Evening Star Newspaper, September 11, 1931, Page 15

FINANCIAL. CURB ISSUES GIVEN SUPPCRT AT CLOSE H | Early Break in Utilities Re- sults in Attack on Other Issues. BY JOHN A. CRON Bpecial Dispatch to The Biar i NEW YORK. September 11.—Public utilities were pressed for sale at the | opening of the Curb Exchange today | and ths selling soon spread to other sections of the list, bringing leaders of | many divisions into new low ground for the year. i A rally at the close reduced earlier Josses, and some issues finished higher on the day. \ The American & Foreign Power sit- | uation caused further weikness in the issues of the parent hoiding company, ' Flectric Bond & Share, all of which | broks to new low levels for the yesr or longer. Citles Service was off about & half point and Standard of Indiana | was a shade lower Selling from overseas unsettied Buit- ish issues, though some of the offeZings were from local holders. Th» new Brit- | ish tcbaceo tax had the effect of break- ing British-American Tobacco B to & new low price. Ford Motor, Ltd., like- wise established a new minimum. Bra- vilian Traction resisted pressure. Associated Gas & Electric A, Electric Chareholdings preferred. Electric Bond & Shars common and $6 and $5 pre- fegreds, United Light & Power A, Niag>ra Hudson B warrants, and Cen- tral States Electric preferred ex-war- rants were the first cf the utilities to slide to new lows for 1931. Meanwhile, weak spots d-veloped else. where. Blue Ridge common hit a rec ord Jow and United Founders duplicated ite low. Appalachian Gas, Hach- meister-Lind and General Aviation slipped to record lcw prices. Singer Manufacturing dropped 19 points on its initial trade late in the third hour after declaring an extra | dividend of $1. compared with $2.50 extras previously. Markets at a Glance NEW YORK. September 11 (P fitocks irregular: supporting orders ef- fective after new lows. Bonas irregular; 17. S. Governments recover. Curb ir- | regular; short covering checks decline. | Foreign exchanges irregular: sterling | and reichsmark gain. Cotton higher: | Wall Street and Southern buying. Sugar easy: increased spot offerings. | Coffee lower; foreign selling | CHICAGO. September 11 (P, —Wheat firm: bullish Government Spring | wheat estimate. Corn firm: _bullish | Government estimate, firm cash mar- kets, Cattle steady. Hogs higher. i CHICAGO STbCK MARKET By the Associated Press CHICAGO. September 11.—Following | is the complete official list of transac-, tions in stocks on the Chicago Stock Exchange today | Sales STOCKS. h. Low. Close. | 350 Allied Mot Ind 1 iy 100 Allicd_ Prod 50 Am Eauities 50 Am Pub Ser pf 100 Appalach 0 Assoc T & 1200 Assoc Tel 100 Assoc T | A A pf -Blessing 100 Burnham Trad 300 Butler Broy 30 Cent. 30 Cent 30 Cent 400 Cent 100 Cent 30 Cent 30 Chic 130 Chie Invesiors 100 Chic_Inyest pf 10 Chi No Shore & 50 Chi No Sh & M 2300 Cities Service 1450 Comwlth Edis 400 Cont. Chicago 330 Cont Chic pt 1300 Cord Corp 1750 Corp Sec 300 Corp_ Sec cifs 750 Crane Co 100 Curtis Lizht 50 Elee Household 50 Foote G & Mach ... 1930 Gt Lakes Afrcraft 300 Gt Lekes Dredge 2700 Grigsby-Grunow 50 Hall Print 300 Hart-Carter pf 100 Houdaille-Her B 8700 Insull Uil : 750 Insull U pf 2nd Ser 50 Invest Co of Am 100 Iron _Fireman 250 Jeflerson Elec 400 Kalamazoo Stove 50 Katz Drug 60 Kellogg Switch pf 200 Libby-McNe 500 Lincoln _Print 50 Lincoln Print pf 100 Lion Oil_Ref 330 Lynch Corp 50 Merch & Mfrs A 100 Met Ind Co_allo 150 Mid West Tel 10800 Mid West Uil SOMid W Ut 67 pf A 550 Mid W Ut A war 330 Mid W Ut B war 550 Midland United 10Mid Ut 7 A of 40 Mid_Ut 6% bl 200 Mo-Kans Pipe 100 Modine . 100 Morgan ‘Litho 70 Nat Battery . 