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IN QUIET TRADING 'J. S. Government Obliga tions Preserve Recent Gains in Narrow Range. Bond Averages 20 10 10 10 Rails. Indust. Util. F'an. Net change. —.1 —.1 +.1 +.3 Today, close 93.1 102.9 98.0 72.1 Prev. day_ 93.2 103.0 97.9 71.8 Month ago. 93.3 102.9 99.7 71.7 Year ago... 91.6 102.5 101.2 68.7 1937 high.. 99.0 104.4 102.8 74.7 1937 low— 92.9 102.4 97.8 70.5 1936 high „ 98.2 104.4 103.1 73.0 1936 low —_ 86.9 101.8 99.3 67.6 1932 low 45.8 40.0 64.6 42.2 1928 high—101.1 98.9 102.9 100.5 10 Low-Yield Bonds. Close_110.6 Prev. day- 110.5 Month ago 109.2 Year ago. 111.8 1937 high- 113.7 1937 low.. 108.4 1936 high- 113.5 1936 low.. 110.2 1928 high- 104.4 1932 low— 86.8 (Compiled by tne Associated Press.) 3s the Associated Press. NEW YORK. May 22. — Bonds shuffled unevenly today in a small market. ’ Various corporate loans which swung upward during the week with he rebound In stocks held gains intact. Buyers paid higher prices for Great Northern 4s. International Telephone is. Consolidated Edison 3‘/2s, Chesa peake & Ohio 412s, St. Paul 5s. Shell Union Oil 3’_.s. Northern Pacific 4s and New York Central 5s. A further quiet advance in the ■hare list evoked response in Youngs town Sheet & Tube 3'2s, which rose about 2>2 in the first hour. Ameri can Typefounders convertible 5s slid off l34 on a single transfer. Bonds of Alleghany Corp., Detroit Edison. National Dairy Products and Remington-Rand yielded fractions. United States Governments pre served their recent advance by moving ■dly within a small range. A few Treasuries were up 1-32 to 2-32. Home Owners' Loan Corp. 3s declined about A number of foreign groups again •'xhibited a good tone. There was interest in German, Italian, Japanese, Polish and Brazilian loans at gener ally higher prices. I. M. M. Discloses Loss of 82.261,973 In Twelve Months S? the Associated Press. NEW YORK. May 22. — Interna ional Mercantile Marine Co., leading hip operating concern in the trans atlantic and coastwise service, re orted for 1936 consolidated net loss f $2,261,973, against loss in 1935 of 1,370,824. The consolidated net operating re ult for the year before providing for isses on ships sold and depreciation •as a loss of $121,632. against profit f $25,945 for 1935 for the same ac ivities. P. A. S. Franklin, chairman, and 'ohn M. Franklin, president, said laritime labor disturbances caused onsiderable additional expense to the ’anama Pacific Lines. Washington Exchange SALES. hevy Chase Club 1st 4>4s—SI,000 at 104>2. AFTER CALL. '.eal Estate Mtge. & Guar, pfd.—100 at 5}4. apital Traction 5s—$1,000 at 89, S1.000 at 89, $500 at 8812, $1,000 at' 89 la. apital Transit Co.—10 at 10'4, 10 at 10'.4, 10 at 10*4, 10 at 10'4, 5 at 101*. apital Traction 5s—$1,000 at 893,. merican Security & Trust Co —9 at 295. Bid and Asked Prices. BONDS. PUBLIC UTILITY. _, , „ Bid. Asked. mer. Tel. & Tel. 4'.is_105 nacostia & Pot 5s _ __ 71' . 75 na. & Pot. Guar. 5s_107 . & P. Tel. of Va. 5s._100 aBital Traction R. R. 5s _ 80 OO lty &- Suburban 5s _ 77 SI eorgetown Gas 1st 5s_112 ot. Elec. Pow. :t'<s _ _ 100 fash. Gas 5s 1958 _105 JOS". 'ash. Gas 5s 1900 __ 115'2 fash. Rwy. & Elec, 4s_105 _ MISCELLANEOUS. hevy Chase Club 1st, 4'4s_ 104 u ol. Country Club 6!is __3 05 /. M. Cold Storage os_100 STOCKS. PUBLIC UTILITY, mer Tel. & Tel. ill).. __ ifiT'j apital Transit Co.. . _ I<| l. A: VV. Steamboat <6>_ no •ot. El. Pow. m ofd. (0) ..‘HO'/t ot. El. P. 5*ir« pf. (5.50)_*1 Id Id ()'/■> 'ash. Gas Lt. Co. Cl.60) 78 81 .'ash. Ry. A: El. com. i.,)6)_,715 /ash. Ry. & El. pfd. (5)..»109 _I BANK AND TRUST COMPANY. \mcr. Sec. & Tr. Co. (e8)__ 200 300 tank of Bethesda (H.75)_ 34 .'apital (4) . _ _ 140 ■ om. & Savings (10)_210 -lberty (4) __ -350 160 " .incoln (16.25) _200 fatl Sav. & Tr. _ __ 170 T. Georges Bk. & Tr. (.50) 17 21” tiggs (e8) . - 310 325 liggs pfd. (5) _101% /ashlngton (6)_ _ 130 •Vash. Loan & Tr. (e8)_ 290 300 " FIRE INSURANCE. Vmerican (6) _ 130 lorcoran (5) . _ _ _ 100 215 Bremen's (1.60) . 20 -•fational Union (.60)_ 16 _ TITLE INSURANCE. Columbia (.30) _ 12 15Va leal Estate (6) _170 _ MISCELLANEOUS. Carpel Corn. (2.00) . __ 20 25 -anston Monotype ( + 4)_ *90 95 .incoln Serv. com (tl.00)- 15 17Vi ..incoln Service pfd. (3.50)_ 49 51 •fergenthaler Lino. (2.00) . *46 48 "eoples Dr. St. com. (tl.OO) 50 54 ’eonles Dr. St. ofd. (6.50) 112 Teal Est. M.&G. pf. (**.70) 5% 6Vi Security Storage (5) __ _ 115 125 Ter. Ref. & Wh. Corp. (3) 60 Vdwd. & Loth. com. ( + 1.50) SO'/a 68 Afdwd. & li>th, pfd. (7)_112 125 •Ex-dividend. tPIus extras, (e) 2% extra, (f) 1%% extra. (H) 75c extra. (••) 25c paid June JO. 1936. 45c paid December 22. 1936. U. S. TREASURY NOTES. (Reported by Chas. D. Barney & Co.) Rate. Maturity. Bid. Offer. 3V« Sept. 16. 1937..1012-32 1014-33 2s* Feb. 1, 1038 .101 14-32 101 16-32 3 Mar. 15. 1038.. 102 1-32 102 3-32 2’« June 15. 1038 102 12-32 102 14-32 2'a Sept. 15, 1038 .102 8-32 102 10-32 I'/j Mar. 15. 1030 100 22-32 100 24-32 2l» June 15. 1030 .102 1-32 102.3-32 i3. Dec.. 15. 1939 100 14-32 100 16-32 IS Mar. 15. 1940 100 26-32 100 28-32 I'l June 15. 1040..100 11-32 100 13-32 t12 Dec. 15, 1040..100 4-32 100 6-32 IS Mar. 15. 1041..100 1-32 100 3-32 VS June 15. 1041.. 90 18-32 00 20-32 1 Vt Dec. 15, 1941.. 98 29-32 98 31-32 METAL MARKET. NEW YORX. May 22 UP).—Copper, steady; electrolytic spot and future. 14.00; export. 14.55. Tin barely steady; spot and nearby. 58.37S-50; future. 56.25 87Va. Other metals unchanged. RUBBER FUTURES. NEW YORK. May 22 (/Pi.—Crude rub ber futures closed very quiet. 2 to 7 lower; May. 21 03n: July. 21.13b; September, 21.28. Smoked ribbed spot. 21.00n. b—Bid. n—Nominal. BONDS ON N. Y. STOCK EXCHANGE By private wire direct to The Star. Approximate Transactions Today. U S Gov’t Bonds—, 440,000 Foreign Bonds_, 470,000 Domestic Bonds_ 2,940,000 TREASURY. All time shown below It daylight laving on which the Exchange li now operating. High. Low. Close. 