Evening star. [volume], September 08, 1930, Page A-14, Image 14

About Evening star. [volume] (Washington, D.C.) 1854-1972

Image provided by: Library of Congress, Washington, DC

                
A-14
LAST-QUARTER GAIN
IN BUSINESS SEEN
Wrigley Expects Pick-up in
Ail Lines During Re
mainder of Year.
BY JOHN F. SINCLAIR.
Special Dispatch to The Star.
NEW YORK. September B.—William;
Wrigley, Jr.. Chicago business man and
sportsman, believes that the last quar
ter of 1930 will be better in his busi
ness than that of 1929.
The Chicagoan sees nothing basically
wrong with business itself. He thinks
It is sound at the core and that as soon
as the bad effects of a prosperity spree
have spent their force conditions will
move forward again, as they always
have in the past.
“My idea is that business was on a
•prosperity drunk’ for several years.
Many manufacturers increased their
output and expected that they could j
keep on doing this as long as they were
In business. The supply was constantly
exceeding the demand —some stocks
were selling at 30 times their earnings
or more. When thus condition prevails
•the morning after the night before’ is
sure to put in an appearance.
Sees Production Gain. -»
"Business was riding for a fall and
the fall was postponed very much
longer than most people thought it
would be. I think that when the sur
' plus merchandise has been gradually
absorbed it will be necessary for fac
tories that have been closed for three
or four days a week to start up very
nearly full time this Fall, because there
will be a demand for their product.”
Mr. Wrigley believes a tremendous
wave of economy and a fear that the
present low prices of commodities now
prevailing will still go lower is really
what is holding business back from a
new advance.
“My personal view of the general
business situation is that it will be
healthier than it has been for several
years. There is plenty of cheap money,
wages have not been reduced and, now
that the surplus stock manufactured
during the hurry-up night-and-day pe
riod is about exhausted, we should no
tice a very considerable improvement in
the general business situation.”
Mass Buying.
Mass production demands mass buy
ing. says John P. Frey, American Fed
eration of Labor official, in the mag
azine of Wall street, because he is con
vinced that the high rate of production
and the high mechanized industry to
which American business is committed
cannot be sustained except at the pres
ent wage level.
“If coolie labor, with its low wage
and debased standard of living, was to
replace the mass of wage earners in the
United States, most of our basic indus
tries would close their doors," said Mr.
Frey.
It is the home market in the United
States upon which business prosperity
depends, because the wage-earning pro
ducer is the largest consuming pur
chaser.
Undoubtedly, Mr. Frey agrees with
Henrv Ford’s statement that “there is
not a factory in America that was
built for shutting down.”
Mr. Frey gives a particularly apt ex
ample to illustrate his point. He says
that the United States at present is in
the position of the patient having dif
ficulty in breathing. Does the doctor
reduce the volume of oxygen? Instead,
the clothing is loosened, the windows
are opened, and perhaps oxygen is arti
ficially administered. Unless the circu
lation of oxygenized blood is maintained
the patient will collapse.
“So it is with wages and prosperity.
The circulation of money is necessary.
Under our present industrial system the
circulation of economically sound wages
la more essential than ever before," says
Mr. Frey. .......
So this labor leader repeats his thesis
that mass production demands mass
buying; and mass buying demands a
continually increasing purchasing power.
Shorter Hours.
Joseph Ryan, New York labor leader,
gees a solution of the economic difficul
ties of the present time in labor s de
mand for shorter hours of work each
dav and fewer days a week.
"Labor must receive high wages for
Its hours, no matter how short; and its
days, no matter how few,” Mid Mr.
Hyan recently. “These wages, then, will
be spent by the workers on products to
be enjoyed in their leisure hours.
He, too, joins with other labor leaders
In urging unemployment insurance “not
as a charity, but as a right due the
workers from industry.” ....
Charles P. Howard, president of the
International Typographical Union, con
demns the wage cuts as a factor in de
laying a return to prosperity.
“Men now observe that business pros
perity is inseparable from the purchas
ing power of the masses,” says Mr.
Howard. “The opportunity to sell de
pends upon the ability of the workers to
buy. and the ability of the workers to
buy depends upon employment and
his address, this labor leader agrees
With many capitalists themselves that
"reducing wages or depriving workers of
employment is not a remedy for business
depression.”
Seeger’s Career.
Few economists gained such enviable
position in the world of scholarship and
business as did Henry R. Seeger, pro
fessor of economics at Columbia uni
versity, whose untimely death in Kiev,
Russia, 10 days ago, was announced.
Prof. Seeger was the author of
numerous books on economics and
finance and was honored by his col
leagues throughout the United States
with the presidency of the American
Economic Association. ....
It was quite characteristic of this
scholar that his last work should have
been the taking over of a party of well
known American economists to Russia,
to make a careful and scientific study ol
the workings of the five-year plan,
which Soviet Russia has undertaken.
In private life, Prof. Seeger was one
one of the simplest and kindliest of
men, and thousands of students who
listened to his lectures at Columbia will
mourn his death as a distinct personal
lo The Nation itself has lost one of its
most brilliant minjis.
Dramatic Productions.
Not all dramatic productions succeed.
In fact, the vast majority are regarded
* S The' 1 Billboard, the weekly theatrical
review, announces that of the 175 dra
matic productions that opened In New
York between August 1, 1929. and July
31 1930, 87 per cent were regarded as
failures. This is 2 per cent more than
in the preceding year.
In the profession, 2.865 players acted
In the various New York dramatic pro
ductions and 2,854 were seen in musical
shows.
The most frequently seen actress and
actor last year were Eva Le Gallienne,
% who performed in 15 plays, and Robert
Ross, who acted in 14 plays.
(CoDvrlsht. 1930. bv North American New«-
* " paper Alliance, i
ZENITH RADIO.
NEW YORK, September 8 UP).— Paul
Klugb vice president and general man
ager of the Zenith Radio Corporation,
said current operations of the corpora
tion are on a profitable basis and that
the current quarter, which began Au
gust 1, should show earnings consider
ably better than in the preceding three
months, when a net loss of $6,092 was
reported, against a loss of $281,931 in
the corresoonding period last year. He
added that the profits in the next quar
ter, which includes the peak months of
the radio season, should be considerably
larger than in the current quarter.
9 - ■
»Practically every motor in
Jgr and was made in Amema
■F 1 N A N t,l A L .
Ij NEW YORK STOCK EXCHANGE I
Received by Private Wife Direct to The Star Office.
(Continued From Page 13).
»-Prev.l93o-» Stock end Sales— Prev.
Kith. Low. Dividend Rate. Add 00. Hleh. Low. Close. Close
49% 36% Myer (FE) ABr (l). 3 434* 43% 43% 43%
! 681, 301* Nash Motors (4) 33 36% 34*4 35% 34%
26% 10% Nat Acme (114) 1 13% 13% 13% 13%
20 8 Nat Bella Hess 2 9 9 9 9
93 71 Nat Biscuit n (2.10). 59 86% 84% 85% 86
83% 41 Nat Cash Reg A (t 4) 57 48% 47% 47% 48
62 45% Nat Dairy (f 2) 59 55% 55% 65% 55%
24% 13% Natl Dept Stores.... 2 15% 15% 15% 14%
