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RAIL BONDS DROP ! TO NEW LOW MARK Public Utility and Industrial Issues Show Steady Trend. BY F. H. RICHARDSON. Eppcial Dispatch to The Star. NEW YORK, June 28.—Disturbed by further poor earning;, reports from the railroads and revision of dividends, the list of railroad bonds dipped into new low ground today in moderately heavy trading. At the same time high-grade public utilities and industrials were firm and United States Government long-term bonds held within 1-32 to 3-S2 of their closing prices Monday. Foreign dollar bonds generally firmed, after having opened easy. Banking; troubles in Chicago while j admittedly exaggerated, have again in- I ten if.:d the drift of banks and other lerg? ./vesting institutions into highly li' .d securities. As a result the recent Treasury offering of $100,000,000 in 91 day bills was subscribed about three times at an average bank discount rate of .41 per cent. Other outstanding Treasury bills were marked up to this level today. Money rates, however, were unchanged and there was no dis position to sell long-term Treasuries and Liberties at more than slight con cessions The best quality utility issues, such as Pennsylvania Power & Light 41_.s, New York Telephone 41..s. New England Tel ephone 4,2s. Consolidated Gas 5!2. Brooklyn Union Gas 5s, and American Telephone 5s and 5'2s, recovered frac tional declines and some moved higher. Industrials were also in demand, espe cially General Motors Acceptance Cor poration 6s. Midvale Steel 5s. National Dairy Products 5Us, Bethlehem Steel 5s. Standard Oil of New Jersey 5s, and Standard Oil of New York 4'is. Reduction of Norfolk & Western's common dividend was expected and had little effect marketwise, but the lack of any action by Atchison on its dividend and the decline in net earnings shown by Norfolk As Western, the Cotton Belt, Florida East Coast. Quincy. Delaware & Hudson. Illinois Central. Kansas City Southern, Northern Pacific. Southern Railway and Denver & Rio Grande Western had the effect of bringing out large offerings of carrier bonds of all classes. Declines of a point or more oc curred early in Chesapeake Corporation 5s, Chicago & Northwestern 4>2s, Rock Island refunding 4s. Delaware & Hud son refunding 4s, Great Northern 7s, International Great Northern adjust ments, Micsouri-Kansas-Texas Β 4s, Missouri-Pacific 5s, Nickel Plate 4'2s, Frisco prior lien A 4s, Southern Pacific 4Vis, Southern Railway 6'js and Illinois Central 4?is. In the foreign department opening declines in he German group were re covered and Young Plan 512s and Dawes Reparations 7s both sold at small net advances. This recovery ex tended to German municipals and cor poration bonds. South American •bonds were weak, the Argentine group being affected by a further drop in j commodity prices and lower Argentine j trade figures. Washington Stock Exchange SALES. Washington Gas 6s "A"—$1,000 at 9812. ! Potomac Electric 5%% pfd.—10 at 1025 at 102»j. Washington Gas 5s—$500 at 100. Bid and Asked Prices. BONDS. PUBLIC UTILITIES. Bid. Asked Artier. Tel * Tel. 4· as 39 IOO Am. Tel A: Tel etl. tr. 5s 99 Anaccstia A Pol R R 5s.. 38 45 Anacostia <fc Pot. Guar. 5s. .. 77 85 C. & P. Tel. of Va. 5s 100 Capital Traction R R 5s 46 51 City & Suburban 5s 40 Georgetown Gas 1st 5s IOO Potomac Elec. Co'js. 5", 102 Potomac Electric 6s 1953 107'* Wash.. Alex. & Mt Vernon ctl 2 Washington Gas 4'is 92 94 Washington Gas 5s 100 101 Wash. Ga.« 6s. series Α.. 93>i ft!'Va W'ash Gas 6s. serifs Β 100 101 Wash. Rwy. A- Elec. 4s 80 81 MISCELLANEOUS. Barber A Ross. Inc . 6!,is 50 Chevy Chase Club 5';s 99 100'a Col. Country Club 5'aS 100 103 Wash. Mkt Cold Storage 5s.... 94 STOCKS. PUBLIÔ UTILITY. Amer Tel. A Tel. <9> *77»» Capital Traction Co. f 1 ■ *9 Wash Gas Light Co <18· 65 80 Norfolk A Wash. Stmboat ( 13)..-105 135 Pot. Elec. Power 6'- Did 107'a 108 a P3t. Elec. Power 5'a', pfd.... 102'a 103 ^ Wash. Rwy A- El. com '7> 200 225 Wash. Ry & El. Pfd (5) 78 80 The following figures are not bids, but merely represent minimum prices fixed by the Washington Stock Exchange. NATIONAL BANK. Min. price. Capital <141 *175 Columbia '121 375 Commercial (stamped; < 10· 183 District <8> *196 F*d.-Amer Natl Bk & Tr. <2> *42% Liberty <7S> *190 Lincoln : 10·. •400 Metropolitan (14) 275 Rigiss <151 350 Second (9e) 165 Washington (12) 180 TRWST COMPANY. Amer. Sec A Tr Co. <15).. 299 Natl. Sav. A Tr. < 12: ι 375 Prince Georges Bk. A Tr. (6) 28 Union Trust <8s ι 191 Wash Loan & Trust (14) 400 8AVINGS BANK. Bank of Bethesda '6I> *53 Com. A Savings (10) 325 East Washington <12) *20 Potomac «loi 55 Sec Sav. A Corn. Bk. < 17) *435 Seventh Street '12>. 280 United States «30) 53· Wash. Mechanics (20) . 50 FIRE INSURANCE. American <12) 27» Corcoran (10) 150 Firemen'» <'8; .... *30 National Union (15)... *14'4 TITLE INSURANCE Columbia (6h) . . 7 Real Estate <6h> 145 MISCELLANEOUS. Col Medical Bldg. Corp (6) *90 Dist Natl. Sec pfd 60 Esntr. Bromo-Selz "A" (2) ·25'a Federal Storage pfd 80 Frd.-Am. Co com. '60c) *15 Fed-Am Co. pid. <6> . *30 Lanston Monotype <6) 58 Mer Tr Λ St?e com 50 Mer. Tr. A Ste." pfd 74'-i M'-senthalc Linotype >1 60) ... *42 Natl. Mtee. A Inv pfd <8> 3 Peoples Drug Stores p'd. <6'.-) 85 R-al Estate Μ Λ G pfd (·) ·4'; S-curity Slorate <55> 97s« Ter. Ref A Wr Corp <3> *42 The Carpel Corp <2' 9'i V' Mech Mtgr. com <8· 8 ash Med F!c!<* Corn <7) *90 Woodward * Lothrop com. < 1 20· 29'i Woodward A. Lothrop pfd. <7i ...... 105 •F.x dividend s2'r exir» bBooks closed. y21ar» extra. Ji25c extra. g3'. extrit. i30c extra h4'» extrH. if' extra *5'". extra, el'i* extra. Market Averages Ε» the Associated Press. Today Previous day Week ago .. Month ago . Year ago STOCKS. 50 20 Ind/s Rails . 35.3 * 13.2 . .. 35.2 . . 37.7 . 38.3 .118.3 13 6 15 3 144 83 5 Three years ago 222 4 142.3 F;ve years ago.117 9 115 0 High. 1932 Low. 1932 High. 1931 Lou. 1931 High, 1930 Low, 1930 69.9 39 8 35.2 13 3 140.2 JiK>? 60 0 30 8 202 4 141.6 112 9 86 4 20 90 Util Total 54 5 3Ô.3 04.5 35.3 58.4 37 9 60 3 38 5 175 9 123.1 275 4 217 7 110 2 114 2 1110 71 3 51 8 35 0 203 9 144 3 92 8 61 3 281 3 205 8 146 5 J14 7 BONDS. 