Evening star. [volume] (Washington, D.C.) 1854-1972, June 28, 1932, Image 14

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Evening star. [volume], June 28, 1932, Page A-14, Image 14
About Evening star. [volume] (Washington, D.C.) 1854-1972

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Evening star. [volume] (Washington, D.C.), 28 June 1932. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83045462/1932-06-28/ed-1/seq-14/>

Newspaper Page Text

Official of Association Up
holds Present Dual System
as Safest Method.
BY EDWARD C. STONE.
Plans proposed In Washington to
force replacement of the dual banking
system of State and national charters
•with a unified system under Federal
supervision are denounced by Felix
McWhirter. president of the State bank
division. American Bankers' Association,
in the current issue of the journal of
the association.
"It is proposed to compel reorgani
sation of our banking structure by a
process of coercion and political pref
erence," declares Mr. McWhirter, who
is president of the Peoples State Bank.
Indianapolis. "The~e stirs into fresh
conflict powerful forces wisely subdued
for half a century. The settled na
tional policies of a dual banking sys
tem. Stite sovereignty, freedom of in
dividual initiative and resistance to a
concentration of financial power in a
few private hands are once more made
national issues."
Describing particularly the proposal
of Senator Glass to grarrt branch bank
ing powers to national banks in all
States, even where forbidden to State
banks, and also on interstate lines under
certain conditions, Mr. McWhirter says:
"The reasons are not clear, the sup
posed benefits less so. but the adverse
effects are plain. The State-chartered
unit or»bank or trust company—and
the unit national bank as well—would
be given three choices. It could sell
out to the highest bidding branch sys
tem at a price dictated by threat of
ruinous competition. It could liquidate,
either before or after wasting its de
positor's resources in a futile struggle.
Or it could scramble into the race for
branches, a rc.ce certain to go not to
the swift, not to the strong, but onlv
to the big. and ultimately to the biggest.
Destruction of the dual system, sub
stituting "remote control" for individ
ual local management would "impair
America's fundamental vitality and
spirit of progress." he says, discour
aging "such potent factors in good
banking as employment of community
resources for a community's own bene
fit. proprietorship management, indi
vidual credit for success and individual
responsibility and penalty for failure
and placing faith in elaborate ma
chinery, not in men."
Partners in New Broker Firm.
It was announced in New York to
day that the recent merger of F. B,
Koech <fc Co. with Clark. Childs & Co.
•will go into effect on July 1. Details
of the consolidation have been carried
to^ completion and thi partners in the
combined firm announced, the broker
age house taking the name of Clark,
Childs & Keech.
In the new set-up, it is announced
that the partners will be Frank Β. I
Keech, Gilbert W. Keech, member of
the New York Stock Exchange; Rav P.
Sackett. member of the New York
Stock Exchange; J. Clarke Dean,
George A. Garrett of Washington,
Lucius P. Ordway, jr.; George Russhon,
William M. Erb, Austin F. Barry. Her
bert H. Childs. member of the New
York Stock Exchange; W. Channing
Burbank, William F. Bartholomew,
John Everett Kolbrook. John Edmund
Carney, Walter S. Aagaard, Lewis E.
Waring, George S. Passmore. J. F A
Clark and Richard Wharton will be
special partners.
As already noted in The Star, the
Washington office will remain in charge
of George A. Garrett, no staff changes
being contemplated.
L. λ ι*, uraers expansion worn.
Appropriations for work requiring
78.400 man-hours of labor were author
ized by the board of directors of the
Chesapeake & Potomac Telephone Co.
at its meeting held here today. This
work is necessary to keep the telephone
plant in good condition and to meet
service requirements in all sections of
the District.
The amount just approved briny» the
total work authorized so far this year
to 558.000 labor-hours, acccrdir g to
John A. Remon, general manager of
the company.
The work includes construction of
underground conduit and cable and the
Installation of telephones and private
branch exchanges.
Acacia's Business LTp 33 Per Cent.
At a meeting of the Field Advisory
Committee of the Acacia Mutual Life
Insurance Co., held here yesterday,
President William Montgomery reported
that business has increased 33' 3 per
cent since May 15, the date on which
the company's charter was liberalized
so that new insurance is not longer
confined to the members of the Ma
sonic fraternity. This sudden jump in
business was received with great en
thusiasm.
The Fie'd Advisory Committee for
th:s period includes Cornelius Legters
of the Tampa branch. Roland Suter of
Baltimore and%CIarence Fritz of New
ark. President Montgomery. Vice Presi
dent, J. P. Yort and Secretary Samuel
E. Mooers are ex-officio members of
the committee.
Bank Head's Sixtieth Birthday.
Thomas E. Jarrell, president of the
Washington Savings Bank, received
many congratulations today on the oc
casion < f his sixtieth birthday anniver
sary. Mr. Jarrell has been president of
the Washington Savings Bank for 10
years and has been active in the real
cttfte field for a much longer period.
Francis G. Addison, jr.. has just
started his third year as president of
the Security Savings & Commercial
Bank. He was elccted to this position
cn June 25, 1930, Jaûus I. Peyser,
founder and president of the bank at
that time, being electsd chairman cf
the board, which position he still holds.
Gen Chsr'ts E. Dawes, who recently
TPtigned as head of the Reconstruction
Finance Corporation, has resum-d his
F^are ft the head of the Central Re- ι
public Bank <fc Trust Co. of Chicago.
Today's Trading on Exchange.
Trading was light on th" Washington
Stock Exchange today, the opening
transaction being a $1.030 sale in Wash
ington Gxs 6s, series A at 98' ■·.
Washington Gas Light 5s figured in
β $500 turnover at par Ten shares of
Potomac Electric Power 51 , p-r cent
preferred sold at 103 i, and another
email lot changed at 102'2.
The auctioning off of the Exchange
rc-at held by Edward 3. McLean, for
mer publisher of the Washington Pest,
lor non-payment of due and assess
ments, was again postponed for one
Sleek.
Gleaned in Financial District.
New York City bank stocks, in which
there is wide local interest, reacted
slightly last week, according to the lat
est summary of averages.
For the four weeks ending June 18,
Enfeway Stores reported sales of $17,
*750,780 The company now operates
3,469 stores.
For the second consecutive week, the
National Fertilizer Association reports
a-) advance in its wholesale price index
irom 60 to 60.5.
The Interstate Commerce Commission
has approved Reconstruction Finance
Corporation loans of $13.600,000 to the
New Y?rk Central and $83,500 to the
Georgia & Florida Railroad.
The Financial World advocates ces
sation of short selling on the New York
Stock Exchange until what is consid
ered unwarranted liquidation has been
checked.
PARIS BOURSE PRICES.
PARIS. June 28 (A3).— Three per cent
tentes. 73 francs 55 centimes. Five per
cent loan. 97 francs 95 centimes.
Exchange on London, 91 francs 80
centimes. The dollar was quoted at 25
i.ancs 43 Je centimes.
TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE
Daylight Saving Time Is l'«ed in All Market Edition*.
^Prev. 1932^ Stock and Sales— Net.
High. Low. Dividend F„ate Add 00. High. Low. Close. Chge.
