Evening Star Newspaper, March 18, 1933, Page 13

FINANCIAL. BONDS IRREGULAR AT SHORT SESSION ¥. S. Treasury Group Adds to Gains Scored Early This Week. BY CHARLES F. SPEARE. Bpecial Dispatch to The Star. NEW YORK, March 18.—The bond market today had a spotty appearance. ‘There were numerous declines in issues that had been run up sharply in the ‘week, some advances in others that had lagged behind, less change in the here- tofore depressed German loans and further gains in most members of the United States Treasury group. ‘The Government list has been the great feature of the week and its action has done more than any other one in- fluence to maintain the confidence of the investing public. Compared with the low of the month, six of the most active long-term issues now show an mdvance averaging nearly 434 points. At their high price today the Treas- ury 4%s have recovered about 6 points and the 4s and 3%s, 5 points. reasury notes running from 9 months to five years have rallied sharply, with ?rlcticnlly all of them now quoted rom par to a substantial premium. ‘The Treasury balance, which was down to $104,000,000 this week, is now nearly $450,000,000. Early prices were lower in corpora- tion bonds, with some recovery before the closing. Among the weakest issues were Western Union 5s, which lost 1 to 132 points: Studebaker 6s, which broke below 30 for the first time this year; | National Dairy Products 5%s, off 2 points, and the same decline in Phila- delphia Co. 5s; Canadian Railway 418 and Canadian Pacific 4s, each off a int; Northern Pacific 6s, down 1%; nion Pacific 4125, a point lower, and American Water Works 6s down 11 points. Atchison general 4s and Union Pacific Airst 4s were heavy at the start, but flater showed more firmness. Missouri Pacific issues were little affected by the | yeport that the maturity of the St. Jouis, Iron Mountain & Southern 4s would be met with a payment of 25 per cent in cash, while the parent company 5'5s might be replaced with a pre- ferred stock. Southern Pacific 4%s were heavy following the application to the Reconstruction Finance Corporation to borrow $22,000,000 to meet maturing pbligations, German government loans were quoted around Friday's closing prices. French 71zs were fractionally lower and Italian 7s higher. BAKER FOR ‘DICTATOR’ IN TIMES OF STRESS Urges Chanée: in Form of Gov- ernment to Enable President to Speed Legislation. By the Assoctated Press. CLEVELAND, March 18.—Changes in the American form of government to maie it possible for the administra- tion to assume responsible powers in time of crisis, such as Presdent Roose- velt has been able to do, were advo- cated by Newton D. Baker last night. The former Secretary of War said he thought that “in the last few days we kave had some excellent illustrations of the point I am trying to make.” ! Referring to the banking difficulties on the eve of President Roosevelt’s in- auguration, he said that “if an attempt | had becn made to deal with that situa- | tion under laws as they then existed, | cr to make new laws in the way usually followed, we would have had a debate in the Senate on the proposed new laws probably lasting two or three sessions | of the Senate. | “Fortunately, the administration, by | adopting at once a bold and confident course, captured the imagination of the country and the new President was able | to secure the enactment of laws from the Congress within the space of & few days which, in the normal course of events, could not have been expected to be enacted within a year or two.” Former President Hoover, Baker said, was “an entirely high-minded and de- voted President, but unassisted by any dramatic change, was unable to secure enough co-operative directness in the ‘Government to do more than pass pai- liatives and stop-gaps.” New State Financing. NEW YORK, March 18 (&) —State &nd municipal bond financing con- tinues light, with a total of only $2,- 236,748 in new offerings scheduled for next week, says the Daily Bond Buyer. Volume for the past week amounted to $7,288,404. DIVIDENDS .ANNOUNCED NEW YORK, March 18 (#).— « Reduced. Hidrs. of record. Mar.31 Mar.26 31 Mar35 | . Mar.20 Dec. 21 e- Pay- Company. Rate. Tiod. able. Cameron Mach 8% T e 1 1 2 31 [1bc .. Apr. 1 .60c 8 Jan. 3 Co (Phil) 18 @ Agr. 1 i Rich Ice Cr Co' Inc.35c Q Feb. Bayers & Scoville Co..S1 Q Apr. Accumulated. Ph Jones Corp pr.$3.50 .. Mar.14 Ext! Bell View Ofl Synd..