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FINANCIERS URGED TO BUY U. S. BONDS Chase National Executive Talks at Session—Mof fatt Elected by Curb. BY EDWARD C. STONE. Bankers attending the trust con « Pence in New York, including the delegation from Washington, were urged yes terday to b u yI bonds, especially Government bonds, by Wil liam L. Hilde bum. second vice president of the Chase National Bank. The banker advised bonds as the best way of supplying a safe, teas onable in come with the funds placed in their keeping. He added that many people whose in comes are in the "higher brackets" are adding to their bond holdings "to escape from increasing tax burdens." Mr. Hildeburn urged Government bonds as a good investment likewise for the funds of widows, orphans, in capables and other beneficiaries for whom trust officers must act, declar ing that "under existing conditions Government bonds will doubtless re main the most liquid and stable in vestment market-wise, pending the arrival of a more propitious time to reassort the portfolio." Strictly high-grade bonds, he said, we selling at a premium, which re duces the yield to about 3 per cent: moreover, bonds purchased at a higher price may entail a loss because they may be paid off immediately at their face value by "many of the large corporations which have found it ad vantageous and profitable to borrow money at rates much below the coupon rate of its bonds and to retire them under the terms of the bond Inden ture." The bank official was not enthusias tic over the present situation in many railroad bonds and said that the record made by common stocks during the past two years had not been as good as had been expected. Despite Government expenditures, an un balanced budget and possible impair ment of Government credit, he con cluded by asserting that "new funds In substantial amounts should be placed in U. S. bond issues." Many technical addresses relative to the technical problems of operating trust departments were made today when the final sessions of the con ference were being held. Moffatt Heads Curb Exchange. Fred C. Moffatt was elected presi dent of the New York Curb Exchange yesterday, succeeding E. Burd Grubb, j who resigned to take a membership on the Stock Exchange. The new Curb chief has been vice president during the past year, is 46 years old, and started his career as a messenger boy with a telegraph company, later becoming a telegraph operator. Later he went with a Stock Exchange firm and got his first view of the brokerage business. He served two years in the World War. over seas, and then returned to Wall Street. With William M. Spear, he formed the firm of Moffatt & Spear, members of the New York Curb Exchange, on May 1, 1925. Mr. Spear has retired, and the firm is now composed of Air Moffatt, who is the floor member, and Andrew Mullenbach, with offices at Ko. 19 Rector street. In May, 1929. Mr. Moffatt was ap pointed to the Board of Governors of the New York Curb Exchange to fill an unexpired term, and on February β, 1931, he was elected a member of the board for three years, in Febru ary, 1934, he was re-elected for an other three-year term. During the past year, besides holding the office of vice president of the exchange, he has served as president of the New York Curb Exchange Securities Clear ing Corp. and assistant treasure" of the New York Curb Exchange Realty I Associates. Reserve Change Opposed. Washington bankers are strongly •gainst the proposal in the banking act of 1935, introduced by Representa tive Steagall, which suggests com bining the duties of the chairman and agent of each of the 12 Federal Re serve banks with those of the 12 gov ernors. The opposition here relates particularly to the situation at Rich mond. The chairman and agent has for years given out the most complete, accurate and informative monthly re ports on financial, agricultural and credit conditions in the fifth Reserve district. It would be a great mistake, bankers here believe, to saddle this important work onto the Reserve bank's governor, who already has plenty of work of his own to look after. Any such move would certainly make the monthly and annual reports of less value to the banking and busi ness interests of the fifth district. The results would be the same in the other 11 districts. Such reports, if prepared in Washington at Reserve headquarters, would not begin to be as complete, sound and up to date as when prepared in the field, in the opinion of Washington financiers whœe banks are members of the Richmond institution. Banquet Reservations Closed. Reservations for the thirtieth annual banquet of Washington Chapter, American Institute of Banking, have reached the 700 mark, which means the largest attendance at any chapter dinner since 1929, Chairman Frank M. Perley announced today. It has been found necessary to close reserva tions in order that the Seating Com mittee, under the chairmanship of Robert H. Lacey, might complete its difficult duties and have the guest list printed. Walter L. Sanderson, chapter president, will preside at the banquet. Efforts by the Securities and Ex change Commission to encourage the listing on national securities exchanges of corporations whose securities are now traded In over-the-counter or In the unlisted departments of exchanges are arousing great interest among all brokers. This is one of the biggest problems in the work of the commis sion as the over-the-counter business Is in direct competition with the regis tered exchanges. It is felt that the same rules should be applied to all over-the-counter sales that are applied to the big exchanges. Brokers and members of the Exchange Commission agree that there should be advantages in not listing securities. The move to get these issues listed under rule 10, and the reduction of red tape requirements to a minimum, may prove of great importance. NEW YORK BAB SILVEB. NEW YORK, February 14 (ff).