Evening Star Newspaper, February 6, 1932, Page 15

CURB SHARES SLIP 10 LOWER LEVELS Public Utilities Are Again Targets for Selling in Small Market. [ BY JOHN A. CRONE. Bpecial Dispatch to The Star. NEW YORK, February 6.-—Resum- ing the trend dominant at the close of Friday's session, the Curb Exchange moved lower again today. Trading was quiet during the first hour, after which dealings turned somewhat more active on the downside, Public Utilities led the descent, with such leaders as Electric Bond & Share, Middle West Utilities, Niagara Hudson Power, Commonwealth Edison, Insull Utility Investments and American Gas & Electric pointing the way. General Gas & Electric B shares did not re- spond at once to the fact that directors took no action on dividend payments Under a barrage of dividend re- visions or omissions and unfavorable earnings or sales reports, many stocks stood firm during the first hour. Much of this news long ago had been dis- counted. Offerings were lacking in most stocks concerned in corporate news today. Omission of the Ford Motor of Bel- gium dividend came somewhat 8s a surprise in view of report of increased sales by that concern last year. How- the company said that the 121; idend disbursed last year ived from 1930 income. Net 1931 were 32,000,000 francs 42,000,000 in 1930. E ss of Cord Corporation, which dipped to a new low level for the bear resulted from the selling of burn Automobile on reports of Jan- uary Wayne County (Detroit) registra- ires. Doubtless some of the re- ng of both issues, as well as ago securities, partially ation of several estates in that vicinity CLEARING HOUSE FIGURES. Washington Clearing House figures for today: $3,808,984.81 BONDS ON THE CURB Gas 65 43 Pow 55 '50 55 '56 ent Pul nt St Elec 5 ‘ent St P&L 5'28 Dis El 4'25 7 13 cv 55 '34 cv THE EVENING NEW YORK CURB EXCHANGE Recelved by Private Wire Direct to The Star Office. Prev. 1931.— High. Low. Stock and Dividend Rate. 224 48 Aluminum Coof Am 200084 109% 56% AluCoof Am pf (§). 9% Alum Goods (1.20). % Am Com Pow A % Am Com Pow B.. 1 Am British & Cont. 2% Am Cyanamid B Am Invest Inc (B).. 1 Am Laundry Mch(2) 758 Am Lt & Trac (2%4).. Am St Pub Serv A Am Buperpower Armstrong Cork. ... A3s0G&EI (A) b§% A520 G & El ct (8) | Atl Coast Fish | Au 1Corp..... Bliss Co(EW) (b8%) Blue Ridge Corp Blue Ridge cv pf(a3) Brazil Trac Lt&P(1) Bur Cor Ltd ts (2¢). Butler Bros. ..... Cent Pub Svo A bi%. tral States Elec. . Ch’brough Mf (113) Cities Service (x30c) Cities Serv pf (6)... CitSvP&Lpf (6).. Clev El Illum (1.60). Colon Ol 5 Colum G&E cv pf(5) . 708 8 Commuwith Edison (8 250810 Cmwith & Sou war.. Com Water Service. Consol Copper Contl G&E pr p: Cont Shares cv pf. Con Gas Balto (3.60) Cooper Bessemer. ... Cord Corp . Corroon & Reynolds. Cresson Consol. ... De Forest Radio roit Alrcraft Durant Motors Eagle Picher Lead . Elec Bond&Sh (b6 % ) Elec B & Sh cu pf 5. . Elec Sharhldg pf(a6) Europ E1 Ltd A (30c) Fajardo Sugar Ford ML1td(p36 3-5¢) Gen Aviation....... Gen Theat Eqcv pf.. Glen Alden Coal (4). Globe U'wtrs (p 40¢) Golden Center Goldman Sach: Gold Seal Elec new.. Goth Knitback Mch. Graymur Corp (1).. GUA&P Teanvi6h 4 Groc Strs Prod vic.. Gulf Oil of Penna. .. Hackmester Lind. Hecla Mining (40¢c). Hollinger Gold t70c. Humble 011 (2) . Hydro E! Hygrade Food Prod. Indian Ter I1lu Ofl A Insull Inv (b6%) . .. Insull Utd] 2d pt (6). 5 Insur Coof N A (2) Int Petroleum (1) Internatl Utility (A) Int Utilities B.... .. 4 Italian Super deb rts Kolster-Br (Am Sh). Lake Shor Mines (2) Lehigh Coal & Nv(1) Lone Star Gas n 88c. Magdalena Synd. ... Mavis Bottling (A). Mercantile Strs (1). Mer Ch & S pf A Mid Sta Pet vtc B. Stocks sold In 100-share lots except those desinated by letter alos— Add 00. Open. High. Low. Close. ~Prey. 1931.—~ High. Low. 26% 4 11 261 4TH 62 10% 47 62 10% 484% 62 10% 8 Parker Pitts & 8 0 0 9% 109% 106% 107% | Quaker s Triplex Union Tobacco Unit Founders Unit Gas Corp Unit Gas pf (1 : Unit Verde Exten (1) Unit Lt Urit L & Pwr pf(6).. Util Po Utllity & Ind pf(1%) Van Camp FPkg. Van Camp PKg pf... Vick Financial (30¢) ‘alker. tson (J W) C Western Air 5 Ygstn S&Tu pf(5%). 30s 101% 85 Dividend 1 payment. rates in dividend stock. stock 1 Pius jPlus 2% in n Stock and Dividend Rate. Mid West Ut (b3%). Mo-Kan Pipe Line. .. 