Evening Star Newspaper, September 18, 1931, Page 15

FINANCIAL Stocks sold In 100-share lots except those designated by letter "5." ™ Dividend Rate. Add 00, Open. High. -STOCKS CONTINUES = High, Low. 12 64 Aero Underwriters. . 11% Affiliated Prod 1.60. . 4% Agfa Ansco. . 7 100 2 2 Foreign Sources Are Believed to Be Cause for Heavy iquidati 95 Alu Coof Am pf (6). Liquidation. 11% Alum Goods (1.20) 86 Aluminum Co Ltd. Alum Ltd B war. Alum Ltd cum pf Am Capital prpt § Am City P&L (A) a: Am Cit P&L B b10% . 9% Am Com P A (b10%) Am Com Pr B(b10%) Am Corpn (£30¢)... Am Corp war. . Am Cyanamid B. Am Dept Stores Am Dep Strs 1st pf Am Equities. Am For Pow war. Am Founders. . 4 Am Gas & Elec (11). Am Invest Inc (B).. Am Lt & Trae (3%). Am Maracaibo. Am Metef (3) Am Natural Ga ‘Am St Pu Sv (a1.60). Am Superpwr (pd0c) l‘2 Am Superp 1st (6)... Am Transformer Am Util & Gn B vic Am Yvette (35¢). Anglo Chil Nitrate. Appalachian Gas. Arkansas Nat Gas. Arkans Nat Gas A. Ark N G cu pf (‘OcL Armstrong Cork (1). 50: Art Metal Wks (60c) Agsoc Elec Ind (30c) Asz0 GEEI (A) (al). As20 G & El A dbrts. Asso G&E all ct 1.60. Asso Tel Ut (b8%) Atl Secur Corp. Atlas Util Corp AutoVM ev pr pt 50c Axton Fish To A 3.20 Bellanca Afreraft... Beneficial I L (133) Blue Ridge Corp.... Blue R Cp cv pf (a3) Bohack (HC) (4)... Brasil Trac Lt&P(1) Bridgept Mch (25¢) . BrATeouB1.17 4-§ Buff N&E P 1st (5). Buft N&EP pf (1.60). Bunker Hill & Sull,. nn Burco Ine. . Bureo Ine war. Burco, Ine, eony pt. Butler Bros. ... %, Cable Radio T vte... Canadjan Mareoni Carib Syndicate Cent Hud G&E (80¢c) Cent Pub Sye A b5%. Cent&Swn Ut (b7%) 2 Cent Stat El (b10%) _ 46 Cent St E cv pf n 6. 500s Cent West PS Aall 1 Centrifug Pipe (80c) 4 Chain Stores Stock., 1 Childs Co pf (7) Cities Service (g30¢c) 210 Cities Serv pf (6 Cit Sv pt B (60c). Cit SVvP &L pf (6).. w- Claude Neon LtsInc. 1 Clev El'lllum (1.60). 1 Cleveland Tractor. 1 Col Ofl& Gas vtc. Cmwlth Edison (8 Cmwlth & Sou w: Com Wat Ser g1. Consol Auto Merc! Con Gas Balto (3.60) Consol Gas Util (A). Cooper Bessemer.... Cord Corp..... . Corp Sec.Ch (b6%) . Cosdeén Ofl. ... Creole Petroleum Croeker Wheeler. ... &m?%’%). % Dayton Alr & Eng. De Forest Radio Deisel W Gilb (1% Derby Ofl Refining . Detroit Alrera BY JOHN A. CRONE. Bpecial Dispateh to The Star. NEW YORK, September 18.—A sup- Ply of stocks, coming largely from for- elgn sources, caused the Curb Exchange today to reverse the upward price trend in progress at the finish of the previous seasion. . ‘The market leader, Electric Bond & Share, repeatedly threatened to break through its previous low in t:2 fore- noon, but each time it turned within fraction sbove its minimum mark of %. Citles Service similarly was lield above its bottom level. Forelgn news emphasized the oenn break in Paris pricés, & proposal close all Holland exchanges, which Wl! rejected, the restrictive measures taken by Brussels, weakness in Berlin, and the heaviness in London as