Evening Star Newspaper, August 19, 1931, Page 14

‘A-14 wwx FINANCIAL, THE EVENING STAR, WASHINGTON. D. (. WEDNESDAY. AUGUST 19, 1931 FINANCIAL. RAIL BONDS WEAK | NEW YORK STOCK EXCHANGE | [tk o Gtane || (o sww sonx BONDS mocxsscmnve] INCREASE IN SALES Received by Private Wire Direct t» The Star Office, NEW YORK, August 19 (#)—Stocks, Received by Private Wire Direct te The Star Office UNITED STATES. Sales. . Close. IN ARP SEL'J SRR O T S s irregular; olls resume advances. Bonds, (Sales are in 31,000.) L1 men e 5o 56, 2% Yore 1090 T07% n (Continued From 5) | ~Prev. 1931 ock a ales— Swles, High. Low. Close. |1 C: 4 g it | High. Low Dividend Rate. Add 00. High. Low. Close. irregular; ralls and forelgns sag. Curb.|, . ... 40 (7 7 10218 10310 1:.';10!"“«::::;‘?‘ - i :;: ::: u - e | Tnit 1 i lar; Aluminum Co, t: " Prey. 1931 Stock and Sales. Prev. 44% Unit Corp pf (3) 19 51 50a 51 rregular; ul Teacts sharp- | 1''\or 1w 32-47 6 103 2 10231 108 2! 11 C . Hish. Low. Dividend Rate. Add 00. High. Low. Close. Close. | 37'; 25% Unit Gas&Im (1 . 29% 291 Iy. Foreign exchanges, irregular: Reichs- | 1. 4th 43« 33-38 41 104 28 104 26 104 27 T Comt $os8. :: ::: :::: BN o - 1 t6rs- Gonth t Nt T R oo ] (s 8h| 108 881 Unit Gae&m pf 1064 1061 bank strengthened. Cotton, lower: weak | 1’ . 20 101 17 10117 101 17| 11 CCSILAN § W %t M . bk 614 Sinclair Consol 3 ] Y 2% Tn 2 7 . Forn Secnr. .. ™ W % | cables, favorabie wealner. Sugar, easy J L... 3102 27 102 27 102 27 | Inland St ¢ 4 nvestors Continue to Unload | ,; nelalr Ofi bt .10 2 %0~ 80" 90" 88| % : Secptr. 1 7en L1 a1 oo oot cemana. Coffe. sesty. Bura | | 3 3102 27 10227 102 27 | Tnland 8¢ 43 . s susiGovernment Observers ‘See % ¥ . “ T 2 . K 3 s | pean buying. 783 26 102 30 102 27 102 30 loniadi E Snider I : o 1% , : 4 6 6 6 P Carrier Issues on Sag S : o e i s el 811212 1211 11212 inc e e ks, 25 e a8 e | OPtimistic Prospect in Move- Realty & Imp(1) 5% |easy; fine weather, bearish European Sales. Hi s | . 1 h ¥ I : . ) 7 uth Port Rico Sug 8 19 T 13 1 7832 iti uthn Cal £ (2)... 5 43 43 apnl 17 Rubber 1t pf 2 sas, Nebraska: liquidation. September. |Adams Exp ds'48 . 1 o Gr Nor €n-5: S s 8 e n T4 T U S Smig & Ref (1). 5 Cattle, irregular. Hoge, steady to Jower, | Alleghany Cp ds 44 26 i 5 Ak B S eenain Southern Rwy (m6). 26 26 2% 831k U S Steel Coj . 293 9 gor 4 BY F. H. RICHARDSON. e 118 100w | a8 oo b i e Allegheny 58 '50. . 564 56% ™ % " BY CHARLES P. SHAEFFER, 1 1 3 E g Bl . Low. Close. | 10t RaD Tr 6a°32, S 9 Southn Pacific (6) ald(AG)1st pf(7) S Steel pf (7)... 3 K 3 3 " é @pecial Dispatch to The Star. 3 Sparks Withing (1). T st AP 7 BONDS ON THE CURB Allis-Chalm 58 '37. 108 108 |1 e 8% 8% 8% iness Writer. NEW YORK, August 10.—Extrem® Spicer Mfg ;R s A% 9 | nited Stores (A) . .. 514 MARKET. Am Chain 68'33. SR Bt S s T Government economists see a legiti- weakness in railroad bonds overshad-, and Brands (1.20), 19% 19% | Am F P 58 2030 7% 72 x:zvr-fl" o 27% mate reason for optimism in the rela- owed all other developments in the in- bhis Stand Gas&El (3%2). 12 6 64 634 niv Leaf Tob (3).. 3 A Salesén DOMESTIC BONDS. Am1GChb6is 49, i e |tively increased volume of commodity vestment market todzy. W5 Pt (4). 56 59% 9% niv Pipe & Rad. . thousands +_ .o HIED Low. Close | Am Intl 515849 821 TR o sales brought out by the decline in While on Monday and Tuesday Wall 9 pr(6). 2 s 901: 60 9% U'niv Pipe & Rad pr6¢ e e Am Metal 538°3 i T T er 66 Straet adopted the theory that the brnk- Stand Gas&Elpf (7). 1 24, 1028 1 31 194 Util PRI(A) e12.15. & Aluminum Lid 55 48 97, 91 [Am N Gas 1pn'42. 25 18% et Sl ik ing situetion In Toledo had started the E Stand Oi1 Cal (h215) 196 411, 3 e ) - . ¥ i 8 Am Cumwih Pw 65 '40 . Am S&R 1st G847, 1021, sl dumping of investment class rail secuii- 1d Ol of K 14% 19 | 20 SN SNl ant Carp . .. - 36 Amer G & E 55 2028 g Ref 6% 104% aly 78 °51. . ties, the volume and quality of the ligui- 305 Stand Ol NJ (42 3 p 2 714 89N VaCaroChempf (1) 2 59 $Amer G & Pow & 39 86 " | oy 4% 825 128 italy Pub S is 5 dation today could not be explained in| 26 % Stand 01 N Y (1.60). 71% 38% Vulcan Detin (4) 90s 5 E 5 3 Amer Rad 4'3s 4% AmT&T 5565, ... 109 Japanese 51, 65 . that way. It was apparent that many( I 215 Sterling Secur (A) . 26 Wabash X1, ....... 