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Evening star. [volume] (Washington, D.C.) 1854-1972, April 05, 1930, Image 14

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A-14
GAIN IN BUSINESS
ACTIVITY IS NOTED
Good Weather and Easy
Credit Aid in Upswing
of Industry.
BY JOHN F. SINCLAIR.
Special Dispatch to The Star.
NEW YORK. April 5. —Good weather
and easy credit conditions are respon
sible for the increased business activity
which is showing itself in many parts
of the United States.
With the Federal Reserve Bank of
New York operating on a 3 1 /* per cent
rate, the same as the Bank of England,
compared with 6 per cent in New York
and 6’/2 per cent in London last Fall, the
rates in other countries are being af
fected by easier money. The Reichs
bank's rate has moved down from 7 'a to
5 per cent, while the Central Banks of
Holland and France, both money cen
ters, are even lower than those of the
United States and England—a flat 3
per cent.
There are som? who believe that the
rates quoted in the United States by the
Federal Reserve are too low, and that
the New York rate may move up rather
vigorously in the next few weeks.
Both the English pound and the
French franc have been very strong
since the New York rates were dropped.
French and English banks and business
firms have been withdrawing large sums
of money from the United States, be
cause they are not able to do any better
in New York with their money than
they are in Lon,', n or Pans.
On the other ha..., ..iere has been a
considerable amount of foreign money
sent to New York banks in the laat
fortnight, some of it presumably for
stock market operation.
Certainly investment trusts and for
eign buying have been the two bullish
factors in the market since the impres
sive stock advance began two weeks ago.
Five million- share days on the New
York Stock Exchange continue. Yes
terday's record of 5.942,000 was the
heaviest turnover for 1930. The stand
ard stocks like American Can, United
States Steel common, international
Telephone & Telegraph. General Elec
tric and Radio, all moved up vigorously
on trading in big blocks.
The public may not be buying so
much, but some large investment groups
—especially investment trusts, who
have been waiting for months on the
sidelines —evidently have decided that
the time to buy has arrived.
Automobile production is on the in
crease Although the 400,000 cars
manufactured in March were 36 per
cent below the figures for March. 1929,
they represent an increase of 18 per
cent over the figures for February.
The National Automobile Chamber of
Commerce, whose duty it is to keep a
close finger on the pulse of the auto
industry, favors a flexible provision in
the tariff regulating importation of for
eign made cars. Through its newly
elected president, Robert W. Woodruff,
president of the White Motor Car Co.,
the chamber states:
"These provisions are an essential
factor in the world tariff condition con
fronting all engaged in export trade."
The chamber presents a very sensible
viewpoint. How can American ex
porters hope to cope with situations
arising in other countries when exces
sive tariffs irritate the manufacturers
in these countries against tariff situa
tions here. The chamber wants provi
sions for changes necessarily pertinent
to the welfare of auto manufacturers’
sales in other countries.
In other words, the chamber wants
effective tariff revisions when needed,
whether Congress is in session or not.
The United States exports for 1929
reached $5,241,000,000, gaining $113,-
000.000 over 1928, and establishing a
new record.
Imports, on the other hand, showed
even a greater increase, $309,000,000
greater than the preceding year, the
balance of trade being $841,000,000 in
favor of tne United States for 1929 as
compared with $1,037,000,000 for 1928.
Analyzing the figures, the real rea
son for the export expansion centered
in the development of finished manu
factured products. While raw cotton
still held first place in value, machinery
and electrical apparatus, automotive
products, and gasoline followed in the
order named.
The import growth came from the
larger purchases of raw materials and
semi-manufactured products for our
factories. But there was also a large
increase in the value of imports in fin
ished articles.
Os course, these figures do not include
interest on American debts held abroad.
Nor other invisible items, such as tour
ist expenditures and money sent to for
eign countries for other purposes than
the purchase of goods.
Representative Francis Seiberling of
Ohio has joined with Representative La
Guardia of New York in a protest to At
torney General Mitchell against the pro
posed Bethlehem-Youngstown merger.
In a letter to the Attorney General
Mr. Seiberling calls upon the Depart
ment of Justice to make an investiga
tion to “protect properly the interests
of our people.”
Mr. La Guardia’s resolution, already
Introduced and calling upon the Attor
ney General to stop the merger, charges
"a subtle plan backed by the United
States Steel Corporation to create an
American steel trust.”
Mr. Seiberling's letter says that
“Ohioans are proud of the successful
and independent industries developed
among them,” and that the “merger of
these industries with great Eastern cor
porations will have the effect of making
their cities mere mill towns.”
Charges that the merger is being
forced through purchases of large blocks
of stock and that “promoters of the
merger are determined to consummate
it at any cost, irrespective of its legality
or the effect upon the people of North
ern Ohio,” are also included in Mr.
Seiberling’s letter.
In some quarters it is said that many
Youngstown stockholders are opposing
the merger, fearing reprisals on the part
of United States Steel Corporation and
the reduction of $4 a ton in the price of
pipe by a subsidiary of that corpora
tion, the National Tube Co., is regarded
by the opponents to the merger as a
warning against it.
When the steel industry starts fight
ing sparks fly. Next Tuesday, the battle
of ballots will begin.
(Copyright, 1930. by North American News
paper Alliance.)
— - ■ ,
ANCHOR POST FENCE.
BALTIMORE. April 5 (Special).—The
Anchor Post Fence Co. of Baltimore
realized its most profitable year in 1929.
the report of operations just issued
shows. Both sales and net income set
records for all time. Total sales ex
ceeded 1928 by 11.6 per cent and net
income showed a comparative gain of
75.6 per cent.
The balance sheets show current as
sets of $947,520. against current liabili
ties of $270,342, a ratio of more than
to 1. Surplus at the end of the
year was $679,830.
INVESTMENT TRUSTS
NEW YORK, April 5 (JP).— Over the
(counter market:
4 Bid Asked
'Am & Cont Corp 30 32
Assoc Stand Oil Stocksll7«2 7 « 13%
Basic Industry Shares 9% lOV.
British Type Invest inew) 17V. 18%
Corporate Trust Shares ’, 9% lOVa
Diversified Trustee Shares A... 26' 2
Diversified Trustee Shares 8... 21 J « 22**1
Diversified Trustee Shares C... 9*/« 9%
Fixed Trust Shares A... 22%
Fixed Trust Shares B 19%
Investment Co. of Am. com .... 48 .....
Investment Trust of N. Y 12 12%
North American Trust Shares.. 9 T /s 10%
Oil Shares. Inc., Units 55 60
Securities Corp. Gen. com 570 .....
. Trustee Standard Oil Shares... 11 _
? i
FINANCIAL.
I NEW YORK STOCK EXCHANGE I
Received by Private Wire Direct to The Star Office.
(Continued Prom Page IS.)
High. Low. Dividend Kate. Add 00. High. Low. Close. Close.
