Evening Star Newspaper, October 5, 1931, Page 15

FINANCIAL TURB SHARES SINK * TO NEW LOW MARK THE FINANCIAE. 7™ NEW YORK CURB MARKE designated by letter “a.” 223 A—18° LIVE STOCK PRICES ARE SHOWING GAIN C., MONDAY, OCTOBER 5, 1931 WALL STREET IN - GLOOMY MOOD INCREASE lNU " | ASFOURTH QUARTER IS STARTED EXPORTS REPORTED |pucchase of Stocks by Wealdhy Peoge I Received by Private Wire Direct to The Star Office Stocks ~Prev. High. 14 in 100-share I 9: ock Bales— 1 Add 00. Open. Migh. Low. 2:55. Dividend Rate 3 % % % % - ceded readily " Public Utilities Are Chief Target in Wave of Liquidation. BY JOHN.A. CRONE. Special Dispatch to The Star. NEW YORK, October 5 —A wave of selling just before midday sent the Curb Exchange market to new low levels for the bear market. Activity increased on the downside. The open- ing had been rather quiet, but gen- erally lower, Electric Bond & Share moved down almost a point, a block of 5,000 shares coming out at 16 shortly after midday. Cities Service was off almost a half point. _Commonwealth Edison broke about four points. Standard Ofl of Indiana, at 17, was at a new minimum mark Unlike in recent sessions, today's trading was not selective in character, the selling being quite generally spread over the cntire list. Public " utilities again were pressed for sale, but such offerings werc not confined largely to preferred issues as was the case last week Great Atlantic & Pacific Tea stood out as an exception to the general down trend. Similarly Consolidated Gas of Baltimore was conspicuous in the utilities as it advanced against the general trend Later_this course was followed by Duke Power. Driver Harrls likewiss was an exception to the general move- ment in its group. The softest spot in the chain store division was Bohack, which broke 10 points. Ncbraska Power preferred and New York Power & Light preferred, each with losses of more than 3 points. were the most vulnerable shares in their classification. Singer Manufacturing yiclded 5 points on a few sales, while one offering proved sufficient to break A. O. Smith Corporation 6 points. Aluminum Co. and Copper Range enjoved the distinc- tion of being the most hcavily offered high-priced and low-priced metal shares, Tespectively. Standard of Indiana led the decline of the Standard Ofls. but Humble re- and a_single offering brecught about a point loss in Standard Oil of Ohio. Cord Corporation was the feature on the downside in the motor list. Ford Motor, Ltd., because of the increased supply cf stock from London, was a trifle lower, as was Woolworth, Ltd., common. Swift Packing, which was off only a small fraction, proved to be the weakest | of the packing shares, which though inactive, were not inclined to fluctuate. FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co) Nominal gold’ 5 London, pound. . franc Budapest, pengo Prague, crown (nom.) L zloty. Copenhagen, crown Osio. crown Stocknolm, crown. BONDS ON THE CURB MARKET. 90900mRT 2z s 7Cen Pub Ser 5iss 16 Cent Stay Elec 85 e < 1 Cinci Str R: 119 Gities Service ImenaaE e . e S D e 1 0yt 1 03013 1 St B £33 e N S ntersta Power 65 1 1 1 6 Intersta Fower 5 | Inves Co 55 Lehigh P Libby MeN &L 5 S 65 i & L ni Lt & Ry 63 A s 6ius 132 8 Rubber 6 Pb Ser 5l A Va Public Serv s 7 Waldor{-Astor s 2 West_News Del 6 1Wes Penn Pw 45 H 46 48 4 23 Buen Air Pr 7 1Cauca Valley s 48 1Cent Bk Co 6s B 1 Danzig Port 4 Ercole Mare_ 6! 15 Europ Mtg s C 3 Ger Cons Mun 6s ’ 1 Gestueral 65 53 4 Ham ES&U 515 10 95 24 10914 12 Benefi 2 Blue Ridge cv pf(a3) » Bour, o Br < BritATcou B s Brit ATrg 1. ¢ Buff N & EP1st (5). . Carih Syndicate 3 Adams Mill 1st pf(7) 1258 Affiliated Prod 1.60.. 9 All Am Gen Corp. Allegheny Gas Corp. 2 2 Aluminum Co of Am.1525s Alu Co of Am pf (6). ‘Aluminum Co Ltd. ., Alum Ltd B war Am British & Cont, Am Capital prpf 5% . Am Cigar Co Am City P&L (A) a: Am Cit PAL B b10%. Am Com P A (b10%) ‘Am Corpn (£30¢). Am Cyanamid B Am For Pow war. Am Founderg. Am Gas & Elec Am Invest Inc (B).. Am Invest war..... v A 2 Am Laundry Mch(2) 1258 Am Lt & Trac ). 