Evening Star Newspaper, April 18, 1933, Page 15

FINANCIAL. BONDS IRREGULAR N LIGHT TURNOVER High-Grade Group Lower. German lssues Are Again Heavy. BY CHARLES F. SPEARE. Epecial Dispatch to The Star. NEW YORK, April 18.—There were few striking changes in today's bond market. Some slight suggestion of response to inflationary talk was to be found in a number of high-grade issues. The Gorman list was again heavy and there were moderate reactions in the United States Treasury loans. Among the high-grade issues under prescure were the Northern Pacific 3s, which broke 11, points. At the same time the prior lien 4s were fractionally | Jower. Atchison general 4s and Bal- timore & Ohio 4s reacted, as did Union Pacific first 4s and Pennsylvania 4Ygs. Similar tendencies were shown by the better quality public utilities such as Consolidated Gas 4!2s and 5':s and American Telephone & Telegraph 5s. Canadian Pacific 4!2s, however, were up a point. The industrial group showed the largest fluctuations. On account of the further cut in the price of news- print, International Paper 5s dropped 2 points. National Dairy Products, 5'48 were off nearly a point, as were Dodge 6s. In contrast was the rise of a point in American Smeiting & Refining 5s. The speculative public utilities like In- ternational Telephone & Telegraph, In- terborough Rapid Transit and Western Union were all heavy. The decline in German dollar loans was_quite sharp in some instance, notably the Agricultural Bank 6s. which lost 2 to 3 points. The Govern- ment 555 and 7s were down early 3 to 1 point. A list of 10 active German loans shows an average decline of 30 points from the high of the year. It is safe to say that there has been a shrinkage in market value, since the Hitler government took control, of $250,000,000 in Germany's external loans. French issues were steady, as were those of Italy, Brazil, Canada, Australia and Japan. There was a silght recovery in Uruguay Bonds which yesterday sold at a new low price. Three years ago these were regarded as one of the best credits in South America. Trading in United States Government loans was slow and price changes moderate. The remarkable decline in money rates in the past month has per- mitted the Treasury to sell discount bills at less than !; of 1 per cent com- pared with 4.25 per cent early in March. There was a good reception to the Edison Electric Illuminating Co. of Boston issue today. CITIES SERVI.CE REPORTS | Atchison gn 4s'95. | ON NEW YO | BONDS bk Bl ok Received by Private Wire Dircet to The Star Office. Sales. High. Greek 6s°'68....... 5 17% Hudson Coal 58%2. 11 30 Hud & M adj 65’57, 42% Hud & M rf 5a 57, 6% Humble Ofl 5537 102% 111 Bell Tell 68 '56.. 11l Cent cl tr 45 °53. INCent rf 4s°65... I11 Cent 4% s °66. .. I11 CCStL&N 4 111 CCStLAN 5s A. . T11 Steel db 4% 8°40. Inland St 4348 A'78 In* Rap Tr rf 5366 Int Cement bs '48. Int &Gt N 53 B'56. Int & Gt Nor 6s'52. Int & G Naj6s'52. Int Hydro El 6s'44. Int Papref bs A'47. Int Pap 6s'56 IntT&T 4% UNITED STATES. (Sales are in $1.000.) High. < Low. Lib 3%s 32-47... 10129 10125 7. 102 10127 10222 9525 97 21 100 20 100 20 30 100 22 102 10318 107 4l% e qunaS~nn Ean s 52 Abitibl P&P 5353, Ab& St5Y%s’43 Allis-Chalm Am Beet Sug. Am F P 58 2030 Am Int1 515849, Am Metal 54834 Am Sm&Ref 5847 Am Sug Ref 6: taly 78 '51. Italy Pub 7s'52.... Japane: Japane: Kan C F S&M 48°36 Kan C P&L 4% Kan City Sou 5s'50. Kan City Ter 45'60. Karstadt 6s°43. Kresge Found 6s'3¢ Laclede Gas 5534, Laclede 5% Am T&T o tr 5 Am T&T deb s Am T&T deb 5 Am T&T 5%s'4: Am Wat Wks 5 Am W W&E 6376 Argentine 5148’62, Argent 6361 M. Argentine 6559 Ju Argentine 6s 59 O Argentine 6s ‘Argentine 68 Arm & Co 4%5°39. Arm Del 54s°43. .. Leh Ven 4% Lig & Mye: Loew's 63 '41. Long Islrf 4s'49.. Lorillard 5s'51. . Lorillard 7s"44. La & Ark 55°69. Lou G & El 5s A'52. L &N unf 4s°40... Lyeas6s'34..... McKes & R 5% 8'50. Man S 15t 7155 '42. Manhat Ry cn 48’9 Market St At1C L st 4s '62 At1C L eol 456 AtICLun4%s Atl Ref db5s°37. Australia 4148°56.. Australia 55’55 Australia 58'57 Austrian 78’57, Mil E Ry&L 68 °T1.. MSP&SSM 53549 MK&T 1stds'90 MK&TS5sA'62... MoPacgnds'?s... 1 Mo Pacrf5s A 65 Mo 5SF'17. Mo Pac 55 G 7l Mo Pac 55 H '8 Mo Pac 5s 181 ‘Belgium 65 ‘55 Belgium 6%s'49. ‘Benef Loan 6s'46. . Berlin Cy El 6s°55. Berlin 634s°50..... Montevideo 78 '52.. Mont T 1st rf 55'41. Dairy 53 s'48. . Nat Steel 55°56.... 