2 Vis 1949-53_ 97.19 97.18 97.18 2»is 1945-47_ 102.7 102.7 102.7 2 Vi s 1951-54_ 99.24 99.22 99.24 2 Vis 1956-i 9_ 99.18 99.19 99.18 2 Is s 1955-60_ 100.20 100.17 100.20 33 1946-48_ 103.26 103.26 103.26 3s 1951-65_ 102.20 102.18 102.20 3 Vis 1946-49_ 104.11 104.11 104.11 3%s 1941-43 Mar 106.13 106.11 106.13 3 Vis 1946-56_ 109.16 109.16 109.16 4s 1944-54_ 111.3 111.3 111.3 i 4Vis-3Vis ’43-45- 106.1 106.1 106.1 4Vis 1947-52_115.12 115.9 115.11 HOME OWNERS' LOAN. 2Vis 1942-44_ 99.19 99.19 99.19 2 Vi s 1939-49_ 100.3 100.3 100.3 3s 1952_ 101.24 101.22 101.24 FOREIGN BONDS. High. Low. Close. Abitibi Pa&Pw Gs ’53 1004 1004 1004 Agr Mtg Bk Col 6s’48 24 24 24 Antioquia 7s’45 B_ 13 13 13 Argentine 6s’57 A_1014 1014 1014 Argentine 6s'59 June 994 994 994 Argentine 6s'69 Oct-. 1014 1014 1014 Argentine 6s’60 May. 1014 1014 1014 Argentine 6s'60 Sepc. 1014 1014 1014 A rgentine 6s '60 Oct_. 1014 1014 1014 Argentine 6s '61 Febr 1004 1004 1004 Argentine 6s'61 May. 1014 1014 1014 Australia 44s’56_1014 1014 1014 Australia 5s’55_ 107 107 107 Berlin Elec 6s'55_ 224 224 224 Brazil 64s'26-'57_1384 384 384 Brazil 64®’27-'57_ 384 384 384 Brazil 7s'52_- 404 404 404 Brazil Ss'41_ 48 474 474 Brisbane 5s'58_101 101 101 Budapest 6s '62- 324 324 324 Beu A 4 4-4%s'77 Pv. 774 774 774 Buenos A4 V’s-4^4s'75 804 804 804 Bulgaria 7%s '68- 28 27 28 Canada 24s'45_ 99 99 99 Candaa 34s '61_ 994 994 994 Canada 4s'60_ 1074 1074 1074 Canada 5s *52_1124 112 1124 Chile 6s'61 Jan_ 21 21 21 Chile 6s'61 Febr_ 21 21 21 Chile 6s'61 Sept_ 21 21 21 Chile 6s'63_ 21 204 21 Chile 7s'42_ 20% 204 204 Colombia 6s '61 Oct— 30 30 30 Col Mtg Bk 7s’46_ 224 224 224 Copenhagen 5s '52_ 984 984 984 Cuba 54s'45_ 624 624 624 Denmark 5%s '55_1014 1014 1014 Dominic 1st 54s'42— 794 794 794 Ger C Bk A 6s '38 _ 43 43 43 Ger Gov 54s'65 st— 31 31 31 Ger Rep 7s'49 stpd_ 34 34 34 Ger Rep 7s'49 un st_ 274 274 274 Greek Gov 6s'68_ 29 29 29 Hamburg St 6s'46.—. 204 204 204 Harp Min 6s '49 ww— 27 27 27 Helsingfors 6%S '60— 105 105 105 Italy 7s’51_ 87 87 87 Ital Crd P W 7s’47 B. 85 85 85 Japan 5%s’65_ 86 854 86 Japan 64s’54_ 984 984 984 Kreug&Toll 5s’59 cfs 494 494 494 Mexica 4s’54 asst_ 54 54 54 Milan 64s ’52_ 74 74 74 Minas Gers 6 4s’59_ 264 264 264 New So Wales 5s ’58 — 1024 1024 1024 Nord Ry 64s’50_ 1064 1064 1064 Norway 4s 63_ 98 974 98 Norway 6s’44_ 107 1064 1064 Nuremberg 6s'52- 22 22 22 Oriental Dev 6s’53_ 814 814 814 Oslo 4 4 s’55_ 99 99 99 Paris Orl Ry 54s’68_ 99 984 984 Paulista Ry 7s'42_ 90 894 90 Pernambuco 7s'47_ 234 234 234 Peru6s'60_ 194 194 194 Peru 6s'61_ 194 194 194 Poland 6s’40_ 51 51 51 Poland 7s’47_ 654 65 654 Prussia 6s 52_ 22 22 22 Prussia 64s’51_ 22 22 22 Queensland 7s’41__ 1104 1104 1104 Rio de Jan 64s ’53_ 25 244 244 Rio Gr do Sul 6s'68_ 254 254 254 Rio Gr do Sul 7s '67—. 264 264 264 Sao Paulo St 6s'68—_ 26 26 26 Sao Paulo St 7s 40_ 924 924 924 Sao Paulo St 8s'50- 314 314 314 Serbs 8s'62_ 284 28 28 Tokio 54s '61_ 77 77 77 Tokio E L. Ltd 6s'53- 78-4 784 784 l.'n Stl Wks 64s’51 A. 28 28 28 i Uruguay 6s'60_ 67 664 67 Uruguay 6s’64_ 664 664 664 Vienna 6s'52_ 98 97 97 Warsaw 7s'58_ 46 46 46 Westphal E P 6s '53— 23 23 23 Wuertemberg 7s'56— 23 23 23 Yokohoma 6s'61_ 834 834 834 DOMESTIC BONDS. Adams Express 4s'48 100% 100% 100% Alleg Corp 5s '44_ 100 99% 99% Alleg Corp 5s 49_ 92% 91% 92% Alleg: Corp 5s'50 stp.. 63% 62% 63% Am & For Pw 5s 2030. 77% 77% 77% Am Ice cv 5s'53_ 96 96 96 Am IGCh 5 %s '49_106% 106% 106% Amlntl6%s’49__ 105% 105% 105% AmT&T3y4s’61_ 98% 98% 98% Am T & T 3 >/4 s '66_ 98% 98 98 Am T&T4%s'39_ 105 105 105 AmT&T 5 % s ’ 4 3 113% 113 113% Am T F 2%s-5s'38-'50 147 147 147 Am Wat Wks 6s'75.. 104 103% 103% Anaconda deb 4%s'50 106 105% 106 Armour(Del)lst 4s’55 97% 97% 97% Armour (Del) 4s'57. 97% 97% 97% A T&S Fe adj 4s '95 st 105% 105 105% A T&S Fe gen 4S ’95_110% 110% 110% A T&S Fe 4%s '48_108% 108% 108% Atl Coast L 1st 4s '52. 102% 102% 102% Atl Coast Lclt 4s'52. 94 94 94 Atl C L un 4%s ’64___ 92% 91% 92% Atl Coast Line 5s'45. 103% 103% 103% Atlantic & D lst4s'48. 51% 51% 51% B & O 1st 4s '48_106% 106% 106% B&O4%s’60_ 76% 76% 76% B & O ref 5s '95 A._ 86% 86% 86% B&0 5s’96F_ 85 84% 85 B & O ref 5s 2000 D_ 85 85 85 B & O ref 6s ’95 C_ 98% 98 98 B & O PLE&W V4s’41 103% 103% 103% B & O Swn 5s '60_104% 103% 103% B&O Toledo 4s’59—. 92% 92% 92% Bell T of Pa 5s '48 B_ 118% 118% 118% Bell Tel of Pa 5s 60 C. 123% J23% 123% Beth Steel 3%s ’66_ 95% 95% 95% Beth Steel 4%s '60_103% 103% 103% Bos & Me 5s’55 _ 85 85 85 Bos N Y A L 4s ’55_ 24 24 24 Bot Con M 6%s ’34_ 28% 28% 28% Bot Con M 6%s'34 ct. 28 28 28 Bklyn Ed con 3%s’66 100% 100% 100% Bklyn Man T4%s '66 93 92 92 Bklyn Un El 5s’50.— 105% 105% 105% Bklyn Un Gas 5s ’50— 98 97% 98 Buff R&P con 4%s’57. 86% 86% 86% Bush Term con 5s’55. 62 61% 62 Canada So Es ’62 A... 114% 114 114 Can’dian NR 4%s'56. 113 113 113 Can'dian NR 4%s ’67. 111% 111% 111% Can'dian N Es’69 July 115% 115% 115% Can'dian NR5s’69 Oct 117% 117% 117% Can'dian N db 6%s'46 124% 124% 124% Can'dian P db 4s perp 93% 93% 93% Can’dian Pac 4%s'60 102V4 102% 102% Cent of Ga 1st 5s'45_. 80% 80% 80% Cent of Ga cn 5s'45 rg 30 29 29% Cent 111 E&G5s'51.. 100% 100% 100% Cent N England 4s’61. 68 68 68 Cent Pac 1st rf 4s ‘49. 107% 107% 107% Cent Pac 5s’60- 99% 99% 99% Cent Steel 8s '41-123% 123% 123% Cert’d deb 5%s ’48___ 85% 85% 85% Chesap C cv 5s’44__ 115% 115 115% Ches&O 3%s'96 D_ 97% 96% 96% Ches & 03%s'96E_ 97 97 97 C & O gen 4%s ’92_120 119 119 Chi & Alt ref 3s'49_ 55 55 55 Chi B&Q gen 4s'58_111 111 111 Chi & E 111 Es'61_ 39% 39% 39% Chi G L & C 5s ’37_100% 100% 100% Chi Grt West 4s'69_ 45 44% 45 Chi I&L gen 5s '66.... 17 17 17 CM&StP gn 4%s’89C. 61% 61% 61% CM&StP 5s'75_ 30% 30% 30% CM&StP&P adj5s2000 9% 9% 9% Chi&NW gen 3%s’87 37% 37% 37% ,Chi & NW 4%s '49__ 19 18% 19 Chi R I&Prf 4s '34... 