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ON D. MANGE Both Stocks and Bonds Set Notable Records in First Quarter. BY EDWARD C. STONE. Stock and bond prices held up well ©n the Washington Stock Exchange during the first quarter of 1937, the moderate changes in quotations again revealing tht fact that the local ex change is largely an investment market. littl> touched by the countless speculative factors that play such a vital part in sudden price changes in Wall Street. In the bond division Anaeostia & Potomac River R. R. first 5s opened the year at 77 and sold at the end of the first quarter at 76. The same cor poration’s guaranteed 5s opened 1937 at 110% and three months later were selling at 111%. Capital Traction 5s ended the quarter at 92% after being as high as 97. City & Suburban first 5s at 81 % were lower at the end of the period than in 871/2, in January’. Georgetown Gas 5s, 1961. opened the year at 125 and changed but two points in the three months. The compara tively new Potomac Electric Power 3%s started out at 104%, but sold recently at 101%. Washington Gas 5s, 1958, dropped two points and the Gas 5s, 1960. sold from 126 to close the quart* at 121. Railway & Electric 4s were very little changed, closing at 105%. In the stock division bank stocks maintained notable strength. Another stock in which the.e is exceptional interest, Capital Transit, opened 1937 at 14% and ended the quarter at 14. The Potomac Electric Power preferred issues have been consistently strong, as have Washington Railway & Electric preferred and common, the common last selling at $725 a share. Miscel laneous stocks have behaved well, al though most of the quotations were not as high at the end of the quarter as earlier. In addition to price firm ness in most issues, trading volume has also been upward. Agents Win Convention Trip. Raymond L. Bland, George C. Campbell, James A. De Force, Joseph W. Gibson, George T. Howard, Francis F. Miller, Edwin P. Parker. Frank D. Roach. Charles M. Schwab and Dwight T. Scott, all members of the Washington general agency of the Mutual Benefit Life Insurance Co., are attending the company’s national convention at Atlantic City. They, with 300 other top-ranking repre !6entatives from all parts of the Na tion who qualified, will hear Dale ICarnegie, famous author, speak at the convention banquet. ( Various company headliners will also be heard. George T. Howard and Dwight T. Scott of the Washington agency w'ill participate in the program. investment Parley Praised. The Washington delegation was back in the financial district today (from the Investment Bankers' Asso ciation conference at Southern Pines. ?N. C., all the members being most ^enthusiastic over the two-day session. Chester T. Lane, assistant general ^counsel of the Securities and Ex Change Commission, gave a most in formative talk from a legal stand j point on some of the important regulations and policies in the secur ities act. Many of the rules over Which there has been more or less controversy are clearly stated in the Jaw and the commission has no alter native in the manner in which they are administered, he said. He went into detail on the rules governing prostectuses governing new issues, registration, rules governing the dis tribution of additional securities of en issue of long standing. His talk was followed by a long ; round-table discussion in which he i answered many timely questions. At j the same time the investment dealers j informed him of some of the most i difficult problems with which they have to deal and which would make their point of view more clear to the commission. Railroad Situation Reviewed. Col. Henry W. Anderson, co-receiver for the Seaboard Air Line Railroad, gave a comprehensive summary of the present railroad situation. While men tioning the enormous taxes paid by the railroads, he took occasion to state that some of this tax money is used lor the construction of highways "which are used only by automobiles and trucks which are in direct com petition with the railroads. He believes the Interstate Commerce Commission has done a remarkable gob in regulating the railroads, but also considers this regulation should be expanded to other carriers until unfair competition is checked. He also sees this regulation as needed in the steel, motor, oil and all other in dustries which are so closely tied up With public -welfare. Other speakers were John S. Linen, vice president of the Chase National Bank, who devoted his remarks par ticularly to municipal bonds, and Charles M. Johnson, State treasurer of North Carolina. Mr. Johnson pic tured the brilliant results attained in cutting government expenses in his State and the resultant great im provement in the standing and prices of State, municipal and county bonds. Y. E. Booker, chairman of the Southeastern group last year, said the meeting was one of the very best yet held. The largest delegations were from Washington and Baltimore. Maryland, Virginia, West Virginia and the Carolinas are the States in the Southeastern group. Heard in f mancial District. The Cleveland district made the best showing among the 12 Reserve districts in March retail trade, gaining 39 per cent over March, 1936. Atlanta, Boston and San Francisco were ahead tA the 19 per cent advance reported oy the Richmond Reserve Bank. C. M. Eisele of Washington, presi dent of Southeastern Industrial Bank ers, Inc., will conduct a forum on ••Capital Financing for Increased Volume” at the national association’s third annual institute, to be held at Fort Wayne, Ind., on May 13, 14 end 15. Insurance reports continue to be particularly favorable. The Phoenix Mutual Life Insurance Co. reported today that new business in March was up 36 per cent and for the whole first quarter 25 per cent over the like periods in 1936. Retail sales over the whole United States in March were 20 per cent larger and in the first quarter 14 per cent better than in the corresponding periods a year ago. Eight consecutive 100-share sales in Real Estate Mortgage & Guaranty preferred stock featured trading today on the Washington Stock Exchange. The price W'as 5*4, unchanged. Capi tal Traction 5s were strong at 93. r_ Toys made in Germany last year Ifere valued at $56,000,000. TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE By Private Wire Direct to The Star. 2:15 p.m. Prev 1937 Stock and Sales— Net High. Low. Dividend Rate. Add 00. High. Low. Close, chge. 65 49% Abbott Lab (U.60). 