39% 24% Nat Distillers (2) . 1 31% 31% 31% 31%
189% 124% Nat Lead itt) 2 135 134% 135 133
58% 32 NatPowALt(l) 144 48% 47% 47% 47%
98% 66% Nat Surety (5) 3 77% 77 77% 76%
41% 21% Natl Tea (1) 1 23% 23% 23% 23
• 32% 13% Nevada Copper (1).. 66 16% 13% 15 14%
68 27 Newton Steel (2).... 2 27% 27 27 27%
47 37% N Y Airbrake (3.60). 4 39% 39 39 40
192% 160% NY Central (8).. . 6 165% 165 165% 165%
324 174% NY A Harlem (5)... 10a 186 186 186 194
32 17% N Y Invest (120) 12 19% 19% 19% 19%
128% 97% NYN H A Hart (6). 13 108 106% 108 105%
4% 1% N Y Railways pf 13 3% 2% 3 2%
106 10ft NY Steam pf(6) 180 s 106% 105% 106% 106
117 110 N Y Steam Ist pf (7) 70s 117 116% 117 117
33% 9% Norfolk A Southern. 1 10% 10% 10% 10%
265 213% NorfA Western «10) 1 225 225 225 224
15% 7% North Am Aviation.. 16 9% 9 9% 9%
132% 87% Nor Am (blo%atk).. 56 107% 105% 106 106%
57 51 North Amer of (3).. 2 55% 55% 56% 55%
| 105 100% North Am Ed pf 16). 1 104% 104% 104% 104%
97 66% Northern Pacific (5). '4 72% 71% 71% 73
32 30 Ohio Oil Co (2) 3 31 30% 30% 30% \
24% 9% Oil Well Supply. .. . 9 24 23% 24 23 j
108 96 011 Well Sup pf (7). .100 s 105% 105 105 104%
34% 10% Oliver Farm Equip.. 10 13% 12% 13% 12%
90% 63% OlivFEq pf A (6). .. 2 66 65% 66 63%
46% 16 Oliv Farm Eq cv pf. . 5 18% 17% 18% 17%
8% 2% Omnibus Corp 65 6% 5 5% 4%
99% 63 OrpheumCirpf (8).. 10s 85 83 85 85
80% 55 OtlsElevn (2%) 4 71% 70% 71% 70%
38% 24% Otis Steel (2%) ... 1 26% 26% 26% 27
60% 45% Owens 111 Glass (3). 4 46% 46% 46% 46%
74% 52% Pacific Gaa AEI (2). 18 60% 59% 59% 58%
107% 71% Pacific Lighting (3). 12 81V, 79% 80% 79%
30 20V* Pacific Mills 10s 22 22 22 22%
178 130 Pacific Tel A Tel <7). 90- 140% 140 140% 141%
23% 12% Packard Motor (1).. 92 13% 13% 13% 13% )
67% 50% Pan-Am Petrol (B) 8 56 54% 56 54%
77V* 48% Pararn nt Publlx (4). 140 61% 60V* 60% 61%
4% 1% Park Utah 4 2 1% 2 2 I
26V- 6 I’armelee Tran (60c) 16 10% 7% 7% 10% I
9 2% Pathe Exchange. .. . 11 4% 4% 4% 4% i
19% 5 Pathe Exchange (A). 4 10% 10 10 10% j
32% 16 Patino Mines 3 16% 16% 16% 16%'
14 4 Peerless Motor Car.. 4 5% 4% 5% 4% ;
55% 26V* Penick A Ford (1)... 3 43 42% 43 42%
80 48 Penney (JC) (3) ... 3 55% 56 55 56
12% 6% Penn Coal A Coke. ... 8 7% 77% 7
65% 30V* Penn Dixie Cem pf.. 1 46% 46% 46% 46
86% 69% Tenna R R (4) 20 74% 74% 74*. 74%
325 230 People’s Gas Ch (8).. 11 274% 263% 274% 266%
27% 18 Petrol Corp (1%)... 16 18% 17% 18 18%
44% 29% Phelps Dodge (3)... 2 31% 31 31 31%
26% 11% Phila Read CA 1 98 19% 18% 19% 19%
15% 8% Philip MorrlsACo(l) 3 11% 11 11 11%
44% 29V* Phillips Petrol (n 2). 39 33% 33 33% 33%
2% 1 Pierce OH 2 1111
7% 2% Pierce Petroleum... . 5 6% 4% 4% 4%
37% 27 Plllsbury Flour (2).. 2 32% 32% 32% 32
60% 39% Pirelli Italy (a3.14). 1 40% 40% 40V* 40
78% 25V* Pittsburgh Coal 4 48% 48 48% 43
110 82 Pittsburgh Coal pf. . 1 88 88 88 85
103 93% Pitts Steel pf (7) 30s 95% 95% 95% 97
15% 4 ntts Terminal Coal. 2 7% 7% 7% 7
121% 84 Pitts A W Vat 6) 2 86% 85V* 85% 44
24% 20% Poor ACo (B) (2)... 34 26% 25% 26 24%
30% 21 PR Am Tob A(3 %) . 1 24 23% 23% 23%
27% 8 PR Am Tob (B) 2 9% 9% 9% 9%
54 33% Prairie Oil A Gas (2) 3 35 34% 35 35
60 44 Prairie Pipe L (t 5).. 29 44% 44% 44% 44%
16% 6i/, Pressed Steel Car . 17 8% 7% 8% 8
76V, 50 Pressed St Cps (7).. 1 58 58 58 57%
78% 52% Proct A Gamb (2.40). 11 75% 74'% 74% 74%
11% 6'% Prod A Refiners 5 77 76%
40 30 Prod A Refiners pf.. 20s 31 31 31 31
123% 81% Pub Sv NJ (3 40) . 83 96% 94% 95% 95
98% 91% PubSvN Jpf (5)... 1 97% 97V, 97% 97%
115 106% PubSvN Jpf (6)... 2 115 V, 116 116% 115 j
131 121 PubSvN Jpf (7).... 1 130% 130% 130% 130 1
158' 143 PubSvN Jpf (8)..., 1 155% 155% 155% 155
89% 62 Pullman Corp (4)... 6 69% 68 68 69%
8% 1% Punta AlegreSugar.. 11% 1% 1% 1% 1
27% 19% Pure Oil (1%) 37 20 19% 19% 19%j
414% 110% Pure Oil pf (8) 100, 112% 112% 112% 112%
88% 52 Purity Bakeries (4). 3 66% 65 66% 66% j
69% 32% Radio Corp 629 42% 41% 41% 41%
85 68 Radio Corp (B) (6).. 7 71% 71 71% 70% |
60 1# Radlo-Kelth-Orph A. 833 37% 36% 36% 36% I
68% 28 Raybestos Man 2 60. 2 31% 31% 31% 21% !
64% 34% Real Silk (5) 3 44% 43% 44 43% !
46% 23 Rem Rand (1.60).... 28 29% 29 29% 29% j
14% 8% Reo Motor Car (80c). 9 12% 12 12% 13%
79% 32 Republic Steel (4)... 7 36% 36% 36% 37
95% 80 Republic Steel pf (6) 1 82 82 82 82
30 13% Revere Copper A Br. 1 16% 15% 15% 14%
104 88 Revere CAB pf (7). 60s 90% 90 90 91
34% 23 Reynolds Metals (2). 2 23 23 23 28
7% 3 Reynolds Spring.... 3 3% 3% 3% 3%
68% 45% Reynolds Tob B (J). 80 52% 52% 62% 52%
28% 14% Richfield Oil (2) 130 17% 16% 17 16%
25% 15 Rio Grande 011 (2).. 44 16% 16 16% 17
56% 45% Royal Dutch a1.2165. 2 48% 48% 48% 48%
122% 57% Safeway (e6> 8 70% 66 69% 69 |
67% 33% St Joseph Lead (t 8). 7 41% 40% 41% 41% j
118% 86% StL-San Fran (8)... 3 91% 91 91 91% I
101 92 St L-San Fran pf (6) 4 95% 95% 95% 95%
31% 16 Savage Arms (2).... 3 20% 20 20% 20
13% 4V4 Schulte Retail Strs.. 18 7% 7% 7% 7
75 35 Schulte Retail pf (8) 10s 65 65 65 60
12% 4% Seaboard Air Line... 9 5% 6 5 6%
100% 56 Sears Roebuck 12 %. 33 75% 73 73 75
23 7 Second Natl Inv 1 10 10 10 9Vi ’
3% 1% Seneca Copper 5 1% 1% 1% 1%!
13% 5% Servel Inc 20 6% 6% 6% 6% |
62 31% ShattuckFG (tl%). 14 38% 38 38% 37% i
25% 14 Shell Union Oil 61 15 14% 15 15 i
106% 93% Shell Un Oil pf (5%) 4 93% 93 93 93% !
36 8% Shubert Theaters... 15 18% 17% 18% 18
94% 21 Simmons Co 66 28% 27 27% 27%
37 18 Simms Petrol (1.60). 36 20% 19% 20% 19
32 20 Sinclair Con Oil 12). 60 21% 21 21 21%
112% 108 Sinclair OH pr (»)... 2 110% 110% 110% 110%
42 27% Skelly 011 (2) 1 27% 27% 27% 28
99% 83 Skelly Oil pf (6).... 1 85 85 85 86%
8 3% Snider Packing 2 5% 6 5% 4%
118 95% Solvay Am pf (5%).. 25 117% 117% 117% 116
30% 15 Sou P Ric Sug (1.40) 25 17% 15% 17% 16%
122 103 Sou P Ric Sug pf (8) 20* 112% 112% 112% 106%
72 52% Southern Cal Ed (2). 38 59% 58% 58% 58%
127 108 Southern Pacific (6). 20 119% 117% 119 117%
136% 76 Southern Rwy (8). .. 22 86% 83% 84 86%
101 90 Southern Rwy pf (5) 1 92 92 92 91%
CORPORATION
REPORTS
TRENDS AND PROSPECTS OP
LEADING ORGANIZATIONS.
NEW YORK, September B.—The fol
lowing is a summary of Important cor
poration news prepared by the Standard
Statistics Co., Inc., for the Associated
Press:
Weekly News Review.
The stock market registered further
progress last week. Prices, which moved
in a narrow range, were higher Tues
day, declined moderately on Wednesday
and Thursday, but recovered most of
their losses Friday, and on Saturday ad
vanced to their best levels in over a
month. Volume of transactions was
again small. Indications are public in
terest in stocks is at a low ebb and that
price movements are largely controlled
by professional operations. With the
exception of Latin American issues,
bonds were strong. Our index of 30
prime bond issues touch a new high
on Friday, and is currently at the
highest point in over two years. South
American issues were disturbed by the
reports of political unrest in several
countries and receded moderately. Com
modity prices were unsettled with wheat,
rubber, coca and others touching new
year’s low. In the money market the
call rate advanced to 2Vi P« r cent. This
firmness is usual at this time of the
year when demand from Interior points
reaches its high level. Brokers’ loans in
the week of September 3 recorded an
increase of $8,000,000. This is the first
increase in brokers’ borrowings since the
week ended July 30, and brings total
loans to $3,101,000,000. Dally average
volume of Federal Reserve Bank Sys
tem’s statement were Increases of $38,-
000,000 in holdings discounted bills, $14,-
000,000 in Treasury notes and $7,000,000
in holdings bills bought in open market,
while holdings of United States bonds
declined $12,000,000 and Treasury cer
tificates $2,000,000. Reserve ratio stood
at 80.8 per cent, against 81.9 per cent in
the preceding week and 73.2 per cent a
year ago.