48 Nat Fuel Gas (1). tDPropfA(T)... Nat EI Pow A (1.80)( Nat Inv Nat Investors wi Nat Pub Sv A (160). Nat PScvpf wwdth, Nat Rubber Mach. .. Nat Sh T Sec A 60c. Nat Transit (1)..... New Eng Pow pf (6) N Y Shipbulflding Cp. N Y Steam Cp (2.60). N Y Tel pf (6%).... Niag-Hud Pow (40c) Niag Share(Md) 20c. Nipissing. . Nor St Pow A Nor St Pow pf (). Ohlo Brass (B) (2) Ohto Copper Okla Gas & El p Outboard Motor B Parke Davis (11.6 Pennroad Corp (40¢) Philip Morris Ine. .. Phoentx Secur Corp. Pilot Rad Tube A. Pion G M Lt pitts Plate Glass (1) Polymet Mf&g Pub Sve,NIllnp(8). Pub Util Hold xw. Pure O1l pf (6 Pyrene Mfg. Quincy Mining.... Relfance Int A Rellance Manag Reybarn Co.... Roosevelt Fleld Inc. Safety Car Heat & L. St Anthony Gold.... Salt Creek Prod (1).. Sec Allied Corp (1).. lected Industries. . Ind al ctfs(5%) Shattuck Den Min. Singer Mfg (8).. Smith-Corona vte South Penn Ofl (1).. 0Cal EApf B (13%). (1) Stand Ofl of Ky 1.60 Stand Silver & Lead. rrett Corp. . tarrett Corp pf. un Invest pf (3)... ft&Co (2)...... Swift Internat’l (+4) Technicolor Inc..... Tech Hughes (60c). Tcbacco & All Stks. . *Ex dividend ayable in cash or stock 5% in stock us 8% in stock D. C., SATURDAY, FEBRUARY 6, 193 SHIPMENTS OF VEGETABLES 10 PER CENT BELOW 1931 MARK Bales— Add 00 31 . Open. estors. 508 4 A . 1008 1508 ) 508 1 Rust Prf (3). (12¢ Lake Erfe(5 Oats (17).. » O L L = L T E T N CTCIOTOIo: PO DIOTOINIIRS - P8~ PP UL P OPSS - JUIS - U o) a 3 o @ Safety Glass & Pw A (1).. & Lt (b10%) H (25¢) » 2 4T T based on last quarterly of semi tPartly extra. iPlus 4% in stook. bPayable in stock. e Adjustment & Plus 6% in stock. hPlus 1% in k Plus 10% in stock. m Plus 3% in D Pald last year—no regular rate. dolla stock. Everybody’s Business Do D e A e jcans in Gold Held Im- possible, of Theoretical Possibilities. Regardless BY DR. MAX WINKLER. NEW YORK, February 6 (N.AN.A). —At the beginning of 1932 America’s stake abroad amounted to close to $18,000,000,000. referred to as commercial investments. They include securities of foreign gov- ernments and political subdivisions, as well as securities of foreign corpora- tions sold to and held by the American public. They are estimated at $9.500,- 000,000, and occasionally are called portfolio investments. l The above amount also includes so- called direct ipvestments abroad; that is, American funds placed in foreign enterprises which did not involve the sale of securities in the American mar ket. At the beginning of the curren for $8,500,000,000. | folio investments of $9,500.000,000 is scheduled to be paid in gold of the | weight and fineness existing at the time | the securities were sold. This is obvi- ously impossible, regardless of theo- retical possibilities. The stock of gold which is at the disposal of America's debtors is very substantially below the sum which the United States hopes to collect While America has often been re- ferred to as the land of unlimited pos- sibilities, 1t is nevertheless difficult to see how she will manage to enforce the unenforceable. How can one expect to | receive what does not exist? Perhaps | Washington experts could enlighten the countless holders of these bonds. To be sure, many will prefer to criticize American bankers for having | underwritten, and American investors, | institutions as well as individuals, for| having purchased foreign bonds. Re- | D dless o the soundness of such criti- | tism, the fact remains that the United | States has thus far at stake in foreign | Jands the impressive sum of $29,000,- 000,000, equivalent to almost $1,000 per Worst years in the economic history of many nations, not excluding the United regated $425,202,000, bringing total ;‘gge.‘tgments at the beginning of 1932 up to $17,953,456,000, as compared with $17,528,254,000 in 1931 and $2,625,000,- 000 in 1913. If it is borne in mind that prior to | the war the United States was a debtor nation to the extent of about $5,000, 000,000, the transformation into one of {the world’s leading creditor powers must be regarded s nothing short of miraculous. America has accomplished within less than a decade and & half almost as much as Great Britain has | within a century. However, in the course of her desire | to achieve this goal the United States, | or ratner those charged with guiding | the economic destinies of her people, 2 | have paid no attention to fundamen- | tals. The cardinal grinciples of sound finance were ignored. America's chief aim was to create a mew high record, %% | cost what might. She is beginning to 1 Wiscon P&AL 5x E FOREIGN BONDS, 2Buen_Air Pr 705 ‘47 38 8 Cen Bk Ger 6s A '52 10 Cen Bk Co s B '51 2 Chile Mtg Bk 6s '31 14 10 Com_ Pr_BK bls ! 