Evening Star Newspaper, September 28, 1932, Page 12

FINANCIAL. STOCKS GO HIGHER I QUIET MARKET FINANCIAE WEDNESDAY, SEPTEMBER 28 NET OF TELEPHONE COMPANY DECLINES THE EVENING TRANSACTIONS edition. Net. Low. Close. Chse. B 4+ STAR ON THE NEW YORK STOCK EXCHANGE given in this editios yesterday's paper. Net. Low. Close. Chat 30% 23% 41 WASHINGTON, D. C, 1 sales are n s edition are from Sales— Add 00. . NOTE—Today's individual sales are not g Sales of each stock in this edition are from yeste ~Prev. 1932~ Stock and Bales— High. Low. Dividend Rate. Add 00. High. 18'% 213 Southern Raflway... 19 13% NOTE—Todav's Sales. of each stock in ~Prev, 1932 Stock and High. Low. Dividend Rate. 36' 13% U S Indus Alcohol. NOTE—Today’s indlvidual sales are not given in of each stock in this edition are from yesterda: ~Prev. 1932 Stock and Sales— High. Low. Dividend Rate Add 00, High. Low. 7% 1 GenPublicService.. 3 § 5 NOTE—Today's individual sales are not given in Sales of each stock In this edition are from_ yesterda: —Prev, 1932 Stock an ales— sl 3% pividend Rate. - Add00. High. 3 & Abitibi Pwr & Puper. 63 % Hig Drop of $6,883 Reported for August, Compared to Year Ago. BY EDWARD C. STONE. Total net operating revenues of the Chesapeake & Potomac Telephone Co. for August amounted to $239,518, ‘against $246.401 in August, 1931, re- vealing a_falling- off of $6883, ac- cording to the monthly_statement filed with the Pub- lic Utilities Com- mission today. Telephone oper- ating expenses for the month totaled $495.661, against $478.043 in the like period a year ago. While expe were higher. oper- ating revenues were also larger, amount- ing to $735.179, in comparison with operating revenues in August, last year of $724.444. Taxes in Aug $50.536. against $57.601 & ¥ collectible bills made a Jarger total, leaving revenues from oper- ations alone totaling $167.982, against $184.270. Non-operating revenues ad- vanced $529 a year ago to $2.951, leav- ing a total gross income in August of $170.933. compared with $184,799 in the like month a year ago. After payment of rents. miscellaneous bills, and interest deductions, the tele- phone company reported a total net income for the month, before the pay ment of dividends, amounting to $139,- in comparison with $167,176 in Au- gust, 1931. C. & P. Earnings for Eight Months. The telephone company also reported earnings for the first eight months of the present year, net income before div- jdends totaling $1,165603, against £1.225737 in the first eight months of 1931, a decrease of $60,134. Telephone operating revenues for the eight months amounted to $6.276,403, against $6,082.034; operating expenses called for $399.654, compared with $4,084,050 last year, leaving net operat- ing revenues of $1.876.749, against $1,- 997,984 in the like 1931 period. es Tequired $464.694 in the eight hs compared with $448.659. uncol- 25 totalled $74.265. In comparison Siith $40.990 last year, and total deduc- tions from opersting revenues took $538.950 against $489.649 in the same Period in 1931 Non-operating revenues reached the sum of $39.438 against $4.951. leaving 8 gross income of $1.377.278, while the same item last vear totalled $1.513,286. After interest, rents and all other de- ductions, above balance before divi- reported Today's report shows that telephone totalled 17,016,000 000 in August, 1931, and for the eight months numbered 154097, 000, compared with 145.273.000 in the like period last year. There was a loss in the number of phones connected in August and in the eight months com- pared with the similar periods a yvear ago, so that the phones in use must have been considerable more active Business conditions during the pres- ent vear and the company’s large con- struction program are the chief causes of the slump in net earnings to date, in spite of larger operating reven Chesterman Greets Bankers. Bertram Chesterman, president of the Morris Bank of Washington, today grected the first delegates to the Morris Plan Bankers' Convention which opens tomorrow at the Shoreham ‘The convention opens tomorrow morn- | ing at 9:20, and 10 o'clock an address of | welcome will be made by Maj. P. A Hodgson. Assistant Engineer Commis- | sioner of the District. Thomas C. Boi hall, president Morris Plan Bank of Vir- ginia. will respond. J. Rodney Ball. as president of the association. will also make his address Other speakers include Ballantine, Undersecretary of the Treasury. who will di the “Public Credit; Tts Protection and Utilization.” At 12 ‘o'clock the delegates and guests will go the White House and be Te- ceived by President Hoover. ' Bertram Chesterman. called for r ago. Un- onsiderably . this year Arthur A.