Evening star. [volume] (Washington, D.C.) 1854-1972, June 19, 1937, Image 12

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Evening star. [volume], June 19, 1937, Page A-12, Image 12
About Evening star. [volume] (Washington, D.C.) 1854-1972

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Evening star. [volume] (Washington, D.C.), 19 June 1937. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83045462/1937-06-19/ed-1/seq-12/>

Newspaper Page Text

IN D. C. AFFAIRS
New Second Vice President
of Bankers’ Association
Heads Union Trust.
BY EDWARD C. STONE.
Orri Preston, recently elected second
vie# president of the District Bankers'
Association, is serving his sixth year
ns president of the Union Trust Co.,
to which position he was elected fol
lowing the retirement of the late E.
J. Stellwagen. For many years presi
dent of the Wash
ington Gas Light
Co., he has been
an active figure in
the Capital's busi
ness life over a
long period.
Although born
In San Francisco
as the son of an
Army officer, he
fame East in h;s
boyhood and ob
tained his educa
tion at Andover
Academy and
Yale University, - . _
M _ ... , Ord rrtsion.
from which he
graduated with an A. B. degree in
1899. His first financial experience
was secured in New York, where he
was connected with a Wall Street con
cern which conducted both a bank
ing and brokerage business.
Mr. Preston rame to the Capital in
1911. He became a director in the
Washington Gas Light Co., and in
1923 was elected vice president, being
elevated to the presidency a year later.
Although devoting all his time to bank
ing, he is still considered an expert
on utility matters. When made head
of the trust company, he had been
on the bank's board of directors for
about 20 years, much of the time a
member of the executive committee.
For the District Bankers' Associa
tion he already has rendered murh
valuable service as the head of im
portant committees and last year as
third vice president. At the White Sul
phur convention he was paid a high
tribute by Robert V. Fleming, who
placed him in nomination for his pres
ent office.
Hecht to Represent Rankers.
Rudolph S. Hecht, chairman of the
hoard of the Hibernia National Bank in
New Orleans and former president of
the American Bankers’ Association,
has been appoint
ed by Tom K.
Smith, president
of the American
Bankers’ Associa
tion as chairman
of the associa
tion’s representa
tion to the ninth
general meeting
of the Interna
tional Chamber
of Com m e r c p.
which w ill be held
in Berlin June 28
to July 3.
x. a. Hecht. Thomas ,1. Wat
son, president of
International Business Machine, will
be chairman of the American section
of the chamber. There will be repre
sentatives of 32 counties who will ex
change ideas regarding world economic
problems.
They will endeavor to improve the
economic relations bptween these dif
ferent countries and shape interna
tional policies.
Rank Stock Gains 5 Points.
American Security & Trust Co. stock,
which figured in a four-share sale on
the Washington Stork Exchange yes
terday, showed a gain of 5 points
aince the last previous sale. It sold
at 300.
In thP same session Mergenlhaler
Linotype reached a new low for the
year when it closed the week at 44r?i
after opening at 45. The day’s sales
were small, however, totaling only 20
shares, closing with 4312 bid and 45
asked.
Capital Transit closed the week at
10; also on a small turnover of 20
shares saw a bid of JHi, with 10'2
asked. Capital Traction 5s, selling at
fiS1*, made a particularly good show
ing in the bond division, advancing
Xrom other recent sales at 87.
American Telephone. Lanston Mono
type, Lincoln Service common and
preferred, Real Estate Mortgage <Sc i
Guaranty preferred and Peoples Drug
Stores common stock are being quoted
ex dividend in view of disbursement to
be made in a few days.
It is understood that the new Wash
ington Gas Light stock will be listed
on the exchange shortly after It is
issued. Polger, Nolan tz Co. and five
other investment firms in Washington
will place the issue on sale in the near
Xuture.
Higher Commissions Questioned.
The move started in New York to
increase commissions for investors
and traders doing business on the
New York Stock Exchange has caused
a lot of discussion in the brokerage
offices in Washington.
Advancing commissions is a very
delicate matter, in the opinion of the
majority of brokers here. The aim,
of course, is to increase revenues for
the exchange houses to offset the pres
ent lack of volume. It seems to be
ihe feeling here that any increase of
considerable amount might reduce
total trading and in this way put a
check on desired increased revenues.
6ome brokers go so far as to say that
It might be better to reduce commis*
sions while business is so quiet.
The suggestion that commissions
might be charged according to the
total funds involved in each transac
tion, rather than charging a certain
amount per share in the different price
ranges, is meeting no opposition here.
This plan might make the commis
aions easier to figure, especially for
the customer. Raising commission
charges, however, is like raising or
lowering street car fares. It is im
poasible to tell w'hat. the results will
be until the different plans are given
a trial.
FEDERAL LAND BANKS
NXW YORK June 19 OP).—Federal
land bank bonds:
Rate. Maturity. Bid. Asked.
4% Nov., 1958-38_103% 104
4% May. 1957-37_101% 101%
4 May. 1958-38_102% 103
4 Nov.. 1957-37_101% 101%
4 July. 1940-44_109 109%
3% May. 1955-45_102 102%
3 July. 1955-45_100% 101
3 Jan.. 1950-40 __100% 101
• May. 1956-40_100% 101
NEW YORK PRODUCE.
TOW YORK. June 19 (45 —Butter, 12,
•20; steady; prices unchanged.
Cheese. 105.567: Arm; prices unchanged.
•ggs. 26.287; steady. Mixed colors, un
changed.
Whites, resale of premium marks, 28-29;
nearby and Midwestern premium mark*.
26-27; exchange specials. 25: exchange
standards. 22: fancy mediums, including
premiums. 22-24: exchange mediums. 21%.
Other whites, all browns and duck eggs
Unchanged. —
Live poultry, by freight and bp'egpres*.
nominal. No Quotations.
Crossed poultry barely steady. AU fresh
and frosen prices unchanged.
A
TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE
Bv Private Wire Direct te The Iter.
All New Terk markcta are new en daylltht aavlat tlaae.
Prev 1937 Stock end Bale*— Met
Hlih. Low. Dividend Rate Add 00. tilth. Low. Cloae. aha*.
