Evening Star Newspaper, July 30, 1933, Page 57

THE SUNDAY STAR, WASHINGTON, D. C, JULY 30, 1933—PART BOND SUMMARY FOR THE WEEK UNITED STATES GOVERNMENT. ~-1933— A ¥ High. Low. Closs. Onge. Low. X . Int Tel & Teleg ou: 39.. - —1 ‘52 High. Low. High. 933— Stock and Sales— 10320 9930 Lib3%s1932-47.....10226 10221 Int Tel & Tel 4% | High. - Low. DividendRate. Add 00. High. Low. Close.Chge | 36% 7% V: 536 +3% 76 16 12% 15 10 ' 10231 9928 Lib 1st 45 1932-47 10126 10131 +.7 Int ‘Tel & Tel 55’55 6_) 22% 5 Thatcher Mfz Co. 6 +3% 1 0 10330 100 12 Lib 4th 4% s 1933-3! 10227 10229 —.1 Irish Free Em. 58 4 " 94 44 29 Thatcher Mfg pf 3. +1% 1 “ . Soe” 3 :?‘ ve Preceding Week | | ] 998 9316 U S 3a1951-66 9824 99 Italy 78 61, .. 124 : e Chea ) Close Above P! g 10016 ;984 48, 1005, 10013 +.1 Italy P U Credit 78 '532. 10% y +1% 34 Va-Car Chem 6% of. o and Near High Point . 10229 98 Er T TG Japan 538 °6 12% 4% Third Avenue. Y +1% 35% Va-Car Chem 7% pf. A for Two Years. FINANCIAL. SIX. FINANCIAL.’ 3 I[NEW YORK STOCK MARKET| ——1933— High. Net 24% . 1 —3% Committee Head PERLEY TO HELP ARRANGE FOR BANK CONVENTION. (Continued from page2.) 5 1027 10210 —5 Taptasieeics s 10 Third Natl Inv h8sc. E -1 65% Va Elec&Pw pf (6).. ‘ - 10227 974 K.‘;‘c“ s;:m S 6% Thompson (J R) (1). +1% 2% Va Iron Coal & Coke. 10420 104 20 & A 5% Thompson Products. +2 12% Vulean Detinning. .. 10714 9931 1063 1065 —.d <an Citv South 55 '50 1 Thompeon Starrett. . ; +1%% 57 Vulean Detin pf (7). 1114 10314 1104 10927 10927 —4 Kan City Term 1st 43 °60. 3% Tide Water Asso Oll. 8 Pl Kan Gas & Elec 414580, . 2314 Tide Water Asso pf. : g 1% Wabash RR B Tom. Close! /e, Kendall 5% 48 ww..... ¢ 4 T Wabash ot (A). 28 : . 45 Tide Wat Oil pf (5).. 315 1% 4 26% 26% 2% Lack Stl 1st 5550 1% Timken-Detroit ;xl. 6 +1% Wabash pf (B). 10212 10212 ~. 10517 9814 M0zan =0 BY BYRON SELLER. Bpecial Dizpatch to The Star. NEW YORK, July 29.—The invest-| ment market attracted a fair amount| of attention this weck, considering "hci shortened ses~ions. Bonds flmsheyd1 above their close of the preceding week | and just slightly under their level of a fortnight ago, which was the highest oint in two years. | & June rail earning statements helped | sneculative rails more than gilt-edged | ails. Income reports also aided indus- trials. Public utilities lagged because | o disappointing profits when viewed in terms of recent power output gains. The virtual absence of new bond issues is one explanation for the quick recovery of outstanding couponed securi- | ties from the effects of the stock mar- | ket crash the preceding week. This| paucity of new bonds results from mar- | ket conditions and the Rayburn-Fletch- er securities bill, which, though signed b~ President Roosevelt May 27. did not become fully effective until July 27 Between these two da more _than $10,000.000 of new stock was offered, but less than $10.000,000 of new bonds. “This wide gap between bond and stock financing, in view of the fact that most astual financing of industry is dene by | bonds, is somewhat superficial. The | stock offerings were speculative and | were centered around the brewing and distilling trades. On the other hand, the few bonrs offered were of high grade and represented established en- | terprises. ‘ The small total of new bonds also does | rot include all of the new issues, judged by former investment banking stand- ards. marketed within that period. ‘Horetofore when a railroad met a ma- turity by offering another bond, the cperation was referred to as a refund- inz, but the issue that replaced the old b-nd was considered new. T the St. Paul, Minneapclis & Manitoba Railway plan, wherebv hol ers of $40,425.000 of consolicated mort- gages due July 1, 1933, exchanged their holdings for bonds maturing July 1, 1943—interest and principal again as- sumed by Great Northern Railway. was a refunding operation. Being an exchange offer, it did not come under the new securities act. The exchange-extension offers