Evening Star Newspaper, July 24, 1932, Page 47

FINANCIAL. 3 TRADNGONCURB || NEW YORK CURB SUMMARY Grain Marker | BANK LOAN POLIGY FEATURED BY QILS)- T EASIER IN CHICAGD FINANCIAL. EARNINGS REPORTS | NORE FAVORABLE THE SUNDAY STAR, WASHINGTON, D. C, JULY 24 1932—PART SIX. Market Averages By the Associated Press. STOCKS. 193 High. Low. 1% FOR WEEK ENDING JULY 23, 1932 Stock and dividend. Acetol Prod A.. 8% Acme Steel (1) 24 Air Inv conv pf Stock and dividend. Itallan Superpowr A. Kerr Lake B Kings Co Lt cum pfD(5) Kirby Petroleum. . High. Yesterday T Previous day . Week ago . Month ago ... High. Low. Close R TP 1Y a1 9 9 2%, {a little higher today. Illinois, Missouri, Kansas and Ne- braska advices indicated 1932 corn crop | 2% Some Firms Make Better Showing Than Expected. Employment Gains. Bpecial Dispatch to The Star. NEW YORK, July 23.—Publication nf, additional statements of earnings for the second quarter and the first six menths of the year attracted attention because of an increasing number which made a better showing than expected. Further instances of incrcased em- ployment also were reported. Confi- dence seems to be growing in an Au- tumnal expansion in general industry and trade. ‘The head of of the largest indus- trial corvorations in the country, which does business in all parts of the Na- tion, believes that general business is “creeping around the corner toward Te- covery RADIO INVESTMENT NOW $1,800,000,000! Industry Has Made Huge Stride in 15 Years, Says Dun Analysis. Bpecial Dispatch to The Star. NEW YORK, July 23—The radio industry, barely 15 years old, has now a total investment of $1.800,000,000 and contributes more than $500,000,000 an- nually to the national wealth, according to an analysis of the industry in “Dun's Review,’ published by R. C. Dun & Co, the oldest and largest mercantile agency in the world. It pays out $350.000.000 each | year for operating expenses, spends £40.000.000 for entertainers, and pro- ides entertainment and instruction for pearly 17.000.000 homes scattered from Maine to California, Of the invested capital, “Dun’s Re- | few" points out. $150.000.000 represents fnvestment of radio manufacturers: 000,000 the investment in radio roadcasting: $1.600.000,000 in Jisteners’ £ots; and $25,000,000 the investment in commercial radio stations. The retail sales of radio products | have fallen from the record peak in the last two vears. yet this is not an indi- cation of waning popularity for the anstrument, but rather a sign of intense preparation for a period of great @chievement. 1In fact, the drop in sales in 1931 to $309.270,000, which was a 38 per cent decline from the total of $500.951,500 recorded for 1930, and a decrease of 63 per cent from the $842,- | 548,000 in 1929, which was the record vear for the industry. is regarded as thg natural sequense of the tumbling prices caused by the hectic activity dur- in% 1922 and 1929. CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, July 23—The follow summary of important cws prepared by Stzndard | . New York, for the Automobiles and Trucks. General Motors Corporation common share carnings, 6 months ended June 30, 1932, 24 cent: $1.83. Automobile Parts and Tires. Houdaille-Hershey Corporation cit. 6 months ended June 3. $159.987, vs. net income $609,286. dofi- 1932, | Year ago ......1088 Three years 1£0.228.6 Five years ago.123.9 Hien. 1033 2500689 1083 50 2 14 gh. High. 1930 . Low. 1930 s ptetetnioteutei Yesterday Previous day Week ago Month azo . Year ago . 