Evening Star Newspaper, February 24, 1932, Page 15

—a” RINANCIAL. FER A—15 N. Y. CURB'MARKET .S, FIRMS CLING P St T 18 181 THE EVENING STAR, WASHINGTON, D. C, WEDNESDAY, FEBRUARY 24, 1998 REDISCOUNT RATE [CURB ISSUES RALLY CUT IS PREDICTED AFTER EARLY DROP Federal Reserve Banks Are|Firmer Price Trend Appears Considering Further Move Before Midday—Move- to Expand Credit. ment Narrow. 2:58. 49% 701y 88 697, Low. 46 70% 86% 697 7 5Tly id in 100-share lots except those ated by letter * Sale— Add 00. High. Low. 2:15. 1 6 6 6 S mer 16008497 1 20 55% 27 2 17 e 4 Stock and Sale— Dividend Rate. Add 00. Lefcourt R pf (3).. Lone Star G n 88c.. | Long Island Lt 60c. Louisfana L & Ex. . Magdalena Syn Mapes Cons (4) Margay. . Mass Util cv pf 2% 50s Mavis Bottling Mead Johnson 13% . Mid West Util b8 % Mo Kans Pipe vte B 2:55. 9716 99 16 99 30 8912 90 28 94 20 94 22 desi Stock and Dividend Rate. Acetol Prod A. Allegheny G Aluminum of Aluminum Ltd. Aluminum pf (6). . Am Cit P&L A (a3) Am Cities P & L B. Am Com Alco High. 18 8 ES el Commerce Department Offi- cial Finds Stronger Com- panies Still in Field. FINANCIAL. Sales. High. e = s IT&TS S10 49% Sales. High. Low. Irish Free St 55 '60. 704 ' L 4th4%s33-38243 100 9928 S h 58 : US3ssl-55....189 8922 8912 Tipanere s o Trading Expands Somewhat, [isaus 4o, 114 9110 9028 bt 1o 3o With High-Grade List US3%s43-47.. 1 9326 9826 9326 US3% 46-56...192 9620 9610 9618 8319 USds44-54....539 100 7 9930 100 ' . BUNB PRIBES BAIN !| N NEW YORK BONDS STOCK EXCHANGE I f Received b Private Wire Diroct fe The Star Ofice IN STEADY MARKE]"Lih)‘QsK‘»OT..ISl 9716 977 Ttaly 7s '51 & 5“ 4 L 1st 438 32-47 352 9920 9915 Italy PubS 7s 1% US33%sM41-3 1212 94 24 9417 US3%sJ40-3. 28 9422 9418 :;(“ * - 414580 n Demand' US4%s47-52..211 103 4 10228 10229 : e e ot e Karstadt 6543 Kend 5365 48 w T 24 57 5T% BY F. H. RICHARDSON. Bpecial Dispatch to The Star. NEW YORK, February 24.—The bond market today showed steadiness ..and, in many issues, a rising tendency in trading that was a little heavier than on Tuesday. There was a good de- mand for relected high-grade issues re- ported from the outside market. The opening was steady. Develop- ments in the Far East were far from reassuring, but the market viewed fa- vorably, so far as foreign dollar bonds were concerned, ihe determined stand of Great Britain against an economic blockade of Japan. There was some Teason to believe also that France would oppose such a measure. There was a firm tone in European issues, although Japanese bonds, owing to the prospect of a lengthy campaign in Shanghai, were off i to 112 points. The feature of the foreign list was an advance of about 2 points to a ncv -high by Great Britain 5!,s. Figures on the tax revenues received by the Brit- ish treasury showed that the govern- ment deficit had been reduced to £58,000,000 and that a substantial sur- plus will have piled up before the end of the fiscal year on March 31. Firmness in commodity prices was re- flected in_small gains by Argentine 6s and Sao Paulo Coffec Realization Plan bs. The advance in wheat, together with estimates of a continued increase in Canadian_exports in January and thus far in February, has been paral- Jeled by small gains in Canadian gov- ernment issues and in Canadian ex- change quotations. United States Government issugs con- tinued their advance. Liberty urtn 414s crossed par for the first time on the recovery. Treasury 4s were also at par for the first time since December. Net gains of - to 34 occurred in Treas- ury 3s, 3'xs and 4!4s. Liberty 3'2s and Liberty First 415s were narrowly higher. This improvement was followed to some extent by prime municipal and corpora- ‘tion obligations. BETTER TONE IS NOTED IN HARDWARE BUSINESS Bpecial Dispatch to The Star. NEW YORK, February 24.