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NEW A1 A. LEADER Russell G. Smith, Chief of National Bank Groups, Was Messenger. EY EDWARD C. STONE. Russell G. Smith, new president, national bank division of the Ameri can Bankers’ Association, has risen from the ranks, having started his financial career in 1912 as messenger in a savings bank in San Francisco, where he was born in 1894. Since the recent Boston conven tion, he has been a Washi ngton visitor, meeting many bankers and Government officials. After advanc ing rapidly for 10 years with the savings bank, he entered the Bank of Italy, now the Bank of America. Today he is vice president and cashier, an official in several other important, business con cerns and a member of the advisory council of the Trans-America Corp. The A. B. A. official was vice presi dent of the national bank division last year, is a former members of the execu tive council and the bank management commission and has been active in the American Institute of Banking. In the California Bankers’ Association he has been one of the leading spirits. Residing in the most famous State In the Union from the standpoint >f branch banking, he is prominent in tne Masonic fraternity and belongs j to several clubs. He is married and has two sons and a daughter. Factors in Break in Stocks. In his monthly letter to the Wash ington Association of Credit Men, Henry H. Heimann, executive manager of the national association, says he thinks there were two chief reasons for the break in the stock market, first that the market was running ahead of recovery, and second, the drop in consumer buying. He explains: “Stocks in many instances were far too high. In some instances they were selling at a price that discounted earnings in the present year, let alone 1 on an appraisal of average earnings. If a man runs 100 yards in 10 seconds it does not follow that he will run 1,000 yards in 100 seconds. Some companies had peak or near-peak years in 1937 as respects earnings. It is improbable that they could go on setting the new records year by year which the price of their stock seemed to indicate. The true investor realized ' as much and a correction ensued. “Next it isn't the stock buyer, the broker, or the industrialist who really , sets the sound value of a stock. It is , the consumer who does that. When he j refuses to buy in usual or increasing quantities the company that produces : the article the consumer needs finds it j sales falling off and its production j curtailed. Recently there were signs | that the consumer rebelled against rising prices and refused to follow them.” Large Delegation Forecast. It was stated in the financial district today that Washington will send a sizable delegation to the twenty-sixth annual convention of the Investment Bankers’ Association, at White Sulphur Springs, W. Va., November 3 to 7. President Edward B. Hall. Chicago, says that conditions prevailing in the securities markets will make the con vention one of the most important in years. Regulation, taxation, general investment problems, capital financing and a host of other puzzling questions will be fully discussed from every angle, he says. Safe Deposit Section Meets. The second meeting of the year of the safe deposit section of the District Bankers Association took place last evening in the board room of the American Security & Trust Co., with the chairman, Mrs. Helen R. Sharpe, presiding. Albert E. Fisher of the Riggs Na tional Bank addressed the section on the modern protection of safe deposit departments and some of the lax methods in management that should j be corrected. He gave a practical talk ; and cited many cases where unsatis- ; factory methods have proved harmful to banks. The new tax law's came in for an inr teresting discussion. The attendance was unusually large. aoumern s acuon rraiseu. The Wall Street Journal today says that one of the most bullish news de velopments relating to an individual steam carrier which has come to light ir> months was the announcement at the Southern Railway’s annual meet ing that the management had obtained from the Reconstruction Finance Corp. a commitment which will enable the road to meet its near-term maturities, providing satisfactory terms cannot be obtained through private banking channels. The report shows that the Southern Will be able to take care of these debt maturities without difficulty. In cidentally, the Journal adds, the bullish newTs on Southern w'as con sidered by many traders as exercising a tonic influence on medium priced obligations of a number of other carriers. Financial District Gossip. Today's opening upswing in the New York stock market, with forced selling and panicky selling over for the time at least, aroused much enthusiasm in brokerage houses here. Some of the sharp overnight advances were con sidered too good to hold as the trans lux revealed another very active session. The Chesapeake & Ohio Railroad for the nine months ended September 30 earned $3.19 a share on the com mon stock, against $3.76 a share a year ago. President Hugh Leach of the Rich mond Reserve Rank attended the dedication of the new Federal Reserve Building here yesterday afternoon. Today’s Trading on Exchange. The new Washington Gas Light preferred stock sold at 9914 on the Washington Stock Exchange today, a single share for 99%. It has proved to be one of the steadiest stocks on the board ever since it was listed. Riggs National Bank common stock moved today at 275 and Potomac Electric Power 5>2 per cent preferred changed hands at 1119*.' Capital Traction 5s were in demand at 72. There have been just two 10-share sales of Washington Railway & Elec tric Co. common stock on the ex change this year. The first sale was made at $725 a share and the second a few days ago at $625 a share. The stock pays $36 a year dividend and practically none is offered for sale at any price. • Russell G. Smith. TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE By Private Wire Direct to The Star. 12:00 noon Prev 10.17 Stock and Sales— Net High; Low. Dividend Rate Add 00. High. Lew. 2:15. ch«e 66 38 Abbott Lab (l.