Evening Star Newspaper, February 26, 1932, Page 15

FIN ADVANCE IN BOND PRICES CONTINUES Government List Moves For- ward After Cut in Bank Rate. BY F. H. RICHARDSON. Epecial Dispatch to The Star. advanced strongly today in an active market. The demand for high-grade bonds over the counter was reported brisk. The market opened higher, reflecting the cutting of the rediscount rate of the Federal Reserve Bank of New Yoric from 3'% to 3 por cent. This move was in line with market expectations and with the cheap money policy that is now the evident aim of the adminis- tration. In the belief that the present bank rate cut preseges another reduction soon, long-term Liberty and Treasury | Am Wat Wks 6s bonds were bid up 1> to over a point at the opening. Although this brought out some realizing by those who had bought further down, the Government list retained substantial net gains. The upturn in Government bonds carried along prime corporation issues such as Atchison General 4s, American Telephone 5s, Norfolk & Western 4s and Consolidated Gas 5!,s. Industrials like Standard _Oil General Motors Acceptance 65 small gains. An advence that at one time amount- ed to mearly 7 points in Cotton Belt Consolidated 4s was the feature of a rising railroad bond lis'. The St. Louis- Sculnwestern has asked the Interstate Commerce Commission for permission to issue $39.599.750 of general and re- funding mortgage bonds, which it pro- poses to pledge as collateral for a loan of $31.727.750 requested from the Re- construction Finance Corporation. Pre- sumably, if the loan is granted. the 4s— which mature to the amount of $20,757,- 750 on June 1—will be paid. There is & chance, however, that the holders of | the 4s will be asked to accept an offer | of an equivalent amount of the general end refunding bonds. made Capital Reduction Planned. NEW YORK, February 26 (Special). Stockholders of the Radio-Keith-Or- pheum Corporation will vote March 23 on a proposal to reduce the company's capital, through a reduction in the amount of capital represented by issued shares of common stock without par value to $10 a share from $19.94 a thare. PARIS BOURSE PRICES. PARIS, February 26 (#).—Three per | cent rentcs, 78 francs 90 centimes. Five per cent loan, 100 francs 55 centimes. Exchange on London, 88 francs 43| centimes, The dollar was quoted at | 25 francs 3912 centimes. Washington St&:k E;(chanue SALE Potomac Electric 5 103%. Washington Gas 6s “A"—$1,000 at 100, $1,000 at 100, $1,000 at 100, $1,000 at 100, $1.000 at 100, $1.000 at 100. $1,000 at 100. $1.000 at 100, $1,000 at 100, $1,000 at 100. | Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Tel 4%s Am. Tel. & Tel. ctl. tr Anacostia & 2ot. R. R. Ana & Pot. Guar. 8s.. C. & P, Tel. of Va. 5s C ‘& P. Tel. of Va. 3 Crpital “Traction R. R Georgetown Gas 1st 5 jCity ‘& Suburban 55 Potomac Elec. Cons. 57 iPotomac Elec. 65 1953 iWash. Aiex. & Mt. Vernon ctf. Washington Gas 4'2s i ‘Washington Gas 5s. {Wash, Gas 6s. series ash Gas 6s. series Wash Rwy. & Elec. 45 : MISCELLANEOUS. Barber & Ross, Inc., 6'as. Chevy Chase Club 55, . ‘olumbia Country Club 5%2s . M. Cold Storage 5s. STOCKS. PUBLIC UTILITY. Amer. Tel. & Tel. (9). Cavital_Traction Co. ‘Wash. Gas Lignt Co. (18) N & W. Steamboat (I Potomac Blec. Power 6'c Pot. Elec. Power 5'z¢; Wash Rwy. & El Com. (7 Wesh Rwy, & EL pid. (5)... pfd—10 at B i NATIONAL BANK. ICapital (14) Columbia (12} Commereial (stamped) (10} District (8) - Fed -Amer. Natl Bk, & Tr. (2 Liberty (781, s Lincoln (10) Metropolitan (14) Riges (15) Becond (9¢) . MISCELLANEOUS. Barber & Ross. Inc.. co Col. Medical Bidg. Corp. D. C. Paper Mg, pid Dist. Natl. Sec_ ptd Emer. Bromo-Selz. A 1 Storage pid. ( Co com. i1 m. Co. pfd.” (6/ Lanston Moriotype (6) Mer. Tr. & Stge. com Mer. Tr. & Stge. pfd. () Mergenthaler Linotype (§ Natl. Mtge, & Peoples Drug § Real Est. M. & G._pfd. Security Btorage (53 Ter. Ref. & Wh. Corp. (3) The Carpel Corp. (2) 