Evening Star Newspaper, June 20, 1933, Page 15

FINANCIAL. JUNIOR RAILS RISE IN BOND MARKET Speculative Issues Are Most Active—Demand Good for High Grades. BY JOHN A. CRO! Bpecial Dispatch to The Star. NEW YORK, June 20.—Junior rails, many of which reached new high prices for the year or longer, featured an ac- tive and firm bond market today. Although speculative issues were the most active and enjoyed the widest fluctuations, there was a good demand for the better grade and prime secur- # ities, especially those of public_ utility operating companies, from Western banks and investment firms, principally for the account of estates, pension and trust funds and insurance companies. This type of buying once more made it possible for conservators to offer parts ¢ of their portfolios and receive for such offerings good bids. Insurance Block Sold. The broad speculative demand for the second-grade rails also provided a good channel for the offering of such issues. | Most of the St. Paul adjustments that appeared on the tape Monday, for in- stance, came from a fire insurance com- y whose present financial condition mfll known by the public. Required to meet certain immediate demands, it turned to its holdings of this issue and Tealized more than expected from such ngs. .fl'l'ege %i'c Denver & Rio Grande West- ern 5 per cent issues were the first of the speculative carriers to reach new pesks for the year. St. Paul adjust- ments performed a similar feat. Then | the St. Paul 5s of 1975 ‘moved into new | ® high ground, being trailed by several| ers. ¢lI’mprovement in demand for Western Union Telegraph issues resulted 1rom| the announcement that increased earn- enabled the company to cover its interest requirements a little more than one and one-half times. Earnings for 1932 failed by $842,595 to cover fixed charges, which in 1931 were covered twice and in 1930 were covered 2% times. Recent declines in Western Union obligations tguo;:ed the endinf. temporarily at least, of merger possi- bilities of that company with Postal Telegraph & Cable. Postal 5 per cent ‘bonds also have rallied since the termi- nation of merger negotiations, the re- «covery being ascribed to gains in traffic. St. Joseph Lead 5%s were the first of the industrial group to attaln new altitude levels for the year. Make Best Showing. Industrials and high grade rails made the best showing in the afternoon. In the former group American Cyanamid 5s of 1942, National Steel 5s, J. J. New- berry 5%s and Penn-Dixie Cement first 6s moved to new high levels. In the latter list, Union Pacific 4s and first ¥ ¢s and Atchison 4s hardened. ‘Meanwhile some of the better type of ndustrials, such as Bethlehem Steel 55 of 1936, Inland Steel 4}¢s and Standard Ol of New Jersey 5s came within small fractions of their best levels for the year. With the exception of American Telephone collateral 5s of 1946, most of this company group firmed, though other high grade utilities were less in demand than earlier in the session. German 7s and some of the Reich utilities regained recent losses late in the afternoon, when speculative forelgn demand, especially for South Americans, seemed less in_evidence than a few & hours earlier. United Kingdom issues at this time were at their best of the day. With the exceptions of Y,-point gains and losses in Liberty first 4s and Treasury 33%s of 1941 the United States Government list moved narrowly despite an increase in turnover. (Copyright. 1033 e Cotton Exchange Seats Off. NEW YORK, June 20.—A New York Cotton Exchange membership —sold yesterday for $21,000, a decline of $500 from the previous on. | INVESTMENT TRUSTS NEW YORK, June 20 (#).—Over-the- @ counter market: Quotations as of 3:30 o'clock. -« Am_ Bank Stock. Bullock Fund Cumuiative_Tr | Gorporate Trust A rate Trus & Corporate Trust A A mod. 0 Corporate Trust Accum Ser. Corp Tr Accum mod Bk 8Sh N Y upe: Super of Am Tr D. Trust Pund Shares Trusteed N ¥ b FOREIGN EXCHANGE. ¥Quotations furnished by W. B. Hibbs & Co.) Nominel gold Selling checks ie today. franc ms, drachma Oslo. ci v Stockholm, crown: . Montreal. discount, SALES. Capital Traction Co.