Evening Star Newspaper, September 28, 1931, Page 14

CA—14 wwx LIVE STOCK PRICES REACH HIGH MARK Farmer Fails to Benefit from Sharp Increase in Values. BY FRANK I WELLER, Associated Press Farm Editor. The parade of choice carcass beef back to practically the season's high mark has meant little to the farmer who supplies the bulk of the Natlon's meat. Strictly good and near choice long earlings brought $9 to $9.50 at Chicago zn some sessions this week, but grass steers, now the bulk of cattle receipts, turned $3.25 to $3.75 at Kansas City, meaning that 4 to 5 cents a pound is the best the average farmer can get for beef cattle at this time of the year. There was & scarcity of fed steers and yearlings, and the price on these kinds advanced 25 to 50 cents at Kan- sas City, most fed offerings going at $7 | to $8.50. A similar advance obtained at Omaha, where there was a late week end top of $9.50. East St. Louis paid a top of $9.60 on yearlings and $9.35 on heavies, while Westerns sold as low as $4 to $540. The top on latter kinds was $5.75. Market Improves. All in all, Chicago had a much bet- ter market than last week. Shipped | demand showed improvement lollowln;; the passing of the Jewish holidays, the H dressed market reacted upward on the | better grades of beef, competition be- | tween large and small killers for light | cattle became more pronounced and | there was a decided .hunger for strictly grain-fed steers of all weights, even though buyers preferred cattle scaling | either 1,200 pounds,k upward or year- lings averaging 800 pounds downward. By far the big end.of the steer crop comprised long yearlings and nm: steers, and as the weck wore on ti expansion in numbers gave buyers the advantage of good to choice offerings scaling 900 to 1,100 pounds. In the dressed trade beef moved up 50 cents to $1 at New York, and a steady to $1 higher market obtained at Chicago. A mnl supply of replacement cattle of all grades and representative weights created a buyers’ market at Chicago, and finishers saved about 25 cents. Hcgs ranged from steady on heavy butchers to as much as 35 cents or more lower on underweights at Chicago became relatively inactive. as shippers oo run on some sessions of sows. The fact that the supply of under- weights continues large, despite their relatively low position, has prompted T cets ot s were ce helvierpt.hls week around the market circuit. The supply was moderate at Kansas City, but the weaker undertone turned in new low levels for the year, as prices slid off 35 to 40 cents for.the week. ing demand was narrow and big ers were Demand Smaller. Narrow demand was a feature at Omaha, and &flw. popularly said to be the Jowest in 25 years, went tq levels untouched since the first two months of 1908. Earlier events of the week were over- shadowed at Chicago by the late 25 to 50 cent bulge in fat lamb prices. The ly unwarranted, came planation, however, fac n Practical ished 25 to 50 cents higher ago, as small killers-found it increas- ingly hard at Chicago to fill orders sxcept at higher prices. At first Kansas City paid $6 for fat lambs, the lowest since 1916, but choice range lambs worked back to $6.60. The price of slaughter lambs advanced at Omaha on curtailed receipts, and East St. Louis marked up a 25 to 30 cent advance. The sharply increased supply of thin range lambs thrown on the Chicago market looked unwieldy at first, but active country buying made short work of the crop "the moment lowered, actual declines cents and more. Washington Prodace “ Butter—One-pound prints, 36; tub, 35. Eggs—Hennery, 30a32; current re- ceipts, 20a22. Poultry, alive—Spring broflers, 3 pounds and over, 26a28; 2 to 2% unds, 25a27; 11; to 2 pounds, 23a2: ghorns, 22a24; hens, large, 23a24; small, 21a22; roosters, 14al15. Dressed—Spring broilers, and over, 32a23; 2 to 2!; pounds, 29a 30; 15 to 2 pounds, 27a28; horns, 27a28; hens, large, 25; W .4 yoosters, 15; Long Island ducks, 21a22. Meats—Beef, p;r‘\n; 3 a b, top, loins, 8 to 