Evening Star Newspaper, September 6, 1931, Page 34

FINANCIAL., UPSWING IN STEEL MAY BE DEFERRED Recent Dullness in Industry | Likely to Indicate Later Gains. @pecial Dispatch to The Star. PITTSBURGH, September 5.—1In the last few weeks the steel industry has been shipping its finished steel prod- ucts at & rate of nearly one pound per week day per capita, the annual rate being in excess of 17,000,000 net tons. From that viewpoint, steel consump- tion can hardly be called small; and the viewpoint is a rational one, for much more than the usual proportion ‘of the steel being made is going into common, everyday consumption. The only important exception is fab- ricated structural steel. Two unusually large structural fabricating contracts were let this' week—the Chicago Post Office, to American Bridge, 48,200 tor and the New York Parcels Post Buil ing, to Bethiehem, 23,000 tons. If the steel work for these two jobs were spread over three months, it would represent only one-sixth pound per capita per weck day, and these lettings were far above the average for a week. Apart from these two large pieces of business, steel buying in the last fort- night has been particularly light, mak- ing probably the poorest fortnight since the middle of 1924, when there was a special slump followed by a quick re- covery. Lighter buying was prompt followed by a decrease in the steel-pro ducing rate, to an average of not over 30 per cent this week, comparing with about 32 per cent as the August aver- sge and 34 per cent as the July verage. = T'h: accentuated dullness of the last eouple weeks has led some observers to tpons their predictions of Autumn ncrease to Ogjober. There is some precedent for a seasonal improvement €0 late in the vear. but if the predic- tion were borne out would be done, since it is likewise sea- gonal for demand to diminish dur- ing the last month or two of the vear. and thus a greater pace would not | mean much acditional tonnage in the azeregate. Steel prices continue to hold very firmly all along the line. (Coprieht, 1931) NEW AUGUST OFFERINGS LOWEST IN TEN YEARS Bpecinl Dispatch to The Star. CHICAGO, September 5.—August. 1931, was the dullest month in 10 years in both the stock and bond mar- kets. according to the monthly invest- ment review of Lawrence Stern & Co.. investment bankers. Gilt-edged bonds and well secured ghort-term paper alone were the stable elements in a declining bond market, the roview states. Both bond and stock offerings were extremely meager and distribution practically at a standstill. Th~ total of new offerings for the month reached & 10-year low in bonds ‘with $125.086.385. Stock offerings amounted to $17.378,622 ‘total of $142.465.007. EXPECTS INDUSTRIES TO FOLLOW PIPELINES {Bpecial Dispatch to The Star. 3 NEW YORK, September 5.—The in- ustrial growth. of America in the fu- ure will follow the system of natural ‘gas pipe lines which has developed dur- [ng the past decade, according to John J. Bergen, authority on natural gas securities. “Before the invention of the steam engine all industry was located along the waterways, where water- power was available.” said Mr. Bergen "With the advent of the steam engine dndustry settled in localities within easy transportation distance from the coal ‘mines. B dustry gravitates toward districts Wwhere low power costs are available, and it 1 natural to expect that the in- dustrial development of the next half icentury in the United States will fol- Jow the natural gas pipe lines, where fuel ©osts are low,” continued Mr. Bergen. not much good | ~a combined | |STOCKS DEPRESSED BY CONTINUED DROP IN CARRIER SHARES (Continued From First Page.) \l larger than in any month this year, bringing the average to_the lowest since 1913; a drop in wheat to 45 cents a bushel, and a slower movement to the retail trade. A part of this sluggish- ness is seasonal, for although we are in the first week of September, it has been the experience of those soliciting business recently that a majority of the principals with whom they deal are still on their