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U.S. BONOS MOVE DOWNWARD AGAIN Further Losses Shown by Treasury and Guaran teed Issues. Bond Averages •>0 HI 10 10 Rails Indust. Util. P in Net change. -—.1 Unc. Unc. Unc. Today, close 94.7 103.2 100.1 72.4 Prev. day... 94.8 103.2 100.1 72.4 Month ago.. 97.5 103.9 191.9 74.1 Year ago_ 92.5 102.6 102.5 70.4 1937 high... 99.0 104.4 102.8 74.7 1937 low... 94.7 103.1 100.0 72.3 1936 high.. 98 2 104.4 103.1 73.0 1936 low... 86.9 101.8 99.3 67.6 1932 low... 45.8 40 0 64.6 42 2 1928 high.. 101.1 98 9 192.9 100.5 10 Uow-Yield Bonds. Close-*109.2 Prev. day. 109 4 Month ago 111.2 Year ago. 111.5 1937 high. 113.7 1937 low.. 109.3 1936 high. 113.5 1936 low.. 110.2 1928 high. 104.4 1932 low.. 86.8 * New low. • Compiled by the Associated Press.) By the Associated Press. NEW YORK. March 20.—Another selling movement in United States Government bonds brought further sharp losses in Treasury and guaran teed issues today. By the end of the first hour de clines ranged from 4-32 to 21-32 of a point, leaving values at the lowest levels for 1937. Selling was again accompanied by reports institutional holders were lightening portfolios in preparation for a gradual rise in money rates. A few low-yield corporate issues slid off with the Federals, and most specu lative ratings were inclined to sag in absence of support from the share list. Declines ran from minor fractions to around a point in obligations of Columbia Gas A Electric, Goodyear, Great Northern, International Paper. McKesson & Robbins. Bethlehem 8teel, Chesapeake Corp , Baltimore Sc Ohio, Missouri Pacific. Pacific Gas and Pennsylvania The relatively few issues which ' managed to work a little higher j against the downtrend included American & Foreign Power 5s. Alle ghany Corp. 5r and Youngstown Sheet l'.4s. The last-named climbed about J points. -• ——. Washington Exchange SALES. Potomac Electric Power 6^ pfd—10 at 11312• Washington Rwy. & Elec, pfd —10 at 109>/2, 10 at 109'2. 10 at 109’,, io at 10912 Columbia Title Insurance Co —25 | at 15. Lanston Monotype—5 at 100. Mergenthaler Linotype—10 at 50 V, 10 1 at 50'2. 10 at 50’.. AFTER CALL. Washington Rwy. Sc Electric 4.s—$1,000 at 106 Potomac Electric Power 51 a 'T pfd.—10 at 11312. 10 at 113'2 National Bank of Washington—1 at 135. Washington Gas Light—5 at 80. Bid and Asked Prices. BONDS. PUBLIC UTILITY Bid Asked. : Amer. Tel, A Tel. 4’j* mh',4 Anacostla A Pot. is _ 16 7734 Ana A Pot. Guar. os _ MR CAP Tel. of Va. os M3 Capital Traction R. R. 5s 93 04 City A Suburban Bs R3'2 R5 Georgetown Gas 1st 5s . 113 171 Pot. Elec Pow. ,1i-4s _ MIG 1 o.'(12 Wash Gas 5s lf)58 HI5', M3 | Washington Gas 5s 1930 . llli-l Ml ! Wash Rwy A Elec 4' 105G lOe'.j MISCELLANEOUS Col Country Club 5Gs 105 _ w. M. Cold Storage 5s __ 100 _ STOCKS. PUBLIC UTILITY. Amer Tel A Tel. (Bi *171 ’a Capita! Transit Co. 1412 13 RAW Steamboat <8> 110 ?ot Ei Pew. fie", pfd. (6) _ U2'a o El. Po 5'5*0 nf. (B 10) 113 114 Wash. Gas Lt Co. (3.30! . so 85 Wash Ry. A El. com. 725 775 Wash Ry A El ofei (B) lOBVa 110 BANK AND TRUST COMPANY Amer Sec A Tr Co. (e8t _ 300 305 Bank of Bethesda 'h.75) _ 34 .. _ Capital (41 135 _ Com. A Savings GO) . __ 205 _ Liberty 14 • 150 _ Lincoln 06.25) 200 _ Natl Sav A Trust _ 150 Pr Georges Bk. A Tr. (.50) 18 21 Riggs (eRi 350 __ Riggs Dfd. (5> 101 _ Washington (6) . . 130 _ Wash. Loan A- Tr (eR) 200 _ EIRE INSURANCE American (3) 100 _ Corcoran (5) ..__ loo _ Firemen’s (1.60) ._ 2R _ National Union (.60) . 16 _ TITLE INSURANCES Columbia (.30) 15 167. Real Esiate (6) 160 MISCELLANEOUS Carpel Oorp (2.00) 22 26 Lanston Monotype (4) tlOO Mei genthaler Lino. (2.001 Bo'a 52 Peoples Drug 8 com. it],00) *55 5B Peoples Drug P. pf (3 B(>' 112 114 Ileal Eat. M AG. pf. (*• TOl 5 53.i Security Storage (5) 123 125 Ter Ref A Wh. Corp (3> Bo Wdwd A Loth com. (*1.50) *30 70 Wdwd. A Loth. pfd. (7) *120 123 •Ex dividend. ♦ Plua extras «—:IK extra f—i i/,»r extra, n—75c extra *•—25c paid June 30. 1936: 45c paid Owe 22. 1936. Washington Produce. BUTTER—92 score. 1-pound prints. 39; V«-pound prints 40; tub, 38; 90 score. 1 pound prints. 38: 's-pound prints, 39; tub. 37, Market strong. MEAT8—Choice beef 17 calves, 18. veal. 16; lamb. 21; pork loin, 23; fresh ham, 23; smoked hams, 26; sliced bacon. 33; slab bacon 28: compound. 14, lard. 15 LIVE STOCK—Pigs h'?a9: light hogs. Batty?: medium hogs. 9'?al0. heavy hogs. Sett'-?; roughs. oa8, calves. 5*10; lambs. Sal 0. Prices paid shippers, net f. o b. Wash ington by the united States Bureau of Agricultural Economics: EGOS—Market unchanged. Tone steady to firm. Current receipts, 211/? to 22; hennery whiles. 2212 to 23: Government graded and dated white eggs (net prices paid shippers. 1 o b Washington I. U. 8 extras, large 27'V, U. S. extras mediums. 22!V. U. S. standards, large. 24. LIVE POULTRY—Market full steady to Arm Fowl, colored, heavy. 17 to IS); Leg horns. 14 to J6. chickens Rocks and crosses, under 3 pounds 22 to 22 V?; over 3 pounds 23: a few at 23'? to 24: guineas, young. 2 pounds and up. 40 each; under 2 pounds 25 to 30 each: old guineas 20 to 25 each, turkeys, young hens, ill to 20; young toms, under 19 pounds. 16 to 17; 20 pounds and over. 15, No. 2s. 12; old hem. 14; old toms. 14. FOREIGN EXCHANGES. • Reported by W B Hibbs * Co.) Nominal Checks gold value. today London, pound *4 sorts si.88'? Paris, franc _ _ 3.ttlA«o 4.5Ht«c Brussels, belga. . 