| Show "v t£4 MARKET BEARS UP DESPITE STEEL CUT Extent of Dividend Slash Comes as Sfcrprisle Rails Make Strong Showing July 28 (AP)— Tho stock market stoically faced the Inevitable bad new from the steel corporation today although from the slow upward drift by leading share It was apparent that the news was somewnat less zavoraoie than had been ejroeeted The market had been well prepared for a dividend cut some quarter! be lievlng the rate would be pulled down to M but the shrinkage of tec- ond quarter earning! from opera- tlons to only 6 cents a share on the preferred was a dismal commentary on the low estate to which the de T at a Market Glance NEW YORK Stocks firm market awaits steel dividend action Bonds irregular German la- -' dies firm Curb firm market dull Foreign exchanges firm "hitch guilder at new 1931 high Cotton lower: favorable ireather hedge selling Sugar steady steady spot i dtuatlon STATE HOLDS TOFUNDORDER Per mlt Thrift (Br lh AMoelaUS Frits) HtW YOUK Jul! JS— rollowtn is tho complete florins lift at Tuesday's (ran tctlont on tne New Tort Bloc exrrnpto 'osirs in nunarensi AllMhanr ao via mo do pfd 140 v Al Cntro Pro Amends Am Bank Mote (do pfd Am Bott Sutar xdo pfd Am Brake Shoe Am brown 8 (1 xdo aid Can Am l?'i 'i High 1929 Low 1929 dSV !:::::: men ao Int Nickel Canada tint Paoer 7 pfd Int Paper 4s Power do pfd xtnt Ry O Am pfd Am b 10D Am Wat W Woolen o pfd tteivinator Kenneeott S 8 Kreueer SrToll rt l M! 31171) Lehith'Vt'lley 'coal"! Lenman corp Llhbey O Ford Olati Lltteit Ss Myers B 1171 ii :vn Lily Cup noma uajDonio Loew Brown Shoe gruntwick I the following: 16 The total loading charge Includ11 selling commission is not to 33 ing the 56 exceed 6 1 J per cent of the maturity vama or tne certineates JS Th company must agree to create 34 a trust with a bank or trust company wansas crrr Juir as (Art— Produce selected by It and approved by the UUwiligcd commission which shall act as do CK7CAOO July 38 fAP)— Poultry tit' poeltory for collateral or property fowls 18tjlc trucks: tadr tl is to consist of Sens 33ei friers 34c sprints Jc Such collateral iprlnf first liens on improved Utah real es renters 13ci turaeya lSlc: dufSi oTer t"t pound whin 17C tate to the extent oi not more than 15o: tprlnr seese 14c Rutier— Recetnti llSTf: firm Creamery 60 per cent of the fair appraisal value (HI acore) eitrat (62 of the preperty The Hens shall either 35i3Vtc: tprclali Who: acorel firata (M-eilra (6- eoore SlellJo ec be amortised on a monthly payment iJiSHei firite of straight imrel Ua0e atandardt enrtj plan or If they consist centraiired earioie stre loans shall be for not more than five f'irmi 1783 f ti fttoep'j prices tin without material reduction of years F otlo'et— PenelpH IT: on traek SSI: to tut U H ihiomenta SSi aoout iteady the principal of bonds which consist It may Or tradliif rather tlow: earked per cwt Kanua Mimoiin coonierj iiiu liii for savings are legal investment t Shore Vlr banks and Trlumnhi ti m: similarly regulated institubM csbMera ttMH Ml fair to poor ! 3 in) 25 f mures: Idaho Rmeett Os tions In Utah sties flH Or the collateral may consist of KRW YOFK July SS f A SO— Butter— R stocks or bonds listed on the New hither firmer York stock exchange of at least 'BAA" 5I8J Creamery Hart i 14 iis - riov1 ei- UaeAnd As Poro xdo pfd Mack Truck Maracalbo Oil Nirmc8 Midi R pr pfd Mark damn hocx armon moi Marsh neia Math Alkali Ul Bid T Mccall McKeeaoort T MeKest At Rob A"!!' 301 34 tl (M-B- 7 f-- extra Hvf"tOi extra (H arore) SnSAVo: first acorel 13Si341c Cheeee— Receipta SU401: ateefly 31131 : firm Mixed eol- fira pacaeo cioaeiy aeiected neavy extra JJftJUr: flrt J(iJ0i4c Paclfio eoant Biedium flrsta H'jSilTe treated extra S)loVi extra jiute then tlrnU 0 39! ehlrkeni freah Poultry— Dreaaed firm 7i ssc frn-- n jjntllc: IoU freeh or lejjieI8f Live irreeular Mc: by xorea broiler IStlSIc: or express lltiMc rooeten irnaen freirht 16e eipreei loci turktya freltht exsrex 19t3oe duckt freltht PWANCMCO f Al Market July JS (AP- I- Pederal-''- e Net wholesale Putteri-- M aoore JSc: ft score I7ei SO SCC' i'-- c ruse— United Btetes extras Urse iniiiim W'io! email 13e Seat Service Ue lteote— tiata 1 Vic --— --r Local Securities rating according to o Diam Plb Ina Mot Can OU Dal I Bharet tss Ph jtp ji: Radlo-Kelth-- O riaybestoe-tta- a i " 1JI43 Rij Oran Oil Rpyst put n fer aim Vae'tii':":: ST "iiUnental National 11S00 lijOOO 22S00 l(rl j t$00 17 7S 111000 1) 00 Am Founders Am Tel As Tel 3 1 S3 su ihl !1 tv coirjb TrUMon VJien ai is J8 14 ini ta 1! 