Evening Star Newspaper, March 21, 1933, Page 15

IORLD SUGAR CROP FINANCIAL/ ON NEW YORK BINDLISTDROPS |[BOND'S 2 ckicaont CURB ISSUES S4G AT ey —— Long-Term U S. Government Issues and Corporation Group Are Lower. BY CHARLES F. SPEARE. Bpecial Dispatch to The Star. NEW YORK, March 21.—Substantial | @eclines occurred today in a long list| of semi-speculatirc domestic corpora- | tion bonds and further losses were registered in the long-term United | Btates Government loans. The selling that took place in both groups was an aftermath of the vigorous rallies of last | week when there apparently were cre- | ated some over-extended dealer ac- counts. ‘The cause of this decline was, there- | fore, mainly technical in its nature. In the case of the junior rails the reaction was in the face of higher prices for raflroad stocks. The losses in th! group ranged from 1 to 2 points and | were most extreme in the issues of the Baltimore & Ohio, Great Northern, Pennsylvania, Missouri Pacific, New York Central, Illinois Central and Chi- cago Great Western. They occurred on a small volume of offerings which was further evidence that the downward trend was due primarily to conditions ‘within the market itself. ‘There were also some large declines in other parts of the list, as in Texas Co. 5s, ich dropped 2 points; Good- rich 6s and Tobacco Products 6s, both | off a point, and in Interborough Rapid Transit 68 and refunding 5s, American | & Foreign Power 5s, Armour & Co. 4128, New Jersey Power & Light 4!2s and | Third Avenue adjustments. There were evidences of a reduced demand in se eral of the high-grade public utilities and first mortgage rails. At the opening the German list was strong, In spite of the radical state- ments made by the German dictator at the opening of the Reichstag. Later some of these gains were pared down. At the same time, weakness was shown in Prench, British -and Italian dollar Joans. In contrast was the strength in Japanese municipals and power and light bonds. The reaction in United States Treas- ury issues extended from 3 to 53 of & t and was largest in the 414s, 33,s, ss and 3'gs per cent loans. some of which have declined 1!, points from the high of last week. It is not im- robable that the reaction in this group as been Influenced by the' prepara- tions being made for refunding, which would include the issue of a popular loan at a rate of interest in excess of the return of 3!y per cent to 3!, per cent on the outstanding long-term ‘Treasury issues. (Copyrisht, 1933.) Washington Produce ‘WHOLESALE PRICES. Butter—One-pound prints (98 score), | 22; tub, 21; one-pound prints (92' score), 21; tub, 20; one-pound prints| (91 score), 20; tub, 19 prints (90 score), 19; tub, | Eggs—Hennery, white, 11a12; current | receipts, 10a11; Government graded, ex- | tras, 181;; standards, 17; mediums, 16. Poultry, allve—Turkeys, hens, young, 16220; old, 13al4; toms, 13al4: old. 82°0; chickens, hens, 13a15; Leghorn he: 9all; Winter chickens. 13al¢; sfag . 8al0; roosters. 6a7; Plymoutn Rock . brotlers, 20a22; fryers. 17a19; roastcrs, 17a19; mixed colored chick- ens, 14a16; keats, young, 25a40: old, | 15820; capons, 7 td 9 pounds, 18; 5 to 6 | pounds, 15. Poultry, dressed — Turkey: hens, young, 19 old, 16al7; toms, young, 16a17; old, 3; chickens, hens, 16a18; Leghorn hens, 12a13; Winter chickens, 18a19; stags, 11al3; roasters, 9ali Plymouth Rocks, broilers, 23a25; fryers, 20a21; roasters, 20a22; mixed colored chickens, 17a19; keats, young, 28a4 old, 18a23; capons, 7 to 9 pounds, 31; 6 to 6 pounds, 18. Meats—Beef, 11: lamb, 12; veal, 12: k loins, 13: fresh hams, 12; smoked ams, strip bacon, 13; lard, 7)2; compound, 7. Live stock—Hogs, light, 3.75a4.21 medium, 3.75a4.30; heavy. 