«0a>.. 4 40 38% 38% - M 85 45 Acme Steel (4) _ 2 60 49% 49% +1% 22% 9 Adams Exp (.30g)_. 11 11% 11 H + % 28% 17% Ajlams-Millls (2)-_x 1 22 22 22 +1% 30 16% Addressog (1.40)— 3 22% 21% 22 +1 4% 1% Advance Rumley—. 1 1% 1% 1% + % SO% 53 Air Reduction (la). 7 62% 60'% 60%+ % 5% % Air-Way El Ap- 5 1% 1% 1% - % 15% 8 Alaska Jun <.60a)_. 3 10% 10% 10%+ % 5% 1 Alleghany -- 30 1% 1% 1% 59% 11 Allef pf *30 ww-- 16 14% 13 13 —1 59 11 Alleg pf *40 ww__ 3 14% 14% 14% +2% 68% 10 Alleg pf xw__ . 3 14% 13% 13% +1% 52% 10% Alleg prpf_ 6 17 14 14 -l 45% 13 Alleg Steel (1.20g)_ 4 20% 19% 19% +1% 258% 150 Allied Chem (6)_ 20 174% 164 164 -6% 17% 11% Allied Kid (la)_ 3 12 12 12 +% 3*% 10 Allied Mills (2g).._ 4 16% 15% 15%+% 21% 6% Allied Stores (,20a) 39 11 10 10% 85 50 Allied Strs pf (5)_ 2 59 68 68 +8 83% 34 Allis Chaim (2g)-_. 25 45% 43 43 - % 39% 8% Alpha Portland (1). 3 13% 12% 12% 8% 1% Amal Leath .. ... 7 3% 2% 3 + % 52% 19 Amal Leath pf (3).. 2 24% 24% 24% +1% 114% 62% Amerada (2) . 5 69 65 65 —2 101% 53% Am Ag C(Del)6%g. 2 61% 61% 61% +1% 41% 10 Am Bank Note %g.. 8 16% 15 15 + % 80% 28 Am Brake Sh (2g).. 9 45% 42% 42% +1 160 125 Am Brake S pf 6%. 20s 131 130 131 +1 121 79% Am Can (4a).. _ 5 91% 90 90% + % 71 15% Am Car & Fy ( %g). 4 24% 23% 24% +1 104% 36 Am Car & F pf (4g). 4 48 44 44 -1 33% 11% Am Ch&Cable lg 23 18% 17% 17% + % 112 90 Am Chicle (4a)_ 3 96 95 95 +2 23% 5% Am Colortype__ 2 9 8 9 +1 3u% 8% Am Cornel AIco_ 10 12% 12% 12% + % 33% 12% Am Crys Sug 3.25g. 5 17 16% 16% + % 99% 87 Am Crys Sug pf <61. 20s 87 87 87 13% 2 Am Encaustic Til . 7 5 4% 4% + % 13% 2% Am & Foreign Pow. 19 4% 4% 4% + % 68% 19 Am & For Pw *7 pf. 10 26% 26% 26% +1% 38% 5% Am & For Pw 2d pf. 8 11% 9% 9% — % 21 7% Am-Hawallan S (1) 2 11% 11 11% + % 11% 2% Am Hide & Leath .. 7 4% 4 4 55% 20% Am Hide * L pf (3). 4 26% 26 26 +1% 52% 32% Am Home Pr (2.40). 2 35% 35% 35%+ % 4% 1% Am Ice . _ 3 2 2 2 + % Zl-.'n lo Am IOe pi U.UIKI.. 1 19 19 JO 1-J 1 ?** 6+ Am International_ 8 8*4 7+ 7+ 58+ 14*, Am Locomotive__ 6 22*4 20*, 20*4 + *4 125 5.1 Am Loco pf _ 3 60*4 60 60*4 +2*4 29*8 10+ AmMach&Fy (1).. 9 13*. 13 13*, - V, 13*, 3 Am M& Met (.60).. 8 5*, 4*4 4*, + *4 68'4 29 Am Metal (+g) — 6 35 32+ 33V* -1 75 53 Am News N Y (3)._ 40s 59 58 69 +6 16+ 2 AmPow&Lt .. 42 6*, 5+ 6*4- *, 72+ £6 Am P&L J5 pf <5)_ 6 37 36*, 36+ +5*, 87+ 31 Am P& L $6 pf (6). 4 46 45 45 +6V4 29+ 9*4 Am Pad & St Si.60) 73 13*4 12V* 12*4 - V* 170 144 Am Pad & St pf (7) 100s 143 143 143 -1 45!* 15+Am Polling Mill (2) 63 2544 23+ 23+- + 101+ 70 Am Roll M crpf 4 + 6 79 77+ 78 +2 36 17+Am Safety Paz 42). 1 22+ 22+ 21+ -l + 29 7+ Am Seating (+g)_ 5 13+ 13V* 13V* — + 58 82 Am Shipbldg <2a).. 40s 30** 30 30V* + + 106** 45+ AmSm& Ref <4g)_. 40 59+ 55+ 55+ -2 151 133 Am Smelt pf (7)_ 2 135 135 135 +2 67+ 46 Am Snuff (3a)_ 2 50 49 49+ + *» 73+ 22+ Am Stl Foun 1.50g_. 20 28+ 27+ 27*. + V* 26+ 10+ Am Stores (1.50g)_. 3 12+ 12 12+ + Vi 66+ 28+ Am Sugar Ref (2).. 6 31 30*. 31 +1 25+ 14 Am Sumatra (la)_ 3 17** 17V* 17+ ■+■ % 187 140 Am Tel & Tel (9)_ 27 153** 151+ 15144 - *» 99 66 Am Tobacco (5)__ 4 70+ 70 70+ + »* 99+ 6S+ Am Tobacco B (5).. 6 7344 72+ 72+1- + 150+ 128+ Am Tob pf (6)_ 1 138+ 138+ 138+ +1+ 20+ 4+ Am Type Fdrs _ 30 7»* 7 7+ + + 26+ 8 Am Wat Wks I 60b) 26 12+ 1144 11*.+ + 107 82 Am Wat W 1 pf (6) _ 1 84 84 84 +2 14+ 3+ Am Woolen 6 6+ 5+ 6+ + + 79 30', Am Woolen pf (3k). 6 41+ 40 40 +1 + 20 3+ Am Zinc L & S . 32 7 6+ 6+ + + 79+ 27+ Am Zinc pr pf 2.50g. 1 32 32 32 +4 69*8 24+ Anaconda (1.25g> . 102 .32 2944 30 - + 97 39 Anacond *V (2.5Ug) 2 43+ 42 42 +1 24+ 10 Anchor Cap (.45g).. 11 14V* 13*4 13+ 111 99 Anchor Cap pf 6 54 — 20s 100 100 100 +1 37+ 7 Andes Copper_ 5 14+ 12 13+ +3 + 10+ 2+A P W Paper_ 2 6 5 6 -rl + 46 31 Arch-Dan-M 1.50g.. 1 34 34 34 +1 111 93 Armour Del pf (7).. 2 96 95 96 -1 13+ 4+ Armour 111 (.55g)_ 30 8 7+ 7*4 99+ 65 Arm ill pr pf (6)_ 2 71 70 71 +4+ 70+ 30 Armst’g Ck (1.50g). 9 38 36+ 37+ -f + 16*. 4+Arnold Const (%g). 7 9 7+ 8 -t- ** 17+ 2*8 Artloom .. 3 5 4+ 4+ + V* 24+ 6+ Asso Dry Goods_ 13 9+ 8+ 8+ + + 57+ 35 Assoc Invest (3)_ 1 39 39 39 +4 106 82+ Assoc In pf ww(5)_ 10s 83 83 83 —1 94+ 35 Atch T & S F (2g)_. 15 44+ 42 42**- + 55+ 18 Atlantic Coast Line 14 26+ 24+ 24+ — + 29 5 Atl Gulf & W Ind .. 3 6+ 6+ 6+ + + 44 9 All Gulf&W lnd pf. 4 12*4 12 12 - + 37 18 Atlantic Reftn (1) . 14 24+ 23 23 -1+ 116*3 101+ Atl Refining pf (4). 1 103+ 103+ 103+ + + 18+ 7+ Atlas Corp 1.80) ... 9 10+ 10 10+ -r + 62+ 39+ Atlas Corp pf (3) .. 3 43 41 41 -1 94 40+ Atlas Powder 2.50g. 3 55 52 55 4-6 18+ 4+ Atlas Tack ( 50g)_. 2 8 7 7 +1 36+ 6+ Auburn Auto _ 10 10 9+ 9+ + + y*a 2 Austin Nichols .. 2 3+ 3+ 3+ + + 52+ 15+ Aust Nich pf A(5k) 50* 20+ 20 20 9*. 2+ Aviation Com ... 16 4 3+ 3+ + V. 23+ 5 Baldw Lo ctfs W.I... 21 8+ 8+ 8+ + V* 40+ 8+ Balto & Ohio _ 54 13 12+ 12+ + + 47+ 10 Balto & Ohio pf_— 6 15+ 15 15V* -t- + 45 30 Bang & Ar (2 +)_ 1 35+ 35+ 35+ +3V* 43+ 10*8 Barber Co (+g)_ 9 15V* 14+ 15 + + 32 9 Barker Bros _ 6 12+ 11+ 12 +1+ 42 28 Barker pf (2 + )_ 20» 28+ 28+ 28+ 35+ 10 Barnsdall (1) _ 20 15+ 14+ 14+ 20V* 9+ Bayuk Cigar .56 *4g 5 13 12 12 + + 115 108 Bayuk 1st pf (7)_ 40*110 110 110 +2 28+ 18+ Beatrice Cr (la)_ 3 17+ 17 17+ +1+ 114+ 90+ Beech-Nut P (4a)._ 2 92 92 92 + + 15+ 7+ Beldin-Hem tl)_ 2 8+ 8+ 8+ + + 30*, 8+ Bendix Avlat .75g 20 13+ 12+ 13*. + + 23+ 15 Beneficial Loan(2g) 5 19 185, 19 + + 105+ 41 Bethlelim Stl 2.50g- 62 51+ 47+ 48+ —IV* 20 14 Beth Stl 5% pf (1). 4 16+ 16 16 - V, 129+ 87 Beth Stl 7% pf (7). 1 95 95 95 +5 69+ 30 Blgelow-San <3g)__ 2 35 34+ 34++2+ 38 13(4 Black & Deck (la).. 3 18 17 17 + + 29+ 9 Blaw-Knox (.70g).. 10 14 12+ 12+ —1 + 49+ 16 Boeing Alrpl .. 21 22+ 20V* 20+ - + 48+ 21 Bohn Alum (2.75g). 8 29 28 28+ +1+ 93 76+ Bon Ami (A) (4) ... 20s 81 80 80 46!, 39 Bon Ami(B) (2.50).. 