Evening Star Newspaper, September 25, 1931, Page 14

BUSMAY SUPPLANT | STREET CAR LINES Interurban Coimpanies Have. ;o i Reported Sharp Decline £ in Revenues. BY GEORGE E. DOYING. It may prove to be cheaper for mu- nicipalities to subsidize street railway operation than to attempt to solve the motor vehicle parking and traffic prob- lems which are becoming increasingly acute, it is suggested by the Wisconsin Public Service Commission. Apparently it will be necessary to do something about the interurban electric lines also, judging from a statement of 1930 decreases just issued by the Inter- state Commerce Commission, showing the abandonment during that year of about 10 per cent of the 1929 mileage, a decrease of $17,000,000 in revenue and a drop of 100,000,000 in the number of passengers. Fare Application. The solution may lie in a complete transition from rail service to motor busses, it was suggested in an applica- tion filed with the Interstats Commerce Commission by the Wheeling Traction Co., operating an 84-mile electric line | between Steubenville, Ohio, and Wheel- ing, W. Va., in which petition this sub- sidlary of the West Penn Electric Co. asks permission to keep in effect the Jow passenger fares under which it has been operating since last March. Despite extensive improvements in its service and reduced fares, the Wheeling Co. is in a precarious condition and there is a serious question whether it can avoid a receivership, the commis- sion was informed. The Wisconsin commission, howevcr, points with pride to progress made by the Milwaukee Electric Railway & Light Co. in its Milwaukee street car service and announces that experiments with weekly passes and other devices have enabled the company to hold the decrease in business during June and July to 5.1 per cent, while losses in other cities were recorded as follows: Detroit, 19.5 per cent; Cleveland, 15. Indianapolis, 12.3; Baltimo; ; Cin cinnati, 11.4; Pittsburgh, 15. apolis-St. Paul, 10.7 per cent. “It is hardly too much to sa: the Wisconsin commission, “that these utilities have come to bc regarded as moribund in cities of 2 minimum traf- fic density. Their owners and operators seem to have taken a fatalistic view, indicating by their conduct that they feel powerless to change the riding habits of the community, and fhat it can only be a matter of time until most of the survivors will also be overcome by the persistent tide of red figures. In the very teeth of the competition of motor vehicles most of the managers have resorted to the largely ineffectual cxpedient of rate increases and to su- ficial operating economies. | “It may be, however,” it was sug- gested in the ‘Wisconsin oplnlogln by Commissioner David E. Lilienthal, “that the pendulum has swung as far toward individual urban transportation as it may, and that considezations of con- vVenience and cost will soon force a greater reliance upon the street and electric raflway.” Investment Decreases. The investment in road and equip- ment of the electric lines reporting to the Interstate Commerce Commission ¢ ased 155,000,000 di 1930, ey i ted decreased 10,076 . de- z:‘l.':ll‘;lefl by $14,000,000 along with a revenue decline of $17,000,000. Divi- dends paid in 1929 amounted to $25,- 281,476, while in 1930 they decreased to $20750,216. The number of employes dropped from 4707 to 38,769, their tion showing a corresponding m‘flfifll $77,250,693 to $66,857.961. The number of es operated by these electric lines also showed a de- crease, having from 1,008 in 1929 to 755 in 1930. (Copyright, 1831.) Gt Discount Rate Increased. PENHAGEN, Denmark, September 2503?).—m Danish discount rate was increased today from 4} to 6 per cent, effective tomorrow. INVESTMENT TRUSTS YORK, semkflm' 25 P— Over-the-counter market: St Aasd, All-Amer Invest . 