—Inspired by the encouraging developments in the general business situation during the past week, ccnditions in the hardware trade have reflected an improved senti- qment, Hardware Age will say tomorrow in its weekly market summary. The advancing trend in the stock market, the Federal credit=relief measure, the anti-hoarding program and the pent-up buying being released by the steady de- cline in prices are the principal con- “tributing factors to the better feeling now evident. A late touch of Winter in several sec- tions of the country temporarily ac- celerated the movement of ice skates, sleds, tire chains and anti-freeze solu- tions. Future orders for Spring mer< chandise are being booked in fairly satisfactory volume, and in some sec- tions, mild temperatures have already stimulated the call for goods in this classification. Quotations on cotton, copper and cer- tain types of steel products have re- cently displayed a firmer tendency, and prices on most finished hardware items are being well maintained. Reductions, since January 1, have brought electrical appliances to the point where each dol- lar spent for them brings the greatest value of all time, The credit situation remains rather “spotty.” Collections are termed “fairly satisfactory” in most territories and ‘slow” in other sections. PARIS BOURSE PRICES, PARIS, February 24 (#).—Three per cent rentes, 78 francs 80 centimes. Five per cent loan, 100 francs 40 cen- times. Exchange on 4London, 88 francs 47 centimes. The dollar was quoted at 25 francs 40%; centimes. Washington Stock Exchange SALES. Capital Traction 55—$1,000 at 60, $1,000 at 60. Potomac Electric 51¢% pfd—10 at 1031, i AFTER CALL. Capital Traction Co.—5 at 20. CANCELLATION. The sale as of yesterda; 3 65 B—$1,000 at 103, was cancelled. Bid and Asked Prices. BONDS. PUBLIC UTILITY. ! Amer. Tel. & Tel, 39 Am._ Tel. & Te . 35 Anacostia & Po 5s.. Ana. & Pot G _Georgetown Ga ZPotomac Elec., C =Potomac Elec. 65 1953 Wash.. Alex. & Mt. Vernon v gton’ Gas 4%as. glon Gas 55 Gas 6s. ceries A 1. Gas s, series B Rwy. & Eiec. 45.. MISCELLANEOUS. Barber & Ross, Inc., 6 hevy Chase ci W. M. Cold Storage STOCKS. PUBLIC UTILITY. Com & EL = is) NATIONAL BANK (122) &'Tr. 14 SAVINGS BANK esda_(6§) ngs (10) ®) Bank of Bet Com. & Say Eact Washi Pot, FIRE INSURANCE. American (12 Corcoran (10 Firemen's National U (187 § TITLE INSURANCE. Columbia (6h) Real Estate (6h) MISCELL: Barber & Ross. Inc.. com Col. Medical Blde. Corp. D. C. Paver Mfg. pfd.. Dist. Nl Sec. pfd. (7). 111l Emer. Brumo-Selz. “A" (2) Federal Storage vid. (8) veees 100 Fed.-Am. Co. com. (1.20) Fed Am. Co. pid. (6) Lauston Monotype (6 Mer. Tr. & Stge, com. (T) Mer. Tr. & Stge; pld. () Mergenthaler Li pe (6).. Natl. Mtge & Inv. pfd. (8) Peoples Drug Swies pid. (814 Real Est. M. & G, pid. (8) Security Storage (5§). . Ter. Ref. & Wh. Corp. The Carpel Co. (2) . Mech. Mtze. eom. (6] Wash, Med. Bidg. Corp. (1) Wdwd. & Lothrop com. (1.20) Wdwd. & Lothrop pfd. (7). dividend. 52% e ks closed. 3232 exti 3% excra. extra. extra. % extra 5% extra. 2% extra. 104 160 EOUS. Bid. Askge. @10 Te0 5 1051 @ 59 i6) s « | Alle Abitibi P&P 5553, 12 A'leghany Cp Alleghany 58 hany 5s " Allis-Chalm Am Chain 6s'33. Am F P 5s2030... AmIGChb%s'49. Am Intl 558’49 | Am Metal i Am Sug Ref 65 Am T&T cv 415" AmT& T 5565, Am T&T ¢ tr 5546, Am T&T Am T&T 518 '43 Am W Wks 55°34.. Argentine 5s '45 Argentine h 14 s entine May 4 itine 6s Argentine 6s B '58. Arm & Co 4158 Arm Del 51 Atchis 4s 1905 Atchison adj 4s '95. Atchison gn 4s " Atchiscy 415848, . At Gulf 55 Australia Austria Austria B& O 4548 Bk of Chile 6 %857, Bk Chile 63%s'61. Belgium 65 '55. Belgium 6145 '49. Belgium 7s '55. Belgium 75 °'56..... Bell Tel Pa 58 B'48. Rell Tell Pa 58 C'60 B Ind Loan C 6546, Berlin Cv El 6855 Berlin C E 6%8°50, Beth Stl pm 55°36.., Bolivia 78'58. Bolivia 78'69. . Bordeaux s Bos & Me s Bos & Me 5567, Brazil 6%s'26. Brazil 61s 2 Brazil 7s Brazil 8s"41 Bk Ed gn A 5549 Bklyn Man 6s '68. Bklyn Un 5845. ... Bklyn Un 1st 5850 . Budapest 6s62. ... Buenos A 6s'61 Py BR& Pitts 43857 Calif Packing 55'40 13 Canada 4s°60. . 13 Canada 4%s "3 Canada 55 '52, Can Nat 415 Can Nat 58 Oct "69. Can Nor 438" Can Nor 63 Can Nor Tt db'40.. Can Pac db 4s Cent 11l G&E 55'51. Cent Pac "49. Can Pac 5s 44 Can Pac 5s'54. .. Cen Ry NJ g 55 '87. Cert-tddb53%s 48, Ches Corp 5847 CB&Qenis's8... C B&Q 1st rf 5871, Chi Grt West 4s'59. Chi Ind&L gn 55'66. Chi Ind&Lou 85'66. Chi M&StP 415 . C M&St P 4%s'89,, C M StP&P 58 '7 C M & St P adj 5= Chi&NW 435 20. C&NW 4%s C 203 Chi & NWcn 4%s.. 39 Chi RI&P gn 4s'88. 2 Chi RI&P rf 4s'34. 20 ChiRI&P 41:s'52 Chi RIcv4%s60. Chi Un Sta 6%8'63. C& W Ind cn 4852, Chile 6s 60 Chile 6s '61. Chile 63. Chile 7842 ... Chile Cop db 5s '47. Clev Term 5%5'72. Cologne 6% '50. Basnsnan Colomb 6s ‘61 Oct Colon 011 6538 Col G&EE 5s May'52. 13 Col GEE cou 55’61, 15 Com Inves 53549, 4 CCMd 1strf58'50. 11 Con G NY 4%58°51. 