3 W. Mech. Mige, com. (8). Wash. Med. Bldg. Corp. Wawd. & Lothrop, com Wdwd. & Lothsop pld *Ex-dividend bBooks closed 1250 extra 130¢ extra §1% extra elia% extra m FOi(EIGN EXCHANGE. (Quotations furnished by W. B Hi old Se pound franc beliga in, mark Vienna, schil Budapest T. S. TREASURY CERTIFICATES Reported by Chas. D. Barney & Co) +—Matur Bid o 35 Sep 3%as Dec. 3%s Feb SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co) B Ofter 86% 88's 86 5 1943 1027 Wat 5y 1934 89 Bultimore & Ohio 4'25 1933 Belding Hemingway Co. 65 1 Bethlehem Steel 55 1 Canagian Nor 3w Chi. Northwes e™n R Chicago Rock I-dand 45 1934 .. Lor, & Wheeling 55 1933 Colorado & So. Rwy. 4l.s 1935 Commercial Credit Co. 5'25 1935 Delaware & Hudson Co. 5s 1935 Denver & Rio Grande 4igs 1936 Gen. Mol Accep. Corp. &s 1937 General Petroleum Corp, 55 General Public Service 5ts Grand Trunk of Canada 6s Houston E_& W. Texas 5s Humble Oil 1932 Laclede Gas Light Co Louisyille & Nushville 55 1937 New York Cent. & H.4s 1934 New York. Chi_ & St. L. 6s 1932 Northwestern Telep, 41zs 1934 Penna. R. R Co. 6las 1936 Portlana Getieral Elec. 5s 1935 Republic Tron & Steel 5s 1940 R5s 1933 1930 1839 1936 1933 55 1934 NEW YORK, February 26—Bonds |4 | A | Argentine of New Jersey 5s and | | Can Pac db 4s. ANCIAL. v v US3%sJ 40-3. US3%s4 UNITED STATES. (Sales are in $1.000.) Sales. High. Low! Lib 3148 32-47 539 98 11 9730 L 1st 43S 32-47 1436100 8 9926 4th 43% = 33-38 791 100 15 1003 83851~ 183 90 12 899 314s'49....217 9128 9020 %sM41-3420 958 9427 79 95 94 28 . 69 9417 94 113 978 974 .425 100 18 100 2..168 103 16 103 4 Bales. High. 3 381y 2 82% 1 67w 345 30 2914 88Y% 7S 45 44 US4ks4 Abitibi P&P 5 Ab& St5%s 43... ddms Exp 48 48 leghany Cp 5 Alleghany 5s* Alleghany Allis-Chalm AmF P Am G Ch Am Intl 5158 AmN 6135742, m S&R 18t 58 47 mT&T ev 41 AmT&T 5565, .. Am T&T c tr 55 '46. Am T&T 55 160, Am T&T 5%s'43 Am W Wks 5s'34 53. 69 213 891 1031 90 T 6213 48%, 54%, B5% 551k 551a 7815 6414 Argentine 5845 Argentine 6s Ju Argentine 6s Oc" Argentine fs A Argentine s B Arm & Co 4% Arm Del 5% Atchis 45 190 . Atchison gn 4595, Atchisev 415548, . AtIC L st ANIC T ¢ At Guif ; Aastrali Australia Australf Austria 7 Austria 7s % B&O 4548 B&O41s R&OC R&O Ist 58748, B&Orf 5595, B & O 5s D 2000, B & O 6s'95 B & O P&W B&OSwdvos50.. Batav Pet 438 '42. Belgium 68 '56. Belgium 6%s 49 Belzium 7855 Belgium 7s '56. Bell Tel Pa 5s B'48. Bell Tell Pa 55 C'60 Berlin Cy El 68 '55. Beth Stl pm 5s'36. Beth St rf 53%s '42. Bolivia 7 k Bolivia 7s ‘69 981 100 100 24 941 90y | Bordeaux 6s '34. Bost & Me 4% 8'61 Bos & Me bs '55. Bos & Me 5s8'67. Brazil 6155 °26. Brazil 614 s '27 Brazil 85 '41. Bk Ed gn A 5549, Bklyn Man 65 '68. . Bklyn Un 5845 Bklyn Un 1st 58'50. Budapest 65 62. ... Buenos A 6s'61 Pv. BR & Pitts 438 '57 Bush T Bldg 55'60. Calif Packing 5540 Canada 45 '60 Canada 4%s " Canada 55 52 Can Nat 43s'54... Can Nat Ry 4148'56 Can Nat 4128 . 'an Nat 43 Can Nat 58 July'69. Can Nat 58 Oct '69. Can Nor 415 5 Can Nor 6155 db ‘46 Can Nor Ttdb'40. . 102% 96 221 314 55 82 6614 7618 924 901 7% Tl 765 801s 831 82% 9l 981y 98 601y 8514 “ 9% 731 90 41 6814 8214 8514 96 54 3514 60% 641 68 381y 9%, 4215 4214 29% Can Pac 58 '44. Can Pac 58 '54. . Cent Il GRE 58’51, Cent Pac 4s’49.... Cent Pac 58’60 Cen Ry NJ g 58 . Cert-td db 5355 "48. Ches Corp 55°47... C&O04%8B'S5. .. CB&Qgnds'ss.. C B&Q 1st rf 5871, Chi Grt West 48'59. Chi Ind&L gn 5566 Chi M & St P 45'89. Chi M & StP 4248 C CM&St P 45880 C M StP&P 55 '75. . CM & St Padj . Chi&NW 43s C&NW 4168 C Chi & NW cn 43 = CRI&NW rf 58 2037 Chi RI&P gn 45 '88. Chi RI&P rf 45 ‘31 ChiRI&P 435 Chi RIcv4%s'60, C TH&SE in o'60 Chi Un 8t 544 Chi Un Sta 5 Chi Un Sta 6 Y C & W Ind cn 48’52 Chile 65 '60 Chile 6s 61 Chile ‘4 Chile Cop db 55 CCCEStL 435 E Clev nilps Colomb s Jan '61. Colomb 65 '61 Oct. . Colon 011 68 38 . Colo & Sou 4155 80, o= SR ERNeARRBNDN - - r Sewade 42 41 94y 993 2 107% 9% B30, 92 . 