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FINANCIAL, THE EVENING STAR, WASHINGTON, D. C., THURSDAY, MARCH 10, 1932. N. Y. CURB MARKET Received by Private Wire Direct fo The Star Office. FINANCIAL, CURB SHARES SLIP " BOND PRGES CAN | G- BONDS o= ] by Private Wire Ditost % The Star OB® New York Cotton INSURANCE " INLIGHTTURNOVER| - Government Issues Puts List Higher. BY F. H. RICHARDSON. Bpecial Dispatch to The Star. NEW YORK, March 10.—The bond market continued ifs upward course today in trading that was somewhat lighter than that of Wednesday. After opening with a firm tone, the market was pushed higher by heavy buying of United States Government bonds. The 11 active Liberty and ‘Treasury long term descriptions ad- vanced % to % point to new high prices for the year. The cut of a full point in the B: of England rate was b2- lieved in some quarters to be the pre- lude to a further reduction of the New York Federal Reserve rediscount rate, While this has alfeady been discounted by the market, the evidence that the authorities here and in England are promoting a cheap money policy was construed as a reason for marking up nearly all high grade obligations. The advance, which at first was most effective in junior bonds, carried up prime corporation bonds, such as Atchison General 4s, Norfolk & West- ern 4s, Chicago, Burlington & Quiney General 4s, Duquesne Light 4'.8s, Phila- delphia Co, 5s, American Telephone 58 and Consolidated Gas 5! ‘The group next in quality. including such as Co- Jumbia Gas & Electric 5s, International Cement 5s, Dodge Brothers 6s and Can- adian Rallroad bonds, also attained new tops on the recovery. UNITED Bales. High. £32-47.. 34 995 Liist 4% s82-47 48 L 4th 41; 8 33-38 588 Heavy Purchases of U. §. 8 Abitibi P&P 5863, Ab& S48 4d. .. Adams Exp 48 '48.. 2 | Atleghany Cp 6844 8 Alleghany 68 '50. . Allis-Chalm 37, Am Beet Sug 6s'35. Am Chain 85 ‘23 AmF P s 2030, Am G Chb%s 49, Am Intl 535549 Am Metal 534534, Gas 6155 42, R 1st 55 '47. Am Sug Ref 88'37, AmT&T bs 65 Am T&T ¢ tr bs AmT&T 58 8160 Am T&T 5%s 43 Am W Wk {Am Wat W Argentine 5 Argentine Ma; . Argentine 6s Ju'59. Argentine 65 O¢'39. 11 Afgentine 68 A '57. 25 Argentine Assoc Of1 6835, Atchisgon gn 48 ‘95, Atchisev 4ies‘48.. 12 In the second-grade rails there were | Australia 4%8°66 a few soft spots, such as Pere Mar- | Australia 5s'55. quette 55 and Alleghany Corporation 58, | Australia 5s '57. but the general trend was higher. | Austria 7s'43, Nickel Plate 6s ran up spectacularly to | Austri; level about 60 points above their bear x.rmrket low of p]a.st December. 1n- dustrials were firm, notably Texas Cor- poration 5§ and Armour of Dels< ware 51¢s. 57 B&O4s’4l B&O04%s'3. B&Ocvilh B&O1sts B f &0 In the foreign department German |g &6 g rf government issues were subjected éo some profit-taking after a three-day ad- B B &0 Toleds 48'59 1 vance, but prices still clung Within &gy of Onile 634’67, 1 int of their recent top with good By g still coming from abroad. Brit- ish 5',s were firm, reflecting adjust- ment of the Bank of England rate to & Jevel nearer the money market. 