Evening Star Newspaper, August 13, 1931, Page 15

F OILS ARE STRONG |[NEW YORK CURB MARKE " ON UNEVEN CURB, jAllied Industries Also Show| Better Tendency, With Slight Gains. BY JOHN A. CRONE. Bpecial Dispatch to The Star. NEW YORK, August 13.—Strength in ofls and allied indusiries featured toda; uneven Curd Exchange session. tric Bond & Share rose about a raf point in the forenoon. United Light & Power A also firmed and some of the early softness in Utilities Power | & Light common and Middle West Utilities was erased. Citles Service was up fractionally. Two developments in the oil situ- | ation—the ning of a proration bill “bv Gov. Sterling of Texas and promise of more drastic measures to cut crude _cutput by Gov. Murray of Oklahoma: ‘beought gains ranging from fractions to scveral points in the petroleum shares. Humble Ofl, largest buyer of Texas ‘erude, opened up 2!, points at 62. Gulf ‘Oil, another important pari of the “Texas ofl picture, started unchanged. but later rose about 2 points. Standard Ofl of Indiana, which is being quoted ex-dividend 25 cents today, gained more than & point during the morning bulge. Vacuum during this period was up 2 points, and such other Standard Oil ‘shares as Standard Oil of Kentucky,| International Petroleum, Ohio Oil pre- ferred and Imperial Oil also pointed higher. A. O. Smith Corporation, an impor- tant supplier of oil and natural gas companies, felt this upturn in the pe- Aroleums, gaining nearly 2 points di gplt‘ its ex-dividend quotation toda; In the pipe line division Cumberland. ‘with a rally of 2 points, duplicated its high reached earlier in the week. rfect Circle was the outstanding mover in the miscelianecus industrials, as it rocketed 103, points to a record high mark for the year. This move fol- Jowed publication of a brokerage analy- sis indicating June net was up 83 per cent from & year ago and up 47 per cent from June, 1929. This upturn, however, did not spread to other auto- motive accessory shares or to the motor list generally. Ford Motor of Canada A ‘was a trifie higher and for a time Ford ‘Motor Ltd., braced, but Stutz Motors In the mine list it wis the gold shares that brightened up following dis- patches from Ontario telling cf one of | the richest gold strikes in the history of that province. Lake Shore Mines Ltd. opened up fractionally, as did Kirkland ‘Gold, Teck Hughes and others. Atlas Utilities A ed to discount the emission of its common quarterly divi- dend of 321, cents, as the stock opened s shade higher. The company halved the 75-cent quarterly on the preferred. Powdrell & Alexander, makers of home (uml:hufi. turned unusually active, but remained unchanged. Aero under- writers featured the air list with a rise of 1Y, points. Central States Public Service A 10 & n°>w lcw and 50 did Ameri- c2n Commonwealths Power Corporation (Delaware) preferred. Chatham-Phenix allied made the best shoing in the spe- cialized trusts. ‘The Curb Exchange admitted to trad- ing today Ohio Edison 6 and 7 per ceént nnx and Algoma Consolidated common and preferred shares. B 5k CHICAGO STO CK MARKET CHICAGO, August 13.-—Following is the complete official list of transac- tions in stocks on the Chicago Stock Exchange today: saige Abbot Lab ... 200 Al Prod ......... .fim ub Ser pf...... Am yens S High. Low. Close 81, 2% > 2 £ - i 114 Iueseiast degy-seaitsaanneiion.. _?:§=t=»3= 2 8 I & SuaSBs £ FEEEC R Sggette-tuBez s 2% | 4 2 - 00! o | s INANCIAL. Note—All stocks are sold in excepting those designated by ~Prev, 1931 Stock and High. Low. Dividend Réte. 1 614 Aero Underwriter Affiliated Prod 1.60. Agfa Ansco. Ainsworth Mg (1).. Aluminum Co of Am.126s Aluminum Co Ltd. 2 “apital prpf 514 Am Com Prist pfA 7 Am Cyanamid B. Am Dept Stores Am Fquities. . Am For Pow war. . Am Gas & Elec (11). 