—Bar «liver firm, & higher at 54%. • » . ITRANSACTIONS ON THE NEW YORK STOCK EXCHANGE All markets received by private wire direct to The Star Pre v. High. 7% 89 33% 9% 6% 8% 115% 20'i. 174 141 17% 20·* 56% 17% 29^ 117"* 20% 45% 10·,. 46 33% 81* 67 5'4 19lj 23% 8% 32'a 4% 37' s 6% 6 20»» 23». 16% 3*» 12'* 14% 16'» 24 72% 5% 26'ι 40% 112 125% 43 67% 130 24% 106», 84·'» 86S 14% 9', 45% 1% 6'-j 12% 18% 39% 104H. 6'* 11(1 70% 13% 55% 37% 25% 29% 14 5% 1935 Low 5% 84% 29% 8 5% 6% 109% 16% 1% 132% 15 V« 17 48% 13% 25% 110 16% 37% 8 38 26 6*j 57** 3». 13'is 17 6 30% 31-j 28% 5% 4 16% 20 14% 2% 10% 12% 13% 19% 67 4% 20% 32% 106 121 37% 60 126% 18% 102% 79 80' j 11% 7% 37% 1% 4** 10 16% 36 99% 511 85 64% 9% 41% 27% 23% 22% 8% 4% Stock and Dividend Rate. Adams Expr···. Adam· Ex pf (5)... 100a 1 16 2 1 4 11 1 Adam· Millie (2).. Addressograpb.... Advance Rumley... Affiliated Prod(60c) Air Reduction <!).. Alaska Jun (tl.20). Ailes Corp (k) Allied Chem (()..» Allle-Chalmer·.... Alpha Port Cmt(l). Amerada Corp (>).. Am Bank Not· Am Brake Shoe SOc. Vm Can (TB) Am Car & Foundry. Am Car & Found pf. Am Chain......... Am Chain pf Am Comcl Alcohol. Am Crystal Sugar.. Am Crystal Sue pf. Am & Foreign Pwr.. Am & For Pw pf (() Am & For Pw pf (7) Am & For Pw 2d pf. Am Home Prod 2.40 Am Ice Co......... Am Ice pf (6) Am International.. Am La Fran pf (k). Am Locomotive.... Am Mch&Fy(S0c).. Am Metal· Am Power & Light. Am P&L $5 pf (114) Am P&LS6 pf (1H> 2:80 p.m. Bain ι Add 00. Hlfh 6 6% 89 31 9% 5% 8H 111% 17 1% 3 135% 7 16*4 17% S3% 17% 26 «et Low. Cloee. Chse. β - %| 89 +1 31 + Hi 9% + Η I 5% 8% 111 + 16% + 1% 185 β 89 31 9% 6% 8% 111 16% 1% 135 16% 16% S 1 4 5 15 116% 2 17 1 4 2 1 7 20· 3 18 14 8 3 1 1 2 250· 2 8 6 » 8 12 39 10 48 28 7% 65% 4% 20 23% 7% 32% 4% 36% 5% 4 17% 21% 16% 2% 12% 15% 17% 17% - H 53% 53% - % I 17% 17% - H 25% 26 115% 116% + % 16% 17 39 10 48 28 Am Radiator 1232s 14 Am Rolling Mille... Am Safety Razor(4) Am Seating Am Shlpbldg (2)... Am Smelt & Ref... Am S&R6* pf <J3). Am S&R 7* pf (7).. Am Stores (T2H).«< Am Sugar ( 2 )..... . Am Sus pf <7)...... Am Sum T»b <l)...i Am Tel & Tel (#)... Am Tobacco (6)...· Am Tobacco Β < 5 ).. Am Water SYka U). Am Woolen Am Woolen pf..... Am Writ Paper <k). Am Writ Pap pf (k) Anaconda Copper.. Anaconda Wire.... Archer-Dan MtlU·: Armour Del pf 17 ).. Armour of Illinois.. Armour of 111 pf Armour 111 pr pf (6) Asso Dry Good·.... Atch To & S F (h2). Atlantic Coast Lin·. Atlantio Ref (l)...i Auburn Auto Austin,Nichols Aviation Corp Del.. 6 1 X 10s 684s 2 21 71% 4% 24 34% 103 1 123 1 39% 3 66 2 129 1 21% 40 103% 80 81% 11% 7% 38^ 1% 4*» 39 10 47% 28 7% 65 4% 19 22% 6% 32 4% 36*. 5% 3 17% 21% 16% 2% 12% 14% 13% 20% 71% 4% 24 33% 103 123 39% 64% 129 21% 103 80 81 11% 7% H 7% + 65 4% 20 + 23% + 7% + + +1 + % % 32% + % H 1084s 10% 2 17% 2 1 4 1 5 2 19 2 2 1 2 2 38% 104% 5H 106 69% 11 43% 28% 24% 23% 9% 4". 4% - 36% + 5% 3% — 17% 21% + 16% 2% + % 12% - % 15% ·+■ % 137* - % 20% 71% 4% - H 24 +1% 34 - % 103 -1 123 39% - % 66 +1% 129 + % 21% + % 1031·, + ι* 80 81 + % 11% - % 7% 38% - ft 1% 4'-.- + H 10% 17'a + % 38% + % 104% 104s» + % 5** 5** 106 +1 69% + % 11 43 + H 28 - % 24% 23% 9% 4% + V« 38% 1% 4'.a 10% 17% 38% 106 69% 11 42% 28 24% 23% 9% 4% 6% 5 Baldwin Loco 26ai 20 Baldwin Loco pf.. .ι 14% 9% Baltimore & Ohio... 7 β Barnsdall Corp 44% 40 Bayuk Cigar (hl)..i 18 16'» Beatrice Creamery.. 13'» 12*» Belding-Hem(h50c) 17'» 14'» Bendix Aviation.... 1 7;1h 15% Beneficial Loan 1%. •ΐι 34 Best & Co (^)...... 34% 28'). Bethlehem Steel.... 77% 68 Bethlehem Stl pf... 26'ι 21'ϊ Blgelow-San Corp.. 13% 10*» Blaw-Knox 10 8'» Boeing Airplane... 59% 53 Bohn Alum&Br (3). 97 90 Bon Ami (A) (t&>.. 25s4 23% Borden Co (1.60)... j 31% 28% Borg Warner(TH4 > 29 24>-a Briggs Mfg (2).'... 43*2 36·» Bklyn-Man Τ <hlH 96% 90 Bklyn-Man Τ pf 16) Brown Shoe pf (7).. 6% 5 Brunswlck-Balke.. 6% 5 Bucyrus Erie 13 10Va Bucyrus Erie cv pf. 6% 4 Budd (EU) Mfg... 33 26 Budd (EG) Mfg pf. 15 llVi BullardCo 9% 7 Burns Bros pf 15», 14% Burr Add M (iOc).. 22'a 14% Bush Tr Bldg pf ct. 1% 1% ButterlckCo 6 1 9 2 2 11 2 10 2 2 6 1 20 s 1 6 6 10s 5 1 15 5 1 60a 2 1 4 10 120i 1 30 s 4 10s 1 41% 4', 16% 13% 36 37 61 411 a 35*» 4S. 25 la 24% 47 45*» 44% 2% 4*» 5% 7% 2\ 29% 7'a 42% 21 l'a 57 18% 102'a 15*4 85 5% 13 7% 59'* 51»« 40 75 45Vi 112 33 62% 115% 23% IS 40% 34% 42 76 7% 21% 22% 82 2Vt 8% l*/ta 13% 36% 3 12% 11% 33% 33% 51% 36% 28*» 2*4 18's 22% 38·'· « 40*4 38 2 3% 4'·. 5% 1% 26% 5% 35 % 20 % 55% 16',β 101 12% 79 4 % 10% 6% 55 47 34% 67 39% 109% 29% 56% 113% 19% 1 29% 31% 34 V« 71% 5% 19% 18*. 76% 1% 7% % 10% California Pkgd%) 6 Calumet & Becla.. . 1 Canada Dry Ο A (1) 5 Canadian Pacifie... 4 Cannon Mills (2)... 3 Cap Admin pf A (I) 10s Case (J 1) Co 4 Caterpillar Trac(l) x 14 CelaneseCorp 14 Ceiotez Co <k) .. ..„ 1 Celotex Co pf (k)... 20s Cent Agulre U%).. 4 Cerro de Pasco <2)_ 4 Ches & Ohio (2.SO).. 14 Chea-Corp (2%)...t 1 Chi & Ε 111 pf (k)... 1 Chi Mil St PAP pf.. 1 Chi & Northwestern 4 Chi Pneumatlo Tool 2 Chi R 1 & Pao (k)... 2 Chlckasha CO (2).. 16 Childs Co........ .*· 1 Chrysler Corp (1). . 45 City Ic· & Fuel (2) κ 1 City Stores (k).... 3 Coca-Cola (A)(3).. 1 Colgate-PP (60c).. 12 Colg-PaJm-P pf (6) 3 Collins & Alkman.. 1 Collins Λ Alk pf(7).z 60s 5*» 21*4 11% 6% 43% 18 12% 15% 16 36V, 29 69 21*4 11% 9 55 96 u 25 30 27% 42% 96 124 5Vi 6 11% 4% 32% 12% 7% 15 18% 1% 41% 3% 13% 12% 34% 34 55*4 41% 30% 2% 18 23'ι 40*4 42',· 38*4 2% 3% 4% 6% 2*i 27% 5'a 39 20': 1% 56% 16% 101 13 81 4% 10 6% 58% 51% 39% 74% 45Va Colo Fuel & Iron (k) 1 Colo & Sou 2d pf... 20b Col Gas & Elec 62 Col G & El pf Α (β). 1 Col G & El pf (B) (S) 60k Colum PK vtc(ml). 