OCR Interpretation


Evening star. [volume] (Washington, D.C.) 1854-1972, March 09, 1938, Image 15

Image and text provided by Library of Congress, Washington, DC

Persistent link: https://chroniclingamerica.loc.gov/lccn/sn83045462/1938-03-09/ed-1/seq-15/

What is OCR?


Thumbnail for A-15

SPECIALTIES LEAD
CURB UST GAINS
Pittsburgh Glass Rules More
Than 3 Points Above
Previous. .
By the Associated Press.
NEW YORK, March 9.—Industrial
specialties led a moderate upward
movement in the curb market today.
Prominent among the gainers in
late trading were Pittsburgh Plate
Glass and American Cyanamid “B."
The former, quoted ex-dividend, ruled
more than 3 points above the pre
vious closing. Cyanamid was steady
after a gain of about iy4.
Also higher were Humble Oil, New
Jersey Zinc, Pan-American Airways,
Sherwin-Williams and Gulf Oil.
Distilled Liquors, Inc., which broke
sharply yesterday following the sus
pension of Richard Whitney & Co.,
from the stock and curb exchanges,
was quoted at a fractional loss.
Citrus Fruit Ruled
Subject to 5 Pet,
Freight Rate Rise
By the Associated Press.
Citrus fruits. Interstate Commerce
Commission officials said informally
today, are subject to a 5 per cent in
crease under the Interstate Commerce
Commission’s freight rate decision.
While declining to give an "official
opinion,” one I. C. C. expert said he
felt "quite sure" the commission in
tended to include citrus fruits in the
agricultural projects exempted from a
10 per cent increase. The agricultural
projects exempted from a 10 per cent
increase are subject to a 5 per cent
boost.
Fruits classified as tropical, however,
are among the commodities upon
which 10 per cent increases were au
thorised. Bananas and other import
ed tropical fruits are in this class.
ELECTRICITY OUTPUT
IS UNDER YEAR AGO
Week of March 5 Is Gain of 0.2
Per Cent Over Previous, but
7.5 Per Cent Below 1937.
By the Associated Press.
NEW YORK, March 9 —Production
of electricity in the United States for
the week ended March 5 totaled 2.035,
673,000 kilowatt hours, a gain of 0.2
of 1 per cent over 2.031.412.000 In the
• preceding week, but a loss of 7.5 per
cent from 2,199.976.000 kilowatt hours
In the comparable 1937 week, the Edi
son Electric Institute reported today.
The increase was contra-seasonal
and carried the Associated Press index
of power production, with 1929-3C
taken as 100, to 106.8 from 106.5 the
previous week. A year ago the index,
adjusted for season and long-term
trend, stood at 117.8.
The range for recent years follows;
1938. 1937. 1936. 1935. 1934.
High_111.8 125.2 119.8 105.5 97.4
, Low _106.5 111.8 102.0 94.1 91.9
The institute reported the following
percentage losses from n year ago in
major geographic areas: New Eng
land, 9.8; Middle Atlantic, 1.1; Cen
tral industrial. 15.3; West Central,
4.9; Southern States. 6: Rocky Moun
tain, 14.4; Pacific Coast, 1.4.
CURB BONDS
DOMESTIC BONDS.
Hifti). Low. Noon.
Ala Power 4%s 67_ 71 70% 70%
Ala Power os 68 _ 75% 75% 75%
• Ark-Ls Gas 4s 51_102 lol% 101%
Ark PAL 5s 56 .... 04 03% 93%
As El Ind 4%s 53.._ 36% 36% 36*',
As G A E 4%s 40 .. 25% 25% 25%
Assoc G & E 4%s 73 So 50 50
As G A E 5s 68 28% 28% 28%
Assoc G A E os 73 64 52% 54
As G A E 5%s 1 c 87% 86% 87%
As T A T 5%s 55 A 72% 72% 72%
Bald Loco 6s 50 . 73 70 71%
San Pac 6s 42 . lox 108 108
en II P S 4%s 67 F 80% 80% 80%
Cent 111 P S os 68 G _ 06 06 96
Central Pw 5s 57 D .. 70 69 % 70
Cent Pw A Lt 5s 56 - 87% 87*. 87%
Cent St El os 48 35% 35% 35%
Cent St El 5 %s 54 .. 35% 35% 35%
Cen St PAL 5%s 53 - 43% 43 43%
Oil MAUI 4%s 56 A . 93 93 93
Cues Svc 5s 50 . 57% 57% 57%
Cities Svc 5s 66 .61 61 61
Cities S Oas 5%s 42 - 97% 96% 07%
Cities S Gas P 8s 43._ 102 102 102
Cit S PAL 5%s 49 . 54% 54% 54%
Comun ty P A L 5s 57. 63 63 63
Com Pb 8v 5s 60 A , 97 97 97
Cons G D 6s 43 A st - 62 62 62
COnt O A E 5s 58 A 72% 72 72%
£k* 88 93% 93% 93%
g*1 Si1 PK. °.s 2° B !°3. 101 101
g»*t G * P 4 s 66 A - 78% 76% 76%
5Lr,'™& if1-05-2030 - «8% 68 68%
DJl.® os 02 - 89% 89% 89%
£np O&R 5%s 42 81*2 81% 81%
nrest Tire 5s 42 104% 104% 104%
nf.Tvl A°-Prl. _4s 88 - 86 8414 8414
Gary EAG os 44 st xw 86% 86% 86%
ofen Allien A* a41 121V» 10114 10114
oien Alden Cl 4s 60 67 67 67
Guard Inv 5s 48 A 38 38 38
S 6s 53 A _ 04 94 94
& L os 06 C . 85% 85% 85%
Indian & M E 5s 55 . loo1 ■> 106% 106%
Indian EC 5s 51 C- 75% 74% 75%
?52 ,n* §*r 5s 80 — 52 % 62 62
Indiana Ser 5s 63 A— 52% 52% 5'%
Jlndnap P A L 5s 57 A._ 105% 195% 105%
nterst Pw 5s 67 _ 4 ’ a-! * 40 *
‘•l?w.8?-83 A- 42 V. 42% 42%
&»"<?£ WmsSm All Vftt 1!S&
Kentucky D 5s 69 I__ 72 72 72
fiKhPiSi1 m ?‘?s 88 A-- 07,4 97% 97%
t1! £ *1 85 42 - 104V4 104% 104%
i2”pj aLtr?!a45*-- 88 4 88% «8%
M.rTSL I*5 2— 10414 104 104
Memph PAL 5s 48 A_- 78% 78% 78%
Metropolit Ed 4s 65_ 104 1 04 4 1 04
if?™°PnF?1S.fS 71 E-104% 104% 104%
tJIS? £*L a4 >S i?-,2s14 88,4 8814
ifepr Pwr 4%s 81 ___ 109 lop 109
Neb Pwr 6s 2022 A- 114% 114% 114%
Nevad Cal El 5s SC 74 7* «
New E GAE 5s 47_ 63 53 63
a prrKv/:8s2l—122141221410314
* fl*w E Pw 5%s 54_ 86 85 85
j&w Or PS 6s 40 A_ 70 70 70
N» P_* Lr 4%s 67 .. 107% 107% 107%
NTS EAG 4%s 80 91% 91 91%
y?rsta Pwr 3%s 67-- 100% 100% 100%
Oh ? P*r 4%S 56 D 104% 104% 104%
-- Okla Nat Gas 5s 46 95 95 95
rtnn C L & P 4 Vis 77 s-iu
TO TO W
Sib I N T i 22 I - 10314 !03% 103%
gl|W6?>^: vz* ft*4
to &£ *6a* 47 A ; 10647% lW* 4*
Sou Ind Ry 4s 61 ... 60 '*10™
Souw L A P 6S 57 A . 97% >71/
Std Gas A El 6s 61 A. 51 { 4
Stand Pw A Lt 6s 57 .. 49 [9
Super 011114%s 70 ---106 16*
Tinn Pub S 5s 70_ 70 mfl
Texas Elec 6s 60 88 igu
Tex Pw A L 5s 66- 99 >9$
Tide Wat P 5s 79 A— 88 U
©nit Lt A Pw 6a 75 — 64 14
©nit LARD 5%s 53_72 72V
faPub S 5%s 48 A..„ 89 19V
Va Pub Ser 6a ’50 B- 83. 13V
Wash GasLt 6a 58_104$ J4V
West Pa Tr 6s 60_102$ *2$
Jgaat T Ut 5a 57 A- 86V 16 V
®J«*SUn LAPS*-106 16
Wti.P * L 4* 66 - 93% . _. 13 V
Yadkin Rlv P 5* 41_99% 99$ 19$
Col Aar M B 7s 47 ... 22% 22% 22$
2*nm„ML® .*» 72 lx— 100% 100% 100$
g«> M E1 6%s 53 A - 53 63 63
Fin H M B 5s 61 st -.104 104 104
llMdoz P 4s 51 st — _ 75 76 75
iww With warrants,
xw Without warrants.