40 24V4 Mohawk C Mills (I). 14 24411 24'4 2444 2444
60 48% Monsanto Cb (glV4>. 2 62% 62% 62% 63%
49% 36% Montgomry Wrd (I). 69 40 39% 39% 40
16% 3% Moon Motora 26 14% 14 14% 14%
72 68% Morrell &Co (4.40).. 1 66 66 66 66
2 1H Mother Lode <4oc).. 6 2 2 2 2
8 4% Motor Meter GAB.., 67 9% 8% 9 '8
66 60 Motor Products (2).. 85 72% 64 72% 64%
?4 26% Motor Wheel (>).... 1 32% 32% 32% 32%
20*. 12% Mullins Mfg 1 18% 18% 18% 18
24% 18 M urrayCor (bl % atk. 18 22% 22% 22% 22%
4944 35% MyertFEWfc Bro (2). 4 47% 46% 46% 47%
68% 45% Nash Motors (•).... 18 48% 47% 47% 48%
132 121% Nash. Chat&StL (7). 10a 130 130 130 131
26% 18% Nat Acm.e U %>.... 2 23% 23Vt 23% 28%
26% 11 Natl Air Trana 23 28% 26% 28% 26%
15% 9% Natl Bellas Heas.... I 12 12 12 11%
91% 71 Nat Biscuit, n t 2.80). 11 87% 87% 87% 87%
83% 60% Nat Cash Reg.A(t4). 11 66% 66 66 66
55% 45% Nat Dairy (12 > 94 55% 54% 64% 55%
2444 20 Natl Dept Storea<2).. 2 20% 20% 20% 20%
33% 27% Natl Enameling (2).. 2 29% 29% 29% 29it
18944 137 National Lead (t*).. 1 170 170 170 169%
56% 32 Natl PwrA Lt 41 >... 72 64% 63% 64% 54%
122 102 Natl Supply (6) 21 124% 121 122% 120%
98% 70% Nall Surety (6) 2 91% 91 91 91
41% 32 Nat Tea Co (2) 1 34% 34% 34% 34%
50 43 Neisner Broa (1.60).. 1 48 48 48 45%
32% 26% Nevada Coppar <>).. 34 29% 29 29 29%
67% 40 Newton Steel (3).... 9 63% 53% 63% 64
47 44% N Y Airbrake (3.60).. 2 45 45 45 45
192% 167 NY Central (3) 28 186% 186 186 189%
110% 108% N Y Chi &StL pf (6) 3 111 110 111 110
324 180 NY & Harlem (6)...740a 257 236 254 258
128% 108% NY N’H&Hart («>... 2 127 126% 126% 126%
135% 122 NYNH& H pf (7).. 9 129 127 127 129%
17% 13% N Y Ont & West 1 16 16 16 16%
4% 2 N Y Railways pf.... 2 3 3 3 3
2% 1% N Y State Rallwaye. 100 s 2 1% 2 2
3% 2% N Y State Ryapf....2oob 3% 2% 3% 2%
103% 100 N Y Steam pf (6).... 90s 103% 103 103 103%
116% 110 N Y Steam Ist pf (7) 40s 114 113 114 113%
128% 93% North Amtblo%atk) 119 129% 127% 129% 128%
55% 61 North Am pf (8).... 1 54% 64% 64% 64%
104% 100% North Am Kd pf (6). 2 104% 104 104 104%
97 84 Northern Pao (6).... 6 94% 93% 94% 92%
96% 82% North Pao ct (6)...., 1 92% 92% 92% 92%
4 % Norwalk Tire & Rb.. 2 2% 2% 2% 2%
15% 9% 011 Well Supply 1 12% 12% 12*4 12%
29% 13% Oliver Farm Equip.. 22 28% 28% 28% 28
44% 31% Ollvr Fr Eq cv pt(l). 6 42 42 42 42
89 70 Ollvr Fr Eq pf A(6) „ 1 86 86 86 86
8% 2% Omnibus C0rp...... 46 8% 7% 7% 7%
89 63 OrpheumClr pf (8). 100a 88 88 88 89%
80% 76 Otis Elevator n(2 Vi) 66 78 76% 77% 76%
38% 30% OllsSteel (2%)..... 3 36% 36% 36% 36%
60% 62% Owens ill Glasatn*). 1 60% 59% 59% 60
17 7 Pacific Coaat 1 19% 19% 19% 16%
19% 15 Pacific Coast 2d pf..- 20s 16 16 16 16
74% 62% i'acino Gas &hi 12)., 34 70% 69% 70% 70%
107% 72 Pacific Lighting (8)* 14 103% 103 103 104
1% 1 Pacific Oil stubo..... 6 1% 1% 1% 1%
23% 16% Packard Motor <l).. 189 22% 22% 22% 22%
8% 4% Panhandle P * R.... 5 7% 77% 4%
77% 48% Paramount-F-L t 4). 259 74% 72% 72% 74%
34% 26 Park & Tllford (28). 127 35% 34% 34% 82%
3% 2% Park Utah 4 3% 3% 3% 3%
26% 17% Parmelee Trans lVb« 18 22% 22V* 22% 22%
6% 2% Paths Exchange..... 28 6% 5% 5% 5%
13% 5 Pathi Exchange A... 14 12% 11% 12V* 11%
32% 23% Patino Mlnea (3.89). 10 26% 26% 2b% 27
14 6V» Peerless Motor Car.. 5 10% 9% 9% 9%
80 63 Penney (J S) (8).... 4 67 66% 67 66%
99% 93% Pen (JC) pf A (•)... 2 99 99 99 98%
12 6% Penn Dixie Cement.. 5 10 10 10 lu
86% 72% Pennsylvania KKi4) 116 86% 85 85 84%
44% 38% Phelps Dodge (8)..., 11 43% 43 43 43%
54 50% PhllaCo6% pf (3).. 1 53% 53% 63% 62%
19% 11% Phtla & Read C4k 1.. 98 19% 19 19% 19%
15% B'/* Philip Morris (1).... 4 13 12% 13 13
39% 29% Phillips Pstrin (n 2). 132 40% 39% 40% 39%
33 21% Pierce-Arrow A 1 32% 32% 32% 32%
82 69% Pierce-Arrow pf (•). 8 82 82 82 82
2Vi 1 Pierce OU 15 2 1% 2 2%
41% 20% Pierce OU Pf 3 38 38 38 38
6% 2% Pierce Petroleum.... 8 5% 6% 5% 5%
37V* 33% PUlsbury Flour «>).. 7 36% 36 36% 36%
22% 17% Pittsbgb Screw 1.40.. 1 21% 21% 21% 20%
103 100 Pitts Steel pf (7)... 100a 100% 100% 100% 101
15% 8 Pius Terminal Coal. 2 11 11 11 11%
76V* 59% P Klcan Am To (A)7 2 70 70 70 71
27V* 12 P Klcan Am To (JB).. 23 25 24% 24% 24%
54 45 Prairie Oil & Gast’i). 12 52 b'2 52 52
60 64% Prairie Pipe L 06).. 6 56 55% 56 56%
16% 7% Pressed St eel Car..- 19 14% 14% 14% 14%
76% 52 Pressed StlCpf (7).. 5 72% 72% 72% 72
70% 02% Proc & Gamble (».. 11 67% 66% 66% 67
11% 6% Prod* Refiners 1 11% 11% 11% 11
40 31 Prod & Refiners pf.. 40a 35 35 35 35
34% 27% Poor &Co (B)tZ)... 2 20V* 30% 30% 31%
113% 81% Public Serv. NJ 3.40. 267 111% 109% 111% 110%
112% 106% Pub Svc NJ pf («)... 1 111% 111% 111% 111%
130% 121 TubSvcNJ pf <7>... 1 128% 128'% 128% 130
110% 101% Pub Svc E&G pf (6).. 3 109% 109% 109% 110
89% 81% Pullman Corp «4).... 161 85% 83 85% 82%
BVi 4% Punta Alegre Sugar.. 4 5 5 5 4%
25% 21% Purs 011(1 Vi) 2 26% 25% 26% 25%
113% 112% Pure Oil pf (8) 100 s 114 113% 114 113%
89% 74% Purity Bakeries (4). 8 75% 75 75 75%
62% 34% Radio Corp 1271 61% 69% 60% 61%
56 53 Radio pf A (3Vi).... 1 56% 56% 56% 56
85 68 Radio pf B (5) 55 83% 83 83% 83%
40% 19 Radlo-Ketth-Orph A. 540 39% 38% 39% 39%
75 70 RRSec lCstkC(4). 30s 75% 75% 75% 74%
49 33 Raybestos Man 2.60. 14 48 47% 47% 49
64% 44% Real Silk (5) 33 62 60% 62 60%
100 88 Real Silk Hos pf (7). 10s 98 98 98 98
44% 25% Rem Rand (1.60).... 42 43 42% 42% 42%
14% 10% Reo Motor Car (.60). 13 13% 13% 13% 13%
82% 72 Repub Ir & Steel (4). 1 79 79 79 80
80% 72 Rep Ir&Sti ctfs (4).. 16 79 77% 78 77
113 109% Replr&Spfctfs(7) 2 114% 114% 114% 114%
7% 4 Reynolds Spring.... 17 5% 5% 5% 5%
58% 49% Reynolds Tob B (8)., 41 64% 64% 54% 54%
28% 22% Richfield OU (2).... 21 27 26% 27 24%
25% 16% Rio Grande OU (S).. 42 25% 25% 25% 25%
59% 44% Ritter Dent Mfg (t 8) 1 66% 66% 66% 56%
48% 37% Rossla Ino (2.20).... 3 45% 45% 45% 45%
54% 49V* Royal Dutch (a*.2o). 62 55% 54% 55V* 54%
99% 94 Safeway pf (6) 20s 96 96 96 96
57% 48% St Joseph Lead (78). 6 53 53 53 53%
101 92 St L-San Fran pf(6). 2 100% 100V4 100% 100%
13% 4% Schulte Retail Strs.. 3 8% 8% 8% 8%
75 35 Schulte Retail pf(8). 30s 70 70 70 70
100% 81% Sears Roebuck (J2Vi) 13 88 86% 88 87%
23 9% Second Natl 1nv..... 4 18% 18% 18% 18%
3% 2% Seneca Copper 3 3 2% 2% 3
12% 7% Servel Ino 35 11% 11% 11% 11%
32% 22% Sharon Steel H (2).. 3 30% 30 30 30%
27% 17 Sharp & Dohme.... .1 2 24% 24% 24% 23%
50V* 36% Shattuck(FGHtlVi) 13 49V* 48% 49% 49%
24% 21 Shell Union (1.40)... 60 25 24% 25 24%
105% 100 Shell Un Oil pf (6Vi) 3 104 104 104 103%
18H 8% Shubert Theatres.... 2 16% 16% 16% 16
94% 43% Simmons Co (g 8).... 61 52% 51% 62 52
37 22% Simms Pet (1.60).30 34% 33% 341 i 33%
31% 21% Sinclair Con OU IK).. 301 31% 30% 31% 30%
40% 28% Skelly Oil (2)....... 137 40% 39% 40% 40
8 5% Snider Packing 2 6% 6% 6% 6%
114 96% Solvay Am In pf 6Vi. 10 114% 113% 114% 113%
67% 66% Southern Cal Ed (8). 5 66% 66% 66% 66%
Baltimore Markets x
Special Dispatch to The Star.