3.25a4.0 igs, 2.75a4.00; rcughs, 1.50a3.00; calves, 0086.00; lambs, 3.0026.00. Fruits—Watermelons, Argentina, 15 to 18 pounds, 2.00a2.50; grapes, Argen- tina, Almeira’s and Muscatels, per pound, 50; oranges, 2.50a4.00; lemons, 4.0085. g‘r‘ 100, 2. stra {erh\el, 2.00a225; bana apples, fancy box stock, 1.75a: tarines, 1.75; honeydews, 4 pineapples, 4.00a6.00; rhubarb, 40a5 alligator pears, 2.5024.00. Vegetables — Potatoes, Maine, 1.25; New York, 1.10; Florida, new, barrels, 5.50a6.00; Idaho bakers, 175a2.00; sweets, 60a75; cal , new, 1.00a1.50; old, 85a80; turnips, 75; parsnips, 50a7 celery, 2.50a2.75; lettuce, iceberg, 3.0083.25; string beans, 1.50a1.7: limas, 3.00a3.25: peas, 3.00a3.50; eg cucumbers, 3.5024.00. Commodity Index Higher. NEW YORK, March 21 (#).—The ‘wholesale commodity index, prepared by the National Fertilizer Association, stood at 57.0 for March 17, compared with 56.7 the previous week and 50.0 the month previous. . . PARIS BOURSE PRICES. PARIS, March 21 (#).—Three per cent rentes, 72 francs 80 centimes; 4% per cent rentes, 88.05. | change on London, 87.13. The dol- Jar was quoted at 25.52. Washington Stock Exchange SALES. Potomac Electric 53 % pfd.—5 at 105;. AFTER CALL. Potomac Electric 512% pfd.—3 at 105. Bid and Asked P: ces. BONDS. PUBLIC UTILIT .. Amer. Tel. & Tel. 4% Am. Tel. & Tel. ctl. tr. ba Anacostis & Pot. E_R. 5s. Anscostis & Pot Gusr. bs. C. & P. Tel of Va. Gepital Traction B. R. Bid. Asked. 9... 105 . 104 'MISCELLANEOUS. jer. Bromo-Selz. “A” (2] n Monotype (4). ype Peoples Drus Siores pfd. (6%) ‘Wdwd. & Lothrop com. (1.2 Wdwd. & Lothrop pfd. (7)-.. dividend, 2% one-pound | € | Ger Cen Bk 65 °60 O (Sales are in Lib 1ste g Lib 4th 43 s 33-38 101 US3s51 . US3%s46-49.... 98 US3%eM41-43. 101 US3%sJ40-43.. 101 US3%eds-47... 101 UB3%s46-56 U848 44-5. US4KsdT Abitibl P&P §8°53. Adams Exp 48 Alleghany 6844 Alleghany 6849 Alleghany 5s°'50 Am Chain ab Am F P 8 20 Am Intl 5358°49. Am Metal 5138 '34. Am Sm&Ref 58'47. Am T&T 4148’39, . Am T&T e tr Am T&T deb Am T&T deb “Am T&T 548'43 Am Wat Wks 58" AmMWWE&ES Am Wr Pap 65 '47.. Argentine 5s '45. .. Argentine 5138 '62. Argent 6361 May. Argentine 6s ‘69 Ju Argentine 6s ‘69 Oc Argentine 65 A '57. Argentine 6s B'58. Arm & Co 413839, | Arm Del 5133 '43... Atchis 48 1905-55. . Atchison gn 48°95. | AUC Lcol 48°52.. AtICLun4i3s’64. At] Gulf&WI 68’69, Atl Ref db 58'37... B&OTf 58D 2000, B&OTfEsC'95. .. B & O Sw dv 5850, Batav Pet 4138 '42. Belgium 68 Belgium §3;8 49 Belgium 78 '55. Belglum 7s'66 Bell Tel Pa 55 B'48. Bell Tel Pa 58 C'60. | Berlin Cy El 6555 Berlin 6144 '50 Berlin CEI 8 Beth Stl pm g Beth Stl rf 5542 Bolivia 7858 | Balivia 78 Bos & Me 4 Brazil 61 Brasil C R | Brazil 85 | Breme Bklyn Man 6s Bklyn Un Ga Bklyn UnGas Budapest 6s . Buenos A R 6s '61.. BR& Pitts 4158 '57 Bush Ter con 58'55. Bush T Bldg 55'60. Canada 4s'60 1 Can Nat Ry 43,8'55 Can Nat 5369 July ‘an Nat 58°69 Oct. Can Nordb 61;s" Can Nor deb Can Pac 4%8°46. .. Can Pac 53 "44 ctfs. Can Pac 58 ‘54 Cent 111 E&G 58 '51. Cen Ry NJ gn 58’87 Cent Pac 18t 48°49. Cent Pac 58 60.. Cert-tddb 5% 843, Ches Corp 58 °47... C&Ogend%s'92.. C&0O418A'93. C&04%sB'95, C & O con 5539 CB&Qgn 4s'58 CB&Q41;s8'TT, CB&Qrfis CB&Q 111 45 '49 Chi Grt West 45'59. Chi Ind&L gn 6s'66 C M & StP gn 45'89. Chi M&StP 4%s E. C M StP&P 5s'75. . CM&StP ad 5s 2000 Chi&NW gn 315587 Chi & NW gn 4x'87. ChI&NW 4145 2037 Chi&NW 415sC'37, Chi & NW 43,549, Chi&NW rf 58 2037 Chi RI&P gn Chi RI&P rf 43 ChiRI&P4 Chi RI4% CTH&SE in 58 Chi Un 8ta 6% C&WInd5%e’s2, Childs deb 58 '43 Chile 6563 Chile 7542 2 Chile Cop db 58 °47. Chi Mtg Bk 615 '57 Cin Un Trm 55 2020 'CC&St L 41, Clev Term 415577, Clev Term 55 B '73. Clev Ter 5%43A'72.. Cologne 8 = Colomb 6s 61 Jan.. Colomb 6s°61 Oct.. Colon Oil 68°38.. ... Colo & Sou 4158 '35, Colo & Sou 4155’80 Col G&E 5852 May ColGas & E 55'61.. Com Inves 5168 '49. Con G NY 4138'51. Con Gas N Y 5s'57. Con G NY 5%s'45. Con P Jap 6%s Copenhag 4% '5: Copenhag bs '52. .. Cuba R R 1st 5562 Del&Hud ref 4 Denmark 4% Denmark 65’42 D&RGren 4 frs Det Edison rf 58'49 Det Edison 58 '62. . Dodge Bros 6s'40. . Duquesned 155A'67 . Duquesned 15 8B'57 . Dutch East 1 6s'47. Dutch East I 6s'62. > an Fiat deb 78°46. Finland 6%s'56... Finland 78°50. Fisk Rub 8s°41 Fram Ind 7%s French Gv 7s "49 French Gv 7%s Gelsenk'hen Gen St Cas’ Ger Cent Bk 65'3; Ger Cen Bk 6560 J ‘34, 49. 