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CURB SIRES GAIN | AFTER EARLY DROP Relief of Credit Tension Is Followed by Resumption of Advance. BY HARRY H. BECKER. Special Dispatch to The Star. NEW YORK. May 9 —Lower call money rates checked an early reaction which temporarily unsettled prices on! the curb exchange today and brought about a substantial recovery all around. I Before the lending charge was j marked down the speculative element seemed to show real alarm over the 14 j per cent renewal figure and offered j many issues in heavy volume. Although ! there was a fairly general reaction, this failed to produce any real liquidation and when pressure lifted quotations re bounded readily. Although the transfer of the most popular recent utility issue to the big board took some of the zest out of the group, it did not hurt volume or dimin ish interest in stocks like American Superpower, Electric Bond & Share, Allied Power St Light and Electric In vestors. Most of these turned down ward after initial buoyancy and the last named was the feature. It climbed sev eral points on top of the recent big rise, but subsequently came down 3 or 4 points. The declines in United Light St Power A, Southeastern Power, United Gas Improvement and American & For eign Power warrants were more abrupt. Reactionary tendencies also appeared in aviation shares after Fokker and Douglas had reached new highs. Strength of Fokker was especially sur prising. in view of the denial of reports that two concerns were fighting for control of the company in the open market. Douglas was influenced by fa vorable expansion news and its current high rate of production. Although sell ing affected most of the other airplane Issues, declines were small. Better exhibition of the oils on the Btock Exchange was without effect on related issues, the majority of which were comparatively heavy. Lion Oil lost part of its recent strength in the face of announcement that a block of the issue has been listed on the Chicago Exchange and predictions that earnings this year would be more than $6.50 a share on the outstanding stock. Trans continental Oil preferred rose several points to a new high peak, while New York showed no effect whatever of the recent dividend declaration. Markets at a Glance NEW YORK. May 9 (A>).— Stocks heavy; General Electric fluctuates wide ly. Bonds irregular; foreign issues soft. Curb irregular; Fokker Aeroplane at new high. Foreign exchanges irregular; Japanese yen slump 10 points. Cotton easy: beneficial rains Texas. Sugar improved spot situation. Cof fee lower; disappointing spot demand. CHICAGO, May 9 OP).—Wheat weak; expectations bearish. Government re port. Com weak; large stocks Nebraska. Cattle steady to higher. Hogs higher. Baltimore Markets Special Diapateh to Tha Star. BALTIMORE, Md.. May 9—White Sitatoes, 100 pounds, 1.00al.50; new po toes, barrel, 4.50a7.75; yams, barrel, 2.00a4.00; sweet potatoes, barrel, 2.00a 3.75; asparagus, dozen, 1.25a3.50; beans, bushel, 1.25a2.75; cabbage, hamper, 65a 1.15; carrots, crate, 2.25a3.50; celery, crate, 2.50a3.75; cucumbers, bushel, 1.75a 3.00; eggplant, crate, 2.50a4.00; kale, bushel, 30a60; lima beans, bushel. 3.50a 4.25; lettuce, hamper, 50a1.25: onions, crate. 1.56a 1.75; Spring onions, hundred, 1.00al.l5: peas, hamper, 1.00a2.75; pep pers, crate, 2.50a4.50: radishes, hundred, 1.50a2.00; spinach, bushel, 30a85; to matoes, crate, 1.75a5.00: apples, bushel, 75a2.00; grapefruit, box, 2.00a3.25; oranges, box, 2.25a4.00; strawberries, quart, 7a15. Dairy Products. Live poultry—Spring chickens, pound, 35a47; Leghorns, 34a42; thin and poor, 25a28; old hens, 35a36; Leghorns. 28a 30; old roosters, 18a30; ducks, 20a25; guinea fowl, each, 50al.00; pigeons, pair, 35a40. Eggs—Receipts, 1,610 cases; native and nearby firsts, free cases, dozen, 29a 2#%; current receipts, 30&22. Butter—Good to fancy creamery, pound, 45a48; prints, 49aSl; block, 4%a 50; ladles, 35a38; rolls, 33a35; store packed. 31a32; dairy prints; 33a34; pr joeas butter, 42a43. Hay and Grain Prices. Wheat—No. 2 red Winter, garlicky, spot, 1.08; May delivery. 1.08. Corn—No. 2 export. May delivery, no quotations; No. 2 yellow, domestic, spot, 1.03a1.04; cob corn, 5.50a5.75. Oats—No. 2 white, domestic, spot, 60; No. 3 white, domestic, spot, 57a58. Rye—Nearby, 1.00a1.10. Hay—Receipts, none. While hay is arriving here in limited quantities only, it is more than enough for the demand, which is being supplied mostly by truck from nearby points, a few carloads be ing received. There Is not enough busi ness passing to establish prices on the various kinds on merit at a range of ] 4 OOalfi 00 per ton of timothy or clover hav. Straw—No. 1 wheat. 12.00a 12.50 per ton; No. 1 oat, 12.50a13.00. New Securities By th* Associated Press. NEW YORK, May 9.—New securities offered today include: Two million five hundred thousand share* Curtiss Airports Corporation capital stock, without par. value, at $12.50. Twelve million one hundred and fifty thousand dollars Merchants St Traders’ Bancshares Corporation class A partici pating and cumulative stock, $lO par value, at $13.50 a share. Nine million dollars Gulf States Utili ties Co., first mortgage and refunding 6 per cent gold bonds, due September 1, 1956. at 94 and Interest. Three million one hundred eighty seven thousand five hundred dollars Llovds Casualty Co. capital stock at $37.50 a share. One hundred nineteen thousand two hundred shares Cable Radio Tube Cor poration common stock voting truat cer-: tificates at *16.25 a share. j Two million one hundred eighty-four , thousand dollars City of Paterson, N. J., 4% per cent bonds, due 1930 to 1969, to j yield 5.25 to 4 35 per cent. Six hundred thousand dollars first, fclosed mortgage) 6 per cent sinking fund gold bonds of Rhode Island Chain Store Terminals, Inc., due May 1, 1938, at 100 and interest. Eighteen thousand shares Viking Oil Corporation no par $2 cumulative and participating preferred and 18,000 shares no par common, in unlta of one share each, at s3l a unit. , . . ■ —•— Sees Successful Year. NEW YORK, May 9 (*).