15 ConGNY 5138 '45. Consum Pow 58 '52. Con Pwr Jap 63%s. Con Pow Japan 7s. Copenhag 4% '53.. Copenhag 55 ‘52 Cuba 535 '45. . Cuba Cuba Nor Czecho 8s ", . Del & Hud rf 4s'34. Denmark 43 Denm Denmark 6s D&RG D&RGW Det E G& Det Edis 5 Yinla land 654 Finland 7s French 7s'49. o 9 . 28 9 16 1 Gelsenk’'hen 6s'34 Gen Cable 512547, J Ger Cen Bk 6560 0 34 German Tsrep ‘49 37 German Bank 7 Ger Gen Goodrich ¢ Good 1st 6 Goodyr Ru Grand Trunk Grt Nor gn or gn 7s | Greek 65°63 Humble Oil 58'37. . Humble O 5s Hud & M adj 5 Hud r5 Hunga 111 Bell Tell 58 '6 111 Cent 4853 111 Cent rf 43 11l Cent 4% '66 .. 11l CCStL&N 434s. . 111 Steel 4355 40. .. Int Rap Tr 5s '66 Int Rap Tr sta "66. Int Rap Tr 6s 1 10 T48"44. . { Int Rap Tr 7 Int Cement Int & Gr Nor 6s'52. Int Hydro El 6s '44. 59 Int M Co 58 ret '41. 144 Int Match 58 '47... 19 Int Pap b= A "47. Int Pap 68 '55 ItT&T 4% B 3 Int T&T cv 4% 839, 11 roaimrm o Butom o 39 83 35% 30y 95 27 22% 224% 343 81 791y 84% 20 91% 8 103 98 521% 59% 60 61 35 3T% 19'% a1 R4 62 72 8% 66 31 908, 97y 831, 8 96 86 824y 5 41 73 44 43y 50 50 52% 1143 116 35 56 100 95 98 78 94 40 9674 100% 591y Bax 48% 9914 50 49 401 43% 3814 3 354 30 204 88 851y 42 67 69% 6014 991 102 96 99 9714 1024 665 12 12 11% 15 52% 95 27 22 22y 343, B0t 9% 847 20 911y 9T 524 58% 60 61 3414 374 19% 91 84 611 72 784 66 31 100 39 9674 100% 59 84 48 99 50 47 40 435 96%, 51 501 351 72 60 51 381, 5514 584 50% 28 46y 39 35'% 30% 20% 88 851 424 67 681 60t 991y 103 964 103 89 6214 50 5415 62% 55 42 107% 107% 661 12 12 11% 20 91% 102% 103 98 5215 59 60 61 56 100 100% 5914 843, 48 99y | 50 47 40 43% 96% 52 52 34 61 51 D60. Lautaro Nit 6s'54. Leh Val cv 4 Loew's 65 ex Lorillard 5s " Lorillard 7s McKes & R 51%8'50 Manh Ry 1st 4590, Market St 7s 40 Marseille 6s Midvale S Milan 6 M StP& MK & T adj Mo Pac gn 4s Mo Pac 5s A6 Mont Pow Montevideo 7 Mor&Co 1st 4% Nat Dai Q48 Nat Steel 5s Netherlands 6 N Eng T 1st NYCrf 4} NYCrfim N Y Cent db 6s LS ¢l 31580 & StL4s’ &StL 414878 L5 [N dison 55 B4 4 1st 615841, NY EL H&P 4849, ELH&P b5 '48 H&H 41486 H&H cd 65’48, O&W 1st 4s . Rys Ine 6 or & Wn v 4s ! 0 Am Go 58 '61... Nor Am Fd 55 C'69. NorOT& L 6s'47. Nor Pac 3 Nor Pac 45’ or Pac 5s D 204 or Pacr 1 65 20 Nor St Pw s A '41. Nor St Pw 6= B'41. Norwa 1630 Norway 6s '43. Norway 6s'44. Norway 6s i Ore Sh L 5= gtd "46. Oreg-Wash 4s'61.. Orient Dev 515558 Orient Dev 6s Pac G&E 55’42 Pac T&T 1s! Pac T&T rf Pan Am Pet 6s Paramount 6s Paris-Ly M 6 Paris-Or Penn cv 4125 '60. Penn 5 Penn gen 5 Penn 6% Penn P& Peoples Gas 55 '47. Peor & E 15t 4540, Pere M 15t 5556 Peru 6 '60. Phila Co §s '67 Phila Elec 45 '71 Phila & Read 68 " Pillsh F M 6s°43 P&WV4lksC60. Poland 7 e Poland 8= Port Gn Porto Ales - Por RAm T 6s'42. Pub Sv G 41456 Queensland 68’47 Queensland 7s '41 Rhine West fs Rhine West 6s Rhine West 7 Rich 0il Cal 6s'44. Riode Jan 612553, R Gr Do Sul 6s '68 Rio Gr W 1st 48", Rio Gr W clt 45" RIAr& L 418'34. Rome 645" - Roy D 4545 w St L&S 9¢ StLSWen StLSW §s'; . San A & A P4s'43. Sao Pau 7s’40 ret. . Saxon P W 6 1. Saxon 7 g Seab A Lcv 65’4 Sea All Fla 65 B '35, Serbs-Cr- Serbs-Cr-S1 8562 Shell Un O11 . Shell Un Ol 5 Shinyetsu 63%s ' Sinclair Oil 63 Sinc O Tscv A Sine Cr O 534s 38 Sine P L 5s'4 Skelly Oil Soissons 6 '3 Sou Bell T&T W Bell T 5 ou 4% Sou P 412869 ww. ! Sou Pac 414581 Taiwan Tenn EI P 6s A '47. Tex & At Texas Cor | Tex & P 55 D80 Third Av rf 4s'60 Toho El Pw 6s 32 Toho El Pw 75 '55 Tokio 5135 61. Tokio El Lt 65 '53. “n Pac 1st 48 °47.. 'n Pac 4s'68. .. Tn Pac rf 45 2003, n Pac 4%5 6 "nit Drg cv 55 Tt King 5%5 1S Rub 1st 5 ‘ruguay 65'60. Truguay 6s'64. Truguay 8546, . . Ttah P& L 55 "44. Tl Pw & v 1 Utll Pow 5547, Vanadium St 5s'41. Vert Sug 1st 7542, Vienna 65 I va Ry & Pw | Va Ry Ixt bs 6 40 - Wabash 415578, 5512 | Wabash 1st 5s '39 53% | Wabash 55 B '76. 50% Wabash 55 D '80. 55% Warn Br Pic 6839 84 7014 11 561 9813 118 A8 9015 1031 48y 84 74 801% PPN PO AP 83 921 64 42 64 LR 36 57 54 5414 409 17% 908 254 3% 92 5% 1041 100% 34 4814 10815 90 102 70 91 49 : 1004 Phillip Pet 5% s°39 13 102% 991 9915 68 68 6614 80 8% 597 100% 915 8 1024 50% 99 Third Av adj 58 '60.165 » Baa aaben Beme a8ty 118 q 103 483 84 74 : 80 1021 102! 