Evening Star Newspaper, January 28, 1933, Page 11

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FINANCIAL. FOREENBDNDLIST VELISTOSELLNG : fluence hy Resignation - of Cabinet. BY CHARLES F. SPEARE. “Bbécial Dispatch to The Star. | NEW YORK, January 28.—The resig- | Dation of both the French and German cabinets led to some selling today in forei vernment dollar bonds. The eflzc‘{nu%othfis political incident was most visible in German issues, the gov- ernment loans dropping 1 to nearly 2 points’ and some of the corporation bonds 2 points. As indications now are that Adolf, Hitler may be the next German chan- | cellor, it will be ‘interesting to see how | far the merket§ have adjusted them- selves to a situation that two years ago would have caused a severe panic in all | European securities. Receivership. for Radio - Keith - Or- pheum, following that for Paramount- Puyblix, brought - additional liquidation into the amusement company bonds. \Warner Bros. Picture 6s dropped a point and Paramount-Publix 51%s reached a new low figure, while Loew's 6s held steady. Other weak industrials were National Dairy Products 5';s and the McCrory Store 5!4s. United Rug 5s ad- ‘vanced over 2 points and Tobacco Prod- ucts §'2s duplicated their former high ce. Thé tone of all Cenadian securities was heavy, including the government 5s. Canadian” National 7s dropped 2 points and Canadian Pacific issues were frac- tionally lower. ‘There was not much change in the domtestic rail list except for declines of a point in Great Northern 7s and New Haven 6s. The Couzens resolu- tion postponing further loans by the Reconstruction Finance Corporation to the carriers had a somewhat chilling effect on the obligations of roads that had been carrying on under Govern- ment aid. High grade railroad bonds, however, -were strong with Union Pa- cific 4s at par and Atchison 4s above 95. Standard Oil of N. J. 4%s again sold at 100. Fhe Liberty 315s lost all of Friday's gain. The fourth 414s were also lower. Not much change occurred in the rest of the Government list. TRADING IN COTTON DROPS DURING WEEK Market Has Steady Tone, With Offerings in Moderate Volume. By the Associated Press. NEW YORK, January 28.—A dispo- sition to await the further development of legislative uncertainties in Wash- ington, or a better line on acreage and general trade prospects, has been re- flected by the corparatively small busi- nui in cotton here during the past week, according to local brokers, Fur- ther near-month liquidation incident to thé evening-up of January contracts and the nearer approach of March ma- turity, has been quite readily taken at the prevailing differences. Selling otherwise has been limited to a moderate volume of offerings from the South and little spurts of realizing or scattering liquidation. This has been absorbed by & continued demand from the trade‘while some commissiorr house buying was reported and some observ. ers tglnk they have seen a little vestment buying on- declines -or scale- down. orders. These operations have been reflected by some irregularity in fluctuations, but prices have held within 8. comparatively narrow range with the market showing a fairly steady under- tone. 5 report of the Census Bureau lh{v%xg 12,418,310 bales of cotton ginned prior to January 16 was about in line with expectations and without apparent effect on the market although some traders regarded the figures as pointing to a total outturn slightly in excess of the December estimate. Some attention has also been attracted by the falling off in exports as compared ‘with last year, but on the whole statis- tical features have come in for very| Chil little discussion. New York Cotton NEW YORK, January 28 (#)—Cot~ ton futures closed steady, ¥; lower. Opening. High. Low. . [ 0 uary . 