8 4 Abitibl Pwr & Paper. 12 2 'i + 4
98 72 Abram Strauss pf (7) 120s 70 70 70 —5
54 IS Adams Express 2 2 2 2
IS 9** Addressograph 2 104 10 10
16'» 44 Affiliated Trod 1.60.. 6 5 44 44 - V4
«2H 344 Air Reduction(t44). Π6 354 344 35 + 4
164 74 Alaska Juneau <50c). 15 81* 7*» 8^4 + S
3i* 4 Alleghany Corp 1 Η 4 %
87'» 424 Allied Chem&Dve(4) 429 47 434 454 + %
119 96'* Allied Chem pf <7)... 4 101 984 101 + Η
184 4 Allis-Chalrners(50c). 3 54 54 54 — 4
164 12 Amerada Corp <2)... 6 144 144 144
74 84 Am Agrl Chem(Del). 2 4 4 4 — 4
3Η 1 Am Heet Sugar pf. . . 60s 24 14 1*4 —1*4
15V* 64 Am Brake Sh&F(60c) 4 74 74 74 + 4
90 404 Am Brake Sh pf (7).. 50* 46 45 45 — Η
73·:» 29*. Am Can Co (to) 597 334 304 314+14
129 93'» AmCanCopf (7).... 2 96 95·» 954 -IS
34 Am Car & Foundry.. 3 44 4 4 — ν»
39:» 164 Am Car&Fdy pf (7). 10s 181* 18'* 184 + 4
15'» 11 Am Com Alcohol new 1 12'» 124 12'»
10'* 2»» Am Kuropean Secur.. 9 3 2»» 24 — 4
94 2 Am & Foreign Pwr. .. 6 24 2 2V»
884 5 Am&Forgn l'w pf(7) 2 54 54 64 +
6 3 Am Haw Sfship (1). 2 34 34 34
2'» 1 Am Hide & Leather.. 1 IS IS IS + Η
51*» 25 Am Home Prod 4.20.. 28 26». 25 26 -1
21S 9 Am Ice (2) 2 11 104 H
84 24 Am International.... 3 3 3 3+4
94 4 Am Locomotive 7 4 4 4 —4
444 244 Am Locomot pf 17).. 3 244 234 234 -14
224 74 Am Mch & Fdy 1.40.. 12 74 7S 7»« - 4
164 3 Am Pwr & Lt<l) 46 44 4 44 -4
494 13S Am P& Lt pf A (5).. 4 14 13 13-1
68 15% Am Pwr & Lt pf (6). 2 16 154 154 —4
84 34 Am Radiator 1 3S 34 3S + 4
120 85 Am Radiator pf (7).. 925» 80 80 80
13 3 Am Rollins Mills 4 44 4 44 + 4
184 64 Am Smelt & Ref 15 64 6 64 + 4
85 22 Am Smeltg & Ref pf. 1 23 23 23
103 90 Am Snuff pf (61 30s 934 934 934 -14
80 354 Am Steel Fdry pf (7). 60s 35S 35S 35S — 4
394 13 Am Sugar (2) 2 17 17 17 + 4
1374 764 Am Tel & Teleg (9).. 409 78 754 764 + 4
864 404 Am Tobacco (t6) 10 48 47 48 +14
894 44 AmTobacco Β ( ΐ6 )... 100 504 484 484 + 4
25 4 Am Type Founders.. 1 5 5 5 —4
344 11 Am Water Wks (2).. 10 12 114 12 + 4
31 11 Am Wat Wks efs<2). 3 11 11 11
75 26 Am Wat W 1st pf(6). 1 36 36 36 -2
304 1&4 Am Woolen pf 9 174 174 17!» - 4
34 14 Am Zinc & Lead 1 14 14 14
124 S4 Anaconda Copper.... 13 34 34 34
174 54 Anchor Cap ( 1.20)... 5 7 64 64
12 7 Archer-Daniels (1).. 1 84 84 84 -
44 24 Armour of Del pf(7). 2 26 26 26
2 S Armour of 111 (A).. .· 1 4 4 4 -
14 4 Armour of 111 (B) .. .I 5 4 4 4 -
144 34 Armourof lli pf 1 54 54 54 -
84 3 Asso Dry Goods , 13 3 3
94 204 Atch Topeka & S Fe.. 327 214 174 184 -14
86 424 Atchison pf (5) 2 43 42'» 424 -14
414 94 Atlantic Coast Line.. 2 12 12 12
124 84 Atlantic Refining (1). 10 104 104 104 + 4
794 46 Atlas Powder pf (6). 10» 474 474 474 — 4
1614 284 Auburn Auto if4) .... 201 494 43 454 -+4
4 4 Austin .Nichols 1 4 4 4 — y*
34 14 Aviation Corp (Del). 6 14 14 14
284 8 Baldwin Loco pf 60» 94 84 84 — 4
214 34 Baltimore & Ohio.... 23 5 4 44 5
414 6 Baltimore & Ohio pf.. 2 64 64 64 — 4
4 4 Barnet Leather 2 4 4 4 — 4
54 34 Barnsdall Corp 4 44 44 44
434 164 Beatrice Cream (2).. 1 174 174 17!»
95 70 Beatrice Crm pf" (7) .. 1 74 74 74 -t-34
184 44 Bendix A\laiion 6 54 5 5
14 » 54 Best & Co 1 04 64 64
244 74 Bethlehem Steel 28 7!» 74 74 — Vi
74 244 Bethlehem Stl pf (7). 1 24 24 24 — 4
43 4 204 Borden Co (2) 36 214 204 214 + 4
124 34 Borg Warner 2 34 34 34 — 4
604 114 Bklyn Manhat Tran.. 54 154 144 15 +4
784 314 Bklyn-Man Tr pf (6). 7 42 414 42 + 1
68 284 Bklyn&Queens pf (6). 1 234 234 234 - 54
894 46 Bklyn Union Gas(5). 6 52 50 50 -2
2 4 Bruns Term & Rwys. 3 4 4 4 — yt
18 .64 Burr'ghs A M (80c).. 6 7 64 7
65 94 Bush Term deb (7)... 70» 104 104 104 — 4
19 7 Byers (AM) 5 84 8 84 - 4
lilt 44 ι amornia racking. .1 00 ο ο
4 ·4 Callahan Zinc & Dd. . 2 4 Η 4
4 14 Calumet & Hecla 1 24 2>» 24 + 4
134 6 Canada Dry (1.20)... 3 7»» 74 74 — 4
204 74 Canadian Pacific 1 4 . 18 84 8!» 81» — »*
434 164 Case (J 1) Co 148 224 204 211» + 4
75 SO Case (J I) pf (7) 80» 344 344 34'» -3
15 44 Caterpillar Trac 50c. 1 5 5 5 H 1*
141» 74 Cent Aguirre (14 ) ·. « 144 13'» 14'., + »,
15 31» Cerro de Pasco 3 44 41» 4V»
3114 104 Ches & Ohio (24). . . 138 Ils S7. 9·* - ».
201» 5 Chesapeake Corp (2). 25 51» 41» 54 — la
44 114 Chi Great Western... 2 1!» 14 11»
54 IV» Chi Mil StP& Pac pi. 1 1'·» IV» IV» - H
124 2 Chi & Northwestern.. 6 24 2H 24 + 4
31 5!» Chi & Northwest pi. . 1 51» 51» 51» — H
164 11» Chi Rock 1 & Pacific.. 4 2 2 2 —1*
9 5 Chicasha Cotton Oil., 15 5 6
164 5 Chrysler Corp (1)... 64 64 6 6
284 1» City Ice&Fuel (3.60). 7 154 14'» 144 - 4
68 634 City Ice&Fuel pf 64 . 10» 54 54 54
22 1· Ciuett Peabody (2). . 1 10 10 10
120 834 Coca Cola (|8) 197 84»* 804 81 -24
50 424 Coca Cola (A) (3) 1 42V» 421» 421»
314 124 Colgate-Pal-P (2V4).. 2 121» 12V» 121» — 4
101-» 24 Collins & Aikman.... 2 31» 3 3 — 4
16!» 4!» Columbia Gas (bl)... 27 6(4 51» 6 — «4
411» 134 Columbian Carb ( 3) .. 15 16S 15*» 16!» + s
11 31» Comcl Credit (50c).. 7 4 4 4
26V» lï Comcl Credit A (3)... 1 134 134 134 -I4
271» 104 Comcl Inv Trust (2). 6 114 11V» 111» — 4
104 3V» Comcl Solv (60c) .... 14 4% 4V» 41» — 14
14 Comwlth & Sou(30c). 28 2 2 2
274 Comwlth&Sou pf (6). 3 354 364 35'» + 1»
64 Congolm Nairn (1). . 3 7 64 7 + 4
5 Consol Cigar 1 5»» 5*» 5*» — V»
17 Consol Cgr pr pi 64 . 10» 27 27 27
21» Consol Film pi 10 3 24 3 +4
314 Consol Gas-Ν V (4).. 208 35*» 344 344 + 4
5 Consol Daundries(l). 1 54 51» 54 + 4
4 Consol Oil Corp 25 5 44 44 — 4
14 Consol Textile 1 4 V» Vi
244 Cont 1 Baking pi (6).. 3 294 29% 294 — 4
174 Contl Can (-4) 40 19 18 18'·» + '·»
6·» Cont Insurance(1.2U) 5 94 9 9 — »»
34 Contl Oil (Del) 2 4 4 4-4
4 Contl Shares 4444
254 Corn Products (3)... 33 271» 27 27 + 4
14 Coiy Inc 1 14 14 14
74 Crown Ck & S (1.20). 24 124 114 124 + 4
174 Crown Corlrpf (2.70) 1 184 184 184 -t 4
15V» Crucible Steel pi... . 30» 15V» 15V» 154
4 Cuban-Am Sugar.... 2 1 1 1
20 Cudany l'ack (2 4).. 1 21V» 214 214 — 4
94 Curtis Publishing... 2 94 94 94 — 4
24 4 Curtiss Wright 53 1 4 4
34 14 Curtis Wright (A)... 16 14 14 1*, — 14
90 62'» Cushmans )>t ( 7 >. . .. 30» 654 634 634 —14
54 4 Davega Stores (60e) » 1 44 44 44
64 1 Davison Chemical... 4 2',» 24 2!»