—L. W. Bald win. president of the Missouri Pacific Lines, saybvthat reports from all sections of the South and Middle West Indicate substantiation of earlier predictions thai 1939 would b? a mast successful J’ff' ! for the s-stem. H f gh v. at in the Mis- j si-sippi has not troubled Missouri Pa cific rnd last y'ar’6 track-raising pro- | gram hes put the property in condition ; to firv- ion at 100 per cent, Mr. Baldwin I reports. FINANCIAL/ I | —7—l NEW, YORK CURB MARKET ttXZZX: Sale* in INDUSTRIALS. hundreds. High. Low. Close. 1 Acme Steel 100% 1004, 100% 62 Acoustic Prod St, 5 6 1 Aero Sup Ms Arts wl 3% 3% 34* 2 Aero Sup Ms B n.... I}V« 13% 13% 4 Aero Underw 39 38’* 39 20 Ainsworth Ms» 498* 47% 49% •a Ala Power pfd 113% 113% 113% 21 Alexander Industries. 20 18’* 19 s , 1 Allied Mot 49 48 46 1 Alles A Fisher *5% 25'2 25'a , 2 Allied Pack 4 4 4 48 Allied P k L 56% S 3 54 4 Allied P <r L pfd..., 44 43' a 44 2 Allied P Ac L Ist 77 76 * 77 3 Allison Dr B. 3% 2', 3% 3 Alpha Port Cem ... 484, 48 43 4 Alum Indus 40 s * 38 40% 58 Am k For Pow war.. 89% 85% 86 7 Amer Beverage 15% 15% 18% 1 Amer Brit A C Corp 16% 16% 16 s * 2 Amer Cigar 138 138 138 22 Amer Cities P A L A 43 41'a 43 20 Amer Cit PAL B. .. 26% 28 26% 1 Am Colortype 42 42 42 24 Am Common* P A.. 26% 25% 26 13 Am Common* P B 35% 25'2 25 s * 1 Am Comw P opt war B'* B'* 8% 20 Am Cyanamid 8n... 59 s * 58'a 59'* lAm Cyna B n s7d. . 50', 69', 59% 12 Am Cyanam pfd rts 9"* 9 s ! 9’* 2 Amer Dept Stores.. 17V* 17'* IT 1 * 4 Amer Gas A El 153% 150 152' a 1 Amer Gas A E! pfd. 105'* 105'* 105', 'a Amer Lt A Trac... 342% 242% 243% *4 Amer Meter 116 116 116 2 Amer Nat Gas 12'* 12'* 12% 2 Amer So) A Chem .. 31 31 31 4 Amer S A C p pfd . 49 s * '9 49 lAm Sta Pub Srrv A 27 27 27 133 Amer Superp A.... 154’* 148 152 26 Amer Superp B. ... 154 s * 148% 154"* 603 Amer Super pfd. .. 32 30'* 314* 3 Amer Super 1 pfd.. 99 98 s * 98 s * 257 Amer Super 1 pfd rts 9'* £% 9% 6 Anglo Chll Nltra 39 37 s * 378* 17Arcturus Radio T.. 50 s * 48'a 488* 358 Ark Natl Gas 8% 7 s * 84, 1 ',4 Armstrong Cork 71'* 70'* 71** 4 Asso Dye A Print.... 21 1 * 21'* 21% 134 Asso Elec lud 11 s . 11 118* 40 Asso Gas & El A 57% 57 57 9 Asso Gas &El dtb rts 9 8% 9 1 Asso Rwyon pfd 71 s * 71 s * 71 s * 1 Atl Fruit & Sug IV* IV* IV* 2 Atlas Plywood 55 55 55 21 Auburn Auto Co 223 218 220 2 Auto Vot Mach 10'* 10’* 10' 4 1 Auto Vot M evt pr pt 21'* 21'* 21'.* 10 Aviation Co of Am.. 74 s * 72 72 140 Aviation Corp 21 s * 21'* 214* 1 Aviation Credit 19 19 19 1 « Babcock A Wilcox 122 122 122 3 Bahia Corp 11 li 11 5 Bellanca Aire vtc.... 19 s i 19 19'* 4 Bendix Corp n 164 162 162'* 110 Bendix Aviat wi 83 s * 81 s * 83 s * 81 Beth Steel rts wi..., 6 s * 6 6*4 4 Bliss E W 48 s * 47'* 484, 36 Briggs A Stratton... 36 5 . 35*4 35% 5 Bright Star Elec B . 16 s 4 16 s * 16% 1 Bruce Co 47'* 47'* 474* 6 Brut Myers 94’* 93 944* 1 Brit-Celaneae Ltd ... Bs*8 s * 8 s ; 842 4 Budd Mfg 49% 46 48}, 2 Budd Mfg rt* wi ... 24'* 24'* 244* 9 Bus Ntag A E P 70 s . 70'* 704* 6 But Niag A E P A... 57 s , 57'* 57V, 7 Bulova Watch 31’, 30'* 304, 12 Burma Corp 4'» 4 4 1 Campbell Wyant .... 40'j 40'* 40'* 28 Can Marconi W B s , 8 s * B'.* 3 Cap Admin allot Ctf. 76 s , 78 76 5 , 2 Carman A Co A 31 31 31 2 Carman A Co B 31 30 s , 31 3 Caterpil Tractor .... 85% 84 85 1 Cec.o Mfg 54 54 54 7 Ce.’an Cor Am 41V, 40 40 1 Celan CAm n pfd . 96% 96% 964* 2 Cclan C Am Ist pfd. 110 109*, 109*, 2 Cent Atl Sta Ser vtc 15 14 s , 14 s , 8 Cent Pub S A 45 44 s , 44V, BCent States II 83 s * 80 82 s * 1 Cent St El conv pfd. 136** 130'i 1384* 2 Cent Sta El pfd ww. 84 84 84 7 Chain Store Stock... 34 33', S3’, 6 Chec Cab Mfg 70 s , 70** 70’* 3 City Mach A T 001... 274* 26 274. 1 Cleve Elec 111 62'* 62', 62'. 1 Club Alum Uten 29 29 29 6 Columbia Pictures .. 33% 33 33*.i* 43 Col GAI rts wi... 4 3 s * 3 s , 2 Common with Ed 101'* 101 s * 101 s * SOCona Aircraft 42*4 39 s , 42', 7 Cons Auto Met vtc., 7 6 s * 6 s * 2 Cons Auto Mar pfd.. 29 s * 29 s * 29 s , 14 Consol Film 25 24 s * 25 5 Consol O Balt 99 97 99 22 Consol Instru 31V* 30'* 31V4 16 Consol Laund 19’, 18 1844 9 Cons Ret Strs. 304* 29'* 30 s * 3 Cons Theaters vtc... 22V, 22 s * 22V* 3 Cont'l Diamond Fbire 36 35 s , 36 1 Cooper Bessemer 42 42 42 3 Cop Bessemer pfd. A 50 50 50 8 OorronAßevnlds pfdA 100 100 900 2 Copel Prod A 17% 17 17 3 Courtaulds Ltd 19 s * 19 5 4 194* 1% Crocker Wheeler 310 300 300 115 Curtiss Flying Berv. 2744 26 26 6 Daniel Reeves 39 s * 39 s , 39 s * 9 Davega Inc 34V, 32’* 334* 2 Davenport Hos 26 s * 26 26 1 Davis Drug Allot ctfs 32 32 32 *, Deere A Co 6054* 900 800* * 47 De For R C 158, 15*4 154* 2 Deutsche Bk Berlin. 38'* 38 38 1 Doehler Die C C... 3244 32 s * 32 5 /, 46 Douglas Aircraft .... 44 42'* 44 7 pubilier CAR 64* 6 6 *, Duke Pow 170'* 170'* 170** 5 Durant Motor IS 12 s , 12 5* 2 Dus Co A vtc 2 2 2 802 El Bond A Sh *7% 94 96 V* 1 El Bond A Sh pfd.,.. 106’/* 1061a 1064* 182 El Invest Inc ...... 140 s . 134 1354* 3 El PAL optl war 44 5 , 43 43 22 Em Pow Cor... 54 52 54 44 Evans Wall Lead 17 15*4 17 4 Fabric* Finish ...... 1944 191? 19V, 15 Fairchild Aviation A. 24 221* 23 2 Fall Rlvgr Elec 63 63 63 2 Fansteel Prod IS*/, 13*4 1344 1 Federal Metals ctf... 33 33 33 5 Federal Water A 47% 47*4 47% 4 Fiat stk deb rts 11 11 11 44 Fiat Amer 274* 26% 27% 2 Firemans Fund Ins.. 112*4 111 s , 112 s , I’-Firestone Tire 279 274*4 274% 339 Fokker Airp Am 65 58% 634* 2'A Ford Mot Co Can B n 97 95% 96 15 Ford Mot Co Can A n 60% 58 s , 60% 19 Ford Motor Ltd . 18% 18 18 1 Ford Canada rts 78 78 78 2 Foremost Dairy 1544 1444 1 544 2 Foremost Dairy pfd.. 22 22 22 3 Foremost Fabrics ... 