9% 9 9 § Amer Roll M 41 2 Am T&T ¢ tebs '46. 107% Japanese 61,5 54 long-term holders of carrier bonds had 3 Sterling Sec cv pf( 2 E 303, 3 51 9 Wabash R (A).... 9 1 Abbalac Gas 6 B v Am T&T 5s 81’60 109 Jugosl Bok 78 67, been sufficiently convinced of the seri- 1 ewart Warner. . | 21 Waldorf Sys (1%).. 2 2 18 Appalach "Fow g5 Am T&T 5% 8" ;;o-. ousnéss of the railroad situation to sell Y 4 Stone & Webste; 9 5 Walworth Co....... 5 [T B . [AmW W SO % 102k e their holdings. And of course some| 2 Studebaker (‘o (1,2 5 iz Warner Brothers BAmo G & F 4t : Lo - S Kan City Ter 45'60. holders were still cashing s>curities be- 3 Sun O1 (1) » b 39w 3 Warner Bros pf 3.8 2 2 31 Ass0 G & E 4125 49 C Am Wr ln?l.- 47.. 49 Kan G&E 4 15a 80 cause their funds are tied up in bank . Superhente : : . Warnst@ubtion. ... 2§ a3 At Oas & B3 o Sov i = Karstadt 6s 43 failures, Superior Ofl. . s Warren Bros (2... 9 Associat Rayon 55 '30 Argentine 51’62, 63 Kend 535548 w: No other explanation would do for | _15% 11 weets of Amer (1 3 15 5 5 5 20 Warren Fd&Pipe(2 2 3 2 3 2 5 Argentine May '61. 7 Kreug & Toll 58'59, the decline of & bond such as Morris & | "7, Telautograph (140) 6 Wesson Of1&Sno 3 3 A qul £ [AdemuRRERTOAE. Y 4 Essex 315, guaranteed by the Dela-| 36, 18 TexasCorp (2) : Wesson O&Sno pf(4) [ 5 y 4 3 y :r:w:::e ::(A) 9 }::if:fl!t 1..’5:(‘{((‘... -y 3 ot West Pa Elec A (7).. 13 B Can 5 55 107 7 rgentine 6s A '57. > E“inhg:.:;‘u’;";oge T . | ook st € b 35 West Pa Pwr pf (8). 3 Bell Tel Gan 8 © ° Argentine 65 B '33. Lacieds 5128 D 60 commedities_other than farm producis e - 65 213 Tex Pacific Coal&0il 2 5 West Pa Pwr pf (1) 3 Birming'm E! 4'a5 8 Arm & Co 4% 839 5 Lake Sho 15897 and foods. The latest index of the de- ing about 4'4 per cent to maturity.| 17y, Tex Pacific Land Tr. 13 B e Ty KA b, g g i Ry | Arm Del 5158 '43 3 Lautare Nit 6s'5¢. 23 partment puts the present level of raw The 4155 of the same road. which are 91, Thatcher Mfg (1.60). 3 9 9 9 by it o A ah AQm 55 A 53 ww 881 | Atchison gn 45 95.. 12 Leh Val cv 48 2003, 27 791, | materials 35 per cent below the peak covered by a similar cuurnsnot:;; l?‘:t nl;lu % The Fair (2.40)... ki 8 w eivrrr: \fl..r\ land. . 4Cap Adm 5s ‘53 xw | | Atchis cv 415 '48, 3 Leh Val 5% 2000, year in 1929, whereas finished goods are 5 w}nu g‘d Tuesda t] uched 9 “ Thermoid Co 2 . 3 S8 Weates TR E) - o B LA R 3 Al C L 1st 48 Long isl ab 58 '3 less by only 24 per cent. new lows today. = 9 Tide Water Asso Oil8 % 8 Westinghse A B(2). 24 : 25 : : K Loew's 6% ex w41, While producers of raw materials suf- "Railroad earnings published today | 65 38 ‘Tide Water As pf(6) : 5 i LA g , DAL BREN. irs 8 “onE I8k TT 4849 . 951y | fer from drastically curtailed purchas- were sufficiently unfavorable to add to de Wat Ol pf ( Wekty e 18 g ‘s b fdb5s'3 Long 1sl db b ing wer, the seller of the finished 3 Ha 41y Lorillard 58’5 produtt markets his waves at a reduced the pessimistic sentiment. Canadian | 5 Timken Roller B(2). bisie Dy e - ol - National. government owned, showed 3% Tobacco Products... 118 3 <t i o s C 5e | Austratia 6s " b | Lorillard 53 s " 7 {price and lowered profit, but at the o 5 | 54 a decline of 28 to 30 per cent in the 9% Tobacco Prod A 195 16 - LTI RIUEE I o« S - 2 Ohie_Ry cod ‘5s 2027 & Australia 58" La& ArkGs seme time obtains wi first seven months. Pere Marquette re- S Transamerioa (400). ¢ ‘ $0llive Overisnn 1w % m | soie: B Y 4 e Pty : Tou A ba i liytig, the Srountwork for Seesstioe ported Jul); S of sz.zu.sfls-. u:sgnlslt' Tri-Contl Cor 4 § % Worthington Pamp., 12 45 5 175 Citles Service 5 i Austria Lyons 6834 rate profits when trade conditions im- Sier charges. ‘of $308.355, agaiust & | 2 B T 1 e T 3y, 13y | B0% 66% Wrigley (Wm) (4).. 2 733 o Tenioa s ' o H P Mo R BY vEs 3 P"This fact is noted to a slight surplus of $321,563 last year. For the £ - 2 30 21 Yale&Towne (Z)... 3 23% 3 7 Git Serv Pow 81es - ot = A Vi | Manh-Ry Jat (090 3 Iby economists of the Commerce Do first seven months the same road re- | 15% 5% Yeilow Truck., 32 8 2 2 Gleve Ter Blax & 141 3 b A :;‘,:‘;‘.