Evening Star Newspaper, April 19, 1932, Page 15

FINANCIAL. BOND BONDS ARE STEADY IN QUIET TRADING U. S. Issues Still Reflect Pol- icy of Profit-Taking on Recent Rise. BY F. H. RICHARDSON. Epecial Dispatch to The Star NEW YORK, April 19.—Bonds were steady today in dull trading. The market opened lower, paralleling # similar movement in stocks. Still awaiting definite results from the “mildly inflationary” measures inaug- urated in Washington and embodied in the cheap money policy of the Federal Reserve, the helping hand of the Re- construction. Finance Corporation and the Glass-Steagall’ banking bill, the Street was not inclined to look for any further cut this week in the rediscount rate or even in bill rates. Hence there was & tendency to take what profits had accrued in United States Government long-term issues and, to a lesser ex- tent, in Treasury bills and certificates. Treasury bonds such as the recently issued 3s and 3'ss were selling about a point under their 1932 highs and about !5 point lower on the day. Lib- UNITED STAT (Sales_ars in Sales. Lib 3% s 32-47. . L1 %5 43-47. . % 46-56... Abitibl P&P 5s'53. Ab& St5%s 43. Alleghany bs'49 Alleghany 58 '50 Allis-Chalm s Am F P 55 2030 AmIGChb5is Am Intl 5%8 4 Am Sm&Ref 5 Am T&T c tr 58 " Am T&T deb 5 Am T&T 5%s Am Wat Wks 5 Am Wat Wks 6s | Argentine 534 Argent 65' 61 M erty 3155 and fourth 4's were off nar- | A rowly and about 3 under their 1932 highs. Treasury bills, which have been bid for around .65 per cent, were today .75 per cent bid. Notes that have been sought at prices as high as a 1.17 per cent yield basis were 1.25 per cent bid today. The movement extended in a slight degree to corporation issues of the highest class. American Telephone 5s eased. General Motors acceptance 6s were lower, as were Standard Oil of New Jersey 5s. High-grade rails, such as Atchison general 4s and Norfolk & ‘Western 4s, were off a shade. Junior issues sagged more heavily. Southrn Pacific collateral 4s, which are secured by deposit of the entire com- mon and preferred stock issues of the Central Pacific Railway, dropped 5 points to under 50. Central Pacific re- funding 4s were a point lower. South- ern Railway 4s dipped 2 points. Frisco prior lien A 4s were weak. Industrials were heavy, notably St. Joseph Lead 5!3s. Youngstown Sheet and Tube 5s and International Cement 8s. Speculative utilitles also ground. ‘There was outstanding steadiness in Cnnadian_bonds, especially those pay- able in New York funds. The bal- ancing of the Canadian budget, favor- able prospects for the Imperial Con! ence soon to be held in Ottawa and the opening of seasonal activity in Can- ada have furnished arguments for tak- ing a long position in Canadian ex- ehange. Conservative investors are doing this by purchasing Canadian gov- ernment, municipals and high-grade Arm & Co 4%8'3 Arm Del 5% 5 '43 AtIC L 1st 45’52 Atl Ref db 5s ‘37 Australia 43 Australia 5s '55. Australia 58 '67. Austrian 7s ‘43 Austrian 7s '57. B&O ist4s’48 B&Oref 6sC " Batav Pet ¢%45 4 Belgium 6s ‘6 Belgium 6%s '49 Belgium 78 '55. Belgium 7s ‘56 Bell Tel Pa Beth 8tl pm 5 Beth 8tl rf 5s 42 Bolivia7s 6 Bolivia 78 ‘69 Bolivia 8s 47 Bordeaux 6 Bos & Me Brasil 61s'2 % Brasil 7sCR'53. Brazii 8s 41 Bremen 7535 298 125 182 19 Alleghany Cp 5544 17 Am Beet Sug 6s'35. Am Chain db 6333, 150 47, Am Sug Ref 6s°37. Am T&T 4%s'39 Am T&T deb 5560 65. Argentine 6s B '58. 