36 N Eng T 1st 5s ‘62, N Power 65°60.... Bolivia 8547, Bordeaux 63’34 Bos & Me 5567 Brazil 6% Brazil CR 7s'62. Brazil 85°41.. Bklyn Ed §s A "49 Bklyn Elev %8s Bklyn Man 6s A Bklyn Un Gas 58’50 Bklyn UnGas 55'57. Cre4%s2013. b 4 b g Y Cent 4s°98. Y YCrf4%s2013n CRUDE OIL OUTPUT SHARPLY REDUCED Drop of 708,308 Barrels Is Reported in Daily Aver- age Production. By the Associated Press. TULSA, Okla., April 18 —The unusual drop of 708,308 barrels in the daily average crude oil production of the United States over a 2-week period was reported today by the Oil and Gas Journal and attributed to the partial closing of the Oklahoma City and East Texas flush flelds. Production dropped last week from 2,230.902 to 1891348 barrels daily, a decrease of 339,554 barrels in the daily average. The preceding week's drop | was 368.764 barrels. | Texas production declined from 975,- 667 to 682,833 barrels a day, due chiefly | to a decrease in East Texas from 434,- 410 to 139,750 barrels a day reportéd from fournal private sources. Oklahoma production dropped from 386,940 to 335,620 barrels. Production in California climbed from 463,000 to 468,500 barrels. Kansas production increased from 120,985 to 121,640 barrels; Eastern pro- duction dropped 1,000 to 106,000 barrels and Rocky Mountain output fell from 75,430 to 74,923 barrels daily. ADVANCES IN METAL Steel shd Copper Lead Way in Upward Trend During the Past Week. By the Associated Press. NEW YORK, April 18.—Advances were reported in practically all metal markets last week, although demand became less active at the higher levels. Copper was fairly active. Buying came chiefly from foreign and speculative sources, while domestic consumers were reserved in their purchases, apparently awaiting definite announcements of production curtailment or shutdown pf mines. However, the market was with- out official confirmation of such re- ports, and while some producers were holding electrolytic !4 cent higher at 51, cents, smelters were offering at 533 cents. Steel ingot production rose three points to an estimated 19': per cent of capacity on increased demand from a variety of sources. Automobile manu- facturers were outstanding buyers, but specifications were | rails, tin plate, bars and sheets. | held steady. Following recent active demand for pig iron, somewhat quieter conditions prevailed, but prices held MARKETS ARE NOTED also released for | Prices | IBURB SHARES FIRM AS MARKET CLOSES Trend Reversed at Midday +After Dull, Irregular Opening. BY JOHN A. CRONE. | Special Dispatch to The Star. NEW YORK, April 18.—Strength of general industrials featured the firm closing on the Curb Exchange today. ‘The market opened dull and hesi- tant, but reversed this trend at mid- day under the leadership cf general in- dustrials, like sugar, mail order, meat packing, Tubber and steel issues. Na- (tional Sugar Refining., Godchaux Su- gar, Swift & Co., Montgamery Ward A, Newmont mining, Mead-Johnson and Sherwin-Willlams were among the stocks that soared to new heights on the general upswing. The so-called ‘“rate-regulated” is- sues, such as public utility and rail- road shares, lagged. Electric Bond & Share was up almost a point near the close. American Gas & Electric_was up about the same amouni, but Cities Service and Niagara-Hudson Power failed to share in this movement. Standard Oil of Indiana was not much changed. Strength and activity of Cord Cor- poration was the nctable event in the motor group. Metals exhibited mixed trends. Gains and losses about offset