40s 40 40 40 + + 25 15 Bond Stores (1.60)_ 3 17 16 16+ + *4 28 17V, Borden (1.60) 10 21 20+ 20+ 50*4 24+ Borg-Warner (2)_ 6 35+ 33 33+ + + 15+ 3 Boston & Maine_ 3 5+ 5 5+ + + 4+ + Botany CM (A) (r) 2 1+ 1+ IV* - V* 35+ 18+Bower Roll Bs(2g). 2 22V, 21V* 21V* 23V* 7 Bridgpt Brass .65g. 21 10+ 9+ 9+ — + 59+ 18 BrigssMfg (2.50g). 26 29V* 26+ 27V* + IV* 53*, 33 Briggs & Strat (5) . 4 38 35+ 35V* + V* 53 8 Bklyn-Man Transit. 7 11V* 10+ 10+ + + 102+ 32+ Bklyn-Man pf (6).. 1 37 37 37 +1 8 1 Bklvn& Queens_ 10 2+ 2+ 2+ + + 38+ 6+ Bklyn & Q T pf_ 2 8+ 8+ 8+ + V* 52+ 19+ Bklyn Un Gas 2.30g 9 27 24 25+ +2+ 24V, 6 Brunsw-Balk .50g_. 6 11 9+ 9+ + + 25+ 6+ Bucyrus-Erie .25g— 7 10+ 9+ 9+ —1+ 14+ 2+ Budd Mfg _ 30 5+ 5+ 5+ + + GW MfiT nf 711c A K fiAU -4-AI + 13 2% Budd Wheel <.20g). 13 5% 6% 5% + % 45% 10% Bullard Co (1) — 4 17% 17 17 + % 65% 26 Bulova Watch (4a) 8 36% 35 35 +1 18% 7 Burlington Mills(l) 5 9% 8% 9% + % 36% 15 Burr’gh Add M(la). 8 19% 18% 19%+% 11% 1% Bush Term (r) ... 7 3% 3% 3% + % 39 8 Bush T 7% deb (r). 3 10 9% 9% + % 45% 10 Bush T Bid pfct(r) 40s 13 13 13 +2 18*4 5% Butler Bros (.60)... 7 9% 9% 9% + % 36% 16% Butler Bros pf(l%) 2 23% 22% 22%+% 9% 2% Butte Copper & Z__ 8 4 3% 3% + % 33% 6 Byers Co . .. 9 10% 10 10%+% 91 24 Byers AM pf 2.50k.. 40s 42 40 40 +6% 34% 12% Byron Jackson (lg). 3 18% 18 18 + % 48% 20% Calif Pack (1 % a)._ 2 28% 27% 27%+% 6Vs 1 Callahan Z-Ld _ 24 2% 2 2% + % 20% 4 Calum & Hec 1.10g_ 16 9% 8% 8% - % 37% 10% Campbell Wy (1)_ 4 19% 17% 18 +2 38*4 9% Canada Dry G Ale.. 16 13 11% 12. — % 61 51 Canada South (3)_100» 45 45 45 —6 17% 6% Canadian Pacific 40 8% 8% 8% - % 61*2 38% Cannon Mills l%g— 2 34% 341* 34%+% 35% 18 Carpenter Stl 1.60g. 1 21% 21% 21% + % 9% 2% CarriersAGen 15g— 6 4% 4 4 191% 89 Case (J I) (6g) _ 9 111 105 106 +3% 100 53% Caterpillar Trac(2) 10 65 63 63 +1% 41% 17 Celanese (2.25g) . 14 24% 22% 23 + % 48% 21 Celotex Corp 1.20g.. 2 25 24 25 +1 82% 53 Celotex pf (5) ... 10s 53% 53% 63%+ % 39*4 24 Cent Akuir (l%a)„ 4 26 25% 26 +1 12*8 2 Central Fdy _ 40 4% 3% 3% + M 41% 8 Central RRNJ ... 3 11 11 11 24% 4 Central Vloleta Sug 2 6% 6% 6% + M 14% 3% Century R M (.40g). 1 5% 5% 5% + % 86% 40% Cerro de Pasco (4a). 16 49 47 47 23% 3% Certaln-teed 16 7 6% 7 + % 82 18% Certaln-teed 6% pf. 160s 30 27 30 +7% 63% 29% Champ Pap & F (2). 3 37 35 35 48 5 Checker Cab Mfg_ 3 11% " 9 11 +3VS 90% 41% ChesCorp (S) 1 48 48 48 +1 68% 31 Ches A Ohio (2.80a) 20 40 38% 38%+% 4% % Chi A East 111 (r)._. 2 1% 1% 1% + % 13% 2 Chi A East 111 pf (r) 3 3% 3% 3% + % 4 1 Chi Gt West (r) ... 4 1% 1% 1% + M 18% 3 Chi Gt West pf (r)_ 4 5% 5% 5% + % 32 10% Chi Mall Or 0%a). 4 14% 13% 13% + % 3% % Chi M St PAP (r).. 3 1% 1 1% + M 7*4 1% Chi M Si PAP of(r) 9 2% 2 2 - b 6% 1 Chi A N W (r» .. 6 2% 2 2% 19% 3 Chi A N W pf tr)... 2 6 5% 5% + Tj 33 6% Chi Pneu Tool 16 13% 12*4 12% + b 45 29% Chi Pneu T cv pf (3) 2 30 30 30 — K 3% 1 Chi R 1 A Pac (r) 4 1% 1% 1% + * 8% 1 C R 1 A P 6% Pf (r) 2 2% 2% 2% + K 10% 1% C R 1 A P 7% pf (D 6 3% 2% 2% - M 22% 12 Chick Cotton OH_ 6 13% 13 11% + It 15% 3 Childs Co - 9 6 5% 5% 135% 52% Chrysler (7g)- 119 68 64% 65 — IV! 21% 11 Citv Ice A F (2).... 3 15 14% 14%+ k 92 70 City 1 & F pf (6%). 80s 70 70 70 10% 2 City Stores - 4 4% 3% 4 + k 48 24% Clark Equip 4.30g.. 6 32 30% 30% +lk 113 102% Clev El Illu pf(«%) 80s 106% 106% 106% + k 48% 23 Clev Graph Bl%g. 1 81% 81% 81%+tk 12:00 noon „ . Prev. 1937 Stock and Sales— Net High. Low. Dividend Rate. Add 00. High. Low. 2:15. chge. ”36% " 28% Climax Molybd ,90g. 6 35 33% 33% — % 29% 13% Cluett Peabody (1). 9 17 16% 16%—% 170% 93% Coca-Cola (8)- 11113 111 111 +2% 69 66% Coca-Cola A (8)- 1 68 68 68 +1 26% 8% Colgate-P-P (.50).. 22 12% 11% 11%-% 62% 20% Collins* Aik (4g)„ 10 32 30 30% +1% 61% 11% Colo Fuel & Ir (lg). 7 18% 17 17 + % 27% 6% Colo & South. 20a 9 8% 8% +1 30 9 Colo & South 1st pf 40a 11% 11% 11%+% 29 9 Colo & Sou 2d pf_ 60a 9 85, 8% - % 32 18 Col BrdcstS A l.OBg. 6 21% 20% 20% +1% 31% 17% Col BrdcstS B1.05g. 6 20 19 19 20% 454 Colum G & El ,45g._ 65 9 8% 8% 39% 10 Co! Plct vto (la)_ 7 15% 15 15%+1% 125% 75 Col Carbon (4a)_ 7 85 84 84 +2 69% 33% Cornel Credit (4a)-. 13 47% 45% 46%+ % 80% 39% Cornel invest Tr<4) 8 50 49% 49% +154 120 95 Cornel InvT pf 4%. 1 96 96 96 +1 21% 5 Cornel Solv (.60)_ 60 9% 9 9% 4% 1 Comwlth & Sou.... 79 2 1% 1% + % 7554 34 Com & Sou pf (8)_ 6 39 3754 37%+% 19% 4% Conde Nast _ 5 7% 7% 7% +2 45% 21 Congoleum-Nrn(2). 6 28 26 26% + 54 33% 8 Conaol Aircraft- 9 11% 10% 1054 - 5* 18% 4% Consol Cigar.. 2 7% 7 7V. + % 49% 22 Consol Edl (l.B0g)_ 60 29% 27% 27%-% 108 94 Consol Edlspf (6).. 1 95 95 95 55* 1 Consol Film_ 6 2 1% 2 - % 18% 4% Consol Film pf- 6 7 6% 6% + % 13% 3% Cons Laundries__ i 5% 6% 5% + % 17% 7 Consol 011 (.80a)... 80 105* 10% 10%+% 105* 2% Consol RR Cuba pf. 1 4% 4% 4% + % 1% % Consol Textile (r)_. 6 % % % 13% 3 Consol Coal _— 3 6V* 5 5 — % 62»» 16 Consol Coal pf- 2 21V* 21 21 - % 375* 10*4 Container (1.20)_ 16 175* 16% 16% + % 37% 7% Conti Baking A_ 9 12% 11% 11% + V* 5Vi 1 Conti Baking B_ 21 2% 2 2 69% 41% Conti Can (3) _ 24 49 48% 48% +1% 25% 5% Conti Diamond l%g 4 11 10 10% + 5* 425* 23 Conti Ins (1.60a)... 16 28% 28 28% +1 3% % Conti Motor __ 8 IV* 15* 15* + % 49 24 Conti OIKDel)l%g 16 32% 29% 30 -1% 355s 9% Conti Steel (1)_ 7 18 15% 16 +1V4 77 48 Corn Exchange (3) x 30a 51% 50% 51%+1% 71% 53% Corn Prod (8)_ 16 525* 50% 50% - 5* 10% 3 Coty _ 7 45* 4% 45* + V* 66% 27 Crane Co. 8 345* 32% 32% -1 115 90 Crane Co cv pf (B)_. 3 96 95 96 +1 37 21% Cream of Wh (2g).. 2 24% 24 24V* +2% 285* 7 Crosley Radio_ 4 12 10% 10% +1% 100% 315* Crown Cork (2)_ 8 39% 38% 39 +1 25% 8% Crown Zeller (% g). 14 135* 12% 12% - 5, 81% 21 Crucible Steel .. 3 33 31 31 - % 135 90 Crucible St pf 6%k. 1 96 96 96 +6 O ■ V/Uim ' U . ......a * i " 17% 3 Cuba R R pf.. 10« 5% 5% 5% + % 14% 2% Cuban-Am Sugar 9 5% 4% 4% — % 127 78 Cuban-A Sug pf 18k 60« 84% 81 81 +1 43 16 Cudahy Packing_ 1 19 19 19 +1 20% 4 Curtis Pub _ 17 7 6% 6% - % 109% 60 Curtis Pub pf (7)_ 3 52 49% 60 8% 2 Curtiss-Wrlght ... 135 3% 3% 3% - % 23% 8% Curtiss-Wrlght A.. 45 11% 10% 10%-% 62 30 Cushman pf_ 10* 32% 32% 32%-1% 90% 39% Cutler-Ham <2g)_ 6 46 45 45 18% 6 Da vega Stores (la). 