Daily News from New York, New York • 99

DAILY NEWS. SATURDAY, OCTOBER 6, 1934 PRICES RISE IN HOPE OF RELAXING BY NRA Gets 2d Warning On Promises to Aid Newsdealers Although he volubly denied he By BILL was operating a racket, Ernest R-Wolf, president of the News Deal ECONOMIC BAROMETER Yester- Thurs- Week Month Year day day Ago Ago Ago Cotton, N. 12.45c 12.40c 12.55c 13.35c 9.50c Wheat, Chicago 97c 9Gc $1.06 85c Corn, Chicago 74c 7814c 79c 41Vie Cattle (top), $10.25 $10.25 $10.75 $10.75 $7.00 Hogs (top), $6.45 $6.40 $6.85 $7.45 $5.40 Copper, New York lc 9c 9c 9c 9c Sugar, New York 2.95c 2.05c 2.95c 2.86c 3.53c Coffee, Santos, N. HV4c HV4c HVic ll'ic 9c Immediate Delivery. Detroit, Oct.

5. The Automobile Merchants Association of New York suited the public when it set the date of the 1935 Automol Show at Jan. 5 to 12, with the place the Grand Central Palace. It is doubtful whether any one can tell by the displays wheth the show is being run by the manufacturers, as vears or by the -A i A ers Clearing House, got his second warn-; ing yesterday to "be careful" in the conduct of his project, which, according to his own esti mate, would collect between 6 0,0 0 0 and $75,000 annually from news- By "TRADER." OVERNIQHT word from Washington, D. that the NRA was considering relaxing its attitude toward code enforcement and price maintenance brought a moderate rush of buying into the stock market yesterday.

dealers, as now for the first time in its history. What the public wishes is to see new models and maybe buy a few right on the show fii And since 1935 is ing to sc.i a great many chanp.s in design, even over outstanding the public is bound to ck to the show in droves, as hereto- fore. Commissioner Moss dealers. The warning In the most active trading in STURM. narrower front end than most cf them have today.

They may be so extreme as the La ut they will never again be the blunt, broad nosed tye tr wa so common a few years hack. Lorg an.l sleek-looking, with even ror speed and power, is the ticket fur next year. All models of the Nash have cv. incidental clutch starting. Tlie engine is started merely by pressing down on the clutch pedal.

The length of the springs in the Auburn totals per cent, cf the wheel base. Auburn's springs are long and flexible. The spring shackles are bushed in live rubber, so that the old bother of lubricating shackles is gone forever. Such bushings also keep road noises from getting to the body. Auburn also has a device' that prevents road shocks from being transmitted up through the steering le the wheeL Heard some one the other day asking what would happen to knee action coil springs when the snow and the ice got into them and froze them up.

This just ctn't be. With the constant movement the snow and ice isn't going te solidify and even if it does while the car is not moving, a few minutes of movement and the snow and ice will all be shaken- from the springs. THE TWELVE LEADERS Sak-s. C'losf. Ch JS Sicks.

Corp. :5 1 2 24 hi 1 ao 1 1 28'i 1 21' 1, 37 1 -r Chrysler Corp Consolidated Electric Auto-ljte. General Motor 20,100 lot Nickel 10.2110 McLellun 35.100 Montgonwrv Ward MH.ooo Nat Distillers 2.HO(i Paramount Tex Gulf and Sulph. Steel 15.30U Model A "Fords have long since given way to more up-to-date transportation, but there are thousands and thojsands of still on the road. I know a young man who bought one on Feb.

21. 1929, and religiously le't th. expense involved in owning the car. At the end of -e year, mileage, 7,557: cost, average last several weeks, prices pushed up 1 to 2 and more points, and although the pace slowed appreciably after the active opening most issues closed around their tops. Bears who had sought to take advantage of the political situation in California by selling shares of corporations located in that State, covered hastily.

Bonds followed stocks. Grains firmed less enthusiastically, but wheat was up fractionally to a cent, and cotton was firm. came from License Commissioner Paul Moss, who had Wolf once more on the carpet for issuing circulars in which he guaranteed to "assist" newsdealers in obtaining licenses. Disapproves of Scheme. Wolf protested he had been trying to recall the circulars bearing the "assist" clause, but Deputy Commissioner John Rainey declared that several dealers had brought in such circulars received some time after WTolf's first promise to recall them.

"I disapprove of any such scheme and I want to go on record as saying so," Moss declared. Names Backer. Wolf said the company expected to get $6 a year from 10,000 to 15,000 newsstand operators. He named Herbert Prenzlau as vice U. S.

Govrrnmetit BondH. Close. Ch'Re. Lib. '32-'47 .4 Lib.

4 '33-'38 103.14 .1 Trtas. 4 Us '4T- o2 110.10 Mail order, linuor. automobile broader, better fortified and fraught greater reserves with which per mile, 2.1 cents. Includes gas, oil, greasing, changing of title, liability and property damage in-! surrnce. brushes, chamois, etc, for cleaning.

Used best of oil and gasoline. Second year, averte mile, 2.04 cents. Third year, 1.92 cents, Fourth year, 1.79 cents. Fifth year. average per mile.