100 Nat Elec Pow A 150 250 1 Mpl I RR Nat Secur Inv 30 Nat Secur Inv bf 50 Noblitt-Sparks 50 North Am Car 400 Nor, Am L & Pow 1050 Nor'west Bancorp 430 Ontario Mfx 100 Berfect Circle 250 Pines Winter 23us 3 3588 1] Steel pf 00 So' Union Gas 100 Standard Dredge pf 200 Stand Pub_ Ser 40 Storkline Furn 850 Swift & Co 1050 Switt_Intl 50 Tel Bond & Sh A 10 Tel Bond & 'Sn st bl § NEW YORK CURB MARKET sold In 100-share Stock and Dividend Rate. Aero Underwriters.. 3 9 Affiliated Prod1.60.. 5 20 Aluminum Co of Am 36258113 AluCoof Ampf (6). 1 Alum Goods (1.20). Am Cit PALBb10% . Am Com P A (b10%) Am Com Pwr 18t 615, Am Corpn (f30¢ Am Cyanamid B. Am For Pow war. Am Founders....... Am Gas & Flec (1), Am Hardware (4)... Am Invest Inc (B).. Am Lanndry Mch(2) Am L.t & Trae (24) . Am Superpwr (p40c) Am Superp 1st () Am Util & Gn B vte. Am Yvette (2ic) Appalachian G Appalachian Gas wr. Arkansas Nat Gas Arkans Nat Gas A Art Metal Wk (60c) Axs0 GREI (A) (al). A8s0 G & Elct (8). .. Asco GEEall et 1.60. Asso Tel ['t (b8%) Atl Sec cu pf ww(d). Atlas Plywood (2) Atlas (71il Corp. ... Atias Utilities war. . Babcock & Wil (T).. Beneficial 1 1, (1%). B (EW) (nl). Blue Ridge Corp. ... Riue R Cpcv pf (ad). Brazil Trac LI&P(1) Brit ATrg 1174 Buft N&EP pf (1,605, Cable Radio T vte Cable& Wire Brets. Canadian Marcon ... Carman & Co A (2).. Carrier Corp........ Cent Ind Pw pf (7)., Cent Pub Sve A h3 %, Cent Stat El (b10%). ‘ent St Ecv pfnat. ent St Kl pf xw(6). ent West PS ALl Chain Store Devel. .. Citles Service (g30¢) Cities Serv pf (6)... Clande Neon Lis Inc, m(160). Stocl ~Prev. 193 High. Lov. 12 LY 244 11% 224 90 109% 95 16% 11w 10 5% 17 7 Bt 120 311y 5la iy 5 9 39 268 1 =S 25% Cmwith Cmwlth & Sou war. . Com Wat Ser g12%3¢. Consol Aireraft. Con Gas Balto (3 Cooper Bessemer . Cord Corp Cosden Oil Creole Petrolenm. Crocker Wheeler. ... Crown Cork Intl (A) umberiand P L (2), Curtiss Mfg Co (A). Cusi Mex Mining. Darby Petrolenm. Dayton Air & En Deere & Co. De Forest Radi, Derby Oil Refining. . Detroit Alreraft Tow Chemical (2) Dress ST A (332) Dresser Mfg B Duke Pow (3) Duquesne Gas. . Durant Motors Duval Tex S: =3 0 isler Eleetric. ... .. Klec Bond&Sh(b6% ) Elec B& Sheupfs.. Flec B & Shpf (6)... lec Pow Assoc (1) Elec Pow Assoc A (1) lec P& Lt op war.. 1 Shareholds (h6 % ) lec Sharhldg pf(a6) Corp.. mp Corpev pf (a Emp G & F cu pf Empire Pwr pt(2 Employ Reinsu +1.80 Fureka Pipe L (1) Europ Elec deb rts Fageol Motor. . . Fansieel Produci=. .. Federal Baking Shop : Ford M Can A (1.20), Ford Mot Frn 37 Ford Mot 1.1d 36 Foremost Fabric: Foundation For § Fox Theater (A).... Garlock Pkg (1.20).. » E SR IR RR O DT — Y A AR A NI NG ~ AN AR R B N F BN R NN NE S N A B —— Gen Aviation. ... ... td res 36 3-3¢. Gen Empire (1). Gen Fireproof (2) Gen G&E cv pt B(8).350s Gen Theat Eq cv pf. Glen Alden Ci 4). Globe Underwr (15¢) Golden Center...... Goldman § Gold Seal Gorham Incpf...... Guit Ofl of Pa (1%3). . Hackmekter Lind. .. Hamilton Gas rets Helena Rubenstein . Hygrade Food Prod o Imp Oil of Can (50¢c) Indiana Pipe Line(1) Ind Ter1lu Ojl A . Insull Inv (b6%)... Ins CoofNo Am +27% Insurance See (40c). Intercontinent Pet n. Int Hydroevpf3i;. Int Petroleum (1) Int Superp (11.10) Int Utilities A (3'2). Int lities B. . 34 Int Utilities war. . 3 Insull 'ti] 2d pf (§). 1008 Inter Equ v pf (3).. Iron Cap Copper. . Irving Air Chu 1) Italian Superp war.. Italian Superpow A. . Kirhy Petroleum iKolster-Br (Am Sh). T.ackawanna Sec (4) Lake Shore Mines(2) Lakey Foundry . Lefcourt Realty . Lefcourt Real pf (3) Teh Coal & Nav 1.20. Ley (Fred T) & Co. . Lion Oil & Refining. . Lone Star Gas n 88c. Foa ~Roaan 9 2 0 00 MO8 i 10 S35 > Ed H » o3 ® xeent those desismated by letter Sales-— Add 00. Open. THE EVENING STAR, Received by Private Wire Direct te The Star Office Stoek and Bales— Dividend Rate. Add 00, Open. High. Long Island Lt (60c) 3 30 30 Long Isld Lt pf (7).. 