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Chester Hoyt of Albany Speaks on Subject at Session Here. BY EDWARD C. STONE. Relations between the bank presi dent, the directors and the auditor were taken up at the second day’s ses sion of the National Association of Bank Auditors and Controllers at the Wardman Park Hotel this forenoon. The speaker on this subject was Chester W. Hoyt, controller, State Bank of Albany, N. Y„ with Herman L. Pritchard, Second National Bank, Paterson, N. J„ presiding. L. R. Pennington, special agent accountant. Federal Bureau of Investi gation, Department of Justice, was the second speaker, his subject being, “Bank FYauds and Defalcations." Six subjects of deep concern to big banks were discussed last night at a forum led by Arthur K. Schulz, Chase National Bank. The subjects in cluded the definition of control, how can broader recognition of control be obtained, rotation of clerical staffs, virtues and vices of instruction manuals, distribution of expenses in curred by one department or office to another and sources of greater income and extended service. Other Problems Discussed. Six other subjects of special concern to the smaller banks were fully con sidered at another group round table, with W. T. Vandoren, vice president and cashier. Liberty National Bank, Washington, presiding. The topics given particular attention covered the value of an actuarial system In a small bank, benefits derived from monthly reports of operations, advisability of rotating employes, maintaining of gen eral ledger for trust department, daily collection of interest in note depart ments and some of the fields for further extension of banking service. Bankers at both foruftis heard many constructive ideas presented. The convention program was concluded late this forenoon. Delegates and guests were to spend the afternoon on sight-seeing tours. The two-day con ference will be concluded this evening with an informal dinner. Strickland Gillilan acting as toastmaster. The guest speaker will be Edward Stone, an economist who is chief of the com munity organization and maintenance section, management division of the Resettlement Administration. Nine special exhibits of office equip ment have been on display at the hotel during the meetings and have drawn much attention. Members of the auditors’ section. District Bankers’ Association, received general acclaim , from visiting financiers for the suc cess of the program. Committee Heads Lauded. Chairmen of the leading committees included R. Earle Haycock, Riggs National; William B. Mehler, jr., City Bank; H. Norman Glasco, Union Trust; Harry L. Downey, Washington Loan & Trust; Gerald E. Keene, Sec ond National; Millard S. Yeatman, Hamilton National; A. S. Oflutt, City Bank; William S. Harris, Lincoln National; Arthur J. Hamilton, Na tional, and Raymond G. Marx, general . chairman. The address yesterday afternoon by John Driscoll of Philadelphia on 'Comparative Costs and Operating Efficiency,” was read by Paul Williams, Corn Exchange Bank & Trust Co„ Philadelphia, the writer being de tained at home on account of illness. The address of H. H. McKee, chair man of the Washington Clearing House Association, was considered one of the finest made during the con ference. n. special coramiuee was named to consider the future of these confer ences. The committee consisted of Raymond G. Marx, chairman: Charles , L. Brown, Baltimore; William E. Westman, Boston; Millard S. Yeat man, Washington, and James H. Lawrence, New York. The recommen dations will be forwarded to all the cities in the Eastern region and be acted upon later. Commercial Loans Increase. The volume of outstanding loans of Insured commercial banks in the Fed eral Deposit Insurance Corp. as of December 31, 1936, was 8 6 per cent above that reported for the 1935 year end, while holdings of commercial or ‘‘other securities” increased 10.4 per cent, statistics compiled by the F. D. I. C. of 13,974 Insured commercial banks show. Despite the increase in these assets j>i F. D. I. C. members, holdings of United States Government obliga tions. direct and fully guaranteed, con tinued to increase at a much faster pace, rising 11.8 per cent in the same period. Loans outstanding were $1,300,000, 00$ greater, totaling $16,000,000,000 on December 31, 1936, compared with $14,700,000,000 year before and were higher than they have been on any previous F. D. I. C. "call date.” Dur ing 1935 loans increased by only $94,000,000. Heard in Financial District. Robert V. Fleming, Sidney F, Talia ferro, Wilmer J. Waller and E. E. Mountjoy have returned from the Executive Council meeting of the American Bankers’ Association at Hot Springs, Ark. Mr. Fleming left Wash ington last night for White Sulphur Springs, W. Va., to attend the annual convention of Reserve City Bankers. The District Life Underwriters’ As sociation has nominated six directors, three of whom will be elected at the p.-»May meeting, the nominees being John E. O’Brien, Connecticut Mutual; Richard W. Griswold, Guardian Life; i Graham E. Wilsin, Massachusetts Mu tual; Garland M. Terry, Equitable of New York; James A. De Force, Mu tual Benefit Life, and H. Gordon Ed monds, State Mutual Life. Those elected will serve three-year terms. The final session of the public •peaking class, Washington Chapter, American Institute of Banking, was held in the form of a dinner meeting •t Wesley Hall. Past and present members of the class were present and •U were called upon for a few words. Dr. Elmer Louis Kayser, instructor, delivered the principal address and Wallace E. Schreiner, chairman of ’ the Public Speaking Committee, acted as toastmaster. Transit's March Net Picks Up. Although indicating no immediate dividends for stockholders, the March report of the Capital Transit Co., filed today with the Public Utilities Com mission, revealed a net income of $17, 731.33 against a deficit in March 1936 of $5,614.50, thereby placing the improvement for the month at $23,345.83. While first quarter figures were in the red by $2,513.89, they compared » with a deficit in the same quarter ol 1936 of $84,662.38, making an im kprovement for the quarter of $82, 148.49 or 97 per cent. TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE Br Private Wire Direct te The Star. Prer 1937 Stock and Sales— Net High. Low Dividend Bate Add 00. High. Low. Close, ehge. 65 49% Abbott Lab (11.60}_ 1 50% 50% 60% - % 84% 63% Acme Steel (4)- 2 80% 80 80 -1% 22% 15 Adams Exp (a55c)_. 