Evening Star Newspaper, August 24, 1931, Page 15

“Everybody 3 Business ¢ ‘GAmm GAS m Brazilian-American Dcal in Coffcc and Wheat Seen | |- MUES ;s’m< | as Beginning of Like Transactions, Which Are Likely to Prove Very Constructive. 1AL, “ ~Prev. 1981~ Note—All stocks are sold in one hi Sien, 1ow. undred-share lots excepting those designated by the letter s (80s) (250s), Rate. 4G4 60, Open. High. Lovw. Close. CRE T vgnile 2 21% 4% Allied Mills Inc. % 4% 4w 90 Aluminum Coof Am 726s 116% 118 116 95 Alu Co of Am pf (6). 100 81 Am City P&L (A) a3 10% Am Com P A (b10%) % o vidend Rate. MacMarr Stores (1). Magdalena Synd. .. .. Mapes Con Mfg 13.75 Mavis Bottiing (A)., Mayflower Asso (2) 4 Memph N Gas (80c) Mercantile Strs (1) Mesta Machine (2 Met Chaln Stores. Mid Sta Pet vic B. Mid West Ut (b8%). Mid W Sts Ut b10%.. <an Pipe L (A).. Mo-Kan Pipe L (B).. Miss Riy Fuel bd rts. Mont Lt HEP (13).. Mountain Prod (1)., Nat American Co. Nat Aviation. .. Nat Family Stores. Nat Food Prod B, Nat Investors Washington and Georgetown: Companies Report lnerelse_ .l BY DR. MAX 'lN;n._ in Operating Profits. Special Dispatch to The Star. NEW YORK, August 24.—Is the agreement reached between the United s::m Bf"t'i:u in ;uo}r& to z:_::blexchu;.:‘ of v:ohe"-‘t for elodf- A fee the of e en e lem relating e world’s commodity situation? The age-old ‘ethod of barter may, perhaps, | Contrary ‘to the general downward work where many so-called modern and | trend of gas utility revenues through- scientific methods have failed. After all,| g j out the Nation for the first half of ther p yrar, the Washington Gas Light Co. final analysis, effected by showed substantial gains both for the goods or their equivalent. Gold is merely a month of July and for the yvear to date symth bol rev’etm'{ }:dysthe multitude because of| over 1930. e power it wields. The Georgetown Gas Light Co. also money stedy s 13 per cent il day. |, O e Bwaden, the ntier] showed » big gain in revenues. an in- ; hths, ‘13 a3 | furnishing railway materials in exchange for| Erease in operating income for July, but Persian products, and the suggestion & decrease in operating income for the worked ou ween the Un! an X % her Southern neighbors. ™ N . The Brazilian-American deal may mark Figures Given. the beginning of a number of transactions ‘The Washington. company in reports which are likely to prove very constructive. to the Publie Utility Commission showed To be sure, the coffee trade may possibly re- ] m’”%o""g“m’"‘ 373 sent the arrangement for fear that the mar- TRon, aid Tiom $3350.070.90 i T/ ket might be affected somewhat adversely, first seven months of 1930 to 3,676, since consumption of coffee in the United 611.46 in the same period this year. States is at or near its peak. On the other hand there was a cur- However, ultimately ¢he deal should prove perating expenses from beneficial, not only to Brazil and the rela- $265.700.07 in July, 1930, to $260.261.10 tively small number of coffee growing countries, but to the United in July, 1931; but an increase for the " s'.fiu as well and the very much larger number of wheat producing e L ST I 1N nations. 