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TURN IBULAK Increased Activity in U. S. Government Section Is Late Feature. Bond Averages 20 10 10 10 Rails Indust CTtil Per Net change. Unc. Unc. Unc. Unc. Today, noon 51 9 95.9 88.1 62.2 Prev'day... 51.9 95.9 88.1 62.2 Month ago. 55.6 94.5 89.8 63.8 Year ago... 94.5 103.0 99.7 71.7 1938 high... 70.5 98.0 92.2 67.0 1938 low_ 49.7 93.0 85.8 61.6 1937 high... 99.0 104.4 102.8 74.7 1937 low_ 70.3 95.5 90.3 64.2 1932 low_ 45.8 40.0 64.6 42.2 1928 high_101.1 98.9 102.9 100J 10 Low-Yield Bonds. Noon_107.3 Prev. day. 107.3 Month ago 108.1 Year ago. 109.1 1938 high. 109.3 1938 low.. 106.7 1937 high. 113.7 1937 low.. 107 0 1928 high. 104 4 1932 low.. 86.8 (Compiled bj the Associated Press.) By tv c Associated Press. NEW YORK, April 19.—Increased activity in United States Governments featured late dealings in the bond market today, where the trend in all groups was mixed. After idling through the forenoon, a majority of both direct and guar anteed Treasury obligations were un changed to 5-32 of a point higher. Losses extended to 4-32. In the corporate group the trend was down, with lasses of fractions to a point or more recorded for loans of Betnlehem Steel. Alleghany Corp , Great Northern, International ” Jro Ele'-trlc and Western Union. .ng modestly were Santa Fe 4’:s of 1948. American & Foreign Power 5s. Texas . Corp. 3’2s and McKesson & Robbins 1 6M>s. A drop of 3'2 points in Hungarian S’2s was the principal change in the foreign list. -• PAPERS TO GET MOST OFT. W. A. ADVERTISING By the Associated Press. NEW YORK. April 19—Newspapers will receive the better part of the ad- ; vertising dollar of Transcontinental Western Air. Inc., during the rest of 1938. it was announced. Newly appointed . as advertising ' manager for the line. J. C. Roberts, j former automobile advertising execu- j tive, said. "Newspapers will carry the bulk of T. W. A. advertising for the remainder of the year " He forecast the company would establish the first four-motored air plane coast-to-coast service this year. INVESTING COMPANIES NEW YORK April 19 cF.—Investment Bankers Conference. Inc.: (Noon quotations.' Bid. Asked. Admin Fd 2nd Inc _ 10.49 11.10 Am Bus Shrs 'new(__. .— 9 0S 3.49 Am Gen Eq Inc. . _ .55 .02 Am Ins Stocks _ . 3 75 4 on Bancamer Blair - 3 25 4 25 Bankers Na- Inv Corp .. 1.75 7■ 7o Basic Industry . _ 2 88 Boston Fund Inc ._ 14.13 loll Broad S' In' ... 21.40 22.89 i Bullock Fund 11.s,5 13.00 Corporate Trust A A — 1.90 - Corp Tr A A mod _ 2 3! - Corp Tr Accum Ser - 196 - corp Tr ACC MM . 2.31 _ Cumulative Tr Sfh . .. 4.os _ Depos Bk Sh N Y A"- 144 __ D«pos In* Shrs A” 2 57 .... Depoi Ins Shrs "B"_ 2.30 _ Diversified Tr C _ 3.15 Dividend Shrs _ 1 10 1.10 Equity Corp S3 pf_ 20.25 23 2.5 j Fidelity Fund Inc_17,97 18,38 First Boston Corp _ 19.75 12.25 i Fiscal Fund Bk Sh_ 2.34 2.00 Fiscal Find Ins _ 2.90 3,25 Fixed Trust Sh A _ 7.90 Fixed Trust sh B .. .. 0.19 Foreign Bond Assoc .. .. 0.23 6,77 j Found Tr Sh A _ 3.59 3.75 | Fund Investors Inc__ 14.32 15.58 Fund Tr Shrs A . _ 4,20 4.75 Fund Tr Shrs B . . . 3.81 Gen Capital Corp._2 7.37 29.38 Gen Investors Tr ._ 4.17 4.53 Group Sec Agriculture_ l.oo 1.10 Group Sec Automobile .70 .77 Group Sec Building _ 1.12 1.22 Group Sec Chemical _ 1.05 1.15 Group Sec Food .73 .81 Group Sec Invest Shrs_ .05 .72 Group Sec Merchandise __ .85 .93 Group Sec Mining _ 1,1 it 120 Group S)?c Petroleum _ 1.02 -1.12 Group Sec R R Equip __ .04 .71 Group Sec Steel _ .99 1.09 Group Sec Tobacco.. . _ .93 l.oo Huron Holding ___ .44 so Incorp Investors _ 15.55 10 72 Ins'] Sec. Bank Group 1.02 1 13 Tnstl Sec Insurance __ 1.12 1 "4 Investors Fd C Inc _ 8 S3 9 38 Keystone Custodn B 2 _ 1»09 "0 40 Keystone Custodn B 3_ 12 30 13.54 Keystone Custodn K 1 . 12.28 13 39 Kevstone Custodn K 2 __ s 30 909 Keystone Custodn S 2. _ 12 27 13 4" Kevstone Custodn S 4_ 4.00 4.51 Mslor Shrs corp __ 2 00 Maryland Find _ 5.01 5 51 Mass Invest Tr_ _ 1810 19 "7 Mutu-l Invest _ 9 80 .10 71 Nation Wide Sec _ 2.03 " 73 Nation Wide Voting __ _ 1 12 1 "3 Natl Investors _ 4 79 5 10 New Fn"land Fund . 11.21 1205 N Y Stocks. Bk Stocks 7.40 8 08 N Y Stocks. Bide Supply 0.07 7 22 N 5' Stocks. Flee Equip 0.49 7 93 N Y Stacks, Insurance _ 7,si s 45 N Y Stocks. Machinery _ 7.21 7 81 N Y Stocks. Oils s on 9 39 N Y Stocks. R P, Equip __ 0.10 9 0s N Y Stocks Steel 0.74 7 30 North Am Bond Tr ctfs 48 1"5 Nor Am Tr Shares 1953 1 02 Nor Am Tr Sh 1955 2 35 Nor Am Tr Sh 1950 _ 2 31 Nor Am Tr Sh 1958 _ 2 no Plymouth Find Inc __ 30 41 Quarterly Income Sh 9 35 10 "5 School kopf-Hutton A- Pom 75 1 50 Selected Am Sh Inc _ 8 39 9 15 Selected Income Sh 3 82 Sovereign Invest _ 02 09 Spencer Trask Fund. __ 13 32 14 0" Stand Am Tr Shrs_ a.15 2 45 B'and Util Inc 39 40 Super of Am Tr A . _ 2 84 Super of Am Tr AA_ 1.80 Super of Am Tr B _ 2 98 Super of Am Tr BB . 1 80 ~~ Super of Am Tr C_ 4 95 Super of Am Tr D _ __ 4 95 Supervised Shrs _ 8.52 9 03 Trustee St.-nd Inv C--_ 2 14 Trustee Stand Inv D __ 209 Trusteed Am Bk B _ .55 .01 ‘ Trusteed Industry Shrs _ SO 90 Wellington Fund . _ 11.80 13 02 NEW YORK BANK STOCKS NEW YORK. April IP /Pi.—Investment Bankers Conference. Inc. (Quotations as of 2 o’clock.) Bk of Am NTS (SF' (2.40) 4Mi A*43ii Bank of Manhattan (l'i) 20»4 "»i! Bankers Tr (2) 44>2 4B'2 Bklyn Tr (4) __ ” * 77 Cen Han Bk &• Tr (4)_ 87 pn Chase Nat (1.40' 2n'a 31'2 Chem Bk & Tr (1.80)_ 40 Vi 42‘a Commercial (81 _135 141 Cont Bk 4 Tr (.80) _ 11'4 17s, Corn Ex Bk & T (3)_ 4034 47*4 Empire Tr (1) 20'2 "pt First Nat (Bosi (2)_ 35'4 37i/4 First Natl (1001_1575 1015 Guaranty Tr (12)_223 ”•’’8 Irving Tr (.80) _ 11 12 Manufacturers Tr <2> 33Vi 35>i Manufacturers Tr pf (2) __ 40 48 Natl City (1) _ 2 4 Vi 2544 N Y Trust (5)_ 83 88 Public HVi> _ 243« 26Vi Title O & T_ 5'a 6 Vi U. S. TREASURY POSITION. By the Associated Press. The position of the Treasury on April 18: Receipts. 910,71.1.8P3.42: expenditures. 64P.8P5.056.62: balance. 