30% 30% 30% 3 Foundation For A... 14 s , 14% 144* 14 Fox Theaf-s A 29 28 s , 29 1 Prank <H Ht Mf* Co 38% 36% 36*4 60 Freshman Chas Co.. 1144 10 s * 114, 3 Game welt Co 75% 75% 75% 2 Oarlock Pkg 23% 23’, 23% 6 Gen Alloys 18% 18 18% 5 Gen Am Inv 86% 85% 864* lOOen Baking 8 7 s , 8 7 Gen Bak pfd 71% 71% 71% 63 Gen Bronze 54 50 s , 52% 4 Gen Cable war .... 31 29 31 48 Gen Elec Ltd reg.. 14% 13% 14 5 Oep Pub Ber 40V4 39% 40 s * 1 Gen Real A Util Cor 19% 19% 19 s . 2 Gen Reel A V Oor p! 9144 914 , 91V, 2 Gen Ft Ink wi 47 47 47 1 Gilbert Bid , 46 46 46 1 Glen Alien Coal .. 126 1J« 126 21 Gold feel Elec 101% 99 I*>l 37G01d Seal Elec n ... 36% 95% 26% 18 Goldberg Stores 91% 91V* 23 5 , 20 Goldman Sachs n .. 107% 106% in 6% 3 Gorham Inc A 88% 35% 35 s , 3 Gorham Inc pfd .... 60 50 50 8 Gorham Mfg 7*44 78 7544 9 Gorham Mfg rt* .... I .87 1 .*» Granite City Stl ... 4* 43% 44 5 Grigsby Grunnw n., 128 126 127 4 Ground Grip Shoe ..37 36'* 37 1 Ground Grlo S pfd.. 37% 37% 37'* 4 Guardian Fire 68 67% 67% 1 Hall Lamp 254* 25% 25*. 30 Hall Printing 32 38% 30’, 2 Happin C St A 3 s * 3% 3% 1 Hartman Tob 30 20 2n 3 Haygart Corp 98% 67*4 6744 9 HazelUne Corp 49 - 46 47 ’.Hercul Powd pfd .. 11744 117*4 11744 2 Heyden Chem 37 36 36 10 Hiram Walk G A W 79 71V, 72 1 Hiram W GfW nwi 2$ 21 21 3 Hormel O Co 52% 52 52 3 Houdaille Hershev A 52% 52% 52% 9 Houdaille Hershey B 54 514* 53% 2 Household Finan pfd 49'/, 49 4944 »Huylar* >tra of Del 26 25 75 1 Hygrade Food Prod.. 36% 36% 36% 5 Imperial Tob 25% 25% 25% 2 Indust Finance ctf. . 36 35V, 35V, *4 indust Finance pfd. 80 80 RO 3 Insur Co N A 81'4 J! 1 * SQ* 7 * I Insur Secur 28 28 28 •4 Ins Share Corp A .. 23 s , 23 23% l Inti Prod 11 11 11 49 Inti Project nwi .... 28'4 23% 254, 1 Inti Saf Raz B 35 s , 35 s , 35% 1 Inti Shoe 66 66 66 1 Intern Util A 42% 42% 42% la Intern Util B 18 17 17% 3 Interstate Hosiery .. 30 s , 30% 30V, 3 Investors Eouity .... 53 51 52% 4 Irving Air Chute ... 38 31 % 37% 1 Isotta Frasch 10 s * 10 s , 10% X Ital Superpow A 16 s * 16% 16;/* 1 Jonas A Naumb pfd. 46% 46% 46** 2 K C Pub Serv vtc .. 77 7 3 Ken-Rad Tube A L.. 27 26 27 4 Keystone Aircraft ... 38% 36 s * 36* 2 Kinney Gr n wi ... 32 31% 32 1 Kermath Ms 16V I*% ’6 s , 3 Kolster-Brandes 6% 64* 64, 6 Lackawen Sec 39 39 29 5 Lake Super C 'B% 18 18 1 Leh Coal A Nav 160 160 J6O SLlbbyMcN&Ln 13% 13% 13% 5 Lily Tulip Cup 20% 20 20 1 Loews war 6% 8% B'.* 1 London Tin rets 16 s , 16% 16% 2 Louisiana Land k Ex 12% 11% 12% '» Ludwig Baum pfd..., 97% 97% 97% 6 Mac Marr Stores.... 35% 35 35% 11 Mangel Stores 36 34% 354, 1 Mangel Sirs pfd 103 102 102 % Manhattan Rub 53 51 53 56 Marconi Inti Mar. .. 24 33% 24 12 Marc Wire Loud B . 20% 80% 20% 9 Mavis Bottling 9% 9 9V« 2 Mav Hosiery pfd.... 85 35 35 5 McLellan Stor A 49% 49 49 20 Memphis Natl Gas.. 15 14% 15 1 Merritt Chap k 8..., 29 28 29 1 Metro Chain Btrs ... 30 80 80 1 Met 5 A 50c Bt pfd., 68 s * 69 s * 69V, 20 Mid West Util 167 165% 167 %M wU is pfd non-pt 97 97 97 1 * Mid W U pr lien.... 122% 122', 132% 2 Minne Hon Reg 69% 6|% 69% 25 Missouri Kans PL... 38 s , 37% 38 s * 1 Mock J V 37 37 37 3 Mohawk Hud Pow ... 57% 55 65 1 Mohawk Hud war. . 28% 28% 28% i % Monsanto Chem ... 158 138 158 5 Montecat deb rts... 3 s , 3% 3% 3 Motometer Gauge .. 93 32 s , S 3 2 Municipal Serv 26% 26 26 1 Nachman Spgfld ... 61 62 62 1 Nathan Straua .... 26% 26-, 26% 10 Nat Aviation 8344 804* 834, 5 Nat Bak 5 5 5 2 Nat Dairy rod pfd A 103 103 103 , 56 Natl Fam Strs 39% 37 39% 3 Natl Fam Strs pfd.. 40 38 40 11 Nat Food Proa B . 10 10 10 1 Nat Groc 10% 10% 10% 3 Nat Rub Maoh 29 s , 29% 294* 5 Nat Bcreen 32 32 33 5 Nat Theater Sup .. 19 18% 184, 1 Nauheim Fh Pfd 19 19 19 JNahl Corp 23% 22 23 V* 6 Nelson H ... 29% 28% 284* 1 Neve Drug COD ... 54* 54* 54, 6 New Haven Clock 25 25 25 1 Nawberry J J 794, 79% >9l, '.New rng rr LHh 91 9 ,L. lift Y Invest V. c, ?tev Volt Mereu— M*- 40 , «* s •i N V Te) Co pfd . lt-% 112% 1 2 ifri-tais S’-v-es 41% 4’. , 4" * Niles r-m Pnd 69% 65% 69}, Nome ........y 2J-* 23 c 23 tvs w»i- /,m*r Aslfiong, 18 1“'» 17% 6 ?7crth Am Utility Bmi 16% 16 s * 16% IN-r Am T’t 1 OfdT Jf- jo .5 26 31 L0t..1 EasUrn Pow.. 51 s * i.o4* 51% THE EVEyiXG STAR. VrASHINGTOV. D. C„ THTRIDAT. IfAT 9. 1029. II Nor Sta F A 115% 164'. 164'* 1 Northam War pfd... 45 45 45 1 Northwest Engrg .... 37% 37V* 37% 2 Novadel Agne 24% 24', 24', 8 011 Stocks A 16 s , 16 18% 5 Orange Crush 27% 26 28% 1 Ontario Mfg Co 39% 39% 19 s , 5 Outboard Motors A. 214* 21% 21'* 19 Outboard Motors B. 14', 11% H% 4 Param Cab Mfg .... 30% 30 30 1 Parmelee Trans .... 25 25 25 , *, J C Penney A C 0.... 360 351 359 % J C Penney pfd 99 99 89 I >,J C Penney rts 380 230 230 1 Penn O A El A 21 s , 21 s * 21% 46 Penn Ohio Ed 71 s * 69% 69% % Penn O Ed 6s pfd.. 93% 9.1 93% 1 Penn O Ed p pfd.. 104 s , 104 s , 104 s, 3 Penn O Ed Op war 46 45 45% : Penn Ohio b. 21 s * 21% 31% 67 Penn R R rts wi. . 23% 23% 23 s * l.i Penn R Corp vtc wi 20% 20% 20V, 2 Penn Wt P C 86% *6 86 4 Peop Drug Store .. 80', 80 80', r Peop Lt A P Corp A 47 44% 4, 13 Petrol Corp 1 pfd.. 29 s , 28% 29% '.Perryman FI wt... 26 s * 35% 26% 13 Philip Morris .2% 2 2 Phllipne 'Louis* 8.. 31 30*, 31 9 Pick Bar A Co pfd .. 15 15 16 7 Pitney Bowes P 25 24% 24% 8 Pitts PI Olase 71 69 s , 70% 21 Pitts Scr A Bolt 26* * 27 5 , 28 1 Prop Silk Hos Mil... 33 47 Prudential Inv Inc... 27% 26 s . 27% % Pug BPAL pfd 99*a 99% 99% 1 Pyrene Mfg 8% 8% B’, 6 Ravbestos 89 83 s , 88 s , 4 Rainbow Uni 18% S 3 33 7 Reliance Bronze Btl. 23', 33 23% 8 Repetti Candy 3% 2 2 8 Railway Exp Co n 58% 58% 58% 1 Rep Mot Trk etfa 3% 2 s , 3% 1 Repetti Candy cash. 2 2 2 2 Reynolds Metal 4444 44 44 6 Reynolds Met pt pfd 75% 75 76 1 Rich Inc '82% 329* 32% lOßoch Cent Pow 43% 43 43 % Rolls Royce pfd *4% 53*, M’, 5 Rolls Royce Ltd 114* 134, 12v, 2 Roosevelt Field 15 14% 15 1 Root Rfg Cv pr pfd.. 26*/a 28% 26'/a 1 Ross Stores 77 7 1 P.ussek* Fifth Ave... .15 35 35 ’.Safe C H A Lt 206% 3064, 206% 2 Safe-T-Staf .12 11 S 3 2 Base-T-Stat COD 32 31% 31’i llgt Regis Paper US'* 131 135 2 Schletter Zanders... 