—10 at 10, 10 at 10, 5 at 10, 5 at 10. AFTER CALL. Capital Traction 5s—$1,000 at 45%, $1,000 at 45%; JGeorgetown Gas 55—$1.000 at $1,000 at 10315, $1,000 at 103 at 103%5, $1.000 at 103%. Lanston Monotype—10 at 45, 10 at 45, b at 45. Bid and Asked Prices. BONDS. PUBLIC UTILITY. 103 $1,000 Asked. mer. Tel. & Tel : AmeTrel & Ter cu Ancostia & Pot. R._ Ane%% Pot. Guar. bs & Tei, of V. b ftal Traction R. R b5 &5 ' suburban bs . Potom: Washi E ; ‘Washington i = ‘Wash. Gas 6s. ser : Wash. Rwy. % THE EVENING STAR, WASHINGTON, D. C., TUESDAY, (Sales Lib3%s 32-47. Lib 1st 4s 32-37 Lib 1st4%s 32-4% . Lib 4th 435 33-38 Abitibi P&P 53’53, ADb & St 5345 "43. Alleghany 5s'44 | Alleghany 5s'49... | Alleghany bs ‘50 | Allis-Chalm 5s°37. Am F P 552030 Am IGCh5%s"49. Am Int15%s'49. .. Am Metal 5%s'34. Am Sm&Ref 58 "47. Am Sug Ref 6s°'37. Am T&T 43539 Am T&Tc tr bs Am T&T deb 5s '60. Am T&T deb 58 '65. Am T&T 5%s'4 Am Wat Wks 5; Am W W&E 6s'76 Am Wr Pap 6s'47.. Antioquia 78 '45... Argentine 55 "62. Argentine 6s B '58. Argentine 65’61 M. Argentine 68 " Arm & Co 4% Arm Del 5%s '43 Atchison adj 4s'95. Atchison gn 4s°95. Atchison 434s"48. . AtICLcol 4853 . At] Gulf&WI 5559, Atl Ref db5s'37.. Australia 433356 Australia 5s°'55 Austrian 7s’43. Austrian 7s'57. B&O 18t 48’48, B&O 4%2'60 B&O1st5s’48. B & Oref5s'95. B & O rf 53 D 20 B&Orf6sC'95 B&OP&WV 4s’41 B&0Swdv5s'50. B & Toledo 45'59... Ban & Aroos 4s'51.. Batav Pet 4 44542, Belgium 63 "55 Belgium 6%s '49. Bell Tel Pa 58 B'48. Bell Tel Pa 55 C'60. Benef Loan 6s"46. . Berlin Cy Kl 6s°55. Berlin 6345 '50..... Berlin CEl 6%48'51. Berlin C El 6%s'59. Beth Stl pm bs '36. Beth Stl rf 55’4 Bolivia 75’58 Bolivia 7s "6 Bolivia 8s'4 Bordeaux 6s Bos & Me 4% Bos & Me 65 °'55. Bos & Me 58 '67. Braril 634s '26-'57. Brazil 6%4s '27-'57.. BrasilCR 7s'52. Brazil 8541 Bremen 75’3 Bklyn Elev Bklyn Man 6s A '68 Bklyn UnGas 5s'45. Bklyn Un Gas Bklyn UnGas 5s'57. Budapest 6s'62.... Buff Gen El1 434s'81 BR & Pitts 438 '57 Bush Ter con 5. Bush T Bldg 55'60. Calif Packing 58'40 Canada 4s’60. 3 52, Can Nat Ry 4%s'51 Can Nat Ry 434854 Can Nat Ry 4% #'56 Can Nat Ry 4148’57 Can Nat Ry 4% CanNat Ry 4% 8’56 Can Nat 5869 July Can Nat 5s "9 Oct. Can Nat Ry 55°70.. Can Nor 4348 °35. Can Nor db 634s'46. Can Nor deb 7s'40. Car Clin & O 6s '52. Cent Ga cn 5s°45. 5 Cent I11 E&G 58 '51. Cent Pac 1st 4549, 1 Cent Pac s 60. Cen Ry NJ gn 5587 Cert-td db 6%s'43. 37 1 Chi Ind&L gn 6s'66 4 C M & StP gn 4s'89. 23 ChiM&StP4%sC 5 Chi M&StP 448 E. 2 C M StP&P 58 '75. . 651 CM&StP ad 63 2000 1050 Chi & NW gn 4s'87. 12 Chi&NW 43482037 193 ChI&NW 414sC'37. 62 Chi & NW 4%s'49. 451 Chi&NW rf 552037 37 Chi RI&P gn 4s'88. 7 Chi RI&P rf 45°34. 35 CRIRI&P4%552 39 Chi R14%s’60 CTHASE 1st §5'60. CTH&SE in 5560 Chi Un Sta 4%s '63 Chi Un St 5s'44 Chi Un Sta 55 B C& W Ind cn 45'52. C& W Ind5%s’62 Childs deb 5s "43. Chile 65 '60. Chile 65°61. . Chize 65 '61 Jan Chile 6361 Sept. Chile 65 '63. Chile 78 '42. Chile Cop db 58 '47. Chile Mtx Bk 65 61 Cin Un Trm 6s 2020 | ccoast L 4sETT CCC & St L 55 D'63 | Clev Term 434577, & | Clev Term 6s B '73. 19 Clev Ter 614 5A'72. | Cologne 6%8°50. .. Colomb 6s ‘61 Jan. Colomb 6561 Oct. Colon Ofl 65 ‘38 | Colo & Sou 4143 May 2T Col G Con Con G NY 6%1'45. | Con P Jap 6%s'50. Copenhag 4143 Cuba 5%8'45. - | Cuba RR 1st b3 | Cuba R R 68°36 | Cuba RRrf 7% Cuba Nor b%s | Del&Hud ref 45°43. 23 | Dol & Hud 5%s37. | Denmark 4%s"62.. Deumark §% i 102 102 102 103 98 100 102 102 102 104 106 109 . High. BONDS ON N. Y. STOCK EXCHANGE Received by Private Wire Direct to The Star Office. UNITED STATES. in $1.000.} High. Low. Close. 16 10218 102 102 10 103 1 98 26 1006 1029 1028 10211 104 30 8 10611 30 110 Low Close. 