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BANK DELEGATES Safe Deposit Leaders Hear Address of Welcome by Townsend. BY EDWARD C. STONE. Capt. Patrick J. Townsend, Assistant Engineer Commissioner of the Dis trict, gave the address of welcome to more than 300 delegates attending the convention of the National Safe De posit Association, at the Willard Hotel this morning. It was the first general session of the three-day meeting. Com missioner Melvin C. Hazen, scheduled to speak, was detained at his office. Rev. James Shera Montgomery, chaplain of the United States Senate, offered prayer and special greetings were presented by Richard E. Harris, general convention chairman. The day's program covered many problems vital to all banks, the registered dele gates from out of town being the largest who have ever attended one of these conclaves. Yesterday's session was given over to an important meeting of the Ad visory Council, with P. Travis Coxe, Philadelphia, president, in the chair. President Coxe was re-elected to serve as head of the council next year. Ralph D. Slaymaker, Kansas City, vice president, and Kenneth W. Mur ray, New Haven, secretary and treasurer, were also re-elected. Im portant reports were presented, and the Richmond Safe Deposit Associa tion was admitted to membership in the council. Council Members Elected. Four members of the Executive Committee of the National Council were re-elected: F. F. Wadsworth, Boston; Carroll Brown, Minneapolis; Gardner Turrill, Los Angeles, and Carl W. Johnson, Kenofha. Wis. Two new members were also elected; John W. Williams, Chicago, and Richard E. Harris of Washington. At the forenoon session today, Chairman Coxe conducted a sym posium on the real work and aims of the association. Stephen F. Wads worth, Boston, spoke on "What Is the Association and What Are the Objectives of a State Association?” The next speaker was Marten L. Jen sen, Chase Safe Depasit Co., New York, who discussed "Organization.” Andrew H. Troeger, Safe Deposit & Trust Co., Baltimore, spoke on "Per sonnel.” and George J. Keevil, West field Trust Co., New Jersey, had as his topic "The Challenge to Associa tion Existence.” The bankers planned to forget bus iness this afternoon and tour the Department of Justice. An unusually interesting program has been pro vided for tomorrow. Capital Bankers Active. The members of the safe deposit section of the District Bankers’ As sociation are playing a very impor tant part in the convention activities. In addition to General Chairman Harris and Vice Chairman Earle M. Amick, other committee chairmen in clude: Hans W. Ireland, program: John F. Hillyard, finance; Charles K. West, reception; Harry P. White, hotels; Miss Eva Ricker, publicity; Thomas 3S. Elgin, entertainment; Mrs. Helen R. Sharpe, Ladies’ Committee; An drew R. Walden, registration; Albert E. Fisher, information, and E. Percival Wilson, transportation. A wide variety of exhibits pertain ing to the safe deposit business in banks is on display in the Willard lobby, all attracting general atten tion. They cover everything from the latest in burglar alarms to the newest types of safe deposit boxes. Crippen Assumes New Duties. Lloyd K. Crippen. an actuary with the Acacia Mutual Life Insurance Co., who has just been elected a vice presi dent, has been connected with the in stltution for the ., past 16 years. He is a graduate of ::: the University of 5; M i c h i gan and holds member ships in both the American Insti tute of Actuaries and the Actuarial Society of Amer- f lea. His promo- | lion was voted at | the annual meet- I ing and he has I already assumed I his a dditional ■ duties. Other Lloyd K. Crippen. officers in Acacia were re-elected at the same meeting. Teoples Drug Sales Climb. Peoples Drug Stores sales in April totaled $1,808,358, in comparison with 81,646.523 in April, 1936, an increase of $160,835, or 9.7 per cent, the head office reported here today. Sales for the first four months of the present year amounted to $7,240,739, against $6,504,952 in 1936, an increase of $735,787 or 11.3 per cent. Sales in March showed an increase of 16.9 per cent over March. 1936, the report adds. The Washington Clearing House As sociation reports total clearings of $29,120,306.32 for the week ended May 5, compared with $24,580,648.79 for the corresponding period last year, an increase of 18.4 per cent. Com pared with a total of $22,355,675.87 for the previous week, clearings here in creased 30.2 per cent. Chauncey G. Parker, jr., partner in Auchincloss, Parker & Redpath and retiring president of the Washington Ticker Club, will tender a dinner to the members and their guests at the Chevy Chase Club this evening. This has been an annual event ever since the club was organized. Heard in financial District. John A. Purcell has become asso ciated with the Washington office of MacKubin, Legg & Co., in the Wood ward Building, it was announced today. The Richmond Reserve Bank has notified member banks that the Treas ury is inviting tenders for two series of Treasury bills, aggregating $100, 000,000. Aggregate dividends paid by national banks during 1936 amounted to 8.58 per cent of outstanding capital stock, compared with 6.66 per cent for 1935, Controller of the Currency J. F. T. O’Connor said in a speech before the Indiana Bankers’ Association. Today's Trading on Exchange. American Security & Trust Co. stock sold at 295 on the Washington Stock Exchange today. Capital Traction 5s came out at 91 Vi and closed at 9Hi. The newly listed stocks, Lincoln Service common and preferred, were awaiting first sales today. The com' mon pays $1 a year and the preferred $3.50. Today's bid on the common stood at 15, with 50 bid and 53 asked lor the preferred. Recent earnings re ports have been good. Pacific Can Co.—Common share earnings, 12 months ended March 31, were (1.13, against (1.50. I TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE By Private Wire Direct to The Star. All New York markets are now on daylight aarlnr time. Prev. 1037 Stock and Sales— Net High Low Dividend Rate. Add 00. High. Low, Close, chge. 844 63% Acme Steel (4)_ 1 80 80 80 + V* 22% 15 Adams Exp (a55c)_. 