$2 Stoek, Encorp Investors ..2'2% .. Apr. 20 Omitted. . Apr. 1 Com Rate. Pt Boston Sand & Gravel pf 87 L yheeler ot - n; 'd. 3% ¢ Union Tr ColgferD)sl.dl o Columbia (Wash D C) Regular. $2 Ma: Mar.21 Mar.18 1 Mar21 Mar3L Mar 21 Mar.23 Mar.20 Mar.20 co N J. 3 5 $1 B O Beil View Ofl Syd. Burco Inc 6% Dt Ch_!!hlm Mfg Co ( Do pf .. Collateral Loan Co. Danahy-Faxon Strs. Dom & Anglo Invest Lid 5% D! $ Early & Daniel Co_ | ChiRI 43560 BONDS UNITED STATES. (Sales are in $1.000.) Low. Close. Lih3%s32-47... 10120 10116 101 l-l Lib 1st43(s 32-47. 10128 10124 10124 Lib 4th 4% s 33- l::l 10180 102 99 12 US3%sM41-43. 10123 10110 10112 US3%sJ40-43.. 1021 10124 10124 10129 10110 10112 1034 10220 108 . 1061 104 25 10430 109 % U S 48 44-54 US4Ks47- Am Beet Sug 68'35. ‘Am Chain db 6s°33. Am Metal 6%5°34. | Am Sm&Ret 547 Am Wat Wks AmWW&E Am Wr Pap 65°47... Argentine 53362, Argent 63’61 May. Argentine 65’59 Ju Argentine 6s ‘59 Oc Arm & Co 4%8°39. Arm Del 5%s'43. .. Atchison gn 4595, ‘Atchison 4%s "4 AtIC L 1st 4352 Atl Gulf&WI 58'59. Atl Ref db 68'37. Australia 4%5'56 Australia 5555 Australia 55 &7 B&O 1st 45'48. B&O 4%s='60 B&O1st5s B & Oref 55°95. B&Orf5sD2000. B&Orf6sC'95... B &O Swdvbss'50. Belgium 6s ‘5! Belgium 614549, Belgium 7s Belgium 7s '56. Bell Tel Pa 58 C'60. Berlin Cy El 6555, Beth Stl pm 55 '36.. Beth Stlrf 55°42. Bolivia 75 '69 Bolivia 85'47. . Bordeaux 68 '34 Brazil 6%s '2 Brazil 6345 '27-'5 BrazllCR 7s'52. Brazil 8s'41. Bremen 7s'35. . Bklyn Elev 6 Bklyn Man 65 A 68 Bklyn Un Gas 5s'50 Budapest 6s '62 Buenos A R 6s°61. . BR&Pitts 41458 '57 Bush Ter con 6855, Bush T Bldg 5s'60.. Calit Packing 55'40 Canada 4s'60 Canada 414s'36 Canada bs '52 Can Nat Ry 4% Can Nat Ry 4%5'63 Can Nat Ry 4% 8'55 Can Nat 5869 July Can Nor db 63 5'46 Can Nor deb 78 '4 Can Pac deb 4s Can Pac 415 " Can Pac 4356 Can Pac 5s '54. Cent Ga cn 5s Cent Pac 1st 4s Cent Pac 55 60. Cert-td db 5% s Ches Corp 5s ‘47 2 - A DA D RO AR 0N N EeBa5Ruralal 1910 15 €0 1t 10 o bt et b 1 35% 83 - PRI PET 13 - o o SV R0 N ) N 50 3 00 20 00 9 0O O 1 S TN D Or i O 71 CB&Q I 45°49. Chi Grt West 48'59. C M StP&P 58 CM&StP ad 55 2000 Chi&NW gn 335’87 Chi & NW gn 4887, Chi&NW 43%sC'37. Chi & NW 4%,8°49. Chi&NW rf 5s 2087 Chi & NW 634836, Chi RI&P rf 43°34. ChiIRT&P4%s'52. e jorem wrnSBRrma Chi Un St 5844 Chile 65 "61. Chile 6361 Chile 6’61 Se) Chile 65 '62. Chile 6s'63. Chile 7842, Chile Cop db & 5 CCC&St L 4%sE"77 Clev Term 58 B'73. Cologne 63s'50. ., Colomb 65’61 Jan Colomb 6561 Oct Colo & Sou 4% '3, Col G&E 58 '52 May Col Gas & E 5s°61.. Com Inves 514849, Con G NY 43851, Con Gas N Y 58°57. Con G NY 5%s'45. Copenhag 4%s '53. Copenhag 58 '52 Cuba 5335’45, Czecho 8s'51. Del&Hud ref 9 — - AHED CHNORNANAR RS THRNORBAINR O N DT N A D&RGrcen 4s’36 D&RGr41s 36 D&RG W 5855 DetEd 4%s D'61 Det Edison 5s ‘5. Dodge Bros 6s'40.. Duquesned 15 sA"67 . Duquesned 1 sB'57. DEI5%s'53 Ne Dutch East I Erle cv 4s A '53 Erie s B53. Erie gen 4s Erie ref 5s 67 Erferef 5s'75 Finland 6s'45 Finland 75 '50. Fram Ind 7%s 42 2 French Gv 78'49... 12 French Gv 734841, 106 Gelsenk’hen 6s '34. Gen Baking 513s'40 Gen Cable 5% 547, Ger Cent Bk 6s'38.... Ger Cen Bk 6s'60 J Ger Cen Bk 6560 O Ger Cen Bk 78 '50.. Ger Gen Elec 65’4 Ger Gov 5%5 '65 German Rep 7s '49. GoodHopeS&I 78’45 Goodrich 6s'45. .. Goodyr Rub 58’57 - 0. Gt Brit&Ir 5%s'37. Grt Nor 4348 D '76. Grt Nor 4%sE"77. Grt Nor gn 783 Greek 6568 THE EVENING STAR, WASHINGTQN, D. C, SATURDAY, MARCH 18, 1933, ;_——_—’————z_'—__——__*——_————————__—__———___——-——* N.”Y. CURB MARKET Received by Private Wire Direct to The Star Office. ON NEW YORK STOCK EXCHANGE Reccived by Private Wire Direct to The Star Office. Marseil! 34. Milan 6348 °53. Mil E Ry&L 5s MBSP&SSM cn 45 '38 MSP&SSM 5145’78 MK& Tadj6s'67. MEK&T5sA 62 Mo Pac gn 45 - Mo Pacrf5sA '65.. Mo Pac5sF '17.... Mo Pac5sG'8.... Mo Pac 5s H'80.... Mo Pac 55 1'81 Mo Pac5%sA'4.. Mont Pwr 58 A 62, Nat Datry 6% Nat Steel 68°5 . Eng T 1st 55 '52. N J Power 656! . 