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A-14 BONDS ARE LOWER ON TIGHTER CREDIT Hardening of Time Money Rates Causes Easing in Prices. BY F. H. RICHARDSON. Special Dispatch to The Star. J7EW YORK. July 21.—Under the in fluence of a tightening of money con ditions, under which 90-day time money went to 3 to 31* per cent, bonds ranged slightly lower today. The losses were merely fractional in mast parts of the list.’ Volume was slightly above that of ihe later sessions of last week. New capital l sues for the day totaled only $17,000,n0n. consisting of that amount of Pacific Power & Light Co. first mortgage and prior lien 5 per cent bonds priced at 96 to yield about 5.29 per cent. The municipal market was cleared of new offerings for the mo merit and there Has a .sharp demand for what the dealers had left on their 1 shrives. so that this part of the mar ket saw a marking-up process, par ticularly in the second-grade mu nicipals. The tendency in money rates was re flected by the prime group with small fractional losses in Atchison general 4s. Canadian National ss. Canadian Pa cific 4s. Fisco -A" 4s. Northern Pacific 4s. American Telephone 5%5, fatandaid Oil - of New' York 4 ! 2 s. Standard Oil ol wom Jersey ss, Western Union 5s and American & Foreign Power ss. There was still a heavy investment inquiry for prime public utility bonds and. as a con sequence, such issues as Duquesnc Light 4’ s and Philadelphia Co. 6s made small attwinces against live general trend ol tl convertibles lapsed into a stagnant state. For tire most part the actively traded issues, such as Baltimore vXs Ohio litst, 4s, American International Commercial Investment Trust a 2 s, Atchison 4 1 .s, American Telephone 41,5. international Telephone 4 ’ 2 s, Texas Corporation ss. General Theateis equipment 6s and Warner Bros. Pic tures 6s, sold off fractionally. Ameri can I. G. Chemical 5! 2 s and Southern Pacific 4' 2 s advanced. Junior rails were loss active than of late with small losses shown in Chicago & Eastern Illinois ss. Chicago Great Western 4s, Denver & Rio Grande Western ss. International Great North ern adjustments, ’Frisco 4' 2 s and Western Maryland 4s. Industrials arted stmiiarlv. International Paper 5.% Na tional Dairy Products 6',s and Good year 5s were down. Hudson Coal 6s gained in response to estimates of im proved earnings. .—— • Washington Stock Exchange SALES. Capital Traction Co.—l at 6 ?- 5 "L 65, -■5 at- 65. 30 at 65, 30 at 60. 10 at 6a. N <fc W. Steamboat rts wi.—4 at 16. Fed.-Anier. Natl. Bk.—lo at 275. Mrrgenthalcr Linotype—2 at 97, 10 at 97. AFTER CALL. Wash. Gas 6s A—ssoo at 102%. Wash. R. & E. pfd.—l Oat 98 V W3sh. R. & E. 45—55,000 at 87 V X. <fc W. Steamboat rts wi.—2 at 16‘ 2 . Cap Tract. 5s —$3,000 at 93. Wash. Gas 6s A—ssoo at 102' *. Pnt. Elec. 5«2% pfd.—s' at 108 Cap. Tract. Co.—lo at 65V 10 at 65',4. ■ 7at 65 1 2 , 4at 65V*. 10 at 66. 20 at 66. 10 at 66. 15 at. 66'4. 10 at 66 V Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tr). A Telga. 4* is ’33 . 100 Amer. TCI. & Tel .V 2 , loVa Am. Tel. & Tel. cU. tT. 5s 1 j •■••* Anacostia * Pol. R- R. 5* •••" Aaecoftia & Pot. vuer. 5s C* *P. Tel of Va. s*. 182 t gs'' Capital Trartion R. R. 5* 9- a 96 Cltv & Suburoan 55... ,5?, Seorgetown Gas Ist 5s ™>’ 2 104 Pfltomsc Eire con >.5- "t ' Potomac E!cC- 6S !9.’3 lU7 w« .li., Alev & Mt. Vernon ctf. 6 Wash . Balt. & Annap. os Washington Gas 5 s JE Wash Gas 6s. series A J iofiij ! Wash. Gas 6s. senes B IJa W ! Wash. Rwy. A Elec. 4s 88 2 >* MISCELLANEOUS. flarher A Ross. Inc.. 6%s "° CH»pvy chste Club 5 ,’S- mn Pi C Paper Mfs. 6s 28 I W M. Cold Storage 5s inn"' Wasn. Cons. Title 90 100 STOCKS. PUBLIC UTILITY Amer Tel * Tel. HIM. 215’. ..... Car >al Traction Co. '4) .52 2 i We h Gas Lt. Co. <lß> . .... 1-1 '*7 M' A W Steamboat <dl2>. 2la 255 W, & W. Steamboat rts wi 6 j 8 - Pot Elec. Pow er 6<• Pf® ■ J'' 1 , * ‘if Pet Elec. Power s’a - Pfd 2 1)8 ! Wash. R - y A El com. II ... . SaO •• • W.ish. Rr A Elec Pfd. 't* l 98 * ! Wash.. 'Bal’o. .V Annap com... a . ... Wan„ Balto. A Annap. pld 5 NATIONAL BANK. Capital <l4t 23(1 250 , CMnimbia <l2l .■•••.„• 226 240 ! am 21? «« I *Ci»rai'-Amertca'ii iio» 2*’ 228* 1 \v,\ ’So 440 i BSIW it::::::::::::::::: j| » Washington ti3i - 45 260 TRUST COMPANY. Amer. See A Trust Co. (15).... 3RO 415 ; Continental Trust *•*........... 130 i«o Mercnants Bank A Trust 6'-. '2a ..0 National Savings A Trust <l2*t. 54a 53a Prince George, Bank A Trust.. 34 40 Union Trtist 'R5' ........... ■ 243 •'* Washington Loan A* Trust «14i. 465 510 SAVINGS BANK. Bank of Bethesda 39 85 Commerce a Savinas (10) 330 ..... East Washington (12* 25 sa Potomac 110) Jb aa Ferurity Sav A Com Eank (li) 4.1 500 Seventh Street 'l2) 315 United States '3Ol .a3O Washington Mechanics (20).... oO FIRE INSURANCE. American 'l2) 315 ..... Corcoran (10). 150 200 Firemen's <R• j|s% 40 National Union (ISi 22 26 TITLE INSURANCE. Columbia '6h> ,1? B-al Estate (6h> 135 J.fi Title & Inv. Co. Mri. com 20 30 MISCELLANEOUS. Barber * Ross. Inc . eom 15 1R Chew Chase Dairy pfd (7i 103 100 Col. Sard A Gravel pfd. (7).... RB'« 34 D C Paper Mfg. pfo 10 Dial. Natl Sec pfd. (7) 70 R 5 liner. Bromo-Seiz. "A" (2) 31 33 Federal Storage pfd (8) . . 110 125 Fed -ABI Co. pfd (6> 99 100 Lanatoc Monotype (8i.......... 114 1 5* 118’j Mer Tr. A Stge. com. (10) 104 108 Mer Tr A Stge. pfd. (7> 95'i 99 Meejenthaier I motvpe (gi 96’4 97' j Nali. Htge. & Inv. pfd 5 5',« Peoples Drug Stores ofd '6'j(.. 103 106 Real Bat. MAG pfd. (8) «’•» 7 Security Storage '4ei 112 114 Ter, Ref. A Wh. Corn (3) 47 52 The Carpel Corp M 50' 22’i 24 W' Meeh. Mtge com 'B).. s'a 10 Wash Med. Bldg Corp 93 Woodward A Lothrop pfd. <7'.. 105 112 •Ex dividend y2'je> extra. B Books closed. «3V extra. n2sc extra. h4’, extra. faOc extra. 15V extra. I)'- extra. dFlx rights, el •- extra. m—When Issued. t2'e extra. short-term'securities. (Reported rsy J. A W'. oellgman A Co ) Bid. Offer AUls-Chalmers Co 5s 1937. 101 S 101’. American Tel A Te! s’js 1943 107 5 4 107’. American Thread s'xs IP3R ... 100'4 IOP4 Baltimore A Ohio 4' 2 s 1933 .. inO’4 100'x Batavian Pet Corp. 4‘xf 1942 . 94», 95 Beil Tel of Canada 5s 1957 . . 103 10? 2 r California Pel Coip 5 1 .* 1938. 102*v, 102' 2 Canadian Nor Rvvv. 4V 1935.. 99 :, 4 100 Chicago Rock Island 4s 1934... 98 38'« Chile Copppt Co. 5s 1947. ... 95 U 96 C udahy Packil.n Co 6’as 1937 9fi>. 97'j Cie.) Mot Accen. Corp. sis 1937 102'4 102'4 General Pet. Corp 5s 1940. . 102*4 102'4 o«*n Theater.*, foutp '■ 1210.. 96 96'« < .oodvent T &It 5s 1937 . 93', 93', Grand Trunk cl Canaria 6s 1936 105', ins'* Gulf Oil of Pa 5s 1937 10P, ini’. Humble Cl! 5*2S 1932 101’e 102 l.nterr.at Match Corp 5s '947. 