1.3.91c l(t.844«c Barlln, mark _ _ 23.82c lo.23c. Rome, lira _ 5.26c 6.2t)V?c lunch, franc _ 19.3c 22.77Vac Athens, diachma_ i.3c Madrid, peseta _ 19 3c Vienna, achlliing_ 14.07c Sudapest, pengo - 17.49c _ _ _ Prague, erown (nom.) 2.964c Warsaw gloty 11.22c Copenhagen, crown 26 8c 21.8JV?c Oalo, crown 26.8c 24.55c Eoekholm, crown 26,8c 26.19c ontreal, 7-84'';, premium. METAL MARKET. NEW YORK. March 20 OPi.—Copper •teady: electrolytic snot and future. 10 25; 17.00. Tin easy; apot and nearby, future. 63.00. Other metals ■OMinally unchanged. BONDS ON N. Y. STOCK EXCHANGE By private wire direct ta The Star. Approximate Transactions Today. U S Gov't Bonds_ 4.950,000 Foreign Bonds__ 790,000 Domestic Bonds_ 1.160,000 TREASURY High Low. Close. 2^8 1949-53- 99.11 98.25 9846 23*8 1945-47- 102.16 102.8 102.8 2 4. s 1948-61_ 101.6 100.18 100.18 24*8 1961-64_ 100.24 99.80 99.30 24*3 1956-69_ 100.22 99.80 99.80 2%s 196o-60__ 102.8 101.20 101.20 3s 1946-48 _ 104.9 103.26 103.26 3s 1951-66 _ 104. 108.10 108.10 146s 1946-49_ 104.26 104.16 104.16 3*4,8 1949-62_ 105.2 104.20 104.20 3 *48 1941 _ 108.6 106.6 106.6 3*48 1944-46 _ 106. 106.24 105.24 3 4, 8 1 9 40-4 3 June 106.26 106.20 106.25 34j,s 1941-43 Mar 106.13 106.10 106.12 3 44 s 1943-47 _ 106.12 106.12 106.12 34*8 1946-56_ 109.16 109.16 109.16 48 1944-64 _ 111.2 110.28 111. 4 *4 s-3 41s 1943-45 106. 106.24 106.25 4*48 1947-52 _ 115.20 116.16 116.16 FEDERAL FARM MORTGAGE. 3s 1947_ 102.28 102.24 102.24 8s 1949_ 102.20 102.20 102.20 HOME OWNERS' LOAN. 2*48 1942-44_ 100.4 100. 100. 24*8 1939-49_ 100.11 100. 100.2 8s 1962- 102.6 101.26 101.26 FOREIGN RONDS. High. Low. Clost. Ablttbl Pa&Pw 6s '53 86 84*4 9b Alpine Mont S 7s '65 99 99 99 Australia 44s 66_ 100 100 100 Antloqula 7s'45 C_ 164 154 164 Argentine 4 4s'71_ 98 4 98 4 984 Argentine £ 4s 62_1014 1014 >014 Argentine 6s 67 A ... 101', 1014 1014 Argentine 6s'59 June. 1004 1004 1004 Argentine 6s'69 Oct . 1014 1014 1014 Argentine 6a'60 May. 1014 1014 1014 Argentine 6s'60 Sept. 1014 1014 1014 Argentine 6»'61 May. 1014 1014 1014 Australia 6s 67_ 1064 10b 105 Belgium 6«'56_ 109 109 109 Belslum 7s 65 _ 1164 1164 U64 Bergen City 6s’60_ 99 4 894 994 Brazil 6 4e’26-'67_ 4*4 44 4 444 Brazil 64s'27-'67_ 434 484 434 Brazil 7s’52_ 434 42*1 424 Brazil 8s 41 _ 604 604 504 Brisbane 5s 68_ 994 994 994 Buenos Aires 44»-34s'77Py_ 764 764 76 Buenos A 4 Vis'76 Aug 7b4 76 4 764 Buenos A C 6Vi» '55... 1014 1014 1014 Bulgaria 7 4s '68 May coupon of£_ 26 26 26 Canada 24s'45__ 98 98 98 Canada 34 a'61 _ 97 4 87 4 974 Canada 4s'60 _ 106 1044 106 Chile 6a 61 Jan_224 224 224 Chile 6a '61 Febr_ 224 224 224 Chile Mbg Bk 6s'61_ 184 184 184 Chile Mtg Bk 64s 61. 184 184 184 Chilean Mun L. 7s '60._ U4 I84 184 Colombia 6s 61 Jan_ 36 86 36 Colombia 6s 61 Oct._ 344 844 844 Copenhagen »4s'63_ 974 974 974 Copenhagen 6s 52_ 98 98 98 Costa Hlca 7s A '61_ 36 344 35 Cuba 64s 45 ... 60 694 60 Czechoslovakia 8s’51. 104 104 104 Czechoslovakia 8s'52. 104 104 104 Denmark 54s'55_ 1014 1004 1014 Denmark 6s 42 _ 1064 1064 10*4 Frameric In 74s‘42 1084 108 108 French Gov 74s 41_. 1184 1184 H84 Ger C Bk A 6s 38 ._ 46 444 46 Ger C Ag Bk 6s'60 Oct. 34 34 84 GerCBkA7s 50._ 46 46 46 Ger Gov 64s'65 at 244 24 24 Ger Gov 54* 65 un st. 20 20 20 Uer Rep 7s '49 stpd __ 304 394 304 Ger Rep 7s 49 un st_ 214 244 244 Haiti b*'52 _ 984 98 98 Hung Con M 7s '46_ 29 284 29 Hung Con M 7 4s '45 unmat coupon on_ 29 284 29 Italy 7a 61 _ 87 87 87 | Ual P U t'rd 7s ’62_ 754* 764* 764*! Japan SHe’65- 80‘4 80'4 80** Japan 844a 64 _ 94 94 94 Karst6s’43 ct st prin_. 20 20 20 KreugAToll 6s'59 cts_ 464* 454* 454* Medelln 6 Hs'54 *35* 13s* *33^ Mex 4s 10-45 asst sm 74* 74* 74* Mex 4g'54 asst _ 64* *«.* ft*., Mex 5s'45 asst lge- 84* 84* 84* Milan 64*s 52 734* 734* 734* MinasGars 6 4*s '59 Sent coupon on_ 27 27 27 Montevideo 7s'52_ 654* 66'* 654* New So Wales 5s '57.. 102 101*110141 Norway ,44R,65 -101 lot 101 Norway 44*e '56 J024* 1024* IC24* Norw Hy El 6Ha'67.. 1004* 1004* 1004* Oriental Dev 6 44s'58. 72 72 72 Onenta| Dev 6s '53 ... 784* 78 7841 Oslo G & E 5s 63- 1014*1014*1014* Paris OrlP.y54*s'68. 101 101 lot Paulista Ry 7s '42_ 90 90 90 Peru 6a 60 - 224* 224* 224* Peru 6s 61 - 224* 224* 224* Poland 6s'40- 5* B3 53 Poland 7s 47 - .. 65 6« 66 Porto Alegre 74*e '6# July coupon off - 274* 274* 2T4* Queensland 7a ’41 _ 1104* 1104* 1104* Rhine W El P 6s'62_ 20 20 20 Rio de Jan 6 4, a 58 Aug coupon off- 284* 284* 284* Rio de Jan 89 46 April coupon off_ 824* 3244 3*w Rio Gr do Sul 7e '67 * H June coupon off_ 27*4 2742 27U Rome 6 44s '62 _ 7S4 UH Rumania 7a'49 H Au* coupon off- 324* 82** 3*4* Sao Paulo C 8a '53 coupon off _ 32 32 j2 Sao Paulo St 6a 88 July coupon off_ 274* 27 27 Sao Paulo St 8s '60 July coupon off _ 384* 884* 814* Serbs 7a '62 unm c o._. 80 30 30 Serbs 8s '62 unm c o .. 314* 8P4 3144 Shln'su El P 644s'52.. 85 85 85 Trondhlem 54ta'57... 1024* 1024* 102U Toklo 5S 52 _ 65 65 66 Uruguay 6a 60- 66 654* 654* Uruguay 6s 64- 661* 664* 6St* Warsaw ?s 68_ 45 45 45 Tokohoma 6a 61- 814* 8)H 8lH DOMESTIC BONDS Adams Express 4* '47 104 104 104 Adams Express 4s'48 104 104 104 Alb Per VV P 6s 48_ 714 71U ?iu Alleacorpn. 4 4 ..... ^ 978? ■' eeCorpfis 49 ... 82 Alloa Corn 6a'60 stp . 66 66 66 A lied Stores 4 84s'60 100 994 9984 Allied Stores 484s'61. 984 9*14 98U Am & For Pw 6s 2030 8014 SOB 80V4 °,Cth, f H* 49 >°7>i *°74 10784 B^’8 49 10&4 106B 10684 Am Tel & T#l 3 8is 81 984 9884 984 Am Tel A Tel 3 84 * 66 9884 9884 9884 imI*5:4*B 39 10«H 10684 10684 AmTAT 684» 43 118B 118 lu Am Writ Paper 6s 47 83 83 83 Am Writ Pa Bs 47 ofs 824 824 824 Anaconda deb 489s’60 10684 1064 1064 Armour A Co 4 84s '39 1084 1084 1084 Armour! Del) 1 st 48’66 964 95*4 9684 Armour* Co Del 4s 67 964 964 «6B Armstrong Ck 4s '60 1064 106 105 AtlaACh A L 6s ’44 _. lull 1114 1114 * F* gen 4* 95 - 1084 108 108 A TAS Fe 48 '05-’65 . 