Evening Star Newspaper, October 18, 1931, Page 74

4 FINANCIAL., THE SUNDAY BONDS ARETEADY N QUET MARAET Treasury Group Shows Firm- er Tendency—Some Rails Are Heavy. BY ALEXANDER HENDERSON, Associated Press Financial Writer. NEW YORK. October 17.—The boni market was about steady today, with the United States Government group showing & much steadier tone in quict | trading. High-grad> rails were mixed. The Treasury 3'gs, 3s and 4s firmed on small turnovers, while the Liberty group was inactive. The dullness con- | trasted sharply with the heavy selling of Government securities yesterday. Some heavin appeared in such rails as Atchicon neral 4s and Dela- ware & Hudson 4s. However, Frisco 47,8, Illinois Central 47;s and New York Central 5s rallied a point or| more. although demand was light. | American Telephone issues eascd selling pressure lightened and Io. were nominal. The utility division gen- erally showed narrow changes over the previous close. In the industrials higher prices prevailed for Chile Copper &=, Goodrich ~ 6':5 and International Match 5s. German _ government _obligations strengthened slowly, the 7s rising about a point. French 7s and Italian 7s were other firm spots. CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, October 17.—The fol- Yowing is today's summary of important corporation news prepared by Standard Statistics Co.. Inc., New York, for the sociated Press. News Trend. According to the week end reviews | of the commercial agencies, there is & | certain amount of optimism in the re- | ports from the leading cities. Cooler weather has stimulated trade. largely in the clothing and dry goods lines and in_ heating and electrical fields. The constructive steps recently taken to aid banks in their problem of frozen assets has also caused a more confident feeling. The Companies. Alpha Portland Cement defici months to September 30. $382.975, vs. | net income, $1.280.017, equal to $1.60 a common share. Barker Bros. common share earn- ings. 9 months to September 30, 2 cents vs. 20 cents. Kendall Co. net income, 36 weeks to September 5, $301.630, equal to 37 cents & common share. vs. deficit, $59,171 Railway & Utilities Investing liqui- dating value, September 30, 1931, $27.75 | a combined preferred share, vs. $77.87 September 30. 1930. Cleveland-Cliffs Iron to get about $660.717 in_ dclayed dividends on Youngstown Sheet & Tube stock. Continental Shares to get about $31 091 in delayed dividends on Youngs- town Sheet & Tube stock. Du Pont (F. L) De Nemours & Co. preliminary earnings report shows $1.11 per common share for third quarter vs. $1.04 on slightly larger number shares in 1930 period: 9 months placed at $3.34 vs. $3.88 First National Stores third fiscal quarter earnings expected to approach $1.41 earned in preceding quarter: re- ported §1.20 a share for like 1930 quar- ter. Fyr Fiter Co. declared 25-cent quar- terly class A dividend; formerly paid 50 cents General Electriz employes sanction plan providing for division of work, so that during six months beginning No- vember 1 they will receive not less than equivalent of one-half their average weekly earnings. Grand Rapids Varnish common share earnings, nine months to September 30, 44 cents. Market Street Rallway September net, before depreclation and Federal taxes, up 4.7 per cent. Mohawi: Mining reduced wages 10 to 15 per cent Noranda Mines, Ltd. and smelter at capacity, duction about $100,000 a Timken-Detroit Axle—S: ken-Detroit oil burners continued to ru 30 per cent ahead of 1930 period: abo: 65 per cent of current sales were for €ash and 35 per cent on time. Chicago. Milwaukee, St. Paul & Pa- cific Railroad—About 1,350 men em- ployed at shops. Standard Oil (New Jersey) cuts prices bulk gasoline one-half cent a gallon be- concentrator h gold pro- refrigerator | High. 10223 103 16 105 5 103 16 103 18 107 22 109 22 114 8 10128 Low, 99 99 20 100 21 95 98 100 1931 — High, 10915 111% 8 70 1024 1011 100’4 4814 101 701 47 111 10614 102 107% 98 23 100 9314 106'% 9213 10874 1139 100 111 12 88% low 65 octane number and one-quarter cent above that figure. Atchison, ‘Topeka & Santa Fe. re- ported inquiring for 40.000 tons of rail. Radio_Corporation of America—Sub- sidiary R. C. A., Radiotron, cuts prices of Radiotron and Cunningham tubes ranging up to 40 per cent; fourth cut since 1930, making present prices about 50 per cent lower than those prevailing prior to July, 1930. FLOATING STEEL STOCK SUPPLY SHOWS DECLINE By the Associated Press. NEW YORK. October 17.—The float- ing supply of United States Steel Cor- poration common stock, as indicated by stock in brokers’ namy declined 104.681 shares in the three months ended Sep- tember 30, to a total of 1,145,363 shares or 13.16 per cent of the total issue of 8,703,079 shares outstanding. As of September 30 last floating supply amounted to 1,612,599 shares. or 1860 per cent of the total issue of 8600278 shares then outstand- ng. Holdings of investors at the end of lest month amounted to 7,557,716 s| es, | or _F,fl 84 per cent of the total, against| 7.451.327 shares, or 85.63 per cent June ! 