Evening Star Newspaper, August 26, 1931, Page 14

TOEXPAND TRADE Opportunity in South Amer- ican Field Pointed Out by Author. Special Dispateh to The Star. NEW YORK, August 26.—With the power of the Indian and peon | buying 5 of Latin America growing steadily, American manufacturers should further cultivate the great market to our south, ‘Thomas F. Lee, banker, explorer, a thor and Latin American authority, de- clares. Mr. Lee's conclusions on this subject are contained in one of 12 brochures he is now preparing as a re- sult of a five-month trip he has just completed through the South American countries. In his third brochure, entitled “Eco- nomic Problems,” Mr. Lee says that the “change from the old to the newer con- ditions is slowly under way in these countries. What this means to the American manufacturer may be realized when it is pointed out that out of 100,- 000,000 Je in Latin America, Jeast 95,000,000 ere common laborers. If this class alone improved its eco- nomic conditions so that it might use one additional shirt a year, the Amer- ican manufacturer might add to his output the tidy total of 75,000,000 shirts. The buying power of the Indian and the peon is growing.” Mr. Lee warns our industries that “the Ameri- can manufacturer dare not be unmind- ful of this, for his European competitors | are not.” Expansion Opportunity. ‘Mr. Lee sees Latin America as our | great market today with the oppor- tunity of it being expanded tenfold. ‘While he agrees that,today our manu- facturers and exporters generally are represented by capable men who know much of the psychology of the people with whom they deal, who sell goods cheaper than competitors and include service uut the South American appreciates, Mr. Lee does riot minimize the competition prevalent in Latin “As one travels from our ‘Caribbean wone of infiuence’,” says Mr. Lee, “we become less and less an important fac- tor. When one reaches temperate South America—Chile, Argentina and Uruguay—the best marikets of the Southern Continent—one encounters strong influences working against United States products. The German element in Chile is powerful. it is developing South Chile and German goods are in demand. The complaint of the mer- chant in this country, he explains is one of credit. Germany, it s, gives Chilean merchants from six Argentina Mr. mhzed British pregram to regain trade. One finds propaganda every- to the effect that American "h hdmmlfly fostered by ml s. The news- w\m every bit of news ted to prua.\t the United States in a hd In the recent Nica- Efin , _columns of what \hz Red Cross of France, England and So America was do- ing. Nothing m said of the Red Cross of the United States, except that the Nicaraguan people had ap- pealed to it. thus leaving (he impres- sion that our Red Cross was unmindful of the disaster unt¥ the appeal was ‘made ‘2nd then left the impression that | nothing was being done. Diplomats Needed. “This is mildly typical of deep-seated hostility on the part of powerful forexgn these countries—hostility to tion.” 1l equipped rep:osentatives of North merican concerns today, it is serving w stimulate them, he says suthor points cut that our busi- itives n these southern French and “They should know much of the psychology of the people. They should hsva a full l]'mr! ciation of fl!et" traditions, in- ‘hibitions and tabus. They shmxld know their needs, appreciate the