vacations. Treasury Floats Big Loan. In some quarters the size of the long term Government loan offered on Mon- day and moderately oversubscribed was one of the influences leading to & resumption of liquidation in stocks. Wall Street was somewhat overwhelmed when asked to absorb $800,000,000 3 per cent when it had expected not over $500,000.000 at a higher coupon. Al- though the intimation was given that the issue would relieve the country of larger income taxes, it has since been apparent that the deficit this fiscal year will equal or exceed that of the fiscal period just closed and that, with the pending Taids on the treasury to meet unemployment conditions and for additional soldiers’ bonus oayments, a higher scale of income tax vayments is probable. If a revision upward is to be made it would be an opportune time for the framers of a new tax bill to see to it that a greater percentage of the population pays its share cf the Government expense. There is no good reason why hundreds of thousands of pubiic employes who have had prac- tically no reduction in their salaries during the past year should be exempt from carrying their portion of the Gov- ernment costs. The present situation look are far from long way from hopeless. There is no excuse for the Wall Street attitude which reflects itself in the familiar ex- pression there today that it is “time to jump off the dock.” The difficulty is that every one is looking for trouble in his own affairs and in those of his neighbors and closing his eyes to every symptom of improvement. ~Chose who did the greatest amonnt of boasting and were making the broadest predic- tions for the future two vears ago this | month are today the ones who have the least courage and can talk longest on the possibilities of a breakdown of the American railroads, breakup of Europe, general bankruptcy in South America and communism in the United States. When seearities go from the highest | average prices ever known to the lowest average prices in nearly a decade and within a period of two years it is time for people with ready money to buy them and shut their ears to the whimperings of false prophets. (Copyright. 1931.) and the cut- actory: also n Business Notes | NEW YORK, September 5.—While the beginring of the Fail season activity was noted in trade during the week, | volume continued well under the same | period a year ago, according to reports | from New York retail exccutives. Two | factors were cited as of marked influ- ence. One is the late date of Labor day as compared with a year ago. The other is the delayed opening of schools, Fall notions buying showed a marked improvement in New York this week as retailers turned their attention to mer- chandise for approaching sales events. | Manufacturers were busy throughout | the week on goods wanted for immediate shipment, including novelty items and a large volume of staple goods. Sewing supplies, dress accessories, clothes hang- | ers and a wide variety of other articles | were included in the staples purchased. Turnover in men’s wear stores during | the week was sti wr}m by the final drastic ‘Fe *put into | effect on clothing, and several large stores, featuring the lowest sales prices in years, received a fairly large volume of business, store executives report. With the spot call for velvets con- | siderably larger than the supply avail- able, the velvet trade is advancing into | one ‘of its best seasons in recent years. Producers have a large backlog of orders on which they are working, and pro- | duction has been speeded up to hasten deliveries. W’ASfiINGTON STOCK EXCHANGE YEAR 1931 (Reported by W. B. Hibbs & Co., BALES OCCURRING ON T! PUBLIC UTILITIES. Anacostia & Pot. Riv. R. R. 1st 8s, Anacc Bales. $2.000 13.000 63.500 218,000 6.000 28.000 Capital Traction 1st 55, 1947 . City & Suburban Ry. 1st 55, 1948 Georzetown Gas Light 1st 8s, 1961 IE WASHINGTON STOCK EXCHANGE FOR 1931 UP TO AND CLUDING FRIDAY, BEPTEMBER 4. BONDS. tia & Potomac Riv. R. R. guar 5s, 1949 C. & P. Telephone of Virginia 5s, 1943 s TO DATE Hibbs Building, Washington, D. C.) Approx. vield 16 Open. High. Low. Olose. maturity. 