10 pounds, 20a21; 8 to 12 pounds, 18a19: 12 to 14 pounds, 15a18; fresh hams, 19; smoked hams, 21: strip bacon, 22a 23: lard, bulk, 9; packages, 9'2810. Live stock—Hogs, heavy, 5.00a5.f me~ium, 5.40a5.75; light, 5.10a5.! roughs, 3.2584.25; calves, 1 lambs, 4.00a7.50. Fiuits—Watermelons, 13a35; canta- Joupes, Colorado flats, 1.35a1.50; honey- dews, 1.75a2.00; Persian melons, 2.00a 2.75; oranges, 4.50a6.00: lemons, 10.00a 12.00; limes, per 100, 1.75; apples, bushel baskets, 50a1.00; box stock, 2.25a2.50; pears, 3.00; Seckels, per bushel, 1.00a 2.00; 18-pound baskets, 35a50; peaches, 75a2.00; grapes, Concords, crates, 1.00. bushel baskets, 1.00a1.25; Tokays, 1.’ 2.00: Thompson, seedless, 2.00; pins apples, 4.00a4.50; prunes. 1.00; figs, 4.50; damsons, two-peck baskets, 1.00a1.2! grapefruit, 5.00a5.50; bananas, 1.75a ';'50: persimmons, 1.00; cranberries, .75, " | 1 .FINANCIAL. THE EVEN. G STAR, WASHINGTON, D. € NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. (Continued From Page k and Dividend Rate. Nash Chat & St L(3) Nash Motors (4).... Nat Air Transport. . Nat Bella Hess. ..... at Bella Hess pf 37% Nat Biscult (2.80).. 18% Nat Cash Reg A 1% . 16508 22 NatDary (2.60).... 43 1% Nat Dept Stores Nat Dist I'rod (2) Bales— Add 00. Hi 10s 30 200s 1 1 10 at Lead (5). Nat Lead pf A Copper (80c) Newport Co (1) Newport Co (A) (3). N Y Central (4).. N Y Ont & Wes N Y Shipbuilding Noranda Mines..... 8% 4 Norfolk & Southern. 123 Norf & Westn (112). 414 North Am Aviation. 41 Nor Amer(b10%stk) 48 North Amer pf (3).. 23 Northern Pacific3).. 25 Omnibus Corp. . 18% Orpheum Circuit pf 25 Otis Elevator (2%). 4 Otis Steel 16% Otis Steel pr pf. 42 Outlet Co (4). 11315 106 Outlet Co of (7) 54% 34% Pacific Gas & El (2). 6915 42 Pacific Lighting (3). 131% 113 Pacific Tel&Teleg(7) 11% 5 Packard Motor (40c) 3615 24 Pan-Am Pet B (80c). Paramt-P(m1.62%Dp) Park Utah. . Pathe Exchange Pathe Exchange (A). no Min Peerless Mot Penick & Ford (1) Penney (J C) (2.40). Penn Dixie Cement. . Penn Dixie Cmt pf.. Penn Rallroad (3) Peop Drug Strs (1).. Pecples Gas(Chi)(8) Pere Marquette Ry.. Pere Marquette pf. .. 28 Pere Marquette pr pf 4% Petm Corp of Am(1) 7 Phelps Dodge Co. ... 49% Phila Co 5% pf(50c). 4 Phila&Reading C&1 9 Philip Morris&Co(1) 4% Phillips Petroleum., 615 Plerce-Arrow. 1 Plerce Fetroleum. 227% Pillsbury Flour (2). 26'5 Pirelll (A) (m3.13).. 10~ Pitts Coal.... 40 Pitts Coal pf 40% Pitts Steel pf. . 16 Pitts Term Coal pf.. 2% Pitts United Corp. 5% Poor &Co (B)...... % Port R Am Tcb (B). 9 Postal Tel&Cable pf. 20% 6% Prairie Oil & Gi 26% 12V Prairfe Pipe L1 71% 45 Proct & Gamtk 2.40) 112% 107 Proc &Gamb p: (5).. 6 . 1% Pro& Refiners...... 96% 60% Public Sve NJ(3 40). 102% 92 Public Sve NJ pf (5) 120% 106% Public Sve NJ pf (6) 139% 120% Public Sve N J pf(7) 107% 99 PubSvec G&E pf (5). “58% 22° Pullman Corp (4)... 11% - % Pure Ofl... 101% 66% Pure Oil pf (8) . 556% 14% Purity Bakeries (3). 27% 12 Radio Corp.. . 55% 45 Radio Corp pf A 3%. 60 31% Radio Corp (B) (5).. 9 Radio-Kelth-Orph A. 20 RRSecICstkC(4).. 12% Raybestos-Man 1.60. 45 Reading Rwy (4). 4 Remington-Rand. 3 Reo Motor Car(40c). 6% Republic Stee! 17 Republic Steel pf. 7 Reynolds Metls(1%) 39% Reynolds Tob B (3). 1 Richfield Oil. . 2% Rio Grande Ofl...... a Insur (2.20). Dteh(m2.2789) ay Stores (5). 98 Safeway Strspf (7). 8 StL-San Francisco. . 134 StL-! Fran pf(6 7 St Louis Southwn... 4 Schulte Retall Stores 8 3Seaboard Ofl.... . 40% Sears Roebuck (23%). % Seneca Copper. 414 Servel Inc. .. 51 Sharp & Dohm 12% Shattuck(FG) (11% 4 Shell Union Ofl. 23% Shell Union Oil p! 1% Shubert Theater; 10% Simmons Co. . 4% Simms Petroleum 6% Sinclair Consol Oil. . 77 Sinclair Ofl pf (8)... 2% 10% 25% g 4 e S B T e T » mReanaBanBend- ) » 4. 1 gh. Low. Close, 44 4 4 20 Slos: 17% 5 18 Spalding 2 38% Stand Ga: 9% Starrett( Stock and 3 Dividend Rate, 3% Skelly Oil. ... 