154 64 Deere & Co pi (40c·).. 1 64 64 64 — 4
894 354 Delaware &. Hud (9). 2 36 35 35 —4
9 14 Denver & KG W pi.. 1 2 2 2 +4
122 63 Detroit Kdison (8 )... 1 62 62 62 -24
1514 12 Diamond Match ( 1).. 3 144 14 14'·» +
11*» 74 Dome Mines (tl 20).. 1 9H 94 9^ +
134 5 Douglas Aircraft ( 1 ) 3 54 54 54 —
124 24 DressertSK)Mig(B). 1 24 24 24 +
47 23 Drug Corp (4) 33 26V» 254 254 +
594 244 Dupont de Nem (3). . 173 244 24 244
105 80"» Dupont deN dli f»f (6). 2 854 85 85'» + 4
877» 37H Kastman Kodak (5).. 58 404 38!^ 394 — V»
8 3 KatonMfgCo 8 3 3 3
14 4 Kitington-Schild. .... 1 4 V>
324 84 Klec Auto-L (120)... 1 94 94 91,
4 14 Klec&Musical Instru. 2 14 14 IV» — 4
144 24 Klec Pwr & Lt 36 34 24 24
554 104 Klec Pwr & Lt pf(6). 1 104 10',4 104 — H
46 1114 Klec Pwr & Dt pi (7). 3 IIS 114 11V» — 4
33'/» 12S Klec Storage Bat (3). 2 17V» 17 17 + 4
1074 98 Kndieott-John pf (7). 5 1014 1014 101V» -1
134 24 Kl ie H Κ 1st pi 1 34 34 34 + 4
4
54 3 Fairba11ks-M0r.se.... 13 3 3
74 24 Fashion Park As pi.. 150s 3 3 3
104 3 Fed Wat Service Α.. 4 34 3 3 —
lsS 104 Firestone Τ & Jl (1).. 3 10"» 10». 104 —
694 464 Firestone T&Rpf(6). 2 474 47 471» +
43 37 First Natl Sirs (2 4). 12 40 394 394 +
4 4 Fisk Hubber 1 4 4 4
10 44 Florsheim Shoe (A).. 2 64 64 5!» —
12 3 Foster-Wheeler 5 54 4V» 64
44 11» Foundation Co 1 1(4 14 14 —
21!» 104 Fourth Nat Inv 1.20.. 2 12!» 124 124
194 10 Freeport-Texas (2).. 2 104 104 10'/» —
+ !»
174 £4 Gameweil Co 110» 64 64 64
34 4 Gen Am Investors... 6 4 4 4
1S4 4*» Gen Asphalt (1) 16 6 6
34 4 Gen Bronze 1 11 1 1
381» 20 Gen Cigar (4) 2 224 224 224 — V
264 84 Gen Electric ( 40c)... 187 94 9 94
114 104 Gen Klec spec (60c).. 2 104 J04 104
404 19'» (ien Food Corp (3)... 39 204 194 204
24 4 Gen Gas & Klec (A).. 12 4 4 4
244 34 Gen G&K cv pf A(p6) 3 4 3 3
88 77!» Gen Mills pi (6) 1 77 77 77
244 84 Gen Motors ( 1 ) 170 84 8 8
874 694 Gen Motors pf (5)... 3 59"» 594 594
4 34 Gen Outdoor Adv.... 1 34 3!» 34
9 44 Gen Outdoor Adv ( A) 14 4 4
60 274 Gen Prtg Ink pf (6).. 60s 30 30 30
14 4 Gen Realty & Util. ... 3 4 4 4
164 6 Gen Realty & Util pi. 1 54 54 54
144 24 Gen Refractories. ... 15 24 2 2
244 104 Gillette Saf Raz (1).. 61 124 114 12
684 47 Gillette Sat R pi (5). 2 454 45 454
6'* 24 Gobel (Adolf) 3 44 44 44
191» 84 Gold Dust (1.60)....> 9 104 10 10
95 83 Gold Dust pf ($) 1 75 75 75
51» 24 Goodrich (BF). 1 24 24 24
184 54 Goodyear Tire&I'ub.. 2 6!» 6',» 64 — 4
61 194 Goodyear 1st pf (7).. 2 22 214 214 -4
144 74 Gotham Silk Hoiiery. 3 144 144 144
44 1 Graham-Paige 2 11* 14, 14 — 4
3 14 Grand Silver Stofes.. I !» 4 4
80!» 144 Grant (W T) (l)i 7 154 15 164 - 4
25 54 Great Northern pf » 6 64 6 64
fe.64 34 Great Western Sug., | 1 64 64 54 + Κ
-Prev. 193î-> Stock and Balfs—
lgh. Low. Dividend Rate. Add 00. Hlih.
1*» V* Grigsby Grunow. . .. 3 % H H
3% Hawaiian Pineapple.. 2 4 4 4
45 Hershey Choc (6). .., 5 46 44 4fi +1
lv. Houston Oil (new) . .ι 2 2 2 2
8*4 Houston Oil 1 9% 9S 9% +
5 Howe Sound ( 40c)... 3 5H 6H 5%
8 Hudson & Man (3'i). 1 12% 12*. 12%
2!4 Hudson Motor Car... 4 4H 4V» 4% +
1% Hupp Motors 3 1*4 1% 1% +
4% IliiaoiaCentral 13 6 5H 5% - %
7>4 Industrial Rayon (2). 7 8Π 8V» 8W + '>
14% Ingersoil Rand ( 3 ). . 2 16*» 16*» 16% + *«
% Inspiration Copper. . 1 1% 1% 1% + H
3% Ins'sharesDel a62 He. 1 3H 3'i 3H — H
61H Int Bus Macliine(n6) 35 62*» 60'a 62v« + %
H Jnt Combustion 5 H '3 '.à —
4',i Int Combustion pf. . . 14 9% 8'.·» 9*» * %
ll'i Int Harvester (1.80). 15 11% 11 H% + *■
68% Int Harvester pf (7). 1 69 69 69 — %
IV* Int Merchant Marine. 5 1'» IV» 1V4 — 'r·
3H Int Nickel of Can.... 55 4 3*» 3» — V»
63 Int Nick Can pf (7) ·. 1 50 50 50 —4
Vi 1% Int Paper pf 40s 3 3 3 —3',4
H Int Paper & Pwr (A). 1 S % %
2 Int Paper & Pwr pf.. 3 2H 2% 2% - H
4 Int Printing Ink 14 4 4
32% Int Shoe (3) 22 34'a 34 »4H + %
26 Int Silver pf (4) 20s 30', 30'i 30'· -IV»
2% Int Tele & Teleg 17 3!* S1·* 3%
10·/» Island Creek Coalf 2 ). 4 ll'a 10*. 10'»-%
10 Johns-Manville 20 im 10*» 10»* + 1
«Γ Johns-Manv pf (7)... 10s 55% 55 ·3 55'·.-"
JO Jones & Laugh pf(4). 90s 35H 34 34 -1
3 Kaufman D S (80c).. 2 3% 3% 3**
5 Kayser ( J ) & Co 12 5·4 5 5 — %
8 Kelly-SpT8% pf et.. 1 7 7 7 -1
1 Kelsey-Hayes Wheel. 4 1 1 1
2% Kelvinator Corp 4 3 2H 2% - H
6 Kennecott Copper... 49 5V» 5 5!% + H
8H Kresge (SS) Co (1).. 13 8V» 8 8V»
19 Kress (SH) Co (j 1 ».. 9 18V* 18% 181» -1%
10 Kroger Grocery (1 ).. δ 10% 10*» 10% + Vi
25 Lambert Co (tô) 11 28% 28 28Vi — *»
1*» Lee Rubber & Tire... 1 2% 2% 2V*
47 Leli Port Cmt pf (7). 20s 48V» 48'» 48V»
30% Lehman Corp (2.40).. 2 30'» 30% 30% — 1%
3"» Libbey Owens Glass. 1 4'» 4V» 4'* + V»