| has also be addressed by leaders in the Morris Plan system. Bank Merger Now in Effect. Consolidation of the Industrial Sav- ings Bank, Eleventh and U stteets, and the Prudential Bank, 1715 Florida ave- nue, found these two local banks’ busi- ness today under one roof, using Indus- trial's headquarters at Eleventh and U streets. All accounts of the Prudential Tave, of course, been transferred to this Jocation. W. H. C. Brown, president of the In- dustrial Savings Bank. will continue as president_of the combined institutions which will retain the name of us- trial Savings Bank. John R. Hawkins, Dresident of the Prudential Bank, and other officers will become members of the board The Industrial Savings established in 1913. Its officers are listed as Walter S. Carter. chairman of the board; W. H. C. Brown, presi- dent; John H. Simms, vice president and treasurer; William A. Bowie, c: jer; Walter L. Carter, assistant cashier. The Prudential Bank. another savings institution, was organized in 1923. Bank was Heard in Financial District. Directors of American Ice Co. and subsidiaries have voted a quarterly common stock dividend of 25 cents a share, placing_the common on a $1 an- nual basis Previous rate was $2 an- Greater economy among ice were given as the main ction by President 1ds again led Trading on the Washington Stock Exchange _today. Business was comparatively light and there was no important change in quo- tations. The largest transaction was in Washingtor Gas Light 6s, series B, $1.000 changing hands at 10214, Beca of the inability of many members to attend. the meeting of the Banking and_Industrial Committee of the Fifth Federal Reserve _district scheduled for today at Riggs National Bank was postponed until October 4. The number of Pennsylvania Rail- road stockholders reached a new high on September 1 at 252,142. This com- pared with 251961 on August 31 and 240.693 on September 1,,1931. The next meeting of the District Bankers' Association will take place on October 21. The date will be just after the return of Robert V. Fleming from the A. B. A. national convention re- garding which he will make a full re- port. cooler weather for the a = — Railroad Situation. NEW YORK, September 28 (Special) —Against the announcement that rep- resentatives of the railroads and of railroad labor have practically agreed not to press the wage reduction case until the end of the year—which may have a bearish effect, for rail stocks had gone up on the prospect of a cut— could be placed two constructive devel- opments. One was the formation of the committee to make a survey of the rail- way problems and the other the reversal of opinion by the Interstate Commerce Commission regarding the Nickel Plate loan. The latter was evidence of the somewhat unstable policy of the com- mission, whose original decision in the Nickel Plate case caused a heavy de- 914 24% 95 30% 14 1615 s 35 16% 35 8 15 884 119% 15% 217% 161% 12 3714 21% 411y 91 30 4315 95 sa, 18% 2474 29% 434 14% 1% 50Y% 8% 58 8915 36 104 3ia 48 13t 17 1 10 1% 12 9% 4 307 % ™ 5 LN 5% 4214 9615 4 Abitibi Pwr & Pa pt Abrm & Straus 1.20. Adams Express. ... Adams Millis (2). Addressograph. . Affliated Prod 1.60. Air Reduction (3)..« Airway Elec Appl. . Alaska Juneau (50¢). Alleghany Corp. Alleg Cp pf $30 ww.. Allegheny Steel. . Allied Chem & D (6). Allied Chem pf (7)... Allis-Chalmers Mfg Amerada Corp (2) Am Bank Note. Am Beet Sugar. Am Beet Sugar pf. 4 Am Brake Sh&F (60c) % Am Can (4)... Am Can Co pf (7).. Am Car & Foundry. . Am Car&Foundry pf Am Colortype. Am Comcl Alcohol Am & Foreign Pwr. Am & For Pwr 24 pf. Am Home Prod 4.20.. Am lce (D)., Am International Am Locomotiv - Am Mach&Fdy (80c) . Am Power & Light. AmP&Ltpf A (5). 4 Am Pwr & Lt pt (6). Am Radfator. Am Rolling Mills.... Am Smelt & Ref. Am Smeltg & Ref pf. Am Smelt & R 2d pf Am Steel Foundry... Am Sugar pf (T)....s Am Tel & Teleg (9). Am Tobacco (16).... AmTobacco B (16).. Am Tobacco pf (8). Am Type Fars pf. ... Am Water Wks (2).. Am Wat Wks cfs(2) Am Woolen. . Am Woolen pf. Am Zinc & Lead. Anaconda Coppe! & Anchor Cap (1.20 177 9" 85 28s, 1l 2 8 3 6 50 10 8 15% Armour of Il (A). Armour of Il (B).. Armourof 111 pf. Artloom Corp. Asso Dry Goods. Atch Topeka & S Atlantic Coast Line. . Atlantic Refining (1), Auburn Auto (£4).... Aviation Corp (Del). Baldwin Locomotive. Baldwin Loco pf..... Baltimore & Ohio. . .. timore & Ohio of. Banz & Aroos pf (T). Barker Bros pf . Barnsdall Corp Beatric Creamery . Beatrice Crm pf (7). Relding-Hemingway . Bendix Aviation..... Best & Co. - Rethlehem Steel. . Bethlehem Steel pf Borden Co (2).... Borg Warner. Briges Mfg Co. . Rklvn Manhat Tr: BKlyn-Man Tr pf (6). Rklyn&Queens pf(6). Rklyn Union Gas(3). Rrown Shoe (3). Bucyrus-Erie cv pf.. Budd (EG) Mfg..... 5 Budd Wheel. . 