Evening Star Newspaper, March 1, 1932, Page 15

FINANCIAL BOND PRICES GAIN INDRAGEY TRADING, Japanese Issues Sell Off as Hope of Early Truce Subsides. BY F. H. RICHARDSON. Bpecial Dispatch to The Btar. NEW YORK, March 1.—Bond prices ursued a slow upward coursé today | n every instance save Japanese obli- gations. Trading was dull, however, and the strength was due more to a Jack of offerings than to any tendency to bid heavily for bonds. The market opened with a steady tone. Traders were encouraged by the firmness of the market in the face of developments in the Far East, where hopes of an early truce were not realized, Japanese government bonds dropped 1 to 2 points, thus losing about half of the gains established on Monday. Virtually every forelgn dollar bond, apart from the Japanese descriptions, was higher on the day. Belgian 6s, or- dinarily a slow moving issue, rose 34 point between sales. There were gains of a point or m in Austrian 7s, Poland 8s and t various German municipal bonds. German Young plan 6':s and reparations 78 were fractionall r. Australians moved up a point Americans were mostly h! jan exchange was firm X adian bonds. A $5,000,000 issue of the Province of Al berta wa subscribed United States Government bonds con- tinued their rise for the fifteenth suc- cessive day. The active Treasuries and Liberties gained '« fo over i point. The Federal Intermediate Credit Banks offered $25,000.000 of 4% per cent de- bentures due in 3 and 4 months at par. This compared with a rate of 5 perlg cent on the last issue and about repre- sents the recent improvement in the high-grade market. Secretary of the Treasury Mills announced that $100,- 000,000 of 91-day Treasury bills had been tendered to the aggregate of $292,984,000, of which $101.412,000 were accepted on & 2!, per cent basis. Thus there was reason for belleving that the New York Federal Reserve Bank this week will cut its rediscount rate again. In Londcn, the Bank of England rate is reported to be entirely out of line with the market and is ex- pected to be reduced again. Since lower money rates will have a beneficial effect on bcnds, there was some quiet accumulation going on in junior industrial an drailroad bonds. ere Marquette 5s, for instance, gained a point. There were smaller rises in Mobile & Ohlo 55 and Nickel Plate 6s. - National Steel 5¢, International Match 8s and the New York City traction obli- gations were firm. Prime corporation bonds were also higher, though the ins were not so large. Atchison gen- eral 4s equaled Monday's best price. SR Dividend Payments Drop. ¢ NEW YORK, March 1 (#).—Decreased * earnings were responsible for a consid- erable drop in corporate dividend dis- » bursements in Februery. The total of payments ordered by 792 corporations « is estimated at $374,032,531, compared with $468,257,250 for 872 companies in the same month last year. s Copper Price Drops. NEW YORK, March 1 (#).—Copper for export dsopped to 57 a pound to- day, fcliowing the reduction yesterday of domestic shipments to 5%, the lowest price at which the metal Was ever avaflable from first hAnds. The previous export rate had been €'y & pound. . POTATO HABKET', CHICAGO. March 1 (® (United Btates Department of Agriculture) — Potatoes—Receipts, 120 cars; on track, 200 cars: total United States shpiments, 945 cars. Slightly weaker on Idaho Russets: dull on cther stock: trading slow, Sacked, per = hyndredyeight: ‘Wisconsin ‘Round Whites,»Na, ‘1, 75a80: unclassified. 67'.a70; Michigan Russet Rurals, 75280 Minnesota Early Ohios, 1.00a1.05; Idaho Russets, No. 1, 1.30a 1.40, few 145a1.50. Washington Stock Exchange SALES Washington Gas 65 “B"—$1,000 at | 1031, i Potomac Electric 5': % pfd.