5t looit 88 - SS j shares i i) ja ons 43 f 1JSH 108 SB M 44 uuiflti BT ly4S a Eaet UtlTfnv St 84 A tleo Pow Sc Lt Si 3030 Palbanks Morse Be 43 m era water PI Pow St Lt It 84 1- luit J 'S IBArf ih FRANCISCO 28 uD— The Western Paclfio Railroad company's net revenue from railway operations for June 1931 was $64408 or $103799 less than for June last year the monthly statement of the company said today The net oper ating loss for the month was $5265 or 1108978 below net income In June 63 1830 The net 793 In operations revenue for the months of this Year was 489the red or $8623 below the net first six ?ll 14 July - for the revenue first six months last ye The net operating Income for the first six months was minus or $84430 less than for the first six months last year A a imi 30 UK OSIi Kan I 95 3023 A 8f 13 1 an Is $563-61- 5 104 13 101 3M 'A 101 111 88HJ 104 Co 49 R Wsbjh do pfd A Waldorf Bra V i 81 lOlVi 104 so 9SS 73 107 Vi na iia SO 1! f JtW Penn FI io 1 trio S xW Penn A pel pfd pet F 8 pet Westlnth Air West SI Mt Westvaco Chi Willis Over Wilson A Woolworth Worth P A M 41140 1 3 33 il0Va V 1 ST! ioiin SO 401 V Wrltlcr II JO'lOO in lo JMd West Dairy B Western Msrr Welt On Tel 14 -- SOI pfd II 10 117 f T7ero Trk T pet As — z—T lonlte Prod Yount Sh il is 41 30 881 S es !?? Jr Yell xYell V4 30U1' pfd SH 43'- 43 lit 31 13 100 10 no vtv FAtSHS 104 1104 SV ST4 47 73 47 8 431 S 43 Vt 43 1 7 XActual kaIps lotai salea luenrisj tTslls ehares: pre1134410: dar SCJIO week rear ato I8-wJtwo rears ato 3SH1-Iv- fl JannarT 1 to date 81355100: year two rears Ago iS&3S0j0 to vious t3ig20 ao Vcunm 33 10014 84 87 U E P A Ii St 3038 A aw SoOal Gat 5s 8 7 4 'is 81 to CalCarOas Pow St 17 - 1' V' South Oat 8 'is 1836 Pow' to 87 South Lt Pow 4'i 7 Alumm Co Bs 83 Alumln Ltd 5s 48 Am ComwlUt Pow 1 5J do SS 40 7 Hi vi 074 r 7 944 sa 96 83 5k 44 'A 105 100 9S Vi 8 183 Vi lino II tl 331 89 lilOOw 41 e 5S T - 50 m 70 83 104 91 107 V ?J 70 48 P 71 is 4T ni Cent Bk Oer Ss 81 1 t nne Nile Bt es ti O Priv Bk 5Ss 37 Danish Oon 8"i 58 63 Panslt Fort Den Mtt Bk 8 73 IX 7a 44 Fin Ind flnland KM Bk 6 81 ess Oer Con Mil do 8 47 Oesfuerel Ss V (S 3ilQV4 lMt 104M T 51 7i4 i'a BVi 8 4 E ST-- t 61 74 uuaa a 53 west 47 re ssi rr Ipoi aheat-Auntrt- llan 78 'em Beta 87i inm' 70 701 70 85 74V4 54 f? a 66 No S v v SSC if f i t f No ' t 7t a 84 34 53 9! 7i II ss 31 41 i ss 34 61 65 ii ss 79 as- 79 se'J 43 a 44 44 48 3 101 101 41 7a 34 xw 40 conditions In 61 88 ta JTas 71 4 iw Pew St 81 A sw Si Mendoaa Pr Prust El 6s 64 Ruhr Oaa 6Ss 53 A Saarbrueck 7s 88 so it Sup do 7 II Whett rinse! fnv nlnK 61 Mi 863864 '680 present demoralized oil Industry Stlnne 131 $ NEW YORK July 28 Arnott president of Vacuum Oil company said In a statement today that the) billion dollar company to be created by the merger of Standard Oil company of New York and Vacuum can help to bring order out of 861' I'liu'iosaici 1 - Vl ' SUQA UNCHANGED N3TV7 TOHK July 38 f AP— There ess no chantai In the raw tuear market today but refiners were showtny more Interest Bale of about 70000 bate of Cuban front store and ter AuiujI arrival and 54000 bant of Philippines for September arrival sr confirmed to reflnert all at th 355c fluty pai a level Thero wet only a small trade ! futures and after openlnt partly hlcher prices re acted under commission house sellini wltht tne marsn ciosint 1 to J net lower The openlnt wu steady atpoints unchained to t anrT a llttlo Int advanee on coverlnar rade buytnt probsbly atalnat recent sale In tha apot market Th demand aa not aSKrestlva and tha fact that offtrtnts In the pot market at previously paid were a Utile more liberal seemed price to restrict fresh or agtsresttlvt buyins and cactlons followed under liquidation with I final prioet at about th loweat of ths ses- - f on v uiiihi torn cnsnara slon jvii to nanat witn tne triat apparently lncin ied 'tf 88 A Hamburc El t"4S S7SI IVi Hanover City 7s ionium1 Isareo Hyd El 7s 8SH1 Ss It Hleh 'eeaAaayVsya l B s li An Suen Alrea Pror Tt 63 11 4 POOL Jill 28 (API —Wheat e1ne— JuTySS wo: Octobet tlVksi Pecembei ii'iet 4t( ths the Ot FOREIGN BONDS I8ales In tinnoi It wiNNir-e- a July 88 fAF)— E 101 tt 18 t t limit fresh commitment and await tie cember and Jtnutry 14Sc: March l58c loaHinii 1(10 stay i pse ana juiy ino t A fair wlthdrtwal demand wat reported for refined and prices wero unchtnsed at buslnesa 475c New fine trsnulated for 94 was llaht with some second hand smart loo 48 sale) to be available at 4 6oc 10141 101 bt 99 BILLION DOLLAR OIL MERGER is Ulen A Co 6 44 Uu Ouir Corp 5 58 Un Lt A P 6s 78 Ktk At KL On Let A Rr V'Va' i' ! 