Evening Star Newspaper, August 22, 1931, Page 15

“NLGHT TRADNG Offerings Dry Up as List Yields to Further Selling. BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK. August 22.—After re- versing its trend several times during the first hour, the Curb Exchange to- day moved slightly lower, but offerings continued light. Electric Bond & Share was down a small fraction along with Cities Serv- ice, American Gas & Electric, American Steadiness of the olls, spurts in a few of the automotive accessories and soft- ness in some of the investment trusts flelds stimulated some in- natural gas stocks. . Standard Ofl of Indiana opened up % point, but did not retain all of that gain. Prospects of a merger in- Oll of Kentucky about increased demand for that stock. lines were rather dull. change today sent out demanding a transcript t tions in May Radio & Television, which was suspendid from dealings on Thursday. A statement from the company indicates that its officials were unacquainted with recent market ?omon for the stocks. United Gas lhf\ Republic Gas were both a wer. Perfect Circle featured the automotive ‘accessories, risi 11, points to a record high price for year, following pub- lication of iths' earnings of inst $2.65 in the same les Winterfront opened ¢ 4 L sgsiofgesssitel B o g EEFS IS o s el et & £ : St - i g SR >, . e TErouts 2388: S F e & NP e 28:18! $Rugs: SRR 383058, | Seds f;.. 3 H S & ¥R ¥ ¥ f:ll (3 SR L Eut o il SE R Hgie: 5 83 = £ F il PERIEn () SCELE S TP ges: Sasiie & ¥ 5 4 HaBN883328388388 ! W F ..“.gi Lot S o & F W & iy £ S $3854, 553 * e e 1] i3 . o gul -;'33 e Fho e oy gl ) GEEARS P28 ! eS8t res < B o) o 8 ESssinasFasssaircatistes ne CLS I ' fonet = s E i giiyana & 100% | o4ia | 8 gorm of 88 e - ol 2 wonnl s FIES §! > 3 Ill o "> § Jgd £hdE g e Oy, 28280 RBEL22 ! L L o : e P 3+ >;;,. o> S ¥ : ._;iu i";:;af £, L 33 8338328 e i So2ps>e gsESzierans FagEinie EEFEEES T —— e~ T 2338 £ 852335 SRR S . gesuiss P S W, T 3 Note—All stocks are sold in one excepting those Am Equities. Am For Pow war. ‘Am Found 1st ptD §. Elec (31). Trac (2%) .. 8% Am Superpwr (pd0c) Am Superp 18t (6). ‘Am Superp pf (6) Am Util & Gn B vi Am Ut&G cu pf 1 Am Yvette (25¢). ‘Anglo Chil Nitra ‘Asso G&E] (A) (a1), Ass0 G & 1t (5)... Util Corp. B Utilities war.. Bahia Corp. ... . Blue Ridge Corp.... Brazil Trac Lt&P(1) Bridgept Mch (25¢).. Burco Inc war Butler Bros Cable Radio T vte Carib Syndicate Cent Pub Sv Del Cent Pub Sve A Cent Stat El (b10%). Cent West P8 Aall Chat Phoenix nv (1). 8% Cities Service (g30c) Citles Serv pf (8)... Claude Neon Lts Inc. Colon Oil Col Of1& Gas vtc. ... Col Picture vte(75¢) . Cmwith Edison (8).. 508 Cmwith & Sou war. Com Wat Ser g12% Consol Auto Merch Cont Shares pf (B, Cord Corp....... Cumberland P L (2) ¥ Dayton Air & Eng. Deere & Co...... De Forest Radio. UG P ot R e e T T IPr PTeTpTe I % g Elec Bond&Sh (b8 % Elec B & Shpf (6)... Elec P & Lt op war. Sharhldg pf(a6) Evans Wallow Lead. Fairchild Aviation. .- Fin Co Balt A (80c).. Ford M Ltd (36 3-5¢). Fox Theater (A). Gen G&E cv pf B(6) .1001 Guenther Law (1) Hamilton Gas re! Hollinger Gold( Hudson Bay M&S.. Imp Ofl of Can (50¢). Insull Inv (b8%) Intercontinent Pet Int Petroleum (1) Int Utilities A (3 Int Utilities B. % 9% 22 % 8% 31% % LOW EARNINGS MAY REVIVE MERGER PLANS IN INDUSTRY Slow Sale for New Securities and Desire Of Executives to Hold Jobs Has Checked Combinations. BY CARLTON A. SHIVELY. mergers in this country in recent years | ° 8 reached their height while prosperity floating new stock issues, and generous salve to the feelings of the executives who lost their jobs. No recent mu;rrl have involved sale to the public ermu.‘ and none is likely to for a while. One of the other deterrents to merger im- | pulse is the understandable desire of | executives to to thefr jobs. the Jack of incentive on the . Already it is growing weak in the oil Industry, where conditions sre about as bad as | hundred-share designated by the letter s (80s) (250s). Stock and s | pers, KET Stock and w. Divid 114 Int Utilities war.. Interstate Equi Inter Equ ov pf (3) Irving Air Chute (1), Itallan Superpow A. . Italian Superp war.