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Evening star. [volume] (Washington, D.C.) 1854-1972, April 26, 1938, Image 18

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Contracts Score 68 Per Cent
Gain in March Over
Previous Month.
By EDWARD C. STONE.
The Washington metropolitan area
participated in the March building
upswing which was recorded for the
larger part of the country, according
to the monthly summary prepared by
H. A. Johns, Washington manager of
the Dodge Reports division of the F.
W. Dodge Corp.
Total Washington area contracts
awarded in March moved to the level
of $6,355,000. a good gain of 68 per
cent over the February awards of
$3,799,000. An average building gain
of 91 per cent was found in the 37
Eastern States by the Dodge staff.
Privately financed contracts ac
counted for $5,326,000 of the March
total, far ahead of the February figure,
$3,080,000. The local gain in privately
financed work. 73 per cent, followed
the average gain of 95 per cent, in 37
Eastern States.
In building to be financed from pub
lic funds, the gain here amounted to
43 per cent. March contracts amounted
to $1,029,000. In February public con
tracts were valued at $719,000.
Residential Work Picks Vp.
Residential work in the Washing
ton area moved ahead of February
with strong strides. March contracts
reached the $4,149,000 mark in a 69
per cent advance over February's
$2,445,000. This compares with the
average gain of 98 per cent for Eastern
States.
There was good activity in the non
residential building classification dur
ing March. Contracts were valued at
$1,669,000, a rise of 84 per cent over
February, and in line with the average
of 81 per cent elsewhere.
In the heavy engineering field,
March contracts amounted to $537,000,
a gain of 20 per cent over the $448,000
reported in February. The territory
covered by the Dodge summary in
cludes the District of Columbia. Ar
lington and Fairfax Counties. Va.;
Montgomery and Prince Georges
Counties. Md.
The upturn taken by residential
building contracts, and the stepping
up in non-residential activity, are con
sidered highly encouraging by Mr.
Johns.
New Issues in Sharp Drop.
Reviewing the first quarter of 1938.
the Securities and Exchange Commis
sion reports that a total of $355,819.
000 of new securities became effective,
Including $21,997,000 of securities reg
istered for reserve against the con
version of issues having convertible
features. Excluding these reserved
lssut new securities with estimated
gross proceeds of slightly more than
$338,822,000 became fully effective
during the first quarter of 1938
This total is approximately one
fourth of the $1,297,115,000 registered
during the same period a year earlier,
is somewhat lower than the $356.
066.000 registered during the preceding
three months, and establishes a new
low quarterly figure for the past three
years.
The first quarter of 1938 was marked
by the registrations of many large
sized issues of investment and trading
companies, which totaled SI60.682.090
or 48.1 per cent of all registrations of
securities other than those registered
for reserve against conversion.
The other registrations were chiefly
composed of issues of electric utility
companies, which amounted to $107,
013.000 or 32.1 per cent of the quar
terly total and of issues of manufac
turing companies which totaled $46.
328.000 or 13.9 per cent of the total.
B. & O. Income Declines.
Net railway operating income of the i
Baltimore & Ohio R. R. in March
totaled only $420,978, against $3,241,
532 in March, 1937, it was reported
this noon. This was a decrease of
$2,820,554.
Freight revenues totaled $9,055,517,
a decrease of $5,163,651 from March
a year ago. Passenger revenues were
off more than $31,000, express income
dropped more than 461.000 and all
other operating revenues showed a
decrease of $112,035, the report said.
Operating expenses were substan
tially reduced during the month, being
cut to $8,867,991, a saving of $2,363,
422 over March, 1937.
Reporting for the first quarter, the
road's net railway operating income
showed a deficit of $202,938, or a de
crease of $7,264,892 from last year.
Associates ‘Honor Wilner.
Morton H. Wilner, who, with his
brother Bernard, has been in charge
of the Washington office of the State
Mutual Life Assurance Co., was given
a testimonial luncheon at the May
flower Hotel this noon in advance of
his departure to take charge of the
office in Philadelphia. There was a
record turnout of members of the Dis
trict Life Underwriters’ Association, in
which he had been very active for
years. His work for the association, as
well as his success in insurance circles
here, was lauded by a long lust of
speakers.
Born and reared in Washington, he
was a brilliant athlete in his school
days and is now a member of the Dis
trict bar.
