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Election of A. M. McLachlen Will Bring Presidency in Four Years. BY EDWARD C. STONE. Washington bankers were back at their desks today after conclusion of the nineteenth annual convention at j White Sulphur Springs, having reached the Capital about 10:30 last night aboard a Chesa peake & Ohio special. The five-day session of the District Bankers’ Associa tion was consid ered one of the most interesting and enjoyable yet held. The three sen ior officers — Thomas J . Groom, Hilleary G. Hoskinson and A. M. McLachlen. Ord Preston—were moved up the ladder as anticipated. Prom a news standpoint the election of A. M. Mc Lachlen was the most interesting, as this was really the selection of the association's president four years hence. Mr. McLachlen is an official of the McLachlen Banking Corp., has been in the banking business for years and very active in association work. He is a brother of Lanier P. McLachlen. president of the McLachlen bank and also a former president of the District Bankers’ Association, one of the young est presidents the association ever had. Albert S. Gatley, vice president of the Lincoln National Bank, was hon ored for the twenty-seventh time as treasurer. The Auditing Committee which went over his books made spe cial reference in its report to his “re markable service to the association.” For more than a quarter of a century Mr. Gatley has kept the organization's financial affairs in fine shape. Owing to his special ability, or to some other reason, he always reports a substantial fcgiance at the end of the year. Many Bank Presidents Present. There were many Washington bank presidents at the convention, includ ing Francis G. Addison, jr„ Security Savings & Commercial Bank- Willard G. Barker, Morris Plan Bank; Clar ence F. Burton, City Bank; Robert V. Fleming, Riggs National; E. C. Gra Iham. Hamilton National; Ord Pres ton, United Trust Co.; John R. Reilly. Second National, and John R. Waller, International Bank, Jackson place. Ernest E. Herrell and L. Burt Nye Vere on deck as usual. They hold the extinction of having attended all 19 cf the conventions. So far as can be recalled. Francis G. Addison was the only other representative there this year who has not missed a single one cf these gatherings. The railroad arrangements were fcgain in charge of James B. Edmunds, cne of the finest passenger agents to te found anywhere. Making much of the trip down and back in the daytime proved highly satisfactory to the dele gates and guests. The golf trophy offered many years tego by the late X. A. “Pop" Fleming, while he was financial editor of The Ftar. was won this year bv Luther E. JSchreiner of the Dupont branch of the Hamilton National Bank. There is (always very wide interest in this tour nament. Bankers Cheerful on Outlook. The general tone of the speeches at the convention was cheerful. Dr. Wil liam analyzed a host of economic problems now facing this country. “But I am not. ready to sell the United States short,” he said at the end of his address. His talk caused very wide and favorable comment aft erward. Tom K. Smith spent more time tell ing what the American Bankers' As sociation is doing for its members than to any discussion of the business e.tuation. He did. however, have quite a little to say about inflation fears which are too often heard. “I have confidence in the views of fhose economists who hold that recent legislation has given Government au thorities adequate powers to control fhe situation, provided the necessary *teps are taken. It seems to me that the danger is not that the regulatory powers do not exist, but, rather, that in uninformed public might prevent these powers from being used at the proper time. The answer to that, of course, is public education,” he as sert ed. The A. B. A. chief made a special fcvip from St. Louis to address the Capital bankers and his visit was gnuch appreciated. The informal address of Gov. Mar iner S. Eccles of- the Federal Reserve Bystem indicated unusual confidence In the future. As he has said many tfmes, he believes that efforts must constantly be made to prevent ex treme swings upward or downward »nd that in the attempt to keep eco nomic, banking and business condi tions on fairly stable levels, the Gov ernment will always have to take a more or less active part. This, he be lieves, can and will be done in the fu ture in a way to prevent the re-occur tance of 1929 conditions. Reports Showed Busy Year. The special reports of the auditors, fcafe deposit and fiduciaries sections of the bankers’ association showed an especially busy year's work. The report of the Advertising Com mittee, E. H. Thomson of the Wash ington Loan & Trust Co., chairman, reflected the steady recovery which ras taken place in Washington in the past year, especially among wage Miners and Government employes. The part of the report referring to (Christmas savings stated that 82,858 members were enrolled this year, an Increase of 8,551 over the previous par. The total subscribed is $7,343,050, fcvhich not only exceeded the 1935 Christmas clubs by $1,084,610, but Blso showed an average saving per capita of $89, which Is $7 higher than the average amount put into Christ inas savings clubs a year ago. At the “family dinner” J. Thilman Hendrick paid a special tribute to the late Karl W. Corby, who was the head k>f the association at the time of his Peath. It is customary for the asso ciation to give the retiring president B watch. As a memorial to Karl and In appreciation of the planning which Mrs. Corby did for the convention, the association presented her with a beau tiful lady's watch. Although she was Hot present to receive it in person, a message was read expressing her Beep appreciation of the gift. Large government expenditures con tinue to Increase industrial activity in Mexico. TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE! By Private Wire Direct to The Star. All New York markets are now on daylliht saving time. Prev 1937 Stock and Bales— Net High. Low Dividend Rate Add 00. High. Low. Close, chge. 65 46% Abbott Lab (tl.60). 