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CLEARINGS TOTAL WELL ABOVE 1334 Volume Represents Decline From Preceding Week, Report Shows. fix* th* Associated Pre** NEW YORK. May 30.--With 'he short, week a year ago. when Mp mortal day occurred, bank clearings now show a very large increase. The total for 'he 22 leading cities in the United States for the six days this year, which pnded with Wednesday, May 28, as reported by Dun <te Brad street, Inc., was $4,689,790,000 against $3,486,856,000 for the five days of last year, an increase of 34.5 per cent. This contrasted with a gain of 17 4 per cent in the previous week. At New York City clearings were $3,018, 4^0.000, that amount being higher by 32 5 oer cent than the amount re ported a. year ago, while the aggregate for centers outside of New York of *1 671.370.000 revealed a gain of 38.2 ppr rent in the same comparison. Allowing for the difference due to ibe short week last year, bank clear ings for May continue substantially higher than they were then. They are also well pbove those for two of 'he four preceding months this year. Compared with January last, the de cline in May was much below normal. Clearings for the final week of the month show a reduction from the preceding week of $394,412,000, while a year ago for the five days the total «as less ihan the amount reported for the preceding six days by $839 - 492.000. Increases the past week were notably large at practically all of the cities reporting. Figures at. leading centers showing increases as with thosp of a year ago are printed herewith, also daily bank iiearjngs for °ach month this year. iTotais in tho.is?nets.' Wees Mas Pci sect ■tit. I!«:;*> rha.isf Bo.wion .... 4 1K2.4 4!* Plu'p.tletpm*. r.2!'.uuu -:tss Buffalo. -U.uuu 32.4 Pttubttrih . 75.3 Cleveland ... . . 80.7 00 Cincinnati .. 44 BalMimre . a;:,i;rt -M.i Richmond . . 1 •» • '* Atlanta -.R7.K Vuv Orleans . 1*2.*271 -HO.o Chicago. W..ROO :ts.8 Dnroi. . .4 «»!♦ 4 1.7 5' i-ouis. 7 8.900 - 4 7*2 r.ouis nip .. *2"2.8*!7 "N Mloneapolis . 59.401 -54 ?» Kansas C’tr.. 7 7.914;..i Omaha . 4 4 o Dallaa - *V2.1ok - 99.4 S?n Fr«*n<*i.«co . Jivi.Tim -59.7 nortlaacl. Ore? ... *21.043 !. . NR.if To!3l .. *1,87 1,970 98.*2 Nr« York . Ml ... S4.689.79C’ if#. 5 Averts* d?ih Mav 10 (*?' a ..... $S94.0'29 10.4 ^nrO ........ R77,*29o •*•# March . . 940.7 85 15.’ FVbruarv .......... 888.17? ° 4 .ffjmjarv . 007.721** 18.0 "V»v Orlcaus (lollon p* th« Associated Press. NEW ORLEANS, May 30.—Irregu larity prevailed at. the start of trad ing today on the cotton market, with near positions off a couple of points while distant- months were 1 to 2 points higher. Dealings were restricted, reflecting I he holiday in other financial centers. At rhe first call July sold at ii.50, October at. 11.19, December at 11.26 and March at 11.31, but during The first half hour the early losses were canceled and futures were holding unchanged to 3 points higher. Trade buying and purchases by pro fessionals absorbed rhe light offerings In the market. Liverpool reported a quiet market, with trading .stilt running at. a low volume because of ihe French finan cial crisis. • STATE POLICE TAKE OATH ON SATURDAY Depaitment Becomes Indepen dent.. With Wider Powers. — on That Day. *-soei*»»ed Prp>* BALTIMORE, May 30.