2 Am Gas & EI pf (6).. Am Invest Inc (B).. Am Lt & Trac (21). Am Maize Prod (2).. Am Maracaibo. ..... Am Superpwr (p40c) Am Util & Gn B vte. . Am Ut&Gen cu pf(3) ; Anglo Chil Nitrate. . Appalachian Gas s Nat Gas Art Metal Wks (60¢) Asso El In Ltd 30¢ Asso G&EI (A) (al). Atlas Utll Corp. ... Auto Voting Mach. .. AutoVM ev pr pt 50c. Bahia Corp. a Corp pf. Beneficial 1 L Blue Ridge Corp Blue Ridge cv pf a3, Brazil Trac Lt&P(1) Canad@ian Marcon! Carib Syndicate. . Cent Pub SveA b10% Cent Stat Kl (b10% ). Cent StE cv pf naé. Cent Bt El pf xw(6). Cent West PS Aall Chain Store Deve! Chat Phoenix nv Chief Consol Mining. Cities Service (g30c) Citles Serv pf (6). .. Neon Lt Inc. e nd Tractor Colon Ofl. . Col O1l& Gas vic. ... Cmwith & Sou war. . Com Wat Ser g12%c. Comstock Tunnel. .. Consol Auto Merch.. Consol Copper. . Cont Shares pf (B). Cord Corp Creole Petroleum. . .. Cumberland P L (2).2008 MIgCo (A). Vright war. Darby Petroleum Dayton Afr & Eng Deere & Co. .. De Forest Radio Derby Oil Refinin Detroit Alreraft Dress S R A (3%) Dresser Mfg B (2).. Duquesne Gas Durant Motors Elec Bond&Sh(h6%) 21 Flec B & Sh pt (6) Elec B& Shcupfb, Elec Pow Assoc A (1) Flec Products of Col, 1l Shareholdg (b6 %) Elec Sharhidg pt (a6) Empire Corp. .. Empire Pub Sve (A Furop Elec deb rt Falcon Lead Florida P & 2 1% 5% 2 204 250, b e N Y, Ford M Ltd (38 3-5c Foremokt Fabries Fox Theater (A). Gen Alloys. Gen Aviation. Gen Cable war ¢ Gen Bl Litdrets 353-6¢ Gen Empire (1)..... Gen G&E cv pt B($).200 en Theat Eq ev pf.. Glen Alden Coal (4). Globe Underwr (15¢) Gold Seal Elec new Goldman Sachs Gt At&P T nv (16 Gt At&Pac Teapf(7) 308 Groc Strs Prod vte.. ~ 3 GulfOilof Pa (1%). 13 Hamiiton Gas rets. .. Happiness Candy. .. Hecla Mining (40c)., Hellinger Gold (65c). Hudson Bay M & 8. . Humble Ofl (1235). . Hygrade Food Prod. Imp Ofl of Can (50¢) Imp O Can reg (50¢). Insull Inv (b6% ) Insurance Sec (40c). Intercontinent Petn. Int Petroleum (1)... Int Saf Razor B(1) 1 PR A D en AABND AnEE SN RIND B A 2 2 H 18% e i . 15% 13% TRENDS ARE MIXED one hundred-share lots the letter s (; Sales— Add 00. Open. High. 10 THE EVENING STAR., WASHINGTON, Received by Private Wire Direct to The Star Office Stock and Sa Dividend Rate. Add Int Utilitfes A43%). Int Utilitles B Interstate Equities. . Kolster-Br (Am 8h). Lackawanna Sec (4, Take Shore M(+1%). Mc Lone Star Gas n 88c. 5 Lonx Island Lt (86c) MacMarr Stores (1 Mapes Con Mfg 43 Mavis Bottling (A).. May Radio (1)...%.. Memph N Gax (60¢). 112 Mexico Ohio Oil. Mid Sta Pet vic A Mid Sta Pet vic B. .., Mid West Ut (b8%). Mid W Sts Ut b10% Mid St Prod n (2)... Mo-Kan Pipe L (A)., Miss Riv Fuel bd rts. Mountain Prod (1).. Nat Family Stores. . 3 Nat Investors. Nat Service......... Nat Sh T Sec A 60c Nat Sugar NJ (2). .. New Eng Pow pf (6). 40; Newmont Mining. ... Niag-Hud Pow (40c) Niag-Hud Pow A w.. Niag 8h Md (40¢)... Niles-Bemt-Pond (1) Nipiaaing. .......0. Nitrate Corp Chile B. Nordon Corp Ltd. . . : Nor Am Aviat A war, No Am L & P pf (6). North European Ofl Nor & So Am Corp A. Nor St Pow pt (6). Ohio Oil cu pf (6 | ~Prev. 1931. High. Low. 45 31N 10% 5% 14 29 24% Low. Ciose. /w33 6% 6% 1% 80s) (2508). 10 o PYPPYWUIPADING FUTeIoyeropupopne-3 M 5 M [EITTIRTETRES: P T T YR Pac Western Ol Pan Am Alrways. Pandem Oil. . Pennroad Cor Tenn Wat & Pow (3) Perfect Circle (2) Philip Morris Ine 4 Phoenix Secur Corp. Phoenix § C pf (3)... Pilot Rad Tube A. ... Pines Winterfr (1).. Plymouth Oft (1) Polymet Mfg. . . Powdrell & Alex 115, & Premier Gold (12¢).. Prod Roalty (b10% ). Pub Util Hold war... Pub Util Hold xw. Pure Oil pf (6).. Relfance IntA..... Republic Gas Corp. . Safety Car H&Lt (4) St Regis Paper (60) . Salt Creek Pro(1.40). Schulte Un e-31 St. . Seaboard Util (28¢). Sexal L & H (a50c). . Selby Shoe (1.40). Selected Industrie Sle Ind al ctfa(5%). Sict Ind prior Sentry Safeyy Cont. Shattuck Den Min. Shenandoah pf (ad). Smith (A 0) (2 Solar Refining . . South Penn Ol (1).. SoCal EApt B (1%). S0 Cal Bd pf € (1%). uth Col Pwr A(2). Southld