Evening star. [volume] (Washington, D.C.) 1854-1972, May 18, 1936, Image 16

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Evening star. [volume], May 18, 1936, Page A-16, Image 16
About Evening star. [volume] (Washington, D.C.) 1854-1972

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Evening star. [volume] (Washington, D.C.), 18 May 1936. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83045462/1936-05-18/ed-1/seq-16/>

Newspaper Page Text

SOMES. E.C. RULES
TERMED HARMFUL
“Unreasonable Margins”
Scored by Spaid at Annual
Exchange Session.
BY EDWARD C. STONE.
Certain Securities and Exchange
Commission laws and regulations,
which were Intended to benefit the
public, have
proved harmful
to both the public
and the brokers
W. W. Spaid
Washing ton
broker, declared
•t the annual
convention of the
Associated Stock
Exchanges in
Cleveland today.
He also insisted
that speculation
cannot be stopped
by the exaction of
unreason able
margins. w. w. spaid.
As president of the association, he
made the keynote address, pointing to
the more vital changes in the broker
age business in the past year. In spi'a ,
of the mounting regulations governing j
the exchanges, he said, the regulation j
of the so-called "over-the-counter i
markets’’ remains to be dealt with ;
and the "purpose of all S. E. C. legis
lation falls unless this control can ac
tually be accomplished."
"Exacting unreasonable margins,"
Mr. Spaid said, "will drive legitimate
speculative funds to other markets |
where the requirements are not so j
high. I cannot find any other specu- |
Jative market that makes such an un- 1
reasonable requirement as 55 per cent !
of the market value or 122 per cent !
of the amount loaned. So that part !
of our business—that is, the carrying j
of securities—is on the way out. un
less. of course, these requirements are j
reduced.
V UI1MIM iinu
“I am fully aware of the fact that ,
6 E. C. laws and regulations are said i
to have been made for the benefit of !
the public and not for the brokers, but j
let us see if that is the way it is work- j
tng out. It is apparent that the idea
nf credit control by raising and lower
ing margins is pretty firmly imbedded
in the minds of those in authority.
Such a thing would be possible theo- !
retically if all markets were controlled; j
but where the control is of not more j
than 20 per cent or 25 per cent of all!
trading it cannot be effective.
• By this method, it is true, some
buying in listed securities on registered
exchanges can be stopped; but. may I
ask. of what value is this accomplish
ment when the money, thus removed
from the legitimate or regulated chan
nels, is driven directly Into the unreg
ulated, uncontrolled and unliquid
markets? The public certainly has not
been benefited; it actually has been
harmed.
"I make bold to say that as our mar- j
kpts exist at the present time such
activities will not only fail to accom
plish a regulation or control of credit,
but will do the public an injury as
well. I do not have to tell you that
this change in the use of speculative
funds. If continued, puts our commis
sion houses in the class of short-line
railroads and street car companies—
we are a decadent business,” he said.
Type of Business Changing.
"There is no doubt in my mind but
that the character of our business is
changing. For example, let us take
the commission house whose principal
business for years has been buying and
carrying stocks for its clients—the;
kind of an organization which has
come in for very little criticism.
“I feel safe in saying that heretofore
the business of a so-called commission
house has been about 75-per cent to 80
per cent in margin accounts. Today
over 50 per cent of its transactions are
for cash, and while this statement at
first blush might seem to justify the
theory that we are turning a nation
of speculators into a nation of in
vestors, that theory is far from the
truth.
"It is not the amount of margin de
posited in an account that distin
guishes speculation from investment,
but the character of the purchase.
Speculative securities purchased out
right are still speculations.
*' A t (VtA nrnenn f ti mo not- font rtf
the trading in stocks and bonds in this
country is not regulated. An increase
or decrease in margin requirements on
the 25 per cent of securities traded in
on regulated exchanges is not going to
change the economic trend of our
country or the business morals of our
people.
Sees Education Needed.
“No one knows better than we do
that during these seven lean years
Since 1929 the stock-broking business
has not been blessed with surplus
amounts of public applause. This atti
tude may be attributed partly to our
own mistakes—we have made plenty
of them—but mostly it is due to lack
of public understanding of the prin
ciples and purposes of our stock
exchanges.
"Our business is just as essential and
just as necessary to the present finan
cial set-up of this country as any other
economic factor of exchange. It is our
duty to see that the public understands
this fact. This can be accomplished by
education, by the elimination of bad
and unethical practices, and by the
expulsion from our business of dis
honest so-called brokers, who have no
objectives save the making of money,
regardless of the means employed,” lie
concluded.
Safe Deposit Experts Meet
Albert E. Fisher, Riggs National
Bank, chairman of the safe deposit
section of the District Bankers’ Asso
ciation; Richard E. Harris, American
Security Sc Trust Co., a former chair
man, and Mrs. Helen R. Sharpe, Bank
of Commerce & Savings, secretary of
the section, leave Washington tomor
row to attend the National Safe De
posit Convention at St. Louis, May 21,
22 and 23. They will join groups
from Baltimore and Philadelphia, as
well as delegations from New York
and New England, at Harrisburg.
The members of the organization In
clude supervisors of safe deposit de
partments and those directly in
charge of safe deposit vaults.
Heard in the Financial District.
Trading on the Washington Stock
Exchange today Included the sale of
IS shares of Riggs National Bank com
mon at 270. Potomac Electric Power
5^ per cent preferred changed hands
on two 10-share sales at 110 Vi and
the same corporation’s preferred stock
moved at 109, all sales ex dividend.
Auchinclo6s, Parker Sc Redpath,
New York Stock Exchange firm, has
opened new offices at 63 Wall street, it
■was announced today. The head office
is in the National Savings Sc Trust
Building in this city. 1
TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE!
By Private Wire Dlreet te The Btar.
Prev. 1936 Stock ana Sales— Net
High. Low Dividend Rate. Add 00. High. Low. Close.Chee.
13% 9% Adame Kxp (alOo). It 10% 10% 10% + H
35% 23% Adams M1111a(a75c) 7 23% 23% 23% + %
21% 1% Advance Rumley_ 2 2% 2% 2% — %
61% 58 Air Reduction_ 23 61% 60% 61 + %
6% 2 Air-Wey Klee Appl. 6 4 3% 4
17% 13% Alaska Jun tt60c)_ 17 14% 14 14%+%
4% 2% Allen Corp (d)- 18 3% 3 3
30% 12% Allen Pf w*30w(d)_ 16 21% 21 21
45% 27 Allen prpf(d)- 9 33 31 31
208 1 57 Allied Chem <«)_ 2 193% 190% 190% -3%
28% 23% Allied Mills (1)_ 3 25 24% 25
9% 6% Allied Storea_ 127 9 8% 8% - %
74% 69 Allied Storea pf(8)_ 1 72 72 72 -%
50% 35% Allls-Chalmere_ 5 43% 43 43 + %
125% 75 Amerada Corp (I).. 1 94% 94% 94% — %
56% 42% Am Bat* N <a59c>. 2 45 45 45
128% 124 Am Brake Sh pf 5%. 30s 128% 127 128% + %
134% 116% Am Can tt4l _ 7 130% 129% 129% - %
*.66% 163 Am Can pf (7)_ 3 163% 163% 163% - %
41 30 Am Car ft Foundry. 3 34% 32% 33 + %
73% 67% Am Car ft Fdry pf.. 3 62 62 62
58% 31 Am Chain _ 2 47 46% 46% -2%
95% 87% Am Chicle (4)_ 1 89 89 89 + %
32% 23% Am Cornel Alcohol.. 5 24% 23% 23%-%
24% 16% Am Crystal Sugar . 44 21% 20% 21 -1
95 89 Am Crys S 1st of (6) 60s 90% 90% 90%+ %
5 3% Am Kncaus Tiling . 4 4% 4% 4%
14% 9*4 Am European Sec_ 1 12% 12% 12% +1
9% 6% Am ft Foreign Pwr. 2 7% 7% 7% — %
43 29% Am ft For Pw *7 of. 1 33% 33% 33% - %
18% 12 Am * For Pw 2d pf. 1 14% 14% 14%
18% 13 Am Hawaiian U)--. 1 16 16 16
8% 5% Am Hide ft Leather. 1 6% 6% 6% + %
41% 37 Am Home Pr (2.40). 8 4(1 39*4 40 + %
4% 3 Am Ice_ 3 3% 3% -3% + %
24 17% Am Ice pf (2)_ 1 19% 19% 19%-%
13% 9% Am International... 8 10% 10% 10%
36% 23% Am Locomotive___ 7 27% 26% 27% + %
29% 21 Am Mch ft F <S0c).. 3 23 22% 22%-%
15 10 Ain Mach&Met elOs 1 10% 10% 10%+%
35% 27 Am Metel 3 29% 28% 29% - %
133 124 Am Metal pf (181 . 1 130 130 130 +1
42% 35% Am News NY(l.XO). I 40 40 40 +28.
