Evening Star Newspaper, July 8, 1931, Page 15

FINANCIAL. CURBISSUES MOVE | - INNARBOW RANGE «Public Utilities Prove Fea-| ture of Trading—Wool- worth Active. BY JOHN A. CRONE. Special Dispateh to The Star. NEW YORK, July 8—The Curb Ex-; ehange went through a series of miner ) . rallies and relapses today without bring- ‘_ o7y - ing about more than a moderate amount | 104, of trading. 45 Public utilities, under the direction! 30% of Electric Bond & Share, were active. | The leader around midday was up more than a point. The record week-| (ly reduction in gasoline stocks had | little effect on the oils, as it was off- set by further gasoline price cuts. Citles | Service moved within a narrow range. International issues, coppers and store shares were features in the fore- | noon. Woolworth, Ltd.. common, which } opened on 6,000 shares at a fractional ! gain, again was one of the most active ! atocks in the entire. list. Brazilian Traction was a trifle lower. Montreal Light, Heat & Power dipped about a point. Ford Motor Ltd. dur- ing this movement was virtually un- changed. Swift Internatfonal on a few 'sales lost a point. After midday some improvement came into this section | of the list. i American Commonwealths Power A and B shares eased, despite the 12 ~months’ earning statement showing ‘gains in both gross and net. A drop “of 3.3 per cent in June and 5.1 per cent in five months' sales brought “slight recessions in American depart- ment_stores. Public utility preferred securities in some instances enjoved wide swings. Interstate Power of Delaware preferred lost 23, points. Public Utility Holding Co. of America preferred was down 15, Miscellaneous industrial preferred is- sues also were somewhat more active than usual. Celanese Participating pre- ferred rose 6 points. Rolls-Royce pre- ferred was up 1% points and Standard Ol of Ohio preferred up 1',. & Aluminum Co. of America sheared «off 2 points as Aluminum, Ltd, B and C warrants slipped 2 and 25 points, respectively. Copper shares were lower on the expectation that monthly sta- tistics soon to be published will prove unfavcrable and that 7!;-cent copper is a possibility. A few small offerings of the red metal at 8 cents were re- ported today. Columbia Pictures wa$ a soft spot in the amusements. Natural Gas shares during the morning were somewhat firmer than at the previous close. In- ternational Cigar came out more often Rhan usual without benefiting in price. 8's 2% 440 8 ELECTRICITY OUTPUT. NEW YORK. July 8 (#).—Production {of electricity by the electric light and power industry of the United States for the week ended July 4 continued the improvement shown by the preceding week. The total of 1575,780.000 kilo- watt hours was 2.8 per cent below the like week of 1930, compared with a ‘decline of 3.9 per cent shown by the preceding week from the 1930 period. Increases over last year were shown by the Atlantic Seaboard, the Chicago dis- trict and the Pacific Coast district. _CHICAGO STOCK MARKET By the Associated Press. CHICAGO, July 8.—Following is the complete official list of transactions in :uu::ks on the Chicago Stock Exchange Sales in STOCKS hundreds. 250 Am_ Equities . 190 Assoc T & T Al.... 830 Assoc Tel Uil ... 50 Assoe I nv . 8300 Bendix ~Aviation 100 Cities Service % 40 Coleman Lamp & .. 773 Com'with Edis 20 G 4 £9 K 1030 Li 109 Loudon Pack 100 Lynch Corp 20 Viavanail Fieid A Mirs Note—All stocks are sold in one exoepting those designa which shows those 4 Am Maracaibo. 13 2% BrazTr & Lt (b8%). 4 Citles Serv pf (6)... 4 Consol Aircraft % Bast 8t Pow B (1) % Golden Center. . 715 Gt At&Pac Tea nv(6) 1 4 Hamilton Gas rets. .. h stocks were sold in Stock ana Dividend Rate. Aero Underwriters. . AfMifated Prod 1.60.. 2 19% Shies =2 ek, Co of Am 14258131 AluCoof Ampf (6). 1102 Aluminum,Ltd B Aluminum,Ltd Cw. Am Cit PAL Bb10%. Am Com P A (b10%) Am Com Pr B(b10%) Am Cyanamid B, 19% 1% 123% Am Gas & El ot (6).. Am Laundry Mach 2. 258 AmLt&Trpf (1%). 1 5 tural Gi 4 Anglo Chil Nitr. Appaiachian Gas Atlas Utilities wa. Auto Voting Mach. Babeock & Wil (7). Benefic:al 1L (1%) Bigelow-Sanford .3lue Ridge Corp Blue Ridge cv 3 89 Buff N&EP pf (160). 