8., o ~2580a E8waran Ger Cen Bk 7 Ger Gen Elec 654 Ger Gov 5186 German Rep GoodHopeS&I 18'45 Goodrich 88 '45 1 Goodrich 614" Goodyr Rub Grand Trunk 6x'36. 28 Grand Trunk 7840, 12 Gt Brit&Ir §%8'37. b Grt Nor 4338 E'T7 Grt Nor 58 C'73. 2 Grt Nor5%s B '62. 11 Grt Norgn 7s'36.. 12 Haiti 68°'52. . 7 Hud & M adj 5¢'57. 18 Hud & M rf 58’5 5 Humble Ol s '3 111 Bell Tell 58 51 1l Cent cl tr = S2ad onSorwaniinesr ~e~s UNITED STATES. $1.000.) 201018 9720 9629 29 987 1001 1007 9931 80 101 108 gh. Low. Olese. Lib31s32-47... 10124 1013 10124 2-47. 1012210110 101 20 10110 9681 988 1007 100 10 100 10224 1028 1028 10412 103 24 10824 1087 1071 1071 111 Steel db 448'40. 19 100% Inland St 4143 A'78 % Speculators Have Bid Up Int Pap ref 53 A'47. Int Pap 6a's5..... Int Ry C A %x'47, IntT&T4%s's Int T & T 4%s'52 Int T & T 58’55, - | Italy 78 °51. 80 % 101% 103% 52% | Un Pac 1st 4 Italy Pub 7s 52 Japanese bl s Japanese 648 Kan CF S&M 45’36 Kan C P&L 414561 Kan City Sou 38’50, Kan City Seu bs'50 Kan City Ter G&E 4% Laclede 5348 C'53. Lake Shore 3% #'87 Leh Val cn 48 2003, Lig & Myers 68’51, Lig & Myers 78 '44. Loew's6s'41...... Lorillard 55 '51 Long Isl db 6’37 L &N uni 4540 L &N 4%sC 2008 L. & N 58 R 2003 Lyons 6s°34. McKes& R 5158’ Manhat Ry cn 4890 Market St 7s A Marseille 68 Midvale 8t 58’36 Milan 6%s 52 M1l E Ry&L 5s'61. Mil E Ry&L 6s'71. MSPASSM 5148°18 MK&T 1st 45°90. MK&TGisA'62. . MK & Tadj5n'67. Mo Pac gn 4s Mo PacrfbsA’ Mo Pac5s F'7 Mo Pac5s G '78 Mo Pac 58 H '80 Mo Pac5aI'81. Mo Pac 5148 A " Mobile-Ohfo 58 Montevideo 6s'59.. 14 sau Elec 45 '51. Dairy 53,848 t Steel s NEng T 1stba'52. N J Power 6560.... 6 NOT&MGbE%54. 11 Nw 8 Wales 58'57.. 17 Nw S8 Wales58'58.. 3 NYCent3y%s's7.. 5 NYCentdbdn'34. 21 NYCrf4%s2013, NYCrf43;s2013n YCrt6s2013 Y Cent ab 6 CLS 31898 YC&StL 18t 4 NYC&StL 41;8'78. NYC&StL53%sA'74. N Y Ediacn 5s B'44 N Y Edison 58 C'51. N Y EL H&P 4849 9% 34y 1081 124% 651 1 88 708 75 101% 7 30 64 101% 85 82 4% Te% 4614 8% T0% 394 Ry 25% 23% 24 248 234% 13 13 N Y 8team 55 5| N Y Tél gen 4 NY W&B 4 %8 Nia Sh Md 5248 '50. rd 634850 Norf Sou rf 5a 61 Nor & Wn cn 45’9 Nor & Wn div 4844 North Am Co 581, Nor Am Fd 58 A'57 Nor AmF 514863, Nor Ger Ltd 6547 NorOT & L 6s°47. Nor Pac4a'97..... Nor Pacr 1682047, Nor St Pw 58 A '41. Norway 58"63..... Norway 538 " Norway Norway Ohio P 8748 Ore 8h L 58 gt Orex-Was| 61 Orient Dev 6s'53. . Owens 111 G1 5539 Pac GRE 5= '42. Pac T&T 1st 5 Pac T&T rf 53’52 Paramount 68'47. . Param-Pub 5% 850 Paris Or 54868, Penn ata 4848, Penn 438 D '81 Penn cn 44860 Penn 41,8 D '70 Penn 43,5 '63. Penn 5864, Penn gen 556 Penn 614536, Penn P&L 418 Pere Marq 418 Pere M 1at 58 '5| Peru 6560, Peru 785! Phila Co 6 Phila Elec 43°7 Phila & Read 6849 Phillip Pet 51’39 PCC&StLEsA'T0 Y &l 82 811 915 100% 88% 32 36% 415 7 5% 9% 40 72% 83 824 35 85 B4% o5 59 23% 91 45 484% 96% 101% 101 99 65 o Poland 7 Poland 85 °50. Prussia 68’52 Prussia 635 5 Publie Serv Pub8 G 41867, Pub Sv G 4148°70. Queensland 6s " Queen: Read 4%s A Rem R 5% 8A'4Tww Rhinelbe U 7846 1. Rhine Ruhr 6s'53. . Rhine West 65'52. . Rhine West Rhine West Rich Oil Cal 6 R Gr do Sul 6568, Rio Gr W clt 4849, RIAr&L4%s'34. Rome 63852 Royal Dutch 48 '45. Rumania 7559, StL IM R&G 48'33. 21 StL&SF4sA'50.. 9 StL&SF 4158’78, 28 StL SF 48'T8ct st 23 StL&SFEsB'50... 