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Evening star. [volume] (Washington, D.C.) 1854-1972, May 12, 1936, Image 18

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RESERVE EARNINGS
RISE AT RICHMOND
Fifth District Bank Bares
$94,683 Profit During
1935 Months.
BY EDWARD C. STONE.
Gross earnings of the Federal Re
ierve Bank of Richmond in 1935
exceeded gross revenues in 1934 and
after expenses had been paid there
was left as rroflt $94,683. of which
*27,969 was transferred to surplus and
*66,714 was paid to the United States
on advances by the Treasury for in
dustrial loans made by the bank, ac
cording to the detailed annual report
Just off the press.
The twenty-'first annual statement,
received here today, states that the
bulk of the earnings in 1935 came from
Government security holdings, pro
ceeds from this source making up over
82 per cent of the total earnings.
Discounts for member banks yielded
only three-tenths of 1 per cent of the
1935 income. In 1934 receipts from
holdings of Government securities
made up 92 per cent of gross earnings,
receipts from discounts 3 per cent and
miscellaneous earnings 5 per cent.
Current expenses of the Richmond
Reserve Bank in 1935 exceeded 1934
by $206,114. The cost of making loans,
discounts and investments decreased,
but the cost of handling currency and
coin increased. General expenses for
supervision, protection, insurance and
assessment for expenses of the Board ;
of Governors of the Federal Reserve
Svstem were higher in 1935 than in
1934.
ludustrial Loans Higher.
Industrial loans for working capital
Increased materially. Applications to
taled almost $11,000,000. Loans of
$4,479,533 were approved and $2,900.
000 actually advanced during the year.
In addition, the Richmond bank stood
ready to take over $2,289,225 industrial
loans made by member banks in case
they should want the funds for other
purposes within the next five years.
The bank handled a larger number
of checks in 1935 than in any other
year since the organization of the
Federal Reserve System. Discounts
were lower in every month than in the
corresponding months of 1934.
As noted early this year, nearly all
lines of trade and industry in the fifth
district showed improvement in 1935
over 1934. It would have been a most
exceptional year had not agricultural
prices been low’er than in 1934.
Retail Kales S101.823.40C.
Retail sales in 31 department stores
totaled $101,823,406. against $94,313,
531 In 1934. Total sales of 58 whole
sale firms amounted to $54,092,012,
against $54,313,531.
There were 27,255 building permits
Issued in 31 cities, against 21,443. their
value being $52,943,883. At the same
time the value of contracts awarded
reached $203,195,274, compared with
$185,791,734 in 1934.
The number of officers and employes
at Richmond and the branches at
Baltimore and Charlotte was 732, a
decrease of 8 as compared with De
cember 31, 1934. The report is signed
by Fredric A. Delano, chairman and
Federal Reserve agent.
Brokers Ready for Parley.
W. W. Spaid, president of the As
sociated Stock Exchanges, will pre
side at the annual convention next
Monday and Tuesday in Cleveland,
when Chairman James M. Landis of
the Securities Exchange Commission,
President Charles R. Gay of the New
York Stock Exchange, Dr. Carl E.
Parry, chief of the Federal Reserve
Board's Division of Security Loans,
and David Saperstein, director of the
Trading and Exchange Division of the
Securities Commission, will be among
the chief speakers.
President Spaid will make the key
note address. The program, soon to
be announced, will cover all the most
perplexing problems facing the ex
changes, including such issues as seg
regation, manipulation, stabilizing of
securities and public relations. The
association is made up of practically
all the large and small exchanges of
the country. The Washington Stock
Exchange has been a member ever
since the organization started. The
New York Stock and Curb Exchanges
joined two years ago. The meeting
is expected to have more than usual
importance for all exchanges and
brokerage firms.
Insurance Speakers Listed.
John P. Lynch, chairman. Life In
surance Week, and Loren P. Cluster,
chairman of the District Underwrit
ers’ Association Speakers’ Committee,
announced today that the following
talks will be given here:
Dwight T. Scott, Newcomers Club;
H. Cochran Fisher, Kiwanis Club;
Morton H. Wilner, Midweek Lunch
eon Club; James A. De Force, Civitan
Club; Fred B. Linton, Junior Board
of Commerce, and Meyer Taske, Jew
ish Veterans of Foreign Wars.
Broadcasting flashes: Arthur God
frey, Columbia Broadcasting Co.;
Gordon Hittenmark, National Broad
casting Co.; “Radio Joe” Kaufman.
Bankers to Meet Tomorrow.
The monthly meeting of the Safe
Deposit Section of the District Bank
ers' Association, will be held tomor
row evening in the board room of the
American Security & Trust Co. The
program will include discussion of
vital questions pertaining to safe de
posit operations.
Sixty-two employes of the Acacia
Mutual Life Insurance Co., the larg
est class to date, are taking Life Of
fice Management Association Insti
tute examinations this week. Teach
ers who conducted the courses during
the year were Assistant Secretary
George Link and H. B. Lemon.
The National City Bank of New
York has reduced from 6 per cent
to 4 per cent the interest rate on new
personal loans of not more than 12
months' maturity, the loans ranging
from $50 to $2,000 to individuals hav
ing salaries, wages or commissions,
usually having co-signers. In the past
eight years the bank has made $243,
000,000 such loans.
Today’s Trading on Exchange.
Ten shares of Mergenthaler Linotype
atock sold down to 38 % on the Wash
ington Stock Exchange today. The
largest sale was a 100-share transfer
of Washington Railway & Electric pre
ferred at 110%. Riggs National Bank
common sold at 270. and 54 shares ol
Real Estate Mortgage & Guaranty pre
ferred came out at 4%. Washington
Gas 6s, series B, sold at 100%.
Y. E. Booker, president of the Wash
ington Stock Exchange and a member
of the Board of Governors of the In
vestment Bankers' Association, will at
tend the annual meeting of the board
at White Sulphur Springs,’ W. Va
Paul V. Keyser of this city, the asso
ciation's counsel, will also attend the
two-day session, opening there tomor
row.
Many officials and trustees in Mary
land mutual savings banks are on theii
way to Atlantic City today for the
opening tomorrow of the convention ol
the National Association of Mutual
