Evening Star Newspaper, September 17, 1931, Page 15

INANCIAL > e/ QUTLOOKINSTEEL - . re.| DECLAREDBETTER Part THE EVENING STAR, WASHINGTON, D. THURSDAY, SEPTEMBER 17, 1931 WALL STREET MOOD C FS TO GLOOM AS STOC Rapx& Depreciation in Mar sulted in Bearish Attitud of Many Trader BY CHARLES'F. SPEARE, Special Dispatch to The Star. it NEW YORK, September 17.—If one were able to coin apword that would be the reverse of “ballyhoo,” he would hit off the present expression of Wall Street, which, in the last tm , has gone r:pmly from the hi stage to one bs. ‘The financial district of the country today reflects a rather pathetic state of mind on the part of a constituency that was so full of vim and vigor and proclaimed an endless period of pros- perity two years ago this month. Lack of courage and initiative has replaced the cockiness and aggressiveness of the inflation period. Against the positive- | SEHIPT aess as to values that were to be reached FINANCIAL, NEW YORK CURB MARKET Stocks sold in ~Prev, 1931~ h. Low. O 8 BONDS ON THE CURB Recsived by Privata Wire . Direct to The Star Office § Sales— it Rate. _ Add 00. Open. Hish. Low. 105 Mayflower Asso ()., 1 25% 2% 2% e, 59% Mead Johnson (15) .« 604 §0% 5 ™ N H{AW SELLING - Leaders Beaten Down to wm New Low Marks in Steady o 224 + Liquidation. N ggine P Am City P&L (A Al it PAL Bb10% . BY JOHN A. CRONE. <4 - 9% AmComPA (b10%) 42 Bpectal Dispatch to The Star. Am Com Pr B(b10%) lo 5% Am Cyanamid B. W“Mm:flmflhm“' r’l'v I“l.fi ividend Rate. Add 00, Open. i Low. Olose. IO 24% 2 18% 8 101% % % NP :::m::g::aaaszas 5 88 101% % 4% Weekly Trade Review Men- tions Inquiry for Rails and Pipe. )., Allegheny Gas Corp.. Allied Mills Tne. 111 7o ®F was: “What o 8 ols. but_more h. g lack | By the Associated Press. appears wh.t Wall Pk c:ve to melop if it| NEW YORK, Mo-Kan Pipe Lin Miss Riv Fuel bd rts. ‘Mont Lt H&P (13). 800s Mountain Prod (1). 1 Municipal Servic Nachman Spring. gut an 80 needed ooy 1 H BuorarSuaiuonSrmaBEtwe! 1 200 :::g e 825 & 5 = Ciog 2o £ g ZeEa3, 7 - 55 Nat Family S(ores. . Nat Fuel Gas (1).... Nat Investors Nat Pub Sv A Nat Pub Sv BL. (1) Nat Rubber Mach Nat Screen Sv (2).. Nat Service Co. NatSh T SecAt Nat Sugar NJ (2). o983 o B 1 25 =5 S 8398 »1"‘, ing block of 10,000 shares, the largest k. n through i %) ‘Tbe outlook in fabricated steel con- 'ough its previous Ay (MO«) ”6 ety o struction is good for the remainder of This incident un- 000 also opened at a new low, renecung Am Superp pf (6). Am Superp 1st (6) Am Util & Gn B vt Am Yvette (25¢) Nehi Corp (60c). Newberry (JJ) 1.10. New Eng Pow pf (). 50 New Jers Zine (13).. 1Cig St nocmu Service 5 '50. Cities Service 8s '66. & Berv Gas Stas, 43 for all sorts of common stocks, there is now & mood that accepts every inci- dent and evetry presentation of statistics "": t.le ‘giant, who compelled raflroad situation much is coming to a head, and prospec! dbppvim.menc over the earning state- mpome to inquiries, Electric Bond & Shate officials, many of whose stacks, both on the curb and the big board, have been subjected to ‘essional Ebsmre Jet it be known that no change contemplated 4n the common dividend, which is being earned three times. The company has no funded debt and no 12 months ended August 31 wvered gr;l’erred dividends, on