30, and 7.056.679 shares, or 8140 per | gent September 30, 1930 TForeign holdings of common stock Beptenber 30 totaled 196,416 shates, or 226 per cent. compared with 190.868 shares. or 219 per gent, June 30, and 173,824 shares, or Z per cent, Septem- ber 30, last year. i P S BUSINESS MACHINE CO. INSTALLS TRANSLATORS | Epecial Dispatch to The Star. _NEW_YORK, October 17.—Interna- | tional Business Machines Corporation ! has completed the installation at the League of Nations headquarters, Ge- neva, Switzerland, of a translator which will permit addresses to be translated simultaneously into six different lan-| guages for 700 international delegates. _This is the first permanent instalia- tion of the translating system, the pat- ent rights for which were acquired only a few months ago by the corporation from Edward A. Filene, Boston dry goods merchani, and economist, A sim- lar permanent system is shortly to_be installed at the Permanent Court of In- :rxéutionnl Justice, The Hague, Hol- nd. year, the BALTIMORE MARKETS. Bpecial Dispateh to T BALTIMORE, Ociober Bales STOCKS. 4'C & P Telephone Bal 45 Commercial Credit pfd 5 Consolidated_Gas_com 10 Fidelity & Deposit Co. . 12 Finance Co of America 30 Merchants_& Miners Trans 33 Northern Cent R R com 30 New_Amsterdam Cas Co. 40 Pa_Water & Power.. €0U 8 Pidelity & Guaranty. 8 17— 9% 10214 103% 93 100 97N ™ 78 65 95 100 4l 110 b7 1 60 1247 31 Tow. UNITED STATES GOVERNMENT. Stock and dividend. High. Lib3%s 1932-47.....1C0 & Lib 15t 4148 193247, 100 20 Lib 4th 414 1933-38. 101 6 US3%81910-43, U S 388 1943-47, U S3%819486-5 U S 451944-54. US4%s 1947-5: 2 16 16 3 Stock_and dividend. Abram & Straus 5% s'43. . Alleghuny CG cv 53 '44. . Am Beet Sugar 6s '35. Am Chain 65 1933 AmIGChm5Y%s Am Internation 5% Am Natural G 6% Am Sm & Nef 1st Am Sugar Ref 6s ‘37 Am Tel&Tel cv 4%s'39. Am Tel & Tel s f 53 Argentine 6s June '59. Argentine 63 A '57.. Armour & Co41:8 Armcur of T High. 917 481, 948, 77 7% 134 . 100 103 116 103" AtChT &S F Atch To & S Fe 4145 4] Atlantic C L 1st 48 '5: i Atl Coast Line 4 %8s '€4. Atlantic Ref deb 6s'37 Austra'la 58 '55 Austria 7s"43... B&Ogold 4548 B&Ocv4aks 3. Balto & Ohio 534 B &O1ef 5595 B & O ref 6s D 2. Balto & Ohfo 6s 'S5 B&OPLE&W Va4 B&OS W DIv 53 50 Bank of Chile 6%8'57. .. Bank of Chiie 635 1961 Belzium 6s '55. Bell Tel (Pa) re Beth Steel p m 53 '36 Bolivia 7s ct 69. Bordeaux s '34... Boston & Maine 58 '67 Brazil 1926-57 Brazil 8s 41 5 Brooklyn Manh 1at 6s A Brooklyn Unlon 58 ‘50 Canada 5s 62 Canada National 4%s'54. Canadian Natl 4148 '57. Canadian Natl 4755 ‘68, Can Nat Jul, Centra: Pacific 4s 49, Central Pacific 5s 1960. 3 Certain-teed 51 s 1948. Chesapeake Corp 58 '47.. Ches & Oh gen 415892, Ches & Ohfo 44893 A Ches & Ohio 4%s B '95. ChiB&Q4%s 877 Chi B & Qref5s’31. Ch & East Il gen 68 '51. Chi Great West 45 '69. 4 ChiM St P& P5s'75. Chi M St P& Padj 5 Chicago&Nwn cv 4 %8 Chi& N W 6%s'36 2 Chicago Rys 5s '27 Chi R 1& Pacref 4s'34... Chicago Rock 15l 4145 '60 Chicago R 14348 A....... Chi Union Station 4 A4S. Chi Union Station 6% Chi & West Ind con 4 Chi & West Ind 5%s '6. Chile Republic 65 1960 Chile Copper bs '47 Chinere Govt Ry 55 '51. SCC&StLIf4%sET CCC&StL6sD.. Cleveland Term 6s B'73.. Cleveland Terminal 6% Colombia 6s 1961 Jan. Colon Oil 63°38. . : Colo & Sou ref 4345 * Columb G & E deb 536 Comm Invest 514849, Con Coal (Md) Istref 5s. Copenhager §3°52., Cuba R R 6862 Cuba North bs "42. Czechoslovakia 85 '51.... Del & Hudson 6% '37 Denmark 5% 1956. Denmark s ‘42. .. . Den & Rio Grande cn 4s. . Den & R G West 53 '55 Den & R G West 63 '78 Detroit United 4%8'32. Dodge s '40 . Duquesne 4155 1967 . Dutch East Indies 6s'47. . Dutch East Indles 65 '62. . East Cuba Sug g fe gen llen 4596 ie ref 5367 Finland 7s ‘50 Flor East Coast 5s 74, FondaJ & G 4%5'52... French 7s'49. French T%s'41 Gelsenkirchen Min General Cable 58 1947 Gen Motors 6s 37. Ger Gov 5165 '65 wi. German Bank 6s 1938 German 78*49........ .4 Goodrich (B F) G148 '47 Goodyear Rub bs 1957. . Grand Trunk s £ deb 6 Grand Trunk 78 40 Great North 48 ‘T Great Nor gen 5% Great North gen 73 Greek 651968, . Hudson & Man adj 5857 Hud & Man ref 58 '57. Humble O & R 5%s '32 Illinois Cent ref 48 ‘55 Illinojs Central 438 '66. Inland Steel 4158 1978. . Inter Rapid Tran 53°66. Inter Rap Tr 6s sta ‘66 Icter Rapid Tran 63’3 Inter Rapid Tran cv 7s. Inter Cement Gs 48 Inter Gt Nor adj ‘65 Inter Match bs'47. cen Inter Mer Marine 63 '41.. Inter Paper 5s A '47... 100 10128 102 100% 31 36% 100 9416 04 16-5. 9516 95 16-4.06 98 3 98 8 100 9930 5 6 917 461 25 9313 (3 75 12 98% —1% | 103 115 Net Low. Close. Chge 99 2 99 2-1.06 99 20 100 .30 15 2, 8 .30 Net Low. Close. Chse. | i) ~8% | ~1% -1 —1% -2 -3 100% —3 401y —1931.— High. Low. Stock and dividend. 96 50 Int Tel&Telcv 4%s 100% 79 Italy 78 ‘51 107% 964 Japanese 6%a 813% 65 Kan City South 102% 68 Kan City South 9814 831 Kan City Ter 1si 100 88 KanGas& 71 39 KKendallfip 94% 461, Kreuz&Toll bsct wi” 105 95 Lackawanna Steel 68 ‘80 103% 80 Laclede5%s D ‘60 89% 61% Lehigh Val cn 48 2003, 109 997 Liggett & Myers bs 99% 82 wLoew's Inc 65 ex war 101 85% Lorlllard 5%s'37 100 90% Louls & Nash unf 4s"40.. 