‘}::{‘““- ae partment. who pointed out that foreign 4 : rabee 65 3 a ported a deficit, after charges, ‘of 81 29 Under 3 3 310|360 31 Doutte Pred Cerp (1) 1% % 1% 3 Gomwh Ed 4'3x D ‘31 9 9 8915 | Midvale 8t) £s 3 trade of the United States during the 060,353, against a surplus of $1,396,. p B oy P 5 5 5 p & 33 Comwith Edi 45 F o MIUE Ry & L, 55 ' as, | focond quarter of the yvear illustrates 985 in 1930. nion Ol of-Cal ( 4 Sales of Stocks on New York Exchange. 26 Con Gas Balto 4s 9 b b B F e e ot the point. Exports during the quarter Baltimore & Ohio 41:s of 1933, a| s e i g S s 10:30 AM......... 200000 32:00 Noon....... 600,000 2on G Bal 5ian & 32 1073] 10 S : Mil Bl Ry&Lt 8 '71 SO & e ot Jhe st highly regarded bond, soid off & point | “po* 'Raw [nion Pacif ut (1) : Hadthe- 30 P 1 700,000 z:10 Pl 900,000 LR T e BAOPAWY da’ Y 4| M SLPASEM ba u ooy LT T L 10 & new low. Chesapeake & Ohio B 4145, In Pank Car (1.60). . : Dividend rates as siven in the above table are the annual cash | 5 SN Foy diaf | aledo 4 MSPESEMS %x'31. quarter, but the volume of trade was a prime security, dropped fractionally | ; Tnit Alreraft 9 3 DLl Lo e ntan Ay My S 2 Continen Ot 5%as A Bk of Chile 61§ MK & T 15t 4390, . off only 20 per cent. On the other 1o a new low. Chicago & NO“thfl"‘ Init Afreraft pf (3). year-—no regular rate. b Pavable in stock. e Pavable in cash { oashy Fhe Sl Bk Chile 63561, .. 2 MK&T prin 5=A'62. 3 |hand, imports. figured in dollars and ern 4'%s equaled their previous low. 7 Init Cigar § 3 tock. {Plus 8% in stock. hPlus 2% in stock. {Plus 50 cents SDet © ans be B 20 4 | Batav Pet 4158 '42 Mo Pac gn 4s " cents, dropped 36.1 per cent, but the Rock Island refunding 4s were off 2 Sy T8 . % | I Tpecial preferred slock. K Piis 2% in stock., m Paid this vear— | § Det C Gas b B ‘50, 104 bl L T % Yolume was off only 16 -y 9 ul : s 5% in stock. P Plus 2'a% in stock rde 6123 elgium 65 '5. 5 0 Pac b8 A "6 per cent. points and at a new 1931 ottom. So < R N N T | indilov s vy ; 4 | Beigium 635540 Mo Pac 55 F '77. While earning reports of corporations were Rock Island convertible 4 16 Bee B & g Belgium 7 9 Mo Pac 55 G '78. are not available at the Commerce De- New ln;‘u Z;" nndlso mldel :y ygu.‘ & 5;:2"‘” g:gss.s,’:fiugg 8 Belgium 7856 ‘ rag-Spsbi ot Ay ‘plrtmem - nt, fragmentary reports reaching souri-Pacific and general 4s, New 3 . 3 ire O&R 5'zs '4: Bell Tel Pa 58 B'48 Mo Pac 515 A 49 3 e department from private business York Central 445, Pennsylvania 4'.s, Evel'yh()dy Baltimore Markets Y e O 1 8 | Bell Tell Pa 5n ¢ MoraCo 18t 43 538 enterprises showed the volume of sal-s nited Stores pf (4) price levels. The movement In commodity prices and in the prices of raw materials has necessitated in this country an era of merchandising which operates on the primary motive of sales volume, with mcenetary profits relegated to sec- ondary consideration ¥ Extent of Decline. Raw material prices have declined to a far greater extent than the dollar value of the finished product, statistics of the Labor Department for the last year showing the former group with a Cecline of 25 per cent, as against a drop of 19 per cent for all commodities, and with a decline of 16 per cent for all rman Benlons coe «S0-Rlaan—nnn~ Kan City Sou 3s'50 » Southern Pacific 41:s, Southern R: 1 Pisk Rubber »'3s '31. 22 & 23 B Ind Loan C 6846 » . o in more favorable proportion than na- way 6155, Wabash B 5s and 4'zs, and 1 Eoha P 23 #1ve | Beth SUrr5e 4 2 4eias. 33 tlonal commerce. | g Western Maryland 4s. i ecial Dis e Star tineau Pow 55 ‘38 Bpecial Dispatch to The Sta 4 Gattesn Bow i 36 .. . BALTIMORE. Md., August 19.—Po- 3Gen Bronze 6s 40 e o < Securities Market Agitated Over Basle Conference. | | iatoes. varrel, 1752.00; sweet potatoes. | 3 Son MtpAce 5238 Washington Stock Exchange : e Chih bkt s Wi | o e B ] e S L H 3 8 d 15 Goeb B 6 . s Adjustment Is Confidently Expected—Encour- boets, per 100, 2.5083.00; cabbage, bushel, | 1 Grand Trip 6135 76 Pot. Elec. 5'2% pfd.—1 at 110, agement Found in Toledo Bank Situation 40a50; carrots, per 100, 3.00a3.50; corn, 15 Guit Oil Pa 55 '37 Y28 AFTER CALL. & Tole s per dosen, 3.00a3.50; cucumbers, ham- | '3 Guit 8 uh 3 444 ik N Y Cent db 45 ‘44 {the prevailing low state of raw mate- Pot. Elec. 514% pld.—10 at 110 ; | per, 25a40; eggplants, hamper, 40a50; | i Houst SRE G A 8 58 o Bk Kd gn A 849, 3 il b A Price Index. ‘Wash. R. & K. 45—8$1,000 2t 93%4. » . | 2111 Pow & Lt bs C '38 “ o BY DR. MAX WINKLER. lettuce, per crate, 1.75a7.00; lima beans, | 7 [l Fow & : fan 6 ‘68 NYC of tm b 20 | In the statistics that follow the nsull UG 65 B 40 | BKiyn Un 15t 58 T . 