reason for their social and political procedure— they should know them pretty much as | they know uu citizen of South Bend or Oshkosh.” Special Dispatch to The Star. BALTIMORE, Md. August 26— Potatoes, barrel, 1.5021.75; sweet pota- toes, bushel, 1.00a125; beans, bushel, 80a1.40; beets, per 100, 1.50a2.50. cab- | bubel mao CATTOLS, pP' 100, ! THE EVENING STAR (Continued FNI!I Page 13.) Stock and _ Sales— Dividend Rate. ~Add 00. Hich. Low. St Louis Southwn pf 30 Schulte Stores pf (l) 308 50 Seaboard Oll. 16 14% Seagrave (60c). 5% Sears Roebuck (2 56% Seneca Copper % Servel Inc. Shattuck ( Shell Union Ofl.. Shell Union Ol1 pf ~Prev. 1031+ High, Low. 60" 16 65 20% 11 6314 1% 11% 2915 40 10% 3% 44% % an 16% 41 2814 i 10% i H Simms Petrolenm 61 Sinclair Consol Oil. . 1 108 Sinelair Oil pf (8) outhn Pacific (6)... outhern Rwy (m6). | 13% 6 riis Withing (1). 1 ¢1-May-Stern. . and Brands (1.20). and Gas&El (3%) . Stand Invest Corp. .. Stand Oil Cal (h2%) {1 2xp pf (5). | ! 3 erling Sec cv urm ewart V\ arner 5% Tennessee Corp(50c) 18 Texas Corp (2). 29% Tex Gulf 8 hu Tex Pacific Coal, 3 Tex Pacific Land Tr. Thatcher Mfz p! 0 Third Avenue Thompson (J 1) AH | o Tide Water Asso Ofl§ | 8 Tide Water As pf(6) Timken Roller B(2). Tobacco Products. .. Tobacco Prod A t9ic Transamerica (40¢) . \T'ri-Contl Corp % Truax Traer Coal Co 89 Under Ell Fisher (4). 8% Union Bag & Paper.. 435 Union Carb & (2.60) . 14 Union Oil of Cal (2 | 205'% 136 Union Pacifie (10) 83% Union Pacific br Hl Y 1067 95 83% 803 151, 29 5% 14 Unit Am Bosch Unit Carbon. .. Unit Cigar Stores. Unit Corp (75¢). Unit Corp pt (3) Unit Fruit (4). . Unit Gas&Im(1.20).. 4 Unit Gas&Im pf(5).. U S & For Sec pf(6) . U S Indus Alcohol. . . U S Leather (A) U S Leath pr pf ( U S Pipe & Fdry (2 U S Smtg&Ref pf 3% U S Steel Corpn (4). U S Steel pf (7)..... United Stores (A). 28 Univ Leaf Tob (3) 19% Util PEL(A) et2.15. % Vanadium Corp. Va-Caro Chem. . 98% Va Elec&¥wr pf 8315 Vulcan Detin (4) Wabash RR. .. Waldorf Sys (1%) Warn Bros Plctures. Wesson O11&Sno(2). West Pa Elec A (7). West Pa El pf (7). .. West Pa Pwr pf (7). Western Maryland Western Union (8).. Westinghse AB(2).. 2 Westing El&Mfg (U w’ W 50% 551 28% 106% 8% 20% 39 87% 137 4% 29 22% 27 1 107% 4% 13614 a% 1 9 25% 8 17% 98 4 106% 118 11 White Sewing Mach. Wilcox Ofl & Gas. ... Willys-Overland . . Willys-Overld pf (7) Wilson & Co. .. Wilson & Co pf Woolworth (2.40) . Worthington Pump. Worth Pump A ( 85 Worth Pump B (§) 66% Wriglew(Wm) (4) 5% Yellow Truck. .. 14% Youngs Spring (3) 2 Zenith Radio 10% Zonite Prod Sales of Stocks on New York Exchange. 100,000 12:00 Noon..... 6615 i es en sed on" the mm auasterly iPlus & 1 Yate.” b Bayabie tn stock. 8% in stock. b Plus 3% in stock. rred stock. k Plus 3% in stock. m Pa us 87 in stock. D Plus 212% 1 Plus Paid this nn— in s BULL DRNEISHT | BYDROPINSTOCS Bank Failures and Unfavor- able Developments Abroad Check Price Advance. BY CHARLES W. STORM. Editor, the News Service of Wall Street. Bpecial Dispatch to The Star NEW Y , August 26.