80 18% 18 18 — % 28% 24% Adams Millls <bl)_. 1 26 26 26 — % 4% 2% Advance Rumely_ 1 2% 2% 2% — % 80% 68% Air Reduction (tl)_ 7 73% 72 72 —1% 5% 3% Air-Way Electric.„ 2 3% 3% 3% 15% 12% Alaska Jun <t60o)__ 4 13% 13% 13%—% 6% 3% Alleghany Corp_ 11 4 3% 3% — % 69% 43% Alleg pf ww $30_ 6 47 46% 46% —1 69 43% Alleg pf ww $40_ 1 47% 47% 47% — % 45% 36% Alleg Steel <b,0c)._ 6 36% 36% 36% 258% 226 Allied Chem (6) ... 2 238 237 237 -1 33% 25% Allied Mills <b50c). 8 26 25% 25%—% 21% 16% Allied Stores (b20c) 25 18% 18 18%—% 83% 63V* Allis-Chalm (b50c). 20 67% 66% 67% - % 39% 30% Alpha Port Cmt (1). 2 31 31 31 -1% 8% 4% Amal Leather_ 16 6% 6% 6% - % 52V* 34% Amal Leath pf (3).. 5 40", 40 40%—% 114% 98% Amerada Corp (2)_ 4 99% 99 99% — % 101% 83 Am Ag Chm Del bl. 1 89V, 89% 89%-1 41% 25% Am Bank Not# (tl). 4 27 26% 26% — Vi 75% 59 Am Bk Note pf (3).. 150a 61% 61 61 — % 80% 68 Am Brake Sh <t2»_ 7 61 60% 61 -1 121 99V. Am Can <t4)_ 16 99 97% 99 -1 174 162V, Am Can pf (7)_ 1 154 154 164 — % 71 66 Am Car & Foundry- 6 57 64% 65 -2 104% 92% Am Car & Fy pf(b4) 1 91% 91% 91%-1% 99V, 72 Am Chain & Ca bl._ 8 92 91 91 -1% 148 115 Am Chain & C pf 6_ 1 135% 135% 136%-11% 30% 26% Am Cornel A! a50c._ 4 27 26% 26% — % 33% 27% Am Crystal Bug b2.. 1 27% 27% 27%-% 99V* 94% Am Crys S 1st pf 6_. 10» 97% 97% 97% 13V, 8% Am Encaustic _ 6 10% 10 10% — % 13% 7V* Am & Foreign Pwr.. 4 9% 9% 9% — % 68% 54 Am & For Pw $7 pf. 6 69% 67% 57% —1% 38% 20% Am & For Pw 2d pf. 1 26 26 26 21 18 Am Hawaiian (1) .. 2 19% 19 19 11% 6% Am Hide & Leather. 18 8% 8% 8% — % 65% 37V, Am Hide & L pf (3). 2 45% 45% 45% — % .13. •> 1 . A I r- ... L'-t Am ice __ 5 3*4 3*, 3», — 7* 27s* 17V* Am Ice pf (2)_ 1 24 24 24 — V, 17*4 134* Am Inlerntl (a40c)_ 1 14*4 14*4 I4»i f>87* 43 Am Locomotive_ 8 49», 49 49'* - v* 125 112 Am Loco pf (a3)_ 1111 111 111 -1 29L 22*v Am Mach & F < 11)_ 2 22s* 22V, 224*+ Vi 68*4 50V* Am Metals 3 54 53s* 53s, — V* 129', 120 Am Metals pf <6>__. 1 116 116 116 -4 16V, 104* Am Power & Light.. 26 HP* 104* 10s* - ** 29V4 23 Am Radiator t60c _ 44 23', 23'* 23'*— Vt 45V* 33V* Am (toll Mill tl.20.. 51 37 36!* 37 + 4» 58 41 Am Shlpbldg (2)... 390* 47 467* 47 -Hi 105*, 87s* Am Smelt & Ref(3) 28 87 86'* 86t, -1M, 73V* 54'* Am Steel F (b50c) 7 54 63s* 54 - V* 37* 3s* Am Stl F rts May 15 62 27* 24* 24* 187 167'* Am Tel & Tel (9)._. 21 167'-* 165s* 166 -Is* 99 78', Am Tobacco (5)_ 10 80 797* 79Ti — ** 99'* 804* Am Tobacco B (5).. 22 82 81 81 —Hi 160', 1287, Am Tobacco pf (6).. 1 1287. 1287* 1287* -3V* 20'* 14 s* Am Type Founders. 8 15', lot* 15V* — Vi 297, 207, Am Water W 180c). 11 20s* 20'* 20V* — V, 144* 9s* Am Woolen _ 5 10s* 10!, 10!, 79 64 Am Woolen pf (bl). 7 69 68 68 —IV* 20 6s, Am Zinc & Lead __ 24 167* 147i 147,— »* 79s, 44i, Am Zinc & L pr pf._ t Bt 61 61 _2 69', 527* Anaconda Cop (tl). 78 56 564, 557* 97 79 Anaconda Wire (t2) 1 817* 81V4 81', -1 25s* 18 Anchor Cap (60c).. 2 20'* 20'* 20V,— », 111 106 Anchor Cap pf 6Vi-- 20.110 110 110 10'* 5Vi A P W Paper ... 1 8i* 8'* 8v* — v* 46 41 Archer-Dan-.M(t2) . 6 42'* 41V* 41',— s* 13s* 7 Armour of Ill(b35c) 42 11s* 114, 11H — s* 70'a 59v. Armstrong Cork (2) 14 62s* 61 62 — 4. 16'* 13', Arnold Cnst b62 Vic. 4 13'* 13 13'* 17s* 12s* Artloorn Corp _ 1 127* 127* 12:* 24s* 18'* Assoc Dry Goods . 7 18s. 18V* 18V* — % 106 99 Assoc Inv pf ww(5). 1 99 99 99 87s* 6974 Atch T * S Fe<a2)_. 35 83'* 82'* 83'i — «, I 104 99;* Atch T & S F pf < 6) _ 2 100 100 100 [ 55'a 44>, Atl Coast Ltne(al) . 6 49s* 48s* 48s* — », 29 23 aVtl Gulf & Wst Ind. 1 237* 237* 237*— v, j 37 30'* Atl Refining (tl)... 17 32s* 32', 32V, — H 1161 a 111 Atl Refin pf (4) _ 2112 112 112 18V, 16s, Atlas Corp (80c)_ 73 17Va 17V* 17V* 36s* 26'* Auburn Auto _ 6 30s, 30 30s, — s4 9V* 6s* Aviation Corn Del.. 7 8'* 8',* 8v* — v* IP, 7s* Baldwin Loco (d)_ 6 7s, 7s* 7-v* — v* O' -a 6'a Baldwin asd (d)_ 8 6 s* 6'a 6V, 40' a 204* Baltimore & Ohio .. 66 35s* 347» 35Vi — », 47-s4 33 s* Baltimore & Oh pf.. 9 40 39 39 —H* 434. 357s Barber Co <a75c» .. 7 37'* 37 37'i — V* 42 38 Barker Bros pf 2 4i 100. 39 39 39 35', 26>* Barnsdall (1) ... 11 304* 30s* 30s, — vt 20V, 16'* Bayuk Cigar t75e... 2 16'* 16'* 16v* — vt 28s, 24 Beatrice Cream tl.. 2 25 25 25 — s* 15s* 12s* Belding Hemin (1). 16 13s, 12s* 13 — V* 30', 22s* Bendix Avial b25c> 14 22V* 22V* 22'* — *, 23s* 20s* Benef Ind Ln (b95c) 1 21'* 21'* 21'* + V* 105V, 73 Bethlehem (al V*) . 63 89si 88 887*— S 38 30 Black & Deck b50c— 2 30V, 30', 30', — s* 297* 22s* Blaw Knox (b20c)_. 2 25Vi 25', 25Vi — V* 49s, 334* Boeing Airplane ... 8 39s* 38'* 39 — s, 48Vi 407, Bohn Alum & B(3). 3 45 441, 44ij — 4* 93 So1* Bon Ami A (4) 50. 904 90 90 46', 41s* Bon Ami (B) (2Vi). 70. 44', 44'a 44'i 28 25', Borden Co (1.60) 30 25', 25'* 25V, — V* 43'i 41 Borg-Warner (new) 28 42V, 4lv3 42v, 15s* 8Vi Boston & Maine ._ 3 117* 1H, 11s, —It* 23v, 16s* Bridgept Brss(60c 21 16s* 16V* 16V* — v* 7, Ta Bridkp't Br rts Ap29 56 4, jj, % 597, 45V* Briggs Mfg (+2) ... 10 48', 48v* 48V*— «•* 53'a 437» Briggs & Strat (3).. 1 47', 47V, 47', + s* 53 34V* Bklyn-Man Tr (4) . 5 34s* 34 34 — Vi 52s* 34 Bklyn I n Gas( 1.60) 9 35V* 35 35Vi + Vi 24', 20'* Brunswick-Balke... 2 22V* 20'* 20v* — s» 25V, 18'.* Bucyrus-Erie _ 6 187* 18s* 18s* 14s* 10'-* Budd (EG) Mfg_ 19 11 10V, 11 4- »* 13 9V, Budd Wheel(a20c).. 6 9', 9s* 94* 4- i, 65Vi 50'* Bulova Watch (14)_ 11 56 55", 56 -1 35s, 287* Burr Add M <80c)_ 4 30'i 29V, 30 + Vi ll", 7v* Bush Terminal (d). 