\ Klein (DE) Co (1).. Kolster-Br (Am Sh). Lake Shore Mines(2) Leonard Ofl. o Libby McNell & L. .., Long Island Lt (§0¢c) Louisiana Lan & Ex. Magdalena Synd. ..., Mesabi Iron... Mid West Ut (b8%). Mo-Kan Pipe L (A)., Miss Riv Fuel bd rt Municipal Service. Nat Family Store Nat Investors. .. Nat Pub 8v A (1.60). Nat Service. . 1081~ . Lot 1% 23% Pandem Perfect Schulte Segal L Vene: Noma Elee (40¢), . Ohio Copper. Outboard Mo Parker Rust Pr (. Pennroad Corp (40 Perryman Electric Petrol Corp war. Philip Morris Inc Phoenix Secur Corp.. Pilot Rad Tubs A.... Pines Wintertr (1).. Pitney Bowes (b4 %) Plymouth Ofl (1) Pub Util Hold wa: Pub Util Hold xw Reiter-Fos! o Republie Gas Corp Rock Lt & P (80¢ Russek's Fifth A & St Anthony Gold St Regis Paper (§0) .. Salt Creek Pro(1.40 Shattuck Den Min. Shenandoah Corp. Shenandoah pt (a3 Solar Refining......, Stand Ofl of 1nd( 1).. Stand Oil of Ky 1.60.. Stand O11 Ohlo (2%)., Stutz Motor Car. Sun Invest. . Sunray Ol ( Tech Hughes (80¢).. Tran-Con Air Tran.. Unit Corp war. Unit Founders U 8 Lines pf. . Unit Verde E: Utll P&Lt(at1.02%). Utility Equities. Woolworth (FW)Ltd 3. % “Y'Oll&Gas....... Receiyed by Private Wire Direct to The Star Office Bales— end Rate. Add 00. Open. High. Low. Close. S 3 2 2 2 2 22% ? 2% 1% 18% 1% s O 00 1 10 0 0 DY 00 ke 900 4 RO N e 8O Ofl g PR D 0 WOW R N RN NN BN HNO AR REBNRE — h O Circle (2). Un be-$1 8t & H (ab0c) - . SR TP 'was dropped until the Standard of New ‘York-Vaccum Ofl deal was settled. ‘Withdra Government totoes, barrel, 1.50a1.75; sweet potatoes, bushel, 75a1.35; beans, bushel, 5081.00; beets, per 100, 1.50a2.50; ocabbage, bushel, 30a35; carrots, per 100, 2.00a 3.00; corn, per dogen, 5a10; cucumbers, 40; lettuce, per crate, 1.75a7.00; lima beans, hamper, 70a1.00; celery, crate, 1.50a2.25; okrs, bushel, 1.0082.00; pep- , 15a25; onions, g:'nloo .50; leyzfi' bushel, 40a50; toma- toes, bushel, 40; apples, bushel, 25a 1:00; , per crate, 2.50; can- | taloupes, per crate, 25a1.50, | Poultry, slive—Chickens, young, 18a 27; old hens, 18a24; , 12a16; roosters, 12al4; ducks, 12a18; 3 pair, 15a25; guinea fowls, pair, b , 778 cases; current re- 17a20; henmery whites, firsts, and f 3 3 26a31; ladles, 19a20; mi store packed, 15816, Butter—One-pound prints, 32; tub, 31. Eggs—Hennery, 25a26; current re- celpts, 16a17. Poultry, alive—Spring broilers, 3 pound and over, 20a30; 2 to 2% pounds, 27a28; 1% to 2 pounds, 24a25; Leghorn brollers, 23a25; hens, large, 23; small, 18; roosters, 13a13. broilers, 3 pounds | and over, 33a35; 2 to 2% pounds, 29a |30; 1% to ; oilers, ; Meats—Beef, prime, 13%4a16; choice, good, 14; 1 3a13%5; honeydews, ; grapefruit, .25; sweet, per bushel, 1.350; beans, 1.25a1.50; limas, 1.50a2. pers, 50a1.00; lettuce, Iceberg, 7.00; corn, 5-dozen sacks, 1.00a1.50; to- matoes, 2-peck baskets, 50a7. 2.2582.50; crates, 1.75; bunches, 3.00; beets, per Electricity Output Drops. Production of electricity during the week ended August 15 was calculated by the National Electric Light Associa- — as 16:35’,%1!,000 kilowatt hours, a Tease .9 per cent, as compared with the same week of last year. ‘The Atlantic Seaboard showed an in- 4 per cent in output above 2 ok o e Cincinnati, St. and Milwa , registered, as & whole, a decrease of 5 cent. The Pacific Coast recorded line of 3.7 per cent below last per a d year, Trade Reports at a Glance By the Associated Press NEW YORK, August 22.