Davies to Address Controllers.
John Davies, controller of Woodward
& Lothrop, will deliver the principal
address tonight before the District of
Columbia Control of the Controllers’
Institute at the Carlton Hotel, dinner
starting at 7:30. "Control as Applied
to Department and Retail Stores” will
be his subject. A round-table discus
sion will follow.
President Thomas J. Groom of the
District Bankers’ Association and
Harry M. Jacobs of the Mosler Safe
Co. will address the Safe Deposit Sec
tion at tonight's meeting in the board
room of the American Security & Trust
Co. A report on the national conven
tion In Philadelphia May 12, 13 and
14 will be made.
Candidates for offices of Washing
ton Chapter. American Institute of
Banking, will be nominated at a meet
ing at headquarters this evening. Del
egates will also be elected for the
Louisville convention.
Today’s Trading on Exchange.
Columbia Country Club 4lis sold at
103 on the Washington Exchange to
day, for a $1,000 bond. Washington
Gas 5s, 1960, were strong at 11594,. on
a $1,500 turnover.
Mergenthaler Linotype was active,
25 shares selling at 22 and 50 more
shares moving at 22*2. Potomac Elec
tric Power 6 per cent preferred came
out at 114.
Otis F. Taber of the Washington
firm of McKnew, Fairfax & Co., was
a Wall Street visitor last week.
United Business Service predicts
steady building Improvement during
the rest of the year.
TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE
By Private Wire Direct, to The Star.
Prey. IP,38 Stock end Seles— Ne»
High. Low Dividend Rate. Add 00. High. Low. Oloee. ehgt
104 64 Adams Express_ 3 84 84 84
2V* 14 Advance Rumley... 2 24 24 24 —4
584 404 Air Reduction (lm). 14 454 434 434-24
134 84 Alaska Jun (,60a)_ 6 10 94 10
14 4 Alleghany- 7 14 14 14
174 64 Alleg *30 ww- 1 84 84 84 — 4
174 5 Alleg pf *40 ww__ l 74 74 74 — 4
94 44 Allen Industries_ 1 64 64 64
1764 124 Allied Ch«m (6)- 2 1414 1414 1414—4
144 84 Allied Mills_ 3 11 104 104 — 4
94 44 Allied Stores_ 10 64 64 64 — 4
614 344 Allls-Chalm (.37 4e) 14 414 404 404 -14
34 14 Amal Leather_ 4 24 2 2 —4
724 57 Amerada (2)_ 1 64 64 64 -3
154 10 Am Bank Note .60s. 3 134 13 13 — yt
55 47 Am Bank Not pf(3) 120s 474 474 474 -4
424 234 Am Brake Shoe ,25e 1 32 32 .32 -14
914 70", Am Can (4) _. 3 85 844 844 -34
274 124 Am Car* Foundry. 4 18 18 18 - 4
60 27 Am Car&F pf 2.506.. 3 33 33 33 -2
174 94 Am Ch&Cable ,25e.. 8 124 124 124
84 44 Am Colortype — 2 64 64 64-4
764 84 Am Crys Sug 75e._ 2 10 10 10 1
44 24 Am Encaustic Til_ 1 34 34 34
44 24 Am & Foreign Pwr. 6 34 34 34 _ 14
2. 4 134 Am & For Pw J7 pf_. , 18 18 18 ‘-14
114 54 Am For Pwr 2d pf .. 6 84 84 84 -4
12 94 Am-HawaiinSSU). 2 94 94 94
44 2 Am Hide & Leather. 2 3 24 24 — 4
^4 Amlcepf (.SOel.— 1 164 154 154 -4
l?4* Am Locomotive- 6 174 164 164 -4
‘44 4o Am Locomot pf_ 1 54 54 S4
25*A,m-V,ach&Metals-. 3 34 34 34 -4
33u 2m »m i,e,aIs - 9 31 304 304 - 4
* 4 Am Power* Light. 28 44 44 44 -4
33 164 AmP&L *5pf.93%lc 6 234 224 23 -4
404 19 AmP&L $6 pf 14k. 7 27 26 27 + 4
144 9 Am Rad* St .60_ 37 13 124 124 - 1
