Evening Star Newspaper, August 21, 1931, Page 15

Market's Pace Slower After Irregular Opening—O0il Shares Active. BY JOHN A. CRONE. h to The Star. as floor traders noted the presence in that crowd of one of the mere colorful bull t?enm, who in the past has acted for “insiders.” Middle West Utilities, which plans to , eased slightly, despite purchases by brokers who usually act for the aceount of the Rockefeller Foundation. For the first time in years the name “Vacuum” was missing y from the Standard Oils dealt In on the curb. ‘The stock was removed from unlisted for Socony-Vacuum shares, dealt in on the Stock last Vacuum Oil sale on the curb was made two minutes before Thursday's close at 511, off 15, Humble Oil was do a bit higher. & rail aside from Pennroad whose move- ments are being watched in connection with action to be taker on the Bos- ton & Maine common dividends next ‘week—broke 47 points to a record low for the year. y & Western Ry. , August 21 (#)—An of- third of the entirs i i i 8. H § iggigi i CHICAGO STOCK MARKET By the Associated Prese. CHICAGO, August 21 official list the Chi .—Following is | of transact ons | Stock Ex- 5 i i i gm;‘ £ "E,i UL !! 50 % R R i 125 S ey l',!?:;g: g B8, BEREENE 8. i 3ot -ubiindanseitis e :9!32;% . ELL = 8 s " Household G & F 1% ‘bf ll‘?ndy Corp A el id 8580, 55E0Y. SauuuBE iz, 280, B ul. 25 WSS g5, S PRt » 0 " g % i m2 2:4',6 11% Affliated Prod 1.60. 3 4 109% 95 AluCoof Am pf (6). 5% Am Cit PRLBDb10%. 0%) 4814 Am Gas & Elec (31).. 1% Am Invest war,. 15 Am Maracaibo.... 91% Am Pub Sve pf (7) 8% Am Superpwr (pd0e) 8114 Am Superp 1st (8)... 1% Am Util & Gn B vte., 1 Am Yvette (25c) 1% Anglo Chil Nitrat: 8% Appalachian Gas. 314 Arkansas Nat G: 3 ArkansNatGasA... 4 Art Metal Wks (60c) 11% Asso G&El (A) (al) 1% Asso G & E1 A db rt 67 Ass0G & El ct (8) 3% Atlas Util Corp 1% Atlas Utilities 1% Bahia Corp. . 13% Bel 3 Blue Bidge Corp. 27 BlueRidge cy pf(af). 12% Brazil Trac L&P(1) 25% Buff N&EP pf (1.60), 1% Burma rots 127 3-5ca. 1% Canadian Marconi. 121 Carman & Co A (2).. 17% Cent Hud G&E (80c) 7% Cent Pub Svc A b5%. 49 Cent Pub Sve pf (4). 64 Cent Stat El (b10%). 14% Cent&Swn Ut (b7%) 17 Cent West PS Aall% 7 Chain Stores Stock. . 12% Chat Phoenixnv (1). 61 #3% Cities Service (g30c) 229 61% Cities Serv pf (6) 1 315 Claude Neon Lts I 3 Colon Ofl. 2 Col ON& G: 190% Cmwlth Edison (8) 1% Cmwlth & Sou war.. 8 Com Wat Ser gl12%c. % Comstock Tumnel... 1 Consol Auto Merch.. 11 4 Consol Gas UtBvte, 1 86 Con Min & Sm (£2%) 10s 18 Cont Shares cv pf. 2 17% Cont Shares pf (B). 5% Cord Corp 1 Cosden Oil. 2 Creole Petroleum 4 % Cresson Consol (4¢). 19 208 Cumberland P L (2).100s 17% Curtiss MfgCo (A)... 1 % Curtiss Wright war.. 2 Darby Petroleum % Dayton Alr & E: 15% Deere & Co. » 10t B e s RO e @raper Corp (4). DressSR A (3%) i Duke Pow (5) Duquesne Gas Durant Motor: East G & F Assoc East Sta Pow (B) Bast Util InvA..... Educational Pie pf. . Eisler Blectric il Elec Bond&Sh(b6%) 245 38% 2 1034 Elec B & Sh pf (6).... a Elec Pow Assoc A (1) Elec P & Lt op war. . % Elec Products of Col. Elec Sharhldg pf(aé) , Empire Corp ) Emp G & F cu pf(8) . 200s Europ ELtd A (80c). & Ford M Can A (1.20). 1 Ford M Ltd (36 3-5¢). 