Evening star. [volume] (Washington, D.C.) 1854-1972, February 10, 1938, Image 19

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Evening star. [volume], February 10, 1938, Page A-19, Image 19
About Evening star. [volume] (Washington, D.C.) 1854-1972

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Evening star. [volume] (Washington, D.C.), 10 Feb. 1938. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83045462/1938-02-10/ed-1/seq-19/>

Newspaper Page Text

CURB RALLY LED
BE INDUSTRIALS
I _
Aluminum, Ltd., Advances
Nearly Eight Points—Brill
Preferred Up.
By the Associated Press.
„ NEW YORK. Feb. 10—Moderately
active bidding brought some sharp
gains in industrial shares in today’s
curb market.
Leaders of the move included
Aluminum. Ltd., up nearly 8 points,
and Brill preferred, up about 4si.
Other issues higher by 1 to around 3
points at the start of the fifth hour
were Pcpperell. Jones & Laughlin
Steel; American Meter, Babcock &
, Wilcox. Aluminum Co. Newmont and
Sherwin Williams.
Oils and utilities improved nar
rowly.
CURB BONDS
DOMESTIC.
Hich. Low. Noon.
Ala Power 4’2^ !»>7 <>* *>*
A‘a Power 5s '•»$ T.’l T.'l '.d
4 Alum Co Ltd 5s »S 104 lo4 104
Am O A E as 5M5S _ 100% Kin's Jim's
Am P A L iis 50 Hi <«• MS' ' ".
Appalach E P 5s '50_1 o I % 10'% HI4 %
Appal P Ms 5054 A .. „ IMS's HIS1. IMS’.
Ark P & L 5s '51; HI ill Ml
As El inrt 4'ss 55_ :ir :I7 3.
As G A E 412s MO .. 55% •’•>% 55%
.As O A E 5s 'MS .. 5K% 5s% 5S!'»
Atlantic City FI 3 %s - . M4 Ml Ml.
Bald Loco Ms '5(t Ml', till % li. a
Can No Pw 5s *5:t A 103% 103%
Caro Pw A Lt 5 '5M .. s:t S3 S3
Cent 11 P S as'5M E t'l’« Ml1. Ml'.
Cen I1PS 4%s Ml F ss SS SS
Cen I1PS 5s 'MS O MM % MM' 2 MM 2
Cent Oh L A P 5s '50 Ml Ml 04
Cent Pw A Lt 5s 5M _ si;', sm'4 SMs,
Cent St El 5s MS 35 35 35
Cen St P A L 5%s ’53 45 45 45
Chi Dts El 4%s'10 A HIM HIM
Cities Svc 5s '50 53% 53% 53%
Cities Svc 5s '58 . -- 5.3 % 53 3 5.3%
Cities Svc 5s MM MM MM
Cities S Gas 5%s '45 MM1. MM1. HM’.
Cit S P A L 5%s 55 48% 4 8% 4S%
Cit S P A L 51 MM 4M -Hi 4M
» Commun'ty P A L 5s '57 MM1. M3 % M3%
Cont G A E 5s '58 A ms ill a. 117%
Cudahy Prk 3' - 'M5 M3% M35, M35,
Det Cit Gas 5, '5n B 105% 105% 10'.’%
Edis El Ii:u , .3%s 05 HU % l(i7% 107%
El Pw A Lt 5s 50.00 M3 M3 M3
El Pas Ei 5s '.Vi A lnO% 105% 105%
Erie Light 5s'Ml 10:1% ln.3% 103%
Fed Wat 5%' '51 . M4 05
Firest Tire 5s '45 104% H'1% lo43.
Gatineau P". 5s '5M 103% 10.3% 103%
Oen Pub U' m%s 50 mi', mm', on',.
Georgia Pow 5s ’Ml 81 81 81
Glen Alden C. 4s ’85 M4 % M4% 1.4 %
Guard Ini’ as MS A .34 34 34
Heller iWEi 4s M6 ww 81% 84% 84'a
Hou Gulf G Ms M3 A 105 Hi'.’ In5
111 Pw A Lt 5% '57 74% 14% 74%
.111 Pwr A L Ms '5.0 A MM12 1*5% MM' 2
111 Pw A L 5%, '54 B H(>% MO !l(l%
111 Pw A L os '50 C . 87 8M% 87
Indiana Ser as '5i> 55% 55 % 55%
Indiana Ser as '03 A 55 55 55
Indnap P A L 5s '57 A lna% 105% 105%
Interst Pw as '57 4(1% 4n% 4u%
* Interst P S as '5M D M7 M7 M7
Jackson G 5s '45 stp 34 33 .34
Jer C P A- L 4%s 'Ml c loo'.. lnu% 1011%
Ken U 6%s MS»D 01% Ml% <111 a
L S Dist P 3%s *MM A 05% M5% M5%
Lehigh P S Ms 5050 A MS Ms MS
Libby McN A L as 45 103 103 ln3
Long Is Lt is '45 07 M7 Ml
La Pw A Lt 5s '57 . 105% 105% 105%
Midlan V R K 5s 43 Mil MO Mu
Mo Pub S'. 5s 47 1151 a 05' . MS'2
New E G A E 5s '47 51 50% 50%
New E G A E 5s '50. 50 50 50
New E Pw 5s Ms 7M 7 3 7M
New E Pw 5%s '54 . . Si so1. 81
New Or P S Ms MM A 04 H4 H4
Nor A LAP 5%s '50 77 77 77
Nor State Power 3%s its1, ms3. hs%
Okla Nat Gas 5s MM ss ss SS
Pac Invest 5s 48 A 85 S4 84
Pac P L 5b .>.» fi.'Pg
, Peop GLAC Is M B 84% 84 S4
Peon GLAC 4s D SS1. 8N% 8h3.
Phila El PS' is '75 115% 115% 115%
Portland GAC os Mo 5M% 50% 50%
Prot.ero Sug 7s M7 st M5 M" M"
Pub S No 111 as 'MM C 1(15% 105% Ida'.
Puft S PAL 4 %s '50 D 58 58 5S
San A11 PAS 5s '58 B 103% 103s, 103%
ScriDPS 5%s 43 101% 101% 10)'.
Shw WAP 4%s or A 103s, 103*, 103s,
S E PcS'L Ms 505a A 83'- N3% N3%
Sou Cal Ed 3%s '00 105% 105 105%
Sou Cal E 33,s MO B 105 105 105
8 Coil G of Cal 4 %s MS 104% 104% 104',
Std GAE cv Ms'35 cod 41% 44% 44%
Siarret Corp 5s '50 55% ’’5% ”5% 1
Texas Elec as Mil SS 87 87%
Twin C RT 5'.as '55 A 57 5M’, 67
Ulen A Co Ms '50 IV si 43 43 43
Unit Lt A Pw Ms '75 01 Ml Ml
Unit Lt & Pw M1 as '74 M5 M5 05
Unit LARD 5%s '55 M.5% M5% U5% i
• Unit L A R M Ms '55 A loo Inn 100 i
Wash WAP as 'Mil Ida Ida 105 '
'Vest T Ut 5s '57 A S3 s"% 8"% 1
We U G A E 5%-s '55 A 104% K'4% 104%
Wis P A L 4s MM 04% 04 04
FOREIGN.
Danish Con 5'js '55 imh huh lop, !
Santiao Chil 7s "u i:ii4 i n14 ]■>'.
fitinn 'Hi 4s '4(1 2d st 45 45 45
wav With warrants, xw Without war
raws. n New. s' <s'P> Stamped
SNesrotiabihty impe red ,bv maturity.
