Evening Star Newspaper, September 3, 1931, Page 14

THE EVENING STAR, WASHINGTON, YORK STOCK EXCHANG Received by Private Wire Direct to The Star Office. FINANCIAL, NEW (Continued From Page 13.) Stock and Sales— Dividend Rate. Add 00, High. Low. Norfolk & Southern.. 3 3 3 Norf & Westn (112). 5 153% 1521 Norf & Westn pf (4) 108 90% 90% North Am Aviation. 80 7% 6% Nor Amer(b10%stk) 105 67% 66% North Am Ed pf (6). 1 105% 105% 60% _30% Northern Pacific (5). 14 311 31 19% 7 OhioOfl......... 30 10% 10% 58% 31% Otis Elevator (2%).. 3 36% 36 16% 6% Otis Steel. ... 1 <8 39% 251 Owens 11l Glas: 4 30% 5% 08 Pacific Gas& Bl (2).. 9 45% 691 4815 Pacific Lighting (3). 2 52y 131% 116 Pacific Tel&Teleg(7)280s 126% 133 124 Pacific T&T pf (6).. 10s 131 11% 5% Packard Motor (40c) 69 6% 4% 1% Panhandle Pro&Ref. 2 2 50% 19% Paramt-P(m1.62%p) 88 24% 4% 24 Parmelee Transport. 4 2 2% 1 Pathe Exchange..... 1 1% 8% 3 Pathe Exchange(A). 5 5 153 6 Patino Mines. 2 8y 461 Penick & Ford (1)... 7T 361 445 Penney (J C) (240). 55 42% Penney (JC) DL A (6) 1 100 Pern Railroad (3)... 144 371 Peoples Gas(Chi)(8) 18 193 Pere Marq pr pf (5).290s 40% Petm Corp of Am(1) 110 8 Phelps Dodge (1) Phila Co 6% bf (3) Phila&Reading C & T Philip Morris&Co(1) PhLillips Petroleum. , Plerce-Arrow pf (6). Pierce Ofl of. .. Pierce Fetroleum Pillshury Flour i ew&B( ted Corp Pittsbgh & West Va. Postal Tel&Cable pf. Prairie Ofl & Ga! % Prairie Pipe Line(3 Proct & Gamb (2.40) Proc &Gamb pf (5) Pro & Refine Public Sve Public Sve NI f (5) Public Sve NJ pf (6) Tub Sve GEE of (5). Pullman Corp (4)... Tunta Alegre Sugar. Pure Ofl. Pure Oil pf (8)... Purity Bakeries (3). Radio Radio Y Radio Corp (B) (5) Radio-Keith-Orph A. Raybestos-Man 1.60. Reading Rwy (4)... Readinz Ry 2d pf Real Silk Hosfery Remington-Rand. . . Reo Motor Car(40c). Republic Steel. Republic Steel pf. .. Reynolds Metls(1%) Reynolds Tob A (3). Reynolds Tob B (3). Richfield O11. .. Rio Grande Oil. Ritter Dent Mfg 1? a Insur ¢ 0). Royal Dtch(m! afeway Stores (5). afeway Strs pf (6), Safeway Strs pf (7). St Joseph Lead (1) an Francisco. . € FINANCIAL. A—14 ®#% STEEL PRODUCTION CONTINUES QUIET Outlook Has Few Factors of Hopeful Character, Trade Review Finds. Sales. High. Low. Close. Humble 0 57532, 10 102% 102% 102% s. High. Low. Close. D. THURSDAY, SEPTEMBER 3, 1931., Lib 3383247, 2 1087 705 7 102 -,IlllBellTell 58°56.. 121-/. A% 107% TBONDS ARELOWER | (oo BONDS o] [AGREEMENT ON 01 15% Starrett(LS) (12%). 16 16 16% 21 Sterling Secur (A).. 2% 2% 2% 2% 5% 49, ... 8: 7 101 7111 Cent6125"36.... 7 100 . - Ay e T el ik - = |Midcontinent Operators o . o 947 9414 Anxious to Settle East 5 Sterling Secur pt.... BY% . 5 5% 30% Sterling Sec cv pf(3) 30% 30 30% 31 10 % 2 Tl Steel 43540 6 U'S3%s41-43., 11 102 22 10221 10221 P U S 3%s 43-47 102 26 102 26 102 26 | IMland St 435 A'78 8 9474 9414 938, 68%, 2 2 Texas Situation, —_— 8 Stewart Warner. ... 10% 10 10% 25 Stone&Webster(m2). 28% 27 21 284 14% Studebaker Co(1.20). 16% 16 - 16 164 30 US3%s46-56.. 24 106 9 106 4 106 4|INlandSt4iisB's1 11 US 48 44-54 108 4 108 4 108' 4 IntXapTris'es... 5 681 U S 4%547-5 112 12 11210 112 10 | Int Rap Tr sta '66.. 23 68 68 52 5115 8615 By the Assoclated Press. DALLAS, Tex,, September 3.—What~ ever unconcern Gov. R. 8. Sterling 30 Superheater (23)... 30 € 6 Superior Steel. 8% 81 8K % Superior Ofl. 1 1 . o Superior oif iyt o Int Rap Tr 6 11 . High, Low. Close. | Int Rap Tr 7s 32. 1 86% 17% 18 g::z: :1‘!“ fu,?‘ Int Cement 55’4 19 82% 82 Int & Gr Ny . g g1 8% Gr Nor 6852 803 and the Texas Railroad Commission might profess toward crude oil price fluctuations, operators of the mid- tinent area and the Nation waited anx~ 16% Telautograph (140 1% 5 Tennessee Corp(50c) Bi 5 -p 24% 245 26 G Int & G N ad 65 '5: s Int Hyd o1 6844, ey ydro Kl 6544 fously today for some definite pro- duction agreement in the East Texss 18 Texas Corv (2) 33 331 34 Int M Co 58 ret'41 101% 101% flelds. 29% Tex Gulf Sulphur(3) M 9% 10% Int Match 5847 9915 99 I The East Texas area has remained 71 Tex Pacific Land Tr. 90M Texas & Pacific (5).. 55 1 55 90 . . 17% 1T 17% Fe Int MM col tr 65 '41 % 68% fInt Pap 53 A 941 93% D eass. closed under martial law since August 17. Gov. Sterling invoked that 17% The Fair (2.40). 99 The Fair pf (7) B0 % 00 8% Thermoid Co. 3% 3% 4 s T 9% Thompson Prod 1.20. 10% 10% 108 80% 79 IntT&T 435852, 3y Thompson Starrett. . 2% 2% 3w e Int T&T oy 4% 8'33. 4 Tide Water Asso Oils o 3% 102 aae Tide Water As pf(6) 51 53 103% 102% lowa Cent rf 4s ;mukwn(nou p‘f LA.’»)],. sg 64 :gg :gg Italy 7s'51 imken-Detroit Axle % Ital Timen-Detralt Al 108%. 10w J y Pub 8 ik as a last resort to halt unbridi ‘Tobacco Produets. .. I 108 108 Japanese 5%s ‘6 duction. Proration orders had hedu Topacen Froducts. 1001 109 1031 | Japanese 6123 flouted or suspended by court injunc! 1% 10s 1708t | Tukost Bnik tions. Prices slumped until East Texas e RO M crude sold at from 5 to 10 cents a el oot ad vy barrel at the well. After the shutdown, the Magnolia Petroleum Co. and the Sun Co. posted flat purchase rates of 68 cents per barrel. Others continued to buy available storage at the best prices obtainable, Operators Wish to Resume. merica (40c). 