34% 24 34% 1 Schletter Zanders pf. 44 44 44 1 Schulte Rea! E5t..... 21 21 23 2 Schulte tin pfd 70 70 70 2 Schutter. John C A.. 10 10 in 4 See Gen Am Inv 30 39% 30 44 Selected Industr Inc. 24 33% 33% 2 Select Jnd Inc pfd... 95 95 9* 57 Sentry Safety Control 34'* 21 24% 51 Se.-v El vtc 19 s , 19% 19% 2 Serv El vtc pfd 79 79 79 2 Sharon B*l H00p... IV* 1% 1% Sherwiu Wm» Co 93 93 93 3 Sierra Pac E 50 s * 50 50V* 9 Sikorsky Aviation 50 49 49 s * 17 Silica Gel rtfs 39% ?8 58% 1 Silver I A Bros 72V, 72 s /* 72 s * % Singer Mfg 585 SMI 586 2 Skinner Organ 45V* 45 s * 46% 2 Sonatron T 38 36 36 207 Southeast PAL.... 96 90 92% 1 Southe P A L vtc ... 87 87 87 91 Southe P A L war .. 46 s * 44% 46% 2 South Asbestos 33% s3'* 3.1% 4 ftiuth C F H pfd ... 25% 35% 25’* sSouth C E C Pfd.... 244* 344, 844* 2 Sou Royalty 18 s , ir% 18% 3 South tv Dairy Prod ..1* IS 16 2 Spanish A Gen rets.. 4% 4'* 4', 1% Stand Inv pfd 98V* 98 s , 984* % Stand P A L pfd .. 100'* 100% 100'* 1 Stand Stl Prop 374* 274* 374, ISStarrett Corp *9 29 29 2 Stein A Co pfd 93 93 93 17 Stein Cosmetics .... 23% 31% 22% 5 Sterehi Bros Stores . 28 s , 39% 28 s , 9 Sterling H*c pfd allgt 32 31% 32 '.Stetson JB 16% 85 88% 1 Stinnes Huge 16% 1644 1 04* 37 Stromb Carl Tel .... 35% 33 34 s . 2 Stroock Co 42% 42 42 1 Stutz Mot 18% 16% 18% 4 Swift Inti 32V, 524* 32% 1 Swift A Co 329 *29 45 Svra W Mach 22 s * 21 22*. 4 Tampa El 614, 63% 63*, 8 Thomps Prod A .... 63% 60% 60% 1 Tob Prod Exp f% ?** 24, 2 Todd Shin 644* 63 83 8 Trans Am 140% Ho'/« 140', 31 Tranacon Air Trsp 30% so 30 , 15 Tran* Lux D LP 8 A 15 14% 14% 6 Tri Cont Cor 32% 32% 12% 4 Tri Cont Corp pfd... 104', 104 104 4* Tubl Art S B 380 370 380 1 ?uns so?L L A mp :::: M p 2 Union Am. Invest ... 58% 58% 58% 2 Onion Carbide pf.... 98% 98 98 2 Union N G Cai\, .... *1 41 41 2 Union Tobacco 11 io% 10% I Union Traction 37 s * S7t, 37V* 1 Uni Carbon vtc 69 s * 69 89% 2 Uni Carbon rt, 2% 2 2 6 Unt Chem pr pfd ... 45% 44 45% 1 TJnl Drydrgtk 17<, 17% 17% 11 Uni Elec Bond rt*.... 3% 24* 2% 1 Uni Elbe Ser n 18 18 18 21 Uni Gas Co 36% 35% 26% 28 Uni O Imp C 191 s, lie 190% 534 Uni Lt A P A 41% 394* 40 1 Uni L A P A Pfd 98 99 99 6 Uni Piece Dye Wka... 41 40 40 5 Uni Porto Rican But. 49 ,48% 49 1 Uni Shoe M C 69% *i9% 69 s . 1 U S Asbesto* 41% 46'., 411* % U 8 Finish 96 96 96 1 U 8 A For Bee ...... 41% 41 s * 48 s . 34 U S Freight of DtL.. 97% 994, 97% • U 8 Oypsum 69% 17 68 BUS Lines 17% 17% 17% IU i Rub Reel 25 34 34 4 Universal Aviation ... sl% 304* 21 2 Universal Aviat COD. 11 2] 3i ' * Univ Ins 744* 44* 744* 2 Univ Pic C.. ; St 28 38 2 Util P A L ctf B 46% 46 464, 3 Util P A L etf m 33% 23% 234* 14 Util Bhar 344? S 3 33% 3 Van C Pkg 37« J 37 37 1 Van C Pkg Pfd 38 36 28 7 Waitt * Bond A 36 264* 28 31 Walgreen 90 s * 88% 90 7 Walgreen war 84 s , 62 68% 2 Wataon J W 6», 64, 64* 4 West Auto Blip A,.,.. 54 s , 54 54 4 Western Air Exp. sl% 674* 684, 6 Western Air Exp rt* *4, 5 54, 16 Westvaro Chlor rts... 4 3 s * 4 15 Whltenight Inc 84* 5 5 6 Williams <R C) A Co 314? 30% 304, 31 Wll Low Caf 35% 24 38% 3 Wll Low Caf pfd... 51% t\ 31 9 Winter B J 154* 14V* 14% 12 Yellow Taxi 35 31% 35 4 Zenith Radio 41V* 40% 41 Bale* MINING BTOOKB. in hundreds 80 Ariz Globe C 4* A 4* 1 Bunker Hill ....... 143 143 143 5 Com Tun A Drain jl 11* 1 14* 2 Con* Cop Mine*..,. 12% 12% 12% 2 Cressen Con Geld.... it if 11 12 Falcon Lead Min--.. A % % 1 First Natl Copper... % % 4, 7 Gold Coin ..... I‘* 14* 1% 3 Golden Center M... 7 s , 7% 7% 7 Goldfld Cons % 4, 4* 4 HollWer Gold 74* 74* 7% 11 Hud Bay Min A 8m 18% 18 16 1 Iron Cap Copper 5 44* 4% '■i Mason Val 1% 14* IV* 16 Newmont Mining 310% 2054, 210% 4 N J Zinc n 80% 80% 804* 1 N Y A Hond Rosar... 18 18 18 SNipisting 3 3 3 32Norande .......... . 58 s*4* 574* 60 Norands rts 40 .19 .40 36 Ohio Cop Si* J 24* I Premier Gold M ~,. 2 3 2 4 Roan Antelope Cop . 4t'« 45% 464* IRoan Antelope Co rts 2% 2% 24, 12 Bhattuck Denn 18 17% 17% 5 St Anthony Gold A % % 1 Tech Hughes 6% |'i 9% 2 Uni Esst Min % % 15 Uni Veide Eat 17 s , If * 17% 44 Unity Gold . ........ lii l% it* 1 Utah Arex 4'* 4% 44* 5 Utah Metals 14* 14* IV, 31 Wendon Cop 11, 1% 14, 8 Yukon Oold li |J % Sties In INDEPENDENT OIL BTOCKS. hundreds. 26 Am Con Oilflds 4, % % 6 Am Maracaibo Co 5 5 5 ,jcarfb < syid Sij Jvj 5i2 34 Cities Serv 118% 115 s , 116 52 Cities Serv n 29% 29 294, 2 Cit Berv pfd 984, 97% 984* 4 Columbia Bynd 1% IV* 1% ‘Cons Royalty 7% 7% 7% 14 Creole Pete .... |% 84, 84* 1 Crown Cent Pet# 1% 1% 14, 2 Derjv Pete . 15% 15 15% 4 R * f 3** 3 s , 19 Gulf Oil Pa 1634* I*o', 111 1 Homaokla Oil ! 4 s * 4% 4V, Houston Gulf Gas.... 18 s , 184* 184, 104 Intercont Pet 5% 3% 24, Hr l 4 6 Lion Oil 58% 37 374* 18 Magda I Bynd ,\ % 4, 2 Mex Ohio s 7 d .... 8 5 5 ' 28 Mex Seaboard Oil rt* 44* 4 s # 4% ' 7 Mount Prod 17 s * 17% 174a 2 Nat Fuel Gas 25'? 25% 35% 1 8 New Bradford O 4 4' 4 7 New Mex Ariz Land.. 84* 64* 64* 3 Nor Oen Tex Oil 11 11 11 3 Pac Western Oil 181* 18% 184* ' 2 Papdem Oil 24* 2% 2% 5 Plymouth Oil 254, 34 4, 254, 1 2 S^ i L fr A I '9. st .* r P' l •••• 5% 6% *% 1 .5 Rich O Cal Pf , 25 25 35 17 Royal Can OAR... A 4* A 4 Salt Ck Prod. 20 19% 39 2 Texen Oil A Land n. 214* 204, 214* j 2 Tin os O non-vt .... 14V, 14', 14% 3 f ransc Oil pfd 108 107 101 5 Venezuelan Pet 44* 4 s , 44, 1 2 Woodley Pet 5% S’-? 54, 1 3 "Y’’ Oil N . 344 2% 2V, Sales BTANDARP OIL ISSUES ANP FOR l'n units. MER SUBSIDIARIES—STOCKS. 1700 Anglo Am Oil 15 15 15 300 A A O non vtc 14% 14% 144, 100 Borne Scrym n 41% 41% 414* 100 Buckeye P t 70 s , 70% 70% 100 Ohesbrgh Mfg 169 s , 189% 1694, 1300 Conti Oil 23 23 s , 224, 800 Humble O A R 120 118 119 50 111 P L 339% 339 339 1100 Imp G Can 117 s , 1154* 1154* 1 900 Imp O Can wi 294, 294* 29% • lOOIndPL 92% 924 , 924, 200 Inti Pet n wl 27 27 27 | 300 Inter Pet Lid 534, 53 *34* 600 Nat Transit 34 3*4, 21 100 N Y Transit |4% 84 , 344* , 301 Northern P L n 10 59 s 4 60 300 Ohio Oil 704, 70 70 ion Solar Refln n 484, 43% 43V, 500 South Penn 6 68V, 564, 66% 100 Southern P L 31% 21 21 1 7200 S O Ind 89 614* *B4* ; 200 8 0 Kansas 19 19 19 600 8 O Ky n 39% 39 394, ; 100 8 O Ohio 116% 1284, 138% , 100 Swan A- Finch 15 15 15 800 Vaeuum Oil 194 1134* 134 Sales BONDB. t,i thousands. 