Savings Banks.
ITRANSACTIONS ON THE NEW YORK STOCK EXCHANGE
Br Private Wire Direct to The Star.
Prev. 1038 Stock ana Sales— Net
High Low. Dividend Rate. Add 00. High. Low. Close.Chge.
13% 9% Adame Exp (a 10c)-. 2 10% 10% 10%
28 22% Address graph 60c„ 2 24% 24% 24% - H
61% 68 Air Reduction 3 59% 58% 59% + %
6% 2 Air- Wey Elec Appl. 5 3% 3% "% — %
17% 13% Alaska Jun (t60c)_ 8 14% 14 14 — %
4% 2% Alter Coro <d>- 4 3 2% 3
30% 12% Alleg pr w*30w<d)_ 6 21 20% 20%— %
29% 12% Alleg pf xw <d)...„. 1 20% 20% 20%- %
45% 27 Alleg prpf(d)- 4 32 31 32 +1
39% 30 Alleg Steel 11)- 2 31% 31% 31%
208 157 •Allied Chem »6)__ 6 188 185 188 +2%
28% 23% Allied Mills (1)_ 1 24% 24% 24%-%
9% 6% Allied Stores_ 23 8% 8 8
74% 69 Allied Stores pf(5)_ 2 70% 70% 70% — %
50% 35% Allls-Chalmers__ 5 41 40% 40% — %
28% 20% Alpha Port Cmt(l). 3 20% 20% 20%-%
125% 75 Amerada Coro i2).. 4 95 92 92 —3
63% 60 Am Ag Chm Delt3). 22 51% 50 F0% -1%
55% 42% Am Bari N >a50c) 5 42% 42% 42% + %
127 124 Am Brake Sh pf 5%. 90s 127 126% 126% - %
134% 115% Am Can It4) .. 42 13iyi 128 129 + %
41 30 Am Car ft Foundry. 7 32 30% 30% — %
73% 57% Am Car ft Fdry pf.. 2 58 58 58
58% 31 Am Chain ... 1 47V4 47% 47% +1
127 114% Am Chain pf <J5%) 2 127% 127 127
95% 87% Am Chicle (4)_ 3 89 89 89 +1%
52% 23% Am Cornel Alcohol.. 4 24 23% 23V* — %
24% 16% Am Crystal Sugar 20 22% 22% 22% + %
5 3% Am Encaus (d) new 12 4% 4% 4ye + %
9% 6% Am ft Foreign Pwr. 36 6% 6'% 6% — %
37% 25 Am & For Pw 36 pf. 2 28% 28% 28% + %
43 29% Am * For Pw 17 pf. 7 33 33 33 + %
8% 5% Am Hide* Leather. 6 6% 5% 5% - %
41% 37 Am Home Pr 12.(0). 8 40 39% 40 + %
13% 9% Am International_ 3 10% 10 10 — %
36% 23% Am Locomotive__ 2 24 24 24
95% 66 Am Locomotive pf.. 1 75 75 75 + %
15 10 Am Mach&Met alOo 1 10% 10% 10%+ %
35% 27 Am Metal ... 1 28% 28% 28%+ %
13% 7% Am Power & Light. 25 9% 9% 9% + %
52% 36% Am PAL *5 pf(l%> 7 42% 42% 42%
60% 43 Am PAL $6' of (1 % ) l 50% 50% 50% +1
27% 18% Am Radiator 34 20 19% 19% - %
34 26% Am Rolling M(l.20) 8 27 26% 26%
27 18 Am Seatlne vte _ 1 20 20 20 + %
33% 25% Am Shipbuilding 2.. 40s 29 28% 29 +1%
91% 56% Am Sm&Ref laSOc) 33 75% 73% 74',* + %
73% 67Vi Am Snuff (t3) ... 1 62 62 62
33% 20% Am Steel Foundry_ 12 24% 24 24%
36 27% Am Stores (2 >_ 1 29% 29% 29%+%
61% 48% Am Sugar (2)... __ 2 52 52 52 + %
178 149% Am Tel & Teleg 19). 15 156% 155% 155% + %
102% 87 Am Tobacco <5) — 1 92 92 92
104 88% Am Tobacco B (5).. 5 93% 92% 92% - Vi
150 136 Am Tobacco pf (6). 1 142 142 142 —1%
35 23 AmTypeFpf(d)_ 40s 24% 23% 23% — %
25% 19% Am Water Works_ 34 20% 19% 20%+ %
104% 92% Am Wat W 1st <6)_. 1 102% 102% 102% + Vi
11% 7% Am Woolen 2 7% 7% 7% — %
70% 54% Am Woolen pf (all. 2 55 55 55 —1%
2 % Am Writ Paper (d). 2 % % % - %
7% 3% Am Zinc & Lead . 4 3% 3% 3% — %
32% 26 Am Zinc & Ld pr pf. 2 26% 26% 26% + %
39*4 28 Anaconda C(a25c).. 65 33% 32% 32% — Vi
111 97% Anchor Cap pf 6%.. 30s 98% 97% 97% -1%
50 37 Archer-Dan-Mid Tl. 1 37% 37% 37%
110% 105% Armour Del pf (7)_. 2 106% 106% 106%
7% 4% Armour (Illinois).. 26 5 4% 4% — %
84 66% Arm’ri 111 lor of 16)_ 1 72% 72% 72%-%
62'% 47% Armstrong C (1 % >. 3 48% 48% 48% — %
15 7'% Arnold Constab 50c. 4 11% 10% 10%
22% 8V» Artloom Ccrp . 6 15% 15 15 — %
51% 39% Associated Oil a25c. 10s 38 38 38 — 1%
86% 59 Atch To&S Fecb2( 11 70 68% 68% -1
104% 90% Atch To&S Fe pf(5) 6 101% 100% 101% + %
35% 21% Atlantic Coast Line 2 23% 23 23 + %
35% 27% Atlantic Ref (1) .. 6 28% 28 28 -1
73 48 Atlas Powder (t2) 1 57% 57% 57%+ %
12614 112 Atlas Ponder pf (6) 10s 125% 125'- 125% + %
54% 30% Auburn Auto _ 42 31% 27% 27% —2%
10% 6% Austin Nichols_ 2 6% 6% 6% — %
7% 4% Aviation Corel Del) 5 5% 5% 5U — %
6% 3 Baldwin Loco (a i . 21 3% 3 3% + %
3% 3 Baldwin Lo asd (d). 1 2% 2% 2% - %
54% 29%. Baldwin Loco pfid) 2 33% 33% 33%-%
24% 15% Baltimore & Ohio... 13 17% 16% 17%+ %
20 14% Barnsdall (tfioc) .. 10 17% 17% 17% - %
76%- 63% Bayuk Cigars a75c.. 3 74 72% 72% -2%
26 18 Beatrice Cre(b50c). 2 21 20% 20% - %
31% 21% Bendlx AvtatlonU). 44 27% 26% 27 + %
24% 20 Beneficial Loin %) 13 21% 20% 20% - %
63% 45% Bethlehem Steel ... 76 49% 48 48%-%
20% 14*4 Blaw-Knox (a'.’Oc).. 5 16% 16 16 — %
26% 16% Boeing Airplane .. 3 17% 17% 17%
63% 46% Bohn Alum & Br(3) 2 48% 48 48 -%
100% 93% Bon Ami A (4)_ 10s 96% 90%. 96% — %
45 39% Bon Ami B HZ)_ 10s 40% 40% 40%
30% 25% Borden Co tl 60)_ 13 27% 26% 27 - %
83% 64 Borg-Warner (3)_ 8 69% 69 69 + %
11% 6 Boston Maine .. 1 6% 6% 6*. -e %
18% 13'% Brldgep t Brass 40c 7 14% 13% 13% — %
64% 43Vi Briggs Mfg It2) 13 46 45% 46 + %
48% 41 Bristol-Myers 412)_- 2 43% 42% 42% -1
50% 40% Bklyn-Man Tr (31.. . 2 46 45% 45% — Vi
104 97% Bklyn-Man T pf(6). 2 102 102 102 + %
56% 44% Bklvn Un Gas (3)_ 1 45 45 45 + %
13 8V* Brunswick-Falke... 3 8'J 8'j 8!j - Vs
i4'<1 o't» hsucyrus-c-rie __ ^ 10 — r»
15"« 9% Budd (EG) Mf* 29 15 14% 14%
34 24 Budd Alf lpd.JulylS 1 34 34 34 +4
14 84 Budd Wheel_ 7 94 9% 9",+ %
314 20’. Bullard Co _ 1 234 234 234 — 4
284 114 Bulova Watch_ 1 244 244 244 + %
334 25 Burr Ad McH(t60c). 2 254 254 254 — 4
6", 24 Butte Copper&7.in0- 4 44 44 44
254 164 Bvers (AMI _ 2 17 164 17
74 57 Byers (A M) pf_- 90s 56 4 564 564 — 24
374 304 California PKgfl 4) 1 314 314 314 +4
14 4 Callahan 7.1 nc ..11 1 1
14 6 Calumet&Hec a25o_ 9 11 104 104 — 4
404 30 Campbell Wy (+ 1)_ 2 304 304 304 -1
164 10% Canada Dry G A_ 4 104 104 104 — ’«
16 10T, Canadian Pacific- £0 124 12 12 — 4
434 37 Cannon Mills «2)—. 2 36'/» 37". 374 + V*
524 454 Cap Adm pf A «3)_20s 60 494 50
94 7 Carriers & Gen 20c. 2 74 7 7
1724 924 Case (J 1» Co - 10 1494 146 146 -1
142 116 Case (J llCo Pf <71. 10s 136 136 136 —1
79 544 Caterpillar Trac(2) 7 71", 70 714+24
324 21% Celanese CorD a50c. 12 234 224 224 — 4
354 25", Cent Astaire < 11 4 >- 1 27 27 27 — ",
■ 107 974 Century R M ofi7>. COs 102 102 102 +44
58 474 Cerro de Pasco (4).. 11 544 534 54 — 4
994 804 Certain teed Pr pf 603 89 89 89
1044 101 Champion Pa pf (6) 100s 1014 101". 1014 — 4
61 51 Ches & Ohio <2 80i 17 554 554 554
744 59 Chesa peake Corpi 3) 2 64 64 64 +1
12 7 Chi Ind&Bou pf (d). 20s 6 6 6 -2
2% 14 Cbl MU StP*P «d>. 1 14 14 14 + 4
54 24 Ch1 M StPAP pf (d) 3 34 34 34
44 24Chl*NW<d) _ 5 3 3 3
204 124 Chi Pneumatic Tool 2 124 124 124 — 4
56 404 Chi Pneu Tool pf... 2 434 43’% 434 - 4
3 14 Chi R I & Pac <d)_ 5 14 14 14-4
8 34 Cbl R l&P 1 % pf<d) 1 34 34 34 -4
30’* 234 Chlckasha C O <2>_. 1 24 24 24 + 4
11% 7 Childs Co __ 2 74 74 74 +4
103% 854 Chrysler Corp (6)— 138 93% 914 914-1
194 15V* City ice & fuel (2>. 2 17V* 174 174
864 724 City Ice&K pf 164) 10s 81 81 81 -14
74 44 City Stores _ 3 64 6 6 —4
