Evening Star Newspaper, September 22, 1932, Page 13

THE EVENING STAR, WASHINGTON, D. C, THURSDAY, SEPTEMBER 22, 1932. MOTOR MERGER PLANS | CHICAGO STOCK MARKET |LONG-TERM U. S. BONDS EXPLAINED IN LETTER| o/ io0 o, im_re| COMMAND HIGH PRICES ] lowing is the complete official list of transactions in stocks on the Chicago | SPecial Dispatch to Tae Star. NEW YORK, September 23.—The Stock Exchange today: Sales. _ |strength in all of the long-term Gov- ernment bonds and short-term Treasury notes, now selling at highest prices of the year, is significant in view of the fear of another bonus payment and also additional Government financing order to defray Government expuuu It is apparent there has been no great | [} change in the attitude of those who |l have been buying Government paper . and are still using this as an_outlet for their idle funds. In spite of what may develop later in the year or in the first hxll of 1933, Government bonds maintained their premium over the rank and file of corporation plper The Treasury balance this week amounts to nearly $900,000,000, indi- cating that no Imgedhu requirements are necessary. ‘easury recel] 1 the first two and one-half moml q; the new fiscal year show an increase in miscellaneous internal revenues of about $30,000,000, and decreases of $105,000,000 in income taxes, of $75,- 000,00 in total internal revenue and of $36,000,000 in customs receipts. H GOLD REPLACING BONDS | AS NOTE COLLATERAL “ | By the Assoctated Press. NEW YORK, September 22.—An in- crease of more than $200, 000,000 in v.hu country’s money gold Im 1 and the return of about uuooom of money from hoarding has caused im- o 300U § Rud & T 5 Komm changes in the nature of col- 70 nd s | leteral placed by the reserve banks be- hind their note issues. The volume of United States securities so pledged has 117 | declined by $149,000,000 from its maxi- mum of $682,000,000 on July 6. The amount of gold used as collateral has increased about $204,000,000, while the agg.ble paper has decreased $138,000,- Poreigners Buying Stocks. NEW YO mmd!mnx. hcr”(ln Attention of forelgn investors and speculators has been focused on stocks of the aforementioned group, it is con- 1- | tended. by evidence which ‘they have rl.hcred indicating Europe wil be .r:x!:e to bu mmmx:thuy of Which would be benefitted by |15 ndersiooq that considerable Fevision unmmnun in the position of 'hn”z o:"é:g'zwp-n w)r:ne-: aop]:ulhok 15 BONDS ON THE CURB MARKET. OUTLOOK IN STEEL DECLARED BETTER % Producers and Consumers Feel Confident of Fourth- Quarter Gains. DONETI0 Ot Low, Close. sve 80 les in ousands. 0 Alabama Pw 415867 59 Alabama, s Alenem & 5 'u 73 » Amer Bl PoI' o ‘By the Associated Press. NEW YORK, September 28—Detalls - ‘”"‘""' P cter of the merger agreement between the White Motor Co. and the Studebaker Corporation are contained in & letter mailed to stockholders of the former or- ganization, made public today. In recommending th® prompt deposit of stock, as proposed in the plan, the White company states that 650,000 shares of its stock are outstanding, of which 40,000 shares had been held in the treasury. The letter explains that 15,000 shares were withérawn from the treasury and | were to be distributed among employes in recognition of their services and whom, both concerns agreed, should be % | retained in the new organization. These shares, it was added, will be