10s 112%4 112% Louisiana Lan & Ex. w MacMarr Stores (1).. 10% 10% Magdalena Synd. * Mar Inf Mar(78 35¢) . 6 6% Mnss Util Assoc. . 3w Mavis Bottling (A) 1% Mayflower Aaso (2) 26% Mercantile Stra (1) 23 Mesta Machine (2). 2015 Met Chain Stores. % Mid Sta Pet vic B. . Mid West Ut (b3% ). 4% Mid W Sts Ut b10% o~ Mo-Kan Pipe Line 4 Mock Judson Voehr. 6 Moody's 18 pt pf (3) 19 Mountain Prod (1).. 4 Moss Gold Mines. . % Nat American Co. 2 Nat Aviation. . 5% Nat Bd & § Corp ( 28 Nat Family Store: Nat Fuel Gas (1).. Nat Investors. . Nat Pow & Lt pt (6).100s Nat Service Co Nat Sh T Sec A $60c. Nehi Corp (60c) New Jers Zine (13) Newmont Mining. N Y Merchandise (1) N Y Telpf (834). ... Niag-Hud Pow (40c) Niag-Hud Pow A w Niag-Hud Pow B w Niag 8h Md (40¢).. Niles-Bemt-Pond (1) Nipissing. Nor Am Aviat A war. 11 NoAm L& P (h8%).100s North European Oil. 32 Ohio Copper 108 Ohio Oil cu pf (6) Onhtio Pow pf (6) PacG&EIstpt1l. Pac Light pf (6).... Pac Western Oil. Pan Am Afrwa . Paramount Cab Mfg. e Davis (11.65). Parker Rust Pr (3) Peninsula 1 (1.40) ., Pennroad Corp (40c) Penn Wat & Pow (3) Peoples L&Pwr (A). Perryman Electrie. . Philip Morris Ine. Philip Morris A, Phoenix 8 C pf (3). Pilot Rad Tube A . Pitney Bowes (b4 %) Pittsburgh& LE(+10) 50 Pratt & Lambert (4). Prod Roalty (b10%). Prudential Invest Prudence Co pf (7 Pub 1'til Hold war. Pub 17til Hold xw Pyrene Mfg ("o (40¢) Reeves (D) (1%). Reliance Int A llance Manag Republic Gas Corp. . Reybarn Co. Reynolds Invest. Rock Lt & P (90¢) St Anthony Gold. ... St Regis Paper (60). Salt Creek Pro(1.40). Schuite Un 6e-31 St Seaboard Util (28¢) . Sec Allled Corp (1) ecu Corp Gen (40c). Seeman Bros (3) Sexal 1. & H (a50c) Seiberling Rubher Selecred Industries Slet Ind prior (313) Sentry Safety C ShawiniganW&Pp 215 hattuck Den Min. henandoah Corp. ... henandoah pf (a3). 1erra Pac El pf inger Mg (o (1161 Singer Ltd rets(28¢) mith (A O) olar Refining 0 Am Afr Lines s South Penn Ol (1) SouCal EApf C(1%) Southern Nat ( 3 Southld Rovalty W Bell Tell pf W Penn P&L (1) pieg May Stern pf. . tand invest em pf..100s Stand Ofl of Ind(1).. 83 tand Ol of Ky 1.60. 4 Stand 0§l of O pf (5). B0s Stand P& L pf (7)... 50s Starrett Corp pf (3). 1 Strauss (Nathan) 25 unrav Ol (b3 % ). 3 wift & Co (2). 10 Swift Internat (3). Syracuse W Mach R. Tampa Electrie (32) Technicolor Ine Teck Hughes (66e) Texon Oil&Land (1). Thatcher Sec Corp. .. Timken Det A pf (7). Tonopah Mining. Trans Air Trans. ... Trans Lux DL P S. Triplex Safety Glass, I'ngerielder Fin C I'nion Am Invest. U'n Gasof Canada(1) i Tnit Co . Unit Pry Docks. Unit Founders. Unit Gas Corp . Unit Gas Corp war. T'nit Gas pf (7).. Tnit Lt& Pw A (1) Urit L& Pwr pf(6).. SFElec Pow ww. ... ~Prey. 1931 High. Low. 361 2914 112% 106% % 4% " 6% 3 1 25 20 24% Low. Close. 30 30 112% 112% % % 10% 10% & & 6%h 6% 3% 3% 1% 26's 23 24 * % 14% L an' 6 19 4 L 2in Bty 28 . High, Low. Close. 10 9% 10 20 19% 122 109% 2 9 13 13 6 10% 591 2U 6% 128 2% 59ta 35t 5le 26% 354 9% E3L 1 115 3 s 3 8a 4 % s 10% | 591 | 2% | a.w N e hd L L T 4 1% 3% 6% A 1% 18 i 5% 6 1% 2 148 3 50x 65 1n 308 SRS PSR PIEN- SORUETYY. 1% e mr e AR NN NN Elec Pwr war Inter Sec 1t pf.. Lines pf Plaving Car S Rubber Reclaim. Unit Stores v.tec..... Unit Verde Exten (1) Util PELt(a11.02%). Util Pwr & Lt pl(7). Ttillty Equities Util & Ind .. Util & Tnd pf (172) Vick Financial (30e) Walker (H) (50c)... Woolworth (FW)L.td Woolworth Ltd pf. 2 “Y" Oil & Gas. . ‘ | Dividend rater in doliars based on last quarterly or semi-an- | nual payment. *Ex dividend. tPartly extra. iPlus 4% in stock. #Payable in cash or stock. bPayable in stock. e Adjustment | dividend. fPlus 8% in stock. & Plus 6% in stock. hPlus 1% in \ltaek JPlus 2% in stoek. k Pius 10% in stock. m Plus 3% 1in stock. 