3 wholesale price decline of representative Cap. Tract. 55—5$1,000 at 83% . Special Di . : |, 8lInter Pw Sec s E '57 = wash, 88 Bo-5500 at 101%. spatch to The Star |40a75; okra, bushel, 1.00a2.00; peppers, | 6 Inier Py Sec is E 87 o b bt Y : e Sty Pldd at 98%. 10 at NEW YORK, August 19.—A certain degree of irregularity which hamper, 20a30; onions, per 100 pounds. | 18 Internta Bover 38 ‘37 | Bt Gen 14 % . NICLScl s gommodity groups during the last year 987 has been in evidence in the New York securities markets for the past 1.75a2.00; peas, per hamper, 2.00a2.25; | 20 Inves Co 5 A '4 0 IBR& Pitt 416857, NY C:;""‘“f ',; "'n“t e g M Ao o4 Pot. Elec. 5% pfd.—3 at 110. two days may be attributed in part to the uncertainty of the out- squash, per bushel, 50a70; tomatoes, | 4 Iowa-Neb L&P s Bush Ter con bs '55 NT Camts “-31 :"m“‘u““,‘r of 1030 85 fgo ng UNLISTED DEPARTMENT. A come of the 1 conference, and to apprehension over the interior bushel, 23a40: apples. bushel. 25a1.00; i sy A0y T s 3512 | Canada ¢s 4 N Y Fdisn 58 B 44 . : sai Chapin-Sacks 8% pfd—22 at 106%. lpanking situation in the United States. blackberries, per quart, 7al0; cantal| 7Jer Gen P&l 55 B '4 ; pada 4358 36, ... 28 : NY Rl 10t et {81, sommogtues Bid and Asked Prices. With regard to the Basel meeting, an adjustment is confidently loupesper crate, 25al.50. IR e 4| Canada §8°52...... 3 NY ELH&P 4849 Jarm products BONDS. looked for in the not distant future. Re- Dairy Market. | 1Eentuoky i ss ' 61 101% 1015 1011 | Can Nat Xy 4% e'56 28 ‘ NY ELH&P bs 48 FUBLIC UTILITY. ports circulated yesterday that an agree- | poultry,” alive—Chickens, young, 20a 7 Koppers G & C 55 '41 90% 85, NY NH&H 4356, Metals At E 7 ment had been reached, were somewhat 30: oid rens, 19a25; Leghorns, 14al8: | S S v B I 69 2 NY NH&H 413567, 88 }:{, -~ Amer. Tei, & Telga, 4128, 0. 13 ¢ premature. Toosters, 14a15; ducks, 14a20; pigeons, | % lLenien P S 65 2036 104' 5 2 NYNH&H cit 65'40. | Miscenancons N N T o e In the matter of the interior banking | Pair, 20a25; guinea fowls, pair, 40a75. | I Lexington Util s 52 ; | NYNH&EH cd 6248 111 | Raw materiats. 0210 Ana. & Potomee Guar. 5s..... R 3 7 situation, it is worth remembering that _ Eggs—Receipts, 1.377 cases; current P B i i *rn ) 1 A:,V O&W ist 4a'32. 2 ‘The Commerce Department sees nothe c'.‘.‘;fl' det of Va b5 e 4 the effect upon the larger financial insti- ?cezném, 17a18; hennery, whites, firsts, | o3 Massachy, Gas s ¢an Nor 7 % ~\,¥¥:s‘i:’c 68 '65 2% | ing in the situation to indicate imme- R A Eitions 1 Lhe Bast amd upon the SSOMOMIS | 28 .. Good ang taney, croamery.| | M Bk T3 it B Shres A ST T Ry X Elez. i situation in the country in general, is rela- ' 26a31; ladles, 19a20; process, 21a2Z; I Yo Gt b Bty Can Pac 472560 1 NY W&B 439 '46 78% | supply. On the other hand, they ex- tively unimportant. The reason for.this store packed, 15a16. | 1Mid West UL 85 - v Can Pac s ctfs 44, Nia Sh Md 5% 931, | pect the restoration of commodity price ll;a ? tg;itac':.th;st m;le1 vl:nkene"dl po.ulmog Live Stock Market. 20 minn £ & Mohe / Y Can Pac bs '54 No Am Co 55 61 ’ equilibrium will be dependent primarily of the io banks which recently closes i % 1 Miss Pow & Lt 55 96 | CarClin & O 65’52, Nor Am Ed 5 on a further reduction in finished had been generally known for the past two | Cattle<Réceipts, 100 head: light sup- | 1M River £ 32 3] Senan . ; Nor Am E 3% | Droduets' prices. *The price differential I rket steady. Cent Pac 4x'49... . NorO T & L 6 '47. s finished months, tnroug‘l)x their requirement that nglm4"ziu {o RN | Narenganseit 3 Cent Pac 5188, o ity twe::.flnw mt;-ncn.}n ;enumm oo i ) | eers- 3 d ] 3 - . s 1 f D c 33 2047, .. manufactures neve: Barber & Ross, Inc, 6las. ... . g’evyzlxdlg“:lélmr %flys SR‘:““ of intention | to choice, 7.25a8.25; medium to good,| 3 R 04' 104 Cert-td db 5158 '48. Nor Pac 48 '97. .. closed, they point out, attributable to Ghevs . Chage Glub tas” " : 4 N ;h X 'ufp" o & || 6:50a7.25; fair to medium. 