99'u 99**« N Y . Chi &i St Louie 8s 1932. Phili ps Pet Co 5'.? 1939 95 4 96*J Pure 0:1 Corp s' 2 s 1937 99 4 99 2 4 Shell Union Oil Co 5s 1941. 96 4 966a E.nclair Crurie OP Co s'xS 1938 101 3 }Ol’ 4 Standard Oil N Jersey 5s 1946. 103 2 10S» 4 Standard OU N York 4'xS 1951, St L., Ir. Mt. A- So Ry 5s 1931 100’, 101 , St. L.. Southwestern Ry 4s 1932 9jP» 9**4 gw It A Co. 5s 1932 ...•■•■• J 00». 101 Union Oil Co of Calir 5» 1935. 99’s 10 United Dmix Co 5s 1953 97 2 » 98 U. S. Rubber 5s 1947 82’e •» Western Electric Co 5s 1944 .. 103 2 104 Vt 1). ejvn.g Stc-l Coin. s'us 1948 102 , 103 WheelLti Steel Corp. 4'xS 1953. 31’4 »* e* F1 N NCI AL. J ON NEW YORK "BONDS STOCK EXCHANGE | Received by Private Wlra Direct ta Tba Star Office UNITED STATES. are in t 1.000.1 Sales. High. Low. Close. Lib 3H« 22 100 26 100 26 100 26 Lib lot 4Vi». . 6 102 3 1022 102.1 Lib «(h 4 t 4». 34 102 2R 102 26 102 28 r UR SSs’43.. 4 101 20 101 20 101 20 U 8 344 s 1 105 24 105 24 106 24 US 45’44.... 1 108 4 108 4 108 4 FOREIGN. Sales. Hten. Low C1o«e Argentine 5s 4 89 89 89 Argentine 6a Ju *59 18 99 98S, 99 Argentine 6s Oct’s 9 11 99 98t, 99 Argentine 6s A.... 799 U 98W. 99 Argentine 6s 8.... 2 94*4 98t4 98V Australia 414 s *66.. 14 79'-* 78 7 i 78’s Australis 65’55.... 16 89 88b, 889), Australia 65’57 .... 17 89 881, 88H Austria 7s 1 105',4 10314 103 W Bsnk of Chile 6t4s. 6 95 9414 9414 Bank of Chile 654 8. 1 9«'i 9fi' s 96'4 Batavian Pet 4145. 2 95 94b. 95 Belgium 6s 22 104'/4 104'* 104 M. Belgium «V4s 2 109 109 109 Belgium 7s *55 IS 11,*?* 4 11314 113% Belgium 7s *66 19 109 U 109 lo9'-» Belgium 8s 15 110 109% 110 Bolivia 7s ctfs ’69.. 1 72 72 72 Bolivia 8* 187 S S7S 87% Bordeatut 6s 7 log' .. 105% 105 t, Brasil 614* ’76 20 76% 75% 76% Brazil 6Hs '27 20 76% 76 76% Brazil 7s 2 90 90 90 Brazil *s 11 100% 100*4 100% Bremen State 7*... 7 103(4 103', 103% Canada 65'52 3 105% 104% 105% Chile 6s'6o 2 90% 90% 90% Chile 6s *6l 3 90% 90 90 Chile 7s *43 1 101*4 101 *4 101*4 Colombia 6s.Jan *6l 1 75’,» 75*- 75*4 Con Pwr Japan 7s. . 9 100 99% 100 Copenhagen 6s rets 29 98% 98 98% Czeeho 8s *6l 1 110 110 110 Danish Munie 8s A. 1 110 110 110 Danish Munic 8s B. 3 108% 108% 108% Denmark 4 *4s 1 93’* 93% 93% Denmark 6*4*’66.. 5 100% 100>, 100%. Denmark 6s 3 106 .105*4 105% Dutch East Ind* 47. 1 102 102 102 Dutch East I 65’62. 2 102% 102% 102*, Fiat 7s ex war’46. . 5 91% 91*. 91% Finland 7s ti JoO 100 100 Fra mer lean 7*4 ••.. 3 107% 107 H 107% French 7s 30 118% 118% 118% French 7»45. 17 123% 123% 123% Ger 5*4 s’3o-*35 rets 87 88% 88% 88% German Bank 6s '3., 8 90'« 90 90 German 7s 93 106% 106 106% Ger Gen Elec 7s. ... 1 103% 103'- 103'4 Greek 6s *63 6 86% 85% 86'v Hungary 7’4» 1 inn'4 ]OO% 100% Daly 7a 43 98% 98% 98% Italian Pub Svc 7s. 4 96 95% 95% Japanese 4s 10 9714 97% 97% Japanese s >4s *65.. 68 92% 91% 91% Japanese 6%s 13 105', 105 105% Jugoslavia Bank 7s 39 85% 85 85V, Karstadt 6s *43 1 77% 77'4 77% Kreuger&Toll 6s ct 52 95% 95% 95% Lyons 6s 1 105% 105% 105V4 Marseille 6s 6 10 .% 105% 105% Milan 6%s 24 90% 90% 90% Montevideo 7s 6 100% 100 100 Netherlands 6s *72. 14 105% 105% 105% New So Wales *57.x 2 82% 82% 82% New So Wales 68... 7 82% 82 82 Nord 6%s 13 105% 105% 105% Norway 6s *63 28 99% 99% 99% Norway 5 *4s 4 102% 102*4 102% Norway 6s *43 2 105 105 105 Norway 6s *44. ...» 5 105% 105 105 Norway 6%s *52... 3 103% 103% 100% Orient dev 6 % 61.. 41 90% 90 90 Orient Dev 6s 53.. 5 97% 97V, 97% Paris-L.yons-M 6s. 8 104% 104% 104% rarls-Ly-Med 7s. .. 3 105% 105', 105', Parts Orleans 6 V4s. 1 1n4% 104", 104% Peru 6s *6O 12 71% 71% 71% Peru 7s ,*> 93% 93 93 % Pirelli 7s *52 11 104 , 104% 104% Poland 6s *4O 2 74 74 74 Poland 7e (rets)... 14 84% 84% 84% Poland 8a 6 94% 94% 94% Queensland 6e 2 98% 97% 98% Queenland 7s 5 105 105 105 Rhinelbe Un 7s 2 102 102 102 Rhine Wst EP 65*62 16 90 89% 98 P.hlne West6s'63. . 2 89% 89% 89% lvlo de Janeiro 6 %.. 2 73 72% 73* Rio de Jan 8s '46. .. 1 97% 97% 97% Rio Gr du Sul 6s'4B 5 66 65% 66 Rio Gr Du Sul Ss. . 2 95% 95% 95% Rome 6%s 21 91% 90% 91 R’y’l Dutch 4%sww 22 89% 8..% 89% Sao Paulo 6s *36. .. 6 100% 100 100 Sao Paulo *SO 4 93% 93 93 Saxon tPW) 75.... 11 98% 95a* 95% Seine 75'42 9 108 108 108 Serbs Cr Slov 75... 15 87% 86 87% Serbs-Crot-Slo Bs.. 17 96% 95% 96>k Solssons 6s 1 105 105 105 Sweeden 5%s 7 106 105% 106 Swiss 6%s '46 5 106 105% 105% Swiss Conled ts... 6 107% 107% 107% Toho El Pwr 6s *32. 6 99% 99% 99% Toho El Pwr 7s . ... 1 100 100 100 Toklo 5%s *61..... 11 91V* 91 91 Utd Klngm 5%s *37 23 105% 105% 105% Uruguay 6s 60.... 13 96% 95% 95% Uruguay 8s 1 107** 101% 107% Vienna 6s 62 2 86% 86% 86% Warsaw 7s ‘52 2 77 76 76 Yokohama 6s 8 97% 97% 97% MISCELLANEOUS. Abltlbt PAP 5s '63. 1 85 85 85 ] Adams Exp 45'48.. 1 90 90 90 Alleghany Cp 6s 44 3 ]OO% 100 100% Alleghany 5s 49... 52 99% 99% 99% Allis Chaim Ss 37. li 101% 101% 101% jAm Agn Chem 7%s I 103% 103% 101% |Am Chain 6s 33. .. 8 101V* 101 101% :Am For Pwr 5s 2030 6 87% 87% 87% ’Aml G Ch 6%s 49. 16 105 104% 105 !Am Int Cor 6%s 49 1 97% 97% 9.% Am Mstal 5%s '34.. 5 97% 97% 97% 1 Arn Smlt & R Ist 6s 5 102% 102% 10j% I I Am Sugar Ref 65.. 4 103% 103% 103% ;cm T&T cv4%s'39 9 164 163% 164 ! Am T&T 5s '65 62 105% 105% 105% !Am T&T cl tr 6s. .. 2 106 106 106 i Am T&T s f 6s IK 105% 10 .% l()5% Am T&T 5%s 7 107% 107% 107% Am Water Wks6s. 1 101 101 101 Am WrtgPa6s'47. 4 80% 79% 80V* Armour&Co 4%5'39 2 90 89% 90 Armour. De1,6%5.. 12 81% 81V* 81% Asso Oil 6s 4 103 103 103 All Gulf 6s '69 30 74 74 74 At] Refining ss. •• • 10 103 102% 103 Bell Tel. Pa. 6s 1B) 11 107 106% 106% Beil Tel Pa 6s (C). . 6 10c% 10r% 108% Bush Term Bldg 6s 4 Certn-Td 6%s rets. 12 49 47 47 Chile Copper 6s. .. II 96% 95% 9b% Co'.G&EI 6s,May*62 5 102% 102% 102% Colon Oil 6s'3B. ... 2 62% 62 62 Com Invest 6%s 49 34 95 94% 94% Com Invest 6s 48.. 1 99% 99% 99% Con Coal Md, 65... 2 52 51 51 Con Gas N Y6%5.. 3 106% 106% 106% Consumers Pwr 6s. 6 104% 104% 104% Cuban Am Sugar 8a 1 94 94 94 Det Edison 6s *40.. 1 104%’104% 104% Del Edison 6s 2 106% 106% 106% Dodge 6s 16 91% 91% 91% Duquesne 4%s *67. 11 101% 101% 101% East Cuba Sug 7%a 1 56% 5u% 66% Gen Cable 5%s *47. 20 98% 98 98 Gen Mot Ac Cor 6s. J 4 102% 102% 102% Gen St Cast 6%5’49 2 101% 101% 101% Gen Thea Eq 6s *4O. 31 96% 95V* 96% Goodrich 6 %s. ... . 4 106% 106% 106% Goodyer 6s rets.... 16 93% 93% 93% HumbleO* R 65.. 5 101% 101% 101% Humble O&R6V»s 5 101% 101% 101% JU Beil Tel 6s 1 105% 105% 105% 111 Steel 4%5-40. . . 5 101 100% 101 Inland Steel 4% *7B 36 95 94% 94% Inti Cement 6s 48.. 6 101 100% 100% Inti Match 6s *47... 29 99% 99% 99% Inti Paper 55*47... JX 85% 84% 84% lntl Paper 6s I XB% {BB% 88% Inti Tel * Tel 4%5. 12 91 91 91 lntl T&T 4%scv.. 21 111% 110% 110% lntl Tel&Te) 6s *66. 1 97% 97% 97% Kan City P* Lt 6*. 