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Evening star. [volume] (Washington, D.C.) 1854-1972, August 27, 1932, Image 11

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Speculative Rails Retrace
the Ground Lost in Pre
vious Session.
BY F. H. RICHARDSON.
Special Dispatch to The Star.
NEW YORK. August 27.—Bonds
Were strong today, matching a bull
movement In stocks, but the rise was
jnore conservative. Bond traders were
satisfied that the reactionary trend of
the past three days had been put be
hind. the bond market's long advance
thoroughly consolidated and the road
cleared fer a further advance.
The market opened with a firm tone.
Nervousness over railroad situation was
allayed for the moment by an advance
of 6,000 in the weekly car loadings,
by the granting of loans by the Re
construction Finance Corporation to the
Cctton Belt and the Southern Railway
and by arrangements made at the
Washington economic conference for a
big program of railroad equipment
building
Most speculative rails came back to
their highs of the recovery, with the
best gains in Chicago & Northwestern
43/is, Great Northern 7s, Illinois Cen
tral 43«s. Missouri-Pacific 5s, New York
Central 6s, Nickel Plate 6s and South
ern Railway 4s. High-grade rails were
firm around their high prices for the
year.
Interborough Rapid Ti ansit bonds
firmed" after an overnight digestion of !
what developments may follow the re
ceivership of the company had satis- j
fied spsculators that the bonds were I
undervalued alter the panicky selling
of Wednesday and Thursday.
Industrials continued steady. It has
been a significant phas? of the recent
reaction that industrials suçh as United
States Rubber 5s, Goodyear 5s. Mc
Kesson & Robbins 5'jS. Texas Co. 5s
end Junior utilities like International
Telephone 5s, Western Union 5s and
American & Foreign Power 5s paid
lees heed to the general downturn than
(Uq railroad bonds.
United States Government bonds
Were firm.
The foreign department had a strong
tone. In the general optimism no one
could see any particular menace to the
security markets in the German crisis,
the British cotton strike, the Chinese
boycott of Japanese goods or the fight
ing in South America.
Baltimore Markets
Special Dispatch to The Star.
BALTIMORE, Md„ August 27—White
potatoes, 100 pounds. 65a90; Maryland
and Virginia Cobblers, barrel. 1.25al.50;
eweet potatoes, bushel, 40a50; beans,
bushel. 35a60; beets, 100, 2.00a2.50;
cabbage, bushel. 30a40; carrots,v 100,
1.50a?.50; cauliflower, crate, 50al.25;
cucumbers, bushel, 65al.00: corn. do«?n,
6al0; eggplants, hamper, 20a25; lettuce,
crate, 1.50a3.00; onions, per 100 pounds,
85al 25; peas, bushel, l.lSal.65: peppers,
hamper, 20a25: squash, bushel, 40a50;
tomatoes, hamper, 25a40; canners' stock,
bushel. 40a45; apples, bushel. 30a75;
blackberries, crate, 2.00a250; can
taloupes, hamper, 25a40; peaches,
bushel. 60al.50; watermelons, 100,
3.00a?5.00.
Dairy Markets.
Chickens—Young, pound, 13al9: Leg
horns. 12al4; old hens, 12al6; Leghorns,
old. Ilal2; roosters. SalO; ducks. 10al4;
pigeons, pair. 15a20: guinea fowl, 30a50.
Eggs—Receipts, 1.828 cases; Current
receipts, 18; hennery whites. 23a24;
Western firsts, 18: nearby firsts, 18.
Butter—Good to fancy, creamery,
18a21Vz; ladles. 13al4; process, 15al6;
store packed, S^alO.
New York Cotton
ipecial Dispatch to The 6tar.
NEW YORK. August 27.—Under the
heaviest volume of business in several
years, prices on the cotton exchange
boiled upward today over half a cent
and closed with a net ^ain of 48 to 56
points.
A virtual stampede on the part of
mills to secure protection against fu
ture raw material requirements swept
the market bare of offerings and sent
prices skyrocketing to an extent rtot
witnessed since the Pall of 1927. The
market closed not far from the top,
with the scramble still under way. !
Spots were marked up 55 points to I
9.20.
Cotton range:
Open. High. Low. Close
October β 75 9 15 8.75 9.14-15
December 8 95 9 ?4 8 91 9 31-32
January 9 07 9 39 9 05 9 38
March 9 27 9 55 9 19 9 49-50
May 9 69 9 31 9 62-63
July 9 75 9.43 9.74
Markets at a Glance
NEW YORK, August 27 (IF).—Stocks
strong; utilities in active demand.
Bonds steady; rails improve. Curb
strong; utilities lead advance. Foreign
exchanges firm; Canadian dollar strong.
Cotton higher; strong textile market;
hipher cables; general buying. Sugar,
coffee closed.
CHICAGO STOCK MARKET
By the Associated Press.
CHICAGO, August 27.—Following is
the complete official list of transactions
in stocks on the Chicago Stock Ex
change today;
Bales STOCKS. High. Low. Clos».
200 Acme Lab 17 16'» 17
100 Allied Mots >» '«
400 Assoc Tei Util 33< 35· 3J,
10 Assoc Tel Ut A pr . 8'2 8'2 8'a
20 Assoc Tel Ut 7s pf.. 15 15 15
1100 Bendix Av 11*» 11', 11',
300 Binks Mfg 2'2 2'. 2'a
1500 Bora-Warner a1» 9'2 9*·
100 Bruce IE L.) .. 65» 6S« 6s,
100O Butler Brcs 3 2'« 2'«
40 Canal Const 2>, 25, 23,
60 Cent 111 Pub Ser pf.. 63', 62', 62',
300 Cent 4 So West 27« 2'· 2'»
100 Chi Invest 1% 1·β ι*»,
200 Chi No Western 13"1, 13', 13',
100 Chi Yell Cab 11 π π
1700 Cities Serv 5', 5 51,
50 Club Alum 1 1
120C Comwith Edis 94 85'2 92
1300 Cont Chi 23, 2*. 2a,
200 Cont Chi pf 19'2 19'2 19',
2909 Cord Corp 43t 4'» 4't
150 Crane Co « 6 6
250 Flee Household 6>, 6'« 6',
140 Gen Candy A 2'2 2'a 2'j
450 Gt Lakes Air -, 1.
900 Gt Lakes Dredge ... 12' 2 12
2900 Grigsbr-Grunow .... 2'§ 2>«
150 Hall Print 6'2 6H
50 Hormel A Co 13>a 13'a
800 Houd-Her Β 3'» 3
150 111 Cent R R 20 19',
70 111 Nor Ut pf 75 65
50 Ken Rad Τ & L 1». 1»,
4300 Llbby-McNelll S>. 2·.
40"· Lindsay Lgt 3 3
150 Lincoln Print 31·- Ô',
too Lynch Corp 111 10'2
10ft Manh Dearborn 25, 2',
40n Marshall Field 10', 10
TRff. Mid West Util 's 'i
3 0 Mid WUtSr. pf A .. 3 3
300Muncie Gear A .... 1U 1
150 Muncie Gear Β 'i '«
IOO Nat Soc Inv 1»« 1*.
50 Nat Sec Inv pi 32 32
100 Noblitt-Sparks 17 17
50 Nor Am L A Ρ 8 8
50 Perfect Circle 18' 2 li'/s
150 Public Ser $100 par 50 4«
800 Public Ber η ρ 50 45
«30 Quaker Oats 8i> 87'2
150 Reliance Mfg 10 10
■400 Sally Frocks ........ s, s·
200 Seab Util 1', H«
150 So Union Gas 1
100 Super Maid 2' j 24
1900 Swift A Co 13». 13' 4
3200 Swift Int l 24', 23
200 Thompson (J R> .... 13 12',
1500 Union Car A Car . .. 27'. 27J»
50 United Gas 3'« 3'.
8200 U S Rad A Tel 14s, 131»
550 Utah Radio 1·,
600 Util A Ind 2*» 2',
300 Util A Ind pf 7s, 7',
8400 Walïreen !8'2 18
20 Waukesha Mot 21 21
20 Wayne PumD 1 1
100 Wis Bank Shrs 3'2 3'2
100 Yates Mach l'j 1'2
250 Zenith Rad 2
BONDS
1000 Chic R»s 5s 1927 B . 8H 8H
000 Insull Util 6a 1940 .. 34 34
Stock sale· today—73 000 shares.
Bond Mies today—$4,000.
!
i
BONDS on n. y. stock exchange
RncItH by Private Wirt Dircet te The Star Oflwt
UNITED STATES.
(Sale* are In 11.000.)
Hlfh Low. Clos·.
Lib ί Η· 82-47 100 26 1·0 28 1·1 26
Lib 1st 4i<g 32-47 1·1 14 101 IS 101 14
Lib 4th 4Î4> SS-JS 10S 4 108 2 10S 4
U S S» 51-55 96 26 96 25 96 26
U S 3 4 a 46-49 97 SO 97 2* 97 28
US 3%s M 41-48. ΙβΟ 19 100 19 100 19
US3«4 J40-4I... 100 19 100 IS 100 19
U S 3 % 43-47 100 16 100 12 100 12
U S 3 ΐί 46-56 102 2 102 2 102 2
U S 4s 44-54 108 SO 10S SO 100 SO
US4«i 47-62 107 16 107 11 107 15
Bal».
Hlth.