224 16 Adams Express b30< 4 164 164 154
804 644 Air Reduction (tl)_ 3 66 66 66 +4
54 24 Air-Way Electric_ 5 24 24 24 -4
154 11 Alaska Jun IT60c>_. 2 114 1>4 114-4
54 24 Alleghany Corp 9 24 24 24 +4
A A Allied Mllla <b2)rta 15 4 A 4
214 15 Allied Stores <b20c) 4 174 174 174
834 57 Allis-Chalm (bl)._. 2 604 60 60 -4
84 44 Amal Leather_ 2 44 44 44
754 59 Am Bk Note pf <!).. 30* 60 694 60 + V*
121 904 Am Can (t4)__ .. 2 944 94 9*4 +1
71 494 Am Car* Fy (b25e) 1 51 61 51 +1
324 28 Am Chain &Cb50c. 4 304 304 304+4
234 134 Am Colortype ... 2 144 144 144—4
304 204 Am Comol AJ aiOc.. 4 214 21 21 —4
134 74 Am Encaustic__ 2 74 .74 74
134 64 Am & Foreign Pwr_ 5 74 7 74
684 45 Am A For Pw S7 pf _ 1 50 60 60 —4
114 54 Am Hide A Leather. 8 64 64 64 + 4
524 404 Am Home Pr(t2.40). 3 414 414 414 +14
174 124 Am Internt] (atOc). 2 124 124 124
294 19 Am Mach A F 4 + 1»_ 1 19 19 19—4
684 434 Am Metals <b25c) . l 444 444 444 + 4
75 604 Am News (N 50 (3) 10* 62 62 62
164 7 Am Power A Light.. 16 84 8 fi
724 404 Am Pw A Lt pf (5). 1 454 454 454 +4
874 50 Am Pw A Lt pf (I).. 1 544 544 644 + V*
294 184 Am Radiator t60c._ 1 194 194 194— 4
45V* 314 Am Roll Mill (2) ... 11 344 334 334 —4
36 264 Am Safty Rat ftl). 1 28 28 28 + 4
29 22V* Am Seating (a2 4)- 1 24 24 24 + V*
1054 794 Am Sm & Ref (3) _. 6 85 84 4 844 -1
73V* 484 Am Steel Fdy <bl)_ 3 634 53 63 — Vi
264 154 Am Stores (bl4)._ 1 16 16 16 + 4
254 214 Am Sum Tob <t 1)._ 1 22 22 22 + %
187 1604 Am Tel & Telfk (9). 6 1644 1644 1644 — 4
99 73’* Am Tobacco (5) . .. 3 76 75 76 +1V*
994 744 Am Tobacco (B) 5 .. 5 78 77 78 +1
1504 1284 Am Tobacco pf (6).. 1 1334 1334 1334 — Vi
204 124 Am Type Founders. 6 134 124 124 — 4
294 15V* Am Water Wks SOc. 3 164 164 164 — V*
144 8 Am Woolen _ 1 fi4 fit* fiv* + 4
20 64 Am Zinc A Lead _.. 8 10 94 10
69'+ 474 Anaconda Cop b75c. 35 514 50 604 — 4
244 18 Anchor Cap (60c i . 10 234 22V* 224 — 4
134 7 Armour of Xll(b35c) 11 114 11 ll
704 57 4 Armstrong Cork(l). 3 60 60 60 — 4
244 164 Assoc Dry Goods_ 2 17 164 17 — 4
944 694 Atch T A 8 P#ta2).. 5 fil4 814 R14 —14
104 974 Atch T & S F pf(6). 2 984 984 984 -4
654 444 Atl Coast Llne<a1)_ 3 514 61 51V*
44 22 Atl G & W 1 pf(a3)_ 1 234 23 4 234 +14
37 27** Atl Refining <tl).__ 2 284 284 284 —4
184 15 Atlas Corp (80c)_ 8 154 154 154
524 504 Atlas Corp pf (S>... 1 504 60»» 504 + Vi
133 1134 Atlas Pwdr pf (5)._ 30*117 117 117
'J Auuurn auio ... J 1 Jh JaV* 15y* + H
9V» 5H A vimtion Corp Del_ 4 6W 6 fi — i,
11V, 4", Baldwin Boro (d) _ 20 ft', ft Vi SVi — 1,
120 SO Baldwin Locopf(d) 1 834, 831, 834* — S
9W 4S Baldwin asd <d) ... 21 44, 4V, 4V, — r4
40V-, 20", Baltimore * Ohio _. 13 27V, 264, 26", — »,
474, 29 s, BalLimore & Oh pf.. 2 31 304* 304,— 1,
HOW 100S Bangor A A pf <5)._ 10,503 108 103 d 14,
434, 284* Barber Co (b25c)_ 2 29'i 29'i 29Vi — W
32 23Vi Barker Bros _ 1 23V* 23V, 23V,
35W 24Vi Barnsdall (1). 2 25', 25', 2ft V* — 4*
30W 18Vi Bendii Aviat’n b50c 4 19', 1914 19'., — W
23», 204, Benef Ind Ln ib95c) 2 20', 20', 20V,
62', 47'i Best & Co (214) _ 1 48 48 48 — Vi
105W 73 Bethlehem SteeKbl 18 82 8!»i 81S + V*
20 18 Beth 53i pf <1) ... 1 18Vi 18V, 18',*- V*
129W 108 Bethlehem pf (71 1111 111 111 -,3
69-4, 51Vi Bigelow-Sanf'd bUi 1 52 52 52 + W
38 24 Black & Decker (1). 1 26',, 2«W 26Vi + ",
494, 28'4 Boeing Airplane ... 16 304, 30 30 — 4,
2W 11* Boeing rts July 1... 20 2W 2Vi 24* — 1,
28 23 Borden Co (1.601_ 2 234, 23 4, 23‘, + W
47 38;i Borg-Warner (2)... 1 44V, 44V* 44V, - w
4W IV* Botany Mines A(d). 1 u» lw 1W+ W
23V* 15 Bridgep't Brass(l). 6 16W 16'.* 16V. — V,
59W 39W Briggs Mfg (bl%)_ 1 414, 4IV, 414, + Vi !
53 18', Bklyn-Man Tr (4).. 37 204, 20 204,+ 4,
8 24, Bklyn ft Queens _ 3 3V, SVi 3V* — 4,
524* 26V* Bklyn Un Gasd.60) 2 28 28 28 -1
14H 7', Rudd (EG) Mfg ... 11 7% 71; 74;
13 7 Vi Budd Wheel b20e__ 2 74, 74, 7*, — 4*
45V* SI Bullard Co <b50c)__. 1 33V, rjw 33W 4- S
354, 24 Burr Add M (*0c)._. t 25 25 25 4,
114* 4'i Rush Terminal _ 1 5 5
9W 4W Butte Cop & ^(a5c). 1 ft', SVi ft',
334* 17W Byera tA M)- fi 19', 18V, 18V, _ v
34S 25W Bvron Jackson (tl). 1 27 27 27 +1
6', 24* Callahan Zinc-Lead 8 3vi .? 3
20V* 12 Calumet&Hec b75c— 7 134* ]3w 13W ~ ’»
38V* 24W Canada Dry G Ale_ 2 26',, 26s 26S — W
17V, 12', Canadian Pacific _ ft 12W 12W 12W
35S 30V, Carpenter Stl hi,35. I 30', 30V, 30W-1S
- * -M, - L ino — l '•*
41>, 26% Celanese Corp bl Vi- 16 36% 36% 36% — %
82% 73% Celolei Coro pft5). 60« 75% 75% 75% j
12% 6% Central Foundry 3 7% 7 7
14% 8% Century Rib M b20c. 1 9% 9% 9% + %
86% 69 Cerro de Pasco (4).. 2 63% 62% 62% -1
23', 11% Certaln-teed Prd ._ 16 12% 11% 12% +1
82 50% Certaln-teed of t«)_ 80s 49% 48% 49«, — %
111 108 Champion P pf (6).. 30, 108% 108% 108%
68% 52 Ches & Ohio t2.80 9 53% 5”% 5”% + %
13% «% Chi & Est 111 pf (d). 1 7% 7% “%
18% 10 Chi Grt West pf (d) 2 10% 10% 10%
32 24% Chi Mail Ord tl % _ 1 24% 24% 24%
3% 1% Chl Mil St P&P td>_ 5 2 2 2 + %
7% 3% Chi M St P&P pftd) 7 3% 3% 3%-),
33 21 Chi Pneumatic Tool 2 24 24 24 — %
3% 2% Chi R I A Pao (d) .. 1 2% 2% 2% + %
S', 4% Chl RIAP 6% pftd). 3 4% 4% 4% _ %
10% 4% Chl RI&P 7 % nf(d). 2 5 5 5
27% 14 Chl Yellow Cab <2)_ 1 15 16 15 — U
15% 9%ChlldsCo __ 1 10 10 in
135% 97% Chrysler Corp b3 Vi- 22 102 100% 100%+ %
21% 17% City Ice & Fuel (2). 1 18 IS IS -r %
10% 7 Cl tv Stores _ _ 1 7% 7% 7%
113 105 Clev El IIlu pf 4%_ 10* 103% 103% 103%
59 57 Coca-Cola A (3)_ 1 57% 57% 57% -1%
25% 17% Colgate-P-P< t60c). 3 19 187, 18%
30 15% Colo A South 1st pf. 30» 16% 16% 16% -1
20% 10 Columb G A El(40c) 8 11% 11 11«, + %
69% 56% Cornel Credit (t4).. 1 59% 59% 59% -r %
80% 63% Cornel Inv T (t4)__ 1 64% 64% 64%
21% 13% Cornel Solv tt«0c)_. 4 13% 13% ]3% — %
4% 2 Comw A Southern,. 28 2% 2% 2% — %
49% 3] % Cons Edis N Y (t2)_ 14 34 33% 33%+%
108 99% Cons Ed N Y pf(5)_. 2 101% 101", 101% - %
5% 2% Cons Film - 5 2% 2% 2% + V,
17% 14% Cons Oil <80c) _ 16 15% 15% 15%
1% % Cone Textile 4d >_ 9 % % %
52% 33 Cons Coal Del vtc pf 60s 38% 38 38% +1%
37% 20% Container Corp 1.20 3 28 27% 27% — %
If, W Contain rts June 28 11 ^
37% 18% Conti Baking (A 1... 4 20 19% 19%
5% 2% Conti Bakina (B)_ 2 2% 2% 2',
69% 50 Conti Can (3) 3 51% 51% 51% _ v,
25% 19 Conti Diamond (2)_ 3 19% 19% 19% + %
3% 2 Conti Motors _5 2% 2% 2% + %
47% 39% Conti Oil Delrftl)._ 7 43% 43% 43%+ %
77 62% Corn Ex Bank (3)__ 70» 64 63% 63%—%
7Hi 54% Corn Prod Ref 4+3)_ 4 69% 58% 59% _ %
,10V* 6 Coty Inc_ 4 7% 7 7
56% 41% Crane Co__ 6 43% 43 43%+%
105’% 100% Crane Co cv pf (5)— 9 101% 101 101%+.%
121 113% Crane Co pf (7) _ 2 116% 116% 116%-’%
28»i 18% Crosley Radio al Vi- 2 20 19% 19%
25% 17 Crown Zellerb_ 24 18% 18 18 —Vi
KIV, P. 1 Primlkl. Cta.l 1 C 1 e , e.