3 105 105 105 Kan G&E 6s 68. .. 1 106% 106% 106% Kendall 5 %s'4B ww 1 75% 76% 75% Laclede 6% s '63.... 3 103'* 103% 103% Laclede 5%# D ‘6O. 2 103 103 103 Lautaro Nitrate 6s. 16 84% 83% 83% Llgg&Myers 6s *6l. 1 106% 106', 106'* Liggett & Myers 7s 7 122 122 122 ‘ Loew*«. Inc. 6s 7 118 117% 117'% { Loew's 6s w o war. 8 100 99% 99% ! Lorlllard 6s 2 80 89 89 I Laril lard 6% s 4 94% 94% 94% , Lorlllard <P> 75.. . 8 109% 109% 1*9% I I McCrmck ER «»’** 6 10' 102 102 1 i Midvale Steel ta... 1 101% 101% 101% 1 Montana Pwr '48... 11 103 V, 103V* 103% ! Morris&Co lst4%s. 6 83% 83% 83% I Nat Dairy 6% e.... 47 97% 97% 97% 1 N Y Edison 6%5... 7 114% 114% 114% ' NYG&EHP4S.. 1 95 96 95 ! N T Tel 4%a 7 101% 100% 101% N Y Tel 6e*4S 25 111 111 ill North Am Ed 6a... S 102% 102% 102% No Am Ed f%e '62. 7 103% 103% 103% Nor StatealPwr 6a.. 12 104% 104 104% Nor States Pwr 6a. 2 106 106 106 THE EVENING STAR. WASHINGTON. D. C.. MONDAY. JULY 21. 1930. •ales. Hlfh. Low Close. Pacific Gas &El 6s. 3 102% 102', 102% Pae T* T Ist 65... 3 103% 103% 103% Pac T A T 5s *62... 12 105% 105% 105% Pan Amer Pete «a.. 2 104% 104% 104% Path# Exchange 7s 6 65% 64 64 Phlla Co 6a *B7 27 s IOO% 100% 100% PMla A Read Ca*4t. 44 99 98 98 Phillips Pet 6 %s.. 15 95V* 95V* 96v« Por Ric Am Tob 6s. 1 86 86 86 rostai Tel & C 6%s 14 93% 92% 92% Pressed Stl Car 6a. 5 87% 86% 87% Pub Svc G 4%s 87. 1 100% 100% 100% Pub Serv G 4%s ’TO 6 100 100 100 Pure Oil 6%■ '87!.. 3 99% 99% 99% Rem Arma 6s *37... 2 96V* 96 96 Sinclair 011 6s 2 100% 100% 100% Sinclair OU 6%a... 22 103 102% 102% Sinclair OU 7a 1 104 104 104 Sinclair Crv.de 6%a 40 101% lui% loi% Sinclair PL 6s 18 100% 100 100% Sselly Oil 6%5... . 3 95% 95% 95% Solvay Amer 6a ’4Z. 10 98% »7*% 97% South Bell Tel 65.. 3 104% 104% 104% Southwest Bell 6a.. 1 105% 105% 105% Stand Oil. NJ '46... 2 103% 103% 103% Stand OU. N Y.4%s 34 99% 99% 99V* Tenn Cop 6s 8'44.. 2 101% lot 101% Tenn El Pwr 6s '47. 7 107 106% 107 Tex Corp cv 6s 44.. 24 104% 104 104% Transcontl Oil 6%s 68 109% 10j% 109V* United Drug 6s *6*. 3 97% 97% 97% ” S Rub Ist rs 65... 8 82% 81 81 U S Rubber 7 % 5... 1 99% 99% 99% Utah PwrA.Lt 6s. .. 6 101% 101% 101% Utilities Pwr 6%5.. 5 90V* 89V, 90% Vertlentes Sug 75.. 6 40 39 39 Warn Bros P6s *4B. 95 100% 99% 99% Western Eleo 6s. .. 4 103% 103', 103% Westn Union 6s’al. 4 104 103% 104 White Eagle 6%5.. 3 104% 104 104% Wilson &Co lsi 6a. 6 100% 100 100% Win KepeatAr 7%s 2 103 103 103 Youngstn S&T 6a.. 9 103 102% 102% RAILROAD. Atchison adj 4a.... 5 91% 91V* 91% Atchison gen 4s. .. 13 96% 96% 96% A T&SFcv 4%5’48 12 100%130 130 AtJ Coast L Ist 4S. . 1 94% 94% 94% Atl & Dan 2d 4s '4B. 10 52'* 52% 52*, B& O gold 4a 4 95% 95% 95% B&O cv 4%s *3S. .. 32 100% lOO'* 100% 8A04%5'60 132 101% 101% 101% u&orer&a 24 103% 103% 10. W li & U Ist 6s rets... 8 105% 103% 105% B & O ref 6s *95. ... 12 110% 109.!, 110!* B&O SW 6s'6o. ... 2 104% 103% 103% Bang&Aroos 4s *6l. 2 90 89% 90 Boston &M 5s 1956 6 99% 99% 99% Boston Ac Maine oa. 19 100% 100', IOO 1 -, Bklyn Mannat 6s. . . 25 97 96% 9/ Bklyn Un Ist »s'6®. 1 86% k 6% 86% Bklyn Un El 6s *6O. 6 103% 103 103 Buff R & Pitts 4%a. 10 92% 92% 92% Bush Term con 65.. 9 99% 99% 99% Can Nat 4%s '67... 6 97% 97 97% Can Nat 4%s '68... 8 96% 96 96% Can Nat 6s, July'69. 3 103% 103% 103% Can Nat 6s. Oct 6». 10 10.1* 103% 103% Can ,\'or 4%s *45. .. 3 100 99** 100 Can Nor 6Vs s 1 116** 116% 116** Canadian i’ac db 4s. 7 88% 87% 88% Can Pacific ctfs 6a. 4 103% 102% 103% Can Pacific 65'64.. 31 102% 102% 102V* Canada Sou 6s 3 105% 105% 105% Car Clinch & O 65.. 5 101** 101** 101% Cent of Ga 6sC 69.. 10 100% 100% 100% Cent Pac lsl'6s '9O. 10 103% 103% 103% Ches Corp 5s *47.... 54 100% 100% 100% Ches & O gen 4%5.. 4 101 100% 101 Ches &O 4%a '93 A 1 9n% 98% 98% Ches&o4%sß 95 2/ 99 95% 98% CB & Q 4%s '77 B. . h 100 100 100 CB&Q ill 3 %s. ... 5 88% 88% 88% Chi & Elli an 6s 61. 20 70 69 69 Chi Gr West 4s '69. 22 71% 71 7l Chi Mil&StP 4%s K 1 94V* 94% 94% ChtMliStP&P 6s 76. 32 8< 86% 86% CM&StP Pac adj 6s. 6.1 56 58% 55% Chi &NW gen 45... 2 91% 91 91 Chi N W 4%s 2037.. 8 97% 9i% 97% Chi &NW 4%s 2 99% 99% 99% Chi &NW 4% s 'B7. 65 104% 104% 104% Chi & A'* 6%s 2 109 109 109 Chicago Rwys 65... 2 81% 81% 81% Chi R1& Pgn 45.. b 92V* 92% 92% Chi RlAPrf 4*.., 35 98V* 98 98 Chi RI cv 4%s 60.. 11l 100 99% 9J% Chi Rk lsl 4% S A.. 44 i)a% 95% 95% Chicago T H 65.... 3 96% 96% 96% Chi Un Sta 4%5. ... 3 100% 100% 100% Chi Un Station 55.. 1 106% 10oV* 105% Chi Un Sta 6s 44... 3 104% 104 104 C& W Ind con 45.. 9 90% 90 90 C& W Did 6%s '62. 2 105 105 105 CCC&StL 4%s (E). 140 9-% 98% 98% Clev Term 4%s *77. 85 100% 99% 99% Clev Term 6%5.... 27 110 103% 109% Colo & Sou 4%5.... 11 100% 9a% 99% Cuba HR 5s 4 75 74% 7a Cuba RR7 % s 3 86% 86% 86% Cuba Nora %S’42. .. . 10 53 52V* 62% Det& Hud ref 45'43 15 94V. 94 94% Den & Rio Gcn 4a.. 1 94% 94% $4% Den&RGW 65'56... 1 94 94 94 D H G&Wst 6s '78.. 7 92 91% 92 Erls Ist con 4s 2 86% 86% 86% Erie gen 4a 5 81% 81V, 81 % Erie 6s. 1967 13 93% 32% 93% Erie 6s. 1976 41 92% 92% 92% Erie & Jersey 65... 2 112V* 112% 112% Fla East C6s ‘74... 10 46% 46% 46% Gr Trunk st deb Is. 6 105% 106% 105% Grand Trunk 75.... 11 111 110% 110% Grt Nor 4%s lE).. 62 97% 97% 9i% Grt Nor Ist 6s 2 «7% 97V, 97% Gt Northern 6 %s.. 6 110% 110% 110% Great Nor gen 75... 17 111 110% 110% Green B& W deb.. 10 24% 24% 24% Gulf Mo 5s (8).... 20 99% 99V, 99% Hud & Man adj 6a.. 30 80 79% 80 Hud & Man ref 65.. 67 100 99% 99% lUCent 4%s *66.... 3 100% 100% 100** ill Cent Chi 4 %5... 1 98 98 98 111-C-C-StL&NO 6s. 33 105% 100 105% lnt Rapid Trans 6s. 1 62V* 62% 62V* lnt Rap Tr 6a stpd. 1 62 62 62 lnt Rapid Trans 6a. 1 44% 44% 44% lnt &Gt Nor adj 6a. 15 85 85 B.> lowa Central ref 4s 77 77 Kan City Sou 3a... 13 77% 77% 77% Kan City Sou 6s. .. 1 101 101 101 Kan City Term 4a.. 6 92% 92V* 92% Lake Shore 45‘31.. 11 100% 100% 100% Lehi Val con 4a.... 1 90% 90% 90% Lehigh Yal con 4%s 8 100% 100% 100% L& N uni 4s 5 97% 97% 97% M StP&SSM con 4s. 2 89 89 89 MSt P&SSM 6%5.. 2 85V, 8.4% 83% M StP&SSM 6%5. . 18 100% 99% 100% Mo Pacific gen 45.. 6 78% 78V* 78% Mo Pac 6a F *77.... 32 101 100% 100% Mo Pac 5s G *76..., 6 100% 100% 100% Mo Pac 6%a‘49 cv. 6 109 109 10J Nash ChatAStL 4s. 5 92% 92% 92% N O Tex &Mbs B. . 16 94% 94V* 941* Nor OreT&M 5%5.. 2 Ri,' 102 102 N Y Cen gen 3 %a.. 1 81% 81% 81% N Y Cent 4s *96.... 4 92% 92% 92% N Y Cen deb 4s. ... 8 99% 99% 99% N Y C&StL 45.... 3 98V* 98% 98% NYChi&StL 4%s'7S 6 9iV« 97% 97% N Y C & St L 6%»A 6 107% 106% 106% N YNH6H (lit.. 1 85% 85** 85% NY NH&H 4%s *67. 14 94 93V, 94 NYNH&Hcvdbis 18 122% 122 V, 122% N Y NH&H clt 6s. . 1 106 106 106 N Y Ont* W Ist «s 5 52% 62% 52% 1 NY Sus&Wn 6s 37. 2 81% 81% 81% > N Y W& B 4%5. ... 10 88V, 88 88 Norf &Wn con 45.. 