Evening Star Newspaper, February 11, 1933, Page 11

FINANCIAL. BONDS IRREGULAR IN QUIET TRADING Price Changes Small in Gov- ernment, Railroad and Foreign Group. BY CHARLES F. SPEARE. Bpecial Dispatch to The Star. NEW YORK, February 11.—In rail- road bonds and in United States Teas- there frregular trend g’nfi“: today and about the same general conditions in the foreign list. The market was quiet in anticipation of the holiday. Where there had been to A the Baltimore & Ohio group, which on Friday showed its highest price average for the year. Alleghany Corporation 58, Chicago & Northwestern 43;s, Missouri Pacific 55 and New York Central issues were also heavy. ‘The St. Paul divisional bonds of the Great Northern, which mature on May 1, added a fraction to a price that had , but is s‘tAu! several ints under par. Texas Pacific 5s rose l:e’lpolnt, ‘West Shore registered 4s lost the 3 points they gained Friday. There was considerable activity in Phillips Petroleum and Pure Oil 5Ys at better prices and also a firm tone in the Sinclair, Shell and Texas Co. issues. Philadelphia Reading Coal & and Studebaker 6s were firm. Inf tional Telephone & Tele- graph 5s were fractionally lower. trend in both the government | o and corporaticn obligations. Argentine 65 were steady. Brazilian 614s declined nearly a point and there was a drop of a point in Uruguay 6s following one of 3 points yesterday. French City bonds were heavy. Additional selling occurred in the Treasury lit and was mcst prominent in the discount bonds. Both the 3%s and 3s sold at the lowest prices of the COTTON PRICES SHOW GREATER STABILITY £ Southern Selling Subsides During B In the German list there pas an| D B BOND UNITED ON NEW Y STATES. (Sales are in $1,000.) High Lib 3%s 32-47... 55 . Saies. Bign. Low. Closs. Abitibi P&P 58°53. Allis-Chalm 58'37. Am F P 55 2030 Am Metal 5% Am Sm&Ref bs 47, Am Sug Ref 6 Am T&T deb bs Am T&T deb 5s 65, Am T&T 5%8°43.. Antioquia 78 '45. . .. Argent 65 61 May.. Argentine 6559 Ju Argentine Argentine 65 A '57. Argentine 63 B '58. Arm Dal 53s"43. .. Atchison gn 4s'95.. Atchison 438 '48. AtICLcl4s’52 Australia §s '5' Austrian 7s '43. B&O1st4s’48. &04%s’33 0 4%s'60 1st 5s 48, rf 55 D 2000, Orf6sC’95... B&OSwadv 5s'50. Batav Pet 4148’42, Belgium 68 '55 Belgium 63 5 Belgium 7s'56 Bell Tel Pa 5s Bell Tel Pa 53 C’60. Brazil CR Brazil 8s Bremen 7s '35 the Week and Market Displays | Biiyn Elev 6%s. a Better Tone. By the Assoclated Press. NEW YORK, February 11.—The de- cline to 5.85 for May contracts at the opening on Monday morning, making & loss of about 71 points from the high price of last month, evidently attracted an increased trade demand. This proved sufficient to absorb offerings and a better tone developed later in the week when buying was encouraged by a more favorable construction of the ‘Washington news, and reports of an improved demand for cotton goods. Very little Southern selling was in evidence, with offerings otherwise attributed chiefly to realizing, and the market sold up to 6.27 for May contracts during today's trading, or more than $2 per bale above the low of the week. The amended Smith plan for farm rellef as applied to the cotton situation attracted much attention and discussion in the local market. Its proposals, coupl aid to the farmer with dis- tribuf of rruent surplus supplies, evidently received a bullish interpreta- tion in some quarters, and part of the buying was attributed by local brokers to the possibility of its enactment, al- th in view of the short length of time before adjournment, some doubted its passage during the present session of Congress. The further developments of farm relief legislation generally will be closely studied, but, if anything, an impression that the domestic allotment bill as applied to cotton, at least, will hfluot enactment, has been more gen- Unfavorable weather both for pre- farm work and the movement roction. WINTER WHEAT CROP MAY PRODUCE SCARE Actual Condition of Grain Is Ex- pected to Become Known ‘Within 30 Days. By the Associated Press. CHICAGO, February 11.