Evening star. [volume] (Washington, D.C.) 1854-1972, January 31, 1938, Image 16

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Evening star. [volume], January 31, 1938, Page A-16, Image 16
About Evening star. [volume] (Washington, D.C.) 1854-1972

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Evening star. [volume] (Washington, D.C.), 31 Jan. 1938. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83045462/1938-01-31/ed-1/seq-16/>

Newspaper Page Text

_ E
January Report Discloses
Drop of $7,125,965 From
Same Month in 1937.
By EDWARD C. STONE.
January bank clearings in Washing
ton disclosed a decline from January.
1937, according to the monthly report
of the Clearing House Association
made this noon.
Canceled checks passing through
the clearing house in January this
year totaled $93,436,118.87, in com
parison with total clearings in January
last year of $100,562,083.88, a decrease
of $7,125,965.01.
This modest recession follows a
slight drop in December from De
cember of the previous year, although
clearings for the full year 1937 were
Tar above the figure for 1936. Clear
ings in New York and other cities
turned down several months ago. while
business in the Capital continued to
maintain previous levels or exceed
past records.
The January slump in clearings
here is in line with many forecasts
that business generally all over the
country will be slow in the first quar
ter of 1933 and improve as the year
advances. No important setback in
Washington is anticipated by bankers
or business men on account of the
Government’s huge and very constant
pay roll.
With the exception of clearings in
January last year, today's report is
the best since 1931. Washington bank
clearings in January, 1936, totaled
<86.990,594.44; in January, 1935. they
dropped to $69,566,923.40; in January,
1934, amounted to $55,737,297.49; in
January, 1933. totaled $72,567,289, and
in January, 1932, stood at $92,855,
736.29. In 1931 January clearings
were higher than the figures reported
today.
Living Costs Still Downward.
After showing an upward trend from
the low for the depression in April.
1933. to October. 1937. the cost of
living took a definite downward turn
in November, according to the A’cxan
der Hamilton Institute. The decline
was extended in December and the
present outlook is that th? recession
will continue during the major part
of 1938.
As in the three previous years of
recovery, the rise in the cost of living
in 1937 was not quite sufficient to
offset the expansion in consumers' in
come. Consequently, consumers’ pur
chasing power rose for the fourth
consecutive year. In 1937 it was 21.3
per cent above the low for the depres
sion in 1933 and was only 10 per cent
below the pre-depression#level in 1929.
The present outlook is"that the de
cline in the cost of living in 1938 will
not be sufficient to offset the prospec
tive reduction in consumers’ income.
The drop in consumers’ purchasing
power from 1937 to 1938. however,
may not be much more than 4 per
cent, the survey says.
Advertising Trrnd Upwaru.
The Research Committee of the
Financial Advertisers’ Association, of
which Henry C. Ochs, vice president
of the association, is chairman, has
just completed a survey among the
association's membership on the
subject of advertising appropriations
for 1938.
Members reporting show that more
than 60 per cent will have the same
appropriation as in 1937. Thirty-six
per cent will increase their appropria
tion for the coming year and less than
9 per cent will decrease for 1938. In
the latter group are a large per cent
of banks that have utilized special
media during the year 1937 for specific
purposes, such as bank openings, anni
versaries, etc.
Analysis of the reports reveals that
educational and institutional copy
will predominate, but in all cases re
porting various departmental services
from Christmas savings accounts to
the large corporate trust and invest
ment services will be stressed in this
year's advertising.
Newspapers lead the list of medi^
to be used by 100 per cent of the
reporting members.
Auto Financing Falls Off.
The volume of retail financing of
new passenger automobiles for the
year 1937 amounted to slightly more
than $1,060,000,000, according to pre
liminary estimates of the Department
of Commerce. This valume is almost
4 per cent below the 1936 level and
slightly more than 2 per cent below
1929. the previous high year for this
business.
The daily average volume for De
cember, 1937. was almost 16 per cent
below that for December, 1936, but
was 20 per cent higher than December,
1935. Between November and De
cember there was an increase of 32
per cent.
Brooke Would Join Boards.
George D. Brooke, president of the
Chesapeake & Ohio Railroad, has
asked the Interstate Commerce Com
mission for the right to serve on
the Board of Directors of the Rich
mond, Fredericksburg & Potomac
Railroad and the Richmond & Wash
ington Co. He would also become
a director of the Cleveland Union
Terminals Co.
Ernest L. Norris, president of the
Southern Railway, is among the coun
try’s leading railroad magnates who
predict steady improvement in busi
ness conditions later in the present
year. In an expression of views by
several railroad presidents, he is one
of the most optimistic on the longer
outlook.
The Baltimore & Ohio Railroad
has notified the New York Stock Ex
change that it will pay interest to
morrow on its 4H per cent notes of
1939 and on the 4 Vi per cent con
vertible bonds of 1960.
Would Issue More Stock.
Dividend Shares, Inc., Jersey City,
has filed a registration statement
with the S. E. C. under the Securities
Act covering 16,515,041 shares of 25