Rovaity 20c. SW Dairy Product Stand Motors. ...... Stand Ofl of Tnd( 1). Stand Ofl Ohfo (235). Stand Oil of Ky 1 Starrett Corp....... Starrett Corp pf (3). Strauss (Nathan). Stutz Motor Car. . Sunray Ofl (b5%). Swift & Co 3 Swift Inter 3) Sylvanite Gold Mines Tech Hughes (60¢c). . Technicolor Inc. .... Texon Ofl&Land (1). Tran-Con Air Tran. . Trans Lux DL P & Tri-Cont Oorp war. Tri-Utilities. . Unit Corp war Unit Founders. . Unit Gas war Unit Gas Corp Unit Gas pf (7). Unit Lt& Pw A (1).. U S Dairy (B) U S Elec Pow ww. ... TS Inter Sec 1st pf.. U S Lines pf U S Playing Card 215 258 Utll P&Lt(at1.0215). 85 Ut P&L B(at1.02%). 1 Vacuum Ofl (2) 10 Vick Financial (30¢) 1 Voght Mfg Ce (1). 1 Wenden Copper. ... Woolworth (FW)Ltd “Y" Ofl & Gas 2T% | Dividend rates in_doll 61| nusl payment. *Ex dividend. % & Pavable in cash_ or stock. 13 | dividend. P! stock. | Pils stock. n Plus 25 5 L2 4 on I TPartly b Earable 3 atock. g Flus ¢% in 8 tock. k Plus 10% " in 9% “ in stock. p Paid Iast ve 1 terial and it is only a matter of time | up 50 per cent, 12 months up 518 per cent. Storkline Purniture common share six months to June 30, 6 when the farm equipment industry will increase its specifications. Agricultural machinery makers have sharply re- ¥ cents. duced their warehouse stocks and in | Associated Gas & Electric class A share earnings, 12 months to June 30, 4355838 ss! s <3 3%: IN STEEL INDUSTRY it *|Losses and Gains Offset Each Other and Raw Demand Remains Unchanged. S ol Pipe ischmann Spring ) . 2.2 W2eaddE. Gl 04 { By the Associated Press. NEW YORK. August 13—The iron 3., | and steel industry presents a confused some cases are only holding back pro- ductfon because they wish to extend employment further into the eoming Winter. | Shutdown Ended. “The Pittsburgh rail mill has re- sumed operations at a 25 per cent rate after a fortnight's suspension and is unlikely to be forced to shut down again this year, since Pall buving will soon get under way. At Chicago, where an interruption in rail output has been | avoided, releases also have shown an inerease. i “More than 160.000 tons of structural | steel will be required for five large projects which will soon be placed. “Awards of fabricated steel, at 30,- $1.85 on average number of shares out- standing. Baldwin Locomotive Works July con- solidated bookings (including affliated companies) up 2 per cent, seven months off 323 per cent; July consolidated shipments off 625 per ocent, seven months off 58.6 per cent Cleveland Eleetric Tluminating com- mon share earnings, 12 menths to June 30, $2.63 vs. $2.37 Commercial Credit common share earnings, six months to June 30, $1.02 vs. $1.10. Consolidated Retail Stores—July sales off 12.8 per cent. seven months off 10.2 per cent; 28 units reported in operation picture because of mixed tendencies in production and irregularities in the flow of specifications, Iron Age says to- day in its weekly review. 1" SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co.) id R 9 n 104 Ilis-Chalmers Co g rican Mo 1 |4 10813 i 16; ¥ 88 9113 104 108 91 ! eyt bty TREASURY CERTIFICATES. (Reported by 3, & W. Seligman & Oo.) i, | 1103 | actually reached fts lowest point, “Line pipe releases have increased demands on the mills for structural steel and reinforcing bars holding up and raiiroad demand appears (o bave passed its low ebb” the review say. ut specifications for sheets and tin plate are still tapering. “Losses and gains, however, virtually counterbalance, and total raw steel re- | quirements remain substantially un- changed. Slight increases in steel ingot !output were made at Pittsbmrgh and | Youngstown and declines were reported 1in the Wheeling district and at Cleve- |land, but the average for the country | at large is estimated at 30 per cent, the same rate As & week ago. Upturn Expected Soen. “Whether or not stéel production has as | { ! now seems to