Evening Star Newspaper, August 18, 1931, Page 12

A12.. wax CUTINAPPLE PACK WILL AID INDUSTRY Virginia Growers Co-operate in Effort to Keep Inferior " Grades Off Market. Special Dispatch to The 8 WINCHESTER, Va., August 18.— Commercial apple growers of the States which pack their fruit in barrels were responding favorably today to an ap- made by Harry F. Byrd, Winches- ter, president of the Virginia State Horticultural Society, to refrain from paeking the unclassified grade in closed packages this year. Mr. Byrd had received pledges of co- operation from officials of the horti- cultural societies of New York, In- diana, West Virginia and other States and all the directors of the Virginia soclety telegraphed approval of "the plan, The Virginia society expects to conduct the campaign in all States east of the Mississippi River, or in every section of the country where apples are packed in barrels or baskets. Marketing Causes Concern. = “The Government forecast of e apple crop,” sald Mr. Byrd, “is 6,000,000 barrels above the five-year average, or 217,971,000 bushels. In view of ' the conditions existing, not only in Amer- jea, but throughout the apple con- suming markets of the world, the mat- ter of marketing is caising much con- cern to the fruit growers. The increase comes almost entirely from the barrel packing States of the East and the iddle West. b M"Whflr T never personally gave any advice about apple prices, and neither does the Virginia State Horticultural Soclety attempt to advis: growers as to definite prices, yet notwithstanding the discou: factors of the present sit- uation I am convinced that good grade apples will be marketable at a fair profit to the growers, both for the export and domestic markets. In fact, a substan- tial volume of No. 1 apples already have been sold at fair prices. All of us, however, should recognize that in view of the depressed world-wide con- ditions now existing the purchasing er of those Who consume our apples declined. “It would certainly be the part of ‘wisdom to c‘;’:;l‘y offer l::n (‘zxe ;-:gkk:; standard of & when in closed Poc ges. g’:\e Virginia State Horticultural Society, therefore, strongly 5 sts the complete elimination of ail unclassified apples from closed pac] ages.for the current year. In our juds ment this will reduce the crop of com- mercial apples nearly enough to place this year’s crop on the basis of the a erage crop for the past five years. Grades Available. Mr. Byrd sald standard gras available for packing United States Fancy, United States No. 1, United States Commercial, United States Com- bination, United States Hail grade and United States Utility. The Northwest, he said, does not pack an unclassified grade, “It is our firm judgment,” he said, “that nothing lower than the Ttility , which ds _ with the C grade of the Western box, should be offered in closed this year. We are convinced that the packing of grade of ::lmcrlor apples m{‘l not bring any profit growers an will injure a\e market for the better “While we do nct favor the destruc- Ve bocn Capended. we ve , we e that inferior grades of below No. 2 grade this year be fered only fcr those uses for which they are mi&:—mmely, 1{‘" bulk, , OF . Byrd declared that the Virginia State Horticultural Society will campaign in every barrel pro- te to the growers to re- of the unclassi- that “we already sufficient enccuragement to t this ditions now confronting us.” Will Ask Co-operation. Mr. Byrd added that the Virginia So- elety will shortly communicate with all wers of Virginia who have any ntial production and request their individual co-operation in the under- , believing, he said, there will be & whole-hearted and unanimous pledge on the part of the growers to adopt the plan. He said it was not cnly a wise step for the growers to do 50, but at this rticular season a practicil necessity or their own protection. “It will not only add to the profits to be made,” he said, “but will go far toward maintain- ing and znh:.mmf the splendid reputa- mum which Virginia barreled apples now