Evening Star Newspaper, September 8, 1931, Page 14

A—14 »¥» PRODUCE MARKET IN STEADY TREND Dairy Products, Eggs and! Potatoes Show Gains During Week. Prices of farm products as a group showed a falrly steady trend the first week of September, says the United States Department of Agriculture, B\l-l reau of Agricultural Economics, Market News Service. Gains in dairy products, eggs and potatoes were offset by weak or unsettled markets on such leading staples as cotton, wheat and live stock. Most of the price changes were mot extreme. One of the sharpest advances was in the potato market, which responded to conditions brought about by lighter shipments. Onion markets were firm. Cabbage sold a little lower. Apples and peaches continued to sell at unusually low prices. Potatoes Higher. After many days of shipments aver- aging only about 500 carloads from all sources, the Midwestern markets began to advance sharply in early Sepumber and some gains were reported large Eastern cities. The upturn nnxed anywhere from & to 40 cents per 100 pounds, n\eraging not far from 26 cents. Nearly all markets reported supplies_moderate and demand fairly good. New Jersey cobblers sold about 85 Cents higher, with jobbing range in a dozen large cities from $1.85 to $2.40 per 100 pounds. Advances of 25 cents or more were reported in various pro- ducing sections of the East and Middle West. Haulings to shipping points were | generally light, but increasing. Onion prices were fairly well main- | tained around $1 per 50 pounds in | Eastern producing sections. The onlon | market in general was fairly steady, but demand continued slow. Trade esti- mates indicated comparative shortage of the larger-sized onions in most pro- ducing sections. Cabbage markets report supply liberal, demand slow and prices tending down- ward. New York domestic cabbage in bulk brings $15 to $19 per ton in East- ern markets. Eastern lettuce has been selling rather high until the past week or so when prices declined sharply to a range of 75 cents to $1 per crate of two dozen heads in the principal consuming mar- kets. Increasing supplies from the Far ‘West weakened the market position. Demand for apples is light in most city markets and in the leading pro- ducing sections. Heaviest receipts in | carloads are from the Virginias, New | York and the Pacific Coast. Prevailing prices in Eastern cities are around 50 | cents per bushel for such standard kinds as the Oldenburg. Peach shfp- ments in_carlots have decreased, but local supplies continue heavy and prices very low in some markefs. General jobbing range in large cities is from 25 Ccents to $1 per bushel or crate. Butter Markets Advance. ‘The favorable position of the butter market, based on decreasing production and storage holdings, together with . good general demand, began to take effect in late August and the first week of September. All markets developed a degree of firmness that was scarcely expected by the trade. Receipts were well cleared out, and buyers found some difficulty in obtaining their require- ments of best grades. Medium and under grades advanced, but not to the same extent as the top scores. As a result there was more than the usual difference between prices of the grades. Storage butter was in good demand, and supplies from that source tended to restrain the upward price trend, but gains of 2 cents a pound occurred in many Eastern markets the first week of September. Egg Market Firm. Although the egg markets since the 1st of September have been generally easy, particularly for the better grades, a one-half cent advance was reported on the lower grades. This increase in the face of a free selling market was brought about by the demand from re- tailers for eggs that could be sold at bargain prices, and the result was a close clearance of the lower grades, while supplies of the top qualities showed some accumulation. The weak feature of the position is the receipts since the first of the month are heavier than expected Unusually heavy receipts of fresh- killed chickens from the Middle West during the first week in September re- sulted in some irregularity in the prin- cipal poultry markets. Both large and small broilers were in short supply and moved well at steady prices. Fryers and larger sized chickens showed sharp increases in receipts, and in absence of strong demand sold at irregular prices. Fowls were in