32328 823843 WORKER INSURANCE RATES INCREASED Charges on Compensation Policies Raised One-Fifth by Council. BY ROLLIN N. CLARK. Action taken by the National Council on Compensation Insurance, the organi- zation which fixes the rate for work- men’s compensation insurance in nearly every State, means that American em- ployers will be compelled to pay about one-fifth more on the average than at present for this required coverage pro- tecting their employes. The National Council is composed of two types of insurance carriers—stock companies and non-stock—which {fre- quently disagree on rating problems. The groups are given equal represen- tation on committees and in_voting, but an umpire in the person of a special representative of the National Conven- the power to decide the issue in case of ate S0 in this matter the actual decision was in the hands of this official, for the two company groups could not agree on a specific -at> increase, which ad- mittedly is necded by the insurers. The stock company representative first pro- posed a scheme which would have in- creased Nation-wide rates about 24 per cent on the average. The other group's plan called for a 9 per cent average in- crease. The non-stock carriers then of- fered a compromise at about 14 per cent, which still failed to bring agree- ment. ‘The State commissioners’ representa- tive announced that he would approve the initial scheme if its proponents average increase approximately 20 per cent. This was acceptable, so the mat- ter is now settled in so far as the com- panies themselves are concerned. A number of States, however, will have the final say, because new rate must be filed and approved before bein put_into effect. of the ability of the insurers to support their application for higher rates with ample evidence, but opposition by em- final disposition of the matter. e States the increase will be con- siderably greater than 20 per cent, while in others it will be less. (Copyright, 1932.) Trade Trends By the Asscciated Press. Electric refrigerator sales—For the first six months sales in the United St: totaled $594.910, compared with $597.454 in the first half of 1931, ac- cording to the National Electric Light Association. June volume was esti- Food Products. Ward Baking preferred share ea- | ings. 28 wecks ended July 9. 1932, $1.87. | vs. $2.68 in 27 weeks ended July 4, | 1931 | Wrigley (William), Jr.. Co.. dollar #aies off about 9 per cent in first half. Machinery. | Allis-Chalmers Manufacturing deficit, | 6 months ended Jun- 30, 1932, $1,805.- 898, vs. net income $1,006.061: unfilled | orders as of June 30, totaled $7.136 vs. $7.279,744 on March 31, 1932 $9,032,531 on June 30, 1931 Metals (Non-Ferrous). Howe Sound Co. common sha ings, 6 months ended June 30 cents, vs. 90 cen's Magma Conper _deficit ended June 30. 1932, $28.257. ne income before Federal taxes $187.783 Miscellaneous. Du Pont (E. T de Nemours Co. com- | mon chare carnings, months ended June 30, 1932, $1.01 vs 23 Gorham Mfg. Co. declared a common | dividend of 25 cents; paid 40 cents on June 1. Seagrav it an i eorn- | 2, 4 e Corporation nded June 30, 41,088 Office and Business Equipment. Underwood Elliot PFisher Co. dofi six months ended June 687 vs. net income $1,099.465. Railroad 2nd Railrcad Egquipment. Western Pacific R. R. Corporation | June net operating loss of Western Pa- | cific R. R. Co. 343 vs. net operating loss of £5.265 months net | operating loss was $546.152 vs. loss B Retail Trade. rs. Rochuck & C weoks ended July 16, 28 weeks off 21.2 per cent Steel and Fron, Castle (A. M) & Co. deficit. months en 1e 30, 1932, $99.040 net income $3 11 | Utilities. | ional Electric Power Co.—Electric | Engi Corpora- | this company | e. has filed | coles, four 2 per cent Nat Mancgement & National Public Serv ion in bankruptey in | w York - Service Co. g s ended June 3i before der reve- off 13.4 ion off Rapid Transit Co. common ngs, six months ended June 66 cents vs. $1.04. By the Associated Press. NEW YORK, July 23.—Decline in cotton today was attributed to further liquidation combined with Southern or spot house selling promoted by a fa- Yorable view of the weather news and relatively easy Liverpool cables. Octo- ber contracts sold off to 5.9 or points net lower, but there were <l rallies later cn covering and that de- livery clcs>d ¢t 5.74 ket closed st~ points on all p Janoary March May i While city_ officials of Malsen lend, were arguing cver the removal of an chelisk-fountain. it toppled ov'r as the recult of a ccllision batween auto irucks. mated at $156,720, against $119,761 a year ago. Hides—Futures were reactionary