—Mai. J Ptirdon Wright, superintcndeni. of Rtare police, will administer the oaih of office, to members of that depart ment. Saturday. The department heronries indepen dent of the commissioner of rnoior 'chicles then and assumes State-wide police authority, except in incorporat ed municipalities with their own po lice forces, and in Montgomery, Charles. Calvert and Howard Coun ties. They may act in those localities when requested bv the mayor, police i chief or Governor, it was said, and when serving a warrant for an act committed elsewhere. Twenty-two members of the force, \ holding temporary appointments, will ] take no part, in the inducting cere mony. Along with hundreds of out siders, these 22 stood examination a week ago. Whether they are to he members of the new force depends on the marks they received. DOLLAR GOES HIGHER IN LONDON DEALINGS »hw Associated Press LONDON, May 30—The United Stater, dollar rlosed today at to the British pound as compared to the ] overnight New York rate of 4.92%, after opening at, 4 92'*. The exchanges were quiet today be cause many of the bourses were closed, it being Ascension day, and specula tive selling was temporarily halted. The French franc and other gold currencies were steadier, but the dis counts on the three months’ rate were all w'eak, indicating uncertainty re garding the future. The three months’ French franc discount rate widened 10 5\2 per cent, hut spot closed at. 74.70 francs to the pound ss compared to yesterday's close of 75.12. — — • DIVORCE SUIT FILED XJPife of Federal Employe Charges Cruelty. Mrs. Genevieve .1. Camp, wife of Carver I. Camp, 1430 Chapin street. , «, computer with the Coast and Geo- j detlc Survey, filed suit for divorce yes- i terday in Reno. Nev., according to an Associated Press dispatch. Cruelty was charged. The couple was married in Alex andria. September 2, 1924. -• -— - KROGER SALES CLIMB. NEW YORK. Mav 30 </P).— Sales of Kroger Grocery A; Baking Co. during the four weeks, ended May 18 amount ed to *18,690.842,compared wiih *17. 135.080 in the same period last year. Jto increase of 9.1 per cent. Leading Markets In IJ. S. Are Closed For Memorial Day By *h* Associated press. NEW YORK, May 30— All leading security and commodity markets In the United Stives, with the exception of the Savannah naval stores and the New Orleans Cotton Exchange, were closed today in observance of Memo rial day. European and Canadian financial and commodity exchanges were open as usual. TOILETRIES LEADERS FORM ASSOCIATION Herman Brooks of foty. Inc., Named President—Annual Sales Volume Huge. 3pr»'i&l Dispatch to fhe St»»r. NEW YORK, Ma.v 30.—The toilet ries industry has taken an important forward step with formation of the Toilet Goods Association, to be headed by Herman Brooks of Coty, Inc., and vdth a hoard of governors including many leaders in the industry. From a start of next to nothing in 1914, the industry has grown by leaps and bounds until, at the peak in 1929, it attained a volume estimated at S200.000.000 as the manufacturers’ cost. There are no reliable figures on retail volume, but some estimates range as high as one or two billion dollars annually. The industry is one of (he most highly competitive in rhe country. That is clearly shown by the adver tising space it uses. The prize is worthwhile for the new line that catches on with the public. Five or six years ago, a new odor was put on (he market by an old-established house and, within six months, it produced more than a. million dollars of new business. It is now well up among the ieaders, with a whole group of prod ucts marketed under rhe same generic trade name. Cod* rig hr . I JJJtft l LOWER NET REPORTED BY WESTERN MARYLAND Special Dispaicn 'o 1 he Star. BALTIMORE. May 30. -The West “in Maryland Railway Co. reports net railway operating income for April of $213,183, as compared with $271. 212 for April a year ago, and a net deficit of $44,028 after charges, as against a net profit for April a year ago of $10,680. The company’s total operating rev enues for the monih. amounted to $1,063,288, against $960,320 lor April last vear. but gross revenue did not increase proportionately with the restoration of wage reductions, in- ] creased depreciation of maintenance of equipment and the increased cost of fuel and other materials, which accounts for the deficit after charges, officials explained For the first font months of this year the road earned net income of $341,940 after all expenses, taxes and charges, against $451,449 a year ago. DAILY OIL PRODUCTION DOWN 45.000 BARRELS By rue Associates Pie s NEW YORK, May 30.