Evening Star Newspaper, November 6, 1931, Page 15

FIN ALURB ISSUES RALLY * AFTER EARLY L0SS} Prices Climb on Increased Volume - of Trading. Leaders Active. BY JOHN A. CRONE. 5 @pecial Dispatch to The Star. NEW YORK, November 6.—After .men\nx lower, the Curb Exchange mt:ed r‘: rally “;r'ound mgfln-y ‘MH“ # es Mo uj on an in- .-GMIB‘; volume of lrfl:‘“ +- Electric Bond & Share was firm, i ‘While Cities Service was a trifle lJower. ~.American Gas & E'ectric was up a point and for a time Middle West Utilities ~Was a trifle higher. United Light & Power A was active and steady despite its earni; mt for ~the 12 months ended Sep ich showed a net profit of $8,304, 'l&'l inst $11,225,671 in the same period 1930. Bohack common sold off about 3 points as a result of its small gain n - October sales. American Capital A was a feature of the investment trusts during early deal- ings, as it declined more than 8 points Ludwig Bauman preferred was the best “performer in the furniture shares, rising 4 points. General Gas & Electric B E:{!erred and New England Power pre- “ferred made the best shol‘ln( in the "public utility preferred Ii Curb Exchange stocks Ware fraction- ally lower at the opening. Electric Bond & Share was off 1 at, 201, and other uilities were somewhat »below their pr2vious clesing prices. “7Among them American Gas & | Electric, CenLll States Electric, East- ern States P6wer B, Middle West Utili- ties and Utilities Power & Light. Cities Service opened off a shade at 77 Standard Oil of Indiana at 227 was slightly lower. Standard Oil of Ken- tucky was unchanged at 16's Cord Motor was fairly nctl\e and, after opening lower, showed a’firmer =tendency at 8!,. Ford Motor of Canada - also was firmer after a dip at the start. Deere & Co. was fractionally higher, but other industrials were heavy. Trad- ..ing Corporation issues were somewhat lflwen United Founders at 3 was off & RIGHTS TO PURCHASE SEATS ARE EXTENDED' By the Associated Press. | NEW YORK, November 6.—Extension | inge yesterday by the exchange. °_ The expiration date originally had “been set for February 7, 1932, three AYears after the membership of the ex- cfuue was increased by 275 seats, each the 1,100 members receiving the right ..t0 one-fourth of a new seat, which he « Recently a petition was presented to B xchange asking extension of the many of the rights had not been dis- vms of and the decline in the value decline in the value of the its, when first available, li 510.‘250 i S esent time, have sold as * h ,000 each and as low as converted into 255 memberships, leaving s bfllnu of 80 rights to be converted rights, th Go ttee of e-Gaver: e 0 fi‘ hange ' stbmi for the mem- ite disposal of the rights and ca: gflmpletwn the exchange's phnn;yl » 1,375. The plan provides for the ‘gohmmnl of a special committee, and change will prescribe the raethod of its Mul’! f d!!pcslflon of the :llh" <'eould dispose of by sale or transfer. e: expiration date to February 8, 1933, as .of memberships had resulted in a pro- m and $110,000 and since then, 000 To date, 1,020 rights have been ln 0 me: tion date for bers’ Ippml] a plan designed to the number of memberships Governing Committee of the ex- T next February. BONDS ON THE CURB F Fsiieacs 1] oSS B! 111 Sg v8 z =98, e - >§>>>> § el 28 5 - 0! H i 5% £ S ; o Georela Power s 61 Grand Trunk 6% ‘38 § uif Oil Pa ss 47 ow & 1000 RS e A RS RS OIS S 114 IR RS S A 690910 A s AN e e 0 s 9o Soisaensaaey e Qhlo Rdimop, 10 W, Ohio Pow 4%s D Qhio b ‘ser é:‘ Sggdd gEes: 1 lml. \nfm PINTITIITIII00 i 5, g | no_indication ot | pean government. {good as they ever were w. NCIAL G STAR, WASHINGTO! NEW YORK CURB EXCHANGE Received by Private Wire Direct to The Star Office. Allegheny Gas Corp. Alljed Mills Inc..... Aluminum Co of Am 1675- 81 Alum Ltd C wa Am Austin Car. Am Beverage Am Capital A... Am Capital B. Am Cit P‘l- Bb10%. Am Com P A (l 0%) Am Corpn (f30e). Am Cyanamid 14 9 $2e ?:1;:" Am Gas & Elec (11). 