Evening Star Newspaper, July 29, 1931, Page 15

FINANCI CURB SHARES SINK T0 LOWER LEVELS Pivotal Issues Sell Off Easily, as Constructive News ~Prev, 1 Hieh. Lew. 0 4% 224 3% Is Ignored. - BY JOHN A. CRONE. Bpeeial Dispatch to The Star. NEW YORK, July 20—The Curb| a4 Exchange, after opening lower today, | 3% turned active on the downside in :he; 110% AL. Note—All stocks sold dred-share lots wwnllhfl“.l..nlfldb]tl.m-(&) (2808). A“I.M'Iuh' m 931w Dividend Rate 8 Aero Supply Mfg(A) 214 Aero.Supply B Affiitated Prod 1 14 Alleg Gas.i... Aluminum Co of l "ll 1 3 104% Alum Goods (1.20). .llBl 18% Alu Co of Am pf (6). AmCit PAL. Bb10% Am Com P A lhlofi) Am Com Po 15t pfA T Am Corp (fl!e). .ee Am For Pow war. Am Founders. AmGas & Elee - % Am Gas & El of (6).. Buonde. THE EVENING NEW YORK CURB MARKET ey 1931~ )5% 10% 100 &8 5% Int Ut 634 2% 1% Mexico Bales— Lew. Blvmnd Rate. Add 00. Open. High. Lew. 8% Int Petroleum (1) 13 1 9114 Int Utilities p; ulvll 'ollllll (A).. May Rad & Telev(1), Memph N G Co (80¢) Mesta Machine (2), .. Mich Gas & Oll Corp, Mid St Pet vte B. ..., Mid WSt Ut (1%).., STAR, WASHINGTON, Received by Private Wire Direct to The Star Office Ities B 2 ) BOs Interst Pow pf (7).. 6 Lalian Superpow A Kolster-Br (Am Sh 1 17 Lon‘ llcll PLB (8). 1268 Stores (1), 13 Ohio Ofl. . ‘ lvuhble m delivery on % Mfln( Btate, was D. C, WEDNESDAY, Grain Market By the Associated Press. OHXOAGO J“"ua jenly. soared 1 hel today !or grain Chicago Jul. eantnm. which exvlro in the next 4 hours. A shoftage of more than 6, ,000 bushels was officially reported outs 1.n these tracts. Failure M e word that much !m the country’s chief corn- to fire ht of | SUBAr to the contributed upwar prices. Oorn_closed ex ranging all wn{“trmlmnni%cmnsmx yesterday's wrmm price for July was 68! cents, the market rapidly fluctuating one-half cent or more betveen trans- actions hardly an eyelash ‘Wheat closed firm, 3- up. oats, 14-% advanced, and prov!.slom show- JULY 29, 1931, SUGAR PRICE GAIN LAID TO CHADBOURNE PLAN By the Associated Press. NEW YORK, July 29.—James H. Post, president of the National Sugar Refining Co., said that the Chadbourne Lun for aiding the su{;r industry was ly responsible for the rise in prices Taw and refined sugars. "!unr prices,” Mr. Post s “have advanced approximatel mu a'cent & pound because of withdrawal of raw FINANCIAL, HAWAIIAN ISLANDS FOUND PROSPERING Banker Reports Virtually No Un-| o employment—Pineapple and Sugar Trade Booming. sugar from the market and adoption of | asserts l policy of leaving sugar cane stand; the flelda instead of cutting and |San Fran 1t and thereby increasing the ¢ Chadbourne plan is responsible for the change of sugar policy which has resulted in reducing the available auwlun the market. Had not the rne plan gone into effect, you would see raw sugar still selling around eisco, who has just returned from a month’s there. “In the midst of world-wide de- rrullon," sald Mr. Hellman, “the is- lands are enjoying a fair measure of prosperity and there is virtually no unemployment, principally because the two principal industries of the islands as low as even the in_the Unif States. Labor problems in the iands are mfly uu:. ol ‘the. practice a. lands under three-; needed. of labor from the Phillipine Is. ~year contracts as > CHICAGO DAIRY MARKET. CHICAGO, July 29’ (#).