Evening Star Newspaper, September 17, 1932, Page 12

SOUTHERN DAIRIES | y _Prev 1932 Stock ana Sales— . | —Prev.1922 Stock ana Sales— ev. Stock and Sales— ]’ fign. Low. Dividend Rate, Add00. High. Low. Close. Chee. | High, Low. Dividend Rate. Add 00. High. Low. Clo 3 Dividend Rate, 00, 1Y : SHUWS lUWER NE 3 % Abitibf Pwr & Puper. 10 1% :% }Va 3% % Hayes Body......... 1 2 Tide WlurAn:u of .“‘M d? 2 14 Abitibi Pwr & Pa pt. T29% 13% Hercules Powder 1% 27 Tide Water As pf (§). 11% 3% Va-Car Chem §% pt.» s 1% Adams Express. 124 7% Holland Furnace. ... 9 Tide Wat OIL pf (5).+ 8 20" ViCar Chem 1% be. i 12 Adams Millis (2 17 131% 110 Homestake Min(t10) 6% 2 Timken-Detroit Axle. Bl 4% 34% 7% Vulcan Detinning....550s 24 s A%AcssaoETeTR’ 284 8% Houston Ofl. E 16% 16% 7% Timken Roller Bg(1) T % wa 4% Affiliated Prod 1. » - on Ol ( 24 Transamerica Corp 30% Alr Reduction (3) 8 Hudson & Man (3% T Ty XrcContuooe. % Alaska Juneau (50¢ 2% Hudson Motor Car. LT 31% 19% Trico Product % Alleghany Corp....] 1% Hupp Motors. % Alleg Cp p ww. 24% 4% Illinois Central % Alleg Cp pf $30 xw. s 46 15% lllinols Cent11 (4) 42% Allied Chem &D (6 2% 1 Indian Refining. 4 Allis-Chalmers Mfg. 40 T4 Industrial Rayon 12 Amerada Corp (2)... 44% 14% Ingersoll-Rand (2).. Southern Dairies, Inc., and subsid- 3% Am Agri Chem(Del). % Inspiration Copper 5 Am Bank Note 2% Interboro Rap Trans faries report for six months ended June 30, 1032, met loss of $240.760 after de- e i 4% Intercontl Rubber..« eciation, interest, amortization, sub- by % Int Cement. . pr 29% Am Can Co (15).. 0 % It GonibLton sidiary preferred dividends, etc., com- M e I i oss of $76,738 in first v e 10% Int Harvester (1.20). paring, with, net loss o 18" A Cherainary ¢ e Tiat aval ‘Am Chain onsolidated income account for six 3% Int Nickel of Can, ... 2 AmChicle (13) 1 Int Paper & Pwr (A). Eprisiendenidime % I, v Am Comel Alcohol RO G5 s g 1032, Am European Secur., 2% Int Tele & Teleg. s 3.006.606 Am & Forelgn Pwr. .. . g;:z 'n‘xl's'-lé. - ‘xm 971 Am&Forgn Pw pf(7) 181 Interstate D S pf(7) 32% 10 Johns-Manville, = “$22.050 Am & For Pwr 24 pf., Loss from oper. $168,365 Y ————————————— 21 50372 Am Home Prod 4.20 16% 2% Kansas City Southn. 9% 2 KaufmanDS (80c).. 5 28,323 Other income Am Ice (3).. 14% 4% Kayser (J) & Co..... AFTER EARLY GAIN Weakness in Steel Issues Causes Drop in Final *3 Trading. P Prev, 1933 Stock snd Bales— et low. Dividend Rate. Add 00, Kigh. Low. Close. Chse, 2% 3 Va-Car Chemical..... 8 1% 1% 1% A- & P. Sales Also Off During; i August—Bank Clearings g Improve in South. 7% Und-BILFisher ($06), 3% % Wavater Eisenlohr .. 16% Un Carbide & C(1.20) 84 Wesson Ol & Sn (1). 8 UnOilof Calif (1)a.. 66% West Pa Pwr pf (6)., 27% Unlon Pacific (6 80 West Pa Pwrpt (1), 6% Unit Afreraft. % Unit Cigar Stor: BY GEORGE T. Spectal Dispatch to The mr.!m““' NEW YORK, Se - 315 Unit Corp (40¢) of the steel mmflmwa“;?:nn{ 20 Unit Corp pf (3) market downward, after an early ghow 2% Unit Blectrle Coal.. 8 1 of strength. v Unit Fruit (2) Initial iR . Rigner: it e T iasntly 2 82 Y 3% Unit Piece Dye Wks.. - 7 7 6% White Motor, . shares the leaders, 1% U8 & Forn Secur 2% Wilcox Ofl & Gas. BT i e o 0 I 08 0 10% U S Gypsum (1.60) % Willys-Overland. gains of 1 to 3 points were nm.ld 13% U S Indus Alcohol. 11 Wilson & Co pf. The demonstration was similar to that 1% U S Leather.... 22 Woolworth (2.40). of Priday, affecting the same st ko_s ;4 3% U 8 Leather (A). § Worthington Pump. apparently conducted b thoc - 7% U S Pipe & Fdry (2).. 14% Worth Pump (A). parties. It was based on l”l’ ef ;m S D e LR 0 Welien (RmIih). traflic returns and on a more favoranie 8% U S Rubber 1st pf... T% 1% Yellow Truck.... attitude toward railway regulation. 10 USSmtg & Ref (1) _— Curio i Am International 21% U S Steel...... 1 . 9% 4% Zonite Products(60c) T% + % |the put:lfisgtlggm}sgrh I%Vigs:gmn ‘(‘m of a Am Locomotive. ... u 21 1% Kelly § g Spring Tire 6134 U S Steel pf (7). 1dend rate iven in the above tabl the annual | com, i Am Mach&Fdy(80c). 1 21, 1 Kelly-Spring etfs . 