this week, but a fair sized quantity of hides was moved in the domestic markets early in the week at previously ad- vanced levels. Prices in the Argentine spot market also were steady. Lumber—Production, shipments and new business continue to run from 40 0 50 per cent below the movement a vear ago, the National Lumber Manu- | acturers’ Association reports. Orders | and shipments ran 7 per cent ahead | of production for the week ended July 16. Stecl—Despite the absence of the tangible signs of improvement. steel trade interests are taid to feel more hopeful on the outlook, particularly as to the possibilities for a moderate re- vival of demand in September. Mill operations have risen slightly in some districts It is expected that the Youngstown district will show an aver- age of 20 per cent of capacitv mext week, compared with 27 per cent for the past week. Textiles—Trade sentiment continues | to verge toward the cheerful side, say leading authorities. While orders are not ccming in large volume, silk and worsted mills are said to be booking|jcan Banker” reports a sharp decrease a steady day-to-day business and report thet their outlets are readily absorbing the goods produced. SILVER QUOTATIONS. NEW YORK. July 23 (/). —Bar silver firmer and ! higher at 267 tion of Insurance Commissioners has | would accept a modification making the | There is little doubt | ployers’ groups in some instances may | List Turns Irregular on Real- izing Sales at Short Session. BY JOHN L. COOLEY, Associated Press Financial Writer. | NEW YORK, July 23—Weck end profit-taking gave the curb a slightly irregular appearance today, although iflrmncss in the oils group was a con- isplcuou.s feature of the quiet market. Standard of Indiana pushed across 20 to & mew high, showing a rise of more than half a point. It traded ac- tively. Gulf met some realizing. but was only slightly affected. Citles Serv- ice figured in a substantial turnover and improved its quotation by a small fraction. Utilitles were about steady, with nominal net changes. Associated Gas “A” firmed, appearing in some volume. Consolidated Gas of Baltimore, Electric Bond & Share and American Gas were slightly mixed. There were' a number | of early transactions in preferred stocks of Empire Gas & Fuel. Aluminum of America continued to give ground. but got back part of a 2- point dip. Mead Johnson, Swift & Co., Stutz and Ford of Canada “A” traded in the industrial and specialty division. Commodity Price Trends of Week BY H. N. McGILL, *0UT ‘90JAI9E £)jpOWIWIOD (DI 1031pE AURBURNDALE, Mass, July 23— Latest price levels show no abatement in the upswing that has been in evi- dence for the past six consecutive weeks. During the past week the average of all commodities again recovered, due primarily to a higher price average for live stock and :1so helped by moderate- ly higher quotations for hides and leather and textiles, both fine and coarse, Industrial prices recorded no change. For several months the composite grou, of industrial prices has held up within a narrow range, showing considerable resistance to bearish pressure. While some price maladjustments are noted, steel, for example, appearing too high, there are so many basic commodities that have been forced sharply under the cost of production that every price decline in the groups that carry price inflation are offset by recoveries in groups that are unduly low. The net result is that the industrial group has been held in a state of stabilization for many weeks. Agricultural Prices. Agricultural prices are also holding relatively steady and the average for all agricultural groups has shown more disposition to increase than decline since the opening of this month. Live | stock prices have shown more strength than any other group. The recovery 15 partly due to a seasonal decrease in slaughtering. but in part is attributable to a natural rebound following price deflation and demoralization that was carried to an extreme. The advance that has already taken place has stim- ulated purchasing power in the live