Evening Star Newspaper, February 11, 1935, Page 13

CURBLIST MOVES T0LOWER LEVELS Some Strong Spots Remain in Specialties and In- dustrial Shares. By the Associated Press. NEW YORK, February 11.—With the exception of a few isolated spots of strength in speclalties end indus- trials, prices on the Curb market were generally lower today in quiet trading. Lerner Stores advanced 3 points on small sales, Montgomery Ward “A” was nearly 1 point higher and ad- vances of around !; were shown by Pittsburgh Plate Glass, Serwin-Wil- liams and the two Swift issues. Lower prices were taken for shares of American Gas, Cities Service, Elec- tric Bond & Share, Gulf Oil, Hiram ‘Walker, Lake Shore Mines and Wright Hargreaves. BONDS ON THE DOMESTIC BONDS, Alabam Pw 4'gs '67. 5_ 38 el Tel Can 354 n Nt R E 7s un-m-n Pc’ 6s D104k104 104Y% 4207 1043 1042 103 % e 84 100 031y Lexington Ut kltb)’ D oBs 100 friey 0 Nevada Calif 55 ‘56 New Eng G&E 5s 47.. New Eng G&E 55 4% | New Eng G&E 55 '50 New Eng Pow 5s '4 Pew Exg P Sias 5e Y P&L i“: N Y SL EG 4 0435 10- 0234 10234 2 6?“7 sxv L 100% 100% 100% 108 7108 © 108 S104 104 104 HM‘. 104‘4 104 and Stock Sales— Dividend Rate Add 00. High. Air Investors, Ine 2 All Pwrpf (6)... A|ll!fl Mills, Inc.. Alum’n Co of Am. 1508 Am Cities Pwr & Light A (3) 2008 Am Cities Pwr &LtB (k10c) 3 Am Cynam(B)40c 13 Am & For Pw war 2008 Am Founders. 1 Am Gas&El( 21 Am Gas&El pf(6) 300s Am Laundry (40c) 200s Am Lt&Trac1.20. 3 Am Superpower.. 80 Am Sup'pwr 1stpt 1 Am Sup'pwr pf... ‘Anchor Post Fen. Arcturus Radio T, Ark Nat Gas (A). Ark Nat Gas cu pf Armstrong C k250 Art Metal (k25¢).. Asso Gas&El (A). Atl Coast Fishel Atlas Corp Atlas Corp Atlas Corp(A) (l) Babcock & Wil 40c 50s Benson & Hedges. 1 Blue Ridge Corp. . Bourjouis (k25¢). 500: Bower Roll B (1). Bridgeport Mach. Brit-Am Tob cou B (p356 3-5¢) ..., Brit Celanese Ltd rets.. Brown Forman... Buckeye PL (3 Butler Broi Cable Radlo vte Can Indus Alco Can Marcont. ., Carib Syndicate Carrier Corp... Catalin Corp. . 6% i) Celanese 1st pf(7) 508106 106 106 Celluloid Corp pf. 1258 35 Celluloid Cp 1st pt 25s 78 Cent States Elec.. 4 Cent States Elec cv pf(new) 100s Cent States Elec 6% ptxw 1 Cent smes Lleo 508 Chi R&M (ksw,e) 3 “hilds Co pf. . 10s Cities Service. ™ Citics Service pf.. 5 Cities Service P& Lt $7 pt 50s Cleveland Tractor 11 Columbia Gas & Elec cv pf (5) 50| Com'with Ed 4) Low. Close. 1% 45 35 8 % THE EVENING STAR, WASHINGTON, D. C., MONDAY, FEBRUARY 11, 1935. N. Y. CURB MARKET ||CODE UNIFORMITY Received by Private Wire Direct to The Evening Star. Stock and Sales— Dividend Rate. Add 00. High. 1% | St Anthony Gold. 1000 & 45 |St Regis Paper... 6 Salt C'k Conskife 1 13% | Secur Corp Gen... 1 B e et chw). 0 allot efs (3%). 508 33% | Shattuck Den .4in 1 Sherwin Will (3). 3008 1% | Smith (A 0). 100s 16% | Sonotone Corp.... 7 2% | South Am Gold % & Plat (k30c) 27 20 |SouthPenn01.20 5 Southn Calif 13% Edispf B(1%). 9 | Stand Inv cum rf. 1 |Stand Oil Ky (1). 46% | itand Oil Ohlo. ... 10_ | Stand Oi1 O pt (6) &% | Stand Silver & La. % | Stein Cosmet (r). Stutz Motor. 