3114 1 Danzig_Port 628 52 0 4Finld R M Bk 63 3 8 Ger Cons Mun 85 2 Ger Cons Mun 7s '47 7 Nippon EI P 6as * 1 Baar Basin Con 7s '3 18antiagg Chile Ts ' 2 8axon Pub Wk-55 1 Stinnes 7s '36 xw ww—With warrants xw—_Without warrants D—New wi—When issued. Constant rain recently caused famous Loch Lomond, Scotland, to rise two feet 13 two days. | pay for her early negligence. Nations | | which have been accommodated in the | American market, regardless of the uses | | to which borrowed moneys were put, | are finding it impossible to meet their | engagements. Many have already sus- | pended payments. Others will follow. | ""At the present time foreign loans | held by American investors which are in default, wholly or in part, aggregate | about $1,500,000,000. Assuming & re- | | turn of only 6 per cent—many of the Ircreign bonds sold in the American market bear interest at the rate of 7| and 8 per cent per annum—the return on the above amount is $90,000,000, a sum_which the American public. is | hardly in a position to lose at this time. Unless something is cone speedily This sum is generally | year such direct investments accounted | "The major portion of America's port- | States, American investments abroad | 'MARKET OBSERVERé EXPECTIMG TEST OF JANUARY LOW MARK BY JOHN L. COOLEY, Associated Press Financial Writer. ‘ NEW YORK, February 6.—Stocks lapsed into a comatose state this week, | leaving Wall Street perplexed as to | just what they meant to do. On Monday the market picked out a group of “war brides” but by Wednes- day it had jilted them. On Thursday, trading shriveled to the smallest vol- ume since September 1. On Friday, the market fretted itself into a declifte. Bonds also were uninspired, although some definite moves developed in for- eign issues, notably Japanese and Aus- tralians, which had special situations to_contend with If the markets are dustry for guidance their hopes for constructive leadership are subject to postponement since less than seasonal improvement prevails in most barome- tric business Market Test Is Seen. If they are expecting help from such projects as the Reconstruction ¥inance Corporation and the prospective nation- ide drive against hoarding their pro- spects depend largely, it is pointed out, on the degree to which confidence is strengthened by organized efforts to build courage out of fear. Many brokers believe stocks now face a test of the early January lows. The market has been close to these mini- mums several times, but so far has re- fused to violate them, and opinion dif- fers as to whether it can again do so. In some quarters it is felt selling may be concentrated against individual is- looking to in- sues, several of which are showing con- | sistent heaviness. Chart followers have been rather un- about adjusting the present economic difficulties, defaults are bound to in- crease in number. If Germany should be obliged to resort to the method adopted by many Latin American na- tions and so far by one European coun- try, the United States would find her- | self holding defaulting foreign bonds to the amount of close to $4,500,000,000, on which the annual loss would amount | to about $300,000.000, or materially more_than is scheduled to be paid to the United States on account of politi- cal debts due her. Shipbuilding Report. By the Associated Press On January 1, 1932, American ship- | yards were building or had under con- | tract to build for private shipowners 89 | vessels aggregating 249,026 gross tons. | The Commerce Department, which made the announcement, said that on the same date a month previous 92 vessels ag- | gregating 278,680 gross tons were under contract. | Steel vessels of steam and motor pro- pulsion accounted for 199,739 of the gross tonnage at the start of the year. | S | Wor(ii“Depression’ |Is Banned by Head |Of Chemical Firm Special Dispatch to The Star. NEW YORK, February 6.—De- claring that use of the word “de- pression” will only prolong present conditions, Horace Bowker, presi- dent of the American Agricultural Chemical Co., has written the 500 key men in his organization, asking them not to mention the word for six months. He also asked them to exact pledges to that effect from their employes. “We must throw off this mental attitude of looking for the worst,” Mr. Bowker writes. “Discourage~ ment is mentally devitalizing and renders us less able to analyze the real physical defects of our business and to determine and apply the nec- essary correctives.” e By insisting upon | | the latter America may receive neither. American family comprising four people. | | Even in 1931, admittedly one of the | | favorably impressed by the action of the rails, for that group emerged from its last trading range on the down side It is notable, nevertheless, that in the last two months the market has fluc- tuated in a 10-point average range The anti-hoarding campaign will at- tract close attention in Wall Street, which oelieves that the problems pre- sented by this practice are offering seri- | ous obstacles to stability. A few weeks ago bankers thought the situation was clearing, but since the holidays