Evening Star Newspaper, May 7, 1933, Page 55

FINANCITA IN STEADY TREND frregularity Is Caused by Profit Taking in Some Groups. - BY VICTOR EUBANK, Associated Press Financial Writer. NEW YORK, May 6.—Irregularities caused largely by profit taking in the Tecently buoyant secondary loan groups gave the bond market a rather spotty appearance today, although a firm un- dertone was apparent. United States Government securities, ‘while somewhat quiet, were steady to firm, and best grade corporation ma- turities held to a comparatively nar- row range. The foreign list was mixed. Bonds that breasted the realizing cur- rent for gains of fractions to a point or more included Utilities Power & Light debenture 5'5s, United Drug S5s, Union Pacific 4s, American Telephone debenture 5s, Santa Fe general 4s, Chile Copper 5s, Cincinnati Gas 4s, Detroit Edison 4!,s, Duquesne Light 415s, Mis- souri Pacific 5!,s, North American 5s, Pennsylvania 4!2s of 1970, Phllndclphll Reading Coal & Iron 6s, Frisco 413s, Shell Union Oil 5s, Southern Pacific 4;35 and Standard Oil of New York 4108, Moderate declines were registered by some issues of Alleghany Corporation, Baltimore & Ohio, Canadian Pacific, Chicago & Northwestern, St. Paul, Co- lumbia Gas, Consolidated Gas, Good- rich, Goodyear, International Telephone, National Dairy, New York Central, Nickel Plate, Postal Telegraph and Warner Bros. French government obligations were reactionary, as were some of the Bel- | glans. British 51,5 were easy, but United Kingdom 4s moved above 89 to 8 new high for the year. German gov- ermnment 5'>s and 7s showed rallying tendencies, as did some of the Austra- Hans and Japarese. LEATHER TRADE SEES BRIGHTER PROSPECT Delegates to Semi-Annual Meeting Are Cheered by Recent Rise in Prices. i Bpecial Dispatch to The Star. NEW YORK., May 6.—Representa-| tives of the hide, leather and shoe| trades, now gathering here for thexr‘ semi-annual meetings next week, are more optimistic than at any time in me] last three vears. Some of this optimism has been gen- i erated by the rise in hides, in some in-| stances to double their low prices of | earlier in the year, and in leather, which | is up from 15 to 25 per cent. Although | shoe manufacturers have not yet offi- i cially raised prices, such revisions will | be made next week. | Members of the National Shoe Re-| s' Association are here from all| of the country to witness a1e Fall | show. This promises at least three new Autumnal colors, gun gray, brown taupe and bourbon, and one of the widest lists of styles shown since 1930. ists from the leather, silk and woolen trades will attend. (Copyricht. 1933.) New York Cotton Bpecial Dispatch to The Star. NEW YORK, May 6.—Trading on the Cotton Exchange today reached the largest proportions in several years and the market absorbed an enormous quan- tity of contracts within a range of a dollar a bale. After selling within 5 f the 9-cent level for October, et set back under heavy week\ end profit-taking, but ended with a gain of 1 to 7 points on the day. Spots | ‘were advanced 5 points to 8.60. As has been the case on each up- ward swing throughout the week, the | market met liberal realizing by previous | buyers anxious to secure profits and selling from producing sections, par- | ticularly banking institutions liquidat- ing cotton held as collateral. Con- tracts were taken on moderate reces- sions. According to estimates prevalent in dry goods quarters, while active specu- | lation has been in progress the past fortnight or more, the bulk of buying power has come from the trade itself. ‘The scarcity of goods on retailers’ shelves has been a subject of com- ment during the steadily declining ?ricm of the past twg years and efforts | 0 secure even approximately normal Teserves have resulted in cleaning up stocks in first hands and bringing so large a volume of orders to mill organ- {zations that heavy buying of raw ma- terial has resulted. Spot sales at Southern markets for five days aggregate 110,000 bales as compared with only 29,000 last year, while more cotton was moved