1 Plus 8% in stock. p Paid last year—no resular rate. o Us Us S Us 1 18 52 508 3 3 3 2 R 26 3% 5% 17 5oy 4% 10% 5 12 Bl 2% " 20 PLAN FOR EXTENSION OF PAYMENT IS FAVORED The total annual expenditures for | Gasoline and lubricants, $2,730,000,000; these products and services was in ex- | repairs and maintenance, $2,132,000,- cess of $7,800,0000,000 on the basis of WASHINGTON, D. C, FRIDAY, SEPT BONDS ON THE CURB ] .:..:.s::ag gi 3 323832 3S38ABETS238L IS O EEEEE 13 & % 222828 FEE iz TR ‘aterpillar Tr nt Ariz LaP 1l P8 9! ag8=SsossEEansnsass: of% 20 e & S 23328555 1288 08g0 8! :2:‘4_:8::83:833883 = R e 34 55 54 ww 53% Boston 55’93 1037 eorgia Power illette S Raz lidden Co 5',8 IGrand F & W Srand Trunk 6' t Wes Pw Cal 38 ulf Ol Pa 58 137 ulf Ol Pa Br ‘47 ult 8t ULl by A 36 ood Rubber 8’33 ‘36 00d Rubber 75 ous ba udson B M&S | Pow & Lt | Pow & Lt liinols P&L SMiin P & L 3} 4 1 Inaepenat 'Ot 6% 7 Inanap P&L s A 86 Insull UL 68 11niercon Pw ev 5 Inter Pw Sec 13 1 Intern E 64 Inters S Inter 3interst PS 4'2x 8 Inves Co Bs A 2 Jowa-Neb L&P 58 3 low-Nb L&P 88 B 11 Jor Cen P&L B8 B 47104 1 Kans GLE 65 A 2032 178’ 25 PO 1 Kanse (i ) 000000 46 1055 103 1011 v 2B oue s = SETEEEEO00 13 Lenigh P 3 Libby McN&L 58 § Long Isiana Lt 6 27 La P&L 8¢ 2 McCora Rad 68 43 2 Manitobs Pw 5725 51 10 Mid Wst UL 5s 33 ¢ 1Mid Wst Ut 55 ‘33 cv 5 Mid Wet Ut 3% 2 Mid Wst Ut 55 P& a8 67 1 Ning_Falls Pow 65 1 No Con Ut 8ias A 6 Nor Ind P 8 5s C & Nor Ina P8 4's E i 5 No Onio P&L 3'ac TaL Chto Pow 4725 D ° Onio Pb Ser 55 D Okls_Gas & El 55 10 Pacifle G&E 4'as ° 1PAc G & E4'as F 5Pac G & El B 6s 4 Pacific G & E 55 C 18 Pacific Pw & L 58 § Pac Wes Ol 6'a8 38 Pa_Cen P&L 4las °7 35 Penn Elec 48 T 2 Penn O B4 5'23 B 2 Pa Ohio P&L_'a 5 pen Tel 38 C 19 Peop G L & © 1 Peoples L & P 55 4 Phiia Elec 8'as T2 8 Pieamt Ei 6'35 A 6 Pot Eais 4'>s ¥ ‘81 6 Potomac Ed 83 F 3Pow Co N'Y 3ias 8 No 1il 4'z8 P ' S No Tl 55 D 3238332228 sgSueifesea o i 970! Ed FERE 55 eSS R oy @ 89 3 2 AR i Calif Gas 4'2 Southern N G._6s ' Sthw Dal Pr 6'as and Gas 14 Stand G&E cv 68 13 8tand Gas & E 6s ' 16 Btand Gas & E 88 3 8tand Inv 5s ‘37 zw tandard P & L 65 57 Sgun Oil §'as '39 38 Super of Lilfn 4%2s 3 Super of Tilin 4! v ks 10 v 38 ‘40 s Toi Sab Ber 43 Texas Elec 85 1 Texas Gas TTn Ul 1Ulen & & o 5 ooy E Pb Ser EMBER 11, 1931. PINANCI! AT F¥F A—15 S Everybody’s Business New British Tax Is Almost 100 Times American Rate—Little Expectation for Increase in Freight Rates Seen. BY DR. MAX WINKLER. Special Dispatch to The Star. NEW YORK, September 11.—Great Britain is the only nation In the world which wi while continuing to pay out some lief, according to Chancellor of the Ex-| increase its budg taxation and economies et b ,000, for unemployment re- chequer Philip H. Snowden in his budget speech before Parliament yesterday. To what extent all classes are called upon to bear sacrifices is perhaps besi the Federal Farm Loan Bureau indicate evidenced from the fact that the new Brit ish tax is almost 100 times the American rate for single men of small income and about 90 times that for married men with by the rather at yesterday's meeting sed the | be made, but it is possible that the the conviction that in connection with a wa, based u approaci It is beginn'ne tn be felt in circles generally well informed that the rail- roads have little to expect from the In- terstate