20 20 20 60 Indus Rails Util. Total Today 53 9 52 1 73 3 59 7 Previous day 52 9 52 β 73 5 60 0 Week a^o 55 2 54.4 74 2 61.2 Month ago . ... 55 .1 48 9 72 ? 5·.7 Year ago 84 9 100 4 100 *> Jb 4 Two years l*o 92 4 106 1 99 8 99 4 Th.ee years aso 92 0 102 6 96.9 97.2 High. 1932 .... 71.3 78 0 85 7 78 1 !,rw 19^2 .. *?.«» 47 4 70 9 57.5 High. 1931 90.4 105 7 101 5 98.7 Low 1931 .. .62 3 62 3 80.2 68 5 High, 1930 . 94 9 109 8 101 4 101.9 Low 1930 83 3 97 3 96.8 92.6 • Ne* 1932 low. (Copyright. 1932. Standard Statistics Co.) BONDS ON NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. UNITED STATES. (Sales are In Sl.OOO.) Hlrh Low. Clot·. Lib 3%s 32-47 1016 101 101 Lib 1st 44s 32-47 101 21 101 18 101 20 Lib 4th 4Us 33-38 102 25 102 19 102 21 US 3s 1951-55.... 93 2 92 24 92 25 U S 3Hs 1946-49.. 94 22 94 S 94» IT S 3Ss M 41-43. 98 6 98 2 98 4 US?4eJ 40-43.. 98 18 98 11 98 18 ITS S 4s 43-47 98 5 98 S 98 3 US 3 \ s 46-56 100 99 25 99 25 U S 4s 44-54 102 6 102 102 US4i*s 47-52 105 104 24 104 24 Sales. Hlfh. Abttlbl PAP 5s '53 . 1 204 A'leghany Cp 5s '44 5 12 Alleghany 5s'49. .. 8 84 Alleghany 5s '50... 10 5H Allis-Chalm 5s '37. 1 68 Am F Ρ 5s 2030 10 19 Am lGCh5Hs'4i. 1 61'» Am SmARef 5s *47» 6 744 Am Sue Ref 6s'37. 1 1014 Am TAT'4 4e'39.. 46 9914 Am TST c tr 5s '4·. 16 1004 Am T4T deb 5· '«β. 48 944 Am TAT deb 5»'«6. 19 94Vi Am TAT 5 4 s '43. . 85 101 Am Wat Wks 6s '75 δ 53 Argentine 5Hs 'tî. 7 Argent is' 61 May. 4 Argantir.e 6s 59 Ju 8 Argentine 6s'59 Oc 31 Argentine 6s A'57. S Argentine 6s Β'51. 6 Arm A Co 44»'3» 90 Arm Del 5Vis 43... 27 Atchis 4s 1905-55.. 1 Atchlaon gn 4s'85. 56 Atchison 4%«'4t.. 49 Atl C L 1st 4s'52.. 5 Atl C L un 434s '64. 2 Australia 4 4s'56.. 49 Australia 5s'56.... 61 Australia 5a'57.... 16 Austrian 7» '43.... 15 Austrian 7a 'S7.... 5 Β A Ο 1st 4s '4«.... 11 BA04Hs 33 21 Β A Ο 4 Us 60 45 Β A Ο 1st 5s 43. ... 9 B*Oref5a»i 9 BAOrefS D2000. 3 Β A Ο ref ta C '85. . 1 Β A Ο PAWV 4s '41 9 Β A Ο Sw dv 6s'50.. 5 Β & Ο Toledo 4s '59 1 Batav Pet 44* '42. 22 Belgium (s'55 18 Be'glum «H* '49... 14 Belgium 7» '45 19 Belgium 7s '56 10 Bell Tel Pa 5s B'48. 12 Bell Tell Pa 5s C'60 80 Benef Loan 6s "46.. 1 Berlin Cy El 6s'55. 14 Berllr.Clty E16 4 s'51 19 BerlinCltyE16Hs'59 23 Brth Stl pm 5s '36. 18 Beth Stl rf 5s'42... 1 Bolivia 7s '69 5 Bolivia 8s 47 12 Bos A Me 4%s'61 J. 2 Bos & Me 5s '55 10 Bos A Me 5s '67.... 12 Brazil 64s'26-'57.. 1 Brazil 64s'27-'57. 3 Brazil 7a C R '52... 2 Braril 8s '41 6 Bremen 7s '35 14 Bklyn Ed 5s A '49.. 5 Bklyn Man 6a A '61 Bklyn UnGas5s'45. Bklyn Un Gas 5s'50 Burtanest 6s 62. . . Buff Gen El 44s 81 Bush Ter ron 5s'55 Bush Τ Bldg 5s'60. Calif Packing 5s'40 Canada 4s 60 Canada 44s '36.... Canada 5s "52 Can Nat Ry 44a*51 Can Nat Ry 4 4s"54 Can N'at Ry 44s'5C Can Nat Ry 4 4s'57 18 7 12 3 2 1 4 17 5 6 13 5 2 10 3 sm 35 3» 35 35 35 624 62 66 814 774 674 52'* 56 614 60*» 82 324 78'» 36'» 16'» 784 31'» 30 324 574 54 34 724 884 93 984 984 100 V» 101 65 204 354 34 794 76 34 54 464 51 61 17 164 15 19'. 36 1014 754 1024 924 22 924 33 494 Low 204 12 8 54 68 184 614 74 1014 984 100 93 94 1004 52 304 344 35 344 34", 344 60S 504 66 81 76 674 60 554 604 604 814 324 704 84 154 78 31 30 324 56 534 34 72 854 92 984 984 100 100 65 20 344 34 79 76 34 6 464 51 50 17 164 134 194 354 101 74*. 1024 914 214 924 33 484 71 34 16 78 SI 30 324] 56 534 34 72 854 | 93 984 I 984 I 1004 101 65 20 354 | 34 79 76 34 | 5 664 | 51 60 17 164 I 134 194 I 36 1014] 74*4 1024 914 214 924 33 484 j 614 514 51*» ] 734 734 734 934 934 934 894 894 894 76!* 764 764 754 754 754 754 754 754 754 754 754 lbii isai oe... it m 7ο Can Nor 4 4 s '35... 3 91 91 91 Can Nor do 64s'46 2 95 95 95 Han Nor deb 7»'40. 5 94 934 94 CanPacdb4a 11 524 514 624 I Can Pac 5s "54..... 41 684 66 684 | Car Clin Α Ο 6s'52. 9 55 54 54 Cent HI EAG 5s'51 5 61 61 61 Cent Pac 1st 4s '49. 11 65Η 64 64 Cent Pac 5s '60 4 394 394 394 | ChesCorp 5s'47... 7 384 87 S7 CA Ο 4Η» Β '95· ·· 26 71 70 70 Ph * Oh con 5a JS. 7 101 101 101 CBi-Qrf 5s 71... 2 82 82 82 CBAQ 11 dv 34s'49 1 80*4 80'* 804 | CBAQ 111 dv 4s'49.. 17 854 85». 854 Chi A Est 111 6s'51. 3 8 8 8 Chi Grt West 4s'59. 39 33*4 32 32 C M StPAP 5s'75.. 44 16 144 144 ! C M A St Ρ ad.1 5s. . 1 3*4 3*4 34 | Chi A NW pn 4s '87 5 46 46 64 ChiANW 44» 2037. 1 154 154 154 j Chi A NW 44; s '49. 41 94 9 94 ChfANW rf 5s 2037 2 184 184 1841 Chi RI&P gn 4s'88. 5 59 59 59 Chi RIAP rf 4s'34. 23 28*4 27 27 Chi R I A Ρ 44s'52 76 28'4 25 25 Chi R 1 4 V β '60 4 12 11 11 CTHASE in 5s '60.. 5 144 14 14 Chi ITn Str. 4 4s'61 1 86 86 86 Ch1 Un Sta f,s B'SS. 1 90 90 90 Chi Un Sta 6 4s'62. 14 105 104% 105 C A W lnd cn 4s'52. 11 56*4 564 56*4 I Chile Ss '60 8 44 4 4 Chile 6s'61 2 44 44 44 I Chile 6s'61 Sept... 2 5 «4 44 | Chile 7f '42 16 6 6 Chile Cor db 5s'47. J5 20 20 20 Chl Mtg Bk 64 s 61 11 164 154 16 Clev Term 4 4s'77. 2 59 59 59 Clev Term 5s Β '73. 1 61 61 61 Cologne 6 4 s '50... 5 22 22 22 Colomb 6s β ; Jan.. 10 24 24 24 Colomb 6s «1 Oct.. 3 244 244 244 | Colo A Son 44s'35 14 724 724 724 Colo A Sou 41 " s '80 4 424 424 424 Col GAE 5s '52 May 5 68 67*< 674 Col CasAEl 5s'61.. 7 67 664 67 Com Inves5 4s'49. 11 85 844 844] Con G NY 4'-s '51. 17 904 904 904 1 Con G NT iS" '45. 19 1024 J004 1024 Γοη Pwr Jap 6 4s.. 3 30 30 30 Con Pow Japan 7s. 6 38 35 35 C^nsurn Pow 5s'52 5 98 98 98 Cuba 54s 45 29 39 384 39 Cuba P. R 1st 5s '52 1 21 21 21 Cieoho 8s '51 3 87 86 87 DelAHud re* 4s '41 12 734 72 73 Denmark 44s 62.. 49 55 52 .524] Denmark 6s'42 20 704 67*4 704 | D A R (ïr cn 4s '3C. 17 314 30 30 DA R G W 5s '55. . 20 9 8 8 Det Edi 4 4s D '61. 14 914 90 90 Del Edl?on rf 5s'49 1 99 99 99 Deutsche Bk 6s T.2. 30 804 78 80 Doitre Bros is'40.. 5 694 694 69: Duquesne 4 4s'67 . 49 96"» 96 96 Dutch East I 6s'47. 3 90 90 90 Dutch East I 6s't2. 5 86 86 86 East C Sur 74s'37. 1 44 44 Erie con 4s'96 22 634 634 Erie cv 4s A '53.... 3 20 20 Erie Een 4s ">6 1 38 38 Rne ref 5s '67 33 144 134 En· ref 5s'75 32 144 13S4 Finland 5 4s'5*... 8 43 424 Finland 6 4s'56... 2 45 444 Finland 7s'50 4 47 47 Fla Ε C' as* 5s '74 .. 