Evening Star Newspaper, April 19, 1932, Page 14

[A14 ®xe FINANCIAL. THE EVENING STAR, WASHINGTON, D. ¢, TUESDAY, APRIL A 19, 1932. BETER BUSNESS CONDITIONS NOTED Improvement in Building Operations Stressed in Fed- eral Reserve Reports. BY EDWARD C. STONE. Business reviews from the 12 Federal Reserve Districts during the past week indicates improvement in some lines of business and also greater stability. The Atlanta district reports that some stores report gains in trade and an in- crease in building operations is an-, nounced. Automobile sales have picked up, but are still far below last year. In the local Richmond district resi- dential construction has improved. Low-priced merchandise is reported in the best demand, large s awaiting the warm weather now expected. Bet- ter trade conditions are reported in the northern part of the district than in the southern. Weather conditions are excellent for but it is still considered too cool Chicago, Boston, Phil Jand, Dallas. M Francisco T signs. phia and more active in C Jections are better in Bost vance in the price of wh news to the Northwest, while the best news in the Dallas a provement in the the same being City. tent Industries here today by Wilson Com| the National Lumber M act Association. Vigorous promotion of the new organization is expected to follow the annual meeting of the National Lumber Manufacturers’ Association, in Chicago, May 5, 6 and 7. The new organization is described as being the inevitable outcome of the economic forces which are compelling union of affiliated industries to plan far ahead, to avoid useless and destructive ~Prev 1933~ High. 3 3% 129 2518 5l competition among themselves and pro-| 151% mote their common interests in external competition, scientific and industrial research and commercial promotion. The federation includes industries, both primary and secondary, the opera- tions of which are based on the use of wood, and the dominating purpose will be to restore the economic vigor of those industries which has been impaired for at least & decade by wasteful competi- tion, destructive taxation and en- croachments of other industries. Directly and indirectly the forest in- dustries ordinarily support over 6,00 000 people and directly employ 1.000,- 000. The lumber industry ranks second among American manufacturing indus- tries in the number of persons em- ployed. and third in amount of capital invested. Washington Fifth in Building. The District of Columbia took fifth place among the cities of the country in the value of building construction approved last month and tenth place in the ranking of States, according to an analysis of official reports by S. W. Straus & Co. Cities which exceeded the March total of $1,258,330 for the District of Columbia were New York, Los Angeles, Portland, Oreg., and Austin, Tex. Reports for last month, made by 589 cities and towns of the United States, | showed building permits to a total of $43,806,666, This was 2.1 per cent de- cline from February, 1932, when the volume was $44,745,747. The 25 leading cities as a group showed an increase during March over February, 1933, of 4.5 per cent; a de- cline of 73.6 per cent from March, 1931, and a decline of 72.1 per cent from March, 1930. New York City led the first 25 cities during both months. Los Angeles, third city in February, jumped to second place in March. Austin, Tex, jumped from fifteenth to fourth place; Wash- ington, D. C., from tenth to fifth; St. Louis from seventeenth to eleventh and Houston, Tex., from twenty-second to | sixteenth, H C. & 0. Quarter Net Holds Up. Report of Chesapeake & Ohio Rail- way Co. for quarter ended March 31, 1932, shows net income of $4,750,346 after taxes, charges and sinking fund appropriations, equivalent after allow- ing for dividend requirements on 6% per cent preferred stock, to 62 cents a share (par $25) on 7,652,689 shares of common stock. This compares with $5,016,484 or 65 cents a common share in first quarter of 1931. March net in- come was $2,083,245 after taxes, charges, sinking fund