0 ..... 01 Bl By 8l 95 98 95 96 10312 1035 108 861z 76'a 80 69 103 103 103 102% 47.000 45,100 92.500 42.000 133.000 480.100 3,500 5.500 1.000 100 Shares. 6115 61 844 1,769 301 26 3,677 25 281 sow 1,188 88 52 328 2 Al 454 9 165 59 20 21 80 Potomnc Electsic Power cons. 5s. 1936 e Potomac Electric Power gen. and ref. 65, 1958 Washington Gas Light 6s. 1930 ... S Washington Gas Light 4%z, 1933 ...... vashington Gas Light 6s. 1933, series A Washinston Gas Light 6s. 1036, series B Washington Rallway & Flectric 4s, 1951 MISCELLANEOUS. Barber & Ross. Inc.. 6'as, umbia Country Club 512 D. C. Paper Mfg. lst 6s. 1937 . Washington Market 55, 1936 . 1936 ... 1950. STOCKS. Par Div. value rate £100 $4.00 100 12.00 100 6.00 100 550 20 3.60 100 7.00 100 5.00 PUBLIC UTILITIES. Capital Traction N. & W. Steamboat .... Potomac Electric Power pfd. . Potomac Electric Power pfd. . Washington Gas .. e Washington Railway & Elec com. Washington Railway & Elect. pfd NATIONAL BANKS. Eapital o, Commercial ... District . Sl Federal-Amer. Nat. Bk: & Trus Liberty R Metropolitan 100 100 100 20 100 100 100 100 100 12.00 10.00 200 2.00 7.00 14.00 15.00 9.00 Washington 13.00 TRUST COMPANIES. American Security & Trust ... Continental National Bavi Union Trust .. B Washington Loan & Trust . BAVINGS BANK§. Enst Washingotn Potomac Savings Bank ... Security Savings & Commercial.. Scventh St. Savings Bank . FIRE INSURANCE. American Corcoran TITLE INSURANCE. Columbia .. Real Estate MISCELLANEOUS. Barber & Ross, Inc., com. . Columbia Medical Bldg. Corp. Columbia Sand & Gravel pfd. District National Secur. pfd. . Emerson Bromo-Sel. “A" Federal Storage Co. pfd. . Federal-American Co. com. .. Federal-Amer. Co. pfd. . Lanston Monotyre Merchants' Trf. & St Merchants' Trf. & Ste. pfd. Mergenthaler Linotype National Mtge. & Inv. pfd. . Peoples Drug Stores pfd. ... Real Est. Mtge. & Guar. pfd. . Security Storage .. Terminal Ref. & Whg. The Carpel Corp. i Washington Medical Bldg Woodward & Lothrop pfd. \100 100 100 100 100 15.00 6.00 12.00 10.00 14.00 10 20 100 100 1.20 2.00 17.00 12.00 100 12.00 5.00 30 6.00 Corp. Commercial Club 55 ... National Press Bldg, 1st 5! Ohapin-Backs pfd. )oimnkun Nattonal 108%¢ 104 99 102 106 86 80 10712 1033 % 1011y 10394 85'2 a0 100 30 20 g THE SUNDAY KTAR, _— e e WEEKLY SUMMARY OF THE NEW YORK STOCK EXCHANGE FOR WEEK ENDING SEPTEMBER 5, 1931. Last Week. Righ. Average price of 50 stock Same period a year ago.. Total sales.... Same period a —1931— High. Low. Stock and dividend. 14% 3% Abjtibl Pwr & Pa. 52 11% Abitibl Pwr & Paper pf.. 106% 100 Abram & Straus pt (1) 2314 114 Adams Express (1) 33815 2214 Adams Millls (2). 231 15 Addressogr Co 1.40 11% 4 Advance Rumley (new 109% 70% Air Reduction (t434) 10% Air Way Electric Appl..: 2014 Alaska Juneau(40¢). ... 12% Allegheny Corp. . Alleg Cp pf §30 ww Allegheny Steel (1.20) Alliance Realty (3) Allied Chem & Dye (n6). Allled Ch & Dye pf (1) Allis Chalmbers (2)..... Alpha Port Cement (1) Amal Leatner. . Amerada Corp /2). Am AgriculChem of Del Am Bank Note (+3) Am Bank Note pf (3).... Am Beet Sugar pf....... 4« Am Brake Shoe (2.40)... « Am Can (15) Am Can pf (T)... . Am Car & Foundry (1).. Am Car & Fdry pt (7) Am Chain. Am Coal (4)..... . Am Comm Alcohol . Amer Encaustic Tilling. Am European Secur. Am & Forn Power. Am&Forelgn Pwr pf(6), Am & Forn Pwr nf (1).. Am & Forn Power 24 nf. Am Tlaw Steamship (1), Am Hide & Leather nf.. Am Home Prod (4.20). Am Ice (3) Am International....... Am La France & Foam Am Locomotive (1).. Am Locomotive pf (7). Am Mch & Fdy 1.40. . Am Mach & Metals ctfs.. Am Metal Co. Am Nat G Am News Am Pow & Lt (11). Am Pwr & Lt of (8). Am Po & Lt pf A sta(5). Am Rad & Std San (60c). Am Republics Am Rolling Mills Am Safety Razor (5) Am Ship & Commerce. Am Shiphuilding (5). Am Smelt Ref (2).. Am Smtg&Ref 24 pf(6). Am Smelt & Ref pf (7). 