2 24 24 Fram lnd 7 4s'42. 10 84 84 rrench Gov 7s '49. 2 112··* 112*4 French Go 74s'41. 17 1174 1164 Gelsenk'hen 6s'34.. 11 4". 44*» Gen Cable 54»'<7· 21 34 34 Gen Motors 6s'37 .. 6 1014 1014 Gen St Cas 54s'49. 2 384 384 Ger Cent Bk «· '31. 42 364 36 Ger Cen Bk 6s '60 J 4 324 324 Ger Cen Bk 6s'60 Ο 9 314 304 Ger Cen Bk 7s'60 . 26 374 364 Ger Gen Elec Ss '48 10 28 274 Ger Gen El 7» 45.. 1 34 34 Ger Gov 54» «&...158 364 354 German 64s'50 ... 22 3Ί4 33 German Ren 7s '49. 9 55 534 GoodllopeSAl 7s'45 4 28** 27 Goodrich 6s 45 19 304 364 Goodrich 6 4s'<7.. 9 714 70 Goodvr Rub 5s'57. Γ.9 70 694 Grand Trunk 6s 'It I 924 924 Grand Trunk 7s 40. 4 924 934 Grt Nor 44s D'76. 5 42 42 Grt Nor 44» Ε'77. 7 414 41 Grt Nor 5a C '73... 22 444 44 Grt Nor 54» Β'52. 1 494 49 Grt Nor en 7a '36.. 3 56 55 Greek 6a '61 1 14 14 Hud A M adl 5· '57. 8 S2 804 Hud A M tf 6s '57.. S 694 69 Humble Oil 5s '37.. 54 994 994 Humble Ο 6 4a'32 . 1 1004 1004 Huncary 74a'44.. 1 274 274 III Bell Tell 5s 5*. 34 1014 1004 111 Cent cl tr 4s'53 . 9 314 27 111 Cent rf 4s 55. .. 12 37 36 III Cent 44» <(. .. 38 224 204 III CCSI1.AN 5s A . 8 27 254 Inland St 4 4s A'7S 2 654 654 Inland St 44s B'tl 2 654 65 Int Rap Tr rl &· '((. β 364 854 354 Λ Int Rap Tr I» »ta.. Int Rap Tr «a 'J2.. Int Rap Tr 7· Ί2... Int Cement 5» '4* .. Int AGt Ν 5s Β 5». Int A Gr Nor 6s '52. lut & tî Ν ad 6s '52. Int Hydro El 6s'44 Int Match 6» *41... Int Match 5s '47... Int Mer Mar 6s '41. Int Pap ref 6s A'47. Int Pap 6s '55 Int Rv C A 5s '72... Int Τ Α Τ 4Hi '52 . Int TelAT 44» '39. Ir.tTA Γ 5s 55 Irish Free St 5s '60. Italy 7s "51 Italy Pub 7» '52.... Japanese 5'^J 't5.. Japana.se 6 'is '54 .. Kan C EtSAM 4s '36 Kan C PSL 4 H s '41 Kan City Pou îsT.O. Kan City Soil 5s'50. Kan City Ter 4s'60. Karstadt 6s 43 . . - - Ivrespe Found 6s'36 Laclede Gas 5a 24. Laclede 5^s C"53 . . Laclede 5%s D '60. Lautaro Nit 6s T.4 . Llg A Myers 5s '51. LorlUard 7s '44.... La A Ark 6s '69.... Lou G Λ El 5s A'52. LAN uni 4s '40.... Lyons 6· '24 UcKesA R 54»'50. Market St 7» A '40. Marseille 6s '34.... Mldvale Stl 5s '36.. Milan 64s'52 Mil Ε Ry A L 5s'61. Mil El RvALf 6s '71 MStPASSMcn 4s'JI MStPSSX! 5s ctd'38 Μ Κ Λ Τ 1st 4s !»0. Μ Κ Α Τ 4s Β '62 . Μ Κ Α Τ ad1 5s '67 . Μ Κ A Tex 5s A '62 Mo Pac rn 4s '75... Mo Pac 5s F '77.... Mo Pac 1 5s Ί1. ... Mo Pac S^a A '49. Mont Tr 1st rf 5s'41 Montevideo 7s '52.. MorACo let 4H»"3» Nat Dairy 6 4 «'41.. Nat Steel 5s '56 Ν Bnc Τ 1st 5s '52. Nw S Wales 5s '57. Nw S Wales 5a '58 . Ν Y Cent 4s '42 Ν Τ Cent 4s '9S Ν Y C ref 44« 2013 Ν Y C rf 44» 2013» Ν Τ C ref 6s 2013. . Ν Y Cent db 4a 'Si.. NYC A St L 4s '37.. NYCAStL 4>is '7». NYCAStLS 4 sA'74 NYCAStL 1«t 6s '32 Ν Y Edison 5s B'44 Ν Y F-d rf 64s '41. NY EL HAP 4s '49. NY ELHAP5s'4S. Ν Y NHAH 4'Λ s '67 ΝΥΝΗΛΗ 6s 41... Ν Y OAW gn 4s'55.. NY OAW rf 4s '92. NY Rys 6s A '65... Ν ï Tel gn 4 Ha '39 Nia Sh Md 5 H a '50. Nord 64s '60 Nor A Wn en 4s '94 North Am Co 5s '41 Nor Am F.d 5s C'69. Nor Am Ε 54s '63 . Ν Ger Lloyd 4a '4Î . Nor Pac 4s '97 Nor Pac 5s D 2047 .. Nor Pac r 1 6s 204 7. Nor St Pw 6s Β "41. Norway 5s '63 .... Norway 5 H s '65... Norway 6s '43 Norway 6s '52..... laie». H!eh- Low. Close 3 S6 35'·» 354 4 16'·, 164 164 8 68'» 67 67 2 48 48 48 1 154 154 154 2 154 154 154 2 34 34 34 14 204 20 204 2 IS 14 14 5 34 34 34 4 30·. 304 304 fi 35 34 34 7 124 124 124 2 23", 234 284 20 17 16** 164 18 20*4 20 20 CO 21*4 204 204 3 75 744 75 13 864 854 864 5 61 64 61 2 47 47 47 50 59'4 58 684 4 434 434 434 5 914 91 914 4 534 534 634 5 364 36 36 14 824 814 814 12 17 16 17 7 50 494 494 8 76 75 75 7 50 474 474 1 48 48 48 30 4 4 4 4 100 100 100 <J 1054 105 1054 8 234 22 22 lfi 95** 944 944 1 74'. 74Vλ 74'» I 1 1044 1044 1044 6 284 27*4 274 1 784 724 724 1 1044 1044 1044 5 79 79 79 14 67 664 67 5 764 754 754 4 764 754 7514 5 39 384 39 1 40 40 40 33 68 674 674 1 344 344 344 6 204 194 194 4 444 444 44', 53 114 11 114 32 244 234 234 42 244 234 234 9 74 7 7 3 764 764 764 4 104 104 104 24 66 64 66 36 794 794 794 11 684 67 674 14 101 1604 1*04 12 604 604' 604 7 684 58 58 47 634 59 59 10 59 59 59 11 334 33 334 9 334 33 334 7 384 374 374 2 48 46 48 1 65 65 65 32 15 144 144 2 164 16 , 164 40 264 24 24 19 1004 1004 1004 22 108 1074 1074 4 914 914 914 16 1034 102 1034 7 494 49 49 1 65 65 65 2 344 344 344 22 46 43 43 1 30 30 30 23 1004 1004 1004 2 43 43 43 2 1044 1044 1044 22 864 854 854 8 66 65 66 1 634 634 634 2 704 704 704 8 244 244 244 2 764 764 764 2 51 51 51 22 554 544 55 3 1014 1014 1014 1 674 674 674 4 69 69 69 2 724 72 72 5 714 71 71 ΟΓβΒ-Wash 4s '*1 .. Orient Dev 6%κ'68 · Orient Dev 6s '63.. Pac G&E 5s 42 Pac TAT 1st 5s'37. Pac T&T rf 5s '52 . . Param-P"b 5V4" 50 Paris-T^y M 6s "&* · · Paris-I'V M 7s '5*.. ParU-Or 5%s '68- · Penn sta 4s '41... · Penn 4%· D 'il. · ·· Penn cn 4 H s *0 .. Penr. pn 4*As fi5. · · Penn 4V· Ρ "7· Penn 4%f '·! Penn 5s Penn cen Ss '6* .... Penn 6 H s '36 · · ·" * Penn P*L.4>,4* «*· Peop Gas ref 5s'47 . Pere Marc 4 s ΊΟ ■ Pare M 1st δβ'56... Peru is 'to Peru is 'il Phtla Co 5s '«■? . . · · · phila Elee 4s 71... Phil* * Re*'1 ·" 4* Phillip Pet 5 >4s '39 Plllsb F M 6s 4» . ■ . pCO&StL. 4%s< ' * PCC&St 5S Α '7Π. pCC&St L 68 Β 75. Poland 7a '47 Poland 8s '50. .. Port On El 4>As 60 Por Η Am Τ 6s 42 . posTel &C 5s'6I.. Prussia 6s "52 Prussia i V« '51 · public Serv 4s "71.. Pub S ν Ο 4'is '67 .. Pub Sv G 4 Va '70. . Pure Oil 5Vs'37... Pure Oil 5%s '40... Queensland 6s '47 .. Read εη4,/>«Α '97. Reading 4%s Β '97. Hem Arms 6s A '37. Rem R 5 VsA'47ww P.hlnelbe U 7s '46 . Rhine West 6s 52.. Rhine West is '53 . Rhine W is '55 ww Rhine West 7e '60 .. Rich Oil Cal 6s '44. Rio de Jan ί'ί» 'S*· Rio de Jan 8s 46 . .. R Gr Do Sut is '61. Rio Gr Welt 4s'49. R lAr&L 4V» '34. Rome 6*ί» '62 Royal Dutch 4s '45. Rumania 7s '59.... StL IM P.AG 4a'33. St I.ftSF 4» A 50.. Rt I> & S F 4 Vis "7* . Vt LASF 5s Β '50. . St L. SW 1st 4s «9. Sao Pau 7s '40 Sao Paulo 8s '36 . . . Saxon I' W «V*s'51 · Saxon 7s 45 ..