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Evening star. [volume] (Washington, D.C.) 1854-1972, May 28, 1936, Image 21

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn83045462/1936-05-28/ed-1/seq-21/

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' OFFERINGS HEAVY.
CURB PRICES DROP
Metal Issues Get Special
Support—Losses Kept to
Small Fractions.
By the Associated Press.
NEW YORK. May 28 — In moet
sections of the Curb list today offer
ings more than counterbalanced buy
ing activities and prices drifted down
ward.
Metal issues appeared to receive
special support and made some prog
ress. Pew stocks showed actual weak
ness and losses generally were confined
to small fractions.
American Gas & Electric, Electric
Bond & Share, Humble Oil, Niagara
Hudson Power, Penn Road and Inter
national Petroleum were among those
slightly on the minus side. Montgom
ery Ward A showed a 1-point loss in
the late trading.
. BONDS ON THE
CURB MARKET.
DOMESTIC BONDS.
High. Dow. 1 p m.
Alabam Pw 4%s '67_ 02■» 82% 82%
Alabama Pow 5s 46- 104% 104!* 104%
Aiaoama Pow os '68_ 88% 88% 88%
ruummm Ltd 5s '48 105 105 lOo
Am Cm Pw 5%s mat '53 8% 8% 812
Amer G&E 5s 2028 108 108 108
/imer P At L 6s 2016— 88 9V% 87%
Am Rad 4%s '47 —- 103% 103% 103%
Appalch Pow os '56_106% 106% 106%
Araans P & L 5s '56 _ loo% 100% 100%
Asso El Ind 4 2S '53 — 50% 08% 08%
Asso G&E 4%s '48 C— 38% 37 37
Asso G & E os '50- 41% 38% 40
Asso G & E 5s '68_ 40% 39 39%
A G&E 5 %s '38 in cl- 52% 52 52
Asso G&E 5%s '77- 43% 4.1% 43%
Asso Rayon 5s '50- 86 80 8b
Bald Lo 6S '38 WW- 86% 86% 80%
Balon Lo 6s '38 tw — 80% 84% 85%
Bel Tel Can 5s A o5—lto% 115 llo
Bel Tel Can 6s B '57-— 120% 120% 120%
Bmgh LH&P os '46— 106% 106% 106%
Brmngm El 4%s '68_ 90% 90% 90%
Broad R P 5s A '64— 99% 99% 99%
Carolina P&L os '56_— 101 100% loo%
Cn I PS PL os E ’56 —_ 103 103 103
Cent 111 PS 4%s P '67__ 100 99% loo
Cent 111 PS 5s G '68 — 102s* 102% 102%
Cen 111 PS 4'/S H '81 98% 99% 99%
Cent O L&P 5s A '50 loo 100 100
Cent Pw & Lt 5s '56- 89 88% 88%
Cent Sta Elec 5s '48_ 67% 67 67%
Cn St El 6%s C '54— 69% 68% 68%
Cnt St P&L 5%s '53- 70 69% 70
Chi Pneu T 5%s '42-102% 102% 102%
Chi Ry os ctts 27 cod— 74 74 74
Cities Bervice 5s '50_78% 78 78%
Cit Srv Gas 5%S '42— 101% 101% 101%
Cit Srv Pw 5%s '52—_ 73% 73% 73%
Com Edis os B '54-111% 111% 111%
Com Ed 4125 C '56-112% 112% 112%
Com Ed 4%s D '57_111% 111% 111 1
com Edis 4s F '81-107% 107% 107%
Comnty P & L 5s '57 — 69% 69% 69%
Cont G & E 5s A '58.— 91% 91% 91%
Dallas PL 6s A '49- 107 107 1U7,
Det C Gas 68 A '47— 106% 106% 106%
Det C Gas os B 50- 106% 105% 105%
Det In Brd 6%s '52 cod 4% 4% 4%
. Elec P & L 5s A 2030— 89% 89V. 89%
El Paso N G bias '38- 108 107 107
Emp Dist El os '52_101% 101% 101%
bmp O & R 5Vjs '42_ 85% 80% 85%
Fairbnks Mor 5s '42— 102 102 102
Federal Wt 5%s '54— 85% 84% 84%
Florida P&L 5S '64. 94, 93% 94
Gary E & G 5s '44 st xw 95% 95% 95%
Gatmeau Pow 5s '56— 97% 97% 9.%
Gatineau P 6> B '41 — 90 90 90
Gen Pub Se: 5s '53 — 100% 100% 10O%
Gen Pb Ut ti%s A '56 87% 87; 81
Georgia Pow 5s '67 — 99% 38 « 99 4
Glen Aiden C 4s 05— 88% 88% 88%
Hall Ptg 6s A 47 st-- 89% 88% 88%
Ho G G 6%s '43 ww... 99% 99}, 99}4
, Hyde PW N F 5s '50— 112% 112% 11.%
* Hy grade Fd 6s A '49— 69% 69 6?’'»
1.1 Pw & L 6S A ’53 -- llo 104% ion,
111 Pw & L 5s C 5t>-- 90 • 093* 09 a
Ind El 6%s B .53- 1001* 1«!i% 18U '*
Ind Gas 5s A '52- 5? 89 89
Ind H E 5s A '58. —- »n% ?o 9o%
int Pow 5c 6%s 00 C j>9 o' "01,
Intern Sc Am os 4 99.2 v?'2
Intersta Pow 5s ’57— *o3» <4*
Intersta Pow 6s ’52- <0, ‘2,, At!,.
inter r a os u JA, Li A fi.»i ;
interst P S 4%s o8 r_ 8-,2 8- iS^vi
Iowa-N LP 5s *57 4— 105* 105* 1 5*
J0ers‘cW4- s5C •Oli: 105* 105* 105*
T.rc Cn P&L 5s B '47_ 105 104% 10o
KentS&U 5jHf'6lI:- ,?4*
t ehieh P S '*5 2028 111% 11174 ill74
Libby McNAL os |42- 104* 104* 104 ,
- AlaLnd5s sv 4j-::uw 4ioo i^
Mass Gas 5*5 '4H - 105* 1«5* 105*
WWWJfc: f* 8f*
?I!S2 ^^‘^2 ::::! ki<%vi |*
M ss Pw & Lt_os%7— 4% * t,«
Miss Riv Pw 5s ol
Mo Pb Sv :>s _A *47 — 05% «5% «6%
Nuragansctt os B o<__ 102% 10
& p&w§}o:z n:* ;• iii*
Neb pw 108* 108* iof*
NckaEngCGAE 5s '4?::; 65* 64* 65*
New Eng G&E 5s '48-65* 6o 6o
New Eng GAE 5s *0— bg* 6o* «g*
New Eng Pow os 48-06 9o* 06
New Eng P 5*s '54— 98* 08* Og*
New Orl Rs A 40 _ 70 78* 78*
N Y P A L 4>’s '67_ 106* 106* 106*
N Y St EG 4 1 as 'SO-103* 103 103
Niae P P 6s '50 AA_lno* 106* 106*
N Am LAP 5*5 ’50... 05 9n ?o
N Con U 5*-s A 48_58 .->8, oS
* Nor Ind PS 5s C '66_ 104* 104'« 104*
Nor Ind PS 5s D '69... 104* 104* 04*
No In PS 4*8 E -70... 102* 1«2* 12*
No Stat P 5*s 40_104 104 .104
Northw P 6s A '60.- 66* 66* 66*
Ogden G 5s 4.,_ -10,'. 10,'« 10,
Ohio Po 4*s D '56._. 104* 104* 104*
Okla G A £ 5s aU- 104* 104* 104*
Osweeo Kalis 6s *4J- 99 99 99
Pac Pw & L 5s '55_ 8.V. Ho 8n
Pa C PAL 4' .s 77.— 10.! , 103 103
Penn Elec 4s '7 l P_100* loo* loft*
Pen O E 5*S B '59_103 103 103
Pen O E 6s SO A-- 105* 10o* lOo*
Penn Power 5s '56-10H* 106* 106*
Penn P S 5s D '54_ 106 106 loo
PeoD G L 4S B '81-»6* 96 96,,
. Peop G LAC fis 57._10o* 105* 105*
Phifa R Tr 6s '62_ 93* 93* 93*
Pied N R al A ’54 . 105*105* 105*
Portld G C 5s '40 - 71 69* 61
Pow Sec Corn 6s '49 _ 99* 99* 99*
Pub Ser 5*s A ’49 102* 102'. 102*
Pub Sec N J 6s ctl _ 144* 144 V. 144*
P S N 111 5s '5f> _. 110*110* 110*
p S N 111 4*S P '81 - 103* 103* 103*
Fg S PAL 5*s A '49 93* 93* 93*
Pg S P & L 4*S '50 D. . 85 85 85
Roch Cn P 6s A '58 86* 86* 86*
San An P S 5s B '58 104* 104* 104s.