51 8 Amer & Cont Col & Gen Bec ! & Gen Bec & Gen Sec 33 pi. Br & Con 6 Comp Trust Founders nders war, Foungers 1-40th Ins Stocks. ... ol d 1) ed helsea Chelsea Exchange Cumulative Trust orporate Trust .... Srum & _Foster Crum & Foster Ins Depos Bank Shares N Y, Depos Bank Shr N Y “A Depos Ins Shares A Diversified Trust.Ag Diversified Trust Diversified Trust Diversified Trust Eaquity Invest Eauity Invest waSES! o1 o 8RoueSs Pund v - Find Trust Snares B..0l General Bauity A....... Incorp Investors .. Incorp Investors Eauit Independ Trust Shares.. Lsaders of Industry Low-Priced "Shares Malor Corp Shares Mass Invest Trust Mutual Inv Trust A Ol Shares units 3 Old Colony Inv ‘Trist Qld_Colony Trust Assoc Petroleum Trad A.... Public Sarv_ Trust Repres Trust. Shawmut Bank Bnencer Trask R 106% 27% A% 20 12% 39 19% 367 720 18% 40% 13% 2 12% 18 29 217 11 90% 57 60% 19% 5% 6% 583 16% 55 Received by Private Wire Direct to The Star Office. (Continued From Page 1 Stock and Dividend Rate. 3% McLellan Stor 18% MackTrucks (2).... 62% Macy(RH)& Co(n3). 8% Magma Copper (1).. 1% Mallison & Co. 10% Mallison & Co pf. 214 Manati Sugar pf.... 12 ManhatElev mod gtd 1 Maracaibo Oil Exp. . 14% Marine Midld (1.20). 8% Market St Ry pr pf.. 1234 Marlin-Rockwell (2) 2 Marmon Motor Ca 141 Marshall Fleld (2 Mathieson Alkilf (2) May Dept Strs (23%). Maytag Co pf (3). Melville Shoe (2) Mid Continent Petm. Midland Steel (3)... Midland Steel pf (8). Minne & Hon Reg (3) 4 Minn Moline Pow Mo KKan & Texas. ... Mo Kan & Tex pt (7) Missouri Pacific Missouri Pac pt Mohawk Carpet. . 4 Monsanto Chem (1% s Montgomery Ward. . Morreil (J) & Co (3). i Mother Lode. . Motor Meter G & El. 18% Motor Products (2).. Tk Motor Wheel (1). 8% Mullins Mfg. 30% Mullins Mfg pf (7). 614 Murray Corp 16% ash Motors (4).... Nat Acme Co. Nat Bella Hess. .. Nat Biscult (2.80). .. Nat Dist I'rod (2) Nat Lead (5). Nat Lead pf A Nat Pwr & Lt (1, i Nat Steel (2). Nat Supply Co Nat Surety (2). Nat Tea (1). i Neisner Brothers. ev Copper (80c) Newport Co (1)..... Newport Co (A) (3). 3 Newton Steel. 3% N Y Shipbuilding. 110% N Y Steam 1st pf( 13 Noranda Mines. 123 Norf & Westn (112). 4% North Am Aviation. 41 Nor Amer(b10%stk) 48 North Amer pf (3). 23 Northern Pacific 3 6% Ohilo O11. 1 Oliver Farm Eq % Omnibus Corp. . 25 Otis Elevator (2%) 4 Otis Steel... 42 Outlet Co (4). - 251 Owens 11 Glass (2) 1% Paeific Coast 2d pf. 34% Pacific Gas & El (2) 42 Pacific Lighting (3). 9% Pacific Mill . 5 Packard Motor (40¢) 24 Pan-Am Pet B (80c). 1% Panhandle Pro&Ref. 14% Paramt-P(m1.62%p) % Park Utah. 1% Parmelee Transport. 1 Pathe Exchange.... 3 Pathe Exchange (A). 4% Patino Mines. 25 Penick & Ford (1) 284 Penney (J C) (2.40). 95 Peoples DS pf (6%) 250 146 Peoples Gas(Chi)(8) 2% 10% 25% 102% T 28 Pere Marquette pr pf 4% Petm Corp of Am(1), % Phelps Dodge (1).... 81 Phila Conew (6).... 9 Philip Morris&Co(1) 12 Phila Rap Trpf3%.. 4 Phila&ReadingC&1 42 Phillips-Jones pt (7) 4% Phillips Petroleum. ., % Pierce Oil. 264 Pirelli (A) (m3.13). 12% Pitts Coal 40 Pitts Coal pf. 16 Pitts Term Coal pi 18 Pittsbgh & West Va. 5% Poor & Co (B) 5 8% Port Rig Am Tob(A). % Port R Am Tob (B).. 613 Prairie Ofl & Gas. 12% Prairie Pipe Line(3) 2 Pressed Steel Car. » 8 PETTS-I Pt Y- PRORE - - SO S TP e e PR Bales— Add 00. High. Low. Close. Chge. % — s Low. Dividend Rate. Net. 10 Shell Tra(m1.73 1-5 8 + W 31 — % 10% Simmons Co. ... 4% Simms Petroleum 6% Sinclair Consol Ofl. . 77 Sinclair Oll pt (8) 3% Skelly Oil...... 10 Skelly Oil pf ww. 13% Socony-Vacuum 1.60. 734 South Port Rico Sug. 33% Southn Cal Ed (2)... 7% Southern Dairies(A) 55% Southn Pacifie (6)... 17% Southern Rwy (mé). 18 Spalding (AG) (1). 4% Sparks Withing (1) 6 Spicer Mfg 20, ‘Spicer Mfg p 14% Stand Brands (1.20). 2 Stand Comel Tobacce 38% Stand Gas&El (3%). 421, Stand Gas&El pf (4). 75 Stand Gas&El pf (6). 31% Stand Oil Cal (h2%). 99% Stand Ofl Exp pf (5). 30% Stand Ofl NJ (12). ... 9% Starrett(LS) (12%). 3 Sterling Secur pf. ... 22 Sterling Sec cv pf(3) 4% Stewart Warner 16% Stone&Webster (m2). 