■ · Seabd A L· 6s A '4 5. S#rb8?Cr-Sl 7s 6J . Serbs-Cr-Sl Is i2_.. Shell Πη Oil 5s 4 ι . Shell Un 05a'49ww Sine OU 6 Ά s Β 3S. Sine Oil 7a A 37... R ne Cr Ο 5 V® '3* · · Pkelly Oil 6',4s Ί9. Solvty Am 5s '42 . . Sou Bell TAT 5a '41 SW Bell Τ 5S A 54 . Sr.u Pac col 4s '4i>.. Sou Pac ret 4s '55.. Sou P*c 4 'λ s '68 . .. Sou Ρ 4Vis 69 ww. Sou Pac 4 Vs -Il Sou P*Or 4 Vis A 7 ι Sou Ry 6Vis 6* st OU Ν j 5S 46. . . SI OU NT4*«'H. Sweden 5 Vs '54 . .. Su Isa 5 Vs Taiwan Ε Ρ IH«'71 Tenu El Ρ «a A 4T . Te* Corp cv5i 44. Tex & Pae 5s Β '77. Tex Λ Ρ 5· C 79 . ■ · Tex & Ρ 5s D ΊΟ... Third Αν rf 4s to. Third Av adj 6a «0 Tab P.NJ 6Η» 2ft»2 Toho El Pw 7s "66.. Tokio 5'/is il On F.1PSL ref 5a 3». Un Pac 1st 4s '47 .. Un Pac 4s '61. ... . Un Pac rf 4s 2001. Un Pac 4 Vi s 67... Unit Drup ο» 53.. tltd Klnc 6 V4 * 37 . U S Rubber 6» '47 .. Un St W «H» A'47. Ud St W ·%■ A'61. 1 70 70 70 2 3 8 H J8W 38't 14 4ÎV 41M. 41V 15 100'» 99 V 100 1 101V 101V lfllV 9 100 100 100 2 14V 14V 14'» 2 10?!'. 10SV 103'. 1 103% 103*. 103*, 1 102'» 102 V 102'* 1 87 87 87 5 «15·. 61% MS, 2 89V 89'i 89'« 3 66V 6614 66V 1" 43 42V 42V 1 64*i 64*. 64*. 1 64V 64', 64 Ά 1 74*. 74*t 74*. 19 87 V 86 V 86 Η IS 82 81% Rl% 6 90 Η 90'4 90', 12 SS 81% 31*4 2 35 84'/» 14'4 9 4 3 3% 2 3'<i 3 3 6 75% 75 75 7 87 86',4 87 4 SI Η 31 31 21 56 V 56 56 1 92 92 92 8 60 60 60 3 67'/* 67 67!·», 11 65 64 65 13 45 44 44 6 46 46 46 23 42% 38 40 5 17 15(4 15 W 13 15'4 15 15 5 22*4 22 V 22'Λ 18 23% 2314 23'4 10 87'. 86*, 87»,4 IS 96T* 96", 98"» 9 96 96 9*". 6 64 63 63'4 11 61 60 60'i 30 65 64', 65 5 64 64 64 2 66 66 66 1 40'/4 40'-4 4 0 ' « 7, 35 33', 33', 12 29 28'. 29 12 34 32' 4 34 32 S3 31'4 33 29 33'4 30% 33V 1 37 V 37', S7!i 2 10 10 10 2 5V 5'i 5 V 1 7*4 7% 7% 1 6'4 6'4 6V 1 30V 30*. 30% 2 24 23',4 24 15 70 70 70 S 70 69% 70 2 S3 V 33 33 16 4 7'4 4614 46V 15 11'4 10'4 101, 116 10'/« 9 9 1 13V 13V4 13'» 1 54 54 54 10 57% 56V 5614 5 30', 29 29 46 25% 22*» 25% 28 30V 27% 30', 1 2 V 2 V 2". 15 27 25V 25V 25 S0% 30 30 49 55 52V 55 4 52V 52% 52% 50 8SV 83 83 24 86 86 86 28 100 100 100 16 58V 58 58 6 82 82 82 3 100 V 100 100 1 100 100 100 5 34 33V 34 7 65 65 65 4 32V Î2 32 11 30% 29V 30 38 31 30 30 £6 51 50V 50V 4 19'. 19 19 35 101', 10P. 101% 12 85 84 84 18 80 79 79 6 103', 103', 103', 1 38V 38V 38', 17 tO'4 90 90 7 74 V 74 Vi 74'. 3 35V 35 35V 5 35V 35V 35V S 35 35 85 4 41V 41 41 13 19H 19V 19V 42 84V 83 83 7 43V 43 43 11 89% 38% 38% 17 102 1P1V 101% 17 91 90', 90 V 8 67V 67 67 1 76 76 76 3 73 73 73 7 68 67*. 68 79 102 101V 102 2 30 SO 30 29 25% 24% 25% 18 26V 24V 26H BUSINESS OUTLOOK DECLARED BETTER Bradstreet Official Bases Statement Upon Interviews With Trade Leaders. Special Dispatch to The Star. NEW YORK, June 28.—The business outlook is better than it has been for several months, Ε. B. Moran, executive sales manager of the Bradstreet Co., said upon his return from the annual convention of the National Association of Credit Men, which was held at De troit last week. Mr. Moran explained that his statement was bared not on'y upon his own researches in the business field, but upon talks ihat he 1:>α with business leaders Irom all over th.; coun try who attended the convention. Signs of Recovery. "Industries," said Mr. Moran, "are learning to make a profit at a lower ratio of production to capacity, and the whole distortion that was - preva'ent during the past 10 years is being ad justed back to normalcy. "It is likely that February and March saw conditions at their worst. Since then business failures have declined and the decline in price levels has been, at least, somewhat leveled off. "As soon as the world consumes what has been produced, so that demand is in a closer relationship to supply, then and only then will good production begin again. "Already we see certain signs of this Orders for locomotives are considerably above the last year, showing that the railroads, who have been buying prac tically no equipment for so long, are now, with the aid of the Reconstruc tion Finance Corporation, making sonic badly needed purchases. "The present level of steel operations appears too low to supply the country's needs for long. If further cause for confidence needs to be established, this industry and others, seem bound to re vive. "Stocks of cotton textiles have been brought down by keeping production below shipments until they are about 60 per cent of what they were during 1930. Stimulated by hopes of more re sults during National Cotton week, how sver, production picked up, while pur chases did not materialize, and Brad street's index of cotton textile stocks, which is adjusted for seasonal variation, rase from 67.6 in March to 69.5 in April "■While this is not sufficient rise to cause any undue alarm, it is progress In the wrong direction and has undone what had been accomplished up until that time. Foreign Situation. "The foreign situation is still acute, but since the United States is very nearly self-sufficient this should not be viewed with alarm. The news that European gold withdrawals have been practically completed should do some thing to inspire confidence. "Elections are approaching, and while the Republican platform has not of fered anything radically constructive, as was expected, it threatens nothing radi cally dangerous. "What is most important of all, we have so far successfully evaded any dangerous Inflation. This is a most favorable and tangible sign. If the panic was caused by inflation recovery will be brought about only after deflation." I 1 COKJrOK ATIOJN REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK. June 28 —The following is today's summary of important cor poration news prepared by Standard Statistics Co., Inc., New York, for the Associated Press. Automobile and Trucks. Graham-Paige Motors passed quar terly dividend on first preferred stock, ■jn which $1.75 was paid April 1. Automobiles and Trucks. Wilcox-Rich Corporation omitted dividend on class "B" stock: last dis tribution was 7'» cents on April 30. Electrical Equipment and Radio. General Electric Co.