f IjSratlabfilty^fiawJSSPtar maturity,
t Companies reported in receivership.
CARLO ADDfQS.
Bevenue frelaht carlMdinn on railroad)
1 for the week ended March I
. .. , Kerch S. Prey. wk. Year aeo
tefiM m Hi
». t
NEW YORK CURB MARKET
(By print* wtra dlraet la The Mar.)
I Stock and Sale*—
Dividend Rata Add 00. Hitb Low Close.
I Ainsworth 1.60g. 2 7*4 7*4 7*4
' AlaGt Sou <3a).. 2oa 46*4 45*4 45*4
Ala Pow pf (C) ... 100a 52*4 62 62
Allied Prod n lg. 60s 14*4 14*4 14*4
Alum Co Am ... 250a 78 77*4 77*4
Alum Co pf (6)... 100s 106 106 106
Alum Ind (.40)_60s 4*4 4*4 4*4
Alum Ltd_ 60s 88 88 88
Am Airlines_ 1 10*4 10*4 10*4
Am Centrifugal— 1 2*4 2*4 2*4
Am Cit P&L<3h). 126s 23*4 23*4 23*4
Am Cyn B .60 — 12 23*4 22*4 23*4
Am Gas&El 1.40— 6 26 25V4 25*4
Am Gen _ 1 4*4 4*4 4*4
Am Maracaibo .. 16 *4 *4 *4
Am Republic ,40g 3 7*4 7*4 7*4
Am Seal Kap 20g 1 5*4 6*4 ‘6*4
Am Sup<Power— 6 B *4 *4
Am Sup Pw pf— 1 13 13 13
An jostura .40g— 1 8*4 3*4 3(4
Apex Elec S0g „ 2 14*4 14 14*4
Arctur Rad Tube. 4 *4 (k (k
Ark Nat Gas A... 1 3*4 SH 3*4
Ashld O&R .40_ 3 3*4 3*4 3*4
As G & El A_ 10 1 1 1
As G & El pf _ 3 7 6*4 6*4
Asso Laun of Am 1 4r (k tk
At Cst Fish .35g . 6 3*4 3*4 3*4
Atl Coast L <3g)_ 20s 25 26 25
Atlas Corp war 6 111
Atlas Plyw’d 25e 1 10 10 10
Austin Silver M— 18 *4 *4 *4
Automat Prod __ 2 1*4 1*4 1*4
Baldwin Lo war.. 7 4*4 8*4 8*4
Baldwin Rub .50. 2 7*4 7*4 7*4
Barium Stain Stl. 23 2 1>4 1*4
Bath 1 W <6%f)_ 4 6 6*« 5*4
Berk&Gay Furn.. 1 £ () B
BirdsbS F 1.25g 1 8*4 8*4 8*4
Bliss & Laughlin 225s 17*4 17 17
Blue Ridge (,15g) 2 1*4 1*4 1*4
Borne Scry .50e.. 800s 11 10*4 10*4
Bourjois Inc lg— 2 3*4 3*4 3*4
BrazT&L.50e — 2 10*4 10*4 10*4
Breeze Corp 60*.. 2 4*4 4'4 4*4
Bridgep't M(2g). 2 8*4 8*4 8*4
Brown F&W(.60) 3 7*4 7*4 7*j
Brown F Dist 4 2*4 2*4 2*4
Brown Rub ,60a 6 4*4 4 4*4
B N & E P pf 1.60. 2 22*4 22*4 22*4
Bunker Hill & S— 20 12*4 12*4 12*4
Burry Bis .25g._. 2 2*4 2*4 2*4
BBOCB BOB iim
Dividend Rate. Add 00. High Lew Cloaa.