10 Foremost Fabrics Foundation For Shs Garlock Pkg (1.20).. Gen Aviation. . L 1 1 Gen Fireproof (2)... Gen G&E cv pt B(6). Gen Theat Eq cv pf. . Giobe Underwr (15¢ Golden Center. Goldman Sachs. . Graymur Corp (1). .. Gt At&P T v (16%) Groc Strs Prod vte. . Guenther Law (1 Gulf Ofl of Pa (1%). Hackmester Lind. .. Hamilton Gas rets. .. Hollinger Gold(65c). Humble Ol (123%). . Hydro Elec Sec 1.40. % Hygrade Food Prod. 11l Pow & Lt pf (8) . . Imp Ofl of Can (50¢) Imp O Can reg (50c). Indiana Pipe Line(1) Insull Inv (b6%) ... Intercontinent Pe Int Petroleum (1). Int Utilities B. .. Interstate Hoslery.. Kolster-Br (A Sh). Lake Shore Mines(2) Leonard Oil. . . Lerner Stores pf 615 . 4 Long Island Lt (§0c) Louisiana Lan & Ex. MacMarr Stoved (1), Magdalena Synd. ... 4 16 229 90 Aluminum Co of Am.1870s126 1 100% 100% 100% 2 6% 6% 6 Diyidend 3 Mavis Bottling (A).s Mead Johnsont($434), Met Chatn Stor . Mid West Ut (b8%) . Mid W Sts Ut b10% .. Minne-Honey pf (6). 40 Mo-Kan Pipe L (A)ee 7 Mont Lt H&P (1%).. Mountain Prod (1) Nat American Co.... Nat Bd & S Corp (1)« Vat Family Stores. .; Nat Fuel Gas (1). Nat Investors. Nat Pub 8v A (1 Nat Service. . Nat Sh T Sec A $600.. Nat St Corp war. Nat Transit (1). Nat Union Radlo New Bradford Oil. .. New Eng Pow pf (8), 108 New Eng T&'T (8).. 508 Newmont Mining. 1 NY Telpf (83)..... 50a ing-Hud Pow (400). 14 &-Hud Pow A w., £-Hud Pow Bw.. &-Hud Pow C w.. & Sh Md (40¢). .. es-Bemt-Pond (1) rate Corp Chile B, Am Aviat A war, th European Ofl. rthwest Yeagt(12) Novadel Agne (4).. Ohio Brass (B) (2). Ohio Pow pt (6). Outboard Mot A . Outboard Motor B. ™ 5% 16% 1 9 108 268 608 1 Pac Western Oil Pan Am Alrwa; Pandem Oil. Pennroad Corp (40 Penn Pw & Lt pf (7) 100 Perryman Electric Petrol Corp war. Philip Morris Inc.... Phoenix Secur Corp.. Pilot Rad Tube A. ... Pitney Bowes (bd %) 4 5 1 1 8 3 s 1 95 1 Pittsburgh&LE(110) 50s Plymouth Ofl (1)..., 50 Premier Gold (12¢).,. 1 Prod Roalty (b10%), 4 Propper McCallum.. 2 Pub Util Hold war Pub Util Hold xw. Pure Oll pf (8) Reiter-Foster. TReliance Int A Republic Gas Corp. Rubberod (4)......, Russek's Fifth Ave,, St Regis Paper (60).. Salt Creek Pro(1.40) Schulte Un 5c-$1 St Seaboard Util (28¢) .. Secu Corp Gen (40c) Sexal L & H (a50c) Selected Industr % Sentry Safety Co» Shattuck Den Min Shenandoah pf ( Silica Gel ctfs 14 i B « 108 15 8 W Gas Utilities Stand Ofl of Ind( Stand Ofl of Ky 1.60. Stand Ofl Ohio (2% ) .250s Starrett Corp pf (3) Stein(A)&Co (1.60 Stinnes (Hugo) . Strauss ( Strauss Roth Stutz Motor Sunray Ofl (b5% Swan Finch Oil. Swift & Co (2). . Syracuse W Mach B. Tech Hughes (60¢c).. Technicolor Inc. .... Texon Oli&Land (1). Thatcher Sec Corp Timken Det A pf (7). Tran-Con Air Tran. . Trans Lux DL P § Ly nt Corp war F AR AR AN A AR OB e A I3 B - T T% 0% Tri-Utilities........ Tubize Cantilion (B) Union 01! Assoc (2). Union Tobacco . Unit Corp war. . Unit Founders Unit Gas Cor! Unit Gas pf (7). it Lt & Pw A (1).. Unit L & Pwr pf(6). Unit Milk Prod ¢ U 8 Elec Pow ww U 8 Foll (B) (30c)... U S Inter Sec 1st pf.. } P&Lt(at1.02%). Ctility Equities. Venezuela Petrolm Voght Mfg Co (1). Walker (H) (50c)... Watson (J W) Co. . Welch Grape J 123 Wenden Copper . Woolworth (FW)Ltd “Y"ON&Gas....... rates in doliare payment. *Ex dividend, ayable in cash or stock. 113, | Gividend. Plus §% in stock “ | stock §Plus 2% in stock. stock. n Plus 8% in stock. % % % 1% 10% SURIES Ui L based on last quarterly or semi-an- | Partly extra. tPlus 1% b Payable in stock ® Plus 6% in stock. hPlus 1% in | k Plus 10% in stock. mPlus 3% in | p Paid last year—no regular rate. Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., August 21.—Po- ; s ahoep, | ons 507w vosasso - " BROKER LOAN TOTAL et Baace T, SR | ies. soarss: metum, Troarss.| GAINS DURING WEEK roughs, 4.0085.10; 7.2507.50; | | pigs, 7.5087.75. Calves—Receipts, 75 head; light sup- | Special Dispatch to The Star. i g | Flod of 1080, & decrease of 43 ilation L] mote practicable pro- m?‘:-'hummun!m ~ Pyt e Net Income Declines. NEW YORK, August 21 (#).—Reports lorflwflmaummmumlmm available for 462 industrial, rail and utilff net income 27,729,000, with 931,207,000 for the m pe- cent, comp ©o, says. by Standard saSssses - 8! 2203833t § 23222838 ands8 % FEE W ¥ N 5.8888 3E=ega0as W oaw A g3issassas: ¥ ¥ & % SEIEE TES t2d & 23823383 ' 3228322338 238233388: 5 5 3 929998 & s * 3822238382 e SRS S SO, W TR Nt 29990 >3 suszsgiiseisraeits R i T 38 & ks 8FE T ugsagides > M E3asieasinsiang ans slannsasife & 19 Elec P & L B8 13 Empire O&R 5las '42 5 Pairbanks Mor 5 1 1 Wat._ 5 13 Firestone Tire ub) v 22253288 %S! 3 T G GE S WO > 8 ) ! PRRPIETN.. | -~ - 2T s !!l33§§l§!=li g En B s TR R FE & SBERI2BRAS 3 S Sod R 5585 ugsss! 53 Ssgessgagasais: &F . i & 3 S i o d OE £, <5 2338 xEsrasdatyEy Brasan Mo ‘!Es s 111 R 2552 REEEaEREE g ¥ Zoorerasalicmase 2 EK!Z‘IEII 85 s § e on 383 FEFEE ZK] 2x¥a Po 4%3 Edison 58 io Pow 4125 D ‘s 1 7 Pacific GRE 4! 102 | M Pac G & E 4les T '60 103% 1 | 5 A48 xw 6 | 35 55 80 f | 17 98 (101% 4105 1 104 ic Pw & L s Oll $Pa Cen P&L 4is 1Penn O Ed 55 B ‘59, o P&L 5jas ‘5 H s SR at once. one. less likely to create confidence than a slow ‘The process is, at best, a gradual Furthermore, sudden flurries are and gradual improvement. In of ‘the Kmerican Co., head of a nal Telephone & Telegraph organization to :g-’opeute with public authorities to meet Hoover ent situation President could not have chosén a better man or one in whom the people of the United States would have more confidence. This move is also preferable to the one urged by many upon the Presidefit to call | into session in advance of the Conj ralgu.:;-beeember meeting. d economists do not, under ordinary eircumstances, approve governmental in- terference with business. Requests for DR. MAX WINKLER not State guarantees of .bank deposits have | been made from time to time, but have proved feasible of realization, or practicable. It seems, however, that someth will have to be do: sooner or later in the United States, wheremgmk failures contl.n::: unabated. It is earnestly hoped that leaders in public as well as private life will give serious consideration to this question before they may be compelled by circum- stances to do so. Especially when one sees that similar happenings abroad are immediately attended to with govern- mental ncies coming to the assist- ance of closed institutions, with the re- sult that the depositors’ fund¢ are safeguarded. . Danish Remedy Cited. It may be recalled that when the Danske Landmandsbank, one of the banks the Scandinavian did not Incidentally, Denmark, in to carry out the plan successfully, ob- tained a credit from the United States for that purpose. ‘When the Boden Credit Anstalt, Vi- enna’s largest bank, falled, the Aus- trian government arranged for Credit Anstalt, a Rothschild institu- tion, to absorb the Boden Credit, guar- anteeing the depositors' funds. When, three years later, the Credit Anstalt got into government, with