1101% 101% 101% 81% 81% 81% - =T Toer Nw S Wales 5s'57.. Nw S Wales 58'58. . N Y Cent 334897, NYCentdb 4s'34.. NYCrf4%s2013. Y'Crf4%s2013n Crf5s2013... Cent ab 6s '3 9 e o o AN P RER NN R INANANEANS MR OANE SO ENN RO o - © Edison 65 C'51. NYEdrf6%s 41, NY NH&H clt 65'40 NY NH&H 6s 48 NY O&W gn 48 NYO&Wrt4s'92., NY S&W gn 55°40. N Y Steam 58 '56. .. N Y Tel gen 4345’39 NY W&B 4145 '46. . Nord 6%s'50 - ot} Nor Am E 5%s '63. Nor Ger Ltd 6s'47. NorOT&L 6s°'47. Nor Pac gn 3s 2047. Nor Pacr { 63 2047, A4 3. orway 68 '44..... Ore Sh L 58 gtd "46. Oreg-Wash 4s'61 Orient Dev 6553 Pac G&E 5s " Paramount § Param-Pub 5 Paris Or 6% . Pathe Exch 7s '37.. Penn cn 4%s '60 Penn 4%s D'70. Penn 5s'64 Penn gen 5868 Penn 6%s'36. . Penn P&L 48 '81. Peop Gasref 5s'47. Pere M 1st 5556 Peru 6s°60. . Phila Co 5s " Phila Elec 457 Philippine R 4837, Phillip Pet 5% 539 Poland 7547 Poland 8s 50 Porto Alegre . Port Gn El 4%4s '60. PorRAm T 6s” » » A QAN B HRDADRR LG HANNTRD-TN ABRNN A ODTWW DN WTTh RTINS 0N A0 Prague 714852, Prussia 65 " Public Serv 4s Pub Sv G 434567, Rem R 5%sA'4Tww Rhine Ruhr 6s'53. . Rhine West 65 '5: Rhine West 65 Rhine West 6s '55. . Rich Ofl Cal 6s°44 Rio de Jan 6135 '53. R GrdoSul6s'68.. RIAr& L4lss’34. Rome 614s"52. . StL IM R&G 4533, StL&SF 4s A StL&SF 5 StL SF 4%s'T8ct st St L&SF 58 B '50... Sao Paulo 75 '40. Saxon P W 63551 Saxon 7s'45. SeabAL6sA" Serbs-Cr-S1 856 Shell U Oil 58 '47 Shinyetsu 615852, Silesia Prov 7s '58. Sinc Oi1 6% s B "38. Sinc Ol 7s A '37. Sinc P L 58 '42 Soissons 6s'36 Sou Bell T&T & Sou Pac col 48'49. . Sou Pac rf 43’55 Sou Pac 415 '68. Sou P 414869 w Sou Pac 4%s'81... Sou Ry gn 4sA’56. . Sou Ry gn 6s '56 Sou Ry 638 '56 Sou Ry M&O 4 SW Bell T 5s A '54 StOIINJ5s'4 o a% Sweden 5158 '54. Swiss 515 '46. Tenn E1 P 6s A "4’ Tex Corp cv 58 "44. Tex & Pac 55 D'80. Third Av adj 5560, Tob P NJ 6% s 2022 Toho El Pw 75 '35... Tokio 535 "61. Tokio E1 Lt 6s'53 Union El L&P 5557 Un Pac 1st 45 °47.. Un Pac rf 43 2008. . Un Pac 4%s'67.... Un P 1st rf §s Unit Drug 5s U 'S Rubber 5847, . UnSt W6l A'47. Un St W6ls A'51. UnSt W 6%sC'51.. Uruguay 6s'60. ... Utah P & L 55°44. . Util Pw 58’59 ww. . Util Pow 5%s'47.. Va EI&Pwr 5148'42 Va Ry 1st 58 A'62.. Va Ry & Pw 5s'34. Wabash 41;s'78... Wabash 51,5 '75. .. Warren Bros 6s'41. West E1db 5s'44. . West Md 1st 4s '52. West Md 5%5°'77 West Un cl tr 58 West Union 5s 5. West Union 68 6 West Un 6%s'36 Westphalia 6s '53. ‘Wh Sew Mch 6s'40. Wil & Co 18t 65 '41. Ygstn S&T 5s A’78. Ygstn S&T 5s B'70. o on weBuearrnanan Boa nRosahniroanis aunenala " 42 22% 90 57% 57% - 57% 57% Business Notes NEW YORK, March 18.—In cotton textile markets sentiment is sald to be more favorable than & week , due to indications of a firmer basis for raw cotton. It is und that prices quoted some sellers within the past few days have been withdrawn. Trading in the burlap market has turned more active with the rising trend o government is being watched closely, 9% | ernment. here point out that “ ! greatly depleted recently, owing to the “ [ nation is still able to pay its debts or % | in placing a 5-cent limitation on wheat =5 | General Motors Stockholders Gain. 4| mon stock. This is the highest number ; | preferred stock. SOVIET BOND SALE INU.S. IS PLANNED Securities Will Be Put on Market if Recognition Is Granted. By the Associated Press. NEW YORK, March 18.—The atti- tude of the new administration in Washington toward the Russian Soviet and, rather impatiently, by some or- g::lnuom that are hoping to sell ds of the Communist nation to United States investors. At least one newly created firm has taken offices in the Wall Street district, and is making preparations for a Soviet bond selling campaign if the Roosevelt ev’:a‘mnm it will recognize the Present Ruling. The bonds, which it is hoped can be floated here, are of the “five-year-plan- In-four” varlety, maturing in five, ten and fifteen {CI.!'!. and carrying an in- terest rate of 10 per cent in some issues. The obligations are directly those of the Soviet government, and both in- mi;sc and principal are payable in gold. So far as the sale of Soviet bonds in the United States is concerned, the State Department has ruled that it will not lend its approval, although it has not directly prohibited their flota- tion’ In the event that the Roosevelt government might decide on some form of official or semi-offcial commercial relations with Moscow, even if flat rec- ognition is not granted, Soviet repre- sentatives hope that Secretary Hull may at least not oppose the proposed bond offerings. Several million dollars of the old czari¥ government bonds are out- standing in America, and the Commu- | nist rulers have declined to pay any part of them. These bonds occasionally are quoted at extremely low figures in the curb market, and sales are reported now and then. The buyers apparently speculate on the possibility of the Stalin regime offering some compromise on m'-hzseu issues if Russia is granted recog- on. Representatives of the Soviet U. 8. S. R. has funds to meet short- term credits amounting to some $400,000,000 this year; that the new nation has never defaulted, and will | not default in any. of its obligaticns. | While the country's income