981, 84 Market St Ry 7s A 40, 10 1% Mexico 45 1904-64 | 98 Midvale Steel 6836, .. | o 57 Milan 6%s'52 961; MIIEIR& L 1 724 Mo Kan & Tex 18t 4s ‘9 ', Mo Kan & Tex ad) bs '8 774 Mo Kan & Tex pr In 68A. 12 Mo Pacific gen 4875, Mo Pacific 63 A '65. Mo Pacific Gs ¥ 53 Mo Pacifio 68 G ... 55 flc 55 H ‘30, 9415 Montana Power bs 1943.. 35 Nassau Elec 4861, 8715 Nat Dairy Prod 63 Netherlands 6s 72, New England Tel b3 '53.. New South Wales ‘57 s N Y Centdebds'34... N Y Cen ref imp 58 2013.. 93 951 N Y Cent deb 65 '35 . 101 42 NY Chicago & StL 4%8 78 48 48 NYCh& SLref6y%sA.. 59% % N Y Chi & StLouls 6s '32. 75 ¥ Edison 18t 6148 41, YNH&Hart 4% YNH&HecItS Y N H& Hcv deb High. 61% e B9 vee 100% 684 90% 91 bl% 52 99 93 67% 103 89% . 99% 9214 90 3 9914 66 101% 78 59 82 4815 67 67 66'4 66 100 P 9% 1017 108 41 R N N N N N Y Tel 414539 NY Wes & Bos 41484 Norfolk & W cn 48'96. 15 North Amer Ed 1; North Pactfic 38 2047 North Pacific 48 ‘97 15 North Pacifio r 165 2047, 100% 98 Northern States Pow bi 791 Norway 6%s. 801 Ore Wash 1st ref & 100% Pacific Gas & El 101% Pacific Tel & Tel 101'3 Pan-American 6s ‘34 60 Para-Fam-Lasky 6s" 934 Paris-Lyons-Med 6s ‘6 14 Paris Ovleans b4 196 Penna cn 415 1960 871 Penn gen 412 '65 72% Penna RR 4% 80% Penn 4%8'63.. 93 Penn bs 1964. 93 Penn gen bs'68.. 1004 Penn 6% 5's Peru 97y Peru 85 Philadelphia Co b8 '67.. 34 Phil&Read C&l 65 wi'49. 50 Philips Petrolm 6% 8'39. 85% Pireili Coof Italy 78 '62 45 Pittsbgh&WVa 435 C 6 Poland 88 '50. Postal Tel & Cab 36« Queensland 65’47 50 Queensiand 7s41... 861y Reading 4148 °97.. 50 Reming-Rand b%s 47 3 Rhineibe 7s. . 30 Rhine Westph; 14% Rio de Janeiro 88 10 Rio Grande Do Sul 66 Rio Grand West col 4 70 RIATK & L 4%3°34. €0's Rome 6%8 '62...... A1 SLIM&SR&G 4333 4 StL&SF prin4s A 50 23 StL&SF4%8"8. 501 St L & San Fr 68 B '6 66 StPKCS Linedl 60y St Louts S W con 4332, 2813 Sao Paulo State of 85 '36.. 6 Seaboard A L con 684 103y Seine Dept of . 29 Serbs,Croats&Slavis'el.. 30 Serbs Croats Slov §s ‘62 75 Sinclair Ofl 1837, . 9315 Sinclair Crude O1l 6348, . 90~ Sincialr Pipe Line 6s 43 103 Southwes Bell Tel 65'54 71 South Pacific col ¢s ‘49 83 South Pacific ref 4s'55... 70 South Pacific 4148 '68. 66 Southern Pac 4%s 69 ww 81% Southn Pac Ore 445 °77.. 501 Southern Ry gen 4s ‘66. Southern Ry 1st b8 '94 Southern Ry gen 68 56, 71% South Ry dev 6% 99% Stand O N J bs... 90% Stand OIIN Y 4% 981, Swiss 5%s 46 68 Texas Pacific 58 66 Texas Pacific bs C 39 Third Ave 1st ref 4 23 Third Avead) bs'60. 69% Toho Elec Pwr 7855 92'y Union Pacific 79 Union acific 8214 Un Pacific ref 4 90 United Drug 65 ‘G 92 Utd Kingdom 4% U S Rubber 1st & ref Uruguay 6s 1960. 1024 105% 111% | 110% 40 61 104 83 9214 108% 96 20 T4% 8 100% 91y 100t 45% Utilities P & L 6%8'47. 55 Vienna 6s 1952 97 Va Ry & Pow 94 Virginia Ry 1st 26 Wabash 4%s 1978, 88% Wabash 1st 58’39 30 b: 29 30 20 25 Walworth 6% 26 Warsaw 7s 1958 80 West Shore 1st és 2361 53% West Maryland 4s '63. 53 West Maryland 6%s 54 Western Pacific b B 103 Westefn Union Tel 6348 8215 Wilson & Co 78% Yokohama 6: 75 You STAR, WASHINGTON, Low. 55 8% 7 65 0 83y 88 51% 49 97 90 61% 100 87 93% 0% 88 24 98Y% 6213 7 74 b7 80 41 63 62 61 611y 94y 44 92 101% 106y 394 96% 891y 1004 42 1004 1024 1% 3 9% 60% 89 92 5% 82 92% 991y 82 83 6674 1014 102% 101% 70 95 92 96 870 T8 8lly 9813 998 103 T 13 92 NEW YORK STOCK EXCHANGE (Continued From Page Tw Stock 2nd Dividend Rate. Tnit Gas&lm pf(5). Tnit Piece D W (2). x Unit Piece DWDL 614 S Distributing. Bales— Add 00. 20 9 1058 981y 14% 105 orn Secur. .. or Sec pf(6). ypsum (1.60). 7S Hoffman. .. Indus Alcohol. Leather........ Leather (A).... Pipe & Fdry (2). S Pipe&Fy 1st 1.20 U S Realty & Imp(1) U S Rubber...... U S Rubber 1st pf. U S Smtg & Ref (1). U S Smtg&Ref pf 3% U S Steel Corpn (4). U S Steel pf (7) U S Tobacco (4.4 United Stores (A)... nited Stores pf (4) niv Leaf Tob (3).. x niv Leaf Tob pf(8) niv Pie 1st pf (8).. ad. iiv Pipe & Rad pf. Utah Copper (6) . Ut) P&L(A) et2.1 2613 42 2 16 7 1 108 308 3 108 60s 94 U s ok 5 & 1 2 6% 14 60 34 17 1% 109 T1% 26 51 . 571y 207 4019 T 1y 13% 7 22 £ 3 48 86 32 5y 10 178 219 2 24 4n 10% 1 8 167 108 4608 6 Vadasco Sales Corp. Vanadtum Corp. . Van Raalte. .. Van Raalte 15t pf... Va-Caro Chem. .. Va-Car Chem 6% pf. 5 Va-Caro Chem pt (7) 6 Va Elec&Pwr pf (6). 2008 Vulcan Detin (4).... 2908 Wabash RR..... 61 Wabash RR (A) 9 Waldorf Sys (1%). 12 Walworti Co Ward Baking ( Ward Raking of (7). Warn Bros Plcture Warner Bros pf 3.1 Warner Quinian 3 214 324 Tia 19 1% 97 97% 14% 105 T 20 50 12 Net. . High. Low. Close. Chge. gt +14 —48% =gl Bales— Add 00 ~—1931— Stock and High. Low. Dividend Rate. 46% 5 Warren Bros, 26 15 Warren Bros cv pf 3. 1108 1314 Warren Fd&Plpe(2). 2 1214 Wesson Oil&Sno(2). 83 44Y% Wesson O&Sno pf(4) 1 61 West PaTlec A (7).. 1108 61 West Pa El pf (8) 608 65 West PaElpf (7)... 3708 90 West Pa Pwr pf (6). 3708 100’5 West Pa Pwr pf (7). 100s 1413 Western Dairy (A).. 9 4 Western Dairy (B).. 22 5% Westerh Maryland.. 57 F3 Western Md 2d pf. 1 3% Western Pacific. 10 615 Western Pacific pf. 15 8314 Western Union (6).. 18 16 Westinghse A B(2) 13 3914 Westinghouse (2%) 75% Wsths 1st m3% 614 Weston Elec Instru.. 