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SISSON STRESSES : FIRM CREDIT NEED Head of Bankers' Associa te tion Also Urges Sta bilized Money. BY EDWARD C. STONE. ' Francis H. Sisson. president of the .American Bankers' Association, urged Government restoration of confidence, sustaining of national credit, protection of foreign trade, stabilizing of ex change and holding to the good old law of demand and supply as among the pre - eminent tasks now facing Government lead ers. in the luncheon address which he made before the United States Chamber of Com merce at the May flower rfotel. The New York banker's talk aroused such unusual interest that further refer- Fr»nci« H. sisson. ence to it is timely. Regarding confidence. Mr. Sisson said: "To restore confidence is perhaps the primary fun«tion cf the Federal Gov ernment—confidcnce in our institutiflns, confidence in the efficiency of our Gov ernment, confidence in the stability of capitalistic systems, confidence in our own possibilities, confidence in the possi bilities of recovery and of wise guidance toward recovery. That psychological element. In my mind, is perhaps the basic necessity of the whole situation. Along with that, to do everything in their power to sustain our national credit, to see to it that the obligations of our country are sufficiently protected that they will be honored and respected not only here but abroad. To see to it that our budget at home is so balanced that the Government's credit is kept sound. One of Paramount Tasks. "Then, perhaps, in connection with our foreign situation, to ask of our Government a more considerate pro tection of American foreign trade and American interests abrcad, with all the ramifications that lead in the problem of international peace and to the restoration of economic order and the equalizing and stabilization of exchange. That, at this particular moment, is perhaps one of the paramount tasks of the hour. "But to proceed from that in our own country, it seems to me one of the pre eminent tasks they face is to legislate for the United States as a whole, to wipe cut class and sectional and party distinctions just as far as possible, and to not let the differences between the agricultural West and South and the industrial East and North reach the point of economic disorder or of govern mental prejudice or participation. "There is no new era. as we discov ered in 1929. Nor is there any new deal. in the broad sense, today. The old order stands and the laws which governed it, and which have governed and guided humanity through thou sands of years, still stand. The good old law of demand and supply is just as real today as it was 6.000 years ago in ancient Egypt, where we read first, perhaps, cf its operation. Praises Record of Banks. Turning to the present banking situ ation, President Sisson asked for a cer tain degree of charity in the "general condemnation of bankers that Is sweep ing the country, because bankers are unable to foresee the unforseeable." He continued: "The sober fact is that over a pe riod of 64 years in which the records have been kept, the amount of money • returned to depositors from closed banks is a little over 80 per cent. So that the loss to the public in depositing money in banks has not been any more severe than a good many of you men have suffered in your own business. "One of my associates in the Guar anty Trust in talking about the situa tion and the loss of money, securities, business and commodities, said, "The mistake I made was in not selling out all my stuff in 1929 and putting all my money in the Bank of United States. I'd have gotten 65 per cent back then.' "So we find in spite of this great newspaper publicity which has been given the question, that there are still a substantial number of banks serving the public today. There are today over 16,923 banks open and doing business. Their total resources are something over $40,000,000,000. For the most part they are serving the business community as effectively as possible. There is some thing like perhaps $4,000,000,000 tied up in banks that are not open, which the Government is proceeding to try to loosen up as far as possible. Those 17.000 banks are immensely better off. better prepared to serve the public to day than they were before the banking crisis came. One of the effects has been to greatly increase banking capital. Politics in Banking Scored. "In 1929 the banks of this country had about a little over $6,000,000,000 of banking capital. The banking capital today is over $8,500,000,000 and we have 10,000 less banks than we had then. So, while we have decreased the num ber of banks, we have increased the measure of protection which the pub lic has in the banking business. If we had not so many banks, of course, that protection might be a good deal greater in the various units offered, but the point I want to make is when dealing with the Federal Government the fun damental difficulty in the banking busi ness has been political and not eco nomic nor business. "It is because they permitted banks to be organized with such a small amount of capital and in such great numbers that it was not possible for those banks to live in a period of eco nomic depression and reaction. It was not a question of dishonesty or bad management in most cases, and while there are flagrant instances, which we all greatly deplore, perhaps the average vras no higher than in other businesses, but at any rate, the real cause of that situation was before thousands of banks were permitted to exist which never should have been permitted by Government, and the reasons they ex isted were political and not economic," he asserted. In conclusion the A. B. A. president reviewed the 14 points for better bank ing which were adopted at the recent meeting of the association's council at Augusta, Ga.. and