has been | low prices prevailing for commodities | with which foreign exchange is ob- tained abroad, it is contended that the | effect extenslons where it is necessary. Commissar’s Statement. It is understood that holders of the defaulted czarist bonds have already written letters to Washington protest- ing against recognizing the Soviet gov- ernment, and especially against the sale of U. S. 8. R. bonds in America. As to the actual value of the Soviet obligations, an important commissar at Moscow some time ago said: “Of course our bonds are good. We | have never defaulted and could not af- ford to default. It would ruin us. And if the capitalist nations come in and overthrow communism, everybody knows | | that the capitalists always pay the debts of the country they take over.” _ NEW DEAL FOR FARMERS OF NATION IS URGED| By the Associated Press. TOPEKA, Kans, March 18.—The committece of Kansas farm organiza- itlons in a statement yesterday said it hoped the action of boards of trade price fluctuations would be “sufficient notice to the farmers of this country to get behind Congress for a new deal.” It said the action, which the Chicago and Kansas City Boards of Trade previ- ously had announced would be re- scinded with the close of the market| today, “proves conclusively that we now | have and always have had a con-| trlled market—controlled by the big | operators.” “No limits were placed to prevent| extreme drops which have occurred in Tecent months,” it said, asking “why limit the market on an upward trend The statement was issued by C. A.| Ward, president of the Kansas Farmers' Union; C. G. Cogswell, State master of the grange, and L. E. Webb, presi- dent of the Farmers Co-operative Grain Dealers* Assoclation. NEW YORK, March 18 (#).—General Motors Corporation stockholders for the first quarter this year totaled 372,284, of whom 354,516 were holders of the com- reported since official figures have been available. For the fourth quarter of 1932 the corporation had 348,247 holders of common and 17.738 holders of the PRODUCTION. SPEEDS UP Two Cleveland Firms to Take on Several Hundred Men. VELAND, March 17 (#).—Two Cleveland firms last night reported in- creased activity, due to release of orders from automotive manufacturers. E. G. Thompson, vice president of Thompson Products, Inc., said 300 to 400 men would be recalled to work Monday. Officials of the Cleveland Graphite Bronze Co., manufacturers of bushings and bearings, said their business had increased about 20 per cent this week by releases from Detroit automobile manufacturers, CHICAGO STOCK MARKET CHICAGO, March 18 (#).—Following is the complete official list of transac- tions in stocks on the Chicago Stock Exchange today: Sales. STOCKS. 200 Asbestos M3 . 50 Bastian-Bless High. Low. Close. 3% aY ¥ * 200 Crane Co . 150 El Household gov- the | 2Pe CURB SHARES MOVE IN NARROW RANGE Market Active, but Price Trend Irregular—Short Interest Declines. BY JOHN A. CRONE, Special Dispatch to The Star. ., NEW YORK, March 18.~The curb exchange shuttled back and forth irreg- ularly today in moderately active trad- The market leader, Electric Bond & Share, moved within a-narrow range. Citles Service turned active and er. Niagara-Hudson Power was a shade lower. Standard Oil of Indiana retained its slight initial gain. Traders were interested in the short interest figures made public at 11:10 a.m. as of March 14 the short interest on the curb aggregated 23,205 shares, compared with 39,602 on January 30, or a decrease of 16.397. During the period covered by these statistics 2,880,- 257 shares were dealt in. The per- centage of shorts to total dealings again emphasizes the smallness of “bear” ge:unzx on this “cash and carry” mar- et. ‘Trade news was for the most part moderately constructive. Many manu- facturing plants, after a two-week shut- down, are resuming operations Monday. The weekly car loadings decreased, Wwas to be expected in view of the bank- ing holiday. With prices for many raw, semi-finished and finished materials on the average 10 per cent higher than on March 3, demand continues active. Deere & Co. was a shade lower fol- lowing the easier trend of wheat quota- tions, but Novadel Agene maintained its price. ,Encouraging sales reports from Atlantic Seaboard Motor offices | aroused attention in motor securities. Dow Chemical, after advancing 5% ints late Friday, was inclined to old close to that new level. American Cynamid B again was in demand. Indiana Pipe Line had discounted declaration