Evening Star Newspaper, July 24, 1931, Page 15

CURB ISSUES DRIFT T0 LOWER LEVELS Utilities and Oils Feature Downward Trend—Spe- cialties Off. 1931~ 8ton and, Dividend Ra Affiilated Prod ~Pref His 224 19% 9 54 224 109% 60 60 1% 2% 80% 0e)o.. 1 Aluminum Co of Am 6508 Alu Coof Am pf (6). Aluminum,Ltd Cwar. Aluminum,Ltd Dwar Am Austin Car.. Am British & Cont Am Cigar Copf..... Am City P&L(A) a3. Am Cit P&L. Bb10%. Am Comt P A (b10%) » & BY JOHN A. CR/ Bpecial Dispatch to The Star. H NEW YORK, July 24.—Dealings on the Curb Exchange today moved at a | slightly quickened pace around midday, after o slow opening, but prices con- tinued their drift toward lower levels. Electric Bond & Share was down a emall fraction, and so was Citles Serv- jce. American Gas & Electric lost more | than 2 points. Assoclated Gas & Elec- | eyl i 1444 A slipped a point on a small turn- ' Anglo Chil Nitrate. . :::r 5 . | Appalachian Gi o Arkans Nat Gas A The feature of the second hour's % Armstrong Cork (1). trading was the weakness of Standard | Art Metal Wks (60c) Ofl of Indiana, whose directors are ! Assoc El In Ltd 30c. scheduled to meet for dividend action | on August 3. Chicago advices were that | market circles there could offer no ex- | planation for the weakness of the stock, | yet considerable selling emanated from | that center. The company has had serious price competition in most of its | territory this year and has consistently met such reductions by new cuts. Public Service of Northern Illinoisi- one of the less active higher-priced | utilities, opened down 13%; points, but later regained about half of its initial decline. Insull Utility second preferred | Jost 5 points, and Swiss American Electric preferred was off 4 points by midday. ec (1) Am Lt & Trac (3%). Am Maracaibo ... .. Am Superpocw (40c). Am Buperp 1st (6).. am Atlas Util Corp. .. ... Atlas Utilities war., Beneficial IL (1%).. Bigelow-Sanford. Siue Ridge Corp. . .. Blue Ridge cv pfas. Blyn Shoes, Inc. Brazil Trac Lt&P(1) Buff N&EP pf (1 60) Burco Inc ev pf (3).. Canada Marconi. Carib Syndicate..... Cent Pub SveA b10% The weakness of Standard Oil of | i Cent Stat El (510%). Indiana spread to other sections of the ! Cent St El pf xw (6). petroleum division. Vacuum Ol quickly | Cent West PR Anllg knocked off a point. Eureka Pipe Line Centritug Pipe (60c) sheared off 4'; points There was Chain Stores Stock. . pressure on some of the pipe manu- Chat Ph Aln.v. (1).. facturers, such as A. O. Smith, which Citles Service (£30¢) broke 6 points to & new low level for 4« Citles Serv pf (6)... the year. Humble Ol opene¢ a point Cit Sv pt B (60¢) . lower. | Claude Neon Lts, Tno Goldman Sachs Trading Corporation ¥Eh. ... was a feature of the miscellaneous Cmwlth Edison ( trusts on its fractional gain, which fol- Cmwlth & Sou war. Jowed publication of its assets value &s Com Wat Ser g1234e of June 30. This was $12.94 a share Comstock Tunnel. against $12.40 a share on December 31 Consol Royal (20¢) .. last and $30.16 a share June 30, 1930. Cont Shares conv pf. 2258 Agfa Ansco, which is German in name Cont Shares pf (B)..250s only, as the present company is domi- Cord Corp [ nated by American interests, sold today Corroon & Reynolds. for the first time in nearly two weeks. Creole Petroleum. .. It opened off 2% points. European Elec- Crocker Wheeler. ... tric and North European Oil were soft. | Crown Cork Intl (A) Brazilian Traction, Utilities Power & Cumberland P L (2). B0 Light common, Roan Antelope and Curtiss M1g Co (A Swift International were inclined to Curtive Wrign' .. heaviness from the statt, though Ford Cusi§ier Sining. . - Motor Ltd. opened higher. Woolworth Dayton Alr & Eng... Ltd. common, one of the most active Deere & Co ( of foreign shares, again was in suppiy. | De Forest Radlo. ... Great Atlantic & Pagific Tea, with Detroft Afreraft Cp.. a drop of 3 points, was the widest ! mover in the chain’ store group and Pepperell Manufacturing, with a loss of 1% points, occupied a similar posi- | tion in the textiles. Seiberling Rubber eased a point despite the fact that June profits were larger than those of May and July net was said to be running | ahcad of any month this year. 103 » T T O 11 L T TUITT 11 To ot POl PRSP T 1 5 5 1 . 