BALTIMORE, Md., April s—Poultry,
alive —Turkeys, pound, 35a40; old toms,
25a30; chickens, young, 33a42; Leg
horns, 23a 38: old roosters, 17a20;
capons. 35a40; ducks, 17a30; old hens,
30a31; Leghorns, 20a28; guinea fowls,
each, 50a75; pigeons, pair, 30a35.
Eggs—Receipts, 1,733 cases; nearby
firsts, 25hennery white firsts, 26*/ 2 ;
duck eggs, 38a40.
Butter—Good to fancy creamery,
pound, 36a39V2l ladles, 31a32; store
packed, 18al9; rolls, 25a28; process,
31*/0&32.
Potatoes, white, 100 pounds, 2.25a2.90;
new, bushel, 1.50a2.75; sweet potatoes,
barrel, 2.00a4.00; yams, barrel, 2.25a
3.50; beets, crate, 2.75a3.00; asparagus,
dozen, 1.50a6.00; beans, hamper, 3.00a
5.50; cabbage, hamper, 3.00a3.50; car
rots, bushel, 1.40a1.50; cauliflower,
crate, 1.75a2.25; celery, crate, 2.50a
3.75; eggplants, crate, 2.00a5.00; lettuce,
basket, 1.00a2.00; kale, bushel, 5C_75;
onions, 100 pounds, 3.00a3.50; peppers,
crate, 2.00a5.00; parsnips, basket, 60a
65; spinach, bushel, 35a75; radishes,
hamper, 1.50a1.75; squash, bushel, 2.00a
3.50; tomatoes, crate, 1.00a2.75; turnips,
hamper, 60a75; apples, bushel, I.ooa
3.50; grapefruit, box, 3.00a5.50; oranges,
box, 3.50a8.00; strawberries, quart, 22
a6O.
NEW YORK BANK STOCKS
NEW YORK, April 5 (£>),.—Ovbr the
counter market:
BANKS.
Bid. Asked.
America 139 .40
Broadway National...t 115 125
Chase National 167 169
Chat Phenlx National 139 142
City Bank MS i 245
Fifth Avenue 3550 3650
First National N. Y 6425 6500
Manhattan Co 152 154
TRUST COMPANIES.
Bankers’ 176% 177%
Cent Hanover 398 402
Chemical Bank & Trust 85% 86>/«
Corn Exchange 236 238
County 395 315
Equitable 131% 1*3%
Guaranty 860 864
i Irving ,«8 '4 **
Manufacturers’ 148 159
New York 325 329
Westchester Title A Tr 130 155
THE EVENING STAR, WASHINGTON, D. C., SATURDAY, APRIL 5. 1930.
—Frev. 1(30.-* Stock and Sale*— Free.
High. Low. Dividend Rate. Add 00. High. Low. Close. Close.
127 119% Southern Pacino (•). 3 124 123% 124 123%
136% 123% Southern Rwy (8)... 2 129% 128%’129% 129
36% 19% Spang-Chalfant...... 8 33% 33 33 32%
23% 13% Sparks WithngtnU). 45 23% 22% 23% 23%
10% 6 Spear &Co 70s 7% 7% 7% 7%
62 35% Splegei-May-St (8).. 3 41 40 40 41%
29% 22% Stand Brands UVi).\ 66 25% 25% 26% 20%
7% 6 Stand Comm T0b.... 2 5% 6% 5% 6
124% 109% Stand Uaa &El UVi) 21 119% 118% 119% 119%
15% 10 Stand Invest Corp... 2 12% 12% 12V* 13
70 66% Stand Oof Cal (2%).1861 72 69% 72 69%
102 98 Stand Oil Exp pf (6). 4 100% 100% 100% 100%
40% 37% Stand Oil of Kan (2). 41 39% 39 39% 39%
77% 68 bland OU NJ (T 2).. 1133 79% 76% 79% 76%
37% 31% Stand UUN Y U. 60). 153 38 37% 37% 37%
3 1% Stand Plate Glass..., 12% 2% 2% 2%
20% 10% Sterling Sec A 48 19% 18% 18% 19%
14% 12 Sterling Seopfl 1.20) 2 14% 14% 14% 14
48 36% Sterling Seo ev pf (3) 4 46% 4b% 46% 4b%
46% 38 siew-VVarner (h 3 Vi) 52 47 45% 46% 46m
104% 77 Stone* Webster t4>. 829 108% 106% 108% 103%
47% 40 Sludebaker Co (6).. 10 42% 42 42% 42%
125 116 Studebaker pf (7)... 100 s 126 125 125 125
1% % Submarine BtM a 1% i i i
65% 53 Sun OU (fl) 12 68% 64% 68% 64%
105% 102% SunOUpr.t#) 2Us 104 104 104 104
8% 5% Superior 0U........ 12 7% 7% 7% 7%
29% 20 Superior Steel 2 27 26V* 26% 27%
6 2% Symington . 9 5% 5 5% 5
16% 8% Symington (A) 14 16 15 15% 15%
26 15% Telautograph (11.30) 61 26 24% 26 25%
16% 13 I'enu Lop at Cb tl), . 4 lb 1 /* 16 16 16%
69% 60% Texas Corp »3) 28 69 68% 69 68%
b7% 64% Tex Gull Sul (4).... 32 64% 164% 64% 164
132 117 Texas * Pao i6> 2 132V* 132 132 132
14% 8% TexPC&Uil 11 13% 12% 13% 13
32% 13% lexas Kao Land T*.. 62 27m 27 27% 26%
3b% 19 Thatcher Mlg tI.SU). 63 35m 34 t 34V* *.36%
45*4 43 Third Natl lnvea tl) 2 44 43% 43m 43
38*% 33% Thompsn !Todl2.4U> lb 38% 37% 37% 3BV*
18m 11 Thompson Slarrett.. 9 16% 16% lbm 11%
lb% 10% Tide Water Asao 60c. 7a 16% 16 16% 16%
89% 78 Tide Wat Aaao pf tC) 186 V« 86% 86% 87
92 86% Tide Water Oil pf(6) 1 92 Vi 92V* 92% 91%
20% 14% Timken Det AxiKOe). 8 19% 18% 18% 18%
86% 10% XTmkeu Roller (3)... 113 Bi>% 84% 86 85V*
6% 2% Tobacco Products... a 4% 4% 4% 4?*
12 1% Tobacco Products A. 1 ll 11 11 11%
20% 16% Tranaoontl Ull (30c). 119 20 19% 20 20
28% 10 Ttaueue* W (1).... 1 23% 23% 23% 23%
41% 30% it ico Prod «2Vfc).... 2 40% 40 40% 40V*
31% 22% Twin City Rp X (4).. L 22% 22% 22m 22m
138 97V* Uud-EU-Planer It).. 6 124% 124% 124% 124%
106% 7b Uulou Carbide *2.60) 98 105% 101% 103 103%
47% 41% Union UR of Cal’(s2) 17 47% 46m 41% 46%
242% 21a Union Pacino (10)... 2 238 238 238 239%
86Vi 82V* Union Pacific pf (4).. 1 85% Ba% 86% 85%
37 33 Union T’k Car (1.60). 2 36% 36V* 36% 36%
93!* 43% Uld Aircraft* Trana. 424 88m 84% 88V* 88
16 . 66 Uld Aircraft*!’pf S., 1 74% 74% 14% 74%
62 36 Utd Biscuit (1.60)... 9 60m 50% 60% 60
74% 44% Utd Carbon (2) 18 68% 61% 67% 67%
9 4 Utd Cigar Stoies.., 8 6% 6 6% 6
46% 30% Utd Corporation J 46% 45% 46% 46%
62% 46m Utd Corp pf 13)...... 19 61V* 60% 61% 61
19% 10 United Elec C0a1..... 6 14% 14% 14% 16
lUS 86% United Fruit (4).... 44 95% 93V* 95% 93V*
43% 31% Utd Gaa * Imp 11.20) 384 4a% 44% 4a 45
100 y« 97 UtdUaa*lin pf (6).. 2 99% 99m 99% 100
14 7% Utd Paperboard 2 11% 11% 11% 12
32% 25 Unit Piece Dye W (2) 8 321* 31% 31V* 31
12 4% United Stores A..... 8 9 6% 8% 8%
36% 15% Udt Stores pf 1 29% 29V* 29% 31
3% 2 m US Express 6 3% 5 3 3%
32% 18V* US * Foreign Secur. 11 30% 30 30% 30
101 85V* U S *For Sec pf(6). 4 99 97 99 99
101% 85% U S Freight (3).... „ 74 98'% 90 97% 90
139% 98V* U S ind Alcohol (17). 11 104% 104 104% 104%
11% 7% US Leather 2 11% 10% 11% 11%
20V* 15 US Leather A * 2 18% 18% 18% 20
36% 18V* U S Pipe * Fdry (2). 20 34V* 34% 34% 34%
75V* 60 U S Realty (6) 9 12 71 11 71V*
34V* 21% US Rubber 29 33% 33 33% 33
63m 47% U S Rubber Ist pf... 7 63% 62% 63 62%
36% 29 U S Smell Ref (4Vi). 9 32%* 32 32 33
197% 166 US Steel (7) 521 196 * 194% 196% 195%
146 141 U S Steel pf (7) 4 14a% 143 145 140
68 60% US Tobacco (4) 1 65% 65% 65% 60%
115 103% Untv Leaf Tob pfl«). 10s 11a 115 115 11a
8 2% Umv Pipe * Rad.... 18. 1% 7% 7% 8
43% 31% Ulll 1* r*Lt Ate 2). 330 44 42V* 44 42
7% 4 Vadsco Sales Corp... 1 6Vi 5% 5% 5%
124% 49V* Vanadium (14) 34 106 m 103% 105 105%
46 37% Vick Chemical (2 V*>. 12 44V* 44 44% 44
8% 6% Virglnia-Car Chem.. 2 8 8 8 8
103 100% VaEl&Pwr pf 16).. 10a 101% 101% 101% 103
156 6a Vulo Detinning (4) . .170* 137% 132 136 13a%
149% 68 Vui Dell lining A (41. 20s 132 132 132 134
67% 51 Wabasn 12 64% 63 64% 64V*
89 83 Wabash pf. A (5).... 1 88% 88% 88% 88%
29V* 24% Waldorf sysun UVfc) 3 29% 28% 28% 29
42% 2b Walworth Co (2).... 12 41% 40% 4Tm 41V*
54 21% Ward Baking A. .... 1250 s 43V* 41 41 42%
15% 4% Ward Raking B 227 13% 11 11% 13%
77V* 68 Ward Baking pf (7).. 15 72% 68 68 73