—New air condi tioning department to start commercial opérations next month in 25 cities: do mestic oil furnaces to be first products. Food Products. General Foods Corporation declared quarterly dividend of 50 cents on com mon stock; previously 75 cents was paid quarterly; president states first half rarnings equaled $1.50 a common share. Oil. Standard Oil of California marked up •etail gasoline prices 2'2 cents a gallon it all stations. Union Oil of California advanced price of gasoline 2'a cents a gallon. Railroad and Railroad Equipment. Atlantic Coast Line Railroad May ■let operating deficit, 8225,118 vs. net operating income, $840,730: 5 months' net operating income, $1,338,361 vs. $5,734,344. Central Railroad of New Jersey May net operating income. $6,080 vs. $366, 108: 5 months. $1,570,254 vs. $2,132,947. Chicago. Milwaukee. St. Paul & Pa rtie Railroad May net operating deficit, il .248 602 vs. net operating deficit, $195,203: 5 months' net operating defi cit. $1,458,800 vs. net operating income, $1.635,603. Chicago, Rock Island & Pacific Rail way May deficit after charges, $1,043. 363 vs. deficit. $72.737: 5 months' deficit after charges, $4,555.964 vs. deficit, $539.908. Illinois Central Railroad May net op erating income off 35.8 per cent. Minneapolis At St. Louis Railroad May net operating deficit. $163.355 vs. deficit, $41.450; 5 months' deficit, $350. 160 vs. deficit, $73,913. New York Central Railroad May net operating deficit. $226.942 vs. net oper ating income, $2.852.461; 5 months' net operating income. S7.293.194 vs. net op erating income S12.991.36I. Northern Pacific Railway May net operating deficit, $61,299 vs. net oper ating income, $34,335; 5 months' net operating deficit, s 1,541.924 vs. net op erating income, $425,431. SalPS. H'.ïh Low. Close ITd St W 6 >4 s C "51. « 25V, 2f>'/< IJrupuay 6s SO . ... 1 22 22 [TruRUnv «s'64 . .. . 2 22'i 22 Utah Ρ ft LEs'44.. 7 64'j 64'4 Util Pw 5s '69 ww. 20 17·, 17 Util Pow S Via 47.. 2 19'j 19 Vanadium St 5s'4t. 1 37 37 37 Vienna 6s 5; 5 48 45*4 48 Va Rv Si Pw 5s '34. 1 97 97 «7 Va Ry 1st Os A '62. 4 76 75'» 76 Wabash lit 5a'S3.. 1 57 57 57 Wabawh i»3 Β'76... 9 fi'. 6'i Wabash 5s D'80... 1 6', 6', Warn Br Pic 6s 39. 15 14 12«« Wnrrt Quln 6s 'S'J. . 2 17 17 Warner Sus îs '41. 1 9Κ*·4 9$'» Warren Bros 6s '41, 1 27 27 Warsaw 7a *58 16 32 31 West Sh 1st 4s 2361 1 70 70 West K1 <1b Da «4 .. 13 93 92H West Md 4s A 52.. 28 46H 46 West Md 5 Vis '77.. 6 43 42'a West Pac 5a'46.... 2 26'4 26 West Unton 5s'51. 5 46 45 West Union 6s 60. 1 46 46 V est On «Via S6.. 1 Λ9 59 Westphalia 6s "RJ. . "JO 19 18' j Wh Sew Mch 6s '4 0 8 20 20 Wl! ft Co 1 st 6s 41. 6 66 64*« Wis CentTm 4s'36. 2 3· 30 Yokohama 6s '61... 2 44'i 44 Teatn SftT 5s A'78. 12 55(* 55 Ygatn SftT 5a Β'7·. 3 55 66 A ν NEW YORK, June 28 Ο*).—Stocks I irregular, leaders move widely on divi dend news. Bonds irregular, U. S. I Governments steady. Curb irregular. I changes narrow. Foreign exchanges J steady, sterling easy. Cotton steady, | unfovorable weather; spot house buy ing. Sugar lower, easier spot market, j Coffee quiet, trade buying. CHICAGO, June28~</P).—·Wheat firm. J unfavorable crop reports North Dakota; firmer cash market. Corn steady, im proved cash market; unllish weather forecast. Cattle steady to strong. Hogs active and higher. BONDS ON THE Cl'RB MARKET. Sales in DOMESTIC BONDS. mousauds. H";" Low. cl,f.sie 9 Alabama Pw 4'as 6» <1'j 71 ζ 71 ^ 13 Alabama Pow 5s '58 30'« M < 8U 4 11 Alabama How 5s 68 83 80% 83 5 Amer G & Ε 5s 2028 74 2 74 74 β Amer G & Pow 5s '53 14'^ 14% 14 « 4 Amer Ρ & L 6s 2016. 44 4 44 44 1 Amer Koll M 4'.4s 33 47U 4i'. 4.U 5 Amer Roll Mill os ;48 39 3a 39 4 Appalach Pow 5s 56 80 80 80 4Arkans Ρ it L 5s 56 .3 β i3 73 7 As™ E!ec Ind 4';s s! -.0 18 19 2 25 Asso G & Ε 4'fS49C 10% 10 10 lu A s so Gas & Ε 5s a0 13-β 13 13 « 18 Asso Gas Λ El 5s 68 13 2 13 13 2 As G&E 5' jS '38 m ci 2 1% ' '2 1 Asso G & Ë 5%s (7 Jjj ,U, 4 4'^sd Τ A Τ 5 ;S A 55 26 25 * s 4 As Tfl litil 5'iS 44 C 16 IS » 2 Bell Tel Can 5s Β '57 11% 85'{ ïluff alnal! a ; se 103; 2 103-2 ios>, 2 Cent An/. L4P 5s 60 .4>2 >4 <4 5 Cen IU Ρ S4;,sP ,67 5a 54 55 5 Cent Pow Λ. Lt 5s ;56 50 49 3 Cent Pr.b Ser 5'_-s 49 2 ?. 2 SgSt îlatvt%>ïl '54 22-: 21% g;î 7 Cent si PAL 5%s ;53 22;, 20% 20', 1 Chi Dis Elec 8%s 3a 50,« 50 « 50 4 4 Cinci Str Ry 6s Β 55 4a 2 45 2 4a 2 81 Cities Service 5s 50 26 » 26 . 26 » 4 Cities Service 5s 66^ 25 Zft 9 Ci' Serv Gas 5',s 42 41 2 41 41 h lea Ser Gas Ρ 6s ,43 54% 54% 54 , 7 Ci: Serv Pow 5%s o2 29 » j.8 » 29 , 4 Comwh Ed 4'.s C 56 81 4 8H4 81 4 7 Com w h Ed is 4s F 81 12. 2 ·2 4 U h 5 Commun! P4L 5s \VT 42% 42% 1 Con G Bal 4 '4s H ;0 99 99 »» 2 C011 Gas LUI 6s A ,43 22 4 21 » 21a 2 C'oiKum Pow 4!.s .->8 wO ζ 9ϋ SMJ 2J Cont GiE 5 s A oa 44 42;.: 43 4 1 Continen Cil a%s 37 84 4 84 4 84 1 1 Crane Co 5s 10 59 53 a9 4 c. dahy Pkg 5%s 37 <0 70 70 1 Det C Gfs as Β 50 69% 692 b9 j 1 East Ut Inv 5s Κ ,54 Î 2 9 · J i 2 Edis El Boston 5a 33 101-a 101; » 101 a 16 Elec Ρ & L 5s A 2030 33 29 » 33 1 Federal Wat 5%s '54 24% 24% 24 2 2 Firestone V M 5s 48 68 66 66 6 Firestone Tire 5s 42 75 73 74 4 3 Fisk Rubber 5%s 31 22 21 .2 21 2 37 Florida Ρ & L 5s 54 55% 53 2 53 2 11 Gatineau Pow 5s 56 55 54 2 54 2 1 Gatineau Pow 6s 41 «'4 43 4 43 4 10 Gatineau Pw 6s Β 41 40 ι 3B 39 1 Gen Bronze 6s 4° . 2J'z 23 2 23 2 2 Gen Mot Acc 5s 33 100». 100'. 100 ·. 3 Gen Mot Acc 5s '36 96% 9®,8 s?.e 4 Gen Vendins 6s '37 1 4 3 4 3 4 11 Georgia Power 5s '61 76% 76 7b 5 Gillette S Raz 5s '40 85% 85% 85% 1 Gulf St Util 5s A '56 64 64 64 1 Hous Gulf G 6s A '43 30 30 30 5 Houst G G 6%s '43 25 25 25 10 Hous L&P 4%s Ε 81 80 79% 79% 8 Hous L & Ρ 5s A 53 90 89 90 1 Hygrade Fd 6s A '49 25% 25% 25 2 1111 Pow & Lt 6s A '53 62'4 62% 62% 10 lil Pow 4 Lt 5s C '56 56% 55% 56% 1 Indnap P&L 5s A 57 84 84 84 5 Int Ρ Sec 6%s '55 C 56 56 56 4 Inter Pw Sec 7s Ε '57 65% 65' i 65J i 7 Intern Sec Am 5s '47 38'2 38'. 38'2 5 Intersta Power 5s '57 52 » 52'2 52'2 5 Intersta Power 6s '52 25'β 25 2,i 6 Interst Ρ S 4Vas '58 F 54% 53% 53% Ilowa-Neb L&P 5s '57 65', 65% 65% 5 Jer C P&L 4Us C '61 78% 77% 78 1 Jer Cen P&L 5s Β 47 89 89 89 5 Kans G&E 6s A 2022 67'= 67% 6T2 1 Kansas Pow 5s A 47 71% 71% 71% 3 Kefitucky Ut 5s H '61 60'2 60', 60'2 SKopper G&C 5',s '50 64% 6414 64% 2 Lexington Util 5s 52 58 58 58 1 LiBby McN Λ: L 5s '42 51 51 51 1 Long Island Lt 6s '45 74 74 74 16 La Ρ & L 5s '57..