Evening Star Newspaper, October 1, 1932, Page 15

FINANCIAL. *% A—15 CROP LOSSES HUGE IN ISLAND STORM Puerto Rican Hurricane Damages Coffee, Citrus and F1 BONDS IRREGULAR | AT SHORT SESSION| Junior and Speculative Issues Are Featured in Quiet ANCIAL. THE EVENING STAR, WASHINGTON, D. C., SATURDAY, OCTOBER 1, 1932 BONDS on .. stock excruace | |TREASURY BALANCE CURB SHARESFRM | ™N. Y. CURB MARKET ezt oot m 5p| AT LARGE FIEURE, AFTER DULL START Proposed New Bond Issue Is|Price Movement Confined to Expecteg to Be for Narrow Limits in Week- Stock and Sale— Dividend Rate. Add 00. High. Low. Close. Aluminum of Amer 300s 68% 67% 68% AlamnLtdcumpt. 1 36 36 Am Beverage. Am Capital A. Am Capital pr pf. AmCitiesP&LB Am Corp... Stock and Sale— Dividend Rate. - Add 00. High. Low. Close. LefcourtRity 80c.. 1 1% 1% 1% Tefcourt Realtypf. 6§ 5% 5% 5% Lone Star G béde.. 1 8 8 8 Met Edison pf (6).. 25s Midl West Utilities 1 Mo Kans Pipe L. Mountain Prod $0c. Bales. High. McKes & R5%w'50. 16 381 Market St7s A 40. 21 80% Midvale Stl 5 3 Milan 81852 M$l E Ry&L 5 Mil E Ry&L 58°7 MSP&SSM cn 4s 38 MK&T Ist 4s * Low. Close. UNITED STATES. l — (Sales are in $1.000.) gh. Low. clmle. Lib3%s32-47.... 40112 1011210112 Lib 13 4%532-47 10224 10223 10223 i Lib 4th 41 s 33-38 lgg 20 & b 103 18 103 20 31 9627 9631 986 988 98 8 100 28 100 28 100 28 Trading. BY F. H. RICHARDSON. Bpecial Dispatch to The Star. NEW YORK, October 1.—Bonds were {rregular in quiet trading today. Junior and speculative issues developed a high- Iy selective market, with price fluctua- tions from 2 points lower to 1!2 points higher. High-grade bonds, including United States Governments, were firm. Foreign dollar issues continued their advance, led by Germans. Virtually the whole interest in the Junior market revolved around October 1 maturities and the situations arising therefrom. Deposits in asset of the plan to pay 25 per cent of the maturing $20,000,000 of Nickel Plate 6s and to extend the rest three years were com- ing in today at the rate of $1,000,000 an hour, but it was still evident that deposits would be well under the “sub- stantially all” condition imposed by the Interstate Commerce Commission. Since, however, it takes assent of 25 per cent of the note holders to force a receiver- ship, it is considered probable that the situation will be cleared up early next ‘week, with sufficient deposits to insure the granting of the necessary loan from the Reconstruction Finance Corporation Abitibl P&P 6853, 18 Alleghany Gp 5'44. Alleghany 58 '49. AmF P 53 2030. Am Sm&Ref 5847, Am Sug Ref 6537 Am T&Tctr Am T&T deb 5t Am T&T deb 5s ‘65 Am T&T 5%s'43. . Am Wat Wks 55'34. Argentine 5s°45. .. Argentine 5348 °62. Argentine 65’59 Ju Argentine 6s 59 Oc Argentine 6s B '58. Arm & Co 4%8"39. Assoc Oil 6s Atchis 45 1905 Atchison gn 4s'95.. AtICL 1st 4s'52.. AtICLcl 4s'S: Atl Gulf&WI 58’59, Atl Ref db 5537 Australia 414s°56 Australia 58 °55.... Australia 58 '57... Austrian 7s ‘43, to make the cash payment. Deposits up | Austrian 7s'57.... to the close of business today aggre- gated around $13,000,000 out of $20, 000,000, or 65 per cent There were declines of a foint or more in Nickel Plate bonds generally and these had a depressing effect on the rest of the railway list. Chicago & Northwestern 43,5, St. Paul 5s, Illi- nois Central 43;s and Erie Refunding 88 were weak. Another situation that attracted at- tention concerned $20,000,000 of Ontario Power Service 5izs, which are in de- fault as to interest. October 1 was the expiration date set for an offer by the Hydroelectric Power Commission of Ontario to exchange the Power Serv- ice 51;s for its own 20-year debentures, providing 90 per cent of Ontario Power Service bondholders assented. Deposits today aggregated around 75 per cent. REVIEWS OF TRADE MORE OPTIMISTIC Week End Surveys of Nation's Business Show Gradual Up- trend Is Continuing. By the Associated Press. NEW YORK. October 1.