Commerce Commission by | of an increase in the freight rate f would, on & superficial analysis, prove isappointing, it should tend to enable the carriers to tackle the wage problem | more successfully, and effect necessary adjustments. The Iatter will. in the long run. prove | of greater benefit than an increase in | freight rates which, even if granted to the full extent, is not likely to help the carriers very much, unless accompanied by an increase in traffic. Under pre- will merely stiffen existing competition d aggregate an already difficult sit- uation. Silas Strawn's Advice. More faith and fewer nostrums, is the sound advice given by Silas Strawn. | president of the United States Chamber of Ccmmerce. There is no reason, con- | tinues Mr. Strawn, why the present difficulties cannot be overcome, as was | the case on earlier occasions, when the | erises were much more _troublesome than today. and which in each case were followed by a period of greater rosperity and a higher standard of fiving than ever before Mr. Strawn uttered a solemn warn- ' ing against even a drift to Bo'shevism: suggested the necessity of wage ad- | justment, and intimated that the adop- l Grain Market | By the Associated Press | CHICAGO, September 11.—Fresh strangth developed in wheat late to- | day on announcem>nt that negotiations | had been completed for Germay to | purchase 7.200.000 bushels of Farm | Board wheat. Diminished pressure of | Russian and Danubian offerings of | wheat was reported and indications pointed to very little Argentine or Aus- tralian grain now afloat for Europe. Threshing returns showed the smallest yield per acre of domestic Spring wheat this season ever known. |~ Wheat closed firm. higher; corn. %-1's up: 5 advanced. and provisions showing 2 cents to 20 cents gain. WHEAT High | September v A | December 31 March 537a | M | . CORN September December | Maren { May OATS— | Sepiember December Low. Close o ! septemver | December | March | May | New York Cotton Special Dispatch to The Star NEW YORK. September 11.—A slight decline during early trading to- dav carried cotton prices back within | 12 points of low levels of the week. | where the market again met resistance | and recovered 15 points or more in later trading. Trade demand offset selling from the South and the list closed 1 to 3 points higher than on Thursday. Spots were advanced 5 points to 6.75. Cotton range: October December Janusry . March May July EGYPT RAISES AUTO PARTS DUTY 15 PER CENT High 619 701 29 746 758 [Tea and Coffee Boosted Cent a Pound in Customs Revision. By the Associated Press. CAIRO, Egypt. September 11 (#).— The customs duty on spare, parts for motor cars is increased from 15 per cent to 25 per cent ad valorem, by a decree issued toda The duty on tea and coffee is raised which they have applied. While this | valling conditions an increase in rates two dependents. “In this way,” sald Mr. Snowden, “an | example will be '"“fl“f:bl'cs" h not unlikely that the huge over- subscription of the i"f . recently granted British credit was in re- sponse to the appreciation by the finan- clal world of the inherent soundness of the Snowden budget. ven to the world of the pirit.” ench portion of the Rate Raise Hopes Dim. Even_though July figures, as reported Rock Island system, have been favorable in comparison with the showing made by other carriers, the board | dividend on the common. There have been those who felt that some disbursement would treatment accorded to stockholders and railway officials through reduction of dividends and salaries is railway workers will be easier tq e reduction, which would seem to be unavoidable, and