74 Spot, quiet:’ middling, 6 R —— AIR INDUSTRY MERGER IS UNDER DISCUSSION By the Assccisted Press. b NEW YORK, January 28 —Completion of a pending plan to mesge General Aviation Corporation, an affiliate of Generl Motors Corporation, and North American Ayiation, Inc., will give the former working control of the new com- pany, it was reported. Progress is being made on the plan, officers of the companies said, but ne- gotiations have not been concluded. Assets of General Aviation would be transferred to North American for a hlock of stock, and the latter’s outstand- 2,118,859 common shares would be substantially increased if the deal is effécted on the basis of terms now be- ing it was said. It is also proposed that General Avia- tion continpe in existence as a holding compeny, with the block of North American sharés as its principal asset. Displayed Fairly | Bush Ter con BOND UNITED l'l‘sz:?. Clinkes ave in | . 10317 10832 10838 b3%s 32-47... i I tiass-a7 10229 10224 10226 b 4th 435 33-38 10319 10316 10318 55 9824 9822 9824 100 9930 100 3 102 15 10215 10215 US3%s8J 40-43., 10220 10218 10230 47... 10216 10215 10215 1069 1068 1059 107 106 29 10629 11028 11026 11226 Am Sug Ref 6337, Am T&T c tr 53°48. Am T&T deb 5860, Am T&T deb s ‘66, Am T&T 5%8'43... Am Wat Wks 58'34. Antioquia 7545 Argentine 5%s'62. Argent 63 61 May. Argentine ¢ ‘5! o - (9 -PRSTeRUrIre -1 L | PG TT " 2 Atchison gn Atchison ¢%8 AtICLcl4s’53. AtICL un 4% At Ref db ba ‘31 Australia 4% '56. Australia 53°55. B&Orf6sC'95 B & O Sw dv 5 Belgium 6356 Belgium 6% Belgium 78 ‘65, Belgium 7556, Berlin 6%48°60..... Berlin CEl 6%3'51. Berlin Cy El 63 ‘56 Beth Stl pm b5 '36., Beth Stlrf 68 "4 Bordeaux 6s°34.... Bos & Me 4% 5'61J. - s Brazil 8541 Bremen 7s ‘3| Bklyn Man Bklyn U Ga: Buenos A R aSSenulimnanCE e » warn® Bush T Bldg 65°60 Calif Packing 65’40 Canada 4s Ry 4348'57 Can Nat ¢% ‘68 Can Nat Ry 4% 5’ Can Nat 5 Can Nor 4%s '35 Can Nor db 6% Can Nor deb 78 '40 Can Pac db Can Pac 4% 6. Can Pac 4155 °60. .. Can Pac 55 '44 ctfs, Cent Ga cn 5845, . Cent Il E&G 58 '51 Cent Pac 1st 4549, Cent Pac 55°60. ... Cert-td db 53,s "48. ‘Ches Corp 53 '47... C&Ogen4is'sz, -~ aSImanan - fore 7 CB&QIIl 45°49.... Chi Grt West 42’59 ChiM & StP 4%sC C M StP&P 5s°'76., CM&StPadjts.. Chi&NW 4348 2037 Chi&NW Ty CANDR~ON~OOT® B ~Co s Chi RI&P rf 4s ‘34, CHRI&P4%a'53 ChiRI4348°60.... Z8aas LT E Y4 Chi), L Chile Cop ab Chl Mtg Bk 6%5 61 Cin Un Trm 58 2020 CCC&St L 4% sE17 Clev Term 4%8'77. Clev Ter 5348A'12 Cologne 6% ‘50 Colomb 6s ‘61 J; Colomb 63 *61 Oc Col G&E 65 '52 May ColGas& Ebs'61. Com Inves 5%s°49. Con G NY 4%s '51. ConGas N Y 58 °'57. Con G NY 5%s "46. Con Pow Japan 7s.. Copenhag 5s°52... Czecho 8s '52. . Del&Hud ref 4s"48. Denmark 4%s Denmark-6s '42. D&RGrcnds'36.. D&RGr4%s’s6.. D&RG W 5s'55.. Bl csakia Dodge Bros . 1 Duquesne 43 A 67 Duquesne 414 B 57 DEI6%s'53 Dutch East 16 Erfecv 4s A '53. Erte4sB - X ON NEW'YO STOCK EXCHAN Received by Private Wire Direct to The Star Office. Italy Pub 7s 68, Japanese % '65.. 45 Japanese 6%s°'54.. 18 KanCFSaMisit 3 Kan City Sou 3s'50. 39 Kan City Sou 5550 Kan City Ter 4 Karstadt 6s ‘43 Kend 5%s"48 Kresge Found ¢s'3i Kreug &Tollis'b! Leh Val cn 45 2003. 17 Lig & Myers Lig & M: ‘40.... 11 McKes & R 5%5°50. Manhat Ry cn 4s'90 12 Midvale Stl 53°36. , Milan 6%s ‘53, Mil E Ry&L 53 Nat Dairy 6% 8'48. N J Power 46s°60. . NOT& M543 '54. Nw S Wal %s . Y Centdb ds'34. z - Q © 22222222222 R RREERLn H [ 7 g 4 North Am Co 5361 Nor Am Ed 5s A'57. Nor Am Ed 65 C'¢9. NorAmE 5%s‘63. Noro'r&!.’:s 41, 4. Norway 6s ‘52 Ohte Pub 1%s Oreg-Wash 48 °61., Owens I11 G1 5539, Pac T&T 1st 59’37, Pan Am Pet 6s Paramount 68 *4 Param-Pub 534 Pathe Exch 7s '37. Penn sta 45 " Penn 4%s D 3 . Penn O&D 4%s'77, Penn P&L 4%s 81, Peop Gas ref 55°47. Phila Co b Phila Rlec 4 Phila & Read Philippine R 4537, Phillip Pet 53839 PCC&StL5s A '70.. PCC&SIL 58 B '75. P& WV 4i%sC60 Poland 7s *47. Poland 8s 5t Public Berv PubSvG 4% Queensland 6s *47 Royal Dutch 48 " StL IM R&G ¢#’33.. St L&SF 48 A’ St L SW 1st 45’89, StP&KCSL 43 8°41. San A& APds’43. 