4 Am Snuff (13%) Am Snuft pf (6).. Am Solv Chem. Am Solv & Chem pf Am Steel Foundries (1). Am Stores (+2%) B Am Sugar Ref (5). Am Sugar Ref pf (7 Am Sumatra Tobacco Am Tel & Tel (9).. Am Tobacco (16). Am Tobaceo B (+6) Am Tobacco bf (6)...... Am Typefounders pf (7) Am Water Wks (3)...... Am Wat Wks vtr cfs(3). Am W W & E 18t pt (6). Am Woolen Am Woolen pf Am Writ Paper ctfs. Am Writing Paper pf AmZinc L&S Anaconda Copp z Anchor Cap (2.40)...... Anchor Cap cv pf (6%). Archer Daniels Midland. Archer Daniels pf (7). ‘Armour of Del pf (7) Armour of 11l Class A. Armour of 111 Class B. Armourof Il pf... Arnold Constable & Co. Artloom Corporation Associated Apparel Assoc DG (2%) Atch Top & S Fe (10) Atch Top & S Fe pf(5) “ r ago. o 32 1104 80% 79 107 1% 40 iulf & West Indles. Atlantic Refining (1) Auburn Auto (£4) A Austin Nichols pr A (3). Auto Sales. . Autosales Corp pf. Aviation Corp of Del Baldwin Locomotiv Baldwin Loco pf (7). Raltimcre & Ohio (5) Baltimore & Ohlo pt ( Bamberger pf (6%4)... Bangor & Aroos (33). Pangor & Aroos of (7). Barnsdall Corpn....... Bayuk Cigars 18t pf (7). Beatrice Creamery (4).. Beatrice Creamry pf (7) Beech-Nut Packing (3). Belding-Hemingway . Belg Nat Ry pt pf 14.82 Bendix Aviation (1).... Best & C0 (2)......¢eus Bethlehem Steel (2).v.. Bethlenem Steel pf (7) Blaw-Knox (1) Bohn Alum & Br (1%). Borden Co (k3)... Borg, Warner (1).. Botany Con Mills. A. Briggs Mg (11%)...e0e Briggs &Stratton (2) Brockway M T Bklyn-Man Tr (4) Bhly-Man Tr pf (6) BKIvn & Queens Tr..... Brkly&Queens Tr pf(6). Bklyn Union Gas (6). .. Brown Shoe (3). . Bruns-Balk-Col. . . Rrunswick Ter&Ry See. 9 60 41w 60 101% Bucyrus Erie pf (7) Budd (E G) Mfg. Budd Wheel (1). RBullard Co. Bulova Wat e Burroughs Ad Ma (t1%) Bush Terminal (234)... Bush Terminai deb (7). Bush Term Bldg of (). Butte Copper & Zine Butte & Superfor. Butterick Co.. Byera (A M). 4 Calif Packing (2). Callihan Zinz & Lead. Calumet & Arizona.. Calumet & Hecla. .. Campbell W&C Fy (1)... Canada Dry G A (3).... Canadian Pacific (1%).. Cannon Mills (1.60). Capital Adm (A)... Car Clinch&Ohio sta ‘asge (J1) Co.. se (J 1) Co of (€ Caterpillar Tractor (3) Cavanah Dobbs Inc..... Celane: Celotex nt Azuirre Asso(1%). Cent RROENJ (8)....0 Century Ritbon Mills. .. Century Rib M pf( Cerro de Pasco (1) Certain-teed Prod, Checker Cab Mfg Ches & Ohio (2%) Chesapeake Corp Chicago Great Western, Chicago Great Wn pf.. Chicago Mil & St Paul. Chicago M1l & St Paul pt Chi & Northwn (4) Chicazo Pneu Tool Chi Pneumatic Tool p: ChiRI& Pac(m2%). Chi Rek Isl&Pae of (7). Chicago Yellow Cab (3). Chickasah Cotton Oil... Childs Company . Chile Copper (13%). Chrysler Corp (1) City Ice&Fuel (3.60). 4 City lce & Fuel pf (6%). City Stores. . . City Stores (A). CCC & St Lout: Cluett Peabody (3).. Coca-Cole. (17%). Coca-Cola Class A (3).. 40 Colgate-Palm-P (2%).. 101% Colgate-Palm-P pf (6). 9 Collins & Alkman.... 71 Collins & Alkmaa Df (7). 9% Colorado Fuel 8l 105 24 133 Low. 122.34 120,38 Lact Week, High. % 13% 106 14% 33% 15 5 79% 3% 18 6 17% 2815 40 114 123% 24% 13% AR LY 18% 134 324 61 74 274 9314 150 16 57 15 86 8% b% 19% 29% 67 8315 48 24 617% 70 12% 15 45'9 55 105 81y 172% 109 11314 130% 100 35 1% 10 5 21% 87 9% 99 1% 1 1t 1% 5% 46% 65 106 4814 106 8% 80 601 110% 53% 6 76% 23% 40% 41% 103% 16% 38% 5% 19% 2% 134 16 58 9% 12 61% 112 4“ 8 5% 84y 3%, 104 4% 9 10% 9 23 100% 12% 34'4 21% 21 64 864 22% 3 12% 5 20 20% 150 8% 90 15% 5 8% 36% 35 5% 0 M 8 24% 8 19% 37% 68% 18 11 18 . 18% 22% 30% 80 2% 10 105 25 146 52% 43% 104 14% 95 veme 014 Year 10 Date. High. 178.07 112.26 245.60 179.12 % 12 106 13% 81y 15 Y A 35 14% 5% 441y ' 56% 904 11 6114 4 13% 106 4514 x52'4 5 90% 11% 614 108 x109 43 % 4% ) 120 10214 4 8% 9y 8% 22 22 70% 4“4 % 4% T4 12% 1021 4 8% 914 8% 224 22 4% 100% 100% 1% i 10% 28% 28% 1% % 10% 284 23 % 38 8 11% 29 19% x19% 20% 60 18 1 16% 1% 19% 30 8% 2 8% 105 24% 141% 52% 42% 103% 12% 113% 21 14% 95 Low. Year to Date, 5.061.458 895.150,920 6,720,020 587,563,510 Net Low. Close. Chge. t+f 1000+ EEREtEEE SRR RS LS FRCERET 100 L S e o BES BT AR ! SiaEa +8 &+ SE I RNE T4+ A L R S 1% 1 1% WASHINGTON, D. C —1001— High. A6% 109% 16% 1i% 111% 23% 25% 8914 25% 34 106 90 21% 12 100% 4% 14% 30% 87% Low. 20% 98 6 6 55 13 20 76% 21% 20 59% 3%, 104 8214 1014, 1% 2% 44 C 2% 1 Y 15% 1 % 10% ~Fair 60 3% 30 44 1% 3 % Low. 28% 104% 7 % 55 16% 264 884 24 23% 105 84 16 ™% 95% 30 13% 15 36%. 