85 Dividend rates as g s ables are the snnual pilation of earnings of class 1 roads L & cash payments based on the latest quarterly or half-yearly decla- | for July. The report showed a gross of BY EDWARD C. STON FEEEEL F2 FESELSL e L Total income ...... $140.043 r., int. amort., sul {7 Pld. ‘divs. etc...... 100726 Net 1085 o....oo.... 769 L Am Mach & Met: # % United Stores (A). A. & P. Sales Fall Off. Great Atlantic & Pacific Tea Co. es- timates sales for five weeks ended Sep- tember 3, 1932, at $79,316,702, compar- ing with $93,981,527 in like period of 1931, a decrease of $14,664,825, or 15.6 er cent. 4 pTonnage sales for the five weeks’ period are estimated at 490,487, against 507,772 in the 19314per’|od. 2 decrease of 17,285 tons, or 3.4 per cent. Average weekly sales for the five weeks' period were $15,863,340, compar- ing with $18,796.305 in the 1931 period, a decrease of $2,932,965. Average week- ly tonnage sales were 98,097, against 101,554 in sxmuarf permat of ' previous ear, a decrease of 3457 tons. % Estimated sales for the 25 weeks ended September 3, 1932, without con- sideration of change in number of Stores during the year, total $463331,- 997, as compared with $541,173,401 for the like period of preceding year, a de- crease of $77,841,404, or 14.4 per cent. Estimated tonnage sales were 2,799,642, against 2,928,038, a decrease of 128,396 tons, or 4.4 per cent. Two Public Speaking Courses. An advanced course in public speak- ing and debate is to be added to the institute program this vear, according to announcement by Aubrey O. Dooley, chairman of the committee. Dr. George L. Farnham will teach both courses. Interest in debating has grown very fast in the institute and debates with nearby chapters are already planned for this year. i Sexgvmg on the committee with Chair- man Dooley are: Constance D. Fogle, Riggs National Bank; J. Earle Mc- Geary, W. B. Hibbs & Co.; Frank M. Perley, American Security & Trust Co.; E. Wallace Schreiner, Pirst National Bank of Alexandria, Va., and Robert H. Lacey, Columbia National Bank. Seasonal Trade Pick-Up Indicated. Local bankers and business men are encouraged by the gain in bank clear- ings in Southern cities during the past two weeks. As a trade barometer bank clearings are still given a high rating. In many cities canceled checks made a higher total a week ago than in the last week in August. This week they are better than last week, although weil below a year ago. Clearings in several Southern cities for this week and last are compared with the same week a year ago as fol- lows: Change. Bept.14, % year. Bept.T. Baltimore Richmond Norfolk ....... 2.523.000 Bank clearings as reported to Brad- street’s Weekly for the week ended Sep- tember 14 amounted to $4.595,419.000 at the 47 leading cities of the United States, compared with $4,102,403,000 for the preceding week, a gain of 12 Der cent, but was 39.9 per cent less than a year ago. Pepco Orders Power Unit. Stone & Webster Engineering Cor- poration has been authorized by the Potomac Electric Power Co. to place a contract with the General Electric Co. for a 35,000-kilowatt turbine generator unit, to be installed in the $5,000,000 power station to be constructed at Buz- zard Point, in Washington. The tur- bine equipment will operate at 650 pounds and a temperature of 825 de- grees Fahrenheit. Delivery is scheduled for June 1, 1933. The station designs permit the installation of additional units when required by the increase in electric load. City Plans $3,879,000 Bond Tosue. Bids will be received September 29 on g,aw,noo City of Baltimore 4 per cent nds. Long-term Baltimore 4s now are sell- ing to yield about 3.80 per cent. Early this year Bankers' Trust Co. National City Co., Chase-Harris-Forbes Corpora- 12 374 21% 4l 35% 7 434 95 6214 18% 2474 b 4 224 434 14% 1% 4 Am Metal Co. . Am Power & Light. # Am Radiator . Am Rolling M Am Smelt & Re: .. Am Smeltg & Ref pf. Am Smelt & R 2d pf.. Am Steel Foundry. Am Sugar (2)... - Am Tel & Teleg (9). AmTobacco B (16). i Am Tobacco pf (8) ..y Am Type Founders. . Am Water Wks (2).. Am Wat Wks cfs(2) . % Am Woolen. Am Woolen pi Am Zinc & Lead..... AmZinc & Lead pf. Anaconda Copper.... Armour of I11 (A) Armour of Il (B). Assoclated Appa Atch Topeka & 8 Fe Atlantic Coast Lin Atlantlc Refining (1), Atlas TacK......conn Auburn Auto (f4) 1 Austin Nichols. 1% Aviation Corp (Del). 2 Baldwin Locomotive 8 Baldwin Loco pt 3% Baltimore & Ohlo. 6 Baltimore & Ohto f.. 915 Bangor&Arostk (2).. 3% Barnsdall Corp. . 16% Beatric Creamery . 70 Beatrice Crm pf (7) 57% Belz N Ry pt pf 4.09. 4's Bendix Aviation 5% Hest & Co. 7% Bethlehem Steel 16% Bethlehem Steel pf. 4% Bohn Alumn & Bra: 20 Borden Co (2). 3% Borg Warner 2% Briggs Mfg Co.. 11% Bklyn Manhat Tran 114 Bucyrus-Erie. . 