10% Studebaker Co(1.20) 30 Sun Ofi (f11).... 94 Sun Ofl pf (6).. 20 Superheater (23) 6 Superior Steel. . 11% Sweets of Amer (1). 16 Telautograph (1.40). 3 Tennessce Corp Corp (2). ulf Sulphur(3) 2% Tex Pacific Coal&Oil 6 Tex Pacific Land Tr. 5 Thatcher Mfg Co.... 28 Thatcher Mfg pf 3.60 12 The Fair (2.40). 2 Thermoid Co. 5% Third Avenue. . 15% Thompson (J R) (1). 7% Thompson Prod 1 20. 2 Thompson Starrett. . 223% Thomp-Star pf (3%) 4 Tide Water Asso Oil. 281 Tide Water As pf(6) 48% Tide Wat Oil pf (5). 4 Timken-Detroit Ax] 25% Timken Roller B(2). 1% Tobacco Products. .. 8 Tobacco Prod A t95c. 4 Transamerica (40¢). 5% Transue & Williams. 4% Tri-Contl Corp. ..... 67 Tri-Contl Corp pf(6) 274 Trico Products(2%). FER RS X ) FREFRREFR | - 4 _Twin City Rap Tran. Ulen & Co. ... . Under EIl Fisher (4). Union Bag & Paper. . Union Carb & (2.60). Union Oil of Cal (2). Union Pacific (10).. Unlon Pacific pf (4). Un Tank Car (1.60).. Unit Afreraft....... Unit Aircraft pf (3). Unit Am Bosch. Unit Biscuit (2) Unit Carhon. . 4 Unit Cigar Store: Unit Corp (75¢). Unit Corp pf (3) Unit Electric Coal Unit Fruit (4)...... Unit Gas&Im(1.20). 9815 Unit Gas&lm pf(5). ;(7)74 Unit Plece D W (2). 6% U S Distributing. 3 US&Forn Secur. 10% U S Freight. 24 24% S Leather, Leather (A) Leath or pf (7). Pipe & Fdry (2). Pipe&Fy 1st 1.20 Realty & Imp(1) Rubber. .. Rubber 1st pf... S Sintg & Ref (1), Smtg&Ref pf 3% U S Steel Corpn (4). U S Steel pf (7). . U 8 Tobacco (4.40. United Stores (A) United Stores pf (4). Univ Leaf Tob (3).. Univ Pipe & Rad. . 9% Univ Pipe & Rad pf. 10 Ut P&L(A) et2.15. % Vadasco Sales Corp. Vanadium Corp. cdacoaacag annRLnn® w 60 31 71% 50 Va-Caro Chem pf (7) _T1%_32% Vulcan Detin (4).... 26 ~ 6 Wabash RR........ 27% 21 Waldorf Sys (13).. 15 3% Walworth Co. 27% 6% Ward Baking ( 8% 233 Ward Baking (B). .. 5T% 24 Ward Baking pf (7). 4% Warn Bros Plctures. 10% Warner Bros pf 3.85. 1% Warner Quinian T Truscon Steel (60c).x 1148 1 1 150s 16 11 5 47% 13% Pressed Steel Car 1% 45% Proct & Gaml #2.4¢ 112% 107 Proc &Gamb pa (61, 6 1% Pro & Refiners . 96% 60 Public Sve NJ(3.40). 102 95 Public Sve NJ pf (5) 120% 107% Public Sve NJ pt (6) 107% 99 PubSvcG&Epf (5). ' _58% 22 Pullman Corp (4)... 11% 5% Pure Oll, 101% 66% Pure Oil pf (8). 55% 14% Purity Bakeries (3) Radio Corp. Radio Corp (B) (5).. Radio-Keith-Orph A. Raybestos-Man 1.60. teading RwY (4) ..o Real Silk Hostery Reis (Robt) & Co... Reis (R) & Co 1st pf. Remington-Kasd. . . Rem-Rand 1st pf-{7) Rem-Rand 2d pf (8). Reo Motor Car(40c). Republic Steel Republic Steel pf. 7 Reynolds Metls(1%) 39% Reynolds Tob B (3). 1 Richfield Ol 2% Rio Grande Ofl. 12% Rossia Insur ( 13% Royal Dich(m: 15% Kutland RR p 8% Safeway Stores (5) 85 98 Safeway Strs pf (7). 11% St Joseph Lead (1). 8 StL-San Francisco. . 4 SchulteRetail Stores % Seaboard Air Line pt 8 3eaboard Ofl........ 42 Sears Roebuck (2%). 1% Second Natl Inv..... 33 Second Natl Inv pf.. % Seneca Copper 4% Servel Inc 4 Sharon Steel Hoop. . 5% Sharp & Dohune. .. .. 12% Shattuck(FG)(11%) E R FSERFES 120 443 12% 19% 14% 150% 36% 107% 119% 28 40 26% A% 10% 30 8 56Y 3% - 10% b1% 72% 106% 27 80% 30 15% 76 29 78 14 - N ALt 'Lw"-i =¥ +11 - ¥ * =¥ 5% Warren Bros. . 17% Warren Bros cv pf 3. 1 Wells Fargo 12% Wesson Oll&Sno(2). 85 West Pa Elec A (7).. 84 West Pa El pf (7) 1 113% 103% West Pa Pwr pf (6). 13 West Pa Pwr pf (7). 16 Western Dairy (A) 4% Western Dairy (B).. 7% Western Maryland. . 4 Western Pacific..... 94 “Western Union (8).. 17 Westinghse A B(2). 44% Westinghouse (235). 692 75% Wsthse EM 1st m3% 20s 8% Weston Elec Instru. 12% Westvaco Chlor (2). 10% White Motors....... 25 White Rock (t414).. 3 White Sewing Ma pf. 20 Wilcox Rich A (23%). 2 Willys-Overland. ... 21 Willys-Overland pf 1 Wilson & Co..... 2% Wilson & Co (A 21 Wilson & Co pf. 50 Woolworth (2.40).., 256 Worthington Pump. 9 Wright Aeronautical 661 Wrigley (Wm) (4).. 