Evening Star Newspaper, November 28, 1931, Page 14

A—14 THREAT 70 GROUP BANKING IS SEEN Wisconsin Legislative Pro- posal Would Limit Member- ships in Clearing Houses. BY C. M. UPHAM. The first serious legisiative threat | against group and .chain banking is contained in a bill which has just been introduced into he special session of the Wisconsin Legisiature by the Interim Banking Committee, with the | epproval and support of Gov. Philip | La_Follette. The bill provides for local Clearing House Associations, composed of both State and national banks. Member- ship would be denied, however, to banks 10 per cent cr more of whose stock is owned by a holding company. All of the privileges within the control | of the State would be “granted ex-, clusively to those banks that are mem- | bers of the Clearing House Assccia- tions.” Group Bank Organizations. The two principal group bank or-; ganizations that operate in Wisconsin are the Wisconsin Bankshares Cor- peration in Milwaukee and the North- West Bancorporation <¢f Minneapolis. The former owns the stock of some 50 banking institutions in the State and the latter controls seven. The First Bank Stock Corp-ration of Min- neapolis & d out of Wisconsin partly because of the possibility of ad-| verse legislation of lhla character, it is believed. If the proposed legislaticn is en- acted, even greater interest will center | in the banking proposals that the Glass subcommittee will make to Congress here shortly. If, as is anticipated, Senator Glass' committee recommends the enactment of a law permitting na- tional banks to engage in State-wide branch banking, regardless of State Jaw on that subject, the Wisconsin Bankshares Corporation will be readily convertible into a branch banking sys- tem, with the First Wisconsin National Bank at the head. Unless an even more extensive grant were made, per- mitting _the operatin of _branches across State lines, the Minneapolis group would have to choose between having its Wisconsin units ms"rim- inated against in the matter of “priv- ileges” or relinquishing control cf them. Governor's Message. Gov. La Follette in his message to the legislators pointed out that the majority of them and all of the State officers were elected upon a platform pledging them to “use the powers possessed by the State to enable the people of Wisconsin to keep control of the credit which they have created.” The issue involved in chain banking. the Governor maintains, is who is to own and control the money that the people produce. He insists that the cwnership of banks should be “in the hands of individuals who primarily re- side in and are a part of the community life whose money is deposited in their banks.” One of the substantial evils of group banking, the Wisconsin Governor de- clared, is that it introduces stock pro- motion into the ownership of banks. The enactment of the proposed bill, he claims, would mean the elimination of stock speculation and promotion from banking in Wisconsin. Gov. La Follette attacks the "parent bank of our largest chain system” by the assertion that it has on deposit from other Wisconsin banks nearly 10 times as much as it has loaned to other Wis- consin banks. Bankers who have considered the pro- posal, prior to its introduction in Wis- consin, are doubtful as to how serious the handicap would be to a bank not a member of a local clearing house association, by virtue of having “priv- fleges” withheld. Congressional Action Watched. ‘There has been no definite statement on what these “privileges” are. The cne usually in mind is designation as a dennsitory for State funds. Under pres- ent conditions this is not regarded by most banks as a particularly valuable privilege, in view of the fact that secur- ity must be posted for such deposits and that interest must be pald on them. Chief interest here centers in_the effect which this action by a State affecting the activities of a national bank will have upon Congress when it considers legislation enabling the na- tional bank by branch authorization to circumvent the State. (Copyrisht, 1931) Washington Produce Butter—One-pound prints, 36; tub, 35. | Eggs—Hennery, 38a42; current re- ceipts, 28a33. Poultry, alive—Turkeys, young toms and hens, 22a28; old foms, 20; old hens, 19a22; chickens, 3 pounds and over, 18a20; 2 to 2}, pounds, .0a22; Spring broilers, 23; hens, large, 18a20; small, 15a17; Leghorn hens, 13al roosters, 10a12; keats, young, 40a45; old, 25a35. Poultry, dressed—Turkeys, young hens and toms, 34a37; old toms, 