— Grain trade authorities say accurate knowl- Bklyn Man Bklyn Un G Buenos A R 6s BR &Pitts 438’67 Bush Ter con 58’55, Bush T Bldg 5s'60. Calif Packing 55’4l Canada 4s ‘60 . Can Nat 5s 69 July Can Nat 55 '69 Oct. Can Nat 557 Can Nor deb 7s "40. Can Pac db 4 Can Pac 43%s’46 Can Pac 435 '60 Cent Pac 1st 4s "4 Cent Pac 5s°60. .., Cert-tddb 5%s48. Ches Corp 55 ‘41. .. C&Ogen4%s'92, C&04%sB C&O con 5s 3 CB&Qgn 4s CB&Q I11 3% '4! CB&Q 11l 45 '49 Chi & Est Il 5551, Chi Grt West 48’59 CM & StP gn 4s'89. 1 C M StP&P 58'75., CM&StPadjbs.. Chi & NW gn 4s'87. Chi&NW 435 2037 Chi&NW 43%5C'37. 15 Chi & NW 4%5"49. 67 Chi & NW 63336, Chi RI&P gn 4588 Chi RI&P rf 45 '34. 16 * ChiRTI4%s'60..., CTH&SE in §s 60 Chi Un St 58 *44. .. Chi Un Sta 634 '63. C& W Ind cn 4s'52. Chile 6s'60. Chile 6 Chile 6: ‘hile 6 CI Chile 75 "42. Chile Cop db Chile Mtg Bk 6s '61 Cologne 65 '50 Colomb 6s ‘61 Ja Colomb 6s "61 Oc Colo & Sou 4%s Colo & Sou 43 s '80 Col Gas & E 53 "61. Com Inves 5%s°49. Con G NY 4%8'51. 14 Con G NY 5%s 45, Copenhag 4%s '63. Con Pwr Cuba 5% Czecho 8s'51. edge of the condition of United States | Del&Hud ref és ‘Winter wheat is now looked for in less than 30 days. result will largely depend whether a crop scare unequaled in recent years may be expected. e vital influence likely to affect scnsationally the course of the wheat market is an official report | March 9 estimating the extend of do- mestic farm reserve stocks of grain. Should the report confirm private esti- mates that rural reserves of wheat are smaller than generally expected, some traders assert the outcome would prove spectacular, Compared with a week ago, wheat this morning was %-1 cent higher, | corn %-% up, oats 1;-% advanced, | and provisions ranging from 2 cents decline to 10 cents gain. | Latest European advices indicates | oversea importers of wheat are unlikely | to abandon_a hand-to-mouth buying program until circumstances point to curtailment of liberal supplies. The | amount of wheat available for export | Gen Baking 5%s'40 2 in the four leading countries is figured 9! 981,000,000 bushels, world shipments | Ger Cent Bk 65°38. 35 9! 13,000,000 bushels, and world import | requirements for the season 700,000,000, | Ger Cen Bk 63’60 0 19 suggesting around 400,000,000 bushels | to be obtained by importers before the | Ger Cen Bk 7s°50.. 13 end of the crop year wou'd im- ply 581,000,000 bushels surplus in the | four chief exporting countries. | FEDERAL RESERVE RATIO. By the Associated Press. The ratio of total reserves of the 12 | regional banks to deposit and Federal | Reserve note liabilities combined showed a slight decrease during the week ended February 8. In the table that follows, | the ratio is given for comparable weeks, 3 Del P'w&Lt4%#'T1 13 Tt is added that on the | Denmark 4%s°'62.. 4 Denmark 5%s’55. Denmark 6s°42. D& RGren és'36. D&RG W 5s°55., D&RGr4%s’'36.. D&RG Wb5s'78.. Det Ed 4%s D '61.. 21 Det Edison rf 55°49 15 Det Edisen Fs'52. . Donner Stl 7s*42. Duquesne 43 A Dutch East I 65" Erie gen 4596 Erieref 5s Erferef 5s'75 Tinland 5%s ‘58 Finland 68 '45 Finland 7s '50 Fram Ind 7% French Gov 9.. French Gv 7%s "41. Gelsenk’hen 68 '34. Gen Th Eq 6s°40. .. Ger Cen Bk 63’60 J Ger Gen Elec §s°48 Ger Gen E17s'45. . Ger Gov 5%s " German Rep 78 Goodrich 63 "45. ... | Goodrich 6%s°47.. 17 Goodyr Rub 5857 .. Grand Trunk 6s ‘36 Grand Trunk 7s '40 Gt Brit&Ir 5%s Grt Nor gn 78 '36. Greek 6568 Hait! 635! Hudson Coa! 108 14 Lib 1st 438 32-47 10228 Lib 4th 4% s 33-38 103 14 9810 & &0 1 & Oref5s'95.... 10 &0 & - oo B R ONNO D IR D~ HRNOR O AD S 20 92% 92y 9 105% 105% 1 92 92 e e PPN - ... 65 9. 32 Leh Val cn 4s 2003 Leh Val cn 55 2003, p e Manhat Ry cn Market St 7s A 40, 6 13 Marsetlle 6 62 Midvale Stl 5: 35 Milan 63s ‘5. 