46 4 234 Clark Eaulp 180c).. S 33 324 324 + >,
1104 107V* Clev El Ulu pf(44) 1 1084 1084 1084 + 4
46 35 Clev Graph Br ttl). 1 354 354 354 -1
704 48 Cluett Peabody (1). 1 51 51 51
97’* 84 Coca-Cola (21 — 1 874 874 874
204 154 Coleafe-P-P <B0c).. 12 154 154 154 -4
514 394 Collins & Aik <2)- 5 424 424 424 -4
112 107V* Collins & Aik pt 17) 60s 111 1104 1104 — Vi
244 84 Colonial Beacon ... 30s 184 184 18Vi -1
94 34 Colo Fuel & Ir id).. 5 54 54 54 -4
49 24 Colo F & I pf Id)... 50s 264 264 264 -4
364 21Vi Colo & South ... 230s 344 32V* 33 -1
374 194 Colo * South 1st pf 90s 29 284 29
214 14 Columb G&B(a20c) 77 17 164 164 - Vi
102 . 904 Col G& Ept A (6) 1 100 100 100 -14
134 94 CoiumCarb vtc<t4) 5 115 1144 1144 +24
58% 44 Cornel Credit 12%). 24 57% 66% 66%+%
115 110 Cornel Cred of 16%) 1112 112 112
82% 55 Cornel Inv Tr t3.60. 36 79% 79 79% + %
115% 110% Cornel 1 T ev pt <6». 1113 113 113 +%
110% 97 Cornel In T pf (4%). 1 108 108 108 -1
24% 17 Cornel Solv i6»ci .. 18 17% 17% 17%
5% 2'i Comw & Southern.. 87 2% 2% 2% — %
82 59% Coraw & Sou of «3>_ 3 60 60 60 -%
44% 34 Congoleum-N 1.60.. 4 35% 34% 35% + %
20 . 10 Conn R & L. _ 10s 10 10 10
33% 19% Conn R & L of- 10s 20% 20% 20%
13% 8% Consol Clear ... 2 8% 8% 8% - %
85 72% Con C nr of ww 6%. 10s 77 77 77 +1
4% 3% Cons Coal (Del) vte 1 3% 3% 3%
20% 20% Con C'l (Del) vte pf.» 1 18 18 18 -2%
38% 27% Consol Edls N Y(l) 17 29 28% 28%+%
108% 102 Consol Ed NY pf(5> 7 105% 105% 105%
7% 4% Consol Film _. 11 5% 4% 5% + %
20% 15% Con Film pf U50c)_ 8 17% 16% 17 +1
6% 3% Consol Laundries— 1 4% 4% 4%
15V* 11% Consol Oil (a25e)_ 37 12% 11% 11%—%
11% 6% Consol R R Cuba pf. 3 7% 7 7% — %
1% % Consol Textile (d)_ 24 % % %
26% 17 Container Corp_ 13 17% 17% 17% - %
19% 10% Conti Baking (A)._ 4 13% 13 13 + %
2% 1% Conti Baking (B)-„ 7 1% 1% 1%
77% 67% Conti Baking pf (4) 3 71 71 71
87V* 67% Conti Can (3) ex rts 39 72% 70% 71 + %
27 32 15 32 Cont Can rts.May 25 521 25 32 21 32 23 32
24% 18 Cont’l Dla F (a50c). 7 18% 18% 18%
f 46 35% Conti Insur (tl.20). 2 38 38 38
4 2% Conti Motors_ 10 2% 2% 2% - %
! 38% 29% Conti Oil of Del(l) 13 31% 31% 31%
46 29% Conti Steel Corp(2). 3 30% 30 30
69 55% Corn Ex Bk&Tr (3). 10s 59 59 69 -1
| 78% 68% Corn Prod Ret <*)_. 9 74% 74 74
7% 4% Cotv Inc - 4 4% 4% 4% + %
37% 35 Cream of Wh (2) 1 35 35 35
27V* 15% Crosley Rad (b25c). 4 25% 25 25% + %
1 63% 43% Crown C a S (11 3 52% 52% 52% + %
47% 45% Crown C&S pf (2.70) 1 46% 46% 46%
. 10% 7% Crown fcelleb’k vte 7 8% 8 8
, 115 95% Crucible Stl pf (al) 1 102 102 102 +2
2% 1% Cuba Co _ 1 1% 1% 1%
' 18% 10% Cuba R R pf.- 40s 11% 11% 11% + V*
14V* 6% Cuban-Am Sugar... 18 11 10% 10% — V*
102 63% Cuban Am Sug pf.. 120s 96% 96 96%-%
: 44% 37% Cudahy Pkg (2%).. 2 37% 37% 37%-%
• 24% 18 Curtia Publishing— 2 18% 18 18
t 104 99% Curtis Pub pt 17»_ 3 103% 103% 103% - %
[ 9% 4 Curtiss Wrlkbt_— 48 6% 6 6% + %
21% 10% Curtiss Wright A.— 19 15 14 14H + »
Prev. 1930 Stock and Sale*— Net
Sigh. Low. Dividend Rate. Add 00. Hlih. Low. Close.Cbee. F
8914 52 Deere ft Co_ 11 75% 73 73 -1
26 19% Deisel-Wem-G t50o. 8 23% 22% 23
62 36% Delaware ft Hudson 3 3814 37% 37%-1
23% 14% Del Lack ft West... 6 15% 15 15 - Vi
9% 4% Den&RloGW Dt <d). 1 5% 5*4 6% — %
153 128% Detroit Edison <«>_. 4 128 128 128 -6%
60 60 Det & Hillsdale (4). 10s 65 65 65 +5
40% 33% Diamond Mtch 11% 2 34% 34 34
34% 18% Dlst Corp Sesg Ltd. 43 22% 21% 22% + V4
56% 41% Dome Mines 6 54 53% 53%-1
11% 7% Dominion Stores 1 8% 8% 8% — %
75% 50% Douglass Air 19 55% 54% 54% + %
153 133 Du Pont de N 8.60.. 13 139% 137% 137% - %
9% 6% Eastern Roll Mills.. 1 6% 6% 6% - %
170% 156 Eastman Kod tt5).. 7 163% 163 163 — Vi
166 158 Eastman Kod pf (6) 30s 163% 163% 163% + Vi
37 28% Eaton Mfg 12)_ 4 31% 31% 31%-%
44% 30% Elee Auto E 11.2011 33% 33% 33% + Vi
114 110% Elec Auto L pf 47).. 10s 111% 111% 111% - %
17% 10 Electric Boat_ 7 10% 10% 10% — %
7% 5% Elec&Mus ln(b24c). 2 6% 6% 614 - V*
16% 6% Elee Pw ft Lt _ 65 13% 13% 13%
64% 29% Dleo Pw ft Et 86 pf_ 5 51 50% 50% -114
69% 32% Elee Pw ft Et 87 pf. 3 66% 55% 65%
69 62% Endlcott-John (3)_. 2 64 64 64 +1
134 125% Endlcott-J pt (7)_ 10s 125% 125% 125% - %
7% 5% Eqult Office Bldg 4 6% 6 6V4 — %
27% 16 Erie H R 1st pi_ 2 17% 17% 17% + %
19 11% Esle R R 2d pt_ 1 12 12 12
15% 12 Eureka Vac C(80c). 2 13% 13% 13%-%
40% 29 Evans Products tl) 11 31% 30% 39% + V4
5% 2% Fairbanks Co__2160s 3% 3% 3Vi — V*
18% 8% Fairbanks Co pf_1510s 15% 13% 13% + %
63% 34% Fairbanks Morse .. 9 46% 46 4614 +1%
41% 31% Fajardo Sugar (2).. 1 37% 37% 37% + %
25 18% Federal El ft Trac.. 1 19% 19% 19V. — Vj
97 84 Fed Lt ft Tr pf (6).. 20s 91% 91% 91%
92 40% Fed Mtn ft Smelter.. 1 47 47 47 +1
12% 7% Fed Motor TtalOc). 2 9 9 9 — H
49% 38 Fid Phoe F 1411.20». 1 39% 39% 39%-%
33% 24% Firestone T&R 1.20. 4 28% 28% 28%+%
48% 40 Virst Nat Strs(2%). 2 43% 43 43%-%
11% 414 Follansbee Bros td) 2 7% 7% 7% — Vi
38% 24% Foster-Wheeler- 4 26% 25% 25% — %
35% 28Vj Freeport-Texas 41) 4 29% 29% 29%
75 47*4 Fuller Co pr pf_ 30s 66 66 66 — %
53% 31% Fuller Co 2d Df_ 40s 38% 37% 38 +1
6% 3% Gabriel Co (A I- 2 4*. 4% 4''.+ Vi
13‘, n uen Am investors . a » •’
63 42% Gen Am Transit**) 6 44% 44% 44% + V.
34% 22 Gen Asphalt(h25c). 5 24% 24% 24% + %
14% 10% Gen Raking (60c)_ 4 11% 11% 11%
15% 5% Gen Cable _ 1 9% 9% 9%
58% 53% Gen Cigar (t4)_ 1 55 55 55 -2
145 140 Gen Cigar pf (7)_40s 145% 145*4 145% + H
41% 34% Gen Blectrto (1)- 76 36*. 35% 35% — %
39% 33% Gen Foods (18038 38% 37% 38 -%
4% Tii Gen Gas & El (A)_ 4 2 1% 1%
70'a 59% Gen Mills (3> 1 62% 62*3 62%
120% 117% Gen Mills of (6)_ 40s 119 118% 118% + %
71 53% Gen Motors <tZ).._ 310 64 63% 63%
8% 5% Gen Outdoor AdT_ 2 7% 7 7% + %
33% 18% Gen Outdoor Adv A. 1 31 31 31 + %
50 38 Gen Print Ink 12) . 1 47% 47% 47*4+2
108 105 Gen Print Ink pf(6) 10s 107 107 107 —1
6% 3% Gen Public Service. 2 3*4 3% 3% — V*
3% 2 Gen Realty & Util.. 8 2% 2% 2%
44% 38% Gen Refrac (b50c).. 3 35% 35% 35%-%
18% 15', Gillette Saf Ka*(l). 7 15% 15% 15%+%
11% 6% Glmtiel Bros _ 4 8% 8% 8% - %
55% 44% Glldden Co (2)_ 4 47 47 47 -%
114% 105% Glldden Co pr pf(7). 70s 106% 106% 106% + %
7% 3% Gobet (Adolf)_ 4 5 4% 5
10% 7 Goebel Brw C(t20c) 16 8%. 8% 8%
21% 15% Gold Duet (1.20)_ 8 15% 15% 15%
23% 13% Goodrich (B F)_ 13 19% 19 19
31% 21% Goodyear T&R_ 19 24% 23% 24 +%
99% 87 Goodyear 87 pf <4)_ 5 93 92*. 93 + %
4% 2% Graham-Palge - 14 2% 2% 2%
11*» 3 Granby Coni tstpd). 1 3’. 3% 3%
6% 3% Grand Union ctfs .. 4 3% 3% 3% — %
35% 25 Gj-amte City Stl (1 > 1 26% 26% 26%-%
33% 28% Grant IW T» (1.40). 5 30', 30*. 30% + %
44 32% Grt Northern pt _ 30 35% 34% 34'.