expressed the hope that many of these suggestions will be ?iven full and careful consideration be ore the Glass banking bill is finally passed. Lanston Officers Are Re-elected. All officers and directors of the Lan ston Monotype Machine Co. were re named at yesterday's annual meeting ■when the stockholders met in Alexan dria. The officers include J. Thilmar Hendrick, chairman of the board; Har vey D. Best, president; T. Frank Mor gan. A. E. Pagola and Frank J. Rode rick, vice presidents; John A. Ferguson secretary: Allen R. Fretz, assistant sec retary; Wilfred Bancroft, treasurer, an<! Harvey W. Monks, assistant treasurer The board of directors, including the Washington members, consists of Har vey D. Best, M. C. Branch, Carl W Corby, John W. Hyde, jr.; J. Thilmar Hendrick, Adrian H. Larkin. Royal T McKenna, W. Usher Parsons anc George W. White. The directors voted a dividend of $1 per share which is payable May 31 Lanston stock is still very widely helc In Washington. It is quoted on th< Washington Exchange at 44 bid and 5S •sked. , TRANSACTIONS ON THE NEW YORK' STOCK EXCHANGE mecehred fcy Private WW Direct to The SUr Oflct. , 1033 HUh. Low. 27 134 Stock and Dividend Rate. Yesterday'* Bales— Add 00. High. Abrm & Straus 1.20.. 1 74 3 Adam* Expraaa 16S 164 8 Adams Mil lis 16 104 64 Addressograph 5 3*4 1H AdvRumley 8 U*t 7*4 Affiliated Prod 1.20... 49 694 474 Air Reduction (!)..., 61 14 4 Airway ElecAppl...) 3 184 114 Alaska Juneau(SOc).. 104 1^* 4 Alleghany Corp 134 314 1 Alleg Corp pf J30ww. 13 24 14 Alleg Cp pf $40 ww.. 2 24 14 Alleg Cp pf $30 xw... 11 154 B Alleghany Stael 100» 954 704 Allied Chem&D (6). 121 13*4 6 Allls-Chalmera Mfg. 87 104 64 Alpha Tort CeVient.. 5 14 5 Amal Leather pf..... 2 344 184 Amerada Corp (2)... 73 154 74 Am Ag Chem (Del).. 66 17 8 Am Hank Note 14 64 1 Am Beet Sugar...... 98 264 24 Am Beet Sugar pf... 120» 21 0Vta Am Brake Sh&F 60c., 28 Am Can (4) 200 Am Can pf (7) 5 Am Car & Foundry.. 30 Am Car&Foundry pf. 1 AmCh.cle(t3) 40 Am Comc'l Alcohol.. 38 A.n Encaustic Tiling 6 Am European Secur.. 10 Am & Foreign Pwr..' 427 Am&Forgn Pw pf («) 15 Am & For Pw pf (7).. 21 Am & For Pw 2d pf. • 68 Am Haw Stship (1).. 2 Am Hide & Leather.. 9 Am Hide & Leath pf.. 13 .* m Home Prod (3 ) . 26 Am Ice Co 20 Am Ice pf (6) 3 Am International.... 64 Am La Fr & Fora pf.. 20s Am Locomotive.... .. 16 Am Locomotive pf... 1 Am Mach<S.-Fdy(80c). 30 Am Mach & Met ct... 1 Am Metal Co 65 Am Metal pf 620» Am News (14) jc lOt Am Power & Light... 268 Am P&L $5 pf (14)., 22 Am P&L $6 pf (1%).. 22 Am Radiator 241 Am Rolling Mills.... 95 Am Safety Razor (S) 6 Am Sm & Ref 96 48 204 Am Sm & Ref 6% pf.. 7 62 31 AmSm&Kef 7% pf.. 6 44** 324 Am Snuff (t3% ) * 2 124 4** Am Steel Foundry... 16 64 374 Am Steel Fy pf (2)... 60» 41 30 Am Stores (t24)•• 9 534 214 Am Sugar (2) 97 100 80 Am Sugar pf (7)...., 3 104 6 Ant Sumatra Tob... . 41 1094 864 Am Tel & Tel (9).... 671 SI 49 Am Tobacco (5) -10 834 504 Am Tobacco (B) (5). 97 117 1024 Am Tobacco pf (6). . 10 9 44 Am Type Founders.. 6 IS7* 10 Am Type Fdrs pf.... 580« 224 104 Am Water YVorks(l) 99 174 94 Am Wat Wks ctfs(l) 71 58 35 Am Wat W 1st pf(6). 2 9U 34 Am Woolen 60 4014 224 Am Woolen pf 18 14 4 Am Writ Paper ctfa.i 25 34 4 Am Writ Paper pf.., 20s 64 24 Am Zinc & Lead 8 154 5 Anaconda Copper.... 285 154 84 Anchor Cap (60c).... 14 64 24 Andes Copper 1 194 94 Archer-Daniels (1).. 9 100 95 Archer-Dan-pf (7), 40s 614 41 Armour of Del pf (7). 9 34 14 Armour of 111 (A)... 82 Armour of III (B). .4, 41 844 494 128*4 112 154 64 324 15 444 34 23*» IS 24 104 104 134 19 12 64 64 25 40 74 Sfi 104 24 154 1 34 34 64 7'/* 4*, 44 24 134 294 3*4 25 44 14 54 394 17*4 16*. 8*i 24 4 12** 38 30 9>4 214 244 104 154 3'* 154 17 4 9 94 44 5*» 25'i 204 314 10*4 24 234 34 4 34 24 114 40 40 16 4 7 Armour of 111 pf 41 14 2 34 25 10s 1 21 51 2 1 Arnold Constable. Artloom Corp Art Metal Construct. *1 Associated Apparel.. 34 Asso Dry Goods..... 18 Asso Dry G 1st pf... 15 Asso Dry G 2d pf.. .. 64 Associated Oil 30s 594 344 Atchison 170 68 10 Atchison pf (5).... .. 9 164 Atlantic Coast Lftie.. 42 44 Atl Gulf&West Ind.. 3 Atlantic Reflning(l). 314 Atlas Powder 2 Atlas Powder pf (6). 20* Auburn Auto (2)..... 99 % Austin Nichols 1 13 Austin Nichols A (1) 60s 54 Aviation Corp (Del). 418 34 13 194 124 194 9 66 60 564 314 3 4 17 124 27 8 134 74 34 114 70 14 154 14 34 3* 24 15 944 144 11 16 344 174 17 54 28 23 82?* 1204 164 324 444 224 24 ' 74 104 174 214 13 64 64 254 37 %. 7V4 37 104 24 15 36 164 2 114 374 24 8*4 194 214 104 154 26 304 474 624 44 12 70 404 544 98 Mi 10 1044 794 824 109 9 214 22i* 174 64 9*4 404 14 6 54 134 13 6 194 100 604 3** 24 224 34 4 4*4 34 114 424 40 114 594 69"* 344 15 194 18i* 674 484 2 15 12*4 N«t Low. Clo»e. Chge. 27 74 184 74 3% 104 69 14 15 14 3 2*4 24 14 924 134 104 134 82 154 164 44 24 214 81V4 120 154 32 424 214 24 64 104 16 207-4 12** 64 6 24 37 7 364 94 24 144 36 164 2 11 36 20*i 84 18 194 104 14*4 25*4 294 45 614 44 114 70 404 514 97 94 27 74 134 74 34 10*4 694 14 15 14 3 3V. 24 14 64 26 23 82*4 120V4 164 + 22 24 1 104 74 364 94 24 144 36 164 2 11 + 4 404 + 534 98V4 10 1024 1024 784 794 81 107 8 164 214 16*. 64 9 394 4 34 54 124 124 6 194 100 59 34 2 22 34 4 44 24 104 42 40 114 574 68 334 134 19 184 67 4 47 2 15 114 824 107 9 214 214 164 54 94 391-i 14 13 +4 6 +1 194 100 60 +4 34 - 4 24 + 4 224 34 4 44 +14 184 674 47 2 15 12 7H 3% Baldwin Locomot.. .1 108 8 7% 21% 94 Baldwin Locomot pf. 520s 21% 2014 15% 8% Baltimore & Ohio.... 223 15% 14% 19% 94 Baltimore & Ohio pf. 13 19% 18 1914 324 20 Bans: & Aroost (2)... 10 32% 31 32 85 68% Banc & Aroos pf (7). 10s 874 874 874 6 3 Barnsdall Corp 177 6 5% 6 23% 3% Bayuk Cigars 30* 19% 19% 19% 18 7 Beatrice Creamery.. 11 17% 16% 17 60% 45 Beech-Nut Pkg (3).5 61 69 61 6% 3% Beldlng-Hemingway. 4 5% 514 514 + 75 62Vi Belg N Ry pt pf 4.09.. 