Powdrell A Alex. 3 4 4 4
Prod Corp - 10 % % %
PSInd$6pf_ 60s 19 19 19
P S Ind $7 pr pf . 80s 83 32 32
Pug Sd PAT .f5g. 1 6% 6% 6%
PugSPf 5pf 6.25g. |75s 3214 31 32%
Quale Oats pf (4). 40a 137% 137 137
Rayethon Mfg_ 3 2 2 2
Red Bank OH .. 9 6*4 6% 6%
Raed Ro Bit ,80a. 1 26 26 26
Safety Car (lOg). 100a 80 77 77
St Anth Gold_ 1 % % %
St Regia Pap- 4 8% 8 8%
Savoy Oil- 1 1% H4 114
Segal Look- 8 111
Seiberling Rub-2. 6 3% S 8
Select Industries. 4 1 11
Seversky Alrc _ 3 1% 1*4 1%
Shat Dem M ,35g. 1 714 714 714
Sherwin Will<4). 150a 88% 88 88
Sherw Wins pf 5. 40» 109% 10f/% 109%
Sllex Mfg ,25e — 1 6% 6% 6%
Sonotone (,26g).. 18 1% 1% 1%
South Coast ,15e. 4 3% 3% 3%
So Penn Oil 1.50a 8 39 38% 89
SoCalEpfCl.37%. 2 25 25 25
St Oil Ky (1) . 1 17 17 17
Stnd Oil of 0(1). 1 19% 19% 19%
St Pow & Lt . 3 1% 1% 1%
Stand StSp 1.25g. 18 8 8
Starrett Cor vtc.. 2 4% 4*4 4%
Strook* Co <2).. 60s 10% 10% 10%
Sunray Oil ,25g . 1 2% 2% 2%
Sunray Drug .80. 1 12% 12*4 1214
Taggart - 1 4% 4% 4%
TastyeastA_ 1 % % %
Technicolor .75g. 10 20 19 19
Tilo Roofing (1). 1 10% 10% 10%
Tob Pro Ex .275g 3* 3% 3 3
Todd Shipy’d la.. 25s 63% 63% 53%
Transwest Oil... 7 6 6 6
Tri-Contwar ... 1 % £ £
Tubize Chatlllon. 1 8% 8% 8%
Tubize Chat (A). 1 30 30 30
Tung-Sol L.40g.. 1 2% 2% 2%
Un Gas Can(.20e) 3 13% 13% 13%
Unit Gas - 24 4 3% 3%
Unit Gas war_ 2 % H %
Unit Lt A Pow A. 6 2% 2% 2%
Unit Lt A P cv pf 8 21% 20% 20%
UnitShipydsA 12 6 5% 6%
Unit Shipyds B . 4 1% 1% 1%
Unit Shoe M 2%a 100s 69% 69 69
IT S Foil B ,56g_ 3 6% 6% 6*4
US&lntSec_ 1 % % %
US Lines pf- 4 1% 1% 1%
U S Radiator_ 2 3 3 3
U S Rub Reel_ 1 "% 2% 2%
Unit Ver Ex 3g 6 1% 1% 1%
Unit Wall P .15g. 2 2 2 2
Ut Idaho Siig.l7g 3 1% 1% 1%
Utility Equit pf 100s 39 39 39
Util Pw & Lt (r). 2 % % %
Util P&L pf (r). 150s 10 10 10
Venez Mex Oil .. 13% 3% 3%
Venezuela Petrol. 2 1% 1% 1%
Wentworth .26g.. 2 2% 2% 2%
West Air Exp .. 2 3% 3% 3*4
Willson Frod (1). 2 8% 8% 8%
Woodley Pet .40 . 2 6 6 6
Wool w Ltd .53flg 1 15% 15% 15%
Wright Har (.40a 20 8 7% 8
cap ki Fr vtc — 1 ft ft ft
Can Marc Wire_ 2 lft lft lft
CaribSyn 50g._ 1 lft lft lft
Carrier Corp ... 8 27 26ft 26ft
Casco Prod l.SOe. 1 10 10 10
Catalin Am . 1 2ft 2ft 2ft
Celluloid lst(7g) 20 s 65ft 63ft 65ft
Cen Me P pf 1.75k 10s 79 79 79
CenNYPwrpfS 40s 85ft 8414 85ft
Cent&SwUt_ 5 lft lft lft
Cen St El .... lft**
Chi Flex Shft<4) 200s 52ft 61ft 52ft
Childs pf _ 76s 32ft 32 32
Cities Service_ 19 lft lft lft
CltServpf . 1 31ft 31ft 31ft
Cit S P& L *6 pf. 150s 61 60 60
Cit Svc P *7 pf .. 50s 65ft 65ft 66ft
Claude Neon Lt_ 1 lft lft lft
Club A! Uten - 1 lft lft lft
Colon Develop 2 3ft 3 3ft
Col Fuel&l war.. 7 4ft 4ft 4ft
Col Oft GAOS 4 3ft 3ft 3ft
Comwlth&Sowr 2 ft ft ft
Com P&L I pf 25s 22ft 22ft 22ft
Compo Sh vtc(l). 1 13ft 13ft 13ft
Con Biscuit 10e 3 4ft 4ft 4ft
Cons Cop M.12 ftg 7 5 4ft 4ft
CG&EB pf A(5) 50s 114ft 114ft 114ft
Cons Steel Corp 2 4!» 4ft 4ft
ContG&Eprpf (7). 100s 73ft 73 73
Cooper Bess ... 1 7ft 7ft 7ft
Cord Corp 4 lft lft lft
Creole Pete .50a.. 10 23ft 23 23
Crocker Wh 10g_ 1 6ft 6ft 6ft
j Cusl Mex . _ 42 * * *
Derby Oil _ 4 2ft 2ft 2ft
Distilled Liquors 11 3ft 3ft 3ft
Dubllier .15g 2 lft lft lft
Duke Power .75e. 25s 60 60 60
Duro Test .40- 1 6ft 6ft 6ft
Eagle Pit Ld .10e 2 10V« 10ft 10ft
E G&F 6 pf 1.501c. 60s 28 28 28
Estn States pf A. 25s 20 20 20
Easy Wash 51 B._ 1 3ft 3ft 3ft
Eisler Electric... 1 lft lft lft
El Bond & Sh 26 7ft 7 7ft
El B&S*5pf (5). 1 47ft 47ft 47ft
El B&S pf (6) .. 1 52U 52ft 52ft
El Pwr Asso 37g. 13 3 3
Electrol vtc 5 lft lft lft
Emp G&F 6% pf 75s 41ft 40 40
Em G&F 6 ft % pf 50s 42ft 41ft 41ft
Emp G&F 7% pf 100s 41ft 41ft 41ft
Emp G&F 8To pf 200s 45ft 44 44
Evans Wallo_ 4 * * *
Fidelio Brew_ 1 ft ft ft
Fire As Pbila 2a. 40s 53 62ft 63
Fisk R pf (6) . 25s 61 61 61
FI P&L 7 pf 1.75g 150s 39ft 37ft 37ft
Ford M Can A<1) '2 17ft 17ft 17ft
Ford M Ltd .213g 5 5 5 5
Fruehf Tail 1.10g 1 7ft 7ft 7ft
Gen Invest .. 1 * * *
Gilbert A C.62 ftg 1 6ft 6ft 6ft
Glen Alden ,50g . 6 5ft 5ft 6ft
Godchaux Sug B. 1 15 16 15
Grand N'at Films. 4 * ft *
Gray Tel P S (1). I 5ft 5ft 6ft
Great A&Pnvle 50s 47ft 47ft 47ft
Gt A&P 1st pf(7) 175s 123 121ft 123
Green Tap &D .. 3 6ft 6 6
Gulf Oil (,25e) 10 39ft 39 39ft
Gulf-St tit 6% pf 10s 88 88 88
Hall Lamp .30g__ 1 2ft 2ft 2ft
Haloid (1) 1 lift lift lift
Hartfd El 2.79l4g 50s 58 68 68
Hartf Rayon vtc. 1 lft lft lft
Hazeltine <3 _ 2 15ft 15ft 15ft
Hecla Mining.lOe 3 8ft 8ft 8ft
Hudson Bay 1.7Eg 7 26ft 26ft 26ft
Humb Oil .37 fte. 6 67 66 66ft
Huyl (Del) pf st. 100s 7 7 7
HygSylv 1.12fte 150s 21 20ft 21
i usitKiuincr or rrceiversmp or kibi
reortanlted under the Bankruptcy Aet or
ucurlties assumed hr such companies.