—Butter, re- te; eelpu 9,362 tubs; receipts, mmy. prices unchsnm i i NEW YORK BANK STOCKS NEW Yonx July 29 (#).—Over-the- counter mar Banks. —sugar and pineapple—are going full blast.” Ch Many sugar companies are showing profitable operations in spite of the |E' lowest price levels in many years, he said. This, he explained, 1s because of the substantial reductions in oj r-t- ing costs and overhead made the last few years. Bank deposits, particularly savings, show marked increases over recent 45 Am Laundry Mach 2. 30 Am Maize Prod (2).. % Am Maracaibo. .. .. 19% Am Superpwr (p40c) 9y Am Superp pf (§). Am Uti1&Gen (B)v: Am Ut&Gen cu pf(3) Am Yvette Co (25¢) 95 .10 1300 1 i 1 09 14 O 08 14 09 08 3 €N 1 1 1 1k B b e B O & cent a pound and refined at its recent low level. Refined sugar was selling at 4.35 cents a pound in May. Now the market is around 4.75 cents.” Mr. Post, who also is chairman of the board of the Cuban-American Sugar Co and a director in other companies d in the production of sugar, uld e believed the sugar market would hold its advance. forenoon, as sccurity markets generaliy | were' upset by the reduction cf the | United States Steel eommon quarterly | dividend. Electric Bond & Share opened off | 11} points and subsequently sold lower. | Citles Service was off about 25 point. Standard Oil of Indiara was down | about 3 ! Deere "& Co. fe]l nearly 3 points in ! early dealings, reaching & new record | low level following the ommission o!‘ its common quarterlv.dividend of 20 cents. - Expectations that Standard Oil of Indiana would halve its 50-cent com- mon. quarterly at the next dividend meeting, on August 3. brought further selling into that stock. On the other hand, the market chose to ignore constructive news. Great At- lantic & Pacific Tea, which declared an extra dividend of 25 cents on the com- mon, opened off 2 points. President Seubert cf Standard Oil of Indiana, replying to Gov. Murray's ulti- matum that if oil did not rsach $1 a barrel by Saturday the Oklahoma militia may stop the flow of most wells, sald that Stanolind Crude Ofl Purchas- ing Co. bought crude without reference to State lines and on the basis of de- mand and supply. However, wire houses here with Oklahoma connections thought it significant that in some cases of crude in that State had Cities Serv pf buying prices by 20 cents & Cit 8v pt BB (6) y. Claude Neon Lta, Inc International Cigar Machinery, with Clev El Illum (1.60).. an_initial decline of 8 points, was the widest' mover in the forenoon, with Aluminum Co. of America down about 6 points. Midland Steel Products was the weakest in the steel shares. Niles- Bement-Pond featured the air issues, as it rose 2'3 points when the Street learned that Pratt & Whitney, a sub- sidiary, is working on a big order re- ceived from General Motors. Oper- ations in the first half year enabled this company to break about even after it had shown a deficit of $100,000 in first quarter. ing 2 cents to 15 cents gain. WH!AT - Beptember * December . Mid West Util (8%). Mid St Prodn (2)... Midland Unit (b6% ) Mo-Kan Pipe L (A). Mohawk Hud 1st (7) 50s l\n Aviation. ETTTTISISTITS =3 Arkansas Nll mem -nd freight service hu bem between Potosi and -' RCA Victor ANnNounces the Radiolette 0 complete with RCA Radiotrons and new Pentode tube— 26s 1 Niag-Hud Pow (40e) 17 Niag-Hud Pow A w % Niag Sh Md (40¢c)... s Niles-Bemt-Pond (1) 2 % Nipissing...... 