limited supply and held prices well. Live Stock Weak. In general the live stock market at Chicago had a slightly downward trend the first week of September despite gains on medium and heavy steers and heavy-weight hogs. Ohanges in these lines were slight, but fat lambs declined 50 to 75 cents. Eastern wool markets were quiet, but sales tended to increase and prices were ‘well maintained. Prices of feed grains have held fairly steady in late August and early Sep- tember. The corn market, after drop- ping to unusually low levels in late August, has recovered to about the prices of a month ago as a result of less favorable crop conditions reported in Western corn-producing sections. Small receipts of oats have been a strengthening influence in the market for that grain, and active demand from droughty areas has held barley prices firn. Flax has maintained a steady tone. Wheat markets continued weak, owing partly to low Frlces quoted for Russian and other foreign wheat in competing markets. Reduction of 12 per cent in the Winter wheat area of this country would result in lightest planting of Winter wheat in many years. CHICAGO LIVE STOCK MARKET CHICAGO, September 8 (&) United States Department of Agricuiture).— Hogs, 40,000 head, includmg 8,000 di- rect; slow; mostly 10-15 belcw Priday average; pigs and packing sows, steady to 15 lower; 190-250 pounds, 6.35a6.55; top, 6.60; 260-290 pounds. 6.00a6.40; pigs. 5.00a5.50; packing sows, 4.25a4.75,; smooth sorts to 5.30; light light, gocd and choice, 140-160 pounds, 5.75a6.25; light weight, 160-200 pounds, 6.00a6.6! medium weight. 200-250 pounds, 6. heavy weight, 250-350 pounds, 5.35a6.50; packing sows, medium and good, 275-500 pounds, 4.10a5.30; slaugh- ter pigs, good and choice, 100-130 pounds, 4.7585.75. Cattle, 18,000 head; calves, 2500; choice medium weights and weighty | steers and practically all grades year- lings 10al5 higher; lower-grade steers wlxfir weight about steady; she stock generally steady, with' light heifers and mixed yearlings and desirable butcher heifers firmer; best weighty steers, 10.25; yearlings, 10.00; about 4,500 ‘Western grassers in run; general kill- ing quality medium to gcod. Slaughter cattle and vealers: Steers, good choice, 600-900 pounds.- 8.00a10.00; 300- 1,100 pounds, 8.00a10.00; 1,100-1,300 pounds, 8.00210.25; 1,300-1,500 pounds, 7.75a10.25; common and medium, 600~ 1,300 pounds, . 4.25a8.00; heifers, good and choice, 550-580 pounds, 7.25a9.50; common and medium, 3.25a7.25; cows, good and choice, 4.0086.75; common and medium, 2.7524.00; low cutter and cut- ter, 1.75a2.75; bulls (yearlings exclud- ed,. gcod and rhoice (beef), 4.25a5.25; cutter to medium, 3.00a4.25: and| t; thaigimposed on European countries veal (milx fed), good and choice, 9.00a11.00; medium, 7.0029.00; cull and common, 5.00a7.00. Stocker and feeder cattle: Bteers, and choice, 500a1,050 pmmd;. 550:100. common and medi- FINANCIAL. THE EVENING STAR, WASHINGTON, D. C, TUESDAY, SEPTEMBER 8, 1931. NEW YORK STOCK EXCHANGE Received by Private Wire Direct te The Star Office. (Continued From Page 1 Stock and Dividend ~Prev. 1931~ Bals 34 140 pr ($)< 55 60! 118 60 Nat Supply pf (7) Nat Surety (2). Nat Tea (1).. Nevada Copper (1).. Newport Co (1) Newton Steel. N Y Central (6 N Y Chi & StL pf. NY & Harlem (5) Y Investors. . Y Lack & Wn NY N H & Hart (6 NYNH&Hpf (7 N Y Ont & Western. N Y Shipbuilding. . N Y Shipbldg pf(7) Noranda Min v North Am Aviation. Sfi Nor Amer(b10%stk) 126 North Am Ed.pf (6). 1 orthern Pacific (5). 18 k Tire & Rub. 1 Ohto Ol Oliver Farm Equ 3 Orpheam Cir pf (8). 308 Otis Elevator (2%).. 5 OtisSteel...oaviies 2 Otix Steel prpf (7). 108 Owens 111 Glass (2) Acific Gas & BI (2). Pacific Lighting (3). 34 27 22 Pacific Tel&Teleg (7)2808 l2dlfi Packard Motor (40c) Paramt-P(m1.62%p) Park Utah. . . Parmelee Transport. Pathe Exchange. . Pathe Exchange (A). Patino Mines. 