all issues, 4% es. 2 as proof securities, already depre- ciated by scores of billions of dollars, are much too high. The meanest tout in ‘Wall Street who places a bearish ri retation on a plmcuhr situation ave a larger audience\ than the wluuc student of economics. Steady Sag in Prices. ‘The most confused and discouraged seem to be those possessing the great- est means and having the largest re- |Tedonc hat sponsibilities. ~They have taken the|COftor s speculative cut in their fortunes and_in their in- | D! be energies of men w o might comes extremely hard. It is among xpected in the present them that one hears most talk about h.\, dfl,lmd qualities of Communistic tendencles in the Western | ¢fp " “rhe “new era” also cre- World and & breakdown in the capital- | 1fi lousies that have been istic system. Day after day the securi- | § evanorating. but which have ties that the investing public has been | forPOTlA™E 1 Foing ap- led to believe were most entitled to|fo:“tnat it was the job of every confidence have been allowed to slip |f. eet man to work for the com- som down without support, until the record rpose of improving credit con- hopes still are entertained for a mod. erate seasonal improvement over the expectal :gfit“h large xtlut;-;:er! ulllng at prlfi:fi e not _been nce 134 | present generation of Stock Exchangeortunately, Will Stiect bas % |next 30 days. these tions have 2| Grens dimeuity 15 That 5o avge s warglely communicating its mood o Commitmente,0 < ST I coneumer 3 | SF the “ballyhoo” of 1628 ana 1920 ‘wagiest, of the country and to the | CLELIMERS troit perpetrated by juniors in Wall Streoi 8t large. Consequently, it 1as | perieving ‘demand for automorivg. sty house and in Wall Street banks witfgreatest responsibility of any sec- | a5 heen checked by the possibility of little training and less perspective ¢in the United States in leading the developments commensurate Wit di- ¢ | historical events in business and fYican p‘“’“" away from the calam- | pyinished Tabor costs. finance. Having made money easif ‘lvlmalk ":d':m‘:d Un-| “steel pmducen. this review sald, “are s this respo; Y omot€ | loath to lower wages unless assured it Ly e vl | will “roye confidence and stimulate buying.” they have not been able to stand 41 be years before it can regain the 3 Washington Prodace mnnl effect of losing it so quickly. stige which it enjoyed prior to 1929. Buu.er—one-pound prints, 33; tub, message went over a private Lodly from an interior house to its CCopyright 19815 zm—mnm,, 34; current receipts, Poultry, alive York correspondent. It read: “S/ pounds and over, 25a26; Baltimore Markets| New York Cotton mnd& 24a25; 1’ Special Dispatch to The Star. pecial Dispatch to The Star. um hens, a revivl) of private bnudln. in 1932 are stated to be more definitely promising. “‘Automobile eompnn.lea und parts makers are sounding out the steel mar- ket on their future needs, particularly in steel hu Bevernl inquiries are for the last rter, while others call for delivery t! uzh the first and second of next year. Inquiries re- celved by stamping plants for prices on parts for new cars indicate that changes in mechanical features and body design are unusually numerous.” Steel estimated operations at 32 per cent, a rally of 4 points in its average, but said “this slight Improvrment is not rega as especially significant in view of the generally sluggish character of del:nnd for practically all steel ucts.” ”;Se t‘e'::bu is ?ow more than half e, with no acceleration in either pro- duction or new busfness. 