Altoona Mirror from Altoona, Pennsylvania on June 5, 1930 · Page 14
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Altoona Mirror from Altoona, Pennsylvania · Page 14

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Thursday, June 5, 1930
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FOR TODAY M(Y OFFERINGS SEND STOCKS DOWN ( Utrth-tftlked-of Improvement *' Vails to Materialize and Prices Decline — Carload- ings Continue Unfavorable. PROGRESS AND EXPANSION ARE NATURAL FOR UNITED STATES By OEOROK T. tCopyrlght, 1930, by Altoona Mirror.) TV ALL STREET, NEW YORK, Jun6 I.— Meeting heavy offerings, doubtless mostly for short account, stocks w«nk- «rred today in trading slightly heavier In volume than on Wednesday. The lower range of quotations during the forenoon session had the foundation of business news that was discouraging, in that there was no sign of the muc.h-taJked-of and much-hoped- for improvement. In addition there were a few unfavorable items. One of the largest tire manufacturers cut prices, Car loadings still made an un favorable comparison with those of the same period a year ago. On the Norfolk & Western the total for May was •7,061 cars against 109,945 in Ma;, , 1929. The only redeeming feature was the continued ease In money. Call funds renewed at 3 per cent and were in •upply, while leading dealers reduced rates on bankers' acceptances 1-8 of 1 - pet cent on all maturities. There was no change in the Bank of England rate but that had hardly been expected. Stocks of all grades were freely of- 'fe?ed during the first two hours. United States Steel, which had a brisk .rally on Wednesday, sold off to a new low on the present reaction. General Electric was depressed. The directors today declared the regular dividend, . whereas there had been a report that something might be done in the way of an extra. For a time the amusement stocks held out against the trend, but they weakened also when the selling became pronounced. One development that hurt the market was the early weakness in bank stocks, founded, it was said, 6n rumors of unfavorable dividend action which were subsequently officially denied. The fast-moving high-priced stocks, like J. I. Case and Worthington Pump, sustained the largest losses but stocks •which had been favored on the upside of late, Including Vanadium, sold off •asily also. Special weakness appeared in the coppers without definite reason. In London South African coppers had a sharp rally but that did not help this market. Whenever the red metal stocks are under pressure, the talk is of competition from the Rhodesian producers and that was Heard today. Anaconda was affected the most, breaking almost 5 points before noon, seemingly forecasting a drastic cut-in the disbursement to stockholders on June 26, the next dividend date. Oils, like the theatrical stocks, did well for a time, but the improvement was temporary. Houston Oil was . a favorite -and there was good demand , for the low-priced Transcontinental Oil. Coffee Prices. NEW YORK, June 5. — Coffee futures opened higher. July 7.95, up .10; September 7.70,, up .09; December 7.85, up .08; March 7,32, up .11. Rio futures were 25 rels lower to 25 higher while Santos were unchanged. Rio 7s on epot 9, Santos 4s Metals Kxchang;e. NEW YORK, June 5.— Tin; June 30.20^30.50; July 30.SO-.60; August 30.75, offered; September 30.90, offered; October 30.7531.05. In the. outside market copper for the domestic trade is 13, for export 13.30; lead £.50; rjnc 5.00. JUw~Sllk. NEW YORK, June 5.— Raw silk was fairly active and strong today. Trading was on a. moderate scale and prices were 5 to 6 cents higher, with operations of a local and commission house character. Prices later cased 1 cent from highs, but were steady and 4 to 6 cents net higher. Yokohama future* were 28 to 36 higher. Outside Saiyu at 11.00 was unchanged and Kobe futures wen 23 to 40 higher. By B C FORBES. (fall to register transactions of even It Is refreshing id encounter a man . 2 .«X>.°«> «* a - refs - We . ,f° <l ul< * 1 > r f . or ,: , ! get. The writer vividly recalls when who sees beyond the present busi- a "million-share-day" was front page ness clouds and who Is resolutely . news. Doubtless the current lack of planning for bigger developments than activity partly accounts for the posal- ever before. The rest of the country probably has only scant Idea of how rife pessimism in these days in the country's financial |[ p;;biic""servlce""and"aiiled'" companies, metropolis, especially in the Wall J providing New Jersey with its utility Street section. After a long series of I - irilsm now prevailing. Read these inspiring expressions by Thornas N. McCarter, president of 4,000,000 and 5,000,000 and 6,000,000 and up to 16,000,000 share-days on the New York Stock exchange, Wall Street houses fret and fume over days which New York Product. i YORK, June 5.