2 Columb Carbon (4) .* 5 Comcl Credit (2)... 9 Comcl C 1st pf (6% ) 10s 111 Comcl Credlt(B)(2) 30s 31% Comcllnv Tr(t2%) 5 60% Comcl lnv cv pf(e6) 1114% Comcl Solv (600... 20 21% Com with Λ South.. 9 1% Comwlth Λ S pf (6) 10 39% Congoleum-N (1 CO) 2 33% ConnRy 4 Lt (4%) 20· 37 Con Cg pr pf ww 6% 40s 74% Consol Film 12 6% Consol Film pf (12) 3 21% Consol Gaa Ν Τ (1). 20 18% Consol Gaa pf (6).. 3 78% Conaol Laundries.. 3 2 Consol OU (h42e).. 1728s 7% Consol Textile..... 1 % Container Corp (A). 1 11% iQl A iV. &*» 21% 10% 6% 43 17% 12% 15 16 36 28*i 69 21% 11*» 8% 54 96'; 24% 30 27 42 96 124 5% 6 11% 4% 30% 12% 7% 15 18% 1% 41 3% 13 12% 34% 34 54% 41 29% 2% 17 22% 40% 42 38% 2% 3% 4% 6',» 2% 27 5% 38% 20 % 1% 56% 16% 101 13 80 4% 10 6 58% 49% 38% 73% 45 111 31 60 114% 20% 1 39 33% 37 74 6% 21% 18% 77% 2 7H % 11% AV. 5*, 21% 11% 6% 43'» 17% 12% 15'» 16 36% 29 69 21% 11*» 8% 55 96Va 24% 30 27% 42 96 124 5% 6 11% 4% 30% 12% 7 Va 15 18% 1% 41 3% 13% 12% 34% 34 55% 41% 30'» 2% 17 23'» 40% 42 38'ί 2% 3% 4% 6% 2*» 27 Va 5% 38·. 20 V 1% 56% 16% 101 13 80 4% 10 6 58% 49% 39% 74% 45% 111 31 60% 114% 21 1 39% 33% 37 74% 6% 21% 18% 78% 2 7% % · 11% AU, . 1 % Contl Baking <B)... 4 1 1 1 + % 68·ίβ 62% ContlCan (2.40)... 10 68*. 68U 68',, + % 34 30 Contl insur 5 31·* 31 31 - *s 1H % Contl Motors 2 1 Vi· 1% l'/A 19's 16% Contl Ο Del (bSOc).. 3 18% 18'/» 18% — % 48 44% Corn Ex Bk & Tr(t) 80* 48% 48 48V« + % 66% 62 CornProd Rat <!).. 4 66Vi 65*i 66V» +1 151V4 149 Corn Products pf (7) 2 152% 152% 152% +1% 6% 5% Coty Ino 1 5% 5% 5% + % 38V.· 35% Cream of WhttJ%. 4 38% 38% 38!j 14% 12% Croaley Radio 2 14 13% 14 26% 23% Crown Cork* S (1) 2 26 26 26 + % 5% 5 Cuba R R pf 40a 5% 6% 5% 6Ή| 5% Cuban-Am Sugar. . 14 6% 6% 6% + % 60% 40% Cuban-Am Sugar pit 110» 60% 50% 50% 3 2%Curtlss Wrlgnt.... 5 2% 2% 2% 10% 7% Curtlsa Wright (A) 6 8% 8% 8% — % 20'4 17Vi Cutler Hammir.... 1 18*» 18% 18'» + 8 7% Davaga Stra (alOc). 3 8% 8 8% + % 30% 24·- Deere ft Co 2 28% 27% 28%+% 20% 19 Deere&Co pf(]20c). χ 5 20% 20% 20% + ft 43% 32 Delaware ft Hudson 12 32% 32% 32% 19'k 14 Del Lack ft West... 1 15% 15% 15% + M 4% 3 Den ft RO W pf.... 1 3% 3% 3% 29% 26% Diamond M (tl%). x 2 28% 28% 28%-% 39% 34% Dome Mines ttSVfc). 3 38 37% 38 12% 10% Dominion 8tre(l.10) 1 10% 10% 10%—% 24% 20% Douglas Aircraft... 2 22% 22% 22% 99% 92% Du Pont de Ν (1.··) 6 94% 94 94%+% 129 126% Du Pont deb <β>.... 6 127% 127 127%+% 107 ΙΟδ Duqueane Lt 1st <S) 10a 106% 105% 105% — % 117% 110% Eastman Kod (5)., β 119% 117 119% +8% 20% 16% Eaton Mfκ ill 6 19% 19% 19% + % 29 23% Electrio Anto Lite.. 6 24% 23% 24% + % 108% 107 Elec Anto Lata pf 7. 20* 108 108 108 6% 4% Electric Boat...... 4 5% 5 5 8% 7% El ft Mus lad 3 7% 7% 7%-% 3 2% EleoFwr ft L.lKht.. 5 2% 2% 2% — % 7% 5% Elee PwrftLt 16 pf. 6 6% 6% 6% + % 8% 6% Elec PwrftLt 17 pf. 11 8 7% 8 + % 20% 14% Eng Pub Svo 15 pf.. 1 19% 19% 19%— % 21% 14% Eng Ρ S 15.50 pf WW 1 20 20 20 -1% 22% 17 Eng Pub Svc *6 pf. . 1 20% 20% 20%-2% 12% 10% Eureka Vac CI (»#o) 2 12% 12V, 12%-% 22% 19 Evans Auto P(50e). 7 22 21% 22 20% 17 Fairbanks-Mora·... 37 20% 19% 20%+1% 80 71% Palrbankg-Mrapf.. 10s 81 81 81 +1 4% 3% Fed Screw Works.. 1 3% 3% 3%+ % 1% 1 Fed Water 8vc (A). 3 111 18% 1644 Firestone (406)·..·' 4 16% 16% 16%+% 6% 2% Follanabee Bros <k> 1 4 4 4 + % 24% 20% Food lU#h (a2»C).. I 24% 24% 24%+% A ' \ 8:30 de PrsT. 1935 Stock and Sales— Hlsù. Low. Dividend Rat* Add 00. Hlfh, 2Γ· 23 Fourth Ν Inv(hSSc) 3 24 15% 10 Fox Film (▲) 33 9% Kit Low. Close. Chse. 23% 23% - Η I 9 9% - % 2 40· 1 i'é 1% Gabriel Co (A) 8% 8 Gamewell Co 7% 6% Gen Am Investor·.. 86 84». Qen Am In pf ww (. 8H 7% Gen Baking (60c).. 7% 6 Gen Bronze 63% 50% Gen Clear <t7) 24% 20% Gen Electric (60e). 4584b 23% 1% 8 7% 86% 8% 6% 64% 1% 8 7V4 86Vj 8% 6». 54% 23% 11% 11 Gen El spec 60e 49 11 4-32 11 3-32 11 34»» 32% Gen Foods < 1.80 )... % % Gen Gas ft El (A)... 63% 59%Gen Mills Gen Mills pf (β). 34% 'A 117V. 116 34V* 30 Gen Motors <1)...- 3812s 31 113 : 107% 3% 8% 13 35 1 % 1 63% 63% 1 118% 118% Gen Motors pf (6).. Gen Outdoors Adv.. 22»* 17% Gen Print Ink <»>.. 97 93% Gen Prtg ink pf (6) 20% 16% Gen Refractories. .. 19% 16'* Gen Refrac ctfs.... 15% 13% Glllett Saf Ras (1). 75% 70% Glllett· Saf R pf<6>. 27V.. 23% Glldden Co (tl.lfc>~ 4%" 3*4 Oobel (Adolf) » Gold Oust (1.20).... Goodrich (B F) Goodrich (B F) pf.. Goodyear Τ ft Rub.ι Gotham Silk Hose.. Graham-Paige..... Granby Consol..... Grand Union Grand Union pf 1%. Grant (W T) (1)... Great Northern pf.. Great Nor 0re(50c). Grt West Su*(2.40) Gulf States Stl 1st.. 15% 9% 18 11% 54'a 45 26% 21 5Vi 3V. 7V» 5 29*; 3&Vi 4% 2% 6% 3 % 20% 30 17% 12% 12% : 10% 29% 26% 67 62 4 1 50« 10s 30% 111% 110% 3V4 9·> 14 10 2 3 5 10 5 2 5 6 1 2 5 1 1 8 1 ο lits 95% 19 18% 14% 74 "a 26'·., 4% 17V« 9% 47 22% 4% 2% 6% 3% 19% 32 13% 10% 29% 62 3>/i 21h !>5'a 18% 18% 13% 74'·, 26i* 4% 16% 9% 46% 22% 4% 2% 6*. 3% 19% 32 13% 10% 28', 62 1% 8 7% 86% + 8V4 6% - % I 54% + % I 23% 4-32 +1-32' 34% - V* I % 63% 118% + 30% - 111% 3V« , 21% + 95Va 19 18% 14 74% 26% 4% ■ 17 9% 46% +1% I 22% 4% - % 2% 6% 3'a - % 19N. -1 32 13% - % I 10», 29S + % 62 + + 6% 4% Hahn Dept Stores... 63% 55 Hahn Dpt Stores pf. 105 101 Hanna (M A) pf (T) 19' = 16*. Harb Walker (50c). 86', 81 Hat C'p pf ww 6 % .. 92% «5 Hazel AtlasGl <b).. 9% : 7% Holland Furnace... 11 9% Holland & Son (60c) 391'» 338 Homestake M(t3S). 36% 31 Houd-Hersh 4 (J2). 8% 7% Houdallle-Hersh B. 3% 2% Houston Oil (lew). 52' » 43 Howe Sound (J).... 12% 8% Hudson Motor Car.. 3% : 2% Hupp Motors 3 5 5 5 4 59't 59% 59%- %| 40s 105 105 105 4 19% 19 84 92 8 9% 19'» + V 84 92' 4 - % 8 9% - % 1 368 368 368 τ IS 3 34 33% 34 8' 10s 84 4 92% 2 8 2 9% 19 8% 2 2% 2 44'-a 5 10 22 2% 44 9% 2% 8% 2% 44'-i - 9"* — % 1 2% 17% 33 69% 4% 15% 7 5 42*4 6% 33 43% 2% 24% 125% 3 1% 12 100U 45% 9% 12 30 \i 55 :4% •2% :5% '4 ?3% '5 26l4 s7% •2 22 Vi 125 i ». s% 98'; 44 8% Illinois Centra) Indus Rayon <1.