1 75 75 75 13ts 6'h Bendix Aviation 242 13% 12% 13% + 22% 9 Best i Co 30 23% 22% 22% + 26% 10% Bethlehem Ste«l 215 27% 25% 25% — 54 25% Bethlehem Steel pf.. 10 55 53% 54 144 . 6% Blselow-Sanford.... 60s 14% 13% 144 + 8% 3% BlawKnox 11 914 g7„ 91^ + 24% 9% Bohn Alumn & Brass 43 24% 23% 23% + 33 18 Borden Co (1.60).... 119 33% 32% 33% + 12% 54 Borg Warner 94 12% 11% 11% _ 13% 6 Boston & Mains 3 13% 13 13 6% 2% BriggsMfgCo...... 119 71* 6% 7 12% 7% Briggs & Strat (1)... 1 1314 1314 131^ 33% 21% Bklyn Manhat Tran., 49 33% 32% 32% S0% 64 Bklyn Man Tr pf (6). 3 75% 75 754 5 3% Bklyn & Queens 2 4% 414 4% 82 634 Bklyn Union Gas (5). 16 78% 764 784 +24 44 28'a Brown Shoe (3) 1 44 44 41 5 1% Brunswick-Balke.... 2 4% 4% 4% 4. 1% 4 Bruns Term & Rwys. 47 1% 1 1% + 6% 2 Bucyrus-Krle 10 6% 6% 6% + 9% 2% Bucyrus-Erie cv pf.. 27 10 9% 9% + 50% 204 Bucyrus-Erie pf (2).. 60s 50% 60V<i 50% + 2 %Budd(EG)Mfg 6 1% 1H 14 5 3 Budd (EG) Mfgpf.. 210s 5% 5% 54 + 2% 1 Budd Wheel... 19 2 2 2 + 5% 2% Bullard Co 2 5% 5% 5% - 13% 6% Burr Add Mach(40c) x 68 13% 13% 13VA — 9% 2 Bush Term deb stk. . 6 5 5 5 1% % Butte Copper & Zinc.. 4 114 lVj 1V4 2% 1% Butterick Co 6 2% 2% 2% + 20% 84 Byers (AM) 116 20% 19% 48 30' k Byers (A M) pf (2). . 720s 50 49% 191-i 7*. California Packlnp. . 13 4 4 Callahan Zinc & Ld.. 1 5 2 Calumet & Hecla.44 5 2 Campbell-Wyant Fy. 1 11* 74 Canada Dry G A <1). 38 144 74 Canadian Pacific.... 240 25 14 Cannon Mills (1).... 7 74 44 Capital Admin (A)..- 11 614 304 Case (J I) Co 293 69*4 41 Case (J I) pf (4) 220s 1474 5',i Caterpillar Tractor.. 142 12'* 44 Celanese Corp Ill 29% 14 Cent Asuirre <14).. 34 34 2 Century Rib Mills... 4 70 52 Century Rib M pf (7). 20s 24 5"4 Cerro de Pasco 146 2*4 1 Certain-teed Prod. ..| 19 5 4 Certain-teed pf 1 344 244 ^hes&Ohio (24)... 217 25'i 1474 Chesapeake Corp (2). 108 1% 4 Chi & Eastern 111 pf.. 1 3*. 14 Chi Great Western..■, 19 8*4 24 Chi Great Westn pf.. 13 2H 1 Chi MH St Pit Pac... 32 4% 1*4 Chi Mil StP& Pacpf. 97 74 114 Chi & Northwestern. 221 11* 2 Chi & Northwest pf.. 5 4% 21* Chi Pneumatic Tool.. 15 9H 5V4 Chi Pneu Tool pf.... 3 8 2 Chi Rock I & Pac.... 62 104 27,4 Chi R I A Pac 6% pf.. 11 11% S'i Chi R I & Pac 7% pf. 11 11 64 Ch! Yellow Cab (1).. 220s 15V4 5 ChickashaCotO(l).) 12 44 2 Chllds Company 16 11 6 Chile Copper 20s 18% 7% Chrysler Corp'n 613 14V4 7V4 City Ice &: Fuel <2) .. 5 524 45 City Ice&Fuel pf 6%. 40s 3 14 City Stores (A) 40s 6 5 Clark Equipment.... 1 16 10 Cluett-Peabody (1).. 1 88 734 Coca-Cola Co (7).... 72 46 44 Coca-Cola (A) (3)... 1 14V4 7 Colgate-Palm-Peet.. 81 81 49 Colff-Palm-P pf (6).. 1 84 3 Collins & Alkman.... 10 9V4 3V4 Colo Fuel A Iron.... 42 22 124 Colo & South 1st pf.. 60s 174 10 Col & Southn 2d pf.., 20s 17* 9 Columb G&El(b80c). 458 77S 59 Columb Gas pf A(6). 1 45 45 ColumG&Epf B<5).. 3 11* 6* Columbia Pict vtc... 15 48?* 23*4 Columb Carbon (2).. 117 8% 4 Commercial Credit.. 45 24Mi 16 Comc'l Credit (A)... 2 21 18 ComclCred pf B (2). 10s SoH 18 Comcl Inv Trust <2). 94 18V* 9 Comcl Solv (60c).... 254 24 1* ComwlthiSouthn.., 499 (0 .21 Comwlth A Sou pf(6) ,12 }3 7* Congol-Nairn (80c).» 64 19V4 18<4 18Vi + % * * * 54 4% 5 5* 5* 5* + y« 12 114-12 + y4 144 13*4 13*4 + % 24 234 234 - 4 74 7 74 + % 624 61 614 + 4 69 66 66 —2H 15H 147/A 15 + yt 144 124 13T4 + 14 30V« 294 294 3*4 34 3*4 + 4 70 70 70 214 20 20-4 - % 24 2% 24 — H 13 13 13 +3 35 344 344 + 4 274 26V< 26W, +1H 14 14 14 — 4 34 34 34 + 4 84 8 8 274 2*4 24 + % 44 34 34 + % 7*4 74 74 + 4 11* 114 11* 4. 4 4*4 4*4 4*4 + % 9V4 9V4 9*4 — *4 94 8 8 +4 114 104 11 + 4 134 114 114-4 11 11 11 154 15 154 + 4 54 44 54 + * 10 10 10 - 4 19 184 184 + fc 12*4 12*» 12*4 + Vi 50 484 484 -14 3 3 3 6* 6* 64 +14 16 16 16 85 81% 834 +2V4 444 444 444 + 4 154 144 154 + * 724 724 724 +14 84 74 74 - 4 9% 8* 84 — M 214 214 214 - 4 19 19 19 +2 174 164 164 + 4 70 70 70, +2 48 40 48 43 12 11 114 - 4 494 474 484 + 4 10 8% 84 214 214 214 + 4 20 20 20 -1 30% 30 30V4 + V< 174 16V4 164 - 4 2u ITi o 34 29 W 82* +24 13)4 .12T* I» 11 6V4 Congress Cigar (1).. 2 94 3% Consol Cigar 1 6P% 31 Congo'. Cgr pr pf 64. 80» 494 384 Con Cgr pr pf xw6 4 •• 20» 46'-j 33 Consol Cigar pf (7).. 10a 44 14 Conaol Film 2 114 64 Consol Film pf 7 63b 40 Consol Gas NY(i.40). 595 99 83 Consol Gas NT pf<5), 16 64 24 Conaol Laundries.... 5 8v* 5 Consol Oil Corp - 519 1004 954 Conaol OH pf (S).... 1 6»i 14 Cons RR of Cuba pf.. 14 % % Consol Textile 4 5b 1% Container Corp (A).. 5 2^4 % Container Corp (B).. IS 7V4 3 Contl Baking (A)..., 52 14 H Contl Baking (B)..,. 16 47 86 Contl Baking pf (4).. 2 66 35V* Contl Can (2) 116 64 34 Contl Diamond FIbr# 6 26 104 Contl Insur (1.20)... 98 3 1 Contl Motors 783 10 4% Contl Oil (Del) 695 74 45% Corn Products (I)... 171 145*4 1174 Corn Prod pf (7).... 220a 44 24CotyInc 25 33 23 Cream of Wht t2 4 .. 17 7*4 24 Crosley Radio 19 264 144 Crown Cork (t Seal. .1 26 31 244 Crown C&Spf (2.70). 16 184 9 Crucible Steel 8 33*4 16 Crucible Steel pf 60s 2<b b Cuba Co 5 84 14 Cuban-Am Sugar.... 74 484 10 'luban-Am Sugar pf.. 160« 41 204 Cudahy Packing 24. 6 18 6% Curtis Publishing... 38 48H 30 Curtis Publishing pf. 10 4 14 Curtlss-Wright 295 34 2 Curtiss-Wright (A).. 73 11% 4b Cutler Hammer 11 6 1% Davega Stores 12 11H 6Vi Deere & Co pf (20c).. 11 644 87*» Delaware & Hudson.. 88 294 174 Del Lack ft Westn... 112 5 2 Denver & R G W pf.. 1 714 48 Detroit Edison (4)... 8 24 17b Diamond Match (1).. 16 284 26"* Diamond Mach pf 14 4 19 12 Dome Mines <tl.10). 103 174 104 Dominion Stores 1.20 22 154 104 Doug Aircraft (75c) .• 106 14 6*4 Dresser Mfg (A).... 2 74 2b Dresser(SR)Mfg(B). 7 45 29 Druglnc(S) 70 1 14 4 Dunhill Internatl.... 1 67*4 324 Dupont de Nem (2). . >91 106 90 Dupont deN db pf (6) 3 102 94 Duquesne Lt 1st (5).. 