—Business and trade throughout the country, the trade reviews reported, more than held their own during September, and hopes for further gradual improvement are held out for the balance of the year “The general movement now has ex- tended to both the industrial and dis- tributive divisions, although the gain in the former is less conspicuous than in the latter,” said Dun'’s. “There is now more of a disposition to look forward to a steady enlarge- ment in the consumption of manufac- tured and raw materials, although full sognizance is taken of the possibility that upswings may not be so sharp as those occurring since the middle of July. Indications of betterment are beginning to find their way into the statistical indices of electric power con- sumption, carloadings and the number of telephones in use.” Bradstreet’s found seasonal factors still showing a stimulating influence and pointed to current statistics as supporting this showing. “These seasonal developments are undoubtedly encouraging,” this analysis said. ‘“‘Although many lines of business are still below last year, the upward trend is something to cause hope, espe- clally when it is remembered that the trend was downward in- both the last two years at this time. “We are still thoroughly immersed in the depression; no one will dispute that. And with such problems as high tariffs, war debts, excess producing ca- Ppacity remaining unsolved, we are not going to rush to recovery. Nevertheless, there are many indications that we are slowly making progress toward sound betterment.” BANK CLEARINGS FAIL TO MAINTAIN UPTREND By the Associated Press. NEW YORK, October 1.—The better trend shown recently in bank clearing figures was not maintained this week. Clearings for the latest week are $1, 372,716,000 off from last week's total. ‘The aggregate for leading cities in the United States was $3,919,244,000, or 43.9 per cent below last year's total of $6,984,439,000. At New York City clearings amounted to $2,625,854,000, & decrease of 46 per cent from last year's figure, while for the cities outside of New York the total was $1,293,390,000, 39 per cent smaller. Boston, Pittsburgh, Buffalo, Chicago, Detroit and Cleveland show the largest percentage of decline of any cities reporting. The figures for last year included one day of the heavy settlements incident to the first of the month, which ac- counts in part for the wide difference between this week and the same period a year ago. Figures for leading cities, as compiled by R. G. Dun & Co., showing decreases as compared with same period a year ago, follow: (Totals in_thousands.) Week Sept. 28, 1932. Pet. $187.650 Dec. 52.0 245.000 365 47,920 343 | 495 L 455 Boston . Philadelphi; Baitimore Pittsburgh Buflalo Chicago Detroit . Qleveland Cincinnati St. Louls S ‘Atlanta Lousville " New_ Orleans Dallas_ . San_Fran Portland Beattle P R A 4| 58| BABNRSRETBRNGEE Onnnm ©l 00| monwINOONND N Total all Beptember A to “date. August ... July . G825 Becond te: Pirst quarter ... ——e i Agricultural Shares. NEW YORK, October 1 (Special).— Market observérs do not know whether to condemp or to admire the optimism of those tedders active on the buying side of the agricultural shares. All the reports from the farming regions of the West, are imistic in the ex- treme ahout the farmers’ buying power, but speculative Wall Street is ready to bid up the mail order or agricultural implement stocks enthusiastically on every bulge in the wheat market. Those in closer touch with the farming situa- tion are skeptical of any immediate im- provement, regardless of any raily in commodities. — BALTIMORE STOCKS. BALTIMORE, October 1.— il STOCKS. B Arundel Corpgrasion C. & P. Tel. §0on G } i BUTRER BONDS. o Balied B £ B b id e B&O1st4s’4S.... B&Od4%s’il B&O 4% "6 B&O1st5s'48.... B&OTef58'95. .. B &O rf 58 D 2000 B&OSwdv 58'50.. Batav Pet 4%8 42 Belgium 6855 Belgium Belgium 78 . Bell Tel Pa 5s B'48. Berlin Cy El 68 °55.. Berlin C E1 6% 8’51, Berlin C E1 64559, Ber mun ex 6% s 50 Beth Stl pm 6s'36.. Bordeaux 6s'34.... Bos& Me 4% 8617, Brazil 648 °26-'67. Brazil 6148 °27-'57. Brazil 8s 41 Bremen 7s '35. Bkiyn Elev 6%s. .. Bklyn U Gas 58 '57. Buenos A R 68 '61.. Calif Packing 58’40 Canada 4s '60. Canada 4%s'36. Canada 53 '52. Can Nat Ry 4%8'56 Can Nat 55 '69 July Can Nat 55’69 Oct. Can Nat §8 " Can Nor 413835 Can Nor db 6148'46 Can Pacdb4s..... Can Pac 55 '44 ctfs. Cent Pac 1st 4849, Cent Pac 53°60.... Cen Ry NJ gn 7 Cert-td db 534548 Ches Corp 53 "4T... C&O gen 4%s'92.. C&04%sB 5.0 CB&Q4% CB&QrL5s'TL CB&Q 11dv 3% 849 Chi Grt West 48'59. Chi Ind&L gn 68'66 C M StP&P 58°75.. CM&StPadjss.. Chi&NW 4143 2037, Chi&NW 414sC 37, Chi & NW 4%5"49. Chi RI&P rf 4534, ChiR14%8"60.... CTHA&SE 1st 55°60. Chi Un Sta 412863 Chi Un St5s'44..., Chi Un Sta 6%8'63. C & W Ind cn 48’52, Childs deb 58 '43 s Chile 6’61 Jan. Chile 68 '61 Sep! Chile Cop db &8 *47. Chl Mtg Bk 6% '57 Cin Un Trm 58 202 CCC&StL5s 3. Clev Ter 6% sA " Cologne 6338 Colomb 6861 Jan, Colomb 68 '61 Oct.. Colon O11 65°38.... Colo & Sou 4%5'35, Colo & Sou 414 '80 Col G&E §s'52 May Col Gas&El 5s’61.., Con G NY 4%s’51, Con G NY 534845 Cuba 53%s"45. Cuba R R 18t 58°52. Cuba Nor 534342, Czecho 8551 Csecho 88°52...... Del&Hud ref és"43. Denmark 6s '42 Denver Gas 5s '51.. D&RGrends'36.. D&RG W 53’56, D&RG W 5s'78. DetEd4%sD’'61.. Det Edison rf 58'49, Dodge Bros 6s'40 Duquesne 4% Dutch East 1 6 . East CSug 7%837. El Salvador 8s'48.. Erie gen 4s'96. Erieref 55°67. Erieret s Finland 5%s '58.... 