1 60 60 50 + % 80% 63% Acme Steel (4)_ 1 75 75 75 -1 22% 15 Adams Exp <a55c)_. 28 18% 18% 18% 36 31 Aadressograpb <1)_ 1 30% 30% 30% — % 80% 68% Air Reduction (tl)_ 3 73% 71% 73% +1% 5% 3% Air-Way Electric... 2 3% 3% 3% - % 15% 13% Alaska Jun <tG0c>__ 22 13% 13% 13% — % 5% 3% Alleghany Corp__ 22 4% 4% 4% — % 69% 43% Alleg pf ww $30_ 6 52% 51% 62% + % 59 43% Alleg pf ww $40_ 1 51% 51% 61%+% 62% 41% Alleg Corp pr pf- 5 44% 44% 44% +1% 45% 36% Alleg Steel (b40c)-. 13 39% 38 39%—% 258% 225 Allied Chem (6)_ 3 240 236% 240 33% 25% Allied Mills (b50c). 17 27 26 27 +1 21% 16% Allied Stores (b20c) 11 1814 17% 17%—% 83% 63% Allis-Chalm (b50c>_ 14 66% 65% 66% + % 8% 4% Amal Leather_ 7 6% 6% 6% — % 62% 34% Amal Leath pf (3) 2 42 42 42 114% 98% Amerada Corp (2) __ 2 104 103% 104 +2 101% 83 Am Ag Chm Del bl_. 1 89 89 89 — % 41% 26% Am Bank Note ( + 1). 9 26% 25% 25%-1% 75% 59 Am Bk Note pf (3)_. 10s 59 59 59 30% 58 Am Brake Sh <t2)__ 5 59 68 58% — % % Am Bra HU rts Ap 16 216 % % ft— ft 121 101% Am Can (t4) _ 8 105 103 105 + 74 174 153 Am Can pf (7)- 2 15274 152% 162% - % 71 56 Am Car & Foundry. 4 58% 58 58% — % 104'% 92% Am Car & Fy pf (b4)x 1 95% 95% 95% +2% 90% 72 Am Chain & Ca bl.. 5 84 83% 84 — % 1347* 115 Am Chain & C pf 5.. 1 125% 125V* 125% +1% 23% 13% Am Colortype _ 4 1914 19% 1974 30% 26% Am Cornel A1 a50c_ 4 28 27% 28 — 74 9974 94% Am Crys S 1st pf 6— 10s 96 96 96 +1 13% 8% Am Encaustic_ 6 1174 10% 1174 + % 13% 774 Am & Foreign Pwr_. 13 10% 10 10+74 5874 46% Am & For Pw $6 pf_. 1 48 48 48 68% 54 Am & For Pw $7 pf. 6 5774 56% 5674 - % 21 18 Am Hawaiian (1) 3 19% 19 19—74 1H4 6% Am Hide & Leather. 13 97* 8% 9% + % 55% 37% Am Hide & L pf (3). 3 48 47% 48 . 4% 274 Am Ice 3 4 374 374 - 74 17% 13% Am Interntl (a40c). 4 15% 1574 15% 58% 43 Am Locomotive_ 7 50% 49 50% +1 29% 22% Am Mach & F (tl)_. 2 24 23% 23% — 74 13% 10% Am Mach & Met 60c. 1 10% 10% 10% — 74 68% 5074 Am Metals _ 6 56 55 56 12974 120% Am Metals pf (6)_ 8 120 120 120 — % 75 62 Am NewsIN VI (3) 30s 6974 6974 69%+ 74 1674 11 Am Power & Light.. 32 117* 10% 117* 7274 5514 Am Pw & Lt pf <5)_. 4 5874 58 58% +1% 877* 66 Am Pw & Lt pf (6). 2 68 68 68 — % 29% 23 Am Radiator t60c._ 22 23% 23% 23% — % 45% 3374 Am Roll Mill tl.20.. 63 38% 3674 38% + % 36 3074 Am Safty Raz <12) _. 1 3074 307* 30% — % 29 2374 Am Seating (a2%)_ 1 24% 24% 2474 -% 58 41 Am Shipbldg (2)_ 10s 48 48 48 -1 105% 88% Am Smelt & Ref (3). 44 9174 98% 91% +1 107% 104 Am Sm & Ref pf<6). 1 105% 105% 105% 67% 59 Am Snuff <t3) ... 1 597* 597* 5974 — 74 7314 57% Am Steel F (b50c).. 15 59% 58 58%-% 2674 20 Am Stores (2) _ 4 20% 2074 2074 187 16774 Am Tel & Tel (9)_ 11 1697s 167% 1697* - % 99 78% Am Tobacco (5)_ 3 81 80% 80% -17* 99% 80% Am Tobacco B (5).. 5 83 827* 83 2074 14% Am Type Founders. 7 1574 1574 1574 — 74 297* 21 Am Water W (80c). 26 217* 20% 21 —7* 14% 9% Am Woolen _ 3 1174 11 1174 + % 79 64 Am Woolen pf (bl). 6 6 974 6 8 69% +1% 20 6% Am Zinc & Lead . 54 16 15% 15’*+ 7* 69% 527* Anaconda Cop (tl) 147 5874 557* 57%+ % 97 79 Anaconda Wire (12) 2 82 80% 82 25% 18 Anchor Cap (60c).. 2 20% 207* 20% + % 3774 29 Andes Copper 2 287* 28 28 —1 46 41 Archer-Dan-M(t2). 1 427* 427* 42% + 74 13% 7 Armour(Ill) bl5c .. 55 11 10% 11 +7* 997* 81% ArmourdlDpr pf 6. 1 93 93 93 —1 126 96 Armour(lll)pf(7) . 1 101 101 101 707* 69'* Armstrong Cork(2) 8 63 6274 62% — % 16% 13% Arnold Cnst b62%c. 2 14 . 13% 14 + V* 17% 12% Artloom Corp _ 1 13 13 13 24% 18% Assoc Dry Goods_ 3 1974 19 19% 87% 69'* Atch T & S Fe(a2)_. 23 82% 78% 82'* +3% 104 100% Atch T & S F pf(5)_ 2 100% 100% 1007* + 7* 55% 44% Atl Coast Line(al). 4 47 467* 47 37 307* Atl Refining (+1)_ 39 337* 327* 33'*+ 7* 18% 16% Atlas Corp (80c)_ 67 17% 17% 17%+ % 52% 50'* Atlas Corp pf (3).2 5H* 51% 61%+ % 36% 28% Auburn Auto _ 1 31 31 31 + % 97* 67* Aviation Corp Del_ 49 8% 814 87*+ 74 11% 8 Baldwin Loco (d)_ 7 8% 87* 87* — 74 9% 6% Baldwin asd (d)_ 4 6% 6% 6% 40'* 20% Baltimore & Ohio... 80 36'% 34% 36'* + 74 47% 33% Baltimore & Oh pf_ 7 41'* 407* 41'*+ '* 43% 35% Barber Co (a75c)_ 8 387* 37% 3874 + % 32 25% Barker Bros _ 3 28 28 28 4-1 35'i 267* Rarnsdall (1) _ 23 32 30% 32 +1 15% 12% Belding Hemin (1). 2 13% 13'* 13'% + % 307* 23% Bendix Avia(b25c). 11 24% 24% 24%+ % 23% 20% Benef Ind Ln (b95c) 14 22% 21% 227« + % 1051* 73 Bethlehem (al %)_ 78 917* 89 91'* +174 20 18% Beth 5% pf (1)_ 1 18% 18% 18% 129% 120% Bethlehem pf (7)._. 2 122 122 122 — % 38 30 Black & Deck b50c.. 2 30% 30 30 29% 22% Blaw Knox <b20c)_ 9 27 25'-) 26 — % 49% 33% Boeing Airplane ... 20 38% 3774 38% — 7* 487* 407* Bohn Alum & B(3)_. 2 43% 43% 437*+ 7* 93 857* Bon Ami A (4) 210s 89 87% 89 +2 45% 41%BonAmi(B) (27,*).. 40s 46 45% 46 + % 28 26 Borden Co (1.60)_ 28 2674 26 26 — % 837* 7274 Borg-Warner (4)_ 3 78'* 78 787* 15% 87* Boston & Maine_ 1 11% 11% 11% — % 23% 16% Bridgept Brss(60c 3 18 17% 18 7s ft Bridkp't Br rts Ap29 42 % % ft 59% 45% Briggs Mfg (+2) ... 15 4674 45% 4674+ % 537* 437* Briggs & Strat (3)_. 2 50 50 50 — a* 47 41% Bristol-Myrs t2.40_. 1 42% 4274 427* + % 53 39 Bklyn-Man Tr (4)_ 3 40% 401-4 40'*+ % 8 574 Bklynfe Queens_ 5 57* 5% 5% 52% 38% Bklyn Un Gas (3)_ J-t 40 40 40 *+ % 24% 2074 Brunswick-Balke... 3 20% 20% 207* + % 25% 18% Bucyrus-Erie _ 23 18% 187* 18% — 7. 11 <% 108'i Bucyrus-E pf (7)_ 10s 110 110 110 14% 10% Budd (EG) Mfg_ 14 10% 10% 10%+ % 13 9% Budd Wheel(a20c).. 10 9% 9% 9% + % 45% 34% Bullard (b25c)_ 1 38% 38% 38%—% 65% 50% Bulova Watch (+4)_ 13 51% 50% 51 * — % 35% 30% Burr Add M (80c)... 1 30% 30% 30% 11% 7% Bush Terminal (d). 17 9% 9 9% + % 39 27 Bush Term deb (d). 1 33 33 33 +3 45% 24% Bush T Bldg pf(d).. 60s 35 34 35 +1 18% 13% Butler Bros (bl5c). 2 16 16 16 36% 29% Butler pf (1%) ... 