13 Am Maracaibo % Am Superpwr (pd0c) 4 Am Superp 1st (6). ‘Am Superp pf (6)... Am Util & Gn B vte Am Yvette (2 Appa Arcturus R: 2 134 5 5 63 2 32 1 cu pf (60¢). Lpf (7). Wks (6 Asso Rayon. Agso Tel Ut (b8 % Atl Coast Fish... Atl Fruit & Sugar. Atl Lobos pf. Atlas Plywood. . Atlas Ut1] Corp. Atlas Utilitles war. Auto Voting Mach Axton Fish To A 3.20 Bellanca Air v.t.c. La Rickford's (1.20) . Bigelow-Sanford. Blue Ridge Corp 3 tohack (H C) (4) Rorne-Serymser is Ine (25e). zil Trac Lt&P (1) Brillo Mz (60c).... trit Am Oil C (80¢) 5 E 3 3 SRR DR~ KA~ OOAR DN @ 2 [IPPASICEN- Bulova cv pf (3%).. Bunker Hill & Sull. . 500 Burma rets 27 3-5e. Cable Radio T vte Canadian Marconi Carnation Co (j133). @ IS ot B Cent Pub Sv Del. ... Cent Pub Sve A b5 % wn Ut (b7 %) Cent Stat El (b10%) . Cenirifug Pipe (60c) 3 Store Devel aude Neon Lts Inc. Clev El Illum (1.60) . Colombia Syndicate. Colon Oil..... Col Oil& Gas vie Colum Pic v.t.c. f7sc. Cmwlith Edison (8) Cmwlth & Sou war. . Com Wat Ser g123;¢ Consol Auto Merch. Consol Copper Con Gas Balto (3.60) Consol Royal (20c) ‘ont Shares cv pf. Cont Shares pf (B). Covper Range. ... . Cord Corp Corp Sec Ch % Creole Petroleum. « Cresson Consol (4¢). Crocker Wheeler. ... Crown Cork Intl (A) Curtiss Wright war. Cusi Mex Mining. ... Dayton Air & Eng. Deere & Co. .. De Forest Radio Derby Oil Refining. . 4 Detroit Aircraft Draper Corp (1) DressSRA (3 Dresser Mfg B (2) . Driver Harris new.. Dubilier Cond & Rad Duke POw (5)+..... 3008 Duquesne Gas. ..... Durant Motors. . ; & I? Assoc. ta Pow (B) 1 Assoc (2) UtilInvA..... ler Electric. ...« c Bond&Sh (b6 %) lec B & Sh pf (6). s lec Pow Assoc (1).. loe Pow Assoc A (1) c P & Lt op war.. 1 Shareholds (b6 %) lec Sharhldg pf(a6) mpire Corp. G & F cu pt(7).1508 p G & F cu pf(8). 1508 pire Pwrpt(2.24) 1 mploy Reinsu t1.80 2 reka Pipe L (4)... 508 rop Elec debrts. . 3 Fairchild Aviation.. 1 Fajardo Sugar......550s Fiorida P & L pf (7).550s ord M Can A (1.20). 22 Ford Mot Can B 1.20.100s Ford Mot Ltd 36 3-5¢ 29 Foundation For Shs. 1 Fox Theater (A). 18 Gen Aviation s D) Genk Ltd ry c. 39 en Empire (1). 1 » ol e [ RIS PL IS Em 6 3-! ¢ Gen G&Ecv pf B(6). Ger Theat Eq cv pf.. ibert (A C)pf 334, Globe Underwr (15¢) Goldman Sachs. Gorham Ine pf orham M vte (£2). Graymur Corp (1)... 2 GUAt&P T nv (16%) 508 GtAt&Pac Tea pf(7) 60s Grief & Bepfx (7).. 1 Gulf Ofl of Pa (1%). Hall Lamp (40c). ... 4% Hamilton Gas v.t. Hecla Mining (40c) Heyden Chem (2)4.. Hires (CE) A (2) Holt (H) & Co (1.80) Horn (A C) Co.. Horn (A C) 1st pf Hudson Bay M &S.. Humble Oil (12%).. s+ HydroElec Sec(1.20) Hygrade Food Prod. 111 Pow & Lt pt (6). Imp Ch Ind(10 2. Imp O1l of Can (50¢ Imp O Can reg (50¢). Imp'l T GtB&I(1.12) Indiana Pipe Line(1) Insull Inv (b6%). .. Ins Co ofNo Am t23% Int Petroleum (1). Int Superpwr(+1.10) . Int Utilities(A) (31%) Int Utilities B...... 4 Int Utilities war. Irving Air Chute (1) Italian Superpow A. Kings Co Lt pf B(7). Kolster-Br ¢(Am Sh). Kress SH sp pf 60c. . Lackawanna Sec (4) Lake Shore Mines t2. Len Cal & Nav 1.20. Leonard Oil........ Libby McNeil & L Lone Star Gas n 88c. Lonyx Island Lt (60c) Louisiana Lan & Ex. Mapes Cons Mfg(t4) Margay Mass Util Assoc Mavis Bottling ( Mayflower Asso (2) Mead Johnson (15).. oh N Gas (60¢). tile Strs (1). n Gas & Oil. Pet vic A 22¢ ales— Add 00. Open. High. Low. 2:55. i Acetol Prod A....... 6l 6l 6% 61 5% 13% 9 5% 13% 9 1 0% Nat El Pow A (1.80). ¥ Nat Fuel Gas (1).. Mid West Ut (b8%).. 68 Mid'ld Steel Prod(2); 1 Midland Unit (b6%). Mid Wst St Ut(b8%) Miller & Sons..... Mo-Kan Pipe Lin Mo-Kan Pipe L (B).. Miss Riv Fuel bd rts. Mohawk Hud 1st(7).125s Mohawk Hud 24 (7). 25s Mont Lt H&P (1%)..1258 Mountain Prod (1) Municipal Servic 1 Nat Aviation........ Nat Bd & S Corp (1), Nat Centainer pf(2). 8 26 3 2 7 20 Nat Investors. . Nat Pow & Lt pf (6).150s NatPubSvA (1.60). 1 Nat Pub Sv pt (7)... 