15 Budd (E G) Mfg % Budd Wheel. . 1% Burns Bros (B) 61 Burrghs A M ( 7 Bvers (A M) 4% Callfornia Packing. 14 Callahan Zinc & Ld.. 1% Calumet & Hecla. ..., 7% Canadian Pacific 16% Case (J 1) Co. 4% Caterpillar Trac 50c. 11 Celanese Corp T% Cent Aguirre (1%).. 2% Century Rib Mills. .. 313 Cerro de Pasco...... 16% Checker Cab (new).. 9% Ches & Ohio (2%).... 4% Chesapeake Corp (2). 1'4 Chi Great Western 215 Chi Great West pf... % Chi Mil StP & Pac. 13 Chi Mil StP & Pac pf. 2 Chi & Northwestern.. 1 Chi Pneu Tool.. 215 Chi Pneu Tool pf 1% Chi Rock I & Pacific. 4% ChiR1& Pac 7% of.. 6% Chi Yellow Cab (2).. 1% Childs Company 5 Chrysler Corp (1 3% City Stores T4% Coca Cola ( B 11 Colgate-Pal-Pete(1). 9 Colonial Beacon..... 4% Columbia Gas (b1). 4! Columbia Pic ctfs. 1315 Columb Carbon (2).. 10% Comel Inv Trust (2). 40 Comcl Cred 15t(6%). 31 Comecl Solv (60c).... *1% Comwlth & Southern. 27% Comwlth&Sou pf (6) 6% Congolm Nairn (1)... 3114 Consol Gas N Y (4).. 7214 Consol Gas NY pf(5). 4% Consol Laundries(1). 4 Consol Ol Corp. 14 Consol Textile. 75 Contl Baking (B). 17% Contl Can (2). 8 Cont Diamond Fibre.. 6% Cont Insurance(1.20) %, Contl Motors. 3% Contl Ofl (Dei) 24% Corn Products (3) (8] 1 SEFFIFEFE 2 I L3 +101+1 *4 I+4 1] f+) NS 1 2% 4% 6% 10 25 1% 5 30 6 3% 32% 34 81 9 13% 17 9 814 Tia 15 % 3 9 14 3 12 16 20% 3% 68 8514 Kelsey-Hayes Whe Kelvinator Corp. Kennecott Copper. .. Kresge (SS) Co (1).. Kroger Grocery (1 Lambert Co (15) Lee Rubber & Tire Lehigh Valley R R Lehman Corp (2.40) Lehn & Fink (2)..... Libbey Owens Glass.. Liggett & Myers(15). Ligeg & Myers B (15). Lima Locomotive Liquid Carbonie (1) Loew's, Inc (t4). Lorillard (P) (1.20) Lou Gas&El A (1%) Louisville & Nash. TLudlum Steel. MeccCrory Stores B. McCrory Strs pt (6) McKeesport T P (4). McKesson & Robbins Mack Trucks (1) Macy (HR) (n2).... Mallison & Co... - Manhat Elev gtd (7). Manhat Elev mod gtd Marine Midida (80c). . Marmon Motor Car. .. Marshall Field & Co.. Mathieson Alk(1%). Mathieson Alk pf(7). May Dept Stores (1). Maytag pf ww....... Midland Steel Prod. . Mo Kan & Texas pf.. Missouri Pacific. . Missouri Pacific pf. Montgomery Ward Mother Lode . Motor Products (2).. Mullins Mfs g Murray Cor’ Nash Motors (1) Nat Biscuit (2.80 Nat Cash Reg (A) . Nat Dairy Prod (2) t Dist Prod (2). Nat Dist pf (12.90).. Nat Lead pf A (7)... Nat Pwr & Lt (1). Nat Steel (50c) . Nat Supply pf. Neisner Brothe! Nevada Con Copper. N Y Chicago & St L... N Y N H & Hartford. N Y Ont & Western. ., NYSteampf (6).... Noranda Min (a50¢). Norfolk & West (8).. North Am Aviation. . Nor Amer(b10 % stk) Northern Pacific. ..... Northwest Tele (3).. Ohio Oil (a40c). .. .. Oliver Farm Equip Oppenheim Collins Otis Elevator (1%).. Otis Steel. .. Otis Steel pr pf. = Owens 111 Glass (2).. Pacific Gas & El (2).. Pacific Lighting (3). Pacific MIlIS. ....... Pacific Tel&Teleg(7) Pacific T & T pf (6) Packard Motor Car Panh¥ndle P & R pf. Paramount Publix. .. Park Utah. .. Parmelee Trans Pathe Exchange. Pathe Exchange Penick & Ford (1 Penney (J.C.) 1.30. .. Penney (JC) pf A (6) Penn Coal & Coke. 4 Penn Dixie Cmt pf. Penna Rallroad. Peoples Gas Chi (5). Petrol Corp of Am... & Phelps Dodge. . PhilaCo 6% (3)..... Phila Co pf(6) new.. Phila & Read C& 1 Phillips-Jones Co...: Phillips Petroleum. . 4 Phoenix Hosiery 12 Univ Leaf Tob (2 14 Univ Pipe & Rad. 10% 1% Util Pwr & Lt (A 23% 6% Vanadium Corp. in stock. ) Plus $1 in ons. 5 Unit of trading less than 100 shares. tPartly extrs. $Plus 4% in stock. & Paid r stock. e Payable in cash or stock. this year—no_regular rate. b Payable in £ Plus 8% in stock. h Plus 2% special preferred stock. k Plud 3% in stock. P m Paid last year—no regula: rate. nPlus 5% in stock. D Payable 18% 14% — %! in scriv. x Ex-dividend. MUNICIPAL BONDS INBETTER DEMAND "lnvestors Show Favorable Attitude Toward City Obliga- tions—Supply Smaller. Special Dispatch to The Star. NEW YORK, September 17.