2 8 8 8 + % 109 99% Dayton PAL pf 4%. 10» 96% 96% 96%-3 143% 68% Deere* Co <2g)_ 22 85% 80% 80% -3 31% 21 Deere & Co pf (1.40) 2 23% 23 23 +1% 29 8 Deisel-Wem-G (la) 3 15 14 14 +2 58% 13 Del* Hud _ 3 18 16% 16%-% 24% 6 Del Lack & W_ 25 9 8% 8% + % 10% 1% Den&Rlo GW pf(r). 3 3 3 3 + V* 146% 98 Detroit Edis (6g> - 3 103 101 103 +3 79% 69 Devos & Ray Ada). 1 40 40 40 -20 36% 18% Diamond Mat (la). 2 23 23 23 40% 30 Diam Mat pf(l%a). 1 32 32 32 +2 23 6% Diamond T Mot (1). 2 10% 10% 10%+ % 29 10 Dist Corp-Seag 28 14% 13% 13%-% 96 60% Dist-Seag pf ww(5) 1 65 65 65 25 15 Dixie-Vortex (1 %). 1 16% 16% 16%+ % 41% 27 Dixie-Vor A (2%).. 20» 31% 31% 31%+4% 46% 16% Doehler Dle(1.50g). 6 24 23 23 + % 61 35 Dome Mines(4.50»). 14 41% 40% 40%+% 12% 6% Dominion Strs __ 2 6% 6% 6% + % 77% 26% Douglas Aircraft... 34 34% 32% 32% + % 159% 94 Dow Chem (3.35g)_ 2 100 99 100 +1 39% 9 Dresser B (lei ... 1 13 13 13 +1 1% V, Dul S S & Atl <r)_ 1 % % % 8% 1% Dunhlll Inti — 2 2% 2% 2% + % 122 112 Duplan Silk pf (8)_. 10s 113 113 113 -1 180% 113% Du Pont d#N(4%g) 8 131 126% 127 -4% Dupont de X pf 4.50. 4 108 107% 108 115% 110 Duquesne 1st pf(5) 10*112 112 112 +1 17 2% Eastern Roll _ 6 6% 6% 6 198 145 Eastman Kodak (*) 6 166 164 165 +1% 37% 15% Eaton Mfg (l%g)-- 6 23% 22% 23 +1% 16 3 Eitlngon Sch _ 9 5% 6 5% +• % 45% 15% Elec Auto L(2.20g). 29 24% 22% 23 + % 16 3% Elec Boat_ 17 6% 6% 6% + % 7% 3% Elec* Mus (.18*).. 3 4% 4% 4% 26% 6% Elec Pow * Lt _ 136 11% 10 10%-% 87 24 Elec P A L *6 pf.... 6 39 36% 36%+% 92% 27 EiecPALpf.- 11 42 39 39 -1 44% 22 ElecStor Bat (2)_ 2 27% 27% 27% 41 2 % Elk Horn Coal (r).. 1 % % % + % 8 1% Elk Horn Cl pf (r). 1 2% 2% 2% 29 14% El Paso Nat G (2).. 2 19% 19 19%+1 17% 3 Eng Public Service. 4 5% 5 5% — V* 78% 42 EngPub Svcpf (5). 1 41 41 41 -1 9% 1% Equit Oft Bldg_ 2 3% 3% 3% 23% 4% Erie R R _ 18 9% 8% 8% + % 85% 8% Erie 1st pf_ 7 13% 12 12 +1 28% 6 Erie R R 2d pf_ 3 9 9 9 + % 14% 3 Eureka Vacuum Cl- 1 5% 5% 5% + % 34V* 7 EvansProd(l)_ 14 11% 10% 10%+% 6% 1% Exchange Buffet__ 2 2 1% 1% + % 5% 1 Fairbanks Co_ 200« 2% 2% 2%+1% 28 7% Fairbanks pf_ 40» 10% 9% 9% + % 71% 23% Fairbanks Mrse(la) 4 30% 29% 29%+% 70 26 Fajardo Sugar(3g). 8 35 34 34 —1 29% 7% Federal Lt A True . 4 10 9% 9% 103 77 Fed LtATrac pf(6). 20* 77% 77% 77%+% 11% 2 Federal Motor_ 6 4% 3% 3% + % 11% 2% Federal Screw_ 4 4 4 4 + % 6 IV* Federal Wat Svc A. 3 2% 2% 2% + % 48% 17 Fed Dept Strs (2)._ 3 24% 23% 24% +2 108% 65 Fed D Str pf (4%).. 1 72% 72% 72%+1% 45% 22% Fid Phoenix(l.SOa). 5 29 28% 28%+% 41% 16% Firestone T A R(2) 11 24% 23 23% +1% 52V* 30 First Nat Strs(2%) 3 36% 36 36% +1% 46V* 11% Flintkote (1) 14 16% 14% 15 58% 31 Florence Stov 1.50g. 1 36 36 36 +4 9% 1% Follansbee Bros . 4 2% 2% 2% + % 58 27 Food Mach (2.60a)_ 3 35 33% 33% 54% 11% Foster Wheeler — 8 18% 16% 16%-1% 18% 2% Francisco Sugar— 7 5% 5 6 + V* 32V* 18 Freeport Sul (lg)-. 3 23% 22% 22% +1% 117 102 Freeport Sul pf («) 90e 103% 103 103 48% 6% Fuller 2d pf_ 30* 11% 11% 11%+% 7% 1% Gabriel A_ 7 2% 2% 2% - % 15% 3% Galr (Robert)- 14 6% 6 6 -% 39% 20 Galr (Robt) pf (8). 5 23 22% 23 + % 33 10% Game-well.. ... 40e 14% 13% 14% +1 106% 90 Gannett cv pf (*).. 10* 92 90 90 19% 4 Gar Wood Ind <%g) 5 7% 7% 7% 15% 5% Gen Am Inv- 3 8% 7% 7% 86% 38% Gen Am Trns(l%g) 9 42 41% 41% +1 19% 5 Gen Baking (.80)_ 16 8% 7% 7% - % 14 2% Gen Bronze__ 8 4% 4% 4% + % 32% 6% Gen Cable_ 18 12 11% 11%+1% 65 14% Gen Cable A - 4 23% 22% 22% J-1% 52% 22% Gen Cigar (2.50g)._ 5 25 24% 25 +1 64% 34 Gen Elec (1.20g)_ 109 42% 40% 41 - % 44V* 28% Gen Foods (2)_ 13 33% 33% 33% +1 3% % Gen G A El A_ 24 1% 1% 1% 4N (ien Mills (5)_-_ 1 o.v'* o.5Tt o.v* -riy* 124 117 Gen Mills pf (6)_ 30* 120 118 118 -2 70*4 3174 Gen Motors (2 74S)- 150 41!4 39** 4074 122*4113 Gen Mot pf (5)- 1114 114 114 1574 374 Gen Out Adv__ 3 6*4 5*4 5*4 — 74 6074 2m Gen Out Adv A_ 2 26V* 26 26 19 8*4 Gen Prtg Ink(.60«). 10 11** 11 1174+ *» 5** 1*4 Gen Pub Svc _ 1 274 274 274 + 74 65*4 17 Gsn Ry Signal (1)— 3 22 21 21 -1 6*4 1 Gen Real & Util- 18 2 1»4 174 4874 14 Gen Real * Ut pf— 2 19 187, 1874 +1 7074 18 Gen Refract (2k)_ 4 32 28** 2874 - *4 88 1374 Gen Stl Cast pf 100* 25*4 23 23 - 74 33*4 974 Gsn Theater Eq .76* 4 1474 14 14 4374 1974 Gen Time In (la)—. 2 21 21 21 +1 3874 8 GenT!re&R ( 50*)- 17 14 13 1374 + 74 2074 8 Gillette Saf R .75*.. 31 1U4 1174 117* + S 8874 56 Gillette pf (5)_ 3 6674 63 6674 +10*4 291* 7*4 Gimbel Bros _ 26 11** 974 10 — 74 90V* 4974 Gimbel Bros pf (6). 4 57 56v* 5674 +174 5174 207* Glidden Co (2a) . 12 29 27*4 28 +1 58*4 45 Glidden cv pf (274). > 1 45*< 45** 45*4 — 74 (4 W Glidden rta Oct 25— 10 A lit 4r 67* 174 Gobel Adolf _ 8 2** 2*« 24» + 74 8*4 2 Goebel Brew <20a). 6 3’* 3** 3*» 50*4 13 Goodrich (BF) 1«— 25 20*4 19V* 19** + v* 87*4 50 Goodrich pf (5) 1 57*4 57** 57*4 + ** 471* 1674 Goodyear T&R 1.60( 102 23*4 21*4 22V* + IV* 141 77 Goodyr T&R pf (5). 1 84 84 84 +7 1374 374 Gotham Silk H..—. 3 6*4 574 51* + ** 41* 1*» Graham-Paise—•— 130 2V* 2 274 + 74 15 3 Granby Consol-- 13 6** 674 574 + 74 614 174 Grand Union-- 12 z*4 174 274 + S 27** 10 Grand Union pf 2k— 2 1374 18 13 + 74 48*4 1774 Gran City Stl 1.50 — 10 1874 1774 177* 47*4 26*4 Grant (WT) (1.40a) 1 2974 2974 297* + 74 66*4 2374 Great Nor Ry pf 17 2974 2774 2774 — 14 287* 10 Grt Nor Ore ct( 14 k) 12 1474 13*4 1374 42V* 2374 Grt Wst Sug(2.40a) 8 30 29V* 2974 +2V* 39*4 1 57* Green (HL.) (1.60a) 8 21 20 2074 + 74 64V* 50*4 Green Bay (274s) — 60s 5074 6014 60*4 — 74 167* 774 Greyhound (.60) — 22 1174 1074 10*4 — 74 1174 774 Greyhound pf (.55). 2 87* 874 874 4** 74 Guantanamo Sus— 1 1*4 1*4 114+74 1774 3V* Gulf Mob & Nor- 2 6*4 5 6 -1 597* 12 Gulf Mob * Nor of- 2 1874 1874 1874 + 74 2014 4** Hall Print ' — 20 7«4 7 77* + *4 31 19 Hamilton W (1.25s) 2 21** 2174 21V* + IV* 108 101*4 Hamil Wath pf (6) 40» 1017* 10174 101*4 — 74 68*4 18 Harb-Walk (1.50s). 10 231, 21 22 +2 171* 5 Hat Corp (.60*) .. 3 8 714 714 + ** 10657 71*4 Hat Corp pf (674)— 10* 75 75 75 +3 8 1*4 Hayes Body — 9 374 274 274 — 74 11774 8074 Hazel-Atlas G1 (5a). 