Evening Star Newspaper, February 13, 1932, Page 15

FINANCIAL, CURB SHARES RISE INHEAVY MARKET Gains of Fractions to Six Points Scored in Strong Market. BY JOHN A. CRONE. @pecial Dispatch to The Star. NEW YORK, February 13.—A brisk ppening on the Curb Exchange today, which was featured by gains ranging from fractions to six points, was main- tained throughout the session. Market leaders like Electric Bond & Bhare, Middle West Utilities, United Light & Power A, and Cities Service moved up fractionally as Nation-wide investment buying orders and short- covering orders were received in in- creasing amounts. Foreign shares, chiefly British and Canadian, featured early dealings. They were replaced by pipe line stocks. which in turn were overshadowed by the movements in motors. While the latter were moving forward the oils started upward and were trailed by the aviation lscues. Then buying became more gen- eral n public utilities and spread to metals, specialties and investment trusts. Approval of American steps taken to end the world-wide depression was mirrored in London Friday and was ri flected in opening quotations there to- day. Advances were scored at the open- ing here in such overseas issues &s Brazilian Traction, Woolworth, Ltd., and Ford Motor, Ltd. The Ford stock was aided by the announcement of the new Ford models and the recall of workers to plants making parts for Ford. These developments more than offset the omission of Ford Motor of Ger- many's dividend. Crude oil pipe line deliveries by 10 companies formerly in the Standard Oil group totaled 9.894.236 barrels in January, against 10.656.207 in Decem- ber, but these statistics were set against some favorable earning reports of indi- vidual oil carriers. National Transit opened up fractionally in response to its 1931 income statement showing earn- Ings of $1.16 a share, against $1.20 in 1830, which was better than anticipated. Eureka Pipe Line reported $4.23 a share, against 34 cents in 1930. Net profit of Southwest Pennsylvania Pipe in 1931 was $155.408. against $113.684 in 1930. On the heels of the move in pipe lines came an advance in the oils which lifted Gulf Oil up 2 points. Cord Corporation moved up more than a half point in sympathy with rise of Auburn Auto. Meanwhile rd Motor of Canada A and B shares rose about a half point and Durart Motors showed signs of activity. Aviation issues such as E. W. Bliss, Genersl Aviation and Transcontinental Air Transport were up slightly. Metals moved forward with Aluminum Co. of America in the lead. Active silver dealings lifted Bunker Hill-Sullivan a shade. Coppers displayed increased de- mand at higher quotations, despite the fact that the red metal was not on the proposed British free list. BONDS ON THE CURB MARKET. BONDS. High Low. Close. 6% T8 760 9 £ G & E 4'2¢ 120 Asso GAE 4'2 31 Asso Gas & El 3s '50 50 Asso Gas & El 55 '68 3 3 Bell Tel Can 55 B 1Bost & Me 6s m 3 Boston Con G 38 2 Buff Gen El 55 A nt Stat Elec 3s ° 8t Elec 5'25 5Chi Ry 323 Citles Se 16 Cities Serv 10 Cit Serv C 10 Cit 8erv G 2Con Gas Balto 4s ‘81 s A s A 4 Consum Pow 4135 '3 72Cont G & E 55 A 'S 2 Continen Ojl 37as 7 Grane Co 5s 40 . 7 Dix GG 6'25 A 37 Wi 10 East Ut Inv 55 A ‘54 30 12 Edis El Boston 5s "33 100's 40 Elec P & L 55 A 2030 55! 1Empire Dist El 55 52 5128 '42 8 Fisk Rub 5125 31 cod 13 Florida P & L 5s '54. 7 49 Ga'ineau Pow 55 '36. 1Gatineau Pow_6s 2 Gatineau Pw 65 B ‘41 5 &1 81 SR PR ool T 20 Indnp Par 5<A 3} Tnsul vriit s B 40 § Int Py Sec 6.5 '35 C 1 Inter Pw Sec 75 E 57 11Int Pow Sec s P Thtern Sec Am 5% fEeFeig e 1 Koppers G & € 5s 47 7 6 Kopper GA;;C 5! ;M? 5 Lehich P S 6s 3Tong Istand Lt 65 45 SLa P & L 5 °5° $ Manitoba Pw 18 Massachu Gas 5 2 Mass_Gas 3's5 48 10 Mid West Ut 35 '3 13 Mid West Ut 5s 1 Mid West Ut 43310 West UL 2 Miss Pow & 3Nk River 4 Miss River Pw 5s 91 3 Mont L HAP 3¢ A 51 N ett 55 37.. 94 51 78 Ene GAE Ene Pow 38 6 Enz Pw 5ias '54 axyee L 4 67 iag Falls Pow 65 1 No Con Ut 3ias A 48 3 NEW YORK CURB EXCHANGE Received by Private Wire Direct to The Star Office. Stocks sold In 100-share ~Prev. 1931.