Evening Star Newspaper, April 10, 1933, Page 15

FINANCIAL. BOND LIT SHONS * FIRMER TENDEACY Low-Grade Rails Improve. Utilities Also Reg- . ister Gains. B S F. SPEARE. Special Dispatch to The Star. NEW YORK, April 10.—The feature of today’s bond market was a more| uniform trend to prices. The irregular- ity of the past two weeks was replaced by a general show of strength in the domestic list. Nearly all of the low- grade rails were higher. Substantial gains occurred in a number of indus- trials and public utilities. High-grade issues were also strong. In the railroad list there was an advance of 2 points in Northern Pacific 6s, of 1% to 12 points in New York Central and Erie junior mortgages and the same in Southern Pacific and Southern Railway loans. Smaller gains ‘were registered in St. Paul, Rock Island, Great Northern and Missouri Pacific is- sues. The expectation that the rail- road bill will be announced tomorrow had some effect on securities of this ‘The recent strength in the shares of the oil producing and refining com- panies extended to their bonds, such as Texas Co., Pure Oil and Phillips Petro- Jeum. More speculative interest in iron and steel stocks also benefited the senicr obligations of such concerns. ‘Youngstown Sheet & Tube 5s advanced 1% points and Vanadium Corporation 5s were up 3 points. Western Electric 5s gained about 2 points and are now 6 points from their low cf lost week. American & Foreign Power 5s and North American Co. 5s rallied mod- erately, While Consolidated Gas 5s were firmer, both the 5!, per cent and 5 per cent debentures of American Tele- phone & Telegraph were heavy. In the German list the Government 5%s held strong and at one time were up nearly a point. In contrast was the loss of over a point in the government 7s and weakness in nearly all other German dollar loans. Austrian 7s ad- vanced nearly 2 pcints. There was & slightly better tone to South American descriptions, particularly Brazilian 6Y2s, ‘which rose 112 points. ‘The market for United States Gov- ernment bonds gave no hint of the ‘Treasury policy fcr refunding the Lib- erty issues. The fourth 4ls were oted at 102%, with no net yield on ! lem at this price. The discount bonds acted rather better than the premium issues, advancing '3 to about 4. Figures of new financing for the first three months of this year show that cnly $100,000,000 of new capital was in this period by corporations and municipalities, with an additional $85,- 000,000 in refunding operations. ADVANCE IN COTTON SCORED DURING WEEK BONDS 2e NEW K EXC NG YORK HANGE Recelved by Private Wire Direct to The Star Office. UNITED STATES. (Bales are in $1.000.) High. ' Low. Lib3%s 32-47... 101 10112 Lib 1st41§s 32-47. 102 9 101 6 Lib 4th 43¢5 33-38 10213 102 § U 9620 9616 98 13 100 27 100 31 Sales. High. Low. Abitibi P&P 5s’53. 3 12 11% Alleghany §8'44,.. 6° Alleghany 5549 Alleghany &5 '5! | Allis-Chalm 5837 | Am F P 55 2030 | Am IGChb%s'49. | Am Metal 5%s"34. Am Sm&Ref 5847 Am Sug Ref 6537, Am T&T 4%s'39.. 5 Am T&T c tr 53'46. 2 Am T&T deb 55 '60. 32 Am T&T deb 55 '65. 47 Am T&T 5% 4 Argent 65 '61 Argentine 6s Argentine 6s A '57. Argentine 6s B '58. Arm & Co 4%8°39. Arm Del 5% '43. Atchison gn 4s'95. Atchison 4% '48 AtICL1st4s'52.. At1CLcol 45'52.. Atl Ref db 5837, Australia 41 Australia 53 Australia 58 Austrian 7 Austrian 7 B&O4%s'33 B&O 4%s'60 B&O1st5s'48. B & Oref 58'95. B&Orf5sD 2000, B&Orf6sC'95... 31 B&08wdvis's0. 8 B&OP&WV4s'4l 2 Belgium 6s 55..... 10 10 2 22 12 35 15 15 8 1 » Rarvan » 2 an 2 » wanla avedfeoss 9214 Belgium 6 gium 7 1025 102% Bell Tel 3 104% 104% Bell Tel Pa 55 C'60. 1 103% 1031 BerlinCy El 6s'65. 14 30 28% Berlin 638’50 37% Berlin CEl 6148'51. 4 Berlin CEl 6345'69. 