4 Fram Ind 7%8°42 Gelsenk’hen Gen Cable 6% Gen Motors 65 '37.. Gen P Sv51%4839.. Ger Cent BX 63 Ger Cen Bk 6560 J Ger Cen Bk 6560 0 Ger Cen Bk 75 °50. . Ger Gen Elec 65°48 Ger Gen E178 45 Grt Nor4%sE ‘17 Grt Nor gn 78°36.... Haitl 6s 52 Hudson Coal Hud & M adj Hud & M rf 58°67.. Humble Oil 55 '37.. 111 Cent ct tr 48’52, IllCent 4%8°66... 111 CCStL&N bsA. . 111 Steel db 4% s 40, Inland St 4% s B'S1 Int Rap Trrf 55 "66 Int & G Nad 6s’52, Int Hydro El 6s’44. Int Match 58’41 Int Match §s *47 Int Pap 6s°55 Int Tel&T 4 Int T &T 5s'65. Italy 7s ‘51 Italy Pub 78'52. .0 Japanese 5%s 65 Japanese 6% 5 Kan C PAL 4%s'61 Kan City Sou 38'50, Kan City Ter 4560, Kan G&E 4%8'30 Karstadt 6543..... Kreug & Toll 58'59. Laclede Gas 5s Lautaro Nit 68 '64.. Leh Val cn 45 2003 Leh Vcn 4382003, Lig & Myers 58 '51. Loew’s 6s '41 . Long Islre4s’49.. Lorillard 5s'51. Lorillard 7s'44. Lou G & El 55 A'63. B ot SonBRenw=ont ma ® 9 PREnwSammmRann e - 0 1 5309 00 00 i 1 10 0 1 1 00 13,69 4 IO 19 19 2 50 1 14 00 01 1 1O 1 1 1 00 2 D 19 €0 1940 1 b &1 N 00 1 r 1 e PAWSHe B amon® - 0 SR w W= E W~ aamm e @ PR RPRRENARBIOAN O @ & 100 29 100 29 100 22 100 22 102 16 102 16 104 26 104 26 108 16 108 16 113 113 118 103% 103% 103% = - 0. MK & T adj 5s'67. MK&T3isA'2... Mo Pac gn 4s°75. Mo Pac 58 F '77 Mo Pac 5s I'81 Mo Pac 6348 A "49.. Mont Pow bs '43. Montevideo 6s ‘59 Montevideo 7s *52. . Mor&Co 1st 4145'39 Nassau Elec 43’51, Nat Dairy 5% »'48.. Nat Steel 55°56. ..., NEng T 1st 58 '52.. NJ Power 46s°60., N YCentdb4s’s¢.. N Y Cent 4542 NYCrt4%s2013n N YCrf 552013, NYCA&StL 1st 48’37, NYC&StL 414878, NYC&StL 1st 6s ‘32 N Y Edison s B'44 N Y Edison 58 C '51. NYEdrf6%s 41, NY EL H&P 4549, NY O&W rf4s'92,, NY Rys Inc 6s'65. ., N Y Telgn 415’39 NY W&B 4%s46. . Nia Sh Md 6550, Nord 6% ‘50 Nor & Wn cn 45’96, Norf&Wn dlv 45’44 North Am Co 5s '61. Nor Am Ed 55 C'69. Nor AmE 514563, N Ger Lloya 6s *4' NorOT&L 6s'47. Nor Pac gn 3s 2047, Nor Pac 4s'97....., Nor Pac 5s D 2047.. Nor Pacri 652047, Nor St Pw 55 A *41., Nor St Pw 65 B "41.. Norway 6s°43..... Oreg-Wash 4s'61.. Orient Dev 538 ‘58, Orfent Dev 6s ‘53 Pac T&T 1st 58°'37, Paramount 63 *47. . Param-Pub 5%s 50 Pathe Exch 7s ‘37 Penn gn 4%s'65 Penn 4%s D '70 Penn 4%s'63 Penn 5s'64. Penn gen 5568, .. Penn 6141536 . Penn P&L ¢%s'81. Phila Co 53°67..... Phila Elec 4s'71. Pnila & Read Philippine R Phillip Pet 5%s ‘39 Pillsb F M 65’4 P& WV4ksC Poland 6s *40 Poland 7s'47 Poland 85 '50...... Port Gn E1 41860 Pos Tel & C 53 '63.. 13 Prussia 6s'52...... | Prussia 6148 °51. Public Serv 4s 'T1.. PubSv G 434s8'67., Pub8v G 4%s'70. Pure O11 534837 Pure O1l %5 *40 Queensland 6s47.. Queensiand 7s'41.. Rem R 5% sA’4Tww Rhinelbe U 7s 48, Rhine Ruhr 68 53.. Rhine West 6s Rhine W 6 Rhine W . ] Rhine West 7s'50.. Rich O1l Cal 6s *44. Rio de Jan 63353, R Gr Do Sul 6s *68... Rio Gr W 1st 4s'39 RIAr&L 4%s 34, Rome 6%352.... .0 St L&SF 45 A '50... StL&SF 4%s'18. St L&SF%s B StP&KCSL 415841, Sao Pau 7s" Saxon P W 6% Saxon 78 '45. Seab A L 6s A ‘45 Serbs-Cr-S1 7s'62.. Serbs-Cr-S 85 "62.. Shell U Ofl 55°47. ., Shell U O 58" 49ww. Shinyetsu 6% s '52. Sinc 01l 6348 B'38., SincOIl 78 A '37.., SincCr O 5%s ‘38 Skelly Of1 5% 8°39. Solvay Am s '42 Sou Bell T&T 58 *41 Sou Pac col 48 49.. Sou Pac rf 4s ‘55, .. Sou Pac 4 1. Sou P&OT 4148 A'TT Sou Ry gn 655 Sou Ry 634s'56. ... Sou Ry M&O 4s°38. StOIINJ6 . StOIIN Y 4%s'51., Sweden 5% '54. ... Swiss 5%s". ‘Tenn E1 P 68 A "47.. Tex Corp cv 58 "44. . 4: Tex & Pac 58 B'77., Tex& P 53 D'30... ‘Third Avrf 4s°60., Third Avadj 5360, 'Tob P NJ 618 2022 Toho El Pw 7s '55 Tokio El Lt Un Pac 1st 4s 47 Un Pac rf 4s 2008 Unit Drug 58 *58. Utd King 5%s°'37.., U S Rubber 58 "47. Un St W6Ek%sA'4 Utah P& L 5844 Util Pw 58’59 ww.. Utll Pow 6%s 47.. Vanadium St 5841, a @ ANDarRAl S AN RNARSRana =B o an S uren anbhivcRaaaRnE wo woare e Poorm e B VaRy1st5s A ‘62, Warn Quin 6s°39 West El db 58 *44. West Union 68 '51.. tphalia 6s'53.. Wh Sew Mch 63 '40. Wilks B E 1st 58’42 Wil & Co 1st 63 Wis CentTm Ygstn S&T 5s A'78. Ygstn S&T 58 B'70. » o TSP SIS 1) Baltimore Markets Special Dispatch to The Star. Eitons, 100 pownds, Toasn: Maead pot , pounds, 75a95; Mary] and Virginia Cobblers, barrel, 1.25a1.50; sweet