758 Nat Rubber Mach.... 2 Nat Screen 8v (2). Nat Service Co. Nat Sh T Sec A Nat Sugar NJ (2). Nat Transit (1)... Nehi Corp (60¢). Nat Family Stores % Nelson (Herman). New Bradford Oil. New Jers Zinc (13).. N Y Merchandise (1) NYP&LtpL (7)... N Y Steam Cp (2.60). NY Tel pf (6%). N Y Transport (2). Niag-Hud Pow (40c) Niag-Hud Pow A w.. Niag-Hud Pow B w.. Niag-Hud Pow C w.. Niag Sh Md (40c) =L K 141 17 13 5 4 Niles-Bemt-Pond (1) NIpISSIN. oo oennas Nitrate Corp Chile B. Noma Elec (40¢). Nor Am Aviat A war, NoAmL &P (b8%). Nor Wevpf (3)..... % North European Oil. Nor Ind Pub S pf (6) 50s Nor Ind PS pf (7). Nor Pipe Line (+4) Nor St Pow A (8) Nor St Pow pf (6)...100s Nor St Pow pf (7)...1008 N W Engineers (1).. 1 Novadel Agene (4).. 1 Ohto Copper. ........ 113 Ohio Oil cu pf () 1 Outhoard Mot A. Outboard Motor B. .. PacG&E1stpf1%. PacG &Epf137%%. Pac Western Ol Pan Am Airways. . Pantepec Ofl........ Parker Rust Pr (3)..300s Pennroad Corp (40c) 39 Penn Mex Fuel(75c) 4 Penn Wat & Pow (3) 1 Perryman Electric.. 9 Phila Co new(1.40). 1 Philip Morris Inc... 32 Phoenix Secur Corp. 42 Phoenix S C pf (3) 8 Pilot Rad Tube A.... 6 Pitney Bowes (b4 12 Pittsburgh&LE(110)150s 1 4 1 1508 5 Pittsbzh Plate G (2). Plymouth Oil (€5¢).. Premier Gold (12¢) .. Prudential Invest. 12 TSN 111(8)$100 par.100s Pub Sve of No 111 (8) 25s Pub Util Hold war. Pub Util Hold xw Pyrene Mfg Co (40c) Railroad Shares(40c) Red Bank. . Reiter-Foster. Reliable Store > Reliance Int A. & St 4 Seaboard Util 4 Stand Pwr & Lt (2).. Reliance Manag . Republic Gas Corp. Revbarn Co. 3 Richman Bros (3)...100 Richmond Radiator. Roan Antelope Min. . Rock Lt & P (90c). .. Roosevelt Field Inc. Rossia Intl (10c).... Rubberoid (4).... Ryan Consolidated. . nthony Gold.... s s Paper (60c) Salt Creek Prod 1.40. Schulte Real Estate. c). Sec Allied Corp (1).. Secu Corp Gen (40c). Segal L & H (a50c) .. Selected Industries. . Sle Ind al ctfs(532) .. Slet Ind prior(5%) Selfridge Prov Strs.. Sentry Safety Cont Seton Leather (1). Shattuck Den Min. Shenandoah Corp Shenandoah Corp pf. nger Mfz Co (116).270; Sinzer Ltd rets(28c) sto Finance Corp Smith (A 0) (2). Solar Refining South Penn O So Cal Bd pf A (1% SoCal Ed pf B (13%). e rmunmunat 3% u e a SWG&Epf () S W Gas Utilities, Spieg May Stern pf.. Stand Motors. Stand O1 of In¢ Stand Oil of Ky Stand Oil Nebr (2) Stand 011 Ohio t:‘,é).ZSB; Stand P & L (B) 3 Stand P & L pf (7 Starrett Corp pf (3 Stein(A)&Co pf 675 4 Stein Cosmetics. ... Sun Invest 3 Sun Invest pf (3) % Sunray Oil (b5%). 4 Swift & Co (2). Swift Internat’l (t4) Tampa Electric (32). Technicolor Inc..... Teck HughesGM 165¢ % Texas P& L pf (7).. Texon Oil&Land (1). % Thatcher Sec Corp.. Tcbacco & All Stks. . Tob Prod Exp (10¢). Todd Shipyarad (4) % Trans Air Trans. 4 Trans Lux DLP 8§ Tr-Cont Corp war. Tri-Utilities. ... i Tubize Chatel, B. 5 % 5% 2% Dividend ] payment. in It dividend. £ P § Elus 3% in stok a Plus stock stock. Tung Sol Lamp(1) Ungerieider Fin Cp. . Un Gas of Canada (1) Union Oil Assoc (2). Union Tobacco. ..... Unit Car Fast (40¢). Unit Corp war.... Unit Founders. ... .. Unit Gas Corp. ... Unit Gas Corp war Unit Gas pf (7) Unit Lt & Pw A Urit L & Pwr pf(6) U S Dairy (A) (6)... U 8 Dairy (B). . U 'S Elec Pow ww. ... U S Fin Holding. U S Finisning. U'S Inter Sec 1st pf.. USLinespf........ U S Playing Card 2% Unit Stores v.te..... Unit Verde Exten (1) Utah Apex Utah P & Lt pf Util P&Lt(at1.02 Ut P&L B(at1.02 Utl&Ind .. Utility Equities. Venezuela Petrolm. . Vick Financial (30¢) Walgreen Co. . Walgreen Co war. ... Walker (H) (50¢)... Walker Mining. ..... Watson (J W) Co. Wilson Jones. ....... Woolworth (FW)Ltd 164 Woolworth Ltd pf. 1 “Y" Oll & Gas... T oapRBnne BN o 0 8% % RIGHTS—EXPIRE. Peop G L & C.Jan15 8 3 3% 2% 10815 supply, market higher; 4 American Shipments to Elev- en Countries Gain During Month of August. d By the Associated Press. American exports to 11 countries in August increased slightly as compared with the previous month, although the total outflow to all nations declined. Increases were reported in the value of exports to Belgium, France, Greece, Norway, Soviet Russia, Sweden, the Dominican Republic, Ecuador, Peru, British Malaya and British South Africa. The total value of exports for the month, as announced by the Commerce Department, was $164,821,973, compared with $180,669,501 for July and- $297,- 765,469 in August, 1930. Imports for August