5 Bk Chile 6% 5°61 [1 Belgfum 6865 Be'gium 6145 ‘49 Belgium 78 °'56 Belgium 7s '56 Canadian funds were quoted at & NeW | po)| Ta] Pa 5s B'48, 28 top on the tecovery and this resulted | Beil Tei on 56 C'80 & in good buying of Oanadian govern- teed obligations of the Canadian Na- Bérlin C¥ EI 66. 1 ment bonds and government-guarans | pesn sel pm 68 ‘86, 12 v & tional Rallways. Canddian Pacific for permission to isstie the reason for slight heaviness in Ca- Bolivia 75 '68. .. Application of the | Bojjvia 88 ‘47, Bordeaux 6s additional consolidated debentures Was | Brasil 6148 '26 2 ~ Dadian Pacific perpetual 4s and 5s of 1954. In the South American group, Go- lombian government and state bonds - were lower because of the decision of Brazi] 63 Brazil 1s Brazil 8s Bremen 7s Bk Ed gn A b: Bkiyn Man 68 '68 Cundin-Marca to place the state’s pub- | Bkiyn Un 1st 55’ lic debt in last place in the ordef of | Budapest 6s ‘62. yments. Wall Street £ feels | Buenos A 65'61 Py. bia will shortly declare & | BR & Pitts 4348 d genetal moratorium on external debts. | Bush Ter con 68'55. 2 Japanese issues were little changed. PARIS BOURSE PRICES. PARIS. March 10 (#).—Three per ~. ¢ént rentes 79 francs 20 centimes. Five per cent loan 101 francs 15 centimes. Exchangé on London 93 francs 30;/, . Ccentimes. The dollar was quoted at franés 41 centimes. EGGS 1 CENT EACH. CHICAGO, March 10 (Special) —Mid- dle Western division of Great Atlantic & Pacific Tea Co. is selling eggs at 1 : cent each during the current week. «¢ Last week these No. 1 grade A eggs sold at 17 cénts a dozen with the ex- ¢eption of Friday and Saturday when they were marked down to 15 cents. Interest Rates Reduced. NEW YORK, March 10 (#).—What is expected to be a general movement among New York savings banks to re- @uce their annual interest rates has been initiated by two institutions. One loweted the rate from 4 per cent to 81, per cent and thé other from 44 per cent to 4 per cent. Washington Stock Exchange. Washington Gas 6s “A"—$500 at 100. AFTER CALL. Potomac Eleetric Cons. 55—8$1,000 at 10015, $1,000 at 100%;. Mergenthaler Linotype—10 at 42%, 1 at 4234, 10 at 43. BONDS. Bid and Asked Prices. PUBLIC UTILITY. d. Asked. 8 otomac Elec, Cons. 5% otomac Elec. 85 1053 ash. Alex. & Mt Vernon etf vashington Gas das ... N A ash. Gas 6s, series B. Wash. Rwy. & Elec. 4s MISCELLANEOUS, PUBLIC UTILITY. Amer. Tel & Tel, (9) apital Traction” Co. vash. Oas Light Co. ( W Steamboat (1 i Ry & Wash. Rwy. & E! NATIONAL B2 pital (14) Lum 2 mer. Sec. & Tr. Cp. (18) atl. Sav. & Tr. (13 ince Georges Bk. & Tr. (5) (i SAVINGS BANK FIRE INSURANCE. American (12) Corcoran (10) TITLE INSURANCE. Columbia (6h) Real Estate (6h) MISCELLANEOUS. 145 Bid. Asked, Barber & Ross, Inc. . pd. imer. Bromo-Seiz A deral Storage pld d.-Am. Co. com. (1 d.-Am 6. (8)... nston ¥pe (6). Tr & Btge. com. (1} Mer. Tr. & Btge. pfd (7). fergenthaler, Linotspe (6)° atl. Mige. & Inv. pid. () 3 irus Btores pfd. (80 83 al Bst M & G pfd. () 4 i Becurjty Storage R Re S8 Wi, ‘Corn. (8 orp. (3. ... o oum. d). 0.1 44 g, Corp. (). 00 rop com. (1.30).. 29% 1op BHE (D 10 fg g (2) 8 200 A AP A+ BB | Calif Packing 65'40 2 Canada 4s'60. . 78 Canada 4%8 ‘86 Canada 58 '52. Can Nat 4348 Can Nat Ry 4 Can Nat 438’57 Can Nat 4445 '68 5 1 Can Nat 4% ‘55, Can NAt bs July'69 Can Nat 55 Oct 69 Can Not 7t b ‘40 Can Pac db 45. Can Pac 5844, Can Pac 5s'54. o1 Car Clin � 5s '38, CarClin#06s'52. 