5.7586.50; | b g Cher Corp 55 '47. .. Nor Pac 4 % 20. many invariables entering into produc- TP ettt - Sl | iy evertheless, the situation In general| jipq, “to' fair, 5.2525.75; common to| ! s '3 96 ! %08 Nor Pac 58 D 2047 .. tion of finished goods. e Bulls—Choice to prime, none; | 5 New Eng G&E B9l - s, Nor 'w b A 41, | by the banks is bound to suffer. to choice, 4.50a5.00; medium to good. By =.m GEE 3 48 2 . 9 Norway b 9‘! 12 D'VlDENDS DECLARED ""“".}"""-.‘"- > F 3 An encouraging note on the Toledo 400a450; fair to medium. 3.50a4.00: | “fXe% ERE Bow 33 45 e 2 -:_a:::yi f; RS 55 A P _ : situation comes from A L. Miller, presi- | plain le [, 3208330 commen 1o ¢ §3 KA P01 B o et R NEW YORK, Avgust 19 (9)— Iain, 3.00a3.25 Washington Gas Light Co. (18). DR. MAX WINKLER. dent of the Willys-Overland Co., which Plain, 3. . | '3 Niag_Falis Pow 6: 08's | Chi Ind&Lou 6566, N 6752 Extr M B B n has plants in the Toledo district. Mr.| Sowe=Crolce to prime, nont: S00¢ 3No Con Gy sies A 48 39 30 CM&StP 4 ! y ;)";” " e i . . pav. Hidrs ot ' It ” . r o L 4 i 3 n i35 A M BIP&P re Short L 5s gtd. 5 Con Rate. riod. able. record. = 3 | hl‘-xme{ vLu of the opinion that the position of the banks will be righted 4002450. fair fo medium, 3.50a4.00: | 3:3: g‘w T . : rl;l;ll(!l A et s “':L. i oS ™ b W s | shortly. plain to fair, 250a3.50; common to| ) Nor Stat Pow 41 61 CRIENW 4355 2037, Orlent dev 3u'38. 10 941, 95 | guoaner WA) Pen Sbe . Sev. 15 Ben. d Chinese Loans. lain, 1.50a2. 2 No Sta Pw " 2 v ATIONAL BANK. r : | plain. 150a2.50. i o Sta Pw 655 ‘33 &n 102 | g 5 Orient dev 6s'53... 3 ' Capital tu-" ey 5 The latest move in 2iding the farmer by bringing about a rise ~ Heifers—Choice to prime, none; good | 13 Ohio Edison, 55 60... 1 Chie s ‘v:’:r:“n‘f 7 Pac G&E 55 42 s b M e umbla_(12) Y4 t in wheat prices, is a proposal to sell wheat to China on long-term | to choice, 6.50a7.00; medium to good.| 9 Okla Gas & El 8 50 “hi & NW 613836 Pac T&T 1st 58 '37. 1 5350 pt A....875c Q Due at this time. (R dmmaiind A 2 | credits. Although the move to go to the aid of the millions of Chinese 6.00a6.50; fair to medium, 5.5026.00. | §Eacific G 4128 50 414 Chi RI&D gn 45 88, 28 Paris-Ly M 68 2 s T T 3 ced. 1 Bolivia a 58 N mxmml;t.;' in the department said olivia 78’69 v - ere coul no direct comparison be- { Bolivia 8547 b i o R tween companies in diverse linos ’;t Bost & Me 43,% ‘61, 12 b HIN T RN B 3 trade, but that those industrics which Bos &Me 52 '67. ... Nw S Wales 58’57 depended on raw materials for a major Brasil 626 o PR e o | portion of their manufactured products Brazil 6138 5 N Y Cent 4598 | undoubtedly profited to some extent by §3e8Eoes T s88s @ ; o Amer, Nar. B, & 17 i) !affected by the floods in the Yangtze Valley is commendable, the loan 52,"9“ o ‘"‘l""j"m;‘l;‘iv —ay eI Chi R1& Prf 4534 ¥ Paris-Ly M 78 '58 I, Ebeoin {1 OB A |idea is not especially appealing, largely because it is meaningless. s;:,,; 1.0003.00. Tambs, 4.0088.75 S 2 3 t Chi Rl1cv4l;s'60. 3 Penn4%sD'81.... 3 g A g 14 Musesatiian’ (1) i 30 | To call it a gift would be more accurate. Of the three Chinese “"goo. "Receipts, 1,000 head: light 2 Pactiic Pup St 5s 98 9" | St e et “ e i < 5; 9 Eavrds Dini’ Bus 80 nd (9e) . io [long-term loans sold to American investors—the Hukuang RailWay | suppiy: market lower: lights, 7.10a7.95; | 18 Pa Cen PSL Siis 11 Chi Un Sta 58 B ' 5 Pean 43863 ‘ Hetassx Ol o &al Ashington (13)...........c.oe | bonds, the Continental and Commercial Bank loan and the Pacific heavies, 6.50a7.65; medium, 7.70a7.95 1Penn Dk & W 68 Chi Un Sta 615863 6 116 | Peinin'el.. Dea....... u TRUST COMPA! Development loan—every one is in default with respect to both in- | roughs. 4.00a5.10; light pigs, 7.25a7.50; | e i C& W Ind §%s 62, 104 | Penn gen 5s'68.. URgerwHiing & Amer. Secur. & Tr. Co. (15)..... 