Evening Star Newspaper, September 24, 1931, Page 14

A4 wie STEEL PRODUCTION OFF DURING WEEK| Drop of One Per Cent Shown in Output, Says Trade Journal. NEW YORK, September 2¢.—Iron Age, in Its weckly survey of the iron and steel trade. today reported that steel ingot production had subsided from 30 to 29 per cent of capacity and sald that major producers, in an- nouncing & 10 per cent wage cut, “bowed to the inevitabl> after weather- ing two years of slack operations.” “In finally recognizing the necessity of cutting -the coat to fit the cloth,” the publication says. the steel pro- ducers “have set a precedent which, it is now belleved, the railroads must fol- low, whether they receive partial relief through freight rate sdvances or not. Railroad buying programs are extremely slow in developing, and it seems un-| likely that they can really get under way until the rate and wage questions are_settled. “Iron and stecl demand has subsided #o the August level and ingot produc- tion has receded from 30 per cent to 29 per cent of capacity. Prospective business in some “directions, notably in public construction work, is still fairly promising. but in other lines, and par- ticularly the automobile industry, the outlook has become increasinigly ob- | scure. Inventories Low. “Generally speaking, iron and steel inventories in buyers’ hands are very Jow, but they are. nevertheless, -mple under present conditions and will ably remain so until there is a l'!V‘\‘ll of demands bised on expanding ulti- mate consumption. It is clear that Government undertakings and public utility projects, helpful as they are in supporting current iron and steel out- | put, cannot fill the gap left by the sharply curtailed purchases of the coun- try at large. “Sentiment has no doubt been over- stressed as a business influence dur- ing the current depression, but it is the belief of the steel trade that the mental attitude is today a factor of major im- portance. Abandonment of the gold standard in England and a reduction in steel wage rates, here have helped to clear the atmosphére. “Structural steel business is featured by the Imminent award of more than 61000 tons for a New Orleans bridge. e American Bridge Co. submitted the low bid on the main spans and the McClintic-Marshall Corporation the low figure on the approaches. Lettings re- ported for current week at 12,000 tons are smallest since February. Nzw pro]- ects to come out figure at 49,000 tons. compared with 37,000 tons last week and 20,000 tons two weeks ago. “Automobile pmdllefion shows mno signs of improvement, with probability that the September total will h“ below that of August and that October out- t will be even smaller. Retail sales E’ dropped sharpy and some motor car makers have now deferred the| bringing out of new models until De- cember or Januery. Seasonal Decline Arrested. “The seasonal decline in tin plate output has been arrested, with tin mill operations holding at 45 per cent, and production may Soon benefit from the | rolling of anticipated releases. “Prices are holding surprisingly well, subject’ to “severe tests. , Steel producers see no point in sugges- ‘ tions that the savings from wage cuts hep-nedumwnn ‘They point out that what they gal , the re- duction will pmblbly fail to lift them the red. o Iron Age composite prices are at 2.116 cents a pound for mdmuuz-m-mm pig iron end $9.17 & gross ton for steel oo MINIMUM PRICES ON STOGI(S DECLARED Bpecisl Dispatch to The Star. BALTIMORE, September 24.