—The im- proved attitude of large and discrimi- nating investors toward the municipal bond market is fllustrated in the pur- chase this week by a life insurance company of $3,500,000 of various issues ' of city and State securities. This is in contrast to the recent policy of this institution and others in the same field which were not friendly to bonds of this type until it had been demonstrated that local and State gov- ernments were taking seriously the demand from taxpayers that they re- duce their expenses and balance their budgets Available Supply Reduced. ‘The effect of this purchase and others made recently is to reduce the avail- able supply of municipal bonds to the lowest figure in a long time. Normally the amount available to investors runs from $75,000,000 to $100,000,000. At present it is understood to be less than $10.000,000. Furthermore, there is not much prospect of an increase in the supply, as the current program of public improvements is a modest one and it is only the municipalities that ! enjoy a high credit that are now able to sell their bonds. Conditions among the smaller cities and boroughs, With bank loans which they would like to refund into long-term obligations, have shown little change in recent weeks. The existing credit rating of dif- ferent States is suggested in the basis at_which their obligations are now selling. Those of California are quoted to vield between 3.90 and 3.80 per cent, of Tllinois at 3.90. of Kansas at 3.75, of Maryland at 3.60, of Massachusetts at 3.50, of Minnesota at 3.70, of Mis- souri at 3.85, of New Jersey between | 350 and 390 depending upon maturi- ties and coupon rates, of New York State as low as 3.15 for one issue of 3.5 and 3.60 for the 5 per cent bonds due in 1971, of Rhode Island at 3.65 per cent, of Vermont between 3.25 and 3.65. of Virginia at 3.65. and of West Virginia around a 4 per cent basis. Credit Rating. In contrast to these low rates arc those of 5 to 5.25 per cent for the bonds of Tennessee and 550 to 5.60 per cent for those of Louisiana and South Dakota. It is of interest to note the credit rating of some of the States, as re- flected in the basis on which their obligations are quoted, compared with those of the United States Government. For instance, U. S. Treasury 4s, which may be called in 1944, are quoted to| yield arourd 3.60 per cent, while the registered 31is of New York State, due in 1944, are held on a basis of 3.15 per cent. State of New Jersey STOCK TRENDS S History of Exchange BY CHARLES ¥. SPEARE. Special Dispatch to The Star. NEW YORK, September 17.—The history of most stock market move- ments is that they follow either an up or down trend for a certain length of time until sentiment runs so pre-| | dominantly in one direction or the other that an abrupt change occurs just when it is least expected. This has been true of the latest stage of the market's course. For two months it had been rising with only an oc- | casional reaction. until the fecling be- gan to permeate speculative quarte: that its permanent direction was up- ward. Then suddenly it took an op- posite course and in less than a week popular stocks are found to be from 20 to nearly 50 per cent below recent quotations. The chronology of the market in the | past three years records a large num- ber of prolonged movements in prices in a single direction. The first phase of the liquidating period was that be- tween September and November., 1929. when stocks had their first violent break. The next significant trend was that between February and April, 1930, when the rise continued long enough to convince many investors that the worst of the depression was over and that stocks generally were cheap on the basis of their average level the year previous. Trend Changed Suddenly. This _theory was exploded in the September-November break agd in sub- sequent periods of from two to three months the market droped for so long a time that investors became convinced that what they owned had little value The last phase of this movement was that between March and June this year, when owners of securities as a class were inclined to give up the ghost and to charge off as worthless many of the common stocks and junior bonds that were in their portfolios. At sbout this time, when every one was thinking along the same line, the market unexpectedly began to strength- en and soon entered what is recognized as the most remarkable come-back it has ever staged. For two months stocks went up. Those who had believed | them to be of no account were hypno- | tized by what they witnessed from day | to day in Wall Street, until they were willing to buy any old thing at any | | price.. Again the scene has quickly shifted when least anticipated and those who were gullible enough to listen to the pool manipulators and the stock riggers have on their hands securities | that are worth today from one-quarter | to