thcre has been evidence to the contrary. Federal reserve note circulation, which reflects the requirements of member |banks throughout the country, has risen about $51,000,000 so far this year contrasting with decreases of $186,- 796.000 and $226,242,000, respectively, |in_the same periods of 1931 and 1930 Since this additional sum could hard- ly have been required by business in view of the admittedly lower levels at which commerce is operating as com- pared with one and two years ago, the assumption is that hoarding has been largely responsible for the increase. Deflation Continues. Credit deflation is still under way, although at a less strenuous pace, and bankers link its persistence to hoarding, |in that banks find liquidity desirable while depositors are exhibiting symp- toms of nervousness. War debts and reparations have been forced into the background by the Far Eastern flareup, but none the less re- main as a source of irritation and un- settlement. Some commentators were quick to discuss Secretary Mellon's ap- pointment to the British Ambassador- ship in the light of its eventual bear- ing on debt matters. INCOME TAX DECLINE OF 30 PER CENT SEEN March 15 Returns Are Expected to Show Sizable Decrease From Those of Year Ago. UTILITY RATE CUT DEMANDS INCREASE Various States Take Action Upon Requests for De- crease in Charges. BY GEORGE E. DOYING. The demand for reduction in public utility rates in company with falling commodity prices has been refused by the Alabama Public Service Commis- sion, which declared in dismissing a complaint against utllity rates in Birmingham that “public utilities can- not be subjected to the sharp price fluctuations which are incident to private business.” The Indiana Public Service Commis- sion recently took another view of the matter and issued an interlocutory order to the Indiana General Service Co. for & 20 per cent reduction in electric rates in the City of Marion. The commission stated that it took judiclal notice of the economic depres- sion and the “startling decline” in the prices of material and labor entering into the construction of electric plants. The Indiana Utility, however, prompt- 1y appealed to the Federal Court, alleg- ing the new rates were confiscatory, and & temporary injunction was issued. ‘The commission has retaliated by order- ing an investigation of the rates in 20 other municipalities served by the Utility. The Oklahoma Corporation Commis- sion several months ago tried to reduce rates through an arbitrary order, an- nouncing that it Wwould later conduct an investigation to determine what the proper rates should be. Injunctions were secured in this case, too, but the situation subsequently was adjusted when ouster suits were brought against the leading utilities on the ground that they had violated the State’'s anti-trust laws. “In the case of regulated utilities” sald the Alabama Commission, “the regulation of rates and control of re- turn is exercised to the end that rates at all times be maintained at a reason- able level “Were the utilities unregulated, as is true of private enterprises, if they were free during prosperous times to fix rates without regulatory control, then they could with justice, perhaps, be sub- Jected to the price fluctuations suffered by private business during economic depressions. 1f, however, they have not been permitted to earn more than a fair return during prosperous times, this fact must be given due considera- tion when we deal with their rates and their rate of return during periods of general business depression.” (Copyright, 1932.) Trade Trends By the Associated Press. Engineering Contracts —Valuation of heavy engineering contracts awarded in the United States this week totals $24.- 341,000, according to the Engineering News-Record. This compares with $22,- 573,000 for the preceding week and $57,866.000 for the week ended Febru- ary's, 1931 Newsprint.—Curtailment efforts of manufacturers are reflected in the pro- duction figures for last year. output in the United States as reported by " the Department of Commerce amounted to 1,157,497 tons, compared with 1,282,372 tons in 1930. Canadian production was 2220775 tons, con- trasted with 2,504,147 tons. Stocks on hand in the United States on Decem- ber 31 totaled 32,709 tons. against 32,- 061 tons at the end of 1930. Canadian stocks were 54,214 tons, compared with 36,777 tons at the end of 1930, Sugar—Renewed weakness in raw sugar prices reflects the continued ac- cumulation of surplus stocks in the hands of Cuba and Java, says the Standard Statistics Co. Prices promise to remain at generally unsatisfactory levels over the next few months. Any agreement between Cuba and Java on output restriction might provide the bxasxs for a gradual recovery in quota- tions. Scrap Steel —Increased activity s re- ported in the principal markets, though it has not been accompanied by any gain in prices. Reports from Pittsburgh say little surplus material is available in that market, with dealers paying at least $10 a ton to cover commitments. The movement of scrap in the Chicago market is said to be the best in some ime. Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., February 6— ‘White potatoes, per 100 pounds, 75a 1.10; sweet potatoes, bushel, 40a80; yams, barrel, 75a1.50; beans, bushel, 1.5082.25; beets, per crate, 1.50a1.60; brussels sprouts, per quart, 10a15; cab- bage, hamper, 5081.25; carrots, bushel, 1.00a1.25; cauliflower, crate, 1.50a1.75; eggplant, crate, 1.50a2.75; kale, bushel, 30a50; onions, per 100 pounds, 3.00a 4.00: peppers, crate, 1.50a2.75; spinach, bushel, 50a85; celery. crate, 1.50a3.25; squash, bushel, 1.00a1.75; tomatoes, crate, 1.00a3.00; turnips, hamper, 25a35; apples, bushel, 40a1.75; grapefruit, box, 1.25a2.75; oranges, box, 2.00a4.00; strawberries, quart, 25a30. Dairy Markets. Chickens—Young, 19a21; Leghorns, 17a18; old hens, 14a19; Leghorns, old, 15a16; roosters, 11a13: ducks, 12a20; geese, 11a17; guinea fowls, pair, 30a65; turkeys, 16a30; pigeons, pair, 20a25. Receipts, 1,213 cases; nearb; firsts, 1515; Western firsts, 1515, Butter—Good and fancy creamery, 21a24%; ladles, 15a16; process, 20a21; NEW YORK, February 6 (Special).— | The public will have some unpleasant reading material presented to it shortly after March 15, when the returns of in- | come taxes are made known, authorities on Government finance in Wall Street predicted today. They were unwilling to forecast the size of the decline, though less informed, but more talka- tive stock speculators estimated th the drop might well be 30 per ce:g store packed, 10a11. COPPER PRICES DROP T0 RECORD LOW MARK NEW YORK, February 6.—Copper prices weakened again yesterday when the official quotation for the metal on the domestic market was dropped to 6% cents a pound, one-quarter of a cent below the previous price. This under the returns of a year ago. On one point three income tax ex- perts agreed—namely, this present batch of income returns are the easiest they have ever made out. One of the present minor officials of the Revenue Bureau here said that his clients had shown a decided decrease, indicating a lack of perplexity in thei* tax prob- lems. A former Internal Revenue Bu- reau official said that virtually every income tax return he had been asked to fill out showed such large losses taken on securities purchased before the 1929 crash that his clients would have to pay virtually no taxes. An income tax accounting expert, after noting the large sales of securities to establish tax losses, said that in his opinion the most interesting feature of his clients’ finances this year was the type of securities they retained. Invariably the so-called ' ‘Zepression- pr]u;l’" stocks were held and the others sol Just at present speculative advisors are urging the purchase of most low- priced shares on the theory that the advance from the low levels, when the rise arrives, will show & better gain in terms of percentage than the prob- able appreciation of the so-called de- pression-proof stocks, most of which remain relatively high. (Copyright, 1932.) equals the record low established in December. At the same time it was reported that some unofficial sales of copper had been made at a flat price of 6 cents a pound. The condition of the copper industry is shown by the fact that refineries, at the end of 1931, reported approximate- ly 905,000,000 pounds of refined copper in stock, or & 47 per cent increase over the reserve of 615,000,000 pounds at the end aé 193?. 5 ) Copper Exporters, Inc., the co-oper- nt.lngm;nnlmuon of the producers, re- cently reduced the price of copper for foreign shipments to 6% cents a pound in order to permit some of the surplus stocks to be sold abroad. Exports sales, however, have been at a minimum for the past few days. — FEDERAL RESERVE RATIO, By the Associated Press. The ratlo of total reserves of the 12 central bariks to deposit and Fed- eral Reserve note liabilities combined showed a slight decrease 'during the week ended February 3. The ratio for comparable weeks follows, as an- nounced by the board: ‘Week ended February 3, 67.1 per cent. Previous week, 67.4 per cent. Same week last year, 82.9 per cent. Total | Market Has Dull and Draggy Trend Witl’x Downward Tenclency. Due to Lack of Demand. The produce markets are drifting along in early February without any general trend of prices, says the