—For first time since the war days of nlt minimum prices have been officially fixed for shares listed on the Baltimore Stock Exchange. The Governing Committee of the ex- rhgntv, following conferences -with ssed resolutions fixing the hr h prevailed at the close of Erulllnu on September 22 as the mini- tmnll below which bids would not be for. execution. It is under- lt that member houses nave oeen notified that the order will stand until further notice. Official notice was also sent out to houses here that all transactions in listed securities on the Baltimore Stock Exchange must be made on the Stock Fxchange and no transictions in such securities may be made when the ex- change is closed. This resolution, as well as the resolu- | tion fixing minimum prices, it is under- etood, applies only to members of the exchange, and private transactions be- tween individuals outside of the ex- change and deals over the counter be- tween non-members of the exchange will not be affected. CHICAGO LIVE STOCK MARKET CHICAGO, September 24° (P).— (United States Department of Agri- culture) —Hogs—Receipts, 25000 head. including 6,000 b direct; “10a15 lower; heavies and sows steady to 10 lower; 200-280 pounds, 55025.65; top, 570 for 210 Wlnd&. 140-180 pounds, 5.00a5.40:; 4.25a4.90; packing OWS, 490-490 "light light, good and choice, 140-160 pounds, 5.00a5.35; light weight, 160-200 pounds, 5.15a 5.60 medium weight, 200-250 pounds. 5.50a5.70; heavy weight, 250-350 pounds, 4.90a5.70: packing sows, me- dium and good, 375-500 pounds, 4.00a p.oo slaughter pigs, zootr’und choice, 00-130 pounds. 4.2524.9 Clll\e—RecflpL‘ 8.000 head: calves. 2.000 head; very few fed steers and long yearlings: load or so bringing steady | prices early, but later bids weak to un- | evenly lower: sellers fighting decline: early top weighty bullocks, 10.15, with 10.00 bid on strictly choice long year- ings. but hardly enough done to make 8 market; she stock steady; bulls and wvealers higher. Slaughter cattle and vealers—Steers, 0od and choice, 600-900 pounds, 7.75a8 0.25; 900-1,100 pounds, 175-]025 1,100-1,300 pounds. 7.75a10.25; 1,300- 1500 pounds, 7.75a10.00; common and medium, 600-1,300 nds, 4.00a7.75: ‘Thetfers, ood and choice, 550-850 pounds, 7.00a9.75; common and medium. 3.00a7.00; cows, good and choice, 3.75a 5.50; common and medium, 2.75a3.75: low cutter and cutter, 1.75a2.75; bulls (yvearlings exciuded), good and choice (beef), 4.2525.50; cutter to medium, 3.7524.50: vealers (milk ‘fed) good and choice, 8.00a10.01 medium, 6.50a8.00; cull and coymon, 4.50a6.50, Stocker and feeder cattle—Steers, good and choice, 500-1,050 pounds, 5.00a6.75; common and medium, 3.50a5.00. 27,000 head: choice lambs strong to higher: others steady; shecp and feeders unchanged: bulk native lambe, 5.75a26.25: cutsider: 030!5:0 ‘Westerns unsold; rcng= fcedes 5.25; best native cwes, 2.00; I h‘ dewn, gond and choice, 5.502 6.85; medium, 4.5025.50; oll weights, common, 3.2524.50; ew2s, 90-150 pounds 1.0022.25; |ll 50-75 ds, mx nd feeding -75 pounds, good a: choice, 4.7525.50. e nusvn CERTIFICATES. [ ted by 5. & W. Seligman & Cop Ticild= FINANCIAL. THE EVENING STAR, WASHINGTON, D. C. THURSDAY, SEPTEMBER 24, 1931, NEW YORK STOCK EXCHANGE Recelved by Private Wire Direet to The Star Offiee. (Continued From Page 1931 — High. Low.' Dividend Rate. 35% 2% Lou Gas&EIA (1%). 11 50 Lmnul\unvulc(fil. 19 6t Ludium Steel. ¥ 18% McAnd & Forbes (1) MeCall Corp (2%). .. Melintyre Pore M(1). McKeesport T P (4). McKesson & Rob(1). McKes&Rob pf(3%) Macy (RH)& Co(n3). Madison Sq Garden.. 4 Magma Copper (1).. ManhatBlev mod gtd. Manhattant Shirt (1) Marlin-Rockwell (2) Marshall Field (2% ) Mathieson Alkill (2) May Dept Strs (2%) Maytag Co 15t pf (8) Mengel Co. ... Mengel Co pf (1) Met-Gold Pic pf Miami Copper. ... % Mid Continent Petm. Midland Steel (3)... Minne & Hon Reg (3) 4 Minne-Moline P pf Mo Kan & Texas Mo Kan & Tex pf Missouri Pacific Missouri Pac pf (5). Monsanto Chem (1% Montgomery Ward. . Morrell (J) & Co (3). i Mother Lode. Motor Products (2).. Motor Wheel (1).... Mullins Mfg.. Mullins Mz pf (7). Murray Corp. Nash Motors (4).. Nat Acme Co..... Nat Air Transport Nat Bella Hesg...... Nat Biscult (2.80)... Nat Biscuit pf (7)... Nat Cash Reg A 1 Nat Dairy (2.60) Nat Dept Stoves. Nat Dist I'rod (2). Nat Enam & Stamp. . Nat Lead pf A (7)... Nat Pwr & Lt (1).... Nat Radiator. . Nat Radiator pf. Nat Steel (2).. Nat Supply pf (7). Nat Surety (2) Nat Tea (1)... Neisner Brothers. ... Nev Copper (80¢c). 