Rates of dividends in the fortrolnc table
are annual dlabursements bated on the
last quarterly or semi-annual declaration
unless otherwise noted special or extra
dividends »re not Included
a Also extra or extras, e Declared or
Paid so far this year no retular rite.
Payable In stock e Paid last year
n Cash or stock k Accumulated dividend
paid or declared this year ww With war
rants xw Without warrant* war War
rants
CHICAGO LIVE STOCK.
CHICAGO. March 9 </Pi <U. S. Depart
ment of Agriculture).—Hogs. 13.000. in
cluding 4.000 direct: market mostly 25 i
lower than Tuesday’* average following
lew early sales around 15 off; top 0.00; |
bulk, good and choice. 170-220 pounds.
9.25-50; well finished 230-280 pounds.
9.T.->-4(): medium to good. 140-100 pounds.
8.10-9.25: good mediumweight and heavy ;
packing sows. 7.85-8.15: smooth butcher
kinds early 8.25-40.
Cattle. 9.000. calves. 1.200: strictly
good ana choice, medium weight and
weighty steers steady to weak, common
and medium grades and all grades year
lings steady: market fairly active on all
lightweight .steers of yearling type: heifers
steady to strong: cows scarce, steady: bulls
weak to 25 lower and vealers mostly steady
with light kinds under pressure: best me
diumweight steers early 9.05; several loads
9.00-40; several loads held around 10.00;
weighty choice heifers up to 9.25: light
kinds. 8.5<); practical top weighty sausage
bulls 0.75: selected vealers. 10.50.
Sheep. 8.000. including 2 000 direct: to
day’s fat lamb trade slow; early sales
around 10-25 lower: good to choice wooled
offerings. 9.25-40; few sold to yard traders
and others held 9.50 and upward; sheep
steady; double choice ewes. 5.25.
lumwarvw |u— I lOtt 10* 105*
Imp Oil Can ,50a 8 19* 19 19
Imp O Ltd rg .50a 2 19 19 19
Ins CN Am (2a). 100a 55* 65* 55*
Inti Pet (l*a) 20 31* 31 31
IntPetreg l*a_. 1 81 81 31
Inti Rad .85t- 1 7* 7* 7*
Int Util B - 6 * * *
Interst H Eq .44.. 2 3* 8* 3*i
Jacobs Co (2g) .. 1 5* 6* 5*
Jonas ftNau .30g 2 2* 2* 2*
JonesALau Stl.. 2 31* 31* 31*
Kingsbury Brew. 2 * * *
Kingston Prod... 2 2* 2* 2*
Kirby Pet - 4 4* 4* 4*
LakeSbM (4a)._ 3 64* 68* 63*
Lehigh C&N 30.. 3 4* 4* 4*
Le Tourntau (1). 1 16* 16* 16*
Line Material_100s >19* 19* 19*
Lion Oil (la) ... 1 21* 21* 21*
Lockheed Aire ._ 11 8* 7* 8*
Long Island Lt 2 1*1* 1*
Long Isl L pf 3.50 20a 39* 39* 39*
L Isld Ltg pf B 2 26s 32 32 32
La Land A Ex .40 4 8* 8* 8*
Lynch Corp 50e. 50s 33* 33* 33*
McWllms Dredg. 2 10* 10* 10*
Master Elec 1.60. 60s 16 15 ' 15
Mem Nat G .60g.. l 4* 4* 414
MerrittCAS_ 3 3* , 3 3
Mesabl Iron ..16 * * . *
Met Tptpf 314a. 10a 29* 29* 29*
Mich Bumper 2 41 ft 14
Mid St Pet A vtc. 1 2* 2* 2*
Midwest Oil (1).. 1 7* 7* 7*
Minn MAM 2.25g. 360a 29* 29* 29*
Mock Jud Vo.l5e. 1 7* 7* 7*
Molybdenum (lg) 2 6,4* 4*
Mngrm Pictures 1 2* 2* 2*
Moore Corp 1.60a 600s 33* 33* 33*
Moore (T) Dlst . 1 1* 1* 1*
Moun Cit C -25g.. 1 6* 6* 6*
Mount Prod .60 .. 3 6* 5* 5*
Muakegon (.25e). 1 10 10 10
Nat Bellas Hess.. 3 * j| ft
Nat City L .75g.„ 1 8* 8* 8*
Nat Contain (1).. 2 8* 8* 8*
Nat Oil Pr 2.10g.. 1 18* 18* 18*
Nat Trans (lg) ._ 3 8* 8* 8*
Nat Tunnel A M-. 1 2* 2* 2*
Nehi Corp (lg) 3 43 41* 41*
Nev-Cal El pf (7). 26s 49 49 49
N J Zinc (.60e) .. 60s 62 62 62
New MexAAris . 3 2 1* 2
Newmont M .60e 1 61 61 61
NYC Omnibus wr I 8* 8* 6*
NYPALtpf (7).. 200s 99* 99* 99*
N Y Shlpbldg F . 2 6 6 6
Niag Hudson .408 2 7* 7* 7*
Niplsstng .37g— 6 2 8 2
Nor Am LtAP ... 1 1* 1(4 |*
Nor Am LAP pf 100s 34* 34* 84*
NorCenTex ,35g 7 3* 3* 3*
Nor Europ Oil 2 * * *
Nor States Pw A. 1 10* 10* 10*
OhioPow pf (6). 30s 111* lit* in*
OklaNatGas .. 12 9* 9 9%
OldetymeDlat . 9 2* 2* 2*
Pan-Am Air 35e 1 16* 16* 16*
Pantepec Oil 37 6* 6* 6*
Parkbg RAR 1.60 8 16 16 16
Pender (A) 8.50.. 60a 23 23 28
Pennroad 26g .. 6 2* 2* 2*
Penn Traffic- 1 2* 2* 2*
Penn WAP 2.50e. 3 66* 65* 66*
Phoenix 8sc .35s. 1 2* 2* 2*
Pioneer Old .40 . 8 3* 3* 3*
Pitney-Bow 10s 2 6 6 6
Pitts Plats O .36s 6 77 76* 77
Polaris M .61*— 6 8* 3* 3*
Potrero Sugar_ t ft * -/ *
>
FOREIGN MARKETS.
By the Associated Press. 1
LONDON. March 9.—A better demand
for securities was evident in practically
all sections of the list today with British
funds and industrials registering moderate i
gains. Steels and tobaccos moved up and
tne oil and mining groups closed higher.
Trans-Atlantic shares held steady while
the bond section was active and firm.
Home rails improved slightly and rubbers
were neglected.
PARIS—Industrial shares closed higher
in the Bourse with gains running from 10
to 2o francs above Tuesday’s close. In
ternational securities were in demand,
with Suez Canal advancing 250 francs and
Royal Dutch 90. Rentes finished 45 to 110
centimes higher.