United States Department of Agriculture, Bu- reau_of Agricultural Economics, Mar- ket News Service. Supplies are not large, even for the quiet season of late Winter. Shipments of leading frults and vegetables are scarcely 2,000 car- loads daily from all sources and the season’s total is fully 10 per cent be- low that of a year ago. Lack of active demand gives the market a dull, draggy appearance and a tendency to small downward changes in the price level, but a few price recoveries take place here and there. Potatoes are nearly steady in large Eastern; markets, but they have been doing a little better in Midwestern pro- ducing sections, while Eastern country shipping points report dull, weak tone. Cabbage markets have made little re- covery since the January slump. Carrot | prices are stronger in producing sec- tions. Onlons have been holding recent advances fairly well. ~Apply markets continue irregular as for many weeks past. Onions in Firm Position. The onlon market presents interest- | ing possibilities because of the light supply on hand. Holdings are less than half those of a year ago and much lighter than in some recent years when prices went higher than they are now. | Accordingly, the holders are hopeful of a strong ending of the market season The main drawback seems to be the general market dullness and the low prices for food products. ~Such condi- tions make it hard to sell vegetables 8t prices justified by light supply. —An- other handicap of the onion position is | the poor quality of some holdings. Ap- parently the best stock has been held for the last end of the markei season and the inferior onions have been rao- idly getting out of the way in recent| weeks. So far, there has been little competition from foreign onions, but any sharp advance in price might bring imports in considerable quantity, de- spite the tarlff of $2.50 per 100 pounds. Trading was quiet in the onion| markets during the first week of Feb-| ruary. Shipments for the entire coun- try were often no more than 50 carlots | daly, and quantity on track in 12 lead- ‘ ing markets sometimes fell as low as 80 carloads. New York, Michigan and | Indiana continued fairly active and | there were occasional carloads from the | Connecticut Valley. The market posi- tion appears more favorable now that | track holdings have been reduced be- cause of recent light shipments. In Western New York, the leading Eastern | shipping section at this time, daily output has often been as low as 3 to 7| carloads, but steady price conditions | prevail. Country sellers were trying to | maintain values and some were hold- ing for higher prices. Recent sales were mostly near $2 per 50 pounds in the Rochester district and neatly the same prices prevailed in Western Michigan and in Colorado. The large city markets of the East report light | to moderate supplies and slow to fairly good demand, with a fairly steady range | of prices. There was a slightly upward trend in Boston and Baltimore, also | in Chicago and several Midwestern s. General jobbing range was from $185 to $2.50 per 50 pounds. Red onions reached top prices of $2.75 and | white onions sold as high as $3.75 in a few Midwestern markets. Oregon yellow onicns sold as high as $2.75 in St. Louls. Potato Markets Rather Firm. The February potato market so far has shown little response to light recent shipments and the moderate supplies on hand in the large cities. The slo ness of demand is the weak feature. apart from the poor condition of some stock. The main sign of improvement was in the firmness reported in West- ern New York and in Wisconsin pro- dueing sections. Ruling _price ~for | standard stock in carlots, at Chicago, has been near 80 cents per 100 pounds for some time. Eastern markets report | moderate receipts and slow to moderate demand. Slight weakness appeared in Philadeiphia, but the New York market was firm. General jobbing range of | Maine stock was still 85 cents to $1.10, but Washington reached top of $135| and various Southern markets quoted $1.50. New York round whites sold at 90 cents to $1 in Baltimore and Pitts- burgh. Recent tendencies in Western New York have been in the direction of & slightly better market, although there was a pronounced rise in prices. | A Jarger volume of business was carried on and most of the sales were made olose to 70 cents per 100 pounds. | Dealers are paying farmers mostly 25 cents a bushel, in bulk, but at certain Stations the price is 30 cents for No. 1 stock, Shipments from Western New | York have been larger than last sea- | son, but from Long Island the rail| Shipments are only about one-haif those of the previous crop year. Wis- | consin country markets are firm. Dull, fairly steady conditions prevail at Far | Western shipping points. | Cabbage Market Quiet. | Not much trade is reported in old | cabbage either in the large markets or | in producing sections. Supplies of good | market quality are becoming light.