14 18Vi 18 18 + Vi 36 304 Addressog'ph b60c — 1 32% 32% 32%+ Vi 804 684 Air Reduction (tl). 13 76 74% 75 -1 54 2% Air-Way Electric... 6 34 84 34 —4 15% 11% Alaska Jun < t60c).. 6 124 12% 12% — 4 5% 3% Alleghany Corp__ 45 44 4 4 59% 434 Alleg pf ww *30_ 3 50 60 50 +1 584 43 Alleghany pf xw- 1 494 494 494 — % 524 40 Alleg Corp pr pf- 4 424 42 424 +1 45% 354 Alleg Steel (b80c)._ 2 374 36% 36% 2584 224 Allied Chem (6)_ 3 230 229 230 42 334 244 Allied Mills (b2)_ 6 27% 274 274 + 4 214 16% Allied Stores (b20c) 14 174 17 17 + V* 834 60 Allis-Chalm (b50e)_ 17 64 634 63% + V, 84 44 Amal Leather _ ... 10 64 5% 64 + 4 52V* 3414 Amal Leath pf (3).. 1 394 394 394 — V* 1144 95 Amerada Corp (2)._ 1 100 100 100 +1% 1014 83 Am Ag Chm Del bl. 4 914 91 914 +2 41% 254 Am Bank Note (tl). 1 25% 25% 25%+ 4 80% 57V* Am Brake Sh (t2) . 4 624 62 62 — 4 160 125 Am Brake Sh pf 5Vi. 10a 130% 130% 130% 121 97>* Am Can <t4) .. 9 101% 1011* 1014 + 4 71 51V* Am Car & Foundry.. 6 67 56 57 994 72 Am Chain & Ca bl_ 2 92 914 914 -1 1034 98 Am Chicle <t4)_ 2 1024 102 1024+24 235, 13% Am Colortype_ 2 19 18% 18% 33s, 254 Am Crystal Sug b2_. 3 27% 27V* 27% + Vi 134 84 Am Encaustic __ 1 94 94 94 — 4 13% 74 Am & Foreign Pwr. 8 9 8% 8% 684 51'* Am & For Pw *7 pf. 2 64 54 64 +1 38V* 20v* Am & For Pw 2d pf. 3 24 23% 23% + % 21 164 Am Hawaiian (1) .. 1 I84 184 18V* + Vi 1H* 64 Am Hide & Leather. 5 84 84 84 + V* 55% 374 Am Hide & L pf (3). 1 43 43 43 +1 4% 24 Am Ice 3 34 34 34 + % 17a* 13% Am Interntl (a40c)_ 2 144 144 144 — % 58V, 43 Am Locomotive_ 5 49V, 48% 49 +1 125 108 Am Loco pf <a3)_ 1 108 108 108 29% 214 Am Mach & F (tl).. 11 23 224 23 +1 13% 9 Am Mach & Met 60c. 1 9% 9% 9% — V, 68% 464 Am Metals (b25c)._ 4 62V* 524 524 16V* 94 Am Power & Light-. 9 104 10 104 — 4 724 514 Am Pw & Lt pf (6).. 1 57 57 57 + 4 87V, 59V* Am Pw & Lt pf (6).. 2 66 66 66 29V* 21 Am Radiator t60c _ 26 224 22 224 + 4 170 153 Am Radiator pf (7). 30a 156 156 156 454 334 Am Roll Mill tl.20.. 32 364 36 36 36 28 Am Safty Ra* (12)_ 3 304 294 294 —% 29 224 Am Seating (a2%). 2 244 244 244 + V* 58 41 Am Shlpbldg (2)_ 790a 504 49% 50V* + V* 105% 81 Vi Am Smelt & Ref (3). 25 874 86V* 86a* + 4 1074 105 Am Sm & Ref pf(6) 1 105 27 32 105 27 32 105 27 32 734 514 Am Steel Fdry (bl). 38 55 544 544 + v; 34 2Vi Am Stl F rts May 15 107 3 24 3 + V* 264 20 Am Stores (2) 1 224 224 224 + 4 1434 130 Am Sugar pf (7)- 1 1294 1294 1294 - V, 254 214 Am Sum Tob (tl)_ 1 224 224 224 187 1604 Am Tel & Tel (9)._. 10 169 167 167 —14 99 78 Am Tobacco (5)_x 5 79 79 79 — Vi 994 804 Am Tobacco B (6).. x 10 814 81 814 + 4 204 134 Am Type Founders. 8 144 14 144 + 4 294 184 Am Water W (80c)_ 11 204 204 204 — vi 79 624 Am Woolen pf (bl). 4 644 64 64 20 64 Am Zinc & Lead _. 8 134 134 134+ 4 694 484 Anaconda Cop (tl) 61 534 524 524 - 4 97 79 Anaconda Wire bl 4 1 84 84 84 254 IS Anchor Cap (60c).. 4 214 204 204 — 4 374 28 Andes Copper_ 1 24 24 24 4 1 46 40 Archer-Dan-M(t2) _ 1 424 424 424 -r 4 134 7 Armour of Ul(b35c) 23 114 114 114- 4 704 594 Armstrong Cork(2) x 8 64 624 634 174 104 Artloom Corp_ 1 12 12 12 — 4 244 154 Assoc Dry Goods ... 10 174 174 174 + 4 94 694 Atch T A S Fe(a2)_. 69 944 934 934 — 4 104 974 Atch T & S F pf(6)_ 4 99 99 99 554 444 Atl Coast Llne(al). 36 51 494 504 +14 37 29s* Atl Refining (tl)_ 20 304 304 304 — 4 184 16't, Atlas Corp (80c)_ 6 164 I64 164 133 1134 Atlas Pwdr pf (5)._ 40s 116 116 116 +2v, 94 6Vi Austin Nichols_ 1 64 64 64 — 4 94 64 Aviation Corp Del.. 9 7 64 7 + 4 114 64 Baldwin Loco (d)_ 22 74 74 74 — 4 94 54 Baldwin asd (d)_ 19 64 64 64 + 4 404 204 Baltimore & Ohio... 71 354 344 344 474 334 Baltimore & Oh pf.. 5 404 394 40 + 4 434 31 Barber Co (b25c)_ 3 33 324 324 —4 32 254 Barker Bros_ 1 27 27 27 —4 354 264 Barnsdall (1)_ 12 28 274 274 — Vs 204 15 Bayuk Cigar t76c_ 1 154 154 154 — 4 284 234 Beatrice Cream tl-. 1 244 244 244 154 12 Belding Hemin (1) 2 124 124 124 + 4 87 84 Belgian NR pf(3.24) 1 864 864 864 + 4 304 204 Bendix Aviat'n b50c 16 214 2D, 214— 4 234 204 Benef Ind Ln (b95c) 6 21 204 21 + Vi 1054 73 Bethlehem SteeHbl. 46 874 864 874 + 4 20 184 Beth&% pf (1) _ 5 184 184 184 + 4 1294 117 Bethlehem pf (7)_ 1 1174 1174 1174 38 28 Black & Deck b50e_. 2 314 314 314 + 4 294 22 Blaw Knox (b20c>.. 6 254 25 25 944 87 Blumenthal pf (a21) 20s 87 87 87 494 334 Boeing Airplane ... 6 38 374 374 — 4 464 414 Bon Ami (B) (24)— 20s 454 454 454 + Vi 28 244 Borden Co (1.60)_ 16 254 254 254 — 4 434 384 Borg-Warner_ 28 414 414 414 + 4 154 84 Boston & Maine 5 124 124 124 + 4 234 15 Bridgept Brss(60c_. 45 164 164 164 — 4 594 45 Briggs Mfg (t2)_ 8 46 454 454 534 434 Briggs & Strat (3).. 1 474 474 474 47 41 Bristol-Myrs t2.40.. 1 424 424 424 + 4 53 324 Bklyn-Man Tr (4).. 36 334 314 314 -2 1024 864 Bklyn-Man T pf (6). 2 83 82 82 -54 8 4 Bklyn & Queens_ 3 44 44 44 — 4 384 224 Bkn & Q T pf (3) .. 2 24 234 24 -r 4 524 324 Bklyn L'n Gas(l.60) 2 344 34 344 — 4 244 18 Brunswick-Balke.. 3 184 184 184 — V. 25Vi 164 Bucyrus-Erie _ 8 184 184 184 + 4 1174 108 Bucvrus-E pf (7)... 10s 1074 1074 1074 — 4 144 9 Budd (EG) Mfg_ 13 10. 94 94 — 4 13 8 Budd Wheel (a20c)„ 6 94 94 94 + 4 454 314 Bullard (b25c) _ 6 344 334 334 654 504 Bulova Watch <t4)_ 2 554 554 554 + 4 354 264 Burr Add M (80c).9 274 27 27 — 4 184 134 Butler Bros (60c)_ 3 15v„ 15 15 364 294 Butler pf (1%) _ 1 304 304 304 94 44 Butte Cop & Z(a5c). 1 54 54 54 334 224 Byers (AM) _ 4 244 234 244 + 4 91 72 Byers (A M) pf_ 20s 74 74 74 344 27 Brron Jackson (tl). 2 304 30 304 + 4 48V* i, Calif Packing (1%). 7 41 40% 40% — % 6% 2% Callahan Zinc-Lead 11 4 3% 3% — % 20% 12 Calumet&Hecla (1). 16 14% 14 14 37% 27% Campbell Wy (tl).. 7 28% 27% 28% + 1% 38V* 25% Canada Dry G Ale_ 6 29 28% 28% — % 61 57 Canada South (3).10* 55 55 55 —2 17% 12% Canadian Pacific_ 68 14% 13% 13% 9% 7 Carriers & Gen(bSc) 2 8% 8% 8% — % 176% 138 Case(J I)Co (4)- 14 170% 167% 170% -r3% 100 85% Caterpillar Tr (t2)_ 11 91% 90 91% 40 26% Celanese (b75c)_ 162 40% 40% 40V* + % 48% 36% Celotex Corp_ 4 41% 41% 41% — % 82% 74% Celotex Corp pf (6)_. 