6§ San A& AP 4s’43. Sao Paulo 8 Sao Paulo 88 X Saxon P W 6158’51, Saxon 7845 Serbs-Cr-S17s ki 90 ;4 6 1 5 3 10 30 17 Shell U O 68 Shinyetsu 6% Silesia Prov 7s '58. 69 38 43% 9 9634 102 63% 45% 6815 41% 61 - 20% 24y 26% 2 105 103y Skelly Of1 5355°39. Sou Bell T&T 55'41 Sou Pac col 4s'49. . Sou Pac rf 4 2 SouP 41%5'69 ww Sou Pac 4%5'81... 25 Sou P&OT 4138ATT -4 € Sou Ry gn 4sA'56.. 25 Sou Ry &n 68 '56 3 Sau Ry 6%3s PR | Sou Ry M&O4N'3S. SW Bell T 52 A '5. StOIl N J 6546 SEOIN Y 415 ¥ Studebaker 63 °42... ‘58 Sweden 515854, 11 Swiss 6%s"46..... 12 1 Tatwan E P oy%w'11 § Teny E1 P 68 A '47.. 9374 Union EI L&P 5857 30 100 7... 25 96% UnPacts '68ueme .§ B . SHORTAGE 15 SEEN i « | producer, and the military operat 96% Ygstn S&T 5 A'78. Value of Staple More Than $100,000,000. Special Dispatch to The Star. NEW YORK, March 21.—Record raw sugaAr trading here reflects the belief that the present world crop will be 1,991,000 tons below estimated needs. This has caused speculators to rush for raw and refined sugar. Their bidding has added more than $100,000,000 to market values of the present crop in recent sessions on the New York Coffee and Sugar Exchange. Discussions of a sugar allotment plan, | Hudson the possibility of revision of the Amer- |in ican tariff on that commodity, indica- tions of a Cuban segregation mqm jand a sharp reduction in Java's 1934 j 0B are parts of the world sugar pic- | ture. 1 Like an unusually intricite piece of Jig-sawing, the allotment plan, designed to parcel out the sugar market among the various sources of American supply, fits into the world sugar scene. Our isugar comes from six sources—domestic beet and cane; duty free sugar grown |in Hawaii, the Philippines, Puerto Rico, and Cuba. Quota Program Considered. Confreu is now considering some | way of working out & world sugar quota program. Meanwhile the Tariff Com- | mission is studying dats on sugar pro- duction costs, both refined and raw, and will start to write & report recom- mending duty changes. This report may not be ready for some time. Cuba remained out of the American market as a seller of raw sugar while 1t was selling around .65 cent a pound. The _market bulge, which began elrly]‘ in February, however, caused Cuban raw to be sold at .75, though real offerings did not come in here until the price reached .87. During the 10- | day shutdown of the local sugar ex- change Cyba sold some raws here at 1.05 cents s pound. The trade hears that Cuba may segregate part of her present crop and hold it until prices in this market reach 150 cents a pound. Meanwhile, Javanese production is looked upon as the key plece to & jig- saw puzzle. ‘Next year Java intends to plant only enough cane to produce a crop of 500,000 tons. It now has the largest carryover of any sugar producer in the world—2,447,000 tons for the r ending March 31, 1933, against 1,982,000 tons a year ago. - The huge Javanese carryover results| from a lessened demand from British | India, which is the world’s largest sugar in the Far East, as both China and Japan buy most of their sugar from Java. Although India consumes all of its own sugar, it often is forced, de- pending on the size of its crop. tagim- port the commodity. It purchased 811,000 tons in the 1931-1932 crop year. i Crop Rotation Planned. Java, in view of the large carryover— | which compares with 1,600.000 tons for | Cuba as of January 1, 1933—plans to rotate its crops. In place of sugar cane |1t will plant rice, maize and padi m; 1934. Beet growers in America have not| indicated _intentions of increasing | plantings this year. With the exception of Germany, this also applies to Euro- n beet sugar growers. Before 1832 rmany exported sugar, but that crop was so small that it had to import sugar, a situation which it will correct in_the present growing season. Russia, despite the