3 terest and sinking fund. | plgs, 7.50a7.75 1Pa Ohio P&L 5'as 2 | Chile 65 '60 288, | Penn 615536 FUSHOW . ... Mo o a4 T (% ; i g will be resumed in the very near future, | Calves—Receipts, 50 head: light sup- | 2 Btop G L & C 42 2 F | Chile €761 ; 39 29| Penn P&L 43 : Regular. Woolworth Shares. and the default cleared up. ply; market steady; calves, 3.5009.50. . - Chile 65 '6%. - - 58 | Pere Mar 43 Amer Surety........51 Bl Frune fo o a8 Relative strength in the shares of | Afec savert i § ative stren 'es o H o P 4 P, i k. s Brazil's Iron Mines. | Hay and Grain Prices. O S 3 iy} Jecw Mot Buhs | Do pf LI ash. Loan & Trust (14) e, ? SAVINGS BANK | Woolworth even when ine general mas- | o\, been wondering why the Nie- | Wheat—No. 2 red Winter, cxport, no COC&StL 48 E'17 6 Teru 6s e 150 nk of Bethesda (61). . ss | ket eases off is apparently explained by | mover report on Brazil contained n | quotations; No. 2 red Winter, garlicky 35 & Clev Term 413 37, 0 Peru 78 '59... | ust Teta 138 m. & savings (10)) 038 .. a statement made by Herbert T. Par- | reference to the possibilities in the | spot. domestic, 50%; August, 50%; Sep- s By i R e 18 Clev Term 5 106% | Phita co 55 | Bo Bt e omac ¢10) R 5 73 | sons, president of the company. Last country's enormously rich Itabira iron ' tember, 517; ub Gas 65 ‘45 A B . 4 [ Cologne 615 i 7! 57'% . Phila Eiec 48 '71 | Butler Wai' 1 pf 5178 Bav. & Cam K. (1410 40 | month was the third this year which | mines. Their commercialization under | Comn—No. 2 vellow, domestic, 65a66 79 10114 Colomb 6s Jan '61. g 45 | PER S Read €8 "4 : |Capada Ir Pars. il Orired states (301 : showed ah increase over the like period | proper management could prove tre- | cob corn, 3.25a335 per barrel Wash. Mechanics (301, L att year. By September 1 the com- mendously profitable to foreign capital Oats—No. 2 white, domestic, 31a31'% s SRR should be ahead of Jast year, as enterprising and far-seeing enough to No. 3, 3023015, . I S ‘CF. o ... far as sales are concerned undertake it. It should also prove high- ~ Rye—Nearby. 40a45 R p Pottaa e g e D+ t c ag.." Mr. Parsons added that the increased | ly beneficlal to Brazil Hay—Receipts, none. General hay u Callf Edis bs '5 X E cou 5861, 9 9 Poland 8550 Ginn Wholessie Gro.$3 R |20 & turnover of inventory, together with| Americans attempted it at one time | muarket is quiet. Receipts ample and | 150U CAlC Gas 4t g Com Inves 5138 '48., 9 y ; O Union (15 % |lower prices at which the company’s under the leadership of Percival Farqu- | outward movement slow. Competition | 1 Southw GAE bs A ‘41 o8 3, | CCMd st et 5ag0. 35, 5 | orane "Co 8 1 TITLE INSURANCE. buyers are now obtaining merchandise, har. pioneer of railway construction in | of pasturage making itself felt. Fair to 5 8tand Gas & E 65 ° y Con G NY 415851, 2 | Groeker McEiw'n. 5150 Cofumbia (6h).... & 10% has resulted in & gain in the margin of | Latin America. It is rumored that M. | good timothy and clover mixed hay| 2, Stand GAE ct & 33101 [Con G N Y 5345, 25 Prague 7358 '52. ... | BB emade o W 3atse g TR 0| profit over last year Farquhar will tackle the project again | (old) ranges from 16.00 to 20.00 per ton {Shand Gt K B0 a8 | Con PwrJap 634s.. "3 L B : Camewell Ca Bt 31,30 . MISCELIANEOUS. s and will endeavor to reorganize the | Between seasons now and sifuation very 23 Standard PeL 85 j | Con Pow Japan 7s. 9 rassin 65 g Ineome’ anrs €ar 33izc BoEank EErave pra il a8 2 i 1 8l C0” 58 ab wi_ 101a i o -e 18 Public Serv 4 Kehaba Sugar. Co. 30¢ Do The gyrations of Worthington Pump 000,000, 3¢ . 5 Cuba blgs 45 5 C Paper Mg pid < ! e Straw—No. 1 _white. 9.00a9.50 per 1Tenn Elec Pow 55 % 1S s L] - Pub Sv G 4% Kimberly Clark . 62':c E; Natl. Sec. pfd (1) 1 sharss, which have been star perform- | (Copyright. 1931 by North American News- ton; No. 1 oats, 9.00a1000 per ton. 2 Tenn Pub Serv Ss Cuba R R 58 5 Pub nGou:‘w 2% Bliei a 51,50 Ped ChiR1& P 45852 Penn gn 4% 8 '65. 0c Li10e o o0 £R2D 233, REos 2228 . 855 2 g, & s » e Colomb 68’61 Oct.. 13 46 1839 Central Maine Pw Colon O} 63 '33 i | pecasin st 5 4 Poland £3 '40. R Fa8%8 Selz @ ers in the New York market. have been paper Alliance, Inc.) 8 Tex City Gas 5¢ ‘48 6 63 uba RR rf Tl ‘36 iy . o cel 13 Texas Elec 55 "60 wi 100 " MeCenan (W) A.200 .00 23 | possible because of the relatively small T Thermola Co 68 34, s s Del Pwr&L 4%s 71 Queensiand €5 ‘¢ RE & Mol 77 pf 31.75 : | Roating supply. Additional reasons have C | 79 e » Queensiand 7541 &L 86 't 11 e Maadyse T ignt. e i reporied that CHICAGO LIVE STOCK MARKET ~ A.T. & T.DIVIDEND . | #fncled &6 - Del & Hud r 4s'34. ; ot ek A et Mer. Tr. & Stge. com. (10) . i - v ° N s 2 Unit P&L Sizs 59 1 Denmark 4% 862, 3 Read gn 438 A 97, 13 Merrimae Hat.. e e o 4 A Western group has been trying to CHICAGO, August 19 (#) (United 21 Ui LtkRy Sias 9012 9931 | Denmark : Reading 4138 B ' m?:l,gv'w_. cte’ Mergenthale: t 77 |acquire control of the company b siates Department of Agriculture).