TCompanies reported in receivership.
--•
’ Washington Exchange
SALES.
Capital Transit Co.—8 at 9.
AFTER CALL.
Potomac Electric Power 5ure pfd.—
6 at 112’i, 4 at 113.
Bid and Asked Prices.
BONDS.
PUBLIC UTILOT.
Bid. Asked.
Anacostia & Pot. 5s _ 57 62
Ana. <fc Pot. Guar. Bs_ 107
C. A P Tel. of Va 5s 105
Cap. Traction R. R. 5s 60 75
City A- Suburban 5s _ tit 60
Georgetown Gas 1st 6s.113
Pot Elec. Pow. :i>4s HUH* lost.
Wash. Gas 5s 1058 105 106
Wash. Gas 5s 1060 _ 115
Wash. Rwy. A Elec. 4s loti
MISCELLANEOUS.
Chevy Chase Club 1st 4Us lO.'tt'j
Col. Country Club 1st 4>,4s 103 Hi;
W. M. Cold Storage 5s 100
STOCKS.
PUBLIC UTILITY.
Amer. Tel A Tel. (0) 13:’,’*
Capital Transit Co. ._ h'2 “pi2
N. & W. Steamboat (5) 55 85
Pot. Elec. Pow. tirr pf. (R) Ha
• Pot, El. P Anfe Pfd. (5.50) 11 Hi
Wash. Gas Lt. new (1.20) _ 22
Wash. Gas pfd (4.50) !iss4
Wash. Ry. Sc El. com. (36)g R0()
Wash. Rv. A El. pfd. (5) llo IIII
BANK AND TRUST COMPANY.
Amer. Sec. A Tr. Co. (eR) 24(1 250
Bank of Bethesda (h.75)_ :(Hi
Capital (4i . _ 115 145 ~
Com. Sc Savings (elO)_230
Libert? (5> _ 150 175 '
Lincoln (f5) no 240
Natl. Sav. A Tr. ._ 22k 250
Pr. Georges Bk. A Tr. (.50) 20 2H
Rigss (cR) . 285 205
Riggs pfd (b5' lol
Washington (6> 130
Wash. Loan Sc Tr (eS>._ , 240 255
, FIRE INSURANCE.
American (B) 115
Firemen's (1.20) 28
National Union (.75) _ 13',i _
TITLE INSURANCE.
Columbia (k.30) _ .. ll 13
Real Estate (mfi),_ _ 150 __
MISCELLANEOUS.
Carpel Corp (+2.00) _ 21 23&
Lanston Monotype ( + 4) . 6BV4 8o
Lincoln Serv. com. (hl.OO). 17 21
Lincoln Serv. pfd. (3.50) ._ _ 50
Mergenthaler Lino. (2.00) 21 23
Peoples Dr. St. com. (tl.Oii) 27 33
Peoples Drug S. Pfd. (8.50) 112 114
Real Est. M.&G. pfd. (**.30) 4Y* RV*
Security Storage (S) - - 10.3 125
, Ter. Ref. & Wh. Corp. (3) . 64 80
Wdwd. & Loth com. ( + 1.60) 50 58
Wdwd A Loth ofd. (7) — 117
•Ex dividend.
b—Books closed.
tPlua extra*, e t% extra f 2’4ft extra.
« *14 extra paid No. 30. 1837 h 75 cents
extra, k 30 cent* extra, m $3 extra. **30
cants extra paid June 24. 1937.
CHICAGO LIVE STOCK.
CHICAGO. Feb. 10 m (United States
Department of Agriculture).—Hogs. 12.
(100. Including 1.000 direct; the market
was fairly active; light hogs were fully
steady with Wednesday's average: weights
upward from 210 pounds unevenly 5 to 15
„ higher: top. 8.00; bulk strictly good and
’ choice. 150-220 oounds. 8.65-85; 230-280
pounds. 8.25-65: 2(10-350 pounds. 7.85
8.20: packing sows 5 to 10 higher: good
medium and heavy weight. 7.10-35; butch
er kinds. 7.50.
Cattle. 6.51)0; calves. 1.200: fed steers
and yearlings weak to 25 lower: slow;
largely steer run: shippers and order buy
ers bought a few loads early at 7.50-8.50,
paying up to 10.50 for strictly choice
weighty bullocks and taking 1 600-pound
averages at 8.35; otherwise little done;
heifers steady to weak; light kinds steady:
best light heifers. 8.00. Cows scarce.
, steady: bulls 10 to 15 higher: weighty
sausage offerings up to 6.76; vealers 60
higher at 11.50 down.
Sheep. 11.000; none direct: fat lambs
fairly active; strong to 10 or more higher;
good to choice offerings to packers. ,.25
60: few loads choice to small killers and
shipper*. 7.65; bulk held higher: sheep
rather scarce; undertone stronser: load
medium to good 59-pound feeding Iambi
at about steady at 6.25.
NEW YORK CURB MARKET
(By private wire direct to The Star.)
Stock and Skies—
Dividend Rate. Add 00. Hlsh Low ClOM.
Acme W vtc .50e. 25s 34 34 34
Ala Pow pf (7) ... 20s 634 684 634
Alliancs Invest_ 1 14 14 14
Alum Co Am_lOOda 78 754 764
Alum Ltd - 1200s 85 754 834
Alum Ltd pf (6) . 100s 944 944 944
Am Roi Bd 1.56g 1 84 84 84
Am Centrifugal . 8 24 24 24
Am Cyn B (.60) . 10 25 244 244
Am GasAEI 1.40a 12 234 224 23
Am O & E pf (6) 375* 1104 110 110
Am Gen ... 1 44 44 44
Am Gen pf (2)... 60* 24 4 24 4 244
Am Maracaibo 4 (j| (J U
Am Meter (4g)... 1 244 244 244
Am Repub(.40g). 7 84 8 8
Am Sup Power... 1 4 4 4
Am Sun Pw pf .. 1 144 144 144
Apex Elec (.60*). 2 10 10 10
Arctur Kad Tube. 14 4 4
Ark Nat Gas ... 3 34 34 34
Ark Nat Gas A... 11 34 34 34
AsGAElA . 21 1 1
Atl Coast L (3e) 80s 264 25 25
Atlas Plyw'd .25a 1 11 11 11
Automat Prod 2 1H 14 14
Avery pf ww 1.50 60s 21 20 21
BabcockAWU 6* 360a 87 854 864
Baldwin Lo war 4 44 44 44
Bald Loco pf 2.10 1 164 164 154
Baldwin Rub .50. 4 84 8 84
Barium Stain Stl 3 24 24 24
Bath I WtSBfcfl 3 74 74 74
Bell T Pa pf(84> 30* 1194 1184 1184
RerkAO f war 2 4 4 4
Bliss (EW) 12 84 74 74
Blue Ridge (,15g) 1 14 14 14
Rlumenthsl (S> 1 74 74 74
Brewster Aer 05c 2 44 44 44
Brldeen't M 12c) 1 94 94 94
Bright Star El B 2 (V ft fl,
Brill A ... 1 34 34 34
Brill pf _1,50a 23 21 23
Brown Co pf 100* 264 25 264
Brown Rub( 60a) 6 34 34 34
BNAEP 1 nf (5) 50* 98 98 98
Bunker Hill AS . 17 124 12 12
Burry Bis ( 25c). 1 24 24 24
CabElPrvtc_ 2 S % %
Can Marc Wire... 10 IS IS IS
Carnegie Met_ 1 It* IS IS
Carrier Corp_ 7 26S 2fi'« 26'/«
Catalln Am . ... 4 3V4 3S 3S
CenNYPwrpfS 20* 85V4 85'4 85S
Cen St El 1 ft, A ft,
Cen St El 6% pf.. 50* 5S 5S 5S
Childs pf _ 225* 29S 29S 29S
Cities Service_ 26 IS IS IS
Clt Serv pf _ 2 30 30 30
Clt Svc P *7 pf... 25s 30S 30S 30S
Claude Neon i.t . 6 2 2 2
Clev El Ilium 2a. 50* 31 31 31
Cleve Tract ... 1 IS, 4S 4S
Club Al Cten _ 1 IS IS IS
Colon Develop _ 1 2S 2S 2S
Colts Tat F A 4g. 1 58 58 58
Col 04 G (.4(10 4 4 3S 4
Comwlth&Sowr 30 S S S
Com Pb Sv(.50e) 150s 20S 20 20S I
Com Wat Svc 1 S s* S
Cons Cod.M 12g 11 SS 5 5
Con G&E R<3 60) 6 62S 62 62
Cons Steel Corp3 4S 4S 4S
Cont Roll & Stl_ 1 6S 6'i 6'.