10 Skelly Ol pf ww... -Sheff Steel pf 13% Socony-Vacuum .60 214 Southern Dairies(B) 7% South Port Rico Sug. 9615 Sou P Rico Sug pf(8) 33% Southn Cal Ed (2) 55% Southn Pacific (6) 17'% Southern Rwy (m§). Bales— Add 00. High. Low, Close. B 2 44 4 4 't 13% 108 28 1 135 1 - % + W - % -1 + % -2 -1 (AG) (1), 0 -1 4% Sparks Withing (1) 10 Spencer Kellog(80c), 4 Spiegel-May-Stern. . 14% Stand Bra: Stand Comel Tobacce b s (1.20) =&E]l (3%). . 75 Stand Gas&El pt (6). 85 Stanfl Gas&El pf (7). 3114 Stand O Cal (h234). 98 Stand O] Exp pf (5). 8% Stand Ofl of Kansas. 30% Stand Ofl NJ (12) - % ~2 5~ % LS) (12%). 1% Sterling Secur (A).. 22 Sterling Sec cv pf(3) 4% Stewart Warner.... 16% Stone& Webster (m2). Studebaker Co(1.20) Studebaker pf (7) 10 i 109 30 Sun Of1 ( 20 Superheater (2%) % Superior 3 18. Texas Co: 24 6 12 The Fair 2 Thermoid Co... 5% Third Avi 7% Thompson Prod 1 20. 4 Tide Water Asso Oil. ater As pf(6) 4 Timken-Detroit Axle 25% Timken Roller B(2). 1% Tobacco Products 281 Tide 4 Transam 5% Transue & Williams 44 Tri-Contl Corp. .. 6315 Tri-Contl Corp pf(§) 27 Trico Product Twin City Under Ell Fisher (4). 4 Union Carb & (2.60).. ) 4 Un Tank US U S Pipe U S Steel U S Steel Univ Pic 13 Vadasco West Pa 12 118% 1 12% 0315 4% % Western Western Western Wi Whi Wilcox Of Willys-O Woolwort 8 6615 Ye 14 You 10:30. A.M. vidend rates ons. xEx-dividend 4% 1o siock. BT b payable in stock h tock. us 3% in stock. 3% in ‘stock. m Paid © Plus 2'2% in 11% 6 6% - 1y oy Tennessee Corpi Gulf Sulphu 213 Tex Pacific Coal&Oil Tex Pacific Land Tr. 5 Thatcher Mfg Co. Union Oil of Cal Union Pacific (10) Unit Afreraft. . Unit Afreraft pf (3). Unit Carbon. . Unit Cigar Store: % Unit Corp (75¢). Unit Corp pf (3) Unit Electric Coal Unit Fruit (4)...... Unit Gas&Im(1.20). Unit Gas&Im pf(5). U S Distributing. U S Lesther. . ther (A) h U S Pipe&Fy 1st 1.20 U S Realty & Imp(1) U S Rubber. .. 4 US Smtg & Ret (1). U S Smtg&Ref pf 3% T1% _32% Vulean Detin (4).... abash RR. o Waldorf Sys (1%).. Walworth Co . Ward Baking pf (7) Warn Bros Pictures Warner Quinian Warren Bros........ 4 Wesson O&Sno pf (4) Western Pacific. Westinghse A B(2).. Westinghouse (2%). Weston Elec Instru Westvaco Chlor (2 eling Steel White Motors Rock ( Wilson & Co. . Worthington Pump. Wright Aeronautical Wrigley (Wm) ( ow Truck. . ng Spr&Wire(2), 25 Ygstwn Sheet&Tube, Sales of Stocks on New York Exchange. D ¢ash payments based on the n J Pl - % + 1 S —1% -3 % % M1)e...nee Oll. . % W D (2). @ % % (2.40). - % -~ +1 enue. 1% % " o erica Corp. . .. + % + % - % 2% -1 2%) - =5 Car (1.60). - - % oy o orpf (7). & Fdry (2). N N R AR AN R AN N AR O R~ ANDN DR~ N AN AN DA~ B N NN B D A » N ow 8 Corpn (4) ot (7 o —1% United Stores (A 1st pf (8).. Util P&L(A) e12.15. Sales Corp. Vanadium Corp. Va-Caro Chem - % + % -2 Elec A (7).. 4 West Pa El pf (6)... West Pa El pf (7 West Pa Pwr pf (6 Dairy (B).. Maryland. . Unlon (8).. 1] & Gi verland th (2.40). admnuarun3Znn 8 3 3 300,000 12:00 Noon. 600,000 800,000 2:10 P.M. 1,000,000 in the sbove table are the snnual n latest quarterly or half-yearly decia; year—no regi cash or stock. f Plus in_special préferred stock. year—n ar rate. n Plus 0 reguls Plus : this o * | Saturday. MONDAY IFOREIGN BOND LIST | oo B 15 SHARPLY LOWER) Foreign Dollar Issues Decline on Further Suspensions of Gold Standard. BY F. H. RICHARDSO! Special Dispatch to The Star. NEW YORK, September 28.—Suspen- sion of gold payments by Norway, Sweden and Egypt, ralsing of its bank rate by Italy and unmistakable signs that other European defections from the gold standard are imminent, de- moralized the market for foreign dollar bonds here today. Sweden 5';8 dropped 1 to 5 points between sales to a new low level. some 20 points below its closing price of Norway 6s of 1044, after opening only fractionally lower, slumped as rapidly for a net loss of about 10 points. Italy 7s dropped more than 5 points to a new low. All of these bonds are payable in New York in American dollars. As yet there has been no default by any European country and bankers here be- lieve there will be no default in ex- ternal debt service by any European country unless there is a