145 ‘ont] Corp. .. 58 Trico Products(212). 2 Twin City Rap Tran. 7Y Kan City Ter 4s'60. Twin City R Tr pf(7) 10s g:’ih i I R 3 Kend 51548 w Under Ell Fisher (4). S Uhion Bag & Paper. . Lackaw St 58 '50. Union Carb & (2.60). Laclede 5148 C'53 Union ofl of Cal (2) . Laclede 'vés D:Gflu For this reason East Texas operators L.I\III‘YD‘\" 6!0 54. were impatient to reopen their wells. Leh \.:l ev 4_! 2003. Drilling has not been hampered by the Leh Valley 5= 2003, shutdown. It was estimated there were 1,600 wells in the field August 1 Brig. Gen. Jacob F. Wolters, commandant i the ‘martial law area, said yesterday probably 1,800 wells would be Teady to cpen whenever Gov. Sterling gave them permission. Union Pacific (10)... Union Pacitic pf (4). Lig & Myers 58’51, Lig & Myers 7s'44.. Settlement of the controversy ap- peared in sight yesterday, when the Un Tank Car (1.60).. 1 Unit Aireraft....... 305 Unit Aircraft of (3). 3 Unit Biscuit (2).. 3 Tosw W esw .o T F Long Isl db G837 Unit Cigar Stores. P Unit Cgr Strs pe(6) . Doshlissdatin a1 R Lorillard 7s '41. . Lou G & B | State Railroad Commission prepared to issue a new statute cnacted by the Texas Legislature in the special session which ended August 12. The order would have set the allowable on a flat basis of 225 barrels per well daily. It ignored the acreage basis recommended by the Texas Central Proration Ade Unit Corp pf (3). Unit Electric Coal. ward on advices f le s {rom Chile that a state | % 0 4348, visory Committee. Gov. Sterling _conferred with _the Unit Fruit (4). of siege existed, - Im pf(3).] ; 5|1 to 2 points. 'Chile Mortgage Bank |1 & O 1st0s'48. ¢ Forn Secur. issues also declined. Colombians were | B & O {889 Gypsum (1.60). slighity lower in spite of an announce- |} & O 55 D 2000. Hoffman. ...~ ment that both interest and sinking|B&O68"95.... .. Indus Alcohol. fund service ‘for the 65 of 1928 had| L& O P&WV4s 4l commissioners and apparently disape proved terms of the order. Immediately he directed Gen. Wolters not to pormit any wells in the field to be opened un- til an_executive order was received. C. V. Terrell, chairman of the com- mission, and ' Commissioner Lon A. 7S Leather. . been received in New York. - S Pipe & Fdry (). Brazillans, on which favorable service | ham & Areos 4321, Smith_apparently were aligned against Gov. Sterling and Commissioner Pat Pipe&Fy 15t 1.20 announcements were also made, Aoty texity & Tinp(1) ground s well. Cuban’ ismies” wose S L 7S Rubber 18t of urehgthened by rencwal of the Chase | Beigium 6855, .... ot resn o oy National Bank 20,000,000 loan for 60 Beiztm 63 ) § Steel Corpn (4). 1029 Once again the railroads led the de- | poloiam 1 US Steel pf (1). 18 ¢|cline in the domestic st They led o PR O | been steady at first, but activity picked | pei) Tell ba 58 C'60 |up on the decline and it was not 1ong | B Tnd Loan C 65 46 | before many issues were hovering around | Berlin ¢y 11 68 '35 M. Nefl in the controversy. ib);!e‘.&prr\:-v};oufi l)nwsB [Even conservative | Beriin ¢ 11 63 Gov . Sleri e AL b ccted | bonds such as the Baltimore & Ohio 45 | eth St pm 5 '36. order, tetting the allowable at 205 be | were off over a point. while the | Bolivia 78 ‘38 . - rels per well caily, would “put the 1it- {tle fellow out of business because he {hasn’t the money like the big operator to drill more wells.” Commissioner Nefl declared the pro- ¢ | Jected order merely would “start a race to see who could drill wells the fastest 't | He contended that when the commis- islon had adopted an efficient oil and | Bas ratio, provided for greater spacing |41:5 of 1960, a convertible issue, | Bolivia Ts "6 | dropped 3 points. Losses of a-point or | Bordeaux 65 "34. | more occurred in St. Paul 5s, Chicago of wells and tcok steps to prevent phys- ical waste in drilling and operating methods, it wauld have gone far enough. {& Northwestern 4%s, Rock Island re- funding 4s, Rock Island 4'3s of 1960, He opposed the projected order because it did not ccntain an oil and gas ratio. Delaware & Hudson refuffding 4s. Den- ver & Rio Grande Western 5s, Erle 5, | Missouri-Pacific 5s, general 4s and 51.s, ;| Nickel Plate 4!5s. 5'.s and 6s, Frisco prior lien A 4s, B 5s and 4!,s, Southern { Pacific 41.<. Southern Railway 6'.s and The new conservation statute specifie cally forbade consideration of market de= {mands in setting an allowable. Military Order. Offic'als in touch with the situation | believed the Governor would merely Wabash 47,s. Elsewhere there were also some sub- substitute the new commission order for his original martial jaw proclama- stantial lesses. National Steel 5s dropped to a new low on_th> movement. Anglo-Chilean Nitrate 7s were off 2 points to a new low. American Inter- national 5!5s hit a new bottom. Good- {tion and leave troops in the field to ienforce production rezulations, after | wells were permitted to reopen Gen. Wolters had issued a military {order directing all operators to report l(.l'NITED STATES. ~Prev. 1931 are in $1,000.) High. Low. 34% 5% 9% 40 21% 54 26 40% 18% 1% 6% 21% Prev. Close. Close. 