9 54 10 177 | a0% Kt 10474 100 100 34 a8 49 10818 891y 102 70 9015 49 1% 1ia 967 68 9% 87 83 8214 1001 9914 101% 52 981 1024 95 92% 9914 101 52'% 98 101% 95 100% | 26w | 941, 50 5714 6% 851 851 424 701 704 46 1% 8316 95 924 49% 102y 9914 aar; 6714 67% 65y 80 48 597 100% 915 5 85 101% 50% 102% 991y 9914 68 67% 66 80 48 597 100'% 91% 6 85 981 881y 12% | 1% 13 1% 111 19% 31% 101% | BY CHARLES F. SPEAR 1 atch to The Star, NEW YORK, February 24 —The next step in the program of casing and of financing the tremendous requirements of the Government in 1 is a reduction In the rediscount of the Federal Reserve banks. | This has been under consideration for some time and would have been made earlier had it not been for the resump-. 1 »f gold exports to France. It may stened by the drop last week in > rate of the Bank of England. Since the middle of last October the rediscount rate of the New York Bank has been 3': per cent. With the cut |in January by the banks in Richmond {and in Dallas this rate has become |uniform throughout the system. The feeling exists in Federal Reserve cir- | cles that changes in order to be ef- fective should be at least 1 per cent, [so the next move downward is likely to be from 31: per cent to 2!, per cent, :|or back to the figure prevailing four | months ago. The next decision day on rates is Thursday of this week. It 15 recognized that the Government will have to come into the market as a {large borrower to meet its require- | ments on March 15. With revenues de- | creasing, and even under the proposed higher schedules for income taxes, a | substantial defieit is probable. | From present indications the Treas- ury will again resort to moderate short- term issues to cover its commitments. It is now the expectation that the plan adopted last year of offering cer- tificates with varying maturities be- tween six months and one year will be repeated. A figure as high as $1,000,- 000,000 has been placed on the amount to be made available to subscribers. It is obvious that the success of an issue of this size will depend con- siderably on the condition in the mar- | ket when it is announced. _Therefore, a lowering of the Federal Reserve re— discount rate prior to the offering will be an important: factor in establishing a satisfactory coverage. Earlier inthe year the Federal Re- serve Bank in New York lowered its bill buying rate. It was at this time that rumors of a reduction in the re- discount rate were most frequent and evidence of an approaching change in the rediscount policy most circum- stantial. It was then that the dis cussion of the Federal Reserve policy of “moderate inflation,” in order to overcome the effects of over two years of deflation, began to develop. Later the activities of the banking authori- ties in the purchase of paper waned. For the past month there has been a condition of status quo in the bill mar- ket. In less than two months the portfolio of the Federal Reserve has decreased from $327,000,000 to $146,- 000,000. Indications now are that a change in the conditions underlying the bill market is pending. (Copyright, 1932) Washington Preduce 25Buner-()ne-pcund prints, 26; tub, w'Egu-—Hmnery, 14; current receipts, Poultry, alive—Turkeys, old toms, 15a 18; young toms and hens, 20a22; chick- ens, 3 pounds and over, 16a18; 2 to 2, | pounds, 20; broilers, 1%, to 2 pounds, 20a22; hens, large, 15a16; small, 15a 16; Leghorn hens, 13al4; capons, large, fancy, 25a28; medium, 20a23; slips, 18; roosters, 10; keats, young, 45a50; old, 25a30. Poultry, dressed—Turkeys, old_toms, 18a2l; young toms and hens, 23a25; chickens, 3 pounds and over, 19a21; 2 to 2!, pounds, 21; broilers, 15 to 2 pounds, 23a25; hens, large, 19a2l; small, 19a21; Leghorn hens, 17; capons, large and fancy, 28a32; medium, 20a25; slips, 20; roosters, 12; keats, young, 50a 60; old, 50 Meats—Beef, prime, 13; good, 12; lamb, top, 15; good, 14; veal, top, 15; good, 14; pork loins, 11: fresh hams, 13; smoked hams, 16; strip bacon, 16; lard, package, 73¢; bulk, 7; compound, 4. Live stock—Hogs, light and medium, 4.00a4.50; heavy, 3.25a4.00; pigs, 3.25a 4.25; roughs, 200a3.00; calves, 4.00a 8.00; lambs, 4.006.50. pints, _10a15; ; apples, bushel baskets, 76a1.25; fancy box stoek, 1.50a2.50; oranges, 3.00a4.00; lemons, 4.00a4.50; grapefruit, 2.25a2.50; honeydews, Chile, | 2.2502.50; pears, 3.50a4.50; alligator pears, 3.00; pineapples, 4.00; bananas, 50a2.00; limes, per 100, 2.00; rhubarb hot house, 1.00; plums, 1.75a2.00; nec gannnes, 2.50; grapes, 3.00a3.50; kegs, 0. Vegetables—Potatoes, sacks, 1.25; Idaho bakers, 240 1.75; sweets, 60a85; 2.50; limas, 4.50; Iceberg, 3.00a3.50; cucumbers, 2-dozen containers, celery, 2.50a3.00; tomatoes, repacl 2.2522.50; kale, 40a50; spinach, home- grown, 75a1.00; squash, 1.50; eggplants, 3.00; beets, 250a3.00; carrots. 