27a29; old hens, 30a32; chickens, 3 pounds and over, 21a23; 2 to 2!, pounds, 23a25; Spring broilers, 30; hens, large, 21a2: small, 18a20; Leghorn . hens, 16al8; roosters, 13al5; Long Island ducks, 19a20. Meats—Beef, prime, 15':; good, 13al4; co top, 14; medium, 11al2; Iamp‘ top, 13; medium, 10al1; pork loins, 8 to 10 pounds, 12;’ 12 to 15 pounds, 10al fresh hams, 14al5: smoked hams, 1 20; strip bacon, 19a20; lard, 50-pour tins, 9; package, 10; compound, Fruiis—Oranges, Florida, 3.7524.0 California, 3.5 ; lemons, 4.00a4.50; 16; cho!ce. 15a 1;a9; veal, _(in the last two years. German exports | FINANCIAL. (Continued From Page I Stock Dividend Rate. Port Ric Am Tob(A) Port R Am Tcb (B). Prairie Oll & Gas.... Prairie Pipe Line Pressed Steel Ca % Proct & Gamt 2 115 Pro & Refiners. Prod & Refiners p 517 Public Sve NJ(3.40). 87 Public Sve NJ pf (5) Public Sve NJ pf (6) Pub Sve G&E of (5). Pullman Corp (3). Pure Oil Sales— Add 03, 1931 Hizh. Low. 2L 8 -4 D pranweRnwstasande-S o Radio Corp. Radlo Corp pf A 334 Radio Corp (B) (5). Radlo-Keith-Orph A Raybestos Man (1.60) Reading Rwy (4)... Reading Ry 2d pf(2) Remington-Land. .. Reo Motor Car(40c). Republic Steel. . Republic Steel pf Reynolds Metls(134) Revnolds Toh B (3). Rhine W El P(a2.14) Richfield O11 foonion Ritter Dent Mfg 1%. Rossia Insur (2:20). 5 o Safeway Stores (5). Safeway Strs pf (7). 5t Joseph Lead (1).. StL-San Francisco. . StL-San Fran pf(6). St Louis Southwn. .. Schulte Retall Stores eaboard Alr Line. .. eahoard Ofl. agrave (40c ears Roebuck Servel Inc. .. Sharon Steel Hoop. . -3 EYc * Shell Unfon O11 Simmons Co. ... Simms Petroleum. Sinclair Consol Oil roRwniomasdnBoean elly Ol nf ww., Snider PAcKing. .. ... Socony-Vacuum (1). South Port Rico Sug Sou P Rico Sug pf(8) Southn Ca) Ed (2). Southern Pacific (4 Southern Rwy (m6). 2 Southern Ry pf (5).. South Ry M&O ct(4) Sparks Withing (1). Spear & Co. . Stand Brands (1.20). Stand Comel Tobacce Stand Gas&El (3% ). Stand Gas&E!l pf (4) Stand Invest Corp. .. Stand O11 of Cal(2%) Stand Ofl NJ (12) Sterling Secur cv pf. Stewart Warner. Stone& Webster (m2). Studebaker C0(1.20) Superheater Corp. .. 15 Superior Oll. 34 Superior Stee 12% Telautograph (1.40). 2% Tennessee Coron. 15 Texas Corp (2).. 20% Tex Guif Sulphur(3) 30 Texas& Pacific (5).. 214 Tex Pacific Coal&Ofl 4% Tex ific Land Tr. 5 Thatcher Mfg Co 2 Thermoid C¢ 51 Third Avenu S| 12% 20% 42 % 2814 281% 19% 4% lz' 88% 64in 4% B3 5214 40 217% b4y 26 40% 1% 18 21% 915 15 9 15% ° wet. High Low. Close Chge. 415 4% 4% THE EVENING STAR, WASHINGTON, D. C., SATURDAY, —193— Low. 13 3.) % 34 Transam 23w 27% 11% 87 631 18 12 23 64 1% Underwo nion Pa: Un Tank Unit Plec: U S Gyps! U S Real 12% 35 531y 114 1% 21 U S Steel U S Steel 8 Utll P&L. 13 Va-Cora Va-Car Vulcan I rd Ba Warn Warren E Warren ¥ West Pa Western Western W estern Western Westin, Vhite Se Wilson & Wilson & Wilson & Woolwor 80% 15 29 78 5% 1 G 7 Wrigley 't-. Yellow Ti Youn o vidend rates as e d 3% in ‘st | Stock. Stock and Dividend Rate. Third Nat Inv(mé5c) 3% Tide Water Asso Oll. 4 Timken-Detroit Axle 19% Timken Roller B(2). 1% Tobacco Products. .. 7 Tobacco Prod A t96c. 3 Tri-Contl Corp, 19 Twin City R Tr pi 2% Ulen & Co. Union Carb & (2.60). Union Oil of Cal (2). Union Pacific (10).. Unit Atreraft. Unit Biscut (2) Dait Carbon DAt Cigar 8 Unit Corp «76c). % D9t Corp pf (3) Unit Electric Coa 4 Unit Frult (3)...... 'nit Gas&Im(1.20). Unit Plece D W (2).. payments based on the Jatest guarterly ,;un is NEW YORK STOCK EXCHANGE Received by Private Wre Direct to The Star Office. Net. Hish Low. Close Chge. 18! 5% 15% — % :m 418 201 Sates— Add oo, T 3 3% 25 3% 23% 32 15% 8% 6319 erica Corp.. 17 (3) 0d. cifie pf (4). Car (1.60).. 134% e DWpS 6% 1I'S & Forn Secur. .. um (1.60).. U S Indus Alcohol U S Leather........ U S Leath or pf (7).. U S Pipe & Fdry (2). ty & Imp. U S Rubber. ... U S Rubber 1st pf... U S Smtg & Ref (1). U S Smtg&Ref pf 3% Corpn (4). pf (7). United Stores (A United Stores pf ( 1 Univ Pipe & Rad. ... (A) 01215, 8% Vanadium Corm. . Chem em 6% pf. Va-Caro Chem pf «7) Va Elec& Pwr pf (6). etin (4) king (A) 3ros Plctures. 3ros Bros cv pf 3. Warren Fd&Pipe(2). Wehster-. Wesson O11&Sno(2). isenlhr pf Pwrpt (7). Dairy (B).. Maryland. . Pacific pf. . Union (6).. Westinghse A B(2). Wsthse E Weston Elec Instru. ‘heeling Steel. hite Motors. wing Mach. Co (A). Co pf. th (14.40).. Worthington Pump. . (Wm) (4).. ruck. Spr& W/ Irn‘(”) Ygstwn Sheet&Tube. Zenith Radio. ‘onite Prod RIGHTS—EXPIRE. 