-a " Am Ro,linR Mill ... 11 17 164 I64-4
58 Am Roll M pf 4.50.. 2 704 70 70
Am l!**"1* — 1 164, 104 104 -4
22*‘ Am Shipbuldg (2) .. 10s 264 264 264 -14
5? 4 -3 * Am Sm & Ref 1.25e_ 37 384 374 374 -1
34 4 154 Am Steel Foun .25e. 15 214 214 214 — v
1 «!“ AmfUK Ref Pf (7>- 4 108 1074 1074 _ i‘
14oi\? AmS.TatJnb(1)- 1 lfiT» '64 164 -4
14.1*111 Am Tel & Teleg (9). 3 1284 1284 1284 - 4
‘i r’a, Am Tobacco (5) 4 674 67 67 + 4
1891 4 Am Tobacco! B) (5) 6 704 69 69 -4
1394 130 Am Tobacco pf (6). 1 135 135 135
7 , 34 Am Type Founders. 9 54 51, 54— u
134 6 Am Water Works.. 22 84 8 84 - 4
54 34 Am Woolen _. 1 ’ 44 41. 41
a,4 2'!'» Am \\oolen pf . ... 4 304 30 30 -2
54 4 4 Am Zinc Lead & Sm 3 54 54 54
214 Anaconda Cop ,25e. 119 284 274 274 -14
™ fni Anacon W& Cable 1 35 35 36 -2
18 104 Anchor Hock G.15e 1 154 154 154-4
oL Andes Copper . . 2 114 114 114-2
30 * 20 Arch-Dan-Mid ,50e. 1 244 244 244 -4
O'" 3', Armourdll) . 9 47, 4*t 47>
i004 82 Armour (Del pf (7). 7 90 90 90 -j
39 244 Armstrong (,25e)__ 4 304 30 304 -4
84 4 Asso Dry Goods_ 6 54 54 54 _ 4,
42 224 AtchT*SF(2g).. 5 274 274 274
Atl Refining (1) ... 5 214 214 214 -V*
1°7- 10]'« Atl Refining pf (4). 1 104 104 104 + 4
9', 54 Allas Corp ... 3 71, 7.4, 7*,
43 384 Atlas Corp pf (3).._ 2 394 394 394
‘®» 44 Atlas Tack - 1 54 Si3 5l,
64 3 Auburn Auto_ 1 34 34 344. t,
44 24 Aviation Corp_ 24 34 34 34- 4
li'4 5 Baldwin Loc ct_ 4 74 74 74— 1,.
10 * 4 Balto & Ohio_ 19 54 34 51 ,
134 54 Balto* Ohio pf- 2 64 64 64-1*
Jo, 1?t* tBarber Co - 9 164 164 164 — 4
104 5 Barker Brothers_ 1 71* 74 74
30 214 Barker Bros pf 2.75 170s 244 224 224 -24
164 104 Barnsdall (1) ... 29 134 13', 134— 4
1034 944 Beech-Nut P (4a)... 1 100 100 100 + 14
14 , 8s, Bendix Aviation 10 ID* H4 114 - 4
19 154 Beneficial Ln 45e.. 1 174 174 174—4
404 264 Best* Co (1.525e)_. 5 334 314 314 -24
60 , 40 Bethlehem Steel .. 62 484 464 47 -U*
98 3 ,5 Beth Steel pf (7)_ 2 85V* 85 85 -24
-8 18 Bigelow-Sanford_ 4 19 I84 19 —1
Blaw-Knox- 3 124 124 124-4
*3ol2 Boeinp: Airplane_ 32 27S 27 27 —
30 154 Bohn Alum & Br... 1 204 204 204 - 4
> Borden Co (.70e)... 12 164 164 I64 - 4
2*^2 In’2 Rorg-Warner _ 10 22’* 215* 21*« —
104 54 Bridgeport Brass... 5 8 74 ~74 - u
264 124 Briggs Mfg ... 4 19 184 184 -4
134 54 Bklyn-Man Transit. 2 74 74 74 - 4
37 164 Bklyn-Man T pf (6) 3 204 204 204 -1
41 32 Brown Shoe (3)- 1 331, 331, 334 +14
10 54 Brunswick- Balk 1 74 74 74 -14
94 54 Bucyrus-Erie_ 3 74 74 74
64 34 Budd Mfg - 5 41, 41, 4,2
54 3 Budd Wheel_ 2 34 34 34 - t,
20 134 Bullard Co 25e_ 1 17 17 ]7 _p
204 144 Burr's Add M 30e . 6 154 15', 151,- 4
16 64 Bush T Bid pf ct(r). 70s 144 144 144 + 4
84 54 Butler Bros (.60) 2 64 64 64 - '*
44 24 Butte Copper & Zinc 4 3V* 34 34- 4
244 15t, Calif Pack (1.50a 1 20 20 20
494 45 Calif Tack rf 2.50.. 1 474 4714 471.,+ *,
24 1 Callahan 7i.tc _ 4 14 14 14— 4
104 54 Calumet & Hecla... 6 74 74 74-1,
154 94 Campbell Wy (1)_ 3 ID, 114 114+4
194 124 Canada Dry G Al#._ 9 144 144 144 -4
84 5 Canadian Pacific._ 27 64 64 fii* _ »,
86 634 CaroClin & O (5) .. 40s 644 644 644 4 1*.