one-half the market valuation of a week ago. The first phase of the Tecent bull market was a legitimate response to a definite improvement in political and economic conditions here and abroad and to the gradual moulding of a dif- ferent sentiment in_business circles. It was participated in by many who knew | values and realized that thege Were HIFT QUICKLY AGAINST MAJORITY SENTIMENT ShOWS Turn IS Near When Most Traders Are on Same i Side of the Market. cally all groups or stocks were rising together to one in which there was a Totation among popular stocks or groups of stocks—today the coppers being bid up sharply, tomorrow the motors, the next day the public utilities and then the rails always available when there seemed to be an exhaustion of oppor- tunity in the others—it was a sign that the speculator was cracking the whip in the market arena while the out-and- out investor was content to sit back and look on. Political Events. " Again sventlmcnr. had moved too much in one direction to suit those who by experience know that when this hap- pens it is time to sell stocks in & rising market or to buy them in & market that has long been declining. The frequency with which important events seem to synchronize with the climax of a buying or a selling move- ment is also an interesting phase of | stock market history. One of the se- verest periogs of liquidation had reached a climax when the Hoover moratorium was announced in June, 1931. The last period of liquidation | had been concluded when the Lausanne Conference came to a successful end. This week the market had begun to totter a little when the Maine election results were announced and became an unlooked for factor in determining the immediate trend of prices. The stock market seems always to be helped out of its troubles by some unanticipated event appearing in bearish times and to be the victim of unafvorable devepol- ments which upset the apple cart of the bulls when thev least expect it. (Copyri 1932) Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md, September 17.— White potatoes, 100 pounds, 75a1.05; Maryland and Virginia Cobblers, bar- Tel, 125a1.50; sweet potatoes, bushel, 30a80; beans, bushel, 60al.15; beets, 100, 1.50a2.00; cabbage, bushel, 35a40; carrots, 100, 1.50a2.00; caulifiower, crate, 2.00: celery, crate, 75a1.25: cu- cumbers, bushel, 1.50a1.7; corn. dozen, 8a12; eggplants, hamper, 20a25: let- tuce, crate, 250a3.25: lima bushel, 1.00a1.25: onions, per pounds, 85a1.00: peas. bushel, 2.00a2.40; peppers. hamper, 15a25; squash, bushel, 30a40; spinach, bushel, 1.00a1.20; to- matoes, hamper, 20a40; canners’ stock, bushel, 30a35; apples, bushel, 50a1.00; cantaloupes, hamper, 15a35; grapes, basket, 25a30: peaches, bushel, 75a2.00: pears, bushel. 1.00al25; watermelons, 100, 3.00a25.00. Dairy Markets, Chickens—Young, 13a18; Leghorns, 12a15; old hens, 14a18; Leghorns, 11a12; roosters, 9al0; ducks, 1lal4; 41,5, due in 1941, are quoted to yield | then available to them some of the | pigeons, pair, 10al3; guinea fowls, 3.75 per cent and the Treasury 4lss, callable in 1947, are listed at 3.60. New York State notes due next May | greatest bargains of a lifetime in secur- “ ities. As always happens, speculative operators took advantage of a situation | 25a45. Eggs—Receipts. 1,616 cases: current receipts, dozen, 17a18; hennery whites, $237,813,054, against $377.004574 for 167 railroads on the month and a net of $11,596,852, against $56.960,117, the comparison being made with July, 1931. The leaders, while the buying was in progress, were Lackawanna, Southern Pacific and New York Central. Most, if not all, of the gain was lost in the second hour reaction. It was the weakness in United States Steel preferred, and to a lesser degree in the common, which checked the buy- ing in the rails and gave the whole list a heavy appearance. Steel preferred at one time was down 4 pojnts. with the common under $39 a share, in contrast to its recent high above 52 only some 10 days ago. Unofficial forecasts of a poor third~ quarter earnings statement by the Steel Corporation were responsible for the selling. Directors meet October 25 to act on the preferred dividend and it was recalled that Chairman Taylor said after the July meeting that “improve- ment in business and earnings must in future determine dividend action on the preferred stock.” Volume was relatively light through- out the