13% 7% Am Power ft Light. 121 11% 10% 10% — %
52% 36% Am P*L 25 pf(l% > 26 47% 45% 45%
60% 43 Am PftL 26 nf(l%) 9 54 53 53% + Vi
27% 18% Am Radiator 85 20% 19% 19% - %
165 157 Am Radiator pf (7) 60* 163 161 163
34 26% Am Rolling M(l.20) 25 27% 27 27
91% 56% Am Sm&Ref <a80c). 15 77% 76% 77%-%
108 104 Am Sm&Ref pf (6). 1 107% 107% 107** + %
73% 57% Am Snuff <t3) _ 3 64% 64 64%—%
33% 20% Am Steel Foundry 15 28 27% 27%-%
117 107*4 Am Steel Fy pf t2). 180* 112% 112% 112*. + V.
61% 48% Am Sugar (2) 4 54% 54 54*. + %
141% 129 Am Sugar pf (7) .... 1 136 135 136
26% 20*. Am Sumatra Tob U. 5 23*. 23% 23% + %
178 149', Am Tel & Teleg (9). IS 161% 160', 160', -1%
102% 87 Am Tobacco (5)_ 5 92% 91% 91%-%
104 88% Am Tobacco B (6).. 12 93% 93 93 -1
150 136 Am Tobacco pf 16) 1 144% 144% 144% 4 2%
10% 10% Ain Typ Fou pf new 13 10', 10% 10%
25% 19% Am Water Works... 26 22% 21% 21%-%
11% 7% Am Woolen. 5 8% 8% 8% + %
70% 54% Am Woolen pf (al). 14 61% 60% 60%
2 % Am Writ Paper (d)_ S % % %
32% 26 Am Zinc & Ld pr pf. 1 24 24 24 -2%
39*4 28 Anaconda C<a25c).. 89 34% 33% 33% — %
a. 1 Anohnr/'or. iClIol A 1(11.. 1Q1. 1 Oft. _ 1.
Ill 97 Anchor Cap pf 6% .. 80s 99% 99% 99%+ %
110% 105% Armour Del Df i7»_ 1 105% 106*. 106*.
7% 4% Armour (Illinois)_ 41 5 4% 5 — %
84 66% Arm'rlilDpr pfi6)_ 1 72% 72', 72%
62% 47% Armstrong C (1%). 2 54 53% 54 + %
15 7% Arnold Constab 50c. 5 12 11% 11% — %
22% 8% Artloom Ccrp_ 6 16% 16 16
17% 12% Asso Dry Goods_ 8 14*. 14% 14% - %
86% 59 Atch To&S Felb2)_. 5 74% 72% 72%-%
104% 90% Atch To&S Fe pf(5> 7 101% 101 101% + %
35*4 21% Atlantic Coast Lins 3 25 23% 23% — %
16% 11 Atl Gulf & W Ind . 170s 13% 12% 13% +1%
18% 13% Atl Gulf&W Ind pf. 2 15% 15% 15% +1
35% 27% Atlantic Ref (n _ 7 29% 29 29 — %
30% 17% Atlas Tack <a25o)._ 1 18 18 18 + ■%
54% 27*4 Auburn Auto.. ... 6 31% 30% 30% — %
7% 4% Aviation Corp(Del) 11 5% 5% 5% — %
6% 3 Baldwin Doco (dl — 83 3*» 3% 3%
54% 29% Baldwin Loco pf(d) 16 41% 38% 40 +1%
24% 15% Baltimore* Ohio .. 67 19 18 18 - %
34% 21 Baltimore* Oh pf.. 2 25%. 24% 24'. + %
20% 13% Barker Brothers_ 1 15', 15% 15'* — %
20 14% Barnsdall <t6Uc)_ 17 17% 17', 17% - %
114% 110 Bayuk lstpf (7)_ 20s 110% 110% 110% - %
109% 107 BeatriceCr pf (7)_ 1 109*, 109% 109*, + %
16% 13% Belding-Hem «1 >_ 1 14% 14% 14%+ %
31% 21% Bendlx Avlatlon(l) 65 29 28 28 -%
24% 20 Beneficial Loitl Vi) 4 21% 21 21
6.3% 45% Bethlehem Steel_ 84 52% 50 50 -1%
19 16% Beth Steel 5% tl).. 4 17% 17% 17%
120% 110 Beth Steel 7% pf(7) 1 112% 112% 112% + %
48 23 Bigelow-San <a50c) 1 35 35 35 + %
20V. 14% Blaw-Knox (a20c)-. 5 16% 16% 16%
26% 161, Boeing Airplane_ 6 19% 18% 18*. + V.
63% 46% Bohn Alum & Br(J) 9 49% 48*. 48% -1%
100% 93 Bon Ami A (4)_ 50s 93 92% 92%-%
30% 25% Borden Co (1.60)_ 8 27% 27% 27%-%
83% 64 Borg-Warner (3)_ 4 72% 71% 71% — %
11% 6 Boston & Maine_ 1 6*. 6% 6% + %
18% 13% Brldgep't Brass 40c. 3 14% 14% 14%+ %
64% 43% Briggs Mfg 412>_ 33 48*. 47% 48%+%
48% 41 Bristol-Myers <t2)_ 2 42% 42% 42%
50% 40% Bklyn-Man Tr (31__ 2 46*. 46*, 46%—%
104 97% Bklyn-Man T pf(6). 1 101% 101% 101% - %
56% 44% Bklyn Un Gas <3)„ 4 46', 46% 46'-,+ %
65% 52 Brown Shoe (3)_ 1 51% 51% 51% — %
14% 8% Bucvrus-iVrle_ 6 11% io% 10*. ■+ %
20% 13% Bucyrus-Krle ct pf. 3 15% 15% 15*, + %
113', 100 Bucyrus-Krle pf J2. 40s 106 106 106
15% 9% Budd (K Gl Mfg 33 15% 14*. 14*.-%
3% 2% Budd Mf lpd.JulylS 12 3% 3% 3% - %
14 8% Budd Wheel_ 10 10*, 10% 10% — %
31% 20*. Bullard Co_ 5 24 23% 23% + %
28% 11% Bulova Watch_: 2 25*. 25% 25*,-%
33V* 25 Burr Ad Mchtt60c). 9 56% 26% 26%+ %
25% 16% Byers (A M)_ 2 18% 18% 18%+ %
74 56% Byers (A M) pf_ 10s 57 57 57
25% 22 Byron Jackson (1). 1 24 24 24 — %
37% 30% California Pkgd Vi) 2 31% 31 31 +%
14 6 Calumet&Hec a25o. 24 11% 11 11 — V*
40% 30 Campbell Wy (tl)_. 4 32% 31% 31% — %
16% 10% Canada Dry G A_ 2 11% 11% 11%+*,
16 10% Canadian PaclOe_20 124, 12% 12% — V*
43% 37 Cannon Mills 12)_ 1 39 39 39 + %
52% 45% Cap Adm pf A i3>_80s 50 50 50 > %
100% 91 Car-Clin&O eta (6). 30s ino 100 100
172% 92% Case <J I) Co 6 154% 153 153 - %
79 54*. Caterpillar Trac(2). 6 75 74% 75 + Vi
32% 21% Celaneee Corp a&Oc. 5 23% 22% 22% - Vi
31% 19 Celotex Corp . .. 1 23% 23*. 23% - %
68 47% Cerrode Pasco (4)_. 4 55 54% 55 + %
19% 12% Certaln-teed Prod . 4 14 13% 13%
104V. 101 Champion Pa pt 16) 10a 103% 103V, 103%
69% 22% Checker Cab Mfg—. I 53 53 53 +5%
61 51 Ches* Ohio (2.SO). 32 57% 56V, 56% - V,
74% 59 Chesapeake Corp(J) 5 66 65 66 +1%
8% 4 ChlGrtWpf(d)_ 2 5% 5% 5%
2% 1% Chi Mil StP*P td)„ 2 1% 1% 1%
4% 2%Cbt*NW<d)_ 17 3', 3 3%
7% 3%ChlKlftP6*pf(d)’ 1 4 4 4 + %
8 3% Chi R l*P T% pf (d) 2 4% 4 414+%
30V* 23% Chickasha C O < 2)_ 1 23% 23% 23%
11% 7 Child* Co _ l 7% 7% 7%
103V, 85% Chrysler Corp (6)~ 187 96V* 94 94 - %
19% 15V* City ice* FuelO) t 17% 17% 17%-%
86% 72% City IceftF pf <«%> 130* 81 80% 81
7% 4V* city Stores_ 1 6% 6% 6% — %
46V* 23% Clark EaulD <*0e>-. 3 35 34V, 34V, —1
90 90 CCC&StLpl (5). 10* 97 97 97 -1%
46 35 Clev Graph BMtl). 2 37 37 37
70% 48 Cluett Peabody (1). 1 52 52 52 - %
97% 84 Coca-Cdla IZ)_ 18 93% 90% 93% +3
20% 14% Colgate-P-P (60c>.. 33 15V* 14% 14% - V*
106V, 102V, Colgate P-P of <6>- 1 103 103 103 + %
51% 39V* Collins & Aik (2).2 44 43V* 44 + %
112 107V* Collins A Aik ot t7) x 30s 110V* ltOV* 110V4 +2
24% 8% Colonial Beacon_ 40s 18V, 18 18% — %
9% 3% Colo Fuel ft Ir <d)_. 6 5% 6% 5% - V*
49 24 Colo FA i pf (d)... 10* 274« 274* 27*« + Vi
36% 21% Colo ft South_ 220a 32% 20 31 -2
37% 19% Colo ft South l»t pf 10* 29% 29% 29% + %
21% 14 Columb U&B(a20c) 240 19V* 18% 18V*
102 90% Col O A E pt A «6>. 1 99% 99% 99**+ %
134 94 Colum Carb vtc (74) 9 124 120 120
59% 44 Cornel Credit (1H1- 49 69% 58% 58%-%
