Evening Star Newspaper, August 24, 1931, Page 14

FINANCIAL NEW YORK STOCK EXCHANGE | /BONDS DEPRESSED | (o row o BONDSmocxmcmce] || IVE STOCK PRIGES TONEN LW N ’ I SUGHT DECLNE ‘(-'1-'1 !-3 l.nTlAlu’) 111 Cent 4% '8¢ o3 ua;i 5. [Selling of Railroad Issues {Yearlings and Heavy Steers Unsettles Market—Trad- Advance, but Other Classes 1102 9 102 9 102 9|1 108 108 108 71 TlI Steel 4348 40 108% 103% ing Moderate. Are Easy. 104 29 104 26 104 26 101 9 101 6 101 6| Inland St4%s A'78 14 Ll Inland St 4% s B'S’ % 65 BY F. H. RICHARDSON. Associeted Press Parm Editor. Special Dispatch to The Star. 102 21 10221 10221 102 22 102 22 102 22 | Int Rap Tr 58 °68. . 102 29 102 28 102 28 | Int Rap Tr sta '66. 2 106 12 106 12 106 12| Int Rap Tr 6532 108 6 108 4 108 4 11211 11210 11211 NEW YORK, August 24.—Railroad issues led the general bond list into new low ground again today. Once more the movement was accompanied by a strengthening of high-grade public util- | A ity bonds, United States Ogvnefllm-“l and municipals; but this, marking the ight of funds to a safer refuge, caused the weakness of railroad issues, in- dustrial bonds of & speculative nature and foreign dollar descriptions to appear all the more acute. Trading was not particularly heavy except in a few isolated issues. Owis ! to the new crisis in England there were large offerings of United Kmm The £ Stock and Sales— ] Dividend Rate. Add 00, High, 10% Simmons Co. . . 7 16 6% Sinclair Consol Oil.. 77 Sinclair Ol pf (8)... Skelly Oil. Skelly Oll pf ww.... Sloss-Sheft Steel pf. 120s Socony-Vacuum 1.60. 51 Solv Am pf ww (5%) South Port Rico Sug Southn Cal Ed (2) Southn Pacific (6). .. Southern Rwy (m6). Southern Ry pf (5).. Sparks Withing (1) .. Stand Brands.(1.20). Stand Gas&El (3% ). Stand Gas&El pf (7). Stand Oil Cal (h2%). 8% Stand Oil of Kansas. Stand Ofl NJ (12). .. Starrett(LS) (12%). Sterling Secur pf.... Stewart Warner Stone& Webster(m2) . Studebaker Co(1.20) Sun O1] (M1).. Sun Ol pf (6). Superior Oil Sweets of Am & 5% Tennessée Corp(50c 18 Texas Corp (2) Tex Pacific Coal&Oil 29% Tex Gulf Sulphur(3) 2% Tex Pacific Land Tr. The Fair (2.40) . Thermold Co t Inv(mbbe) o 2 Unit Dyewood. 4 Unit Fruit (4). Unit Gas&Im(1.20) 106% 981 Unit Gas&Im pf(5).. 12% 5% U 8 Hoffman.... 77% 24% U S Indus Alcohol. 10% 3% 178 Leather........ 37% 20 US Pipe & Fary (2).. 204 _ 17% U S Pipe&Fy 18t 1.20 364 7 1315 U S Realty & Imp(1) 20% 104 U S Rubber . 152% 83% U 8 Steel Corpn (4) 150 1861 U S Steel pf (7).. | 9% 3% United Stores (A). 41% 28 Univ Leaf Tob (3).. 60 9% Univ Pipe & Rad pf6¢ 108 31 __19% Ut P&L(A) et2.15. 15 dsco Sales pf (=10 State Banks Are Finding Out !'Value of Membership in System. PEEEE] 51 w > s 4+ US4%s47-62., BY C. B. UPHAM. ‘The value of membership in the Fed- eral Reserve System is being illustra to the State banks of the country by events. connected with recent bank failures. The of one Toledo bank last week was said mmn-:eflm'.ehnt . ,2_0 t a about because of the fa ‘Btate Abitibl PAP 5553 Alleghany Cp Int M Cobs ret’41.. 