7 8V» 8 8v* — Vi 45'-* 24'* Bush T Bldg pf(d).. 40. 35'a 35 35 —2 18V, 13', Butler Bros (bloc). 6 15'* 154* 15s* — 4* 36'* 29Vi Butler pf <174 ) _ 4 31s* 31s* 31s* - Vi 9v* 5s* Butte Cop & Z(a5c). 6 57. 5s* 5s* — V* 334* 25s* Byers (AM) __ 7 26 25V-* 25', — 4* 34s* 27 Bvron Jackson (tl). 2 29',-a 29', 29V* 48'* 38V4 Calif Packing (1 Vi). 2 41 41 41 — v* 6s* 24* Callahan Zinc-Lead 95 41* 4 4'.* + v, 20'* 14V* Calumet&Hecla (1) 13 14V* 14'* 141, — 4, 37s* 29', Campbell Wy (tl).. 1 30 30 30 — v* 38V, 27', Canada Dry G Ale._ 19 30Vi 30 30s*— S 17v, 13s* Canadian Pacific .. 24 134* 13'i 13V, — », 9V, 7 Carriers & Gen(b5c) 8 8>* 8V* 84, — v, 176',s 138 Case(J l)Co (4) . .. 2 163 162 163 100 85'i Caterpillar Tr (t2)_ 3 19V4 91 91 —1 39'i 26s* Celanese (b75c)_ 31 367* 'Seti 36V* — 4* 113Vi 106V, Celanese pr pf A(7). 1 lilt, 1114* 111V, — Vi 12s* 84* Central Foundry 14 9V, 87* 9 86s* 67'* Cerro de Pasco (4).. 5 73 72 73 234* 16V* Certain-teed Prd .. 10 184* 18Vi 18V* -1 82 677* Certain-teed pf (6). 120* 747, 73V, 74 60V, 35V, Champion Pap (tl). 2 55 55 55 —2Vi 111 108'* Champion P pf (6) .. 10. 1087* 1087* 1087* 90', 78s* Chesapeake Crp(3)_ 3 84 834* 83s* —2V* 687* 574* Ches & Ohio t2.80 12 60 59s* 60 + V* 100 91 Ches & Oh pf A (4). 1 96Vi 95V, 95Vi + 4* 13V, 67* Chi & Est 111 pf (d)_ 2 10 10 10 -V, 4 2s* Chi Grt West (d)_ 4 27* 27* 27* — V* 18V* 13v, Chi Grt West pf (d) 2 14 14 14 — Vs 32 274, Chi Mail Ord tlVi-- 1 28Vi 28Vi 28V* 3L* 2 Chi Mil St P&P (d). 3 2s* 2v, 2s* - V* 7V* 44* Chi M St P&P pf(d). 2 5', 5s* 5»* _ t* 19!, 117* Chi & N W pf (d) ... 1 13t* 13v* 131* _ 7, 33 23 Chi Pneumatic Tool 6 257* 254* 25'* — »* 70V* 61Vj Chi Pn T pf b87 Vic.. 3 64 63*, 63"! — V* 3s. 2V, Chi R 1 & Pac (d) _. 6 24i 2»* 24* 8s* 54, chi RI&P 6% pf (d) 1 6V* 6V* 6Vi — Vi 22V* 18 Chickasha Cott'n Oil 1 18 18 18 v* 14Y* ^imusL-o_ 4 14*% 14 1414 4. 14 135% 110% Chrysler (bl% )_.__• 61 116% 115% 116% - % 21% 18% City Ice & Fuel (2). 2 19% 19% 19% 98% 78 Cluett Peabody (3). 3 92 91 91 —2% 130% 126 Cluett Peab pf (7).. 10* 127 127 127 —1 170% 122%.Coca-Cola (12)_ 1 157 167 157 -3% 25% 19% Colgate-P-P(t50c)_ 19 22% 22 22%—% 62% 53 Collins & Aik (t2)3 57% 57 67 -1 51% 39 Col Fuel & Iron(bl) 6 40% 39% 40% 30 22 Colo & South 1st pf _ 70* 23% 23% 23% 20% 13% Columb G& El (40c) 37 14 13% 14 101 90% Col G & E pf (6)_ 20* 91 91 91 39% 32% Columb Pic vtc (tl) 3 33% 33 33 - % 125% 112% Col Carb vto (14)_ 2 119% 119 119 —1% 69% 56% Cornel Credit (t4)__ 3 63 62% 63 + % 80% 64 Cornel Inv T (T4)_ 9 67% 67% 67% — % 21% 16% Cornel Solv (t60c)._ 18 16% 16% 16%—% 4% 2% Comw & Southern.. 45 2% 2% 2% + % 75% 55 Comw & Sou pf (3).. 7 55 55 55 19% 13% Conde Nast Pub ... 2 15% 15 15 — % 45% 36% Congoleum-Nrn(2). 6 39% 38% 38% — % 18% 13% Consol Clear _ 4 14 13% 13% — % 49% 38% Cons Edis N Y(t2)_. 17 38% 38% 38%—% 108 104% Cons Ed N Y pf (6)_. 4 106 105% 105%— % 5% 4 Cons Film_ 1 3% 31^ _ ^ 18% 14% Cona Film pf (a2)_ 1 14% 14% 14%—% 13% 9% Cons Laundries__ 2 10% 10% 10% — Vi 17% 15% Cona Oil (80c)_ 64 16% 16% 16% 1% % Cons Textile (d)__„ 8 % % % 13% 8% Cons Coal (Del) vto. 11 11% 11% n% _ % 52% 33 Cona Coal Del vtc pf 190* 47% 47 47% _i 37% 20% Container Corp 1.20. 62 36 34% 34%—1 37% 27% Conti Baking (A)._. 5 27 26% 27 — % 5% 3 Conti Baking (B)... 117 3% 3 3% 109% 100 Conti Baking pf (8). 2 99 99 99 —1 69% 55% Conti Can (3) 17 66% 65 66 —1% 42% 37 Conti lnsur (tl.60). 6 38% 38ti 38% —1% 3% 2% Conti Motors _ 6 2% 2% 2% + % 47% 40% Conti Oil Del (tl)_ 30 45% 44% 44% -1% 77 63% Corn Ex Bank (3)_ 10* 67% 67% 67% 71% 60% Corn Prod Ref(tS). 16 61% 60% 60% — % 10% 6 Coty Inc _ 10 8% 8 8 — % 65% 46 Crane Co 13 50% 49% 50 — % 37 29% Cream of Wheat(2). 1 32% 32% 32% — % 28% 21 Crosley Radio al%. 1 22 22 22 — % 100% 70% Crown Cork & S(2). 6 77% 76% 76%—1 56% 47% Cm C&S pf ww 2 % _ 1 48 48 48 — % 25% 17 Crown Zeller(new) 28 21% 21% 21% — Vi 108% 99 Crown Zell cu pf(6). 2 105% 105% 105% -1% 81% 51 Crucible Steel ... 4 68% 68 68 -2 14% 10 Cuban-Am Sugar... 10 10% 10% 10% — % 43 39% Cudahy Pkg (2%).. 1 39% 39% 39%+% 20% 15% Curtis Publishing_ 1 16% 16% 16% — % 109% 92% Curtis Pub pf (7)_ 1 96 96 96 -% 8% 6% Curtiss-Wright_ 71 6% 6% 6% 23% 18% Curtiss-W (A )a50c. 20 20% 20 20 - % 86 80 Cushman S pf 3%_ 10* 80 80 80 18% 15% Daveaa Stores(tl)_. 1 16% 16% 15%-% 24 19% Davega cum pf 1V4. 8 20 19% 19%—% 137% 104% Deere*Co.._ 14 129 128 127 31% 29 Deere & Co pf 1.40.. 1 30 30 80 Prev 1937 Stock and Sales— Net Hicb. Low. Dividend Rate. Add 00. Kith. Low. Close, chee. 29 22 Delsel-Wem-G(Tl). 1 23% 23% 23% + % 68% 42% Delaware & Hudson. 7 46% 46% 46 —1 24% 17% Del Lack* West.6 19% 19% 19%-% 10% 7% Den&RG W pf(d). 2 8% 8% 8% - % 12 9% Det & Mackinac_ 20s 11% 11% 11% +1% 26 20% Pet & Mackinac pf_. 40» 26 25 25 36% 30% Diamond Match (tl. 8 31% 31% 31%+ % 23 21% Diamond T Mot b25o 6 21 20% 20% — % 29 23 Distil Corp Seag. ... 6 23 22% 22%-% 464* 36% Poehler Die Cast(2) 13 40% 39% 40 -1 61 41% Dome Mines (t2)_ 8 42% 42% 42%+ % 12% 10 Dominion Stores_ 4 11% 11% 11%—% 77% 54% Douglas Aircraft_ 13.59% 68% 69 — % 180% 164 Du Pont (b76c)_ 10 156 155 155%-1 135% 131% Du Pont deb («)_ 1 132 132 132 + % 115% 112 Duquesne 1st (5)_ 40* 113% 113% 113% - % 17 11% Eastern Roll Mills.. 4 13% 13% 13% 175% 168% Eastman Kodak(6)_ 3 158 157% 158 37% 31% Eaton Mfg (2) _ 32 36% 35% 36 +1% 16 11% Eitington-Schild_ 4 13% 13% 13% — % 29 23% El Paso Nat G 1.60.. 2 24% 24% 24% - % 45% 37% Elec Auto Lt t2.40.. 8 37% 37% 37% — % 16 11% Elec Boaf (a60cj ... 8 11% 11% 11% — V* 7% 5% Elec&Musl (al8c)_ 4 5% 5% 5% - % 26% 19% Eleo Pow & Light.. 18 21 20% 20%—% 44% 39% Elec Storage Bat (2] 3 40% 40V* 40% — % 8 6% Elk Horn Cl pf (d)_ 2 6% 6% 5% — % 60 55% Endicott-John (3).. 1 67% 57% 67% 9% 6% Equitable Office B_ 1 7 7 7 + % 23% 13% Erie R R_ 2 19% 19% 19% — V* 35% 26% Erie R R 1st pf- 4 28% 28 28% — % 14% 12 Eureka Vao (80c)_ 2 12 12 12 — V* 34% 28% Evans Prod (Tl)_ 9 29% 29% 29V*— % 6% 4% Exchange Buffet_ 2 5 6 5 — % 5% 3% Fairbanks Co_..220s 4 3% 4 28 20% Fairbanks Co pf_110s 25% 25 25 — % 71% 66 Fairb'ks-Morse (Tl) 2 54 63 53 -3 70 53% Fajardo Sug Co (bl) 1 58% 58% 58% 150 66% Fed Min & Smelter.. 