107 107 107 A TAS Fe ad1 4s 96 at 104 104 104 Atl Coast L 1st 4s '62. 102 102 1V2 AtlC L un 4 84s 64 .. 94 94 94 Atl Coast Line 6s '45 . 104 4 1044 1044 Atlantic A D lst«s'48 664 644 664 Baldwin Lo 6s'40 asst 1064 10684 1064 BAD 1st 48 48 - 108 106*4 106 BAG 489* 60 - 80 794 794 B & O 1st 6s 48 ... 1104 1104 1104 Balto A O ref 6s’96 A. 92B #14 9184 B AO 6s 98 F ... 904 904 904 B A O ref 6s 2000 D_ 904 #04 *04 B A O ref 6s 96 C_1014 101 101 B A O 8wn 6s 60 _ 1044 103 4 1034 B A O Toledo 4* '69_ 984 #24 #24 Bell T of Pa 6s 48 B._ 1184 1184 1184 Beth Steel 3 84 s'66_ 96 9484 #6 Beth Steel 4 84 a'60_ 1034 1084 1084 Bos A Me 4 84 s'61 J_ 824 *24 *24 Bos A Ms 6s'65_ 88 874 874 Bos A Me 6s'67 _ 8«4 8«4 864 Bot Con M 6 84a '34 ... 344 ** 34 Bklyn Ed con 100 100 100 Bklyn Man T 4 88 * 66. 99 4 #9 994 Bklvn Un El 6s'60 ... 1094 lo#4 1094 Brown Shoe 884s'60.. 1064 106 106 Buff G E 48iS'*l B... 1094 109 109 Buff HAP con 4 88s'67 97*4 8784 874 B C R A N cl 6s '34_ 28B 28 28 Bush Term con 6a'66 724 724 724 Can dian N R 488a '66 1104 1104 1104 Can dian N R 4*4*'66. 1184 1184 1134 Can'dlan N 6s'69 July. 118*4 USB 1184 Can'dlan N 5s’69 Oct.. 116 1144 1144 Can’dlan N R5s'70_ 114B 1144 1144 Can dian Pdb 4s perp 90B #0 904 Can'dlan Fao 488* 60. 1024 1024 1024 High. Low. Close. Caro Cl A O 6s'52 A... IO84 108!* 108!* Cent of Ga con Kg ’46.. 824 32 S2 Cent of Ga 6s '69 C 22 22 22 Csnt of Ga rf 64s‘69. 214 214 214 Cent 111 E & G 6a '61 .. 108 103 103 Cent of N J gen 6s'87. 724 724 724 Cent Pao 1st rf 4a'49 1074 107 107 Can’dlan Pao 6s'44 cfa U04 1104 1104 Can'dlan Pac 6s '64_ 1075* 1075* 1075* Cent Pac fis'60 _. 100 99’* 100 Cent RR B Ga 6s'37... 98 924 98 Cert'd deb 6 4s’48 _ 90 90 90 Champ FA F 44s'60. 1085* 10651 106'* CheaapCorp6a 47_ 1294 139 1891* CheaAOSHs 96 D.._ 96 964 964 Ches A O 34s 96 E... 965* 96H 86** C & O gen 4 4a '92 .. 1164 1164 1164 C A O RAA 1st 4s’89.. 114 114 114 Chi A Alt ref 3s 49 ... 66 664 664 Chi BAQ1 div 3 4s'49— 108 107!* 107!* Chi B A C gen 4s '68 . 1085* 108’* 1084 Chi B A Q 111 dv 4s '49. 1094 1094 1094 Chi A E 111 6s '61 ... 42!* 414 414 Chi A E 1116s’61 ctfs.. 411* 414 414 Chi Grt West 4s '69 . 48!* 48 48 Chi Ind A L. gen 6s ’66 . 22 4 22 4 224 C M St P 4s ’89_ 62 4 62 62 CllAStP gn 4!is’89 C. 665* 664 664 CMASt P6s 76 384 324 824 CM&StPAPadJ 6s2000 12 115* 1 15* Ch &NW gen 3 4s'87.. 42 4 42 4 424 Chi & NW gen 4s 87... 47 47 47 Chi A NW 44s 2037 ... 38);- 38 4 38 4 Chi A NW 44S 2037 C. 88 4 83 4 33,4 Chi A NW 46** 49 224 22 22 Chi A NW gen 6s '87_ 60 495* 60 Chi ANW rf 6s 2037.. 84’* 845* 345* Chi R IAP rf 4s'34_ 235* *84 235* Chl R IAP rf 4s'34ctf_ 21 20!* 204 Chi R IAP gen 4s '88 .. 40 895* 894 Chi RIAP gen 4s'88rg. 38 33 38 Chi R IAP 448 '52_ 224 224 224 Chl RIAP 44s 60_ 184 13 18 Chl Un Sta 3 4s'61 1044 104 1014 Chl Un Sta 34s 63 E. 104 1085* 1034 Chl Un Sta 4s'44 _ 1064 1064 1064 Chl A W incon4s’62. 1014 lul4 1014 Chl A W Ind 4 4 s 62._ 1004 1004 1004 Childs A Co 6s'43 81 67 87 On Un Ter 34s D gtd 101 101 101 CCCASt L ref 6s '63 D 1024 10*4 1024 CCCASt L rf 4 4 s '77 E 945* 94 94 CCCASt L ref 6s'41 C. 104 104 104 Clev Cliffs Ir 48*s '60. 1074 1074 1074 Clev El 111 354 s'65 . 1064 1064 1064 Clev Short L 4 4s '61.. 1095* lt95» 1094 Clev Un Tel 4 4s'77 lui8* 101 lul Clsv Un Term 6s '73 B 1064 1064 1004 Clev Un Ter 64s'72a 1105* 1 105* llu4 Colo A So 4 4* 80_ 71 71 71 Columbia G & E 6s 62 May. _1024102410241 Cornel Credit 3 4s'51. 95 95 95 J Com Inv Tr 3Vis '51... 984 994 994 Cons Coal Del 6s '60... 714 70 71 Cons Ed NY 3 V*s 46 n. 104 104 104 Cons Ed NY 3 4s '56 n 1084 lo3 106 Cons Uas NY 44s’51. 106 4 1054 1064 Consol 011 84s’61 .. 104 1034 IU84 Consum Fwr 4 Vis 66__ 984 984 984 Cons P\rr 84s’70 ... 1004 1004 1004 • Crnsum P un 34s'65. 1034 1024 102**1 Consum Pwr 3 V*s '65_. IO64 1064 IU64 : Container deb 6s 43... 1014 1014 1014 Container 6s’46_ 1024 1024 1024 Cran»Co34s 61_ 98 86 98 Crown Will P 6s '51... 10*4 1044 1044 j Dayton P&L 34s '60.. 1024 102V* 102*, Del & Hud ret 4s'43 _. 914 90'* 80'.* Den & R U con 4S'36.. 8*4 3*4 84**' Den 4RGW 6s 65 20 20 20 j Den & RGW 6s'5aasst. 194 194 194 1 Den A R G ref 6s’78.. 29 29 29 Detroit Ed 4s 66 F .. 1084 108 108 Duques Lt 44s ’67 B_. 103'* 1034 1034 j E T V A Ga cn 6s ’66.1154 1154 1164 Erla ref 6s 67_ 84', 84 844 Erie ref 6s 76 ... 844 84 84 Erie & Jersey 6s'55... 118 113 118 Falrbks Morse 4s 56.. 1014 1*14 1014 Fie E C Ry 4 4s'59 814 814 811*! Fond J & R 4e 82 filed 6V, 64 «4 Gen Cable 6 4e 47_ 1054 1054 1064 Gen Mot Acc 3B 46_ 1014 1014 1014 Gen Mot Aes 34s’61.. 1004 1004 1004 Gen St 1 Cast 64s '49.. 92 914 914 Goodrich 4 V* a'66_ 98V* 98** 98** Goodrich 6s 46 _ 1064 lus 106 Goodyear T&R 6s '57 IO44104 104 Goth Silk H 6s’46 ww 102 1014 1014 Great N Ry 4s 46 G _ 131 181 181 Great N Ry 4s 46 H 109** 1094 1084 Grt N R gen 4 4s'76 D 104** 1044 104'-, Grt N R gen « VjS'77 E 1084 1034 1084 Grt N R 64s 62 B_115»* 1154 1144 GulfM&N6s'60 _101 101 101 Gulf M & N 6 4s’60 . 1064 106 1064 Gulf States Util 4s '66 101 101 101 Ho# (R) 1st mtg '44... 93 93 93 Hudson.Coal 6s 62_ 464 46 464 Hud * Man lno 6s’57.. 84** 344 84', Hud A Man rsf 5s '57.. 78'* 78 784 111 Bell Tel 34a’70... 1024 1024 1024 til Cent col tr 48'53_ 854 864 864 111 Cent ref 4s '65_ 894 894 894 til Cent 4***s 66_ 76'* 754 764 111 Cent ref 6s’55_101 100V* 101 ICC&StL N O 6t '63 __874 874 874 Ind 111 A Iowa 4s ’50_ 105 105 105 Inland Stl3\s 61_102 1014 1014 Interlake 6s ’51 ... 