9 Atchison gn 45’9 Atchison 4%s'48 BK of Chile 634 557. corporation bonds payable in American | Bklyn Kd 5s A 49 3 68 funds. Other Great Britain 5%s, responding to the favorable reception accorded the British budget. touched a new high after the opening. ROXY THEATER CONTROL IS LOST BY FOX FILM By the Associated Press. NEW YORK, April 19.—The Fox Film & Theaters Corporation lost control of Roxy Theaters, Inc, yesterday, when class A stockholders assumed direction of the Board of iu.r{y G. Kosch, attorney, as presi- ent. mon stock interest to Fox its opening in 1927, The change in control was made pos- ible by a provision in the mrmtml charter which ordered a_stockholders’ meeting to elect new officers in the event that four consecutive quarterly dividends were passed. This has oc- curred. —_— Sheet Steel Sales. NEW YORK, April 19 () —The Na- tional Association of Flat Rolled Steel Manufacturers reports total sales of sheet steel for March at 101,559 tons, against a production of 110.559 tons and shipments of 117,685 tons. Washington Stock Exchange. SALES. Polwmac Electric Cons. 55—$1,000 at i AFTER CALL. Washington Gas 6s “B"—$100 at 100%. Capital Traction Oo.~10 at 13. BONDS. Bid and Asked Prices. PUBLIC UTILITY. Big Asked Amer, Tel & Tel. 48 '33 0072~ 99 100%2 00 1021, 102 | Wash. Wash. Gas 6s, + Rwy. & Elec - MISCELLANEOUS. : ge 55 STOCKS. PUBLIC UTILITY. 9 3 Power 54 y. & EL eom. (1) . & EL pfd (8). NATIONAL BANK. pid Bank of Bethe Com. & Savix East Washin Columbia (6h) Real Estate Emer. Bromo-Seiz ed.-Am. Co. cof ed -Am. Co. Bl 2 Lanston Monotype (8} & Stge. com. Mer. Tr. & Stge. pfd. (7 Mergenthaler Linotype (3) Natl. Mtge. & Inv. ptd. (8) Peoples Drus Stores pfd. (6l st M. & Q. pfd. (8). W. M Wash. Med. Bide. Corp foreign bonds were quut.' Bklyn Elev §%s. Bklyn Man 6s A ' Bklyn kly: Buenos A. BR&Pitts 4148 Bush Ter con Bush T Bldg b Canada 4s Canada ¢%45'38 Canada b8 UnGasbs'45. Un Gas 68’50 5T 2. Can Nat Ry 434851 Can Nat Ry 434 #'54 (1] Can Nat Ry 4% CenRy NJ g § 4 Ches Corp 5847 22 00 West 4a' tP gn 4% StP4%s 48 anga 2Zg nEERpORRRE ~Pn ® C M & Bt P adj b Chi & NW 4%s'4 Chi RI&P rf ds " ChiRI4%s"60. Chi Un Bta é38 Chi Un Sta %8 Chile 6s'61 Jan. Chile 65 '83. Chile 78"42. ... Clev Ter 5155 A " Cologne 6348 ‘50 Colomb 6s *61 Oc Colo & Sou 4145 " Colo & Sou 4%s | Col G&E 58 Col Gas&El b Con Pow Japan 7 Consum Pow bs ' Copenhag 4 %48 ' Copenhag bs ‘52 Cubs %8 45, . Cuba RR 1st is Cuba R R 65 ‘36 Cuba RRrf T%s Cuba Nor 5i4s ‘4 Caecho 8861, Czecho 88752, Del&Hud ref ¢s " Denmark 6s '42 Denver Gas 55’5 Det Edison rf 5’ Deutscie Bk 6 * Dodge Bros 6s '4 DE Erfed4s B | Fiat deb 7546 Finland 5138 '58. French Gov. French Go Gen Baking 5% Gen Motors 68 '3 Gen Th'Eq 6s ‘40 Ger Gov 535 "85 Ger Cent Bk 63 Ger Cen Bk Ger Cen Bk German 6%s '50 German Rep T Ger Cen Bk 78 ' Goodrich 6s 45 Goodrich 6145 4 Grand Trunk 6s Grand Trunk 7s’ Wdwd. & Lothrop com. Wdwd. & Lothrop pfd. *Ex. dividend. D5 52 extra. 