27% 13% 3 4% 0% 86% 1084 104% oy —. Mo Pac 5518 Mo Pac5%s A ‘49.. Mobile-Ohio 5s '38. Nassau Elec 43 '51. Nat Dairy 5% s'¢8. Nat Steel bs ‘56 N J Power 463" = - AN E o aRe NUNAS ISR E A RR NN o Ao Crf5s 2013, N Y Cent db 6s'35. NYC&StL 4%s'78. NYC&SL5%4SA'T4. N Y Edison §s B'44 N Y EL H&P 45’49 NY NH&H 45'56... NY NH&H 4s'57.... NY NH&H 4%s'67 NP RTNNARDI WM TN Oh N OV © 1 T 00 3 s 2919 00 S 01 & O 1 08 1 59 00 5 6 4 2 9 NY W&B 4% 546 Nor & Wn cn 4s North £m Co 5s '61 Nor Am Ed 5s A'57. Nor Am Ed 55 C'69. N Ger Lloyd 6s'47.. Nor Pac gn 3s 2047, Nor Pac 45’97, .. Nor Pacr{ 6s 2047, Nor 8t Pw 55 A "41. Norway 5s'63. Norway 53s’65. Norway 6s’43... Norway 6s'44. Norway 6s°52. Ohie Pub T8 '46.. Orient Dev § 58 Orient Dev 6s'53. . Owens 111 G1 55 '39. Pac G&E 5s'42. ..., Pan Am Pet 6s°4y.. Paramount 6s "47 Param-Pub 6% Paris Or 5%s 6 Penn 4%s D '81 Penn gn 4%3'65. Penn ¢%sD'T0 Penn 4% 5’63 Penn 55 '64. . Penn gen 5568 Penn 64536 Penn P&L 4%s ‘81 Peop Gas ref 55 '47. Pere M 18t 53 '56... Peru 658 Phila Co 58 '6' Phila Blec 437 Phila & Read 63 '49 Philippine R 4s'37. Phillip Pet 5% 8°39 Pirelli 7s '52. . T L L UL LTS o S 5 30 P& WV 4%sC'60. Poland 8s '50. Port Gn El 4%s'40 Porto Alegre §5'61. Por RAm T 6542 Pos Tel & C55'53. . Press 8t] Car §s'33 Prussia 6s 52 Prussia 6% '51 7 103% 101% Pub SvG 4%s'67 Pure Oll 5%s Pure Ofl %8 40. 1 Queensiand 6s 47 Radlo-K-Or 6841 4 Read Jer Cn 456 3 Rem Arms 65 A '37. Rem R 5% 8A'4Tww Rhinelbe U 7s 46, 3 2 1 5 Public Serv 4s ‘71 5 . 6 5 4 113% 113% L] 2 68 673 Rich O11 Cal 6s *4: R Gr Do Sul 8s"46. RIAr&L 4%s'34. Rome 6%s°52 Royal Dutch 48 '45. Rumania 7s 59 StL IM R&G 48'33.. St L&SF 48 A '50., StL&SF 448’78, StL SF 4%s'78at st St P Un Dep 5s '72. Sao Pau 7840 Saxon 7s * Serbs-Cr-S1 PORoT 2md 2ERT . & BRL S paned FEFRFFRRRRE 19 t Shell U Ofl 58 4! 8 Shell U O 5s49ww, Sinc Ol 6%s B'38. Sinc Ofl 75 A '37. ... Skelly Ofl 548 Smith(AO)6%s "33 Solvay Am 58 '42. .’ Sou Bell T&T 5s *41 Sou Pac rf 45 '56... % Sou Pac 43%s >4 Sou P&Or 4143A'TT Sou RY £n 45 A'56. Sou Ry 58°94. ... Sou Ry 6348 56. ... SW Be!l T 55 A '54. StOILNJ5s 46..., StOIINY 4%s'51. H Studebaker 65 '42.., 4 Sweden G354 Swiss 5345 ‘46, Taiwan E P 5%s'71 Tex Corp cv § Tex & P 5sC™ Tex & Pac 53 D Third Av rf 4 Third Av adj . Tob P NJ 6148 2022 Tokio 5% " Tokio El Lt 65 '53. . Union Bl L&P 5&'57 Un Pac 1st 43°47.. Un Pac 48’68 . Un Pac rf 43 2008 Un Pac 4%s'67 1 it Drug 6s '53. 5 S Rubber 53 47 7 o UnSt W 6%s A’ UnStW6k%sA'S 5 Uruguay 6s '60 Uruguay 6s 64 3 597 7 7% | Util Pw 53 '59 w Util Pow 5%s "47 Vanadium St 55°41. Vienna 6s°'52. . 1 Va Ry 1stGs A '62, Wabash 6s B'76 Wabash 51487 Walworth 6s A Warn Br Pic 6s'39. West E1db 5s '44 West Md 1st 45 '52. West Pac 5s A "4 (] STOCK EXCHAN Received by Private Wire Direct to The Star Office. DROP IN MERCURY MAY AID COAL SALE Industry Watches Possible Effect on Prices as De- mand Improves. Special Dispatch to The Star. NEW YORK, February 11.—Will the present country-wide cold wave im- prove coal prices? The trade today conceded it would reduce retail in- ventories. The three storm waves this Winter preceding the present one en- livened domestic coal demand momen- tarily, but failed to lift prices—so the coal trade is making no predictions. ‘The general business slump, along with many advances in power ma- chinery, naturally curtailed coal de- mand from industries. Doctors here and elsewhere concede that underheat- ing of homes this Winter brought about the epidemic of influenza. ~Western farmers find corn & cheaper fuel than coal. Meanwhile the Ottawa trade pact has virtually shut out American coal from Canada. Prices Shading. Along with the lessened- domestic and industrial demand there has de- veloped a practice of buying coal solely on a price basis. Shading of circular price lists has aggravated this situa- tion. In the meantime, mine wages in many flelds are being revised down- ward. Just now the anthracite wage arbitrators are trying to