115 110 Cornel Cred of (6%) 5 112 111% 111% + V*
82% 55 Cornel Inv Tr t3.60. 12 81% 81 81V* — %
110% 97 Cornel In Tpf(4%). 1 107V* 107% 107%
24% 17 Cornel Solv <60c>... 36 18% 17% 17%—%
5% 2% Comw ft Southern.. 169 3 2% 3 + %
82 59% Comw ft Sou pf (*). 1 64% 64% 64%+%
44% 34 Congolaum-N 1.60._ 3 35% 35% 35% — %
13% 8% Conaol Cigar __ 2 9% 9% 9% + V*
85 72% ConCpr of ww «H- 10» 78 78 78 + %
4% 3% Cons Coal (Del) vtc 4 3% 3% 3% + %
20% 18 Con C’l (Del) vtc pf 230s 19V* 18% 19%+%
38% 27V4 Conaol Bdia N IU). 77 31 30 30%+%
108% 102 Conaol Ed NT pf (6) 4 105% 105% 105% + %
7% 4%Conaol Film.. 2 5% 5% 5% - %
20% 15V* Con Film of <t60c>_ 3 18 18 18 - %
6% 3% Consol Laundries.. 3 4% 4% 4% + v*
15% 11% Consol Oil (aZbc)_68 13% 12% 13' + %
11% 6% Consol K R Cuba pf. 7 8% 8% 8% + %
1% % Conaol Textile id).. 20 % % %
26% 15% Container Corp_ 2 17 16% 17 +%
19% 10% Conti Baking (A)„. 13 14% 14 14%+%
2% 1% Conti Baking <B)._ 3 1% 1% 1% - %
77% 67% Conti Baking of (4) 3 75% 74% 75% + %
87V* 67% Conti Can (3)_ 40 73V, 72% 72V, - %
30 32 15 32 Cont Can rts.May 25 419 29 32 27 32 27 32
24% 18 Cont’l Die F (abOc). 4 19% 19 19%+%
46 35% Conti Insur (tl.20). 5 39% 39 39% + %
4 2% Conti Motors__ 15 2% 2% 2% — %
38% 29% Conti Oil of Delll) 19 32 31% 31% — %
46 29% Conti Steel Corp<2). 1 31% 31% 31%-%
69 55% Corn Ex BKSTr ill 70s 60% 60 60% + %
78% 68% Corn Prod Ref l*l„ 15 77 76% 76%-%
168V* 162 Corn Prod R pf C7)_ 1 166% 166V, 166% + %
7% 4% Cotv Inc .... 4 5% 5% 5%
37V* 36 Cream of Wb 12)_ 3 35% 35% 36%-)-%
27% 15% Crosley Rad (b25e). 9 26% 25% 25% + %
63% 43% Crown C * 8 O t 23 55% 63% 54 - %
47V* 45% Crown CAS pf (2.70) 1 46% 46% 46%+%
10% 7% Crown 7*lleb*k Tte- 18 8 8
2% 1% Cuba CO 1 1% 1% 1% + %
18% 10% Cuba R R pf-190a 12% 12% 12%
14% 6V* Cuban-Am Sugar.— 19 11% 11 11
102 63% Cuban Am 8ug pf _ 10s 96% 95% 95%—%
44% 37 Cudahy Pkg OH).. 1 37% 37% 37%-%
24% 18 Curtlk Publishing— 10 19 18% 18% -*.%
Prev. 1936 Stock and Sain— Mat
Sigh. Lo v. Dividend Rate. Add 00. High. Low. CloM.Chge.
94 4 Curtiss W right- 132 6% 6*4 6% + 4
214 104 Curtiss Wright A-_. 90 164 15H 154 + 4
9% 7% Davega Storea tSOo. 1 8 8 8 —4
894 62 Dears ft Co_ 4 79 774 784
31 27 Deere ft Co pf 11.40. 2 294 294 294 +4
26 194 Delsel-Wera-G t60o. 11 244 234 244 +4
52 364 Delaware ft Hudson 16 42 40 404 +1
234 144 Del Lack ft West_ 40 17 154 154 -4
68 42 DevoeftRay(A) (2). 1 624 624 624 -24
404 334 Diamond Mtch tl 4 3 344 344 344
344 184 Diet CorpSeag Ltd. 41 264 234 234 -24
564 414 Dome Mines (t2)_ 67 58 54 664 +24
754 60% Douglass Air__ 45 58 664 664 — 4
37 29 Dresser A <blH)_ 1 334 334 334 +4
153 133 Du Pont de N S.60_ 13 1434 1414 1414 -24
1334 129 Du Pont deb (6)_ 2 1294 1294 1294
94 64 Eastern Roll Mills.. 2 64 64 64 + 4
1704 156 Eastman Kod <t6).. 1 1634 1634 1634 -24
lf6 158 Eastman Kod pf (6) 30s 164 164 164
37 284 Eaton Mfg <2>_ 6 33 324 324 - 4
44% 304 Elec Auto L (1.20).. 1*6 36% *5% 35%-%
17% 10 Electric Boat_ 7 114 11 11—4
74 54 ElecftMus In(b24c). 2 6 6 6 —4
164 6% Eleo Pw ft Lt.. 229 154 14% 144-4
64% 294 Eleo Pw ft Lt *6 pf_ 26 57 55 56 +14
694 324 Eleo Pw ft Lt *7 pf. 29 634 62 624 + 4
554 444 Elec Stor Bat (t2)_. I 464 464 464 — 4
1% '.a Elk Horn Coal (d)_. 50 1 4 4
34 14 Elk Horn C pf <d)__ 83 2% 1% 1% — %
15 74 Engineers Pub Svc. ' 1 13 13 13 + 4
7% 54 Eqult Office Bldg... 1 64 64 64
17% 11 Erie R R- 6 134 124 124 + V*
274 16 Erls R R 1st pf- 2 184 18% 18% + 4
19 114 Erie R R 2d pf__ 4 13 124 13
15% 12 Eureka Vac C(80c). 3 134 134 134
404 29 Evans Products (1). 2 334 314 314 -14
84 44 Exchange Buffet__ 1 54 64 54
54 24 Fairbanks Co..480a 34 3 3 — 4
184 84 Fairbanks Co pf.„. 120a 134 13 13 — 4
53% 344 Fairbanks Morse .. 4 49 484 484 — 4
414 31% Fajardo Sugar (2).. 5 374 374 374 — 4
25 184 Federal Lt ft Trao.. 7 214 21V* 21%+ 4
92 404 Fed Min ft Smelter_ 2 474 46 46 — 4
12V* 7*. Fed Motor T(al0c). 1 94 9% 9% — V*
44 24 Fed Water S*e (A). 3 34 34 34
254 204 Fed d Dept Stroll>_ 1 244 24 244
494 38 Fid Phoe F Ktl.201. 6 404 404 404 + 4
334 244 Firestone TAR 1.20. 8 29 28% 28%+ 4
1044 1004 Firestone Df A 4«> 2 1034 1034 1034 — 4
484 40 First Nat Strs(24). 2 434 43 434—4
114 44 Follansbee Bros id) 2 74 7% 7% — %
38 30% Fourth N1 wwa7Bo. 1 324 324 324 + V*
35% 284 Freeport-Texas (11 2 30V* 304 304 —4
135 120 Freeport-Tex pf(6). 20s 125 125 125
75 47% Fuller Co pr pf_ 10s 6214 624 624 -34
184 114 Gamewall Co_ 130* 124 12 12 -4
124 9 Gen Am Investors.. I 94 94 94 + %
1044 97 Gen Am Inv pf (6).. 1 103 163 103 + 4
63 424 Gen Am Trans(l*i ) 22 48% 474 474
34% 22 Gen Asphalt(b25e). 2 254 254 254 -4
14% 10% Gen Baking (600_ 1 114 114 114+4
150 141 Gen Baking pf (8).. 20a 1494 1494 1494 - 4
11% 7% Gen Bronxa___ 8 84 8 8 — %
15% 5% Gen Cable_ 3 104 10 104
33% 17 Gen Cable (A)_ 4 26 25% 25% + 4
95 704 Gen Cable pf_ 1 SI 81 81 +44
684 534 Gen Cigar 114>_ 1 56% 564 564 — 4
414 344 Gen Blectrle (1)_ 61 37 4 364 364 -4
394 33% Gen Foods <1.80)_ 28 384 384 384 + %
70% 59% Gen Mill* (S)_ l 63% 63% 63% — %
120% 117% Gen Mills pf (4)_10.119 119 119 + H
71 53’, Gen Motors (t2)_ 241 63% 62% 62%-%
8% 5% Gen Outdoor Ade... 3 7% 7 7 — %
33% 18% Gen Outdoor Adv A. 3 32 32 32
3% 2 Gen Realty ft Util __ 3 2% 2% 2%
60% 32% Gen Stl Casting pf.. 20s 37 37 37 -1%
18% 15% Gillette Saf Raxll). 14 16% 15% 16%+ %
90 83 GllletteS R pf (6).. 2 83% 83% 83%-%
11% 6% Glmbel Bros.. 14 10% 10 10 +%
86% 69 Glmbel Bros pf(a2). 2 79% 79 79%+%
55% 44% Glldden Co (2)_ 10 47% 47% 47%-%
114% 105% Glldden Co pr pf (7) 40a 106 106 106
7% 3% Gobel (Adolf)_ 5 5 4% 5 - %
10% 7 Goebal Brw C(t20c) 8 8% 8% 8%
21% 15% Gold Duat (1.20)_ 27 16 15% 15’,-%
23% 13% Goodrich <B F)_ 32 20% 20% 20%
31% 21% Goodyear TAR_ 39 26% 25% 25% - %