80V* 38% Warner Broa Plo (4). 1287 75% 72 74% 75V*
20% 16% Warner-Qulnlan (1). 6 18% 18% 18V* 18%
193% 132 Warren Bros (T 9)... 1 185% 185% 185% 183%
83% 23% W’arren Fy&PlpeCi). 9 31% 31% 31V* 31%
9% 6% W ebster-Elsenlobr.. 4 8% 8 8% 8%
29V* 22% Wess OU & Snow (2). 2 27% 27% 27% 27
100% 97% W est Penn El pf (•). 10s 99 99 99 100
117% 113% West Penn Pw pf (7) 10s 115% 115V* 115% 117V*
20 13% Westn Dairy (8).... 1 18% 18% 18% 18%
36 24V* Western Maryland.., 27 34V* 32% 33V* 33%
53% 40% W’estern Pacific pf... 2 5u 50 60 51V*
219% 177 Western Union (>)... 8 190!i 189% 190 1901*
52 43% Westiughse A B (2).. 6 47m 47V* 47% 48V*
195 140 Westinabse E&M (6) 139 187% 183% 187 186%
192 133 Weslhse E&M pf (6) 10s 182V* 182% 182% 183
48% 29% Weston El Ins (1)... 2 46 45 46 46%
43 31 Whits Motors (2).... 11 42% 42% 42% 43
54% 36% White Rck MS(t4Vi) 2 49 48V* 48% 48%
13V* 7% White Sewing Macn. 3 12% 12% 12% 13
18% 11% Wilcox Oil & Gas.... 2 18 18 18 18
34V* 27 Wilcox Rich (A) 2Vi. 6 32 31 32 30%
27% 19% Wilcox Rich. B (2).., 12 27% 26% 27 26%
10% 7% Willys-Over (1.20).. 40 9% 9% 9% 9%
72% 58% Woolworth (2.40)... 38 64m 63% 64V* 63%
139% 67V* Worthington Pump.. 22 133V* 130V* 133 132%
91% 78 Worth Pump B (6).. 2 91 91 91 90
70% 68 Wrlgiey Wm 14).... 1 68 68 68 68
27% 12% Yellow Truck A C. ... 44 27% 26% 26% 27
105 72 Yellow Truck pf..... 30s 92 92 92 105
47 36% Young Spring (2).... 13 43% 42% 43% 44%
150% 108 Young Sheet 4k T (6). 8 147% 146% 147% 147
11% 5% Zenith Radio 23 10% 10 10% 11
SIGHTS EXPIRE
2 % Am Roll M.. .June 16 9 -1% H* 1% 1%
2% % Chi RI&P. ...May 9 15 2V* 2 2% 2%
% % Con Fil lnd.. .Apr 10 41 % % % %
7% 3% Fox Film A...Apr 10 40 7% 6% 7% 7%
% % Fox Film deb. Apr 10 63 % % % %
2% 1% lntTel&Tsl. .May 1 108 2% 2% 2% 2%
6% 3% Pac Llghtg. .May 1 270 6% 6 5% 6%
4% 3% So Cal Ed.... .Apr 21 4 4 4 4 4
Dividend rates as given in the above table are (he annual cash
pavments based on the latest quart*rly or .tali yearly declartlons.
sUnit of trading less than 100 shares, t Partly extra l Plus 4T.
in stock. 1 Payable in scrip. 5 Plus 9% in stock, a Paid last year
no regular rate. b Payable In stock, d Payable when earned, e Pay
able in cash or stock, f Plus 10% in stock, g Plus 65> in stock,
h Plus 2?« in stock.. 1 Plus 8V« In -teck k Plus 3% In stock, n Plus
5% in stock.
SEASONAL UPTURN IN TRADE
FOLLOWS EASY MONEY RATES
Banks Lending More Freely for Industrial
Needs —Building Activities Show
Gain —Collections Better.
BY J. C. ROYLE.
Bankers of the country apparently
have blinked themselves out of the
nightmares which have been troubling
them for the last five months. At least,
“easy money” now is more of a reality.
Banks are loaning more freely for in
dustrial purposes. This is reflected in
better sentiment throughout the eco
nomic structure.
Steel has resumed its advance, due to
the seasonal demand. The passing of
the 26,000,000 mark for automobile
registration is encouraging the motor
producers, especially as the number of
new cars registered in the last month
has shown a strong increase as com
pared with February.
Construction Gains.
Construction' is picking up. Public
works and industrial construction are
doing better and are, in fact, almost at
the same level as at this time in 1928
and 1929. The amount of residential
building, however, is disappointing.
There is a demand coming up, however,
from industrial centers where new in
dustries and larger plants are springing
up. This is specially true of locations
near big aviation landing fields and air
ports, which have drawn workers in
large numbers, who must be housed in
the neighborhood.
Collections in both the wholesale and
, retail fields are improving coincidentally
with the growth of employment. This
, is especially noted in the cities of the
Midwest. The reported unemployment
has not had a marked effect on the vol
ume of savings bank deposits.
The garment industry is showing its
i
annual Spring betterment and this is
having a favorable influence on textile
manufacture, wool and cotton and silk
and affiliated lines. The demand, de
layed by cold weather, is being felt in
full force.
Utilities Doing Weil.
The utility companies, except possibly
the street railways, are doing well, with
gas and electric transmission lines
growing rapidly. The power consump
tion curve again is on the swing up
ward. More gas is being used indus
trially and domestically than ever be
fore. The electric equipment manufac
turers are having a Spring fully equal
to 1929, when new high records for
profits were established.
Strong pressure has been brought to
bear on farmers to reduce wheat and
cotton acreage, but indications do not
lead to the belief that this pressure has
been successfully applied. The live
stock growers and feeders are in a
strong position, however.
The petroleum industry is proceeding
cautiously, waiting for the consumption
always expected to rise with warm
weather. Production of crude in the
Oklahoma fields has again been dras
tically curtailed. The coal industry still
is depressed, but anthracite producers
are in better position.
(Copyright, 1930.)
V. S. TREASURY BALANCE.
The United States Treasury balance
announced today as of close of business
April 3 was $359,175,046.23. Customs
receipts for the month to date were $4,-
462,201.30. Total ordinary expenditures,
$9,796,677.92.
BOND PRICES GAIN
AT SHORT SESSION
Prime Group Firm Despite
Stiffening of Money Rates.
Convertibles Sag.
BY F. H. RICHARDSON.
Special Dispatch to The Star.
NEW YORK, April s—Despite a slight
advance in time money rales —90-day
bills are now quoted at 4 to 4\\ per cent
against 4 per cent on Friday—the bond
market moved upward today.
The session v.as fairly active because
of the continued heavy trading in such
convertible issues as American Tele
phone 4*2 s . International Telephone
4 Vi*, General Theater Equipmgpt 6s
and Warner Bros. Pictures 6s. These
were Inclined to sag in sympathy with
the trend in their common stocks.
The strength of the market apart
from the convertible group was chiefly
manifested by unchanged prices and
the resistance thus shown to selling. In
the prime section Pennsylvania Gener
al 4
Motors acceptance 6s scored small gains.
In the Industrials Chile Copper ss, Na
tional Dairy Products sVis and Good
year 5s were actively higher features.
Dullness characterized trading in jun
ior railroad descriptions. Florida East
Coast 4 Vis were 3Vi points higher on
the first sale of the week in this issue.
At 90 the bond was at its 1930 top.
Rock Island 4*is made a small gain.
Missouri-Pacific 4s and Atlantic Gulf
& West Indies Ss dropped slightly.