40% Beth Stl 7t 55°42. .. 414 Bolivia 75 '58. 3% Bolivia 7s "69. 3% Bos & Me 5555, 55 Bos & Me 53°67. 56 Brazil 6%4s '26-'57. 23% Brazil 6%s'27-'57. 24% Brazil CR 7852 21 Brazil 85 '41. Bklyn Ed 5s A "49. BKlyn Elev 6343, Bklyn Man 65 A ‘63 Bklyn UnGas §s'45. Bklyn UnGas 55’57 Budapest 63 '62. BR& Pitts 438 Bush T Bidg 55'60. Calif Packing 5s'40 Canada 45°60. Canada 43 Canada 5852, 7 10 2 e 1 1 1 13 11 8 2 24% 24 3 104% 104% 2 38 38 50 87 86 3 106% 106% 3 1021 1021 4 27% 38% 20 69 80% 95% 95% 81% 81% 81 Can Nat Ry 438’68 80% Further Increase in Demand May Carry the Market Into Much Higher Range. By the Associated Press. Unless _contracts become decidedly more plentiful, any further broadening | in the demand for cotton may carry the current advance into still higher ground. Prices jumped as much as $2 a bale during last week, ana_recapitulation showed values generally 25 points ahead of recent levels. The average price of middling %-inch was quoted at 6.42 cents a_pound, compared with 6.16 a week 8go, and the May future ranged from 645 at New Orieans to 6.53 at Chicago. Present prices are higher than at any time since early November with the ex- ception of March 16, when the ex- opened after a 10-day holiday, and are about 70 points higher than for the corresponding period of a year ago. It is a question whether the rally has been sufficient to attract realizing sales. So far there has been no par- ticular selling pressure, but some ob- servers say there are signs of a little more Southern selling. LEHMAN MAKES PLEA . FOR BIG RELIEF LOAN By the Associated Press. e ¢ ALBANY, N. Y., April 10.—Declaring that “4t is unthinkable that the work of relief be abandoned” and that “it must continue,” Goy. Lehman has called upon the New York Legislature, now close to its end, to pass a bill for a n:w mnuo‘gog bond issue for un- ployment relief. £ Reaching its peak during the past ! “Winter months with distribution of ‘funds at the rate of more than $10- 000,000 & month, New York State al- ready has spent $75,000,000 on unem- loyment relief since the Summer of 931, when former Gov. Roosevelt called the Legislature into extra session for the creation of the State temporary ‘emergency relief administration. Of the $75000000, a total of $20.- 900,000 wzs obtained in loans from the Reconstruction Finance Corporation, $20,000,000 was raised by increasing the income tax, $30,000,000 was voted in bonds and $5,000,000 appropriated from current funds. Virtually all of the $30,000,000 voted last November had been spent several | weeks ago since when the State has pbtained avproval by the Reconstruction | Finance Corporaticn of loans for the | building of public pra . Washington Stock Exchange SALES. Potomac Electric 6% pfd.—5 at 108. Potomac Electric 512% pfd.—2 at 107. Washington Rwy. & Elec. pfd.—5 at 83, 5 at 83. AFTER CALL. Capital Traction 55—$1,000 at 40. Washington Gas 55 '60—$1,000 at 104. Washington Rwy. & Elec. pfd.—10 at 83. Potomac Electric 5% pfd—5 at 106, 5 at 106. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Bid, Asked. Tel. 108% 48 '30 Te B etl. tr Anacostia & Pot. R. R. bs 2 & Pot. Guar. 85 C. & P. Tei. of Va, 53 Capital Traction K. R City & Suburban 35 Georgetowr. Gas 15t bs.. Potomac Elec. Cons. 5s. Potomac Elec 6 Pashington Gas 5 Amer,_Tel. & Am. Tel. & Wa. Wash lumbia Country Club D er Mfg 65 Wash. Mkt. Cold Storage & STOCKS. PUBLIC UTILITY. el. & Tel, - Capital Traction Co.. Wash.. Gas Light Co. (3.60).. N. & W Steamboat.... .. t. Elec. Power 6% pfd. ... Bo c. Pwr. 5'a% pid MISCELLANEOUS. Can Nat Ry 4% 8’56 Can Nat 5s'69 July Can Nat 5s '69 Oct. Can Pac 4%s Can Pac 4%5'60. Can Pac 55 ‘5 Cent 111 E&G 55 '51. 