from the interior during the week than at this on in many years. Spinners’ tak- s ran heavily ahead of last season and the year before. Inflation, actual and Dobm[isl has created urgent buy- ing in all directions and cotton prices have advanced over 33'; per cent since the suspension of gold payments two months ago. Cotton range: Trade Trends By the Associated Press. Copper—Buying in the domestic mar- ket has turned quiet, but is broadening in the export division, according to trade interests. The price abroad has been marked up to around 6% cents a pound, compared with a recent level of 6’4 cents. Flour—Production in April in the principal milling centers totaled 6,013,- 692 barrels, compared with 5,367,252 in April, 1932, General Mills, Inc., re- ports. | | Alcohol—Trade reports indicate a considerable increase in consumption during the past few weeks. Some con- eumers having contracts for their re- quirements to the end of June are said to be calling for immediate deliveries. Linseed oll—Seed prices continue strong, fostering talk of another ad- vance in oil prices in trade quarters. Steel—Tin plate production, in re- sponse to seasonal influences, has risen to an average of 55 per cent of capacity, and_continues the most active branch of the steel industry. Paint materials—Dealers report some pick-up in demand, particularly in lead pigments, pigment fillers and white zinc oxides. FEDERAL RESERVE RATIO. By the Associated Press. The ratio of total reserves of the 12 regional banks to deposit and note lia- bilitles combined continued to increase during the week ended May 3 as the change was calculated by the Reserve Board. In the table that follows the Teserve ratio is given for comparable periods as follows: Week ended May 3 . Previous week ..... per cent Xm cure or alleviate many of the dis- {CHICAGO LIVE STOCK mm:r BONDS ARE LARGE ~—1933— Low. 9930 Lib 338 1932-47. 99 28 LAb 18t 4 48 19324’ Declines in Tax Coliections Have Caused Stoppage of Interest. Special Dispatch to The Star. NEW YORK, May 6.—If inflation is tressing conditions now prevalling, it cannot fail to make its impression on one of the sorest spots in the invest- ment market—namely, that represent- ing municipal bonds. After the bank “holiday” there was 8 sharp increase in the number of de- mm.s by municipalities. Many cou- pons payable April 1 were returned to bondholders marked “no funds.” It is| expected that there will be nddluomll defaults owing to the fact that money which municipalities had set aside Iorl meeting their maturing obligations is in banks still closed or operating on & restricted basis. ‘This has created & new problem for the officials of cities, towns and coun- ties to solve. Tt increases the embar- rassment that had already faced them | in the difficulty of collecting taxes with which to pay coupons on bonds and notes falling due. The list of local gov- crnments now in default in this coun- try is over 900. It includes about 300 cities and towns, 175 counties, 140 school districts, nearly 280 special as- | ;e;smem and taxing districts, and one | te. | This situation, like many others, is| closely linked with the question of in- | flation. Primarily the difficulties of municipalities are the result of failure ‘to collect taxes sufficient to cover local expenditures, including the item of in- terest and principal on local debts: This is always a sequel of a period of de- pression when the wages or incomes of property owners are reduced to a point where they cannot cover their tax que . Those who advocate inflation a; gue that it permits these property own- ers to liquidate their unpaid taxes as employment and the profits from services and from business gener- | ally increase. There is, of course, another funda- mental element in the municipal bond | situation—the overproduction of securi- tles when times were good and extrava- gance in public improvements was the | order of the day. (Copyright, 1833.) Baltimore Market Special Dispatch to The Star. BALTIMORE, Md., May 6—The live poultry market holds steady to firm, espedauy