1 Bulovacvof (3%).. 1 Bunker Hill & Sulliv 1508 Burco Inc g Canada Marconi..... 7 Carib Syndicate 8 Celanese 1st pf (7).. 25s Cent Hud G&E (80c). 1 Cent Pub SvcA b10% 10 i Cent Stat El (b10%). Chain Store Devel. ‘4 Chat Ph Al n.v. (1 2 Citlea Service (g30c) 165 5 Claude Neon Lts, Inc Colon 011, Col Oll & Gas vte, 4 Co Picture vte (75c). Cmwlith Edison (8).. 25s Cmwlth & Sou war.. 9 Com Wat Serg12%e 19 2 Consol Gas Ut A 1 Consol Gas Ut Bvte. 2 Con Gas Balto (3.60). 1 Con Min & Sm (f21;) 108 Contl G&E pr pf (7). 258 Cont Shares conv pf. 1 COrd COrp..cuvveree 82 Creole Petroleum. .. Cresson Consol (4c). Crocker Wheeler. Crown Cent Petrol. . Crown Cork Intl (A) Curtiss Airports vte. Dayton Atr & Eng... 1 1 1 2 6 1 ‘ 6 5 5 2 Driver Harris new. . Dubilier Cond & Rad Duke Pow (5)...... Duquesne Gas Corp.. Durant Motors. East G & F Assoc 5 . 258 23 East Util Assoc (). Elsler Electric Corp. Elec Bond&Sh(b6%) 715 Elec B & Sh cu pf 5.. Elec B & Sh pf (6).. Elec Pow Assoc (1). Elec Pow Asso A (1) Elec P & Lt op war.. 31 Shareholdz (b6% ) mp Corporation. .. Europ Elec deb rts. . Fairchild Aviation. . Fandango Corp. .... Fansteel Products. . Federal Baking Shop Federated Capital. .. Ford M Can A (1.20) Ford Mot Ltd 36 3-Ge Foremost Fabrics. .. Fox Theater Cl A... Gen Aviation....... en Empire Cor (1). Gen Leather Co..... Gen Theat Eq cv pf. Glen Alden Coal (4).. Globe Underwr (15( 1 Goldman Sach T C. . Gramo Ltd cod (5fc) . Graymur Corp (1).. 3 2900 a5 D 910 e 0000 38 S VIS b 80 b e =TT B TS RO e 00 Groc Strs Prod vie. . Guardian Invest.... Guif Ollof Pa (1%), Hazeltine Corp (2).. Hecla Mininz (40c). Hudson Bav M &S .. Humble O11 (12%).. Hygrade Food Prod. Indiana Pipe Line(1) Ind Ter 1llu Ol A. .. Insull Inv (b6%). ... Insurance Sec (40¢).. Intercontinent Fet n Int Cigar Mach (2%) Int Hydroev pf3%. Int Petroleum (1) Int Utilities B Int Util pt pf ( Interstate Equities. Interst Pow pf (7).. 10s lallan Suverpow A. 2 Jer Cen P&L pf (7)..1508 Kolster-Br (Am 8h). 1 Lackawanna See (4). & 25 o 2 . R T T W 7514 319 102 1% 31% 30% THE EVENING STAR, NEW YORK CURB MARKE the letter s (80s) (250s), b; s ted by 3 Bales— Add 00. Open. High. Low. Close, RO SR AT ~Prev, 1931. Stock & High, Low. Dividend Rate. 25 14% Lone Star Gas n 112% Long Isld Lt pf (7).. 50s % Louisiana Lan & Ex. 1 Magdalena Synd. . 194 Mass Utev pf (2%) Y % Mavis Bottling (A).. , May Rad & Telev(1), Mead Johnson(t4%) Memph N G Co (60¢c) Met Edison pf (6)... Mid WSt Ut (1%).., Mid West Ut (b8%). Mfd W Utll A war... Midland Unit (b6%). Mo-Kan Pipe L (A). Mo-Kan Pipe L (B). Mont Lt HEP (13). Deorn ag-Hud Pow (40c) Niag-Hud Pow A w.. Niag Sh Md (40¢)... Niagara Sh,Md war.. Nipissing. . . Nitrate Corp Chile B. Nor Am Aviat A war Nor Am Util Sec Novadel Agene Ohlo Copper. PacG & B 1st pf1%. Pac G & Epf137%. Pan Am Alrways. Pandem Of1. Paramount C: Parke Davis (+1.55) . Pennroad Corp (40¢)., Peoples Lt&Pwr (A) Philip Morris Ine. ... Phoenix § C pf (3)... % Pledmont Hyd Eln w Pitney Bowes (b4 %) Plymouth O1l (1). Polymet Mfg....... Powdrell & Alex 3% . Pratt & Lambert (4) Premier Gold (12¢c).. Prudence Co pf (7 Prudential Inv Prudential Inv p! Pub Ut{] Hold war... Pub Util Hold Cp xw Pub Ut Hold cu pf(3) 1 Pure Ol pf (6)...... 208 Pyrene Mfg (80c). 5 inbow Lum PrA.. 2 2 Reynolds Invest. ... Roch Gas&F pt D(6) Rock Lt & P (90c).. 3 Rolls-Roy of Am pf. 1508 Rubberoid Co (4). St Anthony Gold St Regis Paper (60c) Salt Creek Pro(1.40). Schuite Un 5c-31 St.. Segal L & H (a50¢c).. 3 Selected Industrie: S1,Ind full pd (5%) §!s Ind prior (5%) Sentry Safety Cont.. Shenandoah Corp. ... Shen Corp pf (a3)... 1 1 508 3 SoCal Ed pf A (1%). South CEd pf B1%. South C Edof C 1 South Col Pwr A South Corp. . SouthernNat G G Southld Royalty 20c. pleg May Stern pf.. Stand Ofl of Ind (2). Stand Oil of Ky 1.60. Stand OIl, Ohio (2%) Stand Oil. Ohio (5) Strauss Roth Stutz Motor Car. Swift & Co (2).... Swift Internat (3)... Syracuse W Mach B. Taggart Corpn...... Tampa Eleciric (32). ‘Teck Hughes (60c).. Thatcher Sec Corp. .. 