974 624 Case (J 1) Co_ 4 75 75 75
554 29-4 Caterpill Trac .60e_. 7 42% 414 414 _ 7,
l*’4 Celanese Corp 6 134 13** 134-4
254 124 Celotex Corp _ 5 204 19 10 _
-8 20 Cent Aguire (1.50). 1 214 214 214-4
44 2 Central Foundry __ 3 34 3 3 _ . !
11 7 Central RR of N J . 1 10 in 10
464 264 C*rro de Pasco(2e)_ 7 344 33 33 —i»,
84 44 Certaln-teed - 2 64 64 64 _ 4
324 174 Certaln-teed pf _ 50s 264 26 26 -14
304 184 Champ Paper & F__ 1 194 19a,
484' 274 Ches Corp (3) 1 324 324 324 + u
384 234 Ches & Ohio 1.50e__ 11 274 264 27 +4
89 80 Che & Ohio pf (4)._ 1 ?n 70 70 -in
14 4 Chi M StP& Ppf(r) 4 14 14 m
lst ”1 Chi & Northwn <r)_ 3 4 4 4 _ u.
124 64 Chi Pneu Tool _ 6 10 10 10 - 4
324 22 Chi Pneu Tcv pf (3) 1 244 244 244 - 4
2'* 14 C R 1 & P 7% pr (r). 1 14 jat j,
54 34Chi!dsCo _ 2 44 44 41,
634 354 Chrysler Corp _ 92 444 424 424 -14
24 104 Clark Equipment... 1 154 154 151 _ 4
112 106 Clev El Illu pf 44.. 10s 109 109 109
264 154 Clev Graph Br(.25e) 1 19 19 19
43 324 Climax Molb .30e .. 1 404 404 404 4. 4
1174111 Cluett Peab pf (7).. 20s 1174 1174 1174 +2*.
114 74 Colgate-Palm-Pete. 9 84 84 84 - 4
96 88 Collins & Aik pf (5) 10s 91 91 91 -1
224 134 Columb B C( A > 40* 2 174 174 1714
94 54 Columbia Gas & El. 60 64 54 54— u
79 60 Col G & El pf A(6)_. 1 6O4 604 6O4 - 4
154 9 Colum Pie vte (1) . 1 12 12 12
34 274 Columb Eic pf 2.75.. 1 314 314 31 _ t4
76 534 Columb Warb (4) . 1 664 664 664 -24
384 23 Commercial Credit. 2 314 31 3] — 4
444 314 Cornel lnv Tr (4) . 10 364 354 364 -lu
99 90 Cornel lnv T pf 4.25. 3 974 97 97 _ 4
10 54 Cornel Solv (.60) . 5 64 64 64 - 4
274 224 Comwltn Edls 1.25., 6 234 234 234 - 4
2 1 Comwlth & South’n. 26 14 14 ja,
424 25 Comw &So pf 1.50k. 4 33 324 324 - 4
244 15 Congolsum-N ,25e_. 6 204 194 19a, _ »
104 44 Conn Ry & Lt pf_ 30s 74 7 7
194 ll Consol Aircraft 22 164 16 16 — 4
80 71 Cons Cgr pr pf 6.50. 10s 754 754 754
254 17 Consol Edls (,60e).. 113 23V4 224 224
96 4 884 Consol Edis pf (5)_. 3 91 90 91 +m
14 1 Consol Film _ 2 14 14 14
54 24 Consol Laundries_ 1 34 34 -34 _ u
304 7 Consol 011 (.80) _ 15 94 84 84—4
74 24 Consol RR Cuba pf. 1 34 34 34 — 4
4 4 Consol Textile (r)__ 2 4 4 4
164 94 Contain Corp 1.20__ 13 12 114 114- 4
164 84 Conti Baking (A)_ 8 12 12 12—4
24 14 Conti Baking <B)_ 1 14 14 14