3% Am Equities 11 Am For Pow 2% Am Founders.. BB T B o 10 i S L ] BrraaleonZianenm > - ). 8% Am Superpwr (pd0c) 81% Am Supers 18t (6) 3 Am Thread pf (25c).. 1% Am Util & Gn B vtc.. 134 °Am Ut&G cu pf 1% . . 15 Anglo Chil Nitrate » Appalachian Gas 3 Arkans NatGas 11% Asso GEEI (A) ¢ 11 Asso G & E purrts 647 Asso G & BIpt (5) 22 Asso Tel Ut (b8%) 3% Atlas Util Corp. 114 Atlas Utilities war 3 At Coast Fieh 24 Auto Voting Mach. 114 BahlaCorp..... s 13% Beneficial J L (1%).. 12% Brazil Trac LW&P(1) 1% Canadian Marconi.... 1414 Carrier Corp. 4 103 Cent Hud G&E pf (6) 71 Cent Ind Pw pf (7).. 8 CentPubSv Del.... 7% Cent Pub Sve A b5% . 17 Cent WestPSAall 6% Cent Stat El (b10%). 1 Chain Store Devel. 7 Chain Stores Stock 124 Chat Phoenixnyv (1). 88, Cities Service (g30c) 6114 Cities Serv pf (6)... 315 Claude Neon Lts Inc. 40 Clev El Ttlum (1.60). - % Colon Oil t 2 Col Ol& Gas vic 815 Col Picture vte(75¢ 1% Cmwlth & Sou war 8 Com Wat Ser g12%e. 2 Consol Copper. . 18 Cont Sharestv pf.. 17% Cont Shares pf (B - t at midday and Cities off a small fraction. Cities Service preferred declined a half point. Foreign Power warrants, West Utilities and United Light NEW YORK. August 24 (#).—Call Nehi Corp (60c) N Eng P 8 pr len Newmont Mining.... Niag-Hud Pow (40¢). Niag-Hud Pow A w., Nipissing...... Nitrate Corp Chile B. Nor Am Aviat A war. North European Oi. Nor Ind Pub 8 pf () Nor Pipe Line (t4).. Ohio Pow pf (6)..... PacG & E1stpf 1% PacG&EDL1.37%. Pan Am Alrways, Pandem Oil...... S50 Paramount Cab Mfg. Parker Rust Pr (3). . Patterson Sarg (2) .. Pennroad Corp (40c) Peoples L&Pwr (A) Perfect Circle (2) Phila Elec pf (5). Philip Morris I Phoenix Secur Cos Pilot Rad Tube A. Pitney Bowes (b4%) Plymouth Ofl (1).... Polymet Mfg. ... Prod Roalty (b10%). Pub Util Hold war. .. Pub Util Hold xw.... Rwy & Lt Secur (13) Reiter-Foster......, Republic Gas Corp. . Reybarn Co. .. . Rannan » k3 2uRnsnTnSna 22, Bankers 30 days, 1a1% months, 1%a: -00 days, 1al’ 5-6 months, 1%al I8 il i g £ % 102 33% 1% L g £ 33u 334 111% 111% 20% 29% 27 27% 25% & 5% 80% 22% 5% 4% = i E3ERE 8 ince sterling credit . Some buying of 1 Lon noted from E of British shares tion to sell their f 5 {i . Dr. Max Winkler, f 222833288 3 year et Income of the W shington e of the Wai com- pany, derived after deductions of intcr- est on lohg-term debt, miscellanesus in- terest, amortization of debt, discou:t and expense, and miscellaneous, a gain from $33,552.27 in July, 1930, to $40,321.44 in July, 1931, and from $577,842.75 in seven months 1930 to $760,949.46 in the same pericd this year. v income gained from $81,- & Concerning Oil Mergers. ‘The United States is Jndumy returning to where it set out from. As a result of the Federal anti-trust action in 1911, the Standard Oil .