LIVERPOOL.—Wheat futures eased on
talk of heavy Australian weekly exports
and weakness in Winnipeg prices today.
Net declines were V«d to >id at the close.
Cotton futures rallied near the close
and finished 3 to 5 points net higher on
&e,riy under
U. S. TREASURY POSITION.
By the Associated Press.
The position of the Treasury on March 7:
Receipts. *26.115.311.86; expenditures.
*22.958.627.88; balance. *53*92 074.
receipts for the month.
90- lWN.ool.et2.
. t°r the fiscal year <since July
?Jv» expenditures. *5.
112,436,800.52. Including *1.382.518
955.8 < ol emergency expenditures: excess
of expenditures. *1.158.879.508.23: gross
l?,^^;74'854 -™-85- ®n increase of
*2.140,801.68 above the previous day; gold
assets. *12.767.692.246.86.
Receipts for March 6 1937 f comparable
date last year* *23,262.947.49: expendi
tures. *22.272.375.08: net balance. *1.
584.332.141.67: customs receipts for the
month. *12,746.850.29. Receipts for the
fiscal year. *2,845.178.497.02. Expendi
£lr.?5.„.,*4 B54 Wl-OHS tM*. including Sl
967 963.858.95 of emergency expenditures:
excess of expenditures. *2,109.762.565.88:
gross debt. *34.687.969.012.15: gold as
sets. *11.459.505.266.06.
DOLLAR AT 31.33 FRANCS.
By the Associated Press.
PARIS. March B.—United States dollars
closed at 31.33 francs <3.192 cents to the
franc) in forelan exchange transactions.
This compares with 3.220 cents to the
franc in New York overnight. Exchange
on London. 150.90.
_In the Bourse 3 per cent rentes were
68.36: 4%s "A.” 70,60: 4%s 1937. 110.70.
LONDON. March 9 m.—French francs
continued weak in foreign exchange deal
ings todav. Final spot rate for the unit
was 162.25 to the pound, compared with
155 69 yesterday. Francs for 90-day de
livery were at a discount of 8%.
United 8tates dollars Improved A of a
cent, closing 5.01 A to the pound, against
$5.01% for sterling in New York overnight.
NEW TORE PRODUCE.
NEW YORK. March 9 (AS.-—Eggs. 34..
346; weak. Mixed colors: Special packs.
in%-20%; standards. 19-19%: firsts. 17%
18%: seconds. 17%-%: mediums and
dirties. No 1. 17: average checka. 16;
storage packed firsts. 18%-%.
Butter. 1.402.376: steady to firm.
Creamery: High than extra. 30%-31%: ex
tra (92 score). 30%: firsts (88-91). 28%
30%; seconds (84-87). 27-28.
Cheese. 186.025: easier: 8tate. whole
milk fiats, fresh fancy. 16-16%; other
grades unchanged.
CHICAGO PRODUCE.
CHICAQO. March 9 OP) lU. 8. Depart
ment of Agriculture).—Potatoes. 98: on
track. 302: total U. 8. shipments. 906; old
stock steady; supplies liberal: demand slow.
Sacked, ner hundredweight. Idaho Russet
Burbanks. U. 8. No. 1. 1.35-42%; Colorado
Red McClures. U. 8. No. 1. burlap sacks.
1.45-50; North Dakota Bliss Triumphs
90 per cent U. 8. No. 1. 1.07%-12%; Early
Ohlos. 90 per cant U. 8. No. 1. 1.05-10:
new stock steady; supplies moderate: de
mand light: track sales, less than carlots.
bushel crates. Florida Bliss Triumphs. U. 8.
No. 1. mostly 1.30.
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 March 8: 7.306
purchases involving 183.197 shares; 4.928
sales Involving 143.635 shares.
' CRUDE RUBBER FUTURES.
NEW YORK. March 9 <P).—Crude rubber
futures opened 8 lower to 1 higher.
March ^28-30: May. 14.40b: July. 14.69.
/ .a
. LONDON BAR SILVER.
«o«8rs?"* jiKfWt fBsnu*■*
t
MIL RATES BOOST
DEFLATES HOPES
I. C. C. Ruling Disappointing
to Authorities—Some
Items Up Little.
By the Auoeltted Press.
NEW YORK, March 9.—The Inter
state Commerce Commission's partial
grant yesterday of the 15 per cent
freight rate boost requested by rail
roads deflated widely held hopes In
Wall Street for more extensive aid
than the decision offered to traffic
hungry carriers.
Two outstanding rail authorities in
the financial district—Fairman R.
Dick and F. J. Lisman—termed the
ruling ‘‘disappointing'' in view of ex
pectations of a general increase of
10 per cent or more to tide the roads
over the current emergency.
The biggest item in freight revenues
—soft coal—was exempted from the
Increase and In other large classifi
cations the boost amounted to only 5
per cent, they noted.
However, rail analysts conceded half
a loaf was better than none at all.
Some roads were expected to get con
siderable benefit, particularly if traf
fic picks up from the present low level.
Recently carloadlngs have been run
ning at the lowest figures since just
before the 1933 banking holiday.
$151,000,tOO Oat of $437,000,000.
From a hasty study of the decision
as it came over financial tickers after
the close of the securities markets,
one rail analyst figured the annual in
crease might amount to about $150,
000,000 out of the $473,000,000 in
crease applied for, based on 1936
traffic.
Most rail operating officials reached
for comment withheld judgment until
they had opportunity for further study
of the increases as they concerned
various classifications of freight.
Soft coal alone In 1936 accounted
for 19 per cent of the carriers’ reve
nues. or $654,000,000.
Agricultural products, restricted to
a 5 per cent rate increase, in the
same year contributed 14 per cent of
the aggregate, or $471,000,000.
Forest Products 6 Per Cent.
Forest products, on which the in
crease also was limited, was the third
largest classification at $202,000,000, or
6 per cent.
Under the impact of the drastic
business decline, together with higher
operating expenses last year, revenues
have dwindled greatly. Net operating
income of Class 1 roads in January
dropped to $6,919,879 compared with
$25,971,525 in December and $38,889,
878 in January, 1937.
Attention was centered on the weak
ened condition of some roads when the
Erie, part of the old Van Sweringen
rail domain, shortly after the turn
of the year went into the courts for
reorganization after defaulting on
January 1 interest.
RAYON SHIPMENTS
RISE FOR MONTH
Weaving Activity Expands to
Highest Levels Since Last
October.
By the Associated Pres*.
NEW YORK, March 9.—Shipments
of rayon yam by producers to domes
tic mills increased last month and
weaving activity expanded to the
highest levels since last October,
according to the Textile Economics
Bureau.
"The available stock of rayon gray
and finished goods continued to de
cline during February.” said the
Rayon Organon, published by the
bureau. "Although the stocks of some
types of finished rayon goods are still
adequate, it is probable that the pres
ent weavers’ holdings of rayon gray
cloths are at an all-time low relative
to normal volume of business done.”