22 21% 22 ChiRI&Prf 4s’34ctf. 18 18 18 Chi RI&P 4%s'52 ctf. 18 18 18 Chi R I&P 4%s '60 ... 12% 12% 12% Chi Un Sta 3 %s'51.1. 104 103% 104 Chi Un Sta 3%s '63 E 106% 106% 106% Chi & W In con 4s '52 103% 103% 103% Cin G&E3%s’66- 99% 99% 99% Cin Un Term 5s '57 C. 107% 107% 107% CCC&St L gen 48'93 99% 99 99 CCC&St L, rf 4%s'77E 94% 94% 94% CCC&St L rf Es 63 D 105% 105% 105% CCC&StLCW&M4s'91 96 94% 95 Clev El 111 3%s'65 . 108 108 108 Clev Un Ter 4%s'77. 101% 101% 101% Clev Un Ter 5s ’73 B . 105% 106% 105% Clsv Un Ter 6%s’72A 111 110% 111 High. Low. Close. Columbia G & E 5s *52 May_102% 102 102 Columbia G&E 5s'61- 100% 100 100 Colum Ry P&L 4s '65. 106 106 106 Cornel Credit 3%s *51. 98% 98% 98% Com Inv Tr 3 %s’51_ 102 102 102 Cons Coal Del 5s’60— 68% 68% 68% Cons Ed NY 3% s’46- 105% 105 105 Cons Ed N Y 3%s’56- 102% 102% 102% Consol Oil 3%s'51 —_ 101% 101 101% Consum Pwr 3%s’70. 102% 102 102% Cuba RR 1st 6s'52 —_ 61 &I 51 Cuba Northn 5%s ’42. 49% 49% 49% Cuba RR 7%s’36 ctfs. 62 62 62 Del & Hud ref 4s’43_. 90% 90% 90% Del P&L4%s’69_ 102 102 102 Den G & E 5s '51_ 108 108 108 Den & R G con 4s ’36_. 28 27% 28 Den & R G 4 %s '36 „ 27% 27% 27% Den&RGref 5s'78._ 24 23% 24 Det Edison 3%s’66-- 103% 103% 103% Det Edison 4%s'61 D 113V* 113% 113% Dul S S & At 5s *37- 56% 56% 56% Duquesne Lt 3%s'65. 104% 104% 104% Elec Auto Lite 4s’52- 108% 108% 108% ElP&SWref 5s’65__ 107 107 107 Erie gen 4s'96_ 83 82% 82% Erie ref 5s'67_ 80 79% 79% Erie ref 5s'75_ 79% 79 79% Gen Cable 5%s'47_104% 104% 104% Gen Am Inv os '52_101% 101% 101% Gen Mot Acc 3s '45_102% 102% 102% Gen Stl Cast 5%s'49. 82% 82% 82% Goodrich 4% s'66_ 99% 99% 99% Goodrich 6s'45_104% 104% 104% Goodyear T&R 6s'57_ 104% 104% 104% GrtNrRy 3%s’67 93% 93% 93% Great N Ry 4s’46 G— 141% 140 140% GrtNRrf 4%s'61 A. 110% 110 110% Grt N R gn 4%s '77 E 103% 103% 103% GrtN R gn 6s'73 C—. 112 112 112 Green Bay 6s'62 B — 12 11% 12 Gulf States Util 4s’66 101% 101% 101% Hoe (R) lstmtg'44_. 89% 89% 89% Hons B&T 1st f>s’37._ 100% 100% 100% Hudson Coal 5s ’52 . 48 47% 48 Hud & Man inc 5s'57. 29% 29% 29% Hud & Man ref 5s’57. 75% 75 75% 111 Bell Tel 3%s '70_104% 104% 104% 111 Cent 3%s’52_ 85% 85% 85% 111 Cent ref 4s ’55_ 85% 85% 85% 111 Cent 4s'66_ 74% 73% 74% 111 Steel deb 4%s’40.. 107 107 107 Inland Stl 3 s ’61 .. 104% 104% 104% Int R T 1st rf 6s’66.. 73% 73% 73% I R T 1st rf 5s’66 ctfs 71% 71% 71% Int R T 7s'32 ctfs . 73% 73% 73% Interlako Iron 4s ’47.. 98% 97% 98% Int Grt Nr adj 6s'52 A 13% 13% 13% Int Hydro Elec 6s'44. 74% 74 74 Int Mer Marine 6s'41. 79% 78% 78% Int Pap 1st 5s’47 A... 100% 100% 100% Int Pap ref 6s ’55_ 98% 98 98% Int T&T cv 4%s'39__. 82% 81% 82% Int T&T 4%s '52_ 67% 66% 67% Int T&T 5s ’65_ 73% 72% 73 Iowa Cent 5s'3S ctfs. 8 8 8 James F&C 4s ’39_._ 95% 94% 94% Kans C So 1st 3s'50.. 87 86% 87 Kans City So ref 5s'50 89 89 89 Kans C Ter 1st 4s '60 108% 108% 108% Kresge Found 3 %s'47 102 102 102 Laclede Gas 5s ’39_ 93%. 93% 93% Laclede G 5%s’53 C_. 60 59% 59% Laclede Gas 6s’42 A 52 51% 52 Lake S&M So 3%s’97 101% 101% 101% Lautaro Nit 1975s 33% 33 33 Loll C&N 4%s ’54 A.. 97 96% 97 Leh & N E RR 4s'65. 103 103 103 Leh Val Coal 5s'64—. 57% 57% 57% Leh Yal Har 5s ’54_101'* 101% 101'* Leh V P con 4s 2003.. 60% 60 60 Ligg & Myers 5s’51._ 122% 122% 122% Loew's 3%s ’46_ 98% 98% 98% Lori Hard 5s ’51_118 118 118 Lorillard 7s '44_127% 127% 127% La & Ark 5s'69_ 92% 92% 92% L & Nash 3 % s 2003_ 91% 91% 91% L & N unlf 4s '40_106% 106% 106% L&N 4%s 2003 C_104',. 104’* 104', L & N St L 3s '80_ 88% 88% 88% McKess&Rob 6%s’50. 104 1031* 103% MeC RRclt 4s'45 A.. 103% 103% 103% Me C RR gn 4%s’60 A 80 80 80 Manati Sug 7% s ‘4 2 58 58 58 Man S 1st 7%s'42ctfs 57% 57% 57% Manhat Ry 4s '90 ctfs 30% 30% 30% Met Ed 1st rf 4%s'68 106'* 106'* 106% Mil El R&L 5s ’61.. ._ 102”, 102% 102% Minn & St L 5s’34ctfs. 14% 14% 14% MStP&SSM cn 4s’38_ 24% 23% 24'., Mo K & T 4 %s ’78_ 72 71% 72 Mo Pac 4s’75_ 19% 19% 19% Mo Pac 5s ’65 A_ 42'* 42% 44'* Mo Pac 5s’77 F_ 42V* 41% 42% Mo Pac 5s'80 11_ 42% 42% 42% Mo Pacific 5s'81 I_ 42% 42 42% Monong Pub S 6s'65.. 103 103 103 | Mont Pwr 3%s '66_ 94% 94% 94% Morris & Es 3%s 2000 91 91 91 Morris&Essex 4 %s’55 88% 88% 88% Morris&Essex 5s’55_. 98% 98% 98% Nassau Elec 4s’51 gtd 50% 50 50 Natl Dairy 3%s’Slww 103% 103% 103% Nat RM4%s’26 asst. 6% 6 6%. Nat Ry Mex 4%s’S7as 4 4 4 Natl Steel 4s'65_ 106 106 106 New Jer P&L 4%s’60 106% 106% 106% New Orl P S Cs’52 A.. 97% 97% 97% New OrlPS5s'55B.. 96% 96%. 96% New Or Ter 1st 4s'53. 91% 91% 91% New Orl T&M 5s'56 C. 53 53 53 N Y Central 3%s '52.. 109% 109% 109% NY Central 3%s '97_96% 96% 96% NY Central 3 %s’46._ 102 101% 101% NY Cent con 4s'98_ 97% 97% 97% NY Cent rf 4%s 2013. 89% 89 89 NY C rf 4%s 2013 n._ 89 89 89 NY Cent rf 5s 2013... 97% 97% 97% NY Cent cv 6s ’44_104% 104% 104% NYC Mich C 3%s ’9S_ 89% 89% 89% NY Chi & St L 4s'46.. 104 104 104 NYC&St L 4%s ’78_ 87% 87% 87% NYC&St L 5 % s '74 A. 99 99 99 NY Edison 3%s’65 D. 99% 99% 99% NY NH & H 4s ’55_ 40 40 40 NY NH & H cv 6s’48. 46 45 46 NYO&Wref 4s’92 .. 23% 23% 23% NYQueens con3%s'65 103% 103% 103% NY Steam 5s ’56_106% 106% 106% NY Trap Rock 6s’46.. 84% 84% 84% NY W&B 4 % s ’ 4 6_ 16 15% 15% Niag Falls P3%s ’66. 103 102% 103 Niag Sh 5%s ’50_102% 102% 102% Norf & W 1st 4s’96_116% 116% 116% North Am Co 5s’61... 104% 103% 103% North Am Ed 5s ’57 A. 103% 103% 103% North Am Ed 5s ’69 C. 102% 102% 102% Nor’n Pac gen 3s 2047 73% 73% 73% Nor’n Pac 4s’97_104% 104% 104% Nor’n Pac 4%s 2047_98% 98 98 Nor’n Pac 5s 2047 D._ 103 103 103 ! Nor’n Pac 6s 2047_111 111 111 Ohio Edison 4s’65_105% 104% 104% Ont Pwr Niag 5s '43_110% 110% 110% Otis Steel 4 %s'62_ 89% 89% 89% Pac Gas & El 3%s '66. 97% 97% 97% PacG&E 3 % s ' 61_102% 102'% 102% Pac G & E 4s '64_105% 105% 105% Paramount Pic 6s'65. 100 100 100 Parmelee 6s '44_ 66% 66% 66% Penn Co 4s’63_102% 102% 102% Penn Dixie C 6s ’41_ 100 100 100 Penn P&L 4*/2s’81— 101 100% 100% Penn RR 3 % s w 1_109% 109% 109% Penn RR 3 % s '7 0 C_ 98% 98% 98% PennRR4%s’81 D— 106% 106% 106% PennRR4%s’84_106% 106% 106% Penn RRgn4%s'65 — 110 109% 109% Penn RR deb 4%s ’70. 