38 Allegheny 58 Co 68 ret’41 Int Match 58 '47... 24 Int Pap 6m A "47. Int Pap 6s '5! IntT&T4%s 83% | Int T&T cv 434 IntT&T 68’5 e [UF- =) FOVIPS VPR P Italy PubS 7s Japanese 5%s '65.. 36 Japanese 6148 °54.. 17 Jugos! Bnk 78'57.. 7 Kan City Sou 38'50, Chem. ... 22 Valron Coal & Coke, 3 71% 38% Vulcan Detin (4). 97 90 m BomBemnmraan T woF ~nRame eral Reserve likely would have been able the Al m%onmue operation. P Co-operative Action. Waldorf Sys (1%).. ‘Warn Bros Pictures. Warren Bros (2. . West Pa El pf (6) West Pa El pf (1) Western Dairy (B) Western Maryland. . Western Union (8).. Westinghse A B(2).. Westing EI&Mfg (4) 152 Weston Elec Inst (1) 19 Westvaco Chlor (2) .. 4 White Motors (1)... White Rock (t4%).. ‘Wilcox Rich A (234). Wilcox Oil & Gas. Willys-Overland. Wilson & Co (A). Wilson & Co pf. Woolworth (2.40) Worthington Pump. Wriglev (Wm) (4). 5% Yellow Truck. . 38 Ygstwn Sh&T €2). 29 14% Youngs Spring (3).. | 5% 2 Zenith Radio 14 10% Zonite Prod Corp (1) 11 ] Sales of Stocks on New York Exchange. 200,000 12:00 Noon Dividend g P“b‘; th nuai cash 3 re the ‘annua sl R the tbere S S 5 R us 4% 51 . ” H i stock. A Paid stoek. 16 in cash e e 1L % Fios 5 In stock. b Fhus 294% 1n stock, Altorter Bros. Peoria and Roanoke | hoos factories resume full operations after | _Delaware, Lackawanna & Western|two weeks' shutdown to permit tooling | R. R. July net operating income off 51 | . 1mtoen. seven months off 26.9 per | Hecla Mining common share | six months to June 30 20 cents, vs. Am Wr Pap 6847, Arpentine 514’62, 18 60 Argentine May ‘61, 4 664 Argentine 65 Ju's9, 2 Argentine 65 A ‘57 Argentine 65 B ‘58, Arm & Co 4%5'39 Arm Del 538 '43. Atchison gn 4s '95., Atchis cv 45848, AtICL1st 48'52... At & Danv 4s'48. At Gulf 68'59. . Australia 4%s ‘56 Australia 58 ‘55 Australia 58'57..., Austria 78’43, ..., Austria 78°57 ctfs, B&O4s'48 Karstadt 6 °43 Kreug & Toll b Tackaw 8t 58’50 Lac G St 1. 55 ‘34 Lautaro Nit 6s " 51,8 at the opening and this dropped over a point to & new low. 58 of 1947—the largest foreign issue listed on the New York Stock Exchange, with over $2.088.000,000 outstanding— and the 5s of 1990 were also at new minimum prices for the year. German_dollar bonds were swept down as the whole European list came under pressure simultanecusly in New York, London, Paris and other conti- nental markets. _Young plan 5% d 3 ts. Dawes Teparations 7s lost 2 point Declines of 1 to 3 points occurred in German bank, municipal and industrial descriptions. There were losses even in such conserative issues as Swiss 5.5 and n 58. Serb- ian 7s, Italy 7s, Vienna 6s, Austrian 7s and Greek 6s were also