€S>. Inpersoll-Rand (2). Insur-Sh ct Md(10c) Interboro KpTrilc). Interlake Iron...... int Agriculture.... tnt Agriculture pf.. Int-Carrlers Ltd 20e lnt Cement (h25c).. Int Harvester (60c) lnt Hydro Elec (A). Int Nick Can (60c). Int Nick Can pf (7). lnt Paper & Pw (A) lnt Paper & Pw (C). lnt Paper ft Pw pf.. lnt Print Ink pf (6) lnt Shoe (2) Ini Tel ft Tel 13'4 31% 1 67 2 4" 14', 5% 4'. 38', 57% 73 43" 56' Johns-Manville.... JonesftLaugh 7%pf 1 5 2 1 1 5 2 27% 12 40 2 2% 39 23', 1 126 2 2'» 1 % 1 9', 20s 100 1 44% 1084s 8*i 2 51 40s 61 13% 13% 31 31 — * 67 67 -1 4% 4% + % 14 14 - % 5% 5% - % 4'. 4'4 — V» 38'a 38% 5 5 27·- 27% - % I 39», 40 + %| 2', 2% 22% 23 + %| 126 126 -i-l 2'» 2% % % 9', 9'« - % 99% 100 44 ' a 44% 8% 8% - U 51 51 + %| 61 61 8'i "îVa KaufmannDeptS40o 2*. i'4 Kelly-Spring T .k). 13% 7'» Kelly Sp Tir· 6% ρ t 18'» 15% Kelvlnator Cp &0c.. 95 90*» Kendall Co pf <ί ).. 18** 1β Kennecott C (60c).. 38 29?* Kinney (G R) pi... 21'* 20?* Kresga (SS) (1).... 28*» 23>* Kroger GrABk 1.60. 31 28, Laclede Gas pf..... 281 a 26»ι Limbert Co II).... 96 89i» Leh Port C pf < 3 H ) ll»i 8i* Lehigh Valley R R. 74 69: j Lehman Corp (2.40) 17*» 15i3 Lehn&Flnk (1H). 32*4 27 Lib O-Ford Gl(l.tO) 23 21^3 Life Saver ( 1.60).. 109H102 Llgg& Myers B(t6) 154L« 151U Llgg & Myers pf (7) 19V* 17 LUy XullpCup(lH) 24Va 20:» Lima Locomotive.. 34*» 31·» Loew a ino (1). ■■·« 104'·* 102 Loew'a Ino pf (6'A). 2*» IS Long Bell Lum (A). 36 34:3 Loose-Wiles (2)...ι 21** 19 Lorlllard Ρ (Y2.20). 135'τι 130-2 Lorlllard (Ρ) pf (7). 1τί 1 Louisiana Oil 47Η 39 Louisv & Nash (ί).· 32 28-j McCallCorp (2).... 13 9 McCrory Stra A (k) 43 36ί·» Mclntyre Porcu (2). 97 90:2 McKeesport Τ Ρ (4) 8% 7: McKesson & Rob... 42". 37 McKesson & Rob pf 15*. 12 McLellan Storea (k) 44'» 38-» Macy (R H )& Co<2) 22', 18** Magma Copper (2).. 2 1% Malllson & Co 19"» 13 Malltson & Co pf... 6*2 4 Manatl Sugar pf (k) 5W 5 MaranchaCorp.... 6% 6 Marine Mldld (40c). 7 3:» Market St Ry pr pi. HVi 8rà Marshall Field 32 27:s Matbleson Alk(lH) 36% 33 Maytag pf ww (1).. 91 841i May tac 1st of It 1. - 43'* 41 Melville Shoe t2V4 -- 27'» 24H M es ta JJach (1Η)>· 3% 3 Miami Copper 12'» 11 Mld-Cont Pet(hBOc) 62 58 Minn-Hon Reg(f3). 5*. 4-S, Minn Mollne Pow... 6U 4% Mo Kan * Texaa... 14'i 9>* Mo Kan & Texaa vt. I6V2 13% Mohawk C M (h25c) 60'n 55 MonsantoC (1).... 30Va 25y> Montgomery Ward. 65 61 Morrell(J)&Co 3.60. 28% 22'i Motor ProducU.... ll*i 8> , Motor Wheel 12H 9 Mulllns Mfs .·····* 59 36"* MulllnaMfg pf.... 81-» 8>* 8'* 1*4 . 1*. 1*. -f 10'» 10 101. — ** 17'. 17 17 T H 94', 94'4 94's 16'.. 16** 16'-.. 32 32 32 — H 20', 20' 2 20a + H 25' 2 25W 25'/. — •"S* 28'-.. 28'2 28', « 27*. 27*» 27*. + v. 96 96 96 tl 8'i 8'* 8'* -t t,. 72 71'a 71'-j — *. 17 17 17 + 28'» 28% 28'» -r Ν 22 22 22 + M 105 104 Va 105 154 154 154 — V4 18', 18V4 18H — % 19Vj 19Va 19U — % 33'» 33 33Vt. + V4 104 104 104 — Va 2Vi 2'/* 2'.i + 35 34 Va 34'.· — Vt 20'4 20 20'* 131 131 131 —1 1% 1% It* 42'. 42'» 42V. + y* 30'2 30'·. 30'a + V» 10'» 10 10'. 40*» 40"·, 40*. — Vi 96 95', 96 4 *4 8 » '» 8 + h 41'■» 41'» 41"·» — '-3 13 13 13 39 38'» 39 + 20 19'» 20 1*» IS IS. — '» 14'. 14 14'-. 1'» 5** 5*, 5*, — % ÔN δ'·* 5'* 6'. 6'4 6'. — H 5's 5'a 5'2 + Vi 8'* 8·'» 8*. — Vt 27'j 27'a 27'j 37 37 37 + li 90'2 90 90 L 43'i 43 43v* + *» 26'» 26*» 26', + H 3 3 3 HVi ll'-j 114 65'j 63 654 +3H 5 4 % 4% — % A\i 4% 4% — a 10 10 10 14 14 14 57*4 57*» 57*i 26*» 26'/* 26% + % 63*4 63*. 63% — Vi 24 24 24 9 8'i 9 + H 9Vi 9% 9H 54% 5414 54 Vi — V» 2 1 2 6 10s 784s 90s 5 Χ 10s 3 20s 1 2 ζ 1 8 2 χ 5 4 3 2 12 1 5 3 3 10s 2 1 4 9 6 2 6 2 2 3 3 1 10s 20 s 1 256s 100s 2 2 1 90s 2 S 2 1 2 8 1 1 1 1 816s 1 1 2 1 40s 19% 15 Νash Motors tu... ju ίο ιο·λ it> — 8V« lli Nat Aviation 4 7'4 7 7 — 30% 27% Nat Biscuit <!).... 24 28% 28 28% — % I 145'i 142 Nat Biscuit pf (7).. 1 142% 142% 142H 18% 15% Nat Caah Reg A 60o 1 16% 16% 16% 17 15% Nat Dairy Prod 1.20 16 16% 16»β 16% — %| 4% 2% Nat Dept Store <kl 42 3'* 3% 3% — V 33*. 24Vi Nat Dp St 1st pf < k ) 930g 34% 32% 33% - 1 29% 24% Nat Distlllers(SOc). 8 27% 27 27 — ? 168%145 Nat Lead (6) 1 154 154 154 -1 7% 6% NatPwrft Lt <*0c) 4 6'* 6*» 6*4 % % Nat Ry Mex 2d pf... 2 % % % 50% 46>< Nat Steel (tlVi).... 5 47 47 47 - * 47** 41 Nat Supply pf 20s 45M 45 4514 + V 11*» 9% Nat Tea <«0c) 1 9% 9% 9** - % I 26* 22*< Nelsner Brothers... 7 28% 28 28 — V» | 48% 43% Newbprry (JJ ) 1 60.. 3 48 48 48 + 28'» 24% Ν ¥ Air Brake 2 26% 26V;, 26% + 21*i 15?* Ν Y Central R R... 25 16% 16% 16'a + 25 177* Ν YC ft St L pl.... 2 18% 18% 18Vi 8'.· îUNÏNHft Hartford 2 6% 6% 6% — 14*» 10 NYNHftHpf.... 1 10% 101-, 10% - % | 16',ί* 1IV» Ν Y Shipbldg <4»c). 3 11% 11% 11% 85 80 Ν Y Steam pf <6)... 10s 84 84 84 175 167% Norfolk ft W (tlO). 1 170 170 170 4 3 North Am Aviation. 5 3 3 3 — 13% 11% North Am Co (1)... 15 12'/» 12 1214 42'/* 38 North Am Co pf (I) 2 42 41'* 42 - 21% 16% Northern Paclfle... 15 17 16% 17 + 32% 26V, NorwalkT&R pf 3% 20s 26% 26 26 -% 10% 9% Ohio Oil (U46C).... 4 9% 9% 9% - % 4% 3V4 Oliver Farm Equip. 7 3% 3% 3% 4% 4 Omnibus Corp 2 4*i 4% 4% + % 15% 13% Otis Elevator (60c) 11 14% 14% 14%—% 108 106 Otis Elev pf (6).... 80s 107% 107% 107% + % 88 83% Owens-Ill Glass <4> 1 88 88 88 14% 13% Pacific G ft Β ( 1 % ). 1 14% 14% 14% + % 23% 2iy* Pacific Lighting (I) 9 23 22% 22%-% 72% 70 Paclflo Tel & Tel (β) 60» 72 72 72 117 111% PaciflcT&Tpf <6> 100s 117 117 117 8% 7 Pac WnOil <h40c). 1 7% 7V4 7% - % j 5% 4% Packard Motor 20 4% 4% 4% 4% 3* Par-Publlx ctfs(k). 8 3% 3% 3% 3% 2% Park Utah 1 2% 2% 2% 1% % Parmeiee Transport 9 1% 1 1% + 1% 1 Path· Exchange... 4 1% 1 1% + 12% 10% PaOno Mines 12 1014 10 10 -%| 1% 1% Peerless Motor..... 1 lVfe 1% 1% — 70 64% Penick & Ford (S).. 1 65% 65% 65% — 74 64% Penney «4 C) kl 40. 