3 2 8 Dugquesne Gas Corp. Durant Motors. . Duval Tex Sul wi. East States Pwr (B) sler Electrie Corp. Elec Bond&Sh (b6% ) 366 Elec B& Shcunfb.. Elec P & Lt op war.. K1 Shareholdg (b6 %) Emp Corporation. .. Emp G & E cu of (1) Emp G & F cu pg (8) Empire Pub Sve (A). Eureka Pipe L (4) Europ Elec deb rts.. Fairehild Aviation.. Fajardo Sugar. . Ford M Can A (1.20) Ford Mot Ltd 36 3-60 Foundation For Shs. Gen Aviation....... Gen Empire Cor (1), Gen Theat Eq cv pf.. Glen Alden Coal (4). Golden Center. Goldman Sach Gt At&Pac Tea nv(§) Gulf Ofl of Pa (134). Happiness Candy... Hudson Bav M &S .. Humble O1) (1234). . Hygrade Food Prod. 11l Pow & Lt pf (6).. imp Oil of Can (50¢c) Ind Ter 11lu Of1 A.. Insuil [nv (b6%). Insull Util 2d pf (6) . Intercontinent Fet n (nt Petroleum (1). . Int Saf B (12%) int Utilities B Interstate Equities. interst Pow pf (7) Klein (D E) Co (1).. Markets at a Glance 508 501 1 4508 2 NEW YORK. July 24 (/P).—Stocks— U. 8. Steel sags on dividend T re. Bonds—Weak: rails and for- € waak, Curb—Heavy: Standard Oil of Indizna weak. Foreign exchanges— | Sicedy: sterling strong. Cotton—Lower: faverable cron advices. Sugar—Steady; firm spot market. Coffee—Higher; steady; Brezilian markets. CHICAGO, July 24 (P).—Wheat— E>sy: weak cables and favorable weather. Corn—Easy: better weather and large Argentine exports. Cattle— Irregular. Hogs—Steady to higher. BANK OF UNITED STATES PAYMENT WILL BE MADE Bpecial Dispatch to The Star | NEW YORK. July 24.—The first| payment to depositors of the closed Bank of United States will be made by the State Banking Department. custodian of the institution since its failure last December, some time be- fore September 15, it was learned today. The payment will be 30 or 35| per cent of the deposits, it is said. 681 125 Note—All stocks are sold In one hundred-share excepting those designated by the letter s (80s) (250s). Bales— Add 00. ous“ Hign, Low. cllon ~Prev, 1931~ 19 18% % Stock ana w. Dividend Rate. 1% Mavis Bottling (A).. May Rad & Telev(1), McCord Radiator B. . Mead Johnson(t43%) Memph N G Co (60c) Mid Sts Pet vte A 32¢ Mid WSBtUt (1), .. Mid West Util (8%). Mo-Kan Pipe L (A). Mo-Kan Pipe L (B). Montgom War A (7).100s New Eng Pow pf (6) 10 New Mex & Ar Land. Newmont Mining. N Y Hamburg (2 Ohio Pow pf (6)..... 2 Ohio Pub Sv pf A (7) 20s Outboard Mot A... 1 PacG& B 1stpf 1% Pennroad Corp (406) Peoples Lt&Pwr (A) Perryman Electric Petrol Corp war. Phila Elee pr pf ( Philip Morris Inc Phoenix Secur Corp. Phoenix S C pf (3)... ot Rad Tube A Plymouth Ofl (1).... Foterero Sugar. . Premier Gold (12¢) Prod Roy Cp (b10%) Prudence Co pf (7).. 25s Received by Private Wire Direct to The Star Office . Bales— Add 00. Open. High. 24, 24 17% 7 80 8% 3 11% 1 12 OIL SHUTDOWN PLAN GAINING IN FAVOR Mid-Continent Producers to Hold Mass Meeting in Interest of Trade, By the Associated Press. TULSA, Okla, July 24.—A mass meet- ing of mid-continent oil producers has % |been called for next Monday night in Tulse to consider plans for spreading the shut-down movement that has re- sulted from low crude pi 3 The call was issued by Winston P. ry of Tuls airman of the Okla. homa “Stripper” Relief Committee, with the support of the Independent Petroleum Association of America, Mid- continent Royalty Owners' Association, the Oklahoma tripper” Rellef Com: mittee and the Southern Operators’ 5 . 4 6 1 8 1 . 1 Niag-Hud Pow (40¢c) Niag-Hud Pow A w.. Niag Sh Md_(40¢c)... Nor Am Aviat A war NoAmL &P (b8%)., 50s Nor Europ 0il Corp. 8 08 5 .600s 12 2 2 4 Prudential Invest... 10 PS, N 111(8) $100 par 300s Pub Util Hold war.. 14 Pub Utll Hold Cpxw & Puget Sa P&L of (6) 10s Republie Gas Corp. Reybarn Co. Reynolds Invest Roan Antelope Min Rock Lt & P (90c)... Safety Car H&Lt (4) 508 St Anthony Gold. ... St Regis Paper (60c) Salt Creek Pro(1.40). Seaboard Util (28¢) Segal L & H (ab0c) Seiberling Rubber lected Industri Ind prior (5%). Ind al etfs ( Shenandoah Corp Shen Corp pt (a3) Sherwin Wil (+43%4). Smith (A 0) (2). South Penn Ofl (1).. South Col Pwr A (2 South Corp. g Southld Royalty S W Gas Ut SWG&EDL(T) 6 40 ). Assoclation. ‘We must get the oil producers to agree not to open their wells for a 10 or a 15 cent advance in prices, Henry said. “Crude prices ere serious ly low. We must have $1 a barrel it we_are to continue in business.” Earl Sneed, Tulsa ofl man, declared East Taxes