Cooper-Res* __ 2 8S 8 8'«
Copper Ranee 1 5*« 5*» 5*»
Copperweld (2) __ 1 20S 20S 20S
Coro Cor i .. 4 l«j, IS IS
Cosden Pet pf _ 1 10 10 10
Creole Pete, 50a) 31 23 S 22S 23V4
Crocker Wh ,10g. 1 6*. 6S 6%
Croft Brewing _ 2 -ft, S S
Crown Drug ... 2 IS IS IS
Cnst Met 12 * * *
Darby Pet (.2ae) - 1 7'i 74 74
Det Mtrh Stove - 2 24 24 24 1
Det Pap Pd <4).. 13 3 3
Det Stl Prod(2c). 5 204 204 204
Dobeckmun 1 40 2 114 ID, 114
Duro Test (.40).. 1 54 54 54
Duval Tex . 4 9 84 84
Eagle Plcher ,40g 6 11 104 11
EG&Fpr pf(4^l 150s 494 49 49
Estn States pf A 25s 214 214 214
East States B pf 75« 20 20 20
El Bond ft Sh 23 74 74 74
El B&S *5 pf (5). 1 43 43 43
El B*S pf (6) .. 7 48 47 48
El Pwr Asso 37g. 1 24 24 24
El P ft L war 1 34 34 34
Elect rol vtc 8 14 14 14
Emp G&F 7<r„ pf 100s 32 32 32 I
EmscoD&EqU). 1 104 104 104
Equity Corp _ 2 ", 4 4
Europ El deb rt._ 15 ft ft ft
Evans Wallo .. 34 4 4 4
Ex-Cell-O (.80a). 3 12 114 114
Fairchild Av .. 1 34 34 34
Ferro En(2.50g). 3 214 21 21
Fldello Brew _ 7 4 ft 4
Fisk Rubber . 1 64 64 64
Fd M Lrdi 2131) 3 54 54 5',
Franklin Ray 50g 1 4 4 4
Gen Alloys 12 2 2
Gen Flrepr 1.60g. 4 124 124 124
Gen Invest . 14 4 4
Gen Invest war .10 ft ft ft
Gen Tele i la i 1 114 ID, 114
Georg Pow pf<6) 125s 65'* 654 654 1
Glen Alden 50g . 2 54 54 54
Grand Nat Films 1 41 H W
Gray Tel PS (1) 1 54 54 54
Great A&Pnvle 100s 474 47 47
Green T & D .. 2 54 54 54
Gulf 011(1) ... 13 39', 384 394
Hartf Rayon vtc- 1 14 14 14
Hazelttne(3) 1 154 154 154
Hearn Dep Stores 1 64 64 64
Hecla Mining .10* 4 84 84 84
Helena Rub (If). I 34 34 34
Holllnger (65a) 8 134 134 134
Hudson Bay 1.75g 5 244 244 244
Humble Oil (2g). 2 624 62 624
Hygrade Food l 14 1T, 14
Hygrade Syv .75e 100a 254 254 254
Imp nil Can 50a 1 18'* 18‘i 18ty
Imp T Can .62 Vj g 4 14'* 14)4 14'.
IniCN Amlin 250* 67)4 56)4 57)4
Int Hvd-Elec pf . 1 12'4 12)4 12)4
Inti PaAPw war- • 1 2)4 2'fc 2)4
Inti Pet UA4a> — 6 30 29T4 29).
Inti Prod _ 2 3)4 3)4 37»
Inti Rad ( Sag) ... 4 7)« 7'. 7U
Inti rtll B - 5 V. 4* *-4
Inti Utilities pf .. 19 9 9
lntl Vltam i 50) 1 3*4 3% 3*4
Iron Fir vtc 1.20a 50* 14)4 14)4 14V*
Irving Air Chu la 3 1U4 10*4 10',a
Jacob* Co (2c) 9 6*4 6'« fi'i
JerC PAL pf(7)_ 20r 81 v. 81). 81)4
Jone* A Lau Stl . 5 34)4 337i 33)4
Kingston Pr(.40) 22 2*4 2*. 274
Klrbv Pet . 2 4)4 4 4)4
Knott Corp (.40). 3 7 7 7
Kress(SH)pf .60- 1 12!i 12H 12V4
Lake Sh M (4a) . 10 5674 66)4 66H
Lakey FAM 15g. 1 2** 2% 2H
Lefcourt Real pf_ 3 13 13 13
Lehigh CANi 30) 5 5 4% 4*4
Lion Oil (la) 7 20*4 2(04 20*4
Lockheed Alrc .. 16 8*4 8)4 8)4
Lone Star Q 60g 18 8 8
Long IslLpf 3.50 20s 87)4 37)4 37)4
McWilms Dredg. 3 11 10'4 11
Mem Nat G 6fte .14 4 4
MetTpt pf(3V*a)- 10s 29)4 29)4 29'4
MichG&O - 2 4»* 4*4 4*.