success of its five- | year. program, is not producing enough sugar for its own use. A Soviet| restraurant menu brought here recently showed tea listed at 5 kopecks and sugar 30 kopecks. fore the present advance in raw | sugar got under way in February, th\i‘ column on January 26 directed atten-| tion to the prospective shortage in. world sugar this year. Then it was | emphasized that total sugar in this | country did not exceed 500.000 tons. | | Sugar supplies, like any other com- modity whose prices are declining, were | permitted to run low. Trading Expands. Sudden realization of the smallness | of invisible supplies brought a rush for | refined, which the refiners refused to jsupply. Today the trade estimates not | more than one-half the offered book- | iings were accepted by refiners during I the last 10 days. With the l932-1fl!3i crop at 24.153,000 tons, against 26.-| 426,000 in 1931-1932, and with con- sumption at 26,144,000 tons, against 26,706,000 in the preceding year, there | | was reason enough for actual users of | sugar to replenish dwindling inventories. | “Sugar trading last Saturday on the local exchange reached 44,800 tons, the highest for any two-hour session in .three years. The average five-hour | session turnover for the last year has | been only 20,000 tons. The increased ! activity, with a consequent quickened flow of brokerage commissions, explains the rise in price of sugar exchange | memberships from $3,200 on March 3 to $4100 on March 14. Today one seat was offered at $5,000. (Copyright. 19 o ! SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co.) ) Col ok Bervice. §28 1930 Grand Trunk @s 1936 Great Northern Ry. 7s 19:6 Keystone Telephone Laclede Gas Light 5s 1034 .. Foulsylie &t b 32 1850 o1 nt. & H. 3 YN T B L 43 1D Sales. High. UnPacrf 4s2008.. 1 87 Un Pac 4%5'67. 3 Un P 1st rf 5s 201 Unit Drug 58 '53 U S Rubber 5s " UnSt W 6%s A4 Un St W 6128 A'5’ i Uruguay 6s'6 Uruguay 656 Utah P& L 58’44 Uil Pw 58’59 ww.. Util Pow 535 '47.. Vanadium St 5841, Vienna 68'52...... a Ry 18t 55 A"62. | Va Ry & Pw 5834, ! wabash1st 5s'39.. ‘Wabash 58 B ‘Wabash 5387 | Walworth 65 A ‘Warn Br Pic Warn Quin 6s°39.. ‘Warren Bros 6s'41. ‘Warsaw 78°68..... ‘West Sh 1st 4s 2381 West E1db 5s’44., ‘West Md 1st 45 '53. ‘West Md 5%s'77 ‘West Pac 58 A '46.. ‘West Union 6s'51.. X ‘West Union 58 '60 e 5 ol " CANROR NN OR ORaN aBaw -4 ..o 21 Wh&LEcnds'49. 2 Wil-O 1st 6155733, 1 Yokohama és 3 A5': 4L . 26 58% 5% Ygstn S&AT 58 B'70. 8 5T% 67% INLIGHT TURNOVER Public Utilities and Oils Dis- play Weakness, but Losses Are. Small. BY JOEN A. CRONE. Special Dispatch to The Btar. NEW YORK, March 21.—Weakness of public utility and petroleum shares featured the Curb Exchange today, re- sul tone in most of tl Electrlo Bond & , Was about a half point. Ni Power, which broke 1% points final deslings Monday, was steady today, even after Gov. Lehman's state- ment about utilities. Standard Oil of groups stood out. They were food, speciality, motor and air securities. Most of the utility offerings converge around a few shares, such as Electric Bond, American Gulf oil Oil group met a larger sup- ply. Humble Oil and Standard Oil of Ohio, however, moved against the gen- eral trend during the third hour. American Beverage shuttled back and forth without making much headway either in point of volume or price. MONTGOMERY BANK IS BEING REORGANIZED By a Staff Correspondent of The Star. ROCKVILLE, Md., March 21.