92.887 870, 4R0.O8. customs receipts for the month. 912.7P2.382.P3, Receipts for the fiscal year (since Julv 1) 84.P55.888.326.84: expenditures. 80.084. 158.312.52 (including 51.630.630.026.22 of emergency expenditures): excess of ex penditures. 81.12S.46P.M85.H8: gross debt. $37,663,427,120.31. an increase of 808. 8.33.20 above the previous day. Gold as seta. S12.82P.908.404.87. METAL MARKET. NEW YORK, April IP u(b.—Copper steady; electrolytic spot. 10.00: export. 10.22. Tin spot and nearby. 3P.00: for ward. 3P.05. Lead steady: New York, spot, *.50 55; East 8t. Louis. 4 35. Zinc steady; East St. Louis spot and forward. 4 25. Iron aluminum, antimony, qulek sOver. platinum and wolffamlte un changed. BONDS ON N. Y. STOCK EXCHANGE ■7 private wire airact to m star. Approximate Transaction* Today. U S Govt Bonds._. 1.860,000 Foreign Bonds .. , 820.000 Domsstlo Bond*.. S.440.000 TREASURY. Hlth. Low. Class. 2 *4* 1945 _ 104.18 104.18 104.18 2*4* 1948 _ 102.15 102.14 102.14 2*4S 1949-53_ 100.23 100.20 100.23 28** 1945-47_ 105.5 105.3 105.6 28*8 1948-51_ 103.8 103.5 103.5 28*8 1951-54_ 102.3 102.2 102.3 28** 1956-69_ 101.30 101.28 101.28 284* 1955-60_ 103.1 102.30 10S.1 38 1946-48 _ 106 18 106.11 106.18 3s 1951-65 _ 105.1 105.1 105.1 3*4S 1946-49_ 107.8 107.8 107.8 3*4* 1949 52_ 106.30 106.30 106.30 3 84 a 1941 _ 108.2 1 07.27 1 08.1 314* 1943-45_ 108.27 108.25 108.27 3*4* 1944-46 ... 108 25 108.19 108 25 38*s 40-43 Jun* 106.7 106.7 106 7 38*s 1941-43 Mar 107.24 107.16 107.24 38*s 1946-56 _111.28 111.2* 111.28 48 1944-54 _113.16 113.11 113.16 414* 1947-62_117.19 117.17 117.19 FEDERAL FARM MORTGAGE. 3*1944-49 . 104.17 104.17 104.17 HOME OWNERS' LOAN. 2*4* 1942-44_ 102.20 102.17 102.20 *8** 1939-49_ 102.17 102.17 102.17 3* 1944-52 . 104.17 104.17 104.17 FOREIGN BONDS. Htfh. Low OlOM Ablttbl Pa&Pw 6s 63 464 454 454 Agr Mtg Bk Col 6s 48 234 234 234 AnttoQuIa 7* 45 A ... 74 74 74 Antioqula 7s 45 C 74 74 74 Argentine 4s 72 Feb 804 80', 804 Argentine 4* 72 Apr. 80', 804 804 Argentine 44* 71 ... 894 894 894 Australia 44* 56 _ 100 100 100 Australia 5a 55_ 1044 1044 1044 Australia 6* 57_ 104 1034 10*4 Austrian 7s 57 _ 35 35 35 Belgium 64s 49_ 1054 1054 1054 Rsrlin 6s 58 _ 21 21 21 Berlin 64s 50 _ 214 214 214 Berlin Elec 6s 55 _ 264 264 264 Berlin Elec 64* 59_ 274 274 274 Brazil 64s 26-57_ 134 134 134 Brazil 64* 27-57_ 134 134 134 Brazil 7s 52_ 134 134 134 Brazil 8s 41 ... 15 15 15 Breda Ernesto 7s 54.. 60 60 60 Brisbane 5s 58. 984 984 984 Brisbane 6s 50_ 102 102 102 B A 4 4-4 *»s 77_ 524 524 524 Bulgaria 7s 67_ 32". 324 324 Canada 2Vis 44_100'* 100', 1004 Canada 24s 45_101 101 101 Canada 3s 67 _ 96 954 06 Canada 3 % 61_1014 101 101 Canada 4s 60 _108". 1084 1084 Chile 6s 61 Jan_ 17'* 174 174 Chile 6s 61 Feb_ 17'* 174 174 Chile 6s 61 Sept_ 174 174 174 Chile 6s 62 —_ 174 17'* 174 Chile Mtg Bk 6s 62 . 154 154 154 Chile Mtg Bk 64s 57 15". 154 154 Chile Mtg Bk 6 8is 61 15". 15". 154 Colombia 6s 61 Jan.. 13". 13'. 13', Colombia 6s 61 Oct... 134 134 134 Col Mtg Bk 7s 46_ 234 234 234 Copenhagen 6s 52_ 964 96'. 96', Cuba 64s 45 _ 724 72 72 Denmark 44s 62_ 98 974 974 Denmark 54s 65_ 99 99 99 Denmark 6s 42 1024 1024 1024 Dominic 2d 54s'69eT< 59 59 59 Finland 6s 45 1054 1054 1054 Ger C Bk A 6s 3 8 Apl 30 294 30 Ger C Bk A 6s 60 Oct. 294 294 29'* Ger Gov 54s 65 26". 26 26", Ger Gen Elec 64s 40 464 464 464 Grt C El Jap 64s 50. 68 68 68 Greek G 6s 68 pt pd.. 23 23 23 Haiti 6s 52 _ 80 80 80 Hamburg St 6* 46 .. 204 204 204 Helsingfors 64s 60.. 1044 1044 1044 Hung Con M 7s 46 ... 12 12 12 Hungary 7‘*s 44_ 40 39 40 Italy 7s 51 . 79". 79", 79", Ital Crd P W 7t 47 B. 74 74 74 Japan 6 4s 65_ 58 58 58 Japan 64*64_ 71", 714 714 Kreug&Toll 5s 59 ct.. 29 29 29 Mei Ire 44s 43 aat.. 1". 14 14 Milan 64s 62 ... 614 614 614 Minas Gers SH* 59 . 74 74 7"« New So Wales 5s 61 . 101". 1014 1014 Norway 4s 63 _ 1004 1004 1004 Norway 44s 65_1014 1014 1014 Norway 4 4s 5$ _ 1034 103'. 1034 Oriental Dev 6s 58_ 544 544 544 Panama 54* 53 _ 102 102 102 Paulista Ry 7s 42_ 60 60 60 Peru 6s 60...._..... 84 84 84 Peru 6s 61 _ 8', S'* 84 Poland 6s 40_ 50 50 50 Poland 7s 47_ 69 69 69 Poland 8s 50 50 50 50 Torto Alegre 7 4s 66 . 74 74 74 | Porto Alegre 8s 61... 8 8 8 Prussia 6s 52 _ 214 214 214 Prussia 64s 61 _ 214 214 214 Rhein Main 7s 50_ 29 29 29 Rio de Jan 64s 53_ 7 7 7 Rio Gr do Sul 6s 68 ... "4 74 74 Rto Gr do Sul 7s 66... 8 8 8 Rome 64s 52 _ 644 64 641, Roumanta 7a 59 _ 22", 224 22". Sao Paulo St 6s 68_ 74 7'* 74 Sao Paulo St Ts 40_ 28", 28 28". Sao Paulo St 8s 50... 9'* 94 94 Serbs 7s 62 ... 27 27 27 Shin'su E P 6%s 52.. 58 58 58 Toklo 55 52 ... 43 43 43 Toklo 54s 61 .... ... 54 54 54 Toklo E L Ltd 6s 58 — 564 56 564 Uruguay 4s 78__ 40 40 40 Uruguay 6s 60_ 384 384 384 Yokohama_ 56 56 56 DOMESTIC BONDS. Adm Exp 4 Vi 46 std . 99 99 99 Alleg Corp 6s 49 ... 50% 50% 50% Alleg Valley 4s 42 . 102% 101% 102 Allis Chalmers 4s 62 103 103 103 Am & For Pw 6s 2030 47% 47% 47% Am I G Ch 6%s 49... 103 103 103 Am T & T 3%s 61_101% 101% 161% Am T & T 3 % s 66_ 101% 100% 100% Am T & T 6%s 42 ...113 113 113 Am Wat Wks 6s 76 . 87% 87% 87% Anaconda deb 4 %» 60 104% 103% 104 Anglo Chil Nit db 87 26 28 26 Armour! Del) 1st 4sE5 92% 91% 92% Armourl Dell4s 67 92% 92 92% A T&S Fetdl 4s 96 st 81 81 81 A T&S F adj4s 95st rg 75 76 75 A T&S Fe gen 4s 95 100 99% 100 A T&S Fe 4 %s 48 94 93 94 A T&S Fe C A 4%s 62 100% 100% 100% A T&S F RMt dv4s 65 96% 95% 95% Atl Coast L 1st 4S 62 76 75 75 Atlantic & D 2d 4s 46. 14% 14% 14% B A O 1st 4s 41_ 40 39% 40 B A O 4 %s 60_ 16% 15% 15% B A O 1st 6s 46_40% 40 40 B AO ref 5s 96_ 19 19 19 B AO 6s 96 F _ 19 18% 19 B A O rf 6s 2000 D_ 18% 18% 18% B AO ref 6s 96_ 21 21 21 B A O Swn 6s 60 . . 31 31 31 Bang A Aro. -t 4s 61 98 98 98 Bang A Ar t Is 61 *t 100% 100% 100% Battle Crk& t3s*9_ 40 40 40 Bell T of Pa 6s 4* B 118 117% 118 B»U Tel of Pa 6s 60 C 126% 126% 126% ' th Steel 3%s 62 ... 86% 86 86% Beth Steel 3*4s 66 __ 94 9.3% 93% Beth Steel 4%s 60 .. 