Mid St Pet A vtc- 7 2)4 2)4 2)4
Midland Stl (2)-_ 1 13>4 13)4 13)4
Midwest Abr ... 2 1*4 B» 1*4
Midwest 011(1).. 1 7)4 7)4 7)4
Mock Jud Vo lg.. 1 7'4 7)* 7)4
Mngrm Pictures. 14 27. 2 2(4
Moor# (T) Dlst . 1 1)4 1'4 1)4
Moun Clt C 25g . 4 6*4 6)4 6)4
Natl Auto F ,25g. 1 5% 5% 5%
Nat Bellas Hess.. 2 '•« # %
Natl Contaln(l).. 1 8% 8% 8%
Nat Fuel 0(1) .. 3 13% 13% 13%
Nat PA Lt 60a 48 48 48
NatSug Ref (2).. 1 17 17 17
Nat Tunnel * M-. 3 2% 2% 2%
Nat Un Rad 1 % % %
Newmont Min 8a 4 68% 57 67
NY & HR 4.42 %g 50s 29 29 29
NY Merchan .80.. 1 9 9 9
NY Wat Ser of .. 10a 15% 15% 16%
Nlag Hudson 40g 5 7% 7% 7%
Nlag Hud 1 pf(6) 150a 72 71% 71%
Nlag SMd B «0g. 2 5% 5% 5%
Nlles-B-Pond(2). 1 34 34 34
Ntnlsslnc (,37g) 2 2 2 2
Noma Elec (,40e) 1 3% 3% 3%
Nor Am Ll&Pw.. 2 1% 1% 1%
Nor St P A 1 10 10 10
Ohio Br Bass (3) 75s 31% 31% 81%
Oldetyme Dtst 2 2% 2% 2%
Pac G&E 1st 1.50. 1 29% 29% 29%
Tac Pub Service 3 6 5 5
Pan-Am Air 25a. 1 15% 15% 15%
PanlenecOI! 44 6% 6% 6%
Parkbg R&R 1.60 12 15% 15% 15%
Pcii/iroad • 25gt 16 2% 2% 2%
Pepperell Mfg Co 75s 70% 68 70%
PharisT&R 60 1 3% 3% 3%
Phila El P pf (2) 25s 31% 31% 31%
Phoenix See ,25g. 4 3 2% 2%
Pierce Gov (60). 4 14% 14 14%
Pioneer Gld(.40). 7 2% 2% 2%
Pttney-Bow .10e. 2 5% 6% 5%
Pitts Forg ..18 8 8
Pitts P) G1 «.60g . 1 80% 80% 80%
Premier Gold .12. 1 2% 2% 2%
Pressed Met (2).. 2 16 - 16 16
Prosper(B) 1.50g 2 6% 6% 6%
Prudlnvpl (•).. 100s 91% 91% 91%
Stock and Salta—
Dividend Rate. Add oo. Blah Low Cion.
P S Ind $6 pf 60a 13V* 18 13
PubSP *5pf 6.25b 50a 28*4 28*4 28*4
Pus Sd P 26 pf 100s 13*4 13V* 13V*
RwyALt Seo .60b 26a 9V4 9V4 9V4
Raymond Can (1) 260a 14 IS 14
Red Bank OH . 7 4V4 4 4V4
Reed Ro Bit 80a.. 1 23** 23*4 23S
Reynolds Iny_ 4 111
Richmond Rad .. 2 2 2 2
Rio Gr V G vtc .IS*,*,
Roch GAR pf D 6 150s 96*4 96*4 95*4
Roosevelt Field . I IV* IV* IV*
Root Tet pf 1.20.. 1 8*4 8*4 8*4
Ryersnn A H ... 1 IV* IV* 11*
Saf CHALt 10b— 60s 77 77 77
St Reels Psp ... S 3V* 8 8
Seen I Lock . 11 IV* 1 1
Selfridge (.094e)_ 4 1** 1** 1**
Seversky Alrc 1 11* 11* 11*
Shat Dem M 25b 2 81* 8 81*
Sherwln-Will (4) 800a 88v* 871* 88
Silex Mfg (,25e). 1 61* 61* 614
Simmons HAP - 2 2>* 2 21*
Stmpllc Pat 50b.. 8 41* 4 4
SinBer Ltd .286r~ 4 61* 6V* 6V*
Solar Mf* <.20g>. I 2V* 2V* 21*
Sonotone (.26b)— 2 1H 1** 1**
Sou Un Gas ... 2 2*i 2** 2**
Spencer Sh 1.20b. 1 4** 4** 4*4
Std CAScvpf 1.60. 2 191* 19V* 19V*
8t OH Ky (la) .. 1 17** 17** 17**
Stand O Neb .25b. 17 7 7
Stand 011(0) la— 2 20 20 20
RtPowALt — 2 IV* IV*. IV*
Stand Product!— 1 61* 67* 61*
Stand SHverALd. 4 V* V* V4
Starreit Cor vte.. 10 4V* 4>* 41*
Stlnnes (H) .. 3 1** It* it*
Sunrav Oil< 25b). 4 3 3 3
Sullivan Mach — 1 81* 8v* 814
Technicolor 75e 15 I8V4 18 18
Tecli-H«hs(.10e). 1 ;,v, fi», fi*»
Till) Roofing (1) . 3 9V4 8*4 914
Tob Pro Lx 275b 1 31. 3v, 3v,
Trans-Luxl.20a). 3 2*4 2% 2“4
i r.inswpsi till 4 0*4 O'i OM
Tublze Chntlllon. 2 84 8% 8%
Tunp-Sol L 40g.. 1 24 24 24
Tuns Sol L pf.80_ 1 64 64 64
Un Gas (Can) .10. 1 144 144 144
Un Pram FS .10a. 6 134 12% 12%
United Alrc war.. 4 8% 84 84
Unit Gas ... 24 4 3% 34
UnitLt&PowA. 3 24 2% 2%
Unit Lt & Pcv pf. 4 194 19 19
Unit Shlpyds A... 20 5% 44 5%
Unit Shlpyds B .. 11 24 14 24
Unit Shoe M 24a. 25s 694 694 694
Unit Sh A1 pf 1 4- 10s 39% 39% 39%
Unit Spec (1 4(1) 1 44 44 44
U S Foil (B) ,56g. 1 5% 6% 5%
U S Lines pf__ 1 14 it, 14
U S Hadlator__ 1 34 34 34
U S P.uh Heel .... 1 2% 24 2%
United Strs vto... 1 ft ft ft
Unit Ver Ex 3g... 3 14 1% 14
UnivOorpvlc 3 3 3 3
Et-Idaho Sug.l "g l 1% 1% 1% j
Ut P&L pf 4.U8g. 25s 85 35 35 j
Utility Equit . 1 1% 1% 14
Utility & (nd pf _ 1 1% 1% 14
Util P&L pf (r). 60s 144 144 144
Valsuar pf vtc 75s 36 35 35
Van N MT 2.20g_. 1 144 144 144
Venez Ilex Oil _ 1 34 34 34 j
Venezuela Petrol. 2 14 14 14 '
Wagner Bak 1.60 1 94 94 94 1
Wayne Knit M lg 5 64 64 64
Wentworth 2ng 1 24 24 °4 '
WeatVaC&C 1 24 24 24 i
Westmor Coal lg 100s 9 9 9 !
Wright Hari.4Ua) 24 84 8 8
Yukon Gold 21g 2 lTs 1% 14
r In Bsnkruptci or receivership or being
reorganized under the Bankruptcy act or
aecurities assumed by such companies
Rates of dividends in the foregoing table
are annua) disbursements based on the
last quarterly or semi-annual declaration,
ynle.-.fc otherwise noted special or eitra
dividends are not Included
a Also extra ct extras e Declared or
paid so far this year, no regular rata,
f Payable in stock * Paid last year,
h Cash or stock k Accumulated dividend
wid or declared this year vv With war- j
rants. xw Without warranta. war War
rants
PACKING INDUSTRY
NEARING UPTURN
Adverse Drought Influences Ap
pear Liquidated—Stock
Population Larger.
NEW YORK. Feb. 10 (Special).—
The meat packing industry at last
shows signs of entering the initial
phase of a long-range up trend In
sales volume and profits, according
to a new study appearing in Poor's
Industry and Investment Surveys.
Adverse drought influences now ap- j
pear to be liquidated, and live-stock
population should increase substan- i
tialiy over the next two or three
years. However, actual improvement
in earning power will be hardly per
ceptible until the 1938 autumn months
when the new meat supplies come
into the market.