joy. CREDIT PARLEY HELD. MADRID, August 18 (%) —President Alcala Zamora and members of his cabinet today studied the economic sit- uation of the peseta, which was quoted #t 11.68 to the dollar. Director Caravias of the Bank of was understood to have offered a | plan whereby the bank’s gold reserve Would become a guarantee for unre- stricted sales of English pounds at 52 tas. The pound now is quoted at 6.40 pesetas. Other officers of the Bank of Spain opposed the plan as too costly from the Teserve standpoint, but Caravias said | he believed an increased value for the peseta would follow a short flurry of pound buying. DlVIDENDé DECLARED NEW YORK, August 18 (#).— Regular Pay- able. pt. 30 Sept. 30 Sept. 1 Beot. 15 Bept. 30 Oct. Oct Oet Pe- Gompany Rate. riod Adams Express 25 Bo_pt §1.35 Am Brit & Con pf i Am Ei Pow 57 pf 5175 Associates Inv 51 Bept. 14 Oct ot Oct. »t Bept ervative In pf 4dc lels & Pishe: Sirs 2% DY e 1 2 n { 36 ot Truck pf ll.ov\ln" Inv atsor avigs "gs3 as r Loan A pi$1 is Plan Ins 8o e ULl Cum f F2aky ia @®WO® £p © O POOOO O O DOOOOOKD OOO WH OOL OO LOOOL 2 o8 . 3 ENN.T SEY LGENSYS Bept. 1 H Pary 3178 pl..43%e . 18 £ is t Das 1700005 8 Poe st his tme Bl e 32 Q 81 extra Soan 258 .8 o33 FINANCIAL. (Continued From Page ~Prev. 1031 Stock and High. Low. Dividend Rate. 24t 114 Radio-Kelth-Orph A. 9714 60% Reading Rwy (4)... 80% _5 Real Silk Hoslery 9% 5% Itemington-Rand 10% 5. Reo Motor Car(40c). 25% 10 Republic Steel. 54 27 Republic Steel pf. .. 22% 11 Reynolds Metls(11%) 75% 69 Reynolds Tob A (3). 5415 40% Reynolds TobB (3). 6% 1 Richfield Oil. . 10% 3% Rio Grande Ofl. “ 191 Ritter Dent Mfg 1% 15% Rossia Insur (2.20). 42% 24% Royal Dich(m2.2789) 67 38% Safeway Stores (5).. 85 97T% Safeway Strs pf (6). 30s 1081 98 Safeway Strs pf (7).130s 76 15% StL-San Fran pf(6). 1 20% 124 Savage Arm# (1).... 114 4 Schulte Retail Stores 1% % Seaboard Air Line... 20% 10% Seaboard Oil. ... 634 444 Sears Roebuck (27 4% Servel Inc 10 Sharp & Dohma. 4'% Shell Union Oil. 251 Shell Un Ofl pf( 2% Shubert Theat 10% Simmons Co. . 5 Simms Petrole 6% Sinclair Consol C 77 Sinclair Oil pf (8) A% Skelly Oil 10 Skelly Oil pf ww. ... 6 17% Socony-Vacuum 1.60. 128 7% South Port Rico Sug. 6 112% 96% Sou P Rico Sug pf(8) 10 36 Southn Cal Ed (2) 6714 Southn Pacific (6) 25% Southern Rwy (m6). “Bales— Add 00. Hi 45 2 S mel BT a a0 24 5 4 1715 201 4 514 Splezel-Ma 2 147 Stand Biands (1.20). 21 Stand C‘omel Tobacce 55 Stand Gas&F 56 Stand Gas 314 Stand Oil Cal (h2} 997 Stand Oil Exp pf ( 8% Stand Oil of Kan: 30% Stand Ofl NJ (+2 13% Stand Oil 1614 Starrett( 214 Sterling Secur (A).. 8 Stewart Warner.... 261 Stone & Webster (3) 1414 Studebaker Co(1.20). 45% 31 Sun Oil (1) 104% 94 Sun Oil pf (6) 40% 30 Superheater (2%). 15% 117 88% 647 51% 105% 2% 6 34% 5% 21% b4ty 26 Texas Corp (2). Tex Gulf Sulphur Tex Pacific Coal&0il 16 Tex Pacific Land Tr. 66 Thatcher Mg (1.60). 3 Third Nat Inv(msse) 1 Tide Water Asso Ollf 303 Tide Water Aspf(6). 8 5 Tide Wat Oil (80c).. 2 1 Tide WatOll pf (5).. 11 & THE EVENING STAR, WASHINGTON, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. 11.) gh. Low. Close. Close. 14% 18 Tobacco 65 1% 45% 218, 6% Tw Ulen & ( 915 39 Un Union Carb & Stock and Dividend Rate. 5% Timken- 281 Timken Roller B(2). Bales— Add 00. High. Detroit Axle % Products. .. 6% Transamerica (40c). 615 Tri-Contl Corp. . 281 Trico Products(213). n City Rap Tran. 0 (1.80). ... Ell Fisher (4). 2.60). Union Oil of Cal (2). Union Pacific (10). Union Pacific pt (4). 1'n Tank Car (1.60) Unit Aircraft. ... Tnit Aircraft pf (3). Unit Cigar Stores 4 Unit Corp (75¢) Unit Corp pf (3). U S & Forn Secur Unit Fruit (4). Unit Gas&Im(1.20) U S Hoftman. ... 178 Indus Alcohol T8 Le: 7§ Leat TS Leat ;8 Pipe er... .’ her (A ity & Fary (2). 10 Rubber......... 4 US Ru U S Steel Corpn (4). bber 1stpf... 2 510 USSteel pf(7)..... 