99% 87 Goodyear *7 pf (4)_ 2 93% 93 93 - v4
12% 8% Gotham Silk Hose.. 3 9% 9% 9% + %
4% 2% Graham-Patge —_ 1 2% 2% 2%
6% 3% Grand Union ctfs__ 2 3% 3% 3%
23% 16 Grand Un pf 62%e.. 2 16% 16% 16% + Vi
33% 28% Grant (W T) (1.40). 12 31 30% 31 -%
44 32% Grt Northern pf_ 10 36% *5% 35%—%
3 1% Grt Nor Ry..June 1 117 2% 1% 1% — %
20% 16 Grt Nortb’n Orell). 4 17 16% 16%—%
39 31 Grt West Sug (2.40) 30 37% 36% 36%+ %
28% 22 Green! HLlCo (tl). 7 24% 24 24%+%
80% 48% Greyhound Corp._— 6 57 56% 57 + %
3% 1% Guantanamo Sugar 4 2% 2% 2%
39 26% Guantanamo Sug of 10s 35 35 35
34 30 Hackensack W(1V4) 1 33 33 33 — Vi
119 109% Hamilton W pf (5). 10s 110 110 110
41% 30% Harblson Walk(tl) 1 34% 34% 34% — %
16% 12 Hat Corp of Am(A). 10 16 15% 15% - %
9 4% Haves Body_ 6 5% 6% 5%
135 128 Hercules Pdr pf (7). 10. 130 130 ISO
44% 30% Holland Furnace 4 34% 33% 34% + %
12 9 Holland ft Son (60c) 1 10% 10% 10%
37 19% Holly Sugar (1)_ 4 34% 34% 34% -1%
44% 40 Houd-Hersh A(2%) 1 40% 40% 40%
33 22% Houd-Hers (B)1H- 14 24% 24 24 +%
75 65% Household F pf t3 — 2 75 74% 74% — %
12% 6% Houston Oil vte_ 11 9 8% 8% - %
57% 48% Howe Sound <43) — 5 52% 52 52%+ %
19% 13% Hudson Motor Car— 9 IS 14% 14% — %
3% 1 Hupp Motors_ 15 2% 2% 2%
28% 18% I lltnols Central. 28 20% 20 20 - Vi
45 31 Illinois Cent pf (A). 1 32% 32% 32%+%
70 58 III Cent Isa llnes(4). 30* 63 62 62 + %
13% 4% Indian Rehnlng ._ 3 10% 10% 10% + %
34% 26% Indus Rayon (1.6S). 9 27 26% 27 - %
114% 90% Inland Steel (3)_ 5 92 91% 92 + %
13*4 6% Inspiration Copper. 2 10% 10% 10%—%
18% 11% Interboro R T <d).. 1 12% 12% 12% - %
5% 2% Intercontl Rubber.. 1 3% 3% 3%
15% 9% Interlake Iron 2 10% 10% 10% + %
5% 3% Int Agricultural- 3 3% 3% 3% - %
185% 160 Int Bus Mach <tS)_ 1 168 168 168 +1%
49% 35% Int Cement (1%)- 17 47% 46% 47%+%
89% 56% int Harvester 1.20.. 9 84% 84 84 - %
5% 2% Int Hvdro Elee <A). 6 3% 3% 3% + %
8 4% Int March Marine 2 5% 5 5 — %
54% 43% Int Nickel(Can)l.:0 43 47 46% 46% — V,
7% 3% Int Paper * Pw(A). 2 5 5 5
3% IS lot Paper* Pw(C). 1 2 2 2 + %
36% 20% Int Paper* Pw pf- 15 25% 24% 24%-1
111 107 Int Print Inkpf(S). 10s 109% 109*, 109% +1%
8% 3% Int Rv Cent Amer . 270* 7% 7 7
6*, 3 Int Ry Cent Am vtc 20s 5% 5% 5% - %
36*. 19% Int Ky C A pf_110s 36 35 35
29% 23 Int Salt (1%)_ 1 25 25 25
53% 47% Int Shoe <t*)_ 2 48% 48% 48%
(•+ P . (111.... _ # tn. EJ1 E*)l, E 4 ■ I f
19'* 124 Int Tel * Tel- 47 14V. 13%. 134-4
144 10*. Interstate Dept Str_ 4 114 114 114+ 4
224 15 lntertvpe (50c)_ 3 214 21 21 —4
294 27 Island Creek (2) - 3 284 274 284 +14
123 113 Island Creek pf (6). 60.113 117 118 -2
774 584 Jewel Tea (4)- 1 704 704 704 - 4
129 88 Johns-Manvllle(2). 13 984 95 95
1264 121%, Johns-Mane pf <7)_ 30s 125 125 125
90 4 774 Jones*Laug;b74pf_ 20a 794 794 794
26 13 Kans City Southern 2 214 204 204 -4
214 17 Kaufman Den 8 (1) 2 204 20 204 +4
33V* 27 Kayser(J)* Co a75o 3 284 284 284 -4
28*. 204 Kelsey-Hayea (A)-. 1 214 214 21%. — 4
254 184 Kelsey-Hayes (B>_ 4 194 19 19—4
25*. 144 Kelvlnator (t60c)__ 33 21 204 204
414 284 Kennecott <11- 24 374 37 37 -4
974 73 Keystone Steel (4). * 2 19%. 194 194+4
254 204 Kresg# (SS) (1)— 5 214 214 214 -4
28 224 Kroger GAB (1 60). 3 224 224 224 -4
334 204 Laclede Gas (St L) - 30s 234 234 23V, + 4
47V* 344 Laclede Gas St L pf. 70s 35 344 35 + 4
26*. 194 Lambert Co (2)_ 5 20*4 20*4 204
104 74 Lane Bryant- 1 84 84 84 — 4
164 124 Lea RubATlre (60c) 8 134 13 13 - 4
4 24 Lehigh VallayCoal. 42 24 214 24 - S
164 94 Lehigh Val Coal pf. 43 124 11 11 +4
144 84 Lehigh Valley R R. 7 94 94 94 - 4
100%. 89 Lehman Corp (I > — 9 964 954 96 +4
154 12 Lehn & Fink (14)— 5 15 15 15
464 374 Lerner Stores (2)— 1 414 414 414 + 4
114 74 Libby McMelll A L- 1 74 74 74
634 474 Libbey-Owens G(2). 9 564 554 654 1
116’,<. 97** LlRKftMyers B(t4). 4 108 1074 108
604 37 Link Belt (1.20)_ 2 40 394 40 +1
644 43 LoeWs Ino (t2)_._ 3 474 474 474 + 4
34 2 Loft Ino_ 1 24 24 24 —4
84 34 Long Bell Lum (A). 2 6 6 6
1124 1094 Loose-Wiles pf (5). 40s 108 108 108 -34
264 214 Lorlllard (PK1.20). 2 224 224 224 + 4
151 142 Lorllard P pf (7)_ 20s 1464 1464 146%*
344 13 La Oil Ref pf (d)„_ 100s 294 29 294
774 674 LoulsA Nash (a2>. 1 664 664 664 +4
35 224 Ludlum Steel (a&tc) 8 264 25 254 + 4
42 35 MacAnd A For (])— 1 354 364 364
324 29 McCall Corp (2)..— 1 294 294 294
134 12V* McCrory Stores- 1 124 124 124—4
49*. 394 McIntyre Porcu(2). 42 444 43 434+ 4
1184 1034 McKeeap’t T P (t4>. 2 108 108 108
11%, 84 McKesson ft Rob_ 7 94 94 94
46 374 Me Reason AH pf (I). 1 424 424 424
164 114 McLellan Storea- 1 124 12 12-4
37 274 Mack Truck (16 —— 8 304 294 30V*
494 404 Macy (R HI Co (2). 1 42 41 41 -1
42 344 Magma Copper (2). 1 404 404 404 -4
174 74 Manatl Sug pf Cd>— 20a 134 134 134 -4
64 24 Maracaibo Oil Exp. 2 34 34 34 -4
10%, 84 Marine Mldld (40c). 14 9 84 8%* — V*
604 41 Marlin-Rock <t2>._. 1 434 434 43V* - S
194 114 Marshall Field ft Co 7 164 164 164 - 4
364 274 Mathleson Aik 14- 2 30 30 30 +4
634 43V* May Dept Strs (2)_ 1 464 464 464
214 134 Maytag Co- 1 164 164 164
65 49 Maytag pf ww («>„ 2 604 49%. 494 - 4
110 103 Maytag 1st pf («)._ 40s 1094 1094 1094 - 4
19 124 Mead Corp . — 4 144 134 144 + 4
744 654 Melville Shoe (6 M). 2 694 694 694 +4
104 7 Mangel Co- 4 74 74 74-4
604 404 Meets Machine (2). 8 474 464 47 +14
124 64 Miami Copper- 4 94 94 94-4
23 174 Mid Cont Pete a40o- 6 194 194 194-4
474 214 Mldl'd Stl Prod U> 8 394 384 884 -4
75 65 Minn-Honey Rtl4. 2 70 70 70 -14
10941074 Mlnn-Hon R pf (I). 40s 107 107 107 + 4
124 64 Minn Moline Pwr_ 14 94 9 94 +4
764 574 Minn Moline Pwr pf 4 684 624 624 -14
IS 4 Minn A St 1* (d)_a 2. 4 4 4 -.4
k
Prev. 1936 Stock end Sale*— net
Blth. Low. Dividend Rata. Add oo. Hleh. Low. Close.Che*.