the ald American bankers, stepped in with the result that the depositors lost nothing. Rumanian Bank Saved. When banks in Rumania failed, the National Bank stepped in and worked out arrangements satisfactory from the | point of view of the depositors. When the Darmstaedter and Na. tional Bank, Germany’s third largest bank, closed its doors, the German gov which in recent months e notorious for its failure to meet con- tractual obligations, a bill has just been introduced providing for an issue of $50,000,000 in debentures to be used to | assist the state savings bank of New South Wales, which closed its doors last April. American depositors are not likely to | continue to view indefinitely with equa- | nimity the steady closing of-banks in the country, with nothing being done to actually aid the depositors outside of ordering investigations or calling eon- ferences. | A deal of the world’s economic | troubles is due to the attempt on the part of certain individuals to further | schemes which are economically un- | sound. Even though those sponsoring | them may not be prompted by personal | gain, the fact remains that if effected | | they are bound to do a good deal of damage. | When the veteran bonus bill was in | the process of being adopted, it was held that the United States Treasury could not at the time stand the drain. advocates of the bill, however, maintained that the release of funds | would result in an increase in expendi- | ture for productive purposes thus | furnish a stimuius to a revival of busi- | ness. Although well over a billion dol- lars has been disposed of among war veterans, there is little if any indica- | tion of any improvement which can be | ;I;lllud directly to the passage of the In view of the above, it is diméult to comprehend the renewed efforts of the | national commander of the American Legion for additional soldier relief leg- ' islation to be urged at the coming ses- sion of Congress. . Next month the Baltimore & Ohio Railway board will meet for dividend action. At the June meeting the an- nual rate was reduced from $7 to $5. | The earnings of the system, together | , the of foreigners, including | S ORDINARY LIFE POLICIES IN 16 PER CENT DROP Special Dispatch to The Star. HARTFORD, Conn., August 21.— The volume of ordinary life insurance #old in the United States during the first seven months of 1931 was 16 per cent below sales of the same period last year. This general loss, although more severe im some sections, was ex- perienced by every State in the coun- try. The States on the Eastern Sea- life_insurance sales during 1931. tates have suf- loss of only nt. December Walter S. Gifford, head |Ma i 3 i ) Bk vy o wend New York Cotton | NEW YORK, August 21.—An im- provement of 15 points occurred In cotton pri { Building Outlook Better. NEW YORK, August 21 (#)—A. B. kinson, president of the Indiama coast have had the best experience in |gaid SYNOPSIS: Mystery household of nn-mhhqu"mm‘: 3d illed Deris tion. | | | | | i Accompanied | 1o'the sate by Maforie, who. returning, found her aunt dead. she declared. CHAPTER V. CLUES AND CONJECTURES. UPT. RICHMOND paused to al- Jow Marjorie to compose her- self. “You saw no one in the garden when you found your | it?” he resumed. . She shook her head and continued: “I ran to this roct, to that door™ | pointing to the glass doors opening’ the garden—“and