lower. South Americans were affected by the general situation and also by reports from Argentina indicating a more acute crisis there, with some doubt now thrown on the Argentine's govern- ments determination to meet its October 1 New York maturity of $50,000,000 in gold. News lows were touched by An- tiogua 7s, Chile 6s, Chile Mortgage Bank 6s, Colombia 6s, Lautaro Nitrate 6s, Pernambuco 7s and Brazilian bonds. mm%:." past three weeks an aver- of it $12,000,000 & day has been the market value of to have taken co-operative action to secure help in preventing the tying up of their reserves with the failed insti- tutions from em] them. Like- Loriliard 68 Loriliard 53 Lou G & E1 5 L & N uni 45 '40. L &N 4%5 2003, Man S 1st Ti48'42., Manh Ry 1st 48’ Man Ry 24 48 2013. Market St 75°40. Midv Sti bs Milan 648 '52. MU ERy & L 68" Mil El Ry&Lt 58 '71 M StP&SSM cn M StP&SSM 55’38, MK & T 18t 4s "9 ter Asso Oilf Timken-Detroit Axle Timken Roller B(2). Tobaceo Products. . . Tobacco Prod A 195¢ Transameriea (40c). Tri-Contl Corp . Tri-Contl Corp pf (6) Truax Traer Coal Co Trusco eel (6 9ty 0) 39 Under Eil Fisher (4). 81 Union Bag & Paper. . 43% Union Carb & (2.60). 14 Union Oil of Cal (2). 136 Union Pacific (10)... 83% Union Pacific pf (4). 20 Un Tank Car (1.60).. 20% Unit Afreraft. s 46 Unit Afrcraft pf (3). 13 Unit Carhon. . 4 Unit Cigar Stores. . 52% Unit Cer Strs pf(6) CORPORATION REPORTS » LISt SOrTe 11 2 . 20 94% 031 a8 PSS-S my with cliy ootrespandents, ‘which they count as Teserves. Inck of interest on accounts with the xpenses of by many MoPacik%sA .13 Mor&Co 1st 4% #'39, 1 Nat Dairy 538 °48., 21 102 Nat Rad 614547 1 12 Nat Steel 5s '56. Netherland: "73.. Nw 8 Wales 5857, . Nw 8 Wales 5a '5! 11 NYCgniya's? NY Cent 4598 N Y Centdb 4s 34, NY Cn rf 4345 2013.131 NYCrfim5s2013. 9 N Y Centdb 6s'35.. 19 LR 5. Beigium %849, Belgium 78 '55. Belgium 75 °56. Bell Tel Pa 55 B 43 B Ind Loan C 65 '46 Berlin Cy Fl 68 ‘55 Beth St pm 58 '36. . Beth St rf 58’42 Bolivia 75’58, - | Bolivia 75°69. . Bost & Me 4% s - | Bos &Me 5. "~ | Brazil 6% » Do regular rate. U earnings year ended June 27 $3.09, vs. $6.12. Ry. poration news prepared by the Standard | consin Cen! Statisties Co., Inc., New York, for the $ Press: | g?fi% L ige sty L i & 5 i gés i i i ; El i i g i " i i feature two added c.lors, Persian red snd Persian green. Canned foods generally aj T to have settled down after a p&fm.nl weak- ness in the tri-States. It is not held ‘The 1931 preliminary cherry production in the 10 States for which an estimate is made is placed at $5200 tons, which compares with 106.829 tons in 1930 and 81,021 tons the average for the ceding five crops. The crop in York exceeds the a 3 for the five years, 1925 to 1929, oniy about 70 per cemt of the large crop produced in 1930. U. S. Industrial Aleohol. NEW YORK, August 