—Flour dull and easy; spring patents, $5.80^56.20 per bar .rel. Pprk quiet; mesa, $32.00 per barrel. '-lArd dull; middle west spot, .1045®.1055 per pound. Tallow quiet; special to extra, 5%c@S%c per pound. Petroleum quiet; New York refined, 15c • per gallon; Pennsylvania crude, $1.95W?2.30 per barrel; turpentine, 47MicS'38HO per gallon. 1 Hide* (common) steady; Central America, ;Uc per pound Cucutaa. 14c per pound Or- .Inocoi, 13He per pound; Maracalbon, 12Vic •per pound. L Hidei (city packer) dull: native steers, 15c per pound; butt brands, 14He per pound; Colorados He per pound. ' Potatoes—New easier, old steady; south- erns, $1.50ifff5.75 per barrel; Maine, ja.OO'ic |5.00 per barrel. ' Sweet potatoes firm; Jersey, basket, 85c@ ,|3.50. Qreue steady; brown, SVic; yellow 5lie; White, 5%cii5T.c. Dressed poultry (cents per pound)—Steady; turkeys, 25c&43c; fowls, 14c&29c; chickens, 17c@<40c; ducks, Long Island, 19c. live poultry (cents per pound)—Quiet; Ceese, lie to He; ducks, 14c«j-23c; (owls, IBe (<f2&c; turkeys, 1&C&25C; roosters, IZefgUSc; 'broilers, 16cic45c. Cheese (cents per pound)—Steady; state whole milk, fancy to specials, 24c<a26c; Young America, 10cii25c. Butter (cents per pound)—Market easier; 'receipts 12,877; creamery extras, 33c; tpe- cial market, 33^cij3<e. • Eggs (cents per doz.)—Market quiet; receipts 30,188; nearby white fancy, 29cW 31V4c; state whites, 26c«j28c; fresh firsts, 22V4c®23^c; Pacific coasts, 27',ic'« 34c; nearby browns, 24!ic(u : 30'/vc. Pittsburgh Produce. PITTSBURGH, June 8. — Butter -Nearby tubs, 92 score, extras and standards, 33!-^c; •8 score, 32c; 88 score, 29 %c. Eggs—Nearby firsts, second band cases, S2V4c@23c; extra firsts, new cases, 23\ictt 24; nearby hennery whites, 24cf£/24%c. Live poultry—Hens, 18cSj25c; broilers. 25c ft'SSc; roosters, 15c; ducks, 16cfii2Dc; geese, 30c@12c; turkeys, 18cli20c; fresh killed bens, 33c&40c. Pittsburgh IJvntot-U. PITTSBURGH, June S.—Hogs, receipts 1,500; market uneven, steady to 25c lower. 150-210 Ibs., mostly $10.80; 220-210 ILs., *10.Soto»10.65; sows, $8.50l»J8.75. Cattle, receipts 25; market unchanged. Calves, receipts 200; market steady; good to cbolce vealers, »11.006 J12.00. Sheep, receipts 500; market steady on lambs; yearlings and sheep sharply lower; bulk lambs, Jll.uOt) $12.5U; yearlings, *6.00 fowls. 19c; springers, 30c; Leghorns, 14c; ducks, 13c; geeso, 12c; turkeys, 20c; roosters, 13l4cru 14c; broilers, 23c. Cheese—twins, 17c«il7lic; Young Americas, 18',-Jc. Potatoes—On track 113; arrivals 62; shlp- rnents 1,161; market, old stock firm; Wisconsin sacked round whites, $3.05; new stock slightly stronger; southern sacked Bliss Triumphs, $3.80(!i $4.25. Ohlcaito Livestock. CHICAGO, June 5.—Hogs, receipts 27,000, Including 7.000 direct; mostly steady; weighty butchers steady to strong; top, $10.50; .bulk 160-300 Ib. weights, $10.15@$10.45; choice 338 Ib. weights, $10.10; packing BOWK, $9.15 &J9.65. Butchers, medium to choice, 250350 Ins., $9.901l $10.40; 200-250 ihs., $10.00 (i $10.50; 160-200 Ins., $10.00ig>$1.50; 130160 Ibs., $9.90r<! $10.50; packing sown, $9.00 fi$9.75; pigs, medium to choice, 90-130 Dm., $~9.25Ci $10.25. ' . Cattle, receipts 7,500; calves, 3,000; general trade weak to 25c lower than Wednesday and 25c to 50c down for the woek to date; lower grades predominating; all she stock very dull showing as much decline for the week as steers; bulls and vealers steady. Slaughter classes, steers, good and choice, 1,300-1,500 Ibs., $12.00{fi$14.00; 1,100-1,'300 Ibs., $11.50(&.$13.GO; 950-1,100 Ibs., $11.25® $13.50; common and medium, 850 Ibs, up, $8.00@$12.00; fed yearlings, good and choice, 750-950 Ibs., $11.25<6>$13.00; heifers, good and choice, 850 Ibs. down, $10.00<5> $11.75; common and medium, $7.00@$10.2H; cows, good and cHolce, $7.60@$9.75; common and medium, $6.25@$7.75; low cutter and cutter, $1.50@$6.25; bulls, good and choice (beef) $7.65«j>$9.00; cutter to medium, $6.50@$7.65; vealers (milk-fed) good and choice, $11.00(8>$12.75; medium, $9.00(3) $11.00; cull and common, $7.00(f!)0.00; stock- crs and feeders, nteer.s, good and choice (all weights) $9.75@$10.7B; common and medium, $7.50(g>$9.75. Sheep, receipts 13,000; lambs, 2!ic to 50c lower; yearlings weak to 2Go off; Californ- las and native lambs, $12.50; some held higher; yearlings, $9.75'j/>$10.25; fat ewes 25c or more lower at $0.25 down. Lambs, good and choice, 92 Ibs. down, $12.00@$13.00; medium, $10.25@$12.00; cull and common, $8.50 ®$10.25; ewes, medium to choice, 150 Ibs. down, $3.50(g>$5.25; cull and common, $1.00 <EP$3.75.. 