be indicated, it is clear | that several important market factors | point to an upturn in the mear future. | "Vaeation' suspensions by manufactur- ing consumers of iron and steel will terminate during the current th )Th' sutomobile , now rate of activity, must issue 3 poration news Co., Inc | ted Press | BY the Associated Press. July 31, 1931, vs. 30 units July 31, 1930. Evafis Products common share earn- ings, six months to June 30, 3 cents vs. 41 _cents. Hazeltine Corporation 25 cents qua: | terly dividend on capital stock; pre- viously paid 50 cents. MacAndrews & Forbes common share earnings, six months to June 30, $1.10 vs. $1.31. 000 tons, compare with 14,500 tons re- ported a week ago. New projects o | come out for figures total 26,000 tons, as against 32500 tons in the previous week “Steel pipe bookings have been sug- mented by the placing of 27,000 tons of 123, inch for a 207-mile ofl line for the Texas Empire Pipe Line Co., from East Texas to Port Arthur, Tex “A total 6f 25000 tons of plates and shapes Will be required for ysix ocean | vessels on which bids have been taken under the provisions of the Jones- White act. Four of them are for the American Diamond Lines and two for the Barber Lines N { ‘The Iron Age composwe prices of | Pig iron and stecl scrap have declined | slightly this week. the former to $15,50 | from $15.54, and the iatter to $0.35 | from $9.42 a week ago. The finished | steel composite price is unchanged at | 2.116 cents a pound 12 months ¢nded June 30, up 1.8 per off 0.4 per cent « Oklahoma Gas & Electric gross earn- ings, 12 months ended June 30, off 11 per cent. total income before depre- chpuvn oft Mu. B et . (Pittaburg) 088 earnings, 12 months ended June )o'.rofl 6 per cent, total income before Off 4.6 per cent. Pressed Steel Car receives order for o8 | ings, 13 months ended June';o. off a1 | pez cent, total income before depree i ‘ot 3.8 per cent. u¥ Standard Oil (Indiana) cuts Chicago | & St. Louls Red Crown Gasoline prices | 7 cents o galion s Uni t's Gypsum common share earnings, six months to June 30, $1. ST Y g United States Steel reported National be Co., subsidiarv, received order M.u:mntuxlwbe"‘ B 208-mile line b, used in NEW YORK, August 13—The fol-| Pipe Line Co. T S lowing is & summary of important cor- 2 passes preference divi- by the Standard | So%: Dee pald 8715 cents, quar- Youngstown Sheet & Tube-H - 3 lubbard six months . met TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. ., New York, for the News Trend. Electric t for the week ended| $4.393 Auu«nmlmmwm“ hours, a declinie of 2.9 per cent from the | according cam- , mon share , six > ‘”‘u”u‘:fl;fl —mg.vun, Iast| American & General Corf ‘&-Am: previ- T30 “cavioads of iy e Northern States Power gross earnings, | cent, total income before deprechl?:n' D. €., THURSDAY, AUGUST 13, 1931. Markets at a Glance NEW YORK, August 13 (#) —Stocks strong: ofls start advance. Bonds ir- regular; rails sag, utilities rise. Curb firm; olls strong. Foreign exchanges irregular; Prench franc and sterling ; firm cables, cov- . Sugar easy; Cuban selling. fee higher; firm foreign markets. CHICAGO, August 13 (#).—Wheat | jeasy; large Russian exports, bearish nd weather reports. Corn easy; crop estimate large Argentine exports. Cat- tle strong to higher. Hogs weak to BONDS ON THE CURB | Thouands 1 Aluminum L"; 5s '48 98 3 Am wih P w 65 40 70 m Roll Mill 4135 '33 mer Seatinz 65 '36 palach_Gas s N 8233222833283 e EEERREREERREREERRSEE 1Birmingh Gas 1Carolina P & L 5 3 Gei | ° B Everybody’s Business } Present Happenings in Cuba Cannot Be Viewed , With Indifference When American Investments Aggregating $1,220,765,000 Is Considered. ke BY DR. MAX WINKLER. Special Dispatch to The Star. NEW YORK, August 13.