4« Trans Lux DL PS.. Tri-Cont Corp wa: Triplex Safety Gi Tri-Utilities. % Tubize Cantill Un Nat Gas Can (1). Unit Corp war. Unit Founder Unit Gas Corp. Unit Gas war Unit Gas pf (7). Unit Lt &Pwr A (1), Unit Pub Service 11 8 Elec Power ww.. U S Elec Pwr war. U 8 Foll (B) (50¢) Unit Verde Exten (1) Ut P&Lt(at1 023%) Tl Pwr & Lt pt Uth & Ind nf (1%) Utllity Eauit 2) o wo F 33 O < T O < O L £ =L LTS PO IS IR PP ) as Va Pub 8v pr (7) Waitt & Bond(A)(2) Walker Mining 4 Wenden Copper. W Va Coal & Coke. Wil-low Cafe pf (4). Wlworth (FW) Ltd. 295 i “Y" Oil & Gas 8 lend rates in dollars *Ex dividend. e &% In “Stock. iPlus 2% in stock. | nPlus 4% in stock pPal 1P iv stock. Bales— Add 00. Open. High. Low. Close. 3 17 1 1 10% toel © Paid last year—no 1% 110% 1 17% 118 2 k) k) Plus n” stock. 1n WASHINGTON, D. Received by Private Wire Direct to The Star Office 17 1915 3 3 20 261 183, 428, 102 C., WEDNESDAY, Grain Market By the Associated Press. CHICAGO, July 8.—Wheat reach- ed new low price records late today co- incident with reports of European finan- clal troubles, including suspension of two banks in Barcelona, Spain. Weak- ness of stocks and cotton was respon- sible for some selling of grains. Word of large chartering of vessels by Russia was also a bearish influence. July and September wheat sold at bottom levels unequaled since 1896. ‘Wheat closed nervous, %sall'i down corn unchanged to 33 off and cats un- changed to % decline. Provisicns gave way under late selling and closed at 2 to 15 cents decline. 1ow. Septem December OATS— July . ... September December 5 E\'D—— September December New York Cotton Special Dispatch to The Star. NEW YORK, July 8.—A smaller de- crease than had been generally expect- ed in the official cotton acreage figure had a depressing effect on Cotton Ex- change prices today. g Under heavy selling pressure prices broke half a cent, bringing October to 9.60, compared with 10.70, the high level reached 10 days ago. Short cov- ering toward the close steadied the list 10 points or more, leaving tEmm 37 to 44 points lower than at the previous close. Spots were reduced 40 points to 9.55. Cotton range: July 553535 8223535 NEW YORK BANKS IMPROVE POSITION ‘Strengthening of Resources Most Institutions Is Revealed in Survey. | 35enenl N=2agsr Published statements of leading New York City banks reveal a general strengthening of the position of most of these institutions in deposits and total resources as compared with March 25 statements, according to an analysis issued by John P. Barry, president of New York Depositor Corporation. Mr. Barry points out that National City Bank deposits are up more than $120.- 000,000, Bankers Trust up $14,000,000, Chemical up $19,000,000, New York ‘Trust up $45,000,000, Irving Trust up $47,000.000, Empire up $3,000,000 and Guaranty Trust up $128.000,000. The analysis shows that several of these institutions transferred substan- tial sums from surplus and undivided | profits to special reserves for contin- o | gencles. According to Mr. Barry, it is {the intention of all bank managements |to set aside this quarter ample reserves | for all possible losses, and in his opir- |fon the second-quarter statements fully | reflect the worst that is expected. “Liquidity of resources at the end! |of the second quarter continued to be |the most notable feature of the state- ments and in almost every instance w note substantial increases in the hold- |ings of United States Government {bonds.” the analysis declares. “All in 1 the banks of New York City at the l-end of the greatest of all bear 'S markets are in excellent shape. We be- 20 % ased on last quarteriy or seml y 4% in stock. ." m regular rate. osh 30 Barke: ect C 150 Piies Winicr 200 Process Corp 0 P . s 100 Stand Dr 100 Stand Dieds pf yne 110 Wayne Pump 180 Western Cont tock sales of Ui Tel A 'BONDS. Insull_Util 65 '40 Chic Ry 5: 27 Chic Ry ctfs bs d sales today. - —e- 2 3 3] 33 £16,000. 4t g 8% ) 6212 621z ' SHORT-TERM SEEURI‘TIES‘ (Reported by J. & W Sellgman & . 