"Although a first quarter deficit is
by no means abnormal for the in
dustry, the recent inventory declines
have accentuated the situation to an
unusual degree,” continues the sur
vey. "The sharp down trend in meat
prices, which brought grief to most
companies as the 1937 year drew to
a close, continued well into Decem
ber, thereby forcing additional in
ventory shrinkages .
"Now that the price structure for
meats gives indication of firming not
far below present levels there is rea
son to believe that the meat packing
industry has at last liquidated the
adverse effects of the 1934 and 1936
droughts and is entering the prelimi
nary stages of a recovery movement.
Nevertheless, any tangible result of the
reversal in trend is unlikely to be
reflected before 1939. Manifestly many
months must elapse before depleted
live-stock supplies are restored to nor
mal proportions.”
DOLLAR GOES DOWN
IN LONDON DEALINGS
By the Associated Preis.
LONDON, Feb. 10—The United
States dollar declined three-sixteenths
of a cent in foreign exchange trading
today, closing 5.01 5-16 to the pound,
against $5.01 'i for sterling in New
York overnight.
French francs were quoted 152.62 to
the pound, compared with 152.69 yes
terday.
PARIS, Feb. 10 i/Pi.—Final quota
tion for United States dollars was
30.4* francs (3.285 cents to the franc)
in foreign exchange trading today.
In comparison the franc was 3.282
cents in New York overnight. Ex
change on London, 152.67.
Three per cent rentes in the Bourse
were 69.15; 4(48 “A,” 71.85; *y2s 1937,
107.00.
LONDON BANK REPORT.
LONDON. Feb. 10 :4b.—The Bank of
England statement as of February 8 (in
thousands of pounds):
Circulation -476,071 — 623
Bullion - 326,988 + 1
Reserves 50,916 + 623
Public deposits - 16.076 +4.672
Private deposits 138,456 —9,516
Government securities 93.273 ■—4.805
Other securities 28,515 — 634
Proportion of the bank's reserve to li
abluty is 32.9 per cent, compared with
31.5 last week
Rate of discount. 2 per cent.
NEW YORK PRODUCE.
NEW YORK Feb. 10 (4b.—Eggs. 14.728:
firmer Mixed colors, special packs. 18'a
19V, standards. 18V4: firsts. 17W sec
onds. 16>2-l t; mediums and dirties. No. 1.
16V average checks. 14'j-15. Refrigera
tor standaads. 14V15; firsts, 13Vi-1414:
lower grades. 11-13.
Butter. 985.620. firmer. Creamery.
Di5hef *AW *xtra. 30V4-31V«: extra (92
score), 30'4: flrsts (88-91). 28-30: sec
onds (84-87). 28V4-27V
Cheese. 66.282. easy. Prices unchanged.
RUBBER FUTURES.
NEW-YORK. Feb. 10 (4b.—Crude rubber
futures opened, unchanged to 6 lower.
Mxrch, 1437-38; May. 14.67b; July.
GILLEnE PROFITS
$4,500,159 Total Compares
With $4,975,888 for Pre
vious Year.
B, the Associated Press.
BOSTON. Peb. 10.—The Gillette
Safety Razor Co. announced profits
of $4,500,159 for 1937, after all charges,
equivalent (after deducing dividends
on preference stock) to $1,50 per share
of common stock. This compares with
$4,975,888 in 1936. or 1.72 per com
mon share outstanding.
Continental Steel Co.
NEW. YORK, Feb. 10 (tf),—Conti
nental Steel Corp., reported for the
year ended December 31 net Income of
$814,553 after all charges, Including
undistributed profits taxes, equal
after preferred dividends to $3.20 a
share of common stock. This com
pared with $736,228, equivalent on
the same basis to $2.78 a share of
common m 1936. Plants are at Ko
komo and Indianapolis, Ind., and
Canton. Ohio.
Liquid Carbonic.
Liquid Carbonic Corp. reported for
the three months ended December
31. the first quarter of its fiscal year,
consolidated net loss of $14,538 after
all charges. This compared with con
solidated net profit of $64,092 in the
corresponding i>eriod of previous year.
Company has plants throughout the
country.
Western Union.
Western Union Telegraph Co. re
ported preliminary net income for
1937 of $3,325,769 after charges but
before provision for Federal surtax
on undistributed profits, equal to $3.18
a share of capital stock, compared
with $7,199,120, or $6.89 a share in
1936.
Michigan Steel Tube.
Directors of Michigan Steel Tube
Products deferred action on the com
mon dividend due at this time. Pay
ments of 25 cents were made in March
and June last year and 50 cents in
September and December.
Pennsylvania G & E.
Pennsylvania Gas & Electric Corp.
omitted the dividend on the class "A''
common stock. Previous payment was
37>2 cents quartely on December 1.
The regular quarterly disbursements of
$1.75 each were ordered on the $7
preferred and 7 per cent preferred
stock, both payable April 1 to holders
of record March 21.
Underwood Elliott.
Directors of Underwood Elliott
Fisher Co. declared a quarterly divi
dend of $1 on common stock, payable
March 31 to holders of record March
12. In March. 1937, a payment of 75
cents was made, $1 in June, and spe
cials of $1.50 and $1.25 in September
and December. Company manufac
tures office equipment at plants in
Connecticut and New Jersey.
New York Air Brake.
New- York Air Brake Co. reported net
income for 1937 of $935,757 after de
preciation and Federal surtax, equal
to $3.61 a capital share, compared
with $763,557 or $2 94 a share in 1936.
In 1937 the company charged $124,014
for obsolete inventories.
---.
SHORT-TERM SECURITIES.
(Reported by Smith. Barney * Co.)
Am Tel. A-Tel 5',,s 1943 1 S’, JKUj
Auburn Auto Co. 4’4s 1099 l(i>, 10
Austin A Northw. 5s 1041 0°
Baldn Locom. W. As 1040 109
California Packing As 1940 103’, 1ii4’,
Ches A- Ohio. Ry As 1030 10A 105>.
Container Corp. As 1049 84 V So
Cuba Vonh. Rys. A Vs 1041 4o 4>
Dela A H"dson 4s 1049 A4 A4
Edison El. I’nim. 4s 1030 1031, lo.A
C>en. Puo. Service AVs 10.30 073«
Or. -.an, l- Ind. 4 Vs 1041 ]o8’a
Houston Oil AVs 1040 ops, 10O
Illinois Steel IVs 1040 107',
ln’1 Merc Marine Os 1041 4 1 41'*
Inti Tel. A- TrV 4Vs 1030 8-A>, SO
Laclede Gas Light As ] rim B.v, 88
Lake Erie A- 'Ve^t. As 1041 OA'a
I/th Val. Ter. Ry. As 1011 7 1’I
Louisville A- Nash. 4s loin 101s, 103
Michigan Central 4s 1040 100
Midland R R N. J. As 1040 17V
Milw A- Northern 4 Vs 1030 51 74’,
New York Tel. Co 4 Vs 1930 I01O, 10HV
Penna. Co 3Vjs 1041 101‘4 ln.1s,
Penn-Dixie Cement Os 1041 7>>V 8()
Penna R. R. Co 4s 1043 1oBs4 ill
Phila . Balt. & W. 4s 1043 1ii8'4 110V
Rio Gr. Western 4s 1030 41s, 40’,
Ter. R. As. St. L 4>2s 10.90 105'4
Texas A N. Orleans 5s 1043 104 V
vanaoium Corp. As 1041 83 S3’,
Warner Bros. Hs 1030 72'4 74V
Western N. Y. A- Pa. 4s 1043 10A lofit.