1 47 47 47 - % 84% 63% Acme Stoel (4)_ 1 74 74 74 -3 22% 15 Adams Express b30c 15 16% 16'1 16%-% 36 29% Addressog'ph b60c.. x 1 30% 30% 30%+ % 80% 67% Air Reduction (tl)_ 9 71V* 69 69 -3% 5% 2% Air-Way Electric__ 3 2% 2% 2% 15% 11% Uaska Jun (t60c)__ 4 12 11% 11% — % 5% 2% Alleghany Corp_ 37 3% 2% 3 — V* 59% 43% Alleg pf ww $30_ 1 46 46 46 —1% 45% 33 Alleg Steel (b80c)_ 5 32% 31% 31% —2% 27% 19 Allen Indus tl)_ 2 19 19 19 — % 258% 218 Allied Chem (6)_ 1 228 228 228 -4 33% 22% Allied Mills (b2)_ 4 22% 22% 22%—% 9 32 6 32 Allied Mills (b2)rts. 49 6 32 5 32 5 32-2 32 21% 15 Allied Stores (b20c) 13 16% 16 16% — % 83% 58% AUis-Chalm (b50c). 14 68 57 57%-2-% 8% 4% Amal Leather_ 3 5% 5% 5% — % 114% 90 Amerada Corp (2)_ 2 94% 94 94% -1 101% 83 Am Ag Chm Del bl_. 3 92 90% 92 -2 41% 21% Am Bank Note (tl). 3 23% 22% 22% -1% 75% 59 Am Bk Note pf (3).. 50s 63% 62 62 — % 80% 57% Am Brake Sh <t2)_ 1 64 64 64 121 95% Am Can (14 ).. .. 5 99% 98% 98%—% 71 50% Am Car & Fy (b25c) 2 54% 64% 64% -1% 99% 72 Am Chain & C bl %) 5 90% 90 90% -1 148 115 Am Chain & C pf 5.. 1 135 135 135 — 1% 23% Ill's Am Colortype _ 2 16% 16 16 -1 30% 22% Am Cornel A1 a50c_ 4 23 23 23 - % 33% 25% Am Crystal Sug b2_. 4 26 25*4 25% —1% 13% 8% Am Encaustic_ 4 8% 8% 8% — % 13% 7% Am & Foreign Pwr.. 11 8% 7'* 7% — % 58% 37 Am & For Pw $6 pf.. 2 37 37 37 — 1% 68% 45 Am & For Pw $7 pf _ 1(1 49% 48 49% — % 38% IS1. Am & For Pw 2d pf. 2 21% 21% 21% — % 21 16% Am Hawaiian (1) ... 3 17 17 17 — % 11% 6% Am Hide <fe Leather. 4 7% 7% 7% — % 52% 42 Am Home rr(t2.40). 2 43 43 43 — % 17% 13% Am Interntl (a40c). 3 13% 13% 13% — % 58% 42% Am Locomotive_ 6 44 43% 43% —2% 29% 20% Am Mach & F (til.. 5 20% 20% 20% — % 13% 9 Am Mach & Met 60o. 5 9% 9 9 — % 1291a 115 Am Metals pf (6)... 1112 112 112 -5 To 62 Am News <N Y ) (3) 130s 64 63 63 -1 16% 8% Am Power & Light.. 14 8*4 8% 8% — % T2% 43% Am Pw & Lt pf (5)_ 3 48% 4T% 47% - % 8T% 53 Am Pw & Lt pf (6). 3 58%, 58% 68% - % 29% 20% Am Radiator I60c._ 60 21% 20% 21 — % 4f% 31% Am Roll Mill tl.20.. 33 33% 32% 32% -1% 29 22% Am Seating (a2Vi )_ 8 25% 25% 25% — % 58 41 Am Shlpbldg (2)_ 10s 46V* 45% 46% — % 105% 79% Am Smelt & Ref(3). 26 89 87% 88% -1% 73% 48% Am Steel Fdry (bl). 13 55 54 54 -1% 115 109%, Am Steel F pf (7).. 150s 111ft 111* 111ft — tW 26% 19% Am Stores (2) 1 19 19 19 _ y, 25% 21% Am Sum Tob (tl)—x 6 23% 23% 23%+ 1, 187 160% Am Tel & Tel (9)._. 25 166 164% 164% -1% 99 74% Am Tobacco (5)_ 1 76 76 76 —1 99% 74% Am Tobacco B (E).. 9 78% 77 77% — % 130% 128% Am Tobacco pf (6)_ 2 134% 134% 134% — % 20% 13% Am Type Founders. 13 14 13% 13% — % 29% 16s* Am Water W <80c). 15 18% 17s* 18%—% 107 94% Am Wat W 1st p (6) 1 94 94 94 — % 14% 8% Am Woolen_ 4 9 8% 8s* — % 20 6% Am Zinc & Lead 6 12% 12% 12V* — % 79% 44% Am Zinc&L pr pf (5) l 55 55 55 —4 69% 47s* Anaconda Cop b75c. 191 53% 52% 53% —1% 24% 18 Anchor Cap (tiOc) _ 4 19% 19% 19% — yj 46 40 Archer-Dan-M(t2). 2 42% 42 42% 13'* 7 Armour of Ill(b3Ec) 52 11 10% 10% — % 99% 81% Armourdlllpr pf 6. 1 92% 92% 92% +1% T0% 57% Armstrong Cork(2) 6 63% 62% 63 — % 17% 10 Artloom Corp_ 2 10% 10% 10% — % 24% 15% Assoc Dry Goods . 1 16% 16% 16% - \ 125 114 Asso DG 2d pf b3% _ 1112 112 112 -1% 106 93% Assoc Inv pf ww(E) 50s 94 93% 94 % 94% 69% Atch T & S Fe(a2).. 36 82% 80% 81% -1% 104 97% Atch T & S F pf(E). 6 99% 99% 99% — % 55% 44% Atl Coast Llne(al). 23 48 46% 47% -1% 37 28 Atl Refining (tl)_ 10 29% 29 29% — % 18% 15% Atlas Corp (80c)_ 18 15% 15% 15% — % 52% 50%. Atlas Corp pf (3)... 4 50% 50% 50% 94 70 Atlas Powder bl !a _. 1 70V* Toy* 70% — 2% 133 113s* Atlas Pwdr pf (5)__ 60s 114 114 114 -■> 18% 12% Atlas Tack (1)_ 1 12% 12% 12%+ % 36 * 21% Auburn Auto_ 4 22% 22 22 —1% 9% 5'* Aviation Corp Del_ 15 6% 6 6 - % 6% Baldwin Loco (d) ._ 24 6% 6% 6% — % 120 86% Baldwin Loco pf(d) 1 90% 90% 90% —1% 9% 5% Baldwin asd (d) ... 12 5% 5% 5% _ % 40% 20% Baltimore & Ohio 59 31% 29% 30% —1% 47% 33% Baltimore & Oh pf__ 22 36 35 35 -1% 43% 29'* Barber Co (b25c)_ 8 30% 29% 30% — % 32 24% Barker Bros _ 7 26% 23% 24% —1% 42 38 Barker Bros pf 2 % _ 230s 38% 38% 38% — % 35% 24% Barnsdall < 1) 28 26% 26% 26'%— % 20% 14% Ba.vuk Cigar t75c__. 1 14% 14% 14% _ % 28% 22% Beatrice Cream tl„ 2 22% 22% 22% —1% 105% 101% Beatrice pf ww(5)_. 1 103 103 103 — % 15% 12 Belding Hemin (1) _ 8 12% 12 12 — % 30% 19% Bendix Aviat'n boOc 15 20'* 19% 19a; _ % 23% 20% Benef Ind Ln ib'Joc) 9 20% 20% 20% — % 105% 73 Bethlehem SteeHbl 36 84 82% 83% —1% 20 18% Beth 5% pf (1) _ 2 18% 18% 18% — % 69% 51% Bigelow-Sanf’d bl!4 2 54% 54 54 38 26% Black & Decker (1)_ 3 25 24% 24% —2 29% 22 Blaw-Knox (h45c)_. 12 24% 23% 23% —1% 49% 31% Boeing Airplane 12 35 34 35 — % 48% 40% Bohn Alum & B< 3)_. 9 42% 41% 41% — % 28 24 Borden Co (1.60)_ 28 24 23% 23% - % 47 38% Borg-Warner_ 64 45% 43% 44% -la, 15% 8% Boston & Maine_ 3 12V* 12 12 — % 23v* 15 Bridgep't Brass(l)- 19 16% 16% 16% _ 59% 41% Briggs Mfg (+ 2)_ 11 41% 41 411, 47 41 Bristol-Myrs t2.40_. 2 42% 42% 42% -2% 53 25% Bklyn-Man Tr <4)__ 9 25% 25% 25% - % 102% 72 Bklyn-Man T pf(6)_ 1 75 75 75 +2% 8 3% Bklvn & Queens_ 6 3% 3% 3% — % 24% 17% Brunswick-Balke... 6 19% ]8'* lg% _ \ 25% 15% Bucyrus-Erie _ 3 16% 16', 16% — % 117% 106% Bucyrus-E pf (7)__. 50a 108 108 108 14% 8% Budd (EG) Mfg_ 15 9% 8% 8% — % 13 8 Budd Wheel h20c __ In 8% 8% 8% — % 35% 25% Burr Add M (S0c)__. 7 26% 26 26 — % 111* 7 Bush Terminal _ 5 7% 7 7 _ 1, 39 27 Rush Terminal deb. 1 26 26 26 —2 45% 24% Bush T Bldg pf cod 60a 30 29 29 — % 18% 13% Butler Bros (60c)_ 14 14% 13% 141, 36% 28% Butler pf (1 %) _ 2 29% 29% 29% — % 9% 4% Butte Cop & Z(a5c)_ 8 5% 5% 5% — % 33% 20% Byers (AM). _ 6 22% 21% 21% — 1% 91 67% Byers (A M) pf_ 30a 68', 68', 68% 34% 27 Bi-ron Jackson (»). 1 28 28 28 — % 48% 37 Calif Packing (1%). 2 37'i 37 37 — % 6% 2% Callahan Zinc-Lead. 15 3% 3% 3% — % 20% 12 Caluinet&Hee b75c— 22 14% 13% 14% — % 37% 26 Campbell Wy <tl)__ 6 28 27 27 — % 38% 25'» Canada Dry G Ale_ 10 27% 26% 27% — % 17'-2 12% Canadian Pacific_ 27 13% 13 13% — % 61% 48 Cannon Mills(b50c) 2 45 45 45 —3 18% 14% Cap Adm(A)(al)__ 2 14% 14% 14% 52% 50 Cap Adm pf (A)(3). 