cent par value capital stock to be of
fered at market prices. Proceeds will
be used for investment. Calvin Bul
lock is the underwriter.
National Underwriting Corp., Bal
timore, has filed a registration state
ment with the S. E. C. under the Se
curities Act covering a maximum of
1,000 units of National Llodys Under
writing participations, $1,000 face
value. Proceeds will be used for
equipment and working capital.
Today’s Trading on Exchange.
Thirty shares of Potomac Electric
Power 5 >'2 per cent preferred stock sold
at 112 on the Washington Stock Ex
change today, same as last week’s close.
Riggs National Bank common stock
appeared on the board again today with
10 shares changing hands at 290. This
was off from last week's sales at 295,
the high for the year.
J. Harvie Wilkinson, Jr., vice presi
dent of the State-Planters Bank Sc
Trust Co., Richmond, and well known
In Washington, has written a book, “In
vestment Policies for Commercial
Bank*.”
TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE
By Private Win Direct to The Stor.
2:30 p.m.
Prrv. 1037-8 Stock and Selee— Net
Hich. Low. Dividend Rate. Add 00. High. Low. dose. chte.
22% 7% Adams Exp (.600— 4 8% 8% 8% + %
86 16+ Addressog 41.40)_ 2 21 21 21
80+ 44+ Air Reduction (la). 6 47% 46% 47% +1%
6+ + Air-Way El Appl_ 12 1+ 1 1
16% 8 Alaska Jun (.60s)_ 59 12% 12 12+ + +
6% 1 Alleghany . 20 1% 1+ 1% + +
69% 11 Alleg pf $30 ww_ 4 12% 11% 12% +1
62+ 10+ Alleg pr pf _ 2 14 13+ 13+ - +
45% 13 Allegheny Steel_ 10 15% 15+ 16+ + +
27+ 6+Allen Indus (1) __ 3 8+ 7% 8+ 4 %
268+ 145 Allied Chem & D 6a. 5 158 155+ 158 43+
38+ 10 Allied Mills (2g) ... 13 12+ 11% 12 +1
21+ 6+ Allied Stores ... 14 7+ 6+ 7
83+ 34 Allis-Chaliui 3 60g). 15 42% 41% 42+41 +
39% 8+Alpha Portland <1). 2 12 11+ 12
8+ 1+ Anial Leather .. 6 2% 2+ 2+ 4 +
101+ 53+Am AgC(Del)7.75g. 1 57 57 67 -1 +
75+ 49+Am Bank N pf (3) . 20s 53% 53+ 53% 41
80% 2* Am Brake Sh 3.40g. I 31 31 31 4 +
160 109 Am Brake S pf 5 %_ 40s 126 125 125
121 69 Am Can (4 > .. 4 77+ 76+ 77+ 4 +
71 15+Am Car A Fy < %•). 2 21+ 21+ 21+4 %
104+ 36 Am Car& F pf <4g). 1 40** 40% 40%+%
33% 11+ Am Chain <1.60g)__. 9 14% 18% 14 + +
23% 6+ Am Colortype _ 8 6 6 6
33% 12+Am Cryst Sug(.BOe) 9 14+ 14 14
13+ 2 Am Encaustic Til ..• 2 4 *3% 4 4 %
13% 2+ Am & Foreign Pow. 14 3+ 3+ 3+ 4 +
68+ 14 Am & F P 16 pf_ 8 14 14 14
68+ 16% Am & For Pw $7 pf.. 7 17+ 16% 17++ +
38+ 6% Am & For Pw 2d pf. 10 8 8 8 4 %
11+ 2+ Am Hide & Leath_ 7 3+ 3+ 8+
17% 5% Am International... 5 6+ 6+ 6 4 %
58+ 14+ Am Locomotive_ 14 18+ 17% 17% — %
125 53 Am Loco pf (7g) .. 1 60 60 60 -1
29% 10+ Am Mach & Fy 20e. '3 12% 12+ 12+— +
13% 3 Am Mach & Metals- 2 4+ 4+ 4+
6R% 24% Am Metal (3g) .. 4 30 29+ 30 + %
129+ 100 Am Metals pf (6) l 103 103 103
31+ 25+ Am News Del 1 75g 100s 26 25+ 25% - %
16+ 3 Am Pow A* Lt 28 4% 4+ 4 +
72+ 22% Am P&L $5 4.63% g 3 24+ 24+ 24 +
87+ 28+ Am P&L $6 5.62+g 2 29+ 29 29+— +
29+ 9+ Am Radiat & St .60. 34 11+ 11+ 1 1%
45+ 15+Am Rolling Mill 21 19+ 18+ 19 4 +
29 7+ Am Seating <125g), 2 11 11 11 4 +
68 24+ Am SJlipbldg (2) . 70s 29+ 29 29 4 +
106% 41 Am S~m & Ref <75e) 44 47 45'* 47 41
73+ 22+Am Steel Fdy (2)... 12 26+ 24% 25+4 +
26+ 7% Am Stores - 1 10+ 10+ 10+4 1 +
187 140 Am Tel & Tel (9)_ 76 142+ 140 140+ -2
99 57 Am Tobacco IS) 3 65+ 65 65++2
99+ 68% Am Tobacco B (5)._ 6 67 66% 67 4 %
20+ 4+ Am Type Fdrs ... 5 6 6% 6 + +
29+ 8 Am Water Works.. 81 9+ 8% 9V6 4 +
79 25+ Am Woolen pf _ . 2 28+ 28 28+ 4 +
20 3+ Am Zinc L & S ... 15 6% 6% 6+ 4 +
69+ 24+ Anaconda Cop 1.76g 125 30+ 29% 30+41
97 39 Anacon W & Cable.. 2 40+ 40 40 — Vi
37+ 7 Andes Copper 50g.. 1 13+ 13+ 13+4 +
46 22 Arch-Dan-M «2>_ 1 27 27 27 -1
111 93 Armour Del pf (7).. 1 98 98 98 —1
13% 4% Armour (111) 70g__ 14 5% 5+ 5%
igo Armour ill pt <7)_.. 1 94% 94% 94% 42%
7o% 311 Armstrong (.25e)_ 7 33 31% 32% +1%
24% 6 Asso Dry Goods 4 6% 6% 6% + %
t)4%- 32% Ati h TSSF <2g) . 34 34% 33 34% +1
104 62% Atch T& S F pf (5). 2 65 65 65 ^2%
f-5% IS AH Coast | ilSfig). 2 21% 2i% 21% + %
29 5 Atl Gulf * W Ind .. 1 5s* 5% 5H-1H
37 IS Atlantic Ketln tl)-_ 2 21% 21 21%+ %
16% 7% A Has Cm p < .80 1 ... 8 8% 7% 7%
62% 39% Atlas Corp pf <31 .. 1 39% 39% 39s* - V*
94 28 Atlas Powder 3.75g. 1 42% 42% 42% - '*
133 101 Atlas Pow pf (5)_ 60s 110 110 110 +1%
36% 3% Auburn Auto _ 5 4% 4% 4%
9% 2 Austin Nichols_. 1 2% 2% 2% — %
9'* 2Vi Aviation Corp .... 8 3% 3% 3%
£3% 5 Baldwin Coco Ct__ 40 8% 8% 8% + %
40% 7% Balto & Ohio _ 28 8% 8% 8% + %
47% 9% Balto* Ohio pf_ 16 10% 97» 10% — %
434* 10% Barber Co (ll)_ 3 16% 16 15%+ %
36% 10 Barnsdall(l) _ 9 13% 13% 13% + %
115 108 Rayuk lstpf (7)_ 20*115 115 115 +4%
30% 8% Bena.x Avlariond). 17 12% 11% 12 + %
2*% 15 Beneficial Loan(2g) 2 17 16% 17 + %
62% 29 Best & Co <2%a 1 __ 9 32% 31% 32%
105% 41 Bethlehem Steel __ 131 56% 54% 55% +1%
129% 85% Betn Steel of <7) .. 1 91% 91% 91% +1%
69% 22% Bigelow Sanf 3 50g 2 22 22 22 — 7*
38 13 * Black & Decker (1). 8 14% 14 14 - %
29% 9 Blaw-Knoxi 1 20g) _ ,3 U7* 11% 11% + %
49s* 16 Boeing Aern 1 -tug) 47 £9% 28% 29% +1
93 76% Bon Amt (At le .... 30* 87 87 87 — %
28 16 I'.urUi'ii <1 tin» 21 18% 17% 17% — %
50% 22% Borg-W artier (2a) 13 22% 22 22% + %
15% 3 Posing * Maine 7 4 4 4
.’•5 % 15% Bower Roller B 50e ,2 17 17 17 -1
:S’* 7 Bridget* l Br 75g 2 8% 8% 8% + %
; 9:» 18 Briggs Mfg (4g) 12 21% £0% 21%+ %
53 7 Bklyn-Man Transit- 6 10 9% 9% + %
102% 21 Bklyn-Man pf (6).. 2 26 25% 25% -2%
s 1 Rklyn & Queens ... 1 1% 1% 1% — %
52% 14% Brooklyn I'n Gas.— 3 16% 16% 16%+1
24% 6 Brunswick-B tig).. 3 8% 8% 8% + %
25V* 6% Bucyrus-Erlet.75g). 3 8 8 8
117% 76 Bucyrus-E pf (7)._. 90s 81 80 81 — %
14% 2% Budd Mfg ....._ 13 6% 5% 6% + V*
98 35 Budd Mfg pf.. 20* 42 42 42 - %