3 69% 68% 69% + 3% 2% Penn Coal & Coke.. 2 3V« 3% 3% 25% 20 PennRR(l) x3384s 21% 21% 21% 36% 30 Peoples Drug Strs.. 1 31 31 31 23% 19^ Peoples Gas Chi.... 5 21% 21 21 16% 13% Phelps Dodge<h76c) 4 15 14V* 15. + 4% 3% Phlla & Read C ft 1.. 3 3% 3% 3% - «6% 38 phlllp Morn· (1)... 2 40 40 40 16 14% Phillips Petrol (1). 4 15% 15 15%—%] 1% % PUrc·-Arrow ik)... 22 1% 1 1% % Pierce Petroleum... 3 1 1 1 + 1 10% 8% Pittsburgh Coal.... 288s 9% 9% 9% 42 30 Pitts Coal pf 1 35 35 35 173 173 Pitts FW&Cpf (7). 20s 172 172 172 -1 9 6% Pitts Screw ft Bolt. 3 7% 7% 7% + % 37% 30% Pitt·UnitedCpf... 10· 32V. 32% 32%+% 8% 7% Plymouth 0(i75c). 1 7% 7% 7% 4% 8 Port Rio Am Tob A· 3 3 3 3 — % 3% 2 Preeaed Stl Car (k). 2 2% 2% 2% 17 10% Preaaad Stl C pt (k) 1 18% 13% 18%—1 46% 42% ProcftGamb 12 46% 46% 46% + M Pre*. 1635 Hlsh 274 71 ~93 524 7*4 61 104 Low. Stock and Dividend Rat·. K:30 p.m. 234 Pub ServNJ <2.80) 66V Pub Serv Ν J pf <6). 90 PubServ Ν J pf (7).. 464 Pullman Ino <8)..·> 6V Pur·OU 534 Pur· Oil pf 8V Purity Baker!·· (1) Add 00. Hich. 5V 4V Radio Corporation.. 624 53», Radio pf A (!%)... 44'·, 354 Radio Corp pf <B).. 2V 1% Radio-Kaith-Or <k) 21 18% Raybestos-Man (1). 894 384 Reading 1st pf (2).ι 64 5 Real Silk Hosiery.. 39 35b Real Silk Hoa pf 114 8V Remington-Rand... 80 71V Remlngton-R 1st pf 744 70 Rem Rand 2d pf.... 3 V 24 Reo Motor Car..... 154 12'a Republic Steel 49'-» 39». Republic Steel of.. 884 85 Revere Cop Λ Br pf. 10s 51*» 464 Reynolds Tob Β (3). 15 26 23V, Roan Antelone Ltd. 20 14 2 2 1 5 10a 4 30 3 4 6 1 1 2 10b 5 4 10a 2 1140s 3 23V 69·* 90*» 49·.» 6% 54 9V 54 60V 41% 1% 19». 39'j 5·? 35 9·/* 80 74** 24. 13 V. 42 84»i 47V 23V Met Low. Close. Cine 46 112», 17V 2 6». 28·, 59'i. 4 26'» 44 404 2 494 9 14'» 5·» 9'» 73», 11 7», 19'» 14'» 109', 23'» 12». 19·» 164 20», 5». . 36 9»» 40-1, 7 9'ϋ 19' « 4', 5*» 12», m 32·'» 113 25' 3 43·, 15», 624 9··. 5 3·'» 21 674 118», 2i, 9', 38·., 110 •14», IV, 6 23», 55 V 21 4 33 1»» 45'·, 7», 9 V 41., 7», 6H», 8·.·, 6'·, 17», 13', 107V, 20 114 14 10», 14', 4·, 33 8V 35 70», 17 3·, 3», 8'» IV, 29·'» 111 23», 39», 13 58», 6', 3'-» ' »» 7», 65 115·, IV 6·, Safeway Stores (3 ) 5 40' i Safeway Strapf <T) 100a 111 St Joseph Ld (40c). 584a 14», St L San Fran (k).. 2 1·, Savage Arm· 2 6", Schenley Distiller·. 3 25'., Scott Paner (l.t·).. 80s 594 Seaboard Air L (k). 5 V Seab'd Oil(DelHtl) 1 25 Seagrave Corp..... 1 3'» Sears Roebuck 3 35 V Second Nat Invest.. 5 14 Sec Nat Inv pf <J2). 50a 44 Servel lno 3914a 8'i Sharon Steel Hoop. 1 12 Sharp & Dohme.... 1 44 Shattuck (FO) 25c.. 9 8', Shell Union Oil pf.. 1 73 4 Silver King C(40c)„ 3 8», Skelly Oil 5 7»» Snider Packing.... 2 19'» Socony-Vae»60c).. 9 14 Sol Am Inv pf(o%). 1 109 So Por Rico Sug (2) 4 22 South Cal Ed (14)- 2 12 Southern Pacific... 17128 14', Southern Railway.. 2 11', Southern Rwy pf... 3 14'·.· Sparks-Witblngton 1 4', Spencer Kellog 1.60 2 35'·, Sperry Corp (26c).. 2 8'» SplcerMfgpf (I).. 180· 33', Splegel-May-Stern. 2 73», Stand Brands (1) .. . 16 18 Stand Com Tobacco. 1 4 Stand Gas&E Î4 pf. 3 4'» Stand Gas&E $6 pf.. 1 9*» Stand Invest Corp.. 1 IV» Stand Oil of Cal (1) * β 30U Stand Oil Exp pf(5) 5 113 Stand Oil of Ind (1 )x 9 23'» Stand Oil Ν J(tH4>x 2550a 40», Starrett(LS) (hSPc) 3 14 Sterling Prod<3.80) χ 4 61 Stewart-Warner. Stone & Webster... Studebaker(k).... Studehaker pf (k).. Sun Oil <J1). 1 6 393 10 4 1 8 66 Sun Oil pf (6) 10a 118' Superior Oil 2 2' Superior Steel 1 7' 23'-» 69 90 48»» 6% 54 9'/. 5 60·/» 40», 14 19V 394 54 35 94 79*» 74 V 24 13', 41»» 84", 474 23 40 110'» 14V 14 6V 25 59', V 25 3'» 35', 14 44 8V 12 44 7», 734 8», 7'·, 19 13», 109 21 12 144 114 144 44 354 8'» 334 734 17», 4 44 9V 14 30 112', 23»» 40 13'. 60V 74 3'» 9', 54 21V 35"» 104 19 7 44 5 34 10 87'·.· 74 36V 5'» 3», 424 8», 4 V 19 33 84 154 6 34 4 24 8V 84 5V 32»» 5 24 36 Telautograph (1>... Tennessee Corp.... Texas Corp (1).... Texas Gulf Sul (2). Tex Pac Land Trust Thatch Mfg <h2ac). The 1 air .··.......· Thermold Co Third Avenue...... Thompson Starrett. Tide Wat Asso Oil. . Tide WAO pf(j8 4). Tlmken-Detrolt.... Tlmken R Β (1). ... Transamerlca(25c) Trl-Contl Corp Trlco Prod < 2 4 )... 3 2 12 20 18 V 1 2 1 1 12 5 1 4 13 66 118· 24 74 8'» 4», 19V 34'» 34N. 9··» 94 23V - V 69^ +1H 90 -1 48V - 4 64 + 4 54 94 54 + 4 60V - V 41V + V« 1% 19V 394 +1 54 τ 4 35 - 4 94 80 74V - 4 24 - 4 134 + 4 42 +1 84», - 4 47 V + 4 23 - V 40 V + ». 111 + 4 14V 14 64 4* 4 25 59·, + 4 V 25 34 - 4 35·, 14 44 -3 8", + 4 12 44 8'·» ' t 73·, 2'. 8V -r 4 7V -t- 4 19 - », 134 - ', 109 - 4 22 + ', 12 14», - 4 114 144 -1 44 - V 35 V + V, 84 334 -14 734 + 4 17'. - ■» 4-4 4'i — », 9V - >/« 14 301» 112', 23». - 4 40'» — '» 14 — 4 60»» - à 74* 3'. V — V 74 -14 66 -1 1184 24 9 44 194 74 34 4 2s» 8V 18 74 3», 4 2»» 84 86V 86 6 6 344 5·, 3', 344 5i» 3·λ. 3», - », 4 2S. 8», - 4 86 6 34', -r 4 54 34 1 37· 37·, 37·, - 4 2:30 p.m. Prey. 1836 Stock »nd Bale·— net High. Low Dividend Rat·. Add 00. Hlth. Low. Close Chte. 26% 18V4 Twin City RTpf.. 360» 27% 25% 27!4 -rl% I 2% 1 % Ulen & Co 1 BOH 45 Union BagAPap(4). 2 48 44 Union C AC (1.40).. 26 16% 14% Un Oil of Calif (1).ι 5 111% 96% Union Paclflo <·)... 6 88% 82% Union Paclflo pf (4) 2 15% 12% United Aircraft.... 712· 6% 5% United Air L rte... 4 50 46 United Carb (2.40). 5 3 2% United Corporation. 36 29% 23% United Corp pf (8)·· 14 13% 10% United Drug 3 75% 71% United Fruit <»)...■ 5 12% 10% United Gas Imp(l). 38 33% 25 Unit Piece D W pf.. 60» 147% 143 U S Gypsurn pf (7). 70· 6% 5 US Hoffman 2 6% 5% U S Leather......vi 2 12% 9% US Leather (A)..., 6 22 17% US Pipe & F (60c). , 2 7 5 (J S Realty A Impr. 1 17% 13% US Rubber 3 42% 33% U S Rubber let pf.. 3 124' « 106% U S Smelt A R (b9). 4 40'* 34% US Steel 30 94 85 Ο S Steel pf 42). ... 6 126% 119% U S Tobacco (t7i4) 1 150 149% U S Tobacco pf (7).. 