Reading Times from Reading, Pennsylvania • Page 14

Fourteen Business and Finance By B. C. FORBI Better Business and Stock Rise Seen By Forbes LOOKING the writer's Confidence in the coming of rising prosperity and rising prices lor stocks steadily is strengthened. i ADMITTEDLY, it is still" easier to trot out unfavorable than favorable statistics, especially if comparisons are limited to last year's abnormal records. The railroads are hauling less freight than a 'year ago, the vol time of checks passing through banks is less, steel output is less, construe tion activity is less, employment is less, instalment buying is less, automobile production is less, the general commodity price level is lower.

The unrestrained enthusiasm of last May has been transformed into uncertainty, not to say pessimism. Twelve months ago the prevailing notion was that nothing could possibly happen to even act as a brake upon America's pell mell prosperity. The prevailing notion now appar ently is that nothing can happen to start a movement toward prosperity. THIS DRASTIC change in the action and the attitude of the country is one very potent reason for taking a distinctly hopeful view of the outlook. For more than six months economy and retrenchment have been the national watchwords.

Production has been severely cut. Spending has been vigilantly curtailed. Inventories have been allowed to run down. Unemployment has quickened the productive efforts of wage earners. Widespread attention to the stock ticker has given place to strict attention to business.

Sobriety sup planted recklessness Immediately the stock panic broke loose. THE ALMOST general withholding of forward ordering of materials and goods has brought about a decline in many prices to the lowest levels in eight years, in some cases to the lowest levels since 1914. The borrowing of money for commercial purposes has been abnormally reduced. So have brokers' loans. Consequently, interest rates in New York have fallen inordinately to 2 to 3 percent for call loans, to as low as 3 percent for short date time loans, to 3 4 percent for commercial paper and "to 294 to 214 percent for bankers'.

acceptances running up to 90 days. JN MY HUMBLE judgment this whole downward movement in commodity prices, in buying, in employ ment. in security quotations has about run its course. The summer months, proverbiallv dull, may not bring any pronounced upturn in industry or trade or even in stocks. But the trend promises from now on to be upward rather than down' wards, and by fall the whole complexion Is likely to change.

FRIENDS WHO keep constant and close watch of what happens moment bv moment and hour by hour on the floor of the New York Stock Ex change, tell me that of late it has become easier to send stock prices up than down. They declare that important bears have lately found it difficult to cover their commitments without immedia tely causing an ad vance. Liauidation by the pub'ic manifestly has driel up, at least for the time When transactions fall below 2,000.000 snares for a full day. 85 thev did last week, it is obvious that there is no general pressure coming from outside sources. These same observers say that good stocks are now being quietly accumulated bv various extremelv powerful institutions and individuals, including bonkers, investment trusts and capitalists.

IT 13 ASSUMED bv many that nothing more than the customary summer backing and filling need be looked for in the stock market during June. July and August, therefore, there is a tendency to hold off in the hope of being able to acquire investment stocks on somewhat more attractive terms between now and Labor day. My guess is that buying will begin to overtop selling before the arrival of September, and that the final third of the year will witness very spirited speculation. Delays may prove dangerous. THE GERMAN war bond issue here, now put at $82,500,000, will shortly be out of the way.

So will the vexatious tariff, either by becoming a law or being vetoed by President Hoover, who certainly cannot view with any satisfaction the "limited" revision he promised. The time for the adjourning of oongre is not far distant and this, too, will be a relief. Meanwhile, financial sentiment may be stimulated by merger an TIMES PHONE 6101 "I READING TIMES, EAOTNG, PA MONDAY MDRNIHC, CI AT 26, 'f 9 3 The Background of the Market Complete Investors' Summary Compiled Daily (Except Legal Holidays) for The World News Service by Standard Statistics Company, Inc. Aircraft Canadian Transcontinental Airways. deficit $158,008 from November 30.

1828 to December 31, 1929. Central Airport, 1930 fiscal year deficit $19,223. Dayton Airplane Engine announces two new engines. Kinner Airplane and Motor unfilled orders approximated $1,380, 000; four months' production 192 motors vs. 113.

Apparel Davenport Hosiery Mills share earnings four months to April 30, $1.03 vs. $1.13. Automobiles and Trucks Fruehauf Trailer 1929 earnings 41 cents a share vs. $1.83 in 1928. Graham Paige Motors introducing special eight, convertible sedan for $2,085..