—10 at 104. | Washington G Light Co.—10 at 90. Lanston at 63 ‘Washing! & Electric at 21 Bid and Asked Prices. BONDS. PUBLIC UTILITY, prd.—! Bid. Asked i 7 age STOCKS. UTILITY. American Corcoran ¢ MISCELLANEOUS. Barber & Ross. Inc Col. Med.cal B D C. Paper M Nati com Sec SEx-dividend BBooks ciosed. F)o: extra. el extra. Private Wire UNITED STATES. (Sales are in $1.000.) Sales. High. Low. 2:58. 1ib315532-47..190 9820 989 6810, L Ist 438 32-47 538 100 8 9927 9927 38694 100 12 1003 1006 78 38 51-55 45 90 8916 £920 US3ks'49....264 91 9024 9024 US23%sM41-3 605 95 9426 9426 US3%sJT40-3, 47 95 9426 94 26 US3I%s4 <. B9 94 94 944 US3% 46-36... 29 978 9630 9630 L258 100 5 9930 9930 ..130 103 4 102 28 102 30 High. Low. 2:53. 384 38 81% S1% 32 28 27T% 85 ! Recelved by Am Metal 5% o AmN Gas 6148’42, Am S&R I8t 5847, Am Sug Ref 68 Am T&T cv 4% gan 90 100 100t 1084 10315 9Ty 97Ty 99 9913 97k 9T 1034 103t T TTH 53% 53N 58% 581 58% 59 58% Gtk Am Wat Wks 6s Argentine ‘62, Argentine May '61. Argentine 68 Ju'sd. Argentine 6s Oc'5l. i Argentine s A %7, Argentine 6s B58. Arm Del 5.5 43 Assoc O11 6835, ... Atchison adj 45 '95, | Atehison gn 4895, | atchiscy 414848, . At Fa lonmananaanean - 9 56 55 90 451 8214 8315 53 9N 68 67 T 7614 55 61 18% 25 £0 881 941, 100% 1014 1001 1001 25 | Australia i’ Austria 7s'43 Aust B&O4s'18. B&O 4% B&Ocv4 B B rots P 4 - BoRlawmaSwwn-NB8a o225 5% 61 13 28 80 88Y 9415 100 100% 100 100% Ban & Aroos 4s'51. B of Chile 614’57, Bk Chile 63,5 61... Batav Pet 4345 '42. Belglum 68°55. ... Belglum 6145 49 Belgium 78 '53. . Belgium Bell Tel Pa Bell Tell Pa &5 Berlin Cy El 68 Berlin CE 6% Beth Stl pm 68 '3 Beth St1rf 58 '42. Bos & Me &s Brazil 6155 Brazil 8s '41. Bremen Ts Bk Ed gn A 6s . Bklyn Elevfige. RKIyn Man 6s ‘68 Bkiyn Un o8 '43 BKlyn Un 18t ] Buenos A 8s'61 Pv. Buff Gen El 4 31 BR& tts 416857 Bush T Bidg 55'60. Calif Packing 58'40 Canada 45°60. .. Canada 4% '36. Canada s ‘52 Can Nat 4158 S | Can Nat Ry 4%s'56. 998, 32y R8 1611 101 951 96 a3 9215 wwwn o e FHD BN AR MR A TNANNN NS AN~ 90 DA 00T AN TN NSO Can Nor Tt db *40 Can Pac db 4s. Can Pac 41 Can Pac Bonnni Cent TI'G&E 68'51. "o C&Ogen 43802 €hi & Alt 2s CB&Qgnis CB&QHis" CHEQIN A Chi & Est Il 55 Chi Grt West 4850, Chi M & 8t P 45'89. Ohi M & StP 4% C CM&ESt PA%S'89. . C M StP&P C M & 8t P adj 5s. Chi&NW 432= 2037, C&NW 415 C 2037, Chi & ChI&NW rf # 2937 CHI&NW 614528, Chi RI&T ¥f 4s . ChiRTev4ls'60, © TH&SFE in 5860, if ta 58 B'63 . ChiUn Sta §1£5'63. = C& W Ind cn 48’52, C & W Ind | Chileox Chile 7842, . le Cop ab 5 Colomb 6261 Oot. Colon Ol 68 *38. Colo & Sou 4% Col G&E s Ma: Col G&T cou 5 om Inves 5 €€ Md 1st rf 104 50 56% 50 6% 65 24 21 1% 6314 80 3 48 9074 9R1x 83 0304 B Copenh Denn D&T DR salvador 85 ‘4R, . rie 15t con 4s ‘46 m1D7is"s rench 7s'49 French 7%s'41. clsenk’hen 6 n Bank cv 6845 o0d 18t 8358 " oodyr Rul andTr sf db 65'3 rand Trunk 7" rt Nor 4148 rt Nor ; F Nor gn'75'36. . ud & M adj mble Ol 55 Humble O 53 Hungary 73 9By 70% Tl 948 591 60 97 87 10015 10014 45 45 99% 51 451 1001, 45 100 111 Bell Tell 55 '56. . ) b2 ent 4s " 171 Cent 48 111 Cent rf 45 1l Cent 43 111 ¢ 111 111 CC8 Inland St 4125 A'78 Inland St 4%.s W81 P Tris'66. . Int & Gr 3 Int Hydro El 65 44. Int M Co 58 ret '41. Int Match s '47 Int MM col tr'§ Direct to The Star Office Sale Int Pap 6s A "47. Int Pap 68 '55 Int Ry C A 5s IntT&T d%s Int T&T ov 4 IntT&T 5855 Irish Free 8t s Italy 7s'51.. Italy Pub 8 78 G Japanese 5145’6 Japanese 6% '54. Kan C FtS&M 45 '36 Kan City Sou 3='50, Kan G&E 434880 Karstadt 68°43 Kend 5135 48 wv. . Kreug & Toll 65'59. LacGStLbs's.. Laclede 5348 C'53 Lautaro Nit 6; Leh Val cv 4s Loew's Lorillard 13 s'39. 