102% 102 102% People GL&C 6s’43„ 117% 117% 117% Pere Marq 1st 5s'56— 101% 101% 101% Phila Co 5s'67_100% 100% 100% Phila & R C&I 5s ’73— 29% 29% 29% Phila &RC&I6S’49- 12% 12% 12% Philippine Ry 4s’37— 26% 25% 26% Pillsbury F M 6s'43— 107% 107% 107% PCC&St L 4 %s ’40 A- 108 108 108 PCC&St L 5s ’70 A_116% 116% 116% Pitts&W Va 4%s’59 B 91 91 91 Port Gen El 4%s’60- 60 59% 60 Postal Tel &C 5s’53- 28% 28 28 Pressed Stl Car 5s'51 94 94 94 Pure Oil 4*4s ‘50 ww_ 114% 113 114% Pure Oil 4%s '50 xw— 103% 103% 103% Purity Baking 5s’4S_ 98 98 98 Reading Jer C 4s’51— 96% 96% 96% Rem-Rand 4*4s'56ww 107% 107% 107% Republic Stl 4%s’60_ 162% 161 162% Republic Stl 4%s’56. 97% 97 97 Republic Stl 4%s'61. 97 96% 96% Republic Stl 6 %s’54. 118 118 118 Saguenay Pw 4*4s’66 100% 100% 100% St JoRyLT&P5s’37 97 97 97 St LIM&S R&G 4s'33. 79 79 79 St L-S Fran 4s ’60 A- 27% 27% 27% St L-S F 4s’50 A ctfs. 26 26 26 St L-S Fran 4%s’78- 26% 26% 26% St L-S F 4%s’78 cf st. 23% 23 23% St L S W 1st 4s '89_ 87 87 87 St L S W 1st ter 5s’52 54% 54% 54% San A & A Pass 4s ’43 101% 101% 101% San Diego CG&E4s’65 108% 108% 108% Seabd A L ref 4s’69— 15 15 15 Seabd A L 6s ’45 A.— 18% 18% 18% Seabd A L 6s’45 ctfs- 17% 17% 17% Seabd A-Fl 6s’35 A ct 8% 8% 8% Shell Un deb 3%s '51. 99% 99% 99% Skelly Oil 4s ’51_ 98% 98% 98% Socony Vav 3%s’60— 105 104% 104% South Bell T&T 5s’41 105% 105% 105% So Pac 3%s’46_ 99% 99% 99% So Pac col 4 s'49_ 95% 95% 95% So Pac ref 4s ’65_ 105 104% 105 So Pac 4%s ’68_ 89% 89% 89% So Pac 4 %s’81_ 88% 88% 88% So Pac Oreg 4%s ’77— 95% 95% 95% So Ry gen 4s ’66 A_ 79% 79% 79% So Ry 5s ’94_105% 105% 106% So Ry 6%s ’5t_102% 102 102 High. Low. Close. So UyM&O 4s’38_ 93% 93% 93'% S W Bell Tel 3%s'64. 105 105 105 Stand Oil N J 3s '61 __ 97% 97% 97% Studebaker cv 6s'45.. 120% 120% 120% Swift* Co 3%s'50_106% 105% 106% Tenn El Pw 6s '47 A-. 90 90 90 Term As St L 4s '53_108% 108% 108% Term Asso con 6s'44. 115% 116% 115% Texarkana 6%s ‘50_105% 105% 105% Texas Corp 3%s ’51__ 103% 102% 103% Texas* Pac 5s'79 C-. 103V* 103% 103% Third Av ref 4s'60... 56 56 56 Third A ad in ex 5s'66 26 25% 25% Tide Wat Oil 3%s’52. 99% 99% 99% Un El L & P Gs '37_105% 105% 105% UnElU*P6%s'64-. 102% 102% 102% Union Pac 1st 4s ’47__ 113% 113% 113% Un P 1st rf Gs 2008 tr. 108 108 108 Un Pac 1st rf Gs 2008. 116% 115% 115% United Drug Gs '53_ 97 97 97 U S Rubber Gs '47_ 107 106% 106% Utah L&T 63*44 A._ 98 97% 98 Utah P & L Gs '44_ 100 99% 99% Util P& E Gs '69 ww_. 49% 49% 49% Util P & E 5%s '47_ 50% 50% 50V* Ver Stiff 1st 7s'42 ctfs 24% 24% 24% Va Ry 1st 3%s'66 A„ 104'% 104% 104% Wabash 1st Gs ’39_ 94% 94% 94% Wabash Gs’76 B_ 36% 36% 36% Wabash 6',is'75_ 37 37 37 Walworth 4s’65_ 80% 80 80 Warner Bros cv 6s'39 95% 95% 95% Warner-tjuin 6s '39_ 45% 45% 45'% Wash WP 1st 5s '39.. 107% 107% 107% Wost'n Md 1st 4s’62.. 104% 104 104 Westn Md 6%s’77_ 107 107 107 Westn UnGs’51_100% 100% 100% West’n Un Gs’60_100% 99% 100% Wheel Steel 4%s ’63.. 99% 99% 99% W Sp Stl 1st 7s'35 ct. 35% 35% 35% W Sp Stl con 7s’35 ct. 36 35% 36 Wilson & Co 4s ’55_ 100 100 100 Wis CS&DT 4s'36 cfs 17 17 17 Y'nftstn S&T 3%s’51. 139 135 138 V’nustn S&T 4s '61_101% 101 101 CURB BONDS DOMESTIC BONDS. High. Low. Close. Ala Power 5s '10 A . ini', no1* till’/, Ala Power 5s '51 . . 115 Ii5 H5 Ala Power 5s '08 . .Mi 80 80 Alum Co 5s '52 107 1053, 107 Am GAE 5s 3038 . 1003, 1O03, 1O03, Am Pal Os 2010 _ 10I1, HO', HO1, Aimalach E P 5s 50 . loo7, loo3-, loo’s Ark-La Gas 4s '51 1110', HO3, HI)3, Ark PAL 5s '50 . H83» H73, H73, As El Ind 4 1 ,s 53 5o3, 503, SO3, As G A E 4'as '41).. 44'a 4U3, 44 As G A E 5s '08 . 47' a 40', 47', As GAE 5' as inv ct . 70 70 70 As T A T 5'as '55 A 84 ' a 84'a 84' a Baldn Lo Os 'UK xw 1MD, 180', IKo'a Baldn L Os 'UK xw stp 180", iTo'a Ikii3, Bell Tel C 5s '57 B 11K7, Us', 118’, Birm El 1'as 08 84', 84‘, 843, Can No Pw 5s '53 A lou3, lou3, lou3. Can Pac os '42 J083, iok>, iok3, Caro Pw A Lt os 50 l'!l‘» nil's nil's Cent UPS 5s Y>0 E .. 10U>, 103'., lou'a Ceil I1PS 4'aJ '07 F !'7 H7 117 Cent UPS 4'aS '81 H 1'43, H43, H43, Central Pw 5s '57 D 80 80 80 Cent Pw A Lt 5s '50 92s, H23a H23, Cent St El 5'as '54 SU'a 5U 53 Ceil St PAL 5',s 53 50', 653» 50', Chi Dl El 4 1 as '70 A 105', 105', 105'., Chi Rys 5s "-’7 cod . . 08', 08'a 08'. Cm Str R 5'aS '52 A HO 1)0 HO Cities Svc 5s 50 . _ 71 Oil's oil ', Clt S PAL 5'aS '52 07'a 07 07Va Clt S PAL 5'as '411 __ OK 07*, 08 Comw Edis 5s '53 A 1123a 112 112 Comw Ed 5s '54 B .112 113 112 Comw Ed 4 'is '50 C_111 111 111 Comw Ed 4s '81 F loti', loo loo1. Com Pb Si 5s 00 A 753, 753, 75a, Comw Sb 5'as '48 A . lou'a lou', lou', Comnty PAL 5s 57 753, 753< 753, Corn Ct A E 5s '58 A 85', 84'a 8.5', Del El Pw 5'.as '50 102 1, 1II'" , 10"', Detrot c G Os '47 A 100', loo'a lou'a East G A E 4s 50 A 853a 85'a 85'a El Pw A Lt 5s 2"U0 823, 823, 8"3, E! Pas El 5s '50 A 102', 102', 10'", Elm W L A* R R 5s 56 102', 102', lo-", Emp OAR 5'as 43.. 89 »» KH'a 805a Florida PAL 5s ’.">4 HO KO5, 8!)3, Gary EaG 5s '44 stp xw H83, H8', ;is3, Gatineau Pw 5s '50 _ lol 101 101 Gen Pb U 0' as '56 A 84 KU'i KU'i Gen Ryn 6s '48 A Ltd 75 75 75 Georgia Pw 5s '07 . HU3* HU3, HU', Georgia P A L 5s '78 ._ 74 7U7, 74 Glen Alden Cl 4s 05 80 80 mi Grand Tr W 4s '50 . ilH'a HH lit) Guard Inv 5s 48 A 54'a 54', 54', Hack Wat 5s '77 A lou', lou', lou'. Hall (WFl Os '47 stp A HH3, HO3, OH3, Ul Pw A L Os '53 A lOU7, 103', lou7, 111 Pw A' L 5‘as 54 B loo3, loo3, loo3, 111 Pw A Lt 5' ,s '57.. _ 11.4 (15 115 Indiana Ser 5s 50 . 08', 08', 08', Indiana Ser 5s '03 A 08', 08', OH', Indnap PAL 5s '57 A loo loo loo Inti Pw Sec 7s 52 F ok t>8 08 Interst Pw 5s '57 . 57', 57', 5?'i Interst Pw os '53 - 4.3'a 43', 43'2 Interst P S 4'as '58 F_. 757s 75', 757, Iowa-N LAP 5s '57 A . 