222% 224 lllli, 111% 49% 49% 211 213 80 80 44 44 87% 88 Today'* New fork Quotations. Quotations furnished for Altoona Mirror by West *' Co., members of Philadelphia and New York Stock exchanges, local office, First National Bank building. High. Low. Close. RAILS: AtChlson : 224 Baltimore and Ohio .... 112 Canadian Pacific .. t ... SOU Chesapeake and Ohio ... 213 xchicago and Northwest 80 Erie 11 U Great Northern .. ..,. 88Vi _... New Haven 113'A 112% 112-?; New York Central 174 Vj 172 <4 17214 Norfolk and Western ... 238V& 238Vj 238'/i Northern Pacific 80% 80% 80H Pennsylvania 77 Ti 78% 76% Reading - 116 116 116 Rock Island i 112 112 112 St. L. and S. F. : 110% 109 109 St. Paul, Com. i. 18% 1814 18)i St. Paul, Pfd. ..,.-. 30& 30% 30% Union Pacific -j 229 224 224 Western Maryland >:« ,. 29% 28-,'i 29% INDUSTRIALS: A. T. and T. Rites ..-.-.... 207» 20% 20 1 /!! Allls Chalmers -.i*.. 61 Vi BUVs 60 American Can 140% 143% 144% Amer. Foreign Power .... 88% 82% Amer. T. and T: 230 : ii 227% Armour A ,... 6«i 0% Armour B 3?4 3% Baldwin i!7% 27% Bendlx Corp •.-.-."... r42 * 41 Boverl IBIi 19% Columbia Gas 83% 81'/i Columbia Gramaphone •.:... 26% .25% Congoleum 14 Vj 14 Vi Continental Can , 6(i!i 65 Curtiss-Wrlght i. 8% •' 8% Davidson Chem 34% 34% zDupont de Nemours ' 129 126 Elec. Storage Btry 71% 71% Elec. P. and L 93V4 88% Famous Players 71 60% Freeport Texas -....•.-• 61% 49'.4 General Foods 80 % 5914 General Elec 83-li 80% General Refractories ..... .• 83 82 General Theatres *.-.,..... 48% 45% Goodrich 39% 38% Goodyear 87 84 Intl. Combustion *,, 8"/ t 7% Intl. Nickel 31% 30% Kelly-SDrtngfield , . .. 414 4 li Kreuger and Toll .n.. 32% 31% Lorlllard '241/4 23% Montgomery-Ward 45 % 44 % FhiUdrlpbltt Produce. PHILADELPHIA, June 5.—Strawberries Were in good demand on the local market today and price* were higher. New Jersey stock sold nl |2.50C<jJ6.&0 per 32-auart crate. Maryland and Delaware clock sold at ?2.25 ^'(4 50. Maryland aad Delaware cherries sold at H.&O&JDOO per 32-u.ufirt crate. Asparagus was dull with Pennsylvania •lock ranging from 7&c per dozen bunches lor culls up to |2.75 fur very large green •tuc-k. J-*a>> were in fceavy supply and weaker. Ne»rt>» biitheli. t-old at »1.7o'y*2.25 per . Spinach was weaker aud brought lOcfsl &5c per bufchel. Escurule brought 2GC426C. Beets were oti-udy at li 'j3',ic a bunch. Rhubarb brought H ^ 2<:. Norfolk •fcctloti cubbK'j'0 potatoes bu)U at 4&.2Q per barrel Bulltr— Fructiftiil oecliue lefcistfied today oi) all bcur<-i-.. SCI bic,rc, 3.M-; M icon.-, 34c; ftl score 3^*. ; i>u huurr, 3U - . Eg£» abuut Bteadj. <;raUe<i in;»rby while* btlu 24',ic<'l 25>.;v: H.iX'-d ci.ii ii: M'.i ''I '' CHI'.'ACO Juu.- b.-'Eiir-. i.i;in:.-t H. c reccipu 17H'ti ibbtfl; extra iii.it, '1- firtU. 21 '..< y 22C; ordinary Hn-^j li> ftttuude. lie. Buttrr. market fcie^dy; ret'-ijn-i 3^ tubs: cxtro. 3S'<c: e*lra ain't J wufctr; ncc!i<U .. 83% 230 : ii 227% 22814 -- --' .6% 3% 27% 41 19'U 81% 28 V4 14 U 65% 8 : Ji 34% 127 71% 80 »i 70 50 60 81VI 82% 45% 38% 85 7% 30% 41.'. 31% 23% - 44% National Cash ..... t.... (M^ 111% 82% National Dairy ....-,,... flOM, 59% 59% xxNorth American ,-.J .. 120 122 Vi 124 Pub. Service, N. J. .4 •.. 114 111% 112% Radio ra ,... 52 49 49% Radio-Keith v<.. 43 41VI 41% Remington-Rand i.., .... 35% 34 ?i 35 U. S. Rubber .... • 30% 29 29% Sears, Roebuck .... -... 86 84% 85 Schulte, A j 9% 9 9 Standard Gas 1181i 115!i 1151i Stand. Sanitary 32V 4 31% 31% Texas Gulf 00% f>9% 50% UnUed Aircraft 75"i 72 : !i ' 73',« United Corp 45 43 li 43-)i United Gas and 1 43 V, 42% 43 U xxxUtllltles P. and L. A 40li 39 39% Warner Brothers 60 64 MV» Westlnghousf! Airbrake . 42 42 42 Westinghousc Electric .. 179% 1751;. 176'i Woolworth 65 ij, 63 U 63 U MOTOUS: Auburn .;. 164 154 156% Chrysler 35 !i 34 li 3-1 % Continental 5 IK 5 5 General Motors &OU 49 li 49li Graham-Paige 8 8 8 Hudson 43 4211 42 li Hupmoblle 18'.i 17% 17% Mack 71 70% 70% Marmon 18 li 18 18 Naah 40 3(1 39% Packard IB"-, 16% 18% Reo lilt 11 11 Vi StudebalreT 35% 35% 33% White 35% 35% 35% Willys-Overland 7% 71, 7Vi Yellow Cab 26% 25% 25% HTKI:I.S: Bethlehem s-...y... 94 Vi Cast Iron Pipe 36 Colorado Fuel , 6U% Crucible 767i Otis 30 Heading C. and 1 . 23% Republic f '8U Transue William 10% U. S. Steel 171U Vanadium t 122 li Warren Foundry 39 li 93% 34 Vi, 66 76 30 23 16 93 % 34V 4 »71-j 76 30 23 56 16 116'" 38 roi'i Arner. •KKK: .Smelting 71% 69 Anaconda Calumet and Hecla 18% Cerru tie Pahco !j3 Granljy 32 Great Northern Ore ..... 