1 125 125 125 -3 129 94V* Fed Mln&Sm pf(7).. 2 100% 100 100% +2% 11% 8% Federal Motor(40c). 2 8% 8% 8% 11 % 6% Fed Screw Works... 7 8 7% 7% — % 43% 36% Fed'd Dept Str<2)._ 1 36 36 36 - V* 45% 37% Fidel Phoenix T1.60. 1 39% 39% 39% 41% 32% Firestone T&R (2). 4 36% 35% 35% — % 62% 46V* First Natl Strs t2% 1 47% 47% 47%—% 46% 37 Flintkole Co (1) _. 4 36% 36 36% — % 58% 46 Florence Stve boOc. 1 50% 50% 50% - % 39% 34 Florshelm A (2)_ ] 35 35 35 -1 9% 6% Follansbee Bros(d). 3 8% 7% 7% — % 58 47% Food Machine (1)_ 1 55 55 55 —V* 54% 43 Foster-Wheeler_ 9 49% 47% 47% —2 32% 26% Freeport Sulph (1). 2 28V* 28 28 19% 14% Gar Wood Ind a55c. 4 14% 14% 14% — % 86% 69% Gen Am Trans (a3). 3 71 70% 70%—% 19% 13% Gen Bakins <t60c)_. 6 13% 13% 13% — % 153 145 Gen Baking pf (8)_ 10» 145% 145% 145% -1% 14 9% Gen Bronze_ 4 10 10 10 — % 32Vi 25% Gen Cable_ 1 28 28 28 — % 65 62% Gen Cable (A)_ 1 54% 54% 54% -2 126% 114% Gen Cable pf (a7) 1 120 120 120 — % 52% 43 Gen Cigar (74)_ 1 43% 43% 43% —IV* 64% 51% Gen Electrio (b40c). 80 63V* 52% 52% —1% 44% 39% Gen Foods (2)_ 8 41 401* 40% — % 3% 2% Gen Gas St Elec(A). 15 2% 2% 2% 65% 60 Gen Mills (3) _ 4 65% 65 65% + % 70% 57% Gen Motora(b25c)_. 228 58V* 57% 58% 122% 114% Gen Motors pf(5) 1116 116 116 + Vi 5% 4 Gen Pub Service_ 2 4 4 4 66% 46 Gen Ry Signal (X)_ 6 47 46 46 -1 6% 3% Gen Realty & Util_ 67 3% 3% 3% — % 48% 37% Gen Realty & U pf.. 5 37% 36% 36% — % 74% 60 Gen Refract (a3%). 1 61% 61% 61%-1% 33% 27V* Gen Thea Eq(b25c)_ 1 27% 27% 27% 20% 151* Gillette S Rax (71)-. 7 16% 16% 16%+ % 29% 20% Gimbel Bros_ 29 25 24% 25 — % 61% 43 GliddenCo(2)__ 5 44% 44% 44% 6% 5% Gobel (Adolf)_ 3 5 5 5 — 8V* 6% Goebel Brew(720c). 4 7 6% 6% — % 50% 31 Good rich (BF) (al)_ 26 46 45% 45% — % 87% 79V* Goodrich pf (5)_ 3 83% 83% 83v* - % 47% 27% Goody r T&R b50c._ 87 43% 42% 43V* — % 13% 10V* Gotham Silk Hose_ 2 11 11 11 — % 4s* 3 Graham-Palge_ 32 3% 3% 3% — V* 15 6% Granby Cons_ 6 9% 9 9 — Vi 7 32 1 32 Granby rights Ap 26 41 1 32 1 64 1 64 -1 64 27% 21% Grand Union pf(bl) 2 21% 21% 21% 48% 38V, Granite City Stl(l). 5 38% 37% 37% -1 55V* 40% Grt Northern pf_ 15 62 51% 51% — % 28% 19 Grt Northn Ore (1). 4 24 23% 23% — V* 42Vi 35 Grt West Sug 72.40. 1 35% 35% 35% 39% 32Vi Green H L (71.60) 4 34% 34% 34% - Vi 64% 60 Green Bay&W b3% 10i 59% 69% 69% -3% 16% 13% Greyhound (t80c)_. 14 14% 14% 14% 17V, 12V, Gulf Mobile * N_ 1 13% 13% 13% - V* 20% 13% Hall W F Print _ 3 17% 17% 17% - Vi 31 25% Hamilton W (b65c). 2 29 29 29 68% 45 Harb-Walker (72).. 8 45 44V* 44% — % 8 5% Hayes Body ..... 2 5% 5% 5% — % 109% 101 Hazel Atlas G1 (76). 1 106% 106% 106% - % 15% 13 Hecker Prod <60c).. 27 14 13% 14 + % 166 149 Helme (GH) pf (7). 30, 148% 148% 148V* - % 185 150% Hercules Pwdr (6). 1 159 159 159 +2 30% 21 Hollander & Son(l). 8 27% 27% 27%- % 43% 31% Holly Sugar (72)._. 4 33% 38 33 -% 43 1 355 Homestake (712)... 290* 375 360 360 -16 27% 21% Houd-Her B (71%). 6 22% 22 22% 17% 12% Houston Oil vtc_ 18 14% 14% 14% — % 90V, 62% Howe Sound (73)_ 17 82 80V* 80% -2 23% 18% Hudson Motor__ 17 20% 20V, 20% — Vi 3% 3% Hupp Motor (new). 9 4 3** 3% + % 38 22% Illinois Central 13 33 32% 32%-% 22% 12% Indian Refln (al)._. 1 15% 15% 15% — V* 47% 36% Indus Rayon (2)_ 16 43% 42% 43% — % 144 129% Ingersoll Rand(72). 1 128% 128% 128%-1% 33% 22% Inspiration Cop ... 10 24% 24% 24% - % 6 6 Insur Sh Md (blOc). 4 5 5 5 13% 8% Inter Rap Tr vtc(d) 1 8% 8% 8% — % 1H, 4% Intercontl Rubber.. 2 8% 8% 8% — % 28V, 16% Interlake Iron__ 38 20% 20% 20% — % 9% 6 Inti Agricultural_ 9 7% 7% 7% — % 189 159% Inti Bus Mach(t6).. 2 161 161 161 -3 111% 99% Inti Harvesters %) 30 106% 105% 106 - Vi 16% 8% Inti Hydro El A ... 20 11% lit* 11% - V* 15V* 6!, Inti Mercantile M 9 11!, 11% 11%-% 18% 12% Inti Mining ta90c)_. 3 13 12% 12% - % 73% 61% Inti Nickel (b50c)._ 41 62% 61% 62%+ % 24% 16v, Inti Paper (A)_ 5 191, 19% 19% - % 18 10% Inti Paper (B)_ 14 13% 13% 13%-% 9V» 5% Inti Paper (C)___ 36 7% 7% 7% — % 121% 90Vi InU Paper pf_ 29 109 107 108V, -1% 64% 41 Inti Print Ink (72).. 4 61% 61 61 -2 111% 108V, Inti Print Ink pf(6) 20» 107% 107% 107% -1% 10 7% Inti Ry Cent Am. 60, 7% 7% 7% 8% 6% Inti Ry Cent Am vtc 80s 6% 6% 6% 28% 26% Inti Salt (71%)_ 2 26% 25% 25%-% 52 31% InU Silver_ 1 45 46 45 -1 15% 11% InU Tel & Tel_ 36 12 11% 12 36% 28 Interstat Dp St b2 % 1 28 28 28 ioo iai jonni-jrianT (Ti)_ o xau izh iau —1»* 136 123 Jon&L 7% pf(bl4). 10* 128 128 128 46 38 Kalamazoo S (tl)_ 2 364 354 354 -24 29 20 Kan» City South_ 2 25 25 25 -4 274 234 Kayser J & Co (2)_ 1 244 244 244 -4 234 17 Kelsey-H A (al 4)- 4 18 18 18 194 144 Kelsey-H B (al 4).. 1 144 144 144 -4 694 554 Kennecott (b50c) .. 51 564 564 564 — 4 204 174 Keystone S&W b30o 4 184 18 184 + 4 464 884 Kimberly Clark(l)_ 2 444 444 444 -14 71 474 Kinney pf (al)_ 10* 674 674 674 — 4 294 244 KresgeSS (b30c)._ 7 254 25 254 474 39 KressS H (1.60) ... 3 37 34 34 -5 244 22 Kroger Groo (tl.60) 6 224 224 224 + 4 24 184 Lambert Co (2)_ 2 214 214 214 - 4 274 17 Lee Rubber (60c)_ 1 25V* 254 25V* 614 384 Leh PortCmt 14-— 1 394 394 394 -1 34 2 Lehigh Valley Coal. 1 2 2 2 —4 184 11 Lehigh Val Coal pf_ 4 104 104 104 -4 244 174 Lehigh Valley R R_ 8 19 184 184 -14 137 118 Lehman Corp (t3).. 4 1244 1244 1244 -44 684 484 Lerner Stores(t2).. 1 494 494 494 -14 79 664 Llbbey-Ow-F b76c.. 3 674 674 674 —4 154 94 Libby McN*L(al). 4 134 134 134 -4 284 254 Life Saver (tl.60).. 1 27 27 27 -4 114 974 Ltgg* Myers Bt4 1 974 974 974 -4 175 156 Ligg * Myers pf (7). 3 153 163 153 -8 534 434 Liquid Carb (2.60).. 4 62 504 504 —4 844 644 Loew’s Ino (t2)_ 80 804 794 794 -14 34 24 Loft Inc_ 9 3 24 24 764 56 Lone Star Cmt b75c. 3 574 664 574 — 4 104 64 Long-Bell Lumbl A) 2 84 84 84 —4 284 224 Lorillard P (tl.20). 5 224 224 224 99 874 Louis* Nash b24- 4 904 90 90 -1 414 294 Ludlum Steel (tl).. 