13 2% Budd Wheel t.20g).. 2 4% 4% *4% + %
45V* 10% Bullard Co (2g) ... 1 16% 16% 16%+%
65V* 24% Bulova Watch (4).. 6 80V* 27% 27%+ %
18% 5% Burlington Milled) 1 7% 7% 7%
35% 16 Burr’s Add M .20e . 2 16% 16% 16%—%
45V* 10 Bush T Bid Dfct(r) 20* 14 14 14 + %
18V* 5% Butler Bros (.60) .. 1 7% 7% 7% + %
36% 16% Butler Bros pf ll %) 2 19% 19% 19%+ %
9Vi 2% Butte Copper! .lOg). 5 3% 3% 3% + %
33% 6 Byers* Co .. 6 9 8% 9
♦8% 18% Calif Pack (1.50a) — 6 £0 19% 19% - %
6% 1 (lallaltan */lnr . 12 2 1% 1% — V*
20% 4 (’alum* lire 1 log 8 7% 7% 7%
"7% 10 Campbell Wy (1) .. S 12 . 12% 12% - %
38% 9% Canada l>rv U Me 22 16% 15s* 15% - %
17%. <‘>% Canadian Pacific 12 7% 7% 7% + %
102 80 Caro Clin & Ohio! 4) 10s 76% 76% 76% -3%
35s. 13% Carpenter SH I 8og 1 16% 16% 16 ,
191% 79 Case 1.1 l> ifig) 1 81 84 84 *2
100 40 Caterpill Trac ,50e . 17 43 42% 43 — %
105% 97 Caterpillar T of (5) 1 101*8 101% 101% - %
41% 13 CelaneseCorp .. 17 15% 14% 15% + %
48% 19% Celotex Corp l.20g.. 1 20% 20% 20% — %
82% 52 Celotex pf (5) _ 80* 55% 65% 55% -1%
12% 2 Central Foundry_ 2 8% 3% 3%
107% 96 Cent 111 Lt pf(4%).. 10* 104% 104% 104%
41% 8 Central R R of N J.. 2 9% 9% 9% + %
86% *4% Cerro de Pasco(le). 4 39 38 38% — %
28% 3% Certaln-teed _ 4 6% 6% 6% + %
82 18% Certain-teed 6% pf. 110* 27 25 25 — %
63% 25% Champ Pap&F .25*. 1 28 28 28 + %
90% 39 Chesap Corp (3a)__ 5 39% 39 39%+ %
68% 31 Ches & Ohio .75e_ 18 33% 32% 33% + %
4 % Chi Gt West (r) 4 % % %
32 10 Chi ATall Order .25e. 1 11% 11% 11% + %
3% % Chi M St P& P <r> . 2 % % %-%
7% 1% Chi M St P&P pf(r). 1 1% 1% 1%
6% % Chi & N W (r) _ 4 1% 1% 1%
33 6% Chi Pneu Tool .... 4 10% 9% 10 + %
3% % Cht H i & t’ac tn 3 l i i
8% 1 C R 1 & P 6% of <r) 1 1% i% i%
22% 12 Chickasha C 0.50e 1 15 15 15 - %
15% 3 Childs Co 1 4% 4% 4% + %
135% 46% Chrysler Corp lOg . 150 54 51*» 53% +1%
21% 11 City ice* F(2> .. 1 12% 12% 12V*
92 57 City I & F pf (6%). 10s 66% 66% 66% +1%
10% 2 City Stores . 4 2% 2% 2% + %
48 17% Clark EquIpM.SOg) 2 18% 18% 18% + %
113 102% Clev El lllu pfM%> 70* 109 108% 109
48% 19% Clev Graph Br 2.80* 5 21% 20% 21 +1%
41 24% Climax Molyb 1.70g 3 34% ,34% 34%+1%
29% 13% Cluett Peabody «1)_ 5 13% 13% 13% — %
132% 110% Cluett Peab pf (7)_ 60*116 116 115
170% 93% Coca-Cola (3a)_ 3 115 115 115 -2
26% 8% Colgate-Palm-P- 6 8% 8% 8% — %
62% 18 Collins & Aik (6g)„ 3 22 21% 22
112% 95 Collins & Aik pf (5). 40* 95 95 95
61% 11% Colo Fuel & Ir tig) 1 15% 16% 15%+%
82 16% Colum B C(A)1.95g 6 17% 17% 17% - %
20% 4% Colum G & El .46g_ 41 7% 7% 7%
108 68% Col G A El pf A(«).. 1 70 70 70 -3%
39% 10 Colum Plct vtc (1). 3 12% 12 12% — %
46% 26% Columb Pic pf 2% x 2 31% 31% 31%-%
125*, 65 Col Carbon <4a > .. 1 65 65 65 -1
69% 30% Cornel Credit (4a)._ 5 34 34 34 + vi
8OV4 34 Cornel Inv Tr 1 ♦*).. 5 38 37 37% — %
21% 5 Cornel Snlv t 601 12 8 7% 8
33 20% Comwlth Edis 1.25 22 24% 23% 23% - %
4% 1 I'nni'vlii. A Soil 35 1% 1% jiy
75% 32 Comwlth&S pf ,75k. 2 32% 32 32 -1
45% 20 Cnngoleum-Nrnt21 5 21% 20% 20% -1%
33% 8 Consol Aircraft 50g 18 15% 14% 15% + %
18% 4% Consol Cigar (.75e). 1 6% 6% 6% + %
49% 2C% Consol Edison <2)._ 68 22 £0% 22 +1%
108 92 Consol Edis pf (6).. 2 92% 92 92 -1
6% 1 Consol Film _ 2 1% 1% 1*4 — 14
17% 7 Consol 011 (.80)_ 24 9% 8% 9
10% 2% Consol RR Cuba pf. 3 6% 6% 5%
13V* 3 Consolidation Coal- 8 4% 4% 4% 4. %
87% 10% Container (1.20)- 8 14% 13% 13% + %
87% 7% Conti Baking A.._ 20 14% 13% 13%+%
6V* 1 Conti Baking B._10 2 1% 2 + %
69% 87% Conti Can (.50e)_ 7 39% 88% 89%+-%
110 106% Conti Can pf (4.60). 1 109% 109% 109% + %
25% 6% Conti Diamond__ 5 8 8 8
42% 23 Conti Ins (1.6ba)_ 8 28% 28 28
3% % Conti Motor ... 5 1% 1% X84
49 24 Conti Oil (Del .25e.. 41 28% 28% 28% + %
77 46% Corn Exchange (3).. 60s 60% 60% 60%+%
71% 60% Corn Prod (3)_ 6 69% 68% 69%
10% 3 Coty I.10g) 4 4% 4 4% + %
56% 20 Crane Co (Ig) 17 19% 19 19% - %
37 21 Cream ofWheat ,60e 1 22% 22% 22% — %
28% 6%Crosley Radio 1 9 9 9 — Vt
100% 28% Crown Cork t21 5 34% 34% 34% +2
47% 30% Crown Ck pf xw 2% 1 31 31 31 _ 1
26V4 8% Crown 7.eller t 25e) 6 10 9% 10 + H
- -21% 21 Crucible Steel 16 36 34% 35% + %
135 80 Crucible Stl pf(9g) 3 81 80 80 -2
17% 3 Cuba R R of 110* 9% 9% 9% — %
14% 2*4 Cuban-Am Sugar 1 4% 4% 4% + M
127 70 Cub-Am Sg pf (18g) 30* 70 70 70 — k
20% 4 Curtis Pub - 11 6% 6 6
8% 2 Curtiss-Wright 23 4% 4% 4%
28% 8% Curtiss-Wr (A).50g 11 15% 15% 15%
27 15% Cutler-Ham (.J6g).. 8 17% 17 17%
18% 6% Davega Stores(.75). 1C C 6 — V
24 12% Davega St pf (1%)- 1 15 16 15
27 18% Deere A Co . 60 19% 18% 19% + M
29 8 Delsel-Wem-G(Jf). 1 12% 12% 12% ♦ *
58% 18 Del AHudeon_4 14% 14 14% 4- I
8:30 p.m.
Prev. 1037-8 Stock and Sales— Met
Hieh. Low. Dividend Rate. Add 00. Hlfh. Low. Olose. ehge.
24% 6 Del Lack * W- 20 6% 6% 6% + %
10% 1% Den&RioGW pf(r). 1 2 2 2 + %
146% 88% Detroit Edison (2e). 2 94 94 94 - %
76% 29% Devoe&Ray A(8a). 1 29% 29% 29%-1
86% 18% Diamond Mtch ,60e. 1 26% 25% 25% + %
28 5% Diamond T Mot (1). 2 8 7% 7% + %
29 10 Dlst Corp-Seag .60*. 1 13% 13% 13%+ %
26 15 Dixie-Vortex (1.50) 1 16% 16% 16% + V*
46% 16% Doehler Die (2g)_ 1 20 20 20 -%
59% 36 Dome Mines (le)_ 13 60% 58% 60 +1%
77% 26% Douglas Aircraft— 30 39% 37% 38%+%
.180% 98 Du Pont de N «.25e 28 111% 109 111% +2
113% 107% Du Pont de N pf 4.60 1 113% 113% 113%
17 2% Eastern Roll 2 6% 6% 6% + V*
198 144 Eastman KodakHa) 8 169 157 159 +2
37% 15% Eaton Mfg (.25e)_ 6 18 17% 17%
16 2% Eitin-on Sch ... 2 3% 3% 3% + %
45% 14% Else Auto E (2.60g) 10 18% 17% 17%-%
16 3% Elec Boat (.60gt . 21 9% 8% 9 + %
7% 3% El & Mus lnd(.19g). 1 3% 3% 3%
26% 6% Elec Pow & Et _ 60 9% 8% 9% + %
87 24 Elec P & E 86 pf_ 1 28 28 28 +2
92% 27 EleoP&Epf _ 6 32 31 31 +1
44% 22 Elec Stor Bat 2%g.. 1 27% 27% 27%