stock belt. Hides and leather prices have re- | corded the first turn upward for many | months. This movement represents the | eginning of a seasonal trend. Latest | data show that supplies of hides and | leather are relatively high in terms | of actual consumption. i Non-ferrous metal prices receded to a new low during the past week, largely | due to lead. In the main non-ferrous | metals are fluctuating within a narroy range at the lowest price level in this century. Textiles, both fine and coarse. have! reacted with the upswing in commodity | | prices in general in recent wes In | the case of fine textiles, the recovery is almost entirely due to the higher | price level for spot cotton, which ad-| | vanced over 1 cent a pound from the | extreme low in June. i A review of price changes during the past week shows that out of 14 indi- | vidual groups, 4 advanced, 5 declined and 5 remained unchanged. The groups that were higher were live stock, hides | i and leather, textils coarse and fine. | Groups lower were vegetable oils, Dnm!i materials, non-ferrous metals, fuels, | with an extremely small fractional de- | cline in agricultural products. ~ The | groups which remained unchanged were industrial, building materials. chem- icals, ferrous metals, paper and pulp. Important Changes. Most important price changes in the McGill weekly price indices. 1926—100. This - Week We 504 49 All_commodities Industrial Agricultural Livestock ... | Non-Ferrous * Metais Fine Textiles.. | IN BANK SUSPENSIONS | By the Associated Press. | NEW YORK, July 23.—“The Amer- in the number of bank suspensions | throughout the country this week. The total was 24 against 40 last week. Six institutions reopened. double the number of resumptions in the previ- ous week. Closings included four banks |in Milwaukee, the first in that city ' this year. WALL STREET IS BY RECENT EARNINGS REPORTS Special Dispatch to The Star. NEW YORK. July 23.—While no one minimizes the far-reaching significance of the approval by the Interstate Com- merce Commission of the four-party Eastern railway consolidation plan, that ‘demslon throws no light on the imme- { dlate industrial outlook. For a long | t'm~ to ccme it cannot have any apure- ciable effect on railway earnings. What- ever effect it has marketwise will be in swaying sentiment toward railway se- | curities for more or less permanent | holding ) It is quite different with the second quarter corporation income accounts now coming out. One of the points stressed by bearish profesisonals for a month or more back has been the dis- would make. The street was prepared. however, for something much worse than the figures revealed: in more than one instance it was pleasantly disap- pointed. Some Comparisons Favorable. Scmetimes dividend requirements | were covered for the period included in the statement. Once or twice the com- | parison nwith the same period a vear ago was favorable instead of unfavor- able. A'most invariably the market had discounted and over-discounted any falling off. Even in these times the price earnings ratio looks attractive from the buying side. To take only a few instances. Gen- eral Electric covered its dividend re- quirements on the reduced basis in the second quarter, a remarkable achieve- | ment considering the low rate of oper: tions. Corn products and National Bis cuit fell only a little short of meet- ing their three months’ dividend needs. but the market response .to the publi- appointing showing these statements | IMPRESSED cation of the results showed that a larger decline had been anticipated. Two important illustrations of this | situation have come to hand. One of them is Atlantic Refining. one of the | cld Standard Oil units and a leader| | in the industry. The preliminary state- | ment shows the dividend for the entire |year earned. The company pays $1 |arnually and, in the first quarter, net. for the stock was only 16 cents a share, {whereas in the second quarter it was $1.02 a share. Of course the oil in- |dustry is in a peculiarly advantageous position