each other in the gold mines. Bunker Hill-Sullivan staged a brisk recovery from its initial weakness. It was the only silver share to appear during the first three hours. New Jersey Zinc was reactionary. Copper and lead stocks were not much changed Deere & Co. and Novadel Agene moved in sympathy with wheat prices. American Cyanamid B was lower most of the time. By early afternoon prices were higher and trading active. Electric Bond & Share was up a half point. Cities Scrvice was a shade lower as a result of its 1932 income statement. Niagara-Hudson Pcwer was off slightly, but American Gas & Electric firmed. ‘The commodity stocks, despite Senate disapproval of an inflation measure, led the market upward during the first hour. On this movement Montgomery Ward A reached a new high. such chinery an ock & Wilcox attained new peaks. NOW ONLY $19,890,000 By the Associated Press The amount of the new money in actual circulation on April 12, amounted to only $19.890,000 on the basis of cal culation by the Federal Reserve Boar Only 5 of the 12 Federal Reserve banks have avalled themselves of the of using this money, these Then | as United Shoe Ma- | NEW MONEY CIRCULATION | THE EVENING STAR, WASHINGTON, D. C. TUESDAY. APRIL 18, 1933. N. Y. CURB MARKET Received Ly Private Wire Direct to The Star Office. Stock ‘and Bale— Dividend Rate. Add 00. High. Low. Close. Allied Mills. . 3 3% 31 3 Alum Co America. . 150 Am Beverage. Am Capital pr pf. . Am City P&L B 15¢ Am Cynamid (B).. Am Founders. ..... AmGas&El (31).. Am Gas & El pf(6). Am Investm t. Am Lt & Trac (2 ‘Am Maracaibo Am Superpower. .. Am Super 1st p£ 6. . Anchor Post Fence. Ark Nat Gas. .. Ark Nat Gas (A). Ark Nat Gas pf. Art Metal Works Wss0 Gas & Elec Asso Gas&Elec( Asso Rayon. | Atlantic Lobo | Atiantic Lobos pi | Atlas Utilities. | Atlas Utilities war. |Atlas Util pf A(3). 3 | Axton Fish(A)3.20.150 | Babeock & Wil(1). 2! Blue Ridge. .. | Blue Ridge pf (a3). Brillo Mfg (60c). .. Buckeye Pipe L (3) | Buft N&E 1st pf(5) Bunker Mill & Sull. 508 Bunker Hill & § vtc 758 Butler Bros X Bwana M'Kub Corp 1 | Canadian Marconi. 7 | Cable& Wire Brets 1 | Carib Syndicate. .. 14 | Cent 111 Pub Sv pf. 208 Cent States Elec 5 Cities Service. Cities Service pf. Claude Neon Inc. Colon O11. Comwlth Edis (5). Comwlth & Sou wr. 34 Comstock Tunnel.. 16 | Cont G&E pr pt (7). 258 | Cooper Bess pf A. | Cord Corp (10¢) | Corron & Reynolds. | Creols Petroleum. . | Crown Cork Int1 A. Cus! Mexicana Min. 29 | Deere&Co........ 14 | Duke Power (4)... 258 Dubilier Cond & R. 1 t Util Assoev.. 2 sler Elec Corp... 2 | FA Ba&Share b6 % . 108 | EI Bd&Share pf6.. 3 | EI Pwr Asso (40¢). 1 1 Pwr Asso A 40c. 3 | |Washington Produce | WHOLESALE PRICES. Butter—One-pound prints (93 score), |23, tub, 22; one-pound prints (92 score), 22; tub, 21; one-pound prints (91 score), 21; tub, 20; one-pound prints (90 score), 20; tub, 19. Eggs—Hennery, 1212a13; current re- ceipts, 11}2a12; Government graded, FINANCIAL. Stock and Dividend Rate. Evans Wall Lead.. 2 Fedders Mfg (A).. 2 Fisk Rubber(new). Fisk Rub pf (new). Ford Motor Can A. Ford Motor Ltd. ... General Alloys. ... General Aviation. . Gen G&E ev pf (B) Glen Alden Coal. .. Godschaux Sug B. . Gold Seal El(new) . Goldfield Consol. - - N om BN s Gulf Oil of Penna.. 11 Heyden Chem (1).. 2 Hollinger Goldt80c 1 Hudson Bay Min... 21 Humble Oil (2).... 4 Hygrade Food..... 2 1P &L pf (6)....1268 Imp Oil Ltd cou 50e 15 Ind Terr INNOil1A.." 1 InsCoof N Am(2). 2 Int Hy E1 S ¢ pf 3%150s Int Petrol (1)..... 22 Italian Superpw A. 2 Kirby Petrolm 10c. Kirkland Kopper G & C pf(6) Lake Shore M (2).. Libby McNeill & L, Long Is Light (40c! Mavis Bottling A. . Mead Johnason (3). Memphis Nat Gas.. Mid Sta Pet vtc B. . Moh Hud P 1st pf 7 Montgom Ward(A) t Fuel Gas (1).. t Invest war.... Natl Service pf. t Sugar NJ (2). XNat Union Radio. . Nestle Le Mur. . New Jersey Zinc2. 6 Newmont Mining.. 12 NYHonRo(t1%). 1 N Y Telpt (6%)... 758 Niag Hud Pwr (1). 2 Northern P L(50c). 