3 3% 152% 153 90% 91 6% % 67 68 105% 105% 31 3% 10% 11% 36 36% 8 8 30% 30 45% 45% 52% 53 125% 127 131 133 f 6% 6% 2 2 235 24% 2 2% 1% 5% 9 3T 424 100% 370 194% ~Prey. 1921~ High. Low. 8% 2% 217 139 93 89 11 4% 90% 56% 10713 102 Political Troubles in South| America Have Depressing Influence on Market. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, September 3.—Bonds were depressed today, influenced by a weak stock market and by new politi- cal troubles in South America and heaviness in continental markets. The list held fairly steady in the first hour, when most bond news was con- structive. The Berlin market was re- opened for restricted trading without the attendant troubles that had been anticipated. Young Plan 5'»s and Dawes Reparations 7s had small gains 315 |t the start. These were extended when o : {word was received from Geneva that " o) Germany and Austria had officially abandoned their proposed _customs union—s dboae 2t contention that had reatene stupt European unity. o862 1*"Bit when continertal markets tumed e | downward later in the morning, the en- | ArEeitine 63 oo tire foreign dollar list went with them.| A centine 65 A "57. Germans “lost their opening gains and | Argentine 68 B '58. went to snall net declines on the day.| arm & Co 4%s'39 British issues held firm, though word | Arm Del 5145 ‘43 had been rocelved that England had | Atchison gn 48795 already started to draw on her $200,- | Archis ey 4% '48 000,000 international credit to Support|at) ¢: 1. 15t 4# sterling quotations. AUCLecl 48" Rpdolf Karstadt 6s were in demand | A¢ ¢ L 4%s ‘64 jat firm prices, following announcement | At Gulf 55 ‘59 that sales for the quarter ended July|Atl Ref db 58°'37 31 amounted to $22,389,493 against| Australia 4%s '56. $24,157,559 in 1930. The figures were | Australia 55 " converted from reichsmarks at 23.8 Australia cents. Austria 7543, The South American list turned down- | oo 0 Sales, Abitibl P&P 5853, ‘Adams Exp 4s'48. . Alleghany Cp 58 '44 1 Allegheny 5849 Allegheny 58 '50 Allis-Chalm 58 '37. Am Chain 6s'33.... Am F P 55 2030... Am IGChb%s 49, Am Intl 53584 Am Metal 5% s "34. Am N Gas 6%s '42.. Am S&R 18t bs '47. Am Sug Ref 6837.. Am TAT cv 425539 |Am T & T 556 Am T&T ¢ tr 68 Am T&T 555 € '60 Am T&T 5%s5'43 Am Wat Wks 65 75 Ann Arbor 4s By the Associated Press. NEW YORK. September 3.—With Autumn close at hand hopes for sea. sonal recovery in the iron and steel trade are waning, Iron Age says in its weekly review. “In neither production nor demand,” the review says, “are current tenden- cies of such a character as to point to an impending expansion of activity. Pig_iron output in August showed & decline of 12 per cent from July, con- tinuing the recession that began in May. Steel ingot production, unchanged from last week at 31 per c2nt, remains at close to the lowest rate of the year to date. “Iron and steel specifications, instead of improving, are barely holding their own. Operations in the motor car in- dustry are still on a diminishing scale, and betterment in railroad demand is| apparently contingent cn the outcome of the freight rate case now before the Interstate Commerce Commission. Construction Chlef Reliance. “Action on considerable pending line pipe tonnage has been deferred. and prospects for business in wire products and agricultural machinery are clouded by the abnormally low levels of prices for farm products. The cxtent of pos- sible increases in miscellaneous indus- trial requirements in iron and steel is still undetermined, since so many ‘plant vacations’ will not terminate until after Labor day. “Construction, much of it of a public character, looms up as the chief re- liance of the industry for tonnage busi- ness. Structural steel awards, at 76,- 000 are the largest since the middle of Ju * * < Increased pressure on public works programs is now being uirged not merely as a method of allevi- ating unemployment, but as a possible means of getting industry off of ‘dead center’, Unless this or some cther way is found to build up general business activity and restore confidence, iron and steel producers fear that retrench- ment policies which began with the re- duction of dividends and salaries, will have to be extended o include wages. “Pig_iron production in August was 1280526 tons. or 41,308 tons a day, compared with 1.463,220 tons, or 47,- 201 tons daily in July. The daily average was the lowest since October, 1921. Seventy-six furnaces were in blast September 1, or six fewer than cne month previous, 12 having beén blown out and six lighted. Production in the first eight months of this year, 13,849,119 tons. was 41 per cent smaller | than in the corresponding period in 1930. 