10 Cent Pac 1st 4549, Cent Pac 5s 60.... Cert-td db 5%s '43. Ches Corp 58 "47 C&Opgen 4%s’92 93% 20 102% 5 88% 93 102 88 6 2214 39 41% 2 1 CM&StP gn 45'89. 1 CM&StP4% '89... 2 C M StP&P 58'75.. 40 CM&StP ad 552000 76 Chi& NW gn 48'87. 4 CRI&NW 43%s 2037. 10 Chi&NW 43;sC'37, 5 Chi & NW 4%s'49. 112 Chi& NW 6%s'36. 1 Chi RI&P rf 4s ChiR1&P Chi RI4%. CTH&SE in 58 Chi Un Sta 4% Chi Un Sta 5s B'63. Chi Un Sta 6%5'63, C& W Ind cn 48'52. C& W Ind5%s'62. Childs deb 55 '43 Chile 65°60..... Chile 65°61. . Chise 65°61 Jan. Chile 6563 Chile 75 *42 7 'hile Cop db 58 '47. 'hi Mtg BK 63/61. Cin Un Trm bs 2020 CCC&St L 4% sE'TT Clev Term 4%s '77. Clev Ter 6%sA'72.. ‘50 1 Colon O11 65°38...... Colo & Sou 43 s ‘80 Col G&E 55 '52 May Col Gas & E 53 '61.. Com Inves 5345 '49. 1, Con GasN Y 65 '57. Con G NY 6%s Con P Jap 63550, Copenhag 4%s '53. Cuba 518°45....., 1 Cuba RR rf 7145'36 Cuba Nor 5%8'42. . Cuba R R 15t 58’52 Czecho 85 '51 : Czecho 85 ‘52 Del&Hud ref 45’43, Denmark 4%s Denmark 5%s Denmark 6s'42. Denver Gas 53 '51 D& RGrcn 4s'36 D&RG W 68'65 D&RG W 5878, Det EA4%sD'61.. Det Edison rf 5549 Det Edison 58 '55. .. Dodge Bros 6s * Donner St1 7 Duquesned 3 sA’67. Dutch East I 65’47, Dutch East I6s'62. East C Sug Erie Con 4i Eriecv 4s A'53. Erie gen 45 '96. Erleref 55 Erieref 55'75 Finland 5%s'58 Finland 6s ‘4 Finland 6%s ‘56 Fla E Coast 55'74.. French Gv 7%s'41. Gen Baking 6%5'40 Gen St Cas 5454 Ger Cent Bk 65'38. . Ger Cen Bk 65 '60 J Ger Cen Bk 63 '60 O Ger Cen Bk 75 '60. . Ger Gen Elec Ger Gen K1 7 | Ger Gov 5igs” German 67 German R 6114 Goodrich 63 45 354 i 6 Goodyr Rub 55'57. . 715 Grand Trunk 7s'40. Gt Brit&Ir %837 Grt Nor 4145 D '76. Grt Nor 445 Grt Nor 518 B Grt Nor gn 78’36 Greek 65°68.. Hud & M adj 65'57. Hud & M rf 5s'57.. Humble Ol 55 °37.. 111 Bell Tell 6s 56 3% 73 101 . 100% 95% 94% 99% 991, 1035 102% 41% 40 624 4% 16 14% 17% 90 89 70 3 6015 4% 121% 404 4214 " 98% W 1042 6 102 merson Bromo-Selz. . ston Monotype .. Mergenthaler Linotype Real Estate M. & . pld dwd. & Lothiop com. (1. dwd. & Lothrop pf SEx dividend, .BBooks closed. n3be extra. 00 emira. exira. HLN 5 103% 103% 9 40 40 504 33 424 978, 69% 56% 50 20 Il Cent cl tr 48 . 111 Cent ct tr 48 '52. 111 Cent 4% s '66. 11l CCStL&N s 111 Steel db 43 Inland St 435 In* Rap Tr rf 5566 Int Cement 5s 48.. 2 Int & Gt Nor 6s'52. 2:55. 0 2:85. 1% 28 99% 1 ¢ 4% 8 87 106% 1021 27% 33% 21% 69 81 95% 95% 81% 2 10 3 17% 90 89 80% 84 934 6% 00% | 983 984 8% 70% 40 45% 25 25 61 6015 4 122% 98% 10414 Int Hydro El 65'¢44. Int Pap rt L 6s A'47. 47. IntT&T4%s8'39,. IntT&T4%="52 Int T&T 58’55 Italy 7s'51. Kan City Sou 55'50. Kan C P&L 4% Kan City Sou 3 Kan G&E 41580 Karstadt 6s '43. Kend 5%s 48 w Kresge Found 6536 Laclede Gas 5s°34. Laclede 535 C'53. Lautaro Nit 68 '54. Leh Val cn 4s 2003, Leh Val cn 55 2003, Lig & Myers 55'1. Lig & Myers 78'44. Loew's 65°41. Long Islrf 4s'49.. Lorillard 7s'44. La & Ark 53°69. L &N uni 45 '40 L& N 4%8C 200 Lou G & El 55 A'52. Lyens McKes & R 5% 5'50. Manhat Ry cn Market St 7s A "40. Marsellle 6s'34. ... Midvale Stl 55 '36 Milan 638 '62. . Mil E Ry&L 55 '61. Mil E Ry&L 58 '71. MSP&SSM cn 4s 38 MSP&SSM 5%s'78 MK &T 1st 4s'90.. MK&T58A'62. .. MK & Tadj 5s'67. Mo Pac gn 45°75. .. Mo Pac rf 55 A '65 Mo Pac 5s F '77. Mo Pac 55 G '78. Mo Pac 5s H '80. Mo Pac 55 1'31. Mo Pac5%s A Montevideo 7s 52 Mont Pow bs '43. .. Mor&Co 1st 4%5'39 Nat Dalry 5%s'48. . Nat Steel 5556 N Eng T 1st 55 52, NOT&M5sB'54. Nw S Wales 55’51 Nw S Wales 5s'#8. . N Y Cent3%s'97.. N Y Cent 45’42 N Y Cent db 45 '34. N Y Crf4%s2013. N Y Crf434s2013n NYCrfbs2013... Y Cent db 6s '35, NYC&StL 4%s5'78. NYC&SL5%8A'T4. ¥ Edison 53 E'44 ¥ ¥ Edison 5s C'51., Edrf6%s 41, EL H&P 48’49 NY EL H&P 5s'4 NY NH&H 4%s '67 NY NH&H clt 6540 NY O&W gn 55 NY Rys 6s A '65 N ¥ Steam s '56 N Y Tel gen 