deposited under the terms of the exchange offer. R. W. Wcodruff, chairman of the White board, while approving the plan, stated he had declined to participate ‘n this stock distribution. Mr. Woodruff, who conducted the merger negotiations, also said no fees or commissicns are to be paid to any one in the transaction. The letter adds that the Studebaker offer is contingent upon the acceptance by three-fourths of the outstanding stock of the White company, but that the Studebeker Corpdration may, at its option, carry out the plan upen accept- n&::k by two-thirds of the outstanding FEF 2 B2 eolulual B nn ! * s FEEES TR ITFE & (Y Y AIC lbu'llmrf £ > ‘5 Budnal B Suta bl By the Associated Press. NEW YORK, September 22.—Although there is naturally disappointment in the steel industry that September busi- ness has fallen short of even mod- erate expectation, this is tempered somewhat by the widespread confl- dence among consumers as well as pro- ducers of steel that measurable im- provement is merely delayed and will make itself felt during the fourth quar- ter, Iron Age says. “I'is confidence, though unsupported by signs of important steel tonnage, otner than the projects cFoutw nnng%erd by the Reconstruction Finance -] gt Servlee’ 53 poration, finds its principal basis in 11 Git Serv Gas Blas '42 the virtually complete absence of steel 19 it Serv Pow 5las 132 Stocks in the hands of manufacturing 8 Comwh Ed 415 'C 136 1 Sonsumers, together with the belief that the country'’s minimum require- ments cannot much longer be sup- plied by the present meager output. Stocks Are Low. “Although the steel industry has more than ample capacity to take care of the country's requirements, the point is now being siressed that much of the equipment cannot be quickly brought into service because of long idleness. A sudden increase in demand for steel might find many consumers Waiting for shipments much beyond the brief time they have become ac- custemed to during the pas + few years. Steel companies are trying to convince consumers of this condition in order fo bring about reasoneble replenish- ent of stocks. ment O pared with the exceedingly poor month of August, steel sales thus far in September have gained, but the ment is more impressive on 8 pnrcentagehbuts (;\t'znk:orx“;?:;llge ‘The increases have N 3 all products and are Parely hpz;‘fl’gtlge roduction, Whi - ii‘mi‘fé‘ ‘{‘2,‘,‘°'m‘3‘°‘3\;:-§“m er cent the country’s ca; v oo ‘W?re products Rave made the best ehowing and are being produced in the Chicago district at 25 per cent of ca- pacity. Tin plate rollings have been Heoped up to an average of 35 per cent largely to provide for the late tomato pack and there have been orders in Peme districts for sheets and bars. At Chicago steel sales and contract speci fications were the best in 11 weeks, but the comparison is (;sxltln a period of the arket's greatest dullncss. " Pig e Gales have also expanded in the Chicago district and aTe holding up fairly well clsewhere. A New England elter has bought 5,000 tons, some of it for delivery early next year. Pig iron contracting for the fourth qusrter re- flects the belief of foundry operators that their business will improve during the remaincer of the year. Price Undertone Strong. “Some of the recent buoyancy of the scrap market has disappeared, but the undertcne of prices is still strong and price changes. though less