21 Howe Sound 32 % Inspiration i... 19% Kennecott 47% Magma Copper .... i... 30 To Miami I..K... 22 Nevada 20 li Tennebbee 14'.a U. S. Smi-ltuiB . . -i -6 011>: Asphalt UO Atlantic Kelinilit: 42 •„ Barnsdall 27 li Continental Oil 2711 Houston <Jll 110% Independent 25 Indian Kenning 18 Mexican Beal/oard 30'/. Mid Continent • •• •••• 28% Pan Auiirkan B 63% Phillips PeU: 38 Pure Oil -'•'• lUchfleld Oil 22 Vi Bhell Union 2u :', Skelly Oil '•'•''< Stauilai-ti Oil Calif 71 Ktandard Oil N. J. Wi-> btarnlard Oil iv V '.',$''* KUII Oil U7 1 , Texan Company •''&'- '1'idewa.u-r A-sau 37 'j Un'iu'u Oil, '('allf i;. Hal. f 2.31U.OOO Mian:-, .'.louey 3 per ceul xKx. Ivr. Ji.. iil-Jx. I),v. 2 J >. *>..%KA. IJH-. !-;•. 18 52 li 30 21 32 19 461. 35% 21% 19% 13% 26 •12 li 26 : ). 26% 28% 27 'B 63% 37% facilities: "The United States were created and have been developed by optimists whoso vision, aspirations and confidence have been Justified by results. The trend In this country, is today, as It has always been, toward further progress and greater prosperity. Such setbacks In the mounting curve of prosperity as have occurred In the past have been temporary and their causes have soon been overcome. "No business man who hopes for success can afford to base his plans upon anything but the premise that the growth and progress of the country Is bound to continue indefinitely, in spite of more or less serious, retrogression that may from time to time occur. "American business Is, In my opinion, strong enough and resilient enough to absorb such shocks as it must Inevitably receive during periods of business depression which, until we know more about business economics, are bound to come occasionally, so that the important thing at the present moment is to realize that the on- war movement will continue and that with the passing of the temporary slowing down, Its pace will be accelerated. "Electric and gas utilities are, I am confident, in a sound position. Their services are essential, the demand 'for them Is growing and such serious problems as they face have to do with artificial restraints and rules of conduct rather than with those basic questions of supply and demand which ar,e the cause of difficulty in other industries. They are moving steadily forward with their programs of expansion and betterment, which Is the best possible evidence of the confidence that their managers feel In the basic soundness of general business conditions. "The problems of the local, transportation industry involve not only these questions of regulation but are fhterwoven with economic conditions that make them much more difficult. This industry Is just as essential to the well-being and development of the country as a whole as are the electric and gas industries. There, seems to be an unwillingness on the part of the public to pay the fair cost of this service. This attitude must be changed if the industry Is to live." The United States used to draw people from every corner of the earth but send out none of Its own. The growth of our international trade, and especially the development of American-owned enterprises in other lands, has changed that. Colonies of Americans have sprung up in many parts 'of the world. Complaint is sometimes made that aliens living here get together and maintain many of their native habits. Americans abroad usually find their own fellow-countrymen the most con- g'enial. It la surpfising how few Americans it takes to organize an American club and other American Institutions, Take Shanghai. That Chinese city has an American school attended by 500 boys and girls of families of American business men, professional men, missionaries, etc. The existence of this school has made many representatives of -American Institutions in the far cast more content with their lot, and has thus > greatly cut down turnover. (Copyright, 1930, by B. C. Forbes.) 69% 56% 18 .12 30 21 32 19 46?., 35% 21% 20% 13% 26 42 li 26% 26% 108% 24 !i 17 28% 27% 63 1', 37 li 21% 22 20 L. 20 Vi 2k 28134" i 34-\ -,!••". T'SI; W. BSli 57'. 57i.i 17 17',. 20 '* 201, (I lill MAlthl I I'll.-.- Se/V.i.e . ; 1'oril ul KiiKlan Guru. 17 , -Uv. GOVERNMENT BONDS IN GREAT DEMAND By P. H. IHCHABDSON, (Copyright, 1930, by Altoona Mirror.) NEW YORK, June 5.