5 4 213 Burr'ghs A M (80c).. Butte & Superfor. ... Brers (A M)... . Byers (A M) pf (7).. alifornia Packing. . Callahan Zinc & Ld.. Campbell-Wyant Fy. Canada Drv (1.20)... Canadian Pacific Cannon Mills (1) Case (J 1) Co... Caterpillar Trac 50c. Celanese Corp. ... Cent Aguirre (1%).. Century Rib Mills. .. Cerro de Pasco . Checker Cab (new).. Ches & Ohio (213)... Chesaneake Corp (2) 2 Chi & Eastern I1l . 1% 214 5 14 2 5 1 113 11 5 7 i 8% 12 1% 5 3 23 22 808, a 2y 12% 16 4 12 2 2 11 6 K e 3 104 10 e 91 4 10" 15 20 814 10% 19% * 3 18% 28 76 % “© Chi Great Western Chi Great West pf... Chi Mil StP & Pac.. Chi Mil StP & Pac pf. Chi & Northwestern.. Chi & Northwest pf.. Chi Pneu Tool... Chi Rock I & Pacific. Chi Yellow Cab (2).. Childs Company. ... Chrysler Corp (1)... City Ice & Fuel (2).. Coca Cola (18). - Colcate-Pal-Pete(1). Collins & Alkman. Colonial Beacon. . Coio Fuel & Iron Columbia Gas (b1). Col Gas&E! pf A (6) . Columb Carbon (2).. Commereial Credit. . Comel Credit A (3).. Comecl Cred 1st(634). Comcl Inv Trust (2). Comel Inv cv pf(e6). Comcl Solv (60¢).... Comwlth & Southern. Comwlth&Sou pf (6) Consol Cigar. . Consol Cer prpf 6% .. Consol Film. ....... Consol Film pf...... Consol GasN Y (4).. Consol Gas NY pf(5) Consol Laundries(1). Consol Oil Corn Consol Ofl pf (8).... Cons RR of Cuba pf. Consol Textile. Contl Baking (A). Cont) Bakinz (B).. ConuiCan (2)....... Cont Diamond Fibre. Cont Insurance(1.20) Contl Motors Contl Oil (Déi)...... Corn Products (3)... Coty Ine. . g Crown W P 1st pf(4) Crown Zellerbach. Cuka R R pf (6). Curtis PuBlishing... Curtiss Wright. Del Lack & Western. Diamond Match (1). Dominion Storest114 Doug Afreraft (75¢). Dresser (SR)M{g(B) Drus Corp (4)...... Dupont de Nem (2).. Dupont deN db pf(6) Lt 1st pf ( ‘man Kodak (3) ton Mfg Co. lec Auto-L (1.2 - lec Auto Lite pf(7). lectric Boat. ...... lec&Musical Instru. Flec Pwr & Lt. ... c Storage Bat(2). Endicott-Johnson(3) Engineers Pub Serv. Equit Office Bldg 1% ErieRR......... e R R 1stpT nks C “eee Fashion Park As pf. Fidelity-Phoen 1.2 Filene's Sons pf 612 Firestone T&R pt(6) First Natl Strs (2%). Fisk Rubber.... Fisk Rubber 1st pf. Foster-Wheeler. Fourth Nat Inv 1.20. Fox Film (A). Freeport-""exas (2). Gabriel Co (A) Gen Am Tank Car(1). Gen Asphalt. Gen Baking (2). Gen Bronze Gen Cigar (4).... Gen Electric (40c) Gen Elec spec (60c) Gen Foods (2).... Gen Gas & Elec (A).. Gen G&E cv pf A(p6) Gen Ital Edis (2.06).. Gen Mills (3). Gen Mills pf (6) Gen Motors (1). Gen Outdoor Adv (A) w_gcm??n_m all railroad junior bopds. . 14 2'4 Gen Printing Ink. ... \ 960s 2 pa S 3 s @ ReaBlaeann 308 1 341 2 13 1 1 3 1 2 1% 9% 3 ] 0 4 108 2 iz 55 1 1 608 16 109 3 3 20 a9 16 52 o 150s 2 14 27 10s 2% 224 8 18 11% 9% 611 2 11% 24 22 Tia 17 113 913 21 2215 + + > dH 4+ 4 I ++4+ 28% 2% 21 24% 724 10% 8 20% 12% 20% 30% 4% 304 2 13% 28 1515 21'a 4% 28 10 34 83 1214 35 334 995, 113 25% 94 27 21 24's 23% 4 108, 37 47's 17% 1% 21 19% 67 8% 5! 18 6% Gen Rwy Stgnal (1).: % Gen Realty & Util. .., 8 Gen Steel Casting pf. 10% Gillette Saf Ras (1).. 45 Gillette Saf Rt (5). 31 Glidden Co... - 2% Gobel (Adolf). 8% Gold Dust (1.60)....1 2% Goodrich (B F) 5% Goodyear Tire& 7% Gotham Silk Hoslery. 1 Graham-Paige. . 1415 Grant (W T) (1) 55 Great Northern pf. .. 5 Great Northern Ore.. 1% Grigsby Grunow. 3 Gulf Mobile&Nor 215 Gulf States Steel s, Hahn Dept Stores. ... Tix Hahn Dept Stores pf. 3% Hawallan Pineapple. 1% Hayes Body... 4315 Hershey Choc (6). 7% Holland Furnace. . 110 Homestake Min(110) 1 Houdallle Hershey. 4214 Househd Fin pf 4.20 84 Houston Ofl. 1% Houston Oil (new). . 5 Howe Sound (40c) 8 Hudson & Man (3%). 274 Hudson Motor Car 3 Hupp Motor: 4% llinois Centr: Indian Motor Cycl Indian Refining. Industrial Rayon Ingersoll-Rand (2).. Inspiration Copper. .. Interboro Rap Trans, Int Bus Machine(n§) Int Carriers Ltd 20¢ Int Cement. . Int Combustion. Int Harvester (1. Int Hydro-Elec (A).. Int Nickel of Can.... Int Printing Ink. . Int Salt (1%) Int Silver..... Int Tele & Teleg. . Intertype Corp 15%s Jewel Tea (T433) 10 . Johns-Manville 45 Johns-Manv pf (7) 90z KC P&L 1st pf B(6) 5 XKan City Sou pf (2). 3. Kaufman DS (30c).. 4% Kayser (J) & Co. 13 Kelly Spring Tir 13 Kelly-Spring ctfs v-Spr T 8% pf... Kelly-Sp T 8% pf ct.. Kelsey-Hayes Wheel. Kelvinator Corp..... + Kennecott Copper. .. 