were valued at $166,669,689, compared with $218,417,- 234 for the previous month and $220,- 558,356 for August, 1930, Exports to France and Germany were practically unchanged from July. Ex- ports to France in August were $8,106, 095, as against $7,391,610 in July and $16,131,032 in August, 1930. Exports to Germany were $7.873,019, compared with $8,286,252 in July and $22,784,378 in_August of last year. Trade with Great Britain dropped off approximately $5,000,000 between July and August, exports being $27,815323, against $32,564,029 in July. Exports to Canada were $30,578,832 in August, against $32,676,645 in July and $53,- 738,886 in August last year. Exports. Europe . North America South America sia A Ocearia Africa Totals . . $297.765.469 Imports. August, 1930 Europe 2 $63.502.236 North America 55.120.372 South America Oceania Atrica Totals . $218.417.234 Imports from France were $6.551.067 in August, compared with $8,804,866 in August, 1930. Purchases from Germany 1$14,340,004. 5 Purchases from Soviet Russia were $729,557, compared with $2,116,200 in August a year ago. Imports from Canada were $20,52: 306, against $29.279.842, and from the United Kingdom, $11,508,736, against $13,833.660. American_purchases from Cuba were almest double those of August, 1930. Imports from the island republic total- ed $12,470,869 in August, compared with $6,554,514 in August of Jast year. Imports from Japan showed a heavy drop, purchases for August totaling $16,- | 052,258, against $25,246,686. Baltimore Markcts Special Dispatch to The Star. BALTIMORE, Md., October 5.—Po- tatoes, 100 pounds, 75a1.20; sweet pota- | toes, bushel, 40a60: beans, bushel, 50a 11.00; cabbag>. bushel, 25a35: carrots, | per 100, 2.50a3.50: beets. per 100, 1.50a |2.50; corn, per dozen, 10218; eggplants, | hamper, 40a50; lettuce, per crate, 50a |3.50; caulifiower, crate, 1.00a2.00; cel- 2 |ery, crate, 150a2.25; lima beans, ham- 41, | per, 50a1.75; okra, hushel, 1.00a1.50: , hamper, 25a35: onions, per 100 1.75a2.00. spinach, bushel, 50a ; tomatces, hamper, 25275, canners’ stock, bushel, 40a60; apples, bushel, 40a 1.25; cantaloupes, crate, 1.10a1.75. Dairy Market. young, 20a! 18a; 12al Chickens, 20; old hens, roosters, Leghorns, old, ducks, 13a31; pigeons, Receipts, 531 cases: current re- 5223. hennery whites, 28a30; firsts, 24a25; Western firsts, 30235; ladles, 20a22; | store packed, 15a16. Live Stock Market. Cattle—Receipts, 1,200 head: | supply; market dull. Steers—Choice to prime, none; good to choice, 7.00a7.50; 6.00a7.00; fair to medium, 5.50a6.00; process, 23a24; plain, 4.2525.00. Bulls—Choice to prime, none, good to choice, 4.50a4.75; medium to good, 4.00 a4.50; fair to medium, 3.50a4.00; plain | to fair, 3.25a3.50; ccmmon to plain, 3.00a3.25. Cows—Choice to prime, none; good to_choice, 4.25a4.50: medium to good, 3.7584.25; fair to medium, 3.25a4.75; plain to fair, 2.25a3. common to plain, 1.50a2.25. Heifers—Choice to prime, none; good to choice, 6.00a6.25: medium to good, 5.7526.00; fair to medium, 5.25a5.75; plain to fair, 4.75a5.25; common to plain, 4.00a4.75; fresh cows and spring- ers, 30.00a60.00. Sheep and lambs — Receipts, 6,000 head; moderate supply, market lower; sheep, 1.00a3.00; lambs, 3.50a7.75. Hogs—Receipts, 3,300 head; light sup- ply, market lower; lights,’ 5.8586.01 s medium, 6.1026.35; iight pigs, 5.50a5.80; | heav 5.6026.15; roughs, 4.00a5.00; pig: 6026.10. . | Calves—Receipts, 500 head: light calves, 4.00211.00. ol Hay and Grain Prices. Wheat—No. 2 red Winter, export, no quotations; No. 2 red Winter, garlicky, spot, domestic, 46':; October, 46's; November 48. Corn—No. 2 yellow, domesti 51a52; cob corn, 3.00 per barrel. :{ Oats—No. 2 white, domestic, 31a31'%; No, 3, 30a30%;. Rye—Nearby, 45a50. Hay—Receipts, none. New hay is starting to arrive in increasing quan- | tities, but so far no official grading has been attempted, selling being sirictly on merit. Demand for old hay slow and market is dull and quiet, with prices in buyers' favor at a range of 14.00a18.00 per ton. » Straw—No. 1 wheat, 9.0029.50 per ton; No. 1 cat, 9.00a10.00 per