4%s ‘39 NY W&B 4%5'46... Nord 6% 50 Nor & Wn aiv Nor & Wn cn 45 '96. North Am Co 5561, Nor Am Ed 58 A’57 Nor Am Ed 55 C'69. Nor Am E 548’63, Nor Ger Ltd 6s 47, Nor O T & L 65 '47. Nor Pac gn 35 2047. Nor Pac 4% 8 2047, Nor Pacr 1632047, Nor St Pw 55 A "41. Nor 5t Pw 6s B '41. Norway bs Norway 5%s 6 Norway 6s'44. Norway 6s'52. Ore Sh L 6s gtd "46. Oreg-Wash 45 '61. . Orient Dev b%s '58 Orlent Dev 63 '53. . Pac G&E 55 '42 Pac T&T 1st 65'37. Pac T&T rf 55 '52.. Pan Am Pet 65 '40. Param-Pub 5 %s'50 Pathe Exch 7837.. Penn 4% s D81 Penn 4%5 D '70 Penn 55 ‘64 Penn gen 55 '68 Penn cn 4% '60. Penn 6%s ‘36 Penn gn 4%s Penn P&L 4% Peop Gas ref Pere Marq 4%s'30. Peru 65 '60 Phila Co 556 Phila Elec 4s 71, .. Phila & Read 6549 Phillip Pet 53 '39 PCC&StL §s B'75. Poland 6540 Poland 7s 47 Poland 85 '50 Port Gn E14% Por RAm T 6s'42 Pos Tel & C 53 '53. Prussia 6s '52. Prussia 6%s'51.... Public Serv 4s'71. Pub 8v G 4%s 6 Pure Ol 5% s '37 Pure Ofl 5% 5’40 Queensland 65 '47. Queensland 7s'41.. Read 4%s A '97 Rem Arms 65 A '37. Rem R 534 8A"4Tww Rhinelbe U 78 '46. . Rhine West 65°52. Rhine West 65 '5 Rich Oil Cal 65°44. RGrdoSul 6s'68. . RIAP& L 4%s'34. Rome 6%s 52 . Royal Dutch 48 "45. Rumania 7s '59. StL IM R&G 4 StL&SF 4% StL SF 4%s'78ct st StL SW 1st 68 '52.. StP Un Dep 58 '72. St L&SF 45 A '50... Sao Paulo 78 '40. .. Sao Paulo 88°50. . ., Saxon P W 634551, Saxon 7845, .. Serbs-Cr-S17s'62. Shell U Oil bs 47, Shell U O 55 49ww. Silesia Prov 7s '58. Sinc Oil 6% s B'38. Sinc O11 75 A '31 Sine P L bs 42 Skelly Ofl 53539, Sou Bell T&T 5541 Sou Pac col 4549 Sou Pac rf 45 '55 I SouP 4%s'69 ww. |sau Pac 4155 '68 Sou Pac 4%s'81. .. Sou P&Or 4145A'77 Sou Ry gn 4sA’36. . ou Ry bs '04 S Sou Ry gn StOII N J 5546 StOIINY 4%s'61. Studebaker 63 '42.. Sweden 534564, .. Swiss 5%s 46 Taiwan E P 514871 Tenn Cop 65 B 4. . Tenn EI P 65 A '47. Tex Corpcv 58 "44. Tex & Pac 55 B 17, ! Tex&P5sC'T9... | Tex & Pac 58 D 80. Third Av 1st 58'37 274 | Toklo 5% s '61 101% 101% | Tokio E1 Lt 6s'53.. 18 103% 40 504 3414 424 97% 69% 567 51 20 Third Av rf 45°60. . ‘Third Av adj 68'60. Tob P NJ 6%s 2022 Union Bl L&P 65’57 Un Pac 18t 45 '47.. Un Pac 48°68. Un Pac rf 4s 2008 Uait Drug 68 ‘63 U S Rubber 63’ Un St W 6348 A'47, Un St W 6%8 A'51. Urucuay 65 < Utah P & L 5844, 3 .10 1 . High. Low. 24 2T% 26 2 40% 35 3 12 11 1 26% 26% 23 274 26 21% 21 Somaens = oo - DD AN DR D 109% 109 122 122% 58% 58% 84% 827% 110 110 24 24 82 82 67 67 98 97% 101% 101% 24% 24 101% 101t 82 82 8414 83% 65 64 64% 64 24 24 37 37 41 TdY% e © 5200610 %0 © 0000 B 23% V3% 171°V1y 65 65 9% 9% 80 9% =N SoadcuerTuaSaSaorrua % 103% 103% 04 103% 4 110 98% 4 106% 0 49 59% 47 o » - EISTTTSTA=TSEPNETS: 19 PG - 13 96% 96 5 101% 100% 19 63 621 6 1024 102 1 42 63 24 0415 104 8 104 1034 8 94 941 18 24% 23 6 9285 91 14 1064 104% 12 43w 42% 2 0 1 14 11 100% 100 16 2:55. 26% 35 12 26% 27% 21% 22% 97 88% 52% 83% 47 STAR, WASHINGTON FINANCIAL CIRGLES MORE OPTIMISTIC Pessimism Following Bank Holiday Is Being Dissi- pated in Wall Street. BY CHARLES W. STORM. Editor, the News Service of Wall Street. NEW YORK, April 10.—A better feel- ing prevails in the financial district with regard to the future of general business and the stock market. This improvement in sentiment is perhaps due largely to the fact that the pes- simism which resulted from deflation of deposits following the bank holiday is being steadily dissipated. The Street is looking forward with greater confidence to the future chiefly because of the constructive efforts al- ready made by the administration and the latter's unceasing efforts to rehabili- tate general industry and trade. ‘The concentration of efforts at Wash- ington toward increasing employment is particularly gratifying to the financial