on large springers 2 to 2!z unds = and over. Plymouth Rocks hrmgmg top prices and with receipts running generally light market shows | an advance of a cent a pound on this | ass of stock. But poor, thin chickens as well as bare-backs neglected and | hud to place. Plymouth Rocks, 1' | to 2!2 pounds and over, bringing to 25 and mixed colored 17 to 25, bu!. White Leghorns, not so desirable and will not bring over 16 to 21. Market | for old hens holds steady and un- changed at 11 to 14 for stock weigh- | ing 31 pounds and over, but Leghorns | will_not bring over 10 to 11 and sll smaller fowl as well as old roosters low sale at 8 and 9. Demand for | young ducks fair but centered on choice fat stock at 11 to 14 and old ducks will not bring over 9 to 11 while poor thin stock slow to move out at irregular values. Guinea fowl and pigeons holding steady and unchanged from last week at 25 to 45 each for the former and 15 to 20 a pair for the latter. Egg Prices. The local egg market continues quiet in tone but shows an advance of a 14 cent a dozen over last week st 13Y4 cents for current receipts, which continue fair and ample with surplus stock going to storage in a limited way. Sales on the exchange only fair and demand on the street shows a slight falling off. Prompt shipments ad- visable as only fresh laid, well graded stock will bring full quotations. Market for white potatoes weak and values show a decline of 10 cents a* 80 to 90 per hundred pounds. Sweet potatoes and yams hold steady and unchanged from last week at 50 to 1.10 per bushel, with Eastern Shore stock bringing top prices, while yams are bringing 1.75 to 2.00 per barrel. Market for native and nearby gar- den truck holds steady with increas- ing receipts of new vegetables and prices are well maintained at the fol- lowing quotations: Asparagus, 1.00 to 250 per dozen; cabbage, 1.00 to $1.25 hamper; kale, 15 to 25 bushel; lettuce, 50 to 1.00 hamper; radishes, 1.00 per hundred, and spinach, 25 to 50 bushel. Live Stock Market. ‘The live stock market on the wharves continues easy under light demand and values show little change from last week. Very few choice stock arriving on the wharves, most of the receipts being common in-between kinds which move slowly at the following quota- tions: Beet cattle, first quality, 5a5'; pound: common to medium, 2'2a41; bulls as to quality, 2a4; cows, choice to fancy, 315a4; common to fair, 2a3: oxen as to qusmy, 112a31%; calves veal, choice, Lnrge fat, 4a4!; large rough, 3';a4; common thin, 2i,a3; sheep, 1153 Spring lambs, choic, 6a7; fair to good, 5a6'2. Fall l]ambs as to quality 4a6; hogs, straight, 3'.a4. Sows, 2!2a3; stags, 11582. g Live pigs, 6a8; shoats, 4a6. Closing grain quotations: Wheat, No. 2, red Winter, garlicky, spot, domestic, 91%; May delivery, 91%; June delivery, 93. Corn, No. 2, yellow, spot, domestic, 58a59; cob corn, 2.75a2.80 per barrel. ts, No. 2, white, domestic, as to weight and location, 36a39; No. 3, 3513 a36. Rye—Nearby bag lots, 60a65. CHICAGO, May 6 (#) (United States Department of Agriculture) —Cattle, 500 head; most killing classes strong to 25 higher; low priced offerings active at maximum upturn; largely steer run with medium weight and heavy steers in liberal supply; all interests in trade; yearling and mixed heifers, also most butcher heifers, 25-50 higher; largely 50 up; bulls, 10-15 higher, and vealers, 1.00 up; cholce yearling steers scarce, top 7.00, but few above 6.50; best heavies, 6.35; largely 4.50-6.00; steer market; best yearling heifers, 6.00! unusually active trade on steers selling at 5.00 down; heifers at 4.50 down and cows at 3.00 and below. Sheep, 3,000 head; today’s market nominal; for week ending Friday, 63 doubles from feeding stations, 12,000 di- rect; old crop classes unevenly strong to 25 higher; most lambs with finish showing the full upturn; springers, 25- 50 higher; closing bulks follow: Desir- able clipped lambs, 5.50a5.75; several loads scaling under 90 pounds, 5.85, highest of week; choice 78-90 pound, wooled lambs, 6.00a6.25; shorn throw- outs, 4.00a4.50; California Spring lambs, 5651690 nulvu, 6.5027.00; fat shorn ewes, 2.0082.8 Hogs, um head, including 10,000 direct: fully steady with Friday's aver- ; desirable 190-300 pounds, 3.90a 4.00; top, 4.00; odd lots packing sows, 3.55a3.60; compared week ago, 10-15 higher; shippers took 200; holdover, 1,000; light light, good and choice, 140- 160 pounds, 340- 75; light weight, 160- 200 poun: 00; medium weight, 200-250 pound.s .9024.00; heavy weight, 250-350 pounds, 3.8004.00; packing sows, medium and good, 2’15-550 pounds. 