Evening Star Newspaper, April 22, 1933, Page 11

FINANCIAL. SPECULATIVE BOND LIST SHOWS GAINS Junior Railroad Group Proves Feature on Upside at Short Session. BY CHARLES F. SPEARE. Bpecial Dispatch to The Star. NEW YORK, April 22.—The bond market today again swung toward the speculative issues and away frcm those of a type that are supposed to be de- preciated in value in a period of in- flation. The trend did not develop until the second half of the session, for opening prices were irregular and the volume of transactions comparatively small. | Toward the close volume increased sharply, and price movements became more excited. The strength in railrcad stocks in- fluenced a new demand for junior rail- road bonds, although the rise in them ‘was moderate compared with that of the last few days. It was also confined to a few issues, in which those of the lowest grade figured along with bonds of intermediate quality. Among the best gains in the group were those in Southern Railway 5s, Chesapeake Cor- poration 5s, Northern Pacific 6s, New York Central 4'5s, Baltimore & Ohio 425, Great Northern 7s, and in the lower scale, Erie 5s, ¥ickel Plate 415s, Frisco 4s and Southern Railway 6!3s. Atchison general 4s made a slight gain early, while Union Pacific 4s were frac- tionally lower In the public utilities of the better grade there were conflicting movements in those of Consolidated Gas of New York and Brooklyn Union Gas, as well as of American Telephone & Telegraph and Duquesne Light. The lower grade public utilities, such as North American Edison 5s and American & Foreign Power 5s, were up 1 to 1l5 points, International Telephone & Telegraph 4155 rose a point, while Western Union 5s of 1951 declined 3 points. In the industrial list Texas Co. 5s and ‘Wheeling Steel 5!2s were both a point higher. Dollar bonds in countries that are still on gold, such as France, Belgium and Holland, were all strong, Belgian 7s rising 212 points and Lyon 6s touching 107. Australian 5s declined 1!, points and the German list generally was heavy until toward the closing, when it rallied. There was some reaction in Canadian issues after their extended rise. There was an uncertain trend in the market for United States Government loans The fourth Liberty 4!,s and the first Liberty 312s were lower. The ‘Treasury 334s and 4s both rose 3, and the 315 and 3 per cent certificates were up about the same average. WHEAT SHOWS GAIN OF 5 CENTS FOR WEEK Other Have Advanced Sharply in Chicago Pit—Fluc- tuations Rapid. Grains By the Associated Press. CHICAGO, April 22.—Facing an un- precedented array of financial, legisla- tive and crop difficulties, grain traders say the best present market guide is price action in the World War. ‘With startling rapidity now, as then, prices move up or down 5 cents a bushel, or even a greater amount, and often represent nothing more substan- tial than a sudden change of speculative hysteria. In some quarters the point is made that prevailing market differ- ences between Chicago, Winnipeg and Liverpool can only be justified by belief that the United States is not only off the gold basis, but also is on a domestic basis so far as supplies of wheat are concerned. Compared with a week ago, the Chi- cago wheat market this morning was 475-515 cents a bushel higher, with corn 235-27g up, oats 2%-3% advanced, and provgslons showing a rise of 50 to 70 cents. NEW YORK EGG MARKET NEW YORK, April 22 (Special).— Quotations for eggs in the wholesale cash market today were: Mixed colors—Special packs, 16a 17!;; standards, 15'2a15%; packed firsts, 14! seconds, 13a13l5; dirties, '13a13'c: checks, 11%al3 Whites—Nearby sclected, 19a20%5; ‘Western receipts, specials, 17'2a181%; standards, 15!2a162; undergrades, 1412a15. Browns—Nearby and Western spe- cial packs, 17a18%; standards, 16. ON NEW TBONDS Srock %t o Received by Private Wire Direct to The Star Office. UNITED STATES. (Bales are in $1.000.) High. ~ Low. Lib 3%s32-47... 