made by Baldwin Locomotive and American Rolling Mills to holders of maturing bonds similarly do not come under the raticn requirements of the securi- Tre Arst new bond issu> to ccmvl viir all requirsments of the cecuritics was_the 53.600.000 Tt bank debts and reimbursing usy for capital exvenditure: One of the subsidiaries of New Eng- land Power Association, controlled by | International Hydro-Electric System, which in turn is controlled by Interna- ticnal Paper & Power, offered $2.000.000 | of ‘three-year 4!, per cent notes, pro- ts treas- FRANK M. PEELEY, | Who was appointed yesterday by T. Hunton Leith as chairman oi the En- tertainment Committee in connection with the national convention of the American Institute of Banking, to be held in the Capital. He is a past pres- ident of Washington Chapter, was cheirman of last year's Banquet Com- | mittee ard is connected with the Amer- | ican Security & Trust Co. —Brooks Photo. | CODE CONSIDERED | FOR WALL STREET Association of Stock Exchange Firms in Touch With N. R. A, About Hours and Wages. By the Associated Press NEW YORK. July 20—With the New York Stock Exchange closed to- | day for the first of a consecutive run of ‘Saturdayv suspensions which will ex- tend into September. brokers had more | time for ccnsideration of the possi- ! bilty of a code for Wall Street em- | s under the national industrial re- covery act. | The Association of Stock Exchange Firms, through its counsel, brokers were | informed, has been in touch with the recovery administration authorities. The matier of establishing maximum | hours for clerical workers has received | particular attention, it was said, in view | of the long hours which most stock | exchange firms found it necessary to s2 employes because of the huge vol- | of business during the past few | The specigl Saturday holidays horten=d" trading period of i were decreed by the ex- change to eace this burden. General opinion 2mong stock brokers 1s that steps will be taken soon to es- m salaries end a maxi- mum work week for Wall Street | employes. aoE NEW YORK PRODUCE. NEW YORK, July 29 (C. P. A) Quotations for eggs in the wholesale cash market today were: 5 Alleghany Co Alleghany 63 49 Alleg hany 55 '50 i Am Beet Sugar cv 68 °35.. Am & For Pow 65 2030. Am 1 G Chem 5%3 49 Am Internation 5%s 4 Am Sm & Ref 55 '47. Am Sugar Ref 65'37 Am Tel & Teleg 4% Am Tel & Tel el tr b Am Tel & Tel deb 65 4 Am Tel & Tel 58 6 Am Tel & Tel 5%s 43 Am WIW & E col tr 55 '34. Am Writ Pap 68 ‘47 Antiquia 7s A 45. 4 Argentine 5s ‘45 Argentine 5% ‘62 Argentine 63 A ‘57 Argentine 6s'59 June. ... Armour & Co 4%s '39. 4 Armour of Del $%45 43 Atch T & S F gen 48'95... Atci T&SFe4%s'43.... Atlantic C L Ist Atl Coast Line 43 Atlantic Ref deb 6537, Australia 4%8 '56. Australia 55 °55. Australia 58 57, Austrian 7543 B&O Ist4s 48, B&O4%s'33. 4 Balto & Ohlo 4%s B&O 1st 58 '48. &Oref 58 A°95. & O ref 5s D 2000. £065C'95...... &OP L E&W Va 4s'dl. B&OS W Div 53’50 Bangor & Aroos ¢3 51 Batavia Petroleum 443 Belgium €s'55 Belgium 6%s Belgtum 7s '55. Belgium 78 '56. Bell Tell (Pa) 55 B ‘48 Bell Tell of Pa 55 C '60. 5t2 Berlin City Elec 6% 851, Berlin City Elec 6%859.. Berlin mun ext 618 '60... Beth Steel p m 55 '36 Beth Steel rf 55'42... Bolivia 7 Bolivia 8s Bordeaux 6834, Boston & Maine 58 Brazil 6%8 1926-57. Brazil Cent Ry T Brazil 85 41.... Bremen State 78 '35. B “« B B B A Brooklyn Un Gas is '50 Budapest 65 '62. ... Buenos Aires prov 6s ‘61. Calif Pucking Canada 4s ‘60 Canada s ‘52 Canada National Canada Natl 5569 July Canada Natl 55’69 Oct. 4 Canad North deb 6%s '46. Ca Northn deb 7s'40.. 94y 94y — 64 -8 74 Laclede 5%s D ‘60 Leh‘gh Val cn 45 2003 Liggett & NMvers 68 '51... Loew's 6s 1941, Lorrillard (P) 5i Lorrillard (P) 7 . Louisiana & Ar'c 5s'69. 4 Loulsville G & E bs A '52. 