374 | Sunshine Min §4c. % | Swift & Co (t75¢) 8 | Swift Intl (2) 8y, | Swiss-Am Ele 2% 48% | Tastyeast, Inc(A) ‘Technicolor, Inc.. 313 | Teck Hughes(40c) 1% | Texon O&LdA(60c) 1% | Tob Prod Ex(10c) 4 | Trans-Lux Daylite 17| Picture Sn (20c) gnlan Gas ot‘C-n nit Carr K (60c). 29% [ nge Corp'n war. . 2y, | Unit Dry Dock(r). 8% | Unit Founder: 32 | UnitGasCorp.... Unit Gas Corp pt.. Unit Lt&Pwr (A), Unit Lt&Pwr pf., Unit Molass Ltd (P 3-6)........ Unit Profit Shar'g 1714 | Unit Shoe M(t434 100 67 | US Fol (B)(60c). US&Intl Secur.. 1 ' US Playing Card (11.75) 100s & | Unit Stores vte. .. Unit Verde Ex 400 1% | Univ Consol O11. ... Utah Pwr & Lt 1% pf (m1.16 2-3¢) Utilities Pwr&Lt, 24, | Utility Equities. . 145 21 9% 1% 1 1 1 2 9 8 3 2 7 3 1 s 2 35 8 — Voght Mfg (k50c) e ldtoal Shlndo Waco Afreraft.... Walker (Hiram), 30 12 8 53% 54% Wenden Copper W Va Coal & Coke Western Auto Supply A (3) Westn Air Exp(n) k) 3% 65 3% Comwlth&So wa: Compo Shoe (nuc) Cons Aircraft.... Cons Copper. ... Cons Gas o Balto (3.60) Cons Retail Stores Cord Corp (k25¢) . Crane & Co. Creole Petrol'm. Croft Brewing. ... Crown Cork Intl (A) (m75c) Cueno Press(1.20) Cusi-Mexicana M. Distillers Crp-Sea Distilled Liquors. Dubelier Condens. Duval Tex Sulp! Eagle Pitcher Ld. Easy Wash Mch B Eisler Slec Corp. . Elec Bond&Share. Elec Bd&S pt (5). Elec BA&S pt (6). Elec Share pf ww. Emp Pwr pt um. Ea by O Evans Wall Lead. Ex-Cell-O A&Tool Fairchild Aviat'n. Faicon l.ead..... Fanny Far (25¢).. Fidelio Brewery. . Fisk Rubber. . Ford Mot Can (A) (k1%). Gen Rayon Ltd A. 1 Gen Tire & Rubber 758 Ga Pwr$6pt..... 758 Glen Alden C t1% 1 Globe Und (k50e). 2 Goldfield Consol.. 2 Gold Seal Electric 1 Grand Rapids Varnish (50¢) Great Atl & Pac Tea n-v (17), Great Atl & Pac Tea 1st pt (7). Greyhound (Del). 110 Gulf Oil of Pa.... 1 —_— Hecla Min (40c) Helena Rubenst' Hollinger G 11.30. Hudson Bay M&S 6 Humbole Oil (1)... 4 Hygrade Syl (2)..175s 111 Pwré&Lt $6 pt. Imperial Ol Ltd coup (180c) Imp Tob Can (t52%e). Indian Territory Illum Oil (A). Insurance Co of North Am (2) 1 8 7 12 - 60s 1 1 2 1 2 ! Int1 Hydro Eles 2 Y 10830 1085, 1080 8. snerld: Wyo Gs '&7... 50' .'N!‘z b()’ Yo Calit Ed_5s !o Clrolmn Bs ’5/ MB 78 47 M&N Fohov Bro 6148 Nippon E P, 68 5 21, Russia, b%luc’t'lé ,% i T xw—Without -n:r'nn w'mn_':'l:' B0 1 When | issued: st NeRotapIy Jmpatred by _maturity. tCompanies reported in receivershio. NEW YORK PRODUCE. Hg%;“' onE, Ty A, 0-oR onker. Mix Ioflllofll rom fl’ll ‘ d commercial l'.lnd- """"“sa. 4307 mediums. 40 se5. No, 1, 42 pounds, Lt ot sh e S8y sretgnt: cmek- ted; fowls, PP L ducn 16!18 —_— NEWARK RECEIPTS CLIMB. NEWARK, N. J., February 11 (?).— Tax collections here for January show an increase of more than a million dollars over collections for the first month of 1934. Total collections for January, including both cunent -nd delinquent, were $4,075,000, as com: pared with $3,014,000 in January, 1934 System cv pt 1008 | Lntl Mining (k15¢c) intl Petrolm (12). Irving Afr C(40c). —_— Kingsbury Brew.. Kirby Petrolm. ... Klein(DE)Cot1%. —— Lake Sh M (t4) Lerner Strs pf 674 Libby McNeill&L. Lone Star G(p16c) Long Island Light P B (6)....1258 Loulsiana L& Ex. 2 McColl Front 80c. 100s McCord Rad (B).. 