10016 1009 Lib 1st4 38 32-47. 102 10127 Lib 4th 4348 33-38 102 14 1026 US3s61-55..... 952 9420 314546-49... 9624 96 %aM41-43. 100 9920 %8J40-43,. 1002 9926 % 43-47. 9928 9920 % s46-56... 10126 101 10126 s 44-54. 103 30 103 14 103 30 ®s 4 1072 10610 1072 Sales. High. Low. Close. ADItIbi P&P 53’63, 3 11 10% Ab & St 5% .2 Goodrich 6s 45 Goodrich 6%8°47.. Goodyr Rub 58'57. . Grand Trunk 65°36. Grand Trunk 7s40. Gt Brit&Ir 53%s'37. Grt Nor 4345 D '76. Grt Nor 4%sE'77. Grt Nor5sC'73.., Grt Nor 6%s B '52, Grt Nor gn 7. Greek 65'68.... Hudson Coal Hud & M adj Hud & M rf b Humble Oil 5537 Adams Exp 45'48.. Alleghany 6344 Alleghany 5s'49... Alleghany 65 '60. Allis-Chalm 53°37. AmF P 582030.... AmIGChb%s'49. Am Intl 515549, Am Metal 5148 Am Sm&Ref 68 4 Am Sug Ref 6537, Am T&T 4%s'39 AmT&T e tr Am T&T deb Am T&T 5%s'43 Am W W &E 6! Am Wr Pap 6s°47.. Argentine 55 °45. ... Argent 65'61 May. Argentine 65 ‘59 Ju Argentine 6s ‘59 Oc Argentine 6s A '57. ‘Argentine 6s B 'S Arin & Co 4%8'39. Arm Del 5%35'43... Assoc O11 65°35. ... Atchis 45 1905-55 Atchison gn 43°95. Atchison 434548, At C L col 4562 AtICLun4%s’64. Atl Ref db 5s'37... Australia 4%8°56.. Augtr! 3 Austrian 7s '57 Belgium 6s ‘55, Belgium 785! Belgium 7s 5 Bell Tel Pa b: Bell Tel Pa Berlin 6145 '50. Berlin Cy El 6s Berlin CEl1 6%#'51. Berlin CEl 6 9. Beth Stl pm 58 °36.. Beth Stlrf 5s'42. .. Brazil 6%4s '27-'67.. Bolivia 7s°'58...... Bolivia 7s '69 . Bolivia 8s 47 . Bordeaux 6s'34.... Bos & Me 58 °55.... Bos & Me 53°67.... Brazil 6%s '26-'57. Brazil CR 7s'52. Bklyn UnGas 5s'67. Budapest 6s Buenos A R6s’61. . BR & Pitts 434857 Bush Ter con §s'55. Bush T Bldg 55'60.. Calif Packing 55’40 Canada 4360 Canada 4%s "} Canada 53°52. . Can Nat Ry 4% Can Nat Ry 415 Can Nat Ry 4%, Can Nat Ry 4% Can Nat Ry 4% 8’55 Can Nat 5569 July Can Nat 55 '69 Oct. Can Nor db 6% 5°46. Can Nor deb 75 '40. d Can Pac 5s ‘54 Cent 111 E&G 53 '51. Cent Pac 1st 4549, Cent Pac 5s 6 Cert-td db 5%s'43. Ches Corp 5s '47. C&Ogen 4348’92 C M & StP gn 45'89. Chi M & StP 4%sC Chi M&StP 4%s E. C M&StP 4% '89... C M StP&P 58°75. . CM&StP ad 55 2000 Chi&NW gn 314 5'87 Chi & NW gn 4587, Chi&NW 41%sC'37. Chi&NW rf 55 2037 Chi& NW 6%s'36. Chi Rwys 5s'27 Chi RI&P rf 45" ChiRI&P4% Chi RI43%s'60.. CTH&SE in 5s'60. . Chi Un Sta 4%s'63 Chi Un Sta 6%s'63. C& W Ind cn 48 Penasy Freight Loadings. NEW YORK, April 22 (#).—Freight loadings of the Pennsylvania system last week totaled 73,589 cars, compared with 712,947 in the previous week and 88,775 & year ago. CHICAGO STOCK MARKET By the Associated Press. CHICAGO, April 22.—Following is the complete official list of transactions in stocks on the Chicago Stock Ex- change today: les. STOCK! 10 Assoc T&T 6 200 Bastian-Bless 2100 Bendix Av . 380 Borg-Warner ™ "’ 400 Bruce (E L). 750 Butler Bros "® &0 Canal_Construci 30Cen Il P Ser pi. 50 Cold _Storage 200 Cen Tl Sec S. _ High. Low. Close. R 1 1 [ 11 £00 Comwlth Edis " 200 Thompson (J R} 9800 Cord_ Corp . 51 Household . 50 Gt Lakes 200 Gt Lakes Dredge 250 Grigsby-Grun 150 Haall Print 100 Pub Sve 30 Pub Sve 150 Quaker Oal 30 Quaker Outs b 200 Railroad Sh. 450 Betiance M 00 Ryerson .. oard “Ut. 2850 Sears Roeb. 100 Std Dredg 4650 Swift & Co. 1650 Swift Int.. 200 Thompson ' “(J 'R}, 50 Union _Carb & C 14 Bl 4 shares. 000 Chi City. R 58 000 Chic R B8 '27 000 La. 8 8t B 8148 '8 Bond sales todad. 2. C& W Ind5%s'62. Childs deb 63 °43... Chile 65’60, Chile 6s°61 Chiie 6s°61 Jan. Chile 63 °62 Chile 75 "42 Chile Cop db 5s '47. Chile Mtg Bk 6s°61 Chi Mtg Bk 6%s '57 Chi Mtg Bk 6%°61. Cin Un Trm 6s 20:_? 7. Clev Term 58 B '7. Clev Ter 5% sA'72 Cologne 6% 8 '5 Colo & Sou 4% '8 Col G&E bs ‘52 May Con G NY 5%s"45 Con Pow Jap 7s "44. 