formulate some sort of report on a mnew wage scale, which prqbably will become ef- fective at the start of the new coal year or April 1 next. Generally high temperatures in Jan- uary cut domestic anthracite output 1,200,000 tons and bituminous coal pro- duction 4,000,000 tons. Production has been steadily declining. Estimated 1932 anthracite output of 49,000,000 tons contrasts with 59,000,000 in 1931 and 73,000,000 in 1930. Soft coal output last year approximated 350,000,000 tons, against 878,110,000 in 1931 and 467,- 526,000 in 1930. The Ottawa tariff pact had two im- portant effects on the world coal trade. It banned Soviet coal, thereby in- creasing Welsh imports to Canada, and virtually excluded American coal. In- deed, in the local cargo market it was said today that a ship probably would not know its way from Hampton Roads up the coast and down ‘the St. Law- rence River. Last year's loadings at Hampton Roads were estimated at 16,- 000,000 tons, against 20,000,000 in 1931 and 22,000,000 in 1930. Output Reduced. Between lessened exports and dimin- ished domestic demand all mines have been hard hit. Malcolm Ross, author of “Machine Age in the Hills,” just back from months of study in the Ken- tucky and West Virginia coal fields, said that more mines are closing in West Virginia than a year ago and out- put there is much reduced. Loaders are recelving 16 to 30 cents a ton and are glad to average a dollar a day. All the miners are in debt to the coal companies for rent and supplies and many mining companies are in straitened circumstances. Neither min- ers nor mine owners look for a strike in the soft coal flelds this-next coal year. Mr. Ross, in an effort to help miners and owners, would adopt the English practice started in 1920 for five years, and since renewed, of levying a penny a ton tax on all coal mined. This would raise $3,000,000 a year, he points out, and might be the beginning of a movement _to rehabilitate surplus miners and further the “esearch in coal. Half a penny a ton would go to the miners and a half penny to the mine owners. ‘Wasteful mining methods in the United States due to competition re- sult in 150,000,000 tons of minable bituminous coal being left underground yearly, or a loss as great as the entire German post-war bituminous coal pro- duction, according to a report to the President's Research Committee on Social Trends made public today. “After field examination of hundreds of mines in all major Eastern districts,” says the report, “engineers of the United States Coal Commission placed the average loss in mining bituminous coal at 35 per cent, of which 15 per cent is classed as unavoidable and 20 per cent avoidable under present known practice.” Improvement In Demand. Pittsburgh, Cleveland and Detroit have increased coal takings in recent weeks. Demand in Chicago and New York improved the last several dagys. Thus far this year, however, coal prices continue a downward trend de- spite the fact that total stocks Janu- 1, last were 16.4 per cent less than on January 1, 1932, (Copyright, 1933.) WHOLESALE FOOD PRICE LOWER THAN IN 1920 Special Dispatch to The Btar. NEW YORK, February 11.—Belleve it or not, the fact is that wholesale food prices this week have been 70 per cent lower than in the same period in 1920. People then were having their salaries and their incomes reduced and there was considerable unemployment, but there was no compensation, as at present, in a reduced cost of living. Coming to a later period we find that wholesale food prices today are 57 per cent under those in the first week of February, 1929. They are nearly 53 per cent less than at this date in 1930, 35 per cent under those in 1931, and about 15 per cent below those a year ago. ‘This information may be ob- tained from an analysis of figures in the index numbers compiled each week by Bradstreet’s. CHICAGO STOCK MARKET By the Associated Press. CHICAGO, February 11.