24 Am Invest Inc (B). Am Lt & Trac '2%). Am Maracaibo. Am Natural Ga Am Superpwr (p40c) Am Buperp 1st (6).. % Am Util & Gn B vte. Am Yvette (25¢). .. o 1 S Arkans Nat Oll A Ark P& Lt (1) Art Metal Wks(b8% ) U A880 G&EI A (b2-25) Ao GEE all ct 1.60. A#80G & E purrts Atlas Utl] Corp. Atlas Utilities war Auto VM cv pr pt(2). Baumann (L)pf(7).. Bell Tel of Can (8) Bickford's (1. zu) Blue Ridge Cor Blue Ridge v pt(as) 1 Blumenthal (S)..... 1 Bohack (HC) (4). 1 Bohack (HC)1st pt 7 Brazil Trac Lt&P(1) 4 Bridgept Mch (26c). % Brit Celanese rets. Bunker Hill & 8ull. . Bureo Ine Burma rets +27 3-5c. Cable Radio T vte. Cable & Wire B rct. Canadian Marconi. Carnegie Metal Cent Pub Sv Del. Cent Pub Sve A b5%. Cent Stat El (b10%) Chain Store Devel. .. Chain Stores Stock. . Cities Service (g30¢) 115 Cities Serv pf (6)... 2!\ ¥ 508 268 258 14 2 2 '3008 5 6! Claude Neon Lts Inc. Clev EJ Illum (1.60 Colombia Syndicats ColonOil..\o.uenen Col Of1& Gas vte. ... Colum Pie v.t.c. {75¢. Cmwith Edison (8).. 1008 Cmwith & Sou war. . Com Wat Ser x12%c Consol Copper., Con Gas Balto ( Sm (uu) s 52l k) 3% 'I‘A 266“ 12’% 3% 101 144 3 9 51 Ba% 23% 15 3% 14% [ ‘Duke Pow (5). Dubilier Cond wat Bleo Pow Asso A (1) Elec P & Lt op war. Bmpire Pub Sve (A Burop Elec deb rts Fajardo Sugar. Fansieel Produci Federated Cap cu pf. Ford M Can A (1.20). Ford Mot Frn 37% Ford Mot Ltd 36 3- Fox Theater (A) Franklin M{g....... Garlock Pkg (1.20). . GenE Ltd rcs 36 3-bc Gen Empire (1) Gen G&E cv pf B(8) 2508 Globe Underwr (15¢) 3 Goldman Sachs. 23 Gorham Inc pf...... 1 Groe Strs Prod vtc Gulf Ofl of Pa (1%). 4 Hamilton Gas v.tec... Hecla Mining (40¢). Hudson Bay M& 8. Humble Oil (+23).. Hverade Food Prod Hygrade Sylvania(2) Imp Otl of Can (50¢c) lnd Ter 11lu Oil B. 11 Inv (b6% ). rance Security. . 2 cam meReNean onbe e Iron Cap Copper. . .. Kolster-Br (Am Sh). Kress SH sp pf 60c. . Lake Shore M (12.80) Land Co of Florida. . Lefcourt Real pf (3) Len Coal & Nav 1.20. 2 16% 28% S 25% 27% 1% 16% 12% Stock and Sales— Dividend Rate. Maoo Open. High. Low. Close. % % ~Prev. 1031~ & Leonard 5 & 1y R1% Stock and Sales— Dividen” Rate. Add 00. wv:. High. Low. el ofl .. Libby McNell & L. Long Is cu pf B().. Louisiana Lan & Ex. Magdalena Synd. ... Mangel Stores pf.... Mavis Bottling (A).. Mead Johnson (15). . Mid'ld Steel Prod(3). Mid Sta Pet vte Mid Wst Sts U(b8%) Mid West Ut (b8%). Mining Corp of Can. Mo-Kan Mo-Kan Pipe Line... Pipe L (B).~.1 Mohawk Hud 1st(7). 508 Mos= Gold Mines. ... Mountain Prod (1).. Nat Aviation...... \n El Pow A (180). t Family Stores. hlt Fuel Gas (1).... Nat Investors....... Nat Pow & Lt pf (§).150; 6 1 1 1 ) 6 s Nat Service Co...... Nat Sh T Sec A 360c. Nebel (Oscar) s 1 New Eng Pow pf (6) New Jers Zinc (13).. 'w Mex & Ar Land. Niag Sh Nipisst; Ohio OI1 Newmont Mining. .. N Y Hamburg (234) . N'Y & Hond Ros (1), N Y Steam Cp (2.60). N Y Tel pf (83). . N Y Transit (t80¢).. -Hud Pow (40c) -Hud Pow A w.. -Hud Pow Bw.. M4 (40¢)... Nitrate Corp Chile Nor Am Aviat A war Nor Ind Pub S pf (6) Nor Pipe Line (14).. Nor St Pow A (8). 4 Ohio Copper. . cupf (6)... PacG&E1stpf 1%, PacG & Epr1.37%.. Pandem Ol. . Pantepec Oil Parker Rust Pr (3)..100s Pender DGr A (3%) 508 Pennroad Corp (40¢) 13 Penn Pw & Lt pf (1) 508 erryman Electrie. . hila Co new(11.40). Philip Morris Inc. Pilot Rad Tube A.... Pitney Bowes (b4 %) Premier Rock Lt Starrett 8tand Silver & Lead. Stein Cosmetics Stutz Motor Car. Sunray Oil. . Swift & Co (2) Swift Internat’l (f4) Swiss-Am E1pt (8).. Pittsbgh Plate G (2) Plymouth Ofl (25¢).. Gold (12¢).. Prudential Invest. .. Pub Util Hold xw. Quaker Oats pf (6 Rwy & Lt Secur (13) Relter-Foster Rellance Ma Reybarn Co. RhodeIs P 8 & P (90¢) Roosevelt Field Inc. Rossia Intl (10c).... Rubberoid (4)...... St Regis Paper (60c) Salt Creek Consol. Salt Creek Prod (1 Seaboard Util (28¢ Sec Allied Corp (1 Sexal L & H (aboc. Selected Industries Sentry Safety Cont. Shattuck Den Min.,. Shenandoah Corp... Shenandoah Corp pf. Silica Gel ctfs...... Singer Mfg Co (116). Smith (A O) (2).... SoCalEdpf B (1%). Southern Nat Gas. .. Sou Pipe Line (2)... Spanish & Gen rets. . Stand Ofl of Ind( 1).. Stand Oil of Ky 1.6 Stand Pwr& Lt (3).. 