a result of the naval strike and demands for early elections. All of these developments checked buying of foreign securities, mostly British, listed on the curb, The Dews brought selling in overseas issues fi'nn both foreign and domestic sources, ough traders vicre inclined to blame i\lmn liquidation for the softness of ritish and continental securities to- da; Pybtfl Motor, Lt<., and Woolworth Ltd., common, the two leading British indus trials, first wery offered freely and 2 63 .,u,:..sfi = i NS IPRTISY SPIOTIL-P 19 - P 2 4 8 B 1 £ Everybody’s Business Band Buww Bt DBty Esbles Banks to Revalue Bond Holdings, but Publie 'f- feet Doubtfud. l!Dlmm Epecial Dispatch to The Star. NEW YORK, September 18.—The rul- by the controller of the currency make it possible for national banks 1o revalue their bond holdings on the Mot m&mnmm et quotal 10 bear fl’kmg&m intion o th Tela e merits ordmenuo( the issues involved, due primarily to the fact that every one, ity nearly emy one, is the. desire to sell, u. just as in the annumm WO yeals Bgo, every one, or pr:‘tg Dearly every one, was flu desire to buy. banks may be able to increase uuir n_uu value materially, it remains ‘whether the confidence of flu bllc will be restored to any ] G, G T -3 8% ElecB&Sheupfs.. 4 Elec B & Sh pf (8) Elec Pow Assoc (1) . Elec Pow Assoe A (1) Elec P & Lt op war. . El Shareholdg(b§ %) EmpG & F cu pf(8). Empire Pwr pt(2.24) Burop E Ltd A (80¢). Europ Elec deb rts. .. Evans Wallow Lead. Fairchild Aviation. Federated Cap eu pf. Ferro Enamel (A) Florida P& L pt ( Flintkote Co A. Y mou of the country’s banks mentally sound, but it is apparent that no institution, however sound it may he‘ can withstand a 100 per cent run. Toe Many Bank Failures. ‘While many business men heartily indorse Mr. Pole’s ruling, they feel that much more could be acne to restore confidence, if the Federal Reserve were 10 modify its rather rigorous rediscount policy and put a halt to the continuance o{ bank failures throughcut the coun- A: 1o u conMence remains shaken, to maintain the mulmum o( liquld!zy. In order - to achieve this, they will find it necessary 1o sell wnununus\y whatever can be glisposed of, and whatever has no ready market will be sold at a great sacrifice 2nd to the distinct detriment of the de- positor, the stockholders and the com- . Professionals, who have been -mmm— Au to depress tcbacco shares in general, American Tobacco in particular, ldnncad as the chief reason for their the fact that tobacco stocks have going up steadily for a number of years. They also remind us that Ameri- ean Tobacco, in point of price, compares less favorabiy” with quotations in 1920 than the majority of stocks listed on the New York Stock Exchange. Such is the rather naive reasoning of those who werk destructiveiy. They do not apparently consider that sales of the leading brands of American tobacco | have risen appreciably within recent ‘Weeks; that the sale of