2.50a 400 cabbage, crates, 2.0082.50; broccoli, 3.00a3.25; salsify, dozen, 50a 60; parsnips, 1.25a1.50; artichokes, 4.50 a5.00; watercress, 75; okra, 3.00; rad- ishes, per 100 bunches, 1.75a2.00; a paragus, dozen, 3.50a4.00; Spring on- ions, 100 bunches, 2.00; onions, 50- pound sacks, 2.00a2.25; Spanish, 4.00 mushrooms, 75a90. Maine, 100- New York, 1.15; new, bushel, 150a string_beans, 2.00a peas, 7.50; lettuc peppers, Grain Market By the Associated Press CHICAGO, February 24 —Wheat prices here tended upward early today, influenced by strength of the Liverpool market and by word of widespread Eu- ropean crop damage. Large export bu iness in North American whea} over- night was indicated. Opening at %a% advance, Chicago wheat futures afterward rose further. Corn started '3 off to % up and subse- quently showed gains all around. “Higher prices on wheat developed. Dispatches said injury to Winter wheat in European continental countries was being reported generally. Meanwhile persistent subnormal condition of wheat in Western Kansas was emphasized by an official summary. Positive identifica- tion of Winter killing in some coun- ties was announced and forecasts were made that in Western Kansas the abandonment of acreage would be at | least average. Wheat bulls gave attention also to I reports of alternate freezing and thaw- ing in eastern sections of the Ohio Valley. Absence of snow covéring in other parts of domestic Winter wheat territory -was likewise noted, with like- lihood of crop damage if extreme changes in temperatures occurred. Speculative buyers displayed caution, however. Corn and oats reflected wheat strength, but were inclined to lag. Provisions were easy, responsive downturns in hog value: Sales. Warn Quin 6s'39. . 1 | Warsaw 7s'58..... 1 | WstSh 1st4s2341. 5 West E14b 5s5°44.. 14 West Md 455 | West Md 5 West Pac 5846, .., | West Union 5s 51, West Union 5s 60 West Un 63536, . Wis Cent gen 4536 Yokohama 65 '61. .. Ygstn S&T 58 A'78 Yestn S&T 5s o Fal vrwwanne : | rally just before mid-day enabled the 1at 644 BY JOHN A. CRONE. Special Dispatch to The Star NEW YORK, February 24.—A slight | Curb Exchange to regain most of thel| losses that had been recorded s a| result of a lower opening today. Trad-| ing "Yemained slow despite the firmer | price tendencies. Electric Bond & Share around 10 was up fractionally, but Cities Service was @nchanged. Standard Oil of Indiana @round 153; also did not change from its previous close. Ford Motor, Ltd, rallied after an early decline. | Of the four main trade indices that normally come out before Wednesday's opening. those of steel operations and car load showed declines, while oil productior: showed another encouraging decrease. The weekly report of elec- tricity output was delayed because of the Monday hollday The weakness of Tuesday's close in- fluenced early overseas trading in trans- | atlantic shares, most cof which were| heavy. This. in turn, caused recessions here in such shares as Brazilian Trac- tion, Ford Motor, Ltd., and other for- | eign issues | Ford Motor, Ltd., rallied as London ) cables told of the preparations being | made for the manufacture of the new | [ « 2 G % « e ¢ « G o o & 5 & & bantam model at the Daggenham plant The reception being accorded to new models in the Dominion was responsible for the quickened demand and stronger quotations for Ford Motor of Canada A. Cord Corporation firmed as Auburn re- covered, Halving of the common dividend of Draper Corporation, bringing it to a $2 annual basls, was not forecast by its late market movements Tuesday, wWhen the stock jumped 3 points. Trans- continentaly Air Transport failed to fore- cast with &ny accuracy its 1931 state- ment showing a loss of $90,666 against $895,059 in 1930. Food shares remained irregular in the | third hour when the rest of the mar- ket displayed rallying powers. Great Atlantic & Pacific Tea lost 3 points on | as many trades. Fajardo Sugar dipped into new low ground. Bickford's pre- ferred was off a point. Western Dairy Products reported 1931 income was $4.23 | on the class A and 94 cents on the class B shares, against $4.22 and 90 cents, respectively, in 1930 Price moyements in chemieals con- tinued mixed, Americann Cyanamid B improving as Heyden Chemical was declining. Tobaccos were somewhat easier. New York Cotton Special Dispatch to The Star. NEW YORK, February 24.