operators must join the shut-down movement if it is to be suc- cessfull, else the major purchasers will eliminate Oklahoma and Kansas fields from their purchase plans and obtain their supplies in tbat flush field at 10 to 20 cents a barrel. Gov. W. H. Murray advised news- paper men at Oklahoma City he was still considering issuing an executive & | order to close down all Oklahoma ofl flelds. The Barnsdall Refining Co. has joined other companies in increasing to 40 {in Kansas. The company retiins the old higher schedule of 25 to 37 cents {a barrel in Oklahoma, {with the range of 10 to 22 cents paid by some purchasers, Salesin & DOMESTIC BONDS. thousands. High. 18 Alabama Pw_4l4s 3 Alabama Pow 55 '56. 1 2¢ Aluminum Co 88 ' § Aluminum Ltd 3Am Cmwih Pw 65 1 Amer EI Pow 83 A '57 62ta & B 55 2028 100% & Pow 68 '3 P & L 6s 2016, 104% 18 Appalach_Gas 6s " 2% 14 Abpalac Gas 65 B 45 407 Spieg May Stern pf Stand Oll of Ind (2). Stand Ol of Ky 1.60 tand Siiver Lead . tarrett Corp pf (3). Sunray Ofl (b6%). Swift & Co (2)... Swift Internat (3).. Swiss-Am El pf (6).. Technicolor. Inc. Teck Hughes (60¢) Texon Oil&Land (1). Thatcher Sec Corp. Todd Shipyard (4). Tran Con Air Tral Trans Lux DL P Tri-Cont Corp war. Tri-Utllities. Ungerieider Fin Cp Un Nat Gas Can (1). Unit Carr Fast (10¢) Unit Founde: Unit Gas Corp. Unit Gus pf (7) Unit Lt &Pwr A (1). Unit Lt& Pwr pf (6 U S Elec Power ww U S Foil (B) (50¢)... U S & Inl Secur. U S Lines pf..... 2 US&Overseas war. 4 Unit Stores it Verde Eyten (1) Util PRLt(a1102%). Utility Equities Vacuum Ofl (2)..... Venezuela Petrolm. . Vie Finan Cor Voght Mfg Co (1) Walker (H) (50¢). Wenden Copper. . 60c). W & s 1l Pow & Lt 55 cents a barrel the price for crude ofl4| as compared | FINANCIAL. Everybody’s Business » The iondon Conference, While Nét Considered an Outstanding Success in Some Quarters, Has Laid the Foundation for Aid to Germany. BY DR. MAX WINKLER. Bpecial Dispatch to The Btar. NEW "YORK, July 24—The opinion regarding the seven-power conference at London is that it has not been an outstanding success. The London Times, for one, holds this view. It should, however, be remembered that conferences held for the purpose of settling grave international problems cannot be expected to achieve suceess overnight. Moreover, a final decision reached immediately would be viewed most likely with suspicion. On the other hand, an agreement which is reached after much arguing, de- bating, disagreeing and even a temporary break-up, is bound to inspire a great deal of confidence. Such was the situation at the time of the Dawes plan and the Young plan, and history is likely to repeat itself at the pres- ent time, when methods are being discussed to render financial aid to Germany. The conference has, at least, laid the foundation for such assistance. Firmness in General Motors. Firmness in the securities of General Motors is attributable to the relatively sat- u‘laé:hwry elrntinu for the mor&d quhnn.;r o e current year, as compared with the - DR. MAX WINKLER. ¢ame period in 1930. Exclusive of non-op- erating, non-recurring profits, the net profit for the June quarter of 1930 was $1.34 a share, only 12 cents above the June, 1931, quarter— the shrinkage for this last quarter being less than 9 per cent. 15 per cent, as compared with 1930, and amounted to 61 per cent of the total regular dividend for the whole year. According to Alfred P. Sloan, jr., president of the corporation were only 2.5 per cent less than a year ago. Northern Pacific. Little change is looked for in the af- ning to cause annoyance in British financial circles. Within less than two weeks the loss amounted to $117,500,000. fairs of the Northern Pacific Railway at least_as regards the immediate future. According to Charles Donnelly, presi- dent of the road, about the ssme amount of freight is expected to be handled as or nearly 16 per cent of the present holdings of about $750,000,000. However, gold is still above the figure of last January, when the drain of the yellow metal assumed a more serious was handled a year ago. In this con- nection, Mr. Donnelly placed the road's | 3SPect than today. 1In order to arrest ! ithdrawals the rediscount rate gross receipts for the past month at | urther wi about 17 per cent less than in the same | W25 ’“C, sed yesterday from 32}, per month last year and n-t operating in- | Pt t0 3'2 per cent. come at about 61 pet cent of the June, | Bank Rates. 