potatoes, bushel, 30a60; beans, bushel, 75a1.25; beets, 100, 1.50a2.00; cabbage, bushel, 35a40; carrots, 100, 1.50a2.00; celery, crate, 75a1.25; cauli- flower, crate, 1.10a1.50; cucumbers, bushel, 1.50a2.00; corn, dozen, 6al2; eggplants, hamper, 20a25; lettuce, crate, 2.00a3.00; lima beans, bushel, 1.7582.25; onions, per 100 pounds, 85a1.00; peas, bushel, 1.50a2.25; pegpen, hamper, 20a 30; pumpkins, , 5a10; squash, bushel, 30a40; spinach, bushel, 70a90; tomatoes, hamper, 20a35; canners stock, bushel, 35a40; apples, bushel, 35a1.25; Concord grapes, basket, 35a40; peaches, bushel, 75a1.75; pears, bushel, 50a1.50. Dairy Markets, Chickens—Young, sound, 12a16; Leg- horns, 11al3; old hens, 13al7; - horns, old, 10a12; roosters, 8a10; ducks, 9al2; pigeons, pair, 10a15; guinea fowls, 25a40. Eggs—Receipts, 1,233 cases; hennery whites, 30a32; Western firsts, 24a25; nearby firsts, 24a25. Butter—Good to fancy, creamery, 18 a23; ladles, 13a14; process, 15a16; store pachked, 10all. —_— Until a swallow hatches her eggs in a nest attached to the bell rope in & church at Goole, England, the will not be tolleds : 5 20 Years. Special Dispatch to The Star. NEW YORK, October 1.—A test is expected soon to be made of the ability of the Government bond market to absorb a long-term issue. As most of the financing in behalf of the Treas- ury in the last few years has been in short-term Treasury notes and cer- tificates of indebtedness, though with & gradual lengthening of the maturity recently to a five-year term, there is no precedent for the degree to which institutions and corporations, as well as private investors, will look with favor on a long-term bond. ‘The latest Treasury statement pub- lished shows that the Treasury bal- ance is in the neighborhod of $880,000,- 000. This amount is greatly in excess of the balances in the second half of the last fiscal year. It provides con- siderable leeway for financing necessary requirements. _Consequently no special " strain on the Treasury need occur when the time comes for paying off the $330.- 000,000 of 3! per cent Treasury certifi- cates which fall due on October 15. 20-Year Issue Rumored. It is believed the proposed issue of long-term bonds may be limited to $250,000,000 and that the life of the issue may be 20 years. In 1922 Treas- ury 4!4s were sold with a due date in 1952. These are now quoted at a premium over par of about 8% points. In 1924 an issue of over $1,000,000,000 of Treasury 4s was offered, maturing in 1954. These are today quoted at 104%;. Two years later Treasury 3%s were brought out, maturing in 1956. They are now selling at a premium slightly above 2'4 points. In 1927, 1928 and 1931 three issues of Treasury 33gs were offered, of which two mature in 1943 and the third in 1947. All are now above par. Also in 1931 there were issues of 3’4 per cent and 3. per cent Treasuries. one due in 1949 and the other in 1955. The one was today quoted at a discount of 1% ints and the other at 3 points. All g‘f’ these bonds may be called from 3 to 10 years prior to their absolute due date. The reception given to a new issue of long-term bonds by the public would probably determine the policy of the Treasury toward refunding the first Liberty 4'4s, callable after. June 15 of this year, but which. it was indicated on September 15, will not be disturbed this year. The amount of this issue is $533,491,650. If they are to be called next June notice to this effect must go out by March 15, or shortly after the presidential inauguration date. This would make it one of the earliest major Treasury operations of whatever admin- istration might then be in power. It is doubtful if. owing to its size, any action will be taken on the fourth Liberty 414s, which are callable after October 15, 1933, and mature in the same month of 1938. ‘There has been an insistent demand for a long time that an effort be made to induce private investors to purchase long-term Government bonds. Teday a large percentage of all Government issues are in the portfolios of the banks and of corporations that maintain a liquid position through holdings of short-term Government securities. The American public holds a smaller amount per capita of its national loans than any other important government in the world. The difficulty in developing an interest among investors in American Government loans is the small rate of interest which these have paid, and, in the case of recent emissions, their short-term character, which involves frequent exchanges of maturing