2 1 6 H 13 Bezemp /e W BONDS ON THE CURB MARKET. Salesin DOMESTIC BONDS. thousands. S Al a Pw 435 '67 9914 Beneficial IL (13%).. Bickford's Inc pf 2% Nordon Corp Ltd. Nor Am Aviat A war NoAmL&P (b8%). 50, Nor Wevpt (3)..... Nor Eurcp Oil Corp. I Nor Ind P S pf (7)... 268 Novadel Agene (4).. 1 Ohto Copper. Ohilo Pow pf ( PISG&EII!D!I“- 2 o1l 26 » Canada Marcon! Carib Syndicate. Carnation Co (13%) . Celanese Cp pf (7). Cent Pub SveA b10% t Stat El (b10%). X 1 ? Phoenix Becur Corp.. 4 Phoenix SCpt (3)... 1 Pittsbgh&L E(110)..1008 Plymouth Ofl (1).... 17 Prod Roy Cp (b10%). 2 Propper McCallum.. 8 Prudential Invest... 1 PS, N I1I(8) $100 par. . Pub Util Hold Cp Puget Sd P&L pt (6) 20 * 38822232288 ST IBO Creols Petroleum.. Crown Cent Petrol. .. Cuban Cane pr opt w. Curtiss Mg Co (A).. Dayton Alr & Eng... 1 Decea Record....... Deere & Co (1.20). De Forest Radio Derby Oil Refining. . Detroit Atrcraft Cp.. DressSRA (3%)... Dresser Mfg B (2) Driver Harris pew. . Dubllier Cond & Rad Duke Pow (5).....00 Duquesne Gas Corp.. Durant Motors...... East Util Assog cv Util Inv A. Eisler Bleotrio Corp. Elec Bond&Sh (b6%) Elec Pow Asgo A (1) * Elec PAL 24 ptA 7.. - ElecP& Ltop war. . El Shareholdg (b6 %) Emp Corporatien.... Europ Elec deb rta. . Evans Wallow Lead. Florida P & L pf (7). Ford M Can A (1.20) Ford Mot Fran 37%e, 9% Ford Mot Ltd 36 3. Fox Theater Cl A. Gen Aviation. .. & Gen Kl Ger rts(149). Gen Empire Cor (1).. Gen Theat Eq cv pf.. Globe Underwr (16¢ ». Gold Seal Elec new.. Geldfield Consol Goldman Sach T C Gérham Mf vte (12). 50s Grt At&Pac Tea t1% 308 Grt A& P T pf (7).. 1308 Groc Strs Prod vte.. § Guenther Law (1)... 2 Guif Otl of Pa (1%). Hamilton Gasrets. Happiness Candy . Hecla Mining (40¢). Hires (CE) A (2)... Horn & Hard (24).. Hudson Bay M& 8 .. Hygrade Food Prod. Imp Ol of Can (50c) Imp Tob Can (35¢).. Ind Ter Illu OH B. Industrial Finan ctfs Insull Inv (b6%). Ingtrance Sec(40e). . %’ Intercontinent Fet n Int Cigar Mach (2%) Cor} Roch G & EI pf C(6)"1008 Roch Gas&E pf D(6) 60s Rock Lt & P (30¢).., & St Anthony Geld. ... :l Rfll‘lll‘(l’lper (80c) 1Dix GO ezal H (a50e) .. x Seiberling Rubber. of Bugueans | G .,‘3 e ::lo&udkxgau.t‘r‘u Jg fl:s al =nllon :u ;g ngifl attucl on n s oeton $s Shawinign WaP 214 . 7 flf‘},' e Sheaffer (WA) P(13). 1 Rederar at o ShsnCarp pt (43). .. 3% ith (A O) (3) Solar Refning...... S SR ] ic South Penn O11 (1). ., [§ H SoCalEdptA (1%). South CEd pf B 1%. Southld Royalty 20e. Spieg May Stern pt.. Stand Ofl of Ind (3) . Stand Ofl of Ky 1.60.. Stand Oil. Ohio (3%) Starrett Corp...c.em . Btarrett Corp pf (3) Stein Cosmetics Strauss (Nathan) Strook & Co (60¢) Stutz Motor Car. Swift & Co (3). Swift Internat (3). .y ‘Technicolor, Ine. New York Cotton Bpecial Dispatch to The Star. NEW YORK, July 29.