11 Manh Market Mars Midvale Stl 5 Mo P'ac s Mo Pac rf 5581 Mo PPasilis A4 Molile-Ohio 55 ‘38 Mont Pow 55 '43 Monte Montevidec Mor&Co 1st 4% Nw S Wales N Y Cent 4 NYCrf4k N0 Am Co 55 Nor Am Ed 5 Nor Am J Nor Pac is Nor Pa Norway s’ Norway 5 Norwa Oreg-Wash 4s'61., Orlent Dev 5 %568, Orient Dev 68 '53.. Pac Pac T&T 18t 68 " Pac T&T rf b Paramount 65 '47. . Paris-Ly M 6x ‘58 Paris-Ly M 7 '58 Pars-Or 514868 . Penn 4% & D81, Penn cv 434860 Penn 41870, Venn 4%« 63, Penn 5564 . Penn gen 55 '68. .. Penn 618 '36. Venn P&L 4348 ‘81, Peor & B 1t 45 '40. Pere Mar 435 '60. Pere Peru 6s'60. Peru 6s'61... Phila Co 58 ‘87 PhiIA Plee4s *71 .0 Phila & Read 6s '49 Phillip Pet 5%5'3% Piilsh F M 6543 PCC&SE L | P& w Vs Poland 78 '47. | Poland Tort Gn | Porto Alog Pos Tel & C Prussia 6s Public Sery 4s Pure Oil3%s nd 6s'47.. ine West 6s ine West 6 e Wes 5 o0 de Jan 648" Jan ir Do Su Gr Do Sul 85°18. 0 Gr W 1st 45’39 SIL IM RRG 4s'33. 2 SFin4s A 50 3% 73, 39 Suo Pav Saxon I' W 613 Shell Un O] 58°* hell Un Of Third Av adj is ‘60 ‘Loho K} Pw s '32, Tokio EI Lt 63 Tn Pac 18t 48"47.. U'nPac4s'ss.... Un Pac rf 43 3008, Un Pac 414861, 1t Drg o 1St W 61km A51. ruruay Uah P& L Utl Pw 5558 w Uttl Pow 5128'47... Vienna 6s 52 1 t USSR Un CBlok AT, 1 1 Va Ry & Pw 53 '34. Va Ry 1st 58°'62... Wabash 1st 55 '39 Wabash 2d 58'39.... sh 65 B'16 ‘Warn Br Pic 68’ { | ON NEW YORK‘BONDS STOCK EXCHANGE l 85 35% 7015 47 13 | nomics, | higher freight rates. l'and poultry products, | horns was advanced cne-quarter cent as | Am | British | Find Tr 8hrs A | Trustee S "ASHINGTON PRODUCE MARKET SLIGHTLY FIRMER Price Gains Are Few, but More Confident Tone Is Noted. The month begins with a slightly more confident tone in several lines of farm products, but with few price gains, says the United State Department of Agriculture, Bureau of Agricultural Eco- Market News Service. Wheat actually declined because of recent heavy shipments in advance of the Cotton, live stock also hay and| feeds, followed a fairly steady trend. Butter markets showed slightly upward tendencies. Apples, onions and cabbage made small gains. Potato Market Irregular. The potato markets continue irregular without any definite trend. Free on board prices in Western New York were slightly stronger at 60 to 67 cents per 100 pounds of sacked round whites, and Northern Maine' held steady on Green Mountains at 38 cents. The Michigan market was weaker at 53 to 55 cents, but Wisconsin was about steady at 55 to 58 cents. Nearly all lines of sweet potatoes held steady in terminal markets, but a slight downward tendency was observed for New Jersey stock and for Tennessec Nancy Halls. ‘Western New York old cabbage was firm at $12 per ton, bulk, but sacked stock was weaker at $12 to $15 per ton. City cabbage markets held about steady. Best yellow onions advanced in Western New York to $2.35 to $2.50 per 50-pound sack. Domestic onions sold mostly higher in city markets. Old-crop car- rots in Western New York sold consid- erably iiigher at $2.60 to $2.75 per 100- pound sack. Caulifiower declined rather sharply in Southern California. ‘Baldwin apples ranged stronger at 85 to 95 cents per bushel tub in Western New York. The strawberry season around Plant City, Fla., is expected to close earlier than usual, and prices to growers advanced. Butter Prices Advanced. Butter markets began the month ‘in a fairly steady to firm position, after the preceding advances of a quarter cent at Chicago and one-half cent at three Eastern markets. Some buyers were roluctant to follow what appeared | to them too rapid advance. The under- tone still appeared nervous and unset- tied. During February, judging from the material available, the production has been about on a par with January. Retail trade is reported unsatisfactory in spite of the fact that