10a 104 104 104 + * 8 8 8 -4 474 464 46 -1 464 464 464 - 4 40 40 40 -1 34 34 34 -4 8% 84 84 + % 63 51V* 52 -4-1% 85 844 85 3 24 I + 4 84 84 84 + 4 964 964 964 +24 6% 64 6b +1 4 % 4 44 44 44 2* 2 2 8* 74 74 + 4 14 1 14 474 47 474 +14 654 634 644 +14 7 64 64 + 4 264 25 254 + 4 34 3 34 + % 104 94 104 + b 714 694 704 + 4 128 1274 128 + 4 44 4Mi V, + % 384 32*4 38% + *, 84 8 8Vi + 4 264 244 25 -1 31 30 30', - 4 194 184 18b 35 34% 85 + 1% 2 2 2 8 7 74+4 4614 44*4 464 +2V« 41 404 40% + 4 17b 16b 16% 47% 45b 46 + b 24 24 24 + 4 44 4 44+4 12 11% 11% '-% I 3b 2'.« 3V4 11 10% 10% — % 65 63 64 +4 294 284 284 - % 54 54 64 + 4 70 67 70 +44 244 234 244 + 4 27 27 27 -4 194 184 184 17% 17 17% + 4 154 144 144 + 4 14 14 14 7% 7 7 - % 444 44 44 +4 14 14 14 + 4 68% 67% 67% - % 100% 100% 100% + % 90 90 90 64 14 Eastern Roll Mills... 27 5H 44 67i, 46 Eastman Kodak <J).. 103 67 4 65 654 130 110 Eastman Kod pf (6).. 60« 1114 111 111 94 S1* Eaton Mfg Co 172 10M. 94 9H + 1 "4 Eitington-Schild 49 14 1 14 + 64 4 Eitinpton-Schlld 1st. 4 7 64 7 + 204 10 Elec Auto-Lit* 182 184 18 18 - 24 1 Electric Boat 27 2V» 1% 14 l7* 1 Elec & Musical Instr. 151 2** 1H 2 + 8*4 Si* Elec Pwr & L,t 207 84 74 8 18*4 64 ElecPwr&Lt 16 pf... 15 174 17 17 + 204 7', ElecPwr&Lt 17 pf... 12 19 18 184 35 21 Elec Storage Bat (2). 11 344 34 34 - 1 4 Elk Horn Coal pf 310» 111 4514 26 Endicott-Johnson(J) 34 49 47 474 +2 94 4 Engineers Pub Svc.. 10 8 74 74 32 154 Eng Pub Svc pf (5).. 1 25 26 25 -2 35 15 Enp P S pf WW (»H). 3 26 25 26 -t-1 38 20V4 Kns Tub Svc pf ( 6). . 2 28 27(4 28 11 6H Equitable Of Blill).. 5 lOVj 9H 10H + 94 34 ErieRR 51 9'* 94 94 - 114 4'j Erie R R 1st pf 17 114 HVt 114 + 24 ErieRR 2d pf 8 8 74 74 + 5 3 Eureka Va Cleaner.. 1 54 84 54 + IS 74 Evans Auto Prod.... 1 14 14 14 64 24 Fairbanks-Morse.... 5 64 54 54 — 104 44 Federal Lt&Traclon. 2 94 84 94 +1 40 15 Fed Mines & Smlt... 1 42 42 42 +2 24 4 Federal Mot Truck. .• 11 3Mi 24 34 + 14 4 Federal Screw Wks.. 1 14 14 14 + 34 14 Fed Water Service A. 8 24 24 24 + 19 74 Fed'd Dep Strs(60o).. 5 19'» 184 184 24 104 Fidelity-Phoen 1.20.. 76 254 24 244 194 94 Firestone T&R(40c). 42 194 184 18S 66 42 Firestone T&R pf<6 ) 8 68 664 674 594 43 First Nat Strs (24). 13 594 574 68 10 74 Florsheim Shoe (A).. 1 12 12 12 84 24 Follansbee Bros 6 9 84 84 9 614 Food Machinery..... 5 10 94 10 12H 44 Foster-Wheeler 61 13 12H 13 + 4 5H 2 Foundation Co 3 54 44 4*i — 4 234 134 Fourth Nat InT 1.10.. 5 224 224 224 +1 2W 4 Fox Film (A) 6 24 2W 24 234 12 Frankln Simon pf(7). 10» 31 31 31 +104 31 164 Freeport-Texas (2).. 43 314 304 304 — 4 112 97 Freeport-Tex pf (6).. 2 116 111 112 13 9 Fuller Co pr pf 60s 194 194 194 +74 74 4 Fuller Co 2d pf 10» 64 64 64 + 4 1% 1 Gabriel Co (A) 7% 2*4 Gen Am Investor*... 68% 42 Gen Am Inv pf ww 6. 25% 13*» Gen Am Transp't(l).. 1114 4% Gen Asphalt 18% 13 Gen Baking (2) 4*4 24 Gen Bronze .. 3'4 1U Gen Cable 6 2'i Gen Cable (A) 13*4 6% Gen Cable pf 40 29 Gen Cigar (4) 112 100 Gen Cigar pf (7) 20* 104 Gen Electrlo (40c)... 12 104 Gen Elec spec (60c).. 32% 21 Gen Foods (1.60) 13 7 GenGas&El 7% pf A. 564 35-4 Gen Mills (S) 23 10 Gen Motors (1) 83 654 Gen Motors pf (6).... 74 34 Gen Printing Ink.... 4 2 Gen Public Service.. 264 134 C'en Ry Signal (1)... 80 69% Gen Ry Signal pf (6) 114 % Gen Realty & Util... 104 BV4 Gen Realty & Util pf. 94 21* Gen Refractories.... SOy* 9% Gillette SafRaz (1).. 75 47% Gillette Saf R pf (5). 34 4 Gimbel Bros 15 54 Gimbel Bros pf 84 34 GliddenCo 604 48 Glidden Co prpf (7). 8 3 Gobel (Adolf) 204 12 Gold Dust (1.20).... 69 69 Gold Stock Tel (6)... 12 3 Goodrich (BF) 344 9 Goodrich (B F) pf... 324 9V4 Goodyear Tir*&Rub. . 6314 274 Goody'r T&R 1st (I). 13*-* 7% Gotham Silk Hosiery 24 1 Graham-Paige 94 34 Granby Consol.v.... 814 3% Grand Union 34% 22'4 Grand Union pf (3) .. 19 11% Granite City SteeUl) 294 154 Grant (W T) (1).... 174 4% Great Northern pf... 94 64 Great Northern Ore.. 20 7 Great West Sugar... 103% 72% Great Wn Sug pf(7). 14 4 Grlgsby Grunow.... 24 4 Guantanamo Sugar.. 5 1*4 Gulf Mobile & North. 324 164 Gulf States Stl 1st pf 194 15 Hackensack W (14) 284 26 Hacken Wat pf A 1 % 3% 1% Hahn Dept Stores... 6 3V4 Hall WF Printing... 3V4 2'4 Hamilton Watch.... 61 454 Hanna pf (7) 15 64 Hasbison & Walker.. 24 % Hayes Body 7 3 Hercules Motor 25% 15 Hercules Powder 14 9514 85 Hercules Pow pf (7). 574 354 Hershay Choc (3).... 83 644 Hershey Choc pf(t5) 7 314 Holland Furnace.... 4 214 Hollander Sons 2054 145 Homestake M(tlO).. 7 44 Houdallle-Hersh (A). 3 1 Houdallle-Hersh (B). 61% 444 Househd Fin pf 4.20. 204 84 Houston Oil 44 14 Houston Oil (new).. 194 54 Howe Sound (40c)... 16% 11% Hudson Manhattan.. 7% 3 Hudson Motor Car... 34 1% Hupp Motora... j. .. ■ 1% IV* 1 'r4 — % 714 6% 6% - V* 71% 71% 71% -4-2% 26% 25% 27% + 4 11% 11 114 184 18 184 - 4 6 44 6 + 14 34 34 34 + Vi 6Vt 6% 6>4 ■+• % 14 134 134 + 4 35 34 35 + 4 107 107 107 + 1% 21 194 204 + 4 114 114 11% 32% 31% 32V* + 4 11 11 11 +2 55 544 5414 234 224 22% - % 834 824 834 + 4 74 74 74 + 4 34 34 34 + 4 26 25 25<4 - 4 774 774 774 -24 14 1% 14 84 84 84 - 4 9 9 9 144 144 14% + 4 554 68 55% -f24 34 34 34 + 4 154 15 15 94 84 84 + 4 61 61 61 + % 8 74 74 — % 214 204 21 + % 66 66 66 -3 13 124 124 + 4 374 35 36 -f24 32% 314 31% — % 63% 63 63 - % 124 114 124 + 14 24 24 24 + 4 9% 9 9 - 4 7% 7% 7% - % 32 30 32 +3 19 19 19 29% 29 294 + 4 174 164 17 + 4 94 914 94 + 4 22 19% 21 -i-1% 100 99% 39 % 14 14 14 + 4 24 14 24 + 4 5 5 5 324 324 324 +24 194 194 194 + 4 284 284 284 + 14 314 3 3 6 6 6 +1 3 3 3 63 63 63 +2 144 134 134 - 4 24 2% 24 - 4 7 6% 64 — % 264 254 26 + % 93 93 93 +2% 63 624 624 + 4 834 824 834 +14 6% 5% 6% 54 44 54 +14 186 185 1854 -34 74 6* 74 +14 3% 24 3 44% 444 444 - % 204 194 20 44 4 44 174 164 164 - 4 16% 14% 15 7% 7% 7% - % 34 34 34 + 4 2 54 1 96 27 20 47 16 3 100s 14 60s 991 19 165 10s 14 1625 13 80* 9 11 40s 25 2 1 318 8 13 2 41 40s 20 187 30s 267 27 185 18 40 385 15 23 7 1 18 117 16 238 510s 109 25 1 10s 2 10s 12 1 200s 100s 4 41 2 21 10s 4 3 11 5 4 3 70 1 46 60 6 32 15 25 19% 8% Illinois Central 104 25 16 Illinois Central pf... 5 % Vi Indian Motor Cycle.. 