8 Cent 111 GRE 5851, 2 Cent Pac 48 49 Cent Pac 58 '60 Cen Ry NJ g 5s ‘87, 11 Ches Corp 58°47... 6 C&Ogendtys's2,. 10 ’KSA‘QL 8 68. Chi M & Bt P 4s'89, O M & 8tP 4% C CM StP&P 55'75.. 69 CM&BtPadjss., 31 Chi&NW 4152037, 5 Chi & NW cn 4%s,, 91 ChI&NW £f 552031 11 Chi& NW 614536, 14 Chi RI&P rf 4534, 12 ChiRI&P4%s'52 3 ChiRIev4%s’60, 36 Chi Un St 5544, 1 C&WInden4852, 6 C& W Ind 5%s'62.. 10 5 28 Chile 6s'61... Chile 6563 Chile Cop db bs ‘41 Clev Term 4%8 11 Clev Term 538’74 Colomb 68 Jan '61.. 11 Colomb 6s ‘61 Oét. . Colon Of1 68 '38. Col6 & Sou 4%s'35. 2 Colo & Sou 4155°80. 1 Col G&E bs May's3. & Col G&E cou 8’61, 24 CCMaistrf 68’50, 2 Com Inves 548'49. 57 Con (I NY 4%48'51, 9 Con G NY 5%s'45, 18 Consum Pow 5852, 4 Copenhag 43;5'53, 10 Copenhag 58 ‘62, ... Cuba fits ‘4 ba R R ba “uba TR 68 ot 1 ubA IR L 44886 2 Czecho 8851, . De: & Hud 5 Denmark 4%s Denmark 514 Denmark 6s ‘4 D&RG W 68’55, DRG&Wis'78., Det E G&RA% 861, Det Edison rf 55'49. Deutsche Bk 68 ‘33, Dodge Br c16s'40., 7 Duquésne 4%8 '67. 26 Dutch East I 8s'47. Dutch East 1 68'62. Bl Salvador 8548, . | Erie 1st con 4= Eriecon 4s A '53 ! Erie gen 4s Eriecv Erie 5s Flat 7s war Finland 5% Finland 6s'4 Finland 78 ‘50 Fisk Rub 85 '41. Fond J&G 4 French 7 French Gelsenk'hen 6534, Gen Cable 516847, Gen Motors 7 Gen P 8v 5 4 Gen St Cas %849, Gen Th Bq 68 '40. German 53 65 German Bk 6s Ger Cen Bk 6s Ger Cen Bk 6560 O German 78 rep 49, German Bank 7s'50 Goodrich cv 65 °45. Good 18t 615 7 e Borsor sbeommnen BNwemo~ 00 I - o o e B [ Grt Nof 44877 Grt Nor gn b Grt Nof gh s Greek 63°63 s ca wmor —BE~BatwTeBTaS Chi Un Sta §s B 1 100 STATES. (Bales are in 41,000 Low, 98 30 100 10 1006 00 16 9626 9528 9524 9524 9430 9512 9727 9738 100% 7% 0 13 116% 116% 86% Ban e (11 8 101 6 10026 100 28 108 20 1034 108 10 1004 7t 18 115% 118% 3644 85 102% Hud & M rf §8°57, Humble 0 si4a 31, Hungary 14844 4 r}l (] 111 Cent 58 55 Tl CCStL&N Int Rap Tr 6843, . 1 Int Rap Tr1s Int Pa ;n(Pl €8'585...... § ot T&T4%s'58,, 25 Int TAT ev 4% 439, 11 Int T&TB5s's5 22 18 Italy PubS 75’52, 3 Japanése 515565, . 15 Japanese 8145 '54.. 47 CFtS&M 4840 Kan City Bou 18'50. Kan City Sou Kan City Ter Kan Q. Karstadt 68748, Kreug & Toll 58'59., LacGStL5s 34, Laclede 5% s 0’53 Laclede b SeRona P Lorillard Lorillard La & Ark 68 ‘6 Lou G & El58'52, L & N uni 4s 40 L&N4 - e R anseesnEannaman 3 Lyons 6s'34.. McKes & RE%#'80, Man S 18t T8 43 Manh Ry 18t 48'90, 1 Marseille 6484, . Midvale Stl 55 ‘36 Milan 6158 /52 MIERy &L M StP&SSM ent MK&T4s B 68, MK&T4%s"78. MK & Tadj5s'67.. 1 MK&T prin bsA's2 1 Mo Phc £ 48'75. ., 38 Mo Pacbs A 'S, . 9 Mo Psé bs F 17, Mo Pac 58 G '78 Mo Pacrf58'81, ., b3 Mo Pas 548 A'4D. 118 Mont Pow 58 '43 8 Mor&Co 15t 424489 3 Nat Daify § % Nat gteei 68 4 Netherlands 68 '8, 17 NEngT1st68'63., § NOTAMGsB'Se. 3 NOT&MGB%8'54 B8 Wi (34 - Sea 20000 o NYCentabes'ss. 5 NYC&StL4s'37.. 4 44, NYFEA1st6y4s'd1, NY EL H&P 45’40 JLR NY NH&H 4s'56. .. NY NH&H db 48’57 NY NH&H 4%s'67. 23 NY O&W 1st4s'92. 1 NY ORW gn4s'55.. 