numerous, are entirely on the upside. Heavy melting steel has advanced at Pif burgh to an average of $9.75 a ton delivered, bring- ing the Iron Age composite price fof this grade to $7.75, the highest figure since Anril and within 75 cents a ton of the peak for this year in January. “Railroad repair work constitutes t: most important prospect of the steel in- dustry for the immediate future, not- withstanding the slowness of the car- riers to epplv for equipment loans from the Reconstruction Finance Corpora- tion.” Pt #EF TR el il lm 44 C Tel_Uul 6s 33 3 i . it cespusnseEe s aeuIpgLEs: SR R R CX SumaseSeoce Quality -+ Economy Everything you purchase the 4§00 Way represents the maximum of value . . . you always receive Quality at a Saving. TR 5 I Tel Can 55 C '80 b 55 15 TR0 B Ty [X Core SSuswswe =S-G8e. 90(5:« s 1St FEEE ige 1400 Gigsby-Grunow jgoHan Print =g sogagaSes S 10-0s. Lang’s Pickles. ..2 10 §5¢ ASCO Pure Jelly. ... .5 15¢ 4500 Doughnuts. . . .pks. 10¢ Crook’s Catsup. . .2 vots. 25¢ Sunrise Kztchup. .3 bots. 25¢ Ncat White ‘T'yna Fisb «...ean 15¢ o Crushed Corn 3 eans 25¢ 4500 Tiny Peas. .2 cans 29¢ Farmdale Peas. .. .2 cans 25¢ 3 31 &nt Siat Tieg 14 Cent Bt Elec 3'2s 26 Cent 8t P&L 5'3s '53 Seue & 150 Lynen Coip 3000 Marshall Field . 550 Mid~ We: -Fene S e L3 A Beautiful Etched Crystal Jam Dish With each pound jar 19° *Pay the regular price for the jam— the 'dish is a gift! 200 Nobiiti-Spaiks 90 Nor Am Car 50 Perfect 0 50 Raytheon Vi 50 Ryerson 400 Seab Uil 1Cont G 13 Continen ou 5 n O Ed 518 B '59 78 Ohla P&L 5‘:5 5‘ Fl tla Elec 5las 50 Wi ) 1850 Walgreen .. s 20 Ward Mont A 150 Zenith Rad. 7000 Tnsull U1l 65 1640, e ooy 40000 shares. Bond sales today—$7.000. BAL/ TIMOBE STOCKS. Special Dispateh to The BALTIMORE, September 22.— Sal STOCKS, Last sales. | "5 Avpalachian, Corp ... 30 alto ptd. 50 Commercial Credit 14 pi 19 Consolidated Ges com.. 2 Fe R 15 FN\ Rub 5')( 3\ tud da P & L 55 94 5 That is to say, the gold returning rom abroad is replacing both United 'stalu securities and eligible paper as coilateral for reserve notes. Mean- while the reserve notes outstanding have decreased by $79,000,000. If this continued all the United States security | eollateral for reserve notes may be sup- « | planted by gold. New Pack NSCo Pinest TOmatoes. . .3 med. cans 25¢ New Pack NsoPiest Tomatoes. . . .2 vig cans 27¢ California Sardines 2 big oval cans 15¢ ASC0 Corn Starch 5 Gatin 1 Gen Bromze 1 Gen Rermactor 5 33 3 Georgia Power 58 fi; Reg. Sc Triangle Salt 3 plgs. 10 A Daily Need at a Savings Victor Bread The Economy Loaf Used in Thousands of Homes Pound Pan Loaf 5c 3..13. Try some baked. A4SC0 Tomato Puree. .2 cans 13c | Kraft Grated Cheese . 10c Reg. 7c 45C0 B Reg. 33c Gold Medal Gelatine Desserts = Bisquick A An easily made gessert. Biscuits in a Jiffy. Michigan celery growers have inau- 4| gurated an_inspection of their ship- Faents to Illinols to prevent spread of | the corn boi 170 New Amsterdam Cas Co 20 Pa Water & P ver . 270U 8 ndemy & Guaranty.. 9,000 United 3 Texas Elec 55 '60 wi 3 Texas Gas Ut 65 45 1 22 Texas P & L 55 '56 1 Thermoid Co. c‘ 10 Indnep PAL 8s A 20 Tnsull Utilit' 6s B '4 24 Intersta Power 8 57 Enjoy good old Mocha in Boscul Coffee Real Arabian Mocha mingles otherofthe world’s best coffees. incomparable blend. Devel- ren bengl 101 years recognized coffee B cadership. De- R ; licious ! 