—America’s stake in Cuba at the begin- ning of this year aggregated $1,220,765,000, equivalent to almost $10 for each man, woman and child resident of the United States, and | exceeding America's foreign investments in any country south of the Rio Grande. It is, therefore, apparent that happenings in the island cannot be viewed with indifference by its north- ern neighbor. Cuba, which has deen in the grip of political upheavals for the past several years, appears to have made up her mind not to be outdone by her neigh- bors. She seems to be on the verge of a| revolution, which may, however, be averted just as it has happened on numerous oc- | casions in the fu{‘ | The bulk of erican investments in Cuba, which amount to about 86 per cent | of the total amount of foreign capital yllced in the island, is represented by nvestments in sugar, the republic's pnn—! cipal stnndgxfi Real estate accounts for | about $125, 000. The capital invested : in real estate may be seriously affected by a bill which has just p: the Cuban House of Representatives and which pro- vides for a two-year moratorium on debt | collection under mungl%e& in the island. A similar amount has n invested in FINANCIAL. R WOOLTRADEPLAS T0 BOLST TEATLE | Special Week to Be Set Aside by Industry to Improve Sales. BY CHAS. P. SHAEFFER, Associnted Press Business Writer. “National Wool week” has been al- lotted & place on America's business calendar to promote greater wool com sciousness and sales within the in- Representatives from all branches of the wool textile trade have been in- vited to meet here next Tuesday to lay plans for conducting Wool week ind otherwise help the industry. meeting will take place at the United States Chamber of Commerce. No date has been set for the week, plans are under way for the cam- paign, which probably will be held this Fall. The meeting was announced as sponsored by Frank E. Pitzpatrick, rep- resentative here of the National Wool- mark ition. Wool has been one of the most le textiles. Sales of the fabric in June have been reported as in excess of last June, with many manufac- turers booking s sufficient amount to insure production for months ahead. Machinery activity has been banks Mor 5s 42 jeral Wat 5125 ‘54 sk Rubber 518 '31 iorida P&L 5s '54. . 58 '36. I Pa 7 ult 8t Util 55 A ‘58 anne_ 65 34 Hood Rubber 51:3 ‘3 lous Gulf G 65 A 43 L&P 4'2s D '78 de Fd 65 A ‘40 | Pow&Lt 85 A '53 1l PowkLt 5s C » wSERSamarnal yFu 228258 3533233233 - e o B E o a lectric Slas *78 t P& L 6s A 2026 At P8 55 78 Nationsl Tea 8¢ & Nebraska Pu $iae 3 Nevada Onlif 85 4New Eng GAE z222) s a1 56 u No Til 4128 P ub 8 PAL 3';5 A '49 g 8 B 5s C Py » Buwa~wsnuwsnaSuanivetuan S { e FEEI A mington S'as A ‘33 89 e H Wat 4138 10 C ds 47 epegung A Calif Ed 5 uth Calif Bd 5s u Calif Gas 4128 ' Southern e 2RID! 2 u f Tilin 4 12 8wift Co 32888822820 g i O W BALTIMORE STOCKS. Bpecial Dispatch to The Star. b BALTIMORK. August 13— Sales STOCKS. » Last sale 20 Arundel Corporaiion . P . 36 140 Baltimere Trust 3C & P Telephoae Balio pfd ial Credit pid.. jat s com. ... e Gas 5% eum pfd A 5 Pirst” National : 10 Manutacturers ¥in Co pid ! 910 181 283, Co. L & Guaranty BT Eubllc utilities, chiefly by the American | Power Corporation and Inter- DR. MAX WINKLER. Telephone Corporation. Forel, nationa! Legality of Regime Questioned. The l;gamy.of the Machado regime has been seriously questioned | al, Cuba’s President during 1913-1921, and remembered by Mario Menoc: in connection with the spectacular rise during his second term in the price of sugar, the heavy influx of foreign, especially American, mestic capital, and the pronounced prosperity in the island. main | tained on'a scale parallel to sales. Con- | sumption of wool in the last six months | has shown an unusually sharp upturn, registering more than seasonal recov- ery since last November and reversing | the downward trend in effect since the | middle of 1930. Bureau of Foreign and Do- Commerce reports wool receipts | at_Boston during June, latest month |for which statistics