1 NY R ltaA'O: Norf South 58 Nor & Wn cv Nor St Pw bs A "41. Nor St Pw 65 B Norway 5s"63. " Norway 52 Oreg-Wash 4s’61 Orfenit De¥ 5144’58, Orient Dev 85 '68.., Pac G&B 58 ¢ Pas TAT £1 bs "6 Pan Amm Pét 68°40., Paramoiunt 6547, Paris-Ly M 6s'58.. Paris-Ly M 7s‘58.. Paris-Or 5145 68. . Pathe Exch 78 '37.. Penn 4s ‘48 sta. ... Penndi{sD'81.. Penn gn 4%4'66. Penn 4% s'83. Penn 5864, Pénn gen is ‘6 Penn 63836, Penn PAL 414 Pere M 1st 48 '58. Pere M 1st b5 '56. Petu 6580, Petu 6 41, Phila Co ba Phila Elee 4s PHRIIA & Read 68 Phillip Pet 5% 5’39 Pillsb F M 6243, PCCABL 44877 PCC&St L 54 B'75. P& W VausG'eo. - RononShowsnm—na BaeBE Poland 7s '47, Poland 85 50, Port Gn El 4% Por RAm T #8432, Pon Tel & C5y'ss.,, Prussia 6s ‘52 Public Serv 4s 11 Pub Sv G 414867, Pub 8v G 414870, , Pure Ofl 514447, Rem Arms 6s A 37, Rem R 616s A 41, Rhinelbe 7848 Ehlne West 635 hine West 65’58, , Rhine West 6855 . Rich Oil Cal 6s 44 Salowee o S3e o T I T . R Gr Do Sul 8s " RIAT&L 4348 Rome bi4s'52, ., ROy Das'4s ww, ., StL IM R&G 4533 St L&SF in 43 A '50 StL&SF 414873, StL&SF p15s B ‘5| L8w 1 2. 43, Bao Pau 7440 ret. Saxon P W §148'51. Saxon7s'45....... Bhinyetsu 61.s Binclalr O1l 6% s Sine O Taev A'3Y. ., Bine CrO5ys s Binc P L 5s Skelly Ol1 5% Soissons 6s ‘36 Bolvay Am 58’42, . Bou Bell TAT 6s 41 3 SWBeI T 58 A'54. Sou Paccolds’4s.. 17 Sou Ry gn 4s '56. Sou Ry s '94 Sou Ry 81486 £0u Ry M&O 4 SLOINJ bs 4 StOIIN ¥ 4145 Sweden 5138 '54 TN l‘l;l- Hisgh. Low. . 2:88. 27y 8 Speeial Dispateh to The Star. NEW nYON.JK, March 10.—Ootton prices wete unchanged lo 5 points higher 3% | in an active trade at the opening today. 70% 6214 | 64% 94 2% 72 11 0! Thers was brick speculative buying in July and October, while foreign demand absorbed offerings in March and May. prices were: March 6.91, up . ; July 7.24, up up 1, and January 7.65, up 1. WHOLESALE COMMODITY PRICES DECLINE AGAIN By the Assoctated Press. Wholesale commodity prices again declined last week as their course was charted by the Commerce Department. In the table that follows the index of jces is given for compara- ;}le .;enrliggsm based ori representing 1926 prices at 100. In addition, the selling price of & ton of composite steel prod~ uets 18 given for like pe:lolds: commodities. Steel. Week ended March 5.. 62.9 Previous week ... « 837 Same week last year.. 76.0 BONDS ON THE CURB les | DOMESTIC BONDS. Snoipands. 52 TjEh. Tow. Negn. PAlimmum g0 88 152 98 9 Am Cmwih Pw 6s 4'a 4l 2] Amer G & E 58 2028 8 A Pow 6s 39 $&T o 2018 &l B 45 6 3 Amer Rofl M S oSSR eNE SR BB BYSE S, 25818, 88 g SIS o fith ity P&L 88 AT B 990994 S R e T SR e A S L RIS S e SRR e AN BN SRS, 8! WS 2uBssazagas - o e J ‘ 1 gg: :’E .é 1 llipois LY Tty oy 13 Insull Utilit 6s B 11Int Sec 638 10 Inter Pw Sec s 4 Intern Sec Am 1 Intersta Power 1 S, i :gn‘i.& T 38 A 'l‘, FRERGCL B 5 3Lenigh P § 65 2026.. 82 P& °87. anitoba 9l & i 32 32 i i 9 8! 23 3 3 =Seegcanacgsgss: No Ut Bl or Ind P 8 53 D 69 SEEREE FSTEE & Sun_OIl 8los n 29 in 4154 *40 St & e a0 Téxds Flee by ' Tenas Gas Ut 5 e b A 3078 sy 24k A 30 'E“ 9 ox 8l Al T s A 57 @0 fheoh PAL. 5 F ‘36 85 FOREIGN BONDS. en Air Pr Tios 47 6s B 51 !a'l‘]t- ?}l(c%k 6531 2 Danish Coty e (. 2 ?.Cn alr B p Eu [ By Co un_ 7t i3 2 Ham t'Slrl’. h o 3 as A P S el_-"&bn issued. . More than 16.000.000 pounds of sar- ported dines were into Argentina last year. m;-, »'«a'u Toklo 514s"61. Tokio E1 Lt 6s'58.. 