3 Louls & Nash uni 4s°40.. Lyons 6s'34.... cee 4 McKesson & Rob 6% '50. Man Ry N Y cn 4s°90. Market St Ry 7s A "40 % Marseilles 6s'34. Mexico 4s asst 1904-54. .. Midvale St & O 583 Milan 61852, Mil El R&L 1s M1l El R&L gn ref s '71.. MoKan&TSsA Mo Pacific gen 4s '75. Mo Pacific rf 5s A "65 Mo Pacific 5s F'77. Mo Pacific 5s 181 Mo Pacific 5%s A Montana Power §s ‘43 assau Flec cn gtd 4s ‘51, at Dairy Prod 5%s "48. . ‘ew England T 1st 58 "5%. New Jer P&L 41%4s°'60.... New South Wales 55’57, 6s'58.% 4 34..c0ues 5 NYCntrf43%s2013 new. N Y Centrf552013...... N Y Cent deb 6s'35. NYChi&StL 4%s ; N Y Chi&StL rf 5%5 A'T4 N Y Edison 55 B 44.. N Y Edison rt 63 NY N H&¥Hart 4%s 67, NYNH&HecIt6s'40.... NYNH&HS6 N Y Rys Inc 6s '65. Y Tel zen 434539, Y W & Bos gen 4345 4§ Nlag Share Md 5145 '50 Nord Railways 6%s ‘50. .. N'folk & W 15t con 48 °96. Norf & W div 4s 44 B orth Am 55 '61 orth Am Ed 5s North Ger Lloyd 6s * Nor Ohlo Trac & Lt North Pacific 35 2047. North Pacific 45'97...... North Pacific 4345 2047. .. % North Pacific 58 D 2047... orth Pacific 6s 2047 orth St Pwr 1st 58 s or St Pwr 1st 63 B 1941. Norway 53565 . Ore Wash RR & N 45 '61. Otis Steel 1st 55 A "41.... Orfent Dev 535 '58. Orfent 6s33. . Pacific Gas & El 5s Pacific T & T 1st 5s Pacific Tel&Tel rf 58 °52. Para-Fam-Lasky 6s 47 Paramount Pub §%s'50. . Paris Orleans 5%s'68.... 5 Penna en 413 '60. Penna gen 4145 '65. Penna RR 4%s D '70. 1074 9% 105 116 52 105 97Y% 130 60% 391, T0% 130'¢ 6 99w 87 82% 834 87% 59% 82 19% 391 3814 38% 384 3814 17% 93 57 95% 107% 113% 74 94 9714 6 10474 55% 691 1261, 991, 101% 82 80 4% 1007 61 89 76 82 9015 102 105% 9214 89 41 6514 69 . 10513 106% 2., 107, 31y 30 114 1041 9415 831 105 17 104% 114% 148 551 381 0% 128% 5% 97 84% 81 81% 87 57% 8% 17 36% 36 37 37 35% ¢ 14 8915 5514 94% 1068 112 13 92 937 5 1044 54 68 119% 9815 101 80 ™ 401 99 59 878 ki 79 88 101 105 9a 87 40 851 6712 105 105% 106 26 2515 114 102 92% 81 18% Timken Bearing 60c. 2% Transamerica Corp. . 2% Transue & Wiiliams 2% Tri-Contl Corp. ..... 41 Tri-Contl Corp pf(6) 20% Trico Products(214). 14 Truax Traer Coal... 2 Truscon Steel....... 1% Twin City Rap Tran. 5% Twin City Rap Tr pf. Ulen & Co. ... 3 nd-Ell-Fisher(50¢). Und-Ell-Fish pf (7). 3 Union Bag & Paper. 4 Union Carb & C (1). n Oil of Calif (1).. Union Pacific (6).... Union Pacific pf (4). Unlon Tank Car 1.20. Unit Afreraft. see Unit Aircraft pf (3). TUnit Am Bosch. United Biscuit (1. United Carbon (1)... Unit Corp (40c) Unit Corp pf (3) Unit Dyewood. . Unit Electric Coal Unit Fruit (2)...... Unit Gas&Im (1.20). Unit Gas&Im pf (5) Unit Plece Dye Wks.. U S Distributing. U S Express. . U S & Forn Secur. U S Freight. . U S Gypsum (1) J 8 Gypsum pf (7). U S Hoffman T Us us % US Leather. . U 8 Leather (A) U S Pipe&Fdy (50¢). S P(F 1st pf 1.20.. S Realty & Imp. .. S Rubber.... T U U U S Rubber 1st pf. .. 3 USSmtg & Ref (1).. 5 US Smtg&Ref pf 3% U S Steel. . US Steel pf (2). U S Tobacco (4.40). United Stores (A) Unit Stores pf (314). Univ Leaf Tob (13). Univ Plctures 1st pf. Uniy Pipe & Rad. Utah Copper. .. Util Pwr & Lt (A i) 5% Waldorf Systes ; i % + % 2 B i +1% + 4% U + % Warner Warren Warren Warren 75 Walgreen pf (6%)... % Walworth Co. Ward Baking Ward Baking (B) Ward Baking pf (1). Warn Bros Pictures. Quinlan. .. Bros. .. Broscv pf.. Found & P. .. + % Webster Eisenlohr. ‘Wesson Weston 26%+10% 45'3 45 119% + % 9% + Y 5612+10 Wells Fargo. - Wesson O & S 0c) O11&S pt (4) West Pa Elec A (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 Unfon. . Westing'se Alr B(1). Westinghouse Elec. . Westinghse 1st (3%4) Elec Instru. Westvaco Chl (40c). Wheeling Steel 3 5 Wheeling Steel % White Rock M S (2). White Sewing Mach. Wilcox Oil & Gas Wilson & Co. ... Wilson & Co (A). Wilson & Co pf. . ‘Woolworth (2.40). 12% K Worthington Pump.. 18% Wor.h'n Pump pf A. . 15% Worth’n Pump pf B.. Wright Aeronautical 6 3415 Wrigley (Wm) (3).. 7 Yale & Towne (60c). 214 Yellow Truck. . 313 Young Spr & Wire. .. 715 Youngstown Sh& T. 13 Zenith Rad! 4 3% Zonite Prod 159 Rights. 13 Fox Film(A).Aug 14. 