81 Westvaco Chlor (2) 12 Wheeling Steel...... 46 Wheeling Steel pf 3). 7% White Motors. . 22t White Rock (t4%).. 113 White Sewing Mach. 3 Wilcox Ofl & Gas 1% Willys-Overland. 14'; Wiliys-Overland pf s Wilson & Co. . 1% Wilson & Co (A) 15 Wilson & Co pf. 425 Woolworth (14.40).. 20 Worthington Pump. 7% Wright Aeronautical 50% Wrigley (Wm) (4).. 12Y% Yale & Towne (2) 3% Yellow Truck, 17% Yellow Truck & C pf. 14 Young Spr&Wire(2). 19 Ygstwn Sheet&Tube. 1 Zenith Radio..ees.s 7 Zonite Prod Corp (1) 19 16 1067 27 80% 30 15% % 29 78 5% 14 14 27 14% 21 1% ™% 50 | cash payments based on the latest quarterly or tions. xEx-dividend s 4% 1n stock. TPlus 9% b payable in stock. o Plus 2% in stoc] 3% in stock. Pl 3 this year—no stock. © Plus 2 % in stonk. 6% 18 1514 14% 47 75 75 80 9% 109% 161 4 ™% gy 3 T 834 18y 43% 84 8% 11% % 14 4% 25 14% 21 1% ™" v Net Close. Chue, -3 +T% -1% -2% +3 - T% ~4% +8 -1% -3 +4 -5 —2% +1% * % N -2 + % —1% +1 - 3% -2 -1 -1% 59% 89% 8 65 3% 834 88 51% 50 97 93 62 100 89Y% 93y 92 88 215 984 65 7 76 57 -2% -y + % Net, High. Low. Close. Chee. 71§ 9 18 16 15% +1% 45 78 5% 80 100% 109% 1614 4 + g 9y 4% 8% 86 19 47 8444 8% 1214 12 46 10% 27 25 3ty 2% 25 S 2% 19 54 25% % 59% 14 5% — 4% 26% —1% 14% — 14 21 -4 1% ™ — % gt —12% - -1% —17% i -1% - -4 + % +2 + % o +5 - -1 i, e - % +1% Dividend rates as given in the above table are the smnual gu] o o oetial préterrod sigd ectal Zn0” TequIar rate. :: Experienced Advertisers Prefer The Star D. + " > v C., OCIOBER 18, 1 931—PART SIX. |ADVANCES IN WHEAT PRICES CONTINUED Brisk Demand Sends Quotations to Highest Point in Several Weeks. BY JOHN P. BOUGHAN, Associated Press Market Editor. CHICAGO, October 17.—Wheat prices climbed today to the highest point reached in several weeks. Persistent buying that accompanied the gains was based chiefly on supply and demand factors, with special attention to reports suggesting a heavy decrease of domestic Winter wheat acreage for the 1932 crop. Big export business in North American wheat during the week, including 600, 000 bushels or more today, was also & decided stimulating factor. Wheat closed firm, 7zal% cents up, corn and oats both 1:a7y advanced, and provisions varying from 2 cents decline to an equal gain. WHEAT — December December July OATS December NAY. ... July_ RYE Decembe May Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md, October 17.—The egg market holds very firm under light receipts, especially of fresh-laid stock, which is scarce and wanted at a pre- mium in price, when buyers are satis- fled with this size and quality. West- ern refrigerator eggs supplying the bulk of the market being preferred to na- tive and nearby current receipts, which show evidence of having been held. Hennery whites of fresh-laid quality and weighing 55 pounds to the case are bringing top prices and showing an advance of 4 cents a dozen over last week and current receipts 2 cents a dozen. Small pullet eggs, however, show no change and are generally slow sale. Market closed today at 34 to 36 cents a dozen for hennery whites, 55 pounds up; 28 for candled firsts, and 26 for current receipts, but pullet eggs will not bring over 18 to 20, Poultry Prices. The live poultry market shows little change from last week, market con- tinuing generally easy under liberal re- ceipts, but mostly of small poor fowl. Only a fair demand prevails for Spring chickens and is centered on large, fat stock. Leghorns unless of good size and fat are hard to move, while all poor, thin chickens, as well as bare-backs, are hard to move at uncertain prices. Old hens, 4, pounds and over, are in fairly good demand at 24 cents a pound and 3!, to 4 pounders, 18 to 23, but Leg- horns will not bring over 15 and 16 and ers very slow sale at 12 to 14. Medium ing mostly 20 to 22 and Leghorns, 18 to 20, but the bare-backs and poor thins stags are hard to move out at 14 and 16. Ducks in moderate receipt but ample for the demand, which is lim- ited and centered on white varfeties, 4!, pounds and over at 15 to 20, with fowl in light receipt and market shows an advance at 50 to 55 each for birds weighing 2 pounds and over, but emaller stock not so desirable and slow sale at 25 to 40. Market for pigeons holding steady at 15 to 20 per pair for both young and old. White potatoes in liberal receipt from all sections and under a light demand the market is dull at 70 to 90 per 100 pounds, with mixed, as well as No. 2 stock not wanted at any price. Sweet potatoes and yams also in liberal re- ceipt and market generally easy at 1.00 to 1.35 per barrel, but ungraded stock will not bring over 75 to 90, with bushel hampers selling mostly 35 to 50. Other Vegetable Prices. The season for native and nearby vegetables drawing to a close and val- ues on practically all lines show an ad- vance at the following quotations: Stringless green beans, 1.00 to 1.50 bushel; beets, 1.50 to 2.50 hundred; Savoy ‘cabbage, 40 to 60 basket: car- rots, 2.50 to 3.50 hundred; lima bean 60 to 1.00 hamper: onions, 1.75 to 2.00 per 100 pounds: oyster plants, 5.00 to 7.00 hundred; peppers, 25 to 35 ham- per; pumpkins, 3.00 to 6.00 