17% Yale & Towne (2)... 5 Yellow Truck, 29% Yellow Truck & 14 Young Spr&Wire(2). 26% Ygstwn Sheet&Tube. 8% Zonite Prod Corp (1) 2 190s Aad 0. High. Low. lose. © 10 10 —% BONDS RREGULAR IN LIGHT TRADIG Pressure on Canadian Rail- way Issues Causes List ' to Waver. BY F. H. RICHARDSON. * | Spectal Dispatch to The star. NEW York, September 25.—Bonds were irregular egain today. Liquidation was in somewhat smaller volume and there were evidences of support in the speculative rail group, but the de- clines far outnumbered the advances in the general list, both foreign and % | domestic. The list was steady at the opening and had a firm tone in the first hour, when stocks were strong. Money rates were tighter, though 90-day loans did not show any tendency to advance above the 2 per cent rate. Wall Street, because of the action of the Federal Reserve Bank in maintaining its bill buying rate at 1 per cent on Thursday in the face of an advance in the open market rate, was Ssposed to believe that the rediscount rate will not be changed this week. United States Gov- ernment bonds, as a result, were from 6-32 to 8-32 higher before renewed liquidation checked their advance. The bond list turned downward with stocks just befcre noon, when pressure was exerted against Canadian railway issues. Canadian Pacific Perpetual 4s dropped to a new all-time. low, off more than 5 points on the day. Other Canadian rail issues were off from 2 to 3 points and Canadian government bonds were similarly weak. Canadian exchange continued to slide owing to the large drop in the dollar volume of wheat shipment and the absence of any compensating flow of tourist money into Canad: In the domestic rail list there was a better tone. Offerings in the sec- ond and third-grade issues were well absorbed and a few made small gains. ‘Among these were ri-Pacific General 4s, Nickel Plate 6s, Southern i o THE EVENING STAR, WASHINGTON, D. €, FRIDAY, SEPTEMBER. 25, 1931 NEW YORK STOCK EXCHANGE s 2-47 2-47 gagacagarep Abitibl P&P 5s'53 Ab & St 5% "43 43 Am W Whks 5534 Am Wat Wks 6: s Argentine 53s 62, Argentine May ’61. Ju's9. Argentine 6s Oc’59. Argentine 6s A '57. Argentine 6s B 58, 45 Arm & Co 4%8°39., 1 Argentin Arm Del 5% s *43 Assoc OH 65'35. . Atchison gn 48 '95. Atchiscv 4% 8 '48 s 5. Australia §s ‘57, Austria 7s'43, Austria 78 '57 ctfs. Sales. High. Low. 21 101 28 101 20 101 20 s41-43. 136 320 104 15 104 N— Grt Nor gn 6%s 52, Grt Nor gn 7s'36. 14 102 23 102 17 102 20 | Greek 52... Hoe & Co 6% '34. 60 101 35 10024 100 24| Fua & A e saas. 101 18 101 ;3} Humble O11 55 '37. 35 ' | Hungary, 7%s "44. ; 106 8 10431 106 ‘ 111 Bell Tell 55°56. . 118 @ Mo 20 A i anten Bales. Hieh. Zow. Close, | 1l Cent 43, * 1641 40 [ 40%([ll Cent 6355 '36. 94% | 111 CCStL&N 41 55% | 111 CCStL&EN 5s A 111 Steel 434540, .. Inland St 416s A'7S Int Rap Tr 5s66. 57% | Int Rap Tr sta 6 84 Int Cement 5s '4: 11% | Int & Gr Nor 6s'52, 100 |iInt& G Nad6s'52. Int Hydro El 6344, Int M Co 5s ret'41. 104% | Int Match 5s°47... 106% | Int MM col tr 6s 41 104% | Int Pap 58 A "47, 108 1IntPap 6s'55. 99% [ Int T& T 4% s 5. 92 | Int T&T cv 4155'39, 43 |IntT&T 5s'55. ... 45 |Ttaly 7s'51..... 45% | Italy Pub S 7 5 70 |Jugosl Bk 7s'57.. 574 | Kan City Sou 5s'50, 103 | Kan City Ter 4s'60. 96 |Kan G&E 41s°80.. 106% | Karstadt 6s'43.... 94% | Kresge Found 6536 42 | Kreug & Toll 55'59. gg’u Lac G St L 5s'34 Laclede 515 C'53. . 49 | Lake Shore 3357 o |Lautaro Nit 65 'Ga.. 100 | Leh Val cv 45 2003. Lig & Myers 7s'44. 92% | Loew’s 65 ex w '41.. 95 | Lorillard 5% 65 = 104 86% | Lou G & El 55’52, 97 |L&Nuni4s'0..., 95% | L&N 15t 535 2003, 70 |Lyons6s'3s....... Bk of Chile 6%s'57 15 | MeKes & R 53550 Bk Chile 6%s 61 Pacific 41:s, Western Maryland 4s, St. | Bel, 65 ‘55 Paul 58 and Chicago & Northwestern ’Bol::u‘"l: 0:5!’" 4%s. These advances were subsequent- ly shaded in a renewal of liquidation. | Belgium 7s’56... Industrials were heavy. United States | Bell Tel Pa 55 B ‘4! Rubber 5s sold at their all-time Icw.