2 2 1% Indian Refining.... .1 1 46*i 24 Industrial Rayon (I) 83 42V4 19% Ingersoll-Rand(l%). x 30 2814 12 Inland Steel 5 5Vi 2 Inspiration Copper.. 28 4H 1% Insuranshrs Del 15c.. 3 2Lj 1% Insuranshares (Md). 1 7y* 4Vs Interboro Rap Trans. 40 1% % Intercontl Rubber.. • 17 6% 2V4 Interlake Iron 22 2% % Int Agriculture 3 114 75% Int Bus Mach (#).... 14 5% 2% Int Carriers Ltd 20'c., 11 17% 6H Int Cement 79 % % Int Combustion 9 6 1% Int Combustion pf... 5 35VA 13% Int Harvester (<0e).. 321 6Mi 2V4 Int Hydro-Elec (A).. 48 3% 1V« Int Merchant Marine 4 15 6% Int Nickel of Can.... 596 89 72 Int Nick Can pf (7).. 2 4»i 2% Int Paper pf 100» 1% % Int Paper & Pwr (A}. 8 4% 2 Int Paper A Pwr pf.. 13 6 3% Int Printing Ink..... 3 43 35 Int Printg Ink pf (6), 10s 3% IK Int Rys Cent Am...* 40« . 22% 13% Int Salt 16 •41 IU% Int Shoe (SK.xmK&iI. 6 19% 18% 18T4 - % 26 25% 25% + % % % % 46 43% 44% +1 41% 49% 41 + % 27V4 27% 27% — % 5% 5 5 2% 2% 2% 2% 2% 2% 6% 6% 6% - % 1% 1% 1% - % 6% 5% 6 + % 1% 1% 1% + % 114% 118 114% +2% 6% 6% 6% + % 18% 17% 17% + % % % % - % 3W. 3 3 - % 35% 34% 34% - % IS 5 6% + H 3% 3% 3% - % 14W 14 14M 92 90 90 4% 4H 4% + % 2 1% 2 + % 4% 4 V 4% 7 7 7 +1 87% 37% 87% +1 3% 3% 3% + % 21% 20 }1% + % 40% 40 UO - % 31% 9% Tnt Silver 8 27% 26% 26%-% 60 24% Int Silver pf 80* 43 43 43 IS 5% Int Tele & Teleg. .... 1185 12% 12% 12% + % 8% 1% Interstate Dept St... 20 3% 3% 3% — % 25 12 Intersta Dept Stor pf 60s 23 28 23 +1 2% 1 Iowa Central R R 10* 1% 1% 1% + % 21 11 Island Creek Coal(2) 4 19% 19% 19% + % 86% 23 Jewel Tea Co (3).... 5 36 35% 36 + % 29% 12% Johns-Manvllle 76 29% 28 28% - % 66 35 Jones & Laugh pf(l) 80* 66 66 66 110 100% K C P&Lt 1st pfB(6) 20a 106% 105 105% +6% 13% 6% Kansas City Southn.. 9 13% 13% 13% 19 12 Kan City Sou pf <2).. 1 19% 19% 19H + 7 2% Kaufmann Dept St.. 5 6% 6% 6% + 12% 6% Kayser (J) & Co 9 11% 11% 11% -+ 16* 6 Kelly-Sp Tire 6% pf.. 16 17 16 16% + 2% 2 Kelsey-Hayes (A)... 1 3% 3% 3% + 8% 8% Kelvlnator Corp 145 8% '8 8 — 18% 7% Kennecott Copper... 337 18% 17% 17% — 11% 6% Kimberly-Clark 4 12 12 12 + 2 1 Kinney (G R) Co.... 2 2 1% 1% - 9% 4% Kinney (GR) Copf.. 10« 9% 9% 9% +1% 2 1 Kresge D<>pt Stores.. 10s 3 3 3 +2 10% 5% KreBge <SS).V 167 10% 10% 10% + % 33 27 Kress (SH) (fl).... 4 33% 33 83 30 14% Kroner Grocery (1).. 66 28% 28 28% + % 34* 22* Lambert Co (4) > 44 32* 31 Vi 31% 8* 3=vi Lee Rubber & Tire... 33 8* 8 8 11% 6* Leh Port Cement 1 12 12 12 + 3% 2* Lehigh Val Coal pf.. 2 3*4 3* 3* + 17* 8% Lehigh Valley R R.. 52 17* 15* 16% — 59 37* Lehman Corp (2.40).. .9 60 59* 60 20 14 Lehn & Fink (2) Z 41 20 18* 19% 15% 4% Llbbey Owens Glass. 69 16V4 15 16% 80'4 49 Liggett & Myers(t5) ♦ 4 80 80 80 82% 49* Ligg& Myers B (t5). 50 81 80 80% 132 121 L1BB&Myers pf (7). S50» 127 127 127 17* 13 Lily TullpCup (14). 28 18* 17* 18 + 12** 6% Link Bait (40c) 9 124 114 HVi — 2014 104 Liquid Carbonic 49 214 20% 20* + 21* 81, Lww's Inc(l) 92 17* 16'* 17* + 56* 85 Loews lnc pf <6* ) . . 2 52* 52K. 62* — 3* 1% Lof t Inc 33 2* 2H 2% + 37 19*4 Loose-Wiles Bis (2). 11 37 36% 37 19% 10% Lorillard (P) (1.10).. 97 194 18% 18% - 4 1% % Louisiana Oil 8 1* IV* 1*4 + % 7 3* Louisiana Oil pf 20s 7 7 7 19% 13* Lou Gas&El A (1*). 32 18 17 17* 40* 21V4 Louisville 4 Nash... 74 42 40* 41% 41% 9% 4 Ludlum Steel 13 9% 8* 9* 15* 9* McAndrew Forbes(l) 4 14* 14% 14% 23* 13 McCall Corpn (2) 4 23 22* 23 26* 18 Mclntyre PM(»1%). 55 25% 24* 24* 77* 44* McKeesport T P (4). 72 77 75* 76% 3* 1% McKesson & Robblni 74 4* 3* 4* 8* 3% McKesson & Rob pf.. 21 9% 8* 9% 1 % McLellan Stores 4 % % % 8 2* McLellan Stores pf.. 90s 6 5 6 29% 13* Mack Trucks (1) 24 28* 27* 27% 64* 24* Macy (RH) & Co (2). 64 65 63% 68* 4 1% Madison Sq Garden.. 2 3*. 3* 3* 12* 5% Magma Copper - 2 12 12 12 2 * Mallison & Co 6 2 1% 2 9 3 Mallison & Co pf 30« 9* 9* 9* 3* % Manati Sugar 370s 3* 3* 3* 7% % Manati Sugar pf 140* 6% 6* 6% 6 1* Mandel Bros 30O« 5% 5* 5* 12* 6 Manhat Kiev mod gtd 35 11* 11* 11* 12 5* Manhattan Shirt 5 11* 11% 11* 114 5* Marine Mldld (80c).. 122 8% 7% 8* 134 6 Marlln-Rork (1) 14 14 13 13* 1* * Marmon Motor Car.. 85 4 * % 12* 4* Marshall Field & Co. 29 12* 11% 11* 1 * Martin Parry 11 1 1 24* 14 Mathleson Alk (14). 24 24% 28* 234 23* 9% May Dept Stores (1). 12 23 22* 22% 2* 1* Mavtag Co 2 2* 2* 2% 16* 8% Melville Shoe (1.20). 10 17% 16* 17 6* 2 Mengel Co 115 7 6* 6* 32 22 Mengel Co pf 470s 33 30% 33 12 7 Mesta Machine f60e). 9 12 114 114 19 13* Met-Gold Pic pf 1.89. 1 17% 17% 17% 4* 1% Miami Copper 13 4% 4 4* + Vi 8* 3% Mid Continent Petm. 222 8% 8* 8% + % 11 3 Midland Steel Prod.. 8 10* 9* 10 — * 46* 26 Mid Stl Prd 1st pf(4). 5 49* 48 48 +1* 17* 13 Minne-H'well Rag... 8 16* 15* 16* +1% 2* '4 Minn Moline Pow... 15 1% 1% 1% — * 15 6 Minn Moline P pf 3 12 12 12 - % * * Mlnne & St Louis.... 5 % H 4 — * 7% 4 Minne StP&SSM 11.. 10s 5 5 5 12 5% Mo Kan & Texas 89 11* 11* 11* 23% 11* Mo Kan & Texas pf.. 23 23* 22 22* + * 4% 1* Missouri Pacific 40 3% 3* 3* + * 7 1% Missouri Pacific pf.. 37 4% 4% 4% + % 12% 7 Mohawk Carpet 4 12* 12 12* 44 25 Monsanto Chem 14 . 4 43% 42* 42* -1* 23* 8% Montgomery Ward. . 655 23* 22% 22* + * 56 49* Morris & Essex (3% ) 100s 60 55 60 +10* 4 * Mother Lode 7 * % * * * Motor Meter G & EI.. 10 * % * 17* 7% Motor Products • 17 17* 16* 16* 4% 1* Motor Wheel 6 4% 4* 4* 6* 1* Mulllns Mff 24 6% 5% 6 +4 16% 5 Mullins Mfg pf 140» 13* 13 13* + * 4% 1% V-irrav Corp 63 4% 4* 4* — * 10 8 Myer (FF.) & Br«... 21 20 11% 18 -f8 17% 11% Nash Motor 92 17*t 16% 1714 + 27% 13 Nash Chat & St L, 60* 29 27% 27% + 3% 1% Nat Acme Co 8 3% 3% 3% 2% 1% Nat Bella Hess pf... 1 3% 3% 3% + 50H 31% Nat Biscuit (2.80)... 58 50% 49% 50% + 14% 5% Nat Cash Re«r (A)... 91 14% 14 14U + 18% 10% Nat Dairy Prod 1.20.. 312 18% 18% 18% + i, % Nat Dept Stores 1 % % % 32% 16% Nat Distillers 24 31V, 30% 30% 93 43% Nat Lead (5) 2 93% 98 93% + 85% 75 Nat I.ead pf B (6)... 1 90 90 90 +4 15% 6% Nat Pwr&Lt (1).... 