9 35 344 344 —4 244 18 McCrory Stores . 6 18 174 174 — 4 1064 984 McCrory Strs pf (6). 1 95 95 95 -24 544 404 McGraw Elec (tZ).. 1 524 524 524 — V* 424 354 McIntyre Porcu(2). 6 364 364 36V* - 4 424 334 McKeesp't Tin Plate 7 35 344 344 — V* 164 124 McKesson & Rob 15 144 14 14 - y* 19 164 McLellan Strs b76c. 1 154 164 154 - 4 624 424 Mack Trucks (t))._ 4 52 52 52 -4 684 494 Macy (R H) (t2)_ 6 504 504 604 -14 154 114 Madison Sq G(80c)_ 1 184 134 134 164 104 Man El md gtd (d) 8 10 94 94 -14 294 214 Manhat Shirt (1)—. 4 22 21 21 -4 64 44 Maracaibo Oil Exp.. 1 44 44 44 144 104 Marine Mid (t40o).. 1 114 11V* 114 20 184 Market St Ry pf_ 20* 14 14 14 39 284 Market St Ry pr pf_ 20* 31 294 31 + 14 304 184 Marshall Field_ 23 264 244 25 -1 74 68 Masonite (tl)._ 3 614 61 61 -3 414 86 Mathieson Aik (14) 1 364 364 864 -4 664 594 May Dept St (t3)_ 1 594 694 694 -4 154 12 Maytag Co (a50c)_ 4 124 12 124 -4 344 254 Mead Corp_ 12 31 294 30 -1 864 72 Melville Shoe (t5)_. 4 754 744 744 -14 164 114 Mensel Co _ 17 134 134 134 41 36 Merch&Min (tl.«0)_ 10* 364 364 364 724 69 Mesta Mach (bl4). 2 63 63 63 -2 26V* 164 Miami Copper .. 21 18 174 18 - V* 354 294 Mid-Cont Pet al.15. 6 314 314 314 -4 484 384 Midld Stl Prod(t2). 4 424 424 424 -4 122 1164 Midld Stl 1st pf(S). 10*118 118 118 -4 120 102 Mlnn-Hon Ros (2).. 2 107 106 105 -34 164 11 Minn Moline Pow.. 36 14 134 14 -4 34 264 Miseion Corp (a45c) 3 294 294 294 — 4 94 64 Mo Kans & Texas 6 84 8 8 —4 344 244 Mo Kans & Tex pf A 4 28 274 28 64 3 Mo Paciflo (d) _ 6 54 54 64 -4 124 7 Mo Pacific pf (d)_ 3 94 94 94 —4 404 304 Mohawk Carp( 1.20) 8 364 35 35 -4 101 89 Monsanto Chm(tl). 1 90 90 90 -4 69 634 Montg Ward Ct2)._. 83 664 644 554 -24 34 14 Mother Lode al 2 Vio. 10 14 14 14-4 384 314 Motor Prod (t2)_ 16 364 354 36 -4 26 214 Motor Wheel(l.«0)_ 6 224 224 224 - 4 394 304 Mullins B (a50e)_ 2 324 32 32 -4 994 914 Mullins pf CU__ 10* 944 944 944 -14 90 70 Murphy GC(2.«0)_. 2 814 814 814 - 4 Prev 1937 Stock and Bales— Nat High. Low Dividend Rate. Add 00. High. Low. Close, chge. 25 32 18 82 Murphy rts May 10. 1 22 32 22 32 22 32 20% 15% Murray Corp(a60c). 8 15% 16% 15% - % 24% 17% Nash Kely (l)_ 17 21 20% 21 47% 38 Nashv Chat * St I*.. 60s 40 40 40 + % 24 18% Natl Acme (a76o)_ 6 19% 19% 19% - % 18% 13% Natl Aviation <al)_. 1 14% 14% 14%-% 33% 26% Natl Biscuit <1.60). 31 26% 26% 26%-% 33% 26% Natl Bond & In 1.44. 1 28% 28% 28% + % 38% 29% NaM Cash Rer <1)__ 15 32% 31% 31% -1 26% 23% Natl Dairy Prd 1.20. 14 23% 23% 23% - % 24% 17% Natl Dept Stores... 8 20 19 20 + % 10% 7% Natl Dept Strs pf... 1.10* 8 7% 8 + % 35 27% Natl Dlstlllers(t2). 44 32% 32% 32% 38 30 Natl Bn & 8tps <2). 1 33 33 33 18% 17 Nat'l Gypsum Co... 3 17 17 17 44 33% Natl Dead <t50c)___ 23 36% 35 36 -1 14% 10% Natl Pw & Lt (60c). 6 10% 10% 10% 94% 70 Natl Steel <t2%)___ 10 87 85% 86%-% 102% 62 Natl Supply Co_ 10 96% 92 92 -5 12% 9% Natl Tea (60c)_ 2 9% 9% 9% 13% 10% Natomas (t80c)_ 6 11 10% 10%-% 57% 47% Netsner Bros <t2)._ 1 48% 48% 48% —1% 64% 64% Newberry JJ t2.40„ 1 55% 55% 55% - % 37 19 New Orl T&M (d)._. 10s 28 28 28 -2 41% 31% Newport lnd(b50c). 5 31% 31% 31%-% 98% 78% N Y Air Brake (al). 3 82 81% 81% -1% 55% 40 NY Central .. 161 48% 47% 48%-% 9 16 13 32 N Y Cent rts Mayl.. 277 14 32 13 32 13 32 -1 32 72 41 N Y Chi & St L_ 4 69% 68% 68%-1% 100 83 N Y Chi & St L pf_ 1 91% 91% 91% -2% 31% 27% N Y City Omnibus.. 4 27 27 27 - % 21% 17 N Y City Omnlb p w. 2 17 17 17 -1% 25% 17% N Y Dock pf .. _ 80s 20 19% 20 -1 136 129% N Y & Harlem (5)_ 10* 130 130 130 2 1% N Y Investors <d)_ 2 1% 1% 1% 9% 6% NY NH & H <d)_ 12 7% 7 7% - % 26% 16% NY NH& H pf (d)„ 8 20% 19% 19%-% 6% 5 N Y Ontario & W.__ 4 6 4% 4% — % 15% 11% N Y Shipbuilding_ 3 11% 11% 11%-% 76% 64 NY Shipbldf? pf_ 10s 63 63 63 —1 102 95 N Y Steam pf (6) 40s 101% 101 101 272 248 Norf & Wst (b2%>_. 1 249% 249% 249% -6% 17% 12% North Am Aviation. 23 13% 13 13 — % 34% 25 North Am Co(b30c). 61 26% 26 26%+ % 36% 27V* Northern Pacific _ 37 32% 31% 31% — % 6% 3V* Norwalk Tire & R._ 2 5% 5% 5% - V* 22% 17% Ohio Oil <a60c) ... 58 21% 20% 20%—% 73 . 53% Oliver Farm Equip. 16 68% 66% 66% -2% 26% 18% Omnibus Corp vtc.. 1 19 19 19 — % 45% 35 Otis Elev (60c)_ 4 37% 37% 37%—% 24% 16% Otis Steel.. _ 13 19% 19V* 19-%+ % 97 75 Otis Stl cv pf (5%). 2 89 89 89 — % 75 66 Outlet Co (3)... 30s 66 66 66 19% Pacific Am Fish 1.20 4 19% 19 19%-% 40 25% Pacific Coast 1st pf. 20, 31% 31% 31%—% 27% 18 Pacific Coast 2d_ 10s 19 19 19 —2 32% 24 Pac Finance(tl.80)_ 1 26% 26% 26%+ % 38 30% Pac Gas&Eleo (2). 2 30% 30% 30% 53% 43% Pac Lighting (3)_ 1 46% 46% 46%+ % 44% 34% Pac Mills (b50c)_ 2 36% 36% 36% — % 29% 22% Pac West Oll(a65c). 2 26V* 25V* 26% — V* 12% 10% Packard Mot (bl5c) 84 10V* 10% 10% 4% 2% Panhandle P & R_ 4 3V* 3% 3% 102% 60 Panhandle P&R pf-. 70s 96 94V, 94% — Vi 28% 22% Paramount Pic_ 353 22% 21% 22%-% 200% 161 Paramnt 1st pf («)_ 1 154 154 154 -8 26% 20% Paramnt 2d pf 60c._ 24 20% 19% 20% - V* 34% 28% Park & Tllford (2).. 6 29 29 29 - V* 8V* 4% Park Utah_ 20 5% 5 5 - % 44% 38 Parke Davis (bl)_ 1 38% 38% 38% 7% 5% Parmelee Trans__ 2 5% 5% 5% — % 10% 7% Pathe Film Corp_ 10 8% 8 8 — % 23% 14% Patino Mlnes(t60c). 7 17V* 16% 16%-% 7% 3% Peerless Corp _ 6 6% 6% 6% — Vi 64 48% Penlck & Ford(t3)_. 2 43% 43% 43% -6 103% 97 Penney JC) (4)_ 10 98 97Vi 97%-% 6% 4% Penn Coal & Coke... 1 4% 4% 4% 12'* 7% Penn Dixie Cement. 1 8% 8% 8% — Vi 50V* 39% Penn Railroad <e2)_ 23 44% 44 44% — % 21% 17V* Petr Corp Am a'JOc.. 5 19 18% 19 13V* 10% Pfeiffer Brew b60c . 2 10% 10% 10% — % 6 32 4-32 PfeifT Br rts May 13. 9 2-32 2-32 2-32 69% 47% Phelps Dodge b35c_. 5 50% 50 50 — % 3% 1% Phila Read C&I (d). 3 1% 1% 1% 84V* 70 Philip Morris(b3%) 13 76 75 75% 20 13% Phillips Jones _ _. 1 14 14 14 — % 59V* 49% Phillips Petrol (2) 25 56 55% 55% -1 33% 28% Pilisbury Flour 1.60 2 29% 29 29 — V) 20 13% Pitts Screw&B bl5c. 2 16% 16V* 16V* — V, 43 24% Pitts Steel _ 1 34 34 34 8s, 3% Pitts United_ 2 6% 5% 5% — Vi 47% 31V* Pitts & W Va_ 60s 40% 39 39 -1 29% 24V* Plymouth Oil (tl).. 