4 Newport Co (1). Newport Co (A) (3). Newton Steel. ... B‘IK N Y Central (4). 15 N Y Chicago &St 1 18 N Y Chi& StLpf 227 180% N Y & Harlem (5)... 1214 2% N Y Investors. 94% 36% NY N H & Hart 119% 93 NYNH&HDI’('“.. 13% 5% N Y Ont & Western.. 2 % N Y Railways pf. 12% 3% N Y Shipbuilding. 107% 190 N Y Steam pf (6) ‘118 111 N ¥ Steam 15t pL(7). 29% 13 Noranda Mines..... 814 21 Norfolk & Soutitern. 123 Norf & Westn (112), 11 4% North Am Aviation. 90% 43% Nor Amer(bl0%stk) 57 49 North Amer pf (3) 1073% 98 North Am Ed f (6 60% 23 . Northern Pacific 3).. 19% 367 2% 18% 40% 161 10% 4w 13 4 10 3y 83% 37 153% 145 39% 18% 60% 22 e 1% 19% 136 B3 20 6lx 20% 55 24 182% 10 11 47% 43 Northwest Tele (3). 6% Ohio Oil......e. . 2% Omnibus'Corp. 18 Oppenhm Collins (3) 18% Orpheum Cireuit pf.. 25 Otis Elevator (2%).. 4 OtisSteel........ 42 Outlet Co (4) 113% 106 Outlet Co pf ( 89% 25% Owens 1il GI: 12 3 PacificC 54% 35% Pacific Gas & El & 131% ua Pacific Tel&Teleg(7) Packard Motor (40¢) 16 Paramt-P(m1.62%p) %4 Park Utah. vgss 1% Parmeles Transport. 1 Pathe Exchange..... 3 Pathe Exchange (A). 4% Patino Mines........ 2% Peerless Motor Car. ., 26% Penick & Ford (1)... 2814 Penney (J C) (2.40). 90 Penney(JC) pL A (6) 30% Penn Railroad (3)... 23 Peop Drug Strs (1).. 963, Feoples D 8 1I (83) 147 Peoples Gas(Chi)(8) Pere Marq pf (5). Pere Marquette pr pf Petm Corp of Am(1) Phelps Dodge (1)... 28708 PhiladReading C& 1 36 Philip Morris&Co(1) 3 Phillips-Jones pt (1) 308 Phillips Petroleum.. 21 Phoenix Hos pf (7).. 4 Pierce Oil. . Pierce Ofl pf. Pierce Petroleum. Pillsbury Flour (2).. Pirelli (A) (m3.13).. Pitts United Corp. Pittsbgh & West Pittston Co. . Poor & Co (B).... 4 Port R Am Tcb (B).. Postal Tel&Cable pf. Prajrie Oil & Gas. ... Prairie Pipe Line(3) Pressed Steel Car. .. Proct & Gamb #2.40). Proc &Gamb pi (B).. Public Sve NJ(3.40). Public Sve NJ pf (5) Public Sve NJ pf (8) Public Sve N J pt(7) Public Sve N J pf(8). Pub Sve G&E pf (3) .. Pullman Corp (4). Pure Ofl. Pure Oil p! Purity Bakeries 25 29 4% v Radio Corp (B) (5).. Radio-Keith-Orph A. Raybestos-Man 1.60. Reading Rwy (4 Real Silk Hosler: Remington-Kand. ... Rem-Rand 24 pf (8). Tteo Motor Car(40c) . Republic Steel. . Republic Steel pf. Reynolds Metls(1% ) Reynolds Tob B (3). 1 Richfield Ofl. . 215 Rio Grande Oll 12% Rossia lnsur « 38% Safeway Stores (5). 85 Safeway Strspf (6). 1708 98 Safeway Strapf (7). 708 11% St Joseph Lead (1).. & Stl-San Francisco. . 1345 StL-San Fran pf(6). 7 St Louis Southwn 9 Savage Arms (1). A“Q lllh 10% 140 (18% 16% 2 22% 140 3 4615 96 10% g 13.) 18% 2% | 6‘ -2 | 8'». % 13% - % 8 % — % Stock and. Dividend Rate. 4 Schulte Retail Stores 40 Schulte Stores pf (3) % Seaboard Air Line. .. 8 3eaboard Oil... 42 Searn Roebuck (2%). 1% Seneca Copper. 414 Servel Inc..... . 4 Sharon Steel Hoop 5% Sharp & Dohme 12% Shattuck (FG)( 4 Shell Union Oil...... 23% Shell Union Ofl pf. .. 10%4 Simmons Co. ... 4% Simms Petroleum. 6% Sinclair Consol Ofl 34 Skelly Oil.... 10 Skelly Oil pf ww. % Snider Packing Bix Snider Packing pf. Net. \ta o0, High. Low. Close. Chee. 3 4w 4 4% ! 40% B 13% Socony-Vacuum 1.60. - % —1% 1% ~1% + % 20 70 SolvAmpf wwi(il%). 71% South Port Rico Sug. 3815 Southn Cal Ed (2). 55% Southn Pacific (6). .. 17% Southern Rwy (m6). 30 Southern Ry pf (5).. 18 Spalding (AG) (1) " 4% Sparks Withing (1).. “dpicer Mg pf (3)... 4 Spiegel-May-Stern 14% Stand Brands (1.2 214 Stand Comel Tobacee 391 Stand Gas&Fl (3% ). 421 Stand Gas&EIpf (4). 3114 Stand Oil Cal (h2%). 997 Stand Oil Exp pf (5). 8% Stand Oil of Kansas. 30% Stand Ol NJ (12). 