138 52% Un Pac 15t 4847, . 9314 UnPac4s'68...... he | U S Rub 18t 58'47.. Un St W 8ls A'4T. Ud St WeKka A5l 2 Ua St W B8 C'51. Uruguay 6s'60.... % | Uruguay 6s'64 04 E 4 fu o Uruguay 8s "4 Utah P& L 63’44 Uti Pw 68’69 ww ., Utll Pow 538 °47.. Vanadium 8t Vienna 8s 52 Vaprary Wabash 1st 55'39. . Wabash 58 7| Walworth 68 A West E1 db West Md 4s West Pac 58'46. ... West Unlon 68 '51. West Union 5s'60.. West Un 6%s W‘l}toén 81 7 I 0 1. Wis Cent gon 4888, l‘ “\ 1 \ b Er e DT $tocks sold in 100-share lots designated by letier 5. Stock and Sale— Dividend Rate. Add. 00. High. Agfa Ansco 1 2 mer 5758 50% Aluminum Ltd..., 1 20 Alum Ltd D war. ., AmCities P& L B. Am Comwith Pw A. Am Cyanamid B. ., Am & For Pw war, Am Founders, Am Gas & E1 (11 AmLt & Tr (214).. AmL&Tpt (13%). Am Superpower. . . Am Super 1st pt(6) AmUt& G B vte Am Yvette, . Anglo Chilean Atlas Utilities Atlas Util war. .. .. Aviation New Eng. Bell Tell of Can (8) 1268 Benef Ind Loan 114 Blue Ridge Blue Ridge pt (a3). Brasil Tr L&P (1). Brit Celanese rets. , Buff N&E pf (1.60) . Burma Ltd ret(2e). Butler Bros. .... : tPbS A (b5%) Cent States Elec. .. Centrifug Pipe 60c. Cities Serv (g30c) . Cities Sve pf (6) Claude Neon Lts Comwlth & Sou war Comunty Wat Sve. Cons Gas Balt 3.60. Consol Oil Corp. ... Cont Shares pf B. Cord Corp. ....... Creole Petroleum. , Darby Petroleum. . Deeére & Co. .. De Forest Radio Detroit Afrcraft Doehler Die Cast Dubilier Cond & R Durant Motors Duval Tex Sul wi.. Fast Sta Pwpf B.. 268 Efsler Elec Corp... 1 Ele¢ Bond &£ Sb8% 159 ElecB&Spe (6).. 9 Elec B&S cm pf(5). El Bond & 8hn w.i. Elee Pwr Asso (1). Elec Pw Asso A (1) Slee P & L op war. Elec Shareholding. Europ El Ltd A 30¢ Falcon Lead. Ford Motor C Ford Motor Can F'd M Ltd p 36 3-5e. General Alioys. ... Gn E Lt ret pas 3-5¢ Gen Pub Sve pf (8). 5q cvpt. déwr(20c). Golden Center..... Goldman Sachs. ... rham Mf vtc 1.60 ymur Corp (1) . GLtA&PTnv18%. Groc Strs Prd vic. . Gulf Oll of Pa.. Heyden Chem(25¢c) Hecla Mining (40¢c) Hudson Bay Min. . Humble Oil (2).... HIP&Lpt(8).... 50; Imp Ofl of Can 50c. Insull Inv. . Insurance Se Intercont Pete Int Petrol (1). IntULIA. Int Uul B. . Interstate Bqui ¢ p1 Kolster-Br Am sh. Lakey Fdy & Mch. . Leh Coal & N (). Lone Star G n(80c). Long Isl Lt pf (7). Louisiana L & Ex. . Stock and Bale— Dividend Rate. Add 00. High. Low. . Magdalena Syn. ... * & & Mavis Bottling A. . I Mead Johns (131). 587 8™ Mid West Util b3 % 2 Mid W Ut e pf xwé 1% 1 - 72 " 22% iy 69% Mountain Prod 80 Nat Bnd & Sh (1) NatlInvestors..... 7 #%4 Natl Pw&Lt pf (6).200s 70 Natl Rubber Mch.. 3 3% Natl Screen Sve(2) 1 Nat ST Sec A $60c. 5 New Bradford 0il. 2 New Eng Pw pf (8) 20s New Jersey Zinc2. 1 Newmont Mining.. 1 N'Y Hambure., 1 N'Y Shipbuild NY Telpf (8%).. N Y Trann (ki0c). Niagara H Pw (40e) Niag HPw A wr... Niag HPw Bwr... Niag Sh Md (20¢) Nitrate Chile B North Sta Pw A (8) Nth Sta Pw cm pf 6 20a Ohto Copper. .. 1 Ohio Oll cm pf( 160 Pac u&Eu(gtufi 4 Parker Rust P (3). 