3 United Stores pf (4) 28 19% 231 Vanadiu 31 6% Inited Stores (A)... iv Leaf Tob (3).. Util P&L(A) ef2 m Corp 71% 381 Vulcan Detin (4 Wabash Waldorf S; K. .. . (1%).. Walworth Co. Warner Brother: Warner Quinlan Warren Bros (2 Warren Fa&Pipe( Wessol : Wést Pa Western Western Western Westing Westin Westvaco White M I M Uni hse A B(2) EI&Mfg (4) 237 2 ot Wilcox Oil & Gas. Willys-Overland. Wiison & Co. . Woolworth (2.40) Worthington Pump 66% Wrigley 150 29 14 1 5% Yellow Truck 145 Youngs Spring (3 Zonite Prod Corp (1) 1% 70% 45% 8% % 1T 11% (Wm) (4).. 17% 24 1% Sales of Stocks on New York Exchange. 300,000 12:00 Noon 1,300,000 2:10 P.M... 700,000 1,400,000 Dividend rates as given in the above table are the annual cash 3 | payments based on the latest quarterly or haif-yearly deci 1Plus 4% 114 3 8 % | no regular rate. | in special preferred stock n Plus 5% in stock. p Plus 2%% in stock. ation. in stock. fPlus 9% . APaid Payable in stock. e Payable in cash h Plus 2% in stock. § Plus 50 cents m Paid this year— CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS Associated Press: News Trend. Automobile production for the week ended August 15 totaled 50,751 cars and trucks, which compares with 49,691 in the previous week and 71,102 in the the | corresponding 1930 week, according to Cram’s automotive reports. It is en- couraging to note that the Automobile Daily News reports that dealers' in- ventories of new cars are the lowest in some years, the total as of August 1 being: estimated at 268,000 cars, com- mod with 288,000 cars on July 1 and ,000 cars on August 1, 1930. The Companies. Al American Arch Co—Fifty cents quar- terly dividend; previously paid 75 cents. Armstrong Cork common share earn- ings six months to June 30 71 cents, | vs. 62 cents, Associated Telephone Utilities gross up 11.2 per cent, net before depreciation up 3.6 per cent; 12 months’ gross up | 21.1 per cent, net before depreciation | up 11.3 per cent. Columbia Gas & Electric common share earnings, 12 months to June 30, $1.55 vs. $2.06. | Graham-Paige Motors—Operations re- sumed on four-day week basls. Greyhound Corporation, subsidiary Greyhound Management Co., first half ;gfi earnings $736,000 vs. deficit $248,- Ludlum Steel net income, six months [to June 30, $23.488; equal to 46 cents a preferred share vs. deficit $95,422. National Battery net income, year | ended June 30, $488,987 vs. $480.526; | reported Montgomery-V'ard and West- {ern Auto Supply contracts renewed for | five and four years, respectively; $20.- | 000,000 reported involved. Sinclair_Consolidated Ol subsidiary, Sinclair Oil & Gas, posts 25 cents a | barrel price for East Texas crude. | Cincinnati Gas & Electric gross in- come available for interest and divi- dends, three months ended June 30 (including Union Gas & Electric Co.), $1,924.375. Fashion Park Associates 7 months net sales not wholly owned, off 16.5 per cent. International Raflways of Central charges of 19.8 per cent, seven months off 29.4 per cent Mickelberry’s Food Products buys Sullivan Packing _business _excluding buildings, land and other fixed assets. Miller (I.) & Sons reported operating on 5-day week general salaries from 10 to 20 per cent. Republic Steel operating at 35 per cent of capacity in Youngstown district and open hearth steel production was | above 50 per . nia crude with exception of corning crude marked up 5 cents a barrel Tidewater Associated Oil subsidiary. | Tidewater Pipe Co. Ltd. increases i Bradford and Alleghany crude prices 5 | cents a barrel Worthington Pump & Machinery President denies rumors of change in control of company. | Anaconda Copper Mining subsidiary. | American Brass Co. geis contract for most of brass and copper products, ex- clusive of cable a City development Anaconda_ Wire & Cable gets con- tract for 7,800,000 feet of copper wire for Radio City. | Manufacturers'’ Finance $1.75 second preferred share earnings six months to | June 30, 49 cents, vs. $1.83. American Rolling Mills deficit six months to June 30, $503,546, vs. net in- come of $1,646,150, equal to 96 cents |* BupianStit 88 preferred share sarn | n preferred sh - |ings year ended May 31, $2, vs. $20.35. | Keisey-Hayes Wheel common share | earnings six months ended June 30, 68 | cents, vs. $2.24. American Type