3.40a3.75; , good and choice, 100- 130 mnds» 00a3.50. y 103 20 10231 UNITED STATES GOVERNMENT. 1102 1 10128 10129 +.1 10330 100 12 Lib 4th 41 s 1933-38. 10228 10211 102 26 +.14 98 29 100 4 102 25 10229 102 25 105 17 107 14 9316 US3s1951-55. 954 US3%s1946-49. . 9716 9526 9710+1.12 . 9827 97 6 9825+1.16 9631 US3%s14 -43 Mar 101 4 100 1 101 3+1.2 3%81941-43 Jun.101 2 100 6 }:o:o +.18 1 2+1. %8 1943-47, ADbitibi P & P, 68 ‘53 Abram & Straus6%s Alleghany Co 5s "44 Alleghany 6 Alleghany 5s 60, Am Beet Sugar ev Am Chain deb 6833 Am Tel & Teleg Hjl‘“.. Am Tel & Tel cl tr Am Tel & Tel deb 5560 Am Tel & Tel 8°65 Am Tel & Tel 5%5°43 Am WIW & Ecol tr § Am Writ Pap 6847 Antiquia 7s A 4!. 4 Argentine Argentine 5% Argentine 6s '59 June. Armour & Co 4%s '39 Atl Coast Iine ¢ % s Atlantic Ref deb b5 '37. 6 4 Australia 4%s Australia 58 2 Austrian 7s 1.,.. B&O st 4 B & O 1st 58 '48. &Oref 58 A 95 & O ref 55 D 2000. &06sC'95. &OPLE& B&OS W Div bs'50. Bangor & Aroos ¢s '51 B B B B Belgium €s'55 Belgium 6%8"49. % Belgium 7s°65 Belgium 78’56 Bell Tell (Pa) 58 B'48. Bell Tell of Pa 5s C '60. Berlin City Elec 6%s'51.. Berlin City Elec 6%s '59. Berlin mun ext 6%s '50 Beth Steel pm 65s '36. Beth Steel rf 5842, Bolivia 7s '69. Bolivia 8s ‘47, Bordeaux 6s'34. Boston & Maine 58 '67.... Brazil 68 1926-57. Brazil Cent Ry 78 '52 Brazil 8s 41 Bremen St: Bklyn Edison 6s A ‘4 Brooklyn Man Tr 6s A’6! Brooklyn Un Gas 58 '60 Budapest 6s '62. . - Buenos Alres prov 63 '61. Calit Packing 5840 Canada 45 '60. Canada 55 '52... . Canada National ¢ *- ‘54 Canada Natl 58 Canad North deb 6% Canad Northn deb 75 '40. . Canadian Pacific deb Canadian Pacific 4%s Canadian Pacific 63 Cent of Ga Ry con 5s 45, Cent Il1 El & Gas 5s ‘51 Cent Paclfic 1strf 4s'49.. Central Pacific 6s 60. Certain-teed deb 5% s Chesapeake Corp 584’ Ches & Ohio 438 Ches & Ohlo 4% Ches & Ohio con § Chi B&Q 111 div ChiB&Q4%sB'77 ChiB & Qref5s'71. Chi & Eastn 11 58'51. Chj Great West 48 '59 Chi MStP& P5s'75. 4 Chi M St P& Padjbs.. Chi & No Wn ¢%s 2037... Chi & No Wn 4148 C 2037, 4 Chi & Nwn 4%s'49. 93% 2% 67% 40% 20% 20t Chi & Nwn 6%s'36. e Chi Rallways 1st 55 '27... Chi R I & Pac ref & ChiR14%s’52.... Chi Rock-1s] 4 %8 '60. Chi Union Station flfil" Chicago Un Sta 58 °6: Chi Un Station 6% s Chi& West InA 6%s Childs Co deb 5543 Chile 6s Sept Chile Copper deb Chile Mtg Bk 65 '61. Chile Mtg Bank 6% '67.. Chile Mtg Bank 6% '56. . Cin Un Term 6s 2020. . CCC&StLrt4%sE"7. Cleveland Term §s B '73.. Cleveland Terminal 5% Cologne 6%s '50. . Colombia 6s '61 Jan ColombiA §s 61, Oct. Colon Ol 6s°38. Colo & Sou ref 4 Columb G & E 5352 May. ColumbiaG & E 61 Comm Invest 53 s ‘49 Con Coal (Md) ref g8 50 Cons Gas N Y 434851 Consol Gas 58 '57. Cons Gas N Y db 5548 °45. Copenhagen §s Cuba 58 '45 Cuba R R 1st 5s'52. Cuba North 5% s '42 Czechoslovakia 88 °6 Del & Hud ref 43 Denmark 4%s '62. Denmark 5%s '55. Denmark 65 42..... Den & Rio Grande cn 48 Den & R G West 58 '55. Den & R G West ret 68°78. Det Edison ref 5s ‘52 Dodge cv deb 6840 Duquesne 1st 4%s Duquesne 4%s B '57 Dutch Kast Indjes Dutch East Indiet East Cuba Sug 1% 37... Erie con 45’96, Erfe gen 45 '96 Flut 78 Finland 7: Fisk Rubber 1 Flor East Coast 58 '74 French 78°49. . French 7%s "41. Gelsenkirchen Gen Theater Eq 63 ‘40 German Bank 6s '38 Ger Cnt Ag Bk German Gen El 6: German Gen El 78’45, German Gov 6% German Rep 7s '49 Goodrich 63 '45 Goodrich (B F) Goodyear Rubber 53 Grand Trunk 6s°'36. Grand Trunk 7s '40. Great North 4%s D" Great Nor gen 5%s B '52. Great Nor gen 78 '36. Hudson Coal 6862, Hudson & Man adj 6s '57. Hudson & Man rf 