—While Wall Street did not expect a further reduction in the federal reserve rediscount rate today/ even though bankers' acceptances and bill rates have been reduced an eighth, there was heavy buying of Liberty and treasury long- term Issues. These advanced from 2-32 to 5-32, the widest gain being In treasury 4 1-4's. The rest of the bond market flatly contradicted prospects of a rediscount rate reduction by maintaining an irregular appearance in comparatively dull dealing-. The sharp demand far United States government obligations was presumably a prelude to the announcement of new treasury financing for the June 15 quarter. Time money stood at 3 pur cent for 90-day loans. Convertible bonds, after rernaining stationary in the dull trading of the first two hours, dropped as stocks dipped on increased activity. An exception, however, was the amusement group. Warner Brothers Pictures was the most active, gaining nearly ' a point. General Theatre Equipment 6's and Loew's 6's both were higher. Else where Allegheny 5's, Baltimore & Ohio 4'/i's, New Haven 6's, American International S'/a's, Chicago & Northwestern 4 3-4's, Southern Pacific 4 1/ i's and Texas Corporation 5's all had small los.ses. High-grade mortgages were quiet, with Klight advances in Atchison General 4X Pennsylvania 4'/ a 's, Union Pacific 4's, Philadelphia Company 5's and Columbia Gas 5's, and similarly limited declines in Baltimore & Ohio first 4's, Canadian National 5's, Canadian Pacific 4's, Great Northern 7's, Chicago, Burlington & Quincy 4's, American Telephone 5'/i's and Standard Oil of New York 4 1 / a 'a- TODAY'S BASEBALL. National. Cincinnati at New York, clear, 3.15 Chicago at Bonon, clear, 3.15 (DL/) St. Louis at Philadelphia, ulear, 3.30 (1JL). Pittsburgh at Brooklyn, clear, 3.20 (DL). American. Boston at Cleveland, clear, 3 (STD). Philadelphia at St. Luuia, part cloudy, 3 (STD.). Washington at Detroit, clear, (STD). New York fct Chicago, cloudy, 3 (DL.i. T. S. TltKA.St'UV HAI-.AXt'K. VVAHUI.Nl.iTON, I). C.. Juiiu 0.~ Thi- l.'uited States treasury balance un- nuimc'-d today a.s ul' close of butfirK-HH Join- 3 \va.-i $HX),25!(,34I. Customs receipts for i hi.- month to cJatu were *5,240,270.20. Totfil ordinary expenditures, *S,S7a,S«.«. BIRMINGHAM CLASS OF'30 NUMBERS 46 (Continued From Page 13) at, thft'libn-appearancs, of the bea'u'tl- ful lady, and his courtiers endeavor to Interest him by bringing an oriental dander before him. The ugly sisters arrive and are disappointed in their efforts to put on the slipper, faithful cat finds Cinderella In The her hiding place and urges her -to put on the slipper. She does so, the prince recognizes her, and she . the court ladies to taken away put on her bridal gown. Six bridesmaids and the bridal cake appear, and the finale comes with Cinderella happy, at last. Cast of Characters. The personnel of the cast was as follows: Helene Schorb, Marjorle Spiegel, Anne Bennett, Jeanette Mottier, Charlotte Eckerd, Ruth Kohne, Jean Sohn, Coral Frank, Gwendolyn Patterson, Mary Ellen Taylor, Margaret McCollOugh, Anna. M. Ritchey, Mary Hamilton, Mary Hubbell, Geraldine Westcott, Susan Layman, Roberta Greenlleld, Betty HaHey, Louise Cowherd, and the Various groups of pages, gentlemen of court, ladies of court, peasants, bridesmaids, white mice, ladies of snow ballet and gentlemen of the snow ballet. The director was Miss Madge E. Brewster; the costume's were In charge of Anne C. Hudson; properties were in charge of Winnefred S. Woods and Miss Mary C. Whltely presided at* the pianb. The Drill. One of the outstanding features of commencement day is the military drill, giving each year on the hockey fleld. A large throng of spectators lined the aides of the Held and filled the memorial stadium, and commendation and applause given for .the efforts of the military company was hearty and sincere. Sergeant Charlotte Eckerd of Erte received the William C. Auden- reld gold medal for excelling in competitive drill. The Antoinette Darden silver meddl was presented to Private Suzanne Phillips of Pittsburgh, and the Frank R. Magulre bronze medal was awarded to Corporal Harriet Blatt of Atlantic City, N. J. The organization for military drill is as follows: Acting commandant, Mr. Moulton; lieutenant, Mary Ellen Taylor; flrst sergeant, Jeanette Mottier; second sergeant, Charlotte Eckerd; third sergeant, Coral Frank; fourth sergeant, Esther Booth; flfth sergeant, Louise Wright; color sergeant, Ruth Kottne; color corporal, Eleanor Groh; color guard, sergeant, Anne Bennett; corporal, Gwendolyn Patterson; musicians,' Corporal Janes Spanjer and Mary Brady. Following the drill and presentation of the awards, the color guard presented to the school a Birmingham school flag. Mr. Moulton accepted the presentation. Dress Parade. Colorful and lovely was the Senior dress parade which preceded the class supper in Ivy court. Headmaster Preston S. Moulton and Ruckman Grier led the procession, followed by the. girls, all