-. 72% 72% 72% 1 Manitoba Pw 5'2S 51 38 33 38 8 Ma:.sachu Gas 5s '55 71 71 71 5 Memp Ρ & L 5s A 'g 94^» 94', 94^, b Mid Wes Ut 5r, "35 cv 4% 4% 4 '2 2 Minn G i Lt 4'„s '50 74 74 74 4 Mies Pov A Lt 5s '57 67 67 6/ 9 Mont L H,tP 5s A 51 85 85 85 7 Nat Ρ & L 6s A 202« 62U 6Γ2 62'4 19 Nat Ρ & L 5s Β 2030 53% 52 53'a 1ft Nat Ρ S as "18 12 11' ■ 12 , 1 National Tea 5s '35., 62^4 6234 62'4 15 Nev-ida Calif 's '56. .60 59 59 10 New Ens G&E 5s '48 44»i 43»« 43»« 14Nrw Eng G&E 5s SO 43'» 42 42 8 Nev Knii Pow 5s '48. 36'2 357« 30 2 New Eng P»' S'as 54 38'» 38'» 38'» 8 Ν y Ρ A L 4"2S 67 83 '« 82'2 82'2 1 Nlag Falls Pow 6s '50 99 99 99 4 Nor Ind Ρ S 5s D '69 TO 70 .0 2 Nor Stat Pow 41 ^5 '61 81 81 81 2 01)10 Edison 5s '60 87'» 873e 87 * 5 Oluo Pb Ser 5s D '54 KO 80 80 5 Okla Gas it El 5s '50 76 76 76 1 Pacific G&Ë 4'^s '57 85'2 85'2 85'2 4 ?ac G A- Ε 41 i'S F '60 fl6'J. 86'. 861» 1 Pacific G&E 5s C '52 99 99 99 5 Pacific F» & L 5s '55 6234 62 62>4 1 Pac Wes Oil fi'j.s '43 55 55 55 2 Pa C:n P&L 4'2s '77 68 68 68 2 Penn Elec 4s '71 F 6434 643< 6434 2 Penn Ο Ed 5'.is Β 59 52 52 52 5 Pa Ohio Ρ 4L 5'2s '54 89'·» 89·. «9»» 7 Peoples L Α Ρ 5s '79. I't 1'4 l'« 7 Phila Elec 5'2s '72 10Γ. 101J4 10134 4 Pi,'dint Ei 6'2s Λ 60 4 0 40 40 2 Prcct & Gam 4'jS '47 993i 991. 9»34 9 Pub S P&L 5'4S A '49 59 58s» 58'» 1 PUK S PAL 4'2S 50 D 54'» 54'» 54'a 23 Remington 5'_.s A '33 73 71 72'2 6 Safe H Wat 4'2* '79 91 90'i 90'2 3 Shaw WiP 41 2s A 67 561 i 56'^ 56:2 3 Shaw WAP 4'us D 70 57'4 57'4 57N 4 Shaw W4-P 5s C '70 64 64 64 20 SE PAL 6s A 2025 xw 53' 2 523i 53 '2 4 South Calif Ed 5s '51 97*. 973» 97''» 5 Sou Calif Edis 5s '54 9734 96' ^ 96'2 1 South Cal Gas 5s 37 74'« 74*4 74'4 esothv, P&L 6- A 2022 44 4312 44 6 Stand Gas & Ε 6s '35 45' 4 44'2 45 2 Stand G&E cv 6s '35 44'» 44 44 20 Stand Gas & Ε 6s '51 35 34 » 35 • 1 Stand Gas A Ε 6s '66 35 35 35 2 Stand Inv 5s 37 xw 53 53 53 9 Standard P&L 6s '57 33 32'a 33 1 Eun Oil 5'2* '39 92'j 92'2 92'i 2 Super of Illin 4'^s '70 58 58 58 7 Swift Co 5-, 40 wi.. 80 7934 7934 1 Swift Co 5s '44 ... 96'i 96'2 96'2 1 Tenn Elec Pow 5s '56 827» 827a 82'» 15 Texas Elec 5s 60 wi 71'2 69 69 2 Texas Gas Ut 6s '45 In 10 10 1 Texas P&L fis 56.. 74 74 74 1 Ulen A; Co 6s '44 ... 10 10 10 1 Union E&P 5s Β 67 98 98 98 8 Union Gulf 5s 50. 91 91 91 14 Uni L*. & Ry 5'2s .2 35'; 35 35'j 4 Unit P&L e'i,s '74 36'. 35 36'» 2 United Ρ f: L 6s '75 36'. 36'4 36'» 4U S Rub 6' l'S '37 23 27J4 27'4 1 U S Rub 6'2S '38 29 29 29 3 U S Rub 6'.s !0 . 29 28'.· 28'i 1U S Rubber 6s 33 66>4 6634 6634 3 Va Pb S-r 5'2s A 46 56 56 56 1 Va Public Serv 6s 46 36U 36!4 36'4 3 West Penn 5s 203Q 443« 4434 4434 17 wes Tex Ut 5s A 57 38 36'» 36'» 1 Westvac Chi r>'s '37 100'4 100'.· 100'j 1 Wiscon PAL 5s Ρ '58 71',4 711 ^ 71'2 FOREIGN BONDS. 2 Cent Bl; Ger 6s A '52 31 30 31 5 Cent Bl: Co 6s Β '51 39 39 39 50 Com Pr Bk 5'.s '37 . 37 35'4 37 6 Eur El CP 6'as '65 xw 40 39'.. 39'; 1 Europ IvltR 7s C '67.. 313® 313» 313» 1 Farmers' Na M 7s '63 22 22 22 5 Finltl Ind Bk 7s 44 . 50 50 50 13 Finld R M Bk 6s 61 34'2 32 34'j 7 Ger Cuns Mun 6s '47 25 241» 247» 9 Ger Con Mun 7s '47. 26 25'* 25'.· CHamliSi.U 5'jS C 38 34'·. 34'a 34». 9 Hun It Β 7' s AC 63. 31'4 31·» 31s. 10 Iserto Hyd El 7s 52 . 4M 49 49 3 Isoita Fras 7s '42 xw. 43' ^ 43'2 43'.. Ilia! Sup Pow Gs A 63 24'.· 24'., 24'j 7 Nippon El Ρ G'^.s 53. 31 «4 31'4 31', 8 Prussia Elec 6s "54... 26'4 24'» 263< 1 Rio de Jan 6'_.s '59.. 3'. 3'4 3!4 29 Ruhr G Co 6'.·s A '53 29 26 27'2 4 Rtiss β'·.» ctf Ν C 19 ί 34 34 1 Santa Fe Aie 7s 45 . 22 22 22 84 Saxon Pub Wk 5s '32. 44 4l'4 41 ' i 1 Stinnes 7s '36 xw. . 25'i 25'4 25'4 1 Terni Soc 6'2s A '53. 437. 437. 437. 12 Tietz ,L' 7'ii '46 WW 30 29 30 3 Unit Indust 6'_s '41. 32 31 32 ww—With warrants xw—Without war rants. n—New. wl—When Issued. CHICAGO STOCK MARKET CHICAGO. June 23 (JP).—Following is the complete official list of transac tions in stocks on the Chicago Stock Exchange today: Sales. High. Low Close 2 250 Bendix Av 5'. 5 5'» 100 Born-Warner 37. 37» 37. 50 Cent 111 Pub Ser pf . 30 29'a 30 100 Cent 111 Sec 3„ '4 V, 400 Cent 111 Sec pi 7'2 6 6 59 Cent & So West -4 34 34 80 Chain Belt 20 10 10 1150 Cities Serv 2'» 2 · 2'» 1000 Com'wlth Edis 53 50'4 52 650Cont Chi pf β3» 8 8 250 Cord Corp 2*. 2'2 25» 400 Grigsby-Grunow 'a '·_· 20 Ky Ut Jr cum pf.... 15'< 15'4 15' 4 100 La Salle Ext ' 2 '2 '2 200 McGraw Elec 3 3 3 103 Mlckflberry s Fd 4'2 i'2 4'j 2200 Mid West Util 3. '4 '4 20 Mid Ut βΓ· 61 3 3 3 21 Musk Mot Sp A ... 4 4 4 550 Nat El Pow A '4 'i '4 100 Nat Sec Inv pf 27'a 2T 2 27'j 100 Noblitt-Sparks !'! II7» 12 5.) Nor Am Car 2'· 2:. 2'. 150 Nor Am L & Ρ 5'4 5'4 5'4 70 Quaker Oats 6434 63'2 643i 33 Quaker Oats pi 97'a 97'2 97'2 W· Rjth Pick 15 15 15 £0 Rollins Hosiery 7 7 7 20 Shuler Co A 4'». 4'2 4'2 10 So We-t G & Ε pf.. 34 34 34 5C h>tand Dredg pf Ill fOO Swift & Co 10 934 10 1700 Swift Int! 17', 16'a 17 100U S Gypsi'm 11'4 ll1» 11'· 300 U S Rad & Tel 5*4 5s. 534 600 Util & Ind 5. '■* -, 100 Walgreen 9^a 9·3» 9'j 40 Ward Mont A 25 24 24 100 Wis Bankshre 2 _ 2 2 50 Zenith Rad V4 '4 'a Stock sales today. 15.000 shares. Bond sales today, none. BALTIMORE STOCKS. Special Dispatch to The Star. BALTIMORE, June 28.— Sa'es Last sales. 50 Arundel Corporation 15'2 11C & Ρ Telephone Balto pfd Ill'» 25 Consolidated Gas com 44'1 12 Consolidated Gas 6·. cum pfd D 104 38 Manufacturers Fin Co 2d pfd..., 6 11 Ο 3 Fidelity ii Guaranty ». 2V4 Ν. Υ. CURB MARKET Received by Private Wire Direct to The Star Office. Stock mnd 8*1·— f Duid«nd Rate. Add. #·. Hialv Low. CI·» Aero Supply A 1 Jj Jj Aluminum οf Amer 300» -31» -3 Alum Co. Am pf(i).100s 34*4 34»» Alumn Gooda(SOc). 1 8·* 8·* Alumnl,td cu pf(3) 2 25 24'» Am Beveras® " ">'* ° Am Cities P4LB. 1 % '* Am Comwlth Pw A. IV»'» Am Cyanamid B.. .. 16 2 Am Gas A El (tl).. 45 I6;· 15'* Am Superpomer 57 1% l'a Am Sup'pwr 1st pf. 10 35'» 35 » Am Superpower pf. 4 1» 9 Am Yvette 1 '» v* As El lnrt lad klOc. β 2»» 2Λ. Asso Gas & Electric 5 % '» AuoQ&ËA bÎ%, 25 1% 1'» Atlas Utllltiea 2 5'. 