24 (Special) — Recent strength in U. 8. Industrial Al- cohol reflected trade rather than cor- porate developments. Leading pro- ducers, after waging a bitter and costly price war this year, now are conferring to restrict output mnext year to.avold the glut that marked 1930 operations and consequent price revisions. It is probable that the Government allot- ment next year will be materially cur- talled. ent increase in alcohol prices is sald merely to cover higher cost of & new formula on denatured al- cohol and will not aid 1931 earnings. U. S. Industrial Alcohol faces a fair- sized operating loss for the year. i S i PARIS BOURSE PRICES. PARIS, August 24 (#).—Three ’por‘ cent rentes, 88 francs 75 centimes. Pive | per cent loan, 104 francs 40 centimes. Exchange on London, 123 francs 95 centimes. The dollar was quoted at 25 francs 51 centimes. NEW YORK BANK STOCKS NEW YORK, August 24 (#).—Over- the-counter market; Bant Stocks. LEADING ORGANIZATIONS. ' cents. throughout | Nou Loox FAMILIAR, ANY ) EXPERIENCE? |, Int | June 163,973; seven months 855, vs. deficit $1,689,310. National Manufacture poration passed quarterly first | dividend: paid $1.75 J\K] 1. | "New York Investors met fore Federal taxes une estimated at $272,826, vs. $1,271,717. -Jones Co. omits Ui iterstate Equities liquidating value 30, 1931, $5.01 a common share, | | vs. $8.94 June 30, 1930. Minneapolis, of Ty ‘Genci exciuding Wi: A (exclu s~ Ry.) $407,263. vs. deficit deficit $2,458,- & Stores Cor- preferred income be- six months to J quarterly dividend; paid 37!; cents . —July rwll‘eunent 70 cents a barrel ities. 0 Railway—Working time of reduced by half dey a of shares 3 months to June 30, $3.39, vs. $4.64, Kroger & Baking D e pentogs SO 4 Bht ceni per cent; el per cent: umber of stores in operation (Reported by J. & W. Seligman & Co.) Ofter. Allis-Chalmers Co. Ss 1 American American gL ECER T common share | ,mended-'\me!fl,“.un,"’"fl 05. cent. | Republic Steel operating at 38 per in| Standard Oil of Ohio advances gaso- cent six Tank Car common share earn- months to June 30, 78 cents - TREASURY CERTIFICATES. (Reported by J. & W. Seligman & Co.) (ERTAINLY! \VE BEEN THROWN 0FF EVERY GOOD PLANTATION ) IN W S0UTH! : Washington Stock Exchange SALES. |An;:‘|,1un Security & Trust Co.—10 at Security Savings & Commercial Bank— 10 at 435, 8%.. | Washington Medical Bldg.—10 at 95, 5 at 95. AFTER CALL. llfl;'e’l;lmm Linotype—10 at 77, 10 at 77. % pfd—5 at 111%, Potomac Electric 5/2% pfd.—4 at 110. Oo,lmb?l Sand & Gravel pfd.—5 at 87, at 87, & Bid and Asked Prices. BONDS. FPUBLIC UTILITY. Amer. Tel. & Tel. 4%s Am. Tel. & Tel ctl. tr. §s.. ‘Anacostia Pot. R. R. 5s Apa. & Wash. Rwy. & Barber & Ross, Chevy Chase va Rwy. & Ei. com. Rwy. & Ei. ptd NATIONAL BANK, ERE E 5 & Tr. Co. 15) ust (8) i1} & Trust (14 SAVINGS BANK. Bank of Bethesda (64)... Com. sdme HalE s (30).. 