12 28% 28 28%-% 21% 18% Pond Creek Poo >2). 2 20 19% 19% + 33V, 24% Poor & Co (B) 4 25% 25 25 - % 11% 6% Porto R Am Tob A.. 4 7 7 7 + % 3% 2% Porto R Am Tob B.. 2 2% 2% 2% + V< 15% 10 Postal Tel&C pf(d). 10 10 9% 10 — % 31% 23% Pressed Steel Car .. 10 24% 24 24% — % 31 24 Press Stl 1st pf 25c. 1 24% 24% 24'* 86 66 Press Stl 2d pf 2 % .. 1 67% 67% 67% —Is, 65% 55% Proctor & Gam< 12)_ 4 62 61% 62 52** 42V* PubSvcN J (2.60)_. 4 42% 42', 42% + % 72V, 58 Pullman Ino (1%)__ 6 61 60% 61 — v, 24% 19% Pure Oil _ 54 21 20% 21 — % 112% 108 Pure Oil&% pf_130, 110% 110 110% + s, 23% 18% Purity Bak <60c)... 29 18% 18% 18% — v, 18% 16 Quaker State O b45e 2 17% 17% 17% — Vi 12s* 10 Radio Corp_ 104 10% 10 10 80 72Vi Radio pf A (3%)___ 1 72% 72% 72%-% 10% 7% Radlo-Keith-Or (d). 39 9 8% 9 37V* 31 Raybestos M (tl%) 1 32v* 32% 32% + Vj 47 39% Reading RR (2)_ 1 40 40 40 — V, 4% 21, Reis (Robt) . _ _ 1 3% 3% 3V» + V, 30 23 Reis (Robt) 1st pf.. 2 26 25 26 -1 29% 21% Rem-Rand (t60c)_ 9 24% 24 24% — '< 9% 5 Reo Motor Car_ 21 7% 7% 7% — v, 47% 27% Republic Steel_ 278 40% 39% 40% — V 124 109 Republic pf (bl V4) _ 2 123% 123 123 -1 110% 99 Republic pr pf A(6) 1 108% 108% 108% + v. 49% 33% Revere Copper_ 10 43% 42% 43 — s, 139 128% Revere Cop pf bl»*. 70, 136 136 136 -1 30% 24% Reynolds Met (tl).. 1 24% 24% 24% — M 68 50 Reynolds Tob B (3). 9 60% 50% 50%+ V 46 38% Safeway Stores(t2) 4 39 39 39 — V, 113 110 Safeway Strs pf(7) 130, 110s, 110% 110% - V 65 43% St Joseph Ld(b60c). 6 66 55% 56 4% 3 St L-San Fran (d)_. 2 3% 3% 3% — V 11% 6% St L-San Fr pf <d)„ 7 8% 8 8% - V, 20% 11 StLSouthwn (d)-- 80, 15% 15% 15% - * 61s* 42% Schenley Dist(b75e) 12 45 43% 43% —lVi 3V* 2 Schulte R Stra (d). 4 2% 2% 2% 45% 38 Scott Paper (1)_ 120, 40% 40 40 -V 2% 1% Seaboard Air L (d)_ 6 1% 1% 1% + v, 8% 6 Seaboard A L pf(d). 3 6% 6% 6% - V 64% 40% Seaboard Oil (1)_ 10 47 46% 47 -1 95% 81 Sears Roebuck (3).. 24 86% 85V* 85% -It. 34 28 Servel Inc (tl)_ 6 29 28% 29 — v. 42% 29 Sharon Stl (tl.20)._ 1 36% 36V, 36% - v 120 102 Sharon Stl pf (5)— 1 106% 106% 106%-IV 17% 14% Shattuck FG (60c). 6 14% 14% 14% - V 44 37% Sheaffer Pen(bl%). 30» 40% 40 40 - V 34% 26% Shell Un Oil (a25c). 11 30s, 30% 30% - V 105% 102 Shell Un Oil pf 6V4- 1 103% 103% 103% - V 17V, 12% Silver King (b25c).. 1 14% 14% 14% - V 68 44% Simmons Co (b50c). 19 60% 50 50% — Vi 4% 3% Simms Petrol- 1 3% 3% 3% 60% 42 Skelly Oil _ 3 56% 56% 56% - Ti 197 85% Sloss-Sheffleld Stl— 60, 170 165 165 -5 54% 37% Smith (AO)_ 1 42% 42% 42% +1V 29% 21% Snider Pkg (bl%)._ 3 23 22% 22% - <V 20v* 16>* Socony-Vac (b25c). 106 19% 19% 19% — V 6% 4% South Am G & P 30c 7 4% 4% 4% 42% 34 South Port Sug(t2). 3 37% 37 37 - V 32% 23% So Cal Edison tl%— 10 26 25% 25% - V 65% 42% Southern Pacific- 38 68 56% 57% — V Prey 1037 Stock and Bales— Net High. Low. Dividend Rat*. Add 00. High. Low. Close, chge. 43% 24 Southern Ry_ 39 38% 38% 38% - % 60% 47% Southern Ry pf_ 6 50% 50 50 —1 77% 68% Spalding let pf_ 60s 70 70 70 9% 6% Sparke-Wlthing_ 3 6% 6% 6% - % 31 28 Spear ft Co (*50c)_ 8 23% 22% 22%-1% 36 31% Spencer Kell <1.60): 1 33 33 33 23% 19 Sperry Corp Ttclal) 22 19% 19 19% — % 34% 28% Spicer Mfg <a3)_ 5 31% 30% 30%-% 28% 22% Spiegel, Inc (1)_ 11 24% 24% 24%-% 95% 94 Spiegel cum pf(4%) 90s 94% 93% 94V* + % 48% 40% Square D (B) b25c_. 2 39 38% 38% -1% 16% 14 Stand Brands(tSOc) 24 14% 14 14 - % 14% 8% Stand Gas & El (d). 8 9% 9% 9% - % 32% 24 Stand G&E $4 pf(d) 31 23% 22% 23%-1 72% 57% Stajid G&E 17 pf(d) 2 57% 57 67 -% 50 43% Stand Oil Calif (tl). 20 45% 44% 45 -V* 60 44% Stand Oil Ind < tl)_ 15 46 45% 45% - % j 32 31 Stand Oil Kan(al).. 2 30% 30% 30% — Vi 76 67% Stand Oil N J (tl).. 89 67% 66% 66% -1 75 65 Sterling Prod t3.80_ 1 68% 68% 68V, +1% 21 17% Stewart-Warn t50c. 10 19% 19% 19% + V* 33% 22% Stone & Web(a25c). 16 26 24% 25 — % 20 13% Studebaker Corp_ 29 16% 16% 16% — % 77% 68 Sun Oil (tl).. 2 69% 69% 69% -2% 61% 46 Superheater Co (1). 1 45 45 45 —3% 7% 4% Superior Oil_ 40 6 5% 6 47% 37 Superior Steel_ 1 38 38 38 -% 39% 32% Sutherland P tl.60.. 4 36% 86% 36'% - % 20% 13 Sweets Co of Am... 1 17% 17% 17% - % 28% 25% Swift & Co (tl.20).. 13 25% 25% 25%-% 33% 30% Swift InU Ltd (2).. 6 32% 32% 32%-% 23% 18V* Symington ww blOo. 6 19 19 19 — % 17% 14 Symington xw blOc. 4 14 14 14 — % 15% 11% Tenn Corp (al5c)_33 12% 12% 12% 65% 50V, Texas Corp (2)_ 138 61% 60% 61%-% 9% 7% Texas Gulf Pr a6c_ 43 8% 8 8 — % 44 38% Texas Gulf Sul (t2) 17 38 37V* 38 -% 64% 43% Texas* Pao R R_ 3 46 48 46 -3 16% 13% Tex Pac C&O blOc.. 31 15 14% 14% - % 15% 11% Texas P L T (alOc). 14 12V* 12% 12V* -% i 13% 10 Thermold Co _ 6 10% 10V* 10% - Vi j 10% 6 Thompson Starrett. 81 6% 5% 6 — v* j 40% 24 Thompson Star pf._ 6 23% 23 23V, — %' 21V, 18% Tide Wat As 011 80c 21 18’, 18% 18% — % i 28% 22 Timken Detroit tl.. 11 23% 23 23% 79 61% Timken Roller B(3) 2 61 61 61 - % | 17% 15V, Transamerlca t40c. 36 15% 15% 15% — ; 22% 16% Trans Wst Air a25c. 3 17 17 17 + % 27% 19% Transue* W(t60c). 1 19 19 19-1 11% 8% Trl-Contl (a50c) ... 3 9 8% 9 t- % 12 8% Truax-Traer(b25c). 2 10% 10% 10% — % 40% 33% 20th Cent Fox boOc. 18 38% 37% 38%-% 94 74 Twin CR T pf ali.. 60, 75 75 75 -1 26% 16% Twin Coach (bl5c)_ 5 20% 20% 20% + % 6% 3V, Ulen & Co- 4 3% 3% S', ■+■ % 100% 85% Und-Ell-Flsher (3). 1 85** 85% 85% -1 % 91% 63 Union Bag* P (2).. 1 83 83 83 -4 111 97 Union Carb (3.20)_. 10 97V* 96% 97Vi % % 28Vi 24% Union OiKCalif )1.20 17 25% 25 25 - Vi 148% 126% Union Pacific (6) ... 2 146V* 146 146 + 2 31% 26% Union Tnk Car 1.60. 2 27% 27Vi 27% — % 35% 27V* Utd Aircraft(aBOc). 31 28% 27% 28 - % 24% 17% Utd Air Lines a20c_. 11 18V* 18 18 - % 31% 23 Utd Am Bosch_ 2 23 23 23 30% 26V* Utd Biscuit (1.60).. 4 26 26 26 - Vi 117% 113% Utd Biscuit pf (7).. 20» 115% 115% 115% -1% 8% 6% Utd Corp (a20c)_ 26 5% 5% 5% + V, 46% 41% Utd Corp pf (3)_ 1 41% 41% 41% 16 13% Utd Drug (a75a)_ 4 13% 13% 13% - % 26% 18% Utd Dyewood (1)__ 2 25 24 24 — % 9% 6% Utd Elec Coal_ 2 6s* 6% 6% 1% % Unit El C rts May 14 37 % V* % 63 46% Utd Eng & Fy (t2)_. 