9% Starrett(LS) (12%). 1% Sterling Secur (A) 3 Sterling Secur pf 22 Sterling Sec cv pf 4% Stewart Warner.... 16% Stone&Webster(m2). 10% Studebaker Co(1.20). 30 Sun Ol (q1). % Superior Oil 6 Superior Steel. 111 Sweets of Amer (17, 3 Tennessce Corpa Texas Corp (2).. Tex Gulf Sulphur( 39% 46% 1 34% 32 102': 10015 10 34 Tex Pacific Land Tr. 104 6% Third Avenue 16 Third Nat Inv(m5oc 15% Thompson (J R) (1). 7% Thompson Prod 1.20. 221 Thomp-Star pf (3% ) 61% 19 22% 134 2% 40 95 - 3 9 % bl 315 1% 101 2% 112% 73 12% - % U5 % 2% 131 14 4% — % 43% —T% 49 1 98 -2 27% -5 4“4 cooagacan “26 Wwal: w $ SEFSSEF FEEES EEs 4+ +4 FEOFF tions. xEx-dividend 4% in stock. 1Plus b pavable in stock, us 2% in stoc) 3% 3% in st s 2T i Rubber 15t pf. 2 S Smntg & Ref (1). %+ ) U S Smtg&Ref pf 3% U S Steel Corpn (4). U § Steel pf (7). 3 United Stores (A). United Stores pf (4). Univ Leaf Tob (3). Univ Pic 15t pf (8) Univ Pipe & Rad. 9% Univ Pipe & Rad p Util PEL(A) ef2.15 % Vadasco Sales Corp. Vanadium Corp Va-€aro Chem: Va-Car Chem 6% pf. 98% Va Elec&Pwr pf (6). 71%_32% Vulcan Detin (4) Wabash RR... Waldorf Sys (13%). orth Co. . Baking (A) Ward Baking (B) Warn Bros Picture: Warner Bros pf 3.85. Warner Quinian. Warren Bros Webster-Ei Wesson O11&Sno(2) . Wesson O&Sno pf (4) West Pa El pf (7)... West Pa Pwr pf (6). West Pa Pwr pf (7). Western Dairy (A).. Western Dairy (B).. Western Maryland Western Pacific Western Pacific pf. .. Western Union (8) Weriinghse A B(2) Westinghouse (2% ). ‘Wsthse EM 1st m3% 1508 Weston Elec Instru Westvaco Chlor (2).. 3 Wheeling Steel White Motors. White Rock (147%). Wilcox Rich A (212). Willys-Overland. . Wdllys-Overiand pf.. * Wilson & Co (A). Wilson & Co pf. Woolworth (2.40). Worthington Pump. 86 Wrigley (Wm) (4).. 17% Yale & Towne (2). 5 Yellow Truck 14% Young Spr&Wire(2). 25% Ygstwn Sheet&Tube. 173 Zenith Radio. 8% Zonite Prod Cy Dividend rates as given in the above table cash payments based on the latest a! sLess than 100 shares. 9% in stock. & 1ast vear—no reg € Pazable in cash of s 8 aid’ Tnis s ye-r—n- Tegular rate. 4 Tide Water Asso Oil. 29% Tide Water As pf(6). 50 Tide Wat Oil pf (5) 4 Timken-Detroit Ax 26% Timken Roller B(2). 1% Tobacco Products. .. 81a Tobacco Prod A 195¢ 4 Transamerica (40¢). . 5% Transue & Williams. 4% ‘T'ri-Contl Corp. . Tri-Contl Corp pfré) 28 Trico Products(2%). 71 Truscon Steel (80c). Twin City Rap Tran, né&Co..... Under Ell Fisher (4). Union Bag & Paper.. Union Carb & (2.60). Union Vil of Cal (2). Union Pacific (10)... Union Pacific pf (4). Un Tank Car (1.60).. Unit Alreraft, ... Unit Aircraft pf (3). Unit Biscuit (2).... Unit Carhon Unit Cigar Si Unit Corp (75¢ Unit Corp pf (3). Unit Electrie Coal. Unit Frult (4)... Unit Gas&im (1.20) Unit Gas&1m pf(5).. Unit Plece D W (2)... Unit Piece DWpL 6% U 8 & For Sec pf(6). 6% 29% 284 Bl , 81y 5 4 5 41 34 32 9% 9% 41% 38 14 1 27% 11 5% 19 49 29% i 2% 14% 44 7 8 Gypsum pf(7)... u S Indus Alcohol S Leather. . Pipe&Fy Ist 1. 20 Realty & Imp(1) ~1% —1% —T% —113 13% 1% 5 18% - L 1 5 103 108 384 36 6% 5 22 408 20 508 “the_snnual terly or half-ysarly declara- tPartly extra. IPlus r rate. a S apeciat réterres sipek ™ 2 n Plus GORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, September 24.—The fol- lowing is A summary of important cor- poration news prepared by the Standard Statistics Co., Inc, New York, for the Press: Associated The Companies. Affiliated Products reported may earn $3.50 per share, rrent year. New York Air Bral quarterly eol'-‘n‘pn dividend; paid 25 cents Au- Bu Colorado Fuel & Iron-to lower wages 10 cent. Products Refg. wages thought m:i' Al-o omission u( ble. usual extra dvi Jones & La aulm-uulo MM Wfldflm xu..-?