—Opening cotton prices today were unchanged to | 7 points higher. ~Trading was active with brisk bidding for near contracts from the trade and foreign houses. Commission house and Southern offer- | ings were heavy in January futures Opening prices were: March, 6.83, up 6: May, 7.01, up 3; July, 7.17, up 3 October, 7.39, up 7: December, 754, up 4, and January, 7.61, unchanged. O Redmond & Co.—We believe that prices are Hkely to remain in a trad- ing area for the time being. BONDS ON THE CURB MARKET. Sales in thousands 9 Aluminum Co 5 '52.. 1Am Cmwlh Pw 6s " 3 Amer El Pow 65 A 3 Amer P & L 65 2016. . c Gas 6s B 45 ch Pow 5s 56 P & L 55 '56 S0 G & E 411549 C 15 Ass0 Gas & El 5s 5 8Asto Gas & El 1Asso T & T 5'2s A 1 Tel Can 55 B | Tel Can 35 C ‘60 ingh El 4125 '68. an Nat R E 75 E '35 9 Cap Adm S5 A 5 ofina. B & L en T B S 41as B en IIL P 8 4'2s H ‘ent Pub Ser 5!2s " Cent St P&L 5'2s '53 5 St Real 5'3s A '49 ties Service 3s 505 DOMESTIC BONDS. . High. Low. Noon. 951; 95 98% 2 32 3% 36 36 T8l 1012 Q000000wT! erv Pow 525 '52 leve Elec Tilus 5s 139 Comwh Edis. 4s P '81 i PAL 5s '57 Util 65 A Pow 4125 '58 58 et C Gas 65 A ‘47 t Int Brdg 6ss '52 7 t Ut Inv 55 A '54. 251 on 55 '33 100%, 020000 oD0999 restone Tire da P & L rean Pow Bronze Mot Acc Mot Ace 2Gen Eefrs we s oo@e- Sssgasaese P&, 85 2 isull Utilit 65 B " nt Pw Sec 6'35 ‘54 2 Internatl Salt’ 5s 2Intern Sec Am 5s ! 2 Intersta Power 53 '57 P S'4lys 58 F b L&P 85 B /61 Pw &1 als i Calit G&l Stat Pow 4135 61 Pow 41us D 36 G 14 Pacific G&E “5: 1Pac Inv 55 A 5Pac_Wes Oil 6 1Pa Cen P&L 41 1Peoples L&P 55 2 Pledmt Ei 65 1Pow Co N Y'8! S Proc s Gam 41 1P 8 No Til 4125 F 1FBb 8 P&L 5lus A ‘49 5Pug 8 P&L 55 C '50 4Pz 8 PAL 4155 '50 D 1Qunsb Gas 5'5s A '52 & Roch Cn P A 55 5Safe I Wat 4%s /19 & 2 Shw W&P ‘41is D '70 16 SE P&L 65 A 2025 xw 5 South Calif E4 bs '51 18ou Calif Edis 5s '54 9 28o0u Cal Gas 4155 '61 3 Southw G&E 55 A 11 Stand G&E cv 65 * 4Stand GasiE 6s 1 Standard P&L 25 Tob PS NJ 8izs 2 P& L 6s : Lt & Ry 55 '32 Rubber 65 '33.. E & P 5s A '55 Pb Ser Bius A 48 Pub Ser 53 B '50 s Tex Ut bs A '57 FOREIGN BONDS. aden Con Mn 7s '51 26 El Cp 618 65 zw 443 Mtz 7s C er Cons Mun s '47 : Cons Mun 47 Gestueral 65 '33 xw un It B 755 AC '63 reo Hyd El 7s 1 Sup Pow 6s A '63 ansfleld M&S 7s '41 Saxon Pub Wk 5s '32 5 Stinnes 7s 36 xw... 1 Stinnes s 46 xw... ww—With warrants. XW—Without Warrants. n—New. wi—When issued. Qonty 0 o '52 oo Am Founders...... Am & For I'w war. Am Gas & EL (31).. AmLt&Tr(22).. Am Manufacturing Am Superpower. . Am Super 1st pf(6) Am Util & Gen B Appalachian Gas Appalach Gas wr. Arkansas Asso Asso Asso Asso T&T A ( Tel Util (b8%). Atlantic Sec Corp. . Atlas Utiliti . Auto Vot Mch ev pf Babcock & Wil (4). 25s Bell Tell of Bickford pf (2%).. 3 Bliss (EW) (b8%). 1 Elue Ridge . 62s Blue Rodge pf (a3) 362s Brazil Tr L&P (1). 10 Buff N&E pf (1.60). 3 ‘anadian ) cont. ent Pub Sve Del. . ‘ent Pb § o) entrifug P ities Sve pf A lev Elec 1lu 1.60. lev ELIu pf (6). 208 100% NG & Ecvpf ( 308 8214 omwth Edison ( 35s 108 ‘omwlth & Sou war 13 ‘omunty Wat Svi 6 A M Co ct 8 onsol Copper..... 2 ons Gas Balt 3.60. 1 ‘ons Min& Sk2%. 10s Cont Chicago - Cont Shares cv pf.. Cord Corp... Cosden O]l cesee Crown Zeller pt A 3 255 51ty 30 100% 8215 108 * f 11 & # 621 Dayton Air & Davenport H Deere & Co De Forest Radio. .. Det East States Pw B.. Eisler Elec Corp. .. S b6 % Bnd & Sh new. Elec B& S pf (6) ec P & L op wa c P&L 2d pfA T, Europ El Ltd A 30c Evans Wall Lead. . Ex-cello Air & Tool jardo Sugar. . ederated Capital. Federated Cp cm pf Federated Metals. . Ford Motor Can A. Ford M Ltd p36¥c. Fox Theaters A. Franklin Mfg pf. 0 OV O b 121 14 | 7 150s 1 1 1 508 1 2 12 8 1 I Aviation Iden Coal(4) Gold Seal Elec Golden Center. Goldman Sachs Gorham Mf vite GLA&P Tnv 16 Gult Oilof Pa.... —— Hecla Mining (10¢) Heyden Chem (2).. Horn (A C) 1st pf.. Hydro Elec Secur. , Hygrade Food. 0 110s149 10 28 o 8t — Imp Ol of Can 50c. Indlana Pipe L (1). Int Petrol (1)..... Util B. A nterstate Equi ¢ pj Italian Superpw A, —_— Kirhy Petroleum. . Kirkland. Lefcourt Rty 1.60, % | Ungerleider Fin. | Union Tobacco. . | Van Camp Pack Venezuela Pete. Vick Financ (30c) Mountain Prod 80c atl Ame Natl Aviation Nat Bnd & Sh (1).. Natl Fuel Gas (1). Natl Investors..... 