~ Btock & High. Low. Dividend Rate. Aero Supply B. Allied Mills Inc i Sales— 4 Aluminum Co of Am 16258 54 10% Alum Goods (1.20).., 1 Aluminum Co Ltd. Alu Coof Am pf (6). AmCitPw & Am Com Pow A Am Com Pow B Am Cyanai Am Equiti P 1] SRR amaee Am Gas & Elec (31). Am Hardware (4). Am Invest Inc (B) Am Lt & Trac (2% n = 4 Am Salamandra. .. _ Am Buperpowar. Arkans Nat GasA. .. Assoc Gas & El Ltd 1 66 6 1 30 35 1 22 4 R 1 1 1 2 5 7 Atlas Utll Corp. . Atlas Utilities war Atlas Util pf (3). Bickford's (1.20).... Bliss Co(EW) (b8%) Blue Ridge Corp..... Blue Ridge cv pf(al) Bohack (HC)1stpf 7 50s Brasil Trac Lt&P(1) 64 Brit Celanesercts... 3 Bridgept Mch (25¢). 3 BrillCorpA..... .. 2 Buff N& E P 1st (5). Bunker Hill & Sull. Butler Bros. .... Cable Radlo T vte. Canadian Marcon Carman & Co A (2 Cent Pub Svc A b5%. Central States Elec Childs Co pf. .. 408 Cities Service (g30¢) 150 Citles Serv pt 5 Cleveland Tractor. Colon Ofl. Colum G&! Col O11& Gi Commwit Cmwith & Sou war Comstock Tunnel Consol Copper. Con Gas Balto (3. Contl Chicago Corp Cont Shares cv pf. Cord Corp. ... Corp Sec Ch (b6%).. Cosden OiL o Crocker Wh Cusi Mex Mining Dayton Alr & Eng. Deere & Co...... De Forest Radlo. Dixon (Joseph) (4). Dublilier Cond & Rad Durant Motors. East Sta Pow (B). | East Utll Assoc cv. Efsler Electric. Elec Bond&Sh( Elec B& Shpf (§)... Elec Pow Assoc (1). 1 Elec Pow Assoc A (1) 1 Elec P& Ltop war.. 12 El Shareholdg(b6%) 4 Elec Sharhldg pf(ag) 1 Emp G & F cu pf(7). 1008 Empire Pub Sve (A). 1 Europ EI Ltd A (30c) 1 Europ Elecdebrts.. 1 Ford Motor. Can,, A. 31 Ford Motor, Can., B, 100s Ford MLtd(p36 3-5¢) 21 Foremost Fabrics... 1 Garlock Pke (1.20).. 1 Gen Aviation E 1 GEL! rts(p36 3-5¢) 2 Gen G&E cv pf B(6) 1508 % Gen Theat Eacvpf. 2 Glen Aiden Coal (4). 13 a Gold Seal Elec new.. 5 Goldman Sachs T C.. 52 itA&PTeanvi6l 108 Gt At&Pac Tea nf(7) 108 Gulf Oll of Penna... 3v Hackmester Lind. .. Hecla Mining (40e). Hollinger Gold t70e. Horn (A C) 1stpf... Horn & Hard (2%) Hudson Bay M & S.. Hydro 1 Secirities. Hverade Food Prod Hygrade Sylvania 13 Humble Oil (2) ot Imp O1l of Can (50¢c) Indiana Pipe Line(1) Insull Inv Imsurance Seaurity Int Petroleum (1)... Int Products. . . Internatl Utility (A) Int Utilities B. Int Utilities war. Interstate Equities In’state Equity ev pf. Italian Superpow A . 3 Italian Super deb rts Kleinert Rubber. ... Lakey Foundry..... 2 258 1 2 pL(s). 60s i 1 1008 1 4 3 MRS B S e E e ne e S o excent those designated by letter “s.” Add fl: 0?5 vte. ... 1% dison (8 600810634 “©0 & ~Prev. 1931~ High, 2Ty 10 25 NY S1 Stock and w. Dividend Rate. 9% Lehigh Coal & Nv(1) 9 Lindsay Light (80c). Lone Star Gas n 88c. Long Isld Lt pf (7).. 508 Louisiana Lan & Ex. % Magdalena Synd.... M Utevpf (2 Mavis Bottling (A). Mead Johnson (15).. Meniph N Gas (60¢) .. 4 Mid Sta Pet vtic B Mid West Ut (b8%). Minne-Honey pf (6). % Mo-Kan Pipe Line... Mountain Prod (80c). NatBd &S at Sh T Sec A 160c. Nat Transit (1)..... Neptune Meter A1.20 ‘ew Eng Pow pf (6) ew Jersey Zinc (2). ewmont Mining. ... Shipbuilding Cp. N Y Steam Cp (2.60). New Y Transit (N).. s Niag-Hud Pow (40¢) Niag-Hud Pow A w.. Niag-Hud Pow B w.. Niag Share(Md) 20¢. Northern Pipe Line n N W Engineers (1)-. Onito Copper. - .- - .-~ Outboard Motor B... Pantepec Oll. .. Paramount Motor Parker Rust Prf (3) .10/ Pennroad Corp (40¢) Penn Wat & Pow (3) Philip Morris Inc... Pilot Rad Tube A.... Pitney Bowes (b4%) Pitts Plate Glass (1) Plymouth Ol (p0e)., Producers Koyalty.. Pub Util Hold xw... Raflway & 1 Republic Bales— < Add 00. Open. High: Low. Clos 4 9% 10 (2R 1 8 8 6 84 E A 963 Ll W 20% 5 W 2015 iy 4o “w - T LT - o o YT ROTQUIOR . FEP - PR T 8 08 26 (40¢). Roosevelt Field Inc. St Regis Paper... 1t Creek I'rod (1) aboard Util (28¢) ec Allied Corp (1). Segal L & Hdw Selected Industrie Ind al ctfs(5%4) entry Safety Cont. Shenandoah Corp... Shenandoih Corp pt. Silica Gel ctfs. . Singer Mfg (8). Smith (A. 0.). Sou Calif Egis pf S Edpt B (1%). Ed pf C(1%) Southern Nat Gas So. Union Gas Stand Oil of Ky 1.60. Stand Oil Ohfo (213) 5508 and P& L pf (7).. “and Silver & Lead arrett Corp. ... innes (Hugo) in Investin Swift & Co ( ; Swift Internat’l (14) Swiss Am ELpt (6) . .300; Syracuse W Mach B. Taggart Corp Tampa Eles Technicolor Tech Hughes (60c).. L. c. Texon Ofi&Land (1). Tcbacco & All Stks. Trans Afr Trans. ... Un Gas of Canada(1) Union Oil Asso(1.36) Unit Corp war U S Elec Pow ww 4 US Inter Sec 1st pf.. USPlayving Card 2% Unit Stores v.te..... Ut P&L(B)cfs bl0 % Util Pwr & Lt pf(7). 