|Bell Tell Pa 55 C'60 Youngstown Sheet & Tube 5s were off | B Ind Loan C 63’46 Berlin Cy El 68 '55. Berlin CE 615850, fractiopzlly. The international group, includfng International Telephone, obli- gations, International Match 5s, eri- {can & Foreign Pow:r, and Kreuger & Toll 5s, drcpped from 1 to 3 points. Prime corporate descriptions were steady. The foreign list was distributed by a new low 11 sterling_quotations, the re- striction of 21l London trading to a cash basis, a condition so serious in Tokio that the exchange was-unable to reopen and reports that Sweden and Holland might be forced to abandon the gold standard during the day. SALES. Washington Gas 6s “A"—#$1,000 at 103. Barber & Ross 6'45—$1,000 at 77. Federal-American ~ National Bank & Trust—10 at 44%, 10 at 44%. Federal-American Co. com.—25 at 21. AFTER CALL. W:.s!;&ngmn Gas 65 “A"—$1,000 at 4. Federal-American Co. com.—5 at 21. Mergenthaler Linotype—10 at 72%, 10 . at 72, 10 at 72, 10 at 72. “| Potomac Electric Cons. 55—$1,000 at v | 104%5, $1,000 at 104. 10:30 A.M. 1:30 P.M. Dividend rates tion: 4% b payable in stock. n Plus 2% in stock. 3% in stock. 5. xEx-dividend. in stock. {Plus ALl ++ 1 13% cash payments based on the latest quarterly or half- sLess than 100 shares. e Payable in ca 1Plus 50c in special preferred stock. k Plus m Pald this year—no regular rate. stock. D Plus 2%% in stock. Sales of Stocks on New York Exchange. + 1,400,000 2,400,000 the annual 1y declara- tPartly extra. IPius Paid last year—no regular rate, or stock. fPlus 8% in stock. 400,000 12:00 Noon... 2,100,000 . siven in the above table a; in stock. nPlus 5% in CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, September 25.—The fol- lowing is a summary of important col poration news, prepared by the Stand- ard Statistics Co., Inc., New York, for the Ascoclated Press: Central Raflroad of New Jersey Au- gust net operating income off 60.3 per cent; elght months off 37.7 per cent. Maine Central Railroad August sur- plus after charges $32,732 vs. $123,024; eight months. $81,324 vs. $736,233. Pacific Northwest Public Service Au- gust electric sales (k. w. h.) up 103 per cent; 12 months up 2.9 per cent. Blaw-Knox Co.~—] ted to earn $1 per share full year; current assets Au- S nena SRR ;333;...::.. gust 31, $6,500,000, of which $500,000 B okeye Pl iine Avgust pipe lin uckeye Ipe e August e deliveries up 23.8 per cent; eight months up 27.1 per cent. Colorado & Southern Rallway—Ex- ted to earn fixed charges 1% times .lul-.mhu to approximate last year's showing of $1.05 a share, excluding profit on sale of securities, ete. Indiana Pipe Line August pipe line deliveries off 38.8 per cent; eight months off 51.1 per cent. Liquid Carbonic declared 50-cent quarterly common dividend; formerly paid 75 cents. Mohawk Mining suspends explora- tion work in Ontonagon County prop- erty. National Transit August pipe line deliveries up 19 per cent; 8 months up 1.6 per cent. Y Pittsburgh Coal cuts salaries about 10 per cent. Quincy Mining: Mining operations suspended, pending improvement in i per cent in first 8 months. Southern Pacific Co. August net op- erating income off 46.6 per cent; 8 months off 39.3 per cent, ‘Western Maryland Railway August surplus after charges off 62.5 per cent; 8 months off 50 per cent. Amoskeag Manufacturing: Cuts workers' rents 10 per cent; company recently cut wages 10 per cent. et no conf policy o . # - Superior deficit, six months to June 30, 81,051,741, vs. deficit $180,033. United ' Verde Extension Mining— Operations to be resumed October 1 fol- lowing Summer shutdown. Copeland Products’ August consoli- dated sales up 43.7 per cent; net in- crease for fiscal year to August 31 up 21 per cent. Merchants & Miners' Transportat] net holds to 1930 levels: gross ‘gfr' sharply. Alabama Power August gross revenues off 0.5 per cent, net afier taxes off 10.3 per cent; eight months’ gross off 0.6 per cent, net after taxes off 6.5 per cent. Georgia Power August gross revenues off 3.5 per cent, net after taxes up 9.6 per cent!; _.tlgnh!