103'% Con Pwr Jup 6135, . Con Pow Japan 7. Consum Pow 58 ° Copenhag & Cuba R Cuba 51 . 91k 94 wdison r Deutsche Rk Dodze Br Donner Duquesne 415 : Dutch East I Mar. . Dutch E Dutch Duteh E ie 1st con 45 ' | ¥rie con 45 A 5 ieconv 4sB... 114% 115% 94 1001 n Baki n Motors 6s 6 100% 794 Ger Cen Bk 6560 J Ger Cen Bk 65°60 0 14 Ger G Goodrich cv 68 '45. Good 1st 64 5 Goodyr Rub 58'57. . GrandTr sf db 6s'36 424 70 74 95% 985 68 T8Y: 95 10 7 591y Greek 65°63 Hav El Ry 4 7 Hud & M adj 58 60 Binclair Crude Ol Co. $as 1938 uthern, Pacific go 1904 o5 &G. 933 5 &G lec. f",‘& Pow. 58 133 i 1034, &S b N Rvy. 8o e oss. Hud & M rf 58 ' Humble 011 58 '37. . Humble O 5% Hungary T8 '44 841y 97 841 4Ts 4T 2:55, 98 1 99 26 100 5 899 90 26 94 27 9428 94 974 100 5 103 4 . 2:88. 3815 82 P 0 2814 88% 43 67 69 215 90 104 97% 90 My 6215 48% 543, 55% 55% 5! 731 64y 0 86% 9y 80 65 40% 49% 5414 RAX 901, 45 8214 8214 5314 92 68 66 6 764 e 79 87 93% 98% 9814 100 100% 24 9474 901 i ‘ 1021 9% 82 661y 6% 9% 90% 7% % 761 1 914 981y 98 611 R TT% 4 80 315 90 41 68% 8214 8514 96 54 35'% 60% 641 68 38 9% 4215 42% 294 46 73 634 S4% 42 41 941 99%, 107% 53% 684 95 R1% 8014 ‘ 103% 911y 94 114% 116 1007, 961, 97 s 1003 100% 100% 13 pac rf 48 3003, . 47 Sineln THE EVENING STAR, WASHINGTON, D. C, FRIDAY, FEBRUARY 26, 1932. Received by Private Wire Direct to The Star Office Sales. High. 111 Cent 4s 111 Cent 4 %5 "66. 11l Cent rf 4s” 11 CCStL&N 4%s. . T CCStL&AN Gs A. . 1l Steel 4355740, Int Rap Tr 55'66. .. Int Rap Tr sta '66. . Int Rap Tr 6s'3 Int Rap Tr7s'3 Int Cement 5s '48 Int & Gr Nor 6s'52. Int Hydro El 6s 44, Int M Co 5s ret '41. Int Match Int MM col tr 6s'41. Int Pap 6s s Int Ry C A58 IntT&T4%8" Italy Pub S 7 Japanese Japanese 6 Jugosl Bnk Kan C Ft Kan City Kan City Kan City Ter Kan G&FE 41 Karstadt 654 Kreug & Toll Lac G St Laclede 51 Lautaro Leh Val cv 4s Lig & Myers Lig & My Lorillard 5 Lorillard 7s'44. La & Ark 5s 60 L& N 58 B 2003 Lyons 6534 McKes & R Manh Ry 1st 4 Market St Marseille Midvale Stl Milan 655 '] MIlERy &I Mil El Ry&Lt M StP&SSM cn 4s. . MK&T Is MK&T4s B 62 MK&T prIn MK& T adj Mo Pac gn 4s " Mo Pac Mo Pac Mont Pow Mont P db Mont Tr 1st Netherlands 6s N Eng T 1st is " Nw S Wales 5s " Nw & Wale! N Y Cent 4s N Y Cent 45’98 . N Y Centdb 4s " N Y Cent 4 N Y Edison NYFdist6 NY EL H&P is NY Tel 4% NY W&B 4 Nia Sh Md Nord 6135 7 Nor & Wn ev 4s No Am Co 55 '61 Nor Am E i Nor O T & L 65 '47. Nor Pac 3s - Nor Pac 4 Nor Pac r i 6; Nor St Pw 65 B 41, Norway 5863 Norway 6s 43 Norway 6% '44 Norway 6s'52..... Ore Sh L 55 gtd "46. Oreg-Wash 4s 61 Orient Dev 6s'33. . Pac G&E 5542 Paramount 6s Pari M 65 M : Paris-Or 515568, Penn 4s '48 sta. Penn 4145 D81 Penn gn 415865, Penn 4155’ Penn 5564 Penn Penn &L 40 Peoples ( Peor & Mar Pere M 15t i Peru 65 60 Teru 65 '61 Phila Co 55 Phila Phila Philippine Phillip Pilish F 1st 45 '40. M 65743 P&W Vs Poland 65 "0 Poland 75 47 . Port Gn El 41.%'60 Por RAmT 6 Po% Tel & C Pra Prussia 6 Public Sery Pub$§ Pub Sv G 4 Fure Oil 5158 '37 11 Queensland 7s Rem R 51 Rhine We Rhine W Rhine W Rich Oil 1o de Jan 61 Rio de Jan 8s 46 R Gr Do Sul 6568 Rio Gr W i RIA & L4 P Un Den b nA&AP s 43, 0 Pau 7540 ret xon I' W 81551 xon 7545 ab A L ov s 45 A All Fla 6 Serhs-Cros1 Shell Un Ol Shell 1'n O invet-u 61 Sinc O 7 ne Cr o nel’ L3 1y Oil 5 Solssons Sou Bell T& W Bell T 55 ref Taiwan E P Tenn El P 6 Texas Corp Tex & Pa Tex & P 55 D '8! Third A 5 Toho I Un Pac 1st 4547 Un Pac 45’68 52 39 49% 4315 454 96 52% 52 36% T2 61 50 42 5414 52t 1 10 1 1041 100 51 9 108% 8915 1% 91 Rovy P 103% 47 18 90 81 80% 911y 1041 100 500 491 811y 74 90 68 68 74 90 9 108 8915 9915 8 R4 93 R4 89% 101% 101% k& . B4 9% 79 96 764 54% 9% 1015 947, 100% 75 10 481 85 60 45 10014 921y 1017 50 100 78% 67 101% 9474 881 88 100 5 651n TE% 48 85 60 45 100% 1014 50 8% a6 10% EW FORD MODELS WAITED IN TRADE Plans for Marketing Cars Will Interest Rival Automo- bile Firms. BY DAVID J. WILKIE, Associated Press Staffl Writer, DETROIT. February 26 —Upward of isum 000.000 for labor and $100,000,000 more for raw and fabricated materials | will be expended by the Ford Motor Co. durmg 1932 in the production of |its recently announced new models. The first of these will be shown around March 1. 