1930, figure. ’ The leverllsh haste with which bank Steel Company Earnings. rates were lowered a little over a year —_— = ago, when the so-called Young bonds Despite an_increase of 2 per cent were about to be sold to the public, is | credit’d to the United States Steel|in evidence today i the other direc- Corporation, a further downturn is re- tion. Rates are being raised “every- ported in steel operations. Earnings of | where. Austria has increased her bank | leading steel companies are likely to| rate to 10 per cent, while Germany is I i show little improvement in the third | considering raising it from 10 per cent quarter. Iron’ Age experts say present o 15 or 20. per cent. operating schedules will prevail during Analysis, however, shows that a August reversing earlier predictions of higher rate affords only temporary Te- an_August increase. |lief. Lasting improvement requires | .. The dividend meetings of the United | more concretz treatment. Some will States Steel Corporation and the Beth- | recall that at the height of the German | V'hem Steel Co., scheduled for next | inflation about eight years ago an in- week, are looked for with especial in- | crease in the bank rate to 90 per cent terest. A lowering in the present rate was unable to arrest the flight of the should not constitute a verv great sur- mark and the complete collapse of the prise, even though some hold that pres- | currency. ent rates might possibly be maintained.| To be sure. conditions are not_the Canadian Collophiase Plant; | same, and steps are being taken besides Gllophane; Whlkhiup tomow hasieen | SO0 Tateito @ dlust thefatuatia imported into Canada in large quanti- Uruguay's Foreign Debt. ties, is going to be manufactured at| wWith Uruguay's exchange down to Thre> Rivers, Quebec, by Canadian In- | exactly half of its parity, the question <ustries, Ltd., affiliated with the du Pont | of meeting the service on the country’s interests. Arthur P. Purvis, president | foreign debt has become a very serious | and general manager of the company, | one. A special session is being_called estimates the cost of the plant at $1.- | by the National Administrative Council 500.000 and <xpects that manufacturing | to discuss with the minister of finance will be in full swing early next year. About 90 men are expected to be em- ployed at the start. | { Britain’s Gold Stocks. ’ Although Great Britain's stock of gold | |is still more than adequate for her needs, the constant stream from the Bank of England acrosp the channel is begin- ' measures which should be taken. Tt is not unlikely that the republic will de~ cide to suspend sinking fund payments on her debts, as she did during the pe- riod of the war. Continuance of in- terest payments, however, is confidently expected. (Copsright, 1931, by North American News- paper Alliance. Inc.) s " | Special Dispatch to The Star. | | NEW YORK. July 24—Though rain- fall in the cotton belt in the past 24 | hours increased again prices on the Cotton Exchange were influenced more | by weakness in the stock market than by continued conditions favorable for | weevil in the South. The market was | under pressure throughout and broke | 30 points to low levels of the week, ending around the bottom. Spots were reduced 30 points to 9 cents. ‘v Cotton range: Open . 908 Close, High 2.04 i 908 228 Low. o3 R 80 Grain Market By the Associated Press. CHICAGO, July 24 —Suffering from a striking_curtailment of speculative dem2nd, wheat went steadily downward today. Pit transactions amounted to less than half the volume of a week ago. Export business was also slack. with Argentina and Australia czpturing th- bulk and North America doing little. Wheat closed unsettled, 13-1 cent er, corn unchanged.to 114 off; oats « decline, and provisions Close. 0 #¥% A—15 BULGE IN BUSINESS FORECAST IN FALL Gradual Recovery in' Home Situation Predicted by Many Economists. Special Dispatch to Th NEW YORK, July 24.