appropriations, etc., against $1,762,221 in March, last year. The Baltimore & Ohio Railroad in a report tn tie Interstate Commerce Com- mission shows February net loss of $840.827 after taxes and charges, com- paring with net loss of $1,132,260 in February, 1931. For two months ended February 29, 1932, net loss was $1,799,- 189 after taxes and charges against net loss of $2,034,156 in first two months of previous year. ‘The Atlantic Coast Line reports to the Interstate Commerce Commission & February net income of $20,824 against o net of $824,661 in February, 1931. For the two months ended February 29, net Joss was $290.112 after taxes and charges against net income of $1.438,795 in the first two months of 1931 The Seaboard Air Line reports Febru- ary net loss of $603,096, after taxes and charges, compared with net loss of $394,144 in February, 1931. Gleaned in Financial District. At the annual meeting of the stock- holders of the Richmond, Fredericksburg & Potomac Railroad, in Richmond, the retiring directors were re-elected. Nor- mal Call was re-elected president. Capital Traction stock sold at 13 on| the Washington Stock Exchange today, | up half a point from yesterday’s close. Potomac Electric Consolidated 5s came out at 101, and Washington Gas “B’ sold at 1001 American Tel tention in the locs after closing at par last night. It opened | at 997g. Predictions as to what it is| likely to do are numerous as there are customers in the board rooms. The ac- tion of the stock early today was most | conservative. The auditors’ section of the District Bankers' Association will meet with the Auditors’ and Controllers’ Assoclation of Baltimore at Baltimore Thursday evening. The Baltimore auditors at- tended the Washington meeting last week. ‘The offering of § Treasury bil f was heavily totaling $289.0( 600,000 were announces, ‘The' wholesale price index of the Na- tional Fertilizer Association showed an 5.000.000 of 91-day! v April 14| advance of 1 fractional point last week. It was the second consecutive week re- vealing price advances in a few im- portant commodities. 3 Local bankers have received an- nouncements of the reopening of the Detour Bank of Detour, Carroll County, Md., under a depositors’ limited with- drawal plan. It had been closed since last September. Packard Surplus Increased. NEW YORK, April 19 (#)—Stock- holders of the Packard Motor Car Co. yesterday voted to transfer $10,000,000 from capital to surplus, which will re- turn to surplus one-half of the amount taken from it in June, 1929, when outs 16 10% 27% and Low. Dividend Rate. 1% Abitibi Pwr & Paper. 8 Adams Express. . 5115 Adams Exp pf (5). 23!, Adams Millls (2) 10% Addressograph (1 674 Affiated prod 1.60 4015 Afr Reduction(t4%). 117 Alaska Juneau (50¢) 1 Alleghany Corp..... 2 Alleg Cp pf $30 ww. 61% Allied Chemical (§) 96% Allied Chem pt (7). 715 Allis-Chalmers(50¢) 6% Alpha Port Cemt (1). 12 Amerada Corp (2). 4% Am Agri Chem(Del). % Am Bank Note. 68 Am Brake Sh p 461 Am Can Co (15) 104% Am Can Co pf (7)... 4% Am Car & Foundry.. 20% Am Car & Fdy pf (1) Am Chain s 615 Am Comel Aleohol. 2% Am & Forgn Pwr.... 8 Amé&Forgn Pw(T)pf. 4 Am & For Pwr 2d pf. 3% Am Haw St'ship (1). 36% Am Home Prod ¢.20.. 12 AmIce (2). . 50 AmIcepf (6). 4% Am Internatio 5 Am Locomotiv 301 Am Locomot pf(7).. 1313 Am Mch & Fdy 1.40 4« Am Pwr & Lt (31) 24% AmP & Ltpf A (5) 4% Am Radiator (40¢).. 7 Am Rolling Mills. 17% Am Safey Ras (3) 7l Am Smelt & Ref 4« Am Steel Foundry. 32% Am Stores (12%) 15 Am Sugar (4).. 60 Am Sugar pf (T)..em 5% Am Sumatra Tob 100 Am Tel & Teleg (9) 3 Am Tobacco (16 66l Am Tobacco B (18 99 Am Tobacco pf (6).. 12 Am Type Founder: 181, Am Water Wks (3). 1513 Am Woolen Co pf. 14'5 Am Zinc & Lead pf. 415 Anaconda Copper... 90 Archer-Dan pf (7)... 32 Armour of Del pf(7). 6% Armour of T11 pf. 3 Artloom Corp.. 11 Associated Appacel.. 89% Atchison (4)......ee 5815 Atch To&S Fe pf(5)a 9 AtlGulf&West Ind. ¢ 8% Atlantic Refining (1) 10 Atlas Powder (2). 415 Atlas Stores (60c) 374 Auburn Auto (f4)... 14 AustinNichpfA1% 1, Autosales. aass 215 Aviation Corp (Del) 3% Baldwin Locomot! 