62 59% 6% 13 90% 106 1274 26 Stock and dividend. Col Gas & E160 (2)vsv 0 Col Gi Elecpf A (6). Columbia Graph (66e). . Col Gra’phone ctfs (560), Columbian Carbon (5)... Comm Credit (1.60)...., Com Credit pf (1%)..... Com Credit 18t pf(6%).. Com Credit pt B (2). Comm Inv Trust (2). Comm IngTr pt (6% Comm Inv Tr cv pf (e6). Comm Solvents (1)... Comwlth&Southn (40c) Comm & Southn f (6).. Conde Nast Pub (2). Congoleum-Nairn (1)... Cigar (4) ar (6), Consol Cxr prpf (8% Consol Cgr pr pf xw Consolidated Film, Consol Film Ind pt (2).. Consol Gas of NY (4). Con Gas of NY pf(5) Consol Laundries (1), Consol R R. Cuba pf(6). <ol Textlle “ Container Corp (A) 2% Container Corp. B. 1 Contl BakIng, A.. n Contl Baking, B 1% Contl Baking pt 52% Contl Can (234) g 46% Contl Diamond Fibre(1). 814 Contl Insurance (2.40)., Continental Motors. Contl Oll of Del Cont Shares, Corn Products Ref (f4 Corn Products pf (1) Coty, Inc. . Cpeam of Wheat ( Crex Carpet. Crosley Radlo Cr Cork & Seal Crown Cork&S own Zellerback ueib eclof Am Crucible Steel pf (7)., Cuba Cane Products Cuba Company. Cuban-Amer Sugar Cuban-Amer Sugar p Cuban Domin Sugar Cudahy Packing (4)... Curtis Publishing (4). Curtis Publsihg pt (7) Curtiss Wright.... Curtiss Wright (A). Catler Hammer..... Davison Chemical. Deere & Co (1.40) Del & Hudson (9)... Del Lack & Westn (4)... Denver & Rio Gde W pf.. Detroit Edison (8)...... Devoe & Ray A(60c). ... Diamond Match (1)...., Diamond Match pf(134). Dome Mines (1).. Domn Stores (1.20) Douglas Afrcraft(j1 Drug Ine (4) .o Dupont deNemours (4).. du Pont de Nem pf (6).. Duquesne Lt 1st of (5).. Durham Hoslery pf..... High. 30% 105% 8 % 67 16% 25% 894 25 24% 106 86 17% Bl 96% 30 14% 16 36% (130 60 % 13% 9514 106% 18% 27 1071 21 BY% Eastman Kodak (18 Eas 13214 E 1214 B5in 364 Eitington-S Elec Auto-Lite (6) Elec Auto-Lite pf ( 108 Electric Boat. 214 3 % 6% 2 36% RSl 100% 51 Elec Pwr&Lt pt (6). Elec Pwr & Lt pf (7) Electric Storage Bat(6). Endicott-Johnson (3)... 114 *ub Sve (1.60) 33 Eng Pub Sve pf (6).. 8644 Eng 'S pf ww (515) 7848 Equit Office Bldg (2%).. 27 Erie Railroad....... 16% Erle Railroad 1st pf (4). 23 ¥ 2d pt Eureka Vacuu Evans Auto Loading. . Exchange Buffet (1%4) Fatrbanks Co. Falrbanks Co an . Fairbanks Morse pt (7). Fash Park Asso. a4 Water Fed Dept Fid Phen Fire Ins (2 Firestone Tir & Rub (1) Firestone T & R pf(6).. First Natl Stores (214). Flsk Rubber. Flsk Rubber 18t pf. Fisk Rubber 1st pf ev. Florsheim pf (6).. Food Machinery (134) . Foster Wheeler (1) Foundation Comp: Fourth Nat Inv (m Fox Film (A) (213). Freeport-Texas (3) Gabriel Co (A Gamewell Co (1), Gardner Motor. ... Gen Amer Investor: n Am Tank Car(4) n Asphait Gen Baking (2). 20 Gen Baking pt (8), 109 Gen Bronze.,.. 7 7 Gen Cabl 614 Gen Cable A 1314 General Cable pf. .. 2% Gen Cigar (4).. . 5 35 Gen Electrio ( . Gen Electric Spec (60c). Gen Foods Corp (3). 37y 1 4% 55% 19 391 1% 48% 404 Gen Gas & Elec A (e30c) Gen Gas&Elec cv pf (6). General Mills (3) Gen Mills pf (6) Gen Motors (3). Gen Motors pt (5). General Outdoor Adv, Gen Outdoor Adv(A) Gen Printing Ink ¢2%). Gen Printing Ink pf (6). Gen Public Service Gen Rallway Sign: Gen Ry Signal pf (6) Gen Realty & Utilitie; Gen Realty&Util pf(e6). n Refractories (3) n Theatre Equip Gillette Safety Razor Gillette Saf Raz pt (5 Gimvel Bros Gimbel Bros of (7). Glidden Company Glidden Co pr pf (7). Gobel (Adolf). Gold Dust (2%) Goodrich (B F Goodrich (B F) pf (1).. Goodyear Tire& Rub (3) Goodyr T & R 1st pf (7). Gotham Silk Hoslery. Gould Coupler. Graham-Paige Mot. Granby Consol Min Grand Silver Strs (h1). Grand Unfon,.....