White Sewing Mach. Os 1040 01 04 V
-•-*
CHICAGO PRODUCE.
CHICAGO Feb. 10 1SP1.—Poultry, live.
24 trucks: steady: hens, over A pounds.
1HV: 5 pounds and less. 10>2; Plymouth
Rock fryers. 11: White Rock. 11; other
prices unchanced.
Butter 053,onA: steady: creamery, spe
cials 103 score'. 101,-3014: extras ;<»■•).
lO'V other prices unchanged. Eggs. 8.
083: steady prices unchanged
Potatoes. 87: on track. 138; total United
States shipments. 003; old stock dull; de
mand light; supplies moderate. Sacked
per hundredweight. Idaho Russet Burbanks.
U. S. No. 1. I 35-40: Colorado Red Mc
Clures. U. S. No 1. 1.35-45: North Da
kota Bliss Triumphs. U. S. No. 1, 1.11V:
Wisconsin Round Whites. U. S. No. 1. 1.05;
Michigan Russet Rurals. U. S. No. 1. 1.05;
new stock slightly weaker; demand light;
supplies moderate: track sales, carlots.
Florida Bliss Triumphs, bushel crates. U.
S. No. 1. 1.40-45.
BOSTON WOOL MARKET.
By the Associated Press.
BOSTON. Feb. 10 OPi.—A very mod
erate amount of business was being trans
acted today in Boston on fine wools, but
trade was very light on coarser grades.
Prices continued to show a softening
tendency in most lines of shorn domestic
wools. Some graded French combing fine
territory wools were being sold at 63-65
cents scoured basis, although a few holders
were firmly resisting offers below 65 cents
and were asking up to 68 cents scoured
basis. Spot 12-mor.th Texas wools were
available in Boston at 65-67 cents scoured
basis, while moderate quantities were being
brought from the country through order
buyers at 60 to 62 cents scoured basis
delivered East.
-— •
U. S. TREASURY NOTES.
NEW YORK. Feb. in OP).—Prices
quoted in dollars and thirty seconds.
Approx.
Pet. Month. Year. Bid Asked, yield.
3 Mar.. 1938 . 1(11-5 101-7
24, June, 1938 101-18 101-20 _
2>A Sept.. 1038_ 101-28 101-30 _
1 Dec.. 1038_101-4 101-6
IV, Mar. 1939 — 101-13 101-15 .16
2's June. 1030_ 102-14 102-16 .26
l3a Sept.. 1030_ 101-13 101-15 .41
14* Dec.. 1030--- 101-16 101-18 .52
144 Mar.. 1940.__ 101-28 101-30 .69
114 June. 1940- 101-20 101-22 .77
1*4 Dec., 1940.101-19 101-21 .91
1 >4 Mar., 1041— 101-16 101-18 .98
l3i June. 1941— 101-5 101-7 1.00
1>5 Dec., 1941.-- 100-25 100-27 1.02
1’4 Mar.. 1942... 102-5 102-7 1.20
2 Sept.. 1942— 103-9 103-11 1.24
144 Dec.. 1942-.- 102-6 102-8 1.27
•
NEW YORK SUGAR.
new YORK. Feb, in (F.—Raw sugar
was irrefcular today. The No. .3 contract
declined under hedge selling and liquida
tion. while the No. 4 firmed up after early
irregularity on increased covering and
commission house buying.
March No. 3 sold off to 2.20 and July
to 2.22. or 1 to 2 points net lower, while
March No. 4 rallied from .98Vi and July
from l.o.'i'a to 1.05V leaving the list
about l'/i points net higher at 2 p.m.
-•
METAL MARKET.
NEW YORK. Feb. 10 (F.—Copper
steady; electrolytic, spot and future.
10.00; export. M.80. Tin barely steady;
spot and nearby. 40.75: future. 40.8?'.b.
Lead easy: spot. N?w York. 4.50-55; East
St. Louis. 4.35 Zinc quiet: East St. Louis,
spot and future, 4.75. Platinum. 38.00
nominal. Iron, aluminum. antimony,
quicksilver and wolframite unchanged.
ODD-LOT DEALINGS.
By the Associated Press.
The Securities Commission reported to
day these transactions by customers with
odd-lot dealers or specialists on the New
York Stock Exchange for February 9:
6,080 purchases Involving 128.09? shares;
4.064 sales involving 114.750 shares.
lx
Building Permits in Leading Cities
Senate Committee Expected
to Vote Next Week on
Over-Counter Rules.
By the Associated Press.
The Senate Banking Committee Is
expected to vote next week on the
Maloney bill, which provides for Se
curities Commission regulation of
over-the-counter dealings in unlisted
securities.
The proposal has provoked stren
uous opposition from over-the-counter
dealers, specialists in public securities
and some State and municipal offi
cials.
i
Charles E. Weigold. a partner in the
New' York firm ot Roosevelt & Wei
gold. Inc., told the committee at its
final session yesterday the proposed
legislation, offered by Senator Ma
loney, Democrat, of Connecticut,
would give the S. E. C. "virtual con
trol" over municipal financing.
Interference Feared
By giving the S. E. C., "blanket
authority” to devise regulations, it
could conceivably interfere with
"thousands of transactions” in public
securities, he said.
Three other witnesses also express'd i
a hope that municipal securities would
be excluded from the bill. They were
David Wood, a New York municipal
la-; specialist; Charles McNear, Chi
cago. and Francis H. Lindley, assistant
city attorney of Los Angeles.
In addition, chairman Wagner.
Democrat, of New York read a letter
from Morris E. Tremaine, New York
State controller, opposing the legisla
tion.
"I believe the damage would be fabu
lous,” Tremaine wrote, asserting reg
ulation of transactions in municipals
would require the listing "of upward
of 250.000 items" with the S. E. C.
Defends Present Setup.
It would be “far more sensible,” he
said, to place Federal securities under
control of the S. E. C.
Wood testified the mechanics of
marketing public securities had been
developed by years of experience and
said it had worked “exceedingly well.”
"I hav' heard criticism by the chair
man of the S. E. C.” he added, ‘‘that
small industry has been unable to
raise capital That hasn't been true
of the smallest municipality.”
Wood said that enactment of legis
lation affecting the free operation of
the small over-the-counter dealers
would result '‘inevitably” in diminish
ing the free flow of municipal se
curities. and increasing the cost of
money to small communities.
"Nothing would affect municipal
financing more disastrously than in- I
terference with free marketing.” he
added. "I think this bill is completely
impractical so far as public securities
are concerned.”
INVESTING COMPANIES
Bankers lonUrJc? '^—Investment
(Noon quotations.!
. , „ . . Bid Asked.