10% Baldwin Loco pf. 814 Baltimore & Ohlo. 11% Balto & Ohlo pf. 80 Bamberger pf (6%). 60 Bang & Aroos pf (7). 4 Barnsdall Corp... 211 Beatrice Cream (4). 36's Beech-Nut Pkg (3). 6% Bendix Ava (60c) 13% Best & Co (2) 123 Bethlehem Stes 80% Borden Co (3) Borg Warner (1). Briggs Mg (1)..... Bklyn-Man Tran (4). Bklyn Union Gas(5). Brown Shoe (3) 4 Brunsw-Balke Bruns Term & Rwy Bucyrus-Erle. Bucyrus-Erie 11 Budd Wheal. 3% Bullard Co 6% Burroughs A 15% Bush Terminal(2%). 38 Bush Term deb (7).. 200: % Butte & Superior. Tia B: A M) 1% 3% 51% N B s a0 D EISPYSITE T 2.8 & manaada 1 230 108 10 10 s 8 —_— 5% Callfornia Packing. 2 Calumet & Hecla. 6% Canada Dry (1.20). 10% Canadian Pacific1%. 21 Capital Admin (A).. 25% Case (J 1) CO....0un 6% Caterplllar Trac (1). 1 Celotex vtectfs. . 51 Cerro de Pasco Cop 4% Checker Cab Mfgr. 12% Ches & Ohio (2%). 615 Chesapeake Corp(3. 4% Chi & Northwestern.. 4% Chi Rock I & Pacifie. 6% Chi R 1& Pac 6% pf. 814 Chrysler Corp (1)... 15 City Ice&Fuel (3.60). "6 Clark Equipment. 95% Coca Cola (18). 45% Coca-Cola (A) (3) 22% Colgate-Pal-P (2% 4% Collins & Afkman... 6% Columbia G&EI(b1% 40 Col Gas&El pf A (6). 415 Columbia Plc ctfs. .. 25 Columbian Carb (3).. 15% Comel Inv Trust (2). 89 Comel Inv Tr pf 6%. 58 Comm Invecy pfies). 5% Comm Solv (60¢).... 2% Comwlth & Sou(30c). 46 Comwlth&Sou pf (§) 8 Congolm Nairn (1). 4% Congress Cigar (1). 2% Consol Film. ... 7 Consol Film pf (2).. 48% Consol GasN Y (4).. 81% Consol Gas NY pf(5) 6 Consol Laundries(1) 4% Consol Oil Corp. .... 79 Consol Oil Cp pf(8) % Consol Textile. 1 Container Corp 14 Contl Baking (B) 28% Contl Baking pf (8 26 ContlCan (23%).. - SranSraSnnmnn 47 Contl O11 (Del). ... % Contl Shar 29% Corn Products (3). 19 Creamof Wht t2%.. 3 Cuba Cane Products. 5 Cuban-Am Sugar pf.. 287 Cudahy Packing (4). 15 Curtis Publishing(3) 1 Curtiss Wright. 114 Curtis Wright (A « Delaware & Hud (9 Delaware Lack & W.. 80 Detroit Edison (8).. 12 Diamond Match (1). 21% Diamond Mtch pf 1% 7% Dome Mines (1)..... 13 Dominion Storest1l 17 Dresser Mfg A (3%) 33% Drug Corp (4)..e.ee. 314 Dupont de Nem (4).. 5 8 FonBula @ wmon 11 87% 521 Eastman Kodak (5).. 4% EatonAxle& Spr 50c. 13% Elec Auto Lite (4)... 1% Electric Boat. . 4 Elec&Musical Instru s Elec Pwr & Lt (1)... Elec Pwr & Lt pf(6). Slec Storage Bat (3) Equit Office Bldg 2% Erfe R R 1st pf. irie R R 2d pf A Fid Ph Fire In(2.60). 11% Firestone T & R (1) 49 Firestone T&R pf(6) 3935 First Natl Strs (3%) % Fisk Rubber. .. Florsheims pf (6). 47 Foster-Wheeler 2 Fox Film (A) 14 Freeport-Tex % Gabriel Co (A). 7 Gamewell Co (1). 16% Gen Am Tank Car(4) T4 Gen Asyhalt (1). 11 Gen Baking (2) 4 Gen Cable pf. 14% Gen Elec (1). 10% Gen Elec spec (60c) - 1% Gen Food Corp (3). % 1% Gen G&E A (b6 % stk) 7 Gen Gas & ElecA(7)« 21% Gen Ital Edis (2.06), 10% Gen Motors (2) 62% Gen Motors pf (5). 8 Gen Printing Ink(1). 40% Gen Prig Ink pf (6). 1% Gen Public Service. . 13 * Gen Rwy Signal (3). 5 Gen Realty & Util... , 6% Gen Refractorl 10% Gillette Stf Ras(1) Sales— et Add 00. High. Low. Close. Chge. 1 | 1 3u 514 22 3 51% 2214 P+l +1 ~Prev.1932~ High. 18% 26 38% 3919 an 3% 17 18% 12 29% 11% 35 2514 9 187 Stock ana Low. Dividend Rate. 11% Gold Dust (1.60) 86 Gold Dust pf (8) 2% Goodrich (BF)..... 9% Goodyear Tire&Rub. 33 Goodyear 1st pf (7). T% Gotham Silk Hosiery 1% Graham-Paige . 8% Granby Consol % Grand Silver Stores. 23% Grant (WT) (1).... Great Northern pf(2) 8 Great North Ore(2).. 31 Great Western Sug.. 63% Great Wn Sug pf(7). 13 Grigsby Grunow.... Hackensack W (173) Hahn Dept Sto: . Hahn Dept Stores pf. Hall(WF)Ptg(a30e). Hartman Corp (B).. Helme (GW) pf(7).. Hershey Choe (6). Hollander Son Homestake M 18 Houston Oil. Houston Ol (new) . Hudson & Man (3%). Hudson Motor Car Hupp Moto: Illinois Central. . 15 Illinofs Cent 11 (4).. 280s Indust Rayon (4). 3 Ingersoll Rand (3).. Inspiration Copper. . Ins Shs(Del)a62 %e. Insur Sh(Md) (£8¢). Int Bus Machine(n§) Int Cement (£). Int Combustion pf Int Harvester (1.30). 