Automobile Parts and Continental Motors corporation orders on hand approximate $8,000, Automobile Tires, Rubber Goods, Dunlop Rubber 1929 ordinary share earnings 21 cents vs. 6 cents in, 1928. Banks and Insurance Public Fire Insurance. (Newark) initial 5 percent dividend on capital stock. Building, Real Estate Related Lines Petoskey Portland Cement company 1929 earnings before federal taxes $129 vs.

$1.07. Texas Pacific Land Trust retired 10,500 sub shares as average price of $15.05 a share since January 1 shares now outstanding 1,8134700. Chemicals Imperial Chemical industries 1929 ordintary share earnings 41 cents vs. 44 cents in 1928 (maximum Copper and Brass Anaconda Copper stockholders number over 100.000. Inspiration Consolidated Copper dividend 50 cents vs.

$1 on April 7. Iron Cap Copper; no profit possible at Christmas properties at current prices and operating conditions. Cotton and Cotton Goods Cotton spindles In place on April 30, according to preliminary census, totaled 34,195.464. of which 28,860,382 were operated at same time during month vs. 38,898,464 for March and 30.911,416 for April, 1929; based on 8.88 hours perday operation were at 96.3 percent on single shift basis vs.

92.8 for March and 110.3 percent for April, 1929. Food Products Austin Nichols initial 75 cents quarterly dividend on prior A stock. Canadian Canners quarterly second preferred and common dividends each increased to 25 cents. Household Products Mohawk Carpet Mills quarterly 75 cents dividend omitted. Investment Trusts American Utilities and General joins with Mood.v Seagraves and Hope Engineering in acquisition of American Fuel and Power control.

Chatham Phenix Allied initial 50 cents dividend: liquidating value on March 31 was $26.49 vs. $25 cost price on October 8, 1929 Founders Holding company liquidating value on March 31, $3.68 a share. Machinery and Machine Equipment American Machine and Foundry proposes common to 1.500, 000 from 300iOO shares and exchanging present 200,000 shares outstanding on five for one basis. International Cigar Machinery proposes two for one stock split. Lynch Glass Machine extra 1 percent stock dividend and regular 50 oents quarterly.

Mesta Machine extra 10 cents dividend and regular 40 csnts on common. Miscellaneous International Salt proposes reducing stock to no par from $100. increasing shares to 240.000 from 60,000 and issuing three for one held: rights, one for three new held, at $36; proceeds to finance sterling Bait acauisitlon: auarterlv dividend on present $100 shares increased to $2. Kendall company profits. 12 weeks to March 21, $33,047, equal to 87 cents on Its preferred vs.

sais.ia, equal to $1.79 on common. United Linen Supply earn3d per common snare isza. Oil Gulf Oil subsidiary surveys for 200 mile pipe jUne from Darst Creek field to Sour Lake. Pierce Petroleum March quarter deficit $173,973 vs. $31,122 profit, equal to 1 cent a share.

Signal OH and Gas quarterly dividend increased to 50 cents on Class A and stock. Skelly Oil abolishes nouncements of the first magnitude. Indeed, more significant and import ant combinations than any that have gone before may be witnessed in the second nan oi tnis year. THAT THE second half will be much better than the first half can not be doubted. (Copyright.

1930) Chase Securities Corporation Affiliate of The Chase National Bank of the City of New York announces the opening of its Philadelphia Office 1608 WALNUT STREET, under the direction of its Assistant Vice President ALFRED R. HUNTER Telephone Pennypacker 6162 pre emptive rights to additional stock. Paper and Paper Products Container Corp. share exchange offer rejejeted by Sutherland Paper. Kaiiroaas Couzens resolution passed bv senate forbidding holding companies to acquire further control or exercise present control over carriers; it also provided for suspension of power of C.

C. to approve railroad consolidations until March 4. 1931. except on fulfilment of certain conditions; house not to act on resolution at current session. Chicago.

Great Western April profit estimated at $49,000 vs. $50,000 deficit; four months at $192, 500 vs. $167,000 deficit. Minneapolis, St. Paul and Sault Ste.

Marie (including Wisconsin. Central), April deficit after charges $499,168 vs. $254, 628 profit; four months' deficit $2, 497,279 vs. $1,090,623 profit. Western Maryland railway April surplus after cnarges up x.i percent; xour montns off 2.7 percent.

