Evening Star Newspaper, August 20, 1931, Page 15

FINANCIAL UTLTESFETU ADVANGEON URB 0il Group Favored in Active Session—Motors Dull, But Firm. BY JOHN A. CRONE. Bpeclal Dispatch to The Star. NEW YORK, August 20.—Strength in the oils and utilities featured an active and advancing session of the Curb Exchange today. Electric Bond & Share maintained its early gain of more than a half point and Cities Service was up almost that much in active dealings. can Gas & Electric rose 1% to 67% | and Middle West Utllities braced. Standard Oils continued to lead the petroleum division forward, with miscellaneous issues and later pipe line | Jol in the upward move- ment. Humble Oil opened up a point. South Penn Ol at 197 was up almost :Jmnu. Gulf Oil gained about 1! nts and fractional improvement was neorded"by Creole Petroleum, Stand- ard Oil bf Indiana, Standard of Ken- tuckysand Vacuum Oil. Standard Oil of Ohio, which, after-acquiring Solar , may take over Ohio Oil, opened off 13 points at 50. Motors as a group were dull, but they exhibited a better undertone than in previous sessions this week. Ford Mo- tor of Canada A was up fractionally, as were Cord Corporation and Etutz Mo- the accessories Pines a shade, Northern Pipe e led its group as it rose to a recard high for 1931. In the specialties a spurt in Parker Rust Proof was“the outstanding movement. A rise in Aluminum Co. of America was the only noticeable development in the higher priced industrials. Draper Cor- gtiflon Wwas up & point. Northwest ‘east, only mover in the food special- ties, lost more tha na point on its first few trades. Pepperell Manufacturing, one of the few active textile shares, worked lower. Atlas Utliities, in point of volume, was the leader in the in- ‘vestment trust group. CHICAGO STOCK MARKET By the Associated Press. CHICAGO, August 20.—Following is| the complete official list of transactions in stocks on the Chicago Stock Ex- High. Low. Close. g 3 5 87 3% 5% 28% a2 Note—All stocks are sold ~Prev. 1031~ Stock and Sal High. Low. 24% 11% 22¢ 90 10, 5% 10% Afiliated Prod 1. 0 Am Cit P&L B b10% . 1 12% 3 T4 Cquities. . . Am For Pow war. Am Founders. . Am Gas & Elec ($1). Am Invest Inc (B) 4 Am Mfg Co (1) Am Maracaibo Am Superpwr (p40c) Am Util & Gn B vte, . Am Ut&G cu pf 1% Am Yvette (25e)., 5 Anglo Chil Nitrate Appalachian Gag Arkansas Nat G Arkans Corp. . Atlas Utilities war Bahia Corp Beneficial T L (1%).. Blue Ridge cv pfal.,. Bos & Albany (8%).. s Buft N&EP pf (1.60). Canadian Marconi. Carib Syndicate Carrier Corp. ... Celanese 18t pf Cent Pub Sve A b Cent Stat El (b10%). Cent St El pf xw(6) . Cent West PS Aaity Chain Store Devel. .. Chat Phoenix nv (1). Cities Service (g30¢) Cities Serv pf (6)... Claude Neon Lts Inc. Colon Oil... Col Oil& Gas vte. Cmwlth & Sou war. . Com Wat Ser g12%c¢ Cont Shares cv pf. .. 1755 Cooper Bess pf A(3). 111 Corroon & Reynolds. Creole Petroleum Cresson Consol (4 ker Wheeler. . Curtiss Mfg Co (A) Cusi Mex Mining.. . Darby Petroleum. Dayton Air & Eng Deere & Co. .. . De Forest Radio. Derby Oil Refining. .. Draper Corp (4). Duke Pow (5) Duquesne Gas Durant Moto: East UtilInvA..... Elec Bond&Sh (b6 % Elec B & Shpf (6)... Elec Pow Assoc (1). Elec Pow Assoc A (1) Elec P & Lt op war.. Empire Corp. ... Bureka Pipe L (4). Fandango Corp. Fischman & Sons. Foltis Fischer Corp Ford M Can A (1.20 Ford M Litd (36 3-5¢) Foremost Fabrics Foundation For-Sh: Brrne moBan w1 o in one hundred-share lots excepting those designated by the letter s (80s) (250s). Dividend Rate. mo_;) Open. High, Lo‘w. cl;;e. Aluminum Co of Am 5265 127 SFEATURE || NEW YORK CURB MARKE ~Prev. 1031~ 5l 2015 113% 812 Mi 4 Memph Mo-: Moss G Niag-H Nitrafe Noma E No Am Nor Pip Northw Pande: Parker Phila C Philip Elec (40c) . Received by Private W Direct to The Star Office v Radlo (1)...... Mead Johnson (1414) a8 (60c) .. Metal & Mining. Mid Sta Pet vic Mid West Ut (b89,). $d W Ut cv pf xw 6 Mid W Sts Ut b10%. Minne-Honey pf (6). 