hundred; spinach, 20 to 60 bushel; tomatoes, 25 to 75 hamper and 40 to 60 bushel for canners’ stock. Live Stock Market. Due to the cattle show at the Union Stock Yards this week a better demand has prevailed for live cattle on the wharves and while market showed an improvement, prices generally show lit- tle change. This is due principally to the fact that most of the cattle con- sisted of common to ordinary stock, while demand generally is centered on first quality cattle. Quotations today at Light Street Wharf: Beef cattle, first uality, pound, 6 to 7; common to me- lum, 4 to 5: bulls, as to quality, 3 to 5; cows, choice to fancy, 4 to 5; com- mon to fair, 2 to 3; oxen, as to quality, 3 to 5: calves, veal, choice, 9 to 9! large, fat, 7 to 8; large, rough, 5 to 6; common, thin, 3 to sheep, 1 to 2; Spring lambs, choice,7; fair to good. 5 to 6; hogs. straight. 6: sows, 5. stags. l?ot;)"‘; live pigs, 12 to 14; shoats, 10 Grain Prices. Closing grain quotations: Wheat, No. 2, red Winter, garlicky, domestic, spot, 53%; October delivery, 53%; Novem- ber delivery, 54',: corn, No. 2, yellow, domestic, spot. 52a53; cob corn, 2.25a 2.50 per barrel: oats, No. 2 white, do- mestic spot, 32a33; No. 3 white do- mestic spot, 31a32; rye, nearby, 45a50. Business Notes NEW YORK, October 17.—The holi- day on Monday, combined with the cooler weather prevailing, gave men's wear stores in New York one of their most active periods in recent weeks, re- tail executives report. Suits and top- coats were in strong demand, and cool- weather furnishings, including glovi heavier-weight socks and underwear, started to move freely. Hats were also in greater demand. Following the active retall trade at the start of the week a liberal volume of recorders on novelty jewelry reached manufacturers in New York, trade circles report. The demand covered gold and silver finish jewelry and aluminum types. In one quarter the demand for plain gold-finish types was said to be particularly heavy, inasmuch as this finish harmonizes with the strong color trend toward black, brown and green. Retailers lhopg‘ln[ through the home- wares markets New York this week placed tentative orders for large quan- titles of merchandise to be shipped November 1, sales agents said. These orders, however, were not “firm,” but must awalt confirmation, buyers point out. As far as actual sales were con- cerned, the wholesale markets were less active this week than last. Primary market sales of white sheet- ings and sheets slackened during the week and the volume placed was only fair in comparison to some recent to- tals, selling agents reported. A few mills, however, are fairly well placed on 2dvance business, which will keep them running for some time to come. Interest in holiday goods has not yet devi very strongly and only a few > of m’.{mmlmed and :olnl::(‘!. been placed, agents all poor thin fowls as well as old roost- | to large mixed colored springers sell- | smaller neglected at 12 and 13. Guinea | SEAL, WEEKLY FINANCIAL HIGH LIGHTS By the Assoctated Press. Brokers’ loans... Federal Reserve ratio. Holdings, U. 8. securities. Gold reserve... Rediscounts ... Bank clearings . Electric output ( 3 ending October 3.. . (Fipal three ciphers omitted in Car loadings, week ending Oct. 3. Crude oil production (barrels).. Stock sales (N. Y. Stock Exchange) Bond sales (N. Y. Stock Exchange).. New financing . . Time money rate... Commercial paper This week. 178,782,000 215-3%% Last week., $1,001,000 67.1% $738,345 3,036,950 463.393 8,530,063 1,645,587 738,020 2,147,450 17,366,002 95,806,000 12,000,000 114-2% 2% Year ago. 42,752,000 80.9% $601,614 2,979,337 210,439 9,087,664 1,723,876 972,492 2,366,800 12,005,350 52,026,000 126,298,000 2% 2-37 2% 3% % $928,000 6187, $727.431 2,836,014 627,579 6,208,467 1,653,369 above.) 771,837 2,612,700 6,501,010 none. 2%-3% Business for the week ended Oc- tober 10, as measured by weekly statis- tics made available during last week to the Commerce Department, indicate that bank debits, outside New York City, increased for the second con- secutive week, reaching the largest total since July. The total for the week, 107.6 per cent, is still 10.6 per cent under the same week last year. ‘Through the survey of current busi- ness the department added the follow- ing comment on domestic business con- ditions: “Loans and discounts of Federal Re- serve member banks showed a slight de- ciine from the" previous period and were much lower than a year ago. Interest rates for call money remained the same as for the previous 20 weeks, the average for the week being con- siderably under that prevailing during the same week last year. Time money rates increased to the highest levei since the opening weeks of January, but were still under last year. “Average prices of representative stocks increased slightly after an almost continuous drop extending over a period of about seven weeks. The stock index of 93.4 for the week ended October 10, compared with 92.3 for the week previ- ous, and 178.2 for the same week last year. The average price of 40 leading bonds continued the decline which has been under