S E P & L 6s A 2025 _ 107* 106* 106*
Sou Calif Ed 3*5 '60__ 105 104*105
So Cal E 3“is B '00 105 104* 104*
South N G 6s '44 103 103 103,
Std G&E 6s cv mat '35$ 77* 77* <7*
Std G&E ev 6s cod '35$ 75* 75* <5*
Stand G & E 6s '51 — 73* 73 73*
Stand G A E 65 '66 _ 73* 73 73
Stand P A L fis '57... 70* 70 70*
Texas Elect 5s '60... 102V. 102* 102V.
1 Texas Gas Us 6s '45— 31* 31* 31*
Tex P & L 5s ’56_ 105*105* 105*
Tex P&L 6s A 2022... 109* 109* 109*
Tide W Pw 5s A '79- 100* 100* 1 no*
Toledo Ed 5s '62 ... 107 107 107
Twin CR 5*5 A '52-— 81* 81* 81*
Uien Co Hs '44 st -_. 59* 58* 58*
Unit L & P 5*s 59 ._ 104* 104* 104*
Unit L & P fis '75 __ 88V. 87* 88*
Unit L & P fi*s '74 ... 91 90* 91
Un L A R 5*8 '52,.. 92* 91 91*
Un L & Ry 6s A '52— 112* 112* 112*
Un L & R fis A '73-.- 85V. 85V. 85*
U S Rub 6*5 /40 ... 104* 104* 104*
Utah P&L 4'is '44_ 97* 97* 97*
Utsh PL tis A 2022 .. 09* 99* 99'.
V» P Strv 5s B ’50 95 95 96
Wash Gas L 5s ’58 107 107 107
West New De 6s 44 ... 59* 59*. 69*
West Penn 5s 2030... 102* 162* 102*
West Pa Trac 5s ’60 __ 107 107 107
Wes Tex U 5s A ’57_ 92% 92% 92%
W u GE 5%s A *55 105% 105% 105%
Wise P&L 5s E 50 __ 103% 103% 103%
WS P 8er A Os ’52... 105% 105% 105%
EOKEIUN BONOS.
Burn A P 7Vis 47 St . _ B» 03 03
Cauca Valley 7s '48 ilVi H'« »■/»
Cen B Ger 0s A 52-- 28'a 28V» 28Va
Cen Bk Co 0S B '51._ 28’s 28Vi 28*4
City Lima H'is '58_. ltl>/« 10V4 IOV4
Cuban Tel 7s A '41—100 100 100
Eu E Cp 6'4s '65 — 104'4 104y« 104'4
Ger Con Mun 6s '47._ 20 20 20
Gua W R R 0a A '58 - 61 Vi 51V. 61 Vi
Russ 5*2S '21 mat .. IV, lVi i>„
Russian Vis 10 mat.. l'« 11« 1 '■
Term 8o 6Va* A '55.. 85'4 55'a 65'4
Unit Indus 6V2S '41— 25'.i 25’4 26!4
i ww—With warrants.
tw—Without warrants, n—New.
wl—When issued
st (stpl—Stamped. ,
£Negotiability Impaired by maturity.
tCompanles reported In receivership.
$5,000,000 TO BE BID.
NEW YORK, May 28 OP).—Public
Service Corp. of New Jersey, in a let
ter to the Protective Committee 'for
National Public Service Co. 5 per cent
debentures, says it will tender a bid
of *5,000,000 for Jersey Central Power
& Light Co. common stock if the com
mittee decides to offer it at public
auction. National Public Service, a
former Insull holding company, holds
as its major remaining asset controll
ing shares in the Jersey Central
Power concern.
CALL MONEY STEADY.
NEW YORK. May 28 iA5.—Call money
steady: 1 per cent all day: prime commer
cial paper per cent: time loans steady:
60 days to 6 months. IV4 per cent offered:
bankers' acceptances unchanged: redis
count rate. New York Reserve Bank. 1 Vi
per cent.
'Girls Head Tractor Brigades.
Girls are heading new tractor bri
gades in Soviet Russia. I
NEW YORK CURB MARKET QTDFWRTH SHOWN
By private wire direct to The Iter.
Stock tno Seif
Dividend Rate Add 00. Hlsh. U>w. Ctote
Acme W vtc <!)-- 25a 42* 42* 42*
Aero Supply (B). 1 3* 3* 3*
Air Investors lno 13 3 3
AlaPwrpMO .. 10s ®6 *5 55
Ala barn Pw pf<7> 10» 78 .3 73
Allan Indust (1).. 3 21* 20* 20*
Aluminum Co
of Am pf < 1H > 60*113 113 113
Alum Goods (60c) 1 17* 17* 17*
Am Beverage- 1 3* 8* 3*
Am Capital iB) 1 M 41 II
Am Cap pf (a60c) 1 33* 33* S3*
Am Cities PAL
(AMD .... . 100a 45* 45* 45*
Am City PAL <B) 4 6* 5* 5*
Am Cynam B 60c 11 35* 34* 35
Am GAB 11.40) . 6 37* 36* 36*
Am GAB pf (()-- 300a 111* 111* 111*
Am Gen Corp -• 2 8* 8* 8*
Am LtATr (1.20). 2 20* 20* 20*
Am Mfg Co. 25a 20 20 20
Am Maracaibo_ 6 1* 1* 1*
Am Meter Co_ 1 28* 28* 28*
Am Superpower.. 22 2* 2* 2*
Am Superpwr pf-. 1 39* 39* 39*
Am Superpower
l'st pf (6) _ 2 87 87 87
Angostura <20e).. 8 5* 6* 5*
Apex Elec Mfg .. 11 25 23* 24*
Appalachian Blae
Pwr pf (7) . 60s 107* 107* 107*
Arcturus Radio T 6.1* 1* 1*
Ark Nat Gaa_ 10 5* 5* 5*
Ark Nat Gaa (A). 8 6 6 6
Ark Nat Gas cu pf 3 8 8 8
Art Mat Wka 60c 2 10* 10* 10*
Asso Elec lnd Ltd
<a29 7-100_ 1 11* 11* 11*
AaaoUAEiA) .. 18 1* 1* 1*
ASSO G A E 36 pf 2 7* 7* 7*
Asso lnvest(tlH)450s 41* 40 40
All Coast Fisher 2 9* 9* 9*
Atlas Corn latOc) 16 12 11* 12
Austin Silver- 3 1* 1* 1*
Aulo Product# ... 4 10* 9* 10
Auto Vot M<t50c) 1 8* 8* 8*
Ax-Flsheri3.20)A 470* 44* 44 44
BabcockAWU (1) 150* 86 84 86
Black A Decker... 2 22* 22* 22*
Bliss Co <EW)„ 3 18* 18* 18*
Blue Ridge Corp 6 3 2* 2*
Blue Ridge cv pf 3 2 46 46 46
Bohack <H C)
1st pf <32*)_ 10s 34* 34* 34*
Bower Roll B (1). 1 21 21 21
Bridgeport Mach. 5 16 15* 15*
Brill Corp <B> .. 2 2 2 2
Brlllo Mfg (60c)-. 2 8 7* 8
Brlt-Am Tob
cou B (a55*e) 4 30* 30* 30*
Brown Forman 6 9* 9* 9*
Dn.bat'.PI m SOo .19*. 19*. 19*.