102% 101% 101% Bos A M 4%s 61 JJ... 29% 29% 29% Bos A Me 6s 67 31 81 31 Bklyn Ed con 3%s 66 104 103% 103% Bklyn Man T 4%s 66 43% 43 43 Bklyn Un Gas 6a 60.. 65% 65% 65% Bklyn Un G 5s 67 B . 80 78% 80 Bklyn Un G ref 6s 47. 98% 98% 98% Buff RAP cn 4%e 67.. 20% 20% 20% Bush Term cn 6s 66.. 33 33 33 Bush T Bldg 6s 60... 40 40 40 Canadian NR 4%s61 114% 114% 114% Canadian NR 4%i 67 114% 114% 114% Canadian N 6a 69 Jul) 116% 116% 116% Can Nat 6s 69 Oct ... 119% 119% 119% Can North 6%s 46... 123 123 123 Can'dlan P db 4s perp 79% 78% 78% Canadian Pae 4%s 60 91% 91% 91% Caro Cl A O 6s 62 . 99 99 99 Cant Hud GAE 6s 57. 107% 107% 107% Cent 111 EAG6S61 . 94 94 94 Cent of N J gen 6s 6T 28 28 28 Cent of NJ gn 6s87 rg 25% 25% 23% Cent N Y Pwr S%s 62- 103% 103% 103% Cent Pae 1st rf 4s 49 69% 68% 68% Cent Pac 6s 60 _ 45 45 45 Cent Steel 8s 41 _113% 113% 113% Cert d deb 6%s 48 ... 63% 62% 62% Cbes A O 3 %s 96 D... 91% 91 91% CA O gen 4%a 92 ... 112 111% 112 C A O con 6s 39 _103% 103% 103% Chi & Atl ref 8s 49_ 18% 18% 18% Chi BAQ gen 4s'68_ 93% 93% 93% Chi BAQ 4%e 77_ 84% 84 84 Chl BAQ ref 6a 71_ 94 93% 94 C BAQ Illdly3Hs49 95% 95% 95% CBAQ 1 dlT 4s 49_ 100% 100% 100% Chl A Bill 6s 61 _ 10% 10% 10% Chi A E 111 6s 61 et_ 10% 10% 10% Chl Grt West 4s 69— 16% 16% 16% Chl 1 A L 6a 61- 4% 4% 4% 4 Rlth. Low. Glow Chi Mil A St P 4s 89 — 20% 20% 20% CMAStP 4%8 19 C_ 20% 20% 20% CMAStP 4Hs 89 E — 21 21 21 C M A St P 6s 78 8% 8% 8% CMStPAP ad] 6a 2000 8 3 3 ChlANW*n4a*T„. 14% 14% 14% Chi A fTW 4%a 49_ 5 5 5 Chi R IAP rf 4a 24 — 6% 6% 6% Chi R IAP Ren 4a 81.. 16 16 16 Chi R TAP 4 62 .. 7 7 7 Chi RIAP cv 4 tyr 80.. 4% 4% 4% Chi Un Sta 8%a 68— 101% 101 101 Chi Un Sta 4« 44_J04% 104% 104% Chi Un sta 4s 63 .. 106 106 106 Chi A W In cn 4s 62 . 80% 80 80% Childs A Co Rs 43 — 58 58 58 Cin Un Ter 3%s 71 .. 103 102% 102% Cln Un Term 5s 57 C- 108% 108% 108% CiavCl1fr4%s 60 ... 105% 105% 105% Clev El 111 3 %s 65 ...111 111 111 Clev Un Ter 4 He 77.. 73 72% 72% Clev Un Ter 5a 78 .. 79 78% 79 Clev Un Ter 5%s 72.. 82 82 82 Colo A So 4 %s 80 — 36 3H 36 Col G A E 6s 52 Apl._ 87% 87% 87% Col G A E Ba 52 May. 88 87% 87% Col Gas A Elec 6s 61. 87% 86% 86% Colum Ry PAL 4a 66. 106 105% 106 Cornel Cred 2%a 42 . 100% 100% 100% Cotncl Credit 814s 61. 97% 97 97% Com Inv Tr 314s 51 102% 102% 102% Comwlth Ed 384s 65H 105% 105% 105% Comwlth Ed 4s 81 F 107% 107 107 Comwlth Ed 414" 56D 110% 110% 110% Comwlth Ed Bs 53 A- 112% 112% 112% Cons Coal Del 6s 60 . 42 42 42 Cons Ed N Y 3148 46 101% 100% 101 Cons Ed N Y 314s 56 100', 99% 99% Cons Gas NY 414 s 61 105% 105% 105% Consol OH 314s 51 98 97*. 98 Consum Pwr3%s66 101',. 101% 101% Consum P un 3'4s 65 103% 103% 103% Consum Pwr.3%s70 103% 103% 103% Consum Pwr 3%s 65 106 105% 105% Cuba RP I st 5s 52 40% .39 39 Dayton TAL 3%s 60 107 107 107 Del A Hud ref 4a 43 . 33% 32% 32% Den G A-E 5s 51 .. 107", 107", 107% Den O A E ns 61 st . 107% 107% 107', Den A- R G eon 4s 36 10", ]0% 10% Den A R G W Bs 55 6% 6% 6% Den A-RG W 5s SSasst 5', 5% 5% Det Edison 4s 65 ... 108% 108% 108% Det Edison 4%s 61 ..112 112 112 Duquesna Lt 3%s 65. 108% 107% 108 Elee Auto Lite 4s 63.. 100 100 100 Erie cv 4s S3 B_ 15% 15% 15% Erie 1st 4s 96_ 35% 35% 35% Erie Ren 4s 96_ 17% 17 17 Erie ref Be 67_ 12 11% 11% Erie ref 5e 75_ 12 11 11 Falrbks Morse 4s 56 .. 100% 100 100% FIs E C Rv 5s 74 5% 5 5 Fonda JAG 4s 82 filed 1% 1%, 1% Gen Am Inv 5s 52_101% 101% 101% Gen Cable 6 %s 47_ 90% 90% 90% Gen Mot Acc 3s 46 — 10.3% 103% 103% Gen Mot Acc 3%s 51. 102% 102% 102% Gen Sfl Cast 5%s 49.. 43 41% 43 Ga A Ala 5s 45 .. 14% 14% 14% Ga Caro & Nor 6s 34 .. 14% 14% 14% Goodrich 4%s 56 ... 931* 92 93% Goodrich 6s 45 91 91 91 Goodyear TAR 5s ST 104% 103", 101% Goth Silk H 5s 46 ww 80 80 80 Grt Nr Ry 3 V4s 67 . 65% 65% 65% Great N Ry 4s 46 G . 80% 79% 80 Grt N Ry 4s 46 H .. 75% 75% 75% Gt N R *n 4 s 7 6 D . 71*. 71% 71% Grt N R «n 4 %s 77 E 71% 71", 71% Grt N Ry Rs 78 _ 75 75 75 GrtN'R6%s52 ._ 84% 84% 84% Gulf Sta Util 4s 66 . 101% 101% 101% Gulf Sta Util 4%s 46. 101% 101% 101% Hudson Coal 5s 62 A. 174 174 174 Hud & Man Inc 5s 57 . 144 144 144 Hud A Man ref 5s 57 43 424 424 111 Cent 1st ex 3 4s 51 774 774 774 111 Cent 4%is 66 31 30 30 ICC&St L N O 44s 63 334 334 334 ICC * St L N O 5s 63 364 364 364 inland Stl 34s 61 .. 1044 1044 1044 Inter R T 1 rf 6s 66 514 5m, 504 Inter RT 6s 32 .. 144 11 144 Interlake Iron 4s 47.. 77 77 77 Int Grt Nr 6s 62 .. 15 15 15 Int Hydro El 6s 44 . 62 604 614 Int Mer Marine 6s 41. 414 414 414 Int Pap 1st 5s 47_ 85’, 85 85 Int Pap ref 6s 55 _ 69 69 69 Int TAT cv 4 4s 39_ 834 834 834 Int TAT 4 4s 52_ 524 52 52 Int TAT 6s 55 . . 55 544 55 Jones* LStl 4 14-s 61 934 93’, 93', Kan CFSAM rf4s 36ct 20 20 20 Kans C So 3s 5U .. 624 624 624 Kan City So rf 5s 60 .. 54’, 544 544 Kans C Ter 1st 4s 60. 1044 1044 1044 Kans G&E 44s 80... 105 105 105 Keith's 6s 46 _ 82 82 82 Laclede G 5 4s 63 _ 54', 544 f544 Laclede G 64s 60 D.. 534 534 634 Laclede Gas 6s 42 B.. 474 474 474 LautaroNit 1975s_ 264 264 26s, Leh Val Coal 6s 74... 22 22 22 Leh V Peon 4s 2003.. 174 164 164 Lex A E Ry 5s 65 .. 1084 108’, 108’, Ligg A Myers 5s 51 . 1214 1214 1214 Liquid Carbon 4s 47.. 1054 105’, 1054 I,oew's 3 4s 46_ 96', 96', 964 Lorlllard 7s 44_ 1264 1264 126*. La A Ark 5s 69 .. 68’, 684 684 Loulsv G&E 3lgs 66 . 102', 102'. 1024 LAN unit 4S40 _ 100 994 994 LAN 4 H* 2003 _ 80>, 804 SO', LA N 6s 2003 B .. 844 844 *44 LAN Atl K&C41 85. 103 103 103 LA N SAN Ala 5s 63. 110 110 110 McKessARob 5H» 50 99 984 99 Manati Sugar 4a 57... 254 25 25 Manhat Ry 4s 90 ct 20 20 20 Marion St Shov 6s 47. 654 654 614 Market St Ry 7s 88 88 88 Mich Cent 3 4s 52_ 88 88 88 Mil El KAL 6s 61 .. 100 100 100 Mil El R A S L6ST1-. 100 100 100 Mil Spa* N W 4147. 14 13’, 14 MStPISSM cn 4s 38 10 94 94 MStP&SSM 6s 38 gtd. 104 104 104 Mo K AT 4s 62 B_ 314 314 314 Mo K A T 4 Vis 78_ 314 314 314 Mo K AT 5s 62 A_ 324 324 324 Mo K A T adj 6a (7_ 16 15 15 Mo Pac 4s 76 ....... 