58°57... Humble Oil deb 58 37, 111 Bel Tel 1st rf Illinois Cent rf 4 Illinois Cent 4% Inter Rap Tran ref bs Inter Rapid Tran 6i Inter Rap Tran ¢! Inter Cement b3 Inter Gt Nor adj [nt Hydro Elec 6 Inter Mer Marin Inter Paper 58 A 41 100 90 103 100% 101% 101% 97 9815 964 97% 784 841y 40% 84 567 ban 6074+10% 0% T1% 1013 103% 92% 87 1% 81% 8% 354 22% 7 +4% +8% =3 —2% —44 —2% ) 40% 51%+11% 8 8% — 11% 9 121 -1 +1 +1% +7 +4 + % —1% + % +1 +T% +dk Italy P U Credit 7553 Japan 5%s '65. . Japanese 6% Kan City South 38 Kan City South s '50 Kan City Term 1st 4. Kan Gas & Elec 448 Kendall 5%s'48 ww Lack Stl 15t 55°50 Laclede 5%s D "60. Leh Vi & Myers 68 61 oW 1941 Lorrillard (P) Lorrillard (P) 78 '44 Louisiana & Ar'c 5s ‘69 Loulsville G & E 63 A '52. Louis & Nash uni 48°40. .. 1 Lyons 6s’34...... McKesson & Rob 5% s ‘50 Man Ry N Y cn 4s'90. Market St Ry 7s A "40. Marseilles 68 '3. Midvale St & Milan 6%8°52. Mil El R&L 1st ref 6. Mil El R&L gn ref b8 1!.. Mo Kan & Tex 1st Mo Kan & Tex ad) 68 'l‘l Mo Pacific 5s F'77 Mo Paific 5s G '18 Mo Paclfic 5s H '80 Mo Pacific 55 1 % Nat Dairy Prod 5%s '4! New England T 1st 68 '52. New Jer P&L 4345'60. ... New South Wales 5s '57.. New South Wales bs ‘58 N Y Cent deb 48 ‘34 NYChi&StL4% N Y ChI&SIL rf 5% 8 A'T4 N Y Edison 5s B 44 N Y Edisonrt 6%8 ‘41 N YN H&Hart 43486 NYNHG&Hclt 6540 NYNH&H 6548 N Y Rys Inc 6s '65. NY Tel gen 434539, NY W & Bos gen 43/ Niag Share Md 5% . Nord Railways 63%s ‘50 N'folk & W 15t con 48 '9! Norf & W ai s "44... North Am 55 6. North Am Ed 5s North Am Ed s North Ger Lloyd 6 i Nor Ohlo Trac & Lt 6s North Pacific 3s 2047, North Pacific 45 *97. North Pacific 4%s 20 North Pacific 58 D '"|1. North Pacific 63 2047. 4 North St Pwr 1st 58 A "41. 99y 1077 101 108% 100 167 164 10615 10415 91y 735 B8La 41 5% 4« Rome 61 Nor St Pwr 18t 6s B 1941, Norway 5%8 '66. - Ore Wash RR & N Orient Dev 5%s '58. Orfent 6353 Paciflc Gas & Pacific T & T 1st 55°31 Pacific Tel&Tel rf 58 Para-Fam-Lasky 63 Paramount Pub 5% Paris Orleans 55 '68. Penna cn 435 '60 Penna gen 4%s 6 Penna RR 4%3 D 10 Penna 4% "63..... Penna 55 '64. Penna gen 5! Penna 6145 °36. Penn Pwr & Lt Peru 65 60. Peru 6s°61.. Peru 78 '59. Philadelphia Co 5867, Phila El1Co 4s'71. Phil & Read C & 16543, Philips Petrolm 5% s '39.. Poland 6s '40. Poland 7s ‘47 Poland 8s 50 Port Genl Elec Postal Tel & Cab 68 '53. Prussia 6s ‘52 Prussia 6% Pub SvcE & G 48 Pub Serv Gas 4%48°67.... Pub Serv Gas 414s'70.... Pure Oil 5583 Queensland 6s 47, Queensland 7s "41. Reading 4348 A '97.. Rem-Rand 5%s A 47w Rhinelbe Union 7s "46. Rhine Ruhr 6s '53. Rhine Westphalia Rhine West E1 P 6s'53... Rhine West El 6355 ww. Richfleld O11 Calif 65 '44. . Rio De Janeiro 6%s '53.... Rio de Janeiro 8s "4 Rio Grande Do Sul Rio Grand West 43 col ‘4 RIArk &L 1st4%s'34.. 8'52. .. Royal Dutch 4s 45 Rumania 7s°'59.. SLIM&SR&G4s'33 StL&SF4sA'50. 4 StL&SF 414578, 50 72 1% 4214 StL&SF bsB'50. StPKCSList4% Sao Paulo State 7s '40. Sao Paulo £5 50 Saxon Pub Wks 635 °51. Saxon 7s "45. Seaboard A L ref 43’5 Seaboard A L 6s'45. Serbs Croats Siov 7s '62. Serbs Croats Slov 8s'62. Shell Union Of} 55 47. Shell Union Ofl 5349 ww. Sinclair Ofl 6145 B '38. Sinelair O11 78 A '31. Sinclair Pipe Line 5 Skelly Ofl 5439, Southern Bell T&T 58 '41. Sou'west Beli Tel 55 A 54 South Pacfic col 4549, .. South Pacific ref 4s ‘55 South Pacific 43s°68..... South Pacif 4155 °69 ww South Pacific 44581, South Pac Ore 4%s 17 Southern Ry gen 45 A * Southern Ry 58 ‘94 Southern Ry gen 65 ‘56 South Ry 63856 Stand Oil N J 58 i Studebaker Corp 5! 42 Sweden 538 54. Switzerland 5%s '46. Tenn Copper 6s B "44..... Tenn El Pwr 63 A "47 Texas Corp cv 544 Texas Pacific 55 B " Texas Pacific 55 C 79, ... Third Ave 1st ref 4s'60.. Third Ave adj inc 5s°60. . Tob Prod NJ 6%s 2022, Toho Elec Pwr 78 '55 4 Tokio5%s'61... Tokyo Elec Lt 6s ‘53, UnEIL&P5s°57. Union Pacific 1st Union Pacific 4s ‘68 Union Pac st rf 4s United Drug 5s '53 U S Rubber 58 ‘47 Unit St Wks 63s Onit Stl Wks 633 A '51.. Uruguay 6s°60. 