101 4 21 5 1943 110 - 100% Chalmeis Co. 5s 1937 Alherican Betal sty 193 can Tel. & Tel. 5'; Onio 4'as 1933 tavian Pet. Corp. 4'5s i I Tel. of Cana ‘slifornia Pet Corp. . Ry. Co. 4V . K. R.'bs. land’ 45 193 1947 1 of o1 § 1. Ma, EEN Dairy_Prod. Blss 1948. 1 . 65 1932 .. tisnd Ge Republic sinelair uther, i 11 il o is 1935 100 ° 1933 Cor Grter R 18015 10012 97 106% 10215 102 943, # 943, 1081 03 9215 5 CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS NEW _YORK. July 8—The following | & is a summary of important corporation news prepared by the Standard Sta- tistics Co., Inc, New York, for the Associated Press. News Trend. Thirty-six chain store companies and mail order houses sales in June were 2.09 ‘rer cent below last year and for the first half year were 4.35 per cent under a year ago, according to a com- pilation by Merrill, Lynch & Co. June sales for the 33 chain store companies, exclusive of the mail order houses, were more favorable, and instead of register- ing a reduction, showed an increase of 1.75 per cent. Net operating income for the first five months as reported by 171 class 1 railroads showed a decline of 38.8 per cent from the like period of 1930. The decrease in May net operating for the same roads was slightly larger, being 40.4 per cent below that of May, 1930. Crude oil production failed to con- tinue the curtailment reported last- week and gained 40,550 barrels to a daily averege of 2,482,500 barrels for the week ended July 4, according to the American Petrcleum Institute, East Texas and California cut their output, but the increase of 47,300 barrels by Oklahoma was too great to be entirely offset. Gasoline stocks at refinerie; were 2,170,000 barrels lower than Jast Week, reducing the total on hand to| 41,868,000 barrels. The Companies. Citles Service—17.21 cents dividend gnl blunkers shares; paid 15.46 cents uly 1. General Cable cuts c:pper wire prices Yo E!llllisw 10%; cents, a pound, in car~ o Golden State Milk Products-—Chair- man requests stockholders to exchange shares for stock of Golden State, new company. Penney (J. C.) Co. June sales off 6.3 per cent; six mcnths off 10.5 per ces Cerro de Pasco Copper- cents quarterly common dividend; pald 37 cents formerly. Dominion Stores, Ltd.—Sales four weeks to June 27, up 8.7 per cent; 26 weeks to June 27, up 4 per cent. Douglas Alreraft unfilled ordsrs June 30, 1931, totaled $2,486,355, against 2bout $4,000,000 a year ago; backlog ex- | pected to keep plant running at normal | capacity until Fall; June les . were $227,000, against $414,969; seven months to June 30 totaled $2,411,456, against $2,460,972. | Dresser (8. R.) Manufacturing ob- tains coupling contract to connect 180- | mile line being laid by Missouri Vllleyi as, « Electric Stcrage Battery subsidiary, | Willard storage battery, cuts prices. | F. & W. Grand-Silver stores June |sales off 2.2 per cent; six months cff | 10.2 per_cent; June sales adversely af- | fected by fire in large store in Pitts- burgh. Goldman-8achs Trading—Disposes of entire holdings in California companies. Roan Antelope Copper Mines—Mill treated 39,175 tons ore in June, averag- ing 3.81 per cent copper. | Sears, Roebuck Co.—Pacific Coast stores show substantial improvement. Schiff Co.—June sales up 13.7 per cent: 6 months up 4.1 per cent. ‘Walgreen Co.—June sales up 11.5 per cent; 6 months up 4.9 per Tent. Stores operated at end of June were 449, | against 428 year azo. McClellan Stores—June sales off 5.5 per cent; 6 months off 1.5 per cent, | American Department Stores—.Ju; gross, all sources, 12 months to May 31, up 1.3 per cent net, before reserves and taxes up 4.5 per cent:’ United Chemicals first quarter net | be reported at about $126.000. . Crown Wil ette per first pre- ferred share earnings, year ended April 30. $9.47, against $17. Lerner Stores June sales up 9 per | gau cent: six months up 11.3 per cen . Daniel Reeves June sales off 10.9 “er cent: six_months' off 8.1 per cent. Sears, Roebuck & Co. reduces Com- panion tire prices on an average of over | 5 per cent. Studebaker Corporation June sales, 4,716 cars, against 6,225 in May and; 5,139 in June, 1930: second-quarter sales, 18,037 cars, a gain of 9'; per cent