‘t m:ntlu‘ gross off 3.6 per cent, net er taxes off 19 cent. u?‘.ood:lc;no g; P.D'Oo',—mnn‘t’:roper- al al cent of capacity, o Gucing 24,000 tires datly, T ' DT FOREIGN EXCHANGE. (Quotations furnighed 'I:‘blil Wi B Hibhs & co) London, pound. Paris, {ranc Brussels, _beig: Washington Rwy. & Electric pfd.—10 at 9874, 10 at 9874, 20 at 98 Washington Gas 6s “A"—8$100 at 102%. | Washington Gas 6s “B"—$100 at 104, Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Tel. Am. Tel. & Anacostia & Pot. R. Al tia_ & Barber & Ross, Inc., 6% Chevy Chase Club 3%s Solumbla Country Club D, C. Papér Mfg. 6s Cold Storage 5. STOCKS. PUBLIC UTILITY. Amer. Tel. & Tel. (9). Capital Traction Co. (4): ash. Gas Lij Eot. Elec. P Pot. Elec. 3% Pl Wash, Rwy. & Elec.om. (7 Wasil Rwy. & El ptd. (5). NATIONAL BANK. Gapital (14) Columbia ~(12) Commercial (stimped) (i0): District 3 () Fed.-Amer. Ni Liverty (10 Lincoln (12) Metropoliti Riggs (15s) . Second (9e).. . Washington " (13) " : _TRUST COMPANY. Natl. Say. & Tr. | Prince Georges Bk. & Union Trust (85)... Wash. Loan & Trust (14). SAVINGS BANK. Bank of Bethesda (6§). ving Wash. Mechanies (20) FIRE INSURANCE. American (12) Gorcoran (10} National Union’ (18) TITLE INSURANCE. Columbla_ (6n).. Real Estate (6h). MISCELLANEOUS. Barber & Ross, Inc., com. mer, Bromo-Selz, Federal Storage pid. (8) Fed.-Am. Co. com. (1. Fed.-Am’_Co. pfd. Lanston Monotype (7) Mer. Tr & Stge. com.’ (10)" Mer. Tr. ‘& Btge. pid. (7). Mergenthaler Linotype' (6) Natl Muge. & Inv. btd, (8}, Peoples Drug Stores pid. (6 Real Est. M. & €. ptd. (8 4% 8% s TIME MONEY LOWER. By the Associated Press. Tinfe money weakened last week as its change was measured by the Com- merce Department, but call funds re- maired unchanged. In the totals that follow the average is given for classes of funds at centers: Time, Call Week ended September 19.. 1.50 1. Previous week. ... 175 ;:g 325 TREASURY CERTIFICATES, xtra. extra, ella% extra. Washinuton?fock Exchange | Bélgium 75’55 Beth Stl pm 58 47, Bordeaux 6s "34. Bost & Me 4% '61. Bos & Me 68 '65. Bos &Me s '67. Brazil 6% '26. Brazil 6355 27 Bklyn Un 5. Buenos A 6 Budapest 6; Bush T Bldg 55'60 Canada 4s "60 Canada 4% . Canada 5s '52. .. Can Nat 415s54... 1 Can Nat Ry 4%#8'56 b Can Nat 4%s 57 Can Nat 4%s 68 Can Nat 43%s 55 Can Nat 6s July' 2! Can Nat 5s Oct "69., Can Nat 55 70 Can Nor 4148 '35 Cen Nor 6355 db "46 Can Nor 75 db *40. . Car Clin & O 55’38, Cent 111 G&E 55'51. Cent Pac 45 '49, Cent Pac 55 '60 Cen Ry NJ g 5587, Cert-td db 5 48 Ches Corp 55 "47. 2 C&Ogen 4%s C&O 4%sA'93.. 8 6. 535842, t 75 2% | Marseille 6s '34. 32 Mex 45 astd 1910°45 108 | Midvale St16s 36, 198 | Milan 6%s"52. . 55 Mil ERy & L 5561 Mi) El Ry&Lt 5571 30% | M StP&SSM cn 4s. . 13 MK & T 1st 4590 133 MK & T adj 5567 MK&T pr In 5sA'62 8 | Mo Pac gn 4s 75 15 | MoPacss A es. .lgg% Mo Pac 5s F '77. Mo Pac rf 55 '81. e | Mo Pac 535 A 4. ¥ | Mont Pow 5s '43 19% | Montevideo 75 '53. . Mor&Co 1st 41 5'39 5 t Steel 55 '56 Netherlands Gs 72 . NOT&M5sB'54. NOT&M5is 54, Nw S Wales b5 '57. 7.. 4. . N Y Cent 435 2013 NY Cnrf 43%s 2013, 83% | NYC rf im 68 2013, 94 |N Y Centdb 6s'35. g;% NY C&StL 41878, 86 | NY C&St L 63'32. 88 |NY Edisnss B'44 85% | NY ELH&P 4s°49.. gfln NY ELH&P 55 '48.. 937 | NYNH&H clt 6s'40. 91 | NYNH&H cd 6548, 9515 | NY O&W 1st 4592 105 | NY Rys inc 6565. 102 | NY StRy 4%s'62 67 |NY Tel4%s s 758% | N Y Tel 6s"41..... 79 | Nia Sh Md 5 50. 83% | Nord 6% s ’B:I‘. 91% | No Am Co 55 '61 31% | Nor Am Ed 55 C 69 97% | Nor Am E 5%s '63. 107 |NorOT&L 46% | Nor Pac 45" or Pac r 1 61 101% | Nor St Pw s 10 ot A4l 90% | Nor St Pw 65 B 41, 94% | Norway s '6; 98 | Norway 5%, 90 |'Norway 6s'43. 19 | Norway 6s "44. 