3 1% Grt Nor Ky .June 1 107 2 1% 1% — %
20% 16 Grt North'n Orel 1) 19 17% 16% 17 — %
39 31 Grt West Sug <2 401 5 35 34% 34% — % j
144% 136 Grt West Sug pf(7> 20s 145% 145% 145% +1% j
28*. 22 Green* HLlCo <tl). 1 22% 22% 22% - %
80% 48% Greyhound Corn 13 50% 48% 48% — %
3% 1% Guantanamo Sugar. 4 2% 2% 2% + %
48 28% Gulf States Steel... 1 35 35 35 -5%
36% 35 Hack W pf All % >.. 20s 36 36 36
11% 6 Hall W ft Printing.. 2 8% 8% 8%
21% 14 Hamilton Watch . 1 15 15 15 + »<
119 110 Hamilton W pf (5). 40s 110 109% 110 -1
41% 30tf* Harblson VValK(tl) 2 34% 34% 34% — %
16**, 12 Hat Corp of Amt A). 2 15 15 15 -%
9 4*. Haves Body _ 3 5S 5S 5% + H
35% 25*-, Hercules Motor (1). 1 26 26 26
80 75% Hershey Choc iS)._ 1 74 74 74 —2
44% 30*. Holland Furnace... 3 30s. 30% 30%
35', 19% Hoilv Sugar (1)_ 99 35% 34 35T. +1%
33 22% Houd-Hers (B)l%.. 7 23 22% 22%-%
12% 6% Houston Oil vtc ... 8 8% 8*. 8% — %:
57% 48% Howe Sound It3l _. 2 51% 51% 51%
19% 13% Hudson Motor Car.. 8 15 14% 14% + % |
3!t 1 Hupp Motors- 88 3 2\ 211. - %
28% 18*. Illinois Central_ 8 19'. 19% 19%-%
70 58 111 Cent Ise ItnesM) 60s 61% 61% 61',
34% 26% Indus Rayon (1.6*t. 1 27% 27% 27%-%
147 108 lngersoll-Kand(t2). 2 106% 106 106% -2%
114% 9f% Inland Steel *3)_ 3 91 90% 90%—%
13** 6‘s* Inspiration Copper. 4 10'- 10U 10**
Ion 11'j WIICI UUMI ft • ft ft — ft ft- ft ft- a
5% 2% Intercom! Rubber.. 5 2% 2% 2% — %
15% 9% lnt*rlake Iron_ 5 ION 10'. ION + N
5% 3% Int Agricultural —. 2 3N 3% 3N — %
185% 160 Int Bus Mach (t6)_. 1 162 162 162 -3
49% 35% Int Cement (1 % )—. 1 44% 44% 44% + %
89% 56'. Int Harvester 1.20.. 40 81N 80% 81% + %
5% 2% Int Hydro Klee <A). 4 3 3 3
8 4% Int Merch Marine 2 4% 4% 4% — %
54% 43% Int Nickel(Can)1.20 33 45% 44% 44%
3’. IN Int Paper A rwiCI. X IN IN IN —
36% 20% int Paper* Pw pf.. 14 23 22% 22%-%
111 107 Int Print Ink pf<6). 20s 107% 107% 107% + %
8% 3% Int Rv Cent Amer_160s 6% 6N 6'.
36'. 19% Int Ky C A Dt_310s 33% 32 33 +1
53% 47% Int Shoe It2)_ 4 48 47% 47% - %
23% 15 Int Sliver._..... 1 16 16 16 + ’a
67 52% Int Silver of—-_ 40s 53% 53 53 — 1.
19% 12% Int Tel A Tel_ 34 13% 12N 13
129 88 Johns-Manv1l!e(2>. 3 91', 91% 91%—%
90% 77% Jones*Laush7%pf 150s 79% 79 79 — %
26 13 Kans City Southern 10 19"» 18% 19% +1
39 19% Kans Cltv South pt 2 31 31 31
33% 27% lvavsert J )A Co a75o 2 27% 27% 27% — %
25N 14% Kelvinator <4500. * 8 19N 19% 19%
41N 28% Kennecott (11_ 47 36% 35% 35%
97% 73 Keystone Steal (4). 1 75 75 75 — %
43 30 Klnnev (G R> pf_ 10s 30% 30% 30% — %
25% 20% Kresge <S S) (1) ... 3 21% 21% 21% + %
28 22N Kroger G*B U 60>_ 3 22% 22N 22N - %
26% 19% Rambert Co (2) ... 1 20% 20% 20%
16'% 12% Lee Ruh&Tlre (60c) 6 12% 12% 12% - N
102% 94% Lehigh For C pf (4). 10s 95 95 95 —2
4 2% Lehigh Valley Coal. 1 2% 2% 2%
14% 8% Lehleh Valley R R. 3 9 9 9
15% 12 Lehn & Fink (1%).. 5 15% 15% 15%
46% 37% Lerner Stores (2)—. 3 40% 40 40% + %
11% 7% dht>v McNeill A L 10 7% 7% 7% — %
63% 47% Libbey-Owens G(2) 11 Si 50N 50N — %
31% 25 Life Saver (1.60)_ 1 25 25 25 - %
115 97 Llgg & Myers (t4)_ 1 106 106 106 +2%
116% 97% LtggAMvers 8(44). 2 105% 105% 105% — %
23V. 19 Lilv Tulip Cup< 1 %) l 20% 20% 20% — N
50% 37% Link Belt (1201 .. 13 38 37 37%-%
44% 34 Liquid Carb < 1 60).. 3 35% 35 35% + %
54% 43 Loew’s Inc (42)_ 9 46N 46 46
3% 2 Loft tnc_ 1 2N 2% 2N — %
8N 3% Long Bell Lum (A). 1 5N 5N 5N + %
26% 21% Lorillard (PHI.20) 1 22% 22% 22% + %
151 142 Lori lard P pf (7) 60s 147 146% 146% - %
32% 13 La OU Ret of (d)„. 430* 32% 30% 30%-%
24V* 20 Loulsv GAEpfA 1H 1 20% 20% 20%+ %
77% 57% Louis* Nash <a2>. 2 62 62 62 - %
35 22% Ludlum Stael(a56c) 5 25 24% 27% — %
An *57 **..*./< e. Pnr <7v 1 3RU 3BU 9BP. — 41
13% 12% McCrory Stores_. 9 12% 12% 12%
49% 39% McIntyre Porcu(2). 5 43 42% 42% + %
118% 103% McKeesp’t T P <t4). 2 107% 107 107% +1%
11% 8% McKesson & Kob 1 8% 8% 8%
48 37% McKesson&K pf(3). 5 41% 41% 41% - %
15% 11% McJLellan Stores._ 2 12% 12% 12%-%
37 27% Mack Truck (1)_ 4 29% 28% 29
49% 40% Macv (R H) Co (2). 15 41% 40% 40%-%
14% 8% Madison Sq G t60c.. 2 13 12% 13 — %
42 34% Magma Copper (2>_ 1 37% 37% 37% + %
23V* 14V* Man El md std <d)_ 5 15% 15% 15% — V*
23 17% Manhat Shirt <60c). 1 17% 17% 17% — %
10% 8% Marine Mtdld (40c). 9 8% 8% 8% — %
3% 1% Market St Ry_ 20s 1% 1% 1%
30% 18% Market St Ry pr pf. 40s 21% 21% 21%. -1%
50% 41 Marlin-Rock (t2)... 1 43% 43% 43% +2%
19% 11% Marshall Field * Co 5 15% 15 15%+%
36% 27% Maihleson Aik 1%.. 2 29% 29% 29V* + %
53% 43% May Dept Strs (2).. 1 45% 45% 45V* — %
21% 13% Maytag Co__ 2 16% 16V* 16%
110 103 Maytag 1st pf <6)._ 80s 109% 109% 109% — %
50% 40% Mesta Machine (2). 1 44% 44% 44%
12V* 5% Miami Copper- 2 9 9 9
23 17% Mid-Cont Pete a40o 17 19% 19% 19V* - %
47% 21% MidVd Stl Prod tli 6 36 35% 36 + %
131% 110 Mid Stl 1st pf (#) _ 40a 127% 127% 127% — %
75 65 Minn-Honey Rtl%. 6 70 69% 70 +%
109% 107% Minn-Hon R pf (6). 10s 107% 107% 107% - %
12% 6% Minn Moline Pwr_ 6 9 8% 9 + %
5% 2% M St P&S S M pf_ 1 3% S% 3%
26V* 17% Mission Corp__ 3 19 18% 18% — %
9% 5% Mo Kans & Texas._ 2 7% 7% 7%
26% 14% Mo Kans dfc Tex pf._ 4 19% 18% 19%+ %
7% 3% Mo Pacino pf id)... 3 4% 4% 4% - %