Founders continu- ance of $2 quarterly dividend rate an- ticipated; earnings reported materially below dividend requirements. Bahia tion deficit year ended .,V'\un 30 $263,613, vs. net income $16,- 1. Byron Jackson Co. deficit six months to June 30 $44,756, vs. net income m".l“. equal to @61.14 a common . Shoe Stores 87 six months (o NEW YORK, August 18—The fol-| lowing is & summary of important cor- | poration news prepared by the Standard | Statistics Co., Inc, New York, for the | Missouri-Kansas-Texas Railroad cuts | pe t | South Pemn Ofl all grades Pennsylva- wire, for Ridio | BY CARLTON A. SHIVELY, | Special Dispatch to The Star. | | NEW YORK, August 18.—The report- | ed early visit of Montagu Norman, go | ernor of the Bank of England, to this | country is stirring up more than usual | interest in Wall Street. Gov. Norman | | has been here a number of times in his |long career as head of the Bank of | | England, and the governors of the Fed- | eral Reserve Bank of New York have |made a few return visits. There was | a time when a visit by the head of one | important central reserve bank to an- other was fraught with gra y but the increasing spirit of co-operation since the war has removed much of the secrecy and most of the special signifi- cance from these visits. | Former Visit Recalled. | Even with improved transoceanic tel- | earnings three months ended June 30 | ephone service supplementing the cables | and radio, it is impossible to have com- plete harmony on bank policy without | persons] consulation from time to' time. | Wall Street in the past has sometimes exercised jtself with imagining discus- | | sions at these meetings which probably | | were wide of the mark. On the other | hand, some very definite steps have at | | times followed visits of central bank | | heads. Last year Gov. Norman paid a | visit to the Federal Reserve Bank au- | thorities, as he had done in 1920. In 1929, it may be recalled, after giving up hope for central bank action as he | wished to stop speculation in the stock | market, Gov. Norman took the initia- tive in putting up the Bank of Eng- land’s discount rate. He hoped that he might thereby prevent the further suc- tion of funds to the New York market, | but he was not very successful. | Last Summer and Autumn the Bank |of England and the Pederal Reserve | Bauks acted in harmony in cutting dis- | count rates, and whereas traditionally the Bank of England had maiatained a | {lower rate than the reserve banks, the | New York institution cut under the | Bank of England and still meintains a | discount rate much lower than that of |London. In London the prime motive™ | much harassed British trad a desire to help business over here evident. | spur to the bond market. | | _ As the Federal Reserve Bank of New | York pointed out in its annual review | of 1930 operations. “in a period of de- clining business activity the function | of a bank of issue becomes, us a rule negative and finds expression in the | Business Notes | A slight slowing up of the pace of | Fall buying activities was agsin noted in the New York wholesale merchandise markets at the beginning of tae week. indicating & ccntinuance of the trend reported last week. Mail orders were | again numercus. but they were for smaller quantities. The numbe- of buy- ers in the market was said to ba below | expectations for this period. | Home wares markets swung into full | activity in New York with the opening of the new week. with the arival of scores | {'of buyers seeking all types of small fur- | | nishings and noveities Tor early Fall | sales events. Selll nts, comment- | ing on the mm..‘?«! activity, complain- ed that oply sales merchandise offered at new low prices is moving in quantity. 