ton. spot, spot, U. S. TREASURY BALANCE. ‘The United States Treasury balance announced today as of close of business October 2 was $591,483,177.77, Cus- toms receipts for the month to date were $3,017,758.20. Total ordinary ex- penditures were $9,897,989.89. SILVER QUOTATIONS. NEW YORK, October 5 (#)—Bar silver 7 higher at 287%. NEW YORK BANK;TOCKS the-counter market: America .. Chase .. Chat Phen Commercial _Natio First National N. 254 rate; in doliars based on last quarterly or semi-an- cash us 5% or_stock. in stock .k Plus » Paid i 0%y Inst 8% in siock. SEx aividend tPartly extra. tock. b Pavable in n’ stock. year—no h Stock ‘resular rate, Plus 1 Stock. ek $adiustient 5 Plus 1% mPle 3% 1w Empire .. Suaranty Irving Manufactiire New York.... totaled $11,373,126 in August, against Leghorns, | piyms, 3 pair, 15a20; guinea fowls, pair, | good | medium to good, ; plain to fair, 5.00 to 5.50; common to | NEW YORK, October 5 (#).—Over- | Aiding Market, But Its Effect Is Not Yet Apparent. BY CHARLES W. STORM. Editors the News Bervice of Wall Street. NEW YORK, October 5—It has been & long time since the financial district be%ln the last }mner of the year with 0 little to look forward to of a favorable nature. With prices of stocks new Jow levels and with business at a new low bottom, it is hard to muster much courage, Expressions of hope have been blasted so many times that the impor- tant ople in the Street refuse to hnlln}’e any guess as to what may be expected the remainder of this year. One opinion is considered as good as another inasmush as ‘whose opin- ions have all along been thought worthy of consideration havé been steadfastiy wrong. Source of Consolation. Notwithstanding the general gloom there is some consolation being derived from the fact that some of the wealth- iest people and estates are now pur- chasing stocks for long-term invest- ment. ‘The purchases are being made on a scaledown, so that the eflect of the buying is not being reflected in the ac- tion of the general market, but the| cumulative effect of these purchases is expeggd to find reflection in prices as soon there is a let-up in liquidation, which has been coming from all parts of the world. Middle West Selling. A considerable amount of liquidation has been coming from the Middle West, | and it would be surprising if some un- favorable news came from that source in view of the urgent manner in which good stocks have been sold from that | source. Offerings are declared to hav and Detroit. The tenseness in the banking situa- | tion throughout the country is believed | to have disappeared in most instances, | but the street is expecting announce- | ment of anoher New York bank merger in the near future, one that would be considered a constructive step in the readjustment of banking affairs. It would seem from a glance at the percentage of decline which has oc- curred in the stock market the last two years and the shrinkage in brokers’ loans as well as bank loans, that everything possible has been liquidated. The average prices of 30 industrial stocks have declined more than 30 points in ithe last month to a new low level Brokers’ loans declined more than $300, 000,000 last month to the lowest level since records have been compiled. Total brokers’ loans at the beginning of this month were approximately $1,044,00 000, which compares with the peak fig- ure of $8,§49,000,000 in September two years ago, ‘There are still a large number of people with money who are either sell- ing securities or refusing to buy. The chief reason for this condition is the prevalence of fright and the desire for self-preservation, Business Revival. It was expected weeks ago that there would be some seasonal improvement in general trade and industry with the be- ginning of the Fall season and the ex- | bectation of this expansion in trade buoyed up the hopes of those trying to take a constructive view of the eco- nomic situation. But recent statistics have sHown that no improvement in business is discernible and that enough time has passed to warrant the predic- tion that there will