2 64% 54% 54% — V* 86% 80% United Fruit (13)_ 4 84% 84 84% -t- % 17 13% Utd Gas Imp (1)_ 14 13% 13% 13%-t- % 16% 6% Utd Paperboard_ 14 14% 14% 14 ,— V, 20% 15 U S Distributing pf. 40, 14% 14 14 —1 24% 17 U K & For’n Secur._ 11 19% 18% 18%—% 100% 96 U S & For’n 1st (6).. 1 96 96 96 — V* 34% 23% U S Freight (tl)_ 2 23% 23% 23% — % 137 111 USGypsum(t2)_ 3 112 111% 111%—2% 23Vs 17 U S Hoffman _ 4 21% 21% 21"* + V* 70 53% U S HofTan pf(2%). 3 66V* 65% 65%-% 43% 37% U S Indus Alcohol.. 18 38% 38 38% + % 15% 6V» U S Leather vtc_ 3 10 10 10 — % 22% 13'/* U S Leather!A)vtc. 8 17% 17% 17% — % 72V* 59% U S Pipe & Fdry (3). 4 60% 60 60 —1 19% 13% U S Realty & Imp... 21 13% 12% 13 — % 72% 44V* US Rubber _ 26 62 61 61% -1% 118 92% U S Rubber 1st pf_ 13 99% 97% 97% —2 105 83% U S Smelting (b4)_. 3 90 89 89 —1 126% 75 US Steel . _ 168 110% 109% 110% — % 150 139% U S Steel pf (7)_ 3 144 143% 143% — % S'4 < vmtsiK nos due). 4 7*4 74 74—4 8v» 54 Utd Stores (A) ... 5 54 54 54 844 774 Utd Str pf al4.81%_ 1 79 79 79 -rl 44 24 Util Pw&Ut (A) (d). 7 24 24 24 24 14 Vadsco Sales Corp.. 13 14 14 14 394 284 Vanadium Corp _. 13 32 304 314 —14 444 394 Van Kaalte(b624c) 3 424 414 414 -1 464 424 Vick Chemical <t2>_ 2 434 434 434 124 74 Va-Car Chemical _. 11 94 94 94 744 544 Va-Car Chem 6% pf 3 63 614 614 -2*, 115 108 VaEl&Pw Df (6) . 10b 112 112 112 12*4 84 Va Iron Coal&Coke. 20s 94 9 9—4 37 264 Va Iron C & C pf ... 20s 27 27 27 98 70 Vulcan Detin (a8)_10s 83 4 834 834 — 4 104 34 Wabash (d;_ 3 74 7 7-4 184 9 Wabash pf (A)(d).. 6 134 134 134 —4 194 154 Waldorf Systtl.20). 6 154 154 164 - V* 33 29 Walgreen Co (2)_ 2 30 30 30 184 114 Walworth Co_ 23 154 154 154 - 4 10*4 64 Ward Baking (B)_ 117 7 7 18 134 Warner Bros Plct... 48 144 144 144 — Vi 14 4 Warner-Qulnlan(d) 9 4 4 4 124 64 Warren Bros (d) .. fi 10 94 94 + 4 46 354 Warren Fdy&Pttl) 17 39*4 39 39 -2 2V, 14 Wells Fargo_1. 500s 14 14 14— 4 56 46 Wesson O&S (t50c) 5 604 604 504 + 4 102 93 West Penn El A (7) 20s 944 94 94 —iv* 1004 90 West Penn El pf(6) 20s 93 924 924 - 4 109 103 West Penn El pf(7) 120s 1034 103 103 -1 114 84 Western Maryland. 1 94 94 94 234 174 Western Md 2d pf_ 1 174 174 174 — 4 44 24 Western Pacific_ 2 34 34 34 — 4 114 7vt Western Pacific pf.. 2 84 84 84 — 4 834 644 Westn Un Tel (3)... 23 64 624 64 -1 674 454 Westingh'se A B(l) 4 454 45 45 — 4 1674 1304 Westingh'se El (bl) 28 1374 136 1374 -2v, 170 1494 Westhse 1st pf (bl) 30s 151 150 150 -34 304 244 Weston El Inst b25c 1 254 254 254 — 4 344 304 Westvaco 5Vopf 14 2 304 30Vs 304 -4 65 38 Wheeling Steel_ 5 544 54 544 -14 334 234 White Motor_ 9 274 27 27 - 4 184 154 White Rk M SC1.40) 2 154 154 15*. - V, 64 54 White Sewing Mach 1 54 54 54 464 35 White Sew Mch pf.. 1 35 35 35 —4 6V4 44 Wilcox Oil & Gas... 9 54 5 54 12V, 84 Wilson & Co (50e)._ 25 94 9 4 94 —4 654 614 Woolworth (2.40)... 7 62 514 514 — 4 47 344 Worthington Pump. 2 384 374 374 — 4 1124 81 Worth Pump pf (A). 450s 108 105 105 —24 624 494 Yale&Towne(t60c). 1 504 504 604 -14 374 204 Yellow Tr & Coach. 82 304 30 304 -4 142 125 Yel Tr & C pf (bl 4 ) 40s 125 125 125 464 40 Young Spr&W(t3). 3 414 404 40-4 -4 1014 754 Ygstn S&T <b76c)_ 25 904 89 894 -1 404 31 Zenith Radio (bl)_ 14 354 35 354 - 4 94 64 Zonlte Products_ 7 64 64 64 Approximate Sales of Stocks on the N. V. Stock Exchange. , 11:00 P.M- 510,000 12:00 Noon 810.000 ! Dividend rates as given in the aoove table are the annual cash payments based on the latest Quarterly or half-yearly dee l iaratlons ! 1 s Unit of trading less than 100 share*, tAnnual rate— I not including extras. a Paid last year. b Paid thi* year. : d Companies reported In receivership or being reorxanlxed 1 x Ex dividend. DIVIDENDS ANNOUNCED NEW YORK April 24.—Dividends de clared. prepared by the Standard Statis tics Corp.: Extra. Pe- Stk. of Pay Rate. riod. record, able. Equi Tr Co. Wllm. Del 25c -- 4-24 5-1 Rerular. Chartered Inv $5 pf $1.25 Q 5-1 fl-1 Equi Tr Co. Wllm. Del 75c Q 4-24 5-1 Pall River Oas Wks 40c Q 4-27 5-1 Lawson Real 7% pf $1.75 Q 4-27 5-1 Mallory Hat 7*'c pf $1.75 Q 4-17 5-1 Peninsular Grind Wh 5c Q 4-24 5-15 Sherman Clay Co 7r'r a am pr pf $1.75 Q 4-15 Stamford Water $2 Q 5-5 5-15 Tyer Rubber 6^ pf $1.60 Q 5-10 5-lo -• FOREIGN EXCHANGES. NEW YORK. April 24 l/P).—Foregn ex change mixed: Great Britain in dollars, others in cents: ^ , Great Britain, demand, 4,93,'.: cables, 4.93,’,; RO-day bills. 4.91 li: France, de mand, 4.43%; cables, 4 43%: Italy, de mand. B.2dV cables. B.'-idV.. Demands—Belgium. 10.80: Germany, free. 40.21: registered. 19.80: travel. 23.05; Holland, 64.70: Norway. 24.78; Sweden, 25.43; Denmark. 22.02: Finland. 2.18: Switzerland, 22.874s: Spain un quoted: Portugal. 4.48'/»: Greece. .90: Po land. 19.00; Czechoslovakia. 3.48%: Yugo slavia. 2.34; Austria, 18.75n; Hungary. 19.80; Rumania, .75; Argentina 32.8, n: Brazil. 8.80V4n: Toklo. 28.75: Shanghai. 29.93; Hongkong. 30.09; Mexico City. 27.86: Montreal In New York. 100.18%; New York in Montreal. 99.814«. n—Nominal. CHICAGO PRODUCE. CHICAGO. April 24 UP).—Poultry, live, 6 trucks, quiet; prices unchanged. Butter, 8.067. firm, prices unchanged. Eggs 35.555. unsettled; extra firsts, loca . 21V cars. 22; fresh graded firsts, local. 21: cars. 21 Vi: current receipts. 20: storage packed extras. 22V storage packed firsts. 22 V , „ _ Potatoes. 48. on track 137. total JJ 8. shipments. 604: old stock, supplies light, for Idaho russets, demand good, market firm, other stocks demand slow, market dull: sacked per hundredweight. Idaho russets Burbanks. V S. No. 1. 2.60a(10: U. S. No. 2. 2.30a35: Wisconsin round whites. U. S. No. 1. car. 1.90. New stock, supplies light demand good, market slightly stronger. Texas Bliss Triumphs. U. S. No. 1. 3.75a4.10. mostly around 3. ,5: U. 8. No. 2. 2.35a76. SELBY DIVIDEND CUT. PORTSMOUTH, Ohio, April 24 OP). —Citing flood losses and higher ma terial and labor costs, the Selby 8hoe Co. directors reduced the quarterly dividend from 60 to 40 cents. FOREIGN MARKETS. 