42 Skelly Ofl §3%: Soissons 6s . Sou Bell T&T Sou Pac col 48 Sou Pac rf 48 ‘56, SouP 434569 ww. Sou Pac 43s's1... Sou P&OT 414 8A’77 Sou Ry gn 45 A'S6.. Sou Ry 6%s ‘5t Swiss 5%s 46, Tenn E1P 6s A 47, Tex Corp cv 5844, Tex & Pac6sB'77. Tex & P 55 C*79. Tex & Pac 5s rd Avrf 48 0., Av adj 5560, - o - [STUPAIYS LY {911 1190 TS - PYN-T9 o228~ 02 aw~nand RoSeen - fore - - P11 IETOT Y QURUTeL- [P NP TP IOIOrAes - N 11 YO PO P81 paRak® Sk | Traders Point: to - Possible i|Meht, hopefully interpreted as the 9% proved hard to sell at the lowest levels b 3 s | 2. Tgnln traders and packers. exchanges stesdy; sterling firm. Cot- COMMODITY GAINS BELIEVED ASSURED Truce in World Ecor:omic Conflict. BY OWEN L. SCOTT. Special Disputeh to The Star. CHICAGO, January 28.—A flicker of presage to a decided break in the dark ecanomic clouds enveloping agriculture, Was seen by traders on commodity ex- changes this week. They look expectantly to two bright spots on the horizon: First, the prospect of a possible truce in the present in- e niation o Jepiticn oo lon of n| to adjust the billion dollars in farm debts. Both of these factors bear heavily on agriculture. Evidence of Stabflity. Farm markets did not respond with any us upturn to these develop- ments, but they gave further evidence of the stability that has been apparent since December. Grain and live stock markets moved only narrowly. Wheat Wwas about 3 cents over the price pre- vailing at the start of the month, and sheep were up, but heavy cattle of the century. Economists " claim that at present farmers are bearing the brunt of the world trade war, now being waged with tariffs and currencies. So devastating has been~the effect that this country’s exports of wheat, once leading the world, now are run- ning scarcely 5 per cent of the Cana- exports. Canada is favored by a | tariff advantage in the British market and has a depreciated currency. It is coming to be the same story with our pork ucts, which formerly dnml.n.honon markets. Quota re- strictions and tariffs lately have dis- Tupted these markets, throwing bacon and lard back on our consumers, with bad effects on the hog price level. For that reason, any steps taken to bring a truce in the battle is welcomed e organized grain trade, through the “Grain Committee on National Af- fairs,” asserts that the basic ills of | farming are due to debts and to ex- Pport market losses. Say the conservative grain men in| their study: | -“The men who have made these mortgages on their farm properties, and fir ‘whom they now spell financial dis- ter, have been forced into making of them in a struggle to overcome opera- tive losses brought about by continued | Government policies that have con- tracted the market for farmers’ prod- ucts and sdvanced the general com- modity prices of the things which he had to buy.” Urge Sympathetic Attitude. They suggest & sympathetic attitude on the part of the general public toward | measures designed to relieve the debt | burden. This relief is proposed through the extension of Government credit to Te! m as provided by bills | now before Congress, sponsored by Sen- ator . Joseph Robinson, Democratic | leader. ‘While negotiations and legislative moves are being made to try to settle some of the current problems of farm- ing, the farmers themselves are trying | some remedies of their own. Market- ings of grain are so slow that cash grain continues to command a premium over the futures. Live stock market- ings likewise are being curtailed with | receipts of 20 principal markets since the first of the year, showing a de- cline of 20 per cent in the number of cattle offered, 27 per cent in the num- ber of hogs and 32 per cent in the number of sheep. (Copyright, 1933.) Markets at a Glance NEW YORK, January 28 (#).—Stocks easy; United States Steel issues heavy. Bonds irregular; German issues react. Curb irregular; utilities ease. Foreign quiet; Southern selling; lower ca- bles. Sugar quiet; European selling Coffee dull; trade buying. WHOLESALE COMMODITY PRICE 35{&? CONTINUES By the Associal Wholesale commodity prices contin- ued to decline during the week ended January 21 as the trend was calcu- lated from a list selected by the Com- merce Department. In the table that follows, the index of all selling prices is given for comparable periods, based on Tepresenting 1926 levels as 100. In ad- dition, the price of a ton of composite steel products is given for like periods: compodities. Week ended January 21. 