over same 1930 period. General Motors — Total June sales, inciuding Canadian and overseas, 111,- 663 cars, against 97,440 in June and 123,730 in May, 1930; first six months, total sales 724,197 c: in Jike 1930 period; June sales to Unit- ed States consumers, 103,303 cars, egainst 122,717 in May and 97.318 in June, 1930; June sales to United States dealers, 100,270 cars, against 136.778 in May and 87,595 in June, 1930; first six months, sales to dealers 625.874 cars, against 976,572 in like 1930 period. | sales off 3.4 per cent; 5 months off 5. | per cent. Assoclated Apparel Industries stock- | holders offered rights to subserib: to additional common stock at $10 a s on share for share basis. Endicott-Johnson Corporation—Plants reported npenngf t capacity with un- | fi'led orders sul nt to keep rate at 100 per cent until November, t Federal Bake Shops—May sales off 11.4 per e-nt; 5 months off §.1 per cent. | Morrison Electrical Supply—June ales up 324 per cent; 6 months off | | er cent. | Chicogo & Alton Railroad—Offict | siient on report that R. B. White, presi- | dent of Central Railroad of New Jersey, | may head succ-ssor company. | | Kaybee Stores-—June sales un 23.6 per | § cent; 6 months up 14.1 per cent. | McMarr Stores—June sales off 1.7 per cent; 6§ months off,9.6 per cen:. Humble Oil & Refining cuts Texas| crude ofl prices ranging from 9 to 17| cents a barrel. Kress (S. H) & C per cent; six monils Naum'-ag stean cotion opera‘ions reponedktzmmrlruy reduced to four- | day week, |~ Central Public Service Corporation | earnings for year to date yeported be. low last year. Americam Commonweal'hs Power GENERAL MOTORS SALES NEW YORK, July 8 (#).--Total June saies of Generzl Motors Corporation to dealers in the United States and Can- ada, plus overseas shipments, were 111,- 668 cars, compared with 153.730 in May and 97,440 in June, 1930. 8nles to consumers in the United States totaled 103,303 cars, against 122,- 717 in May and 97,318 in June of last year. Sales (o American dealers emounted to 100,270 cars, compared with 136,778 in May and 87,505 in June a year ago. Sales for the first six months of 1931 W th comparisons for the same perio 0i 1930 were as follows: Tolal sales, 724,197, against 764,21 to consumers in the United States, 593, 564, against 657,829; to dealers in the United States, 625,674, METAL MARKET. lieve the worst is behind us, and at present price levels there can be little {doubt that the ‘bad news' s it affected {the 19 leading New York City banks has been far overdiscounted.” INVESTMENT TRUSTS NEW YOR; ;\:Iy_;;;,AO\‘er-(he- counter market: Bid. Asiad Comnosite Tr Founders Founders 7 1 Shrs pf war . s 1-40th’ com Founders ocl ar Atl & Sec Int un A A B 2. .| Bansicilla_Cor) Basic_Industr British Type Century Tr 8i Chain & Gen Ea Chain Store Invest pi... . oain Store Shr Owners 1 site il £ Deposited Bank Shrs N Y A Diversifisd Trustre Shrs A Diversified Trusiee Shrs B. Diversified Trustee Shrs C Diversifisd Trustee Shrs D. Eauitv Corp eom Eauity Corp pf .. Ty Fundamental T; General Eauity Granger Trace Glide: Winmill Incorp Investors Incorp Tnvestors | Tndependence Tt Int Secur Corp Am Int Secur Corp A 1ot Secur Int Eecur Co s, against 764,219 ' ‘ ! Mohawk Invest .. { Mutual Invest Trust A. | Mutval Manage .. | Nation Wide Secuir " | Natfonal Induct Shrs | National Shry Y Ba r Bhrs . jor & Soyth Am Corp iNor Am Trust Shares Nerthern Seeur ol Shares units " Old Colonv Invest T 0Old_Colony Trust As: Petralenm Trad A. Public S ice Tr Eepreee eenr 5 ,”cang b : ur ggrn F econ nt Secur 333 e Int Sscur Corp 6% 1st pf oFed Am. BDATOs « te'ected Income Shrs fi‘l" tat Trane Tr Bncness Trask Find Stant Am Trist Shrs . S'and Collat Trusteed Stats Mirset Jnvest . Jorp of Am upe= Corn 0f Am Corp of Am Corp of Am rust St of A o Genrury Fixen Century Fis Trust” Sh NEW YORK, July 8 (#)-—Copper |y casy; electrolytic, spot and future, 8a 8';. Iron quiet and unchanged. 4 weak; spot and nearby, zb.y: future, 87, Lead steady few York. 4.40; East St. Louls, 4.22. East St. Louis, spct and future, 3.95. Antimony, spot, 6.95a7.00. Tin | T k7 of Soviet Russian wheat In Previous Sales Greece are Increasing. i JULY 8, 1931.