Admin Fd 2nd Inc 11 M i
Am Business Shrs new __ 338 3 hk
Am Gen Eq Inc tin H7
Am Ins Stocks _ 4 go 4 -5
Bancanier Blair I 4 1'5 gV-g
Bankers Nat Tnv Corp _ •> jdg ”>75
Basic Industry _ 3 nti
Boston Fund Inc ... __ _ 14 75 1578
Broad St Inv _ •’•> 13 ”3 nr
Bullock Find _~ I'i'th’g 13 7 5
Corporate Trust ~ ”'on
Corporate Trust AA ”'(11
Corp Tr AA mod _I ” 44
Corp Tr Accum Ser_ ” ni
Corp Tr Acc mod _ ” 41
Cumulative Tr Sh 4 ”g
Depos Bk Sh N Y “A".III ] gg
Depos Ins Shrs "A"_ ” 7H
Depos Ins Shrs •'B” I- ”>4 -
Diversified Tr C _ 3 35
Dividend shrs _I 1 ig 1
Equity Corp S3 pf__°4 ”g 07 "5
Fidelity Find Inc__ I7's4 l»”'|
First Boston Corp .__1375 1"5
Fscal Fund Bk Sh_~ ”'ft4 ” 70
Fiscal Fund Ins _ . 3 in 3 51
Fixed Trust Sh A_~ 8 4(1
Fixed Trust Sh B . _ fl fin
roreten Bond Associates .. 7 ”k 7 sn
Epund Tr Sh A _ a.fln a>5
Fund Investors Inc_15 18 ifi4n
Fund Tr Shrs A _ 4 aii 5 00
Find Tr Shrs B .1 307
Grn Cnnital Corn _ 28 50 30 71“
Gen Investors Tr _ 4.4*! 4R1
Group Sec Agriculture __ 1 07 1 17
Group Rec Automobile_ .75 r:i
Group Rec Building _ 1.15 i'*n»
Group Sec Chemical _ 11° 1 °*»
Group Rec Food ’75 'Sj*
Group Sec Invest Shrs _ZZ 07 ’74
Group Sec Merchandise .ro 05
Group Sec Mining _ l.lfi 1 n7
Group Rec Petroleum I__ i’n*i i‘f*»
Group See R R Equip_ 70
Group Rec Pfpel _ 1.07 1 17
Group Rec Tobacco rn 1 on
Huron Holding _ _" .15 c;
incorp investors _ ir, ns
Instl Sec. Bank Group..1. i.i« 1.28
instl Sec. insurance _ i •'« i «**
Investors Fd C Inc _ZZZ p 40 p PS
Keystone Custodn B 2_20.P4 22 SO
Keystone Custodn B 3_13.OP 14 30
Keystone Custodn K 1_14 07 1ft °P
Keystone Custodn K 2_ p ftft 10 45
Keystone Custodn S 2_13.7ft lft’no
Keystone Custodn S 4_ 4.02 5.12
Major Shrs Corp_ _ 0 1°5
Maryland Fund_ZZZZ ftift.3 0 ll"
Mass Invest Tr is oft °n 11
5fptu»i inve.t ::::::::: IS:?* r?:A«
Nation Wide Sec _ * 84 04
Nation Wide Voting_ 1 18 T ni
Natl investors __ 400 5 14
Enalan(l Fund _11.71 12 59
X |50caa. Bk Stocks ... 7.9.1 8.58
5 V K*'l:IfJkSupmy.- 8.W 7.18
N v ^lcc Er|ulP - 0.91 7.51
N V I?* Insurance 8.41 9.19
N V IS8S5. ^hm"y - S-?»
N Y o'tJfr’k5' *a(R Fquip- fi S7 7 44
n y stocks. Steel 7 4° s 03
North Am Bond Tr ctfs II 5°'°5
Nor Am Tr Shares 1953 _ 1 im
Nor Am Tr Sh 1955 * 4t -
Nor Am Tr Sh 1950 ~~ *';m
Nor Am Tr Sh 1958 *'>10 -
Plymouth Fund Inc ' "40 48
Ouarteiify Income Sh 1 075 11 77
Spileili0! *HoiHn & P°m 1125 lino
c e^!e5 Sh Inc 8.08 9 10
Selected Income Sh 3 78
Sovereign Invest 04 71
t?rnHer*Jr^skQPund -:::- 14>'R 14 82
Itfnrt ™\TTr S(lrs- 2.40 2.00
Stan* util Inc 41 40
Supe of Am Tr A' 0 00
Super of Am Tr AAl_Z 191 -
Super of Am Tr B - no-i -
pf Am Tr bbzzzzzz i n.-!
Super of Am Tr C. 5 03
Supe' of Am Tr D - a'?! -
Supervised Shrs IZ- 801 noiT
Trustee Stand Inv C * 19
Trustee Stand Inv D o' 14 -
Trusteed Am Bit B . go ~87~
Mg^SSF.^zz: nk i3:85
Haseltine Corp.—1937 common share
earnings were $3.18, against 83.08.
Kroger Grocery
Shows 4 Per Cent
Decline in Sales
By the Associated Press.
CINCINNATI, Feb. 10.—The Kroger
Grocery & Baking Co. reported today
that sales for the first four-week
period of the company's 13-period
year, ended January 29, showed a drop
of 4 per cent from sales of the same
period in 1937.
Sales totaled $17,961,840, compared
to $18,798,326 for the first four weeks
of 1937, a decrease of $836,486.
FOR ‘ME MEN"
Roper Says R. F. C. Head
Will Reveal Arrangements
in Week or 10 Days.
BACKGROUND—
Last week’s uproarious meeting
of little business men, called by the
administration to suggest remedies
for present recession ills, made a
variety of recommendations. One
of the chief of these was a plea for
easier loans with which to expand
their enterprises. What the busi
ness wanted mainly was long-term
loans. It was easy, they said, to
get 90-day loans, but loans for ex
pansion must be long-term ones,
since some time elapses before the
expansion produces results.
By the Associated Press.
The administration extended a vir
tual promise today to help small busi
nessmen borrow money.
Although details were withheld
pending further study. Chairman
Jesse H. Jones of the Reconstruction
Finance Corp. was reported ready to
disclose the loan arrangements within
a week or 10 days.
His Intention was made known yes
terday by Secretary of Commerce
Roper, who was host to a thousand
small businessmen at last week's tur
bulent conference
Speculation on the proposal ranged
from mere continuation of R. F. C.
lending to elaborate systems of new
Feredal credit agencies and Federal
insurance of private loans to business.
Liberalized R. F. C. Seen.
Usually well-informed officials said
they "guessed’ the administration
was not ready to do anything more
drastic than to extend and possibly
liberalize the type of lending which
the R. F. C. /ias been doing for more
than three years.
Under the past R. F. C. program,
Industrial loan authorizations totaled
about $190,000,000. of which about
$109,000,000 was actually loaned. This
set-up, however, was described as
over-cautious by the small business
delegates, who suggested either Fed
eral insurance or direct loans from
another agency.
The insurance idea was urged to
day by Senator Claude Pepper, Demo
crat, of Florida, who introduced a bill
to authorize the R. F. C. to do the
insuring.
His proposal would permit the R.
F. C. to guarantee bank loans to
business men up to $100,000 for five
years, provided the loan were backed
by real estate or other property worth
125 per cent of the amount of the
loan.
Interest Too High?
The banks would be permitted to
charge a maximum of 6 per cent in
terest plus a maximum of 1 per cent
service charge, and the R. F. C. would
collect an insurance premium of 12
to 1 per cent.
Representative Kopplemann, Dem
ocrat, of Connecticut is sponsoring a
bill to create a Federal intermediate
credit corporation which could dis
count business loans or lend money
directly to businesses unable to obtain
private financing.
Senator Burke, Democrat, of Ne
braska, discussing the Pepper bill,
raised the question of whether the
total interest and service charges were
in excess of what small business men
now have to pay for loan*.
Senator Pepper said he would agree
to a reduction in the interest rate if it
were demonstrated that capital could
be attracted by the change.
FOREIGN EXCHANGES.
NEW YORK. Feb. 10 m.—‘The majority
of European currencies appreciated slichtly
In terms of the dollar today.
The French franc gained .OO'a of a
cent and the belga. a similar amount.