4%8'53.. Det Edison rf 5’49 Det Edison 52 Dodge Bros s " Duquesned 14sA'67. Duquesne4 % sB'57. Dutch East I 6: Dutch East I 65’ Finland 53%s ‘68, Finland 6s°45. Gelsenk’hen 65 °34. :’0. Ger Cen Bk 75 °50.. Ger Gen E1 7845 German §%8°5 RepTs 100 1 8 1 2 5 1 2 1 6 2 @ - @ EELTL-PYE-TTRE P 53 18 33 17 2 2 8 4 8 3 4 1 2 3 21 Chi & NW 4% s'49. 155 3 1 10 Hoamm- - - wnBlaalaBen -~ EI 1 12 1 60 Hungary T%s '41. : 111 Bell Tell 55 '56. . 11l Cent cl tr 48 '53. 1l Cent 4% s °C| 111 CCStL&N 4% 11 CCStL&N 6s A. . 111 Steel db 43 8'40. In* Rap Trrf 6566 Int Rap Tr 7s ‘32 Int Coment 55 48 Int & Gt Nor 6s'52 Int& GNaj Int Mer Mar Int Pap ref 5. Int Pap 6s 5| Int Ry CA 6 IntT&T 4% IntT&T4%s'53.. nt T & T 6s'55. Ttaly 7s 51 Italy Pub 7 Japanese 5% Japanese 63s ‘54, . Jugosl Bnk 75 °57.. Kan CF S&M 6 Kan C PEL 4%s ‘61 Kan City Sou 5s50. Kan City Ter 45'60 Karstadt 6s ‘43 Kresge Found Lack St155 A '50... Laclede Gas 5334, Laclede 533 C '53. Lautaro Nit 6s'54. Leh Val cn 45 2003. Leh V cn 4335 2003, Lig & Myers 5s'51.. Lig & Myers 78’44, Loew's 68'41. ... La& Ark5s°69.... Lou G & El bs A’62. L &N uni 4s'40. L& N 53 B 2003, Lycas 68'34.... McKes & R 5%s'50. Manhat Ry cn 48’90 Marseille 6s °34. Milan 6%s '52. Mil E Ry&L 55 MSP&SSM cn 4538 MSP&SSM én 5538 MK&T4sB'62... MK & T 1st 4390, MK&TG5SsA62... MK & T adj 55'67. Mo Pac gn 4s°'75... T Mo Pacrf 5s A '65. Mo Pac 5s F'17. Mo Pac 58 G '78. - - » BHOARRHR CAN-RE DA NON A 0. Mo Pac5s1°81.... MoPac5%sA’49.. Mobile-Ohlo 5s '38. Mont Pow 5s'43... Mont Pwr 55 A *62. Mor&Co 1st 434s'39 ssau Elec 4s *51. Nat Dairy 5% s'48. . Nat Steel 5s " . N Eng T 1st 5s '52. N J Power 6s'60. ... NOT& M5sB'54. NOT&M5%s'54. Nw S Wales 5s'57.. Nw S Wales 5s'58. . N Y Cent 3%4s'97.. N Y Cent db 45 '34. NYCent4s'ss.... 5 NYCrf4%s2013. 15 N Y Crf4%s2013n 55 NYCrf5s2013..,118 N YCentdb6s'35. 2 NYC&StL 1st 4s'37 3 NYC&StL 4%s'78. 57 NYC&StL5%3A'T4. 26 NYC&StL 1st 6532 2 NYEdison5s B'44 1 N Y Edison 5s C'51. 12 NYEdrt G%l"l. N Y EL H&P 4549, NY EL H&P 5s°48. NY NH&H 4%s 67 NY NH&H 6348 NY O&W gn 4s NY O&W rf 4s N Y Steam bs ‘56 Nord 6%s°50 Nor & Wnen Nor & Wn div 4s'44 North Am Co 5s'61. Nor Am Ed 5s C'69. Nor Am E 5%s '63. Nor Ger Ltd 63 °47. Nor Pac gn 35 2047. Nor Pacr 1 6s 2047, Nor St Pw 5s A "41. Nor St Pw 6s B"41. Norway 5s '6: Norway 5%s'65. Norway 6s'43. Norway 6s’44. Norway 6s°'52. Oreg-Wash 4s°61.. Pac G&E 5s 42 Pac T&T 1st 7. Pac T&T rf 6s°52. . Param-Pub 5%8'50 ParisOr 6 Penncn 4%8°60.. Penn gn 4%s '65 Penn 4%sD'70.... Penn 4%s5'63...... Penn 5564 Penn gen 5568 aSraunRurnananSanHnOANBANE Peop Gas ref 5s'47. Pere M 1st 45 '56. .. Peru 6s°60 Peru 63'61. . Phila Co 5s '67 Phila Elec 4s ‘71 Phila & Read 6349 Phillip Pet 58’39 Pillsb F M 6s°43 » "5 Port Gn El 4 PorRAmT 2., Pos Tel & C53'53.. Prussia 6s°52...... Prussia 6%s ’l,l.‘l ® Queensland 63 °47.. Read Jer Cn 4s'51. Rem R 5% sA'4Tww Rhinelbe U 7 Rhine Wi Rhine West 6s Rhine West s Rhine West 7s Riode Jan 6% R Gr do Sul 6: Rio Gr W clt 45'49. RIAr&L4%s’'34. Rome 6%5°'62...... 1 Royal Dutch 4s°¢5. Rumania 78 °59.... StL IM R&G 4s'33.. St L&SF 43 A ‘50, [ StL&SF 4%s'78. 5 Saxon P W 6%: Saxon 7s'45. .17 Seab AL 6sA5.. Stlesia Prov 7s Sinc Ol 78 A '37. Sinc P L bs ‘42 Skelly Ol 5%3°39. Solssons s '36. Sou P 4%s’69 ww. Sou Pac 43%s'81 ". .39% Sou Ry §%8s Ja34 s Bouny MAD it & % | Bache of J. S. Bache STEEL PRODUCTION | |ADVANGES SHARPLY % |Step-up in Production Marks Fourth Consecutive Weekly Gain. By the Associated Press. NEW YORK, April 22.