Evening Star Newspaper, May 23, 1932, Page 15

BONDS STEADIER AS TRADING BAIS U. S. Government Issues Dis- play Better Tone in Larger Turnover. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YCRK, May 23.—Although soft | spots were still present in the corpora- | tion list, the bond market as a whole was steadier today. Trading was some- what more active than cn Saturday, but hardly as heavy as on Thursday and Friday of last week. The market opened with a fairly firm tone, United Stetes Government bonds lending some strength to the rest of the list. Treasury 3s and 3!gs and ‘Treasury 4%;s had substantial reco eries which left them about 2 to 2% points above their lows of last week Liberty issues were turned over in vol- ume at virtually unchanged prices. The strength in Governments was attributed to purchases by the Federal Reserve for its own account and for the account of the United States Treasury sinking fund. Since commercial ban and other investing institutions were ! offering Governments in f: si amounts, the turnover was considerable and it accounted for about half of the bond trading on the Stock Exchange. Municipal issues were still si-cny with New York State 4s reported b on a 3.45 per cent basis. Westchester County sold $2,543,950 3 per cent cer- tificates of indebtedness dated June 5, 1933. These are to be reoffered on al 250 per cent basis. This is an excel- lent illustration of the current demand for short-term municipals, ‘The new bond pool—it is still in the organization stage, and it is doubtful whether the Bankers' Committee in charge will take definite action before the end of the week—will confine its activities to prime railroad, industrial and utility bonds. By creating a de- mand for these, Wall Street believe: the pool will enable various corpora- tions needing funds to sell long-term bond issues currently being held off the market. In anticipation of such buying, speculators and investors were bidding briskly today for %ol Atchison general 4s. Norfolk ern 4s, American Telephone 5s. solidated Gas 5'.s and 4'.s, Standard Oil of New Jersey 5s and General Mo- tors Acceptance 6s. Washington Stock Exchange SALES. ‘Washington Gas 6s “A"—$500 at 98. ‘Washington Rw. Elec. 45—31,000 at 7934, $1,000 at 793 Capital Traction Co. 710 at 12%. . AFTER CALL. Washington Gas 5s—$1.000 at 101. Capital Traction Go.—14 at 127 Bid and Asked Prxces. BONDS. PUBLIC UTILITIES. Amer. Tel. & Tel. 4'2s '3 Wash., Alex. & M| Washington Gas 4! Washington Gas Wash. Gas 65, Wash' Gas 6s. s Wash. Rwy. & El MISCELLANEOUS. Barber & Ross. In Chevy Chase Ciub 5 W. M. Cold St STOC KS. PUBLIC UTILITY. Amer. Tel. & Tel Wash. G Co. N. & W. Steamboat (12).. Eower €72 ptd Power 513 Wash. Rwy. & Elec. com Wash. Rwy. & EL pfd. (5) NATIONAL B\ux . T Misprice. Asked. Columbia (12 Commercial (; District (8), Fed-Amer Natl ‘Bk. Liberty (7% Tincoln (10): Metropolitan Risgs (1) 19 &'Tr."(3) . 19 (9¢) Wishineton " (iai: TRUST COMPANY. Amer. Sec. & Tr. Co. (15) Natl.'Sav. & Tr. (123) Prince Grorges Bk. & T Union Trust (8s).. Wash. Loan & Tr. (14). SAVINGS BANKS, Bank of Bethesda (65) Commerce and Savings East Washington (12). Potomac (10) Security Sav. & Com. Bk. Seventh Street (12) United States (30) Wash. Mechanics (20! FIRE INSURANCE. American (12 Al i’ 28 TITLE INSURANCE. Columbiu (6h) Real Estate (6h). z MISCELLANEOUS, Barber & Ross, Inc. com...... . Col, Medical Bids. cwn [T Natl Mige. & Inv. prd. Peoples Drug S!ures nm Feal Est. 8) Il 1.20) Wawd, & Lothrop pta. (7 *Ex. dividend. bBooks closed. n25c extra. 130 extra. £17 extra eliz% SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co.) Bid Offer. 652 6975 42 44 02 102% 76 763 395 R 3% extra. Allis-Chalmers Co, 55 1937 3 Belding Hemingway Co. 65 1936 Bethlehem Steel Corp. ‘55 1936. Canadian Nor, Ruy. 418 19 Chi. Northwestern R 5 Colorado & So. R Commercial Credit Co. 5'2s Delaware & Hudson Co. b5 Denver & Rio Grande 4'.