major crisis such as a war or a revolution. Nevertheless, all bids for Norwegian, Swedish, Itallan and other European bonds were withdrawn before the open- ing today, and, notably in the case of the Norway 6s, it was over an hour before these issues could be opened.] Bidders bought sparingly and backed down rapidly as successive sales ab- sorbed all the bid. Italy's descriptions have shown con- siderable strength during the decline in the foreign list, and that they have now broken is probably attributable to the fact that yhly found it too costly to support _artificially her obligations here, While Italy has not ceased gold g:ep ments officially, actually it has n impossible for some time to engage gold for export. Rome 6!3s were off more than 5 points. Milan 6l3s also had a wide break. German issues, seemingly unaffected by this liquidation, held firm or ad- vanced slightly. Great Britain's 5ls remained around 95, the ed price. Danish andi Finnish issues followed the other Scandinavians down. Kreuger & ‘Toll 55 and International Match 5s re- flected with sharp losses the further undermining of the company’s large governmental loans. Swiss 5l5s and Belgian descriptions bowed before a volume of distress selling. ‘The domestic list was steadier. 12,000 ARE EMPLOYED IN REOPENED MINES Pennsylvania Collieries Resume ‘Work When Coal Orders Are Increased. By the Associated Press. WILKES-BARRE, Pa, September 28.—Twenty-one collierfes of the Le- high Valley Coal Co., many of which had been closed for months and some for more than a year, reopened today, furnishing work for more than 12,000 % | men. ‘The reopening represented one of the largest single working orders issued in recent years, officials said. After erations are in full swing they several hundred additional men may be employed. Increased coal orders made necessary the immediate opening of the mines, it was stated. A large section.of the coal fields is affected. Washingzn sfock achange SALES. Second National Bank—7 at 166. Lanston Monotype—10 at 751, 10 at 75, 10 at 75, 10 at 75. AFTER CALL. 'Po]tg:nlc Electric Cons. 55—$1,000 at Clp‘b.fl Traction 55—$1,000 at 7615. ‘Washington Gas 6s “A"—$300 at 101'%. Potomac Electric 6s 1953—$1,000 at|C Potomas Electrie 5% % pfd.—10 at 103, 3 at 107%. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Tel. 4128 '39 m. Tel. & Tel. ctl. tr. 5s. a & Pot . Asked. ot. D . Tel. of Vi Capital Traction R. R. City & Buburban b: Georgetown Gas 1st 5s Potomac Elec. Cons. 5 stock. CORPORATION REPORTS ‘TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, September 28.—The fol- lowing is & summary of important cor- porstion news prepared by the Standard Statistics Co., New York, fcr the Asso- clated Press. / ‘Weekly News Review. Although the stock market was able to withstand the selling pressure caused by the news that Great Britain had sus- pended the gold standard, it must not be overlooked that for two days the p“fi; tice of short selling was banned. sweeping wage reductions in the steel industry and cther lines were followed by the most pronounced rally thst has been seen in many months, However, this advance was not sustain-d and ex- treme weakness developed the following per cent; eight months' off 69.2 per cent. Ann Arbor Rallroad August deficit, after charges, $42,832 vs. surplus, after charges, $19.948; eight months’ deficit $227,606 vs. surplus $65,872. Boston & Maine Railroad—August surplus after charges off 41.9 per cent; eight months off 25.8 per cent. International Utllities declared initial dividends of 87%; cents on $3.50 prior preferred stock and 43% cents on $1.75 preferred stock. Pile Bakeries, Inc., declared intlal divi- dends of 75 cents on new second pre- ferred and 40 cents on new common stock. Sinclair Consolidated Oil defict, six | months to June 30, $10,415,088, against i net income $3,251,709, equal to 49 cents a common share. Southern Railway August net operat- | ting income off 52.8 per cent; eight months off 52.6 per