Wisconsin Central April deficits after charges, $320,364 vs. xour montns deficit, 313,022 vs. $704,080. Railroad Equipment Baldwin Locomotive April shipments five months about $14,000,000. Sugar Great Western Sugar cuts price 20 points to 4.50 cents a pound.

Spreckels Sugar deficit $104,209 from May lit to Dec. 28, 1929. 1 Tobacco Leaf Tobacco Stocks on April I totaled 1,965,246,000 pounds vs. 1,949, 002,000 year ago and 1,754,451,000 on Jan. 1, 1930.

Utilities American Telephone and Telegraph; $188,575,400 4 percent convertible debentures converted into common. American Water Works and Electric April electric output up 1 percent; four months four percent. Brazilian Traction, Light 1 and Power April profit up 1.8 percent; four months 1.3 percent. Buffalo; Niagara and Eastern Power April electric output up slightly; four months 3.6 percent. Cities Service and subsidiaries April surplus available for common dividends and reserves up 89 percent; twelve months 56 percent.

Kansas City Public Service April profit before depreciation off 37 percent; four months. 36 percent. Public Service Electric and Gas negotiations with Burlington, N. for anticipated construction of large generator site; total expenditure of $50,000,000 planned. Southern Canada Power company April profit up slightly; seven months 4.4 percent.

United Light and Power holds over 51 percent of American Light and Traction stock. At the Courthouse Title Insurance Department of Colonial Northeastern Trust Company furnished the folic wins irf ormation covering full day's record at the court house Saturday. REAL ESTATE TRANSFERS Harvey Gumling and wife to Martin D. and Hannah R. Grill, Mohn ton Martin D.

Grill and wife to Harvey and Annie Grumling, 'Mohnton Nominal John M. Yoder et ai, to George A. Pursel. 1347 Green st $1,700 George A. Pursel and wife to Pal tine and Geovend Valente, 1347 Green st $2,550 Harry G.

Schweikert and wife to Elmer B. and Dorothea Sailer. 733 Weiser st $2,500 Sallie Eshelman and husband to Samuel Halterman. Robeson town ship William A. Haag and wife to Herbert E.

and Edith E. Foltz, 2231 Highland West Lawn $6,875 Berks County Real Estate Co. to Ray R. and Miriam M. Yon, West Wyomisslng $550 Harvey Grumling and wife to Harry H.

and Lizzie M. Eckenroth. Mohnton $1,900 COURT PROCEEDINGS LETTERS GRANTED Jane Bauer to William Bauer, personalty none, realty $450; George W. Reinert to Amelia Reinert, personalty $339.72, realty Winifred O'Meara to Darius Bressler. personalty $254.50, realty 'none: William B.

Henry to Raymond Henry, personalty $200, realty $5,500. APPEARANCE DOCKET Martha Kelly vs. H. Dale Thomas, P. D.

Edelman, attorney; Helen E. Drei belbls vs. Charles Shartle, D. Sherman, attorney; John R. Dougherty vs.

Farmers National Bank Trust Lee Friday and Joseph R. Dickinson, attorneys Jeanette Featherman Smigelsky vs. Ruth Lehman, H. B. Hoffman, attorney.

Wall Street Review mw vnRK ibr 25 Business recovery appeared to be malting the halting and dilatory progress during the past week which is characteristic of periods when the nadir of recession has ben reached. Sentiment in both business ana oamung circles appeared to be improving, after the fit of pessimism induced by the failure of spring to bring a vigorous upturn. Definite signs of improvement are now rather confidently expected tn mncir sometime between mid summer and early autumn. Factory activity, on the whole, showed the influence of the seasonal lull expected at this time, aitmougn the automobile manufacturers continued to operate their plants at a good rate, compared to a normal year such as 1928 Despite the slackening of factory work, the seasonal increase in outdoor work has probably taken up some of the slack in employment. Softening of commodity prices continues, although there is a fairly general feeling that they are scraping on bottom.

The annalist weekly index of wholesale prices showed a decline of about 113 of one percent from the nrevious week, largely rep resenting a sagging in foodstuffs. This remains one of the chief factors of unsettlement, as buyers' naturally hesitate to make commitments while any prospect of a better pargain remains. Buying Expected Most observers believe. however. that both manufacturers and dealers inventories of goods are now sa tnorougmy aenaxea uiu suihwiiuii buying must appear In many lines before long.