29 14% El Paso Nat O <2a). 1 18 18 18 + %
116% 100 Endicott-Joh pf(5). 80s 104% 104% 104% -1
17% 3 Eng Public Service. 7 4% 4 4
81 45 ' EmPS pf ww 6%._ 1 47 47 47
86% 61 Eng Pub Svc pf (6). 1 60 60 60 -12
9% 1% Eauit Office Buldg.. 66 1% 1% 1% - %
23% 3 Erie R R _ 14 3% 3% 3% + %
36% 5% Erie 1st pf_ 4 6% 5% 5% - %
28% 3% Erie 2d pf. 3 4 3% 4 + %
71% 23% Fairbanks M (1)... 6 26% 26 26 + %
70 26 Fajardo Sugar (4g). 6 31 29% 31 +1
29% 7% Fed Lt & Trac (lg). 2 9% 9% 9% + %
11% 2 Federal Motor _ .1 3% 3% 3% + %
11% 2% Federal Screw _. 1 3% 3% 3% + %
6 1% Federal Wat Svc A.. 3 1% 1% 1% + %
45% 22% Fid Phoenix(1.60s). 3 29 29 29
41% 16% Firestone T&R ,50e. 2 21 20% 21 +%
46% 11% Flintkote (1) ... 10 15% 15% 15%+%
54% 11% Foster Wheeler . 7 16 15% 16 + %
83 40 Franklin Simon pf . 100s 38 38 38 -2
32% 18 Freeport Sulph <2). 14 25% 25 25%+ %
117 102 Freeport Sul pf (6). 10s 103% 103% 103%
48% 6% Fuller (GA) 2d of.. 40s 12% 12% 12% - %
15% 3 Cair (Robert)_ 5 4 3% 4 + %
33 10% Gamewell _ 10s 14% 14% 14% +1%
19% 4 Gar Wood Ind(%g). 1 5% 5% 5%
86% 81% Gen Am Tran 3.60g. 4 37% 37 37%
19% 5 Gen Baking ( 60a).. 1 7% 7% 7% - %
153 117 Gen Baking pf (8)._ 30s 118 118 118
i* 24 uen Bronze_ 2 4 4 4
324 64 Gen Cable _ 4 94 94 94 +4
65 144 Gen Cable A _ 1 184 184 W4 + 4
644 34 Gen Elec (2.20g)_ 123 394 384 394 + 4
444 284 Gen Foods (2)_ 8 32 314 314
34 4 Gen G & El A . 11 14 1 • 14+4
704 284 Gen Motors (3.75g)_ 186 334 324 334 +1
1224 111 Gen Motors pf (5).. 2 115 115 115
154 34 Gen Out Adv 6 54 54 54 + 4
604 214 Gen Out Ad A l.BOg. 1 26 26 26 -4
19 74 Gen Print Ink 90g.. fi 84 84 84 + 4
54 14 Gen Pub Svc . 1 14 14 14 + 4
654 17 Gen Ry Signal ,25e. 2 204 20 204 -4
54 1 Get. Ileal & Util .. 28 14 14 14
48", 14 Gen Rea) & Ut pf_ 3 15 15 15 - 4
70% 18 Gen Refract <2g) ... 7 214 214 214 + 4
88 134 Gen Stl Cast pf 30s 224 22 224 +14
334 94 Gen Thea Eq(1.25g) 1 11 11 11
434 16 Gen Time Inst (1) . 2 16 16 16
384 8 Gen T A- R (,50g)... 4 12 114 12 + 4
204 8 Gillette Saf R (1)... 5 94 94 94 + 4
294 64 Gimbel Bros _ 11 74 74 74 + 4
614 194 Glldden Co (2)_ 2 214 214 214
64 14 Gobel (Adolf) _ 3 24 24 24
604 124 Goodrich (B F) lg . 13 164 16 164 +4
874 46 Goodrich(BF)pf(6) 1 61 61 51 +2
474 164 Goody'r T&R 2.50g. 24 194 19 194+1
134 34 Gotham Silk H_ 2 34 34 34
44 14 Graham-Palge_ 28 14 14 14 — 4
15 8 Granby Consol_ 6 6 44 6 + 4
274 10 Grand Un pf(2.50g). 2 124 124 124
484 13 Granite C S 1.124g. 1 144 144 144
S3 194 GrantCW T) pf (1). 4 224 22 22
564 194 Great Northn pf 2g. 28 214 194 21 +1
284 10 Grt NorOrect .75e. 6 124 12 124
424 234 Great Wn Sue 2.40a 1 294 294 294 + 4
394 154 Green (HL) 1.60a . 7 164 16 16 - 4
164 74 Greyhound ( 80a) . 14 94 84 9 + V.
114 74 Greyhound pf ( 55). 2* 74 74 74
344 234 Hack Water! 1 50g). 1 25 25 25
204 44'Hallt WTi Printing 1 6 6 6 +4
31 174 Hamilton \V (.25e) 1 174 174 174 -14
105 9’ Hanna pf 15) 20» 92 92 92
584 18 llarh-Walker (2) 12 ;0>j 20 20’ . + 4
174 5 Hat Corp (B) .2»e . 2 6 54 54 - 4
1174 804 Hazel-Atlas Gl (5). 1 87 87 87 + 4
394 11 Hercules Mot (1 1 . 2 124 124 124 -4
64 50 Hercules Powd 75g 1 524 524 524
524 154 Holland Furn(.50e> 6 174 17 174 -4
434 154 Holly Sugar(2.25e). 3 19 19 19
654 394 Homestake Min 44. 36 634 624 634 +4
274 6 Houd-Her B (14)„ 4 94 94 94 +4
174 44 Houston Oil _ 23 7 64 64
904 37 Howe Sound (3a)_ 6 434 42 434 +14
54 14 Hudson & Man_ 12 2 2
234 4 Hudson Motor .26g_ 12 8 74* 74+4
44 14 Hupp Motor_ 1 14 14 14
38 8 Illinois Central_ 8 94 9 94 +4
674 16 Illinois Cent pf_ 4 17 16 17+1
72 29 111 Cent LL, (4)_ 50* 294 294 294 +4
224 54 Indian Ref (.15g)... 17 7 7
474 15 Xndust Rayon(.25e) 10 19 184 184 +4
144 72 Ingersoll-R'd 1.50e 3 77 75 75 -1
1314 584 Inland Steel (4) .. 4 644 644 644
33'. 64 Inspiration copper. 41 124 114 12 +4
134 14 Interb Rap Tr (r) . I 34 34 34 + 4
! 644 17 Interchemical Corp I 184 184 184 + 4
284 6 Interlake Iron Bag 3! 11 104 10‘* + 4
94 2 inti Ast Irul 1 3 3 3 + 4
189 1274 inti Bus Mach (Bn) 2 1464 1464 1464 +14
120 534 Inti Harvest (2 50) 1 1 61. 594 594 +4
16". 3 inti Hydro I'lee A 22 54 54 54 + V*
154 14 Inti Mer Marine _ 4 54 34 34
! 184 6 Inti Minins 1 9»k) . 10 114 10'. 'll + 4
734 37 inti Nickel (2a 1 128 484 47', 48 4+ 4
194 64 Inti Paper* Power 27 74 7 74 + 4
684 294 inti Pap* P pf (5) 19 314 30+ 31 +4
10 24 lull Ry Am (1.25k). 30. 5 44 44
574 34 Inti Ry C A pf (5g)- 90s 444 434 444 +24
284 194 Inti Salt (1.50a)_ 1 204 204 204 - 4
494 30 Inti Shoe (2) _ 1 34 34 34 -1
154 4 Inti Tel* Tel._ 27 6 54 6 + 4
84 64 Inti Tel & T for ct— 15 64 64 64 + 4
364 84 Interstate DS 2.76g. 3 104 10 104+4
30 204 Island Crk Coal (2). 1 23 23 23
874 464 Jewel Tea (4a)_ 2 474 474 474 +14
155 654 Johns-Manr (3a) ... 9 69 68 69 +1
136 644 Jones&Lau pf 5.25g 120a 70 68 70 +14
46 154 Kalam Stove(-25e). 1 164 164 164 -4
29 5 Kansas City Sou 3 74 74 74 +4
35 15 Kaufmann Dep .40s 1 164 164 164 — 4
274 13 Kayser(Julius).25e x 7 13 13 13+4
234 7 Kelsey-Hayes A 9 74 64 64 - 4
194 4 Kelsey-Hayes B 4 44 44 44
28% Kennecott (za> 8<> as% 34% 30% +1
20% 5% Keystone Steel & W 2 8 7% 8 + »*
46% 17% Kimb-Clark (la) . 1 20 2D 2<» - %
29'-. 15% Kresge (SS) .30e __ 8 17% 17 17 + %
24% 14 Kroger Groc 11.60) 4 16% 16% 16% + %
27% 6 Laclede Gas 80« 13 13 13 + %
'4 10% Lambert Co <%e) 1 11% 11% 11%+ %
27% 9% Lee Rub & Tire 25e l 12% 12% 12% - %
61% 14 Lehigh Port C(.25e) 10 15% 14% 14%-%
3% 14 Lehigh Valley Coal. I % % % — %
18% 2% Lehigh Val Coal pf. 1 4 4 4 + %
24% 4% Lehigh Valley R R.. 10 6% 5V* 6% + %
43% 221* Lehman Corp (1)... 7 24 23% 23%-%
21% 8 Lehn&Fink (1%).. 2 9% 9% 9% + %
79 31% Llb-Owns-Ford(4g) 5 34 33% 34 +1%
15% 5 Lib McN&L(1.40g). 2 7% 7% 7% - %
114 83% Llgg & Myers B(4a) 1 92 92 92