2 2 . Natl Invest war. 2 Natl Pw&Lt pf (6). ic Nat § T Sec A $60c. Natl Transit (1) Newberry New Eng Pw pf (6) 808 Newmont Mining 1 N Y Transit new... Niagara H Pw (40¢) Niag H Pw A wr. .. Niag Sh Md (20¢).. Nipissing..... Nitrate Chile B.... Nor Central Texas. North Europ Qil. .. North Sta Pw A (8) Nth Sta Pw cm pf 6 10 Oilstocks Ltd A . Pac G&E Ist pf 173 Pacifi West Oil. ... 31 | Pandem Oil. . Paramount Motors Parke Davis 11.65.. Parker Rust Pf (3) 1 naroad (40c) . ... Pet Milk pf (7) Philip Morris Pi Producers Royalty | Pub Util HIA X w.. Pure Oil pf (6) > IntlA. . ublic Ga: arn Reynolds Investing tchfield Ol C: 10% 4 6% 1" 1 s 1ig 15 125 21% an & 1% . 1 . L 14 1% 125 21% hattuck Den Min. . enandoah Corp er Mfg (8).. Sou Cal Ed pf C 1% outhern Corp. tand Oil Ind (1 tand Oil Ky (1.69). nd Silver & Ld. . Stutz Motor Car unray Oil wift Intl (14). Tampa Technicol Trans Air Trans Trans Lux DLP S, Tri-Cont Corp wr.. Triplex Sfty G “hatel B td Dry Dock nited Founders. .. A B TN i 000 e N B3I 1O U - = o T United L&P A (1).. United L&P pf (6), U 'S Elec Pw ww. ( U S & Intl Sec United Verde Ex Utll P&L (b10%). . Util P&L B et b10% Util& Ind pf1d:... are mhe anene Walker (H) 25¢ v dollars based on last quarterly or semi-annual payment. °*Ex dividend. fPartly extra. iPlus 4% in stock. a Payable In cash or stock. b Payable in stocs. e Adjustment dividend. fPlus 5% in stock. gPlus 6% in stock. hPlus 1'% «1 stock. §Plus 2% in stock. k Plus 10% 1 ctock. m Plus 3% in stock. n Plus 8% in _cck. p Paid last year—no regular rate. Baltimore Markets Epecial Dispatch to The Star. BALTIMORE, Md., February 24.— White potatoes, per 100 pounds, 75a 1.00; sweet potatoes. bushel, 35a80; yams, barrel, 1.25a1.50; heans, bushel, 1.50a3.00; bees, crate, 2.50a3.00; cab- bage, hamper, 1.00a1.50; carrots, bushel, 1.0021.25; caulifiower, crate, 2.00a2.15; celery, crate, 1.50a3.00; kale, bushel, 25 a30; Brussels sprouts, 10al5; lettuce, crate, 2.50a3.50; onions, per 100 pounds, 3.0024.00; peppers, crate, 1.50a2.50; spinach, bushel, 85a1.00; squash, bushel, 1.00a1.50, tomatoes, crate, 1.00a3.75; turnips, hamper, 25a40; apples, bushel, 75a1.50; grapefruit, box, 1.25a2.50; oranges, box, 2.00a4.00; strawberries, quart, 25a30. Dairy Markets. Chickens, young, 20a21; Leghorns, 17 al8; old hens, 14a18; Leghomns, old, 15 al6; roosters, 11al3; ducks, 12a2: geese, 11al18; pigeons, palr, 20a25; turkeys, 15a30. Eggs—Receipts, 1576 cases; nearby firsts, 14%.a15; Western firsts, 14%al5; duck eggs, 17a20. Butter—Good and fancy, creamery, 21a25; ladles, 15al6; process, 19a20; store packed, 9a10. Hay and Grain. Wheat—No. 2 red Winter, garlicky, spot, domestic, 61; February delivery, 61; March delivery, 61%. Corn—No, 2 yellow, spot, domestic, 42| a43; cob corn, new, 2.00a2.10 per barrel. Oats—No. 2 white, domestic, 35a36; No. 3 white, domestic, 34a35. Rye—Nearby, bag lots, 40a45. Ha}'f}}ecelpls. none, General hay market is quiet. Receipts ample of timothy, but good mixed hay scarce and bringing a premium. Prices range from | 12.00 to 16.00 per ton, as to grade and kind; latter figure for choice clover | mixed. The poorer grades of timothy | are irregular in price. | Straw—No. 1 wheat, 8.50a9.00 per ton; No. 1 cat, 9.00a10.00 per ton. 2 | score), Live Stock Market. Cattle—Receipts, 125 head; light sup- | ply; market slow. Steers—Choice to prime, none; good to_choice, 6.00a7.00; medium to good, 4.75a5.75; fair to medium, 4.004.75; plain to fair, 3.50a4.00; common to plain, 3.00a3.50. Bulls—Good to prime, none; good to choice, none; medium to good, 4.00a 4.25; fair to medium, 3.50a4.00; plain to fair, 3.25a3.50; common to plain, 3.00a3.25. Fresh cows and Springers, 30.00a 60.00. Cows—Choice to prime, none; good to choice, none; medium to good, 3.75a 4.00; fair to medium, 3.25a3.75; plain to fair, 2.50a3.25; common to plain, 1.50a2.50. Heifers—Choice to prime, none; good to choice, 5.00a5.50; medium to good, 4.50a5.00; fair to medium, 4.00a4.50; plain to fair, 3.00a4.00; common to plain, 2.50a3.00. Sheep and lambs—Receipts, 50 head; light supply, market steady; sheep, 1.00 a3.00; lambs, 4.00a7.00. Hogs—Receipts, 700 head; fair sup- ply, market lower; lights, 4.40a4.85; heavies, 4.25a4.50; medium, 4.40a4.90: roughs, 2.75a3.75; light pigs, 3.75a4.15; pigs, 4.00a4.55. CHICAGO DAIRY MARKET. CHICAGO, February 24 (#)—But- ter—Receipts, 11,695 tubs; market firm; creamery specials (93 score), 22%4a 231,; extras (92 score), 22%; extra firsts (90-91 score), 217za21%; firsts (88-89 score), 201:a21; seconds, (86-87 1915820; standards (90 score, centralized carlots), 223%. Eggs—Receipts, 7,486 cases: market | steady; extra firsts.'143,; fresh-graded firsts, 1414 ; current receipts, 13%. —_—e Truck Tire Price Reduced. AKRON, Ohio, February 24 (#).