2 9374 91 91 +1 1574 6 Hecker Prod (.60a). 18 874 8 8 3914 11 Hercules Mot (1) — 7 1774 17 17 +1 185 105 Hercules Powd (6). 7 118 11474 115 +1 111 88 Hershcv pf (4a)_— 2 92 92 92 +3 52*4 1574 Holland Furn 1.60*. 4 2274 2174 2174 + 74 12074 94 Holland F pf (5)- 20* 94 94 94 30*4 10 Hollander (l)- 2 14 1874 1374 +174 43*4 1874 Holly Sus (274*)—. « 23 21 2274 +2 1 6074 *9*4 Homestaks Min 474. 7 46 4474 4474 - 74 12:no noon Prev. 1837 Stock and Sales— Net High. Low. Dividend Rate. Add 00. High. Low. 2:15. chge. 41 23 Houd-Her A (2b).. 2 27 26b 26b+1 27b 6 Houd-Her B (lb)-. 17 14 12b 13 + b 73 44 Household Fin (4). 1 51 61 51 4 lb 17b 4b Houston Oil_ 33 8 7b 7b 90b 37 Howe Sound (3a)-l. 12 52 50 50 +2 6b lb Hudson & Man ___ 3 2 lb lb — b 15b 3b Hudson & Man pf_ 2 5 5 5 23b 4 Hudson Motor_ 35 9b 8b 8b 4b lb Huod Motor__ 14 2b 2b 2b 38 8 Illinois Central_ 21 13b 12 12 72 41 111 Cent LL (4)_ SO* 43 43 43 22b 5b Indian Refining_ 3 7b 7 7b 4 b 47b 16 lndust Rayon (2)... 10 24 23bi 23b + b 144 80 Ingersol Rand(3g). 3 87 86 86 +3 131b 69b Inland Steel (4a)... 7 77 75 75 -lb 33b 6b Inspiration Copper. 75 12b 11 lib + b 6 3b Insuranshar (.10g). 4 4 4 4 13b lb Interboro Wap Tr .. 15 3% 3b 3b + b 64V* 20 Interchem Corp<2). 4 32b 30 31 —1 lib 2b Intercontl Rubber.. 3 4b 4b 4b + b 28b 6 Interlake Iron .40g. 60 lib 10b 10b— V* 9b 2 lntl Agrlcui .. 1* 3b 3b 3b — b 63b 18b lntl Agrl pr pf (3k). 9 27b 25 25 4 b 120 63 lntl Harv (2.60a)_ 28 81 77 77b -2b 16b 3 lntl Hydro-Elec A-. 43 6b 6b 6b - b 15b lb Int Mer Marine_ 14 4b - 4b 4b + b 18b 6 lntl Mining (.45g).. 6 8b 8 8 73b 39b lntl Nickel (1.50«).t 90 47b 45b 46b + b 19b 7b lntl Taper & Power. 43 12b 10b lib — b 68b 36b lntl Paper&Pwrpf.. 27 49b 45 45b -2b 10 2b lntl Ry Cent Am .. 40* 3b 3b 3b 67b 35 Int Ry Cent Am pf. 160* 40 39b 39b + b 49b 30 lntl Shoe (2)- 3 36 35 35b + b 52 16 lntl Silver _ 2 23 22 22 42b 110 65 lntl Silver pf (8k).. 30* 73 70', 70', 4 b 15b 4 lntl Tel & Tel .. 56 7b 6b 6b 36b 9b Interstate DS 2.7ug. 21 15b 14b 15b +lb 107b 72b Interst Dept pf (T». 10* 77 77 77 30 20b Island Crk Coal (2). 1 22 22 22 +1 87b 55 Jewel Tea (4) _ 2 55 55 55 155 74 Johns-Manv (3a) .. 6 87 84b 84!* - b 126 120 Johns-Manv pf (7). 10* 123b 123b 123b +lb 136 80 Joneg&I.au pf 5.25k 120* 82 80 80 -2 46 18 Kalain Stove 1.50g . 2 22 22 22 4 lb 29 5 Kansas City Sou . 3 9b 8b 9 44b 14b KansasClty Sou pf. 1 17 17 17 +lb 35 15 Kaufmann Dep 1.60 1 20 20 20 +1 27b 14b lvayser (.1) (2k) ... 2 16b 16 16b 4 V* 23b 7 Kelsey-Hayes A_ 9 10', 9b 9b + b 19b 4 Kel-Hayes Wb B._. 12 7b 6b 6b - b 69b 30b Kennecott (2f> ... 65 39b 37b 37b -1 20b 5b Keystone R&W (1). 8 10 9b 10 +lb 46b 24 Kimb-Clark (la)... 1 25 25 25 +1 9b lb Kinney (U R)__ 2 3 2b 2b — b 35b 12 Kinney pr pf _ 40* 15V* 14', 14b 4 b 15b 4 Kresge Dep Stores. 1 7 7 7 42 29b 16b Kresge (SS) 90g . 10 18b 18b 18b + b 47b 25 Kress (S H) (l.«0). 1 30 30 30 -r 1 24b 14b Kroger Groc (1.60). 6 18 17 17 41b 8 Laclede Gas pf_ 60* 15 14 15 42b 24 13 Lambert <Z) b 164 In4 154 + 4 174 64 Lane Bryant(4g).. 1 74 74 74 +14 274 9*» Lae Rub&T 1.60g . 6 15 144 144 + 4 614 14 Lehigh Port C (14) 3 19 184 184 +14 34 4 Lehigh Valley Coal. 86 14 1 14+4 184 3 Lehigh Val Coal pf. 4 54 5 5 + V* 244 44 Lehigh Valley R R_ 15 74 7 7 + 4 43 4 234 Lehman Corp (la).. 11 31 284 284 —14 214 8 Lehn & Fink (14).. 4 12 114 114+4 584 23 Lerner Stores (2a). 4 294 284 284 + 4 79 384 Lib-Ow-Glass (3g). 14 51 49 49 -4 154 54 Libby McN&L 1.4dh 3 94 9 94 + 4 29 23 Life .Savers (1.60a>. 4 254 25 25 +14 114 834 Liggett * M B (4a). 4 88 864 864 -4 234 154 Lily TulCup (14). 2 17 17 17 + V. 834 184 Lima Loco (lg)_ 12 294 27 274 +1 63 37 Link Belt (2) i 2 42 41 41 +1 26 14 Liquid Carb (1.60a) 6 204 184 194 -4 874 53 Loew s Inc (6g)_ 25 654 63 63 — 4 110 101 Loew's pf (6 4)_ 2 105 105 105 +1 34 1 Loft ... _ 51 14 14 14 754 32 Lone Star Cem (3).. 6 374 36 364 -4 104 24 Long-Bell A .. 7 4 34 34 434 18 Loose-Wiles( 1.60g) 5 224 214 224 + 4 110 102 Loose-WB 5% pf(5) 10* 102 102 102 284 154 Lorlllard (P) (1.20) 16 184 184 184+4 284 144 Loulsv G&E A 14 4 18 17 17 99 49 Loulsv & Nash(og). 3 55 4 54 4 544 — 4 414 134 Ludlum Steel (1) .. 9 21 194 194 -4 36 134 McCall Corp (1*4)— 5 17 154 154 -4 244 74 McCrory Sirs _ 7 114 104 104 21 124 McOraw Elec (1) .. 1 144 144 144 + 4 284 9 McGraw-H ,574g._ 2 134 124 124 -4 424 304 McIntyre Pore (2).. 7 34 4 334 334 + 4 424 194 McKeesport T (2).. 26 264 254 254 +14 164 54 McKesson & Rob... 1 94 9 9 - 4 474 33 McKess&R pf (3). 17 37 37 37 +1 19 6 McLellan Strs(95g) 17 94 84 84 + 4 624 184 Mack Trucks (D... 4 264 254 25V* - 4 584 27 Macy (R H) (2a)... 13 37 4 344 344 -4 154 84 Mad Sq Gar (1.15gL 1 104 104 104 + 4 63 184 Maanta Cop (148)- 3 26 244 244 +24 74 14 Manat) Sugar (r)—. 2 - 3 24 24 — 4 30 6 Manatt Sug pf (r).. 10* 74 74 74 — 4 164 74 Mandel Bros (lg).. 1 84 84 84 +24 164 44 Man Ry modgtd(r) 3 6 54 54 + 4 294 94 Manhat Shirt (1)._. 4 13 12 13 +14 64 14 Maracaibo Oil . ... 3 24 24 24 + 4 144 54 Marine Midi (.40a). 14 84 74 84-4 39 9 Market St Ry pr pf. 20* 11 11 11 +2 514 274 Marlin Rock (2)_ 1 274 27% 274 304 94 Marshal Field_ 13 144 13*% 134 + 4 294 10 Martin (Glen;_ 10 144 134* 134 - 4 134 14 Martin-Parry_ 3 34 34 34 + 4 74 20 Masonite tla)_ 3 31 294 294 -14 414 224 Math Alkali (14)... 1 26 254 254 -4 664 36 May Dept Stra (3a) 4 45 43 43 +14 154 44 Maytag ... 3 64 6 64 +1 111 97 Maytag 1st pf (6)— 10* 954 934 934 -54 344 114 Mead Corn (lg) — 7 164 154 154 -4 934 68 Mead pf B ww 5.50_. 1 68 68 68 864 50 Alelville Shoe <5)_ 2 55 55 55 +3 164 3 Menget 20 6 4 5 4 54 + 4 474 20 Mengcl 5% pr<2V4 ) 160* 25 24 244 + 4 41 184 Meroh&Min (1.60) 90* 19 18 18 - 4 724 34 M^sta Mach(3.75g). 5 42 40 42 +3 264 44 Miami Copper 44 94 84 84 + 4 354 14 Mid-Cont Pet (Hs) 22 204 194 194 + V* 484 15 Midland Steel (2) . 8 23 21 21 122 88 Midland Stl 1 pf(S) 70* 97 944 944 -4 164 44 Minn-Mol Imp . 20 "Vi 64 64 108 70 Minn-M T pf 6.50k x 2 70 70 70 +64 64 4 Minn StP&SSm LL. 50s 14 14 14 + 4 34 164 Mission Corp (lg).. 