prices to con- sumers are the lowest in years. Cheese markets in the principal cen- ters of distribution continued steady in 1at> February, although there was some price shading on Single Daisies in Phil- adelphia. In Chicago, however, the in- sice price on Single Daisies and Long- a result of the continued active demand for that class of goods. ‘Trading, as & whole, showed some further improve- ment and dealers in severel quarters experienced some difficulty in supplying their wants of Western cheese. Several of the large chain stores in the East continue to retail cheese at 19 cents a pound. Canadian cheese markets were fractionally higher. Egg Buying Lags. The most disappointing feature of the February developments in the egg mar- ket was the failure of the consuming demand t» show the improvement that the wholesale and retail prices were expected to bring. . INVESTMENT TRUSTS NEW YORK, March 1 (#).—(Over- the-counter markst): Bid. Asked. A B C Tr Bhrs “E' A% Am & Gen Bec “A” Am & Gen Sec B Am & Gen Bec $3 Br & Con 6% Comp Tr Shrs drs 6% D i Bt Al Sec_war Atl & Pac Int i Al & Pac com ww & Pac pf war....l Rancamerica Blair ... Nat Nat Corp “A'. 1 Nat Corp *B Tr_ shrs > Equities Cumulat Corp Corpor im & Port Ins 79l s B shrs HOY. 5, TBhra A jiversified Td D Equity Trust Shis . Five-Year Fixed Tr Fixed Trust Sh A Fixed Trust 8h B’ d Tr Shis B Fun: pors 3 Nor Am Tr Sh Nor Am Ti Sh Nor Am Tr Sh I Norinern Secur ©Oil Shares units Old Col Inv Tt Qld Col Tr. Assoc P:lrol Trad A Berv Tr Zaper ol Am Super of Am 1 Bhr 8t ustee 8 Trustesd iste Wst Sh 18t 4s West B1db 5 West Md 4 West Md 5 West Pac 5846 West Union 55 '60.. West Un 6%s'36 WEOS5%s"37 w Yokohama 65 '61. .. Ygstn S&T 5s A'78. 813% Ygstn S&T s B'70. D. C, TUE CURB ISSUES MOVE | IN NARROW RANGE Slow Trading Continues, With Price Fluctuations in Small Limits. BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, March 1.— After open- ing irregulagly today, curb exchange shares rallied slightly, but trading was much slower than in the preceding session. Electric Bond & Share was un- changed at midday after being a small fraction higher in the first hour. Cities Service eased. Middle West utilities reached a new minimum mark, along with Lone Star Gas, Hydroelectric Se- curities, and Buckeye Pipe Line. The moderate upturn in shares in London, because of the buying of oil and mine shares by Paris, was not mirrored on the curb. In fact one of the features of the forcnoon sessicn was the small volume low-priced shares. With the increase in the State stock Tansfer tax, effective today, it was cheap- er—when minimum commissions are considered—to hold low-priced shares than it was to sell them. Lone Star Gas struck a new low as the Oklahoma Corporation Commission indicated dissatisfaction with rates being charged by the company’s sub- sidiaries and intimated that Lone Star’s rate schedule would be revised down- ward. Buckeye Pipe Line was the widest mover in its division, breaking 1'g points. Northern Pipe Line firmed, but Missouri-Kansas Pipe Line eased and New York Transit was unchanged. Grain Market By the Assoclated Press. CHICAGO, March 1.—Grain prices averaged lower early today, influenced by heavy deliveries of March wheat contracts and by expected bearish esti- mates of domestic reserve stocks on farms. There were also reports that although a cold w was sweeping Europ, crops abroad were mostly pro- tected by sno Starting 15-% decline, Chicago wheat | futures afterward held near the initial figures. Corn opened unchanged to 3 off and subsequently was seady. The average of the unofficial estimates of farm reserve stocks of wheat was | fully as bearish as had been looked for, 170,000,000 bushels, compared with 160.