32'» Liggett & Myerstt»). >' 38U 38 3K —1
34% Liggft Myers Β (t5). 9 39% 38 38 -1
100 Ligg & Myers pf (7). 4 108 106 106 —4!»
8!» Lima Locomotive .... 4 10 10 10
9 1 J<juid Carbonic (2).. 1 10*» 10*» 10*»
13V» Loew's Inc (+4) 15 H>% 14H 15%
45 Loew's Inc pf (6 H ) · · 2 45 45 45
l'a Loft Inc 3 2 2 2
V» Long Bell Lumb( A)ï. 1 '» % Vi
16% Loose-Wiles Bis(t3). > 5 18% 17*» 17% -1%
9 Lorillard (P) (1.20).. i 17 11 10% 10*» + H
8% Lou GasftKl A (l*i).. 1 H* H** H*
7H Louisville & Nash . ..( JL 1 10% 10% 10% + V»
13 Mclntyre Porc M ( 1 ). 1 14'» 14% 14% — V»
28 McKeesport Τ Ρ (4).. 27 33 31% 32% +1'/»
1% McKesson & Bobbins 1 1% 1% 1%
3% McKesson & Robs pf. 1 4% 4% 4% + %
10 Mack Trucks (1) 5 12'i 12 12 - %
17 Macy (II R) (n2) 10 18% 18 18
lVi Mandell Brothers. ... 2 IV» 1% 1% — Vi
4 Manhat Kiev mod gtd 15 5 5
SH Manhattan Shirt 14 4 4
H Maracaibo Oil Exp. .. 1 % % % — %
6',, Marine Midld (80c).. 4 7 6% 6% — H
5% Marlin-BockwelKl ). 2 6 6 6 — V»
3H Marshall Field & Co.. 1 3H 3H SH
9 Mathieson Alk (1V2). 1 9% 9% 9% + Vi
9% May Dept Stores 1.80. 1 10 10 10
3% Mld Continent Petrn. 1 4H 4H 4H — H
25 Mid St Pr 1st pf (3).. 2 26 26 26 -4
5 Minn Molina Ρ pf.... 1 5 5 5 -1H
1% Mo Kan & Texas 2 2 1% 2
1H Missouri Pacific 12 2 2
2H Missouri Pacific pf. .. 1 3Vi 3Vi 3Vi + %
13% Monsanto Chem 1 '·» .. 4 16(4 15% 16V» + H
SH Montgomery Ward. .1 17 4H 4H 4V»
% Mother Lode 1 % Va H
2H Murray Corp 1 2% 2% 2% j
β *\asii inuiui η \ - ; «· ^
25% Nat Biscuit (2.80) 71 26 24% 25% + V
101 Nat Biscuit pf (7)...· 1 108 1·8 108 -2
·% Nat Cash Reg (A)... 2 6% 6% 6% — V
14% Nat Dairy <2.60).... 87 15% 1414 14%
13 Nat Dist Prod (2)..., 11 19 18% 19 +1
4914 Nat Lead (5) 1 83 53 53 — 5^
94 Nat Lead pf A (7) ... 60s 941* 94 94
70 Nat Lead pf Β (6).... 20a 68 68 68 —2
6% Nat Pwr & Lt (1)... · 24 8% 81* 814
14'/» Nat Steel (1) 3 14V* 14 14 - V
1% Neisner Brothers. ... 1 1V4 1% 1%
2% Nevada Con Copper.. 1 2!·» 2% 2% — V.
4V» Ν Y Air Brake 2 414 4V» 4'/*
8*» Ν Y Central 194 11% 10% 10*» + 1
1% Ν Y Chicago & St L.. 1 2% 2% 2V* — *
2 Ν Y Chi & St L pf 4 2 2 2 -V
82% Ν Y & Harlem (5).... 40s 92 91% 91% - fi
6 Ν Υ Ν Η & Hartford. 7 714 6% 6*»
14*4 Ν Υ Ν II & Hart pf. .. 3 14 1ST» 13'»
4*4 Ν Y Ont & Western.. 9 414 4*4 4%
70 Ν Y Steam pf (6). ... 120s 75 71V» 7114
90 Ν Y Steam 1st pf(7). 10s 92 92 92
10*» Noranda Min (aûOc)., 3 11T4 117· 11*4
57 Norf & Westn (tl2).. 6 59 67 571,
1*4 North Am Aviation.. Il 2 1*4 1*4
13% Nor Amer(bl0%stk), 73 16', 15% 16%
6*4 Northern Pacific 27 6*4 6% 6V,
5 Ohio Oil (a20e) 6 6% 6% 6% —
% Oliver Farm Equip.., 2 H H »t +
9 Otis Elevator (1H >.. 6 11 10». 11 +
12 Owens 111 Glass (2).. 12 20 20 20 —
16% Pacific Gas & El <2).. 64 19*4 19 19% - V
20% Pacific Lighting (3 ). 6 26*, 25 25',
58 Pacific Tei&Teieg(7) 290s 62Vi 61 61 -IV
1% Packard Motor Car.. 21 1*4 1% 1%
IV» Paramount Publix... 74 Ι'* 1% 1%
2 Park & Tilford 2 4% 41* 4% + »
H Park Utah 2 H H H
114 Pathe Exchange (A). 1 2 2 2 — *
% Peerless Motor Car.. 1 % % %
13 Penney ( J C) (2.40}.. 7 15 14% 14% + »
614 Penna Railroad 46 8 7% 7% — *<
4514 Peoples Gas Chi (5). 15 48 46% 47 + V
3V4 Pere Marquette pr pf 30s 4% 4'* 4'4 — V
3 Petrol Corp of Am... 6 3% 3% 3%
3'4 Phelps Dodge 1 4S 4% 4%
18 PhiiaCo 6% (3) η 1 214 21V, 2114 -
2 Phlla & Read C & I... 10 2 2 i
2 Phillips Petroleum..: 9 3*4 314 314 + V
1*4 Pierre-Arrow..' 1 11* 11* H* — ν
14 Pierce-Arrow pf 1 1514 15'4 15*4 — V
'4 Pierce Petroleum.... 1 «* h % + V
18% Pitts Coal pf 1 18 18 18 -2
614 Prairie Pipe Line.... 2 7 7 7
24% l'roct&Garni» (2.40). 54 25V» 24 24 — '
29% Public ijjvc Ν J(3.20). 49 32% 30% 31', + »
llf'i Pullman Corp (3)..., 12 14 1314 137* + *
2"* Pure Oil 5 3V* 3 31» ,
2% liadioCorp 19 3*4 3 3
10 RadlCorp pf (A) 3 10% 10H 10H
3% Radio Corp pf Β 4 5 4V, 4V,
1% Radio-Keith-Orph. .. 2 2% ^ 2*4
4*4 Raybestos-Man (60c) 2 414 41, 4Vâ
914 Reading Rwy (1) 3 11% 11 11
1 Remington-Rand.... 1 1% lvi 114
4 Rem ltand 1st pf 2 6% 6% 6%
1V4 Reo Motor Car ; 2 1% 1*4 1%
1*4 Republic Steel 1 254 2V* 2*4
5% Republic Steel pf. ... 15 5 5
6 Reynolds Met ( 1 *4).. 4 6 6 6
65 Reynolds Tob A (3).. 50s 65 65 65
26% Reynolds Tob Β (3).. 17 27% 26% 27>4
IV, Itossia Ins of Amer.. 1 IV* 1V4 lï*
12V* Royal Dtch (a8le). .. 2 15% 15% 15%