| Western New York is still shipping 20 | to 40 carloads & day, and there are occasional receipts of old cabbage from | other sources. Supplies are reported | light at several Eastern cities and de- | mand generally low. The same mar-| Kets report moderate to heavy receipts | of Southern cabbage. Southern ship-| pers have been trying, with some suc- | Cess, to keep shipments down and prices at Texas points are considerably above recent low levels. There was no general change in city prices of old | cabbage, which sold in_job lots in six | of the large cities at $17 to $22 per ton“ in bulk. Most of the remaining old | cabbage is in Western New York, where loadings have now become cOmpara-| tively light. Totals for the season so far are a little larger than for the| corresponding time & year ago. Loss from shrinkage and other causes is greater this season, but production Was | larger than in the preceding year. The market at Eastern remained dull in early February. Sales| of late-keeping varieties in bulk were | mostly within a range of $10 to $12 |} fonal lots of sacked | $12 to $16. Some poorer, small cabbage went &s low as $7. | The carrot market has been strength- ening in Eastern producing sections. Supplies appear rather light and hold- ings are mostly in possession of local dealers, Some sales in the Rochester district went as high as $1.75 per 100 pounds, and washed carrots reached $1.10 per bushel on a few lots, the pre- | vailing range being 90 cents to $1.| Even with shorter supplics commonly | reported from producing territory, the | carlot movement has exceeded that of | ]ast season. Many of the carrots raised last year never went to market on ac- count of the low prices prevailing. There is little change in city prices, New York carrots being quoted at $1 to | $1.25 per bushel for washed stock in :‘e' York, Philadelphia and Washing- on. A few carloads of Virginia spinach are recelved in Northern markets daily, but the greater part of the supply is still from Texas. Virginia spinach is quoted at a nearly steady range of 40 to 60 cents a bushel, and Texas stock sells mostly at 50 to 75 cents. Apple Prices Maintained. Shipments of apples are moderate, like those of other fruits and vegetables, but rather light demand prevents any sustained price advance except in a few varietles which have been scarce through the season. Not much fruit of standard grade is selling sbove $1.25 per ton and occas! cabbage realized shipping points has | g varieties, like McIntosh, which bring as ‘high as $2 per bushel in Eastern markets, for best lots. There was not much of this variety offered in early February selling above $1.50. New York greenings ranged $1 to $1.35 in East- ern markets, but reached $1.40 in Chi- cago. Eastern Baldwins sell at 75 to 90 cents. Staymans range 85 cents to $1.25, with top price in Philadeiphia, although Atlanta quoted as high as| $1.50. Grimes’' are near the end of | their market season, and some lots so0ld as low as $1.50 per barrel in Wash- ington. Eastern Delicious sold at $1 to $1.25 per bushel in Philadelphia, Baltimore and Pittsburgh. Yorks and Black Twigs brought 75 cents to $l per bushel. Prevalence of scaid ac- counts for the extremely low prices of some lots of Winter varieties. New York Cotton Special Dispatch to The Star. NEW YORK, February 6—The cot- ton market gave an exhibition of pro- | nounced strength during today's short | session when prices advanced 7 to 8 points and closed at the top. Increased demand from Europe, ow- | ing to the short Indian crop and de- pleted stocks of all kinds, stimulated the market. Spots were advanced 10 points to 6.75. Cotton range Lo March May July . October " December’ January [ 6 [ 9 1 Markets at a Glance NEW YORK, February 6 (#).