40* 77% 76 77% +1% 12% 7% Central Foundry_ 2 8% 8% 8% -r % 41% 28 Central R R of N J.. 1 29 29 29 —1 86% 62% Cerro de Pasco (4)_. 11 66% 66 66 23% 16V* Certain-teed Prd_ 5 17% 16% 16% — % 82 67% Certain-teed pf (6). 70* 70% 70% 70% 60% 35% Champion Pap (tl). 4 57% 55% 57V* +2% 111 108 Champion P pf (6).. 10s 109% 109V* 109% + V* 90% 78% Chesapeake Crp(3). 7 86 82 82 —3 68% 56% Ches & Ohio t2.80... 61 58% 58% 58% 100 91 Ches&Ohpf A (4). 1 95 95 95 13% 6% Chi & Est 111 pf (d)_ 4 10% 10% 10% 4 2% Chi Grt West (d)_ 3 3 2% 3 + % 18% 12 Chi Grt West pf (d) 8 14% 14 14 11% 8 Chi Ind&Lpf (d)— 30* 8% 8% 8% + % 3% 2 Cht Mil St P&P (d). 5 2% 2% 2% 7% 4% Chi M St P&P pf (d). 12 5% 5% 5% + % 6% 3% Chi & N W (d)_ 5 5 5 5 +% 19% 11% Chi&N W pf (d)_ 3 16 15% 15%+% 33 21 Chi Pneumatic Tool 35 29 27% 27% — % 70% 58% Chi Pn T pf b87 %C— 9 64% 63% 63%+ % 3% 2% Chi R 1 & Pao (d) .. 1 2% 2% 2% 8% 5% Chi RI&P 6% pf (d). 2 7 7 7 +% 10% 6% Chi RI&P 7 % pf(d). 2 8 8 8 +% 27% 19% Chi Yellow Cab (2). 1 19% 19% 19% — Vi 15% 12% Childs Co 5 13V* 13 13%+ % 135% 109% Chrysler Corp b3%_ 46 117 115% 115% — V* 21% 18% City Ice & Fuel (2). 12 19% 19 19vs - % 92 83% City Ice & F pf 6%. 250* 86 85% 86 +% 70 60 City Investing (2)10* 62 62 62 —3 10% 7 City Stores _ 1 7% 7% 7% + % 38% 32% Clark Equlp(tl.60). 30 39% 36% 39% +2% 113 105 Clev El Illu pf 4% - 20* 107 107 107 -% 98% 78 Cluett Peabody (3). 4 90 87% 90 +2 170% 122% Coca-Cola (t2) .. 1 161 161 161 —1 25% 19% Colgate-P-P(t50c). 14 21% 21% 21% 104% 102% Colgate-F-P pf (6). 1 102% 102% 102% 62% 51% Collins & Aik <t2>__ 4 56% 56% 56%—% 112% 108% Collins & Aik pf (6). 10* 110% 110% 110% —1 51% 36 Col Fuel & Iron(bl) 7 38 37% 37% — % 27% 20% Colo & Southern ... 20* 21% 21% 21%+ V* 20% 12% Columb G & E)(40c) 27 13% 13% 131^—14 108 93% Col G & E pf A (6) .. 1 95 95 95 39% 31 Columb Pio vtc (tl) 9 34% 34% 34%+ % 69% 56% Cornel Credit (t4).. 19 64% 63% 64% +1% 80V* 63% Cornel Inv T (t4)._. 5 68 67% 67%+ % 120 104 Cornel Inv T pf 4%_ 2 108 107% 108 +1% 21% 14% Cornel Solv (t60c).. 4 16 15% 15% — % 4% 2% Comw & Southern.. 42 2% 2% 2% + % 75% 50 Comw & Sou pf(3)_. 2 64% 54% 54%+ % 19% 13% Conde Nast Pub ... 2 16% 16% 16% — % 45% 36% Congoleum-Nrn(2)_ 3 39% 39% 39% 18% 12% Consol Cigar . ... 4 13% 13% 13%+ % 95 83% Con C pr pf ww 6%. 10* 90 90 90 +1 49% 37 Cons Edls N Y(t2)_. 31 39 38% 38% — % 108 104 Cons Ed N Y pf(6)_ 2 104% 104% 104% — % 5% 3% Cons Film - 1 3% 3% 3% + % 18% 13 Cons Film pf (a2)._ 1 13% 13% 13%+ % 13% 9% Cons Laundries- 2 10% 10% 10% + % 17% 15 Cons Oil (80c) 44 15% 15% 15% — % 10% 6% Cons R R Cuba pf—. 1 6% 6% 6% 1% % Cons Textile (d)_12 1 % % 13% 8% Cons Coal (Del) vtc. 3 12 11% ]i%— % 52% 33 Cons Coal Del vtc pf 60* 48 48 48 —1 37% 20% Container Corp 1.20- 14 35% 35% 35%—% 37% 23 Conti Baking (A)_ 1 25% 25% 25% + % 5% 2% Conti Baking (B)._ 9 3% 3% 3% 69% 50% Conti Can (3) 9 56% 55 55 -1% 25% 20 Conti Diamond <2)_ 3 20% 20% 20% — % 42% 36 Conti lnsur (tl.60). 6 36% 36 36% — V* 3% 2% Conti Motors ___ 8 2% 2% 2% — % 47% 40V* Conti Oil Del (tl)_ 19 44% 43% 44 + % 77 62% Com Ex Bank (3)— 80* 66 66 66 -V* 71V* 56% Com Prod Ref<t3)_ 11 57% 57 67 — % 171% 153 Com Prod R pf (7). 1 164% 164% 164% -1 10% 6 Coty Inc- 18 8% 7% 7% - % 66% 46 Crane Co_ 4 48% 48 48%+% 121 113% Crane Co pf (7)_ 1115 115 116 + lle k Prev. 1937 Stock and Bales— Net High. Low. Dividend Rate. Add 00. High. Low. Close, ehge. 37 29% Cream of Wheat(2). 1 31% 31% 31%+% 100% 70% Crown Cork &S(2). 7 76% 76 76 —1 56V* 47% Cm C&S pf ww 214. 1 48 48 48 + % 47% 41 CrnC&Spf xw214_. 4 41% 41% 41% 26% 17 Crown Zeller(new). 10 21 20% 20%-% 108% 99 Crown Zell cu pf(6). 3 104 103% 103% — % 81% 51 Crucible Steel .. 2 66% 66V* 66%+ %| 135 120 Crucible Stl pfbl-%. 1116 116 116 -7 3 1% Cuba Co _ 2 1% 1% 1% - % 14% 9% Cuban-Am Sugar_ 4 10 9% 10 43 38% Cudahy Pkg (2%).. 1 39 39 39 + % 20% 14% Curtis Publishing.. 1 14% 14% 14% + Vi 109% 92V* Curtis Pub pf (7)_ 1 93% 93% 93% 8% 6% Curtiss-Wright .... 84 6 6 6 23% 18% Curtlss-W (A)a50c. 10 19 18% 18%-% 24 19 Davega cum pf 1%. 1 19 19 19 109 100 Dayton P&L pf 4%. 60s 103% 102% 103% + % 137% 104% Deere & Co _ 10 134 132% 132% — % 31% 29 Deere & Co pf 1.40.. 1 29% 29% 29% 29 20 Deisel-Wem-G(tl). 4 21% 21 21 + % 58% 42% Delaware & Hudson 23 47% 46% 47%+% 24% 17% Del Lack & West __ 63 20% 20 20 — % 10% 6% Den & RG W pf(d). 13 7% 7% 7% + % 13 9% Det & Mackinac ... 310s 15V* 13% 14% +1% 26 20% Det & Mackinac pf . 120* 28V* 28 28 8 2% 36% 301* Diamond Match (tl 5 33% 32% 33%+% 23 18% Diamond T Mot b25o 1 18% 18% 18% - V* 29 20% Distil Corp Seag ... 8 22% 22% 22% 25 20% Dixie Vortex(lVi) - 1 22 22 22 51 38% Dome Mines «+2)_ 9 40% 40% 40V* — % 12% 10 Dominion Stores_ 2 11 10% 10% 77% 49% Douglas Aircraft_ 10 54% 64 54 + % 1% % Duluth S S & Atl 1 % % % - % 180% 148V* Du Pont (b75c)_ 3 157 156% 157 +1 115V* 112 Duquesne 1st (5)_ 60s 115 114% 114%+% 17 11% Eastern Roll Mills.. 3 12% 12% 12%-% 175% 151 Eastman Kodak(6). 1 158 158 158 +1% 163 150 Eastman Kod pf (6). 10s 152 152 152 37Vi 31% Eaton Mfg (2)_ 7 35% 35% 35% 16 11% Eitington-Schild ._ 9 12% 12% 12% 29 21% El Paso Nat G 1.60.. 11 25 24% 25 45% 34% Eleo Auto Lt t2.40.. 8 38% 38 38% + % 16 10% Elec Boat (a60c) ... 8 11% 10% 10% 7% 4% Elec&Mus 1 (al8c)_ 4 5% 5% 5% 26% 17% Eleo Pow & Light .. 29 20% 19% 19%-% 87 66 Elec Pw & Lt J6 pf.. 3 69 67 67 -2 92% 69 Elec'Pw & Lt $7 pf.. 2 75 75 75 44% 39 Eleo Storage Bat (2) 2 39% 39% 39%-% 2 1% Elk Horn Coal <d)__ 8 1% 1% 1% 8 4% Elk Horn Cl pf (d).. 3 4% 4% 4% 17% 10 Eng Public Serv ... 1 10% 10% 10% — % 9% 6% Equitable Office B_ 1 6% 6% 6% 23% 13% Erie RR.. _ 62 20% 20 20%+ % 35% 24 Erie RR 1st pf_ 7 29% 29 29 + % 28V* 21 Erie R R 2d pf_ 6 23% 23% 23%+ % 34V* 26% Evans Prod (til_ 2 27V* 27 27 6% 4% Exchange Buffet_ 1 4% 4% 4% — % 5% HVi Fairbanks Co_ 300a 34 34 34 — 4 28 204 Fairbanks Co pf_ 30a 23% 234 234+% 714 51 Falrb’ks-Morse (tl) 3 54 534 534 +4 29% 194 Federal Lt & Trac1 19** 19*, 194 — 4 150 664 Fed Min & Smelter.. 1 114 114 114 +4 11% 7 Federal MotorMUc). 18 8 8 114 54 Fed Screw Works... 1 74 74 74 + 4 43*. 