of a 15-cent dividend. The last payment was made on November 15. Crane Co.s shares had forecast the 1932 net loss of $7,536,868, against a net loss of $7,985,329 in 1931. Richman Brothers, making its first appearance in several weeks, ylelded several ts. Other shares poin allied with the textile industry were dull. Pan-American Afrways with a rise of a point was the best acting stock in_the air group. New York Telephone preferred at one time was up almost a point, but the senior shares of communicating companies generally were neglected. Virtually all of the red metal shares were lower because of the trend of copper. Natural gas shares were of- fered, though such firms in many lo- calities should benefit from increasing factory operations, BONDS ON THE CURB MARKET aKie 7Am Roll M'4izs 5432 17Am Roll Mt ‘58 3 Arkans P & L 55 6 Asso El Ind 4! 10 Asso G&E it 9% 5 9% 3 Asso T&T 5las A '35 ' As Tel Ut bias '44 C o B & O5s F 12 lina 5 10 Cent 1ll PS 4135 F '67 1Cen Il PS 4125 H '81 BCent Pw & Lt 58 '56 4 0414 043 00 434 334 3 4108 * 1 10411 . O f Power 5; Oil_blas. hy Pke 5l C G c 3" 1 1 0412 0412 91 91 7 Consm 1 Contl 2 Cuda 2 Hood Rubber 7s 1 Hudson BM&S 6s 65 A Sorie 2 'y EEEH 5 FIIIS 8 o5 Rk ] eSS . & 78 76 T !55 103% 41" gata - aRy s T ‘49 60% 56 3333 Co 9"':;’; i ExE o 47,13 7713 A 07 55% B 68 biY 80" 60 gt ‘A O sgEeEn of. £3} o o 2PE P! 55| 55 AR F3322 - B B &l a a a 06Y% 9GY a2 Bale— 2% Stock and ‘Dividend Rate. Aluminum of Amer350s Am Founders. ..... Am Gas& El (31).. Am Lt & Trac (2).. Am Superpower, .. Arkansas Nat Gas.. Arkansas NtGs A.,. Ass0 Gas&Elec (A) Atlas Utilitier Atjas Util war. Axton Fish A 3. Babcox&Wilcox(2) Bellanca Alr vic... Brit-Am Tob (B) (P24 1-10€) . .cune Brt-A Tb rg p24.1c. BurmaLtd rcts pdc. Canadian Marconi. Cent States Elec. Cities Serv! Clev Elec Illu 1. Comwith Edis (5). Comwlith & Sou wr. Con Min&S(b10%) . Cont Shares cv pf.. Cord Corp (10¢).... Cosden & Coc.od.. Cozden Of1. . Cosden Oil p: aee Crocker Wheeler. . Cus{ Mexicana Min Deere &Co........ Dow Chemical (2).. E1Bd & Share b6% S - wrrorend ok rorra e S P eenBon Hee e Europ El Ltd A 30c Europ Elec deb rts. Ford Motor Can A. Ford Motor Can B. Ford Motor Ltd. General Alloys.... General Aviation. . Gen Theat Eq cv pf. Goldman Sachs. . Gold Seal El new. ... Great A&PT pt (7) Gulf Ol of Pa..... Hudson Bay Min... Imp Tob Can 35¢ Int Petrol (1)..... Int Safety Raz (B). IntUtilA.ceaeeene IntUtlB......... Italian Superpw A. Lake Shore M (3) Lefcourt Realty. .. Libby McNeill & L. LngISLtng pfA 7. 10s Tt Memphis Nat Gas.. 1 Mort Bk ColAmsh 1 3 & 2T% 2T% 1 1 RO U O 63 N8 N N 2 2 6 % v 2 2 76 4% 2 4% 2 FINANCIAL. Stock and Sale— Dividend Rate. Add 00. High. Low. Close. NatBellas Hess... 12 1% 1% 1% NatFuelGas (1).. 1 11% 11% 11% Nat Service....... o g New Eng Pw pf (6) 60s 41 40% 41 Newmont Mining.. 50s 15% 15% 15% NYShip (10c).... 15 4% 4 4% N Y Tel pf (6%)... 758 116 115% 116 NiagHudsonP(1) 7 11 11 11 Niag Hud (A) war, & @ Nor Am Lt & P pf. % Th Novadel Agne (5 40 39% Penroad Corp. Plerce Governor Ploneer Gold 24¢. . Pitney Bowes P.... Pub Sve Nor 111 (3) 508 Pub Util Hd e pf.. Puget S P&L3$5 pt 108 Richmond Bros (3) 25s Roan Antelope.... 4 Roch G&E pt D 6.100s 84 St Anthony Gold 3 8t Regis Paper..., 2 St Regls Paper pf.. 208 & | Trans Lux DL F 5. - Utility Equities Salt Creek Consol. . Seaboard Utilities. Security Aliied Cp. Belected Industries Shattuck Den Min.. Bhenandoah Corp. Smith (A 0).. Sou Cal Ed pfA 1% SouCal EdpfC1% Southland Roy 20c. Stand Ofl Ind (1).. Stand Ofl of Ky (1), Stand Slver & Ld. Stinnes (Hugo). S Technicolor. ...... Utd Corp war, . *3 A—I13 CONFIDENT TRADE OUTLOOK REPORTED Weekly Mercantile Review Notes Headway in Re- storing Business. By the Associated Press. NEW YORK, March 18—Dun & Bradstreet, Inc., said that there was “now more buoyancy to general com- mercial activity than has been in evi- dence in years.” Asserting that further progress was made this week toward confl- dence “in all branches of business en- the Mercantile Review added: “Taking the offensive through em- phasis on expended credit facllities and the determination of leaders of industry to carry on aggressively, distinct head- Way was made during the first weex following a financial crisis and cash 4 | stringency which has had no parallel in 26 years. “It is now apparent that the era of fear has definitely and with it that phase of commercial history which | belittled responsibility and placed a premium on re ess in business conduct. The resurgence of the well tried ideals of caution and conservatism holds assurance of the early restoration of a xg‘t‘:hre dependable cconomic bal- ance. e more dispassionate view of difficulties to be overcome, which ac- companies a period of relaxation, is one of the best safeguards for an uninter- rupted forward movement.” | _Retail buying improved, the Review said, and sales in some linés went ahead of seasonal, while “there was a far bet- United Founders. , United Gas. .. Unit Lt&Pwr (A). US Elec Pwr ww. . U S & Intl Sec. . US&Intl 1st pf. UHIP&Lt... - Util&Industrial pf, Van Camp Pack. ... Van Camp Pak pf. Walgreen Co (1). Walker (Hiram). Wenden Copper. ... 