cent. Valvoline Oil—Paying premium of 15 cents a barrel above posted price for Pennsylvania ofl; formerly paid premium of 5 cents a barrel. Wabash Railway August deficit after | charges $706,62( ainst surplus after charges $135,472; eight months' deficit day The movement of the market as Vegetables—Potatoes, per barrel, 1.75a 2.00; sweet, per bushel, 50a75: tom: toes, 1.00a1.75; string beans, 1.20al. limas, 1.50a2.00; cabbage, 50a75; kale, 1.00a1.50; corn, 75a1.5 , 1 75; celery, 3.75a4.0f lettuce, Iceberg, 3.75a4.00; New Yor) 50a1.00; carrots, per 100 bunches, 3.00; beets, per 100 bunches, 3.00: eggplant, 5. okra, two-peck baskets. 75a1.00; peppers, 65a75; squash, 50a75; mush- Tooms, 60a1.00. FOREIGN EXCHANGE. (Quotations furnighed by Nom thens, drach Madrid, peseta judapest. pengo. . . érown (nom.j profit f=mu't 5 supper” %flw:&l :M:g.‘efi?!?am ‘wms'24 centa W. ™. Hibbs & Co.) scid Selling checks | today. | indicated by our price index for 90 stocks showed a decrease of 0.1 points, declining from 86.8 on September 21 to 86.7 on September 25. Decreises were recorded by Industrials and utilities, while rails, probably due to an over- sold speculative position, moved to higher grcund. The bond market was more sensitive to England’s announcement and with the exception of Wednesday, dispieyed extreme weakness. As was to be ex- pected, the foreign group suffered the most acute declines, especially the issues | after charges $2,941,325, against surplus “fl!r charges $1,480,051. | _Alton Railroad August deficit after | charges $224,816, a; it deficit $192 - | 607; eight months’ deficit after charges (including about $1,526,000 unpaid jn- | terest on Chicago & Alton bonds), $2,- 362,259, against deficit $2,711,771, American Car & Foundry—Low bid der for 800 New York City subway ca: | with quote of $16,657,000. American Rolling Mills cuts wages 10 | per_cent. Missouri-Kansas-Texas Railroad Au- | Bust net income $114,894, against net of countries whose banking and business is closely allied to sterling. The Companies. New York Telephone August gross off 1.7 per cent, operating income up 6.6 per cent; eight months’ gross off 0.3 per cent, operating income up 8.8 per cent. Pennsylvania Power & Light July op- era revenue up 13.7 per cent, net operaf revenue up 26.9 per cent; 12 months’ operating revenue up 8.9 per cent, net operating revenue up 7.1 per cent. Remington Rand, helf earned in current year. Youngstown Sheet & Tube— erat! at 20 cent to 25 Alabama Great Southern Raiiroad [Alrcad reduces eal -August-net operating income Off 58.9 | per ceni to 10 er cent; all others % Inc.—September | New York Subway cars, bookings running 6, per cent ahead of | ear 3 7 We:l‘l?llhmn Air Brake—President stzt>s $2 dividend will be more than | Ohhlg. Plants Omaha Rsil r cent | Income off 69.9 per cent; eight months capacity vs. about 35 per cent a week Cff 86 per cent. income $533,986; eight months' net defict $752,053, inst | Songna, agal net income $2, | _Norfolk & Western Railway—Reported probable company will declare year ;mi ex';’r‘z cgzm dividend of $2 per { re a o $250 | disbursement. 4 R | Peerless Motor Car—Deficit, nine | months to June 30, $379,565 vs. net income $208,829, equal to 49 cents a | ccmmon share. |, Westinghouse Electric & Manufac- turing—Low bidder for control equij ! ment_with quote of $5,882,500 for Wheeling & Lake Erie Rallway— August met operating income off 41.5 per cent; eight months off 64.2 per cent. | St. Paul, Minneapolis & way—August net operating Delaware, Lackawanna & Western of employes |Teceiving over $8,000 be given two days’ leave a month with- out pay. Fitzsimons & Connell Dredge & Dock—1931 flscal year's earnings ex- pected to exceed those of preceding fiscal year, when $2.06 a common share was A Gencral Rail Signal eneral Iwa al submil bid of lZ.Sl'l.lOO,fvr New \"y;ku Clto!; o Ly e alley E ations at 21 collieries. o e months off 51.5 per cen Smith (A. O.) Corporation—Common earnings year ended July 31, $6.28 . ADVANCE IN SILVER IS HELD TEMPORARY Return to Former Level Around 28 Cents Is Forecast in Shanghai. Special Cable 'lfl ‘The Star. SHANGHAI September 28.