Union 53 '60. . Wick Spen cv 7835 Wick Sp v ct 75'35 Wil-Ov 15t 6%533. Wil&Co 1 k) Wis Cen gn ¢s 36 Yokohama 63 °¢: Yxstn Sr&T 68 7T ¥ng StI&T 58 B'70. 7l 1007 100 ”» Ld