5 Abbott Dairies 6s '43 100', 109% 100% i 10 Abitibl P A Ps* A 53 16% 86 93 55 Ala Pow «%s '67... 934, 93% *3'; 5 Ala Pow 5s 56 PS’* 73% 93% 1 Allied P!- Ss '39 50 30 50 I ‘ 4 Allied Pk 8s '3B aid. II 13 13 5 xic »s '3' O"D 'l' . "" 11% I 1 1 Alim Ca Amrt »a .42 ii'l >, ill M 1 Am Ait re Co.' u» 13 10/ 107 ' .*mn Ctmmw 6' ''9)o' ini% i ‘Am Gas A El 5s 33£'t. 95 i P 5% 'Am Fw A L' *' *«%. 1*5% 10"' ! Am Ri| Mill •’» '46.. li7 86'» MiV. 7 Appal El Pw 64 ’39... 99 s , 98 9 s ■A A.rk Pi L S« '59 I#’« 95 2As to Gas A E 4%* 46 13* , 111" i ' “7 A»?r- G A E '■',}■ '77. 11l lin 11 {At CAE 51/aa V7 aid 110 110 110 BAn Gil 4%S 4* ww112% 111% 112% UIOiKV,. '77*1... IIJ 113, lU, 3At 81m Hard B%s 'IS *6'j» 88% 86% 4 At! Fruit 8t '49 16% 18% 16% 1 AtUt fIFW 5%S 43 #0 BO 90 SBitn Vil Bit 6s '42 103% 103% 103% I 16 Bell T Can 8s A 55.. 101'. 100% }60% j 15 Bell T Can 5i B '87.. 160% 100‘. 160% 42 Bell T Can 8t B '57 n 100 H 100% 100% 1 Cap! Adm Co Bt '53. 93% 08% 96% 3 Caro PALS* '56. 09% 99’t 09'. 17 Caro P A LSt '56 new 09% 99 90% 13 Cent States El 5* 48 87 8f.% 86%. ICt Sta P A L B%s 53 90% 90% 90% 10 CM Pit Tool 5' -* '42 98% 98% 98'. 5 Chi Rys efs drp 5s '27 82% 82 82 5 CHllds 6s 53... 87% 87% 87% 3 CiS St R H 5%s 49 A 94% 94% 94% 1 Cln St Ry s'a* A '52 95 95 05 SClt Serv 5t '66 . 88% 88 88% 37 Cit Srv Pw 5%s 52 94% 94% 94% ICI El Ilium St A 54 102% 102*4 102% 19 Col R Lev Br B%s 53 PS 93 93 1 Comw Ed 4%s i) 'B7 96% 96% 96% 5 Con* Tea 8t '4l 88% 88% 88% 6 Conti O ft E 8e A 'BB 88% 88% 88% 1 Conti Oil 5%t '37 95 95 98 3 Denv A Balt L 6s 60 80% 80% 80% 1 Pat City G 6s A '47 105V* 105% 108% 2 Del Inti 6%* '52 .. 89% 89% 89% 1 Det Inti 7* '52 •.. . 80 80 80 I Dix Onlf O B%t A '37 80% 80% 80% 6 Empire OAR sy»r. 42 91 90% 91 7Flre*t Cot Mill 6* 48 92% 91*. 91*4 7 Firestone TAR 5' '42 94% 94% 94% 5 Fisk Tire 5%* '3l . . 94% 94% 94% 3 Fie P A L 5s '54 .91 91 VI 3 Gatineau Pow 5s '56 95% 95% 95% 10 Sen Laun M B%s '37 100 100 100 1 Gen Vend 8a '87.... 74% 74% 74% 62 Georgia Pow 5* 67 .. 97% #6% 97 68 Gulf Oil Pen 6s '27.. 100 99% 99% 8 Gulf Oil Pen 5s '47.. 100% 100% 100% 12 Oulf stet Ut 8t A 66 94% 94 94% 6 Hood Rubber 5%s '36 71 iO% 71 2 Hood Rubber 7s '36.. 85% 88 $5 5 Houst Gulf O 6%s '4B 8fl‘» 86% 86% 6 lious Gulf G 6* A '4B 87 88/a 86 a 3 111 POW ft L 5%l '54 B 99'a 90% 90% 67 Ind Oil ft Gas 6s '39 120% 118 118% 2 Indian F*L 5s A ;»7 98 97% 97% 5 Inti Pow Sec 7t E '57 96% 96% 06% 7 Inti Sec Amer 5s 47 88% 88% 88% 26 Inters NG 6s 'B6 ww 102 102 102 2 Interstat Pow 8s '57 93 92% 93 3 Intersta Pow 5* '57 n 93 92% 93 1 Interstat Pow 8s '52 91% 91% 91% 5 Inter Pub S 5s D 56 97% 97% 97% 2 Inves BASh 5s A'47 105 105 105 8 Invest Cor A 5s A '47 96 95% 95 a 9lnv C A 5* A '47 WW 95 95 95 lKans OAE 6s A 2012 102% 102% 1«2% 3 Kelvin Corp 6t '36. 76% 76% 76 .4 5 Kop G & Coke 5s 47 98% 98 93 0 Lehigh P 6s A 2026 103% 103% 108% 1 Libby McN AL 5s 42 92 % 92% 92% 8 Lone Star G 8s 42 98 98 98 1 Long Isl Lt 6s 45... 104 104 104 49 Louis Pow A L 5s '57 #2% 92% 92 4 1 Manlt Pow 5%s A 'sl 99% 99 4 99 4 4 Mass Gts 5%s '46... 103% 103 « 103 » 5 Mem Nat G6s '43 .. 97% 97% 97% 30 MECo Pa 4%s»D 68 96% 96% 96% 6 Minn PAL 4%* 78.. 90 89% 90 6 M L H ft P 5s A 'sl 99% 99% 99% 6 Morris ACo 7%s '3O 100 90% 99% II Narrag El Co 5s A '57 98% 98,» 98% *N Strauss Inc 6s 38 100% 108 109% 37 Nat Pub Ser 5s 78.. 81% 80% 81 » 1 New Eng GAE 5s 47 92 92 92 1 New Eng GAE 5s '4B 90 90 90 36 N Y P ft L 4%s '67 . 92*» 92% 92% 4 Nor Ind PS5s C 66 99% 99% 99% 2 Nor Sta P M 6%s ;33 101% 101% 101 a 5 Ohio Pow 4%s t> 56 91% 91 4 91 4 10 Ohio Pow 5s '52 B . 100 99 * 99.4 2 Oswego Falls 6s 41.. 81 81 81 1 Pac G ft E 4%s E 57 95% 95% 95% 16 Pac Wm Oil 6%s '43 95% 95% 95 a 9 P O E 6s A 50 WW 100% 100% 100'.4 7POE 5%s 59 8... 94 94 94 1 Phila E 5%s 83 105 105 105 6 Phila E P I%S '72,.. 103% 103% 103% 9 Potomac Ed 5s E 56. 97'4 96% 96 < 5 Pow Co N Y 5%s '47 94 93% 93% lORel Bronre Stl 8s 44 99% 99% 99% 25 Richfield Oil B%S '3l loot, 100% 100% 12 Roch Ce Pow 5s A 53 86% 85% 86% 4 San Anto P 8 5s B %8 95% 95% 95% 6 Schulte R Est 6s '36 xd 87 87 87 1 Betvel Co Del 5s 48. 81 81 81 4 Shaw WAP 4%s A '67 92% 92% 92% 9 Snider Park 8s 22 9V» 92% 92% 3 Bouthe PAL 6s A 2025 108% 103% 103% 9 Sou Cal Ed 5s 'sl .. 101 100% 100% T Sou Cal Ed 5* '52 .100% 100% 100% 11 SouthW GAE Is A '57 05 04% 94% 8 South PftL sis A 2022 101 % 101% 101% 4 Staley Mfg 6s '42 98% 98% 08* 4 8 Stand PftL 8i '57.... 97% 97% 97% o Run Oil s’jS 30 ... 100V* 100V* 100 I ,* 26 |w?tt ft Co 6S '32... 100, 99% 100 PTexas ft P 6s ;79 ... 97% 97% 07J. 7 Tiysi Oa*> It 48 ... 01V* 32 1 i 02 Va 4 Uni Am Inv 6s A ;4J 104 IOJV4 103^4 7DM Ltftßail 5%s '52 90% §O% 90% 18 U S Rub 6%a 80.... 99 99 99 1U I Rub 6%S ’11.... 09 99 99 It 8 Rub 6%* '32 ... 09 09 90 5 0 8 Rub B%s '33 98 % 98% 98% Ist lilt;:: |*H" 10 Util PftL 5s '6B ... 98 98 98 BVa ElscftPwo 5s A 55 99 98% 98% 5 westv Chlor 5%s '37. 101% 100 101% 12 Wetsn Pow B%s A '57 122% 122',4 122% Sale* in FOREIGN BONDS. thousands .. 10 Agri Mor Ba 7s '48.. 94 04 04 4 Agi*t Mor Ba 7s 47,. 94 94 94 2 Baden 7s 51 ....... 94,. 94 94 13 Bank Prussia 6s 30.. 98 96 18 Berlin C E 6%j 'SO . 91% 91 .91 7 Buenos Aires 7s 62 100% 100 .00 • 1 Bueno* Aires 7%s 47 101',4 101% 101% 10 Cen Bk Or Bt 6* B '6l 05 85 85 1 Com ft Pr Bk S%* * 7 §5% 95% <*% 1 Cuban Tel 7%s A *1 10* 100 189 2 Elec Pow Ger 6%s 83 92 92 92 1 Bur M ft In ■»»*■ A 60 07 97 97 12 Bur Mftl7sC 67 .. 90 89 JO 1 Flnld Res Mtg 6* 61 86 86 86 1 Frankfort *%s 83... £1 91 91 9 Free Bt Prus 6» '52 .. 88 86 j 86 5 Galsen Min 8a '34. .. 80 88% W 24 Ger Cons Mun 7s 47 96 08% 95,2 7 Ger Cons Mun 6s 47. 85% 86 85% 1 Guan ft WRR is A 'SB 83% 83% 84% 2 Hamburg E7« '35 ... 