“fl""’ preferred nwckl pajd -$1.75 on each class August 1 National Hrepmoflnl unfilled orders reported at high level; plants operating at_good rate. Northern Pacific Railway cents dividend; formerly salaries of TS Tan| declares 7. vl 3135 cuu fruln 10 to | 25_per cent, effective October 1 Pere Marquette Rajlway August deficit i after clurge- $3235,154 vs. sui | 004; t months deficit $1,295,507 va. us $1,850.989. & Co. deficit lntldmhd lor | current fiscal year to end October 3 off | preference share & -mlu'fl'flh cent; 12 months, gross off 2. et up, 1.7 per eent. § Pl peus e cen R e Pwre [anu u:mrln' declares quarterly dividend; formerly paid $1. 53’ cuts salaries and wages 10 cent. workers. " Y ey Union Manufacturing e:nu qunmrly dividena; | £ Pius Lid o Amer_Tel | & ACUTE WEAKNESS DEVELOPSINBONDS| : Afternoon Trading Wipes Out Nearly All Advances Scored Yesterday. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, September 24.—The bond market turned acutely weak to- day, ,Mnlu pace both in price declines and volume of trade the after- noon hour. At the close the declines in virtually all domestic and foreign bonds had wiped out the advance made on Wednesd: Profit-taking was blamed for the lower range of prices in the morning. but the acceleration of the slide in the afternoon hours made it apparent that { the market had struck another spasm ,or that extreme pessimism which has | characterized it in recent weeks. Time money rates advanced to 2 cent for 90-day loans shortly llterpen:)on Re-. ports of a wildly extravagant nature 'ern to bebholrd on all sides. new break in sterling quotations to weéll below the $4 mark and later busi: ness activity here were depressing fac- tors. British government bonds were under pressure in London. Sweden in- creased its discount rate to 6 per cent, indicating some substance in reports that the kroner may not long remairt at_its present basis. ‘The market was firm at the start, with small gains present in some of the domestic rails. But when stocks turned down bids for second and third grade railroad and industrial bonds were withdrawn. Many issues, such as Erie general lien ds, iegouri-Pacific bs, 58, | Alleghany Corporation 5s, Wabash Denver & Rio Grande-Western 55 and Southern Railway 613s, lost their early gains and dropped to et Josses on the ay. confined to moderate size. ~ Better grade rails were firm. Balti- more & Ohlo 6s, Northern Pacific 6s, Great Northern 7s, New York Central 58 and Atchison general 4s had smaller ” but equally unanimous losses. Canadian Pu:me perpetual 4s, on which interest &]lble in New York in United s gold coin and should therefore nm be subject to the fluctuations of Canadian exchange, advanced 2 points from their recént low. Domestic industrials were lower also. i ‘The heaviest pressure Was on interna- tional issues, such as International Match 5s. The bonds of the match ‘¢tombine were sharply lower because of the fresh doubts cast on the company’s loans to European governments by in- creasing reports that there will be a general revalorization of Central Eur pean currencies at the proposed inter- national conference. Other issues in this ¥0 to decline were International ‘elephone bonds, International Hydro Electric 6s, American & rorclln Power 5s, American 1. G. Chemical 5'2s, and the emissions of the Canadian railways. ‘The losses were more severe in the foreign list. German government 558 and Dawes ‘ Reparations 7s, h which had been firm near the opening. lost 2 to 4 points and later extended their losses. German Central Bank % | bonds, municipals, utilities and indus- trials followed suit. Italy 7s, after ad- vancing to a small gain on' the dropped all of that and more than 3 points in addition. Great Britain 5l5s :ltfle&bed lower prices for Britich bonds n London. group lost its early gains and then showed small declines. * Washington Stock Exchange & SALES. Barber & Ross 61:5—$1,000 at 78. Federal-American National Bank & | Trust Co.