157 -5 | Dividend rates as given in the above table are the annual + 1 | payments based cn the Istest quarterly or half-yearly declarations. s Unit of trading less than 100 chares. tPartly extra. iPlus b Paysble in 'THREE ARE ADDED :Fint National Stockholders at Mount Airy Name Warfield, King and Burdette. Special Dispatch to The Star. MOUNT AIRY, Md, July 29—H. T0 BANK BOARD Milk Supply Cut By. Drought and Live Stock Prices i | NEW YORK. July 29.—A sur- of the dairy industry by Dun & Bradstreet says that drought conditions in many producing centers and a decrease in the size of herds due to better live stock prices have lowered the milk sup- ply for the seven months of the 'BALTIMORE PHONE PROFITS STILL LAG ' iDecrense of $7,569 From Net In- come for June Last Year Bared by Monthly Report. BALTIMORE. July 29.—Net operat- . ing income of the Chesapeake & - Potomac Telephone Co. of Baltimore « Penna 4% '63 92% 904 +1% Penna 55 '64 97 951 +1 Penna gen Penna 6%='36. .. current year. The average de- crease in production is estimated at 5 to 10 per cent from the first seven months of 1932. Canadian Pacific deb 4s ... 4 Canadian Pacific 4%s '60. Canadian Pacific 5s '54. Cent of Ga Ry con 5 Cent 11l E1 & Gas 55 City in June showed a decrease of $7,569 | from the same month in 1932, the re- port of operations just filed with the | Maryland Public Service Commission * ceeds of which paid off some bank loans. | Mixea colors, special packs. 18a21; was exempted | standards, 16al7'z; firsts, 14!;al43; ents cf | seconds, 13'.al4; medium, 12a13; the entire | dirties, 12a12 checks, 10'zall. Deets Warfield, Jesse P. King and Hu- 1005 987 100% 1% : i T 1047 103% F1% | pert P. Burdette of Mount Airy were| i will have to m comercial banks. Doubt- ‘Whites. nearby selected, 23a25; West- ern receipts. spacials, 20a22!;; stand- ards, 18al9 undergrades. 17a171.. Browns, tby and Western special cks, 20a26: standards, 17':a19. FOREIGN EXCHANGES. Cent Pacific 1st rf 4. Central Pacific 58 ‘60 Certain-teed deb 53 “4 6313 Chesapeake Corp 58 '47... 875 Ches & Uhio gn 4128 '92 80 Ches& Ohio 41s A '93. 79 Ches & Ohio 4%s B '95. 100% Ches & Ohlo con 5s'39 . | Penn P rfl.,_| 4%s 9 + a, | elected directors of the First Nl\icmal‘ | shows. Peru 6s Peru 6s '61 Peru 7s " % Philadeiphia €0 5867 Ihila E1Co 48 '71.. 3 Phil& Read C& 168748 Philips Petrolm 5% s'39. Poland 6s "40 — % Bank without a dissenting vote and | stock of the institution were voted. - At the same meeting David R. Roop, for many years a member of the board of the Pirst National Bank. announced +1%17,000 of the 10,000 shares of pmerred‘COMMUNlTY BACKS PLANT EXPANSION, | Operating revenues in June were $1,042,095, as compared with $1,123,030 last vear, a decrease of $80,935. Operat- ing expenses were $654.583, as compared with $749,022 for June. 1932. | " Revenues from out-of-town telephone Is in Maryland in June amountec to 96 per cent of the revenues for the Poland 7s ‘47, 9 r —215 | his_resignation. With three additions s Poland 85 50, >~ -2-,' and uu‘nnfl‘nltwn. the board of 13 Front Royal Meeting Spurs Hoper,su;g:t m&z:;r: mxn u11932, = Port Genl Elec 4 T1y | members is now composed of Ray = 2 o] g income of the company Fosts) Tel & Cats RS s "Beall, Jobn R. Hardy, That Sum Will Be Raised for |for the six months ending June 30 vauze)‘bach-flubu Co. s some arrangements of this sort now NEW YORK. July 24 .P.—Poreign ex- change steady: Great Britain in dollars, re being carried out Aside from the new securities act, the | $.311s: Cableer 4 5100 60-Gas "biits, CSHRC: handlers of new bond issues have had o Sicaniee It 10 consider the stock and bond markets. | S many g When stocks go higher there will be | . plenty of convertible bond issues offered. | 1! Fo try to float new issues at & time|land. 1 when there is considerable liquidation | slavia. of -instituticnal holdings, such 2s banks | 1.z and insuramc? companies, probably unprofteble. Chi B&Q 11 div 4848 Chi Bur & Q gen 45°58 ChiB&Q4%sB'i7 « ChiB& Qref5s°71. Chi & Eastn Il 58°51. Prussia 6s°52. 