6k 2k M St P&S SMU In. 60a 3k 3k 3k
26k 17V§ Mlaelon Corp_ 2 18k 18k 18k - k
9k 5k Mo Kans & Texas.. 5 8k 7k 8k + k
26k 14k Mo Kaos & Tex pf._ 14 2lk 20k 20k - k
74* 3k Mo Pacific pf(d)-4 4k 4k 4k
28k 20k Mohawk Carp (1)— 2 22k 22k 22k - k
103 83k Monsanto Ohem(tl) 23 83 81 81 -2k
2k 2ft Monsant rte Jnue 4 264 2k 24i 2ir — k
45k 35k Montg'y Ward aZUo. 38 42k 41k 41k - k
lk k Mother bod*- 9 lk 1 lk
37k 28k Motor Products (*). 3 30k 30k 30k - k
22k 15k Motor Wheal (1)_ 7 19k 19k 19k - k
17k Ilk Mulllna Mlg (A)_ 2 12k 12k 12k - V4
17k Ilk Mulllna Mfp <B> . 4 12k 12k 12k - k
59k 44 Murphy (G C) 1.20 1 47 47 47 - k
103 102k Murphy (GC) Co pf 1 103 103 103 +k
22k 14 Murray Corp_ 15 16k 16 16 - k
21k 16k Nash Motors O)_20 17k 17k 17k - V*
17k 12k Nat AcmaCo_ 2 14k 14 14
15k 9k Nat Aviation_ 2 10k 10H 10k
38k 31k Nat Biscuit <1.«0)„ 10 34k 34k 34k + k
30 21k Nat Cash Keg(6dc). 9 24k 23k 23k + k
25k 21 Nat Dairy P (1.30)_ 21 23k 23k 23k + k
15k 10 Nat Dept Stares__ 6 12k 12k 12V* - k
33k 27H Nat Distillers <2)__ 11 29k 29k 29k
Nat Lead (5) new.. 17 29k 28 28
14k 9k Nat Pwr&Lt(6Uc)-_ 30 10k 10k 10k - V*
75 57V* Natl Steel (lk)_ 10 60k 60 60k + k
40 19k Nat,8upply Co- 2 35 35 35
108 74k Nat Supply Co pf_ 1 97k 97k 97k — k
Ilk 8k Nat Tea (60c)_ 2 8k 8k 8k — k
13k Ilk Natomas (T80c>- 23 Ilk 11 Uk
38k 32 Nelsner Bros (D— 8 38 37k 38 + k
59V* 41 Newberry J J(1.60>. 2 44k 44k 44k
13k 9 Newport Industries 3 9k 9k 9k + H
42k 27k N Y Central R R . . 181 36 34 34k — k
35k 17k N Y Chicago & St It. 2 26k 26k 26k
63 36k N Y Chi & St L pf— 4 53k 52 53k + k
6k 4 N Y Dock. 40* 4k 4k 4k + k
2k 1 NY Investors (d)_. 2 lk lk lk f k
5k 3 NY NH 4 II (i)_ 3 3k 3k 3k - k
14k IS NT NH 4 H pf (d).. 2 8k 8k 8k
15k 9k N Y Shipbuilding_ 3 10k 10k 10k + H
73k 57k N Y Shlpbldg pf_ 110* 58 57k 58 +k
96 83 N Y Steam pf (6)_130a 91 91 91 + k
107 93k N Y Steam 1st (7).. 20a 102 102 102
108k 105 Norfolk*Wn pf (4) 10a 106k 105k 105k + Vi
10k 6k North Am Aviation. 22 8k 8 8
32k 23k North Am Co 11) .. 100 25k 25V* 25H + k
66 52k North Am Co pfCS). 2 56 56 56 -r V,
36k 24k Northern Pacific_ 34 28k 27k 27k — k
67 51V* Northwest Tel (3).. 150a 52k 52k 62k + H
4k 2 Norwalk Tlre&Rub. 2 3 3 3 ■+• k
17k 12k Ohio 011 (50c)._ 17 13k 13k 1.3k — V*
54k 24k Oliver Farm Equip. 3 50k 50 50 — H
25k 171* Omnibus Corp vtc._ 24 20k 19k 19k— V*
32k 24V* Otis Elevator (60c). 8 28k 27k 28
i.u-4 i • > wue oicci ......... 41 J.r j iff Mil
95'* 724 Otis Steel pr pf- 1 76 76 76 4 2
164 128 Owens-111 GlasafS). 8 145 1444 145 +1
174 14 Pac Am F!sn(a25e). 12 17 164 16% - 4
17 94 Pacific Coast lat_ 80s 1.1 ]2 11 +1
94 44 Pacific Coast 2d_ 00* 7 64 7 + 4
894 304 Pacific G* E (14)- 11 364 354 354 +4
564 474 Pacific Ltg <2.40)_ 4 504 504 504 + 4
19 144 Pacific Mills . 1 144 144 144
IS 64 Packard Mot (a25c) 35 11 104 104 — 4
44 14 Panhandle Pro & K. 4 24 24 24 + 4
974 67 Paraffine Co 12)_ 1 74 74 74
12 74 Paramount Picture* 23 94 84 84 — if
124 8s, Paramount 2d pf_ 4 94 94 94 — 4
54 34 Park Utah _ 2 34 31* 31,
284 23 Parker RuatPllH) 4 244 244 244 + 4
10 44 Parmelee Tranap't.. 2 74 74 74
114 74 Paths Film Corp_ 8 9 84 84 - 4
174 104 Patino Mines — 15 114 11 114— 4
73 644 Penlck & Ford (3).. 5 70 694 70 + 4
79 69 Penney 1J C) ltj)„ 2 764 76 76H -r 4
64 4 Penn Coal ft Coke._ 4 54 44 54 + 4
104 44 Penn Dixie Cement. 2 7 64 64 — 4
39 284 Penn Railroad lal). 48 304 304 304 + 4
43 30 Peoplea Drug! tl)_ 4 404 404 404 + 4
494 38 Peoplea Gas Chi _ 5 41 404 41
18 12S Pet C’p of Am a25c. 8 134 134 1.34 + 4
194 14 Pfeiffer Brew(1 20). 6 144 144 144 + 4
404 254 Phelps Dodge a50e- 3 344 344 344 + 4
34 2 Phlla ft Head Cftl._ 15 24 24 24 - 4
874 66 Phillip Morris (1).. 12 824 814 814
154 74 Phillips-Jones__ 1 84 84 84 — 4
494 384 Phillips PetroKtl). 20 424 414 414 -14
17 8 Pierce Oil pf _ 5 124 124 124
24 14 Pierce Petroleum._ 3 2 1’, 1’, — 4
374 314 Pilsbury FI (1.60).. .3 314 314 314
12 74 PlttsCoal_ 1 84 84 84 + 4
114 74 Pitts Screw & Bolt. 1 84 84 84
854 49 Pitta Steel pf .. 80s 67 65 67 4 14
3 14 Pitts Term (new)_ 3 2 2 2 +4
21 154 Pitts Term Coal pf— 40* 164 16 I64 + 4
94 3 Pitts United Corp.. 16 74 7»« 74
914 584 Pitts United pf_ 110* 724 724 724
414 21 Pitts* W Va_ 20* 31 304 304
34 14 Pittston Co_ 8 24 2 24 +4
164 114 Plymouth Oil__ 8 114 144 144 — 4
26!, 22 Pond Creek Poc(f)_ 2 22 20 20 -2
194 12 Poor * Co (B)_ 6 154 154 154 + 4
54 2Vi Pressed Stl Car (d). 2 24 24 24
36 18 Pressed Stl C pf(d). 2 23 224 224
■»« * » ivviuiuuaiii w T|/. I t 2 kin **». •_' t *4
1224 117k Proc & Gam pf (6).. 10* 118k 118k 118k - 4
48k 39 Pub Svc N J (2.40). 5 41k 404 41 + 4
1074 1034 Pub Svc N J pf (6). 1 106k 106k 106k — 4
1214 1134 Pub Svc N J pf («)_ 2 1214 1214 1214
484 364 Pullman Inc (1V4)_. 25 45 444 444
244 16k PuraOll _ 37 194 18», 184 - k
118 914 PuraOll f>% pf_ 1 96 96 96 + 4
133k 103 Pure 011 8% of .. 200a 1064 106 106 -1