1008 Utility Equith Util & Ind . Utility & Ind p: Van Camp Pkg Vick Financial (30c) Walgreen Co.... T'a B - 25 1g 53 % Dividend nual peyment. divi st end. e 3 Plus 1 41 Walker. H (25¢). Watson (J W) Co. Wenden Copper Western Md pt. Wil-low Cafeterias WiwthFWLtd29 3-5¢ “Y" Oil & Ga rates in dollars based on last quarterly of semi-an- “Ex dividend. a Pasable in cash or stock {Plus 57 in steck. b mn stock. s | stock. n Plus 87 in stock 'Parily extra. iPlus 4% in stock. bPavable in stock. e Adjustment & Plus 6% in stock. hPlus 1% in k Plus 10% in stock. mPlus 3% in Paid last year—no regular rate, Special Dispatch to The Star. BALTIMORE, Md., February 13.— White potatoes, per 100 pounds, 75a 11.00; sweet potatoes. bushel, 35a80: yams, barrel, 75a1.50; beans, bushel, 1.50a2.50; beets, crate, 1.50a1.60; cab- | bage, hamper, 75a1.40; carrots, bushel, 1.00a1.25; caulifiower, crate, 1.75a1.90; celery, crate, 1.50a3.75: kale, bushel, 25a30; lettuce, crate, 2.50a3.50; onions, 1.25a2.50; oranges, box, strawberries, pint, 20a22! Chickens—Young. 20a22: 17ai8: old hens, 15a20: Leghorns, ole 15a16° Toosters. 11ai3. ducks. 12aZ: geese, 11al7: pigeons, pair, 20a25. Eggs—Receipts, 1,816 cases, {lfit.s, 141421415, Western firsts, 1448 and _fancy creamery, 5, 15816: process, 20a2 2.00a4.00; 3 Southern Gas_6s '35 2 Southw G&E 55 A '57 3 Staley Mf< bs 42, . 9 Super of Tilin 415 ‘68 ISwilt Co 5% 44, 3Tenn Pub Serv 5 3 Texas P & L 55 '56 31Tob PS NJ 6.5 202: 1Ulen & Co 65 ‘44 14 Union_Gulf 55 50 1UMt P & L 12Unit Lt & Ry 1Uni P & L PP zazszsds g i Wiscon P&L 55 F '58 83 FOREIGN BONDS. a 37 i Pr B e 1Guban Tel 7125 A 41 18% 5 Danigh ‘Cons 35 '53.. 43 B Op 6as 65 x w 45 e IR AN e ) am 28 11Isarco Hyd El 75 5: 11tal Sup Pow 6s A '63 37 2 Mendoza_Pr T'as 11 Nippon El P 62 3 Prussia Elec 1Ri ) 51 '53 Leghorns, | Nearby } Trade Reports at a Glance. By the Assoclated Press. NEW YORK, February 13.—Tabloid review of wholesale and retail business conditions as reported to Bradstreet's this we 'k from the follow- ing centers, on the basis of comparisons with conditions in the same areas in the corresponding week last year: ‘Wholesale " and job trade. Pittsburgh . Chicago . Cleveland Detroit . Indianapolis Louisville Duluth .. Kansas City . Minneapolis . St. Louis Milwaukee . Des Moines St. Paul . Baltimore Quiet Retall trade. Manntacturing and industry. Quiet Quiet. Slow Slow Fair Quiet Quiet Quiet Quiet Quiet Fair Fair Quiet Quiet Collections. Slow Fair Slow Fair Siow Slow Slow Slow Slow Slow Slow Siow Slow Slow Quilet Fair Quiet Quiet Quiet Quist Fair Quiet Quiet Quiet Fair Quiet Quiet Quiet Comment. Pittsburgh—Coal prices low: budldin, operating on curtailed basis: {ableware continues upward; volume of wholesale women's apparel below “Chicago—Steel orders from rails slightly larger; cold weather stimu- lates coal sales; lumber shipments increased; conservatism apparent in general trade. Cleveland—Lumber trading below 1931; steel business only slightly active. Detroit—The automobile industry appears fairly optimistic; retail business dragging; wholesalers receiving cautious commitments. Indianapolis—Retail volume small; general industry operating on re- duced schedule; unemployment intense. Louisville—Hardware in moderate demand; millinery quiet; fruits and vegetables plentiful; retailers featuring “sales” to dispose of Winter goods. Duluth—Easter orders at wholesale encouraged; mining industry unimproved; lumber continues curtailed. Kansas City—Manufacturers working on curtailed basis; export busi- ness very poor; volume of dry goods and furnishings under 1931. Minneapolis—Wholesale and retal coal sales fair, but collec: tions very slow: rubber footwear in demand; public purchasing power conslg:rnb]y below former years. Louis—Opening day of automobile show very successful; drugs and chemicals fairly steady; warm weather helps moving of hardware and paints.. Milwaukee—Shoe manufacturing holding fairly well; prices of farm and dairy products very low. Des Moines—Dollar day “sales” successful; no change in unemployment. utos and accessories quiet; h se. 9% {of reserve to notes in circulation very | { reasonably adequate protection which, | further withdrawals for European ac- | their available eligible commercial as- St. Paul—Furniture, clothing, shoes most