103 83% Monsanto Chem(tl) 11 87 85% 86% +1%
45% 35% Montg*y Ward a20o. 66 40% 39% 39%+%
71 60% Morris&Essexl3%). 10s 67 67 67 — %
1% % Mother Code _ 66 1% 1 1
37% 28% Motor Products (2). 3 30 29% 29% - %
22% 15% Motor Wheel (1)- 3 19% 19 19 + %
22% 14 Murray t'orp ... 9 15% 15% 15% — %
59% 44 Murphy (GC) Co... 1 45% 45% 45%-1%
21% 16% Nash Motors <1> — 7 17% 17 17
17% 12% Nat Acme Co - 2 13 13 13 - %
38% 31% Nat Biscuit (1.60).. 10 34 33% 33%—%
30 21% Nat Cash Keg(6«c). 16 23% 22% 23% + S
25V4 21 Nat Dairy P (1.20). 26 23V* 22% 23%+%
111 107% Nat Dairy P pfB(7). 10s 110 110 110 +2
33% 27% Nat Distillers t2)_ 15 29% 29% 29%
305 204 Nat Dead (6)_ 3 260 258% 260 +2
i 14% 9% Nat PwrdtLt(«0o)-_ 3 10 9% 10 + %
Prev. 1938 Stock and Bales— Net
High. Lo v. Dividend Rate. Add 00. High. Low. Close.Chge. I
1% % Nat Ry Mex 2d pf-. 1 % Vi Vi — Vi
75 67% Natl Steel <1H >- 7 60% 60 60 — %
108 74% Nat Supply Co pf— 4 95% 94 94% + %
11% 8% Nat Tea (60c»- 3 8% 8% 8% — %
13% 11V* Natomas (tgUe)- 9 11% 11% 11% — %
13% 9 Newport Industries 7 9% 9% 9% — Vi
42 32% N Y Atrbrako-— .1 36 36 36 + %
42% 27% N y Central R R- 59 33% 32% 32%
6% 4 NY Dock- 20a 4 4 4
2% 1 NY Investor* (4)— 1 1 *4 l1/* 1W
5% 3 NYNHAH(d)- 12 3% 3% 3% - %
14% 7% NY NH & H pf <d)„ 4 8% 8 8% + %
7% 4% N Y Ontario & West 1 4% 4% 4% + %
6% 2% N Y Rya pt Id)- 13 3 3
15% 9% N Y Shipbuilding... 3 10 9% 9% — %
107 93% N V Steam 1st <7 » — 10a 101% 101% 101% +1%
108% 106 Norfolk&Wn pf (4). 120s 106 105 105 -1%
10% 6% North Am Aviation. 44 8% 7% 8
32Vi 23% North Am Co 111 — 10 24% 24 24 — %
56 52% North Am Co pf 13). 3 55 55 65
36% 24% Northern Pacific 49 27% 26% 26% %
4% 2 Norwalk Tlre&Rub. I 2% 2% 2% + %
17% 12% Ohio 011 <300 _ 43 13% 13% 13%+%
64% 24% Oliver Farm Equip. 4 47% 47% 47% — %
25% 17% Omnlbua Corp vtc— 5 18% 18% 18%—%
32% 24% Otis Elevator (60c). 12 25% 25% 25% + Vi
20% 13 Otis St£el_ 6 14% 13% 14%
95% 87 Otis Steel pr pf- 1 73 73 73 -14
53 47 Outlet Co 1t2>_ 50k 50 50 50
164 128 Owens-Ill ClaaalS). 2 139 139 139 +1
17% 14 Pac Am Flsn(a25c). 1 16*4 15% 15%+ %
9% 4Vi Pacific Coast gd_ 20s 6% 6% 6%
89% 30% Pacific U& E (1%). 2 33% 33% 33% + Vi
56% 47% Pacific L.tg (2.40)— 2 48% 48% 48% + %
18 11% Pae West O (b2Sc)_. 2 13% 13% 13%-%
13 6% Packard (aide)_ 64 9% 9% 9% - %
74% 18'i Panhandle P&R of. 10b 64% 64% 64%.— V*
12 7% Paramount Picturei 17 9% 8% 8% — Vi
R7*; 60Vi Paramount 1st Df__ 2 71 70 70 — %
12** 8** Paramount 2d pf — 3 9'* 9*« 9** — Vi
SV* 3*. Park Utafc _ 7 3»* 3!, 3*. + Vi
28'i 23 Parker Rust P(1 ',x )■ 3 24', 24'. 24', -r
UTi 7*i Pathe Film Corp 10 8V« 8S 85* + Vi
73 649, Penlek & Ford (3).. 1 67'* 67'/* 67V* -1
79 69 Penney (J Cl (t3).. 1 73V, 73', 73', -1**
10V, 4', Penn Dixie Cement. 2 6»* 6', 6*. + Vi
39 28'i Penn Railroad tal). 15 30 29', 29',
49', 38 Peoples Uas Chi_ 1 38*i 38** 38**+ **
35** 25'-* Pere Marauette_ 1 26', 26', 26',+1V4
88 64', Pere Mam pr pf _ 2 75V, 72!-, 75', +3
18 12*« PctC'p of Am a25c. 4 13 13 13
19'i 14', Pfeiffer Brewll 20). 21 14*i 14 14'i
40'« 255* Phelps Dodtte a50c— 5 33 32', 33 + u,
167, 8'* Phlla Hap Tr ptld). 20s 11', 11 11 — 'i
3", 2 Phlla & Head CA1— 2 2!» 2 2',+ >. j
87'* r.6 Phillip Morris (115 86 85 85 — Vi!
88 77', Phlllips-Jns pt(7).. 50s 75'* 75 75 — 2V,
49** 38'* Phillips Petrol(tl). 25 41', 41 41',
84 72 Phoenix H pf (3%). 20s 80 80 80 -2
17 8 Pierce Oil pf _ 7 12 '* 12s* 12**+ '»
2'i Hi Pierce Petroleum_ 3 2 IV* 2 + V*
37V* 32** Pllsbury FI (1.60).. 2 32 32 32 — ** '
85', 49 Pitts Steel pf .. 30s 67 65', 65', —1 j
3 H» Pitts Term (new) _ 2 Hi Is* 1s* + !
21 16 Pitts Term Coal pf— 20s 15V* 15", 15:. Vi |
9', 8 Pitts United Corp_ 2 7', 7', 7',
91V* 58V* Pitts United pf_ 70s 70'* 70', 70'. +
41V* 21 Pitts* W Va_ 40s 30', 30-* 30'* - **
16’, ll7i Plymouth Oil-- 12 14'* 13', 14 + 5,
5* 2>, Pressed Stl Car (d). 10 2*. 2s* 2*i -r '*
36 18 Pressed Stl C pf(d). 1 207* 207, 20', -r
49 40'* Proctor&Uamil ). 7 40s* 40 '* 40',— >,
48*» 39 Pub Svc N J 12.40»_ 2 39', 39'. 39'*+ >.
107'-* 103’, Pub Svc N J of (5)_ 1 10fi*, 106 , 106** —
119T» 113'., Pub Svc N J pf (6).. 4 118s, 118'* 118'* -
48', 367, Pullman Inc <lV4)-. 25 43', 42s, 42s. + s.
24’, 16s, PureUll - _ 118 19s, 18’* 19 + !,
118 91V* Pure Oil 6% pf- 5 92'® 92 92
133s* 103 Pure (01 pf 160s 106 103', 106 +1
17*i 9s. Purity Bakeries 40c 10 9T« 9** 9:,
14'* 9** KadioCorp . 117 10 9** 9** — Vi
73'* 68', Radlocu 1st pf 3 Vi. 20 70', 70'* 70 s, + i*
9', 5 IladioKeuh-Or(d) 6 O', 57* 6
18'* IP, R H Sec 11 Cent 400s 11 11 11 -1
38', 287, Hsvbestos-M (154). 1 31'i 3H, 31'i —
48s, 35', Heading (2> 2 39 39 39
16", 97. Real Silk Hosiery— 2 12', 12', 12',+ ’«
3*, H, Rels(Robt) _ 1 2 2 2 -r '•»
I 23", 19', Rem Rand (t60c)-_. 15 2H, 207, 2Hi
! 24s* 22*» Kem-Hno 6% pf I >4. O 23V* 23 28V, + V*
99s, 85', Item-Hand pf (6)_ 8 98 97 98 + Vi
8', 4T« Reo Motor Car_ 10 5‘, 55* 5s.
26*4 167. Republic Steel_ It 18‘, 18', 18'*+',
99 75 Republic Steel pf._. 2 80 80 80 +1
34 24i* Reynolds Met til . 2 2 6 25*, 255*— Vi
117 105 Reynolds M pf(5%) 1 109 109 109
55V, 27 Reynolds Spring < 1) 2 41 43', 43',—
58s. 50 Reynolds Tob B 13) 15 52*, 52', 52*,*- s.