2 32 31% 31% — % 9% 5% Butte Cop & Z(a5c). 6 6% 6% 6% 33% 25% Byers (AM) _ 3 27 27 27 — % 91 80 Byers (AM) pf_ 10s 79% 79% 79% — % 34% 27 Byron Jackson (tl). 5 30% 29% 30%+ % 48% 38% Calif Packing (1%)- 4 42% 42 42 — % fiVs 2% Callahan Zinc-Lead 38 4% 4% 4% — % 20% 14% Calumet&Hecla (1) 31 15% 14% 15% + % 37% 29% Campbell Wy (+1).. 2 30% 30% 30% — % 38% 27% Canada Dry G Ale.. 10 32% 31% 32%+ % 17% 14 Canadian Pacific_ 33 14% 14 14% 106 100 Car Clin & O stp (5) 20s 100% 100-% 100% 8% 7 Carriers & Gen (b5c) 7 8 7% 7% — % 100 85% Caterpillar Tr (t2)_ 2 89% 88% 89%+ % 36% 26% Celanese (b75c)_ 65 35% 32% 35% +1% 48% 36% Celotex Corp_ 4 43 42% 42% + % 82% 76 Celotex Corp pf (5).. 40s 76% 76% 76%+ % 39% 33% Cent Aguire (tl%). 1 34% 34% 34%+ % 12% 8% Central Foundry_ 4 9% 9% 9% 41% 30 Central R R of N J_. 1 31% 31% 31% — % 86% 67% Cerro de Pasco (4)_. 6 74% 73% 74%+ % 23% 16% Certain-teed Prd_.. 22 17 16% 17 82 67% Certain-teed pf (6). 20s 69 68% 69 58% 35% Champion Pap (tl). 22 56% 53 66% +2% 90% 78% Chesapeake Crp(3)_ 1 83% 83% 83% + % 68% 57% Ches & Ohio t2.80_ 15 60% 59% 60 -% 100 91 Ches& Oh pf A (4). 1 92 92 92 13% 6% Chi & Est III pf (d)_ 1 10% 10% 10%-% 4 2% Chi Grt West (d)_ 6 3 3 3 + % 18% 13% Chi Grt West pf (d) 2 14% 14 14%+% 11% 8% Chi Ind & L pf (d)_20s 9 9 9 32 28 Chi Mail Ord tl % — 2 28 28 28 3% 2 Chi Mil St P&P (d). 10 2% 2% 2% - % 7% 4% Chi M St P&P pf (d). 3 5% 5% 5% + % 6% 3% Chi & N W (d)_ 5 4% 4% 4% 19% 11% Chi & N W pf (d)—. 2 14 14 14 33 23 Chi Pneumatic Tool 2 27% 27 27% +1 3% 2% Chi R 1 & Pac <d) .. 2 2% 2% 2% 8% 5% Chi RI&P 8% pf(d). 2 6% 6% 6% 10% 6% Chi RI&P 7% pf(d). 1 8% 8% 8% - % 27% 21% Chi Yellow Cab (2). 1 21% 21% 21% 22% 18% Chickasha Cott’n Oil 1 18% 18% 18% 15% 12% Childs Co _ 6 12% 12% 12%+ % 135% 110% Chrysler (bl%>_ 103 117% 113 116% +2 21% 18% City Ice & Fuel (2). 1 19% 19% 19% 10% 8Vi City Stores _ 1 8% 8% 8% — % 38% 32% Clark Equip(tl.60). 6 34% 33% 34%+ % 113 105 Clev El Illu pf 4%__ 10s 107% 107% 107% — % 41% 35 Clev Graph Br (2).. 1 36 36 36 + % 170% 122% Coca-Cola ( + 2) 51 150 142% 150 +1% 25% 19% Colgate-P-P(t50c)_ 18 23% 22% 23 62% 53% Collins & Aik (t2)_ 1 63 53 53 -1 44Vi 26 Colonial Beacon_ 10s 45 45 45 + % 51% 39 Col Fuel & Iron(bl) 3 40% 39% 39% — % 27% 21 Colo & Southern ... 10s 20% 20% 20%—1 20% 13% Columb G & El (40c) 45 14% 14% 14% 108 94% Col G&Epf A (6) — 1 94% 94% 94% 39% 32% Columb Pic vtc (tl) 2 33% 33% 33% 46% 41 Columb Pic pf(2%)_ 1 42% 42% 42%+ % 69’% 56% Cornel Credit (t4)._ 12 59% 57% 59% +2% 80% 64 Cornel Inv T (t4)... 19 66 65 66 +2 120 104 Cornel Inv T pf 4%_ 1 104% 104% 104% — % 21% 16% Cornel Solv (t60c)._ 19 17 16% 16% 4% 2% Comw & Southern.. 45 3 2% 2% 75% 55% Comw & Sou pf (3)_ 3 67% 67 67% 19% 13% Conde Nast Pub_ 4 14% 14% 14% + % 45% 36% Congoleum-Nrn(2)_ 1 40 40 40 19% 16 Congress Cigar(a2). 1 15% 15% 15%—% liV/8 i'll v-uuoui LJ6»r a 1VJ1S i(5y4 iay4 — % 95 83% Con C pr pf ww 6%_. 20» 90 90 90 —1 49% 38% Cons Edls N Y(t2)_. 40 39% 38% 39 + % 5% 4% Cons Film_ 4 4% 4% 4% 18% 14% Cons Film pf (a2)_ 3 14% 14% 14% — % 13% 9% Cons Laundries_ 2 11% 10% 11% + % 17% 15% Cons 011 (80c)- 89 17% 16% 17%+ % 105% 104% Cons Oil pf (5)_ 1 104% 104% 104% 10% 7% Cons R R Cuba pf_ 3 7% 7 7% + % 1% % Cons Textile (d)_ 11 1 % % 13% 8% Cons CoaKDeDvto. 6 12% 12% 12%+ % 52% 33 Cons Coal Del vtc pf 250« 60% 49% 49% —1% 35% 20% Container Corp 1.20 49 36% 34% 36%+ % 37% 27% Conti Baking (A)_ 7 31 30 31 +1% 5% 3 Conti Baking (B)_ 24 4% 3% 4 69% 55% Conti Can (3) _ 8 57% 66% 66%—% 25% 20% Conti Diamond (2)_ 1 21% 21% 21%+ % 42% 37 Conti lnsur (tl.60). 4 37% 37 37% — % 3% 2% Conti Motors_ 4 2% 2% 2% — % 45% 40% Conti Oil D^ (tl)_ 42 45% 44% 46% 35% 26% Conti Steelfl>50c)_ 2 30% 30 30V* 2:15 p.m. Prev 1937 Stock and Sales— Net Hlah. Low. Dividend Rate. Add 00. Hlkh. Low. Close, chse. 77 63% Corn Ex Bank (3)._ 130s 67% 67% 67%+% 71% 64% Corn Prod Ref(f3)_ 2 65 64% 65 + % 171% 157 Com Prod R pf (7)„ 1 154% 154% 154% -2% 10% 6 Coty Ino_ 7 8% 8% 8% - % 56% 46 Crane Co_ 6 49% 49% 49% + % 100% 70% Crown Cork &8(2)_ 9 75 73 75 + % 24% 17 Crown Zeller(new). 85 23% 22% 23%+ % 107 99 Crown Zel). cu pf (6). 3 106% 106 106% +1 8IV4 51 Crucible Steel_ 12 72 69% 72 +1 3 2 Cuba Co_ 12 2 2 17% 11% Cuba R R pf- 20e 11% 11% 11%-% 14% 10 Cuban-Am Sugar_ 3 11% 11 11% — % 127 110 Cuban-Am Sug pf 20s 113 113 113 -1% 43 39% Cudahy Pkg (2%)„ 2 40 40 40 + % 20% 15% Curtis Publishing_ 8 15% 15% 15% — % 109% 92% Curtis Pub pf (7)_ 2 93% 92% 93 -% 8% 6% Curtiss-Wright_ 29 6% 6% 6% 23% 18%Curtiss-W (A)aS0c- 15 19% 19 19%+% 90% 76 Cutler-Ham (b50c)_ 1 76 76 76 24 19% Davega cum pf 1%_ 1 20 20 20 — % 135% 104% Deere & Co _ 6 124% 121% 124% +2% 31% 29% Deere & Co pf 1.40— 2 29% 29% 29% 29 22 Delsel-Wem-G(tl). 1 24% 24% 24% - % 58% 42% Delaware & Hudson 14 49% 48 49 + % 24% 17% Del Lack & West_ 14 19% 18% 19%+% 10% 7% Den&RG W pf(d). 1 8% 8% 8% 12 94s Det & Mackinac_ 60s 9% 9% 9% 36% 30% Diamond Mth(b50c) 2 32 31% 31% - % 23 23% Diamond T Mot b25c 4 22% 21% 22% - % 29 24% Distil Corp Seag_ 7 25% 24% 25%+% 25 20% Dixie Vortex(l%)_ 1 21 21 21 -1 51 41% Dome Mines 4+2)_ 16 44% 43% 43%—% 77% 54% Douglas Aircraft_ 15 56 54% 56% — % 3% 2% Duluth SS&Atl pf_ 1 2% 2% 2% - % 8% 6 Dunhill Internatl__ 2 6% 6 6 180% 154 Du Pont <b75c)_ 7 165 154% 155 17 11% Eastern Roll Mills.. 15 13% 13% 13%-% 175% 158% Eastman Kodak(6). 3 169% 168% 158% - % 163 150 Eastman Kod pf (6). 10b 151% 151% 151% +1% 37% 32 Eaton Mfg <t2)_ 4 32V, 31% 31%-% 16 11% Eitington-Schild—_ 11 13% 12% 13%-% 29 23% El Paso Nat G 1.60.. 3 24% 24% 24% - % 45% 38 Elec Auto Lt t2.40— 4 39% 38% 39%+ % 16 11% Elec Boat (a60c> __ 15 11% 11% 11%—% 7Vi 5v„ Elec&Mus 1 (al8e)_ 4 5% 6% 5% 26% 19% Elec Pow & Light—. 25 21% 20% 21%+% 87 67% Elec Pw & Lt *6 pf.. 4 68% 67% 68% - % 92% 75 Elec Pw & Lt J7 pf.. 8 79 77% 78% +1 44% 39% Elec Storage Bat (2) 2 39% 39% 39%-% 2 1VS Elk Horn Coal (d>_. 3 1% 1% 1% - % 8 5% Elk Horn Cl pf (d).. 2 5% 5% 5% — % 115% 108% Endicott-Jhn pf(5). 40s 110 110 110 -% 9% 7Vs Equitable Office B._ 1 7% 7% 7% 23% 13% Erie HR . _ . 