—Tabloid review of wholesale and retafl busi- ness conditions and the state of crops as reported week from the following centers, on the ditions in the same areas in the Wholesssle and Retail Jobbing trade. trade. conl 5 oy 0 Bradstreet's this basis of comparisons with con- ing week last year: RS cotisetions Quiet Slow Quiet Slow Comment. h—=Steel output unimproved, but better demand reported; Retailers buy only for immediate needs; suto accessories Loutsville—] fair; lumber quiet; rains help erops. Iron and plants on time; “‘sales” Pk Chicago—Steel year; corn needs rain. steel at 35 cent; coal slow; auto accessory depariment siores hurt trade; slow ves many employment; one mattress con- better. "condition in auto in- wholesale distribution equals last 8t. Louls—Men’s and women's appare! quiet; bullding slightly better; shoe tndustry w—mmw:mmm:mm St. Paul-- dise and min| ing fought. learance “sales” Department store sales Department store trade to last year; immediate sales, but future ‘merchan- ; tourist trade than expected; slightly off; grasshopper menace be- Des Moines—Business in general quiet; corn damage by drought less Kanws sales ; lead and #ine -fi:‘;onluud; o n:rlk. time; " systems to da 2% | gaining imj s f Cin INSURANCE PLANS 10 AID IDLE GROW Guaranteed Employment Pro- posal Watched by Leaders in U. S. Industry. BY ROLLIN M. CLARK. With more than 80 plans in force in this country to furnish unemployment benefits or employment guarantees, disclosed by a survey just published by the Bureau of Labor statistics, it can hardly be said that the United States is not . experimenting with unemploy- ment insurance. These systems are all private or voluntary, representing the effort of industry and labor to solve @ problem that 18 foreign nations have met with public control or authority selves into three broad general classes— the company type, i:lnt-egeemem plans and trade union plans. The com- pany systems number 15 and cover about 116,000 employes, but of these only 50,000 were eligible for benefits in April when the survey was made. Joint-agreement plans now total 1 They were created by joint action of employers and trade unions and now cover 65,000 workers. The third type S pproximate Y et fou a separate in- stances, but covers the least number of employes, 45,000. Whole City in Plan. ‘The most cant of the American is found in Rochester, N. Y. It contemplates the stabilization of employment in the entire city in- stead of in one company or trade. Fourteen manufacturing companies, which employ about one-third of the # | city's industrial employes, are grouped in this venture. In normal times the emplovers finance the entire plan through a reserve fund built up by 2 per cent of their pay roils. In emer- gencies, however, reserve fund is expanded by tontributions of employes and officials, representing 1 cent of their aslaries or length of service. A company plan which seems to be jportant recognition is that of lugn:ufi manufacturing company of cf tl. This firm guarantees its em) stock, slleitie to participate Zave eome into Forward Step. lan which is the hdl"o( in | applied fqr and plan is meny. 'menhvm making needed many persons chases, even while employed. way power will be main- tatned and business ultimately should show substantial gains. The success of the plan, of course, will rest upon the manner in which it is neeln:o:{ industry. Action on the proposal d be vol: § through national trade - filisted with the National Chamber. It would seem, however, that s number of workers could be guaranteed employment under and this ugnemnuuy would & forward o . (Copyright, 1031) New York Cotton Special Dispateh to The Star. NEW YORK, August 22.—After open- ing today with an advance of 10 points, the cotton market lost all the improve- ment the first hour under a weak stock market, but week-end cov- ering disciosed few contracts for sale and prices moved upward sharply be- fore the close. Professional covering and trade price-fixing closed the list at the top with gains of 13 to 18 paints on the day. Spots were advanced & New I:;vin Loan, 2 | By the Associated Press. ‘Trade attaches have advised the Com- CHICAGO STOCK MARKET By the Associated Press. CHICAGO, A 22 —Follow! is the complete ofl“c‘!“fl“ list of uln.