1024 102 102 Int R T 1st rf 6a '66 .. 93V-, 92’* 924 1 R T 1st rf 6s '86 ctfs. 91»* 91!* 91** Int R T 7s 32 _ 844 84 84 Int Grt Nr 6s 66 B_ 37V* 374 37»* Int Grt Nr 6s'62 A_ 38 88 38 Int Crt Nr adl 6s'52 A. 16T* 154 164 Int Hydro Elec 6s 44.. 794 79,4 794 Int Mer Marine 6s '41. 824 82V* 824 Int Pap 1st 6s 47A_100** loo** ion»4 Int Pap ref 6s '66_ 99 984 98** Int TAT cy *V4s'39_ 84 84 84 Int TAT 44# ’52- 684 68 684 Int TAT 6s 65 _ 73V* 78 78 Iowa Cent lstArf4s’Sl. 74 74 74 James F A C 4s '39_ 96 »6 96 Kans C F SAM 4s 3»„ 618* 61 8H4 Kans C So 1st 3s 60 _ 8784 8714 8714 Kans City So ref 6s'60 961* 96V* 9*4 Kan C Term 1st 4s'60. 10714 10714 10714 Kans G aE4 8*s'80_ lot lot lot Keith 6s'48 . 9814 9814 9814 Kinds C L 1st 6**s'64 11614 11514 11614 Kreste Found ts 45 1068* 10884 106H Laoleds G 61*s 60 D_60** 601* 6014 Lacleds G 684a'63 C_ 601* 601* 60)* Laclede Gas 6s'42 A._ 68 68 68 Leh V'al Coal 6s 38_ 99*4 99** 991* LV NY 41*8 40 Rtd ... 10214 102 10214 Leh V P con 4s 2008 .. 6484 6484 6484 Leh V Peon 484s 2003. 7084 701* 70H LlRR A Myers 6s’51__. 122)4 1221, 12214 Loew s 3 84 s 46 _ 98 98 98 Lone isl ref 4s'49 ___ 100*4 100*4 100*4 LonR Igl unlf 4s 49_104** 10484 10484 La A Ark 6s'69 __ 9684 94^ 95 LA Nash 3 84s 2003_ 93 98 98 LAN unif 4s 40- 10684 1 0584 1 0584 L A N 4 84 s 2003 C_104}* 1041* 104)* L A N 6s 2008 B- 10714 107 107 McKessARob 684a’50. 103 108 103 Marlon St Shotr 6s’47. 98 98 98 Mead Co 6s'46 . 10684 10684 10684 Mil El RAL 6s'61_103 1021* 1021* Alinn A S L rf 4s'49 7 7 7 Minn A St L 8s'S4 ctfa I8J4 19 19 Minn A St L 5s'82 A__ 614 614 61* MStPASSM cn 4s'38 . 8OI4 29H 291* MStPASSM 6s'38 Rtd. 81J* SI’* 81’* MStPASSM 684a’49_ 28!i 281j 23** Mo K AT 1st 4s 90_ 88 871* 871* Mo K AT 6s'62 A_ 83 83 83 MoK A T adj 6s’67_ 76 76 75 Mo Pae 4s'75 _ 22 211* 2184 Mo Pao 6a ’86 A- 4284 421* 4214 Mo Pae 5s'77 F_ 421* 42 42 Mo Pac 6s '78 G_ <284 4214 42)* Mo Pao 6s '80 H_ 43 48 43 Mo Pac 6s'81 1_ 4214 42 42 Mo Pac 68*s'49 A_ J8V4 1784 18 Mohawk A M 4s ’91_ 92 92 92 Monona Pub S 6s'65 10684 10684 106*4 Montana Pwr 3%s'66- 948* 941* 948* MorAEssex 81*s 2000 87J* 878* 878* MorrisAEssex 4 8*s '66 91J* 9184 »18* MorrisAEssex 6s ’65 . 988* 9884 988* Natl Dairy S^rBlww 10414 1J3T4 lot Natl RM 1st 4s'51 asst 4I4 4H 454 Nat Ry Mex 4%s’B7 as 414 414 414 Natl Steel 4s 65 ... 1O8I4 108 108 NswET&T 4Hs’«l-- 11714 11714 11714 New J#r PAL. 414s 60. 105*4 10614 1OBI4 New Orl P S 6s'52 A.. 9854 9814 9814 New Orl P S 6s'55 B _ 98*4 98*4 9814 New Orl Ter 1st 4s'53 9414 *414 9414 N#w OrlTAM 414S '56. 6414 6414 6414 NSW Orl TAM ts '61 B 65 66 65 New Orl T&M 814s'54 89 68 69 NOTAM 6H»'54 B cfs. 6114 61)4 6II4 NT Central 314s 97 9614 96 96 NT Central 3% s *46_ 102 102 102 NY Cent 4s '42 _10711 107*4 107*4 NY Cent con 4s '98__ 9814 9714 9714 NY Ctnt rf 414S 2018.. 92 »1H 91H NY Crf 414s 2018 n_ 9254 9114 9214 NY Csnt rf 6s 2013_ 9814 98 98 NY Cent cv 6s 44_ 180 128)4 129 NYC&St L. 1st 4S '37_101H IOH4 10154 NYCASt L 414s'78 9214 92 92 NY Chi A St L 6S'38_ 100 100 100 NY Dock 6s'3* __ 6114 6114 61)4 NY G El HAP 4s 49_11414 114 114 NY L. A W 1st 4s 71_ 100 991*100 NY NH A H 314s'56_ 4114 411* 41H \Y NH A H 4s 67 _ 82 82 82 NY NH A H 4148 ’67_ 48 4714 47H NY OAW ref 4s 92___ 81 81 81 NY & Rich G 6s '51_ 107 107 107 NT Tel (ten 414s 89_ 10714 1071* 10714 NY W A B 4%S ’46_.19 19 19* High. Low. Cloaft. Nla* Falls P 3*4« '66- 102H 102}$ 102}$ Nlag Sh 614*'60 _10844 108*i 108*4 Norf So 1st Ds'41_ 77 77 77 Norf & W 1st 4s'9*.._ 118 113 113 North Am Co 6s 81 . 104 108*4 104 North Am Ed 6s’57 A. 108 108 108 North Am Ed 514* ’63. 103 10214 103 Noi-n Pac gen 3s 2047. 7214 7114 7114 NoPn Pac 4s'97 ... 108 1 0244 1 0244 Nor’n Pac 4’4s 2047 ... 9*14 9914 99>4 North Pac 5s 2047 C-_. 103 103 103 North Pac 6s 2047_11014 110J4 11014 Ogden LC 4s ’48 2814 2814 2814 Ohio Edison 4s’65__ 10244 10244 10244 Oreg W RR 4s'61 _ 106 104H 10414 rac Gas & El 8V2s'68. *744 97'i 9714 Pac G & E 844s'61_ 10114 100*4 10044 Pac G ft E 4s '64 . 10414 104 104 Pac T&T rf 814 s'88 B. 10044 100 100 Pac TAT 3 *4* '66 C .. 10014 10014 10014 Pan Am PC 6s'40 ctfs. 4914 4914 4914 Para Broadway 3s ’66. 7444 74*4 74*4 Paramount Pto6s’66. loop, 10014 10014 Penn Co 4s ‘62 E_ 10814 10814 10814 Penn Co 4s '63 10014 100 10014 Penn Glass & S'60_ 10614 10614 10514 Penn O & D 4 44s'77... 10844 10344 10844 Penn P&L414* 81_ 10514 10614 10514 Penna R R 3 *4 s w.l,_ 109*4 109 10914 Penn RR 3 94 s 70 C_ 9844 97>4 9714 Penn RR con 4s 48_ 11114 111H lllH Penn RR cn 4s'48 «tp_. 11844 11314 11314 Penn RR 4 14 s '81 D_ 10414 10414 10414 Penn R R 4 44*'84 ___ 104*4 10414 10414 Penn KR gn 414* ’66— 10714 107H 10714 Penn RR deb 4H»’70. 101 100 100 Penn RR gen 6s’68 . 11414 114 114 People OL&C rf fis’47. 112*4 112*4 112*4 People G E&C 8s'43.t. 11914 119*4 119»i Psre Mara 1st 4S 66.9614 *514 9614 Phila Co 6s 67 _ 10414 104 104 Phila & R C&l 6s'73_88V4 88 8814 Pnila & R C&l 6s 49._ 1614 1*14 16*4 Philippine Ry 4S 37_ 26 26 25 PCC&St L 414 s '77 C . 106*4 10614 10614 Pltts&V7 Va »V,s '60 C #0 90 90 Port Gen El 4>4s 60._ 66I4 66 6614 Postal Tel & C 6s'63 . 36 84*4 84I4 Pototnac El P3V«s'66 10214 101'4 101’4 Pure 011 4 14*'60 aw._ 1031* 10814 10314 Pure 011 4 14e'60 ww.. 119 lit 119 Purity Raking 5s >48 .. 10014 IOOI4 10014 Reading R 414*'97 A 10614 IO6I4 IO6I4 Rern-Rand 414s'6«ww 107 107 107 Republic Stl 4*4*'60.. 194 190*4 194 Repuhllo Stl 414*'66.. 97'4 974 9714 Republic Stl 414* 61_. 9714 9714 9714 Republio Stl 6*4s'64 .. 