5 Int Hydro E1 A (e2). Int Mateh pfd. Int Nickel of Ca Int Paper & Pw Int Rys of CenAm pf Int Salt (2). Int Shoe (3). Int Tele & Telog » Interstate Dept S Sales— Add 00. 46 - 3 20 o S DI T IO O 0310 S 110 i 19 b BT bt s 9ia 23 e cwamBarean fvoz ok 25 Jewel 10% Johns: .- 50 Jones & Laugh pf(7) Kaufmnn D S (80¢) 10 1314 K'berly C! 8% Kresge (S8) (1.60).. % Kreuger & Tell. 11% Kroger Grocery (1).. Lac Gas Lt (1%) Lambert Co (8)..... Lee Rubber & Tire. . Leh Port Cmt pt (7). Lehigh Valley RR. Lehn & Fink (3).. Libbey Owens Glass. Liggett & Myers(t5) Ligg & Myers B (15) Liquid Carbonie (2).. Loew's Inc (14)..... Loew's Inc pf (63). Loft Ine Lorillard (P) (1.20).. 1 Louisiana Oil. R 13% Lou Gas&El1 A (1%). 1215 Louisville & Nash(4) 1% Ludlum Steel McAnd & For (1.40). McCrory Stores B. ... McKeesport T P (4). McKesson & Robbins McKesson & Rob's pt % Mack Trucks (1). Macy (R H) (n). Madison Sq Garden., Magma Copper(50c). Mandell Brothers. Manhat Shirt (60c) . Marine Midld(80c). . Marshall F' Martin Parry May Dept Stores 1.0 Mid Continent Petm. M StP & SSM 1sd (4) Mo Kan & Texas Mo Kan & Texas pf. Missouri Pacific Missouri Pacific pf. 4 Monsanto Chem 1% .. Montgomery Ward. . Mother Lode. Motor Products (2) Motor Wheel. .. 434 Mullins Mfg. 414 Murray Corp ash Motors (2). B, e weSamBmamem~ 8 - w3 Faaahoanae® o 10, P o 13 - at Dairy (2.60). % Nat Dept Stores Nat Dist Prod (2)... Nat Distill pf (2%) Nat Lead (5) Nat Lead pf Nat Pwr & Lt (1).. Natl Steel (1).. Nevada Con Copper. * e Boniie: oemmmmeee Feora NH&Hpf (1).. Ont & Western. N Y Railways pf N Y Steam pf (6). Noranda M(m50c) Norf & Westn (112) North Am Aviation.. 4 Nor Amer (b10 % stk) North Amer pf (3)..; Northern Pacific. . . 20 Northwest Tele (3). 6 OhioO1l... 7 3 OllvFarm Eqprpf.. 1% Omnibus Corp. . 11 Otis Elevator (3 92 Otis Elev pt (6) 2 OtisSteel... 315 Otis Steel pr pf. 35 Outlet Co (4). 102 Outlet Co pf (7 19% Owens 111 Glass (2 4% Pacific & Bl (3). 28% Pacific Lighting (3).. 80' Pacific Tel&Teleg(7) PacificT & T pf (6).. 1008 Packard Motor Car.. 14 Pan-Am Pet B(1.60). Paramount Publix. . Parmelee Transport. Patino Mines. . Peerless Motor Car.. Penney (J C) (2.40).. Penna Raflroad (2).. % Peoples Gas. Chi (3). Pere Marquette. ..., Pero Marquette pf Pere Marquette pr Pet Milk. Petrol Corp o Phelps Dodge Co. ... Phila Co 6% pf (3).4 4 Phillips-Jones pf. . Phillips Petroleum., Plerce Oil 5 16 . Pillsbury Flour (2) % Pirelli (A) (a2.58 7 Pitts Coal pf. 1 Pitts United Corp. 213 Pirts United pt 31 Postal Tel&Cable pf. 4% Prairie Oil & Gas 5% Prairie Pipe Lin 2513 Proct & Gamb (2.46) . 91 Proc & Gamb pf (5). 884 Public Sve NJ (3.40). 92% Public Sve NJ pt (6). 86 Pub Sve GRE pf (5) 14% Pullman Corp (3)... 3% Pure Ofl. 6% Purity Baker Radio Corp. . . 20 Radio Corp pf A 3%. 7% Radio Corp pf B. 2% Radio-Ke'th-Orph... 5 bes-Manhat (1). 8 o a% RO R0 NNO R R BB~ AN o 1% Reo Motor Car. 3 Republic Steel 614 Reynolds Met (1%4)y 65% Reynolds Tob A (3).. 81% Reynolds Tob B (3) o 2 Rio Grande Ofl...... 13% Royal Dutch of NY.. o ————————— 39 Safeway Stores (5).. 8% Safeway Stra pf (7). 5 Joseph Lead. L-San Fran pf. Louis Southwn. .. hulte Retall Stores 6% Seaboard Ol ....... 19% Sears Roebuck (2%) 21y Servel Inc 7% Shattuck (F G) (1) e 2% Shell Union Ofl.., 8% lo«u-flol:—m 9 N » sRRamamaBanBeanS 31y 0 4 90 3% 93y 13 90 35 10% 3544 9 1% i 5 23% 10% 8 41 63% 5% 19 Net. High. xnam Close. Chge 1 1 |+ [ N 1 —87 -1 % % firm 1953~ Low. 401y 41y 2% 1% 64 5% 9% 140 16% E41y Stock and Dividend Rate. Solv Am pt ww(5%) South Port Rico Sug. Southn Cal Ed (2)... Southern Pacific. ... Southern Railway pf Spicer Mfg. ~Prey. High. Stand O1I N J (12)... Starrett (L S). Sterling Secur pf.... Sterling Secur cv pf. Stewart Warner..... ' Stone & Webster (1). Studebaker Co(1.20’ Studebaker pf (7). Sun 011 (1). 10 Texas Co (1). 16 Tax Gul Sulphur (3). 3% Tex Pacific Land Tr. 23 Thatcher Mfg pf 3.60 4% The Fair 69% The Falr pf (7) 10% Third Nat Inv ( 1 Thompson Starrett.. 2 Tide Water Asso Oll. 20 Tide Water As pf(6). 3 Timken-Detroit Axle 18% Timken Roller B(2). 