now, inasmuch as it has no invertory losses to take. The other case is that of Chrysler Corporation, which also covered its iqunrterly dividend in the three months ending June 30, although it had oper- ated at a loss in the first three months of the year. While the Chrysler state- (ment may not be typical of the motor | trade as a whole, it does show that the well-managed; units can operate at a profit even under present conditions. Moreover the Chrysler balance sheet presents an inspiring picture of finan- cial strength. Wall Street Encouraged. As of June 30, 1932, the ratio of current assets to current liabilities was the highest in the history of the cor- poration. Cash and marketable securi- ties constituted 70 per cent of cur- | rent assets. The company’s only funded debt is $43,000,000 of Dodge Brothers’ 6 per cent debentures, which it as- sumed. The excess of quick assets over all current liabilities is approximately equal to the total funded debt. While there will be many second- quarter statements in disagreeable con- trast to the foregoing, it is safe to say that the financial community is greatly encouraged by the results so far, | (Copyright. 1932.) 51% Ala Pwr cum pf (7). 2% Allied Mills Inc... Aluminum Co of Am.... 4 Alumn Co of Am pf (3).. Aluminim Goods (60c).. Atuminum Co. Ltd. . Alumn Ltd cu pf (3) Am Beverage Corp. Am Capital pf. .. Am Capital pr pf AmCItP& L A (a3) AmCit Pw & Lt B. Am Com Pow A. Am ForPwr war Am Founders Am Gas & Elec (11). Am Gas & El pf 16). Am Hardware (2) . Am Laun Mch 1.20 Am Lt & Trac (214). Am Maracatbo Am St Pub Serv A. Am Superpower. Am Superpower 1st pf Am Superpower pf i Am Thread pf (25c).... Am Yvette Co.. Inc. Arcturus Radio Tub Ark NatGasA.... Asso El Ind Ltd(k10c).. Asso Gas & Electric. ... Assoc Gas& E A (b3 %). Asso Tel Utilities. - Atlas Plywood . Atlas Utilities Corp. Atlas Utilitles(war) Bell Tel of Canada ( Beneficial I L (134). Elue Ridge Corp. . - Blue Ridze cv pf (a2)... Rlumenthal (S). Brazil T.Lt&Pwr(b8%). Brt-A T cuBk33 3 g Ruffalo. N&EP pf(1.60) Bulova Watch ev pf..... Burma, Ltd rets (4¢). Cable & Wire, Brets Canndian Marcont Carib Syndica Carnation Co Carrier Corporation. Celanese Corp pf (31 Celanese Corp 1st pf Cent Public Service A. Cent & Southwest T'til Cent & So'wn Ut pf (7). 4 Central States Electric. . « Cities Service(BB) 4 Claude Neon, Inc Clev Elee 111um ( 4 Clev Elec Illum pf(6). Colon 0N ... Colum G&E cv pf Columbhia 011 & Gas vte. Comwlith & Sou (war) .. Community Water Serv. Consolidated Afreraft . Consol Gas Balto(2.60). Consol Gas Utllity A. ... Consol Royal (20c). ... Contl Gas & El pr pf(7T). Copeland ’rod, Inc. .. Cord Corp ...... Corroon & Revnolds. . Courtaulds (14 2-5c) .. Creole Petrolenm Crocker Whaeler Crown Cent Petrol. . Crown Cork Intl (A) Cus! Mex Mining Darby Petroleum Davenport Hos (2) 2 Deere & Co.... e Forest Radlo. Detroit Afreraft Coy Dixon (J) Crucible. . Doehler Die Casting. Driver Harris Co e Pow (5). Durant Motors. . Fast G & Fuel Asso. st Gas &Fvel prpf. stern G & F pf (6) tn States Pwr (B)... Empire Euro Elec. Fagardo Suzar. Fedders Mfc Federated Ca £ Federated Metals. . Florida P & Ford Motor. Ford Motor F Ford M Ltd Foremost Dairy Foundaticn For Shs. Gen Alloys. ... General Aviation Gen Capital (112). G EI Ltd rets (136 GenG & cvpf R Gen Pub Service pf GeorglaPowerpf(6). Glen Alden Coal. Globe Undewritr Gold Seal Electric. Goldman Sachs T C. Gorham Inc pf. Gray Tel Pay Sta (2) Graymur Coip (1. Grt A&Pac T n-v 165 . Grt A&P Tea of (7). Gulf Ofl o P'enna. Hackmester Lind... Hazeltine Corp Hecla Mining. . Helena Rubinstein Hollinger Gold ($70¢c).. Horu&Hardart(23%) Hudson Bay Min & §. Humble Oil (2).... Hydro Elec Secur(k10c). Hykrade Food Prod. ... I Pwr & Ltpf (6)..... i Imp Oll of Can (50¢). ... Imp Ofl of Can reg (50c. Ind Pipe Line (k35¢) Indian Ter I1lu Oil A Insull Investment. Insur Co of Nr Am (2 Insurance Security.. Intl Petroleum (1) Int Safety Razor (B). Int Superpower (30c).. Internat) fitihit B) . Inter Utilities war new.. Interstate Power pf (7). 