3 1% Cuba Co _ 6 1% 1% i%
14% 7% Cuban-Am Sugar_ 3 8% 8% 8% — %
20% 8% Curtis Publishing._ 4 10% 10 in — %
8% 5 Curtiss-Wright _ 7 5% 514 6% — %
23% 16% Curtiss-W (A)aSOe. 6 17% 17 17% + %
18% 13% Daveza Storesi tl).. 1 12% 12% 12% — %
109 100 Dayton P&L pf 4 %. 10» 104 104 104 — %
137% 104% Deers ft Co .. 1 128% 128% 128% + V*
31% 26% Deere* Co pf 1.40.. 1 27 27 27
24% 15% Del Lack* Wsst 9 16% 16% 16% + %
10% 4 Den * R G W pftdl. 1 4% 4% 4%
23 14% Diamond T Mot (1). 1 15% 15% 15%—%
29 20% Distil Corp Seag .. 10 22% 21% 22 + %
41% 35 Dixie Vortex A 2%. 20» 34% 34% 34% — %
77% 47% Douglas Aircraft .. 12 58% 57% 57% + %
122 112 Duplan Silk pf (S) .. 10a 114% 114% 114% +2
1R0% 148% Du Pont de N(b2%) 5 153% 152% 153
17 9% Eastern Roll Mills.. 2 10 10 ]n + %
16 9% Elec Boa* (a60c) __ 2 9% 9% 9% — %
26% 14% Elec Pow ft Light _ 18 17% 16% 16%
44% 33% Elec Storage Bat (I) 2 35 35 35 + V*
23% 13% Erie RK 5 15 14% 14%-%
14% 7% Eureka Vacuum__ 3 7% 7% 7%
34% 21% Evans Prod (tl)_ 1 21%, 21% 21%—%
6% 3 Exchange Buffet_ 2 3 3 3 — %
5% 3% Fairbanks Co__ 60s 3% 3% 3%
28 20% Fairbanks Co pf_ 20* 24 22% 24 +1%
71% 49% Falrb'ks-Morse (tl) 1 52% 52% 52%
129 94% Fed Min&Sm pf (7). 1 100 100 100
11% 6% Federal MotorMOc). 2 6% 6% 6% — U
6 3 Fed Water Svc A.__ 2 3% 3% 3% 4. 1*
46% 26% Flintkote Co (1»___ 1 29% 29% 29% +lii
i*% 7% Francisco Sugar_ 1 8% 8% 8% — %
82% 24% Freeport Sulph tl)_ K 26% 26% 25% — %
13 11% Gair (Robert) pf 4 12% 12% 12%—%
39 39 Gair (Robt) pf (3).. 1 39 39 39
15% 10% Gen Am lnv(a76c)_. 1 11% 11% n%
14 7% Gen Bronze _ 1 7% 7% 7% — %
65 39% Gen Cable (A)_ 3 45% 45% 45% +1
52% 35 Gen Cigar tt4)_ 1 35 35 35
64% 49% Gen Electric (bSOc). 22 53% 52% 52% — %
44V* 36 Gen Foods (2) . 11 37% 37 37%+ %
3% 1% Gen Gas A Elect A > 5 1% 1%
64% 48 Gen GAE 6% ev pfA 20e 48 48 48
70% 48% Gen Motors <bl% ).. 47 50% 49% SO — %
122% 113% Gen Motors pf (5) 1116 116 116 +1
5% 3% Gen Pub Service._ 3 3% 3% 3% — 14
5% 3 Gen Realty A Util_ 2 3% 3 3
70V* 55 Gen Refract (b2)— 1 58% 58% 58%+%
20% 14% Gillette S Ras «tl>- 2 14% 14% 14%—%
61% 41 GliddenCo (t2)_ l 44 44 44
8V* 5% Goebel Brew(t20c). t 6% 6% 6% + %
50% 3t Goodrlch(BF) bSOc. 13 39% 39% 39% — %
47% 27% Goodyear T A R bl_ 16 38% 38% 38%+%
4% 8 Graham-Paige- 7 3% 3% 3%
15 6% Granby Cons- 2 8% 8% 8% - %
5% 2% Grand Union ctfs_- 1 2% 2% 2% — %
66% 40% Grt Northern pf__ 7 61V* 61 61 — %
28% 19 Grt Northn Ore (1)_ l 20% 20% 20% - %
42% 34 Grt West Sug t2.40. 2 35 35 35
16% 12% Greyhound (t80c).. 8 14 14 14
4% 2 Guantanamo Sug.. 1 2 2 2 — %
34% 29% Hackensack W b76a 1 28% 28% 28% — %
36 26% Hack W pf A (1%) 80» 31 30% 31 +1
106% 95% Hat pf *w _ 1C» 96% 96% 961*
Prev. 3 0.17 Stock and Bale*— Mat
Hlih. Low. Dividend Rata. Add 00. Blah. Low. Cloae. chaa.
8 4 Hayes Body- 2 4* 4* 4*
15* 11* Hecker Prod <t*0e). 6 11* 11* 11*
120*105 Holland Fur pf(6)_. 10a 105 105 105 +1*
431 336 Homeatake m2)_ 80a 389 387 389 -1
27* 18* Houd-Hor B (tl*). 1 19* 19* 19*+*
17* 12* Houston Oil vte- 8 14* 14* 14*-*
90* 62* Hows Sound (t2)_ 2 72* 72* 72*-1
6* 2* Hudson A Manhat._ 1 2* 2* 2*
15* 7* Hudson A Man pf__ 1 7* 7* 7*
23* 18* Hudson Motor_ 4 14* 14* 14* + *
4 3 Hupp Motor- 1 3* 8* 8*
38 21* Illinois Central__ 2 23* 23* 23*—*
47* 35* Indus Rayon (2)_ 4 36* 36* 36*+*
131* 34 Inland Steal (t4)_ 1 104 104 104 -*
33* 17* Inspiration Cop_ 8 22 21* 21*-*
6 4* Insur Sh Md (blOr). 3 4* 4* 4*
13* 6* Inter Rap Tr vtc(d) 2 6* 6* 6* + *
28* 16* Interlake Iron_6 IS* 18* 18*— *
9* 5 lntl Agricultural_ 2 6* 6* 5*
112* 99* lntl Harvesters^) 3 107* 107* 107*
16* 8* lntl Hydro El A 2 10* 10* 10*
15* 6* lntl Mercantile M- _ 8 9* 9* 9*-*
18* 10 lntl Mining (b»0c)_ 2 H U 11
73* 65* lntl Nickel (bl)_ 24 68* 68 68 - *
24* 16* lntl Paper (A)_ 1 17* 17* 17*
18 10* lntl Paper <B)_ 1 12* 12* 12*-*
9* 6* lntl Paper (C>_ 3 6* 6* 6* + *
15* 9* lntl Tel & Tel_ 15 11 10* 10*-*
36* 20* lntentat Dp St b2* 1 23* 23* 23*-*
30 26* Island Creek (2).... 1 28 28 28
155 120 Johna-Manv <tj)_ 1 124 124 124 -*
136 118 .Ton&L 7% pf b3* 60a 119* 119 119
29 16 Kens City South._ 4 16* 16* 16*+*
19* 9* Kalsey-H B (al*>_ 1 9* 9* 9*-*
69* 61 Kennecott Cop bl *. 10 65* 65* 65*-*
71 47* Kinney pf (al) . 10a 50* 60'* 50*+*
147 105 Kresee D S pf(b20). 10a 115 116 116 -i 8*
29* 20* Kresge (S S> b60c-. 4 21* 21 21
47* 33 KressS H (1.60)_ 2 33* 33* 33*+*
24* 18 Kroger Groo m.«0) 6 20 19* 20 +*
3* 1* Lehigh Valley Coal- 6 1* 1* 1*
18* 9* Lehigh Val Coal pf- 1 10 10 10
24* 14 Lehigh Valley R R.. 3 15 14* 14*-*
43* 36 Lehman Corp'n(tl) 4 39 39 39 + *
79 61* Llbbey-Ow-F b75c . 10 62* 62 62 - *
15* 9* Libby McN AL(al). 1 11* 11* 11*-*
114 94* LtggA MyeraBt*.. 3 97 96* 96*+*
176 151 Ligg* Myers pf(7). 1 158 168 158
83* 69 Lima Locomotive_ 2 63* 63 63* + *
53* 43* Liquid Carb (2.60).. 2 47* 47* 47*+*
84* 64* Loew’s ine (t2)_ 6 76 75* 75* — *
3* 2 Loft Inc _ 1 2* 2* 2*
io>4 uuiic oiai «.em *«»/.... oo •j'ivi on t n
1474 135 Lorillard P pf (7) . 10.1354 1354 1354+4
284 19'4 Louis GAEA b374« l 20 20 20 t 4
41V* 294 Ludlum Steel (til- 2 314 314 314 +4
36 304 MacAndrewAF(t2). 1 31 31 31
424 324 McIntyre Porcu(2)_ 1 34 4 344 344 + 4
16V* 124 McKeeeon A Rob... 7 14 134 13V.