50; Mo-Kan Pipe L (A)., Kan Pipe L (B).. 3 0ld Min, Mountain Prod (1) t Family Sto res Nat Pub Sv pf i Nat Service......... t Sh'T Sec A thoc. t Sugar NJ (2) ew Bradford Of wmont Mining. Y Transit (f ud Pow A w ag-Hud Pow Bw. . les-Bemt-Pond (1) Corp Chile B, &P (bR%). North European Oil. e Line (11) est Yeast(12) 10s Ohio Pow pf (6) Duthoard Motor B, PacG&E Pan Am Alrways. m Ofl st pf1ig. Ru Peoples L&PWr (A) . Yepperell Mfg (6)... 0 new (11.40) . Phoenix Secur Corp. Pilot Rad Tube A Pines Winterfr (1).. Plymouth Ofl (1).... 2 Prudential Inv pf(6) 400s Pub Util Hold war Pub Util Hold xw. Republic Gas Corp Rossia St Regl Salt Creek Pro(1.40). Schulte Sexal L & H ( Sglected Industries. , Shenandonh Corp. Shenandoah pf (a3 Signature Hosters ica Gel ctfs. lar Re South Penn Ofl (1) SoCal Ed pf B (1%%). Sou C'al South Corp. .... Sou Pipe Line (2) spanish & Gen rets 1-Myer ( tand Motors . Stand Ofl of Ind( 1) .. Stand Ol of Ky 1.60. Stand Oil Ohio (2 nd Pwr &Lt s Starret Strauss (Nathan) . Strauss Roth. . Stutz Motor Car. Sunray vift & Co (2). Intl (10¢). .., s Paper (60). Un 18t.. 50¢) .. Y efining . Ed pf C(1%) M t Corp pf (3). Oil (b5 % D. C, THURSDAY, A Markets at a Glance NEW YORK, August 20 (#) —Stocks irregular; tobaccos yield to bear pres- sure. Bonds ; ralls rally. Curb irregular: utilitles make small gains. . exchanges ar; sterl . Cotton steady; er stock and grain markets. Sugar easy: European selling. Coffee steady; firmer Brazilian markets. - CHICAGO, August 20 (#) Wheat, firm; good export demand; unfavorable European ¢ news. Corn steady; dry weather Northwest; bullish Kansas re- ports. Cattle steady to lower, Hogs steady to higher. STONE &7 wi-:nsfi:n. NEW YORK, August 20 (#).—Net consolidated operating income, including the earnings of subsidlary companies, of Stone & Webster, Inc., for the 12 months ended June 30 amounted to $5,- 072,350, which is equal to $2.41 a share (61: c2,‘104.500 shares outstanding as of at date. BONDS ON THE CUI MARKET. Seles in DOMESTIC BONDS. thousands 10 Alabama Pw 4135 2 Aluminum Co_ 3¢ 8 Aluminum Ltd 8s 17Am Cmwih Pw 65 ‘40 7 36 Amer G 9 Amer G 12 Amer 1 Amer 5 Amer Roll M 4135 ‘33 4 Amer Roll Mill 55 '48 30 Appalach _Gas 6s ‘4! 19 Ap; Gas 6s B 3 Appalach Pow 5s 11Arkans P & L 5s 22 Asso El Ind 4l3s ' 2A350 G & E 4ios 274350 G & E 4125 49 © 20Ast0 Gas & El 55 50 92 83% 5 56 45 46 472 8813 9 5 70 A, 9 5 Cie St Rerl 50us A "4 208 Cities Service 55 '50. 3 Gities Service 55 '66 103 * | Government than any other national | UGUST. 20, 1931 World Finance Attention Centered on Basle—Short- Term Credits to Germany Renewed—Marked Improvemen BY Special Dispateh to The Star. YORK, August 20.—Once Headed by Albert H. Wiggin, charged with the examination of to be re rej also . spective six mon! to show gating o the idea The less the Everybody’s Business DR. MAX WINKLER. NQHW of finahce is directed toward happenings at Basel. concluded its findings. pected, short-term credits to Germany are to warrant the feelin, *xn A | | t Expected. again the attention of the world | a_ committee of banking experts Germany’s fiscal difficulties, has| As was to be ex- newed for six months. Germany maintains that it would be desirable to, frolong them for three years, and that| the Aperican petroleum industry. 0] g:imark deposits in Germany must ncluded. Both groups are justified in their re- views. Conditions in Germany ths from today aré not expected such pronounced improvement as that credits aggre- ver $1,000,000,000 will be repaid. -On the other hand, foreign banks in- volved in Germany do not wish to convey to their own creditors and stock- holders that their investment in Germany will remain for a longer period of time than is absolutely essential. committee’'s chief aim is doubt- Jrestdration of confidence. Once this is achieved, everything else will take DR. MAX WINKLER, care of itself. This is