32125 extra. B2 ra. 4% extra. 417 extrn. 5% exira. &% extra. t Nor 4145 D" E i = LY = 9. G) ChI&NW 4% s 2037, 9. Chi&NW rf 58 2037 C 36 Chile Cop db 68 47. Clev Term 4%s8'77. Clev Term 58 B '7. 13, Colomb 6s'61 Jan.. t 35. 80. 2 May 61.. Com Inves 618 49. s 2. 3. '52 ‘36 2. Del & Hud 5%5'37. Denmark 4%s '62 Denmark 5%s '55 125 Det Edi 425 D ‘1. 49 035 Duquesne 435 '67. %s ‘53 Mar. Dutch East I 65'62. 0 Gen Cable 538 '47. 7. Gen P Sv5%s'39 49. 0.. Ger Gen El 78 '45 5. Goodyr Rub 58'67. . ‘38 40. 76. Grt Nor en 75 '36.. Greek 65'68... 000, . High. 101 1 101 81 ES. ) Low. Close. | Hoe & Co 6145 '34 100 25 100 25 10126 10126 Hud & O N THE EVENING STAR, WASHINGTON, D. ¢, TUESDAY; APRIL 19, 1932. STOCK EXCHAN Received by Private Wire Direct to The Star Office. Hait! 6s°52.... . Hud & M adj 53 '57. rf 5857 102 18 10212 102 17 | Humble O1l 5537 94 80 9414 94 14| Humble O 5%s " 9515 9 9817 9818 105 24 106 29 Sales. High. Low. Close, 0 . 3 hi Un Sta 5s B'63. 50 118% 1 98% 22 44h% 8 103% 1031 30 30 % 40 784 20 16 15 72 20% 68 32 62 69% 83 101% 100 101% 9815 9 103% 864 624 64 49 48k 49 484 4 57% 5% 92 bk 321 ¢ 80w T6% 83% 914 974 % 1018 102 102% 102% 3 ktd 87T 89 834 83% s au ) 19 23% 38 8¢ 854 08% 5 5 s T8% My 96% 80% 964 584 93 93 103% 103% 3715 4 101 5T 35 4 35 T4 88 T8% 89% 57% 100% 100% 63 63 70 96% B1% 84 35 44 28% 28% | Bl 49 | Bl | 5¢ | 17 116% 117 118% 118 9614 11 Bell Tell 55'58.. Il Cent cl tr 4s '53. Il CCStL&N 4%s. . T CCStLAN §s A.. 111 Steel db 4 %s Inland St 4% s A'78 Int Rap Trrf 55°66 Int Rap Tr 66 sta. . Int Rap Tr 6532, Int Rap Tr7s'3 Int Cement 5s '48 Int & Gr Nor 6s°52. Int &G Nad 6352, Int Hydre El 6s Int Match bs *41. Int Match §s'47... Int Mer Mar 68 '41. Int Pap ref 68 A’47, Int Pap 6s'55 . Int Ry CA 5872, .. Int Tel&T 434539, Int T&T 4%s'52., Int T&'T 6365 Ttaly 7s '51. Italy Pub 7s '52 Japanese 535 ‘65 Japanese 6% s '54 Jugosl Bk 7s ‘57 Kan City Sou 3#'60, Kan City Sou 5580, Kan City Ter 4560, Kreug & Toll 58'59. Laclede Gas 5334 Laclede 53 s C'53 Laclede 538 D '60. Lautaro Nit 6s'54.. Leh Val cn 4s 2003, Lig & Myers 58 '51. Loew's 65 '41. = Long Isl rf 4549 Leorillard 7s44. LouG & E15s A L& N uni 4s'40 L&NG5SsB2003.... Lyons 6s'34.. McKes & R 5%8'50. Manhat Ry bn 45’90 Market St 7s A "40. Marseille 65 ‘34 Mex 5s A astd ‘4 Midvale Stl 5536 Milan 635 '52. . Mil ERy & L 5561, Mil El Ry&Lt 5s 'T1 MStP&SSMen 45'38 MK &T 1st 45'00. MK & Tex 5s A '62 Mo Pacrf 58 A ' Mo Pec 6s ¥ '77 Mo Pac 58 G '7! Mo Pac 5s H 'S80, MoPaclbs’s Nat Dairy 6% Nat Steel 68 N Eng T 1st Nw § Wales Nw & Wal NYC3Hs'T N Y Cent 4s . N Y Cref 0'&!220" NYC&StL 1st 65’82 N Y Edison bs B'44 NYEArf6%s'd1. NY NH&H 4345 NYNH&H 65 '48. North Am Co s Nor Am Ed §s C' Nor Am E 538 '63. Nor Pac gn 38 2047 o » @SR phaneBeSan~ Norway 5%4s"85... Norway 6s 44 . Oreg-Wash 45°61.. '58. Orient Dev 65 '53... Pac G&E 58 42 Paramount 6s°47.. Paris-Ly M 6s 6 Paris-Ly M 78 'l Paris-Or 5345’ Venn sta 48 '48.... Penn 4%s D '81.. Penncn 4 ‘80 Penn gn 41:8'65 Penn 4%s D 11 Penn 4% s'68. Penn 55’64 Penn 6145 '36. Penn P&L 4345’81, Peop Gas ref §s'4Y, Pere M 15t 58°56 Poland 6s'40...... Poland 7s '47. Poland 8s o Port Gn Bl 4 Ys Por RAm T 68 '42, Pos Tel & C5s'53.., Pressed C5s'33, Prussia 6s°'52 Prussia 6148 Public Serv 4s'7 G 4%a'T0 Pure 0:15%s 40, Queensiand 7s 41 ad gn 4758 A 97, m R 534 sA4Tww Rhinelbe U 7546 Rhine West §s'52 Rhine West 6553, . Riode Jan 6%3s'53. R Gr Do Sul 6568 RIAr& L 4%s 34, Rome 6%3'52 Royal Dutch 48 '45. St L&SF 48 A"50.. StL&SF4%s'TS, 8t L&SF 53 B '50. St LSW 1st 4s'89 Sao Pau s '40 Saxon P W 614851, Saxon 75 '45 Seabd A L 65 A "45. Sarbs-Cr-S17s'62.. Bhell Un Of1 5 . Shell Un O5s Shinyetsu 6145 '52. Sige Ol 6165 B’ 38, Sinc Of1 78 A '37 Sme Cr O 6%s 8 Sine P L 5342 Skelly Ofl 5% s 5 Son Bell T&T 58’41 SW Bell T 55 A ‘54. Sou Pac col 45 '49 Sou Pac ref 4s Sou Pac 4165 68 SouP 4%s'6) ww Sou Pac 4%s 81 | Sou P&OT 4148 A'77 cu Ry gn 43 '56. . ou Ry 618 56 4| StOINTGs46... StOl N Y 4%s'51. Sweden 5% '54 Swiss5%s Taiwan E P 5%s71 Tenn Cop 6s B '44.. Tenn El P 6s A '47, Ter As St L 4s'53., Tex Corp ev Tex& P6sC Tex&PisD" | Third Avrf 4s Third Av Toho El Pw 76 ‘Toklo 5%s ‘61 Tokio El Lt 6s 26% 8. T Utd King 6%s '37..144 1 Poom aoown 2 @B 10 18 16 » Y WU A BDG - - Ao nBe T na BaSae e ae SRasuBolenBaBuluno—a e Sws e I o 528 BReunRalroannReeaBenn NEW YOR 90y 99% 100% 100% 102% 102 37 46 8314 101% 1 83 00% % 99y 100% 102% 37 60 36% 38% 964 72 451 45% 28% 5% 1% 5015 5414 99 101 1014 34 101% CURB ISSUES DRIFT 10 LOWER LEVELS Public Utilities and Oil Shares Featured in Down- ward Trend. BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, April 19.—Stocks on the Curb Exchange drifted lower from the outset today, but trading continued slow. The market leader, Eleetric Bond & Share, was up & small fraction at the opening but later lost about half s point. Middle West Uldlities was & shade lower. Standard Oil of Indiana above the 15 level registered a trifiing ain. * Public utilities and petroleum shares led the forenoon descent today. Earn ings reports of companies in these two groups continued unsatisfactory. The fact that general business in March failed to show the usual seasonal up- turn was stressed by professionals. American Cigar with a gain of 8 peints and Edison Electric Iluminating Co. of Boston with & decline of more than 21 points furnished contrasts in early trading. International Petroleum with a turnover of more than 4,800 shares in the first half hour outdistanced all other issues in point of volume dur- ing that period. Standard Oil of New Jersey and Pan- American Petroleum, subsidiary of Standard of Indiana, for months have been working on an agreement for for- eign marketing. These negotiations began because of the threat of a tax on imports here. Under present dis- ions Jersey Stirdard would pure chase the foreign properties of Pan- American, which would mean that the former would become dominant in Venezuela, where it now holds Creole Petroleum, to which would be linked Lago Ofl. BONDS