- 000,000 reported a year 2go. The con- dition of Winter wheat was figured at 815 per cent against 79.4 in December and 87.5 on March 1, last year. Wheat in country mills and elevatcrs was esti- mated es 79,000.000 bushels and the amount fed to live stock up to March 1, was put at 137.000,000 bus against 105,000,000 the year previous. ‘Wheat values continued to sag after the crop experts figures were issued, and the market soon went about 1 cent under yesterday's finish. Corn, how- ever, developed relative firmness, al- though the average estimate of stocks of corn on farms was 1,070,000,000 bushel:, compared with 709,000,000 bushels reported a year ago. Apparent- 1y, corn traders, who were short of the rket took advantege of the favorable opvertunity to buy. Oats followed corn. Provisions were neglected. BONDS ON THE CURB MARKET. Sales in thousands, 1 Aluminum Cg Ss '52 1Am Coiwil Bw 85 40 1Amer G & Pow 6 ‘39 Amer P & L 65 2018. ApPajuch Gas 65 43 4 Appalzc Ges 63 B ‘45 1 Avpalach Pow 33 "38, DOMESTIC BONDS. High A As Tel Util 8125 44 C Baldwin Loca 5as "33 eacon Oil 65 '36. ... Bell Tel Can 55 A '3 Bell Tel Gan bs G 80 ont Pub Ber 512 ent St P&L b'a it Se 8 Cleve Ele 83 1 Comwin kd 4125 E 5 Comvw:in Edls 45 Sommuni. P&L P &L e Lyt 5l deral Wat 5 o 1 Hilinois & 1 Indnap nt P 1Ne5 Pow 6x 1 Nevada Calif 8 v Ene G&E 55 Fi 55 F aam 41,5 47 5 Standazd P NI & lscon P&L fs F 'S8 831z FOREIGN BONDS. Tige 41 851 32 3 Nippon El 1 Santiago Chile 7s 12 Saxon Pyb Wk 5¢ '3 4 Stinnes Ts " 12 Stinnes 7s 1 Terni Soc B'ss A ' wa—With warraits xw—Without warrants. n—New. wi—When issued, DAY. MARCH 1, 1932 N. Y. CURB MARKET Received by Private Wire Direct to The Star Office. Stocks sold in 100-share lots designated by letter “s." Stock and Sale— excent those Dividend Rats. Add. 00. Tign. Low. Close | 80 48 53 80 48 53 25% Alabam Pw pf (6). 208 Aluminum of Amer 5008 Alum Co, Am pf(3). Am Cit P&L A (a3). 250 254 AmCitles P& L B 2% 24 Am Comwith Pw A. L Am Comwlith Pw B. " “ Am Corp i Am Cyanamid B... % 3% Am & For Pw war 4 Am Gas & El ($1). 34 Am Maracaiho. 3 M Am Superpower. . . 3% Am Super 1st pf(8) Arkansas Nat Gas, Appalach Gas wr.. 13 Arcturus Radio T.. Arkansas Nt Gs A. Asso El1Ind Ltd... Asso Gas & Elec. .. Asso G&EADLI%. Asso G & Ect (8).. 25: Atlas Utilitie Atlas Util wa Blue Rodge pf (a3) Brazil Tr L&P (1). Buckeye P L (4)... Burma Ltd ret(2¢) Table Radio Tube. . Carnation Co (1) Celanese pf (7). Celanese 1st pf. ... Cent 111 P 8 pt (6) . Cent Pb 8 A (b3%) Cent & Swn Ut b7 % Cent & Sw Ut pf (7) Cent States Elec Chain Stores Stk Citles Serv (g30c). Citfes Sve pt (§) Claude Neon Lts. Cley Elec Ilu 1.60. Col G & E v pf (5) 1308 Col Oil & Gas vte.. Col Pictures vte... 1 Comwth Edison (8) 3258102 Comwlith & Sou war 39 & Comunty Wat8ve. 2 1 Cons Gas Balt3.60. 2 634 Consol Oil Corp. 10 6 Cont Shares cv pf. 3508 2 Cont Shares pf B., 2258 24 Cooper ResspfA.. 1 T Cord Corp. ....... 54 Crocker Wheeler. .. an Tuban Tob vtc..... Cusi Mexicana Min 49 534 De Forest Radio Detroit Aircraft. .. Dow Chemical (2). Duquesne Ga Falcon Lead. st G & Fuel Sast Util Ass Eisler Elec Corp. . Elec Bond & 8 b6 % cB& S pf (6). . 1 Bond & Shnw.i. Pwr Asso (1). ¢ P & L op war. c Shareholding. Empire Pub Sve A, Ltd A 30c c deb rts. 333 Fanstel Prod A 1% Ford Motor Can A. Ford Motor C: Ford ¥ 3 M Ltd p 3 Theaters A Aviation Gen Theat Eq evpf. Glen Alden Coal(4) 8 10 r(pife) 1 44 1 A Coe. 20 2% Gt A& P Teapf (7) 508 115% 13% 24 —_— Flackmeister Lind. 4 Hall Lamp (30¢). Hecla Mining (40c) Hudson Bay Min. . Humble Oil (2 . Hydro Elec Secur. . Lpf(6). Indus Finance ctfs. 15 Insull Inv. Coa 21 Int Hy EI S e pf 3% 258 Int Petrol (1)..... 