1 Stand P & L pf (7). 2508 Corp pf (3). 508 Taggart Corp. .. Teck HughesGM 165¢ ‘Technicolor Ine, Trans Air Trans. Tri-Utllities. . Tubize Chatel. B 4 Union Oi1 Assoe (2). . { Pl Plus o Plus divi stock stock. Unit Gas Corp war.. Unit Gas pt (7). Unit Lt& PwA (1).. U S Elec Pow ww... U 8 Inter Sec 1st pf. U S Playing Card 2% Unit Verde Exten (1) Utan P & Lt pf (7)., XOOI 4 Utica G & E1 pf(7. Uil P&LUa11.023). Ut P&L B(at1.02%). Utllity Equities. Util & Ind pf (l‘h).‘ Venesuela Petroim,. 10: Vick Finanetal (30¢) Walgreen Co. .. Walker (H) (50c; Walker Mining. Western Air Ex Western T & S Wilson Jone: Woolworth (. “Y" Oll & G rates in doliare “Ex dividend Un Gas of Canada(1) 1 3 6 3 6 L] 2 1 1 8 5 bases 1P % in stock. % in si0ck. Buying a Bond BY GEORGE T. HUGHES. 1t is worth whiic at this point to in- terrupt the orderly presentation in this | series of the principles of bond invest- | ment to say a few words about the| status of foreign dollar bonds, obliga- tions of governmentS which have tem- porarily suspended gold payments. The first market react to the news was sweeping declines in the price of practically all Lsted issues coming under this head. Guch selling was and will be, if it c-ntinues, ill-advised. Of course, if these jovernments are to be- come hopelessly 1volved or if they are | to be so embariassed financially as to be unable to cbtain the dollar exchange | to meet interest and g fund charges on cheir external obligations the bonds will '¢se value, but there is| g of the kind | happening with any important Euro- Bonds payable ‘n dollars are just as| far as the| monetary unit s concer! they depreciate thecir domestic currency is of no importance as far as payments to American heiders of external issues are at stake. Perhaps the semi-panicky selling is understandable in view of the present temper of the security-holding public, but it i essential that the in- vestor before .e ncrl.flou his bond -hould celarly urcerstand the situation. It is impossible for even the best in- formed not :2 be juenced - more or Leus;x:z the ;p'-*tlclc of & m-fll{“d; market, bui again it ougl hasized that market and empl muo are two culirely different mat- |50 ters. Market price is the eurrent’ esti- mate ol‘ value. Sometimes that esti- mate is too high, as it wulnv,he 1929 stock market boom. Sometimes it lltoo low, as it has been :lxmyen with bonds an In the long tends s P T a - Tiods ‘of "market. exchomint there” often no reasonable relation between | Ra wbflher the h the two, and that applies market is at » -LIIF!B‘ or whethunhltlnnflro(denlflm | It the gains that have been made in ed. Whether | B hlehg Rise in Commodities. NEW YORK, November 6 (Special). —There is more indication today of & | permanent advance in commodities | than at any time in the past two years. grain, silver and in some cf the base metals hold, there will pe & contribu- tion toward business recovery of sub- stantial character. The decline in com- modities has been the fundamental factor in the industrial depression, and, as a sequel, in the depreciation of securities. Not only is the effect of im- provement being witnessed here but to- day cables from the Argentine were most optimistic, as higher prices for gnm on the eve of the Anxenune rvest will help to correct some of the monetary conditions in the republic. N SHORT-TERM SECURITIES. (Reported by J. & W. Sellgman & CO) [ :m:,chlhz;u Co. 5s fean Cha American Tel. ":kco o 101! Tel, 1 Amer. Wat. Wks. & EI. 5 Beilimore & Ohio i 19’::"“ ‘mingway Co. 6s 1 ""Btee], Gora.” b Canadian_No; Chi. Northwestern K. hicaro Rock Lsland Pty Cleve & Wheeling 55 193 1 er. 106%% Accep. Corp. neral Petroleum Corp. 5s General Public Servie 51zs 1 Grand Trunk of Canada 6 Co. 93 Portl d gf,:‘c‘{;?'c cgeul:‘enl Ele HY """“ rufllnofl Co nl:n O l i) OO a( g‘lll( .a in 18 witdl R &ra =Tk TREASURY CERTIFICATES. 