90 90 99 1 Hanover Stat *%s '49 91 91 91 lPltal Superpow 6s 'B3. 78% 77% 77% 6 Jugoal it M B 7s 87. 77% 77% 77 % 3 Lima Rep P 6%s 58. 89% 80Va 89,a 9 Mendoxa 7%* 51.... 97% 96 98% 6 Mor Bk Bog 7s '47.. 90 90 90 21 Mor Bk Chile 8s '31.. 97% 97 97% 5 Mor Bk D 5s '72 lx.. 03% 98% 96% 3 Muni Model 7s E 51. 97 97 97 5 Nippon Elec 9%s 83. 86 80 80 3 Parana 7s 'SB 87% 88 87 s Potrero Bug 7» '47 ww 70 70 70 6 Rio Grande 7l ’67 . 91% 93% jgV« 1 Ruhr Oas 6%s A 58. 82 82 82 15 Rumania Inst 7s 59. 84% 84 84% f> Russ Oov 21... 14V* 14Mi s slssßi2:Xs ßs 1 h !‘ 47|tl B nne? r H 7s* 16 wa |a% 91% jlVe 1 iw"s" e Oe”t W' 00% 99Ja H% 15 Uhl Elec B 7s A 56. . 116% 116% 116% 1 Oni Ind 6%* '4l. . . 85 85 85 1 Dnl St W %S A '47. 85 85 85 xd—Ev-dlvldend wi—When Issued. n-r-New. ww —With warrant*. COTTON CLOSE IRREGULAR NEW YORK. May #. (Special).—Re port* of rains in West Texas, prospects for clearing weather in the Eastern belt and weakness in grain evidently over shadowed bullish features in the cot ton market today. Rallies from an opening deeline were followed by re newed weakness. Late fluctuations were rather irregular with the close 1 to 7 points lower except March, which was 3 points higher. The spot market was unehanged at 19 60. Open. High. Low. Close. May 19 *8 19 42 19.25 19.34 July : 18.57 18 87 18 46 18 54 October ....... 11.85 18.75 18 63 18 68 October. neW.... 16.60 18.70 18.53 18 62 December 18.72 18 86 18 70 18.7r> January .. .. .. 1* 75 18.93 10.73 10.00 Mtreh ISM 19 07 11.07 10 00 . . *.. SHOHT-TERM SKCURITIES. i Reported »9 J is W. Bellgmtn ft Co > Bid Offer Allls-Chxlmers Co. 5s 1937..... 90% 100 Aluminum Co of Amer. 5* 1952 161 101 % Amir. Tel. ft Tel. Co. 4* 1929 99% M% Baltimore At Ohio 4%* 1933.... 07% 08% Batavian Fet. Corp. 4%a 1042. 81 a 02% iWf^i.°W fc «r*p # l3 B 5 S 9ii: 100% 101% Wr. W i?: 8??: II Clteia. ft Ohio Rwy 4'/a* 1030. 99 90>-a Chicago Rock Island 4s 1934.... 94 94% Chile Cooper Co. 6s 1947 98% 96 Cudahy Packing Co. 5%s 1937. 96% 97% Edison El. 11. Boston 4%s 1030 od% 00% Gen. Mot, Accep. Corp 6s 1937. 101% 102 Genera! *#t. Corp. 6s 19*0 100' i 101% Goodyear T. ft R. 5s 1957 927, 03% Mrsnd Trunk Oanad* <s 1936. in.*', 104% Gulf Oil of Pa. 5s 1937 100% 101 Humble Oil 6%s 1932 100% 101% Ir.ternat. Match Coin. 5s 1847.. 97 97% Oregon Short Line 4s 1929 98 % 99 Pure Oil Corp. 5%s 1937 98% 08 3 4 Shall Union Oil Co 6s 1947 . . 97 977a Sinclair Crude OH Co. 6%* 1038 96% Standard OH of N. J. 5s 1946 . 101% 102 St L . Ir. Mt. ft So. Rwy 4s 1029 99% 99*. 8t 1,.. South ,>.c*frn Ry. 4s 1982 9* % 95% Swift ft Co 5s 1932 99% 100 Union Oil Ce. of Calif 6s 1035. 97% 98 United Drug Co. 5s 1953 95% 96% Western Electric Co. 5a 1044 102% 103% Wheeling Steel Corp. 5%* 1048. 98 90% GERMAN BONDS AND STOCKS. NEW YORK, May 9 (Special).— Bid. Asked. Gar Govt Red Loan with drawing clfs attached per 160 R M.... 65.00 60 00 Oar Govt Red Loan without drawing ctfs per 1.000 R 'f.. 21 00 30 00 (Quoted in dollars per million marks) Hamburg 4%* 1919 25.00 35,00 (Quoted in dollars per thousand marks.) German Gen Elec 4%s pre-war.. 23.06 25.00 German Gen Elec 4%s 1919. .. 225 3.00 Berlin 4* pre-war 8 00 6 00 Hamburg 3s. 3%s ft 4s pre-war.. .15 30 Hambutji American Lina 4%a... 31 00 33 oo North German Lloyd 4%s 31.00 31 00 Krupß 5s 1931 1.25 200 Dutseidorf 4s pre-war 18 .25 Crankfort a-M 4s pra-war 18 .25 ;unieh 4s pre-war 15 .25 tQuotad in dollar* per share.) A I O (German Ge Elae) 38 no 40 00 AEG (German Oa Elae> pfd B. ono n.oo Commerz and Prlvat Bank 44.60 48 on I O Farben 65.0a 57,00 t Disconto Oellsehaft 38 00 33.00 Berliner Handels 49 00 51.00 i □rasdner Bank 37 00 59.00 I Deut»r>’* v-nv Suno 4000 pa-1 >■ 80.00 82 00 fie. Bon io.no 1 V* ev ' 2.50 4.00 i: io on 12 no : ' . - i . • • 3.00 8.80 ; ’**(, . K .8 J 9.00 22.00 I r r* ’US' Cf ho 3 31' ; V of flow : r c ' f; -sti *nd hsftvy raowfr Crnn-s h-i to its annuo' i March Battle of Mowers this year. i MERCHANTS PLAN I FOR HEAVY SALES | | : Millions to Be Spent in Con nection With Approaching Sport Events. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK. May 9.—Coming sport ing events cast their shadows before, and consequently merchants are scram bling to get into the shadows. For hundreds of millions of dollars will be spent, in various ways in connection with four sporting events within the i next month. These are picked out merely because their size and prominence make them ' excellent illustrations ox the effect of | sport on business, although the aggrr i gate spent on the minor events in mat Ume will be fully up to the totals for the "big four.” All of these events are connected with racing. More than 50.000 people gather to see the running of the Preak ness stakes at the Pimlico track in Baltimore. This will attract the best dressed men and women of the east, north and south. Thousands of dollars will be spent in gasoline and tens cf thousands In railroad fares to get them there. Nearly every woman who attends will have either a new frock, a new hat or some other piece of new weaimg apparel, since the gathering means a display of feminine styles as welt as equine speed. It is conservatively estimated that $25,000,000 will be wagered on this race, although all of lt will not go through the pari-mutuel machines at the Pim lico track. Whether or not betting is wrong, morally or economically, it will put a large sum into circulation and somebody will spend a great part of it even if their spending curtails the ex penditures of the losers. This will be felt all over the Nation, for wagering is not confined to those who attend or those In nearby cities and States. The Preakness will be followed on May 18 by the running of the Kentucky Derby. Conditions at Churchill Downs will be similar to those at Pimlico but to a heightened degree. Nearly twice as many people are likely to attend since the pilgrimage to Louisville, Ky.. to many in