—A re- organization of the Montgomery Coun- ty National Bank, which has been closed for all but limited phases of its busi- ness since the Maryland banking holi- day was declared three weeks ago by Gov. Albert C. Ritchie, is being affected, it was révealed here today by G. P. ‘}‘{enderwn. president of t institu- on. “We are working on a reorganization of the bank, but have not perfected our plans,” he declared when questioned about the matter this morning. “Other than that I have no statement to make for publication at the present time. The bank reopened for limited busi- ness last week end and is now ac- cepting so-called post-holiday “trust accounts,” on which no withdrawal re- | strictions can be placed; to accept pay- ment on notes and to cash checks on other banks which have reopened for full business. Gold Suppl; Increases. NEW YORK, March 21 (#) —The New York Federal Reserve Bank's gold ! statement yesterday showed a net in- crease in the county’s monetary stock of $1,296,900. This resulted from an import of $646,900 from India and a net decrease in gold earmarked for foreign account of $650,000. There were no exports. DOMESTIC BONDS. igh. Pw 415 67 1% Pow Sales in thousands. 13 Alai 2 Als) sssrnzean >t b z sezizzead g 3 eI A t-F ] FeivT SE e asmemmoat 7280832 ReE SRR S It > > @13 OB a1 SIEERERSEN el 5 H 5 Adm 85 55 x rolina P&L 55 '56 n Tl P87 00! ) a 45 a4l 6l% 61l 09000 4128 '70 A ities Service 55 'l . itles Bervice 53 66 it Srv Gas 51as 8 it Srv Pw 51 1t Sry levi e 000! 0000 163 1085, 10515 s D a5 UG Si3s A 43 834 b it 85% 0312 96% 043 2 9922990, H 29! ahy PKE 65 t Ut Inv 58 A '54 P& L 5s A 2030 e HH o3z tineau Pz" 5s en W Wk 6sB, corgia Pw B 000! g (quxl;ua“sgu?. 56 f S0 Be A 86 A BB NI DL Dk B Ot 00 O ON TS B e 5 201 1N A S ARG ST 5 =) Secemase s e B ST ™ o S b R & S FEgy E’fl 3 % spcnenic 9 1 858k 3! S ESaaE B8, EIHZEEEI o ._ e 12 011 10,6900 N DR 1 103 1230 SO I 13 O 15 28 T10 B D i« = =5 (3 ope ol Sam IS BB & RRFF s S e Ao S0 2328 2g2geLaRs 2xs! T sgeenyzeg oz:::g= 22 aS% 2 seoopszos FEF 993 2o o B "0y’ k] FEEL 5o B ¥ g b33 QQ" o =" o Bocusbuis a5 3 1000 "9y Y'Y, E2ERTIvVRTY 22 SEigl B e Y 2 = W ESEESEIRRATS LA SRR REEREER 5 < 78 B> H 25232 2 B A 25 53 4 41 95% 100 100 80 80 13% 13% 91" 90 27% i3 SEE5323222R2 8 san Sm% W B ..-“.a._...... 5005 O =, Rt H * & S538852: SR gin o1 s 47 81 #a i A ‘53 831 B3 58 A '55100 100 s 75 48 X 47 461 aan Lo AL Bit Bn w4 Stock and Sale— Dividend Rate. Add 00. High. Low. Clase. Afrlovincvic.... 3 AfrInvevpt.i..... 1 & ‘AlaGrtSoupt (3). 10s 19 Aluminum of Amer1060s 47 Alum Co Am.p£(3).100s Am Beverage...... 31 Am City P&L B 15¢. Am Founders...... AmGas&El (31).. 85 Am Gas& E pf (6). Am Lt & Trac (2), Amp Maracaibo. Am Superpower Am Super 1stpf ¢ Am Superpower pf. Ark Nat Gas (A). Art Metal Works. As80 Gas&Elec' (A Atlas Utilities wi Atlas Utll pf A (3). Babcock & Wil(1). 100 Bellanca t 1 Blue Rid Blue Ridge ¢ pf a3, Bridgeport Mach.. Canadian Marconl Carnation Co. Carrier Corp. Cent HudG&E (80 Cent States Elec Cities Bervice 108 Cities Sv P&L $6 p 50s Claude Neop Inc... & Clev El llum (1.20). 8 Col G & E cv pt(5).325: Comwith Edis (5).. Comwith & Sou wr, Cons Gas Balt 3.60. Cont Shares cv pf. Cooper Bessemer Copeland Prod In Cord Corp (10c) Cosden & Co c.0.d Crocker W/ Cuneo Press pt Deere & Co. Dow Chemigal (2). Duke Power (4).@ 50s East States Power. 1 Eastn Utll Asso(2) 50s Eisler Elec Corp... 1 El Bd & 8hare b6%. 291 El1 Bd & Sharepf 5. EIlBd & Share pf 6. El Pwr Assoc(40c), El Pwr Assoc(40c) Elec P & L op war, Elec Shareholding. Kl Sharehold pf (6) Emp G&F 6% % pf. 258 EmpireG&F 71%..1508 Eureka Pipe L (4). 508 Federated Corp 3 Fisk Rubber (n 3 Florida P & L pf(7) 268 Ford Motor CanA. 2 Ford Motor Can B. 26s Garlock Pack(40c). 4 General Aviation.. § Georgia Pw pf (6). 508 Glen Alden Coal... 1 Globe Underw kise Gold Seal El new. . Goldman Sachs. Gorham Inc pf. ... Grt A&P T n-v(17). Gulf Ofl of Pa Hall Lamp (k10c). Hecla Mining. . Hudson Bay Min. Humble Ofl (2).... Imp Ofi Ltd cou 50¢ ImpTab Can t5213¢ Indus Finance ctfs Int Petrol (1)..... Int Satety Raz (B} ntUHLA.. Int Util B Interstate Eq cv pf. Inters Pwr(Del)pt Irving Afr Ch (40c) Italian Superpw A. Kleinert Kress SH sp pf 60c Lake Shore M (2). . Lehigh Coal&N 40e Lone Star G bé4 - S T T T A o aN © s [SYSE-2¥S | Long Ts Light(40e) Mass Util Asso is Bottling A.. ead Johnson (3). 