10a 60% 50% 50% — % 106 100 Car Clin & O stp (5) 10» 98% 98% 98%—1% ! 9% 7 Carriers & Gen b 5c. 7 8% 8 8 — % 129% 116 Case(J I)Co pf(7)_50a 123 123 123 +1 100 85% Caterpillar Tr <t2)_ 4 92 92 92 41% 26% Celanese (b75c)_ 62 38% 38% 38% — % 113% 106% Celanese pr pf A(7). 3 111% 111% 111% + % 48% 36% Celotex Corp (b40c) 1 40 40 40 —1 82'i 73% Celotex Coro pf(5)_ 20a 76% 76 76 —2 12% 7'* Central Foundry __ 12 7'* 7% 7% — % 41% 25% Central R R of N J_. 5 24% 22% 221,-2% 14'.. Id'* Century Rib M b20c. 1 10% 10% 10'.*— % 96% 60 Cerro de Pasco (4)_. 13 66 65 65 — 1% 23% 14% Certain-teed Prd_ 2 16 16 16 — ■% 82 60% Certain-teed pf (6). 20a 65% 65% 65% — % 60% 35% Champion Pap (tl). 2 58% 57% 57% —1% 111 108 Champion P pf (6)_. 10a 108 108 108 68% 54% Ches & Ohio 12.80 .60 57% 56% 67% — % 100 91 Ches & Oh pf A (4)_ 1 97 97 97 -1 13% 6% Chi & Est 111 pf (d)_ 2 9% 9% 9% — a; 18V* 12 Chi Grt West pf (d) 4 12% 12% 12% — % 32 24% Chi Mall Ord tl%12 26 25 25%-% 3% 2 Chi Mil St P&P (d)_ 3 2% 2% 2% 7% 4'* Chi M St P&P pf(d). 14 4% 4% 4% - V, 6% 3% Chi & N W (d)_ 2 4% 4% 4% + % 19% 11% Chi & N W pf (d).__ 3 12% 12% 12%-% 33 21 Chi Pneumatic Tool 2 24% 23% 23% —1% 70% 55% Chi Pn T pf b87%c- 1 57% 57% 57% -2% 3% 2% Chi R i & Pao (d) ... 1 2% 2% 2% + % 8% 5% Chi RI&P 6% pf(d) 6 6 6 6 + % 22'-» 15% Chlckasha Cott’n Oil 1 17% 17% 17% — % 15% 12% Childs Co __ 4 12% 12% 12% — % 13.T/4 1064 Chrysler Corp b3 4- 59 1114 1094 1124 —14 21% 184 City Ice & Fuel (2). 5 19 184 19 92 83% City Ice & F of 64- 50s 83 83 83 -1 404 324 Clark EquipCtl.60). 3 36% 364 364 - 14 113 105 Clev El Ulu pf 44— 10b 106 106 106 — % 44% 35 Clev Graph Br (2).. 1 40 40 40 —1 1104 1224 Coca-Cola (t2)_ 1 155 155 155 + 4 25% 194 CoIgate-P-P< t50c). 14 19% 194 194 — % 1044 1024 Colgate-P-P pf (6). 1 102 102“ 102 —14 62% 51% Collins & Aikn (12)_ 5 61 50 50 -2% 30 19 Colo & South 1st pf. 10b 19 19 19 204 114 Columb G & El (40c) 27 11% 114 11% 108 87 Col G & E pf A (6).. 2 87 864 864 —4 394 31 Columb Pio vtc (tl) 4 344 334 334 —14 125% 111 Col Carb vtc (t4)_ 1115 115 115 -34 694 66% Cornel Credit (t4).. 7 614 61 (jl —2% 114 100 Cornel Cred pf (4 4) 2 106 106 106 +4 804 634 Cornel Inv T «14)_ 12 67 664 67 -14 214 13% Cornel Solv (t60c)__ 27 13% 134 134—% 4% 2 Comw & Southern47 2 4 2 4 24 454 36 Congoleum-Nrn<2)_ 1 35% 35% 35% — 4 87 80 Consol Cigar pf (7). 10s 80 80 80 134 84 Cons Coal! Del) vtc. 5 10% 104 10% — % 52% 33 Cons Coal Del vtc pf 120b 454 44 44 —lv4 49T)i 34 Cons Edls N Y(t2)_. 22 35% 34% 35 — 4 108 103 Cons Ed N Y pf(6)_. 9 103% 1034 1034 — 4 5% 3 Cons Film_ 1 34 3% 39, 18% 12% Cons Film pf (a2)__ 3 124 124 124 — 4 134 94 Cons Laundries_ 1 104 104 104 — 4 17% 144 Cons Oil (80c)_ 50 154 15% 154— % 37% 20% Container Corp 1.20 20 314 304 304 — 4 37% 21% Conti Baking (A)... 4 23% 224 23 -1 64 24 Conti Baking (B)... 13 3 24 24 109% 87 Conti Baking pf (8). 1 90 90 90 694 50% Conti Can (3) 13 554 54 54 —14 42% 36% Conti Insur <tl.60)_ 7 364 364 36'i — % 3 2 Conti Motors__ 12 24 24 24 — % 47% 39% Conti Oil Del ftl)_ 31 434 42 424 -14 35% 26% Conti Steel (1) _ 1 294 294 294 — % 77 624 Corn E* Bank (3)_20s 64 64 64 — % 714 544 Corn Prod Ref(t3)_ 1 57% 57% 57%—% 1714 153 Corn Prod R pf (7). 2 1574 157 1574 +14 10% 6 Coty Inc_ 9 74 74 74 —4 564 424 Crane Co_ 18 46 45 45 -4 121 1134 Crane Co pf (7)_ 16 1164 116 1164 +4 1054 1044 Crane Co cum pf (5). 14 104% 1034 103% —14 4 H Crane Co (rights) 349 H H 4 — 4 87 294 Cream of WheaUl). 2 81 804 81 . Prev. 1937 Stock and Bales— Net High. Low. Dividend Rate. Add 00. High. Low. Close, chge. 100% 70% Crown Cork & S(2)_ 4 74V* 74 74 —1% 25V* 17 Crown Zellerb_ 11 19% 19 19% —1 108% 99 Crown Zell cu pf (5). 3 99% 99% 99% —k% 81% 51 Crucible Steel_ 1 61 61 61 — V* 3 1% Cuba Co_ 30 1% 1% 1% 17% 9 Cuba R R pf_ 60s 9% 9% 9% — % 14% 8% Cuban-Am Sugar 6 8% 8% 8% — VS 127 110 Cub-Am Sug pf(b5). 100s 119% 119% 119% — % 43 37% Cudahy Pkg (2V4)__ 1 39 39 39 20% 11 Curtis Publishing_ 7 11% 10% 10%—% 109% 87% Curtis Pub pf (7)_ 1 88 88 88 +% 8'% 5% Curtiss-Wrlght_ 38 5% 5% 5% 23% 16% Curtiss- W (A)a50o_ 6 18% 17% 18%—% 90% 73% Cutler-Ham (bl)_ 1 74 74 74 —1% 24 19 Davega cum pf H4_ 3 20% 20% 20% 24% 17% Del Lack & West 21 18% 17% 17% -1% 10% 6% Den & R G W pf(d). 1 6% 6% 6% , 22 9% Det & Mackinac_ 60s 17% 16 16 -1% 36% 28% Diamond Match f11 1 29 29 29 — % 40% 34% Diamond Mpf(tl%) 1 36 36 36 -% 29 20% Distil Corp Seag_ 6 20% 20% 20%-% 25 19% Dixie Vortex<l%)._ 1 20% 20% 20%+% 51 38% Dome Mines (t2)_ 10 39 38% 38% 12% 9% Dominion Stores_ 1 9% 9% 9% — % 77% 47% Douglas Aircraft_ 28 55 54 54% — % 39% 28% Dresser B (al)_ 1 28% 28% 28% — % 180% 148% Du Pont da N(b2%). 7 155% 155 155 -1% 115% 112 Duauesne 1st 16)... 10s 113 113 113 — % 17 10V* Eastern Roll Mills . 6 11 11 11 - % 175% 151 Eastman Kodak (8) 2 170% 169 169 —3% 163 150 Eastman Kod pf(6). 70s 150% 150 150 -1 37% 31% Eaton Mfg (2)_ 1 33% 33% 33% -1 16 11% Eitlngton-Schild.7 12% 11% 11% -1% 29 21% El Paso Nat G 1.60.. 9 24% 24 24% 45% 34% Elec Auto Lt t2.40.. 15 38 37% 37% -1 16 9% Elec BoaMafiOc)... 12 10% -10% 10%—% 7% 4% Elec&Mus 1 (al8c)_ 13 5 4% 4% - % 26% 35% Elec Pow & Light _ 45 16% 15% 16%-% 87 59 Elec Pw & Lt S6 pf_ 6 59% 59 59% -2 92% 62 Elec Pw & Lt $7 pf_. 6 66% 64% 64% -2% 2 1% Elk Horn Coal <d)_ 1 1% 1% 1% 60 55% Endlcott-John (3).. 1 57% 57% 57%—% 23% 13% Erie RR . 4 17% 17 17 - % 35% 24 Erie RR 1st pf_ 8 26% 24 24% -1% 28% 19% Erie R R 2d pf_ 4 19% 18% 18% -2 14% 10 Eureka Vac (80c)_ 1 10 10 10 — % 34% 24% Evans Prod (tl)_ 3 25 24% 25 6% 3% Exchange Buffet_ 1 3% 3% 3% — % 28 20% Fairbanks Co pf_ D0» 24% 23% 23%-% 71% 49% Ealrb'ks-Morse <41) 2 55 55 55 -1% 70 53 Fajardo Sugar (b2). 1 52 62 62 -1 29% 19% Federal Lt & Trac . 2 20 20 20 — % 11% 7 Federal Motor(40c). 2 7% 7% 7% — % 11% 5% Fed Screw Works... 4 7% 7 7 — % 6 3% Fed WaterSvcA _ 5 S% 3% 3% 45% 36 Fidel Phoenix 11.60. 6 37% 36% 36% —1 41% 32% Firestone T&R (2). 4 33% 33 33 -% 52% 40 First Natl Strs t2% 4 42 42 42 — % 46% 29% Flintkote Co (1) ... 3 30 29% 30 58% 46 Florence Stve b50c_ 3 64 62 54 + % 9% 6% Follansbee Bros(d). 