3 Kinney (G R) Co pf.. 6% Kresge (SS) Co (1).. 10 Kroger Gracery (1).. 40 Laclade Gas pf (5).. 25 Lambert Co (15) Lee Fubber & Tire Leh Port Cmt pf (T Lehigh Valley R R Lehman Corp (2.40 Liggett & Myers(t5). Ligg & Myers B (13) . Liquid Carboni: - Loew's, Inc (14)..... Loft Inc. .. 5 Lorillard (P) (1.20).. Lou Gas&El A (1%). Louisville & Nash. .. Ludlim Steel. McCall Corpn (2). ... McKeespor#T P (4). McKesson & Robbins 7 Mack Trucks (1).. 104 Macy (H R) (n2) 10 Magma Copper( 3 3 Mallison & Co. 8 Mandell Brothers 10s Manhat Elevmod gtd 1 5% Marlin-Rockwell(1). 2 10% Marmon Motor Car. 340 5% Marshall Field & Co.. 14 11% Mathieson Alk(1%3). May Dept Stores (1). Maytag pf ww. Miami Copper. ...... Mid Continent Petm. Miidlana Steel Prod. . Minn-H'well Reg (2) Minn Moline Pow.... Mo Kan & Texas. Mo Kan & Texas pf.. 3 Missourl Pacific..... Missouri Pacific pf. .. Monsanto Chem 1%. Montgomery Ward Morris & Essex (3 Mother Lode........ Motor Products (2).. Murray Corp........® Nash Motors (1) ash Chat & St L. Nat Acme Co 4 Nat Biscuit (2.80)... Nat Cash Reg (A)... Nat Dairy Prod (2).. at Dept Store: at Distillers. ...... at Lead pf A (T)... 708 1081y Nat Pwr & Lt (1). 11 174 15 Nat Ry Mex 2d pf. 1 % 1313 Nat Steel (50¢). 31 30 4'28Nat Surety.... 2 134 31 Nat Tea (60c). ... 2 o 1'; Newport Industries. 1% Newton Steel 8% N Y Central 13 N Y Chicago .o N Y N H & Hartford. N Y Ont & Western.. Y Railways pf oranda Min (a50c) . Norfolk & West (8). North Am Aviation Nor Amer(b10 % stk North Amer pf (3) orthern Pacific Ohio Oil (a40c)..... 213 Oliv Farm Eq pr pt. . 113 Omnibus Corp. .. 9 Otis Elevator (1). 1'% Otis Steel. » Otis Steel pr pt 2 _Owens Ill Glass (2). 167 Pacific Gas & El (2). 20% Pacific Lighting (3). 58 Pacific Tel&Teleg(7) 115 Packard Motor Car.. 1's Paramount Publix. 14 Pathe Exchange (A). 31 Patino Mines. . 16 Penick & Ford (1). 13 Tenney (J.C.) 188 613 Penna Railroad. ... 215 Pere Marquette pf... 313 Pere Marquette pr pf. 3 Petrol Corp of Am... 3% Phelps Dodge. 2 Phila& Read C&T Phillips-Jones Co. Phillips Petroleum. . Phoenix Hoslery. ... Pittston Ce Poore & Co (B) Port Ric Am Tob(B). Proctor & Gamble(2) Proct & Gamb pf (5). Public Sve N J(3.20) Public Sve N. Public Sve NJ pf (6). Pullman Corp (3). Pure Oil oed 28% 49 10 31 3t 31 Radio Corp..... Radio Corp pf B. 4 Radio-Keith-Orph Remington-Rand. Reo Motor Car. % Republic Steel. . epublic Steel pf . eynolds Metals(1). Reynolds Spring. ... Reynolds Tob A (3 26'3 Reynolds Tob B (3).. 113 Rossia Ins of Amer. . 12% Royal Dtch(a80%ae). 30'a Safeway Stores (5). 4% St Joseph Lead. .. St L-San Francisco. . St L-San Fran pf.... Schulte Retall Stores Schulte Ret Stor pf.. Seaboard Alr Line. .. % Seaboard Oil Del 40c. Sears Roebuck. Second Natl Inv. Servel Ine. ... Sharp & Doh: Shattuck (FH) 50c. Shell Union Ofl. 18 Shell Union Oil pf 2% SImmonsCo........ 6 Sloss-Sheff Steel pf. 5% Socony-Vac (30c). 35 SolvAmpf ww(5%4). 1 413 So Porto Ric S(a40c) 16 17 86% So Port Ric S pf(8).. 140s 108 16% Southern Cal Ed(2) 6 27% 6% Southern Pacific..... 186 30 18 343 2208 76 17% 1% 21 18% 66% 8 515 18 8 22 22 3 20 8% 1% 10% 6% 54 124 20% 9% 61% 16 108 26% 2% 10% 7 544 13 20% 10% 61% 17 108 27% .29% s Fht+ I+ (e E§ EFase rd FEEEXES “ser b T st | of northwestern grass cattle, +1% 1 95 32 Spalding(AG) 1stpf. 80s & 1 Sparks-Withington.. 11 8" Spencer Kellog(60c). : 17% 8% Btand Brands (1.20).. 12113 110 Stand Brands pt (7). 341 7% Stand Gas & Elec (2). 414 9% Stand Gas&El pf (4). 62'3 21 Stand Gas&El pf (6). 31% 15% Stand Ofl Calif (2)... 98 81 Stand Oil Exp pf (5). 37% 19% Stand OIl N J (12)... 2% % Sterling Secur (A)..i 26 134 Sterling Secur cv pf. 813 17 Stewart Warner..... 17% 4% Stone & Webster..... 13% 213 Studebaker Corp..... 141 7 Superheater Corp (1) 2 1% Superior Oll 815 24 Superior Ste 13% 6 Telautograph (1) 18% 9% Texas Corp (1) 26% 12 Tex Gulf Sulph (2).. 4 1% Tex Pacific Coal&Oil. 815 F2i4 Tex Pacific Land Tr. 163 10 Third Natl Inv (1) 5% 2 Tide Water Asso Ofl. 60 20 Tide Water As pf () 6% 2 Timken-Detroit Axle. 23 Th Timken Roller Bg(1) 7's 2% Transamerica Corp.. 513 113 Tri-Contl Corp. ..... 19% Trico Products(23). 1% Twin City RapTran.. b3 Ulen & Ci . Union Bag & Paper. . Un Carbide & C(1.20) Un Oil of Calif (1)... Union Pacific (6).... Unit Afreraft.. Unit Afreraft pf (3). Unit Carbon. Unit Cigar Stores Unit Cigar Store pf.. 17nit Corp (40c) Unit Corp pf (3 Unit Electric Coal Unit Frult (2). Unit Gas&Im(1.20).. Unit Gas&Im pf (5). 