in gowns with bouffant skirts and carrying shepherds' crooks. Following the gay dinner in the court, the school prepared for the climax of solemnity and gayety of the day. At the class supper a bouquet of flowers was presented to Miss Ida McAllister of Royer, of the class of 1867, the oldest living graduate, who in sixty-three years has missed only five commencements. Commencement. The exercises of the evening opened with the march of honor through the colonade. The lower classes lined along the aides to allow the seniors to pass, graceful and lovely in their gowns of white; Seated on the lawn before the lodge, :with their shepherd's crooks before them, and with, many of their families and friends from near and far gathered about them, the graduating class prepared for the flnal :eremony of the scholastic year. The program was as follows: Processoinal hymn, Invocation, Rev. John R. Woodcock; "The Skies of June," Harris; 'Follow the Gleam," Douglas, school chorus; Aria—Schwer Leight Auf Dem Herzen, A. Goring Thomas. From Nadoschda, Miss Williamson, Mr. Hoover and the piano; address, Rev. Wallace, L. D., First Baptfet church, Pittsburgh; award of prizes, Preston S. Moulton, A. B. headmaster; presentation of diplomas, Alvin Ruckman Grier, A. M. Lltt, P. D., president; benediction. Splendid and most inspiring was the address of the evening by Dr. Petty. Witty and forceful, yet with profound truths as the foundation of his theme, he spoke of the need of culture in the world, tho qualities of culture and the high aim that guides all who truly seek to make themselves cultured. Award Prizes. Awards were then mado to the following: Nancy . Jane Davis prize, awarded to that student whom the faculty seeks most to commend for character, conduct and achievement, being the highest honor in the school, to Esther Terry Booth of Houthold, N. Y. Lemuel G. Grier prize, to that student whose average in scholastic work for the year Is highest, given by Dr. A. R. Grier in memory o£ his father, to Edith " " " Catherine Maquire athletic trophy, to that student who has excelled in athletics, In effort, achievement and good sportsmanship, to Jeanette Mottier of North East, Pa. Albert Harbison Bible prize, to that student who excels in Bible study, to Isabel Davis of Monongehela, Pa. Eleanor Bowie art prize, to that student who excels in study and improvement in the art department, to Ruth Koline of Pittsburgh. EJizabeth Jane McDonald prize, for excellence, improvement and achievement in instrumental and vgcal work in the musical department: The instrumental prizes were awarded to Sarah Rhodes of Pittsburgh and Jane Morgan of Pittsburgh; the vocal prizes to Cherry Sale of Scarsdale, N. Y., and Virginia Shoemaker of Oil City, Pa. The Budinger prize for botany, for excellence in study of botany, to Gwendolyn Patterson of Pittsburgh. Honors tot High Average. Those students to whom were awarded honors for attaining an average ofv 80 per cent or over for the year were: Eleanor Aaron of Connellsville, Elizabeth Robtrta Bingay of Perrysvllle, Dorothy Sylvia Blatt of Atlantic City, Esther Terry Booth of Southold, N. Y., Margaret Jeanette Boyer of Northumberland, Mary Brush qf Slatington, Jean Friedberg of Chicago, 111., Marjorie Jane Friedman of Winnetka, III., Betty McKay of Sistersville. W. Va., Eleanor Baldy Owen of Danville, Gwendolyn Patterson of PittHburgh, Sarah Elizabeth Rhodes of Pittsburgh, Marjorie Mae Spiegel of Chicago, 111., Elizabeth Wilson of Beaver, Mary Ellen Wilson of Beaver and Edith Woodcock of Syracuse, N. Y. The graduates are: I'rtpurutory Course. Eleanor Aaron of C'onnellsville, Pa. Blanche Amberg uf Detroit. Helen I Bird of Sundy Spring, Md., Dorothy I Ulatt of Atlantic City, Esther Booth of iSouthold, N. Y., Mary Elizabeth Bowles ot Altuona, Margaret Boyer of Northumberland, June Bric-ker of Leuiuynu, Pa., Frances Darden of Suffolk, Va., Wary Dcemer of Brookville, Marian Denson of Washington, D. C., Elizabeth Devlin of Erie, Pa., Jean Friedman of Winn.