2 6% 6% 6% — % 58 47% Food Machine (1)_ 1 61 51 61 54% 38% Foster-Wheeler_ 7 43% 42 42 —2 135 106 Foster-Wheeler pf.. 90s 112 110 111) —2 lHt;, 10 Francisco Sugar_ 1 10% 10% 10% — % 32% 24% Freeport Sulph (1). 6 26% 25% 26 - % 7% 4% Gabriel Co (A)_ 1 5', 5% 5% — % 33 22 Gamewell Co _ 20s 24% 24% 24% — % 19% 12% Gar Wood Ind a55c. 12 12% 12% 12%—% 86% 65%. Gen Am Trans ia3). 14 70 69% 69% — 1% 19% 12% Gen Bakin* (t6Dc)_. 6 12% 12% 12% — % 153 139 Gen Baking pf (8).. 50s 139 138 138 -1 32% 22 Gen Cable _ 4 24% 23 23 -1% 65 45 Gen Cable (A)_ 3 49 48 49 -1 64% 49% Gen Elec (b40c)_ 86 52% 51% 51% -1% 44% 36 Gen Foods (2)_ 6 39% 39 39 — % 3% 1% Gen Gas & Elec(A). 12 2 2 2 65% 60 Gen Mills (3) _ 3 63 63 63 - % 124 117 Gen Mills pf (6)_ 60s 119 118% 118% -1% 70% 54% Gen Motors (bl %)_. 108 55% 54% 55%—% 122% 114% Gen Motors pf(5)._. 2 117 117 117 15% 8% Gen Outdoor Adv .. 6 10 10 10 — % 60% 42% Gen Outdoor Adv A. 2 47 45 47 -tl 19 15% Gen Print Ink new.. 3 17 16% 16% — % 5% 3% Gen Pub Service_ 3 4% 4 4 — % 5% 3 Gen Realtv & Util_ 9 3% 3% 3% + % 48% 34 Gen Realty & U pf.. 1 33% 33% 33% -2% 70% 57 Gen Refract (b2>_ 3 60 58% 59% -1% 88 59 Gen Steel Cast pf... 10s 58 58 58 -1 20% 15 Gillette S Ra* < + l)_ 14 15% 15% 15% - % 88% 80 Gillette S R pf (5)._ 1 81 81 81 + % 29% 20% Gimbel Bros _ 9 22% 22% 22% — % 90% 82% Gimbel Bros pf (6).. 1 84 84 84 —1 51% 41 Glidden Co < 12)_ 4 45% 44% 45 —1% 6% 4% Gobel (Adolf) _ 2 4% 4% 4% 8% 5% Goebel Brew( t20c). 1 6% 6% 6% + % 50% 31 Goodrich(BF) baOc. 21 42% 41% 42% -1% 87% 79% Goodrich pf (5)_ 1 80% 80% 80% 47% 27% Goodyear T&R bl_ 62 38 36% 37% -1% 141 100 Goodyear cu pf( 5).. 2 114 113% 113% -3% 96 90% Gotham S H pf (7).. 20s 90% 90% 90% — % 4% 3 Grahain-Paige_ 50 3% 3% 3% 15 6% Granby Cons _ 7 9% 9% 9% — % 48% 33 Granite City Stl(l). 1 36% 36% 36% — % 56% 40% Grt Northern pf_ 88 52% 51% 52% —1% 28% 19 Grt Northn Ore (1). 6 21% 20% 20% — 1% 42% 34% Grt W'est Sug t2.40_ 5 34% 34 34% — % 145% 135 Grt Wst Sug pf(7)_. 40s 137 137 137 -% 39% 29% Green H L (tl.60)_. 3 29 28% 28% -1 16% 12% Greyhound (t80c)_. 4 14 13% 13% 4% 2% Guantanamo Sug_. 2 2% 2% 2% — % 59% 47 Gulf Mobile & N pf. 2 60 50 60 20% 13% Hall W F Print_ 5 16 15 16 + % 31 25% Hamilton W (b65c). 1 28 28 28 + % 105 98 Hanna (MA) pf(5)_ 70s 101 100 101 — % 58% 43 Harb-Walker (t2).. 3 46% 45% 45% — 1% 17% 12% Hat Corp of Am 80c. 5 12% 12% 12% + % 8 4 Haves Body _ 7 5 5 6 — % 109% 101 Hazel Atlas G1 (t5). 2 102% 102 102 15% 11% Hecker l’rod (t60c). 16 13 12% 13 — % 67% 58 Hershey Choc (t3)_ 1 61% 61% 61% — % 111 102% Hershey Ch pfCM)_ 2 107% 107% 107'm — 1 52% 35% Hollann Furlal %). 4 39% 38 38 -1% 30% 21 Hollander & Son( 1) 4 25 25 25 — % 43% 31% Holly Sugar (T2)_ I 33% 33% 33% - % 431 336 Homestake < 112) .. 140s 381 380 380 — lb 41 37 Houd-Hersh A (2 %) 1 37 37 37 — % 27% 20% Houd-Her B ( T1 % ). 3 21 20% 20% — <% 73 57% Household Fin (4) 2 59% 59% 59% + % 94 88% Househ'ld Fin pf (5) 2 89 89 89 -1 17% 12% Houston Oil vtc_ 29 15% 14% 14% — % 90% 62% Howe Sound (t3)... 12 76 73% 74 —3 5% 3 Hudson & Manhat_ 1 3% 3% 3% + % 23% 15% Hudson Motor__ 13 16% 15% 15% — % 4 3 Hupp Motor_ 25 3% 3% 3% — % .38 224 Illinois Central_ 11 28 26ft 274 -lft 674 46 Illinois Cent pf A_ 3 454 45 45 —1 72 62 111 Cent Is In (4)_ 20* 62V* 62V* 624 + 4 224 12ft Indian Refin (al)__ 1 14 14 14—4 474 364 Indus Rayon (2)_ 5 394 384 384 —lft 1314 96ft Inland Steel (+ 4)_ 22 964 94 96 -ft til ft Inland St rts June 4 553 ft ft V* — 4 334 17ft Inspiration Cop_ 42 23ft 22ft 23 —1 6 4ft Insur Sh Md (blOc). 16 4ft 4ft 4ft— 4 13ft 64 Inter Rap Tr vtc(d) 1 74 74 74 + V* 64V* 41 Interchem Corp( + 2) 2 58 58 58 —1 1114 1074 Interchemical pf (6) 40* 108ft 108ft 108ft + 4 114 4ft Intercontl Rubber-. 2 7 7 7 —4 284 164 Interlake Iron_ 35 18 174 18 - ft 94 6 lntl Agricultural 6 64 6ft 6ft — ft 634 42 lntl Agri pr pf(b3). 4 544 534 544 -14 189 1494 lntl Bus Mach(t6)_. 2 1494 1494 1494 —IV* 1114 994 lntl Harvester) 2 4) 11 1084 106 106 —3ft. 164 84 lntl Hydro El A_ 12 lift 11 11 Vi — ft 154 64 lntl Mercantile M_ _ 3 94 94 94 — 4 18ft 10 lntl Mining (b30c)_ 1 11 11 11 — ft 73ft 554 lntl Nickel (bl)_ 64 59 584 59 -1 24ft 164 lntl Paper (A)_ 10 18ft 184 18ft -14 18 10ft lntl Paper (B)_ 9 13 12ft 13 —14 94 5ft lntl Paper (C)- 18 7 6ft 6ft— 4 121ft 904 lntl Paper pf_ 2110214 1014 1024 -2 49ft 424 lntl Shoe (12)_ 1 43ft 43ft 43ft 52 31ft lntl Silver._ 1 40 40 41) — 4 110 90 Int Silver pf (b6)—. 10* 95 95 95 154 Oft lntl Tel & Tel . ... 60 104 94 104 - V* 364 20V* Interstat Dp St b24 6 21 20ft 20ft— 4 lft 1 Inter D S rts June 8. 24 14 14 IV* — Vi 30 2514 Island Creek (2i_ 1 28 28 28 — 4 874 71 Jewel Tea (14)- 1 764 764 764 +14 155 125 Johns-Manv «T3)_ 11 128 127 127 -3 136 1204 Jon&L 7% pf(blft). 80* 124 123 123 -1 29 20 Kans City South 1 21 21 21—4 110 984 Keith-A-O pf (bl ft) 10 * 98 4 98 4 984 —1 23ft 164 Kelsey-H A (al4 I. 3 174 17 17 - ft 69ft 51 Kennecott Cop blft. 83 574 554 564 -14 Oft 54 Kinney (G Rl Co— 1 64 64 64 — 4 71 47V* Kinney pf (al) _ 20* 594 59 59 154 84 Kresge Dept Stores. 2 9 9 9 29ft 21ft Kresge (S S) b60c._ 11 21ft 214 214 — Vi 244 194 Kroger Groo (T 1.60) 12 19ft 194 19ft 24 184 Lambert Co (2)_ 7 20 194 20 —ft 274 17 Lee Rubber (60c).-. 4 244 24 244 -4 3ft lft Lehigh Valley Coal. 1 14 14 14 24ft 17 Lehigh Valley R R. 11 174 16ft 16ft -Hi 137 117ft Lehman Corp )t3> x 5 38ft 38ft 38ft -14 21ft 16 Lehn & Fink b624c 5 154 154 154 -lft 79 614 Libbey-Ow-F b75c._ 6 66ft 65 65 -2 15ft 9ft Libbv McN & L(al). 3 lift 114 114-4 28ft 25ft Life Saver (tl.60),. 2 264 264 26V* - 4 114 944 Ligg & Myers B t4_ 3 964 954 954 -1 234 18ft Lily Tulip (tl4)_ 1 18ft 18ft 18ft 61 514 Link Belt (t2)_ 1 53 4 534 534 - ft 534 43ft Liquid Carb (2.60)_ 4 484 48 48 -14 844 644 Loew’s Ino (t2> 25 77ft 77 77ft-2ft 110 1054 Loew's Inopf(6V4)_ 2 105ft 1054 1054 - ft 34 24 Loft Inc . 4 24 24 2V* 75V* 504 Lone Star Cem (3)— 6 64 54 64 -2 10ft 64 Long-Bell Lumbl A) 1 74 74 74 28ft 214 Lorillard P (tl.20). 7 21ft 214 214 - V* 147ft 1384 Lorillard P pf (7).. 50* 140 139ft 140 +4 28ft 19ft Louis G&E A b37V4c 1 22 22 22 +4 99 86ft Louis&Nash b24 - 2 88 87 4 874 —4 41ft 294 Ludlum Steel (tl)-. 3 30 294 294 -14 36 30% MacAndrew&F(t2). 