62V* 41 Mack Trucks (tl)-_ 5 414 41 414 +4
63 45 Magma Copper (2)_. 1 45V* 454 45V* — V*
30 15 Manatl Sug pf (d)_40. 15 15 15
144 94 Marina Mid It40c).. 2 10 10 10
39 244 Market St Ry pr pf. 10. 254 254 254 -14
294 194 Martin (Glens) ... 2 214 21 21 -4
41V* 324 Mathleson Aik (IVi) 2 344 34 34
15V, 8 Maytag Co (a&Oe)_ 19 9 9
264 144 Miami Copper_ 3 174 164 164 - 4
354 254 Mld-Cont Pet (b50c) 2 274 264 264 +4
34 234 Mission Corp (bl).. 1 26 26 26
94 54 Mo KansATexas .. 1 64 64 64 -4
34V. 21V* Mo (Cans A Tex of A 3 224 224 22V* - 4
12V* 6V, Mo Pacific pf (d) .. 2 74 74 74
101 85 Monsanto Ch (bl).. 1 86 86 86 —Vi
69 48 Montg Ward »T2) __. 20 544 54 644 -4
3Vi 4 Mother Lode a124c 6 IV* 14 14
384 284 Motor Prod (bl%).. 3 294 28V. 28V. - V*
394 20 Mullins B (a50e)... 1 21 21 21
36V, 24 Munslugwear (S)_ 1 24 24 24
204 104 Murray Corp(a50c). 2 114 114 114 + 4
24V, 164 Nash Kelv (1)_ )3 17V* 174 174+ V.
24 174 Natl Acme <b2S«) .. 2 18V* 18 18
184 114 Natl Aviation (sl)_ l 124 12V* 12V* + 4
334 224 Natl Biscuit (1.60). II 23V4 234 234 -4
384 29V. Natl Cash Reg (1>— 4 334 33 33Vi + 4
264 21 Vi Natl Dairy Prd 1 20. 2 22 214 214
104 64 Natl Dept Stra pf... 30, 74 74 74
35 274 Natl Distillars(tt). 4 294 294 294 - 4
184 12 Nat'l Gypsum Co... 7 134 13 13
44 304 Nstl Lead (t60c).._ 8 32V* 324 324 - Vi
14V* 84 Natl Pw A Lt (60e). 1 94 94 94 +4
1 4 Natl Ry Msx 2d pf__ 2 4 4 4
944 70 Natl Steel (t24)— 9 784 77V, 774
124 64 Natl Tea_ 1 7V* 7V* 74+4
134 9V* Natomas (t30c)_ 1 10 10 10 +4
414 28 Newport lnd(b50c). 4 31 304 304 — 4
65V* 374 NY Central_ 41 394 384 384 —4
72 41 N Y Chi A St L_ l 534 634 63Vi + 4
254 124 NY Dock pf_ 30. 14 134 14 -r 4
2 4 N Y Investors (d)_ 1 4 4 4
94 34 NY NH A H (d)_ 18 34 34 34 -4
264 12V* NY NH A H pf (d).. 3 134 134 1IV. - 4
64 24 N Y Ontario A W 1 24 24 24 + 4
154 84 N Y Shipbuilding_ 2 11 11 11 -r 4
1024 634 N Y Steam pf (6) . .. 70. 80 79 80
1 ioi H *> v • tt c i ___ . a » i\ on. orti o»ii • o#vt- ■ 1
4** 2 Norfolk South (d)_. 2 2% 2S 2% — %
17*. 9% North Am Aviation 4 114* 114, 114, - S
34’, 21 Norih Am Co (b60c) 15 23V, 23 23S + 4*
104', 97’* North Am Ed pf (*) l 98 98 98
36*, 27V* Northern Pacific ... 15 304* 29’* 29'* — 4*
63', 47V* Northwest Tel (31.. 20, 47V, 47V, 47V, -1
6’, 3Vi Norwalk Tire A R_ 11 4 3»* 34*— i*
22’, 171* Ohio Oil (baOc)_ 7 19 184* ]8% - %
73 63V* Oliver Farm Equip- 1 60S 60S 60S —l7*
26V, 13S Omnibus Corp rte._ 1 14 14 14 — V,
45V* 334* Otis Elevator b40c_. 2 39S 39S 394,
245. 14% Otis Steel _ _ 4 17 164* 16**- 1*
964, 82H Owens-Ill Glass (J) 2 90S 90 90
155, 64* Pacific Coast .. 80* 7 7 7
38 28S Pac Gas AElec (2). 2 28S 28S 28S
53% 41 Pac Lighting (SI... 1 41 41 41-4,
44’, 26S Pacific Mills (bl)_ 1 27 27 27 + 4*
124* 7’* Packard Mot (blSc) 22 8S 84* 8Vi + 4*
121 60 Panhandle PAR pf.. 20, 1004, 1004, 100S - S
28** 16H Paramount Pic_ 14 184* 18 18 - S
84, 4 Park Utah.. 1 44* 4V* 44i - 4*
44** 37 Parke Davis(bl.40). 1 37 37 37 - S
294, 23 Parker Rust (tl %). 1 234* 234* 235i + S
74* 2*i Parmelee Trans . 3 3S 3S 34, + S
10V, 64* PaLha Film Corp__ 2 6S 6‘, 64,— y*
23’/* 14S Patino Mlnea(t60e). 1 145* 144* 144*
1034* 85 Penney J C)(4)_ 1 87S 87S 87',, - V*
124, 544 Penn Dixie Cement- 3 6 6 6
50V* 36S Penna R R. (b5flr) . 6 37S 37S 37S - 4*
1)64* 112S Peoples Dpf (644) 20*115 115 115 +1S
21S 16V, Petrol CorpiA) b40e 1 17S 174* 174*- S
134* 7S Pfeiffer Brew b60e„ 1 8V* 84* 84* -r 4,
595, 40 Phelps Dodge b80r . 4 44*, 444, 44S — 1 Vi
it V* PhelpsD rts J une23 103 44 A A
54', 40 Phila Co6% pf (3). 2 40 394, 40
14 8 Phiia Rap Tr pf(d). 10* 844 8V* 84* + y*
3S 1 Phila AReadCAI 1 IS IS IS
59V* 49S Phillips Petrol’m tl 6 54S 534* 64S + S
20 12 Pitts Screw (b30c). 1 13S 13S 13S - V,
43 245* Pitta Steal.._ 1 26 26 26
122 85 Pitta Stael pf _ 20* 85S 854* 854*
294* 24V* Plymouth Oil b70c_. 2 26V* 26V, 26V* — Vi
33V* 21% Poor A Co (B) 2 22S 22S 22S - S
1154 4V* Porto R Am Tob A.. 15 6 5
15S 7% Postal TelACpf(d). 2 7% 7% 7** + S
oivs 11« rrwsta oieu l i»v» mve x»v» + *
66* 55* Proctor A Garnet**. 2 58 58 58
118* 114* Proc A Gamb pf !5> 10» 117* 117* 117* + *
52* 36* Pub Sve N J e2.«0)_. 8 37* 37V, 37*+*
112* 11)0 Pub Sve N J pf (6).. 2 100* 100* 100* + *
72* 52* Pullman Ine el*)_. 7 53* 63 63*+ *
24* 16*Pur#OU- 60 17* 17* 17* + *
12* 7* Radio Corp_ 20 8* 8 8 -*
80 63 Radio 1st pf (3*1 .. 3 64* 63* 63* -l
10* 6* Kadlo-Kelth-Or (d). 4 7* 7* 7*
4* 2 Reia (Root) _ 1 2 2 2 — *
22* 16* Reliable Stores (1)_ 1 18 18 18 +1
29* 21 Rem-Rand (b55c) — 1 22* 22* 22*
94* 80 Rem-Rd pf ww 4* — 2 83 81 81 —1*
9* 5 Keo Motor Car—_ 2 6* 5* 6* — *
47* 27* Republic Steel 19 34* S3* 34* + *
34* 16* Reynolds Spr ftl>— 1 18* 18* 18*—*
68 49 Reynolds Tob B (J). 2 50 49* 60 + *
9* 3* Rutland R R pf- 1 4* 4* 4* + *
46 31 Safeway Stores! 12) 2 34 34 34
66 43* St Joseph Ld (+2)4 65* 56* 56*+ *
4* 2* St Lr-San Fran id).. 2 2* 2* 2*—*
61* 39* Schenley Diet bl*— 1 39'/* 39V, 39*—*
3* 1* Schulte K Strs (d> -. 6 1* ]* ]*
8V, 4* Seaboard A L pfed). 1 4* 4* 4*—*
95* 81 Sears Roebuck fJ)_ 9 88* 88* 88*
14 9* Sharpe A Dobme 1 10* 10* 10*+ *