—Decline of the general stock market late last week dissipated much of the bullish enthu-| the-counter market: B C Trust Shares ‘D" A B & Trast Sha E All-Amer Invest * & Con Amer | Amer | Amer Ammer Amer er Amer { ‘smnm n’f" Inve Tust _Shares. Srat k Gen Eauities Chain & Gen Eq 6% pf Chain Stors Invest n Store Tovest o tered Invest ariered Invest pi’ Ehetsca Exchange ‘A siasm generated by the aggressive oper- | Chelsch Eichame ations of the big group that had been | Gorporate -n-fi“" shares trying to Jift the geperal list by buying |Srum & Foster. ... of stocks for the last fortnight. | Grum & Foster 1ns The fact that prices reccded sharply &w« gnnk Enarcs { on Priday in the face of the strenuous | m.nm.q"“,?";: N efforts being made by the bull oper-| "';:;'W s & ators chilled their enthusiasm and ex- | Diversified Trust D pectations, although they will continue | auuy xnvm gh to adhere to the long side, belleving | First Ames Corp. that liquidation has been about com- pleted and that the market, based on {its strong technical position alone, | Pund Tiis Shares should show an advancing tendency. General Equity A Renewed selling and heaviness of the | Granser Tra e market, however, was due to GeVEOID- | fheoep Tusmsiprs =0 | Pixed had no contrcl. Confidence in an up. Sec Ward movement was first badly shaken | Ini Sec when bank failures were announced in | Toledo. Other small bank closings sub- | menfly announced also contributed to | J; ing the morale of the general pub- | L lie, whom the big bulls were hoping to induce into the market. There was also some real liquidation on Friday, due to the selling of stocks | ‘by some wealthy - individuals, who are ! eponzd fo have raised a large sum of | | money in an effort to bolster up a cer-| | tain banking condition. reports of which | ihave been in circulation for weeks. | This situation 15 now understood t | have been so materially strengthened ! as to obviate any thought cf trouble. | Trade Improvement Expected. One of the main influences making { for stabilization of the market at pres- ent levels is the general expectation #hat seasonal Fall improvement in gen- | j€ral business “should shorily begin. | Many potential buyers of stocks are i '1umng for expansion in business be- per, hamper, 15a30; onions, per 100 | . 175a2.00; peas. per hamper, | 2.502.75; squash, per bushel, 40a50; tomatoes, bushel, 25a40; apples. bushel 2581.00; blackberries, per quart, 12! cantaloupes, per crate, 25a1.50. Dairy Market. Poultry, alive—Chickens, young. 27; old hens, 18a25; Leghorns 13a17 roosters. 12a15; ducks, 12a20. pigeons, pair, 15a25; guinea fowls, pair, 30a6s Eggs—Receipts, 150 cases: current zeoelpts, 20a22; hennery whites, firsts 20a27. Butter—Good and fancy 26a31: ladles, 19a20; process, store packed, 15a16. Hay and Grain Prices. ‘Wheat—No. 2 red Winter, export, no quotations; No. 2 red Winter, garlicky #pot, _domestic, 49%,; August, 48 Beptember. Ofirnr—Nn 2 yellow, domestic, 58: cob eorn, 3.25a3.35 per barrel Oats—No. 2 white, domestic, 30; No. 3 29 Rye—Nearby, 40245 Hay—Receipts, n market is quiet. Re outward mawm;r‘v s;(r‘\\ : of pasturage making itself felt good timothy and clover mixed ha: (0ld) ranges from 1500 to 19.00 per ton. Betwcen sea now ticns very unsettled Straw—No. 1, white, 9.0028.50 ton, No. 2 oats, 9.00a10.00 per ton Live Stock Market. Cattle—Receipts, 100 head supply; market dull Steers—Choice to prime, 8.00a8.25 good to choice, 7.00a8.00; medium to good, 6.25a7.00. fair ¥ 6.25; plain to fair, 5.0025.50 creamery 21222 e. General hay eipts ample 2nd on r to | per fore making purchases. No signs of | improvement in trade have come to! hand the last week, but they are confi- dently predicted with the begininng of next month. \ The fact, however, that there is agi- | tation in the steel