102 101', l"i', Jer C PAL 4‘,s '01 c I043, 1 < 14 *, 104'-, Jer C PAL 5s '41 B . lo47, lot7, I047, Kan Pw Co 5s '47 A 102', 102', lo2'« Kentucky U 5s 'OH I b73, 873, 873, Kimberly C 5s '43 A lou lou lou' Lehigh P S Os 2026 A. 102 lol5, 102 Libby MrN & L os '42. 104’, 1o478 l'H7, La Pw A Lt 5s '57 ._ 105’, 1057, 1057, Mengel Co 4' ,s '47 _ . 11 I ' a 11 O7, 111 ' , Minn PAL 4'as '7b OK5, OK5, ns5. Miss Pow 5s 55 . 71", 711 79 Miss Pw A Lt 5s '57 K55, 84'a 84'a Nevad Cal El 5s '50 88'.. 87', 87', New Ams Gas 5s '48 _ 11 7', 11 7'2 117'A New E GAE 5s 4 7 073, 07", 671, New E GAE 5s '48 07’, 073, 07*. New E Pw 5s '48 _ Ho', HO' a Hil'a New E Pw 5'as '54 _ HU'a HU', HU', New Or 5s 42 stpd 87', 87', 87', New Or PS Os '49 A . 7H3, 7H1, Til1, NY P A Lt 4 >2s 07 _ 1053a 1053a 1053, N Y S EAG 4' ,s '80. loo7, loo', 100', Nor A L A P 5',s '50 HU HU HU No Con U 5'as '48 A 40', 48 4 9', No Ind G A E Os '52 loT5, 1 075, I075. No Ind P S 5s 06 C_102', 102', In"', Norw El Os 45 stp 104'a 104 lo4', Ohio Pub S 5s '54 D . 105', 1051, lo5', Okla N G 5s '40. loo HO3, nil3, Pac G A E Os '41 B _ 110', 110', 110', Pac P A L 5s -55 _ 747, 743, 747J Palmer C La Os 38 . 101', 101', 101', Penn C L A P 4'as 77 <14 H4 <14 Penn C P A L 5s '711 lol ', 101 101 Penn El 4s '7 1 F ._ Ho3, HO HO Penn O E Os '5(1 A _ 103', 103 lo" Peop L A P 5s '7H ... 18', 18', 18', Phtla El P 5'is '72_110 110 no ' Pitts Steel Os '48 _lou3, 1003, lou3, Portland G A C 5s '40 74 74 74 Pw Cp C 41 as 511 B Hi) HH 99 Pub S No 111 5s '50 . 110',, 110'i 1 10', Pllb S N I 4'aS '.81 F lOU'a 10UI, 103', Pug S PAL 5' as '411 A 80', SO SO Pug S PAL 6s '5" c 80 79 711 Pug S PAL 4'is '50 D 74 74 74 Quebec P C 5s '08 A 1043, 104•’5, 1043, San An PAS 5s '58 B. 105V, ms 105 Scrlpps 51 as '43 . . 1027a 1027a 10"7a Shw WAP 4'is '07 A.. 102', 102', l(f", Shw WAP 4 ' ,s '70 D 1025a 1025', 1025a S E PAL Os 2025 A . 97', 963, 063, Sou Cal Ed .V,s '45_ . 1 057, 1 057, 1 057a Sou Cal E 4s oo . _ jo2'-» 102',, 103'a Std GAE Os '35 mat _ 72', 72', 72', Std GAE cv Os '35 cod. 70'a 7() 70' Std GAE cv Os ’35 mat. 71‘a 711', 71'i Std GAE Os '35 cod 70 70 70 Std GAE Os '51- OK7, 08OK7, Std GAE Os '00 _ 0001)',5 09'i Stand Inv 5'is ’U9__ 98 98 98 Stand PAL Os '57_■ 07'a 057, 07'/, Starret Corp 6s '50_ 38'2 38'i US', Super of 11 4Vis '08_100', 100', 100', Tex PAL 5s '50_105'/, 105', 105'-, Toledo Edis 5s '02 . . 107% 1071, 1077, Twin C RT 5'is '52 A. 80 80 80 Unit Lt A Pw 6s '75 74'A 74'A 74'i Unit Lt A Pw ti'is '74 77 77 77 Unit LARD 5'.is '52 82 82 82 Unit L A R M Os '73 A’ 73 73 73 Waldorf A 5s '54_ 313« 31'A 31'A Waldorf A 7s '54 __ Ul3, Ul3-» 31 w. Wash Gas Lt 5s '58 _ 105'/, 105’, 105 V, Wash W & P 5s '60._ 105 105 105 West News U 6s ’44 543i 53V, 53'A West T Ut 5s '57 A_ 943A 94V, SI43. Wls-Mln L A P 5s '44 __ 106V, 1063, 10H3, Yadkin Riv P 6s '41.. 107 107 107 FOREIGN BONDS. Com Prv B 5%s 'a?_fio 50 50 Erco M El 0%s '53 A__ 00% 00 on Ger Con Mun Os '47__ 21 21 ‘>1 Guam * W 6s '58 A _ 52% 5314 Maranhao Br 7s '50_25% "5% Parana Braz 7s '50._ 24% ->41/, Rio de Jan 0%s '50 21 % 21% 21% Russian 5%s '21 mat__ 1% 1% 114 Sante F A 4s '45 st__ 70 75 70^ Santiag Chil 7s '40 10% ] 5% 30% Sttnnes Hug 4s n '40 st 40% 40 40% ww—With warrants, xw—Without war rants. n—New. st (stpl—Stamped. ^Negotiability impaired by maturity, tCompanies reported in receivership. GENERAL MOTORS SALES ABROAD GAIN SHARPLY Bj the Associated Press. NEW YORK, May 22—Sales of General Motors cars and trucks to dealers in the overseas markets during April totaled 34,646 units, an increase of 18 per cent over the volume in April of last year. In the first four months of 1937, sales of 121,303 represented a new high volume for that period, and an Increase of 4.9 per cent over the volume in the first four months of 1936. Sor the 12 months through April, 1937, sales totaled 330,400 units —an increase of 8 per cent over the volume in the 12 months ended Apnl 30, 1936. These figures include the products of the corporation’s American, Canadian, English and German fac tories sold outside of the United States and Canada. FEDERAL LAND BANKS NEW YORK, May 22 (JP).—Federal Land Bank bonds: Bid. Asked. 4%s Nov.. 1058-38_103% 104% ♦ %s May. 1057-37_101% 102 4s May. 1958-38_102% 103% 4s Nov.. 1057-37_101% 101% 4s July. 1046-44_ 100 109% 3%s May. 1055-45_101% 102% 3s July. 1055-45_100% 100% 3s Jan.. 1056-46_100% 100% 31 May. 1956-48_100% 100% CURB LIST EDGES TO HIGHER LEVEES Most Changes Fractional, but Few Issues Swing Point or More. Bs the Associated Press. NEW YORK, May 22.—Prices lifted a little in the curb market today with quiet dealing restricting swings. Although most shares moved frac tionally, a few swung a point or more late in the morning. Fire Association of Philadelphia ran up more than 2 points, Great Atlantic & Pacific near ly 2 and Bliss <fc Laughlln and Con solidated Aircraft about a point each. Gulf Oil and Pittsburgh Plate Glass gained major fractions. Newmont Mining declined about 11 '2 and minor setbacks were shown by Northern States Power "A” and Mc Williams Dredging. COTTON FOLLOWS UNEVEN COURSE Trade Marks Time Pending Clearer View of Crops and Farm Legislation. By the Associated Pres3. NEW YORK, May 22—Cotton moved irregularly this week in quiet trading. Prices were influenced principally by outside markets, while the trade marked time pending a clearer view of the crop outlook and farm legislation. Moderate rallies encountered scat tered selling as weather conditions in the cotton belt became favorable, and the appearance of July liquidation had a depressing influence on near months. October contracts, which had sold off from 12.64 to 12.44 and then rallied to 12.85, closed yesterday at 12.65, compared with 12.49 last week. Aside from near-month liquidation, offerings were not plentiful and the market reflected a soldout condition. Absence of rainfall over the cotton belt, following recent moisture relief in the West, accounted for good condi tions for preparations and crop prog ress. although there were some com plaints of cool night temperatures. Sentiment was adversely influenced by a poor demand for spot cotton at a time when mills are well supplied with raw requirements, and demand for cotton goods has continued small. The shutdown at some New England fine cotton spinning mills led to con jecture over the possibility of mill cur tailment to avoid overproduction. CHICAGO GRAIN Ey the Associated Press. CHICAGO, May 22.