24, Transamerica Corp 2 Tri-Contl Corp. Truax Traer Coal 7 21% 4 1% 18% 1047 85 32 24% 137 26% 6y 29 7 85 16% 1 314 Un Carb & Carb (3).. Un Oil of Calif (1.48) Union Pacific (10). Union Pacific pf (4 Un Tank Car (1.60).. Unit Afreraft....... Unit Aircraft pf (3).. Unit Biscult (2)..... Tnit Corp (40c) Unit Corp pf (3). Unit Electric Coal. Unit Fruit (3)... Unit Gas&Im(1.20).. Unit Gas&Im pf(5). U S Freight. . U 8 Gypsum (1. Sales— Add 00. High, g § 2 sEsEsss wyass 48 27 LI+4101+ 441101 Wabash Warner Warren Warren Wesson Weston Westvaco Chlor 1.60. White Rock (4) Willys-Overla: Overland pf.. Woolworth (2.40)... Vorthington Pump. Worth Pump (B).... Wrigley (Wm) (4).. s Yellow Truck. % Zenith Radio, 6% Zonite Prod Corp (1) Sales of Stocks on New York Exchange. Dividend rates 312 — 1y 20% 16 87 45~ 164 — *Ex-dividend. 8 extra. | e Payab'e_in cash or stock. %% in 8 2% Util Per& Lt (A)... 3% Va-Car Chem 6% pf.. 14} Vulcan D'tinning (3) Warn Bros P! West Pa Elec A (7). West Pa BIpf (7)... West Pa Pwr pf (7). Western Maryland.. Western Unfon (4).. Westing’se Alr B(1). Westinghouse (1)... Westinghse 1st (3%) payments based on the iates: quarterly or half-yearly declarations. $Plus 4% in stock. & Paid this year—no regular rates. JPius 81 in special preferred siock. K Plus 3% m Paid last year—no regular rate. o Plis 8% FINANC Stock and . Dividend 19% U S Indus Alcoh 4 USLeather (A). &% U S Pipe & Fdry (2). 12% U S Pipe&Fy 1st 1.20 5% US Realty & Imp 3 US Rubber. 11% U S Smtg & Re! 35% U S Smtg&Ref pf3% 31% U S Steal (). 83% U S Steel pt (7). 119% U S Tobacco pt (7 United Stores pf (4). 16 Univ Leaf Tob (3)... Bates— Rate. Add 00. High. 38 20% % RR. Quinlan Bros. Found & P. Oll&Sn (1).. 114 Elec Instru.. 2 1 1 4 1 2 5 1 4 7 3 1 200,000 n" Noon 500,000 700,000 10 P.M.. 800,000 iven in the above tabie are the annual eash Unit of trading lses than 100 shares 1 Partly stoek f Plus 8% in stoek b Plus 3% im in “sbosk. i sioek » Plus PRODUCE MARKETS IN FRMER TREND Gain in Wheat Prices Feature of Mid-April Trading. % W Is The markets on leading farm prod- ucts were showing considerably better action in mid-April, says the United States Department of Agriculture, Bu- | Teau of Agricultural Economics, Market | News Service. The rise in the wheat market was a pronounced feature and there was no extreme weakness any- | where. Cotton fully held its own. Live | stock was in greater demand and held | prices well against larger supplies. Po-| tatoes were showing price recoveries. Eggs and poultry continued fairly | steady. Butter and cheese were the weakest features, but declines were | slight to moderate and resulted mainly from the tendency to larger supplies at this season. Butter Unsettled, % ‘The general tone of the butter mar- ket throughout the first half of April was nervous and unsettled. Further price declines of one-quarter to one- half cent were recorded near the mid- dle of the month. There appeared to be a general lack of confidence in but- ter at the present price levels on the part of receivers and buyers. Arrivals of butter at leading markets were somewhat heavier, yet pasture condi- tions of early April in States where cows are normally on pasture by that time were reported as 70.6 per cent, which was substantially lower than that of the previous eight years. Pro- duction per cow on April 1, as re- % | ported by crop reporters, was 5 per cent lower than on any April 1 during the past four years. The decline in country cheese mar- kets was reflected in an easier tone in mid-April distributing markets and in fractional price declines at Chicago and Philadelphia. Potato Market Firm. Old potatoes were in a generally firmer position. Shippers of Round Whites in Western New York were get- ting 80 cents per 100 pounds, and best % | Green Mountains advanced in Northern Maine to 50-55 cents. Michigan {. 