active lines; groceries and confectionery equal last year; automobile show well attended. Baltimore—General trade preparing for Spring activity; retail trade spasmodic, due to lessened purchasing power; grain market unimproved. Shirt Firm in Bankruptcy. KANSAS CITY, February 13 (#)— The Baltimore Shirt Co. of Kansas City and St. Louis was placed in in- voluntary bankruptcy yesterday by ac- tion of Federal Judge Merrill E. Otis. A petition in involuntary bankruptcy was filed by Hipsh, Inc, and Harry Hipsh and Phillip Hipsh, and H. V. Christensen. William E. Davis, president of the Baltimere Shirt Co., filed an answer expressing a willingness for the con- cern to be declared bankrupt. A suit in equity was filed immediately afterward by the Goshen Shirt Manu- facturing Co. of Chicago, asking a re- ceiver and setting forth & for $22,125. PARIS BOURSE PRICES. PARIS, February 13 (#).—Three per cent rentes, 79 francs. Five per cent loan, 101 francs 45 centimes. Exchange on London, 87 francs 40 centimes. The dollar was quoted at 25 francs 35 centimes. Former Motor Official Found Dead. PHILADELPHIA, February 13 (#).— Charles S. Chalmers, 51, former presi- dent of the Chalmers Motor Co., was found asphyxiated in his bed room by gas.coming from a rubber hose which he had attached to a jet. Mrs. Chalmers said he recently ha ;ugermdn;:mchl rever:A ‘hal ad made two previous attempts, police said, to end his life, d | M rs | J - _SATURDAY, FEBRUARY 13, 103, FRUIT AND VEGETABLE PRICES IVANY FIRMS SHOW NET GAINS IN 153 ,‘;E Recent Annual Reports of 27 Corporations Present In- teresting Results. ‘The companies so far reporting this year which revealed an increase in net income for the full year 1931 (calendar or fiscal), as compared with that of the {full year 1930, include, according to the Standard Statistics Co.: Net income. Company. 1931 Tas0. Auburn_Auto 1,018,331 Brown Shoe . 1,334,042 7,03 Detroit 11,116,667 Devoe & 132,209 East. 19710 765.2 222817 1,541,038 118,635 273,625 Firestone T. & Glidden Co.... .. Holland (A) & Bon, Inc n b Montreal L, Ht. & New Eng. T. & T. Pacific Ll&hlmx . Peo. Gas Lt & Cgl Re¥nolds (R 3 e SCah Paper Co . S5 New Eng. T. & Teck-Hughes i i02:312 Pl 9.756.921 Co, 11,675225 8.020.125 561382 16,079,527 32,810,744 385,467 tDeficit. Business Administrators of Recon- struction Finance Cor poration to Steer Clear of Unsound Economic Polici BY DR. MAX WINKLER. NEW YORK, February 13 (NAN.A) —Reduced to simple, intelligible terms, the proposed Glass-Steagall bill, de- signed to supplement the work of the Reconstruction Finance Corporation in speeding up the economic and financial rehabilitation of the United States, provides in the first place for the use by the Federal Reserve Board of the United States Government obligations | as & basis for currency issues against which there must be a 40 per cent cover. In other words, Government securi- ties will become eligible for the issu- | ance of Federal Reserve notes in ex cess of the present legal cover, thereb: raising the effective total of free gold by about $800,000,000. | It may be pointed out, perhaps, that | in many countries the collateral re-| quirements for currency issues are much more liberal than thev are in the United States and that under ex- isting_conditions, with the use of col-| lateral decidedly limited, it will be next | to impossible to take steps necessary | to_check deflation, While the above provision is of a temporary character only, covering a period of 12 months, it is this provi ion which is likely to be interpreted a inflation, but there is no valid reason | for the United States to adhere stub- | bornly to the maintenance of a ratio substantially in excess of 40 per cent. ! Furthermore, additional currency will not be authorized without providing for in this_case. will consist of United States Government obligations, Difficulties Likely. Difficulties will arise as soon as money will begin to be printed, regard- less of whether or not a cover is pro- | vided for, Such point, if it should be reached, will of course constitute in- flation, pure and simple. The framers of the bill, however, as well as those charged with guiding the financial destinies of the American people, know enough about the evils| which 'arise from attempt to