are available, Prior to the war America’s investments | government adequate for the protection | recorded a seasonal increase over the in Cuba amounted to $220,000,000, while Cuban - American commerce _totaled $206.475,000, of which $75,288,000 rep- resented Cuban purchases in the United States and $131,187,000 American im- ?om from Cuba, giving the latter a avorable balance with the United States of almost $56,000,000. This sum Wwas ) equivalent to more than 29 per cent of America's total investment in the island in 1913. It appears on the basis of these figures that additional American investments in Cuba could be effected without materially increasing the is- land’s burden. Payable in Gold Coin. United States investments abroad, which take the form of fixed income- bearing securities, contain a stipulation to the effect that principal and interest are payable in United States gold coin on the prevailing weight and fineness. Subsequent to the granting of the loan the lender manages to secure all or most _of the gold held by the debtor, but Goes nothing about changing the g‘l;g:hlom of the loan contract. The ower simply must discharge his ob- ligations through a medium which he | 4; does not possess—a very curious situa- tion indeed. Cuba proved no exception to the gen- eral policy pursued by the United States | in respect of debtor countries. A tariff was imposed upon Cuba amounting to 130 per cent of the present price of sugar, a rate difficult to explain, be- cause the United States does not pro- duce, nor does any one seriously expect that she will ever produce, enough sugar to meet the home America's natural source of supply. It is with this in view that American bankers and investors have placed hun- dreds of millions of dollars in the secu- rities of Cuba and her industries. Within the last 18 years American in- vestments in Cuba have increased al- | most six times, somewhat out of propor- tion when compared with the gain dur- ing the same perfod of Cuban-American trade, amounting to less than 5 per cent. United States sales to Cuba in 1930, amounting to $93,561,000. repre- sent an increase as compared with 1913 of more than 24 per cent. while Cuba: exports to_the United States, aggregat- ing $122.039,000, showed a loss of about 7 per cent when compared with pre-war exports. Default Might Be Serious. It may not perhaps be amiss to in- quire whether the framers of the tariff bill realize that some the island's obligations neld by American investors are selling today for less than 60 cents on the dollar, and that a default might entail serious complications to the American Government. ciate the significance of a document known as the Platt amendment, which, by virtue of a treaty between the United | been incorporated | States and Cuba, has by the latter into the constitution? This amendment—adopted, let it be at America’s instance— “‘not to assume or contract any public debt, to pay interest upon | which and to make reasonable sinking fund provisions for the ultimate dis- charge of which the ordinary revenues of the island, after defraying the cur- rent expenses of the government, shall be inadequate.” demand. Cuba is | e | Mi Do they appre- | of property and for discharging the ob- ligations with respect to Cuba. ‘What would Messrs. Hawley and n;,gut in the event that Cuba ault on bonds held by Ameri- can citizens, who may, and in all prob- ability will, point out that they had bought those bonds only and solely beca sions of the Platt ame: ing to which the United States has a certain moral, if not perhaps legal, re- sponsibility as regards the maintenance by Cuba of th service on her contractual obligations? | "In conclusion it may be of interest to present the interpretation of the Platt amendment as furnished by Elihu Root, who ts out that: s intenvention envisaged under the Platt amendment is not synonymous with