the south, east, west and middle west is like the journey to Mecca to a devout Mohammedan. On Decoration day, the motor will replace the horse In interest and at least 150,000 people will go to Indian apolis to see the great automobile race which has become a classic in world sporting events. The gathering there probably will not be so "dressy” an occasion as the two out'ined above, since more people will come in motors, but even here the apparel sales will experience a decided kick forward. The betting will be confined to individual wagers between friends to a good extent, but the aggregate sum spent will be enormous. There are some 30.000 Americans new in Great Britain and all who can do so probably will make an effort to see the running of the English Derby at Epsom Downs on June 5. BY KENNETH S. VAN STRUM. NEW YORK, May 9 —Profits in the meat-packing industry vary widely prin cipally because the prices of Its prod ucts fluctuate so unpredtctably. This is accentuated by the fact that the margin of profit in the industry is small and that most companies are heavily, Capitalized. The meat packers are wholesalers as well as packers. They carry large in ventories, for which they need consid erable sums of money to handle cur rent. business. Most of them borrow heavily at the banks or in the open money market, and in addition have large issues of bonds and preferred stocks outstanding. Because of the heavy interest charges, the fluctuations of earnings on the common are very erratic as conditions in the industry change. Armoor Heavily Capitalised. With its acquisition of Morris dc Co. in 1923, Armour became the largest of the “big four” Chicago packers. The present company, like the other large packers, is an ougrowth of a business established many years ago. Directly or through subsidiaries it now controls 28 packing and cold-storage plants; a large number of by-prpduct plants for the manufacture of such products as scap, glue, sandpaper, curled hair and leather; 29 fertilizer plants; a fleet of , 5 A.MOU* ■|| ||l| l| l | 20 i nr I* l3 10 llhlll'l CUDAHY . ~ "Hi,;- eo SOji'^uM —f- ' — iEIEt i , -f.|3o J IQ rillG 11., 111. Mill nmllll 1927 1 1928 1 refrigerator cars, and all the other fa cilities which go with a completely in- i tegrated meat-packing unit. Armour's earnings fluctuate widely because of the need to build up large inventories when cattle are brought to market and to hold them over until such time as the demand for meats arises some months later. In this re spect Armour rpsembles all other pack ers, but Armour's earnings fluctuate even more widely than most because of its heavy capital structure. Whereas net earnings have fluctuated between 10 and 30 million in the last seven years, earnings on the A common have fluctuated between a loss and a $2.51 profit. About $11,000,000 is needed each year to pay bond, note and bank interest, in addition to the $9,000,- 000 required to pay dividends on the preferred, which Ls cumulative. The company must earn more than $20,000,- 000. therefore, to cover these fixed charges. Last year, eamings of about 22 mil lion showed $1.13 on the Class A com mon. which is entitled to s2—before the common is paid anything. In 1927, •arnlngs on the A showed a loss. Earn ings on this stock depend, therefore, to an unusual extent on the trend of meat prices, a very unstable factor. Dividends have been erratic and at present no dividends are*being paid, Wilson Earning! Fluctuate Widely. Wilson ds Co. is about one-fourth the size of Armour. In addition to the usual subsidiaries held by a genera] , packing house, lt does considerable ! business in Europ?. In a reorganization in 1926 the com- i puny's capital structure was somewhat: improved, although it still has a large I issue of bonds and cumulative prefer- ! red ahead of the common. In addition, I ihere is an issue of A stock entitled to j $5 dividend before the common gets ! ,mvt|»in§. Swift recently declared some back dividends on the preferred and ls mak ing strenuous efforts to keep up dividends on this issue. Earnings, how- | ever, must increase to more than $5 on the A stock before the common will ; receive anything. Since 1922, the com pany has shown earnings on common only in 1926 and 1924 and dividends on that issue seem quite remote. Old Dutch Cleanser. Cudahy is fortunate not only in hav ing a comparatively Simple capital set up. but also in that its widely advertised "Old Dutch Cleanser" is the largest jelling cleaning powder on the market. I It is said that Cudahy's relatively stable earning power is due in no small measure to this one product. Cudahy has two issues of cumulative preferred and an issue of bonds ahead of the common. This last year bank loans have been increased quite sharply | due to plant expansion, but part of this | money is to be repaid through tti issue of rights to stockholders. In only one of the past 40 years has Cudahy failed to earn a profit. Average earnings exceed present common divi dend requirements by a good margin. At 54. the stock, paying $4, yields 7.4 i pier cent, which reflects the wide fluctu- I ations in karnings characteristic of the industry. Since earnings for the last ; six years average $5.74, however, the i dividend seems safe and the yield is decidedly better than is available on many standard industrials. Swift Has Fewer Debts. Swift & Co. is the second largest meat packer. It also has the simplest capital structure of any of the big four, with $84,000,000 bonds, notes and bank loans ahead of $150,0000,000 common stock. Its loans carry a low rate of interest so that the company has been able to show good earnings on the common stock each year. Swift has shown steadier earnings than any other packer. In the last sev eral years it has never failed to earn its $8 dividend, and averaged earnings have been $9.30. The stock is selling on the crub around 130, at which price it yields 6.1 per cent and sells at about 13 times last year's earnings of $9.87. i Cudahy, for comparison, is yielding 7.4 | per cent and selling at about 12 times ; earnings. (Copyright. 