85 654 Conti Baking pf (8). 1 80 80 80 +2
454 364 Conti Can (le) _. fi 39 4 384 39
1104 107 Conti Can pf (4.50). 1 109 109 109 +4
94 64 Conti Diamond ... 1 7 7 7
32 214 Conti Insur (1.60a). 1 264 264 264 + 4
14 1 Conti Motor _ fi 14 14 14 _ 4
344 214 Conti Oil (Del) .25e. 9 274 264 264 —14
654 53 Com Products <8)__ 15 644 634 634 - 4
1664 162 Corn Prod pf (7).._ 1 165 165 165 +2
44 24 Coty Inc_ 1 34 34 34
30 19 Crane Co- 11 284 274 274 - 4
98 85 Crane Co ev pf (5)_ 1 96 96 96 +14
25 214 Cream of Wh (le).. 5 244 24 24 - 4
104 54 Crosley Radio .. 1 74 74 74
394 224 Crown Cork&S .50*. 3 284 28 28 — 4
124 74 Crown Zeller .50#... 6 10 94 94 _ 4
444 194 Crucible Steel- 4 254 254 254 -4
134 54 Cuba R R pf ... 20s 74 74 74-4
74 44 Curtis Publishing.. 9 54 54 64 - 4
604 39 Curtis Pub pf (2k). 2 404 40 40 -3
54 34 Curtiss-Wrlsht _ 28 44 44 44
194 124 Curtiss-Wright (A). 15 184 174 18 - 4
524 484 Cushman J7 pf 3.50. 10s 55 55 55 +3
244 134 Cutler-Hammer_ 2 184 184 184 — 4
94 64 Davison Chemical.. 3 9 9 9+4
107 1024 Dayton P&Lpf 4.BO. 20s 104 104 104 -14
254 174 Deere* Co- 46 204 194 194 -1
25 195* Deere & Co pf (1.40) 2 214 214 214 -4
154 9 Deisel-Wem-G .20e. 1 12 12 12
174 74 Del * Hudson__ 2 94 94 94 — 5*
108 76 Det Edison (3e)- 1 90 90 90
394 25 Devos* Ray (A) *. 20s 304 304 304 -4
264 204 Diamond Mtch .60s. 2 254 255* 254
34 30 Dixle-Vor (A) 2.50. 110s 314 31 31 -4
604 464 Dome Mines 2e_ 9 54 534 534 — 4
8V» 44 Dominion Stores_ 1 5 5 5 -1
46V* 31 Douglas Aircraft _ 38 42V* 414 4154 -14
112 874 Dow Chem (1.50e)_. 4 102 100 100 -5
1234 904 Du Pont de N 50e_. 34 101 984 984 -24
137 1304 Du Pont deb 16) ... 2 132 132 132
115V* 1094 Dupont de N pf 4.B0 1 1134 1134 1134 + 4
1164 1115* Duquesne 1st pf (5) 60s 114 114 114 -1
176 1214 Eastman Kod 3.50e. 4 1504 148 148 -34
2154 104 Eaton Mfg Co ... 1 135* 1S4 135*
214 134 El Auto Lite <.26e)_ 4 164 164 164
1054 6 Elec Boat (.60k)_ 5 84 84 84 -4
4 24 El* Mus Inst .19*.. 6 34 34 34
1354 64 Elec Pwr * Light.. 65 94 84 84 -4
40 18 Elec Pwr & Lt S* p£ 6 274 26 26 —4
43 224 Elec Pwr * Lt pf_ 4 314 31 31+4
224 17 El Paso Nat G (2).. 1 214 214 214+4
64 24 Enc Public Service. 8 44 4 4 -4
Prey. 1038 Btock and Sales— Net
Hltb. Low Dividend Rate. Add 00. Hlrh. Low. Close, ehte.