seek sal- vation from economic troubles in the printing presses, to steer clear of un- sound economic’ and financial policies. | The increase in the present amount of free gold—that is, the amount in excess of the required 40 per cent, is| expected to check fears incident upon count. However, no account seems to have been taken of the possible diffi- culties which may arise in connection with foreign investments in the United States. Those who have so far com- mented on the bill have for some, reason seen fit to ignore this not en- tirely irrelevant factor. The second provision relates to the broadening of the basis upon which | member banks can secure accommoda- | tions from the Federal Reserve System. Under existing conditions, banks with fundamentally sound, but not readily salable assets, cannot obtain aid from the system, unless their holdings are eligible for rediscount. As a result, institutions are obliged to struggle for liquidity at any cost. This means that banks must retain only eligible paper and convert all other assets. in order to be able to withstand difficulties arising from the desire of clients and creditors to with- draw their deposits. Amusing Spectacle, In this way. one often encounters the amusing spectacle of finding banks which are liquid to the extent of almost 100 per cent, In other words, banks were obliged to assume the role of pawnshops which must, by the very nature of their business, almost al- Wavs be in a position to pay out 100.| cents on the dollar. The new provision should go & long way forward in putting a stop to bank failures which, more than any one | single factor, have been responsible for | the continued liquidation of securities and commodities. Member banks will | e priviieged to apply for and obtain accommodation for a period of one year only after they have used all of sets and United States securities and are_in immediate need of assistance which they may not otherwise secure to avert failure. The rate of discount of bank assets upon which accommodations will be based is left to the Federal Reserve Board. In no event, however, shall the | rate be less than 1 per cent hlgher' than the prevailing rate of discount at the Federal Reserve Bank of any dis-| trict using. this privilege, Inasmuch as hoarding has been caused, to a very large extent, by the uninterrupted failure of banks in all rts of the country, the stopping of g:nk failures, which is one of the chief features of the program, is confidently expected to result in the return of hid- den money to circulation and to the legitimate channels of commerce and industry, (Copyright. 193 News by the North American er Alliance, Inc.) New York Cottoen Special Dispatch to The Star. NEW YORK, Febm;)xz 13.—Cotton was active and higher f on general buying and covering, including some heavy buying by foreign spinners, on expectations of an early passage in Washington of the new finance and on the strength in the outside ;l?lglln!! . markets. Profit-taking resulted in partial reaction, leaving prices at the close 12 to 16 points net higher. Spots wete up 15 points at 6.85. Cotton range: Open. .High. Low. Close. .81 6T 697 891 307 30 29 supplies. ' SHOW RESISTAN FINANCIAL. , TO DECLINE Most Other Classes of Farm Commodities Reveal Continuation of Recent Sagging Tendency—Shipments Small. Prults and vegetables were making & better showing than most of the other classes of commodities in & generally sagging market the second week of Feb- ruary, says the United States Depart- ment of Agriculture, Bureau of Agri- cultural ‘Economics, market news serv- ice. Price gains were fairly numerous in leading lines of fresh products and there were few imprtant declines. Ship- ments and track holdings are not large enough to exert any great pressure of Onions again led off with small but fairly wda&nw advances. Potato prices were slightly irregular, but gen- erally well maintained. Some cabbage markets recovered part of recent losses. Sweet potatoes have followed & fairly ‘steady course in most centers of trade. Apples showed little further change, but the trend has been slightly downward since the first of the year, at s time when apple prices ought to be g a little with e progress of the storage season. When compared with & year ago, the