—Steel ingot production this week has risen to 23 per cent of the country’s capacity from 191 per cent last week, and may be further increased within a few days by the starting up of the Carnegie Steel Co.’s rail mill on a recent order from the Erie Railroad, says the Iron Age. The present rate is not only the fourth com- secutive weekly increase, but it is the highest in about a year and is above the monthly average for any month since March, 1932, as computed by the American Iron and Steel Institute. “The cheirman of the United States Steel C tion on Monday an- nounced a.21 per cent rate for the cor- poration’s subsidiaries. Some of the smaller emnugmlu with a narrower range of products are working at con- siderably higher rates. Outstanding are the Detroit independent plant, which is at 100 per cent of ingot capacity, and a Northerr Ohio sheet producer, which is Tunning at 50 per cent. Automobile orders are responsible for these high operations, some motor car plants hav- ing expanded their schedules to such an extent as to work overtime. Improvement General. “Almost _every district except the At- lantic Seaboard has shown marked im- provement within the piast week. The Pittsburgh district is now at 18 per cent, | the Chicago district about 23 per cent, Cleveland is at 35 per cent, Youngs- town and adjacent Ohio districts at 23 per cent and the Wheeling district at 40 per cent. There have also been gains at Birmingham and Buffalo. Aggregate orders received by some steel companies thus far in April are considerably in ex- cess of their entire March bookings. “Accompanying the further gain in production is a strengthening of prices of raw materials, with advances in scrap in nearly all important districts aver- aging about 50 cents a ton, which brings the Iron Age heavy melting steel composite up tq $7.67 a gross ton, the highest since early October and slightly above the average for 1932. Pig iron prices are firmer in the principal pro- ducing districts, with an outright ad- vance of $1 to $2 a ton on Southern iron, depending upon the destination. This rise was preceded by more wide- spread covering by melters than has | been in evidence at any time in three | years. X | makers of galvanized sheets | have announced an advance of $2 a ton to 2.70 cents a pound, Pittsburgh, and 280 cents, Chicago, effective at once, | though it may be some weeks before the | new price is tested because of conuact! coverage at 2.60 cents, Pittsburgh, for | this quarter. On the other hand, the | price of steel plates at Pittsburgh has declined $2 a ton, but this is a belated recognition of marked weakness that has existed for several months in the Eastern section of the country. The reduction in the Pittsburgh quotation | brings the Iron Age finished steel com- | posite to 1.867 cents, or $2.56 a ton be- low the average of March, 1922, the, previous post-war low point. Because | of the fact that the new Southern pig iron Prices have not become established by sales, the Iron Age pig iron composite | 1is unchanged at $13.68 a gross ton. “Although automobile tonnage and | releases of tin plate by can manufac- turers continue to be the outstanding influences in raising steel production, there are evidences of greater diversi- fication of orders. Some of the new steel business seems to represent de- layed March demand and is plainly of a seasonal character, but there is almost a complete absence of speculative buy- ing, except to some extent in pig iron, and virtually all orders atg for imme- diate shipment, the urgeht demands making it difficult for mills to meet de- livery requirements. “Structural steel awards this week have shrunk to 4,200 tons, and it is ap- parent that there will be no immedi- ate revival of importance in construc- tion work without Federal aid. “The brewing industry is contribut- ing some orders, but many brewers are delaying plans pending a clarification of the outlook. In three issues of the Iron Age, including this one, brewery construction projects totaling about $17,000,000 has been listed.” _—— EXPANSION IS PLANNED ON COMMODITY MART Speclal Dispatch to The Sta NEW YORK, April 22—In response