1929.) Jor every room Devoc Velour Ritiskgives your walls the loveliest soft finish you have ever c010r5.... easy, to put on!??! costs 'surprisingly, little? JML M Paint & Gins* Co. wm SmJW I239 Witcuiin Ato. N.W. George E. Corbett E. B. Rector E. C. Dunham John Sawyer W 2206 Rhode laland Are. N.E. 1917 NichoU Ato. S.E. m Eckington Hardware Co. Thomas A Co. ■ 111 Florida Aye. N.E. Gaithersburg, Md. m Leadbeater Drug Corp. Washington Paint A Glass Co. I Alexandria, Va. 3205 14th St. N.W. M v^-— DEVOE Private World Go Round the World as you please. Marseilles, New York and Boston. Make your own plans. There is time Every fortnight an American Mail for sightseeing at every port during Liner sails from Seattle and Victoria, the regular stay of the ship. At any B. C., for Yokohama, Kobe, Shang port that particularly interests you, hai, Hong Kong, Manila and Round stopover for one week, two weeks the World. or longer, continuing when you are Fortnightly sailings of Dollar ready on a Liner exactly like the one Liners from New York for Califor on which you started. nia via Havana and Panama. Go Round the World on one ship You sail aboard a magnificent Pres in 110 days or, if you like, take the ident Liner. Broad, glasrf-enclosed entire two years allowed by your decks. Your room is outside with ticket. There is no other service which beds, not berths. There is a swim permits such freedom of travel. mingpool. Public rooms are spacious Every week a palatial President and beautifully appointed. The cui- Liner of the Dollar Steamship Line sine has for years been a favorite of sails from Los Angeles and San Fran- world travelers. cisco for Honolulu, Yokohama, Kobe, The entire trip, First Class, includ- Shanghai, Hong Kong, Manila, Sin- ing transportation, meals and accom- \\rW gapore, Penang, Colombo, Sue 2, Port modations aboard ship, costs $1250 Said, Alexandria, Naples, Genoa, and up. COMPLETE INFORMATION FROM ANY STEAMSHIP OR RAILROAD TICKET AGENT. < DOLLAR STEAMSHIP LINE AMERICAN"MAIL LINE 604 IWTH AV*. . NEU ' YOIK. N. Y. S 3 BROADWAY, NIW YOBX. N. T. Thant BRYmt 3900 fkamf iiAKnntt 7394 25 Y ‘ 1005 CONNECTICUT H. W. WASH . Bl e. Fhont Bowling Grim 3144 F4#«# Ptwnklm <95 4th AT UNIVIMITY, HAITI*, WASH. (OMIT AOILAI BUM. . SAN DBANCISCO £ « ■ it *’■" " ■■» ,mm "■ fO. FrX’AN’CI AC. " WHEAT CLOSES LOWER. i CHICAGO. May 8 (*■>.—New smash- | • ing down of wheat values today carried ! i all future deliveries to much below any . bottom record heretofore met with this i season. May delivery of wheat went down to the lowest price at this season of the year since 1914. Selling was on a i large scale, and cattle chiefly from I wheat holders continuing to let go ! ownership that of late has meant j 1 heavily increasing losses owing to big ! supplies and relative slowness of ex- j port demand. At today's bottom figures j I the wheat market was off more than i ! 30 cents a bushel from top prices cur- i i ren* last February. Wheat closed unsettled. 3' 4 to 4 1 j j | net lower: com, 2 n n to 4 down: oats, j | to l 3 k off. and provisions unchanged ! ' to a setback of 15. I WHEAT— Hieh. Low. Clot- ! i Mar 107 1 0"’, 1.03*4 | July 1.1? 1.07 1.07’,' September 1.15*, I.lo*. Lll'sl December 1 30’ ; - US’, 1.18 CORN— May SS’, WP, *4 July 91'; .««>', 87’, September W* s*-. .39’ j December .86’.: ,82’» 83’« OATS— May 47*« ,4S’ , 46’. July 45'j .44’, .44 September 43’t .42’« .43’« December 45 .44’, .44’, RYE— May 90 7 , .87', .*7', July 90*4 C6t a 37*4 September 94':i 80’j So'4 LARD— May 11 .67 11.82 11.62 1 July .; 12.02 11 S7 1187 September 12 37 12.25 12 25 RIBS— May 12.50 July 12.85 September 13.25 TREASURY CERTIFICATES. (Reported uy J A W. Sellgman At Co.) Rate—Maturity Bid. Ofler. i 4 'as June 15. 1929 99 28-33 99 30-32! 4’ii Sept 15. 1929 93 27-32 99 30-32 4',5 Sept. 15, 1929 99 21-32 99 23-32 1 4'-4 Dec 15. 1929 99 15-32 99 17-S2 i JVaS Mar. 15. 1932 98 21-32 96 31-32! 3'as Sept. 15. 1932 96 25-32 96 29-32 | j S',as Dec. 15. 1932 98 25-32 96 29-32 . —- « Color blindness is generally heredi- I | tary, but the excessive use of tobacco j ! may tend to develop it, says a Euro- j ' pean scientist. 13 j HIGH MONEY RATE LAID TO GRAIN SPECULATION 1 By the Associated Press. NEW YORK, May 9.—One of the ! theories advanced for the persistent stringency in the New York call loan market is that funds have been with- I drawn by speculator! in wheat futures ■ to bolster up weakened margins during ! the recent decline in prices to the loy ; est levels for this time of year since 1924. May wheat has dropped about 28 cents a bushel from its high of i the year. It is also believed that farm -1 ers are unwilling to sell their holdings at the current prices and are therefore t borrowing more than normal at the I banks to finance Spring operations, i Bankers see little hope for. any , marked improvement in the supply of j call funds in the near future because of the large sums which will be re quired to take care of new financing planned by several large corporations. It is estimated that between now and July about $8,000,000,000 will be re quired to take care of the exercLse of rights which have been granted for stocks and bonds, being offered by such companies as the American Telephone «fc Telegraph Co., the Baltimore & Ohio, Chesapeake d: Ohio and Southern Rail ways and Anaconda Copper, Headache? Instead at dangerous heart depres sants take safe, mild and purely vegetable NATURE’S REMEDY and get rid of the bowel poisons that cause the trouble. Nothing like Nt for biliousness, tick head aches, and constipation. Acta pleasantly* Never gripes. Only 26c. Malta the test tonight— i Hl—Bi—liill dtrUiiUSUbß 249 Washington Druggists