issues. New Issues Few. ‘The Government bond market lately has been persistently strong, with prac- tically all members of it selling at the highest prices of the year. This re- flects not only general ease of money rates, but the lack of new corporation issues of a character that would be attractive to conservative investors. It has always been believed that just as soon as the corporation market opens up and provides a satisfactory outlet for carefully managed investment funds, the supplies of Government bonds coming from institutions now heavily invested in them would react against prices and make future financing of a short-term character more difficult and so compel more long-term bonds, in which the general public might participate. (Copyright, 1932.) Markets at a Glance NEW YORK, October 1 (#).—Stocks steady; market stagnant. Bonds ir- regular; rails ease. Curb easy; utilities sag. Foreign exchanges irregular; sterling easy. Cotton lower; increased hedge selling; lower cables. Sugar quiet; Cuban buying. Coffee steady; generally higher on Brazilian support. CHICAGO STécK MARKET CHICAGO, October 1 (#).—Following is the complete official list of transac- tions in stocks on the Chicago Stock Exchange today: = ynch Corp . 800 Marshall Field 50 McGraw Elec 450 Mid West Uil 50 Modine 20 Quaker 2 S5m0 LIPS 2 G T FEETEE 25RBe wlm oS 258 ot Btock sales today, 10,000. BONDS. 3000 Insull Util 6s 1940.... Bond sales today, $3,000. ¥ # Market Averages By the Associated Press. 223 awon Baaass s R dataraa BSEIRo 55! T8 ago. 1! ‘m», Bt EosREss: 2B - 828 13 i T Sintatn AR Pl-oteR et Prarttanastvtac hty '3 [ iR AR A prSvmaansan Ly i End Trading. BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, October 1.—After open- ing dull and irregularly the Curb Ex- change steadied today but dealings lag- ged. Among the leaders, Electric Bond & Share was down about a point. Cities Service was a shade lower. So was Standard Oil of Indiana. American Gas & Electric pointed upward, as did Niag- ara Hudson and Atlas Corporation. Trade reviews again emphasized Te- tail buying expansion, but the gain in weekly car loadings was less than ex- pected. On the other hand, all of the weekly banking statistics were favor- able. Stutz Motors responded to an official announcement that unfilled orders were greater than at any time since last May. Stein Cosmetics directors took no ac- tion on the quarterly preferred divi- dend. The special dividend declared by Penn-Mex Fuel amounted to $5.18. United Shoe Machinery previously had discounted estimated 1932 earnings of $2.25 a share against $2.94 in 1931. Imperial Ofl, controlled by Standard Ofl of New Jersey, plans to expand in the prairie provinces of Canada, be- cause of the imposition of petroleum import duties which will change much of the rail movement of oil and gaso- line into Western Canada. The stock has been inactive here recently, as prominent local interests apparently accumulated a line of it at low levels some time ago. Ford Motor, Ltd., turned a trifle more active on London cables reporting that directors of the German subsidiary discussed increasing capital, proceeds of which would be used to liquidate short-term indebtedness. Quaker Oats preferred opened up & point, but food shares generally were quiet. Newmont Mining, on its first few trades, was up about a point. In the chemicals, American Cyanamid B firmed. CANADA INPROVES TS TRADE STATUS Gain in Car Loadings Indi- _cates Turn for Better in Business. | Bpecial Dispatch to The star. NEW YORK, October 1.—Those scanning the economic skies for signs of the return of good business have not overlooked Canada. Business in Can- ada is so much a part of business in the United States, quite apart from the general equation that better trade anywhere in the world encourages other regions, that Canadian statistics are commonly dication of dustry. An analysis of the latest Canadian car-loading figures shows an improve- ment marked enough to excite - wide- spread comment. In the week of Sep- tember 3 Canadian loadings totaled 41.