132 14 13% 13% % % Nat Ry Mex Id pf... 4 % % % 37% 15 Nat Steel (50c) 153 39% 37% 37% + 9% 4 Nat Supply Co 47 11 9% 10% + 28 17 Nat Supply pf 390» 33 30 33 8% 1% Nat Surety 26 2% 2% 2% 20 6% Nat Tea (60c) 30 20*, 19% 20Vi 3% 1% Neisner Brothers.... 7 5% 4 5 9% 4 Nevada Con Copper.. 19 9 9 3 1% Newport Industries.. 3 3 3 3 5% 2 Newton Steel 9 4% 4% 4% 13% 6% NY Air Brake 7 13% 13% 13% 27% 14 NY Central 338 28 27% 27% 5 2% N Y Chicago & St L.. 14 7 6% 7 7 2% N C Chi & St L pf '15 8% 7% 8% 120 100 N Y & Harlem (5).... 20s 117 117 117 1% % N Y Investors 38 % % % 20% 11% N YNH& Hartford. 115 20% 19% 19%-% 33% 18 N Y N H & Hart pf.. 7 34 33% 33% + % 12% 7% N Y Ont & Western.. 25 12% 12 12 — % 8% 1% N Y Shiub'lde (10c). 31 7% 7% 7%-% 69% 31 N Y Shipbldffpf (7). 40s 65 65 65 25% 17% Noranda Mln (al.10). 81 25% 25% 25% 1% % Norfolk Southern.... 2 1% 1% 1% + % 143 111% Norfolk & West (8).. 9 141 139% 139% - % 8 4 North Am Aviation.. 655 8 7 7% + % 31% 1514 North Am (b8%stk). 405 26% 25 25 46 32 North Amerpf (3)... 10 39 38% 39 74% 48 North Am Ed pf (6).. 4 55 54% 55 +1 20% 9% Northern Pacific 90 20% 19% 19% — % 2% 1% Norwalk Tire & Rub. 10 2% 2% 2% 9% 4% Ohio Oil 285 9% 9 3% 1% Oliver Farm Equip.. 24 3% 2% 18% 3% Oliver F Eq pr pf A.. 5 13% 13 3% 1% Omnibus Corp 13 3 8% 2% Oppenhe'm Collins.. 4 8 7% 16% 10't Otfs Elevator(60c)... 19 16 15*» 4% % Otis Steel 37 4 3% 10% 2% Otis Steel pr pf 1920s 9% 8 58% >1% Owens 111 Glass (2).. 24 68 56% S1'4 20 Pacific Gas & El (2).. 43% 25% Pacific Lighting (I).. 16 6 Pacific Mills 81«i 65 Pacific Tel & Tel «). 110 101% Pacific T&Tpf (6).. 3% 1*4 Packard Motor Car.. 1% % Panhandle ProARef., % % Tar-Publix cts 10 6 Park&Tilford 2% *4 Park Utah »i *4 Parmelee Transport.. % % Path* Exchange 2% 1% Pathe Exchange (A). 12Vi 5% Patlno Mines 44% 26% Penick & Ford (1)... 37 19% Penney (J C) (1.20).. 102% 90 Penny (J C) pf (6).. 2% % Penn Dixie Cement.. 9% 4% Penn Dixie Cmt pf... 23% 13*4 PennaRR (50c). .... 78 41% Peoples Gas Chi (6). 4 % Peoria & Eastern..., 13 374 Pere Marquette 13% 4% Pere Marquetta pf... 15H 6 Pere Marquette pr pf 9% 6% Pet Milk 8% 4% Petrol Corp of Am... 12 4% Phelps Dodsre 32 25 PhilaCo 6% pf (3).. 50 49 PhilaCo pf (6) n.... 4% 2'4 Phila&ReadCil... 10W 8 Philip MorrtsACoU) 914 4% Phillips Petroleum. .• 5 1% Phoenix Hosiery.... 2% 1% Fierce-Arrow 17 4 Pierce-Arrowpf..... % % Pierre Oil 7V4 3% Pierce Oil pf 1 % Pierce Petroleum.... 21 9% Pillsbury Flour (1).* 42% 83% Pirelli Co A (h2.57).. 14 4 Pitts Coal. 8 4 Pius Term Coal pf.. 8% % Pitta United Corp... 85 15% Pitts United pf 17% 6% Pitts & West Va 1% % Plttston Co 9% 6% Plymouth Oil 5% 1% Poor & Co *B) 4% 1% Port Rie Am Tob(A) 14% 4 Postal Tel&Cable pf. 1% % Pressed Steel Car... 7% 3 Pressed Steel Car pf. 40 19% Proctor & Gam(l%). 104% 97 Proc & Gamb pf < 5 ).. % % Producers & Refln... 6 8 Prod & Refiners pf... 55% 53% Pub Svc N J (2.80)... 1*1% 80 Public Svc NJ pf «), 25% 25 25 + % 32% 30% 32% +1% 16% 16% 16% + % 78 77 77 + % 102 102 102 4 3% 4 + % 1 % 1 + % % % % + % 10% 10 10% + % 2% 2% 2% % % % + % % % % 2% 2% 2% + % 14% 13 13% +1% 44% 43% 44% + % 37% 36% 36% + % 101% 101% 101% + % 2% 2% 2% + % 10% 10% 10% +1 24% 23% 24 + % 60 56 59% +3% 4% 4 4% + % 14 13% 13% + % 14 13 13 + % 15% 14% 14% + % 9 8% 8% - % 8% 8% 8% + % 11% 11% 11% - % 28 28 28 - % 50 50 50 5 4% 4% - % 10% 10% 10% 10% 9% 10 + % 6 5 5 -+• % 2% 2% 2% + % 6% 6% 5% +1% % % % + % 8 7% 7% -»- % 114 1 1 + % 22% 22 22% +1% 43% 43% 43% + % 14 13% 13% - % 7% 7% 7% + % 8V4 3 8% + % 36% 84% 85 17% 17 17% + % 1% 1% 1% + % 8*4 8% 8% - % 6% 6 6 + % ' 4 4 4 - % 15% 14% 15% +1% 2% 1% 2% + % 8 7% 8 + % 89% 38% 89 + % 100 99 99 -1% 1 % % + % 6% 6 6% +1% 47% 44% 45% +1% 15% 85% 85% 54 83 160s 220s 20* 345 7 4 4 31 8 3 1 125 9 101 1 45 1 402 43 7 4 220s 830* 5 69 107 2 1 55 2 431 30s 1 2 17 18 27 65 1 2 70s 5 220s 2 60s 19 20 1 91 38 3 94 50s 37 190s 101 103* 89* PubSvcGAEpf (5).. 2 36 18 Pullman Corp (I).... 63 5* 2* Pur* Oil 219 •2 80 Pure Oil pf (2) 170« 17 6% Purity Bakeries (1).. 41 8*«»3 Radio Corp 881 26 1314 Radio Corp pf (A)... 3 18* 6* Radio Corp pf (B)..» 44 3% 1 Radlo-Kelth-Orph... 30 12% 6 Raybestos-Man (60c) 14 40 2S* Readinr Rwy (1).... 7 29% 23* Reading 2d pf (2).... 1 10*4 5H Real Silk Hosiery.... t 6% 2% Remington-Rand.... 75 6 1% Reo Motor Car ." 77 14% 4 Republic Steel 226 294 9 Republic Steel pf.... 19 6 1V4 Revere Copper 4 7* 2* Revere Copper (A). .i 2 20 7 Revere Cop ft Br pf.. 10» 10H 6 Reynolds Metals(l).. 10 6* 1* Reynolds Spring..... 1 40 26* ReynoldsTobB (I).. 272 6* 2 Rossla Ins of Amer.. 45 24* 17% Royal Dutch. 17 90% 90 90 + * 34% 33* 33* -1* 5* 5H 6* + % 42* 40 42 +2 17* 16* 16% - * 8* 7% 7* - % 25U 24 24 —' * 18* 16* 16* -1* 2% 2* 2% + * 12* 12* 12* - * 38% 38* 38% + % 29 29 29 10 9* 9* - * 6 6*4 6% + * 4* 4% 4% - * 15 14* 14* - * 29% 28H 28% - % 6 4* *6 + % 8* 8 8* + % 20 20 20 10% 10* 10* 6 6 5 + % 39% 38* 39* + * 5 4* 4* + * 25% 26* 25* + % 48S 28 Safeway Stores (I).. '63 96 SOU Safeway Strs pf (7). 10a 18% 6V* St Joseph Lead 71 IS H St L-San Francisco.. 9 2S 1 St L-San Fran pf.... 15 6 2Vi Savase Arms 7 2Vi S Schulte Retail Stores 17 8H 3S Schulte Ret Stor pf.. 30a 37 28 Scott Paper (1,40)... 140a 4 S Seaboard Air Lln«... 10 5 S Seaboard Air Line pf 1 28S 15 Seaboard Oil (t50c).. 74 25S 12'i Sears Roebuck 310 3 IK Second Nat Inr 1 87 24 Second Nat Inv pf... 1 H V* Seneca Copper 7 3*4 IV, Servel Inc 73 6^» IVi Sharon Steel Hoop.. . 2 4 2S Sharp* Dohme 23 27 21',« Sharp & Dohme pf(2) 6 10S 5S Shattuck(FG) (24c). 43 18 ll'i Shell Transport & Tr 70» 6*i 4 Shell Union Oil 145 4'4S 28V, Shell Union Oil pf... 12 10S 4S Simmons C® 35 7S 4% Slrams Petrolm(25c) 64 6Vi 3 Skelly Oil 9 32S 22 Skelly Oil pf w w 1 26 8'i Sloss-Sheft Steel pf.. 640s 3!4 S Snider Tacking 10 11 6 Sorony Vacuum 587 70S 58 Soiv Am pf ww(54). 3 30'* 15S So Port Ric Sug 1.60. 129 120 112 So Tort Ric Spf <«).. 60s 28 17V4 South Cal Edlson(2). 82 22S 11S Southern Pacific....> 301 15K 4S Southern Railway... 