° FINANCIAL. STOCK AND BOND AVERAGES By the Assoeiated Press. ‘WEDNESDAY, JULY 8. STOCKS. i BY CLAUDEL A. JAGGER, Associated Press Financial Editor. NEW YORK, July 8.—The business depression, has laid a heavy hand on the lands to the south of the Rio Grande, and it is, therefore, not sur- prising that the Hoover plan to aid Eu- rope was quickly followed by suggestions i that something should be done 1o allevi- ate the burdens of the Latin American nations. With a Pranco-American accord on the intergovernmental debt negotiations reached at last, it is possible that aid to some of the Latin American countries may be the next step in international financing. But the Latin American debt problem is a problem of private finance, rather than a governmental matter, for funds owed by these countries are owed to private investors who have purchased their bonds. It appears that about all there is to be be done for Latin America is the ex- tension of banking credits, possibly with the aid of the Pederal Reserve. Condi- tions in the several countries vary widely. Argentina is well supplied with monetary gold, and is not seeking aid. To go to the other extreme, conditions in Peru are so extremely unsettled, that ‘Wall Strest bankers feel that little can be done to aid the financial situation there for the present. Chile’s Predicament. Chile, at the moment, is the South American country receiving particular attention in Wail Street international banking circles. This country has never failed to'pay interest on its foreign debt in about a century, but now finds her- self overburdened with both long and short term debts. It has $10,000,000 in Mortgage Bank of Chile bonds in this country which mature December 31. It has been rumored that a Foderal Re- serve official might visit Chile to seek means of aid. This report has been described as premature, but in the meantime, the country’s banking repre- | Sentatives here are studying the prob- lem, and are confident that satisfactory { arrangements will be made. Recently the Bank for International Settiements established a correspondent relationship with the Bank of Chile, which indicates the degree of confidence which interna- tional banking circles have in that country. Total American investments there, including direct investments as well as bonds, aggregate some $600,- 000,000. Colombia is said to be weathering the depression fairly well. The Na- tional City Bank of New York and the First National Bank of Boston have made advances to the government of about $17.000.000. Bankers do not feel that its debt is burdensome, and it is probable that a new issue of long- | term bonds may be marketed when con- ditions are more favorable. ~Total American investments are about $300,- 000. nmt’lruruly has a somewhat better than average credit rating as Latin Ameri- can credits go, but there have been rumors from time to time that it might suspend sinking fund provisions. The ICREDITS FOR LATIN AMERICA MAY FOLLOW AID TO GERMANY 'Suggestions Have Now Been Made to Pro- vide Financial Assistance for Nations South of Rio Grande. government, however, has announced | that it will meet charges promptly. It is felt in Wall Street that there is |a good if somewhat remote prospect | that international bankers may make extensions to that country. American investments in Uruguay at present are | only about $100,000,000. Brazil Is Enigma. The great land of Brazfl at the mo- ment is something of an enigma to | Wall Street. The country has lost | practically all of its mometary gold. | The new government, headed by Dr. Getulia Vargas, is, nevertheless, making | strenuous efforts to protect the coun- | try's credit standing. American in- vestments in Brazil approximate the $600,000,000 in Chile, and are exceeded |in South America only by our invest- | ments in Argentina, amounting to more | than $800,000,000. " British investments {in Brazil, however, are much larger |than our own, and London has taken the lead in efforts to deal with