34% Safeway Stores (5).. 17 35V4 34 35
60 Safeway Strs pf (6). 10* 64% 64'i 64'4 +2
69 Safeway Strs pf (7).. 20· 73 73 73
5V* St Joseph Lead 2 5'j 5*4 5% — V*
H St L-San Francisco.. 1 1*4 1'4 1V4 — %
% Schulte Bétail Stores 3 1 1 1
V* Seaboard Air Line. . . 1 Vi % %
6*4 Seaboard Oil Del 40c. 7 7% 7% 7% + %
10 Sears Roebuck ι 53 10% 9% 10
1% Servel Inc 6 1% 1% 1% + H
5 Shattuck (FH) 50c. .· 3 5% 5*4 514 + *4
2*4 Shell Union Oii 2 2% 2% 2%
18 Shell Union Oil pf. .. 4 20 20 20 +1
3% Simm» Petroleum.... 3 3T» 3% 3% — %
214 Skelly Oil 1 3% 3V* 3%
6*4 Socony-Vac (80c).... 37 7 6% 7 + %
35H Solv Am pf ww(5V4)· 9 35*4 35 35 —H
4(4 South Port Rico Sug. 23 8% 8 8 — %
15% Southern Cal Ed(2).. a 19 18% 19 + >i
6% Southern Pacific 75 7% 6'» 7 — %
2% Southern Railway... ft 3 2% 3
4% Southern Railway pf. 2 4'» 4 4 — '*
8 Spencer Kellog(60c). 1 8 h 8
6 Spicer Mfg 15 5 6
8% Stand Brands (1.20)., 20 10 9% 9% + %
119V* 110 Stand Brands pf (7). 1 118% 113% 113% + %
34% 7% Stand Gas & Elec (2). 10 10 9% 9% + '*
9% Stand Gas&El pf (4). 2 13V» 13 13V* + %
24% Stand Gas&EI pf (6). 2 29% 29 29% +1%
1514 Stand Oil Calif (2)... 9 18 17% 18 -%
81 Stand Oil Kxp pf (δ). 1 85 85 85
7 Stand Oil Kansas.... 5 7 7 7
19% Stand Oil Ν J <t2>... 103 23% 23% 23%
% Sterling Secur (A ). . 1 1, V» 14 — %
13% Sterling Secur cv pf. 2 161» 16% 16'* - %
1'4 Stewart Warner 4 2% 2 2V*
61» Stone&Webster(50c) 31 6% 5% 5% — V»
2% Studebaker Corp. .3 3V4 3% 3% + %
24% Sun Oil (1) 1 27V» 27V, 27% + %
V4 Superior Oil » 2 % % %
2 Sweets Co of Am... . 1222
9% Texas Co(l) 29 9% ' 9% 9% + %
12% TexGulf Sulph (2).. 12 12% 12% 12%-%
4 The Fair 2 4V* 4Vi 4% -1%
40 The Fair pf (7) 100e 40 40 40
3% Third Avenue 3 4** 4% 4% — %
2V» Timken-Detroit Axle 1 2V« 2V» 2V»
8% Timken Roll Β 1 % . .. 7 8% 8% 8% Ζ
2% Transanterica Corp.. 5 2% 2% 2%
1% Tri-Contl Corp 19 2 1% 2 + Η
8% Underwood-El-F ( 1 ). 1 8% 8% 8' i — %
151, tin Carbide &C( 1.20) 100 16'» 16% 16%+ *«
8% Un Oil of Calif (1.40). 4 9% 9 9 - %
31% Union Pacific (6) 132 33 29'4 30%-%
40 Union Pacific pf U),j 11 41 , 41 41 -2 -
-Prev.1932—. Stock and Sales— Net.
Low. Dividend Rate. Add 00. High. Low. Close. Chge
12 Un Tank Car (1.40). . :3 124 12 12 — 4
6'·» Unit Aircraft 37 74 74 74
804 Unit Aircraft pf (3).ι 4 40 39* 40 + 14
64 Unit Carbon 1 8% 84 8% + 4
34 Unit Corp (40c) · 42 4% 4 4'«
20 Unit Corp pf (3) 12 224 22·* 224 + 4
ΙΟ'-i Unit Fruit (2) 2 13 13 13 - 4
94 Unit Gas&Im(1.20).. 53 124 117· 117» — 4
44 Unit riece I>ye Wks. 3 4 3'* 34 -1
1»» U S & Forn Secur. ... 4 1*, 14 14
134 U S Indue Alcohol... 12 16 15 154 + 4
74 US Pipe& Fdry (2).. 3 84 84 84 + H
114 l* S Pipe 1st (1.20).. 6 11*. Hi, 11». + 4
2 U S Realty & Imp. ... 6 24 24 24 — 4
10 USSmtgA Ret (1).. 4 11 104 104
324 U S Smtp&Ref pf 3 4 1 324 324 324
214 US Steel 392 23 214 214-4
51*» Γ S Steel pf (7) 78 534 514 524 + 4
27 Unit Stores pf (3). 2 31 31 31
1H Util Pwr & Lt (A). . ■ 3 24 24 24 + 4
4 4 Vadsco Sales Corp... 14 4 4
184 54 Vanadium Corp 3 7 Ç*4 g»4
1 H Va-Car Chemical.. .„ 4 1 t ν
394 20 Va-Car Chem 7 To Pf.. 4 35 34 35
4 4 Wabash R R 1 1 1
6 1 Wabash pf (A) 1 14 1% 14
19 74 Waldorf Sys (1%) ... 18 8 8
3 4 Walworth Co 3 4 », »4
24 4 Ward Baking (B).... 1 4 »,
44 4 Warn Bros Pictures.. 26 4 s, *4
20 4 "Warner Bros Pic pf.. 15 5 5
14 4 Warner Quinlan 11
4
7
14 Warren Bros 2 14 14 14
,-Prev. 1932—, Stock and Bales—
High. Low. Dividend Rate Add CO. High. Low. Close. <
Η Webster Eisenlohr... 3 4 4 4
204 Webster-Eisenlhr pf 20f 25 25 25
8*» Wesson Oil & Sn (1). 1 84 84 84
444 Wesson O&Sn pf (4). 4 444 444 444
4 Western Pacific pf.. · 5 m 1 1
124 Western Union 43 134 124 12*»
94 Westing'se Air B(l). 7 104 10 10
164 Westinghse Elec (1). 198 174 164 17
524 Westinghse 1st (3 4 ) 50a 59 59 5»
24 Weston Elec Instru.. 14 4 4
64 White Motor 2 74 74 74
12 White Rock M S <2).. 1 12 12 12
2*4 Wilcox Oil & Gas.... 28 44 44 44
4 Willys-Overland 1111
11 Wilson & Co pf 8 13 13 13
22 Woolworth (2 40) 82 244 234 234
5 Worthington Pump.. 9 lO 94 94
254 Wrlgley ( Wm) ( 4 I. .. 5 304 30 30
14 Yellow Truck 2 14 14 14
12 Yellow Truck pf 90s 24 22 24
94 3 Young Spring&W* 1 ). 2 44 44 44
9'» 44 Zonite Products(60c) 4 44 44 44 — 4
Sales of Stocks on New York Exchange.