Buffalo Ntag A E
Ppf (1.601 .. 2 244 244 244
Bulova W cv pf 50* 624 624 624
Bunker H&SuHtS 100* 734 784 734
Burco Inc war_ 14 4 4
Butler Bros . 12 94 94 94
Cable El Prod-vte 1 14 14 14
CablesAWlre(A). 2 111
CablesA Wira< B)_. 14 4 4
Cable A Wire pf
(al4.9c) __ 15 5 5
Can Indus Alco A. 1 74 74 74
Can Marconi 1 14 14 14
Carlb Syndicate.. 2 34 34 34
Carrier Corp_ 1 84 84 84
Cataltn Corp 18 124 124 124
Celanese 1st pf (7)100* 1024 1024 1024
Central P A L 1%
pf (14) 100* 594 594 594
Cent States Elec 5 2 2 2
Central States
Electric 7% pf 50* 40 40 40
Chesebrough(t4) 60*1104 1104 1104
Childs Co pf_ 50* 444 444 444
Cities Service_ 36 44 44 44
Cities Service pf. 3 51 504 51
Cities Svc Pwr
A Light 66 pf . 100* 49 49 49
! City Aut Stpg 60c 1 154 154 154
Clev Tractor .. 1 114 114 114
Club Aluminum . 5 14 14 14
Colon Oil (d) _ 12 24 24 24
Colt’s P F A (1M) 2 45 444 45
Columbia Oas A
Elev cv pf (5) 200* 104 1034 1034
Columbia OAGvtc 2 34 34 34
Com’wlth Ed (4) 2 99 99 99
Com’wlth A S war 22 4 4lr 4
Community P L
let pf ..:. 100* 28 28 28
Como Mines _ 23 4 A 4
Consol Aircraft... 8 174 174 174
Cons Copper .... 12 44 44 44
Cons Retail St ... 1 44 44 44
Cons Royal (20c). 1 24 24 24
Cooper Bessemer 1 144 144 144
LUIU V. UI y A
Cosden Oil Me <d> 1 2*4 2*» 2**
Crane* Co ... 5 28», 28 28V*
Creole Pet (b20c) 4 26* 2654 2654
Croft Brewing 22 1 HI
Crown Cent Petr 4 254 25* 254
Crown Cork
Int (A) (XI) 2 15*4 15*4 15*4
Crown Drug a 10c. 2 4T4 4H 414
Cusl Mex Mining 6 1 11
Darby Petr (50c) 1 11 11 11
Dennison 7% of 60s 6754 67*4 6754
Detroit Gray iron
Foundry (200 3 10*; 1054 10'4
Dictograph i a 15c) 12 18** 1754 18*
Doehler Die Cast 2 32 31** 32
Driver Harris tl) 1 34 34 34
Driver Har pf (7) 10s 110 110 110
Dubeller Condens 3 35j 3*4 354
Eagle Pitcher Ld 11 1054 10'-* 10'2
Eastn G&F Asso. 1 6*» 6*» 65*
Easy Washing
Mach B (*50 ) 8 1 25* 12 1 254
Edison Kros(1.60) 1 415* 41V* 41W
Eisler Eitc Corp 22 4 3** 354
Elec BondftShare 136 205* 19*4 19**
Elec Bd&Sh pf(5) 1 *054 7054 70'4
Elec Bd&Sh pf(6) 4 8154 80 8154
El Pwr Asso (A).. 4 8H 8 854
Elec Pwr & Lt
optd war __ 2 7 65* 7
Elec Pwr A Lt
2d pf (A) . 26* 62 52 52
Elec Sharehold’g. 3 554 6*4 554
Elec Sharehold
pf ww (ID . . 25s 9154 9154 9154
Emp G&F 6% pf 175s 49 475* 47'/>
Emp GAF 7% of 350s 4954 49 49
EmpG&ES%pf 100s 51 51 51
Emeco Derrick tl) 2 1854 1854 1854
Eaulty Coro 12 2*4 254 2*4
European Electric
Ltd bd rts 2 4-44
Evans Wall Lead 2 H *4 S
Bx-Cel-O A&Tool 2 165* 16 16
Falataff Brewery. 1 6*4 6H 654
Fanny Farmer
Candy (500 1 1354 1354 1354
Ferro Enamel (1) 7 37*4 37 37
Klriello Btewerv 1 41 14 H
Film Insp Mach_ 1 5* 54 5*
Fisk Rubber .. 11 554 654 554
Flak Rub pf (6) , 600s 61 67 58
Fllntkote (a75c)- 10 37* 3754 37*
Ford Motor
(Can) A (b&Oc) 3 21*4 21*4 21*4
Ford M C B <b50c) 160s 25 25 25
Ford Mot France. 1 2* 2* 2*
Ford Motor Ltd
(18 1-lOc) 25 7*4 7*4 7*j
Gen Alloys . 2 254 2V4 251
Gen Fleetrln l.tlt
reg (63740..- 2 204 204 20*
Gen Tel <a260_ 5 154 154 16"*
Gen Tele cv pf <»> 1 504 504 50U
Georgia Pw pf(6> 60a 854 854 85*
Glen Alden C(l> 1 144 144 14*
Grand R Ver(SOc) 1 144 144 14*
Greenfield TAD 1 74 74 7*
Hall Lamp talOc) 1 64 64 6*
Hartman Tob .11 1 1
Harvard Brewery 1 44 44 4*
Hazeltine (3). 6 144 144 14*
Hecla Min (600.. 2 134 134 13*
Hires (C E)A(2). 60a 22 22 22
Hudson BUftS(l) 19 26 254 25*
Humble OH U>... 3 684 58 58
Huyler*aof Del.. 14 4 4 *
Huyler’e of Del pf
•tamped (4).. 150i 194 16 19*
til Pw&Lt S« Df 60s 414 414 41*
Imp Cb In b294c. 2 94 94 9*
Imp Oil Ltd
coupon M60c).. 31 214 214 21*
Imp Oil Ltd reg
Ct50c) 2 214 214 21*
lad Pipe Line 40c 1 64 64 6*
Indiana Srv 7% pf 10* 184 184 18V
Ins Co of N Am < 2 )200s 724 72 72
int Mining KOO. 1 114 114 11*
inti Patro (tl4) 7 374 37 37
Inti Otii (B) 11 14 1 1
Inti Vitamin t40c. 1 74 74 7*
Investors Royalty 2 4 4 V
Irving Air Ch ill. 1 21 21 21
Itai SuperpwriA) 14 4*
Jersey Central