industry for a re- duction in wages léads the Street to believe that the steel manufacturers do not look for any improvement in their business in the immediate future. The reduction in steel operations at Youngs- town announced the last week also tended to lend color to this thought. The general market the last week had much to contend with that was unfa- vorable, and thé fact that i did not show more pronounced weakness than did is considered an indication that quidation has been thorough. he unprecedented amount of stocks being carried on margin in brokerage houscs also shows the extent to which liquidation has gone. Bright Spot. A The one bright spot in the industrial | 1 n is the improvem>nt which i ginning to appeer in the oil industry by reason of the unusual steps taken to reduce production. Prices of crude oil | SB! and gasoline have already started to|Gp advance and further price increment ected. The ofl companies have bees making a poor showing in earn- { ings not becau any lessened de- acts but in prices d United Founde: United Founder u' 170t com EE Bl T L ritish Int Ltd A T 8 & P 2 Universal Tm.s “onares: Allis-Chalmers Co, 55 1937 American Metal 0% 3. Rock Jrisnd i 1854 2g0 Rock Island 4s 1934 Chile Copper Co. 55 1947 Denver & Rio Grande 4% Gen. Mot Accep. Corp. General Petroleum Corp. Goodyear T. & Grand_Trunk o Gult Ofl of Pa 3s hich has Aoteh Martand Oil 5s_1832 Natlonal Dary Prod. ‘$idsi New York Chi & St. L. 6s Portland General Elec. 85 Republic Tron & Steel 85 1 Sinelsir Crude Ofl Co, s12s uthern Pacific 5s 1934 Standard Ofl N. Standard Ofl N. L 1MS. Ry. ‘Ancther factor which has epntributed to reduced earnings of oil companies is | | the necessity fo writing off | losses on biz Conditions ars now belleved to have been reversed, | 2nd this accounts for the outburst of e enthusiasm which has t in the ofl shares the last bi medium, 5.50a | common | Depressing Factor. INVESTMENT TRUSTS NEW YORK. August 26 (#).—Over- | ments over which the big bull operators 'M'E:“‘Eém Truu Bhares . SHORT-TERM SECURITIES. (Reported by J & W. Seligman & Co.) 1938 S 108 % 1940 General Public Service sl,'- 195 55 1987 3 Cnnndu 6s 1936 1 31 Sorp. s 1947 o: Jersey 85 1948 York 4%s 1981 R &E. 45 1933 c_ Pow. 55 1 CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. 32,8 .NEW YORK, August 26—The fol- lowing is a summary of important cor- | poration news prepared ard Statistics 00 Inc., | the Associated Press. News Trend. Although revenue freight car load- ings were greater than in the previous | week, the gain was smaller than is o tomary at this season of the | Actual loadings for the week :nded August 15, as by the American Railway ‘Association, totaled 742,736 | cars, which compares 'm: mm cars in the preceding week an 3 cars | n the corresponding 1930 ml “All com- modltle! with the exception of mln |and grain products and merchandise | ' |in less than car lots showed an increase. | The Companies. Atlas Plywood Corporation common “ share earnings, year ended June 30, 58 cents, vs. $3.28. Baitimore & Ohio Railroad officials ss'.imll.e 1931 earnings will be between nd $3 a share; earned $7.44 in 1930. 3 ) R -z.