that they might prove more amenable to it. tion of the dcle or unemployment in- surance meant a greater calamity than any that has befalien the country. Eng- land and Germany bear ample testi- mony, in the opinion of Mr. Strawn, to the effect which the dole has upon na- tions. The United States cannot expect o escape the ecnsequences. The American worker has come to regard Myron C. Taylor as one of its stanchest supporters and friends, and whatever adjustments he mav find necessary to effect in regard to the wages of the steel workers are nct likely to encounter serious opposition from the labor groups. After all, it must be borne in mind that the United States Steel Corpora- ! tion still pays on the basis of sched- ules obtaining in 1929. the vear of pro- nounced prosperity and large profits With the demand et present limited and operations at a low ebb, mainte- nance of the earlier wage scale appears rather unsound, if viewed from the purely economic point of view. Frigidaire Earnings Gain. Pressure on General Motors appears to have been prompted | feeling that earnings for the quarter will compare rather unfavor- ably with those reported in the second quarter of this year. While automobile sales have regis- tered a material shrinkage lasi month, stock | earnings from the Frigidaire division | have shown appreciable improvement and even though it is possible that in the first nine months the dividend re- quirement on the common might not be covered in full. maintenance of the current rate is confidently expected Pronounced weakness in the Germen reparations issues, including the Dawes loan and the so-called Young bonds, is not the result of any new adverse de- velopment in the German situation On the contrary. the signinz of an agreement to extend the oufsianding short-term credits is_regarded as dis- tinctly encouraging. It is not unlikely that, due to market difficulties in for- eign financial centers which have been regular purchasers of reparations loans, the demand may have ceased tempo- rarily. and with bonds being pressed for sales by American holders, new low records were established. (Copsright. 1931. by the North American Newspaper Alliance, Inc.) | | | | | [ FARM POPULATION - SHOWING INCREASE /Bank Reports Show City | Dwellers Are Seeking | | | Homes in Country. BY CHAS. P. SHAEFFER, | Astociated Press Business Writer. Reports of Federal Land Banks to | a definite movement of city dwellers to- | ward farm residences, although definite figures are lacking. | The bureau. explained the trend is quite the reverse of the 1925 exodus of rural population, to the urban centers, | which completely ~overshadowed the movement from the cities. An official of the bureau said the | tendency now was natural, and the lure of high city wages several years ago, which was mainly responsible for tre decrease in agricultural population, has about been spent. Another factor coming to the atten- tion of the bureau was the steady in- crease in farm sales shown by the Fed- eral Land Banks. The bureau said sals thus far this year were more than double the total for the corresponding period of last year, which was higher than the previous year. Readjustment by the farmer of his operations to meet changed economic conditions of the country was seen by the bureau in the ease with which he was enabled to meet the cash require- ments of the various banks in effecting farm sales. In this connection, it was said an initial cash payment of at least 20 per cent was required to make the sale more binding. Apparently, little difficulty was being encountered in rais- ing this sum. the bureau reported Data on file at