5 Auto Voting Mach., 2 2 2 Benef Ind Loan 1H 2 8'» 8'» Brazil TL&P(1>»% ) 24 8'» 8 Rrlt Celanese rots.. 1 a» % Bunker Hlll 4 Sul.. 25s 16 16 Canadian Marconi. 2 Ν H Cant Pub Sv A 2 Vi it Cent States Eiec... 1 % % Centrifug Pipe 60c. 6 2 2 Cities Service 60 2'» 2 Cities Service pf... 1 12% 12'·» Cities Sv I'&l. pf 100* 14·* 14 Cities Sv r&L $7 pf 50a 18 18 Claude Neon. Inc. . 5 H U 's Comwth Edison II) 1 51'.· 51'» 61'» Comwlth A Sou wai 2 ft & ft Cons Gas Bait 3 60. 4 44'» 44 44 Cont Shares cv pf.. 3 '» '» '« Cord Corp 4 2% 2H 2% Corroon & Reynolds 11 1 1 Cosden Oil 2 '» V» Creole Petroleum.. 24 2% 2'» 2'·». Cresson Cons 1 '» V* % Cusi Mexlcana Min. 9 % H V4 Deere 4 Co 1 3*4 3*4 3*, Dow Chemical 1 23^4 23V4 23'4 Driver Harris 1 2'» 2H 2'» Duke Pow (5) 50· 35 35 35 East G A Fuel Asso 13 3 3 Eastr G&E pf (6). . 50* 22 22 22 Klsier Elec Con». .. 4 1'» 1% 11» El B<1 A Share t,6% . 62 6'» 5% 6 Elec Bd & Sh pf (i) 5 17'^, 17 17·» Elec Β AS pf <6).. 1 21 21 21 Elec Pwr As(A)60c 1 2H 2% 2·» Elec Sharehld pf a6 2 24 24 24 Eureka Pipe L ( 4 ). 50s 22 22 22 Europ El Ltd A 30c 2 21» 2'2 2*-» Falrchild Aviation., 1 Η Η Η Ford Motor Can Α.. 4 6'» 6** 6% Ford M Ltd 4 2··* 2% 2% Fox Theaters (A).. 1 % % Ή General Alloys. ... 7 1*» IV» General Aviation.. 1 IS 1% Gen G&E1 cv pfB a6 1 4£« 4% Geldman Sachs. ... 4 1% 1% Ot A A PTea pi (7) 40s 110 110 Oulf Oil of Pa 7 24'i 24·» Hartford El (2.73). 25s 36 36 liec.a Mining 1 2"» 2*» Holling Gold t70c.. 1 4'i. 4M» Hudson Bay Min... 1 1'» 1V4 Mumble Oil (2).... 1 37 37 III Ρ & L pf (6) 25a 29'» 29'i. Imp Oil of Can 60c. 1 7Mi 7^* Imp Oil Can rg 50c. 1 6% 6"* Ins Co Ν Am (2)... 1 22% 22% Int Petrol (1) 7 8'» 8V4 Int Util Β 2 % % Interstate Εα cv pf. 1 5'·» 5*» Interstate Hos k40c 1 5'ϊ 5·» Italian Superpw Α. 5 Η % Kleinert 1 3e» 3% Lefcourt JJltjr 1.60. 1 l'a 1'» Lone Staiwï tl>64c). 2 3% 3% Magdalena Syn.... 1 ft ft Mass Util cv pf 2',4 100s 17»» 17'_« Memphis Nat Gas.. 2 2 1* Mergenthalerfkl Mt ) 100s 19' 1 19'a Met Edison pf (6). 50s 35 35 Mid Sta Pet vtc A.. 3 % % Midi West Utilities 6 V» % Mining Corp of Can 1 '» % Mo Kans Pipe L. .. 2 ά ft Mock Judson Voe.. 2 3K 3'* Mountain Prod SOc 13 3 Natl American.... 2 % % Natl Aviation 12 3'» 3'» Nat Bnd A Sh (1 ).. 3 18'-» 18U Nat Elec Pwr (A).. 2 % % Natl Fuel Gas <1). 1 9'» 9'* Nat Investors pf. .. 50s 23 22% Natl PwALt pf 16) %2 47 47 Natl Sugar Ν J (2) 2 19W 19·» Natl Transit il)... 1 6'» 6 . Nelson Herman.... 1 3*» New Bradford Oil. 1 % "" Ν Y Tel pf (6H > ■ · · 75i 104 i0·1'·' Ν Y Transit (40c).. 2 2V« 2·» Nlag Hud Pwr(n).. 5 9U 9 NlagH Pwr A ws η. 1 J» Ji Niles-Bem-P (60c). 1 4% North S Pw pf (7). 100s 67 61 Ohio Copper 1 ft ft Patterson Sarg (i). 2 10 10 Penroad Corp 8 1'* 1'» Phila Co new( 1.40). 1 <% 7% Phil Morris Inc 1 2 2 Phoenix Secur Corp 6 *4 % Phoenix Secur pf.. 1 8 Plymoi th Oil k50c. 2 b 6 Prudential lnv 1 2 « J/» Pyrene Mfg. · · ·· · ·· 4 * Radio Prod 1 3 3 Reliance Intl A .... 3 % % Richfield Oil Cal pf. 1 * ·« Roosevelt Field. .. 2 % % Ryan Consolidated. 1 » H at Anthony Gold... 7 it λ Secur Allied <11... 1 23^, ; gMT.WlHV. 2 30X 30% 30%; Select Indpr(5%)n 1 30 30 30 Shenandoah Corp.. 1 % » South Penn Oil (1). 2 12Λ 12* 12» Southland Roy 20c. 1 3Vi 3V» 3 , so West Gas Util.. 5 % Jfc * Siand Oil Ind (1).. 46 18 17% 18 Stand Oil Neb (1).. 1 10 » 10% 10· Stand Oil Ohio 2H · 5 20 19W 19· Stand Ρ & Lt (1.20) 1 7 7 I Stork and ·»!·— Divider d Rate. Add W. HltM. Low CloM. StandP&LB (2)... 6 8 7*·» 7'* Stand P&Lpf (7).. 60a 23', 2S'i 23·, Stand Pub Srr A... 4 1», lH 1*, Sunray Oil 6 ', ^ '« Swift & Co (1) 8 9-', 9». 9», Swift Intl (Î4) 4 17 16·, 17 Tampa Elec 2.Ï4... 1 19'i 19W 19', Tach Hughes (ÏOc). 8 3'» 3!-· 3>, Taxon Oil ft Ld (1). 1 5', 5'· 5'* Todd Shipyard (1)., 1 10 10 10 Trunz Pork Strs 1.. 7 9'« 9·-» 9' · Union Am Inve;;t.. 1 6'» β'» 6U Un Gas or Canada.. 3 3 3 3 United Corp war... 2 1 '* l'i l'i 1 Utd Dry Dock 1 ', >\ U United Founder*... 17 ft l, 'a United Gaa 9 *i 7* United Gas pf (7).. 3 15 15 15 Unit LtftPwr (A).. 3 2 1·* l7. Util P4 Lt 7 7, ·* Utility & ln.l 23 1 1 1 Walgreen Co 19 9 9 "T" Oil Sc Gaa 1 >, H îi Dividend rate· in dollar» based on last quarterly or semi-annual payment. ·Εχ dividend- tPartly extra iPlus 4". in stock, a Payaoîe in cash or stock ο Payable In stock e Adlustment dividend. t Plu» 5* in stock, g Pius ft in stock, h Plus 1* in s'ock. 1 Plus 2·» in stock k Plus 10*". in stock m Plus in stock, η Plus 1% in stock d Paid last year—no regular rate. Grain Market By the Associated Press. CHICAGO, June 28.—Enlarged specu Iative buying whenever prices dipped put considerable backbone into wheat values today. Scantiness of arrivals of newly har- ' vested wheat attracted a good deal of notice, with special attention given to the fact that so far this season Gal veston has received very little grain, al though harvesting has been on in Texas for several weeks. Scattered, selling of rye carried July delivery of rye down to the lowest price since 1895. Wheat closed firm. 1 < to 73 above yes terday's finish: com unchanged to higher; oats, '4 to off, and provisions j at 7 to 12 cents advance. WHEAT— High. Low. Clo?t. July, old 48'» .47' 2 .483, July, new 481» .47*» .48s, September, old .51', 48,a -511, September, new 507n .50 .507e December 543, .53 .54'., CORN— July 29', .28*k .287a Sfptember 31'· .31'» .31s» December .325β .311» .32', OATS— July 20 .19', .19% September 203« .1#*» .20 December 22', .213, ,22U RYE— July 29', .28 .28a« September 32', .31', -31 ; β December 35'j .34', .35V, New York Cotton Special Dispatch to The Star. NEW YORK. June 23.—Though weak ness in outside markets had an unset tling effect on cotton prices at times today, continued reports of increasing weevil Infestation steadied the list and prices ended the day a point higher to 3 points lower than yesterday. Spots were unchanged at 5.35. It was reported that the same Ger man interests that took up cotton on May were stopping July notices today to the extent of 14.000 bales. Notices for about 41,000 bales were circulated on the exchange before the opening. Cotton range: Open. High. Low. Close. I July 5 21 5.24 5.15 5.22-24 | October 5 47 5 47 5 40 5.45-46 December 5 62 5 62 5 54 5.60-61 January 5 71 5 71 5 63 5.68-69 j March 5.85 5 85 5.78 5 84 May β.01 8.01 5.94 5.97-98 NORFOLK & WESTERN. NEW YORK, June 28 (/P).