120 119 12(1 Richfield O 6s’44 ctfs 67 67 67 R G W 1st ez In 4e'39. 76 76 75 Rio G W col 4S 49 A_ 49 49 49 Roch G&E 5s '62 E_ 10814 10814 10814 Rutland RR 414*'41._ 30 30 80 Sapuenay Pw4 % s'BB . 1004 1004 1004 St Jo Hy E TAP 6b '37. 100 100 100 St 1, 1MAS RAG 4s'33. 831* 83 83 St EIMASRASIsMSct. 82 82 82 St r,-s r-’ran 4s '60A .. 844 88>, 334 8t L-S F 41'60 A ctfa.. 804 304 804 St E-S Fran 44a '78_ 304 304 804 St E-S F 44»'78 cf «t_. 264 264 *64 St E-S F 6s '50 B ctfa.. IO4 29*, 294 St E S W 1st 4s'89 .. 924 914 #14 StLSWen rfSs’SJ.. 494 494 494 St PKCSL4 4 ■ 41— 234 234 2.34 St P MAM ex 4s'37 ... 101'4 1014 1014 St P MAM ext 6s'43 ... 102*, 102*1 102*, St P Un Den rf 6s '72.. 115 111 115 San AAA Pass 4s 43. 100*4 100*1 100*4 San Diepo CGAE4s‘65. 107', 1074 1074 Schulco 64s 46 B atp. 874 a?4 374 Seahd A L ref 4s ’69... 174 17 17 Seabd A Lad.) 6s '49_ IP, 114 114 Beahd A E 6s 46 A _20*. 204 204 Seat'd A-Fl 6s’S6 A ct- 124 12 12 Shell Un deb 3 4s'51.. 97 96*, 96*., Silesian Am 7s 41_ 72 72 72 Skell v 011 4s'61 96*, 984 *84 Socony Vac 3Ua '60 . 103 102*. 103 Sonrh Bell TAT 6s'41 1064 1064 IO64 Southn Cal Gas 44 '61 105*-, 1064 105*1 So Pac 3 4s 46 _ 99‘, 98*, 99 So Pac ref 4s 66_ 104 1034 104 So Pac 44s'68_ 924 92*1 924 So Pac 4 4s’69_ 924 92 92 Bo Pao 4 U s 81 _92'. 92tj 924 So Pao Orep 4 4s '77_ 96** 96 964 So Ry pen 49-66 A_ 824 82 82 So itv 6s '94 - 1084 108 108 Bo Py pen 6a ’66_108 1024 103 80 Ry «4s ’56 - 1064 1054 1064 S0itvMAO4s’38 984 93’1 934 Soutn w'n GAE 4s 60_ 99 4 99 4 994 Stand Oil N J 3s'61 ... 874 96*1 97 Studehaker ov «s 45 — 142 1404 141 Swift A Co 3 -4 s '60_ 1044 1044 1044 Tenn El Pw 6s '47 A_ 984 98 93 Term A«Ht E 4S '63 ... 106 10* 106 Texas Corn 34s 51 .. 1014 1004 101 Tex A Pac 1st 6s 2000. 118 118 118 Third Av ref 4s 60 68»* 68»< 684* Third A ad In ox 5s'66. *84 874 88 Tol A Ohio C 8 K s '60 _. 102 1 02 102 Tri-Conti Corn 6s'53 .. II84 1184 1184 Un OH of Cal 34s’52. HS4113 1134 Un Oil Calif 6s 42 A _ 1184 1134 II84 Union F'ac 34s’70_ 96*, 954 954 Un Pac 3 4s '71 - 954 954 954 Un Pac 1st 4s 47 - 111 1104 1104 Un Pac 1st rf 5s 2008.. 1124 1124 1124 United Biscuit 5s’50.. 106 106 106 United Dru p 6 s ' 5 3_ 100*, 100*4 100*4 U S Rubber 6s'47 _IO64 106 106 Utah E A T 6s '44 (A). 101 4 101 4 1014 Etilh P A L 6s’44 ... 108 1024 102'4 Util P&L 6s 59 ww_ 6I4 614 614 E til P A L 6 4s‘47- 614 614 614 Vanadium cv 5a 41... IO84 1074 1074 v',r,-SiRJ8t7s'42ctfs- 80* 8<’H 8o4 Va K A P 1st ref 48'55. 1064 1054 105U Va Rv 1st 38is ‘66 A.. 102*. 102 102 \ a S W con 6s ‘58- 994 994 994 Wabash 44s'78_ 42 42 42 Wabash 1st 6a'39_101 loi ,01 Wabash 6s‘76 B_ 42 42 42 Wabash 6s 80 D_ 42 4iu 4114 Walworth 4s 66. 82 814 g,u Walworth 6s ’65 n- 964 96 4 96U V\ arner Bros cv 6a '39. 9* 96 95 Warner-Quin 6a‘39... 61 604 61 VVarren Br cv 6s 41... 70 68 70 West Penn P 3 4a'66. 1084 IO84 10814 West’n Md 1st 4s '62— 1004 100 loo West n Md 64s'77 IO64 1064 IO64 Westn fMFAPpn 4S'43 1094 1094 1094 West n Pao 6s 46 A 89 38C 89* West'n Pao 6s 46 A as 37** 174 37*4 West n Un 44s 60- 1054 1054 1064 West'n Un 6s '51-1054 1054 WeafnUnS.'OO ... 1054 1064 1054 VVheel Rteel 44s‘£3_. 1004 100 iooM White Sew M 6g 40 . 1044 1044 10444 w Snstlcon 7s'35et. 42 42** 42H Wilson A Co 48 66 .. y»'4 9914 Wis Cent 1st gn 4a '49. 27 27 27H T npstnS&T 34a'Bl_. 148 146 4 14* T’npstn SAT 4a'61—" too 994!^ insurance stocks Security B,/ Addition?"'~N,W York as»"«!.).# m Aetna Life (1> . - S 4 ^V‘ Am Equit (1.60) * I 4-» 4r Am Ins Newark (Via)* " 1314 Am Reins (3) - 'Aj Jg Am Reserve (la) .3,d Am Surety (2%) ~ 5314 if, i7 Automobile (lai ii” Si/2 Balt Amer (.20a) Zi: ; K aS Carolina (1.30) o~3/. „Si/ City of N Y (1.20)- oil' sS# Conn Oen Life (.80) 3014 if,/4 Contln Cas (1.20) - 30 4 IS*4 Fid * Dep IIbi _ 13] 14 13414 Firemen s Newark 1A1 * Frank Fire (la) . - 30% I Gen Reinsur (2) _ ;i“ ' 47 4 2p G en Falla (l.flO) 4r JS R °.be * <-80> _ 22% "4% Globe * Rut ___ 74 * 3~ 4 Great Amer (la) ‘ 2*1, &{,v Hanover (l.BO) _ ” .373? 3 04? Harmoma 11,30) •!734 Hartford Fire (2> 70 ’' A '* Honj* Fire Sec uu Home Ins (lai 4014 4.iv4 S,r;;n ” *H mu w??d(2? ’r gg^ g«* Natl Liberty ( 20a) _ 314 ,j w * -01.n vp a?iV^aV46*> Ik Prov Wash (1) : ZZZZZZZZ 311% 4,1? 6t, Paul Fire (fl) _ _ ona 4 0,3 4 SnrlnefleM (4%a) _ 12fl 1«0 ::::::::: SSV Westchester *( 1.2081 _ZZZZZ 35V? 37V? —Also extra or extras, g—Declared or paid so far this year. FOREIGN EXCHANGES. NEW YORK. March 20 (JP).—Foreign exchange steady; Great Britain In dollars, others in cents: Great Britain, demand. 4.8S',.j: cables. 4,88%; UO-day bills, 4.8711 France demand 4.50'/s; cables. 4.50%; Italy, demand. 5.20%; cables. hAfl'/t. Demands—Belgium. 16.84%; Qermany. free. 40.2.1; registered, 20.00: travel 2.1.85: Holland. 54.72; Norway. 24.55; Sweden 25.10: Denmark, 21.81: Finland, 2.17: Switzerland. 22.77%; Spain, un quoted: Portugal, 4.45%: Greece. .00: Poland. 18 iiti; Czechoslovakia. 8.40; Yugo Jr:,4; Austria. 18.70n: Hungary, 10 80; Rumania. .75: Argentina^ 82.5fln: Brawl. 8.80'/*n: Tokio. 28.51: Shanghai, 20.85: Hongkong, 80.42; Mexico City. 2, 80: Montreal In New York. 100.09%; New York in Montreal. 00.00%. n—Nominal. MONTREAL SILVER. MONTREAL, March 20 OR.—Bllyar fu tures closed steady, unchanged to 25 lower No sales. March. 