8o far the regular Fall stocks of kitchen utensiles, crockery and chinaware, nov- elty furniture and decorative fisms have only been sampled, they said, and buy- ers will not indicate wi thay will be ready to make larger commitments.. | Manufacturers featuring trcpical wor- | steds have discarded the ides of “offi- cial ings” for 1932 lines and the | major | now Is-wn houses ha: | price pressure from c | tureres who have been sampling the new lines, and in some instances reductions of 213 cents from the been asked, te new lines are 12 to 15 per cvent below \lul semson’s qu:tations. f » A recent tendency among tributors to imsist upon exclasive na- tional selling products they handie his become a seri- the American rights on the Americen St WALL STREET AWAITS VISIT 'BY BANK OF ENGLAND GOVERNOR | Changes in Rate Policies May Follow Con- ferences Between British and American Financial Heads—Other Parleys. removal of obstacles to the free use of credit rather than the exercise of a positive influence upon the credit and business situation.” However, the easy money policy of 1830 did in the first half of the year foster a better bond market, which it was hoped would help domestic trade and, by permitting a re- sumption of foreign loans, increase our foreign trade as well. These objects were moved further away by what the Teserve bank called a “series of unto- ward events,” being the drought and political and economic disturbances abroad. Discount Rates. The New York bank cut its discount rate last year five times, bringing it down to 2 per cent, and this year has made one cut to 1!, per cent, the lowest rate for any central bank ever put into effect. Bank of Englang followed, but got no lower than 21, per cent. This summer, threatened with exhaustion of its gold reserves, the Bank of England had to reverse and two successive rises have restored the discount rate to 41, per cent. Meanwhile the Bank of England lost approximately $160,000.000 in gold, rincipally to Prance. This outflow now as virtually stopped and the pound sterling has recovered, but the higher discount rate had to be supplemented by a_banking credit of 8250%0‘000 at the New York Federal Reserve Bank and the Bank of France. *This credit, it is understood, was drawn upon to some extent at the start, but is largely intact. Governor Norman and Governor Ha rison, of the New York -Federal Re- serve Bank, will have no difficulty in finding interesting topics of conversa- tion this summer. British credit is still strong, but the position of British in- dustry is difficult and the help extended to Germany and other European na- tions in trouble has added to the strain on the Bank of England as a result of the withdrawal of French balances. Recently the French have been turning their short-term investments in this market into deposits at the Federal Re- excluding controlled companies |of lower rates was a stimulation to pserve Bank and earmarked gold on a | large scale, Whether this means ulti- mate withdrawal of gold to Paris re- | America July income applicable to fixed | But perhaps the principal mcve was a Mmains to be seen. (Copyright. 1931.) NEW YORK BANK STOCKS REGAIN RECENT LOSSES Special Dispatch to The Star. NEW YORK, August 18 —New York City bank stocks during the past week regained the loss of the preceding week, actording to the Dollar-Index figures compiled by Hoit, Rose & Tros- | Mer = ter. Based upon August 15 prices, 16 leading bank and trust company shares were quoted at 18.1 times known earn- ings, exactly the same as on August 1, |3ec" and’ compared with 17.6 on August 8. Earnings averaged 5.51 per cent, against 568 per cent the previous week and market times the book value averaged 1.34, against 1.30. The yield now stands at 474 per cent. against 4.89 per cent a week ago. The current yield com- pares with a yvield of 5.31 per cent on June 2, 1931, the low point for the year to date, SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co) Allis-Chalmers Co. Ss 1937..... 1023, American Metal 5z 1934, 4 American Tel & Tel Sias ibd3 110 Baltimors & Ohio 4igs 1933.... 97 Batavian® Pet. 1942. 93% Bell Tel 58 1967, ... 106%4 e L 4s 1934, .. ity of the leading procucers are | Chi : : [dhmggie Republic foreign dis- | S , | considerably more active than on Mon- ' | able rail securities and are disposed = !