Reports from industry published dur
ing the week disclosed further seasonal
expans.on has been experienced in sev
eral lines.
Railroad freight car loadings, an indi
cator of merchandise distribution and
industrial activity, recorded a larger
than seasonal expansion in the week of
August 23 over the preceding week.
Total of 940,549 cars was 1.9 per cent
above the previous period. Grain and
THE EVENING STAR, WASHINGTON, D. C., MONDAY. SEPTEMBER 8. 1930.
Prev 1930—, Stock and Sale,— Prev.
Hlsh. Low Dividend Rate. Add 00. High. Low. Clo»e. Close.
96 92 Spang-Chal pf (6)... 10* 94% 94% 94% 39%
30% 13% Sparks Withlng (1).. 10 22 21% 21% 22%
36% 14% Spicer Mfg 1 16% 16% 16% 16%
29V. 17 Stand Brands (1%).. 64 20% 20 20 20%
7Vi 3Vi Stand Comm Tob ... 4 6V* 6 6% 6
129 Vi 84% Stand GA E (3%)... 79 107% 105% 105% 106
67 61% Stand GA EV (4).. 1 66 66 66 66%
15% 5 Stand Invest Corp... 17 77 7
75 55% Stand Oof Cal (2%). 15 61% 61 61 60%
106 98 Stand Oil Exp pf (5). 1 105% 105% 106% 105
84% 58 Stand Oil of N J <t2) 150 70% 69% 69% 70
40% 30 Stand Oil N Y (1.60). 34 31% 31 31 31%
47% 27% Starrett (LS) (t 2%) 6 36% 35% 36% 35%
20% 9% Sterling Sec (A) 3 11% 11% 11% 11
14% 11 Sterl Sec pf (1 20). .. 2 11% 11 11% 12
47 19% Stewart-Warner (2). 20 28 27 27% 27%
113% 70% Stone A Webster (4). 85 82% 79% 80% 79%
47% 25% Studehaker Corp (3). 32 32 31% 31% 31%
70 50 Sun Oil (HI) 2 59% 59 59 58%
108 102% Sun Oil pf (6) 125a 106% 106% 106% 106%
9% 2 Superior Oil 6 2% 2% 2% 2%
29% 12% Superior Steel 3 13% 13% 13% 13
45% 38 Superheater (t 3 %).. 1 44 44 44 44%
17% 7% Symington (A) 18% 8% 8% 9%
17 10% Tenn Cop ACh <])... 26 11% 11 11 11%
60% 50% Texas Corp (3).. .. 14 51% 50% 51 61%
67% 48% Tex Gulf Sulph (4).. 44 60% 59% 60 59%
32% 13% Texas Tac Land Tr.. 164 22% 21% 21% 21%
110 102 The Fair pf (7) 10* 105 105 105 105
26% 11 Thermoid Co 133 14% 12 14 12%
15V, 6% Third Avenue 5 13% 12% 12% 12%
46% 24% Third Nat Inv (2)... 3 30% 30 39 29
18% 9 Thompson Starrett.. 1 11% 11% 11% 11%
17% 10% Tide Water As (60c) 26 13% 13% 13% 13%
89% 78 Tide Water As pf (6) 2 85 84 85 84%
21V* 12% Timken Det Ax (*oc) 17 13% 12% 13% 12%
89% 55V* Timken Roller (3). .. 27 69% 68 69% 68
13V. 7% Tob Prod (A) (80c).. 10 13 12% 13 12%
25% 19 Transamer (t 1.60). . 357 26% 25 25% 24%
20% 9% Tri-ContCorp 21 13% 13% 13% 13%
95 89V* Tri-ContCorp pf (6). 3 95 95 95 95
37% 25 Truscon Stl (g 1.20).. 2 28 28 28 28
31% 10 Twin City RTr (H). 1 12% 12% 12% 11%
79 63 Twin City RT pf (7) 20s 63 63 63 63
24 21 Ulen ACo (1.60) .. 2 24 23% 24 24
138 83 ITnd-Ell-Fischer (5). 4 97% 97 97% 97%
106% 60% Union Carbide (2.60) 215 81% 80 80 80%
50 37 Union Oil of Cal (12) 17 41 40% 40% 40%
242% 200 Union Pacific (10). .. 4 220 218 218 219%
38% 25% l/n Tank Car (1.60).. 3 26 26% 26 25%
99 43% Utd Aircraft 369 62% 61% 61% 61%
77% 56 Utd Aircraft pf (3).. 7 68 67% 68 67%
58% 36 Utd Biscuit (1 60)... 2 45% 45% 45% 46
84 40% Utd Carbon (2) 45 53% 51% 52% 51%
8% 5% Utd Cigar Stores.... 5 7V* 7% 7Vi 7%
52 28% Utd Corp <6oc) 1536 36% 34% 35% 34%
53% 46% Utd Corp pf (3) 13 60% 50% 60% 50%
H 4% Utd Dye wood 10s 5 5 5 5%
19% 7 Utd Electilc Coal. ... 2 8 8 8 8
105 83 Utd Fruit (4) 7 88% 87 87 88%
49% 31% Utd Gas Alm (1.20). 171 38% 37% 38% 37%
103% 97 Utd Gas Alm pf (5). 3 103% 103% 103% 102%
32% 22 Utd Piece Dye W (2) 94 28% 26% 28% 25%
14% 4% Utd Stores (A) 11 10% 10% 10% 10%
50** 15% Utd Stores pf (2%)t. 6 48% 47 48% 48
20% 9% U S Distributing 10% 10% 10% 10%
32% 15% USAForSecur 3 17% 17% 17% 17%
101 85% US A For Sec pf (6). 2 91% 91% 91% 91
103 40% US Freight (3) 2 47% 47 47V, 46
139% 69 U S Ind Alcohol (t7) 36 78% 74% 76% 74
15% 7% US Leather 18% 8% 8% 8%
26 15 US Leather (A) 2 16V* 16 16 15%
94 77Vi USLeathpr pf (7).. 1 83 83 83 83
38% 18% U S Pipe A F (2) 73 36% 36% 36 36%
21 15% USPA F Ist (1.20). 1 19% 19% 19Vi 19%
75% 41 US Realty (5) 5 44% 44% 44% 44%
35 18% U S Rubber 17 20% 20% 20% 19%
63% 38 U S Rubber Ist pf. .. 7 40% 39% 40% 39%
36% 17% U S Smelt A Ref (1). 2 21% 21% 21% 22
198% 151% US Steel <7) 655 173% 171% 171% 173%
148% 141 U S Steel pf (7) 6 148 V, 148 148 148%
39 19% UnlvLeaf Tob (3)... 12 27% 26% 27% 27%
9 2% Univ Pipe A Rad 2 4V* 4% 4% 4%
45% 30 UtilPow ALt A (e2) 17 35V* 35V* 35% 35%
7% 1% Vadasco Sales Corp.. 72% 1% 2% 2
143% 49% Vanadium Stl (t 4).. 508 87% 84% 84% 87%
8% 4 Va-Car Chem 14% 4% 4% 4%
104% 101 Va El A Pow pf (6). .120* 104', 104% 104% 103%
34 12 Va Iron Coal A Coke. 90* 25 25 25 32
61 38 Va Iron Coal A C pf. ,140 s 61 60 60 61
156 60 Vulcan Det (4) 739 s 88 84 84 86
67% 28 Wabash 1 32% 32% 32% 32%
31% 24% Waldorf Systrn (1%) 9 27% 26% 27 27
42% 20% Walworth Co (2).... 1 26% 26% 26% 26%
16% 4% Ward Baking (B). . 19% 9% 9% 9%
27 11 Warner Quinlan.... 7 11% 11% 11% 11%
63% 40V* Warren Bros (3).... 5 53% 52 58% 61%
80% 24% Warner Bros Piet... 679 31% 29% 29% 30%
70% 36% War Br Ppf (2.20).. 32 48 48 48 47%
i 20% 18% Warren Bros Ist (1). 30s 16% 16% 16% 19%
55 50 War Bros cv pf (*)..120s 64% 62% 54% 64V*
9% 4% Webster-Eisenlohr.. 9 6% 4% 6% 4%
24% 9 Western Dairy (B).. 19% 9% 9% 9%
110 99 West Penn El A (7). . 20* 107% 107% 107% 106%
104 97% West Penn El pf (6). 10* 101% 101% 101% 101%
112 105% West Penn El pf (7). 20s 111% 111% 111% 112
111% 104% West Penn Pw pf (6) 10s 109% 109% 109% 110
118% 113% West Penn Ppf (7).. 80s 117 117 117 117%
50 37% Western Dairy A (4). 1 38 38 38 38
36 18% Western Md 4 24% 24 24 25%
219% 1504* Western Union (»).. 6 174% 173 173 174%
52 36% Westingh’se A B (2). 82 40V, 38% 40% 38%
201% 124% Westing EA M (6). . 226 156% 153% 154% 165
48V* 29% W’eston El Instr (1). 1 35 35 35 34
13% 4% White Sewing Mach.. 1 4'/, 4% 4% 4%
43 27% White Motors (2)... 3 34% 34% 34% 34%
21 11% Wilcox Oil A Gas..., 1 16V* 16% 15% 15%
34% 27 Wilcox Rich A (2%). 1 27 27 27 28
11 6% Willys-Overland 71 6% 5% 6 6%
13 7% Wilson ACo (A) 2 9% 9% 9% 9
72% 51% Woolworth (2,40)... 50 65 64 64% 64%
I 169 67% Worthington Pump.. 21 135% 133% 133 V, 185%
81 67V* Wrigley (Wm) (4).. 1 74% 74% 74% 74%
77 38 Yale A Towne (2)... 2 40% 40% 40% 40%
32% 12% Yellow Truck 282 23% 23 23% 23%
1 47 &2% Youngs Spring (3). . 25 41% 40% 40% 41%
j 16% 5% Zenith Radio 3 8% 8% 8% 8
RIGHTS EXPIRE
3 % Warn Bros P.Sept 15 171 2% 2% 2% 2%
Sain of Stocks on New York Exchange.