57% | Norway 6s'52. wnSonpBi8aalian 3 Chi M & StP 4%5 C. 10 81% | Ore Sh L 5s gtd *46 . v 3 CM&StP4% '89. Oreg-Wash 4s°61.. 38% | Orfent dev 6345768 2% | Orient dev Humble O 53%s°32.\13 15 . 5 Mo Pac 5s H '80... 4 NYC&StL5%8A’74. FINANCIAL Sales. High, Grt Nor 4%s'76 D. 1 71 @M NEW YORK BONDSS I Recelved by Private Wire Direct te The UNITED STATES. (Sales are In $1,000.) TOCK EXCHANGE' Star Office Low. Close. 71 7 9 90% 90 90 73 102% 4 54 6 2 43 1 22 1 7 22 38 36 14 3 4 16 32 57 4 246 42 Japanese 5145 '65.,.175 Japanese 6155 '54,.368 4 2 1 10 26 =t e - Sae Sa AR eSS e ada 15 32 119 1 9 5 1 8 5 2 4 1 5 2 1 4 1 Nyt Dairy 5%s '43. 222 Ni 13 65 48 101% 39 105% 56 98% J110% 101 102% 50 2 4 104 1014 101% 52 54 62 65 48 48 65 67% 88% 89N 85% 51% 51% 24% 1% T4% 73 64 63% 51% 69 61 90% 80 89 92 100% 102 39% 39% 4 4% 92% 921 95% 95% 221 22% 10t 101 58 58 98 92 82% 14% 4% 4% 123% 123% 91 91 91 91 10714 107% 39 39 10115 101% 95% 96 97 9T% 9% 99% 641 64% 43 43% 84 89 9% 99% 3 3 100% 100% 671 67 100 100% 100% 100% 43 43 Bl 61 82% 42 66 65% 65 65% 23 68% 831 98% 98% 98% 110% 110% 99% oL 50 1% .2 4 4 103% 104 1 10 1047% 104% 104% 1 102% | Nor & Wn cv 4s 96, aj 5 Chi&NW 438 2037, C&NW 43%sC2037. 8 Chi & NW cn 4%s. : 45 ChI&NW rf 582037 hi & NW 6%s '36., Chi RI&P gn 45 '88. 15 ChiRI&Prf4s'3s 9 Chi R Icv4%s'60. 11 CHiRI&Pil%s's: 3 Chi'T H inc 65 '60. , s I Y 4., Chi Un Sta 55 B '63. Chi Un Sta 635 '63. C& W Ind cn 4s'52. C& W Ind 5145 ‘62, Chile 65 '60 Chile 65 ‘61 Chile 65 '63 Chile 75 *42 Chile Cop d| Christiana 6s Clev Term 6348 75 . Cologne 6%s'50... 12 Colomb 65 Jan '61.. 15 Colomb 6561 Oct. . 26 Colon Oil 6s '38 Col G&E 58 May's2. 31 Col G&E cou 5861, 67 Com Inves 53%s'49. 31 CCMd 1strf 5s'50, 3 Con G NY 4345°51."135 Con G N Y 5%5°45. 55 Con Pwr Jap 6% Con Pow Japan s Copenhag 55 '52. T ITT 1= O AR Del Pwr&L 4%s71 18 Del & Hud rf 4s'34. 5 Del & Hud 5%8'37. 14 Denmark 438 '62,. 7 Denmark 5%s ‘55 Denmark 65 ‘42 D&RGren4s'36.. 3 D&RG W5s'85.. 3 Det E G&R4%s'61. 32 Deutsche Bk 65 '32. 40 Dodge Brcl 6s'40,. 11 Donner St 7542, .. Duquesne 4%s'67. 6 Dutch East I Mar., 12 Dutch East 1 Nov.. 25 Dutch East I 6847, 16 Dutch East I 6852, 42 East'C Sug 7% i El Salvador §5'48.. 4 rie 1st con 45 °96.. 20 rie con 45 A '53 Flat 7s war. Finland 6s 45. Fla E Coast 5s Fram 1D 7%s French 7s'49 French 1%s '41. Gen Baking 5%s'40 3 '37., 31 0 49 .1 68% 70% 55 76 102% 81% 814 57% 71 40 0% 91 95 25% 73 72 39% 30 100 102 9 93% 101% 73 86 86 9% 33 100% 79 834% 95 103% 92 23 95 94% 11 53 834 58 65 58% 58 8% 50 go .:~ 98%, 113% 118 40 42% 42 Pac G&E 5s 42 Pac T&T 1st 58 Pac T&T rf 6552, . Pan-Am Pet 6534, Pan Am Pet 6540, . Paramount 6s '47.. Paris-Ly M 6s '58. . Paris-Ly M 7s " Paris-Or 5%s Pathe Exch 75 '37.. Penn cv 4%s Penn gn 43 '6: » son SBrraloroalif teal @ S® Peru 6s'60. Peru 6s°61. Peru 7s '39 Phila Co 556 Phila Eiec 45 '7. - Phil & Read 65 ’49. Phillip Pet 5% s '39. Pillsb F M 65743, .. Pirelli 7s '5. P C C&SLL 55 A 70, Poland 6s ‘40 Poland 7s 4’ o BB eranB8Bnanag 1 Porto Alegre 8s'61. Por RAm T 6s'42.. Pos Tel & C 58’53 Prague 7%s '52 Prussia 6s '52 Public Serv 4s'71.. Pub Sv G 4%s'67.., Pub Sv G 4%s°'70., Pure Ofl 5%s°37.., Reaa gn 4358 A ‘97, Reading 435 B ‘97, Rem Arms 65 A '37, Rem R 5%s8 A "47 Rhinelbe 7s '46. . .. Rnine West 65 '52, . Rhine West 6s'53.. Rhine West 65 '55. . Rhine West 7550, . Rich Oil Cal 63 '44. Rio de Jan 6%s '53. R Gr Do Sul 65 '68. R Gr Do Sul 85 '46. RIAr& L 4%s'34. Rome 6343 '52 Roy D 4545 ww. .. StL IM R&G 4s'33. St L&SF in 45 A '50 StL&SF 44578, StP&KC SL 4%s'41 StLS Wbs'52.... San A & A P 4s'43. Sao Pau 7540 rot Sao Paulo 85 '36. Sao Paulo 855 Saxon P W 6%s'51. Saxon 7s'45. ! Seab A L 4s st ’50. . Seab A L'cv 65 '4 Seine 7s *42. . Serb, 49, Shinyetsu 645 '52. Sinclair O1l 6%5'38 s::n O7scvA‘3l.. 101 80 81 101 94% 95 89% 90 92 92 99% 100% 1045 104% 90 20% 97 98 10115 101% 106 106 87 8oy, 91% 92% 93 93% 92% 93% 92% 92% 101% 101% 87 87 80% 83% 84% 85% 102% 102% 105% 106% 106% 106% 101% 101% 2 2 72 12% 100% 101 99 99 100 100 1024 102% 1041 105 93% 94 104% 104% 81 84 81 8% 15 15 95% 96 95% 961 47 48 57 5T 102 104 96% 96% 100 100 41% 43 39 42 40% 46% TFE 16 16 445 44y 41 4L 98 100 29 83 96% 96% 102 102% 102 102 80 80 931 9314 89% 891 50% 51% | 33 7 49 49 81% 81% 50 50 3% 35 16 16 28 324 31 32 15 15 8 9 105% 105% 34 34 35 36 66% 67 36 59 5! 