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FINANCIAL, SELLING OF CURB STOCKS CONTINUES =z New Crop of Low Records ;m Appears as List Sinks. BY JOHN A. CRONE. @pecial Dispatch to The Star. NEW YORK, September 19—A flood of Aemnr{ greeted the opening Wfl: of the Ou Exchange today an forced scores of stocks to new low lev- els for the bear market, but at the end ‘of the first hour some signs of a Tally appeared. Electric Bond & Share hif a new low and so did cuhn Service in early dealings. They took with them such pivotal public utilities as Consolidated Gas of Baltimore, United Light & 'a Hudson Power, lison. Britl!h shares: were offered rnely, some of this selling emanating from London, where securities markets were open on a Sature was made in an effort to lend every facility for trading. an! Motor Ltd., General Electric Brazilian Traction and Swift In- urnulmul were the first foreign shares to enter new low territory. A brisk rally in Swift International, however, came hear the end of the hour as directors declared the usual common quarterly dividend and one dollar extra, or the same payment reach record low Dresser Manufacturing A broke about nt between sales and was quickly followed downward by the B shares, which hit a new bottom. British- American Tobacco B was adversely af- fected by the news of the Japanese oc- cupationt of Mukden, since China is one of the tobacco company's best overseas New Jersey Zine, Irving Air Chute, INiles-Bement-Pond, ldman Sachs, Blue Ridge common, Prudential Inves- , St. Regis Paper, Niagara Shares and Standard Light & Power soon fol- lowed the more ;filn members of their gt [ e e 7 ;? S8 i o e g R ut dsdnigozs rufff e £ PP IR vy F R F RN PV 7 i 8 278, W mum;:isfi'i 58 2 3 4 233LIISETEIN FEEERF B 2 R ot ‘:223838?!!282:::! sg.- sS85, & & =S| il W & i iy - 58, S = o S = BF %, * seg5e! & & F rra v s W B2 2885 ansizaaan FFEFE TR, FEEEE 2238Esaeizanass S = W o2, = i i ; gl Y i " gifete 1 e ) Srss: e pETE T 2 SRR gng: T F O SNE AR £ 9 8 3 », ', sEgaaneyseats 4 § Xy £ TRRRRSNY F Se SN FEEEF o %P errmrss i e R "‘%?gl Q; Swf, FussiesSissrannay FF R W RTERARSERY < Aoey zwgg X 3 goe B FERER oo =28 55 g E 13 KERKERLE] EEEE e 3 1B B! ) Y35 3 s3sgEsineysisiesssiensSekenpnayenetaingneinsiiisrasizara susnans 23; gsm::::gzlasasxx 5 " 32D FE SN SRR § NEW YORK CURB MARKE 10 THE EVENING STAR, WASHINGTON, D. C., SATURDAY SEPTEMBER 19, tocks seld in 100-share lots except these desismated by letler “s.” r-P!“.l”I-\ 214 39% CI 34 6% % 2 170 1 5 24 4% 5 2% 5% ™ h - 2Ezezs *§!=8a8 Acetol Prod A. Adams Mill 1st Agfa Ansco pt. Ainsworth Mfg...... Allied Int Inv ev Df 2 Aluminu Am.1 Alum Ltd B wai Alum Goods (1.20) L (A) a8 Am Equities. . Am For Pow war. Am Founders. Am Gas & Elea ltl). Am Gas & Bl pt (8).. Am Invest Ine (B), ., Am Lt & Trac (2%).. Am Maracaibo Arkans Nat Gas A, Ark P& Lt (1) Assoc Elec Ind (30e) Asso G&EI (A) (al), Asso G & E1 pf (5) Asso r-\ Ut (b8%) wood Bellanca Afrcraft. Bell Tel of Can (8) Bickford's (1,20) Bigelow-Sanford Blue Ridge Corp, Blue R Cp ev pf (a3). Brazil Trac Lt&P(1) Bridgept Mch (250)., Brit A T rg 117 4-6e. Bunker Hill & Sull. . Burma rets $27 3-5e¢.. Buytler Bros..... Canadian Marcon| Carib Syndicat Cent Hud G&E (300) Cent Pub Sve A b5%., Cent&Swn Ut (b7%) Cent Stat El (b10%). D CI!BVPkLDT('K).. Chufl. Neon Lts Ine. EI Illum (1.60). Clevl and Tractor. Cohn & Rosen Inc Colon Oil Col Oli& Cmwith Edison Cmwlth & Sou was Com Wat Ser g12%c. Consol Afreraft. Con Gas Balto (3. Consol Gas Ulll (A) - Consol Retail Stores. Cord Corp. ( -ulhnaflflfl.. ElecB&Shpf (6)... Empire Pwr '!