10:30 Α.M 100.000 12:00 Xoon 4β0.000
1:30 I'M 600.000 2:10 I' M 600.000
Dividend rates as given In the above tables are the annual
cash payments based on the latest quarterly or hall-yearly decla
rations.
•Unit of trading less than 100 shares. tPartlj extra. îPlus
4'· in stock a Paid this year—no regular rate, b Payable in
stock, e Payable in cash or stock, i Plus 8·. In stock, h Pius 3'»
in stock, j Plus J1 in special preferred stock, k Plus 3Γ» in stock,
m Paid last year—no regular rate, η Plus 5Γ· In stock, ρ Payable
in scriD χ Ex-dividend.
PURCHASE OF SILVER
AUTHORIZED IN BILL
Senate Banking Committee Reports
Measure Designed to Stabilize
Price of Metal.
By the Associated Press
The Senate Banking Committee has
reported a bill authorizing the mint to
purchase not more than 5,000.000
ounces of silver a month up to July 1,
1938. The silver to be purchased is to
be the product of mines and reduction
works in the United States, coined into
standard silver dollars and subsidiary
coins, and is to be the basis of cur
rency issued in the form of silver cer
tificates of $1, $5 and $10 denomina
tions.
The committee said the bill is to aid
in overcoming the oversupply of silver
in world markets, due to debasement
of melting of silver coils by governments
and disposing of the metal in the mar
ket, and to place in circulation a limited
amount of additional currency based on
silver.
Opposed to the measure is Secretary
Mills, who expressed disagreement as
to the seriousness of the low price of
silver and commodities. These low
prices, he said, reflect conditions which
must bo remedied by readjustments in
basic conditions rather than through
creation of an artificial demand. He
said the bill does not represent a neces
sary or sound use of silver, and that the
purchase would be unnecessary to cur
rency requirements.
RAILROAD EARNINGS.
NEW YORK, June 28 (Λ31).—Norfolk
& Western Railway had May net
operating income of $1,091,480, com
pared with $1,603,462 a year ago. Fig
ures for other roads reporting today
follow:
1932 1931
Kansas City Southern, $45.335 $246,543
Burlington 162,214 1,385,551
Illinois Central 547,915 853.989
Delaware & Hudson .. 65,518 358,380
Northern Pacific ..(x) 61,299 34,335
(xj Deficit.
Gasoline Price Advanced.
NEW YORK, June 28 (Λ*).—Standard
Oil Co. of California has advanced
gasoline prices 2'2 cents a gallon, fol
lowing the advance in crude oil effective
on June 26. This is the first change
in California gasoline prices since April
9. when retail quotations were cut 2
cents a gallon.
dividends declared
NEW YORK, June 28 (/Ρ).—
Redoced.
Pe
Company. Rate, riod
Allegheny Tr (Pitts»-12 Q
Avondale Mills $5 Q
Bank of France 100 ir
Canadian C & F ...15c
Cinn Bk A- Tr $2
Dist Nat Bk
ι Wash. D C).. $1 50
Maiden Tr (Maiden,
Mass) 10c
Manchester Sav Bk
& Tr : Pitts) .. $1
Nat Bk of Germntn
& Tr (Philai ?1
Sat Cent Bk < Bait ι $3
Sat Pr pr Tr pf 87'2c
Park Bank (Bait).. 10c
Penman's 75c
Peter Paul Inc 15c
Sec Ν Bk IN Hav $2
State St Invest. 50c
West Side Trust
(Newark. Ν J)
Willimantic Τ
(Conni
S
s
ο
Q
Q
Q
Q
Q
62'je Q
...25c Q
Omitted.
Béni Elec Mfg 8r'r
1st pt *2
Contin Tel 7'· Pf S1.75
Do 6'ii''· Pf î 1 62" .·
Flatbush Invest ..$1.50
Qraham-Paige Mot
1st pf fl.75
Missouri Oas & El
pr lien . î 1.75
Stearns (Fredι & Co
pf ï 1 75
Thompson Co Inc pf $!
Westn Ins Sec pf.Jl.50
Wilcox & Rich Β. ,7'ac
Regular.
Aeolian Co Mo 2d pf.<2
Allegh V Bk (Pitts' $2
Am Furn Co A pf .ll 75
Am lnv Tr Shrs . 94Hc
Athol M Co Tr pf $3 50
Baldwin Co ί'ί· pf $1.50
Boston R R Hold pf $2
Bristol B&T ' Conn ι 50c
Col-Ore Pr Co C ν
Bf (1927i Si SO
Can Bronze Ltd 31'«c
Do. Pf 11.75
Citiz 4 Sou Ν Bk
(Savannah) 25c
Colum Ν Β (Wash,
D CI >3
"omwlth Ins 8hrs.25c
Do. Β 12.95c
Comwith Life Ins
(Kvt 40c
Comwith Tel pf
(Madifon. Wisi il 50
Sons Royalty Oil . 5c
3ons Trac of Ν J $2
Duquesne NB (Pitt). 12
Ely & Walk Dry
Gds pf $3 50
Do. 2d pf *3
ïureka Pipe Line ..$1
Farm & Merch Bk
(Lg Beach. Calif ι S3
Do. ( L Ar.geles) $4.50
First Ν Β (Mobile).$3
First Nat Bk (Toms
Rlv Ν J> 87' jc
Ftnilds Mill Co pf. $2
3".obe Disc & Pin 25c
ill Coml Tel *6 pf.$l 50
[nti Elevating fl
tnt Util *7 pr pf $1.75
Do. $3.50 pr pf STjc
Do $1 75 pf 43a4C
Janss lev $6 A pf.$1.50
It hnson Publish 1212c
Lex Tel Co 6'j'<
pr pf $1.62 j
Lincoln Tel & Tel.$1.75
Lynbrook Ν B&Tr.30c
Mil Factors Corp
(Ν Υ ι A 50c
Do Β 50c
Murray 'JWi Mf pf $2
Nat Weaving Co 7
Br pf «3.50
Ntilson (Wm) Ltd
pf *1 75
Ν Brunsw Lt Η &
Pow 5'< Pf $2.50
Ν Eng lnv & S pl..$2
Newark Cons G as . $2.50
Newark Tel Co
(Ohio) 6 ' Pf.. $150
No Am Edis pf...»1.50
Ohio Asso Tel C pf 35c
participation in Select
Standard Oils. 17.963c
Penmans pf. l'2'i
Pocah Fuel Oil pf $3
Reliable Strs Corp
1st pf ··* 1
3anta Cruz Post Ce.Ti $1
Secur Tr (Indi $3
Security Tr ( Lynn 1.40c
Springfteld Ry Cos
pf (192βι $2
Syracuse Trust .. aOc
Tec Palm Bridge
71 v„ Pf 5187'.·
rri-State Τ & Τ 11.50
,V Jer Tr ( Camden >. 25c
Westn Sav & Dep
Bk (Pitts) $1
Wichita Un Stk.
Yard $1.50
WrittltAB; Ce Pl.llVZS
Pay
able.
July 1
July 1
Aug. 30
July 9
Hldrs. of
record
June 20
June 30
S
Q
Q June 30
Q July 1
q July 1
July 1
July 1
July 1
July 1
Aug. 15
July 1
July 1
July 15
July 1
July 21
July 1
July 1
July 1
Mar. 31
Q July 1
Q July 15
July 1
July 1
July 1
July 30
July 1
July 1
July 15
June 30
July 1
July 15
July 11
July 1
July 15
Aug. 1
Aug. 1
Q July 1
Q July 1
.. June 30
Q July 1
July 15
July 25
July 15
July 1
July 15
July 15
Aug. 1
June 30
July 1
July 1
July 1
July 10
July 15
July 15
July 1
Aug. 1
Aug. 1
July 15
July 1
July 1
July 15
July 10
June 30
July 1
July 1
July 1
July 30
June 30
July 1
JTiIy 1
July 1
July 9
Sep. 1
July 1
July 31
Aug. I
June 30
July
July
July
July
July 1
July 1
AUK. 1
July 1
July 1
Q July 1
July J
July 1
Bank President
HEADS NEW INSTITUTION AT
MARLBORO, MD.