4 Uruguay 6s'64. Utah Power&Light b: Utll Pow s 49 ww Utilitles P & L 5% "47 Vanadium cv 65°41.. Vienna 6s '52. Va Ry & Power 4. ... Virginia Ry 58 A’62.. Wabash 4%s 78, Wabash 1st 5s '39. Wahash 2d 5s 39 Wabash 5s B '76. Wabash 55 D '80. Wabash 5%s "75. Walworth 6s A '45. w-m-r Brs Picev W-rnuw 7858, Western Elee del lhr!llnd 5817, West Pacific 53 A "46. Western Union cl tr 58 ll Western Union bs '51 West Union 6s 60. 3 Westphalia EI P 6s°53... Wilson & Co 1st 68°41.... Yokohama 6s 61 Youngstwn Steel 5 Youngstown S&T 68 B ‘70 9% TT%+11% 17 +11% + % +13% +3% +2% +5% = + % +6% +3% +8 =5 +1% +3% +3% +1% +3% +6% + %) 03 +1 ST+ 104 +4% +T4 +8 +8% +214 +2 +5% +6 +a% % - + % — 1 1% +614 -3 + % 9% (cuunuu From Page ~—1938— High. Low. DIVMAM Mh. Add 19% 13% Standard Brands (1) 124° 121 Stand Brands pf (7). 1% 1 Stand Com Tobacco.. 5% Stand Gas & Elec. 8% Stand Gas&El pf ( 17 Stand Gas&El pf ). 20 Stand Gas&El pf (7). % Stand Invest Corp. 19% Stand Oll of Cal (1).. 1 92% Stand Oil Exp pf (5). 12% Stand Oil Kansas 22% Stand OLIN J (1). 4 Starrett (L 8) % Sterling Secur 1% Sterling Secur pf. 20 Sterling Secur cv pf. 2% Stewart Warner 5% Stone & Webster. 1% Studebaker Corp 9 Studebaker Corp pf. 36 SunoOil (1).. 89 SunOfl pf (6). T% Superheater (50c) % Superior Ofl. 2 Superior Steel 1 Sweets Co of Al % Symington (A) Telautograph (1)... Tennessee Corp..... Texas Corp (1)...... Tex Gult Sulphur(1) Texas & Pacific ‘Tex Pacific Coal&Oil. Tex Pacific Land Tr. Thatcher Mfg Co. The F: Third Nat Inv (90:). Thompson (J R) (1). Thompson Products. Thompson Starrett. . Tide Water Asso Ofl. Tide Water Assoc pf. Tide Wat Ofl pf (5). Timken-Detroft A; Timken Roller Bg(1) 2% Transamerica Corp 2% Transue & William 9 2% Tri-Contl Corp...... 533 41 Tri-Contl Corp pf(8). 9 20% Trico Products(2%). 62 % Truax Traer Coal. 1 2 Truscon Steel. . 8 1% Twin City Rap Tran. 8 5% Twin City Rap Tr pf. 1108 % Ulen & Co. z 9 Und-EH-Fllhlfllfle) Und-Ell-Fish pf (7). 10s Union Bag & Paper.. 10 Union Carb & C (1).. 1254 Un Ofl of Calif (1).. Unilon Pacific (§). Union Pacific pf (4). Union Tank Car 1.20. Unit Afrcraft....... Unit Afrcraft pf (3). Unit Am Bosch. United Biscuit (1.60) Unit Biscuit pf (7).. Unit Carbon. . Unit Corp (40¢). Unit Corp pt (3) Unit Dyewood Unit Dyewood Unit Electric Coal Unit Fruit (2). Unit Gas&Im (1.20). ll'u Unit Gas&Im pf (5). 8 Unit Plece Dye Wks. 30 Unit Pce D W pf 634. 2008 U S Distributing.... 1 U S Distributing pf. U S Express........ U S & Forn Secur... U S & Forn Sec pf... U S Freight. 181 898 395 L] 1% 9% 1% 22 B4 3 51 1108 53 8 T4% P | 8 | = T 60 15% 383 107% 3% 30 134 FINANCIA 2.) 24 L 12% Vulcan 1% 1% Warner Warren Warren Warren I+t b4 $P2 gryess Prrs Wesson Wesson ® ERRFEPET VS Weston Weston Lo PR FE F OFEE RFERF oo«««&l;»o+|¢§1+++o~|4+‘ 5 » Stock and . Dividend Rate. 2% U S Leather . 30 US Leather prpf.... 8% U S Plpe&Fdy (50c). 12% U S P&F 1st pf 1.20. U S Realty & Imp. U S Rubbe: U S Rubber 1st pf USSmtg & Ref (1).. U S Smtg&Ref pt 3% U S Steel. U S Steel pf U S Tobacco (4.40 U S Tobacco pf (7) United Stores (A). Unit Stores pf (3%). Univ Leaf Tob (2).. Univ Leat Tob pf(8). Univ Pictures 1st pf, Univ Pipe & Rad. Univ Pipe & Rad pf.. 2408 Utah Copper. 4« T Util Pwr & Lt % Vadsco Sales Corp... T% Vanadium Corp 1% Van Raalte. . Van Raalte 1st pf 15 Van Raalte pf (sta). % Va-Car Chemical 3% Va-Car Chem 6% 35% Va-Car Chem 7% p: 65 Va Elec&Pw pf (6) Western Maryland. Western Md 24 pf Western Pacific. . Western Pacific pf... Western Union. . Westing’se Alr B(1). Westinghouse Elec. . 12 Westinghse 1st (3%) 260s Westvaco Ch] (40c). . Wheeling Steel..... White Motor. White Rock M 8§ (2). White Sewing Mach. White Sew Mch pf. Wileox Oil & Gas. Wilcox Rich A (2%). Wilson & Co. .. Wiison & Co (A).... Wilson & Co pf. Bales— Add 00. 157 107 2 872 63 908 102% 908 1101 41 Detinning Wabash RR . Wabash pf (A) Waldorf System (1. Walworth Co. Ward Baking (A). Ward Baking (B) Ward Baking pf ( Warn Bros Picture! Quinlan. Bros.. Bros v pf. Found & P Webster Eisenlohr. . O & Sn (50¢) O&Sn pf (4). West Pa Elec A (7) West Pa Elec pf (6). West Pa Elec pf (7). 12404 5t West Pa Pwr pf (6). West Pa Pwr pf (7). 1508 Western Dairy pf A.. 4908 1408 FERsseERaz s Elec Instru.. 