83% 18% Lima Loco (2.60g).. 2 25% 25 25% + %
63 33 Link Belt (2a) - 3 35% 34% 35% - %
26% 14 Liquid Carbon 1.60. 1 18 18 18 + %
87% 43% Loews. Ino (7.60g)_ 23 46% 45% 46% + %
3% 1 Loft Inc — 6 1% 1% 1%
75% 31% Lone Star Cem(3a). 4 32 32 32
10% 2% Long-Bell A ..2 3% 3% 3% + %
43% 17% Loose-Wiles (,30e). 2 18 18 18
28% 15% Lorillard (P) U 20) 2 17 16% 16%+%
28% 14% Loulsv G&E( A )1 % 2 16% 16% 16%+%
99 46 Louisv&Nash 2.50e 3 46 45% 46
41% 13% Ludlum Steel(.25e) 4 16% 16% 16%
86 26% Me And & F 12a) 1 31 31 31
21 11 McGraw Elec <1) 11 10% 10 10% - %
46 30% Mclntvre Pore (2) x 21 44% 44 44%+%
42% 18% McKeesport T <2) . 2 22 21% 21%+%
16V* 5% McKess* Rob id).. 6 6% *6% 6%
47% 28% McKess* R pf (3).. 1 32 32 32 +%
19 6 McLellan Strs ,40e. 3 7 6% 6% - %
62% 17% Mack Trucks (la).. 6 20% 20 20
68% 25 Macy (RH) Co (2).. 6 28% 28% 28%+%
63 18% Magma Cop (2.76g). 6 26 25 25 - %
16% 4% Man Ry mod gtd(r). 17 7 7
6% 1% Maracaibo Oil .... 3 2 2 2
14% 5% Marine Mid (JO)_ 8 6% 6 6% + %
3% % Market St Ry_ 20* 1% 1% 1% + %
39 6% Market St Ry pr pf_ 10a 8 8 8 +1
30% 7% Marshal Field_ 3 8% 8 8% + %
29% 10 Martin (Glen)_21 17% 16% 17% + %
13% 1% Martin-Parry-- 2 4 3% 3%
74 20 Masonite Corp (1).. 2 31 30 31
41% 22 Mathieson Aik 1.65* 4 23% 23% 23% + %
66V* 33% May Dept Store(3). 2 37% 37% 37%—%
15% 4% Maytag Co (.60*) ... 1 6 6 6 -%
34% 10 Mead Corp (1.60g).. 2 12% 12% 12%+%
86% 37% Melville Shoe (le).. 3 42 42 42
16% 3 Meneel .. 1 4% 4% 4% + %
72% 33% Mesta Machlne(le). 5 38% 37% 37%-%
26V* 4% Miami Copper 15g 9 8% 8% 8% + %
35% 14 Mld-Cont Pet l BOg 16 18% 17% 17%+%
48% 15 Midland Stl P <5g>. 9 22 21% 21%-%
120 46% Minn-Honey R (3) . I 49 49 49
124 98% Minn-Hon pf B(4) . 50s 105% 105% 105%
16% 4% Minn-Mol Imp . 4 6% 6 6
108 50 Minn-Mol pf 6.50g_. 1 50 60 50 -5
2% % Minn StPASSM(r).. 1 % % %
6% % M StP&SSM pf (r)_ - 1 % % %
34 14% Mission Corp 1.26*. 2 14% 14% 14% - %
9% 2 Mo-Kan-Texas_ 3 2% 2% 2%
34% 6% Mo-Kan-Tex pf 6 8% 8% . 8% + %
12% 1% Mo Pacific pf (r).... 1 2% 2% 2% — %
107% 71 Monsanto Cb (**)._ 2 78% 78% 78% +1
69 30 Montgom Ward .60s 44 32% 31% 82% +1%
46 21 Morrell Co- ... 1 80 30. 30 +1
*66% 31% Morris* Esx (8%). 90s 81 31 81 -.%
. 8% % Mother Ltd* (.46*). 33 H % % ..
2:30 p.ra.
Prev. 19.37-8 Stock and Sales— Net
Hlch. Low. Dividend Rate. Add 00. Hlch. Low. Close, ehce.
26 8* Motor Wheel (1.60). 6 12 11* 11*+*
64 16* Mueller Brass (la). 1 16* 16* 16*+*
16* 4* Mulllne Mfg (B)_ 6 6* 6* 6*
99* 60 Mulllne pf (7)_ 90s 60 60 60
90 60 Murphy (GC) 4a_ 2 50* 60* 50*+*
108*191 Murphy Co pf (6)_ 80s 104 104 104
20* 3 Murray Corp(.fEe). 6 6 6* 6
24* 6 Nash-Kelv (.12*).. 12 9* 9* 9* + *
47* 10 Nash Chat & St L._ 10* 12 12 12 + *
24 8 Nat Acme (lg). 6 11 10* 11 + *
18* 6* Natl Aviation 6 8* 8* 8* + *
S3* 17 Natl Biscuit .40* . 5 19* 19 19*+ *
103* 74 Natl Bd&l pr A (5). 2 80 77 80 +2*
38* 13 Natl Cash Beg .25*. 6 15* 15* 15*-*
26* 12 Natl Dairy P (1.20). 22 13* 13* 13*
112 104* Natl Dairy PpfB(7) 20e 106* 106 106
35 17 Natl Distill (2a)_ 9 20 19* 19*
18* 4* Natl Gypsum _ 27 6* 6* 6
44 18 Natl Lead i*)_ 8 24* 23* 24 +1
61* 16* Natl Mai * Stl (2).. 2 18 17* 18
14* 6 Natl Pw & Bt t .60)_ 7 6* 6* 6* + *
1 * Natl By Mex 2d pf.. 1 * * * + *
99* 61* Natl Steel (2.50a)_ 10 51* 51 61*-*
26* 16* Natl Supply (b)_ 6 17 16* 17 - *
30 20V* Natl Supply f2 pf_ 1 22* 22* 22*
12* 3 Natl Tea Co _ 1 4 4 4 - *
13* 6*Natomae (.80) _ 1 9* 9* 9* + *
41* 10* Newport Ind (2g)_ 21 16* 15* 15*+*
65* 15* NY Central _ 132 16* 16 16* +1
100 25* N Y Chi & St L pf—. 4 26* 26* 26* + *
31* 15 NYC Omnlbs 4.90g 11 23* 22* 23 -*
12* 2* N Y Dock_100s 4 4 4 + *
26* 6 NY Dock pf. 20» 8* 8* 8*
9* 2 N Y N H * H (r)_... 8 2* 2* 2*
26* 4* N Y N H & H pf (r). 6 4* 4* 4*
15* 3 NY Shipbldg ... 10 9* 9* 9*-*
76* 30 N Y Shipbldg pf . 10s 55 65 55
272 180 Norfolk & West 10a L 181* l8l*'181* -2*
114 102 Norfolk & W pf (4). 40s 105 105 105
17* 3 N Am A vlatn .12 *C 25 8* 8* 8* + *
34* 14* Nor Am Co (l.60g). 4« 18* 18 18*+ *
67* 48* North Am pf (3)_ 4 51* 51* 51*+ *
36* 9* Northern Pacific 25 11* 10* 11 + *
22* 9 Ohio Oil (lg)_ 18 12* 12* 12*+*
73 24 Oliver Farm .. _ 3 25* 25 25 + >«
26* 6* Omnibus (l.«0g) .. 2 10* 10* 10*
45* 20 Otis Elevator 1.40g. 1(1 21* 19* 21 + *
24* 6* Otis Steel ... 9 9* 9 9* + *
lOSVs 48* Owens-Ill G1,25e... 12 63 51* 52 + *
23 9% Pac Am Fish (1.20). 2 10 10 10 - %
40 7% Pac Coast 1st pf_ 30* 16 15% 16 + %
27% 4 Pac Coast 2d pf_ 40» 7% 7 7
38 22 Pac Gas & El (2)_ 21 25% 25% 25%-%
53% 34% Pac Lighting (3)__ 6 36 35% 36 +%
44% 10% Pacific Mills_ 1 13% 13V* 13%
152 110 Pac Tel & Tel (8)... 60s 116 116 116 +2
29% 11% Pao WestOil <.75g). 2 12% 12% 12%+%
12% 4 Packard Mot(.25g>. 25 4% 4% 4%
4% 1 Panhandle P&R (r). 1 1% 1% IV*
121 29 Panhandle pf (D... 10s 42% 42% 42% +1%
90 32% ParattineCo (4g)... 5 26 35% 35% - V*
28% 8% Paramount Plct_ 61 10% 9% 10 + V*
26% 8 Paramount 2 pf(.60) 4 10% 9% 9% — %
8% 1 Park Utah (.lag) . 6 2% 2% 2%
29% 12 Parker Rust (1.50). 1 18% 18% 18% +1%
7% IV* Panneiee Trans 1 1% 1% 1%
23% 8 Patino Mines (2g) — 3 10-t 10% 10% + %
7% 2% Peerless i.30g) __ 7 4% 4% 4%
.103% 57% Penney (J C) (4a) . 3 66% 66 66V* + 1%
12% 2% Pemi-Dixie Cement- 14 4 4
50% 19% Penn R R (1.2»gl .. 4i 21% 20% 21 + %
65% 22 Peoples GL&C (2g). 2 32 31% 32 s-1%
17 3 Peoria & Eastern .. 2 3% 3% 3% + %
21% 9% Petrol Corp (1.27g). 2 10% 10% 10%+ %
13% 3 Pfeiffer Brewi.SOg) 2 5% 5% 5% + %
69% 18% Phelps Dodge 1.60g. 22 24 22% 23% + %
7% 1% Phila Rap Tr (r) . 100s 2% 2% 2% + %
14 2V* Phila Rap Tr pf (r). 40s 4 4 4
3% % Phila Read C&l(r).. 9 % % %
95% 65 Philip Morris (J)__. 8 84% 83V* 84% +1%
64 30% Phillips Pet (2)_ 17 37 36% 36%+ %
33% 20% Pills Flour (1.60)_ 2 21% 21% 21%-%
56 36 Pirelli (1.68%«)_160s 46 45 46 +2