PAL 64% pf— 675e 83 82 82
Jersey Central
P& LdI (6)_ 20s 90 89 90
Jersey Central
PA L (7) 80s 99 98 98
JoneaAlJiugh Stl 100s 36 36 86
Kans City P 8 vie 2 4 4 *
Kansas City Pub
Sve vtc pf A 2 54 6 6
Kirk L Gold ieJc) 6 4 4*
Kress (SHI spec
nf (SOc'i 1 114 114 11.*
Lake Shore M 14). A 684 58 68V
Lakey Fy A Mack. 6 64 64 (V
t
Stock and suit
Dividend Rat*. Add 00. Hleh. Low Close
Lehigh CAN(SOC) 1 81* 8V4 814
Leonard Oil .. 4 « 14 W
Lobaw Groc Ltd
(A) (1)--.100a 2014 2014 2014
Loblgw Groo Ltd
(B) (11_600a 18 18 18
Lockheed Aircraft 4 644 644 644
Lone-8ur Gee 40c 2 1114 1114 1114
Long Island Light 14 4 4
Long Is Lt pf A 7 20s 8514 8514 8514
Long Island Light
pf (B)(6) 275a 74 73 73
Loudon Pk n tiOe. 2 7 7 7
La Land (40o> ... 4 13*4 1314 1314
McCord Ri'J (B>-. 4 10H 101* 1014
Marvl’d Casualty- 2 314 3% 344
Masonite Corp tl- 60a 664* 86** 86*4
Massey Hama 4 614 514 614
Mayfl'r Assoc (i)- 60s 53 53 53
Mead John itti 2 95 95 95
Memphis N G a20o 1 614 914 614
March A Mfra .A) 7 7 64* 7
Merritt Chap A 8. 1 844 844 844
Merltt Chap A S
pf (A) - _ 1 5914 5914 5914
Mich Gas A Oil — 9 414 4<4 414
Michigan Sugar— 1 114 114 114
Mich Bug pf_—- 1 614 614 614
Middle States
Patrol vtc (B)_ 2 114 1 1
Minn Mining
A Mfg (t70c) —. 75* 2914 2914 29y*
Mohawk H 2d pf. 25s 52 52 52
Molybdenum Coro 4 814 814 814
Monroe Loan (a8c) 1 414 414 414
Mont Ward A (* > 180*152 15114 1511*
Montreal H Lt A
Pwr (114) __ 1 3014 3014 3014
Mount Prod (60c) 1 6V* 61* 614
Mualler Brass I0o 2 2914 29*4 29*4
Nat Balia Beast- 18 214 2% 2*4
Nat Fuel Gas M ). 8 184* 1814 1814
Nat Gypsum (A). 2 4814 481* 4814
Nat Investor* 4 2 114 114
Nat Inv pf (al.50) 20s 6» 60 60
Nat PAL Of (6)- 60s 82 82 82
Nat Refining- 17 7 ' 7
Nat Service- 2 14 ft *
Nat Sugar N J (2) 5 2714 27 2714
Natl Transit(75c). 2 914 9*i 91»
NelsoniH) (a25c) 1 1514 1514 1514
New Haven Clock 4 9 8** 9
N J Zinc < 2) 400s 7914 7914 7914
New Brad O a 10c.. 2 3 3 3
Newmont Min (2) 3 8444 83 84*4
N Y Merch (t2)-- 2 49 47 49
N Y PAL 6% of 6 50s 100 100 100
N Y Transit (30c) 1 4T4 414 414
New Mex&ArtzLd 1 3*4 3** 3*4
Nlag Hud Pwr — 7 914 9 9
Niagara Hudson
Pwr (A) war — 3 *4 *4 *4
Niagara Shares
(Md) B (alOc) 3 10 9*4 9*4
NUes-Bem-Pond - 2 37 3614 3614
> w e* r As/ OSi As.
,\ui ui am u w » - «
Nor Cen Tex blOc 16 6 6
North Pipe L(30c) 1 514 514 514
Northern States
Power CA) — 3 29 28*« 29
Northwest Eng— 1 2114 2114 2114
Novsdel As 12) — 1 4214 4214 4214
Oldstyme Distil_ 9 814 8 8
Outboard Motor B 1 214 2% 214
Pacific Eastern— 4 4)4 41* 414
Pacific G * E
1st pf (114)- 2 32 31*4 31*4
Pantepec Oil _ 165 6% 5H 6
Pennroad (b20c) 11 4!» 4% 414
Peppered Mfg(3> 100s 57*4 57% 57%
Phoenix Secur_._. 2 61-4 614 614
Phoenix Secur
Corp pf A (3) - 1 3714 3714 3714
Pioneer Gold Mtnea
Ltd 1*00 ... 12 914 914 914
Pitney Bowes
PM (320_ 5 81* 814 S’*
Plttsb'gh Forging 1 11 11 11
Pitts* L E (t2H) 240s 71 701, 71
Potrero Sugar 4 4** 4** 4H
Pratt * Lamb tl-- 2 31'4 3m 311,
Premier Gold tl2o 9 2ty 2% 214
Propper McCall'm 2 4 4 4
Prudential Invest 1 9V» 91* 91*
Pub Svc Ind pf_ 10s 21*4 21*4 21*4
Puget Sound Pwr
* Lt 35 pf 525 s 6914 6814 6914
Puget Sound Pwr
ALt$6 0f 225* 29T4 29H 29*4
Pyrene Mfg(a20c) 1 714 7% 714
Quebec Power (1) 25* 1614 16H 16%
Raytheon Mfg- 1 6*4 5S. 5*4
Red Bank _ 4 8>4 8*4 814
Reed Roll B n wl_ 3 2214 2214 22%
Reeves Dan (50c). 18 8 8
Reynolds invest.. 5 214 2*4 2*4
Richmond Had .. 1 4% 4% 4%
Roosevelt Field . 6 314 314 314
Root Petrolmeura 2 1514 15 15
Rustless lr * Stl 3 4 4 4
Sat Car H&L (4) 475* 80 78 79
Salt Creek P(80c> 1 8’/« 814 814
St Regis Paper 9 314 3*» 314
St Regis Paper pf 20* 561* 55 55
Segal Lock *H - 4 314 3 3
Selby Shoe (2)— 50* 32 32 32
Selected Indus 2 3 3 3
Sel Ind all cfs 6*4 150s 91 91 91
Sentry Safety Con 4 *4 *4 *4
Shattuck Den Min 1 b4 64 64
Shenandoah - 12 2 2
Sher WIlllamaM > 100*1234 1234 1234
Sher-WIll pf (5)-- 50s 11341134 113*.