54 54 5’, Mo Pac 6s 77 F_ 174 174 174 Mo Pac 6s 78 G_ 174 174 174 Mo Pac 5s 80 H_ 174 174 174 Mo Pac 6s 811_ 174 174 174 MoPac6Vis49 _ 4 3”, 4 Monong Pub S 44s 60 1004 1004 1004 Mont Pwr 3 84s 66 884 884 884 Morris A Es 3 Vis 2000 56 56 56 i>au L'airy a "*i» 01 ww ar'i as Natl Steel 4a 65 . 105% 105% 105% New E TAT 4%S 61 121% 121% 121% New ET&T lat 6s 62 124 124 124 New Orl GNR 5s 83 . 45 45 45 New Orl T&M 6s 54 B 26 26 26 New Orl T&M 5s 56 C 26 26 26 New Orl T&M 6%s 54 26 25% 26 N Y Central 8%s 62.. 65% 54% 54% NY Central 3 %s 97_ 78 78 78 N Y Cent con 4a 98 .. 67% 67 57 N Y Cent rf 4%s 2013 43 42% 43 N Y Crf 4%s 2013 n.. 43 42% 42% N Y Cent rf 6s 2013.. 47 46% 47 NY C L. Sh 3 %s 98_ 62% »2% 62% NYC&St L, 4%a 78 ... 34 32% 32% NYCASt L. 6%s 74 A. 39% 39 39 NY Conn lat 4 %s 63. 102 100 100% NY Dock 5a 38 _ 98% 98% 98% NY Dock 5s 38 ct ... 47 47 47 NY Edison 8 %s 65 104 104 104 NY Edls ref 3%s 66.. 103% 103% 103% NY G El HAP 6s 48.. 122% 122% 122% NY KH AH 48 57 . 6% 6% 6% NY NH & H cv 6s 48. 16% 16% 16% NY O&W gen 4s 56... 5 5 5 NY O&W ref 4s *8... 7 7 7 NY A Rich G 6s 51... 73 71 73 N Y Tel 3%s 67 ... 105% 105% 105% N Y Tel sen 4 %s 39.. 105% 105% 105% NY W&B 4 %s 46 . 4% 4% 4% Niag Falls P 3 %S 66. 106 105% 105% Niag LAO 5s 65. 107% 107% 107% Norf So 6s 61 10 10 10 Norf So 6s 61 ct_ 10% 10% 610% Norf A W 1st 4s 98_115 115 115 North Am Co 6s 61... 100% 100% 100% North Am Ed 5s 67 A 99% 99% 99% North Am Ed 6%s 63. 103% 103% 103% North Pao gn 3a 2047 50% 60 60 North Pae 4a 97 ... 77% 76% 77 Nor’n Pae 4%a 2047.. 50 50 50 Nor’n Pae 6s 2047 D_ 62 62 62 North Pae 6a 2047__ 61% (60% 60% Ohio Edison 3 %s 72- 96 96 96 Ohio Edison 4s 66_101% 100% 100% Ohio Edison 4a 67 ...101 101 101 OklaGasA El 4s 48.. 97% 97% 97% Ont Pwr Niag 6s 43 . 112% 112% 112% Oreg RR&N 48 46 .. 103% 103% 103% Oreg Sh L. 5s 46 gtd.. 111% 111 111% Otec W RR 4s 61 ... 96% 96 96% Otis Steel 4%s 62 ... 64V, 64% 64% Pae Gas A El 3%s 66 101% 101 101% Pac G A E 3%s 61 . 105 104% 105 Pac G A E 4s 64 108% 108% 108% Pac TAT rf 8 %s 66 B 105 104% 104% Pao TAT 3 % s 66 C 104% 104 104 Paducah A 1114 %s 55 103 103 103 Param t Pic 3%e 47 . 64% 62% 64% Paramount Pic 6a 65. 85% 85 85% Penn Co 4s 63.. _ 86% 85% 86% Penn PA L 4%s81_ 97 96% 96% Penn RR 114 a 62_ 71% 71% 71% Penn RR 8%a 70_ 82 '82 82 Penn RR 4a 48-- 103% 103% 103% Penn RR41iitl.~~ 89 89 89 Hlch. Lev. OIon. PennRR4Ha84_ 88H 88H 88H Penn RR gn 4 He 66 . 92*4 92V4 92H Penn RR deb 4 He 70. 7BH 76H 76H Penn RR gen Ea 68... 101H 101 101 Pere Marq Be 66. B8 B7H 67H Phelps Dodge 8 Hi 61 104H 104 104V. Phlla B&W 4i 48 .. 10644 106V* 106V. Phlla B&W 4He 81D. 100 99H 100 Phlla Co 6i 67 _ 83** 83 83 Phlla Elec 3 Hi 67 . 107V* 106** 106H Phlla & RC&P6i 78. 12*» 12V. 124. Phlla & R CA1 6s 49.. 4H 4H 4H Philippine Ry 4s 37.. 17V* 16V* 17V* Plllsbury F M 6s 43 .. 109H 109V4 109H PCC&St L, 4Hs 40 A 101H 101H 101H FCC&St L 4H* 77 92 92 92 Pltts&W Va 4 Ha 60 C 36H 36H 3614 Port Gen El 4 Ha 60 . 66H B4H 64H Postal Tel * C Ss 63 .. 12*t 12H 12*4 Purity Baking 6a 48 . 83 82H 82H Reading R 4Ha 97 A 71 70H 70H Rem-Rand 4 V.a 66ww 94 91H 94 Republic Stl 4 H» 66. 79** 79*. 79*« Republic Stl 4 Ha 61. 76H 76H 76H Republic Stl 6Hs 64. 101H 101H 101H Revere Cop 4Ha 66 . 95H 9BH 9SH Rich Term Ry 6s 62.. 104H 104 104 Rio G W col 4s 49 A. 13H 13v, 13H Roch G&E 6i 62 E_ 108 107H 108 oaieway stores is 47 101% 101% 101% Saguenay Pw 4 »4s 66 100% 100% 100% St L1M&S R&G 4s 33. 46 46 46 StL-San Fr 4s 60 A__ 9% 9% 9% StL-San Fr 4%s 789 8% 9 StL-S F 4%s 73 ct st. 7% 7% 7% St L S F 5s 50 B ct... 8% 8% 8% St L S W rf 5s 90 . 10 9% 9% St L S W 1st ter 5s 62 16% 16% 16% St P Un Dep rf 5s 72 . 109% 109% 109*. San An PSvc 6s 52 .. 109% 109% 109% Santa Fe P&P 5s 42 . 104 104 104 Scioto V’al&NE 4s 89 . 109% 109% 109% Seabd A L 4s 50 stp._ 10% 10% 10% Seabd A L rf 4s 59_ 4% 4% 4% Seabd A L 6s 45 A_ 6% 6% 6', Seabd A L «s 45 ct 6% 6% 6% Seabd A-Fl 6s 35 A ct 3% 3% 3% Shell Un deb 3 %s 51. 100% 100 100% Sileian Am 7s 41 _ 61 61 64 Simmons Co 4s 52 .. 83%. 83 83% So Bell T&T 3>4s 62 . 103% 103% 103% Southn Cal Gas 4s 65. 107% 107% 107% Southn Cal G 4 %s 61. 106 106 106 So Pac 3 *1 s 46 _ 54% 54% 54% So Pac col 4s 49_ 41 40% 40% So Tac ref 4s 55_... 64 64 64 So Pac 4 %s 68_ 38% 38 38 So Pac 4%s 69_ 37% 36% 36% So Pac 4%s 81_ 38 36% 36% So Pac Oreg 4%s 77.. 48% 48% 48% So Pac S F Ter 4s 60.. 84 84 84 So Ry gen 4s 56 A_ 32% 32% 32% So Ry 6s 94 _ 55% 55% 55% SoRy gen 6s 56__ 38 38 38 So Ry 6%s 56 _ 39 38% 38% I Stand Oil N J 3s 61 _. 101% 101% 101% ; Studebaker cv 6s 45 .. 61% 61% 61% i Swift & Co 3 %s 50... 106% 106% 106% Tenn C&C 6s 44 _ 97% 97% 97% Term As Et L 4S 53.. 100% 100% 100% ; 1'exas Corp 3 %s 51 . 105% 105% 105% Texas & Pac 5s 77 B .. 70 70 70 Texas & Pac 5s 79 C 71 70% 71 Tex & Pac 1st 6s 2000 108 108 108 Third Av ret 4s 60 . 27 27 27 Tide Wat OH 3%s 52 . 101% 101% 101% Un Elec(Mo)34as 62 107 106% 107 Un Oil Calif 3%s 52.. 107% 107% 107% Un Oil Calif 6s 42 A . 116% 116% 116% I Un Pac rf 4s 2008 .. 99% 99 99% | United Biscuit os 50. 105% 105*. 105*. ! United Drug 5s 53 ._ 77% 75% 75% ! Utd RysSt L 4s 34... 21 21 21 i US Rubber 5s 47_ 105|i 105H lOoJt UtahL&T5s 44 .... 78% 78% 78% Utah Pwr & Lt 5s 44. 82% 82 82 Util P & L 5s 69 _ 49% 49 49 Util P& L 5%s 47_ 49 49 49 1 Va E & P 4, 55 A_J08 108 108 Va P.y 1st 3%s 66_101% 101% 101% Wabash 4 %s 78 C_ 7% 7% 7% Wabash 2d 5s 39 24 24 24 Walker H&S «%s 45 . 102% 102% 102% I Walworth 4s 65 » 62 62 62 I Warner Bros cv 6s 39 69% 69 69 Warren Br cv 6s 41 .. 32% 32% 32% Wash Term 3 %s 45 . 104 104 104 Wstchr Lt gn 3 %s 67 101 100% 101 Westchester Ls os 50 121% 121% 121% West Penn P 3 %s 66. 107% 107% 107% West Aid 1st «s 52 74% 74% 74% Westn N Y&P gn 4s 43 99% 99 99% i West Pac 5s 46 A as.. 16 16 16 W’estUn4%s60_ 60 60 60 W est Un 6s 61 _ 60% 59 69% West Union 6s 60_ 57% 56% 56% Wheel Steel 4 %s 66 . 89*. 89% 89% Wilson & Co 4s56 100 99% 100 Wls Cent 1st *n 4s 43. 10% 10% 10% r’ngstn S * T 4s61... 