6 19% 18% 19% + % 35% 26% Erie R R 1st pf_ 3 28% 28 29 28% 21% Erie R R 2d pf_ 1 22 22 22 + Vi 14% 12% Eureka Vac (80c)_ 2 12% 12 12 — % 34% 28% Evans Prod (tl)—_ 2 29% 29% 29% 5% 3% Fairbanks Co_110b 4% 4 4% + % 28 20% Fairbanks Co pf_ 270b 23 22% 22%+ % 71% 66 Fairb’ks-Morse (tl) 5 69% 58 59% +2% 11% 8% Federal Motor(40c) 19 9 9 6 4% Fed Water Svc A 4 4% 4% 4% — % 45% 37% Fidel Phoenix tl.60. 2 39 39 39 - % 41% 32% Firestone T&R (2). 9 37 36 37 + % 46% 38% Flintkote Co (1) ... 3 41 40% 41 +1 58% 48 Florence Stve b50c. 3 49 46 46 -3% 9% 6% Follansbee Bros(d). 2 7% 7% 7% + % 58 47% Food Machine (1) . 1 56% 56% 56% - % 128 116% Food Mach pf (4%) 10b 126 126 126 -2 54% 43 Foster-Wheeler _ 9 48% 47 47 —1 135 118 Foster-Wheeler pf.. 20s 120 120 120 32% 26% Freeport Sulph (1). 4 27% 26% 27 -% 481- 34% Fuller Co 2d of_ 10s 35 35 35 7% 4% Gabriel Co (A)_ 1 6% 6% 6% — % 33 23 Gamewell Co_ 20» 24 24 24 19Vi 15% Gar Wood Ind _ 4 15% 15% 15% 15% 12% Gen Am Inv(a75c)_. 2 13% 13% 13% + % 86% 69% Gen Am Trans (»3). 2 70 70 70 — % 19% 15% Gen Bakins (t60c).. 7 16 15% 15% - % 14 10 Gen Bronze_ 2 10 9% 9% — % 32% 25% Gen Cable_ 15 28 26% 28 + % 65 62% Gen Cable (A)_ 4 55% 55 55% +1% 52% 44 Gen Cigar (14)_ 3 45% 45'% 45% 64% 52% Gen Electric (b40c) 102 54% 51% 54% +1% 44% 39v, Gen Foods (2) __ 8 42 41% 42 + % 3% 2% Gen Gas & Elec(A) 3 2% 2% 2% + % 64% 57 Gen G&E 6% cv pfA 10s 59% 59% 59% -1% 65% 60 Gen Mills (3) 6 65% 65 65% + % 124 117% Gen Mills pf (6)_ 10a 119 119 119 +1 70% 58% Gen Motors(b25c)„ 194 59% 57% 59% + % 122% 114% Gen Motors pf(5)_ 2 115 114% 115 +% 19 15% Gen Print Ink new_ 3 16 15% 15% — % 5% 4% Gen Pub Service_ 1 4 4 4 — v« 65% 48 Gen Ry Signal (1).. 2 49% 48% 49%-% 5% 3% Gen Realty & Util— 12 4 3% 4 48% 39 Gen Realty & U pf — 2 40% 40 40% + 14 70% 60 Gen Refract (a3%). 3 61 60 61 +1 88 70 Gen Steel Cast pf_ 20s 71 71 71 +1 33% 27'% Gen Thea Eq(b25c). 2 29% 28 29%+% 43% 37 Gen Time Instru tl- 2 39% 39% 39% 20% 15% Gillette S Raz (tl)_ 10 17 16% 16% 88% 84v, Gillette S R pf (5).. 3 83 83 83 -2% zuv» Uimbel Bros_ 18 25% 25 25% 4 % 51% 43 Glldden Co (2)_ 21 44% 43 43 -1% 6% 5% Gobel (Adolf)_. 3 5%' 5% 6% — % 8% 6% Goebel Brew!t20c). 5 6% 6% 6% + % 50% 31 Goodrich(BF) (al)_ 43 46 44% 46 +1% 47% 27% Goodyear (b50c)_._ 31 41% 40% 41% +1 13% 10% Gotham Silk Hose.. 2 11% 10% 11% +1% 4% 3 Graham-Palge_ 17 3% 3% 3% 15 6% Granby Cons (new) 8 10% 9% 10 — % 7 32 4 32 Granby rights Ap 26 108 5 32 4 32 4 32 5% 3% Grand Union ctfs_ 14 4 4 27% 21% Grand Union pf(bl) 3 22% 22% 22% 48% 38% Granite City Stl(l). 2 40% 40% 40%-% 47% 42 Grant (WT> (tl.40) 2 44 43% 44 55% 40% Grt Northern pf_ 42 50% 48% 60% +1 28% 19 GrtNorthnOre (1). 6 25 24% 25 + % 42% 35 Grt West Sug t2.40. 5 35% 35% 35% 39% 32% Green H L <+1.60) _. 7 33% 33% 33%-% 16% 13% Greyhound (t80c)„ 13 13% 13% 13%-% 11% 10% Greyhound pf (55c) 3 II 10% 11 4% 3 Guantanamo Sug_ 1 3% 3% 3% — % 59 40 Guantanamo pf_ 10s 51 51 51 —1 59% 49% Gulf Mobile & N pf. 1 49% 49% 49% - % 108 55% Gulf States Steel... 1 96% 96% 96% -1% 36 32% Hack W pf A (1%) 60s 34 33 33 -% 31 25% Hamilton Wth b25c. 3 27% 25% 27%+1% 108 104% Hamilton W pf (6). 30s 108 108 108 +1 105 101% Hanna (MA) pf(5). 10s 102% 102% 102% 58% 50% Harb-Walker (t2)_ 13 51 50% 60%-% 8 5% Hayes Body _ 3 5% 5% 5% — % 109% 101 Hazel Atlas G1 (t5). 1 105% 105% 105% - % 15% 13 Hecker Prod (60c).. 14 13% 13 13 39% 29 Hercules Motor(tl) 1 29 29 29 67% 59 Hershey Choc (t3)_. 1 60 60 60 +1 111 102% Hershey Ch pf(t4)_ 1 106% 106% 106% 4 % 30% 21 Hollander &Son(l). 17 28% 27% 28% 4 % 43% 31% Holly Sugar (t2)_ 9 35 34 35 4 % 431 355 Homestake (tl2)_120s 390 387 387 +1 27% 21% Houd-Her B (tl%). 2 22 21% 22 4 % 17% 12% Houston Oil vtc_ 14 14 13% 14 + % 90% 62% Howe Sound (t3)_ 3 76 75% 76 -1% 5% 4 Hudson & Manhat.. 1 4% 4% 4% 23% 18% Hudson Motor_ 30 21 19% 21 4 % 2% 1% Hupp Motors_ 9 2% 2 2 - % 38 22% Illinois Central_ 13 32 30% 32 + % 22% 12% Indian Refln (al)_ 1 16V4 16% 16% -1 44 36% Indus Rayon (2)_ 63 45% 41 45% 43% 131% 112% Inland Steel (4)_ 13 113% 112 113% 4 % 33% 22% Inspiration Cop_ 46 25% 23% 25V4 41% 13% 10% Inter Rap Tr vtc(d) 4 9% 9% 9% — % 11% 4% Intercontl Rubber.. 4 8% 8% 8% — % 28% 16% Interlake Iren 139 22% 21% 22% 4 % 16 32 4 32 Interlake rts.Apr 15 406 4 32 1 32 2 32 9 5 Inti Agricultural_ 12 8% 7% 8 59% 42 Inti Agricul pr pf... 2 55% 55 55% — % 111% 99% Inti Harvester^%) 17 104 102 104 4 % 162 146 IntlHarvpf (7)_ 1 150% 150% 150% 4 % 16% 8% Inti Hydro El A — 36 13% 12% 13% - % 15% 6% Inti Mercantile M_ 25 14% 13% 14% 4 % 18% 12% Inti Mining (a90c)_. 6 13% 13% 13%—% 73% 62% Inti Nickel (b50c)._ 54 65% 64 65% 4 % 24% 16% Inti Paper (A)_ 13 22% 21% 21%-% 18 10% Inti Paper (B)_ 2 16% 16% 16% 9% 5% Inti Paper (C)_ 18 8% 8% 8% 121% 90% Inti Paper pf_ 32 117% 113% 116% 4 % 56% 41 Inti Print Ink (t2).. 4 56 56 56 41 111% 109% Inti Print Ink pf (6) 10s 109% 109% 109% - % 52 31% Inti Silver. _ 3 43% 42% 43% 4 % 110 90 Inti Silver pf (a4)._ 60s 103% 102 103% 4 % 15% 11% Inti Tel & Tel _ 21 12 11% 12 — % 36% 28% Interstat Dp St b2% 3 30 30 30 — % 29% 26% Island Creek (2)_ 1 28% 28% 28% 4 % 155 127 Johns-Manv (+3) .. 7 133 127 133 46 126 120 Johns-Mansv pf(7). 10s 125% 125% 125% 4 % 136 123 Jon&L 7% pf(bl%). 170s 126% 126 126 46 38 Kalamazoo S (tl>_ 4 39% 39 39%-% 29 20 Kans City South_ 3 25 23% 25 41% 27% 23% Kayser J & Co (2)._ 2 24 23% 23%-% 23% 17 Kelsey-H A (al%)_. 2 17 17 17 - •% 19% 14% Kelsey-H B (al%).. 1 14% 14% 14% 69% 55% Kennecott (b50c) .. 90 58 65% 58 41 20% 17% Keystone S&W b30o 2 18% 18 18% 4 % 46 38% Kimberly Clark (1). 1 40% 40% 40% 4 % 9% 5% Kinney (G R) Co- 4 8% 8 8% 4 % 71 47% Kinney pf (al) _ 20s 65% 65% 65% 4 % 29% 24% Kresge S S (b30c).. 7 25 24% 26 4 % 24% 22 Kroger Groo (tl.60) 9 22% 22% 22%-% 41% 28 Laclede Gas pf_ 70s 26% 26% 26%-1% 24 18% Lambert Co (2)_ 1 20% 20% 20%-% 27% 17 Lee Rubber (50c)_ 2 23% 23% 23% 4 % 61% 38% Leh Port Cmt 1 % — 4 41% 40% 40%-1% 3% 2% Lehigh Valley Coal. 7 2% 2% 2% 18% 13% Lehigh Val Coal pf. 2 13% 13 13% 24% 17% Lehigh Valley R R-. 1 19% 19% 19% 4 % 137 118 Lehman Corp (T3) __ 1121 121 121 -1% 79 66% Libbey-O-F (b75c)_ 14 67% 66% 67 15% 9% Libby McN & L(al). 9 14% 14% 14% 4 % 114 100% Ligg & Myers B t4_. 