20 4% Pitts Screw (,65g)_. 12 7 6% 6%
43 8 Pitts Steel. _ 2 12% 12% 12%-%
122 32 Pius Steel pf.. 30s 37 37 37 -3%
45 30 Pitts Steel pr pf_ 30s 36 35 35 -2
47% 8% Pius & W Va _ 20s 12% 12 12% +1%
29% 13 Plymouth Oil 1.40a. 4 17 16% 17 + V*
11% 1% Porto Klc-Am T A . 4 2s* 2% 2% + 1*
15% 2% Postal T&C pf (r). 6 3% 3% 3% - %
31% 5% Press Stl t’ar 25g 4 8 7% 7% + %
31 .6% Press St C 1st pf .25 1 8 8 8 -1%
86 2o Puss StlC 2 pf 2% 1 24 24 24
65% 40% Procter & Gam (2). 7 48 47% 47%
52% 30 „ Pub Sxc N J (2 60).. 4 21 30% 31 + %
140% 117 Puli Serv NJ pf(7).. 2 121 110 119 -3
72% 25% Pullman (1.5ua)_ 7 30% 29% 30 ■+• ■%
24% 8% Pure (til t.25gi_ 51 11 10% ln% + %
107 85 Pure Oil pf 16)_ 1 96 96 96 -1
23% 6% Purity Bak (.60) ... 8 9% 9% 9% + %
18% 13V* Quaker St 011 1.10*. 2 15% 15% 15%-%
12V* 4% Radio Corp (.20g)._ 96 6% 6 6% + %
80 44 Radlocv pf (3%)_ 4 46% 45% 46 + %
115 61 Radio pf B (5)_ 1 60% 60V* 60% - %
10% 2% Kadlo-Keltb-O (r).. 22 4% 4 4% + %
26 17% Rayonler IncLGOe). 2 18 17% 18 + V*
47 18% Reading Co (2)_ 1 18% 18% 18%-%
49 29% Reading 1st pf (2).. 1 29 29 29 - %
22% 7% Reliable Stre (la)-. 1 8% 8% 8%
29% 8% Remington Rnd .25e 7 13% 13 13% + %
9% 1% Reo Motor- 4 2% 2% 2%
47% 12% Republic Steel_ 80 17% 17% 17%+%
49% 9 Revere Copper ft B. 33 12V, 12 12%+ %
98 24 Revere Copper (A). 7 24 24 24
30% 12% Reynolds Met (1) 2 16% 16 16%+%
67 51% Reynolds Tob 1.2he 230s 52 51% 51%-%
68 40 Reynolds T(B)1.20e 21 40% 40% 40%+ %
7% 4% Richfield Oil i.25gl 13 6% 6% 6% + %
20% 1, Roan Antelope Cop 5 17% 17% 17%
46 18 Safeway Strs <2ai . 8 20 19% 20
65 26% St Joseph Lead (2). 5 31% 30% 31% vl%
11% 1% St L-san Km pf tr) 1 2% 2% 2%
27% 11 Savase Arms 1 50g. 4 16 15% 15% %
51% 22 Sehctile> Distilli3). 8 22% 22 22% r %
98% 71 Schenley pf (5%)._ 2 bO 80 80 -1
3% % Schulte Ret (r) ._ 6 % % % + %
45% 34% Scott Paper 1.55g . 30» 41 41 41
2% % Seaboard Air L (r). 10 % % %
98% 49% Sears Roebuck(Sa). 19 57% 56% 57% + %
34 12% Servel Inc (1) . 10 14 13% 14 + %
42% 15 Sharon Steel (1.20). 2 16 15% 16 + %
14 3% Sharp & Dohme 11 4% 4% 4% — %
17% 8% Shattuck (Ft,) .60a. 4 7% 7% 7% - %
34% 14% Shell Union Oll(lg). 8 16% 15% 16%+%
105% 91 Shell Un pf (5%)— 1 100 100 100
17% 5% Silver King (.25e)— S 7% 7 7% + %
58 17% Simmons (2.25g)..__ 5 20 19% 19%+%
60% 26% Skelly Oil (1.50g)._. 10 26% 25% 26%+%
197 55 Sloss-Sheff (1.5Ug). 70s 60 60 60
54% 13 Smith (AO) _ 1 15% 15% 15%+ %
29% 9% Snider Pack l'-g — 1 11% 11% 11%
23% 13 Socony-Vac (,80g).. 49 14% 14% 14% + %
6% 1% Sou Am C.&P ,20g .. 2 2% 2% 2% + %
32% 17% Sou Cal Edis (l%a) 2 20% 20% 20% - V*
65% 16% Southern Pacific _. 58 17% 17% 17% + %
43% 9 Southern Rail wav.. 34 11% 10% 11% + %
60% 15 Southern Rwy pf_ 9 17% 17 17% -t- %
65% 27 So Ry M&Oct (4).. 1 24% 24% 24% -4%
1:30 p.m.
Prev. 1937-8 Stock and Sales— Met
High. Low. Dividend Rate. Add 00. High. Low. Close, chge.
9% 1% Spark* Withington. 1 2% 2% 2%
23% 10 8perry Corp 1.20g__. 70 19% 18% 18% + %
60 86% Spicer pf A (S)_ 70s 84% 84% 84% -1%
.28% 8% Spiegel, Inc (1)_ 8 9% 9% 9% + %
96% 49 Spiegel, Inc pf (4%) 120a 64 63 64 +2
48% 16 Square D (2a)_ 2 17% 17% 17%+%
16% 7% Stand Brands (.80) _ 20 8% 8% 8% - %
107% 101 Stan Branda pf 4.50. 1 106 106 106
12% 2% Stand Com Tob_ 1 3 3 3 + %
14% 2'% Stand Gas* El (r)_ 10 3% 3% 3% - %
32% 6 Stand G&K pf (r)._. 16 7% 7 7% + %
65 10 Std G&K $8 prpf(r) 2 14% 14% 14%-%
72% 14 Std G&K $7 pr pf(r) 5 18 17 17%+%
60 27% StandOil Calif (la) 13 30 29% 29%+%
60 26% StandOil Ind (la)_. 8 32% 32% 32% - %
76 42 Stand Oil X.I (la).. 38 47% 46 47 +%
75 63% Sterling Prod 3.80 . 1 56 66 56
21 5% Stewart-Warn 1 %a 19 9 9
17% 6% Stokeiy Bros 1.20g 1 8 8 8 - %
33% 6% Stone & Webster __ 15 8% 8% 8% + %
20 3 Studebaker 68 6% 6% 5% — %
22% 9 Sunshine Manag(3) 6 12% 12% 12%
61% 18 Superheater (.25e) . 4 25 24% 25
7% 1% Superior Oil . 10 2% 2% 2% + %
47% 8 Superior Steel_ 1 13% 13% 13%
89% 17% Sutherland Pap 1.60 6 19% 19 19
28% 16% Swift & Co < 1.20)_ 8 17% 17 17% + %
33% 22% Swift Inti (2) ... 4 24% 24 24 - %
23% 4% Symington ww.25e.. 6 8 7% 8 + %
17% 4% Symington xw .25e.( 6 6% 6 6% + %
66% 34% Tex Corp (2a) 36 38% 37% 38%+%
9% 2 Tex Gulf Prod .10g 5 3% 3% 3% + %
44 23% Tex Gulf Sulph(2a) 7 30% 30 30%-%
54% 15% Tex & Pac HR 2 18 18 18 - %
16% 5% Tex Pac C&O (.40).. 8 8% 8% 8% + %
15% 5% Tex Pac Kd Tr .20g. 15 9% 8% 9% + %
48 18% Thatcher Mfg (la). 1 20% 20% 20% -1%
13% 2% Thermoid . 1 3% 3% 3% + %
8% 1% Third Ave .. 12 2 2
28% 10 Thomp Prod l.TOg . 3 13 13 13 + %
10% 1% Thompson-Starrett 2 2% 2% 2% — %
40% 6% Thomp-sonStarr pf 1 12 12 12 +1
21% 13% Tidewater As( 1) 12 13% 13% 13%+ %
28% 8% Tlmken-flet l.adg 7 10% 10% 10% + %
79 36 Timken Roll B (3a). 7 42 41 41 - %
17 10 Transamerica .75 .. 19 10% 10% 10% + %
27% 5% Transue & Wi .60g . 1 7 7 7 -^ %
11% 3% Tri-Continent .25g . 11 3% 3% 3% + %
40% 18% 20th Cent-Fox 2.50g 2 22 22 22 + %
17% 2% Twin City Rap T . 1 4% 4% 4% + %
26% 7 Twin Coach ,85g. . 2 8% 8% 8% + %
100% 46% Cnderw-Ell-F 4.50g 2 49% 49% 49%
18% 8% Cn Bag&Pap .12%e. 10 10% 10% 10%+ %
111 61% lTn Carbide (,80e) _ 23 71% 69% 71V* +1%
28% 17% Un Oil of Cal (1.20). 4 19% 19% 19%+%
148% 73% Cn Pacific (1.50e) _ 8 78 74% 78 +4%
31% 22 Cn Tank Car (1.60). 2 22% 22% 22%
35% 10% Cnit Aircraft (lg).. 78 22% 21% 22V* + %
24% 5% Cnit Air Lines _ 10 7 6% 7
91 36% Cnit Carbon (4)_ 4 42 41 41 + %
8% 2 Cnit Corp'n (.20g)_. 61 2% 2% 2%
46% 25% Cnit Corp’n pf (3) _ 2 28% 27% 27% + %
16 5 Cnit Drug (,50g) ... 3 6% 6% 6% + %
26% 6% Cnit Dyewood (1) 11 7% 7 7 — a>4 \
106% 71 Cnit Dyewood pf(7) 10e 71 71 71
9% 2% Cnit Electric Coal .2 5 5 6
86% 62 Cnit Fruit (3a) 3 62 62 62 -1%
17 9 Cnit (las Imp (1) 26 in 9;, 9%
16% 3% Cnit Paperbd .30g . 1 4% 4% 41.