56 16% 120 23 % 3 %| 16 9% 184 10% 208 225 62% 13 31 10% 238 T% U S Pipe 21% U S St 1% Util Pwr 2% W1l% 3.V 4 A% Walwort! % Ward Bal est Pa t Pa Western Western Western Western Western Westing R Wrigley 10:30 AM. . 1:30 P.M. 1% USLeather......... 3% U 8 Leather (A) - Westinghou: Westvaco Chlorin White Motor. Wilcox Oil & Gas. ... Willys-Overland. . ... Willys-Overland pf.. Wilson & Co (A). Woolworth (2.40) Worthington Pump. . Wrignt Aeronautical Yellow Truck 4 Youngstown Sh&Tu. Sales of Stocks on New York Exchange. - 1,000,000 23 33% B s 124 & Fary (2).. 1% U S Rubber.... 3% U S Rubber 1st pf. 10 USSmtg & Ref (1. 6115 U S Steel pf (7)... 12 Univ Leaf Tob (2). &Lt (A). 5% Vanadium Corp. 42% 16% Van Raalte 1st pf 13 Va-Car Chemical. -Car C| 74 Vulcan Detinning. . 75 Wabash R R. hem 6% pf. ceut h Co. king (B) 2 Warn Bros Pictur: ElLpt (7) Pwr pf (7). Dairy (B) Maryland. Pacific. . Pacific pf... Union...... Air B(1). Mlec. (Wm) (3) = 5% 6 2014 19% 20% 200,000 12:00 Noon... 600,000 1,100,000 Dividend rates as given in the above tables are the gnnual cash payments based on the latest Guarterly or half-yearly decia- ( rations. s Unit of trading 4% in stock. a Paid stock. e Payable in ca; in stock. ) Plus 31 in m Paid last year—no regula. rate. in scrip. ¥ Ex-dividerd. less than 100 shares. tPartly extra. fPlus this year—no regular rate. b Payable in sh or stock. fPius 8% in stock. h Plus 2% special preferred stock. k Plus 3% in stock. in stock.” p Payable PRODUCE MARKETS SLIGHTLY FIRMER Eggs, Wheat, Cotton and Other Commodities Show Price Gains. Farm products averaged slightly higher in late September. says the United States Department of Agricul- ture, Bureau of Agricultural Economics, Market News Service. Rapid and per- sistent gains in the egg market, based on reduction of receipts and storage holdings, increased the cash income of many producers. The wheht and cot- ton ~markets again tended upward. Prices of choice cattle, hogs. sheep and lambs were fairly well maintained. but cattle market conditions were irregular Butter markets were unsettled without much actual change. Supplies of orchard fruits and staple vegetables usually reach greatest volume at about this time. Prices are holding with dif- ficulty, but declines are slight. Weak Potato Markets. Potato markets were weak and most- ly lewer in late September. Sacked Cobblers still brought 35 cents per 100 pounds in northern Maine, with Green Mountains only slightly above that level. Rail shipments from New Jersey declined to 70 cents per 100 pounds sacked. Jersey type sweet potatoes de- clined at Eastern Shore points to a range of 80 to 90 cents per barrel. Domestic type cabbage was selling at a narrower price range in western New York, bulk stock bringing $5.50 to $6 per ton. Bulk Danish type sold at $8 to $9 per ton. Lettuce declined in city markets. Eastern celery advanced slightly in consuming centers. At points in western New York 50-pound sacks of yellow onions strengthened slightly to 33 to 35 cents. F. o. b. markets for apples in the Potomac Valley area were firm at 85 cents per bushel for best 21.-inch Grimes, and $1 to $1.10 for Jonathans or Delicious Bushel baskets of Wealthys brought 70 to 75 cents at western New York points and_Rhode Islana Greenings 65 cents. Bartlett pears were still bringing 80 to 90 cents per bushel at New York shipping points. Butter Markets Unsettled. The butter markets were nervous and unsettled during the second half of September, but there were some small net gains. Some students of the produc- tion situation are of the opinion that fresh output during the Fall and early Winter will exceed that of a year ago and that increases over the previous week will be noted during the next several weeks. The increased number of cows due to freshen in the Fall months will tend to increase production from early in October until early in March. On the other hand, farmers appear to be skimpfug in quantity and quality of the feed used. | The cheese market continued about | steady and prices held generally un- changed in city markets. Trading in fresh cheese improved slightly the sec- ond half of the month. but the total volume of sales was still small. Some buyers were more wiiling to anticipate future needs, while others bought only for immediate requirements in anticipa- tion of more favorable prices later in the season. Egg Market Gains. Prices of eggs continue to advance. al- though not quite so rapidly as earlier in the month. Light receipts and a fairly good consuming demand are given as the causes. Increasing supplies of roasting chickens are causing weakness in the market for weights of three