- 521 cars, in the next week 44,278 cars quoted as an additional in- the health of American in- |and in the week of September 17 the figure rose to 55527 cars. This com- pares with 50,227 cars in the week of September 12, 1931. Canadian car loadings have now for two successive weeks exceeded the figures for the corresponding weeks of 1931. American loadings are still running .some 150,000 cars under the same week of 1931. Analysis of Loadings. Details of the Canadian loadings are more significant than the totals. Load- ings of grain and grain products, which aggregated only 9,820 cars in the week of September 12, 1931, totaled 20,044 cars in the corresponding week this year. The loadings of grain in Canada for three successive weeks of September to date were 7,611, 15,017 and 20,044. Loadings of live stock increased 140 cars. Loadings of coal rose from 3,998 cars to 5,386 in a week, lumber loadings from 876 to 991, pulp and paper from 1485 to 1,835, forest products from 1,- 034 to 1,296, ore from 617 to 694 and miscellaneous from 8,147 to 9,843. Five of these items showed substantial in- Creases over the same week of 1931. Loadings of general merchandise in less than carload lots—a reliable in- dicator of general business activity—in- creased from 11,544 cars in the week of September 10 to 13,637 cars in the week of September 17. This last figure coms= ?;;? with 12,975 in the same week of An increase in grain loadings is not always accepted as a sign of improved business, but this year it is. Grain loadings last year were small because the grain was not sold, but held in elevators at the head of the lakes or back in the prairie provinces. This year grain is in demand and is being sold so rapidly that hedging pressure against the Canadian crop reached as high as 3,000,000 bushels a day in the recent market. The Canadian Pacific Railroad has had to put on 3,000 ad- ditional men at_ the head of the Lakes in order to handle the shipment. of the grain crop—a move that has not been necessary for many years. Machinery Shipments Larger. Trade authorities in Montreal and Toronto point to the steep upturn in shipments of small machinery as indi- cating the returning prosperity of small businesses. This is evidenced also in * | the frequent reports of new plant con- struction. The latest reports list a new gravel-crushing plant in Prince Ed- wards Island, truck plant at Preston, Ontario; an oil refinery at Weyburn, Saskatchewan; new oil tanks at Campbellton, New Brunswick; a new oil refinery at Montreal, and & new egg powder plant at Saskatoon. The latter plant will consume 180,000 eggs a day and attempt to take the egg-powder business away from China, which has enjoyed & virtual monoply for years. In the West, according to advices from the railroads and the large Canadian banks, whose branches are more closely in touch with the Canadian farmers than any other agency, the farmers are in a stronger position today than at any time since the beginning of the depression. Pay- ments on mortgages have and in not a few instances mortgages have been entirely paid up. (Copyright, 1032.) —_— Bond Pools. Am Cyanamid B ‘Am Founder: Buff N&E pf (1.60). Canadian Marconi., Carib Syndicat Cent Pub Sve A. Buwnw ~Bun movanlonnansna Claude Neon Inc. Comunty Wat Sve.. Comwlth & Sou war Comstock Tunnel. . Consol Royal (20¢c) Cord Corp. Deere & Co Detroit Alrcraft Eastn States Power East Utll Assocv. . Eisler Elec Corp. .. K1 Bd & Share b6 % Empire G & F 6%. Fisk Rub pf (new) Ford Motor Can A Ford M Lud........ General Alloys. ... Gen Pub Service pt Goldman Sachs. ... Gold Seal El new. Gulf Ofl of Pa..... Huyler S Del ¢ pt 7. Ins CoN Am (2)... Int Petrol (1)..... Int Superpwr (50¢) Irving Air Ch(40c). Kleinert.......... Lakey Fdy, & Mch. . s s e ANAN . M HNE® AR § R a - % Seg: Nat Bellas Hess. . .. New Eng Pw pf (6) Newmont Mining. Niag Hud Pwr 1.2 Ohio Copper. Pan Am Alrway: Penroad Corp. . Penn W & Pw (3).. Pilot Radio Tube A. Pub Utll Hld x . Quaker Oats pf (6). 10s 107 107 Reliance Int A..... 4 2% fry Safety Car H & Lt.. 25s 36 St Regis Pape: Selected Industries Shenandoah pf..... Slerra Pac EI pf (6) Silica Gelet....... S0 Am Gold & Plat. Sou CalEd pf B134 Stand Invest cm pf, Stand Oil Ind (1). ., Stutz Motor Car. Swift & Co. Tech Hughes (60c). United Corp war... Un Gas of Canada Utd Elec Service. .. United Founder: United Gas. Eroifonst] U S Foll B (30c)... Uil P&Lt.... Vick Financ (30c Watson (J W) W Wenden Copp b B West Afr Express.. 1 11% 11 Dividend rates in dollars based on PIT =T T YSTSTORP W 5 e = quarterly or semi-annual ent. | aividend {Partiy exira. Yeils 4% I in cash or stock. . ¢ Adjustment - dividend. in stock. g Plus 8% in stock. h Pi - E A X stock. D Paid last year—no r 3 Parable b Payal R ——— R ——— Bales in thousands. Do % Lo 38, " e, e oY o) 3= 7. 3 3 285° 535N INTRBRLURNLER e ::!:S:‘JZ—S!SBB!E?_:SS:&G i i nsum Pow 4138 '58 100! ntinen Ofl 5tes '37 941 t C Gas 88 A '47.. 