1 95% 95% 95% Nor Pacific 3s 2027. 16' 67% 66% 67% 1 Nor Pacific 4s 88 94 93V* 93% Nor Pac 4%s 2027.. 5 98 98 98 Nor Pacific rsf 65.. 10 113% 113% 113% , Penna «%s 1976... 60 96% 96% 96% Penna 4%s *63 22 101 100% 101 Penna gen 6s 2 109 109 109 , Penns 65'64 3 104% 104% 104% , Pere Marq Ist 45’66 10 99 99 99 , Tars M 4%s 1980.. 17 99 98% 99 , Pere Marq Ist 6s. .. 1 104% 104% 104% P CC& StL 6s tA). I 109 109 109 , Port El PL 6s 1 99% 99% 99% Reading gen 4% A» 1 100 100 joo R l Ark* L4%5... 8 99% 99% 99% 1 Rio G West col 45.. 3 86 85% 86 I StL IM&S RAG «S. 30 98% 98% 98% StL&SF PI4SA... 28 90% 90V, 90% , StL&SF 4%576.. 35 93 92', 92% , St LS W con 45'33 A 99% 99*, 99% StL 6 W is *62 s 100', 100', 100% , StP& KCShL4%«. 17 98% 97% 97% , Seaboard AL ref 4s 7 43% 43% 43% 3*abo*rd ALcn <«. 9 50 50 50 , S B All Fla 6s '36 A 3 42 42 42 , Sou Pac ref «a.... 22 94 94 94 Sou Pac 4 Vfcs rets.. 10 97% 97% 97% Bou Pao «%s’6J ww 13 99% 99% 99% ‘ Sou Rwy gen <•.. 4S 90% 90 90% 1 Sou Rwy eon 6a.... 2 111 111 111 ‘ Sou Rwy 6s *66 19 115% 116% 116% ‘ Sou Rwy Mo &O 4s 2 94% 94% 94% > Term Asso SL 45.. 13 90% 90% 90% : Texas & Pse Ist... 1 110% 110*4 110% Third Avs adj 65... 11 26 24 24 * Union Pso Ist 4a.. 11 97% 97 97% * Un Pao Ist rer 45.. 6 92% 92% 92% Union Paces-61... S 90% 90% 90% c EXECUTIVES PROFIT BY BONUS SYSTEM Growth of Firms Results in Huge Rewards for Many Officials. BY JOHN F. SINCLAIR. Special Dispatch to The Star. NEW YORK. July 21.—Eugene Grace’s salary as president of the Bethlehem Steel is $12,000 a year. But his ‘ bonus’’ Is something to dream about, for it adds from $750,000 to $1,500,000 more to his income an nually. Mr. Grace, testifying about this bonus, said: "The factor used to de termine my bonus is 1' 2 per cent.” "One and one-half per cent of what?” he was asked. "I don’t know." answered Mr. Grace. It now develops that certain officers of Bethlehem Steel receive as a bonus 8 per cent of the net profits annually, in addition to salaries. As the com pany earned $49,252,000 in 1929, then $3,960,000 was the bonus “melon" which was shared by these certain officers and heads of departments. Not bad! Schwab's Salary. How many American executives re ceive $1,000,000 a year —as copipensa tion? Not in salary, or bonus, or in special favored stock arrangements, but in a combination of all three. The first thing J. P. Morgan discov ered when he began to reorganize the United States Steel Corporation was that Charles M. Schwab was receiving $1,000,000 a year as salary from Andrew Carnegie. Mr. Morgan summoned Mr. Schwab, handed linn the contract and asked him what could be done about it. "This,” replied Mr. Schwab, tearing it up and throwing it into the waste basket. Yes, Mr. Morgan sent the steel presi dent enough steel bonds to buy up the contract, but for the year before Mr. Schwab tore up the contract he received $1,300,000 from the shrewd Scotchman, Carnegie. Mr. Grace, as president of thp Bethle hem Co., of which Mr. Schwab is the chairman of the board, is known to have received as high as $2,000,000 in one year for his services. Other steel men, such as the late Judge E. H. Gary and James A. Farrell es the United States Steel, are under stood to have received more than sl,- 000.000 several years in succession. But the motor industry has probably pushed more executives into the million aire class than has any other. It was John J. Raskob who in 1928 said: “They say that Carnegie made 30 mil lionaires over a period of years. Well, we made 80 millionaires in four years in General Motors. In 1923 we put into execution modern ideas of the relation ship of capital, labor and management, making management as important as either, and working on the principles that brains should buy capital rather than capital should buy brains. "We induced 80 of our senior and junior executives to go into debt to buy General Motors stock. We got them to pledge themselves to buy $33,000,000 worth. They put up $5,000,000 and borrowed $21,000,000. That stock is worth tqday $250,000,000. All obliga tions have been paid off. and every one of those men, even the juniors, who put In $25,000, are millionaires.” Profits in Stocks. Here is a case where compensation did not come from salary or bonus, but from a joint profit made in the rise of a particular stock. Among the men who shared in these huge General Motors profits and en tered the millionaire class were the Fisher brothers. Fred J.. Charles T., William A. and Lawrence P.; also C. S. Mott, A. P. Sloan and Pierre S. du Pont, .. Walter P. Chrysler was among the first of the millton-dollar-a-year auto mobile executives. John N. Willys, now American Minister to Poland, paid him $750,000 a year salary and later moved the figure up to a cold million. C. W. Nash of the Nash Motor Co., who succeeded W. C. Durant as presi dent of General Motors, has often had an annual income exceeding a million dollars. A. R. Erskine of the Stude baker Corporation is another. The same holds for W. C. Durant, the "Little Na poleon” of the industry. Bankers’ salaries are not so large, but the perquisites help a lot. Charles E. Mitchell, president of the National City Bank, Is understood to have reached the million-a-vear class. The same goes for A. H. Wiggin of the Chase National and Percy Johnson of the Chemical Na tional. both of New York, although the facts in the case of bankers are hard to get. (Copyriaht. IMO. by North American News paper Alliance.) CIGARETTE SALES GAIN IS LAID TO ADVERTISING By the Associated Presa. NEW YORK, July 21—Commenting on the increase of more than 900,000,000 in total cigarette production during June, the American Tobacco Co. attributes the gain in cigarette sales during the first, half of the year, a tim» when sales of other products were mostly declining . in part to "tne aggressive advertising campaigns of cigarette manufacturers, who have shown their faith in newspaper adver tising by increased appropriations.” It adds that this has been at a time when many other manufacturers are reducing their advertising Investments. WASHINGTON COMPANY BUYS RICHMOND PLAAIT Special Dispatch to The Star. RICHMOND, Va.. July 21—Southern Wholesalers, Inc., of Washington, D. C., has purchased the Winchester, Va., busi ness of the Benjamin T. Crump Co., which is closing its local branch. The purchaser states that 1 a larger and more varied stock will enable it to render a better and more profitable service to dealers in the future. It, wtll specialize in replacement parts and also garage equipment and the Atwater Kent radio. The Crump stock is being moved to the company's place of business. Appalachian Gas Corporation. NEW YORK, July 21 (A*). —Appalach- ian Gas Corporation now owns more than 95 per cent of the outstanding common stock and has contracted for purchase of a majority of the preferred stock of West Virginia Gas Corporation. This is the fifth major acquisition of Appalachian Gas within three months, the others being acquisition of control of Texas Gas Utilities Co„ Southwestern Natural Gas Co. and of substantial stock interests in Memphis Natural Gas Co. and Allegheny Gas Corporation. Crude Petroleum Prices. NEW YORK. July 21 (/P>.