4 Middle West Util.. 16 Mount St T&T (8). 10s New York Cotton Special Dispatch to The Star. NEW YORK, March 21.—Cotton prices here today opened lower, following the dull market in Liverpool. Opening quotations were: March, 6.39, off 3. May, 6.42, off 4; July, 6.58, off 3; October, 6.79, off 2; December, 6.93, off 3; January, 7.03, off 4. Grain Market By the Associated Press. CHICAGO, March 31.—Grain prices averaged lower early today. Unc tainty over proposed agticultural men-l ures at Washington, together with fear of further liquidation of future delivery wheat holdings by Government-financed agencies, had a bearish influence. %al2 down, wheat rallied & Corn sta; to 13a% off and subsequently vanced ”‘Rmnt advance of wheat pri wi ices gy n and oats was Wintry weather over corn belt likely to retard the move- ment of s§° Es raiEiecn S LIRSS B0 R A SEISEERRERSEY s St ) assg Ej 222, = VA Do Nw Divo D] 2 iy ey BINAFRIVI2A! £I22REB23 Gois wieiea Smary als ke 5 ; £ ? a | Pan Am Airways " Quaker Oats pf (6) 20s 4 | London, ‘StSeK snd Sale— Dividend Rate. Add 00. Bigh. Low. Close. New Eng Pwr pt(§) 608 Newmont Mining. NYTelpt (§%).. Niag Hudson P (1) Niag Hud (A) war. Nipissing. . . . North & 80 Am, Novadel Agne (5).. 011 Stks Ltd (k20e) . 2 1 3 L PacG&B1stpfil. 1 . 2 4 8 1 11 Pacifie Ltg pf (¢)..100¢ Pacific West Oil. Parke Davis (1)... Parker Rust P 215. 25s Peninsular Tel (1) 50s Penroad Corp. Phoenix Secur. Pilot Radio Tube Ploneer Gold 24e. Pitts'bgh & LE 2% 1008 Premier Gold (12¢) 2 Prudential Invest 2 Pub Utll Hld war.., 1 PubUtil Hdxw.. 1 Puget Sd P&L3$5 pf 20s Puget Sd P&L $6 pf 108 Pyrene Mg 9 Quaker Oats (15).. 10s 4% 28% % 45 - 18 11 2% 85 110 Reliance Int A. Republic Gas. 2 Reybarn. . . 38 St Anthony Gold.. 20 #t Regi: 34 2 Seiberling Rubber. Belected Industries Shawin W&P (50c) Shenandoah Corp. . Sherwin-Wiil (1). Stlica Gel ct. Singer Mg Co (6 Smith (A 0).. Sou Cal Ed pf A 13 Sou Cal EdpfC1% Southern Corp’ 1 Southland Roy 20c. 5 Stand Invest cm pf 508 Stand OilInd (1).. 46 Stand Oil of Ky(1) 10 Stand Oil of Ohlo. . 200 Stutz Motor Car. 2 Sun Investinj Swige & C 5 Swilt Internat’l(2). Swiss Amer El pt.. Tampa Elec 3.2¢. .. Tech Hughes (60c). Technicolor. . ‘Tob Prod Exp(10c) Trans Alr Trans. .. Trans Lux DLPS. Utd Corp war... United Founders United Gas. . United Gas pf. United Lt& P (A). nited Lt & Pwr pf Utd Sho Mch pf 134 U S Elec Pwr %w.. Unit Verde Ext 40c 3 Utah P&L 7% cu pt 758 3 1 . 268 3 208 1008 3 3 2% kel 3% 1% 1% 1w 1% 174 3w 113 30% kel 2 22% 1w 4 5 1908 8 UtilP&L pt (1) Util Equities pf 5% 308 Util & Industrial.. 1 Walker (Hiram). . a 30 1 40 % 57 West Mass Co 2.40. 2 Woolworth (F W) Ltd (p24 2-5¢). Wright Harg 1 28 13% 134 13% A 3% 3% 3% Dividend rates In doliars based on last Quarterly or semi-annusl payment. *Ex dividend. tPartly extra. fPlus 4% in stock. 8 Payable in cash or stock. b Payable in stock. e Adfustment dividend. fPlus 5% in stock. g Plus 6% in stock. hPlus 1% in stock. {Plus 2% in stock. k Plus 10% in stock. mPlus 3% in stock. n Plus 8% in stock. id last yesr—no regular rate. 28 Sugar Price Advanced Further. - NEW YORK, March 21 (#).