2% Peop G L & C..Jan 15 5 3 2% given in the above table are the or half-yearly than 1 TPartl: in stock a Paid last year—no Pagable in cash o stock u: Plis 500 (n speclal preferred Jnnual cash leclarations. tra, aid this ear—ne SeRuler rete B 2Th% in stock i s PACKERS INCREASE SALES WITHIN U. §. Industry Tries to Offset De- clining Exports by Larger Domestic Trade. BY ALVIN RESCH. Written for the Associated Press. CHICAGO, November 28.—The meat- packing industry has met the challenge of sharply declining exports by market- ing a greater proportion of its products in_the United States. This has been done in the face of domestic production which has main- tained a high level, approaching nor- malcy, and gives no hint to any tend- enc to drop. Figures compiled by the Institute of | American Meat Packers from Govern- first 10 months of 1931 totaled approxi- | mately 10,410,000,000 pounds, dn in-! crease over the 10,346,000,000 pounds | consumed in the same period of 1930. | Production Figures. ‘ And this higher domestic consump- tion followed closely on the heels of production figures. For the first 10| months this year American pmduction‘ of meats and lard aggregated 10,834,- | the same months was less—10,759,000,- 000 pounds. Meanwhile exports of meats have fall- en in some cases to unprecedented lows. Total American exports of all hog| products during the marketing year | from October, 1930, to September, 1931, for instance, were the smallest for more ‘than 30 years Increased live stock production in| | most European countries is given as the major reason for the slump in Amer- ican exports. Especially has the hog crop shown an increase in Germany with the result | P that American imports of bacon in | that country have dropped 80 per cent | of bacon to the United States, on the | other hand, have displayed a marked in- tangerines 75; grapes, Emperors, ‘Tokays, 1.15a2.00: grapefruit, apples, bushel baskets, 50a : fancy box stock, 1502250 pears, 00; _ pincapples, 3.0083.50; nanas, 2.50a3.00. Vegetables — Potatoes, Maine, 100- pound sacks, 1.25; New York, 150-pound | Backs. 175: Toaho bakers, 100- ncund sacks. 225 sweets, per bushel, string 1.50a2.00; limas, 6.50; 4.0024.50: _artichoke 3.00a3.50; kale, 50; spinach, 75 broccoli, 3.7584.00; lettuce, Iceberg, 3.5024.00; New York, 50; cucumbers, 5.00; celery, crates, 2.00a250; bunches, 75 . crates, 4.50a ans, eggplant, bunches, 4.00 per 100 bunches, 4.00: mushrooms, asparagus, 5.75; turnips, per bushel, 5 peas 8.00a9.00; salsify, per dozen bunches, 75; cabbage, new, baskets, 1.50; old, sacks, 1.00 SAVINGS DEPOSITS OFF IN ATLANTA SECTION Savings deposits held at the close of September by 64 selected banks located throughout the sixth Federal Reserve district were in the aggregate 1.3 per cent smaller thaa for August and aver- aged 6.5 per cent less than for Septem- ber last year. A small increase over August at Atlania, and a gain at Nash- ville over September, 1930, were offset by decreases at cther points. Total deposiis 2t the banks at the clese of St nber eggrezated $242, 321,000, against £245.543,000 at the end of August and $289,038,000 on Septem- ber 30 last year. 4 g O Sarah Ann Perry, who recently died at Alnwick, was 108 years old and Eng- | Jand’s oldest woman, and worked cn the Jinwick Castle estate under seven Pukes of Northumberland. E- crease since 1929, Even in this era of falling prices on meat-packing plants was rated by the |0 | holds to”its traditionai contention that | no meat must be wasied irrespective of higher production or lower exports. | Largely because meat production has been maintained at a high level, how- ever, employment in Américan packing plants has suffered only a slight decline, Employment in slaughtering and | meat packing plants was rated by the | Federal Department of Labor at 89 per | cent of the 1926 “normal” for October | | this year, compared to the rating of | 94.5 for October, 1930. Plant Pay Rolls. Equally favorable in the light of sta- istics on many industries were the de- partment’s figures on pay rolls in i slaughtering and packing plants. For Octeber the industry’s pay roll total was rated at 83.6 per cent of the 1926 “normal,” against 959 per cent for October, 1930 In Sepicmber this year 204 slaughter- | ingand packing establishmentsthrough- | out the Nation employed 81,705 men, | with a weekly pay roll in excess of | $2,000,000. 1 Although most packers have reduced the pay of “salaried” employes, wage | cuts of men working by the hour have | not been general. Some large Chicago | plants still guarantee a 40-hour week to wage earners. NEW SECURITIES. NEW YCRK. November 28 ().