98% 98% 98% —- — a HOSPITALS INDORSE GROUP INSURANCE 3-Cents-a-Day Plan of New York Is Approved by American Association. Br the Associated Press NEW YORK, April 19 —The Ameri can Hospital Association, represent ing 7.000 hospitals in the United States and Canada, yesterday ap proved New York's 3-cents-a-dav plan for group hospital care at a luncheon meeting of the Associated Hospital Service. The Approved Hospital Service plans have more than 1,600.000 members. More than half are residents of New’ York State. Dr. C. Rufus Rorem of Chicago, director of the Committee on Hos pital Service of the American Hospital Association, sent his congratulations to Karl Ellers, president of the Asso ciated Hospital Service. . “Hospital care insurance," said the message, “is not a panacea for the public or the hospitals, but it does help the patient by paying his hos pital bill, the doctor by increasing the chance of collecting a fee, the tax payer by removing some people from tax-supported to private hospitals, the business man by decreasing the need for philanthropy and the general pub lic by removing the economic barrier to the receipt of hospital care.’’ TE-•- - B.&O. LOADINGS GAIN MODERATELY IN WEEK Special Dispatch to Tha Star. BALTIMORE. April 19—Carload ings on the Baltimore & Ohio Rail road for the week ended April 16, 1938, totaled 35,747, comprising 23,062 cars loaded on line and 12,685 re ceived from connections. For the same week last year the total was 53,011, consisting of 34,310 cars loaded on line and 18,701 re ceived from connections, while, for the same week of the year, 1930, total loads were 66.216, including 44,101 cars loaded on line and 22,115 received from connections. Last week’s loadings were 1,636 over the previous week of this year (the week ended April 9), when the total was 34,384, of which 22,499 cars were loaded on line and 11,885 received from connections. NEW YORK PRODUCE. NEW YORK. April 19 'AV—Etta, 38.161: firm. Mixed colors: Special packs. 20'»-21J4; standards. 20V«: firsts. I8’/«-Vi; seconds. 17‘/a-18; mediums. 17*6; dirties. No. 1. 17V«: average checks. 161k: storage packed firsts. 193«-20. Butter. 1,303,639; weak. Creamery: Higher than extra 27-2W. extra <92 acorei. 263k: firsts '88-91!. 23-26’/«; sec onds 184-87'. 20(6-22. Cheese. 345.616; quiet: prices un changed. Dressed poultry generally steady. Fresh ducks. 14 la-16: frozen ducks. 17: other fresh and frozen prices unchanged. Live poultry, by freight, weak. Fowl, colored. 19-22; mostly 19*6-21: Leghorn. 171-a-lB: mostly 18-19: old roosters. 12 14: mostly 12. Turkeys, hens. 25; Toms, By express, weak: broilers. Rocks 23 26. mostly 25-26; crosses. 21-25: mostly 22-25; Leghorn. 21-22: mostly 22. Fowl, colored. 20-22, mostly 21-22; Lerhorn, 20. MONTREAL SILVER. MONTREAL April 19 tureg opened 18 higher to 41.26; April. 41.30 bid. First 47 Companies Show Quarter’s Net 29 Per Cent Below 1937. B$ the Associated Press. NEW YORK, April 18.—Earnings of the first 47 companies issuing state ments for the quarter ended March 31 show a decline of 29 per cent com pared with the opening three months of 1937. Net Income reported by this group totaled $55,308,000, against $77,264,000 in the same quarter a year ago. This relatively good showing, how ever, was the result largely of the inclusion of one report, that of the huge American Telephone & Tele graph Co., which accounts for more than two-thirds of the total. Eliminating this statement from the tabulation, profits of the remaining 46 concerns plunged 51 per cent from the first-quarter levels a year ago. Only seven of the 47 reports had higher earnings this year than last, while 11 firms operated in the red. All save one were in the black last year. Washington Produce Butler—9() score 1-pound prints. 27 V tub 27; -pound prints. 28; 92 score, 1-pound prints, 29 14-oound prints. 30 Meats—choice beef i; calves. 18; lambs. 22 veal. 18. sow*, 19: fresh pork. 2d; t>ork loin. 2o fresn ham- 22 large shinned ham 24: small smoked ham. 20; smoked skinned ham. 18. smoked skinned bacon 21 sliced bacon, do. piece bacon, 27 compound. 11: lard. 10 V Live stock—Pigs 140-100 pound*. 7 50 a, do, light pus. 140-1 oo pounds. 7.50* * 8o medium 1H0-210 pounds. 7 75*8 on heavte*. 210-240 pounds, 7 50*7.80; 250 doo pounds 7.25*7.00; sows 5 50*0.00; stats 5.0o down calves. 10.00*10.50 Prices paid shippers—net fob Wash ington. By the United States Bureau of Agricultural Economics EGGS—Marker barely steady under lib eral supplier Top prices of ungraded cur rent receipts cent lower Government graded and dated eges Whites. U S. extra* large 2d. U S extra* medium*. 18 u S. standards, large 19V U 6. standard'- medium* 1H1 v Nearby un graded eggs Current receipts. 17 to 17’a. white* ]« tr> 18V LIVE POULTRY—Market continues to lark strength Bulk of purchases at un changed prices with some l cent lower than quoted price range Fowl Colored. I hravy. 20 to 22; No 2. 15 to 10; Leg horns. 15 to 10; roosters. 12 to Id. Chick , ens Virginia Rocks, broilers 2 pounds I *nd less 22 to 2d: fryers 22 to 2d: roast ers 2d to 24 No 2s. 15 to 10. Dela ! ware Rock* and crosses broilers. 2 pounds and less. 22 to 2d fryers. 22 to 2d. roast j ers 2d to 24 No. 2 15 to 10 mixed | colored fryers. ]8 to 2o Leghorns, broilers, . \'i pounds and less 18: ia4 pounds and up 20 to 21 Old turkeys, hens. 23 to , 25. toms 20 to 23. Fruit* and Vegetable*. Sales In large lots by original receivers up to 8 a m. today APPLES—-Relief, one Maryland arrived, one unbroken car on track Commercial, no carlot arrivals; no cars on track. Bushel baskets. U S. No. 1 supplies lib eral market, sliehtly stronger Maryland Pennsylvania Virginia and West Vir ginia Staymans 2'4-lnch minimum. 40 •V» 2'2-inch minimum. 65-75; 234-lnch minimum 85-90 3-meh minimum. 90 l.oo. all sizes, scalded. 25-50 Yorks. 2'4 lnch mirimum. 40. 2’j-inch minimum 50 60 234-inch minimum 60-65; scalded, all sizes. 25-35 Romes. lU-inch minimum. 40-50 2'a-inch minimum. 60-65 234 inch minimum 75-85 3-mch minimum. 90-1.00; B*ack Twigs. 2,a-inch minimum 60-65: 214-mch minimum. 