| Co. was dissolved and a number of so-called independent concerns came into being. A re-combination in part, at least, of the original company is in the go ess of being worked out. Two units, comprising the Standard Oil Co. of New Jersey and the Standard of California, are understood 4| to be discussing a merger which would create a company with total assets of about $2,400,000,000, and a working capital of substantially over $600,000,000. If a combination is effected, it is sogdessss Mot elEtnmatanels] i ¥ e 58: :2—5';1 e 5888 g8sgtas! g3§338snsas: . g e onen S ons s s B S Wrrflnc 461.26 to $100,223.28 in July; and from $906,608.86 to $1,237,542.43 for the com- parable seven months of 1930 and 1931, % <8582 5gE, =% > 35 quences of a large accumulation of the yellow metal. If nations whose obligations abroad are heavy do not possess the d with which to meet payments, to resort to other measures if g2 e 3 3 ! &l . P ofEEQ a3 >&28 i Seaboard Util (28¢).. Segal L & H Selected Indu Sle Ind al ctfs(5 § 2 Creole Petroleum 7% Crocker Wheeler 3% Crown Cork Intl (A). 1714 Curtiss Mfg Co (A).. % Curtiss Wright war. %4 Cusi Mex Mining. ... % Dayton Air & Eng. Ce 1 EEE 'S! - 82833228 T . i i she is taking drastic steps, including the suspension for one month of the importation of a long list of articles, many of American manufacture, such as au- tomobiles, radio sets. electric refriger- ators and phonographs: | (Copyright, 1931, by the North American Newspaper Alliance, Inc.) i Shenandoah pf ( Sherwin Wil (14 Singer MIg (+15).... 5 % South Penn Oil (1. SoCalEdpf A (1%). SoCalEdpfB (1%). Sou Cal Ed pf C(13), South Col Pwr A(2). South Corp.......... Southl@ Royaity 20c. SW Bell Tell pf (7).. % SWGEEDPL(T).... Stand Oil of Ind( 1) ,. Stand Ofl of Ky 1.60. Starrett Cor) . 7! £ Sk s 28323 = 2 ¥ e gained for creased for the uven‘::;::l‘:‘ i‘relb:t 1 36841 10 $104.486.43. S VERSESS 2! FRF NOwud>! = 20% Dres (SR)A cod(3%) % Duquesne Gas. 1% Durant Motors 31% Elec Bond&Shibs % ) 89% Elec B&Shcupfs.. 101% Elec B&Shpt (6)... i 11 Elec Pow Assoc (1). 9% Elec Pow Assoc A (1) 14 Elec P& Ltop war. . 9 Kl Shareholdg(b6%) 1% Europ Elecdebrts. .. 1 Fageol Motor. .. 10 ¥inCo Balt A (80c).. 1% Foltis Fischer Corp. 143 Ford M Can A (1.20) 22% Ford Mot Can 9% Ford M Ltd(36 24 Fox Theater (A) 90% Gamewell pt (6) 4 Gen Aviation, 8% GenE Ltd res . 65 Gen Pub Sve pt (6).. 3% Gen Theat Eq cv ! 20 Glen Alden Coal (4 4% Goldman Sachs. 19 Graymur Corp (1)... 38 GuifOilofPa(l%). 18 Hackmester Lind. 2% Hamilton Gas ret: 9 ‘Hazeltine Corp ¢ 4 Hecla Mining (40¢).. 2% Hygrade Food Prod. 86% 11 Pow & Lt pt (6) 9% Imp O1l of Can (0 8% Imp Tob Can (35c) 9 1Ind Ter lluOll A 22 Insull Inv (b6%). ... ' Intercontinent Petn. 8% Int Petroleum (1)... B FFEESE g e 2°55 Swg o~ s P =S '3 "esidide 2 a% ifis - :,8‘* =3335e5, gulizy Li Sgsg 4g EEE o P T 31 5 E Butter—One-pound prints, 32; tub, 31. Eggs—Hennery, 25a26; current ceipts, 17a18. i Poultry, alive—Spring broilers, 3 {pounds and over, 29a30; 2 to 2% pounds, 27a28; 1% to 2 pounds, 24a25; Leghorn broflers, 23a25; hens, large, 23; small, 18; roosters, 12a13. Dressed—Spring broilers, 3 pounds and over, 38a35; 2 to 2! pounds, 20a 30; 13 to 2 pounds, 26a27; Leghorn| broilers, 27a28 Mn.l.u.llll;?. 25‘3’:; land ducks, 21822. RSO Meats — Beef, prime, 16'%; choice, 151:a16; good, 147.815; Texas steer, 13 ’ | 8l4; cow. 12; v-‘ll.otop, 15a Grain Market By the Associated Press. P T L A ¢ ar &N e Strook & Co (80c) Stutz Motor Car. Sun Jnvest. . Focdul 8 B Sun Invest pf (3) Sunray Oil (b5%) 4 Tampa Blectric (32). Technicolor Inc. ... Tech Hughes (80c) . . Trans Lux DLPS.. Trl-Cont Corp war. .. 