34 Fed'd Dept Str<2) _ 1 36 36 36 1084 97 Fed’ted Dep S pf 4 >4 1 994 994 994 + 4 454 374 Fidel Phoenix tl.60. 2 38 37% 374 + V* 414 324 Firestone T&R (2). 8 354 354 354 —4 524 45 First Natl Strs t2 4 4 454 45 45 464 324 Flintkote Co (1) .. 3 34 334 334 — 4 94 64 Follansbee Bros(d). 1 7% 7% 7% — 4 58 474 Food Machine (1)_ 1 524 52-4 524 — 4 544 43 Foster-Wheeler_ 3 464 46% 46** +14 18% 12 Francisco Sugar_ 1 124 124 124 —% 324 254 Freeport Sulph (1). 4 26% 264 264 -4 33 22 Gamewell Co _ 80» 25 24V* 25 +14 1064 100's Gannett cv pf (6)_ 10a 102 102 102 194 134 Gar Wood Ind a55c. 3 134 134 134 154 ll'i Gen Am Inv(a?5c)_. 14 124 124 12V* 864 68 Gen Am Train («1). 13 71 694 71 +14 14 84 Gen Bronze_ 1 94 94 94 324 234 Gen Cable _ 4 264 26 26% + % 644 504 Gen Electric (b40c) 38 544 534 53** — % 444 39 Gen Foods (2)_ 22 404 40 404 — 4 34 14 Gen Gas & Elec(A). 3 2 2 2 —4 654 60 Gen Mills (3) .. 1 64 64 64 —4 704 55% Gen Motors (bl 4)_. 134 60% 594 594 —% 122% 1144 Gen Motors pf(5)._ 3 1174 117% 1174 5% 34 Gen Pub Service_ 1 4 4 4 +4 654 42 Gen Ry Signal (1)_ 5 454 454 454 +2 54 3 Gen Realty & Util.. 7 3% 34 34 — 4 484 35 Gen Realty & U pf.. 3 36% 36 36% — 4 704 584 Gen Refract (a3%). 6 65 64 644 + 4 88 624 Gen Steel Cast pf .. 10a 654 654 654 204 154 Gillette S Raz (tl). 14 16% 164 164 -% 29% 204 Gimbel Bros_ 4 24 234 234 + 4 514 41 Glidden Co (2)_ 4 434 434 434 + 4 584 524 Glidden cv pf(2%)_. 1 524 524 524 64 44 Gobel (Adolf) _ 18 5% 44 54 + 4 84 6% Goebel Brew(t20c) 3 64 64 64 — 4 504 31 Goodrich ((BFibfirlc 21 454 444 444 — % 47% 274 Goodyear T & R bl.. 32 414 414 414 —% 141 100 Goodyear cu pf (5).. 3 123 123 123 —2 134 94 Gotham Silk Hose_ 1 9% 9% 9% 96 91V* Gotham S H pf (7).. 10a 92 92 92 +4 44 3 Graham-Palge_ 9 3% 34 34 — 4 15 64 Granby Cons_ 2 9 84 9 + V* 47% 40 Grant (WT) (tl.40) 1 40 40 40-4 554 40% Grt Northern pf_ 96 55 54 544 — 4 284 19 Grt Northn Ore (1). 10 22% 22 22 —4 424 35 Grt West Sug t2.40. 5 364 364 364 + 4 394 31% Green H L (tl.60).. 6 82 314 314 -4 164 13% Greyhound (t80c).. 11 144 144 144 + 4 4*4 2% Guantanamo Sug._ 3 24 24 24 20% 134 Hall W F Print_ 2 164 164 164 +% 105 101 Hanna (MA) pf(5). 10a 102 102 102 -1 584 43 Ilarb-Walker (12> x 3 464 46 46 + 4 17% 12% Hat Corp of Am 80c 1 14 14 14 — 4 8 44 Hayes Body 3 54 5 5 —4 109% 101 Hazel Atlas G1 (t5). 1 105 105 105 +4 15', 12% Ilecker Prod (60c).. 11 134 134 134 52% 394 Holland Fur(al 4). 4 394 394 394 — 4 1204 105% Holland Fur pf(5)_. 30a 1094 1094 1094 + 4 30% 21 Hollander & Son(l). 14 274 27 27V* + 4 43 4 314 Holly Sugar (t2)._. 4 35 344 344 — 4 431 327 Ilomestake (tl2)._ 160a 359 353 355 +2 41 37 Houd-Hersh A(2 4) 1 374 374 374 274 204 Houd-Her B (tl%). 12 23 214 22% +14 17% 124 Houston Oil vtc_ 52 164 16 16 904 62% Howe Sound <t3)_ 12 78 76 764 -4 234 17% Hudson Motor_ 11 194 184 19 + Vi 4 34 Hupp Motor . ... 11 34 34 34 4 Hupp M rts May24.. 70 4 4 4 38 22% Illinois Central_ 34 32% 32% 32% - Vi 47% 36% Indus Rayon (2)_ 24 43% 43 43% — % 131% 110 Inland Steel (+4)_ 1112 112 112 -1 6 4% Insur Sh Md (blOc). 15 5 5 13% 7% Inter Rap Tr vtc(d) 1 8% 8% 8% + % 111% 107% Interchemical pf (6) 10» 109 109 109 +1 28% 16% Interlake Iron _ 15 20% 20 20 — % 9% 5 Inti Agricultural_ 23 7% 6% 7 + % 63% 42 Inti Agricul pr pf_ 4 55 52% 55 +3 189 156 Inti Bus Mach(t6).. 2 155% 155 155 -1 111% 99% Inti Harvester*2%) 45 109% 108% 108% + % 162 144% Inti Harv pf (7)_ 2 148 148 148 +1 16% 8% Inti Hydro El A __ 24 12 11% 11% - % 15V* 6% Inti Mercantile M._. 5 11% 10% 10%+ % 18% 11% Inti Mining (bl5c)-. 1 12 12 12 73% 55% Inti Nickel (bl)_ 87 62% 61% 61% + % 24% 16% Inti Paper *A)_ 7 18% 18% 18%+ % 18 10% Inti Paper (B)_ 8 13% 12% 13 9% 5% Inti Paper *C)- 16 7 6% 6 %-% 121% 90V* Inti Paper pf_ 14 107 105% 106% - % 10 5% Inti Ry Cent Am_140s 6% 6% 6% + % 28% 25% Inti Salt (t 1 % )_ 1 25% 25% 25%+% 49% 43% Inti Shoe <t2)_ 3 43% 43V, 43% 52 31% Inti Silver _ 3 41% 41% 41% 15% 10% Inti Tel & Tel_ 31 11% 10% 11 -% 36% 24% Interstat Dp St b2 % 2 27% 27% 27% 30 25% Island Creek (2)_ 5 29% 29 29% + % 155 125% .Tohns-Manv < +3) 2 131% 131% 131% 136 122 Jon&L 7% pf(bl?i) 60s 125 124% 125 +1 29 20 Kans City South . 9 25% 24 24% — % 44% 35 Kans City So pf(al) 2 36% 36% 36%+% 23% 16% Kelsey-H A <al%).. 2 17 17 17 -% 19% 13% Kelsey-H B (al%). 3 13% 13% 13%-% 69% 51 Kennecott (b50c) 28 56% 55V* 55% —IV* 20% 16% Keystene S&W b.10o 3 17% 17% 17% - % 29% 24V* Kresge S S (b30c) 4 24V* 24% 24% 24V* 21% Kroger Groo (tl.60) x 4 22% 21% 22%+% 24 18% Lambert Co (2) ... 11 21% 20% 21%+ % 27% 17 Lee Rubber (50c)-_. 4 25 24% 25 + V* 51V, 35% Leh Port Cmt 1 %... 4 40% 4(T 40%-% 3% 1% Lehigh Valley Coal. 14 2 1% 1% + Vi 18% 9% Lehigh Val Coal pf_ 4 10% 10% 10% + % 24% 17 Lehigh Valley R R.. 14 21% 20% 20% 137 118 Lehman Corp < + 3)_ 2 123% 123 123 +8 58% 48% Lerner Stores(t2)._ 1 49% 49% 49%—% 79 61% Libbey-Ow-F b75c.. 32 70% 68% 69% +2% 15% 9% Libby McN&L(al) 4 13 13 13 114 96% Ligg & Mvers B t4 8 99% 99 99 175 153 Ligg* Myers pf (7). 1 155 155 155 +1 83% 59 Lima Locomotive 5 69 66% 69 +2% 53% 43% Liquid Carb <2.60>_ 2 50% 50% 50% + V* 84% 64% Loew's Ino (t2)_ 21 81Vi 79% 79%-% 3% 2% Loft Inc_ _ 12 3 2% 2% — V* 75V* 52 Lone Star Cmt b75c. 10 56 55V, 55%—1% 10% 6% Long-Bell Lumb(A) 3 7% 7% 7% — V* 43V* 33V* Loose-Wiles (2) ... 1 33% 33% 33%-% 109V, 106 Loose-Wiles pf (6).. 10s 108 108 108 +1 28% 21% Lorillard P (tl.20)_ 18 22% 22% 22%+% 99 86% Louis* Nash b2%„ 8 93 92% 92% +1 41% 29% Ludlum Steel (tl)_ 6 33% 33 33 - V* 36 29% McCall Corp <t2)_ 1 29% 29% 29%-% 24% 16% McCrory Stores 2 16% 16% 16% - Vi 106V* 95 McCrory Strs pf (6). 1 92V, 92% 92%—2% 28% 20% McGraw H P b27%c 2 20% 20% 20% 42% 33% McIntyre Porcu*2). 13 34 33% 33% 42% 31% McKeesp’t Tin Plate 3 32 31% 31% + % 16V* 12% McKesson & Rob .. 31 14% 14 14V* + % 19 13% McLellan Strs b76c. 1 14 14 14 , 62V* 42% Mack Trucks (tl) 5 49 48 48 -% 15% 11% Mad Sq Garden b95cx 11 14% 13% 13%+% 63 46 Magma Copper (2).. 1 48 48 48 6% 3% Maracaibo Oil Exp.. 1 4% 4% 4% 14% 10% Marine Mid (t40c)_. 