—10 at 45. Riggs National Bank—1 at 370, 1 at + %'Wumn;mn Rwy. & Electric 45—$2,000 | at 91 Security Savings & Commersial Bank— | 10 at 435. mmmhmr Linotype—4 at 72. National Mtge.-& Inv. pfd. —100 at 434, 50" at 415 Peo'p]gu Dru[ Stores pfd ~—5 at 99, 10| AFTER CALL. National Mtge. & Inv. pfd.—355 at 43 Potomac Electric 6% pfd.—3 at 112, 6 at 112, ‘Washington Gas 6s ‘A"—8$500 at 102% columbh Sand & Gravel pfd—10 at w-anfnmn Ruy. & Eleo pld—20 at C] pfd—10 at | > 98Y,, 30 at 98V, Potomac _Electric 5t 109%, 10 at 109%, 30 at Too. Bid and Asked Prices. BONDS. % PUBLIC UTILITY, . & Tel. 4%s 39 m. Tel. & Tel. ctl. tr. 5s. st & Pot. R. R. 5s t] l. . B8 c o, 96, ... ClDllll 'hlctlen R R. 5s. | City & Suburban $s Georgetown Gas, 1st 5 Potomac In most cases these losses were | ot The high-grade foreign | Received by Private Wire Direct to The Star Office FINANCIAL | | (e sone BONDS oo wxemnver] [BANKRUPTCY. LAWS (Sales Sales. %= 32-47.. 19 102 2 Inland St 4%'s Int Rap Tr sta '66. . 7 102 23 10216 102 23 lntFlD‘l‘rha...‘ ..'l l' R z-!’nl 55 2027 99 13 99 849 I s:*! 40- US3%s41-43, .,406 100 10 99 31 100 3. 150 101 20 101 8 101 8] Int Hydro El 4. 2 67 101 16 101 6 101 6| Int M Co 5s rer'41.. U S3%s43-47..187 101 16 10110 101 12| Int Match 5547 .20 104 5 104 101 106 12 106 . 92 110 13 109 26 109 28 :n! Pap s . Low. Close. Tus 41 47- Sale: ADitibé P&P 58’53 Alleghany €p Allegheny b Allegheny bs ‘50, Allis-Chalm 58 %S Am Intl5%s 49, Am Metal 5%s'34. . Am N Gas 6%s "2, Am S&R 1st 58’47, Am Sug Ref 65 '37. AmTATey 4%s AmT&T 5865, ... Am T&T c tr 5s "46. Am T&T 6s s £'60.. Am T&T 5%5'43... 6. Am W Wks 55 '34 Am Wat WKs 6s 75 Am Wr Pap 6s'47., {Arrentine 5135’6 Argentine May '6 Argentine 6s Ju’ Argentine 6s Oc’ Argentine 6s A Argentine 6s B 58, Atchison gn At Gulf 5s . Atl Ref db 55°37. Australia 4%s " Australia 5s Australia 5s'57 Austria 7s 43 Austria 78 57 ctf: B&Ods'48. B&O4%s"33 B&Ocy 434560, .. |1 &0 15t 5548 B &0 Swdv Fs'50. Bk of Chile 68 '57 Bk Chile 63 '61. Bell Tel PnSl B43 Bell Tell Pa 55 C'60 B Ind Loan C 63 '46 Berlin Cy El 68 5. Berlin C E 615 '50. Beth Stl pm s 36 Beth Sti rf 5138’42, Bolivia 75 '58 Bordeaux 6s 3 Bost & Me 4% 561, Bos & Me 58 '55.... Bos &Me b8 67, Brazil 61 Brazi) 6% Brazil s... Brazil 8s "41 Bremen 75 '35 Bklyn Elev 6% . Bklyn Man 6s ‘68 Bklyn Un 1st 6550, Canada 45 '60. . Canada 4%s ‘36 Canada 5s | Crn Nor 8% s db 46 | Can Nor 7s db 40 Can Pac db 4s. Can Pacific 43546 2 Can Pac 4%560. .. Clan Pac 58 '44..... Can Pac §s ‘54 Car Clin & 0 6 Cent Pac 45’4 Cent 58 "6/ | Cert-td db 5% | Ches Corp 55747 C&Ogen4%s's C&O 4%sA'0} C&O4%SB'% CR&Qgen 4558 C B&Q 15t rf 5571, | CB&Q 11 dv 335549 Chi & Est 11l 55’ Chi Gre West 45'59. 73 C M StP&P 58 '75. . 135 | CM&StPadj5s..143 ChiRI& P rf 4834 ChiRTev43%s'60 ChiRT&P4%s 'l C & W Ind en 4’ C&WInds% - | Chile 6s '60. Chile 65°61. Chile 7s " | Chile Cop d CC&St L 4 %3 E'T1 Clev Term 4%s ‘77, Clev Term 58 '73. | Cologne 615 i+ | Colomb 65 Jan '8 Wash: Ruy.*% Hec. % MISCELLANEOUS. | Barber & Ross, Inc. Chevy Chase Club 513 Columbia Country Clul per M . 65 M. Cold Storage 5 STOCKS. PUBLIC UTILITY. & Tel ) .. . Rv Elec. . Rws " NATIONAL BANK. Capital (14) Columbia (12)" sy TRUST coMPANY. Amer. Sec. & Tr. Co. (5. Continental, 7 'mm @ .. Natl. Sav. & Tr. (123}, Brince ucouu BE. & Tr. Union Trust (8s). Wash. Loan & Trust (14) BAVINGS BANK. ank of Bethgsda (64) ommerce & Savings (16 East washington (1).. Sec. nd aehingion n's National' Union’ (18 TITLE INSURANCE. Columbia (6h). Reai Estate (6h) Aig geclared. 1214 E‘mx Sl . Co. BY Gal. Col Bisl” R ..- oid. ), Mmu—utmnn Stove deficit year h'"' income | Mer ended June 30, sm “’ R 998 vs. net. Onhunt & Arizona Mining reduces miners’ 9. 5 "‘lfl 1 per cent, effective mumut.bnnl Agricultural $7 prior June 30, 56 cents vs, ua'“ New York Central Railroad workers permitted to cansl stock s returning payments plus 4 per cent in: Mer. lseenuneummon#f year ended | Wash. extr: Northern Pacific Railway A"M net. -{'u extra. income off 429 H :filmmflu ol!nvoy-rum. 6 sales off 3.3 September =« ley, aged 81 -A_.