20· 7% 4% United Stores (A).. 1 65'a 85 Unit Stores pf(3%) 1 136% 133% Univ Leaf Τ pf (8).. 60» 2% 1% Unlv Pipe A Rad... 3 16% 12 Unlv Pipe A Rad pf. 380· 2 1% Util Pwr A Lt (Α).. δ 1 2 1 1 1 1 50» 20» 1% 48 47% 16 100 85 13% β 49% 2% 28% 11% 73% 10% 27 147 5% 6% 10>4 18% 5% 14% 34% 113·» 35% 87 '/a 130 150 5 55 134% 1% 17 1% 1 17' ι 11% 35% 3% 25', 85 72\ 2% 6% 32% 3% 10» 20% 1% 4% 23% 1% % Vadsco Sales Corp.. 21% 16% Vanadium Corp..... 12% 11% Van Raalt· 36 34% Vick Chem (t2.40). 4% 3% Va-Car Chemical... 27% 20% Va-Car Cham 6% pf 85 72% Va El & Pwr pf (6). 81% 71 Vulcan Detin <a4).. 2% 1% Wabash (k) 3% 2% Walworth Co 6% 5% Ward Baking (A). .i 32 28%· Ward Baking pf (2) 4% 3% Warner Bros Pic. .. 24% 18 Warner Bros Pic pf. 1», 1 Warner-Quinlan... 6% 4% Warren Broe 28 24 Warren Fd y 4P (I). 35% 30'a Wessn' OAS t87%c. 53 46% West Pa Elec A (7) . 54 45 West Pa Elec pf (6) 60% 56% West Pa Elec pf (7) 102% 95 West PennPw pf(6) 110», 104'-.· West PennPw pf <7> % % Western Dairy pf Β 9% 7% Western Maryland. 7% 4% Western Pacific pf. 34% 27% Western Union.... 27 24 Westlngh'se AB 50o 40% 35% Westing house Elec. 99 90 Westlngb'se 1st 3% 58 46% Wheeling Steel pf.. 18% 12% White Motor 9% 6 White Sew Mach pf. 7 5% Wilson & Co 31% 25', Wilson & Co (A)... 100 93% Wilson ACopf (J7) 54% 51 Wool worth (2.40).. 21% 16% Worthlngton Pump 44% 35 Worth Pump pf A.. 24 20% Yale & Towne (60c> 2 23 4% 3% Yellow Truck 212s 3% 41 38 Yellow Truck pf... 10s 39 21 18*4 Young SprWireil ). 3 19% 21% 16% Youngstown SA T.. 1 17% 29 36% 10s 46 50» 46 70s 55% 10s 100 70s 110% 1 % 1216s 8% 7 6% is 47% 46% 15% 99% 85 13% 6 48% 2% 27% 11% 73% 10% 26 147 5% 6% 10 18% 5% 14 34 113% 35 86% 130 150 5 55 134% 1% 15% 1% 1 17% 11% 35% 3% 25% 85 72% 2 2% 6% 31% 3% 20% 1 4% 23% 35% 46 45% 55 100 110 1% 48 47 15% 100 85 13% 6 49% 2% 28% 11% 73% 10% 26 147 5% 6% 10 18% 5% 14 34% 113% 35% 86% 130 150 5 55 134% 1% 16%. 1% + % +2% + %| +1 - % + % — % -1 ·+■ % — % + % - % + % ι + -t- % I — 1 +3% I 1% 1 + 17% — 11% 35% - 3% - 25% - 85 72%· + 1%| 2 + % 2 % - % I 6% - 't I 32% τ 3% 20% — 1% 4% - % I 23% -1% 36% - 1 % 46 46 55 100 no — lv -l'j 28% 24 14 38% 30s 92%· 1 55 50s 13 i% 6 24 28% 4 97 9 54 1 17% 20s 39 8 5 27% 24 38% 91% 55 13 7% 5% 27% 96% 53% 17% 39 22% 3% 39 19% 17% 8 - % 5% 28% - % ! 24 - 38s, + % I 92% -, 1 55 — % 13 -3 7% + % 6 + % 28% -1% I 97 +1 53% — % I 17», - % 39 +1 23 3% 39 19% 17% % ! 2%· 1% Zenith Radio 1 2 2 2 + % 4% 4 Zonlt· Products... 6 4% 4 4% τ % Sale* of Stock· on the Wew York Exchange. 11:00 A.M 110,000 12:u0 Noon 180,000 1:00 P.M 240.000 2:00 P.M 30O.000 Dividend rates >i elven Id the above table are the annual cash payments based on th· latest quarterly or half-»earlj declarations (Unit of trading less than 100 «hare» tPartlj extra IPlut in stock hPald last year—no regular rate bPgysble In stock ePeyable In cash or stock fPlus SI In special oreferred stock ePlus Id stock aPald this year lAccumuIated dividends kCompanles reported in receivership or being reor ganized mPlus 5% In stock oPlus 3«& in stock dPJus 2* in stock xE* d vldend SECURES CONTROL OE UNITED VERDE Phelps Dodge Corp. Victor in Vote Contest With American Smelting. By the Associated Press. NEW YORK, February 14 —Phelps j Dodge Corp. was the victor yesterday i in a contest with the American Smelt ing & Refining Co. for control of the i United Verde Copper Co. At the annual meeting the board of ! of directors nominated by Phelps J Dodge was unanimously elected. Ear lier in the day. it had been rumored that the American Smelting would make an offer to United Verde stock holders et the meeting. It was under stood, however, that an agreement was reached whereby American Smelting withdrew before directors were elected. It was learned last week that Phelps Dodge had acquired a substantial mi nority interest in United Verde from the heirs of the late William A. Clark, who developed this important Arizona property. It was not clear, however, whether Phelps Dodge had enough stock to control the company. Apparently American Smelting will keep some interest in the company, however, for in Butte. Mont., executors of the estate of W. A. Clark, jr., sought permission to sell 35,000 shares of United Verde to American Smelting at $55 a share, and in so far as could be learned, the transaction will still be completed if approved by the court. Of the former directors of United Verde, Walter W. Aldridge, George A. Clough, Henry Krumb, John H. Hall, jr., and Rodney W. Williams were re elected. New directors, all Phelps Dodge offi cers, named were Cates, president: Cleveland E. Dodge, vice president; J. P. McClelland, vice president, and H. Dewitt, a director. New York Cotton By the Associated Press. NEW YORK, February 14 —Except for further near-month liquidation or switching into later deliveries, busi ness In cotton was quiet again today with prices holding fairly steady in absence of selling pressure from the South. Small offerings were absorl»ed by the trade or covering, but after sell ing up from 12.39 to 12.44 for May, or 5 points net higher, prices eased slightly under realizing. The midafternoon market was net unchanged to 2 points higher. Liverpool Quotation·. LIVERPOOL. February 14 (ΑΊ.—Cotton. 3.000 bales, including l.SOO American. Spot in fair demand; prices 1 point higher; Quotations in pence. American strict good middling. 7.fi2; good middling. 7.32: strict middling. 7.IT: middling. 7.02: strict low middling. 6.87; low middling, 6.62: strict eood ordinary. 0.42: good ordinary. 6.12. Fulures closed steady March. 6.80: May. 6.74; July. 6.60: October. 0.56; December. 6.53; January. 6.52. PRODUCE EXCHANGE NEW YORK. February 14 UP).—Produce Exchange stock list: 'Noon quotations.) Sales in hundreds. High. 