3 —2% | Wirtter D. Jones, John R. Lewis, Wal- amounted to $1,298522, as compared Chi Great West 48’59 Prussia 6343 ‘51 —g% | ter R. Rudy, A. B. Sellman, Charles with $1,515416 for the first six months Chi MStP& P 08’7 PubSve E&G 4571, + % |D. Walker, Henry G. Hood, Mr. War- | of 1932. This was a decrease of $216,894. ChiMStP&Padjss..... 3 s 67 1041 102% 104's - % |field, Mr. Burdette, Mr. King and Operating revenues for the period end- & D 52037 ‘ s 4% 104': 103's 104'; 113 | Prank L. Stoner. Special Dispatch to The Star. ing June 30 amounted to $6,139.187, as Pure Oil 515 '37. 92 911z 92 -~ 13| Holders of preferred stock of the WINCHESTER, Va. July 20—At a|compared with $6.805.429 for the first Queensland 6547 88 8T + 1, | First National Bank, acquired during|mass meeting of business men of War-| six months of 1932. This was a decrease Queensland 7s *41 99% 99% _ a | the reorganization, will be given the | ren County at Front Royal last night, | Of $666.242, Reading 4345 A 97 | privilege of converting their holdings it was practically assured the com- | e Rem-Rand 6148 A o 11Z|into common stock of the institution, munity will offer $750 to $800 to the| 3 S|it was announced. Action was also Swerzenbach-Huber Co. as an induce- | COMPLETE wed 0.18: * Switzerland, ortugal, 4.141;n: Greece. .76n 5.4:n: Czechosiovakia. 4.03n 1860 on: Ri Chi & Nwn 4% Chi & Nwn f15s°36. Chi R1& Pacref 48'34. ChiR14% Chi Rock 1s1 4 %8 '60. Chi Union Station 4% Chicazo Un Sta 5s°63. fi,’,‘,‘.‘,‘f‘,’:;,’:,":: ;' et : - :2:‘; taken to reduce the par value cf the ment to install 134 additional looms to | Rhine Westphalia 6s 'S -3n | Trade Reports at a Glance By the Ascociated Pres: NEW YORK, July 29.—Tabloid review of busizess reported by Dun- divisions of wholesale and jobbing, retail trade. manufacturing and industry and collections this week, compared with Bradstreet in the fcu the corresponding period last year. «Philadelphia Pittsburgh Chicago ... Cleveland Kansas City Milwaukee ... RGEE D ra St. Louis .. A | Fai % ! Good Good Cemment. FHILADELFHIA —There has been a little marking of time during the Atlanta Baltimore past week. awaiting the effect that working hours and increase in wages is to have, but th> trend toward in- creasing activity in all lines continues, larjlest gains in retail sales being reccrded for men’s and women's clothing, _|. and traveling accessories, house furnishings. furniture and rugs. sale orders for men's and women's Fall clothing threz times as large as a year ago. Lumber orders lighter than last week. PITTSBURGH. — No contract of industrial operations. p-r cent of capacity. duction expected during next two weeks. lcvel, which was the largest in menths. active; other containers moving freel operating at about e in w te ccller worl clightly unde: in excess of seasonal requirements. to decrease. Lumber orders less numarous. last week. Grain markets stronger. CLEVELAND.—Slight lull in wholesale and retail buying. rices rising; wages being increased to add to general purchasing power. Rpproximutely $57,000,000 disbursed on Tuesday in initial liquidating divi- dends to depositors of tne Union Trust Co. and the Guardian Trust Co., most of which is expected to appear in the retail sales totals next week. Crops in this district badly in need of rain. Wage increases of 5 to 25 cents an hour granted to 4,000 city employes.. DETROIT.—There is no evidence record cf local statistics. mcderate pace. Employm:nt gain July 15. A general rain has imnroved operating with the administration in appiying the industrisl codes so far rromulgated. Abcut £0.000 autemo on July 31. KANEAS CITY.—; elump. Wholcsale ms il Four leading garment menufactu: 1929 rate. satisfactory. The trend of local s Employmsnt increasing Jarge motor car plants are working the largest number of men since 1929. New national bank opened to replace one operating under conservator; opening deposits of $12,600,000 freed tied up in the old bank. MILWAUKEE —Expansion continues in all industrial and commercial lines. Employment gaining steadily. More work:rs taken on this week by ‘metal, furniture and allied trades. General willingness expressed to comply with administration’s blanket code: some firms already have placed it in operation. Retail sales maintained at high level, despite Midsummer season. ST. LOUIS.