— NEW YORK, August 19 (%) 7,‘""{,_} 2Uni Lt&Rv €5 A 52 Denmark 65 ‘42 Read Jer Cn 48’51, NS oy Natl Mige & i SR res in_the cpen-market § United P&L s 78 s 2 3 tes Drus * pt ; e 2‘;2:‘5,“;:;;“;:“\“4 * ‘"B(ilkn”',’f’"p,,,m,m Hogs, 17,000 hegd; including 2,000 head can Telephone & Telegraph Co. direc- | 1 Unit Pub Ser 85 A ‘42 D&RGrends Rem R 5% A '¢ Nw_ Ene GAE Asin Beturlty Storues 134 | According 1o pany. control has mot direct: slow: ullevenly. 10a25 lower on | tors today declered the regular quarter-| j§ £ Rub Gt 32 ] h . L oo oo . B i Pl v Ret & Wb, Corp 38 | Changed, mor 1s 1t likeiy to change. 240 pounds ‘down: others and packing 1y dividend of $2.25 a share. payable | S Rib 8128 ‘38 it s b obiction New Eng Tel & ‘Tel e Carpel Corp. (2 <) sows, steady to 10 lower; 170-210 October 15 to stockholders of record 5 U S Rubber 65 33 50 ' 90 et £ GER4Y8'61. 3 v Fepare Te o) B pounds. 7.00a7.25; top, 7.25: 220-300 | September 19 i k: 358 W Mech. Mige, o 18! - L | Mr Belknap gave as reasons the Yll"vl h PAL 4'.% "44 9 9 7 Det Edison rf 52'49, Rhine West 7 . Do. pt . Wash. Med Bide. C ] i1 | that the two classes of preferred stock Van Swerin €5 '35 ww 50 Deutsche Bk 6x " Rich O11 Cal i Northw Uil HESESEE D.BBUSE RoOnRRU.8Ny. <o EHEgEses = ewos Dodge Br cl 640, 3 314 | Rlo de Jan 6 . O'Conr & Mofft A3’ Woodward & Lothron com. ( -|ave the only votinn shares and that | Pounds. 6.00a7.10: pigs. 5.25a6.00: pack- /A BAP 55 A Do. pr pf. Duquesne 415867 . Riode Jan 8x'46 3 Old Line Life Ins Woodward & Lothrop pid, (1 7 Mhey are 0 cloely held that any ef- Ing sows. 4.00a5.25 ~ Light lght. good pprATL, BUYERS ACTIVE. | i ta n a w . *Ex dividen 3 : it orice | and choice, 140-160 ds, 6.40a7.00 5 4 : e P forts to buy would result in sha:p pric pouny uggesn 0 105 : e dan B4 - g e o light weight, 160-200 pounds, 6.85a7.25. NEW YORK. August 19 (. —-Men et 4 Rio Gr W ele 4848, E amve B tr ' J medium weight, 200-250 pounds, 6.60a. clothing and furnishings for eerly Sep- v . & LR TR y g il o B T H RN g Salarles Reduced. . heavy weight, 350-350 pounds, tember promotional events were out- | § W 8 A ST 2 1 s RERE RN 4 | panindon i 0 ke i : | Owing to low prices for wheat and 54036.85; packing sows. medium and | standing in the orders placed by retail East C Sug Tis Rrher X -3 - . Jtant tendemcy to hold up a good, 275-500 pounds, 4.00a540; | buyers during the week. with the FORRIGN !‘?' 8. Brie 1st con 4s "9 | StL IM R&G 4533 91 |Penn Tobacco A SHORT-TERM SECURITIES. ‘;:r‘sr";‘rt 'of the grain movement so slaughter pigs. good and choice, 100- volume of business slightly in excess I AS e i B B Erie con 4= A % lg:ll.-::;;r; e 8 P Ut Hold cum bf.33.71 K 5 (Reported by J. & W. el & Co.! ssential to the Missouri-Kansas-Texas 130 pounds. 5.2526.35. of last week. resident offices reported 4 Bogot M BY 75 G0 50 50 jLrieconvisB g e ;z;fi';o:d. ‘a reduction in salaries of some | Cattle, 13.000 head; calves, 2500 These ssles will start shortly and be | 8 Buen Air Pr 7ias 47 38 | Erie gen4s i !s:lx:::!vrfln- A L R o Alli-Ohatmers 02,3 .5 1800 employes was eff>cted, ranging head: strictly grain fed steers and | carried through the first two weeks of SRR G0 5 0 B 03 | Erecv s Setwe : (T Toho i Pw Ta'53.. 2 100% 1004 1004 e ah 2Danish Con 5ius 38 10172 101% SRS % iican Metal Sz 1 £ h 5 : S 5 lean Tel %0 per cent. The manage- vearlings steady to strong; others September. Strong emphasis was placed 6 Danisn Cons S8 53 2 B 3 ‘ % Ohio 41s from 10 I eon hoping that the loss in steady to 25 lower; 10.25 paid for long | on suits to retail at §22.50, with many |San A& A Pds'43. a3y | Sa 5t 11 84% vian Pet. Corp 4'as 194 ment had been hopi §Ronuh Qoo B B o 3 Sae Fae Teiems 3574 | Tokio El Lt 6833 4 i Tei, of Caneda 8x 1087, % feight due to general busipess condi- | yearlings ; high on crop: best stores ss=king lower priced ranges, such | § Donsis B st e 1 . tere o8 | e e+ S birie lifornia Pet. Corp. 5'us 1938 tions might be offset by larger grain| weighty 985 medium weights. ' as $16. e 1 Ercole Mare 6%s s e it 5 81. 10 57 | irn Pac rf 45 5008+ B O il & % 1033 i On e, failing which sevings in | 10.00: she stock weak to 25 lower. other .