In any event, the stage seems to be set for a revival A sus tained upturn, nowever, may not oa at once forthcomincr The buyers strike in the' copper trade tended with enormous volume of buying during the past fortnight, but needs now appear to have been met, and the. demand has slackened rather abruptly Copper rallied from 12 to 13 cents a pound, out nances oi iur the recovery appear dim. Steel mill operations sagged about one percent during me ween to oe low 75 nercent of caoacitv. and price unsettlement continues as a sore spot in this major industry. Prices of practically all products, from scrap steel and iron semi finished and finished items, have been shaded further and signs of renewed stability have not appeared.

The demand for pipe line and heavy structural materials continues unabatted, but farm implement, railway equipment and machinery manufacturers are less active. Automobile output has now reached a rate of slightly more than 100,000 units a week, and has probably reached the seasonal peak, but basic conditions in the industry are generally described as sounder than they have been for several months. General Motors Aoril sales report showed that deliveries to dealers were substantially less tnan dealers sales to consumers. Indicating clearly that there is a determined effort to avoid any such troublesome piling up of dealers stocks as resulted from the record breaking production early last year. Loadings Decline Freight car loadings as reported for the second week of May showed a decline' of nealv 9.000 cars from the firevious week, as compared to the ump of 36,000 cars shown in the previous weekly report.

The movement of freight, however, cannot be expected to show much improvement at this time of year. Despite the fact thai; car loadings furures this year have consistently held around tne levels oi or iuz, tne net railway operating Income reports ap rmarirur for Anril are showlnsr a de cline, of only about .20 percent from the like month of 1929, compared to an aggregate decline of more than 30 percent in March. Wheat futures rallied during the wjtpk rvarhinor the best levels since April 19, the hide market reversed the easing tendency of the previous week, and wool showed some re snon.se to the firming tendency In loreign maraeis, dui prices iur Only Five in of the first 4 An HE new Holland Station a now balaa oyanlaJ. Bond. Review NEW YORK.

May 25 UFl The bond market has put another quiet trading week behind it, making little progress towards, erection of the strong price structure expected In a penoa oi easy money. as in tne previous weea, me use vacillated and Its department has given traders little reason to hope for a pronounced immediate constructive movement. In fact. In some quarters some concern was shown as to whether the kind of market consid ered of vital importance to business recovery will appear before trading passes into tne usual summer doldrums. 1 The course of the market has shown the absence of a permanent stimulating force.

Prices pulled both ways last week with little gain or loss. Kanroaa oonas were tne oesc performers and many now are near the 1930 peak, in a position to establish a new top with any real encouragement. Intervals of firmness in most of the investment department, however, have been sporadic and have lacked definiteness. Privilege Jsm Favored Stock orivileee issues are still most in favor with investors. New financing last week was swelled by the public offering of $60, uuu.wu in me new treasury Dins ana the total showed the sizeable volume of $174,653,000, a decline of about $15, 000,000 from the previous week, but five times the volume of the same period in 1929.

A year ago the bond marKet was supping toward tne bottom of its long decline and most of the new financing was being done in stocks on the strength of the bull market for eoultv issues. foreign oaoaa were nrm in quiet trading. The group did little, but mark time in expectation of the German issue, of which this market is to get $82,500,000. The coupon rate nas not oeen aenniteiv aeterminea. but 6'A percent is rather generally expected, with the bonds priced to yieia a uttie more tnan percent.

The list lost its most active issue last week as conversion of the Amer ican Telephone stock privilege 4i4s was virtually completed. At the close of business Friday onlv $12,000,000 of the original $219,000,000 offering remained unconverted and it is expected that this small volume will result in a thin market for the bonds still outstanding. These debentures were the life of the listed market during the dull months last summer, frequently accounting for 25 percent; or more oi a smgie aay business. Jefferson Clinton Reber visited George Moyer and family on Sunday. Mr.

arid Mrs. Clarence Deal of Reading, and Mrs. Edward Reber of Lanaingvuie, visited Mr. and Airs, Henry Werner on Sunday. Mr.

and Mrs. D. M. Reber and family of Black Horse, and Mr. and Mrs.