—Daily av erage gross crude oil production in the United States decreased 45,000 barrets in the week ended May 25, totaling 2.605.300 barrels, the American Petro leum Institute’s weekly summary indi cates. Daily average production east of California decreased 17,200 barrels to 2.120.700 barrels. Refineries representing 89.5 per cent of estimated total capacity, operated at. 74.5 oer cent of their capacity, re ported daily average runs of crude oil 'o stills at 2.536.000 barrels. Daily average the pievious week for re fineries representing 89 5 per cent of total, operated at 69.9 per cent of rapacity, was 2.380.000 barrels. Imports totaled 960.000 barrels, rom oared w’irh 1.007.000 the previous w eek. MERGER IS CONSIDERED BY UNITED AIRCRAFT B«- Associaiert Press. NEW YORK. May 30.- A special stockholders’ meeting of the United ! Aircraft Co. has been called for | Mine 20 ro consider a proposal to j merge Pratt. Whitney, Chance ■ fought Corp., Hamiiion Stanaard Propeller Co United Airports of i Connecticut, and Sikorsky Aircraft Co. into one nppratlng unit owned by United Aircraft. • SANTA FE CHIEF HAILS CALIFORNIA CONDITIONS B» rh* Associated Press. NFW YORK. May 30.—"California continues the bright spot jp out ter- j ritoiy.” Samuel T, Bledsoe, president 1 of the Santa Pe Railroad, said today j in commenting on crop prospects in i the road’s territory. "The rest of i our section has been aided materially | by recent rains and probably 75 to 85 per rent of the territory has ex cellent prospects for good crops." • REFUNDING PLANNED BY FREDERICK COUNTY; Special Dispatch to The Star. BALTIMORE, Mav 30.—An issue of ! S322.700 of refunding honds will he offered for sale by Frederick County. Md.. on June 14. The bidders will name the rate of interest offered for the issue. The i bonds will be dated July 1, 1935. and ! will mature serially from July 1. 1939 ! to July 1, 1951. - • LONDON BANK REPORT. LONDON, May 30 UP).—The weekls statement of the Bank of England shows the following changes In pounds. Total reserve dec-easer’ 3.790 t'00. circulation in creased 2.707.000 bullion Increased 7,000, other securities decreased 711,000. public deposits increased 8.720.000. other de posits decreased J3.321.000. notes reserve decreased 3.197.000, government securities decreased 65,000 The proportion of the bank’s reserve to liability is 43.83 per cent, compered with ! 43.85 last week. Rate of discount. 3 per cent. — - - • MONTREAL SILVER. MONTREAL, Mar 30 /.4b.—Silver tutures one ted easier. Julv. ;3.l0b; -icotemhet I 73 75b; December, 74,65b. b—Bid. LOANS Apnlieation* solicited for lotno an down town. centrally located business properties at 5% D. F. McCONNAUGHEY Union Trust Enlldins, Nstionaj 0827. WE RECOMMEND the purchatt of Washington Industrial Loan Company Preferred 7% Shares Dividends are paid auarterly. This business Is locally owned, ably man aped and well seasoned. Tnouiries solicited. Foil information without obligation. upon reuuest. Southeasterly Investment Co. lift: a at. W.W. fhsa« Itfstriet *2Ti One Group Praises Bidding. Other Claims Market Is Unsettled. BV ,1. r>. ©ONI.KV. Special Dispatch 'o The Star. NEW YORK, May 30.