24% 5% C S & Foreign Sec . 4 6% 6% 6% + % !
137 53 C S Cypsum (2d) . 6 57% 57 57% - % j
172 154% C S (Jvpsiim pf (7). 30* 165 164 164
23% 5% C S Hoffman Mach. 2 7% 7% 7% + i4 '
43% 16% C S Indus Alcohol . 3 19% 19% 19% - %
15% 3% CS Leather ... 1 5% 5% 5% - %
22% 6% 1’S Leather (A) ... 8 8% 8 8
72% 24 C S Pipe&Fy (2).. 3 26% 26% 26%-%
19% 3% C S Realty & Imp .. 5 5 4% 4%
72% 20 C S Rubber _. 126 28% 27% 28% +1
118 43% C S Rubber 1st pf _ 21 57 54V* 67 +2%
105 62% C S Smelt & R (le). 3 66 65 65 +2%
126% 48% CS Steel 240 54% 62% 53% +1%
150 100% C S Steel pf (7)_ 8 107 106% 107 +1
136 114 C S Tobacco (5a)... 1 125 125 125 -1
9% 2% Cnit Stockyds (.50) 2 4% 4% 4% — %
8% 1 Cnit Stores (A) 2 2 2 2 + %
164 135 Cniv Leaf T pf (8) 10s 142 142 142 -2
4% % Ctil Pwr&Lt (r) . 9 1 % %_ %
2% % Vadsco Sales _ 3 % % *4 _ %
39% 9Vi Vanadium (lg) 13 17% 16% 17 + %
44% 14V* Van Raalte (3.50g) 1 19% 19% 19%
12% 2% Va-Caro Chemical 8 4% 4% 4% + %
74% 18% Va-Caro ch pf l.'.og 1 26 26 26 + %
115 105 Va Klec&Pwr pf(6) 60s 109 108% 108% -1
37 8 Va Ir CoalACok" pf 10* 11 11 11 +1
135 113 Virginian lly pf(6) 1 115% 115% 115% -2H
10% 1% Wabash (r) .42 1% 2
18% 2% Wabash pf A (r) .. 6 2% 2% 2% — %
33 18 Walgreen (2) . 119 19 19 — %
51% 32 Walker Hiram (4) .. 5 40% 40 40 — %
18% 3% Walworth Co (lg).. 12 7 6% 7 + %
10% 2 Ward Baking (R)._ 4 3 2% 3 + %
18 4% Warner Bros Piet.. 41 6% 5% 6% + %
12% 2% Warren Bros (r) ... 25 3 2% 3 — %
38V* 11% Waukesha Mot (1). 2 14 13% 13%+ %
50% 20 Wayne Pump (2) __ 2 26% 25V* 25%+ %
9?* 2% Webster Eisenlohr. 3 2% 2% 2%
66 23V* Wesson O & S ,625e. 3 29 29 2# — %
84% 73% Wessen O&S pf ( 4).. 2 74% 74% 74% + %
109 88 West Penn El pf(7). 20s 91 91 91
116% 110% West Penn P pf (6). 50s 113% 113% 113% + %
30% 14% West Auto Sup 1.60. 6 15% 15 15
11% 2% Western Md _ 14 4 4 4. %
4% 1 Western Pacific_ 1 1% 1% 1% + %
11% 1% Western Pac pf ... 3 2% 2% 2% + %
83% 22% Western Union Tel. 17 24% 24 24'*— %
57% 17% Westhse Air Br (1 >. 33 21% 21% 21% + %
167% 87% Westhse El&M (le) 45 93% 91% 93 +1%
30% 10% Weston El Inst lg . 1 13% 13% 13%
27% 10% AVestvaco Chi (1) 2 13 13 13'
125 90 AA'hee] & le pf (5g) C0» 85 81 85 -3%
i 65 19 Wheeling Steel 13 22% 21% 21% + %
S3% 6 White Motor .. 18 10% 10% 10% -t- %
I 12 4% Willis-Over pf .60 . 1 5% 5% 0%
! 12V* 4% AVilson & Co _ 14 4% 4% 4% — %
i 91% 49% AVilson&Copf (6) . 1 50% 50% 50% + %
19V* 10% AVoodward Iron . 4 14% 13% 14% + %
65% 34 AVoolworth (2.4(t) 21 39 38% 38% - %
47 12 Worthington Pump. 8 16 14% 16 +1%
62% 21 Yale & Towne ,60a . 2 20% 20% 20% — %
37% 7 Vi Yellow Truck ._ 180 13% 12% 12%+ %
142 68 Yellow Tuck pf(T)_. 70s 84 82 84 +4
46% 12% A’oung Sprg&AVire._ 2 15% 15% 15V* + %
101% 34% Ygstwn S&T 3.25g . 40 36% 35% 36% +1%
30% 14% Ygstwn Stl Dr 75g. 8 16% 15% 16% + %
43% 11% Zenith Radio - 13 13% 13% 13% + %
9V* 2% Zonite Products_ 13 3 3 _ y4
Approximate Sales of'Stocks on the N. Y. Stock Exchange.
11:00 A.M- 210.000 12:00 Noon__ 380 000
_ 1:00 P.M- 480.000 2:00 P.M_ 570.000
(Actual sale*: unit of trading 10 tharea.
. r In bankruptcy or receivership or being reorganized under
Bankruptcy Act. or securities assumed by such companies
Rates of dividends in the foregoing table are annual dis
bursements based on the last atiarterly or semi-annual declara
included"1*55 otherW!** n°te<* snecial or extra dividende are not
* dividend xr Ex rights a Also extra or extra* b 1-10
there of $2 preference stork, d 1-25 share of S3 preference
stock e Declared or paid so far this year f Payable in stock
*r declirld ufis ye« “h °r 6t0Ck “ AccumuI»t«‘‘ dividend paid
38 PER CENT RISE
IN FOOD EXPORTS
Huge Jump in November and De
cember Enable Year to
Show Increase.
The Commerce Department says
that food exports In November and
December, which were 150 per cent
greater than for the same months of
the previous year, enabled 1937 to
show a 38 per cent Increase over 1936
in food shipments to the rest of the
world. Grain shipments led in the
revival of this branch of export trade.
Exports of iron and steel products
continued at the high level of 306,647
tons worth $20,723,541 in December.
The volume was slightly higher than
in November and more than double
that of December, 1936.
The Census Bureau reports that
1937 production of tractors Increased
39 per cent to $227,120,681, compared
with 1936; combines increased 60 per
cent to $21,283,984, and grain thresh
ers declined 46 per cent to $3,857,128.
SHARE-THE-WORK PLAN
FOR JONES & LAUGHLIN
By tha Associated Press.
PITTSBURGH, Jan. 31.—The
Jones Ac Laughlln Steel Corp. today
announced a "share-the-work” plan
for all salaried employes, including
executives, by which they would take
“one-sixth time off, with correspond
ing salary reductions.”