-tka, III., Mary Hamilton Ql Wllkea-Bari-e, Tlicluitt Huui.plmes of GENERAL FINANCE OUTLOOK FOR TODAY ny CIIA»I/E& F. (Copyright, 1930, by Altooha Mttror.) WALL STREET, NEW YpRk, June 5._With the stock market shrinking in size until dally transactions are less than 50 per cent of the moderate turnover In June 1928 and 1929, It is of interest to check up on the position of prices today compared with those of twelve months ago. It was at this time last year that preparations were being made, leading to the biggest era of speculation in the 'country's history and reaching the highest price average on record in September. By various, measurements expressed In average quotations both industrial and railroad stocks are now below the levels of the first week in June last year. The one and the other 10 ing railroad iflsu about 6 points ts. Dividend pay- show slightly less decline for the period than those that are not paying off their profits to shareholders, Within the industrial list there are irregular tendencies between the various general classifications of stocks. For instance, the manufacturing group is over 26 points higher than in June 1929. Foofl stocks are up about 2 points, while the oils are within a point of their average price last spring. Against this, is the decline of 7 points In iron and steel stocks, of between 35 and 40. points in the coppers, nearly 30 points in equipments and about as much In th* motors. In smaller categories of stocks there are some that show improvement over market values last year and others that have fallen well below the bottom figures of last November. The large list of investment trusts and trading corporations is still characterized by an unusual and hard-to- explaln shrinkage from the basic point of liquidation value. They have never fully recovered In popular esteem what they lost In prestige by their unfortunate action in^ the general, collapse last autumn. Taking current prices from another comparative basis, that of last November, we find this to be the situation. Between the high level of Sept. 3 and panic day of Nov. 13, there was a drop in industrial stocks of 183 average points, or nearly 50 per cent. In railroad stocks the fall was 61 points, or over 30 per cent. At the top of the April 1930 market, industrial stocks had recovered approximately half of their loss in the September- November period. Of the gain of 96 points in the average, over* 50 points had been made since Jan. 1. Railroad stocks, meanwhile, had made relatively as much recovery, but had secured the full effects of ,a more confident Wall Street opinion earlier th£tn the other group. During April and well Into May there was 'steady liquidation In the rails which reached their low average for the year just a month ago today. From this level they have had a.moderate recovery. DAY'S ACTIVITY IN GRAIN MARKET By GEORGE C. SCHNACKE^. (Copyright, 1930, by Altoona Mirror.) CHICAGO, June 5.—The wheat market today had a heavy tone due to liquidating pressure caused by more favorable weather in , our', northwest and southwest. There was enough profit-taking by shorts on the dip, however, to check the decline after moderate losses. Buying by shorts and some locals because Liverpool was not so weak as expected, caused' a fairly steady opening, but liquidation soon developed. Locals were inclined to follow Winnipeg which was firm early, giving this market a v nervous appearance, but later the Canadian market weakened and early buyers.here unloaded. Corn was under pressure from discouraged longs and commission houses because of beneficial rains over parts of the belt where most needed. Buying against indemnities was the only support. Provisions were firm as a result of short covering.' Open. High. Low. Chwe. WIIEAT— July •.... 105% 10fl% 104% 106% Sept, " Dec CORN— July Sept. .. . Dec OATS— July Sept. . . . Dec RYE— July 108 ft 100% 108 V4 100 Vi 113 IHMi i!2% 81U 82 78% 40 Vi •I 0V* 43 U BT'.i 80 Vj 81% 76 Vj 39V, 39 Vj •12% OUi 65*1 70% 82'4 82','j 78 «, 40-% 40 Vi 43 62". 8fl'!', 72'i Wilmington, Del., Betty Lou Johnston of MeKeesport, Martha Kock of Bradford, Pa., Susan Layman of Chicago, Katheryn Lewis of Johnstown, Pa., icr in memory of his father, Betty McKay of Sistersville, W. Va., Woodcock of Syracuse, N. Y. jjain- Morgan of Pittsburgh, Mary Naylor of Tiffin, O., Suzanne Phillips of Pittsburgh, Mary Elizabeth Rinard of Miuihall, Pa., Roberta Tobbins of Wilkes-Barre, Helen Louise Shaw of MeKeesport, Betty Spencer pf Fincllay, O.. Marjorle Spelgel of Chicago, Mary Wilson Stewart of Indiana. Pa., Betsy Jane Welner of Akron, O., Edith Woodwork of Syracuse, N. Y. Academic Course. Anne Bennett of Circlevllle, O., Jeanetta Campbell of Royeraford, Pa., Henrietta Cline of Cleveland, Isabel Davis of Monongahela, Pa., Charlotte Eckerd of Erie, Ruth Kohne of Pitts- bui'Kh, Helen Messer of Oil City, Pa., Jeanette Mottier of North East, Pa., Surah Rhodes of Pittsburgh, Virginia Shoemaker of Oil City, Beth Simmonds of Shamokin, Pa., Mary Ellen Taylor of Pittsburgh, Louise Wright of Pittsburgh. _TOO LATE TO CLASSIFY Help Wanted—Male *^^^>XS^SXN^NXX^N^S^^w'N^S»*^^W^V'^'N^N/X^ N >X%^*V^>^ 1 » FIRST CLASH BARBER WANTED AT oner. Ajijily to Morun Barber shop at 713 Unfurnished Apartments 1!)00 -Ith AVK. -- - 8 all cunvrniimu-'ij, Kei' 10th St. Dial U65S. ROOMS AND BATH. ond Hour. Inuulru 508 SECOND FLOOR M:PL,EX, 1131 WASHINQ- ton Ave., •! rooms, bath, finished attic. Heal, ratij.