district. One of the most important influences governing the stock market is the re- vival of expectations in the Street that there will be inflation. Irrespective of what method is used, the Street seems convinced at the mo- ment that inflation is ahead and this accounts largely for the increased ac- tivity and strength of the stock market the latter part of last week. Some important banking interests were reported as buyers of stocks on Saturday, and this buying is believed to have been the best that has appeared thus far this year. (Copyright, 1933. by North American News- paper Alliance. Inc.) RAIL EARNINGS GAIN IN SOUTHERN AREA Operating Incomes Pick Up in First Two Months of 1933, Latest Survey Reveals. Class 1 raflroads in the Southern dis- trict for the first two months of 1933 had a net railway operating income of $6,060,$45, which was at the annual rate of return of 1.14 per cent on their property investment. For the same pe- riod in 1932 their net railway operating income amounted to $3,420.076, which was at the annual rate of return of 0.65 per cent on their property invest- ment. Gross operating revenues of the class 1 railroads in the Southern dis- trict for the first two months in 1933 amounted to $60,614,354, a decrease of 12.5 per cent under the same period in 1932, while operating expenses totaled $47,406,333, a decrease of 18.4 per cent. Class 1 railroads in the Southern dis- trict for the month of February had a net railway operating income of $2.- 943493, compared with $2,701,321 in February, 1932. Grain Market By the Associated Press. CHICAGO, April 10. Notable strength developed in wheat values Jate today owing to reports of dust storms southwest and because of evening up for the Government April report. Prices advanced more than a cent a bushel for wheat, and hovered und the season’s top quotations for Septem- ber contracts. Little attention was paid to inflation talk, crop news being the dominant factor. Wheat closed firm, 1-1% above Sat- urday's finish; corn, %-% up; oats, #%-1; advanced, and provisions un- changed to & rise of 2 cents. July o . September .. . New York Cotton Special Dispatch to The Star. NEW YORK, "April 10.—Opening cotton prices on the local exchange were 4 to 5 points higher today fol- lowing the better tone in Liverpool, where prices were 3 to 5 points higher. Initial quotations were: May, 6.54 up 5; July, 6.70 up 4; October, 6.92 up 5; December, 7.05 up 4; January, 7.12 up 5; March, 7.24 up 4. . Dividend Meetings. NEW YORK, April 10 () —Dividend meetings are scheduled for this week by General Foods Corporation, Conti- nental Can, Kroger Grocery & Baking, Nash Motors, Owens-Illinols Glass, Procter & Gamble and Union Oil of California. B o A D FOREIGN EXCHANGE. value. to adrid, peseta Vienna, schiliing u g ue, crown (n.) Warsaw. zloty crown | Stocknolm, i Montreal, discount Util Pw 53’59 ww. Utll Pow 5% '47.. | vanadium St 5541, Vienna 6s ‘52 . Va Ry & Pw 55 '34. Va Ry 1st 55 A "62 Va SW Ist cn §s" | Wabash 5 Wabash Walworth 6s A "45. Warn Br Pic 6s°39. Warn Quin 6539, Warren Bros 6s'41. Warsaw 78'58..... West El db bs '44. . West Md 18t 45 '52. West Md 5%s 7. West Pac 5s A '46.. West Unfon 55 '51. West Union 68 '60. West Un 618 °36. . Westphalia 6358 . W1l & Co 1st 65 '41. 314 Yokohamu 6s ‘61 18 Yestn S&T 58 A'T8 62% Ygstn S&T 58 B'70. AFTER EARLY GAIN Utilities and Oils Maintain Most of Advances Scored af Opening. BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, April 10.