44.90b; May. 44.80b, July. 41.75b. b—Bid. Prices Off $2.50 to $3 a Bale After $10 Gain Over February Lows. By th« Associated Press. NEW YORK, March 20 — Additional rallies of about $3 a bale in cotton early this week were loet under heavy realizing and liquidation when reac tionary sentiment developed. Prices declined $2.50 to $3 a bale from the best after advances had carried the market approximately $10 a bale above the February lows. A weaker technical position, fears of a larger acreage and official concern over the rapidity of the advance In commodities accounted for the loss. May contracts reacted from 14.49 to 13 90 and closed yesterday at that figure, compared with 13.87 a week ego. The rise ended with cessation of trading in March contracts on Wed nesday. That delivery had led the rally from a mid-February price of 12.53 to 14 87, the highest level since June, 1930. Tightness in the spot market and prompt stopping of all March notices by spot interests con tributed to firmness of the near month. Large domestic and world consump tion figures indicating use of cotton in the first six months of the season at an annual rate of about 29,000,000 bales also influenced sentiment. Selling in other deliveries developed when March ceased Washington ad vices Indicating agricultural officials were concerned over prospects for larger cotton acreage increases, poe siblv as much as 15 per cent above 1936, as a result of the sharp advance in prices, seemed to bring in selling. Quieter conditions developed in spot cotton and cotton goods markets. While the basis held steady on de sirable grades, some easiness was re ported for low-grade cotton. Less ac tive demand for textiles reflected the well-supplied position of buyers, re luctance of seller* to take additional contracts in view of prospects for higher production costs and differ ences of opinion between buyers and sellers on a strike protective sales clause. CHICAGO GRAIN By A»sociaied Press. CHICAOO. March 20.— Buying that | rallied wheat prices 2 cents a bushel j today was attributed to fresh evidence ! of tightening world supply-and-de- j mand conditions believed favorable ! for the United States’ free entry to t the export market this Summer. i Recovering more than half of yes- 1 terday's break. May wheat rose to an early high of S1 381«, and July went to I $1 24',. With Liverpool prices stronger than expected, attention centered on a new j and apparently official report that the j Argentine Grain Board was alarmed j over heavy wheat exports and might ) enforce restrictions. One estimate In- ! dlcated that by the end of April only i 31.560,000 bushels would be left for 1 export from Argentina. Near exhaustion of Southern Hemi sphere supplies, traders said, would give Canada temporary dominance of the export market before United States Winter wheat becomes available. Early reports from the Southwest showed no rainfall in addition to that received yesterday, mostly in Nebraska and Northern Kansas. Advices con- ! tinned to emphasize need for ram ’ throughout the wheat belt from Texas to Canada. It was pointed out that i although Spring wheat seeding inten tions indicated a much larger acreage would be sown than was harvested last year, the planted area actually would be smaller than a year ago. Corn prices advanced only a minor j fraction. One commentator sug gested that liberal movement of Ar gentine corn to Chicago was possible this year after the opening of lake navigation. Oats and rye advanced with wheat. I Provision* showed little change. Around midseason wheat was 14 to 2% higher, compared with yesterday'* finish; May, 1.38'*: July, 1.24 4. And corn was % to 1 cent up; May, 1.104; July, 1,06 4. ■ 1 ■ ■ - CHICAGO STOCK MARKET CHICAGO. March *10 14b— Following la the complete official list of transactions In stocks on the Chicago Stock Exchange today: Sales. STOCKS High. Low, Close. 850 A & K Pet A ._ 74 7'/« 74 00 Adams Mfg.. ._ 134 13 134 200 Adams Roy _ 10 10 10 loo Advance Alum lot. 10% 104 oO Altorfer Bros pf 41 41 41 20 Am Pub 8vc pf 70 70 70 1200 Armour & Co 124 124 124 2000 Asbestos Mfg 44 4 4 v. 300 Auto Wash cv pf 0 0 6 450 Backstay Welt 174 174 174 100 Bastian-Bless __ 21 21 21 looBerghoff Brew 114 114 114 loo Sinks Mfa 134 134 134 15o Bliss A Laughlln 414 41 414 50 Borg-Warner 80 So 80 50 Brach Ac Sons _ 214 214 21 4 loo Bruce cE Li 274 *74 *74 450 Butler Bros . 104 104 104 100 Castle A M 374 37 37 30 Cen 111 Pub Be pf 734 731, 734 lOOCen 111 Sec 24 24 2*4 750 Cen & S W Ut 44 44 44 tioCen Ac 8 W $7 pf 724 72 4 72 4 20 Chain Belt 09 4 094 004 2300 Chl Corp .... 0 5’/. 54 Corp pf 45*. 454 454 100 Chl Flex Shaft 00 00 09 50 Chl Yell Oab 224 224 2°4 700 Cities Serv 44 44 44 200 Com'wlth Edis 11941104110*4 50 Consumers 64 Pf 0% 94 94 450 Cord Corp 44 4% 44 10 Crane pf 1171.1174 1174 50 Cudahy Pack pf 110% 1104 1104 200 Cunn D Strs 23 23 23 50 Dayton Rubber A 304 004 304 30 Dexter Co 15 15 15 300 El Household 84 84 84 50 Elgin Nat Watch 384 384 384 100 Fill Simons A C 10 10 10 150 Gen Finance . 44 44 44 200 Gen Household 04 1)4 84 lSoGoldblatt 404 40 40 100 Ot Lakes Dredge 23V. 234 234 10 Harnischfeter 18 18 18 looHeileman <61 Br 0% 94 94 70 111 Nor Ut pf ..107 107 107 loo Iron Fireman __ 24 24 24 50 Jarvis IWB) ... 254 254 254 50 Katz Dru* 144 144 144 400 Kellogg Switch 10% 10V, 104 20 Ky Ut Jr cum pf 37 37 37 150 Ken-Rad T Ac L 244 244 244 50 Kingsbury Brew 24 24 24 50 La Salle Ext _ . 3 3 3 200 Leath Ac Co_ 04 04 94 000 Lion Oil Ref ... 104 104 194 100 Loudon Pack_ 44 4% 44 550 Marsh Field . 274 27 27*i 150 Merch Ac Mfrs A 04 0 04 800 Mid West Corp 124 124 124 200 Mid W Corp war 54 54 54 100 Midland Unit pf 94 » 94 80 Midi Util H7< Pi 7 V, 74 74 50 Modine _ 40 40 40 900 Nat Leath 14 14 14 200 Nat Pres Cooker. 