—Spec- during the past week are believed here to be only temporary and indications today are for a return to the former price level, around 28 cents an ounce. Chinese and foreign bankers and sil- ver experts interviewed today by this correspondent were unanimously of the that definite improvement in silver is not likely at t time and that the recent flurry was due to ma- T N en ar- ling is stabilized, o i “There are no sound reasons for the rise in. silver prices, as no important hat el‘l'k Y lac ve ‘en place,” said Li Ming, pres- ident of the Chekiang Industrial Bplnk “Last week’s rise was due to specu- lative excitement as a result of the fall of a Sino- rumors of demoniti- &;‘ sterling, the Japanese war zation of gold by Japan.” (Copyrisnts 1931.) . Gy $13,000,000 Bank Merger. CHICAGO, September 28 (&), Merger of the Chicago Bank of Com- merce and the Union Bank of Chicago was announced. by officials of the two e two banks will nder the e two w under of the gl name Com- assets of the merged car from 7% ' to 3 bank mmlhlv $13,000,000 ‘and deposits t $10,000,000. 4 tacular advances in silver quotations| E: developments | T& Potomac Eleciric Wash., Alex. & Wash. Gas 6s. se Wash. Rwy. & Elec. 4s MISCELLANEOU:! s, Inc. 6348...... e Club 5128 p Club Barber & Chevy Ci Columb . C. T Mis. W. M. Cold Stoi STOCKS. Pot. Elec. Power 67> pid Pot. Elec. Power 5127 pfd. .. Wash. Rwy. & Elec. com. (1) Wash. Rwy. & El pfd (5). NATIONAL BANK. @ District (8 - ? Ped.-Amer. Natl. Bk. & Tr. (2). Liberty «78) 1 Lincoln '12) Metropolitan Riggs (1. Second (Bei " Washington (13). peet TRUST COMPANY. Amer. Sec. & Tr. Co. (15) Continental Trust (6). Natl. Sav. & Trust (121 Prince Georges Bk. & T) Union Trust (83). ‘Wash. Loan & Trust (14)... SAVINGS_BANK. Bank of Bethesda (8%) Com. & Savings (10). East Washington (12).. 'oto! ao..... c. Bav. & Com. B Seventh Street (13) . gnma States (30) e ‘ashington Mechanics (20) FIRE INSURANCE. American (12) . . goreoran (10} en's (8).0111100 Katior Union (15)... National £ TITLE INSURANCE. Columbia (6h) . Real Estate (6h). . raea MISCELLANEOUS. . Inc., e gulcS;nd :‘Sr - R 1 flwnn DI £ 14 Eeoples b Real Est. M. Security " Stors Corp. Corp. (1.50) tge. com. ( . Bldg, Corp. (1) ward & Lothrop com. %m'lrd & Lothrop pfd. *Ex dividend. bBooks_closed. na2sc ext) 130c ext: 1% extra. 1a% extra. SILVER QUOTATIONS. NEW YORK, September 28 . silver steady, ¥ lower at lln.m uofi_,‘ SEPTEMBER 28 1931 ite Grand Trunk 7s'40 3:58. Grt Nor 4%s'76 10111 10118 102 2102 2 108 9103 9 9725 9726 9830 9830 4% 832-47 L 4%533-38270 35 1951-55 396 %849, ...242 * % % BrouSlonnexenal vonsee sl Greek 6s°68 Hoek Val 43489 Hud & M adj 5s Hud & M rf 5. Humble O11 840-43., 103 104 28 105 3 108 30 108 30 - Hungary T%s 44, 111 Bell Tell 5556, - s Abitibl PAP 58 '53. Adams Exp 4s'48.. Alleghany Cp 58 '¢4 Allegheny bs ‘49 Allegheny 58 °50. Allis-Chalm 6s ‘37 Am F P 55 2030 Am 1 G Ch 5% Am Intl5%s o g 32... IntRap Tr 7s 32 Int Cement 8. Int & Gr Nor 8s°'52, Int Hydro El 63 44, Int M Co bs ret's1 Int Match 5s'47 Int MM col tr 6s Int Pap 63 A *47 Int Pap 65 °65. IntT&T 4% Int T&T cv 434 IntT & T 68’55, Italy 7s61. Italy Pub 8 78 '52 Japanese 514865, , Japane: 14854 Jugosl Bok 7857 Kan CFtS&M 4»'3 Kan City Sou 38'50, Kan City Sou 58’50, 1 Kan City Ter 4560, 29 Kan G&E %530, 13 Karstadt 6s '43. 7 Kend 6%s 48 ww.. 1 Kresge Found 65°36 31 Kreug & Toll 6859, 7 2 1 Am Sug Ref 65 '37 Am TaTcv 4%8'39 Am T & T bs'65 anBiel Am Wat Wks 68 ‘75 Argentine May "61. Argentine 63 J. Argentine 301 Atchiscv 4% AtICL 1st 45 '52. AtICLecl 48'52 At Gulf s Atl Ref db 58°37. Australia 474856 Australia 68 '55. . Australia 58 ‘67 Austria 7s'43. Austria 7867 ctfs, Lackaw St § Lac G StL b . Laclede 5348 C'53 Lautaro Nit 54.. Leh Val ev 45 2003, Leh Vcn 4%s 2003, Leh Valley 58 2003, 1 Lig & Myers 58'51. 2 Lig & Myers 18'44.. 