'R_e‘-.ma: by J. & W. Seligman & CO.) i lv,. 1038 Locally mm shoes arg selling in Shanghai, Chins, at $12 & pair and up. | 99 8-32 Australia’s film censorship is being attackeds Business Notes By the Associated Press. NEW YORK, November 6.—Contin- ued gains in retail trade, particularly apparel, are reported by retail execu- | tives In New York. The week so far is proving one of the best periods since the start of the Fall season and weather permitting, & notably active week end is anticipated. In some quarters also some early “nibbling” of consumers at holiday lines is reported by stores | which in a limited way already hlve showing such merchandise. Fill-in orders by dry goods jobbers for merchandise for immediate delivery were slightly heavier this week, as cold | weather developed in several sections of the country, reports in New York whole- sale circles indicate. The purchasers, however, were mostly for small quan- titles of goods. A better sentiment in the sections where commodity prices have been Increasing was reported by Jobbers. The wholesale kitchenware market | took on a more active tone this week as buyers placed rush orders on goods wanted for Thanksgiving omotions. ‘The_merchandise Durnhl!ed’;u all in the " popular price class, goods above $1 neglected. Call for kitchen | crockery has improved since the close of last month, with domestic houses busy on orders for_immediate delivery lnd importers on spflnx requirements. lle' resort lines of ready-to-wear are nearing completion and are ex- pected to exert a strong influence on styles for late kar and early Spring chand] Spectator sports ty the fore, while in B: featured there is a trend toward shades which are about equally mmhh for town as well as Film Contrnt Signed. NEW YORK, November 6 (#).— Warner Bros. and Columbia Pictures have closed a contract for Warner Bros, to take the entire 1931-32 Columbia product of 26 features and 16 cutdoor dramas to be exhibited in all theaters of the Warner chain/ The contract involves more than $2,000,000, ‘x ume of annual replacements b & | financing, a 4 | The strong v-:e'fcwmm: for grain D. C, FRIDAY AUTOMOBILE TRADE ON BETTER BASIS Manufacturers See Good Prospect Through Introduc- tion of New Models. BY DAVID J. WILKIE. ‘Written for the Associated Press. DETROIT, November 6.—Approach- ing & new trade season, motor car man- utacturers generally believe they have more reason for optimistic hopes than have appeared at any time during the last two years. It is just about two years ago that the automobile industry realized it had made more automobiles in 10 months than it ex) to pro- duce in the whole year of 1929. It dis- covered simultaneously that it had man- ufactured more cars than it could hope to sell within the season for which they ‘were produced. After two years of industrial decline, however, automobile makers believe that in the new mu now coming out or in process of assembly they have de< veloped a product that represents the best effort they eould &xt forth to u-u:- i corporated repre- sent the fruit of work in the research laboratories which motor car executives have not permitted the industrial de- cline td interrupt. - Improvements Numerous. Improvements in in trans- missions, gear shifts, in chassis con- struction and body design hln come from the englncergu tories each % | year, but, automotive en(lmen y, the advances to be lhown in the lmpendhu new types are nL 1i6t1e short of surtllnm While the engineer- | oo, ing department