2 New Mex & Ar Land Newmont Mining. . NY &Hond Ros (1). 5 NYP&LtpE (7)...1008 NYTelpf (6%).... 258 ¢ Niag-Hud Pow (40c) 110 Niag-Hud Pow A w.. Niag-Hud Pow Bw.. Niag-Hud Pow C w Niag Sh Md (40¢c) Nipissing...... Nitrate Corp Ghile Noma Elec (40¢). Nor Am Aviat A war, 4 Nor Am Util Sec..... Nor & So Am Corp A. North European Ofl. Nor Ind Pub S pf (6) 25 Nor St Pow pf (6)... 30- Ohito Copper..... 3 l; glolrllrx‘il : :0'1; gl :g: Ohio Pub Sv'pf A (1) o: atinea a5 Outboard Mot A..... 1 3% 3% G Ee ot 0ids 5 4} PacG&E1stpf1%. .2 L% 1, Pandem Oil. . 2 Pantepec Oil. 2 Paramount Cab Mig. 24 Parker Rust Pr (3)..1508 Pender D Gr B 5 ‘Peninsula Tel pf (7). 108 Pennroad Corp (40c) 43 ° Penna Gas & Elec A. 1 Penn Pw & Lt pf (7) 1508 Penn Wat & Pow (3) 7 Peoples L&Pwr (A). 2 Pepperell Mfg (6)... 108 Perryman Electric. . Phila Co new(11.40), Philip Morris Inc. ... Phoenix Secur Corp. 4 Phoenix S C pf (3)... t of 1931, could at least foolish 1 st e gfionng 8 8888833z SERSATEE 05 9% 114% 114% 117‘/: 117% 3 e i SBZIRIC AL 22888 RRLLIV B2 I322 S < ‘Armstrong Cork (1). Art Metal Wks (60c) Assoc Elec Ind (30¢) EEE R A ..'ni & B8 ‘ general default of int Jealousies. too much to fi that the & reg R B8-S sn0aun o o, st Ut Inv 55 iis EI aou on 6« 93 3 n:’ A 2030 AXANAADINNS Ratio of current assets to current llabilitles as of the close of last week ‘Wwas even better than the 13-to-1 figure @8 _of June 30. Electric Bond & Share mga e- e Atlas Utilitie Baumann (L)pf(7).. Bellanca Afreraft. .. Beneficial I L (1%).. Blue Ridge Corp.... Blue R Cp cv pf (a3). Bohack (HC) (4). Bourjois Ine (25¢). .. Brazil Trac Lt&P(1) Bridgept Mch (25¢).. Brill Corp A (34¢)... Brit Am Oil C (80¢).. Br A TcouB 117 4-5 Buft N&E P 1st (5). Bunker Hill & Sull.. Burco Ine... Burco Inc s P 53! e Power, [ 5 Gulf Oil gl fore! OD!l’lt- . 38t &'oen 85 A" u ietdiary. “struck & b i & sul & mnew bottom . Other utilities to break previous | 105 lows included Associated Gas & Elec-| 53 American' Suparpover, Centesl- Sisies wer, Electric Power & Power A and Utilities Dufllu dechnuon ‘usual common rterly on mrd Power & Light n umk to a uulc.: f the m In Mlc 110 of w Bond & Share, 18% % ST o8 A5 103% Reui Ut ds B '40.. 69 Intescon Pw cv 6s "4 1835 nt Po Sec l’;a 34,8 104% Cab & W pf rets 19¢. Canadian Marcont 4 Carib Syndicate..... ¢ Carnation Co 1 sg,). m la 2 Caro Pw & Lt pt (7) BN Pierce Governor. Cent Pub 8v Del. . Pilot Rad Tube A. .. Cont Pub Svo AbS%. 18 % 5% Pitney Bowes (b4%) Cent&Swn Ut (b7%) 2 11 11 Pitts Plate G1 (2) ... Cent Stat El (b10%). 57 Plymouth Ol (25¢) Cent St E cv pf nas. POIYRIAtMTE. ... Cent St El pf xw(6) . 4 Premier Gold (12¢) Cent West PS Aall Propper McCalium. Centrifug Pipe (60¢) Prudential Invest Chain Store Devel. ., Pub Sve of No 111 (8) Prh Chain Stores Stock. . 34 Pub Util Hold war... 34 Cities Service (g30¢c) Pub Util Hold xw... 4 Citles Biy pELS) - o« Pub Ut Hold cu pf(3), 6 I s 3 83% Puget Sd PELDE (5) 1 125 Quaker Oats (17).... 20s 1154 Quaker Oats pf (6).. 