56.4 Previoum week. Bame week la: FIRM TO REDEEM BONDS. BALTIMORE, January 28 (Special). Consolidated Gas, Electric it % & Power Co. of Baltimore, which 20% moAnnt’hl’ interest, payable on March 1. given notice of its intention to redeem at 105 and accrued interest all of its onrt‘::‘mdln( series E 5 per‘cel:xt flxfi refunding_mortgage g fund gol bonds on March 1 néxt, now gives no- tice that it will pay to holders of these securities, at any time prior to March 1, the full redemptian price and six person to receive such payment may do 50 by presenting bonds with March 1, 1933, and all subsequent coupons at the principal offices of the Bankers' Trust Co. in New York. Insurance Firm Chartered. RICHMOND, Va. January 28 (Spe- cial) —A charter of ition has . of Ri mond, which ‘plans to take over the | December attracted attention ' because | | et loss of $429 278 in 1932, against net | 1. Singer Manu- | | thousands. CURB SHARES DULL INLOWER MARKET Narrow Price Changes Are Recorded—Textile Group 15 Higher. BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, January 28.—The Curb Exchange session today was marked by dullness and lower price trends. Public utilities ranged narrowly. Electric Bond and Share moved within a ;-point range, thereby earning the distinction of being a wide mover in the Jeading issues. Citles Service was @ trifle lower. A serles cf rail earning reports for most of them were better than ex- pected, though below the same month of the previous year. Alabama Great uthern, for example, surprised tape ers by showing December net operating income of $88,047 against $66,335 in December, 1931, ° s The steadiness of milk canners, sych as Carnaticn Co., in contrast with the weakness of dairying shares, is causing comment. Canned milk sales in this country were up 3.3 per cent last year. Doctors have been prescribing ~this product for infant feeding and welfare | agencies have been distributing it to the unemployed. Crocker-Wheeler Electrical was slight- | ly more active following publication of | its earning statement, which showed a ! loss of $228,346 in 1931. facturing on » few trades gained 4| points to a new peak for the year. | Seeman Brothers opened up 5!% points at 26 in its first tape appearance of | the year. From the canning trade comes the report of probable smaller packs of fruit and vegetables this sea- son due to the unwillingness of banks to finance such operations. Already this is refiected in the commercial sales of vegetable seed to truckers throughout the Southland. Cord Corporation chose to ignore the announcement that in the year ended | November, 1932, it had earned 67 cents, | a share against 26 cents in the pre-| ceding 12 months. Similarly the decla- ration of an extra 25-cent dividend by ' QGreat Atlantic & Pacific Tea was with- out immediate market effect. Sales In DOMESTIC BO! Hiah: Low. igh. w. Close. 2Alabam Pw_4l3s '87 Nois lll.:]ummum Co bs ' 047 5 = | 9 Cap Adm .5 12 Eaforina pax Rel 5125 A itles Service 5s ties Service 55 t Brv Gas blas t Brv P Z 4 | velt's advisers. Co 5 4 cible Steel bs 10 Cudahy Pkg blas 2 Det g Gas 65 A 58 752 4R B3Emp O & R Blas 43 1 Pederal Wt 5125 /54, . 3 Firestone CM " 5s 5 Firestone Tire bs 20 Florida P Gen Wt 68 B4 14 13 :‘Gflll’:t"‘: S Re'b %o: 1"3" 4 3 s . 101, ulf ONl Ba B 2a7.- 10044 10034 10848 ] 10014 100 10014 T3% T13% 7 47 47 671 55 5! 0y 0413 3 i3 HEET0000 83 % |assume that the point of view 5 gh P 8 6s 2026 2 Libby McN&L Bs. 4% OLa P & L 5s %Mlhlfio 2 Pw 723, 723 114 101 % 101 48 56% 56% BAY 50 57% 57‘ 57/' 97% 97% 978 Aluminum of Amer100s 49 Alumn Ltd cum pf. 1 Am Beverage, 10 Am Cit P&L A (33) Am Cyanamid B... Am Founders. Am Gas & El (1) Am Gas & E pf (). Am Superpower. Arcturs Arkan Asso Gas&Elec (A) 6 ‘Atlas Utilities 9 Elue Ridge.... Col Q1] & Gas vtc Comw1th Edis (5).. Comwlth & Sou wr. Comstotk Tunnel Consol Retail Str: Cord Corp...i..... Crocker Wheeler. . % | ments. For this reason conferences be- |Ing Neld this week between President- | Btreet. , Bernard M. Baruch, who is the active 3832 [to- investigate and report on the prob- | —% roads, is another man to whom Mr. 9 _89 1103 1025 102% itz 92 % 95% Y 95l 167 5, 150 107% 10730 1073 95! 