CLARENCE M. ROBERTS
Of Landover. Md.. president of the
Farmers & Merchants Bank. Upper
Marlboro. Md., which opened for busi
ness today.
W. Seton Belt of Hall Station, who
was chosen president of the institution
10 day j ago. resigned because of pres
sure of private business. Mr. Belt will
be chairman of the board of directors.
At the same time Mr. Roberts was
elected president by the directors yes
terday afternoon. Charles S. Early, for
mer sheriff, was chosen first vice presi
dent and John E. Donald second vice
president.
Washington Produce
Butter—One-pound prints, 93 score,
20; 92 score, 19; standards, 18. Tub, 93
score, 19; 92 score, 18; standards, 17.
Eggs—Hennery, 14; current receipts,
12.
Poultry, alive—Turkey hens, 12; toms,
10; crooked breasts, 10; Spring broil
ers, Plymouth Rocks, 2\- pounds and
over, 18a20; 2|ό pounds and under, 16a
18; Rhode Island Reds, 15al7; mixed
colors, 14al6; Leghorns, 14al6; hens,
colored, 13al5; Leghorns, 12; roosters, 8.
Poultry, dressed—Turkeys, hens, 15;
toms, 13; crooked breasts, 13; Spring
broilers. Plymouth Rocks, 21* pounds
and over, 21a23; 2y2 pounds and under,
19a21; Rhode Island Reds, 18a20; mixed
colors, 17al9; Leghorns. 17al9; Leg
horns, 15; roosters, 11; Long Island
ducks, 14al5; hens, colored. 16al8.
Meats—Beef, 12al3; veal, 11; lamb,
Spring. 17; Fall, 13; pork loins, 15;
fresh hams, 1312 ; smoked hams, 16;
strip bacon, 16; lard, 7; compound, 6>û.
Live stock—Hcgs, light, 4.25a4.60;
medium. 4.25a4.60; heavy, 3.75a4.30;
pigs. 4.00a5.00; roughs, 1.00al.50; calves,
3.00a5.50; lambs, 4.00a6.00.
Fruits—Watermelons, 35a65 : canta
loupes, jumbos, 3.00a3.50; standards,
2.75a3.00; oranges, 3.75a4.25; lemons,
4.50a5.00; limes, per 100, 2.00a2.50;
bananas. 1.25a2.00; plums, 1.25al.75:
figs, 75al.OO; cherries, fancy, 15-pound
lugs, 2.50a2.75; honeydews, 2.90a2.50;
honeyballs, jumbos. 4.00a4.25; stand
ards, 2.25; grapefruit. 4.00a4.25; grapes,
kegs, 5.00: blackberries, 2.00a2.50; rasp
berries, quarts, 20a25; huckleberries,
20a25.
Vegetables—Potatoes, new, per barrel,
2.50; old, 100-pound sacks. 1.00al.25;
sweets, per bushel. 50a70; tcmatoes,
lugs. l.OCal.25; string beans, 50a75;
limas, 1.00a2.00; squash, 50a75; cucum
bers. bushel baskets, 50a75; eggplant,
1.50a2.00; lettuce, Iceberg. 4.75a5.00;
homegrown. 50; corn, 1.00a 1.26; celery,
3.00a3.50; kale, 50a60; spinach, 1.00a
1.25; asparagus, 1.25a2.25; beets, per 100
bunches, 3.00: carrots, per 100 bunches,
3.00a4.00; cabbage, 50a 1.00; peppers,
2.00a4.50.
Exchange Seat Value Drops.
NEW YORK, June 28 (Λ»).—New York
Stock Exchange seat values have slipped
back a little from their recent rally
level. A membership sold at $80,000,
off $5,000 from the previous sale, but
$12,000 above the recent low.
Discount Rate Reduced.
BUDAPEST, Hungary, June 28 OP)
—The Budapest National Bank has re
duced its discount rate by 1 per cent
to 5 per cent.
FOREIGN EXCHANGE.
(Quotations furnished by W. Β Hlbbs A Co.)
Nominal gold Selling checks
value. today.
London, pound $ί ϋ??5Ρ *a oji'.c
Paris, franc ?ô Â, ?» ,,,ΐ
Brussels, bjlga olJ«a*c 23 69c
Berlin, mark 23.82c 23.89c
Rome, lira J.JéC 5.09c
Zurich, franc 1# 3c 19.48'^c
Athens, drachma 1.3c
Madrid, oeseta 19.3c
Vienna. «cliillinR... . 14 07c
Budapest, pengo.. . ij -··
Prague, crown tnom.) 2.964c 2.96 ac
Warsaw. ::loty 11.22c ......
Copenhagen crown.. .6 8c 19.8«c
O.slo. crown ^J.Jc }· ÎL*
Stockholm crown 26.8c 18.DJC
Montreal, 1211'« discount.
— .
SHORT-TERM SECURITIES.
(Reported by Chas. D. Barney^A Co.^
Allis-Chalmers Co. 5s 1937.... 63 69*<
American Chain Ço. 6s 1933... 40
American Tel. A Tel S'js 943 1001. 101
Amer. Wat Wks. & El_ 5s 1934 71 13 ;
Baltimore Λ Ohii4'js 1933 36 ·
Balding HemimAy Co 6s 1938 80 JO
Bethlehem Steel Corp. 5s 1936 .9 · 80 j
Canadian Nor Rwy. 4'iS 1935. 90 ι 91 ι
Chi Ν :rU:»estern R. R 5s 1935 90 ι 91 2
Chi Northwestern R. R. 5s 1933 52 63
Chicago Rock Island 4s 1934, . 28 4 -9 <
Cleve. Lor. & Wheeling 5s 1933 ..... 96
Cclorado & So. Rwy. 4' as 1935 72 ι ·3
Commercial Credit Co. 5'jS 1935 91
Delaware & Hudson Co 5s 1935 8o 93
Denver A· Rio Grande 4'as 1936 35 38
Gen Mot Accep Corp. 6s 1937 101 ', 101S
General Petroleum Corp. 5s 1940 100 lOOVj
General Public Service 5 Si 1939 75 80
Grand Trunk ot Canada 6s 193» 92 92 ·
Houston E. & W. Texas 5s 1933 83 93
Keystone Telephone Co. 5s 1935 62 es
Laclede Gas Light Co. 5s 1934. 77 78 j
Louisville & Nashville 5s 1937. 89 96
Ntw York Cent. A H. 4s 1934 28·. 29',
Northwestern Tflep 4 '.«s 1934. 82 #<
Penna. R. R. Co. 6'iS 1936 87 «7S
Portland General Elec. 5s 1935 8a 8i
Republic Iron and Steel 5s 1940 4β ι 48·
Sinclair Cruae Oil Co 5'is 1938 100 100 .·
Southern Pacific 5s 1W4 .... ..... ?·}
St. L I.M S. Ry R &G. 4s 1933 48S <9
Union Elec Lt. & Pow 5s 13^3 1011* 102
Union Oil Co. of Calif. 5s 1935 91 92 ,
Virginia Rwy. A p°w"A* 1934 2? 4
Wabastl Rw*. Co. 6* 1SJ8 ·» 11 «
COAL SALES AGENCY
FACING COURT TEST
Department of Justice to File Suit
Against Appalachian Com
pany in Near Future.
By the Associated Press.
The Department of Justice shortly
i will institute suit to determine the le
gality of Appalachian Coals, Inc., newly
created sales agency of the coal in
dustry.
Trial of the case before a three-judge
court is looked for in August, and a
decision from the United States Su
preme Court is anticipated in December
or January.