10:30 A.M 342 800 12:00 Noon 1 192,000
1:30 P.M 1.678 300 2:10 F.M 1 910 500
Dividend rate* a* given m the above table are the annuel
cash payments based on th* latest quarterly or half yearly declare
tions.
• Onlt of traitnc less than 100 share*, tPartly extra (Plat 4
per cent In stock {Payable In scrip (Plus 9 per cent In stock
a Paid this year—no regular rate b Payable in stock d Payable
when earned a Payable In cash or stock t Plus 10 per cent In
stock g Plus 6 per cent In stock h Plus 3 per cent in stock.
J Plus • per cent In stock, k Plus 3 per cent In stock, m Plus 1
per cent In stock, n Plus t per cent In stock, p Plus SOo cents in
preferred stock, r Subject to approval of stockholders.
grain products, coke and ore were the
only classifications failing to show an
increase In loadings over the week pre
vious. Compared with last year, however,
the contrast is distinctly unfavorable
with the decline reaching 17.3 per cent,
the largest of any week alnce the be
ginning of the present contraction in
freight last year, steel ingot produc
tion, as estimated by Dow, Jones <& Co.,
showed a small reduction in output from
the previous week, due. largely to the
holiday, but the Iron Age figures placed
outturn of the industry at 55 per cent
capacity, compared with 54 per cent in
previous week and 52 per cent three
weeks ago. A survey at this time of the
various sources of demand leads to con
clusions ingot output will be adanced
further in the early future weeks. How
ever, nothing more than normal sea
sonal expansion is looked for. Produc
tion of electricity in the week before
last declined 0.7 per cent from the prev
ious week and was 4.3 per cent below
same week of 1929.
Construction Work.
Construction contracts awarded in the
States east of the Rocky Mountains
during August aggregated $347,318,300,
according to F. W. Dodge Corporation.
This was a drop of 5 per cent from July
total and 29 per cent smaller than in
August, 1929. For the first eight months
of 1930 building awards declined 19 per
cent from year ago.
Automobile production during August
in the United States and Canada is es
timated at 240,100 cars by National
Automobile Chamber of Commerce.
This is the smallest output of any cor
responding month since 1921. Com
pared with July, production declined 12
per cent, while against a year ago
drop was 52 per cent. Including esti
mate for August, output in the first
eight months was 2,842,844 units, com
pared with 4,444,947 in like period 1929,
a decline of 36 per cent. The decrease
in outturn during August was about as
anticipated, as most plants were on part
time during the month. September is
not expected to make a much better
showing, as output continues restricted
to trade requirements.
Statistics of the petroleum industry
continued to Indicate progress in re
duction of stocks and balancing of sup
ply and demand. Crude oil output was
reduced 9,150 barrels and gasoline
stocks 1,027,000 barrels in the week of
August 30. Stocks of gasoline are cur
rently about 16,000,000 barrels below
the year’s high point and the lowest
since December 7, 1929. In response to
the improving position of the refining
division, the wholesale price of United
States motor gasoline in midcontinent
market advanced one-half cent to 6
cent* during last week.
The Companies.
Ailes & Fisher. Inc., first half earn
ings 92 cents common share, against
$1.47 year ago.
Arizona Commercial Mining August
copper production estimated 320,102
pounds, against 314,179 year ago.
Bunker Hill St Sullivan Mining St
Concentrating July profit before de
preciation and depletion, $188,152; 7
months, $1,550,669.
Chrysler Corporation introduces new
11*:-ton Dodge truck in four models,
list price, $595.
Diamond Match recapitalization plans
involve formation of new company to
take over present conoem in return for
850,000 shares new 6 per cent $25 par
preferred and 680,000 shares no par
common; 20.000 new common shares to
be issued for expenses and 350.000
shares to be sold to bankers: each pres
ent share would receive five new pre
ferred. four new common shares and
special cash dividend $25.
Kirsch Co. earned $1.35 common share
in year to June 30, against $2 previous
year.
S. H. Kress St Co. August sales off
3.6 per cent; eight months, 3.4 per
cent above year ago.
Kroger Grocery St Baking sales 34
weeks and 4 days’ sales off 6.1 per
cent; had 5,216 stores August 30, vs.
5,607 year ago.
Mellville Shoe August sales off 0.5
per cent; eight months, up 13.8 per
cent over year ago; excluding sales
Traveler stores, increase was 0.2 per
cent.
National Electric Power August elec
tric output up 3.1 per cent; eight
months. 7.7 per cent above year ago.
Phelps-Dodge Corporation reported
seeking to acquire National Electric
Products.
Prentice-Hall, Inc., earned $4.20 com- ]
mon share in 12 months to June 30,
vs $4.01 previous year.
Union Carbide St Carbon subsidiary,
Oxweld Acetylene, buys 40-story Car
bide St Carbon Building from 230 North
Michigan Avenue Building Corporation.
Standard Oil Dividends.
NEW YORK, September 8 (jP).—Cash
dividend disbursements of the Stand
ard Oil group in the third quarter to
taled $68,859,106, compared with $68,-
590,901 in the second quarter and $65,-
425,981 in the third quarter last year.
-
» BANK CLEARINGS.
NEW YORK, Septembers (Special).—
Today. A year ago.
- New York bank
I clearing* 1553.000.000 3591,000.000
New York bank
balance* 149.000,000 114.000,000
New York Federal
Reserve Bank
1 credit* 113,000.000 131,000.000
BOND PRICES WEAK
ON HEAVY SELLING
Developments in Argentina
Cause Liquidation—Money
Rates Are Higher.
BY F. H. RICHARDSON.
Special Dispatch to The Btar.
NEW YORK September B.—With a
budget of over 540.000.000. consisting
entirely of new municipal bonds, a ten
dency toward slightly harder rates for
time money and heavy selling of South
American bonds on the political devel
opments in the Argentine, listed bonds
were weak today.
Prime bonds were either unchanged
or off by small fractions, reflecting the
new offerings and the threat of tighter
money rates. Second-grade domestic
issues were sold in switching operations
to the new flotations.
The activity was all in the foreign
department, where selling forced the
entire Argentine group off a point or
more, though this was well absorbed by
investors who believe that a new ad
ministration in the Argentine may be
beneficial to American capital there.
This theory was built up on the belief
that former President Irlgoyen was
anti-American and favored British
trade relations. It was supported by
cables from London today expressing
nervousness over the situation. It
served to keep the losses in Argentine
loans within narrow limits.
There was. singularly, little sympa
thetic liquidation of other South Amer
ican dollar credits. Uruguayan and
Peruvian issues were off fractionally in
response to reports that diplomatic re
lations between Uruguay and the new
military Junta controlling Lima govern
ment are strained and that the Uru
guayan envoy has left for home. Other
wise the South American group was
quiet and unchanged.
Japanese credits were strong. The
recently issued s*/ 2 s were active and a
shade higher. French Cities 6s were af
fected by overseas buying, though other
French obligations sagged a little. Ger
man bonds were irregular.
Mexican bonds scored some substan
tial advances, with the Street’s view
of the situation there considerably
strengthened by a first installment on
the new debt reorganization and advices
from Mexico City that the new debt
plan will be approved.
In the prime domestic section Ca
nadian National ss, Pennsylvania 4 */ 2 s,
Frisco “A" 4s, Great Northern 7s and
Standard Oil of New York 4 y 3 a were
fractionally lower. Offsetting gains were
made by Chicago, Burlington & Quincy
general 4s, American Telephone 5* is
and New York Telephone 4'/ 2 s. Con
vertibles were strong, after a dull open
ing. American I. G. Chemical 5* 2 s.
Atchison 4*£s, American Telephone
4 1 ' 2 s, International Telephone 4'/ 2 s,
Texas Corporation 5s and Loew’s 6s all
improved.
St. Paul ss. with a I=4-point gain;
St. Paul adjustments, with a point ad
vance, and Chicago Great Western 4s
up */2 point featured the Junior rails.
There were also small gains in Mis
souri-Pacific 4s and Southern Railway
4s, but the rest of the list was un
changed or slightly lower. The St. Paul
issues responded to continued reports
of better traffic conditions. Fisk 8s and
Pathe 7s were two semi-speculative in
dustrials that improved. National Dairy
Products 5»,4s were % point higher. An
glo-Chilean Nitrate 7’s, International
Paper ss, Dodge Brothers 6s. Armour
of Delaware 5V 2 s, Goodyear 5s and U.
S. Rubber 5s were off. New York
traction bonds continued active and
strong.
Washington Stock Exchange
SALES.
Washington Rwy. & Elec. 4s—sl,ooo at
89=4.
Capital Traction Co.—lo at 60%.
Anacostla & Potomac R. R. ss—sl,ooo
at 82=4.
Potomac Electric 5%% pfd.—s at 108*2.
Washington Rwy. & Elec. pfd.—s at 98.