3-Ge). (h6). ‘ 6214 54 1% 2 Lack Lake Shore Mine Lefcourt Realty (80c) LefcourtRity pf(3)..... “oal & N (89c).. 35 9 Lehigh C Kolster-Br(Am shs) curities (4). 2%) Libty McNelll & L Lone Star Gas (bfdc). Long Is Long Is nd Lt (60c). Ltpt (1) McCord Radiator B. Me Quay coni Marton Norris TM (k131 Oil (1). tm Shovel. Util Asso ev pf 2% Mead Johnson (3)...... Memphis Natura Mexico-Onio Of] 1idl Sts Tet vtc. A Mid Sts Pet vte B. Midl West Utilities. Mining Corp of Can. Moh Hud P 1st p(7). Mont Lt H&T (1%). Mountain Prod (80c). Nat Am Cn... Nat Investors. . Natl Pwr & Lt pf (6)... Natl Transit (1).. . Newberry (1) (1.10). N Y Tel nf (4).. Niagara Nia Hud Ni 2 <h Nipissin North fud Pwr B w. I1ud Pwr(new). I'oAwsn..... new Md B (b it Pwr A(8)... North S Pow pf (7). Ohio Copper.. .. Ohio Of1 n (cu)pf (6). Outboard Mot (A).. Pacific G PacPSnpfal & Epf(13 ) Pan Am Alrway Paramount Moto! Pilot Radto Tul rit ties be(A).. Pioneer G M Ltd (12¢ Pitney Bowes P (b1%).. Pitts Plate Plvmout h Oil k(50e) nbert (1) Premicr Gold ( Prudential Inv b Util Ho Ut HC I; Pure Oi1 ot Sa P of Pyrene M Ryan Consolidated. . Safety Car Heat & Ltg Antony Gele St Rexzis Salt Ci Seat Paper k Prod (1). d Utilities. . Sec Allied Corp (1). Selby Sk Selected Sele s Sisto B s ith ho(A.C e (1.40). Indus (new) Ind all cfs(5 1 Indus Shwan Water& P Shenandoah Corp. . Sherwin ra Ps or M Wil 2 c Elec pf (6).. Co (8). 1 Corp. ). s na Tpwr vtc. South Penn Ol (1).... So Cal Edis nf (B) (1%) sther - Stand Ofi of Ind( 1. Stand Of Stand Ol Neh . Stand Of1 Ohtn(2 1) s nd O d P arrett Motor Car cart pa F Pipe L (1.40). 1 1 <y (1 (1) 20) 7 1of Ohio pf (5). 5 iblic Srv A. Corg, pf. M Corporation Tlec (2.24) Technicolor Inc Tech Hughes (§6¢c). Texon Oil & Land (1). Tobacer Prod E Trans Air Trans. Trans Lux DLP S T'n Oil As<ociation (1).. Unit ¢ Fast (40c). Unit Corp war. Unit Dry Dock Unit Elec Service. Unit “ounders. . Utd Gas Corpn. Unit Gas Corp ar United Gas pf (7). Unit Lt & Pwr (A) Utility Equities. . Utility Equity pf (5% 1& Industrial pf Ut + LH+ 4+ 141 . Venezuela Petroleum. Walgreen Co. . Wa v Dividend rates in dollars based on tPartly extra £ Payable fn stock % | pavment. | stock h Pius 1% in stock. resular rate Iker (Hiram) mPlus 3% in stock. n Plus iast year—no rezular rafe. +1 bt st quarterly or semi-annual 1Plus 47 in stock. a Payable in cash or fPlus 5% in stock. g Plus 6% in JPlis 25 in stock. k Paid this yea: in stock. Baltimore Markets Special Dispatch to The Star. ‘ BALTIMORE, Md.. July 23.—Under | light receipts generally the live poultry | market holds steady, but values on Spring _chickens and ducks show a | slight_decline. A fairly good demand prevalls but centered on large fat stock. | Wwhile receipts are running entirely too heavy of poor, thin fowl, which has an effect on the better quality of fowl| Spring chickens averaging three pounds ‘ and over find ready sale at 21 and 22 cents a pound, but 2 to 2!2 >ounders will not bring over 14 to 20, and only | large fat Leghorns, 3!2 pounds and| over, attract attention at 14 and 15, with all under grades slow sale at 12| and 13. Old hens continue in good demand at 13 to 16 for fowl weighing 31, to 5 pounds and over, but Leghorns Wwill not bring over 11 and 12 and all r thin fowl, as well as old roosters, | neglected at 8 to 10. The weather has | been entirely too hot for any 'm"i movement on young ducks and only | stock weighing 412 pounds and over | will bring 11 to 15, with smaller ducks | not wanted at any price. Pigeons con- tinue in liberal receipt, but prices show | no change at 20 to 25 a pair for both | young and old. | Egg Prices. | ‘The egg marke}y continues unsemed‘ at 12 and 13 cents a dozen for nearby current receipts and with most of tre native and nearby stock showing e dences of having been held, buyers are turning to Western refrigerator eggs with more satisfaction in quality and grading. Hennery whites, with an | average weight of 55 pounds and over to the case, meet with ready sale at a premium of 3 to 5 cents a dozen over | current receipts. Prompt and frequent shipments, even in single case