—After break- ing & dollar a bale and making new low records for the year, the cotton market steadied today and recovered all the early loss at one time. A sharp advance of 10 cents a bushél in July corn at Chicago started short covering in cotton here and in New Orleans, but weakness in the stock market left the list with a loss of 10 points on the day. Spots were reduced 10 points to 8:45. Cotton range: T nwel LB nnon " * 8 PS- TS « 3 T ORUPRPITN- High, [} MONEY MARKET. - NEW YORK, July. 29 .(@.—Call money, sieady; 1'; per cent all day. ans, st;eld}‘ two-four months, five-six months, l‘:nz per cent; ‘Time 11g81ts; %a2. Bank- prime commercial paper, 1 ers’ acceptances unchanged. CHICAGO STOCK MARKET By the Associated Pross. CHICAGO, July 20.—Following Is the | complete official list of transactions in £tocks on the Chicago Stock Exchange | today: ‘Tubise Cantillon ll) Union O11 Assoe (2) 2253 S3BTS-8333323238823292 P CX-TTSIST T P 55 A ‘51 7N.n-unseu S 137, Nat Electric 5',s ‘78 & 1 6s A 2026 L P& LSy 573050 '3 s Steel Corp 5 46 5 b Pow 65 A 2042 13 Nevaga cat s 8 New Ene O&E 55 U S Radio & Televisn Unit Verde Exten (1) 3238esnnssoesisEs bL Another great achievement from “RADIO HEADQUARTERS” RCARadiotrontubes,ineluding the sensational new RCA Pen- tode. At its astoundingly low priee, you can afford the Radio- lette as an extra set in addition to your large radio. Ask your RCAVictor dealer today to dem- onstrate the Radiolette and other attractive new 2 'k Financial (lnc) 1 en Copper..... 51 on Jones (1%).. 1 9% Wiworth (FW) Ltd. 30 ‘YOl & Gas....... 3 14 . es Bultus! 124 2% Dividend nusi payment. K. .:nul i 2 8 I d 8 1 2 § 1 1 1 1 L 1 3 5 4 2 4 1 s 2 Okla Gas ? it 32 Pacific 7)&: 4’"' ' 710; 4 80 1 TENC 2 1‘01'«. p S Eac Wenoff 4158 35 B 21 Pa Oen P&L 413% 17 97 : Tates I dolia: ! % rs based om last quarteriy or semi-an- in Flug 6% in stoct. nefii'.ul‘:'?n' 8% in slock. p Pad last Tearene Temmis rate. on Partly extra. !Pill‘ 4% in stock. R, &5 % in us 10% m Plus 3% in 85538 o F $ et plain to fair, 5.0085.50; pl.];n. q.sg;s .00. ogs—Recef| 500 head; light sup- ply, market gllh light, ;' 90a9. 12 heavies, 7.00a865; medium, 8.90a9.15, mughs 500;025 light pigs, 8.5029.00; nnd lambs — Receipts, 700 light supply, market steady; shtep. 1.00a2.50; Spring lambs, 4.00a Prcsh cows and lDl'l TS, Ml 00860.00. Calves—Receipts, 50 head; ht sup- | Ply, market steady; calves, 35 29.00. | — c No Bh & M1l pi common to mcnn YQHDII Cab. ties &Yil . 1 G f A ‘omwith lflll . nsumers STOCK AND BOND AVERAGES By the Assoclated Pross. WEDNESDAY, JULY 29. §5==..=s=:d:= gineers.. . from Victor’sfamous sound experts...in short, from “Radio Headquarters™... comes one of the greatest acecom- plishments in radio history... a powerful radio for only $37.50 commplete with STOCKS. 5 Pot Edis 4'us F n| 20 grmomne B4 58 E 2,0 Srnuadaticuant agzaans 4 ge 2 it s Three years ago. nsull U pi 3 High, 1931...... eliogs awm—.n L {PASSING OF COMMODITY PRICE DECLINE IS SEEN obs-aLenei : ro Low, 1930 y L B incoln Print | BY the Associated Press. NEW YORK, July 29.—Belief that | commodity prices, in practically all | cases, have passed their lows for the | next year or more is expressed In a |survey issued today by Standard Statisties Co. ‘We anticipate a series of moderate buring movements , followed, in each ! instanice, by lester relapses which will | correlate with suc periods of hope and discouragement,” the survey | says, “but pursuing, nevertheless, a | moderately upward trend.” The survey polnud out that com- modity prices in general during the past menth registered the first definite reversal of trend since the inauguration of the al decline In the early Summer of 1 §§ 0 -t0g 0B i macn 40 Mid Ut 78 pi $oMifer & 80 M Gt 555 e High, 1029 Low, 1929 Baltimore Marke! 