one brand of fobacco has advanced almost 140 per cent 4n a relatively short period of time, and that its British subsidiary has succeeded | in putting the sale of its eigarettes to fhird place in the English business. Bethichem Steel Outlook. With operations et not more than about 30 per cent of capacity, with gen- eral business conditions s:iil unsatisfac- fory, with cash holdings having suffered somewhat from court litigation and an | :'bltlo ~ expansion program, the out- Foundation For Sha. Fox Theater (A).... Garlock Pkg (1.20).. Gen Aviation. GenE Ltdycs Gen Empire (1) Gen Fireproof ( Gen G&E cv pt B( Gen Pub Sve pt Gen Theat Eq e p Gerrard (SA) Co. Glen Alden Coal (4). Globe Underwr (16¢) 1. i Golden State Co Ltd. n FenSnhic BeBumnrnn namennEBag B e - Ot i o T Graymur Corp Gt AP T nv (165 ) 2308 Gt At&Pac Tea pt(7)176s Groc 8trs Prod vte, . 3 GuirOllof Pa (1%). 58 Hamilton Gas v.t.c. Hazeltine Corp Hires (CE) A (2) Hollinger Gold (65 Hudson Bay M & S. 4 Humble Ofl (12%).. Imp Of] of Can (50¢) Imp'l T GtB&I(1.12). 4 Indian Ter 11lu Oll A. Ind Ter Hllu Ol B... Insull Inv (b6% ). .. Ins Co ofNo Am $2% i Insurance Sec (40¢). Intercontinent Pet n. Intercont Power (A) Int Cigar Mach (2%4) int Petroleurn (1) Int Sewerp (+1.10). Int Utilities A (3% Ty for the continuance of the divi- on the commapn snares of Bethle- Steel is not especially bright. ‘o be sure, no action need be taken Yor another four weeks, and it is not im- i rl‘?iblg that a turn for the better may Interstate Equit Irving Air Chute ftalian Superpow A. Italian Superp war. . Br (Am 8Sh). wanna See (4) Lake Shore Mines(2) Lefcourt Realty 1.60 Lerner Stores (2)... 1 busi- ing the first half of 1931 the | barely earned its preferred | lend requirements, and it is doubt- ful whether the third quarter will add | much to the profits reporied so far this year. ‘EBeonomic planning will contribute to GO 0 oS 0B B I 1 36% 18 3 18'& o, e ) 8 8 26s 101% 101% 101% ~Prev. 1981~ High. Low. 14% 25 361 L Low. Close. 8 8 18% 4% ll lfl% 4% 4% loev. Long % Louls! 4% MacNar 436 6% Marconi Mavis B Mead JO iga ta Mid WU Mid'ld S Mont Lt 4 Mountaf Municip Y & Hy Y Mer YP& Niag Sh Nipissini Nor Am Nor 8t Pe Novadel Pae Wes Pan Am Penn Wi Phi % Phosnix Pitney B Pittsbu: Pittsbus Plymout] Polymet Premier Reiter-F Reliable Rubbero! Safety Ci St Regils South Py S W Gas Spanis] Stand O Stand Of Starrett Stein(A) s Taggart Teck Huj Tobacco Divi 7% Libby MeNeil & L. Lone Star Gas n 88¢.. Long Island Lt (60c) Nat Servl Nat Sh T Sec A 160 Nat Sugar NJ (2). Nat Transit (1). Nat Union Radio Newberry (JI) 1. Newberry JJ pt(7) Y Transport (2)... iag-Hud Pow (40c) 186 Niag-Hud Pog Aw.. 1 Niag-Hud Pow B w Niles-Bemt-Pond (1) Nitrate Corp Chile B, Nor Cent: Nor & So North European Ofl. Nor Ind Pub S pf (6) llh Paramount Cab Mfg. Parke Davis (11.65). Parker Rust Pr (3)..650s Penniroad Corp (40c) Pitts Plate G1 (2)... Pratt & Lambert (3) Pub Ut Hold cu pf(3) Rwy & Lt Becur (13) 100! Reliance Int A Republic Gas Corp. 2, Rossia Intl (10c).. Ryan Consolidated Salt Creek Pro(1.40). Schiff Co (2)... Schulte 5¢-$1 8t p Seaboard Util (28¢c).. Sec Allied Corp (1).. Secu Corp Gen (40c). Shenandoah pf (a! Smith (A 0) (2)... Solar Refining. South Cor; South Col Sou Pipe Line (2). Southld Royalty 20¢. & Gen rets Spleg May Stern pf. 4 Stahl & M Stand Ofl of Switt & Co (2) Swift Internat Tampa Electric (3 ). Technicolor Inc. . Tenn E1 P 18t pf(7). 100; Todd Shipyard (4) Trans Afr Trans. Trans Lux D L. Tubize Chatel. B. Tung Sol Lamp(1). Un Gas of Canada(1) Unit Carr Fa Unit Corp wai Unit Founders. .. “‘-m uun.o-.‘. T “ I\\t 1% 17 29% Ltpffl) . lo- 109 a Lan & E: % r Stores (1). 14 Magdalena Synd IM(73 2- 50). ottling (A) . Mayflower Asso (2)« hnson (t5).. Memph N Gas (60c). Mer & Mfg 8A (1%) 4 Mesabi Iren. .. Mexico Ohio Ofl. n Gae & O Pet vic A 22¢ Mid West Ut (b8%) . 7t ov pf XW 6 Mid W Sts Ut b10% .. teel Prod(2) Mohawk Hud 2d (7). H&P (1%).. 25s n Prod (1).. al Service. Nat American Co Nat Aviation. . ice Co ond Ros (1). chandise (1) 1 Ltpf (7)... 50s 1 M 1% 3% by 1% 1% % Md (40¢). Aviat A war, 1 Texad. .. m Corp A 0 2 5 1 1 7 7 2 1 d ow A (8) % Ner 8t Pow pf (6). Agene (4) Ohlo Copper. Ohio Pow pt (6). 4 Outboard Mot A, PacG& K st pf1%4. tern Ofl. Alrways. 5 7 1 46 &Pow (3) 3 n Blectrie. . lorris Inc. . Seeur Corp. Pilot Rad Tube A.... Pines Win Front(1). owes (b4 %) Forgings &LE(110) 501 07 - h O1l (25¢) Mig.... Gold (12¢).. oster Stores - DN A RD O E® RSB B id (4). ‘ar Heat & L. Paper (80). u$ - - BhwwanamesSanman . 2808 nn Oil (1).. Utilitie: er, Inc. 1md( 1) 10f K¥ 1.6 1 Nebr (2). Ben s an e 8 A HATIRNONNNE B Corp &Co (1.60) Corp. . ghes (60¢).. 49 & All Stks o IR T-1=171 % U S & Int] Secur. U S Inter Sec 1s U S Play ing Card 2 Unit Verde Exten (1) %4 Utah Metal & Tun. Uil PhLt(at1.02% IDK ‘Wilson Jones. 9% Woolworth(F" !5 “Y" Oll & Gll z EW .mP.. e 21 |l 6% nvuln. n-lgx 6% 13 1% o oy g g ec-ordiniation of productien ‘and con- not;r:lo amunlulllr[ s prod o JauAl ini. mnn'be tiative and enterprise, and protection of 10 ONe | the public through Pederal supervision. y fic‘ A rather ambitious program. The however, is whether it h of be concrete character g put into effect. roposed to redeem an thit most of them merely afford suitz- Brasillan State Loan. bie material for debating sccieties and With a fseling of satisfaction, the professional lecturers. It i3 therefore | fiscal agents for the 7 per cent lcan of by Mr. | the Brazilian state of Rio Grande D> Sul, announce a certain amount of~bonds' have been drawn by lot and will be redeemed at par December 1. Ty Tend mooneye avatianis 1o thot ek meneys available in t| of the fionl agents. e s ‘While kers will number of bondholders 1 e:m':h: would seem to deserve most lldznt.on Mr, Swope's phn emabraces nc\lhmy ok wmmm'm Ay, iandard: I:? forms of rerorts to stockholders; 9 9 10% 10% 10% .. % NN n14 based fly oe b |r e b 10% in