1H4 10V. 104 50 Nat Rep Inv pf.. K 8 8 100 Noblltt-Sparks 50 484 484 100 Nor Am Car 74 74 74 10 No West Ut pi 75 75 75 20 No West Ut 7% pf 43 43 43 450 Norwe.t Bancorp 134 13 134 50 Parker Pen 20 20 20 280 Pictorial P Pack 04 04 04 150 Pines Winter ... 3 2% 3 50 Potter Co. „ 34 34 34 inn Public Svc n p__ 84 84 84 20 Quaker Oat, ... 1194 1194 1104 100 Rath Pack 374 37 374 100 Raytheon vtc 0 0 8 50 Sangamo El __ 884 884 804 250 Serrick Corp B 134 134 134 300 Slgnode Steel 30 344 30 10 Sivyer Steel Oaet 25 25 25 200 Std Dredge 44 44 44 50 Std Dredge pf . . 174 174 174 150 Swift Ac CO . ... 274 274 27% 100 Util A Ind _ IV. 14 14 10 Viking Pump ... 23 23 23 550 Walgreen ... 314 304 30% 300 Wise Bankshrs. 104 10 10 50 Woodal Indust _ 124 124 124 200 Zenith Rad 354 35V. 354 BONDS. $4000 Chl Ry 5s'27 ctfs 71 71 71 Total stork sales today. 77.000 etiaree. Total bond sales today. S4.000. Railroad Orders For New Cars Hit Peak Since 1926 Class I railroads on March 1 had 42,212 new freight cars on order, the Association of American Railroads an nounced today. This was the greatest number on order on any corresponding date since 1926, when there were 50,947. On March 1, last year, the railroads had 12,679 cars on order, and on the earns day two years ago there were 514. Class I railroads had 375 steam locomotives on order on March 1, this year, a larger number than on any corresponding date since 1930, when there were 450. New electric and Diesel locomotives on order March 1, 1937, totaled 10. New freight cars placed in service In the first two months this year num bered 6,135, the greatest number In stalled In any corresponding period since 1930. — •——~~ - INVESTING COMPANIES NEW YORK March 20 t/P).—New York Security Dealers’ Association: Bid. Asked. Admin Fd 2nd Inc_ 20.14 21 43 Am Business Shrs_ 1 01 i 44 Am Gen Eq Inc . _ 117 I .10 Am Ins Stocks __ ft 125 ti 00 Bancamer Blair ... 11.375 12 075 Bank Group Shrs _ 0 tii •> 20 Bankers Nat Inv Oorp :i>75 4 50 Basic Industry __ „ 540 Broad St Inv -$$.70 39.38" Bullock Fund _ _ 23 50 °5 26 Corporate Trust _ ft (15 Corporate Trust AA _ 2 00 Corp Tr AA mod _ 3 77 Corp Tr Accum Ser __ 2 00 Corp Tr Ace mod _ y 77 Cumulative Tr Eh . _ h tin Depos Bk Sh N Y A _ 2 on Depos Ins Shrs A . _ _ 371 Depos Ins Shrs B 3 ft I Diversified Tr C. _ 6.yo Dividend Shrs _ _ 2 12 *‘>07* Equity lorn $3 pf _ 3o "ft 4" oft Fidelity Fund Inc _ 28 07 3120 First Boston Corp - 30.00 40.50 Fixed Trust Sh A __ iy pp Fixed Trust Sh B _ 'll ftft Found Tr Sh A _ ft 10 ft 40 Fund Investors Inc . . 25 37 20 80 gund Tr Shrs A .- ti 51 7.25 Fund Tr Shrs. B ft 08 Oen Investors Tr 7 yy 7 N8 Group See Agriculture __ 1314 2 in Group Sec Automobile _ 1 52 1 85 Oroup Sec Building _ " 2 37 " 58 Oroup Sec Chemical _ _ 1 oft 1' 7p Oroup 8ec Food I 110 | ig Group Sec Invest Shrs 1 no 2 01 Group Sec Merchandise 1 53 7 88 Group Sec Mining I no •• 11ft Group Sec Petroleum l.fil 7 84 Group Sec R R Equip 1.73 I 8h Oroup Sec Steel _ 2 •••• " 40 Oroup 3rc Tobacco _ ] up flp Huron Holding Pn 1 yp Incorp Investors _ 27 yp Insurance Group Shrs 1 77 1 Pt Investors Fd C Inc 10 7N 17 81 Keystone Oust Fund B-3 23 lit "ft 32 Major Shrs Corp y "5 Maryland Fund 1040 liyp Mass Invest Tr yn 12 .31 P8 Mutual Invest 17.ns ip.54 Nation Wide Ser 4 n" 4 P2 Nation Wide Voting " ■» f u 07 N Y Bk Tr Shrs 4.375 ' North Am Bond Tr etts 68 75 Nor Am Tr Shares " 77 Nor Am Tr Sh in:,ft y 88 Nor Am Tr Sh 1 fifth y ftp Nor Am Tr Sh lilftN _ y ys Plymouth Fund Inc . P7 ] 08 Quarterly Income 8h IN N4 "n 84 Selected Am Sh 4 .32 Selected Am Sh me _ . I ft P2 17 38 Selected Cumul 8h 11 ti.3 Selected Income Sh 5 7" Spencer Trask Fund. 22 48 23 1ft Stand Am Tr Shrs 4 40 4 hft .Stand Util Inc __ 1 oft 1 1 y Super of Am Tr A 4 .30 ! Super of Sm Tr AA. _ 2 Np j Super of Am Tr B . 4 4 •> Sdper of Am Tr BB 2 NP 1 Super of Am Tr C 8 .37 , Super of Am Tr D 8 .37 1 Supervised Shrs 1ft 40 18.84 Trusteed Am Bk • H" 1.4*0 1 11 I Trus’eed Industry Shrs 181 1 78 I Wellington Fund 20 83 2" 83 --- DIVIDENDS ANNOUNCED NEW YORK March 20 —Dividends de dared (prepared by Standard Statistics Corp.): Extra. Pe- Stock of Pay Rate riod. record, able Oonn Inveatmt Mana* 5c .. 4-1 3-16 Special. Victor 011 20c __ 3-24 3-26 Interim. Manning Maxwell & Moore _ $1 50 __ 3-31 4-1 Liquidating. Amoskeag Mf* 41 __ 4-3 4-3 Increased. Halifax Fire I (N Sc i 50c 8 6-10 7-" Indiana Pipe Line 30c 4-23 5-25 Rentier. Adami-Millls 5ilc Q 4-1A 5-1 DO. 7?r 1st Pf *1.75 q 4 - 1 H 3-1 Am 8 A- Tr 'Wash.DCi 6j q 3-31 4-10 Am Thermos 7 , pf S7'nc Q 3-32 4-1 Atlan Coasi L R R 6% non-cum pf 42 50 8 4-23 5-10 Can Ir F(>’. n-c pf $2.50 4-15 4-30 Cent Penn N B Phtla 4oc Q 3-2(1 3-31 Do 40c q 6-25 6-30 Conn Inv Man* Corp loc S 4-1 4-16 Dravo Corp 6". pf 7 5c q 3-20 4-1 Oulf Coast W 7", pf 35c S 3-15 4-1 Hatfield-Campbl Ck Coal 5'Y cum nr nf 16c Q 3-24 4-1 Hawaiian Comml A- S 73c 3-20 4-1 Houston Nat Oas Cor 25c 3-24 3-31 Do A tf PTt-jc q 3-24 3-31 Rockwu Co 58. pf $1 25 q 3-20 4-1 Scranton Lace 60c 3-20 3-31 Do old unexchanged 78 of 81.75 q 3-20 3-81 Sou Bleach A Pt Wke 78 pT $1.75 q 3-20 4-1 Bouwest Portld Cem 41 q .4-16 Do 88 pf 42 q 3.15 Stearns 'FI A Co 25c q 3-26 3-31 I Do. 58 partic pf $1.25 Q 3-26 3-31 ; Unit Gold Eq Can ! »td shra 4c 4-5 4-1B i Autoline Co pf _ 20c q 3-25 4-1 Food Machinery 25c q 4-15 4-30 Do pf 91.12’a O 3-31 4-18 Robert Oalr pf 75c q 3-25 :i-3l Inti printing Ink . 5uc q 4-20 5-1 South Cal Edia .37'3c 4-20 6-16 Spicer Mfg pf_ 75c _ 4-5 4-16 NEW YORK BANK STOCKS NEW YORK March 20 OP).