1 rth Sta Pw A(4). 2 orthw Yeast (12) 10s Novadel Agne (5).. 3 Ohto Copper, . . Pac G&E 1st pf 134 Parke Davis (1)... Parker Rust P23 . Pantepec Ofl. ..... Penroad Corp. .... Ploneer Geld (24c). Pitts Plate G (60c). Premier Gold(12c). Prudential Invest. . Pub Util HId xw... Pub Util Hld cpt Pure Ofl pf (1%).. Raytheon Mfg Reliunce Int A Safety Car H& Lt. St Regis Paper.... Salt Creek Consol. . Salt Creek Prod (1) Seaboard Utilities. Selected Industries Bale— Add 00. High. Low. Close. % | Elec P&L 2d pf(A). 1 7 ] 1 8 2 1 A—15 POKUPIN STEEL DEMAND IS NOTED Purchases Have Spread to Finished Products, Says Trade Journal. F¥ ¥ By the Associated Press. CLEVELAND, Ohio, April 18.—Con« sumer interest which fc. several weeks has been strongest in raw materials— Notably pig iron and scrap—has spread to finished steel products, the magazine Steel said. In fact, the magazine continued, all the principal consumer classifications except the building industry have par- ticipated. Automobile production has | come back so rapidly that April output | now appears/ certain to top January and exceed every month since last June. “The Erie’s order for 24,549 tons of rails, its inquiry for more than 4,000 tons of track fastenings: the Missouri | Pacific’s inquiry for 7,000 tons of tie plates, and the New York Central's | authorization of 9,000 tons of rails are believed forerunners of slightly im- sflr&ved rail buying,” the publication “There is an undercurrent of opinion in the East that President Roosevelt's railroad program will involve the scrap- ping of much equipment and its re- placement, partly to provide work. “Seasonable requirements for cast pipe continue to expand. Wrought iron pipe has been reduced $11 to $40 a ton. “In the Buffalo district fabricators are figuring on 20000 tons of struc- Y| tural material, including Government financed bridges, and at Baltimore 5,000 tons are being negotiated for Pennsylvania Railroad piers.” New York Cotton Special Dispatch to The Star. NEW YORK, April 18.—Cotton prices on the local exchange today opened up 6 to 9 points, following the higher market in Liverpool, where prices were unchanged to 5 points higher in quiet trading. Initial quotations were: May, 6.64, up 6; July, 6.82, up 7; October, 7.02, up 8; | December, 7.20, up 9: January, 7.26, up 9; March, 7.40, up 9. Grain Market | By the Assoctated Press. CHICAGO, April 18.—Wheat rose ,, | late today to the topmost price which | September contracts have reached this season and to a new high unequaled % | in more than a year for immediate de- *: livery wheat, 67 cents. 1| A fresh development of speculative $60,951,583 NET IN 1932 By the Associated Press. NEW YORK, April 18—The annual report of Cities Service Co. states that consolidated net earnings in 1932 be- fore depletion and depreciation amount- ed to $60,951,583 compared with $63,- 106,882 in 1931 Reserge appropriations deducted from current income for the year amounted to $18,367.449. Charges against re- serves for the same period were $6,401,- Budapest 65 '62 privilege Rush T Bldg 65'60. BR & Pitts 438’57 Calif Packing 5840 Canada 4s°6 . Canada 4% ; ¥ extras, 18; standards, 16; mediums, 15. Pouitry, allve—Turkeys, hens, young, 16a20; old, 12al4; toms, young, 13al4 old, 8a10; chickens, hens, 13al4; Leg horn hens, 10; roosters, 6a7; Plymouth Rocks, broilers, 20a21; Leghorn, broilers, 18; fryers, 17a19; roasters, 17a19; mixed colored chickens, 14al16; keats, young, 25240; old, 15a20; capons, 25; slips, 18. Poultry, dressed — Turkeys, hens, young, 19a23; old, 15al7; toms, young, 16al17; old, 11al3; chickens, hens, 16: Leghorn hens, 13; roasters, 9al0; Sel Ind all efs(5%) 2508 Seton Leather. . Shattuck Den Min.., 2 Shawin W&P (50c). 1 Shenandoah Corp.. 3 Shenandoah pf.... 2 Sherwin-Will (1)..100s 50 Am Gold & Plat. 5 SouCalEdpfA1% 10 SouGalEdpftB1l 1 Sou'land Roy (20c) 3 Stand Invest cm pf 1008 Stand Ofl Ind (1).. 