10s 2% Rallroad Shares(40c) 2 32 Rwy & Lt Secur (13) 1008 % Rainbow Lum PrA.. 23 | Reeves (D) (1%)... 7 % Reiter-Foster....\.. Reliance Int A. Reliance Manag Republic Gas Corp. . Reybarn Co......... Rhode Is P S pf (2) Rock Lt & P (30¢)... Root Ref cv prpf... Rossia Intl (10c). .. Ryerson (J T) (1.20) Safety Car Heat & L. & St Anthony Gold..... St Regis Paper (60). Salt Creek Pro(1.40). Schuite Un 5c-31 St... 2% Seaboard Utll (28¢). Sec Allied Corp (1).. Secu Corp Gen (40¢) . Seeman Bros (3).... Segal L & H (a50c) . Seiberling Rubber Selected Industries. . Sle Ind al ctfs(5%).. Slct Ind prior(5%).. Sentry Safety Cont. . Shattuck Den Min. .. Shawin W&Pwr (2). Shenandoat Corp. .. Shenandoah pf (a3). Silica Gel ctfs..... Singer Mfg Co (116).380s Sisto Finance Corp.. 1 Smith (A 0) (2) Solar Refining.. .. ... South Penn Oil (1).. 1 % SoCal EApfB (13%). 1 Southld Royalty 20c. 1 Spieg May Stern pf.. 12 Stand Oflof Ind( 1), 52 Stand Ojl of Ky 1.60. 17 Stand Oil Ohio (2% ). 50s Stand Ol of O pf (5). 20s Stand Pwr &Lt (2)... 3 Stand P& L (B) (2). 3 Stand Pub Sve (A).. 2 Stand Screw (6) Starrett Corp. . Starrett Corp pf (3). Stein(A)&Co (1.60).. - Bl s an S ares Eelnarmonofons BALTTM! s Potatoes, ?o:s'po‘u‘;& se’r‘.:.':fnzwl% NEW YORK, September 17.—Cotton | %% potatoes, bushel, 50-15> 2 iprices at the opening today were 3 to 6 points lower. Active offerings came 40a60; beets, per zm q 5 g." bushel, “.30. {into October and December, but other con, per do"“%ns. months were quieter, Trade buyers cumbers hamper, 20240 ;aml;’were inactive, . 20835 lettuce, PeCT]76a2 Opening prices were: October 6.48, off e - bew December, 6.69, off 6; January. 6.80, : March, €9, off 5 May, 7.7, of luences outside the cot- o BonmnS anmwn broilers, 3 o2 pounds, 31a38" large, o 1% 1% 17% 17% 85 85 125 125 120% 120% horns, small, 21a22; rcosters, 12a13. Bled—s pring broilers, 3 m‘, and over, 32823; 2 to 2% : 1% to 2 pound 26a28; 15 hens, large, m 23; goaeen. 13a14; Long Island ducks, 21a Meats—Beef, prime, 15a16; good, 'ims~ g 2 19% 85 125 120% 19% 85 125 120% REZERRRER 93 58 A '51102 Cmwith & Sou war. . Com Wat Ser g12%e¢. Consol Auto Merch. . VT medium, ' 13a13 cow, 9a10; veal, top,'u mediim, 1 %' d lamb, top, 1 m ho | 10ims, 8 %o 10 pounds. 20835 8 te 1S mfi. 21222; 12 to 14 pounds, 15a16; hams, 19; okedhllll.?l‘mlp Toagr, S2ods: .hu!k. ¥4: packages, 0) Consol Gas Utll (A). 1 Consol Theaters..... a’lu Contl G&E pr ptf (7). 5% Cord Corp. .. Corp Sec Ch (b6%). . Cosden Oil. eona Creole Petroleum. ... Crown Cork Intl (A) Cuneo Press pf (6%) Curtiss Wright war. Cusi Mex Mining. . Dayton Air & Eng... LI Y =] - me SN : SSS:S:SSSE%! lling at 6% :'.l immediately | Dacon, !ollowtn' the last Government crop 1¢ &t , October opened this morning pigeons, $a20; 5t 640, while ail ‘deliverics wene. s pair, 25a50. r Dew low territory—the lowest prices | Foug! Eggs—Recei] cases; za T recorded since December, 1904. For the receipts, 22a24 hennery whites, 28 frst time March broke the 7-cent figure nearpy firsts, restern ts, ind considerabie preuure 'was experi- Butter—Goo¢ and_ fancy cr enced on the opening call. % |30a35; ladle, 20322; Process, While he store packed, ! Hay and Grain Prices. ‘Wheat—No. 2 ed Winter, e quotations; No. 2 red Winter, gar] t? domestic, 5% Bewem'm a 51%; nfiNu 2 §now "domestic, 60a61; cob ccrn,3.00a3.25 per barr Oats—No, 2 vhite, domestic, | 32a33; No. 3, 3132. Rye—Nearby. 