ON THE CURB MARKET. DOMESTIC BONDS. R High. Low. Noon. 4 Alabama Pw 4zs ‘67 15 Amer EI Pow 65 A '57 & E 55 2028 & L 65 2016 1l Mill 55 ‘48 4 as 55 B f]‘ Bln\‘afi‘; g;]le" 18 oston 55 "33 100%s 100% & L 55 A 2030 fi" " 4 ‘2‘: & 6213 i 55 83'y 88 26! i 73 P 8 P & L5t B 54 6 lependt "Oil" 6s '39 dngp PLL 55 A 157 nsull “Utilic 65 B nt Pw S 6 ‘3028 5 Manitoba Pw 5'as ‘51 6 Mass Gas 55 46 2 Mass ULt 5s A ‘49 3Mid West Ut 55 '32 cv 10 Mid West Ut 3s '34 cv 20Milw G & E 4'.5 '67 s 56 SAE 55 47 G&E 53 '48 Eng G&E 55 130 i Ene Pow 55 ‘48 ¢ ENg Pw 513 54 Ind B's 55 ¢ 68 v Ind PS 85 1Nor Stat Pow 345 '40 3 Ohio Edison 5560 10 Ohio Pow 4135 D '8 3Penn Elec 45 1 .. 70 1 Bhila Elcc iy 73 1Pow o N ¥ 3las 47 63 5 Proct & Gam 412 ‘47 1Pub 8 PAL 515 A '49 6 3Pug S PAL & 1Qunsh Gas 5t 2 Repub_Gns 65 T Eh R Shaw Wap 4122 B 8h 8 Ulen & 1Union E & ub Serv 55 B aldort-Astor st _Penn S5 2030 . 3 /e Tex Ut 55 A '57 5 FOREIGN BONDS 1Baden Con Mn 75 T < 12 Itel Sup Pow_s 2 1sarco Hyd El s s 46 Temnl Soc 6'as ww— With warrants. X¥ - Without Warrants. New When issued. w A58 Sales. High. 28 Low. Close. U S Rubber 5547 355 Un St W 6%s A'4T. Ud St W 6348 A'51 Unit 88 Cop 6s '37 Uruguay 6s'60. Uruguay 68 '64. . Utah P& L 58 '44.. Util Pw 5359 ww. Utl] Pow 5%3'47.. Vienna 6s ‘52 Va EI&Pwr 53% Ry & Pw 2 Va Ry 1st 58 A '62. Wabash 1at 58'39. . 39. 18 80 W w W Wi 1. West Union 5s '60. West Un 634536, . WEOB%s '3 ww, Wil & Co 1st 65 '41. . | fessional offerings. Bt Divideod Rate. A4S0, High. Low. Close. Ainsworth (k50e).. 1 6 AlrInvevpt...... Alumn Goods(60¢). Am Gas & El (31). Am Invest B Am Laun Mch 1.20. 25; Am Maracaibo. Am Su; or. Am Super 1st pf(6) Anglo Chilean Nitr, Appalachian Gas Arcturus Radio T. Arkansas Nt Gs A 1 s 2 AssoG&EAD5%. Ass0 Gas & E war. As80 G & Ect (8).. Atlas Plywood Atlas Utilities Atlas Ut{l pf A (3). Aviation New Eng.. Benef Ind Loan 1% Blue Ridge Blue Ridge pf (a3). Brazil Tr L&P (1). Buff N&E pf (1.60). Burma, Ltd rets 4c. Butler Bros....... Campe Corp Canadian Marconi. Caro Pwr&Lt pf(7) Cent States Elee. Chain Stores Stk Clev El Illu pf (6). Cleve Tractor..... Col Oil & Gas vtc. . Comwth Edison (8) Comwlth & Sou war Cons Gas Balt 3.60. Copper Range..... Cord Corp. ... Corroon & Reynol, Creole Petroleum. , Curtiss«Wr Cp war, Darby Petroleum. . Detroit Alreraft... Draper Corp (2)... East Util Asso (2). Edison Boston 13.60 Blec Bond & S new. Blec B&Spf (6).. Wiec B&E cm pf(6). Elec Pwr Asso (1) Elec Pw Ass0 A (1) Elec P & L op war. Emp G&F em pf(8) Emp I‘awfl (2,24) Europ E1 L.td A 300 Fedders Mfg (A). Federated Metal Fire Assn Phila 1, Ford Motor Can A. U. S. SHIPBUILDING IS WELL MAINTAINED Commerce Department Reports Show Domestic Construction Ahead of Foreign Industry, By the Associated Press. The Commerce Department reports that shipbullding in the United States is being maintained at a better level than in-foreign countries. ‘The decline in building here in the first quarter of 1932 was 1,000 gross tons, compared with a decline of 27,000 tons for Great Britain and Ireland. There was a drop of 77,000 tons in other maritime