—There are two sides to every question, and the latest bit. of Treasury financing brings that out. The Government is offer ing long-term bonds to the highest bidder, instead of at a stated figure, for the first .time—that is, on a direct obligation—since 1911, when *50,000 - 000 Panama Canal bonds, carrying a 3 per cent coupon, brought 102*.2. The 3 per cents now offered will be for double that amount, with the Treasury limiting iis acceptance of bids to 10 per cent in excess of the offering. The usual custom on a Treasury offering has been for a Treasury rep resentative to comt m New York, shortly before the terms are fixed, to visit around among the banks and •■get a line on the market." On the basis of such findings, the raie is fixed. That method has its advantages and its disadvantages. It meet? bank ing views on the market, b it, if there is anv sudden rhangi before the offer ing date, or if the consensus happens to misgauge things, there is likely to he undesirable unsetllement of the Government list of bonds. One View I in favorable. One view of the fixed-coupon, high est-bid method—wh*ch predominated in the early part of this week.—was unfavorable. Selling by those hold ing this view largely accounted for the loss of 11-32, recorded by the Treasury 3 per cents of 1946-43, which correspond to ihe bonds now offered, and are, as one might say of a cor poration bond. ' issued under the same mortgage." This viewpoint regarded ihe offer ing of <100.000.000 in Treasury 3 per cents ‘ for a bid” as lanlsmniint to an order io sell a like quantity • al ihe market." Those who look this position argued rhat such financing was not even as riefiniie as. a market order might sometimes be. for there was no way of judging how many more of ihe same bonds were going to come from the same source. They pointed out that it mav well be the purpose of the Treasury to finance rhe enormous work-relief needs bv the same means. But heavy demands for rh8t. purpose probablv will not make rhemspives felt in the capital market for some rime. I'ile l.ighi Volume. Those who look kindly to ihe latest move of ihe Treasury ccmrnen'ed in an entirely different tone In the first place, they noted that, although Gov ernments were, oft from four thirty seconds to eight thirty-seconds, at the close, the selling during the day was in light volume and unimportant. In ihe second place, the test offering Is idatively very small. The pressure of idle funds for investment, inean w'bile, is so great and so insistent that there can be no question that a Treasury r.ffertng bearing a 3 per cent coupon will be well received. They believe rhe Treasury will do better in the long nin if it sticks io the method of offering "for a bid" instead of trying to vary the coupon rate and the puce to match the market's temper to the last eighth. For rhe tendency in attempting to gauge .he market is alwavs to err on rhe side ot liberality, which may be quite expensive in laige borrowing operations. Moreover, there is rhe psychological effect io consider, and it is better on this seoie to have a higher coupon and command a pre mium than to slice the coupon and later see the bonds sell at a discount. •Cooyriphl 1935.) BIG GAIN REPORTED IN STRUCTURAL STEEL 8r 'he Associated Press. NEW YORK, May 30. Booking of structural steel during April totaled 72,983 10ns. an increase of 19 per cent over rhe average monthly book ings during the first quarter nf the year and 26 per cenr larger than the average bookings during the last half of 1934, according to reports to the American lrcn A: Steel Institute. Shipments amounted to 65.017 ions. Bn increase of 4 per cent over The average for rhe first quarter. IMPROVEMENT SHOWN BY TRANSIT REVENUES 8.» thu \bROCitied Pre.«s. •VEW \ORK, May 30. — Prom n df crease of 3 2 per cent in revenue pay ing passengers in March compared with the same month last year, to an increase of 0.9 per cent in April over that month a year ago, ihe surface cars, busses, elevaied and subway lines of the country are showing def inite signs of improvement, accord ing to the American Transit Asso ciation. LEAD OUTPUT DOWN new YORK, Mav 30 (/P).