«| Northern Pacific 4s, Pere Marquette 2 | Rate_Maturi D. C, INACTVE TRADING German Group Proves Ex- ception to Trend-—Rail List Weak. BY F. H. RICHARDSON. | Special Dispatch to The Star. NEW YORK., August 18.—Bonds were ;| irregularly lower today, the only group to show any strength being the Ger- man dollar descriptions. Trading was | day, but still at a moderate pace. The German group, which opened |lower following a downturn in Paris jand London, later marked up fairly | substantial gains_as continental mar- | kets recovered. The strengta of stocks in early trading here was a contribut- ing factor. Imprgvement in the stock market was not sufficient, however, to revive rail- road bonds. Many new lows for the year and some for I periods were made. A disturbing feature of this movement was liquidation based on the theory that raiflroad issues have a long drop ahead of them because of heavy selling by banks. Commission houses were of the opinion today, however, | that little bank liquidation is now in progress. Large institutions have long ago cleared their portfolios of question- to { hold those they have left for a return to more normal price levels. | Declines to new low levels, or to prev- {jous low levels, occurred i Big Four | general 4s, Delaware & Hudson re- funding 4s, Erie A 4s, Illinois Central 4%s, Nickel Plate, 4125, New Haven 4!3s, 4,5, Southern Railway 6',s, Wabash 4':s and Western Maryland 4s. All of these bonds, while not of the highest class, are of a type usually well re- garded as long-term invesiments and well secured. On the other hand there were firm spots even in the railroad list. Atchison general 4s, Boston & Maine 5s, Cana- Ifliln Pacific 4'2s, Chesapeake Corpora- tion 5s, Missouri-Pacific A 5s, Erle 5s, and Chicago, Burlington & Quincy gen- eral 4s were fractionally better. Indus- | trials fluctuated with stocks. Oil com- | mny issues like Texas Cordoraiion s, 3hell Union Oil 55 and obligzticns of the | Standard Ol corcerns were strone, Apart from the strength in the Ger- {mans, with a gain of over a point in Young plan 555 and sales of Dawes Reparations 7s above 90, the foreign department was heavy. Brazlians, in spite of reports that sufficient funds are on hand already for September 1 debt service, declined in moderately active trading. Argentine €s dropped a point. Chilean issues were further dis- }Lurbed by reports that a class war is Imminent in that country. —_— Washington Stock Exchange SALES. | Potomac Electric Consolidated 55— $1,000 at 1057, w;;?mmn Rwy. & Elec. 45—$1,000 at | Capital Traction Co.—10 at 37. Washington Rwy. & Elec. pfd.—10 at 9915, 10 8 9915 District National Securities pfd.—7 at 68. AFTER CALL. | 2otomac Electric 6% pid.—3 at 113. | Washington Rwy. & Elec. pfd.—1 at 99. Bid and Asked Prices. BONDS. FUBLIC UTILITY. Amer. Tel. & Tel. 4145 '39. | Am. Tei. & Tel. ctl. ir. 85 Pot. R. R 35 | & C. & P. Tel. of Capital’ Traction City & Suburba: Georgetown Ga: Potomac Ele s Potomac Elec. 6s 1983.. 00 .. Wash, & Mt Vernon cti. 2 Washington Gas 4%as.... -1 100% Washington Gas 8s. . ‘ash. Gas ries A Wash. Gas 6s. series B ... Wash. Rwy. & Elec. 4s MISCELLANEOUS. Barber & Ro: Chevy Chase Club 3las. Columbia_Country Cluo 523 D. C. Paper Mig 6s... W. M. Coid Storage bs.. STOCKS. PUBLIC UTILITY. Amer. Tel. & Tel. (9) .17 Capital Traction Co. i4) 36% Weshington Gas Lisht Co. (18). 118 N. & W. Steam] ..o I Pot. Elec. Power 6% pid... .. Pot. Blec. Power 8ia% pfd Wash. Rwy. & El. com. (T) Wash. Rwy. & Bl pfd. (5).. NATIONAL BANK. R R 5s. Capital (14) AKEL, Columbia (12} Commercial (stamped) (i0) District (8) Metropolitan (14} Riggs (138) Second _(9e) Washington (13} : TRUST COMPANY. Amer. Secur. & Tr. Co. (18) Continental Trust (& .... . Natl Sav. & Tr. (131) Prince Georges Bk. & Tr. (6) Union Trust (8s). ... Wash. Loan & Trust (14).. SAVINGS BANK. Bank of Bethesda (61) m. & Savings (10)... | Bast’ Washington t12) | Potomac ~ (10 | Sec. Bav. & Com’ Bi. i Beventh Street (12)...... | United states (30) Wash. Mechanics (20) FIRE INSURANCE. a®..... 