SOW
88*4
S44
sm
25*4
484
79
74
4
91
1*5%
104%
101%
1014
105H
924
80
39%
15
414
45*»
454
45%
464
45-1
80
75
84
sm
9·4
784
38
714
784
784
864
Abltlbl PAP 6s'Si. 1
Ab Λ St 6 H s '43 . .. S
Alleghany Cp 5'44. 84
Alleghany 5s'49... 17
Alléchai)? 5s '50... 4S
Am F Ρ 6s 20S0 122
Am I GCh 5Hs'49. 1
Am Metal 54»'8*· 1'
Am Na Gas 6 >4β '4S 4
Am SmARef 5s '47. 1
Am TAT 4HS '39.. 5
Am TAT c tr 5s '46. 12
Am TAT deb 5s '60. 12
Am Τ AT deb 5s "65. 12
Am TAT 5 '/4s '43 . . 10
Am Wat Wks 5s'34 1
Am Wat Wks 6s '75 16
Am Wr Tar 6s '47.. 2
Antloqula 7s '45.. .. 2
Argentine 54e '62. 2
Argent Ss'61 May. 7
Argentine 6s '59 Ju 4
Argentine 6s'59 Oo 2
Argentine 6s A'57. 12
Argentine 6s Β '58. 2
Arm A Co 44s'39.. 2
Arm Del 6 4s'43 ... 46
Atchison adj 4s '95. 1
Atchison gn 4s'95.. 9
Atchison 4 Hs'48.. 14
AtlCLlst4s'52.. 3
Atl Gulf&WI 5s'59. 1
Australia 4'4 s'56.. 74
Australia 5s '55... 38
Australia 5s'57... 26
Austrian 7s '43 .... 1
Η AO 1st 4s '48..., 22 82H
Β A Ο 4 4 s '33 13 70
Β A Ο 4 H s '60 88 474
Β A Ο ref 5s'95.... 12 564
Β A Ο rf 5s D 2000..
BAOrf 6sC'95...
Β A Ο PAWV 4s '41
Ban A Aroos 4s'51.
Batav Pet 44s '42..
Belgium 6s '55
Belgium 64s '«9...
Belgium 7s '55
Belgium 7s '56....
Bell Tell Ta 5s C'60
Berlin Cy El 6s '55.
Berlin C El 64a-51.
Berlin C El 6V4a'69.
Ber mun ex 6*4* 50
BethStl pm 5s'36..
Beth Stl rf 5s'42...
Bolivia 7s '58
Bolivia 7s '69
Bordeaux 6s '34....
Bos A Me 4 \ s'61 J.
Bos A Me 5s '55....
Bos A Me 5s '67
Brazil 64s *26-'67.
Braii] 8s '41
Bremen 7s '35
Bklyn Man 6s A '68
Bklvn UnGasôs'45.
Bklyn 17 Gas 5s '67.
Budapest 6s '62. ...
Buenos A R 6s '61. 10 26*4
Β R A Pltts 4% s '57 1 61
Bush Ter con 5s'55
Calif Packing 5s'40 3
Canada 4s'60 5
Canada 4Hs'J6.... 16
Canada 6s'52 13
Can Nat Ry 44e*51 16
Can Nat Ry 44a'54 S
Can Nat Ry 4 4a'56
Can Nat Ry 4 4s'57
55
644
744
764
91H
96%
994
7 1044
S 104*4
1 105
4 32*4
5 46
17 42*4
88*4
5 93
1 92
6 7*4
7 7*4
6 105*4
5 72
10 78*4
5 75
S 19
7 20
1 46H
19 86*4
10 106*i
16 102
26*4
S
Can Nat 6s '69 July 16
1 60*4
72
84*4
98
99
87
87
86%
8714
92*4
Low.
SOU·
88*4
84
SI
25
45

71
4
91
105%
101%
10m
ion*
105*4
92*4
78%
39
15
4m
44%
45
45*4
46
45*4
79
7m
84
91*4
90%
784
38
70'4
77*4
78
86*4
8*
69*4
46
55*4
55
63
78%
76**
91%
96'4
99*4
104*4
104'4
105
32*4
454
424
33*4
*98
92
7
7
105
72
78
75
18
194
46%
854
106*»
101%
26 4
26
61
60*4
72
844
87%
98·-»
86%
87
86%
87%
92*4
Can Nor 4*s '35... 8 97*
Can Nor deb 7s'40. 5 JOSH
Can Pac db 4s 7 73*
Can Pac 6s '44 ctfa 6 8614
Cent Ga cn 5s '45 ... 1 48
Cent III EAG 5s '51 6 7414
Cent Pac 1st 4s'49, 6 82*
Cent Pac 5s'«0.... 10 72
Cen Ry NJ pn 5s'87 12 83*
Cert-tddb 5Hs'48. S 47
Ches Corp 5s ·4Γ... 27 68*
CAO gen 4'4s '92.. 4 91
CA04HsB'95... 85 86*
CB&Qrf 5s'71... 6 93
Chi ft Est 111 5s'51. 18 22*
Chi Grt West 4s 59. tl 62
Chi IndftL grn 5s'66 1 38*
Chi IndftT., gn 6s'66 -2 44*4
C M StP&P 5s '75., 10 «7
C M ft St PadJ 5s. . #5 13*
Chi&NW pn 3%s'87 1 56
ChiftNW 4*8 2037 4 41
ChiftNW 4*sC'37. 5 40*
Chi ft XW 4% β'49.
Chi ft NW 6 * s '3β.
Chi RTftPrf 4s'34.
Chi Rift Ρ 4*i'62
Chi R I 4*s'«0
CTH&SE 1st 5s '60.
CTHftSE in 5s'SO.
Chi Γη Sta 4 * β 'S3
Chi Un Sta 6Ηβ'63.
Cft W Ind 5*s '62.
Chile 6s '60
Chile 6s '61
Chile 6s '61 Jan....
Chile 6s '61 Sept...
Chile 6s '63
Chile 7s '42
Chile Cop db 5s'4'.
Chile Mte Bk 6s '61
Chi Mt* Bk 6 β '61
Cin Un Trm 5s 2020
CCCASt L 4*sE '77
Cologne 6 * s '50...
Colomb 6s '61 Jan..
Colon Oil 6s '38....
Col G&E 5s'52 May
Col GasftEl 5s '61..
Com Inves 5*8 '49.
Con G NY 4*s'51.
Con G NT 6*8 '45.
Con Pwr Jap 6*s..
Consum Pow 5s '52
Copenhap 5s '52...
Cuba 5 *s '45
Cuba R R 1st 5s'52
Cuba Nor 5 * s '42..
Del&Hud ref 4s '43 ,
Del ft Hud 5*s '37.
Denmark 4 *s'62.. 1
Denmark 5*s'55.. 4
Denmark 6s '42 ....
Denver Gas 5s '51. .
D A R Gr cn 4s '36..
Dft R G W 61 '55..
D ft R G W 5s '78...
Det Ed 4*s D '61..
Det Edison rf 5e'49
Deutsche Bk 6e '32.
Dodpe Bros 6* '40..
Dutch East I 6s '62
1
4
6
82 14
1 79* 7
86 80
8 48
10 85
R 53
6 47
1 96*
9 109*
1 84*
1* 12*
16 12
4 It*
1 12
R 12*
7 18*
8 58
10 11*4
2 14
4 98*
5 60*
5 85
1 88
2 47*
10 85*
1 85*
1 94*
11 95*
β 104*
8 41
1 103
1 72*
10 46
2 89
4 31*
1 82*
10 95
70*
81*
19 88*
1 88
12 64
19 28*
10 32
1 96*
R 102*
39 79*
22 88
1 97*
97*
102*
78*
86*
48
74*
82*
70*
92*
47
68
91
86*
91
21*
51*
38*
44
<614
12*
R6
40*
40
33
9*
49*
42*
34
R2*
44*
96*
109*
84*
12
11*
12*
It
12*
13*
55*
11*
14
98*
59
36
88*
47*
84*
86*
94*
94*
1·4*
41
103
72*
45*
39
31*
82*
96
70*
81*
87
88
63
27
30
96*
101*
78*
86*
97*
97*
102*
78*
86*
48
74*
82*
70*
92*
47
6814
91
86* I
93
22
51* Ι
88 V»
44* '
36*
13* !
56
41
40
33
79*1
49* [
43
34
62*|
47
96* Ι
109*
84*
12*
11*
12*
12
12*
13*
65*
11*
14
9814 I
60* I
34
38
47*
84*
85*
94*
94*
104*
41
103
72* I
46
39
31*1
Erie con 4s '96...
Erie 4s Β '63
Erie Ren 4s '?6...
Erie ref 5s '67....
Erie ref 5a '75....
Finland 6*s '5β...
Finland 7s 50
Fisk Rub 8s '41. .,.
Fia Ε Coast 5s '74..
French Gov 7s '49..
French Gv 7*8 '41.
Gelsenk'hen 6s'S4..
Gen Cable 5*8 '47,
Gen Motors 6s '37..
Gen Th Eq 6s '40..
Ger Cent Bk 6a Ί8 .
Ger Ten Bk 6s '60 J
Ger Ten Bk 6s '60 Ο
Ger Cen Bk 7s '50 . .
Ger Gen El 7s '45..
Ger Gov 5 *s '65. ..