20% 20% 91y 92 58% 584 50% 50% 26 26% 8 1 22 4 8 6 11 25 52 E 102% 102% 5% 5% 8% 79 785 79 91% 91% 55 55% B83% 84Y% 5315 53% 93 9215 6415 6415 7! 102% 103% 101% 101% % 664 Y 93¢ 102 4 1814 59% T1% 96% 53 % 93% 1024 90% 90% 90% 91 106% 106% 8715 101% 101% 1043 104% 103 66% Sales. Hign. Finland 6%s 58 2 67 Fisk Rub 8s°41. Fram Ind 7%s"42. French Gv 7 s French Gv T%s'41. Gen Baking 53540 Gen Cable 5148 '47. Gen P Sv5%s'39.. Gen Th Eq 65 "40.+ Ger Cent Bk 65'38. . 3 Ger Cen Bk 6560 J Ger Cen Bk 65 '60 O Ger Cen Bk 75 '50. . Ger Gen Elec 65'43. German 6%s 50 Ger Gen E17s'45. . Ger Gov 5%565...162 German Rep 7s '49. 55 Goodrich 68 °45. ... 45 Goadrich 6%s '47. Goodyr Rub 55'57.. 40 Grand Trunk 65°36. 3 Grand Trunk 75'40. 14 Gt Brit&Ir 53%s '37 356 Grt Nor 4345 D '76. Grt Nor 4%s E 7. Cirt Nor 55 C'73 Grt Nor 5%s B * Grt Nor gn s Halt1 65°52. Hudson Coal 120 101 85% 5 a1y ass 391y 5lia 30% 10214 T4 Hud & M rfbs Humble Ol 5s '37 111 Bell Tell 5s 56 111 Cent cl tr 45 °53. I1l Cent rf 45 '55... 111 Cent 4%s"66. .. 111 Cent 6125 "36. .. 111 CCStL&N 4%s. . 11l CCStL&N 6s A. . 111 Steel db 434 540 Inland St 4%4s A'78 Int Rap Tr rf 55’66 Int Rap Tr 6s'32.. Int Rap Tr 7s’32.. Int Cement 5s48. . 10314 105% 5919 6715 5614 Int Mer Mar 6s°41. Int Pap ref 5s A'47. Int Pap 6s°55. . Int Ry C A 53°72 Int Ry CA 6%s'47. 1 IntT& T 4%8'39..238 IntT & T 4%s "5 3t ™nt T & T 5s°56. ITtaly 7s°51 Italy Pub 7s'52. Japanese 5%4s'¢5. . J ¢ an Jugosl Bnk 78’5’ Kan CF S&M 45’36 Kan C P&L 4%s 61 Kan City Sou 38'50. Kan City Sou 5s’50. Kan City Ter 45'60. n G&E4%s 80, Karstadt 68'43.... Kresge Found 65’36 Lack St15s A *50 Laclede 5%3C 5 Lake Shore 3148’97 Lautaro Nit '54. Leh Val cn 452008, Leh V cn 43%4s 2003 Lig & Myers 5s'51. Lig & Myers 78 '44. Loew's 65 '41 Lorillard 5; La & Ark 5 Y Lou G & Kl 55 A'52. L&Nunids'40... L &N 4%sC 2003, L& N 5s B 2003. L&NTf5%s2003. Lyons 6s°'34. McKes & R 5%8°50. Manhat Ry en 0 Marseille 6s ‘34 Midvale Stl 653 Milan 6%s '5: Mil E Ry&L 6s"61. MSP&SSM bs gt'38 MSP&SSM 5%s '78 MEK&T 1st 45°90.. MK&TG6sA'62.. MK&T4sB'62 MK & T adj 5567, Mo Pac 5s H'30... Mo Pac 58 1'31 Mo Pac5%s & *49..1 Mobile-Ohio 65 '38. Mont Pwr 53 A *62. Montevideo 75 '52.. Nat Dairy 5% Nat Steel 63 '56. ... NEng T 1st 58 '52.. N J Power 65°60. . 1 NOT&MGBsB'54.. NOT&ME%s'54 Nw S Wales bs'sT Nw S Wales 6s'58.. NYCent3%s'97.. 18 N Y Cent db 45 °34. 102 N Y Cent 45’42 3 N Y Cent 48°98. 6 NYCrt4%s3013. 32 NYCrf4%s2013n 95 NYCrf6s2013... 70 NYCentdbés'3s. 16 NYC&StL 1st 45'37 1 NYCA&StL 4%3°78. 146 NYCA&StL5%8A'T4. 68 NYC&StL 1st 65'32161 N Y Edison bs B'4 N Y Edison 5 NYEArf6%8’41. NY NH&H 4s'57... NY NH&H 4%s '67 NY NH&H 63'48... 2 NY O&W gn ¢s'55. 18 NY O&W rf 4s°92.. 40 NY Rys Inc 6s°65. 61 NYRys6sA’65... 9 N Y Tel gen 4%s'39 33 NY W&B 4%3'46.. 16 Nia Sh Md 5%s'60. 8 ord 6% s '50. Norf Sourf 5s°61.. 5 Nor & Wn cn 4s'96. 20 Nor & Wn div 4s'44 1 North Am Co bs’61. 14 or Am Ed 55 C'69. 19 or Am E5%s'63. 4 Nor Ger Ltd 6s’47. 13 Nor OT &L 63 '47. Nor Pac gn 3s 2047. 12 Pac 4s'97..... 16 of Pac 4168 2047. Nor Pac r 1632047, 37 Nor St Pw 55 A "41. Norway bs 63 Norway 5%s ‘66 Norway 6s'43 Norway 6s’ Orlent Dev 5% s 3 s | Orfent Dev 65 '53. . | Ore Sh L 5s gt 46. | Oreg-Wash 48 61.. Pac G&E 5s’42. .. Pac T&T 18t 6s'37. Pac T&T rf 58 °'62.. Pan Am Pet 63 °40. Paramount s '47. . | Param-Pub 5%s'50 | Penn sta 45 48. Penn 4%s D'31. 60 Penn 4%s D Penn 4%s'63. Penn 586 Penn gen 53 '68. Penn 6%s '36. Penn P&L 4% Peop Gas ref Gz Peor & E inc 4s Pere M 1st 4 ! Pere Marq 4% | Pere M 1st 58 °56. Peru 6s'60. u 63 °61. Phila Co 58 '67. Phila Elec 43°71 Low. Cl 6 69% 5 130 101 Low. Close. Pure Oi1 5% "4 % 7% Queensland 7s’41.. Read 4% A '97.... Reading 412 B'97. Read Jer Cn 4s'51. Rem Arms 63 A '37 Rem R 5% 3A4Tww Rhinelbe U 73°46.. Rhine Ruhr 6s'63. Rhine West 63 '52. Rhine West 6s'53. Rhine West 6s '55. Rich Oil Cal 6s'44. Rio de Jan 6% RGrdoSul 6s 6 R Gr do Sul $5°46... RIAr&L 4%s 34, Rio Gr W 1st 4539 Rio Gr W clt 4s'49. Rome 6%s 52 Royal Dutch StL IM R&G 4s’ St L&SF 45 A '50,. StL&SF4%s'78. StL SF 4%s'T8ct st St L&SF 5s B '50.. St L SW st 4s'89 St L SW 1st 6852, StP&KCSL 4%8'41 St P Un Dep 58°'72. San A & A P 4s’43. o Paulo 78 "40... Sao Paulo 8s'50. .. Seab A Lrf4s'59.. 