40a45. | Hay—Receljts, none. New haj starting to gTive in incressing qui ties, but so far no official grading been attempted, selling being strictl merit. D'mand for old hay slow market % full and quiet, with p' in buyes' favor at a range of 14 18.00 per ton. Strsw—Ne. 1 wheat, 9.0029.50 ton; ¥o. 1 oat, 9.00a10.00 per ton. | Live Stock Market. Cattle—Recelpts, 500 head; D‘ht' rIY. market steady. Steers—Choice to pdme none; to_choice, 6.00a6.5 edium to 573!!00 fair to medium 5.25: plain to fair, 4.75a5.25; comms plain, 4.00a4.75. Bulls—Choice to prime, none; gt choice, 4.50a4.75; medium_to 24.50; fair medium, 3.5024.00 3.25a3.50; common to Cows—Cholce to prime, non: Chickens— 19a22; old hehs, 14a18; roolker;, 2!15, ducu Li by guinea ve M eavy, Moag.n 1anibe, 4.0087 “25. "calves, ~ 7.00a9.00: Pruits—! -Watermel 15a35; nta- loupes, G)lonflo n-lgl.mizhl;l;s. l::chr- 2der!u,_“ -75a2.00; Persian melons, 2.00a 8 edging operations were | tar below normu for this season of nu year and much holding is reported, ticularly in Eastern secti Dpears, tremely weak stock market brought | 2. selling from commission house munen 5031, Derby Oil Refin pf. .. 258 Detroit Atreraft..... Doehler Die Casting. Domin St & Coal B.. Dow Chemical (2)... Dubilier Cond & Rad . Duke Pow (5).s. " £al wrworwmnatawmmmolsBnbhnni ot £ ; peaches, 00; e bushicl Cnackets; 1500.00; 'rox;%': 7% Thompson, seedless, 2. “ apples, 400a4 50: prunes, 1.00; figs, m’ =23, on & scale to supply an accumulation of buying orders on a buhul 612 cents October position. Consumers g9y eE for the ERyEes ot & 28 Whisperers Turn From Banks to Make Trouble for ‘Bonds, Particularly of EH in the South’ has ripened enggn Tapidly and the movemt to market is now | toes, increasing. Foreign — Lowering Dividends. BY DR. MAX WINKLER. Special Dispatchi o The Star. e =s_szz=::==3=z‘ Sazgss: Elec B & Sh pf (6)... Elec Pow Assoc (1) . 9% Elec Pow Assoc A (1) 12 14 Elec P & Lt op war.. 8% ElShareholdg(b6%) 40 €8 Elec Sharhldg pf(aé) 11 50% Emp G & F cu pf(7).100s 66% Emp G & F cupf(8). 508 % Empire Pub 8ve (A). 1 % Evans Wallow Lead. 10 +& Falcon Lead. 'h Fin Co Bait A (80e) Floride P & L pf (7). 14% Ford M Can A (1.20). 8% Ford Mot Ltd 36 3-bc 2 Foundation For Shs. 2 ¥Fox Theater (A).... 3% Gen Aviation, . - 8% GenE Ltd rcs 36 3-5¢. 14 Gen Empire (1)... 15% Gen Fireproof (2)... 3% Gen Theat Eq ev pf.. Glen Alden Coal (4). Goldman Sachs. .... Goth Knitback Mch.. Grief & Brpfx (7).. Gulf Oll of Pa (1%).. Hackmester Lind. ... Hamilton Gas ret Happiness Candy Hazeltine Corp (1) Hecla Mining (40¢).. Hires (CE) A (2)... Hollinger Gold(65¢) . Horn (A C) Co.. Hudson Bay M & 8 { Humble Ofl (12%).. Hydro Elec Sec 1.40., 2% Hygrade Food Prod., Imp Oil of Can (50¢). Imp'l T GtB&I(1.12), . 3308 5 Grain Market | By the Associated Press. CHICAGO, September 17.