5-lb. B 55786 Eoess 19 5> 39- Macaroni °* Spaghetti Good food at an economical price. 0300020 SEEEEes 55555556 man nnanawn 5E| asa 12283233 25 S T 2 35 '80 bbor 6s ‘33 &L g5 <<ccaaaaadan: -u S 5 3 "’: o5t News Del 65 44 West_Penn 5s 2030.. Wes Tex Ut 55 A Westvac_Chl 5'as ‘37 2 Wiscon P&L 35 E '56 2 Wiscon P&L 5s P '58 2 SWis Pub S 5'2s B '58 88 FOREIGN BONDS. 3 Buen Air Prov 7s '52 36%4 1 4Nat PAL 18 Nat p&n g5 B 200 2N=uonl| Tea 85 1 Nebraska 12 New Eng G& Eng G&E 55 '50 6 Eng Pow 55 '48 v Eng Pw 5'2s ‘54 Orleans 413 35 Breakfast Suggestions 4SC0 Pancake Flour. .. 4500 Buckwheat Flour. A4SC0 Table Syrup .can Golden Crown Syrup.......can Acme Orange Marmalade. . . jar Headguarters for Butter and Eggs for more than Forty-one Years 33- . .2 phes. 2 pigs. Camdes, N.J. Dayon, O. WIIY D!NY YOURSELF THE BEST COFFZE? EVERY MOTHER CAN AFFORD TO GIVE HER FAMILY THE HEALTH BENEFITS OF THIS DELICIOUS BRAN CEREAL 5.4 x; Ba‘Cen PaL ‘412 % s N[lW FiWhen issued czrtan Washington Produce Goldd Soat Eggs For poaching, boiling and the sick room. The Finest Butter in America. h\cl\e Derrydale Butter = 27 | Selected Eggs < Better than many “Bests.” Every Egg Guaranteed. 4500 Sliced “No Waste” Bacon ........ gRadks 1, B Sliced Thin Yellow Laundry Soap. . .3 cakes 10c i White Flqating Soap. . . .3 cakes 10c R, £ Ol 1 0 c Plenty of suds—easier washing. Ivory Soap .......... med cake 5¢ Soap Chips .lii; Ib. 23c Camay Soap..... cake 5¢ the choice of millions and millionaires. Coffee o 27 1l - A B Dty st gt e e _0_0 o0 _o0_0_0o0_o °®e 0®e 0%0%0%0%0%0%0%¢%0%0%c%e%e®e”® Butter—One-pound prints, 93 score, 24; 92 score, 21; standard, 20; tub, 93 Score, 22; 93 score, 20; standard, 19. Eggs—Hennery whites, 25a26; current yeceipts, 20a22; sealed Government graded, extras, 39; standards, 33; medi- ums, 32. Pouliry, alive—Turkeys, hens, 15; toms, 13; crooked breasts, 10; Spring turkeys, 20a23; chickens, P]ymoum Rocks, 3 pounds and over, 16al8; 2 to 3 pounds, 14al5; under 21 wund.s. 14; hens, small, 13a14; hens, farge, 152 16 Leghorn hens, 10a12; mixed colored chickens, 12a13; roosters, 9; keats, per pair, young, 1.00; old, 50. Poultry, dressed—Turkeys, hens, 18; toms, 16 crooked breasts, 13; chickens, Plymouth Rocks, 3 pcunds and over, 20a22; 2!% to 3 pounds, 18a19; under 51, pounds, 18; hens, small, 16al7; . large, 18a21; Leghorn hens, 14a mixed colored chickens, 17a18; roosters, 12. Meats—Beef, 15; pork lcins, 17; fresh ham: hams, 15; slnp bacon, 14; compound, Live slockAHog.s light and medium, 4.4024.70; heavy, 4.00a4.50; pigs, 4.00a : 2/00a3.25; Calves, 3.00a 29° 12¢ 33—23c=10c Saved 13; smoked lard, .21c A Mild Blend of 8entos Pleasicg Drinking Qualities YVou Will Enjoy Heinz Quality Products cevevero...obot 23 | Vegetarian Beans. .. .can 10c, J4c vo...bot. 22c | Tomato Soup vev...can 10c ....vot. $5¢c | Cooked Spaghetti....can 10c, J4c “Fruits—Cantaloupes, jumbos, 1.25; standards, 1,00; apples, bushels, 50a 1.00; box stock, 2.00a2.25; peaches, 1.00a 2.00; pears, Bartletts, bushels, 1.25a1.50; fancy box stock, 2.50; seckels, 1.75a2.00; grapes, Tokays, 2.00° Thompscn seed- Jess, 2.00; muscatels, 1.25; bananas, 1.00 82.25; oranges, 3.0084.00; lemons, 7.50a rapefruit, 3.7524.25; plums, 1.50a Dneydev\s 1.75a2.2! honeyballs, a2.75; Persian melons, 2.25. \egombles—l’omo« 100-pound sacks, ©521.00; Idaho bakers, 2.25: sweets, bushels, 60375 string beans, 1.00a1.25; limas, 1.50a2. peas, 1.75a2.25; car- rots, per 100 bunchu. 