—New securitles o d today include: North B n Lighting Properties, $7,500,000 per cent secured gold notes, due December 1, 1932, priced at 100 and interest yielding 5% per cent, by # syndicate headed by the Chase Harris Forbes Corporation. ——— A ment reports disclose that domestic | consumption of meats and lard for theIC & 000,000 pounds, while the 1930 figure for | b, | Columbia (1 SALES. 101%. AFTER CALL. Wuhlnnon Gas 65 “A"—$1,000 at Powmnc Electric Cons. 55—$1,000 at Washitigton Rwy. & Electrle pfd.—10 at 9315, 10 at 93';, 10 at 937, Washington Rwy. & Elec. 4s—$1,000 at 86, $1,000 at 86, $1,007 at 86, $1,000 at 86, $1,000 at 86, $1,000 at 86, $1,000 al Washington Gas 5s—$1,000 at $1,000 at 100. Potomac _Electric 5%% pfd—10 at 106, 2 at 106%. Potomac Electric 6% pfd.—5 at 110%. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer, Tel, & Tel. $t%4s '3 100, Bld. Asked. it i Potomac Elec Con 61853, R ‘ Wash. Alex. ; & Mt. Vernon et dvas. | Wash: 8% Barber & Rose, Tl S A Columbia Country ?ub 5 . er Cold ‘Storage 6 Wash. Ih’dkl. STOCKS. PUBLIC UTILITY. Amer. Tel. & Tel. (9).... Capital Traction Co. (4) Yashington Gas Lizint Co. (18). - N. & W. Steamboat (1) o 2i0 Elec. Power 6 POt Flec. Power 8% pid Wash Rwy. & EI com (7). Wash. Rwy & EL pfd. (5) NATXONAL BANK. |apital ). Por® Commercial (stamped) (10} v Nai. Bk, & Tr. (3 Secon Washibeton (i3) TRUST COMPANY. Amer_Sec. & Tr. Co. (15) Continental Trust (6). Potomac Electric Cons. 55—8$1,000 at U; | Columbia (6h) | Commercial WASHINGTON STOCK EXCHANGE QUOTATIONS AND DAY’S SALES Natl. Bav. & Tr. (121 Prince Georges Bk. & Tr. nion Trust (8s) Wash. Loan & Trust (i4) SAVINGS BANK. Bank of Bethesda (6§). Com. & Savings (10) East Washington (13} Fotomac (10} = D & Com.” Bk, Sventh Sirect 19 United States (30) L8 Washington Mechanics {30).... FIRE INSURANCE. American (12). orcoran (10)... Fireren’s (8, National Union’ (15} TITLE INSURANCE. 1) Real Estate (6h). ... 11! MISCELLANEOUS. ol Medical Blds. Corp. (8) Col, Sa Fed. »Am Co. pfd. (6). Lanston Monolype (6) i “sz Fogs Real Est. M. ru Bld Ter. Ref & Wh. Corp (!) 'I'P‘Hl Cfl:n!l Corp. (2) A com ed, Blde. Gorp. (1 Woodward & Lottiron eom. (1,30} Woodward ‘& Lothrop prd. (1) *Ex. dividend, 527 extra. bBooks closed. ¥214% extra, nasc extra. #3% extr 130¢ extra. he% extri 5% extra. .e',n. ell2% extra, Unlisted Department. (These securities not listed under Exchange s ) BONDS. Army-Navv Club 5s. Cosmos Club 41ss.. . i Mavfiower . Hotel S Metropolitan CIub 415 Nat. Press Blde. 1st 5'3s. STOCKS, Anacostia Bank pin Sacks 8 onnecticut Pie hr. Heurich Brew: District Title Insurance Co Franklin National Bank.... Munsey Trus| A North o { Raleigh_Hotel ‘Co.. Washington Savings Bank ... Washington Title Insurance Co. Washington Base Ball Club.. Woodridse-Lanedon Bav. "Bank. 30 PUBLIC BUYING SHOWS | GAINS DURING MONTH Special Dispatch to The Star. MINNEAPOLIS, November 28. Sharp gains in home building and in- | surance, a moderate increase in retail | buying and an apparent end to the de- | cline in living costs feature the changes in consumer habits since last month, according to the Investors' Syndicate monthly consumer index | The upturn in home building comes as a pleasant surprise at this time of | year, since the trend is normally down- ward. The upturn in insurance buying, coming at the same time as a decline in savings, again indicates an interest- ing change in consumer habits, since | insurance buying had been steadily de- | clining, while savings had been mak- ing new highs on successive months. Condition of Average Consumer. Income— Peg cont change from Lastmo. Lastyr. | Wages e 3 6 —26.1 | Inyestment 'income. e o=ae| Gutgo— { Retall” buying. .. = Cost of living Auto buying . ’ Home bufldln( Progress— Security lnvrstmrnl X Tnsurance ; | Bavings i Referee Is Knocked Out HAZLETON, Pa. (#).