—Despite an active export demand for wheat from North America, grains today tended to sag, influenced anew by va- cillation of securities. Black Sea ship- ments of wheat were heavy, 7,920,000 bushels for the week, an increase cver O:"’ &ng the week previous and more than dou- o g 1 Ble those of a year ago. Corn was un- Fhis T . : i der pressure from speculative sellers, ;‘.; Bg gt 1 . Qet. 1 hl 1 DIVIDENDS DECLARED NEW YORK, September 17 (#)— l“cl i m‘! Paye Hidrs, of Oct. record. with country offerings heavier, and 85 per cent of the Iowa corn crop reported safe from frost. Whenn closed irregular at 34 cent de- line to % cent advance, corn l4al down, oats unchanged to ! higher, and provisions showing 2 cents to 12 cents setback. Sunray Ol (b5%) 4 SWift & Co (2).....s Swift Internat (3)... Swiss-Am E1 pf (6).. Syracuse W Mach B. Tampa Electric ($2). Taylor Milling (2%) any client who inquires about foreign bonds to sell them irrespective of price. It will not surprise us to learn that it is these very executives 'ho but a short while ago were urging also of price. n is cbvious that such advice had better not be given. Reduced earnings made it advisable to lower the dividend rate on Westing- house, according to a statement made by Andrew W. Robertson, president of the company. Further Reduction. In January of this year the rate was redueed from a $5 annual basis to 84, | the further reduction t> a $2.50 | ‘s is in line with the generally un- I3 1actory business conditions and the Jess favorable operating results of the company this year, and also in order to conserve cash resources. ‘The decline in earnings is evidenced from h:rerlun( statistics covering the first f of the current year, and which resulted in a loss of close to $2,000,000, as compared with a net profit of $3.13 @ share in the first half of last year. The stock, according to those familiar with the affairs of the company, has reached a point where accumulation is not likely to be regretted. Depending largely upon outside sources for crude oil, the recent mod- erate improvement in the line market has not been of es) to Atlantic Refining. Moreover, the price of crude oil has advanced relatively | more sharply than the rise in the gnm of gasoline. It is, therefore, fu! whether the management will care to mllnue the present dividend of $1 2 re. A satisfactory solution would b2 an amalgamation with a strong producer, Somplete wnit. and -uhich should prove ete unit and .which s| rove .- distinctly beneficial to the mahordm: 25 The physical volume of business done 36% 29 Sears-Roebuck so far this year is 112% 106 of last year, aithough dollar 107% 100% are appreciably below, according % % 1w 6% % P 5 Wi or s B4, sldort. Anlp 4 %o m 101 West. Penn 4s B FOREIGN norml- 2 Buen Air Proy 7s 52 a8 Atlas P Central ol Lo 3% good to choice, 6.0026.50; ‘med; good, 5.7526.00; fair to medium, 5.75; plain ta ‘fair, 4.7585.25; co to_plain, 4.25a4.75. Fresh cows and Springers, 60.00. Sheep and lambs—Receipts, 700 light supply, market lower; shee 23.00; lambs, 4.00a7.75. ‘Hogs—Receipts, 600 hea ply, market steady; lights, "s heavies, 580a6.50; medium, Toughs, 3.75a4.75; light pigs, pigs, 6.0026.30. ‘WHEAT— Septembe: o Thatcher Sec Corp. A“fi “Nichols” Br " 4A..75¢ 4 Toledo Ed cu pf (7) 3% 3 3 wic| 106% 106'% b% b 3w 3% 1% 1% 3% 31, 6% 6% 2T% 2T% Trans Lux D Tri-Utiliti Tubize Ch: Tung Sol leD(l Ungerielder Fin Cp. . Un Gas of Canada(1) Union Ofl Assoc (2).. % Union Tobacco. oA September December 834 st 00 0 ERZoXEER0000000000000000 000~ DO 17 4 ‘Cnns R.elll? SEls b D":" oo Stkyds, ;;:..i f o atats DECBERTRREEEE 22 oo CRCEEEEREE: BRERERNERERCE y | PARIS BOURSE PRICE lm ; PARIS, September 17 (&) per cent rentes, 88 franes 25 Five per cent loan, {04 francs e - times. Exchange on Londn, 123 fr: centimes. The dollat was quotet 25 francs 51 centimes, s S8 i Nippon EI P 6i2s 1Parana_Brazil ‘7s 58 5Pow G Can 4125 ‘59 B 1Rio de Jan 6Vzs 3 Ruhr G'Co 6%as 8 Saarbrueck 15 TREASURY CEBTIFICATES. (Reported by J. & W. Seligman & Co.