2 McWilliams Dr(1) 50s Mangel St pf ww.. 208 Mavis Bot (A)(r). & Mid West Util (r) 2 Mock Jud Voe (1). 1 Mohawk Hudson 1st pf (4) 3008 Molybdneum..... 10 Montgomery ‘Ward A(mb%). 20! lM 134 la‘ kil Murphy Co (1.60). Nat Bella Hess... Nat Pw&Lt pt (6) 700' Nat Rubber Mach. 1 Natomas Co(60¢c). 1 Nelsner Bros ptf 7. 508 N Y Shipbldg 40e. 1 N Y Water Sve pf.100s Niag Hudson Pwr 2 Niles-Bem-Pond.. 1 Nipssing(k12%e) 2 Noma Elec Corp.. 2 Northam Warren conv pf (3)... 508 Northn N 'Y Util PL(7)..... 1008 —_— Ohto Ol cu pf (6).100s Ohio Power pf (6) 40s Overseas Secur... 1 Pacific Eastern... 1 Pac Gas & Elec 1st pt (1%)300s Pan-Am Air(k§0c) 3 Parke Davis 11.40 400s Parker Rust P(3) 100s Pennroad Corp... 5 Pern W&P (3).. 1 Pitney BoP (20e) 4 Pitts Plate G 1.60.250s Premier Gold 120. 2 Prop'ties Real vte 2108 Propper McCall'm 1 Prudential Invest 12 Puget Sound Gorham pf ww... 150s 19% low, 208127 126% 126% 508124 4 Westn Md pt Wilson Jones (k1) Woolworth(FW) 2% Ltd (k74c). Wright Har(160c) 56% 2% 3% 9% 12 14 8Y 32% 2 16% 15% 58 16% 21% 9 26% 8% — Yukon Gold...... G mflina rates in nonl rly or semi-annual pumen lot zumu Partly extra. x unble in cash ol nbln ln m:ck !Plul Bi m l!o:k hPayable in script. 8% ln -mcl pPaid this Jur—no rnum r-te mA:cumullud dividends. nPlus 10% last n-r—no rnulu ERGS RREGULAR ON . C. MARKET Government Grades Drop Cent—Premiums Paid on Nearby Receipts. % % s based on last Od 9% 4% 3 B 5% 48 51% 42% 10 1% Y% 6% 8% * 8% 4 8% 30% Egg quotations were irregular on the Washington produce market to- day. Government grades lost a cent in sympathy with Saturday declines at New York. Supplies of nearby offerings were light, with dealers bidding for re- ceipts. Limited quantities brought a 1 to 3 cent premium where dealers had known outlets. The summary with egg, live poultry, fruit and vegetable prices furnished 6% | by Lhe Department of Agriculture fol- 1% 64 57% 20% 1% 64 57% 20% 8% 812 | * T % " i 19% 6% BUTTEB—One-Dound prints (92 1-pound prints (90 1-pound prints (88 score) score). score). 14a16; 820; 12¢ 124 : 25% 22 26% hM‘EAT 5 mb. 15 6% 56% 56% ik SN0 B % % | 15516 comboun TRt ECGS—Government sraded euns 1 cent 17% lower today in sympathy with lower prices a t New York Saturday Supplies of ne 12% 2% unur\ded esss very light and dealers md- 4 Quotations _mostly namlnn' "with | lm-)!ed quantities bringing 1 to 3 cent premiums where dealers h-ve known outiets. _Current receipts. 20a: hennery whites. 33 M 00 nment lrxdgd and dated 'white eggs: U'S extres.laree. U. 8. extra medxums 35; U. 8. Slandards lavee. 35" Goveramens syaded and dated brown ewis: U. S. extras. large. —Market steady at un- es Fomte Coloted sl sisen, 17a18; lhorm mu mnm wmur chi Mixes a18. smnx brollers 11 19. eys: old Hens 18830} olq toms- 1 Capons. 5 to 6 pounds, 22; 7 to 8 uunu 24298° shivs. 'r‘lu and Vegetables. Bales in lll'le lots by original receivers un w 8 a. day: Dirkree u'-‘::kmkfi'fish'fi? Vi & N ehtnled 14 30% 6% 1% 2% 16 Washington = arrived: unbeoken cars en a. 2Vs-ing 50% | minimum, "1.16a1 25 1. 