—Jim Murray was refereeing th foot ball game be- tween Cranberry and Hazleton. A play- er gave him a punch. Murray let that pass. A little hur another cI:Iuy" gave him another punch, whi knocked \Agricultural land in England has been reduced 82,000 acres in the last year. & Murray unconscious. When he came to, he discovered the game had been award- ! ed to Hazleton, 3-9, by the umpire. FACTORS ENUMERATED WHICH PRODUCE “BOOM” “The hum of many factors that could lead to a boom™ has continued in earn- est, says a London Stock Exchange Gazette writer, and Monday's news of the Stock Exchange Committee's de- cision to relax the restriction of dealings to cash transactions on and from Mon- day next has strengthened the tone of cheerfulness that was already quite lively. The rises scored on Monday last Ak made a truly remarkable list to study, ond was a true record that the week’s tusiness began in a spirit of determina- tion. The prime minister’s pronounce- ment at the lord mayor's banquet in the evening was a salutary and cate- gorical reminder of the number, the dimensions and the complexity of the tasks that confront this country. Willy nilly, we are still largely in charge of the world. man knows that we are still reminded, end frequently, by “intelligent foreign- ers,” that they look to us for a lead in a number of matters of the first im- | portence. EAGLE IS TRAPPED Bird With 7-Foot Wingspread Was £ Preying on Deer. BONDPRICESDROP | [ow v vome BONDS moce secmamcr] BOND SALES DRO INAGTIVE TRADING portions Than on Previous Day’s Transactions. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, November 28—While bonds moved lower today, their de- clines, except in a few instances, were not nearly as large as on Friday and Thursday. Trading was fairly active. The opening was lower. Overnight news developments were of a negative nature, with the Manchurian situation dominating the foreign department. There was pressure again on Japanese bonds and, as a sequel, on practically the entire foreign group. British 5125, additionally heavy because of the heavy break in sterling, dropped to a new low on the current reaction, nearly 5 points under their recent high. Belgian 6s, Italy 7s and other Europeans were af- fected by the same type of liquidation. German government 5'2s and Dawes reparations 7s were at new lows in spite of the agreement of international bank- ers on measures to protect their Ger- man short-term credits after the expi- ration of the standstill agreement on February 29, 1932. The clearing up of the uncertainty of this interpretation of the “stillhaltung” agreement was a most_urgent necessity two weeks ago, but Premier Laval's insistance on the priority of reparations over private debts now looms as the big obstacle to a solu- tion of the German problem. German municipals like Berlin 6s, Cologne 6'.s, Frankfort 6!,s and Saxon 7s were off 1 to 2 points. German ipdustrials were also lower. German General Electric s sagged 2 points. Canadian government issues were still under pressure. Canadian National Railways bonds, guaranteed by the Ca- nadian government, were a point lower. The $150,000,000 Canadian internal loan was reported three-quarters sub- scribed today but other factors have caused a definite weakening in ex- change rates and as a result lower prices for Canadian obligations in New York. The Canadian bond market was reported firm. In the domestic list the outstanding weakness was in New York Central bonds. The refunding 4'2s of 2013 were off 3 points and the new refund- ing 415 of the same maturity were 4 points lower. The 5s lost 2 points. FINANCIAL ADVERTISERS HAVE NEW COUNCIL Announcement of the organization of & senior advisory council of the Finan- cial Advertisers’ Association was made today by Charles H. McMahon, presi- dent, who was chosen to head the as- sociation at the annual convention in Boston in September. The new council is composed of 15 members, nearly all of whom are past presidents of the association. ‘Those appointed are Clinton F. Berry, Union Guardian Trust Co. Detroit; Frank LeRoy Blanchard, Henry L. Doherty & Co.. New York; A. E. Bry- son, Halsey, Stuart & Co., Chicago; Guy W. Cocke, First National Bank. Chicago; Fred W. Ellsworth, Hibernia Bank & Trust Co., New Orleans; Carl Trust Co., Chicago; M. B. Holderness, First National Bank, St. Louis; Robert J. Izant, Central United National Bank, Cleveland; E. H. Kettredge, Hornblower & Weeks, Boston; W. R. Morehouse, Security-First National Bank, Los Angeles; Gaylord S. Morse, Central Manufacturing District Bank, Chicago; Ethel B. Scully, Morris F. Fox & Co,, Milwaukee; Francis H. Sisson, Guaran- ty Trust Co, New York; Fred M. Staker, Commerce Trust Co., Kansas City; Charles H. Wetterau, American National Bank, Nashville. New Bond Offerings lIxnp. NEW YORK, November 28 (#).— New bond offerings formally made dur- ing the past week amounted to $12,- 466,920, compared with $13,954,400 in the previous week. INVESTMENT TRUSTS NEW YORK, November 28 (#).