4 Wright Earg t20c.. 5 3% 3% Dividend rates in dollars based on last Quarterly or semi-annual payment. °*Ex dividend. {Partly extra. iPlus 4% in stock. aPayablé in cash or stock. b Payable in stock. e Adfustment dividend. {Plus 5% in stock. gPlus 6% in stock. hPlus 1% in stock. {Plus 2% in stock. k Plus 107 in stock. mPlus 3% in stock. n Plus 8% in stock. P Paid last year—no regular rate. O R RIS O M 08 G T 1t B b b 0063 1 b 0 14 5 & TEXTILE AND FOOD INTERESTS HOPEFUL Business Men Report Resumption of Orders Following Bank- ing Holiday. Special Dispatch to The Btar. NEW YORK, March 18 —Textile and | foodstuff trades today eagerly studied | quotations of the New York Cotton Exchange and the Chicago Board of | Trade, following the strength displayed {by most commodity and security ex- | changes Wednesday. Business generally reported that the | cancellations of orders that poured in immediately after the declaration of | the national banking holiday were | being reinstated in whole or part today. And the customs house here is crowded with importers and exporters, who have i found that foreign exchange restric- j:‘lg:: will not hamper usual transac- The average retailer has disregarded the :lu.ctunmm n rpmrm'y markets during the last two weeks. He may have lifted his prices to the consumer, but he did not trouble himself to add much in the way of stocks. This, | however, was not true, either of the | wholesaler or the jobber, both of whom | are responsive to rapid price changes. i Worth Street, center of the cotton goods trade, and Beaver Street, the business here, today ! to draw from such rej A | as well as from various trade trends in recent days, some forecast of definite tendencies. (Copyright. 1933 Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., March 18 —White Potatoes, per 100 pounds, 85a1.00; new, bushel, 1.50a1.65; sweet potatoes, bushe!, - dozen bunches, 2.00a4.00; beets, half crate, 1.10al.25; cabbage, ton, 17.00a 18.00; carrots, ‘bushel, 50a60; cauli- cower, crate, 1.50a1.65; celery, crate, 1.50a2.50; cucumbers, bushel, 3.005.00; eggplants, crate, 1.50a3.00; lettuce, crat, 2.75a3.25; lima beans, bushel, 2.75a3.00 onions, 100 pounds, 1.0081.25; peas, bushel, 2.25a3.00; peppers, bushel, 1.00: spinach, bushel, 60a75; squash, bushel, 75a1.00; toes, lug, '5081.90; turnips, basket, '25a40; apples, bushel, 35a1.50; grapefruit, box, 1.75a2.50; ora: box, 1.7523.25; strawberries, pint, 13al4; tangerines, half box, 1.00a1.50. Live poultry—Turkeys, young, hens, i pound, 20a22; gobblers, 17a18; old hens, 18a20; toms, 13al4; young chickens, 17 al9; all kinds, poor and thin, 10a12; old hens, 15a17; Leghorns, 13al4; old 10; ducks, 12al4; broilers, 18a 22; guinea fowl, each, 25a45; pigeons, ir, 15a20. Receipts, 2,250 cases; current receipts, dozen, 121;; duck eggs, 18a2l. Butter—Good to fancy, 3 pound, 17a21; ladles, 14a15; packed, 11; process butter, 16, Power Firm Sale Completed. BALTIMORE, March 18 (Special).— Settlement was made yesterday by the Consolidaf Gas, Electric Light & Power Co. of Baltimore for the - lis & Chesapeake Bay Power Co., W was sold at public auction last July the receiver appointed by States District Court. $1,900,000 campany ‘st that time for property, subject to bonded in- debtedness, and the sale was later rati- fied by the United States District Court and approved by the Public Service Commission. Officials of the Consoli- dated Gas Co. paid the receiver, G. Towers, and took over the franchise and assets of the company. Market Avenkes | 40a1.00; barrel, 1.00a1.25; asparagus, | 'WHOLESALE PRICES. Butter—One-pound prints (93 score), 22; tub, 21; one-pound prints (92 : tub, 20; one-pound prints : tub, 19; one-pound prints (90 score), 19; tub, 18. Eggs—Hennery, white, 12; current re- 18%,; standards, 17; mediums, 16. Poultry, alive—Turkeys, hens, young, 16a20; old, 12al4; toms, 13al4: old. 8a10; chickens, hens, 13al5; Leghorn hens, 9all; Winter chickens, 13alé | stags, 8al0; roosters, 6a7; outn | Rocks, broilers, 20822; fryers, 17a19; roasters, 17a19; mixed colored chick- ens, 14a16; keats, young, 25a40; old, 15a20; cdpons, 7 to 9 pounds, 18; 5 to 6 | pounds, 15. | _ Poultry, essed — Turkeys, hens, young, 19a23; old, 15a17; toms, young, 16a17; old, 11a13; chickens, hens, 16al Leghorn hens, 12a13; Winter chicken: 18al9; stags, 11al3; roasters, 9al Plymouth Rocks, broilers, 23a25; fryers, 20a21; roasters, 20a22; mixed colored chickens, 17a19; keats, young, 28a43; old, 18a23: capons, 7 to 9 pounds, 21: 5 to 6 pounds, 18. Meats—Beef, 10; veal, 12; lamb, 14; pork loins, 12 fresh hams, 12; smoked hams, 13; strip bacen, 13; lard, Ti2; compound, 7. ! Frazier, Jelke & Co.—Yesterday's sharp advance was a spontaneous out- burst of confidence reflecting Nation= wide relief over the removal of many uncertainties in major domestic prob- |lems and the substitution of definite policies regarding banking, Govern=- iment finances and Federal compensa- tion. While some consolidation of | ground gained may be necessary, the extent of the rise seems no more than | commensurate with the improvement | in the outlook. Jackson Bros, Boesel & Co.—The burst of buying could in no sense be credited entirely to short covering. The new economic conditions prevailing in- vited a substantial amount of new buy- | ing from all over the country and from for countries as well. Nor is it conceivable that the potential demand has in any sense been satisfied. The | pace may be slower from this point on, but we look for a backlog of buying power which will bring further appre- ciation. The increased values created for property will, of course, develop much of the new buying power, which ?n be expegted to come into the mar- ets. Redmond & Co—From a trading standpoint, we would be inclined to take at least part of one's profits on any sharp bulges, but for the first time in more than two years we feel that a sound basis is being laid for a general Tecovery in the securities markets and general business. As we view the sit- uation, we believe that there has been a return of confidence in the ability of our Federal Government to handle pressing economic and financial prob- lems and confidence must be the basis of any sustained recovery. Thomson & McKinnon—In view of the unprecedented rise in stock prices yesterday, it is needless to say a bit of caution should be observed in giv- ing vent to our enthusiasm. The grain and cotton markets most likely will be the market’s more immediate influences. FEITIAT R German doctors are expressing amaze- ment over the remarkable recovery of Charlotte Lehmann, a young Berlin telephone operator who 'broke nearly every bone in her body in a fall of 240 feet from the Berlin radio tower to the Testaurant, apricots, oranges, 5.00; tangerines, 2.00a2.25: grapefruit, | 2.00a2.50; limes, per 100, 2.00; bananas, 1.25a2.50; alligator pears, 3.50a4.00; | honeydews, 2.00; pineapples, 5.00a6.00; quarts, 20; rhubarb, 40a50; cran- berries, 3.25; grapes, Argentina, per pound, 50; Emperors, kegs, 5.50a6:00; strawberries, 4.00a6.00. Vegetables—Potatoes, Maine, 1.25; New York, 100al.15; Florida, nes 1.75; Idaho bakers, 1.7: tomatoes, repacks, 3-pan crates, 1.25; lugs, 1.00a2.00; broccoli, 3.00; turnips, 40850; parsnips, 8581.00; string beans, 1.502.00; peas, 2.75a3.00; lima beans, 50; 1.50a1.75; kale, 00; mushrooms, 50a 75, salsify, per dozen, iceberg, 3.00a3.25; squash, 1.00a2.25; eggplant, 1.50a2.00; beets, crates, 1.25; carrots, crates, 1.25; cucumbers, 4.00a 4.50; celery, 1. cabbage, new, hamp- ers, 125a1.35: old, sacks, 85; aspara- gus, 2.50a5.50; 1.7582.00; corn, Florica, 3.00; okra, pans, 75, NEW YORK EGG PRICES NEW YORK, March 18 (Special).— Quotations for eggs in the wholesale cash market today were: Mixed colors—Special packs, 15a16%4; standards, 142a143; storage packed firsts, 14a14%; firsts, 13%,a131; sec- onds, 13; medium, 123;a13; dirties, 13; checks, 1115a113;. Whites—Nearby se- lected, 1912a2012; Western receipts, spe- clals, ' 173a183%; standards, 16%:al7; undergrades, 15al6. Browns—Near- lg :;A% special packs, 16a18; standards, al15%. GOLD STOCKS GAIN. NEW YORK, March 18 (#)—Yes- terday's gold statement of the New York Federal Reserve Bank showed thal $1,000,000 in metal had been re- leased from earmark. There was also an ‘ll:,:pomunn of 3112'1.000 from Pena. 50 net gain to the country’s stocks totaled $1,127,000 for the d-‘yfiI PROPERTY Apartment House MANAGEMENT | ceipts, 11; Government graded, extras, Spanish melons, 6.00a7.00; kumgquats, | ter tone to buying interest in whole- sele merchandise than was the case last | week, and indications are favorable that the arrival of buyers next week will be “ | the heaviest for the Spring season.” NEW YORK, March 18.