The publication's index of rayon
deliveries rose to 493 from 374 in
January. It compared with 721 in
February, 1937, around the recovery
peak, from which it fell to 240 In
December.
The bureau also announced the
value of textile fibers used in the
United States last year totaled $1,084,
600,000, compared with $1,079,300,000
in 1936, $486,000,000 in 1932 and
$1,578,400,000 in 1929.
Consumption compared as follows:
lf^37 i non
Cotton-$417,500,000 $419,9*00.000
Wool -3S7.400 000 346.400,000
-1S0.900.O00 190.300.000
- 90 700.OOO 101.700.000
Linen- 23,100.000 22,000,000
SUMNER NEW CHIEF
OF GEORGIA RAILROAD
Special Dispatch to The Star.
MACON, Ga., March 9.—Frank C.
Sumner has been appointed general
manager of the Macon, Dublin St Sa
vannah Railroad, with headquarters
at Macon, to succeed the late C. D.
Boyd. Since July, 1927, he has been
superintendent of the Tavares St Gulf
Railroad, at Tavares, Fla.
In his new position Sumner also
succeeds Boyd as general superintend
ent of the Tavares St Gulf, Raleigh St
Charleston, Chesterfield St Lancaster,
Jacksonville. Gainesville St Gulf and
Charlotte, Monroe St Columbia Rail
roads.
I. C. C. ORDERS HEARING
ON NEW ERIE TRUSTEES
Br the Associated Press.
The Interstate Commerce Commis
sion has ordered a hearing to be held
March 18 on the petition of Charles
E. Denney and John A. Hadden for
ratification of their appointments as
trustees of the Erie Railroad.
Denney and Hadden were named
trustees Jay the Federal District Court
at Cleveland after the Erie filed in
bankruptcy recently. The railroad will
seek to reorganise under section 77
of the Bankruptcy Act.
Examiners R. T. Boyden and Milo
H. Brinkley will preside at the hear
ing, which will be held here.
TREASURY bbtxb GOLD.
Br the Associated Press.
The Treasury sold $2,550,844 worth
of gold to foreign countries on
March 7.
This increased to $28,000,000 the
amount of gold sold to foreigners since
the Treasury modified its gold sterili
sation program recently.'
RAILROAD EMPLOYMENT.
Class 1 steam railways employed
939,888 persons In February, a de
crease of 2.01 per cent below January
employment and a decrease of 14.28
per oent below February, 1837.
1
Changes in Price of Pure Oil Co. Stock
' (Trend of last five pears reviewed with earningi.)
Pric* *4 Pur* 03 Comply St*ek, IVU-lfM
ItTTHS AIQVt AM INITIALS Of MONTHS: J >0* JAWUAIT, f fO* KWUA»T.
• _
GAINS OVER 1936
Income Equals $3.02 Share.
Youngstown Tube Sets
Strike Cost Figure.
By the Associated Press.
NEW YORK. March 9 —Texas Gulf
Sulphur Co. reported 1937 net Income
of >11.589,281, equal to >3.02 a share
of capital stock. This compared with
>9,853,014, or >2.56 a share, in 1936.
Consolidated Film.
Consolidated Film Industries, Inc.,
makers of motion picture film lab
oratory products, reported 1937 con
solidated net income of >605.756 after
Federal surtax, equal to >1.51 a share
on the >2 cumulative participating
preferred stock. This compared with
>919,516, or 23 cents a share, on com
mon stock in 1936. Properties are at
Los Angeles and Fort Lee, N. J.
Youngstown Sheet Sc Tube.
Youngstown Sheet Sc Tube Co. re
ported net sales for 1937 were >144,
288,797, or 13 per cent more than
the >127,674,517 reported in 1936. Im
provements and additions completed
during 1937 totaled >13,697,004.
The annual report said C. I. O.
strike last summer against “Little
Steel” cost Sheet Sc Tube >1,776,181,
aside from probable profits.
DIVIDENDS ANNOUNCED
NEW YORK. March Dividends de
clared. Prepared by the Standard Satie
ties Co.:
Aeenmnlalrd.
Pe- Stock of Pay
Rate. riod. record, able.
Int Metal Indus
$« cv oref A -..*1.50_4-l.-> 6-2
Do. *0 cr pref ..$1.50.. 4-15 5-2
W Tex Util $6 pf... *1— 3-15 4-1
•edited.
Bird Machine ... 10c Q 3-15 3-2*
Deisel-Wemmer-Gtl _.2Bc 3-10 3-25
Food Machine 25c 3-10 3-31
Mahoning Coal R R . *4 . 3-18 4-1
Sunshine Minina «0e __ 3-15 3-30
•Torriniton Co 20c __ 3-21 4-1
’Optional i1. ah "B."
No Action Taken.
Amalgamated Leather at* cv pf.
Bliss A Laughlin Inc.
Irvine. Johnson Shoe.
Becnlar.
Am Dist Tel N J *1.25 . 3-15 4-15
Am Dist Tel 7% pf $1.75 Q 3-15 4-15
G’dyear TlRolC rt2'ac Q 3-15 4-1
G'dy'r TAR 5re of 82*4c Q 3-15 4-1
Hickock Oil A _ 25c Q 3-0 3-15
Do. B 25c Q 3-0 3-15
Do 7rV pr pf . ..$1.75 Q 3-25 4-1
Midi Steel Prod . 50c 3-10 4-1
Do. H'r 1st pf *2 Q 3-10 4-1
Do. ¥2 non-cm d sh 50c O 3-10 4-1
Minn Min A- Man 4ltc 3-1* 3-31
N Y A Hon Ros Min 75c 3-15 3-20
Ottawa L H * P *1.50 Q 3-ln 4-1
Do 5*7 pf $1.25 Q 3-15 4-1
Pacific Tin Coro 50c Q 3-15 3-28
Page Hersey Tubes *1 Q 3-15 4-1
Prcc A Gamble 8*7 pf *2 <3 3-25 4-15
3oarks-With O'- Pi *1.50 Q 3-5 3-15
West Tex Util $0 pf #1.50 Q 3-15 4-1
Yukon Gold _ 4c 3-15 3-25
Air Reduct _25c Q 3-31 4-15
Amer Cities Pwr . _ _ . „ . .