of the industry has de- | voted much of its effort toward further ease in driving, the tendency toward silence of operation and riding comfort has not been overlooked. the fuf dustry depends largely upon th- -hlmy of the engineering department to pro- duce elch year - better vehicle. The average life of an average car has been placed by the industry’s stat- isticlans at seven years. The industry, however, cannot wait seven years or be satisfied each year with the replace- | Hon ment of only the cars that are 7 years old. Tt is striving to increase the m- 80 im- proving each ynr'. new models that many vehicles will be surrendered to the dealer in used cars lon‘ berm they need to be scl ity. Regardless of what e a1 approaching season may develop for the motor car industry, it rpun certain that the keenest sort of competition will occuj % | the merchandising_organizations. potentialities of this competition lu causing mnnufmuflnz executlvu con- tinued concern. It unrestrained competition that mma the industry on its production expansion in 1929, The production expansion in turn ran the merchandising division off its feet. Controlled Production. ‘With controlled production tpp-renny a permanent policy with the motor car irdustry, the thing the manufacturing heads would like to see is a hulfixy competition, without exaggerated trade- in allowances on used cars and safe stimulation of new« car buying and a definite and perma- nent solution of the used-car problem. rospect for at least a partial ma- terialization of this seemingly is | brighter as the new season approaches than it has been for some time past. ‘There appears to be general agree- ment in automotive circles that the motor car industry never again will utilize its full production capacity. Just what the capacity of the industry’s fa- cilities amounts to at present is some- what conjectural, but it has been said that in 1929, when more than 5,600,000 | units wer€ turned out, it had itself to make nearly twice that num- ber. The fear of competitors’ plans in the boom year led manufacturers to z 4 | expand production facilities to the point where they all but engulfed the indi- vidual maker. Two years of amy paring do'n of plant inventory, abso: of over- production and 'the reduction of deal- ers’ stocks has brought the industry te the point where its executives profess to believe they approach the new sea- son with brighter prcspects than at any time since the collapse of 1929, While many of the old established companies are bringing their new mod- els off the assembly lines, a new pro- ducer is entering the fleid in Ge-rge M. Graham of Detroit. Graham, who is not related to the Graham brothers and has no connection with the Gra- ham-Paige Motors Corporation, is plan- ning to bring out a six-cylinder car Whish e will name the “Fockne six.” New York Cotton Speciul Dispatch to The Star. NEW YORK, November 6.—Cotton prices were unchanged to 2 points m er at the opening of the market Profit taking and hedging operat(om served to offset new long commitments and trade buying. After the initial firmness prices lost slightly. Opening prlcex were Docember ou up 1; January, 6.62, unchanged; 6.78, unchanged; Mny. 6.96, unchmged | July, 7.14, up 1, 'and October, 7.38, up 2. Grain Market | BY the Associated Press. CHICAGO, November 6.