inclusive of short- term obligations and the flotation of a| long-term loan, as and when conditions allow. | Power Held Barometer. Charles G. Dawes, statesman and financier, looks upon the #ise of el distinctly better from now on. According to published reports, sales | of electric power to the ultimate con- | sumer for the first six months of the current year show an increase in resi- | dential use of 7.2 per cent over thegame period last year, and a gain of 221 per | cent over' the corresponding perlod 4n | 1929. ! Trade Names Important. It is unfortunate that institutions in the United States are often permitted to bear names which, to the layman, es- pecially outside the country, indicate governmental connection or sponsm:l'r When the Bank of United States lapsed, considerable uneasiness was in evidence abroad, where the failure was | Jocked upon as involving the United States Government. A somewhat similar impression has | been created by the closing of the United States National Bank in Los Angeles. Of course, the institution has no more conngcticn with the National | bank. The creditors are assured that cash on hand and available through conversion of bonds and other securities | is sufficient to take care of all deposit liabilities. ‘The disquieting banking situation in lectric power as one of the dependable business barometers recalls that the decline in gonsumption in the United States which occurred in 1929 coincided with the beginning of the downward trend. By the same process of reasoning, conditions should become He | on the company's obligations, including | the 6 per cent debentures due 1939. The classic free trader is about to | abandon, in part at least, his polic pursued most tenaclously for many | years. In order to balance the budget and improve England's fiscal structure, | Prime Minister MacDonald proposes 1o | introduce, with others, a 10 per cent | levy on manufactures not re-exported and on-food now untaxed, expected to yield about $225,000,000. Surrounded by nations which have erected high tariff walls, rendering @if- ficult the normal flow of trade and commerce, Great Britain could not be expected forever to adhere to a free trade policy. In any event, protection, | if applied with moderation, is likely to | prove beneficial and Great Britain will prove no exception. rope Keeps Sound Stocks. Europeans do not, as a rule, part very easily with enterprises which are fundamentally sound and profitable. ‘These they keep for themselves. They do not, however, object to placing in foreign markets issues on behalf of such concerns as long as they retain control. ‘The most recent instance is afforded PETROLEUM TRADE OUTLOOK-IMPROVED Midcontinent Producers En- couraged by Forced Shut- downs of Wells. ress Staff Writer TULSA, Okla., August 20. —Hope was held in this oil capital today for an early improvement in the position of The martial law shutdown of the gigantic East Texas producing ares, out of which has come a flood of crude oil to lash the industry with destruc- tive waves of price-cutting, was greeted with applause generally by midconti- nent oilmen With Oklahoma's flush flelds also clamped under a military enforced lid and the possibility existing that similar Action may be taken in Kansas, pre- dictions were being freely made in oil circles that higher crude petroleum | prices would be posted soom in the mid- continent area. Shutdown Approved. E. B. Reeser, president of the Amerje can Peirdiéwn insutute and of tue Barnsdall Corporation. said he was “greatly encouraged” by the shutdown in East Texas. He has found, he said, thaj, midcontinent executives generally approve the move. “The thipg had to be done,” Reeser declared, “and most oilmen seem to be_glad it was done.” R. S. Ellison, president of the Stanolind Crude Oil Purchasing Co., a subsidiary of the Standard Ol Co. of Indiana and the largest buyer of mideontinent