2V4 1H Equit Office Build's 1 it* l7* it* — v*
6>* 2 Erl* R R- _ 1 2Vi 2*4 2»i - t*
fit* 2t* Eureka Vacuum Cl_ 14 4 4
lot, 5Vi Evans Products_ 1 7s 7a* 7*4—1*
13*4 8 Ex-Cello Corp ,20e.. 7 12V* 12 12 — Vi
2 V* Fairbanks Co - 10a IV* IV* IV*
33V* 19V* Fairbanks-Morse 2 26 26 26 + V*
33 26 Fajardo Sugar (Is). 1 27 27 27 — *4
10V* 67* Federal Lt & Trac 1 9V* 9V* 9V4 — v*
1 75V* 67 Fed LtATrac pf (6) 10a 71 71 71 -IV*
4** 2V* Federal Motor _ 4 3V* 3 3
33tj 22V, Fid Phoenix 1.60a._ 4 27 26*i 27 - V,
25V* 16H Firestone (,75e)_ 1 18t* 18'* 187i — Vi
18*4 lO7* Fllntkote (lg)_ 10 15*4 15V* 15** — V4
33', 18 Food Mach (.25e)_ 1 26'i 26'i 26'i — V*
—0V* 11 Foster Wheeler __ 7 15*4 15 15 — *4
28 197, Freeport Sulph (2). 3 25V* 25V* 25'*
5 2', Gair (Robert) _ 2 3Vi 3Vi 3Vt
7'* 4Vi Gar Wood Indust... 1 6'* 5V» 5'*— *4
9 6'* Gen Baking ,10e_ 2 7S 7V» 7*4- Vi
13 S'* Gen Cable __ 4 9'* 9 9 — M
257i 11 Gen Cable (A) _ 2 18V, 17S 17V4 - V*
120', 108V4 Gen Cigar pf (7)_ 10*114 114 114
45V* 27'* Gen Electric (,30e). 47 35 33V* 337* -IS
33*i 2274 Gen Foods (2)_ 4 26*4 26V, 26V,- Vi
1*4 Vi Gen Gas A Elec (A) 3 1 1 1
57Vi 50*4 Gen Mills (3) _ 1 54 54 54
38Vt 25'* Gsn Motors (.25e).. 117 31V4 30V4 30*4 —IV*
116V* 111V* Gen Motors pf (6).. 3 112V* 112', 112'* + Vi
5V* 4 Gen Outdoor Adv_ 1, 5*, 5*4 5*4 — V4
9:* 6*4 Gen Print Ink .10*.. 1 81* 8V4 8S — V*
2Vi 1*4 Gen Public Service. 2 1** lv* IV, - v,
26V, 12*4 Gen Ry Slg <.50e>__ 2 17V* 17V* 17'* —IV*
2 1 Gen Realty A Util.. 1 IS IS IS
28 15'* Gen Refractories... 26 21S 21 21
28*i 13 Gen Steel Cast pf... 40s 19 I8*i 18*i — *4
14 8', Gen Theat Eq ,25e . 1 ll'i 11V* lit* — V4
20 147* Gen Time lns(.15e). 1 15'* 15V, 15',— v,
14', 9V* Gen Tire & Rubber. 1 11', 11'* 11',— i*
ll'i 7S Gillette Saf R .25*.. 1 8*. 8', 8S — '4
9*« 5 Glmbel Bros_ 5 7 7 7 — '4
27', 13 Glidden Co _ 2 18% 18% 18%— %
3% 1% Gohel (Adolf) 1 2% 2% 2%
3% 2% Goehel Brew .20 _. 1 3% 3% 3%
80 70 Gold Stock Tel (6). 20s 60% 60% 60% -8
10% 10 Goodrich (BF) 6 14% 13% 14 — %
24 15% Goodyear Tlre(.25e) 16 10% 10 10 — %
80 72 Goodyear pf (5) ... 1 76% 76% 76% -2%
4% 2% Gotham Silk Hoi... 1 3% 3s, 3% + %
2 ■% Graham-Paipe 2 1% 1 1 — %
18% 10% Granite City S.125e. 1 13 13 IS — %
27", 10 Grant (WT) 1.20e . 1 22% 22% 22% - ",
23 20 Grant (WT) pf (1)_ 1 21% 21% 21%
26% 12% Great Northern pf.. 12 15% 15 15% — %
15% 9% Grt Nor Ore ct ,76a. 3 12% 12 12%+ %