Announcement by Mayor Walker that
New York City would operate its own
subway system in competition with the
Brooklyn-Manhattan Transit and the
Interborough Rapid Transit Cos. caused
a general decline in traction issues. In
terborough refunding 5s were off >/ 2
point in heavy volume. Hudsort-Man
hattan refunding 5s and income 5s were
also lower. Hudson-Manhattan is a
railroad, strictly speaking, since it
comes under the supervision of the In
terstate Commerce Commission, but its
bonds usually move with the tractions
owing to the local nature of its traffic.
• »
GRAIN MARKET
CHICAGO, April 5 (Special).—The
wheat market showed considerable
strength today under general buying led
by Eastern houses. The forecast for
generally fair weather in the South
west over the week end was the bullish
factor and discounted the effect of the
weak Liverpool market. May opened 1
1.14% to 1.15%, July. 1.15V* to 1.15%; I
September, 1.17% to 1.17%. After first
half hour May. 1.15%; July, 1.16 Vi;
September, 1.18%.
Corn was firm with wheat. May
opened 86% to 86%; July, 88% to 88%;
September, 89%- After the first half
hour May, 87%; July, 89 V*; September,
90 V*.
Oats were irregular with some liquida
tion m evidence. May opened 44% to
44%; July, 45; September, 43% to 43%.
After the first half hour May, 45 Vi I
July, 45%; September. 44Vi-
Provisions were unchanged.
Washington Stock Exchange
SALES.
Potomac Electric 5% % pfd.—l at 108 V
i Linotype—lo at 107%.
National Mtge. & Inv. pfd.—loo at 4Vi,
100 at 4%.
AFTER CALL.
Washington Rwy. &■ Elec. 4s—sl,ooo at
88%, SI,OOO at 88%.
Washington Gas 6s B—sloo at 104%,
SIOO at 104 %.
Potomac Electric 5%% pfd.—s at 108%.
Merchants' Bank & Trust Co.—lo at
125%.
Bid and Asked Prices.
BONDS
PUBLIC UTILITY.
Bid. Asked.
Amer. Tel. & Telga. 4'lis ’33... 100%
Araer. Tel. k Tel. 4%s 39 186
Amer. Tel. & Tel. ctl. tr. 5s 104%
Anacostia A Pot. R. R. 5s 83
Anacostia Ac Pot. Guar. 5s 93 .. ..
C. A P. Tel. ot Va. 5s 101%
Capital Traction R. R. 5s 96 96%
City A Suburban 5s 82 .. ..
Georgetown Gas Ist 5s 101
Potomac Elec. cons. 5%... 102 103
Potomac Elec. 6s 1953 106%
Wash., Alex. A Mt. Ver. ctf 3
Wash . Balt. A Annap. 5s 6a
Washington Gas 5s 101 102%
Wash. Gas 6s series A 102% 103%
Wash. Gas 6s series B 104% 100%
Wash. Rwy. A Elec. 4s 87% 88%
MISCELLANEOUS.
Barber A Ross. Inr.. 6%s 89 92
Cham.-Vanderbilt Hotel 6%5... 75 .. ..
Chevy Chase Club 5%s 100
D. C. Paper Mlg. 6s 75
Pot. Joint Stock Ld. Bk. 5s 91 95
Wash. Mkt. Cold Storage 55.... 95
Wash. Cons. Title 6s 80 95
STOCKS.
PUBLIC UTILITY.
Amer. Tel A Telga *265
Capital Traction Co 79 81
Washington Gas Light 123% 132
Norfolk A Wash. Steamboat 273 288
Potomac Elec 6 'r pfd 112% 113%
Potomac Elec. 5%',' pld 108',4 lU9
Wash. Rwy. A Elec, com 600
Wash. Rwy. Elec, pfd 97% 97%
Wash., Balto. A Annap. com... 6
Wash., Balt. Annap. pfd 7
NATIONAL BANK.
National Capital 250 300
Columbia 410 .....
Commercial 236 245
District 215 250
Fedcral-American 292 296
Liberty 208 218
Lincoln <OO 440
National Metropolitan *375 385
Riggs 528 540
Second 200 214
National Bank of Washington.. 250 2GO
TRUST COMPANY.
American Security A Trust C0..*425 435
Continental Trust 127 140
Merchants’ Bank 125% 130
National Savings A Trust 565 580
Union Trust *265 300
Washington Loan A Trust 493 500
SAVINGS BANKS % .
Bank of Bethesda 63 87 *
Commerce A Savings 330 .....
East Washington 24 35
Potomac 65 75
Security Savings A Commercial. 482 500
Seventh Street .•. 305
United States 530 .....
Washington Mechanics’ 50 55
FIRE INSURANCE.
American 325 SSO
Corcoran 150 .....
Firemen’s 40 44
Nattonal Union 25 27
TITLE INSURANCE.
Columbia Title 9 12
Real Estate 165 .. .
Title A Inv. of Md. com 20 30
MISCELLANEOUS.
Barber A Ross. Inc., com 16 18
Chevy Chase Dairy pfd 103 108
Col. Sand A Gravel pfd 98 105
D. C. Paper Mfg. pfd 45 60
Dist. Natl. Securities pfd 90 95
Emerson’s Bromo Seltzer "A”.. 31 33
Federal Storage pld *llO 125
Federal-American Co. com 32 34
Fedcral-American pfd 100 103
LSnston Monotype 116% 117%
Merchants’ Trans A Storage... 1091a 115
Merchants’ Trans A Stor. pfd. 100 103
Mergenthaler Linotype 107% 108
Natl. Mtge. A Inv. pfd 4% 4%
Peoples Drug Stores pfd 107t'a 108%
Real Est. Mtge. A Guar. pfd... 77%
Security Storage 115 118
Ter. Ref. A Whr. Corp 49% 53
The Carpel Corp 26% 29
Wash. Mech. Mtge. com 9% 11
Wash Medical Bldg. Corp 90 100
Woodward A Lothrop pfd 107% 112
•Ex dividend.
Unlisted Department.
BONDS.
Bid. Asked.
Army-Navy Club 5s 90 .....
Cosmos Club 4%s 80
Commercial Club Ist 5s 85
Metropolitan Club 4%s 83
STOCKS.
Anacostia Bank 325
Chapin Sacks 5
Chapin-Sacks 7% Pfd 40
Chapin-Sacks 8% Pfd 101% 108
Connecticut Pie Co 100
Chr. Heurich Brewery 25
District Title Insurance Co 40
Franklin National Bank 165
Munsey Trust Co. . 160
Northeast Savings Bank 20 .....
Park Savings Bank 72 80
Raleigh Hotel Co 50 15
Washington Savings Bank 12 18
Washington Title Ins. Co. .... 8 • • •.•
Washington Base Ball Club.... 45 65
Woodridge-Langdon Sav. Bank. 20
» ■■ . ——
The finest steel made today, it is
claimed, cannot match the steel of the
sword blades made by the Saracens a
thousand years ago.
I
ON NEW YORK ;bonds STOCK EXCHANGE | !|
Received by Private Wire Direct te The Star Office
UNITED BTATEB.
(Sales are in *I.OOO i
Sales. High. Low. Close.
Lib I Vsa 1 100 13 100 13 10013
Lib lat 4 %a. 1 10114 10114 10114
Lib 4th 4%.. 33 101 28 101 25 101 25
U 8 B%a 47.. 3 100 10 100 10 100 10
USHiI 10 104 21 104 21 104 21
U 8 4)4 62... 2 1116 111 6 111 6
FOREIGN.
Sales. High. Low. Close.