23 Stand Cilof Ky(1) 3 34 buying on the pert of commission 274 | houses, especially those with connec- 1y | tions East, was mainly responsible, to- &7 | gether with a sharp advance of British exchange. Adverse crop reports came from Kansas and Nebraska wheat sec- tions, where heretofore the outlook had been relatively auspicious. Oats and barley, as well as wheat, outdid season high price records. Wheat closed strong, 1’2 to 2 cents above yes- terday's finish; corn, 2 to 35 up; oats, 3 to % up, and provisions varying being Boston, New York, Philadelphia, Cleveland and St. Louis New York has put into circulation | 2805000 of the new notes: Phila- delphia, $4,330.0006; Boston, $1,719,000; | Cleveland, $997,000, and St Lous, | $39.000. | The money is backed by $39.853.000 of collateral made eligibe under provi- | sion of the Emergency Bank Act, con- sisting of $33,724,000 of Government Trade Trends Edison 5s C'51. Edrf 648’41, EL H&P 4549, NY EL H&P §s '48. NY NH&H clt 6540 2 By the Associated Press. Sugar—Distribution in the United States during the quarter ended March 30, according to a preliminary calcula- tion by Lamborn & Co. Inc, sugar brokers, amounted to 1279.873 long 1 | tons, raw sugar value, compared with 1,248,177 long tons distributed in the Canada s '52. . Can Nat Ry 448’51 Can Nat Ry 44 #'56 Can Nat Ry 44 8'57 Can Nat Ry 414368 Can Nat Ry 4% 855 Can Nat 5s°69 July NY Rys Inc 6s 65 N Y Steam 5s 8 statement accompanying the report, Henry L. Doherty, president, said that at the beginning of 1932 the total amount of notes payable and funded debt maturing within 12 months was more than $110,000,000. At the end of 1932 the total of such items was $61.000,000, and sinee December 31, 1932, $19,200,000 of the latter have been replaced by notes payable due after January 1, 1934 On December 31 consolidated current assets were listed at $87,489,014, includ- ing $28,365.371 in cash. Current lia- bilities, including $58,059.973 notes pay- able, amounted to $83,001,522. At the close of 1931 the company had current assets of $113,849,305, including cash Can Nat 5569 Oct. Can Nat Ry 6870 Can Nor 4155 °35. Can Nor db 6% 546, Can Nor deb 75 '40. Can Pac 4% °60. Can Pac 5s ‘54 Car Clin & O 65’52, Cent 111 E&G 58 51, Cent Pac 15t 45°49. Cent Pac 5s 60. Cert-td db l%l_,‘“. 4T, ... of $41,817.256, and current liabilities of $95,014,201. GOLD STANDARD RETURN IN ENGLAND FORECAST Bpecial Dispatch to The Star. NEW_YORK, April 18—Should the World Economic Conference meet with success and should a satisfactory solu- tion be found to the debt problem, the Alexander Hamilton Institute believes that England's increase in gold holdings would mean an early Teturn of Great Britain to the gold standard. Says the Institute in _its current bulletin: “The weekly statement of the Bank of England, of April 6. showed gold holdings at £177.359.908, the largest amount of gold ever recorded. On Jan- uary 12 of the present vear, shortly after Great Britain had paid to the United States $90.000.000 in gold on account of war debts, the gold holdings of the Bank of England amounted to £120,544,105. ‘Thus, during a short period of three months, the Bank of England was able to increase its gold Tholdings by about £57,000,000.” COAL OUTPUT DROPS. By the Associated Press. Production of bitumonous coal showed a sharp drop during the week ended April 8 as the output was measured by the Mines Bureau. In the table that follows production is given for compar- able weeks, as reported by the burea: Week ended April 8 4,865,000 tons Previous week...... 5,136,000 tons. Same week last vear 4,645,000 tons | Washington Stock Exchange SALES. Washington Rwy. & Elec. 45—8$1,000 at 85 4 Potomac Electric 6% pfd.—S3 at 1084, 10 at 108, 5 at 108's, 10 at 108. Washington Gas Light—10 at 58. Washington Rwy. & Elec. pfd.