—Following is the complete official list of transac- tions in stocks on the Chicago Stock Exchange today: 300 Grigshy-Grun ) Hall Print IN NARROW RANGE Leading Issues Show Firmer Tendency After Open- ing Losses. BY JOHN A. CRONE. Special Dispatch to The Star. . NEW YORK, February 11.—The Curb Exchange firmed after opening irregu- larly today, but trading was dull Electric Bond & Share regained most of its initial fractional loss. Standard Oil of Indiana slightly improved. Cities Service continued heavy. Niagara-Hud- son Power and American Gas & Elec- tric were not much changed. Specific corporate news rather than general deVelogmenu proved most abun- dant during the session. Individual is- sues, however, reacted variously to fa- vorable or unfavorable items. Common- wealth Edison, for instance, opened off a point just rrter Chicago dispatches told of the cold weather increasing the company’s electric output. Cord Corporation was bid up rapidly as the company announced the initial dividend payment of 10 cents a share. The official Ford model introduction failed to stimulate interest in the vari- ous Ford companies, perhaps partly be- cause Berlin.cables told of poor of German Ford, which is a subsidiary of Ford Motor Ltd. The only news in the textile trades was & report that Amoskeg Manufac- turing Co. had a deficit arcund $1,200,- 000 in 1932, against $782,688 in 1931. Interstate Hosiery Mills reported net fnmflstsm 1932 of $80,520, against $65,366 1931. The reduction in cigarette prices announced by American Tobacco Co. was immediately followed by & cut in retail quotations by Great Atlantic & Pacific Tea. Glen Alden Coal was a strong spot in the fuel issues, though some of the natural gas shares, like Lone Star and United Gas, were firm. Betterment in the oil issues was a fea- ture of dealings in the second hour. PRI 0 AUTO OUTPUT IMPROVES. NEW YORK, February 11 (#).—Re- National Automobile Chamber of Com- merce reports that January motor ve- hicle production by its members ex- ceeded that of the corresponding month a year ago by 5 per cent, the first com- parative rise since August, 1931. Last month’s output is estimated at 115915 cars and trucks, 38 per cent above the December total and larger than produc- tion for any, month of 1932 with the exceptions of March and April. The figures do not include Ford operations. BONDS ON THE CURB MARKET. Salesin DOMESTIC BONDS. thousands. Hi 27 Alabam Pow_ 4%%s 07 12 Aluminum Co 58 '52 95 1Am El Pow 6s A '57 2 10 Amer G&E bs 2028 o Y 9. ER 3 S Tire bs '42 isk Rub 5ias '31 cod orida P&L 5s '54. . § Gatineau Bs ‘56 neau 27 Gen Mot ( 2a; 83% F SRERELLR . = i 25328T8eERRss e SRR 23 By [y s 3 4 8.0t 4135 B 6 Rub 5'as_'36, Rubber 7. SaSS8RER! S 1952 Donce! BE R EHEEO00000 EEeeeae cmoosansaS S £23IAZI2 & R 5 Intern 4 Inter: SE52SI3! 553 BoeEaaaa & SEEETE g g 80 80% 80%. 8 61 94 93! 4 B ‘47 104);: mui! 100% 1. 723, 723, 723 83 40 881 AVi0T 8RT BB 88 45 101% 101% 1018 F, 7% 90% 96 101 * 101 ° 101 881 881y 88Y% PrEORCas LIS TR R 87" 87 B6ta 148 56 56 154 B0% B89 8Y 3 o8 97% 97% 50 )0(5"’ 10615 10615 C 106 9014 0% 0% 0 B 84 i 90 5 {4 £220y, 1 0 60 10 52 10 55 % 65 s_ 54 103% 1034 10334 g 1073 107% Sw O ] RIS - 301 i 00 b 0 e it £ mmmnm 3 3 &, o 9912 Dhlz 99ia 10175 1002 101 % 14 14 1 56% bb% Do% 5% 55 55% 55%2 B5% 55%a 78, 785 1047 104% 104 12 104% I a 2uons 75 Stock and Sale— Dividend Rate. Add 00. High. Acme Wirevte.... 1 Alm;cokm PI(3). 808 2 Asso Gas& E war. . Asso Gas&Elec (A) Asso Tel Utilities. ., . . Atlas Util war. Atlas Util pf A (3). Auto Voting Mach, Axton Fish A 3.20.. Benef Ind Loan 1% Blue Ridge........ Blue Ridge ¢ pf al.. Brazil Trac & Lt. ., Brillo Mg (60c)... PLU PR L Comstock Tunnel Cont Securiti Cord Corp. Cresson C Crown Cork Intl A. Cuneo Press (1.20). Darby Petroleum Deere & Co. .. De Forest Radio... East G & Fuel Asso Eastr G&F pf (6) Eisler Elec Corp. E1 Bd & Share pf 5. Elec P & L op war. El Sharehold pf (6) Federal Baking. . Frst Nt S1stpt7 Flintkote (A)...... Ford Motor Can A.. Ford Motor Ltd, ... General Alloys..... 