¢ Gen. Mot. Accep. Corp. 6s General Petroleum Corp. 55 General Public Service 5'.s Grand Trunk of Canada 65 Houston E. & W. Texas 55 Humble Oil 5'2s 1932 Laclede Gas Light Co. 55 1934 Louisyille & Nashville 55 1937, New York ‘Cent. & H. 4 o5 1 Portland General_Elec ‘Republic Iron & Steel 5s 1940.. . Sinclair Crude Oil. 5'2s 1938 Southern Pacific 5¢ 1934 & St. L. R. & G. 45 1933 45 Thion Elre L0 & Fow. 5 1933 Union Oil Co. of Calif, 55 1935 ..... Virginia Rwy. & Power 5s 1934 97 Wabash Rwy. Co. 55 1939 . FOREIGN EXCHANGES. (Quotations furnished by W. B Hibbs & Co.) Nominal gold Sell; nrdch ecks , today. London, pound Paris, franc Brussels, beiga Stockholm, Adontro ol 268c treal, 13%% discount. THE EVENING STAR, WAS SHINGTON, NEW YO BOND STOCK EXCHANGE Received by Private Wire Direct to The Star Office. LIVE STOCK PRICES IN HIGHER RANGE|3: Decrease in Receipts During Week Proves Aid to Market. UNITED STATES. \Sales are In $1.000 ) Low. Close 1009 10012 1011 1011 10110 10116 1022 1028 902 9017 91 9124 966 96 14 9612 9624 966 968 9730 982 100 1009 . 10312 10228 1036 Sales. High. 8 19 18 Sales. High. Low. Close 1 334% 334 43% Int Mer Mar 634 Int Pap ref 6s A" | Int Pap 68 '65. | Int Ry C A b3*12 Int Tel&T ¢%s a's. 9224 96 16 97 9 7S 3%s M 41-43. TS 3%sJ 40-43.. 3% s 43- . Italy Pub 7s Japanese 53%s '65. . Japanese 6%3°54.. 1 Jugos! Bnk 78 '57. Kan C FtS&M 4s ‘3¢ Kan C P&L 4%s ‘61 Kan City Sou 38'50. Kan City Ter 45'60. Karstadt 6s'43.... Kend 5%s'48 ww. . Kreug & Toll 55'59. Laclede Gas bs l‘. Laclede 5%s C' Laclede 535 D60, Lautaro Nit 6s ‘54, Lig & Myers 7s ‘44, Loew's 68 '41. Lorillard 7s 4. BY FRANK 1. WELLER, Assoclated Press Farm Editor. The about-face of the cattle market has brought scme hope for further de- pressed sheep and hog prices, but it still is a question whether the upturn re- flects buyer belief that live stock values are low enough or merely some vagary of the trade. In the face of reports that dressed beef was not holding even the low levels to which it sank last week, practically all weights and grades of steers and long yearlings worked nearly 50 cents above the Chicago close of a week ago. Receipts Reduced. Usually the live market follows tides in the dressed trade, but all buying interests seemed to take a hand as receipts at the 12 principal markets were cut to 117,900 head, compared with 125,600 the previous week and 147,400 for the rame period last year. In ordinary times the reduction might not mean much, but right now it ap- pears to have as much .slimulzlmg effect as a similar increase in receipts has proved its ability to break the market. : Also, there was a little rore variety this week, not too many of any one welght or grade being included. There was not the beef tonnage represented, either, and buyers had to delve into the lightweight group for poundage and numbers as the comparatively small supply of medium and heavyweight beeves cleared shortly after the noon hour each day. On Wednesday of last week the steer and yearling market hit the lowest level it had reached in probably 25 years, and there was talk that reaction was overdue. For the most part the bulk of the run cashed at $5.25 to $6.75, Chicago, and the first Texas grassers of the season brought $4.75 to $4.90. Light mixed and heifer yearlings backed down un- der excessive supplies to close steady to 25 cents higher, while the beef cow run shut down to a minimum for a sharp 50-cent increase. A 40.000-head reduction in hog re- ceipts did not stop the parade into new low levels for the century, as prices slipped another 10 to 15 cents at Chi- cago. and packing sows lost mostly 25 cents. The top ranged from $3.70 on Monday to $3.55 onmr