—’The aver age price of crude petroleum in 10 pro- j ducing fields was unchanged last week from the previous week at $1,497 a bar rel. The average price for the corre sponding period last" year was $1,727 a barrel. Oil. Taint and Drug Reporter says. Gasoline at refineries was lower last week at 7.09 cents a gallon at four principal refineries, compared with 7.18 cents a gallon the previous week. Sales. Hiah Low Close. Vtrrlnia Ry Ist ts. 2 106 105 V 106 Va Ry * Pwt te... 1 101*4 101* 1011* Wabash 4tta'7B... 10 93 93 93 Wabash 6s *7s 8. .. 1100 s. lOOS, 100 S Wsbasb SVisTS... 3 104 lt>4 104 Western Md 4e. ... 23 84'i 84>« 84*4 West Md 6At5 '77... 4 99N. 99'. 99', Wast Pacific Sa 6 98* 98',!. 98* 1 Wheel &LE cn 4a,. 10 MV 88V 88V I NEW YORK STOCK EXCHANGE I Received by Private Wire Direct to The Star Office. (Continued From Page 13). , - Frex.lOtt) - Stork and Sale*— Trer. 1 Hiirh. Low. Dividend Bate. Add 00. Hirh. Low. Clove. Clove. 2% 1 PlercsOU 11% 1% 1% 1% ! 7% 2% Pierce Petroleum.... 8 s'* 5% • 5% SV, j 37% 27 Pillsbury Flour t2>.. 4 -33 32% 32% 34 50% 39% Pirelli. Italy (si.l4). 5 41% 41% 41% 41% 1 103 93% Pitts Steel pf (7) 30a 96% 96% 96% 95 34% 20% Poor *Co (B> (2). . . 2 23% 23 23 23%' 30% 25 PR Am Tob A (3%). 1 27% 27% 27% 27 [ 27% 9 P Rican Am To (B). 3 11% 11% 11% 11%' 54 35% Prairie Oil & Gas(2) 5 38% 38 38 38% i 60 44% Prairie Pips L (t 6).. 15 49 48% 48% 49 16** 6', Pressed Steel Car... 3 TV* 7% 7%. 7% ; 78% 52% Troctor & Gamb( 2.40 15 73 71% 72 73% i 11% 6% Prod & Refiners 17% 75- 7% 8 123% 81% Pub Serv.N J(3 40). 84 97 94 91 97% 98% 91% Pub Serv NJ pf (5). 1 94% 94% 9t% 95 89% 62 Pullman Corp (4)... 13 68% 66% 66% 68 27% 19% Pure 011 (1% ) 12 22% 22 22 22% 114V* 110% Pure Oil pf (8) 10s 112% 112', 112% 112% i 88% 52 Purity Bakeries (4). 8 63 62 62 63 69% 32% RadloCorp 1273 42% 40% 40% 42’, 57 53 Radio pf A (3%).... 2 56 56 56 55% 50 19 Radlo-Kelth-Orph A 482 33% 31% 31%. 34 58% 28 Raybestos Man 2.60. 4 32% 32 32 * 33% , 64% 34% Real Silk (5) 21 41 40% 40% 41' 5% 2 Reis (Robt) * C 0... 12% 2% 2% 2’. 46% 23 Rem Rand * 1.60).... 52 29 27% 27% 19 14% 8% Reo Motor Car (Sop) 3 9% 9% 9% 9% 9% 6 Reo Motor ctfs (80c) 19% 9% 9% 9% 79% 37% Republic Steel (4) . SO 47 45 45', 48 1 95V* 86»* Republic Steel pf 1 6) 1 87% 87% 87', 87% j 30 19 Revere Copper & Br. 2 19% 19% 19'-* 19V.: 34% 23 Reynolds Metis 3 40. 8 25’. 25 25 25% 80 70 Reynolds Tob A (3). 560 s 70 s * 70% 70% 71 58*i 45*4 Reynolds Tob B (3). 26 50% 50 50% 50% 28% 14 s * Richfield OU (2).... 20 17% 17% 17' . 18 25*4 16% RloGrandeOll (2).. 6 17V, 17 17 17% 48% 27% Rossla !nstir(2 20>. 15 30 29% 29% 32 64', 59% Royal Dutch' 3.2165) 9 54 53% 53% 51% 122% 70% Safeway «e6)....... 5 77% 76V, 76", 77 57% 33V* St Joseph Lead (t 3). 4 39 % 39 39 29' 101 92 St L-San Fran pf <6) 3 95V, 95% 95% 95% 76% ,52% St L Southwestern. . 2 67 66 66% 69%; 31% 16 Savage Arms (2),... 1 18% 18% lg% 20 j 13% 4% Srhults Retail Strs.. 17 77 6% } 75 35 Schulte Retail pf'S). 10a 53 53 53 50 12% 6 Seaboard Air Line 16% 6% 6% 6% I 100% 59% Sears Roebuck(72V4) 35 68 65 65 68% j 23 7 Second Natl Inv 3 10 10 10 ]<)% 13% 6% Servel. Inc 21 8% 7% 7% 8 52 31% Hhttttnck ( FG) (tl % ) 17 38’, 36% 36% 38’. 25% 18 Shell Union (140). . 19 19% 18% 18% 19V 100% 95 Shell Un Oil of (5%) 1 98 98 98 99 36 8% Shuber! Theatres. .. 12 17 I(>% 10** 17% 94% 21 Simmons Co 108 27'% 25 25 27% 37 18 Simms Petrm (1.60). 2 22% 22% 22% 23 32 20 Sinclair Con Oil (2).. 180 25 21 21 24% 42 28*4 Skelly 011 (2) 4 30% 30% 30% 31'- 99** 89% Skelly Oil nf (6) 2 91% 91 91 88 ’ 82 41', Sloss-Sheffield pf (7) 60s 52 51 52 52 72 52% Southern Cal F.d (2). 8 59 57% 57% 591% 127 108 Southern Pacific (6). 8 118% 118% 118% 118% 136*4 89% Southern Rwy (8. 11 99% 97 97 99% 36% 15 Snider Tacking pf. .. I 22 22 22 23 45 33 Spalding (A G) (2).. 3 38% 38% 38% 28 3744 19% Spang-Chalfant 5 33% 33% 33% 33% 30% 13% Sparks WithngtnO). 19 23% 21% 21% 23% 36% 14% Spicer Mfg 5 19 17% 17'- 19% 29'/4 17 Stand Brands (1 V 4). 74 21 20% 20 s ; 21% 129V* 8414 Stand G& E (3V4 ). .. 26 91%. 90% 90% 95 67 61% Stand G & Ens (4) .. 2 63% 63% 63% 63% 106% 96V, Stand Gas& El pf(6). 1 99% 99% 99% 99% 15% 5 Stand In vest Corp. .. * 17 7 * 77 75 55% Stand Oof Cal (2%). 41 62% 61% 61% 63 49 29 Stand Oil of Kan (2) 1 34 331, 33% 35% 84% 58 Stand Oil of N J(t2). 538 73% 71 71 73% 40% 30 Stand Oil NY <1 60). 65 33% 32 32 33% 20% 9% Sterling Sec (A).... 19 12 11% 11% 11% 47 19% Stewart-Warner (1). 10 25 23% 23% 25 113% 70V, Stone & Webster (4) 32 83 80% 80% 83'4 47V* 25V4 Studebaker Corp (4) 56 32% 30% 20% 33% 125 116 Studebaker Co pf (7) 200s 120% 120 120 120% 144 44 Submarine Boat 4 % % % % 70 50 Sun Oil (71) 3 57% 57% 57% 59% 105% 102% Sun Oil pf (6) 50s 104% 104 KM 104% j 43% 38 Superheat er (t 3 %). . 1 40% 40% 40% 41% 1 9% 5 Superior Oil 14 s', 5 5 5% j 7 2** Symington 13% 3% 344 31, I 1744 7Vi Symington (A) 3 10% 10% 10% 10% 26V* 1544 Telautog’h C (t 1.35). 3 18', 18 18 18 s .: 17 10% Tenn Cop &Ch (1).. 5 11% 11% 11% 11% 60% 50% Texas Corp (3) 27 53% 52V, 52% 53% 67% 48% Tex Gulf Sulphur! 4) 37 574, 56% 56% 56% 14% BV* Texas PC* Oil I 9V* 9% 9% 10% 32% 13% Texas Pac Land Tr.. 223 23% 20% 20% 23% 36% 17 s , Thatcher Mfg (1 60). 1 20% 20% 20% 20% 26% 11 TUermoidCo 8 12% 11% 12 V* 12 464* 25 Third Nat Inv (2)... 2 31% 31% 31% 31 47% 36 Thompson (J R) (3). 