3 184 184 184 94 2 Mo-Kan-Texas_ 26 34 24 3 344 54 Mo-Kan-Tex pf_ 17 104 94 10 + 4 64 14 Mo Pacific <r)_ 3 2 14 2 +4 124 14 Mo Pacific pf (r)_ 8 34 34 34 + 4 404 144 Mohawk Crp(l.20a) 4 21 20 21 +1 1074 794 MonsantoCh 148 3 88 844 85 69 30 Montgom Ward(Za) 85 414 394 394 + 4 34 *» Mother Lode _ 11 4 4 4 384 124 Motor Prod (2.50g). 12 204 194 194 -4 26 8Vi Motor Wheel (1.60) 17 154 134 144 +1 54 184 Mueller Brass (la). 2 23 224 224 + 4 154 44 Mullins Mfg (B> .. 12 64 64 64+4 364 12 Munsingwear 1.50a. 3 14 134 14 +14 90 52 Murphy (G C) 3.60. 7 544 53 544 +14 1084 102 Murphy pf (5)_ 60* 1064 106 106 204 3 Murray Corp_ 24 74 64 7 + 4 24'* 5 Nash-Kelv (1)- 47 134 12H 124 — 4 474 124 Nash Chat & 3tL— 60* 144 14 144 +14 24 8 Natl Acme (4s)— 7 124 114 114— 4 184 64 Natl Aviation .. 4 8 7*» 74+ 4 334 184 Natl Biscuit (1.60). 26 214 21 21 + 4 334 16 Natl Bnd & Inv 144 1 18 18 18 + 4 384 13 Natl Cash Reg(lg). 15 214 20 4 204 -14 nn 1.) Dni... D / I *)ft\ OQ 1 1C 1 C _ 1 24% 5% Natl Dept Strs -- 25 8% 7% 7% + % 10% 4 Natl Dept Strs pf— 1 5 5 5 — % 35 17 Natl Distill (2)_ 23 24 22% 22%+% 18% 4% Natl Gypsum- 22 7% 7% 7% + % 44 18 Natl Bead (%) _ 8 27% 26% 26% -1% 150 127 Natl Bead pf B (6)- 40* 130% 130 130 61% 21% Natl Mal'able l.SPg. ■ 3 26 25 25 +3% 14% 6 Natl Pw & Bt (.60). 35 8 7% 7% + % 99% 55 Natl Steel <2.50a) — 10 64 62% 62%-1% 41% 18 Natl Supply 28 24% 22% 23 - % 137 92 Natl Supply pf 3%k 1 99 99 99 +2 12% 3% Natl Tea (.30c)- 4 4% 4% 4% -r % 13% 6% Natomas (.80)_ 2 8% 8% 8% + V* 57% 23% Neisner Bros (2)— 2 27 25% 27 +3 64% 37 Newberry JJ (2.40). 2 39% 39 39 +% 41% 10% Newp't Indust (2g). 46 17% 15% 16%+ % 98% 37 N Y Air Br (1%*)~ 4 41 39 40 +1 65% 15% NY Central - 130 20% 19% 20 +% 72 14 N Y Chi & St Louia. 4 25 22% 25 +5 100 31 NYChl&StBpf _ 4 41 40 40 + % 31% 15 N Y City Om 2.40g.. 2 19% 18% 18%+ % 12% 2% N Y Dock .180* 4% 4 4% + % 25% 5 NY Dock pf — 90» 9% 8% 8% 2 % N Y Investors (r)— 2 % % % + % ‘9% 2 NYNH&H(r> _ 9 3 2% 2% + % 26% 4% N Y N H & H pf (r). 7 6% 6% 6% V, 6% 1 NY Ont & West (r) 3 1% 1% 1% + % 15% 3 NY Shlpblds _ 9 5% 4% 4% + % 4% % Norfolk Sou (r) 5 1% 1% 1% + % 272 180 Norfolk & West(10) 1 195% 192 195% +10% 114 102 Norfolk & W pf (4). 10* 106 106 106 17% 3 North Am Avlat- 46 7% 6% 6% + % 34% 14% North Am (.90g)—. 62 19% 17% 17% — % 36% 9% Northern Pacific.— 49 13% 13% 13% + % 53% 34 Northwest Tel (3)_. 10* 37 37 37 +1 6% 1% Norwalk T & R-_ 3 2% 2% 2% + % 22% 9 Ohio Oil (%g)_ 60 13% 12% 12%-% 73 25 Oliver Farm_ 9 32% 30 30% + % 26% 6% Omnibus _ 19 10% 9% 10% + % 19% 6% Oppenhelm Col %g- 4 8 7% 7% + % 45% 20% Otis Elevator .80g — 10 24% 23% 24% +1 24% 6% Otis Steel 38 10% 9% 9% + % *28 14% Outboard M (2.BOg) 2 16% 16% 16%+1 75 48 Outlet (3a) .— 10* 48 48 48 103% 65% Owens-Ill G1 l%g - 4 75 72% 72%-2 23 9% Pac Am Fish (1.20) 8 11% 10% 10%-% 15% 2% Pac Coast - - 350* 5% 4% 5 +1 40 7% Pac Coast 1st pf 80* 13% 12^ 12 27% 4 Pac Coast 2d pf 110* 8% 7% 8 + % 32% 11 Pac Finance (1.80) 6 14% 14V* 14%+ % 38 22 Pac Gas & El (2) .. 6 26% 26 26%+% 53% 34% Pac Bighting (3a).- 2 41 40 40 -IV* 44% 10% Pacific Mills(l%g)- 5 15% 14% 14%+% 152 120 Pac Tel & Tel (8) 110* 125 124 125 +1 149 133 Pac Tel&Tel pf (•)- 20* 133% 133% 133% — % 92% 12% Pac West Oil C65e) 3 15 14% 14% + % 12% 4 Packard Mott.25g). 65 7 6% 6% — % 4% 1 Panhandle P&R (r) 3 1% 1% 1% + % 121 29 Panhan P&R pf (r). 60* 49% 41% 41% -3% 90 38 Paraffine (3g)- 2 44 43 <3-1 28% 8% Paramount Plot- 146 13% 12 12% — % *00% 80% Paramount 1 pf (6). 4 99 95 96 -2% t / r 12:00 noon Prey. 1037 Stock and Salc.s— Net High. Low. Dividend Rate Add 00. High. Low. 2:15. chge. 264 8 Paramount 2 pf(.60. 12 124 114 114 344 184 Park & Tllford (2)-. 3 204 20 204 +1 84 1 Park Utah _ 20 24 24 24 + 4 444 28 Tarke Davis l.SOg.. 3 34 33 334 -4 294 12 Parker Rust-Pr 14. 3 21 184 20 +2 74 14 Parmelee Trans__ 6 24 24 24 104 4 Pathe Film_ 17 64 54 54 - 4 234 8 Patinb Mlnss_ 10 114*11 11 74 24 Peerless <.30g)_ 6 44 44 44 + V* 64 37Va Penlck & Ford lV4g- 2 39 384 39 1034 654 Penney (JC) (3g)._ 10 80 77 78 +1 64 IV* Penn Coal & Coke ... 1 24 24 24 124 24 Penn-Dixie Cement. 11 44 44 44 + 4 764 15 Penn-Dixle pf A .. 2 224 22 224 +34 294 14 i Penn G1 S’d ct .50*. 10 154 144 154 +4 60V* 20 Penn R fi dig) -. 30 264 244 25 +4 63 35 Peoples Drug (la).. 1 35 35 35 654 22 Peoples Gas Lt & C. 2 334 314 314 +14 17 3 Peoria & Eastern... 2 64 5 5 +14 484 9 Pere Marquatte 2 154 15 15 +24 87 43 Pere Marq pr pf(5). 1 42 42 42 -1 21H 94 PetroCorp (.OOg) . 7 124 114 114+ 4 13V* 3 Pfeiffer Brew ,90g). 10 64 6 6 +4 594 244 Phelps Dodge 14s- 24 294 274 274 -14 544 35 Phlla Co 6% pf (3). 2 36 36 36 7Vi 2 Phlla Rap Tr (r) — 10a 24 24 24 + Vi 14 24 Phila Rap Tr pf (r) 530a 4 4 4 34 4 Phlla Read C&I(r). 2 4 4 4 954 65 Philip Morris (3)_ 16 76 734 734 -14 20 54 Phillips Jdnes_ 1 6Vi 64 64 + 4 64 304 Phillips Pet (2a)_ 33 424 404 404 -', 94 24 Phoenix Hosiery — 1 34 34 34 + 4 744 27 Phoenix Hos pf 34- 10» 304 304 304 +24 204 4 Pierce Oil pf .... 6 74 64 64 + V* 334 204 Pills Flour (1.60)_ 2 24 23 23 -4 184 44 Pitts Coal_ 3 74 64 64 -4 764 25 Pitts Coal pf_ 1 30 30 30 +2 14V* 64 Pitts Coke & Iron ... 1 74 74 74 +1 20 44 Pitts Screw (,4og).. 10 9 84 8» + ", 43 8 Pitts Steel _ 2 14 134 134 +24 84 14 Puts United __ 9 24 24 24 47V* 84 Pitts & W Va *. — 120* 15 134 15 +2 294 13 Plymouth Oil 1.40 . 16 184 174 174 + 4 224 14Vi Pond Creek Poe (2). 4 15 144 15 + 4 334 7 Poor & Co B .... 7 10 94 94 + 4 114 14 Porto Rlc-Am T A.. 6 34 24 .3 + 4 34 4 Porto R Am Tob B 1 14 14 14 + 4 154 24 Postal T&Cpf (r). 8 44 44 44 314 54 Press Stl Car .25g . 20 94 84 8', + Vi 86 20 Press Stl C 2 pf 2 4. 2 264 25 264+24 654 434 Procter & Gam (2a) 2 524 51 51 +2 1184 1144 Procter & G pf (6).. 50* 1154 115 115 524 304 Pub Svc N J (2.60). 4 374 364 37 +14 1624 132 Pub Svc N J pf (S). 10*133 13.3 133 724 254 Pullman (1H)_ 8 334 32 324 +4 244 84 Pure Oil ... .. 70 12V, 12 124+ V* 107 85 Pure 011 6% pf (6). 1 87 87 87 1124 1074 Pure Oil pf (S) ... 50*110 110 110 234 54 Purity Bak (.45*) 11 94 84 9 -4 184 14 Quaker St Oil (.70g) 2 14 14 14 124 4 4 Radio Corp 17ft 74 7 .4 — 4 80 484 Radio cv pf (3 4)-- 4 584 54 55 -2 104 24 Radio-Keith-O (r)_. 