41 Seab AL4sstct’50. 5 Seab A L adj 5s'49. 1 Seab A L 63 A '45..103 Serbs-Cr-S17s'62.. 1 Serbs-Cr-S18s'62. Shell U Oil 55 °47.. Shell U O 63 '49ww. Silesia Prov 7s '58. Sinc Oil 6%s B '38. Sinc Ol T8 A '37... Sinc P L 68’43 Skelly Ol 5%3°39. Sou Bell T&T 65541 Sou Pac col 4s"49.. Sou Pac rf 48 '56 Sou Pac 4%s "I Sou P 4%s 69 ww. 8 10 Sou Ry 6%8'66.... SW Bell T 53 A '54. St O1l N J 684 StOIINY 4%s Studebaker 65 '43 Swiss %8s "4 ‘Tenn M1 P 68 A '47 Ter As St L 4s'53.. Ter As St L 584 Tex & Ark 5%s'50. Tex Corp cv 55 °44.. Tex & Pac 5s B'77. Tex & P 58 C'T' Third Av rf 4s Third Av adj 65'60. Tob P NJ 6%s 2022 Toklo El Lt 6 . 5 Union El L&P 58'57 UE&P StL 1st 55'32 Un Pac 1st 4847 Un Pac 45 68. Un Pac rf 45 2008.. Un Pac 4%s8 "67. Un P 1st rf 53 2008 United Drug 5s "53. U S Rubber 5s°'47.. 59 ww. Utll Pow 5%s "47.. Vanadium St 6841, Vienna 6s ‘52 . Va El&Pwr 548’42 Va Ry 1st 65 A "62. Va Ry & Pw bs'34. Va SW 1st cn 58°58. Wabash 4%8°78... Wabash 1st 65 '39.. Wabash 6s B'76... Wabash 5s D '80... Walworth 6s A "45. Warn Br Pic 6s°39. Warn Quin 6s "39.., Warren Bros West Md 5%s'71.. ‘West Pac 5s A "4 West Uncl tr 5538 West Union 6s '51.. 0.. West Un 6%4s°36.., Westphalia 6s'53. . Wh&LEcn4s'49. Wh Sew Mch 65'40. Wil-O 1st 6%s '33. Wil & Co 1st §s°41 ‘Wis Cent Tm 4536, Yokohama 6s ‘61 Ygstn S&T bs A'78. Ygstn S&T 68 B'70 SEABOARD PAYMENT OF $1,365,000 IS DUE Court Order to Meet Preferred Claims Against Railway Ex- pected Soon at Norfolk. By the Associated Press. NORFOLK, Va., June 20—Receivers of the Seaboard Air Line Railway have $1,365,000 ready for distribution on preferred claims against the railway and an order is expected in the United States District Court here soon, order- ing the distribution, it was learned yesterday. Trustces on certain bond issues against the railway's properties will have “to consent to the order before the money can be distributed. “The receivers expect these matters to be smoothed out within the next few days, they said. Markets at a Glance By the Associated Press. NEW YORK, June 20.—Stocks irreg- ular; early rise meets profit-taking. Bonds firm; utilities and rails advance. Curb irregular; realizing checks ad- vance. Foreign exchanges strong; ster- ling at new high. Cotton easier; local and Southern selling; favorable weather. Sugar steady; commission house buying. Coffee lower; trade selling. CHICAGO—Wheat lower; heat wave broken. Corn easy: sympathy with wheat. Cattle, steady to strong. Hogs, steady to 10 higher; top, $4.70. RESERVE MEMBERS SHOW By the Associated Press. Investments of reporting member banks in securities other than those of jthe United States Government showed a slight increase during the week ended June 14 as the change was cal- cuiated by the Reserve Board. In the table that follows the total is given for comparable periods as announced by the board: Week ended June 14 Previous week...... Same week last year $2,972,000,000 2,961,000,000 2,970,000,000 &4 /0ld Theory That INCREASED INVESTMENTS | IBANK ACT CITED AS BONDS CLIMB Inflation Weakens Demand for Issues Upset. BY DR. MAX WINKLER. Special Dispatch to The Star. | NEW YORK, June 20.