30 691 15 103y 1% 38 50% 54 28% 15 b (540} Manh Ry 1st 45’90, Market St 75 '40 Marseille 65 ‘3 Midvale Sti 55 '36 Milan 6328 52, . Mil E Ry & L 55 61. Mi) El Ry&Lt 5s *71 MK & T 1st 45°90., MK & T adj 55 '67. MEK&T prin 554’62 Mo Pac gn 45 '75. Mo Pac 5s A 6 Mo Pac 5s F '77.. Mo Pac 5s H 80 Mo Pac rf 55 '81 Mo Pacilas A4 Mor&Co 15t 4145'39 Nat Dairy 51is48. Nat Steel 5s N Eng T 1st Nw S Wales 5 N Y Cent 45738 N Y Cent db 4s 4. NYCentqris NY Cnrf 43is NYC rf im 5 N Y Cent db 6s *; NYC LS cl 31,5 NYC&StL4s'3 NY C&StL 4 . | NYC&StLS 2 5 | NY C&St L 65 NY NY 1034 B1% 104 104 87% 12 45 3115 1% 171 607 41 501 37 45% 18 Z 44 6 16 1 62 40 6% 6% 5% Util P&L(A) et2.15 Vadasco Sales Corp. 2314 Vanadium Corp. .... Van Raalte 1st pf. 98% Va Elec&Fwr pf (6). 3815 Vulcan Detin (4)....2: " Wabash RR. ... 21 Waldorf Sys (133) Walworth Co 1 [ Ward Baking (A). | Ward Baking (B). 3 Ward Baking pf (7). Warn Bros Pictures. Warner Bros pf 3.85. Warner Quintan. . Warren Bro . Warren Fd&Pipe(2). s50n O&Sno pf(4) West Pa EI pf (6)... 205 West Pa Pwr pt (7). 108 Western Dairy (A).. 1 Western Dairy (B).. 1 Western Maryland ® Western Union (8).. 23 Westinghse A B(2).. 3 Westing EI&Mfe (4) 848 Westing E&M pf (1) 170s Weston Elec Inst (1) Westyaco Chlor (2). Wheelinz & L E pf White Motors. Wilcox Ol & Gas Overland 99 108 108 05 109 T1% 6 217 N EmalunSanZa | Bos &Me 5 Brazil 6158 Brazil 6135 | Brazil 7s. Brazil 841, Bremen 7s Bk Ed £n A G 691y 977 10815 30%, Auto Production. “Automobile production, which de- | clined to the lowest rate of the year in | August, seems to be headed for a fur-x StL-San Fran pf(6). ther recession in September. Last 3 St Louis Southwn. . . month's output -of motor vehicles in | St Louis Southwn pf. the United States and Canada is esti- ' Savage Arms (1). mated at 175,000 to 180,000 cars, as | Seaboard Ajr Line. compared with 223.181 in July, and in- | 3eaboard Oil . dications are that the September total Sears Roebuck (214 will not exceed 160.000. The Chevro- Second Natl Inv pf. let and Plymouth schedules have been epyeiinic. o e sharply curtailed, and manufacturing i Dep ). operations at the Ford rouge plant | Shattuck (FG) (11 are nct likely to get into full swing until | il late in the month. | ksl‘l l‘nrllf\!n fml'- Only 20,000 tons of new structural | Shubert Theaters steel projects came into the market | ! "“\'r',’,z"l::“g:l;]m‘ last week. Biinms P . The iron age composite prices e inclair Consol O11 unchanged at 2.116 cents a pound for | » NY ELH&P 55 '48., NY NH&H 4% 5’67 NYNH&H cd 65'48 NY O&W 1st 45'92 NY S&W gn 55 '43. NY Tel 41;5°3 N Y Tel 65 '41. NY W&B 413546 Nia Sh Md 5%s'50. Nord 638 '50. Irich 6s were off sharply on a poor statement by its Canadian subsidiary. | Ofl company issues, like Shell Union 58 |and Texas Corporation 5s, were slightly lower, High-grade issues were firm. Some of the best of the rails, like Atchison gen- leral 4s, Norfolk & Wesle:n 4s and Northern Pacific 3s, making hcadway | against the lower trend in rafls. _Utility Can Nat Ry 448'5 Can Nat 4%s ‘67 Can Nat 4%s '68 3 ® 13 Can Pacdbds..... Can Pacific 4125 '46 finished steel, $15.50 a gross ton for | pig iron and $9.08 a gross ton for steel | scrap. Butter—One-pound prints, tub, 30 Eggs—Hennery, 28; current receipts, 18a20. Poultry, alive—Spring broilers, 3 pounds and over, 26a27; 2 to 2! pounds, 24a25: 11> to 2 pounds, 22a23; Leghorns, 20a22; hens, large, 24a25; &mall, 21a22; rcosters, 12al13. Dressed—Spring broilers, 3 pounds and over, 32a33; 2 to 2!2 pouncs, 29a 30; 11 to 2 pounds, 27a28; Leghorn, 26a27; hens, large, 27a28; small, 23; -oosters, 13al4; Long Island ducks, 21 22, 2 Meats—Beef, prime, 17; choice, 16a 16'.; medium, 14al5; good cow, 11; veal, top, 16; lab, 19; pork loins, 8-10 pound average, 26; 10-12 pound average, 23: 12-15 pound average, 20; {resh hams! 19; smoked hams, %1; strip bacer, 22a 23; lard. bulk, 10: package, 10'2. Live stock—Hogs, neavy, 5.50a6.50; light and m-dium, 6.50a6.75; pigs, 6.00a 6.50; roughs, 3.00a4.00; calves, 5.00a 9. lambs, 5.00a7.50. Fruits—Watermelo) Joupes 1.00; a pears, 2 31; 15a50; canta- homegrown, 50a75; shipped i, les, 50a1.25; peaches, 50a%5; a3.00; plums, 1.50; oranges, 3.250550; lemons, 6.5088.00; limes, per 100, 1.25; Persian melons, 2.00; honeydews, North Carolina, 2.00; Cali- fornfa, 2.25a2.50: grapefruit, 5.0085.50; grapes, homegrown, 1.00; California, 2.0022.75; _pineapples, 4.00: huckle- berries, 4.75a5.00; prunes, 1.10; bananas, 1.502.50 Vegetables—Potatoes, per barrel, 2.00a 2.25; sweet, per bushe beans, 1.00a1.25; limas, 3.5024.00: toma- toes, ' 25a50; peas, 3.00; cucumbers, 75a1.00; lettuce, Iceberg, 3.50a%.50; cab- bage, 50; spinach, 1.50; New Zealand 75: kale, 50; turnips, 1.00; peppers, 75: corn, five-dozen sacks, 75a1.00; carvots, per 100 bunches, 3.00; beets, per 100 bunches, 3.0 peas, 3.00. B. & 0. Freight Traffic. BALTIMORE, September 3 (Special). ~—Freight traffic on the Baltimore & Ohio Railroad during the first 20 working days in August held at approx- imately the July level, according to fig- ures issued by the company. These showed that cars loaded and recelved from connections totaled 150,424 in the August period. as against 150.428 in the 20 working days in July. Compared with the corresponding period in Au- gust last year, there was a drop of 48,- 234 cars. Tii daily average day in the August period was 7.521, a decline of 2412 from a vear ago. but the same average as a month ago. DIVIDENDS DECLARED NEW YORK, September 3 (#).