National Bank of Washington—lo at
250. 10 at 250.
Washington Loan & Trust Co. —2 at
480.
Columbia Sand & Gravel pfd.—lo at
89%.
District Nat’l Securities pfd.—s at 72.
Mergenthaler Linotype—B at 97.
National Mige. & Inv. pfd.—loo at 5,
100 at 5, 100 at 5.-
The Carpel C 0.—50 at 24, 100 at 24, 65
at 24. 65 at 24, 50 at 24*/ 4 .
AFTER CALL.
Washington Gas —5 at 124%, 4 at 124%.
Chevy Chase Dairy pfd.—lo at 103. i
Potomac Electric 5%% pfd.—4 at 108%.
Peoples Drug Stores pfd.—s at 101%.
Bid and Asked Prices.
BONDS.
PUBLIC UTILITY.
Bid. Asked.
Araer Tel. A Telga 4%s '33... 101
Amer. Tel A Tel. 4%s ’39 ISO
Am. Tel. Sr Tel. cti tr. 5s 105%
Anacostia A Pot. R. R. 5s 82% ....
Ana. A Pot. guar. ss. 93
C A P. Tel of Va. 5s 102%
Capital Traction R R. 5s 93% 94
City A Suburban 5s 81 82%
Georgetown Gas Ist 5s 103%
Potomac Elec. cons. S% 102 102 s ,.
Potomac Elec, fls 1953 108
Wash... Alex St Mt Vernon ctf. 8
Wash.. Balto. A Annap. 55... . 48 52
■Washington Gas 5s 103% 104*:,
Wash. Gas 6s. series A 102% 103
! Wash. Gas 6s. series B 105% 107 M.
Wash. Rwy. A Elec. 4s 89% 89%
MISCELLANEOUS.
Barber Si Ross. Inc., 6%s 89 90
Chevy Chase Club 5%s 100
D. C Paper Mfg. 6s 50 75
W. M. Cold Storage fa 95
Wash Cong. Title 6s 89 100
STOCKS.
PUBLIC UTILITY.
Amer. Tel. & Tel. <9l 217%
Capital Traction Co. (4) 60% 60%
Wash. Gas Lt. Co. (18) 121 131
N & W Steamboat (12) 225 255
Pot. Elec. Power pfd 110 112
Pot. Elec. Power 5%% pfd 108% 109%
Wash. Rwy. A Elec, com (7)... 500
NATIONAL BANK.
Capital (14) . 230 250
Columbia (12) 400
Commercial (stamped) (10).... 225 235
District (8) 212 250
Federal-Amerlcan (10) 275 300
Liberty (7») 200 215
Lincoln (12) 400 440
MetropoMtan (14) 350 385 .
Riggs (15) 475 510 !
Second (9e) . 185 210 I
Washington (13) .... . 245 255 \
TRUST COMPANY.
Amer. Security A Trust (151... 385 405
Continental Trust (6) 120 140
Merchants' Bank A Trust (6). 125 150
National Sav. A Trust (12t) .. 545 f.BO ,
Prince Georges Bk. A Tr 35 40
Union Trust (8g) 260 300 ;
Wash. Loan A Trust (14)... . 480 510
SAVINGS BANK.
Bank of Bethesda <6§)... 58 65
Com A Savings (10) 330
East Washington (12) 25 35
Potomac (10) 66 75
Sec. Sav. A Com (17) 471 500
Seventh Street (12) 315
United States (30) 530 630
Wash. Mechanics’ (22) 50 60
EIRE INSURANCE.
American (12) 320
. Corcoran (10) 150
Firemen s (8) . 33 36
I National Union (15) 22 38
TITLE INSURANCE.
Columbia (6h) 8% 12
Real Estate (6h) 155 175
Title A lnv. Co. Md com 20 30
MISCELLANEOUS.
Barber A Ross. Inc., com 15 18
Chevy Chase Dairy pfd. (7) 103 105
Col. Sand A Gravel pfd. (7).... 89 94
Columbia Bldg. Medical Corp.. 100
D. C. Paper Mfg. pfd 10
Diet. Natl. Bec. pfd. (7) 70 85
Emer. Bromo-Seiz. “A" (2).... 30% 32
Federal Btorage pfd. (8) 110 125
Ped.-Amer. Co. com. (1.201).... 30% 31
Fed.-Am. Co. pfd. (6) 99 101
Lanston Monotype (8) 113 116
Mer. Tr. A Stge. com. (10) 103 110
Mer. Tr. A Stg. pfd. (7) 95% 100
Mergenthaler Linotype (7n>— *96% 97V,
Natl. Mtge. A Inv. pfd 5 5%
Peoples Drug Bto. pfd. (6%‘V.) .*lOl% 102%
Real Est. M. A Inv. pfd. (8). .. 6% 6%
Security Storage (4e> 112 114
Ter. Ref. A Whr. Corp. (3) 47 51
The Carpel Corp. (1 50) 24% 24%
W. Mech Mtge. com. (8) 8%
Wash. Med Bldg. Corp.. 95
Woodard A Lothrop pfd. (7).. 108 109
•Ex dividend y 3%% extra.
B Books closed. f 3% extra.
n3sc extra. h 4% extra.
1 130 c extra. IF* extra.
ll* extra. ( dEx rights
«l%* extra. V wt—when Issued.
;
| ON NEW YORK BONDS STOCK EXCHANGE |
Received by Private Wire Direct to The Star Office
UNITED STATES.
(Sales are In 81.000.)
Sales. High. Low Close.
Lib 3%s 6 101 100 30 101
Lib Ist 4 *4a.. 23 102 5 1021 102 1
Lib 4th 4*4*. 32 103 102 30 10230
I’Slli* ’62.. 2 112 20 112 15 112 20
FOREIGN.
Sales. High. ik>w. Close.
Argentine 55’45... 3 87% 87% 87%
Argentine 5%a’62. 14 91% 90% 90%
Argentine May ’6l. 32 96 94% 95
Argentine 6s Ju’69. 27 95% 95 95%
Argentine 6s Oc’s9. 28 96 94% 94%
Argentine 6a A’s7. 30 96% 95% 95%
Argentine 6s 8’58., 29 91% 94% 94%
Australia 4%5’56.. 2 81% 81 81
Australia 65’55 5 88% 88 88%
Australia fia *67.... 3 88 88 88
Austria 7a *43 3 104% 104 104
Bkof Chile 6%«’57. 2 96% 96% 96%
Bk of Chile 6%s '6l 2 97 96% 96%
Belgium 65’55 30 106 105% 106
Belgium 7s’os 1 114% 114% 114%
Belgium 75’56 19 110% 110% 110%
Belgium Bs’4l 5 109 109 109
Bolivar 7s’sß 14 67% 67 67%
Bolivia 7s ctfs’69.. 15 68% 67% 68
Bolivia Bs'4s 17 88% 87% 87%
Brazil 6%5’26 24 75% 74 74%
Brazil 6%5’27 60 73% 72% 73
Brazil 7s 2 86% 86 86%
Brazil 8s ’4l 15 96% 96 96
Bremen 75’35 1 102% 102% 102%
Canada ss'3l 1 101 101 101
Chile 6s ’6O 4 89 88% 89
Chile 6s 61 12 89% 88% 89%
Chile 75'42 1 101 101 101
Colombia 6s Jan’6l 1 71 71 71
Copenhag 4%5'53. . 4 94% 94% 94%
Copenhag 5s ’52.... 3 100% 100% 100%
Dan Mun 8s A ’46.. 10 109% 108% 109%
Denmark 4%a’62.. 54 94% 94% 94%
Denmark 6%5’56.. 12 101% 101% 101%
Denmark 6s ‘42.... 1 106 106 106
Dutch East I 65’47. 7 103 102% 103
Dutch East 1 65’62. 1 102% 102% 102%
Finland 5%5'68... 2 88% 88% 88%
Finland 7s 'SO 2 100% 100% 100%
Fram I D 7%s ’42.. 10 109 108% 109
French 7s’4!) 18 120% 120% 120'%
French Gvt 7%s 41 30 125% 125% 125%
Gelsenkir Min 6s '34 5 95% 95% 95%
German 5%s ’65. .. 26 87 86% 86%
German Bank 6s ’3B 7 90 88% 90
German 7s rep ’4B. 3 105% 105% 105%
Ger Gen El 7a '45... 5 102% 102% 102%
Haiti 65’52 3 95 95 95
Hungary 7%5'44.. 5 99% 99% 99%
Italy 7s’sl 16 98% 98% 98%
Italy Pub Sv 7«’62. 8 95% 95% 95%
Japanese 4s '81.... 11 97% 97% 97%
Japanese 5%s ’65.. 56 93% 93% 93%
Japanese «%5'64.. 3 105% 105% 105%
Jugosl Bank 75'57. 6 85 85 85
Karstadt 6s ’43 1 74% 74% 74%
Kreug & Toll 5s '59. 22 98% 98 98%
Lyons 65’34 3 106 105% 105%
Marseille 65’34. ... 1 105% 105% 105%
Mex 4s asstd 1904.. 13 17% 17 17
Mex «sasstd 1910.. 31 20% 19% 19%
Milan 6%5'52 51 90 89% 90
Montevideo 7s ’52.. 4 101% 101 101
Netherlands 65’72. 10 105% 105% 105%
New So Wales’s7.. 6 86% 86 86
New So Wales’6B.. 2 86 86 86
Nord 6% s ’SO 2 106 105% 106
Norway 55'63 5 100% 100% 100%
Norway 5%5'65... 10 102% 102% 102%
Norway 65’43 12 105 104% 104%
Norway 65’44 6 105% 105% 105%
Norway 6s 52 10 103 102% 102%
Orient dev 5%5’58. 5 92% 92% 92%
Orient dev 6s ’53 ... 4 99% 99 99
Parls-Ly M6s ’6B .. 5 104% 104% 104%
Parls-Ly M7s ’58.. 7 106% 106 106%
Peru 6s’6o 17 67% 66% 66%
Peru 7s 59 2 88 88 88
Poland 7s ’47 11 85 84% 85
°oland 8s ’6O 3 94 93% 93%
Queenland 6s *47... 12 100% 100% 100%
Queenland 75'41... 9 104% 104 104
Rhine West 6s '53. 5 90% 89 89%
Rhine West 6s ’53.. 2 90 89% 89%
Rhine West 75’60.. 1 100 100 100
Rio de .Tan 6%a *53. 17 69 67% 68%
Rio de Jan 85’46... 7 95% 95 95
RGr De Sul6s’6l.. 2 60% 60% 60%
Rome6%s’s2 9 91% 91 91%
Roy D4s 45 ww... 25 91 90% 90%
Saxon 75’45 10 98 97% 98
7 * i 2 5 107% 107% 107%
Serbs-Cr SI 75’62.. 8 87 86% 87
Solssons 65’36 4 105% 105% 105%
Sweden 5% s ’64.... 5 105% 105% 105%
Swiss 5%5’46 1 105 105 105
Swiss Confed 8s ’4O 4 107 107 107
Toho El Pow 6s ’32. 23 100% 100% 100%
Toho El Pow 75’55. 4 100% 100% 100%
Tokio 5%s ‘6l 10 92% 92% 92%
L’td King 6V 5'37.. 7 105% 105% 105%
Uruguay 6s’6o 19 93% 93 93
Uruguay Bs’46 1 105% 105% 105%
Vienna 65‘52 2 87 86% 87
Warsaw 7s’sß 1 72% 72% 72%
Yokohama 6s ’61... 17 99 98% 98%
MISCELLANEOUS.