to many inquiries which have been re- ceived regarding the new Commodity Exchange, Inc., a special committee has been designated, headed by Harold S. che & Co., to co-op- crate with Stock Exchange and other commission houses and to arrange to obtain options for the purchase of ex- tra memberships from members who as a result of the consolidation of the National Raw Silk and Metal Exchanges, Rubber Exchange of New York and New York Hide Exchange, have such mem- berships available. Other members of the committee are: J. Chester Cuppia of E. A. Plerce & Co., Paolino Gerli of E. Gerli & Co., John L. Julian of Fen- ner, Beane & Ungerleider, Jerome Le- wine of H. Hentz & Co. and Charles Slaughter of Slaughter, Horne & Co. ———————————— i o dom SW Bell TEsA 'l St O1l N J 6548, 102 101% StOIIN Y 4%s 51, 90 89% Studebaker 6s°42.. 30 Sweden 5348 °'54 Swiss 5%s"46 Ter As St L 55°44.. Tex Corp cv 53 °44. Tex & Pac 53 B'77. Tex &P 58C'79... Tob P NJ 63%s 2023 Tokio 5s 62 Tokio 5% 61 Tokio El1 Lt 3. Union EI L&P 5857 UE&P 1st 5%8A'54 Un Pac 1st 4547 UnPacds’es, .. Un Pac rf 43 00 Un Pac 4%s Uait Drug 53’53 U'S Rubber 53°47. Un St W 6%s A'51.. Un St W 6%sC'51.. Uruguay 65 °60.... e GO ANANIDNANNHRDRND HNHHOABNONN N forey Util Pw 5559 ww.. Util Pow 5%3°47.% | Vanadium St 58'41. Va Ry 1st 58 A'62.. VaRy & Pw b5 '34.. ‘Wabash 448" Wabash 1st il, 9. - w0 s West Union 6s °51.. ‘West Union bs ‘60.. West Un 6%8°36.. o 91 Pt JHRTRR. 14 -9y Wis Cent Tm 4°36. 3 33% | Yygstn SAT 53 A’78. € 28 .nYgatn SAT 5. ¥ ? CURB SHARES RISE IN FINAL TRADING Metal and Public Utility Shares Lead Advance on Brisk Buying. BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, April 22.—The Curb Exchange finished actively and higher today, after a period of early hesitancy, which was followed by' brisk bidding for selective groups gnd then a gen- eral buying wave. Electric Bond & Share in the final minutes was bid up more than a point. A similar move took place in American Gas & Electric. Standard Oil of In- diana hurried its upward pace. Mean- while Bunker Hill-Sullimn Mining broke 4 points, typifying the.trend of silver securities. Mining, failed to share in the marked such issues on the big board. Citles Service eased. The advance was spread over most sections of the list, but metals, oils, textiles and specialties were most fa- vored. Standard leaders like Electric Bond & Share, American Gas & Elec- tric, Cities Service, American Super- power and American & Foreign Power warrants either were unchanged or slightly lower. Metals led the upswing. The advance in copper prices lifted the red metal shares. Gold stocks then forged ahead, several of them reaching new highs on | a few transactions. Newmont Mining | hardened. During this period, how- ever, New Jersey Zinc softened. It was the Canadian group of Stand- ard Oils that set the pace for the pe- troleum group, as International Petrol- eum touched a new peak and Imperial | Oil, Ltd.,, improved. Standard Oil of Indiana and Standard Oil of Kentucky pointed upward. the miscellaneous oils during this phase of the session Gulf Oil was down about a point and Texon Oil active but not much changed. o BALTIMORE STOCKS. Special Dispatch to The Star. BALTIMORE, April 22.— Sales. tocks. 215 Arundel ~Corporation 85 Black & 2C. & P. Tel. Balto., 26 Consolidated ' Gas com 66 Eastern Rolling Mills com. 115 Houston ‘il Did vic, . r 0 Muy;‘nm Cg\lllty Co. ey e 3 am Cas. Co.. 45U. 8. Fidelity & Guaranty Last Sales. 6520 2Am Rad 47.s 37 27 Am Roll Miil 55 4 Appaich Pow 5s 6'Asso El Ind 4'as 10As50 G & E 4135’4 SoERSE 2R 1 '« | Gorham vte (1) 4 9 5Cent Pw & Lt 55 '56. 50 1Cent Sta Elec 5s '48.. 