—Evidence that the return of general business pros- perity in the United States is more in- timately related to the progress of af- fairs in Europe is becoming increasing], apparent, in the opinion of Gage Py Wright, president of the Business Eco- nomic D&ut. “Day- of stock prices have become, in the last few weeks, & weather vane of European conditions to such an extent that mar- ket analysts look to thanges in the po- litical situation abroad for forecasts of rice movements on the New York tock Exchange,” says Mr, Wright. “The fact that the United States, abandoning the traditional policy of isolation, is participating actively in the world conferences for the betterme: f general conditions s undoubtedly a major factor in the doméstic market's sensitive _reaction to devel ts abroad. In general, however, it is not felt that the recovery here will be re- tarded by this new significance of Eu- Topean influence, for the reason it participation by the United States greatly strengthens the prospect of a sucessful outcome in these international For the first half of the year, the net decline per share was about l conferences. “Nevertheless, the action of the se- curities markets has emphasized the important effect which European con- ; j ditions have upon conditions here, and General Motors szles for the second quarter this year to consumers ' has served to turn the eyes of American business abroad in search of evidence ‘hich may imply a turn for the better domestic business. “The domestic situation is not so highly involved. It is the belisf of :n-&ydl:‘mm‘es' c;n the recent trends n industry poin a bulge in activi this Fall. A rapid upturn is not ,2 pected. The opinion still prevails that recovery will be gradual. —_— U. S. SHIPBUILDING SECOND IN WORLD Greet Britain Is First, With France Third—Construetion Shrinks. BY BRADLEY W. TRENT. Special Dispatch to Th NEW YORK, July 24—The United States has taken second place in world shipbuilding, and is now runner-up to the United Kingdom, having displaced France as the second largest shipbuild- ing country. This all happened in the second quarter of the current calendar year. The United States gained 70,000 gross tons under construction. This was in sharp contrast with a decline in the volume of merchant ships under con- struction in the other principal ship- building countries. Information obtained from the trans- portation division of the Department of Commerce shows that total gross under construction during the second quarter in all countries (except Russia for which figures are not avail- able) amounted to 1,826,000 tons,incom- parison with approximately 2,000,000 tons in the first quarter and 3,058,000 in the corresponding period of last year. Ships under construction in the United States during the second gyarter totaled 301,489 gross tons, an advance of 70,000 gross tons over the first quarter and 63,000 tons over the total for the corresponding quarter of 1930, bringing this country’s figure to a higher point than at any time since the war building tonna m. As a result of the shrinkage in ship construction in the United Kingdom the United States is building only about 250,000 gross tons less than those countries. In the preceding quarter the gap was more than 460,000 tons and a year ago it exceeded 1,150,000 tons. Just before the war the United King- dom led the United States by about 1,575.000 tons. Less than a third of the world's merchant tonnage is now being built there, whereas hardly longer than a year ago they were building more tonnage than all the other maritime nations combined. | Of large ships of 20,000 gross tons or over there are being built 18. compared o ! with 14 at the end of March. United | States shipbuilders lead with seven of | those vessels under way. Five are being % Kolster-Bi (Am Sh). I.eonard Of! Libby McNeti & L. and other pavments will be made a: often as liquidation of the bank's as sets permit. Several years may be Wil-low Cafe pf (4). Wlworth (FW) Ltd. 231 v 2 H : L 11 107 i an 8 ! k] % L 104 7 7 5 s 9 9 10 ) 5 Natio; 34 Neb Ne May St 104 *Expired ‘at noon. Lone Star Gas n 88¢c. Los Ang G&E pf (6). MacMarr Stores (1). Mangel Stores pf. 13 144 1057 anu 19 required to compleie the liquid It is said that more than one of the bank's 450,000 deposito! borrowed money on_their deposits, un- | der the plan-of the Clearing House Assoclation, and the shares in the first 1 1 1 110 1% 30 41 16% 38 100 16% 1613 110% 110 10% 10% 19" 19 38 0 0% 9 payment of these depositors will be devoted to covering their borrowings. The ultimate returns to depositors will depend upon the resources realized | by liguidation. It has been denied. | however, that the 30 or 35 per cent qucted as the first pavment will | constitute all the return to the de- CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS CHICAGO STOCK MARKET By the Associated Press. CHICAGO. July 24.