1.77 cents. And he still has the Model A. una DunuinK wr.c i to profit by advantageous develop best aemana on conunuea inun- ments. tions of business expansion. The Om the best temtmm mvrr prm4mrA hy nfwipapff tm hm kmc "DMiy Trmm Starr frm Rrmi Llim Actmmi mtmrwm Speaking of next year's models: There is vry little doubt that most of them will tend to even president and treasurer as well as right wt mt It- mimmn, plmimgm While the abrupt about-face of the market yesterday may prove to be the real turning point, "TRADER" cautions against reentering the market when prices are rising.

In the event of a reaction today of around a point or so, which is not likely to occur, trading positions might be resumed on a moderate scale. Otherwise "TRADER" would wait a more i financial backer. merchandising issues were probably in the best demand as Dun Bradstreet reported retail trade in the large cities has shown a quickening beyond early provisions made by merchandising managers, and in a number of instances, retail organizations had found it necessary to replenish goods from wholesalers. Spiegel May Stern, MeLellan, Macy, Best, Associated Dry Goods, Montgomery Ward and Sears Roebuck were up 1 to 2 points. Two-point-or-better gainers included Air Reduction, Coin Products, Delaware and Hudson, Liquid Carbonic, Manhattan Railway, guaranteed, which went to a new hierh.

Motor Products. Union Pa I favorable opportunity. What Stocks Did. Yeter- Thursday. Advances 456 151 Declines 66 298 Unchanged 102 154 Total issues traded in.

624 603 cific, U. S. Steel, preferred and Wright Aeronautical which soared 4V4. Half -Billion Budget Gets Boards 0. K.

A long list of representative issues in all sections of the list rose a point or more, including American Can, American Telephone, Atchison, Case, Dul'ont, Chrysler. Electric Auto Lite, General Motors, Johns Manville, Bethlehem Steel, Nash Motor, National Distillers, Monsanto, United Aircraft and U. Mayor LaGuardia's proposed budget on city ex- S. Steel. i- for the year 1935 was ine tainornia siocks, wnicu formally adopt- MlNUMCTHIIlEllS TRUST COMPANY Condensed Statement of Condition as at close of business Septrmler 29, 193 1 RESOURCES Ca-h and Due from Banks 75.029,076.67 U.

S. Government Securities Io2.990.951. 63 (Include Bond Ciaraalrxl by the I mted Suts Goveraotrot) Slate ami Municipal Bonds 21.918.101.21 Other Securities 49,203,011.53 Loans and Bills Purchased 163,890,195.00 Mortgages 25.570,322.00 Banking Houses 15.690,196.29 Odier Real Estate Equities 1,198.336.19 Customers' Liability for Acceptances 1 7.836.83 1.86 Accrued Interest and Other Resources 4.550,751.03 563,177,809.41 LIABILITIES Capital 32,935,000.00 Surplus and Undivided Profits 10,297,483.19 Capital Notes V. 25.000,000.00 Reserves 21,716,742.07 Dividend (Payalle October 1, 1934) 411 ,687.50 Outstanding Acceptances 19.811.079.37 Deposits 452,975.81 7.23 $563,177,809.41 HARVEY D. GIBSON.

President were sola inursaay on me suiy ed by tne Board theory that the election of Upton cf Estimate Sinclair as Governor would drive yesterday and capital from the State, came back public hearings a point or so. These shares includ- on jt wjf ed California Packing, Safeway held Oct. 9, 10, Stores, Standard Oil of California, 24 and 25. Union Oil, Pacific Gas and Pacific i The Board of Lighting. Estimate has until Oct.

31 to "Sufficient progress has been adopt a budget, made since mid-August to prove Five days after that the lows of the year definitely that date it are in the past and that the turn- comes before Commissioner Moses ing point for business has been the other branch reached," Dun Bradstreet said of the Municipal Assembly the in their weekly business review. Board of Aldermen where items "With the hee-innin? of the final 1 may be reduced but not increased. quarter, business is showing strong- in tne same uoara oi meeting Park Commissioner Rob ert Moses, striving for an exten- added, "for even though the pres ent trend is indefinite, more ground is being gained than lost. "The uptrend at present lacks the seasonal accompaniments of last year because of the absence of inflationary stimulus, but it is MARKET BAROMETER sion of the Sawmill River Parkway, pictured the great difficulty in collecting park and street opening assessments these days. He has lined up Federal funds for the Sawmill Parkway project.

Aldermanic President Bernard S. Deutsch has called a conference on unemployment insurance to be held at the City Hall next Wednesday. In inviting social workers and labor leaders, Deutsch took issue with President Roosevelt on the latter's claim that unemployment will be completely disposed of eventually. "We will have unemployment for (Copvrifht. 1334.

by Standard Statistics N. y.l Yester- Year's Tear' dav CVre Hieh Low 50 Industrials 82.8 1.6 105.0 76.0 20 Rails 37.2 0.7 54.3 34.1 20 Utilities 58.5 1.1 90.3 53.6 90 Stocks 71.5 1.4 93.8 66.4 STOCK SAt.ES. Head Office: 55 Broad Street, New York Cit Mrmbrr Federal Reserve System Member York Clearing House Associativa Yesterday STO.AiMi Thursday many, many years to come, and Friday, iast year 1,460,000 tne unemployment insurance sys BOND SALES. tem is one that must be in operation over a period of time before it produces benefits," said Deutsch. Testerdav S13.B4O.00O Thtirsdav 0.0OO,iWO Friday, last year.