way since the second week in July, reaching the lowest quotation BANK DEBITS SHOW INCREASE FOR WEEK ENDING OCTOBER 10 for the year. Business failures, as re- ported by R. G. Dun & Co., decreased in number from the week previous, but | were still 9.6 per cent over last year. “Wholesale prices, as indicated by the mposite index of 120 leading com- previous, or at the low point for the year. Prices of agricultural products increased slightly for the first time in | many weeks, but were still 36 per cent under the corresponding week last year. Prices of non-agricultural products de- clined from the week previous and were 13 per cent under last year. The price of cotton middling increased slightly from the preceding week, while the price | of electrolytic copper remained at the | same level as for the previous week. the week declined to the lowest level |of the year, and was 4.7 per cent under | 1ast_year. | _“For the week ended October 3 in- | creases occurred over the previous week |in bituminous coal production, receipts, cotton receipts, freight car loadings, hog receipts and steel ingot production, while declines were recorded |in electric’ current production, lumber production. petroleum production and wheat receipts. For the same period |the New York Times composite index of genegal business activity showed an | Increase of 0.7 point, while the Busi- ness Week composite index decreased 0.6 point.” Commodity Price Trends of Week BY H. N. McGILL, Editor McGill Commodity Service. AUBURNDALE, Mass, October 17 (#).—The favorable effect on commod- ity prices which resulted from the pro- posal of President Hoover to form a national credit corporation to relieve has been continued during this week. All Commodities. As measured by the McGill Com- modity Index. all commedities showed a fractional gain from last w level Out of 14 individual groups, 5 were up. 6 remained the same and 3 declined ‘The plan for forming a national credit corporation succeeded in creating bet- ter sentiment in regard to the banking situation. This has been reflected in a firmer tone in the commodity mar- kets this week. The uncertain condi- tions in connection with the trouble between China and Japan and the po- cal situation in England and Ger- many have had no unfavorable effect on prices. The marking up of the Federal Reserve rediscount rate 1o 3'z per cent has created interest, inas- much as usually in the depression stage of the business cycle money rates are at the low point. The question h: been raised as to whether or not this mark-up resulted from the outflow of gold to foreign countries and to hoard- ing. which has been estimated at over $1,000,000.000, there is no reason to ex- pect an increase in commodity prices on this account ‘These withdraw: do not represent business usage and consequently will have no effect on prices. Industrial. Industrial prices showed no change from the previous week. Paint ma- terials, fine and coarse textiles and vegetable oils were higher. Building materials, hides and leather and paper showed declines. Chemicals, _fuels non-ferrous metals and_ferron< motals remained the same. producers of commodities in depression levels such as we are now witnessing in contrast with prosperous times is illustrated by the fact that conferences are scheduled for this month of the important producing interests in coal, rubber and copper. Recent reports on supplies of both rubber and copper in- dicate that inventories are at tne higa- est point ever attained. Agricultural. Agricultural prices showed an up- turn this week for the first time since the last week in August. Wheat and cotton were particularly affected by the possibilities of & Chinese-Japanese war. Most important price changes in the McGilil weekly commodity price indices, 1926—100: ogt iz, 1930, 1 commodities e Industrial . 7 Veretable ofls. . POTATO MARKET. CHICAGO, October 17 () (U. S. Depariment of Agriculture) —Potatoes —Recelpts, 99 cars; on track, 240; total U. S. shipments. 922; market dull trading fair. Sacked, per hundre weight—Wisconsin, round| whites, 75a 85: Minnesota, North Dakota Cobblers, mostly 80a85; Red River Ohios, 85a9; ldaho Russets, No. 1, 1.25a1.55; com: mercials, 1.15. SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co.) Bid. Offer. Allis-Chalmers Co. 5s_1937. 1% American Chain Co. 63 1933::: 94 American Tel. & Tel_ 5158 1943 10514 Amer. Wat. Wks. & El. 53 1934 9611 Baltimore & Ohio 4'2s 1933, .. Beiding Hemingway Co. 65 1938 { Bethlenem Steel Corp. 55 193%. | Canadian Nor Rwy. s 1935 { Chi. Northwestern R. R. Chicago Rock Island Cleve, Lor, & Wheeling 58 Colorado & So. Rwy. 423 Commercial Crédit Co. 5735 1 Delaware & Hudson Co. b5 Denver & Rio Grande 4!s8 Gen. Mot. Accep. Corp. & General Petroleum Corp. 55 General Public Service §tas Grand Trunk of Canada 6s Texas 55 New York Cent. Nortnvesiern Telep. 4135 orthwestern Telep. 