21 Loew's 63 ex w '41.. Long I 6s°95. . 1 P&WV 48’41 Lorillard 7s L &N 452003 Lyons 63°34.. McKes & R 5% %50, 30 Nassau Elec 45 5 5 Manh Ry 1st 45'90 Market St 78 °40 Marseille 6s'34. Mex 45 astd 1910° Midvale Stl 55 '36 Milan 6%s 52 MilERy &L Mil El Ry&Lt MK&T pr In §s. MK & Tadj Mo Pac gn 4575 Belgium Bell Tel Pa 53 B Beth St pm 5s'36.. Beth Stlrf 5148 '42. i Bordeaux 65 Bost & Me 4% Bos & Me 58 '55. Bos &Me 58'67.... Brazil 6148 '26 Brazil 615829 Brazil 7 Brazil 854 Bremen 78'35..... Bk Ed gn A 5849, Bklyn Elev 6%4s. .. Bkiyn Man 6s Bklyn Un 1st 5850, Buenos A 65’61 Py. Budapest 6s'62. ... Buff Gen El 4831 BR&Pitt 4% Bush Ter con 65 ‘55 Bush T Rldg 55°60. Calif Packing 58 40 Canada 4s '60. Canada 4%s '3 Canada 5s °52. Can Nat 4%s 64... Mo Pac 5s F 17, Mo Pac bs H ‘80 Mo Pac rf b3 ‘81 Mo Pac5%s A 49 Mont Pow 68 '43. Montevideo Mor&Co 18 Nat Dairy § NEng T 1st 63 '52.. NOT&M5sB54. Nw S Wales 5 '78. NYC&StL5%8A'74¢. 11 NY C&StL 6s'32.. 11 N Y Edisn 5s B'44., 11 NYEd1st6%s'4l.. 5 NY NH&H 4%8'67. 15 NYNH&H clt 6540, 2 Can Nor 434335 Can Nor 6335 db 46 Can Nor 7s db "40.. Can Pacdb 4s..... Can Pacific 415 46 Can Pac 4%s '60 Can Pac 55 '44. Can Pac 58 '54. Cent J11 G&E b Cent Pac 4s '49 Cent Pac 53 '60 1| NY WaB 4%s°46. Nord 6%s'50. Nor & Wnev 4 No Am Co 53’61 Nor Pac 3s 2047, Nor Pac 4597 Nor Pacr16s 2047. 50 O 4%sA'93., 04%sB'95... & Q gen 43’58, &Q4%s'TT... &Q 18t rf 5571, CB&Q 11 dv 33549 CB&Q I1ldv 45 '49. Chi & Est 111 58'51. . Chi Grt West 4s'59. Chi M & StP 4145 C. Chi M&StP 418 E. C M StP&P 53 '75.. Norway 5% Norway 3. Norway 6s'44. 3. 30 Orient dev 65 '53... 27 Pac GEE 58 '42.... 1 Pac T&T rf 53 °52.. C&NW 4%s5 C 2037, Pan-Am Pet 63 '34. 1. Chi & NWen 4%s.. Chi&NW rf 55 2037 Chi & NW 6%5°36. . Chi RI& P rf 4534 Chi RTcv 4% '60. ChiRT&P 4148°52 Chi Un Sta 43%s5°63. Chi Un Sta 55 B '63. Chi Un Sta 6145 '63 C& W Ind 6%s'62. Chile 6s 60 . Chi ‘61 37 Penn 4% s D81, Penncv4%s'60... 1 Penn gn 4128 '66... Penn 4145 '70 Penn gen 55 ‘63 634836 Peoples’ Ga Pe c Clev Term 434 Clev'Term §s°73..., Clev Term 5%s'72. Colomb 68 Jan '61.. Colomb 65'61 Oct. . Colo & Sou 414835, Colo & Sou 434580, 3 Col G&E 68 May's2 15 Col G&E.cou bs '61 6214 | Pillsb F' M 6843 90 | Philippine R 45'37 8714 | PCC&St L 58 B 75 Poland 65 40 4 1054 | Port Gn 67 | Porto Alegre Consum Po Pos Tel & C Copenhag § Cuba %845 e Ceecho Del Pwr&L 4%s 71 I aonm aleDemmen Pub Sv G ¢%s’7 Pure O11 533837 Denmark § Denmark 6842 D& R Gren 4s'36. D&RG W Ea'5E.. Det E G&R4 %561, Deutsche Bk'6s '32. Dodge Br cl 6540, Donner St 78 "42. .. Duquesne 418 '67. Dutch East 1 Nov.. Dutch East T 68’52, East C Sug 772837, E| Salvador 8s'48.. Erie con 48 A'53 Erfe gen 4s Erle cv 58 '67 Erie 68'75. Flat Ts war, Finland 65 '45. ... Finland 6%8 '56... Fisk Rub 8s 41 Rich Oil Cal 63 Rio de Jan 6348 R Gr Do Sul 6 RIAr& L 4%s'34. Rome 618 '52. ... 12! Roy D 4s'45 ww... 13 StL IM R&G 48 82 84 8214 84% [ P-4 55% Sy L§ W 68 '52.. San A & A P 48’43, Sao Pau 7840 ret Sao Paulo 8 30 | sa0 Paulo 8s'50. 10% | Saxon P W 6% French T%s Gen Baking 5% '40 Gen Cable 518 '47 Gen Motors 68 '37.. Gen PSv51%8'39.. Gen St Cas 514549, Shell Un Oll G849, 40 20% | Shinyetsu 6%s 351 | Sinciair Ol 6% 8’38 4TH | Sinc O 7scv A '37.. 46% SinecrOb%s '3l 1801 ou B, 48% SW el T 8s. 87% Sou Pac re 83% Sou Pac FINANCIAL 5% 113% 100% ONDS ) |AGE RESTORATON FIGHT NOW LOOMS ™ | Union Labor Convention Ex- b which pected to Plan Against Further Reductions. BY CHESTER M. WRIGHT. wu&: reductions in the steel ind ivention, about P::en"m | 1‘:‘%‘; couver, & n'e:‘vohue. b - The situation as It was less than a week :g) indicated a convention in the twin keynotes would have been unemployment and a fight against wage reductions. Obviously the action of the steel industry changes the situ- tion, and instead of protest the issue mmu largely one of wage resto- President Green, with all oth - clals and most of the fiue..