oil, said an increase in the price of crude oil was certain “if Govs. Muitay and Sterling gontinue to_adhere to their programs.” Small producers pointed” out that the shutdown has caught several of the larger companies with much high- priced ofl in storage and that they would hesifate to release that ofl on a low market. This may be a factor in hastening higher prices. “The big companies have been want- ing to raise prices for some time,” said one independent operator, “but they couldn’t 50 long as East Texas flooded the market with 10-cent oil. Now, with the flow of that cheap oll curbed, I think we can look for an early in- crease. - Prevailing top prices for midcon- tinent oil are about 50 cents a barrel. Earlier in the Summer the top price paid by many companies was 22 cents a barrel, the lowest in the history of the midcontinent are ‘The - highest price ever posted in the area was $3.50 a barrel in 1920. However, several companies had trouble getting enough ofl at that ice and tbe- waid pre- miums which boosted prices we high | by one of Europe's leading utilities, the | Rhine-Westfalia_ Electric Power Co., on |behalf of which several bond issues | were placed with American investors, a1 6 au Pw 65 B ‘41 81 n Mot Acc $s '35, 10213 AgsLid & 37 Fox Theater (A). Gen Alloys. Gen Aviation. GenEllLgtdrets 25 3-b¢ the United States, espectally as far as the medium-sized and smaller institu- tions are concerned, leads to the inquiry as to whether it would not be very as $3.75 and $4 a barrel, Market Responds. Sylvanite Gold M Tech Hughes (60c).. Trans Lux DL P S i Ren oo Ben 0 T RS JO ettt r & FESPEETIEES i 5 : y § o s 3 o % 3 B 2 & 2 s8x8s e it U'8 Grpsum 8 Radio T K il & lnd Vil i king Pums . i 80 viking Pump 3 Voriex Vortex & 2080 Waigreen To estern Cont Uil 100 wesi B T4 | 30 Yates Mach .. Btock” sales todas-63.000 BONDS. b ] losull D] 6s '40.... 83% 83 Byift 55 ‘44... 10332 10315 Bond sales today—39.000. DIVIDENDS DECLARED NEW YORK, August 20 (%) Inftial, Pe- Pay- Company. Rat Abram | Straus 375 1 _able «s Bept.30 Omitted Hidrs. of | record Sept, 21| Due at this time | 5 .. Dueat this time | e Reduced. i uen Watch ... .25c Q Sept. Aug. 20 Coke & C70c Q Sept. 1 A | & Webster. .50c .. Oct s i Stock. 15 @ Due at this time | Gen G&E cv pt B(6) .200s Gen Theat Eq ¢V pf.. Glen Alden Coal (4) Golden Center Goldman Sachs. Gt At&P T nv (16%) Gulf Oilof Pa (1%). Happiness Candy . ..: Hazeltine Corp (1).. Hormel (Geo) (2) Hudson Bay M&S.. 1 Humble Oil (12%).. 4 11 PL6% cm pf(6).2258 Imp Oil of Can (50c). 15 Indiana Pipe Line (1) Insull Inv (b6%) . ... Ins Co ofNo Am 12% Insurance Sec (40c). Intercontinent Petn. Int Petroleum (1)... Int Utilitfes B. .. Kolster-Br (Am Sh). Lake Shore Mines(2) Leonard Ofl. ....... Lone Star Gas n 88c. Los Ang G&E pf (6). MacMarr Stores (1).. Magdalena Synd..... Mass Util Assoc. . e - S & 22 1 3 1 C 7 9 25 3% Tri-Cont Corp war Tri-Utilities. .. s Tubize Cantillon (B) Unit Cor p war. BeNRAn NBARBBANN B Bomn A B nnn e e Unit Gas €orp. L UnitL & U S Elec 1 U S Dairy % Unit Gas war Unit Lt & Pw Pwr (B) Pow ww ¢ PL(6 Tnit Stores. ... . Unit Verde Exten (1) UnivIns (1%). Util P&Lt(at1.0 ). Ut P&L B(at1.02%). Utility Equities. Vacuum O11 (2) Venezuela Petro! i Wenden Copper. . West Air Exp (60c). Woolworth (FW)Ltd Wright Har (112 “Y" Oil & Gas rates in dollar based on last quarterly or semi-an- 12% 3 2% Dividend 110% | nual payment. *Ex dt 12 |SParable in cash or dividend. 