1 31% 31% 31%-1 36 27 McCall Corp <t2)_ 1 26% 26% 26%-% 24% 14% McCrory Stores __ 5 15% 15V* 15V* — % 28% 18% McGraw H P b27%0 1 20V* 20V* -20V*— % 42% 32% McIntyre Porcu(2). 8 33V* 33% 33V* - % 42% 31% McKeesp’t Tin Plat* 9 35% 34 34 -1% 16V* 12% McKesson & Rob 17 13% <13% 13% - % 19 12% McLellan Strs b75c. 6 12% 12% 12%-1 62% 42% Mack Trucks (U)__ 1 44% 44% 44%-1 58% 44% Macy (R H) «+2)_ 6 45% 44% 44% -1 63 45 Magma Copper (2)_ 4 50 49% 49%-1 16% 8% Man El rad gtd (d)- 3 8% 8% 8% - % 29% 19V* Manhat Shirt (1)_ 1 20 20 20 6% 3% Maracaibo Oil Exp- 1 3% 3% 3% 14% 10% Marine Mid <t«0e)-. 12 10% 10% 10% - V* 3% 1% Market St Rjr_ B0» 1% 1% 1% - % •9 24% Market St Ry pr pf. 40* 28% 28 28 -1 Prev. 1937 Stock and Sales— Net High. Low. Dividend Rate. Add 00. Hikh. Low. Close, chge. 30% 18% Marshal] Field_ 7 24% 24% 24% — 74 29% 23'% Martin (Glenn)_ 6 2.3% 23 23 — % 13% 7 Martin-Parry__ 1 8% 8% 8% + % 74 54% Masonite (tl)_ 2 55 55 55 — % 41% 32% Mathieson Aik (1 3 33 ,33 33 — % 66*4 53 May Dept St (t3)_ 1 52% 52% 52%—% 15% 9Vi Maytag Co (a50e)_ 1 10 10 10 44 35% Maytag pf ww (3).. 2 35% 35% 35% - V* 34% 25% Mead Corp_ 1 29 29 29 dl 101 9.8% Mead Corp pf (6)_ 10a 94 94 94 — 1 Vi 16% llViMenkelCo _ 3 11% 11% 11% — 74 7274 58 Mesta Mach (b2%). 5 60% 59 60%+ % 2674 14% Miami Copper .. 27 17% 16% 16% —1% 35% 27% Mid-Cont Tet (b50c) 8 28% 27% 27% -1 48% 3474 Mldld Stl Prod(t2). 2 38% 38% .38% — % 122 114 Mldld Stl 1st pf<8)_ 20»115 115 115 +% 120 96 Minn-Hon Ros (2).. 3 108 106 106 -2 124 108 Minn-Hn R pf B(4). - 10a 110% 11074 110% + % 167* 11 Minn Moline Pow _. 18 12% 12 1274 — % 101 88% Minn Moline Pw pf. 2 98% 96% 967:,-2 34 25% Mission Corp (bl)_ 2 26% 26% 26% — % 9% 6% Mo Kans & Texas 18 774 7 7 — 74 34% 247t Mo Kans & Tex pf A 15 26% 25% 26 -1% 6% 3 MoPaciflo(d)_ 7 4 4 4 — 7* 1274 7 Mo Pacific pf (d)... 4 8% 874 8% -1 40% 28 Mohawk Carpll.20) 23 34% 33% 33% — 7s 101 85 Monsanto Ch b75c__ 9 90% 90 90% 69 48 Montg Ward (t2)_ 32 51% 49% 50% -174 46 39 Morrell J (2.40)_ 1 40 40 40 +1 66% 69 Morris & Esx (3%). 30a 61% 61% 61% — % 3% % Mother Lode amte. 16 1% 1% 1% 38% 307* Motor Prod (bl % ) __ 4 31% 3174 31% - a* 26 2074 Motor Wheel! 1.60)_ 3 20% 20% 20% — % 54 40 Mueller Brass (tl)_ 3 41 41 41 — % 90 70 Murphy (G E) 3.20.. 5 72% 72% 72%-% 20% 11% Murrty CorpiaOdc). 7 12% 12 12 — »4 71 58% Mi'ers (F E) (bl)_ 1 67 67 67 — % 24% 17% Nash Kelv (1) _ 57 18% 18 18% — % 24 18 Natl Acme (b25c).. 7 18% 18'i 18% — % 18% 11% Natl Aviation (al)_ 1 12% 12% 12%—% 33% 24% Natl Biscuit (1.60). 19 25% 25% 25% - H 38% 29% Natl Cash Reg <1>_ 20 33% 32% 32% -1% 26% 21% Natl Dairy Prd 1.20 * 24 22% 22% 22% — -ft 112% 108 Natl Dairy pf A (7) * 30s 108% 107% 107% - % 24% 16% Natl Dept Stores _. 3 17 17 17 + % 10% 6% Natl Dept Strs pf 340s 7 6% 6% — % 35 27% Natl Distillers! 12). 8 30% 30% 30%-% 38 30 Natl En & Stpg (2)_ 3 31 30 30% — % 18% 14% Nat’l Gypsum Co_ 6 15% 14% 15% 44 31% Natl Bead )t50c) .. 6 34% 33% 33% —2% 61% 48 Natl Mall & S C b50o 1 51% 51% 51%-% 14% 8% Natl Pw & Lt (60c). 21 9% 9% 9% — % 1 % Natl fly Mex 2d pf_ 1 % % % 94% 70 Natl Steel (t2 %)_ 5 78 77% 77% — 1% 109% 62 Natl Supply Co .. 3 101 101 101 -2 130 121% Natl Supply pf bl li 1 126 126 126 —1 12% 7% Natl Tea (60c)_ 18 8 8 13% 10 Natomas (t80c)_ 10 10 9% 10 — % 57% 42 Nelsner Bros (12)_ 2 42 42 42 —2% 109 100 Newberry pf (5)_ 30s 103% 103% 103% 37 19 New Orl T&M (d)_ 10s 22 22 22 + % 41% 28 Newport lnd(b50c). 20 30% 29% 30% — 1% 98% 73% N Y Air Brake (al). 3 80% 79 79 -4 65% 40 N Y Central _ 177 44% 42% 43% -2% 72 41 N Y Chi & St L_ 1 58% 58% 58%- % 100 83 N Y Chi & St L pf_ 3 89 88% 88% -2% 31% 25% N Y City Omnibus_ 5 26% 25% 26 — % 25% 17 N Y Dock pf _ 20s 17% 17% 17% - % I 9% 5% NY NH & H (d) ... 50 5% 5 5% - % 26% 15% NY NH & H pf (d)_. 20 17 15 17 -+ 1% 6% 2% N Y Ontario & W_ 3 2% 2% 2% 15% 8% N Y Shipbuilding_ 1 10% 10% 10% — % 76% 56 N Y Shipbldg pf_ 10s 58 58 58 — % j 102% 95 N Y Steam pf (6) .. 140s 101 90 90 —11%: 112% 107 N Y Steam 1st (7).. 120s 110 9! 92 —19% 4% 2 Norfolk South (d) . 5 2% 2% 2% 272 236% Norfolk & W’n (10). 2 243 240 243 4 3 114 102 Norf & W pf (4)_ 50s 103% 103% 103% -t- % 17% 9% North Am Aviation. 41 11 10% m% — % j 34% 22% North Am CotbSOc) 67 26% 25% 26% 57% 51% North Am Co pf (3) 6 54% 54 54% 104% 97% North Am Ed pf (6). 3 100% 100 100% + % 36% 27% Northern Pacific ... 52 32% 31% 32% -1% 63% 49 Northwest Tel (3).. 30s 60% 50% 50% + % 6% 3Vi Norwalk Tire & R_ 3 4% 4% 4% — % 22% 17% Ohio Oil <b30c)_ 27 19% 18% 18% -1% 73 53% Oliver Farm Equip. 10 65% 63 63 —3 26% 16% Omnibus Corp vtc_ 6 17 16% 17 45% 33% Otis Elevator b40c .. 12 38% 37% 37% —1% 24% 14% Otis Steel . _ 12 16% 16 16% - % 96% 82% Owens-111 Glass (3) 5 93% 93 93 -1% 23 17% Pacific Am Fish 1.20 3 17% 17% 17% - % 15% 9 Pacific Coast _ 50s 9 8', 8% — % 40 25% Pacific Coast 1st pf. 10s 26 26 26 -2 27% 15% Pacific Coast 2d_ 20s 15% 15% 15% + % 32% 22% Pac Finance(11.SO). 1 22 22 22 — % 38 28% Pac Gas & Elec (2). 23 29% 29% 29% + % 53% 41% Pac Fighting (3)_ 9 44 43 43 —1 44% 31 Pacific Mills (bl)... 4 3(1% 30 30% — *, 12% 8% Packard Mot (bl5c) 78 9% 9 9 — % 121 6o Panhandle P&R pf. 150s 110 106 106% — 8% 28", '17% Paramount Pic _ 62 19 18% 18% — % 26", 16% Paramnt 2d pf 60c10 17% 16% 16% —1 8% 4 Park Etab . 12 4% 4'2 4% — % 44% 37% Parke Davis(bl.40). 1 38 38 38 -’2 29% 24% Parker Rust (tl %). 1 24% 24% 24% - % 7% 4% Parmelee Trans_ 2 4", 4 , 4% 10% 6% Paths Film Corp_ 5 7% 7% 7", 23% 14% Patino Mines(t60c). 6 15% 15% 15%— % 7% 3% Teerless Corp . .. 5 6% 6% 6% 64 38% Penick & Ford (bl). 1 40% 40% 40% 41% 103% 87 Tenney J C)<4)_ 7 92 90", 91 —1% 12% 7 Penn Dixie Cement- 4 7% 7% 7% — % 29% 22 Pa Glass ctfs b25c._ 1 25 25 25 -1% 60% 39% Penn Railroad (a2). 35 41% 40% 40% -1", 65% 44% Peoples Gas Chi_ 10 47% 46*, 47% + % 48% 34 Pere Marquette_ 1 35 35 35 —5 21% 16% Petrol Cnrp(A) b40c 2 17 17 17 — % 13% 7% Pfeiffer Brew bfiOc.. 7 8*, 8% 8% — % 59% 43% Phelps Dodge bSOc.. 10 47% 46% 46% —1 7% 4% I’hila flap Tr id) .. 50s 5% 5% 5% + ", 3% 1% Thila & Read C&X. 2 1% 1% 1% 84% 70 Philip Morrls(b3$4 ) 7 78 76% 76% -2% 59% 49% Phillips Petrol'm t2 10 55% 55 55 -1*, 20", 14% Pierce Oil pf 2 15 15 15 -1 33% 28% Pilisbury Flour 1.60 1 28% 28% 28% 18% 10% Pittsburgh Coal .. 