1 20 L Dolu: lJ. 75 Bolden mu%fium%h "mln{- % mum 36 1 ’/4 nch minimum, 1.65 T'38a1.50; 40% | Bovame, U8 5% 70!85, ..-mcn ml lmum 60a65; 2%- lnch imum, 1.00a1.15; West Vi 2. U. 2%-inch lmmum. Stl m !. ity S Ro, oy 1.50a1.60; Yorks. minimum. 1.25a1.3 inch m!nunnm hxr undlnon. Black Tw! 168 ium ' to large llu Wllb\nlwn Dellclou&. lx!rl fancy, Winesaps, extra fancy, 1.65a Btaymans. extra fancy. 'mostly und !60, Vll’llnll enmhuutinn extr. and cy l.’!hlsu. Jonnhlm. l $ 15 6 27% u* 1 ancy % Romes. 5.0 C 08 CABBA( B—T'o Ne' Yol’k. lhl’ee 'l'e'lll srrived; four ‘broken mlcli Six 1?“{?“)1'1" cars on traci ew st upplies light; demand Lis ket dull. — Texi Y 1% 63 % 8 90 9 50% 3% 2% 2% 3 lorida onn broker and_thiree unbroken light: demand mrm ltenfy‘ c-l lomll, Ya ‘wash -6 7584.00; nd ‘»u“&““ i aned ety LETTU One California arrived: 124 | fout- broken and four unbroken Ears. on zu tucl Western stock: sun llu mndem.e, and moderate: market em crl!al Iubeg type. d “\‘I cm- fornia. jal Valiey. “best, 3.50; fair condition. 3.0083.25: jiods. 3 50 Southern " stoc] vllu )i light: market steady. rida. l‘/.-muhe 4% hamgpers. Big Boston lm fair ‘condition, o Onion Prices Improve, e BonoToCEea R L R % ca moflcnte. 87 4% 91 20 1% 2% 20% 43% 34 60 1% 656% 5% M'A 18% S 5% 37 50-pound sa, .i’ e :s‘ coumc 208 | Sacks - Valencias, U . 1. ptiod nrfix. 65175, u d bro ho Bufi.’:‘m m’?m e?xf&u e two_broken XA ‘mar n m-nv. Pa&L$Spt. 10s 15 Puget Sound - P&L3$SDL... 208 — Reynolds Invest., 1 % light. B ‘weak, 40a50; South 1S COMPLEX 1SSUE Différences in Wages and Other Provisions Create Pressing Problem. By the Associated Press. The need for uniformity or con- formity in codes becomes an increas- ingly complex and pressing N. R. A. problem. Differences in wages paid by one industry may result in unfairness to another; geographical differentials create similar stresses; local wage practices may be thrown out of line where different industries have differ- ent code provisions in the same town. Stresses and strains range the|ch % | gamut of code provisions. One prob- lem that seemed scarcely to exist at the beginning of N. R. A. is assuming EASTERN ROLLING MILL BUSY AT BALTIMORE Special Dispatch to The Star, BALTIMORE, February ll.—Due to increased demand from automobile manufacturers, the Eastern Rolling Mill here is again busy after a long period of inactivity. A. J. Hazlett, president of the com- pany, said that from a tonnage basis business had shown a “splendid pick- up” since the turn of the year. ‘This time a year ago business at the local mill was brisk, but there was a slump later and little was done be- tween June and December. The East- ern Rolling Mill's principal work is rolling sheets for automobile manu- facturers. Employment at the mill has increased sharply since the first of the year. SHORT-TERM SECURITIES. t . D. Barney & Co.). (Reported by Chas. D. Barney & Coo Allis-Chalmers Co. 5s 1037. ]0]‘- Amer. Beet Sugar s 1940 Am. el & Tel 5tas 1041 