28 | The figures are based on the - crally accepted belief that the Forc: Go. | is preparing for an intensive production | drive, as well as a_vigorous merchan- | dising campaign. The Ford plans are | believed to call for the production of | hait 1,000.000 units in 1932. nding further disclosure of the rd program, the remainder of the | ustry continues uncertain as to just ! what plans to make. Consequently there has been relatively little ex- { pansion of production by other units of the industry. | While the makers of cars in the same price range with the Ford are more directly concerned in the carrying out the Ford program, the manufac- rs in the medium-price bracket » considerably more than curious to know the quality and the price of the new cight-cylinder engine to be intro- duc ~over, ‘he entire industry is wait- ng to learn what changes are to be made in_the financing plans for mar- keting_the new cars. It expects the | Ford Co. to announce a plan for sell- ing the new cars on down payment of $100 and deferred payments extending | over from 18 months te 8 years, How- ever, the Ford plans in the past have been subject to so much gossip and so many last-minute changes that the in- | dustry wants official confirmation from | the Ford offices before adjusting its .| own plans to compete with them. 96 76 531 98 53 981 1017 9474 BBy 36 98 501, 51% | 92% 6% 81 804 86% That the Ford program for 1932 will | have & significant effect upon the en- | tire_automobile industry is evident in |all trade circles. Whether other auto- !'mobile finange corporations will alter | their deferred-payment plans is consid- ered to be not only possible, but quite likely to follow, if Ford decides ~pon an extension of credit. | The story of the automobile industry during the last quarter century has been one largely of Ford against the field. Ford is not a member of the in- dustry’s National Chamber of Com- merce and has consistently declined to join other manufacturers in plans they believe could be best worked out in unified programs. While Ford is proceeding with prepa- rations for bringing out his new models, rumors of plans by his chief competi- tors to match his 1932 offerings as soon as they have opportunity to examine , |them continue to spread in trade cir- cles. INVESTMENT TRUSTS | NEW .YORK, February 26 (#).—Over- | the-counter market: Bid. Asked ABCTrShrs “E.. Ny e Am & Gen bee (AT Am & Gen Sec "B . Am & Gen Sec 85 pf. Am br & Con 6% pf.. Am Corp I'r Shrs... Fars o Far: i Am Ins Stocks Assog Stand Oil At] Sec ol., Atl Sec war Au & Pac Ini uniis Atl & Pac com ww Atl & Pac i wer... Bancamerica Blair . | Bankers Nat Inv... { Bansiciila, Corp Banic. Industry .11 British Type Inv | Central Nat Corp “A" Central Nat Corp “B". Gentury Tr Shrs | Ghain & Gen® Eauities | Charterca Tnvest ‘ggn "!d! ll;]\' Bnl | Ghelcea Exc] Gimifhuve o sn coiporate Trus! | Corporate Trust A A CGorporate Trust Accum Ser Grum & Foster | Grum & Fost 8 | Crum & ‘(Fmixh‘ o um & Fost Ins rs N Y n [ Am f Diversified Tt / versifie Diversified Tr C . Diversified Tr D | Pixed Trust Sh B | Fund Tr Shrs A Fund Tr Shrs B Granger Trade Gude Winmill Trad Huron Holding Corp Incorp Inves! Incorp Invest Equit Independ Tr Shre Int Sec Corp Am A Int Sec Am 6/ Nation Natl Indys! Natl Tr Shrs N Y Bk Tr Shrs Nor Am Tr Shares Nor Am Tr S! Nor Am Tr & Northern Sec Oil Shares uni Old Col Inv T Old Col Tr Assoc Petrol Trad A Corp Gen $6 ected Am Sh ected Cun til Pw 58 '59 ww. 7til Pow 516847, . Vanadium St 5541, Vienna 6s ; Va Ry & Pw | Warn Br P! Warn Quin 6 West Pac 5 West Union West Union DRIVE O HOARDING REVEALS RESULTS Government Efforts to Break Credit Jam Are Meet- ing Success. BY FRANK H. McCONNELL, Associated Press Financial Writer. NEW YORK, February 26.