=~:“,4., B Bao w3 Commonwealth & Southern July gro=s | i off 6.8 per cent; net after taxes, off 32 per cent; 12 months’ gross off 7.8 Ylenn: | per cent; net after taxes, off 5.3 per|py, cent. Third Avenue Railway July system, $1,394,973, vs. $1.429.7 net after interest on § per cent adjustment bonds, $41.829, vs. $2,066. Boston & Maine Railroad—No action | paid dividend: $1 Buffalo & Susquechanna Railroad July income off 31.8 per cent; SumvatBasan SEFEEL o Missou openunc Ineome off 15.1 per cent; seven months off 8.9 per cent. New Orleans, Texas & Mexico Rail- way July net operating income, $32,981 ' vs. $222,281; seven months, $1,380,204 | vs. $2,360,410. Norfolk Southern Railroad July net operating income off 48.3 per cent; seven ‘months off 30.7 per cent. Pittston Co. emplayln( lbmlt 1, GabhReb rnings expected to app: mm:dmt of $368,491 reported for 1930 peri Shell Uniop Oil reduces salaries 5 to 15 _per cent. Southern Natural Gas—July natural gas sales about 13 per cent above June. Standard Ofl (Indiana) advances gasoline price 3 cents a gallon in Chi- cago and St. Louis territories and 4%; S R e | E nolia Petroleum Co., showing advances of from 15 cents to 28 _cents a barrel. Texas & Pacific Railway July sur- plnx after charges, $217,714, vs. $363,- 806: seven months, $1, uuu vs. $2,- 0!%1?7 nion Pacific Rallroad July net op- ;;ltln':v 1ncm'n!m.!mvt:’l' V!’ 32“01" en mon! 11” oy s 641, vs. $12, | American Radiator & Stanford Sani- | tary gets order for 20,000 radiators for n.-om City project. Booth FPisheries defict, year ended Hly? $1,204,689, vs. net income $325,- 925, equll to $452 a $7 preferred 'fi'lnl!'. % Nashua Manufacturing August sales up 50 per cent from a year 1043, 1-‘0 mills operating at 70 per cent 181 | capacity, vs. 55 per cent to 60 heim, Colins & Co. sales, ded July 31, off 15.8 per cent. United States Stes! wage wule To- ,;“: Better Grade Rail Issues At- 14 | of 'a moderate volume of selective buying New York, for | of | Cope: ‘Tire Co. s R R 2a0- | Washingten Stock Exchange Oniged states 2 | WatR Reehames a0y INVESTMENT BOND | == =< BO! UST ROLES FIRW Sales. . High. 47.. 23 - 8 b = tract Buyers—Earn- ings Disappoint. itk ot k1 Abitibl P&P 58°53. 12 Adams Exp 4848 Alleghany Cp 5s ‘44 Allegheny 5549 BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, August 26—While s large number of new lows were® estab- lished in both forelgn dollar bonds and domestic issues today, the general in- vestment list bud a better tone because | Am Intl 538’49 Am Metal 5%8'34. of issues that have been widely de- essed. i pro 3 Good buying came especially into some of the better grade rails that have 1 been sold down to prices below what the bond would be worth even in a receiver- ship. At the same time the market had a new batch of poor July elmlnp reports to consider, with decreases from the July, 1930 figures ranging from 35 per cent in the case of the Canadian National and 60 per c:nt in the South- ern Railway to over 90 per cent in the case of the Mobile & Ohio. The bargain hunting brought small recoveries in bonds like Baltimore & Ohilo 4%;s of 1933, Canadian Pacific 5s, Denver & Rio Grande Western 5s of 1978, Erie refunding 5s, Great Northern 7s, Soo line 5%2s of 1978, Missouri-Pa~ cific I 5s, New York Central debenture 6s, New York Central 33s, Nickel Plate 6s, Northern Pacific 3s, Pennsylvania 5s fr‘ma and Southern Railway gen- eral 4s. On the other hand, where buyers did not feel warranted in bidding at exist- ing levels, prices dropped rapidly. Alle- ghany, 5s of 1950 fell 1. points to a new low. Baltimore & Ohlo ‘Toledo_di- vision 4s slipped a point to a new low. Chesapeake Corporation 