German Hep 7s "49
lîoodHopeSftl 7s'45
Goodrich 6e '45. ...
Goodrich 6*s '47..
Goodyr Rub 5s'57..
Grand Trunk 6s '36
Grand Trunk 7s'40.
Ort Nor 4 Ha Ε '77..
Grt Nor 5*8 Β *52.
Grt Nor κη 7β '36.. 104
Greek 6s'68 2
Hudson Coal 5s '62. 11
Hud A M adj 68 '67 . 19
Hud A M rf 68 67.. 1
Humble Oil 6a'37., 10
8
1
14
1R
24
4
Ζ
17
1
10
20
78
1 75·* 76* 75*
R 43* 43* 48*
3 66 66 R6
J 5 38* 37* 87W
15 37* 36* 37*
6
1
18
1
5
2
1
10
10
7
37
10
34
13
3
16
6
6
12
1
9
7
6
S
3
6R
70
45*
7
113*
121* 121*
65 65
70 70
44 46*
7 7
111* 118*
47*
65
102*
R*
44*
41*
42
46*
48*
46
66*
37*
58
88*
81*
100*
102*
62*
77
86
21*
47*
63
102*
6*
44
41
40*
46*4
48*
45*
66*
37*
67
88*
81
100*
102*
62*
77
86
;i*
47* 46 47*
R7* 66* 67
84* 84* 84*
102* 102 102*
111 Bell Tell 5s "56..
Ill Cent Ct tr 4s '52.
Ill Cent ot tr 4e "5*.
Ill Cent rf 4s '55...
Ill Cent 4*·'66...
Ill Cent 6*8 '36. ..
Ill CCStLAN 4*8.
Ill CCStLAN 5eA..
Ill Steel db 4H» «#■
Inland St 4Η·Α'71
IntRap Trrf 5s'6«
Int Rap Tr '66 eta..
104*
59
52*
67
49*
79
61
68*
88*
86*
48
48
1·4*
69
62*
66*

78
60*
62
98*
86
47
46*
Sale·. Hlth. Low. Clese.
Int Rap Tr 6· *88.. 29 244 2S 244
Int Rap Tr 7s 'SÎ.. 29 66 684 6S
Int A Ot Nor 6s'52. 6 S9 88 89
Int Hydro El 6a'44. 48 65 52 56
Int Match 5s '41... 2 9 9 9
Int Mateh'Ss '47... II » 9 9
Int Tap ref 5s A'47. 1 574 574 674
Int Pap Ss '55 2 10 29 SO
Int Tel&T 44s'39. 57 54 61 684
Int TAT '52.. 42 464 44 464
Int Τ ft Τ 5s '55.... 12 49 47 49
Italy 7s'51 12 904 904 904
Italy Pub 7·'52.... 2 744 744 74*4
Japanese 5H·'65.. 18 604 50 50
Japanese 6 4s'54.. 1 60S 604 60S
Kan C PAL 44s'61 8 974 97 974
Kan City Sou 5s'50. 1 69 69 69
Kan GAE 4 4s'80.. S 88 874 8714
Karstadt 6s'43 8 21 20'4 21
Kresge Found 6s'36 7 7714 774 7714
KreuB A Toll 5s'59. 65 19 18 181*
Laclede Gas 5s'34.. 1 90 90 90
Laclede 5 H s C'58.. 1 70 70 70
Lake Shore 34s'97 β ™
Leh Val en 4s 200J. 1 62 62 52
Leh Val en 5s 2003. 2 60 60 60
LI (Γ ft Myers 5 s '51. S 1044 104 104
Lit: ft Myers 7s'44. 2 11814 11814 11814
Loexr's 6s *41 1 89 89 89
Lorillard 5s'51.... 8 101 10014 101
Lorlllard 7s'44 1 111 111 111
La ft Ark 5s'69 18 434 424 424
LAN44sC 2003.. 1 64 64 64
McKesft R5Hs'50 26 50 49 49
Manhat Ry cn 4s'99 20 80 284 80
Market St 7s A'40.. 8 78 774 774
Mid vale Stl 5s '86.. 1 944 9414 9414
Milan 6%s'52 2 72 72 72
Mil Ε RyftL 5s '61. 10 87 87 87
MSPASSM en 4s '38 18 49 48 49
MSPASSM en 5s '38 7 42 42 42
Μ Κ A Tadj 5s'67. 18 46 46 46
Mo Pae cn 4s *75. .. 18 284 27 2814
Mo Pac rf 5s A '65. 2 44'4 4414 44V
Mo Pae 5s F'77 36 39'4 39 39
Mo Pac 5s G'78 1 404 404 40H
Mo Pac 5s II'80... 12 40 39 40
Mo Pac 5s Τ '81 17 40 89 394
Mo Pae 5Uj A *4!».. 44 29 27 27
Mont Γη-r 5s A'62. 2 704 70 70
Montevideo 7s'52.. 15 1814 17 1714
MorftCo 1st 4'4s'39 8 75* 75 754
Nassau Elee 4**51. 1 50 50 60
Nat Dairy 514 a'48.. 6 9214 9214 9214
Nat Steel 5s'B6. ... 10 81 80*4 80*4
Ν Knc T 1st 5s'52.. 4 105 10444 104*4
NOTAM5sB'54. 4 40«4 S8<4 40*»
NOTftM5'4s'54. 9 424 41 4214
NY C S 14 s '97 2 774 774 774
Ν Τ Cent db 4s '34.. 86 844 8414 84·»
Ν Τ Cent 4s'98 5 774 7714 7714
Ν Τ C rf 414 s 2018. 14 6714 57 67
Ν Τ Crf 4',4s 2013* 34 67 56 66
Ν Τ C rf 5s 2013... 2 63 6214 624
Ν Y Cent db «s '35. 11 77*4 77 77*,
NTCftStL 1st 4s'37. 1 80 80 80
NTCftStL 4 H s '78. 29 84 31*4 38H
NYCASf L5 >4 s A'74. 4 3714 37 874
NTCftStL 1st 6s'82127 60 674 68'4
Ν Y Edison 5s B'44 2 IO6V4 1044 10514
NTNB&H4s '55.. 10 654, 65'» 65'»
NY NHftH 4'4 s '67 3 70 70 70
NY NHftH elt 6s'40 2 874 87'4 8714
NT NHftH 6s'48.. 6 88 88 88
NY OftW fn 4s'55. 3 46 46 46
NY Rys Inc 6s '65.. 5 2 2 2
Ν Y Tel cn 44* '89 Ζ 1014 1014 1014
NY WftB 4 4s'46.. 11 554 65 55
Nord 64s'50 10 1054 105*4 105S
Norf fiouref 5s'61. 1 10 10 10
Norf&Wn dlv 4s'44 1 93*4 98*» 93*»
North Am Co 5s *61. 2 864 864 86'i
Nor Am Ed 5s A'57 8 89 89 89
Nor Am Ed 5«C'«9. 84 8614 86 86
Nor Am Ε 5 4»'63.. 4 90 884 90
Ν Ger Lloyd 6s'47. 7 864 864 364
Nor Pae *n 3s 2047. 11 62*4 624 62*»
Nor Pae 4s "97 8 844 844 84'4
Nor Pae r I 6s 2047. 6 87 86 864
Nor St Pw 5s A *41. 4 100 100 100
Norway 6s'48 10 854 854 854
Orec-Wash 4» '61..
Orient Pev 54· '58.
Orient Dev 6s '58 ...
Pae GftE 5s *42....
Pan Am Pet 6s '40.
10 81 81 81
1 454 454 454
1 48 48 48
1 1024 1024 1024
1 81 81 31
Paramount es »τ.. 11 «»■*
Param-Pub 54s 50 it 4*
Parte Or δ H s 'SS... 1 1024
Pathe Exch 7s '37.. Β IS
Penn cn 44''6n-· · 1 96vi
Penn grn 44s'6S... 1 83Μι
Penn44at>'70.... 19 68*4
Penn 4 % s'63.... .. 33 RS
Penn Bs '64........ 1 814
Penn «He '»* 14 1004
Pen n PAL· 4 H s '*1. 2 8R4
Pere Marg 44"'*0. β 664
Pere M 1st 5s'56... 1 65
Peru M'*0 9 84
Peru 6s '61 S 84
Phlla Co Ss '67 S *9
Phila Elec 4s'71... 1 924
P^lla A Read 6s '49. 6 684
Philippine R 4s'37. 10 234
Phillip Pet 54s '39 Π 764
Poland fis'40 1 M4
Poland 7s'47 10 B2
Poland 8s'50 3 684
Port Gn El 4% s'60 10 «2
Porto Alepre 8s'61. 1 134
Por R Am Τ 6s'42.. 3 41
Poa Tel Λ C 5s'53.. 10 41
Prussia 6a'52 7 324
Pub Sv G 44s '67.. 6 100H
Pub Sv G 4 H s '70.. 1 994
Pure Oil 54s'40... 11 134
Rem R 5HsA'47ww 87 70
Rhinelhe U 7s '46. ; β 364
Rhine West 6s'52.. 7 424
Rhine West 6s *5 J.. 10 424
Rhine W 6a '55.... 3
Rhine West 7s'50.. 4
Rich Oil Cal 6s'44. 4
Rio de Jan 64s'53. 2
R I Ar A L· 44s'34. 4
Rome 64s '52 7
Royal Dutch 4s'45. β
Rumania 7s '53.... 1
StLASF4s A'50... 62
St L· ft S F 44s "73. S9
St LASF 5s Β '50... 16
St L SW 1st 4s '89.. 1
StPAKCSL 4V4s'41. 4
St Ρ Un Dep 5s "72.. 1
Sao Pau 7» '40 4
Saxon7s'45 7
Serhs-Cr-Sl 7s'62..