1 36 36 36 37% I SMALLER SILVER COINS URGED | AS AID TO METAL INDUSTRY; • By the Associated Press, A congressional effort will be made to reduce the size of our dollar and half-dollar silver coins, to popularize their use and thus Increase demand for the metal. Spurred by the present despondency of the industry, certain Senators, with large silver constituencies, let it be known today that such action is plan ned. While the idea is only in its formative stage, present suggestions call for a new dollar but slightly larger than the present half, with the new half dol lar between the size of the present quar ter and the new dollar. The present quarter would remain the same under the plan. There is need for such a revision, these Senators say, and declare the present models are antiquated and cum bersome. They see in the contemplated rhanges increased demand for the niPtal which would more than offset the les sened amount in the maior coins. Furthermore, they aver, such a policy would be directly in line with the ad ministration's policy of economy, as maintenance of the present paper dol lar has been estimated at approximately 2 per cent a year, which totals an enormous amount annually. In this DOUG AND MARY DENY THEY PLAN DIVORCE Indignant Over Rumor Circulated at Hollywood That They Will Seek Separation. Special Dispatch to The Stay. HOLLYWOOD, Calil.. July 21 <N.A N.A.). —From their Santa Monica Beach house, which they arc occupying during the heat wave that recently struck Southern California. Douglas Fairbanks and Mary Pickford indignantly deny and emphatically assert that they have no intention of seeking the divorce re cent reports credit them with. Rumor persistently reiterates the story that Mary and Doug have come to the part ing of their ways. The picture which Mary Pickford be gan during Douglas Fairbanks’ absence in England watching the golf tourna ments and later dropped, is given as a sure sign of domestic disagreement, but both the king and queen of cinemaland deny that any titled woman has come between them in the slightest degree. More, Mary Pickford asserts, she will resume the making of her picture as soon as script, director and circum- i stances permit. That there has been serious difficulty between the two lias been rumored time and again during the last six months Their Invariable rule of appearing to gether at all public functions has been broken on oreasions. But when Mary Pickford returned from her recent jaunt to New York, Douglas Fairbanks was at the depot to meet her and at the present time they both occupy the same resi dence. One must take the king and queen i of the movies at their word and their word is that they have no intention of i getting the divorce which rumor credits them with seeking. GRAF CELEBRATES Zeppelin Visits Rhineland as Part of Hindenburg Program. FRIEDRICHSHAFEN. Germany. July 21 (£*>.—The Graf Zeppelin returned to her home port last night after a flight over the liberated Rhineland In connec tion with the celebrations attending President von Hindenburgs visit. She made a brief stop at Neustadt. being the first German airship to land in the Palatinate the wax. . <-Prev.lS3ft Stock and Sole*— free. Ilirh Low. Dividend Rate Add Ml. Hich Low. Clone. Clone. 1 39% 20 Thompson Prod<2 40 2 24'* 24 24 25% 18% 9 Thompson Starrott.. 4 104* 10% 10% 10% 49% 40 Thomp-Star pf (3%) 1 42% 42% 42% 41V 17% 10% Tld* Water Aa (SOe). 14 14% 14 14 14% i 21% 12% Timken Dot Ax(80c) 2 14% 14% 14% 14% 89% 55% Timken Roller (3)... 9 65% 62% 6,’% 65 6% 2% Tobacco Product*. .. 6 4% 4% 4% 4% 24 16% Transcontl Oil 130 c) 53 18% 18% 18% 18% 20% 9% TH-Contl Corn 25 13% 13 13% 13% 41% 30% Trlco Prod (2%). ... 2 31 30% 30% 31% i 22 13* Truax Trasr <1 60).. l 13 13 13 13% j 31% 10 Twin City Rap T( 14) 1 12 12 12 10 138 83 Und-Ell-Flscner 151. 6 96% 95 95 99 | 106% 60% Union Carbide 12.60) 51 74 71% 71% 74 50 37 Union Oil of Cal 122) 5 41% 41 41 42 242% 200 Union Pacific (10)... 2 219 218% 218% 221% 86%. 82% Union Paciflo pf 44). 2 85% 85% 85% 85% 99 43% Utd Aircraft 376 58% 55% 55% 58% 58% 36 Utd Biscuit 41 60)... 2 50 50 50 50 84 40% Utd Carbon (2) 52 53 49% 50 50 8% 6% Utd Cisrar Stor*«. ... 6 6% 6% 6*. 6% 52 28% United Corp (50c). .. 464 34% 32% 32% 34% 53% 46% United Corn pf (3).. ]0 49% 49% 49% 49% '9% 7 Utd Electric C0a1.... 2 8% 8 k 8% 105 83 Utd Fruit 44) I 92 92 92 92% 49% 31% Utd Gas * lmp(l.2o> 109 37% 35% 35% 37% 14% 4% Utd Stores (A) . 8 12% 12% 12% 13 50% 15% Utd Stores pf H 50 49% 49% 50** 4% 2 U S Express 1 2 2 2 2 32% 16 US * For Secur 15 19 18% 18% 19% 101 85% IJ S * For See pf(6). 2 90% 90% 90% 90’.. 30% 17% V S Hoffman 42).... 1 18 18 18 18* ; 139% 62 U S Alcohol 4tT >.... IS 81 79*; m 91 38% 18% U S Pipe * K 42). .. . 74 34% 33’ . 33% 34%* 21 15% U S Pipe * F Ist 1.20. 2 19% 19% 19% 18% 75% 48% IJ S Realty 45) 11 52 51% 51% 551.* 35 20 U S Rubber 46 24% 22% 23% 24% 36V* 17% U 8 Smltg * Ref (1) 1 19% 19% 19% 'll 198% 151% US Steel 47) 385 166’,. 162% 162% 166% 146 141 U S Steel pf (7) 2 145% 145% 145% 145% 68 59% US Tobacco 44) 2 61% 61% 6|% 601 4 39 25 Unlv l.eaf Tob «3).. 2 25 24% 25 25 9 34« Unlv Pipe * Rad.... 2 4% 4% 4% *"5 45% 30 Util Pwr*Lt A 4*2). 25 34% 33% 33% 34% 7% 2% Vadasco Sales Corp. 2 3 3 3 3 143% 49% Vanadium Stl 4t4).. 1397 100% 93% 93% 98% 8% 4 Va-CarChem 5 5 414 34% 22 Va-CaroChem cf 2 22% 22% 22% 22 : 105% 100 Va El & Pwr pf 46).. 70s 102 101% ]O2 10T 156 60 Vulcan Det 44) 460 s 83 78% 78% 84 67% SO Wabash 17 37% 36 36 371. I 31% 24% Waldorf Svatm4l Vi) 3 26% 25% 25% 26% 42% 21% Walworth Co 12).... 4 25% 24 24 ".51, 54 21% Ward Baking (A)... 60-' 26 26 26 26 ' 15% 4% Ward Halting 4B). .. 9 8% 8 84, *Vh, 80% 38% Warner Bros Pic 44). 385 45 42% 42% 45 70% 36% War Bros Ppf 42.20) 2 48% 48% 48% 48% 27 12% Warner-Qulnlan 41). IS 14 j. 3% 13% 11 63% 40% Warren Bros 43) 12 48% 47V* 47% 49% 50 50 W’ren Bros cv pf 43) 170a 51% 50 50 50 43% 23% Warren Fdy & P 42). 7 33% 31% 33 33% 29% 22% VVess oil & Snow 42). 1 24% 24% 24% 24% 69% 50% Wess O&Sn pf (4).. 1 56 56 56 56 101% 97% West Penn El pf 46). 20a 100% 100% 100% 101% 110 104% West Penn Pw pf(6). 10s 108% 108% 108% 108% 24% 11% Western Dairy IB).. 7 >3% 12% 12% 13% 36 18% Western Md 3 25% 23% 23% 26Vi 53% 38% Western Pacific pf.. 11 42% 42% 42% 43% 219% 150% Western Union tg).. 3 170% 168V* 168' . 169”, 52 36% Wearing!).** s Bi 2). 1 39% 39% 39% 3914 201%. 124% Westlnghse E&M 451 246 145 1,39 139%. 145% 48% 29% Weston El Instr < 1». 1 36 36 36 38% 21 7 Wextark Radio Strs. 15 13% 12% 12% 13% 13% 5 White Sewins Mach. 3 6% 6 6% 6% 21 11% Wilcox Ol 1 & Gas.... 1 16% 16% 16%. 16% 11 5% Wtliys-Overland... . 4 6% 6% 6% 6% 7% 3% Wilson &Co 23 3% 3% 3% 3%, 54% 42 Wilson &Co pf 3 48 48 48 * 44 72% 61% Woolworth <2 40)... 13 58% 56% 56% 58 169 67V 4 Worth Pump 81 138% 131 131 137 79% 67% VVrlgley t Wm) 44).. 72 79% 77% 78 77',« 77 41V. Yale&Towne M fg(4) 7 42% 41% 41% 43 32% 12% Yellow Truck 128 27% 26% 26% 27% 105 72 Yellow Truck pf. .. . 100 s9O 90 90 * 90 150% 108 Young Sheet * T 15) 1 115% 115% 115% 115 16% 0% Zenith Radio 11 9% 9% 9% 9^, RIGHTS EXPIRE 22% 16 Am Tel* Tel Aug I 276 18% 18% 18% 18% 22% 17% Cites & Ohio.. July 23 88 22% 20% 20% 22V* Sales of Stocks on New York Exchange 10:30 A.M 235.200 12:00 Noon 791 000 1:30 PM.. 1.061,900 2:10 P.M y. ..1.247 000 Dividend rates as given in the above table are the annußl rash payments based on the latest quarterly or half vearlv declarations * Unit of. trading less than 100 shares tPaVtly “xtra tPIuV 4% in stock SPavable in scrip VPlus 9ti in stock a Paid last year n«» regular rate b Payable in stock d Pavable wheu earned e Pav. 