Thursday, com- pared with last year's top of $7. The average cost for the week at around $3.25 was just half that at this time a vear ago. At $390 last week the top had gone back to 1898 for an equivalent. Decrease in Orders. The dearth of shipping orders was traced to the slow fresh-pork trade at most of the Eastern consuming centers. Pork provisions followed & course near the low of the year. It was noticeable that the sharp in- crease in packing Sows has started a week or two earlier than last year. Heavy butchers seem to be dwindling and as the end of the old-crop move- ment comes in sight buyers are willing to take the better medium weights nearer the top. Unsatisfactory dressed outlet cut the lamb market $1 under the previous week for a second consecutive time, despite 47,000 fewer head of sheep and lambs around the circuit. Old-crop lambs were under pressure because of age and weight, but Springers, too, were punished for earlier out-of-lineness. A sizable quota of Spring lambs ar- rived from Missouri, Illinois and other corn belt Stafes, along with direct shipments from Kentucky and Ten- nessee, and the late practical top at Chicago fell to $6.25, as against $8 a week earlier. CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. Abitibl P&P 5s A'leghany Cp 5544 2 11 w Do Am Metal 535 "34 Am Sm&Ref 63’4 Am Sug Ref 6s°37 Am T&T 4%s°39 Am T&T c tr 5346, Am T&T deb 58°60. Am T&T deb 58 '65. Am T&T 53%s°43.. Am Wat Wks 5s'34. Am Wr Pap 6s°47.. Antioquina Ts '45 Argentine 5%s 62, Argent 6s’ 61 May. Argentirie 63°69 Ju Argentine 6s *59 Oc Argentine 6s A ‘67, Argentine 6s B '58. Arm & Co 4%8'39 Arm Del 5% Atchison gn 48 95 Atl Gulf& W1 58'59. Atl Ref db 5837 Australia 4% 5! Australia 5355 Australia 857 Austrian 7s'43 Austrian 7s 5’ B&O 1st 4s"48. B&O4%s33 B B McKes & R 5%8'50. Manhat Ry cn 45'90 Spal opvpomassmoa 14 Milan 6%s’62. Mil ERy & L 6861 Mil El Ry&Lt 6s'71 MStP&SSMen 4s'38 MStPSSM 5s gtd'3s MSP&SSM 5348 78 MK&T 1st 4s'90, Mo PacbsG'78.... Mo Pac 5s H'80, Mo Pac I5s'81.... Mo Pac 5448 A‘49. Mont Pow 68°43.. . Mor&Co 1st 4%s'39 Nassau Elec 4s ‘51, Nat Dairy 6% #'48.. Nat Steel 53 E N Eng T 1st 58°52.. NOT&Mb58B 54, Nw S Wales 65 '67. Nw S Wales 685 N YC3%s'97 N Y Centdb 48 '34. N Y Cent 45°98.... N Y Cref 4%s 2013 NYCrf4% N Y Cref 532013 N Y Cent db 63°35.. NYC&StL 4%s'78. NYC&StL5%SA'T4. NYC&StL 1st 6332 Y Edrf 6141, NY EL H&P 4s°49. NY NH&H 43567, &0 458’60 & O 1st 5848, 1 & O ref 58'95. B&Oref5 D2 B&Oref 6sC B & O P&WV 4s Batav Pe Con nuowaaflBoNem s ans Belgium 7865 Belgium 7s '56. 0 Benef Loan 6s "46. Berlin Cy El 6356 BerlrCityEl615s BerlinCityEl6135'59 Bos & Me 53°67..... Beth St rf 5s '42. Bolivia 7s 58 Bolivia 7869, Bollvia 8s 47 Bordeaux 63 ‘34.... Brazil 614s°26-"57.. Brazil 614s "27-'57 Brazil 8541 Bklyn Ed 58 Bklyn Elev 6% Bklyn Man 6s A Bklyn UnGas5s'45. Budapest 6s ‘6 5. Buenos AR 656 Buft Gen El 4%s'81 B R & Pitts 434s'57 Bush Ter con 5s'55. Bush T Bldg 55'60.. Canada 4s* Canada 43%s '3 Canada 58 '52. Can Nat Ry 4% 8’56 Can Nat 4%45s"68... Can Nat 55 ‘69 July Can Nat 5s'69 Oct. Can Nat Ry 4%855 Can Nor 435 °35. .. Can Nor db 6145 '46 Can Nor deb 75 '40.. Can Pac db 4 Can Pac 55 ‘54 Cent 11 E&G 5351, Cent Pac 1st 4549, Cert-td db 5345 °48. Ches Corp 5s°47..., C&Opgends’92,, Ch & Oh con 55 '39.. CB&Qgn4s’s8, CB&Qrf5s’'T1 CB&Q 11dv 335549, Chi & Est 111 5s'51. Chi Grt West 45'59 C M & StP gn 4589, Chi M&StP 4%s E. C M StP&P §S°75. . CM&StPadj Chi & NW 4% Chi Rwys 5527, . .. Chi RI&P gn 4s'88., Chi RI&P rf 45 °34. 