—While the | pronounced advance in common stocks | | is rightly attributed to Congress grant- | |ing the administration inflationary | powers, many have found it difficult| to account for the continued strength in bonds, especially those of the better class_category. Ordinarily, inflation, actual or threat- | ened, tends to depress the market for | fixed income-bearing securities. This | theory has been upset somewhat by | the recent action of the American | markets, which were characterized, mot only by gains in common shares, | but also by impressive advances in pre- i ferred stocks and bonds. The reasons are obvious: Under the banking act of 1933, pop- ularly known as the Glass-Steagall bill, just signed by President Roosevelt, financial institutions which are mem- bers of the Federal Reserve system will merely act as depositories for public funds. Under the provisions of the law, no interest is permitted on de- mand deposits. The question may well be raised what particular advantages will accrue to the individual whose business transactions are of no spe- | cial import in keeping funds with an enterprise which may utilize such de- posits as it sees fit without compen- | sating him for their use: Might it not be desirable to convert such funds into United States Govern- ment securities, some of which are still returning better than 3 per cent. That this policy probably is prefera- ble to any other, from the standpolnt‘ of the conservative depositor, is evident from the recently adopted govern- mental measure to buy United States issues up to $25,000,000 & week, and to instruct the postal savings banks to employ up to $100,000,000 for the same purpose. In other words, the open market policy of the Government will prevent fluctuation in governmental securities. (Copyright, 1933, by North American News- paper Alliance. Inc.) Baltimore Markets ‘Special Dispatch to The Star. BALTIMORE, Md., June 20.—White potatoes, per 100 pounds, 90a1.50; new, barrel, 1.50a3.25; - sweet potatoes, ; yams, bushel, 65a90 beans, bushel, 50a1.25; aspal , dozen | bunches, 1.00a2.50; beets, 100 bunches, 2.0083.00; cabbage, hamper, 50a85; carrots, bushel, 1.00a2.25; caulifiower, crate, 1.25a1.50; celery, crate, 3.50a5.00; corn, crate, 75a1.25; cucumbers, bushel, 50a1.25; eggplants, crate, 1.25a2.00; lettuce, bushel, 20a40; lima beans, bushel, 2.50a3.50; onions, per 50-pound sack, 1.50a1.65; spinach, bushel, 40a 75; peas, bushel, 50a150; bushel, 75a1.50; tomatoes, lug, 1.25a2.00; squash, bushel, 50a1.50; apples, bushel, 35a1.50; strawberries, crate, 1.00a3.00; grapefruit, box, 1.75a2.00; oranges, bo: 3.0003.50; blackberries, crate, 2.0022.50; peaches, bushel, 2.00a4.50. Dairy Markets. Chickens—live poultry, young chick- ens, 15a32; Leghorns, 14al7; old hens, 10a13; Leghorns, 10; old roosters, 6a8; ducks, 7al4; pigeons, pair, 10a15. Eggs—Receipts, 132 cases; current receipts, 12; nearby firsts, 14. Butter—Good to fancy creamery, pound, 20a24; ladles, 16al7; store packed, 13al4. Hay and Grain. ‘Wheat—No. 2 red Winter, garlicky, spot, domestic, T8%; June, 78}%; July delivery,"'l:%. Corn—No. 2 vellow, domestic, spot, 61a62; cob corn, 2.75a3.00 per barrel. Oats—No. 2 white, 42a45; No. 3, 41a42. Rye—Nearby, 65a70. Hay—Receipts, none. While the mar- ket continued generally qulet, a fair demand prevails for good timothy, of which there is no surplus on the mar- ket. Prices range from 11.00 to 15.00 per ton, as to grade and kind, with market irregular on anything below No. 3 timothy. Poorer grades of hay hatd to move at any price. Livestock Market. Cattle—75 head; market steady; bulls, good to choice, 3.25a3.50; medium to good, 3.00a3.25; fair to medium, 2.75a 3.00; plain to fair, 2.5022.75; common to plain, 2.25a2.50; steers, good to choice, 5.7526.00; medium to good, 2.25 a2.75; falr to medium, 4.75a5.25; plain to fair, 4.25a4.85; common to plain, 2.50a2.75; cows, good to choice, 3.25a 3.50; medium to good, 2.75a3.25; fair to medium, 2.2582.75; plain to fair, 2.00a lain, 1.25a2.00; heif- 5.00a5.25; medium to good, 4.50a5.00; fair to medium, 3.75 24.50; plain to fair, 3.25a3.75; common to plain, 2.75a3.25. Fresh cows and Springers, 30.00260.00. Calves, 50 head; market steady; good to choice, 5.00a 5.50; common to medium, 3.00a4.50. sheep. 50a2.50; lambs, good to choice, 7.50a8.00; common to medium, 5.00a 6 .50. Hogs—600 head; steady; lights, 4.50 a4.90: medium to good, 4.85a5.2! heavies, 4.75a5.20: roughs, light pigs, 3.25a3.75; pigs, Western hogs, 10-20 higher. Chicago Grain By the Associated Press. CHICAGO, June 20.