—Today's | brokers’ comment was optimistic. Im- portant changes in economic and psy- ‘chologil!al influences were seen by nu- | merous commentators, and an extension of the stock market’s rise was generally expected, subject, perhaps, to corrective reaction. Some counseled caution in following the rise. ¥ Munds, Winslow & Potter—We be- | lieve that a change of fundamental na- |ture has taken place in the situation. We believe that powerful forces along | sound and constructive lines have defi- | nitely set in motion which will success- | fully arrest the process of deflation. We | believe that the long period of declining | prices which began in September, 1929, | is now substantially at an end. We be- | lieve this is the time to deliberately face new conditions. We are prepared to go on record in stating that the situation | justifies the confident expectation that | a perlod of better times is ahead, sub- ject, of course, to temporary setbacks ;am:’ the settlement of temporary diffi- | culties. Shields & Co.—A very important | sideration to keep in mind is that the | belated readjustment of the structure threatens some liquidation. None knows how much. Such markets 1&! experienced yesterday in the enthu- siasm of reopening afford an opportu- | nity that those entrusted with such | operations should not miss. While the | possibility of such selling exists there is necessity for extreme caution in follow- | ing rallies when the trading pace be- | comes too fast. | Hornblower & Weeks.—The sharp | technical rally, now under way, should | follow through for several days. Busi- | ness indices at the moment are rightly | assuming secondary importance due to | the general belief that a reversal in the | downward trend of business was not likely to be witnessed until confidence | was first restored by the enactment of * | sound fiscal legislation and the removal of uncertainties in the financial situa- tion. MANAGEMENT advantage of placing your apartment house prop- nPonEn: erties under the care of our Property Management Depart- ment is that you can be sure that every angle of your in. terests is being carefully watched continuously. We as- sume complete management, attending to every detail, with the result that many savings are effected and the utmost profit insured. Our fee for this service is a very nominal one. B. F. SAUL CO. 925 15th St. N.W. Nat'l 2100 in the interests. Forelgn trade circles hear that im- placed By the Associated Press. PSRNy 1017 101 0 6. B4l R4y 30" 3 B7% BT 31e 023 2... Int Cement 5s '48 Int & Gt Noi STOCKS. ) R e FEEEE S F EEE S § 3 83;';‘;.’5» 'q-E! 1t s 0% 100% 1001 0 /e 100 42 a1 a1 38 38 " 38 3R 3R AR 36 36 " 3 88 bt 0 DTt 521360 i 4 DTS DA 2088 B S5 S G 8 235 B 00 NS S ot i) ot i 50 Nachman 8Sprg 100 Noblitt-Sparks . 50Nor Am L & P . ey P & P o 5 is) 55 IntT&T 4% Int T & T 6s’55.. Italy 7s’51. Italy Pub 7s'52 Japanese 5348 '65 Japanese 6148 ‘54 Kan CF S&M 4536 Kan C P&L 4148 '61 Kan City Ter 4s' Karstadt 6543 Laclede 533 C'53. | Lautaro Nit 68 '54. Lig & Myers 5s'51. Lig & Myers 7844, Loew's 6s " La & Ark 5869, . L&N4%sC2003 Lyons 6s'34. .. McKes & R 5% ~ Manbat Ry cn 48" anhaBanuernuasnio 8 LH e Frirdsie’ & I " 2 F Esivh _—_— - e REIRTEZ 23RINBBTINN & P It is reported in merchandise quar- 35% | ters that retail buying are being advised by market representatives to place their Easter orders eflmpfly in order to se- cure timely delivery. FEDERAL RESERVE RATIO. e LR FRFARRRRR RS o SERSSIERNE 2 hnld -{"1 til 6% % e $V62% Q Mar. Lumbermen’s Ins.$1.26 Q Apr. Meadvi St b BRRBRDIOL R DE] 5 )20 ©DLWNE i o Soe ey AR50 ' ) - Hlle’ Conn LaL g "$1 8 Apr. PLA.. .$1621% Q 5 »f B..$1.50 N Y Sun Inc 1st pr-$4 8 Apr. mnxcn Pharmical .%l Q Apr. vadel Agene ..$1.25 .. Apr, Do. pf . Sld'is Q Apr. $1.25 Q Apr. " PR I=T 11 eor ESuamemmsmanas o = b & Morris Plan Bk of Hartford . as by s 99% 90% 29 .,.._ g SERERE 33 onont 61 61 3 3% 106 106% 120 121 66% 66% 24% 24% 2 69% 69% 60% 1 101%.101% 101% 6. 28 _2I% 2% T 3% W% I’ 88936 ot Jaoas o Mar. 2 Mar. 24 Mar. 24 a8 [otes ) E2333R3IPBII 833338S8, Fenn SEE3R2BET o Llisooluisios0D) RobisinionDmn oo - 28333335323, °! & Wbisiolom D b= aos! MORTGAGE LOANS : .E