4 | stock. JPlus 2% in & 3% | stock. n Plus 8% in st 1Plus 5% in stock 10 11% 34 1% 11% 3y pLY 35 1% 1% vidend. Partly extra. iPlus 4% in sto: stock. = bPayable in stock. e Adjustment & Plus 6% in stock, hPlus 1% in k Plus 10% in stock. m Plus 3% in P Paid last year—no regular rate. tock. ock. %*|CITIES SERVICE SEES BETTER PRICE TREND By the Associated Press. NEW YORK, August 20 —Cities Serv- ice Co. has reported for the 12 months ended July 31, net to common stock and reserves of $23,965,029, compared with $41,451,774 for the preceding 12 months. For the month of July net to com- mon stock and reserves amounted to $621.618, d with $3,348,673 for the like month of 1930, The statement said that July eam-| ings were larger than those of June,| gross and net earnings, net to stocks and reserves and net to common stock and reserves all showing increases. “Sale of all Citles Service refined oil products in the United States an - ada, both wholesale and retall” the report said, “increased more than 40 per cent during the first half of 1931 over a similar period of 1930, The downward price trgnds which have ex- isted during the last 1Z months on both crude and refined oils were checked | temporarily late in July and now indi- cated price condition® show a distinctly upward movement.” The company declared the regular monthly dividends of 2; cents and one- half of 1 per cent in stock on the com- mon, 50 cents on the preferred and preferred “BB” stocks, and 5 cents on the preferred “B,” all payable October 1 to stockhdiders of record Septem- er 15, Gan- | Poultry. alive—Chickens, young, 208 | Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., August 20.—Pota~ toes, barrel, 1.75a2.00; sweet potatoes, bushel, 60a140; beans, bushel, 40a90; | | beets, per 100, 2.50a3.00; cabbage, bush- €, 40850; carrots. per 100, 3.00a3.50; corn, per dozen, 3.00a3.50; cucumbers, hlug 25a40; eggplants, hamper, 40a | 50; lettuce, per crate, 175a7.00; lima | beans, 40875, okra, bushel, 1.00a2.00; | peppers, hamper, 20a30; onions, per 100 | pounds, 1.7582.00; peas, per hamper, 2:00a2.25; squash, per bushel, 50a75; | tomatoes, bushel, 25a40; apples, bushel, | {25a1.00; ‘blackberries, per quart, 7a10; | cantaloupes, per crate, 25a1.50. | Dairy Market, | 30; old hens, 19a25; Leghorns, 14al8; roosters, 14al5: ducks, 14a20; pigeons, | | pair, 20a25; guinea fowls, pair, 40a75. | Receipts, 259 cases; current | | receipts, 17218, bennery whites, firsts, 21a23. Butter—Good and fancy, creamery. | 26a31; ladles, 19a20; progess, 21a22; | store packed, 15a16. ' Hay and Grain Prices. | Wheat—No. 2 red Winter, export, no | quotations; No. 2 red Winter, garlicky, spot, domestic, 51; August, 51; Sep-! tember, 51, | | _Corn—No. 2 yellow, domestic, 61a62; | cob corn, 3.25a3.35 per barrel. Oats—No. 2 white, domestic, 30a31; No. 3, 29a30 Rye—Nearby, 40a45. Hay—Receipts, none. General hay | HUGE OIL COMBINE FORECAST IN PRESS By the Associated Press. NEW YORK, August 20 —Newspapers forecast today that five large ofl com- panles would soon announce their mer- ger, with assets in excess of $1000,- 000,000. The name will be either the Associated Petroleum Corporation or the Commonwealth Oil Co. The companies participating in the merger are the Sinclair Consolidated Ofl Corporation, the Tidewater Assoclated Ofl Co,, the Prairie Oil and Gas Co., the Prairie Pipe Line Co., and the Rio Grande Oil Co. The new corporation will issue 25,000,000 shares of no-par stock. Common Sinclair stock - changed share for share. T U ‘Tidewater stock will be exchanged at the rate of eight new shares for 10 'ndP::r;trr ie Oll will go share for share. Prairic Pipe Line stock Wwill be ex- changed in the ratio of 10 Sares for 14 of the new company. Rio Grande changes have not been new company will go in for pro- duction, refining, m rkell:: and trans- portation. Washington Produce Butter—One-pound prints, 32; tub, 31. RURTURT LTy S F 2 - SEESE X SRS Sl 328232388; 2855 aaaulomnabest S8aSges 323! ¥+ i 22888 ST S 2e3a3nagesianiazenessnds SeetieSecunny S BE2R282832583283WR2223! Fd 3 =:§§§§s:=s S, gEa:EEiE::s: RFRAPS B2ERL2]328825US e SEV 3 vy 28822222833! P RRES 8, 3 (S Fonna; Fosz PPP! ] Z2? o1 B FS3 . > . 