58 A Un Let ft Ry U B Hub IS 31 U 1 Rub S'at 38 --V- -- " to 75 48 37 Van Camp Pits Si SS Van Rtter Sa 3ft Virt Pub Ber Sa 48" s t A oo Waldorf Ast 7a B4 West Newa Del Ss 44 west Pa Be 3030 West Tex ytil ts 57 A wise r ti i it OS £ ten n Stand Inv i'U 88 ft and P L 6 87 Stand Tel 84 43 7s llH-- 104 BlattdaScXStBl Oil crrr 54 Manitoba ei Souweel o'si' E 8187 A Houwest Net O Sa 45 21133 A Howeit PS L aijina o ss E et ta Wenden Cop Mln Westvaco Chlorine Pr! t rt I Ml ll'tl U Woolirortb Ltd DDMrfiTIO Balet in I'l QQ0) Ala 104 'SH : Asrl Mtt Bk s r uvEsrooi BOD 8 do 33£33'tci Ootober it 67'5 December 84 Cash wheat— Ne 1 sorthern 68 He: DvruMssa ovne no t nonoern 37i lO-4'- 24' 78 MINNISroUS PulT 38 f AP1— Whssfc— immKAPOLIS 160 cars compared (0 105 t year Rectlpt Marnet itii'40 lower cssn:- nono i flarit nortnnorthern I Der cent uivlciii ui w IlliOe VSUi 14 per cent protein STif rm'iC IS per cent protein per cent protein oiiea'SiTsc Montana 14 STi68'o No 1 darkis hard per cent protein 54lic: to arrive B4'ic: 1 No amber durum 65958c: No lumber durum 84®57c: No 1 red durum 47? 48a: July 841 eeptemBtr SSTac Pectmbtr 64e Corn— No 3 yellow 800 Sle Oats— No 3 whltt 31146330 Barley— 3l49c Ry— No L 33ts38e Flan— No 1 31871 £ l0Vfc iuu Pep Oat St A 46 Roch Cent Pow Bt 88 St L Oa A Ook Sa 47 Safe Harbor W s 4 1 Shawlnt' "sVp's'i 7 31 11 100 1" 88 I" 14 1 rI 66560 Mo while 1 Whit xsnsai WETNTFBQ slioott Queens Boro Oas 8 Vis IV N 3 Jul do Bt IS A M5 f15 - 11 Ar at w Proctor A dam VvlVW Pub Ser N III 4Val 78D Union Nat Oa Cn United car rest United Corp war Unit Founder United Ou do war On Lt tt Power A t HIV? UlVi U 8 Eire Pow a I u B nie row war 13'4 U B Foil B 1S' 11JV 117 United Verde Ext Universal Picture 3S 19 4'i S'4 mtlltr Equities mil pow tt Lt i e Utility S Indus 34 24 7&I Warner Pict Wsrren Pro Wsrren Fd Am P v El A Mi' 714 - ai in edm Potouiao Ed 10 17T t S3 344 (iwit' iue Coke 3 Sun Oil 5 Sun Pin Line 5s 1540 superpow III 4Ht SS Tenn Pub Ber St 70 Tes El Serv St SO Tex Oas UUI Se 48 Tex PAL 5t BS Thermold Ss 34 Trt Utll 8 7 -- 8H 104H 1O4HH04H reSpnLSBUw oa Mot ts ': Pae WeatTbl)Ht 43 Penn Ce PAL 4 Hi 77 m Dahh VI A Penn 6h Yti 5V11T Stmt 35H 38 34mci p:o8:in:os:: Pat F Slit 88 IS 33V re KANSAS rjTTY July 38 AM-W- htat Pit 341 tars: unchained ta 1 lover no 048c: No 3 843K6't4Kc dark eara 1 hard 41U&46c: No S 414!fte: No re a no t entmisc De Close July 43 Hoi September oember 4714C uorn receipts 33 can: down lftlHcj No 1 white 4'948'ic No S 48e: Ko no 3 40c: No i mixed yellow II He: No 3 nominally 47a4Sc tioao: juiy 48c: eepvemoer 4SUO 45Hc: December SOWa cars: down l fo I oats reeeiDis white 33 34c No 3 32a ny — norninau utxttc Bar Ley— JSc rae uas 4iSl4Ml871 SS '34':l 28' 38I BelUM7J3 I Oil Ine Land Oata— (New) No wrilta siiftjTc Rye— lo 3 15s '' 78 ' Ohio Edison 8 SO Ohio Pow to 83 s) OtwtSo rails St 41 I'it-wi:- J3'4 334 Lard— 3775s B"tte'p'VliSl U Tl 38 w So 38 BarlAVS4(W&fMl eeed—tJ78fl4IS-Clove- Nor Nor Te Pu B 43'! Timothy Nat Pow A Lt Bt fait A Nat Pow £ Lt Bt 3030 B Hit Pub Ser Sa 71 Nat Steel to BS net lea s St 1 5s' 50 New Ent O is as new tns New Ent O As X to 47 W Ens pow BVt 84 4? i 43' 48 'i'Ai S7i89Viel low 67 Lt rtoaira ee n isoi Phil El Pow Btt Phil sub oaa 584 68 CASH QIOTATIONS CHTCAOO July 38 fAP— Wheat: No 1 No 3 hard red 60ft5'OHc 60estmc: No 1 north No 3 yellow hard 48®48Hc ern sprint 50Hoi No 3 mixed 48450c Corn — No 1 mired iTi67V4ei Bp i Bt 4t Vt 80 61 48 September 8 El Pow 8 55 July Mis Bl Fuel St 44ww Mitt Pow k Lt t 81 Nt! 50' 8414 33 September December Lard— 50 55 J4'I Ry— 3 504 ATM July 88' S 4 t Septeirrber oecemoer September October Belliaa — P9K tt - $50 July 102 09 ta 102 - x Nlaa Falls Pow Sa snJ Nor IndJPob Berv Nor Oh Pow tViet& I Thetcher Beo Trnfiennt Air Tr Tran Lux P Plo Tn wi4iuies noiao diiai o win Rta Nat Oat Tuns Sol Lamp 101 Vi ufttni -- Technicolor Texon Oil m 1U1 B St 30M A Ltbby McN Sc Lfb Bt 48 July Close LoW 51H 8 corn— patJuly 1UU Meal Oa BiTs Memphis Paw St Lt decline to 38 Hleh Julf September December September Oecember 88 SSi 69 a 87 94 T 103 U lOSTi Lehtth P JJfdwesfiitll Mtlw Q Lt It Btl uu a OHiit f ez S3 85 n rests Dt 4S Kreste Bt 45 D until 104 BS ieyeton pan Ber Bt 78 50 op Gat op u bi A Oold 104 104H 8) J Jersey Cent P A L cents from 3 RANGE Of