(l 24) Eureka Pipe L ( Europ E Ltd A (l“). Europ Elec debrts. .. Fedders Mfg Co A. Federated Metals, Fox Theater (A) OGamewell pf (8). Gen Aviation, . GenkE Ltd res 36 $-5e. Gen Empire (1). Gen GRE cvpt B(S). Gen Theat Eq ev pf.. Glen Alden Coal (4). Globe Underwr (15¢) Goldman !Iehl Graymur Cor; & 3 ERSH vn LoBundnlaviubintemibiulo uan L:-:..-:._»s 10 E] 1 15 1 % 18 167% Gt At&P Tnv ("") l“- 2% Hygrade Food 2% Italian Superpow A. 6% Leh Coal & Nav 1.20.. Guif Oll of Pa (1%).. Hamilton Gas v.t.c.. Hecla Mining (40¢) Heyden Chem (2)... Hollinger Gold (85¢c) . Hudson Bay M & S.. Humble Of1 (12%).: Prod T PL6% om pt(s). Imp Ol of Can (&0¢). Indiana Pipe Line(1) Indian Ter Illu Ol A, Insull Inv (b8%).... Ins Co ofNo Am 12% Intercontinent Petn, Int Petroleum (1) Int i Int Utilities B. Interstate 1 Irving Air Chute Italian Superp war.. Knott Corp (1). . Kolster-Br (Am 8h). Kress SH sp pf 60¢. . Lake Shore Mines(2) Leonard Oil. Long Island Lt (lMl Loulsiana Lan & Bx. McCord Radiator B Mapes Cons MIg(14) Marcont IM(73 2-6¢). Masonite Corp...... M Mavis Bottling (A).. Mayflower Asso (2) .+ Mead Johnson (15).. ™ ¥ S TR .......3...............! o TR 58y EF 38235, 2xisssasseanss FRFFEEET lur = l Oul i fu Mid West Ut (b8%) Mid W Utevptxw 6 Received by Private Wire Direct to The Star Office 4 Mid W Sts Ut b10%.. Mid Royal ev pf(2).. Midland Unit (b6%). 88 Mont Lt H&P (1% 19 Moody’s I8 ptpf (3) 3% Mountain Prod (1).. 76 Mount 8t Pow pf (7) 10s X!- 3% 5% ll“ I\t % 1% 1% 16 83% Puget Bd Uni 4% Uil 8% W 12% Nat Pub Bv A (1.60) 8 Nat Rubber Mach. Bervice Co. . ShTBecA $40e. o Pittsburgh&LE(110) ‘“ Plymouth Oil (25e).. 1% Polymet M| Ut Hy Pudb Ut H;ll ou hl(“) &% Tung Sol Lamp(1) Tung Sol Lipf (3).... Ungerleider Fin Cp.. Un Gas of Canada( Unit Gas Corp war. 80% Unit Gas pf (7)+ . UnitLt & PwA (1)., U B Inter Bec 18t ! Ullll llb 8 VL. Ext 15 Unlv ln- (1%).. 4% Ut PALt(at1.02%). 2% Utility Equities. .. 7% Uil :quli! PL(E%). lfllfl 4% uuumn a%).. & Vick Finanelal (30¢) 4 Waitt&Bond B(80e) . nden Copp Williams R C (70¢).. 2% Wil-low lhfl(lfl.ll ‘Qolworth (F'W )L 4% Woolworth Ltd pf. . 1% Wright Har ('lz%e) %,“Y" Oll & Gas....... 4 ] Ve ISATURDAY MARKET | SESSIONS RESUMED %! London Exchange Reopened for Business After Long Week End Closing. BY NEGLEY FARSON. By Cable to The Star, LONDON, England, September 19.— The London Stock Exchange reopened for business today for the first Saturday in 17 years. The solemn gathering of '.op hats, backed by a depressing waste- % |land of empty golf courses, 'is facin 4 18% 8% N Y Merchandise (1) 1 lll% 118!( NYTIX PL(6%).... 268 Niag-Hud Pow (40¢) 120 Niag-Hud Pow A w.., e Niag-Hud Pow B w., Niag 8h Ma (40¢)... Niles-Bemt-Pond (1) Nor & 8o Am Cor North European Nor 8t Pow A (8) Nor 8t Pow pt (6 Novadel Agene (4) Ohio Copper. . Ohio Oil cu pf (8)... PacG&Elstpf1%. % Pac Western Ol !nn Am Alrwa) % Pandem Ofl. .. M Paramount Cab I'l- Parker Rust Pr (3)..150s Pennroad Corp (40c) Penn Mex Fuel (75¢). Penn Pw &Lt pt (7) 1008 Penn Wat & Pow (3) & Perryman :I;lecm. 26 45 1 00 O 0N 10 O 10 b e O &L pf (5) 4 Pyrene Mfg Co (40¢c) 126 Quaker Oats (17).... 30, 2% Rallroad Shares(40¢) 1% Root Ref cv pr pf. 2 ' Rossia Intl (10c) 1% Ryan Consolidated 8% Bt Regis Paper (60).. 4 Balt Creek Pro(1.40). l'u Sehift Co (2).. .. Seaboard Util (28¢c) .. 52 Sherwin Wil (14% 8 - Silica Gel ctf: 19% =unou.uu( P 156 Stand Oil'of Ky 1.60.. 24 Stand Pwr & Lig! 24 Stand P& L (B) 49% Stand Screw (6 2 Starrett Corp. 8% Starrett Corppf (3).. 3 Sunlnvest...... Swift& Co (2).. 29% Swift Internat (3 4 Syracuse W Mach 38% Tampa Blectrie ($2). 