— Over-the-counter market: C Tr Shrs D. Bansicilla Corp Basic Industry Chartered Inv pf.. Chelsea Exch A Corporate Trust _ Corp Tr Accum Ser Crum & Fost 87, pf.. Grum & Fost Ins.. Incorp Invest Eaui Independ T’ Repres Tr Shrs. . Second Int Sec Allll Second Int Sec B Every prominent_business | Spe: 4 _Cone™ Trust State smeh "" An eagle with a wingspread of 71U Jervis, by Ralph Spence, an employe at igh Point Park. ‘The eagle had been preying on young deer. It is now in the park menagerle. feet was trapped near Port . N_IU e Fow Lt & P Universal 15 Ba. Decline HeId to Smaller Pro-Il A. Gode, Continental Illinois Bank & |Ch 4| col GaE 5 NOVEMBER 28, 1931, UNITED STATES. (Sales are in $1.000.) Sales. 2-47.. 40 x.uuuss 47 L 4th 43,5 33-3 U S 351951~ Abitib! P&P 58’53 Ab & St 5% "43. Adams Exp 45 '48. . Alleghany Cp Allegheny § Allegheny 63 '50. Allis-Chalm Gs Am Metal 5148 °34.. Am N Gas 61842, Am S&R 1st 5347 Am TAT cv 4%8'39 AmT& T 5s'65. Am T&T c tr 63 '46. Am T&T bs s f'60. Am T&T 6% '43. Arpentine 5%s62. | Argentine fs Oc'59. Argentine 63 A '67. Argentine 68 B '58. Arm & Co 4%s'39. Arm Del 5%58*43. Atchison gn 4895 Atchis cv 44848, AtICLcl 4s'52 At Gulf 5559 Australia 58755 Australia At e s Austria 78 ‘57 B&O4s"4s.. R&O4%s'33 B&Ocv4%s'60. B &O 1st 53’48 B&OrfE5s'95. B& O P&WV. B&OSwAvh Bk of Chile 6 Bk Chile 6% 5 Ratav Pet 4145 '4! Belgium 65 '55. ... Beigium 634549, .. Belzium 7s'55. . Belgium 7s ‘6. B Ind Loan C 6846 Bell Tel Pa 68 B 48 Beth Stl pm bs " Beth St1 rf 5143 '42. Bolivia 7s '58 Bolivia 7s 69 Rolivia 8s 47 Bordeanx 6s ‘24 Bos &Me 5567 11 6148 "2, 11 6% 82 1188 °41. Bremen 78 '35 Bklyn Elev 6 Bklvn Man 6= Buff Gen EI 4% 8'3 BR& Pitt 44857, Bush Ter con 58 ‘55 Calif Packing 58 *40 Canada 4s '60 Canada 4%x'36 3 at 4% 857, 4%8°55. . Can Nat 5s July' Can Nat 5s Oct '69. Can Nor 4%s "3/ Can Nor 63%s dh 46 Can Nor 7s db *40 Can Pac db 4s Car Clin & O 55°38. Car Clin & O 65 '52. Cent Pac 43 Cent Pac fs *60. Cen Rv NJ g 55 '87. Cert-td db 53« *48. Corp 58°47. C&Omen 41%n'92, C&04%sB'95 C B&Q 1st rf b5 71, Chi Grt West 45’59 Chi nd&Lou 6566 Chi M & StP 445 C C M StP&P 68 '75.. CM&St Padibn. . Chi & NW gn 45 ‘8T Chi & NWen 4%s Chi&NW rf 5s 2037 Shi & NW 6%s'36. . Chi RT& P rf 4834 ChiRT& P 4%s'62 Chi RTev 4%s 60 Chi Tn Sta 4%s '63. Chi Un Sta 6145 '63 C& W Ind 5%s"62. Chil Chile 8s°61. Chile 78 *42. . Chile Cop db 58 *47. Christiana 65 '54. . CCC&St L 4% = E'77 o Colomb 6s Jan 't Colomb 6s'61 Oct Colo & Sou 4%s'35. s May'52 Col G&E cou bs 'n ConG N Y 5%s"45. Consum Pow 58 52 Con Pow Japan 7s. Copenhag 58 '52... Cuba 5%8 45 s Cuba Nor 5148 "42.. Cszecho 8s°51.... Del & Hud rf 4s°34. Del Pwr&L 4%s 71 Denmark 4%s '62. . Denmark 5%s '55. . Det E GER4% s 61. Det Edison rf 55’49 Deutsche Bk 68 ‘32, Duauesne 4% Dodge Br cl 624 Dutch East I 6s°47, Dutch East I 6562, Erfe zen 4 Erie cv b3 Eris 5376 Flat 7s ex war '46.. Finland 68 *45 * | Finland 6%s 5 Finland Fla E Coast 587 Fond J&G 4%s 52, Fram I D 7%s"42., French 7s "4 French 7%s Gen 'St Cas 5%s'4 Gen Th Eq 6s'40. . German 6% German Bk ep ‘49 German Blnk ) Ger Gen El 78" Goodrich cv 68 *45 GrandTr sf db 65’36 Grand Trunk 75'40. Grt Nor 414876 D. Grt Nor gn 6%8 ‘62 Grt Nor gn 78 '3 Hav El Ry 5% Hungary 7%8 4 111 Bell Tell 63 °56 111 Cent 4% 111 Steel 4% Inland St 4%8 B’ Int Rap Tr Int & Gr Nor 58 Int M Co 68 Int Match 6s 47 Int MM col tr 6341 Int Pap 53 A '47 Int Pap 68 '55. Int Ry CA 58 IntT&T4% Int TET cv 4 %5'39. IntT&T68'55.... Irish Free St 55 '60 Italy 78 '51. Japane: CinUnTrust 58 2020. o o M WA IRES RO~ S e S aan e B Hign. Low. 55728 55 28 05, 28 100 25 100 19 100 24 101 27 100 28 10113 101 104 18 7 flfi’h 7315 519 65% 17T 90% 18 98y 8 6T 12 45% .10 51 10 50%5 25 84 8 49 R B2y 12 7% 28 62 1 7 118% 3 601 86 1024 10 61 % 331 331 30 Japane o 68 B4n117 104 14 104 1% Salen Hin. fow. cluu % 105 991 99y 102% 102% 10% 10% 1010 1315 1815 101% 101% 10115 101% 100 100 ‘4 % 111% 111% 93 16% 104% 76 93 633 2% 80 59 25% 35 113% 113% 118% 118% 59 59 102 102 60 60 86% 804 FINANCIAL. Bates. nm:. hq Close. Jugosl Bnk 78 '67.. 2 1 I Kan City Sou 3'50. 1 [ Kan City Sou .3 Kan City Ter 4s'60. 11 Kan G&E 4%s°80.. 1 Karstadt 6s '43. 7 Kresge Found 6s” Kreug & Toll 68'59. Lac G St L 6s "34. Lautaro Nit 6s '64. Leh V cn 4%s 2003, Lig & Myers 75'44.. Loew's 63 ex w *41. La & Ark 53°60. Lou G & El 58 Lvons 63 '34 McKes & R5%s°50, Manh Ry 1st 4590, Man Ry 2d 4s 2013, Market St 7s *40. .. Marseille 63'34.... 3 101% Mex 4s2std 1910°45 2 Midvale Stl 58 '36. . 1’ Milan 6%s852..... Mil E Ry & L 58 '61 10 Ml E] Ry&Lt 6871 5 M StP&SSM cn 4s. 2 MK&T st 45'90. MK & T adj 53’67 Mo Pac gn 4s'75 Mo Pac 55 A '65 Mo Pac 55 F Mo Pac s G '78. Mo Pac 55 H '80. Mo Pac rf 63’81 Mo Pac 5%s Mont Pow 5: Mor&Co 1st 4% Nat Dairy 53848 6 65 4 38% . 