4 Ungerielder FinCp. . Ko Fages 58 " i i 301d at the seadon's lowea Jévels. " Gors since sold at the lowest price 1900, wheat since 1852 and oats 1897, howed Tather ‘stubborn and FEEEF T Eomwiei S5i55ee5 of fur- York is # f X3 legree of l&lhl.lll'y .'&l‘lhm [{ of lm ther improvements; that P ks UnitLt&PwA (1).. Unit L & Pwr p£(6).. U S Dairy (B).. « U 8 Elec Pow ww. U S Playing Card 23 U 8 Radio & Televsn. Uni¢ Ins (1%). .. Utll P&Lt(at1.03 Ttflity Equities Van Camp Pkg...... ezuela Petroim. . Walker (H) (50c)... Wilson Jones (133).. Woodley Petroleum o o emnrss! Eees H 5% 187% 6 234 T 6 LR 18% 10 167 494 (4 15t I ¥ H L i sf % 28 8% 5 an Y b % 14 2% erage, hunle , 31; strip bacon, Pruits—Watermelons, loupes, bushel baskets. ] i B f ] Iy Ss3zedss 2 ;! i 208 3 LRLEET & which he is the le: the Delaware laws, 3o a tion of shares, : Sl.g i 24 E i ! 2 .00; OIIDISE: Many recall the meteoric rise of 3 Jemons, 4.506.00; limes, Persian, |~ opy . Eaton out of a quiet Canadian 3.00; California, 1.75a2.00; er ineapples, 3.50a4.50; figs, 5.00; huckle- | December 150 per quart, 15; grapes, 1. [z S58aB9%0nss 355 e gk 3 §.¥ 1 1 1 2 1 3 i 2 2 5 2 4 1 27 11 ] 1 1 4 s 1 1 1 3 1 1 3 1 1 10% 5% Int Utilities B.. .. Woolworth (FW)Ltd 58 10% 2% Italian Superpow A.. “Y" Oil & Gas. . 4 % 1% ‘Vegetables—Potatoes. 82.25; sweet, bushel, 1.50a1.75; toma- , per barrel, 2.00 2833823328283 8833288880082 2e8838 8 B i 2k Ygstn S&Tu pf( I8 % Italian Superp war 89% 894 14 % Leonard Oil... 14% 10 Libby McNeil & 25 14% Lone Star Gasn $fc. 107% 100% Long Iscu pt B(S).. 2 % Louisiana Lan & Ex. 3 b 17 ) toes, two-peck baskets, 50a75; kale, more 50a60; spinach, New Zealand, 1.00: |, RYE- person than he f imoo mmz.?“ums.m ‘beets, m em! b To t'nemx‘"u.sh:‘mm n:u:: of for- | corm Five-dioatn acks. 1 35aL 50: cclery, ECTMEN = | corn, five: sacks, 1. .50; celery, elgn bonds have thus far incurred as a | 15083.00; peas, 3.50; lettuce, iceverz,| INVESTMENT TRUSTS result of the disastrous decline, a new | 3 50a4.50. NEW YORK, August 24 ().—Over- the-counter market: Shrs D.. wiser T By the Associated Press. *Ex dividend. & Payable in cash or stock. dividend. fPlus 5% in stock. 1Partly extra. 3Plus 4% in stock. bPayable in stock. e Adjustment 5 Plus 6% in stock. hPlus 1% in JFlus 3% in stock. kPlus 10% In stock. m Phs 3% in n Plus 8% in stock. p Paid last year—no regular rate. 1] bt LE8 - TE THES b o i i is transac- in stocks on the Chicago Stock i 5 stock. .|EXPORT CREDIT INSURANCE | PROVING AID TO BITISH TRADE ; s S CHECK TOTAL GAINS. | By the Associated Press. Checks cashed on individual bank ac- counts in 265 leading cities of the Fed- eral reserve system recorded an in- crease of 3 Fer cent during the week ended August 19, as compard with the previous week. Total debits, for com- parable periods, follow, as calculated by FERT s ‘e Previous week. Same week las difficulty has been added, against which a timely warning is in order. Many overen - A:u e | firms are em| -pressure sales- men to canvass of foreign bonds, upeehll.m ly mm(h the country banks wi a of ext others seemingly selling out of line. The knowledge on the part of the average investor in foreign