'o cash or stock f Plus 10% in stock g Plus 6% in suck I h Plus 2% 0 m stock J Piu* 8% In stock, k Plus 3% In stock o Plus I connection, it was pointed out, the j ! abrasion lass on a silver coin is prac- I | tieally negligible. j A large number of mining authorities j will appear before a congressional com ! mittee here on December 9, and efforts ! are being made to have the Department I of Commerce call a national conference I of silver authorities and economists for i that time. Indication has been given | by Secretary Lamont that this will be ! done. This conference was sug- I gested by Senator Oddie after success ful efforts to have additional appropri ations included in the department's budget for the conduct of silver re search. Senator Oddie has also asked per mission to bring before this conference his recent resolution providing for a revision to date and a republication of the currency and financial research work of the Senate Commission of Gold and Silver Inquiry and the extension of that research into countries of Latin i America and the Orient. Shortly after these publications a number of coun- i tries provided for the minting of new silver coinages, and it is held probable i by the Senator that a similar activity ! would result from the research work | provided for under this resolution, I thereby increasing the monetary de mauds' for silver. Markets at a Glance NEW YORK. July 21 (/Pi.—Stocks ; heavy; loaders off 2 to 5 points. Bonds ; irregular: rails steady. Ore heavy: ac tive shares break 1 to 4 points. Foreign exchanges firm; sterling advances. Cot ton lower; weak cables and favorable crop advices. Sugar easy; lower spot market. Coffee higher; Brazilian sup- ! port. m>ijutr wheat easy; | large visible supply fflrrer—°. Corn i , weak; good rains lowa. Cattle weak to 1 lower. Hogs lower. NICARAGUA TROOPS j WHIP REBEL FORCES Constabulary Trained by U. S. Ma rines Defeat Sandino’s Men in Eleven Engagements. Specinl Dispatch to The Star. PANAMA City, July 21.—The Nica- : raguan Constabulary, trained by United 1 States Marines, has decisively defeated : Sandino’s men in 11 engagements with-• in the past few months, Admiral Ed ward Hale Campbell, commanding the Special Service Squadron, declared here shortly before sailing for Managua, Nicaragua, with Capt,. Alfred W. John son. U. S. N., appointed bv President Hoover to supervise the Nicaraguan elections next November. “They have proved themselves every inch the soldiers the Marines tried to j make them.” the admiral added. The squadron headed by Admiral ! Campbell consists of the cruisers! Rochester, Denver.and Asheville. Hcad ■ quarters are in Panama, but routine j' inspection trips along both coasts are ! 1 | made regularly and the roving fleet i always is ready to steam for some port u1 trouble at a moment's notice. MONEY MARKET. NEW YORK, July 21 (JP).—' There were no developments today to Influ ence any change in the cost of money, and both the call and time money rates 1 held steady. Call Money held at 2 per ' cent, all day, with some available outside j at 1 li per cent. Considerable activity in commercial 1 paper outside New York was reported, with prime names quoted at 3 to 3’* per cent. Bankers' acceptances were I quiet and rates unchanged, i Washington Produce Butter—One-pound prints, 37 1 -.838 1 i; tub, 36a37. ERgs—Hennery, 25; current receipts, 20. Poultry, alive—Spring broilers, large, 33a35; medium, 28a30; small, 26a27: Leghorns, large, 23a24; small, 20822; hens, large, 24; small, 21a22; roosters, 15a 16. Dressed, shipped in, iced— Spring broilers, large, 32a33; medium and small. 26a27; fowls, large, 25a26; small, 15a17; roosters, 16a17; Leghorn fowls, 15a 16. v Jobbers' prices, home-dressed—Spring broilers, large, 39a40; medium. 37a38; ; small, 35; Leghorns, large, 29a30; small, 25a26; fowls, large, 27a28; small. 25a 26; Leghorn fowls, 19a20; roosters, 15a16. Meats, fresh killed—Beef, 18a21; veal ! 15al8; lambs, 25; pork loin, 25a28: Iresh hams, 25: fresh shoulders, 18a20; smoked hams, 27; smoked shoulders 20; bacon, 27; lard, in packages, 13; in bulk, 12. Live stock—Calves, 11; lambs. 9. Fruits—Watermelons. 30a65; canta loupes, Ridgeway, N. C„ 1.50a2.00; Hampton. Va., 2.50: honeydews, 2.50a 3.00. honeyballs, ponys. 2.50: stand- I ards, 3.50: jumbos, 4.50; apples, 50a 1.25: peaches, 2.50a3.50; gripes, 3.00 6.00a8.00; lemons, 5.00a6.00; huckleber ries 5.00a7.00; pineapples. 5.00; plums, 1 California, 2.75a3.00; currants, 7.00. Vegetables—Potatoes. 3.50; sweet po- ! tatoes, 12.50a13.50; cabbage, 1.00; kale j 65a75: spinach, 75a1,00; string beans, 1.50a2.00; peas, Washington State. 50- pound crates. 5.00: carrots, per 100 bunches, 2.50a3.00; beets, per 100 bunches, 2.50a3.00; squash, 75a 1.00" j corn. 5-dozen sacks, 1.25a2.00; Swiss chard, per bushel, 75a 1.00; tomatoes 2- peck baskets, 75a 1.00; eggplant, 1.75a 2.50; peppers, 2.00a2.50. PLAN TO RESTORE HOME ' OF BENEDICTINE MONKS By Radio to'The Star and New York Heraid- Tribiine. Cop.vriaht. 19.10. PARIS, July 21. —Work Is to be com i menced in November on the task of re j storing Mont St. Michel, once the island citadel of the Benedictine monks, to its former insular state, according to a recent announcement by Amis du Mount St. Michel. The rock at the . mouth of the Couesnon on which the magnificent fortress-abbey was built is now surrounded by ever-increasing I stretches of sand as a result of the dike connecting with the mainland, built in 1875, which diverted the tidal currents, detracting from the beauty of the place! It is planned to lower the dike to sand level for a distance of 500 meters from the base of the fortifications ! which will permit the tide to flow! around at high level and carry awav the sand deposits. A swing bridge will be used for communication with the mount. The project has been approved by the ministry of public works, and Parliament will be requested to vote an appropriation in the next session. Standing in the bay of the same ! name, the abbey, formerly an imprpg- 1 nable fortress, was the scene of the 1 institution by Louis XI, in 1469. of the! order of the Knights of St. Michel, j Thousands o 1 pilgrims, led by the Bish ops of Normandy, will visit the place on ; St. Michels day, September 29, when the Amts du Mont St. Michel will dis tribute medals of those who have dis- i tinguished themselves defending the historic artistic treasures of the mount U. S. TREASURY BALANCE. By the Associated Press. The United States Treasury balance, announced today as of close of business July 18, was $210,849,239.72. Customs ] receipts for the month to date were; $14,582,410 90. Total ordinary expend!