lots, are advisable to bring top values as all held stock has to be sold on the street at discounts. Demand for new potatoes only moder- | ate and market is dull and lower at 1.50 | to 1.75 a barrel, while old potatoes show a sharp decline at 60 to 75 per 100 pounds. | The market for native and nearby ' garcen _truck continues steady and prices show little change from last week at the following quotations: Stringless beans, 40 to 60 bush beets, 1.00 to 1.50 hundred; cabbage, 75 to 1.00 bushel; carrots, 1.50 to 3.00 hundred; sugar corn, 15 to 20 dozen; field corn, 10 to 15 dozen; cucumbers, 20 to 25 hamper; eggplants, 65 to 75 hamper; lima beans, 150 to 250 bushel; onions, 1.00 to 150 hundred pounds; peppers, 50 to 65 hamper; | squash, 15 to 25 hamper, and tomatoes, 1.00 to 1.50 hamper. | ‘The live cattle market on the wharves | continues dull and draggy, the demand | being curtailed by the warm weather, | and only first quality stock attracts at- tention. Most of the receipts on the wharves are of common undergrades, which are hard to move even at dis- counts. Quotations today at Light street wharf: Beef cattle, first quality, per pound, 62 to 7!3; common to medium, per pound, 4 to 6; bulls, as to quality, 2 to 5; cows, choice to fancy, 4 to 5; com- mon to fair, 2 to 3; oxen, as to quality, 2 to 5; calves, veal, to 515; large, fat, 4'2 to 5: large, rough, 4 to 4%; com- mon, thin, 3 to 31, sheep, 11 to 213; Spring lambs, choice, 515 to 6; fair to good, 412 to 5: small, thin, 3 to 4; hogs, straight, 5 to 51.: sows, 4 to 415; stags, 2 s!o 3; live pigs, 8 to 10; shoats, 6 0'8. Grain Prices. Closing prices on grain: Wheat, No. 2 req Winter, garlicky, spot, domestic, 531: July delivery, 53%; August de- livery, 533 bid; corn, No. 2, yellow, <pot. domestic, 44a45; cob corn, 1.75a 2.00 per barrel; oats, No. 2, white, as to weight, 20a32: No. 3, 28a29; rye, nearby, bag, lots, 40a45. GOLD STOCKS GAIN. NEW YORK, July 23 () —The monetary gold stock of the United States was increased today by an im- portation of $26,400 from Mexico and a mnet decrease of $4,000,800 in ear- marked metl.L © cpposed to Government deterioration much in excess of the usual amount shown during the last 10 e: Only scattered showers in the corn belt were reported, and lower temperatures were ignored. Corn closed unsettled at the same as vesterday's finish to 5; higher, wheat 15 off to !5 up, oats unchanged to lp lower and provisions varying from 2 cents decline to a rise of 15 cents. | WHEAT— High. Low. July (old) 463, .46 September (oid) 11| 48%) 48' September (new)..”. 48% 481y December ... 813 B1Y 327 330 Sepiember December 167 : 18 December . 20% RYE— September . December -30% 341 WINTER WHEAT PRICE NEAR EXPORT BASIS Reserve Supglies Abroad Are Small and Ocecan Freight Rates Are Low. BY JOHN P. BOUGHAN, Associated Press Market Ed CHICAGO, July 23.—For the time in a long while United Stat rd Winter wheat today app on an actual shipping basis t ! abou o Liverpool. Reserve supplies outside of North America are extremely small, lake and ocean freight rates are low and over- scas markets have failed to follow de- clines to all-time bottom price records in_America. Compared with a week ago, wheat this morning showed s to 1 cent ad- vance, with corn % off to ’> up, oats 1 to Z cents down and provisions at 17 to 40 cents gain. Spring wheat harvest has com- menced, but later aveas are still sub- ! ject to damage. Likelihood cf setbacks for the Canacian crop in sections where moisture is short forms another cle- m:nt of uncertainty. N\ ter wheat primary receipts indicate the | season’s peak is past. First South Dakota reports indicate Spring wheat is of light weight, but good quality. Areas that suffered most from _drought atly the general of enormous iosses indicated e the year. Trade forecasts are still for a corn crop of 3000000000 bushels or more but rains are Ladly needed. Oats rule far below production cost Provisions keep step with hog values. 