4 Peerless Motor Car.. 4 Penick & Ford (1)... Penney (J C) (2.40). Penn Rallroad (3)... Peoples Gas(Chi) (8) Pere Marquette Ry .. Petm Corp of Am(1) Phelps Dodge (1)... Phila&Reading C & T Philip Morris&Co(1) Jones pt (1) Petroleum. . Plerce-Arrow pf (6). Plerce Oll.... . Plerce Ofl pf Plerce Petroleum. Pillsbury Flour (2) Pitts Coal pf. . Pitts Steel pf. Pittston Co. Poor & Co (B) s Porto Ric-Am To(2). Port R Am Teb (B) Pratrie Oil & Gas. .. Prairie Pipe Line(3)’ Pressed Steel Car. Pressed Steel Car pf . Proct & Gamb (2.40) Public Sve NJ(3.40). Public Sv e (6) Pullman Corp (4)... Punta Alegre Sugar. Pure Oil.. Pure Oil pf (8). Purity Bakerles (3). Tadio Corp. Radio Corp pf A 314 Radio Corp (B) (5).. Tadio-Keith-Orph A. Reading Rwy (4)... Reading 1st pf (2)... Reading Ry 2d pf(2) Teal Silk Hoslery. .. Teal Silk Hoslery pf. Remington-Rand. ... Reo Motor Car(40c). Republic Steel Republic Steel Reynolds Metls(1 Reynolds Tob B (3).. Richfield O1l. .. Rio Grande Ofl. St Joseph Lead (1). an Francisco. San Fran pf(6) St Louis Southwn St Louls Southwn pt. Savage Arms (1). Schulte Retall Stores Schulte Stores pt (8) Seaboard Air Line. .. Seaboard Air Line pf Seaboard Oil Sears Roebuck (2%4). Second Natl Inv pf.. Seneca Copper. 5 Servel Inc. Sharon Steel Hoop. . Sharp & Dohme 4 Shattuck (FG) (11%) 11501 Shell Union Oil. a2 Shell Union O1l pi Simmons Co. . Simms Petroleum Sinclair Consol O1l. Skelly Oil...... Skelly Oil pf ww. Socony-Vacuum 1.60. 135 Solv Am pf ww (514). South Port Rico Su Southn Cal Ed (2). Southn Pacific (6). Southern Rwy (m6). Spalding (AG) (1).. Sparks Withing (1). Splcer Mfg...... Spiegel-May-Stern. . 17% 174 High. Low. Close. Close, 3) glrev. 1981 140 18 21 344 140 118 140 18 ‘Tex Pacific Land Tr. The Fair (2.40) Thermold Co Third Avenue. . Third Nat Inv(m56c) Thompson Prod 1.20. Thompson Starrett. . Tide Water Asso Ollf 42 Tide Water As pf(6) 1 Timken-Detroit Axle Timken Roller B(2). Tobacco Products. ... Tobacco Prod A 195c. Transamerica (40¢) . Transue & Will (1).. Tri-Contl Corp...... Tri-Contl Corp pf(6) 3 Trico Products(2%). 26 Truscon Steel (60c). 1 Twin City Rap Tran, 8 1 2 3 Stock and Bales— Dividend Rate. Add 00. nln. Stand Brands (1.20). Stand Brands pf (7). 1 Stand Gas&El (3%). Stand Gas&El pf (4), 1 Stand Ofl Cal (h2%). Stand Oil Exp pt (5). 2 Stand Ofl of Kansas. 3 Stand Of1 NJ (t2).... 202 Starrett(LS) (12%). 1 Sterling Secur (A).. 1 Sterling Sec cv pf(3) Stewart Warner..... 17 Stone&Webster(m2) . Studebaker Co (1. 20) 9 Sun Oll (). Superheater (2%) 3 Superior Oil. 2 Superior Steel. : 3 8 52 7 33 Sweets of Amer Symington (A). . 4% Tennessee Corp(50c) Texas Corp (2)...... ‘Tex Gulf Sulphur(3) (21 Tex Pacific Coal&Oil. = 6 2 4% 4% T2 24% _22% 28% 33% ~ 32% [33% 4 4 4 11 9% 9 = 17 N 8y 9 10 2 11 1 Ulen & Co. . Under Ell Fisher (4). Union Bag & Paper.. Union Carb & (2.60). Union Oil of Cal (2). Union Pacific (10).. Un Tank Car (1.60 Unit Afreraft Unit Afrcraft Unit Biscuit (2). Unit Carbon. Unit Cigar Stores. Unit Corp (75¢). Unit Corp pt (3 201 21 2 Unit Fruit (4). Unit Gas&Im(1.20).. 167 Unit Gas&Im pf(5).. 1 Unit Paperboard.... 1 Unit Plece D W (2).. U 8 & Forn Secur. ... U S Gypsum (1.60). 7 < S Indus Alcohol. U S Leath pr pt (7) l's Pipe & Fdry (2 S Pipe&Fy 18t 1.2 1 Realty & Imp(1) U S Rubber. . U S Rubber 1st pf... U S Smtg & Ref (1). U 8 Steel Corpn u).. U S Steel pf (7)... TS Tobacco (4.40) . . United Stores (A)... United Stores pf (4). Univ Pic 18t pf (8).. 4 31 14 Univ Pipe & Rad 191 Ut P&TL(A) et2.15. % Vadasco Sales Corp. 76% 234 Vanadlum Corp..... 71% 3814 Vulcan Detin (4) 97 26 27% 8 20% 401, T8 90 Vulean Detin pf (7). 7l Wabash RR. 21 Waldorf'Sy Ward Baking (B). Warn Bros Picture: Warner Bros pf 3.85. Warner Quinlan. Warren Bros (2. 2 34 Warren Bros cv pf 3. 20s Warren Fd&Pipe(2). 11 Webster-Efsenlhr pf 208 Wesson O11&8n0(2). 2 Wesson O&Sno pf(4) 1 West Pa Elec A (7)., West Pa El pf (6). West Pa El pt (7). t Pa Pwr pf (6). W 108 . 208 . 40s 108 West Pa Pwr pf (7). 308 Western Dairy (A) Western Dairy (B).. Western Maryland Western Union (8).. Westinghse A B(2).. Westing EI&MIg (4) 530 Westing E&M pt (4) 1208 Westvaco Chlor (2).. 14 ‘White Motors. ... White Rock (141).. White Sewing Mach. Wilcox Oil & Gas.... Willys-Overland Wilson & Co. .. Woolworth (2.40). Worthington Pump.. Wrigley (Wm) (4).. 5% Yellow Truck... 14% Youngs Spring (3) 38 35 Ygstwn Sh&Tube(2). Ygsth S&T ctfs Blue 2 Zenith Radio i 10% Zonite Prod Corp (1) 2% 108 Sales ol Stocks on New York Exchange. in special preferred stocl n Plus 8% in stock. 6% | no regular rete. . 400,000 12:00 Noon 1,100,000 00,000 are the annusl cash f-yearly declaration. 1,400,000 2:10 P.M. FINANCIAL. BONDS ARELONER, | (s o BONDS o] [ VE STOCK PRICES BUT MEET SUPPORT Losses Confined to One or Two Points—U. S. Is- sues Steady. 84 BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, September 8.