AU$2.75 "A . 8**«c Q 3-18 4-1
Brit Amer Oil 25c Q 3-1 < 4-1
Brit Col Pw "A" 50c 3-31 4-14
Bruns Balke Coll pf $1.26 W 3-21 4-1
Canad Canners 1st pf 25e Q 3-15 4-1
Do. 2d pf _15c . 3-15 4-1
Davenport Hosiery __ 25c 3-21 4-1
Walter E. Heller_10c Q 3-20 3-31
Kirby Petrol_10c 3-31 4-15
Uon Oil 25c Q 4-1 4-20
Marine Midland 10c 3-1* 4-1
Nehl Corp 1st pf *1.31 V« Q 3-15 4-1
Sthn New Kne Tel ..$2 Q 3-31 4-15
Tubite Chatt 7% . _ ...
cum pf . _#1.16 Q 3-10 4-1
United Shoe Mach .82’ac Q 3-15 4-5
Oeisel-Wemmer-Gll ..20c Q 3-18 3-25
INSURANCE STOCKS
NEW YORK. March 0 UP).—
Aetna Cas (3a) - 85 80
Aetna Ins (1.60)- 41% 43%
Aetna Life r.80a)- 24% 26%
Am Equit (1.60a)- 26 27%
Am Ins Nwk (%a>- 11 12%
Am Reins (1.60) - 20% 31%
Am Reserve (la)- 23% 25
Am Surety (2%)- 42 44
Automobile (la) - 26% Ȥ.,
Balt Amer ( 20a)- 5% 6%
Carolina (1.30) - 21% 22%
City of N Y (1.20)- 17% 10
Conn Oen Llf (.80)- 25 -6%
Contin Cas (1.20)- 23% 25%
Pid * Dep (4a) - 06 00.,
Pirems Nwk (.30)- 8 0%
Prank Pire (la)- 25% -7
Gen Retnsur (2)- 33% 35%
Glen Palls (1.60) -- 36% 38%
Globe & Rep (,80a)- 12% 14%
Globe * Rut ,- 28 31
Great Amer (la)- 23 24%
Hanover (1.60) - 20 30%
Hartford Pire (2)- 65% 6t%
Home Pire Sec-- 1% 2%
Home ins (la)- 27 28%
Homestead (1), - 15 16 /a
Knickerbocker (.80)- 11 12%
Lincoln Pire _ - 2 3
Maryland Cas - 3% 4%
Mass Bond (3%) - 44% 46%
Merc Ins Pr (.32)- 4 6
Natl Pire (2) ,- 54% 56%
Natl Liberty (.20a)- « i 7%
N H’pshlre (1.60)- 40% 42%
N Y Pire ( 80a)_— 15% 16%
Nor River (1)- 24% 26
Phoenix (2a) .- <1}4 J3%
Prov Wash (la) xd - 20% 31%
Revere (P) In (1.20a)- 21% 22%
Rh Isl Ins (.40)- 6 7
Rossia Ins - 4% 6%
Ht Paul Pire (6) 186 104
Sprinefleld (4%a)-116 118
Sun Life (15) - 410 460
TOO4|'2%
Westchester 1.20a) - 30V? 32%
a Also extra or extras.
■ Declared or paid so far this year.
FOREIGN EXCHANGE
By the Associated Press.
NEW YORK. March 0.—The French
franc plunted to another hew low since,
1936 in terms of the dollar today in an
attempt to And its own level without con
tinuing aid from the stabilization fund.
At noon .the unit was 03% of a cent
lower at S.lSli cents. Sterltne lost 14 of
a cent and the Netherlands guilder, strong
yesterday, gave up .04 of a cent. Other
European currencies were generally a shade
l0^he dollar was steady at both London
and Paris. „
Noon rates follow:
Orest Britain in dollars, others in cents.
Orest Britain, demand. 5.0114: cables.
5.01'/«; 60-day bills. 6.0014: France, de
mand. 3.1814: cables. 3.1814: Italy, de
mand. 5.2614: cables. 5.2614.
Demands: Belgium. 16.92: Germany,
free. 40.40: registered. 20.50: travel. 24.75;
Holland. 46.92: Norway. 25.20: Sweden.
25.84; Denmark. 22.39: Finland. 2.23:
Switzerland. 23.21: Spain, unquoted: Por
tugal. 4.65*4: Greece. .92: Poland. 19.00;
Czechoslovakia. 3.51*4: Yugoslavia. 235;
Austria. 18.95n: Hungary. 19.95: Rumania.
.74*4: Argentina. 33.46n: Brazil (free).
5.90n: Toklo. 28.97: Shanghai. 29.76:
Hong Bong. 31.40; Mexico City. 2730:
Montreal in New York. 99.96%: New York
In Montreal. 100.0314. n—Nominal.
MONTREAL SILVER.
MONTREAL. March 9 l»V—«lver fu
I
Speculative Issues Keep
Chins Up—I. C. C. and
Whitney Shocks Latest.
By FREDERICK GARDNER,
Associated Press Financial Writer.
NEW YORK, March "It never
rains but it pours” is an old Wall
Street observation borne out In a
deluge of dismal tidings in the mar
ket place.
Suspension of Richard Whitney ft
Co. by the stock exchange capped a
budget of news which has been hard
reading for the financial district—de
clining business barometers, sweep
ing dividend cuts and omissions, a
groggy market for rail bonds, freight
traffic down to about the low levels
of 1933, virtual cessation of new fi
nancing by corporations, speculation
in stocks almost at a standstill most
of the time in recent sessions.
Yet speculative markets—stocks
and major commodities—have sailed
through it thus far in fair shape.
Most surprising to many observers
was the way they took the blow of
the Whitney firm suspension yester
day, an event which made the most
sensational headlines for a similar
Wall Street upset in many a day.
I. C. C. Ruling Is Blow.
On top of the suspension came the
I. C. C. decision on freight rates.
High hopes had been built up for it
in speculative circles. Many had
guessed the I. C. C. certainly would
come through with a flat increase of
at least 10 per cent to ease the suf
fering of the carriers, on their meager
freight diet.
But on hasty examination after the
decision came through late in the
afternoon, many rail analysts tagged
it "disappointing" since it restricted
the increase to only 5 per cent on
some of the largest freight classifica
tions and exempted others entirely,
Including soft coal, the biggest rev
enue producer.
Thus rail men were left waiting for
traffic expansion to provide the main
help in digging out of the cellar into
which carrier earnings have fallen.
Many Buying Outright.
Why the stock market has been so
impervious to the recent run of bad
news, brokers say, may be guessed per
haps from a look at brokers' loans and
S. E. C. data showing steady absorp
tion of stock in small amounts by pur
chasers who probably buy outright for
longer-term holding.
Evidently, it was held, so much
stock has gone into investment hands
and out of margin accounts, holders
have been able to ignore the black
clouds in hope the storm would pass.
Brokers' loans, an index to speculative
holdings on margin, have been cut
about in half since last March. Before
that there was little expansion in
speculative borrowings, so far as bank
figures show, compared with the extent
of the advance in stocks from March,
1935, on.
on tnat upswing, the Federal Re
serve Board jacked up margin require
ments until buyers had to put up 55
cents out of every dollar of the market
price in cash. That tended to keep
margin operations at the lowest in
market history of recent decades for a
comparable advance in prices, analysts
say.
Echo of Washington Policies.
In the L C. C. ruling restricting rate
increases on farm products and some
building materials, like lumber, an
alysts professed to find an echo of
Washington policies aimed at reviving
construction and helping the farmer.
Federal authorities have argued
building materials, among other prod
ucts in the “administered" price
category, have been too high in rela
tion with prices of farm products and
basic raw materials. Apparently a
stiff rise in freight rates would have
exaggerated the hump in building costs
still more for transportation costs are
considered a considerable item in
ultimate expense to the user of the
heavy products which go into factory
and home construction.