—Wholesale buying lighter in ready-to-w:ar clothing, but orders for shoes are on the increase. Mest cf th» unemployed workers have three menths. e iron end s.eel ahead for th- n: bzen recelled o in activity. Lzod pected to b2 a big help to retailers. ATLANTA.—Improviment both in wholesale and jetail distribution Majority of indusiries are operdting on_ increased schedules, with wider employment end higher wage scales. 'h and melon shipments are at the peak, with good yields and satisfactory returns. Tobacco mark:ts opened Monday; reports indicate good grades and fair continues in all lines. crops. BALTIMORE. — Improvement ‘in business continues here unabated. Increases reported in employment, instead of usual seasonal decrease.. All industries co-operating fully with the administration to increase wages and Manufacturers increasing production and sales. Orders for textiles and clothing running as high as 75 per cent above last Better outlook for fertilizer producers. Canners profiting by increassd prices. Meat packers repert increases in production and sales; reduc: unemployment. year's total. inventories low. Wholesale. . Good Gt . Good . Fair Good Fair Fair . Fair Fair Detroit ... : . Fair Fair . Good Fair Un=mploym>nt Improvement in local industry continues at a 10 per cent in th2 four weeks ended s to receive a 10 per cent increase in wages increased vaf Fiour shipments for wesk d=clined. Liv: and zinc minzs addinz mor: worksic. Re! increased herply Guring the last 10 days; cpcraticn of blanket code ex- = Retail. Mig. Col. Good Fair Good Good Active Fair Active Fair Active Fair Active Good Active Good Active Good Active Fair Active Good Good Gozd Goad Cood codes and programs for shortening 0<s, staple dry goods, luggage ‘Whole- Steel mills Increase in window glass pro- Plate glass output above June Demand for boer bottles less Glass boitle blowers granted 20 n in wholesale and ccat salary good 23 e: Steel ingot cutput high:r than Retail of the usual Summer decline in the the crop prosncete. Michigan is co- s.ics 15 miziG. bul encoureging. Consumei buying power increasing. 25 p:r cent, restoring ock prices continue in the building trade; two of tke considerable money that had been Shoe manufacturers are booked % Chi Un Station 6%s 6. Chi & West Ind con 52. Chi & West InA 5%s 62 Childs Co deb 5843, Chile 65 °60. Chile 6s'61..... Chile 6s Jan "61. Chile s Sept "61 Chile Copper deb. 4 Chile Mtg Bk 6s'61. i Chile Mtg Bank 6% 85 Cin Un Term 5s 2020. . CCC&StLrf4%sE"T. CCC&StL6sD........ Cleveland Term 55 B '73.. Clevgland Terminal 51s. Cologne 6%5°50. .. .c.... Colombia 65 ‘61 Colombin 8: 1, Oct. Colon O:l 65°38. Colo & Sou ref 434535, .. Columb G & E 55 '52 May. Columbia G & E 5s'61 % Comm Invest 5%s ‘49 Con Coal (Ma) ref 53 50.. Cons Gas N Y 4%s 51 Consol Gas 58 '57. ConsGas N Y db5 Copenhagen 55 ‘52 Cuba 5% °45. Cuba R R 1st 58°52. Cuba North 5% 54 4 Czechoslovakia 83751, Del & Hud ref 4543 De! & Hudson 5%s ‘37 Denmark 4% Denmark 518 '55. Denmark 65 '42. Den & Rio Grande cn 43 i Den& RG West Den& RG West ref 5 Det Edison ref 53 ‘52 i Det Edison ref 5s '55 Dodge cv deb 6340 Duquesne 1st 4348 Dugquesne 4%5 B '57 Dutch East Indies East Cuba Sug 1% Erie con 43°96. . Erieref 5'75. Flut 78 '46 war. . Finland 78 ‘50...... Fisk Rubber és'41..... Flor East Coast 58°74 French 7s°49.. French 7% 841 . Gelsenkirchen 6s 34 Genera) Cable 5% s '47 Gen Steel Cast 5%s 49. Gen Theater Eq 62 ‘40 German Bank 6338 Ger Cnt Ag Bk 6s July Ger Cnt Ag Bk 63 Oct German Gen E] 6348, German Gen El 7s 45, German Gov 6% German Rep 75 '49 Good Hope S&IW 7345 Goodrich 6s'45. Goodrich (BF) Goodyear Rubber 5s '57 Grand Trunk 6s°36... % Grand Trunk 7s ‘40 Great North 4%s D Great Nor gen 5%s B Great Nor gen 7s ‘36. . 