5s slumped. to 2 new bottom on the movement. St. Paul 5s, St. Paul adjustments, Chie & Northwestern 43s, Mis!nurl-l’lmc F 5s, Nickel Plate 41,5 and Frisco prior lien 4s all sagged to their lowest prices in eight years or more. Elsewhere in the domestic list prices were firmer. United States Govern- ments were quiet and only a shade below Tuesday's levels. Hl‘h-ll’ldl D\lb“! utility bonds were unchanged to shade better. McKesson & Robbins 5',! ‘were steady on earnings re| at 51 cents a share, against 61 cents last year. Dodge Brothers 6s gained a small fraction, Pathe Exchange 7s gained a point t6 a new high for the year. Phillips Petroleum 5!s and United States Rubber 5s were strong. The foreign list was quiet. Lary blocks of Great Brlbt:gl 51 at the opening_ were absor! on a rising |scale. German dollar issues were nrm | Prussian_6s _were _fractionally at 50. On October 15, $615,000 of '.he $28,300,000 of Prussian 6s outstanding will be called for redemption at 100, | s0 that investors at 50 have one chance (in 46 of doubling their money in 70 |days. It is one of the few cases of i foreign dollar bonds where the call ;| at par or better is compulsory on the \sinkln( fund operation. A large block of Dawes reparation 7s are to be called on the same date, but these may be purchased in the open market. South Americans were weak with ex- | changes today Am T&T 5%s'43 Am W Wks b3 '3 Am Wat Wkt Argentine 55 '45. .. Argentine 538 '62. Argentifie May '61. Argentine 65 Ju's9 Atchison gn Atchis cv 4%s At & Danv 24 4s 48 AtlC L 1st 4852, AtiC L el 4852, Atl Ref db 55°37 Australia 4%s ‘56 Australia 58 '55. Australia 55 °57. Austria 7s '43. 4 ‘Austria 78 57 ctfs. TEEOEEED Bk of Chile 6%n 57 Bk Chile 6%s'61.. Batay Pet 4745 '42. Belgium 68 '55. Belgium 78 ‘56 Bell Tel Pa 65 B'48 Bell Tell Pa 0 B Ind Loan C 6! Berlin Cy El 68 '55. { Berlin C E1 6%s'51. Beth Stl pm 55 '36 Beth St rf 58 '42. .. Bolivia 78 '58. ... Bolivia 7 Bordeaux 6s'34.... 1 Bost & Me 4%5'61. Brazil 6%s ‘26 Brazil 6%s '27 Brazil 7s Brazil 83 '41. Bd & ith Av §s'43. Bklyn Elev 6% Bklyn Man 6s Bklyn Un 1st 55°50. Budapest 65 '62. Buenos A 6x'61 Pv. BR& Pitt 4138°57, Bush T Bldg hl‘fll. Calif Packing 5: 80 } E FOREIGN EXCHANGE. | (Quotations furnished by W. B. Hibbs & Co.) Nom n’:l gold Selling checks today 2o o—:un!._x | | London, pound Paris. franc Mrlln ‘mark, | Rome." tira. .. | Zurich, ~frane Can Nat 4% 3 '68 Can Nat 4% "55 Can Nat 58 Oct 69, Can Nat 5870 Can Nor 6338 db " 46 Can Nor 7s db "40. . —unme.EZ-.... ) Osio, erown. .. Stockhoim, crown. . TBEASU!Y CERTIFICATES. | (Reported by J. & W. Seligman & Co.) ""Te"““'s‘“nn A Cen Ry NJ g 58 '87. Cert-td db 5%s "48. 126 | Ches Corp 5547 21 C&O 4%s A3, &O04%s B’ n&Q gen 4s ... Q4%s'TT. CuQ 1strf 6s'71. 100"18-33 | 3 -32 100 31-32 SALES. Pot. Elec. 6% pfd.—10 at 113, 10 at 113. Liberty Natl. Bk.—10 at 190. AFTER CALL. Mergenthaler Linotype—2 at 77%%, 5 at 7115, 5 at T1%. Wash. R. & E. u—slooo at 93%. c..p Tnctlon Co—5 | Wash. Gas 55—$500 at 107‘1 Dm ‘Natl. Sec. pfd.—2 at 68. Bid and Asked Prices. BONDS. | FUBLIC UTILITY. Amer, Tel, & Tel %8 CHI&NW 4% 2037, CENW 4148 C 2037, 6 Chi& NW cn 4%s. 102 Chi&NW rf 552037 1 hi & NW 6% °36. Chi Rwys §s '27. Chi RI & P rf 4 Chi R 1ev 43%s'60. 