3 32 1 8814 5! NOT&M5%s Nw S Wales 68 '57 Nw S Wales 5s '58. N Y Cent4%4s52013 20 NY Cnrf 4%852013. 36 NYC rf im 582013, 15 N Y Centdb6s'35. 1 CLScl3ls" YC& St L 4s'37 Y C&sui’uu ‘78, 46 { N Y Edisn s VH&H 4% 8 o H&H cd 68 O&W 1st 45'92.. NY O&W gn 43 '55. NY Tel 4%s '39 NY W&B 4% '46. . Nord 6% '50. Nor & Wn ev Ner Pac 4s'97. Nor Pac 4%s 204 Nor St Pw aA‘fl. 10 A\or"yfl. P TP - P O PO S ot Norway 68 '44 Norway 6s ‘62, Oreg-Wash 4s Orfent dev 5% Orfent dev 6s Pac G&E 58°4: Pac T&T rf 53 ‘52 Paramount 65 °47 Paris-Ly M 68 '58 Paris-Ly M 78 '58 Paris-Or 5%s '8! Pathe Exch 7s ‘37 Penn 4%s D81 B PETTTISPRTINL RIS i - ST v Penn P&L 43%s Peru 6s 61, Peru 7s '59. Phila Co 65 '67. Phila Elec 43 '71 Philllp Pet 5% ‘39, PCC&St L 55 B '75. Poland 7s '47. Poland 8s'50. Port Gn El 4%8'60. 17 PorRAmT6s'42. 3 Pos Tel & C 5s'53.. 21 Prussia 6s ‘62 Public Serv 4s Pub Sv G 4%s°70 Pure O11 53837, Queensiana 63 *47. Reaa gn 4%s A '97 Reading +%s B '97, Rem R5%s A "47 Rhinelbe 7s '46. Rnine West 6: Rhine Wi Rhine W { R Gr Do Sul 6s " Rlo Gr W 1st 45 '39 Rome 63%s '52. . Roy D 4845 ww. StL IM R&G 45'33. St L&SF tn 48 A '50 27 StL&SF4%s'18. 64 StL&SF p 1 53 B '50 StLS W 1st 45’89, StS Wen4s'32 StLS W bs 52, StP&KC SL 4%5'41 SanA & A P4s’43. Sao Pau 78'40 ret. Sao Paulo 88 50 Saxon P W 6%8'51. Saxon 7s 45 Seab A Lev Sea Al Fia omA'SE. Seine 75 *42. Shinyetsu 6% Sinclair Ol 6 Sinc Cr O 5%s'38.. Sinc P L & Soissons 63 Sou Bell T&T SouP ik 6o ww. 16 Sou Pac 4348 '81... 13 Sou p&on%-”n. 10 Sou Ry gn 4. 2 Sou Ry 5 Sou Ry 6s '56. StOII'N J 5846 Swiss53%48'46..... Talwan EP5%s71 5 Tenn Cop 6s "44.... 1 TennEIP6sA'47. 5 Texas Corp5s'dd.. 2 Third Av adj 63 °60. 16 Toho El Pw 68'32. 30 Tokio 5% *6: 2 Tokio EIl Lt 68 '53.. 28 Un Pac 1st 48°47, 2 Un Pac 4s '68. 1 U S Rub 1st b8 d'l.. UnSt W 6%s A'47. 16 UaStwe 'n.. 15 T 1 1 16 2 Uruguay 6s 'u. e Uruguay 8s 46. Utah P & L 5s '44. Util Pw 55 '59 ww. Utll Pow 5%s *47.. Va Ry 1st 53 '62 West E1db 58 "44. West Md 4s ‘62 Wilks B & E 1st 5s. Wil & Co 1st 6s°41. 10 Cent gen 45’36 2 Yokohama 6s *61... 29 2 ¥gstn S&T 5s B'70. 9 JOBLESS TOTAL MOUNTS Unemployment in Belgium showed a considerable increase during the month of August, according to official Belgian statistics recelved by the Department of Commerce. On September 5 out of 717,757 insured workers 70,893 were completely out of work and 120,669 on part time. These figures compare w! a total msured on August 1 of 713, 750 of which 64,644 were completely unem- ployed and 116,757 on part time. According to the department’s advice, the total of days lost in August was 2,661,634, as against 2,213,667 in July. The textile and metallurgical lndustrlm continue to account for the largest number of unemployed. 2 & since 1929. | buying came coincident with a t ON PRICE DECLIN End of Bear Market in De- bentures Is Seen by % Observers. : Special Dispatch to The Star. NEW YORK, November 28—The sig- nificant phase of the current liquida- tion of securities, so far as bonds-me concerned, is the sudden contraction' of the volume of trading. The liquidatien of the last three weeks, which has eent the price average of the market dwen more than 5 points to the lowest lavel since 1921, was accomplished im* a volume of trading almost as low as m of last August. Wall Street sees in this dtvelopmnl the approach of the end of the bear market in bonds. Those who bought bonds around the October lows—when trading was in heavier volume tham:it was even in the hectic days of OctdBer, 1929—are not disposed to sell their holdings, and those who bought..at substantially higher levels have eithér been forced out of the market or mave put their bonds away for the long puil. Sales Volume Figures. ok ‘This may be {llustrated by exami a few figures of sales volume. In ber bonds traded on the New k Stock Exchange totaled $353,863, compared with $351,600,000 in Ocf 1029, Sales of bonds on the New York Curb Exchange for October this aggregated $91,637,000, compared wi $57,288,000 in October, 1929. On h exchanges October’s bond trading .was heavier than that of any month si 1927, and on the Stock Exchange Oéto- ber’s business has been exceeded only 18 times in the entire history of the ex- change, including the months du and just after the war, when the huge Liberty loans were so actively traded. Now, during this period of heavy trading, the average level of the bond market, as shown by Standard Statis- tics' index of 60 bonds, declined &om Se{nembtra high of 92.4 to 80. ily les on the Stock Exchange were run- ning