—The initial burst of speed on the Curb Exchange today was followed by a period of slack- ened activity and slightly lower quota- i tions. Electric Bond & Share was up about a half point at midday. Citles Service ‘was not much changed. Standard Oil of Indiana firmed fractionally, as did Niagara-Hudson Power, American Su- | Perpower and Cord Corporation. News over the week end was encour- aging, particularly from seasonal pro- ducers, automotive manufacturers and steel mills. Prospects of railroad relief, farm legislation which would tend to help food prices, and international dis- cussions which would lift trade barriers nlalon were hl‘fl:g l; Léonstructfive. some of the ussions abouf Muscle Shoals bill there was lzh‘lgi that electric light rates in the future might be measured by power prices from that source. This explains why public utilities, as compared with foods, specialties, motors, stores and petrole- ums, were inactive and somewhat ir- regular. Great Atlantic & Pacific Tea, widest mover in the food classification, quick- ly rose 5 points. This contrasted with a drop of 3 points in the inactive Northwestern Yeast. National S was dull in comparison, with its ac ity the last two weeks. “The two Switt issues, as usual, led the meat packing gmres. Ctrmnox‘:d Co. and American everage were virtually unchanged Mead-Johnson was up about a 11-5.e Deere & Co. was whirled while trad- ers awaited the Government grain re- port, to be made public after the close today. Safety Car Heating & Lighting was bid up to new heights for the year. A. O. Smith Corporation swiftly rose 3 points. Aluminum Co. of America hardened. Reports of improving re- tail trade lifted Montgomery Ward A about a point. Woolworth, Ltd., was dull, though steady. New Jersey Zinc advanced nearly a point. In the air shares Pan-American . and _National Aviation were up sabout the same amount. REICHSBANK PAYS BACK $17,500,000 TO FRANCE By the Associated Press, BERLIN, April 10.—The Reichsbank today paid to the bank of France its $17,500,000 share of the $100,000,000 rediscount credit advanced in July, 1931 in conjunction with the bank of England, the bank for international settlements and the federal reserve bank. The other banks will be repaid ln,é:x: neladr future. gold discount bank’s $45,000,- 000 balance of the original $50,000,000 advanced by American banks also is likely to be repaid on June 30, date of expiration. o ————— e BONDS ON THE CURB Sales DOMESTIC BONDS. in’ thousands High. Low. Noon. [ I T'Aluminum Co 55 '52. & 1Am B Fow gs A /83 4 SAmer' G & E 53 2038 5}! Hu | 25359 RRuuasugpuessh 4'2s E '60 om Edis 4s P 'S] Comnty P & L bs ¢ &Con s Blto-4s '81. Miis A P y L@ 231 a3ia 93" 93 1013 1013% 921 66 5 60 60% 5 Nat Bs 1 Nevada Calit S0 e 0 BIgR e k 55 D '57 PAL Slas A '40 L 4las i 2agny 252 10 8t i Stand 11 Stand P 5 Swift Co 4 8wift Co b 1 Tenn ElL Pow 1 Texas Gas Us ox P& L Toledo Ed 5s ¢ FOREIGN BONDS. 2 Baden Con M 7s '51. 3 n—New. wi—When issued. GURB ISSUESQUIET | [ N. Y. CURB MARKET Received by Private Wire Direct to The Star Office. Stock and ~ Sale— Dividend Rate. Add 00. High. Low. Close. Alum Co America..1400s 481 Alumn Ltd cum pf. 1 27 Am Beverage...... 7 Am Book Co (4)... 50s Am Cit P&L A(ad). Am City P&L B 15¢ Am Cynamid (B).. Am & For Pwr war, Am Founders. ..... Am Gas & El (31).. Am Gas & El pf(6) Am Lt & Trae (2).. Am Superpower, Am Superpower pf Am Super 1st p£ 6. Arcturus Radio T.. Armstrong Cor! Ark Nat Gas (A Asso Gas & Elec. Asso Gas&Elec (A) Asso Rayon. .. Atlas Utilities. .... Atlas Utilities war. Axton Fish(A)3.20. Blue Ridge pf (a3). Brazil Trac & Lt. Brill Corp A. Brillo Mfg (60c)... Buft N&E pf (1.60) Bunker Hill & S vtc200s Canadian Mareoni.. 5 Carib Syndicate. 8 Carnation Co. Celanese 1st pt Cent States Elec... 15 Chesebrough 16% . 150: Cities Service. . 48 Cities Service pt. 2 Clev El llum (1.20) 1 Col G & Ecv pf (5). 