—Sharp gen- eral breaks of Chicago grain prices early today followed a severe setback in wheat quotations at Liverpool. The fall of the Liverpool market was 'ucribed to sudden heavy selling of Australian wheat and to instability of British exchange rates. Opening 1%a2'4 cents lower, Chicago when future delivery contracts qulckly declined xun.h Corn started 12a% off and then tecovered somewhat. Lightning-like rallies in wheat values took place after tumbles at the outset had carried the market to 4 cents below | yesterday’s top, the biggest drop since recent advances began. One vertical jump of more than a cent a bushel from the early bottom level was witnessed, a result of big purchases on standing or- ders to buy on price breaks. Rapid fluctuations ensued, and bullish traders | were _als| to take more notice of warlike develcpnem.s between Japan and Ch!n‘ z railroad line in which Russia part ownership, Bears, x:owever. put ltrm on Liverpool reports of enlarged offerings from the Southern Hemisphere, with wheat 'vesting wmmence:l. u1n Australia and yields above npac ons. r‘uunl Russia had renewed Aot saliing Thers. " Ta- also to stimula g here. - :dofln-uw at hand said the fresh char- ters were for December xhtpma:ct.s °h'um ussia. was taken, n P that only once in 43 years had the season’s high-price record for wheat been reached in November, but the low record had come in Noven. ber three different times, the stance of November maximum being this season. Corn and oats swayed with heat. wPl‘O\LflGnl averaged lower. responsive to downturns on cer Production _executives frankly admit | P'r¢ - | textile im) OVEMBER. 6, 1031 FINANCIAL PARLEY ON RAILROAD WAGES IS EXPECTED NEXT THURSDAY Way May Be Paved for Undcfltandmg, As Amicable Conference Is Indicated. Employment to Be Discussed BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK, November 6.—It is un- derstood that a conference will be held in New York next Thursday between the executives of the four major East- ern trunk line systems and the head$ of the raflroad brotherhoods to discuss the questior -.{ a voluntary reduction in This supplements a similar held some weeks ago at which wthefl discussion of this subject between the men who operate the rlllmds and those who have under their direction the welfare of organized railroad labor. Owing to a somewhat hasty reply to the invitation of.the labor leaders to Eastern railroad executives for a con= ference to discuss the labor question, there was a threat of a break which might have seriously affected p: for further amicable meetings. It i8 understood that this crisis, which was due to a technical treatment of the re= quest, has been averted and that next | Thursday’s meeting will be held in an atmosphere that should bring about the beginning of an understanding. Employment Question, Associated with the matter of wage reductions is the problem of increasing ent not only among ranks | of Taiiroad workers, but in other indus= tries. In other words, the brotherhood chiefs feel that if there is to be a vol- untary cut in rail wages there should be me q\lldro quo” in the way of 1d of employment by putun‘ back more men at work in maintenance jobs and in shops as well in in those industries from which the e?lr;len purchase the bulk of their sup- H I'llfollr to l-ll-l thw ‘wage cut of upon, out of whlcrft'm carriers would save ap- pronmntly momom & year, this , plus the ant increase in from the In- on's pooling plan would materially advance the crodlt n( the railroads and place them ition to buy rails and equipment ln make improvements that have been s for the greater part of a year. The process of putting a voluntary cut in wages into effect, while not so Iaborious or so long drawn out as where & cut is enforced and has to go through m.ny % ases of mediation and arbitra+ fle facing the threat of a strike, itself involved and could not be ccmpm.ed for a number of months. ‘There is reason to believe that the brotherhoods appreciate the seriousness of the railroad credit situation and are today in a more sympathetic mood to- t then was played last The matter is now at the critical point where statesman- shlp is nemn'y !n order to bring about satisfactory ~ompromise. Evidence tl’lb leadership ol thz right sort on Horis and hat js hax already’ corrected | 0 urs ane as already cOITe cheate aituation today to many men prominent in