from $12,000,000 to $15,000, compared to $7,000,000 or $8,0 daily in August and early September. Trading increased in volume when,the market staged its late October recovery, :am me mdex of 60 bonds climbed com to 8 As the market approached its eak on the recovery, however, sales in fell off. From the October peak of §99,- 295,500 during the week ending October 3, the totals by weeks were: October.10, $98,123,950; October 17, $77, 171‘,00(1 and October 24, $71,780,400. Abmnnhll time the bond market established its . Then volume tapered surprising manner. In the weel October 31 sales totaled only $65,£38,- 100. The following week they slumiped to $57,373,300 and during the week of November 14 rose to $64,901,500, the third week of November ped to $50,803,000.- This week sales are down to the $8,000,000 to 000,000 figure common in Auj which, WILh its total of $188,600{000, was the quietest month for bond crnhn October Low Broken. ° ‘The market has now broken its Octo- ber low and is below its 1921 m. Some railroad bonds are at est prices in their history. Others are sel Inl 2t prices comparabie with the sions of the 80s and 90s and the p.nlc of 1907. But bond trading has dmyped such unimportant dimensions that m: significance can be attached ta g$ych prices. Northerr. Pacific 6s—a well.se- cured issue of a railroad which no large maturity to meet 1or mn | to come—dropped 4 poin of 23 bonds out of the 3107000000 standing. Rock Island General 4s. 17 points on the sale of 10 ' dl out of $61,600,000 outstanding. sylvania Railroad Consolidated 1‘/;-. slumped 2!2 points on the sale l bonds out of an issue of $49,000. Thus on the sale of $48,000 bonds, railroad mortgages of tioned integrity have been down $6,620,000. It seems needless mnvestors_should be forced to sa i their holdings at such levels for ;'.hl lack of even moral support sponsors of the bonds involved. End of Selling Seen. 8 Without going into the economic:sit- uation at home or abroad, it wmn to observers that the selling of is now coming gradually to d. The decreased volume of tndlnl week indicates that the normal rel vestment demand that is the haek&ne of the open market for bmd.l is rnot being satisfied and must, soonef or later, provide support for the market. __ (Copyrisht, 1931 GRAIN TRADE LOOKS FOR SIGN OF BUYING Market Observers Believe Sn@u Heavy Purchases Woulds l'-lflt ‘Wheat Sharply Higher. }’ nls BY JOHN P. BOUGHAN, Assoclated Press Market Editor. CHICAGO, November 28.—Gfain trade observers are eagerly scanning.the horizon just now for signs of a possible new heavy wheat buying movemgnt. Some authorities say such a move it would sweep prices both here and abroad up in a dramatic manner flahz op scare in the American southwest, where the crop is off to a below normal sirt, It is also asserted that owing to pro- nounced lack of sub-soil moisture gver a large area of the Canadian northwest, no likelihood exists for a bumper wheat yield in that section to offset the de- crease which appears certain to be wit- gassed in the Winter crop of the Unfled Meanwhile, dominated largely by failure of geneml business to improve as rapidly as expected, wheat prices this 4| morning had lost the greater part of their recent 24 cents a bushel advance, and were 415a6!> cents down as cém- pared with a_week ago. smmuluneawy, corn was 37%a4% off, olu 11,a2%, decline, and ',o l me ofs 10 from 12 cents setba cents. It is being pointed out that extmr- dinary efforts in Europe to curtail wheat imports may result in practical exhaustion of trans-Atlantic supplies before the end of the Winter. Further- more, the factors which were responsible for the 24-cent advance of wheat from the low prices of October 5 are still existent, though recently overshadowed. Leading Chicago specialists say that the remrhble advance from October 5 was based primarily on prospects that: by next Summer the world’s wheat supply and demand situation would hpve changed from one of oversupply to least a better balanced ratio. Huge Statue Ready Soon. | The huge statue of Giuseppe Gari- baldi, famous Italian patriot, beihg erected in Rome, Italy, is nearing com- pletion and soon will be ready for: its dedication. The head of the statue alone is as large as an ordinary ' and the rest of the figure is being carved in the same heroic proportiéns. Hlnu{_lctuter Kills Himself." NEW YORK, November 28 (#]— Robert Gravee, 60 years old, retl wall paper manufacturer, killed self with a revolver yesterday in living room of his apartment at 67 PaFx avenue,