50s Pennroad (40¢) Philip Mortis. Phoenix Sec Plerce Governor . Pitney Bowes b4 %. Plymonth O1l k25c. Pub Util Hd war. . Pub Ul Hid z w. Reiter Foster. . Reliance Intl A Rellance Manage. . Rockland L&P $0c. 1 « 288 | St Regls Paper. Secur Allied (1) Seeman Bros (1), Selby Shoe (1.40) Selected Ind Selec Ind al ct (5 Sentry Saf Control, Shenandoah pf..... Sillea Qelet....... South Penn Oil (1), Sou Cal Bd pf B 1% Southland Roy 20c. - 87 Stand Motors. . 10 Btand Oll Ind (1).., 121 Stand Oil Ky (1.60). Stand Pub Srv A, Stinnes (Hugo). Stutz Motor Car Swift & Co (2). Swict Intl (14). Tastyeast..., Tech Hughes (£0c). Tobacco Prod Del. . Tob Prod Exp(10c)., Trans Lux DL P 8. Triplex 8fty Glass. Tri-Cont Corp wr. . Tung Sol Lamp (1) Tung 8ol Lamp pt 3 Un Amer Utilities. . Un Gas of Canada Union Tobaceo. 1td Chem pt pf (2). United Corp war. Utd Elec Servic United Founder United Ga. United Gas war. United Gas pf (1) United L&P A (1).. United L&P pf (6). USDairy A (8).. U S Elso Pw ww. US&Intl Bec. ... US&intl 1st pt. U S Play Card (2).. United Stores vte Utah P& Ltpt 1. Util Pwr & Lt.. Utility Equities Van Camp Pack Venezuela Pete. . Vick Finane (30¢). Wenden Copper. ... Wilwrth Ltd 23 8-be. “¥” Oll & Gas & o B Dividend rates in dollars based on last quarterly or semi-annual payment. *Ex Qividend. tPartly extra. {Plus 4% in stock. a Payable in cash or stock. b Pagadie in ¢ Adjustment dividend. Plus 87 in stoek. & Plus 6% in stock. hPlus 1% in stock. §Plus 2% in stock. 0: in stock m Plus 3% In stock. stoek, I O e 0D 003 1 1 =1 1 1 B e G 0 9 B8 e 0000 €0 et S e O b n Plus 8% in © Paid Iash year—no regular rate, COPPER PRODUCTION CUT SEEMS CERTAIN American and Foreign Producers Are Believed to Have Reached Agreement. BY BRADLEY W. TRENT. Bpecial Dispatch to The Star. NEW YORK, March 10.—The copper industry today viewed with re- newed hope the prospects of & rigid curtailment and marketing eement, following the announcement that Brit- ish and Belgian copper executives who have been participating in conferences here will sail for Burope Friday. There is every indication that the American and foreign copper interests have agreed in principle on a further curtailment of production, probably to a basis of 20 per cent of maximum rated capacity of mines, and on new rules for the export selling agency. The new agreemént would make changes in the rules governing _the operations of Copper E: s, Ine., the sales agency for world producets, In trade circles it was said today that the agreement would eliminate price cutting by customs smelters and pro- vide for a more equitable distribution of tonnage for sale. An accord on eurs tailment is expected on the basis of 15 to 20 per cent of world capacity, or around 55,000 tons of copper a month, compared with the present ou'dsuz of 28 per cent of capacity, or 80,000 tons a month. The effect of such a curtailment agreement on copper prices dpmh«bly would not be visible until it had been in Opejation a few months. As & matter fact, the price of the red metal has weakened in the domestic market this week and export copper today was Quoted as low as 6!4 cents a pound, though the official price of Copper Ex- porters, Inc, remains at 6% cents, (Copyright, 1932.) U. S. STEEL ORDERS DROP TO RECORD LOW MARK By the Associated Press. NEW YORK, March 10.