17k 9k Purity Bakeries 40c 8 10k 10k 10k + k
14k 9k Radio Corp _. 161 Ilk 104 11 — 4
73k 684. Radio cu let pf 3 4. 12 73k 724 72’.— k
94 5 Radlo-Kellh-Or(d). 15 64 64 64 — 4
38k 284 Raybeatos-M (1V4)- 7 344 34 34 + 4
48k 354 Reading (2 >- 1 42 42 42 + 14
454 39 Reading 1st pf (2).. 1 44'- 44*4 444 — 4
28k 19*, Rem Rand (T60c)_ 47 214 214 21k - k
24k 22k Rem-Knd 6% pf 14. 5 244 234 244 - k
99*4 854 Rem-Rand pf (6)_ if 98 98 98 -1
84 44 Reo Motor Car__ 33 5k 54 54
26k 164 Republic Steel__ 60 194 194 19k
99 75 Republic Steel pf 3 834 82 82
95 784 Repub St pr pf A }3. 1 824 824 824 — 4
34 244 Reynolds Met 111 . 2 264 26 264 + 4
554 27 Reynolds Spring (1) 1 48 48 48 — 4
58k 50 Reynolds Tob B IS) 11 534 534 534 + 4
354 30 Safeway Stores (2). 1 31 31 31+4
112 109 Safeway Strs pf (6). 20* 1104 1104 1104
1144 111 Safeway Strs of (7). 40s 113 112*- 1124
294 224 St Joseph IA (40c). 7 234 234 234
3k 14 St L-San Fran (d)_ 3 2k 24 2k + 4
6k 2k St LrSan Fr pf (d)„ , 1 4 4 4 — k
52 38k Schenley Distillers. 21 444 434 43k — k
lOlv, 974 Schenley Dpt (54) 1 100k 100k 100*. - 4
4k 24 Schulte Retail Strs. 11 24 2k 2k— k
204 1 lk Schulte R Strs of... 2 124 124 124 + 4
76 534 Scott Paper (1.80) 60s 644 64 64 -1
2 lk Scott P rtS-.June 4 930* l7, 14 14 — Vi
14 4 Seaboard Air U td). 6 4 4 k
43k 32V, Seab'd Oil(Del) (1). 2 33k 334 334 -4
694 59-4 Sears Roebuck (2). 83 68*. 66 674 +14
4k 34 Second Natl Invest. 1 34 34 34 — V,
73 614 Sec N Inv pf J1.55.. 70s 634 634 634 +4
224 15k Servel Inc (60c)_ 60 204 20k 204 + 4
8k 44 Sharp* DOhme ... 1 64 64 64
16k 114Shattuck FO (50c). 2 14 14 14
34 304 Sheaffer Pen (2)_ 10s 314 31k 31k + 4
194 14k Shell Union OU_ 29 174 174 174 +4
144 94 Silver King (40c)— ^ 11 10k 11
324 194 Simmons Co_ 10 27k 264 27
64 44 Simms Petrol__ 3 54 54 54
414 194 Skelly Oil _ 7 254 25 25k + k
132 112 Skelly Oil pf (6)_ 1 1224 1224 1224 + 4
95 654 Sloss-Shel SU pf__ 20s 904 904 904 + k
72 42 Smith (AO)_- 1 45 45 45 -14
284 224 Snider Packing_ 6 24 24 24 - k
17 124 Socony-V 011 (40c). 60 13 124 13
74 44 So Am Gold & P 8O0. 11 54 5 5 -4
34k 26 So Porto K Sug (2). 3 284 28k 28k
28k 25 South Cal Bd (1H >- 31 26k 26k 26k — k
Pre». t038 Stock end Sales— Net
Jlgh. Low Dividend Rate. Add 00. Huh. Low. Close.Chge.
38% 23% Southern Pacino... 60 32* 31% 31% - %
20% 12% Southern Railway.. 19 15% 14% 14% — %
32% 19 Southern Ry pt_ 17 24% 23 23 - %
78 64% Spalding! AUllat pt 30s 66% 66% 66%+%
9% 5% Sparks- Wlthlngton. 24 6% 6% 6% — %
23% 15% Sperry V&C lb26c). 24 18% 17% 17%-%
53% 44 Spicer Mfg Dt <330s 49% 49% 49% - % 1
77% 63 Splegel-May-S (3)- 2 69% 69 69
31% 21% Square D Co (B)_ 1 23 23 23 -1%
18 14% Stand BrsndsikOc). 25 15% 15% 15%-%
13% 10 Stand Com Tobacco 2 10% 10% 10%
9% 5% Stand Gas & E) Id). 33 7 6% 6%
17% 9% Stand G&E >4 pf (d) 21 13% 12% 12% - %
36% 24% Stand G&E 36 pfld) 4 30'% 30 30 +%
39% 26% 8tapd G&E 37 pfld) 26 33% 32 32%+%
47% 37 Stand Oof Ca) <tl). 31 38% 37% 37%-%
113% 111% Stand Oil Exppf<5> 2 112*4 112% 112% - %
40% 32% Stand Oil of Ind(tl) 10 35 34% 34%-%
70 61% Stand Oil of N J Itl 90 61 60 % 60% - %
71% 65 Sterling Prod 13 30) 3 69 69 69 + % j
63% 48% Sterl Sec lstpf (te) 1 48 48 48 -%
24% 16% Stewart Warni&Oc) 9 19% 19 19% + '* I
21% 14% Stone & Webster_ 71 18% 17 17 -%j
14% 9% StudebakerCorp_ 32 11% 11% 11% -%|
6% 3 Superior Oil....... 14 4% 4% 4% — %
14% 9% Superior Steel-— 2 11 11 11 — %'
29% 23 Sutherl'd Paper tl.. 3 27 26% 27 + %
9% 6% Sweets Co of Am__ 3 8% 7% 8% + %
25 20% Swift & Co (11_ 18 22 21% 21% - %
35% 28% Swift Inti Ltd (2)._ 3 30 29% 29% - %
2% 1% Symington (d)- 1 1% 1% 1%
11% 5% Symington A <d).._ 1 8% 8% 8%
10% 6% Tennessee Corp__ 20 8 7% 7% — %
39% 28’% Texas Corp UK_ 22 34% 33% 33% - %
38% 33 Texas Gulf Sul (2). 9 36% 36% 36%+ %
42 28 Texas & Pac U R._. 3 38 37 37 +1
15% 7% Tex Pac Coal & Oil-. 10 10* 10% 10%-%
14% 9% Tex Pac Land Trust 4 10 9% 9% — *« j
44 33% Thatcher U)_ 2 35% 35*. 35%+1%
12% 8%ThermoldCo_ 4 9% 9% 9% — %
32% 24% Thompson Pa30e._ 3 28 28 28 + %
8% 4% Thompson Starrelt. 8 6% 5% 5%
19% 14% Tide Wat Asso 60c- 9 16% 16% 16%
106% 100% Tide Wat A O pf 16). 3 104% 104* 104% - %
60 52 Tide Water Oil (2).. 10* 55 55 55
17% 12% Timken-Detrolt_ 15 16% 15% 16% + %
72% 56 Timken R B <t2>... 13 62% 61% 62 - %
14% 11 Transamerlca a30e. 28 12*. 12% 12% -r %
27% 14% Trans & Westn Air. 5 21V* 20% 20%-%
16% 10% Transue&WUltams. 1 10% 10% 10%+%;
12 7% Trl-Contl Corp_ 6 8% 8% 8%
107% 93 Trl-Contl C pf <«).. 1 103% 103% 103%
7 4% Truax-Trs Coal_ 13 5% 5% 5% + % ;
32% 22% 20th Cent Fox Film 2 24% 2i% 34% — %
41 31% 20th Cen Fox pf 1%. 4 34% 34% 34%
12% 9% Twin City KT_ 1 9% 9% 9% - %
83 65V* Twin City R T pf_ 40* 69 68% 68%-%:
8% 4% Ulen & Co _ 1 5 5 5 — *«
»s» e.i lna-EiiJ-r jsn uj_ 1 fn1, *t>v, -rf,
133 125% Und-EU-FIsh pi (7) 280s 127% 127 12?
62% 40% Union Bag&Pap 12) 7 40% 40 40 - %
88% 71% Un Carb St Co t2)— 24 83 82% 82%—”.