74 54 44 44 + 4 47 21 Reading Co (2)_ 1 25 25 25 +2 134 34 Real Silk_ 2 5 44 44 -r 4 44 1 Reis & Co _ 1 14 14 14 224 84 Reliable Strs (1)... 2 114 104 104 +4 294 84 R*m Rand (1.05b)-. 34 14'. 14 144+4 944 65 Rem R pf ww (414) 1 65 65 65 94 14 Reo Motor 90 34 34 34 + 4 474 124 Republic Steel 154 184 164 174 -4 1104 90 Republic St of A(6) 3 78 78 78 -144 494 9 Revere Copper & B 2 16 144 15 139 110 Revere Cop pf (7).. 20s 96 96 96 -124 304 124 Reynolds Met (1)„ 3 164 16 16 -4 344 8 Reynolds Spr 41)_ 4 124 114 12 +4 67 55 Reynolds Tob (3) . 40* 574 574 574 -J14 58 43 Reynolds Tob B (S) 13 484 464 48 +14 64 44 Richfield Oil Corp 14 6 54 54 — 4 314 94 Ritter Dental 75g_. 2 144 144 14'-*+14 38 174 Ruberoid ( 60)_ 3 21 £0 20 -1 94 1 Rutland pf.. 2 24 24 24 + 4 46 21 Safeway Strs (2) .. 4 28 25 25 +2 113 1014 Safewav 7% pf (7). 10* 1024 102'-* 1024 - 4 65 274 St Joseph Lead (2a) 3 364 354 354 + 4 44 1 St L-San Fran (r) . 2 14* 14 14 - 4 114 1»« St L-San Frn pf (r) 7 34 34 34 +4 274 11 Savage Arms! 75g) 4 154 144 144 514 244 Schenley 5lstill(3). 18 304 30 30 + 4 984 86 Schenley pf (54)1 80 80 80 -64 34 4 Schulte Ret <r) .. 5 1 1 1+4 234 34 Schulte Ret S pf(r) 3 64 64 64 - 4 454 364 Scott Paper < 1.05*) 30* 364 36 364 24 4 Seaboard Air L (r) 2 1 1 1+4 84 14 Seaboard A L pf (r) 2 24 24 2'* + 4 544 16 Seaboard Oil (l)-__ 14 214 20 20 -4 114 34 Seagrave Corp_ 1 44 44 44 + 4 984 57 Sears Roeb (3)_ 60 684 654 66 34 134 Serve! Corp (la)_ 8 19 184 184 + 4 424 15 Sharon Steel (1.20). 3 21 204 20'.- 4 14 34 Sharp & Dohme _ 4 64 54 54 + 4 174 64 Shattuck FG (.60).. 12 9 4 8*. 94 - 4 44 244 Sheaffer Pen 2.25g. 160* 27 25 27 +2 344 154 Shell Union < 46)-- 7 304 19 19 -14 1054 974 Shell Un pf (54) - 1 97 9~ 9" “1 174 54 Silver King ).90g)_. 14 84 84 84 + 4 58 174 Simmons Co 1.75g 24 284 26 264 + 4 26 19 Simonds Saw <.50g) 2 21 194 194 + 4 604 284 Shelly Oil <lg) 4 344 334 334 + 4 197 70 Sloss-Sheffield S A 1 20. 75 75 75 +1 120 96 Sloss-Sheffield pf(6 40* 103 1024 1024 + 4 544 13 Smith lAOl 3 164 154 164 +14 404 13 Smith & Cor (14b) 3 18 164 164 -4 29*. 94 Snider Pack (14*). 2 134 124 134 + 4 234 13 Socony Vac 50*) 160 164 154 154 + 4 64 14 Sou Am G & P .20g.. 10 24 24 2'-* 424 204 South P.R.Sug (2a) 7 274 254 254 -1'. 324 17'. Sou Cal Edis (14a) 4 204 19'. 204 + 4 654 17 Sou Pacific_ 44 224 204 214 - 4 43*. 9 Southern Ry _ 46 154 134 144 - 4 604 15 Southern Ry pf_ 3 22 21 214 +14 114 14 Spalding 7 4 3'. 34 — 4 774 354 Spalding 1st pf_ 20* 42 40 40 +44 94 14 Sparks With _ 14 S'. 3*. 34 + V* 31 7 Spear & Co _— 2 10 94 94 +1 36 20 Spen-Kell (1.60a)... 2 224 22 22 +14 234 10 Sperry Corp ( 6(Jg)- 27 144 13'* 134 35 144 Spicer Mfg (2g)- 2 19 18 18 + 4 50 44 Spicer pf A (3)_ 20* 41 41 41 +1 28*. 84 Spiegel, Inc (1)_ 46 14 124 13 + 4 954 55 Spiegel pf (44) 120* 63 60 60 —3 484 18 Square D Co (,95g). 4 23 214 214 164 74 Stand Brands (.SO) 43 10*. 104 104 + 4 12-4 24 Stand Com Tob . 2 44 34 34 - 4 144 24 Stand Gas & El (r). 20 5 44 44+ '« 324 5 StandG&Ep? (r) 17 104 94 94 - ’* 65 10 Std G&E $6 prpf(r) 7 21 184 19 +4 724 14 St G&E 7% p pf(r) 14 234 23 23 +1 50 28 Stand Oil Calif (la) 4 34'. 334 34 50 264 Stand Oil Ind (la).. 8 354 34'. 344 + 4 76 424 Stand OH N J (la) .. 35 54 4 514 514 —14 48 224 Starrett (LS) 3g ... 2 27 27 27 +2 75 544 Sterling Prod(3.80) 5 58 574 58 21 54 Stewart-Warm 4a) 16 104 104 104 174 84 Stokely Bros 1.20g.. 1 104 104 104 + 4 334 64 Stone* Web_ 41 124 114 114 - 4 20 3 Studebaker_ 60 8 74 74 + 4 774 54 Sun Oil (la)_ 2 58 58 58 125 118 Sun Oil pf (6) 40* 123 123 123 224 9 Sunshine Mng (3) — 11 144 134 134 614 18 Superheater (l.?5g) 6 264 26 26 +24 74 14 Superior Oil _ 49 34 3 3 +4 474 8 Superior Steel .. 10 154 144 15 +14 394 18 Sutherl’d Pap 1.60a. 2 21 204 21 +1*. 284 154 Swift & Co (1.20) - 10 194 18*. 184 -4 334 224 Swift Inti (2) ... 7 27 254 254 —14 23*. 4*. Symington ww ,60g 14 84 84 84 + 4 174 4V. Symington xw 60g. 6 74 7 7 — 4 i r i m.-. 1 i t \ cn.» £ 7i« 771*. 4- l* 15 - 5% Tenn Corp (%g)_ 16 8% 7% 7% + % 65% 34% Texas Corp (2) 53 44% 41% 41% -3 9% 2 Texas Gulf Prod __ 27 4% 3% 4 44 23% Tex Gulf Sul (2a)_ 12 31% 30% 30% - % 54% 16% Tex & Pac Ry --- 2 21 20 20 - % 16% 5% Tex PacC&O ( 40)_ 32 9 8% 8% 15% 5% Tex Pac Land Tr__ 16 7% 6% 7 — % 48 19 Thatcher (.Tag)__ 2 23% 22% 23% +2% 13% 3% The Fair_— 4 6% 6% 6% +1% 13% 2% Thermoid_ 19 5% 4% 4% + % 813 1% Third Ave _ 3 2% 2% 2% + % 15% 4% Thompson(JR)(%) 3 5% 5 5 —1% 28% 10 Thomp Prod 1.40g.. 8 17 15% 15% —1% 10% 1% Thompson-Star . 13 3 2% 3 + % 40% 6% Thompson Starr pf. 2 10% 10% 10% +1 21% 13% Tide-Water As(la) 28 16% 15% 15% — % 98% 81% Tide-W As pf (4%) 1 85 85 85 28% 8% Timk-Det Ax .50g . 28 14% 13% 13% — % 79 36 Timken Roll B(3a). 12 49% 46% 47 + % 17 10 Transamerica Corp 24 12% 12 12 — % 22% 4 Trans & West Air 16 7% 6% 6% + % 27% 5% Transue & W ( 30g) 5 9 7% 8 + % 11% 3% Tri-Cont Corp (%g) 17 5 4% 4% + % 12 4% Truax-Traer (.80).. 22 7 6% 7 + % 26% 7% Truscon Steel — 2 8% 8% 8% +1% 40% 18% 20th Cent-F 1.50g— 7 26% 25% 25%+ % 50 25% 20th C-F F pf 1% — 2 32 32 32 +1% 17% 2% Twin City R T — 3 5% 5% 5% + % 94 40 Twin City pf (7k).. 20» 45% 45 45%+3% 26% 7 Twin Coach <-30g). 7 10% 9% 9% — % 6% 1% Ulen & Co -- 3 2% 2% 2% + % 100% 57 Und'w'd-El-F 3.25g. 2 65 62 64 +1 18% 9 Union Bag & Paper. 20 11 10% 10%+ % 111 67 Union Carbide 3.20g 40 81 77% 78%-% 28% 17% Union Oil Cal 1.20a. 17 22% 21 21 — % 148% 86% IJn Pacific (6) 3 96% 95 95 -3% 99% 78 Un Pacific pf (4).— . 1 84 84 84 +5 31% 22% Un Tank Car (1.60). 1 22% 22% 22% — % 35% 10% Unit Aircraft < %g) 48 18** 16% 16% — % 24% 5% Unit Air Lines- 24 8% 7% 7% - % 31% 7 Utd Am Bosch- 3 10% 9% 9% +1% 30% 15 Unit Biscuit (1.60). 10 19% 18% 18 i + % 117% 110% Unit Biscuit pf (7). 10» 114 114 114 +3% 91 55 United Carbon <4a) 5 66 6a 66 +5 8% 2 Unit Corp 93 3% 3% 3% 46% 25% Unit Corp pf (3)- 7 30% 29% 29%-% 16 6 Unit Drug ( %g>-— 16 8%- 7% <%+*» 26% 6% Unit Dyewood (la). 3 11% 10% 11 +1% 9% 2% Unit Elec Coal - 28 5 4% 4% + % 63 24 Unit Eng&Fy l.BOg 2 32l* 31 31 4 86% 52 Unit Fruit (3) ... 