Singer Mfg (t6) 40*345 344 345
Smith Corona vtc 1 214 214 214
Sonntone iakO 3 2H 24 24
S Cal Ed pt pf 14 10s 37 37 37
Sou'h PennOtUi 1 36 36 36
SouthJ d Koy 20c 1 74 74 74
Southn p L i30c). 1 54 54 54
Square D Co
pf A 1220)1008 32 32 32
Stand Oil Ky (l). 9 174 174 174 .
Stand Ull Nebr_ 1 114 114 114
Stand Pwr A Lt . 2 34 34 34 ‘
Stand Sll&L tale) 5 4 rfe «
Sterchl Bros Stra 7 44 4 44
Sterling Br(alOc) 5 54 6*4 54
Strook & CotaZSc) 150s 284 28 28'
Stutx Motor_ 3 3 3 3
SunrayOU_ 10 44 44 44
Sunshine Min (X). 7 184 184 18*4
Swiss Oil (tX0e)~ 1 44 44 44
Tampa Else U.Z4) 1 374 874 374
Tasteyeastt Del) A 37 34 3 34
Taylor Distill_ 6 54 54 54
Technicolor Inc.. 8 304 294 294
Teck HughesMOc) 4 44 44 44
Tenn Products — >1 4 4 4
Texas Gulf Prod. 4 5 44 44
Texon O A L (60c) 10 64 64 64 |
Tob Prod Ex (10c) 3 34 34 34
Trans-Lux Dayllta
Pic Sn (200 .. 6 44 44 44
Trl-Contl C war_ 3 34 3 3
i’ublze Chatlllion. 5 74 74 74
TublzeChatl (A). 2 274 26‘. 264
Tung-Sol Lamp n. 3 94 94 94
Twin Coaab (alOc' 2 184 134 134
Union Gas of
Canada (alOc) 5 104 104 104
Unit Air war- 1 15 15 15
Unit Corp war..— 1 14 14 14
Unit Gas Corp- 61 84 8 84
Unit Gas C war... 4 24 24 24
Unit Gaa Corp pf— 4 1044 1034 104
Unit Lt A Pw (A). 8 64 6 64
Unit Lt A Pw pf 5 474 464 464
Unit Milk Pr a25c 25* 12 12 12
Unit Shoe Mt24 125s 86 854 854
U S Foll(Bx60c>. 4 174 17 17
U S A mu Secur.. 1 24 24 24
US&IntlSecur
lstpf vw UU 4 72 71 71
U S Stores ..- 1 A * *
Unit Wafl Paper— 11 64 44 5
Util Pwr A Lt ... 6 14 14 14
Util Pwr A Lt pf- 60* 224 224 224
Utility EquiUes.. 1 34 34 34
Venezuela Petrol- 1 14 14 14
Wayne Pump_ 41 30 284 284
W Va Coal A Cok# 1 34 34 34
Westn Cart pf (8) 25s 1014 1014 1014
W’est Tabulating
AStavtC(fl) 1 224 224 224
WU-low Cafe pf - 1 74 74 74
Wright Harg t40e 20 8 74 8
Yukon Gold ....- 5 24 24 24
Dividend rat* In donsrf dun do ian
Quarterly or Mml-annual payment tAa
nuai rgtg-piur antra tAeeumulate divi
dend* a Paid thl* rear bPaM last year
dComoanle* reported to receivership or
being reorganised payable In stock
fPlus osrtls) dletiibntfnn of aaaeta.
Kx-dtvidend
REAL ESTATE LOANS
CONTINUE TO CLIMB
By tor Associated Press.
Loans against real estate by mem
' ber honk* of the Federal Reserve
' System In leading cities have climbed
, slowly this Spring and accumulated
a moderate gain over comparable 1935
figures. The trend toward expansion,
following several years of decline, be
came noticeable late last year with
the rise In residential building and in
mortgage loans Insured by the Fed
, eral Housing Administration.
Total real estate loans of the re
porting hank■ in ioi cities compared
1 as follows:
Week ended May 30-$1,147,000,000
i Preceding week.1,146,000,000
■ flame week laat year... LUfcOOO.OOO
N
Ability to Regulate Supply
Evidenced—Oklahoma to
Cut 5 Per Cent.
By the Associated Press.
TULSA. Okla., May 28.—Oil men
were reassured today by further evi
dence of ability to regulate supply
to meet demand and the general tone
of the oil business was good.
Although the Nation again pro
duced over the 3,000,000-barrel daily
mark—a new record set last week
confidence was restored by quick moves
among producers to keep the supply of
crude from getting out of hand.
Oklahoma operators agreed among
themselves on a 5 per cent reduction
in June allowables below the Bureau
of Mines recommendation and the
State Corporation Commission put the
reduction into effect.
Oklahoma oil men were pleased at
acquiescence of Kansas and Texas in
a 5 per cent decrease. Any number
here saw relief of a condition which
might have led to a price collapse.
The old cement Held of Southern
Caddo County. Okla., came into the
picture with discovery of a new deep
producing horizon in the Pennsylvania
series at from 6,258 to 6,367 feet. The
held had produced from shallow depths
since 1916.
An indication of a general move
ment to curtail unnecessary drilling
was construed from the week end
tabulation showing only 46 first re
ports on wells in Oklahoma compared
to 69 the previous week.
A high point of interest among the
drilling fraternity was the behavior of
the No. 1 wheeler of the Anderson
Prichard Oil Corp., which flowed some
oil and then salt water from the Wil
cox sand, and may have defined the
northwestern boundary of the "man
sion area” of Oklahoma City. An im
provement in spot movement of gaso
line was a healthy factor in the re
fining end. Contract shipments con
tinued strong.
Prices for crude oil, gasoline and
natural gasoline were firm and un
changed.
E. P. & L. NET INCOME
$2,568,474 IN QUARTER
NEW YORK, May 28 UP).—Electric
Power & Light Corp., holding com
pany affiliate of Electric Bond &
Share Co., reported for the quarter
ended March 31 consolidated net in
come of $2,568,474, equal, after only
the regular preferred dividend re
quirements, to 34 cents a share on
the common stock, against $1,208,990,
or $1.57 a share on the combined $7
and $6 preferred stocks, lr» the March,
1935, quarter.
National Power & Light.
National Power & Light Co., as
sociated with Electric Bond & Share
Co., reported for the quarter ended
March 31 consolidated net Income of
$2,099,326, equivalent, after dividends
on the $6 cumulative preferred stock,
to 31 cents a share on the common
stock. This compares with $2,178,
238, or 32 cents a common -chare, in
the March quarter last year.
Washington Exchange
SALES—AFTER CALL.
Capital Transit Co.—10 at 12"».
Washington Railway A Electric pfd.—
1 at 110.
Bid and Asked Prices.
BONDS.
PUBLIC UTILITY.
Bid A'kcd.
Amer Tel. A Tel. 4'2s_lll’a _
Am. Tel. & Tel Col. Tr. 5s. 109 _
Anacostl* & Pot. 5s._ 75 79
Ana A Pot. Guar 5s_109 _
C. A P. Tel. of Va. 5s_100 _
Capital Traction R. R. 5s_ 89*/2 »0*4
City A: Suburban 5s_ 84 87
Georaetown Gas 1st 5s_lid ....
Pot. E!ec. Pow. Cons. 5s 100 100’«
Potomac Eire. >s__105'j _
Wseh. G?.s 5s 1958_100': _
Washington Gas 5s 1900_118 _
Wash. Gas Os. series B_100 _
Wash. Rwv * Elec. 4s_10514 107V4
MISCELLANEOUS.