3% Technicolor Iner. . Teck Hughes ($0¢).. Texon Oli&Land (1). Thatcher Bec Corp. .. - Bow albnuandem = e ORI 0 - se.nee onoRandy ‘li 508 2I - & e - o P T ST =TT 2% 8% 8% (d‘ I I REE BALTIMORE, September 19 (Spe- clal).—A eut in the rate of dividend on 2% | Great War. & | debt % | penny of which glorious wars. 2% | Baltimore issue in many * Co. at 106.8624. a financial horizon as flat as the de: Y |sea—on which the vista- of prosperity is still a doubtful mirage. ‘The Stock Exchange decided to close on Saturdays at the outbreak of the After the cessation of hos- tilities and throughout the fat days of prosperous buying, the British brokers pre ferred to spend their samrd-y- ocking white pills around Today, when there are plenty of ullen but few takers, the exchange becomes active again—to do what? “Well, a - leading stock broker sald today. “The Market is as flat as hades. The truth is, nobody here or abroad is going to have any Y conndence that this present government is going to get us out of the mess—until we see some drastic signs of action to redress the adverse blhnce of trade, which every one now ts is going mwkme hole £1, 000000 (M 860,000) a week.” Effect of War Dgbt. The facts of the case are that Great Britain is still being ruined by the great war debt. And whether President Hoover decides for a_ five-year mora- torium or not, Great Britain will have to go on plytng this debt—because most of it is held insfde, under the 1932 Bal- four declaration, Great Britain paying the United States no more than she receives from the allles, and if are canceled out, Great Britain’s war yments go on the same as now. In fact, Great Britain will be saddléd with an additional $55,000,000 a year because of the war debts usually paid her by the colonies. These are the facts. Great Britain's national e: nditures for the current year total $4,422,000,000. Leaving out sel ncing items, this reducu to $4,015,000,000. This is ex- 16,000,000 more than in the flul.l 1913-14. And of this $3,- 116,000,000, no less than $2, olmmnofl is for war debts, imperial penllons F‘Alter the self-balancing items have been deducted, this is exactly 50 per cent of Great Britain’s st ering ud- % | get of 1931-32. This colossal burden is called the national debb—vtnunuy ev past a Berare the war it was the modest figure of only $3,305,000,000. Today it is $37,980,000,000. This is the old man of the sea that the doughty Englishman has through- out our lifetime to carry on his back. Much of it is due to his ty—or common sensé—in relievi the -um of what they owe him in order to in- crease the revival of trade. British Sacrifices. In the cancellation of war debu vol- untary or otherwise, the nng sacrificed more than $4, ‘This sacrifice alone costs ti taxpayers more than msmooo a year, plus the further sacrifice under the Hoover moratorium of a further is due to 1931, Everybody s Business Renewed Pressure in Securities Indicates Vicious Raid, Helped by Adverse News. BY DR. MAX WINKLER Special Dispatch to The Star. NEW YORK, September 19.—The hysteria which characterized the New | market v‘m of York securities market throughout the greater part of yesterday's trading is | SFACURE OUt attributed primarily to selling for|ing’ g4 European account. This is only plruy (Copyris Europe. kno true. Those who know better. The Old World is less subject to the whims and moods than the younger and more temperamental continent. The renewal of . n-\lre bears all the felped mastritly by T dabiaption of elped mi 3 n Mwno news, bo domt Al verse reports, mum.?nlfinmmupufl the center o Lg! ‘Too much emphasis is, hnwever 1al gfnn the fact m the recently gran up and not en attention