26% 107% 1077 10778 921 93% 4T% 4TH 57 60 36 36 484 50 1004 100% 1004 104% 1044 104% 7 & Norf Sou ref 5561, Nor & Wn cn 4s North Am Co ks 8714 " 677% Ti% 19 96% 52% T3 554 87% 71y 68 1% 15 961, 5214 T34 5613 95 Nor Pac 1l " Nor Pacri{ IIZN'I. Nor St Pw 53 A "41. Nor St Pw 6s B *41. Norway 5s5°63. Norway 5'&"85 102 Oreg-Wash 4s’61.. Orlent Dev 5148’58, Orlent Dev 53... Pac G&E 5s°42. Pac T&T 1st 5537, Pac T&T rf 53°53.. Pan Am Pet 65°34.. Paramount 6s ‘47. . Param-Pub 5% 50 Paris-Ly M 6358, 1014 1021 98% 101% 16 16 1037 %s 6! Pathe Exch 7s” T, Penn sta 4348 Penn4%s D Penncn 4%s Penn gn 41365 Penn 4%s D Penn 53°6¢ n gen § Penn 614336, Penn P&L 4%s Peop ref 58'4T.. Peru Ll . Phila Elec 4s'T1 Phila & Read 6549 Phillip Pet 5% s '39 Pilisb F M 6543 PCC&StL5s A" oo [PPFIUR < —TRUNEN = FET A Py NEW YORK, May 23.—The following is a summary of important corporation news prepared by Standard Statistics Co., Inc,, New York, for the Associated Press: Amoskeag Manufacturing Co. incom- ing orders unsatisfactory; has curtailed operations. Durham-Duplex Razor Co. declared quarterly dividend of 25 cents on $4 prior preference stock; paid 50 cents March 1. Gold Dust Corporation earnings in first four months covered current divi- dend rate. Hiram Walker-Gooderham & Worts, Ltd., declared 25-cent initial quarterly dividend on preference stock. New York & Richmond Gas $6 pre- ferred share earnings quarter ended March 31, 1932, $4.75. Paramount-Publix Corporation—Re- ported negotiating sale of Famous Play- ers Canadian to Canadian group. United Cigar Stores of America— Bankruptecy receiver appointed for United Stores Realty Corporation, a real estate subsidiary, by Federal Court, New York. United States Gypsum Co.—Gets or- der for 10 trucks and 10 trailers; over $100,000 involved. Atlantic, Gulf & West Indies Steam- ship Lines to establish Baltimore-Ber- muda passenger service. Commercial Credit Co.—Subsidiary gets exclusive contract to finance Ford car sales in Canada. Crucible Steel Co. of America—Em- ployes strike at Jersey City plant be- cause of wage cuts. Fox Theaters Corporation—Receiver- ship action filed against company by stockholder; alleges misappropriation of assets and mismanagement. North American Aviation, Inc., sub- sidiary, Eastern Air Transport, to dis- continue New York-Washington airmail night line. United Shoe Machinery common share earnings, year ended February 29, 1932, $2.94, vs. $3.31 in year ended Feb- ruary 28, 1931. American Woolen Co.—Wages at Wood Worsted Mill to be cut 20 to 25 per cent. Consolidated Railroads of Cuba took no action on preferred dividend ordi- narily - payable July 1; paid 50 cents April 1 and $1.50 quarterly prior thereto, New York, Ontario & Western Rail- way April net operating income, $226,- 488, vs. $72,548; four month, $675,043, vs. $352,861. United Light & Power common share e.nrntnzu on average number of shares tanding, 12 months ended March 31 1932. $1.11, vs. $1.78. Delaware, Lackawanna & Western Railroad April net operating income off 30.5 per gent, four months off 22.9 per cent. Motor Wheel Corporation deficit, quar- ter ended March 31, 1932, $228,609, vs. net income $44,792, equal to 5 cents a common share. ) 855 Chi Un Sta 5s B'l 6!. Chile 65 '60. Chile 66 Chile Cop ab Chi Mt Bk 6% 61 CinUnTrust 55 2020 Clev Ter 5%s A '72. Cologne 6%s '50. Colomb 6561 Jan Colomb 6s ‘61 Oct. Colo & Sou 414535, Colo & Sou 4% '80. Col GAE 5a'52 May Porto Alegre 8s'61. PosTel &C il '58.. Public Serv A SN HNG SR BN~ NS Pure O11 5%s 37, Queensland T Queensiand 7s°41.. Rem R 6% IA‘I'I" Rhinelbe U 75’46 Rhine Ruhr 3 Rhine Wi Rhine Wi Rhine West 78 ’50 R Gr Do Sul 68 Rio,Gr W 1st 433 Rio Gr W elt 484! Con Pow Japan 7s Copenhag 5s ‘52 Cuba 53s '45. Cuba RRrf T%s°36 Cuba Nor 5%s 42 Czecho 8s'51. Del&Hud ref 43 *43. Denmark 4%s'62.. Denmark 5%s '55. . Denmark 6s '42, Denver Gas §s'51 D& RGr4%s'36 D&RG W 53'5 D&RG W 53’18, Dodge Bros 6s "40 Duquesne 4%s '67 Dutch East I 68’47, Dutch East I 65'62.. FErie con 4s'96. Erie gen 4596, Erie ref 55°67 Erie ref 53’75 Finland 6%s '56 Finland 7s ‘50 Fisk Rub 8s’41. StL IM R&G 45'33 St L&SF 45 A “50. - = ~ Shell Un