Counsel for the regional sales
agency and J. D. Francis, president of
the corporation, have held several con
ferences in Washington. Preparation
of evidence to be submitted by defend
ant is under way, and witnesses from
the ranks of producers, distributors and
consumers in support of the plan will j
appear.
A high degree of interest is evinced
throughout the industry and offers of !
co-operation have been received by the
National Coal Association. Other in
dustries. particularly copper, lumber and
oil, have expressed lively concern in the :
matter and voiced confidence as well as
: hope that the effort would be sue- ;
j cessful.
The National Coal Association, a
j prime mover in the action, is asking
all operators to co-operate with Appa
lachian Coals, Inc.. with any ideas or
suggestions regarding preparation of :
j the case, which, it hopes, will result in ;
general stability throughout the in
i dustry.
.
U. S. AUTO IS FAVORED
IN NINETEEN NATIONS
By the Associated Press.
Nineteen of the countries of the world
show a 100 per cent preference for the
American automobile.
A survey of the 162 gecgraphical units
included in the 1931 autcmobile census
brings out this fact, as well as the fact '
that 47 countries show 95 per cent or !
more of the cars were made In the
United States, and 57 units have pur
chased 85 per cent or more of their
cars from American factories.
As examples, 96 per cent of the cars
in Uruguay, Japan and Argentina j
came from the United States; 95 per ί
cent of the cars in Afghanistan and j
New Caledonia ; 85 per cent in China !
and Latvia; 98 per cent in Taiwan, and
99 per cent of those in the Philippine ,
Islands.
COAL OUTPUT GAINS.
By the Associated Press.
Production of bituminous coal in- !
creased slightly during the week ended
June 18. as compared with the previous
week. In the table that follows the
output is given for comparable periods,
as reported by the United States Bu- J
reau of Mines:
Week ended June 18... . 4,000,000 tons
Previous week 3,975,000 tons
Same week last year 6,635,000 tons
Price Advance Aids Farmers.
NEW YORK, June 28 (/P>— Both
packers and farmers have been bene
fited by the steady advance in the price
of hogs during the past two weeks.
Growers have reaped an immediate
profit, and packers are finding in the i
advance an additional bulwark against
weakening influences of individual price
cutting.
Anti-Trust Suit Filed.
WILMINGTON, Del.. June 28 (/*>).— '
The Stanley Co. of America, Inc., has
filed suit in Federal court against the
American Telephone & Telegraph Co..
the Western Electric Co.. Inc.. and Elec
trical Research Products, Inc., alleging
violation of the Clayton anti-monopoly
act.
The complainant attacks the validity !
and legality of an agreement under
whieh it obtained use of sound-repro
ducing equipment for its theaters.
The bill alleges the defendants have
unlawfully 'conspired to monopolize the
interstate business of supplying record
ing equipment to producers of talking
motion pictures and reproducing equip
ment for theaters.
Stores Extend Lines.
NEW YORK, June 28 <A>).—Many
stores are said to be taking on new
lines in an effort to stimulate business
in July, which threatens to be the
year's quietest month.
Late Rally Reduces Losses of
Midafternoon—Trading
Is Quiet.
BY GEORGE T. HUGHES.
Special Dispatch to The Star.
NEW YORK. June 28.—Governed al
most entirely by the dividenO news, to
day's stock market was alternately firm
and reactionary. It rallied In the
morning, sold off in the early after
noon on omission of the Atchison com
mon dividend, with a number of im
portant stocks making new lows, and
then recovered irregularly in the last
hour after it was announced that there
would be no change in the dividend on
American Can's junior shares.
The action of the Atchison board had
been expected, but the market took It
as a blow. More than any other rail
way common stock. Atchison had been
regarded as an Investment. Dividends
at one rate or another had been paid
for more than 30 years. That It should
now be necessary to discontinue pay
ments altogether was a striking com
mentary on the railroad situation
This news was not entirely offset by
the favorable declarations by Allied
Chemical and American Can. in the
case of the latter, at least, unexpectedly
favorable. It was possible to draw
almost any conclusion one desired from
the movement of prices.
The market did not go off as much
as might have bren anticipated, nor on
the ether hand did it rally with any
decisiveness. Buying incentive is lack
ing. that much is sure, but it is equally
plain that liquidation is r.o longer
pressing.
Besides the dividend actions already
mentioned. H;rshey Chocolate declared
the regular on the common.
The market was better frcm the start.
In part this was due to an oversold
condition, in part to the appearance of
support at the new low levels Teached
yesterday, and in part—although this
did not develop until later in the day
—to the fact that dividend develop
ments had been overdiscounted.
The oversold condition was revealed
In the case of Auburn Auto. Opening
2 points higher, it advanced rapidly
for a gain amounting to 6 or 7 points
at tHe best of the morning. At one
time there was "na near offer." but
that was scon remedied, presumably by
sponsors for the stock. With the per
formances of Auburn on its last ad
vance in mind, the lesson was not lost
on the bear faction.
The dividend news was mixed but
as a whole favorable Graham-Paige
omitted the quarterly dividend on the
first preferred due at this time but
only the common is traded in here and
that, selling around $1 a share, was too
low to be affected. On the other hand
Norfolk & Western declared a quarter
ly dividend of $2 on the common stock,
or an $8 annual basis against $10 pre
viously paid. This was all that could
have been expected by the most opti
mistic.
Allied Chemical. 3bout which there
had been a good deal of discussion, de
clared the regular on its common
shares and the stock ran up 3 to 4
points before meeting realizing. This
also was a piece of good news. Another
dividend development was declaration
of a quarterly payment of 50 cents a
share on General Foods common
against 75 cents, the old rate. This
had been fully allowed for in the re
cent decline, and the stock was un
importantly changed.
Standard Brands £xpands.
NEW YORK. June 28 <£>).—Standard
Brands, Inc., has formed a subsidiary
to consolidate and extend its business
in Asiatic countries. It will be known
as Standard Brands of Asia, Inc., and
direction of the company's affairs and
business will be through the head
offices of Standard Brands οί Cali
fornia, another subsidiary.
Capital Reduction Planned.
NEW YORK. June 28 <&).—Arcturus
Radio Tube Co. stockholders will vote
July 18 on reducing capital by $2.574,
000 and reducing valuation of assets to
present replacement values.
SILVER QUOTATIONS.
NEW YORK, June 28 (A>) (Noon).—
Silver futures steady: sales, 275,000
ounces. July. 26.85 bid: September,
27.07 bid: October. 27.20 bid: December,
27.41 bid; January, 27.56 bid.
NEW YORK BANK STOCKS
NEW YORK. June 28 (A3).—Over-the
counter market:
BANKS.
Bid. Asked.
Chase (21 19'j 21'»
Commercial '8' 83 89
First National < 100 > . 875 97S
Manhattan 12) 16'i 18'.i
National City <2>. 233< 2S3«
Public (2) 15'« m«
TRUST COMPANIES.
Bankers' (3> 393« 41Λ«
Brooklyn Trust 116 ) 103 118
Central Hanover c*7i 87'j 91'2
Chemical ■ 1.80 > 27 ' 2 29*2
Continental 11201 Il3, Ιΐ*»
Corn Exchange < 4 > 40 43
Empire <2 > 1334 15*i
Ouarantv < 20> 169 174
Irving (1.60) IS-1» 14H
Manufacturers' '21 167» 18'«
New York Trust > 5 > . 55 58
Title Guaranty & Trust (4 801 . 26 29
'Include:; extra
PROPERTY MANAGEMENT
Apartment House
MANAGEMENT
^OULDN 'T you be re
lieved to feel that every
time an unusual condition arose
in connection with the opera
tion of your apartment house
property that you had oi^r ex
perience and facilities to take
care of it?
It's a service that costs little
—but performs to very definite
_ advantage.
B. F. SAUL CO.
925 15th St. N.W.
NAtl. 2100
MORTGAGE
LOANS

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Evening star. [volume], June 28, 1932, Page A-14, Image 14
About Evening star. [volume] (Washington, D.C.) 1854-1972