31 8 Cent St El 5las '5 2Cnt Ct P&L 5 423 44 % A Af 100 10 791 T o ftd ER2EAR oF S ORI ASES) H000000) 55 Rub_ 5lgs, 1 Cent 4%s | Pw & L ) Za. np P & erstate Pw Pw g 55 Pt P 5s B 61 4155C'61 ers Cn P&L 5sB'47 oppers G&C bs '47 oppr G&C. 538'50 ke Bs 45 < e 25 SIS M SEERAS 454 Stock and Dividend Raf Alabama Pw pf (7) 80s 37 387 Alum Co America. .1350s 56 AlumCoofApf1%. 1 48% Aluminum Ltd... 1 30 Alum Ltd C war. Alum Ltd D war. Am Beverage. ... Am Book Co (4)... 10s Am City PALB1be 2 Am Cynamid (B).. 88 Am & For Pwr war. 17 Am Founders. . 6 AmGas& El (31).. 26 Am Gas & EIl pf(6 Am Investment Am Invest Inc wal 3 Am Laun Mch 40c. 7508 Am Lt & Trao (2) 7 Am Maracaibo. Am St Pb Sve A Am Superpower. ... Am Super 1st pf 6 Am Superpower pf. Ark Nat Gas... Ark Nat Gas (A)... Ark Nat Gas pf.. Armstrong Cork. Asso Gas & Elec, .. Asso Gas&Elec(A) 10 Asso Rayon. 4 Atlas Utliti Atlas Utilities wa: Atlas Util pf A3) Babcock & Wil(1). 258 Be Ind Loan1% 4 Blue Ridge........ 2 Blumenthal (S).. 1 Brazil Trac & Lt. ; 2 4 Sale— te. Add 00. High. Low. 0;-10‘ BrillCorpA... Brillo Mfg (60c). B-A Tb B cu p37.3¢ Bunker Hill & § vtc 258 Burma rcts (pli%c) 2 Butler Bros....... 16 % 3 |cable& WireBreta 3 & & Canadian Marconi. 3 Carib Syndicate... 1 1 53 LA # 6 6 Celanese 1st pf. 2758 Celluloid Corp. 1 Cent States Elec. 34 Chesebrough 16% . 100s Citles Service. . 86 Cities Service pf. 1 Cities Serv pf B 1 Clev El llum (1.20) 7 Col G & E cv pt (5). 758 Comwlth Edis (§).. 17 Comwlth & Sou wr. 43 Cormastock Tunnel 3 Consol Copper. Con Gas Balto 3. Copper Range. Cord Corp (10¢) Creols Petroleu Crown Cork Intl A. Cusi Mexicana Min Davenport Hos 50c. Deere & Co.... Detroit Aircraft. 1 DubilierCond & R. 1 Eastn Util Asso(2) 50s East Util Assocv.. 1 Eisler Elec Corp. 2 El Bd&Share b6% . 198 El Bd&Share pf6.. 3 El Pwr Asso (40c). 2 El Pwr Asso A 40c. 4 ElIP&Lopwar.... 6 Elec P&L 2d pf(A).300s Emp G&F 6% % pf. 258 Fairchild Aviation. 1 Fisk Rubber(new). 6 Ford Motor CanA.. 2 Ford Motor Ltd.... 17 Garlock Pack(40c). 4 General Aviation.. 3 Gen El Ltd 20 2-5c. 1 Georgia Pw pf (6). 508 Glen Alden Coal... 1 Godschaux Sug B.. 1 Gold Seal El(new). 2 Goldman Sachs.... 12 Gorham Inc pf. 12 10 13% Grt A&P T n-v(17). 50s 158 151 Great A&PT pf (7). 1120 120 35% 34 Gulf Oil of Penna.. 12 35% Baltimore Market Special Dispatch to The Star. - BALTIMORE, Md., April 22.—White potatoes, per 100 pounds, 90a1.05; new, bushel, 1.25; sWeet potatoes, bushel, 40a 1.00; yams, barrel, 1.25a1.60; asparagus, dozen, bunches, 7582.00; beans, bushel, 1.0021.75; beets, per half crate, 1.00a 1.25; cabbage, hlmg;r. 75a1.20; carrots, bushel, 50a60; cauliflower, crats, 1.408 1.75; celery, crate, 1.25a1.75; cucumbers, bushel, 2.00a3.50; eggplants, crate, 1.00 a250; kale, bushel, 15; lettuce, crate, 3.25a3.75; onions, per 60 pounds, 30a 1.35; lima beans, bushel, 2.00a2.75; peas, 1.75; spi , bushel, 1.00a1.50; tomatoes, lug, 1.00a 2.75; apples, bushel, 35a1.50; strawber- ries, quart, 8al8; grapefruit, box, 1.50a 2.25; oranges, box, 2.00a3.00. Dairy Markets. Live poultry—Capons, 20a25; young chickens, 20a22; broilers, 21a2 horns, 18a21; old hens, 1 10all; old roosters, 8a9. guinea fowls, each, 25a45; pigeons, pair, | L5 15a20. Eggs—Receipts, 1,596 cases; current receipts, 13%. Butter—Good and fancy, creamery, pound, 22a24; ladles, 17al8; store packed, 13. CREDIT SALES REACH LARGE PROPORTIONS By the Associated Press. The Census Bureau reveals that 34.29 per cent, or slightly more than one-third of the retail trade in the United States, is s0ld on credit. A breakdown by the bureau, by States B = 5 New Eng G&E Bs 47 3 New Eng GAE bs 1 - F 60 88 s B '41105 1 55 C 752 99 L 55 bl 54 *60 "60% 6AY. 69% u:3 2z S 3 - ik e Smail,, R o, %, & GRS afedal, 4o ék” 2% ) oS = g =2 30, 2! : > =kl DNNBRNN ,éggggseszggsgsgggggg vaazz 2, D“g H e DRSO T TN o L0 MDA ANLD 2 TN 1 D DL TN ok 13 1 D L35 s T D LIt NS e 53 <<ddag T T8 B4, GL_ref 5s '5R 82 2 X s A 57 41 401 41 b%s 137 101% 101% 101% % H B2 B3 28Y, 31 a3l