10) s ¢ 388 Eaxls » o8 Sax 2 3382 ] Corcoran National B! s (8 Union (18) TITLE INSURANCE. Columbia (6h) Real Estate (6h) MISCELLANEOUS, Barber & Ross. Inc., Col. Band &uo'un'ldp(;?nl‘h : Sec" bl 82 s ¥ E 3 = D. C. Paper Dist.’ Natl. . Bromo-Selz, ‘'A’ T2l Btorage pid. () r. Co. com. Fed-Am. Co. ptd. (§ SRR U TR [ 3 2328.85282588 2o T & Wh. . The Carpel Corp. (?;n;p W. Mech. M1 com. Wash. Med. ild Cor (7 Wood: d & rop com. (1,20 Woodward & Lothrop pfd. (7). *Ex dividend. 53% extra. bBooks closed. L nasc extr B2t ext 1% extra. - il extra. NEW YORK BANK STOCKS NEW YORK, August 13 (#)—Over- | the-counter market: " | i 4% 8% E { sngltans > iaaii#fi!, ¥ = » susd - b, “sousfs - ¥ &1 [ 3 {rviny a2y i TREASURY CERTIFICATES. (Reported by J. & W. Sellgman & Co.) TUESDAY, AUGUST 18, "] [BONDS ARE LOWER | (o= e B | Beriin Cy E1 6 1931. UNITED STATES. Sales. Lib 3%4m 32-47.. 18 L1st 438 32-47 27 56 108 9 108 9 11211 11211 Saies. High. Abitibi P&P 5853, 11 Am Chain ; Am F P 55 2030 AmIGChsl Am Metal 5% Am N Gas 63 Am Wat Wks 6= Argentine May '61. Argentine §s Oc' Argentine 6s A’ Argentine 65 B '38. Arm & Co 434739, Arm Del 5148 '43. Assoc Oil 653 Atchison gn 4s '95. Atchiscy 4%8 48, AU C L 1st 45’52, At) Ref db 58°37. Australia 435 '56 A Austria 7s . Austria 78 ‘57 ctfs. B&O4s'48 g B&O4Y 3 . B&Ocv4ls'so.. B & O st 5s 48, B & O rf 4895 B & O 5s D 2000 B&O6s'S - B&OSwdvin'so, B & O Toledo 45’63, Ban & Aroos 48'51. Bk of Chile 6% '5' Bk Chile 6% 61. ., Batav Pet 4158 42, Belgium 55 Belgium 6%s 49, Belgium 7s '55 Belglum 78 '56 Bell Tel Pa 58 B 48 Bell Tell Pa 58 C'60 B Ind Loan C 65 '46 Bolivia Ts Bolivia 78 Bolivia 8x* Bos & Me 53 an Brazil 6158 " Brazil 6148 '27.. Brazil Brazil $s 41 Bremen 7s '3 Bk Ed gn A 5 Bkiyn Elev 615 Bkiyn Man 65 Bklyn Un 1st 58 Budapest 6s 62, Buenos A 6861 Py Bush Ter con 58 ‘55 Bush T Bldg 55'60.. Calif Packing 58 "40 anada 4 '60. ‘anada 4158 '3 Canada 58 ‘2. Can Nat 4= 54. Can Nat 4358 57 Can Nat 475 68 Can Nat 43855, . Can Nat 58 Oct '§9. Can Nor 6% 5 db '46 N e o » o T = 1 o L LT e R 118y 112% 83 men 4% C&O043%sB'9%5 CB&Q4%s'T CB&Q I14v 3% 549 CB&Q 111 dv 4549 Chi Grt West 48’59, avaSaaans CM&StP 4¥%s'8 C M StP&P 58°75. . NW 6345 '36. M RI & Prf 4s 34 ChiRIcv 4%s'60. ChiRT&P 4% C TH&SE in 58 '60. Chi Un Sta 4145 '63, Chi Un St 58’4 C& W Ind cn 48’53, C& W Ind 5%s 62, Chile Chile Cop db 5= '47. Christiana s 54 CCCASUL 4148 Clev Term 4138 '17. ™ PET - e Con Pwr Jap 6%s. . Con Pow Japan 7 Copenhag 58 '52. Cuba 5%8'45, ..... Cuba RR rf 7% ‘36 Cuba Nor 5% 8 4%, . Czecho 88 '51., Czecho 98’52 Del Pwr&L 44871, Del & Hud rf 45 '34. Del & Hud 5%s'37. Denmark 414862, . Denmark 5145 '65. . DRG&W 6s'78 Det E GER4 Y% ¥ Det Kdison rf 5 Dodge Br cl 68 *4, Donner St 7s 42, Duquesne 43 s Dutch East I Mar. . Dutch Bast I 6847, Dutch East I E Erie 1st con 45’96, . Erie con 4% A '53. .. Fasmauwpabh 28oan momun Fiat Ts war. Finland 5 | NY NH&H 4145767, 40, Bl Ii1 Bell Tell 5s'56. . 01 Cent 4% '66..... 1 1 CCSILAN 58 A.. & Inland St 4%4s A'78 18 Inland St 434 s Int Rap Tr bs Int Rap Tr Int Rap Tr Int Rap Tr Int & Gr Nor 68 °52. 1 Int Hydro Ei 82 '44. 14 Int M Co b8 ret'd1.. 18 Int Match 5% '47... 25 Int Pap b A *47. Int Pap 68 ‘55 IntT&T4%4s'52.. 2 Int T&T cv 415539, 38 Int T&T58°55.... 43 Italy 7s'51. . 261 Italy Pub S 78 °62.. Japanese 515 '§5. Japanese 6158 '54. . Kan CF1S&M 436, Kan City Sou 5a'50., 4 2 H 3 Kan G&F 43 Karstadt 65 ‘43 . Kresge Found 6236 Kreug & Toll 58'59. Lac G StL5s'34. .. Laclede 5145 C'53. . Lake Shore 314 '87 Lautaro Nit 6s '54. Leh Val cv 4= 2003. Lig & Myers 7s'44.. Loew's 6% ex w '41. Long 18 rf 4549 Long Is1db 5 ' Lorillard 5a '51 Lorillard 5%s " La & Ark 5s. Lou G & El 58 L& N uni 4340, L&N 41382003, ... L&NbsB2003.... McKes & R 5% 860, Manh Ry 1st 4590, Market St 7s 40, Midvale Stl 5% '36. . Milan 615 Mi] El Ry&Lt s M StP&SSM cn 45 MSP&SSM 51878, MK &T 1st 490, . MK&'T prIn 5. Mo Pag gn 48 Mo Pac 55 A " Mo Pac 58 Mo Pac b8 Mo Pac rf 58’81 Montevideo 78°52. . Mor&Co 1st 418’39 Nat Dairy 5% 84 i Netherlands 6s '72. N Eng T 1st 58 '52.., Nw S Wales 5s 5’ NYCgn3yn'e? N Y Cent 4598 N Y Centdb 4s'34.. N Y Cent 4145 2013, NY Cnrf4is 2013, NYCrf im 55 2013, N Y Cent db 6s '35. NYC LS cl3%s'93 NY C&StL 414878, NYC&StL5148A'74. NY C&St L 6532, . e o wa NY Nia Sh Md 5% '50. Nord 615 50 : Norf South 55 ‘61 Nor & Wn ev s No Am Co 58’6 Nor Am Ed 5s " Nor Am Ed 6 Nor Am E 6%s '63. Nor O T & L 68 '47. Nor Pac 3x 2047, Nor Pac 4s Nor Pacr 1 68 2047. Nor St Pw 55 A '41. Norway 5563 ¥ 5% "85 Norway s '43. Norway 68’44, Norway 6s '52. Oreg-Wash 4s '61 Orient dev 5 Orient dev. e Pac T&T 18t 58'37. 