65-75; all sizes scalded 25-35. Delicious. 2'4-mch | minimum 65-75. 2'a-inch minimum 80 po ■ol.mch minimum, l no-i.ln 3-inch | minimum. 1 25-1 35 Golden Delicious. ! 2'4-mch minimum. 50-60: 2l3-inch mini mum 75-85. 234-inch minimum. PO-I.OO: i Lourys 2'4-inch minimum 50 2'2-inch minimum. 65-75 234-mch minimum. 85 Po. various varieties 50-75 as to size. Boxes and cartons. Pennsyhania and Vir ginia. combination extra fancy and fancy. Delicious 1505-160s. 1 oo-l.io. 125s 138s. 1.10-1.25 100s-1138. 1.35-1.50: 88s-P6s. 1.75-2 00 fancy Golden De licious. 150s-160s 75-85. 125*-i38s. 86 Po ir.0s-Jl3s. PO-1.25 8n*-96s 1.35 1.50: Romes 125s-138* 85-PO; ]no*-ll3s. 1 00-1,10. 72s-96s. 1.35-1 65. Paragons, to Os - 138s 100-125 80S-PHS. 1.25-1.50. C grade Paragons 75-PO U 8 No. 1. Lowrvs. 112s-160s 90-1.00. P2s-P6s 1 25 1.36 Pippms. 1 12s-160s. 90-1.25: P6s. 1 25-1 35; Northern Spys. 112s-160g. 75 1.00 72s-P6s. 1.00-1 25 BROCCOLI—Correction yesterdays re port should have read California crates. 2 25-2.50. Texas, crate* 2.00-2.25. To day. no carlot arrivals no cars on track. Supplies light; demand slow market steady California crates. 2.25-2.50. ASPARAGUS—No carlot arrivals one broken car on track. Market weaker South Carolina pvramid crates dozen bunches very large sizt*. 3.oo-3 50. large size 2.00-2.75 medium size. 2.00-2 50 small size 75-1.26 CABBAGE—No carlot arrivals, one bro ken car on track South Carolina. Pa bushel hampers, domestic round type, truck receipts 5o-6o. CELERY—One Florida arrived: four bro ken and one unbroken cars on track; one car diverted Market slightly weaker. Florida Florida *star.dard crates indi vidually washed 3-6 dozen. 2.00-2.75. LETTUCE—No carlot arrivals; one car diverted; two broken cars on track Mar ket slightly sponger. Arizona Western crates. Iceberg type 7.50-8 50; 6-doien. 6.00-7 On 90s. 6 00-6 50 ONIONS—One New York, one Texas ar rived; one broken and one unbroken cars on trap*. Market slightly stronger. Tex as 50-lb. sacks Crystal White Wax. U. S. commeiCial 2.00-2.25: New York *60-lb. sacks yellows. U S. No. 1. 1 35-1.50. PEAS—No carlot arrivals one broken car o’ track Market weaker. South Carolina bushel hampers. 1.50. STRAWBERRIES—Truck receipts mod erate; market weaker. North Carolina 24 ouart crates, various varieties. 2.00-3.50, mostly 2.50-3.00 _ . POTATOES—Old stock One Idaho, three Maine arrived; thre* broken and | 11 unbroken cars on track New stock; Two Florida arrived two cars diverted. ' four broken and two unbroken cars on : trae,.. O’d stock Maine 100-lb sacks. Green Mountains. U. S. No. 1. market ; steady. 1.60-1 65; New York, market slight ; !v stronger. 1 no-lb. sacks round whites. ■ U. S No. 1. 1 40-1.50; Pennsyhania mir ke* steady 1 oo-lb. sacks round whites. U. S No 1. 1.25. New stock, market steady. Florida, bushel crates Kntahdins. U. S. No. J. 1.15-1.25; Bliss Triumphs, U 8. No 1. 1.40-1.50; double-head barrels Spaulding Tose. U 8. No. 1. 4 00-4.25. SWEET POTATOES—No carlot arrivals; no cars on track. Market slightly weaker. North Carolina, bushel baskets. Porto Ricans. 75-1.00. Eastern Shore, Mary land. bushel baskets, Jersey type. 75-90. Tomato Prices Steady. TOMATOES—Market steady. One Flor ida arrived; two broken and four un broken cars on track. Florida, lua boxes, ripes and turning, wrapped. 0xH. 1.50 1.75; few lower, 0x7, 1.00-1.50; 1X1. ,5 1.00. MIXED VEGETABLES—No carlot ar rivals: four broken cars on track. SNAP BEANS—Market slightly weaker. No carlot arrivals; no cars on track. Florida, bushel hampers, green, flat type. 1.00-1.25. round, stringless. L.00-1.50., PEPPERS—Market about steady. Flor ida. l'i-bushel crates. California Wonders, medium to large size. 1.25-1.75 SQUASH—Truck receipts light: supplies light; demand moderate; market slightly weaker. Florida bushel hampers, white, wrapped. 1.00-1.25: yellow. 1.25-1.50. LIMA BEANS—No carlot arrivals; no cars on track. Market about steady; sup plies light. Florida, bushel hampers. 2.50. EGGPLANT—Truck receipts moderate: supplies moderate; demand light: market about steady. Florida, l'i-bushel cratgs, CUCUMBERS—Truck receipts light: supplies light; demand moderate; market steady. Florida, bushel baskets, medium size. 1.75-2.00. CARROTS—One Arizona arrived: two broken and one unbroken cars on track. Supplies light: demand moderate: mar ket steady. California. Western crates, bunched. 2.75-2.90. CAULIFLOWER—No carlot arrivals: live broken cars on track. Supplies mod erate; demand moderate: market steady. California, crates. 1.75-1.05. „ __ BEETS—Texas, one-half crates. 1.00 1.25. WATERMELONS—Cuba. Tom Watsons, 1.00- 1.25. according to size. AVOCADOS—California, flat eratas. 1.75- 2.50 , , ORANGES—No carlot arrivals: four broken and four unbroken cars on track. Relief—Two Florida arrived; one broken and two unbroken cars on track. Florida, two-bushel crates. 2.00-2.75: standard crates. 1.75-2.50. as to grade and siae. GRAPEFRUIT—No carlot arrivals; one unbroken car on track. Florida, two bushel crates. 1.75-2.50: standard crates. 1.75- 2.25 as to grade and size. LEMONS—California, boxes 4.00-5.25. HONEYDEWS—Chile, crates. Jumbos, 2.00- 2.25: standards 1.50-1.75. PINEAPPLES—Puerto Rico, crates. 3.00 3.50 GRAPES—Argentina. 20-pound lugs. 2.00- 2.25. SPANISH MELONS—Chile, crates. 1.00 1.25. BANANAS—Five cars arrived: two broken and two unbroken cars on track. Crucible Steel Co. of America.— Company’s plants at Harrison and Jersey City, N. J., closed by strikes since March 14, will reopen as a re sult of settlement of the differences with Steel Workers’ Qrganisinc Com mittee. M Lull Continues In Steel Demand, Output Reduced By the Associated Press. CLEVELAND, April 19.