6 101% 100% 100% - % »3% by Lima Locomotive_ 3 t m <1 nvi-t-t 61 62 Link Belt <t2) _ 2 63 62% 63 63% 43% Liquid Carb (2.60).. 2 48% 48% 48% + % 82% 64% Loew's Ino (t2)_ 22 80% 78% 80%+% 3% 2% Loft Ino ... 21 3% 3% 3% 75% 56 Lone Star Cmtb75c. 10 62% 62 62%-% 10% 6% Longr-Bell Lumb(A) 11 9% 8% 9% + % 28% 22% Lorillard P < +1.20)_ 4 23% 23% 23%-% 28% 19% Lou Gas* Elec (A). 2 21 20% 21 99 87% Louis* Nash b2%~ 3 88 87% 87% -1% 41% 29% Ludlum Steel (tl)- 7 35% 34% 35%+% 36 33% MacAndre w&F (12). 1 33% 33% 33% 36 30 McCall Corp <+2)_ 1 30% 30% 30% 24% 18% McCrory Stores_ 2 19 18% 19 + % 64% 40% McGraw Elec < +2)_ 1 51 51 51 +% 28% 20% McGraw H Pb27%« 1 22% 22% 22% J2% 37% McIntyre Porcu(2). ^J0 38 37% 37%-% 2% 38% McKeesp't Tin Plate 7 38% 37% 38 - % 2:15 p.m. Prev 193T Stock and Sales— Net High. Low. Dividend Rate. Add 00. High. Low. Close, chge. 16% 12% McKesson & Rob_ 15 14% 14 14%+ % 47% 45 McKess & Rb pf (3). 1 46 46 46 + % 19 15% McLellan Strs b75c. 6 15% 16% 15% 62% 42% Mack Trucks <tl)_ 18 53% 62 53% — % 58% 50% Macy (R H) (t2)_ 4 52 51% 51%—% 15% 11% Madison Sq G(80c)_ 1 13% 13% 13%+ % 63 62 Magma Copper (2)_. 1 62 62 52 — % 30 20 Manatl Sug pf (d)._ 40« 21 20% 21 —1 16% 10% Man El md gtd <d)_ 2 12 11% 12 + % 6% 4% Maracaibo Oil Exp.. 1 5% 5% 5% + % 14% 10% Marine Mid (t40c)_. 11 11% 11 11% — % 3% 2 Market St Ry _ 20b 2% 2% 2% 20 14% Market St Ry pf_ 80s 14% 14% 14% 6% 4% Market St Ry 2d pf. 20s 4% 4% 4% 39 29% Market St Ry pr pf. 10s 30 30 30 -2 51% 43% Marlin Rock (t2)_ 1 44% 44% 44% + % 30% 18% Marshall Field_ 4 26 25% 26 + % 74 58% Masonite (tl)_ 1 58 68 58 — % 41% 36 Mathieson Alk(l%) 1 36% 36% 36% 66% 59% May Dept St (+ 3)_ 4 62 60% 62 +% 33% 25% Mead Corp_ 26 31% 29% 31!%+2 86% 72 Melville Shoe (t5)_. 2 76 75 76 +1% 16% 11% Mengel Co _ 12 14% 13% 14% + % 47% 41 Mengel 1st pf (2%). 200s 44 43 44 +2 72% 59 Mesta Mach (bl%). 6 63% 62% 62%-1% 26% 16% Miami Copper _ 12 19% 18% 19% + % 35% 29% Mid-Cont Pet al,15_. 9 32% 31% 32%+% 48% 38% Midld Stl Prod(t2)_ 3 43 42% 42% —1% 122 116% Midld Stl 1st pf (8). 20s 119% 118 118 120 102 Minn-Hon Ros (2).. 1 109 109 109 +1 16% 11 Minn Moline Pow... 22 14% 13% 14%+ % 101 88% Minn Moline Pw pf_ 1 91 91 91 — % 34 26% Mission Corp (a45c) 1 31 31 31 9% 6% Mo Kans & Texas _ 5 8% 7% 8% - Vi 34% 24% Mo Kans & Tex pf A 5 28% 27% 28% + % 6% 3 Mo Pacific (d) _ 1 5% 5 5% — % 12% 7 Mo Pacific pf (d)_ 2 9% 9% 9% — % 101 89 Monsanto Chm (tl). 9 90 89% 90 + % 69 53% Montg Ward (t2) . 40 61% 58% 61% +1% 3% 1% Mother Lode al2 Vic. 25 2% 2 2% + % 38% 31% Motor Prod (t2) .. 2 32% 32 32% +1 26 21% Motor Wheel(1.60)_ 2 22% 22 22% 54 41% Mueller Brass < +1)_. 3 47% 47% 47%+ % 39% 31 Mullins B (a50c)__. 2 34% 33 34V, +1 99% 91% Mullins pf (7) _ 30s 96 95 95 +1 36% 27% Munsingwear (3)... 1 29% 29% 29%—% 90 70 Murphy G C (2.60).. 1 80 80 80 20% 15% Murray Corp(a50c). 16 16% 16 16%+ % 71 58% Myers (FE) (bl)._. 1 65 65 65 — % 24% 17% Nash Kelv (1) _ 35 21% 21% 21% + % 24 18% Natl Acme (a75c) ... 5 20% 20% 20% + % 18% 13% Natl Aviation <al)_. 2 15 15 15 — % 33% 28% Natl Biscuit (1.60). 19 29% 28% 29% + % 33% 27 Natl Bond & In 1.44. 2 27 26% 27 38% 29% Natl Cash Reg (1) . 3 33% 33% 33%+ % 26% 23% Natl Dairy Prd 1.20. 29 24 23% 24 + Vi 109% 107 Natl Dairy pf B (7). 30s 108% 108% 108% 24% 17% Natl Dept Stores .. 1 19% 19% 19% — % 10% 7% Natl Dept Strs pf .. 50s 8 7% 7% — % 35 27% Natl Distillers (12) _ 64 33% 32 33% +1% 44 33% Natl Lead ( + 500 7 37 35% 37 171 157 Natl Lead pf A (7). 1 156 156 156 -1 61% 48 Natl Mall & S C b50o 1 48 48 48 14% 10% Natl Pw & Lt (60c). 4 11 10% 11 + % 94% 70 Natl Steel (t2%)___ 21 84 82% 84 +1 95 62 Natl Supply Co_ 10 96 93 96 +2% 12% 9% Natl Tea (60c)_ 2 9% 9% 9% - % 13Vs 11% Natomas (t80c)_ 2 11% 11% 11%+ % 41% 31% Newport Ind(boOc). 5 32% 32% 32% 55% 40 N Y Central .. 130 48% 46% 48% + % 9 16 % N Y Cent rts Mayl .981 16 32 14 32 15 32-1 32 31% 27% N Y City Omnibus . 2 28% 27% 27% — % 21V- 17 N Y Omnibus( war). 5 17% 17% 17% — % 12% 8 N Y Dock ... 110s 9% 9 9 — % 25% 17% N Y Dock pf .... 210a 18% 17% 18%. -1 135 129% N Y & Harlem (5).. 10s 130 130 130 —1 9% 5% NY Nil & H (d) .. 7 7Vi 7% 7% 26% 16% NY NH & H pf (d)_. 4 19 18% 19 - ■% 2 1% N Y Investors (d)_ 1 1% 1% 114 6% 5 NY Ontario & W_ 2 5 5 5 15% 11 Vi N Y Shipbuilding_ 2 12 11:» 11% 110 107 NY Steam 1st (7).. 60s 107 107 107 4% 2 Norfolk South (d)._ 2 3% 3% 3% 272 248 Norf & Wst (b2%). 2 250 249% 250 +2 114 102 Norf & W pf (4) ... 20s 102% 102 102 17% 12% North Am Aviation. 50 13% 13 13'%+ % 34% 25 North Am Cotb30c) 28 26% 25% 26% 1- % 104% 97% North Am Ed pf (6) 1 99% 99% 99% - % 36% 27V, Northern Pacific ... 31 31% 30V, 31V4 + % 6% 3V* Norwalk Tire & R_ 5 5% 5% 5% - % 22% 17% Ohio Oil (a60c) ... 61 21% 21% 21%+ % 69V, 53% Oliver Farm Equip. 11 70% 66% 70% - 3% 26% 18% Omnibus Corp vtc._ 5 18% 18% 18%+ V, 19% 13% Oppenheim Collins.. 2 15 15 15 45V, 35% Otis Elev (60c)_ 1 35% 35 35 — % 24% 16% Otis Steel.. _ 18 20% 19% 20% + % 97 75 Otis Stl cv pf (5%). 1 84% 84% 84% —1% 200 150 Owens-Ill G1 (6)_ 4 171% 171 171 15% 10% Pacific Coast _100s 10% 10% 10% 40 25% Pacific Coast 1st pf. 110s 31% 30 30 —2% 27% 19% Pacific Coast 2d _ 30s 18 18 18 -1% 32% 24% Fac Finance(tl.80)_ 1 25% 25% 25% — % 38 30% Pac Gas & Elec (2). 6 31% 31% 31% 53% 43% Pac Lighting (3)_ 2 46% 46 46'% +1% 44% 34% Pac Mills (boOc)_ 1 38 38 38 — % 152 140 Fac Tel & Tel (8)_ 30s 141 141 141 29% 22% Pac West Oil(a65c). 2 28% 28 28 12% lot's Packard Mot (bl5c) 31 10Vs 10% 10% — % 4Vi 2% Panhandle P & R 3 3% 3 3 — % 90 76 Paraffine Co (bl)_ 2 83 82 83 J.4 28% 22% Paramount Pic _ 57 24% 23% 24% + % 26% 20% Paramnt 2d pf 60c_ 8 217, 21 21% •+■ % o t 4'* i-arn utan . y :>% 5% 5% 44% 38 Parke Davis (bl1_ 1 38% 38% 38% 29%. 24% Parker Rust (tlV4)- 4 26% 26 26 — % 7%. 5% Parmelee Trans_ 2 6 5% 6 + % 10% 7% rathe Film Corp_ 32 8% 8% 8% — % 23% 14% Patino Mines(t60c). 7 18% 17% 18%+ i, 7% 3% Peerless Corp _ 9 6% 6% 6% + % 64 50% Penick & Ford(t3)_. 3 52 51 51 -% 103% 97 Penney J C) (4)_ 13 98 97% 98 6% 4% Penn Coal & Coke4 5% 5% 5% 12% 7% Penn Dixie Cement- 6 8% 8% 8% — % 50% 39% Penn Railroad (a2). 