—Norfolk & Western Railway Co.'s ccmmon stock was placed on an $8 annual basis to day, against the regular rate of $10 pre viously paid. Directors declared a quar terly disbursement of $2 a share pay able September 19 to stock of record August 31. •This was the first cut by the road during the present depression. Extras j of $2 were paid in both 1930 and 1931. j while in 1929, when the stock was on an $3 basis, an extra of $4 was paid. CHICAGO DAIRY MARKET. CHICAGO, June 28 (/P).—Butter— j Receipts, 16,716 tubs; steady, prices un changed. Eggs—Receipts, 10.820 cases: easy: ! extra firsts, 12%; fresh graded firsts, | 12'4; current receipts, llall1-; storage j packed firsts. 12n, ; extras, 13. Û. S. TREASURY CERTIFICATES (Reported by Cha*. D. Barney & Co.) Rate—Maturity Bid. OfTer 3'»s Aug 1. 1932 100 9-32 100 11-32 | l'/.s Sept. 15 1932 10O 5-32 100 7-32 3s Sept 15, 1932 100 18-32 100 20-32 3'sS Oct. 15. 1932 100 26-32 100 28-32 3',s Dec 15. 1932 101 9-32 101 11-32 33,s Feb 1. 1933 101 25-32 101 28-32 33,s Mar. 15. 1933 101 31-32 102 1-32 25 Mar 15. 1933 100 16-32 100 24-32 2s May 2. 1933 100 24-32 100 26-32 1'=» June 15, 1933 100 6-32 100 8-32 3s May 2. 1934 101 24-32 101 26-32 , 3s Tune 15. 1935 100 24-32 100 28-3Ï < Shorts Cover on Unexpect edly Favorable Actions on Dividends. BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, June 28.—Stimulated by a series of better than expected divi dend actions and improvement In Mid west banking conditions, stocks on the Curb Exchange rallied today. Dealings, however, remained light. In the utility group Electric Bond Sz Share at 57„ around noon was un changed. Tampa Electric rase nearly a point. Cities Service at 2 eased, but Standard Oil of Indiana was up a shade. Philadelphia Co. in Its ftrst sale in several weeks yielded more than a half point. Favorable dividend action by some of the big beard shares set in a short covering movement that spread to the curb. The advance in stocks on this exchange was aided l>y the drying up of Chicago selUng. w.iich in the past week was fairly heavy, due to banking troubles. Stocks with their primary markets In Chicago, such as Swift In ternational. Swilt & Co. and Walgreen, steadied. Commonwealth Edisor. and Public Service of Northern Illinois. Middle West Utility subsidiaries, will reduce their annual dividends from $8 to $5 and from $8 to $3, respectively, if the directorates accept the recommenda tions of the Executive Committees. Southern New England Telephone, which broke 46 points Monday, as the May report showed a continuance of station losses, though a maintenance of net through expense adjustments, today declared the regular quarterly dividend of $2, but the stock did not immediate ly respond. Eureka Pipe Line declared the regu lar $1 quarterly. New York Transit by its fractional decline reached a new low and National Transit at 6'4 was unchanged. South Penn Oii announced that oil producers in Southwest Penn sylvania. Southeast Ohio and West Vir ginia will be asked to restrirt their July output to 75 per cent of their November, 1931, reduction, in the hope of bettering the petroleum situation by August. Duke Power with a drop of 2 points and Metropolitan Edison, down 4, were the only wide movers on the downside before mid-day. The slight reduction in Northern States Power Co. net for the 12 months ended Apifl 30. as an nounced today, was forecast by an ad vance in the shares in raient sessions. Halving of the Lefcourt Reilty com mon dividend, bringing it κ> 20 cents a share quarterly, was better than ex pected. Deferment of tie quarterly class A dividend of $1.75 ly Greyhound Corporation was not unexpected. TWO BANKS CIDSED. CHICAGO. June 28 The Pint National Bank of Riversde, a suburb, failed to op?n for businesj today. J. R. Osterberg, cashier, said he bank's as sets were excellent and hs saw no rea son why depositors shouB not be paid in full. There was $223,(00 on deposit. The Congress Trust and Savings Bank, situated on Wabali Avenue just south of the Loop, closet with deposits of $1,300,00^ It was capitalized at $500,000. MONEY MARKET. NEW YORK, J'tne 28 (Λ1).- Call money steady; 2'2 pel cent all day; time loans steady: 6<j;90 days, l'i; 4-6 months, l'i per cat: prime com mercial paper. 2,2-23{ bankers' ac ceptances unchanged. ANNUITIES PROFITABLB-SAFE ALL FORMS—.«.L AGES Representing Old I.te Companies WYNDHAM I. WILLS Insurance and Aridity B: .ker 21 YEARS EXmRfEVCE Chandler Bldg. MEt. 2719 6% r With Safety (/ In Gnafantr First Mort. *ase Sdiirities. Well se lected Investments in denomination· a» low as «100. CONVENIENT DEFIRRED PAYMENTS Real Estate Mortgage and Guaranty Corp. 1610 Κ St. / Nat. 1403 WE CAN RENT YOUR VACANT Property—Let Us Manage Your Real Estate—Real Service and Excellent Results Thos. E. Jarrell Co. feaitors 21 10th St. N.\f. National 0765 NO. 29 of a Series of Reasons irhv—irhen selecting a bank—the Columbia National Merits YOUR Consideration. YOU FIND FRIENDLINESS On Every Hand at the "COLUMBIA NATIONAL" For every member of our Directorgte readies full well the financial problems our patrcns must solve. They are eager to give practical assistance . . . interested in YOUR financial affairs. Consult them freely through our officers in matters upon which you wish advice. For only through your direct personal contact can you fully appreciate that intangible service that distinguishes the COLUMBIA NATIONAL—friend'iness. Officer^: FRANK J STRIKER. President L. WHITING ESTES, Vice President ROBERT H. LACEY. Cashter ALBERT E. YEATMtN. Aisf. Cashier WALTER B. Gl'Y. General Counsel Directors JAMES A. MESSER ÏOSEPH H. MILANS JOHN H. MILLER THEODORE W. NOYES WALTER S. PRATT. Jr ANDREW SAIL FRANK J. STRYKER IOHN N. SWARTZELL HARRY BLAKE JOHN JOY EDSON L. WHITING ESTE* C. FENTON FA DE IE Y ALBERT F. FOX E. CARLYN GUY DAVID J. ΚAl'FflAN GEORGE M. LELMRACH