0. b. sales were higher at 65 to 70 cents, but Wisconsin prices declined a little to 55-60 cents. Old yellow onions are selling higher in Western New York at $3.60 to $3.75 per bag of 50 pounds. City prices ad- vanced everywhere. New York City received 18 oarloads from Egypt and 39 carloads of onions from Chile. Let- tuce declined sharply at Arizona ship- ping points, during the peak move- ment. Southeastern Big Boston held about steady. Tomato prices tended upward. City prices of all cabbage ‘were mostly lower. Sweet potatoes at last report of the season held most of their recent slight gains, except for a decline on Tennes- see Nancy Halls and on Louisiana Porto Ricans. Celery was selling lower and asparagus declined rather sharply. Texas spinach also declined. Louisiana strawberries dropped to an average of $2.70 per 24-pint crate on the f. 0. b. auction at Hammond. Best Baldwin apples were slightly weaker in Western New York at £1.10 per bushel, with barrels at $3. Extra fancy, me- dium to large Winesaps were stronger ;| in the Pacific Northwest at 95 cents to $1 per box. Fairly Steady Egg Markets. The egg markets have been rela- tively steady in_ April, although there was a slight decline of one-fourth cent per dozen near the middle of the month. This slight weakness was the result of a rather sharp increase in receipts at the principal markets without & cor- responding increase in demand. On the whole, the continuation of the weak and indifferent demand, including light buying for storage, is a very un- settling factor in market sentiment. SILVER QUOTATIONS. NEW YORK, April 19 (noon) (®).— Silver futures steady; sales, 350,000 ounces; May, 28.33 T; July, 28.60 bid; September, 29 bid; October, 29.15 bi December, 29.50 bid. U. S. TREASURY BALANCE. By the Associated Press. Treasury receipts for April 16 were $3,700,996.13; expenditures, $51,391.- | €47.80; balance, $451833,819.44. Cus- | % |toms duties for 16 days of April were 1$11,858,551.06. Anthracite Coal Production. NEW YORK, April 19 (#)—Produc- tion of anthracite coal in the week ended April 9 amounted to 1,291,000 tons, compared with 1,060,000 in the Enl’mdlnx week and 1,260,000 in the week of 1931. CHICAGO DAIRY MARKET. CHICAGO, April 19 (). —Butter— Receipts, 13,892 tubs; market firm | creamery specials (93 score), 1934a20%%; extras (92), 19%4; extra firsts (90-91), | % !18'al9; firsts (£8-80), 17'5a18; sec- % onds (86-87), 16al7; standards (90), | centralized carlots, 193, | Eggs—Receipts, 30,867 cases; market CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, April 19.—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 declined sharply in the week ended April 16 not only in actual volume but also in com- parison with the usual seasonal trend. According to Cram’s Automotive Re- ports output totaled 35,778 units, which compares with 42,853 units in the pre- ceding week and 75931 units in the corresponding week of last year. The decrease was largely due to sizable curtailment in Ford and Chevrolet out- puts. The Companies. Aluminum Ltd., production around 50 per cent of normal. Andes Copper Mining 1931 deficit be- fore depletion $24,505 vs. net income $5,076,696, equal to $1.42 a common share. Atlantic Refining Co. advances tank wagon and service station gasoline prices 1 cent a gallon in New York, New England and New Jersey; tank car prices to be 7 cents a gallon at all points. Chesapeake & Ohio Railway March net operating income up 17.4 per cent; common share earnings, quarter ended March 31, 1932, 62 cents vs. 65 cents. Cincinnati Street Railway March op- erating income $141,556; gross, $196,517. Claude Neon Electrical Products Cor- poration, Ltd., first quarter dividend needs covered in period. Consolidated Mining & Smelting Co. of Canada, Ltd, production, quarter ended March 31, 31,870 tons of lead vs. 38,773 tons; zinc, 17,132 tons vs. 27, 949; silver, 1,501,483 ounces vs. 1,930,- 575; gold, 6,743 ounces vs. 7,234. Continental Motors Corporation May schewuol! nes\;oDe Vaux calls for ap- proxi ly 1, cars; plant it on 9-hour day, 6-day week. e Aluminum, Ltd., 1931. deficit $868,875, Vvs. net income $968,567, equal to 92 cents a common share Bohn Aluminum & Brass deficit, quarter ended March 31, 1932, $73,201, Vs. net income $437,206, equal to $1.24 & common share. Caterpillar Tractor deficit, quarter ended March 31, 1932, $510,124, vs. net income $1,031,345. equal to 55 cents a common share laries and wages cut :g;zrcnm)y per cent on March 1, Commonwealth Edison common share earnings, quarter ended March 31, 1932, $2.97 vs. $3.42. Graham-Paige Motors net income quarter ended March 31, 1932, $166,589, equal to 5 cents a common share, vs. deficit $178,523. ' Harbison-Walker Refractories omits quarterly common dividend; paid 12', can:nMuL‘h ll1 193221 $6 preferred share earnings, quarter ended March 44 cents, va, 31807, S ansas City Public Service $7 pre- ferred share earnings, qua: March 31, 1932, 42ncsenl-sq. V:e;l;g.