Shell 17 Oil 5s'47... 20
Shell U Ο 8s '49ww. 10
Shinyetsu 6Hs'52. 4
Sine Oil *Hs Β '33. Β
Sine Oil 7s A '37. .. 4
Sine Cr Ο 54* '3».. 1»
Sine Ρ L· 5e '42 3
Shelly Oil 54* '39. 4
Solssons 6* '36 . ... ™
Sou Bell T&T 6s '41 ς
SW Bell Τ 6s A*54. S
Sou Pac rf 4s *55... 22
Sou Pac 4 H 8 *68.. · *
Sou Ρ 44s '69 ww, »
Sou Pac 4 H a ' 11... 23
Sou PAOr 44s A'7T 3
Sou Ry rn 4s A'56.. 9
Sou Ry 5s'94 «
Sou Ry cn 6s'56... 11
Sou Ry 612 s '56.... 9
Sou Ry MAO 4s'S3. 1
St Oil Ν J 5s '46. .. 11
St Oil Ν Y 4V4s '51. 17
Sweden 5 4s '54... 8
Taiwan Ε Ρ 54s'71 6
Tenn El Ρ 6s A'47. 1
Tex Corp cv 6s'44.. 1
Tex A Pac 5s Β '77.· 1
Third Αν rf 4s'60.. ~
Third Ar adj 5s'60 7
Tob Ρ NJ 6%e 2022 25
Toklo El Lt 6s *58 . · 1*
UEAP 1st 54» A's4
Un Pac rf 4s 200»..
mit Drug 5s '53 . ..
Utd Kine 5H» "37. ·
Π S Rubber 5s '47 . .
Un St W 6 4s A'Sl.
Utah Ρ A l;5s '44. .
Util Ρ* 5s '59 ww.
Util Pow 5*4» '4T · ·
Vanadium St 5a'41.
Va ElAPwr 5 4 s '42
Va Ry A Pw 5s '34.
Va Ry 1st 58 A '62..
Wabash
Wabash 5 H8 '76 . ..*
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Warn Quln 6s '39. .
Warner Sug 7s Ml.
Warren Bros 6s'41.
Warsaw 7 a '53
West Sh 1st 48 2361
West El db 6s '44..
West Pac 5s A'46 . .
West Union 5s '61.
West Union 5s '60.
West Un 6Hs "36..
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5 84 824 84
11 424 404 42
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Yfttn SAT 6* B'70. 2 724 72k 72)1
STOCKS POINT WAY
TO BUSINESS GAIN
Economists Declare Market
Gives Evidence of Improve
ment in Trade.
BY CHAS. P. SHAEFFER.
Assocnted Press Business Wrlttr.
Economic students in Washington,
both governmental and private, ex
press no amazement that security prices
are rising in the face of the generally
low level of all business.
They point out that the poor pros
pects for considerable profits in tho
third quarter of this year does not op
erate against any advance in security
prices, and in this theory they are
joined by no less an authority than
Richard Whitney, president of the New
York Stock Exchange. He told the As
sociated Press that in his opinion the
stock market would not only reflect the
return of better times, but would an
ticipate them as soon as there is any
Indication that business is reviving.
The majority of leading trade in
dicators are down, but upturns are
being shown in some specialized lines
of industry, notably textiles. In the
leading barometers the production of
electricity is showing a 13 per cent drop
over last year; car loadings of revenue
freight are irregular, with the trend
being downward; production of auto
mobiles was oft 41 per cent in July, as
compared with the same month of last
year, and production of steel is at 14
per cent of capacity, compared with 34
per cent of capacity during the same
time last year. July exports were the
lowest since 1908, while imports during
the same month were at a level not
paralleled since 1904.
Despite these factors, there is an un
deniable better feeling with respect to
the business situation. Nor is It al'·
based on intangible factors.
Treasury reports indicate that bank
failures have practically ceased, while
the Reconstruction Finance Corpora
tion bulwarks virtually every worthy In
stitution, assuring it that financial dif
ficulties occasioned by frozen assets can
be met during the period of the pres
ent emergency. The home owner has
been heartened by expectations of help
from the home loan discount banks,
while the farmers have a source of aid
In the Federal Farm loan banks whose
capital was bolstered during the last
session of Congress by $125,000,000.
Government economists expect the
leading trade Indicators to shoot up
ward by leaps and bounds upon a no
ticeable Improvement in business.
U. S. FINANCING PLAN
IS EXPECTED SOON
Better Market Sentiment Should
Aid Government in Selling
New Bond Issue.
BY DR. MAX WINKLER.
Special Dispatch to The Star.
NEW YORK. August 27— Improve
ment in securities prices In general and
fixed Income-bearing issues in particu
lar is confidently expected to facilitate
the Government's plan to take care of
financial requirements for the third
quarter of the current year.
More than $1.000,000,000 is needed for
refinancing and other purposes and an
issue to that amount may be offered for
public subscription the middle of next
month. With sentiment gTeatly im
proved, the new bonds should have a
strong appeal to investors as well as in
stitutions, especially institutions which,
as a result of the sharp gain in so
called second-grade securities, will be
in a position to replace them with
United States Government obligations.
Individual investors may perhaps prefer
to confine their activities to somewhat
inferior issues and equities or common
stocks, now rapidly gaining favor in the
eyes of the public.
Of the proposed financing. $712,000.
000 will be employed for refunding an
existing note issue bearing interest at
only IV» per cent and $398,000,000 to
take care of maturing 3 per cent cer
tificates. Should the operation meet
with sucess the Government may wish
to convert the Liberty first 414 per cent
loan by a new Issue carrying a lower
coupon. At the present time it appears
that long-term financing on a slightly
better than 3 per cent basis could be
undertaken with a reasonable assurance
of success.
(CopyrUht. 1932. by North American New«
paper Alliance, In®.)
BALTIMORE IS SEEKING
BRANCH OF HOME BANK
8peeial Dispatch to The Star.
BALTIMORE. August 27.—Telegrams
urging that a branch bank of the Fed
eral Home Loan Bank be established in
Baltimore were sent to Franklin W.
Fort, chairman of the bank board, at
Washington, yesterday by Charles H.
Buck, president, Real Estate Board;
William S. Dubel, president. Maryland
League of Building Associations; G. H.
Pouder, vice president, Association of
Commerce; Charles C. Duke, Provident
Savings Bank; Robert S. Merrick. Equi
table Trust Co., and Morton Prestis,
First National Bank.
Mr. Buck's telegram read:
"At least 325,000,000 of the mort
gages in fourth district are secured by
homes in Maryland and the District of
Columbia. This is more than 60 per
cent of your estimate for entire dis
trict. The bank for this district located
in Baltimore obviously would be more
conveniently accessible to a large vol
ume of potential business men and a
larger number of home mortgage in
stitutions eligible for membership than
in any other city in the district."
Low-Priced Stocks.
NEW YORK. August 27 <Special).—
An analysis of the rise in the market
since the first week of July shows that
about 100 stocks selling under $2 a
share at that time have had a recovery
of 161 per cent, compared with a rise
of about 65 per cent for the general
market index. This list includes a con
siderable number that have advanced
200 and 300 per cent and even as high
as 500 per cent. The average of indus
trials today shows an increase over the
low of July of 80 per cent, while that
of rails is up 180 per cent. Compared
with its low of the end of May, the bond
average has advanced 40 per cent.
Canary Dealers Worried.
Canary dealers in England are per
turb"d by the progress of the radio
which, they assert, has caused theii
business to decline. Few people want
both a canary and a radio. Experience
has shown that the canary usually triei
to "sing down" its rival, the loud
speaker, and so prevents the proper en
joyment of radio music.
BALTIMORE STOCKS.
Special Dispatch to The Star.
BALTIMORE, August 27.—
Sales. STOCKS Last sale!
185 Arundel Corporation Î2
2 Atlantic Coast Line Conn 33
ICi Ρ Tel Balto pfd U4V<
72 Consolidated Gas com 65
334 Fidelity A: Deposit Co 45M
36 Finance Service pfd 4*.
100 Houston Oil pfd vtc 7
45 Maryland Casualty Co _571
175 Mt Ver Woodberiy Mills com ... 23
180 New Amsterdam Cas Co 19
25 Pa Water & Power SO
84 U S Fidelity A Guaranty 7V,
BONDS.
12,000 United Rwy & Elec 1st 4s 30
More than 13,000 apartment* «en
built to MUaa. IU1& last {ear,
r
CURB ISSUES CLOSE
AT HIGHER LEVELS
Investment Trusts and Public
Utilities Feature Week
End Trading.
BY JOHN A. CRONE.
Special Dispatch to The Star.
NEW YORK. August 27—The Curb
Exchange retained mrst of its initial
gains today, though trading slowed after
the start.
Electric Bond & Share after touching
43 sold down to 42. which represented a
gain of nearly 3 points. American Gas
& Electric retained its early advance,
as did Utilities Power & Light. Cities
Service continued to move narrowly,
though its subsidiary. Arkansas Natural
Gas. shoved through a new peak for
the year.