—Bonds wsrc generally lower today; but, con- idering the sharp bear attack on stocks, the investment market gave an excel- lent account of itself. Losses were con- fined to 1 or 2 points for the most part, and at each steep dip in already over- sold speculative railroad and other do- mestic issues there was unmistakable evidence of support. The Street was chiefly concerned with the British situation and the tone of Labor day speeches in this country. The prospect of increased taxation, emm in the form of income tax or a direct tax on_ fixed income securities, drove down high yleld second-grade bonds and made more acute than ever the demand for tax-exempt or partially tax-exempt bonds like Governments, municipals and high-grade corpormon issues on which part of the tax is paid by the debtor company. United States Government long-term issues were turned over at steady prices. The market for the new 3s, on which allotments will shortly be announced, was quoted at 100 to 100 3/32, or 3/32 above the price quoted last week. In the municipal market, bids on as high as & 3.35 per cent basis for New York State's 4s indicated a record price for the $40,000,000 issue which the State will auction on September 15. Other municipals firmed up also. In the corporate list, firmness or small gains appeared in such bonds as American Telephone 55 and 5!3s, Standard Ol of New York 4!s, General Motors acceptance 6s, New York Tele- phone 5s, Atchison General 4s and Utah Power & Light 5s. In_slightly lesser rated bonds, however, like Co- lumbla Gas & Electric 5s, American I. G. Chemical 51,3, Dodge Brothers 6s, McKesson & Robbins 6'ss, National Steel 8s and Western Union 5s prices broke from fractions to over a point. In the rails steadiness was displayed by some issues. Among them were Alleghany 5s of 1949, Baltimore & Ohio 443 of 1933, Chesapeake Corporation s, Northern Pacific 4s and Wabash 2d 5s. But substantial %osses occurred in a long list, including Erie 5s, Rock Island refunding 4s, Missouri-Pacific 5s, :kzel Plate 435 and Frisco prior lien Forelgn dollar bonds were nearly all lower. German reparations 7s declined over 2 points and German bank bonds, municipals and corporation obligations dropped with them. Austrian 7s, Italy 7s, Milan 6':s, Rome 6!,s, Vienna 6s, Denmark 4':s and other Europeans sold at lower prices. Thcugh business in London was virtually at a standstill pending the new government's budget proposals, Great Britain 5'¢s and sterl- ing_quotations were well supported. ‘The reopening of the New South Wales Savings Bank benefited Aus- tralian securities. There were small losses in Brazilian and Colombian issues, while Argentine 6s were weak with exchange quotations. Chile’s bonds were firm after the reported collapse of the naval revolt. Washin;u; Stock E~x_change_ SALES. Wash Gas 6s B—$100 at 106. Pot. Elec. 6% pfd.—10 at 113, 5 at 113. AFTER CALL. Cap. Tract. 55—$1,000 at 8!%. Wash. R. & E. 45—$10,000 at 945 C. & P. Tel. of Va. 55—$500 at 10413, Cap. Traction Co.—10 at 34. Lanston Monotype—5 at 86. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Bid. Asked & Tel 448 '39 ... el ctl. tr. 85100 Amer. Tel. & T Am. Tel. ‘Anscost| of Vi apiear Traction KR s. Oity & Suburban Ss..... Georgetown Gas 1st $s Eotomac Elec. cons, 5% Potomac Elec. 1953 ; Wash. Alex. & Mt v"non ot Wuhlnnnn ? hington Gas kY 6s. series A. Gu & s 8 Rwy. & Elec. 4s MISCELLANEOUS. Rosg, Inc., 6las.. 1ohncn STOCKS PUBLIC UTILITY. Amer. Tel. tock. A Paid v e Payable in cash tock. _J Plus 80 conts m Paid this year. » Plus 3%% in stock. INVESTORS SHOW PREFERENCE FOR TAX-EXEMPT SECURITIES Thréat of Higher Levy by Government on Incomes Result s Unfavorably in Corporate Bond Sales. Spectal Dispatch to The Star. | ex _ NEW YORK, September 8.—The| threat of higher income taxes next| year on the earnings of individuals and { corporations is already having its effect in the way of a preference.shown for | tax-exempt over taxable securities and the beginning of another movement similar to that in the last quarter of 1930, when owners of stocks and bonds sold them in large anmounts in order to establish losses. There was much food for thought elong this line in the #arious expres- sions of Labos day speakers throughout the country. A number of them voiced the opinion that the rich men of the United States would be looked to to as- sist this Winter's unemployed. In some instances this was recommended in the form of direct gifts to the welfare