4 Hudson Cogi 55 '62 Hudson & Man adj 55 °57. Hudson & Humble Of] deb 55 '37. 111 Bell Tel 1st Illinois Cent rf Illinois Cent ¢% s Inland Steel 4% 5 A Inter Rap Tran ref s Inter Rapid Tran 6s '32. Inter Rap Trancv 7s ‘33 507 Inter Cement 58 '48. 3 Inter Gt Nor adj Int Hydro Elec 30 Inter Mer Marine fx‘41.. Inter Paper 58 A ‘#7......, Man rf5s°57... 1 4 Unit StI Wi Rhine West E1 P 65'53. .. Rhine West El 6555 ww. Richfleld Ofl Calif 65 "44.. Rio De Janeiro 6%s '53. Rio de Janeiro 8s'46. Rio Grande Do Sul 6s Rio Grand West 4s col "49 RIArk& L 1st4%s 34.. 4 Rome 8%s '52 .. Royal Dutch 4s'45. Rumania 7s '69. e SLIM&SR&G4s'3s.. StL &S F 45 A'50. StL&SF 4%s 8. StL &S F 53 B'50. StPKCSL1st4%s’4 Sao Paulo State 7 Sao Paulo £5 50 Saxon Pub Wks 6% Saxon 7s 45 Seaboard A Seaboard A L 6345 Serbs Croats Slov 7 '62. . Shell Union Ofl 3 Shell Union Ol 6s Sinclair Ol 6%s B Sinclair Ofl 7s A ‘37 Sinclair Pipe Line 63 '42. Skelly Of1 5%s '39. Southern Bell T&T . Sou’west Beli Tel 53 A ‘54 South Pacific col 4s°49. South Pacific ref 4s'55. .. 4 South Pacific 4%4s'68.... South Pacif 4%s " South Pacific 4%s . South Pac Ore 4145377 . .. Southern Ry gen 4s A '§6. Southern Ry 5s '94. Southern Ry gen 6: South Ry 6148 '56 Stand Oil N J 5s 4 Stand OIIN Y 4%s Studebaker Corp 6s°42... Sweden 5148 '54. Switzerland 5% ‘Tenn El Pwr 65 A *47. Texas Corp cv 68 '44. Texas Pacific 58 C 79 Third Ave 1st ref 0. Third Aveadj inc 55°60.. Tob Prod NJ 6%s 2022 Tokio 538 "61. Tokyo Elec Lt 65 '53. UnEIL&P5s'57 UnionEIL&P5%s Unien Pacific 1st 4s Union Pacific 4s '68. Cnion Pac I1st rf 4s 200! Unite¢ Drug 5s '53. U'S Rubber 5 °47. Unit Stl Wks 6%s A %8 A 51 Gruguay 6s°60. Uruguay 6s "64. . Utah Power&Light 5s *44. Util Pow bs 49 ww. Utilitles P& L 5%s *47... Vanadium cv 5841 Vienna 6s '52... Va Ry & Power 6. Virginia Ry 1st 55 A "62.. Wabash 4%s'78 Wabash 1st §s'39 Watash 2d 55°39. Wabash §s B 76, Walworth 68 A '45....... Warner Brs Piccv 6s°39. Warren Bros cv 6s 41 Wareaw 7s '58. . W 4 Western Union cl tr 6s 38 Western Union bs '51. 36% West Union 55 °60.. Westn Union Tel 635’36 Westphalia El P & Wilson & Co 1st Yokohama 63 '61 Youngstwn Steel 5s A Youngstown SET.58 B 70 | . 59 101% 101 57 101% 99% 78% +3% | lower; dbu;m 25 lower; top, $7.50. % + % sales 10 to 15%lowsr; top, $4.55. per sh: New York Cotton Special Dispatch to The Star. tuations continued to characterize cot- ton trading today, with prices changing frequently over a range of a quarter of a cent and ending 2 points higher to 2 points lower than yesterday. Active selling at one time caused a loss of $1 a bale but a vigorous recovery occurred before the close. Spots were unchanged at 10.50. ‘Weather conditions were more favor- able in that little rain fell in the Mis- | sissippi Valley and Eastern States, while showers developed in the South- west. Probably the most important market factor was the first definite appearance of - hedging from the new crop move- ment and several houses reported sell- ing orders against purchases\ in the Southern part of Texas. The question of marketing the new crop is attracting considerable attention in local cotton circles owing to the enormous buying have bought on a scale rarely experi- enced cxcept during crop deterioration in August or during the Fall marketing season. Whether business will continue at a rate which will warrant normal raw material purchases while the crop is moving remains to be disclosed. But reports from wholesale dry goods quar- ters reflect anything but optimism over immediate developments. Mills have turned out goods during the last three months at the highest rate on record and retailers have re- plenished stocks in advance of the in- evitably higher price level made neces- sary by Federal legislation. In order to stock up, retailers have used capital and secured credit and now find a heavy floor tax on all:goods unsold in order to meet