Aside from the good cheerful tenor of
the week end trade reviews, there was
not much in the way of new develop
ments. Power Corporation of Canada
declared the regular quarterly preferred
dividends. Midvale Co cut its quarterly
from $1 to 75 cents. Bullock Fund, Ltd.,
offered to exchange its shares for Inter
national Superpower Corporation based
on liquidating value as of September 10
next.
The early rise in wheat started an
upward move in Deere & Co. Some
slight firming of copper prices abroad
created a following in Newmont Mining,
which has been benefiting from its
South African holdings.
Higher hog quotations and the first
gain in packers' meat sales over the
preceding month since last October, as
shown in July .statistics, helped Swift J
& Co. and Swift International. Wal- I
green was another Chicago stock that I
did better. The company has just I
opened a store here in the financial '
district, which is said to be the fore
runner of a moderate national expan
sion program.
Pushing through new high gTound
were such diversified securities as At
las Corporation, American Gas &
Electric, Utilities Power & Light com
mon. United Gae preferred. Blue Ridge
common, Goldman Sachs. Shenandoah
common and preferred. Aluminum Co.
of America common. New Jersey Zinc,
Crocker-Wheeler Electrical, American
Cynamld B. Tubiae Chatillon, Irving
Air Chute and American Superpower.
BONDS ON THC CURB
MARKET.
DOMESTIC BONDS
'58
'68
'92
'48
'40
'57
'53
'45
'56
'56
'53
'48
Sales in
thousands.
3 Alabama Pw 4%s
2 Alabama Pow 5s
2 Alabama Pow 5s
2 Aluminum Co 5s
3 Aluminum Ltd 5s
11 Am Cmwlh Pw 6s
3 Amer El Pow 8s A
4 Amer G A Pow 5s
54 Amer Ρ Λ L 8s 3018
11 Amer Rad 4%s '47
21 Appalach Gas 8s 45
2 Appalae Gas 6s Β
2 Appalach Pow 5s
7 Arkans Ρ Ac L 5s
22 Asso Elec Ind 4'is
1 Asso G Ai Ε 4%s
35 Asso G Ai Ε 4%s 49 C
44 Asso Gas A El 5s '50
27 Asso Gas A El 5s '68
4 As GAE S'as '38 in cf
12 Asso G & Ε 5%s '77
2 Associât Rayon 5s '50
7 AssoT A Τ 5'as A '55
13 As Tel Util 5%s '44
8 Asso Tel Util 6s 33 .
10 Baldwin Lnco 5%s '33
7 Bel Tel Can 5s A '55
1 Bel Tel Can 5s Β 57
9 Birmlng'm El 4'»s '68
4 Carolina Ρ * L 5s '88
2 Caterpillar Tr 5s '35
11 Cent 111 PS 4%s F 67
1 Cent Π Ρ S 5s G 68
12 Cent Pow A Lt 5s '58
60 Cent Pub Ser 5%s '48
12 Cent Stat Eler 5s '48
3 Cent 8t Elec 5%s '54
47 Cent St PAL 5'as '53
2 Chl Dis El 4'is 70 A
4 Chl Dis Elec 5%g '35
3 Chl Ry cod 5s 2027
1 Cig St RI 5',is A '49
61 Oit les Service 5s '50.
1 Cities Service 5s '66.
2 Clt Serv Gas 5%s '42
2 Clt 8er Gas Ρ 8s
20 Clt Serv Pow 3%s
lOCleve Elec Illu 5s
4 Comwh Ed 4%s C
2 Comwh Ed 4 % D
21 Comwh Edis 4s F
1 Comnity PAL 5a
2 Con Gas Ut 6' as A
1 Consum Pow 4'as
SO Cont G A Ε 5s A
5 Contlnen Oil 5 Us
1 Crane Co 5s 40.
3 Cudahj Pkg 3%s
1 Det C Gas «s A
1 Det C Gas 5s Β '50
4 East Ut Inv 5s A '54
88 Elec Ρ i L Si A 2030
2 Empre Dist El 5s '52
4 Empire OAR 5%s 42
4 Fairbanks Mor 5s '42
1 Federal Wat 5%.ι '54
1 Firestone C M 5s 48.
3 Firestone Tire 5s '42.
22 Fisk Rubber 5%s '31.
20 Florida Ρ A L 5s '54.
16 Gatlneau Pow 5s '56.
21 Gen Wat Wk 6.s Β '44
1 Georgia Power 5s '67
6 Gillette S Raz 5s '40
4 Grand Trunk 6%s '36
1 Gulf Oil Pa 5s '37...
1 Gulf Oil Pa 5s '47....
4 Hood Rubber 5%s '36
3 Hous Gulf G 6s A *3
3 Houst G G 6%s 43 .
2 Hous LAP 4%s Ε '81
1 Hous L A Ρ 5s A '53.
1 Hygrade Fd 6s A '49.
2 111 Pow A Lt 6s A '53
25 111 Pow A Lt 5s C '56
2 Illln PAL 5%s Β 54
4 Indnap PAL 5s A '57.
2 Insull Utilit 6s Β 40
High Low Close.
87 74% 74% 74''
'43
'52
38 104
'56 94
92';
89'.
97\
65
4%
41
33
75
94%
9%
10%
91
88'4
58
36
34*4
39
37
35' a
41
39'»
42
33
50'a
84'a
96'.
96S
79
II
89%
75->4
80
68
17",
54 <i
54
48
SO
83'4
53

49%
49'a
61%
65%
54'a
ST
'81
•57
43
'58
'58
17
'37
«7.
94
86
63
27
97
•4
99',
78
88',
91%
86'a
32
61
581 a
59'a
67
53%
80
83%
17
73 ' 2
71 '/a
22
86
96%
99%
100',
97».
50'.
58%
45
89%
95'a
42
82%
73%
78
93
3%
93 _
89'4
97»,
63 1 a
4', 4
40
33
74
94
10%
90%
88%
57
36
34%
37
36%
35
40
39%
40
>2
49
83%
96%
96%
77*4
to
89%
75
80
68
16
S3
51%
47
78
82%
S3
78
49 %
49 %
61%
65%
54%
104
94
94
85%
61%
27
•7
63
99%
78
88 "4
91 %
86%
30%
60
58%
57 ' a
66
53%
80
82%
36%
72%
71 %
19
86
96'a
99%
100',
97%
50'4
58%
45
89'»
95%
42
82%
71%
78
93
3'
93'
89'
97% i
65
4'
40
33
74
94
7
10%
91
88%
57
36
34
37
37
35%
40
39%
42
33
49
84%
96%
96%
77%
80
89%
75%
80
68

54%
S3
47
80
13%
S3
78
4·*,
49%
61%
65',
54%
104
94
94
83%
61%
37
97
63
99%
78
88%
91%
86%
32
60%
58%
59%
67
53%
80
82%
37
72%
71 %
21
86
96%
99%
100%
97%
50%
58%
45
89%
95%
42
82%
73%
78
93
5 Int Pw Sec 6%s 54 Β 103», 103% 103%
1 Inter Pw Sec 7s Ε '57 7834
5 Intersta Power 5s '57 66
1 Intersta Power 6s '52 48%
4 Iowa-Neb LAP 5s '57 79
1 Iowa Pub Serv 5s '57 73%
5 Jer C PAL 4%s C '61 85%
2 Kentucky Ut 5s Η '61 76
10 Ktmberly Cla 3s A 43 84%
5 Koppers G A C 5s '47 81%
5 La Ρ A L 5s 57 89%
6 Manitoba Pw 5%s '51 62%
1 Massachu Gas 5s '55 87
1 Mid West U 5s '32 cv 9%
5 Milw G A Ε 4%s '67. 94
1 Miss Pow A: Lt 5s '57 74
5 Mis* River F1 xw '44 80%
8 M'ss River Pw 5s '51 99s,
40 Mont L HAP 5s A '51 93%
4 National Food 6s '44 32%
3 Nat Ρ A L 6s A 2026. 86%
6 Nat Ρ A L 5s Β 2030. 77%
24 Nat Ρ S 5s 78 25
1 National Tea 5s '35. 80%
2 Nevada Calif 5s '56 72
10 New Eng GAE 5s '48 63
20 New Eng Pw 5%s 54 67%
2 New Orleans 4%s '35 72s-,
1 Ν Υ Ρ A L 4%s '67.. 91%
4 Niag Falls Pow 6s '50 105%
1 No Con Ut 5' as A '48 39%
3 No Ohio PAL 5%s '51 96
2 Nor Stat Pow 4%s '61 90%
1 Ohio Pow 5s Β '52... 97"
78s,
65
48%
79
73%
85%
76
84%
81 "a
89%
62%
87
9%
94
74
80%
99
92%
32%
86%
77
24%
80%
71
63
63%
72s«
91%
105
3» "a
95'a
80%
97'