3.1 o RonlZonena aaSnns fafaadlasxncan SaBak French 73%s '41 Gen Baking 5%s 40 Gen Motors 6337 , Gen P Sv 514839 Gen St Cas 533849, Fenoln oaamebmmmn German Bank German 7s rep " Ger Gen El 78 '45... (oodrich cv 68 '45,. Good 18t 615847 (joodyr Rub 5’ GrandTr sf db 65'16 (Grand Trunk 78’44, Grt Nor § ", 1 12 ] 8 3 i3rt Norgn 7 Greek 65 63 Gulf Mobile 58 3¢ Hoe & Co 5‘:’!‘347. 9 99 105% 105% 838 98% | Sou P&Or 4148 77, 80% | Tenn EI P 65 A "47. 63 Penn bs 64, Penn gen 55 '68 Penn 613% '38 Penn P& 4358 '§1. Penn O&D 418 7 Pere Mar 4135 '80 Pere M 18t 58 '54. Phila Co 58 Phila Elec 45°71.., Phil & Read 65 '49. . Philllp Pet 53 '39. Pillsb ¥ M 65 '43... PCC&SHL 414877, . Poland 6s e Poland 7s '47. . Poland 8550 Port Gn Kl 43 5'60. Pos Tel & C 58'53. . Pressed St C 55'33 . Prussia 652 . Public Serv 48 71 Pub Sv G 41867 Pure Ol 533837, Queensland 6’47 Queensiand 75 '41. Read gn 435 A '97 Reading 418 B '9 Rem R 535 A '47 Rhinelbe 7s 4 Rnine West Rhine West » RorsmwmnRendonc na Rhine West 7s '50. . Rich Oil Cal 65 '44. Rio de Jan 635553, R Gr Do Sul 8 ' Rio Gr W 1st 4539, Rome 6%s '52 Roy D 4545 ww... StL IM R&G 45'33.. St L&SF in 45 A '50 StL&SF 4% StL&SF p15s B 50 StLS W 1st 4s'89. StP&KCS L4t Sao Pau 78'40 re Saxon P'W 6%#'51. 9 Seab A L cv 6545 Seine is’4; Serhs-Cr-S1 bs-Cr-S1 Shell Un O11 53 '47. Sheil Un Oil 5849 Sinclair Oil § 4 8'3 Sine O Tscv A '37. Sine Cr O 5%s'35.. Pal mananenalEBa . ® GepRa~Beld Sou Pac 434881 Sou Ry gn 45'56. .. Sou Ry 5894, Spu Ry 6% '56. StOIIN J 584 StOINY 44s Sug Es Or Sweden 5145’5 Swiss 538 4l Talwan EP 5%s'71 PR T b -] Ter As St L 48’53 w38unFana 83 FINANCIAL. 3 107% 106% 106% 0 64 634 64 72 4N 4% 691y 691y 53 Wire Direct to The Star Office INUS. ARE LARGE {Russia Acceunts for Nearly 75 Per Cent of Farm Implement Sales. Almost 75 per cent of American exe hmo{mlmmfihl”lllfi 513 | Utah P & L 5544 gone to Soviet Russia, it was disclosed today in an analysis of foreign trade statistics prepared by Moody's Investors” Service. During:the first six months of this year the survey finds that Russia took from the United States agricultural machinery valued at $37,216,000, or 743 pex cent of our entire foreign shipments, while Canada and Argentina, our best foreign customers in years, together purchased less than 10 per cent of the total. Moody's characterizes these figures as “nothing less than amaszing™ As “startling evidence that Russia has, temporarily at least, assumed com dominance as a foreign outlet plete for our Afth most '3 ports from the United States, and en- abled her to retain her position as our sixth best foreign customer for all merchandise. “The near exclusion of Canada and con! ] tries accounted for more than half our exports, but since that time they have steadily dwindled in significance. “This situation may of course be merely temporary and the industrial ex- of Russia may later result in smaller purchases of American and all . Exports of cultural its in 1930 3.1 per cent of all American ents abroad and were exceeded in value only by cotton, automobiles, gasoline and Izaf tobacco.” R INVESTMENT TRUSTS NEW YORK, August 18 (#).—Over- the-counter market. - i > e !"'éiim b - ™ 11 ;5! 85,732 Ini inits. nnl & it o, Pt it 1 # ) ; 938: % 258, i EELS iz 233 - 33 333 433 g0 va cFs R 3. 8 S5 ST R 237 EETS ehiittins b ik ELEEFEE A % " g5 jaaa S35 e Utd King 5%: U'S Rub bat 58 '47.. Ud St W e34sA'51.. Uruguay 6s '60. Uruguay ‘: Uruguay 8: . R FEN - Util Pw 55 '59 ww. . Util Pow 5%8'47. Vanadium St 5841 3 83 228 SReuansandy gsas a2 - ._l 22 2 ) 5 tifzigesgosieife L L § % &s - & 2 * sa2ede mao 2222