called Evelyn and Lionel, who were still singing.. vent with me, but it was too late.” | i§§ 3t 7 9l2 15Hr i L Ll Soro. 2 !g?;‘ ‘Z,' |tatoes, barrel, 1.7582.00; sweet potatoes, e with the generz] situation obtaining in | tho railroad field, would not seem to | warrant the maintenance of the pres- ent rate. Furthermore, at current levels | the yield is well in excess of 10 per | cent, an abnormally large return when comp:red with prevailing monetary con~ ‘ ditions. Unless something very radical | takes place within the next few weeks | + “I saw a sirarige car and a man beside it,” Roscoe rocalled. 9414 | to justify continuance of the $5 basis, | “Where did you see Maj. Greshdm?” | under notice to go because he wanted O O B ch maia| “On the lawn, befcre I got to the | to marry Janet Raynes, the parlormaid. “ | the return would still be betwsen 5 and house. I hardly noticed him as I hur- | Was he resentful?” & per cent. ried to tell Evelyn, but he waited and | “He was—and very rude, although we WeP Vigs B 70 5 Billion-Dollar Oil Merger. | went with us.” Then Lionel—Mr. Duck- rather sympathized with him.” 3 81 10 mu?:n“:el:nm:um:;g;;:{u’ number Of | worth—went for Bén and Green, the ~ Richmond said that Green could have direction of the Sinclair interests, there | chauffeur. They carried her' in. and | pushed the image over and been back will be set up an institution rivaling | Lionel and Maj.. Gresham sent for the ron the job within three or four min- in size only the largest of the Stand- | oior B2C T ROLCE, |\ icn. | utes: o o Oldupendens. " somcesn in 'the | mond asked if sne had not been SUI- | concrable Hoscoe. -Fie said ne'd Bo {in his garden until dark dent concern in the A ;&m}c‘g:\"i!n:unry in the United mm.‘{m at finding Maj. Gresham near | the house. smoked in his doorw he repfled. “He was Aunt Negotiations have been for some | the Joy time and it was generally fell tBat! annabelle's greatest friend, and often | came over in the Summer to talk to her. | | I suppose he was on“his way to the | Dutch garden when I saw him. Constable Roscoe, a_stuggive young Yorkshireman with an henef) red face and reddish hair, was glad to answer | Jimmie's questicn as to the time of the | tragedy. “I got the message, str, at 10:40, | | when Green, the chauffeur,;came for me, walking. He said the car was out of hurried my bicycle, light on the scene—and ially remembering | * | bushel, 60a1.40; beans, bushel, 40a90; ‘ ply; market steady; calves, 3.5089.50. NEW YORK, August 21.—The weekly beets, per 100, 2.50a3.00; .cabbage, | e s 37 statement of the Federal Reserve on bushel, 40850; carrots, per 100, 3.00a | CORN YIELD LARGE. brokers' loans showed an increase of 3.50; corn, per dozen, 3a5; cucumbers,| MOUNT AIRY, Md., August 21 (Spe- |$14,000,000 during the week ended Au- hamper, 25a40; eggplants, hamper, 40a | cial) —With the peak of the canning gust 19 to a total of $1,343,000,000. 