—New York banks look forward to the end of the first quarter of thz new year with| greater assurance of a favorable earn-; ing record than they did in the last| quarter of 1931. The security markets, which deter- mine the need for writing down assets to new valuations, have behaved much better than in the preceding quarter., Moreover, there has been a slackening of the sharp decrease in bank deposits, which reached the peak of its mo- mentum in the last quarter of 1931. Credit deflation, likewise, has slackened. Most of the large local banks, it was estimated by students of bank earnings. will do somewhat better than earn their dividends in the first quar- ter. January was described as a sat- isfactory month, compared with De- cember. So far in February, this im- provement has been held. While only a distinct turn in the tide | of general business will restore the! banks to normal earning power, lead- ing executives of the larger Wall street banks have expressed particular satis- faction with recent governmental ef- forts to stimulate business. The newly enacted Glass-Steageil measure for re- laxing credit by altering the collateral requirements of Federal Rescrve banks for curreney purposes will pave the way for recovery by making credit more easily available, a majority of bankers have stated in informal interviews. The Reconstruciion Finance Cor- poration, their reports showed, has al- ready achieved the benefit of toning up business sentiment. In the first week of the corporation’s activity, even before it had made any sizable ad-| vances, the slackening of pace of bank suspensions became evident. The present Governmental campaign | against hoarding has also elicited keen interest. The psychological effect of a drive to chase hoarded money out of the mattresses was carefully weighed before the action was started. Early effects have been encouraging, reports received by Wall strect banking houses indicate. One large New York bank last week received $400,000 of hoarded gold from ! a single source, it was said. In New | Jersey, a smaller bank reported that new deposits had been made by in- | dividuals who unhesitatingly explained they were depositing hoarded money | for patriotic reasons. Baltimore Trolleys Deficit. BALTIMORE, February 26 (Special). | —The United Railways & Electric Co which controls the trolley system of | Baltimore, for the month of January | reports a deficit of $90,031.76, as_com- | pared with net profits in January last | year of $54,054.68, before allowance for the income’ bonds. | BONDS ON THE CURB MARKET. DCMESTIC BONDS. iga. Low. N 0on 9! 3641 | 11 66 " | 4 Amer Roll Mill 567 | 3 Appalech Ges 65 '45 13 Lol £l 811y 89 70 1 Con Gas U 6%as A ) Consum Pow & i Cont G s bl B P& Los A i Empire O&R 3° 4 Firestone C M Mid West Ut 35 3Mid West Ut 5s 2 Mid West U Y P& L No Ohio P&L Ohio T Stat P Repub RocA Cn Py 14 63% iscon PAL 55 F '58 82 FOREIGN BONDS. 2 Buen Air Pr 7! 5Cent Bk Co s 11 Com_Pr. Bk 5%as 14 Eur El Cp 6125 '65 33 Europ Mtg s C ' 10Finld R M Bk 6s 1 First Bo Gl Wk Ts 5Ger Cons Mun s ' 10 Ger Cons Mun 7s 1 Gestueral 6s '53 xw 5Guan W RR 65 A '38 2 Ham ES&U 5ias C '38 7 Hamburg Elec 7s '35, 2 Hanover Pro 6las '49 3Isarco Hyd El Ts '52 3 Ital Sup Pow 65 A 63 4 Lima Cy Peru las '58 1 Nethld Kgm 6s B '72 104% | | Interst Pw Del pf | ‘Received by Private Wire Dividend Rate. Add. 00. High. Allegheny Ga von & £y Aluminum of Amer 400s 50 Aluminum Ltd . 119 Am Cappr pf (5 Am Cities P & L B. Am Cyanamid B... Am Dept Stores. ... Am Equities. : Am & For Pw war. Am Founders. ..... AmGas & El (11). Am Invest B. % Am Maracaibo. Am Salamandra. Am Superpower. Am Util & Gen B Am Yvette Appalachian Gas Arkansas Nt Gs A.. Asso Gas & Elec. ... Ass0 GEEAD%. AssoG&Ect (8).. Asso Laund vtc. ... Atlas Utilities. Atlas Util war. 2% an Y4 2% Benef Ind Loan 1% Blue Rodge pf (a3) 475s Brazil Tr L&P (1). 