12 901 991, | du 9 s ’52 10343 10313 10315 57..100 100" 100 F 80100 100 100 , 41 110% 110% 110% 52. 106 106 " 1068 ps 85 cow esn 7415 k¢ 9 74* 70’/: 4. 10230 10254 1023 11074 1074 1074 E ‘56" &7% RTn A7 Yas "477 105 " 105 105 s P 81873 &7% " 87% 873 87U AT 50 S0 ohie & 0D 80% uog 8034 - 5 A 16 15% 16 53 44 43 oy k and Sale— Am City P&L B i5c ‘Am Lt & Trac,(2).. Am Maracaibo. RIS Am Transformer.. 26s Axton Fish A Blue Ridge ¢ pf Brazil Trac & Lt. Buft N&E pf (1.60 Burma rets(k4 %e¢) Canadian Marconi. 2 ] P POToR |- R T P S ST ISP At - T T T Cent States Elec. Centrifugal P 40c. Cities Service. e Cresson Consol k2¢ Deere & Co.... Eastr G&F pt (6)... El Bd & Share b6% E' Bd & Share pf 6. El Pwr Assoc(40c) ElPwr As A (40c) ., EmpireG&F 7% Europ Elec deb r - @ S Ford Motor Can Ford Motor France Ford Motor Ltd.... General Aviation. . Georgia Pw pf (6). 258 Gold Seal El new.. 11 Goldman Sachs.... § 3 GulfOflof Pa... 26% Hudson Bay Min 3% Humble Oil (2) 4% Intercont Pete Int Petrol (1)..... Int Safety Raz (B) 1% Inters Pwr(Del)pf. 20s 10 | 6215 o | West Cart pf (6).. 268 & | s 10% FINANCIAL. N. Y. CURB MARKET Received by Private Wire Direct to The Star Office. Stock and lo— Dividend Rate Add 00. High. Low. Olase Jones & Laughlin..10s 19 19 19 Lake Shore M (2) 4 Lehigh Coal&N 4 1 Lion D11 & Refin. .. 25s Long ILcmpt B 6 258 Mavis Bottling A.. 20 Midl West Utilities 1 Mining Corpof Can 1 Minn Honey pf (6). 208 § | Moody’s Inv pt pf 3 est war.... 1 Nat Pw&Lt pf (6). 1008 Niag Hud Pwr (1). Niag Hud (A) war. Niag Sha(Md)B 20¢ Nipissing..... Noma Electric. .... North Am Lt&Pwr. Northern P L(50¢c). Novadel Agne (5). Okla Nat G: Pac G&E 18t pf 1% Penroad Corp. . Phoenix Secur p Ploneer Gold 24c Prudential Igv. Prudential Inv Reliance Manage. . % | St Regis Paper-. ... Seeman Bros (2%) Shenandoah pf.... 3 Singer Mfg Co (8). 20s 1 Fouth Penn Ofl (1) . 4 Southern Corp'n... 1 Stand Invest cm pf 508 Stand O1l Ind (1).. Stand Oil Ky 1.20. Swift & Co.... Tampa Elec 2.24. 13% 02 | Technicolor. Tech Hughes (60c) 1 Tob & Allied Stks. . Trans Alr Trans. ... Trans Lux DLPS. : | United Founders United Gas. Utd Gas war. Utc Shoe Mch 3. 50 US&Intl 1stpf. .. | US Play Card (1). 50s Unit Verde Ext 40c. 1 1% WalgreenCo (1).. 1 13% 13% 60 60 ‘Woodley Petrol.... 1 2 2 Dividend rates in dollars based on quarterly or semi-annual payment. dividend. {Partly extra. 3Plus 4% in stock. m Plus 3% in stock. n Plus 8% in s : in stock. p Pald last year—no regular rate. STRONGER RAILROAD CREDIT STRUCTURE BEING ADVOCATED Wall Street Interested in Confercnces of Roosevelt With Leaders in Carrier Field of Special Dispatch to The Star. NEW YORK, January 28.—The debts | of the American raflroads constitute as | pressing a subject for the consideration of the incoming administration at Washington as those of foreign govern- elect Roosevelt and influential members | of his party, who have been and are now | identified with transportation affairs, | are receiving close attention in w:ui head of a committee appointed by life | rance companies and savings banks | lemsoxmeurrkn.homotur.mu-f Walker D. Hines, who was chairman of the Executive Com- mittee of the Atchison, Topeka & Santa Fe and later director general of rail- Roosevelt has turned for suggestions in the present emergency. Other Conferees. Other railroad men who have con- ferred with the President-elect” since last Summer are Daniel Willard, presi- dent of the Baltimore & Ohio, who has been the liaison between the Hoover ad- ministration and the railroads for sev- eral years; Carl R. Gray, president of the Union Pacific, and Fred E. William- son, president of the New York Central. During the presidential campaign Mr. Roosevelt made two speeches directed at the rallroad problem. The first was in Salt Lake City on September 17 and the second at St. Louis on October 22. Some portions of these addresses are worth repeating, as they indicate the philosophy of the President-elect eon- cerping the railroad question and his method of dealing with it. It is fair to Roosevelt held a few months ago is the one to which he is still committed. In St. Louis Mr. Roosevelt said: “If elected, I shall continue the policy of trying to pr;v:‘nt‘s ree!::emmu.