work in communities and in others by means of raising the upper brackets in the in- come-tax schedule. The statement of Senator William Borah that “there is only one thing to do, and that is to feed the people from the Treasury of the United States and increase the in- come tax, particularly in the higher brackets,” was the subject of much dis- cussion. Supporting this general idea was the opinion today of John Moody, Who might be termed 4 Wall Street man, to lhe effect that if the United States is to lead in recovery it must first consid- er certain sacrifices, among which are increased Federal revenues from taxa- tion and a reduction in the tariff. Mr. Moody points out that the tax burden in the United States is not comparable since the war, and that 8 temporary ad- vance in Pederal taxes would go a long way to re-establish cond'ticns through- out the world, as it would be assoclated with a reduction of war debts. For weeks the mr.jor business of many investment houses has been in tax-ex- empt bonds. The demand for such is- sues has been associated not only with the element of prime security in them at a time when investors have ques- tioned the worth of many corporation issues, but with the exemption prlv?ge which these bonds enjoy from tax payments. Subscriptions to the various issues of Treasury obligations mdwthehnlwrmdmmm:mbonm also haveReen made to a considerable tent because of the immunity which come taxes. It is believed that an effort will be made at the next session of Congress 147 increase the higher brackets of the present income tax law and to mate- rially advance the amount of inherit- ance taxes. of the schedules of the Whitney estate, indicating & fortune amounting to a quarter of a billion dollars, made a most unfavorable impression at a time when there is @0 much unemployment and distress throughout the country. It seemed to Stock Exchange houses last year that every one who had losses on securities must be taking these losses, in view of the great amount of liquidation and exchanging that occur- red between tober and the closing week of December. The effect of this was conspicuous in the 25 per cent de- cline in income tax payments this year, with many individuals who formerly paid thousands of dollars nnnunlly in taxes showing pract no _ tax accrued on their 1930 uhedulu How- ever, additlonal losses have occurred during 1931, when the average of rails and "‘e ustrials especially has declined much Below that of last year, so that again there exists in the current liqui- dnmg movement the element of stock sales to establish income tax and to relleve holders of securities but nominal payments in 1931. fact is one that the Treasury ment is considerin, greater attention n it did a year ago, when it was inclined to minimize such sales in the amount of income tax estimated to be paid this calendar year. The selling raturally has been heaviest in ra d stocks and railroad bonds because of the greater pefrcmr.lge of decline in_them this ynr thm industrials. ‘There has al exchange of rail stocks for publlc utill- ties at about the same price and yield art- and also of individual fill stocks whese | M: passed or are B dividends have been insecure for the shares of other carriers that have been able to go through the deprenlon with a better record for net rating income. In numerous cases lnltltutl\)nl have been selling railroad bonds rather than marking opprisht, 1003 these obligations have from normal in- | o, ‘The publication recently | 1, earlier “I‘?ep with | peck wn their | Empl pflmmmnwm‘hmetubmmc Trvi) of losses : Washington Produc goPutter—One-pound printe, 31; !&n—flennm, 28; current receipts, 18a2 Poulu'y alive—Spri; broilers, 3 pounds and over, 26a27; 2 to 2% ds, 24a25; 1'% to 2 pounds, 22a23; horns, 18a20; hens, large, 23a24; small, 21a22; Dressed tub, Ing and over, 32a33; 2 to 2} pounds, 29a homs 30; 113 to 2 pwnds, 27!2!; 25; henl. hrle. 2782 23; coosters, 13al4; Long lsl-nu dllcb. 21a 2. Meats—Beef, prime, 17; choice, 16a 16%; good, 14al5; medium, 13a13%: cow, 10all; vell top, 16; medium, 1 15; lamb, top, 20; um, 17a18; pork loins, 8 to 10 pounds, 25a26; 10 to 12 ; 12 to 14 Dollndl. 