—Daily Metal Trade today says: Business in finished steel products is developing in discouraging volume. Current demand is not equal to that experienced last month and even shipments have fallen oil. This is being reflected in lower ingot operating rates at important produc tion centers. Lack of active auto motive demand is being felt keenly. Consumers’ stock piles are low, in many Instances having been virtually depleted, but this has not spurred for ward covering, buying being confined to small, prompt shipment tonnages. PIE DROP CUTS FARimOME Staples 13 to 50 Per Cent Lower Than at This Time Jear Ago. Bs the Associated Press, CHICAGO, April 19 —With the start of the 1938 rycle of farm harvests only a month away, market prices of major agricultural commodities today arp 13 to 50 per cent less than a year ago and 29 to 57 per cent below recovery highs. • However, prices are 33 to 177 per cent higher than the lows recorded during 1932 and 1933. Farmers have larger quantities of produce to sell compared with a year ago. but the increased supply will not fully offset the severe price drop that has accompanied the business slump, analysis of statistics in Chicago com modity markets disclosed. Conse quently, Government statisticians have forecast a drop in farm income com pared with the eight-year high record of 1937. Farmers who begin hRrvPst of win ter wheat in the Southwest late next month are expected to take the biggest crop in seven years from thPir fields, but the price of wheat is 38 per cent less than a year ago and 42 per cent below the recovery peak. Farmers have 50.000.000 bushels more whpat on their farms than a year ago and the current prospect of winter wheat pro duction is 6 per cent larger than last year's crop. Farm stocks of corn are 600.000 000 bushels largpr than a year ago. but the price is 50 per cent lower. The Na tion's hog population at the first of the year was 3 per cent larger, but the price now’ is 14 per cent less than in April, 1937. and 34 per cent below the recovery peak of August last year. Butter has dropped 13 per cent compared with a year ago. steers 29 per cent, eggs 23 per cent, oats 39 per cent, rye 44 per cent and cotton 31 per cent. The following table of approximate price* in Chicago markets shows what has happened to farm commodity quotations: Year Rer y Dec 31. Current. agn oeBk 1017. Hog* _ <>•> *10 45 51.17.5 $5*10 Corn . .fio 1.27 1 4<i (V Butter _ .26 In It 1" Wheat R4 1.35 1 45 mi Cotton *.!)« ll.no 14 0" 5 14 Cattle . 10 on 14 25 18 nn lino ***s IT .22 .33 .25 Oats .30 40 ,50 11 Rye - . .61 1.10 1.32 .72 Figures IT hat They Mean By A. A. PATTON. Assoculed Press Statistician. NEW’ YORK. April 19—The year old slump in stock prices, wiping out more than half the value of shares listed on the New York Stock Ex change as of March. 1937, affected quotations in some industries substan tially more than others. Stockholders of concerns in the leather business, for example, have seen prices of their junior equities chopped 72 per cent—measured by the Standard Statistics Co. stock price Index—from the peak a year ago. Holders of gold mining shares, on the other hand, have lost only 8 per cent in the face value of investments. This bounds the extremes. Not a single industry today boasts higher stock values than last year, although a few months ago the ticker recorded higher quotations for gold mining : companies than was the case in 1937. Cataloguing percentage changes in i the last 12 months, based on the statistical organization's indexes, shows heavy industry to have been much harder hit by the deflation than those groups manufacturing goods for gen eral consumer use. i Register Greater Losses. The six industries registering the sharpest losses during the slump were mostly capital goods producers. After leather came railroads, with a 68 per cent drop; paper producers, down 67 per cent; tires, 66 per cent; rail equip ment and steel, 64 per cent; copper, motors and air transportation, 62 per cent. Financial quarters explain the greater-than-average setback as the result partly of overoptimistic specu lation last spring and partly the fact that, having passed the crest, demand for capital goods dried up almost com pletely. This reversed the earnings picture, replacing black ink with red in many cases. At the other end of the roster, among the industries suffering smallest losses, were producers of staples in steady demand by the average individ ual, lit gold is excepted. Stocks in cigarette manufacturing firms, for instance, were down 30 per cent; textile fabricators dipped one third: package food processors 36 per cent and shoemakers 39 per cent. Holding Finns Slump. Utility operating companies showed relatively moderate declines, with a dip of 40 per cent. Holding concerns, on the other hand, dropped 55 per cent from the peak last year. The diver gence, analysts point out, was caused largely by the leverage factor inherent in a holding company, based as it is on equities of other concerns, and having either bonds or preferred stocks with a prior claim on earnings stand ing ahead of the common stock. Shares in firms dealing principally with the Nation’s farmers recorded almost identical declines from the highs, mall order houses being knocked down 51 per cent and agricultural ma chinery manufacturers losing 53 per cent. Alrplsne manufacturing, favored by the Government’s rearmament pro gram, receded 45 per cent. This was substantially less than the 62 per cent loss in air transport stocks. SOUTHERN SHOWS MARCHDEFICIT $224,722 Loss Compares With $2,388,952 Net in 1937 Month. By tbf Associated Press. NEW YORK, April 19 —Southern Pacific Railway Co., one of the first major roads to report for March, showed a net operating deficit for the month of $224,722, compared with net operating income of $2,388,952 in the comparable 1937 month. Gross in come for the month declined to $15, 749,063 from $19,560,188 last year. Kansu City Southern. Net operating Income of the Kan sas City Southern Railway In March amounted to $239,401, compared with $272,739 in March, last year. Erie Railroad. Erie Railroad's first quarter re sulted in a net railway operating loss of $269,208, compared with a 1937 profit of $4,194,858, the company dis closed. March net operating income was $16,865, against $1,893,545 in March, 1937. These figures are after taxes. Union Pacific. Union Pacific Railroad reported net profit for February while most other ! roads were operating "in tne red.” February net income for the system I was $142 517 after taxes and charges, j compared with net loss of $146,580 i in the like 1937 month. Results reported by other roads ln | eluded: F'-h imb, Ffb mr, _ , Npt L/)sv Np* Loss Bajtimorp Si Ohio $3 4.’4N.OH5 SouthPin Pacific f»4‘: ?