132 20 5S Southern Railway pf 9 2S S Sparks-Withington.. 34 12 7H Spencer K«llogg(60c) 4 3 2Mi Sperry Corp 155 12% ll*i SplcerMfgpf (3) 1 5 1 Spiegel-May-Stern.. 2 19S 13S Standard Brands <1). 257 IS 1 Stand Com Tobacco.. 2 15*4 6S Stand Gas k Ilec 169 25 8S Stand Gas&El pf (4). 21 41 17 Stand Gas&El pf (6). 1 46S 20 Starld Gas&El pf (7). 1 IV* S Stand Invest Corp... 11 31?* 19S Stand Oil of Cal (1).. 297 101 92S Stand Oil Exp pf (5). 1 17S 12*4 Stand Oil Kansas. .. . 9 35S 22*. Stand Oil N J (1) 657 3Vi IS Sterling Secur pf.... 1 5'* 2S Stewart Warner 75 10S 5% Stone & Webster.... 288 5Vi IS Studebaker Corp. ... 124 34S 9 Studebaker Corp pf.. 180» 38*4 35 Sun Oil (1) 2 98 89 Sun Oil pf (6) 20s 13 7S Superheater (50c)... 10 IS *4 Superior Oil 11 6 2 Superior Stesl 7 1 S Symington (A) 7 im 8S Telautograph (1)... 1 3S IS Tennessee Corp • 3 17S 10*4 TexasCorp(l) 649 26S 15V4 Tex Gulf Sulphur(l) 102 2S IS Tex Pacific Coal&Oll. 34 6:* 3S Tex Pacific Land Tr. 322 9*4 5 Thatcher Mfg Co.... 12 7 2S The Fair 4 3 1 Thermoid Co 21 6*4 4S Third Avenue 4 17 10 Third Nat Inv (90c). 3 11 6*i Thompson (J R) (1). 2 8H 5S Thompson Products. 1 2 S Thompson Starrett.. 3 f 5S 3i* Tide Water Asso Oil. 97 44S 234 Tide Water Assoc pf. 2 3'* IS Tlmken-Detrolt Axle 32 24S 13*4 Timken Roller Bg(l) 173 6 2S Transamerlca Corp.. 58 6 2S Transue & Williams. 3 6 2*4 Trl-Contl Corp 122 66 41 Trl-Contl Corp pf (6). 1 26S 20S Trlco Products(24). 9 5 2 Truscon Steel 12 9S 5:» Tw;n Citv Rap Tr pf. 10» 49S 48 48S + S 94H 94*4 94*4 -fl*4 17 16 16S + *4 IK 1% IK + K 2S 2S 2S + 4 5 4V4 5 +1 2S 2Vi 2S + H 8S 8S 8S 37 35 37 4 K 4 5 S % 28 27S 27 S 25S 25 V* 25S + S 2\ 2*» 2K 384 384 384 + 14 S S Vi - Vi 3H 3« 3»4, 5% 5«. 5S + V4 4 3*. 4 + S 30 27S 30 +3 9S 9 9S - 4 15 15 15 +2 7S 6S 7S + S 45 42V, 45 -i-4 10S 10S 10S - S 8 7S 7S + Vi 5S 5 54 33 33 33 + Vi 24 Vi 23 23 2% 2Vi 2Vi lOVfc 9*4 9S + 4 72Vi 71S 72'.-, +2 30S 29 30 + S 117 117 117 21S 20S 21 + S 23S 22S 22S - V4 15S 14Vi 14S - Vi 20 18S I814 — % 2S 2S 2S + V* IIS lis lis + s 2S 2S 2S + S 19S 19S 19S +8S 4S 4«i 4S — S 19S 18S 19 IV4 14 1<4 134 12S 13 + Vi 19 17S 18S + S 3 IS 3 IS 3 IS + 1S 33S 33 V, 83S + S IS IVi IS + s 30 29S 30 + V, 96 96 96 +1S 16', 16 16% 4- •%, 35t* 34** 34S + V* 3Vi 3V4 3'-4 — Vi 6Vi 6 6S + *4 11 Mr 10 10S +1 4S 3*4 3S - S 20S 20S 20'.i 385 38S 38*» + Vi 93S 93S 93S -flS 14H 13S 13S -I- S IS IS IS + S 6V4 6 6 IS IS IS + S 11S 11S 11S + S 3S 3S 3S 17S 16S 17S + S 26S 55S 26 2S 2S 2S + S 7S 6S 7S + S 9 8S 8S - S 7Vi 7 7Vi + S 2T* 2S 2S — S 5S 5S 5S + S 16S 15 16*» + S 10 9S 9S - S 8 8 8 — S l*i IS IS + V4 5S 5 5 - S 3<S 37S 37S -+-1S 8*i as 3s - s 23«. 22 22"« — S 5S 5S 5S + S 5S 5S 5S 6 5S 5S - S 68S 68S 68S +2S 26s 25S 25S - S 4S 4S 4\ 8V4 8W 8V4 - S 1% % Ulen & Co 25 9% Und-Ell-Fisher(50c) 1014 5% Union Bag & Paper.. 36 19*4 Union Curb A C (1).. 14 8% Un Oil of Calif (1).. 83 61<4 Union Pacific (1).... 68% 56 Union Pacific pf (4). 16'* 10% Union Tank Car 1.20. 28% 16% Unit Aircraft 60>4 51% Unit Aircraft pf (J). 24% 13% United Biscuit (1.60) 18% 10% Unit Carbon 10% 4% Unit Corp (40c) 37% 24% Unit Corp pf (S) 2% *4 Unit Dye wood 30 28*4 Unit Dye-wood pf (7). 4 1 Unit Electric Coal... 49 23V4 Unit Fruit (2) 20*4 14 UnitGas&Im (1.20). 8 3% Unit Piece Dye Wks.. 6* 3% U S St. Forn Secur.... 15% 7 U S Freight 88*4 18 U S Gypsum (1) 107** 10H4 U S Gypsum pf (7).. 3% 1% U S Hoffman 30 13% U S Ind Alcohol 8% 2% U S Leather 16% 4% U S Neather (A) 14% 6% USPipe&Fdy (50c). 16 12% USP&Flstpf 1.2».. 7*4 2% U S Realty & Imp. 9% 2% U S Rubber.. „ 16Vi 5% U S Rubber 1st pf... 43% 13% U S Smtg £ Ref (1).. 49% 394 U S Smtg&Ref pf 3% 49'. 23% U S Steel 83% <3 US Steel pf (2) 85 59 S Tobacco (4.40) .. 130V4 125 U S Tobacco pf (7 ).. 1% % United Stores (A)... 33%i 21% UnivLeaf Tob (2)... IS, % Unlv Pipe & Rad 12% 4 Univ Pipe & Rad pf.. 4% 1% Utll PwrA Lt (A)... 1% 1*4 1*4 +. % 24 23 234 - % 10% 10% 104 + % 34% 33V4 34% + 1 13*4 ISM. 13% + % 83% 81% 82% -14 68 67 68 + 1% 17*4 I614 16% - % 29v« 27% 28% + IV4 59*4 59 59% 25 24% 24% + % 18% 17% 18% + 1 8% 8 8% + % 34 32*4 34 + 1 1% 1% 1% + % 31*4 30 31*4 -1*4 3% 3% 3% + % 48% 46*4 47% 4-1% 18% 17*4 18% + % 7 7 7 — % 7% 6% 7 + % 15% 13V* 13% -1% 37% 35 364 - *4 106 104V4 104V< - % 3M, 3% 3% 27*4 27 27S, + % 7% 7% 7% + % 15% 14% 14*4 - % 144, 131, 13% ~ % 15% 15i, 15% 7% 6*4 6% - % 9% 9V» 9*4 17«4 16% 16% + % 39% 37% 38V + % 49 48% 48% - % 49T4 48V4 48** — *4 83 Vi 824 83 + 4 81% 80 81% + 14 127*, 127*i 127*. + 2». 2 1% 1% + v, 35 33% 35 ~h 1 'la 1% 1*» 1«* — *"4 7*4 5'* 54 — 47* 4 3% 3% 7 9 3 297 100 95 6 4 1775 4 11 103 590 17 100* 108 5 70 240 3 20 7 26 150s 4 46 15 14 25 1 7 97 59 33 9 656 24 9 10s 17 9 3 50» 68 S % Vadsco Sales Corp... 5 18% 7% Vanadium Corp 73 3 1% Van Raalte 940a Van Raalte pf (sta).. 140a 1% % Va-Car Chemical 12 7% 3% Va-CarChem 6% pf. 3 504 35H Va-Car Chem 7% pf. 3 29V« 12* Vulcan Detlnnlng... 570s 24 14 Wabash R R 6 3* l* Wabash pf (A) 14 84 54 Waldorf System (1). 7 2 4 Walworth Co 11 4% 24 Ward Baking (A)... 1 14 % Ward Baking (B).... 15 19 114 Ward Baking pf (1).. 8 3 1 Warn Bros Picture*. 59 1% % Warner Qulnlan 2 74 24 Warren Bros 46 15% 74 Warren Bros cv pf.. 220s 14 5 Warren Pound ft P.. 67 4% 1 Webster Eiseniohr.. 23 18% 7 Wesson O & Sq (50c) 54 61 40 Wesson O&Sn pf (4). 3 614 30 West Pa Elec A (7).. 50a 64 334 West Pa Elec pf (6). 10» 63 37 West Pa Elec pf (7). 90s 101 81 West Pa Pwr pf (6).. 40s 110 92 West Pa Pwr pf (7). 60s 6% 24 Western Dairy pf A.. 9 2*4 % Western Dairy pf B.. 6 9% 4 Western Maryland.. 41 214 1 Western Pacific 6 4% 1% Western Pacific pf... 2 38% 17% Western Union 127 22*4 11* Westing's# Air B(l). 64 37% 19% Westlnghouse Elec.. 265 75% 60% Westlnghse 1st (SH) 70s 6% 3% Weston Elec Instru.. 5 12% 6 Westvaco Chi (40c).. 9 11 7% Wheeling Steel 4 19% 17 White Motor 1 16 11% White Rock MS (2).. 8 1% % White Sewing Mach. 10 4 2 Wilcox Oil ft Gas.... 62 184 15 Wilcox Rich A (2%). 