28', 20% Union Oil of Cal (1) 8 23% 28% 23%—%
138% 108% Union Pacific (6)-.. 2 125% 125% 125%
97+* 90% Union Pacific pi <4 1 98% 96% 96%
31% 22% Un Tank Car (1.20). 7 24”. 24% 24%-%
32% 20% United Aircraft_ 41 23% 22”. 22% — %
21 13 United Air Dines vtt 11 17% 16% 16% — %
28% 24% United Blso (1.601 . 4 26% 26% 26”.— %
79% 68 United Carbon 2.40. 7 77 76% 76’, -r %
9% 5% United Corp_ 172 6% 6% 6%
47% 40% United Corp pf<*>_ 6 43% 42% 43% + %
16% 10% United Drug - _ 10 13". 13 13 -%
25% 15 United Dywood (al) 2 23 23 23 % %
7% 4% United dec Coal .. 36 6% 6% 5% t %
35% 34% Unit Eng & Kill*-. 1 34% 34% 34%-%
79 66% United Fruit (3)_ 16 76% 75% 76% tl
19% 14% United Gas Imp (1) 34 15% 15% 15% — %
19% 10 U S Distributing pf. 80s 13% 12% 13% — %
20 13 u S & FoPn Secur.. 4 15% 14 4 15%
39% 25% U S Freight (1 >_ 4 26 26 26 - %
110% 80% U S Gypsum i2)_ 9 88 8i 81*4 t %
14% 8% U S Hoffman_ 1 11*. 11% ll«-%
59 39 U S Ind Alcohol (2). 63 46 . 45 45 -2
18% 11% U S Deatheri A)vtc. 1 12”. 12”. 12”.-%
38% 21% US Pipe* F (Hi).. 11 37% 36% 36%-%
& 4 U S PAtFrts Alay 21. 189 44 ft % + ft
13 7”. U h Keally 4c Imp.. 11 8% 8”. 8%
35 16% U S Rubber_ 104 31% 29% 30 -%
80% 47 U S Rubber 1st pf .. 31 75% 72% 72', -2%
96% 84% U S SmeltScRef <a«) 5 93 91!, 91!,- %
75% 68!, U S Sm&R pf (3%). 4 74% 74 74% +1%
72% 46% U S Steel...-_ 277 59”. 57% 57% - %
132% 115'-, U S Steel pf (2)_ 7 121% 120% 120% - %
143% 131 U S Tobacco (t5)_ 1 136 136 136 -r %
7% 5 United Stores < A) - 4 5% 5% 5%
80 67+4 United Stores pf J3. 1 72% 72% 72% +2%
69% 57% Umv Leat i'ob (2>. 2 60 59% 59% — % .
115 50 Umv Pic 1st pf_ 10s 92 93 92 -3
3% 1% Unlv Plpe&Rad (d). 1 ]% 1% l%-r%
22% 13% Umv P*R pf (d)_ 20s 15% 15% 15% -r %
7 0% Util Pwr & Dt 1A)„ 60 5% 5 5 - %
2% 1% Vadsco Sales Corp.. 6 .1% 1% 1%
27Vs 16% Vanadium Corp_ 7 18% 18 18!, — % i
36% 28*4 Van Haalte <1)_ 17 37% 37 37 + %
8% 4% Va-Car Chemical_ 20 6 5% 6% -r %
48% 32 Va-Car Chem 6* pf 4 37% 36% 37% -r V,
114% 109 Va El & Pwr pf 161. 10s 114% 114% 114%
9”. 4 V'a Iron Coal&Coke 150s 6 4% 6 %1%
30!, 14 ValronCitCpt_ 50s 21 20 20 ■+1
84% 30 Walgreen Co < (2).. 1 31% 31% 31% 1- %
118 115% Walgreen pf <6 VA >10s 116”. 116”. 116% - %
34% 26% Walker (H) (2)_ 9 30 29% 29% — %
10 5% W alworth Co_ 3 7% 7 7
70 47% Ward Baking pf (3). 1 6o 60 60 — %
14% 9% Warner Bros Pic_ 26 10 9% 9% — %
2% 1'. Warner-Uuin td)_ 4 1% 1!, 1%
iw 4 *• » Diua ...... a*» 3 4 r* g o ‘4
25*. 154 Warren Eros cv pf.. 2 214 21 214+ 7«
284 21 Warren FdryAPU). 1 224 224 224 — 4
114 64 Webster Eiseniohr. 1 "4 74 74 + 4
464 344 Wesson UAS( t&Oc). 1 37 37 37 -4-1
82*. 78 Wesson 0(18 pf (4). 3 804 80 80S. t 4
1004 914 West Pa Elec (7)A_ 70s 984 984 984 -4
984 87 West Pa Elec pf(6) 20s 94 94 94
110 96 Wsst Pa Elec pf (7» 30s 1024 102 102
116 1114 West Pa Pwr pf(6) 10s 1134 1134 1134
121 1164 Weat Pa Pwr pfl7). 150s 119 118*. 118*. — 4
124 84 Western Maryland. 15 94 8*. 8*. — 4
4 2 Western Pacific__ 2 2 2 2
94 54 Western Pacific pf. 2 6 54 54 — 4
95 724 West Union ta2)__. 42 81 784 784 —1*4
484 344 Westghse A B Cl). 5 394 38 384 —4
1224 944 Westlngh se El (3). 26 1144 112 112 -It.
1454 1234 West'gr'se 1st of 3 4 20s 138 138 138
39 364 Weston Elec (2) A 40s 37*. 374 374 — 4
284 21 Westvaco Ohio HOc 2 224 224 224 — 4
374 234 Wheeling Steel_ 2 284 28 28
284 184 While Motor. 46 244 23 4 234
174 144 White HU M SCI.40) 2 144 144 14V. — 4
54 34 White Sewing Men. 1 4 4 4 —4
54 24 Wilcox Oil A Gas... 15 44 44 44 — 4}
11 74. Wilson A Co l6uc)_ 12 84 84 84 — 4 j
87 714 Wilson A Go pf t6)_ l 754 754 754
564 44*. Woolworth (2.40).. 35 504 49*. 494 — 4
354 234 Worthington Pump 2 274 274 274 +1
75 56 Worth Pump pftA) 330s 64 624 63
66 47 Worth Pump pf(B). 2 55 544 55 + 4
106 624 Wright Aero_ 10* 704 704 704 - 24
79 66 Wrigley W jr (t3>— 1 67 67 67
204 84 Yellow Truck__ 85 184 174 174 — 4!
138 834 Yellow Truck pf_ 30s 131 131 131 +2 I
55 444 Young Sp A W (3).. 3 484 484 484 —4
614 414 Ygstwn Sh&T t4 4». 28 54*. 524 53 — 4
116 105 Y’gt’n SAT pf T2*„ 1113 113 113 +1
194 114 Zenith Radio_ 39 194 184 184 -4
94 54 Zonite Products_ 17 7 7
Approximate Sales of Stocks on the N. I. Stock Exchange.
11:00 A.M- 160.000 12:00 Noon_ 290.000
1:00 P.M- 380.000 2:00 P.M_ 470.000
Total Sales for the day 990.000
Dividend rates as aiven In the shove table are the annual
cash payment based 00 the iateat quarterly or half-yearly decla
rations
s Unit of trading less than 100 shares tAnnual rate—not
Including extras. tAccumulated d!v:dends a Pa:d thia year,
b Paid last year, d Companiea reported in receivership or oemg
reorganized x Ex-dividend
NEW YORK BANK STOCKS
MOVE DOWN IN WEEK
Special Dispatcn to The Star
NEW YORK, May 18.—New York
City bank stocks declined to lower
levels during the last week, according
to records compiled by Hoit, Rose Sc
Troster.
The aggregate market value of 16
leading issues on May 15 totaled
$1,644,082,000. compared with $1,663,
512,000 at the close of the previous
week, a decrease of $19,431,000, or
1.17 per cent.
The current average yield of the
16 issues of 3.93 per cent compares
with a yield of 3.88 per cent on May
8. The current market value is now
1.33 times the known book value.
Rail Chief Renamed.
NEW YORK, May 18 M5).—H. E.
McGee was re-elected president of
Green Bay & Western Railroad Co.
and of its subsidiaries, Ahnapee &
Western Railway Co. and Kewaunee,
Green Bay & Western Railroad Co.,
at a meeting of directors today. Other
offlcers also were re-elected.
LARGE GAIN FORECAST.
NEW YORK, May 18 OP).—An in
crease of 15 per cent over 1935 in the
dollar volume of sales of material for
repairs and new construction in pri
vate building operations is forecast by
distributors of builders’ supplies in 42
States, it was revealed by a survey is
sued by the Rubberoid Co., manufac
turers of asbestos building and roofing
products. *
Gold Currencies
Drift Downward
In Quiet Dealings
By the Associated Press.
Gold bloc currencies drifted a trifle
lower in terms of the dollar in today's
quiet foreign exchange markets.
In New York the French franc
yielded .00?, of a cent to 6.58?i cents,
or slightly above its gold export point;
Holland guilders were .02 of a cent
lower, at 67.59 cents, and Swiss francs
lost .02 of a cent at 32.35 cents. The
British pound sterling advanced Vi
of a cent to $4.97.
In London moderate speculative of
ferings of gold currencies brought
slightly lower rates in mo6t units.
The franc closed at 75.44 to the
pound* as against Saturday's rate of
75.35. The dollar was also lower at
4.9615-16, compared with Saturday’*
rate of 4.96 Vi.
In Paris the dollar was in moderate
demand at 6.586 cents to the franc,
compared with Saturday’s close of
6.591 cents.