50s Colum O1&G v.t.c.. Comwlth Edis (5 Comwlth & Sou w: Comstock Tunnel. . Consol Copper..... Cons Gas Balt 3.60. Cooper Bessemer Cord Corp (10¢). Cosden & Co. Creole Petrole: Cresson Consol (4 Crown Cork Intl A. Cusi Mexicana Min Deere & Co Dow Chemical (2). Dubilier Cond & R. East G&F As (60c). East States Power. 4 Eisler Elec Corp... 3 El Ba & Share b6% 1297 ElBd & Sharepf 6. 16 El Pwr Asso A 40c. 3 ElP&Lopwar.... '8 i 24% % 1 11 1% 15% K % 7 1% v 111 21 8 % 554 [ * & 437 14 CET TSIy 3 2 2% k3 3% % % s W% 12% 13% 2 27 2% CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, April 10.—Following is today’s summary of corporation news by Standard Statistics Co., Inc., New York, for the Associated Press: Automobile Parts and Tires. United States Rubber Co.—Naugatuck plant to increase production after May 1; it is expected that 500 employes would be recalled. Coal and Coke. Pacific Coast Co.—1932 deficit, $170,- 491, vs. deficit, $316,42: Metals (Non-Ferrous.) Inspiration Consolidated Co— 1932 deficit before depletion, $1,576,~ 293, vs. deficit, $492,522. Miscellaneous. United States Finishing Co.—1932 deficit, $804,431, vs. deficit $526,212. Railroad and Railroad Equipment. Florida East Coast Railway.—Begin- ning store-door delivery service on ship- ments originating in Jacksonville; other points are expected to have similar service at a later date. Retail Trade. Interstate Department Stores, Inc.— Passed quarterly dividend on 7 per cent cumulative preferred stock; last pay- ment was $1.75 on February 1. Lane Bryant, Inc., March sales off 28.3 per cent; three months, off 22.6 per cent. National Bellas Hess, Inc.—Gross sales in quarter ended March 31 were 252 per cent above those of preceding quarter. Shipping and Shipbuilding. ‘Merritt-Chapman-Scott Corporation. —1932 deficit, $939,292, vs. net income, $310,280. . Utilities. Associated Gas & Electric Co. sub- sidiary, Staten Island Edison Co., has offered revised rate schedule which will reduce revenues about $240,000 an- nually. Penn Central Light & Power C 1932 preferred share earnings, vs. $8.68. SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co) Bid. Offer Allis-Chalmers Co. b8 Gen. Petroleum Corp. 55 1 Gen. Public Service Blas Penna. Portiand Gen. “El Republic Iron & Steel 5s 1040 e Sinclair Cons. Oil Co. 7s 1937 96 St L IMSRE R&G. ds 1 Southiern Pacific bs Union EL Lt. & Pow. 5 Union Oil Co. Calif. 55 1 Virginia Ry. & Power 55 19: Wabash Rwy. Co. 55 1030 3 0RY . 43 SILVER QUOTATIONS. NEW YORK, April 10 (#).—Bar silver | firm, % higher, at 27% on heavy specu- | lative buying. Association Main Office, 610 13th N.W. | Under Supervision of U. 8. Treasury | 14| Gen E1Ltd 20 2.5¢. < | Gt A&P T n-v(17) 1508 154 e gmmmmnmmmmwmm ' T at “THE FIDELITY,” where you will always find a friendly spirit of helpfulness and_co-operation. i @ We do not lend on specula- tive projects . . . we lend money ONLY ON HOMES, conserva- tively appraised, at present-da; naf wlulbfllti can pay our depos! 5% Compounded Semi-Annually | @ Come in and get full de- tails of our plans and methods. and Stock and Sale— Dividend Rate. Add 00. High. Low. Close. Elec P&L 2d pf(A).100s 6% B% 6% EmpireG&F 6% 6% 6% ™% 1% 1 CAUSE PRICE GAINS Large Orders for Scrap Steel Also Reported by Trade Journal. Fansteel Prod. . Fisk Rubber(new. Fisk Rub pf (new). Flintkote (A).. Ford Motor Can Ford Motor Ltd.... General Aviation.. Gen G&El cv pf B. . 50s 3 1 6% 6% Georgia Pw pf (6).. 508 50% 50% Glen Alden Coal... 1 6% 6% Gold Seal El(new). 3 & Goldman Sachs.... 13 1% 148 Great A&PT pf (7). 50s 119 118 Gulf Oil of Penna 27 32% 31% Hecla Mining. . 2 3 % Hollinger Goldt: " 6% Horn & Hardart(2). 2 19 Hudson Bay Min. 5 314 l:'fi 1% 5% 3w kLY * 2% Humble 01l (2). 