32 23% Great Wn Sug 2.40a 1 28 28 28
21% 13% Green (HL) 1.60a__ 4 16% 15% 15% - %
11% 7% Greyhound (.80) 11 0% 9% 9%
8% 7% Greyhound pf .65).. 1 8% 8% 8%
7 5 HalH WTlPrlntlng. 3 6% 6% 6% — %
25 15 llarh-Walker ,50e . 4 21% 21% 21% — ",
74 44 HatCorp (A) __ 1 54 54 54
74 54 Hecker Prod (.60).. 1 64 6V* 64 — 4
294 17 Holland Furn (le).. fi 284 284 284
11 S’, Hollander * Son_ 1 8 8 8 -4
254 14 Holly Sugar 2.25e . 2 154 154 154 — 4
654 484 Homeatake Min 4>4. 5 574 57 574 + 4
25 174 Houd-Her (A) 24.. 1 29 20 20 - 4
114 6 Houd-Hershey (B)_ 2 8 74 8 + 4
84 5 Houston Oil. _ 7 64 64 64 — 4
534 234 HoweSound(3) 1 36 36 36 —14
284 204 Hudson Bay (1.7og) 6 26 26 26 —1
24 14 Hudson & Manhat.. 2 14 14 14+ 4
74 -3 Hudson* Man pf_ 1 34 34 3*, -r 4
10 5 Hudson Motor__ 5 64 64 64 — 4
14 4 Hupp Motor__ 2 1 4 4 — 4
124 64 Illinois Central__ 5 84 8 8—4
84 4 Indian Refining_ 1 64 64 64
22 144 Industrial Rayon... 1 17 17 17
86 60 Ingersoll Rd(1.50e) 2 78 78 78 -34
154 74 Inspiration Coppsr. 82 114 11 114— 4
44 34 Insuransh ct (.20).. 1 4 4 4
44 2 Intercontl Rubber.. 1 3 3 3 —4
134 64 Interlake Iron_ 13 94 9 9 — 4
34 2 lntl Agricultural... 1 24 24 24 — 4
1544 130 lntl Bus Mach (6a). 1 1434 1434 1434 -1
70 504 lntl Harvest (2.60). 15 594 564 58 -2
74 34 lntl Hydro-Elec(A) 14 54 5 5 - 4
114 64 lntl Mining (.15e).. 3 84 84 84
524 364 lntl Nick Can .50e__ 83 47", 4-54 464 — 4
94 44 lntl Paper & Pwr .. 17 74 64 7 — 4
394 184 lntl Paper&Pwr pf. 21 28 27 274 — ",
6 24 lntl Ry Cent Am_ 80s 44 34 34 — 4
84 54 lntl Tel & Teles_ 70 8 4 7 4 74 — 4
9 6 lntl Tel & Tel for ct 14 84 84 84 — 4
134 64 Interstate Dept Str. 2 8", 84 8", + 4
12 8 Intertype (,80g)_ 19 9 9
534 444 Jewel Tea (4)_ 3 50 40 40 -1
86 ,68 Johns-Manvllle _ 12 664 65', 65’, —1>, '
125', 122 Johns-Manv pf (7)_ 140s 125 • 124', 124', — 4 |
ON 54 Kansas City Southn 3 7N 7', 7', — N '
9*» 4", Kelsey-Hayes (A)-. 1 6’, 6’, 6’, 4- 4 I
43’, 26’, Kennecott (,25e) __ 20 34', 33N 34 — ",
O’, 6', Keystone P&W .15e 4 8 7’, 7’, — ',
22', 10 Kimberly-Clark; 1). 3 22’, 22 22 — 4
16', 0 Kinney (GR) pr pf. SOs 13', 13', 13',
18’, 15', Krespe (SS) .30* .. 3 171, ]7'» 17',+ 4 j
17', 12’, Kroper Groo (1.60). 3 15 15 15 - ", j
30 15 Laclede Gas pf_ 110s 21 20', 204
124 84 Lambert Co (.75e).. 2 10’, 10’, 10’, — 4
1’, ', Lehiph Valley Coal. 2 ", *, N
6’, 3 Lehiph Valley R R. 2 4', 4', 44 — ’»