20 45% 44% 45% + % 116% 113% Peoples D pf (6%)-. 20s 113 112% 112% —1% 21% 17% Petr Corp Am a90c— 5 19% 19% 19% — % 13% 10% Pfeiffer B 1.20xrts_- 6 11 10-% 11 + % 59% 47% Phelps Dodge b35c_. 13 48% 47% 48%+ % 100% 90 Phila Co pf(6)new_. 1 88% 88% 88%—2% 7% 5% Phila Rap Tr (d)_40s 6 6 6 14 9% Phila Rap Tr pf (d)_ 100s 10 10 10 3% 1% Phila Read C&I (d) . 4 1% 1% 1% 84% 70 Philip Morris(b3 94) 1 71 71 71 59% 49% Phillips Petrol (2).. 26 56% 55% 56%+% 20% 16% Pierce Oil pf_ 4 19% 18 19%+ % 33% 28% Pillsbury Flour 1.60 4 29% 29% 29% 56 50 Pirelli (A) (a3.13) 20s 52 52 52 +1 76% 60 Pittsburgh Coal pf_ 1 65 65 65 —2 175 166 Pitts Ft W & Ch(7)_ 30s 165 165 165 + % 20 13% Pitts Screw&B bl5c. 7 16% 16% 16% + % 43 24% Pitts Steel _ 10 35 34 35 — % 122 103 Pitts Steel pf_ 20s 108 106% 106% —1% 8% 3% Pitts United_ 5 5% 5% 5% 3 2% Pittston Co_ 1 2% 2% 2% + % 28% 24% Plymouth Oil <tl)_ 18 27% 26% 27% + % 33% 24% Poor & Co (B)_ 6 25 24% 25 — % 11% 7% Porto R Am Tob A.. 2 7Vi 7% 7% — % 31% 23% Pressed Steel Car_ 5 24% 23% 24% + V* 31 24 Press Stl 1st pf 25c_ 1 24 24 24 65% 55% Proctor & Gam(t2)_ 7 62 61% 61% — % 118% 114'% Proc & Garnb pf <5)„ 10s 114% 114% 114% — % 52% 43 PubSvcNJ (2.60)-. 14 43% 43% 43% — % 112% 100% Pub Svc N J pf (5).. 1 103% 103% 103% - V. 72% 58 Pullman Inc (1%)_ 8 59% 58% 59% + % 24% 19% Pure Oil _ 50 20% 20 20% + % 112% 108 Pure Oil 8% pf_ 10s 110% 110% 110% 23+4 18% Purity Bak (60c)_ 5 20 19% 19% — % 12+4 10% Radio Corp_ 60 10% 10% 10%+% 80 73% Radio pf A (3%)_ 1 73% 73% 73% — % 9% 7+4 Radio-Keith-Or (d). 76 9% 9 9% + % 25% 14% R R Sec 111 Cent_ 10s 18% 18% 18% -3% 37% 31 Raybestos M <U%) 1 32% 32% 32%-% 47 39% Reading RR (2)_ 1 41 41 41 + % 22% 18% Reliable Str <a50c)_ 1 18% 18% 18% 29% 21% Rem-Rand (t60c) __ 39 24 23 23%-% 94% 80% Rem-Rpf ww(4%). 1 85 85 85 91/a 5 Reo Motor Car_ 29 8 7% 7% — % 47% 27% Republic Steel_ 280 42% 40% 42% + % 120% 109 Republic pf (bl%). 1 114% 114% 114% 48% 33% Revere Copper_ 9 45% 44% 45%—% 97 71 Revere Copper(A).. 3 91 91 91 — % 30% 24% Reynolds Met <tl)_ 4 24% 24% 24% 34% 24% Reynolds Spr (fl)_ 6 25% 25% 25%-—% 58 50% Reynolds Tob B (3). 18 51% 50% 50%—% 86% 69 Roan Antel <al.l2)_ 1 70% 70% 7013—1% 9% 6% Rutland R R pf_ 1 7 7 7 + % 46 38% Safeway Stores(t2) 1 40% 40% 40% 103 97% Safeway Strs pf (5). 10s 102% 102% 102% 113 110 Safeway Strs pf (7). 10s 111 110% 110% 66 43% St Joseph Ld(b50c). 20 54% 52% 54%.+ % 4% 3 St L-San Pran (d)_ 8 3% 3% 3% — % 11% 6% St L-San Fr pf <d)_ 1 8% 8% 8% — % 20% 11 St L Southwn (d)_ 10s 16% 16% 16%+% 27% 14% Savage Arm (al)___ 3 22 22 22 -1 51% 42% Schenley Dist(b75c) 5 47 46% 47 +% 2:1ft p.m. Prev 1937 Stock and Sales Net Htah. Low. Dividend Rate. Add 00. Hlah. Low. Close, chae. 3% 2 Schulte R Strs <d).. 3 2% 2% 2% — % 45% 38 Scott Paper <1)_120» 41% 41% 41% — % 2% 1% Seaboard Air L. (d). 18 1% 1% 1% + % 54% 40% Seaboard 011 (1)_ 15 50% 48 60%+1 95% 81 Sears Roebuck <3)_ 24 88% 86% 88%+% 34 28 Servel Inc <tl)_ 8 29% 28% 29% + % 42% 29 Sharon Stl i+1.20)_ 2 36 34% 36 120 102 Sharon Stl p2 (5)_ 1 102 102 102 -2 14 10% Sharpe & Pohme_ 2 10% 10% 10% 17% 14% Shattuck F G (60c). 1 15% 15% 15%+% 44 37% Sheatfer Pen(bl%). 20a 40 39% 39% — % 34% 26% Shell Un OH <a25c)_ 6 3041 30% 30%—% 105% 102 Shell Un Oil pf 6%_. 1 104 104 104 17% 12% Silver King (b25c).. 11 15% 15 15%+% 58 44% Simmons Co (b50c). *10 52% 51% 52%+ % 4% 3% Simms Petrol_ 14 4 4 60 42 Skelly Oil - 6 57% 56% 56% - % 197 85% Sloss-Sheffield Stl_40s 171 169 171 +1 54% 37% Smith (AO)_ 3 40% 40 40%+ % 29% 21% Snider Pkg (bl %)_ 4 24 23% 24 +1% 19% 16% Socony-Vac (b25c). 101 19% 18% 19% + % 6% 4% South Am G & P 30c 7 4% 4% 4% 42% 34 South Port Sug(t2). 7 38% 37% 38%+ % 32% 26 So Cal Edison tl%_. 4 26% 26% 26% 65% 42% Southern Pacific_ 49 58% 56V, 58% +1 43% 24 Southern Ry- 79 37% 35% 37% +1% 60% 47% Southern Ry pf_ 9 52% 50 51% + % 9% 7 Sparks-Withing_ 6 7% 7 7% + % 31 23 Spear & Co (a50c)._ 1 25% 25% 25%+ % 36 31% Spencer Kell (1.60). 1 33 33 33 — % 23% 19 Sperry Corp vtc(al) 24 19% 19 19'% 34% 28% Spicer Mfg (a3)_ 1 30% 30% 30'% -1 50 45% Spicer pf A (3)_ 50s 48 47 48 +1 28% 22% Spiegel, Inc (1)_ 10 24% 24% 24%+ % 48% 41% Square D (B) b25c_. 2 41% 41% 41%—% 16% 14% Stand Brands* t80c) 38 14% 14% 14% 12% 8% Stand Com Tobac _. 3 10 9% 10 — % 14% 8% Stand Gas & El (d)_ 16 10% 10 10% — % 32% 25 Stand G&E $4 pf(d). 9 25% 25% 25%-% 72% 60 Stand G&E $7 pf (d) 8 62 60% 61%+ % 50 43% Stand Oil Calif (tl). 19 45% 45% 45% 50 44% Stand Oil Ind (tl).. 13 46% 45% 46 — % 76 67% Stand Oil N J (tl) 39 70% 68% 70%+% 75 65 Sterling Prod t3.80. 2 66% 66'% 66% 21 17% Stewart-Warn toOc. 2 18 17% 18 + % 17% 15'% Stokely Bros (11)_ 1 15% 15% 15%—% 33% 22% Stone & Web(a25c). 8 25 24'% 25 + % 20 13% Studebaker Corp_ 34 16% 16% 16%+ % 77% 68 Sun Oil (tl) _ 3 71% 71% 71% 61% 46 Superheater Co (1). 4 48% 48 48 + % 7% 4% Superior Oil _ 11 6% 6 6% — % 47% 37 Superior Steel _ 2 42'% 40 42% + % 39% 32% Sutherland P tl.60.. 2 36% 36% 36%+ % 28% 25% Swift & Co (tl.20).. 6 25% 25% 25%— % 33% 30% Swift Inti Ltd (2) _ 5 32% 32 32% + % 23% 18% Symington ww blOc 8 20% 19% 19%+ % 8% 7% Telautograph (60cj. 2 7% 7% 7% + % 15% 11% Tenn Corp (al5c)_ 11 13% 13 13% 62% 50% Texas Corp (2) _ 87 61% 58% 61% + % 9% 7% Texas Gulf Pr a5c._ 8 9 8% 9 44 38% Texas Gulf Sul < 12) 9 40% 40% 40'% + % 16% 13% Tex Pac C&O blOc . 14 15% 15% 15%+ % 15% 11% Texas P L T (alOc). 8 .2% 12% 12%+ % 13% 10 Thermoid Co _ 4 10% 10% 10% 8% 5% Third Avenue_ 5 5% 5% 5% — % 28% 23 Thompson Pr b40c_. 2 24% 24% 24% —1 10% 6% Thompson Starrett. 3 7 7 7 31% 18% Tide Wat A O (60c). 24 19% 18% 19% -e % 28% 22 Timken Detroit tl . 6 24 23% 24 -r % 79 62% Timken Roller B(3) 6 63 62 62% —1% 17% 15% Transamerica t40c. 107 17% 17 17% — •% 22 % 16% Trans VVst Air a25c 2 17% 17 17% -r % 27% 19% Transue & W (t60c). 2 20 19% 20 11% 8 Tri-Conti <a50c) . 5 9% 9% 9",— % 12 8% Truax-Traer* b25c) _ 3 11% 11% 11% — % 26% 21% Truscon Steel _. 1 21% 21% 21% 40% 33% 20th Cent Fox b50c. 12 38%. 38 38% -t- % 50 42% 20th Cent F pfdti). 1 47% 47% 47% — % 17% 11% Twin City R T .. 2 11% 11% 11% — % 26% 16% Twin Coach (al.40). 11 21% 20% 21% — % 6% 4% Clen & Co _ 5 4% 3% 4 — % 100% 85% L'nd-Ell-Fisher (3). 