and one- half pounds and over, and prices have made declines of one to three cents since the middle of the month. Supplies of fowl, on the other hand, are light, and hardly equal to the trade at pre- vailing prices. Choice Cattle Hold Price. Trading was uneven in the Chicago cattle market. All lower grades, includ- ing weighty bullocks, as well as light and long yearlings, were mostly 50 cents Jower at Chicago in late September, with numerous sales of good short-fed steers scaling 1,100 pounds and up, showing declines of 75 cents to $1. All grass ‘steers sold to killers lost 25 to 50 cents, and all she stock was unevenly lower. Increased receipts, particularly and A de- clining beef market were considered chief causes for the lower prices of live + 1, ! cattle. The most important feature of the | 414 | hog trade the past few weeks has been £e 7 + + % b 5 kL the continuance of the run of packing sows, which normally tapers off after September 1. The average cost of hogs at Chicago the second half of the month ‘was near $4 per 100 pounds, compared with above $5 a year ago. Eastern dressed lamb markets fell to the towest point of the season, which did much to offset the effect of ihe de- crease in live receipts at Chicago. Range lambs showed some deteriora- tion in quality. Kinds with better fin- ish sold up to $5.75. Most good and choice range lambs sold at $5.50 to $5.75, with a few up to $5.85, and de- sirable native from $5.25 to $5.75. The extreme top was $6.25, which was paid only sparingly. Buyers and sellers adopted a Wait- ing attitude on the Boston wool market lln late September. Few large lots were sold, but the undertone of the market was firm and no important changes in prices were noticeable. +1% Price changes in soft and hard Win- \ \ | | ter wheat feeds were irregular in late | September, with brown and gray shorts displaying relatively greater strength than bran. Cottonseed meal prices |dropped sharply. The decline during the last part of September has can- celed roughly one-half of the advance | made during July and August. Despite | the price decline, demand from Eastern sources held up fairly well in Atlanta, ‘wuh orders being filled principally out of Memphis and the valley. Linseed meal, soybean meal and tankage were unchanged to lower. | The timothy hay market position re- | mained practically unchanged in late September. The light offerings were | fully equal to current trade require- ments. A fair demand was reported at New York and Pittsburgh for the mod- erate offerings. and the market was con- sidered firm. Receipts at Chicago were smallest in the history of that market. Grain Markets Irregular. Domestic wheat markets strengthened during the third week of September, in- fluenced by lighter offerings of cash grain and fairly steady foreign markets. Feed grains continued in slow demand and corn prices made further declines. Oats and barley markets were steady on lighter receipts. Rye remained feature- less, with prices practically unchanged. Flax was slightly lower, but the light offerings were readily taken by crushers. POWER OUTPUT GAIN REPORTED FOR WEEK By the Associated Pres NEW YORK. September 28 —A gain of 14419.000 kilowatt hours in power production was reported today for the week ended September 24 over the pre- vious week by the National Electric Light Association. For the week ended September 24 production totaled 1,490,- 363.000 kilowatt hours. The latest figure was 10.2 per cent below the corresponding 1931 figure | The week before a difference of 112 per_cent was recorded. The total for the week ended Sep- tember 24 represented an increase of 64,000,000 kilowatt hours over the first week of August. For the correspond- ing period last vear the gain was 12000,000: in 1930, 21,000,000, and in 1929, 48,000,000. Washington Pr;duce Butter—One-pound prints, 93 score, 23; 92 score, 21; standard. 20: tub, 93 score, 22; 92 score, 20; standard, 19. Egg-—Hennery whites, 27a28; current | receipts, 22a23; sealed Government ! grade, extras, 41; standards, 35; medi- ums, 32. Poultry, alive—Turkeys, hens, 15; toms, 13; crooked breasts, 10; Spring turkeys, 20a23: chickens, Plymouth Rocks, 3 pounds and over, 15al7; 2': to 3 pounds, 14a15; under 2> pounds, | 14; hens, small, 13al4; hens, large, 15a | 16; Leghorn hens, 10al12; mixed colored | chickens, 13; roosters, 9; keats, young. |1 to 13; pounds, per pair, 60: young, 2 pounds and over, 70a80; cld. 50. Poultry, dressed—Turkeys. hens, 18; toms, 16; crocked breasts, 12; chickens, Plymouth Rocks, 3 pcunds and over, 20a22; 2'; to 3 pounds, 18al9; under | 2!2 pounds, 18; hens, small, 16al7; hens, large, 18a21; Leghorn hens, l4a ‘15; mixed colored chickens, 17al8; roosters, 12. Meats—Beef, 15; lamb, 13; veal, 11: pork loins 15: fresh bams. 13; smoked hams, 14; strip bacon, 14; lard, 7!2; compound, 7. Live stock—Hogs, light and medium, 4.40a4.55; heavy, 4.00a4.40; pigs, 4.00a 450; roughs, 2.00a3.25; calves, 3.00a | 6.00; lambs, 3.00a5.50. 