the bureau indicated that agriculture. as a whole, was in no worse position than industry generally Reports from 21 States, representing a cross section of the Nation, showed 59.2 per cent of the 945.138 farms in theee States being operated by owners were free of mortgage. The result was co: sidered more significant in that fui 80 per cent of all farms in the United States are being operated by owners DECREASE IN' CREDIT DELINQUENCIES NOTED By the Associated Press Unprecedented decreases in the num- ber and amounts of credit delinquenci reported for the first seven months of this year by its member firms were dis closed by a recent survey conducted by the National Electric Credit Association. The number of delinquencies reported from all sections of the country by the association’s 750 members—comprising mostly electrical, radio and automotive manufacturers and wholesalers—dropped 216 per cent by ccmparison with the corresponding_ period of 1930. The Middle and Southern Atlantic States achieved the largest decline, which was 26.4 per cent. Total dollar value of all delinquent accounts dropped 44.1 per cent, with the New England -States taking the lead by a reduction of 54.7 per cent ‘n their total. Average value of all 1931 delinquent accounts reported showed a decline of 25 per cent in comparison with a year ago. NEW SECURITIES. NEW YORK, September 11 New securities offered today inciude Canadian National Railway Co. $25.- 000.000 additional 20-year 4! per cent bonde. priced at 98 and interest, to yield 464 per cent, by a syndicate headed by Bancamerica-Blair Corporation City of Buffalo, N. Y., $2.210.000 3.40 per cent bonds. maturing from October 15. 1932, to 1961. inclusive, priced to vield from 175 to 3.40 per cent, by a syndicate headed by B. J. Van Ingen & Co. 72 AVENUE ot FIFTEENTH | ¥ The | STYLEPARK l 000; replacement and parts, $1,430,000,- | 000; tires, $884,000,000, and accessories, | $624,000,000. Special Dispatch to The Star. BALTIMORE, September 11.—Nearly | 50 investment banking firms and bro- | Public Serv 6s Pub Serv §s B ' Penn Pow 45 A es Tex Ut 38 A iscon P&L 35 F 2 calculation by the American Motorist Association. The total was divided as follows: approximately 1 cent a pound from 200 piastres to 250 piastres (about $10 to | 61 99 o3 $12.50) on 100 kilograms (220 pounds) | f5g<<<<<aadda d Mont A est P L & Tel A < Bankshrs H 110,000 shares. NDS . 13% ki Stock sales today BO! 47000 Insull Uil 6x 4000 United Am Uil 85 ‘40 “Bond sales today. $51.000. { SHORT-TERM SECURITIES. (Reported by J. & W. Seiigman & Co) Allis-Chalmers American Chain ‘American Tel Amer. Wat Belding H Bethlehem e) Cleve : Lor. Cotorado & So. Rwy Commercial Credit Co, 5 Befaware & Hdson Co. Denver & Rio Grande 4' Gen. Mot Accep. Corp. & General Peirolenm Corp, General Public Service 81,3 1931 Grand Trunk of Canada € 1336 Houst. £ & W. T.ba 1033 stpd. Hambie Oil 57as 1952 Taclede Gas Lisht Co. $5 614 | Loulsviile & Nashville 53 1031 103 i Few York Cent. & H, 4+ 1934 iaie New York, Chi, & Bt. L. 6s 1032 7% 18 | Nortnwestern Tel. 4%4s 1934... il Pa. K. R Co. 6138 1036 .. i Portland General Elec. b5 193> 108 ublic Iron & Steel 85 190 96 BeRiRir cride On_Co. 815 1008 Souinern_ Pacific 5 1934 0L TM S Ry, R &G 45 1933 Dhion hiec Ly & Fov Union Oil Co. of Cal Vitginia Rwy & Pow Wabash Rws. Co. £ 19 ‘Glasgow. Scotland. has a campaign fob better venttlation in street cars, o5 1936 H 1987 108 100 * | Ratlways ‘ officials of the company, kerage houses were represented at a | meeting in the offices of the United <z Electric Co.. where they | pledged their aid to the United in gain- | ing acceptances of the plan whereby