34* 25* Shell Un Oil Ia25c). 15 27 26* 26*—*
68 40 Simmons Co (b50c>. 4 46 45 45
60* 42 Skelly Oil (b60c)- 2 55 64* 64*-*
20V* 16* Socony-Vac (b26c). 37 19* 19* 19*
6* 3* South Am G A P 30e. 1 3* 3* 3*
32* 22* So Cal Edison tl*.. 1 23* 23* 23*—*
65* 42* Southern Pactfle- 7 46* 46* 46* — *
43* 24 Southern Ry- 12 32* 31* 31* - *
60V, 41 Southern Ry pf- 6 45 44* 44*+*
i>v4. iva- iijiuiB •» iy» ova ova ~ ti
36 30% Spencer Kell <1.60)_ 1 31 31 31
23% 16 Sperry Corp ttc(al) 4 17% 16% 16%
28% 19% Spiegel, Ine fl)- 2 21% 20% 20%-%
95V, 81% Spiegel cum pf (4%) 30» 82% 82% 82%+%
48% 37% Square D (B) b85e x 2 38% 38% 38% + %
16% 11% Stand Brandai t80e) 11 12 11% 12
12% 6% Stand Com Tobae__. 38 7% 7 7% + %
14% 5% Stand Gas A El (d)_ 6 6% 6% 6% + %
32% 13 Stand GAE14 pf«d). 2 15% 15% 15%
72% 36% stand GAE 87 pf (d). 2 42 43 42 +1
50 39% Stand Oil Callf(tl). 7 41% 41% 41%+%
50 40% stand Oil Ind 4*1 >_ 4 42% 42% 42%
76 63% Stand Oil N J (tl)— 10 66% 65% 65%—%
21 17 Stewart-Warn tBOo. 2 17% 17% 17% + %
33% 17 Stons A Web(aJ6c). 6 19% 18% 18%-%
20 12 Studsbaksr Corp- 9 13% 13 13 + %
125 118% Sun Oil pf (C)- 10*121 121 121 +2%
61% 39 Superheater (1%)_. 1 39 39 39
7% 4% Superior Oil- 10 4% 4% 4%
47% 29% Superior Steel__ 1 30 30 30
39% 32 Sutherland P tl.60.. 1 32% 32% 32% + %
28% 21% Swift A Co <tl.20K. 2 22% 22% 22%-%
33% 29% Swift Internatl (2). 1 30 SO 30
23% 16% Symington tw blOo. 1 18% 18% 18%+%
17% 11% Symington xw blOa. 8 13% 13% 13%+%
15% 10% Tslcott (f) 60c- 1 10% 10% io%-%
15% 10% TsnnCorp (Sl6e)— 2 11% 11% 11%+*,
66% 50% Texas Corp <2>_ 25 68V, 57% 57%-—%
9% 6% Texas Gulf Pr ate— 5 6% 6% 6%
44 33% Texas Gulf Sul <t«». 6 34% 34% 34%-%
15% 10 Texas P L.T lalOo). 3 10% 10% 10% - %
k 13% 7% Therm old Co_As 8 g s
f\ ( '
Free. 1937 Stock and Salta— Mm
■1th. Low. Dividend Rata. Add 00. Blih. Low. Close. chse.
8k 3k Third Avanua__ l 8k 3k 3k 4 k
28k 28 Thomp Prod b90e .. 4 28k 25k 26k +1
10k 3k Thompson Starred. 4 4k 4k 4k + k
21k 15k Tide Wat AsOUSOo 4 16k 16k 16k 4 k
79 66k Tlmk'n Roll BrgrM) 3 67 67 67 + k
17k 12k Transamerlca T40o_ 16 13 13 13
22k 13k Trans Wat Air a2Se. 1 14k 14k 14k + k
Ilk 7k Trl-Cont'l (b25c)_ 18 8 8
40k 33 20th Cent Fox (bl). 1 34k 34k 34k - k
17k 8k Twin City RT . . 2 9k 9k 9k
94 66 Twin City RTpfbl 30» 75k 76k 75k
26k 16k Twin Coach <bl6c)_ 1 18k 18k 18k - k
6k 2k Ulan A Co.. 1 2k 2k 2k + k
9lk 63 Union Back P (2).. 2 76 76 76
111 95 Union Carb (3.20).. 1 09k 99k 99k - k
28k 23 Union OiHCallf )1.20 3 23k 23k 23k - H
148k 126k Union Pacino («)... 2 130 129k 129k
36k 23k Unit Aircraft b50c . 9 28k 26 26
24k 14k Utd Air Lines a20e. 2 16k 15Vi 16k + k
30k 22k Utd Biscuit (1.60).. 1 23 23 23
91 69k Utd Carbon (4)_ l 81k 81k 81k
8k 4 Utd Corp (S20o)_ 11 4k 4k 4k
46k 32k UtdCorppf (I)- 1 36k 36k 35k 4 M
16 11 United Drug <b25e). 3 Ilk 11k 11k 4 k
26k 18k Unit Dyewood tl)-- 4 22k 21k 21k + k
9k 6k Utd Elec Coal_ 3 6 6 6
17 11 Utd Gas Imp (1) — 12 12 Ilk 12 4 k
16k 6k Unit Paper’bd bJOc. 1 9 9 9 — k
137 103k U 8 Gypsum !t2) — 1 105 105 108 — k
43k 28 U 8 Indus Alcohol-. I 29k 29k 29k — V»
15k 6k U 8 Leather vtc_ 1 8k 8k 8k — k
22k 13k U S Leather! A )vte. 3 15k 15k 15k
112 89 US Leath pr pf b5k- 1 102 102 102 —Jk
72k 44k U 8 Pipe* Fdry(l). 3 49k 49k 49k 4 k
72k 44k U 8 Rubber.__ 6 57 56k 56k — Vt
118 81 Vi U 8 Rubber 1st pf_ 2 85 85 85
126k 75 U 8 Steal- 57 96k 95k 96k - k
150 126k U S Steal pf (7)- 2 133k 133k 133k 41k
9k 5k Unit Stk Tda I60e)_ 11 6k 6 6k + k
8k 3k Utd Stores (A)_ 1 4k 4k 4k
4k lk Util PwftLt !A)(d). 1 lk lk Ik
Prey. 1937 Stock and Salta— Nm
■ifh. Low. Dividend Rat*. Add 00. Mich. Lew Cloaa. chca.
39% 2414 Vanadium Corp- 3 26% 26% 26%-%
12% 7 Va-C«r Chemical_ 4 7% 7% 7% _ v«
116 106 Va El 4k Pw Of (6).. 10a 106% 106% 106%
18% 9 Wabaeh pf (A)(4).. 1 9% 9% 9%
19% 18 Waldorf Sys(tl.lO). 1 13% 13V4 13%-%
33 26% WalffMn Co 48)- 1 25% 25% 25%
49% 42% Walkor (H) <J)- 2 47% 47% 47% - %
18% 11% WalworthCo- 6 14% 14% 14%+%
18 11% Warner Broa Piet— 11 12% 12% 12% - %
46 33% Warran rdyftP(tl). 3 38 38 38 + %
100% 33 West Penn El pf<6). 10e 86% 86% 86%+%
109 90% Weat Penn El pf(7). 20e 93 93 93 +1
116% 110% Woet Pa Pwr pf (6). «0a 111% 111% 111% + %
123% 118 Wait Pa Pwr pf (7). 10* 120 120 120
30% 24% W'n Auto Sup 1.60 .. 2 26 25 26 + %
11% 7% Western Maryland. 3 7% 7% 7% — %
83% 49% Wealn Un Tot (>)._. 12 60V, 60 60% -1
67% 40% Weetlngh’ee A H(l) 6 42% 42% 42%+%
167% 130% Weathee Elee <b2).. 1 138% 138% 138% - %
27% 19 WeitvacoChlor (1). 4 20 20 20
66 38 Wheeling steal_ 1 46% 46% 46%
33% 20 Whlto Motor_ 2 21% 21% 21%
6% 3% White Sewing Mach 2 3% 3% 3%
46% 26 White Sew Mch pf.. 2 26% 26'% 26%+ %
6% 4% Wilcox 01)44 Gee ... 1 5 5 6 + %
12% 8% Wilson 4k Co <60c).. 6 9% 8% 3%
66% 44% Woolworth <2.40)_ 6 46 45% 45% — %
112% 81 Worth Pump pf(A). 80a 92% 92% 92%-1%
62% 48 Yale4kTowne(t60e). 2 60 60 50 + V,
37% 20% Yellow Tr 4k Coach.. 15 23% 23% 23% — %
142 113 Yell Truck pfb3%_. 40a 123 123 123
101% 74% YgatnS&T <b76c>_ 7 82 80% 80Vi + %
40% 80 Zenith Radio (bl)_ 1 31 31 31
Approximate Sales of Stocks on the N. Y. Stock Exchange.