Abltibi P&P 5s ’53 14 86% 86% 86%
Allegheny 55’44. .. 29 100% 100 100
Alleghany 55’49. .. 44 100 99% 99%
Am AgCh 7%s ’4l. 1 104% 104% 104%
Am F P 5%s 2030. . 75 89% 89% 89%
Am IG Ch 6%5'49. 41 107% 107% 107%
|Am lnt Cor 6%s ’49 20 99% 99% 99%
Am Metal 5%5’34.. 12 97% 97% 97%
Am N Gas 6%5’42. 6 78 77 78
Am SAR Ist 55’47.. 1 103% 103% 103%
Am Sug Ref 6s ’37.. 2 103% 103% 103%
Am TATcv 4%a’39. 64 164 162 162%
Am TAT 55’65 33 106% 106% 106%
Am TAT ctr 65’46. 4 106 105% 106
Am TAT 6s sf’6o.. 27 106% 106 106%
Am TAT 5%s ’43 ... 52 109 108% 108%
Am VV WksSs’34.. 20 102% 101% 102%
AmWrit Pap 6s ’47. 6 78% 78 78%
Arm ACo 4%s ’39 22 93 92% 93
I ?! 1 t » H ,*’ 4 3’ •• 31 «2% 81% 82
At Gulf 59s 5 174 v(, 74% 74^
Bell Tel Pa 5s B'4B. 11 107% 107% 107%
Bell Tel Pa 5s C’6o. 5 111% 11314 ni%
Beth St p m 55'36.. 6 102% 102% 102%
Beth St rfSs’42.... 1 104 104 104
Bk Ed gn Ass ’49.. 44 106 105% 106
de 5 K 62 46Wl 46 *» 46%
Chile Cop db 65’47. 22 97% 97 9714
Colon Oil 6s '38.... 3 68 68 68
Col GAE 5s May’s 2 14 104 102% 104
Com Invest 5%5’49 8 96 95% 95%
Com Invest 6s'4B 9 100 99%' 100
Con GN Y 5%5’45. 13 107 106% 106%
De Edison 6s’4o. ... 6 105 104% 104%
Det Ed rs 6s B’4°.. 9 107% 107% 107%
Dodge Br c01’40... 2© 9514 94k, 9514
Duquesn# 4%s ’67.. 4 103% 103% 103%
East C Sug 7 %s’37. 2 53 53 53
Fisk Rub Bs’4l 1 7m 7IH 71%
Gen Cable 6%s ’47.. 10 97 95 97
Gen Motors 6s ’37.. 11 104 103% 104
Gen PSv 5%s ’39... 3 99 .99 99
Gen Thea Eq 6s’4o. 4 96 96 96
Good lst6%s 47... 18 105% 105% 105%
Goody’r Rub 65’57. 8 93 92% 93
; Humble Oil 5s ’37.. 7 102% 102 102%
I Hum OAR 5%s ’62. 3 102% 102% 102%
| Inland Steel 4 %s’7S 15 97% 97% 97%
Int Cement ss’4B. 17 102 101% 101%
1 lnt Hydro El 65’44. 17 101% 101% 101%
lnt Match 55’47 49 101 100% 100%
! Int Pap 5s A’47.... 15 82% 82 82
| lnt Pap 6s 65 1 85% 85% 85%
IntTAT 4%5’52.. 8 89% 89 89
Int TAT cv 4%s ’39. 46 107% 107 107
Int TAT 8s ’65. .. 57 96% ggg^
Kan GasAE 4%s ’BO 25 96% 95% 96%
Laclede 5%s C ’63.. 20 104% 104 104%
Laclede 5%s D’6o. 1 103% 103% 103%
Lautaro Nit 6a’54.. 12 79 77% 79
Lis * Myers 6s’6l. 2 105% 105% 105%
Loew’s 6s war ’4l. . 2 123% 123% 123%
Losw’s 6a ex war... 15 100% 100% 100%
Lorillard 6%5’37.. 12 97% 97 97%
LorlUard 75’44.... 3 111 m m
McCormack 6s ’34.. 1 102 102 102
Mid St AO 5s *36... 3 101% 101% 101%
Mont Pow 55’43... 7 103% 103% 103%
Mont Pdb6s A ’62 . 2 103% 103% 103%
Mor ACo Ist 4%5.. 1 85 85 85
Nat Dairy 6%5’48.. 107 100% 100 100%
N Eng T Ist 65‘62. . 12 108% 108% 108%
NYEd 5s 8’44. .. . 2 106 105% 106%
N YEd Ist 6%5’41. 21 114% 114% 114%
N Y Tel 4%s ’39. ... 1 101% 101% 101%
NY Tel 6s ‘4l 4 107% 107% 107%
NY Tel 65’49 3 111% ni%
Nor Am Ed 5%i ’63 15 103% 103% 105%
Nor OTSLIs’4I. 3 106% 105 105%
Nor St Pow 6s A ’4l 1 103% 103 103%
Nor St Pow 6s B ’4l 2 106 106 106
Paramount 65’47.. 15 100% 100% 100%
Pathe Exch 75’37. . 7 58 58 58
Peoples’Gas 6s 12 105 105 105
Phlla Co 6s ’67.... 10 102 1/)1% 101%
Phlla A Read 65’49. 74 102 101% 101%
Phil Pet 5%s ’39 .. 82 97% 97 97%
Por R Tam 6s ’42.. 1 83 83 83
Pos Tel AC 6s *53.. 184 93 90 90
Pub Sv-G 4%s ’70.. 2 102% 102% 102%
Pure Oil 6% ■ ‘IT ... 12 100% 100% 100%
Rem R’d sss• A *4T . 18 99% 99% 99%
FINANCIAL.
Sale*. Hlsh. Low. Clo»*
Rlchfl'd O cal (• *44. 12 83* 82 82
Slncl O 6*s B ’ll. . 7 103* 103* 103*
Slncl OTsctA ’ST.. 66 105 104* 105
Slncl Cr O 5* s ’lB.. 6 102* 102* 102*
Sinclair PL. 6a '4*.. 28 102* 102* 102*
Skally Oil 6*5’39.. 27 96* 96* 96*
Solvay Am 6s ’42... 3 99* 99* 99*
Sou Bell TAT Ba ’4l 5 106* 104* 106*
SW Bell T6a A ’54.. 9 106* 106* 105*
St Oil N J65’4«.... 23 104* 104 104*
St Oil N Y 4*s ’51.. 5 100* 99* 100*
Tsnn El P 6s A ’47.. * I»7* 107* »«*
Tox Corp cv 5s '44.. 92 104 103* 103*
Trana 011 6*s ’31., 1 110 110 110
Utd DrugcvSs’s3.. 17 100 99* 99*
U S Rublst 6a ’47.. 25 83* 82S 82*
Utah PAL 6a ’44... 2 102 102 102
Util Pow 6%a'47... 9 90* 90* 90*
Vart Bug lat 7a *42. 1 38 38 38
Warn Br Pic 6a '39. 33 89* 89 89
Wast Un Tel 5«’51. 2 106 105 105
West Un T 6*s ’34. 1 110 110 110
WEO s*s’37ww. 1 104* 104* 104*
Wil-Ov Ist 6*s'33. 3 101* 101* 101*
Wil A Co Ist 6s'4l. 4 101* 101 101*
Win R A 7*B ’41... 1 103 103 103
You St AT 68’73... 23 104* 104* 104*
RAILROAD.