Rt Atlantic Refining 55 1 107 Bethlenem Bicel 8o 1008, ;" 104 California Packing bs 1 4 Canad, Nor, Ry. 4%s 10: 97 A ‘zu. Delaware & Hudu? n b3 10 Den. T 1931 serious proportions. This is the sit- | Gsn: b uation created by code provisions whereby one method of moving goods between manufacturer and retailer is legalized and another outlawed. For instance, a code may favor the manufacturer who sells direct to the retailer as compared to a code which favors a distributor who stands be- tween manufacturer and retailers. Or the predominating group of manufac- turers in an industry may get a code favoring one or the other of these methods as best suits the group’s practices, American methods of distribution have long been attacked as uneco- nomic in many particulars. An ar- ticle that cost a dollar to make may have to sell to the consumer for $3 by the time it has been handled by middlemen. ‘The problem has become serious enough to warrant a study by N. R. A. which intends to find out “the degree to which devices in codes are or are not operating in the public in- terest.” The study starts out of the premise that “freezing existing methods of dis- tribution, admittedly below meximum efficiency as a whole should not be encouraged,” but that other meth- be better new “artificial” de- d that many constructive Mchigan Gentral 45 New York Central 6s 1 ¥ 8t. L. Shib River RoR. 5- 18 Penna. R. R. Co. Warner Bros. 65 1939 . STINSON SALES CLIMB. NEW YORK, February 11 (®).— Sales of the Stinson Aircraft Co., a division of the Cord Corp, totaled approximately $1,000,000 in 1934, a gain of 25 per cent over the preceding year, steps are prohibited by the limitations of “present policy.” The question of the monopolistic use of code provisions arises in con- nection with this study, since it is intended to find out where unfair trade practices helping one group against another have been created by codes, GLASS SALES UP, BUT NET RECEDES Libby - Owens - Ford Report Cites Lower Prices, Higher Pay Rolls. Spectal Dispatch to The Star. TOLEDO, Ohio, February 11.—Al- though its 1934 volume of business was greater than in 1933, earnings of the Libbey-Owen-Ford Glass Co. were less than the previous year, it is disclosed in President John D. Biggers' annual report to stockholders. Selling prices for all types of build- ing glass were lower, the report shows, while wages and employment were higher. Pay rolls increased $1,903.- 1706.01, while earnings declined $1,038,- 710.84, equaling $1.24 per share, as compared to $1.65 per share in 1933. Dividends, which were resumed in October of 1933 at the rate of 30 cents , | per share, payable quarterly, were con- tinued through 1934. Sales of glass to the motor industry increased in 1934 as a result of im- proved demand for automobiles and greater public appreciation of safety glass, President Biggers’ report points out. The trend toward the use of safety glass all around in new cars is gaining rapidly among motor car man- ufacturers. Residential building was about on & parity with 1933, but window glass