18a19; ; smoked hams, 21; Mp bl::n, 22a23; lard, bulk, 10; package, Live stock—Hogs, heavy, 5.7526.00; medium, 6.80; light, 6.50; pigs, 6. roughs, 3.00a4.25; calves, 7.00a9. lambs, 4.00a7.50. Fruits—Watermelons, 15a35; canta- 1.15;" nearby, loupes, Colorado, flats, 1. honeydews, 1.75a2.00; Per- .;i-n melons, 2.00a3.5 peaches, 50a1.00; grapes, Concords, 1 1.00 81.25; Tokays, 2.25a2.50; Thompwn leedlen. Plnfllwlu. prunes, 1.00; figs, 5.00 peck baskets, 1.00a1.25, bananas, 50a1.75. qut:hler—l’oumel per barrel, 1.75 noo nle;t per bushel, 15-100 toma- Ty, 584.00; mtm:e Tceberg, 65 5.00; New York, 1.2581.50; carrots, per 100 bunches, 3.00; beets, per 100 bunches, Sx 75; okra, two- 1.00; squash 50a75. e i NEW YORK BANK STOCKS NEW YORK, sopwmher 8 (. —Over- ‘the-counter mu'.k < 3 E H Ameries Ghat Ph!nu & TRUST COMPANIES, & g2 gasbleey » usde sashisey !giaz languages. | Buff Gen E1 415 UNITED STAT ES. (Bales are in $1,000.) Bales, 'Hish. Lib 3% 32-47.. 20 102 Lx-tflnn 7 14 L4th4%s uvubaz 102 17 2 108 3 112 10 Abitibl P&P sl'u.. Ab&St6% "’ . Adams Exp u '48. ny Cp 65 '44 Allegheny 68 '49 Allegheny 58 '50 Am Intl5%s'49. .. Am Metal 5%8'34. Am'N Gas 6% 142 Am T&T c tr bs '46. Am T&T 588 1'60 Am T&T 5%s'43 Am W Wks 5s'34. Am Wr Pap 68°47 ‘Ann Arbor 4s°95. Argentine 58 5. .n Arpentine 5%s '62. Argentine May '61. Argentine 6s Ju's9. Argentine 6s Oc'59. Argentine A5T.. Atgentine 6s B '58 Arm & Co 4%s'39 Arm Del 5%s"43. . Atchison gn 45 '95.. Atchiscy 4%8"48.. AtICL1st4s'62... AtICLcl 4852, AtGuif 55 '59. Atl Ref db 55°37 Australia 4’,&!'5! Australia 5 55, Avustralia 58 °5 Austria 7843, Austria 78 '57 ctfs. B&OCv4%s8'60 B&O1st58'48... Orf6s'95., O 58 D 2000, B & O Swdv s '50. Bk of Chile 638 '57 Bk Chile 6%8 sl.= Belgium 6%s " Belgium 78 ‘56 Bell Tel Pa 5s B'48 Bell Tell Pa 5s C'60 B Ind Loan C 6s'46 Berlin C E 648 " Beth Stl pm 5836 Beth Stlrf 5%s'42. Bolivia 78 '58. Bolivia 75 '69. Bolivia 8547 Bordeaux 6s '34. Bos & Me 58 '55. Bos &Me 55 '67 Brazil 6148 Brazil 613827 Brazil Brazil 8 Bremen 7s Bklyn Un 58" Bklyn Un 18t 58'50. Budapest 68 '62. Buenos A 6s'61 Pv. 4831, Bush T Bldg 55'60 Gan Pacab ds, Can Pacific 438 46 Can Pac 435’60 Can Pac 58 '44..... Can Pac 58 '64. | car Clin & 0 65752 Cent 111 G&E 58'51. Cent Pac 48 '49 Cent Pac 5560 Cert-td db 518 Ches Corp 5847 C&Ogendks C&O 4%93A'93.0 C&O04%sSB'I5. Chi & Alt 3 CB&Q4%s'T C B&Q Istrf 53’71, CB&QI1dv 314849, CB&Q 111 dv 4s’49.. Chi & Est 111 58'51. Chi Grt West 45'59. 60 63 Chi M & St P 48’89, CM&StP 43%s'89. C M StP&P 58'75.. 82 CM & St Padj 5s..127 Chl & NW gn 4s'87. 11 10% | Chi R1&P gn 4 SRR NATIONAL BANK. Capital (14). Col BR&'Tr. (3). 2ona '(ve) Washington (13)’ TRUST COMPANY. Sec. & Tr, Co. (15). Dom.lnenul Trust (6) v & Trust (i Efince Georges B & Tr nion Trust Wash. ust (19 h. Loan l VINGS BANK. ok of Ietheldn (65) S Bavings (10) Vi 1 United States (30)....... .. Washington Mechanics (20 FIRE nlsummcz American (12). preoran. (19). TITLE INSURANCE. Columbia = (6h) Real Bstate (6h). MISCELLANEOUS. & Ross. Inc., com 3 Emer. Bromo-Sel « Pederal Borage nm @ 1.201)" a6 sesEing’ 2%, hnnn xern“:?m-lor Natl. Mty Peopl s.::é..E._ P laige com. !fld‘“’l)v com (1.20) wwfl'nd & Lothrop pfd. (7).. - ividend, 2% extra. SBBoks Closed. T extra. extra. extri 130c extra. #1% _extra. el%a% extra. “BLUE CHIP” STOCKS. NEW YORK, September 8 (Special). —Market analysts believe that the so- called “blue chip stocks” are still too hlchmdwfllh;vembebm‘html lower level before the general nurket turns. As they play an lmpomn in the averages, these same people i that then is the mobabuuy that liqui- dation in this group wlil reduce the general average. below the low of last June. In this class are a number whose dividends are likely to be re- duced. The J. I episode week was one for which the Street not prepa It indicates the bearish position technically in stocks that have already experienced a shrinkage of be- tween 50 and 75 per cent. S s w 'l‘rlt Boclety of London into 123 different -~ Chi RI& P rf 4; ChiRIcv4k%s ChiRI&P 4%s'52 Chi Un St 5844 C& W Ind5%s'sa. Chile 6560 COCSt L 458 ET2 Clev Term 4%s'77. Clev Term 5%s'72. Cologne 6%5°50. .. Colon Ofl 6s '38 Col G&E cou 58’61, Com Inves 5%s'49. CC Md 1st rf 58'50. ConG NY 4%48'51.. Con G N Y 5%8'45. Con Pwr Jap 6%s.. Con Pow Japan 7s.. Consum Pow 58 52, Copenhag 438 '53 Copenhag 58 '52. Cuba 5%8 45 Cuba Nor 514842, Czecho 88 '61...... Del Pwr&L 4%s 71. Del & Hud rf 4534 Del & Hud 5%8°37. Denmark 418 '62. . Denmark 5%s '5 Denmark 6s'42. D&RG W 53’55 DRG& W 58°'78..; Det E G&R4%s'61. Det Edison rf 5549, Deutsche Bk 6s '32. Dodge Br cl 65 '40 Donner St 754 Duquesne 4% s Dutch East 16 Dutch East I 6 East C Sug 7% El Salvador 8s Erie 15t con 48 '9f Ena §2°15. Fiat 7s ex war "46. Finland 5%s '58. .. Finland 68 °45. Finland 6%s 5 Fram lD'I%l‘Q!. French 7s " French 7%s 41, Gelsenk'hen 6534 German 7s rep "49.. German Bank 78 ‘50 19 67 Ger Gen El 78°45. .. t Goodrich cv 68’45 Good 15t 6% Low. _Close. 