Ann Arbor 4s ’52... 4 84* 84* 84*
Atchison adj 4a'95. 2 95 95 95
Atchison gen 45‘95. 13 98 97* 98
Atchison cv 4*8'43 12 131* 131* 131*.
At A Bir 48 '33 1 75 75 75
At CL Ist 4s >52 7 98* 96* 96*
At CL 4*8’64 5 101* 101* 101*
BAO 4s ’4B 4 97* 97* 97*
BAO cv 4* s *33... 42 101* 101* 1013
B AO 4*s’6o 19 101* 101* 101*
BAO Ist 65’48.... 18 107 107 107
B A O ref 5s ’95 4 104* 104* 104*
BA O 5s D 2000 7 104* 104* 104*
BAO 65’95 1 110* 110* 110*
BA O PAWV 4s’4l. 6 96* 96* 96*
Ban A Aroos 4s *sl 7 92* 92* 92*
Bos A Me 6s 1955. . . 25 101* 101* 101*
Bos A Me 5s ’67 5 102* 102* 102*
Rd AWhAv 5s ’43.. 6 10 10 10
Bklyn Kiev 6*B. .. 1 92* 92* 92*
Bklyn Man 6s ’6B. . .129 100* 100!, 100*
Bklyn Un El ss'6o. 6 104% 104* 104*
Bklyn Un Ist ss’so. 20 92 91* 92
Bush Ter con 55’55. 2 100% 100% 100%
Can Nat 4*5’54... 10 100 99* 100
Can Nat 4*8'67... 10 99* 99% 99*
Can Nat 4*s '68... 10 99* 99* 99*
Can Nat 4*8 ’76. . 26 106* 105% 105*
Can Nat 5s July’69. 6 106% 105* 105*
Can Nat 5s Oct’69.. 2 105* 105* 105*
Can Nor 4*5'35... 1 100* 100* 100*
Can Nor 6*B db’46. 8 118% 118 118
Can Pacific db 45... 15 90* 90* 90*
Can Pacific 4*8'60 79 99* 99 99
Can Pacific 5s '54... 9 103% 103% 103%
Cent of Ga 5s C ’59. 11 103 102* 103
Cent of Ga s*s '59. 5 105 105 105
Cent Pacific 45’49.. 4 97 97 97
Cent Pacific 5s 60.. 2 105* 105 105
On Ry NJ gn 5 s'B7 6 113* 113* 113*
Ches Corp 5a'47 17 100* 100* 100*
Ch AO gn 4*s ’92.. 50 103* 103* 103*
Ch A 0 4*B A'93.. 2 101 101 101
Ch A O 4*B B 96.. 4 101% 101 101
Ches A Ohio con ss. 2 104* 104* 104*
Chi A Alt 3s 11 74* 73* 74*
CB A Q gen 4s ’61.. 9 97% 97* 97*
C B A Q 4*s ’77 2 102% 102% 102%
Ch A East ill ss'6l. 9 71* 72* 70*
Ch Gr West 4s ’69.. 91 74* 73* 74*
Ch In ALrf 55’47 .. 14 103* 102 103*
Ch MASt P4s 89.. 1 87 87 87
Ch MAStP 4%s 'B9. 42 100 99% 99%
Ch MStPA Pss ’75 95 88* 87* 87*
Ch MA St Padj 6s. 114 54 53 53*
Ch ANW 4*s 2037. 13 100% 100 100%
Ch ANW con 4%5. . 6 101 100* 100*
Ch ANW 6*s '36. . 1 110% 110% 110%
Ch Rwys 5s '27 4 80 80 80
Ch RIAP gn 4s ’BB 2 95 95 95
Ch RIAP rs 4s '34. 24 99* 99* 99*
Ch R1 cv 4*s '6O. . 25 99% 99-% 99%
Ch RIAP4*sA.. 13 97% 97* 97%
Chi T H Inc 6s '6O 7 86 85 Bfi
CA W Ind cv 45'52. 15 93 93 93
CAW lnd s*s '62 5 106% 105* 105%
ChUn SUBsB’63. I 105% 105% 105%
CCCAStL 4*a «E> 65 101% 101 101
Clev Term 4*s'77. 1 102* 102* 102*
Clev Term 65’73... 7 107* 106% 107*
Clev Term 6*s'72. 5 110 110 110
Colo A Sou 4*s 35. 2 101* 101 101
Colo Sou 4*s'Bo. .. 6 98* 98* 98%*
Cuba RR 5s '52 1 68 68 68
Cuba RR rs 7*s '36 4 71 70* 70*
Cuba Nor s*a 42.. 4 51* 51* 51*
Del A Hud s*s'37. 1 105% 105% 105%
DARGr gn 45'36.. 1 97 97 97 ,
Den AR G W 6a'65. 9 96 95% 96 i
DRGAW st 5s '7B. 36 93 92* 93 '
Du SShAAt 5s '37. 2 77 76 77 I
, Erie Ist con 4s 10 87* 87% 87*
Erie conv 4s <8)... 4 86% 86u 86% |
Erie gen 4* 13 83% 83* 83% I
Erie 6s 1967 . H 94* 93% 94* I
Erie 6s 1975 15 94* 93* 94 I
Pla E Coast 55’74.. 7 46 45 46 '
Fonda JAG 4*s ’52. 18 26 25 # 26
Gr Tr sfdb 6s ’36.. 7 107 107 107
Gr Trunk 75'40.... 4 112 112 112
Gr Nor 4*s '76 (D) 1 100* 100* 100'i
Gr Nor 4*s ’77 (E) 11 99% £9% 99%
Gr Nor 55'73 1 106* Vl* 106*
Gr Nor gn 5* s ’62. . 1 111% 111% m%
Gr Nor gen 75’36... 20 111* lilt, m*
Gulf Mobile 55’50.. 2 100* 100* 100*
Hud A M ad.l 5s ’57. 64 84* 84 84*
Hud AMrf 5a *67.. 7 101 100% 101
111 Cent 45'62 29 93* 93* 93*!
11l Cent 4%5’66 4 101% 101* 101%
111 Cent 6*5'36.... 1 109 109 109 1
111 CCStLAN 4*s. . 3 99* 99 99Vi 1
111 CCStLAN 5s A. . 1 105* 105' . 105*1
Int Rap Tr 65’66 .. 65 71% 71% 71*
Int Rap Tr sta'66. . 91 74*4 71* 71% !
Int Rap Tr 65’32. .. 15 56* 56 56
Int Rap Tr 7s 32... 2 90* 90* 90*
Int AGr Nor 55’56. 6 95 94* 95
Int AGr Nor 65’52. 17 105 104* 105
Kan C FtSAM 4s ’36 4 97% 97* 97*
Kan City Sou 3s'so. 6 79* 79* 79*
Kan City Sou 6s'so. 11 103 103 103
Kan City Ter 4s '6O. 9 94 94 94
Lake Shore 4s '31.. 6 10014 loo* 100*
Leh Val cv 4s 2003. 7 92% 92% 92%
Leh Val 5s 2000. ... 1 lift* no«, HO%
Long lsl dbSs’37.. 7 100% 100% 100%
LANunl 4s ’4(1.... 1 98* 98% 98*
LAN 4*s 2003.... 4 102* 102* 102*
Manh Ry Ist 4s '9O. 17 54* 54 54*
Mil ERyA L6s '6l. 2 102* 102* 102*
M StPASSM con 4s. 14 90* 90 90
M StPASSM 6s'3B. 2 92* 92 92*
M StPASSM 6s gtd. 5 99 98 99
M StPASSM 6*s.. 3 101* 101* 101*
MK A T Ist 4s ’90.. 4 91 91 91
MK A T 4*s '76. v . 1 99* 99* 99*
MK A T adj 6s '67.. 3 99* 99* 99%
MKATprIn 5s A. 16 104* 104 104*
Mo Pac gen 4a ’75.. 17 81* 80% 81
Mo Pacific 5s A'6s. 1 102* 102 102
Mo Pacific 6s F '77. 27 102 101% 101*
Mo Pacific 5s G’7B. 1 102 102 102
Mo Pacific 5s H’Bo. 16 102 101% 102
Mob A O gen 4s'3B. 1 95% 95% 95%
Mont Tr Ist 5s '41.. 10 100* 100* 100*
NOT A M s*s '54. 7 103% 103* 103*
NYCgn 3*r *97... 3 84* 84* 84*
N Y Cen 4s ’9B 6 95* 95 95*
N Y Cent db 45'34.. 2 100* 100 100*
N Y Cent 4*B 2013. 24 102', 102 102
NYCre im 5s 2013. 3 108% 108% 108%
N Y Cent db 6s ’35. . 1 fft6% 106% 106%
NY CAStL 4* s ’7B .90 *9B 98 98
NY C A St Ls* sA . 10 107% 107% 107%
N Y C A St L 6s ’3l. 9 102% 102* 102*
NYCASt L6s ’32. 12 102* 102 102
NY NH A H 4a’56.. 1 86* 87* 86*
NY NHAH db 4s ’57 1 80% 80% 80%
NY NHAH 4*s ’67. 10 96* 95* 96*
NY NHAH cv db 6s. 6 124* 123% 124*
NY NH A H clt 6s. . 8 106 106 106 I
NT OAW Ist 4s ’92. 1 49 49 49
NT Ryu inc 65’65.. 9 6 4% 4»,
NT Rys 6s A 65 10 61 60 60
NT W&B 4 Vis '46. . 1 90% 90V* 90%
Norf South 55’41... 5 55 55 55
Nor Pacific 3s 2047. 6 69% 69% 69%
Nor Pacific 45’97... 10 95% 9414. 9414,
Nor Psc 4 >4s 2047. . 1 101 101 101
Nor Pac r1 6s 2047. 15 11314, 113*4. 113a*
OxdenALake Cb 4s. 10 81% 811% 81%
Ore Short Lss Rtd. 2 106% 106% 106%
Ore*-Wash 4s '61.. 17 95% 941% 941%
Penn sen 41%5’66.. 4 102% 102% 102%
Penn 4145'70 35 98% 98% 98%
Penn 4% » ’63 1 101% 101% 101%
Penna ts ’64 14 105 104% 104%
Penn 614 s ’36 8 110 109% 109%
Pa Oh * D 4145’77. 2 100% 100% 100%
Peer A E Ist 4s 40. 4 88% 88% 88%
PCCft St L5sA. . 1 109% 109% 109%
PAW V 4%sC’6o. 15 95% 96% 95%
Port Elec 65’47 l 105 105 105
Port Ry 65’42 :t 105% 105% 105%
Port Rv I.AP 6s 47. I 105% 105% 105%
Por R LftP 714* ’46 10 109 108% 109
Rio Or W clt 4s ’49. 1 89% 89% 89%
RIAr A L 414 s *34. 1 100% 100% 100%
St LAS Fin 4s A.. 4 92 92 92
StLASF 4%5’7». 68 94 98% 93%
St LUFprln 6s B. 3 104 104 104
llATifff-r—**** 2 101 101 101
PRICES OF TOBACCO
REACH LOW POINT
Growers Aroused Over In
ability to Obtain Better
Crop Values.