1 86 86 86 91% 63 Union Bag & P (2).. 2 86% 86 86% — 1% 111 97% Union Carb (3.20).. 25 99% 98 99 28% 24% Union Oil(Calif) 1.20 24 26% 25% 26%+ % 148-1 126% Union Pacific (6) _ 2 141 140 141 +1 31% 26% Union Tnk Car 1.60. 3 28% 28% 28% 35% 27% Utd Aircraft'aSOc). 17 28% 28 28% + % 24% 17% Utd Air Lines a20c_ 23 18% 17% 18% + % 30% 25% Utd Biscuit (1.60)_ 4 26% 26% 26% + % 117% 113% Utd Biscuit pf (7)_10s 117 117 117 -t-2% 91 78 Utd Carbon (4)_ 1 80% 80% 80% +1 " 8% 5% Utd Corp (a20c)_ 38 6 5% 5% — % 46% 41% Utd Corp pf (3)_ 11 43% 42% 43 16 14% Utd Drug (a75c)_ 20 14% 14 14 — l, 25% 18% Utd Dye wood (1)_ 2 23 22 23 -t- % 9% 7% Utd Elec Coal ... 5 8% 8% 8% -*- % 63 46% Utd Eng & Fy f 12)_ 1 54 54 54 %lv, 86% 80% United Fruit (f3)... 7 84 82% 83% +1% 17 13% Utd Gas Imp (1)_ 32 14 13% 14 -t- % 16% 6% Utd Paperboard_ 4 15 14% 15 + n, 20% 15% U S Distributin* pf. 60s 15% 15 15 —1 24% 17 U S & For’n Secur_ 1 19 19 19 34% 24 U S Freight (tl)_ 1 24 24 24 23% 17 U S Hoffman_ 4 21 20% 21 -c a, 43% 37% U S Indus Alcohol_ 10 39% 38% 39% -1- % ' 15% 6% U S Leather vtc_ 8 11% 11% n% _ 22% 13V« U s Leather(A)vtc. 2 19% 19% 19% + % 72% 59% y S Pipe & Fdry(3). 2 61 60% 60% —1% 19% 13% U S Realty & Imp... lo 14% 13’, 14% +1% 72% 44% U S Rubber _ 72 62% 59% 62 ■+• % 118 92% U S Rubber 1st pf_ 4 101 99% 101 —1% 105 83% U S Smelting (b4)_ 8 92% 91 92% -1% 75% 69 U S Smelt pf (3%).. 2 69 * 69 69 126% 75 U S Steel . _ 287 112’, 109 112'-. + % 150 139% U S Steel pf (7)- 3 143% 143 143%—% *'« r L nit stk Yds (50c)_ 9 8 7% 8 + % 8V 5% Utd Stores (A) ... 4 6% 6 6 — % 86 69 Univ Leaf Tob (43). 1 7.3 73 73 +4 108 82 Univ Pictures lstpf 30s 81V 81 81 —2 4V 2% Util Pw&Lt (A)(d). 11 2% 2% 2% 2V l»t Vadsco Sales Corp_. 1 1% 1% 1T» — % 58% 48 Vadsco Sales C pf... 20s 50 49V 50 39V 28% Vanadium Corp _ 30 33% 32% 32% + % 44V 39V Van Raalte(b62%c) 1 40 40 40 12% 7V Va-Car Chemical 45 11% 11% 11% — % 74V 54% Va-Car Chem fiVo pf 3 70 68 70 -f % 12% 8% Va Iron Coal&Coke. 20s 10% 9% 10% -r % 135 127% Virginia Ry pf (6)_. 2 128% 128% 128% —1% 10% 3% Wabash (d) _ 3 7% 7% 7% — 14 18V 9 Wabash pf (A)(d).. 6 14% 14* 14%+ % 19V 15% Waldorf Sys(41.20). 5 15% 15V 15% — % 33 29 Walgreen Co (2)_ 3 30% 30V 30% 18% 11% Walworth Co _ 23 16s, 15\ 16% + Sg 50V 35% Ward Baking (A)_ 1 37% 37% 37% 10% 6% Ward Baking (B)_ 5 8V 8% 8% + % 18 13% Warner Bros Piet... 75 15V 14% 15V + V 1% % Warner-Quinlan(d) 2 1 % % _ % 12% 6V Warren Bros (d)_ 8 10V 10% 10% + % 38% 30% Waukesha Mot (1)_ 1 32 32 32 + % 9% 6% Webster Eisenlohr. 17 7 7 2% 1% Wells Fargo . 40s 2 2 2 56 46 Wesson O&S <t50c) 12 50% 50 50% — % 100% 90 West Penn El pf (6). 30s 92 92 92 109 103 West Penn El pf (7) 40s 104% 104% 104% — % 115% 110% West Pa Pwr pf (6). 20s 112% 111% 112% +1% 11% 8% Western Maryland. 2 10 9% 10 + % 4% 2% Western Pacific_ 1 3% 3% 3% — % 11% 7% Western Pacific pf_. 4 9 8% 9 + % 83% 69 W’estn Un Tel (3)... 4 71% 69% 71 + % 57% 46% Westingh'se A B(l) 9 47V 47 47 — % 167V132 Westingh'se El (bl) 32 135 130% 134 +2 170 150 Westhse 1st pf (bl) 20s 150 150 150 27% 22 Westvaco Chlor (1) 1 22% 22% 22%+ % 34% 30% Westvaco 5%pt 1% 1 31 31 31 +% 120 114 Wheel&L E pf(5%). 10s 122 122 122 +2 65 38 Wheeling Steel_ 4 56% 54% 56%+ % 33% 23% White Motor _ 10 28% 27% 28% + % 18% 15% White Rk M S(1.40) 1 16% 16% 16% 6% 5% White Sewing Mach 2 5% 5% 5% 46% 35% White Sew Mch pf„ 1 36% 36% 36% + % 6% 4% Wilcox Oil & Gas_ 1 5% 5% 5% + % 12% 8% Wilson & Co (50c).. 20 10 9% 9% 65V 51% Woolworth (2.40) . 15 52% 52% 52% — Vi 47 34% Worthington Pump. 5 38% 37 38% — % 112% 81 Worth Pump pf (A). 30s 106 105 105 —2 100 77% Worth Pump pf(B). 1 88% 88% 88%-% 76 68% Wrlgley W lr (+3)_ 2 70 69% 69% — V 62% 49% Yale&Towne(t60c). 1 50% 50% 50%—1% 37V 20% Yellow Tr & Coach.. 55 30% 29 30%+% 46% 40 Young Spr&W(t3). 2 42 42 42 + % 101% 75% Ygstn S&T (b75c) . 22 88% 86% 88%+ % 115 99% Ygstn S&T pf (5%). 1 99% 99% 99% 40% 31 Zenith Radio (bl).. 4 32 32 32 - % I 9% 6% Zonite Products- 3 6% 6% 6% — % Approximate Sales of Stocks on the N. If. Stock Exchange. 11:00 P.M_ 250,000 12:00 Noon_.380.000 1:00 P.M__ 540.000 2:00 P.M_. 800.000 Dividend rates as given In the above table are the annual i cash payments based on the latest quarterly or half-yearly dec larations s Unit of trading less than 100 shares. tAnnual rate— not including extras. a Paid last year. b Paid this year, a Companies reported In receivership or being reorganised x Ex dividend RETAIL DRUG SALES SHOW FURTHER RISE Earnings for First Quarter Well Ahead of 1936, Special Sur vey Indicates. Special Dispatch to The Star. NEW YORK, April 12.—Concerns engaged in the manufacture and dis tribution of drugs promise to continue this year the sales and earnings prog ress of 1936, according to Poor’s In vestment Advisory Service. Retail distribution of drug products last year increased from 12 to 20 per cent over that of 1935. Manufacturers recorded gains ranging from 10 to 15 per cent in output, with mo6t producers oper ating on the most active schedules in six years. “’For the first three months of 1937 retail sales ^questionably were con siderably above the corresponding period of 1936.” o “Unseasonably war sections of the caused the epiderr pneumonia, which demand for vaccir ventative medicim “Unseasonably < gions that usual! similar effect. hT movement was fu the floods, which an immediate den but which also ne< by druggists whos aged by the water intinues the report, m weather in many :ountry apparently ic of influenza and brought a spurt in es, serums and pre s of all types, old weather in re 1 are warm had a en the drug-buying rther stimulated by not only brought land for medicines, essitated restocking : goods were dam s.” -• STEEL FIRM TO EXPAND. CHICAGO, April 12 (£>).—Joseph L. Block, vice president of the Inland Steel Co., announced plans to con struct five new open hearth furnaces at the firm’s Indiana Harbor, Ind., plant. This will raise the total to 36 furnaces and increase the annual ca pacity fri&n 2,340,000 tons to 2,800,000 tons, Block said. POWDRELL & ALEXANDER SHARES ARE OFFERED By the Associated Press. NEW YORK, April 12.