Chevy Chase Club 5'2s_10« _
Col Country Club 5'2s_104 _
W. M. Cold Storaee 5s_100
STOCKS.
PUBLIC UTILITY.
Amer. Tel. At Tel. (9)_105
Capital Transit Co_ 1214 13
N. A w. steamboat (6)_ RO _
Pot. Elec. Pow. 6f. pid. i6)_*108>4 _
Po. El. Pw. 5'/a<r» pf. (5.50)-*110y« _
Wash. Gas Lt. Co. (3.00)... 80 83
Wash. Ry. * El Co. (36)—.*550 _
Wash. Rwy. A El. pfd. iSI.’llOH _
BANK AND TRUST COMPANY.
Amer. Sec. At Tr. Co. <10)_ 255 270
Bank of Bethesda (1.50)_ 27 __
Capital >4)_130 _
Com. At Savings (8)_185 _
Liberty (3) _105 _
Lincoln (6.25)_ 200 250
Natl. Sav. & Tr_115 _
Prince Georges Bk. A Tr._10 20
Riggs (8)_ 250 270
Riggs pfd. (5)_ 106 _
Washington (6)_ 125 __
Wash. Loan A Tr. (8)_ 223 _
FIRE INSURANCE.
American (t 12) __ 190
Corcoran (5)_ 98 _
Firemen’s (1.60)_ 30 __
Vational Union (.60)_ 1414 _
TITLE INSURANCE.
Columbia (.30)_-_ 7 __
Real Estate (6).. 120 _
MISCELLANEOUS.
Carpel Corp (1.60)_ 23V« 24»i
Lanstor Monotype (4)_- *80 _
Mergenthaler Linotype (|)_ 40 41'4
Peoples Drug S. com (1.00) 39 41
Peoples Drug S. pfd. (6.50>_ 114 _
Real Est. M. * G. pfd. (.20) 4% 6
Security Storage (5)_lOfj _
Ter Ref & Wh. Coro. (3)_ 61 __
Wdwd. & Loth com. <tl.60) 55 64
Wdwd. dc Loth. pfd. (7)_120 _
•Ex. dividend.
tPlus extras,
extra.
150 cents paid May 15. 1936.
FEDERAL LAND BANKS
NEW YORK, May 28 OP).—Federal Land
Bank bonds:
(Noon quotations.)
Bid. Asked.
4'As Nov 1958-38.. 107% 107%
4'As May 1957-37.. 103% 103%
4'As Jan 1957-37_102% 102%
4'As July 1956-38_100% 101%
4s May 1958-38_106% 105%
4s Nov 1957-37_104% 104%
4s July 1948-44_109% 110%
3'As May 1955-45_102% 102%
3s July 1965-45_100% 100%
38 July 1958-48.. 100% 100%
3s May 1956-46.._loO% 1Q0%
CHICAGO LIVE STOCK.
By the Associated Press.
CHICAGO May 28.—The buoyant un
dertone of the hoe and fresh pork mar
kets resulted in a rally of prices in thi
live trade today which lifted values back
to the week’s high noint.
Although sellers had 16,000 fresh hogi
available, a much larger run than haC
been expected, demand was good tnd buy
ing was active. Prices ruled strong tc
10 cents higher and the top was back
at $10.10.
The meat trade this week has handler
the largest volume of fresh pork slnc(
January, but since wholesale channel!
had been cleared as a result of last week'i
low receipts, retailers have readily ab
sorbed the increase at the year's highest
prices. This strength in the wholesale
trade has stimulated the live market con
siderably and receipts every day have beer
runningahead of advance estimates.
The Kosher holidays this week favorer
cattle buyers. Cattle receipts were nol
large, but demand was slow and mediuir
weight and weighty steers ruled weak t<
25 cents lower, while yearlings and de
sirable light steers were steady. Heavj
steers had no reliable outlet except at a
sharp discount. It was largely a $7.28
to $8.25 market. . .
Better grade old crop lambs were steady,
but other grades and Spring lambs tender
lower. The movement of lamb meat lr
consumption has been sluggish, accord ins
to late reports, with prices high The
supply of sheen at all major markets hai
dwindled rapidly and there is no imme
diate prospect, traders say. of improved
volume. f
)
~ __
.
---
REPUBLIC STEEL
VOTES SIM
Plant Improvement to Be
Made—Regular $1.50
Dividend Allowed.
By the Associated Press.
CLEVELAND, M*y 28.—Directors of
Republic Steel Corp. have authorized
expenditure of (700,000 for plant im
provement and declared the regular
quarterly dividend of (1.(0 a share on
its 6 per cent cumulative convertible
prior preference stock, series A.
The dividend is payable July 1 to
stockholders of record June 12. Jhe
improvements include:
In the Youngstown-Warren district,
$250,000 for Increasing the finishing
capacity of its electric weld tube mills
and $65,000 for minor Improvements.
Facilities for increased production
of coated sheets at Canton, Ohio, and
of stainless steel strip at Massillon, at
a cost of $206,000.
Improvements to the Buffalo open
hearth plant, $74,000. Additions and |
equipment for the Truscon plant in I
Cleveland, $64,000.
Minor improvements for plants of'
Steel & Tubes. Inc., at Cleveland and ‘
Elyria, Ohio; for the blast furnace at j
Birmingham and for the Northern ore 1
mines.
INVESTING COMPANIES
NEW YORK. May 28 IJP>—New York
Security Dealers’ Association:
(Noon quotations.)
Bid Asked.
Admin Fd 2nd Inc_16.26 17.30
Am Gen Eq Inc _ 1.03 1.15
Am Business Shrs_ 1.11 1.21
Am Ins Stocks _ 3.875 4.50
, Basic Industry _ 4.51
British Type Inv___ 313 .53
Broad Street Inc__ 28.85 .10.88
Bullock Fund _ 17.375 18.875
Corporate Trust. __ 2.67 _
Corporate Trust A A_ 2.58 _
Corp Tr A A mod _ 3.23 _
Corp Tr Accum Ser__._ 2.58 _
Corp Tr Acc Mod_ 3.23 _
Cumulative Tr Sh.. _ 5.69 _.