9 102 7 102 7 102 27 102 28 104 25 104 25 101 1101 1 10212 10212 102 16 102 21 102 14 102 14 107 30 107 30 112 4 11210 Bales. High. Low. 63% 58 101% 1% Goodys Rub 6867,y 21 91 . GrandTr st db Grand Trunk Grt Nor 4%s'76 D. Gre Nor 434817 E.. Grt Nor 5873, Grt Nor gn 5%s '52. 29 m 6. Grt Nor gn 78 Greek 6568, Humble O1l 6837, . Humble O 5%s '33. Hungary 7%s ‘44. . 111 Bell Tell 5766 Tl Cent 4% *66. . 11 Cent 6% '36, 111 CCStL&N 58 Inland St 4%s A’ Inland St 43 s B'81 Int Rap Tr 6866 .. Int Cement Int& G Nadé Int Hydro El Int M Co 53 rcl'u.. Int Match 68°47... Int MM col tr Int Pap 55 A 47 Int Pap 6s°55 Int T&T 4%s8°52. . Int T&T cv 4% Int T & T b8 '56 Irish Free St 58 Italy 78’51, Italy Pub S 78 '52.. Japanese 5348 ‘65 Japanese 6148 '54. . Jugosl Bnk 78 '57. . Kan CFtS&M 45°36. Kan City Sou Kan City Ter Karstadt 6s°4 Kresge Found 6536 Kreug & Toll 68'59 Lac G St 6s'34. Laclede 5% 5 C'63 Laclede 5% s 1 60, Leh Val ev 48 2003. Leh Valley 58 2003, Lorillard 58 Lorillard 5% 15t 51482008, Lyons 6s'34....... McKes & R5% 50, Manh Ry 1st 45'90. Man Ry 2d 48 2013. Market St 78°40. .. Marseille 65°34.... Midvale Stl 65 '36. . Milan 6158 '52 Mil E Ry & L 5561, M StP&SSMcn 4s. . MK&T 1st 48'90.., MK & T adj 55'67.. MK&T prin 5sA'62, Mo Pacgn4s’75... 1 Mo Pac 55 A '65 Mo Pac 5s F '77 Mo Pac 5s H '80. Mo Pac rf 53’81 Mont P db 55 A '6! Nat Dairy 514848, Nat Ry M 45 Nat Steel 5556 Netherlands 6s 7 N Eng T 18t 58'52. \(DT.\!Q!B'54 Nw S Wales 5s'5' Nw 8 Wales 5 NYCgniizs'sr N Y Cent 454 \ Y G em db 4 Tf 43482013, >rfim 582013, 13 NY Centdb6s'35.. 1 NYC&StL4s'37., 2 NY C&StL 43;8'78.155 NYC&StL5125A'74. 2 NY.C&St L 653 8 N Y Edisn 5s B'44. . NYFd1st6}4s'41. NY ELH&P 4s NY ELH&P 58 \ O&W gn 43 5! \\ StRy 43862, NY Tel 43539 N Y Tel 6541 NY W&B 4338 '46. . Nia Sh Md 5338 '50. Nord 6%s'50...... Norf South 58 '61. .. Nor & Wnev 4896, No Am Co 58 Nor Am Ed 58 Nor Am Ed 53 C '69 Nor AmE 5%8'63. Nor O T & L 68 '47. Nor Pac 38 2047 Nor Pac 45°97. Nor Pac 55 D 2047 .. Nor Pacr16s2047. Nor St Pw 5s A "41. Nor St Pw 65 B"41. Ogden&L Ch 4548, Oreg-\Wash 48’61 Orient dev 5348 Pac G&E 5842 Pac T&T 1st 58 '37. Pan-Am Pet 6s '34. Pan Am Pet 68°40. . Paramount 68 ‘47 Pathe Exch 78'37.. Penn 4%s D81 Penncv 4%8°60. Penn gn 4%s'65. Penn 4%8°70... Penn Q&D 4% Penn P&L 4% Peoples’ Gas Peru 78 '59. Phila Co 58 °67. Phila Elec 48'T: Philippine R 48’ Phil & Read 6s'49.. Phillip Pet EKI 39. 27 Poland 6s Pos Tel & C 58'53 Prague 7%s'52 Prussia 6s ‘52 Pure Ofl 5% Queensiand b Queensland 7s B Readgn 4%s A'97. ‘Reading C%IB 97, Rem R 5%8 A '47.. Rhinelbe 7s '46 . Rhine West 65'53.. Rhine West 6s'55. . Rhine West 75'50.. Rich Ofl Cal 68 '44.. Jan 6%s'53. RGr Do Sul R Gr Do 8ul '52. RoyDés'4s ww... St L&SF in 4s A.'50 StL&SF 4%s'78. StL&SF p 158 B ‘60 StS Wendn's2. StP&KC SL 4 %841 Sao Pau 78’40 ret. Sao Paulo 88’50 Saxon P W 6% Saxon 78°45. Seab A L rf 4 Seine 7s '42 Serbs-Cr-S1 78 *62 Serbs-Cr-S1 8s'62.. Shell UnOil s '47. 8 Shell Un Ol1 58'49. 24 otsu 3. 8 Sales. High. Low. 36 11 107% 107 1 118% lllk 5% 99% 3% 102% 6% 102% 107 113% 24 ON BETTER BASIS v Outlook Declared Good for Fall Months, Due to Scarcity of Supply. By the Associated Press. It looks like a walk-away from now on through the late Summer and Fall months for heavy, well fed steers. The trade based this prediction on continued scarcity of highly finished stock, a condition which has been in- creasingly apparent for the last three weeks. Steers scaling 1,200 pounds upward sold at the top of the market at Chi- cago as the week ciosed, having sup- planted yearlings as market toppers. Good and choice medium-weight and weighty steers showed an advanee of 25 cents, while grade yearlings and light steers worked 25 to 50 cents lower, Advance at Omaha. Omaha saw the same advance on weighty stuff. Despite a 15,000-head shorter supply at Kansas City the beef steer and vearling trade took prices 25 to 50 cents lower than a week ago on most classes. The Missour market gave strictly choice 912-pound yearling steers a circult top of $10.25, but most fed natives cashed $7.75 to $9.25, with grass-fat kinds numerous