—An offering of common stock of Powdrell & Alex ander. Inc., consisting of the unsub scribed portion of an original offering of 55,788 shares, is being made by a syndicate headed by Tobey & Co., Jackson Bros., Boesel & Co. and Wat son & White at the market price on the New York Curb Exchange. Proceeds will be used for purchase of new equipment. Company manu factures curtain fabrics. Principal plants are at Danielson, Attawaugan, Ballouville and Amsbury, Conn. SANTA PE NEEDS DIESELS. NEW YORK, April 12 (IP).—Atchi son. Topeka & Santa Fe System will enter the market for 11 diesel en gines, says Railway Age. The Frisco RsRlway System is building 16 loco motives in its own shops. Market Recovers Quickly, Despite Rulings on Wagner Act. Stock Averages 30 15 15 50 Indust. Rails. Util. Stks Net change. —.2 —.2 —.2 —.2 Today, noon 92.8 44.3 45.6 68.8 Prev. day.. 93.0 44.5 45.8 69.0 Month ago. 99.0 47.2 48.1 73.2 Year ago... 85.7 39.0 49 0 64.8 1937 high— 101.6 49.5 54.0 75.3 1937 low... 92.8 37.8 45.7 68.7 1936 high.. 99.3 43.5 53.7 72.8 ‘ 1936 low... 73.4 30.2 43.4 55.7 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, A-sscclateci Press Financial Writer. NEW YORK, April 12.—The sweep- - ing Government victory before the Supreme Court in the Wagner labor relations act cases today failed as an important stock market motivator. tower from the start, leading issues [ extended their declines fractions to j around 3 points when the final deci j sion upholding the New Deal was i handed down. The dip was only mo ' mentary, however, and the list quickly J righted itself. United States Steel, one of the j principal sufferers, canceled its loss, j Coppers converted minus signs into i plus ones and at the close quotations I were no more than moderately mixed. Dealings were exceptionally quiet | the greater part of the time. At noon i when the high tribunal convened the j ticker tape was almost motionless for j several minutes. Activity picked up a bit on the subsequent brief sell off and again near the finish on buy j ing in the motors. Transfers were in the neighborhood of 1,200,000 shares. Business news had its bright aspect.;. . The American Iron and Steel Insti | tute estimated this week's mill op ; erations up .4 of a point at 90.3 per j cent of capacity. On the other hand, brokers thought, the continuance of deflation ary psychology tended to restrain speculative and investment forces. " Improvement of fractions to about 2 points was recorded for shares of Bethlehem Steel, Republic, Chrysler, General Motors, Goodyear, United States Rubber, Goodrich, Western Union, Consolidated Edison, Santa Fe, Electric Power & Light, General Elec tric, Anaconda, Kennecott, American Smelting, Westinghouse and Incius i trial Rayon. Johns-Manville jumped ! around 6 points. -• CHICAGO GRAIN By the Associated Press. CHICAGO, April 12.—Influenced by auspicious conditions for large crops in this country and by notable falling ofl in export buying, wheat tumbled 3 cents maximum late today. Downturns of securities were a con tributing factor on the side of the „ lower prices for wheat. Arrivals of Argentine corn in Chicago and St. Louis today led to independent sharp setbacks of corn values. At the close wheat was 2 cents to 3 cents under Saturday’s finish, May, 1.37l2-l-37%; July. 1.233/4-1.23 7*; corn, l-%-4 cents down, May, 1.29% 1.293*; July, 1.20'2-1.20**; oats. %-% off. and provisions at 20 to 32 cents decline. WHEAT— Open. High. Low Close. Mav 1.36s, 1.39% 1.37s, 1.37%-% July 1.25% 1.25% 1.23% 123%-;, Sep 1.21s, 1.22 1.10s, 1.19%-% * CORN— May new .1.30% 1 34 1 29 1 29%-% May old . 1.26 July, new 1.21% 1.22% 1.20% 1.20%-% I July, old 1.17% - 1.17% Sep . .1.11 1.11% 1.10 1.10% OATS— May .49% .50% .49% .49s,-50 July . .46% .47% .46% .46%-% ' Sep 427, .43% .42% .42s,-3* SOY BEANS— | May 1.73s, 174% 1.73s, 174% July _ . __ ... . 1.68 ye_ I May .1.17 1.17s, 1.16 1.16s, 'July __1.08% l.its% 1.07 1.07% Sep 98% .98% .96% .96% BARLEY— i May .78s, LARD— May 12 05 12.10 11.80 11.87 ! July _ . 12.35 12.40 12,10 12.12 Sep _ 12.60 12.67 12.40 12.42 Oct 12.67 12.72 12.45 12.50 BELLIES— Mav 16.15 16.15 16.00 16 00 July 16.50 16.50 16.40 16.40 Chicago Cash Market. Cash wheat; No. 1 dark hard, 1.43V-2; No. 2 dark hard. 1.43Vi; No. 1 hard. 1.44; No. 2 hard, 1.43%. Com: No. 2 yellow, 1.3934-1.40Vi: No. 3 yellow, 1.363/4-1.39Vi; No. 4 yellow. 1.36-1.37; No. 5 yellow, 1.35; No. 2 white, 1.40; No. 3 white. 1 .373-4-i.3812; No. 4 white, 1.38Vi; No. 5 white, 1.33 Vi- Oats No 1 white, 55%; No. , 2 white. 55-55Vi: No. 3 white. 54%-%; barley feed, 75-85; malting, 1.00-1.27; timothy seed, 4.75-5.25 hundred weight; clover seed, 28.00-34.00 hun dredweight. Baltimore Quotations. BALTIMORE, April 12 OP!.—Wheat. No. 2. red Winter, garlicky, spot domestic. 1.49%; April. 149%. Winnipeg Prices. WINNIPEG April 12 OP).—Grain range today: _ WHEAT— Previous High Low Close. close May _1.46% 1.42% 1.42% 1.47% July _ ..1.46% 1.37s, 1.37s, 1.41s,-% Sep. ...1.24% 1.21s, 1.21% 1.25%-% May' _ .61% .59% .59% .61% _._* INSURANCE SHARES GO LOWER DURING WEEK Special Dispatch to The Star. NEW YORK, April 12.—Insurance stocks in the New York City market declined to a new low on Thursday, but recovered slightly at the close of the week, according to records com piled by Hoit, Rose & Troster. The aggregate value of 20 leading fire and casualty insurance issues on April 8 totaled $607,760,000 (the new low). The close on April 9 was $609,609 - 000, compared with $621,292,000 at the close of the previous week, a net decrease of $11,683,000, or 1.88 per cent. The current average yield of the 20 issues of 3.68 per cent compares with a yield of 3.61 per cent on April 2. The current market value equals 1.10 times the current liquidating value, against 1.12 times a week ago. 1 FOUNDATION CREDIT CO. rtr.it. /7<*> Preferred. $10 per Cnlu } Common. *8.50 par Price, $12.50 per unit Sold only on prospectus, which may be obtained by request from— Allied Underwriters, inc. 1 Shoreham Bldg., * Waehington, D. C. Natl. 1121