—10 at- & StP gn 45'89. C M StP&P 58°75. . CM&StP ad s 2000 Chi & NW gn 4s'87 Chi&NW 41482037, Chi&NW 415sC'37.. Chi & NW 43,549 Chi&NW rf 552037 Chi RI&P gn 45°38. Chi RI&P rf 4s°34. ChiRI&P 448’52, CTH&SE in 68'60.. Chi Un Sta 4%s ChiUn St 58'44.... Chi Un Sta 53 B'63. C& W Indcn 4852, Childs deb 55 '43. Chile 6s 61. Chiie 65°61 Jan Chile 78"42. . . Chile Cop db 5847 Cin Un Trm 65 2020 CCC&St L 4%sE'TT CCC&StL5sD'63. Clev Term 4%s'77. Clev Term 5s B'78. Clev Ter 5% sA'72.. Cologne 638 '50. Colomb 6s'61 Jan.. Colomb 6s°61 Oct.. Colo & Sou 4%3 ‘80 Col G&E 5s '52 May Col Gas & E 5361 Com Inves 5%s"49. S 4 A8 SanautRaannarana N Con Pow Jap 78 "¢4. Copenhag §3'52. ... Cuba 5%8°45. Cuba RR 1st Cuba RR 68" . Cuba Nor5%s'42.. Czecho 8s'52. - Denmark 4362 Denmark 5%8'55.. Denmark 6842 8174 Mergenthaler Linotype—10 at 23', 10 at 234, 10 at 234 AFTER CALL. Washington Gas 5s '60—$500 at 102%%. Bid and Asked Prices. BONDS. UBLIC UTILITY. T Bld Amer. Tel. & Tel. 4135 '39. Am. Tel. & Tel. etl. tr. 53. ‘Anscostia & Pot. R. R.'5s. Aua. . G bs.. C. & P. Tei. of Capital Traction City & Suburban 5s. . Georgetown Gas 1st Bs. Potomac Electric Cons. Potomac_Elec. 63 10! Washington B8 Washington Gas 58 Gas 6s, series B Rwy, & Elec. 45.... MISCELLANEOUS. Barber & Ross. Inc., 63s... 1 Chevy Chase Club 5as.. .. Columbia Country Club 5izs D. C. Paper Mfs. 6s..... STOCKS. Bsl. Pot. Elec. Pwr. 5l2% pld h. R wy. & El. com. (7 Wash. Rwy. & Elec. pfd. (5 Emerson Bromo-Selz. nst type . Mergenthaler Linotvpe '(: Peoples Drug Stores ofd Wdwd. & Lothrop com. (1 21 ‘Wdwd. & Lothrop pfd . *Ex dividend s2% extra. Books closed. % bBooks © 725 gm n25c extra. extra. 130¢ extra. g% exre §1% extra. Wh% extia SonesSsS LrnvuuvaalteNea~n Duquesned % s, . Dutch East I 6s'47.. East C Sug 7%45'37. Rriecv4s A ‘63 4sB°63 Erle gen 48 Erieref b ceeee Erleref5s'75..... Erie & Jer 6s'55. Fiatdeb 7s Finland 6 %: Finland §%s . Fla E Coast 58°'74.. French Gv 784! French Gv 7%#'¢1. SuBoon alBaane ~RBcnme Gen Th Eq 5s '40 Ger Cent Bk ‘l’ll:'. lg Ger Gen Elec Ger Gen E1 7. Goodyr Rub b Grand Trunk 65'3¢6. 6 Grand Trunk 75'40. Gt Brit&lr 5%8 37 189 104% GrtNor d%sE'TI. 2 38 Grt Nor %8 B"H. 2 40% LA CT VRIS o 3 1004100 N Y Tel gen 4%s 39 NY W&B 414546 Nia Sh Md 5% Nord 6%s°50. North Am Co 55’61, Nor Am Ed 55 C'69. 3. Nor Ger Ltd 6847, NorOT&L 6s'47. Nor Pac gn 35 2047 Nor Pac 45’97 Nor Pacr 1652047, Nor St Pw 5s A "41. Nor St Pw 6s B'41. Norway 55'63... Norway 5% '65. Norway 6352 Norway 44 Ohio PS 7148 "46. . Ore Sh L 58 gtd *46. Orex-Wash 48'61.. Orlent Dev 534558 Orient Dev 6s '53. . Pac GEE 5s'42.... Pac TAT 1st 55'37. Pac T&T rf 58°52.. Pan Am Pet 65 °40. Paramount 6s *47. Pathe Exch 78'37 Penn sta 4s°48. Penn 4% s D Penn cn 41860 Penn gn 433565 Penn 4%s D'70 Penn 4%s’63. Penn 5s '64. Penn gen 5s "6 Penn P&L 4% Peop Gasref 5547, Pere M 1st 45°56. .. Pere Marq 4%s 0. Phila Co b3 6’ Phila Elec s Phillip Pet 5% s 39 Pillsb F M 6=°43. P& WV 4%sC60 Poland 65’40, PosTel & Cbs'53.. Press Stl Car 58°33 Public Serv 4s'71 Pub Sv G 4%8°67 Pure O11 5% Pure O1l §%: Queensland 6s °47.. Queensland 7s"¢1.. Rem Arms 6s A '37. Rem R 5% 8A’4Tww Rhinelbe U 7s "46 Rhine Ruhr 68 '53.. Rhine West Rhine West Rhine West Rich Oil Cal 4 Riode Jan 6%s'53. RioDeJan ext 8="4¢ RGrdoSul 6s 62.. R Gr do Sul 8s°46 RIAr& L 4%s'34. Rome %852 . Royal Duteh 4845, Rumania 785! StL IM R&G II’!,! . Solvay Am b3 "41. .. Sou Bell T&T 55’41 Bou Pag col 4 :’ 1 SouP4%s'6d ww.. Sou P&Or 434 8A'77 Sou Ry gn 45A’66 Ry 6%8°56.... SW Bell T 53 A "54. StOIINJ5s'¢8.... StOIINY 4%s'51. Studebaker 6s '42 % Swiss 5384, TalwanE P 53871 Tenn EI P 65.A 41z Tex & Ark W.-'l:.. 62 3 9 20 : 2 1 10 - oy RorwronaaBoaiB% wn vaneShe @ e R L L L L D L TR P E @iy moa ExSRBeal N 59 8. like 1932 period. Gasoline—Some refiners report a steadier demand for tank car lots. While there have been no further changes in the price structure, a better sentiment is evident in trade quarters Scrap steel—The better tone of prices In leading markets has served to re- lease considerable amounts from rail- reads. Coincident with the selling of scrap on hand some of the railroads are considering the placing of fair stzed orders for rails and track supplies, it is reported. Paper—Sales have had a fair pick-up in some lines and prices continue gen- erally steady. Some increase in box- board demand is attributed to brewers. Hides—Firmness in the market is reflected by recent sales of light native cows at 6 cents a pound., an advance of % cent over the previous price. PARIS BOURSE PRICES. PARIS, April 18 P).