-—- 3 Eur K1 Cp €22 8 68 66 . e O Fotapsoes £ 70 ern R. 55 2 cl o v < Y, . o 8 s 3 3 %;-n Rock jsiand 45 193¢ L Other directions had to be resorted to. | classes mostly steady. Slaughter cattle Cash Total Gains. 13 Ger Gons Mun, 65 - o e B 30 1% it Dex R ade. 00DDOO © HOOOODD. WDOODOD XDOZZELD00DL WOOOO SO O OOD aw ® Bevarauiaealhh Covner- Co. 8 194 4 end vealers—Steer, good and choice 13 Glsieral G 53 Fram {7 ! e | ULl King 53887 nver & Ko Grande 411 )48 . 1| British Government lssues. 600-900 pounds, 850a10.25; 900-1,100 NEW YORK, August 19 (# —Clement | )} Jlam ES&U S0 € French 1843 syt B ¥ 10613 | 11’8 Rub 1stas ‘47 §':r'{u:‘|°kxf§?«'\'fm%’6“ G 197 30 19 | e recession in British government | pounds. £.50a10.25; 1.100-1-300 pounds, O. Mininger. president of the Electric £ Tiai Sup B s A ‘63 430 French 3 3 Serba-cr-81 84 74% | Unit S8 Cop 6 eral PE] 31 1939 Bt | e TeceO b ted fo the inten- 8.25a1000; 1,300a1500 pounds. 8.25a | Auto Co. of Toledo, said today the com- | 7 Rie de Jan @' 3o 2 s el Un Ol 50 <4 U St W 615 AT I SRR R B | e ey e Donald sdministration to | 10.00; common and medium, 600-1,300 | pany's cash totals $2.200.000. compared | { Euhr, Hous, €55, 9 " ot e - : Shell Un Oll 5s°49. 2% | Urugnay 65 ‘60 Srand Trank ol Canags 65 1036 1030 207 | Hon o He v cquilibrium, through | pounds, 47588.25; heifers. good and | with approximately $1.000.000 December PR 2E 5 B ovmhaiy 9 9 Shinyetsu 645852, B8 | UtanPa L snit mble Ol 51y 1932 LA e various other measures. | choice, 5508850 pounds. 7.50a9.75; |1 last, and that only & very small per-| 3 Stmnes 7 46 x S Sinclair 011 6 % 5°38 92 | Ut Pw bs 39w, Batoat ol gl - | A W proposed tax of 1 p°r | common and medium, 3.35a750; cows. | centage of these funds is In Toledo| 2T\, ®) Bas, 46w German 53as ‘65 & Sisc O tecv A 3T, 96 | 10l Pow 5 %8 4 gl Bty "”"3’“ 35 1882 1% | cent cn the wcome derived from BR0d | €00 RO R b Tow citier and b7 full f the bank| BoNew ool Toiante rman BX 8538 Sine 1 ba e, 1o Nersfug ist a4z, " 1 78 e cipi- | and medium, 4.25; low cutter and| “We were fullv aware of . B Ger C X : ug 1st 75 '42. ew York Chi & Bt L. 85 1833 g | \htmnt~b?.l‘glwurlflfl ‘This precip ware O he Mankl i When teies Ger Cen BX 68°80 J ety Oif s 35, o By ot 1§| i 3 som nd the belief that cutter, 2.00a3.25; bulls (yearlings ex. | situation in Toled: der C X 68 " S e | ;s'-fifm hotders i “dispose of their in- | cluded). good and choice (beef), 4.00a | proper measures to protect our funds ———— by o g.";r‘." 4 | Solasons 6 6 RY 41562, | vestments on a large scale. | 5.35; cutter to medium, 2.7584.25; veal-| “We are confident of the Toledo situ- BALTIMORE STOCKS. i P bty By | “Bome American brokers go even £o ers (milk fed)) and choice, 8.00a | ation, end we feel that a Teorganization | special Dispatch to The Star Ger Gen El 78 '45. SW Bell T b8 A 54 far 85 to predict the purchase of Amer- | | WOl be effected without delay. BALTIMORE, August 19— Good 15t 6348 '47. Sou Pac rerda'sh. sean ncuor'm'( g m’yfl! g b 50. TR Salca. et STOCKS, Gooayr Rub bwsi. . Sou Pac 4145 68 Raask vew e riitsh funds. Appar- . ion . . GrandTr s s’ " ‘al . 2 | e forget that, according to British 25 FOREIGN EXCHANGE. i SRS CRRNG o e e Soi P 42sa6s w33 Wavash bigaTs ... +{laws, a considerable percentage of the | medium, 4.00a6.00. (Quotations furnished by W. B. Hibbs & Co.) ”mnm Credit com . Nor 438" TTE. - \ealih nherited by Britishers—and | Sheep—16,000 head: Jambs, mostly Nominal £00 Conselidateq Ceal’ com : A edly these are the largest holders—must be nnfyw lnlneq\. Mm: weak mukover: e Al . today. 2 Pelity & Demosit Co. z 3 . 1 z,;: :,e‘_. % CERTIFICA' it vernment issues. | ear G and choice, native ewe London, Rty © AU Pl : porgatr X! s 4 8 TREASURY nvested W Brit'sh governm ly good A | BRRe e B i o Liret Rational maik e ’ Tt phais o 1 N Y 1385 : & Title Corp com alee By 3. & W. Belluman & Qo) . S Unlon Truit Co .. ... ¥ 108y | VRt L . (RenBried . bid, 7.75; | Beriin, mark s zis b OB Trut G0 s s West Union 58 °66. - Va Ry 1st 55 '62 LEanelsons "{,‘m : . Wes' Un;‘!:a‘ 6. . : : X : BONDS, A Y Wh Sew Mch 62740, 2 ; crachma ... 13e SRETRTD PSSR o Hoe & Co 615834 .. s Wik Sevetroas 1 % ey Hud & Madisa's7. 1 18 Wilks B & Fy 15t 35, 3 Hud & M1 5857 3 £7 Wil & Co L=t §n 41