securities is admittedly restricted, which accounts for his being by sales talk, which, to the uni conveys the idea of understanding and familiarity with the foreign curities vroblem. France Expands Activities. Prance is gradually expanding her activities, adding new fields by means | of the gold which the Bank of France has succeeded in today ranks to_the United tes. The Baltic republic of Latvia is about France. . The States Steel Corporation of France, is B3 :usigissx_‘ s ;>> FETEEE S 2eB¥Rus o8 i 4 e 2 5S. 3 Latest Move on Part of Government Is| tom Held Constructive Effort to Restore Business Rec:ntly Lost. - o C 87 b “l‘ 2295 e 2y LAl & ._ HEFERE 8, S AR *e3.-555.088 e oo, ™ . SESESES of se- bt/ .. 5555 *8 * & T nflm:? fs ny ', T shrs gS8E g Sasess fossads iiaiisllztmiflsssfitlfilggg e 3 The present Torm of export credit | similar goods where long-term credit insurance, as offiered by the export might be considered desirable. credit guarantee department of the British Board of Trade, represents an extension of the third attempt of the overnment specifically to stimulate imuh export business by offering as- sistance in connection with the finan. clal end of transactions, savs H. R at- £ A VESEES e NEW YORK, August 24 (#). ’met: electrolytic, spot and future 7'%4a %. Tin steady; spot and near- 25.80; future, 26.00. Iron No. 2 fob. Eastern Penn- 15.50a16.50; Buffalo, 15.00a X Alabama, 11.00a13.00. Lead steady; spot New York, 4.40; East St. Louis, 4.22. Zinc quiet; East St. Louis, 28 255 T, © el aRan = 8E3T3232! LR nited Kingdom e: | sla_in 1930, £4,147,631 was insured for 1 payments with the £ Tt W el that the latter assumed liability to the extent of approximately 60 per cent. 3 Sigs TR b 3 the first guaranty scheme was not en- | couraging, and in 1925 the government | appointed a committee of business men, | | including bankers and insurance offi~ cials, “to examine and report upon the k) s” o e Az o ) 23854 553 5ssdisdaBEly s2usyest .8 FL K = R ..5;;§;E§ Borcaly s B ™ ] 2% 1 53 ssifissests 3s8s 8% a - The of financing trade ness has evolved and been refined into a more thoroughgoing and acceptable practice to meet normal business risk tly, with insurance. and command- exi ll‘the current | £ was an early post-war service under whiclf the Board of Trade was author- | this tent to which benefit may mfll’ | o acerue to the export trade trom in- | surance against the risk of bad debts: irade it |% consider wheter it is necessary in connection for the state to take any sction toward suppl m | Tacilities, and, if t :nwn mm“l:x‘ it desirable, to frame a scheme.” The committee consids evidence ‘h’wlheflllldpolnlcol emdn.unk- ficials; n e in March, 1926, it unanimously conchuded: the | “(a) That & demand exists for the in- first undertaking 11919 took the form of cash the government to-exporters % | their shipments to certain southeastern opean countries, in need of economic rehabilitation e amoun » governing act of Par- the total amount that | pisy et advances contract n 19 From a‘lm of the scheme in Finally, the busi- and surance of credits for e; 3 which is not unsound tn character; (b) that the existing facilities are not ade- t their extension would be beneficial 1o the export trade of this country, vided that due caution is eum avold encouraging unsound business. The committee observed that, since | the flunnty scheme came into effect in 1921, new bills had been to the amount of some £6,000,000, with should be retained as a fi oty g, (& shou uj mu ‘n.