5 Burma Ltd ret(2e) Canadian Marconi. Carib Syndicate. .. Caro P& Lt pf (6). Cent Pb S A (b5%) Cent States Elec. .. Cent & Sw Ut pf Chain Stor “ities Serv (g30c). ties Sve pf (6) Claude Neon Lts. .. tlev Elec Il 1.60. “olon Oil........ ‘ol Ol & ‘ol Pictur omwth Edison (8) fomwlti: & Sou war ‘omunty Wat Svc “onsol Copper ‘ont Shares cv pf.. *ord Corp : ‘orroon & Rey pf A Court'ds ( e Creele Cresson Cons. . Crown Cork Int Deere & Co. De Forest Radio. . . Derby Oil & Refin. . Detroit Aircraft. .. 220s Dow Chemical ). 2 Draper Corp (2). Durant Motors. ... 505 6 2 10 113 e Piche isler Elec Corp. .. c Bond & $ b6 % ec B & S pf (6).. B&S em pf(5) Elec Bud & Shnew. lec Pw Asso A (1) lec P & L op war. reholding . a Pipe L (4). Fiat Mot Ford France 3 Ford M Ltd p363 Fox Theaters A. reral Aviation Gn E Lt ret en Theat E len Alden Coal(4) 0ld Seal Elec. olden Center. .. oldman Sachs. orham Inc pf otham Knitba tA&P Tn v 163 . D 2.40 a 31y ™ [ 1344 % % 2% 8ia 1 146 21% Gulf Oil of 28 Hackmeister Lind . Hecla Mining (40¢) Hudson Bay Min. . Hygrade Food. .. Imp Oil of Can 50c. | Insuil Inv Intercont Pete. Int Petrol (1)..... Int Superpower (1) Int Util B 5 20s ving Air Ch (50c) 2 Petroleum. . 28 24% | Lefcourt Rit 5 | Leh Coal & > % 104 | ok FINANCI Direct to The Star Office. Stock and Sale— Dividend Rate. Add 00. High. Low. Close. Louisiana L & Ex_ McCord Radiat B Magdalena Syn Margay. Mavis Bottling A Mexico-Ohio Til Mid West Util b8 Mo Kans Pipe L. Mountain Prod 80. Natl Aviation. .. Nat Dairy Prod A (i Natl Investors. tS T Sec A th0c New Jersey Zin New Mex & A Lnd. N'Y Shipbuild. . N Y Steam (2.60). . Niagara H Pw (40c) Niag H Pw A wr. Niag H Pw B wr Niag Sh Md (20¢) Nitrate Chile B. . North Europ Of1. .. North Sta Pw A (8) 20s | Ohio Brass B (2) Tacif Tin (speh) . Pandem Oil. Paramount Motors Pennroad (40c) Philip Morris. Phoenix Sec. . Pioneer Gold (12¢). Plymouth Oil k25c. Pub Util Hidwar. . Pub Util Hid x w. . Pub Ut Hold cm pf. Quincy Mining. 2 Raliway & Lt Sec 2 100s 165 Reliable Stores A TN | Reliance Int B, 1 % Republic . 10 ~ Roan Antelope. 10 5 nd L&P S0c. 3 10 velt Field 2 1% 801 11% 1 FeaanaBeDee * sae aw 4 oS mmnm o @ * 10 6 1 1w 2 38 1 . 3 cur Allied (1). lected Ind elec Ind al ct lec Ind pr (5'%%). . Silica Gel ct Singer Mfg ( 2 South Penn Oil (1), ou Cal Sou Cal Ed pf C 1% tand Motors. ..... tand Oil Ind (1) tand Oil Ky(1.60). 1 Stand Oil Ohio pf 5. 20s Stand Silver & Ld.. 20 Starrett Corp. ... Stutz Motor Car Sunray Oil A Swift & Co (2). Swift Intl (14). Sylv Gold M Litd 4c Tampa Elec 2.24. Tastyeast. . 3 Tech Hughes (§0c) Tobacco Prod Del. . Trans Air Trans Trans Lux DL P Triplex Sfty Glass. Tubize Chatel B. .. Tung Sol Lamp (1) Un Gas of Canada. . United Corp war. United Founder: United Gas. ... | United Gas war. ... | United Gas pf (7). United L&P A (1).. United L&P pf (6). U S Elec Pw ww U S Foil Co B(30c). U S & Intl Sec. . U S & Intl 1st pf. United Verde Ex Utah Apex...... Util P&L (b10%) . . Util P&L B ct b10% Utility Equities. .. Util& Indpfitg. .. Van Camp Pack Venezuela Pete. ... Vick Financ (30c) . Waitt & B A (2 Walker (H) 25c.... West Alr Express. . Wiwrth Ltd 23 3-5¢. “Y" 0l &G Dividend rates quarterly or semi-annual payment. *Ex Gividend. 1Partly extra. (Plus 4% in stock Ill’lylbll in cash or stock. | stock. e Adjustment dividend. | in stock. gPlus 6% in stock. in stock. jPlus 2% in stock. in stock m Plus 3% in stock. n Plus 8% p Paid last year—no regular rate. 80 3 oo e BRSNS R Y a1 S e Sene®m Srowwemrmon @ Zecxr pne E2 6 9% % h Plus 1% Grain Market By the Associated Press. CHICAGO, February 26.