—New York Security Dealers' Association _ , Bid. Asked. Bank of Manhattan (1'4) _ 3H .38 Bankers’ Truat (2) _ 77W 78*4 Cen Han Bk A Tr (41 „ . 139 142 Chase National (1.40)_ 59 61 Chem Hk A Tr (1.80) _ 74l/t 761L Commercial (8) 212 "18 Cont Bk & Tr (.801 _ 19't 21 Corn Ex Bk A T (3)__ 70 71 Empire Tr (n __ 34V< 35J4 First Nat (Bosl (2)_- .69 60 First Natl (100) 2485 2525 Guaranty Tr (12)__ 369 374 Irving Trust (,60i IK 19 Manufacturers' Tr (2) 63 66 Manufacturers' Tr pf (2)_ 53 66 National City (1) . _ 55 57 New York Truat (5) 149 152 Public (111 > ,- 52'4 54’4 Title G & T. _ _ 16V* 17V* OFFICE EQUIPMENT WE SELL, BUY OR EXCHANGE Desks Steel Files Tables Steel Cabinets Chairs Safes BAUM’S FURNITURE HOUSE 1*16 Er* at, N.W. Phone !»A. 2184 REAL ESTATE LOANS mm rfw RESIDENCE and \y/f) SMALL BUSINESS %J ,KJ PROPERTIES. FRED T. NESBIT 1010 VERMONT AVE. DISTRICT 03M First Mortgage Loans Interest 5V2% Small Construction Loans Considcrad Wm, T. Ballard 1221 Ere Street N.W Second Trust Notes We will boy monthly payment deferred purchase money second trust notes, aeeured on owner-occupied dwelllnrs In D 0. and nearby Md. A Va. Union Finance Co. 018 Woodward Bid* NAtl 7638 Money for Construction Loans and Loans on Improved Properties Prevailing Rates FIBST DEED OF TEOST ONLY GEORGE I. BORDER 643 Indiana Ava. N.W, Nat'l 0350 North American Light & Power Reports $478,877 Profit in 1936. By the Associated Press. NEW YORK, March 20.—North American Light & Power Co., con trolled by North American Co., re ported 1936 net Income of $478,877, equal to $2.46 a share of $6 cumula tive preferred stock. For 1935 the company had a deficit of $135,653, The company controls operating utility properties In Illinois. Iowa, Mis souri, Kansas and Nebraska. White Sewing Machine. White Sewing Machine Corp., Cleve land, reported 1936 net income of $296,931, equal to $2 97 a share of pre ferred stock, on which there is an ac cumulation of unpaid dividends. In 1935 net inoome was $35,581, or 35 cents a share of preferred. General Time. General Time Instruments Corp., New York, reported for fiscal year ended January 2 consolidated net In come of $1.420.357, equal after esti mating annual dividend requirements on preferred stock to $3.54 a share on 327,789 shares of common stock. In previous year net Income was $852,000. or $2.24 a share on 251,434 shares of common. Kelsey-Hayes Wheel. Kelsey-Hayes Wheel Co and sub sidiaries, with principal plants at De troit, reported net profit of *1,030,252 for 1937, equal to $191 a share on combined class “A" and "B" stocks This included non-recurring income of $286,404. For 1933 net profit was *1.728,345, equal to *3.27 a share on | combined stocks. Including $453,075 non-recurring Income. Slots-Sheffield. S loss-Sheffield Steel Ac Iron Co., i Birmingham, Ala, reported earnings for the year, after deduction of *1, 093,978 for depreciation, were $868,462 equal, after dividends on the 7 per cent preferred stock, to $4 14 a share on the common. In 1935 the company reported a net loss of *25,220. PLANE BACKLOG RISES. NEW YORK, March 20 (A1).—Un filled orders of Curtiss Wright Corp., I airplane and engine manufacturers, on ' March 12 were *17.652 468. compared ' with *12,523 242 a year previous. Jj% INTEREST CONSTRUCTION LOANS AND STRAIGHT 3-yr. LOANS Prompt Action on Applications Real Estate Mortgage & Guaranty Corporation 1610 K St. N.W. NAtl. 1403 Real Estate Loans 5% • 5V2% Business Property and Resi dence . . . Construction or Re financing Loans • • • Shannon & mcHj Mnrtsace Lo»n Cormoondrats MASSACHUSETTS MUTUAL LIFE INSURANCE CO. 1505 H St. N.W. Natl. 2345 First Mortgage Money For CONSTRUCTION LOANS and LOANS ON IMPROVED PROPERTY in the District of Columbia Nearby Maryland and Virginia 5% Prompt Action B. F. SAUL CO. 925 15th Street Natl. 2100 First Mortgage Loans District of Columbia, Nearby Maryland and Virginia Homes Apartments 5% Business Properties Terms from 3 to 1 5 years Also Monthly Payment Loans Randall H.Hagner & Company INCORPORATEC M()RT(L\OE Lo.w ('oKRE1l)<)M)rVT ^/z^s ^/iMz-fctncf fjcn/fazzj p 1321 Connecticut Ave. N.W. Telephone: DEcatur 3600 Property Management Automobile Insurance Jl“wl l Mortgage Loans Fire Insurance APARTMENT AND HOUSE MANAGEMENT Investigate this comprehensive service of our Property Manage ment Department—and how ef ficiently it is rendered, for a very nominal fee. B. F. SAUL CO. RIAL ESTATE 925 15th St. N.W. MoPherton^S Quart National 2100 Consider These Facts When You Wish To Arrange A LOANS on improved or to bo improved real eitatk— at low as including intorait and curtail. . . No comraii non* . . . No ranawal fool. Lot ui holp you tolve youi problom with a Porpotual loan. PERPETUAL Building Association is the largest in Washington, and one oi the leaders in the entire United States. PERPETUAL has over 55,000 bor rowing and savings members. PERPETUAL'S Board of Directors keep in close contact with the officers and materially assist in the speedy handling of loans. PERPETUAL'S regular examination* by the U. S. Treasury Dept, are sup plemented by special C.P.A. audits as well as its own Auditing staff. PERPETUAL has always had a rep utation for sound, fair appraisals. Over 200 borrowers per month were advanced loans last year, totaling over $12,000 000 for the year. PERPETUAL BUILDING ASSOCIATION 11th & E STREETS, N. W. ESTABLISHED 1881 Largaat In Waihlngton-AaaaU Otar $43,000,000 ARTHUR G. BISHOP Chairman o( Tho Board MARVIN A. CUSTI3 President EDWARD C. BALTZ Saoratarr