O1l 58°47. Shell Un O58'49ww Sinc Of1 I*IB' 38 Sinc Oil T8 A3 Sine Cr O “l @ ol amBoauanSanh awmoe N NOHO Haamm- ad Soissons 6s 'S Sou Bell T&T 58’41 SW Bell T 63 A‘N. Sou Pacref 2 French Go T%s 'l . Gelsenk’hen 6s'34. . Gen Baking 5%s '40 Gen Motors. Gen St Cas 5%s'49. Ger Cent Bk 68 '38. Ger Cen Bk 65’60 J. Ger Cen Bk 6360 0 Ger Cen Bk 7s'50 Ger Gov %38 '66... German Rep 78°49. GoodHopeS&]I 78’45 Goodrich 6s 45.... Goodrich 6%s 47 Goodyr Rub 5 Grand Trunk 6s ‘36 Sweden 5% Swiss 5%s 46 Talwan EPI%I"H Third Av adj 55 °60. Teb P,NJ 6%s 2032, Toho El Pw 63’32 ‘Toho El Pw 7s 56, Grt Nor gn 7s '3/ Greek 65°68... Hait! 6s°62. .. Hudson Coal 5s'62. Hud & M adj 58 '57. Hud & M rf 58°57 Humble Oil 5’37 Humble O 53 '3 Hungary 7%s 44 111 Bell Tell 68 '56 111 Cent cl tr 43 'S Il Cent cl tr 45 53, 111 Cent 4% '66. 111 CCStL&N 4%s.. 111 CCStLENGS A. . Inland St 43%s A'78 Int Rap Tr rf 5s°66 Int Rap Tr ‘66 sta. . Int Rap Tr 6s'32. Int Rap Tr7s'32. Int Cement 5s '48.. Int & Gt N 58 B '56. Int & Gr Nor 68°53. Int & G Nad 6s°52. Int Hydro E1 6844, Int Match bs "41.... Int Match 58°47.. 101% 101% 101% 90% 90 90% 60% 601 60% 5% 16 75 6 65 65 6815 68 68 1:3% lgl% 103% - Unit Drug 5 3. Utd King §%s°37 U S Rubber 68 611. o Sales. High. West E1db6s’44.. 3 91 West MA4sA'52.. 6 39 West Uncol tr 55’38 1 54% West Union 5s'51. Low. Close, 91 Bubiron ruwa alrrvanafoatas Util Pow 6%8 47, Vienna 6s52. Va EI&Pwr 6% s '¢2 Va Ry & Pw b Va Ry 1st 58 A '62 Westphalia 6s '53 WEOS5%s'37 wi Wick Sp cn ct 7s'35 Wis CentTm 4s '36. 34 29'/. Yokohama 6s "61 2 Bln 10 48% 31 YsstaS&TsB70. & 50 [ Balesin DOMESTIC BONDS. i se. High. Low. Clos 5 Chic_Ry cod 55 20: 1Cin 8t Car 5728 A ! 24 Cities Service 5s '50 B Commity TaL 3svsd 9 Comw_Sub 5%as 20 Consum Pow 4'ss '58 93 2 Consum Pow 55 '36. . E 55 A ‘58 s, 40 5 2 Edis E Boston 5s 33 10130 23 Elec P & L 55 A 2030 S Empire Dist E1'bs 53 4 14Empite O&R 5155 '42 1 Firestone C M 55 '48 63 3Gatineau P 65 B ‘41 4 5Gen Mot Acc §s ' 5Gen Mot A 6 2Gen Pb 4Gen Pb UL 6lus 3 Gen_Refractor 5s ' B Georgia_Power 55 2 Grand F&W 6s 4 15 Gult Oil Pa 55 '37 1Gulf Oil Pa 55 '47 1 Hood Rubber 5'zs M 4 Indnap P&l s i Sec s E 31 10 Intern Sec Am 5s '47 5 Intersta Power b5 '57 2 Intersta_Power 6s 10 Interst P 8 41.s 58 F 4 lowa-Nb L&p s Bsx 2Towa Pw & e PELS AN 16Nat P 8 55 '78...... 1Neb Pow €s A 2022 § Nebraska Pw 4735781 & 2, ! mgoi" . 8‘??92?““’“% 3 uthw Nat G 65 '43 16 thw P&L €. A mm 5 i3 oy 51 e e bt e B s a0 B b B PONOBBRND: t <cdaca: @ o Sph Ber 5108 A 48, aldorf-Astor 7s Ward Baking 65 '37.. 19 Wes Tex Ut 85 '57. FOREIGN BONDS, 1Arg Mtg Bank 7s '48. 9 Arg Mtg Bank 7s '47 8 Bogota Mtg Bk 7s '47 24 5 Buen Air Pr Tigs '47. 3 4%, 53 SNSTILRRERALNNY - 8 0 | ing. 11 Russ 8128 ctf 1 Bans Besin Gon 75 38 FEST W Without warrants. Fi-When issued. - PARIS BOURSE PRICES. PARIS, May 23 (#)—Three per cent rentes, 73 francs 20 centimes. Five per cent loan, 96 francs 35 centimes. Exchange on London, 83 francs 23 centimes. The dollar was quoted at 25 francs 33%; centimes. Market Averages By the Associated Press. STOCKS, HERG . EESEaaed =] £255 Gl ESEEE 8 gEEeeSiznncs §° BEgREEssRES 4 wnwo® Sazaigy SEsds 82%8!352288_ | Am Cities P& L B. { Cord Corp. . | Elec P & L op wur. Received by Private Wire Stock and Sale— Dividend Rate. Add. 08. High. Aluminum of Amer 1008 24% Alumn Googis(60¢c). l;l !l)% Am Cyanamid B 2% Am Founders. Y% 2314 ‘Am Maracaibo. Am Superpower. Am Super 1st pf(6) Arkansas Nat Gas. Arkansas NtGSA.. Ark N G cu pf(60c). Armgtrong Cork. G&EAbS%. AmroG & Eot (8).. 268 Atlas Utllities..... 59 Atlas Util pf A (3). Bellanea Afr v.te... Benef Ind Loan 1% [ Bliss Co (EW). Blue Ridge Blue Ridge cv pf a3 Brillo Mfg A (2)... Brazil TL&P (b8 %) Bunker Hill & Sul. Carnnllon Co (1%) . 158 Centritug Pipe 60c. Cities Serv (g30c). 128 Cities Svepf (6)... 