11:00 A.M... . 110.000 12:00 Noon. .. . 220,000
Dividend rates e* elven In the above table are the annual
eaih oavmenta baaed on the lateat quarterly or halt-yearly dec
laration!
aDr.lt of tradlnx laas than 100 nharea. 'Annual rate—
not Includlm extra*. a Paid la*t vear. b Paid thl* year,
d Companies reported In raeelTerahln or beini reorxanized
COTTON RECOVERS
Losses of Slightly More
Than $1.50 Wiped Out
Later in Week.
Br the Associated Press.
NEW YORK, June; 19.—Lomu* of
•lightly more than *150 a bale In
cotton early this week were later re
covered when reaUtance was encoun
tered at 11’4-cent baala.
Favorable weather, dullness In tex
tile markets and nervousness over the
French financial situation were fac
tors causing liquidation that carried
October off from 12.16 to 1! 79 That
position later rallied to 12.13 and
closed yesterday at 12.09.
Prices sold to the lowest levela since
last February, but increased trade
price fixing and covering developed at
this basis. The rally reflected a
firmer technical position as well as
leas favorable weather later in the
week when continued rainfall in
some sections brought complaints of
too much moisture.
Demand tapered off, however, as
prices went above the 12-cent level
and as the week closed trading be
came quieter as fresh developments
were awaited. Although there were
complaints of too much wetness in
Western Tennessee, Arkansas and
Oklahoma, and of damage from hail
and wind in parts of Texas, crop
progress was generally lavorabie over
the belt.
Except for occasional inquiry, busi
ness in spot cotton failed to improve.
The Commodity Credit Corp. an
nounced that from June 25 to Janu
ary 1, 1938, cotton could only be ob
tained from loan stocks at full Joan
prices plus carrying charges. Primary
cotton goods markets were dull.
May cotton consumption in the
United States was reported by the
Census Bureau at 669,460 bales, com
pared with 718.947 in April and
: 530,894 in May last year.
NEW YORK COTTON
By th* Associated Preen.
NEW YORK. June 19.—Cotton fu
tures opened steady, 5 higher to 1
lower. Influence of higher Liverpool
cables was partly offset by week end
liquidation. July, 12.09; October,
12.13; December, 12.10; January,
12.13; March. 12.18; May. 12.23.
The market was quiet with traders
not inclined to make fresh commit
ments for over the week end. Fallow
ing the call prices sagged a few points
under local liquidation owing to a
rather favorable view of the weather,
especially in the Western belt where
practically no rainfall was reported.
Prices moved over a narrow range
in exceptionally quiet trading and
shortly after the first half hour Octo
ber, which had sold off from 12.14 to
12.10, was 12.13 and prices generally
were 4 points net higher to 2 lower.
A weekly Dallas newspaper report
said Texas cotton was growing perhaps
too rapidly and weather conditions
favored Insect increase.
Liverpool advanced on weevil com
plaints from the Eastern cotton belt.
The Commodity Credit Corp. reported
releases of 100,278 bales of loan cot
ton during the week.
Futures closed barely steady. 8 to IS
lower.
_ . High. Low. Last.
July -- . 32.09 11.94 11.94-9R
October __ . 12.14 12.no 12.01
December. 12.12 11.99 11.99-12.00
January-. 12.13 12.01 12.91
March . . 12.18 12.OR 12.OR-07
May - 12.23 12.12 12.12
Soot auiet; middling, 12.44.
Cottonseed Oil.
Bleach&ble cottonseed oil futures
closed barely steady, 4 to 7 lower. Sales,
75 contracts. July, 9.09; September,
9 07b; October, 9.05; December, 8.97;
January, 8.99. b—Bid.
GENERAL MOTORS SALES
ABROAD EXCEED 1936
Special Dispctch to Tht Star.
NEW YORK, June 19.—Sales of
Oeneral Motors cars and trucks to
dealers In the overseas markets during
May totaled 33,306 units, representing
an increase of 7.4 per cent over the
volume in May of last year.
In the first five months of 1937 sales
of 154,609 represented an all-time
high volume for that period and an
Increase of 5.4 per cent over the volume
in the first five months of 1936. For
the 12 months through May, 1937,
sales totaled 332,688 units, an in
crease of 7.4 per cent over the volume
in the 12 months ended May 31, 1938.
These figures Include the products
of the corporation’s American, Ca
nadian. English and German factories
sold outside of the United States and
Canada.
FOBEIGN EXCHANGES.
NSW YORK, June 19 MV—Forelin ex
change steady; Oreat Britain In dollars,
others In cents. Oreat Britain demand.
4.94: cables. 4.94: 60-day bills. 4.93.
France demand. 4.45V4: cables. 4.4514.
Italy demand. 5.28%: cables. 6.26Vi.
Demands—Beldum. 18.89: Oermany,
free. 40.10: registered. 21.00: travel.
25.05: Holland. 64.99: Norway, 24.83;
Sweden. 25.48: Denmark. 22.06; Finland.
2.19: Switzerland. 22.94: Spain, unquoted;
Portugal. 4.40: Greece. .90%: Poland,
18.97; Czechoslovakia. 3.48V4: Yugoslavia.
2.33: Auatria. 18.76n: Hungary. 19.80;
Rumania, .76: Argentina. 82.90n; Brazil.
8.80Vin: Toklo. 28.75: Shanghai. 29.8S:
Hongkong. 30.80: Mexico City. 27.85:
Montreal la How York, PP.9ft’«: Now York
la Montresl^lOO.OlA. a—Nominal.
Dividend Omitted
By Crown Drug Co.
Due to Strikes
By the Associated Press.
NEW YORK, June 19—Although
its dividend requirements had been
earned, Crown Drug Co. omitted pay
ment of its common dividend today
as a result of employe wage and hour
adjustment and uncertainies over
local strikes, T. L. Evans, president,
announced.
The regular quarterly dividend of
43 \ cents on the preferred stock was
declared payable August 16 to stock
of record August 2.
The company operates a drug chain
in Kansas, Missouri and Oklahoma.
LARGE GAIN SHOWN
BY TRANSIT REVENUES
Breclel Dispatch to Tha Star.
NEW YORK, June 19.—Revenues
for the transit industry for the week
ending June 13, 1937, based on tele
graphic reports received from a repre
sentative group of transit operating
companies, showed a substantial In
crease over last year.
Transit Journal’s revenue indicator
stands at 106.34, which represents a
gain of 6.24 per cent over the corres
ponding week in 1936.
For the week ending June S, 1937,
the indicator was 98.30.
Improvement In revenues this week
was greater than for any other week
this year except that of March 20
and 29. Gains were general in all
sections of the country.
INVESTING COMPANIES
NEW YORK, June 19 i/P).—New York
Security Dealers' Association
... _, , Bid. Asked.