90 t Inter Brds 7s 53 998! FGE FE FEET 2 Firestone C M 53 '48 1Firesione Tire 55 '42 8 3 Fisk Rubber 3" 20 Gatineau Bow 85 ‘gllln!lu Pow 6s ‘41 & 209088 T35 FEEF FEE OR e *goRE 2 mirman>t : 528 GnESds! i TR T T PP I P T Y [ o 2332828785 &IE -82SS=8=8l“.’»!slt:8:?;8!:32885:23&28:%5' : 3 5 = = F R $2s5nanse v & & .. 2 FF RPRE cRiFERE W PETERE TES FEsetesusasazaransear., 2:353sissuasararany 5853388 aREunRRRSs 228 & F FESEE - a8 SN A LIPS £} o5 3 > 33 (2 KRR} '3 533822833 FFE S Loy Ak REE rona Eed o i >O>fl1‘f 43 £y 2 & o Weaa®T EEEE] SEptetin oot 58 o > eieia. 2 | ZERE 44 woo! 2%, EEEE! £ EH o) 2ETRQ0w> B R Na pes Butter—One-pound prints, 93 score, 23; 92 score, 21; standard, 20; tub, §3 score, 22; 92 score, 20; standard, 19. Eggs—Hennery whites, 27a28; curren Treceipts, 22a23; sealed Governme wnde.”flm 41; standards, 35; medi- ums, 32. Poultry, alive— Turkeys, hens, 15; toms, 13; crooked breasts, 10; turkeys, 20a23; chickens, Plymouth Rocks, 3 pounds and ever, 15ai7; 214 to 3 pounds, 13al4; under 2%, pounds, 13; hens, small, 11a12; hens, , 148 15; Leghorn hens, 10; mixed colored cmkent ';2:1!; m&m 8; = young, pounds, per pair, 50; oilm" 2-pounds and over, per pair, 70; ds and over, ; 2% to 8 pounds, 18al9; under 2Y2 pounds, 18; hens, small, 16al17; hens, large, 18a21; horn hens, 14a 16; mlxg colored chickens, 17a18; 15, 12. Meats—Beef, 15; lamb, 14; veal, 11; pork loins, 15; fresh hams, 13; smoked hams, 14; gmp bacon, ll; lard, 7%; Fruits — Cantaloupes, jumbos, 1.25; standards, 1.00; ple ,‘bu:shz NEW YORK, October 1 (Special)— | 8raj The obvious success of the $100,000,000 mm hlgh-cndmgl h:"ihgn by&n:m f le 95 a o the bear market and has a substantial profit as a result, has prompted the for- mation of numerous other bond pools. ‘They were 0! on the expectation that the bond market’s advance will be extended a considerable . While this will eventually be true, where sec- ond and third le bonds are con- cerned, investors should be advised that many junior bonds will be subject to re- organization before recovery enters its final phase, and all pools deal- ing in such media must necessarily be speculative. The high-grade market, from present levels, offers small possie substantial appreciation, lons, 7. X plums, 1.5081.75 ’hg;wybafll. 2.2502.75; Persian Vegetables—Potatoes, 100-pound sacks, 95a1.00; Idsho bakers, 2.25; sweets, bushels, 60a75; string beans, 1.5081.75; limas, 2.008250; peas, 175423 2 — keats, honeydews, 1.5081.75; melons, CURB MARKET §8tand GAE cv 6s '35 38tand Ges & E 6 §8un Ol 5%y :!Il: 0} flhn 20 Swire” W SF i3 - 4 Rubr G 18 Torm Boc’ WE—With wai XW—W! 2LL5EU2LR.20858 SBUB-IRIS2ERRLL! 3538828245828 b3 rrants. ithout warrants. D—New Wi—When issued. BUILDING AND LOAN COUNCIL IS ELECTED C. B. Bauman Heads Local Organ- ization—Home Loan Subscrip. tions Planned. Chapin B. Bauman was elected pres- ident of the Distriet Bullding and Loan Association Council at the annual meet- ing held last evening. Carl J. Berg- mann was named vice president, Wil- Ham 8. Quinter, secreta: - 1ard T, Dickson, treasurer.” "o o The Executive Committee was desig- nated as C. Clinton James, J. L. Sher- wood, James Shes, John B. Grier, gflw‘;n M. Emmerich and Edward C. Reports from delegates to the na- tional convention at French Lick, Ind.. he coming Boathesrtin Bamty 0 eas! l‘leir'tmh Be-ch':h Contexence as stated that the majority of % local bu'fl|:1.|n¢ xd loan l.{)qnybns make subscriptions . to the Home New York Cotton Special Dispatch to The Star. g:;v reacted mhed’(ned.y"l;l.:}mu un- se] by the South and owing to s less active de- mand, disappointing Liverpool cables and more favorable weather, Prices fv]enr“dzo“ mh’l’ points lower. Spots e points lower at 7.05. Cotton range: High. Lo i o1 SUBR X i I % 7. Trees have been planted the = ernment on 1,600 lgrel in ley' z:-md this year, 230 men being oyed. eight camps. e o FIRST Sugar Plantations. Special Dispatch to The Star. NEW YORK, October 1.