3 Col G & Ecv pf (5) 908 Col Oi1 & Gas vtc.. Comwlth & Sou war Comunty Wat Sve. Corroon & Reynold: Creole Petroleum Crocker Wheeler. .. Cusi Mexicana Min. Deere & Co. Detroit Afrcraft. Doehler Die Cast. .. Dubilier Cond & R. Elec Bond & Share. Slec Bd & Sh pf (5) Elec B&S ptf (6). © e e Elec P&L 2apf A 7. 100 c Shareholding. 2 &F em nn 7) 505 mp Pow pt (2.24) 2 ans Wall Lead. 1 | Flat receipts. 1 3 Ford M Lud. 3 General Alloy GenG&EcvptB6. Geldman Sachs. . Gt Atl & P Tea 162,508 Gt A &P Tea pf (T) Groc Strs Prd vte Gulf Ol of Pa. Horn & Hard (2%). Humble Oil (2).... Imp Qi of Can S0c. Insull In . Ins Co N Am (2). Insurance Sec.... Int Petrol (1)... | Italian Superpw A, Lion Oil & Refin. .. | Lone Star G n(60c). | Long Island Lt 60c. Long IsI Lt pf ¢7). Louisiana L & Ex.. Mapes Con Mfz(t4) Mavis Bottling A.. Mid Sta Pet vtc A. . Midl West Utilities Moh Hud P1st pf 7 25 6 1 8 204 1 4 1 1 1 9 i 1 1 1 s 2 1 6 1 2 s “ | Stand P&L B (2 PINANCIAL. N. Y. CURB MARKET Direct to The Star Office. Stock and Bale— Dividerd Rate. Add 00. High. Mountain Prod 80c 4 5§ Mount St T&T (8). 10s Low. Close. 3 atl Fuel Gas (1), Nat Investors pf. . Nat Sve Co pf (h3) . NatlSugar NJ (2). 1 Natl Transit (1)... 1 New Eng Pw pf (6) 308 New Eng T&T (8). 50s New Jersey Zinc2. 3 Newmont Mining. . N'Y Shipbuild..... N Y Trann (kie). Niagara H Pw(40c) Ohto Copper. Outboard Motor B. Pacift West O11. Penroad Corp. Pllot Radio Tube A Ploneer Gold (12¢) Pitney Bowes b4 % . Plymouth O1l k25c. Fratt&Lambert(2). Prudential Inv, Pure Oil pt (6). Radio Prod..., St Anthony Gold. St Regis Paper. Salt Creek Prod (1) 3% Secur Allied (1).... 5 5 Segal Lock & Hrd % Selected Ind.... Sentry Saf Control. Y Shawn Wat&Pw(1) 9 } Shenandoah Corp. . % +| Singer Mfg Co (8). 81 Sou Cal Ed pf A 1% 23% |ScuCalEd pf B 1% 2U’. | Southern Corp..... | Svanish & Gen rets. Spieg May Stern pf. Stahl & Meyer Inc. Stand Oil Ind (1).. Stand Ofl Ky (1.60). Stand Pw & Lt (2). 2 . 100s 3 3% 1% 1% 3 2 6 10 3 46 Stutz Motor Car. Sun Investing Sun Investing pf. wan Finch Oil pf. a0s S) racuse W Mch B. Tampa Elec 2.24 Tastyeast. Tech Hugh ‘Technicolor | Texon Oil & L.a (l). Tobacco Prod Del. ., | Todd Shipyara (2). Trans Air Trans. United Founde | United Gas pt ( Unit Lt&BEwr (A).. United L&P pf (6). Unit Shoe Mch 214 . U'S Elec Pwr ww. U S & Intl Sec. JS & Intl 1stpf. ., | Un Verde Ext (50¢) UtlP&Lt. Vick Financ Walgreen Co. .. Winnipeg E| % | Wright Harg 1235¢. Dividend rates ln dol! dnvflrnd VFlrlly exxn e Adlunmenz dividend. in s'ock. “}%‘“! 2"‘ 11 i 1 4 lus 2% 1in stock. ln «mck m Plus 3% In stock. n Plus lfi H _:JAPANESE MEETING IN TEREST ON BONDS | Recent Decline in Market Is Laid | to Military Operations in Manchuria. BY VICTOR EUBANK. Associated Press Financial Writer. NEW YORK, May 23.—While Wall Street financial leaders were somewhat concerned last week over the political developments in Japan, feeling was that the situation, although extremely serious, was not quite as bad as it appeared. Japanese affairs are of particular in- terest to investment bankers because 000000 in government and oorporl!e Clo&e observers of Oriental affairs point out the Japanese have never yet defaulted in their interest charges and | they have no near-maturities that might be embarrassing. ‘The principal Nlpponese bonds listed here are the government 6';s of 1954 and 5':s of 1965, Oriental Develop- ment 6s of 1953 and 5'%s of 1958, Toho Electric Power 7s of 1955 and 6s of June 15, 1 Taiwan Electric 525 of 1971, Tokio City 5izs of 1961 and 5s of 1952, Tokio Electric Light 6s of 1953, Sh Nyetsu Electric Power 6l;s of 1952 and Yokohama City 6s of 1961. Both of the Oriental development issues are guaranteed by the govern- ment and. like the government’s bonds, have been relatively steady recently, although around 20 or more points under their high figures for the yea The loans of Nippon began their de- cline with the Manchurian military Shanghali. ‘The comparatively low price of the government's bonds is said to have Te- sulted in considerable quiet but steady buying from Japanese sources during the past month or so. Markets at a Glance the general | the empire has outstanding some $400,- | adventure and prices continued to siide | further when the Japanese entered ! New York Cotton | Specia spatch to The Star, NEW YORK, May 23.