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, 1.75a2.0¢ | grapes, Tokays. 2.00° Thompscn seed- | less, 2.00; muscatels, 1.25; bananas, 1.00 | a2.25; oranges, 3.00a4.00; lemons, 7.50a | 8.00; grapefruit, 3.75a4.25: plums, 1.50a 1.75; honeydews, 1.75a2.25; honeyballs, 2.25a2.75; Persian melons, 2.25. ‘Vegetables—Potatoes, 100-pound sacks, | 95a1.00; Idaho bakers, 2.25; sweets, | bushels, 60a75; string beans, 1.00al.2: | limas, 1.50a2.00: peas, 1.75a2.25. ci | rots, per 100 bunches, 3.00, beets. per 100 bunches, 3.00: squash, 50a65; Hub- bard squash, 1.50; spinach, 1.00al.25; kale, 50; Spanish cnions, 50-pound sacks, 1.50; tcmatoes, 2-peck baskets, 60a75; | peppers. 7; eggplant, 1.00: cauliflo 1.5022.00; broccoli, 3.50: corn, 50al.2: mushrooms, 1.75a2.00; salsify, per dozen bunches, 75a1.00. NEW YORK BANK STOCKS NEW YORK, September 28 (#)— | Over-the-counter market: | Quotations as of 2 o'clock. | Banks. 1 Bid. Asked. | 43 45 Chase National (2) Commercial (8 . Fiith Avenue (*44) s 1 First National (100) B | Manhattan (2) . 20 | National City (2) Public (2) ....... | Trust Con 1 l Bankers' (3) ............ Brooklyn Trust (10) - 1 Central Hanover (*7) Chemical (1. Continents ¢ Corn Exchange (4) Empire (1.60) Guaranty (20) Irving (1.60) Manufacturers (2) N ¥ Trust (3) | try, CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, September 28.—Follow- ing is today’s summary of corporation | news prepared by Standard Statistics | Co.. Inc, New York, for the Associated Press: Automobiles and Trucks. Ford Motor Co.. production reduced to between 1,500 and 2,000 units a da: three days a week. General Motors Corporation reported Chevrolet Motor has stepped up its | production to build 10,000 more of its present model than had been contem- plated as result of a sales campaign. Automobile Parts and Tires. Triplex Safety Glass Co., Ltd. re- newed for this year all its most im- portant automobile contracts with motor car manufacturers; footage sales in year ended June 30 was 100,000 feet larger | than in preceeding year. Electrical Equipment and Ra Westinghouse Electric & Manufactur- ing Co., to spend $1.260.000 in next few months on raw materials, supplies and development work. Household Products. American Ice Co., declared a quarter- ly dividend of 25 cents on common stock: in September 1931 rate was r duced to 50 cents quarterly from 75 | cents: earnings of company in past four | months were unfavorable and as result | mcome for this year thus far has been off about 25 per cent. Leather and Shoes. Internaticnzl Shoe Co.—Incoming orders since mildle of August show an increase of 35 por cent, compared with | like 1931 period. 0il. Socony-Vacuum Corporation, Stand- ard Oil Co. of New York—Cut its price of gasoline 1 cent a gallon in New York metropolitan district, and several other districts. Paper and Paper Products. Sutherland Paper Co.—Deficit, six months ended June 30, $50.153, vs. net income, $101,657 Railroad and Railroad Equipment. Atlantic Coast Line Railroad—August net operating deficit was $497,703, vs. deficit. $594,398: eight months’ deficit was $266.456. vs. income of $5.075.577 Chicago & Eastern Illinois—August net operating ceficit, $105.324. vs. deficit, 50,276; eight months' deficit was $1,- 209.510. vs. deficit of $1.095.369. Chicago. Milwaukee, St. Paul & Pa- cific—President states indications are that the company will break even on 1932 operations after taxes and rents; company is not contemplating any fur- ther loans from R. F. C. this year. Chicago & North Western Railway— Reported has asked for a loan of $1 000000 from R. F. C. to be used for| purchase of railroad ties. i Delaware & Hudson Co. August nets operating deficit of Delaware & Hud- son_Railroad Corporation was $77.95 vs. income of $495,388; 8 months’ deficit was $293,353. vs. income of $2,357.365 Denver & Rio Grande Western deficit 8 months ended August 31, $3,172464, vs. deficit $858.221. Illinois Central Railroad president states loss for 1932 will be less .than 56,939,798, estimated at time company applied for a loan from R. F. C. he also said that no further loan applica- tions would be made to R. F. C. this year. Maine Central Railroad deficit 8 months ended Ausust 31, $365.487, vs. net income, $81,324. STEEL PRODUCTION SHOWING INCREASE By the Associated P ! NEW YORK, September 28.