— Liquidating. Pe- Rate. riod. 317 Stoek. 1% Omitted. Cont Sec Cor_pf..$1.25 Sou N Gas $7 pis175 Recular. Pay- aole. Hldrs. of Company. Solar Refining Majestic Rovalty 20 Arkansas_Gas_pf AT Bk Rb ‘hase Nat BK... 31 oca’ Cola Bot Al82igc Cream of Wheat . 50c Ecuadorian _Cor Ltd.6fc Guaranty Trust ...$5 Siron & Eric. Mtse! §3 Insull Util Invest 350 b Bt No Am Cream No Faper Sills $6 pf .. . Do."s7 5t " Paton Co e ot 88 o ek & i GBSt Sfate St Exchan Sup Portl Cem Universal Ins . West Penn Elec $1 D A Abitibi__Pow Pap pf . f Mountain Brgd .. Sected " Indus Brior _stock 253 Case Bf.... 3735 i3ic 00 OO p PEOUWOD OO £O POLOOLOD 75a1.00: string | Snider Packing. | Socony-Vacuum Solv Am pf ww( South Port Rico Sug u P Rico Sug pf(8) southn Cal 3 (2)... outhn Pacific (6). . Southern Rwy (m6). Southern Ry pf South Ry M&O ct(4). s spalding (AG) (1).. | arks Withing (1). pear & Co pf (7)... Spiegel-May-Stern. Stand Brands (1.20). and Gas&El (3%) . tand Gas&El pf (6) Stand Gas&El pf (7) nd Ofl Cal (h213) tand Oil of Kansas. Stand Oi1 NJ (12)... 2 105 39% Willys-C Wils Worthington Pump. W Yale § ley Yestwn 107y Zonite Prod Corp (1) Sales of Stocks on New York Exchange. | 10:30 AM. 1:30 P.M. 1y extr | 1ast year—no regula or stock in spec 390 12% 39% on & 5 Wilson & (o (A 7 4] Wilson & Co pf 2 3 Towne (2). Yellow Truck Younsgs Spring (3) . ..1,400,000 Dividend rates as given in the above table are the annual cash | s based on li:}e ll‘lPsl quarterly or haif-yearly deciaration :Plus 4% rate. 1Plus 8¢ 1n stock. s 1 preferred stock: 39% ' no regular rate. n Plus 5% in stock. D Plus 2'2% In stoek. "o. (Wm) (4).. Sh&Tube(2) 2| 10 200,000 12:00 Noon, 0 P.M. . 1,100,000 1,600,000 in stock. Plus 9% in stock. A Paid b Payablé in stock. e Payable in cash h Plus 2% in stock. {Plus 50 cents k'Plus 3% in stock. m Pald this year— CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, September 3.—The fol lowing is a summary of important cor- poration news prepared by the Standard Statistics Co., Inc., New York, for the | Associated Press: News Trend. The general level of commodity prices as of September 1 was at its lowest point since 1915, according to compila- tions of Dun’s review. During August the average prices declined by 2.6 per cent, bringing the decline for the firsy eight months to 11.3 per cent and fcr {the past 12 months to 16.5 per cent. The largest drop for the month was recorded by the breadstuffs group. which receded 9.5 per cent. Except f¢ dairy and garden products, which ad- vanced slightly, all the other groups showed negligible decreases. Compared | with the 1929 high point, this index has fallen 27 per cent. The Companies. Cities Service Co. subsidiary, Empire Pipe Line, July deliveries totaled 2,607,- 823 barrels. { Dome Mines—Tons milled 3 three months ended June 30, 137,100, vs. 13 400; three months ended March 31 average recovery per ton $6.90, vs. $6.48. Havana Electric Railway—Total re ceipts January 1 to August 2 off 24.9 per cent. Holland Furnace—Expects to realize $400,000 profits from orders now on hand. Hollinger Consolidated Gold Mines, Limited—Tons milled, 3 months ended ' ended March 31, average recovery per ton, $5.57 vs. $5.82. McIntyre Porcupine Mines, Limited— Tons milled, 3 months ended June 30, 140,695 vs. 130,940; 3 months ended March 31, average recovery per ton, $7.65 vs. $8.98. Lehigh Coal & Navigation—Workers prepare to return to six mines. - Phelps-Dodge Corporztion — Meeting of directors for dividend action post- holders’ meeting. National Bellas Hess—August Nash receipts up 21.5 per cent, 8 months off 3.3 per cent; number of mail orders re- ceived in August up 53.5 per cent; Au- guest retail rales less than last year. Pullman, Incorporated—Chicago, Great Western Railroad cancels $3,681,603 car lease with company's subsidiary, Pull- man Car Manufacturing Corporation. Standard Qil of New York—Advances tank wagon and service station gaso- line prices 1 cent a gallon to 14.3 cents and 16.3 cents, respectively, in New York and New England. Richfield Oil of California—Subsid- jary advances price of service station and tank wagon gasoline 1 cent a gallon throughout New York and New Eng- land territory. Segal Lock & Hardware—Denies re- port company has signed contract with United Cigar Stores of America for distribution of razors and blades; bank loans now at $58,000, vs. $483,000 at end of !Dgl(} Current year business holding well. “pewmm Pacific Co.