105 105% 106 80 80% 80% 8% 79 61% 62% KEEN AVTOSALES,; RNEISEXPECTED Interest of Industry Now Cen- tered on Prospective Model Changes. ~ —— BY DAVID J, WILKIE, ~ Written for the Assoclated Press. DETROIT, September 25.—With the trend of the sales and: curves almost entirely a mm Jecture, lnur'::um“the mo‘w'ut car in- dustry ' seem! largely absorbed with ml ive model changes and the probabilities of keener ition than ever in the low-priced fleld. 1t is one of the oddities of the indus- eep secret any lans an individual manufacturer may ve for changing the style of his - uct, always advance information out that a new model is in Sometimes the rumor comes out months in advance of the introduction of the new car, but always the changed model the Model A Ford. Rumors of the im- pending change in the car came a year in advance. Similarly, rumers of changes to be made in the current Ford model have been in circulation for many months, and while there has been no confirmation from thedm offices, there likewise has been no L The Ford Co. recently resumed pro- duction “after a shutdown of several weeks and continued the current model, with none of the rumored changes. It can be definitely stated that the shut- down period was not used for the re- tooling of the plant in anticipation of the changed model. Nevertheless, it is understood parts for the new car already t its introduction merely show a lengthened wheelbase, rear-end gasoline tank énd a few other minor changes, now is being talked doubtedly incl price range. * In some quarters of the motor indus- try relum:lflnn by the Ford Co. of pro- 100 102y | tor 50 Ing: 1 Chicago Great ‘Western g.‘ucuon of the current model has been of that company wanted to others in the low-priced field keted their new cars and % 54% 543 | around uary e 102% 102% i y 23 23 these quarters, the approaching the Spring buying with a new product. ‘Whether or not this rectly appraises the delay in bringing out the new Ford car, it may safely be said that in the low-priced fleld . o be keener than ever before. There & no industry to of these new cars rice cutting. So far as ver, no price 5 templated for any of the new In this connection blers, 80a00; Trium) ; Min- nesof lers, 75a90; m No. 1, 150a1.60; No. 2, 100aL.10; Col- orado, ebraska w’ymln( Tri- umphs, 75a90. RAILWAY EARNINGS. NEW VORK, September 25 UP.—Au- lway nei - gu‘::g :mm’a toda‘;'m the mfi'{- c 1931, SR 560 Missouri_Pacific... 1,880,020 International Great Northern ....... Gulf Coast Lines. ‘TH= band of the Reyal Swedish Navy touring England. 342,787 140,274 is Sou Ry 55'94 Sou Ry 6% StOil N J 6546, ... StOIN Y 4%s 51, Swiss 5%s '46..... 4 Taiwan E P 5%71 Tenn Cop 6s "44.... ‘Tenn EI P 6 Texas Corp Tex&P 1st 55 2000, Tex & Pac 5s B'77. Tex & P 5sC'19 Third Av rf 4s'60.. Third Av 1st 5s°'37. Third Av adj 55 '60. Toho El Pw 6s '32. Toho El Pw 7. Tokio 5%s '61 Tokio El Lt 6s°53.. Un Pac 18t & Un Pac 4s "6l Un Pac rf 4s 2003. . Un Pac 4%s°67.... Un P 1st rf Gs 2008, Unit Drgcv 6s'53.. 6 Utd King 5%s '37..437 U S Rub 1st 5s '47. UnStWe%sA'd lggu | Ud St W 6%8A'51 Ud St W 5%sC'51 Uruguay 68’ Uruguay Uruguay 8s < 10 Utah P& L 53 '44.. 68 Util Pw 58’59 ww. 49 Util Pow 5%s'47.. 8 Vanadium St 55’41, 1 Vert Sug 1st 7s'42. &5 Vienna 6r 52 9 Wabash 4% [ Wabash 18t 5 1 Wabash 53%s 1 Walworth 6s A '45. 2 Warn Br Pic 65’39, 25 Warn Quin 6s'39.. Warner Sug 7s "41. Warsaw 7s'58 . 1 Wil-O 1st 6%s '33.. Wil & Co 1st 6s*41. 20 WisCentgen 4s'36 5 Yokohama 65 "61... 4! 8 Ygstn S&T 5s A 18 Ygstn S&T bs B' 5