—Steel | ingot production has risen this week (o | an average of 17'. per cent for the entire country, largely because of a gain at Chicago, improvement at Pittsburgh andein the valléys, lron Age said today. The Birmingham district at 33 per cent was the best operation in the coun- but is closely followed by the: Wheeling district, which is \at 30 per cent for the second week, it was stated. “With the higher rate this week. continued the review, “September ou put will closely approximate that of June, when daily production of ingots was 34,511 gross tons, compared with the low record of 30.830 tons in August. | Further improvem-nt is rather defi-| nitely indicated for October. though it | probably will come about gradually and in small measure. September orders for imany stec! companies have been 8 to 10 per cent hcavier in the aggregate ! than those of August. “Major industries are expected to be- come more of a factor in the steel mar- ket within the next 30 to 60 days. Rail- rcads are opening up repair shops and, though their purchases thus far ai small, ttey will need material soon.” U. S. TREASURY BALANCE. By the Associated Press. Treasury receipts for September 26 were $4,887,506.89; expenditures, $9,817.- 771.92; net balance, $872,459,328.65. Custoths receipts for the 26 days of the month were $21,192,632.65. PARIS BOURSE PRICES. PARIS, September 28 (#).—Three per | again |23 cent rentes, 83 francs 70 centimes. Five per cent loan, 100 francs 95 centimes. Exchange on London, 88 francs 5 centimes. The dollar was quoted at 25 francs 5212 centimes. Buyers Apparently in Major- ity, but Price Changes Are Small. BY GEORGE T. HUGHES, Special Dispatch Lo The Star. NEW YORK, September Stocks closed moderately higher 28— to- { day, after a session of slowly gather- ing strength. The so-calied farm shares were prominent on the advance, testifying to an optimism in Wall Street which the commodity markets shared only in a small degree Wheat was fractionally higher while cotton was down unimportantly. Sugar " futures were strong perhaps because of the West Indian storm and silver ac- vanced 15 to 35 points, but the price of lead was reduced Activity in the stock market was on | a small scale and a good deal of that was in pool specialties. The high prices were made in the last hour The opening was irregular and for an hour or so the market was heavv, but {then it hardened and those stocl strong sponsorship moved up a p so. How much of a public participa tion they achieved it is difficult to sa Thete 15 said to be considnvable odd- lot buying for cash. and when outsiders do take & hand it is always along con- structive lines. but taking g into account the trend was in doubt The news was mixed. Eiectric power output for the week ending September 24 was down 10.2 per cent from the same weck a vear ago. Last week the corresponding decline was 11.2 per cent, so that the comparison was good as far as .t went. Detroit reported sales of new passenger motor cars in £ off 10.3 per cent from that month in 193! The best showing was made car loadings. The decline for the New York Central on the week was 16.9 per cent, whereas a week ago the drop was 214 per cent. Summing it up, business is still running below that of a vear ago but the rate of decline has been re- tarded. Most of the activity was in the Jow- priced issues. Strong buying was in evidence in Montgomery Ward, carry- ing the stock to a_new high for the vear. Sponsors for United Aireraft and Chrysler supported their favorites. Al- though there is doubt about the divi- dend on General Motors common, which, however, will not be acted upon until November 2, that stock was in good demand. A little selling Porto Rico Sugar as a re storm. It was said that its Porto Rico properties were undamaged, but that no news has been received from the Santo Domingo estates. United Drug steadied after yesterday's sharp decline Oil shares. faced with the probability of a cut in the price of crude, were heavy but not weak. Standard of New York cut the price of gaso metropolitan district d: Commodity Index Lower. NEW YORK. September 28 (Special). ndex this week was lower in the week pre- ceding. It is less than 1 point, how- ever, from the high level of two weeks ago and approximates that of Septem- ber 1. or came into South of the CHICAGO DAIRY MARKET. 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