3 Chi RI&P 4%s'52 Chi Un St 5844, Chi Un Sta 6% C& W Ind cn 4852, C& W Ind 5%s '62. Chile 65 ‘60 | Chile 65 *61 | Chile 6 '63 1 | Chile Cop db §s '47. CCC&St L 4%s CCC & St L 58 D63 Clev Term 4%s°'77. Colomb 6s Jan "61.. Colomb 65'61 Oct. . Colo & Sou 4335, Col G&E bs May’| Col G&E cou &8 '81. Asked. a P Sapitar Traciton . City & Suburban 53 Georgetown Gas st Eotomac Elec. cons, 37 Flec 65 5 & Mt ven.un et Washington Gas 4 R 8 o Seres' A Gas 6s. B Wash. Rwy. & Elec. 4s... MISCELLANEOUS. & Ross, Inc., % Amer. Tel. & Tel. Capital Traction Co ashington Gas Light Co. (18). . & W. Steamboat (12) Pot. Elec. Power 67 pfd.. . Pot. Elec. Power 5% pid wy. & El com (7) Rwy. & El pfd (5) NATIONAL BANK. | Con Pow Japan 7s. Copenhag 4% 53, Copenh: Cuba 5%s'45 Cuba RR rf 745 '3 Cuba Nor 538°42. Czecho 88 '51. Del Pwr&L ufi- 11 Del & Hud rf 45 '34. h. | was H TLs ("' iass 0 ropolitan (14} Satsna 50 ! Washington (i3) . TRUST COMPANY. Amer. Sec. & Tr. Co. (15). Cununenm 'rrun ®).. Bav. & Tr. 13t} Prince Georges Bk. & T+, ( Ynion Trust (8s) ash. Loan DRG& W 5s” Det E G&R4%8'61. Det Edison rf 58’49 Deutsche Bk Dodge Br cl 6; Donner St 7842, Duquesne 438 '67. Dutch East 16847, Dutch East I 662, Bast C Sug 7% El Salvador 85 Erie 1st con 48 Erie conv 48 B m\vmus BANK. Bank of Betherds (61). ,:n Wnnmfun az): aum rm FIRE rnumulcl 23822228 waRE5.883 1t 1 ot UNI?lD STATES. Sales are in $1,000.) Low. i : i R — — WASHINGTON, D. C. WEDNESDAY, AUGUST 26, 1931 2832288 = ® = CoaBoE-RE "FINANCIAL, F_-g@ FRENCHLEVY TAX ONU. S-BUSINESS Statute of 1893 Is Revived to Apply on Brokerage Activities. Gre Nor 4% Grt Nor 4 @rt Nor 6 SIB‘:: 52 al 4% - Haitt Heock S & e Hungary 7%s'44. < 111 Bell Tell 58 5 Int Rap Tr 65'32 Int Rap Tr7s32... Int Cement 5 '48 .. Int &G N ad 6s 52, Int Hydro El 68 °44. Int M Cp bsret’dl.. Int Match 6s°47... Int MM col tr 63 "41 y Italy Pnbl 18'62.. Japanese 53465, . Japanese 6% '54. . Jugosl Bnk 78 '57. . KCP&LA4%s'ST. Kan City Sou 68'50. Kan City Ter 45'60. Kan G&E 41%5°80.. Karstadt 6s '43 Kresge Found (2] Kreug & Toll 55’59, Lackaw St 58 '50. .. Laclede 5%s C'53. . Lautaro Nit 6s '54. Leh Val cv 4s 2003. of officials here that the tax, if ap- proved by the Prench court, where it was immediately taken the tax- 104% 101% 7% | Lig & Myers 7544 2% | Mo Pac bs F '17. Loew’s 68 ex w 41 Market St 7s "40 Marseille 6s ‘34 Milan §%s ‘52, MIIE Ry & L 5 (Copyright, 1931.) Mo Pac 5s A "65. Mo Pac 55 G '78. Mo Pac 5= H '80. Mo Pac rf 55’81, Mo Pac 5%s A '« 5 Mont Pow Mont Tr 15t 5s " 4 - Montevideo 78 '52. . Mor&Co 1st 4% 539 Nassau Elec 4s '51. Nat Dairy s%s 48. u Nat Steel iis ‘56 Netherlands 6s ‘71 ]7 NEng T 1st Nw S Wales 55 '57. Nw S Wales is '58. 22a24; 23; small, 18; roosters, 12a13, s and orer, 31a33; 2 fo brotlers, ! NY Cnrf 4352 u. NYC rf im 58 N Y Cent db 6s 5. NYCLSel3%s8'93. NY C&StL 41578, NYC&SLLS % sA'T4. NYC&StL 6s'32.. N Y Fd 1st 6%s'41. NY ELH&P 45 '49. u.z..:s;'::g.,.,._ - So Eoloaa cd NY O&W 1st 4"!!. NY O&W gn 48 '55. NY S&W gn 58 '43. Nia Sh Md 6%s'50. Nord 6%s 50 Norf South No Am Co & wa .:2-. Nor Am E 53%s '63. Nor Pac 3s 2047. Nor Pac 4s'97...." Nor Pac 4%s 2047 Nor Pacr 1 63 2047. Nor St Pw 58 A "41. »5385%0a Norway 6s '52. QreShort L Segta. b MR- RS- Orient dev 6s Pac G&E 5842 Pac T&T 1s Pan-Am Pet ll 'll. Pathe Exch 7s '37.. Penn 4% s D '81. Penn gn 4% '6! Penn 433570 Penn 43 s '63 Swiss 5%s ‘4( Taiwan E P 5%871 Tenn Cop 6s°41. ... Tenn EI P 6s A Tex & Ark 5% Texas Corp & Tex&P 1st b Tex & Pac 55 B Tex& P5sC'7 Tex &P 5s D" Third Av rf és 50% [ Third Av adj b Pure O11 %837 .. Read gn 4% A 97, Toho El P Tokio 5%s "61 87 Unit Drg cv 58 '53.. 