stock. F i, Iast year—no res: thuoxu.th‘-hnumumuonm New York Bfock Mxchange at 20%. Would 1t not help America’s future re- Furthermore, how does th -uu ml when it sees bonds nvpnl»d cents on the dolhr but is cal Jowest reported in any months since September, 1914. ‘That the Unl&:‘ullfi is relatively ouur ‘words, the purchasing r “the American nwple, whiie Mmates reduced, has not declined to th> extent to which the mehulm power of other countries has fal (Copyright, Iul. by h Anl)rlnl News- Axum. Inc. ot ‘3‘ of canned mhl w l‘” RIDAY. SEPTEMBER 1 STOCK AVERAGES SHOW EXTENT ] 00N g 313 i o 9 a £ i Qo Feem RS 22225332425 8I N e i 3. ER W SEE 322 rgdd 3 o £ Su5eiss & Y SE Y EurBowaiation 8L, 2 B T T 5:,} 52 8a2nrneals 9 1 Ep 3! 2ES 3 Elec' 814 BeL o s 154 El i oA ,_?QSS,???QYS? IR 232 Qf a9 s ;, I S8L8 DESnER: F Hygrade 36 11 Fow & 282 2 & Taa g g=ssssFaises Seagyess FE e et m:'.'fi !fl- . 2a"gg SelowdSS il § s 28335 2a8ae R Saaf o gs 35 - Bt S E-a;?g B aske Pw Nevada Calif 55 New Eng GAE 88 3 w, Qés EE Fow, 8 g N a2 I &3 0533 % o N MR 2 RE SR 3999 3 g55¢ TIEREE Laor”Tua 2Eat. ol ¥ HEE 52y¥00 2 2, ¥ S5 S RS SIS 3 I 3 =2:==n=::.i§§s S 28 3 § b/ oS Cie 0 e 9! HE 250 2238235 ' 2 >’ =3y a-agig == S5 3 'z & BIRE B s morwws w! 3 ® o FESEEITE T 4 of o ;gxr‘:_.gggsza S o ..... zEo8s Sua 442420 (apoovy SEeTRANES - Bl o SgSeesasteyss 2 3sseg e FEEgeSege ngygy : SszusEiiangarages gegsigennensozsl FERREETE $II2288IREBRTS @OBND i3 28 S 4 253353 s, oanaapy 3 S ee o Ee by - S EE 33 ...... 555 EREE . s S 0 B B S8 B B SR 0 ams ol - Gul S o s wmmoda! <gccacggaaadd waZZE s Beons S n o 4 %5 REROE de 01 08 X Ut 13 Westves: g% Bt 3ok i) % £3 & R RLEEE T & 22828 & FEEF R LR R £ 5 e Ess T R Va FSe v * FEFE TE :s::s::.x:lsmg £ FREE £ = F gaigae a SRR 2555 2223885 ce5aSs 2y FEFEFE s:::fia:s. & cocsses T =5 3RS SR OEE st 2SS R RN R g a8 2882888838y = S m::’z:gusgszz:a::u & 2235283528 823255, suessE 2 S2sge8tessassess S35 SEE Soage: & R 5 ¥F 495 # i 283538223 o7 2ReR%! WS e e TS A l * ¥ FEET 'h % % & F SESERERE & & = | : clals i 83 FINANCIAL OF RECENT DROP IN' EQUITIES intensity and unusual duration of the ped b time and turned its atten! them. to selling Maj. Movements. lnthenmwmll.hnlmu!hp-d since the climax of the eached, period of time. The unsettling of all was first, which took place in October, 1929, and culmi- nated on November 13, and during which a shrinkage of 175 points, or ap- proximately 50 per cent, occurred in av- erage prices of industrials from the Sep- tember level. Then followed within a week's time an average recovery of su po;l.x'.u lg industrials ll'l.fld 20 poll‘lllhnln rails and a su t advance he early part Dlh%mhf 1929, of 15 points in the one group and several ts in the other. The end of 1929 und the industrial average exactly where it wu at the end of October, but still oyer 40 points above the low of Nnivnflzh iate Winter and Barly Spring e la of 1930 came the “sunshine market,” owing out of predictions