7 Pacific G A Ε 5s C '52 103% 103
6 Pacific Pw A L 5s '55 74
2 Pac Wes Oil 6%s '43 69
6 Penn Elec 4s '71 F . 73%
1 Peoples L A Ρ 5s '79 5%
15 Pieim't El 6%s A '60 59
1! Ρ S No 111 4%s F '81 79%
7 Pug S PAL 4'as '50 D 71
35 Roch Cn Pw 5s A '53 56
4 St L Gas A C 6s 47 24
14 Shaw WAP 4%s A '67 71%
1 Shaw WAP 4%s Β '68 71
16 Shaw WAP 4%s D '70 71
5 Shaw WAP 5s C 70. 79%
14 SE PAL 6s A 2025 xw 82
1 Smith Calif Ed 5a '52 101%
17 Sou Calif Edls 5s '54 101%
4 South Cal Gas 5s '37 87
3 South GAE >38 A '57 79%
5 Southw Nat Ο 6« '45 ""
lOSothw PAL 6e A 2022
6 Stand Gas A Ε 6s '35
2 Stand GAE cv 6s '35
2 Stand Gas A Ε 6s 'Si
4 Stand Gas A Ε 6s 66
1 Stand Inv 5%s 39
4 Standard PAL 6s 57
3 Sun Oil 5%s '39
3 Super of Illln 4%s 68
5 Super of Illln 4%s '70
12 Swift Co 5s '40 wl..
5 Swift Co 5s 44
2 Texas Elec 5s 60 wi
8 Texas Gas Ut 6s '45
1 Texas Ρ A L 5s '56 .
25 Tri Util 5e '79 cv....
6 Ulen A Co 6s '44
4 Union ΕΑΡ 5s Β
4 Union Gulf 5s '50.
1 Uni Am Inv 5s A
12 Uni Lt A Ry 5%«
1 Uni Lt A Ry 6s A
2 United Ρ A L 6s
1 U S Rub 6'ai 33..
5 U S Rub 6a '33..
S Van Camp Pk 6s
1 Va Pb Ser S%a A
1 Va Public Serv 6a
3 Va Pub Serv Sa Β
1 Waldorf-Astor 7s
'67
48
•52
'52
'75
'68
'46
'46
'50
'54
35
7?4
78%
68%
68%
70%
64
99%
74
74
93
102
86
23
90
1\
34
99
98
84
64%
64
65
M%
93%
26%
73
63
70%
9%
98
64%
57%
83%
8 Wash W A Pw 5s 60
1 West Penn 5s 2030 .
14 Wes Tex Ût 5s A '57
9 Wlscon PAL 5s Ε '56
FOREIGN BONDS.
1 Buen Air Pr 7%s '47 34%
2 Cent Bk Co 6s Β '51.
2 Chile Mtg Bk 6s 31
1 Et cole Mare 6%s '53
1 Eur El Cp 6% '65 xw
1 Farmers' Nat M 7s '63
10 Ger Cons Mun 6s '47
6 Gesfueral 6s 53 ww
9 Ham ESAU 5%s C '38 52s
3 Ital Sup Pow 6s A '63 3|l
3 Lima Ci Peru 6%a 'S· 8
2 Ruhr G Co 6%s A 'S3
5%s
6 Ruhr Houi 5'as
ww—With warrante,
xw—Without warrant·.
wJ-^Tsen luued.
38.
39'
11%
59
51
38%
33s.
47
52%
"S
38%
33%
73
69
73
5%
55
79
69
34
33
70%
71
70%
79
81%
101%
101
87
79%
34%
73%
76
76%
67%
66
70%
63
99",
73
74
93
102
86
23
90
1%
33
99
98
84
64
64
63
91%
93
36
73
63
70
8%
96
64%
55 V,
83%
34%
39%
11%
38
SI
36%
33%
47
ij%
m
781
66
48'
79
73'
85%
76
84%
81%
88%
62%
87
9%
84
74
80%
98·»
Si%
86 ,
77%
24%
80%
72
63
67%
72s,
81V.
103%
38%
85%
80%
97%
103
73
69
73%
5%
39
55
23%
70%
71
70%
79
81%
101%
101%
87
79%
34%
73%
77
76%
68%
68%
70 V.
64
99%
73
74
93
102
86
23
90
1%
34
99
98
84
64%
64
63
98%
92
36
75
63
70
9%
88
64%
36%
(3%
34%
39%
11%
39
31
36%
33%
47
52%
38%
36%
33%
Ν. Υ. CURB MARKET
B«nItc4 by Private Wire Direct to The SUr Office.
Stock and Bal*—
Dividend Rat·. Ad* 00 Hith.
Alrlnvcvpf 3 3k
Aluminum of Aroer 1000a64k
Alum Co Am pf <») 600s 65
Aluminum Ltd 1 21k
AlumnLtd cv pf (3) 2
Am Beverage 8
Am Capital pf.....
Am Capital Β
Am Cities Γ A L B.
Am Com with Γ» A
Am Comwlth Pw B.
Am Cyanamld B...
Am A For Pw war.
Am Founders
Am Gas A El <»)..
Am Invest Β
Am Invest Β war..
Am LtATr (2 Η )..
Am Maracalbo...
Am Superpower..
Am Superpwr let β.
Am UtAOB vtc...
Am Yvette
Arcturus Radio T..
Arkansas Nat Gas.
Arkansas Nt Gs A.
Asso G A Ε A b5% .
Asso Gas A Ε war.
Asso GAE pf (6)..
Asso Tel Utilities.
Atlas Utilities....
Atlas Util war
Atlas Util pf A (3).
RabcoxAWllco*(2)
Blue Ridge
Blue Ridge c pf al.
Braxll TLAP(bS%)
Burco Inc war
Butler Bros
Canadian Marconi.
Carrier Corp ι
Celanese pf (3 % )..
Celanese 1st pf.....
Celluloid Corp
Cent HudGAE(80c)
Cen Pub Serv Del..
Cent Pub S'vc A. ...
Cent States Elec...
Cent Sts El cv pf n.
Cities Service
Cities Service pf...
Claude Neon Inc...
Clev Elec Illu 1.S0..
Cleve Tractor -,
Colombia Synd
Colon Oil
CeiGAEcv pf <i).
Col Oil A Gas vtc...
Comwlth Edls (6)..
Comwlth A Sou war
Comunty Wat Svc..
Comstock Tunnel..
Consol A M cm pf..
Consol Copper
Cons Gas Bait 3.i0.
Cons Gas Util Λ....
Cont Chicago
Cord Corp
Cosden Oil
Cosden Oil cod....
Cosden Oil pf
Creole Petroleum..
Crocker Wheeler. ..
Crown Cork Intl A.
Curtiss Mfg A
Cusi Mexicana Mln
Darby Petroleum..
Deer· A Co
De Forest Hadio...
Derby Oil A Hefln..
Detroit Aircraft...
Duke Pow (5)
Eastn Sts Pwr (B).
East Util Inv (A)..
Eastn Util Inv (C).
Eisler Elec Corp...
El Bd A Share b6%
El Bd A Share pf ·.
Elec Pwr Asso < 60c)
Elec Pwr As(A)60c
Elec Ρ A Lt 2d pf A
S
88
3
2
118»
«9
3
196
4
2
IS
2
653
1
2
5
2
β
25
34
26
10s
6
209
28
1
25a
29
1
12
1
1
10
1
1
1
s
1
s
7
43
2
133
S
10
2
1
1
7
225a
S
7
29
1
1
β
Ν7
7
2
9
43
7
10
2
1
25
1
21
1
33
7*
8
lk
6k
Η
%
6V
8k
3
41**
4k
Η
24
i
7k
70
k
k
lk
314
2k
4
k
19*4
3'»
8k
2k
35ιι
38
4k
32
10k
Η
5

12
33%
ί-6
1U
14
lk
Ι**
3*4
15
Dk
31
1S
34
5
%
114
95
IS.
92 k
%
IV
Η
*
1
69
8
2%
4k
2k
2
6
3
lov;
2*ι
61*
H
8 7
62 14-4
k
2*
ft
25s 64
4 3k
1 m
1 4k
8 lk
752 4514
23 67
2 8««
20 8k
75s 31
7
8
1*
5
k
H
4'*
6k
lk
6k
70
*
H
m
2k
2·*
3k
k
38 38
4k 4k
32 32
10k 10k
V* *4
3 8
114
12
33'/*
25
lk
14
IV*
1S
3 k
13
5k
aok
lk
34
3
%
1*4
92
m
87
H
1*4
H
à
*
64
S
2%
4k
lk
ik
β
3
9*4
2*4
B*.
k
7
14k
H
2k
*
64
3k
ik
4k
lk
3974
64
8
7k
31
Β,ι·« ικ ϋ qp war. » om em
Elec Shareholding.. 17 7
El»c Share pf ww.. 1 5214 52*4
Eureka Pipe L (4). 100» 30 30
Europ El Ltd A 30c 9 2% 2%
Europ Elec deb rte. 1 Η %
Federated Metals.. 1 16'4 16*4
Florida Γ A L pf(T) 75s 68 68
Ford Motor Can A. 2 10<4 9'4
Ford Motor Can Β. 25» 20 20
Ford Motor Franc· 1 4** 4*i
Ford M Ltd 36 6% 4'*
Foremost Dairy... 6 V4 V*
Foundation For Sh. 2 4*4 4V4
General Alloys.... 1 1% 1%
General Aviation.. 11 3% 3
Gen G&Ecv pfB h6. 50» 15T4 16'4
Gen Pub Service pf 10» 43 43
Gen Theat Eq cv pf 3 % M
Gerrard (SA) 1 2 2
Gilbert (AC) 12 2
Glen Alden Coal... 2 20*4 20
Gold Seal El new... 5 Λ &
Goldman Sachs.... 68 4 3%
Grt A&PT n-v t«H 80» 148 145
Gt A & Ρ Tea pf (7) 20» 119% 1191,
Greenfield Τ & D... 1 114 1%
Gulf Oil of Pa 3 40 39'»
Hamilton Gas vte.. 1 % %
Hecla Mining 4 4 4
Hevden Ch (kSOc).. , 1 10 10
Hudson Bay Min.. 9 3 2'4
Humble Oil (2).... 4 52*4 52*1.