2 11 11 11 30% 18% Marshall Field_ 3 25% 24% 24% - V* 29% 25% Martin (Glenn)_ 16 28% 27% 28 - % 74 65 Masonite (tl) _ 3 57% 56% 57% +1 41% 35% Mathieson Aik (1%) 3 36% 36 36 -% 66V* 56 May Dept St (t3)_ 3 61 60% 60% +2% 15% 10% Maytag Co (a50c)._ 1 10% 10% 10%-% 44 39% Maytag pf ww (3).. 1 39 39 39 -% 111 106% Maytag 1st pf (6)__ 30s 106% 106% 106% - % 101 94 Mead Corp pf (6)_110s 95 95 95 + % 16% 11% Mensel Co_ 2 13% 13% 13%+% 47% 41 Mengel 1st pf (2%). 30s 42% 42% 42%-% 41 35% Merch&Min (tl.60). 20s 35% 35% 35% 72% 68 Meat* Mach (bl%). 2 64% 64% 64%-% 26% 14% Miami Copper_ 14 17% 16% 16% 85% 28V* Mld-Cont Pet (b50c)x 10 30% 29% 29% - % ; l Prev. 1937 Stock and Sales— Net High. Low. Dividend Rate. Add 00. High. Low. Close, chge. 48% 38 Mldld Stl Prod(t2). 3 40% 40 40 -1 122 115% Mldld Stl 1st pf(8)_ 20e 117% 117 117 106 100% MilwER&I pf(6)_ 40e 99% 99% 99% -1% 120 100 Mlnn-Hon Roe (2)_. 2 105% 105 105 -1% 16% 11 Minn Moline Pow... 29 13% 13% 13%+ % 101 88% Minn Moline Pw pf. 2 93% 93 93% +1% 6% 4% MStP&SSMlsln. 10s 4% 4% 4% - % 34 26% Mission Corp (a45c) 23 29 28 29 9% 6% Mo Kans & Texas12 8% 8 8% + % 34% 24% Mo Kans* Tex of A 51 31% 30 31%+ % 12% 7 Mo Pacific pf (d) . 16 10% 9% 10 101 85 Monsanto Ch(tl.60). 1 88% 88% 88%+ % 69 52% Montg Ward (t2)_ 66 54% 53% 53% - % 46 40% Morrell J (2.40)_ 1 41 41 41 66% 60 Morris & Esx (3%). 10s 60 60 60 3% 1% Mother Lode al2%c. 13 1% 1% 1% — % 38% 31% Motor Prod <t2)_ 2 35% 35% 35%+% 26 20% Motor Wheel(1.60)_ 3 22% 22% 22%+ % 54 41 Mueller Brass (tl)_ 4 43% 42 43%+1 39% 28% Mullins B (a50c)_ 1 29 29 29 + % 99% 91% Mullins pf (7)_ 20» 93 93 93 — % 36% 27% Munsingwear (3)__ 4 29% 29% 29%—% 90 70 Murphy G C (2.60).. 2 81 80 81 +4 108% 102 Murphy GCpf (5).. 80s 107% 101 107 +% 20% 13% Murray Corp(aBOc). 4 14% 14% 14% 24% 17% Nash Kelv (1) 13 20% 20% 20% - % 47% 36 Nashv Chat & St L.. 10s 39 39 39 + % 24 18% Natl Acme (a75c)_ 1 20% 20% 20% 18% 12% Natl Aviation (al)_. 2 14% 14 14% +1% 33% 25% Natl Biscuit (1.60). 16 26% 26% 26%-% 167 148% Natl Biscuit pf(7).. 2 148 148 148 —2 33% 25% Natl Bond & in 1.44. 4 28% 28% 28%—% 38% 29% Natl Cash Reg (1).. 17 34 33% 34 + % 26% 22% Natl Dairy Prd 1.20. 19 23 22% 23 + % 109% 107 Natl Dairy pf B (7). 120« 108% 108% 108% - % 35 27% Natl Distillers(t2)_ 19 31% 31% 31%+% 18% 15% Nat'l Gypsum Co... 10 17 17 17 + Vi 44 31% Natl Lead (t50c)... 6 35% 34% 35%+ % 61% 48 Natl Mall & S C b50o 2 53% 53% 53% — % 14% 9% Natl Pw & Lt (60c). 18 10% 10 10 — % 1 % Natl Ry Mex 2d pf.. 5 % % % + % 94% 70 Natl Steel (t2%)__. 11 84% 84% 84%+% 106% 62 Natl Supply Co _ 33 109% 103 109% +6% 130 121% Natl Supply pf bl% 4 129% 128 129% +1% 12% 8% Natl Tea (60c)_ 1 9% 9% 9% — % 13% 10% Natomas (t80c)_ 3 10% 10% 10%+% 37 19 NewOrlT&M (d).._. 60s 26% 26 26 -1 41% 28 Newport Ind(b50c). 35 32% 29% 31% +2% 98% 73% N Y Air Erake (al). 1 81 81 81 +1 oo'/i 4<i Ts Y Central__ 565 48*i 4 i“k 48% -t 72 41 N Y Chi & St L_ 1 67 67 67 100 83 N Y Chi & St L pf_ 1 92% 92% 92% 31% 26 N Y City Omnibus.. 41 30% 29% 30% +1% 21% 15% N Y City Omnib p w. 7 20 19% 20 41 12% 8 NY Dock_140s 9% 9 9Vi 4 % 25% 17% NY Dock pf_ 30s 20 19% 20 41 2 1 N Y Investors (d)_ 5 1% 1 1 — % 9% 5% NY NH & H (d)_ 12 7% 7% 7% 4 % 26% 16% NY NH & H pf (d)_ 27 2! 20% 20% 4 % 6% 1% N Y Ontario & W_ 2 4% 4% 4% 4 % 15% 10 N Y Shipbuilding_ 1 10% 10% 10% 102% 95 N Y Steam pf (6)... 100s 101% 101 101% 112% 107 N Y Steam 1st (7)_10s 111% 111% 111% -1 4% 2 Norfolk South (d).. 10 3 3 3 4 % 272 236% Norfolk & W’n (10). 1 248 248 248 43 17% 11% North Am Aviation. 11 12% 12 12 — % 34% 24 North Am Co(b30c). 18 25% 25% 25%—% 57% 51% North Am Co pf (3). 2 54% 54% 54V* 4 % 36% 27% Northern Pacific ... 193 35% 33% 35V* - % 53% 51% Northwest Tel (3)_. 20s 53 52% 52% 4 % 6% 3% Norwalk Tire & R__ 2 4% 4% 4% 4 % 22% 1T% Ohio Oil (b50c) ... 23 20% 20% 20% 73 53% Oliver Farm Equip. 48 70% 68% 69% — % 26% 16% Omnibus Corp vtc.. 24 19% 17% 19 4 1% 19% 13% Oppenheim Collins.. 1 14% 14% 14% — % 45V* 35 Otis Elev (60c)_ 9 40% 39V* 39% — % 24% 16% Otis Steel _ 11 18% 17% 17%-% 97 75 Otis Stl cv pf (5%). 1 86 86 86 -1 28 22 Outboard Mot b75c. 1 23% 23% 23% 87% 82% Owens-Ill Glass (3). 15 92% 88 92V* 45% 23 17% Pacific Am Fish 1.20 8 19 18% 18% 4 % 15% 9% Pacific Coast__ 10s 10 10 10 32% 24 Fac Finance(tl.80)- 3 25% 24% 25%-% 38 29% Pac Gas & Elec (2)_ 9 30% 30% 30% - % 53% 43% Pac Lighting (3)_ 2 45% 45 45 -% 44% 33% Pac Mills (b50c)_ 2 35 35 35 152 139 rac Tol & Tel (8)_30s 140 140 140 41 29% 22V* Pac West Oil(a63c>. 7 24% 23% 24% 4 % 12% 9% Packard Mot (bl5c) 24 10 9% 9% 4% 2% Panhandle P & R . 7 3% 3% 3% 104% 60 Panhandle P&R pf. 960s 107 101% 106 44 28% 20% Paramount Pic ._ 66 21% 21% 21% — % 200% 140% Paramnt 1st pf (6).. 1 149% 149% 149% -3% 26% 18V* Paramnt 2d pf 60c_ 11 19% 19 19% — % 8% 4% Park Utah_ 12 4% 4% 4% 4 % 44% 38 Parke Davis (bl)... 1 39V* 39% 39% — Vi 29% 24% Parker Rust (tl%) x 1 25% 25% 25% 4 V* 10% 7 Paths Film Corp_ 5 7 7 7 23% 14% Patino Mines(t60c). 15 17% 17% 17% 4 % 7% 3% Peerless Corp_ 24 7% 6% 6% — % 64 43% Penick & Ford(t3)_. 4 45% 45% 45% — % 103% 94V* Penney J C) (4)_ 10 98% 98% 98% 4 % 12% 7% Penn Dixie Cement- 1 8% 8% 8% 4 % 29% 22 Penn G1 Sdct a50c.. 2 26% 26% 26% - % I 50V* 39% Penn Railroad (a2). 37 45 44% 44% 4 % 116% 112% Peoples Dpf (6%).. 10s 114 114 114 -1 65% 46% Peoples Gas Chi_ 2 47% 47% 47% —IV* 17 4% Peoria & Eastern_ 2 11 11 11 42 48% 34 Pere Marquette_ 2 43% 43 43% 4 % 25 20% Pet Milk (tl)_ 1 20% 20% 20% 21% 16% Petrol Corp(A) b40c 2 18% 18% 18% 13V* 9% Pfeiffer Brew b60c 3 10% 10% 10% — % 6-32 1 32 Pfeiff Br its May 13 16 1-32 1-32 1-32 59% 46% Phelps Dodge b80c . 18 48% 47% 48 4 % 54% 49 Phila Co 6% pf (3). 4 49% 48% 48% — V* 100% 88% Phila Co pf(6)new_ 1 90% 90% 90% 4 % 7% 5 Phila Rap Tr (d) 100s 5 5 5 3% 1% Phila & Read C & I . 11 1% 1% 1% 4 14 84V* 70 Philip Morris(b3 %) 6 76v* 75% 75% —1% 59V* 49% Phillips Petrol’m t2 21 56% 55 55% — % 56 50 Pirelli (A) (a3.13) . 10s 53 53 53 41% 76% 60 Pittsburgh Coal pf. 1 60 60 60 —4 20 13% Pitts Screw&B bl5c 3 15% 15% 15% — t. 122 _ sm puts steel pi_ 290, 98% 98 98% 8% 3% Pitts United_ 1 5% 5% 5V» + % 47% 31% Pitts & W Va__. 30, 41% 41 41% +1% 29% 24% Plymouth Oil (tl) — 7 27% 27% 27% 21% 18% Pond Creek Poo <2)_ 2 19 18% 18% — % 33% 22% Poor* Co (B). _ 23 26% 24% 26% +2% 15% 8% Postal Tel&C pf(d). 