— Aggressive profit-taking sales turned all grains downward late today, with traders in- fluenced by indications that the heat wave northwest had been broken. More than 1% cents a bushel was clipped from the day’s top figures for | wheat. Numerous crop damage reports from American and Canadian Spring wheat territory were ignored in the late dealings. |~ Wheat closed unsettled Spa1% under | vesterday's finish, corn Spal’s down, | oats unchanged to 1 lower, and pro- | visions varying from 20 cents decline to a rise of 30 cents. _Cslgst’ | December CORN— July £ September December July . September December RYE— July . & September December Exchange Seat Price Drops. NEW YORK, June 20 (#).—A New York Stock Exchange membership sold today for $230,000, a decrease of $20,000 JUNE 160 per cent ahead of preceding three | 20, 1933. FINANCIAL. NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. d Dividend Rate. ‘Warren Found & P. ‘Webster Eisenlohr. . Wells Fargo....... Wesson O & Sn (50¢) ‘Wesson O&Sn pf (4). West PaElecA (7).. West Pa Elec pf (6). West Pa Elec pf (7). ‘West Pa Pwr pf (6).. West Pa Pwr pf (7). Western Dairy pf A.. Western Dairy pf B.. Western Maryland. Western Md 2d pf, Western Pacific Western Pacific pf. Western Unlon. . Westing'se Air B(1). Westinglouse Klee. . Weston Elec Instru.., ‘Westvaco Ch] (40¢) eeling Steel. White Motor. White Rock M S (2).x White Sewing Mach. White Sew Mch pf. ‘Wilcox Oil & Gau 80s pt} 1 908 608 3008 1008 108 T 10 54 . 1933~ Stoc! Loy Wilcox Ri 7 Wilson & 4 19 25% Woolwor 15 'k and Dividend Rate. ich A (2%) x Co. th (2.40). 8 Worthington Pump. . 14 Worth’'n Pump pf A.. 34% Wrigley (Wm) (3) Yale & Towne (60c). 4 Y Tr 8 Yellow Truck pf. ¥ Righ 2 AmCom Al i Motor Metes 3'4 Young Spr & Wir: 7' Youngstown Sh&Tre. 13 Zenith Radio. 3% Zonite Produ 31% 2 (1Y its. July 5 139 July 10 2% 132 % Sales of Stocks on New York Exchange 11:00 AM. e .3, Dividend rates as payments based on the stock. e Payable in 900,000 12:00 Noon. 820,000 2:00 P.M.. 1n _the above table are the sun: stven | latest quarterly o haif-yearly decl 4% In stock. s Paid sUnit of trading 1:::. than 100 3 e casn tions. b Payable in A i or_stock. in specia) preferred stock. g Payable in sci CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS, NEW YORK, June 20.—Following is | today’s summary of Corporation News prepared by Standard Statistics Co., Inc., New York, for the Assoclated | Press. | Hudson Motor Car Co.—June sales of | Hudson-Essex cars running ahead of | May, 1933, with the last three weeks | weeks. Bendix Aviation Corporation—Net | profit of company in April and May are sald to be sufficient to offset net loss | of $267,463 incurred in first quarter; cash. etc., are expected to be around | $4,000,000 by end of June. Pittsburgh Plate Glass Co.—Company to meet mark-up in pain prices. Arundel Corporation—Common share earnings, five months ended May 31, 35 cents, vs. $1.23. Baltimore & Ohio Rail Road deficit four months ended April 30, $4,496,010 vs. deficit $3,639,256. Pennsylvania Rail Road deficit four months ended April 30, $1,868,381 vs. net income $4,431,558. Chesapeake & Ohio Railway common | share earnings five months ended May | 31, $1.04 vs. $1.01. CHICAGO STOCK MARKET CHICAGO, June 20 (#)—Following is the complete official list of transactions in stocks on the Chicago Stock Ex: change today: Sales. STOCKS. 400 Adams Ro High. Loy 3 23 3 % . Close. 9 Gae SokkeackiaGal wie 3% 1878 13% (e 9 FFEFS T 1o e ke s e EEEREE e Sl E e Beeld whlns & Wk e ¥ - & ESEEIES 200 Ina Pneu_To 10y Jeterson Eiec Core 50 Marsh Field 350 McGraw Eiec 200 McWill Dredg. 1400 Mickeierry's Fd 1450 Mid West Util 200 Mid W Ut 6% ath ... )0 Nat Union Radio. . 0 Nobliti-Sparks . 0 Nor, Am Car D 150 Pub Bvc $100 b 200 Public 8¢ n p. 20 Pub_Sve_ 6! 100 Railroad Sh ... 750 Raytheon vic . 800 Rellance Mig ) Seaboard Ut . 3100 Sears Roeb 150 Sid Dreds . 