2REED 3 242, 255 =L Lol Lhe 29 s g L e St ?fiixs:fi S 3 ¥ g 5 £ EEp S SRS 257! Sgsgad s P2IRR! Be2E >2, : 82 helpful if steps are taken to restore con- | fidence in them, just as is now done with respect to Germany, Hungary, Austria and others. The depositors in the Unjted States are entitled to as much ideration as their European neighbors. Even though the problems across the At- lantic are graver, ve must not lose ight of the cumulative effect that bank failures in the United States are bound to exert upon, the economic life of the Nation. Amusement Outlook Good. The outlook for the coming vear is | encouraging for the amusement in- dustry, according to Harry M. Waj ner, head of Warner Bros. Pictures. Although he anticipates a loss for the current quarter, Mr. Warner calls at- tention to the notable pick-up in busi- ness during the last few weeks and adds that earnings have been sufficient | to take care of all interest charges | who were also occasionally invited to purchase shares in the company. The latter, realizing that working control is likely to pass into the hands of for- eign groups, has just created an addi- tional issue of $750,000 par value reg- istered stock, which should act as a barrier to any acquisition of control by international banking groups. Strauss Bond Collapse. A shadow of their erstwhile glory and grandeur are the 6 per cent convertitle bonds of Nathan Strauss, Inc., selling presently at about. 20 per cent. A re- ceiver has been appointed for the com- pany's properties, which accounts for the current quotation. Introduced to the American public some three years ago, the bonds sold appreciably above 400 per cent. The present level repre- sents a shrinkage as compared with the high of more than 380 points. (Copyrisnt, 1031, by, the Nofth e rth American | wspaper Alllance, Inc.) Extension of Credi lieving Financial BY CARLTON A. SHIVELY. Bpecial Dispatch to The Star. NEW YORK, August 20.—Both in re- spect to the findings of the so-called | ‘Wiggin Committee on the German eco- nomic position and the agreement signed. t -Bagel by a consortium of German l.unker‘: ln; their foreign creditors, th!! results of the euglnurt::ect“ were just as | expec! in Wi Aswigle American delegate and as | chairmsn of the committee proposed at the London conference in July to find facts and make recommendations, Al- bert H. Wiggin, chairman of the govern- ing board of the Chase National Bank, was to lend support to the idea of revision of German reparations. He went on record in the annual report for his bank last Winter as favoring debt ‘eduction. Opinion Ts Divided. ‘Mr. Wiggin's selection for the com- mittee scarcely was made because of his views on international debts, but rather because of his own ability as a banker and of the large interests of his bank in Germany. On the subject of cutting German reparations and allied debt pay- ments to this country. Wall Street is b; WALL STREET OPINION DIVIDED ON GERMAN REPARATIONS CUT = lBanl(ers Generally Agree, HOWCVCI‘. on ; disappointed on that account, for the ts as Means of Re- Tension Abroad. committee was merely a fact-finding body. Among the interesti facts it found was that Germany s been committing the financial crime of bor- rowing short and lending long, the practice which brought disaster to the creditanstalt in Austria and - which brings on failure of so many J The committee found that Germany had used short-term credit to make | long-term loans to such slow, if not impossible, debtors as Russia, Turkey, | Rumania and parts 6f South Africa. (Copyright. 