2 9% 8% 94 + % 31% 22% Pressed Steel Car_ 11 24% 23% 24 86 63 Press Stl 2d pf 24— 1 64 64 64 65% 55% Proctor & Gam(t2)_ 5 61% 61% 61% — % 52% 40% Pub Svo N J <2.60)_ 26 42 41% 41% + % 112% 100% Pub Svo N J pf (5)_. 2 104 104 104 128% 117 Pub Svc N J pf (6)„ 1 118% 118% 118% + 1% 1624 152 Pub Svc X J pf (S) — 1 149% 149% 149% — 2% 1134 111 Pub Svc E&G pf (5). 1 112% 112% 112% + % 724 574 Pullman Inc (14)— 16 60% 59% 60 24% 18% Pure Oil. _ 45 20 19% 19% — % 107 99 Pure Oil 6% pf_ 1 101 101 101 —1 112% 108 Pure Oil pf (8)_ 10s 110% 110% 110% 23% 15% Purity Bak (60c)_ 2 17% 17% 17% 184 16 Quaker State O b43e 2 17% 17s, 17% + % 12% 8% Radio Corp. _ 54 94 9% 9% — % 80 68% Radio pf A (34)_ 4 70% 694 694 — % 104 7% Radio-Ke!th-Or (d). 7 84 8% 8% - 4 37% 29% Raybestos M (tl4) 1 30 30 30 + % 47 37 Reading RR (2)_ 1 41 41 41 13% 8% Real Silk Hosiery— 19 9 9 294 21 Rem-Rand (t60e) _ 108 264 25% 25% + % 94% 80% Rem-Rpf ww(4%). 4 83% 83% 83%+ % 110 99 Rensselaer* S(8)__ 40s 99% 98% 98% -1% 9% 5 Reo Motor Car_ 22 6% 6% 6% 47V* 274 Republic Steel- 81 39% 38% 38% - 4 110% 99 Republic pr pf A(«) 1 106 106 106 49% 33% Revere Copper_ 2 40% 40% 40% — % 98 71 Revere Copper(A)— 1 82% 82% 82%+% 95% 91 Revere Cop pf 6 4_ 20, 92 92 92 30% 23 Reynolds Met (tl)_ 3 24% 24% 24% 34V* 23 Reynolds Spr (tl)— 2 23% 23% 23% + V* 68 50 Reynolds Tob B (3). 19 61 50% 50%—% 46 36 Safeway Stores(t2) 3 37% 37% 37% — % 113 106% Safeway Strpf (6).. 10, 107 107 107 +% 65 43% St Joseph Ld(b50c). 40 53% 51 51 —i 4% 3 St R-San Fran (d)_ 5 3% 3% 3% + 4 114 6% St L-San Fr pf (d)_ 22 8% 8% 8% + % 51% 42% Schenley Dist(b?5c) 12 45% 44% 44%+% 45% 38 Scott Paper (1)_ 130, 40% 40% 40% 24 1% Seaboard Air L, (d). 6 1% 1% 1% + % 8% 54 Seaboard A L pf(d). 7 6 6 6 —4 544 40V* Seaboard Oil (1) ... 10 45 434 4314—74 95% 81 Sears Roebuck <3)_. 34 88% 87% 87% + % 34 26 Servel Inc (tl)- 20 29% 28% 29% +1% 14 9% Sharpe & Dohme_ 18 12% 12 12—4 65 59% Sharp & Do pf (3 %). 2 60 59% 60 +% Prev 1937 Stock and Sales— Net High. Low. Dividend Rate Add 00. High. Low. Close, chge. 17% 12% Shattuck F G (60c). 6 14% 14 14 — % 4% 3% Simms Petrol __ 4 3% 3% 3% — % 60% 42 Skelly Oil (b50c)._. 8 58% 58% 58% 41% 102% 98% Skelly Oil pf (6)..„ 1 98% 98% 98% 197 85% Sloss-Sheffield Stl._ ?0s 161 161 161 4 1 120 103% Sloss-Sheff pf (6).. 100s 101 101 101 -2% 40% 27% Smith & Cor ctfs(l) 1 34 34 34 + % 20% 16% Socony-Vac (b25ci. 97 19% 19% 19% — % 6% 3% South Am G & P 30c 11 4% 4 4 42% 34 South Port Sug(T2) 3 36% 35% 36 + Vi 32% 25 So Cal Edison tl V4 — 12 25 24% 25 65% 42% Southern Pacific_ 98 60% 59% 60% + % 43% 24 Southern Ry_ 75 40V* 39% 33% 60% 45 Southern Ry pf_ 23 52% 51% 51%+ % 77% 66 Spalding 1st pf_ 40s 66 66 66 9% 5% Sparks-Withing_ 6 6'% 6% 6% 23% 17% Sperry Corp vtc(al) 9 19 18% 18%—% 28% 21% Spiegel, Inc (1) _ 7 22% 22% 22%+% 95% 90% Spiegel cum pf(4%) 40s 92% 92% 92% - % 48% 37% Square D (B> b25c_. 5 41 40% 40%—% 16% 12% Stand Brands(t80c) 52 13% 13% 13% - Vi 128% 120|* Stand Brands pf (7). 360s 121 121 121 14% 8% Stand Gas & El (d)_ 12 9 9 + % 32% 19 Stand G&E {4 pf(d) 6 22 21% 21%-% 72% 49% Stand G&E $7 pf(d) 1 51% 51V* 61V* - V* 4 2% Stand Inv Corp_ 13 3 3 50 42% Stand Oil Calif (tl). 18 44% 43% 44%+% 50 43% Stand Oil Ind (tl)._ 24 45% 44% 44% — % 32 30% Stand Oil Kan(al).. 1 30% 30% 30% 76 64 Stand Oil N J (tl).. 66 68 67V* 67'*—% 48 34% Starrett L S(tl.40). 1 4.3% 43% 43% +1% 75 63% Sterling Prod t3.80. 6 64% 64 64% -r % 21 17% Stewart-Warn t50c. 6 19 18% 18% — % 34% 25% Shell Un Oil (a25c). 11 30% 30% 30% — % 17% 12% Silver King (b25c).. 4 13% 13% 13%+% 68 44%SimmonsCo (b50c). 5 46% 46 46%+ V» 2 32 1 32 Simm’ns rts May 19. 98 1-32 1 64 1 64 17% 15V* Stokely Bros (tl)._ 1 15% 15% 15% 33% 21% Stone & Web(a25c). 9 23% 23% 23% + Vi 20 13% StudebakerCorp_ 23 15% 15% 15% — V* 77% 68 Sun Oil (tl) _ 3 68 68 68 125 119 Sun Oil pf (6)_x 10s 125 125 125 +1% 61% 40% Superheater Co (1). 1 45 45 45 7% 4% Superior Oil_ 20 6% 5% 5% — % 47V* 33 Superior Steel_ 3 36% 36 36%+ ", 20% 13 Sweets Co of Am... 2 18 17% 18 + V* 28% 24% Swift & Co (tl.20).. 8 24% 24% 24%+ % 33% 30% Swift Internatl (2). 1 31% 31% 31”*—% 23% 16V* Symington ww blOo 10 18 17% 17%+ % 17% 12% Symington xw blOc. 16 13% 13% 13% -r % o', 0% xeiautograph<60c). 17 7 7 15% 10% Tenn Corp (al5c)._. 11 12% 12% 12%+% 65% 50% Texas Corp (2) _ 47 62% 61% 61% — % 9% 7% Texas Gulf Pr a5c_. 3 7% 7% 7% 44 35% Texas Gulf Sul <t2) 4 37% 37% 37% 54% 42% Texas & Pac R R_ 1 47% 47% 47%. + % 16% 12% Tex Pac C&O blOc._ 8 14% 14 14 15% 11% Texas P L T (alOc). 9 11% 11% 11% 48 37% Thatcher Mfg ( + 1)_. 1 39 39 39 93% 85 The Fair pf (7)_ 20s 89% 89'.* 89%—% 13% 9 Thermoid Co_ 17 10% 9% 10% + % 8% 4% Third Avenue_ 1 4% 4% 4% — % 28% 23 Thomps'n Prod b40c 5 25% 25 25 + % 10% 5% Thompson Starrett 2 6% 6% 6% 21% 16% Tide Wat As Oil 80c x 23 18% 17% 18%+ & 97% 96 Tide Wat A O pf 4 % 1 97 97 97 28% 21% Timken-Detroit(tl) 6 23** 23% 23% — % 79 60V* Timk’n-Roll Rrg(3) 3 62% 62% 62%+ % 17% 13% Transamerica t40c 8 14% 14% 14% — % 22% 14% Trans Wst Air a2oc 12 15% 14 , 14% — % 11% 8% Tri-Conti (aDOc)_ 12 8% 8%. 8% + % 109% 104% Tri-Conti pf (6)_ 1 105 105 105 -1 12 8% Truax-Traerl b25c). 3 9% &% 9% •+■ % 26% 17V* Truscon Steel _ 1 18% 18% 18% + % 40% 331* 20th Cent Fox b50c. 17 38% 37% 37% — % 50 42% 20th Cent F pf(l%). 3 47 46% 46% — % 17% 9% Twin City R T .. 2 10% 10% 10% 94 66 tfwinCRTpf al4__ 10s 75 75 75 4 2% 26% 16% Twin Coach (bloc). 3 20 20 20 + % 6% 3% Ulen Sc Co _ 2 3% 3% 3% T % 100% 80 Und-Ell-Fisher (3). 8 81 80 80% — ■% 111 95 Union Carb (3.20) . 27 99% 99 99%. + % 28% 24% Union Oil(Calif)1.20 10 25 24% 24s, — % 148% 126% Union Pacific (6) . 4 145 143% 143%— % 99% 90% Union Pacific pf(4). 2 90% 90'., 90% 31% 26% Union Tnk Car 1.60. 14 29% 28% 29% +1% 35Vs 24V» Utd Aircraft(a50c). 23 26% 26 26 " — V» 24% 16% Utd Air Lines a20c. 11 17% 17 31% 19% Utd Am Bosch_ 1 21 21 21 +1% 91 69% Utd Carbon 4 4) _ 2 76% 76% 76' . -1 36 29 Unlt-Carr Fast(t2). 1 32% 32% 32% t V« 8% 4% Utd Corp <a20c)_ 52 5% 5% 5% 46% 38 Utd Corp pf (3) . 