Lowering of the discount rate by
the Bank of Italy from 5 to 4 Vi per
cent waa ignored by the officially con
trolled lira, which held unchanged at
7.85 cents.
PARIS. May 18 UP).—'Three per
cent rentes, 69 francs, 80 centimes;
4Vi per cent rentes. 75.00.
Exchange on London. 75.48. The
dollar was quoted at 15.18V4
FIDELITY AND FIDEL
SET NEW HIGH MARKS
Special Dispatch to The Star
NEW YORK, May 18.—The Fidelity !
Investment Association, Wheeling, i
W. Va., and Fidel Association of New ;
York, Inc., report that April. 1936. |
was the best April since 1931 and the
best month since March, 1932.
New business placed on the books
totaled $2,024,300, compared with
$1,162,420 in April, 1935, an increase
of $861,880, or 74.1 per cent. For the
first four months of 1936 new busi
ness amounted to $7,090,900. against
$5,456,170, a gain of $1,634,730, or
29.9 per cent.
The month of April represented the
twenty-fifth anniversary of the as
sociation, which was founded in
Wheeling in 1911 by the late Joseph
F. Pauli.
BAYUK BOARD DELAYS
OFFERING OF COMMON
dy the Associated Press.
NEW YORK, May 18—The New
York Stock Exchange has received
notice from Bayuk Cigars. Inc., that
the directors of the company have
decided not to make, until further
notice, the offering of additional
comipon stock to stockholders, re
ferred to in a previous listing ap
plication. This does not affect the
proposed four-for-one stock split-up,
it was stated.
Federal Light & Traction Co.—
March quarter common shares earn
infs were 82 cents vs. 64 cents.
E
Slip Back to Close Unevenly
After Sharp Rally on
Guffey Decision.
Stock Averages
30 15 15 fin
Indus. Rail*. Util. Stk?
Net change. —.6 —.3 —.2 —.5
Today, close. 81.2 33.7 45.4 60.3
Prev. day... 81.8 34.0 45.6 60.8
Month ago.. 81.3 35.3 47.2 61.3 *
Year ago_ 58.3 21.9 28.5 41.8
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 56 1
1935 low_ 49.5 18 5 21.6 34 8
1932 low_ 17.5 8.7 23.9 16 9
1929 high... 146.9 153.9 184.3 157.7
1927 low_ 51.6 95.3 61.8 61.8
(Compiled by the Associated Press >
BY VICTOR EUBANK.
Associated Press Financial Writer.
NEW YORK. May 18.—Stocks
leaped ahead 1 to around 4 point? in
today’s market, following the Supreme
Court's finding of the Guffey act un
constitutional. but failed to hold
The sharp forward thrust lasted
only a brief period, during which the
ticker tape was some 4 minutes be
hind floor transactions. Then prices
began to retrace their upturn. The
close was irregular. Transfers were
around 900,000 shares.
Brokerage observers were a bit dis
appointed over the failure of the list
to continue the push with more*
vigor. Quick profit takinc was said
to have been based on the desire of
traders to make a closer study of the
court's ruling.
On the constructive side of *':.•
market's ledger was the America.-.
Iron and Steel Institutes eaursat*
placing current mill steel opera:.- .5
up 0 3 of a percentage pom: —t
preceaing week.
Bonds emulated stocks arA -r~ -
modities were mixed Fore.im - - i
currencies were lower ir. terms ■/.
dollar.
Shares emerging steady ’os p» •:
or more higher included Dome M -
Intyre Porcupine, Columbia Gas Ctr *
solidated Edison. Electric Power fz
Light. Sears-Roebuck. New Yore
Central. Santa Fe. Johns-Mur.
Columbian Carbon and American
Can.
Unchanged to down a po:nt cr f>
were United States Industrial Alcohol,
American Telephone. United States
Steel. Bethlehem, General Motors,
Du Pent and American Crystal Sugar,
CHICAGO GRAIN *
By tlu Associated Press.
CHICAGO May 18—Helped by a
liberal decrease of the United States
visible supply, wheat values rallied at
the last today, virtually overcoming
earlier losses.
A curtailment of 3.080.000 bushels
in the domestic stocks of wheat was
reported. This compared with 2.940 -
000 bushels decrease the week previous
and 2.835,000 decrease a year ago.
Wheat closed irregular, a* off to '* •
up, compared with Saturday's finish.
May, 93rsa93 ii July, SS^aSS^; corn
at ■ * decline to \ advance, May, 63',a
64; oats varying from setback to !*
gain, and provisions unchanged to a
loss of 2 cents.
WHEAT— Open Hieh. Low Close
May _ :> ,J, .!i.i5«-3«
JUiV __ .84 8 k.-,34 >4-', ,-lj
Sep . >438 .So14 .8414 .80-80: •
CORN—
May _ .fill's .64 .63 HU's-OJ
July 6<l», Pn3, 8* *',
Sen _ - 08's .08'4 .5-'a-'a
OATS—
May _ 2,V« -'o’4 24T» •-’o'4
Juiy -.26 .26 2V_
Sep --- . J' 4 .26*2 .26'* 2t:3g-.a
RYE —
May __ . .55'a .55’* ,55'b 55si
July M'j . 5 .53 s >4'r .55'«
Sen 55', .50 .55', .5514
• BARLEY— |
May _ _ . .... _ _ .37 ,
July . _ _ _ i
LARD—
May_10.25 In 27 lo.1T 10 20
Julv _lit.IT 10,20 10.13 10.13 |
Sep._ 10.22 10.27 10.22 10.22
Oct . . 10.05 10.05 8.02 10.UO t
BELLIES—
May_ _ _ _ 12.50
July- - - - 12 12 ’
Chicago Cash Market.
Cash wheat, No. 3 hard, 9712; No. 4
hard. 94; corn. No. 2 mixed, 65>2a65:i4;
No. 4 mixed. 63'it No. 2 yellow,*
65r,4a66; No. 3 yellow. 65: No. 4 yel
low, 6311 a64; No. 5 yellow. 611 ^a621 ^
No. 2 white. 691 -: No. 3 white. 68a
68’2i No. 4 white, 67; No. 5 white,
60a65!4; sample grade. 38a60'2.
Oats1, sample grade seed. 22'z'- No. 2
white, 2912; No. 3 white. 25a27’2i
No. 4 white. 24'2a25; sample grade,
22a24'4. No rye; no buckwheat.
Soybean, sample, yellow. 70. Barley,
actual sales, 5.783; feed. 30a48. nomi
nal: malting. 45a92. nominal. Timothy
seed, per c.w.t.. 2.75a3.00; clover seed,
pier c.w.t., 12.00a22.50.
Liverpool drain Price*
LIVERPOOL. May 18 <48.—Wheat
futures closed easy.
Prev.
High Low Close Closg,
May _8S'4 SS'2 sk34 SO
July _ S!1 8S3g SS', SO
October _ SS'2 ST 8T SS'.a
Exchange. 4.96*,
Baltimore Quotation*.
BALTIMORE May IS (>PV—Wheat No.
2 red Winter, garlicky, spot domestic*
1.02. May. 1.02.
NEW YORK COTTON
By the Associated Press.
NEW YORK. May 18—After a
fairly active opening cotton bream#
quiet and featureless and fluctuations
were somewhat irregular within a nar
row' range.
Scattered realizing and hedging was
well enough taken to maintain a gen
erally steady undertone, however, with
the mid-afternoon market net un
changed to 6 points higher with
October selling around 10.50.
Futures closed steady, unchanged to 4
higher.
High Low Close.
May _11.64 11.62 11
July - 11.43 11.37 114"
October _ 10.52 10.47 10.40-50
December_10.50 10.4.1 10.46-47
January _ 10.48 10 42 in 4tin
March -10.51 10.45 10 13-41
Spot steady, middling. 11.72.
n—Nominal.
Cottonseed Oil.
Bleachable cottonseed oil futures
closed steady. July. 8.94a8.95; Sep
tempber. 8.92; October 8.74. Sales,
48 contracts including 2 switches.
New Orleans Prices.
NEW ORLEANS. May 18 i/P..—Cotton
futures closed steady at net advances oi
3 to 6 points.
Open. High Low. Close.
May - 11.56 11.63 11.56 11.63
July - 11 30 11.34 11.30 11.34
October_ 10.43 10.47 10 42 10 44
December_ 10.44 10 45 10.41 1" 42
January in.44 10.44 10.43 10 4 .
March- 10.45 10.45 10.43 10 40#
b—Bid
Liverpool Quotation*.
LIVERPOOL. May 18 UPi.—Cotton
l.ooo bales. American nil. spot good busi
ness done; prices unchanged; quotations
In pence: American strict good middling.
7.28; good middling. 6.88; strict middling.
6.78: middling. 6.58: strict low middling.
6.28: low middling. 6.03: strict good
ordinary. 5.83; good ordinary. 6.53 Fu
tures closed quiet May. 6.22: July 6.05;
October 5.72: December. 6.63; January.
5.62: March. 5.62.
RUBBER FUTURES.
NEW YORK. May 18 dpi.—Crude rubber
futures opened easy 10 to 11 lower Mar
Unquoted, July. 15.72; September. 13.80#

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About Evening star. [volume] (Washington, D.C.) 1854-1972