Depos Bk Sh N Y ”A"_ 2.25 2.50
Depos Ins Shrs "A”_ 3.87
Depos Ins Shrs ”B”_ 3.64 4.05
Diversified Tr C_ 4.40 4.70
Dividend Shrs _ 1.60 1.73
Equity Corp $3 pf_ 40.75 43.75
Fidelity Fund Inc_ 25.48 27.45
First Boston Corp_ 46.75 48.25
Fixed Trust Sh A_11.65
Fixed Trust Sh B _ 9.67
Fund Investors Inc_ 21.63 23.72
Fund Tr Shrs A _ 5 8S 6.50
Fund Tr Shrs B _ 5 60
| Gen Investors Trust _ 5.77 6.34
I Group Sec Agriculture_ 2.07 2.24
Group Sec Automobile_ 1 45 1.58
OrouD Sec Building _ UU 196
Group Sec chemical _ 1 47 1.6(1
Group Sec Food 1.13 1.23
Group See Merchandise 1.20 1.31
G4oup Sec Mining _ 1 48 1.61
Group Sec Petroleum _ 1.21 1.32
Gr^up Sec R R Equip __ l.lo 1.20
Group Sec Steel , _ 146 1.59
Group Sec Tobacco _ 1 27 1.38
Huron Holding _ .to .55
Incom Investors _21.71 23.34
Inv Tr N Y Coll •’A’’ _ 6.00
Investors Fd ”C" Inc _ 95.06 96.98
Investors Fund of Am ... 1.02 1.13
Major 8hrs Corp. _ 2.875
Maryland Fund _IK 64 20.16
Mass Invest Tr_ _ 25.01 26.54
Mutual Invest _ 1 45 1.59
Nation Wide Sec_ 4.22 4.32
Nation Wide vtc_ 1.72 1.86
N Y Bk Tr Shrs . _ 3.375
North Am Bond Tr ctfs_73.625 77.875
Nor Am Tr Shares _ 2.52 _
Nor Am Tr Sh 1955_ 3.30 _
Nor Am Tr Sh 1956_ 3.26 _
Nor Am Tr Sh 1958_ 3.30
Northern Secur _ 58.00 63.00
Plymouth Fund Inc_ .97 1.08
Quarterly Income Sh_ 1.53 1.69
Selected Am Sh _ 3.59
Selec AA Sh Inc _ 1.52 1.66
Selected Income Sh _ 4.86
Selected Indus cum cv pf. 17.00 18.50
Spencer Trask Fund _ 19.43 20.66
Stand Am Tr Shrs_ 3.65 3.90
Stand Util Inc _ _ 1.00 l.OS
Super of Am Tr A_ 3.57 _
Suoer of Am Tr AA_ 2.47 _
Super of Am Tr B_ 3.76 _
Super of Am Tr BB_ 2.47 _
Super of Am Tr C __ 6 70 _
Super of Am Tr D _ 6 70
Supervised Shrs news_ 13.07 14 21
Trustee Stand Inv c _ 2.48
Trustee Stand Inv D _ 2.43
Trusteed Am Bk "B” _ 1.00 1 12
Trusteed Industry Shrs_ 1.36 1.51
Trusteed N Y Bk Shrs_ 1.47 1.67
U. S. TREASURY POSITION.
The position of the Treasury May 26:
#7,284.029.26: expenditures.
SI S,081.02a.60: net balance. $2,347,394.
j*7l-44o receipt* for the month.
m ihi flsc*> 7«»r (since July
1L expenditures. $8.
484.8.19.7«o.lo. including £3.005:553.361.
U8 of emergency expenditures: excess of
expenditures S2.910.516.558.02: gross
debt. $.11,590,049,02 /.HR. a decrease of
*603,220 under the previous day: gold as
sets. $10,386,828,456.99.
Receipts for May 28. 1935 (comparable
date last year). *8.593.037.52: expendi
tures. *16.440.419.89; net balance”SI -
609.082.449.25: customs receipts for the
month. $27,505,513.38.
R'«,pts for the fiscal year. $3,322,486.
131.89: expenditures. $6.444 041 106 85
including $3,215.527.678/74 of emergency
of expenditures. |3.
^\3tnjsrMkJBUw^
FOREIGN EXCHANGES.
NEW YORK. Msy 28 (4b.—Foreign ex
change firm: Great Britain demand. 4 99V
cables. 4.99V 60-day bills. 4.98V France
demand. 6 58V cables. 6.584s: Italy de
mand 7.87: cables, 7.87.
Demands: Belgium. 16.91: Germany,
free 40.26: reg., 22.15: reg. travel. 23 50:
Holland. 67.5c Norway. 25.08: Sweden.
25.73: Denmark 22.28: Finland. 2.21
Swltaerland. 32.32: Spain. 13.6444; Portu
gal 4.53: Greece. .94V Poland. 18.85:
Czechoslovakia. 4.14: Yugoslavia, 2 30
Austria. 18.75n: Hungary. 19.85: Rumania'.
JO: Argentina. 33.27n: Brazil 8.60n:
MSt 9n—Nmiilnal ™ in “«“***•
NEW YORK PRODUCE.
NgW TOK, May 28 UP>.—Live poultry
weak. By rrelgbt: Chickens and broilers
unauoted: fowls. 19i20: roosters, 18: tur
keys. 14a23: ducks (all sections), llal3.
By express- Broilers, 16a25; fowls, lffa
ehinsed ter*’ 16; 0thtr **Pr*“ Prlc«* un
_ Dressed poultry Irregular. Fresh:
Chickens, 20*32'%: other fresh and all
frozen prices unchanged
Butter. 15.865: firmer: creamery, higher
tnan extra, 28Vxa29; extra ,92 score). 28;
firsts (88-91 score). 27a28; centralized
(90 score). 27%.
Sheeee. 263.625; firm: prices unchanged,
ggs. 22,149; firm: mixed colors; stand
ards and commercial standards. 22’%:
firsts. 21V medium. 40 pounds. 20: dir
ties, No. 1. 42 pounds. 2()a20V average
checks. 19: storage packed firsta. 21V
other mixed colon unchanged.
SOCONY VACUUM TOPS
’35 QUARTER $7,000,000
By the Associated Press.
NEW YORK, May 28.—Bocony I
Vacuum Oil Co.’s earnings in the first!
four months of this year were $7,- 1
000,000 ahead of the same period last
year. J. A. Brown, president, stated:
at the annual stockholders’ meeting
today.
The oil price structure, Brown said,
looked better than last year, although
it was still somewhat Irregular in
some areas.
The company is one of the largest
oil concerns in the country, having
been created through consolidation j
of the old Vacuum Oil Co. and
Standard Oil Co. of New York.
. ■ ’ '—t
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS.
NEW YORK. May 27.—The follow
ing us today's summary of corporation
news prepared by Standard Statistics
Co., Inc., New York.
National Lead Co.—Declared an ini
tial quarterly dividend of 124 eents
on the new $10 par common stock;
this payment equaled the $5 a share
yearly rate on the old common, which
recently was split 10 shares for one
share.
Celluloid Corp.—Declared a dividend
of $2 on account of accumulations on
$7 first preferred stock; giving effect
to this distribution, arrears on this
issue amounted to $34.50 a share.
Cro6ley Radio Corp.—Declared a
dividend of 50 cents on common stock; i
on July 1, 1935, a dividend of 25 cents
a share was paid on this issue; presi
dent stated that while the dividend I
did not establish a regular policy he
was hopeful that additional disburse
ments could be made sooner.
Vick Financial Corp.—Declared a
dividend of 15 cents on common j
stock; on December 20, 1935. a semi
annual dividend of 74 cents a share
and an extra dividend of 24 cents a
share were paid on this issue.
Crown Cork & Seal Co.—Company
proposes to reduce its authorized capi
tal stock by 145,000 shares of $2.70
preferred stock, creation of 225.000
shares of $2.25 cumulative no par pre- i
ferred stock and increase by 40.487 ;
shares of common stock; stockholders
will vote on proposed changes at meet
ing on June 15.
Smith (L. C.) & Corona Typewriters,
Inc.—Company filed a registration
statement with Securities and Ex
change Commission covering $1,750,«
000 44 per cent debentures with war
rants attached.
Lion Oil Refining Co.—Net income
before Federal taxes, four months
ended April 30. was $151,807, equal to
57 cents a common share, vs. deficit of
$162,883.
Consolidated Aircraft Corp.—March
quarter common share earnings were
1 cent.
General Motors Corp.—Work has
been begun on a $1,000,000 addition
to company's research laboratories
building.