21 El Inst A 6 L4+ 44+ 4444 +4 4+ 09 FFE Woolworth (2.40) v o 4+ 2% Worthington Pump. Worth'n Pump pf B... Wright Aeronautical 140s :w, Wrigley (Wm) (3). 55 7 Yale & Towne «GO:). 24 Yeliow Truck. 27 18 8% 224 Yellow Truck pf. 3% Young Spr & Wire... 7la_Youngstown Sh&Tz. 450 1 34 Zenith Radio. 6% 3% Zonite Produc Dividend rates as given in the above table are the annual cash payments based on the latest quarterly or half-yearly duhnnnm *u. it of trading 4% in stock tock, 8 Paid stock. e Payable in cash or stocl in special preferred stock. less than 100 shares "Partly extn last year—no regui }’nu in nocx Plus & Payable in sc b Paid this year. INCREASE IN CANDY BUSINESS PLANNED | Confectioners’ Association Will Discuss Sales Drive at Con- vention in Chicago. By the Associated Press. CHICAGO, May 6—Instead of ac- as & matter of course, the candy busi- ness aspires to achieve an enlarged | market on a profitable basis. Leaders of the National Confectioners’ Association say this matter of expanded | a major goal of the of production, is industry for 1933. A new analysis of the economics of | the confectionery business is to be the | dominant theme of the association’s convention in Chicago, June 19-23. sales branch of the industry has come from latest figures on candy exports, *| which for months lagged behind im- | ports of European sweets. | "Now exports have recaptured the | lead. at $60,000 against imports valued at $45,000. Exports, however, only a fraction of the industry's sales. Figures on collections from the 2 | per cent Peceral excise tax on candy since last July indicate that sales of the confectionery business, even under present conditions, approach $200,000,- 000 & year. GREEN ELECTED HEAD Bpeclal Dispatch to The Star. ROCKVILLE, Md., May 6.—After the stockholders of the Farmers’ Banking & Trust Co. of Rockville had, their annual meeting here, elected a board of directors for the ensuing year, State Senator Robert G. Hilton announced that he did not consider president of the institution, a position held by him ever since 1910, and, upon his motion, Richard F. Green of Ken- sington was unanimously chosen to suc- ceed him. All other officers were re-elected, as follows: First vice president and attorney, Al- bert M. Bouic; second vice president, ‘Thomas W. Perry; third vice president, E. Brooke Lee; assistant secretary, J. Hampton Jones; treasurer, F. Bache Abert; teller, Hilton Darby: stenog- rapher, Mrs. Francis Lyddane; book- keeper, Mrs. Russell Bogley; clerk, Mrs. Joseph Stimek. The number of directors -was in- creased from 8 to 15. Messrs. Hilton, Bouic, Perry, Lee, Green, Thomas D. Darby, Richard E. Darby and Dr. Dex- ter M. Bullard were re-elected and the new members chosen are W. Reuben Puluphrey. George F. Pollock, Louid D. Bell, Edgar Reed, G. Edington Bell, Edwin W. Broome and Charles C. Jones. unctioning on & 100 per cent basis ‘after having operated under re- :t.r;cfiou ever since the banking holi- EARNINGS REPORTED. NEW YORK, May 6 (#).—Per share earnings of cf tions re) ing in the past week, with compa with the previous year, included the fol- lowing: Quarter Ended Mareh 31. Siandard oll of Indians e " Gold lllui. e cepting declines in volume and price | sales, no less than solution of problems | One ray of encouragement for the | | Department of Commerce sta- | tistics for March show exports valued | represent | OF BANK AT ROCKVILLE | at | himself physically able to continue as Senator Hilton was re-elected secre- | tary and was made chairman of the board of directors to succeed Mr. Green. | CORPORATION | REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS, NEW YORK, May 6 (#).