Gordon Heimbach and family of Pine Grove, and Mr. and Yen Nev and son Daniel called on Mr. and Mrs. Charles Witmer. Georee Mover and son Wilbur made a business trip to Fottsville the past weeK.

Snyders Mr. and Mrs. Charles Kitchen and Mr. and Mrs. Robert Steicks made a trio to Gettysburg.

Miss Catharine Steieerwalt. for merly of this viciritv. but for the last four years living with her nephew, Peter Bower, in Philadelphia, ciea at tne aee oi bu years. Mr, and Mrs. Koenig be came the parents of a dauehter.

Mr. and Mrs. Charles HollenbacH visited relatives in Reading. Mr. and Mrs.

Frank Zettlemoyer and Mr. and Mrs. David Zettlemoyer, Arlene Ohl and Frank Zettlemoyer Mr. and Mrs. Alfred stelger wait.

other farm products generally continued to drag. Textile markets were dull, and cotton mills have sharply curtailed out nut. Prices for cotton and woolen fabrics, however, held firm. Such Plants the Country Holland Station near Easton, one luoer oreasure steam generating Mifr wmm HMitfflMl find Kllllft W. S.

Barstow St Company. Recently placed in operation, this station is an out 4 standing example of Barstow engineering, and of all that is modern and economical in generating electricity by steam. Designed for 220,000 kilowatt Curb Review Ninr vruc. Hit as (Ji The curb market was extremely dull and unsettled during most or ine pan week. Stocks developed a better tone late in the week, but the more active issues generally emea uw nerlod moderately below the levels prevailing at the end of the previous week.

ine average nays turnover was well below 800,000 shares. The oil shares were depressed by the difficulties in reaching an agree ment on curtailment at the Santa Fe Springs Fields to California, but rallying tendecies developed late in tne week. eucn issues at uuu, Humble, and Vacuum, sold off. sub Cities Service was active, out moved narrowly. i ne utilities were under consid erable pressure during the early ses sions.

Electric Bond and Share de clined close to 96. but this group rallied later under new leadership, provided bv Niagara Hudson. Ameri can Commonwealths and Central States. Niagara Hudson was stimu lated by renewed gossip in brokerage circles regarding tne prospect oi an early alignment with Consolidated was oi new xotk. Natural Gas Steady The Natural Gas issues held fairly steady in moderately active trading.

National reaoned new mgn ground, and lxme star and American were firm in response to disclosure of merger negotiations. Du quesne, a newcomer, was firm and rainy active. In the industrial and specialty divisions, weak features were Deere and Technicolor. Deere dropped several points tn response to reports indicating a falling off in farm Implement demand, together with some cancellation of orders, but was sup ported after getting down around izb. lecnniooior cropped to a new 1930 low at 51, compared to its 1930 peak oi 86V4.

out then made mod erate recovery'. The Pacific Coast Biscuit issues were in demand, rising to new 1930 high ground, in sympathy with the strength of National Biscuit on thej Dig Doara. Hygraae was anotner firm feature in the food shares. An interesting transaction was a sale of Great Lakes Dredge at 260, an advance of 116 points since the previous transaction, wmcn was in January. New issues making their appear ance included the new splitup shares of American Machine and Foundry and International Salt, admitted to trading on a.

when issues bassis. ENTERTAIN IN HONOR OF GRADUATE YOUTH SHILLINGTON, May 25 Mr. and Mrs. Paul Burkhart of Shillington, entertained on Wednesday evening in honor of James Albright, a member til tne sruauaifiiig fjiass ui xj ti Cocalico Vocational school. Mr.

Albright is a trombone player of note and is a member of the vocational school band. Those: present were: James 'Albright. Reamstown: Mr. and Mrs. John Haws, West Lawn; Mrs.

Anita Walters, Reamstown; Mr. and Mrs, Herman Burkhart. Mr. and Mrs. Charles Burkhart and son Junior, all of Shillington: Miss Eva Hoover.

Reading; Jack Boyer, Fleetwood; Harold and Bertram Lutz, Cedar Top; Ralph and Grace Sweigert, Akron; Miss Ida Bitzer, Epnrata, ana Mr. and Mrs. Paul Burkhart and daugh ter Arlene. Games were played and Miss Smith. Mr.