50; lettuce, per crate, 1.7587.00; lims | factory operations expected to be!This compares with a total of $1,329,- | beans, 40a75; ok;s,“:uhg‘x‘,’ 1,oo.z_mjr-ched bere early next week, a more 000,000, the previous 1931 lew, made | peppers, hamper, ; onions, per than normal yleld of corn is anticipated | last week, and with $3,128,000,000 on unds, 1.7582.00; . per hamper, i o T i D 008225, squash, mer bushel, Somas; | from this section. Corn packing has|August 20, 1930. | iomatoes, bushel, ‘25a40; appies. bushel. already started, and several farmers| Loans for own account were $950,- a1.00; blackberries, per quart, 7a10; | from the Linganore district have re- 000,000, compared with $936,000,000 & cantaloupes, per crate, 25a1.50, | ported of nearly four tons per week ago. Loans for out-of-town banks Saby Moater. {aes: Wl ht::‘ed;:nmuyln:loue‘ ‘::,:’%I;led :zfl,ooo,o{oo‘ against $230,000,- 3 { v received af {000, and loans for account of othets Poultry, alive—Chickens, young, 20a | local factory, this represents only about |emounted to $165. tnl;u?non‘,1 c?mt?‘lwrs 30; old hens, 19a25: Leghorns, 14al8; of what will be packed when | with $163,000,000. Demand loans con- Toosters, 14a15; ducks, 14a20; crop is harvested, canning |stituted $945,000000 of the total, pair, 20a256; Guinea fowls, palr, \75. y officials stated. against $921,000,000 a week ago, and Eggs—Receipts, 1,057 cases; 'current —— {52 Joasis were $398,000,000, against | receipts, 17a18; hennery whites, firsts, SILVER QUOTATIONS | $408,000,000 21a23. . | The New York Federal Reserve dis- Butter—Good and fancy, creamery,, NEW YORK, August 21 (®).—Bar'trict rediscount rate remains un- | 26a31; ladles, 10a20; process, 31822; giiver steady and ' higher at 27% changed at 1)z per cent. { STOCK AND BOND AVERAGES By the Associated Press. A 24 3 gBeeETeutvy o w23 25 -4 epeals w8 % :n,~,w 3 13 © EE im0 SEew B S wn e ol o 28 p R - 1l 45 180 99% s § 188 160 58 D T T EEIITS, &8 e = HppERCEe ch2E e 439 Southw Nat G eSoinlanatiit b 2g0an FEEr store packed, 15a16. Hay and Grain Prices. Wheat—No. 2 red Winter, export, mo | quotations; No. 2 red Winter, 1 spot, domestic, 51%; August, 51%; September, 517 Corn—No. 2 yellow, domestic, 60a61; cob corn, 3.2583.35 per barrel Oats—No. 2 white, domestic, 31a31%%; No. 3, 30ad0i% Ryc—Nearby, 40845 Receipts, none. General market is quiet. Receipts ample and d movement slow. Competition sturage making iiseif felt. Fafr to geod timothy and clover mixed hay (old) ranges from 1500 to 19.00 per len. Between seascns now and aftus- tion very un 1, white. 9.00a8.50 per an agreement would be reached. One more tion has been added the billion-dollar group . Inasmuch as the combine should make possible the introduction of many 4 | economies, one may with a cer- tain degree of favor the effect of the combination upon the companies in- . Sinclair, Tide Water & Gas, Prairie Maj. | who had often walked over through gardens. our sister and the 53 i 7S Bl Block sales today. 10.000 shazes. Helland Pur Co, 8s 36 100 1060 Toeull UL 6s ‘40 1000 Nat Pub Ser 85 78 Bond sales today, $3.500 the », Py e RO S e T e N 20 Utilities. 162.3 165.5 FOREIGN EXCHANGE. (Quotctions furnished by W. B. Hibbs & Co Nomina! gold & 28! R Today Previons a3 ey , espec: - oo« 7 E them letters. So I went over Arst thing :o years ago 8 o £ Y f this and bronght' the superin- “Right not to be satisfied,” commeited Dis chief. “Willful murder. What do you hay wasn't sa London, pound Zurich, Athens arachma rid, ‘pese Vienna, ‘umfi frane e No. 1 oats, 9.00a10.00 per ton. Live Stock Market. Cattle—Rece pts, 1250 bhead; supply: market du'l and lower Steers-—Choice to prime, 0028.00; ton; No. 1 3 ing penso cheeks. “Two months. We had just got en- when we came to se: Mr. = T “Did your aunt approve?” Richmond continued. * fair 8.0008.30; it T 1