‘eflum in mm the Chicago Stock Ex- 5853 2 [ INANCIAL | Everybody’s Business Investors Cling to Policy of Watchful W aiting. Market Scared Into Recession by Professional Traders. BY DR. MAX WINKLER. Special Dispateh to The Star. NEW YORK, August:22—With no new actual deve! importance either in the United States or abroad, the in: public continues to adhere to a policy of watehful waiting, the market entirely at the mercy of professionals. These traders succeeded in Imn#ln{ %&l%fi«sfl.‘o‘:mtho Ng ‘or] ange ay afternoon on the pre- text that a cabinet crisis in England was looming and that a move was on foot in the United States to lower steel wages. There is probably little foundation for %lem" of these things, at least for the time fhh‘e' turnover remains relatively re- stricted, and whatever change of impor- tance takes place in thegprice of sec: ts of sional activity. The elements committed to the bear side find it, however, increas- ingly difficult when they set out to cover their engagements. This is due to the fact that stocks have, generally lm‘klng reached levels where retention is likely to prove far more advisable than a sale. Some of the best informed investors are finnod to adopt a umew’hn more cheer- DR. MAX WINKLER. ul view conc the future, believing that many lines will stage & comeback in the Fall, and that the gain will be more pronounced and somewhat more uniform in the Spring of 1932. An increase in freight rates, amount- and is prompted by his desire to im- ing to as much as 10 per cent, is pre- mr-mmemmmu‘hhmm dicted by Nathan L. Amster, instead of it their interests are 15 per cent which the railronds are |ful consideration, seeking from the Interstate Commerce Commission. It will be recalled that Mr. Amster was prominent in securing for the rallroads an emergency rate in- crease in 1931, and his views, expressed after a visit in Washington, where he talked with various transportation au- '.horlu :lu. should certainly prove of in- Tes! Some observers are of the opinion that only half of the increase applied for will be nted, in which case the carriers will endeavor to effect wage reductions unless business picks up suf- ficlently to render such steps unnec- essary. Legislation 1is requested by E. W. Beatty, dent of the Canadian Pa- lway, to protect the railroads vehicles. According to Mr, Beatty, the timé has come for the Canadian carriers to call upon the various provincial governments to es- tablish control wnich will define the sphere in which the two modes of transportation will function. Something of this character will have to be Idw in the near future in the United tes if the country is in earnest about saving a situation which, it permitted to break down, will have the most far-reaching consequences. ‘The amount of capital invested in the rallways and the countless thousands involved, directly or indirectly, make it absolutely necessary to give serious thought to the rallway question. ‘The increase in rates which has the reduction of ex- penditures are not sufficient. these measures will help very materi- ally, s way will have to be found to solve the more !umxru‘:x"al problem, | Am Ins Stoc] ly in & competi- whole, does not a) and continued weakness in rubber, measures are expected to be taken to bring about a recovery in quotations. A teport is believed to have been made 1111110 4 | ! optimist official of a company can take the place of a dividend onn".he stock hel:, or whether assurances of a S can aSBaassaleaddfowaBBs Ve # FE 3 5 = FSN - RS RF 8. 28 58, S R FRERIEE S Sao ~; ¥ § i H £ %5 are ‘treatment, the matter would be | the stockholders for ap- |¥ 5 3 st et o i STOCK AND BOND AVERAGES By the Associated Pross. SATURDAY, AUGUST 22. 885 998 R syEase i SsEst: 7t - 3585 Eug 2 308! % “‘fi‘#fifl' ¢ seidiubuiiits =+ S STOCKS. i i i 1 i R 9 2 2 it T § receiving care- | C Dismiayed hy the disastrous decline |’ IVEGETABLE SUPPLY SHOWS DECREASE Moderate Shipment of Pc- tatoes, Peaches and Can- taloupes Aids Prices. ties gan is almost exclusively the result of profes- | prod; n Eastern prodt Gobblers Tanged 125 to $1.10, with top price in Pittsburgh. Maine of i ?Eh L i H i AT nfig T ! { 5 1 Ei kets and '"xfi”g $1 to thm 0l g AT~ rier or per 3 -u" land Belles