1 fety Raz (2) 1 iperpower (1) 2 Interst Pw Del pt 7 508 Italian Superpw A. 20 Johnson Motor. Knott Corp. 14% | Triplex Sfty Glass. g‘s | Tublze Chat 1 Stock and Sale - Dividend Rate. Add 00. High. Low. Close. Lack See (4) . 1 22 Lake Shore M (2).. | Lefeourt Rity 1.60. 5l Bl | Leh Coal & N (1) 104 Lone Star G n 88c.. (i Long 1=l Lt pf (7). 1108 98t 981 Magdalena Syn. ... 182 % '™ BAY. ... 1 6l 6in Mass Util ov pf 2% 258 19' 19% Mavis Bottling A.. 8 % ~ MidStaPetvteA.. 1 1 1 Mid West UtHI b8 % 41 34 2% Mo Kans Pipe L. 5 W U NatlAviation......_5 34 Nat Dairy Prod A (3 258 100 NatEIPwA180.. 2 8 Natl Fuel Gas (1), 1 12 Natl Pw&Lt pf (6) 50s Nat Pub S 34 100 127! 66 | 1™ 1 T Sec A $60c. 4 1 9! Natl Transit (1)... Newberry J J pfe7) 50 New Eng Pw nf (6) 508 New Mex & A Lnd. N ¥ Shipbutld. . N Y Steam (2.60) N Y Telpf (8%).. N Y Tran n (k10¢). agara H Pw(40c) 33 Niag Sh Md (20¢).. Nipissing. ... 3 North Europ Oil. " Northern Pipe Line 4 Novadel Agne (4). 3 34 Overseas Sec L ™ Pac G&E 15t pl 1% Y Pacifi West Oil. ! Pan Am Alrway 15 Parke Davis(t1.10) 50 Pennroad (40¢).. .. Phila Co new 11.60 Philip Morris.... P'hoenix See. . .e 3 er Gold (12e). 3 eGl(1).. 4 MR < ee F Prudential Inv. . 1 b 5% LS SO IR REE) T(oR100 195 98 Ttadio Prod. v 1 1| Reliance Manage.. 24 w1 Republic Ga s & Roan Antelo o 47 | Roosevelt Field St Anthony Gold. St Regis Paper. Secur Allied (1). | Segal Lock & Hrd.. 3 shenandoah Corp.. 1 Sherwin Willlams 4 258 3213 S1lica 1t 4 1 singer Mfg (8).... 108 124 124 SouCalEdpfB1ly 2 24% 2415 South Nat Gas..... 1 L3 L e 66% 66% 66% 4l 4R 1121 31| 6 | 3| " 50 18 1% 11 12 May Stern pt. stand Of1 Ind (1).. Stand Oil Ky (1.60). Stand Oil Ohio 2 and Silver & Ld. . tutz Motor Car. .. Swift Intl (14).. Taggart Corp. ... Tampa | Tastyeast. ., | Texon O11 & & | 5% | Tri-Cont Corp wr 1 1} 3 3 Y Ld (1). s of Canada. . “td Chem pt pf (2). “nited Founders. Inited Gas. Tnited Gas wa: ‘nited Gas pt (7) “nited L&P A (1), U'S Elec Pw ww. United Stores vte United Verde Ex 1. Utah Apex. . Util P&1, (b10% 14 Ut PeLBetb10% 1 8 Util P&L pt .. 1008 B0 Utility & Ind.. .. 1 Van Camp Pack. . Venezuela Pete Walker (H) Z5e Wenden Copper Woodley Petrol. Wiwrth Ltd 23 Ol & Gas. .. dend rates in dollars based on jast | quarterly or semi-aonnual_paymeat *Ex dlyidend. TPartly extra. I1Plus 4's in stock. aFayable in cagh or stock. stocx. ¢ Adjustmen. dividend. in stock. g Pl 8- in stock. in stock | Plus 32 in siock. in stcck m Plus 8¢ siock. P Peid last year—no regular rate. CORPORATION | REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, March 1.—The follow- ing is a summary of important corpora- tion news prepared by the Standard Statistics Co., Inc., New York, for the | Associated Press: News Trend. Automobile production in the week ended February 27 continued to decline | | stightiy. According to Cram’s auto- motive reports, output totaled 33,328 units, which compares with 33,764 units | in the previous week and 54,020 units in the like week of last year. The January net operating incomes of the first 60 railroads to report totaled $9.958,000, a decline of 66.9 per cent from January, 1931. This is consider- ably more unfavorable than the com | parative showing of these same roads in December, when net operating in- comes were off 448 per cent. The Companies. Amalgamated Leather Companies' | 1931 deficit $393,429, vs. deficit §1,111,382. Canadian Pacific Railway January net operating income off 25.6 per cent. General Theaters Equipment—Re- ceiver named for company by chancery court, Dover, Del, on application of | G. B. Affleck, a creditor; company ad- mitted insolvency and consented to ap- pointment of receiver. Long Island Railroad January net operating income off 46.3 per cent. McCrory Stores 1931 earnings $1.51 a common share, without deduction for Federal taxes, vs. $4.08, including de- duction for Federal taxes. Nationai Tea 1931 common share earnings 99 cents, vs. $1.71. Anchor Cap 1931 common share earn- ings $2.45, vs. $3.58. Chicago. Indianapolis & Loulsville Railway January net operating deficit $29.357, vs. net operating income $33.150. Gulf, Mobile & Northern Railroad STOCK AND BOND AVERAGES By the Associated Press. STOCKS. 