-,''. linoleum and shades furnished. Dial 2-0076. Rent — Houses i'OK HKNT-HOUSK AT 310 5th ST.. ALL modern convenient-en. Inquire at 505 4th Ave. General Builders Distributor* Curtis Woodwork I'Uoue 9331 1720 Margaret Ave. By GEORGE »B WltT (Copyright, 1930, b* itt&SItt Mirror.) NEW YORK, Jtlrie S,-^FltiCtuatlon« In cotton were rhdfe irregular today than at any ttme beforS thisl wftek-. Instead of steadily declining prices, the marllet made tt*w low records early and then rallied 10 points on short covering due\to less demoralized conditions In sliver and silk. Though rubber quotations made a new low In recent history, the fact that .cotton hfts deollhed about three- quarters of a.cent frdrh the level pre-- vailing 'a w«ek ago, led professional Interests to secure profits at the lower basis. . ' Weakness In the stock market brought ^reselling later in the morning when prices sagged back below last night's closing figures. The most Important news of ^he morning was- the appearance of rain In Georgia, where moisture is highly beneficial. Wednesday's weekly report from that state showed " dry weather had been unfavorable for the prop recently as a -warm, General rain was urgently needed. ' " Morning details indicated over' halt an inch precipitation at twelve stations in the Atlanta and Savannah districts, several joints having an Inch or more, the best rainfall In some time. State details show that the twenty* seven stations reporting from Georgia to the weather bureau received an average of 2.32 Inches during the month of May, as compared with 5.20 inches last May. Most.of this fell In northern sections of the state with sixteen stations, or more than half the reporting points situated In central and southern Georgia, showing an average of only 1.20 Inches compared with 4.20 Inches i year ago. Complaints of poor progress have been coming from sections where the heaviest precipitation occurred Wednesday night. Showers were also' reported in Oklahoma, but predictions were for fair weather in the west and further showers in the east, which rendered the weather outlook favorable in the fextreme. Unsatisfactory textile reports continue to emanate from Great Britain, and It is estimated that the American section of Lancashire Is now employing only about 50 per cent, of Its machinery. PRODUCE EXCHANGE. NEW YORK, June B.—Heavy trading in Irving Trust shares' was the. only point of interest in security trading on the produce exchange today. Irving Trust, after openlhg unchanged at 57, dropped 1% points in large block transactions. Other prices were virtually unchanged. Claude Neon Light dropped to 14, Phantom Oil was unchanged at 213-4 and American Austin Car stood unchanged at -6. BANK CLEARINGS. NEW YORK, June 5.—New York bank clearings, $li285,000,000; New York bank balances, $211,000,000; New York federal reserve credit balances, $190,000,000. PRICED] COTTON f HUES •>: the- tflgnland pal* noo orderly today |$M Miey'Ltotfi" been thrown Into a-jhea* panic |alt, night by a fire in M small building near their quarters. Head Keeper Ernest fretow moved among the frightened animals in an effort to quiet them when the blaze was at its height and his presence was said to have aVerted any Serious harm to them. Damage to the building, a refreshment stand, was estimated at $3,500. Altoona Discount Co. 1«5 lath Av«. #«» A*«fl Blde> Small Loans to, Haw Owners of Good Standing , WHEN BUYING SILVERWARE, BUY THE BEST! For the June Bride—there !»• no more endearing gift than silverware—none that lives so -long in beauty and service! A true symbol of lasting brightness and happiness I , 26-piece Cheit....... .$29.75 and up Piecei of 8 at $44.00 and up Hollow Handles and Stainless Steel Knives EASY CREDIT LEADING CREDIT JEWEtEB Tou Want to Rent Your Summer Cottage; Sell Your Car, Lot or Canoe to Young Men ... Remember That the Altoona Mirror Want Ads Have the Young Men Readers Whom You Want to Reach! Each day many people are renting rooms, house*, apartments and cottages. Also selling miscellaneous articles that they have no use for. You, too, can use Altoona Mirror classified ads to an advantage. Just come to the Altoona Mirror office and have an ex perienced ad-taker write your ad. ALTOONA MIRROR Advertising Department Office Hours Daily, 8 A. M. to 6 P. ty. Except Saturday, 8 A. M. to 2 P. M. SK!fi!iitfiro!fiyi!ftftrUfi!K^^

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