is paid the victory of the MacDonald government on financial resolutions relative to the reform of the unem- loyment dole. P The alarmis statement by the Finance Committee of the League of Nations' to the effect that the present crisis ul wmetpr of such statements at this tlml mly 1l be questioned. Van Sweringen Pussle. ‘What i called the Van Sweringen did not help the situation. situation is admittedly one of the most o, oatr lnurutln and at the same time ‘Wall Street Mly A ?ew years ago name Vm Sweringen and the meteoric rise in the railroad field of the Cleveland wiszards filled every American with surprise. Within a relatively short period of time they had achieved lcuous success. Those familiar with the operation and management of American rallroads ukemd the Van Bwerlnleu to all those great _Americans ghyed such a prominent mle ln t.he levelopment of the eountrys carriers. Amid the noise of fanfare and drum, )‘ the various projects evolved by them were launched by Wall Street's leading financiers. It was a privilege and s rare distinction to be invited to pate in the various deals. Chief among these was the Alleghany corporation, created in January, 1929, by O. P. and M. J. Van Sweringen, to take over from themselves and assoclated eomm:}:: next Th certain stocks of railroad compa: and engage primarily in the business of lnv!lfin‘. directly or indirectly, in rail- lyndiuh of American banking than which no better are ing in 1944, 1 yield 5 of that of $85,000,000. There was also 5% per cent preferred stock at 100, and common stock at 24, Today, the above securities constitute, as regards uotations, a mere ow of ormer grandeur. Some of the 5 per cent bonds sold as low as 34; the pre- ferred is down to 10, and the common sells below 4. m‘ll‘}l: enur:a Van lw-fln.mmngl.chm would seem to require it is believed that a good deal of the Those who have plas in maki le flce!m interest income is required to ‘3 ternnlly inside on the war debt held Great Britain, In sim) God_knows they are terrible uva-uu ‘English- man has to raise $5,000,000 every day simply to br.’ the interest on. his ot evan more terrifying i the effort ut even more e the Englishman must now make to do lnuwflllnd the sweat of labor in the face of the catastrophic fall in mou Take the internal part of the ebt. 1921 were $1,540,000,000. rent year, 'nh the payment of princi- p-l this, it is estimated, was reduced to $1,365,000,000, a reduction of $175,- 000,000. ' But, owing prlcel, the real cost to the nation has risen in goods and services by $470,- 000,000. (Copyright, 1081) New York Cotton Special Dispatch to The Star. NEW YORK, September 19.—Trans- actions in cotton today were the heav- iest of any Saturday so far this year, and under steady selling pressure prices moved downward into new low territory and ended with a loss of about 15 points on the day. March touched 6% cents, with all months but July below the 7-cent figure. Weakness in stocks and in sterling exc] e increased liquida- tion toward the ci duced 15 points to 6:25. Cotton range: Cotton nn(e:m lo_n-d Tssue Awarded. BALTIMORE, September 10 (Spe- clal).