there will be a_ two-year extension of | . the maturing dite of the Maryland 1 Electric 5s, due October 1. Luclus S. Storrs, executive chairman of the board, explained the situation to | the_bankers. The meeting, called to make an ef- ifort to secure the help of the brokers | in gaining s many acceptances of the plan as possible from the bondholders. | was a complete success, according to | s the brokers | pledged their unanimous aid in “sell- | ing” tie idea to the owners of the securities. The bonds will mature October 1, obligating the comv.ny, unisss the ac- ceptances sve fortincoming, to pay out | about $3,600.000 at that time. PARIS BOURSE PRICES. | PARIS, September 11 (A).—Three per cent rentes, 89 francs 50 centimes. ive per cent loan, 104 francs 25 centimes.. i Exchange on London, 123 francs 9515 ' centimes. The dollar was quoted at 25 | francs 50% centimes. ' Gas and Service Cos By tie Associated Press. A recent study by 1.000 filling and ; sarvice stations indicated sn average of | $300 spent annually by egch of the | 26,000,000 motor vehicle ow in the | United States. STOCK AND BOND AVERAGES By the Associated Press. FRIDAY, SEPTEMBER 11. STOCKS. 50 Industrials. . 978 20 Rai Utilities. 150.1 149.8 157.1 162.8 228.7 333.8 162.3 203.9 1411 281.3 146.5 353.1 156.3 Previous day. ‘Week ago Month age.. Year ago, Two years ago. Three years ago. High, 1931 Low, 1931 High, 1930 Low, 1930 High, 1929 Low, 1929 20 Utilities, 98.7 .1 99.4 101.2 101.1 Todas........ Previons day Week ago... Month ago. (Copyright, 1931, Standard Statistics Co.) * e e 1 Bogot M 49 Buen Alr Pr 7'as 12 Cauca_Valley 7s Cent BK Ger 6s A ‘33 er Con Mun 7s '47. 3 Gesfueral 6s 53 xw 34 Ital Bup Pow 65 A S Medeilin Col s 81.. 3 Melbourne 358 46, 3 Mendozs Pr 1135 2 Parans Brasil 7e 65 Pow C Can 4135 30 B 1Rio de Jan 6128 59 19 Ruhr G Co 61a% A ‘83 5 3 Rubr Hon 2 Russian 8" 18 Stinnes s 28 Stinnes 7 3 Terni Boc 6 3 United Bi e 4 Unit B Ser 7 ww—With warr Xw_Without POTATO MARKET. CHICAGO, September 11 (#) (United States Depariment of Agriculture).— Potatoes — 72; on track, 250; total | United States shioments, 592. wealk; trading slow; sacied par hundredweight, ‘Wisconsin Cobblers, 85a90; few 95a1.00.a, Minnesota, 89290, ldaho Triumphs, 1.2521.40. s. Excise duties are fixed as follows: Beer, approximately $2.04 per 26.42 gal- lons: benzine. $4.36 per 100 kilograms. and lubricating oil, 98 cents per 100 kilograms. MONEY MARKET. NEW YORK, September 11 (#).— Call money renewed at 1), per cent . Money was available in the outside market at 1 per cent. Bankers' acceptances were fairly ac- tive, with bills still coming out in good supply and demand somewhat im- proved. Asking rates wes® unchanged. Time money was dull and unchanged, and commercial paper was quiet and unchanged. BALTIMORE STOCKS. | Special Dispatch to The Star. BALTIMORE, September 11.— sale STOCKS 297 Arundel Corporation 2480 Baitimore Trust Co. 1C & P Telephone Ba 40 Commercial Credit pfd. 6 Consolidated Gas com.. 10 Eastern Rolling Mills com. delity & Guar Fire Corp. 36 Fi & Deposit Co 30 Fidell 20 Fifet Tational Bank 370 Maryland Casuslty 20 Mt_Vernon-Woodbury lsl'lll otd 718 Union Trust Co.. e 50 United Railway & Eiectric . 737U S Fidelity & Guaranty... BONDS. 12000 United Rwy & Elec 1st 1000 U & Eec 6 1! 736 New Amsterdam Cas 5 Western Maryland Dairy pfd nited Rwg o P4 Eloc income .. 1800 Bnitea Ry & Blee 1de 5. today and held steady in the offical | | | | | hat you’ll like. i We_make it value HAT | TYLISHLY retains the center of the fashion stage for Fall. The a “spotlight” here at 5 New York Avenue at Fifteenth Branch Store: 3113 14th N.W. ) NATIONATLY KNOWN §8