LEADING rUTURES V": 1614 Salt Creek Ball urre rroa Schul Un So II 8t SeaboArd Utll Seaal uoct Beleoted Indnst au r Fu Sentry Sat Control BhaciucK ueiin D Ai P ehawlnlc William Rttrwin Solar Hef South Cal Ed B pfd Rouin cal Ed a pia Southern Corp South Penn Oil Sole May 8 Pfd Stand Oil Ind Straus Nathan) Stuta Motor Am SunxAT cent wneat— Insull Utll Inv S 4A a Interl Pow See 7s 57 B uteri Few Sto S'et 531 int BaU'ss 81 Interl Beo Am Bt 47 Inters Pow St 67 Iowa-Ne- b Lt Ss P 6s U varrlns gam vision 49U 48M1 111 Pow Lt la SS"fT! IUrow SB U St 83 A wi 7a ei a M 17 r" lem uuu et vt t ss a Krsrsd roods Ss 41 A V41M ri f CHICAOO My 38 fAP— Speoulttlve de mand tnr wheat faded to almoat the vanlshlos point today and price duplicated iti'"v 1 all time low record of future deliver! ton h tract Corn and oats outdid SOW cents this nesaAn'1 hnttfim Drtra levela Pulllnt if O the prop from under til cereal were lndl cation ot a break-u- p of tha heat and drouth that totether thrsatensd to wreck llkell- 1831 bumper crop of corn hond of c lower corn Wheat closed nervous vgr-e1 H id 2 hi o dnwm oats H t 1 c Of f and pro- 89 84 Po'w'et'eS a i 4V - II i 11 Grain Market Pow Bt S7 a f - gains Oattlneau Pow Ss 41 en Mot Acpt'os'ii? en mtayon ot tt A Vet shares on 8ervtce McMarr Stores Standard Oil of Indiana and Vacuum Oil were active Industrials to close with fractional XI Pow Sttt A Denver A s T ! sn 1 Pet lot Bridie SWi 831 1968 ink d 140000 aggTeg-a-teprevious minimum total session since records have sales The number of Issues traded was small said total sales oi many of them consisted of single small transac 1 tlons Even amoni such lew stocks as ex perienced moderate activity the net changes were narrow The tone was steady to firm American Superpower Electric Bond & Share anof United Oas new stock gained fractions and closed at the day's high levels Cities ' service comparatively epeaiung was active within narrow limits and lt closed unchanged as did Central States Electric and Central Public Deltwtrt ISO ? ft Oontum yow'44i89 Coat Oat as 8u SI 88 2ib 7S ? The full (or been kept wu 146475 Inlv ft 19211 J 8Vi when day SjlMH 13 i i ' curb NEW YORK July 28 (il-exchange established a new low rec- ord for dullness tor recent years to 81 uomwim Eait t uo tns e da sui fi Oommunlty Cons Oss Blt BHS Cons Oil Bait 4Ut "ons Ou BaU 4i i'l ' on Oat Utll to 48 A Oa ut xvuitaa utuu 60 Ber Oat 81 reat dorp Western Pacific's Rsoubllo Reliance Manate Reynolds Invest a h pfd Revenue Lower StxitochAnthonr Cont '4 q Cl Elec Coil"!!!!! 1Sff Un unit rrmt ee Unit Oaa Im ao pr pfd U 8 Express U B Orpsum U B Ind Al S Leather 8 Pipe do 1st pfd TJ 8 Rubber do 1st pfd D 8 Bteel ao pia United 8t pfd Unir Leaf Tob xUnr Pict let pfd UtU P A Lt A ' Vadsco Vanadium xVa II A P I net Dfdl i'-- rM°mA 7 mnderwoorj 111 union on Cal Union Pac lln Tnk Oar Unit Aircraft do pfd tlnlt Carbon United Corp F!e ui'i Bt Oil St Oil N J iiS Bt Oil N T MS 6terl Beo A Bitwari weru Stone At Wok gtudebikef Sun Oil Superheater Tenn Corp Texa Corp Tex Oulf Bui Tex Pac OSO Tex Pao L Tr The Fair Thompson Btajr Tlmken ReU B loo frod do A Transamerlra Tr! Cont Cora tl S TOnlon Carbide Investment Trusts o to r 1?! oo evi pi rtlnitiel fjr 1?3 ttliiduan or BfA MI17S14 Adoipb i Andre Pete Gold Dim I J i"t Security Corp SU0I Ansonm Com do rm I14SO0 11100 Psvlnts 1101 i Bieelow 8tn !5 T ton state National At T 21000 ?ooo ' 1' Kst u Eleo Otwdyear flrt 111 345 V4 :er Bn Ml ttson inoee i 1) on 1 I' Oothjm Bilk Hot S5 15 t bmoloyers Oroun ji Savuiaa St Trust 12 JO 00 100 Mm 4 voupier A i Oeti I'lectrlo sit "ntjia Orahent Paita 101 S Oranby Con Mlnlnr ) Ollchriit 0 Mast mil Grand Bllver Store! 134 3 New Em TAT I34H 100 IV yrano union North Butte Oranite 101 city Bteel Assn 13' Ot Northern t lK 8havmut Induntry eharee By pfd tol 30 c 30t Ot Trust sharea xd 450 100 Si one At Webster N Iron Ore elf 101 45 45 iv-- d 43 Trust 50 xw 1J eharca f do Torrlngton L'n it ed founder 5ti 6'e 6 l Qrttsby Orunow series B xd 1075 H MS 871 J"xi d Trunt Oil shares United) JTu!t Mach S7$ Print 33 54 United Blloe J Trust shares td Ti it HH xHann pfd l-versified Iruitee Burs A 1475 rjtil Hrdro & Ralls Uartroan A a 1750S fbares sales TotAl do B Tueaday t c Hsvet Body 4nv4j ! co on d vou ItAILBOAD IABNINCS xHerculta Pe ffd soo 50 fiirdaniental Tr Shrt A YORK July 3t (AP)— On ths basis Herthey evt pfd An H Unv Hollander 1 ratl-roaof received class slretdy report Triced Shrs Irw y B B!0 arc estimated to