—Protective Com { June 30, 412,685 vs. 400,458: 3 months | poned until efter, Scptember 21 stock- | | mittee extends time for acceptance of | exchange offer to cotton belt minority | | stockholders to September 15, | | Standard Oil of Ohio advances gaso- | line prices 2 cents a gallon. | Swedish Match—Ecuadorian Senate | rescinds match monopoly held by a sub- sidiary. | Teck-Hughes Gold Mine, Ltd.—Au- | gust quarter net estimated around 20| cents a share; earned 51 cents a share | in 9 months ended May 31; tons milled | | 3 months ended June 30, 115,200, vs. | 87,810 tons for like period ended March | | 31; average recovery a ton $14.51, vs.| | $17.22. | . U. 8. Lines—Shipping Board said to | | have approved Chapman proposal for | reduction of debt from about $11,250,- | | 000 to $3.170,900, and 3-year moratorium | | on interest payments and installments | due since July, 1930. | | Virginia Electric & Power $6 pre- | ferred share earnings, 12 months to June 30, $20.10. | | Warner-Quinlan Co.—Advances price | of tank wagon and service station gaso- line 1 cent a gallon in New York and | New England territory. | Auburn Auto—August shipments of | | Auburn and Cord cars, 1,803 vs. 2,507 | in July and 609 in August, 1930; first | eight months’ shipments, 32,045. Case (J. 1) Co. omits quarterly divi- | dend: previous payment $1.50 July 1. | Langendorf United Bakeries class B | shaie earnings year endsd June 30, 55 cents vs. $2.16. Pittsburgh Plate Glass — Internal Revenue Bureau announces tax abate- ment, credit and refund of $696,134. | Standard Oil California—California Indcpendent Petroleum Association pro- | tests to United States Attorney General | against proposed merger of company with Standard Oll of New Jersey. | American Water Works & Electric | July gross off 5.8 per cent; net, after taxes, off 3.5 per cent; 12 months’ gross | off 5.6 per cent, net off 8.4 per cent. Connecticut-Power net profits, before depreciation, six months ended June 30, $1,060,434 vs. $1,018.920. Douglas Afrcraft August sales, $94.000 |vs. $193,416; nine months, $3,138,071 vs. $3,055,386. General Motors reduction of refriger- i ator prices from 5 to 10 per cent also | to apply to room coolers and commer- cial coils; subsidiary, General Motors | Building ' Corporation, voluntarily re- | duces rents 10 per cent on all floors of its Detroit building. Graham-Paige Motor Car—Prices re- duced $100 to $335 on all Graham pas- rsenger and Paige delivery cars, Merchants & Miners Transportation —August passenger service to Miami 100 per cent above year ago: Summer business 65 per cent ahead of any Sum- mer since 1925. Middle West Utilities—Electric out- put week ended August 29 up 5.1 per cent over year ago. National Short Term Securities—Class E share earnings six months ended June 30 49 cents, vs. 36 cents. North & Judd Manufacturing—Com- mon share ugxfln Year ended June 30 85 cents, vs. $2.16. Spalding (A. G. & Bro.)—Salaries reduted 1n company's {factories and stores; cut in most cases amounts to 10 per cent. Sun Oil—Gasoline sales over past few months reported to have exceeded those of year ago by over 4 per cent. Western Pacific R. R. reduces sal- | River, ing reduces prices on refrigerators other than small apartment house models 10/ to 20 per cent. ‘Wheeling Steel Corporation declares initial dividend on new 6 per cent pre- ferred stock of 75 cents. Borg-Warner Corporation August | shipments of Norge Corporation sub- | sidiary, up 473 rer cent, 8 months up 512 per cent. Cleveland Ciiffs Tron passes quarterly preferred dividend: paid $1.25 June 15. Crown Zellerbach Corporation com- ‘mon share earnings, quarter ended July 31, 25 cents, vs. 19 cents. Jersey Central Power & Light de- clares initial dividend of $1.375 on 5%; per_cent series preferred stock. National Family Steres passes quar- terly preferred dividend:; paid 50 cents June 1. Neisner Bros. August sales off 1.7 per cent: 8 months up 4.8 per cent. | Standard Oil New Jersey advances | tank car price of United States motor gasoline !: cent a gallon to 6 cents. Tide Water Oil—Subsidiary, Tidal Refining Co., posts price of 656 cents a barrel for East Texas crude oil. Vanadium Alloys Steel declares 25 cents dividend; paid 50 cents June 30. Bohack H. C. Co. sales, 4 weeks ended August 29, up 9 per cent; 30 weeks, ended August 29. up 11.8 per cent. Montgomery Ward August sales off 2].7t per cent; 8 months off 17.8 per cent. CANADA REVISES DUTY ON GASOLINE IMPORTS By the Associated Press. Canada has revised customs valua- tions on refined gasoline, based on cur- rent prices of crude oil in different fields, subject {o adjustment as prices change. Imports from the various districts will be valued as follows, per wine gal- lon: From Pennsylvania, New York and district which includes the Atlantic seaboard, 7.363 cents; Toledo, Detroit, Cleveland and district, 7.976 cents; Chicago and district, 6.876; Minneap- olis and district, 7.226 cents; Wood St. Louis and district, 6.476; midcontinent district, which includes the State of Oklahoma, Kansas, part of Missouri, part of Arkansas and North Texas, 4.726, and Montana and district, 7.126 cents. No imports of refined