50 Industrials, 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 30 .... Month ago Year ago..... Two years ago. Three years ago High, 1932. Low, 1932. High, 1931. Indusirials. January net operating deficit $38,839, Vs. net oparating income $32,493. Internaticnal Great Northern Rall- road January net operating deficit $63,400, vs. net operating deficit $38,081. | * Marlin-Rockweil Corporation 1931 [d(‘flclt $23,052, vs. net income $922,171, equel to $2.53 a common share. Nashville, Chattanooga & St. Louis Railway Janus r{ net operating deficit 159, vs. $42,282. Sears, Roebuck & Co.—Sales January 30 to February 25 off 16.5 per cent. Ohio Seamless Tube—Passed quar- terly dividend on preferred stock; paid $1.75 January 2, 1932. St. Louis Southwestern Railway— Jsnuary net oporation deficit. $66,008 ve. net operating deficit, $57,061. Western Maryland Railway—January net operating income off 32 per cent. Wisconsin Central Railway—January deficit. after charges, $376,763 vs. cefieit, $370,014. Bendix Aviatign—Declared 15 cents common dividend: formerly paid 25 cents quarterly. General Motors—February Buick ship- ments. 5.386 cars, vs. 6,365 in January and 7.907 in February, 1931. | Qeneral Theaters Equipment Con- | solidated—1931 net loss slightly under | $900,000; current labilities over $§24,- 1000,000; owes Chase National Bank $19,700.000. Melville Shoe 1931 common share earnings $2.10, vs. $3.24. New Haven Clock 1031 deficit $483,- 857, vs. deficit $350,904. New York Shipbuilding 1931 net in- come $1,205,159, equal to $1.84 per share of participating stock, vs. $1,527. New York Cotton Special Dispatch to The Star. NEW YORK, March 1.—Cotton prices | were 1 to 3 points lower at the open- |ing of the market today. Trading | was in small volume, with both forelgn demand and speculative buying at & | low ebb. | May opened at 6.96 off 2, July 7.12 off 2, October 7.32 off 3, December 7.50 | off 1 and January 7.56 off 1. 20 Utilities. 102.8 103.8 104.1 96.1 20 Rails, | mai | Total interest and rents ISAVINGS ‘ENEMIES LSTEDBY 04 Statistics Company Officid Makes Plea for Safeguard- ing of Funds. By the Associated Press. TORONTO, March 1.—Nine “publi enemies of savings” were enumerats by Laurence H. Sloan, vice presides cf Standard Statistics Co. of New Yor) in en address before the Canadial Club. Partly because of their own eflorti but more because of “bull luck,” tn | people of North America had a bett chance of working out for themselve an ultimate economic Utopia than ha any other people, Sloan said. Possibilities for future developmen of their physical resources and th enhancement of their economic welfan he added, “are so enormous as to b possibly, even beyond the conceptia of any of us here today.” He warned, however. that “the sane tity of savings” must be carefully safe guarded. “In the last two years we have see a threat against our savings structus which is certainly being valiantly me and which will just as certainly b ultimately crushed, but one the severil and vigorousness in which we mw try wiin all the prowess at our com mand to preven. ever occurring agai “Our savings structure in Nort America nas noi collapsea at any tim curing the last two ye#®s of business de pression; it s not going to collapse 3 any