—Three per cent rentes, 70 francs 40 centimes; 4!, per cent rentes, 8850. Exchange on London. 87.20. dollar was quoted at 25.25 The EARNINGS REPORTED. NEW YORK, April 18 (#.—Kenne. cott Copper Corporation and subsid- laries report 1932 net loss of $7,102,198 after a writedown of $1,576.963 against inventories, but before depletion. A special adjustment of $633.689 in con- nection with inventories of Utah Cop- per Co., a subsidiary, was charged against surplus account. For 1931 the company reported profit of $3,848,827 before depletion and adjustment of in- ventories amounting to $1,768,502, which was charged to surplus account. Current assets on December 31, in- cluding $14,740,238 cash and U. S. Government securities at cost totaled $36,091,150. Current liabilities were $3,128,825. At the close of 1931 cash and Government securities were $20,- 434,451 and total current assets $47.- 959,825. Current liabilities were $5,076,- 530. Julius Kayser & Co. reports first- quarter net loss of $117,542, compared with profit of $181,127 in the preceding quarter and loss of $86,256 in the March quarter of 1932. Alpha Portland Cement Co. had net loss of $1,642,167 in the year ended March 31, against loss of $907,773 for the previous fiscal year. Sales. High. Low. Ciose. Tex&P 1st 5s2000. 1 874 874 87w Tex&P5sC'79... 6 Tex & Pac s D'80. ‘Third Av rf 4s'60.. Third Av adj 55’60 Tob P NJ 52022 Toklo 5% s '61 Tokio El1 Lt 6s Union El L&P 55’57 Un Pac 1st 4s°47.. Un rf 4s 200! Un Pac 4%s '67. Uait Drug 58°63... 12 U S Rubber 5s’47..130 Un St W 6% A'47. 10 UnSt W 6%sA'51.. 9 Un St W 6%sC'51. Upper Austria7s'45 Uruguay 8s '60. Uruguay 6s'64. Utah P &L 5s'44.. Util Pw 68’59 ww.. 1 Util Pow 5% s 47, ‘Vanadium St 58’41, Vienna 6s°52...... Va Ry 1st 5s A°62.. Va Ry & Pw 58'34.. Wabash 13t 53°39... ‘Wabash 58 B“76... ‘Wabash 5s D'80... Wabash 5%s°T5. .. Walworth s A 45 West Pac bs A 46.. ‘West Union 53°51. West Union 55 °60. West Un 6338 36.. Wi 3 4 Wis Cent Tm 45'364 Yokohama 1... 4 Ygstn S8&T 55 A'78. 10 -RSSpAATERET0. ¢ By the Asso d Press. Checks cashed on individual bank accounts in leading cities of the Fed- eral Reserve system showed a 27 per cent deciine during the week ended April 12, as compared Wwith the previous weck. In the table that follows total debits are given for comparable periods, as announced by the Federal Reserve Board Week ended April 12. Previous week...... Same week last year .$4.908,705,000 . 6.729,658,000 . 6,723,074,000 BONDS ON THE CURB MARKET. 1 Alabam Pw 7 Alabama Pow 1 Aluminum Co S&E 58 | L1013 Raid 1 Ci v PL 10 Cleve El 5 Com Ed 3 Gatineau P 6s 1Gen Wt Wk 6s B Pw Sc 7 E ! tersta Pw 35 oppers G&C_5s aclede Gas 51as ' high P S 6s 21 anitoba Pw 51 ass Gas 05 G&Lt A 1 I~ 2 2 s, Eng P 5125 Orleans_4'ss P 5las P T e LT e T T ror ‘49 C, 50 3 100 70ty 883 283 9 5Uni L & % 1United P & 27 'S Rub 6s '3 10 Utah P&L 4% 1Ward Bak 6s '37... 81 1Wash G L ref bs '58 FOREIGN BONDS. & Pv B Blas 137 40% Mar_6ss '83 70 7 41 61% *1 ol 1d_Ind Bk 1 Rubr Hous Glas E 7 18Santa Fe Arg 7s '45 13 ° 13 18aud F Ltd 5s A '55 1003 1003 8 Stinnes_7s ‘46 xw. s 327 11 Terni_So 61 53 76 Unit Indus 41 38% 38 Ww—With warrants. XW—Without warrants. a5 A 6138 Plymouth Rocks, broilers, 23a24; Leg: horn, broilers, 21; {fryers, 20a2l; roasters, 20a22; mixed colored chickens, | 17a19; keats, young, 28a43; old, 18a23; capons, 28; slips, 21. Meats—Beef, 1113 veal, 11; lamb, 13; | Spring_lamb, 15; pork loins, 11; fresh | hams, 12; smoked hams, 13; strip bacon, | 13; lard, 7; compound, 6'3. Live stock—Hogs, light, 3.50a3.80; medium, 