1931 GENERAL FOCD’S SALES ARE GAINING IN CANADA | Speclal Dispatch to The Star. NEW YORK, Augtst 20-—General | Foods, which is steadily bringing out | new products, is doing & better busi- | ness in Canada, according to Vice Presi- dent R. K. McIntosh. Dominion sales | are up 6 per cent, he said. All five of | the Canadian plants are running full time. “Business in the maritime provinces is better than it has been for some The gasoline market already has felt sharply the effects of the shute down. Several Oklahoma refiners have indicated that quotations for the United States motor grade of line may be withdrawn entirely wif the next day or two. This fuel was quoted yesterday at 5 to’5' cents a gallon in tank car lots f.0.b. refineriss, the highest prices since the Spring of 1930, Hnmnnel;‘hl for o les i e available for spot was limited. Several, including Lhe"hl'e Oak Re- fining_Corporation, Barnsdall Co., Tidal Refining Co. and TS, already have withdrawn from the spot flmnrtket because of insufficlent pro- luction, | Special Dispatch to The Star. NEW YORK, August 20.—Following the decline of over 60 points in the past few. days, the cotton market developed more resistance today and steadied un- der short covering to end 8 to 12 points r than on Wednesday. receipts for five days were only 32,000, as against 139,000 in the cor- responding period last year, and the movement is still not heavy enough to prevent the short side crowded. Spots points to 6.60. Gl"ain Market By the Assofliated Press. CHICAGO, August 20.—Wheat show- ed firmness late today, whereas corn underwent setbacks, with September corn again oufdoing the season's low- price record. "Late strength of wheat was associated with announcement that, the United States Farm notified China of willingness to nego- tiate the sale of 15,000,000 bushels of wheat on credit for flood sufferers. An- other stimulating factor as to wheat was continued reports from India, China and Japan that Rice production was short and might cause the Orient to_buy more wheat than expected. ‘Wheat closed stiffer, 1:-% up; cormn unsettled, 4-3; up; oats at a shade decline to 3; advance, and provisions, 7 cents lower to 7 higher. WHEAT— et (Reported by J. & W. Beligman & Co) }g:l'ir"'- i mg:::e mef,fl"“ on;nplenmdfi ’ . | outward . Competition g, 55 3937 19204 193 | of pasturage making itseif felt. Tpair to| | Am 0: r:-I, Sies 1043 1 110% m’ mhy’-nd cgom mixed hay 2 | Baitimore & Ohlo 4y, 1033 .. ¢ s from 1500 to 19.00 per 1 BEIPER SbuSais sy Tasiler 10802 o831 | lom, Between seasons now and situa- - Ry, 1 1085 Straw—No. 1 wbite, 9.00a9.50 per | ton, years,” Mr. McIntosh said, “while little | change is noted in Quebec, where busi- | ness is maintained at fairly high levels. | In Ontario both the wholesale and re- | if tail grocers find conditicns improved because of the adoption of more effi- cient methods. Business in Western Canada is fair, though the wheat situa- | tion there is a retarding influence.” Eggs—Hennery, 24a25; current re- ceipts, 16a17. Poultry, alive—Spring broflers, 3 pound and over, 29a30; 2 to 2% pounds, 27a28; 1% to 2 pounds, 24a25; Leghorn broilers, 23a25; hens, large, 23; ‘small, 18; roosters, 12a13. Dressed—Spring broilers, 3 pounds i Bervice. .. b5 v & Int ex..2% i1 55 g8 Allis-Chalmers 1 ers. Nearly every shade of opinion is held on the subject, and some. frankly say that they do not now know how they stand, their positions having shifted a bit in recent years. At least one prominent international banker feels very strongly that cutting of for- 2222328 e 238523235803y Tave 103, 874 i £2 28 32383328885y i RYE September December arch a: W R e 2 lg‘l’hf t 106% ton; No. 1 oats, 5.00a10.00 per dian Nor. Rw; Northwesiern 4%a8 1985 < R8s 1933 Cricago Rock Island 4s 1934 M May ... Er *9, » ic_lanvestors pf 2 fas Co pi....1%" 3 ities Service . Do pf Do Bf BBl pt B . Pliene’s Wm Behll 21 # 1 | 24 3| roatl Salt Disblo Ol M | © o0 RREEppo%p OO nte: o | Nat Bd & 8b e New Brunswick Pow 1 A WY & Guoens Bl Lt Pow $1.50 DODLROD ™ iy pr 106 { ompe Pii Bl Bfijfimfl l{lllrulx of Cuba pfd 5150 o las Alrcraft . 50c i5A L. 30 ure Meter A b0 @ Seot. 13 . Bept. 15 Q@ Bept. 18 s —e. BALTIMORE STOCKS. @pecial Dispatch to The Star. on Ehife Copper Co. bu. 1847 Deniver & Rjo Grande 4% 1838 Gen' ‘Mot. Acce. Corp. & 1037 ') 55 1940 1¢ s 1939 6 1936 1 Grand_Trunk of Canas Gulf Ol of Pa Humble Ol $%3s 1932 . Internat, Match Corp. 8s i947. ... " Mariand Oil 55 1932 Natiopal Dairy Prod. 5iis ‘1948 New York, Ohi. & St L. s 1632 Portland General Elsc. 35 1935 Republic Iron & Steel 5s 1940 78t | 108% | 9814 mited Drs rginia Railway & Western Eiectric e . 