—A hnunl group headed :z % | Alexander Brown & Sons Was & (3 ;;-urday Baltimore City's issue of $6,- 000 4 per cent serial coupon bonds at & price of 106.877, or about a 3.56 this was the highest price years. Other members of the successful syn- mwe were -Haurris-Forl & | exclusive mmcnnuve for the O3 458 X Mein & G est bid_fell a shade below thle‘ sugeessful o::gn This was submitted by Dillon, Read L e of B Swerihgen activi { the Van Swe: en V- fies, have as yey done little, when thelr aid is most needed. h! Only after selling down to t! level 1yn more than two decades, Read- ing common recovered somewha largely as a result of short covering. It would seem that little or no at- guide to the future. three years, Reading reported te profits on the common of almost :‘ share, and even if 1931 shows mue or no profit on the common, the nflmflu appear unduly unless, of course, one assumes the railroad situation in the United States to the fall in|r Consumption of food declined only pared with a shrink-' age in corporation profits of about 40 percen -mdln'm Lewis W. Waters, vice president of the General Foods Corporation. In other words, the food bill of the American Nation has not T uainsas conations. L eral ess Con( Mr, Waters advances the rather i thought that the projected develo) it cf low wmurm %nngm lor helpin( to relleve the de- 'x'he r-ct '.hne farmers among the main e Burll lymm nre financially nbu m hola encous M mhmnn nraddcnt to '.he principle n! dlvmlfluflm ’f; | ticed by farmers in the Burllnmn dis- trict, contrasting with conditions in the i Southwest, where growers, de| grain alone, were forced to rush crops to market immediately after their harvest, regardless of the price offered. New Product Pushed. According to a reliable report emanat- ing from Sweden, Thomas Edison, Inc., has acquired the exclusive right 0 muf-cture and sell in the United States the pmdu:t of the Swedish Pulvis ‘Transmission Co. of weden and hln for that purpole, d with the Ramsay C! cern the Transmi gineering Co., in which the Swedish concern i also represented. PFrom the same source, it is learned that the le.dinx Swedish wireless com- pany, Aga Baltic, has been s t.iq navian countries and Finland of the mnmne corpornlon of America. e e e obiabet Ehan: b hich t! ar have lu 'u’:vmmm tions in the American STOCK AND BOND AVERAGES By the Associated Press. SATURDAY, SEPTEMBER 19. l become more Aacute and |5 FIN ate in complete def: Bolivia, Cl Peru. 5 ‘hile IM lfllh‘llndill dfllfll: with mefl to 1 o e cities -ro complete default. lnu oolomlm are the only & h at face nfi; “"‘flm uf"m. of " which ones w] menh $1,431,2 outstanding, unl y that. g:o 222480 has been peid per cem ot the amount issued, 3 On_the of otations, the lbov bonds 1“ te 'Iu m 106 pnd th me the total Amwnt vu'.mnu- $470,649,520 is in default. 1931, by the N¢ America wisaper Aliano, The.) £ l Baltimore Markets I Special Dispateh to The Star. BALTIMORE, Md, Beptember 19— Potatoes, 100 pounds, 7881.20; sweet po- ing shrin Innd tnou. bushel, 50865; beans, bushel, 40 ; beets, per 100, 2.00a2.50; cabbage, | 5 t & substantiai I’“‘Iul. 35a40; carrots, per 100, 3.00a credit has [4.00; corn, per dozen, 5a15; cucumbers, h-m T, 20a40; eggplants, hamper, 20a lettuce, per cnt.e. 1.50a3.00; cauli- flower. crate, oo, eelury, crate, pu. foa bo: l 2.00; lquuh batrel, lhg:‘md‘ hamper, 25a50; canners’ stock, bunhex 0nBO; les, bushel, 28a90; canta- loupes, c‘r':?c, 1.00a1.75. Dairy Market, Chickens-—Young, 22037; -Leghorns, ll fll. old Mnl? 18a26; old, l'ml‘l. 12-15, ducks, un: ; guinea fowls, pair, ltll cases; firsts, 2 Bnmx\—-uood and nncy. emm M):I.i hdle 20a22; process, 23a24; ‘g' pa COUNTY BOND SALE. BALTIMORE, September 19 ( ial). —Bids will be wdw m NCIaL in: $9,100,000 Safe *»¥ A-—15 4,000 MEN PUSHING POWER DAM WORK Harbor Project on Susquehanna Progressing Rapidly. Special Dispatch to The Star. SAFE HARBOR, Pa., September 19.