have had net op- - Hourisllle-Hershei'le Becur J t 'n-SSS'4 Household Fla pfd ol70-Oo- d a mml Income of approaimatiy fratms Indnat Phw t mt':tinl 1 OU 9 fST4 June of 34 3 per cent Houston decrease tn Am Trust Snarea bo do new IW from 6ttiJ475 reported for June Uat Hupp i siri Am Trust fcrirs as Motor 875 year j Cent rued Tr S1J4 n wtih Carrier eompsrl-sotoday reportlne t ' Illinois a it Central onrt i Ine s5 riea last include: T year wlih Industrial Raven 1830 Intersoll Band 1013H ' l' 1 UHanlteRhrtPoTr A Burlintton xTnland Steel J675V CTifi-tSH7ll73SS0 Inspiration Copper H QulMcy ti357a 713'4 Dlinola 731 Una Central 1713036 insuransliarea Del 75443 oo rta Southern Hallway S4ei'l rurrr ant wops New lor Cmlral ISJ371J5 Interboro Rb Tran J7ls'i4 ? YOPK July As WMera (APj— Dried fnilt Norfolk Carrier Ltd S6o3SjI:h j p tttadr aivevued fisure tun int 'ret National Savings nt jot ( St L Bsn Ft dd pfd e et L BaUth Arms fjavase Bchultd Hl Roebuck 8ar Second Nat ln SMieca Cop Serve! Ine Hiiere Dehme Biiatmrk sneil union Simmone B nclatr Con A In pfd war 8ly South Cal M South Dal b Southern Po oo K BUg xdo pfd outtierri HAll do ofd A Spalding Soarkt With gplcer pfd A Spleeel Mar Stern Stand fkand do pid 8 O Jam 88 so'c uiiiet ear ss ss tti B Bay Ton lt 1 Real Silk Remine Rand ftepuk Iteei as evt Remold pis Met lltOly Boston Stocks I 31105 n do ofd Ut HIth1 Low ICloae 7'S 34 : fa-::::::::- l't BANKS m Redlo JL 8tc 3 mm it ill n us llorrm rresseq Bt cur Procter St Oam tt Kef ub Ber N J do 7 pot Pfd do I pot pfd A Ber X St O II pid Pullman INDUWRIAta T''i Ptu 10 TSUI uban Am Sui ' s Hi Value's Holds 81 ChW plst El 4 tts 79 A Chte Dlit £ 8 us 88 S ations of only $280389 equal to only Hudson Bar M & 8 r cents snare on the preferred Oil Canada stock on which the regular quarterly Imperial Imp Tob of Can dividend of $175 was declared To Induatr Fin ctf 38 'V Utilities find smaller het earnings from oper Inaull li Intercon Prt ations than these the records must Intrrnat Pet B be searched back of 1907 to the early Inter 6af Rat " Inter Utll B years of the corporation's history It Inter Utll war )4 Utll pfd was lounaea in ivui jtlnter Pow ot The corporation had a windfall dur alnteratat uei pm Chut wr ing the quarter however which it was Irvine Air SO able to report as special income and xKltics Co Lt pfd fS make the final showing considerably Holater Brande better This consisted of $7160866 Leonard OU profit from tha recent sale of the Lerner Store Gary Light Heat and water com MacMarr Store pany It brought the final net in- Mass utll Asso i come for the quarter up to $7391355 Mavis BottUnt A Teler Mar Radio equal to 12 cents per common share Meets Mach alter provision for payment cf ore Mill Rt Pet B vto Mid Royltr evt pfd) lerrea aiviaenos Mia w ew ee utii Mid West Utll Net Income Slightly Larger rrnttea uHlmri Fuel Bond ft R1V TncludlnaT this 8 Dedal Income the Ml Mo kao Pipeline net income was slightly larger than Mo Ken PLB vto mat or tne preceding quarter The Moss Gold Mine total for that quarter entirely from Mountain Prod operations was $6304919 equal after Nat A via BtoraS ftm preferred dividends to only 5 cents Nat Nat Fuel Oaa per common snare - riat Anveaiors Nat f St Lt S pel pfd The showing was but a fraction of net cud ear a ' that of the corresponding quarter of Nat Service T See A iwu nowever wnen tne corporation Nat ShortBros sNelener reported net Income of $32126717 or XNew Ens Pew pfd Hwmnnt Uln pfdi $3o a common snare These earnings failed by a wide jM??ets$'pct tit margin to provide for the reduced Nlae Hud row ao a war common dividend of $1 and lt was tflBlasinc Mine necessary to take $T 617858 from sur- Nitrate Corp plus to provide for tHa payment The Nom fciec erdon Ltd corporation has not earned its com lor Am Avla A war mon dividend lor three successive for European Oil States MP (North quarters sol pid On the basis of current conditions a cum pfd In the steel industry the corporation" Ohio Oil vriHIn PnoJ nffl is nor ejcpecieo to earn KB reduced xonia pud ser A Pia 301103' dividend for the third quarter of the Uiitooara Motor Ao Motor year Nevertheless it reported Cash UutDoara fc and marketable securities at the end Pao O Si SVit Ptd Pandem Oil of 930 exceeding $197000000-an- d Pennroad Corp can maintain the $4 annual rate for P Me rue some time regardless of whether Petroleum corp wr PhlllD Morris earnings pick up It Is reported on Phoenl Beo Phoenix however good authority that