intermeddling or interference with the affairs of the Cuban government, but the formal action of the Govern- ment of the United States, based upon Jjust and substantial grounds, for the preservation of Cuban independence and the maintenance of a government ade- quate for the protection of life, property and individual liberty, and adequate for the obligations with respect to Cuba imposed by the treaty of Paris on the United States.” (Copyright, 1931, by the North American Newspaper Alliance, Inc.) Chicago Grain By the Associated Press. |selling pressure in wheat late today | strengthened a tendency of September | for purchases ‘frt'm North America estimated at 800,- 00U bushels today in addition to 500,- bought yesterday, largely Canadian to redue | wheat, A |mates of France's ! E | lo e esti- wheat crop was | | WHEAT— | September . | December | Maren . May . High, o S04 p1i4 SEF September . December | Marer | L oATs— September .. December ... May ... | _RYE— September . | December May ... B FEFF ¥ P New Hosiery Feature. NEW YORK, August 13 (#).—Mesh hoslery in the new dark shades will be | featured for Fall to a considerable ex- tent by manufacturers. The new num- | bers just introduced stress lacey effects | for evening wear. Sheer chiffons in high twist finishes are held likely to use they had relied the provi- mnt. accord ratain their status as volume selling | merchan | ise. According to the amendment, the gov- | | ling month and were only sligh !E:m-n\&u&memm{mmw. | The price terri of fine, 1M¢ socoured wmx“fl'% Av- eraged during less than in June last year. ploy- mzuwwhmfiym of & year ago. the level | | | [New York Cotton | | NEW YORK, August 13 (P—An {mmn. advance on trade buying and vaefln.mohdwmmunr- | pool and nervousness over the Farm | Board’s appeal to the Seuth for a re- duction In the size of the crop was fo! ‘La‘wod by partial reactions in cotton y. December contracts, after | to 7.28 at the o) , or 25 cents nel | higher, reacted to 7.13, but the market | later was quiet and fairly steady. At 2 | o'clock, December was around 1716, with the active months | net advances of 13 to 16 points. Futures very steady, 28 to CHICAGO, August 13.—Absence of | Ma: 'TEN COUNTRIES HANDLE WORLD GASOLINE TRADE International trade in gasoline f§ handled almost entirely by 10 coun-. tries. The Unlt!d" mu,no'um g merce Fegera, dominant in group. snd. in | 1930 49 per cent of the /' figure far in f its excess o com) tor. United Kingdom is the world's largest importer of gasoline. This ranks second, its receipts from risen yearly aince per cent 929. the United States | line imports came from the Nether] East Indies. o oy o~ Retail Trade Draggy. | NEW YORK, August 13 (#).—Retall trade tw é:: this week has shown ggy tegdency, factor in the spotty results bteing the h m z:: G b to h;\h:u | has Tresponse | promotions, reports on which in many | instances are definitely below expec- | tations, trade circles in New York re- | port. Comments in¢ that & strong tendency toward drofiping price as the | sole appeal is now gathering headway among retail executives. | | | | | ernment of Cuba further consents that | the United States may exercise the right to intervene for the maintenance of a " FRE BB e SILVER QUOTATIONS. NEW YORK, August 13 (). —Bar sliver quiet, 1a lower at 27%. FREE Lowest Prices in History Retail Soviet stores have been estab- lished in Mukden and Harbin, Man- | uria. From Aug. 12 to Aug. 31, Inclusive Carwash Free With the Purchase of Each Fire- stone High Speed or High Speed Heavy Duty Tire. Carwash Free With the Purchase of Each Pair of Firestone Oldfield Type Tires. Brake Test and Adjust Free With the Purchase of Each Lubri- cation or Oil Change. 3 Don’t Let Rain Stop You—Free Car Wash or Brake Adjust Tickets Good Any Time Within 30 Days After Purchase FIRESTONE SER 13th Street a —Save Now—Buy These High Quality Firestone