—Unfilled or~ ders of the United States Steel Cor- poration decreased 102,521 tons in Febe ruary to a total of 2545820 tons, a record low, on February 29. In Janu- ary the backlog dropped 87,203 tons, U. S. Rice Exports. By the Associated Press. United States exports of rice dur- ing January amounted to 35,711,000 . the C Depart report by the Commerce - ment shows that about 30 per cent of this amount was taken lol'fifi countries, with the remainder going possessions of the United States. All countries, exclusive of our possessions, absorbed 13,186,000 pounds, while Porto Rico alone took 15,449,000 pounds. Hawaiian purchases accounted for 7- 083,000, with Alaska taking the re- mainder, or 23,000 pounds. A sharp advance in burlep prices this week came as a sequel to the abrupt rise gl the British pound sterling. the New York mar) advances of 8 to 15 points were tegistered, while the Calcutta market also showed a con- U. S. COTTON EXPORTS GAIN 475,514 BALES Commerce Department Report In- dicates Sharp Increase for Last ' 8ix Months of 1981, By the Associated Press. United States exports of cotton for the six months ending with January were estimated by the Commerce De- partment at 4,954,871 bales, a gain of 475,514 bales as compared with the cofresponding period of the previous year. Commercial statistics for February indicate that exports continued in large volume, with the seven months' total baml ing an inerease of about 900,000 es, Although earlier in the year ship- ments had lagged as much as 600, bales behind those of last year, exports increased to such an extent during November, December and January as to record the favorable margin for the latest period, the department sadd. The salient feature of the trade. the department said. was the marked In- crease in the volume of shipments to the Far East as contrasted with the consideranle decline in shipments to Europe, particularly to France. Expofts to the Far East rose from 914,823 bales in the first six months of 1930-31 to 2,166,300 in the cotresponding period of 1831-32. The quantity exported to China was more than three times that shipped during the previous year, while Japan's purchases were doubled during the same time. Ship Construction. By the Assotlated Press. The Commerce Department reports that on February 1 American shipyards were building. or had under contract to build, for private shipowners 89 ves- sels aggregating 252,162 gross tons, comy with 89 vessels aggregating 240,026 gross tons on January 1. The majority of the wmwu in !n-mna steel vessels of 1. gross tons and over, which were responsible for a total of 193,200 gross tons. Un- rigged steel ships, all coasts, of 100 !nr:“ tons and over, were responsible 56,264 gross tons of the remainder, Market Averages R; POttt g2s8 sSE3E Gigge s 258 Mt enokboa-oD gEsueSEsusanly 32 oE! 822B2383%33: pt=eastveatatuben Yesterday . .. Previous day. . Week afo . . & | American 1| written down $4412387,724 and assets (s have been reduced $419,097,516, which y | Power, 1 domestic markets. TO LOWER LEVELS Lack of Good News and| Profit Taking Sales De- press Market. BY JOHN A. CRONE. Special Dispatch to The Btar. | NEW YORK, March 10.