‘ I do tl more than a stop- ::;.bfniw' ‘When mere loans cannot clean up the situation, the necessary readjustments ought to be provided as & part of the plan of lending. * * * Let me make it clear that the extension of Government credit will be largely mmflmltmnmmufig the constructive measures requi clean house. In individual railroads these turn on_the financial conditions peculiar to each case. In certain situa- tions, where fixed charges impose an unsound overstrain, they must be re- ced.” 4 ‘The emphasis placed on dealing with carriers with an overloaded debt struc- ture was repeated in the St. Louis speech when he said that advancing doles to systems was not meeting their problems—“It is sticking nnu'l'clll mustard plasters on the railroads. Possibly the most significant portion of either commitment was that made by Mr. Roosevelt in Salt Lake City in the first of six measures he advocated to assist the carriers out of their diff- 3% | culties. This was to the effect that the Government should “announce its in- tention to stand back of the railroads % for a specified period; its help being 25a1.16; Nation. railroads’ house is in order the Gov- ermnment can stand firmly behind it.” Better Credit Situation Needed. These are the essential featurec of the Roosevelt raflroad program that are being discussed today, along with efforts to reduce the wastes of competition and the. regulation of motor carriers. Those concerned with the consolidation of railroads, “in the public interest.” may be expected to effect a permanently bet- ter credit situation among the carriers and “to bring their operating balance w':hfit"“ the red and put them into Because of the urgency for for the maturing Ohunmv:"gl’xg rallroads he elect Roosevelt are now reread with new interest by railroad bankers and by holders of railroad securities. (Copyrisht, 1933.) Baltimore Markets Special Dispatch to The Star. BALTIMO] Md, Ji 28— RE, anuary ite pota per 100 pounds, 80a 1.00; barrel, 1.25a1.50; sweet potatoes, bushel, 25a70; barre! 1.00; bushel, 1.25a1.75; ML ‘50. m :e‘lwsp m:'inower, nfl)':isl'wn'w hx- quart, ; cabbage, o ket, 25a30; carrots, per 100, 1.503.00; celery, crate, 1.75a2.75; cucumbers, Mr. | hamper, 2.0024.00; eggplants, crate, 1.50 onions, a3.50; lettuce, crate, 3.2583.75; ger 100 pounds, 75890; lima beans, ushel, 2.7583.50; peas, bushel, 2.00a 2.75; peppers, bushel, 75a1.25; spinach, bushel, 5081.00; tomatoes, lug, 1.25a2.25" turnips, bushel, 20a25; ool es, bushel, bushel, 1.00a1.50; cranberries, bex, 2.00a2.65; strawberries, pint, 8a13; grapefruit, box, 1.75a2.75; oranges, nggnz.zau.so; tangerines, half box, 1.00a: Dairy Markets. Live poultry—Turkeys, hens, pound, 17a18; gobblers, 13a14; old hens, 15a16; old toms, 12; upmtm;:.ul; young chickens, 11al15; all r and thin, 8a9; old hens, 10al4; vl::hmn, 10a11; old roosters, 7a9; ducks, 9a12; geese, 10a15; Guinea fowls, each, 15a40; Dpigeons, pair, 15a20. Eggs—Receipts, 716 cases; hennery whites, dozen, 21a21%; nearby firsts, 15%;; Western firsts, 20a20%; Southern firsts, 20; current receipts, 16. Butter—Good to fancy, creamery, pound, 18a20; ladles, 14a15; store packed, 11a12; process butter, 17. NEW BOND ISSUES. NEW YORK, January 28 (P).—Ne ehmyims L Ll market this week totaled $4,040,000, against $15,050,000 in the previous week | sociaticn | have readjusted them | falling prices or | changes may take SEEK TRADE ATGS Industry in Determined Fight to Find Better Business . Methods. By the Assoclated Press. CHICAGO, January 28.