the per- | plexing prcblems there. Sir Otto Nie- | meyer of the Bank of England has visited Brazil to study the situation, but has thus far withheld publication of his report. | The only South American bonds de- fauited this year have been four issues { Bolivia, two of Peru and one of the State Ceara, Brazil. None of these | countries has repudiated its foreign | debt. Wall Street, however, does not |look for resumption of payments by | Bolivia or Peru in the immediate fu- | ture, #nd for the present, bankers are | not hopeful over the outlobk for for- eign aid for them, although it is said in well informed quarters that some- | thing may be done eventually. So far as the Central American coun- | tries are concerned, the Mexican obli- gations have been in default for s long time. The plan evolved several months |ago for resumption of payments was interrupted by the slump in silver. | Payments will be resumed when Mexi- can exchange improves. : | The United States' largest stake in Latin America is in Cuba, where Amer- ican investments exceed $1,200,000.000. This country has been sorely pressed by the slump in sugar, and if the Chad- bourne plan puts sugar on its feet once more, it will find itself in relatively good shape. Total Investments. ‘Total American investments in Latin America are between $5,000,000,000 and | $6,000,000,000, or about’ haif our stake |in_Europe, exclusive of war debts. | The Hoover war debt plan, while deal- | ing primarily with Europe, may go far | toward aiding Latin America, if its first stimulus to commodity prices marks a | sustained upturn. These countries have |been hard hit by the drastic decline in commodity prices. With prices of many |of their chief exports cut in half, it means that they must export twic: as much to meet the same debts. | It is significant that most of them are | dependent on one or two commodities. | Seventy per cent of Brazil's exports is| | coffee, and nearly 80 per cent of Bo- Business Notes | By the Associated Press. : NEW YORK, July 8.—Registration of buyers in the New York wholesals mer- chandise market curing the past week showed a drop in comparison with lhe‘ revious week and the like wiek Of 1p930. according to lists _published in the New York Times. For the week ended yesterday 531 buy:rs were listed, ageinst 641 for the previous week and 556 for the corresponding week of 1930. | Arrivals__yesterday numbered 270, ag:inst 230 last Tuesday. continued fo e(‘iiolmhfi‘le N":: en’s wear orders placed in tre New g‘ork wholesal> markets during the first two days this week, resident offices re- ‘port. This week is expected to witness the final drive of stores to compl-te their stocks for Summer sales events, although reorders on a small scale for fill-in pur- | poses will develop from time to time. Buyers s-eking school bags and simi- lar equipment for mid-August delivery were active in the New York wholesale market yesterday. Orders placzd, selling agents sald, called for large: quantities than they did last year, although de- {mand centered on $1 instead of $1.50 retail itms. With approximately 20 per cent of the seasol volume already purchased. the sales agents estimated 4 that tha stores will complete their pur- { chasing before the close of this month. A decidedly firm ne in the blanket, market has develop:d within the last weck, comment in the primary trade sald. The cotton, part-wool and wool styles have benefitted from the larger volume of business and the price situa- , i tion is reported to be stronger than at | any time since the opening of lines. PUBLIC WORKS GONTRACTS. By the Associated Press. Contracts totaling $38,575,078 for public and semi-public works projects wire last week to the public works section of the President’s Emer- Fred C. Croxton, acting chairman of the committee, said the new contracts brought the total award:d since De- cember 1, 1930, to $1,848,166,868. ‘The latest covered 241 projects 4 |in’ 35 State and the District of Colum- CHECK TOTAL GAINS. By the Associated Press. Checks cashed on individual bank | £U% accounts in 265 cities of the Federal Reserve Board increased 3. during the week ended July 1, as com- with the previous period, Total debits for comparable weeks, L.. $9.374,331,000 1817954211000 — | Summer merchandist for immediate 33 | delivery 3 per cent|New Y livia's, tin. CHICAGO LIVE STOCK MARKET | CHICAGO, July 8 (#).