10 41*, 40% 41 + Vi 16 12% United Drug (b25c). 2 13% 13% 13% -r % 26% 18% Utd Dyewood (1 ) 3 24 23% 23% 106V* 96% Utd Dyewood pf (7) 10s 102 102 102 +4 9% 6 Utd Elec Coal 31 7% 6% 7% + % 1% % Unit El C rts May 14 99 1 1% t, + j, 86% 79 United Fruit (t3)._ 3 81% 81% 81%-% 17 13% Utd Gas Imp (1)... 23 13% 13% 13% — % 113% 110V* Utd G Imp pf (5)... 1 110% 110% 110*, — % 16% 6% Unit Paper’bd h30c 14 14% >3% 13% _ i4 24% 17 U S & For’n Secur.. 2 18 18 18 + v* 34% 20% U S Freight (tl) _. 1 22 22 22 -r % 172 156% U S Gypsum pf (7). 20s 156% 156% 156% 43% 34% U S Indus Alcohol.. 1 36 36 36 + % 15% 6% U S Leather vtc ... 1 10% 10% 10% 22% 13V* TJ s Leather(A)vtc. 2 17% 17 17 — % U S Pipe & Fdry<3)_ 3 56 56 56 + % 19 ', 11% U S Realty & Imp... 1 12% 12% 12% -r 1* 72% 44V* U S Rubber _ 26 60% 59 59 118 89% US Rubber 1st pf... 3 94% 92 9* -1% ?2% US Smelting (b4)_. 3 86', 86% 86%-% USSmeltpf (3%).. 2 68% 68 68 -1 126% ,0 US Steel - 123 105% 104% 104% - % loll 13o% U S Steel pf (7)- 15 137% 137 137'’-% 9% 6% Unit Stk Yds (50c). 5 7% 7s. 7.v , 8% 4% Utd Stores (A) .... 4 5% 5% 5% 4'S 2% Util Pw&Lt (A)(d). 2 2% 2% 2% — V, 58% 48 Vadsco Sales C pf._ 20s 53% 53 531,+ v* 39% 26 Vanadium Corp_ 5 29% 29V* 29% — -% 12% 7% Va-Car Chemical... 43 9% ~9% 91. + .* 74% 52 Va-Car Chem 6% pf 21 60'57 60 -r3% 115 108 VaEl&Pwof (S)__ 30s 112* 110 112 98 70 Vulcan Detin (a8)._ 10s 80 80 80 waDasn <d) 4 71., 7^ 7^ + y 18V 9 Wabash pf (A) (d).. 9 15 14'.. 14... _ i‘ 19V 13 Waldorf Sysftl.20). 3 14'- 14V 14a, _ v, 33 28 Walgreen Co (2)_ 3 29V 29V oqa, t. 49V 42 Walker (H) (2)- 4 45 44V 44V — V 18V 11V Walworth Co - 20 16 15V 151, - v 1034 5Vi WTard Baking (B)_ 2 7 7 7 18 12V* Warner Bros Pict__ 32 13*v» 127s 127« — Vi 1*4 *4 Warner-Quinlan(d) 4 "8 t8 74 4. 1, 12Vu 6** Warren Bros (d) __ 33 9V4 9 9 _ V, 4®. Jvarlenfdy&P(tl) 3 40* 4<>H 40V +V 38V4 284 Waukesha Alot (1). 1 31 31 31 4-V Webster Eisenlohr. 1 5V 5V 5V + V 56 46 W esson O&S (ToOc) 3 49V 49v 49w _ a, 100'V 90 West Penn El pf(6) 200s 93V 93 93 109 100 West Penn El pf(7) 150s 100' 100 100 -V i23V H8 West Pa Pwr pf (7) 40s 120V 120V 120V -f V 11V 8V Western Maryland. 12 9V 9V 9V + V 4V 2V Western Pacific _ 4 3t* 31, 31^ 11V "V Western Pacific pf_. 7 9 8V 8’* 83V 59V Westn Un Tel (3).. 40 63-V 62V 6°V 57V 41V Westlngh'se A B(l) 25 47 447. 46V -2'. 167V 130V* Westhse Elec <b2) x 1 138 138 138 + '.* 27V* 20 Westvaco Chlor (1) x 1 21V 21V V', » 65 38 Wheeling Steel_ 7 49V 48V 48V - V 33V 23V White Motor _ 8 25V 24V '4V — V 18V 14V White Rk M S(l.40) 1 15 15 45 _ x 12V 8V Wilson & Co (50c).. 12 9V 9V 9V 91V 79V Wilson & Co pf (6). 1 84V 84V 84V - V 65V 48 Woolworth (2.40) . 40 50 49*. 49*. + 1. 47 34V Worthington Pump 6 38V 37 37 — 7, 112V 81 Worth Pump pf(A) 150s 108 106V 106V-1 62V 48V Yale&Towne(t60c)_ 2 51V 51V 51V - V 37V 20V Yellow Tr & Coach 109 25V 23V 23V -IV 142 123 Yel Tr&C pf(bl»i) 160s 129 127 129 +1 46V 39V Young Spr&W(t3). 2 40V 40V 40>« + V Id* 75V Ygstn S&T <b75c) . 8 90V 89V 89V- V 115 99V Ygstn g&T pf (6V). 1 100', 100'- 100', + V 40V 31 Zenith Radio (bl).. 6 36V 36 36 + t* 9V* 6 Zonlte Products_ 1 6V 6V 6V + V Approximate Sales of Stocks on the N. X. Stock Exchange. - 260.000 11:00 A.M_ 420 000 12:00 f*oon. 550,000 1:00 P.M_ 650 000 Total Sales for the Day 820,000 . _ Dlv,dend rates as riven in the aDove table are the annual SaratlonsmenM b®S0d °D th* ,Rtest ouarter* or half-yearly dec , ‘A^1* 01 tr*dln* le« than 100 shares. (Annua) rate— not includinr extrat. a Paid last year. b Paid this year * Ex^lvldendreDorted '» receiver,Mo or beinr reorr.nvld NEW YORK COTTON By the Associated Press. NEW YORK, May 7.—Early ad vances in cotton today encountered scattered liquidation, including com mission house selling of July. More favorable weather In the cotton belt and absence of bullish incentives In fluenced sentiment. July eased from 13.17 to 13.08 and was within a point of the low in mid afternoon, when prices were net un changed to 3 points lower. Futures closed steady, 2 higher to 4 lower. . High. Low. Last. May -13,12 13.00 13.05-06 July -13.17 13.05 13.08-09 October -12.9:1 12.83 12.85-86 December _12.88 12.81 12.82 January_12.92 12.84 12 85 March_ 12.96 12.87 12 89n Soot oulet: middling. 13.58. n—Nominal. Cottonseed Oil. Bleachable cottonseed oil futures closed easy, 17 to 24 lower. Sales. 97 contracts; May, 9.61b; July, 9.76b; September. 9 81b; October, 9.73; De cember, 9.66. b—Bid. New Orleans Prices. NEW ORLEANS. May 7 5P).—Cotton opened steady In quiet trading today, but there was little change In prices. Liver pool cables were a shade better than due and initial trades here were unchanged to 1 point up. July contracts opened at 13.06. October at 12.90. December at 12.97. January at 12.99 and March at 13.03. Near the end of the first half hour the market was quiet and active positions were at or near the opening prices. Early weather reports were ideal for the crop and most floor brokers assumed a waiting attitude. There was nothing in the overnight news to affect the market on either side. Liverpool reported a small trade Bom bay and local demand, with flurries of covering by shorts. Manchester cables that there was a good demand for cloth and yarn, but delivery difficulties restrict ed business. Domestic cotton goods mar kets were reported moderately active, with prices firmer. Cottonseed oil opened steady. May. 9.34b; July. 9.42b* September. 9.47b: Oc tober. 9.37b; December, 9.29b. b—Bid. DOLLAR MOVES HIGHER IN LONDON DEALINGS By the Associated Press. LONDON, May 7.—The foreign ex change market was quiet today. Final quotation on the United States dollar was 4.93=Ji to the pound, a gain of 3-16 cent over yesterday. New York’s ovemigh trate was $4.93 13-16. French francs finished at 11.00 to the pound, compared with 109.94 yes terday. PARIS, May 7 i&).—Rentes, 3 per oent, 66 francs 35 centimes; 4V4s “A," 71.60; 4>/2s 1937, 94.65. Exchange on London, 110.17V&. The dollar was quoted at 22.30. 1 S. H. KRESS SALES LAG BEHIND 1936 IN APRIL By the Associated Press. NEW YORK, May 7.