be no expansion the remainder of the year. The Street, therefore, has postponed hopes of trade betterment until the turn of the new year, Domestic Developments. Foreign financial conditions hav: quieted down to the extent where thcy are becoming less of an immediate ip- '+ | fluence on price fuctuations of stocks. | 4 been chiefly from Pittsburgh, Cloveland | L1¢ trend of prices in the immediate | With an increased run. future will, therefore, be dependent upon domestic developments, The financial district has hopes that something constructive will develop out of the proposed conference of President Hoover with Premier Laval of France and the visit to the White House last | week of Bernard M. Baruch, who is con- sidered one of the ablest of America’s economists. (Copyright. 1931, by the North American _. Newspaper Alliance, Inc.) Washington Produce Butter—Oné-pound prints, 37; tub, 36. Eggs—Hennery, 30a32; current re- ceipts, 20a24. Poultry, alive—Spring broilers, 3 pounds and over, 25a26; 2 to 2% | pounds, 24a25; 1': to 2 pounds, 23a24; Leghorris, 22a24; hens, large, 23a24; small, 21a22; roosters, 14al5. | Dressed—Turkeys, old toms, 30a32: Spring broilers, 3 pounds and over, 30a 32; 2 to 2'. pounds, 29a30; 11. to 2 pounds. 27a28; Leghorns, 27a28; hens. | large, 25; small, 21: roosters, 15; Long Island ducks, 21a22. Meats—Beef. prime, 16a17; choice. 15a16: good, 14a15: medium, 12}zal fair, 11a12; ow, 81:a9; lamb, top, 1 medium, 15a16; veal, top, 17. good, 15a16; pork loins, 8 to 10 pounds, 22a 23; 10 to 12 pounds, 18a19: 14 fo 16 pounds, 15a16; fresh hams, 19; smoked | bams, 21; strip bacon, 22a23:’ lard, in bulk, '9},a10; in packages, 101all. Pruits—Watermelons, 15a30; canta- | loupes, 1.25a3.00; apples, Delicious, 1.00 al.25; Winter bananas, 1.25a2.00; near- by, 50a1.00; crabapples, 1.50; peaches, | 5082.00; pears, 1.75a2.50; honeydews, | 1.25a1.75; Persian melons, 1.75a2.50; oranges, 2.75a5.50; lemons, 9.00a10.00; limes, per 100, 1.75a2.00; grapefruit, | 5.00a5.50: grapes, Tokays, 2.00; Thomp- | son, seedless, 2.25: cranberries, 2.25a 2.50; dzmsons, 1.00; quinces, 1.75a2. bananas, 1.75a3.00; persimmons, 2.00; Vegetables—Potatoes. New Jersey, 150-pound sacks, 2.00: Long Island, 2.15a2.25; Idaho bakers, 100-pound sacks, 2.25a2.50; sweets, 50a75; string beans, 1.00a1.25: limas, 1.75a2.00; egg- plant, 1.00; turnips, 75: carrots, crates, .25; cut-off, per bushel, 1. beets, per dozen burches, 35; peppers, 50a75; caulifiower, New York, 1.25; Western 1.7522.00; lettuce, Iceberg. 3.50a4.00; New York, crates, 1.75; celery. 2.75a | 3.00; corn. five-dozen sacks, 1.50al1.7: peas, crated, 5.00a5.50; baskets, 3.00a 3.25; mushrooms, 1.50a1.75. MARYLAND TOBACCO PRICES 1 BALTIMORE, October 5 (Special).— | The market for Maryland leaf tobacco | showed little change last week from the | 0 previous weck with receipts of 511 | hogsheads and sales of 734 hogsheads, | which left a stock in State tobacco | warehouses of 16.278 hogsheads. tations today for Maryland leaf to- bacco per 100 pouncs: Frosted and inferior, 3.0026.50; sound to good com- mon, 7.00a20.00; medium to good, 20.00 a36.50; good to fine red. 40.00a54.00: fancy, 54.50a55.00. Seconds—Common to medium, 6.00a30.00; good to fine, | 31.00a44.00. Upper county nominal. Quo- | tF New York Cotton Special Dispatch to The Star. NEW YORK, October 5.—Cotton prices were unchanged to 5 points higher at.the opening of the exchange today. October was strongest on a moderately large volume of trade purchases and short covering. Commission house liquidation was heaviest in distant po- sitions, but even here covering served to check any decline. Opening prices were: October. 5.48, up 5; December, 5.63. up 2; January 5.73. up 1; March, 592, up 2: Ma) 6.08. unchanged, and July, 6.26, un- changed. Grain Market By the Associated Press CHICAGO, October 5.