The corporation said the new work
ing schedule became necessary be
cause of the “continued recession in
business.” It affects some 2,000 em
ployes in the company’s three plants
in and near Pittsburgh and becomes
operative tomorrow.
The announcement followed by a
few days a similar share-the-work
plan for “white collar” workers of the
, United Mates Steel Oorp.
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS
NEW YORK. Jan. 31.—The follow
ing ia a summary of corporation news
prepared by Standard Statistics Co.,
Inc., New York.
Curtis Publishing Co.—Declared tl
dividend on $7 preferred stock, pay
able April 1 to holders of record
February 28. 1938, on January 3,
1938, a similar amount was paid. After ■
this payment arrears will total $9.25 a
share.
Eaton Manufacturing Co.—Declared
25 cents common dividend, payable
February 15 to holders of record
February 7, 1938. On December 24,
1937, 25 cents special dividend was
paid and on November 15, 1937, 75
cents a share was distributed on com
mon stock.
Armour & Co., HI.—Company had
further inventory losses in first fiscal
quarter, chairman said “the outlook
for the current year will require us to
be conservative.” Stockholders ap
proved resolution granting directors
extended and broadened authority to
undertake $75,000,000 bond financing
for refunding purposes.
Bliss, E. W., Co—Earnings of
company for 1937 were estimated
around $1.70 a common share. In
1936 net equaled 99 cents a common
share. Current backlog of unfilled
orders of company is estimated in
excess of $5,500,000, sufficient to main
tain operations at a good rate for next
four or five months.
Grand Union Co.—Declared 50 cents
dividend on $3 preference stock, pay
able March 1 to holders of record
February 10, 1938. On December 1,
1937, a similar payment was made.
After this payment arrears will total
$4.12 H a share.
General Cable Corp.—Company cut
price of bare and magnet wire tt
[ cent a pound and weatherproof wire
% wot a pound.
NEW YOflK COTTON
By the Associated Press.
NEW YORK, Jan. 31.—Cotton ad
vanced today in sympathy with higher
foreign markets and the action of
stocks and wheat. A small scattered
demand was sufficient to Impart firm
ness on light selling.
May sold up from 8.42 to 8 49 and
in midaftemoon was selling at 8.47,
when prices were 6 to 9 points net
higher.
New Orleans Prices.
Orleans, jin. 31 </p>.—cotton
futures opened 2 to 4 points net higher
here today, due to moderate local and
foreign trade calling.
March contracts opened at SAP. May at
8.58. July at 8.63. October at 8.74 and
December 8.76.
- Cottonseed oil opened steady: March.
«.20b: May. 7.22b: July. 7.26b: Septem
ber. 7.30b; October. 7.34.
b—Bid.
--m --
DOLLAR GOES DOWN
IN LONDON DEALINGS
By the Associated Press.
LONDON, Jan. 31.—The United
States dollar, at 5.01 7/16 to the pound,
was off 84 of a cent in final trading
today. Sterling over the week end in
New York was $5.0084.
French francs closed 152.87 to the
pound, against 152.62 Saturday.
PARIS.—United States dollars
closed at 30.505 francs (3.273 cents to
the franc) In foreign exchange deal
ings today, compared with 3.275 cents
to the franc in New York over the
week end. Exchange on London,
152.85.
In the Bourse. 3 per cent rentes
ware 69.55; 41-is “A,” 72.60; 4(4s,
1937, 107.00.
OUTPUT OF BITUMINOUS
COAL DROPS FOR WEEK
Bituminous coal production declined
150,000 tons to 7,250,000 tons in the
week ended January 22, compared
with the previous week, the National
Goal Association estimates.
In the comparable week a year ago
production was 1,632,000 Iona.
Ticker Tape Barely Moves
at Times—Steals Lead
Leaders’ Climb.
Stock Averages
. 30 15 15 BO
lnrtust Rails Util. Stocks
Net change. +.6 4.5 4.1 4.4
Today, noon 60.8 18.2 31.1 42.5
Previous day 60.2 17.7 31.0 42.1
Month ago.. 60.6 18.8 32.4 42.9
Year ago. 98.6 39.2 52.2 72.0
1937-8 high.101.6 49.5 54.0 75.3
1937-8 low.. 57.7 17.6 31.0 41.7
1936 high_ 99.3 43.5 53.7 73.8
1936 low_ 73.4 30 2 43.4 55 7
1932 low_ 17.5 8.7 23.9 169
1929 high—146 9 153.9 184.3 157.7
1927 low_ 51.6 95.3 61.8 61.8
1 Compiled br the Associated Praia.)
By VICTOR EUBANK,
Associated Press Financial Writer.
NEW YORK, Jan. 31—A crawling
recovery today lifted stock market
leaders fractions to 2 points at the
best.
The ticker tape barely moved at
times. Extreme advances were re
duced in numerous cases near the
final hour. Transfers were at the
rate of about 800,000 shares.
Steels, aided by the announcement
of new' Navy orders for the metal,
pointed the way for selected rails,
coppers, motors, aircrafts and special
ties. A slight dip in this week's steel
mill operations had been forecast and
failed to disturb the list to any ap
preciable extent.
Some stimulus was derived from the
ability of secondary carrier bonds to
edge forward. Commodities also were
favored after a hesitant start.
Prominent on the advance were
U. S Steel, Bethlehem. Youngstown,
Crucible. Santa Fe. New York Central,
Great Northern. Pennsylvania, South
ern Pacific, Anaconda, Chrysler, Gen
eral Motors. Douglas Aircraft, Boe
ing, Consolidated Edison. Public Serv
ice of New Jersey. Westinghouse, Du
Pont. Allied Chemical, Montgomery
Ward. Continental Bakine "A," Allis
Chalmers. Eastman Kodak, Crown
Cork. Philip Morris and Standard Oil
of New Jersey.
Inclined to hang back were Amer
ican Telephone. Western Union, Deere
and National Steel.
Consolidated Edison was given a
push when the directors voted the reg
ular dividend. There had been talk in
financial circles that the disbursement
might be cut, in view of problems con
fronting the power and light com
panies.
Helpful also were declaration* of
regular payments to shareholders by
boards of other corporations. These
were in pleasing contrast to the many
omissions in the past week or so.
Brokers attributed the relatively
better action of the list partly to nib
bling by speculative forces on the
theory iast week's washout entitled
the market to retrieve at least a por
tion of its heavy losses.
The campaign for legislation to
speed reorganization of distressed
railroads took on more concrete form
and. combined with the belief gen
erally freight rate Increases will be
granted, a friendlier attitude was ex
hibited toward the carriers. It was
realized many of these had touched
new bottoms since 1833.
Coppers were sustained by expecta
tions consumption will pick up with
the domestic price holding at 10 cents
a pound. Rearmament plans were on
j the side of aviations.
CHICAGO GRAIN
By the Associated Press.
CHICAGO. Jan. 31.—Wheat price
i advances or more than a cent a
i bushel at times based on cold
I weather, lack of snow protection and
failure of expected precipitation to
I materialize in Southwest drought dis
tricts were only partially maintained
In the grain market today.
The deferred contracts led the up
turn. with both July and September
wheat advancing more than a cent
to 8834 for the former and 88v; for
the latter. May wheat touched an
early high of 93'2. At noon, how
ever. May had fallen to around 93,
with July at 88 and September at
87V
The dull export demand for North
American wheat and small outside
interest in the market were believed
partly responsible for setbacks from
the day's highs. A report from St.
Louis was that 750.000 bushels of No.
2 red wheat had been sold for export
and that additional business was being
negotiated.
Baltimore Prices.
BALTIMORE Jan. 31 ..*»•Wheat. So.
•? rpd winter, garlicky, spot, domestic.
January,
-0.. .. . -
Mill Cuts Wages.
FALL RIVER. Mass., Jan. 31 OP) —
The Fall River Cotton Manufacturers'
Association last night announced a
1214 per cent w-age cut for mill work
ers. effective tomorrow.
Officials estimated about 8,000 were
employed.
- ■ . ■ m ■■
Copper Trade Reported.
The Commerce Department reports
that while exports of copper last year
Increased 85 per cent to $41,246,264,
Imports of the metal were $52,554,104,
an increase of 75 per cent over 1936.
federal
HOUSING INSU RED
LOANS QUICKLY
SECURED
Eliminate needless red
tape here, where your
application will receive
prompt and courteous
attention.
Payments of $9.50 per
$1,000 (approximately)
include interest, reduc
tion of principal, taxfes
insurance and water rent.
MorfraK* Loan Correspondents
$ %
^ _ wmu iifi
'OSTAJ. *
Investors Syndicate

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About Evening star. [volume] (Washington, D.C.) 1854-1972