} Rate—Maturit; Bid. 173 Dec. ¢ Gas ot (o % o 2 8a Cntle Dot Le& Bw A (1) 18ManF i B A 139108 Unit L & Pwr pf(6) 2 Stinnes 78’ 36" X U 8 Dairy (B).. 3 3 e masst alas 4l 30 U 8 illec Pow ww ww—With warrants. 4 U S Finishing. . Xy Without warrants. > New. % U S & Intl Secur. % Wl Wi—When tssued. | U S Inter Sec 1st pf. y i ) ! iz s Ve 17, 'é:}.’é:i:::f::“*”" (RADIO CITY FINANCING ARRANGED IN BOND SALE! Ty Umit Verde Exten (1) | By the Associated Press. Unll P&Lt(at1.02% ). 2% 115% 10% NEW YORK, September 17.—Todd, | Robertson, Todd Engineering Corpora- tion and Todd & Brown, Inc., who are handling the Radio City project, an- 2": nounced the senior financing of this, 1 development had been arranged through %' the sale to the Metropolitan Life In-| 1 %I;rldl:ce (i:; gf an issue of 565, 0?!.)]020 of Peop GL&C...Jan 5 5% 6% 5% nds, which are to be in ser] lorm Dividend rate. in doliars based on last quarterly or semi-an- :nd will be issusd as the improvement nual payment. *Ex dividend. tPartly extra. iPlus 4% In stock. | PrOETesses. & Payable in cash or stock. bPayable in stock. unuummntl The bonds are secured by a monn‘e i'.ll:'l“:o?';fl :::k— hP’l‘ll i: in g the holdings of the Metrnpomlr; uare Corporation and the Undere! PR 0 oo et ra | Holding " Corporation fn . the three blocks between Fifth and Sixth avenues, from Forty-eighth to Fifty-first streets. They will be amortized over a period of years and will all mature by 1950. Bank of England Dividend. 100" lm‘l" 100 M0 0 . 18, . 15, 1932 Dec. 15, 1831 Sept. 15, 1932 BOND AVERAGES Associaged Press. 5:30 Edition. .a-.-..zfi....q...u.m-.... L 585 85 Irving Air Chute ) Italian Superp wi Italian Superpow A. Kings Co Lt pf B(7). w- um 116% Knott Corp (1) Kolster-Br (Am Sh), 82 l!fi Lackawanna Sec (4) 2 30 Lakey Foundry..... 1 Letcourt Real pf (3) 2 20 Lerner Stores (2) . Lerner Stores pf § ’/, m Libby McNell & L... 2 Lone Star Gasn88c. 8 and Lt (60c) 70 Lons Tald L pf (1) 4808 109% 13 x,onx Iscupf B(6).. 768 104% 104% 10415 Loutsiana Lan & Ex. 17 8 3 15 MacMarr Stores (1). 7 9% 105 MagdalenaSynd.... 11 % & n Marcont 1M(73 2-5¢) . 6% 6% 6% Mavis Bottling (A). % 1% 1% 85880 pommeeeay: 2% 2% | 1185 o] 10% | ty Util & Ind pf (l‘&) . Vick Financial (30c) Walker (H) (50c)... Wenden Copper..... ‘West Tab & 8t (2). Wil-low Cafeterias. . Woolworth (FW)Ltd 9 “Y" Ol & Gas. ...... RIGHTS—EXPIRE. 1, 5% Aah B8 g s‘DDflmflDMDDbD 2 8 0% 108% s 19 oo * New 1931 low. 6"1 v 1% Bl i Rl LS e e B B stock e stock. n Plus 8% in stock. o Today Previo Week ago payment considerable of the [to, the thou sy Lol B e the purchase §88 8% 2282 today. Sir Ernest Musgrave Harvey, the dep- uty governor, at the semi-an- ‘meeting said, “In of the qullfl. through whlch » 1929 L. passing, we hope thet when we * New 1931 low. 7ok i (Copyright, 193tandard Statistics Co.) 3 suad 00OO DOOOO ©° 0 BOO WIDD O HEOODOOD ga38 ganee