the Plymouth SecOUpfd management reels that a corporation SI war of its size should maintain this figVltll Hold ure at $100000000 or above con hh xPus Sd Pow S pet pfdl ' xFur on pia stantly Belter Poster 'nilllPi ' ' Mile Flour orto R Am T B uban Cane Prod uban Dona in Cudahy Pack FUb recognized man- uurtu Ourtil Pub Bftl Ourtus Wrlrht Bank Stocks J BtO a 3 Trader Confine Deals lo Few Issues Market 4a ruiitiu sir SETS RECORD"4 The Caterp Trao St 88 t81 J I JP 8 5ul Cent III V S r'el Hi V iem Cent Pew Ss 17 D Cent Pub Berv SVil 48 1IH xXast Oat e fuel SS pfd East State Power B Eleo Bond Ss Bhare do pfd Electric Share Emp Pub Serv A Employ Kfinsur these deductions with deductions lor interest on bonds ararmur H there was left net income from operHap Candy St Alter f N H St K t B Corn Prod Crosley Rad Crown Zeller irucible Btl lyult iureks Central''!!! Paclfio OAS pacific ::::::: xcae m Packard Panhand PAR Param Publlx art s-- Til athe Excta Peerlot Uoi'' ' Penlck At Ford Penney J 0 do )Id Penn R R tro Corn helps Dodt hlla Co pfd Phil It O A I St' Palrbtnkt aloe I mtiK July is (AP)— rollowint ere red It A Tr 1 Bid I Akrd thaKrw hirt and aiaed atima one oi new reri Fed Screw Wal Pederal 8 Tueastocks traded trust A-company bank and Suaar common I 90 Federated D it pas'sgo pfd dsy on an 1500 ' Pid P Pirelnt Waion BANKS Cilirtacerl IW XFllen't eons Pf i ivaxee Telephone 14160 14700 Aslietj1 Plrestone X k JS t-hramrn-Johnto- o 10300 101(10 pfd do- - tfd 40' 43 I !i Fire Clay 6000 0000 America)National Pirst Nat It Oea Coke lal pfd 7300 1400 Chaae Plsk Ruiiber 64 FhinlX V in Chatham A) com 31 6uar do !ff 7 tto p(d J35 Commercial j"! Poster Wheeler 1500 National Refining First 4 fill to 100 ft tri Fourth Nt Inr 60 ISO 00 ihooo Manhattan pox 71 piia a t 'r rower Cement f pf di !oo' IS 00 Nulonal City SO freeport Texas VMrt 750 SUM pfd oo i ptd 104 W) 100 SO TRI'ST CQMPAHirT XOametvell V M I 33 50 31 00 M Oardner Motor Ranker BONOS Oeu Am Tank i'S Brooklyn Trust 3Oeneral Asphalt A eu r In 19J1 Oentral Hanover 8500 ':tr 48 Oeneral oo Bltlnt Ci'n Bids is I05J-J- 4 loaoo Chernlra! int Bronte so oo rt'i'i general Continental f 'ft Von It 11U4 SftOO Oeneral llectrls hi nal Creamery 7a esoo Cora Eachante titm do sol 45 oo Otd'H Ky St 1M4 Empire 1100 is ti oeneral Foods 43 oo oo II i Poc y Ml Petit 1000 Guaranty S3 '4 Oeneral O A 11 Jl'4 Irvine oo sooo f miner Val a H 1SM-4- 3 ? 44 fc tptoe Llvcfiock Manufacturers 1 10 00 "!00 143 141 New York Trust 15 00 Ulah Ry et 1300 r? Tt laice Term ea IMS us oo St 00 Oeneral Motors SO 00 T"ilurnle Power 6a 70 71 00 Gas Ac Coke Ss Itit M 00 tien Oeneral Outdoor aWa OO Ss 1B3S 0 00 10000 KOen Prt Ink p(d w 41 00 Sue 6a 1933-4- 0 0000 V Oeneral Publn Service T 'aii I nht Tree Ss l3il03 00 10400 3S AP)— Pollowlnt ere the BOSTON July a Utll Healty h Poaer Ac U ee 022 Ami 00 10 00 jenerti sales inert low ana prices oi stocks jr-nirirtnr B 50 do 4la 194 H800 traded Tuesday on closing the Boston stock ti- - On Theater llOO 00 tq V fl'ft Bldt mn lf49 105 00 change: QlUette Safety Bat I 10 ' 3' nt Fllntkote A Ford Motor Canada xFord Motor Can B Iiio'h'Iik) S4 J Ford Motor Ltd Foramoet Fabrics Found Foreign A Fo Thetter A fieri Allora Oea Eleo Ltd ret Gen Theater £4 cvt pm Olobe Undtrwrtt Seal Electric together Gold Goldmen Sacht year 34 SSOllOlSI 100 oni nil Sontl Contl 37 n a vii aa ww IN T Steam ST pfd iworenaa Mines Norfolk Bou North Amer do pfd No Am Avlat Northern Pao Ohio 6ll Omnlbu do ofd 15 A Bat J'JN Y N vont rum Cont Contl - Harlem ti T Investor xN T s uals Or of other securities approved by UO A the commission Davison Chem W The collateral must be in amount SDel Lack Mat pfd at least 110 per cent of the surrender Mines Dominion St value or tne ceruiicate issuea The commission requires quarterly Brut Inede Nam state more reaulre and msv frequent do deb mente of the financial condition of ffattman the company on pain of cancellation Salon An Kod ee of the permit if the statements are Sitlnt Bch old Eleo Auto 1 not forthcoming The company binds Itself to abide by such rules governing companies of it class as may be adopted by the Ile stor commission after Its present consid- Kleo As Lfusl ltd eration of the whole question of rules Bndloott John and regulations for such companies ttt Jot Pub Offtee N T Coni Inreet Tr "t exit ofd ado Ooml Boit Uomwealtn Bo da nrd Sontoleum Ka Container SO Nev Con Co) Newton Bteel OAS oo pro Oonsol Oat do pfd Pet Mld-Co- Midland 8teel xmu