'HOLDING COMPANY ATTACKS MULTIPLY Bankers Feel Some Sort of Govern- ment Control May Aid Confidence. By the Associated Press. NEW YORK, July 23—Wall Street | i~ cxperiencing a series of tacks on thai popular form of corporate control which came into full flower in 1923— | the holding ccmpans. The financial district is traditionally centrol. if there is any inclination to approve a limited degree of restrictions upon ing companies st this time, it is c to a feeling that it might hep to restore public confidence in se-urities Bankers in the main say it is all a matter of management. that a holding ccmpany improperly managed will come |to grief. just like any other company They insist the holding ccmpany is an \old and tried form cf corporate struc- jture, end is an effective. efficient and | zenerally beneficial means of control- | ling. operating and financing groups | cf enterprises. The American Tel phone & Telegraph Co.. is frequentl - mentioned in Wall Street as a sound and successful holding ccmpany. WEEKLY EARNINGS iEPORT. NEW YORK. July 23 (P).—Per share carnings of mas corporations reporting week, with comparisons for a ye . included: Refining Co. hns-Manville iChrysler, Corn 1932 1931 51 18 Coca Cola Internatio: Chosapeske & Ohio R General Elec Corn Product National Bis e o zate Palmolive Peet Qil Co. re me b Authorized Service Carter Carburetors— Eclipse—Bendix Lockheed Brakes MILLER-DUDLEY CO. 1716 14th St. NW. North 1583-4 i Business Men Are Being Ac- | commodated on Mcre Fa- vorahle Basis. BY ROYAL F. MUNGER. | Special Dispatch to The Star. CHICAGO, July 23.—Loans for busi- ness are becoming available in Chicago in increasing volume this month. The most significant news from the financial center of the Middle West is not the rise in hog and cattle prices or the mod- erate = ilization of the bond market, but rather the clearing up of the local banking situation to such an extent that rock-bottom business confidence is now possible. ‘The outstanding feature of this at the moment is the launching of a city-wide and almost country-wide advertising campaign by the Continental Illinois Bank & Trust Co., the largest bank in the ¢ and one which in more normal times holds the title of the “billion- dollar” institution. “This bank lends money to sound business in bad times and good.” is the keynote siatement of the adver- tisement. This is true, for the Conti- shown a ten- dency to increase its scope in time of stress. A month ago, however, no Middle Western bank would have felt in a position to advertise its willingness to make 1] in the teeth of Th ments placed in leading news- paper in the city, and on larger space than anv similar announcement since the advent of the depression, has given decided encouragement to business important than the ac- tion of one particular bank is the fat that its decision is a symptom of an almost comp!: city’s banking system. The group of s ks in the outlying sections which had been a source of sion for two years, severe pressure in the of June that the w closed. the strong p d 4 gth. and the doubtful secured such as to move out of the month i . are waiting without n for the anticipated up- iness nex £ American News- e. Inc.) cher 1 10 are lower and Tu nzed 2, while ANS building or refinane- ted properties. Prompt Reasonable rates. LC Real Estate Mortgage and Guaranty Corp. 1610 K St. Nat. 1403 RENT YCUR VACANT Property—Let Us Manage Your Real Estate—Real Service and Excellent Results Thos. E. Jarrell Co. Realtors 721 10th St. N.W National 0765 : = | ‘ First ?\Tortgage Loan | Applications on Residences Invited at 6% Glover & Flather 1598 H St. N.W. National 1753 you can action, to Over a Third of a Century Without a that the from $230 secured by improved Washington real estate. MORTGAGES YOU’LL HAVE NOTHING TO WCRRY ABOUT When you make investment in our 61,9, FIRST MORTGAGES safely forget the trans- be pleasantly reminded of it at the recurring periods when this generous interest will be paid —and meanwhile fully conscious principal is adequately conservatively appraised May be purchased in amounts up. SAUL CO. NO SUBSTITUTE FOR SAFETY 925 15th St. N:-W.