\l”m—, before w’:‘ the part of the government. ‘ufi“m"“";‘o\‘.“.,{” o ru:: ly in more periods of the present scheme, m’llg]lllnce the t | at the !urnu- given WM' . 1,201,045 to March 31, o 4 to March 31, l.tr:' al.mlu to March bR of- 926, 70 1, Guate 1o, meet this demand, and (c) | - eis o The opznnn{.:mounh of the Credits Guaran nt show, on the strictly 1 side, a deficit of £55,326 for the year ended March 31, 1929, and a deficit of £72,063 (esti- mated) since the scheme’s inauguration in July, 1926. (These totals are ex- | clusive of the administrative costs of and the the o t‘d-chu: u:d of guaranty e. a parliamentary business, but include the administrative cost of thes present scheme.) ‘The net premium income (less re- funds) from July 1, 1926, to March 31, | 1928, amounted to £20,102, and for the | year ended March 31, 1929, it reached ,333. Payments on account of claims from July 1, 1926, amounted to £5, 1929 they per cent of gated £18764, or 47.7 net premium income. | S el Extent of Stock Lo NEW YORK, August 24 (Special).— The market value of 50 representative v=‘malh&donfin)lw¥wththm [u the close of the week ended Satur- | day, August 22, was $15,247,322,369, a decrease of $773,373,789, approximately 5.07 per cent under the value of $16,- 020,696,158 at the close of the preceding for | week, according to s compilation by | Paul H. Davis & Co. 824,895,583, the value of the shares at the close the corresponding week in 1930. FESEPSIIGT 5 vl s ma it et LT s CrEp & SNERFRSEEN 222t SEE 2| E?:u’ o 3f P s 19000489 g S 9 RS 0 s o 25 8523222088128 228383 55 T s 233 S -a;; riBmealiBonalic 3388 Se383ascisn e 2 3532 33Bsasss *) = & § g SEF - F SsczssysBsasisansszaiesey L TET I TR L PRIy ey » FEE 5 3 B3 2BRE22! & F S % | about to grant 1 | $4.000,000 (20,000,000 81" | ditional iblic a credit of ts) for the pur- chase of railway mat , and an ad- cash credit of $2,000,000. Apparently the default of the bonds | of the City of Riga, capital of Latvia, and of the bonds of the Wolmar Rail- | way, guaranteed spot and future, 3.80. Antimony, spot, 6.60. Quicksilver, 83.00a85.00. Mine Fatalities. By the Associated Press. at the Bureau of Mines indi- cate there were 105 coal mine fatali- ties in July, an increase of 18 over the vious month, but 50 less than same month l;u ny-.e"ih i coal dur e mon! Uruguay Takes Drastic Step. was 33,744,000 tons, approximately the ‘While many Americans may derive |same as the previous period. The satisfaction from the fact that their rate per million tons was 3.11 country’s stock of gold is the highest in July, as compared with 3:84 for July in’ the“world, they ignore the conse- of last year. to do business. AND BOND AVERAGES By the Associated Preds. MONDAY, AUGUST 24. N e £ bereegnanes b i ¢ sobiZeu MBS0 .- ity t uity Invest of Trust Shrs o3 2 S, 5 Car Sl Sl % FECRERIIRE