oo, et /a | for Pl shows the percentage of such credit sales is highest in Wyoming, where 41.36 per cent of the total sales was made via. credit. The District of Co- lumbia followed closely with & ratio of 4132, followed in turn by Arizona where a percentage of 41.02 was re- Connecticut showed the lowest per- per 12 | centage of credit sales with a ratio of 24.26. South Dakota . was second in this respect with 27.34, followed by New Hampshire with a ratio of 28.14. PARIS BOURSE PRICES. PARIS, April 22 (). —Three per cent rentes, 67 francs 90 centimes; 4l per cent rentes, 87.40. on London, 88.82. The dol- lar was quoted at 23.25. Increase in Auto Output. SOUTH BEND, Ind., April 22 UP).— Officials of the Studebaker corporation said luction had reached its 1 'E:odmonth with 5,000 men D:nf loyed. Some 600 orders will be held over, they said, for May production. Market Averages By the Associated Press.. e gs s i L3 ) 3 sussazsasady BhZaohenan ean0cats Bisto102acS SRnERANRESs BllRbobhUAGSS, - 2ES2I2I Shkankopbs 2am B Shnnoa! SR2IERERIRRS2! e 3! Sen £ o, : Si8te 5 . S e 8 Bolaokds S2E28333, s ™ 2 ra PPN 9 - e E525 1O TIO IO D e Sk g 28S3: 223223228 3 Funisismauwsool oo DBk sEmsguszanssed, No-aonzoua bl N DONIIBNDI] g ; 2, E gBaassEsgseng K= ? Stock and Sale— Dividend Rate. Add 00. High. Hecla Mining. -8 Hollinger Goldt80c 49 Hudson Bay Min... 61 Humble O1l (2) 1 1mp Ofl Ltd cou 50c 41 Imp Ol Canrg50c. 1 Imp To GB&I pébe. 2 Int Hy E1 S ¢ pf 3342508 Int Petrol (1)... L) Int Utllities (B). Italian Superpw A. Kirby Petrolm 10c. Lake Shore M (2).. Lehigh Coal&N 400 Leonard Oil... 4% FINANCIAL. READY T0 REOPEN Early Resumption of Busi- ness Planned by Two Institutions. By a Staff Correspondent of The Star. ROCKVILLE, Md., April 22.—Indica- tions today pointed toward resurhption 4 | South Penn Ofl(1). % | Swite & Co % | of business on virtually a normal basis at Rockville's two banking institutions within the next few days. The Montgomery County National Bank, which has been closed to with- drawals and all but limited Fm of work since the Maryland holiday was declared on February 25, has concluded its reorganization work and is await- ing only the approval of Federal bank- ing officials in Washington before swinging back into its regular routine, George P. Henderson, president, de- clared. Richard F. Green, president of the Farmers' Banking & Trust Co. with- drawals from which ha’e been limited to 2 per cent on pre-holiday deposits since its reopening after the national moratorium, said ¢hat officials of his N ¥ Shipbldg (10c) institution expect to wind up their N Y Transit (30c). 3 3 plans for reorganization today and sub- Niag Hud Pwr (1). % mit them to_the State banking com- Northern P L(50c). 5 5 5 |missioner at Baltimore. North Sta Pw A(4). Plan Explained. Otito Coppar: It is believed that the plans of the two institutions, designed along identi- cal lines, will be approyed immediately by the Federal and State bank officials, for the plans were designed along lines advocated by those agencies when the reorganization work was started several weeks ago. Under the plan, depositors in both 4 |banks will be permitted to_withdraw 85 per cent of the funds tQey had on depoeit prior to the banking holidays 9 and will be given certificates of deposit P |for the remaining 15 per cent. These certificates will draw 3 per cent interest " |and will be retired as quickly as the . | earnings of the banks permit. ; Stockholders in the two banks are required under the plan to put up ad- ditional funds equal to the par value of the stock they hold in the institutions. In addition, dividends on their stock will be suspended until after the de- positors’ certificates have been com- pletely retired. Banking laws require that 75 per cent of the depositors must agree to a plan of