— Goodyear Tire and Rubber Co. today said a 10 per cent price cut announced Monday would apply only on truck tires to large commercial accounts. There will be no change in the price of auto- | mobile tires for passenger cars. STOCK AND BOND AVERAGES By the Associated Press. STOCKS. 50 Industrials. Yesterday " Previous day Week ago.. Month age.. Year ago. Three years ago Five years ago. High, 1932 Low, 1932 High, 1931 Low, 1931 High, 1930 Low, 1930 Yesterday .. Previous day Week ago Month ago. Year ago. Two years ago.. Three years ago High, 1932 Low, 1932 High, 1931 Low, 1931 High, 1930 Low, 1930 20 Rails. 34.2 35.5 38.2 36.9 105.9 135.6 112.0 39.8 30.3 106.2 30.8 141.6 86.4 20 Rails. 75, 4.7 5.2 104.7 1049 103, 76.9 BY CHAS. P. SHAEFFER, Associated Press Business Wi The majority of American exporters jare clinging to their foreign markets, | often in the face of a loss, or at least with no profit in sight A. 8. Hillyer, chief of the Commercial Intelligénce Division of the Commerce Department, says quite a few of the ex- porting. firms have dropped out of the field, but the majority that remain rep- resent the cream of the crop, being those streng enough to weather the ad- versities. of two_vears' unsatisfactory world busine: Those that have fallen by the wayside represent generally, he sald, the ones the trade can best afford to lose. Many exporters were represented as ! feeling the ccst of re-entering a mar- ket would be greater than continuing to |sell at this time without a profit, and |are therefore finding ways to keep goods moving through established dis- tribution channels. Mr. Hillyer believes international trade has passed its worst stage. This is evidenced, he says, in buying orders at more frequent intervals, although purchasing from all points continues |on a hand-to-mouth basis. Inventories in all countries were said to be at ex- tremely low levels. LROAD INCOME IS CONTINUING By the Associated Press. NEW YORK, February 24.—The first seven railroads to report January net operating income showed a continuance of the recent decline. Total net aperating income for these carriers was $3,401,000, against $4,753,~ 000 in January of last year and $6,- 376,000 in December of 1931. Gross revenues in January were $31,- 796,000, as reduced from $41,956,000 in the like month of 1931. Automobile Sales. NEW. YORK, February 24 (P.—Au- tomobile sales thus far in February have shown little betterment over the low January level, says Standard Sta- tistics Co., in an analysis of the motor situation. This condition is attributable not only to the unsettled business situ- ation, but also to the buying public's determination to await the new PFord cars, according to the analysis. Should rumors of more liberal financing poli- cies materialize, a decided rise in motor sales would likely follow, it is claimed. P aln 69, First Mortzase 0 Seeuritic Safe, Sound. Convenient Denominations Real Estate Mortgage and Guaranty Corp. 1610 K St. Nat. 1408 WANTED Side-line Salesmen for Wash- ington and surrounding terri. tory for new high-grade toilet article on commission basis. Ad- dress Box 481-H, Star office. $5,000 Life Insurance for $44.65 Anmnll‘y (At Age 35) SEND DATE OF YOUR BIRTH FOR ILLUSTRATION Company’s Assets, $700,000,000 M. LEROY GOFF . 1036 Woodward Bldg. Nat. 0340 Insurance Exclusively Over 20 Years ENTERPRISE SERIAL BUILDING ASSOCIATION 7th and Indiana Ave. N.W. LOANS On improved District of Columbia Real Estate Security 67th Series of stock now open for subscription James E. Connelly, Ja President F. Shea, retary First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc, Money on Hand to Loan on First Deed of Trust 6% Interest Reasonable Commission and Prompt Replies to Applications JAMES F. SHEA 643 Indiana Ave. N.W. The COMMERCIAL NATIONAL BANK 14th and G Streets Banking in All of Its Phases 61.7 105.7 62.3 109.8 97.3 o (Copyright. 1932, Standard Statistics Co.) WE PAY 5% INTEREST UR SAVING SAVE for Prosperity! This Institution loans vor savings (on safe first m kages) to home builders . . stimulating activity in many Open Daily 9 to & Saturdays Until Noon .