ai ivy pi Minn Bt P Si S 8 Mpfl Monawx cue Monsanto Ch Monttom 'Wrsl XMorri M Motor Wheel Mulllnt Mfs xdo Pfd Murray Corp Nash Motor Nat Bell Hess Nat Biscuit R A Sat Cash Dairy Pr xNat Lead pfd B Nat Pow p Lit rial oteei Nat Supply National Tern Chrysler A eb Oil Mex ft Chllda Co OO 1? IIIUO" 48 Asfoa ea A B 8eH ?e?CanBB Blrmlnth l(le Copeland Prod Cord -Corp Crocker St Wheeler Crown C Int A Cuban Cane war Glut Mex un wvenport Hot avton Alrpl eere Aj Co etrolt Alreraft Driver Harris Dublller condenser Duauesne Gat Dursmt Mot VIDUI l 8141 81t lOOll00' Ut itti Til'si'Tei'iyi i Core'!!!! Am Am Depi et JAGGER Am cor war Associated Pre FlnsncUl Editor Am Cyan B Am Invest B earn NEW YORK July 2S— With Am Equities For Pow war lngs shrunk to the lowest level in 18 Am Am Founders or tne umiea directors bats the Am Oaa 4 El States Btoel eorpontuon zinsuiy oowea Am Bup Power to the business depression today AmdoUtlstpf St Qen B tto Tvett drastically reduced the disbursements Am Con Nit to common stockholders and pro Antlo ChllOas Appelatb posed a downward adjustment or oi Ark Mat Oat A do pfd fleers' and ofIce workers' salaries Ot Ss n A The common stock Quarterly divi Asso All Utll dend was cut to 11 irom $178 which had been paid slnde the second quar- Blckford xHHelow Sao Carpet ter of 1926 This reduced the annual Blue Rtdt f dividend rate to 4 from $7 This is the lowest common dividend rate uui max I r si since 1915 In which year no common Burco T Burco pfd ct dividends were Dtid and the first Burco war downward revision or a regular divi- Burma Ltd dend rate since that year Cable Sc wire A Tne directors declined to comment Cable Sc Wire B Ss Wire Pfd either formally or Informally on Cable CAM Co vte wages of plant workers It had been Can Marc Wtrelee rumored for several days In Wall Carnation Co pfd street that a slash in the dividend xCelanese Cent Pub Serv A and in salaries might be preliminary Cent States CI Pub Serv A It was Cent steps to a wage reduction ChAlri Stores Deir reported in usually weu informed xuni Burr ss uu k k 6c vice Quarters however that wares had Cities no not been discussed at today s meet Columvia Oil Sc O vto S 8o war ing No information as to the extent Com Ber Commum of the downward adjustment of sal- Com stock Wat Tun aries was available Aircraft The formal an Con xCont Share cvt pf nouncement merely said "the board of xCont Shares pfd B A directors recommended that an ad justment of salaries of all officers and other salaried employes be made in varying degrees depending upon the character of tho Tervlce ren dered" The corporation reported total earnings for the quarterly period ended June 30 of 13817524 after deducting all expenses Incident1 to operations including ordinary repairs and maintenance of plant and taxes This is the lowest since the first quarter of 1915 when Industry was still paralyzed from the shock of the outbreak of the world war It is the low est for the second quarter of the year for any year In more than 20 years Subtracted for Depletion From the total earnings was sub tracted $12211569 for depletion depreciation and obsolescence of plant This was $886267 mors than the similar charges for the preceding quarter but was $3709924 less than such charges in the second quarter of last Mcuiitn St Mentel Ry City Ice SS T Coll St Alt Colum Colum Orapb do ctfa Colum Carb Corn! Credit r Loriuara do Pfd Lo isv as urn Bteel J don F"H ereem triplet pound f 'tll eream lontnnrns pound F'lll cream sandwich loaf pound IMwk Swiss pound aloe brieke pound Lmnurter ream nricx pouna eriea penn oq uef ort 6 pounds each pound uil cream dalslse Wisconsin eurtS lb Bis Vv-- Loose Bat Bucyrus-Brl- e t Loft Tr a 0H tfjoter orocery is i 4 iCint foil A Br CXAUDE 11 UB1 11 tl t K rests SSI n tl win IS Kit Ark -Pow Ss 5s SS Asso- Else 4' a S3 Ass i iny etr Asso Ct Ai B 5 SO Asso Q Ss E Si SS do 44 4 O Assoc Til Utll B tfayet whtel Kelsey Bonn Alum Borden Uor Warner xBoteuy O M A Brmee Mi ao Dia 1738 3367 1646 1443 969 3058 1147 3535 1402 Kelly Bprintlleld auo a pits Armour of K do B And App Ind Asad Dry Ooods Atch T £ B F do pfd Atlantic Ref BklJB-Man- 1231 ni Deps Bt xdo pi a xw John Manvllie Anaconda Anchor Cap 111 xAuat Nlch pfd 1114 1181 C Am E! St Pow 8 BT A (Br the Aseoolated Prtati rORK July 2A— fn Iawid la llet Am o of Tuesday s trauaaetloot on the )itw York Am Pow tf L e 2011 ourb exchante: Am Red 111 41 Am Roll M 44s a S3 CURB ITOCK8 Apptlacb Oat 6 is (Bales In Hundreds) ao