1 General Aviation., 1 Gen Pub Sertice pt 108 Glen Alden Coal. 2 Goldman Sachs 1 Great A&PT pf (7) 40s GulfOflof Pa..... & Hollinger G1d 180¢c. 13 Hudson Bay Min... 1 3% INMP&LPL(6).... 50s 264 26 ImpOfiLtdcousdc 9 T4 74 a | Midiand Roy cv pt. % | Mount & Guit....., w ] NYTelpt (6%)... 258 FINANCIAL. . Closs. 10% 1004 10%| s T%- W W Inters Pwr(Del)pf. 508 9% 9% 9%/ Lake Shore M (2).. 3215 324 32 Lone Star G bé4c. . : 4 7 7 Mass Util Asso.... 2 5 5 5 Mid Sta Pet vtc A.. kil Niagara Hud P (1). & North Ind P S pf 7.. Novadel Agne (5).. Ohio Copper. . . Ohifo Ol em pt(6).. PacG&E 1stpf 1% Pan Am Alrways Parke Davis (1) Penroad Corp. Phil Morris A1 Phoenix Secur p Ploneer Gold 24c Pitney Bow P b4 Pub Util HId war.. 20 Puget Sd P&L$5 pf 1008 Republic Gas...... 4 Safety Car H& Lt.. 758 21% .;u::xc”ek Consol.." & .% L) el Ind all cfs(5%) 1 Silica Gel ot . . = e RO RO b et i 1 fouth Penn O11 (1). 2 Stand Oil Ind (1).. 14 Stand Oil Ky 1.2 7 Swift & Co 1 Y ) Swiss Amer .. 608 28% Tech Hughes (60c) 5 Utd Corp war..... 1 Utd Dry Dock..... 2 United Founders 2 1 3 1 214 10% 2% United Gas. .. Unit Lt&Pwr (A). Unit Lt & Pwr pf.. U S Finfshing. UtlP&Lt... 2 Wright Harg t20e. 6 44 Dividend rates in dollars based guarterly or _semi-annual payment. ";; ra. iPlus 4% i 3 e in cash or stock. yasie. I € Adfustment dividend. : File O ln sock. by in stock. m Plus 3% In'stock. ' Plus 8c, In stock! D Paid last year—no resulas rate, 16% OIL TRADE APPROVES CONSERVATION PLANS Petrolenm Institute Adopts Policy of Co-operation With Various State Proration Proposals. By the Associated Press. NEW YORK, February 11.—New amity and hopefulness has been in- stilled into the Nation’s ofl industry following upon the enunciation of con- servation principles by the American Petroleum Institute's board of direc- tors, in official high in the industry said. These . principles, adopted unani- mously by some 30 or more major oil companies west NEW MACHINES INCREASE KNITWEAR PRODUCTION Special Dispatch to The Star. NEW YORK, February 11.—Thq - est machines and products g ly expanding knitwear ind: on, discussed at the association’s annual convention b:- hleld concurrently wi:.h the show. 16 over the number employed as re- cently as three years ago. This makes possible the ction of 50 square yards of fabric an hour. One persons can te four machines. Ten years ago the best machine luced only one-sixth of thll.mam of fabric. DIVIDENDS ANNOUNCED NEW YORK, February 11 (#).— Company. " record. Bucyrus-Erie pf ....50c .. Apr. 1 Initial, Am Bus 3 .. Mar. AR Bibertytofncgs - -0 - Mar. 1 ©f Amer new....10c .. Feb. 20 sular. $4 8 Feb. 3 % Peb. 28 Peb. 15 Re Colum Nat Life Ins. Gen Ital Edis Elec. . nd Wat Co 5% bt .$1.25 @ Aor. Bo o pf 20 N ¥shipblde b Ogilvie Plour Mi Relfanes Grifi pt SUCR -3 in .’ &) Rubenstein (Helens) 129 ik ®3 Sons > 130000010 BRBAS 0550 be | gain, Peb. 15 | Leghorns, KENTUCKY TOBACCO BRINGS $18,278,400 State Report Shows Average Price for Product Was $10.74 Per Hundred, By the Assoclated Press. FRANKFORT, Ky., Pebruary 11— Kentucky ware houses sold 170,142,312 pounds of tobacco of all types during January for $18,278,400.46, or an aver- age of $10.74 per hundred pounds, Eugene Flowers, commissioner of agri- culture, reported today. During the same month of 1932 the ware houses sold 205,689,501 % | 11% pounds of | | b Payable in | fPlus 6% | hPlus 1% | 3 A1 BANKS OF BRITAIN IN SOUND POSITION Larger Institutions Have Maintained Good Earnings in Last Few Years. BY CHAS. P. SHAEFFER, Associated Press Business Writer. Latest advices in Washington on earnings of English banking institutions indicate the depression has had but Mt= tle affect on dividend distributions. Lloyds Bank, which was the first of the “Big Five” to ask shareholders ta accept