countries, exclusive of Russia. As a result of the declines, the ship- yards in the United States are only 165,000 tons behind Great Britain and Ireland, compared with more than 450,- 000 tons & {elr ago, when Great Brit-. ain and Ireland were building 34.5 per cent of the world shipping, as com- pared with 29 per cent at the end of the first quarter this year. The per- centage of the entire world output being built in the United States yards is now 16 per cent, compared with 11.5 per cent a year ago. Latest statistics show there were 372,973 gross tons of shipping under construction in British and Irish yards, 206,703 tons in American, 181,821 tons in Italian and 156,760 in French yards. Public Utility Earnings. NEW YORK, April 19 (Special).— Now that the overh gln situation with respect to the Middle West utili- ties and other Insull groups has been brought out into the open and the Elec- tric Bond & Share situation has been shown to be infinitely better than it has been pictured, Wall Street feels that holders of public utility stocks will be inclined to considgr earnings rather than listen to gossip about their prop- erties. These securities have stronger underlying conditions than any other TSome_of the utity reports be 3 Yy re] made for the 12 months te unrchln{ show a surprising vitality in revenues, considering the slowing down of in- dustry and the economies practiced by the individual householder. Northern States Power, for instance, today re- ports total income for 12 months about $900,000 in excess of the previous year. Louisville Gas & Electric shows an in- crease of nearly $250,000. People's Gas for the quarter ended March 31 earned a net income of $2.37 on its increased stock, against $2.65 the year previous. The Cities Service Electric Utilities earned last year $42,105,000, against $40,747,000 in 1980. New York Cotton Special Dispatch to The Star. NEW YORK, April 19.—Cotton prices teday opened 2 to 3 points higher. Trading was in small volume. Foreign demand was sufficlent to absorb pro- Trade buyers bid for May and July contracts. Opening prices were: May, 6.07, up 2; July, 6.25, up 2; October, 6.50, up 3; December, 6.66, up 3; January, 6.74, up 2, and Mareh, 6.91, up 3. Grain Market By the Associated Press. CHICAGO, April 19.—Jarred by stock market downturns and by bearish ef- fects of rain over part of the Winter wheat belt, grain values underwent fresh early declines today. A statement by Chairman Stone of the Federal Farm Board that he expected steady strength- ening of the wheat market and a rise of around 10 cents a bushel was without ana immediate apparent influence. pening 'sa% off, wheat afterward sagged further. Corn started lsal, down and continued to weaken. — FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal gold Seliing checks value todi zloty Copenhagen, crown.. Oslo._crown.... Stockholm, crown . Montreal. 9% di Street car and bus conductors in Glas- gow, Scotland, have been instructed not to accept as fares any coins with holes crooked coins. D‘ Stock and Sale— Dividend Rate. Add. 00. Hish. Low. Close Ford Motor Can B. 25: 7 Ford MLtd........ Foundation For Sh. Fox Theaters (A).. General Alloys. ... General Aviation. .. Gen Empire Cp 40c. Gen Theat Eq cvpf. Glen Alden Coal. .. Globe Unwrit k20¢. Goldman Sachs. . .. Gorham v.t.c.(1.60). Gotham Knitback.. GtA&P Tnv 16Y. 40s Gt A & P Tea pf(7) 20s Grief & Bros pf(7). 258 Gult Oll of Pa Hecla Mining . Holling Goldt70c.. Horn & Har¢ (2%). Hudson Bay Min. .. Humble 01" (2).... Hygrade §lvan 13, 1mp Oil Gin rg 50c. Ind Terrfll Oil B. . Insull UfInv 2d pt.. InsCod Am (2)... Int Petol (1).. Int Superpower (1) Intersate Eq cv pf. InterstPw Del pf 7 604 Irving Alr Ch(40c). ItaliapSuperpw A, Kolst/r-Br Am sh.. LackSee (4)...... Lakg Fdy & Mch.. LehCoal & N (1) Long Isl Lt pf (7).. 10; Louslana L & Bx.. Meal Johns (13%). Mid West Utilities iler & Sons..... Mim Honey pf (6). 10 Miting Corp of Can MaKans Pipe L... Nal Aviation. . Na Bnd & Sh (1) NafDair NafElec Pwr (A).. Nal Investors. 2 Neak Invest war,.. 2 NafShort Trm pfe 1 Nefon Herman. .., ~ 2 Fmrores i mtnrs @ T AT i B R e O 10010 et v pg 12 4 4 L gorzzy st 132 116 96 PEA (7). 1758 9 Neyberry J J pf(7) 100s Nev Eng Pw pt (6) 608 New Mex & A Lnd. 15 Nermont Mining N T Shipbuild. 5 N YTel pf (83).. 255 Nig Hud Pwr(n).. 2 Nigara H Pw(40c) 47 NigHPwAwr... 1 Nigara Share, Md. & Noth Europ Ofl. 3 Ohy Copper... Pad3&El 18t pf 1% Parer Rust P (3). 50s Penoad Corp. ..... Pent MexFuel p Pen W & Pw (3) Peperell (4). Philp Morris. ..... Phanix Secur Corp Pil¢ Radio Tube A Pitt Plate G1 (1).. Ploeer Gold (12¢) Plyjouth Ol k25e. Praj&Lambert(2). Prientfal Inv. ... PulUtil Hid war. Rado Prod...... Relince Intl A ., Repblic Gas. Rubroid Co (4) 9 - S Emtom® o Comand® nRRe®nD R chma ek Prod (1) Seabgrd Util (28¢) Segalock & Hrd.. Beleckd Ind. Sherin Wil Southastn G&W A SoutiPenn 011 (1). Sou(1Ed pfB1% Southind Roy 20c. Standifolding Stand}il Ind (1).. Stand il Ky (1.60). Stutz btor Ca: Co (2) o 3 e Srormmanis Swift Swift 1tl (+4) Swiss m El pf (6 Tampalilec 2.24. . . Tech Hghes (60c) Texon {1 & Ld (1). Transbx DLPS. Tubizehatel B... Un Gasf Canada.. United ounders. . United United hs war. United fs pf (7). Unit LtPwr (A).. United &P pf (6). Utd MillProd. ... Unit Shy Mch 2% . 17i US DaitA (6). 1 US Dai{B. U8 & Inf Sec. U S & In 15t pi U 8 Lindpf. U § Plagfard Un Verdiiext (50¢) mun'a:u o 0 Ut P&RT (). Utility Huities. .. Util Equlies pf 5% WalgreelCo. . Walker ) pf Wenden bpper. Woodleytetro! WoolwilLtd kithe 20 Wright Hrg 13'4c. lEL Y" Oll &as...... 6 Dividendrates 1n_doj uazterly \r semi- iyidend Partly e: b cash or oe! in stoek, oc! st 18 Ao stock. st Plus 6 Plus 2% lus D Bd last’ ye 1% 1105 13% 41 1095 13% " . 