£j 3jj ]f>4 Paul _ 2 192 41? lftsft.347 Seaboard Air Line 54RS41 "51 3«4 Missouri-Kan -Tex. ft 5 a «.V! 2.S8 704 Chi. Great. Western 32ft 02R 2°9 744 INSURANCE STOCKS Banker'*''conference!'Inc.: ^ . . _ _ . B:d. Asked Aetna Cas '.!»> 7P $7 Aetna Tns < 1 «n) 4 i i2 4.71,, Aetna Life Ma> om *4 2 Am Equit < l » " 20 ;>iu Am Tns Nwk M2a)_ 10’2 {2 Am Re;ns M.Hfii ofi,4 •\0 34 Am Reserve * 1 a > ’ _ 21 22'2 Am Surety (21 m _ __ :;?3, 7d34 Automobile (1 j. t . Z .II. 243, °»v4 Balt Amer ( ?')r> _ 5'4 ’^1. i Carolina M.7ni _ 20 uu ; City of N Y M 2(>* f5?, Cor.n Gen L fe » ft0> ■'*^3. -mi Contin Cas ' 1 20 > ->7 1 Fid A Dep '4a • __ * 04 Firem’* Nwk (.30> _ __ 7’ s?3 Frank Fire Me1 . . _ *w2 Gen Reinsur <2> 2f»3« .70 Glen Falls M .80» _ 3m 4 3c ’ 4 G’obe A- Rep ( 12) _ . in3, l*'-4 Globe A Rut Great Amer Mat . _ . 7112 °n Hanover M.«0» _ 2 714 "’■»54 Hartford Fire i7) . _ ZI . IT <S43* 6«34 j Home Fire Sec . _. i»3 252 Home Ins Mat ___ _ 24’2 ‘'d Homes’ead Mt _I_I ]13, l.V4 ; Knickerbocker < SO) xd 0*4 11 >4 Lincoln Fire 134 . «-»i2 Maryl-nd Cas __ 3 4 Mass Bond f 312» __ _ 301 a 44 Merc Ins Pr < .72) _ 4 fl Nat! Fire "3) _ 51s, 53*. Natl Liberty ( 20a' _ _ 8'3 7'2 N Hampshire MdO) .7-',. .so1* N Y Fire < «f*a > __ 17’ 15 Nor River M» __ _ 2.7*4 2434 Phoenix >2a _ op 71 Prov Wash ' 1) 2«34 .7034 Revere <p» in '120*) . J7U 1?) Rh M Ins < 40) _ 4 5 Rossia Ins _ _ 434 53. S* Paul Fire ■«> 1Tg ; «5 Springfield <4!2a)-__ __ _ i(»4*a in? 2 Sun Life M.v _ _ 405 455 Travelers Mflt . _ __ 3s* 3&s 1 U S Fid A* G _ 12 1.7 IT S Fire (2' .44 4fi Westchester (120a' xd 28>r 28 a Also ex*ra or extras e Declared or paid so far this year. C Paid last year --• U. S. TREASURY NOTES. NEW YORK Anril IP F —-Price* quoted in dollar* and thirry-seconds: _ Approx Rate. Mo. Yr Bd Askpd yield - . June 193s _101 lfi 101 is 3’ i Sept. 1P3S _ _ 101.-lfi 101 2S | l’i Dec. 1P3S_1014 101 fi 'I ! l'» Mar 1P3P_101 13 101 15 1 •?*■ June 1P3P_ 103 i4 102 l« 1*» Sept. 1P3P 101 2S 10130 l3. Dec.. I93P_ 10129 10131 IS 1*. Mar. 1940_101.13 101.15 32 l'j June, 194o_. _ 102 10 102 j” 39 Ih Dec.. 1940 . - 10? ]0 102 12 fin l'j Mar.. 1P41_ 102 11 i02 13 fifi l*s June 1941- __ 102 1 102 3 70 1'. Dec.. 1941 1012S 10130 71 l3. Mar. 1942 _103 lfi 1031s s' 2 Sept.. 1942. . 104 23 104 25 S', l3. Dec. 1,042 10.3 24 103.20 .90 -• ODD-LOT DEALINGS. Br the Associated Press. The Securities Commission reported to day these 'ransactions by customers with odd-lot dealers or specialists or the jfew York Stock Exchange for April l* 7512 purchases, involving 1«« P70 shares. ,5.581 ! sales, involving 182.852 shares ME REGULATION Co-ordination of Federal and State Activities Declared Vital. % By the Afsociated Press. NEW YORK. April 19—Henry L. Doherty, president of Cities Service Co., in his annual report to stockhold ers distributed yesterday, said some “effpctive way must be found" to co ordinate the regulatory activities of Federal and State agencies “or many business enterprises will be seriously impaired or destroyed.” "The wave of reform legislation which has swept the country during the last five years," Doherty said, "has brought with it a mass of complicated and, in many cases, a duplication of Stat£ and Federal regulation. The enormous cost of this increased regu lation has greatly impaired the earn ing power of many companies. No matter how meritorious or necessary proper regulation of business may be, an excess of regulation places undue burdens upon business, and the cost thereof must be borne by consumers and investors alike. "One of the most serious problems facing Government today has to do i with simplification of laws and regu | lations, to the end that worth,'' busi | ness enterprise may resume its de velopment of the resources of the country. Such resumption of normal development alone will cure the prob lem of unemployment and restore prosperity." Doherty said the “immediate busi ness outlook at this time Is very un satisfactory." The report, listed consolidated net income applicable to stocks for 1937 : 39,613,714, against $6,965,496 in 1936. 600 TONS OF LEAD SOLD NEW YORK. April 19 </p,._st Jo-, eph Lead Co reports 75 tons of South east- Missouri pig lead sold vesterd-; at $4.35 per IDO pounds East St, L/r: 400 tons at $4.55 New York and lj > tons at the New York average. l;us'ne«* Recordtffiffl end Equipment \± STEEL * DESKS clhe K'4/“,cotMaYloi*Co.lnc; MILLS BLDG A MEtro. 5846 Property Management ^p^RAN’SFEF the responsible** ill for the management o' yo.r apartment house and resi dential proper? •? *9 0 ;r Property Manacemer.' Departmer.* It's worth ?he modest fee to be free of the recurring problem* B. F. SAUL CO. 525 15th St. Natl'2100 Mortgage Loan* Monthly Payment REAL ESTATE LOANS On Improved Property INTEREST No Renewal! Consult Real Estate Department American Security AND TRUST COMPANY HAIN office: Fifteenth St. and Pennsylvania Ave. Branch Offices 7th and Mass. Ave., N. Seventh and E St., S. W. Eighth and H Sts., N. E. 1140 Fifteenth St., N. W . ttnt CONSTRUCTION LOANS in District of Columbia or nearby Maryland SIX MONTHS TO ONE YEAR INTEREST COMMISSION 1% Upon completion oi building?, these loans may be extended on one of several long term monthly payment plans; or for three or five years, without curtails; interest semi-annually. H. L. Rust Company 1001 FIFTEENTH STREET NATIONAL 8100