‘md et Income" $20415, equat o 5o me 1612, equal cog!mgn m&‘;e- eq! to $1.66 a orden . reduces retail one-half pint bottles of !xh:flfl:l\?}f s:la';n 3 cents; light cream reduced 2 Chrysler Corporation—Pirst quarter De Soto sales 36 per cen! w&pemln P t above same neral Public Service Co Hqugiltlng value hh:xl’ch 31, l;p:;;flgl’; cents a common share vs, ceflbe‘r ili 1931. Ypvioete e ational Dairy Products — Fax-m‘ ! :x:edu;es retail price of Son‘_be%:lfl pinf ra heavy cream 3 3 o oy e Co. (N. J)—, b ment for purchase of P:?n-Amerlun Petroleum & Transport foreign proper- ties reported near completion; consider- ation in cash and stock will approxi- mate $100,000,000; Pan-American, more gfin rQSI r;i; cemt owned by Standard of Indiana, to carry on business as heretofore. R Darby Petroleum 1931 deficit $993,368 vs. net income $362,198; equal to 71 *“Guf. States. Steet ul el-Twd furnaces at Gadsden plant resume; ingot produc- tion in district rises to 48 per cent of capacity. Market Averages By the Associated Press. STOCKS. 2 50 2 Indus. Rai . 410 Ty Yesterday . vy Previous day Week 280 . Month ago Year ago . Three Five years 19 2R =R 0. 80, § gBsEae: Or DR 3 © e i TP age 3 sag2Ey Rl et Protam-esaaraias ) B2INE222333, Three years ago. High. 1932 w. 1 E=a2se (Tetetappeeauate 4 § k. = g;;;::::====35 CANE SUGAR FIRMS SEEKING PROTECTION Fourteen Companies Appeal to Congress for Action to, Control Heavy Imports. By the Associated Press. NEW YORK, April 19.—Fourteen of the largest cane sugar refining com- panies in the United States have ad- dressed an appeal to Congress for pro- tection against the growing imports of the refined product from Cuba, Porto Rico, Hawail and the Philippines. The Philippine situation was espe- clally stressed in the appeal in view of the fact that the House recently passed the independence bill and the measure is due for early consideration by the Senate. The letter to Congress states that the proposed legislation would admit for a period of years 50,000 tons of refined sugar annually from the free of duty. This amount, it was said, would provide a free berth for 112,000, 000 pounds annually from the | or enough to supply 1,120,000 Americans |for a year. At the same time it is | pointed out that three mainiand refin. ugar Refinery, Co., National Sugar fining Ay 1- vania Sugar Co. Revere Sugar Re- finery, Savannah Sugar Refining Corpo- ration. Texas Sugar Refining Corpora- tion, Western Sugar Refinery and W. J. McCahan Sugan Refining & Molasses | Co. BALTIMOREANS OPPOSE PROPOSED RAIL DEAL Special Dispatch to The Star. BALTIMORE, April 19.—Opposition to the acquisition of the Western Mary- land Railway by the Baltimore & Ohio is expressed In a brief filed with the Interstate Commerce Commission by former Representative John Philip Hill. Mr. Hill took his action as counsel for the Three Railway Systems Commit- tee of Baltimore, the Old Town Mer- chants & Manufacturers’ Association and the East Baltimore Business Men's Association. Mayor Howard W. Jackson has co- operated with the Baltimore Associa- tion of Commerce, which filed an opin- ion favoring the absorbing of the West~ ern Maryland by the Baltimore & Ohio. Mr. Hill in his brief advocates the assignment of the Western Maryland in the consolidation plans to the New York Central and the assignment to the Baltimore & Ohio of the New York, Ontario & Western and the Delaware, Lackawanna & Western. This would give the Baltimore & Ohio 700 addi- tional miles of railroad, he says. PARIS BOUB;E PRICES. PARIS, April 19 (#).