413 Pa. R R Co. 61581036.... ... | Portland General Elec. 35 13350 Republic Tron & Steel 55 1940 ¢ | Sinclair_ Crude Oil Co. 51us 1938 SouthernPacific s 1934 z ISt L IMS. Ry. R. & G. 431933 | Uniton Elec. Lt." & Pow. 55 1933 Union Oil Co. of Clif. 55 1935 Virginia Rwy. & Power 85 1034 Wabash Rwy. Co. 8s 1930...... TREASURY CERTIFICATES. (Reported by J. & W. Seligman & Co.) Maturity. Bid. Offe T Dee 15, oy 100 100 90 25-32 99 25-33 FOREIGN EXCHANGE. uotations furnished by W. B. Hibbs & Co.) e Nominal gold Sellirg checks value. today. | London, pound ;| | Paris, 1 Brussel: Berlin, Madrid, peseta Vienn: schilling Budap engo Dengo. Prague. crown_(n arsaw frozen credits in some of the banks signifies inflationary tendencies. As the | ‘The attitude of | IRAILROADS PROPOSE | INCREASE IN CHARGES | Special Dispatch to The Star. BALTIMORE, October 17.—Substitu- tion of a charge of $1 a ton for the present charge of 12 cents a ton on freight handled over their piers when the freight is moved by trucks has been proposed by the railroads enfer- ing Baltimore, namely, the Baltimore & Ohio, the Pennsylvania and the West- ern Maryland. Hearing on the proposed plan will be | conducted before the Trunk Line Asso- | ciation in New York next Wednesday. The hearing will be attended by Charles R. Seal. director of the trafic and transportation bureau of the Baltimore Association of Commerce. “At present,” said Mr. Seal, “the rail- roads make only a nominal charge of 12 cents a ton for freight which arrives in Baltimore in ships for transportation to other points than Baltimore, or for freight which is brought here for load- ing in ships. Of course, that charge is founded on the idea that the railroads will carry the freigrt in so far as it is moved beyond Baltimore. | “But it has developed that some of the freight is taken at the pier by | trucks, to be hauled to destination or is | brought from its originating point to | Baltimore by trucks. The railroad point of view is that the effect of this is to | make its wharfage facilities available | for the trucks. DOMESTIC BUSINESé OUTLOOK IMPROVES Special Dispatch to The Star. NEW YORK. October look for domestic business more encouraging. News reports show scattered improvement in retail trade and employment, says Neill Tyson, Inc. economists. An increase in fields of business activity was noted by the pres- ident’s Committee on Unemployment Reliel from a canvass of 41 localities Odd-lot brokerage business is aeain on the increase. denoting more public interest in common stocks than has been manifest in the last four months, one wire house alone doing in excess of 50,000 shares daily. A further exten- slon of this buying is expected when ':;;ed ni:‘\\' H((l)o;(‘:‘ }finn is in operation S activities beco videly i me more widely 7.—The out somewl CHICAGO LIVE STOCK MARKET CHICAGO, October 17 (#) (U. S. De- partment of Agriculture) —Cattle, 200 head; compared week ago, better-grade fed steers and yearlings, 25a50 higher: strictly good and choice long yearlings leading advance; lower grade, including grassers, steady to strong; general mar- ket advanced steadily after Monday prime 1,039-pound yearlings reaching 10.35, highest of season; weighty stee 10.50, largely steer run; bulk stric grain-fed offerings. 9.00 upward: bulk fat steers, 7.50a10.00; 1.446- locks up to 10.25: 1,696 to 1 averages, 7.50a8.5 grassers in run; best killers, 7.00; Western crop__stockers and bulked at 475a6.00; meaty closed fully 25 lower: stockers. st 25 lower: very dull trade on grassy heifers and half fat light yearlings, but finished light yearlings acutely scarce: other .she stock steady: bulls, 25a35 lower and vealers 1.00 higher. Sheep—12,000 head; for week ending Friday, 243 doubles from feeding sta- tions, 24.800 direct: market declined sharply at the close, finishing m 25a50 higher: feeders held at earlier advance: week's top-range lambs, 7.90: closing bulk good and choice native ewe and wether lambs, 6.25a7.00, few 7.25; rangers, 6.50a7.00; strictly choice Colo: rados, 7.25; native bucks, 5.25a6.00 throwouts, 4.50a5.00; choice fed year- lings, 5.75: fat ewes, 2.00a2.75, range feeding lambs, 550a5.65; best earlier |in_the week, 5.75. Hogs, 10,000 head. including 9.000 di |rect: ” quality plain, market siead packing sows occasionally 10a15 lower 200-250 pounds, 5.25a5.35: top, 5.40: 140-190 pounds, 4.90a5.25: pigs. 4.50a 5.00; packing sows, 4.50a5.00; compared week ago, heavies weak to 15 lower; pigs and light lights, 15a50 higher: packing sows steady: shippers took 1.500; estimated hold-overs, 2.000; light tghts, good and choice, 140-160 pounds, 4.9085.15; light weights, 160-200 pounds, 5.0085.30; medium weights, 200-250 pounds, - 5.15a5.40; heavy weights, 250- 350 pounds, 5.25a5.40: packing sows, medjum to good. 275-500 pounds, 4.50a 5.00; pigs, good and choice, 100-130 | pounds, 4.35a5.00. NEW YORK BANK STOCKS NEW YORK, Oclob;r717 (®).