dividends commensurate with a | lower rate of earnings, by reducing its final dividend for the year 1930 from the previously usual rate of 16 2-3 per cent to 13 1-3 per cent per annum..is | the first of them to propose a further cut in respect of the last year. With a final payment of 5 1-3 per cent,it reduced its dividend payments to 12 per cent per annum for 1932. Barclays Bank, which has paid 14 per cent per annum throughout the sl announced the maintenance of this during 1932, while the Midland Bank likewise repeated its 1931 distribution of 16 per cent. The National Provia- cial Bank cut its annual payment to 15 per cent during the year, as against’a former rate of 16 per cent. Advices are lacking on dividend action by West= minsters, the remaining member of the quintet. On a three-year comparison, the de- 1% | clines in profits for Barclays and the 1% | Midland were approximately one-third, 3% | while those for Lloyds were nearly 40 per cent. The discrepancy in profits % | was attributable to some extent to & 1% | difference of method in providing for 41 | bad and doubtful debts. The Midland certainly, and Barclays presumably, have written off these items agaimst inner reserves. Financial authorities declare that on more adversely u%’yzcbed by trade depres- sion and low money rates than any other of the larger joint stock banks, They declare Lloyds is also actl dependently of Barc! @ year ago to write vestment to market values. RETAIL TRADE GAINS-- NOTED BY REVIEWS Sharp Increase in Sales Is Re- flected by Greater Activity in Wholesale Markets. By the Associated Press. NEW YORK, Februa: improvement in tobacco of all types for $15,897,475.83, | were or A:l average of $7.73 per hundred Ppounds. The general average for Jam sales fefle off from December, :b”e’n 78,029,705 pounds of leaf of all types were sold for $10,142,985, or an aver- age of $12.99 per hundred. The sales for January included 143,- égfi.g%'fl filmdl of burley for ll'!’,l“.- hundred pounds. In January of 1932, 170,701,400 ds of burl for tu.lu,m. or an a - '?!‘u.%lg December, 73,631,805 pounds of &Nl"lzly’ 5bl’0|lll ht $9,940,424.68, an average COFFEE AND TIN PRICES HIGHER THAN A YEAR AGO By the Associated Press. NEW YORK, February 11.—While the general commodity price level remains well under a year ago, at least two Eromlnenc items in the organized mar- ets of New York and London entered the new year well above the pre- vailing 12 months earlier. e items *"Tin g en oo n selling above 23 c a pound, or about a cent higher '.h.nm\t . Coffee, the Rio No. 7 con- tract, has been well above 8 cents a pound, against about 7 a year ago, and Santos has shown a somewhat smaller 'I"::rn:nl level of commodities, as meas! by the Annalist index, how- ever, is ymore than 20 per cent under last year. Baltimore Markets Special Dispatch to The Star. .00; beets, per haif crate, 1.00a1.25; cabbage, hlm;e"r, I,Mll.ltoe; of | carrots, bushel, 30a50; caulifiower, crate, 1.00a1.30; celery, crate, 1.60a2.75; cu- cumbers, bushel, 2.00a4.50; eggplants, crate, 150a3.50; lettuce, crate, 2.75a 3.25; onions, Eer 100 pounds, 75a90; lima beans, bushel, 3.50a4.00; peas, bushel, 2.00a2.75; peppers, bushel, 50a 1.35; spinach, bushel, 65a80; tomatoes, lug, 1.2522.00; squash, bushel, 1.00a1.25; turnips, basket, 20a25; apples, bushel, cranberries, box, 2.00a2.65; strawberries, pint, 8al1; grapefruit, box, 1.7582.50; oranges, box, 1.75a3.25; tan- gerines, half box, 1.25a1.50. Dairy Markets. Live poultry—Turkeys, hens, pound, 18a20; gobblers, 14a15; old hens, K1,03117: old toms, 12a13; capons, 15a20; young chickens, 12a16; all kinds, poor and thin, 9a10; broilers, 16a20; old hens, 10al4; ducks, 13014, ‘goese, 0815 puinca fow » 12a14; geese, 10al15; guinea fowl, each, 25a50; pigeons, pair, 15a20. Eggs—Receipts, 1,149 cases; current receipts, 15a1515, Butter—Good fancy, to pound, 19a21; ladles, 14al5; stor ed, 10; process butter, 16a17. PROPERTY Apartment House the blizzard swept e tem oc- ‘c.medmnmmnm.mm Increased buying was have extended “even to men’s wholesale food prices, a ness failures and a gain commodity price index. Peanut Exports Gain. By the Associated Press. Exports of peanuts from the United States in 1932 were nearly 400 per greater in volume than in the previous year. A compilation of Commerce Dej The department poinf 1932, for the first time in many pete suc uf of India, China and AK%:‘.