—Narrow and | early dealings on the Curb Exchange today widened and became predomi- | | i | mixed price movements that marked || nantly on the downside shortly after || midday. Emphasis on the lack of en-| couraging industrial news, along with professional profit taking, brought about the more sharply defined trend. | Electric Bond & Share was virtually | unchanged, though the warrants of its| chief forel nperlnn! subsidiary, Forelgn er, firmed | after the latter omitted dividends on its | serllor shares. Cities Service, Ford | + | Motor of Canada A and United Light & | Power A were fractionally lower. Lowering of the Bank of England rate had virtually no effect on the London market. British shares here, such as| Brazillan Traction, Ford Motor, Ltd., and Qeneral Electric, Ltd., were in- clined to heaviness. Electric Bond & Share common and preferred stocks sold off in the fore- nooh because of the omission of divi- | dends on the senior shares of American | & Poreign Power. The latter action re- sulted from the company’s inability to| convert forelgn currencies into dollars | due to exchange restrictions. Such divi- dends were more than covered in 1931 The parent company, Electric Bond | & Share, is reducing the book value of | its investments to levels that prevailed | prior to 1920, Investments have been | have been offset on the liability side by a decline in surplus of some $460,616,- 558. Last year Electric Bond received only $3,775,000 from its second prefer« red holdings of American & Foreign against $13,350,000 in 1930, Prospects are that nothing will be re- celved from such holdings for 1931. Responding to an earning statement showing 1931 income of 75 cents a | share, against 98 cents in 1930, Tung' Sol Lamp sold off. Gray Pay Telephone Station declared an extra dividend of 50 cents on the common, but there was a reduction in Globe Underwriters' Ex- change, Inc., from 25 to 20 cents and in Colt's Patent Fire Arms Manufactur- ing from 3714 to 25 cents. National Screen Service featured the | turnover of more than 5,000 shares in the first hour put Ohio Oil preferred at the head of the list in active senior oil fssues. In the textiles Celanese First Participating preferred hit a new low. Beeman Brothers and Swift & Co. made the best showing in the pack- ing shares as Swift International, for a time, provided a contrast on the downside. I store shares Montgomery Ward A rose a point. With a copper curtailment program virtually agreed on, the red metal shares failed to respond, as a result of the sale of copper at prices below those quoted officlally in export and Grain Market By the Associated Press. CHICAGO. March 10.—Influenced by bearish aspects of the United Siates Government repoft farm reserve aupghu, grain prices averaged lower early today and unexpected upturns in Liverpool wheat quotations served as something of an offset to the govern- ment report. ning unchanged to !, lower, Chicago wheat futures held near the initial limits. Corn started at 14 off to % up, and sul uently held steady. ‘The Prince of Wales speaks French, Spanish and German proficlently and | also ca) verse in Wel THE VERTEX ALPHABETER A Complete Alphabetical Unit Employing the Fa- mous Expanding VER- TEX FILE POCKETS. Indexed A to B. 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