'Low. Last. 40 Admir Alaska O... .20 .19 .20 10 'Altar Con Mns... .17 .16 .17 2 Ana Wupp 4H 4«t 4S 2 Β G Sandwich.... iy> 1V» 1'» fl -Harvard Brew 2H 2*4 2Vm β 'Penn York Ο Si Q .50 .50 .50 1 «eimor^ërew *£ *£ 1 blrr.On OreW . · · * · 11 Vm rm 2 West Indies 8ug... 2 2 8 1 Willys Overl .31 .31 -»1 'Listed. ο JAN FEB ΜΛβ APR MAY J UN JULY AUG SEPT OCT NOV DEC ! 1 11 ! , i?o" WEEKLY AUTOMOBILE PRODLCTIOV IN THOUSANDS OP CA55 J_,qq Bendix to Keep Zenith-Detroit Executive Staff By the Associated Press. SOUTH BEND, Ind., February 14.— Vincent Bendix, head of the Bendix Aviation Corp., yesterday announced the addition of the Zenith-Detroit Corp. to the group of automotive, air craft and aeronautical subsidiaries controlled by his firm. The Detroit firm hereafter -will be known as the Zenith Carburetor Co. and operations will be continued as before in the Detroit plant, Bendix said. "Through the addition of Zenith and in conjunction with its co-sub sidlary, the Stromberg Carburetor Co. of South Bend, Bendix now makes available to the industry facilities for unlimited development in carbu retion of all types," Bendix said. The executive staff of the Zenith Co. will continue to be headed by Victor Heftier, general manager, with B. W. Westcott, as vice president and assistant general manager, assisting him, Bendix s tatted. The two car buretor firms controlled by Bendix will function separately, he said, with Zenith taking over the distribution of Bendix-Stromberg products in Europe. SHORT-TERM SECURITIES. (Reported by Chu. Ο. Barney & Co ) Bid Offer Allis-Chalmers Co. 5s 1037. 101*4 101*4 Amer. Beet 8ugar 6s 1040.. Oil'i 100 Am. Tel. & Tel. 5%s 1043.. 112% 113 Atlantic Retain* 5s 10.17.. 107*» 108 Bethlehem Steel 5s 103β... 103% 104 California Packing 5s 1040 104 105 Canad Nor. Ry. 4%s 1035. 09% 100V, Ches. & Ohio Ry. 5s 1030. . 111% 111% Chi Oos L» & Coke 5s 1037 104% 105 Ohi. Northwest. 6'4s 103β.. 62% 64 Colorado & So. 4%s 1035.. 03% 04ft Delaware & Hudson 5s 1035 100% 101% Den & Rio Or. 4'^s 1936. 32% 33V4 Edison El. Ilium. 4s 1030... 107 Oen. Pet. Corp. 5s 1040... 102% 102% Gen. Pub. Service 5%s 1030 03% 05% Ootnam Silk Hos. 6s 1036. 93% 04 Grand Tr. Canada 6s 1036 105% 106 Great Northern Ry. 7s 1036 91% 02 Illinois Central 6%s 1936.. 09% 100% Intl. Tel. & Tel. 4%s 1039. 70% 70% Late Erie & West. 5s 1037. 102% 103% Lehleh Valley Coal 6s 1038. 05% 05% Louisville & Nash. 5s 1037. 107% 108% Michigan Central 4s 1940. 104 ..... New York Central 6s 1035. 07 08 Ν. Y.. Chi. & St. L. 4s 1937. 101% 101% Ohio River R R. 5s 1936. . 102% 103% Penna.. R R Co. 614s 1036. 105% 105% Portland Gen. El. 5s 1935.. 1Q0% 101 Pure OH Co. 5 %s 1037 101V. 101% Rep Iron & Steel 5s 1940. 102% 104 Sinclair Cons. Oil 7s 1937. . I03V„ 103% Vanadium Corp. 5s 1941... 00% 01 Webarh Rwy. Co. 5s 1939 . 94's 95 Warner Bros. 6s 1039 55% 55% MONEY MARKET. NEW YORK. February,. 14 UP).—Call money steady. 1 per cent aU day. Time loans steady. 00 days-β months, %»1 per cent. . . Piime commercial paper, %. Bankers' acceptances unchanted. Rediscount rate. New York Reserve Bank. 1% per cent. DIVIDEND ORDERED BY UNION PACIFIC $1.50 on Common Will Maintain Quarterly Rate Paid Since By the Associated Press. NEW YORK, February 14—Direc tors of the Union Pacific Railroad Co. ordered a dividend ol $1.50 on the common stock, payable April 1 to stock of record March 1. The company has paid this amount quarterly since July, 1932. CHICAGO LIVE STOCK. CHICAGO. February 14 i/P) (United States Department of Agriculture).—Hogs. 16.000, including 6.000 direct. Market mostly 15 higher than Wednesday. Weights above 200 pounds. 8.40a50; top. 8.55; 140-200 pounds. 7.40a8.40; slaughter Digs. 5.75a7.50; good Decking sows. 7 75a85; light light, good and choice 140-160 pounds. 7.50a8.10: light weight. 160-200 oounds. 7.85a8,40; medium weight. 200 250 pounds. 8.25a55: heavy weight. 250 350 pounds. 8.40a55; packing sows, me dium and good 276-560 pounds 6.75a 7.90; Digs, good and choice. 100-140 pounds. 5.75a7.BO Cattle. 5.000: calves. 1.500. Very meager run fed steers and yearlings here. Strictly good and choice offerings steady. Others strong to 25 higher than Wednes day's late market. Largely a forced trade ail through list killers being obliged to buy for numbers All she stock strong to C5 higher Bulls strong to 10 ut. and vealers steady to strong. Best fed steers early. 13.75; some held higher. Very little here of value to sell above 12.00. Choice 911-pound heifers 11.25. Slaughter cattle and vealers; steers, good and choice. 550 900 pounds 9.25al3.0O: 900-1.100 pounds. 9 75al3.75: 1.100-1.300 pounds. 10.25a 14.00; 1.300-1.500 pounds. 10.75al4 00; common and medium. 650-1.300 pounds, 5.00al0.75. Heifers, good and choice. 550-750 pounds, 9.00all.25; commom and medium. 4.50a9.00; cows. good. 6.50a8.50; com mon and medium. 4.o0a6.50; low cutter and cutter. 2.75a4.25; bulls (yearlings ex cluded). good (beef I, 5.00a7.00; cutter, common and medium. 3.50a5.35; vealers good and choice. 7.00a9.00; medium. 5.50 a7.00: cull and common. 3.50a5.50. Stocker and feeder cattle—Steers, good and choice. 600-1.050 pounds. 0 00a8.25; common and medium. 4.75a6.00. Sheep. 13.000; opening slow; fat lamb undertone weak to 26 lower; sheep and feeding lambs about steady. Bids and sales, good to choice slaughter lambs. 8.25 •65; choice lots held at 8.75 upward Few good to choice ewes. 4.50a5.00. Slaughter sheep and lamb·—Lambs 90 pounds down, good and choice. 8.25a90; common and medium. 6.75a8.35; ewes. 90-150 pounds, good and choice. 3.80*5.35; all weights, common and medium. 3.00a4.2A: feeding lambs. 50-75 pounds, good and choice. 6.25a7.50. Official estimated receipts tomorrow— Cattle. 2.000; hogs. 11.000; sheep. 9.000. By the Associated press. LONDON.