~..__...._ ll.udl oldest la- Colomb 6561 Oct.. . | Colon Oil 65 '3 . [ Colo & Sou 44535, Colo & Sou 4135 Col G&E b5 May’ Col G&Frcou 58 | Com Inves 5%s '4 CC Md 1st rf 55'50. Con G NY 4%5'51.. Con G N Y 5345 '45. Con Pow Japan 7s. Cuba 5% '45. Czecho 85 '51 | Del & Hud rf 4 Denmark 4%s Denmark 6s 4. D&RG W 55’55, DRG&W 5578, Det E G&R4% 61, Deutsche Bk 6532, Dodge Brel 6540, Duquesne 43 = '67. Dutch East I Ma Dutch East I N Dutch East I 6547 Dutch East 16 East C Sug 7737 Krie con 4% A 753, Erie gen 4s. Eriecv Erie 587, Fiat 7s war Finland 6s'4 Finland 6%s Finland 7s 50 Fisk Rub 8s'41. Fla E Coast 58 Fram 1 D 7% French 7s "4 French 7%s Gen Motors 6s Gen Th Eq 65 '4! German 5%5'65 German Bk 6338 . Ger (en Bk 65°'60 J 31 Ger Cen Bk 6s'600 18 German 61850 .. German Ts rep '49. 148 German Bank 7s'50 37 Ger Gen EI 75 '4! Goodrich cv 6s * Goodyr Rub 55’5 Good 15t 61547 GrandTr sf db 6536 Grand Trunk 7540, Grt l\nrln Bles Grt Nor gn 7s '36. . uz Greek 63 °68. Humble O1) 55 o Humble O 51832, | Hungary 1% '44.. 2! 111 Bell Tell 55 il Cont 4u 88 111 Cent rf 111 Cent flfi 11l CCStL&N % 111 COStL&N 6s A Inland St 4%s A'T8 104 106 Int MM eol tr 6541 Tnt Pap 53 A 47 Int TET cv 4353 42 rmr&’rna'?& 53 |Italy 7s°51. e Italy Pub § 75 33 | apanese s4a 708 96% | Japanese 6155 54 551 | Jugosl Bk 7s Kan CR(saM n City Son n City Sou 58’50, n City Ter 4s'60. Kresge Found 6s'36 105 | Kreug & Toll 55'59. Lac G St L bs84... 10 | Tacleds 5135 b '60 93 * | Lautaro Nit 6x '54. 44 |1eh Valev 4s 2003, " T.eh Vendyn 00! 4 Lig & Mvyers bs LI & Myers 1844+ 15% | Loew's s ex w41, s | Lorillard bs '51. 45 | Lorillard 53337 57 | La & Ark 55760, 941 | +& N nni 4540 1065 | Lyons 63°34. . 95 | MeKes & R 514 95% | Manh Ry 1st 4590, 43 | Market St 7s°40.. 100% | Mex 45 astd 191045 38 | Midvale St 55 '36 42% | Milan 6145 '52 42 | MIIERy & L s 100 | Mil E1 Ry&Lt 55 71 55 | M StP&SSMen 4s.. MK &T 1st 4590, MUIMK&T 48 B 62 943 | M K & T adj 58 '67. 62% | MK&T prin 104% | Mo Pac gn 45 '75. 83% | Mo Pac 53 A " - P BNERmn—ane “a.n?s_.fl" SRR an=8 Mo Pac 5% A 49 Mont P db 5s A '63. Montevideo 7x 52 Mor&Co 1st ¢34 at Dairy 5% s 43, ug etherlands s N Eng T 15t 58 " fg;:us.s 100% | 2 M 5% 54, 5 101% | NYCgn3yser Y% 10 | N Y Cent 4398 81| N Y Centdb 4 15 | N Y Cent 4352013, 99! \'f‘nrux-*ou 84 | NYCrfim 5x 2013, 89y | NY C&StL 4% 575, 87 | NYC&StL514sA'74. 17 |NYC&StLés" 19 |NYFRaisteyesi, 17 |NY ELH&P 4549, 26% | NY NH&H 334556 41 INY NH&H 413 36% | NYNH&H e)t surd. 93% | NYNH&H cd 65'48. 3, 104 |NYO&W 1st 4892, 30 INY Tel4s'39 104% | N Y Tel 6541 9414 | N1a Sh Md 5% s '50 91% Nord 6%s 5 905, No Am Co 51 ‘61 89 | Nor Am Ed 5s 891 | Nor Am Ed fs 90 [ Nor Am E 53 941 | Nor O T& L 65 '47. 94 - | Nor Pac 33 2047 9315 | Nor Pac 4s ‘97 79% | Norway 5155’65, Norway 6343 Norway 6s'52 Orient dev 5% s°58. Orient dev 68 '53... Penn gen s 'l Penn 645'36. Penn PaL 4% Peru 6s 60 Pern fs 124 Peru s ‘59 Phila Co 55 *67 gg:z I Phila Eiec 48 '71. 98% Phil & Read 65749, 106 Philippine R 45'37. 37 Phillip Pet 54, = '39. Pillsb F' M 6343, 26 Pirelli 7s 52 0 PCC&St L 5s 9 Poland 6s 40 Poland 7s'47... 6 S0 | Potand Por RAm T 6s'42.. S 101 | Pos Tel & C 5553, . 106 | Prague 7%s 's: Pressed St C 55'33 . Prussia 65'52. 14 | Public Serv 45 71 1045 Pub Sv G 4% 67, Pub Sv G 4%x70. Pure O11 5%5837.... Queensiana 6347, . Queensland 7s "41. Reaa gn 4%s A 'H. Reading +%s B '97 Rem Arms 65 A 37, Rem R5%s A '41., Rhinelbe Rnine West 5 100! 28 76 234 1% 923 53. Rich Ol Cal 65 ’44. | Rio de Jan 8s'48. ., | RGr Do Sul 65 '68. R Gr Do Sul 8546 Rio Gr W elt 4 RIAr&L 4} Rome 61485 Roy D 4545 ww StL IM R&G 45'33. 35| 8t L&SF in 45 4 50 I |StL&SF4tis 8. 8% | stLasF p15s B '50 StSWends'S StLS W 58’52 Sao Pau 78’40 rcl.. Sao Paulo 8536 a0 Paulo §s'50. .. 