How much help rail equipment
F. H. A.
LOANS
on short notice for
building your home .
or REFINANCING
Shannon aluchS]
Mirtiin Uia Cniimitnl*
INVESTORS SYNDICATE
1505 H St. N.W. Natl. 2345
FIRST TRUST
MONEY
5%
Straight Loons for 3>Years •
Construction Loons
Monthly Payment Loans
$6.60 per $1,000 per month
BOSS & PHELi'S
MORTGAGE CO.
i/teri Correioondcnt
John aiSSSctHuSuiuft tn*. ce.
i«n » ■«. w.w. m. mm
makers could expect from the qualiflet
freight rate boost remained a ques'
tlon. Recently there was much talk
partly frost rail executives themselves
of the millions in added dollars car
rlers would spend for extra equipmen
if the commission granted the plea foi
a 15 per cent rate hike.
Lately such estimates have been re
vised downward by some authoritie:
in the equipment field who noted thi
low traffic figures, the absence o
signs of an early business tumarount
and reticence of several rail heads ii
forecasting any nearby improvejnen
in loadings. At current traffic figures
it was held, most carriers probabl;
had more than enough rolling stoci
to keep them going, particularly witl
the addition of new locomotives ant
freight cars bought in 1936 and las
year.
Hopes on Tax Revision.
With the freight rate decision of
the calendar, the tax revision bill ii
Congress carries the main hopes o:
many Wall Streeters for immediati
improvement in the tenor of new;
bearing on securities markets.
Whispers have gone widely aroun<
the street that the Senate probabl;
would turn out a bill much more t<
the tastes of the financial district ant
business than the House proposals fo;
modification of the much*criticize<
profits and capital gains levies
Whether this has been partial ex>
planation of the market's ability t<
stand up under Jolts from othei
quarters tape-watchers could only con
jecture. But taxes repeatedly havi
been emphasized by many as perhap
the most significant key to revival o:
business confidence within the nex
few months.
PENNSYLVANIA ADDS
REVENUES IN MONTH
Four New Taxes Will Increasi
Income $21,000,000—Fifth
to Total $23,000,000.
Bj the Associated Press.
HARRISBURG, Pa., March 9
Revenue experts figured today Penn
sylvania would take in $21,000,001
during March in four taxes on bi|
business, effective next Tuesday.
Another $23,000,000 will be raise*
through a fifth levy, on corporate ne
incomes, by May 15, the revenue de
partment estimated.
Through a new self-assessnfent fea
ture, the first four taxes are due oi
the same date that returns are made
and the whole sum is expected to b
collected before the end of the month
The four taxes are on capital stock
franchises, foreign bonus, and cor
porate loans. The foreign bonus i
levied on tangible property used it
Pennsylvania by out-of-State corpora'
tions.
Quickly following these four, thi
corporate net income tax falls du<
April 15. It may be paid in two in
installments within a month. Th<
department estimates it will raise $12,
000,000 on April 15, and another $11,
000,000 on May 15, when the secon
payment comes in.
■M4H0M
II 3rd fir N N.E. A _
r*lofr* t comptetT
•r Offaet. E»ti- *er»ice, featuring .
"neat! *" ”* °"7 «•»
enter.
k/0>
HI Lincoln I *7 One of tlie
IjfiM 6060 I largest Plants in
y\ tilp East.
Insurance
of
All Kinds
Including:
Compensation
J. Blaise de Sibour
and Company
INSURANCE BROKERS
1700 Eye St W.W. MEtro. 3990
Decline Helps to Center
Attention on Results of
Profits Levy.
Special Dispatch to Tha Star.
NEW YORK, March 0.—The pres
ent uninspi.-ing spectacle of reduced
or (Knitted dividends has its compen
sating features, according to the cur
rent Brookmlre Counselor, which also
points out that the declining trend In
eamings should in due time be re
versed In response to economic re
covery.
In Interpreting the prevailing tend
ency to reduce dividends, several fac
tors besides the fall in profits are to
be considered:
First, the undistributed profits tax
had Induced paying out an unnatu
rally large 'part of eamings in divi
dends in the past two years.
Second, some payments were made
• in the fourth quarter of 1937 that un
der normal practice would have come
1 in the first quarter of 1938.
Third, uncertainty over the fate of
the undivided profits tax makes for
! delay In declaring dividends.
Fourth, low payments at the time
■ when this tax Is under scrutiny in
Congress help to focus attention on
, its shortcomings.
t Moreover, states the Brookmlre bul
i letin, return to the traditional prac
’ tice of freely plowing back eamings
l into working capital Is favorable to a
i higher valuation of stocks in relation
to eamings, by fortifying the basis for
future increase In eamings.
Eamings and dividends will natu
rally rise with economic recovery.
[ Powerful economic forces, aided by
1 Government policies, indicate that re
; covery is about due, and in the period
just ahead, concludes Brookmire, the
beneficial effects of the spring season
- may be a contributing factor,
i _ -_
; REICHSBANK STATEMENT.
; Ma.rcA n —The Reichsbank
reichsmarks* ■0f March 8 (“n thousands of
I Notes in circulation 5,086.000 —102.000
! Foreign currency re- T°'TTi Unch’
l 0.^1., ol ex- 5381 15?
| change and checks 5,371,223 —286,988
Other daily matur
1 mg obligations 811.014 — 79.983
I Advances - 43.276 — 38.093
Investments 108.288 1,715
Ratio of gold and foreign currency to
notes. 1.5 per cent.
Rate of discount, 4 per cent,
i _
OFFICE FURNITURE
WE SELL. BUY OR EXCHANGE
Chain Steel File*
Desk* Steel Cabinet*
Tables Safes
BAUM’S OFFICE FURNITURE
1416 By* 81. N.W. Phone VA 8184
• We Will Bay f
2nd TRUST NOTES
On Improved D. C. Property
c4i
^AMERICAN
= 1 A • COMPANY •
“Every Phase *f Beal Estate”
807 13th NA. 8038
. Money for Constrnctioa Loans
and
i Loans on ExitHni Properties
FIRST DEED OF TRUST ONLY
! GEORGE I. BORGER
643 Indiana Are. N.W.
Nat’l 0350
First
Mortgage
Money
For
CONSTRUCTION
LOANS
and
LOANS ON
IMPROVED
PROPERTY ,
in the
District of Columbia
Nearby Maryland
and Virginia
Also
Monthly Payment
Loans
Prompt Action ’
B. F. SAUL CO.
925 15th Street Nad. 2100
Loans
ON IMPROVED D. C. PROPERTY
Immediate attention on your application for
buying, rebuilding or refinancing.
Loans repayable monthly.
No charge for appraisal If loan Is not made.
Interest charged only on unpaid balance of
princ*oal.
Equitable Cooperative
Building Association
915 F STREET N.W.
Ornrtni t*lt

xml | txt