Admin Ed 2nd Inc ._ 17.60 18.72
Am Business Shrs. __ 1.13 1.75
Am Oen Bo Inc_ . 1.06 l.is
Am Ins Stocks ____ . 6.25 6.00
Bancamer Blair _ 8 50 9 50
Bankers Nst Inv Corn . 3.50 4.125
Basic Industry 4 92
Broad 8t Inv _ 33 12 36 42
Bullock Fund 20 25 77 00
Corporate Trust _ . 2 9)
Corporate Trust A A 2 14
Corp Tr A A mod 3.52
Corn Tr Accum Ser. 2 74
Corp Tr Aec Mod __ ___ 3.52 __
Cumulative Tr 8h . 6 12
Depos Bk Sh N Y •'A” 2.29
Depos Ins Shrs "A" 3.39
Depos Ins Shrs "B" 3.118
Diversified Tr C 4.16
Dividend Shrs __ 1.84 1 99
Equity Corp $3 pf__ . 36 00 39.00
Fidelity Fund Inc_ _ 26.11 28.12
First Boston Corp . _ 24.375 75.875
Filed Trust Sh A _ _ _ 12.68
Fixed Trust Sh B ... 10 51
Found Tr Sh A _ 4.65 5 00
Fund Investors Inc.. 22 58 23 84
Fund Tr Shrs A_ fi.oo 6 63
Fund Tr Shrs B__ 6 52
Gen Investors Tr _ 6.61 7.19
Group Sec Agriculture_ 1.90 2.06
Group Sec Automobile 1.33 1.45
Group Sec Building __ 1.95 2.11
Group Sec Chemical.. . 3.53 166
Group Sec Food _ __ .94 3..C3
Group Sec Invest Shrs 1 49 1 62
Group Sec Merchandise 1.34 1 46
Group Sec Mining _ 1.65 1.79
Group Sec Petroleum . 1 43 1 56
Group See R R Equip 1.44 1 57
Group Sec Steel 1.88 2 04
Group Sec Tobacco 1.03 1 13
Huron Holding ..._ _ .55 .90
Incorp Investora 83.79
Instl Sec: Bank Group 1 67 1 81
Instl See: Insurance 1.56 1 69
Investors Fd "C" Inc . 15.04 15.06
Keyston Cust Fund B-3 20.52 27.44
Major Shra Corp. 3 on
Maryland Fund _ 0.04 9 90
Maas Invest Tr. __ _ 26.81 28 46
Mutual Invest _ . 36.19 I8 60
Nation Wide Sec _ 4.20 4 30
Nation Wide Voting_ 1.89 2.05
Natl Investors _ 6 84 7 11
New England Fund_ 17.94 19 29
NYBkTrShra.. ._ _. 3.50
N Y Stocka. Bk Btocka 10.96 11 84
N Y Stocks. Bldg Supply 11.07 11.96
N Y Stocks, Elec Eouip _ 11.79 12 13
N Y Stocks. Insurance _ 10.13 10 95
N Y Stocks, Machinery.. 12.34 13.32
N T Stocks. R R Equip _ 13.56 14.63
N Y Stocks, steel _ . 13.89 14.99
North Am Bond Tr ctfa. 68.76 63.00
Nor Am Tr Shares.. . 2.69
Nor Am Tr Sh 1955_ 3.38
Nor Am Tr Sh 1956_ 3.32
Nor Am Tr Sh 1958 _ 3.12
Plymouth Fund Inc_ 80 9]
Quarterly Income Sh_11.00 18.63
Selected Am Sh Inc . . ._ 13.92 15 18
8pencer Trask Fund_ 19.76 20.80
Stand Am Tr 8hrs_ 4.00 4.26
Stand Util Inc __ .72 .78
Super of Am Tr A_ 3.92
Super of Am Tr AA_ 2.62 _ 1
Super of Am Tr B_ 4.06
Super of Am Tr BB_ 2.62
Super of Am Tr C __ 7.5P
Super of Am Tr D_ 7 69
Supervised Shrs __ 33.67 34 78'
Trustee Stand Inv C_ 2.99
Trustee Stand Inv D 2.94
Trusteed Am Bk "B'’ _ .87 .96
Trusteed Industry Shrs _ 1.43 1.58
Wellington 3?und _. .. 18.03 19.78
INSURANCE STOCKS
NEW YORK. June 19 op).—New York Se
curity Dealer!' Association;
_ ,, , Bid. Asked.
Aetna Cas (2a) 89% 93%
Aetna Ins (1 60)._ 44% 46%
Aetna Life (.80a)_ 37 28%
Am Eqult (1.60a)__ 3fi% 39
Am Reins (.40g)_ 38% 40%
Am Reserve (la)__... 36% 28%
Am Surety (2%)_ SOVi 62%
Automobile ns)_29 30%
Balt Amer (,20a)_ 6% 7%
Carolina (1.30) _ 22% 24%
City of N Y (1.20)_ 23% 26%
Conn Gen Lif (.80)_ 34% 36%
Contin Cas (1.20)_ 26% 284
Fid & Dep (4) . _ 121 * 124V?
Firemen’s Nwk (.30)_ 10 11%
Frank Fire (le)__ ... . 31% 33%
Gen Reinsur (2)_ 38% 46%
Glen Falls (1.60)_ 42 44
Globe * Ren (.80)_ 19 21
Globe A Rut -- 63% 57%
Great Amer (Is)_ 25 26%
Hanover (1.60) __ 31% 33%
Hartford Fire (2)_ 70% 72%
Home Fire See_ 4 5%
Home Ins (la)_ 34% 36%
Homestead (1)‘ ..._I 17% 19
Knickerbocker (.80) _ 15 17
Lincoln Fire _ 4% 4%
Maryland Css _ 5% 7
Mass Bond (3%)_ 59% 62%
Natl Fire (2). - 63% 65%
Natl Liberty (,20a) 8% 9>/l
N Hampshire (1.60s)- 49 50
N Y Fire (.80s)_ 20 22
Nor River (1)- 22% 25%
Phoenix (2a) _ 83 87
Prov Wash (1). - 33% 35%
Revere (P) In (1.30)_... 23 24%
Rossla Ins (,60a)_... 9% 11
St Paul Fire (6) _ 197 204
Springfield (44a)- 115% 118%
Sun Life (7%g)- 615 665
Travelers (16) - 458 468
IT S Fire (2) __ 51 Vi 53 %
Westchester (1.20a)_ 34% 38%
a—Also extra or extras.
■—Declared or paid so far this year.
CHICAGO PRODUCE.
CHICAGO. June 19 OP).—Butter. 21.720
steady; creamery specials (93 score). 304
31: extras (90). 30; extra firsts (90-91).
29-294; firsts <88-89). 27-38%; stand
ards (90 centralized carlots). 29. Eggs.
17.791. Arm; extra llrsti local. 19%; cars.
20: fresh grided firsts. local. 19: earg.
19*4; current receipts 18%; storage
packed firsts end extrea. 21.
Poultry live, eeven trucks- eulet. price#
unchanged
Associated Press Index
Holds Unchanged as Gains
Offset Declines.
Br th. Associated Press.
NEW YORK. June 19—The statisti
cal picture at industry was unchanged
this week as gains in a few group* were
offset by declines elsewhere.
The seasonally adjusted Associated
Press index at 10* 5 per cent of the
1929-30 average equaled the previous
week and was substantially above the
90 9 of a year ago.
The downturn evident during the
past month was stemmed by a slight
recovery in steel operations and a jump
in electric power production to the
highest point on record on a seasonal
basis.
Automobile production lines slowed
as a atrike cut output of General
Motors. Ford assemblies were reported
unchanged and a minor gain was Indi
cated for Chrysler.
The index, with its seasonally ad
justed components based on the latest
available statistics and with 1929-30 as
100, compared as follows:
Latest Prev. Year
—. . . week. week. ago.
Composite index . 104.5 104 5 90 9
Automobile prod. _ 3 02.K 107 1 93 4
Steel mill activity __ 102.« 102 3 939
Cotton mfg. activity 133.1 133 2 m.so
Electric power prod. *121.5 1190 3095
Residential bldg. *4.9 «4 9 49 9
Total car loadlnts 75.1 75 1 71 •;
•New 3937 high.
CAVANAGH WILL HEAD
BOARD OF HAT CORP.
B* the Associated Press.
NEW YORK, June 19.—John Cava
nagh, former president of Hat Corp.
of America, has been elected chairman
of the board to succeed Maurice
Wertheim, who has resigned.
Fletcher H. Montgomery, former
vice president, will become president.
Wertheim will continue as a director
and member of the Executive Com
i mittee.
__
DOLLAR GOES DOWN
IN LONDON DEALINGS
B» th« Associated Press.
LONDON, June 19.—The United
States dollar lost five-thirty-seconds
of a cent in foreign exchange trading
today. At the close it was 4.93 29-32
to the pound, compared with New
York's sterling rate of *4.94 to the
pound last night.
French francs ended 110.91 to the
pound against 100.87 yesterday.
ORDERS FOR RAILROAD
EQUIPMENT UP SHARPLY
B? the Associated Press.
CHICAGO, HI., June 19.—Railroad
equipment buying during the first five
months of this year continued at a
clip unequaled since 1929, the maga
zine Railway Age reported.
The publication estimated all pur
chases up to June 1 at *552,381,000,
compared with *379,458,000 in the
same months of 1936.
The outlay this year included
*307,819,000 for materials from man
ufacturers. *111,430.000 for cars and
locomotives and *133,432,000 for fuel.
'---•
HEATING OIL BOOSTED.
NEW YORK, June 19 (^.—Stand
ard Oil Co. of New Jersey has ad
vanced the terminal and tank car
price of light heating oil 55 points at
New York to 6.3 cents a gallon. At
Baltimore, Norfolk, Charleston and
Wilmington the price has been ad
vanced '/a cent to 6V» cents a gallon.