2 on P W 6%s51. Saxon 78'45. . Seab A L rf 45734 Seah A Lcv 5::: Seine 75 '42. bs-Cr-S1 7s :;'6 Serbs-Cr:S1 & 0 |Shell Un'Oll 5347, Shell Un O1l i * Sinelair Of] 634538 Sine O 78 cv A '37.. Sinc CrO5%s'3 Sine P L 58°42 Skelly Oil 5% '39. 10155 | Sou Bell T&T 6s 41 2% | W Bell T5n A 54 28 2 102% 5% 7l 100 101% i 484 81 6715 62 /3% 41 0% 66 6615 ush 100'& 101 lll% lll!i 96% 1023 103 20 48 51 93% 82% 101% 30% 100% 101 29 8315 5 4% 1!’, 90 101 102 AMENDMENT URGED Cofigress May Give Some Thought to Changes in Present Legislation. BY WILLIAM BRUCKART. ‘There is a strong likclihood that the forthcoming session of Congress will give some attention to amendment of the bannruptcy laws: at least, it is going to have a chance to consider some questions in that connection. In these troublesome days, when the economic way is strewn with the wreek- age of so many corporate and individual businesses that were unable to with- stand the strain of the two-vear dee pression. increasing attention is being attracted to the plight of the creditor. Indeed. it is made to appear from facts and figures assembled by Federal spe- cialists that the creditor is a creditor in_name only in too many Instances. le Federal figures and the facts to buttress them may be said to be only .mnuuu. they reveal, nevertheless, the creditors’ equities melt away as~ u:e receivers fail M realize for them only & paltry amount of the original investment. Variety of Assets. ‘Whether the Department of Justice vul make any recommendations to Con- on the subject has not been de- ,wrmmbununbemgumedwdnw. some circumstances it might be t the Attorney General would take the initiative llld present me subject to Congress. This course, however, seems unlikely at the moment. Almost daily Federal judges are naming recelvers to conserve the assets of bankrupts, but these receivers, ac- cording to official information, often construe the present statute so rigidly that they succeed in obeying the law and in realizing little from the assets at the same time. For example. it was pointed out that thousands of busi- nesses that have gone bankrupt under the stress of the last two years have owned trade mlrlu. hnnda tocmulu. patents and good will embodied in ! name of the concern melt ‘These A creasing the for distribution to the creditors. nmher, it ku‘p‘;‘ed m"}\o‘f? many petitors Ty m- Ial'm mem assets of the bankruj estate as represented by stocks of buildings or other unnble rroperty, the opportunity to take over the mhu inherent in a trade mark, ot a brand, or a liquid asset of that sort would be welcomed. These are things on which, it has been found by the Federal Trade Commission, banks : i (comlnu 1931.) WORLD WHEAT CROP ESTIMATED LOWER By the Associated Press. lg‘:'l'A'A sew:mt;e’rl 24.- —Wmuld‘ wheat production in 1931, exclusive Russia znd China. is estimated to be 325,000,0008bushe!s less than in 1930, in a statement issuzd by tl’e Dominion reductions in acreage, the statement m explained. 9615 102% 103 80 53 51 9315 931 8 RESERVE BANK WILL RAISE DISCOUNT RATE Special STipatch to The Star. NEW YORK, tember 24.—The New York Pederal rve Bank may lnueln its mrglsu;u?} rate f!fll"!l the low of 11; per cenl r cent at the directors’ mem'flu afternoon. Wall Street is pre- red for the increase, which it hns learned definitely will come with- out fall in the next fortnight if not today. . High. Low. Clase. 105 104% 108% 23 9 93 Tenn Ei P 6s A ™ Ter AsSt L 4s'53.. 1 Texas Corp 55 '44. . Tex&P 1st 55 2000, Tex & Pac 5s B'77. Tex& P5sC'79... 10 Tex & P35 D'80. .. Third Av rf 45 '80. Third Av adj 5560, Toho El Pw 6833 Toho El Pw s '5i Tokio 5%8'61....% Tokio El Lt 63'53. Un Pac 18t 4347 Un Pac 4s Un Pac rf 4s 2003, . 67. Uruguay 8s Utah P& L Util Pw bs * Util Pow 51847, :'lnadlum St 5841 Va Ry Ist bs ‘62 Wabash 4% 7