9 62 60% 60%+ % 17 9 Unit Gas Imp (1) _ 45 11% 10% 10% + % 113% 101 Unit Gas Imp pf(5) 2 102% 102 102 16% 3% Unit Paperbd (.30g) 5 5% 6% 5% 20% 4% U S Dlstrib pf — 90s 7 6% 6% + % 24% 6% U S & Foreign Ssc13 8% 7% 7% -1 34% 5% US Freight (l%e). 3 10 137 66 US Gypsum (2)- 3 73 70 |70 —1* 23% 6% U S Hoffman Mach. 8 9% 8% 8% -1% (Continued on Page A-21.) * A i I I \ Pressure on Steels Stops Early Advance and Vol ume Dwindles. Slock Averages an 15 is 6n Indust. Rails, Util. Stock. Net change. Unc. +.1 -f.6 + 2 Today, noon 69.2 23.2 34 5 48.9 Previous day 69.2 23.1 33.9 48 7 Month ago. 80.0 29.3 37.0 56.3 Year ago... 94.4 42.2 52.9 70.9 1937 high...101.6 49.5 54.0 75.3 1937 low_ 64 3 20.7 31.6 45.1 1936 high... 99.3 43.5 53.7 72.8 1936 low_ 73 4 3<*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 PresiO BY VICTOR El'BANK. Associated Press Financial Wri’er. NEW YORK. October 21 —The run away recovery in the stock market was 1 checked today, after an upsurge at the start, by widespread profit selling and renewed liquidation in steels. The list got off at high speed Blocks of 1.000 to 5.000 shares changed hands on continuance of the advance. The ticker tape, late during the entire first hour, was six minutes behind at one time. Offerings of more than ordinary quantity then began to make their appearance and leaders quickly gate ground. Initial gains up to 3 or more points were reduced, canceled or re placed by losses in the afternoon. Dealings quieted. Helpful to both domestic and foreign sentiment was the Italo-German agree ment on “token” withdrawals of volun teers from the Spanish War. Markets in London. Amsterdam and Paris ex hibited early strength but became mixed at the finish. Buying of Ameri can securities from abroad was report ed to have expanded. Secondary rails led a spirited for ward sprint in the bond department, although subsequently losing momen tum. commodities turned uneven after an upward flourish in the morning. Favored most of the time—some eventually retreated—were American Telephone. Sears Roebuck. Montgom ery Ward, Woolworth. J. I. Case. Oliver Farm. Caterpillar Tractor. Public Serv ice of New Jersey, American Water Works. Douglas Aircraft. Boeing, Goodyear, Goodrich, American Can, Phillips Petroleum. Cerro de Pasco. St. Joseph Lead. Howe Sound. Lima Locomotive, Southern Railway. Penn sylvania. Loews, Briggs Manufactur ing. Hercules Powder, Coca-Cola and J. C. Penney. -• NEW YORK COTTON By the Associated Press. NEW YORK. October 21.—Cotton futures opened steady, up 2 to 5 points on higher Liverpool cables, trade and foreign buying. December. 8 36; Janu ary. 8 31: March. 8 30; May. 8.30: July. 8 23; October. 8 40. Bombay. Liverpool and the conti nent were among early buyers. While Southern offerings cagitinued light, there was selling by commission houses, locals and New Orleans. More favorable European political news and early advances in the stork market helped the tone somewhat, but prices eased a few points in the absence of active demand. Trading, moderately active at the ! start, became quiet. Shortly after the first half hour March was 8.28. after having declined from 8.30 to 8.2". The list was about 1 to 3 points net higher. Generally fair conditions prevailed over the cotton belt, but there was no I immediate pick-up in the hedge sell 1 ing. Trade interest on both sides of the market was limited by quietness in the spot cotton and cotton goods i markets. The effects of the 9-cent loan in placing a so-called “ceiling” over the market and the influence of the holding movement in checking declines as seen by traders as limit ing price changes. Slight declines were registered later in the morning. Business tapered off. March at midday was 8.25. or within a point of the morning low. and the list was net unchanged to 2 poinu lower. . --m-— CHICAGO GRAIN By the Associated Press. CHICAGO. October 21. — Sudden bulges of more than a cent a bushel . in com values today attracted special notice among grain traders and at times eclipsed wheat dealings. Particular stress by friends of higher prices for corn was laid on cables saying American corn was getting closer in line for export to Europe. At Liverpool. American corn was quoted speculatively at 22 cents over Chicago December delivery of com and there was no duty on yellow corn into Great Britain. It was also pointed out that Canada has been importing 2.000,000 bushels of corn a month from South Africa and should be in the market extensively for United States sorts this Winter. Moreover. Washington dispatches said that following conferences be tween President Roosevelt. Secretary of Agriculture Wallace and Secretary of the Treasury Morgenthau. the director of the budget has been in structed to make a thorough study of the situation as to Government loans on corn. Significance was like wise attached to statements that the budget allowed $440,000,000 to take care of this year's farm program. Under such circumstances, active buy ing lifted December corn here quickly to 60ss cents, up l3g cents overnight. Wheat prices meanwhile scored fractional gains and then receded to well below yesterday's finish. Indica tions at this stage pointed to no im portant follow-up of yesterday's big European demand for North American wheat. The Liverpool wheat market, due l*/4-l% cents higher, closed today at U net decline to ** cent gain. Rye and oats followed respectively wheat and corn. Provisions reflected upturns of hog values and of corn. Around 11:15 a.m. corn was un changed to 114 cents higher, com pared with yesterday’s finish; Decem ber, 60'*: May, 611 i, and wheat was unchanged to ** lower; December, 99**; May. 993k. - MONEY MARKET. NEW YORK October 21 (4PV—Call * money steady t per cent all day. prime commercial paper. 1 per cent: ttm- loan* iteady. 60-90 days. IV ♦-« month*. 1*4 per cent: banker*' acceptance* unchanged: rediscount rate. New York Reserve Bank. 1 per cent. mtmM d