the railroad world. vice, which' includes engineers, firemen, conductors and brakemen, whose are now under ion, am( d to $2,411 per man. Those of 349,000 maintenance - of - way employes was $1,128 per man per year, and of 406,000 maintenance of equipment workers n was $1,502 a year. In the lrmxg‘ 181,000 station agents, telegraphers S0 i v ‘i‘f‘%‘e‘a‘ per year Tor al was r_year for the clerical staffs pe Cuts Ahfly Ofllned. On many roads cuts of 10 per cent|g have already been imposed on mu last group, while reductions 10 to 30 per cent have gone into cflecl coverinb_executives, whose average an- nual salaries nnwunt:clln last. year to of days of work per month .for which compensation is allowed. (Copyright, 1931.) PRICES FOR TURKEY DEPEND ON WEATHER New York Reports Show Adequate Supply of Birds Ready for Market. By the Associated Press. NEW YORK, November 6.—The price of your Thanksgiving dinner—turkey and trimmings—depends largely now on the weather man. There are plenty of turkeys xobblln(! thz(r last gobbles out in the Dakotas, down in Texas, in Maryland and New khnccordlu to reports obtained ew York State Department of A‘rlculture and Markets, If the weather is warm when they arrive in the city they will have to b. sold as quickly as possible at any price that can be obtained. If the weather is cool they will keep longer, the turkey appetite will be up, and the price will climb a bit higher. It is expected that a 10-pound turkey will cost somewhere around $3 under ordi- nary conditions. Offering prices to dealers in Texas are from 10 to 12 cents a pound whole- sale. ent wholesale prices on "tr!mmm " are as follows: Two flnum for three bushels of potatoes, cranberries 4 cents a pound, turnips 1 cent a pound, squash 1 cent a pound. Pumpkins are reasonable. Celery is reasonable. Other vegetables for salad, nuts and fruits are also fair in price. Substitutes for turkey in families where that fowl is not popular, are whole fresh hams or suckling pigs roasted whole. Chickens are selling around 20 to.28 cents a pound whole~ sale. Long Island ducks are around 16 to 18 cents a pound wholesale. EXPANSION IN JAPAN’S TEXTILE TRADE NOTED European firms in Java, Netherland East Indies, are l‘epomd to be ordering Japanese of American and lu ean lmea o! textiles as for- metly, all ough ¢ the volume 0f business actually booked is said to be small, Trade Commissioner Richard P. Hendren, Ba- ment’ of Commecce by radio. ‘This actioh on the part of European porters was said to have been induced by prize reductions on Japa- nese textiles, ariounting in some cases to 20 to 30 ger cent, as a result of the unofficial Chinnrse boycott of Japanese products. China has always been one 0! the leading export outlets for Japa- nese plece goods and “the decline in sales to that market prohably has foreed the manufacturers to dispose stocks originally intended for China in other nearby Far Eastern markets, trade observers believe. T. S. TREASURY BALANCE. ‘The United shtu ‘Treasury m-nce. announced f close of business November 4, was tz'la 636,303.35. Cus- toms receipts for the month to date were $2583718.32. Total ordinary ex- penditures were $6,361,152.69. STOCK Low, 1931.... 19 Hig] Low, l”" PRODUCTION GAINS AS STERLING DROPS Reduction in Gold Prices of Ex-|food ports Has Spurred British Plant Activity. By the Associated Press. Depreciation of Mllnl with the cmcomlhh:: reculiuon cable from 2% ‘The view is rather widely- held in British t!ldl circles, it sald, that this crease in activity be sustained Potndisgin rials. vances as & result Chm circles th inion that e express the opi the overwhelm! victory of the na- tional government at the general elec- tion offers a strong stimulus to busi- ness confidence. Immediate favorable reaction is reported in many lines of ISOUTHWEST WHEAT PROFT $105,000,00 Farmers Benefit by Rapid Advance in Grain on Chi- cago Exchange. By the Assoctated Press. ¢ Pk vt o T e of wheal ices Southwest a gain in value of $5,000,000 on its total 1031 harvest and 830,000,000 on, the"esuimated porton sill held 4n ST e 0% 041000 mahels grown tf season in Missour!, Kansas, region, and stored in anticipatio price levels: & -h-;-:e Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., White potatoes, 100 sweet potal stock. 