sales increased 41 per cent in physical volume, evidence that a substantial quantity of window glass has been used in remodeling and for replace- ments, as well as for many new spe- cialties. Due to a competitive condi- tion, selling prices have been very low, but advanced moderately in December. Plate glass sales to jobbers showed a slight gain over 1933, but. here again prices in popular size brackets were lower than the previous year because of activity of new gompetitors in this field. ‘The company 1is co-operating in every practical way with the Federal | Housing Administration and believes that the excellent start and accom- | plishments of F. H. A. in 1934 will be productive of increased benefits to gen- NEW YORK BANK STOCKS NEW YOI ary 11 (7). —New Association: Cen Han Bk & Ohne Nu (1.40) 'm Bk & Tr (1.80).4000 8 Tr i e Tr ( 'lflh Ave VM‘) . Pirst Boston Corp () Pirst Natl (100) Unlled BI Tr (70! *Including extras. —_— PRODUCE EXCHANGE NEW YORK. February 11 (M.—Produce Exchange ul.ock 1ist. oon auotations ) Sales in hus Hig} gh. Lo N 3 fnx s M *Harvard Brew 1 Llncoln Pclrol! 1 r Am Tr Shrs '56 1 :;:nn\'ur 0&G.. Hichneld ot Wiy overt ————— FEDERAL LAND BANKS NEW YORK. Pebruary 11 (#).—Pederal | Land Bank bonds: (Quotations as of 2 o'clock.) M4 Asked. Mu & Nov. 1941-31.. 45 45 July 1946 MONTREAL SILVER. MONTREAL, Pebruary 11 M. —Silver futures opened steady, h, 54.00b; Ma: OO0 iy 54.60b: Beptember. | )b; October. 55.55b; December. 56.30b. | eral business, and particularly the | building industry this year. Increased outlays for research and development work were made by le- bey-Owens-Ford in 1934. Efforts were . concentrated on the development of | new types of flat glass and new uses for the company’s products, as well as on improvements of present methods and processes of manufacture. New patents obtained in 1934 totaled 47, while 115 are pending. strong_to | advance | iambs sold &.40; s A_13 U. 8. TREASURY NOTES. (Reporte n.“_ngnlg fiv’.chn D. E"n" & Co) Dt. Yas June CHICAGO LIVE STOCK. CHICAGO, February 11 () (United States Department of Agriculture).—Hogs. including 11,000 direct: Friday ): d choice, 14(-160 pounds, ight ltlihl 160-200 pounds, medium weight, 200- ? heavy weight, ) pounds. packing sows fim and good. pounds, 6.50a7. Dlls good and 100-140 ‘pounds. Cattle, “T0.000: calves, 3:000: £00d and choice fed steers and yearlings strong to unevenly higher on shipper account. near- chotce’ kirds "helne ‘subsiituted for’ toppy cattle showing most upturn: supply small lower grades selling at 11.50 downward: 1] bulk better grade. e, 530 pourds. ounds. 10.00814.0 10.50814.00: 1,300 pounds, | choice, i and 500-1,059 i common and medium. fat higher: _askin sheep slmrA best 005,00 Jsmb undertone 1 ore slaughter ewes. gher: f a STEEL QUOTATIONS (NEW_YORK Februar ce fue annealed saiva heets. rolled, steel bars. o MONEY MARKET. YORK. Peby 1 per c 60 days, 6 m NEW money_ steady loens steady: cent. Pi Red! Reserve Bank. 112 per ce Your Throat Feel Dry and Scratchy? 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