% Grand Union pf (3)... Grant (W T) (1)... eat Northern pf (4).. Grt Nor Ore (2)..... Great Western Sugar. Great West Sug pf (7). Grisby Grunow.. , Guantanamo Suger. Guantanamo Sugar pf.. IMackensack Water(1%) Hackens'k Wat pf A 13. Hahn Dept Stores. ..... Hahn Dept Strs pt(6%). Hall (WF) Prtg (1.20).. Hanna pf (new) (7).... Harbison & Walker (1)., Hartman Corp (A)..... Hartman Corp (B). Hayes Body....ou.es Hercules Motor Co(80c). Hercules Powder pf(7). Hershey Choc (5) Hershey Choc pf( Holland Furnace (12%). Hollander A & Son... Homestake Mining (17). Houdallle Hershey. . Household Finan pf (4). Houston Of!. ... Howe Sound (2) Hudson Motor (1) Hupp Motors flinots Central (4). Iilinois Central LL Indian Motor Cyel Indian Motorcycle p! Indlan Refining. Indus Rayon (4). Ingersoll Rand (4).eeeen Inland Steel (2%) Inspiration Copper...eu 331 874 »> o A 51 401 100 3414 103 e 107% 2% 26'y 34 2% 17% 63 448 4% 52 13 85 26 ) 2 2% 10% 116 96% 108 26 12% 929 5% 61% 38 8% 18 12% 6% 338 46 2% 16% 3 81% 88 139 5% Close. 28% 104% 4 % - 56% 16% 251 80's - 3% 105 x84 16% % 95% 30 18% 15 35% 62 60 6% 13 90% 106% 124 107% 21 5% 134 x134% 182 12% 5bin 105 2% 6l4 8614 100% 51 400 114 861y I 371 1 4% 56 x1914 20% 109 7 614 131y 324 35 39% 11% 491 4% 51 0% 100 34% 108 5'% 10 19% 654 104 45 1073 Net | —1081.— Chge, -2 ~ 1% -1 - % —-10% + W % 1% 1 1% 1% % % 1% 2 % 1 % W % bl % % +1lhti+ AR EERENE YN T+1+100+++01000 100 P FEEYYE Y F2U2735F #5¥ (REZANAN s g §% KR L4400 000 PRS2 L EERE R RS S R tiy t+ T 2% — 28 34 2% 18% 63% — 5 4y 9% 52 13 86 26 4 2 2% 10% 116 96% 1034 26 13% 100% 5% 64 39 8% 18 12% % 34 46 2% 15% 3 1% 83 39 5% — (] PEebIELY IRERE] » SELFE FET AR LAV E00 001+ 410 + % - % ke - 3% -6 =3 - % ‘High. 12% 34 4% 15 5% 514 119% 12% 62% 4 39% 60'% 143% 31 3% 1674 20% 123 6 4% 35% 104% 2% 10% 25% 9% 18% 1% 5 1%, Int Agricul Chem., 16% n7 6% 2% 1% 13 36% 131 16% 48 [3 9% 112 2% 1% 18% .7 6 29% 46% 18% 11% b7% 58 ., SEPTEMBER 6, 1931—PART SIX. Stock and dividena. Insuranshares (Del) A.. Interboro Rapid Transit, Intercontinental Rubber Interlake Tron. . High 10% 21% 1% B% 1% 17 144% Th 2 1% 16 38 137 2¢ 4T% 6% 120 Int Agriculture pf...... Int Business Mch (n6).. Int Carriers, Ltd (60c) .. Intl Cement (4). . Intl Combustion En Inter Combust Engri Intl Harvester (2%). Intl Harvester pf (7)... Intl Hydro Elec, A (e2) s Intl Match pf (4) . [nt Merchant Marine Int Nickel of Can (40¢) Inter Nickel Can ot (7)., Intl Paper & Power. B Intl Paper & Power C... Int Paper & Power pf.... Intl Printing Ink. . Intl Rys of Cen Am. Intl Salt (3) Intl Shoe (3 Intl Tel & Telex . Interstate Dept S(2). Interst Dept Strs pf (7) Inter Dept 8 pf x-w (7). Investors Equity. Island Creek Coal (4)... Jewel Tea (4) Johns-Mansville (3 - Jones & Laughlin p£(7).. KanCPow& Lt B (6)... Kansas City Sou pf (4) s Karstadt (Rudolph).... K’'mann Dept Strs (1)... Kayser (J) & Co (1).. Kelly Springfield Kelly Springfleld 8% Kelsey-Hayes Wheel. Kelvinator Corp. Kendall Co pf (6). Kennecott Copper (1) . Kimberly Clark 2%..... Kinney (G R) Co. (GIR)Co pf. Kresge (S 8) Co pf (7).. Kresge Dept Stor: Kress (SH) Co (j1). % Kreuger & Toll (1.61). Kroger Groc & Bak (1).. Lambert Co (8) Lane Bryant (1). Lee Rubber & Tir: Leh Port Cement. Lehigh Valley Co: Lehigh Val Coal pf (3).. Lehigh Valley Railroad. Lehman Corp (3) = Lehn & Fink (3), Libbey O Ford Gla: Liggett & Myers (16)... Liggett & Myers B (15).. Lily TullpCup 1%...... I.ima Locomotive (m2).. Link Belt (2). Liquid Carbonie (3). Loe Ine (3)... Loew's Inc pf (6%). % Loft Incorporated. Loose-Wiles (12.90) Lorillard Co. . Lorrillard pf (7). Louisiana Ofl Rrefinin Louis Gas & Fl1 A (1%). Tiville & 18 (5).. Ludium Steel. MeCall Corporatn (2%). McCrory Stores A (2)... McCrory Stores B (2)... McGraw Hill (1) MclIntyrePorcMines(1). McKeespt Tin Plate(4).. McKesson & Rob (1).... McKesson&Rob pf(3%). McLellan Stores MackTrucks (2), Macy (RH) & Co (n3). Madison Sq Gar (60¢). Magma Copper (1)... Mallison & Co pf..... Manat! Suga Man Elevm g Manhat Shirt (1) Marine Mid Cp (1 Marlin-Rockwell (2) Marmon Motor Car, . Marshall Field&Co(2%) Mathfeson Alkilf (2) Mathieson Alkall pf(7). May Dept Stores (2%).. Maytag Company... ... Mavtag Copt w w (3) Melville Shoe (2) Mengel Co. . Mengel Co pf (7). Met G Pie pf (1.89) Miami Copper. . Mid Continent Petm., Midland Steel (3) Midland Steel pf Mil El Ry & Lt pf Minn MolPwr Imp, Minn & StLouls. .. Minn StP&SSM. MinnStP & SSM11(4). Mo Kan & Texas........ Mo Kan & Texas pf (7). Missouri Pacif Missour! Pacific pf (5).. Mohawk Carpet........ Monsanto Chem W (1%) Montgomery Ward..... Morrell (John) & Co (3) Mother Lode. .. Motor Meter Ga Motor Products (2), Motor Wheel (1).. Mullins Mfg. .. Mullins Mfg of (7)... Munsingwear, In¢ (2)... Murray Corp. Myer (F E) & Bro: Nash Motors (4) Nash Chat & St L(3) Nat Acme. Nat] Bellas H, Nat Biscuit (2.80). Nat Biscuit pf (7). Nat Cash Register (A).. Natl Dairy Prod (2.60).. Nat Dept Store. ceen Nat Dist Prod (2)... Nat Lead (5). Natl Lead pf A Natl Lead pf B (6). Natl Power & Light (1). Natl Steel (2) Nat Supply Co Nat Supply pf (7) Nat Surety (2). Natl Tea (1) Neisner Brothers 5 Nevada Con Copper (1). Newport Co (1) Newton Steel. N Y Central (6). N Y Chicago & St L N Y Chicago&St L p! Y & Harlem (5). Y Investors. .. H NH & Hart ().... NHa& Hpf (1) Ont & Western, Railways pf. hipbuiling. N'Y Shipbuilding pf (7). N Y Steam pf (6).. N Y Steam 1st pf (7) Noranda Min Norfolk Southern. 3 Norfolk&Western(t12). 160 Norfolk & West pf (4).. 90% North Am Aviation Tih North Amer (b10%stk), 69! North American pf (3).. 56% North Am Edison pf'(6). 105% Nor Ger Lloyd (m2.56).. 15% Northern Pacifio (6). 34 OBOOLL. .5 vsssssns 1% Oliver Farm Eq pr pf 10 Omnibus Corp..e..e.. 4% Omnibus Corppf A (8).. 67%4 Orpheum Circuit ot (8).. 36% Otis Elsvator.n (2%)... 37% Otis Elevator pf (6).... 128% Otis Steel 8 Owens 111 Glass (2). 30% Pacific Coast 1st pt Pacific Coast 2d pf. Pacific Gas & Elec (3). Pacifio Lighting (3). Pacific Tel & Tel (7 Pacific Tel & Tel pf (6) Packard Motor (40¢c) Panhandle Prod & Ret., Paramont-P(m1.62%Dp Park Utah. . Parmelee Transport. Pathe Exchange. Pathe Bxchange A. Patino Mines. Peerless Motor: Penick & Ford ( Penney Co (J C) (2.40) Penney (J C) pf ( N N N N N N Y Y Y % Penn Dixie Cement. Penn Dixie Cement pf. Penn Railroad (3) . Gas Chi ( 197 DrugStra(1).... 30% Peoples Drug St p£(63%). 101% Pere Marg prior pf (5).. 40% Petrolm Corp of Am (1). 8% Phelps Dodge (1) .. o 11% " zow. 10% 20% 1% 5% 1% 17 185% 6% 30% 1% 13 36% 136% 21% 43% 3 12% 2% 2 21% 11% 6 34 ATH% 25W 17 67% 67 4% 24% 41 4T% 118% 23% 35 19% 70 30 14% 184 T4 19% 7 647 20 30 1534 3% 42 100 A1 % 5 68% 106 115'% 18% 3 3 152%4x152% 90% 6% 65 55% 105% 15 30% 10 9 314 6714 354 34 127% 8 30 % % 1% FINANCIAL, Net | —1991— Close. 10% 20% 1% 5% 1% 17 187 6% 30% 1% 18 6% 136% 22 43% (3 x12% 2% 2 21% 11% 6 34 4T% 25 17 68 67% 4% 24% 41 48% 118% 115% 45 1% 14% 13% 1% 16 8% % 51 16% 33 11 26% 13 5% VI+400 LEh+E0+t PEF 5s"FER £Oserse” *§ ) e £ OEEIEREER TAEAVELeEREO TN D=0 e ARE o e 5 20% 10% 3 =5k (RN > oo 461 54 5% 55 151 25% x327% 215 274 102 140 118 234% x35 19% 70 30 14% 18% 8l 19% 7 64% 20 30 153% % 50 101 11 % 5% + 68% 1084 115% 19% +1 FEELLEL R LR ) 90% 6% 65 564 1051 15 31% 10 9 3% 6714 354 344 127% 8 80 LY 3% 45 50% 126 131 6% 2 x28% 1% 2 1% 5% 8% 3 x35% 41 9% 1% 10 36% 186% 30% — W 101% — % 400 PRI 4+ #0010 v+ 0+ FEESESE . High, 102% 56% 12% 12% 12% 16% 2% 1% 23% 3% 37 20 16% 15 86 18% 27 39% 20% 26% T4 AT% T1% 96% 102% 120% 109% 107% 103% 58% 2 11% 101% 55% 27% 554 60 24% 61 34% 29% 97h 46 47 307% 19% 98 10% 26% 54 13 30% 132 12% ™% 10% 15% 86% 37T% 20% 36% 20% 364 25% 47 152% 150 9% 41% B87% 60 1 2 Low. Stock and dividend. 95% Phila Co pf new (6). 52% Philadelphia Co 6% 6% Phila & Reading C& 1 9 Philip Morris&Co(1). 11 Phillips-Jones Corp. 4% Phillips Petroleum B8 Plerce-Arrow pf ( % Plerce Oll.. 6's Plerce Ofl pf. . Pierce Petrole: Pitts Coal pf. . Pittsbgh Screw&B(70c), Pittsburgh United Corp. Pittsbgh & West Va Poor & Co (B)...... Porto Rican-Am Tob(2). Postal Teleg & Cable pf. Prairie Oil & Gas. Prairie Pipe Line (3). Pressed Steel Car. .. Pressed Steel Car pf. ... Proctor & Gamble (2.40) Proc & Gamble pf(5)... Producers & Refine: Public Serv. NJ (3.40).. Public Serv N J pt (5).. Public Serv N J of (6).. Public Sve G & E pf (5). Pullman Corp (4).. Punta Alegre S iga: Pure Oil. . Pure Oil pt (8). Purity Bakeries (3). Radio Corporation. Radio Cotp pt A (384) Radio Crp ofAm pf B(§) Radio-Keith-Orph (A).. RR8ec Il Cen ctts(4).. Rand Mines(m2.429). Raybestos-Man (1.60) Reading Rwy (4). Reading 1st pf (2)...... Reading Rwy 24 pf (2). Tteal Silk Hosiery Remington-Rand Item Rand 2d pf (K). Reo Motor Car (40¢) Republic Steel. ... Republic Steel pf Revere Cop & Brass. . Reynols Metals (13)... Reynolds Tobacco A (3) Reynolds Tobacco B (3) Richfield Oil. Rio Grande Ofl.. ... itter Dent Mfg (1% ) 18 1n8 o1 Am(2.20). Royal Dutch (m2.2789) . Rutland pf....... Safeway Stores (5) Safeway Stores pf (6) Safeway Stores pf (7) St Joseph Lead (1) Stl-San Francisco StL San Fran pf (6 St Louls Southwestern. St L Southwestern pf. Savage Arms (1).. Schulte Retatl Store Schulte Stores pf ( Scott Paper 11.40 Seaboard Afr Lin Seaboard Afr Line pf. Seaboard Oil. Seagrave (60c) Sears Roebuck (214 ) Second Natl Inv. Second Nat Inc pf. Seneca Copper. Servel Inc. Sharon Sterl Hoop Z Eharp & Dohme pf (33) Shattuck (FG) (1113) Shell Union Oil. .. Shell Union Oil pf. Shubert Theater. Skelly Oilpf....... heflield Steel. . heffield pf Packing aum £e olvay Am pf ww (5%). South Porto Rico Sugar. Sou Fort Rico Sux pf (8) Southern Calit Ed (2)... Southern Pacific (6). Southern Raflway (m6) Southern Railway pf(5) Sou Ry Mo & O ctf8 (4).. Spalding (AG) (1) Spalding 1st pf (7) Sparks Withington (1).. Spear & Co pf (1) . Spicer Mfg pf (3). Spiegel-May Stern Standard Brands (1. Stand Brands pf (7).... Stnd Gas&Elec (3%). Stand Gas & El of (4).., Stand Gas & El pf (6)... Stand Gas & Elec pf (7). Stand Invest Corp...... Stand Oil of Cal (h2%).. Stand Oll Export pf (5). Standard Oil of Kansa: Stand Ofl of NJ(12). Starrett (L S) Co(12%). Sterling Sec A) Sterling Securities pf. Sterling Sec ev pf(3). Stewart Warner. Stone & Webster Studebaker Co (1.20). Studebaker pf (7). Sun Oil (11) Sun 011 pf (6) Superheater (2%). Superior Oil... Superior St Sweets Co of Am (1) Symington....... Symington A.... Telautograph (1.40).... Tennessee Corp (50c)... Texas Corporation (2) Texas Gulf Sulph (3). Texas & Pacific (5) Texas Pacific C & Ofl Texas Pac Land Tru Thatcher Mfg C The Fair (2.40). The Fair pf (7 Thermold Co. Third Avenus Third Nat Inv(m35c). Thompson Prod (1.20) Thompson Starrett Co. . Tide Water Asso Ofl. Tide Water As O pf (6). Tide Water Ol pf (5)... Timken-Detroit Axle. ... Timken Roller Bear(2).. Tobacco Products. ... Tobacco Prod(A)(t95c; Transamerica (40c)..... Transue & Williams (1). ‘Tri-Continentl Corp. Tri-Con Corp pf (6). Trico Products (213) Twin City Rapid Trans.. Twin City Rap T pf ( Thlen & Co - Underw Ell Fisher (4) 4 Union Bag & Paper..... Union Carb & C (2.60)... Un Oil of Cal (2).. Unton Pacific (10).. Union Pacific pf (4). Union Tank Car (1.60) United Afreraft........ Unit Alreraft pt (3). United American Bos United Biscuit (2) 4 United Biscuit pe'(7) Unit Carbon..... United Cigar Stores. United Cigar St pf (6)... Unit Corporation (75¢). . Unted Corp pf (3). Urited Elec Coal. . United Fruit (4). U:d Gas & Improw(1.20) Un:ted Gas Imp pf (5).. Utd Plece Dye Wks (2).. U 8 Distributing. U S Express U S & For Sec ceees U S & Foreign Sec pf (6) U S Freignt. . U S Gypsum (1.60). U S Gypsum pf(7).. U S Hoffman Machine. .. U S Industrial Alcohol U 8 Leather. U. 8. Leather, U 8 Leather pr pf (7). U S Pips & Fdy (3). U S Pipe&Fy 1st pf 1. U 8 Realty & Imp(1) U S Rubber. .. . U S Rubber 1st of U 8 Smelting & R« . US Smelt & Ref nf(3%) U 8 Steel Corpn (4)..... U S Steel Corp pf (7)... United Stores A. . Universal Leaf Tob (3). Univ Pictures 1st pf (3). Univ Pipe & Radiator pf. 19% Utility P&L(A) (te2.15). High. 5 8% 86 20% 17% 15le 131 22% 154 7% 89% 137% 4% 33 42 29 23% i Low. Close. Ohge. 100 100 54% 16% 2% 14% 62% 112 112 27 2% TTw T 1004 101 119% 119% 106%x106'% 29 29'% %% 8 8 84 84 21 21% 18% 18% 50 x504 431% x44% 14% 30 21 164 55 40 40% 6 614 39% 13% 16% 16% 135%x137 82% x83% 20 20 257 264 57% 58 8 8 34 34 115 115 13% 14w 4 4 514 51% 21% 21% 50% 50% 4 41 50% x50% 28 x28% 105%x106 18 18 8% 84 W % 6l 6% 5% 77 174 17% 34 34 132 182 9% 31% 5 T% 85% 185 17% 133 12% Tt - EEE Pitistet il Ift1Esibiistietin [EEERSE | (g4 [} 1EIETS LI+ +01 i | i+ FEEE THLERES LT F PR30 RN EAvt+blELLEDL o on & F EF £y il P Ersls