1 11% 11% 11% - % 20 13% Pitts Screw&B bl5c 7 14% 14% 14 % — *, 122 93% Pitts Steel pf_ 140s 94 93 93% -1% 8", 3% Pitts United _ 2 4% 4% 4% 137% 97% Pitts United pf_50s 110 105 110 +12 29% 24% Plymouth Oil bTOc. x 7 26% 26% 26% — % 33% 22% Poor&Co (B) _ 4 25% 24% 24% -1% 11% 6% Porto R Am Tob A.. 3 5% 5% 5% — % 3% 1% Porto R Am Tob B._ 3 1% 1% 1", 15% 8 Postal Tel&C pf(d). 2 8% 8% 8% — % 31% 19% Pressed Steel Car_ 2 21 20% 20% —1% 65% 55% Proctor & Gam(t2)_ 3 58% 58% 58%—% 118% 114% Proc&Gamb pf(5)_ 20s 115% 115% 115% 52% 37% Pub Svc N J <2.60)_ 11 39% 38% 39 -1 72% 65% Pullman Ino (1%).. 6 56% 66 56% -1% 24% 17V, PureOll _ —_ 92 IS 17% 17% -1% 107 99 Pure Oil 6% pf(6).. 3 101 100% 101 +1 112% 108 Fure Oil pf (S)_ 200s 110% 110% 110%+ % 23% 15% Purity Bak (60c).._ 3 16% 16% 16% 12% 8% Radio Corp_ 72 8% 8% 8% - v* 80 65V* Radio pf A (3%).._ 3 68% 68v, 68% - v, 10% 7% Radio-Keith-Or <d). 22 8 7% 8 — % 25% 14% R R Sec 111 Cent_ 20s 18% 18% 18%-% 37% 29 Raybestos M <tl%) 3 33 32% 32% — % 43% 38 Reading 2d pf (2).1 39 39 39 29% 21 Rem-Rand (b55c).. 13 24% 23% 24% 110 97 Rensselaer & S(8)_180s 100 99% 99% - % 9% 6 Reo Motor Car_ 7 6 5% 5% — % 47% 27% Republic Steel_ 116 34% 33V* 34V* — 1% 49% 33% Revere Copper_ 2 37 37 37 —1% 30% 22% Reynolds Met (tl).. 6 26% 26 26 — % 67 60 Reynolds Tob (3) ... 30s 61% 61% 61% 68 49 Reynolds Tob B (3). 15 51% 50% 51V* 9% 6% Rutland R R pf- 2 6 6 6 — % 46 31 Safeway Stores(t2) 13 34% 34’i 34% + t4 103 97Mi Safeway Strs pf (5). Ills 98 98 98 113 106'-s Safeway Str pf(6)_. 50s 110'i 110 110 65 4314 St Joseph Ld <t2) — 21 57'a 56 56% — % 4% 3 St Li-San Fran (d)_ 12 3V» 3 3 — H Ills 6Vi St L,-San Fr pf <d) .. 6 7% 7 7 — % 27l4 14'h Savage Arms (b25c) 2 22 2l7s 217» — % 51% 40'i Schenley Dist bll-i— 2 42 4lla 41'a — % 98% 93% Schenley pf (5Vi)— 1 96 96 96 +1% 3V* lVi Schulte K Strs id) — 2 2 1% 2 + V* 45V* 38 Scott Paper (b65c)_ 60s 40% 40'* 40'* + % 2% l1/* Seaboard Air 1* (d)_ 9 1% 1% 1% — % 8Mi 4% Seaboard A L pf(d) 2 5 4% 4% — ia Prev. 1937 Stock and Bales— Net High. Low. Dividend Rate. Add 00. High. Low Close, chge 54% 36% Seaboard OH (1)_ 10 41 39% 40 —1% 11% 7% Seagrave Corp_ 3 8% 8% 8% 95% 81 Sears Roebuck (3).. 15 86*4 85% 86 — % 34 26 Servel Inc (tl)... . 10 29% 28% 28%-% 42% 29 Sharon Steel (tl.20) 7 30 29% 29% -1% 14 9% Sharpe & Dohme ... 5 11% 11% 11% — % 17% 12% Shattuck F G (60c). 7 14 13% 13% — % 34% 25% Shell Un Oil (a2Ec). 2 29 28% 28%—% 105% 102 Shell Un Oil pf 6%.. 1 104% 104% 104% + % 17% 12% Silver King (b25c).. 3 14 13% 13% — % 68 40 Simmons Co (bEOc). 11 46 45 45 —1% 60% 42 Skelly Oil (bSOc) ... 1 64% 54% 54% —2% 197 85% Sloss-Sheffield Stl-_ 40s 150% 150% 150% —4% 54% 32 Smith (AO) _ 2 32 30% 30% — 1% 29% 21% Snider Pkg (bl%)._ 2 21% 21 21 -1% 20% 16% Socony-Vac (b26c). 98 18% 18% 18% — a, 113% 110 Solvay Am pf (5%). 1 113 113 113 — Vs 6% 3*1 South Am G & P 30c 12 4 3*1 3% 42% 33% South PortSugtt2) 4 33% 33*4 33% — % 155 141 Sou Porto R S pf (8) 60s 142 142 142 41 32% 22% So Cal Edison 11 %.. 10 24% 23% 24% — *1 65% 42% Southern Pacific_ 80 52 49% 50% -2% 43*4 24 Southern Ry_ 60 37% 36 36% —1% 60% 45 Southern Ry pf_ 6 48% 46% 46% -3 11% 8% Spalding (A G)_ 1 8 8 8 — % 104% 98 Spang Chal pf bl %. 20s 99 99 99 9% 5*«i Sparks-Withing . . 1 5% 5% 5% — % 23% 17 Sperry Corp vtc(al) 10 18% 17% 17% — % 34% 28%. Spicer Mfg <a3)_ 1 29% 29% 29% — % 28% 19% Spiegel. Inc (1)_ 9 21 20% 20% — % 95% 95 Spiegel cum pf(4 %) 30s 81% 81% 81% -3% 48*, 37% Square D (B) b25c . 2 42 41 41 -1 16% 12% Stand Brands! t80c) 18 12% 12% 12% 14 % 5% Stand Gas & El (d)_ 17 7 6% 6% — a, 32% 15 Stand G&E *4 pf(d) 4 17 17 17 — ", 65 37% Stand G&E |6 pf(d). 2 40 40 40 -2 72% 43% Stand G&E $7 pf(d). 5 44 42 42 —3% ■> 2's stand Inv Corp_ 13 3 3 50 40% Stand Oil Calif (tl). 43 43% 42% 42% -1% 50 42 Stand Oil Ind (tl)_ 34 43% 43% 43% — % 76 63% Stand Oil N J (tl)._ 19 66% 65% 65% -1% 4X 34% Starrett L S(tl.40). 2 41 40 40 —1% 75 63% Sterling Prod t3.80. 3 67 66 66% — % 21 17% Stewart-Warn t50c. 14 13% 17% 18 — % 17% 14% Stokely Bros (tl)_ 2 16% 16% 16% — % 53% 19 Stone & Web(a25c). 22 20 19% 19% — % 20 13% Studebaker Corp_ 29 14% 14% 14% — % 77% 65 Sun Oil (tl).. 1 65% 65% 65%+ % 61% 40% Superheater (1 %)_. 1 42 42 42 — », 7% 4% Superior Oil . ... 14 5 4% 4% — i4 28% 23% Swift & Co <tl.20).. 7 24 25% 23% — % 33% 30% Swift Internatl (2). 4 31 30% 30% — % 23 % 15% Symington wtv blOc 9 19 17% 17'% —1% 17% 11% Symington xw blOc. 7 13% 13% 13% — i, 15% 11% Talcott (J) 60c 1 11% 11% 11 \.j _ 15% 10% Term Corp (al5c)._. 12 12% 12% 12 * — % 65% 50% Texas Corp (2)_ 56 58% 58 58%—% 9% 6% Texas Gulf Pr a5c 23 7% 7 7 — % 41 35% Texas Gulf Sul (+2) 13 36 35'% 35% — i, 16% 11% Tex Pac C&O blOc _ 36 14% 14% 14%— % 15% 10% Texas P L T (alOc). 1 11 11 u _ 48 35% Thatcher Mfg (tl).. 2 36 36 36 — % 13% 8% Thermold Co _ ]() 9 fc% X'i, — % 28% 23 Thomps'n Prod b40c 1 25 25 25 -1 10% 5%. Thompson Starrett. 1 5% 5'% 5% — % 21% 16% Tide Wat As Oil 80c 6 17'., 17% 17% _ % 97% 91% Tide Wat A O pf 4 % 1 96% 96 % 96%+ % 28% 21% Timken-Detroit(tl) 11 22% 22% 22% — •% 79 60% Timk'n-Koll Brg<3) 15 61% 59% 60% -1% 17% 13% Transamerica f 40c. 36 13% ]3 22% 13% Trana Wat AlraSSc 2 13% 1:;% 13% - % 27% 18 Transue & W< t60c) 1 18 15 15 _ ] % 11% 8 Tri-Conti <a50c) . 10 8% 8% 8% — % 12 8% Truax-Traerl b23c)_ 2 9% S , 9 , _ i4 40% 33’, 20th Cent Fox b50c. 3 37 36% 38% —1 17% 9% Twin City RT _ 1 lm. p>% im,+ •„ 26% 16% Twin Coach <bl5c>_ 8 19%. i*% i** 6% 2% Ulen & Co _ 1 31, 31 3,^ _ , 100% 76% Und-Ell-Fish bl %_. 6 89%, 89 89 — % 91% 63 Union Bag & P (2).. 1 76 * 76 76 _] 111 95 Union Carb (3.20). . 9 101% loo mu _o 28% 23% Union OiKCalif) 1.20 16 24 23% 23% — % 148% 126% Union Pacific (6) _ 4 137 a 135 137% -1% 99% 90% Union Pacific pf (4). 2 92% 92% 92% — i' 31% 26% Union Tnk Car 1.60. 1 27% 27 . 27% — % 35% 23% Utd Aircraft<a50c). 1 4 24% 23% 24%—-% 24% 15% Utd Air Lines a20c_. 5 16%, 16% ]6% — 1* •30% 23% Utd Biscuit (1.60)_ 1 24 24 24 91 69 » Utd Carbon (4)_ 2 83% 83% 83% — - 8% 4% Utd Corp <a20c)_ 34 4% 4% !