1100 . Mechanics (30)... . FIRE INSURANCE. erican (12) rcoran (10, remen’s (8) . .. National Union " (i5) Colum) Real Barber Co FOREIGN EXCHANGE. (uotations furnighed by Brazil 6%s 27, Brazil 7: © | Brazil 8s *41 Bremen 7s '35 Bkiyn Elev 634 Bklyn Mai 8. Budapest 2 Buenos A 1 Py Buff Gen El 415 Bush Ter con 58 '55 Calif Packing 5540 | Canada 4s | Can Pac 4%s 60 Can Pac bs ctfs Can Pac 5s ‘54 Cent 11l G&E 58'51. Cent Pac 4s '49. Cent Pag Cert-td db 5% CB&Q Istrf 55’71, CB&Q 111 dv 4549, Chi & Est Ill 5851, . Chi Grt West 1-‘:!. Chi M & St P 4s 2 Chi M&SIP 4% s E. CM&StP 4%s'39 C M SBtP&P 55 °75. C M & St P ad) 5 C&NW 4145 C 2037, Chi & NW cn 4%s.. hi & NW 6%s°36.., Chi RI&P gn 4588, &Prias'3s 20 C TH&SE 1n 55 '60. Chi Un Sta 4%s'63, Chi Un Sta 623563, s Chile 7s *4; Chile Cop db Chin GVtRy 58 '51.. CCC&St L 4%s E'T7 Clev Term 5%s'72, Cologne 6% s '50 Colomb 6s Jan "6 Colomb 65°61 Oct. Colon Oil 65’38, Con Pwr Jap 6% Con Pow Japan 7s Copenhag 5s ‘52 Cuba 5%s 4 Cuba R R 58’52, Cuba RR ¥ T;5 ‘36 Cuba Nor 5% 8°42., Czecho 88 '51 Czecho 98'52....., Del Pwr&L 4%s 71. Denmark 538’5 Denmark 63 '4: D&RGrends's Deutsche Bk 65’32, Dodge Br cl 68 '40. , Duquesne 4% s "67. Duteh East I 68'47. Dutch East 1 68'62. East C Sug 7%8 37, El Saivador 8s ‘48 Erie 1st con Fiat 7s war. Finland 53%s Finland 6%s French 78°49. .. French 7%s ‘41, Gelsenk’hen 68'34. . Gen Baking 5% s ‘40 Gen Cable 5138 '47, Gen Motors 6s'37., Gen P Svi3%s‘39.. Gen Th Eq 6340 Greek 6 Gulf Mobile 58 "5 THoe & Co 674534, . Hud & M ad) 65 '57. Hud & M rf 58 '57.. Humble O1l 55 '37, .110 108 Humble 0 5%5°32. 5 ' Hongary %8 '44.. 111 Cent 45’52 T Centrt és NYCLS el 314893, NYC& St L 4s'37.. NY CaStL 4%8'78. NY C&St L 6832 NYELH&P 68 48, NY NH&H 3%5°56. NY NH&H db 48’57 NY NH&H 4%5°67. NYNH&H cit §5'40., NYNH&H ed Nor Pac ¢s " Nor Pacri Norway és '52. Orient dev 538’ Orient dev 68 '53... Pac G&E 5s ‘42 Peru 65’6 Peru 7875 Prussia 6s 52 Public Sery 4; Pub SvG4%s’70 Pure Oil 5%s '3’ Read gn 4148 A "97. Reading 435 B 9’ Rhinelbe 78 '46. i Rio de Jan 6%s 53, R Gr Do Sul 68. Rio Gr W 1st 45’39 RIAr& L ¢%s’3 Rome 6%s'52 Roy D 48°45 ww StL IM R&G 45°38. StL&SF in 45 A "50 Solssons 6s '36 Solvay Am bs Sou Bell T&T 5s ‘41 SW Bell T 55 A '54. Sou Pac ref 5 Sou Pac 428 '6 Sou P 4%s 69 ww. 9514 | Sou Pac 43881, .. Sou P&Or 4%s77. Sou Ry &n 4s°56. .. % StOIINJ58'48... StOII N Y 4%8 '51. Sweden 5%s '54. Swiss 5343 "4 Talwan E P 5%#'71 BE2aBuBuBa® 0aall¥e 2 1 35 7 3 3 10 13 7 16 1 22 6 25 10 7 3 11 28 20 12 3 1 ’ 5 70 kid 10 Rub 1stie 47, FHATH 15 (3 "% 335 53 2. (3 s ] : he Lt :fi!fi. : Cattle—21000 head: calves, 2,500; good e ; ¥ s 2 ® gg5ass - Util Pow 5%s"47.. Vanadium St 5541, 2 e &5 Boavmannnane © gass3s38sfa Ersgsgsgnpizve agfegeiny - = s 80 ‘West Un 635 '36. W EOG%s 37 waw 11-0 ist 634823