—Wheat prices averaged higher early today, in- fluenced by reports that Russia had practically stopped exporting wheat, and was shipping grain into famine- stricken home districts. There were also advices that Russia had expressed dis- satisfaction with Japanese activities rel- ative to Manchuria. Opening !4-14 off to 'y up, wheat afterward rose all around. Corn started unchanged to 'y down and subsequently hardened. Commission houses were active buy- ers of wheat futures here, and Liver- poo! reported demand for wheat abroad well sustained despite large receipts in Great Britain. Bulls contended that strong underlying conditions of the werld situation as to wheat had be- come decidedly more pronounced of late. An almost complete reversal of | foreign advices about crop prospects was instanced, and it was asserted that there were striking indications of a constantly improving overseas demand. Large export purchases of Canadian wheat last night were noted, and Win- nipeg messages said millers and ex- porters were doing a gcod business daily. A reason given was rapid di- minishing of the wheat surplus in Au- stralie and the poor condition of India’s growing crops. In some quarters bul- { lish construction was put upcn reports | that American, British and French Am- dors were Insisting no more Jap- anesc troops be landed at the Shanghai International Settlement and that Jap- anese warships' Corn and oats moved up with wheat and a result of scantiness of rural offerings of corn. in hog values and cereals. E A recent census in Scotland shows that 38.6 per cent of its population lives in four cities, and 69.4 per cent is urban. 59 Yesterday ... Previous day. Week ago. Month ago... 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 2 Nippon EI P 635 '53 5134 1Rio de Jan 6'as '50 West Un 65 36 Wh Sew Mch 6540 Wis Cent gen 4536, Yokohama 6s '61 Ygstn S&T 55 B" 10 Saxon Pub WK 5s 32 3 3 Stinnes 75 '46 xw 1 Terni Soc 6'2s A ' ww—With ®arrants. xw—_Without wa. n—New. wi issued. Low, 1932 High, 1931 Low, 1931 High, 1930 Low, 1930 position be _altered. | Prcvisions were responsive to upturns | Industrials. New York Cotton Special Dispatch to The Star. NEW YORK, February 26.—Open- ing cotton prices today were 2 to 3 points higher. Trading was active. The rise reflected foreign buying incidental to overnight strength at Liverpool and Alexandria. Shorts showed,no inclina- tion to press offerings. Opening prices were: March, 7.00, up 3; May, 7.16, up 2; July, 7.32, up 3; October, 7.52, up 2; December, 7.69, up | 2, and January, 7.76, up 2. Movies in Railway Station. Special moving picture theaters are being installed at the Gare St. Lazarre, who have to wait for trains. One has shortly. The program is continuous and consists mainly of newsreels and short comics. The admission price is low so that those who have only a few min- utes to wait will be tempted to pass the time at the movies. INSURANCE STOCKS NEW YORK. February 26 (#).—Over- the-counter market: Aetna Cas & S...... Bostor City of N Y ea Life . Fid & Dep. Firem-n's Ins Glen Falis .. Globe & Rut Great Amer N Home Ins Kansas City Mass Bond Natl Fire Phoenix Prov Wash .. St Paul Fire . Sun Life Travelers STOCK AND BOND AVERAGES By the Assoclated Press. STOCKS. 20 Rails, 31.6 34.9 36.4 20 Utilities. 103.5 103.8 106.1 (Copyright, 1982, Standard Btatistics Co.) in dollars based on last | b Payable in {Plus 5% k Plus 10% in in Paris, for the benefit of passengers | Jjust been opened and others will follow | "« Money p % 00K *xx A—15 N. Y. CURB MARKET | CHANGES ON CURB INNARROW LIMITS Utilities Again Featured, With Volume of Trading Remaining Small. BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, February 26.