the costs of acreage reduction. The burden is proving much more seri- ous than any one had anticipated and th2 topic is being anxiously discussed in both wholesale and retail quarters. Just what the public reaction will bz | to an advance of 100 per cent or more in manv lines of cotton goods remains to be discloced. After running two or three times as heavy as last year for several weeks, into-sight figures dropped sharply this ‘week and 113,000 bales proved only 5,000 over last season. This abrupt falling off in the marketing movement had been foreshadowed by the decidedly reduced demand from consumers, which has been a subject of comment in spot quar- ters the past fortnight. Buying began to slacken two weeks ago when contract quotations moved upward from 102 to Markets at a Glance By the Associated Press. NEW YO Hogs, scal by mills of cotton produced in previous | * Buiin ‘ g the last three months mills | original common stock from $100 to $10 | the present equipment of its silk miu: | plant at Front Royal. | The meeting, at which Col. H. S. ‘Wagner, president of the Chamber of Commerce, presided, was marked by a fine spirit of co-operation and $395 was | pledged toward the project before the | session adjourned. | It is known that the Swarzenbach- NEW YORK. July 29.—Nervous fluc- | Huber Co. is planning to remove looms | | from its plant at Juanita, Pa, to some | new location, and the amount which | Front Royal will raise will pay ap- | proximately one-half of the freight | costs for the shipment of the machinery | to the Warren County plant. Provided the Swarzenbach-Huber Co. can be induced to locate this machinery in Front Royal, the additional equi; ment will add at least 140 employes to the present plant, with a conserva- tively estimated monthly increase in its | pay roll of $8.000. | A new building to provide an addi- tional 1,000 square feet of floor space | will be required at an estimated cost of $40,000. i Saturday Brings Heaviest Buying, Survey Disclos By the Associated Press. The importance of Saturday in the week's sales of department stores has been shown by a series of indices ccmptled by a large re- tail organization. Using Monday's volume as 100, indices for succeeding days of an exceptionally good week were 99 for Tuesday, 103 for Wednesday, 115 for Thursday, 121 for Friday and 155 for Saturday. Saturday’s indices for other weeks ran 179, 162, 175 and 180, using the Monday level as a base. | i 6%, Over Forty Years of 5 Experience In First Mortgage Investments National 2100 SERVICE Accounts Carried on Conservative Margin or Monthly Paymen: Basis Robert C. Jones & Co. || storenam Blac. Met. 2922-23-24 AN OUTSTANDING low-priced STOCK Offering Income and Price Appreciation This stock. now selling around 10, sold over 70 in 1929. It pays a dividend of approximately 4% — which is amply covered by the current rate of carnings. The name of this stock, and the analysis upon which we believe it offers better- | than-the-average profit and income pos- sibilities will be sent by return mail (air | mailif requested) to first-time subscrib- | ers to The Magazine of Wall Street. $1 Brings You All This Name and analysis of this outstands ing low-priced stock. 2. Next five 35c issues of The Maga- zine of Wall Street, beginning with the July 22nd issue. 3.0ne of the most popular béoklets from our Investors Series—"Prin- ciples of Successful Speculation.” Pin your $1410 this coupon and mail today. Magazine of Wall Street i The Investor’s Guide for over 25 Years | | 90 Brosd St. w<-125 New York, N.Y. § i Enclosed is $1. Send me the analysis as de- } 3 scribed in your offer, your booklet “Prin- ciples ccessful Speculation™ and the next five issues of your magazine. INVESTIGATE and you will find our FIRST MORTGAGES offer a very attractive form of investment — both in interest earned and security of principal. multiples of $250—and upon our Partial Payment Plan if desired. B. F. SAUL CO. 925 15th St. N.W.