—Wheat price gains of more than a cent a bushel based on strength of foreign markets were followed today by flurried frac tional reactions influenced partly by reports of crop life saving rains in some important wheat producing areas Southwest. The market maintained part of its advance, however. May corn rose almost 2 cents a bushel to within *, of the 12-year peak. Wheat closed '8 lower to 1>, higher, compared with yesterday's finish. May, 1.28',; July, l.21*2-58, and com was ’4-34 higher; May. 1.35',; July, new, 1.2258-78. Oats gained ’4->2. w WHEAT— Open. Hizh. Low. Close May 1 2!i<, 1 2J*». 1.27*4 1 28*4 July .... 1.20*4 1.21’, 1.2U>, 1.21'z-*, Sch- - - l.l»'z 1.20*2 1.1!", 1 20*-,-*4 Dec .1.21 1.21*4 1.20*, 1 21*, CORN— May. new 1 111', 1.35s, 1.34 1 :i.V, May. old 1.33 1 34 1 33 l 34 July, new l.ll**, i.22’« 1.1 1 .22*,-’, July, old 1 •> j 3 SeP '.... 1.0!"2 1.12*. l.n<l*8 Lie.,-*, Dec -81'2 .8.1 ,81*2 82*,-’, OATS— May --. .51’2 .SI*, .51*, .si*, £*ly - - U'2 44’, 44 12 44’, See .M!*’» .30*4 .31" 4 311*4 Dec 4"*a .40'2 ,4(", .40', SOY BEANS— May 1.74 i -4 July . .1.72’* . 17*'2 RYE— M*y 118 MS M7 M7*i July - 1.07 1.07'2 l.Ofi 1 07 Sep. - .02*, .03', J12', 03', Dec 04 .04', .03*, .03', BARLEY— May _ _ .74 J-ARD May -12.30 12 30 12.25 10 30 July __ 12.45 12.50 12.40 12 50 Sep. ... 12.72 12.80 12.70 l0 so Dp' 12.80 12.00 12.75 12.00 BELLIES — M«v 10.05 July 10.37 Chicago Cash Market. Cash wheat. No. 2. hard, l.32'4. Corn. No. 2. mixed. 1.37'2-38: No. 2, yellow, 1.36-39; No. 3. yellow, 1.34 37'4; No. 2, white, 1 361 --37. Oats, --o. 1, white, 531/4; No. 2, white. 53 5312: No. 3, white, 51 *-2. Rye, No. 1, 1-17!4. Soy beans. No. 2, yellow! 1.73i2. Barley. No. 2, 76; feed, 65-75; malting, 1.00-20. Timothy seed, 4.25 50. Clover seed, 23.00-30 00. TWIN COACH ORDERS VALUED AT $600,000 Ey the Associated Press. NEW YORK, May 22.—Twin Coach Co. reported the receipt of orders in the last month for 59 new busses valued at $600,000. They include 15 units for Motor Transit Co. of Los Angeles, 11 for Carolina Power & Light Co.. Asheville, N. C„ and 33 for Chicago Surface Lines. The company is located at Kent, Ohio. CHICAGO LIVE STOCK. n™.HSn?'n,M.,rl;:2, m (United States Department of Agriculture).—Hors. 3.500 vArvfJL? f1 '4(v!°. “*rect; nominally steady; £;w„t^?sh hogs on sale; one good load good to choice, around 215 pounds. 11.85; nominal top, 12.00; compared week ago, MhRher: shippers took none; estimated holdover. 1.000. P*rMovleioc4t00i culve^ “,one- Compared Friday last week. Good to choice fed steers under pressure all week, but closed active and steady common and medium grades scarce strong: good grades pre dominated; strictly prime offerings absent largely steer and yearling run; stocker trade slow: fed heifers strong to 25 higher, common and medium grades up most; cows acutely scarce, with readjust ment from fed to grass basis noticeable: market steady to 25 higher: bulls strong vealers 50 to 1.00 higher; extreme top fed steers, 16.00. little above 14.00; too yearlings. 13.75; mixed yearlings. 12 75; 0e75al 3y00rllnB5‘ 11,75: m°St fed Steers Sheep, 9,500, Including 8,000 directs; for week ending Friday, 33,400 directs. Compared Friday last week: Fat lambs closing around 50 lower: slaughter sheep 2o to 50 down. Spring lambs steady to weak; week's top clipped lambs. 11.50 to small killers early, closing top 10.75 weeks bulk 0.50al 1.25: scattered loads wooled lambs, 11.00al2.60. small lots over 10.50al3.00 range: California Spring lambs scaling 07-73 pounds. 10.60al2.75. according to grade and weight: scattered small lots natives mostly 12.00al3 50; week s extreme top Springers. 13.75, paid for only a few head to small killers: week’s top 104-pound shorn California ewes, 6.60; closing top shorn offerings, 6.00; bulk. 4.00a5.25. U. S. TREASURY POSITION. By the Associated Press. The position of the Treasury on May 20: Receipts, $16,544,450,49; expenditures. $24,702,942.46; balance. $1,729,748. 131.87: customs receipts for the month. $32,074,270.09. Receipts for the fiscal year (since July 11. $4,337,873,593.27; expenditures. $6. 865.028.737.47. Including $2,520,144, 123.14 of emergency expenditures; excess of expenditures. $2,327,355,144.20: gross debt. $35,160,509,988.12. a decrease of $397,996.23 under the previous day: gold assets. $11,927,640,314.23. including $696. 323.629.22 of Inactive geld. NEW YORK CURB MARKET By private wire direct to the Star. All time shown below lb daylight saying on which the Exchange Is now operating. block ana b.k.— Dividend Rate. Add 00. High. Lew. Close. Alnsw'th M C b25o 2 154 154 154 Air Device Corp_ 1 34 84 34 AlaGrtSou (13)_. 100 . 774 77 4 774 AlaPwrpf(S)_20a 61 60 61 Alurn’n Co Of Am. 60s 143 148 148 Alum (Am) pf (6) 100* 118 118 118 Aluminum Ltd... 300a 115 113 115 Am Airlines. Ino 2 22 214 22 Am Box B'd(b45c) 2 21 21 21 Am Centrifugal... 18 34 34 84 Am CltPAL B a20o 10 8 34 4 AmCynam Bt60e 8 82 814 314 Am Eqlt (a22 Vic). 2 5 6 6 Am Fork & H (tl) 1 194 194 194 Am GAB (1.401_ 4 82 4 32 4 324 Am GAB pf (6)... 160a 1094 1094 1094 Am Gen C’p (a50c) 1 10 10 10 Am Gen C pf (2).. 200. 334 38 4 334 Am MfgCo(al).. 60 . 604 50 50 Am Maracaibo ... 6 14 14 14 Am Pneu Service.. 2 1 1 1 Am Superpower.. 