Sterling was unchanged. The Swiss franc
advocated .01%i of a cent and the guilder
.01 of a cent.
In Paris and London the dollar showed
small change. —
Noon rates follow: Great Britain In dol
lars. others in cents. Great Britain, de
mand, 5.0iy«: cables. fi.(il>/«: Ho-day bills.
ft.dO'/j France demand. :t.28s/«; cables.
3.2834. Italy, demand. 5.26*/a; cables, i
5.2HV».
Demands: Belgium, lfi.90'4: Germany,
free. 4n..,!8,4: registered. 'Jo.BO; travel.
25.10: Holland. 55.00; Norway. 25.1»,/a:
Sweden. 25.85: Denmark. 22.30: Finland
2.22: Switzerland. 23.20?*: Spain un
quoted; Portugal. 4.5534: Greece .02Jy;
Poland. 10.02: Czechoslovakia. 3.514a:
Yugoslavia. 2.35: Austria. 18.05n: Hun
gary. 10.00: Rumania. .76' Argentina.
33 43n: Brazil (free). 5.85n: Toklo. 2Ii.05:
Shanghai. 20.75: Hong Kong. 31.34; Mex
ico City. 27.80: Montreal in New York.
100.01 A: New York in Montreal. 08.Obi's,
n Nominal.
NEW YORK LIVE STOCK.
NEW YORK. Feb. 10 t#>.—(State De
partment of Agriculture) .—-Cattle. 1,410.
including 1.400 direct. Steers and bulls
nominal. Nothing done on one load of
steers. Cows steady; low cutter and cut
terVe\'lers^ and calves. 1.300, Including
1.330 direct. Vealers absent, nominal.
Heavy calves strong; plain 280-pound
W fthee p*an d°i am be. *.020; all direct. Mar
aO direct. Market nominal.
WARD SALES LAG
Volume for Fiscal Year
Reaches Best Levels in
Firm’s History.
Br the Associated Press.
CHICAGO, Feb. 10.—Montgomery
Ward & Co. today reported a decrease
in gross sales during January com
pared with a year ago, but volume lor
the fiscal year which closed January
31 was the greatest in the company's
history.
January sales totaled $21,840,243, a
decrease of 3.27 per cent compared
with January, 1937.
Sales for the 12 months ended Jan
uary 31 totaled $432,539,796, an in
crease of 14.75 per cent compared with
the previous fiscal year.
NEW YORK, Feb. 10 (^.—Depart
ment and apparel store sales in the
New York Federal Reserve district
showed declines from the previous year
for the week ended February 5 and
for the four weeks ended February 5,
It was reported in a survey by the Fed
eral Reserve Bank of New York.
Department stores in New York and
Brooklyn experienced a decline of 1.9
per cent for the week and of 3.3 per
cent for the four-week period. Sales I
of apparel stores were off 6.9 per cent
for the week and down 5.9 per cent
for the four weeks.
In Buffalo department store volume !
declined 2.4 per cent for the week and !
6.1 per cent for the four weeks. In;
Rochester the decline for the week was j
9.2 per cent with no change reported :
for the four weeks.
-•
AIRPORT BONDS OFFERED.
NEW YORK. Feb. 10 (Special).—
An issue of $650,000 city and County of
San Francisco airport bonds has been
awarded to a banking group composed
of Lehman Bros., Phelps, Fenn & Co.,
and Stone & Youngberg on a bid of
100.109 for 2s. The bonds are being
offered at prices to yield from 0.85 to
2.10 per cent for maturities ranging
from 1940 to 1949.
CLEARINGS DROP
10 4-YEAR LOW
Total for 22 Major Cities Re
mains Well Below Same
1937 Period.
By the Associated Press.
NEW YORK, Feb. !0.—Dropping to
the lowest for any full week in over
four years, bank clearings volume for
the latest period slid abruptly- under
the corresponding 1937 total for the
13th consecutive time.
The aggregate for 22 leading cities
of the United States for the week
ended Wednesday, February 9, as com
piled by Dun & Bradstreet, Inc, was
only $4,322,816,000, as compared with
$5,620,866,000 for the like 1937 week,
or a decrease of 23.1 per cent. The
similar comparison for the week pre
ceding revealed a loss of 26.5 per cent.
New York clearings sank to $2,615,
364,000 from $3,705,188,000 a year ago,
a difference of 29.4 per cent. The turn
over at outside cities amounted to
$1,707,452,000, against $1,915,678,000
last year, or a decline of 10.9 per cent.
Clearings for the latest week fell
$712,340,000 from the total for the
week preceding. Between the two
similar weeks of 1937 there was a loss
of $1,230,069,000.
At Louisville clearings this week in
creased by almost 100 per cent, due to
flood conditions prevailing last year.
New Orleans showed a gain of 23.3
per cent, while Dallas and Portland,
Oreg., also had slight gains.
For all other outside centers, how
ever, declines were recorded, the most
important of which were: Chicago,
21.5 per cent: Detroit, 195 per cent:
Pittsburgh, 19.4 per cent; Boston, 19.0
per cent; Cleveland. 12.1 per cent;
Buffalo, 10.0 per cent, and Atlanta,
9.5 per cent.
- ■ ———a—
NEW ENGLAND MUTUAL
REVEALS RECORD YEAR
Special Dispatch to The Star.
BOSTON, Feb. 10.—Npw insurance
in the New England Mutual Life In
surance Co. in 1937 totaled $156,642,
000, larger than any other year,
George Willard Smith, president, said
in the company's annual report.
Insurance in force at the end of the
year amounted to $1,471,806,000. a
record total. Assets, which continued
to grow all through the depression
years, were increased by $26,671,000 in
1937 and at the end of the year stood
at $402,321,000, or double the assets
of 10 years ago.
OFFICE FURNITURE
WE SELL, BUY OR EXCHANGE
Chairs Steel Files
Desks Steel Cabinets
Tables Safes
BAUM’S OFFICE FURNITURE
1416 Eye SI. N.W Phone \'A. 2164
First Mortgage Loans
District of Columbia, Nearby Maryland and Virginia
Homes Business
Apartments Properties
Terms from 3 to 15 years
Also
Monthly Payment Loans
Randall. H. Hagner & Company
INCORPORATED *' *
Homoaoi loam Co.rc.ro.dkkt
<fln*ur<inct Company
1321 Connecticut Ave. N.W. Telephone DEcatur 3600
PROPERTY MANAGEMENT
THE FIXED FEATURES
Which are elements of our
FIRST MORTGAGES
—liberal and continuing interest
rate; principal supported by im
proved real estate, etc., make them
n favored investments for both large
„ UveL. and small amounts. Inquiries
Forty-Five welcomed.
2 ears
Experience B. F. SAUL CO.
First Mortgage REAL ESTATE
Investments National 2100 925 15th St. N.W.
MORTGAGE LOANS
Monthly Payment
REAL ESTATE
LOANS
On Improved Property
INTEREST
No Renewals
*
Consult Real Estate Department
American Security
AND TRUST COMPANY
main office: Fifteenth St. and Pennsylvania Ave.
Branch Offices
7th and Mass. Ave., N. W. Seventh and E St., S. W.
Eighth and H Sts., N. E, 1140 Fifteenth St., N. W.

Evening star. [volume], February 10, 1938, Page A-19, Image 19
About Evening star. [volume] (Washington, D.C.) 1854-1972

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Evening star. [volume], February 10, 1938, Page A-19, Image 19
About Evening star. [volume] (Washington, D.C.) 1854-1972