2 3% % Wilson ft Co 46 9% 4 TOPaon ft Co (A)...... 20 S4 19 Wilson ft Co pf 6 374 2514 Woolworth (2.40).... 321 20 8 Worthlngton Pump.. 63 26% 14 Worth'n Pump pf B.. 2 46% 34% Wrigley (Wm) 13).. 8 13*4 7 Yale & Towne (60c).. 7 6% 2% Yellow Truck 113 29 18 Yellow Truck pf 50s 8*4 34 Young Spr St Wire... 1 21% 7% Youngstown Sh&Tc. 76 1 % Zenith Radio f • ' 9% ZonlteFroduoU...f> 112 H % % + Jj 18% 18 18 - % 2 1% 1% 15 15 15 1% 1% 1% 7% 7% 7% + 4 42 41 42 +1% 294 284 29% + * 2% 2 2V4 + % 3% 3 3 7% 7*4 74 2 2 2 5% 5% 5% +1% 1% 14 1% - 4 22 20 20% +1% 3 2% 2% 14 1*4 l*t, 7% 7% 7% + % 19% 17% 18% +2% 15% 14% 14% + U 3% 3 3% + 4 19 17% 18% + % 50 50 60 44% 43% 44% 43% 44 44 44 +3 49* 48 48 88 88 88 +1 88 98 98 - H 6 6% 5% + % 2% 2 24+% 94 8% 8% - % 24 2% 24 + 4 4 3% 3% - % 39 37% 374 + 4 24 224 23* +1* 37% 864 36% + 4 76 75% 76+% 64 64 6% - % 12 114 12 +1 11 11 11+4 18 18 18 -1% 16 15 15-4 1 1 1 44 34 4 +4 21 20 21 +3 34 3 34 + 4 94 94 9% 35% 85 35 41 374 364 374 +1% 20% 19% 20 +4 26 25 26 41 46 454 454 - 4 14 14 14 4 % 5% 54 64 -4 26 26 26 - 4 8*4 84 84 + 4 224 20% 20% - % % % * «% a* •% + % ADVANCE IN STOCK MARKET RESUMES * « Trading Continues Heavy u New Tops Are Made by Leaders. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, May 5.—Stocks ad vanced into new high ground today in another session of great speculative activity. They did not hold all their gains and the close was not much above the finals of the day before, with a sprinkling of declines, but, on the other hand, there was no sign of a change in attitude toward the market. The dollar was acutely weak in Lon don and in Paris. Sterling exchange touched the $4 mark early in the day and reacted only 2 points from that top. In Paris the dollar dropped almost to 21 francs before rallying. Wheat and cotton made new highs and other staples were more or less strong. Wheat closed up 7/» to 1% cents a bushel. Arrangements had been made, it was announced, for the sale of a Stock Ex Change seat at $150,000, up $13,000 from the last transaction. The stock market leaders at the close were United Aircraft. American Tele phone and Standard Oil of New Jersey. The stock market opened higher under a flood of buying orders, the execution of which not only sent prices to new peaks, but caused a lag of 10 to 11 min utes on the tape and brought a turn over in the first half hour of over a i million shares. The gains in points were not large and there was heavy real izing on the advance, as was natural at this stage of the movement, but the sell ing was well absorbed. Speculative ac tivity shifted from group to group, also a normal symptom in an excited bull market. In many ways the market resembled the 1929 speculation. The difference was in the lower price level and In the much smaller public participation. Out side interest, however, was Increasing, as the larger attendance in every brok er's office demonstrated. Among the new highs on the move ment were those in General Motor*, General Electric. American Telephone, Pennsylvania Railroad. New York Cen tral. American Sugar Refining and stocks of that caliber. The character of the leadership was one of the moet reassuring features of the trading. Aside from the continued depreciation of the dollar in terms of sterling and the continued advances in agricultural staples, the market was influenced by the constructive address of the Presi dent before the United States Chamber of Commerce in Washington and expec tation that Mr. Roosevelt's radio talk Sunday night would be equally inspiring. Doubt remained as to how far the Presi dent would go in exercising the power* entrusted to him in the inflation amend ment to the farm relief bill, but it wa« hoped that he would give some hint of his intentions to the radio audience. ♦ MONEY MARKET. NEW YORK. May 5 UP).—Time money rates for the shorter maturities ruled slightly firmer, but the market was otherwise unchanged. Call money on the Stock Exchange ruled at 1 per cent. In the outside call market the rate continued at 3< of 1 per cent. Fed eral funds were reported slightly easier at I'iali of 1 per cent. IT. S. TREASURY BALANCE. By the Associated Press. Treasury receipts for May 3 wen> $74,922,497.40; expenditures. $28,224, 882.84; balance. $591,567,545.47. Cus toms dutirs lor three days of May were $2,330,919. PARIS BOURSE PRICES. PARIS. May 5 <4>>.—Three per cent rentes 65 francs 8 centimes; 41* P«5r cent rentes. 85.40. Exchange on London, 84.85. The dollar was quoted at 21.20. NEW YORK BANK STOCKS NEW YORK, May 5 iTPi —Over-the counter market: Quotations as of g o'clock Banks. Bid. Aaked. Bk Manhattan <2) 21]4 23V« Chase Natl (2) 2fi'i 27'» Commercial i»<t a.W Fifth Ave iM4> 1245 12H.S Fust Natl ilo(l) 134."> 13H5 Natl City (li :t«i>a 32"4 Public (2) 2II*i 25'« TRUST COMPANIES. Bankers f.D 5!>U 61* BKlyn Trust (4) !»T 102 Cen Hanover < *T > 124 1!R Chemical <1.8(i> 35H 37H Continental <1.20) 14'« 16'/* Corn Exch (3) 54' 4 80S Empire (It 1S)>« 2014 Guaranty (20) 273 278 Irvine (1) 18Vi 19%, Manufacturers 14'> lflH N Y Title A- Mtee >4 1H N Y Trust ifl) 8.S 88 I Title G & T (J.HO) 241« 2«y« United States <HO) 14:15 1485 •Includes extra. \i First Mortgages JAMES F. SHEA 643 Indiana Ave. N.W. ENTERPRISE SERIAL BUILDING ASSOCIATION 7th St. and Indiana Ave. N.W. 70th Series of stock now open (or subscription Payments on shares $1.00 each, payable monthly James E. Connelly Jinn F. Shea President Secretary Member of Building Association Council ot District of Columbia. FOR SALE 6% Interest II'me'II Y NATIONAL ' PERMANENT " —hat »«rved Washing ton families for over 42 years in aiding them to accumulate savings . . . and to purchase their homes and re-financ« their properties. Ask about our advantageous plan. Mmmbmr Building and Loan Ats'n Council of D. C. PERMANENT BUILDING ASSOCIATION \9*9-91A ST. N.W.^