session and, taking it as a whole, the market gave no indication of having established a trend. An incident illustrative of the thin market for utility preferred stocks was the advertising on the tape of an of- fering of Philadelphia Co. 6 per cent new at 71, with the bid price 7 points lower. Eventualy a sale was made at 68, an 8.8 per cent return. The state- ment of Philadelphia Co. for the 12 months ending July 31 showed net available for preferred dividends of $10,731,637, against preferred dividend requirements of $3,720,837, a wide margin. Washington Produce Butter—One-pound prints, 93 score, 24; 92 score, 21; standard, 20; tub, 93 score, 22; 92 score, 20; standard, 19. Eggs—Hennery whites, 23a25; cur- rent receipts, 18a21; sealed Government graded, extras, 36; standards, 31; me- diums, 29. Poultry, alive— Turkeys, hens, 15: toms, 13; crooked breasts, 10: Spring turkeys, 20a23: chickens, Plymouth Rocks, 3 pounds and over, 17a19; 214 to 3 pounds, 15a16; under 2i: pounds, 15; hens, small, 13a14; hens, large, 15a 1 Leghorn hens, 11a13; mixed colored chickens, 14a15; roosters, 9; keats, per pair, young, 1.00; old, 50. Poultry, dressed—Turkeys, hens. 18; toms, 16: crooked breasts, 13; chickens, Plymouth Rocks, 3 pounds and over, 20a22; 21> to 3 pounds, 18al9; under 21 pounds, 18; hens, small, 16alT; hens, large, 18a21; Leghorn hens, 14a16; mixed colored chickens, 17a18; roost- ers, 12. Meats—Beef, 15; lamb, 14: veal, 11: pork loins, 17; fresh hams, 14; smoked hams, 15: strip bacon, 14: lard, H compound, Fruits—Cantaloupes, jumbos, 1.25; standards, 1.00; apples, bushels, 50a 1.00; box stock, 2.00a2.25; peaches, 1.00 00; pears Bartletts, bushels, 1.25a fancy box stock, a2.00; grapes, Tokays, 2.00: Thompson seedless, 2.00; muscatels, 1.35 A 1.00a2.25; oranges, 3.0024.00; lemons.7.50 28.00; grapefruit, 3.75a4.25; plums, 1.50a 1.75; honeydews, 1.75a2.25; honeyballs, 2.25a2.7! Persian melons, 2 Vegetables—Potatocs, 100 -pound sacks, 1.00a1.10; Idaho bakers, 225 sweets, bushels, 60a1.00: string beans, 1.00a1.50; limas, 1.50; peas, 2.50; car- rots, per 100 bunches, 3.00: beets, per 100 ‘bunches, 3.00; squash. 50a65: Hub- bard squash, 1.50; spinach, 1.50; kale, 50; Spanish onions, 50-pound sacl 1.50; tomatoes, 2-peck baskets 60a75; peppers, 75: eggplant, 1.00: cauliflower, 1.75a2.00; bunches, 75a1.00. U. S. TREASURY BALANCE. By the Associated Press. tion and associates marketed an issue of $4,200,000 Baltimore 4s at prices to yield 4.75 per cent. The city has bor- rowed in recent months around $10,- % Cuban-Am . 000,000 in anticipation of tax collec- 7 Curtis Publishing tions, the most recent loan of $1,000,000 47 Curtis Publish pf(7). being obtained at 3 per cent. 7 Curtiss Wright... The city is considering voting on|[__4% 11 Curtis Wricht (AV. .. $22,000,000 bonds in November. At 9% 1 Davison Chemica; present Baltimore is $14,000,000 within! 9244 32 Del & Hudson (6)... Producers & Refin. .. its debt-incurring margin. 45% 8% DeFLack & Wester: Public Sve N J(3.2 115 Denver & RG W pf.. 5 5 Al 99 3 Sve GEE s Earnings Prospects Betier. 12 Diamond Match (1).. ‘ S e et ‘The sharp spurt in certain industries 715 Dome Mines(11.30). . 2% PureOil..... . manufacturing consumers’ goods, com- 11% Dominion Storest1% 80 B0 PureOilpf (8 bined with the rise in commodity prices, 5 Doug Alrcraft (75¢). 5 15% 4% Purity Bakeries (1).. has improved considerably the earnings 23 Drug Corp (4)....... 3 = = prospects for companies in those 22 Dupontde Nem (2).. 45 4 36% 18% 2% Radio Corp. branches over the balance of this year, Duques Lt 1st pf (5) 360 Haal S Moody's Investors’ Service states today ';‘V: IRK‘::“ (I:(Otrixl’hptDB.h in its monthly “Positions of Industries. 35% Eastman Kodak (3). e Boat Sitk Hnm’r"y e Due to the improvement shown in cot- 14 Eitington-Schild. ..., 3 Rels (Robert) & Co. ton and cotton mills, rayon, silk, wool 813 Elec Auto-L (1.20) . % tiniing fon"ranals and tires, these industries have been 1, Electric Boat. h A Rt advanced temporarily from the ‘“poor 7 Elec&Musical Instru. 1% Repubiic Steel. to fair” to the “fair” position in in- 2% Elec PRr & Lt....... pHbCSige e dustrial classification. A 10% Elec Pwr & Lt pf (7) owever, these ustries are nof « Elec Stox 2). 3 < Suncalls’ 46 arer prodaction and price o L U R % Eweeolis Moot cutting and a real improvement in their{ 19 12 Equit Office Bldg 1%. % 261 ReynoldsTob B (3) investment status will require a very) 11% 2 ErieRR.... % Richfleld Of1 Re prolonged recovery, Moody's comments.