Arganttn* 6sJu 69. 4 99% 99% 99%
Argentine 6s Oct 69 4 99% 99% 99%
Argentine 6 Via 62.. 2 9.5% 95% 95%
Argentine 6m A.... 3 99 99 99
Argentine 6a 8.... 3 99% 99% 99%
Australia 4%a 66.. 12 83% 83% 83%
Australia 6a 1966.. 11 91% 91 91%
Australia 6a 1967.. 13 91% 91% 91%
Bank of Chile 6%a. 12 98% 98 98%
Bank of Chile 6% a. 6 98% 98% 98%
Belgium 6a 12 102 V, 102% 102%
Belgium 6%s 10 109% 109% 109%
Belgium 7a 1955... 6 112% 112% 112%
Belgium 7a 1966... 23 108% 108%. 108%
Belgium 7%a 28 115% 115% 115%
Belgium 5a....... 10 110% 110% 110%
Bolivar 7s 68...... 2 81% 81% 81%
Bolivia 7a ct 69.... 3 81 81 81
Bolivia ta 5 97 97 97
Bordeaux 6s 2 103% 103% 103%
Brazil B%a 1926... 13 87% 86% 87%
Brazil 6%s 1927.... 13 87% 86% 87%
Brazil 7a 3 92 92 92
Brazil 8s 6 100% 100% 100%
Bremen State Ta. .. 4 102 101% 101%
Canada 6a 1921 4 100% 100% 100%
Canada 6* 1962 2 104% 104% 104%
Chile 6a 61 4 92% 92% 92%
Chile 7s 1948 7 102 101% 101%
Colombia 6a Jan 61. 5 81% 81% 81%
Copenhagen 4% 62. 8 92% 92% 92%
Cuba 6%s 26 100 100 100
Czecho 8a 1951 3 110% 110 110%
Czecho 8a 1962 4 110 110 110
Danish Munlc 8a A. 1 109% 109% 109%
Denmark 4%s 35 93 92% 92%
Denmark 6%a 65. ._ 19 101 _ 101 _ 101 _
Denmark 6a 1 105 “ 105 105
Dutch East 147 3 102 102 102
Dutch East I6s 62. 7 103 102% 103
El Salvador 8s 41.. 6 105 105 105
Finland 6%a 3 91% 91 91
Finland 7s 3 100% 99% 100%
Framerlcan 7%5... 4 108% 108% 108%
French 7s 42 118% 117% 118%
French 7%s 6 123 122% 123
German Bank 6s '2. 2 92 92 92
German 7a 65 108% 108% 108%
Gar Gen Elec 75.... 6 104 104 104
Greek «a 1968 26 88 87% 88
Haiti 6s 4 95% 95% 95%
Hungary 7%a * 5 103 103 103
Irish Free State 6a. 10 97% 97% 97%
Italy 7a 8 100 99% 100
Italian Pub S 7a.... 26 96% 96% 96%
Japanese 4s 1 97 97 97
Japanese 6%a 120 104% 103% 104%
Jugoslavia Bank 7a 12 84% 84% 84%
Karstadt 6s 1948... 6 79% 79% 79%
Kreuger&To’l 6s ct. 62 99% 99% 99%
Lyons 6s 4 103% 103% 103%
Marseille 6s 1 103% 103% 103%
i Mexico 4s 10 asnt.. 12 12% 12% 12%
I Milan 6%s 17 93% 93% 93%
Netherlands 6s 72.. 1 104% 104% 104%
New So Wales 68... 3 fcß 88 88
Norway 6s 1963.... 5 99 99 99
Norway 6%a...... 3 101% 101% 101%
Norway 6s 1943.... 1 103% 103% 103%
Norway 6s 1944.... 10 104 103% 103 -
Orient dev 5% 68... 3 92% 92% 92%
Orient Dev'tnt 6s 68 49 100 99% 100
Parts-Ly-Med 6a... 11 102% 102% 102%
Parts-Ly-Med 7e... 1 104% 104% 104%
Paris Orleans 6%5. 2 101% 101% 101%
Peru 6s 1960 20 80% 80% 80%
Poland 6s 40 6 79% 79% 79%
Poland 7s (rets)... 7 87 86% 97
Poland 8s 6 97 97 97
Porto Alegre 8a.... 1 98 98 98
(Queensland 65..... 5 101 101 101
Queensland 7a..... 2 108 107% 108
Rhinelbe Un 75.... 4 107 107 107
Rhine Wst EP 6s 63 3 92 92 92
Rhine West 6s 63.. 40 92 91% 91%
Rio de Janeiro <%a 5 82 82 82
Rlode Jan 8s 1946 21 104 104 104
Rio Gr do Sul 6s 48. 6 77% 77% 77%
Rio Gr Do Sul 85... 9 102% 102'% 102!,
Rome 6%* 5 93% 93 93
Sao Paulo 1960.... 5 100 99% 100
Seine 7s 42 18 108 107% 107%
! Serbs Cr Slov Ts... 5 86 86 86
Serbs Crot Slo Ba.. 6 97% 97% 97%
Solssons6a 1 102% 103% 103%
Sweden 6%s 1 104% 104%J04%
Swiss 6%s 1946.... 1 1041% 104% 101%
Swiss Confed 8a... 3 107 107% 107%
Toho El Pow 6s 82. 16 99% 99% 99%
Toklo 6s ft 81% 81 81
Toho El Pow 7a.... 1 100% 100% 100%
Toklo 6%s 1981.... 14 93% 93 93
lltd Klngm 6%a *7. « 104% 104% 104%
Uruguay 6s 1960... 7 9r% 98% 98%
Vienna 6s 62....... 12 89% 89% 89%
i Warsaw 7s 62...... 4 83 82 83
I Yokohama 6a 12 98 97% 97%
MISCELLANEOUS.
! Alleghany Cp 6s 44 49 103'% 102% 103%
j Alleghany 6s 49 3 103 102% 102%
Allis Chalmrs 6s ’37 6 101% 101% 101%
Am Beet Sugar 6s 31 1 87 87 87
AmChem 6%sev 49 84 107% 107 107
Am Nat Gas 6%s 43 2 88 88 88
Am Smlt A R Ist 6s 1 101* 101% 101%
Am Sugar Ref 6a.. 3 103% 103% 103%
4m TAT cv 4%s 3H497 190% 185 190V*.
Am Tel&Teleg 65’65 54 103% 10.3% 103%
j AmT ATcltr 65.. 20 105% 104% 105%
Am T A T s f 6a.... 10 103% 103% 103%
A m Tel A Tel 6Vi .. 13 107 107 107
Am Water Wks 6s. 1 101 101 101
ArmourACo 4%s 39 9 90 90 90
Armour Del 6%5... 10 84% 83% 84
Associated Oil 65.. 2 102% 102% 102%
Atl Gulf 6s 69 5 78 77% 78
Atlantia Refln 6a... 1 102 102 102
Bell Tel Pa 6s 8.... 3 105 104% 105
Bell Tel Pa 5s C.... 4 107% 106% 107%
Bethlehm Stl pm 6s 9 101% 101% 101%
Beth Steel rs 68.... 2 104% 104 104%
Chile Copper 65.... 9 97% 96% 97%
Col GAEI 6s May 62 9 102 101% 102
Com Invest 5%s 49. 5 96% 96% 96%
Con Coal Md 55.... 7 57 56% 57
Con Gas N Y 6%5.. 7 106 105% 105%
Cuban Am Sugar Is 2 100 100 100
Den Gas 5a 4 101% 101% 101%
Det Edison 6s 5 107 106% 107
Dodge 65.......... 12 97 96% 96%
Duquesne «%* 67.. 11 100 99% 100
Gan Mot Ao Cor Cs. 3 103% 103 10.3
Gen Pub Serv 5%5.. 4 101% 101% 10144
Goodrich 6%a 5 107 107 107
Goodyear 6s rets... 14 95% 95 95%
Humble OA R 6%a 1 101% 101% 101%
111 Steel 4%a 40 10 99% 99% 99%
Inlai d Stl 4% s 78.. 10 94% 94% 94%
Inti Cement 6s 46.. 10 100% 100% 100%
Inti Match 6a47... 12 99% 98% 99%
Int Mer Mar 65.... % 100% 100% 100%
Inter Paper 65..... 3 92 91 91
Int Tel A Tel 4 Via.. 21 92 91% 92
Int Tel&Tel «%scv 61 123% 122% 123%
’ntl Tel ATM 6s ’66. 20 97%, 97 97%
Kan City PA Lt 6a. 2 104% 104% 104%
Kan O A E6e 52 ... . J 105% 105% 105%
Kendall 5%s (8 war 1 92% 92% 92%
foiutarc Nitrate 6s 38 87% 84% 87%
LlggejAMyers 6s 61 2 103% 103% 103%
Liggett A Myers 7s 4 120% 120% 120%
Loew’s. Inc Sa 6 120% 119% 119%
Loew's 6s w o war. 3 98% 98% '98%
Lorlllard 6s 1 89% 89% 89%
Lorillard 6%s .1 93% 93% 93%
Midvale Steel Ss... 14 101% 101% 101%
Montana Pow 43... 6 102% 102% 102%
Montana Pw deb 6s. 1 101 101 101
Nat Da rv 6%a ... 46 100% 99% 100%
Nat Radiator 6%5. 2 25% 25% 25%
NYGA EH P 6s. . 3 107% 107% 107%
NY Tel 6s 41 24 106% 106% 106%
No Am Ed 6%s 63. 6 102% 102% 102%
Nor Ohio TrAL 6s. 5 101% 101% 101%
Nor States Pow 6a. 1 101% 101% 101%
Nor States Pow 6s<- 3 106% 106% 106%
Pacific Gas AEI 6a. 4 102 102 102
Pan Amer Pete 65.. 5 102% 102% 102%
Peoples Gas 6a.... 2 103 103 103
Phtla Co 5a 67 12 100% 100 100
Phila A Read 65’49 68 101% 101% 101%
Phillips Petro 6%5. 8 95% 95 15%
Por Rlc Am Tob 6s. 4 95 95 95
Postal Tel AC 6%s 8 94%'. 94 94
Pub Serv G 4%s ’67 4 98 98 98
Pub Serv Gas 4 Vis. 3 97% 97% 97%
Remington Ar 6s $2 8 97 97 97
Rem Rnd 6% war.. 18 100% 100% 100%
Richfield 011 6s 44.. 12 97 96% 97
Sinclair 011 6a 15 100% 100% 100%
Sinclair 011 6Ha... 2 102% 102% 102%
Sinclair Oil 7s 9 104 103% 104
Sinclair Cruds 6Vis 18 100% 99% 100%
Sin Pipe Line 65... 2 98% 98% 98%
Skelly Oil 6ViS 1 95% 95% 95%
South Bell Tsl 65.. 11 103% 103% 103%
Stand Oil N J 46.... 2 103% 103% 103%
Stand Oil N 7 4%5.. 1 97% 97% 97%
1 Sug Es Orient 7a..» I 39 39 39
Taira Cop 6a B 44.. i 9 101% 101% 101%
/ •.* '
■ales Rich Low. Clos*
Tenn ElecPow6s 41 JO 106% 106% 106%
TaxCorpewta 19«« 2 104% 104% 101%
Transcontl Oil 6%a 3 102 102 102
United Drug 12 97 96% 96%
U 8 Rub lat rs 6a. . 20 87% 87% 87%
U 8 Rub 7%s 2 100% 100% 100%
Utah PowA L.t 6a.. 7 100% 99% 100%
Utllltlea Pow 6%a.. 1 92% 92% 92%
Walworth «a 46.... 1 91% 91% 91%
War Qulnland 6a •«» 2 88 87% 87%
Western Eleo 6a. .. 5 103% 103% 103%
Waatn Union 6a61. 10 103 103 103
Weatn Union 6%5.. 7 109% 109 109
WlUya-0v«%a11.. 1 101 101 101
Wilson ACo lat 6a. 1 101% 101% 101%
Win Repeat Ar 7%a 1 103% 103% 103%
RAILROAD.