U. S. TREASURY POSITION.
By the Associated Press.
The position of the Treasury on June IT:
ilini®90!?1.5'03' expenditures,
ni?.5d5?8’!,8?’08’ balance. *2.556.298.
"L fSS1?!?* rtc*1Pts for the month.
finr'»“8Tj.'iV7i'40«*1’.<:ioPts.fOJ' the fiscal year
since July 1. *4.988.002.99.1.71: expendl
_*7i84nuX bO.°77.67, Including *2.
emergency expenditures:
excess of expenditures. $2.881.157.083.88:
gross debt. $38,490,204,118 02 a decrease
<,0,8'"«'i'88, below the previous day;
gold assets. $12,226,502,372 64 including
*994,163,948.23 of Inactlva gold.
CHICAGO LIVE STOCK.
CHICAGO. June 19 on (U. S. Dept, of
dfrriC,“n™Jit77?,°w- " £°° including 2.000
direct, practically no hogs on sale: nom
tnally steady: shippers took none: esti
mated holdover. 500; compared week ago
packing sows mostly 20-40 lower; spots
off more on heary and bit weight: others
and bits steady to stront: spots a shade
nirner.
Cattle. 500: calves. 100- compared Frl
iRAt week: Medium weight and heavy
steers. 50c higher: general undertone
measurably Improved; shipper demand
broader; dreased markets actively hither
locally, with week-end clearance exciting
trade comment: yearllnts and light steers.
25-60C higher: common and medium
trades, all weights, at new high on crop;
average cost all steers stsndins it 12.00.
highest in seven years; cows weak to 25c
lower: bulls. 10-lSc higher; choice ship
ping veslers steady, others 25-50c lower:
largely light and medium weight steer mn:
extreme top, 16.80. paid for 1.442-pound
specialties: practical top. 14.76; light
steers. 14.70: heifer yearlings. 13.50:
largely. 11.00-13.50 steer and yearllns
market: bulk cows, grassy kinds, at 6.no
7.50; choice fed cows to 10.00: stoeker and
feeder trade strong to 25c hither.
Sheep. 3.000. Including 500 directs. For
week ending Friday. 25.000 directs. Com
pared Friday last week: Native Spring
lambs. 76c to 1.00 lower; spots off more on
lower grades; strictly good and choice dry
fad yearllnts with weight strong to 26c
higher: sheep steady: week’s extreme too
native Sprint lambs. 13.26 paid early, clos
ing top. 12.25: week s bulk, 11.60-13.00;
all bucks at usual 1.00 discount under ewe
rnd wether aorta: most Idaho aprlnters.
1.00-11.26. doable-fed California spring
ers (wooled). 11.50: top dry-fed Tesrl'nc'
10.25; other*, P.on-'onn ordlns ir
*!«*; Si'’ -**•*? r
n
STOCKS IRREGULAR
AT END OF SESSION
Martial Law at Johnstown
Chills Sentiment as
Ticker Drags.
Stock Averages
an i a i s «n
„ . , Indus. Ralls Util. Btks.
Net change. —.2 —.4 Une. —.2
Today close. 89.3 39.3 40.5 64.4
Prev. day... 89.5 39.7 40.5' 64.6
Month ago.. 92.7 45.5 42.5 68.2
Year ago... 85.4 36 1 48.6 63.8
1937 high...101.6 49.5 54.0 75.3
1937 low_ 88.1 37 8 40.0 63.8
1936 high... 99.3 43.5 53.7 72.8
1936 low_ 73.4 30.2 43.4 55.7
1932 low_ 17.5 8.7 23.9 16.9
1929 high...146.9 153.9 184.3 157.7
1927 low_ 51.6 95.3 61.8 61.8
(Compiled by the Associated Press.)
BY VICTOR EUBANK.
Associated Press Finance Editor.
NEW YORK, June 19—Storks •
drifted in varying directions in today's
market and only a few were able to
show worthwhile progress.
Strike news, which had displayed
some improvement with the appoint
ment of a Federal Mediation Board
in the steel controversy, chilled trading
sentiment again when Gov. Earle of
Pennsylvania declared martial law at
Johnstown.
Wall Street apparently found con
firmation of its previous conclusions
that, even with Government inter
vention to settle the unionization bat
tle underway in plants of leading in
dependent steel companies, amicable
adjustment of the points at issue may
be some distance away.
Attendance in the board rooms was
the smallest in weeks. The list edged
forward at the opening, but. light
profit selling soon impeded extension
of the advance.
The ticker tape dragged along s*
a snail's pace during the greater part,
of the aession. Transfers were around
300.000 shares.
Shares able to register moderat”
gains at one time included Bethlehem
Steel, Youngstowm Sheet Ac Tube,
Chrysler. Goodyear, Sears-Roebuck,
Woolworth, Consolldaf«d Edison, Elec
tric Power Ac Light, Public Service of
New Jersey. Standard Oil of New
Jersey, Continental Oil. American Can, *
Du Pont, Pullman, United Gas Im
provement, American Tobacco "B" and
Certain-teed.
About even to down a point or so
m-ere United States Steel, Republic,
Inland Steel, General Motors, Yellow
Truck, United States Rubber, J. I.
Case, Boeing, Douglas Aircraft, Wee* -
inghouse, General Electric, American
Telephone, Western Union, Anaconda.
Kennecott. Cerro de Pasco, American
Smelting. Texas Corp., Santa Fe. Nev
York Central. Southern Pacific. Great
Northern and Baltimore Ac Ohio.
S. E. C. APPROVES
STOCK PURCHASEf
Middle West Corp. Authorized '
Increase Voting Strength in
Four Subsidiaries
E* Ihe Associated Press
The Securities Commission ap
, proved yesterday a proposal of the
| Middle West Corp., Chicago utility
| holding company, to increase its
voting strength in four subsidiaries.
The concern intends to do so by buv
ing about *235.000 worth of the »ub
sidiaries’ securities from a fifth sub
sidiary. the Middle West Utilities Co.
! of Canada.
The stocks to be bought, the prices
to be paid for them and the effect of
the purchases on Middle West Corp.'s
voting strength were indicated as fol
lows:
4.248.5 shares of common stock of
United Public Service Corp : *17.
i 319.22; increase of 48.65 per cent con*
j trol to a majority.
1.000 shares of common stock of
Missouri Gas & Electric Service Co :
*10.000; Increase bare 50 per cent
control to a clear majority. «
3.000 shares of *6 cumulative pre
ferred stock of Central Illinois Public
Sendee Co.; *199.563.75: increase
voting strength from 35.7 to 36.3 per
cent.
308 shares of common stock of
Kentucky Securities Co.; *7,237; in
crease voting strength to 47.6 per
cent.
The Middle West Corp. of Chicago
owns all of the stock of the Canadian
company and said it was compensat
ing the latter for the original cost of
the securities to be transferred.
SUGAR CONSUMPTION
INCREASES IN EUROPE
Bj the Associated Press.
NEW YORK, June 19.—Ettropean
sugar consumption gained 7.4 per
cent during the period September 1,
1936, through April, 1937, B. W. Dyer,
sugar economist, reported today.
Consumption for 12 European eoun*
tries for the first eight month* of
their crop year was 4,912,024 long
tons, raw sugar value, an increase, of
338,148 tons over the same period of
the 1935-36 crop. '
Production for the same countries
totaled 5 460,150 tons, an Increase of
241,596 tons.
SHARP DROP REVEALED
IN EXCESS RESERVES
B> I be Associated Press.
NEW YORK, June 19— Reserve*
above the legal minimum for Federal *
Reserve member banks dipped sub
stantially in the week ended June
16 to the lowest level almost In four
years.
The setback resulted from the trans
fer of a huge volume of Individual
and corporation deposits in member
institutions to the Treasury, inci
dental to the recent bond offering.
‘'Excess" reserves reported by the
Federal Reserve Board, compared as
follows:
Week ended June 16, $750,000,000. *
Previous week, $930,000,000.
Same period last year, $2,043,000,000,
-i*o-«
BOOTH FISHERIES NETS
$37,106 IN FISCAL YEAR
Bs the Aiaoelated Preu.
CHICAGO, June 19—Booth Fish
eries Corp. reported net earnings for
the fiscal year ending May 1.
amounted to $37,106, compared with
$31,007 for the previous fiscal year. |
R. P. Fletcher, jr„ president, said op
erations were adversely affected by aa
<■" ' ‘‘"fish
* A

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Evening star. [volume], June 19, 1937, Page A-12, Image 12
About Evening star. [volume] (Washington, D.C.) 1854-1972