100 Std Dredg bi 1450 Studebkr Mail "A’ 100 Storkline Furn ‘pf 1950 Studebaker Mail 6100 Super Maid . 7800 Swift & Co co . 2450 Walgreen 20 Walgreen i’ xd. 40 Waukesha Mot . 450 Wayne Pump .01l 2 300 Wieboldt Stores "’ 4 200 Wolverine Port Cmt 14 350 Zenith Rad e 40 Yates Mach 1% Stock sales—171.000 shares. ONDS. 1000 Chic Ry 5s 6000 L 81 St B Bond sales— 0il Output Declines. TULSA, Okla., June 20 (#).—Okla- homa and Texas decreases brought crude oil production of the United States down 63,806 barrels average last week, from 2,796,673 to 2,732,867 bar- rels daily, the Ol and Gas Journal reports. Market Averages By the Assnl‘ll'fd Press. STOCKS. 50 20 20 90 Indus. Rails. Util. Total Today. close.” R0.6 44.8108.0 835 Previous day. Week ago. . Month ago CHICAGO LIVE STOCK. CHICAGO, June 20 (#) (United States Department of Agriculture) — | Hogs, 25,000 including 13,000 direct; active, mostly 10 higher than yesterday; bulk desirable weights, 4.60a4.70; top, 4.70; 300-400 pounds, 4.35a4.60; 140-180 pounds, 3.60a4.60: pigs, 3.00a3.50; pack- ing sows, 3.80a4.10; light light, good and choice, 140-160 pounds, 3.60a4.40; light weight, 160-200 pounds, 4.00a4.70; me- dium weight, 200-250 pounds, 4.60a4.70; heavy weight, 250-350 pounds, 4.45a 4.70; packing sows, medium and good, 275a550 pounds, 3.60a4.30: pigs, good and choice, 100-130 pounds, 3.00a3.65. Cattle, 6,000; calves, 3,000: strictly good and choice fed steers and yearl- ings scarce; strong to shade higher; | some strength apparent on medium grade light offerings, also on desir- able medium weight and weighty steers; common grass kinds slow; very few steers in run of value to sell above 6.00; early top medium weights, 6.60; mostly 5.25a6.00; trade with grassy kmdks :5131.3 dlown to 3.00; she stock weak; bulls slow; steady; vealers about steady at 4.50a5.50. Slaughter cattle and vealers, steers, good and choice, 550-900 pounds, 5.25a 7.25; 900-1,100 pounds, 5.25a7:25; 1,100-1,300 pounds, 5.50-7.25; 1,300~ 1,500 pounds, 5.25a6.75; common and medium, 550-1,300 pounds, 3.50a5.50; heifers, good and choice, 550-750 pounds, 4.75a5.75; common and medium, 3.00a4.75; cows, good, 3.25a4.00; com- mon and medium, 2.50a3.25; low cutter and cutter, 1.75a2.75; bulls (yearlings excluded), good (beef), 3.00a3.50; cut- ter, common and medium, 2.50a3.40; vealers, good and choice, 4.50a5.50; medium, 4.00a4.50; cull and common, 2.50a4.00; stocker and feeder cattle, steers, good and choice, 500-1,050 pounds, 4.75a6.25; common and me- dhg}l:. 3.7%‘046"7]5. A eep, 5,000 head; meager supply, all classes :tomllgg to mg’e Mgner;ppcholc: lambs, 10-15 up; earl :fi 17.75, paid by city butcher; bulk ble native ewe and wether lambs, 7.00a7.25 to slaughter sheep and lambs, 90 pounds, down, good and choice, 1.75a3.00; all weights, common and medium, 1.25a2.25. By the Assoclated Press. NEW YORK, June 20.—Further ad- vances of 11 to 12 points in cotton early today were followed by reactions under realizing. Offerings increased following & sag in the stock market, with October eas- 9.12-9.13; October, 9.38-9.39; December, 9.54; January, 9.61; March, 9.77; May, 9.92°9.93. Spot quiet, middling, 9.25. CHICAGO POTATO MARKET. CHICAGO, June 20 () (United States Department of Agriculture) —Potatoes, 75, on track 215, total United States shipments, 468; new stock, strong, trad- ing good, supplies moderate; North Carolina barrel cobblers, U. §. No. 1, 3.75; Oklahoma, Arkansas and Louis- iana Triumphs, U. S. No. 1, 2.25a2.35; few 2.00a2.15; old stock, firm, demand limited, supplies moderate; Wisconsin round whites and Michigan Russet Rurals, 1.35a occasional best highe: | toms, 11! Washington Produce ‘WHOLESALE PRICES. Butter—One-pound prints (93 score), 25; tub, 24; one-pound prints (92 score), 24; tub, 23; one-pound prints (90 score), 23; tub, 22. gs—Government graded, ext: 21; standards, 18; mediums, url:;' current receipts, 10al1; hennery whites, 12a13. Poultry, alive—Turkeys, hens, 10; toms, 8; chickens, Plymouth Rocks, 19]‘2&:d I.ieosh’r;m.'i.