20 102 Utd King 5%s'37..316 105% U S Rub 1st 47.. 31 68 UnStWE%sS AT, 1 46% Ud St W 6%58A'51.. 18 484 Ud St W 5%sC'51.. 5 45% ern Electric Co. Wes . Rsonasod Wheellng Steel Corp R - by hoatd; no final de- | American ported i \%mn 'xched subsidiary, Nmomllmfl" o contract for over 125 miles | National Union’ (15) STEEL SCRAP PRICES ‘LOWER. o e TITLE INSURANCE. NEW YORK. August 26 (#).—Heavy | mn Coal Railroad commo melting steel scrap gave ground at mn‘ m’" g B ol St T :Il;fiw;gdhl_;ndl Phfl;delphh flu‘r'l!ng the | 30, 815 14 vs. $24.66. veek e Iron Age composite price | mon e Bide re: a”h?fl June 23, and wlthln 8 eenu\ gqu.] m 96 I:Gnu L3 eonmn lh..fl ;; t’l:; a(l)!;l;ar l1’47"1 hr:’finered Novem- | T g n and finished | EARNINGS REPORTED. E"" NEW YORK, August 26 (#).—Amer- t5_plain, 4.5085.25 | Bulls—Choice to prime. none; good | to choice, 4.50a5.00: medium to good. 4.0084.75; fair to medium, 3.50a4.00; plain to fair, 325:3 50; common o plain, 3.00a3.2: vm—choxce to prime, none: good t choice, 4.5024.75: medium to good 0084.50; fair to medium 3.50a4.00; Dllm to fair, 2.50a3.50; commen to| W plain, 1.5022.50. Heifers—Choice to prime. none; good to choice, 6.50a7.00; medium to good, 6.0028.50; fair to medjum, 5.5026.00 Sheep and lambs—Receipts, 400 head light supply; market steady. Sheep 10.00813.00; iambs, 4 000'815 ly; market wur 2 vies, 6.00a7.00; medium, .9027 30: ;" light pigs, 6.65a6.90; t; sup- 10.00. Erie gen 48 Erje cv 58767 Erie 68 Fiat s Finland 6s ‘4! Finland 638G Finland 7s ‘50 Fla E Coast 5874, Fram 1 D T%s’42. French 7s ‘49 French 7%s '41. Gen Baking W,- w Uruguay 6s'60. 2 RPanS o MR~ RNRS o anRnon G3mabonwsne One of the most depressing stock market is the raflroad stocks due to poor earnings being re- ported by the common carriers. The first six railroads to report earnings for wed a reduction in net opérat- nues of 54 4 per cent, compare y. 1930. s Utah P & L 55 '44. Util Pw 58 '59 ww. Util Pow 58 "47.. Vanadium St 5541, Vienna 6s°52... Va Ry 1st 5s ‘62 ..w_-.E!.. Saxon P W 6138'51. Saxon 78 '45 Seab A Lev Seine 7s '42. S anuanena compnared with July, When considerat I there is rs of transporti- on securities have become apprehen- sive. The onl7 hope would esm to lie either in an advan: freig! ates or | a reduction in the wages of railroad employes. Those blg operators who have been working strenuously on the canxt,xumve Side of the market are expected to Bitos (el aggtassine actie senin ik week. A reduction in steel wages Wi undoubtedly contriute latgely toward crowning their efforts with success. rrisht, 1031, by Nort 7 (Cop: L by Novh fi-"m News: a.:. stec] composite prices are unchanged | ican Safety and at $1550 ton for pig iron and 2.116 | wholly owned subsidiaries today re- conts a pound for lte! POTATO l T. for the first half ARKET T4, caual £ $040 . Shane com CHICAGO. August 26 (™ (United ‘with ‘tates Department of Agriculture) it | Potatoes, 76 cars; on track, 249 cars. | total United States shipment, 463 cars. about steady: treding numr slow: sacked, per undreawek Cobblers, 1.20a1.25; ordinary, 1.00a1.05 Idaho 65 No. 1, Mis- Sinclair Ol 6348’38 8inc O 78 cv.A 37 86% | Sinc Cr O 6%s '35 Sinc P L 65’42 Soissons 6s '3 Sou Bell T&T §s 41 Sou R 48 55 West Union 58 °51.. ‘West Union 58 '60. West Un 6% °36. . ‘Wil & Co 1st 6541, Tesn AT to A . 85% 851 Ygstn S&T 5s B'70. e waSonrwend flmaff sf db 6536 Grand Trunk 7540,