—In sympathy with an advance of a cent and a half | 2 bushel in wheat and influenced by | belated covering of May contracts be- fors trading ceases tomorrow noon prices on the cotton exchange today advanced to best figures of the past two weeks and closed 7 to 8 points higher than Saturday. Demand for May contracts reduced the discount on the spot month to 4 points under July in closing trading. Spots were advanced 10 points to 5.95. Cotton range: Owtn Fglw I)G 70 2 2 4 Market | BY the Associated Press CHICAGO, May 23 —Enlarged specu- lative buying, together with extra bull. |ish news regarding domestic Winter crop prospects, sent wheat prices up- ward today, the fourth day in suc- cession. A decrease of 1,164,000 bushels in the United States wheat visible supply was a contributing incentive to purchase, the total stock in sight being now 169.- 555.000 bushels, against 191.408,000 at this time last year. Scattered export business was noted, including some United States hard Winter wheat for Greece. Wheat closed unsettled, 135-13; above Saturday's finish; corn, 3s-% up: oats, | 12-75 advanced, and provisions un- changed to a rise of 5 cents. May ... July, ‘old July, new September, September, December Close. 5.78-10 582 606 6.19-20 617 6.42 May ... October """ December | Januar ch i Grain Close 80 old .. new.. July - September NEW YORK, May 23 (#).—Stocks steady: leaders move narrowly. Bonds irregular; United States Governments improve. Curb steady; oils firm. For- eign exchanges steady; sterling firm. Cotton higher; strong wheat market; local buying. Sugar quiet; trade buy- Coffee higher; foreign buying. CHICAGO, May 23 (#)—Wheat firm; decreased visible stock; bullish South- west crop estimate. Corn firm; thy upturn wheat; steady foreign mar- {un Cattle steady to lower. Hogs lower. e MARYLAND TOBACCO PRICES. BALTIMORE, May 23 (Special).— Receipts of Maryland leaf tobacco last week were the largest of the new sea: son, totaling 1,987 hogsheads, with sales of 448 hogsheads reported, which con- stituted the larger part of the new offerings. Most of the receipts, how- ever, will not be eligible to be sampled until after 30 days, but this will be reduced to 14 days after June 14. Stocks in State tobacco warehouses total 18,412 hogsheads of leaf tobacco and 640 hogs- heads of ground leaves. ‘While there is some complaint be- clu.e of blue mold and flies, according at the State warehouses, most farmers have adequate plants and are now getting ready to transplant. Quotat! today for Mnryllnd leaf ds—Frosted and inferior, good, X good to fine red, 30.00a39.00; hncy, 39.00240.00. Seconds—Common to me- dium, 4.00a15.00; good to fine, 16.00a 25.00; 1931 crop ground leaves, 2.00a 12.00. Upper country, burley, nominal. U. 8. TREASURY CERTIFICATES REAL ESTATE LOANS Made at Low Interest Rates TYLER & RUTHEREOQ 5‘.?&'.:! rears, if so 1520 K St NW. ENTERPRISE SERIAL BUILDING ASSOCIATION 7th and Indiana Ave. N.W. Shares of Stock $1.00 Each, Payable Monthly. 5% paid on stock withdrawn 68th Series of stock now open for subscription T ey R Safety of Principal Safety of Interest First Mortgage Securities viedine 690 High type investments secured by direct first mortgages on lneome—produc here in the Nluonrm Denominations from $100. -l' h mlllfiln Send for lookut. l‘M Success Plan™ REALESTATE MORTGAGE & GUARANTY CORPORATION 1610 K St. N.W. National 1403 13 | ICURB ISSUES DULL INFIRMER MARKET \Irregular Opening Is Followed by Improvement in Some Groups. BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK. May 23.