— Employment of labor during construc= tion of the great hydro-electric devel- opment at Safe Harbor, Pa, reached the peak figure so far last week. There are employed cn the dam, power house and transmission lines 4,000 men. In addition a staff of 200 engineers and draftsmen are at work in the company's offices. Work of harnessing the hanna at ¢his point is months of schedule. The amount t5 be expended as wages during construction of the dam and transmission lines is $9,100,000. Construction of the dam and power house at this time has not only pro- vided employment for many, but it has enabled the company to select an unu- sually ‘rn-typc of labor. Its purchases or supplles and equipment have been advantageously and work in many manufacturing pl Bafe Harbor will have an initial mxbhn cnmey of 255000 horsepower and the installed capacity will be 510, 00 horsepcwer. It will be intercon- wer development of tlu Pcnnqlu.nh ater & Pn'et . at Holtwood on s B Buuuehanm. operated as a llnxle constitu one of m-m‘- The ccncrete barrier reaches from shore to shore. The quehmnn is about one mile wide at tml nings left in the lmum n be closed during the n its of . The Board of Caulity Gomfnissioness of | ceived. onuomery County for four issues of per cent bonflz - $375,000. court Rouse bmda‘ mooo suburban district bonfl, G'ID o&ollee force deficiency bonds and $30,f wu::e m- tion fung bonds. All were autl at the 1931 luslon ol e otter m“?u'f‘}am the’ award issues of 4 per cent bonds, $6,827,000. Patrons to Berlin, Germany, movie ;h ters in the last fiscal year totaled i consist of $175,000 | Safe of Baltimore city's five | aggregating it Harbor of turbine, g auttr. transformer and switching equip- Delivery of power over the 70- 220,000 volt transmission line to system of the Consolidated Gas Light & Power Co. of Baltimore is ex- pected early this Winter. psen U FRENCH WOOL IMPORTS. By the Associated Press. French the mfl:.fiul Mnd a mm period of 1 *Ammsmm B ot You can find RE(:EIVEI! HERE what you are seeking through a Star Classified Adv. There is no other way in which to contact se many people so directly as through a vertisement in The Star. Ad- State explicitly what you are seeking and you'll be surprised at the results you obtain, Copy for The Star Classified Section may be left at any of the following authorized Branch flices— ready to render service without fee of any kind— only regular rates are charged. In the Northwest 11th and Park rd.—Arm- strong’s Pharmacy. llfll and P sts.—Day's 11!5 llth’ st — r & Brock. 2012 14th st.—Colliflower Art & Gift Co. 3401 14th st.— Bronaugh’s Pharmacy. 14th and Buchanan sts.— Hohberger’s Pharmacy. ltth st. and Colm'm ave. ’Donn and News Shop. nas Colnmbh rd. — The 1“1 215 N. Y. ave. — Bmlhry Pharmacy. ist and K sts.— Duncan’s desk| 7th and O sts. — Lincoin Dm{ Store. (Y IM‘ R. L ave—J. In the Southwest 10th st. and Va. ave.— Herbert’s Pharmacy. 816 43 st.— Harrls’ Drug Store. 414 and L sts.—Columbia Pharmacy. In tIie Northeast 208 Mass. ave. — Capitol Towers Pharmacy. 3 dth and H sts. — Home Drug Store, . st.—Garren's Musie S 2 12th apd Md. ave—Luck- ett’s Pharmaey. . | 1|='=:.kud. ave. - Youls ¥, 2 ,Kur%l Capitol and Eye—Kén- ealy’s Phar- ‘macy. 5916 Ga. nvu--lflcltwul Pharmacy. Ga. ave. and Kennedy st. —Lampkin’s 2901 !hemu!l‘“mm man Ave. Ph: 3 6224 3rd st. — Stewart’s 1905 Mass. ave. — Dupont Pharmac; 18th and Fia. ave.—Bern- stein’s Drug Store. Fla. ave. and Ist st—N. iskin Rel 3 ‘North Capitol st. and R. L ave. — Parker’s Phar- macy. 1742 Pa. ave. — J. Louls Krick. Conn. ave. — Joll’s Newsstand. Wisconsin ave. and ?u.-l st.—Harry C. Taf 4231 Wisconsin ave.—Mor- nu thollln ave— Haney’s. Wisconsin ave. and O ‘.— rug Store. 5104 Conduit rd. — Modern Drug Store. In the Southeau There’s Oné Near You