Albright and Haws entertained with instrumental music. A luncheon was served by the hostess. HIGHWAYS IN CUBA GIVE 17,000 JOBS HAVANA, May 25 IP. A bulletin issued by Dr. Carlos Miguel de Cespedes, minister of public works, states that 17.000 men are engaged upon the central highway, the motor road which is to span tne island from end to end, and on an aqueduct for the city of Santiago and other pub' lie projects.

(y li Holland Station ata compiated to i ultimata cap. Ktf NW A dty. i A ultimate capacity, it has centralized control, burns powdered fuel, and has manyother important features that increase operating efficiency. Our construction booklet, showing this and other engineering and construction projects we havf completed, will be forwarded on request. Barstow engineers win be glad to consult with you on any engineering or construction you may have inmind.

W. S. BARSTOW CC COMPANY, INC. Engineering Design Construction 120 T7all Street 412 ashictoa St. Nw YoccOy IWq Textiles (World News Sarrica) NEW YORK.

May 39 Cotton Tex tile markets remain draggy and ap pear to pe sunering irom ouyer disinterest, reports Textile World. Purchasers are Included to point to weakness in the raw cotton market and seem to disregard the factor of mill curtailment, which is now a definite During the past week some slight interest was shown in fine goods and certain wash goods but tne majority oi staple gray fabrics are very slow. Price softness was evident in a few centres. although most sellers were trying to hold out against considerable bear pressure. Wool goods "sales lacked sustained aetivitv last week, but an encourag ing sign was the tendency toward nrice firmness amone leading sellers.

jver a weea ago me American woolen raised prices on several active numbers in both men's and women's fabrics. To an extent this has been followed by other mills outstanding in nart of the branches. Buyers have been favorably disposed toward tnis action as ic serveu to remove much of the uncertainty appar ent for the last three montns. Hnsierv market improved slightly, there was a moderate soot call for men's and women's goods. Dull lustre hosiery lor women movea iignuy at the retail end; production increased.

Demand for bathing suits and other outerwear lines was strong, ttayon nolo shirts and Ravon berets were in spirited call, some mills falling behind In deliveries; $8.50 polo were favored. Underwear market was spotty. with fair call for ngntweignts; wo niece athletics were in demand. Heavyweignts were Dacswaro. Raw silk again softened, especially futures, and prices weakened 3 to 6 rentsi.

Tradintr on the exchange was hesitant and speculative, with little real confidence shown by sellers. Manufacturers bought lightly. Raw silk weakness brought a sympatnexic sof tenlns at the thrown yarn end. and prices shaded off; thrown yarn activity was restricted to sampling of Grenadlne crepe twist yarns; market tone was uncertain. Broadsilk mills were clearlne sm ing chiffons and producing fall samples; Shantungs were in good aemana.

PHILADELPHIA LIVE STOCK PHILADELPHIA, May 25 (JP) Live stock receipts for the week: "Beef cattle, 792; sheep and lambs, nogs, Dyo; carves, Beef catfie, steady: steers good to choice fair to good 10.75 all.75. Cows, good to choice 7.50a 8.40; fair to good 6.50a7.50. Bologna, as to quality 3.00a4.00. Bulls, good to choice 8.25a9.75; fair to good 7.25a 8.25. Calves, steady; choice 13.50al4.00 fair to good 11.00al2.50.

Common v.ouaa.ou. Sheep and lambs, auiet: sheep wethers extra sheared 6.00a6.25. Fair to good sheared 4.50a5.50. Common sheared 2.50a3.50. Ewes, heavy fat, sheared 4.50 spring lambs, choice 12.50al2.75; common to fair 10.00a 11.50.

Hogs, quiet; nearby heavy weight 10.50al0.75; nearby heavy weight 200 pounds s.oua3.2E. ITALY DECREASES IMPORTS OF GRAIN ROME. May 25 (JP) Italy's grain imports fell off by nearly 75,000 tons in 1929. The reduction was effected by home cultivation of 5,632.000 tons in the nine preceding months. DUILD THEM DIGGER AND FASTER! American initiative ts a seal With characteritl driving fore, a quick thinking, dtrmind America cencntrats en the vast transatlantic trade passenger and cargo United States Lines, has con tracted for the construction of two fast modern liners of 30,000 tons each to augment its frfmous transatlantic fleet of eleven ships.