%— i 46% 37% Utd Corp pf (3)_ 5 39 39 33 — , 16 12% United Drug (b25c). 14 12% 11% 12 _ % 26% 18% Utd Liyewood (1)_ 1 23%. 25% 23% — 1. 9% 5% Utd Elec Coal- 16 6% 6% “6%-% 63 46% Utd Eng & Fy f12)_. 2 47% 46% 46% -1% 864 77 United Fruit (t3)_ 3 80% 79% 80 -1% 17 12% Utd Gas Imp (1) 53 12% 12% m% _ • 16% 6% Unit Paper'bd b30c. 9 12% ll% 12 — a 20% 11% U S Distributing pf. 50s 17 16%. 16% _ % 34% 15% U S& For’n Secur_ 1 16 16 * 16 — % 34% 17% U S Freight (tl)- 3 17% 17% 17% _ % 13,i 105%. U S Gypsum <t2)_ 1 109 109 109 _i 23% 17 U S Hoffman_ 1 19% 191, 19% 43% 32% U S Indus Alcohol_ 2 33 * 33 33 _ t 15% 6% U S Leather vtc_ 6 9% g% 9 _ ,* 13V* U s LeatheriAlvtc. 1 16% 16% ]6% _ % 72% 52 U S Pipe & Fdry(3). 7 53% 51% 51% -2 19% 10 U S Realty & Imp... 4 11% ipt. 11., , _ 72% 44% US Rubber- 53 56% 551, 56l 118 84 U S Rubber 1st pf ... 8 89 88% 8S% • >' 126% 75 U S Steel- 185 98% 96% 08% -2% 15(1 131 U S Steel pf (7). 2 136% 136% 136% - % 9% 6% UnitStk Yds (50c)_ 2 7 7 7 _ ^ 8% 3% Utd Stores (A) ... 3 4% 4- 4%— 1., 21 19% Univ Cyclops Stlfl) 1 20 20 bo _ 1 164 142V* Univ Leaf T pf (I) 10s 144 144 144 108 70 Uni v Pictures 1st pf 20s 72 71 72 %2 4% 2% Util Pw&Lt <A)(d). 4 2% 2% 2% 2% 1% Vadsco Sales Corp.. 2 1% ]% ]•„ 39% 26 VanadiumCorp_ 6 28% 27% 27% —1* 12% 7% Va-Car Chemical ]0 9 9% 9 _ ■" 74% 5Ui Ya-Car c 6%, pf hi % 6 57% 56% 571 1 4 68 70 Vulcan Detin cb2) 80s 85% 85% 85% 10% 3% Wabash (d) _ ... 4 fi 5% 57, _ . 18% 9 \. abash pf (A) (d) 3 IP . ] p 1 1 " _ 19% 13 Waldorf Sysftl.20)' 4 13% 131, 13% — ■ ' 33 26% Walgreen Co (2)._. 3 26% 26% ■)«.%_/ 49% 42% Walker (H) (2)- 2 44% 44% 44% -1% 18% 11% Walworth Co _ 27 15 14% 15 _ 1 10% 5% Ward Baking (B)._. 6 6 5% 5% _ ■/ 18 11% Warner Bros Piet.. 81 13% 12% 13 _ ** 1** % Warner-yuinlancd) 2 % ■% % 12% 6% Warren Bros .... 7 8% 7% 7%-l% 38% 28% Waukesha Mot (1). 2 31 30% 30% -1 56 43% Wesson O&S <t50c). 4 48 47 47 _i 102 90% West Penn El A (7). 10s 90% 90% 90% — Vi 100% 87 West Penn El pf(6). 10s 86 86 86 —1 109 92 West Penn El pf(7) 110s 95 94 94 _j,_ 115% 110% West Pa Pwr pf (6) 110s 111% m i'n ..j 123% 118 West Pa Pwr pf (7). 10s 121 121 121 t-1 ll3* Western Maryland- 2 8% 8% 8% — Vi 23% 15% Western Md 2d pf— 4 16% 15% 15% _ ta 4% 2% Western Pacific_ 2 3% 31, 31^ _ lf| 11% 7% Western Pacific pf.. 2 8 8 8 — % 83% 54% VVestn Un Tel (3)_ 21 58 56 56 —o 57% 41% Westingh’se A B(l) 22 44 42% 4‘>%—2% 167% 130% Westhse Elec Cb2)„ 3 137 137 137 _3>a 170 143 West'se El 1st pf b2 30s 146 146 146 27% 19% VVestvaco Chlor (1) 1 21%. 21% 21% 65 38_ Wheeling Steel- 4 46% 45% 451" 7 33% 21% While Motor _ 11 23% 22% 23 —1 18% 14% White Rk M SCI.40) 2 15* 15 15 _ 1 6% 4% Wilcox Oil & Gas_ 14 . 5% 5% 5% _ a 12% 8% Wilson & Co (50c).. 11 9 8% s% _ s„ 60% 44V* Wool worth (2.40).. 14 46% 45% 45% _ .% 112% 81 Worth Pump pf (A). Ills 102 102 102 -4 128 90 Wright Aero cal)--. 20s 90 90 90 62% 48% Yale&Townec t60c). 1 50 50 50 —2 37 % 20V, Yellow Tr & Coach.. 87 25 23% 24 -p. 142 113 Y'ell Truck pf hli % - 40s 126 126 126 46% 37% Young Spr&WcTii). 1 38% 38% 38% — v. 101% 75% Ygstn S&T (b75c)_ 23 82% 81 81% -1% 40% 31 Zenith Radio Chi)--■ 3 33 32% 32% - % 9% 5% Zonite Products_ 2 5% 5% 5^ _ * Approximate Sales of Stocks on the N. Y. Stock Exchange] 10:00 A.M- 240.000 11:00 A.M_ 440 000 ' 12:00 Noon. ... 520.000 1:00 P.M._ 58o’o0l) Total Sales for the Day 750 000 Dividend rates as given in the above table are the annual rash payments baseo on the atest Quarterly or half-yearly dec?ararinn« , s.Umt of trading less than : 00 shares t Annua* ?ate not including extras, a Paid last year b Paid this ,ia7 x£rd^.dend.reP01ted ln reCelvershl» « being reorganized N.Y., S.&W. Files Petition Asking Reorganization By the Associated Press. NEWARK. N. J„ June 1.—The New York, Susequehanna & Western Rail road filed a petition in bankruptcy in Federal Court today to permit its re organization under the Federal bank ruptcy act. Judge William Clark ordered a hear ing on June 28. The railroad said it was unable to meet two bond issues, the principal of one, totalling $3,744,000, came due last January 1, and another for $447, 000 came due last February 1, the pe tition said. NEW YORK, June 1 (>P).—'The New York. Susquehanna & Western is a subsidiary of the Erie Railroad Co., with a main line extending from Jer sey City to Stroudsburg, Pa. -• BOSTON WOOL MARKET. BOSTON. June 1 (/P) (United Statps Department of Agriculture).—Interest in medium-grade fleece wools broadened to day. Frequent inquiries were received and a few mills made purchases. Recent sales included country-packed lots of Ohio and Michigan fleeces of combing and clothing lengths three-eighths and one-fourth blood grades together at ,'iP to 40W cents in the grease, delivered East. Some houses refused to take further orders at 40 cents and asked 41 cents, but soma house* have turned down 41 cent blda. NEW YORK COTTON By the Associated Press. NEW YORK, June 1. — Cotton lost about $1 a bale today under liquidation promoted by nervousness over the European political situation and rains in the Western belt over the three-day holiday. October sold off from 12.62 to 12.54 and was practically at the low for the day in midafternoon, when prices were about 19 to 21 points net lower. Business was quiet, however, with traders awaiting developments abroad. Futures closea steady, 7 to 10 lower. High. Low. Close. July _1 -1.7:{ 12.50 12.72-73 October -12.68 12.54 12.67-68 December_ 12.64 12.52 12.64 January _ 12.66 12.55 12.66 March _ 12.72 12,60 12.72 May 12.75 12 64 12.75 Soot quiet; middling. 13.22. Cottonseed Oil. Bleachable cottonseed oil futures closed firm, 9 to 13 higher. Sales, 107 contracts, Including 6 switches. July, 9.33; September, 9.36; October, 9.95b; December, 9.93, b—Bid. New Orleans Prices. NEW ORLEANS. June 1 —Cotton futures closed steady at net advances of 2 to 6 points. Open. High. Low. Close. July _ 12.54 12.6.2 12.50 12.6.2 October ___ 12.58 12.65 12.5.2 12.64 December 12.66 12.72 12.62 12.12 January _ 12.70 12.75 12.70 12.75 March _ 12.78 12.78 12.78 12.78 May _ 12.8.2 12.8.2 12.83 12.83 Cottonseed oil closed steady. Bleach able prime Summer yellow. 