‘J« the Ey* been purchaser of the American product for several years. cipal foreign uses .of One of the pi anuts is the ufacture of oils used ind 1 processes. First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & -y The (lwommem'al National Bank . 14th and G Streets Complete Banking Service MANAGEMENT MANAGEMENT 4 TRANSFER the responsi- bilities and details in con- West Un cl tr 5s West Union 5s'51. West Union 58 "60. West Un 6145 '36.. Westphalia 6s '53. . WEOb%s"3T ww, Wil & Co 1st 68 41, Wis Cent Tm 4: | b agpoun e Federal Reserve | Hud & M rf 5867, . :«.\1: ey m | Humble O11 55°37... ruary 8...65.3 percent | P Bame week last year .67.6 per cent Market Averages nection with the management By the Assoclated Press. of your apartment house prop- i e A= erties to our Property Manage- oty .. T TR0 ; ment Department. It will ren- Week ago ... 485 281 820 31 \ der personal service to the end that your property’s earning ca- pacity may be increased and its overhead expenses decreased. You will find it an efficient newlce,‘ ice, rendered for a small ee. B. F. SAUL CO. 925 15th St. N.W. NAv1 2100 103% 106% 621 49% ) Lindsay 200 Nunn | 111 Cent el tr 4553, 111 Cent 4% "66. i | 111 Cent 634536 Gold Stocks Gain. | T} o o NEW YORK, February 11 (#).—The | 1n¢ Rap Trrf country’s gold stocks had a net fAin | ine Rap Tr 6s of $1,649,602 yosterday. A reduction through an increase of $967,400 in for- | [ne & Gt N 55 B '56. eign earmarkings was more than off- | Int Hydro El 68'44. 10 set by imports of $967,500 from Chile, | Int Pap 6s ‘55 $773,500 from England and $876,000 | Int Tel&T 4% from China, the latter shipment being | Int T & T 4%8'52 Teceived at San Prancisco. Int T& T 68 '56 Announcement that the Bank of | Italy 7s'61.. England had bought $14,582,000 of gold | Italy Pub 7s ‘6 i at par of exchange led to me‘:;sumv; Irish Free St5s'60 5 tion here that this represented mos! 4 of the $15,999.900 in gold placed under | JaPancss SH218%- - 8 ~ foreign earmark here yesterday. If s0, | ' s this was the fourth recent purchase of | Kan C F S&M 4s'3¢ 2 52 gold by the British bank, making an |KanCP&L 4%s'61 2 104% 1041 aggregate of about $50,000.000 acquired 0. 7 €0 5% since eazly January. Thus the bank has | Kan City Ter recovered all but some $45,0),000 of the | Kan G&E 4% Karstadt 65 ‘43 m g&c:bn kel a2 Kresge Found 65’36 CIGARETTE PRICES REDUCED. NEW YORK, &gbruary 11 ()—The American Tobacco Co. today reduced the wholesale price of its leading brand of cigarettes to $5.50 a thousand from $6 previously. The cut is effective im- mediatly. ol T R COTTONSEED REPORT. By the Assoclated Press. Cottonseed crushed in the six-month period, August 1 to January 31, was re- ported today by the Census Bureau to have totaled 3,009,117 tons, compared | with 3,540,727 tons for the correspond- i ing period a year ago, and cottonseed | on hand at mills January 31 totaled 1,211,440 tons, compared with 1,190,059 tons a year ago, 100 Walgreen 10 Ward Mon st A 3 Wes Tex U bs Stock sales today, A5 2 Wise P&L bs B FOREIGN 7 Buen Alr Pro 7s 3 5000 Chic Rys b: Bond sales toda! BALTIMORE STOCKS, Speclal Dispatch to The Star. BALTIMORE, February 11.— FSE -3 £ £ Ze fs e iom SN Sa les. STOCKS. 110 Arundel Corporation .. 2935405322288 geaeagaaa F@IAGLRENIII3 e siaatetutt SB2RZSIRIRY PSS W = 28%3ue35uszae Lokt Ta0 g8gezs32nss HE L £ g & 8 Doissise a5, 3. MORTGAGE , LOANS n—New. 2000 United Rt wi—When issued,