—The Curb Exchange opened firmly today, receded fractionally in the first hour and then recovered, without bringing about any noticeable increase in the volume of trading’ Electric Bond & Share was virtually unchanged, which was true also of Cities Service and Standard Oil of In- dlana. Niagara Hudson Power, Bra- zillan Traction, Pennroad Corporation, Middle West Utilities, Utilities Power & Light and American Ges & Electric were fractionally lower. Earning reports by public utdlities somewhat offset the weekly electricity output statistics, which registered a record low amount for the period since the depression began. Part of this de- cline doubtiess was due to Monday's holiday and part to the fact that many induetries are preparing to increase schedules but have not yet done so. The steel industry is an example of a trade on the verge of speeding up production. Makers of Ford parts and accessories in Toledo today began mak- ing large shipments to Ford assembly plants, but a survey of steel trade offi- cials here revealed that Ford has placed relatively few steel orders yet. Such orders are expected to ba placed within the next ‘wo weeks, which would mean increased steel production and consé- | quently greater use of electricity by that industry. New York Steam Corporation re- sponded fractionally to its 1931 income statement showing $3.83 a share on the common against $2.94 in 1930. The profits of Niagara Hudson Power Cor- poration also were better than antici- pated, approximating 51 cents a share against 60 cents in 1930. Niagara Hud- son has called a special shareholders’ meeting for April 12 to vote on & pro- posal to reduce the amount of capital outstanding by exchanging three pres- ent shares for one new share. ‘Thinness of bids for public utility pre- ferred issues during the forenoon was illustrated by a drop of more than 15 points in Carolina Power & Light $7 preferred stock. Columbia Gas & Elec- tric preferred during that period recove ered a point. l’Glel’l pAlden Coal was the weakest is- sue in the fuel group, so far as junior shares are concerned. It was exceeded onlv in the senior issue group, where Standard Oil of Ohio broke 4 points. Parke, Davis & Co. failed to forecast the declaration of an extra dividend of 10 cents and the usual common quar- terly of 25 cents. Strength of Todd Shipyards in recent sessions pointed to the maintenance of the regular common quarterly dividend of 50 cents, which was ordered today. New Jersey Zinc opened off a point. Roan Antelope was up a shade, but most of the coppers inclined to heaviness as the trade expressed the belief that low- ered red-metal quotations might arrive before prices moved upward. This was followed by the announcement of re- duced prices on copper and brass prod= ucts. An advance of 10 per cent in win- dow glass prices was one of the more constructive developments in manufac- turing circles. |STEAMBOAT LINE FILES BANKRUPTCY PETITION Special Dispatch to The Star. BALTIMORE. February 26.— The Baltimore & Virginia Steamboat Co. has filed a voluntary petition in bank- ruptcy in the United States District Court. James U. Dennis, attorney, was a pointed recelver for the company by Willis E. Myers, referee, who set bond at $5,000. The concern. which operates five ves- sels from Baltimore to Norfolk, Wash= ington. Fredericksburg, Va.: Cambridge and Crisfield, Md., was founded in 1923 after the foreclosure of the Maryland, Delaware & Virginia Railroad Co. Among the services of the company have been its three-day boat trips be- tween Baltimore and Washington in the Summer, conducted by the Pennsylvania Railroad. The steamboat company will cease operations Monday, according to C. R. Seeley, supervising agent. He said Mr. Dennis had issued a statement that the company was un- able to meet its operating expenses because of the competition of trucks, busses and individually owned small boats. The statement pointed out that improved highways now run to all the places toucked by the line. The action was decided on at a board of directors’ meeting in Philadelphia February 10. The emntire stock of the company is owned by the Pennsylvania Railroad, according_to_Mr. Seeley. ENTERPRISE SERIAL EUILDING ASSOCIATION 7th and Indiana Ave. N.W. | LOANS | On improved District of || Columbia Real Estate Security 67th Series of stock now open for subscription | B ames E. Connenly, { President James F. 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