—The hurri- cane which swept over Puerto Rico ‘Tuesday left in its wake damage total- ing millions of dollars to the coffee, citrus and sugar crops of that island, according to advices received here by brokers and dealers along Pront street, the coffee and sugar district, and along the West Side, where grocers and can- ners make their headquarters. The wind cut down many orchards, | causing an estimated loss of more than *|$7,000000 alone to the citrus fruit growers, whose grapefruit especially ars now being marketed here. Many of these orchardists had just recovered from the | severe blow of the 1928 hurricane, which uprooted their trees. Since most of the American supplies of grapefruit are grown within our own borders, the destruction of the Puerto Rican crop will have only a temporary effect on prices. Coffee Loss Is Large. ‘The coffee crop of the island was just | ripening and the storm caused a prop- erty loss far above that inflicted on the citrus fruit growers. Coffee growers "hld not yet recovered from the hurri- + | cane of four years ago. Stored in the Port of Santos, Sao Paulo, Brazil, is enough coffee to sup- ply the world for the next two years at the present rate of consumption. But with 250 municipalities in that state on a war footing and with the world's /4 coffee port prevented from sending out its stores of coffee since the revolution- ary movement started last July 9, it was_thought that puerto Rico's coffee would help to prevent a shortage here. Brazil, despite the revolution, continues to burn its inferior coffees. Reports today indicate the destruction of 1,300,- 000 bags since the rebellion started. Several cargoes of raw sugar were en route from Puerto Rico when the storm lashed that section and the vessels had not been officially heard from today, but the island, whose sugar crop comes into the United States free of duty, is not the important source of sugar for this country. Only a fortnight ago, for | the first time in two years, Santo Do- mingo shipped sugar cane in its natural state to Puerto Rico. Continental United States produces less than one-fifth of its sugar require- ments. This means we must import about 4,400,000 tons of sugar each year to mee¢ normal requirements, Until recent years about half of our sugar imports came from Cuba, but tha$ island now sends us about one-third, the rest coming from the Philippines, Hawaii and Puerto Rico. All of these sugars come in here duty free. Sugar Production. The sugar crop vear ended August 31. According to latest available statistics | production of sugar in this country | amounted to about 1,071,428 long tons against 1,070,000 in 1929. Hawaii pro- duced about 1,000,000 against 844,462 in 1929, while the Phillippines in those two years had 984,000 and 740,987, re- spectively, and Porto Rico 886,098 and 530,116 tons. Indeed, in the last two years it has been the Puerto Rican sugar companies on the local stock exchanges, that have shown profits while Cuban sugar pre ducers showed constantly widening losses. The hurricane might change the profit picture for Puerto Rican com- penies temporarily. Although candy manufscturers are anticipating a better holiday season than a year ago and household and canners’ use for late fruits will be large until the end of next month, the Puerto Rican hurricane should e only a temporary effect, if any, on sugar quotations, (Copyright, |$17,500,000 INSURANCE WRITTEN IN 9 MONTHS In the first nine months of the cur- rent year the Morris Plan Insurance |Soc1ety. whose home office is in New York City, wrote a total of $17,500,000 in insurance in 24 States. Since the inception of this society in 1917 over $250,000,000 insurance has been written for borrowers on the Mor- ris plan of industrial banking. These, and additional figures show- ing the growth and progress of this or- ganization, were made known to the press by Henry H. Kohn, president of the society, who, with Robert W. Wat-- son, vice president, is attending the convention of Morris plan banks and companies, now taking place in Wash- SECURITIES i 6% fe investment—secured. A sai y direct Pirst Mort on 1 - Blcii Broperties in Tas Noman s BesHieL In Denominations as Low as $100 Monthly Payments If Desired REAL ESTATE MORTGAGE AND GUARANT! 1610 K_Street = N 1032) FIRST MORTGAGE FIRST TRUST REAL ESTATE NOTES FOR SALE J. LEO KOLB 804 17th St 1237 Wisc. Ave. soeT. West 0008, MORTGAGES WHAT SHOULD AN INVESTMENT ACCOMPLISH? In an investment yom are seeking not only safety for your principal, : but that it Over & Third of a Century Withowt a Eoss la‘ an Fwuestor, our shall be at work earni a satisfactory return. You will find : ) FIRST MORTGAGES ' ¥ an ideal investment for both of tHes@ ’ reasons. Your principal is safe, bes ing secured by conservatively ap- praised improved Washington real estate, and the interest not only gen. erous, but will remain unchanged throughout the life of the mortgage. May be purchased in amounts from $250 up—and use our eonvems ient Partial Payment Plan if you so desire. B. F. SAUL CO. National 2100 925 15th St. N.W. THERE IS NO SUBSTITUTE FOR SAFETY |