—Following is the complete official list of transactions in stocks on the Chicago Stock Exchange today: NFW YORK, July 24--The follow- ing is a summary of important cor- posation news prepared by the Stand- ard Statistics Co., Inc., New York, for the Associated Press: News Trend. Brokors' loans for the week ended July 22 declived $14.000.000 below the previous week, making the third suc- ces-ive requotion. This decrease brought ‘he total to within $10,000,000 of the low reported week ended June 24, loans were $1,406,000,000. Attention i ¢ on 1o cf the ' . Whil the common ¢ the consenst. that the divi the present * eect since th Bales STOCKS. 150 Abbot” Lah £100 Ainsvorth Mfg /200 Am~ Radin 200 Am Yvette 0 Ba rcught (o the div- e taken cn July 28 by Unied Sta'es Steel no one expects that a-nd will be omitted, of opinion seems to be rd will be reduced from rate, which has been in cond quarter of 1926 The Companies. American Commercial Alcohol vances price of denatured alcohol 1 cent a gallon to 25 cents in tank-car lot=. Lokes Arcraft dee.. .. . six months ended June 30, $1.49, against § ssociated Apparel Industries, Inc.— Optfon to purchase 15,000 shares et $5 and 10,000 commen at $8 gren ed, rospectively. to V. G. Dunrington and T. R. Gowenlock: to offer 230,533 common shares to stock- Lolcers at $10 a share, on basis of one !share for each share held. Bayuk Cigars, Inc, June quarter common share earnings, 71 cents, against $1.01; six months, 62 cents, against $1.79. Butterick common share six months ended Juxe 30, $2.23, $2.04. Brown Shoe submits lowest bid to Army for 53,676 palrs of service shoss .and 163,028 pairs of garrison shoes. Byers (A. M. Co. preferred share earnings, nine months ended June 30, $1.88, against $14.92. ) Dupont (E. 1) de Nemours common share earnings, six months ended June 30, $2.23, against $2.84. General Outdoor Advertising d>ficit, six months ended June 30, $387.811, against net income $2,684, equal to 9 cents a preferred share. Int:rnational Combustion Engineer- ing deficit, December 19, 1929, to De- cember 31, 1930, $622,285, against deficit January 1, 1929, to December 19, 1929, $767,442, International Harvester dealers agree 0 Insull U pf 2nd Ser . 100 Lawbec: 6 307 Libby-McNetll v 330 Mo-Kans Pipe 1o Mountaln 8tu Pw’pi or earnings 300 Wis Bankshrs 100 Zenith Radio Btock sales todi o mm 56.000 shares - BONDS. 18000 Insull Util 6s 1940 . ry El & G 5 7. 8 8000 Gary G 55 19 ic Ry ctfs Bs 192 63! TRPEE S il ad- | Anchor Cap common share earnings | against,| “Y" Oil & Gas. . rates in doli “Ex dividend ] Lto accept wheat ss half payment for | machinery sold after July 17. Decem- | ber deliveries will be accepted at 5 | cents a bushel. Lehigh Coal & Navigation makes offer for Delaware Division Canal Co. minor- | |ity stock of $45 a share cash or two | thares of company’s stock for one share De‘aware Division. Loose-Wiles Biscuit common _share earnings 88 cents, against 77 cents; six months, $1.70, against $1.75. Mapes Consolidated Manufacturing common share earnings, six months ended June 30, $4.78, against $4.86. Minneapolis & St. Louis Railroad June net operating revenue off 19.5 per cent. | Northern Pacific Railway June net operating income off 38.6 per cent; six months, off 62.3 per cent. | “Montgomery Ward June quarter net | Income. $407.706, equel to 1 cent a | common “share, against deficit $185.- 473 months, deficit, $1,375,96 agai June quarter | sh Register June quarter | class A snare earnings, 73 cents, | 65 cents; six months, 41 cents, $1.42. Nowton * Steel deficit six months ended June 30. $198,087, asainst net | Income, $328,565, equal to 95 cents a | commen share. s | "New York, Ontario & Western Rail- way June net opersting income, $189 404, against $66.760; six months, $719.- | 972. 