9 14 14 14 Am Superpwr pf_« 3 324 324 324 Angoatura (t20c). £17 7 7 Arcturua Radio T. f 6 14 14 14 Ark Nat Gaa_f 8 84 8 8 Ark Nat G cu pf_r 1 84 84 84 Ark Nat Gaa (A).. 77 84 74 »4 Art Met W (80c).. 1 124 124 124 Ashland OAR T40o 7 64 64 64 AssoGAE(A)_ 10 24 24 24 AssoO A E 85 Df.. 2 23 4 23 4 28 4 Atl Coast FIs b35o 3 84 84 84 Atlas Corp war_ 13 24 24 24 Austin Silver_ 4 2 2 2 Auto Products_ 3 74 74 74 Auto Vot Mch 50e. 3 104 104 104 Avery (B F) & Son 1*9 9 Bsrdstown Dlst_ 1 34 34 34 Barium Stain Stl _. 6 54 64 64 Be-aunit M (b50c). i 1 174 174 174 Beech Aircraft_ . 1 34 34 34 Bellanca Aircraft. 1 2 6 6 6 Berkey&Gay F Co. 4 24 24 24 Berk&GF pur war 6 14 14 14 Bickfords Inc 1.20 2 14 14 14 Bliss Co < E W ) . 2 154 154 164 Bliss & Laugh(2). 2 38 4 374 384 Blue Ridge (blDc) 8 3 3 3 Bower Roll B (2). 1 29 29 29 Bowmn-Btlt 2d Df. 1 44 44 44 Brazil TL&P b'JOc. 3 24 24 24 Breeze C Inc a75c. 4 104 10 104 Brill Corp (A)_ 1 11 11 II Brill Corp pf_ 200. 654 55 55 Brown Co pf_ 200. 73 72 73 Buff N&E pf 1.60. 1 244 244 244 Burma Ltd bl6'/»c 5 44 44 44 Cables&W'irel’ss B 2 4 4 4 Can Hydr E 1st p£ 60s 77 77 77 Can Marconi ... 6 14 14 14 Carib Synd (b50c). 2 14 1** 14 Carrier Corp_ 8 [04 604 604 Catlln Corp (a<0c) 6 74 74 74 Celluloid 1st pf b2 50. 101 100 101 Cent Slates Elec . 4 14 14 14 Cent St El 6% pf. 200. 144 144 144 Centrlf Pipe T40c. 1 64 64 64 Cities Service_ 65 8.4 34 34 Cities Service pf.. 4 504 50 604 City Auto S< t6uc) 1 10 10 10 Claude Neon Lts . 2 24 24 24 Clev E II Ium(t2). 2 43 43 41 Columb O&G b20c. 6 74 74 74 Comwlth Edls T4. 1 109 109 109 Cons Aircraft_ 4 245$ 245$ 245$ ! Consol Copper_ 60 105$ 95$ 105$ | Consol Steel Corp. 6 107$ 105$ 107$ I Cooper Bessemer. 1 255$ 255$ 255$ ' Copper Range 3 11*4 1154 117* j Copperweld T120. 1 335$ 335$ 335$ Cord Corp_ 7 354 34 34 Coeden OH Me (d) 15 15$ ]»$ P, Courtl'ds b25 l-10c 1 1354 134 134 Creole Petrol t50c. 18 35 344 34** Crocker-Wh alOc. 6 14 13', 14 Crowley Milner_ 17 7 7 Crown Cent P a6c. 12 2 2 Crown Dr (b20c)_. 3 354 3*4 34 Cusl Mex Mining.. 19 4 5$ .4 Darby Petr (60c). 1 135$ 135$ 1354 j Detroit Gasket tl. 1 175* 17‘* 17**1 Detroit Gr I new.. 2 35$ 34 34 Det (Mich) Stove. 1 55$ 554 55$ Keg Pit Lead blOc. 2 1954 1954 194 East’n G&P Asso. 1 654 65* 64 Elec Bond & Share 44 175$ 17 175$ Elec B ft S Df (6) 1 7054 7 054 7 0'* El Pw As A (bloc) 2 65$ 554 65* Elec Shareholding 1 37$ 37, 34 Equity Corp(a25c) 8 254 2 2 Eyana Wall Lead. 10 15$ 14$ 1*4 Fairchild Av «15c 1 654 6*4 64 FalstaiT Br Cl 5$) 19 9 9 Ferro Enam b~5c.. 1 39 39 89 Fldelio Brewery . 3 5* *4 *4 Fire As(Phila.)t2. 20s 68 68 68 Fisk Rubber ... 6 144 14 14 Ford Ltd (b21c) __ 1 6>* 65* 64 Froedt G&M(20c). . 3 12 11** 12 Gen Alloys _ 14 4 4 Gen Firepr'f b25c. 2 195* 19 195* Gen invest Corp_ 1 14 14 14 Gen Tire ft Rub .. 5 30 295$ 297* Gen T&R pf A (6). 10s 105 105 105 Glen Alden C (tl) 4 11*4 11’$ 115$ Goldfield Consol.. 3 *4 54 4 Gorham Mfvtctl 2 244 244 244 Grand Natl Films. 12 25$ 25* 25* Gray Tel PS (1).. 6 18 17 17 Grt A&P T n v t6. 150, 93 92 93 Greenfield T ft D 2 154 1454 154 Gulf Oil (Pa) b25o 6 56 654 56 Hat Corp (B) 80c. 1 114 114 114 Hazeltine (b75c)_. 1 165$ 164 165$ Hearn Dep S bl.65 1 144 144 144 Hecla Mining b45o 2 177$ 17*4 17** Hewitt Rub boOc.. 3 1654 164 165$ Heyden Ch (t2 )_ 1 41 41 41 Hires (C E)AC> — 60s 43 4 43 4 434 Hollinger G 750c -. 6 115$ 114 114 Horn & Hardart t2 50s 364 35 4 355* Hud Bay Min b75c 8 314 305$ 314 Huyler's pf (.cl) ... 60s 164 164 164 Illinois Iowa Pow. 2 85* 84 84 111 Iowa Pw pf 24 3 305* 304 30?* 111 Iowa Pw d ctfs. 1 114 114 114 Illinois Zinc b25c. 50s 305$ 804 304 Imp Oil Ltd tsoc.. 4 214 215* 214 I T GtB&l b84%c. 1 384 384 384 Ind Pipe Line b30c 3 115$ 115$ 115$ Indiana Svc 6%pt- 10s 24 24 24 Ina Co of No A t2. 60« 655$ 65*$ 655$ inti Hy El S cv pf. 2 284 28 28 IntlPetrolm tlH- 3 364 364 364 Inti Radio (b25c). 1 15 15 15 Inti Util (A)_ 1 1*4 184 184 Inti Vltamln(BOc) 3 64 64 64 Interst P(Del)pf. 10s 95* St* 9«* Iron Fire vtc 1.20. 100s 207$ 205* 205* Irving Air Ch (1). 1 12 12 12 Jeanette Glss a60o 1 85$ 85$ 85$ JerCen P&Lpf 6 54 2 5 s 774 774 774 Jones&Laugh StI. 1 103 103 103 Kingston Prod 40o 3 65$ 64 65$ Kirby Petrol (20c) 26 65* 64 65* Lake Sh M (to— 7 637$ 63 4 535* Lakey Fy ft Mach. 4 6 4 65* 67$ Leh Coal &N 80c— 8 94 9 9 Leonard Oil_- 3 14 14 14 Lion Oil Ref (D— 4 23 4 235* 237$ Lockheed Aircraft 8 124 124 12>* Long 1 L pf A(7) 10s 80 80 80 Long tsl Lt nf B 6 25s 65** 655* 655* Louis’s Land 40c— 1 124 124 124 Lucky Tiger tl2c. 2 14 14 14 McCord Rad (B)__ 8 7*4 74 7*4 McWilliams D (tz 4 244 24 244 Mangel Store*- 1 74 74 74 Marlon Steam Sh_. 1 134 184 134 Massey Harris 1 13 13 13 Meraph P&I> pf (7) 26s 72 72 72 Merritt Chap A S-. 1 64 64 64 Mesabl Iron_ 1 *4 4 4 Mex-Ohlo Oil_ 2 24 24 24 Mich Bumper_ 8 24 24 24 Mich Gas & Oil_t 1 84 84 84 Mich Sugar.— 3 14 14 14 Midwest Oil (tl)— 1 10 10 10 Molybdenum Corn 1 94 9 9 Monarch M T (tl) 2 24 24 24 Mount CCp a 21c.. 6 124 124 *124 Mount Prod i60c). 16 6 6 Mount St T&T<8). 20s 141 111 141 Nat Baking Co_ 4 14 13 14 Nat Bellas Hess.-. 4 2 14 2 Nat Container (1) 10 13 124 13 Nat Leather .16 4 4 4 Natl Oil Pro t60o- 4 44 434 44 Nat Rub Mch a20o 2 144 14 14 Nat Sugar N J (2) 6 254 25 254 Natl Transit b45c- 1 12 12 12 Nat Onion Radio.. 1 24 24 24 Neh1 Corp _ 1 644 644 644 Nestle Lc-Mur_ 1 14 1.4 14 New Jer Zinc <t2) 100s 80 80 80 Newmont Min (3). 5 106 101 104 N T Pw&Lt pf (6) 90s 1004 99 99 N Y Tel pf (6H).. 176» 1114 1114 1114 N T Water Svc pf. 10* 32 82 32 Niag Hud Pwr new 12 124 12*4 12*4 Niles-Bement (2)- 2 444 424 42*4 North Am L*P - 3 34 3 3 North AmLAP pf. 100. 644 644 644 No Am Ray A b50o 1 434 434 434 Northern P L 75c. 2 104 104 10*4 North Staten PA. 6 224 214 224 Novadel A«ene(2) 1 814 814 314 Ohio Brass p b75c 100s 64 64 64 Ohio Oil CU pf (6). 1 109 109 109 Ohio Pwr pf <6)_10s 1104 1104 1104 Okla Nat Gas. 10 134 134 134 Okla Nat Gas pf-- 60s 284 284 284 Okla Nat G pf («)- 60s 1004 1004 1004 Stock and Sales— Dividend Rate. Add 00. Hlzh. Low. Close, j Oldetyme Distil .14 4 4 PacG&E lstpf l1,3. 