9.05b-10.15b; prime crude nominal. July. 9.45b: Sep tember. 9.50b: October. 9.50b; December, 9.44b January. P44b. b—Bid. a—Asked. Teagle to Become Board Chief of Jersey Standard Bt the Associated Press. NEW YORK. June 1.—Walter C. Teagle. since 1917 president of Stand ard Oil Co. of New Jersey, told stock holders at the annual meeting of the company that, effective immediately, he would assume the chairmanship of the board. He will be succeeded as president by W. S. Parish, former chairman. The 59-year-old executive said he wished to be relieved of his present duties in order to have more time for special work. Reviewing his incumbency in office, Teagle told stockholders that the year I preceding his election to the presi- ! dency the company's interests had produced 9,658.000 barrels of crude oil, while in 1936 the output was 206, 356,000 barrels. METAL MARKET. NEW YORK. June 1 UP.—Copper steady; electrolytic spot and future. 14.no; export. 14..'10. Tin easier: spot and near by. SO.lSVa: future. 55.87*2. Lead steady; spot. New York. 0.00-0.05; East St. Louis. 5.85. Zinc steady: East St. Louis, spot and future. 0.75. Iron steady; No. 2. f. o. b. Eastern Pennsylvania. 25.00: Buffalo. 24.00; Alabama. 20.00. Aluminum. 20.00* 21 00. Antimony, spot. 15.00. Quick silver. 97.00-P9.00. Platinum. 54.00. Wol framite. 22.00. STOCKS GO DOWN IN LIGHISELLING Losses of Fractions to Two Points or More Are Recorded at Close. Stock Averages . 30 15 15 CO , Indus. Rails. Util. Stks Net change.—1.9—1.3 —.4—1.3 Today close. 90.9 42 4 41 9 66 4 Prev. day... 92 8 43.7 42 3 67.7 Month ago.. 93.1 45.7 44.7 69.1 Year ago... 82.4 34 9 47.2 61.7 1937 high ..101.6 49.5 54.0 75.3 1937 low... 88 5 37.8 40.9 65 4 1936 high.. 99.3 43.5 53.7 72.8 1936 low... 73 4 30.2 43.4 65.7 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 (Complied by the Associated Press.) BY VICTOR EUBANK. Associated Press Financial Writer. NEW YORK, June 1.—Light selling pressure was sufficient to tumble stocks fractions to more than 2 points in today’s market. The proceedings were of a decided!? creeping character from the start and the ticker tape frequently was at a standstill. Lack of speculative and investment interest in recent sessions, brokers said, had much to do with discourag ing traders. In addition board rooms displayed more or less concern over the new Spanish crisis resulting from the Ger man bombardment of the port of Al meria, revival of gold price cutting rumors and the persistence of strikes among steel independents. Extreme declines were reduced in the final hour, but support was timid at the best and many issues closed not far from their low points of the day. Transfers were in the neighborhood of 750,000 shares. The President's message to Congress urging new teeth in the tax laws was in line with expectations and was thought to have had only moderate effects on markets generally. Steels and rails led the share re treat, closely followed by motors, rub bers, coppers, oils, utilities and spe cialties. Prominent losers included United States Steel. Bethlehem, Republic, Youngstown Sheet & Tube, Santa Fe, New York Central, Pennsylvania Southern Pacific, Great Northern, Northern Pacific. Baltimore & Ohio, Southern Railway, General Motors. Chrysler, Yellow Truck, United States Rubber. Goodyear, Goodrich, Anacon da, Kennecott, Cerro de Pasco, Amer ican Smelting, Phelps Dodge, Interna tional Nickel, Standard Oil of New Jersey, Texas Corp., Seaboard Oil, Pure Oil. Continental Oil. American Telephone, Western Union, Public Service of New Jersey, International Harvester. Oliver Farm. Boeing, Doug las Aircraft, Westinghouse, General Electric, Montgomery Ward. Sears Roebuck, Celanese, Loew s and Amer ' lean Radiator. -• CHICAGO GRAIN By the Associated Press. CHICAGO, June 1.—Despite tran sient setbacks that resulted largely from profit taking, wheat values ruled higher today. Some of the late buying of wheat was associated with preparation for June unofficial crop estimates to be issued here tomorrow. Late estimates of Canadian export business placed today's total at 1.000.000 bushels. At the close, wheat was 1 cent to 1tb above Saturday's finish, July, j 1.1378-l-l-»; September. 1.121 ^-1.12ss: { corn unchanged to 134 lower, July, 1.2134-1.2178: September, 1.09% | 1.091 and oats. 3s-58 off. WHEAT— Open. Hieh. Low Close July 117% 1M% Li 1% 1 l:i%-i 4 Sep. _ 1.11 1.17% 1.16% 1.17%-% I Dec. 1.11% 114% 1.11% 1.13%-% CORN— i July, new 1.77% 1.73% 1.70% 171%-% July, old 1.21 1.21 1.20 120 Sep. .1.10 1.11% l os% 1.119%-% Dec. _ .81 .81% .79% .80% OATS— July _.4.7 .4.7% .44% .44 s* Sep. -- ..78% .3!*% .38% .39% Dec. -.38% .39% .38s* .38% SOY BEANS— July _1.00% 1,60% 1.5P i 5J> Oct. -1.18% 1.1 8% i,is% 1 18% Dec. -1.19 1.19% 1.18 1.18 RYE— July _1.07% 103% .99% 1.01% Sep. _.88 ,88% .85% 87% Dec. . . .88% .90 .86% .88% BARLEY— June ___ .70 LARD— July _ 17 47 17 50 12 42 1" 50 Sep. _.12.60 12.77 12.60 12 75 Oct. _ 12.60 12.75 12.60 1"7" Dec. 12.60 12.72 12.57 12 67 BELLIES— ; July _ _ 16 so Sep. __ 16.95 _ _ 16.95 Chicago Cash Market. Cash wheat, no sales reported; corn. No. 2 mixed, 1.27%-28; No. 3 mixed, 1.26%,; No. 1 yellow. 1.28-281 •,; No 2 yellow, 1.27;2-28'2; No. 3 yellow. 1.26 27; No. 1 white, 1.28-28'2; No. 2 white, 1.28-28'2; oats. No. 1 white, 54'2: No. 2 white, 52'i-5334; No. 3 white, 51-52; rye, sample grade, 90; soy beans, No. 3 yellow, 1.59 U-61; No. 4 yellow, 1.56%.; barley, feed, 65-70 nominal; malting, 1.00-15 nominal; timothy seed. 4.25-50 per hundred weight: clover seed, 23.00-30.00 per hundredweight. Winnipeg Prices. WINNIPEG. June 1 —Grain ranee today WHEAT Previous Hieh. Low Close. close July i.*:4 A 1.-J1** i.2:va i.2i»i ^OATS— 1'li> 4 11~'3 1 15 1.12%-'. July .7.7% .53% .54% .52% Cash wh^t no. 1 Northern. 1.25% No. 2 Northern’Ll I %: No. 3 Non hern? 120%. Oats. No. 2 white. o7%; No. 3 white. O‘ ft. Inactive Securities We invite the Use of Our Facilities FOR FURNISHING QUOTATIONS AND Information on Inactive or obso lete securities. Johnston. Lemon & Co. MEMBERS WASHINGTON STOCK EXCHANGE Southern Bldg. DIst. 3060