These two new liners will be the, largest ships ever built In the United States'. advent marks an Important step in America's rise to the front rank on the high' sees. Investigate the potentialities of America's growing merchant marine and the United States Lines, Participating Preference Stock. Send for complete descriptive circular, which will be mailed on request. Price mt the Market lliUdonthoNewYerkCubExchongeandChlcagoStockEKchenge Coinpef deriptWm circular staffed vpori request W.

CHAPMAN GCUKC NEW VOWC 42 Ceer Street San tranchco to. 315 Montgomery Street 530 Waat Portland, Ore. U. S. National look Sld.

MlnneeeH i Pertiand, '50 Second 20t Maaenie Reqdliiff Market Price AT Witt mm vMnnri tm tfA! TOn TOAlt. pound. 40o to 4c; rump roast, pound, 4oe to round ttoak. pound. to.

foe; rump itnk, pound, 40c to oe: wnoin, stefe, pound. 40c to 50o; efcuck roast, pound, 25c to 30c; stowing retvl, pound 25c to 30c; veftl chops, pound. SOe to ttc; veal roost. pound, to Oc: real steak. pOUnCl, VUG lO KaWIOf aKrnU, pvuinn lArt a lmh ctaan.

sound. Soo to 60c; small lamb chops, pound, SOe to leg of lamb, pound, 30c to 40c; beef liver. pound, roc to S9c; can aver, puuua, vw to 70c; calf pound, aoc to pork loin, pound. 25c to 40c; ham (wholel. pound, so soc; nam isuccqi.

pwuu. to 5e; sausage (fresh), pound, 20o to see; sausage smoked pound. 20c to oc; dried oeei. pound, we to pound. 25c to 20c; lard, pound, 12o to ISc VEGETABLE? new potatoes, doxy sue; oia pmRuwi, pox, 10c; celery, stalk, 10c; lettuce, a head.

10c; raaisncs, a ouncn, oc i.o wuuiui box. 15c: carrots, a. hunch, loe: oeoDers. each, 6c; cabbage a pound. 5c; string beans, quarter peck, 25c: sweet potatoes, quarter peck, 30c; eggplants, each, 10c; tomatoes, oos, aoc; spinacn, quarter pro, 1 5c narslev.

bunch. 2c to 5c cauliflower. head, 18c to 35c; peas, quarter 30c. FRUITS dozen. Hoc to 70c: nlneanoles.

each. 35c: bananas, dozen, 20c to 30c; lemons, dosen 4dc; Apples, quarter pecs, sue; straw berries, box, 15c to 25c. BUTTER AND EGOS Best creamery butter, pound. 50c; godo country butter, pound, 35c; strictly fresh eggs, uoseu, ac. aThlr.keriat live weisht).

tvmnd. 32r chlckens (dressed), pound, 45c; guinea cmcicena loresseaj, pouna. ro; aucxs uve weight), pound, 32s; ducks (dressed) pound, 60c; squabs, 30c to 50c. CHEESE Cup cheese, cup. 10c; cottage cheese, pound, 15c; English cheese, pound, 35c; Swiss cheese, pound, 45o to 65c r.

FISH Shad pound, 35c; shad roe, pair, $1 to porgles, pound. 18c; halibut, pound, 40c Spanish mackerel, pound. 30c; Cape May goodies, pound, 10c; sea bass, pound, 30c; haddock, pound, 35c. MISCELLANEOUS Apple butter, quart. 25c; sauerkraut, quart, 15c; pepper cabbage, quart, 40c; mush, pan, 10c; potato chips, quarter pound, 12c to 13c.

Missouri co operative marketing associations handled business in excess of $130,000,000 in 1929 for membership of 250,000 persons, reports just compiled show. You Can Invest Out of Income i Ga aad Elaotria Company SI .60 Interest Bearing Allotment Certificate, may be purchated with an initial payment oi $5.00 and the balanee in S5.00 monthly payment. Full paid at $29, this Inveatmea. yield over Si. Invettmtnt may tt mad ml lit ntarat Amdafd Sjtttm Office Associated Gas and Electric Securities Inc.

'ftTt Office of Metropolitan Edison Company Reading. Pa CHICAOO II aJ MUt A4)ettM (tfaMt Ana.la. SUM Street Dante, M.rt.a I Me. HHewgh 90S Orent BMa Maine Hmw Orteent Temple Me. tern la ten S.

Leah) Orend elea Orend treat t),.