gasoline are to be entered at less than their invoice, nor fair market value as sold for home consumption; otherwise, dumping duty will be applied equal to the difference between the fixed values and such lower prices. New England Securities. NEW YORK, September 3 (Special). —A New York banker who has recently made a 10-day business trip covering practically all of New England east of Portland, Me., said today that he had been much heartened by the signs of industrial activity and content in the States of Massachusetts, Rhode Island and Connecticut. He found mills in the textile centers doing a good business and making a profit. He was impressed by evidence that there had b2en more adjustments in wages to new conditions than in other &?m of the East. In one important Rhode Island factory he arles of emplaye rrec:g;llu $300 and - T estinghouss Electric & Manufactur- ; -~ ' learned that the orders were the largest in several years. bonds. such as American Telephone 5s and Duquesne Light 41:s, were steady. United States Government bonds werc 2/32 to 3/32 higher at onc time. Washingten Stock Exchange SALES. Capital Tracticn 55—$1.000 at 82':. Wash. Gas 6s “B"—$300 at 105, $100 at 105. & Elec. 45—$2,000 at 9413, Wash. Ruwy $2.000 at 9412 Barber & Ross 6'25—$300 at 80. AFTER CALL. Wash. Rwy. & Elec. pfd.—10 at 9915, Bid and Asked Prices. BONDS. FUBLIC UTILITY. Bid Amer. Tel. & Tel. Am'rel” & To ARicostia & Poi. R R Anacostia & Pot. guar. 5s . C & P. Tel. of Va 55 41s . Wash. Alex & Mt Vernon cti. Washinston Gas 4'as.. i Washington Gas 6s. seriss A Wash. Gas 6s, series B.. Wash. Rwy. & Elec. 4s 2 MISCELLANEOUS. Barber & Ross, Inc., 6'as. ... Chevy Chase Club 5 Columbia Country Clu D. C. Paper Mfg. 65....... W. M. Coid Storage 5% PUBLIC UTILITY. & Tel. (9) S action Co s Light Co Steamboat Pot. Elec Power 6 Pot. Elec. Power 5':'r Wash. Rwy & El com. Wash. Rwy. & EL pfd. (5) NATIONAL BANK. Capital (14). S x Columbia (12} Commercial ~(stamped) District (8).... ; Fed.-Amer Nati. Bk, & Tr Liberty (7§).. ... . Lincoln (12) Metropolitan Second (9e Washington (13)......00 TRUST COMPANY. as Amer. T Capital Wash. Ga NO& W 4 18) (12) iioi [tiN Union Trust (8s) o Wash, Loan & Trust (14)....... SAVINGS BANK. Bank of Bethesda (65)..... Com. & Savings (10) East’ Washington (12} Potomac (10). . Sec. Sav. & Com. Bk. (17) Seventh Street (12 United States (30)..... L Washington Mechanics (201, FIRE INSURANCE. American (12). g S Corc aoy.si Firemen's (8). . National Unfon’ (15) . TITLE INSURANCE. Columbia (6h). e Real Estate (6h). MISCELLANEOUS. Barber & Ross, Inc. com Col. Medical Bldg. Corp. (&) Col._Sand & Gravel pfd. (7). D. C Paper Mfg. pfd. Dist. Natl. Sec. ptd Emer. Bromo-Selz. “A” Federal Storasze pfd. (8). Fed.-Am. Co. com. 1.20f). Fcd-Am. Co. pfd. (6. Lanston Monotype (8). . Mer Tr. & Stge. com. (10 Mer. Tr. & Stge. pfd. (1) Mergenthaler Linotype (6) Natl, Mtge. & Inv. pfd. (8).:0: Peoples Drug Stores pid. (613). Real Est. M. & G. pfd. (8) Security 'Storage (fe). .. Ter. Ref. & Wh. Corp. (3 The Carpel Corp. (2., W. Mech. Mtge. com. (6) Wash, Med, Bldg. Corp. (7). Woodiward & Lothropcom (1,20} 23 Woodward & Lothrop pfd. (7).. 106 *Ex_dividend. 52% extra. losed. ¥21a%% extra. 3% extr B4z ‘extr 3% extra. 1137 extra, CHICAGO DAIRY MARKET. CHICAGO, September 3 (#)—But- ter—Receipts, 7,512 tubs; firm. Cream- ery specials (93 score), 20a29%; ex- tras (92 score), 2815; extra firsts, (90- 91 score), 2612a27%%; firsts (88-89 score), 241,825'%; seconds (86-87 score), 22a 231,; standards (90 score, centralized u;-':":z;fl’:'celw 6,632 c: steady; 3 ases; g prices unchanged, Can Pac 418 Cent 111 G Cent Pac 55 Cen Ry Cert-td db & | Ches ¢ : C&Ogen 418"y C&O 4y CB&Q4 CB&QIstrL 5 CB&Q Il dv 3 Chi & Est Il 5 Chi Grt West 45’59, Chi M & St P 4s '89. C M StP&P 5575, CM&St Padjss.. C&NW 4135 C 2037, Chi & NWen 4%s.. “hi & NW 613536, SE 1n 5560, In Sta 4135 '63. W Ind cn 4s C& W Ind 5155 '62. Chile 65 '60. Chile 65 '6 Chile 65 '6: Chile 7542, ... Chile Cop db & Christiana 6s "54 CCC&StL 418 B Clev Term 413577 Clev Term Cologne 6 . Colomb 6s Jan '61. Colomb 6s'61 Oct. . Colon Oil €5 '38. ... Colo & Sou 414535 Colo & g Col G&E 55 Col G&E cou 55 '61. “om Inves 53 CC Md 1strf 5s'50. Con G NY 4%s'51. Con G N Y 515545, Con Pwr Jap 6% Consum Pow 5s ' | Copenhag 435 '53. Copenhag 5s 52, Cuba 5%s '45 Cuba RR rf Czecho 8s '51. Czecho 8s '3 Del Pwr&L 4%s 71 Del & Hud rf 45 '34. Del & Hud 5155 '37. Denmark 4%s '62. . Denmark 5%s '55.. Denmark 6s 42 D& RGren4 D& KGr 4% D&RG W o8 DRG& W Det E G&R41%5'61. Det Edison rf 5549 Det Unit 4%s '3 Deutsche BK 6s'32, Dodge Br cl 6s'40. . Duquesne 4125 '67. Dutch East I Mar.. Dutch East I Nov. . Dutch East I 6s'47. Dutch East 16s'62. East C Sug 7%s'37 Erie 15t con 48 '96 Erie cv 53 6 Erie 55'75 Finland 5%s '68... Finland 6s '45 Finland 6% Finland s ‘50 Fla E Coast 58 Fram I D 715" French 7s'49... French 748 '41 Gen Baking 5%s Gen Motors 65 '37. Gen P Sv 534539, Gen Th Eq 6s '40 German 5% "65... German Bk 6s'38. . Ger Cen Bk 6560 J Ger Cen B 63 '60 O German Bank 7s '50 German 7s rep '49. Ger Gen E1 7545 Goodrich cv 68 *45 Good 1st 6%s '47.. Goodyr Rub 5 GrandTr sf db 6536 Grand Trunk 7s'40. Grt Nor 435’76 D. Grt Nor gr 5%s " Grt Nor gn 7s '36. . Halti 65'52........ Huod & M adj 5s'57 Hud & M rf 55 '57 12836 wa au CemaRSallnunatoinnnrenaratasstenmreD BaRaty @ e s a 3 S rumBlBrnliada8 e~ 1e EEYE TS 601 98 91 107% 113% 5 84% 17 9% 49 106 16 172 2 T 3 95% 19 103% 1001 108Y% 51 911y 104% 9814 101 106% 92 231 96", 34 1037 107x 90 106% 923, 97y 501y 59 % 1073 1073 101 92ry 9915 95t 997 104% 841 861y 44 50 104% 107% 98 82 911 1047 101% 102 101% 101% 12 87% c8a 67% 70 14 74 82 13% 102% 118% 126 98% 108% 96% 22% 56 61 5% 54% 687% 85% il 59 98 91 107% 98% 105 2 No Am C 6 Nor Am Ed is Nor Am Ed 5s C 65 Nor Am E5%s'63. Nor O T & L 6= '47. Nor Pac 3= 2047... Nor Pac 4s ‘97 Nor Pac 4155 2047. . Nor Pac r 1 63 2047, Nor St Pw is A 41, Nor St Pw 6s B'41. Norway 5s 63 Norway 538 '65. Norway 6s'43 Norway 6s'44 Norway 6s'52... Ore Sh L 55 gtd "46. Orez-Wash 45 ‘61 Orient dev 53 Orient dev 65 '53. Pac G&E 5542 Pan Am Pet 6s Paramount 6s * Pari Paris-Ly M 7s Paris-Or 535 '68. . Pathe Exch Penn 43,3 D ‘81, Penn cv 41560 Penn gn 4 Penn 4158'70.... Penn 58 ‘64 Penn gen Penn 63%s36. ... Penn P&L 41 3 Peoples’ Gas 55 47, Pere Mar 4335 '80 Peru 65 60 Pern 6s 61 Phila Co 58 67 Phila Eiec 45’71 Phil & Read s Philippine R 45'37 . Phillip Pet 5% ‘33, Pillsh F M 65 '43. Pirelli 7s. .. e PCC&SL 43577, PCC&SIL 58 A 'T0 Poland 6s 40.... Poland 7s '47 Poland 8 Port Gn E14125'60. Por R Am T 6s " Pos Tel & C 5 Prague 7%s'5! Pressed St C 58 Prussia 6552 Public Serv 45 71 Pure Of15%5'37. Queensiana 8s 47 Queensland 7s"41.. Reading 4148 B'97. Rem Arms 6s A '37. Rhinelbe 7s "46. Rhine West 65 '53 Rhine West 65 '55 Rhine West 75 '50 | Rich Oil Cal 63 "44 | Rio de Jan 6% Rio de Jan 85 °46. .. R Gr Do Sul 6s 68, R Gr Do Sul 8s "46. Rio Gr W 1st 45 '39 RIAr& L 432534, Rome 6325 5 Roy D 45"45 ww. StL IM R&G 4s'33. St L&SF in 48 A '50 StL&SF 4%s'78 StL&SF p15s B'S StS Wen 45’32 StP&KC SL 4128'41 San A & A P 4s'43. Sao Pau 7’40 rct. Saxon P W 6%s'51. Saxon 7s'45. Seab A Lirf 4s'5 Seab A L adj 55 '49. Seab A L cv 65 '45. Sea All Fla 6s,A'35. Seine 7s "42. Serbs-Cr-S17s'62 Serbs-Cr-S1 8s'62.. Shell Un OIl bs '47. Shell Un Ofl 5349, Sinclair Oil 6345'38 Sinc O 7s cv A 37 Sinc Cr O 5%s'38 Sinc PLGs"42..... Sou Bell T&T 55 ‘41 SW Bell T 55 A '54. Sou Pac col 45 '49 Sou Pacref 4s'55.. Sou Pac 4%s'68. Sou P 43869 ww. Sou Pac 43s'81. Sou P&OT 4%s8 717 Sou Ry &n 45 'G6. Sou Ry 5594 Sou Ry 6185 StOfI N J 6846 StOIIN Y 4%s Sweden 5%s '54 e mnanamandesan aahialan wann Bk 2| not later than noon today the amount 12 | had been estimated *{ week as | of oil stored on each leas {that no well would be allowed to re- open before all such information was | assembled at military headquarters in | Kligore. He reiterated that the field {could not be reopened, regardless of | any proration orders from the raiiroad ; commission, until Gov. Sterling so di- | rected. Oil storage in yrapidly depleted and specified the field had been since the shutdown, # | especially since the price increases a |nounced by the Magnolia and Sun companies. Great quantities still mained, though, for production in the field immediately before the sh between 750, | and 1.400.000 barrels daily. Storage fa- cilitics were greatly increased in prep- | aration for reopening of the field | Attorneys believed if the Governor {refused to lift martial law that rail- | road .commission orders would have legal immunity from court attacks sev- eral comp: were expected to make upon the proration orders and also upon validity of the new conservation | law. POTATO MARKET. CHICAGO. September 3 (#).—(Unit- ed States Department of Agriculture). —Potatces, 59: on track. 100: total United States shipments, 530; duil trad- ing, rather slow: sacked, per hundred weight, Wisconsin Cobblers. ordinary. 1.0021.05: Minnesota, 95a1.05; Early Ohios, few sales 1.00: Idaho Rus. sets, No. 1. 175a1.80, few higher; Tr umphs, 1.25a1.50. WHOLESALE By the Asscciated Press. Wholesale prices declined slightly last their change was calculated | by the Commerce Department. In the | index that follows the level of com- 1 modity prices is given for comparable periods, based on representing the 1926 averags as 100: Week ended Apgust 29. | Previous week Same week last ¥ PRICES. Taiwan E P 51571 Tenn El P 6s A '47. Third Av 1s Third Av adj Toho EI Pw 6 | Tono Tokio 5 Tokio i Tokio EI Lt 6s'33.. 15 Un Pac 1st 484 Un Pac 4568 Un Pac rf 4s 2003. Un Pac 4128 Unit Drg cv Gs Utd King 5% U'S Rub 1st 58’4 UnStW6lis A Uruguay 6s ‘60 Uruguay 6s 64 Utah P& L5s Util Pow vanadium S Vert Sug st 7s '42. Vienna 6s ‘52 Warn Quin 6s'39.. Warner Sug 7s '41. West Eldb 5s'44.. West Md 4s '52 West Md 558'77.. West Pac 5s ‘46 West Union §s '51. West Union 5 '60. Wes: Un 635 °36. . Wh Sew Mch 65 '40 Wil-O Ist 61533 2 Wil & Co1st 6s’41. 1 Wis Cent gen 4s'36 36 Yokohama 6s°61... 4 Ygstn S&T 55 B'70. 10 58 6 22 1