1 to The St | corn, 3.25a3.50 per barrel. Special Dispatch to The Star. i b 2 | BALTIMORE, Md, July 29.—Pota- |, Qat—No- 3 white, domestic, 36; No. | ioes, mew, barrcl, 7522.00; sweet pota-| “Roi Nearby, 40a45. ! toes, bughel, 1.50a3.25; beans, buchel,| Hay—Receipts, none. 40860; hbeets, per 100, 1.00a1.50; cab- N & o Am tario M Brfe i ines iymet METAL MARKET. NEW YORK, July 29 (#).—Copper, dull; electrolytic, spot and future, 7“5! 8. Tron, quiet, unchanged. Tin, qulet spot and nearby 24.25; futu 2 L, MR SEEE B FE G R T e 1w 35205 Tora! spot, domestic, 50%: July, 80%; August, 501;; September, 5115, Corn—No. 2 yellow, domestic, 72; cob e, General hay|® market is quiet. Receipts ample and e ‘ates Mach . Zenith Radio k sales today- I& f?-..n De o 5 d sales today—s18, aciiie BALTIMORE STOCKS. Special Dispatch to The Star. BALTIMORE, July 29.— sTocKs B4 Acunder Corporation . sitimere Trust Co . e & mercial Credit pm onsolidated Gas o - SR Bl LY -133; old bage, bushel, 20a30; carrots, per 100, 2.0083,00; corn, per. dowen, 5al8; cu- cumbers,. hamper, 20880; eggplants, hamper, 1.00a1.35; lettuce, per crate, 1.00a5:00; okra, bushel, 2.00n2.50; pep- pers, hamper, 25a50; onions, per 100 pounds, 90s1.25; peas, crate, 2.25a3.00; nunh r bushel, 30a40; tomasoes hamj M l ples, bushel; 18a1.f 00; u- %?rt. 8a16; eanta- "m crlu,\ 2,25; cherries, per b ¥ Poull I)lfi'y Market. , alive=—Chickens, pent. 18a24; mhnms roosters, 12a15; dueks, un 2; *{ peiz, 20225, ¢ qoonations; Eggs—Receipts, 871 enu. cun!nt ?ct;gu, 18216; hennery, whites, firsts, 18! Butter—Good and fancy; creimery, 23027; ladies, 18a19; Process, 20e2i; store packed, 15. ; my and Grain ‘Prices. t—No. 3 red Winter, export, no|to "No. 2 red Winter, garlicky, . outward movement slow. Competition of pasturage making itself felt. Fair to good timothy and clover mixed hly (old), ranges from 18.00 to 20.00 per ton. Between seasons now and situa- tion very unsettled. Straw—No. 1 wheat, 12.00812.50 per ton; No. 1 oat, 12.00a13.50 ton. Live Stock Market. Cattle—Razceipts, 50 head; ligh ply: market nupa e { *Sters—Choice. 1o prime, none: good oen"{n 5a7.75; medium t0 good to medium, 575!850 5.25a5.75; common to to ¢choice, to cholce, none; medium to good, 4.50a 8.00; fair to medium, 4.0024.50; plain | con—ch.olce to e, none: geod to choice, none; medium to good, 4.00a Cui.llrdl’h I‘dlu-. 'MM.O':. plain | e Ol g e 800d | fnieinat. {nr 3.50a4.00; common to plain, SHORT-TERM SECURITIES. menmfl by J. & W. Sellgman & Co.) Bid,~ Ofter. Anu-n-l Ss 1937.. 103 Amer Vi 4 America ) Baltimore oni w.n Abs3 m‘il‘.‘n 19d3. anadian. or“ A eusg ROCE I{hnl & xm cnu. c%a o"g- s x‘u o xs i+ Cu ¥ u 1936 538! 2==-=§=§:s W SRR SE ;, S (L) P il 8 - Mariand Oil X3 | National, Datey PERLTEEt Y BE: I #FFEEE FEEE F OFESE WS = =2 ome s eis o m 0 records lm two 10~Ild.|- m“‘y -ad:‘r‘lbkw-lewluw «redorblueFab- " 350 RCA Victor Company, Inc., Camden, N. k