- I tures, $9,050,825.34. * The French government, by decree I has eliminated foreign development of Us eiv.it airways. FINANCIAL. 'TRADE COMMISSION PROBES NEAR END Public Utilities Hearings Arc Suspended Until Early in Fall. By the Associated Pres*. Practically all inquiries now being carried on by the Federal Trade Com mission are well on toward completion. No further hearings will be held on public utilities until early in the Fall. In The meantime the commission's agents will continue work on several of the larger operating and holding com panies. There is available to the putf iic the printed record. In 18 volumes, rs j the hearings previously held regarding the oublicity phases of the inquiry. The printed record of the more recent hear ings of the financial features of the in quiry is not yet available to the public. Material obtained by agents of the commission at work on the price and margin study of chain stores In Des Moines is rapidly begin worked Into . shape by the office force. The study of tne co-operative or voluntary chains progressed favorably as did the studv of the organization and management of chains. During June the final follow up letter to chain store operators who had failed to respond to the eommis sion’s previous schedule was sent out. I Replies are being received in large numbers. The draft of the report on blue sky securities, authorised by the commis sion, has been submitted for considera tion. It presents a study of the frau dulent sales of worthless securities. * CHICAGO BUSINESS INCREASE IS SEEN . | . . Leaders in Finance Arc Predicting , General Improvement in 1 September. , Special Dispatch to The Star. ' CHICAGO, July 21.—Business leaders , arp predicting improvement in all lines , after the middle of September or the first part of October. There are a few' who have expressed themselves ■ publicly, asserting that the turn for the • better has already come, and that gains are to be gradual. The steel industry Is considered the leader, and mills in Chicago district are. operating at 60 to 65 per cent of ca r pacity, against around 38 to 45 per cent during the Fourth of July week. One steel specialist says a feature is the limited backlogs as a result of the ■ placement of smaller tonnage of late. An improvement in structural steel buying, with several fair-sized orders, * and a $12,000,000 pipe line to carry gas from Barnesdale. Okla.. to Chi , cage and the East were the main fea tures of last week. Production of pig iron has been curtailed by the closing ■ of one furnace at South Chicago and r there are now 18 out of the 36 furnaces in the district in blast. Unemployment conditions have changed little. Where married men with families are out of work instances are reported of their wives taking work of any kind that is to be had. Baltimore Markets j Special Dispatch to The Star, j BALTIMORE Md.. July 21 .—Potatoes, j new. bushel, 90al.l0: barrel. 1.50a3P0; sweet potatoes, bushel, 2.50a3.00; beens, | hamper, 50a 1.00; beets. l.00a2.00; cab bage. hamper; 60a75; carrots, 100 pounds, 34)0a4.00; celery, crate, 2.50a : 3.25; corn, dozen. 8a25; cucumbers, hamper, 35a 1.00; lima beans, bushel, 2.00a3.00: eggplants, hamper, 1.25a 1.50; lettuce, crate, 25a75; onions, bushel, 65a25: peppers, hamper, 75a90; peas, bushel, 50a2.50; spinach, bushel. I.ooa I. squash, hamper, 25a35; tomatoes, 1 hamper, 75a 1.25; apples, bushel, 25a j 1.50; blackberries, quart. 12al8: canta loupes. crate. 75a3.25; peaches, bushel. 2.soa4.oo;watermelons. 100, 15.00a40.00. Dairy Market. j Poultry alive Chickens, Springs. pound. 25a34; Leghorns, old. 17a24: old | roosters, 15a 16; old hens, 22a27; Leg horns, 15a20; ducks, 18a23; pigeons, pair, 15a25. Eggs—Receipts, 1,457 cases; nearby firsts, 21; Southern firsts. 20. Butter —Good to fancy creamery, pound, 32a35; ladles, 24a25; rolls, 24a 25; process, 28a29; store packed, 18. Hay and Grain. Wheat—No. 2 red Winter, export, j 92; No. 2 Winter, garlicky, spot, 88' 4; July. 88' August delivery, 88. Corn—No. 2 domestic, yellow, new, 94a95: cob corn. 4.25a4.50. Rve —Nearbv. 60a72. Oats—White, No. 2, 46a47; No. 3. 45 a46. Hay Receipts, 14 tons. No change in I market; continues quiet. Live Stock Market. Cattle—Receipts. 500 head; fair sup ply, market extremely dull and slow. I Steers, good to choice, 8.00 to 8.50; medium to good. 7.25 to 7.75; fair to medium. 6.50 to 7.00; plain to fair, 5.75 to 6.25; common to plain. 5.00 to 5.50. Bulls —Good to choice, 6.25 to 6.50; medium to good. 600 to 6.25: fair to medium, 5.75 to 6.00; plain to fair, 5.25 to 5.50; common to plain. 4.50 to 5.00. Cows—Good to plain, 5.75 to 6.00; mediutp to good. 5.00 to 5.50; fair to i medium. 4 00 to 4.50; plain to fair, 3.25 ! to 3.75; common to plain, 2.50 to 3.00. j Heifers—Good to choice. 7.50 to 8.00; medium to good. 6.50 to 7.00; fair to medium. 6.00 to 6.50; plain to fair. 5.50 ! to 6.00; common to plain, 5.00 to 5.50. j Fresh cows and Springs, 40.00 to 80.00. j Sheep and lambs—Receipts, 400 head; I good supply, market steady. Sheep, i 1 00 to 3.50: lambs. 5.50 to 10.25. ! Hogs—Receipts. 2.600 head; light I supply, market higher. Lights. 10.45 to 10.70; heavies, 9.75 to 10.25; medium, 10.50 to 10.75; roughs, 7.00 to 8.75; light pigs, 9.50 to 10.25; pigs. 10.00 to 10.50 Calves—Receipts, 1,500 head: good supply, market steady. Calves, 5.00 to 11. | _/ POTATO MARKET. CHICAGO. July 21 </r> (United States Department of Agriculture'.—Potatoes— Receipts, 160 cars; on traeju 298; total United States shipments Saturday, 597: Sunday. 12: weak, trading slow: Kansas and Missouri sacked Irish cobblers 1.50a1.60: few fancy shade higher: ordinary to poor, 1.25 up, Minnesota sacked Early Ohios. 1.75: Virginia bar | reled Irish cobblers, 3.00a3.35. ' * FOREIGN EXCHANGES. (Quotations furnished by W B. Hibbs & Co • Nominal gold Selling checks value ior par). today London, pound. S 4 B«bs $4.80,*. Paris, franc 3 91%c 3 93,*«c Brussels, Oelga 13 91c 13 98c i Berlin, mark 33 82c 23.88 c Rome, lira S.2«e S 2311 c Zurich, franc.. 19 ,V. 19 44c Mh»ns. drachma.... 13c. Madrid, peseta 19 3> Vienna, schilling.... 14<17c Budapest, pengo . 17 %9c Prague, crown -nom 1 2 984 c 2 9<sUc Warsaw, zloty ..1122c Copenhagen, crown . 20.8 c 20:80c Oslo, crown 20 8c 20.79%c Stockholm, cromm 26 8c 20 89'ic TREASURY CERTIFICATES. (Reported by JAW Seligman Si Co. I. Rate—Maturity Bid Offer 3%s Sept. !5, 1930 100 5-32 100 7-32 3%s Dec. 15 1930 100 15-32 100 17-32 2!?* •, 1 l lne ,'?• 100 IS - J 2 100 17-52 3'as Mar. 15. 1932 100 25-32 100 28-32 i * «JPt. ». 100 24-32 100 27-32 3%s Dec. 15. 1233 100 34-33 100 27-M