—Several more sugar refiners today announced price advances of a tenth of a cent per pound in refined, bringing the quotation % 4.30 cents. FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal gold Selling checks 3,490 Paris, russel Berls 2 to 4 points | Stoc but steady 1% | | been investigated. FOREIGN BUSINESS Manufacturers Plan to Send Sales Agents to Distant Countries. BY CHAS. P. SHAEFFER, Asdociated Press Business Writer, American industry is viewing with considerable the tuture of its the Commerce Department can be re- 3 1 | garded as a criterion. Last week there were 115 communi- agents for a wide range of Amer- ican-made products in nearly every country in the world were included Only one of the firms inquiring desired | to transfer an existing agency, the | others seeking new outlets. Most of the | requests Teceived were for agents in | Latin America”and in Eu | Recently the department suggested ium American firms having foreign connections should make every effort to maintain these foreign outlets, even during stagnated business, in order that the foreign point of distribution be kept available pending an upturn in trade. | A manufacturer of jigsaw puzales re- quested the department last week to furnish names of agents to sell his wares in 31 countries. Sixteen requests were from makers of safety razor blades, 15 from t manufacturers, 15 for agents to sell groceries and other packaged goods and 9° for agents to handle textiles such as wearing apparel and piece goods. Requests were also received to find suitable foreign agents for radios, au- tomotive equipment, cash registers, electric ventilating machines, insecti- cides, machine tools, kitchen utensils, pins and road-building machinery. In answering requests for information on sgents the department supplies the names of qualified persons in each sales area whose business references have MINISTER REPORTS SWISS FAIR READY The Minister of Switzerland has re- | ceived word from the consolate general |in New York stating that the Swiss | Industries Fair will be opened on March 125 at Basel, the exhibition to remain |open through April 4. A telegram | states that the fair promises to be a | greater success than ever, many new | products having been offered for buyers' | inspection. Particular interest has al- |ready Been shown in special exhibi- | tions of watches, sporting goods, office equipment and buildipg materials. | 'In the past Americans traveling in Switzerland have visited this fair in large numbers. Many are expected again this year, the appeal being largely | to buyers for American stores, { —_— ! Gain in Employment. | CHICAGO, March 21 (#).—Howard | B. Myers, chief of the State Division | of Statistics and Research, yesterday | reported that 1,571 industrial establish- ments in Illinois during February in- creased employment 1.3 per cent and pay rolis 1.9 per cent. CUMBERLAND BOND ISSUE. | . BALTIMORE, March 21 (Special).— An issue of $225,000 of City of Cumber- land, Md., bonds was awarded yesterday | to Phelps, Fenn & Co. of New York, on | high bid of 100.57. The bonds have 4!y per cent coupons and are due in |1963. The next highest bid, submitted by a group headed by the Mercantile | Trust Co. of Baltimore, was 97.65, and | the third bid was 93.81 per cent, sub- |mitted by Chase, Harris, Forbes Cor- poration of New York. The wide dif- ference in the offers made was widely commented on. WHEAT SUPPLY DECREASES. NEW YORK, March 21 (#).—The visible supply of American grain shows the following changes, in bushels: Wheat decreased 3,304,000, corn de- creased 412,000, oats decreased 483.000. \;};% (fimm 46,000, barley decreased | ‘Wage Increase Granted. BONNER SPRINGS, Kans, March 21 UP)—The Lone Star OCement Co. announced a 10 per cent wage increase for employes, effective at once. Colablished 1904 RANDALL H. HAGNER & GOMPANY INCORPORATED RRAL ESTATE N? 133 Connactiot Soonua NV Competent Management of Rental Properties in All Sections of the City We are prepared to a ct promptly on appli- cations for Loans on Real Estate in the District of Columbia. No Commissions Charged. We Pay 5% to Investing Members Columbia Building Association 716 Eleventh Member of Building Street N.W. Association Council of the District of Columbia’