—Over- the-counter market. BANRS. America B A Chase 483, 503 Sommercal Nati 1807 158 a : First Notl N ¥ 2450 2550 TRUST COMPANIES, Bankers Brookly Chem Bk & Tr. Cont Bk & Tr. Corn Exch Empire .. & Guarant trving Manufactirers New York Bonds Called for Redemption. NEW YORK, October 1% (#)—The Detroit Edison Co. has called for re- demption on December 15 all 10-year 8 per cent convertible debenture bonds, series of 1"?. at 100% and interest. odities, was the same as for the week | The compesite iron and steel price for | cattle | I ELEVEN COUNTIES LEADING IN TRADE Report Shows They Control One-Half of Wholesale Business. Eleven counties control one-half of the wholesale busii.ess in the United States, the general total of which amounts to $69,490,771,331, according to a compilation made from the 1929 cen- sus of distribution, and made public yesterday by the Department of Cor: merce. Firms in New York State alon handled over a quarter of the total, the report revealed. The District of Columbia ranked thirty-fourth in the list compiled, with a total of $261,083044 in business han- dled during the year among 496 whole- sale business houses. New York County Leads. There are 169.757 establishments in the United States, but the geographical concentration was so great, it was pointed out, that $45,794.670,223, or 65 per cent of the volume, was conducted by establishments in cight States—New York, Illinois. Pennsylvania, California, Missouri, Ohio, Massachuseits and Texas. New York Countv, with a total of $15,598,220,186, was the most important county in the wholesale field, while total sales of wholesale establishments in te amounted to $17,064, 41 per cent of the total. le shows the amount lly in the eight . Per 1t 3381561 643 31094443580 3043 684.503 2804500118 summary of wholssale trade as compiled by the Census Bureau revealed the following #<ditional informatio; More than 75 per cent of the Nation's wholesale business is tra counties, of which 11 had sales In ex- cess of $1,000000.000 annuall; ness enjoyed by these countie to a considerable extent on sales con. summated in other parts of the county but these central markets are, howaver, the important markets for those selling esalers and this d concentration is of the cance to them. ploves of the nearly 170.000 whole- sale houses number 1,607 all but 294,770 were men, and reczive annuall and ralaries totaling over $3.0 . Supplem the $69.000.000.000 worth of business handled by wholesale firms, considerable additional sales at wholesale are made by both retai and manufacturers which would b the total wholesale business up to ov $90.000,000.600 a year. Direct sales from manufacturers to customers amount to more than $16.009.000.000 and transa: be ers and retailers comp: 000,020,000 worth of Werkers Concentrated. Included in the 11 ties which re. ported more than hali 1 business total were two co: of three States, Francisco in C 0 B son and St. Louis in Missouri, and Allegheny and Philadelphia in Pennsylvania. Although onc-quarter of olesale business was di cstab- hments located in New Yo State, es in 33 States are listed in the group of 57 counties whi i than 75 per cent of the ness in 1929, The concentra also leads to similar fas: g more contains over 29 total of 1.607. on: the total of establishmy of worker: ar bu 5 s out of & 000 empl 4 and had o York. Lusiness Cook. 111.; Mass.; Philadelphia. Pa.; San Francisco, Calif.: Wayne. Mich.; Allegheny, Pa.; Los Angeles, Calif: St. Louis, Mo.; Jack- son, Mo.. and Cuvahoga, Ohio. “The 1€ States doing most business are New York. Illinois, Pennsylvania, Cali- fornia, Missouri, Ohio. Massachusetts, Texas, Michigan and Minnesota, LIVE STOCK MARKETING ASSOCIATION FORMED clal Dispatch to The BALTIMORE, Oc 1 Live Stock Co iation, Inc.. Baltimore Stock Yards, pas been incorporated under the State aws of Maryland to generally promote a medium for unity of effort by pro- cers in handling and marketing of live stock and other agricultural prod- ucts. The capital stock consists of 26,000 shares, of which 25000 shares, par value $1 each, are common stock and 1,000 shares, par value $25 each, are preferred stock. Joseph W. Jones of Olney, Md.; Robert W. Farmer of Derwood. Md.; Thomas B. Glascock of Upperville, Md.. and Ross H. Tuckurller and F. F. Wi of Lewisburg, W. Va., are the incorporator $1,000,000 Expansion Plan. ASHEVILLE. N. C., October 17 (#).— Reuben A. Robertson, president of the Champion Fiber Co. has announced ns for a $1.000.000 expansion pro- ram for the company's paper plant.at Caaton. N. C.. near here. He said the addition would include construction of three large buildings and installation of $500,000 worth of new machinery. New CHICAGO STOCK MARKET By the Associated Press. CHICAGO, October 17 (#) —Follow= i is the complete official list of trans- actions in stocks on the Chicago Stock Exchange today: 350 Aliled Prod 20 Am_Pub Se 10 A T 250 Cent Pub_Serv 300 Cent & 50 C¢ v 10 Cherry Burrell 800 Cities Sery 75 Comuwlth 1100 Cont. € e iCorp: 1. 00000 nhat Dearborn ... Merch & M) 530 Mid. Wi 50 Mid W 300 Midland U 10 Mid Ut ol;..2 750 Nat Elec Pow Al 00 Nat Secur Inv.... 50 Nat Secur Inv pf. 200 Nor Am & L Por 50 Norwest Bancorp 100 No West Ut 7% Di. 600 QRS De Vry 100 Seaboard Uil 200 S0_Unio: 50 Super-Maid 450 Swift & Co 130 Swift Intl 100 Un_Am Util A 130U S SRS 100 ULl & S 50 Util & Ind pf. 50 Viking Pump p! 30 Vortex Cup 100 West 51, & Tel A 100 Yates Mach 2 Btock sales today. 33. shares. 10000 Tnsull U1 GaO1640.. 5% 8 80 ‘Bond sales today, 318,000,