Crane Co. declared a dividend of.
$1.75 on 7 per cent preferred stock
on account of accumulations; giving
effect to this distribution, arrears on j
this issue amounted to $22.25 a share.
Wesson Oil & Snowdrift Co., Inc., j
declared a dividend of 124 cents and
an extra dividend of 374 cents on j
common stock; on April 1, 1936, a
similar extra dividend was paid on1
this issue.
INSURANCE STOCKS
NEW YORK May 28 </Pt.—New York
Security Dealers' Association:
(2 p m. quotations.)
Bid. Asked.
i Aetna Cas (2a)_ 66 loo
'Aetna Ins - b".iY* 55;<
'Aetna Life i.60ai_ 33% 35%
Am Equit (1).. 30 33
Am Ins Newark (V*)_ 14% 16%
Am Reinsurance (3>- 71Va ,S(j
Am Reserve ' I)- 2T*a no
Am Surety (2%)—_ 55 57
Automobile (la)-..- 36 3*
Balt Amer <.20a)_ 8 o
Carolina (1.20)- 21%
City of N Y (1.20)__ 25% 27
Conn Gen Lif (.80)- w,i •*•%
Fid & Dep (2a)_ 04% 87
Firemens Nwk_ lOV* 113«
Frank Fire (la)- 30V, 32V,
Gen Alliance (.80). 21 22%
Glen Falls (1.60)_ 39% 41%
Globe & Rep (%g)- 13% 15%
Globe A Rut_ 41% 45
Great Amer (Ja)- 77J4 2*3'<
Hanover (1.60)___ 38% 40%
Harmonia d.20>- 27 28’,
Hartford Fire (2)_ 73% 76V,
Home Fire Sec.- 5 6
Home Ins lit).. 34% 3«%
Homestead (1)- 25% 27
Lincoln Fire - 3 4
Nat! Fire 12)_ 71V, 74%
Natl Liberty 1.20a)_ 9V« 10%
N Hampshire ( 160)- 44 46
N Y Fire (,60a>- 18% 22
Nor River (.80a)- 26% 28Va
Phoenix (2a)___... 86 90
P?ov Wash d) 39% 41%
St. Paul Fire («)_I_208 , 214
Sprinafleld (4%a)-- 129% 123%
Travelers (16)_ 570 580
U S Fire d.80>- 51% 53%
Westchester Hi)- 34 36
a—Including extras,
g—Declared or paid so far this year.
NEW YORK BANK STOCKS
NEW YORK. May 28 i.F).—New York Se
curity Dealers’ Association:
(2 pm. quotations.)
Bid. Asked.
Bank of Man (1%)- 77 28%
Bankers’ Tr (2)_----- 55 57
Cen Han Bk A Tr (4)-110% 113%
Chase Nat (1.40) - 37 39
Chem Bk & Tr (1.80)- 63 55
Commercial (8) ...--— 10i„ 372
Cent Bk A Tr (.80)- l.% 19
E%SiPt? dT ,3>.I 27*) 23*£
Rrst^Na? (Bos)"(2)HIII- 44% 46%
First Natl 1100)-1885 1925
Guaranty Tr (12)- *8? 290
Trying Tr (.60)——.--.— 11% >;)>
Manufacturers Tr (It)- 44% 46%
Natl Citv (1),- .33 35
N Y Trust (5) „-118 121
Public H’V) __ 39% 41%
Title GAT_- 9 iO
a—Including extras.
/
Industrial Alcohol
Dividend Rate Cut
From 50c to 25c
By tbe Associated Press.
NEW YORK, May 28.—Directors of
United States Industrial Alcohol to
day ordered a reduction in the com
mon dividend to 25 cents from the
50-cent rate paid quarterly since
March, 1935.
C. E. Adams, chairman of the board,
issued the following statement:
"Volume of company's business has
been consistently satisfactory since
the first of the year and remains so
today. However, within the last two
months competitive conditions within
the industry have brought about so
severe a decline in the average selling
price of the main volume products of
the company as to leave an unsatis
factory margin for profit.”
“The directors of the company
deemed it wise, in view of existing
conditions to reduce the dividend to
be paid July 1 to 25 cents a share.”
The dividend is payable July 1 to
stock of record June 15.
OIL GROUP DIVIDENDS
PUT AT $94,484,839
Standard's Half of 1936 Far
Ahead of 1935, Gain of
15 Per Cent.
By the Associated Press.
NEW YORK. May 28—Aggregate
cash dividend payments by the com
panies of the Standard Oil group in
the first half of 1936 are estimated at
$94,484,839. compared with $81,944 223
in the first half of 1935, an increase
of approximately 15 per cent and the
largest for any similar period since
1931, according to figures compiled
by a local investment house.
Total disbursements for the second
quarter are estimated at $74,552,751,
compared with $63,821,486 in the sec
ond quarter of 1935, while first quar
ter payments this year totalled $19,
932,088, compared with $18,122,737 in
the corresponding quarter of last
year. The large difference between
first and second quarter payments re
flects the fact that several of the
larger members of the group are on
a semi-annual dividend basis with
payments being made in the second
and fourth quarters.
Increased payments by standard
Oil Co. of New Jersey. Standard Oil
Co. of Indiana. Standard Oil Co. of
California, Ohio Oil Co.. South Penn
Oil Co.. South West Pennsylvania
Pipe Lines and Indiana Pipe Line Co.,
account for the larger aggregate dis
bursements this quarter when com
pared with the corresponding period
of last year.
Think Present Scale Acts
as Barrier to Support
for Run of Stocks.
Pj the Associated Press.
NEW YORK. May 28.—It would
seem that a great many, probably a
majority, of the brokers on the Stock
Exchange have taken up the cry that
the recent boosts in margins have been
responsible for the shrinkage in Stock
Exchange dealings.
Up to a couple of weeks ago the
brokers held a variety of theories con
cerning the thinning public interest in
the equity list, but the diff used notions
have apparently bc-en reduced to a
common belief, or conviction, that the
55 per cent margin requirement is the
basic cause. Board room gossip says
that many of the brokers feel that the
exchange executives should have put
mere force behind their arguments in
favor of easing of the margins when
they presented their case before the
Reserve Beard some time ago. This
militant group is understood to be
mo6t active in the present agitation
for a new appeal to the Reserve Board.
While not denying a motive of self
interest in their wish for a downward
revision, certain of the exchange mem
bers declare that the present subject
of margins has an importance which
transcends any consideration of
brokerage commissions. They dis
claim any desire for a cut in tha
trading ante that would make tha
cost of trading too inexpensive and
thus invite dealings by people who
can ill-afford the game. But they
contend that the present scale of
margins, by discouraging prospectiva
buyers, operates as a barrier against
normal support for the general run
of stocks. This, in turn, they claim,
has made for a thin market, on®
that is likely to be generally unsatis
factory to either buyer or seller.
Most traders, of course, echo th®
brokers’ sentiments on margins, but
a little distance from the inner Stock
Exchange circles may be found ob
servers who feel that the brokers
are on doubtful ground when they
put the entire blame for inactivity
upon this factor. Here it is reiterated
that the stock market is paying the
usual penalty for a too enthusiastio
bullish drive, which with its culmi
nating reaction, in April had also th®
usual effect of dampening speculativ®
ardor.
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DIRECTORY
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COTTON
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Laidlaw A Co- DL 2256
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