‘! !l:llfl; hens, mixed colored, 10all; Leghorns, 8a9; 25a28; roosters, 5a7. T Poultry, c‘l&e;:d—’ng]key:, hens, 13; ens, Plymouth Rocks, 22a23; Leghorns, 17al19; hens, mixed colored, 13a14; Leghorns, 11a12; capone Long 28a31; roosters, 8al0; ducks, 15. Meats—Beef, 11; veal, 9a9!2; lamb, Spring, 16; Fall, 15; pork loins, 14; fresh hams, 14; smoked hams, 15%; strip bacon, 16; lard, 8a8l; com- v s light, 4 ogs, .0084.70; medium, 4.25a4.75; heavy, 4.2584.70: pigs, 3.00a3.75; , 1.5083.00; :‘olgfl. 3.0024.00; Spring lambs, 5.00a Pruits—Watermelons, 35a75; canta- loupes, jumbos, 4.50; standards, 4.00; Georgia, bushels, 2.00; cherries, eight- pound boxes, 1.75; 12 pounds, 2.00; 15 pounds, 2.25; plums, 2.75; apricots, 2.50; apples, box 1.5022.00; nearby, bushel, 1.25a1.50; oranges, 2.50a3. 6.00a7.00; . raspl 5.50a8.00; huckleberries, 4.0086.00; rhu- barb, dozen bunches, 35a40. Ve%eublu—l’vhwu. new, per barrel, 3.00a3.25; old, 100-pound sacks, 1.65; Idaho bakers, 2.25a2.50; sweets, 60a75; ST. LOUIS GAS & COKE RECEIVER IS APPOINTED | i gel e bill of complaint stated the the Southern District Illinois recently appointed George B. Evans as a receiver for the corporation. = BALTIMORE STOCKS. Bpecial Dispatch to The Star. BALTIMORE, June 20— Sales. STOCKS. 455 Arundel Corporation 1845 Black & Decker com, 3 g Prrmet o E s d FEFR R BONDS. $8.000 United Rwy & Elec 1st 4 4,000 United Ry & Elec income - e LAIDLAW & CO. Member N. Y. 727-1 Stock Exchange 5th St. TELEPHONE Dlstrict 2255 PROPERTY Apartment House MANAGEMENT: MANAGEMENT OU will find the experience of our Property Manage- ment Department very valuable to you in the management of your apartment house proper- ties—valuable in the relief you will have from all worry—and profitable in the increase in net return. The fee for this service is very nominal. B. F. SAUL CO. 925 15th St. N.W. NA¢'l 2100 Ross, Inc.. 633, ... Denmark 6s ‘42 e Club s Golumb; D. C. Paper Mig ¢ W, 3. Cold St Wash. Cona Title 05...... . STOCKS. PUBLIC UTILITY. Philippine R 45 from the previous transaction. Phillip Pet 5%s 39 Pillsh F M 65’43 StL 415 C17 METAL MARKET. NEW YORK, June 20 (#).—Copper | | quiet, electrolytic spot and future, 8. Tin, strong; spot and nearby, 45.62; futures, 45.87. Iron, steady; unchanged. Lead, steady; spot, New York, 4.20; East St. Louls, 4.05. Zinc, firm; East St. Louis, spot and future, 4.35. mony, spot, 17.00. @ Barver & Chevy Ch CHICAGO DAIRY MARKET. CHICAGO, June 20 ().—Butter, 18- 664; firm; creamery, special (93 score), 23a231,; extras (92), 224; extra firsts (90-91), 2115a22; firsts (88-89), 19% 20%; seconds (86-87), 17al8;; stand- ards (90 centralized carlots), 22%:. Egegs, 15,305, firm; extra firsts, 12%; fresh graded firsts, 12Y;; current re- ceipts, 10%; storage packed firsts, 13; | storage packed extras, 13%. Poultry—Live, 60 trucks, hens, 9'3a10%z; Leghorns, 8: 81%; No. 2, 6; turkeys, 10all gucks,hsau‘ om.l ls;s; geese, 6 orn broilers, 11al3'3; rocl colored, 15a16. 4 = D&RG W 5s'78.. Det Ed 4%s D 61.. Det Edison rf 55'49 Det Edison 55°62.. B0 100t 10015 91% 104 103% 108%, 1041 BONDS. 20 Indu Poland 6s'40. Poland 78 °47. Poland 8s '50. Porto Alegre 8s’ Port Gn El 4% Por RAm T 6 Dodge Bros 6 20 Duquesned % sA’67. Duquesned % sB'57. 53 Nov. . Dutch East I 6s'62. East C Sug 7}4s'37 Briecv4s A 53.... Erie ¢s B'53. Erte gen 43’9 Erie ref 5s°¢7. Erie ret 5 5 7 1‘7 ;hv? Steambost 2 Pot. Elec. Power 6 e MONEY MARKET. NEW YORK, June 20 (®).—Call 1 per cent all day. Time | 60-90 days, 1; four| months, 1ally; five-six months, 134 per | ¢ paper, 1. unchan, 7 14 16 11 Wash. Rwy. & Wash. Rwy. & MISCELLANEOU! 2 Prussia 6% 51 5 Public Serv 4s ‘Tl 6215 Pub Sv G 4%s 67 51% PubSvG4%s 70 51 PureOll5%s'37. unsettled; roosters, | Spring Le 101% 82% MORTGAGE LOANS 0) ent. 4. (7). .. Prime commerc: bBooks Bankers' accep! 1054 closed.