that nature before it can be put into effect, while stockholders must 3 % % % |post the additional funds before such 4 a plan can be approved by the Federal T or State banking authorities and put s into working order. Bank Meets Requirements. ‘The Montgomery County National Bank, Henderson said, has complied with these requirements and forwarded the agreements to Washington for ap- proval, while officials at the Farmers’ Banking & Trust Co. probably will finish their work along this line some Sou Cal Ed p? B 1% time soon, according to Green. Stand C& S (2.40) 1 = > Stand O1l Ind (1).. 43 FEDERAL RESERVE RATIO. BtRod Ol arKy (1) =18 | By the Associated Press. Stand Ofl of Ohio. . 5508 Stand P&L pf (7).. 1 The ratio of total reserves of the 12 Stand Silver & Ld.. 161 regional banks to deposit and note lia- Starrett Corppf... 2 bilities combined showed a further gzin Stinnes (Hugo). during the week ended April 19 as the Stutz Motor Car. change was calculated by the Reserve Sunray Oil.... Board. In the table that follows the ratio is given for comparable periods, as announced by the boird: ‘Week ended April 19 Previous week , Same week last year. Libby McNeill & L. Lone Star G bé4c. .. Mapes Con Mfg (3) Mavis Botthng A, Memphis Nat Ga: Mid Sta Pet vic A.. Middle West Util. . Montgom Ward(A) Nat Aviation Nat Bella Hess Nat Investor: Nat Invest war Nat Service. Nat Sugar NJ (2).. Newberry JJ (60¢). ew Bradford Oil. . New Eng Pwr pt(6) New Jersey Zinc 2. Newmont Mining. . Pac G&E 1st pf 1 Pan Am Afrways Pantepec Ol Parke Davis (1). Penroad Corp. Penn Wat & P (3). Pepperell Mfg Co..100s Petrol Corp war... 4 Phil Morris Inc. 6 Pilot Radio Tube A 6 Ploneer Geld (24c¢). 12 Pitney Bowes P.... Premier Gold(12¢). 2 Prudential Invest.. 20 PubUtil Hid xw... 1 Pub Util Hid cpf... 9 Pure Ol pf (1%).. 80s Quaker Oats (16).. 1 Raytheon Mfg..... 1 Reeves D (1%) 3 Roan Antelope. 1 Root Refiningcvpt 2 3t Regis Paper. . 8 Salt Creek Consol.. 20 Salt Creek Prod (1) 6 Scovil Mfg (1).... 50s Segal Lock & Hrd. . Seiberling Rubber. Selected Industries Sel Ind pr pf (5%) . 50; Sel Ind all Silica Gel ct. Shattuck Den Singer Mtg Co Swift Internat’l(2) Tampa Elec 2.24... Technicolor....... Tech Hughes (60c) Texon Of] & Ld (1). Tobacco Prod Del.. Tri-Cont Corp wr.. Tubize Chat Corp.. United Chem pt pf. United Corp war, United Founders. United Gas. United Gas war.... United Gas pf (1).. United Lt & P (A). United Lt & Pwr pt U S Elec Pwr ww.. 61.5 per cent 60.6 per cent. 69.2 per cent | DIVIDENDS ANNOUNCED | NEW YORK, April 22 (®.— #| Reduced. [2 N e o B NooNSwm Hids. of pany. record. of Montrea Apr. k_of Cq TIS-rT) ris Corp . | Royal Bk of g | Accumulated. fi;'mloom Cp pf..$1.75 Q June Regular. Calif Water Ser 6% cum pf...S$1.50 Q May 15 Canadian Hydroeiec 1st pf 150 Q June 1 10c Q May 15 M Q June U S Play Card (1).. 50: Utd Verde Ext 40c. Util Pwr & Lt. Util Equities. Walker (Hiram) Watson (J W) Wenden Copper.... Wright Harg t20c. ‘Yukon Gold. & & Dividend rates in dollars based on or semi O . 615 pi.§ Hannibal Bdge Cq Kan C Stk Yds Do. pf (T TSN c 7% pf Quebec 'Power Rochester G. 0 o 85858 83 85555 mm 1ast year—no’ RANDALL H: ll“Aemn & GOMPANY REAL ESTATE e~ Zn s R PROPERTY MANAGEMENT Statement with remittances forwarded to owners promptly in current months. Careful Supervision of Maintenance Costs NP 133/ Connectiont Soonwa NV MORTGAGS LOAN CORRENIFONDENT ook S BsremesGominy PROPERTY MANAGEMENT Apartment House MANAGEMENT "I'HE watchful care which our Property Management De- partment exercises over all apartment houses placed under our -supervision insures two things—efficiency of service and economy of operation—which in turn operates to increase net revenue. Talk with us about this serv- ice; you'll find it interesting. - B. F. SAUL.CO. 925 15th St. N. Nat’l 2100 MORTGAGE LOANS