Hydro Elec Secur.. 10 7% 6%
HygradeFood 7 4*4 4
Hygrade Sylvan ti. 1 15 15
Imp Oil of Can 50c. 1 9*» 9%
Ind Terr 111 Oil A... 3 4V» 3%
Ind Terr 111 Oil B.. 3 4% 4
Insult Inv 21 ft *4
Insurance Sec 3 1% 1%
Intercom Pete 16 4 Η
Int Hy El 8 c pf 3 Η 25» 27* 27%
Int Petrol (1) 30 11 10T4
Int Superpwr (50c) 4 13% 12*»
Int Util Β 5 3<4 2'4
Interstate Equities 11 1
Interstate Eq cv pf. 1 16*4 16*4
Interst Hos (k65c). 1 7*4 7%
Irving-Air Chute... 7 4'4 4
Italian Superpw Α.. 4 2H 2%
Kolster-Br Am sh.. 1 1*4 IV*
Lakey Fdy & Mch.. 11 1
Lehigh C&N 80c.. 2 18*4 It
Llbby McNeill & L. 4 3 2%
Lone Star G b64c.. 8 8*4 8
Long Island Lt 60c. 1 18% 18H
Magdalena Syn.... 12 V» *4
Mercantile Strs ( 1) 2 13 12*4
Met Edison pf (6).. 25» 75 75
Midland Steel Prd 2 16 6*4 6%
Midi West Utilities 78 ?4 H
MldWUcvpfnxw 13 S
Mo Kans Pipe L... 3 % ft
Mock Judson Voe.. 13 3
Moh Hud Ρ 1st pf 7 25» 90 f 90
Mountain Prod SOc. 2 4V4 4*4
Nat American..... 8 1 Té
Nat Aviation . 6 5 4*4
Nat Fuel Gas (1).., 2 18'4 13%
Nat Investors 6 2'4 2%
N»« Transit (80c).. 1 8*4 8*4
Newberry J J 1.10.. 2 15V* 15
New Eng Pw pf (6) 30» 54% 54%
New Jersey Zinc 2. 6 33% 32%
NYShipbuild 12 3'4 3%
Ν Y Steam (2.60).. 3 52 49'j
Newmont Mining.. J2 19** 18%
Niag Hud Pwr 1.20. 40 20 19
Niag Hud (A) war· 2 1% 1%
Niag Hud wr Β war 14 4
Niag Hud Pw C wr. 2 # *4
NiagSh Md BM>%. 7 11% 11
Niles-Bement-Pond 1 7% 7%
Nitrate Chile Β 1 Η Η
North Sta Pw A (S) 1 72 72
Ohio Copper 19 A ft 4
Ollatocks Ltd 2 4% 4% 4*<
Outboard Motor A. 1 2% 2% 2^
PacG&E lstpf ltt 4 241* 24*4 24V,
Pacific WestOll... 1 6% 6** 6V»
Pan Am Airways.. 4 24 28% 24
Market Averages
By the Associated Pre·».
STOCKS.
SO 20
Indus. Rail:
Today 66.0
Previous day .. 65 1
Week (go S6.7
Month ago .... 45 0
Year ago 106.6
Three year· aro.346 6 162.7
Tire years ago. 135 4 121.5
High, 1932 68 8 39.8
Low. 1932.....·. 35.1 13.2
High, 1931 140 2 106.2
«0 0 "
RSi'l
34 9
30.2
1» 0
64.3
Low. 1931
High. 1930i...'.;203 4 141 6
LOW. 1930 112 9 86.4
30 SO
Util. Total
105 0 68 0
100 3 66 6
91.5 60.1
68 1 45.1
162.3 110.0
325.4 246 6
119.2 126.1
llt.O 71.3
51.8 35 0
203 9 144 3
92.8 61.3
281 3 205 8
146 5 114.7
BONDS.
20 >0 30 60
Indus. Ralls Util. Total
69 5 73.3 85 3 76.0
73.2
73 4
58.1
92 4
30.8
69 4
67.3
60 1
83.9
85 1
84 5
77.1
99.7
75 9
75.0
65 1
91.7
Today
Previous day
Week ago ..
Month ago .
Year ago ...
Two years ago. 94 2 108.7 100 9 101.3
Three years ago 92 5 101.3 96 6 96.8
High. 1932 71.3 78.0 86.3 '71.1
1132 53.2 47.4 70 9 57.5
1931 >0 4 105 7 101.5 98.7
1(31 «3 3 63 3 «0 3 «8.5
1930 94.9 lOl.t 101 4 101.·
... ... ... Μβ
Low
High.
Low.
High,
Low.
1930.
83 3 >7.3 96 6
(Copyright, 1 >32, Standard Statistics CD.)
—1 11 ■ ■■ 1
Stock and Sale—
Dividend Rate. Add 00. Hl«h- U>w. Close
Paramount Motors 6 614 6 6v4
Parker Rust Proof. 50» 28 28 28
Penroad Corp 18 3*4 3*4 8S
Penn Mex Fu(k50c) 1 7*4 7*4 7*4
Petrol Corp war... 1 h h 4
Phoenix Secur Corp 1 H H H
Phoenix Secur pf.. 1 12 12 12
Phlla Co new tl «0.. 8 18 18 18
Pioneer Gold (12c). 6 S*4 SH SH
Pilot Radio Tube A 4 2 2 2
Plymouth Oil k50c. 1 9*4 9·» 9H
Producers Royalty. 15 V4 V4 V4
Prudential Iny...2 β β β
Pub Util Hid war.. 4 *4 *4 V4 ,
Pub Util Hid χ w... 1 *4 % '4 j
Pub Util Hid c pf.. 1 4W 4*4 4H
Pyrene Mtg 1 2*4 2H
Reliance Int A 5 1*4 1*4 1H !
Republic Gas 9 *4 H *4 1
Reybarn 1 1H m lHj
Rossia Intl 2 1(4 1V4 1*4
Royal Typewriter.. 14 7*4 6*» 7V4 I
Rubberoid Co (1).. 1 21*4 21*4 21*4 j
4*4 I
21
St Regis Paper.... 48 5*4 4*4 5V«
St Rents Paper pf.. 270» 42 89*4 43
Salt Creek Consol.. 4 74 *4 74
Salt Creek Prod (1) 2 6H 6*4 5**
Schulte Real Estate 8 1 1 1*4 |
Seaboard Utilities. 8 1*4 1*4 1*4 !
Seton Leather 8 2*4 2
Sec Allied Cp (25c). 3 7 7 7
Secur Corp Gen.... 1 9*4 9*4 9*4
Sejral Lock A Hrd.. 5 1*4 1** 1*4
Selberlinjr Rubber. 1 3*>i 3W 31*
Selected Industries 4 2S 2*4 2H
Sel Ind all cfs(5%) 2 54 53*i 53'4
Select Ind pr(5%)n 8 52 52 82
Shenandoah Corp.. 7 4** 3*4
Shenandoah pf 2 21 20
Silica Gel ct 1111
Singer Mfg Co (8). 20· 120V4 120*4 120*j
Smith (AO) 350· 38*» 38** 38H
Sou Cal Ed pf Β 1 1 23*4 23*4 23%
South Nat Gas 9 '/* *4 '.4
Stand Invest cm pf. 50a 14'4 14'4 147«
Stand Oil Ind (1).. 5 24*4 24'» 24'»
Stand Oil Ky 1.20.. 9 14 13'» 13·,
Stand Oil Ohio 2<4. 50a 26H 25'j 25'»
Stand PubSvc A... 4 3*i. 3'j
Stuti Motor Car... 5 1914 IK 18'»
Swift Λ Co(l) 4 13> 18'4
Swift Iiitl(t4)...., 7 23'* 23*,
Tampa Elec 2.24.... 1 29 29 ζ»
Technicolor 34 4% 3V4 4*4
Tech Hughes (60c) 4 8S 8*4 1*4
Tobacco Prod Del.. 1 *4 *4 *4
Trans Lux D L Ρ S. 112 2
Trl-Cont Corp wr.. 4 214 2*4 2*4
Tubize Chat Corp.. 5 11T4 9 10T4
Tubiie Chatillon A. 1 17 17 17
Tung-Sol Lamp.... 14 4 4
ITtd Car Fast (40c) 5 3V4 2*4 3*4
UtdChem pt pf (2). 1 10 10 10
United C01» war... 3 5** 5*» 5**
United Founder»... 4fi 2% 2*4 2*n
United Gas 103 3% 3** 3*4
United Gas war.... 6 *4 %
United Gas pf (7).. 51 50 40*4 48
Unit LtiPwr (A).. 45 8*4 7*4 8*4
Unit Lt & Pwr pf.. 30 38 36S 36S
U S Elec Pwr ww.. 7 2*» 2 2*»
U S Finishing 1 144 1*4 J*»
United Stores vtc.. 3 *4 H *4
Unit Verde Ext 40c. 2 3*4 3*4 SH
Universal Pictures. 8 »"■ »t «·■
13'
23*.