—(United States Department of Agriculture)— Hogs, 13,000, including 2,000 direct; | mostly 10 higher; pigs and light lights, | | 10-25 up: packing sows, 10-20 higher; | bulk, 170-220 pounds, 7.35a7.50; top. 7.55; 230-350 pounds, 5.75a’ ; pigs, 6.15a6.75; light llghu to 7.25; packing sows, light weight, 160-200 ds, 7.10a%55; medium weight, 200-250 unds, 7.007.55; heavy weight, 230~ | 350 pounds, 5.75a7.2 packing sows, | medium and good, 275-500 pounds, | 4.50a5.60; slaughter pigs good and | choice, 100-130 pounds, 6.1588.75. Cattle, 7.000 head: calves, 2,000: yearling and light steers, sirong to 25 higher; all grades she stock sharing advance: weighty steers slow, mostly steady; extreme tcp 900-pound yearling steers, . best heavy steers, early, 18.00: bulk all fed steers and yearlings, 1 7.00a8.00; yearling heifers up to 8.10. | Slaughter cattle and vealers, steers good |and choice, 600-900 pounds, 7.50a8.75. 900-1,100 pounds, 7.25a8.75; 1,100-1,300 pounds, 6.75a8.50; 1,300-1,500 pounds, 6.7588.25; common and medium, 600- 1,300 pounds, 5.00a7.00; heifers, good and choice, 550-850 pounds, 6.75a8.25; | commen and medium. 3.50a6.75; cows. | good and choice, 4.0025.50; common and medium, 3.2504.00; low cutter and cutter, 2.00a3.25; bulls (yearlings ex- cluded), good and choice (beef), 4.25 4.75; cutter to medium, 3.75a4.75: vealers (milk-fed), good and ehoice. 7.50a8.50; medium, 5.50a7.50: cull and common, 3.00a5.50 Stocker and feeder cattle, steers, good and choice,. 500- 1,050 pounds, 5.50a7.00; common and medium, 4.005.50. | Sheep—14,000 head: lambs, strong to 25 higher; sheep, 50 higher in instsnces; good to choice native lambs, 7.25a7.65 to packers: choice rangers, 7.85; best held around 8.00; outstanding range ewes, 3.50 to packers. Lambs, 90 pounds dcwn, good to choice, 7.2528.00; medium, 5.50a7.25; all weights, com- mon, 4.00a5.00; ewes, 90-150 pounds, | medium to choice, 1.50a3.25; all weights, {cull and common, 1.00a1.75; feeding l‘l;l;b!. 30-'!5 pounds, good and choice, | NEW YORK BANK STOCKS ) NEW YORK, July 8 (#).—Over-the- market: i Markets at a Glance NEW YORK, July 8 (#).—Stocks weak; pivotal shares continue decline. Bonds irregular; rails sag, vy; olls soft. Foreign exchanges irregular; sterling sags; French franc strong. Cot< ton weak: bearish acreage report. Sugar, barely steady; steady apot market. fee easier; European selling. CHICAGO, July 8 (#)—Wheat lower; favorable weekly weather report. Corn easier; sympathy with wheat. Cattlg strong. Hogs higher. i g PARIS BOURSE PRICES, PARIS, July 8 (#).—Prices were hea on the today. e per uz Tentes, 88 francs 15 centimes. Five per cent loan, 103 francs 85 centimes. : e:a;lh:nu T:" du:;c'lron. 124 franes 10 s. The dollar was francs 51 centimes. Rt BONDS ON THE CURB ;. e 6s A 57 ahds, 8 Comwh Ed 4i3s E ' 27 Comwih Edis 4s F '8 on G Ut 6'2s A '43 10 Con Gas Util 6s A 2 Cons 8448 '36 42Cont G & E 55 A udahy Packg 55 10 Cudahy Pkg 5i2s 1 Det ww 3 Duke Power 4135 '67. 1 22 East Ut Inv 5s 54 ww 64 4 Edis El Boston 4s '32 102% 83Elec P & L 5s A 2030 86" 16 Empire 7 4 Federal 1 Firesto 116 Florid: G & [ 2 Gen 4 21 Georgia Power 55 '67 10213 40 Gilette 8 Raz 55 '40. 951% 2 Glidden Co 58 '35 . 15 Grand Trunk 625 ' 5’ § Intern Sec Am 35 4 17 Intersta 1Iowa-Neb L&P 5 3lowa-Nb L&P B 2Towa Pow & L 4128 € Jer Cen P&L 55 B '4 1Karsas Pow 55 A '47 1Ken Utilit 1st Ss 3 Kimberly Cla 85 A s 4Long Island Lt 8 LaP &L Ss'57... Mass Gas 5 Metro Edison 4s 8t Pe 2 2 dand &L 4 § Nor Ind PS 4 ow B Pow 4135 Py 6.« ‘33 e s o e aas o S e 5 5 S B Bea T S o B nen @0 17 2 b Nat G 65 43 50 "thw P&L 63 A 2022 104, and Gas & E 65 '35 10113 GA&E cv 65 & E 6 51 2% DA ODBED 52385 F e <9 gadaaggac DT POPRUOTe 4 Wes Tex Tt Bs A 4 Wiscon P&L 8s F FOREIGN BONDS. 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