—S. H. Kress & Co. reported $6,399,609 April sales, compared with $6,872,970 a year ago, a decline of 6.9 per cent. For the first four months sales totaled $24, 550,544, against $23,850,765 in the like 1936 period, a gain of 2.9 per cent. Lane Bryant, Inc., reported $1,387, 152, against $1,386,671 in the like 1936 month. For the first four months sales totaled $4,835,873, aga^pst $4,515, 284 a year ago, a gain of 7.1 per cent. --• STEEL SCRAP REDUCED. NEW YORK. May 7 OP).—Dow, Jones & Co. reported today a further decline in the price of heavy melting steel scrap at Pittsburgh to a range of $19.50—$20 a ton, off 50 cents. Only small tonnages were reported sold at the new price. Around its peak early last March scrap was quoted in Pittsburgh at $23—$23.50 a ton. -• Air Way Electric Appliance Corp.— Net income including $50,110 non recurring profit, in 12 weeks ended March 27, was $9,234, equal to 56 cents a preferred share against deficit of $32,138 in 12 weeks ended March 21, 1936. Few Specialties Advance Sharply, but Volume Remains Low. Stock Averages 30 15 15 «0 Indus. Rails. Util. Sties. Net change, -+-.1 +.1 —.3 Unc. Today, close 93.1 46.8 43.9 69 1 Prev. day... 93.0 46.7 44.2 69 1 Month ago. 93.4 44.4 46.0 69.2 Year ago... 79 0 32.8 43 8 58.6 1937 high...101.6 49.5 54.0 75.3 1937 low... 89.6 37.8 42.8 66.2 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, Associated Press Financial Writer. NEW YORK, May 7.—Leading stocks encountered recovery difficulties in today’s market and closing price trends were indefinite. A few specialities advanced sharply on comparatively small turnovers and resistance was displayed by others, but vigor was lacking in either di rection. Business news, on the whole, was comforting, although here and there were signs the industrial picture was clouding in spots. Steel scrap at Pittsburgh, long con sidered an economic barometer, was reported to have suffers! another de cline of 50 cents a ton, putting it down about $3 from its Spring peak. Official figures on last week's freight loadings revealed the highest aggregate since last November, but the increase over the preceding week was less than seasonal. Rails pushed up briskly at the start, with Santa Fe hitting a new top and one block of 12,000 shares of New York Central coming out at a frac tional advance. These, with other carriers, were pushed and pulled at intervals. Farm implements also had their innings, along with mail orders. Activity was a bit more pronounced than yesterday, but dealings were still relatively slow. Transfers were around 850,000 shares. Shares of National Supply and Ow-ens-Ulinois got up about 5" points each to their best levels for the year or longer. Celanese also edged into new high ground. Performing on the upside most of the time were Allied Chemical, Beth lehem Steel, National Steel Clark Equipment. Allis-Chalmers. Sears. Roebuck, Westinghouse. Air Brake, J. I. Case, International Harvester, Oliver Farm. Santa Fe, N. Y. Central. South | ern Pacific, Southern Railway. New port Industries, Libby-Owens, N. Y. Omnibus. Skelly Oil, Atlantic Coast Line and Poor & Co. CHICAGO GRAIN By the Associated Press CHICAGO, May 7.—Except for a temporary flight of May corn to a new high price record. $1.35!2, gram values suffered material losses ’ today, wheat 2\ cents maximum. A total of 350,000 bushels of wheat w-ent into store here today, presumably for May delivery purposes. Uncom pleted May wheat contracts here ars approximately 19.500,000 bushels. At the close, wheat was 1 cent to 2% _under yesterday's finish; May, 126-^-1.27; July, l.l7Js —: corn, l1, off to up; May, 1.33',; July, 1.19",-U., and oats varying from I cent decline to *s advance. Wheat— Oner.. Hich. Low close Jab’ 11s3, 1.11*1« 1.10 j ft7- * September 1 16s, 1.17*4 1.16 116-'. Corn— May. new u;i*, 1.351* 1.127. 1 r::ts. May. old 1.12s* 1.11*., 1 1:,", July, new 1.2os, 1.21 1.19s* l.wv, July, old __ 1 ,},3 September l.oo3, i ns* 1.053, 1 on-‘. Decemoer .85*2 >5'* .84*, .84*,->.1 Oats— Wav .491 a .49U .4712 47I2-*« July .44s, .44*, .44 44 September ,4osa .40*, .46*, 41b, December ,41s. .41’, ,4i>* .41 7 Soy beans— May .. _ . irs July - ^ Rye—• May . 1.11 1.11*i 1.12’j 1 12s, Jub, 1.03s* 1.01s* 1.02 1.02*4 September .ni*, .94 pas, Qo3' December .94s, ,94s, .94 914 Barley— Ma-V .76*2 Lard— May 11.35 11.37 11 27 31.12 iJJJX , 1L65 11.72 11.66 11.62 September 12 00 12.02 13 On 31 9n-2 October 12.10 12.15 12.05 12.05 Bellies— Mav ,5so July 15 90 15.90 15.87 15^87 t ljicago Cash Market. Cash wheat. No. 1, dark. hard. 1 3434: corn. No. 3. mixed, 1.39; No. 2, yellow. 1.40-41; No. 3, yellow, 1.38 40; No. 3. white. 1 38-39; oats. No. 2, white, 54' -55; No. 3, white. 53-54; soy beans. No. 3, yellow, 1.7534; bar ley feed. 70-85 nominal; malting, 1.00 28 nominal; timothy seed. 4.25-50 per hundredweight; clover seed, 26.00 32.00 per hundredweight. Winnipeg Price*. WINNIPEG May 7 —Gr*ln range today „ Previous WHEAT— High. Low. Close, close. May 1..].:«)».« 1 .an3* 1 , July _1 :11 ’p i.2a 1.21)', l.ai October _1.19’* 1.181, 1.18'4 1 : , OATS— May . .55 v* .54’, .6614 .5.V, SPIEGEL APRIL SALES CLIMB 21.4 PER CENT By the Associated Press. NEW YORK. May 7.—Spiegel, Inc., reported net sales in April of $4,609, 142, compared with $3,795,637 in the same 1936 month, a gain of 21.4 per 1 cent. For the first four months sales ag gregated $15,031,553, against $11,242, 801 in the like 1936 period, a gain of 33.6 per cent. The April volume was a new high record for that month, the report stated, and marked the fifty-first con secutive month in which sales in creased over the same month of the preceding year. The company does a mail order merchandising business and has head quarters at Chicago. Dictaphone Corp.—Declared a divi dend of $1.50 a share on common stock, payable June 1. Last previous payment was $1 a share on March 1, 1937. WELLINGTON FUND A Living Tru»t Fund Available in units of $10.00 a month and up. Single deposit certificates $300.00 and up. PROSPECTUS SENT ON REQUEST Wellington Foundation, Inc. William Canby Mar. Woodward Building National 3717