3.00; beets, per 100 bunches, 3.00; squash, 50a65; Hub- bard squash, 1.50; spinach, 1.00a1.25; kale, 50; Spanish onions, 50-pound sacks, 1.50; tomatoes, 2-peck baskets, 60a75; peppers, 7; eggplant, 1.00; caulmouer 1.5022.00; broccoli, 3.50; corn, 50a1.25; Tooms, 1.75a2.00; salsify, per dozen es, 75a1.00. 0%0%e %o ® Chili Sauce. . Sour Onions. .... Sweet Gherkins. . ASCO Meats—High Qualityv—ILow Prices: Small, Young Shoulder b, . e Veal Roast .. 15¢ Frymg Cthkefls Breast of Veal . ». 1215¢ N T - — m;fimflams . .1 15¢ Special for This Week End Only! 1Lb. Briggs .. 4 Scrapple Bubsfir 1 Lb. Briggs Delicious Scrapple 290 BMIKS USE NEW NOTES TO PAY OFF THEIR LOANS By the Associated Press. NEW YORK, September 22.—Issu- ance of $53,000,000 of new national bank notes since July 22, when the circu- lation privilege was extended to United States bonds bearing coupon rates up to 3% per cent, has not increased the volume of money in circulation, accord- ing to the Federal Reserve Board. The issue “displaced an equal amount of other forms of currency, the board states. “Since st the same time the aggregate demand for currency declined by $45,000,000, the total decline in eir- culation of currency other then rational bank notes amounte to about $160,000,- ¢ 000 in the six-week period. About one- half of this decrease was in Federal Reserve notes.” The principal effect of the national bank note issues was to enable the issuing banks to pay off their borrowings from the Reserve banks or increase their Teserves at those institutions. B SR WHOLESALE PRICES OFF. By the Assoclated Press. ‘Wholesale commodity prices slumped off during the week ended September 17, as the change was calculated from a list selected by the Commerce De- partment. In the table that follows The index of all selling prices is given for comparable periods, based on 1926 Jevels as 100. In addition, the price|. of a ton of composite steel products is given for like periods: Oummodhles Steel 62 $29.32 $329.33 $31.03 Here’s good news for everybody who wants a supremely enticin, breakfast cereal—with the addefi health benefits of BRAN. Now you can get these benefits : . . enjoy the crisp deliciousness of Post’s Bran Flakes . . . at the lowest price in history. At this new low price, you can serve Post’s Bran Flakes to your family generously and often. Serve .Bran Flakes plain, with milk or cream—or with fruit or berries. Marvelous oven-fresh crispness— double-crisp because Crisp-Pack. Get Post’s Bran Flakes from your Pmcer today. Serve to all your family often . : . for health’s sake. .. for sheer breakfast enjoy- ment! A product of General Foods. ALSO BIG ECONOMY PACKAGE 'We have also made available to your grocer a big economy package. Thrifty buyers will welcome the important added savings its extra contents supply. POST'S BRAN FLAKES HEAT WITH - OTHER PARTS 1J14d IHL SIN0J NMOQ | Fresh Fish Frah = Croakers. . . ... » 12ic|Fresh Butterfish..... » 15¢ ‘,‘,’“““‘l:; Haddock. ...... » 15¢c|Norfolk Spots....... » 15¢ Quality Produce at Savings————— Large Ripe Tokay Grapes, 3 e 25¢|Bananas . . . ¢z 19¢ Broccoli 3 s 25¢|Cabbage 61 19¢ Stringless Fine Yellow Green Beans More for your money ‘. « . both in quality and value . Shopping the ASCO Way Fresh Green New York State 3 1. 19¢|Onions 61s.19¢ = W i e e _o_o_o e_o 7 0%0%0%0%0%0%0%0%0%0°%0%0%0°%0%0°%0%0%0%0%0%0%¢0%°0%¢%¢%e’0 %’