2gainst $88,088. Penick & Ford common share earn- ings six months ended June 30, 1.49, against $2.18. Pere Marqguette six mocnths $751.994, against net income $1,075422; | equ°1 to $1.08 & common share. | defieit, $423,429 Public Servics | Jersey net _income :géxre 30, $31,267.816, | 724. | Sharon Steel Hoop deficit six months | ended June 30, $681.016, against net income, $30,129, equal to 8 cents a ccmmon shore. Standard Cap & Seal common share earnings six months ended June 30, $1.63, against $1.79. Texas Corporation posts prices of 35 Corporation of New 12 months ended against $30.001,- i cents and 40 cents for crude in several sections; former range, 10 to 22 cents. earnings six months ended June 30, 31 cents, against 19 cents. United States Industrial Alcohol ad- ! vances price of denatured alcohol 1 cent a gallon to 25 cents a galion in tank car lots. ‘Willys-Overland preferred share earn- | Ings six months ‘ended June 30 $2.41, | against $1.08. | “Yellow Truck & Coach Manufactur- ing June quarter net income $28,110, | against $1,332,019; six months' deficit ::;m,w. against net income $1437,- ‘Younumwn Sheet & Tubs—Holders aj Peny's stocks United-Carr_Fastener common share | defieit, | | Pittsburgh Terminal Coal deficit six | | months ended June 30, $322,037. »gainst | | electric rate schedules in Kansas. ly 330,000 shares of com- | earnis Who lost their voting and | of o ! last year, a decrease of $89 15 1% quarteriy or semi-an- TPlus 4% 10 st b Payable in stock. e Adjustme: ¢ Plus 6% In stock. 5 nPlus 1% in | k Plus 10% 1n stock D Paid no m Pius 3% in ular T dividend rights in fight over proposed merger with Bethlehem Steel, regaincd these rights, effective July 23, threugh amendment to Ohio corporation law, it may be asked to determine dis- n of ac umulated dividends of 500 withheld from dissenters. Caterpillar Traction common share earnings six months ended June 30 77 cents, against $2.99. Chrysler Corporation declares regular 25 cents quarterly common dividend: common share earnings six months ended June 30 51 cenis, against 77 cents. General Printing Ink common share earnings six months ended June 30 $1.25, against $1.51. Lion Oil Refining increases posted price of smackover heavy crude 10 cents a barrel to 25 cents. Missouri Pacific R. R. to adjust weges| of officers and clerical forces. | Purity Bakeriss common share earn- 8 weeks ended July 11 $1.48, $3 for like period ended July 1930. Arundel Corporation—First half com- mon share earnings, $2.29 against $2.43. | Schiff Co.—First half common share earnings, $1.89 egainst $1.17. United Statcs Industrial Aleohol— Deficit six months ended June 30, $527,~, 287 egainst net income, $552,485, equal to $1.48 a common share. American Hard Rubber Co. omits common dividend: paid 50 cents May 15, and $1 previously. . Household Finance preferred share esrnings six months ended June 30, $11.76 against $10.39. L-high Valley Railroad June net op- erating income off 44.6 per cent; six montks off 23.1 per cent. Ncw England Telerhone & Telegraph common share earnings, six months erded June 30. $4.71 against $4.41. Noith American Light & Power— Four subsidiaries filed reduced gas and ‘Westorn Maryland Railway June sur- plus affer charges, $52,142 against $106,902\a year 2go. deficit, 9} 2 New 1New Eng G&E 55 5New Eng G&E 8 New Eng Pw, 5! & L FOREIGN BONDS. 1 Bogota Mtg Bk 7Ts '47 56 2 Buen Air Prov Ts '52 63% 1Buen Air Pr T'as '47 0 1 Cauca Valley 7 4 Ann Arbor Railroad June $58,536 against net income, $11,493; six months’ deficit, $132,488 against net in- come $37,052. Wabash Railway June net operating income, $203,208 against $433,649; six months, ‘$1,365,106 against $3,341,077. ARUNDEL CORPORATION. BALTIMORE, July 24 (Special).— Net profit of the Arundel Corporation in June toteled $255,913.58. This com- pares with $345,774 in the same month six_months_ended \June 30 nc'zn Sfi‘im was $1,127,020, compared with $1,197.513 in correspdnding pericd a year ago, a decrease of $70.492. Dividend of the corporation in June e e e g by g nths’ el i m:"' ovl:r uo&m in excess Bk Co 8y K 51 50 s A33 T warrants. xw—Without w. When issued. s N s e Hosts of Anglo-Catholics from Lon don, 'illou;.hmwalg and the west 'zoal;fl‘y recently joine & pligrimage as- tonbury, England. 1 4 1 ww— ants. Eaxen Stinnes 7s '36 Terni Boe 6 With r n—Ne: a7, | 1031, | 56 8312 0 | December OATS— July ; September December RYE— July oo September December NEW SECURITIES |" NEW YORK, July 24 (®).