| 15% 2% Erie RR 1stpf 1% Rio Grande O 53 = Credit Expansion Good Sign. 22 :'/' :':ad %v“.&l"'s‘;‘:v;::k s 30% Safeway Stor The important measures of business © Fidelity-Phoen 120, . 69 Safeway Strapf (7). activity show further slow but steady R s 4% St Joseph Lead L expansion, says the Business Week, in Fisk Rubber 15t pf. .. 7 Schulte Retail spite of the unsettlement in speculative Fisk Rub 18t pf cv. . % Seaboard Afr Line security and commodity markets pre- Follanabee BIo 6% Seaboard Oil Del cipitated by disturbances of the political Foster-Wheele: % Sears Roebuck. atmosphere from Maine to Oregon. Foundation Co 1% Servel Inc... Improvement in the business indicators Fourth Nat Inv 1. 114 Sharon Steel Hoop. is mainly ty way of better showing in Fox Film (A)... & Shattuck (FH) 50c comparison with a year ago, when the Freeport-Texas (2).. 2% Shell Union Ofl. . trend was downward, but in some cases 24 Fuller Co pr pf. 18 Shell Union Ofl pf. increases in activity exceed seasonal 2% Simmons Co. expectations. 15 Gen Am Investor: 214 "Skelly Ofl. . In August for the first time for 17 9% Gen Am Tank Car(1). 3% Sioss Sheffield Steel., months, or since March, 1931, the 4% Gen Asphalt.... 6 * Sloss-Sheff Steel pt.. American Institute of Finance index s 20 GenCigar (4). 2% Snider Packing...... of business activity turned upward. The 814 Gen Electric (40c) | 5% Socony-Vac (30¢). institute index now stands 5, up 10% Gen Elec spec (60c) 433 So Porto Ric S(a40c). two points from where it stobd at the 19% Gen Foods (2). . 15% Southern Cal Ed(2).. . Improvement has been o 6% Southern Pacific entirely in trade activities. 213 Southern Railway... Partisans are prone to exaggerate , 3 Southern Railway pf. the importance of the political outcome 1 Sparks-Withington. ., in its effect on bhusiness, states th2 8% Btand Brands (1.20).. United Business Service. Whichever |. 7% Stand Gas & Elec (2). party wins in November will be equally % Stand Invest Corp. .. interested in promoting prosperity, 15% Stand Ofl Calif (2)... both for political reasons and for the 7 Stand Oil Kansas.... 'good of the country. 5 Gen Realty & Utll pf. 19% Stand Ol N J (12)... gad 10% Gillette Saf Ras (1).. 1 Sterling Secur (A)... _ 1% Stewart Warner..... Large Copper Exports Reported. «)n 4% Stone & Webster. 2% Goodrich (BF 2% Studebaker Corp. _%%meogm"g?figz {:fib‘:fi’n 5% Goodyear Tire&Rub.. 36% 24% SunOfl (1). shipped recently through Baltimore, it T4 Gotham Silk Hoslery 1 Superior Ofl. has just become known. The Coelleda iy, Bupesior Bisel” sailed August 30 with 6,726,896 pounds 13% 6 Telautograph (1). and on September 3 the Clairton left| o e 4% 1 Tennessee Corp. with 4,483,544 pounds. The exports 9% Texas Corp (1).. were the largest recorded for a long 12 Tex Gulf Sulph (2).. 2% Tex Pacific Land T+ % Thermotd Co.... 10 Third Natl Inv (1) % Thompson Starrett. . \ are quoted as high as & 1 per cent|of this sort and used it to create profits | 25a27; Western firsts, 19a20; nearby| Treasury receipts for September 15 basis which, considering there is such | for themselves. firsts, 19a20. were $1.292,981,962.91; expenditures, a strong demand for all short Gov-| when the market gradually passed| Butter—Good to fancy, creamery. 18| $690,655498.43; balance, $862.241.064.24 ernment paper, makes a favorable cOM- | from one in which there was a uniform | a23; ladles. 13al4; process, 15a16; store | Customs dities for 15 days of September e 2 per cents | movement in prices and when practi- packed, 10all. were_$11,720,899.69. due at the same time. | =" == issues than for Treasury obligations, ST TRUST owing to the fact that the probable | supply of the one will be small in the | | po tno assoctatea Press. Government Issues. week from the following centers, on the basis of comparisons with condi- » J. LEO KOLF The threat of bonus payment, tions in the same areas in the corresponding week last year: 804 17th St. 1237 Wisc. Ave. considerable anxiety in Treasury circles hica, Fair Quiet Fair Fair and among the banks that hold large glevelgnr:ld' Quiet Slow amounts of Government obligations. Detroit .. , Slow the long-term or short-term Treasury ilwaukee i i Slow notes, the prospect of Government i e ; e financing on a scale required to meet _— , y il tion is tempering the attitude of in- vestors toward the high-grade bond P y e market. St. Paul " Slow 16 Crucible Steel pf... 14 Cuba Co. Pierce Petroleum. Pitts United Corp. Pitts United pf...... 100, Port Ric Am Tob(A). Postal Tel&Cable pf. Prairie Pipe Line. Pressed Steel Car. . ... Proctor & Gamble(3) First Mortgage Loans STEEA Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. Slow Good - Slow Slow Good Money on Hand to Loan on 8 e e 5t With some investors there is greater preference today for outstanding statei Trade Reports at a Glance. - gt X yoa. (NhIISFUREICEthefc e tny NEW YORK, Scptember 17.