3.50a3.95; heavy, 3.25a3.90; | pigs, 2.50a3.75; roughs, 1.50a3.00: calves, | 3.0085.50; Spring lambs, 5.00a7.00. | Fruits—Grapes, Argentina, 3.50a4.00; cantaloupes, Mexico, 5.50; strawberries, 3.00a6.00; oranges, 2.50a3.25; lemons 4.00a5.00; grapefruit, 1.75a2.50; limes, per 100, 2.00; tangerines, 2.00a2.50; bananas, 1.50a3.00; apples, fancy box stocks, 1.2582.50; honeydews, 2.00a2.50: pineapples, 5.00; rhubarb,dozen bunches, 50; alligator pears, 3.50a4.50; pears, box, 3.00; cranberries, 3.25; peaches, 1.75. Vegetaples — Potatoes, Maine, 1.25; New York, 1.10; Florida, new, barrels, 4.5024.75; Idaho bakers, 1.75a2.0 sweets, 50a60; cabbage, new, 75a1.00; , 75; parsnips, 1.25a1.50; celery, lettuce, Iceberg, 4.25a5.25; . 1.50a2.00; string beans, 1.50a .00; limas, 2.25a3.507 eggplant, 1.50a 2.00; tomatoes, repacks, 3-pan, 1.50a 2.00; lugs, 2.00a2.50; caulifiower, 1.60a 1.75; peas, 2.75a3.00; carrots, crates, 1.25 al.40; beets, crates, 1.25a1.40; okra, pan, 75; asparagus, 1.50a2.50; spinach, 50a 75; kale, 25a30; Spring onions, per 100 bunches, 1.00; squash, 1.00a2.00; salsify, per dozen bunches, 60; cucumbers, 1.50a 3.00. U. S. TREASURY CERTIFICATES (Reported by Chas. D. Barney & Co.) T ¢ 9. 9 9 o 9 2 o 9 9. 9 SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co.) Louisyille & New York C Penna. R. R. Co. 6% Portiand Gen. Elec. 5 . ‘Oil Co. B t. L. IMSR. R&G. 4s 1033 Southern Pacific bs 1934 El Lt. & Pow. Virginia Ry. & Power 0s 1034 Wabash Rw. Co. 55 1039... Market Averages By the Associated Press. S8paacad g sapaed SRE3 2 Do oo S0 = BN b e s R 00D 1 otido PRACIGemAIR O 1am bk wwoDDWONWIDD®! 2 PR RPOP DN NS 2 © b afuanraadaanas: s 23 Yesterday Previou: Week ago 238 SE2R2T 2359 Nk DSaBEHDBIOE PRIRBWE AT DS S i ko) day . & >3 o0 2 253 a2 > aBaaon: Ba@ Stand Oil of Ohio.. 508 Stand Oil Ohio pf 5 60s Stand P&L pf (7).. 508 2 Technicolor....... Tech Hughes (60c) Texon Oil & Ld (1), Trans Air Transp. Trans Lux DL P 8. Tri-Cont Corp wr. . United Founders. United Gas pf (1).. United Lt & Pwrpf 8 U S Elec Pwr ww. . U S Play Card (1) Utd Shoe Mch 235, .425s UtilPwr& Lt..... Utll & Indust pt... Venezuelan Pete. .. Walgreen Co (1) Wayne Pump. Wenden Copper. . West Alr Express. Woolworth (F W) Ltd (p24 2-5¢)... 2 ‘Wright Harg t20c.. 85 Dividend rates in dollars quarterly or dividend. tPartly extra. & Payable in cash or stock. k. e Adjustment dividend. * 13% 13% 4 m Plus"3% in stoc in stock 11 11 17 3 3% May 14 37 13% 4 based on semi-annual_payment. ock. Payable h Plus 1 " kPlus 10 . n Plus & p Paid last year—no regular rate from 5 cents decline to a rise of 2 cents. High. Lo 8370-6% B5%-13 1 - July ol Beptember %| CORN— %l May ... 15 | July | eptember. Y| OATS— July H :,LEDYARD ESTATE VALUED AT $10,326,401 NET By the Associated Press. NEW YORK, April 18—The estate of Lewis Cass Ledyard, wh was counsel to the late J. P. Morgan and the Stock Exchange, was appraised by the State tax commissigner's office vesterday at $10,820,546 gross and $10,326,401 net. | Ledyard died January 27, 1932. The bulk of the estate went to his | son. Lewis Cass Ledyard, jr., as resid- in | uary legatee after the payment of 5% | specific legacies of $3712,000. Mrs. ;; | Isabel Ledyard, the widow, received % | $1,000,000 in cash, a $500,000 trust fund and various personal gifts. Cilerbilished 1904 RANDALL H. HAGNER & CGOMPANY INCORPORATED REAL ESTATE Competent Management of Rental Properties in All Sections of the City N 1831 Conmecticut Soonwa N W MORTGAGE LOAN CORRESFPONDENT PROPERTY Apartment House MANAGEMENT 925 15th St. N.W. MORTGAGE P MANAGEMENT ROPERT Y management with us means taking com- plete and entire charge of all details incidental to the prop- erty — and we specialize on Apartment House Properties. I¢’s a service that owners will find very beneficial, usually yielding better return on the investment. Consultation imposes no obli- gation, and the fee for the serv- ice is very nominal. B. F. SAUL CO. Nat’l 2100 LOANS