market on fresh produce seems to have done fairly well during a period of ex- tremely severe declines in the commodity markets. Cabbage and carrots are somewhat higher than they were a year ago and onions are selling at six times the price of February, 1931, Southern lettuce and celery are close to last sea- son’s level. Some Northern fruits and Vegetables, including_apples, potatoes and sweet potatoes, sell much lower this season, although the larger yield partly offsets the weaker price range for these lines. Potato Market Irregular. There was little in the potato market news during the first part of February to move the price trend either way. It is the dull time of year for this product. Holdings are fairly well known in late Winter, Shipments are at limited volume and demand quite stead: Course of values responds mainly to oc- casional interference from weather con- ditions and in some degree to the progress of the early Southern erop. Shipments are lighter than at this| time last year, but tend to increase on any slight upturn in prices. Slow, dull markets prevailed in nearly all produc- ing sections. 1In the Rochester district there was a slightly weaker tone re- ported without much change in price. Growers were being paid 25¢ to 30c bulk per bushel for No. 1 stock and dealers were selling sacked potatoes | around 68c per 100 pounds. Distribution of the shipments continues satisfactory. Most of the carloads are going to poin! | in Pennsylvania, Virginia, or the Caro- | linas. Prices are steady in the Middle West and Far West. | A range of 40c to 70c covers most sales in the potato belt from Maine | west to the Pacific Coast. Seed stock, of course, sells at special prices. De- mand for seed potatoes is light. The February market for Maine potatoes | has been very dull and prices have continued close to the lowest points. Shipments from the State are now | lagging about 6800 carloads behind | those of the corresponding date last | In only one week since the be- | inning of the season have Maine potato shipments exceeded or equaled the movement of the corresponding week last season. | Receipts in Eastern markets are moderate to fairly liberal. A few car- loads from Canada were reported at Boston. Demand is fairly good in New | York and Boston. but slow in other large Eastern cities. New potatoes are not yet arriving in quantities large enough to affect the market much. al- though considerable stock from Cuba, Porto Rico, and Bermuda was offered in | New York, and Florida Bliss Triumphs are selling in that market rather low | at $2 to $2.50 per bushel. Maine Green Mountain potatoes sell | at nearly unchanged prices in leading markets, with a jobbing range of 90 cents to $1.10, although Washington reached top at $1.35 and Atlanta quoted a little stock at $1.50. Fancy Prince Edward Island potatoes brought $1.60 per 90 pounds in Boston. New York and Pennsylvania round white varieties were_quoted at 85 cents to $1.15, and usually a little below the level of Maine | potatoes in the same market. Chicagq | carlot market is steady, with 80 cents per 100 pounds the ruling price and a steady position on sales for March and April delivery. Sweets Irregular. Markets for sweet potatoes appeared ratner unsettled. * A few lines, including Virginia and Tennessee stock, sold a little higher. but some other kinds were slightly lower in a few markets. Vir-| ginia potatoes sold in & few cities at 35 cents to 70 cents per bushel. Dela- ware and Maryland sweets of the Jersey type followed a Jobbing range of 50 cents to 85 cents. and North Carolina Porto Ricans sold slightly below this stock, although best lots brought 85 cents in Washington. Maryland and Delaware white yams were quoted 40| cents to 60 cents in Philadelphia, and | some ungraded stock in barrels at §1.25 | in Baltimore. Supplies of sweet po- | tatoes are fairly liberal in most Eastern markets, but reported limited in Boston. | Demand is slow in nearly all markets, | Carrots Selling Well. Active trading in carrots was a some- what unusual feature of the market the | first two weeks of February. Apparently | a certain amount of speculation was taking place at country shipping points, | causing prices to rise above the level of | jobbing sales in Eastern cities. Mnny‘ lots in Western New York brought $2 per 100 pounds for unwashed sacked stock, while in New York City jobbing | sales were being made at $1.70 to $1.85, | in the three leading Eastern mar- | kets $1.50 was top price obtained for washed carrots, bushel pack. But price || trend was upward in most Eastern mar- | kets. Shipments this season are still ahead of those of last year, when the crop was much larger. After this time last year 950 cars were shipped from New York producing districts. Accord- | ing to local trade information, less than | half this quantity remains to be shipped this season. Onion Market Firm. General trend of the onion market has been slightly upward thus far in February, with a few further gains the | second week of the month. Prices Easf and West at country shipping points do | not vary much from $2 per 50-pound sack in large lotss Quiet conditions pre- vailed in Eastern producing sections. A limited amount of trading was reported in the Rochester district at $1.85 to $2.15 per 50 pounds, and an occasional car of large sizes as high as $2.25. Not many car lots of 100-pound sacks were reported. The output from New York this season is about 500 carloads behind that of last season and 1400 under that of the season before the corre- sponding date. Eastern holdings of onlons and also carrots appear to be largely in possession of dealers. Job- bing prices in Eastern markets follow a steady range at $1.75 to $2.50 per 50 pounds on good yellow stock from East- ern sources. - Supplies are moderate and demand slow. The equivalent of 16 carloads of Chile onions and 8 of Spanish onions appeared on the New York market toward the middle of the month. A few carloads of and Canadian stock were offered in n and Philadelphia. Total shipments all sources are light and track in leading markets are by no means heavy. Cabbage Market Irregular. Prices of cabbage follow irregular trends this month. Gains in Eastern markets are about balanced by slight declines, General jobbing range re- mains $16 to $22 per ton in bulk on New York e of the varieties, pre- | previous offer vall at Eastern country shipping points. The advancing prices in Southern pro- ducing sections, owing to restricted shipments, have helped the Northern cabbage market values. Ordinary qual- ity of much Northern stock is & market ‘handicap. Apples Fuirly Steady. ‘The apple markets have shown an irregular trend for some time, but the tveufe on leading varieties has moved slightly downward rather steadily since the first of the year, although this is the season when apple prices sometimes gain a little with the progress of the cold A mild Winter has lessened the demand to some extent and injured quality of fruit not in storage, forcing the marketing of some lots jn larger volume than expected. Such varieties as the Greening, which are rather scarce, have held prices quite well. They are selling at 90 cents to $1.25 & bushel in Eastern markets. The barrel pack showing scald injury. New York Baldwins range 75 cents to $1 per bushel in Eastern cities. The barrel pack is quoted around $2.50. New York McIntosh m})ped the market at $7 per barrel for a few lots. Eastern Staymans sold at $3 to $3.25 per barrel for large sizes in New York and Philadelphia. Most Grimes failed to bring more than 75 cents per bushel. Eastern Delicious sold at $1 to $1.50 and Yorks at 75 cents to 81, although Atlanta quoted $1.25. Eastern Romes and Winesaps sold near 81, and Black Twigs ranged 75 cents to $1 per bushel the second week of Febru- ary. Some Virginia Yorks and Stay- nans brought $1.50 in Atlanta, Company Buys Stock. NEW YORK, Pebruary 13 (#).—More than 77,000 shares of stock were ac- quired by the Stmm Petroleum Co. from stockholders under the offer to purchase 100,000 shares at $5 a share, it was an- nounced today. The offer expired yes- terday. The compeny has arranged to purchase the necessary shares to make up the deficiency. In response to a to purchase 100,000 shares at $6 a share, the stockholders turned in upward of 85,000 shares. @he Foening Star FAILURES ARE LAID TO CREDIT METHODS Poor Jndgment in !