—World lead production in April iotaIcc. 129. 157 short tons, compared with 129. 521 in March end 113.853 in April. 1934, according to rhe. American Bu reau of Metal Statistics. United States production was 29.957 tons, compared with 30 i 18 in March. -- • - SPOT EGG MART TALKED. NEW YORK. Mav 30 (IP).—The New York Produce Exchange is considering the establishment of a spot market for eRgs, Samuel Knighton, president of the organization, announced today. EXCHANGE SEAT LOWER. NEW YORK. May 30 UP).—Ar rangements have been made for the sale of a membership on the New York Coffee and Sugar Exchange for *4,100, a decline of *400 for rhe last transaction BY RADIO SALES Gains of 15 to 70 Per Cent Recorded in Opening Months of Year. Spun*I Dl-Dutch lo Th« Star. NEW YORK, May 30.—New designs snd Improvements, augmented by en I lertaining programs are the leading I factors which have caused an exten sion of the gains made by the radio industry last veai, according to Dun & Bradstreet, Inc. "Perfection of ihe short-wave sets i and progress made in the development | of radios for motor cars forced some manufacturers to increase their out put from 75 to 300 per cent above that for ihe first quarter of 1934. S8les in nearly all parts of the coun try have expanded, the. increases run ning all the way from 15 to 70 per cent, in spite of the fact that demand generally during the opening months of the year usually is nearly one-third less than that experienced during the third and fourth quarters. "A particularly encouraging phase of this year's sales has been the higher profit margin obtained on household sets, because of the trend toward the larger and more expensive models. In terest in the single-wave length radio is waning, and many distributors ate stocking only the long and short-wave combination sets, and are increasing the proportion of their inventories represented by units ranging from $300 to $1,000. New all-time peaks for network advertising sales have been touched rhis year, and profits of some of the leading concerns for the first quarter were the largest since 1930, with the exception of the final quarter of 1934. While no early developments are ex pected, much interest is being taken in the experimental work on com mercial television. “Following increases of 50 >o 100 pei cent in sales of radios in 1934. when compared with the 1933 figures, the expansion of demand has been extended thus tar in the current year. Dollar sales in most pans of rhe country averaged 15 to 50 per cent larger man during the first four months of 1934. In fact, distribution has gained steadily since last Fall, with much of the increased volume attrib uted largely to the uiift to replace old and obsolete models with modern short-wave sets and to equip automo- j biles. The introduction of all-wave sets, designed for use with batteries in sections not electrified, has created considerable interest among termers and sales in rural districts during the first two months of this year nearly , equaled the total for the entire 13 months of 1934. “The medium-priced models con- ‘ srituie the bulk of the sal's, but, there has been a decided shift sinre last Summer lo rh' more elaborate console unit.” THEATER ATTENDANCE SLIGHTLY ABOVE 1934 3D*ri* Disrmctt To Th* Star. NEW YORK. May 30.