—New se- | curities offered today include Commonwealth Ediscn Co., $20.000.000 31 per cent gold notes, due July 30, 1 priced at 99.83 and interest, | | vielding 3% per cent, by Halsey, Stuart | & Co. | Gary Electric & Gas Co., $8,000:000 | Airst-lien collateral 5 per cent bond: | due July 1. 1934, priced at 98 an | interest to yield about 5.75 per cent, by Halsey, Stuart & Co. State of South Carolina, $5.000.000 | 317 per cent highway notes, ~te July 15, 1932, priced to vield 3 p.r_cent, [bys syndicate headed by Halsey Stuart | & Co. Pacific Power & Light Co., $3.500.000 first mortgage and prior lien 5 per cent bonds, due 1955, priced at 981z | and interest, to yield 5.11 per cent. by zfiézdluu headed by W. C. Langley 364 3078 METAL MARKET. NEW YORK, Ju'y 24 (#.—Copper quiet: e'ectrolytic, spot and future. 7%-8. Iron quiet: unchanged. Tin easy; spot and nearby, 24.15; future, 24.37. Lead steady; spot. New York, 4.40; East St. Louis, 4.22. Zinc steady East St. Louis, spot, 3. Antimony, 6.75. Bankers’ Acceptances. NEW YORK, July 24 (#).—The total volume of bankers' acceptances out- standing on June 30 was $1,368.000,000, a decrease of $44.142413 from the end |of May, but $63.541,765 above a year {ago, the American Acceptance Council reports. 36 200 e BALTIMORE STOCKS. Special Dispatch to The Star. BALTIMORE, July 24— INTEREST RATES. Call money was unchanged last week, but time funds eased off slightly. In the averages that follow the level fs given for comparable periods as calcu- ated by the Department of Commerce: Time. Call. . 150 150 ... 16T 150 346 225 ! Sales STOCKS. 40 Arundel Corporation 45 Baltimore Trust Co. . 2C & P Telephone Balto pfd 10 Consolidated Gas com. 7 Consolidated Gas 5% cu 10 Finance Co of America 58 Manufacturers Fin Co c £56 Maryland Casualty Co M s & Mine Week ended July 18. Previous week. « Same week last year AND BOND AVERAGES By the Associated Press. FRIDAY, JULY 24. STOCK STOCKS. 20 50 Industrials. Rails. .106.3 2 50 Month age... i future, 3.95.} 33, | built in Great Britain and Ireland and 442 |France and I‘aly each is constructing (Copyright, 1931.) ‘Bunn—onhpound prints, 28'5; tub, 2715 Eggs—Hennery, 22a23; current re- ceipts, 15817. Poultry, alive — Spring brollers, 3 pounds and over, 33a35; 2 to 2% pounds. 32a33'; 114 to 2 pounds, 2! 30: Leghorn broilers, large, med'um, 22a23; hens, large, small, 18220; Leghorn hens, 16 small, 13al4; roosters, 12al Dressed—Spring broilers, 3 and over, 38a40; 2 to 2'» nounds, 37a 3815; 1'; to 2 pounds, 37a35; Leghorn 28a30; medium, 28; hens, 1, 20a22; horn. 22033; 158 14; Long Island Meats—Beef, prime, 15; choice, 14; medium, 121;a13; lamb, 17al8; -veal, top, 14a15; choice, 12a13; pork loins, 8a2 23a24; fresh hams, smoked hams, 20a2l; strip bacon, 24; lard, 1015811, Live stock—Hogs, heavy, 6.5087.00; light and medium, 7.75; pigs, 7.00a7.75; roughs, 3.50a5.00: calves, 5.00a7.50; Spring lambs, 5.00a7.50. Fruits—Watermelo: 35a80; canta- loupes, North Cafolina, 50a2.00; - fornia, 3.00; oranges, 5.00a6.00; lemons, .50; limes, per 100, 1.75; honeydews, 1.75. honeyballs, 2.00a3.00; bananas, 1,50a2.00: apples, per bushel, 75a1.50: box stock, 2.25a2.50; huckleberries, 3.00 24.00; pineapples, 3.50a4.00; grapefruit, Porto Rico, 4.00a4.50; blackberries, 4.50; Persian melons, 2.75. Vegetables—Potatoes, per barrel, 2.00; sweets, permt‘su.hel. 1.50; string bea celel 2l .00; large crates, 2.00a2.50; cabbage, 35840 spinach, New Zealand, 50; kale, 25835: beets, per 100 bunches, 2.00; carrots, per 100 bunches, 2.00; lettuce, Iceberg, 4.50 26.00; tomal , 2-peck baskets, 75a 1.00: peppers, 50a75; squash, 25; onion: California, 50-pound sacks, 1. ern Shore, bushel ;hlkm. 5. DU PONT NET DECLINES FOR FIRST HALF-YEAR By the Assoclated Press. NEW YORK, July 24—The semi annual statement of E. I du Pont d Nemours & Co. showed net income of $27,610,394 for the first half of thi: year, compared with $32,951,314 for th comparative perod of 1930. Beducting debenture dividends ther: was $24,624,404, or $2.23 a share, avail- able for the common stock, or 23 cent a share in excess of awvidend require ments. These earnings included divi- dends. from du Pont's General Motars investment amounting to $1.35 a share common. In the first