—Convineed that hard times alone should not bar 3 | profits, leaders in the retail clothipg industry are stydying other and more controllable factors in their search for methods to brighten the economic out- look. Faulty merchandising, sluggish turn- over and poor management were @as- signed as chief causes for retail store failures by Willis O. Derby, director; of store management for the National As- of Retail Clothiers and Furnishers. : He reacned this conclusion, he after an analysis of methods of a- tion in representative stores thrggghe- out the country. —_ “The depression no longer is a a- mount cause of failure,” he said. “Hard times caught some of the couniry’s largest stores flat-footed with heavy in- ventories entirely out of line .with * | normal requirements, Many Make Fair Profit. ~ . “Many of these stores even now-have failed to remedy this condition. .. “But among men’s apparel storeg, to- | day there are many which are mafing a fair profit d=cpit> c: oas. They to meet, ew ready to maet whatever maglet place.” More inefficiency has been manifest by managements of larger stores. Mr. Derby said, than among smalleri.és- tablishments. Sa Between 60 and 70 per cent of mer- chandise normally sold in men's-ap- parel stores today, he said, may he:de- scribed as staple merchandise—goads which manufacturers have in stock-and which are obtainable on short notice, ad of buying in small quantigies and enjoying rapid turnovers on sueh merehandise, he declared, many sioges have bought heavily, with a sluggish turnover the almost inevitable result.. . “Buying staples beyond immed; needs,” Mr. Derby said, “is a heritage from the old days of slow transporta- tion—periods when manufacturing-poli- cles required large advance orders..,And in the earlier days quantity indyge- ments were made more often than they are today. g conditions and they Careful Buying. wo “Now we usually find that when tle manufacturer can afford to make a'00n- cession, the retailer can afford to.do without it. £:. e “Successful stores today are buwing carefully, turning their merchandise rapidly, ‘giving the public the benefit of every saving, watching net prefits rather than volume and securing enotigh business to keep them operating on''a pro.f.l‘;. basis—even though the profit .be Small» o BUSINESS IS TRYING T0 SOLVE PROBLENS Leaders in Trade and Industry. fi'a Devoting Efforts to Bringing- About Recovery. Special Dispatch to The Star. NEW YORK, January 28—Bustiess men are striving earnestly to solve thetr individual problems. This was empha- sized this week by interviews with business and industrial leaders, by earn- ing reports of corporations and by vde rious trade indices. The smaller volume of wholesale buyfl in this market was not unex- pected in view of the briskness which characterized purchases in the previous week. Mild weather hampered the sale g{l:wn:;r fl;x in retail stm;es. but ‘the elay D: merchandise display kept attention on seasonal wares. ' ‘Wholesale food prices continued to-de- cline and this was true also of bank clearings, according to Bradstreet’s. More lines of business in this city<re- ported sales equal to those of last"yéar than was the case a week ago. Coflec- tions also were better. Despite thede- cline in food prices there were more nlnkl in weekly price changes than-lgst weel 8 ‘The decrease of buyers in this mif?- ket during the week was to be expected in view of the heavy influx of purchas- ers in the preceding seven days. Feel- ing that style uncertainty had ‘heen removed, these buyers bought widely but not heavily. 3 (Copyright, 1933.) AR ) s E INTEREST RATES. ' By the Associated Press. i Average money rates remained -un- changed during the Week ended Jauu- ary 21 as the tend was noted by .tHe Commerce Department. In the table that follows the average rate for both classes of funds is given for comparable perhzd.s, as announced by the depart- ment: R Week ended January 21, time cll, 1.00. Previous week, time, :: call, 1.00. Same week last year, tithe, 3.75: call, 2.50. . First Mortgage Lo Lowest Rates of Interest and Comm&fé 7 WITH SAFETY IN 6% ha GUARANTY i FIRST MORTGAGES It you have money for investment. ¢ these safe high-yielding Pirst Mortgase Bonds, O B eominations a5 Low a5 §100 B Raynents 17 Desiredt U REAL ESTATE MORTGAGE GU. 