3 29}$ 29>$ 29)$' Pac Tin spec <t2).2C0« 40 40 40 i Pan-Am Air (tl)_ 1 6*4 6*4 64H Pantepeo OU_ 309 9)$ 8}$ 8J$ 1 Pennroad <a25c> .14 4 4 Phila El Co pf (5). 26. 112;$ 112J$ 112!$! Phoenl* Kecur 2 10 10 10 1 Pioneer Gold (40c; 2 4 4 4 Pitney Bow(t40c) 2 ',*$ 71$ 7"; Pitts&X.E(b4Vi). 70a 101»* 10li$ 101}$ Pitts Plate G (bl) 4 121 UK>$ 121 Potrero Sugar. 4 3 3 3 Powdiell&Al t60o. 3 164 10}j 10W' Producers Corp_ 1 4 4 Pub Svo Ind pf_20a 24 24 21 ! Pub Sve lnd pr pf 4u» 4.6 **4 *14' Pub S Molll n p(3)100s 77 77 ',7 Pub Sv Okla pl(6) 10a 103 103 103 Put Sd P&L, pf bo. 26a 72}j 72}$ 72H Quaker Oats (5).. 4Ca 112 112 112 Raym'd Cone (tl) 200s 40 394 39'-'* lied Bank 2 14!; 13;-, 144 Reed Roll B |80c.. 1 35)4 364 354 Reybarn Co blOc.. 8 5 4); 44 Reynolds Invest.. 1 ]»; ]*; 14 Richm'd Radiator 6 6 6 6 Root Petrolm b26c 18 64 5*; 04 Rustless Ir&Stl 2 14!; 14'; 14!; Ryan Consolld'd_ 1 5?; 64 54 St Anthony Gold.. 5 ■„ 4 "* St Regis Baner . 1 8*; 8*; 8f; Samson Unitd C’p. 1 64 6)8 64 Scovlll ilfg (b50c)350s 42'; 42 424 Segal Bock A H_ 7 24 24 2** Selected Indus_ 6 3 3 3 j Sel Ind all cfs 6% 200i 1024 102 1024 Sel Ind pr pf (64 )35U» ICO 994 100 Seversky Aircraft 18 44 4 4 Shattuck Den Min. 5 184 184 184 Simmons Hd & P_ 1 44 44 44 Singer Mfg (16) .. 10s 2974 297*; 2974 Solar Mfg (blOc). 1 6'; 64 C4 Sonctone C (aloe) 1 14 14 14 Southn Union Gas 1 44 44 44 Southl'd Roy blOc. 9 lo*4 104 104 Spencer Ch S b75c 1 94 94 94 Stand Cap&S tl.60 1 204 2C4 204 Stand Dredging .15 5 5 Stand lriv pf \vw._ 50s 464 454 454 Stand Pwr A Lt .. 14 6!, 24 34 Stand Sll&Ud (4c) 244 4 Sterchl Bros a30c. 1 9)8 94 94 Sterchl Bros 1st 3. 25s 37 37 37 Sterl Alum (b25c) 2 94 9); 94 Sterling, Inc t20c. 1 64 5*4 54 Stinnesl Hugo 1 d.. 3 3 2*; 3 Sunray Oil <b5c).. 11 4 1 4 Sunsnine Min (3). 1 18*j le*; 184 taggartuorp_ 4 12 114 12 Tampa El (2.24)._ 1 36 86 36 ! Taylor Dlst (30c). 1 34 34 34 Technicolor •50«_. 53 294 2ft m 29 ; Tech Hughes T40c 2 64 54 54 Thew Shovel a50c 25s €04 604 6u4 Todd Shtpyd (t2 )_ 5c« 624 624 624 I Tr-L,ux UPS t20c. 12 4*t ‘44 44 Tung-Sol Lamp... 2 €4 64 64 j UnltGaaCorp_ 51 94 si; 94 Utd Gas war_ 6 24 24 24 Unit Gas pf b34i — 7 1104 110 1104 Unit Ltil’wr pf A 6 64 6 64 Ut P&L pf b37 ’«c - 3 434 424 434 Unit S Mch pf 1.50 10a 364 384 384 1 U S Foil (Bill).. 5 144 144 144 U S & lntl Secur_ 6 U>8 1 4 14 U S Rub Reclaim.. 17 7 7 U S Stores_ 1 4 4 4 U S Stores 1st pf_. lOi 6 6 6 Unit Stores vtc_ 1 % 4 4 Unit Verde Ex (1) 2 44 44 44 Unit Wall Paper.. 9 4 34 4 Univ Corp'n v.t.c.. 1 64 54 54 Umv Pictures_ 2 94 94 U til P 82 E pf (d)_. 100s 16 16 16 Utility Eauttles .. 5 44 44 44 Utilities lndust’1. 2 *, 4 -f Utility & Indus pf. 1 34 34 34 Venezuela Mex O. 2 7 7 7 Venezuela Petrol.. 2 2 2 2 Walker Mining 3 24 24 24 Wayne Pump bl 4 6 474 474 474 Wntwth Mfg bl5c 1 64 6'. 64 West Tex Ut pf(6) 10s 87 87' S7 | W V« Coal & Coke 2 44 44 44 Westn Au S b40c.. 1 284 26 4 264 Willson Prod 111 > 1 1*4 164 164 Wolver Tube b20c. 1 15 15 15 Woodley Pet T40c. 1 84 84 84 Wright Hare 1400 9 64 64 64 Tgstn Steel Dblli 1 68 68 68 Dnidena rates In dollars based on last Quarterly or semi-annual payment ♦An nual rate—not Including extras ^Ac cumulated dividends a Paid last vear b Paid this vear d Companies reported as being in bankruptcy or In receivership, or being reorganized under the bankruptcy act or securities assumed bv such com* panlea. 200 TONS OF LEAD SOLD NEW YORK, May 22 .,L>, —St. Joseph Lead Co. reports 200 tons of pig lead from Southeast Missouri mines sold yesterday at $5.85 per hun dred pounds St. Louis. REAL ESTATE LOANS RESIDENCE and SMALL BUSINESS PROPERTIES. FRED T. NESBIT 1010 VERMONT AVE. DISTRICT 93fc; Money for Construction Loans and Loans on Existing Properties first deed of trust ovi.t GEORGE I. BORGER 643 Indiana Ave. N.W. Nat’I 0350 Jj% INTEREST CONSTRUCTION LOANS AND STRAIGHT 3-yr. LOANS Prompt Action on Applications Real Estate Mortgage & Guaranty Corporation 1610 K St. N.W. NAtl. 1493 Mortgage Loans Business Property $25,000 or Over Residence Property Up to $20,000 Attractive Amortization Plans to Suit Individual Requirements Low Rate of Interest District, Nearby Md. and Va. Robert Peddicord 1713 K St., N.W, Dl. 0010 __Office_Hours—9-1'I First Mortgage Money For CONSTRUCTION LOANS and LOANS ON IMPROVED PROPERTY in the District of Columbia Nearby Maryland and Virginia Prompt Action B. F. SAUL GO. 925 15th Street Natl. 2100 First Mortgage Loans District of Columbia, Nearby Maryland and Virginia Homes Business Apartments /(J Properties Terms from 3 to 1 5 years Also Monthly Payment Loans Randall II.Hagxer & Company incorporated Mortc.\ce Loan Oo«5ij:gT»<>M>T~rT J/rr/ l///c y'/tiurancr (jcw/tany 1321 Connecticut Ave. N.W. Telephone: DEcatur 3600 Consider These Facts When You Wish To Arrange A LOANS on improved or to be improved real estate— as low as including interest and curtail. . . No commis sions . , . No renewal fees. Let us help you solve your problem with a Perpetual loan. PERPETUAL Building Association is the largest m Washington, and one ot the leaders inthe entire United States. PERPETUAL has over 55,000 bor rowing and savings members. PERPETUAL'S Board of Directors keep in close contact with the officers and materially assist in the speedy handling of loans. PERPETUAL'S regular examination* by the U. S. Treasury Dept, are sup plemented by special C.P.A. audits as well as its own Auditing staff. PERPETUAL has always had a rep utation for sound, fair appraisals. Over 200 borrowers per month were advanced loans last year, totaling over $12 000 000 for the year. PERPETUAL BUILDING ASSOCIATION 11th &E STREETS, N.W. ESTABLISHED 1881 Largest In Washington—Assets Over $43,000,000 ARTHUR G. BISHOP MARVIN A. CUSTIS EDWARD C. BALTZ Chairman oi The Board President Secretory