29
%
1*4
18W
a
utan Hadio 1 1*4 is,"
Util p am 46 4 3W 4
Util Fwr&Lt pf (7) 50* 49"4 49'i 49 V
UtilPwr ftLt (B). 3 10H 10 10V,
Utility Equities... 24 3V4 2'i 3ii
Utility & Ind 4 3 21* 3
Van Camp Park. . #l 6 »4 V»
Van Camp Pak pf.. 6 H* 1
Walgreen Co 14 18V* 18
Waljjreen Co wr.... 2 3 8 a
Walker (Hiram). „ 1 6 H 6*»
Wenden Copper.... 3 V» I» v,
WestvacoCh pf (7) 1025«55 BO 55
Willow Cafeterias.. 1 1», 1% ι»,
Wool Ltd k25 l-5c.. 2 10M, 10"4 lOVa
Dividend rates m dollar» baaed on last
quarterly or semi-annual Dayment. "Ex
dividend tPartly extra IPlu» 4% In stock.
cas·' °r stock ·> P»»»bl# in
stock β Adjustment dividend, f Plus 5*
IS ÎÎSSw' l,T,lus A* .ln «toc*· h Plus 1%
}n stock, j Plus in stock, k Plus 10»
?Ju0ck 3* ln «toek. η Plus »% in
stock, ρ Paid last year—no rttular rat·.
Norfolk & Western.
ROANOfcE. Va.. August 37 OF)·—A
gain of net income for July of nearly
$12,000, ω compared with June, and
an Increase in operating revenues of
more than $12.000 ln the same period
was reported by the Norfolk & Western
Railroad.
Net income of the company for July,
according to the statement of revenues
released here this morning, amounted to
$1.097,264; operating revenues to $4,555,
231, and operating expenses to $2,735,
265. The figures are approximately
$1,025.000 lower than ln July, 1931, for
net income; $2,500,000 lower than the
July, 1931, revenues, and $1,600,000
lower than the July. 1931, expenses.
DIVIDENDS ANNOUNCED
NEW YORK, August 27 04»).—
Extra.
Pe- Pay- Hldrs. of
Company. Rate. riod. abie. record.
Amer Chicle Co 28c Q Ott. 1 Sep. 2
Reduced.
Jefferson Bk A Tr
Co (St Louis) «1 Q SeD. 1 Aug. 24
Omitted.
Chic Dis El Gener
*8 pf $1.50 Q Sep. 1
Colonial Holding Cp
7·% pf S3.50 S July 15
Inter-City Bak Ltd.. 12 8 Sep. 23
Regular.
Affilât Prod Co...13',3C M Oct. 1 Sep. 19
Aluminum Co Am pf.75c Ο Oct. 1 Sep. 15
Amer Chide Co 50c Q Oct. 1 Sep. 12
Amer News Co Inc 25c BM Sep. 15 Sep 5
Appal El Pw «7 pf.il.75 Q Oct. 1 Sep. β
De. $6 pf il.50 Q Oct. 1 Sep. β
Beech Creek RR. . 50e Q Oct. 1 Sep. 16
Bora-Warner pf. . .il.75 Oct. 1 Sep 15
Brlggs A Stratton C.25c Ο Sep. 30 Sep. 20
Consol Gas Co of
Ν Y 5% pf SI as Q Nov. 1 Sep. 30
Eastern Mai Iron Co 5c Q Sep. 10 Aug. 24
Fairfield Trust Co
' Fairfield, Conn) 37'ic Q Sep. 15 Sep. 12
Gillette Safety Raz
Co conv pf il.25 Q Nov. 1 Oct. 1
Haekensack Wat Co
pf A 433«c Q Sep. 30 Sep 18
Ind Genl Serv pf $150 Ο Oct. 1 Sep. 6
Indiana A Mich El
7% pf il.75 Q Oct. 1 Sep. 6
Do. 6r- pf il 50 Q Oct 1 Sep 6
Pittsfleld Coal Gas. $2 Sep. 20 Sep. 20
Rapid Electrotype 50c Q Sep. 15 Sep. I
Scranton El $8 pf $1.50 Q Oct. 1 Sep. 8
SJUth Ry-Mobile 4
Ohio Stk Tr Ctfs..$2 S Oct. 1 Sep. 15
Ward Baking Cp pf..$l Q Oct. 1 Sep. 17
Western Canada F1 ... ,,
Mills Co Ltd pf il 82'i Q Sep. IS Aug. 31
Wis PAL 71 pf .$1.75 Q Sep 15 Aug 31
I Τ* HOLDS
Industry May Lead Way to
Return of National
Prosperity.
Br the Auiocikted Pre».
TULSA, Okla, August 27.—The oU
industry, regarded by its leaders as
definitely emerging from th· economic
wilderness of the last three yean, finds
itself looked to as marshal of the busi
ness world's quest for new prosperity.
The indutry's progress in stabilizing
its operations is told in a statistical
story by Clarel B. Mapes, technologist
of the Midcontinent Oil and Gas Asso
ciation.
Analyzing operating statistics of the
petroleum industry for the first half of
thf year. Mapes reported today:
"Despite the severe economic situa
tions which continue to confront the
nation and its industries, the oil In
dustry has suffered only a small re
duction in the totsl volume of its con
sumer demand and still retains its
promising and relatively stable eco
nomic position."
Extent of Demand.
An analysis showing the demand for
all petroleums in the 12 months ended
June 30, totaled 1,000,827,000 barrels,
or a decline of only 4.64 per cent from
that in the preceding 12-month period,
led Mapes to observe:
"Thus, when it is realized that many
other industries have seen a loss of
10 to 50 per cent in their consumer
demand, it can readily be seen the
011 industry has been particularly for
tunate*'
In a recent message to the industry
Amos L. Beaty, president of the Amer
ican Petroleum Institute, cited figures
indicating the oil business was enjoy
ing a demand only 15 per cent less
than it had in 1929.
"The volume we have," Beaty said,
"is sufficient to produce fair profits—
even in these times—if operations are
conducted on a rational basis.
"What would the steel Industry give
to have a demand equal to 85 per cent
of that which it enjoyed in 1929? What
would the railroads of the country give
to have beck 85 per cent of their traffic
and revenues for 1929? How happy
would' be any other major industry of
the country with 85 per cent of 1929
volume?"
Mapes reported that rational operat
ing policies on the part of producers
materially assisted in correcting further
the burden.some inventory which the in
dustry has been carrying for several
years. He pointed out that a decree*
of 6.090.000 barrels in above-ground
stocks of petroleum was accomplished
during the first half of 1932 by curtail
ment of domestic production to 3,290.868
barrels dai.y, averaged over the period,
or 6 78 per cent below the production
for the same period of 1931.
Key to Future.
With the season of lessened gaso
line consumption approaching, Mapes
warned that motor fuel stock levels held
the key to the industry's future.
"Summarizing the statistics of the
industry for the past few months," he
stated, "there appears only one possible
serious and far-reaching difficulty. But
It Is the one which controls profit· and
can defeat or insure the economic sta
bility of the industry. Stocks of motor
fuel must be kept to the recommended
levels regardless of the demand which
arises.
"The demand has not decreased more
than expected, and conditions may be
said to be optimistic, but. regardless of
these facts, the level of motor fuel
stocks is the one single economic guide
for the entire petroleum Industry."
Bureau of Mines figures show stocka
of all motor fuels totaled 60,356,000
barrels on June 30, or 706,000 barrels
in excess of the level recommended by
the Economics Advisory Committee of
the Federal Oil Conservation Board.
Soldiers' Pack to Go.
Replacing the soldier's pack with a
rucksack is planned by the British war
office, which seeks to increase the in
fantryman's efficiency by making it
possible for him to move more easily
and quickly. The rucksack *111 be
carried on the back, but lower down. At
the same time the rather cumbersome
web equipment will be ismpllfled.
Have on band ««11 secured First
Deed ef Trtnt Notes that will yield
1% Interest.
Address BOX 169-B Star Office
The ( j ommercial
NationalBank
14th and G Streets
Complete Banking Service
First Mortgage Loan·
Lowest Rates of Interest and Commtaloc
Thomas J. Fisher & Company, Inc.
6%
Guaranty 1st
Mortgage Securities
" Well rhoien Investment·, se
cured bv direet flrst morUajes
on ineome-producinr properties. De
nominations as low as $100.
CONVENIENT DEFERRED PAYMENT»
Real Estate Mortgage and
Guaranty Corp.
161» Κ St. Nat 1403
1
SAFE
FIRST
MORTGAGES
IF YOU ARE A
CUSTODIAN OF FUNDS
IN TRUST
W
Over a Third
of a
Ceti'ury
Without a Loss
to an
Investor
you will find both a safe and profit
able investment for them in our
βγ2% FIRST MORTGAGES
The all-important thing is secur
ity—and these have the backing of
conservatively appraised improved
Washington real estate. And then,
the interest earned and paid reg
ularly throughout the term of the
mortgage will be 6l/2%—a liberal re
turn.
May be purchased in amount*
from $250 up.
B. F. SAUL CO.
National 2100 925 15th $t. N.W.

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