from Wash- that business recovery was in t and out of the rapid pick-up that had occurred in the iron and steel and l Baltimore Markets - I Special Dispatch to The Star. ., September 18. | Potatoes, 100 pounds, 75a1.20; sweet | potatoes, bushel, 50a75; beans, bushel, lmm; beets, per 100, 2.00a2.50; eab- bage, bushel, 25a30; carrots, per 100, 3.0024.00; 5a15; cucumbers, hamper, 20a40; eggplants, h-nper. 20a35; lettuce, per 2.508 caulifiower, _crate, .00; crate, 1.50a3.25; Tlima Oh'l. ‘bushel, 1.008 hamper, 20a25; onfix:. ; 8y aniaiues, " oAates ens—Young, 21a26; 1i.=|- 30835; ladle, M store vu:ted. 16a17. Hay and Grain Prices. ‘Wheat—No. 2 red Winter, munm, No. 2 nd Wlnht nfluty MMM Rye—N Hay—Recel none. New hay is starting to in quanti- tles, !mz so far no d quiet, wif ' favor lz;nnceol 14.00a1i oo ton. traw—No. 1 wheat. 9.00a9.50 per ton; No. 1 oat, 9.00a10.60 per ton. Live Steck Market, Cattle—Receipts, 1,400 . hiead; good supply; market lndy Bleets Ghoice 10 to_choice, 6.7587.75; medium to 6.00a6.75; falr to medium, 5.25a5.75; piain to fair, 4.75a5.25; common to plain, 4.00a4.75. Bulls—Choice to prime, none; good to cholce, 4.50a4.75; medium to good, 4.00 84.50; fair to medfum, SWLM. plain to fair, 3.25a3.50; common ‘to plain, 8.00a3.25. ” Cows—Cholce*to prime, none; good to® choice, 4.25a4.50; medsm to good, 3.15a4.25; fair to medium, 3.25a3. "5 1 .2683.25; common 1 ime, uo.us. good to choice, GA .M. medi , 5.7586.00; fair to lum, .. lain to flll', 4.7585.25; um 5. springers, - 30.00a rw;‘h‘?’, |57m _fi) light pt(l, 5. ml": pigs, 5908830, : ; CHICAGO MBY nm‘r CHICAGO, September 18 (l’) —But- ter, 10,288 tubs, steady; creatoery spe- (93 score), 30a30%5; extras (92 score), .29%. extra firsts (90-91 score), 25 ‘gl Eges, fl\'lu. 20; fresh graded firsts, 1 rent receipts, 18a17%. Leghorns, , export, no | prime, none; good - uhn-l.wh- industrial a ‘which Ml’ end of 1020 around 230, advanced about 65 but the a ad- | pounds and 2 ws% nn-in Talls was less 15 nd-.lhzfll%b!wu-hw - hens, n.mmm-mumunflhnm m ‘ul. wvemem.m over, 32a23; m..nam.m...."&n ads, m BB SR ] R R iy oot ar moanm, 13 cow, 814a9; veal, tp, 1 ; medium, 12 h%' IIQIO 1 Fre reached an average below that on November 13 of the previous year. bles—Potat :oou?;m - oes, per hml 1.758 New York Cotton Speeial Dispateh to The Star. NEW YORK, September 18.—Partly owing to unsettling outside factors and ine part to the increasing movement of cotton in the South, prices moved lower on the Cotton Exchange here today under increased selling pnuum CHICAGO STOCK MARKET - By the Associated Press. N ” s L% G- i ; . 3 g .Eil;il- CioX ™ S Ve & & s 53 = e d ey FoEar¥us 28,5 33 NN > CORAL GABLES SPECIAL COMMITTEE REPORTS GMN av;;l.n'nunmummn YORK, September ll —Thz Bondholders’ Prctective t & nhmu e s a g i '.:,_g_ 58! & R all Fleld lilams Dr "GE." v ' ® v Sralafed 25, e & i b ot B 2. Beatia 2at B8, *i..wr.u.,z. 1oy STOCK AND BOND W AVERAGES 2, 3 i Eae- e