-lflng‘b oounts Declared Important Couse of Business Mortelity, By the Assoctated Press. Poor credit methods were found to be amang the important eauses of fall- ure in & recent study by the Commmerce Department covering business mortali- ties in Newark, N. J., considered & rep- resentative city by the department. Most of the concerns, whether in the retail, wholesale or contracting business, reported large losses on bad debts and considerable trouble in collecting ac- counts, while all conducted a large pro- B:;t"l‘nn of their business on & eredit For the year preceding failures, the average bad debt loss on open credit extended to customers by concerns able to furnish figures was 7.2 per cent. The average loss on instaliment credit was 17.1 per cent. The average bad debt loss on open accounts was 16.5 per cent for contrac- tors who failed, 10.8 per cent for whole- salers, 48 per cent for retailers, 11.7 per cent for automobile dealers, 16.6 per cent for radio dealers and 3.6 per cent for furniture stores. Installment credit losses were high for real estate dealers who failed, 471 per cent; plumbing and heating contractors had an average of 323 per cent; electrical contractors, 13.3 per cent; furniture stores, 9.6 per cent, and automobile dealers, 9.5 per cent Of the 238 businesses reporting om the subject only 32, or 134 per cent, used credit bureaus and 206, or 88.6 per cent, did not use this agency as an aid in carrying on their credit business, New York Central Income. NEW YORK. February 13 (#).—Net income of the New York Central Rail- road Co. for 1931 showed a decrease of $33.551,690 from the preceding calen- dar_vear, the company reported today. The company's net for last year amounted to $2.430,101, compared with £35,981,791 for 1930, Net operating in- ccme for the period was $28,075,578, against $57,235,527 for the preceding 12 months. For the final quarter last vear net operating income totaled $3,427,846, & decrease of $7.167.936 from the corrs sponding three months of 1930. Net income for the three months ended De- cember 31 last showed a deficit of $2,- 312,561, compared with net income of $4.055,334 for the like period of the preceding year. ADVERTISENENTS Rikcy orfl [ REcEIVED HERE You can find that job; or some one to work for you— most readily through a Star Classified Adv. HEN you stop to consider that The Star— Evening and Sunday—is read by practically everybody in and around Washington, you can appreciate how far-reaching are the results of an advertisement in The Star Classified Section. Copy for The Star Classified Section may be left at any of the following authorized Branch Offices— all ready to serve you without fee; only regular rates are charged. In the Northwest 11th and Park rd.—Arm- strong’s Pharmacy. 14th and P sts.— Day Pharmacy. 1135 14th st—Marty’s Cigar & Magazine Store. 17th and Que sts.— Ken- ner’'s Pharmacy. 15th and U sts.—G. O. Brock. i 2912 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 rug Store. Tth st and R. I ave—J. French Simpson. 11th and M sts.—L. Forster's Pharmacy. In the Southwest 10th st. and Va. ave— Herbert’s Pharmacy. 316 4!% st—Harris Drug Store. 4% and L sts—Columbia Pharmacy. In the Northeast 208 Mass. ave.— Capitol ‘Towers Pharmacy. angwll sts. — Home Drug re. 4th and E. Cap. sts—Paul's Drug Store. 907 H st—Garren's Music Store. 12th nm}‘ Md. ave—Luck- ett's Pharmacy. 7th and Md. ave—Louis F. Bradley. North Capitol and Eye—Ken- ealy’s Phar- macy. e 20th an ave. — Collins’ Pharmaey, ‘Woodridge. 3500 12th st— Brookland Pharmacy, Brookland. 4th and R. L ave, —John G. Biggs’ Phar- macy. Chesapeake Junetion —Dr. F. L. Wight, jr. There’s One Near You 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. ave.— Dupont Pharmacy. 18th and Fla. ave.—Bern- stein’s Drug Store. Fla. ave. and 1st st—N. Reiskin. North Capitol st. and R. L —Parker’'s Phar- 1742 Pa. ave.—J. Krick. 21st and G sts.—Quigley’s Pharmacy. 25th st. and Pa. ave.— Columbia Drrg 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. Louis In Georgetown 30th and P sts.—Morgan Bros.’ Pharmacy. 3411 M st.—Moskey’'s Phar- macy. 1834 Wisconsin ave— Haney's. 35th and O sts.— Sugar’s Drug Store. In the Southeast 3rd and Pa. ave.—O'Don- nell’s Drug Store. 8th and Eye sts. —F.P. Weller's Pharmacy. 1ith and Pa. ave. — Fealy’s Ph; armacy. 1907 Nichols ave., Anacostia —Healy’s Drug Store. 13th p?n d East ave. — Sloan’s Drug Store: F. S. Boisteuil- let, prop.