—Tabloid review of wholesale and retail NOTES FOR SALE be unlimited. business conditions and the state of crops as reported to Bradstreet's this b irade. ‘trace. Sons. crops. a strong protest, is already causing Eibthangh: L el e Saliaead. fen Gy While so far there has not been any 4 Slow reflection of this in prices of either e b the bo t and the needs of the Teconsiraction. Fimance Corpora- Kansas City ... I 0 First Deed of Trust 6% Interest Reasonable Commission and Prompt Rzplies to Applications JAMES F. SHEA 643 Indiana Ave. N.W. (Copyright. 1632.) B0 Fair slow Comment. GERMAN BANKS PLAN e Whelee cont rade mpreing; pat-gacs producion EXPANSION OF CREDIT | | siow ablensr e i i e "and profs best in seversl weeks: By the Associated Press. unfl 1 orders increase; lumber mills moving more stock. né?e:‘ei:ng—gl;vnnad and Youngstown steel districts on 17 per cent BERLIN, September 17.—To provide added credit facilities, leading German ction basis; produce receipts decline; farmers withhold shipments y:sd !:‘etter prices; ('l,pttmism not yet translated into increased general ac- tivit bands, headed by the Reichbank and the Gold Discount Bank, are perfecting ty. 3 ‘Detroit—Wholesale inquiries more numerous; auto factories werking on introduction of 1933 models; sugar beet crop estimated the largest in plans for establishment of an “insti- tute for financing industry” with a State’s history. . Indianapolis—Wholesaling improves, but volume continues beby 1931; probable capital of 30,000,000 marks Fall buying Afilmum ““é: tknd:é furniture production increases; m.her’ ($7500,000). industries dull; col ions backward. e purpose ki ouisvilleTobacco factories on full schedule; wholesale trade steadily lr:z':npc‘:ed.lu 1;‘:%2;? b.:oks,uelrnbm improving; mining activity reflected in increased employment for both the latter to extend new credits to miners and rail workers. trade and industry. — e —— NEW YORK BANK STOCKS ee—Retall volume fair; clothing dealers anticipate active Fall M::::x:‘;k ‘manufacturing continues below normal; tobacco harvesting NEW YORK, September 17 (P).— Over-the-counter market: well advanced. Quotations as of 10 O’clock. Vo =8 I P g I ++ rEE S 28ave PRI s U4+ Frsas 1+ 5 FIRST MORTGAGE LOANS FOR BUYING FOR BUILDING FOR REFINANCING Completed Properties \ Prompt Attention Reasonable Rates p 4 ) & [l 5 ] FEFEE + Des Moines—Farmers’ holiday a deterring factor to trade; tire sales increase; wholulungudl?ppolnung; building dormant; collections back- ward; corn ent. buxumfg.;::rfi trade continues to lag; manufacturing and mining below normal: collections hard to make: building dormant. Kansas City—Wholesale trade and manufacturing f e active; retail sales better, stocks low; zinc prices reach highest level since October, 1931; live stock market steady. ‘Wholesale Fall trade negligible; State Fair attendance Sufidiag staghant: raliroads Teport heavy Erain L R 28 Gen Mills (3). 76 Gen Mills pf (6) 7% Gen Motors (1). 56% Gen Motors pf (5)... 1 Gen Public Service. . % Gen Realty & Util. +1+ e +1 & I £ FEEFE FFEFEE § T+l + ‘Nat lonal nhattan (2) ....... 4 . g proves, as does manufacturing; Fall ap- Paotse 2, 2 5 parel sales noteworthy; food commodities equal 1931 in tonnage and price; crops favorably. ~ Department store 2 lesale good fill-in orders increase; lclitoe sales teed n‘fi;’:rc:xen“;nc:lmofl; x:ufl':,opennn( at m Es‘l’m 50 per cent capacity. . | l s‘e'ul:‘em than 1931; wholesale um'l:‘ery‘,.“;h:‘:-h::“&d mua.‘,":‘mfl ‘HDI'TEABE & Gum\ instan e e R il ot S e CORPORATION | ; wheat receipts below last season’s: dry weal 1610 K 8t N.W. National 1408 LA AIANNEERE RS Fssseseesrssye § & e ER YLLR - TIPS PN P [ £ E 1 | Chemical (1.80) .. !l: Csntmenhll fl.m . nts were for London ‘Both consignme: livery, but it is rumored thagethe el metal {8 for Russian order. RO 100