—After opening dull and irregularly, today's session on the Curb Exchange held its slow pace, but here and there in various parts of tne list a slight improvement took place 1in_quotations. Electric Bond & Share was down a fraction to 9. Cities Service was off a shade at 33, but Standard Oil of In- |dtana at 18%’ ‘stcadied as it recoverca an initial loss. American Gas & Elec tric, compelled to absorb some increased 'cflermgs lost about % point, but Gulf 1 Oil of Pennsylvania was up almost that , | amount. 1 News from trade centers over the j week end proved encouraging. Automo- | bile sales last month were estimated to be nearly 20 per cent ahead of those of | March. ~ Steel output was up slightly | a result of structural and automo- |tive demand. Grain prices bettered. Associated Gas & Electric issues | failed to respond to the company’s an- nouncement that all its current indebt- edness had been paid and neither ft nor its direct subsidiaries had any bank loans or similar indebtedness now out- standing. Nevada-California Electric, likewise, did not immediately react to its 12 months’ earning statement, ended April 30, showing net of $741,717 against .| $781,717 in the like period of last year. American Cigar, whose stock is now nearly 98 per cent owned by American Tobacco, declared a quarterly dividend of $2 on the common, resuming pay- ments which had been omitted since January 2, 1930. Woolworth, Ltd., con- tinued its usual payments on the com- mon shares, which also was true of the disbursement on American Thread pre- ferred. CHICAGO DAIRY MARKET. CHICAGO, May 23 (#)—Butter, receipts, 12,764 tubs; steady; creamery specials (93 score), 1715; extras (92) 16%;; extra firsts (90-91), 16al16! firsts (88-89), 15al5';; seconds (8 87), 14al4’;; standards (90 centralized carlots), 1634. ¥ Eggs—Receipts, 43.005 cases: weak; extra firsts, 12'.; fresh graded firsts, 12; current receipts, 11-1115; storage- packed firsts, 13'z; extras, 13%. New State Financing. NEW YORK.-May 23 (#).—Only four flotations of $1.000.000 or more are in- cluded in the week’s total of $9,324,749 in new State and municipal financing scheduled by 38 communities, according to the Daily Bond Buyer. The total for the past week was $57.225,746. CHICAGO STOCK MARKET By the Associated Press. CHICAGO, May 23.—Following is the complete official list of transactions in stocks on the Chicago Stock Exchange High. Lox. Close. 35y i i 2878 1 ‘!r()'l."w'-ww'l SR 250 U ad 1000t & fnd ot 50 Wahl . Stock sales today. 22.000 BONDS 1000 Chi City Rys 55 192° 2000 Chic Rys 5s Bond sales today BALTIMORE flTO(‘KS Special Dispatch to The Star BALTIMORE. May 23.— les. TOC Bt Arundel Sorporation .. 73 Black & Decker com rodas C & P Telephone Balio pid cum pfd A 95 Last sales. 1‘2 :ni Maryland Casualty Co 5 New Amsterdam Cas Co 18 TE Aaeln ¥ cuarasey BONDS. _4000 United_E Blec_1st 4 A Generous Return on Your Investment Combined with Safety, when you BUY OUR FIRST MORTGAGE NOTES Securcd on new brick homes in preferred northwest resi- dential scctions. Every mort- gage protected by fire insur- ance and title guaranteed by responsible title companies. Conservative Appr: ing Absolute IN DENOMINATIONS OF $250 and upwards BOSS & PHELPS 1417 K St. Realtors. National 5300 $5 Monthly (5% Interest) —and it soon mount up to surprising proportions. $5 monthly will total $339.75 in5 yrs. . $773.30 in 10 yrs. .. . and $2,03285 in 20 yrs. Even this smali amount —deposited regularly—is important! Open Daily 9 to § Saturdays Until Noon P&MXN EflT BUILDING ASSOCIATION (’4.(94"9“ ST. N 4 <2 g 25 "".vmpu &