—Fresh down- turns in grain prices early today ac- companied lower quotations on securi- ties. All deliveries of corn reached a new low price record for the seascn. Wheat deciines were in the face of al- most 5,000,000 bushels decrease of the amount on ocean passzge. Opening ': cent off to '« up, wheat afterward held near the initial range. Corn -started %-3 down, but later rallied. ‘Wheat and oats as well as corn out- did the season’s low price records. Big receipts of corn rere, 451 cars. com- pared with 197 at this time last year, had an immediate bearisk. effect. On the price setbacks, however, buying in- creased, causing wheat and corn to rise temporarily to above Saturday's close. Offerings of wheat at Liverpool were reported smaller, especially from Ar- gentina. Helping the wheat rallies was notice taken of announcements that the Fed- eral Farm Board would authorize wheat sales by the Grain Stabilization Corpo- ration to relief agencies, and would ac- cept deferred payments. There were also estimates that 1931 wheat produc- tion in 35 countries now stood at 2.997.- 00,000 bushels, against 3,140,000.000 bushels in the same countries last year. Futhermoye, bulls contended that the lower wheat prices went the better was e value, as well as the greater the prospect of reduced production. Provisions reflected downturns in hog values. - Discount Rate Raise. TOKIO, October 5 (#).—The Bank burley, of Japan today raised its discount rate | from 5.11 per cent to 5.84 per cent. Cooler Weather Brings In- creased Demarid for U. S. Meat Trade. BY FRANK I. WELLER, Associated Press Farm Editor. Cooler weather, bringing a better dressed meat trade, has helped almost all live stock prices. Fat lambs led the upturn, gaining 50 to 75 cents at East St. Louls, 25 to 65 | cents at Omaha, 25 to 50 cents at Chi- cago.and 25 to 35 cents at Kansas City. Scarcity of choice stock, both native and Western, has considerable influ- ence, and killing classes almost uni- formly shared in the advanca. Chicago killers and shippers were lit- erally lamb hungry until near the end of the week. As prices rose, the larg- est receipts of the season broke upon the market, and there was a sharp set- | back. ~ Despite late reverses, it was & | satisfactory market to sellers, taking 'the week as a whole. Hogs Higher. Hogs,struggled from new lows to fin- ish higher than a week ago. They gained 10 to 15 cents at Kansas City | after selling the cheapest in 23 years. | The top at the extreme low was $5.10, | but at the close of the week was up to | 85.30. East St. Louis paid a top of |1 85.60 after advancing 10 to 25 cents over last week. heavy hogs making most of the rise. The undertone at Omaha | was the healthiest in some time, After a top of $5.50, the lowest of the | season and unmatched since early 1908, | Chicago paid $5.70, the same as a week |ago. The fresh pork market was fairly | active, with the result that hog prices | did not sink as rapidly as is customary Receipts were 25 per cent larger for the first four days than for the same period & week ago. Light and underweight hogs again comprised the big end of the run, while heavy butchers and packing sows, which closed strong to 15 cents higher, ar- rived in dwindling numbers. Light lights were particularly plentiful early | In’ the week, and prices dropped abrut- |ly, but a reduced quota arrived after | the price slash, and values were built up quite rapidly. Lard prices regained the previous | week’s losses. | Heavy-fed steers turned the tables again on yearlings, good to choice of- | ferings gaining 25 to 40 cents at Chi- | cago_under a short run and wide de- mand. They were up 50 cents at Kan- sas City, shared the fullest advance at Omaha and were steady at East St. Louis. The $10.40 top on heavies at Chicago was 5 cents above any time this season, while the rough heavies at $8.25, as | well as better kinds at $9 to $9.50, are standing at practically a new high for the season. Steers Set Price. Grade steers weighing 1,200 pounds are setting the price pace because of increasing scarcity and a very healthy dressed beef trade, both on kosher and regular account, The general beet | market remains healthy, and aside from +the seasonal tonnage of grassy and | short-fed beef there is no cooler sur- plus. Even grass beef holdings are not sufficiently