at $4 to $6. In anticipating strong to higher pric- es on weighty steers the bearish angles of the trade must be considered. The beef market is very dull and this week generally lower. Prices declined 50 cents to $1 at New Ycrk and $1 to $2 at Chicago. The Labor day holiday helped step up the live cattle market late this week Beginning soon and to continue through September and October there will be several Jewish holidays. which always have a more or less umemmg effect on the market for heavy cattle. Against the weakening factors can be placed the expected scarcity reflect- ed by recent marketings. In all proba- bility not only well finished weighty steers, but strictly grain-fed offerings of all weights will remain at a decided premium over in-between grades. Heavy fed steers have come back un- til they are almost as high as any time this season, but there is a very wide spread now between common and me- dium grade grassy and short-fed heav- les and strictly grain-fed offerings. The general hog market has car ried on without any drastic outward change, slthough heavy hogs continue to gain on th- lighter weights. Chi- cago gave heavies a price steady to 10 cents higher this week, while lighs were steady to 15 cents lower. Pack- ing sows advanced 15 to 25 cents. Extent of Gain. At Omaha, medium weights heavy butchers gained 25 cents and finished lights traveled down 10 to 35 cents. Hogs were unevenly steady to 25 cents higher at East St. Louis. me- dium-weight butchers and packing scws showing the advance. A 10-to-20-cent a:n was scored for heavies at Kansas Material reduction In the supoly of heavy hogs was the main strengthening factor. Light, unfinished hogs are rur ning very freely. The supp loins in New York increased 2: last week. sending prices for th> cur- rent marketing period down $2 to $4. the bulk of the break registering § light loins, which not so long ago w selling better than hesvies. Heavy loins were 50 cents to $1 up at Chicago, but lights eased off $1 to $2. Sheep and lamb receipts increased €0.000 head around the ci t] week and fat lambs broke cents at Chicago, the showier kinds 75 cents to $1 2t Omaha, 25 cents at East St. Louis and 30 to 50 cents st Kansas City. Compared to the drcp in the Chicago live price. dressed lamb in New York declined $2 and was $1 to €2 lower at Chicago. Sorting Is Heavy. The quality of the live supply refleet- ed the lack of finishing feed. and pack- ers, to obtain a fair prcportion of up- per-grade lamb, had to go afield, directs at Chicago for the first four days of the week numbering more than 13.000. compared with 5.700 the previous week. Sorting on the open market was heavy, in some instances almost 50 per cen! Coolers are loaded with low: grade carcasses, giving buyers of live offerings the upper hand. Will Enlnrge Plant. NEW YORK, September 8 (£).—Gcn- eral Mills, Inc. has completed plans to increase materially the capacity of its cereal package foods plant at South Chlclfo ‘This is the third increase in this t since early in 1930. Sales. Sinelair 011 6%s'38 5 92 SincO7scvA'37.. 14 96 Sine CrQ51:='38.. 7 102% Sinc PL%s" 42 .17 1014 Skelly Oil 5% 14 Solnsons 6536 Solvay Am 55’42 Sou Bell T&T 5541 SW Bell T 58 A '54. Sou Pac col 4s'49. . Sou Pac ref 4s'55 Sou Pac 415 '68... SouP 414869 ww. Sou Pac 4%s'81... Sou P&OT 4%s '77. Sou Ry gn 4s°56... Sou Ry 55'94. Sou Ry 6s 5 Sou Ry 6%s High. Low. Close. 92 95 9« 1024 102 9%, |StOIIN J StOIINY 4%s’ Sug Es Or 7s'42 Sweden 5348 ‘54 Swiss 5%s '46.. Talwan EP 534871 Tenn El P 68 A '47. Ter As St L 4s'53 Tex & Ark 53,850 Texas Corp bs 44 Tex&P 1st b5 2000 Tex & P 55 C Third Av rf 4s Toho El Pw 7s '55 Tokio 5%s '61 Tokio El Lt 6s 3 Tol St L&W 4s'50.. 1 Un Pac 18t 4s"47... 46 bn?lcll'&l 18 Teeee T P istrf5s2008. 2 nit Drg cv 58 '53.. 13 Utd King 5% 200 U S Rub1st5s'47.. 7 UnSt W 6%sA'47. 24 Ud St W 6%sA'51.. 12 Uruguay 6s°60.... 10 Uruguay 6s'64. Uruguay 8s ‘46 Utah P& L 55 '44 Util Pw 58 '59 ww. Util Pow 6%s "47 nadium St 5541, Vert Sug 15t 78 '42. Vienna 6s 5. Wabash 4%s Wabash 1st 55 '39.. Wabash 2d 5s°39.. Wabash b: Walworth 6s ‘Warn Br Pic 65'39 Warner Sug 7 u. Warsaw 7s ‘58 West E1db 58 44. . West Md 4s '52. West Md 5%s'77 West Pac 55 ‘46 West Union 5s " ‘West Union 5s 50‘ Wes* Un 61%s ‘36 Wil-O 18t 6355 '33.. Wil & Co 1st 6841, Yokohama 6s 61. Ygstn S&T 55 A'78. Ygstn S&T 58 B'70, 3 o a RRoNaINaNSRnRERe wam aSanE o ®me 1o BEE Bon’