BT J. C. ROYLE.
Bitter controversy is raging between
the bright leaf tobacco growers of the
Southeast and the cigarette manufac
turers and tobacco buyers.
The sales of bright leaf tobacco held
in Georgia and North Carolina have
been most disappointing and the grow
ers who still have crops to dispose of
are anxious and aroused. 80 bitterly
do they resent the prices paid that
there is talk of an organised boycott
of manufactured tobacco in all forma,
but such a policy is frowned on by the
cooler heads, who point out that re
duction of consumption would hurt
them as well as the manufacturers and
buyers.
Price Controversy.
Each aide blames the other for price
conditions. The manufacturers cite
overproduction and a huge volume of
carry-over stocks. The growers in
many instances feel that they are buck
ing a gigantic combine. The fact re
mains that in Georgia and Eastern
North Carolina prices have ranged
from 7Vi to 12 cents a pound for bright
lugs and 12 to 18 for medium cutters,
which growers say is below cost of pro
duction.
Those farmers who are in a finan
cial position to do so are holding on to
their tobacco. Offerings are limited,
but so are bids. It is a question which
side will give way.
The growers point to the fact that
cigarette consumption is at the high
est point in history and the makers,
they say, have the prospect of big
profits. The drop in price levels from
1929 is almost 25 per cent for the
bright leaf, but growers say quality la
just as good as last year and that the
total yield will probably not be any
larger than in the 1929 season, In which
period profits to the grower were any
thing but satisfactory.
The manufacturers and buyers say
low prices are due to large stocks on
hand, over-production and prospects of
a bumper crop. The warehouse men,
not allied particularly with either group,
declare that the unsettled condition of
the foreign markets has been the thing
which has given buyers the opportunity
to secure tobacco at extremely low
prices. Some farmers agree that thers
has been over-production and both
sides recognize the disorganization of
the foreign markets, with warfare to
China and unsettled economic and
political conditions In Europe and
South America.
Retail Situation.
The cigarette manufacturers still are
in active competition and large sums
are being spent for promotion and ad
vertising There seems small chance
of a decrease in retail cigarette prices
in view ol conditions, although con
sumption. according to returns to the
Internal Revenue Department, shows a
continued and steady growth.
Retail tobacconists still are keeping
one eye firmly fixed on the operations
of the chain stores, which they say,
are pushing sales of cigarettes at low
prices to attract customers who may
be induced to buy other commoditk'
yielding a greater margin of profit.
(Copyright, 1930.)
■" " - 11 —~ t
Baltimore Markets
Special Dispatch to The Star.
BALTIMORE. Md., September 8
I Potatoes—Whit’’. 100 pounds. 75a2.00:
barm). 2 00.-2 7 sweet potatoes, bar-
I rell. 3.25?4 0C beans, hamper. 1.25a
| 2 25; beets. 100, 4.00: cabbage, basket,
I 75a1.00; errref , 100. 2.00a3.00: cauli
flower. <~rrt?, 1 50a2.50; celery, crate,
1.25? 1.77; covr. dozen. 20a40: cucum
i bers, har.rv. 73a 1.20; eggplants, ham
! per. 70a90; lima beans, bushel. 3.00 s
! 4.00: lettuce, crate. 40a75; poppers,
| hamper. sra6o; squash, hamp- : 50a75;
tomatoes, hamper. 50 a 1.23: packing
stock, bush-1. 50a 1.05: apples, bushel,
50a1.25; cantaloupes, hamper, 35al 00;
huckleberries, quart, 18a22; peaches,
bushel. 1.50a3.50; pears, bushel, 75a1.25;
retermelons, 100, 10.00a40.00.
Dairy Market.
Poultry, alive —Chickens. Springers,
pound, 20a28: leghorns, 15a23: hens,
20a26; Leghorns, 14al8; roosters, 14a
15: ducks, 13a20: guinea fowls, each, 65
a75; pigeons, pair, 15a20.
Eggs—Receipts. 990 cases: nearby
hennery white, firsts. 33a35; firsts, 25a
28: Southern firsts, 24a26; current re
ceipts, 23a25.
Butter—Good to fancy creamery,
pound, 36a42; ladles. 28a30: rolls, 27a
28: process, 33a35; store packed, 24a25.
Hay and Grain.
Wheat —No. 2 red Winter, export
92%; No. 2 Winter, garlicky, apot,
89%; September. 89%; October, 91%.
Rye—Nearby, 68a75.
Oats—White, No. 2, new, 49a49Vfe;
No. 3. 48a48'/ 2 .
Corn—No. 2 domestic, yellow, new,
1.15a1.16; cob corn, 5.25a5.50.
Hay—Receipts, none. General hay
market strengthening. Drought has
seriously curtailed nearby crops, chang
ing the entire situation. Sections here
tofore shipping are now asking for
offers of hay. Good clover mixed and
timothy new hay will bring from 22.00
to 28.00 per ton.
Wheat straw, No. 1, per ton, 9.00a
10.00; oat straw, No. 1, per ton, 9.00a
10.00.
Business Notes
By the Associated Press.
NEW YORK, September B.—Pall
merchandise for immediate delivery was
ordered heavilv by retailers during the
past week, with a greater number of
buyers appearing in the New York mar
ket than during the previous week. Resi
dent offices expect a heavier influx
during the present week and a conse
quent expansion of commitment*.
What is described as the largest single
order for the installation of steam su
perheating equipment has been received
by the Superheater Co. in connection
with steam generating equipment for
the Hudson Avenue Station of the
Brooklyn, N. Y.. Edison Co. The com
pete order calls for eight boilers to
supply nearlv four and a quarter million
pounds of steam per hour for 320,000
kilowatts of installed capacity.
Sales. High. Low Close.
San AAA P4s ’43.. 1 95 95 95
Scab AL rs 45’49. . 2 44% 44% 44%
Seab AL cv 65’45.. 13 50% 50 50%
Sou Pac col 4s ’49.. 2 94% 94% 94%
Sou Pac ref 4s ’55. . 36 96% 96 96
Sou Pac 4%s ’6B .. 100 99% 100
Sou P 4%s ’69 ww . . 19 100% 100% 100%
Sou PA Or 4%s ’77. 9 101% 101 101%
Sou Rwy gen 4s ’56. 31 90 90 90
Sou Rwy 55'94 1 110% 110% 110%
Sou Rwy 65’66 3 115% 115V* 115%
Sou Rwy 6%s ’56.. 9 121% 121% 121%
Tex A Pac 5s C '79.. 1 103% 103% 103%
Third Av adj 5s ’6O. 34 35% 34% 84%
On Psc Ist 4s ’47... 3 99% 99 99%
Union Pac 4* f 6B. .. 13 92% 92% 92%
Un Pac ref 4s 2006. 5 95% 96% 95%
Un Pac 4%5’67.... 4 101% 101 101%
Un P Ist rs 5s 2008. 3 111% 111% 111%
Vaßß4%5’62 9 101 101 101
\’a Rv A Pow 5s ’B4 1 102 192 102
V'a SWcv 6s ’SB. .. 2 88 88 88
WaUash 4% s '7B. . . 5 94% 94% 94%
Wabash 2d s 5 39... 1 101% 101% 101%
Wabash 5%5’75... 3 104% 104% 104%
West Md 4a'52 98 88% 87% 88%
West Md 5%5’77.. 44 102% 102% 102%
West Pac 6s ’46 46 99% 99 99%
West 8h Ist 4s 2361 10 93 93 93
Wti Can ga 4a ’34.* $ 74% 74% 74%
i-iiit’Mafi .a.-:- 11.