large to materially weaken that branch. The better market on heavies is | forced, while numbers give buyers the leverage on long yearlings. They have held the best of the latter down to $10. | Whether this twist will continue is a guess, but the trade seems to believe finished weighty bullocks will become even scarcer, and that the excess of long vearlings, the origin of which is perplexing, stands a good chance of thinning down. _If true, some say heavies will con- tinue to lead and gradually work to a top of perhaps $11. while the kinds of long-fed high qualitied vearlings now selling at $9.50 to $10 may follow but not top the bullocks. The trade is making the prediction on the fact that all classes of cattle are relatively high compared with other live stock and agricultural commodities in general. | "So sar the principal reason for the advance in cattle has been a snappy dressed beef market. It is not to ge overlooked that cooler weather improves the demand for other meats, and that it could send the public to the rela- tively cheap pork counter and weaken the call for the more expensive com- modity. TOMATO CANNING CROP. BALTIMORE, October 5 (Special). The Maryland crop of tomatoes for canning in 1931 is forecast at 101,400 tons. or about two-thirds of production in 1930. Acreage and yield per acre \are both substantially lower than last vear. It is estimated that there are about 39.000 acres of tomatoes for can- ning this year. compared with 48,900 acres in 1930. Yicld per acre this year is now indicated to be 2.6 tons, against |3.1 tons harvested last year. foreign trade in ferrcus products is declining. \ Associated Gas and Electric Company and Subsidiaries (Consolidated) A decade of high stability and of ample earnings to pay interest on Associated Bonds Gross Year Earnings 1921...... § 1,560,005 1922 2,856,419 1923 3,477,067 192: 5,658,573 1925 19,451,147 1926..— 29,283,288 1927..— 35,296,741 1928..— 36,291,869 192 79,540,914 1930... 93,623,052 fotal. $307,039,075 19311, 91,654,256 Added properties are included only since dates of acqui 112 months ended August 31, 1931. Net Earnings§ 471,443 962,079 1,322,327 2,161,366 7,878,303 13,761,310 17,032,086 18,001,592 43,240,956 48,298,913 $153,130,375 46,156,420 Interest* and Underlys Times Earned Before After, $ 196910 450,838 556,823 1,048,523 3,876,144 7,467,324 8,540,616 8,493,933 21,125,996 22,500,777 2.10 1.82 2.05 1.78 1.76 1.62 179 1.90 1.89 1.93 1.85 1.80 212 2.05 2.15 2,06 2.07 $74,266,884 22,279,314 § After small interests in common stocks held g Pfd. Dividends Depreciation Depreciation Provision for Balance After Retirement of Fixed Capitali Interest®and Amount 9 of Gross Deprecia $ 56374 36 § 218,159 125,046 377,195 179,822 585,682 289,414 * 823429 1,036,112 2,966,047 1,627,193 4,666,793 1,698,731 6,792,739 1,830,454 7,677,205 3,371,077 18,743,883 4,849,193 20,948,943 $15,063,416 6,035,000 $63,800,075 17,842,106 on. by minorities. @ Includes interest on all debt (except interest on debenture obligations convertible into stocks at Company's option), and dive dends on preferred stocks of subsidiaries held by the public, less credit for interest during construction. # Renewals and Replacements—Depreciation. During the ten-year period $18,571,749 was expended for ordinary maintenanca Total Consolidated Net Earnings fof the above ten-year period averaged, before depreciation, 2.06 times, and after depreciation, 1.85 times the above actual interest and dividend charges for that period. on the “overall” basis. For the twelve months ended August 31, 1931, actual charges were eatned 2.07 times before depréciation and 1.80 timres after depreciation. Similarly, taking standing, ended August 31, 1931, before depreci curities owned and charges on securities out- s they existed on August 31, 1931, net earnings for the twelve months ion and Federal Income Taxes, were over 2.08 times and after depreciation, 1.81 times such annual charges. Over 909, of the gross operating revenues is derived from best classes of businessi=e Electric and Gas operations, 61 Broadway @ New York