6 Hygrade Food 2 T P&Lpt(s)....200s 1mp Ojl Ltd cou 50¢ 1 InsCoof N Am(2). Int Petrol (1) Int U1 B.. Inters Pwr( pL. 30s Kopper G & C pf(6)225s Lake Shore M (2).. 11 Lehigh Coal&N 40c 2 Lone Star G béde. .. Loufsiana L & Ex. . Mapes Con Mfg (3) Mavis Bottling A. . Mead Johnson (3 Mesabi Iron Midland Stee Mid Sta Pet vtc B.. Middle West Util. . Montgom Ward(A) 130s Mountain & Gulf... 8 22 6% 27 "% 1 17 5 1 17 1 1 1 4 3 5 ut Bella Hess. 15 Nat Bnd & Sh (1 2 Nat Investors..... 2 Nat Pw&Lt pf (6). 3258 at Service....... 9 at Sugar NJ (2).. 3 ew Bradford Ofl.. 5 New Eng Pwr pf(6) 40s New Jersey Zinc2. 14 Newmont Minin, 35 N Y Shipbldg (1 10 6 NY Tel pf (6%)... 258 112 N Y Transit (30c). 3 Niag Hud Pwr (1). Niag Hud (A) war. & Sh(Md)B 20c. Nipissing......... 1% North Sta Pw A(4). 28 Northw Yeast (12) 10s 120 Ohfo Copper....... 22 % PacG&E1stpf1% 5 22% Pan Am Airways.. 3 Parke Davis (1). 8 Parker Rust P2%. 75s Penroad Corp 15 Phoenix Secur pf.. 1 Pilot Radio Tube A 2 36 1 26 1 NEW YORK EGG MARKET NEW YORK, April Quotations for eggs ln”l.h: cash market today were: Mixed colors—s; Special). — ‘wholesale Y 1 : . Whites—Nearby selected, 2%: receipts, specials, 20%3; 3 g.um 16al17; W Browns—Nearby. special packs, 16a18; standards, 15a15%. POTATO MARKET. CHICAGO, April 10 () (United States t of Agriculture) —Potatoes ™ 27 120 ~ 140 cars; on total United States ts Sa 751; Sunday, 9; firm; erate; supplies moderate; round whites, 72)5a77%, few 80; Minne- sota round whites, 70a75; North Dakota S River Ohios, 70a75; s Pl m::‘.' —_— PARIS BOURSE PRICES. PARIS, April 10 ().—Three per cent rentes, 70 mnu”“ centimes; 4% per cent rentes, 87.90. g on London, dollar at 25.41%. FIRST TRUST for SALE Several thousand first trust i Box 90—R Star Office Pioneer Geld (24c). Pitney Bowes P.. Premier Gold(12¢). Prudential Invest. . Pug Sd P&L $5 pt. .1208 Roan Antelope.... 2 Safety Car H & Lt. 2768 5t Regis Paper.... 3 Salt Creek Prod (1) Segal Lock & Hrd. . Selected Industrie: Sel Ind all cfs(5%) Seton Leather. Shawin W&P (50c). Shenandoah Corp. . Smith (AO).......11768 SouCalEdpf A 1% SouCalEdpfB 1% Sou Cal Ed pf C 1% Southern P L (40c) Sou’land Roy (20¢) Sowst Penn P&L 4. 20s Spanish & Genrcts 1 Stand Oil Ind (1).. 82 Stand Oil of Ky(1) 2 Stand Pwr & Light. 2 Stand P&L pf (7). .300s Stand Silver & Ld.. 10 Starrett Corp pf. Stutz Motor Car Sun Investing was % 2 1 2 1 2 A SAVINGS ACCOUNT at The National Permanent at 59, Dividends wil! pro- vide a safs CASH RESERVE to offset future necessities. Open your account today. Members Building Swift Interna ‘Tastyeast Ine (A). Tech Hughes (60c) ‘Technicolor .. Texon Oil & Ld (1). Tob Prod Exp(10c) Trans Air Transp. Tri-Cont Corp wr United Founder: United Gas... United Gas pf (1).. United Lt & P (A). United Lt & Pwr pf USElecPwrww.. 7 USFoil (B) (20c). 1 U S Play Card (1).. 258 Unit Stores vtc. 1 Utd Verde Ext 40c. 9 10 1 whT1ONg, PERMANENT BUILDING ASSOCIATION L7 ;,~“ 9% ST. N. R "".Mnou u.!—“‘ Util Pwr & Lt Util Equities. Walgreen Co (1). Woolworth (F W) Ltd (p24 2-5¢) Wright Harg 12 Dividend rates in ividend & Payable stock. 54 Organized 1879 53ra xm Equitable Co-Operative Bldg. Ass’n JOHN JOY EDSON, President WALTER 8. PRATT. Jr., Secretary Assets. . -$6.251,006.24 Subscriptions for the 104th Issue of Stock Being Received JOIN THE EQUITABLE AND SAVE SYSTEMATICALLY :§9 :"ho Equitadble’s Planhgz PER SHARE 915 F St. NW Always Remember— s it is not what you earn, but what you E Save That Counts. MORTGAGE NOTES AFE . . . profitable. .. eon- venient .., Secured on residences and income-produc- ing properties in the Distri of Columbia and adjacent Maryland suburbs. Permit us to offer our facilities for the funds, 6% placing of your invesiment H. L. Rust Company 1001 Fifteenth Street National 8100