575, 48** Royal D D1.70 l-10c. 3 57'* 57 57'., + s,
- . #y,. __o. n « O ■) I *>f) 4 Ofl
I)U | IJV uiuivw ia/a m " * » - •
29% 22% St Joseph Ed (40c)_ 2 22% 22% 22% - %
3% 1% St E-San Fran <d>_. 2 2% 2% 2% -r %
6% 2% St E-San Fr Df (d>_ 1 3% 3% 3%
52 38% Schenley Distillers. 28 44 43% 43%
I 101% 97% Schenley D pr (5V4> 1 99% 99% 99%.-%
4% 2% Schulte Ketall Strs. 1 2% 2% 2%
76 63% Scott Paper (1.80).. 20s 68% 68% 68%
I 1% % Seaboard Air E id). 1 % % %— %
4% 2 Seaboard A L pf(d) 2 2'« 2% 2'«
43% 32% Seab'd Oil(Bel) (1). 5 34% 33% 33%
i 69% 59% Sears Roebuck «2)_ 25 65% 64% 64% -t* %
i 73 62 Sec N lnv pf XI 65.. 70s 62 62 62
22% 15% Servel Inc (600- 8 19% 19% 19%
32 20% Sharon Steel Hoop 4 23% 23 23 4* %
Sharon Stl J3 cv pf. 1 94 94 94
8*, 4% Sharp & Dorime 2 6% 6% 6%
50%. 43 • Sharp & D pt (3 % )_ 2 49%. 49%. 49% 4-1%
16% ll%Shattuck f G (5uc). 1 13*, 13% 13% — %
19% 14*i Shell Union OH- 51 17% 17%. 17%
120 110% Shell Union Oil pf._ 1 116 116 116 — %
14% 9% Silver King (40c)— 1 10% 10% 10%
i 32% 19% Simmons Co__ 22 25% 25 25 + %
6% 4% Simms Petrol__ 6 5% 5 5 — %
31 Vs 19% Skellv OH_ 4 23 23 23 + %
95 65% Sloss-Shef Stl pf- 50s 88 88 88
72 42 Smitn (AO) - 4 45 44% 44% + %
28% 22%. Snider Packing_ 1 21% 24% 24%
i 17 12% Socony-V 011 (40c). 23 13 12% 12%
7% 4% So Am Gold & P 30c 23 5 4% 4% - %
34% 26 So Porto H Sug CD. 8 27 26% 27 + %
, 28% 25 South Cal Ed (1 Vi). 5 25% 25% 25% — %
r 38% 23% Southern Pacific ._ 44 30% 29% 30 4- %
20% 12'% Southern Railway.. 2 14 14 14 4- V*
32% 19 Southern Hy pi _ 6 22% 21% 21% — %
, 109% 101% Spang Chal pi (6).. 100s 105 105 105 —2
, 9% 5% Sparks- VV ithington, 4 6% 6% 6% 4- %
36% 29% Spencer Kell <1 60). 2 30% 30% 30% — %
23% 15% Sperry V&C lb25c). 20 16% 16% 16% 4- %
77% 63 Splegel-May-S (3)__ 4 68 67% 67% —1%
18 14% Stand Brands(80c)_ 17 15% 15% 15% — %
13% 10 Stand Com Tobacco 5 10 10 10
9% 5% Stand Gas & El id). 2 5% 5*. 5% 4- %
Prev. 1938 Stock ana Sales— Set
[lgh. Low Dividend Rate. Add 00. High. Low. Close.Chge.
17% 9'% Stand U*E >4 pf (d> 1 11 11 11
39V. 26% Stand G&E *7 pf(d) 2 27% 27% 27% + %
3% 2 Stand Inv Corp_ 6 3% 3% 3V«
47% 37 Stand Oof Cal <tl). 24 38% 38 38 -%
113% 111% Stand Oil Exp pf<5> 6 112% 112% 112%
40% 32% Stand Oil of Ind(tl) 23 35% 35 35
70 61% Stand Oil of N Jit 1 61 60 59% 59%+%
33% 24% Starrett (LSI 1.40_. 1 25% 25% 25%
71% 65 Sterling Prod (S.80) 4 69 68% 69 + V*
4% 2'j Sterling Secur (A). 1 21i 2% 2%
12% 8% Sterling Secur pf . 1 ,8% 8% 8% + %
53% 49 Sterl Sec 1st pf (J6) 1 48% 48% .48% —1%
24% 16% Stewart VVarnt5t)cj 6 18 17% 17%,
21% 14% Stone & Webster_ 20 16% 15% 15%'- %
14% 9% Studebaker Corp_ 25 11% 11 11 — %
124 118 Sun Oil Dt <61 60* 121 120 120 -1
6% 3 Superior Oil___ 11 4% 4% 4% + %
25 20% Swift* Co (1)_ 6 21% 21% 21%+%
9% 6% Telautograph(60c)_ 5 7 6% 6%
10% 6% Tennessee Corp__ 5 7 6% 6% — %
39% 28% Texas Corp (1)- 25 33% 32% 33% + %
38% 33 Texas Gulf Sul (2)_ 5 35% 35% 35% + %
42 28 Texas* Pac RR 2 36% 35 36%+1%
15% 7% Tex Pac Coal & Oil— 3 9% 9% 9%
14% 9% Tex Pac Land Trust 4 10 9% 9% — %
12% 8% Thermold Co — 2 9 9 9 - V.
32% 24% Thompson P a30c._. 1 271.* 27% 27% + %
8% 4% Thompson Starrett. 8 5% 5% 5% + %
39% 26 Thompson Star pf— 1 27% 27% 27% +1%
19% 14% Tide Wat Asao 6Uc„ 25 16% 15% 16% + %
106% 100% Tide Wat A O pf(6). 4 104% 104% 104% + %
17% 12VS. Timken-Detrolt- 4 14% 14% 14% + %
72% 56 Timken R B <t2) .. 4 60% 59% 60%-%
14% 11 Transamerlca a30c. 12 12% 12% 12%
12 7% Trl-Contl Corp .. 15 8 7% 7% + %
107% 93 Trl-Contl C pf (6).. 2 102 102 102
ft m - rr»_m_c.. • 1 C.1 C t
32% 22% 20th Cent Fox Film. 4 23% 23% 23% — %
41 31% 20th Cen Fox pf 1H- 2 33ta 33% 33%
12% 9% Twin City K T ... 1 9% 9% 9% — %
83 65% Twin City R T pf- 10s 69 69 69 +2
8H 4% Ulen & Co - 1 4% 4’’. 4% + %
133 125% Und-Ell-Fish pf (7) 40s 126 126 126 ,-%
52% 40% Union BagAPap <2> 6 41% 41 41
1 % Un Bag & P .Alay 18 39 % % %
88% 71% Un Carb A Co (2)-.. 10 80 79% 79% + Vi
28% 20% Union Oil of Cal (1) 9 22% 22% 22%
138% 108% Union Pacific 46»_ 4 125 124% 125
97%; 90% Union Pacific pf <4 1 96 96 96
31% 22% Un Tank Car 11.20). 1 24% 24% 24%+%
32% 20% United Aircraft_ 30 22% 21% 21% — %
21 13 United Air Lines vtc 11 17 16% 16%+ %
28% 24Vi United Bisc <1.60).. 8 26% 26% 26%
117 113 United Bisc pf <7) - 10s 115 115 115 +1%
79% 68 United Carbon 2.40. 2 73% 72% 73% — Vi
9% 5% United Corp_ 20 5% 5% 5%
47% 40% United Corp pf 13)._ 6 41% 40% 40% — %
16% 10% United Drug - 11 13 12% 12% — %
25% 15 United Dywood (al) 1 22% 22% 22% — Vi
7% 4% United Elec Coal_ 2 5% 5 5 — %
79 66% United Fruit 13)_ 8 74 73% 73% +1%
19% 14% United Gas Imp <1). 17 14% 14% 14% + ?»