'Y COl 1610 K Street Thomas J. Fisher & Compan; ~1ng. General Motors holds & 40 per cent in- terest in the former." STOCK SWINDLERS SENTENCED JACKSONVILLE, Fla., January 28 (®). —Sentences ranging from 7 to 175 years ‘were imposed on four who pleaded guilty to charges out of & re- cent $131,000 swindle of Almours Se- cutities, Inc., an Alfred I. du Pont con- Virginia business of g,a National Bene- W , D. C., which has been in receivership for some time, The new company will confine jts activities to this State, according to W. H. Card- well, Richmond attorney, one' of the Virginia receivers for the Washington concern. It will write both ordinary % | and industrial business. The officers were listed in the articles of incorpora- 65% | tion as B. T. Bradshaw, Richmond, president; H. A. M! Johns, Lynchburg, vice president; C. L. T Rich- mond, secretary. All three were for- merly connected with the National Benefit Life Insurance Co. of this State. CHICAGO STOCK MARKET CHICAGO, January 28 (P).—Follow- Y mgnflucompm‘exfimlflolhm- ‘Nat. un‘ MANAGEMENT and $41,052,000 & year ago. PROPERTY 79102 101% 1 k! 3% 14 | definitely conditioned upon acceptance 87 80% B0l 0w by the Taflroads of such requirement as '70 60% 60% 60% | may in individual cases be found neces- Zg sary to readfust top-heavy financial 1043% | structures through appropriate scaling 105, 108 | down of fixed charges.” This purpose 47% 47% | was reafirmed 37 37 t, “Where % lég& ment that TobPNJ6%s2028 7 ‘Tokio 5% s 61 . 9 45% Tokio EILt 6s°53.. 95 37% Untbn RI L&P 5s'57 2 104% UE&P 15t 6% 8A'54 4 104 9% QUk> T > Ger Cent Bk Ger Cen Bk Ger Cen Bk [ 2 & FHE - wBEaBnns ormen 55, Apartment House MANAGEMENT - ’I'HE return on an apanment“_ - house investment depends - primarily upon proper manage- ment—and for this we tender .. the services of our Property Management Department, with" its long and wide experience B “RER" 200! ogi Q E,wp»an ¥ oS mO 222828 :"2 » AN Leo Carr, who recently was returned re from New York, was sentenced to years in the Federal prison at Atlanta. Dave Chadwick, former city official of fimington, N. C., and John Diekson, who also was brought here from New ‘York, were sentenced to 10 years each, Kk 7 2. 6 Neioma Bank Tiere, were entenced to | }129%1 Cont . VaSWistcnbs's 3 40 7 years. Humble Of1 55'37.. hard Gillman, s fifth defendant, alrxxiy is serving a 24-year sentence at | FUNSATY 74841, 9, | actions in stocks on the Chicago Stock Raiford following his conviction in State : Exchange today: indictments out of alleged “"mnflnn :fn rec':'r%: of the Florida f.um: Bank and Almours Securities, i oo™ Grand Trunk 7s 40 Gt Brit&Ir 53%s°37 4. 2 Grt Nor'5sC'73... Grt Nor 6% B 50 | Ut Pwbs’s9 ww.. 2., Grt Nor gn 78°36.. Vienna 6s ‘52 Haiti 6s°53. : P' 3 S ot o rgg Brgo 5l S e o o B0 10 1 N EI01O L0 M o 9 s 1S LSS RD 4 DSBS D et D13 S DI A D B = 3 X1 £ o 20t LEEER Eonna® 2aeszand Shtwaiog ey 1o 15 § S gdaddadg ) ) A ez, Dttt High. Low. 2% 3 iy ] 2eozEN SRIRE g . 6 I Cent 4% °66.... 16 I11 CCStL&N 4%s. 16 I CCStL&N Es A.. 10 11 Steel db 4% 240, 2 Int Rap Trrf 65°66 23 Int Rap Tr6s’33... 1 Int Rap Tr 783! Int Cement bs *4! Int & Gt Nor 6853, Int& G Naj 6s°52.. Int Hydro El 68’44, Int Pap 6s°65...... Int Ry CA5s’72... Int Ry C A 63%5'47. Int TOI&T 4349 °39 AR TaSae Gur bt . clede B 393803 700850 Lautaro Nit 6s'Sd.. PO T - 13 a0 22 e 2 H £33 o o hrn SadoarBee P e N S5 i 3 » _BBTRHBEOM s R A E ;H %1 FEF : RATLROAD EARNINGS. NEW YORK, January 28 (#).—Balti- ore & Ohio Rallroad reported Decem- net operating income of $1,841,587, $813,328 for the same month of Gross was $9,863,736, against %u 580,833. rating income figures for other included: 3 13 E:’&; 28! B3 28 E5F fs 9 3 profit return—and all for a very nominal fee. B. F. SAUL CO. "925 15th St. N.W. .. 5 o) 52 9! 53 52% b 1103 108 108 .10 49% 48% 49% 2 68 58 88 189 89 i 4 22l Bs FEEFESE B Sunxoagnas 822 S3ELEEIN: 5 =Y E 255 L 952, B & £ 20" Fo gz: g . 3822 o) &, i WM RRRRRE . RBLEZIgeaRIRe 222838523, ores £ DIROTR T IN e 13 fot iz B DD ~ & WS £E5 S 53 ® & R 3R suairaSaamesirsnnos = a R ; a i IR ER2 e acais nnen ® 822, 238 ET ISR 287 8322e {5 825 3 o 2 % L ™ & F oo MORTGAGE LOANS i ShnnnEennnan

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