—Three per cent rentes, 77 francs 10 centimes. Five per cent loan, 101 francs 40 centimes. Exchange on London, 96 francs 7 centimes. The doliar was quoted at 25 francs 33% centimes. U. 8. TREASURY CERTIFICATES (Reported by Chas. D. Barne Co) Rate—Maturity. . 3%s Oct. 15, 1 3tas Aug. 1, Sept. Yas Dec. B Peb. 1. 3308 Mor. 15, 25 Mar. 18 Apartment House der IAL STOCKS DEPRESSED TONEW LOW MARK 3 Market Shows Some Resist- ance in Final Trading, However, BY GEORGE T. HUGHES. Soecial Dispatch to The St NEW YORK, April 19.—A fresh de- cline in the stock market today carried eight or ten leading industrials, one of which was United States Steel, and two important utilities, one being American Telephone & Telegraph, to new lows for the bear movement. The ralls put up strong resistance and were only irregularly lower at the end. In the last hour prices came back from the worst and the market left off with indications that a rally was near. odities were influenced by the weakness in stocks during the early part of the day, but eventually they shook off that malign influence and nearly all of them closed higher. The | recovery in wheat was most impressive, and 1t is to the grains that Wall Street now looks for rescue from its slough of despond. It was on the stocks that had been under pressure the previous session that attention centered at the opening today. Of these American Telephone and United States Steel were the most im- portant. The former opened today ! under par and slipped off nearly a t before steadying. Now a point oss in a stock selling around $100 a share is of no great significance and ordinarily such a loss would be ignored It was only because the street had been watching Telephone so long that the fresh decline made an impression. The same is true (o a lesser extent of United States Steel, which under $30 a share was at the lowest since 1908, After yesterday’s meeting of the stock- holders hopes for maintenance of any disbursement on the common stock have about been abandoned and today’s de- ;l{ln!, whlc?. like that in Telephone, was Do great amount, was in recognitior of this fact. Somewhere, and m:. Steel common will reach the point where its great asset value will coun- teract its immediate earning position. Washington Produce Butter—One-pound prints, 23; tub, 22, Eggs—Hennery, 11; current receipts, 10. Poultry, alive—Old toms, 15al8; young toms, 22; hens, 23a26; crooked breasts, 18; Spring broilers, 1% to 3% pounds, 23a25; Leghorn broilers, 20a22; Winter chickens, 18a20; stags, 12; hens, large, 15a17; medium, 15a17; Leghorn hens, 13al4; capons, large, 30a32; small, 20a23; slips, 18; roosters, 10; keats, young, 45a50; old, 25a30. Poultry, dressed—Turkeys, old toms, 18a21; young toms, 25; hens, 26a29; crooked breasts, 23; Spring broilers, 133 to 3% pounds, 26a28; Leghora broilers, 23a24; Winter chickens, 21a23; stags, 15; roosters, 12; hens, large, 18a20; hens, medium, 18a20; Leghorn hens, 3 small, 23a26 keats, New Zealand Trade Declines. ‘WELLINGTON, New Zealand, April 19 (#).—Although New Zealand had a favorable trade balance for the fiscal year ending March 31 last, the excess of zxw over imports, amounting to £400,000 (currently about $1,500,000), both imports and exports showed a se- rious decline, it was revealed last night. Compared with the figures for the previous year, exports in 1931-32 fell nearly £6,000,000 to a total of £33,581,- 000. Imports were reduced by nearly £15,000,000 to a total of £33,165,000, NEW YORK BANK STOCKS NEW YORK, April 19 (#).—Over-the= counter market: Chase (3)........ Commercial " (8) First National (100) Manhattan (2) National City (3) Publie (2). MANAGEMENT YOUanberclieved of those details which are constant- ly arising to perplex and annoy in connection with the manage- ment of your apartment house properties by placing them un- our care. Our long experience has organized a service that is coms petent to meet every contine gency—and to the owner’s .--W"P”fi" B. F. SAUL CO. 925 15th St. N.W. Nat'l 2100