proximate future date. But it hs suifered a severe shock.” The “public enemies” of saving liste by Sloan were “The investment banking hous which has developed a sales techniq nl::: ls"!uplflt‘)r to its competency the matters of economic analysis an forecast. “The lack of a public defender f¢ bond and mortgage owners after the commitment has been made. “Those corporate jnanagements, al ways representing the enterprisers ¢ common stockholders, of course, whou overwhelmm!.mmpmlon for their ow situation leads them to pay themselve dangerously generous dividends in pe¢ riods of prbsperity. “The viewpoint which condones a pey manent debt. “The corporation which fails regu larly to render to its creditors an equity partners an adequate balanc sheet and income account, or whic :tndters a deceptive financial state ment. “Haphazardl; arranged maturit cates for funded debt. “Governments, national or loca which in times of peace assume debi beyond their capacity to pay. “Changing commodity price levels. “Artificial barriers which tend to rt strict the logical flow of goods and cap ital between continuous peoples, an therefore to restrict their busines ST. PAUL FIRE AND MARINE INSURANCE CO. of St. Paul, Minnesota On the 31st day of December, 10 feauifed undec Bection: 4] of 'the Gods | of Law for the District of Columbs. INCOME. Net premiums..... -...$12,650,561. Total 'interest and rents 1. 1AL Other INCOME .....vveeerrss 1354 Total ncome ... DIEBURSEMENTS. Net amount paid policy Lolders for losses........ All other disburzements . Bonds and stocks........ ... Cash In company's office. .. Deposits | Interest and accrued All other ascet 1ot wdmiiisd: IS ol Gross ass Deduct ass Total admitted assets LIABI .333.848,118.13 Net unpaid elaims . Total unearned pre 'M"'m 11,493, “ Differenc: tion rd actual values on stocks and bonds . | Othi linbilities . Capital paid up. . 4000, Surplus over all ‘ifal N 3 R i i e 13 N prENt S WHITTEN BURNG THE YEAR. trict of Total. umbis, 6.069.407.05 $30,472.16 014913 AL b1 &1 tiof and portation 200801717 Tornado, wins Storm and 5~ Clone 51, Sprinkler leal Riot, civil com- motion and ex- plosion s Al other ~Air- craft 3.8 $12,650.567.81 $47.430.37 C._F. CODERE, Vice President. ©. A. DOBDALL, Sectetary. Subscribed and sworn to before b this 20th day of January, 1938 ALEX LAWSON, (Beal) Notary Public. Notary Public. Ramsey County, Min: (My commission expires July 25, 19 WASHINGTON LOAN & TRUST 0., Asts. h and ¥ Streets N.W. ington, D. C. STATEMENT OF THE CONDITION oF Northwestern National Insurance Company of Milwaukee, Wisconsin | On the 315t day of December, 1931. s re- quired under Section 647 of ‘the Code of Law for the District of Columbia. INCOME. Net premiums . .710.077.63 '#87.129.01 125.271.69 Other income Total incom D';!U Net Soidbtaogt 150k AllL other diebursement Total disbursements...... $5,554,258 NeEkTe. o4 s810.778.59 amount D Real estate ... Mortzage loans on tate % Bonds and ‘stoc] Cash in company Deposits in banks Agents’ balances Interest and rents accrued All other asséts | 97.673.35 Gross ssets oo 81548444319 Dediict. assets n ted. 1.526.457.04 Total admitted assets ... .313,957.086.15 LIABILITTRS. Net unpald claims Total unearned pre Other Liabilities . tenee..-313.957.986.18 NET PREMIUMS WR! DURING Ty YEAR re . .tl.m. .38 339, i Sotor venic '513’ a “w Earthquake ki Tnland navi tion and trans- portation 5.748.93 b I 2.824.23 Riot, civil_ com: motion and ex- plosion . - L M. STUART, Secretary. Subscribed and sworn to before me this 1st day of Pebruary 1932 (Seal) HAROLD R. SHEETS. Notary Public. Notary Public Milwaukee . Wi, (My commission expires April 17, 1935.) JAMES W SRANNON. Man Woodward® Building. o T