—The fol- tion news prepared by Standard Statistics Co., Inc., New York, for the| Associated Press. Afreraft. | Curtiss-Wright Corporation net in- come, quarter ended March 31, $4,753 | V8. $302,013. Building, Real Estate & Related Lines. | _American Radiator & Standard Sanitary Corporation acquired Ross Heater & Manufacturing Co. of | Buffalo, N. Y. International Cement Corporation de- ficit, quarter ended March 31, $180,- 858 vs. deficit $409,713. Ulen & Co. deficit, quarter ended March 31, $19,997 vs. net income $85,721. Coal and Coke. Pacific Coast Co. deficit before in- | terest, quarter ended March 31, $28,- 846 vs. deficit $15,467. Machinery. | Allis-Chalmers Manufacturing Co. gets $1,100,000 contract from Govern- ment for four hydraulic turbines for Hoover Dam. Metals (Non-Ferrous). Howe Sound Co.—Increasing produc- | tion at Mexican properties by about | one-third because of higher prices. Miscellaneous. Coty Inc.—1932 common share earn- ings 34 cents vs. 65 cents. National Surety Co.—Committee headed by C. P. Boyce announced that its counsel were investigating legality of reorganization plan effected by G. 8. Van Schaick, New York State super- | intendent of insurance. oil. Amerada Corporation deficit, quarter ended March 31, $201,939 vs. net in- come, $225,383. Atlantic Refining Co. has met price of 25 cents for East Texas crude oil posted by Sinclair-Prairie Marketing Co. and Magnolia Petroleum Co. Simms Petroleum Co. deficit, quarter ended March 31, $238,890 vs. deficit, $226,899. Standard Oil Co. Louisiana subsidiary posted flat price of 25 cents a barrel for crude in parishes. Factory Deal— Eumored. DANVILLE, Va., May 6 (Special). — A meeting of the Pinance Committee of Short Interest Declines. NEW YORK, Ma; interest in stocks York Stock Exchange on May shares from the figure of April 3, the Exchange announced today. SHORT-TERM SECURITIES. (Reported by Chas. D. B.rneymul Co) Allis-Chalmers Qo. 5s. 1937, ] Sugar 6s Belat TAl em_ Steel Chlifornia Packing bs 1040 Ganadian Nor. Ry. 4%s 10 1915 Chesa. & Ohio Rw) 10: an 1934 o y. 4128 1935 Commercial Credit 5%s 1935 Delawars & Hudson 6s 1035 Den. & Rio Grande 425 1936 Edison, Elec. Tilum. 43 1 S0 DINBSD. 2R SREBIR the City Council has revealed that New | York interests are seeking to purchase | the idle plant of the Dan City Silk| Mills here. 6 (#).—The short | 1415330 shares, a decrease of 49,544 | RISE IN TIRE PRICES IS FIRST FOR YEAR Mark-up Was Induced by Reeent Advances in Quotations for | Rubber and Cotton. lowing is today’s summary of important | Special Dispatch to The Star. NEW YORK, May 6.—Higher #ire | prices asked by mail order and oth |large distributors, !nmnf today, marl the first upturn revision since last June, when the Federal tire tax was imposed. advance in tire quotations, ;which does not bring them to a level as high as last June, reflects rising prices of commodities, especially crude rubber and cotton tire fabrics. Crude rubber is now selling around 4!, cents a pound. This contrasts with 2.98 cents on March 28, when tire prices were lowered to meet mail order com- petition. The record low price for crude rubber this year was reached February 27 at 2.81 cents a pound. | Standard tire fabric descrxpflam. 'such as the 23s, 5-3 ply, 11-16 inches | staple cotton tops, American carded peeler cords, today are quoted at 2273 to 2317 cents a yard. Although nom- inally this price is unchanged from March 28, actually the tire fabric deal- ers were making sales around 20 to 221, cents at that time. Wlth crude rubber fully 11, cents s pound higher and tire fabrics on the average a cent a yard higher, tire prices were naturally in line for an advance. (Copyright, 1933.) Butter Prices at High Mark. CHICAGO, May 6 () —Future de- liveries of butter reached the highest levels of the year on the Mercantile Exchange today, with the November delivery going to the highest price reached since 1931, 241 cents a pound. FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal gold Selling checks London, pound. Paris. franc (New Jersey)— | pr, Copenhagen, Oslo. crown Stockholm. er Montreal. almum Tols. U.S. TREASURY CERTIFICATES (Reported by Chas. D. Barni Bate—Maturity Bic, " * Ofer What Things Cost (Complled by aune-m Statistics o NEW YORK, May 6 (#).—Of the | important Commodinfi in the followi table, 17 are higher in price than ls week, three are lower and five Temain unchanged. Fourteen re at their highg | for 1933 and two are nt their lows.