1 1085 | Wheeling Steel Gorp. § NEW YORK BANK STOCKS | NEW YORK. August 20 (#).—Over- | the-counter market: |to_cholce, 7.2528.25 16.50a7.25; Live Stock Market. Cattle—Receipts, 400 head; light sup- | ply: market steady. Steers—Choice to prime, none; good falr to medium, 5.7586.50; ‘Plain to fair, 52585.75; common to e Cheier u olce to prime, none; to_cholce, 4.50a5.00; medium. to &”&’ 4.00a4.50;" fair o medium, - 3.5084. plain o' fair, 3.25a350; plain. 3 0083.25. we—Choice to prime, none; good 1o choice, 4500500, medium to 4.0084.50; fair plain to fair, pl:l.t::i' 1.50a2.50. ers—Choice to prime, none; good to_choice, 6.507.00, ‘medium o good, 6.00a6.50; fair to medium, 5.5086.00. Sheep and lambs—Receipts, 600 head light supply; market lower; sheep, 1.00a3.00: lambs, 4.00a8.50. Hogs—Receipts, 500 head: light sup- fil‘y.; market steady; its, 7.7087.95: vies, 6.50a7.65; 7.7087.9: common to UNDERWRITERS’ OUTING The District e medium to good, | | and over, 33a35; 2 to 2% pounds, 29a | 30; 1% to 2 pounds, 26a27; Leghorn | brotlers, 27a28; hens, large, 25a26; | small, 20a22; roosters, 13a14; Long Is- |1and ‘ducks, 21a22. Meats—Bee!, prime, 15'4a16; choice, al5; good, 14; Texas, 13a13)3; | cow, 12; common, 10; veal, top, 14: | medium, 1213a1 dium, 18; fair, fresh strip bacon, 22a23; lards, 10a10%. Live stock—Hogs. heavy, 6.00a7.00; light and medium, 7.0047.50; pigs, 6.50a 7.00; roughs, 3.00a4.25; calves, 5.008 8.50; lambs, 5.0088.00. Pruits—Watermelons, 15a50; canta- | loupes, 1.00a1.50; apples, 25a1.00 | peaches, 1.00a2.00; pears,’ 2.00a2.50; Persian melons, 2.00a2.50; honeydews, |1.50a2.00; oranges, 3.50a4.50; lemons, | 6.50a7.00; grapes. 1.50a2.00; figs, Nor- folk, 5.00; pineapples, 3.50; damsons, 4-quart ets, 25; huckle- berries, 5.00. Vegetables—Potatoes, per barrel, 2.00 82.25; sweet, per bushel, 1.50; cabbage, 100-pound crates, 1.75; eggplant, 75; peppers, 50a75; tomatoes, 50a75; kale, 50a60; spinach, New Zealand, 75a1.00; 00a3.50; 1.00; Mill Operations Resumed. NEW YORK, August 20 (P).—The Republic Steel tion has started its strip mill at Warren, Ohio, operating at 35 after a i 8 <y =t Seuisagiseans o = Sa: TES gagaag EEEEETS 228 283! SESEE :;sE T g 5 i3 L 3828 oF 42 * 2 I3 £ IR 3 B % 2 5, > <<gzaca: S5 i) 25 £ s3gs :- 23 25, 13 #2235, 8RBILILTL 238! de228: iscon P&L 5s P '38. 103 FOREIGN BONDS. T Mig Bank Ts 4T ¢ den Con Mn 7s 51 ta, Mig BE 7 47 n Alr Pr Tias '47 ca_Valley Ts '48. . t Bk Co 65 B le Mtg BE 6s 3 ¥ gl‘i S umon £8 o 14 £ 82 2! 3 3 EEEE & s 3sadsansugsns P L sgsg LT HeTROpYE, JeTeere 13 B et g8 Fegpengee 223 337584 IF 32288 & eign debts to this country, although per- he favors it, would have very bonus payments will do little to help debt scaling. On the maiter of the second part of Mr. Wiggin's duties in Europe—the agreemeny for extension of short-term credits' to Germany by American and other foreign bankers—the interior ‘bankers have virtually agreed to follow the lead of the large New York banks. They in turn reposed full authority in Mr. to represent them and views were transmitted abroad a short time ago, be - tually .the same as the terms agreed upon at Basle. Existing credits, esti- mated at $1,200,000,000, will be ex- banks in Germany will have graduated extension. Revision Held Necessary. Although the Wi report does not wnr‘uwmm‘gh: cut in repara- tions, it favors that by implication, if any one is so minded to intes it that way. piling u) guaranty, which appar- ently suggests international guarantees. {:‘W e'nt.o‘wgl_ Bt-r-ef feels * that question ‘oung an revision Iflmflpnm ‘way or g 3 “rec ¢ & made Was not STOCK AND BOND AVERAGES By the Associated Press. THURSDAY, AUGUST 2¢. gap2Eegeeena; huwpepunoRnD