4 LIVERPOOL, April 24 iJP).—'Wheat fu tures closed quiet today, up id to Had. The market's firmness followed sharp ad vances at Buenos Aires yesterday, stronger Argentine and Canadian c.i.f. offerings and continental buying of nearby positions. Cotton closed quiet and steady. 3 to 4 points higher. Most traders were await ing fresh incentives and the market was sensitive to small orders. Selling in sym pathy with a reaction in Egyptian cotton was followed by a recovery on scattered buying. Offerings were light. A good busi ness waa done in Brazilian cotton. London and Paris closed. U. S. TREASURY NOTES. (Reported by Chat D. Barney & Co ) Rate. Maturity. Bid. Offer. 3'. Sept. 15. '37-_. 101 0-32 101 8-32 2-la Feb 1. '38 101 18-32 101 20-32 3 Mar. 15. '.38... 102 7-32 102 9-32 27a June 15. '38— 102 13-32 102 15-32 27j Sept. 15. '38_._ 102 7-32 102 9-32 112 Mar. 15. '39_ 100 20-32 100 22-32 2‘a June 15, '39 — 101 25-32 101 27-32 14* Dec, 15. '39.— 100 7-32 100 9-32 l4a Mar. 1ft. '40.100 13-32 100 15-32 112 June 15. '40... 99 31-32 100 1-32 1 Va Dec. 15. '40_ 99 27-32 99 29-32 l‘/2 Mar. 15, '41... 99 19-32 99 21-32 l4* June 15. *41.._ 99 1-32 99 3-32 1(4 Dec. 15. ’41... 98 9-32 98 12-32 DOLLAR GOES HIGHER IN LONDON DEALINGS By the Associated Press. LONDON, April 24.—Making t further recovery of Vi cent, the Unitec States dollar was quoted at 4.93 to the pound at the end of foreign exchange dealings today, closing New York quotation yesterday was $4.93 Vg. An improvement was registered bj the French franc, which closed at 111.06 to the pound compared with 111.22 yesterday. FEDERAL LAND BANKS NEW YORK, Aoril 24 oPi.—Federal Land Bank bonds: Bid Asked. 4Vis Nov., 1958-38_ 103'j 104 41 ss May. 1957-37_ 1011 j 102 4s May. 1958-38_1025s 10.3'a 4s Nov., 1957-37_ 1013, ini'1, 4s July, 1940-44_107'< 107V., 3Vis May. 1955-45_1003, 101 3s July, 1955-45_ 995, 99’a 3s Jan.. 1950-40_ 99>« 99’i 3s May. 1958-46_ 99». 99Vt First Mortgage Loans District of Columbia, Nearby Maryland and Virginia Homes Business Apartments Properties Terms from 3 to 15 years Also Monthly Payment Loans Randall. H.Hagner & Company INCORPORATED Mortgage Loan Coime swiNDcnr 1321 Connecticut Ave. N.W. Telephone: DEcatur 3600 SOME OF LOSSES Mild Support Reduces De clines of Fractions to $3 or More. Stock Averages 30 15 15 60 Indus Ralls. Util 8tks. Net change. —.8 —.2 —.3 —.6 Today, close 93.0 45.5 *44 8 69.0 Prev. day.. 93 8 45 7 45.1 69.6 Month ago. 96.6 46.4 47.1 71.6 Year ago... 81 4 34.1 46 7 60 9 1937 high.. 101 6 49.5 54.0 75.3 1937 low... 92.8 37.8 45.1 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 •New low. (Complied by the Associated Press.) BY VICTOR EUBANK Associated Press Financial Writer. NEW YORK. April 24.—Stock mar ket prices crumbled in an early selling rush today, but met mild support be j fore the close. I At the worst numerous leaders were : off 1 to more than 3 points, some at | new lows for the year or longer. Ex ] treme declines were pared in many in | stances in the final hour. I Slipping tendencies w'ere in evidence I at the opening, but dealings were I rather slow. A flood of offerings ap peared later and for a brief interval the ticker tape was behind. Activity dwindled quickly as the list was given a moderate lift from bottom levels. No help was accorded the stock division by bonds or commodities, most of which were uneven Among principal losers were Bethle hem, Youngstown Sheet & Tube, Crucible Steel, Republic. National Steel, United States Rubber, Mont gomery Ward, Sears-Roebuck. Mar shall Field, Macy, American Tobacco "B.” Oliver Farm, Boeing, Howe i Sound, National Lead, American j Smelting. Homestake Mining, Cerro de Pasco. Texas Corp . Continental Oil, Westinghouse, General Electric, Du Pont, Phillips Petroleum. Schen iey. Standard Oil of Indiana. Santa Fe, Delaware & Hudson. Southern Pacific, Loewis, Foster-W'heeler, Con tainer Corp.. Industrial Rayon. Na tional Cash Register. National Supply and Johns-Mansville. Touching bottom for 1937 were I American Telephone. Western Union, j American Can, Continental Can, Para j mount, National Biscuit, Borden and A. M. Byers. In a resistant area were United States Steel, Chrysler, Douglas Air craft, International Harvester, Good rich, Chesapeake & Ohio, Southern Railway, Illinois Central. Northern Pacific, Consolidated Edison. North American. Eaton Manufacturing and i Public Service of N. J. METAL MARKET. NEW YORK April -.4 —Copper steady; electrolytic spo- and luture 1 14.50 export. 14.«5 Tin steady spot | ana nearby. 57.no: future 50 75. Other metals nominally unchanged INVESTOR Can show you ‘‘6% net return an $18,300 equity in 13-unit apartment house, just off 16th Street. Statement on request. Call, write, or see Stanton T. Kolb J. LEO KOLB, INC. 1237 Wisconsin Ave. West 0002 Second Trust Notes We will buy monthly payment deferred purchase money second trust notes, secured on owner-occupied dwellings in D C. and nearby Wd «s» Va Union Finance Co. eifl Woodward Bldg NAtl 7036 J}% INTEREST CONSTRUCTION LOANS AND STRAIGHT 3-yr. LOANS Prompt Action on Applications Real Estate Mortgage & Guaranty Corporation 1610 K St. N.W. NAtl. 1403 FIRST MORTGAGE FUNDS Lowest Interest Rates Construction Loans 3 to 5 Years Straight Loans Long Term Amortized Loans • Consult Us We have saved money for others in solving their mortgage problems. E. Quincy Smith, Inc. Arthur C. Houghton, President Mortgage Loan Correspondent THE PENN MUTUAL LIFE INSURANCE CO. 909 15th St. N.W. DI. 9057 \ Amortized j > LOANS 1 ^ ^ ^ for buying, building A s. or refinancing loans ' f on your home, made A ^ under Federal Hous- > y ing Act, Title 2. A w This Bank Has Mad* / \ Over $2,000,000.00 of ^ r These Loans > * SECURITY® SaouTt^ & Commercio I 8 BANK n Two Convenient Branches: l 9th & G . 1518 K P Sts. N.W. St. N.W. S % Member Fe/leral Deposit g jf Insurance Corporation