At & Bir 4a IS 1 88% 88% 88%
Atchison gen 4a... 12 94% 94% 94%
Atch deb 4%s *48... 32 139% 138% 139%
Atlantic CL lat 4a. 10 92% 92% 92%
Ualto&Ohlo gold 4a. 9 93% 93% 93%
B&Oct 4%a 27 100% 100 100
840 4 %s cy 60. . 144 104'% 103% 104
B & O rs 6a 5 102% 102% 102%
B A O 6a 2000 D.... 1 102% 102% 102%
B & O Ist 6s ct 1 105% 105% 105%
B AOrf Imp 6a.... 6 110 110 110
B&OSW 6860 2 103% 103% 103%
RangA Aroos 4s 61. 1 88 88 88
Boston & Maine 6a. 13 100 99% 99%
Bklyn Blew. 6%a... 23 95% 94% 95%
Bklvn Manhat 65. .. 14 99% 99% 99%
Bklyn Un El 5a 60.. 2 88 87% 88
Buff R & Pitta 4Ha. 4 94 93% 94
Bush Term con 6a. . 2 97 96% 97
Can Nat 4%s *67.... 2 96 96 96
Can Nat 4%a'68... 5 96 96 96
Can Natl 6s July '69 5 102% 102% 102%
Can Natl 6s Oct '69 21 103 102% 102%
Can Pac deb 4s 40 87 86% 87
Can Nor 4%a 1936.. 3 100 100 100
Can Nor 7a . 2 111% 111% 111%
Can Pacific ctfa 6a. 16 103% 103% 103%
Cent of Ga 6a C 69. 15 100% 100% 100%
Cent Pac Ist 6a 90.. 8 103% 103 103%
Ches & O Corpn 6a. 26 100% 100 100%
Ch &O 4 %a B 1996. 60 97 96% 96%
C8&Q4%5778.. 2 98 98 98
Cht&E 111 gn 6a 61. 3 82 81% 82
Chi Gt West 4s 69.. 11 71 70% 70%
CM& St P Cen 89.. 8 85% 85% 85%
Chi MilSPAPac6s7» 67 94% 93% 93%
CMSP&Pac adJ6sOJ 50 73% 73 73
Chi N W 4%a 203 T. 1 99 99 99
Chi & N W con 4%s 39'102% 102% 102%
Chi * N W 7a 1 100% 100% 100%
Chi Rye 6a 3 78V* 78% 78%
Chi R1& Pgn 4a... 10 90 90 90
Chlßl&Prf 4a... 34 97% 97% 97%
Chi R1 & P 4%a..„ 6 95 95 95
Chi T H Inc 6a 60... 12 91% 91% 91%
Chi Un Sta 4%a.... 38 99 98% 99
Chi Union Sta 6s 44 1 102% 102% 102%
Chi Union Sta 6% a. 2 116 116 116
CAW Icon 4a 9 90 90 90
CCCAStL 4% a E... 20 97% 97 97
Clev Term 4%5’77 6 98% 98% 98%
Clev Term 6%a. ... 4 108% 107% 107%
Colo A Sou 4%# ... 6 100 100 100
Conn Ry ALt 4%a. 1 96 96 96
Cuba RR 6s 3 81% 79% 79%
Cuba Nor 6%s eta.. 10 64 64 64
Del A Hud lat rs 4a 1 93% 93% 93%
Den A Rio Ocn 4a. . 9 95% 95% 95%
DenAR G W 4%s 36 3 99% 99% 99%
DR 6 & Wat 6a 65. 13 98 98 98
Brleconv4sA 3 84% 84% 84%
Erie conv 4s B 2 84% 84% 84%
Erie Gen 4a 1 82% 82% 82%
Erie cr 6s 67 12 96 95% 95%
Erie conv Ex 7a.... 2 101% 101% 101%
Fonda JAG 4%s 62. 1 33% 33% 33%
Gr Trunk at db 6a. . 2 106% 106% 106%
Gt Nor 5a 2 107 107 107
Gt Nor cen 7a 4 111% 111% 111%
Green BA W deb .. 10 32 32 32
Hud A Man a) 6a... 2 81% 81 81%
Hud A Man ref 6a. . 6 97% 97% 97%
111 Cent ref 4s • 1 92% 92% 92%
111 Cent 4s 63 2 88% 88=<i 88%
111 Cent rs 6s 65.... 10 105% 105% 105%
111 Cent Chi 4% a... 2 97% 97% 97%
Int Rapid Trans 6a. 7 73 72% 73
Int Rap Tr 6s stpd. 19 72% 72% 72%
Int Rapid Trans 6s. 7 60% 60 <O%
Int Rapid Trans 7a 3 92 91% 91%
Int A G Nor 6s 1956 5 96 96 96
Int AG Nor sll *B. 2 86% 86% 86%
Int RysC A6s 41..- 2 93% 93% 93%
Int RysCA 6%src. 2 97% 971 s 97%
Kansas City S 6a... 17 102 101% 102
Kan City Term 4a. 2 90% 90 90
Lake Shore 45‘11.. 2 99% 99% 99%
Lehl Val cn 4a 1 89% 89% 89%
LoulsANash nul 4a. 2 95% 95% 95%
Louis A Nash 6%a. 5 106% 106% 106%
Louis A Nash 7a... 1 100% 100% 100%
Market St 7a 40.... 1 95% 95',4 95%
Mil El Ry AL6a 61 22 101 100% 100%
1 Minn A StL ref 45.. I 13 13 13
MSt PASSM cn 4s. 2 90%, 90 90
MStPASSM 6s gtd. 1 98 98 98
MSt P A SSM 6 %s. 6 101% 101 101
Mo Paclflo sen 4a.. 10 80% 79% 80
Mo Pac 6a A 65 2 101 101 101
Mo Pac 6a F 77.... 41 100% 100 100
Mo Pac 6sG 76.... 23 100% 99% 100%
Mo Pao 6%» 49 evt. 4 113% 113 113%
Mob A O 4%a 77... 5 97 97 97
Mont T’rm raf 6a 41 5 98% 98% 98%
NO Tex AM 6s A.. 1 99 99 99
N O Tex AM 6s 8.. 3 98% 98% 98%
• NVTAM 6% a. .. . 9 102% 102% 102%
NT Cent 4s 98 4 91% 91 91
N T Cen rs 6s 8 107 107 107
N T Cent deb 65... 1 107 107 107
NTCA St L deb 4a 10 99% 99% 99%
N V C A StL 6%s A 18 107% 106% 107%
NT C A StL 6%s B 3 107 106 v* 106%
NTCA St L 6s'3l, 6 101% 101% 101%
NTNH AH 4a 67. 9 79% 79% 79%
NY N HAH 4%a67. 22 94% 93% 94%
NT NHAH e> db 6a. 13 132 132 132
N y Ont W lat 4a..-. 2 60 60 60
• N Y State Ry 4%a.. 3 18'% 18% 18%
t NTWAB4%s.... 2 90 89'% 90
f Nor A S gen 5a 64. .• 2 75% 75 75
, Norfolk AW cn 48.. 4 94% 94% 94%
Nor Pao 3a 3027.... 3 67% 67% 67%
Nor Pac rs 6s 2 113 113 113
Penna gen 4%a..... 8 100% 100% 100%
Penna 444 a 61 9 100 99% 100
Penna gen 6a...... 3 108 108 108
. Penn 6a '64 5 104 104 104
Penna 6%s 1 109% 109% 109%
Pa Ohio A Det 4%a. 2 98 97% 98
Pefe M 4%s 1980 wl 31 97% 97% 97%
Pere Mara lat 6a... 7 104% 104% 104%
Port RLP 6a 47... 1 99% 99% 99%
Reading gen 4%s A 5 99% 99% 99%
Rio O West Cl 48... 6 87% 85% 87%
S* L IMAS RAG 4a. 1 97% 97% 97%
SAL&SF gen 6s 81.. 1 100% 100% 100%
St us« -on 4a SS. 2 98% 98% 98%
StP* KCShL4%B. 1 97% 97% 97%
Seab A L4s ata.... 6 70% 70 70
Seab ALadl 6s 4#.. 9 60 59% 60
Seab Al. con 6a... .. 19 76 75% 76
S B All Fla 6s ’65 A. 4 68 68 68
Sou Pac ref «s 9 93 92% 93
So Pac 4%s "69 *«• 12 100% 100 100%
' Sou Ry 6%s 1 123% 123% 123%
i Texas A Pacino Ist. 2 110 110 110
, Tex A Pac 6s C 79. . 3 102 102 102
Third Ave ref 4s 60 7 50% 50% 50%
| Third Ave ad) 65... 10 30% 30% 30%
i Union Pac 4s 6*.... 3 90 90 90
i Union Pacino lat «a 1 95% 95% 95%
i Un Pac lat rs 4a.... 2 91% 90% 91%
i Union Pao 4%a.... 32 99% 99% 99%
1 Virginia Rr let 65.. 6 105% 105 105
i Vy Ry AP 6a 20 101% 100% *lOl%
‘ Wbasb 4%s 71 rets 9 93% 93% 93%
Wb&sh 6a 76 B 3 101 100% 101
: Wabash 2nd 6s 1 101% 101% 101%
• West Maryland 48. 10 82% 82% 82%
i West Md 6%s 77.... 5 99% 98% 98%
i Wls Cent cn 4s 46.. 6 81% 81% 81%
i
NEW YORK COTTON.