&‘?fi now en route to Vancouver, where the annual convention opens on October 5. Resentment Expressed. Statements already made - dent Green, Vice President Matthew Woll and other labor leaders indicate resentment of ex depth and of some bitterness the s wage reductions ordered during the week. The outlook, on the basis and on the basis of known u:‘u:nm that has been accumulating for at least a year, is for a convention in which there will be a vigor of speech and ac- tlon unknown for years. Certainly the ::“fiz o: tx!u lu:d industry will serve resh edge on 3 gt debate from ‘The action of steel does not aff trade union agreements, but among gg‘ thousands of workers whose wages have been ordered cut there are considerable numbers of union men working without agreements other than the t between worker and employer. How- ever, that is not the principal point at issue. The principal point is the ob. vious fear that the action of steel will serve to give fresh impetus to the whole - movement. For : year wo:nnlnfl llh‘:r has cen- tered enormous energies to mlln;aln’u It has e announ aith in the power of high wages and properly readjusted work hours per day and week to restore and maintain an economic balance. Labor had come to feel that a body of public sentiment had o support James A. imself in hhm T % | Steel Institute address, where he at- 60% 41% 67 66 66% 66 empl % ‘“P M‘::l‘rk’le relations MY 94y 84 84 105 113% 113% 80% 80% 100% 100% 102 102 103% 103% 105% 105% 3 73 90 90 97 97 102 102% 105% 105% 85 85 3 93 85 85 84 84 86% 86% 8015 80% 84% 85% 102 102% 106% 1074 100% 100% 70 70 100 101 100 100 9013 90% 84 84 89 891 101% 101% 5 95 9% 80% 90 90 99% 99% 101% 101% 104% 104% 93 93 104% 104 b5 55 8% 10 9 9 93 93 95% 95% 101% 101% i 101% 1013 8% 103% 104% 80 80 45% 454% 921 2% 64 64 7% 8% 8 89 8% ! 814 35 35% 35% kil 4.79 . tacked the wage-cut lu{g :l#“m advocates in the 1 undoubf be erally felt in the convention that n::nonb have rs been forced to % | masses of worke: lower levels of living, but that the public agreement upon a gfim up effect policy has been nowee'l'h and in e institutions in the Nation. doubtedly the feel il whole effort to c!uunt: ;flreb‘ B has been & new note of strife ¥ Jected in its place. i 7 Labor Has Taken Stand. It is an open secret that organized hbm-hungtuw-ntedlmhumdh construction work is being done at prevailing union rates, which means that, while in somewhat, they remain about as they were in the b 3 'mmmm.' ht spots will mot ese spot ol far to tone down the bitterness th:: now seems certain to break forth in the coming Vancouver convention. Clearly enough “fight” is in the air, as it has not been at any time since the stock market took its famous nose dive two (Copyright, 1931.) o FOREIGN CONDITIONS. NEW YORK, September 28 (Special). —The news from abroad today would, under ordinary conditions, have been extrgmely bearish but as it was a sequel of last week's events it played an unim- Yyears ago. Ygsta 8&T more concerned with foreign dollar bonds than with American stocks. Announcement that Norway and Swe- den had followed Denmark in going off the gold basis, with discount rates throughout Scandinavia advanced to the highest levels in this history, re- flected the limitations of other markets since the normal parity of sterling was abandoned. Italy also gave an echo of this in raising her rediscount rate from 515 to 7 per cent. There has been gov- ernment suppcrt the past week to lira. Markets in Germany remained closed as the banks there are not willing to meet the effects of possible further liquidation on the resumption of free trading in securities. Sales. High. Low. 2:85 SouPac4%s°81... 51 79% 7813 78 Sou P&Or 4%s°77. 49 914 90 Sou Ry gn 4s 4 Tatwan EP §%571 Tenn EI P 65 A "47. Texas Corp 58 ‘44 Tex & Pac 55 BT Third Avrf 4 Third Av 1st Third Av adj Toho El Pw 68 '32.. Un Pac 1st .44 Un Pac 4s. Un Pac 4% Unit Drg ev PRun oRansanmnbanon Utll Pw 53 '69 ww.. Util Pow 5%8 "47.. Vanadium St 58’41 ) Wabash 4%s "7 Wabash 1st bi . Warn Br Pic 68’39, Warn Quin 6s *39 oo P =t WinRA T%8"41.. Yokohama 65 '61... 25 Ygstn SET 5s A'78. 13 58 B'70. 10