a BleskitTTirJo" rtoTZT Corporation Director Affintd xAf Anaco Pf xAIe Power 17 pfd Make Drastic Reduction Al I Ala row is f Am Oea A leshenr Oat XA urn Co Am of DisbursemenU do pfd n inShoe iti Et tit 37 Autoiales xBtld Loco pfd A Ohio arntdaU A Beatrice Cr N Belt Ry ptc pfd Rendlx Avlat Bethlehem Steel : Tot 1138 U S Int Harreeter Int Hydra Eleo Int Match Dte pi Met as Utli 1837 1831 1681 1759 2300 3016 1483 3039 1411 2813 1486 352 1678 3531 1177 1413 1568 1 Amtr Eu roc Am A For Pow Am Home Prod Am Ice Am Internet Am ui Am ween ra in 80 JO Irid Ralls Tuesday 108) 734 Prev day 1061 126 Week ago 1115 784 Month ago 118 S 836 Year ago 1701 1240 3 years ago 3387 1641 I years ago 1641 1303 High 1931 1403 1083 Low 1031 937 '64 S High 1930 3034 1410 tow 1930 1139 864 38 Am ital Am Net Ou Pfd m row & h da I pot alt Am Red Bt Baa Am Roll Ml Ifi Am Befetr Baser Am emeu at rl d fnd' Hi"'''''-'- ' Am Bnuff m Bolr co do ofd Am Steel Fdra Am Sueer Het Am Tr I A Tel 30 60 CURB APATHY N Y CURB MARKET DIVIDEND CUTi ! Btandard Statistics 1931 company) r 00 evi pid lullard Co Sulovs Wateh lurr Ad Mach lutterlck tyert Co Callahan Z Lead Calumet dp Aril Campbell Wy Canada D a Ale approved Canad Pas duaranty m O itp syndicate a Delaware corporation xcaro Case J qI wit-reaanuarwra in Phoenix Aria xdo old Milne formerly state Drobi Caterpll Tr co pre tlon officer for Utah represented the iceiote ntury Rio U tocAt raooccc wrore commission tne de pat and company Mrlann-nirk- s Serer Creamirr by Co) (QiioUtlont Ohio said he believed his company would i BUTT It t 5 Alton I 30 meet the conditions imposed Inas Cfile IMrat certooned pnund do ofd 33 first me cartooned unJ It (Ftrchment wrapped He lest) Ot West much as it already has consented to Chlo lOUS similar conditions in California and Phido Aofdm tir 34 Fresh extra poultry farm doaen Chic Pneu T pfd 33 la Arizona rie-tewhite dosen yeu Jl Medium poultry frm Among ths conditions imposed are xvnio cn ct Oil Produce Market STOCK AVERAGES (Copyright AbittM si Adams txprttt Air Reduction Alaska Juusau Am pression has dragged a basic Indus try The steel business of course is invery sensitive to changes in tne libdustrial tempo making money erally when times are good and conversely slipping downhill readily Coffee lower easier Braill-a- n when times are bad markets Wall street has held the belief that CHICAGO 0 would in a cut the dividend precede Wheat barely steady fore- -' reduction in the basic wage scale cooler weather bearish ast which United States Steel nas main' Canadian report talned but nothing was said in that Corn easy forecast benefi-iia- l connection at today'i meeting There rain Is to be however a lower salary Cattle firm scale Hogs steady to higher It was a dull session on the floor of the stock exchange and transactions were confined chiefly to the dealings of professional traders The opening was mixed and prices drifted uncertainly most of the morning and afternoon turning firm toward the close steel common finished unchanged Bethlehem whose direceased tors meet on Thursday Youngstown reporting a deficit of 3 nearly points for th) first half year lumped 3 points Rails made a demonstration of Securities Body Grants strength especUJly in tha hat hour Bales of 67SUS shares exceeded yesfor Slwre terday's turnover by about 100000 with the steal industry furnishing on Decreed Terms most of the news this week market circles here were Interested in the preliminary trade review comments Determlnstlon of the state sscuri on production and prospects American Metal Market said there had ties conuntaloa of Utah to put into been "no appreciable change" the effect regulation requiring Issuers of ingot ratio holding around 33 per Installnient "Uulft" cer cent where it has been for three long-terweeks "There Is no prospect" it tlficatas to Invest thalr reserve fundi was added "of a material change in for tha retirement of such certificates the next few weeks or until Septem- in Utah property was evidenced Tus4 ber opens when a sharp increase Is a ay wnen a cortoictonai permit was expected for the National STOCK MARKET STEEL SEES iC-- r NEW YORK SALT LAKE TRIBUNE WEDNESDAY MORNING JULY 29(103L' TIIE 48 SO XW 48 48 47 Ternl Elec S4s 83 771 77VJ 77 7Ut uni Rya ol 41V4I 47 13B 47 uni Rwy of Havana 47J 47 1MI MB II 47 Unit El rjer 7s l xw 31 B71 ftAl"l-- 4 al ln1 sale-Mrirk 453100 V T-1 hnnityear 1UatoT M SM AMI I ttl bond sales year io J2218000' AACuas aaies r'w "' 1 f |