—Quotations staged a smart recovery on the 8tock Exchange today, operators throwing off their nervousness and continuing their buying, which started •iter Wedneîday's close. Gilt-edged se curities led the general advance, which was maintained with the exception of home rails and German bonds, both groups easing on profit-taking. The market closed firm. PARIS.—International Issues recovered on the Bourse today due to favorable ad vices from London, while strenaUi in rentes lifted French issues. The closing was firm. BERLIN.—Traders' attention turned from stocks to bonds which were firmer on the Boerse todw. The closing wig ex tremely quiet. July, 1932. FOBEIGN MARKETS. t es BEAT TIME IN NARHNGE Few Specialties Go Higher, but Others Register Little Change. > — BY VICTOR El'BANK, Associated Press Financial Writer. NEW YORK, February 14.—A >w specialties moved up in today's stock market, but the general run of equi ties held to an extremely narrow groove. Among gainers of around a point <# so were Wilson & Co. "A," Corn Prod ucts and Fairbank.s-Morse. Such is sues as American Telephone. United States Steel, Consolidated Gas, Gen eral Motors. Santa Fe and New York Central were virtually unchanged. Transfers approximated only 400, 000 shares. While speculative sentiment seemed to be a little more bullish than other wise, brokers reported that most of their customers were in no hurry to desert the sidelines pending the Su preme Court's pronouncement on the gold controversy. Market technicians pointed out that the recent small trading volumes might indicate a large amount of equities business is accumulating under pres ent price levels and that any real stim ulus would be reflected in a sharp ex pansion in dealings. At the same tune the cautious attitude in the financial sector showed few signs of relaxing. A more hopeful view of the labor situation was taken by some observers following the publication by the Amer ican Federation of Labor of its regular survey of business in which it was stated that strikes this Spring would jeopardize recovery. A gain in cotton consumption In January, as reported by the Census Bureau, was seen as further proof of economic improvement. Consumption for the month was estimated at 546.787 bales of lint compared with 413,535 bales in December. Chicago Grain By the Associated Press, CHICAGO. February 14—Enlarged selling on wheat price advances led to late reactions in all grains today. A let-up in rural demand for corn was also reported, and had a late bearish influence. There were reports, too. that a bumper crop of new corn was expected in Argentina. Wheat closed easy, '„-l3 cent under yesterday's finish. May, 96-'\a963i; corn, U off to '2 up. May. oats at decline, and provisions varying from 10 cents setback to a rise of 5 cents. WHEAT— Open. High. Urn- Close. Slav i»:3» '« .ftii*»-3. July nu", ;n"4 *0', September.. .#7'2 .£?'« CORN— March S.O, M5>* >4's sr,3, >4T| ,H54,.lj July .?!*' ι *"'« .79H .7P»»-3« September.. .76!β .76'τβ .753·» .76^4 OATS— May 51 »« .51s. .51 .51-51*% July 44 .44 .434 .43'% September.. 415β .415e .40*4 .40*4 RYE— May βδ3® .65 5 β .'»47β .65 Ls July ... .65 .653β .H4se .«4*4 September.. .6512 .βό'ζ .64^4 .647· BARLEY— May 74 July ..··· ··■·· ···· ···· «68 LARD— May 13.50 13.60 13 45 13.47 Jul ν . . ;M65 13.7ft 13.57 13 60 September 13.70 13.80 13.67 13.70 FELLIES— May . ... 16.50 1«.50 July .... 16. *5 1K.N5 16.70 16.70 Chicago Cash Market. Cash wheat. No. 3, red, 99; corn. No. 3, mixed, 891No. 3, yellow, 89\-90»4; No. 3. white. 96'a-?i: oats. No. 3, white, 56' 2 ; rye and buckwheat, no sales; soybeans. No. 2, yellow, 1.22; barley, 75al.20; timothy seed, I6 75al7.75 cwt.; clover seed, 15.50a21.50 cwt. Baltimore Quotations. BALTIMORE February 14 i£*.—Clœe: wheat. No - red Winter, garlicky, epot domestic, i»:· February. i>:>. Liverpool Grain Price*. LIVERPOOL February 14 i/Pi.—Wheat futures closed steady. Prev. Close, close. March 6S'« .«RVi May .7C .72 July .75 .75 Exchange. 4.87,a. METAL MARKET. NEW YORK February 14 UPI.—Copper quiet, electrolytic, spot and future Blue Eagle. 8.(III. Tin weak: spot and nearby 4!<.87aô0.00: future. 40.5<ial:>.e0. Iron aulet. unchanged. Lead steady: spot. New York. .I,.·».·»: East St Louis. 3,40. Zinc dull: East St Louis spot and fmure. 3.70. Aluminum. 19.00»Î2.00. Antimony, spot. 14.00. PARIS BANK CHANGES. PARia February 14 UP}.—The weekly statement of the Bank of France shows the following changes in francs: Gold in creased 4.000.00ο; sight balances abroad decreased 1.000.000: bills discounted at home increased C41.ooo.ii00; bills bought abroad decreased J.Ooo.ooo advances de creased 93.000.000; circulation decreased 783.000.000; current accounts increased 866.000.000, Rate of discount. per cent. Desks We Steel Filet Table* Sell Steel Cabinet· Chair· Bur Addint MaehlnM Exrbani· Matched Offlc· Balte· OFFICE FIBNITUBK AND EQUIPMENT BAUM'S 1416 Eye St. N.W. National 2184 "We" bave funds available (or first mortfares on Home Properties at sy2% Prompt decision liven all applications. CHAS. D. SAGER 924 14th St. N.W. National 0036 FOR LEASE AS A I CAFETERIA or RESTAURANT 1716 Eye St. N.W. Just vacated after 7 successful rears as a high-class cafeteria, this property 1· immediately available and presents a unique opportunity to the right party to take over an established trade NOW. No equipment. Will redecorate to «ult tenant. See Mr. Williams. 9 A.M.—11 A.M. 3 P.M S P.M. WAGGAMAN-BRAWNER REALTY CORP. I 1700 Eye St. N.W. MEt. 3M0 DIRECTORY COMMODITY BROKER^ COTTON Member Ν. Y. Cotton Exebang· Laidlaw à Co DI. 2256 • · · GRAIN Members Chicago Board of Trgdt Harrlman Λ Keech NA. 1600 Laidlaw i Co. DI. 2255 Westhelmer L· Co Ν A. 5500 • · · RUBBER—HIDES METALS—SILK Member» Commodity Kxchant·. toe. Harrlman * Keacb ΝΑ. 1Θ00 Laidlaw * Co. DI 2256 Westhelmer ft Co NA. 6600