3 eL 50-1.50 can pu. mu Dllrym-& 7 cases; urr*t 22830 hennery whites, 38a firsts, 32; Western firsts, 32. Bll and fancy creams 28a32; lldlu 20‘22. process, 24a: store packed, % un suek Market. = Cattle — Receipts, 2,500 head; -uw market stronger on chnmm Steers — Choice to prime, 8.00a8.50; to ot nholee J258180; medium £33 rdee industrial activity. Early extension of | D import tariffs as one result of the elec- tion is considered pmb-blz by business opinion, the cable advised. The increased activity of exponlng trades which followed the suspension of the gold standard was well main- tained in some lines throughout the month, while there was reaction to- ward quieter conditions in others as the general _elect date was ap- proached. Buyers and sellers have been ca** over future commitments because uf foreign ex differences. Domestic business for the most part has though quiet. Raflway provemen u“f:‘" engineering business is INVENTORIES ARE LOW IN VARIOUS INDUSTRIES Special Dispatch to The Star. NEW YORK, November 6.—An analysis of the various industrial com- ghlny balance sheets at the end of arter indicates that low., "This is corrob- onted by _testimony from specific in- dustries. The recent Hoover report on unemployment rellef stated thnt sup- plies have been gradually used up and that “stocks of merchandise in factory and in store are really depleted.” A number of forw..J-looking indus- trial corporations have been ing ad- vantage of the low prices of com- modities to bulld up reserves of staples for future Be occurred among the compnnlel which the lowest ‘Drices of tho. year:. among e ; among '.he electrical companies, which have n_building :s Teserves of copper at 'I eenu l and among corpora- tions using quantities of sugar, cocoa and grain products. Many of the textile enmlvlnm bought raw cot- ton near the low rhes of the year und are now the benefit of ir good business judgment. AND BOND AVERAGES By the Associated Press. Prom Yesterday's 5:30 Edition. prices in Inu-‘l favor at a range 14 .00a17.50 per ton. Straw—No. wheat, 8.50a9.00 per ton; No. 1 oat, 9.00210.00 per ton. CHICAGO LIVE STOCK MARKET CHICAGO, November 6 () (United Hogs—26,000. head, including 10,000 direct; fully 10 higher nun ynterday'l average; 220-300 pounds, 4.80a5.00. t% 8.00; 170-210 pounds, 4.65a4.85 140-14 unds, 4.5024.65; pigs, 4.1584.50; pack- sows, 4.1 and cholce, 140-160 pounds, 4.50a4.68: light weights, 160-200 ds, 4.55a4.4 !5' medium weights, 200-250 pounds, 4.768 5.00; heavyweight, zuo-ssn pounds, 4.75 25.00; packing sows, medium and gcod, 275-500 pounds, 4.1024.60; pigs, md dmloe lW-laO , 4.1524.60.% E ,500 head; calves, uno he.d slaughter steers and yearlings autdy. butcher she .utack. low_cutters cutters active strong; bulls slo', steady and 'uu!! firm; llflckfll and- feeders weak. Sla; and vealers—St and choice 600-900 pounds, 8.25a 1.75; 900-1,100 pounds, 8.25a12.00; pounds, 8.26a12.00; 1,300- 8.25a12.00; common and ds, 3.75a8.25; 551 dl. good and choice, 500-1,050 pounds, 41] 26.75; common and medium, 3.25a5.00 !heflp—neulpu. uwoo head; me w early ve llmbl». 5.508 ‘Westerns unsold; IIQ ewes, 200‘ !hn(hter sheep and lambs—Laml Mlfidtholce 5. “50 mc;ilum 450‘.’! ‘medium to choice, usu.-ts: -u ‘weights, cull and common, 1.00al1.75; feeding lambs, 50-75 pounds, good and choice, 4.5025.00. ‘ther last week, but call funds remained unchanged. In the levels that follow the average for both classes of monéy