113 109 United Gas 1 pt 45». 1 110 110 110
19% 10 U S Distributing pf 240s 13% 11% 13% +2%
20 13 U S A For'n Seeur— 3 14% 14% 14%+ %
110% 80% U S Gypsum itl I3 84 84 84 +2%
169% 160 U S Gypsum pf <7). 20s 160% 160 160
59 39 U S Ind Alcohol (2) 7 46% 45% 45%
18% 11% US Leather i A i vtc. 1 11% 11% 11%
38% 21% U S Pipe A F < 1V* ) - 1 34% 34% 34% +1
ft ft U S PAFrts May 21. 230 ft ft % + %
13 7% U S Realty A imp.. 1 8%. 8% 8% — Vi
35 16% U S Rubber _ 40 29% 28% 28% + %
80% 47 U S Rubber 1st pf.. 37 68% 67 67% + %
96% 84% U S SmeltARefia*). 3 90 89% 89% - %
72% 46% U S Steel_- 123 56% 54% 55% + %
132% 115% U S Steel pf (2)- 0 120% 120 120
7% 5 United Stores i A)-. 2 5% 5% 5% — %
159% 153 Unlv Leat T pt (8). 20s 156 156 156
115 50 Unlv Pic 1st pt . . 100s 95%. 95 95 -1
3% 1% Unlv PtpeAKad (d) 2 1% 1% 1% — %
22% 13% Unlv PAR pt (d).__ 20s 17 17 17
7 3% Util Pwr A Lt 1A).. 3 4”. 4% 4% - %
2% 1% Vadsco Sales Corp.. 8 1% 1% 1%
36% 28% Van Raaite (1)_ 3 35 35 35 + %
46 40 VickChem(t2)_ 1 43% 43% 43% -rl%
8% 4% Va-Uar Chemical_ 3 5% 5% 5% — %
48% 32 VaCarChemB* pf. 2 35 34% 34%. — Vj
133% 105 Va-Car Ch 7ft pf i7 ). 1 1331% 133% 133%
15% 9% Waldorf Sysi t50c). 3 13% 13% 13% + %
34% 30 Walgreen Co < (2)— 3 30% 30% 30%
34% 26% Walker (H) 12)_ 8 28 27% 28
19 17% Walker <H I of (1).. 2 18% 18% 18%
10 5% Walworth Co- 5 7 6% 6** + %
3% 2% Ward Baking <B)__ 1 2% 2% 2%
14% 9% Warner Bros Pic—_ 16 9% 9% 9-% — %
l'n Warner-guin id)-.. 2 1** 1** 1% —
10Vi 4r** Warren Bros-— 5 8V* 8>* 8‘t — ^
46% 34%' Wesson OAS(t50c). 1 35 35 35 -1
82s. 78 W esson GAS pt (4) 1 80% 80% 80%—%
98%- 87 W est Pa Elec nfl6l 20s 93% 92% 92%+ U
110 96 W'est Pa Elec pf|7) 150s 103 102 102
116 111% West Pa Pwr pfi6> 30s 114 113% 113% — %
121 116% West Pa Pwrpf(7l 40s 119 118% 118% — %
12% 8% Western Maryland. 1 8% 8% 8%
20% 15 Western Md 2d pt1 15 15 15
9% 5% Western Pacific pf- 8 5% 5% 5% — %
95 72% West Union ia2)... 12 76% 74 75
.... ... .. .. . . . a r» j « a 1* n»7i Hi") Ai’e ■ i
43' * 0 4“4 lltllfill 3« il u II/. It* » * uu - t ou t <
122% 94% Westlrigh se El (3) 9 106% 105% 105% —1%
145%- 123% W est g se 1st pt 3% 20s 134% 134%- 134% — %
33‘* 22s* Weston El I (A25C). 2 23% 23 23%-l1)
37% 23% Wheeling Steel ... 2 27% 27 27
109% 86 Wheeling Stl pi t2_. 2 87 86%. 86% —1%
28% 18% White Motor__ 6 21% 21% 21% — %
5%. 3% White Sewing Mch. 3 4 3% 3% — %
5% 2% Wilcox Oil* Gas— 3 4% 4% 4%
11 7% Wilson * Co loUC)— 9 8% 8 8
87 71% Wilson* Copt t6)_ 1 75 75 75 -1
56% 44% W oolwortb «2.40)._ 18 48% 48% 48% — %
35% 23% Worthington Pump 4 27% 27 27V* J- %
75 56 Worth Pump pIlA) 210s 62% 61% 62 +2
66 47 Worth Pump pf(B). 3 53% 52% 52% -1*1
106 62% Wright Aero- 10s 71 71 71 -iv;
79 67% Wngley W ir tt3)_. 1 70 70 70
20% 8% Vellow Truck- 36 18% 17% 17%
13ft 83% lellow TrucK pf.__ 40s 129 129 129 -2
55 44% HoungSp* W (3).. 7 48% 48 48% —
| 61%. 41% i" ngst n Sheet & T— 11 50 48% 49%
19% 11% Zenith KaOlo _ 13 17%. 16% 17 +
9% 5% Zonite Products — 9 6% 6% 6% — Vt
Approximate Sales ol Stocks on the N V Stock Exchange
11:0U*A-M.-— 130.000 ill:UU Nooa_ 270.000
1;00 P.M_ 350.000 2:00 P.M _ 410.000
Total Sales tor the dav (500.000
Dividend rates as given in the above table are the annual
cash payment based on the latest Quarterly or half-yearly decla
rations
s Unit of trading iess than ion shares tAnnual rate—not
including extras ^Accumulated dividends a Paid this year
) b Paid «ast year d Companies reported in receivership or being
reorganized x Ex-dividend
Republic Steel Co.
Appoints Knisely
Advertising Chief
By the. Associated Press.
CLEVELAND, Ohio. May 12.—Re
public Steel Corp.. announced today
! the appointment of Stanley A. Knisely
| as director of advertising, with super
| vision of all advertising of the cor
| poration and its subsidiaries. He was
formerly manager of the advertising
and sales promotion division.
Forrest H. Ramage. formerly as
sistant manager of the division headed
by Mr. Knisely, has been named sales
promotion manager in charge of sales
promotion activities, which will be part
of the new product development divi
sion headed by Julius Kahn, who
recently resigned as president of
Truscon Steel Co. to become vice
president of Republic in charge of
product development.
Chester W. Ruth has been made as
sistant director of advertising and
Walter F. Schultz, former chief me
chanical engineer of Truscon, chief
engineer of the products division.
BOSTON WOOL MARKET.
BOSTON. May 12 <U. S. Dept. Agr ).
—A fair amount of interest was being
shown In fine original territory wool, but
the volume of actual business was very
moderate because of the differences be
tween most bids and asking prices. Bidders
were reluctant to eo above 80 cents scoured
basis, spot Boston, for average to good
French combing length fine territory wools
in original bags. A little wool was re
ported to be moving at this level, but
most holders were rather firm at 82a»3
cents or above.
U. S. TREASURY NOTES.
(Reported by Chas. D. Barney & Co.)
Rate—Maturity Bid. Offer.
l'«s June 15. '30_100 24-32 100 20-32
3‘.s Aug 1. 210_1012-32 1014-32
l’as Sept. 15. 2'St>__ 101 1012-32
23.s Dec. 15. 30_ 102 1-32 102 3-32
3s Feb. 15. ’37._ 103 17-32 102 10-33
3s Apr 15. '37.. 102 31-32 103 1-32
3 V.s Sept. 15. ’37._ 104 10-32 104 18-32
25ss Feb. 1. ’38_ 104 8-32 ’ 104 10-33
3s March 15. 38. 105 5-32 105 7-32
2’«s June 15. 38— 105 7-32 lofty-32
2>aS Sept. 15. '38.. 104 17-32 104 10-32
112S Mar. 15 ’30_ 101 20-32 101 28-32
2'/»s June 15. '30._ 103 10-32 103 21-32
14,s Dec. 15. '30-. 101 11-32 101 13-32
J *i,s Mar. 15. '40._ 101 31-33 102 1-32
1‘as June 15. '40.. 101 13-32 101 15-32
1 >2s Dec. 15. '40 10111-32 101 13-32
l%s Mar. 15. '41— 101 9-32 101 11-32
RUBBER FUTURES.
NEW YORK. May 12 (JH— Crude rubber
futures opened quiet. 3 to 6 lower. May.
15.1Tb: July, 15.30b; September, 15.40.
b-—Bid. —i—
New York Colton
t>y the Associated Press.
NEW YORK, May 12.—Cotton held
generally steady today in a compara
tively quiet market.
Evening up of May contracts was a
little more active than recently, but
pool brokers were credited with selling
at 11.58, or 2 points net lower, while
later months were a few points higher
on trade buying and covering.
At 2 o'clock the market was steady,
net 2 points lower to 3 higher.
Futures closed steady. 1 higher to 2
‘ower' High. Low. Close.
May _11 .H2 11.5M U.5K
jVJv ” _1 1 21* 11 11 •2*'
October I-.- !•*.>'- wi-'-8
December-J •; - M hi | r,i
January -i "i- i!hi J -it
Spot steady, middlme. 11.<33.
Cottonseed Oil.
Bleachable cottonseed oil futures
closed firm. July, 8.94&96: Septem
ber. 8.92; October, 8.66b. Sales, 75
contracts, b—Bid.
New Orleans Prices.
NEW ORLEANS. May 12 The cot
ton market opened Quiet but steady here
today Liverpool cables came in better
than due and first trades showed .gains of
2 to .‘1 points. May sold at 11-5J. July
at 11 1!*- October at lO.Sn and December
at KI.2H. Later in the early trading the
initial gain was Partly wiped out due to
favorable iveather in the belt as shown
on the man. _
Liverpool Quotations.
DWERPOOL. May 12 <*“• ■—Cotton, 10.
000 bales. Including 9.800 American. Spot
in fair demand: prices 1 point lower
Quotations in pence: American strict good
middling. 7.22: good middling. b.9_. strict
middling. 0.72: middling 0.47: strict low
middling 0.22: low_ middlifig S O.; strict
pood ordinary o « •good ordinary.
Futures closed steady^ May. 0.1.8,. July.
BOS; October. 5.88: December, 5.o«» Jan
uary. 5.57; March. 5.57.

SHARON STEEL ISSUES
ADMITTED TO TRADING
By the Associated Press.
NEW YORK. May 12.—The New
York Stock Exchange today admitted
to the trading list Sharon Steel Corp.
15-year 4*2 per cent convertible
debentures, due March 1, 1951, and
the company's 5 per cent convertible
preferred stock.
The debentures and stock were re
cently publicly offered and the pro
ceeds of the sale were used to retire
the concern’s $5,328,000 of 5 \<z per
cent first mortgage bonds.
Washington Exchange
SALES.
Washington Gas 6s B—$1,000 at 100*2
Washington Rwy. & Elec. pid.—100
at 110i2.
Riggs National Bank—5 at 270.
Real Estate Mtge. & Guar. pfd.—54
at 434.
AFTER CALL.
Mergenthaler Linotype—10 at 38*2
BONDS.
Bid and Asked Prices.
PUBLIC UTILITY.
Bid. Asked.
Amer. Tel & Tel. 4Ls_llo _
Am. Tti & Tel col. tr. 5s_ins*4
Anacostia & Pot. os_ 74 77
Anacostia Sz Pot. Guar. 5s_ 108 _
C. A: P Tel. of Va 5s_in:t _
Cauital Traction R R. 5s 80*2 01
City & SuDurban 5s_ 84 87
Georgetown Gas 1st 5s_11 ♦* _
Pot. Elec. Pow. Cons. 5s_inn 100U
Potomac Elec. Os__107*2 _
Wash. Gas 5s 1058___inn _.