2: ) 250s m ock. , b Eayi e bustment dividend. © { 215 41 FINANCIAL. {8 STILL SOUGHT Legislators Continue Efforts to Stabilize Quotations on White Metal. BY CHARLES P. SHAEFFER, Associated Press Business Writer. Despite failure of efforts thus far to | enact curative legislation, siiver remains | & moot topic on Capitol Hill, In a congressional discussion of the metal, Senator Pittman. Democrat, of Nevada, indicated that efforts to secure | + | an international conference on the sub- 144 315 - Jject would be replaced by activities to secure legislation authorizing the pur- chase and coingge of silver which would | restore its price to 60 cents an ounce. ““We cannot get the conference, so we have quiet trying to do that,” said Sen- ator Pittman. “All we can do is to re- move or offset the unnatural dumpms‘ of silver by India. We could stop it by a conference, but we cannot get a con- ference. We can buy with silver certif] cates the American supply of silver nt[ the world’s price and store it, redeem- ing the certificates if presented with | silver dollars. That would restore silver to 60 cents an ounce,” he said. ’ Senator Pittman criticized the Treas- | ury Department, for classing silver as a | commodity, while he claimed that it is | money and more valuable than a com-l modity. | Senator King, Democrat, of Utah, has | | suggested addition to the metallic base | of 40 to 50 per cent in silver. | John Janney, economist and mine | operator of Nevada, favored action by | Congress for the Government purchase and coinage of silver before the House | Committee on Coinage. He did not| think an international conference would | aid the United States as such a con- | ference would not stabilize silver as & | basis beneficial to the country. STEEL KINGS HESITATE TO FORECAST BUSINESS By the Associated Press. HOBOKEN, N. April 19.—A vet- | eran king of steel yesterday laid aside | his scepter and ;!llnqullhed his thmneI 1 fter 50 years' labor | in the hard metal industry, was for-| mally retired as president of the United States Steel Corporation, at the 3lst| annual stockholders’ meeting, held in| one of the rooms of the Hoboken Trust Co, At the same time the appointment of William A. Irving as his successor was formally approved, Myron C. Taylor, chairman of the board, presided at the meeting and | both he and Farrell, as well as the | new presigent, voiced the h that next year, at least, would witness a change in the business picture for the big steel corporation. Definite pre- dictions. however, were avoided, either as to the present 50-cent gquarterly dividend rate or wages. rly dividend action is due a week from | % | Stocks, Bonds and Wheat. | NEW YORK, April 19 (Special) —In previous rallies ;%h have been in- fluenced favorably by the recoveries in the bond market, as in February, and the rise in wheat, as in Oc- by sharp 1514 | tober last year. Both the bond market s | market *Ex payment. Plus 4% in stock. 5 wheat market have indicated & pront rallying tendency with-| out so far mal much of an impres- | sion on stocks. further influence e 1 L, S| on Wal analysts | and the Capital and Surpius, $3,500,000.00 The Cash You Have Available —for banking may not be great in amount, but just the same it'll help bring busi- ness back, it kept in circula- tion. Bank ecredit is the backbone of business . . . your cash strengthens the credit situa- tion—means jobs for jobless workers — quicker business revival. 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