—Stocks easy; rails decline. Bonds easy; rails lower. Curb easy; Commonwealth Edl-‘ son at new low. Foreign exchanges irregular; yen firms. Cotton steady; trade and Far East buying. Sugar steady; commission house buying. Coffee firmer; Brazilian support. he Foering Htar Rivca orfl0 Rec ADVERTISENENTS VOLUME OF TRADE DECLARED LARGER More Optimistic Sentiment Is Also Noted by Weekly Reviews. i By the Associated Press NEW YORK, February 6—A slight improvement in the volume of trade and a generally more optimistic sentiment in business and trade quarters are re- ported as among the developments of the past week, by the Dun's and Brad- | street’s weekly mercantile reviews. | Dun’s says: “Business during the past week has maintained an even balance as compared with the sales for Januazy Retail trade, especially in the largrr centers, 1 more active than ordinariyv at this period of the year, and renewed buying in many lines now seems to be assured. “Some of the unfavorable phases which have existed for some time slow- ly are being overcome, and the outlos reveals an increase of reassuring fea- tures. “Some of the best reports are ema- nating from New England States and Southwest. “The slight pick up in manufacturing during January subsided toward the close of the month, and the lull was carried through the first week of Feb- ruary.” Bradstreet's says: “Reports from 85 leading cities throughout the country reveal as yet little actual quickening in business beyond the limited seasonal ac- tivity in certain lines. There continues, however, particularly in the large east- | ern cities, a fair amount of optimistlc iment. “Wholesaling and the light industries continue a limited amount of seasonal activity due to Spring orders. These, m general. appear to be smaller than last ye~:, although there are some notable eceptions to this rule. The heavy In- | dustries continue slow and so far have failed to feel much seasonal stimulus:” S Gasoline.—Spot gasoline is said to be showing an easier price tone in the Midwest market as a result of some de- crease in consumption and predictions of lower crude ofl prices. Material be- low 57 octaine is reported somewhat weaker than other grades at 2 to 3 cents a gallon. EIVED HERE in Washington an use Star Classi HERE is no other so m suburbs as through Star Classified Section, seen and read. Copy for The Star Cla: There are no fees for this are charged. 11th and Park rd.—Arm- strong’s Pharmacy. 14th and P sts.— Day's Pharmacy. 1135 14th st.—Marty’s Cigar & Magazine Store. 17th and Que sts.— Ken- ner's Pharmacy. 15th and U sts.—G. O. Brock. 2 14th st.—Colliflower Art & Gift Co. 3401 14th st.—Bronaugh’s Pharmacy. 14th and Buchanan sts.— Hohberger’'s Pharmacy. 14th st. and Colorado ave. —O0’Donnell's Pharmacy. 3209 Mount Pleasant st.— Mount Pleasant Cigar and News Shop. 1823 Columbia rd.— The Billy Shop. 2162 California st.— Co- lodny Brothers. Wardman Park Pharmacy. 215 N. Y. ave—Sanitary Pharmacy. 1st and K sts.—Duncan’s Pharmacy. 7th and K sts—Golden- (time clerk’s sts. — Lincoln Drug Store. 7th st. and R. 1. ave.—J. French Simpson. 11th and M sts.— L. H. Forster’'s Pharmacy. In the Southwest 10th st. and Va. ave.— Herbert’s Pharmacy. 316 413 st.—Harris’ Drug Store. 415 and L sts—Columbia Pharmacy. In the Northeast 208 Mass. ave.— Capitol Towers Pharmacy. 4th and H sts.— Home Drug_Store. 4th and E. Cap. sts.—Paul's Drug Store. 907 H st.—Garren’s Music Store. 12th and Md. ave.—Luck- ett’s Pharmacy. 7th and Md. ave.—Louis F. Bradley. North Capitol and Eye—Ken- ealy’s Phar- macy. 20th and R. 1. ave, — Collins’ Pharmacy, Brookland Pharmacy, 4th and R. 1. ave. G. Chesapeake Junction —Dr. F. L. Wight, jr. per bushel, but there are several To reach practically all the people when you have a want to be supplied. tion of quite everybody in Washington and its You can be sure it will be at any of the following authorized Branch Offices. In the Northwest d nearby suburbs fied Advs. direct a way to the atten- an advertisement in The ssified Section may be left service; only regular rates 9th and U sts—M. H Hunton’s Pharmacy. Ga. ave. and Upshur st.— Petworth Pharmacy. 221 Upshur st.— Monck’s Pharmacy. 5916 Ga. ave.—Brightwood Pharmacy. Ga. ave. and Kennedy st. —Lampkin’s Pharmacy. 2901 Sherman ave.—Sher- man Ave. Pharmacy. 6224 3rd. st.— Stewart’s Pharmacy. 1905 Mass. Pharmacy. 18th and Fla. ave.—Bern- stein's Drug Store. Fla. ave. and 1st st—N. Reiskin. North Capitol st. and R. L ave. — Parker's Phar- macy. 1742 Pa. Krick. 21st and G sts.—Quigley’s Pharmacy. 25th st. and Pa. ave.— Columbia Drug Store. 3315 Conn. ave.—Joll’s Newsstand. 5017 Conn. ave.—Higger's Community Drug Store. Wisconsin ave. and Macomb st.—Harry C. Taft. 4231 Wisconsin ave.—Mor- gan Bros’ Pharmacy. Takoma Park, 359 Cedar st. —Mattingly Bros.’ Phar- macy. ave. — Dupont ave.—J. Louis In Georgetown 30th and P sts.—Morgan Bros." Pharmacy. 3411 M st.—Moskey’s Phar- macy. 1834 Wisconsin ave— Haney’s. Wisconsin ave. and O st.— Donahue’s Pharmacy. 35th and O sts.— Sugar's Drug Store. In the Southeast 3rd and Pa. ave.—O'Don- nell’s Drug Store. 8th and Fye sts. —F. P. Weller's * _Pharmacy. 11th and P ave. — Fealy’s Pharmacy. 1907 Nichols ave., Anacostia —Healy’s Drug Store. 13th and East Capitol sts. — Lincoln Park Pharmacy. 2204 Minnesota ave. — Sloan’s Drug Store: F. S. Boisfeuil- There’s One Near Y.