NEW YORK. Ap il 5 (Special).—
, Though cotton prices broke sharply $2
a bale late Friday, there was no change
in the general situation and tightness
, in old crop months proved the feature
of trading on the Cotton Exchange to
day. May widened its premium over
old crops to the heaviest figures of the
season and sold within two or three
i points of July.
Steady covering of hedges In May
and July caused a 10-point advance in
• those months compared with a loss of
5 to 10 points In the next crop. Near
i months closed at the top and distent
positions at the bottom of the session.
Spots were advanced 10 points to 16.70.
i cotton range:
■ Open. High. Low. Close.
: ;iav 16.37 16.53 16.30 16.50
1 ffite-m::: IMS ittt If*
t October, new.... 15.51 15.58 15.46 15.48
i December, 01d... 15.90 15.95 15.77 15.85
1 Decern >*r. new.. 15.65 18.70 15 54 15 60
Janusry. old ... 15.91 15 95 15.91 15.95
t January, new... 15.71 15.79 15.83 15.70
• Marsh 15.92 15.80 15.90
A
FINANCIAL.
CONDITIONS SPOTTY ,
IN CHICAGO AREA
Federal Reserve Bank Sums
Up Situation Prevailing
in Seventh District.
Special Dispatch to The Star.
CHICAGO, April 5.—A continuance
of trends operative in the first month
of the year was manifest through Feb
ruary In businals and financial condi
tions in the seventh district.
Reserve bank credit in use declined
further, principally in the item of re
discounts for member banks. Both se
curity and commercial loans of member
banks gained, but totaled less than last
year at the same time. February vol
ume of check payment was smaller
than in January or a year ago. Com
mercial paper sales and transactions
in bankers’ acceptances have beep un
usually heavy. Money rates in Chicago
the middle of March were lower than
a month previous.
Steel Industry Active.
In manufacturing lines, the steel In
dustry maintained a high level of
operations during February, the rate of
output exceeding that for the United
States as a whole; steel foundry opera
tions, however, have been declining.
Automobile production and distribution
again showed improvement, though re
maining considerably below the level of
a year ago. Building activity continued
exceptionally low in February, and the
furniture industry manifested no bet
terment aside from a seasonal expan
sion in shipments. Industrial employ
ment increased, but was still under last
year.
Distribution of commodities was
smaller in general this year than in
February, 1929, the volume of trade at
department stores and in most whole
sale lines showing declines in the com
parison, although chain store sales con
tinued heavier in the aggregate and
retail shoe and hardware trade were
larger. As compared with January,
trends were mixed in wholesale trade,
and department store sales declined.
Grain Receipts Are Light.
In agriculture and its products may
be noted the continued small movement
of grain, although wheat receipts at
markets gained slightly over January.
Production and sales of packing-house
products and those of butter were un
der a year ago and less than in the
preceding month. Despite further re
duction in butter inventories during
February, stocks remained exceptionally
heavy.
A survey of business failures in the
district reveals notable increases in
number and liabilities during the past
four months over corresponding months
of 1929 and in comparison with October
of that year, in which month occurred
the break in the securities markets.
The demand for commercial loans in
Chicago has increased somewhat during
the past four weeks, although it is still
less than last year. Security loans on
March 12 reached their highest level
this year, upward trend having been
operative since the low point on Feb
ruary 11. The present level, however,
is now slightly under that of a year
ago.
Corporation News
NEW YORK, April s.—The following
is today's summary of important cor
poration news, prepared bv Standard
Statistics Co., Inc., New York, for the
Associated Press:
News Trend.
Mercantile reviews of the week point
out that some phases of the commercial
situation have taken on a more def
initely encouraging aspect. Indications
of betterment are both more numerous
and distinct. Expectations, however,
are tempered by existing restraints, and
only a gradual revival is looked for.
Wholesale and jobbing lines continue to
show moderate improvement, while the
retail trade has been affected by the
irregular weather and the later Easter
season.
Bank clearings in 23 leading cities of
the country for the six days ended April
3 totaled $12,799,'799,000, or 3.1 per cent
below the corresponding week a year
ago. which included a holiday. At New
York City clearings were $9,295,000,000,
or only .02 per cent under the total for
■ the 5 days a year ago. For the princi
pal centers outside of New York the
total is $3,504,799,000, a reduction of
• 9.9 per cent. The sharp contrast in the
declines shown by New York clearings
, and these outside of New York can be
, traced to the increased stock market
activity of the past week. Compared
with 1929. transactions were about 25
per cent larger.
Prominent in the corporation news
, of the day were the announcements of
, merger negotiations by Melville Shoe,
Warner Bros.’ Picture, Llbbey-Owens
Glass and United Fruit.
, The Companies.
Altofer Bros, declares extra dividend
of 65 cents on common stock in addi
« tion to regular quarterly dividend of ,
35 cents.
Aluminum Co. of America—Federal
i Trade Commission dismissed Its com
i plaint against Aluminum Co. of Amer
ica, charged with violation of Clayton
. act.
Botany Consolidated Mills had deficit
of $2,764,983 in 1929, against deficit
of $1,459,928 In 1928.
Columbia Gas & Electric to separate
1 oil and gasoline properties constituting
industrial operation of subsidiaries by
‘ creation of new company, to which Co
-1 lumbia Gas & Electric would transfer
1 all stock and indebtedness held by lt
i in each of these subsidiaries. Common
‘ stock of new corporation would be
placed in 10-year voting trust certifl
{ cates which would be distributed to
present common stockholders of Co
' lumbia Gas & Electric in ratio of one
voting trust certificate for each five
common shares held. New company to
issue to Columbia Gas & Electric, in
addition to common stock. 337,500
shares of $6 first preferred and 337,500
shares of $6 second preferred, both
; issues cumulative.
Dominion Stores sales four weeks
ended March 22 up 3.2 per cent from
year ago; 12 weeks' sales up 3.8 per
' cent. _ .
> Ford Motor exported £.660 tractors
from Fordson plant in Cork, Ireland, in
, first two months of 1930; 3,876 were
, shipped to New York. •
Ford Motor of Barcelona, controlled
by Ford Motor, Ltd., declared dividend
of 10 per cent on capital stock. Profit
» for 1929 totaled 4,859.179 pesetas,
i General Motors Chevrolet to Intro
duce special sedan priced at $725.
■ Gibson Art earned $4.42 on common
i stock in fiscal year to February 28, 1930,
\ against $3.94 in like previous fiscal year.
■ Grand Union sales 13 weeks ended
March 29 up 17.6 per cent.
F. & M. Grand March sales oft 6.4
per cent from year ago; three months’
sales up 6 per cent.
F. & W. Grand-Silver March sales off
l 3.5 per cent from year ago; 3 months
. sales up 8.4 per cent.
Isaac Silver & Bros. March sales up
4.5 per cent from year ago; 3 months
sales up 14.9 per cent.
Island Creek Coal March output ap
, proximately 365,000 tons, compared with
I 414,352 tons in February and with
462,740 tons in March, 1929.
Llbbey-Owens Giass reported planning
merger with Thatcher Manufacturing.
Melville shoe negotiating for acqui
. sition of Travelers Shoe Stores Corpora
tion.
Nevada Consolidated Conner earned
$3.60 on common stock In 1929, against
$3.13 in 1928.
David Pender Grocery March sales
i up 1.2 per cent from a year ago; 3
months sales up 5.3 per cent.
I Fierce Arrow Motor Car sales to dis
; tributors in first quarter of this year to
-1 taled 2,244 passenger cars, an increase
; of 26 per cent over sales In same period
i of 1929.

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