Wash. Gas 5s lOOO__118 _
Wash. Gas ns. series B_inn'4 _
Wash. Rwy. Sz Elec. 4s_ 10534 _
MISCELLANEOUS
Chevy Chase Club 5*28_10(1 _
Col. Country Club 5*.»s_104 _
W. M. Cold Storage os_ 00 _
STOCKS.
PUBLIC UTILITY.
Amer. Tel. & Tel. (3)_150 >4 _
Capital Transit Co_ 121a 13'a
N. ft W. Steamboat iH)_ 80 -
Pot. Elec. Po» ti'c ofd. tot_ 11(1 111
Po. El. Po. 51av Dl. (5.501. lll’j _
Wash. Gas Lt. Co. (3.001.. 7!) 85
Wash. Ry. & El. Co. (30).. 550 _
Wash. Ry. & El. pld. <o) 109'b 111
BANK AND TRUST COMPANY.
Ainer. Sec. ft Tr. Co. >10). 200 270
Bank of Bethesda (1.50).. 27
CaDital (4) _120 140
Com. & Savings (8)_185 _
Liberty (3) 100 _
Lincoln >0.251 _ 105 250
Natl. Sav. ft Tr . ._ 120
Prince Georges Bk. ft Tr_. 10 20
Riggs (81 _ 208 280
Riggs ofd (51 _10414 _
Washington (01 _ _117 _
Wash. Loan & Tr. <R)_ 223 . _
FIRE INSURANCE.
American < 1121 _133 __
Corcoran (51 30 _
Firemen s >1.601 _ 30 _
National Union (.601_ 14 _
TITLE INSURANCE.
Columbia (.301 _ 7 _
Real Estate (0)_ 120 -
MISCELLANEOUS.
I Carpel Corp. >L0(U.__ 2314 243«
Mereenth aier"Linotyoe _ ■“>
Peoples Drug S ofd. <6.501 113*4 - —
Real Est. M. ft G. ofd. 1.201 41a 5
Security Storage fol _ lp« -
Ter. Ref. & Wh Corp. (31 51 -
Wdwd. ft Loth. com. itl.BO) 55 64
Wdwd. ft Lothrop pfd. (71- 120 -
•Ex dividend.
tPlus extras.
• 16'’* extra.
NEW YORK BAR SILVER.
NEW YORK. May 12 i/P).—Bar sil
ver quiet and unchanged at 44
STOCKS IRREGULAR
Gains of Fractions to Two
Replaced by Declines I
in Many Cases. j
Stock Averages 1
"no 15 is «n
Indus. Ralls. Ctll 6u>
Net change. +.1 Unc. —.3 —.1 «
Today, close 79.1 32 7 *2.4 S4.5
Prev. day... 79.0 32.7 43.7 58 5
Month ago. 84.5 37.7 48 3 63.8
Year ago... 58.2 22.0 28 1 41 6
1936 high .. 85 8 39 7 50 8 64 8
1936 low ... 73 4 30.2 43 4 55 7
1935 high .. 76.3 31.2 44.7 66.1
1935 low ... 49.5 18.5 21.6 34 8
1932 low ... 17.5 8.7 23.9 16 9
1929 high ..146.9 153.9 184J 157.7
1927 low ... 51.8 95.3 61 8 61.8
i Compiled by tbe Associated Presa.)
BY VICTOR EUBANK,
Associated Press Financial Writer.
NEW YORK. May 12—An early
rising stock market tide backed up in
the final hour today, substituting losses
for gains of fractions to 2 points in
many instances.
It was another one of the dullest *
sessions since last Summer. The close
was irregular. Transfers were around
650.000 shares.
The market did fairly well in the
' morning, but the advance on an ex
i tremely small volume tended to dis
| courage recovery proponents and some
| of these, buyers at one time, turned
sellers. The turnover was not much
! larger on the reaction than on the up
turn.
The European picture was a lit
darker, as the Italians walked out ol
the League of Nations council meet
I ing and sanctions against the Musso
I lini forces were continued, at least *
! until the League meets again, the mid
S die ol June.
Stocks that held improvement in
cluded Allied Chemical. Columbian
Carbon. Continental Can. Montgomerj
Ward and Sears-Roebuck.
Among the less favored were J. I
; Case. Deere. American Agricultural
Chemical. Standard Oil of California,
, Bethlehem and Auburn. Manj’ issues
| were unchanged.
Wheat ended off s* to l7i cents a
j bushel and corn was unchanged tc
1 down Bonds were steady and for
eign currencies irregular.
Chicago Crain
By the Associated Press.
CHICAGO, May 12.—Two cents a
bushel maximum drop in wheat prices
today resulted largely from belief thal
recent generous rainfalls had mors
than offset Government crop figures.
Announcement that a shipment ol
low-grade wheat was coming to Chi
cago from Buffalo, reversing the usual *
movement of the crop, had a bearish
influence, together with proposed fur
ther shipments to Chicago from Mis
souri River points. Predictions were
current that the next official crop re
port. a month hence, would show a
substantial increase of probable do
mestic yield of Winter wheat.
Wheat closed unstable. ’b-I"* undci
yesterday's finish (May. 92-921*; July
84’4 -’si; corn unchanged to Ji low pi
<May. 62 H): oats unchanged to ■’'«
off. and provisions varying from 50
cents decline to 7 cents gain. '■
WHEAT— Open. Hi<tn. Low Clo>.
May ?M»4 .fMT* ' I
July _>#;■» .84 .8434-ti
Sep _.85 >5*4 .83*« >4-8-4 Vi
CORN—
May _.0-:34 .83 .fit: *4 ,;-5«
July _ ««*4 81 .8«*4 Hi*3*
Sep. _.5834 .5!* .58 .58’*
OATS—
May _.*!*»• 4 ."8*4 *-8 * * ^1 •
July _.**•'«> 4 -.V*
Sep __ .*JU5« .-U1 • -*-t>1 •
RYE—
May _.VP 4 .5*2’4 ’a
July _.AM3. ..Vt .VI1 „ _.V2;«
Sep. -,525b .33*8 .523b .533b b
BARLEY—
May .. .. 37
i July _ _ _ _ .30
LARD—
1 Mav_ 10.30 10 40 10.73 10.33
July_10.71 1(1.41 10 77 1032
Sep _ 10.30 10.47 1073 lii.4(i
Oct _ 0 92 10.00 0.»7 10 00
BELLIES
! May_ __ _ _ 13.C5
! July_ _ _ _ r,*>5
Chicago Cash Market.
Wheat—No sales. Corn—No. 3,
mixed. 62-62>2: No. 1. yellow. 66; No.
2. yellow’. 65-6512; No. 3. yellow. 62’
64; No. 4, yellow. 60-61; No. 5, yellow,,
59'2-60»2:’no. 1, white. 68'2; No. 2,
white. 67-69: No. 3. white. 67-68: No.
4. white. 65’2: No. 5, white, 62; sample
grade. 27-59l-2. Oats—No. 2. white,
30U; No. 3. white. 26><-29',2; No. 4,
white, 24',-251 i; sample grade. 21'
2412. No rye. Buckwheat—No. 2, 1.20.
I Soybeans—No. 2, yellow, 85, net, track,
! Chicago; No. 3, yellow, 83’--84; No. 4,
yellow. 80; sample yellow. 50. track,
Chicago. Barley—Feed. 30-48. nomi
nal: malting. 45-92, nominal. Timothy
seed—Per cwt.. 2.75-3.00. Clover seed
—per cwt.. 15.00-22.50.
I.iveroonl Grain Price-.
LIVERPOOL. May 12 uP'.—Wheat W- *
tures closed barely steady.
Preview!
Hiah Low Close close.
May_ K!i», ,SU'. .89>,
July_ 'Ml'. 8!H. 89', .!■'!•»
October_ Kilt, .89 .89 '!>’«
j Exchanee. 4 OT.
WINTER WHEAT CROP
IS UNDER AVERAGE
Forecast Is for 463,447,000 Bush
els, Still 30.000.000 Above
s
Last Year.
A Winter wheat crop of 463.447,000
bushels, 30.000.000 bushels more than
; last year, but nearly 185.000.000
. bushels less than average and 6 per
cent below last month's estimate, was
forecast by the Agriculture Depart
' ment today.
The department blamed dry or told
April weather for the indicated short
crop, which would be the fifth light _
yield in succession.
Abandonment of sovfti acreage was
less this year than last, the report
showed, but the condition of the crop
• May 1 was only 67 per cent cf normal,
; compared to 75.3 per cent on the cor
responding date of 1935.
The department said a very marked
improvement in weather conditions
' since the first of this month augured
well for wheat and rye. Indicated pro
. auction of the latter crop is more than
20,000.000 bushels less than in 1935,
although double that of the 1934
• yield.
FREIGHT LOADINGS.
NEW YORK. May 12 OP*.—Revenua
freight carloadims on railroads reportml
today for week ended May 9 included
Wk. May 9. Pv. wk. Last yr.
Ches. & Ohio 32,173 31.305 35.032
Chicago & N.W. 25.221 25.489 21.4119
Nickel Plate 14.243 14,435 11.205
Perc Marquette 11.667 12.048 9,3.19
M-K-T 7.400 7.532 6.273
Southern Pacific 35 003 34.927 29 **»
Missouri Pacific- 23.012 22.841 10 401
Wabash __ 13,629 13.731 12.3*2
Frisco _ 12.788 13.013 11.19&

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