-Despite rather sharp interim fluctuations caused by weather conditions, vary ing quality of feature releases and the Easter season, theater attendance has continued the broad upward trend initiated in the latter half of 1933, according to the Standard Statistics Co. of New York. It is estimated that the number of paid admissions averaged a, little more than 5 per cent higher in rhe first foui months of the current year than in the cor responding 1934 period. LOANS We Will Make First Trust Construction Loans on Residential Properties. Prompt Action on Application. Real Estate Mortgage and Guaranty Corporation »«»« K m. > .W. Phene >«(. Mp3 DIRECTORY COMMODITY BROKERS COTTON it Y Cor, on Axrn».ntf L»lfll»* St Co DI tVlbb • • • CRAIN Mrirom Chiraao Board oi 1't a da Har'iman * Keecn NA IMIO laldl** * Co DI ""bf> Weathelmer * Co NA 5500 • • • RUBBER—HIDES METALS—SILK Member* Commodlt» Exchange Ine Harrimar, A Keeeh NA 1600 Lildlaw A Co DI 2~’56 Wertheimer A To NA 5600 LOANS ON HOMES District of Columbia and nearby Montgomery County, Md. Monthly Paymenti at Lou) at *7.50 r« *1,000 No Commission* No Renewal* COLUMBIA BUILDING ASSOCIATION 716 11th St. N.W. (Member Federal Home l.oan Bank ftjalem and P. C. Bnllding and Loan Leaf* MORTGAGE L O A N S Over Forty Years of Experience First Mortgage Investments A GOOD INVESTMENT vou will find our FIRST MORTGAGES to be because: —t he interest is liberal. —the rate is fixed. —the security is sound. —available in amounts from *250 up. B. F. SAUL CO. REAL ESTATE National 2100 925 1 5th St. N.W. PROP ER T V M A NA G E MENT COLLEGE INN BONED CHICKEN Ideal for Salad or Sandwichei o. 44c McCORMICK’S PREPARED MUSTARD 2 *•»*• j*r* 17c PAY DAY SPECIALS! CAMPBELL’S BAKED BEANS 4 23c Growing Children Need the Vitamin* Found in IOWA STATE BRAND BUTTER Tb* f»n«* 93 «corf> Sweet Creem Butter obtainable .... • • CLAPP’S BABY FOOD A oorted 2 19c SUNSWEET PRUNES 2 "> »!**• 19c DOLE OR LIBBY’S PINEAPPLE JUICE . . . 2—-23c 3 small cans 23c POST TOASTIES.2 —■ 15c WIDMER’S GRAPE JUICE.~ 15c; 27c RITTER TOMATO CATSUP ... .2 ** 19c UN1CO ROLL BUTTER.» 33c ‘(JNEEDA BAKERS” FRUTANA 0«Jrc’r>«4» Fruit Bimcuit , , , , # 15c R1TZ.*■ - 23c SHREDDED WHEAT.2 «- 25c CLICQUOT CLUB GINGER ALE 2 pt. bottle* . . . 23c I 1 qt. bottle . . lJ + p»9lt KELLOGG’S WHEAT CRISP1ES, 2 — 25c LIBBY’S SLICED PINEAPPLE ... - 20c SCHINDLER’S PEANUT BUTTER. - »- 23c UNITED BRAND BUTTER.» 34c SUNSHINE GRAHAM CRACKERS.»• - 18c SURPRISE ASSORTMENT.- «> 29c RIPPLED WHEAT.*«• 12c — kraft;s : i 7,. CHEESE / velveta )nkr A / \ / a™ CIGARETTES 4.20 PHILLIPS DELICIOUS PORK AND BEANS-4 19c VEGETABLE SOUP.-• 6c CERTO Sur-jell 9Qr* Bottle . MvC SAUER’S PURE EXTRACTS 1J/2 oz. bottle . . 19c CAMPFIRE MARSHMALLOWS 1 lb. pkg 17C YELLOW BAG .■» 22c ORIENTA.- 33c WILKINS.'»■ 27c DEL MONTE... » 33c NORWOOD 27c v>c»aia Tackti m Gltw .*•» TENDER LEAF TEA 31/* <>*• pkg • .15c 7 oz. pkg. .. 29c SWEET OR SWEET MIXED PICKLES.2 * - i>" 19c QUEEN OLIVES. . ^ 31c UNICO MAYONNAISE pi 25c CUT RITE WAX PAPER_2 15c COMET RICE Cnnk* L>r|c, White. Fleke 2lb pl'817c CUDAHY’S PURITAN SMOKED HAMS whole ,b 25c VEGETABLES-FRUITS ^nevT^ SUGAR BEETS 3 bunches .17c . ^ Fancy ^ Stringless BEANS 3 lbs. ^ 19c . Large New POTATOES . . 10 »*>.. 23c HOME-GROWN SPINACH.2 - 11c NEW TEXAS ONIONS.2"- 13c HOME-GROWN RADISHES 10c FANCY LARGE BANANAS.*- 21c TALL GREEN ASPARAGUS.. - 25c THIN-SKIN GRAPEFRUIT.4 - 25T SWEET CALIF. ORANGES.-'-25c SUNKIST CAUF. LEMONS.-23c QUALITY MEATS | Leg-O-La mb Freth Killed FRYING CHICKENS r*»rv I.FGBOBN ,h 33c FANCY RIB ROAST , »b.31c. 33c SHOULDER LAMB ROAST.- 23c BREAST OF LAMB.- 12‘4c FRESH GROUND BEEF.- 25c SWIFT’S PREMIUM SLICED BACON.-41c A*JtMSSM0KED SAUSAGE, U. S. No. 1. - 33c LUNCHEON BOLOGNA.- 33c FANCY WHITE CRAB MEAT.» 49c TENDER SWEET GREEN PEAS «... 3 1 7C IVORY SOAP 2 l«r*e e*kes 19c I CAMAY Toilet So»p 3 14c CH1PSO. .»» »« 20c SATINA . . .2 9c g&» CLEANSER . 2 ■- 15c >1.15 SILK STOCKINOS !• -h 50t ‘ iitb 3 IVORT HAMS B*» T*/* —^ © 22c ky G•ihmm ^ Srft H#wfr7 U »iF IVORY flakes© 9c OCTAGON Laundry SOAP ►or a Snow-white Wash 3 bars I 4c OCTAGON TOILET SOAP ►'or Toilet or Both 2 cake* 9c f Sare All Octaton Coupons LA-FRANCE . . 3 Pfcf*. 25c I