28N 19N Lehman Corp (1)_ 12 25', 24 24N -l'«
11 6’, Lehn & Fink ,30e... 1 9', 9', 9', + ",
27’i 19’, Lerner Stores (2)._ 1 23 23 23
42 234 Lihhy-Ow-Fd ,50e). 2 29’i 29', 29’,+ 4
27’, 25 Life Savers <l.«0)_ 1 28 28 28 -r 1
102', 81', Llpp & Myers(B)4a 1 92'i 92', 92', — ”,
167 157 Lips & Myers pf (7). 1 159’, 159”, 159”, - v,
34’, 204 Lima Loco _. 1 27 27 27 —1',
20 124 Liquid Carbon .60e. 1 16 16 16 — >,
62’, 33 Loew's. Inc (,50e)._ 16 41’, 414 41*,— 4
IN ** Loft. Inc_ 18 1», 1’, I’, — 4
40', 26 Lone Star Cem (3)_ 1 37 37 37 —1
4N 2’, Long-Bell (A) 1 34 3', 3N
21 14*, Loose-Wiles ( 55e)_ 5 16N 16*, 16’,
18 13*, Lorillard (1.20) ... 4 16 15’, 15’,
140',125 Lorillard P pf (7) .. 40s 135 135 135 +10
17', 12', Louis G&E A(1.50). 4 15** 15', 15’, - 4
56', 29’, Lou & Nash 2.60e._. 1 32 32 32
10 6 McCrorey Stores 18 8 8
15 10 McGraw Elec (1)__ 3 144 14'* 141* + ',
26', 14 McKeesport Tin__ 2 16 16 16 —
8’* 5N McKesson & Rob_ 4 6N 64 6',
35', 28 McKess&Rob pf (3) 3 32’, 32', 32',-',
8’, 5 McLeilan Strs ,40e_ 2 6’, 6', 6', — 4
24** 16 Mack Truck (1)_ 4 20’, 19’* 19** - N
32N 24’, Macy (RH) Co (2). 4 29’, 20’, 29',
13', 10 Madison Sq Gar .20* 4 13 12', 13 + *,
30’, 18*4 Magma Cop (.35e).. 1 244 24', 24',— 4
0 4N Mandel Bros (,75e). 1 6 6 6 — V,
12'* 9 Manhat Shirt (1) .. 1 11 11 ]l
74 5 Marine Midland .40. If 5** 6*» 5’, + i,
29 18*, Marlin-Rock ,50e... 1 21’, 21’, 21’, -IN
9*4 54 Marshall Field__ 2 7*, 74 7', - 4
224 144 Martin (Glen)_ 62 224 214 214 - N
374 25 Masonite Corp (1).. 2 314 31 31V* — 4
6’, 34 Maytag Co ... !» 44 44 4*, — 4
25 17 Maytag pf ww (3).. 1 IS’, 18’, IS’, — n
54 34 MengelCo . .. 3 4*, 4N 4*, — 4
23 164 Mengel 5% pf (2%) 10s 104 194 194 + N
11’4 5** Miami Copper ... 5 8*, 8', 8', — 4
22N 124 Mid-Cont Pet .25e._ 2 17 17 17 - v*
67 464 Mlnn-Hon R ,125e . 3 61 504 504 -1
107 100 Minn Hon pf B (4). 10s 105 105 105 -2
7N 4 Minn-Moline Imp .. 5 5N 5*, 5N — 4
60 35 Minneap-Mollne pf. 1 45 45 45
174 11 Mission Corp _ 1 144 144 14' . + 4
914 684 Monsanto Ch (2)... 8 704 694 694 -14
'374 25 Montgom Ward le.. 34 324 304 31 —1
394 25 Morris A Ess 3 7*4 60s 26 25 25 -24
214 104 Motor Products _ 5 144 14 14 — 4
14 8 Motor Wheel(.20e)_ 1 104 104 104 -4
214 114 Mueller Brass _ ... 2 144 144 14V* —1
74 4 Mullins Mfg (B)_ 1 5 5 5 -4
57 344 Murphy <GC) (4)... 1 414 414 414-4
104 95 Murphy(GC) pf (5). 20s 97 97 97 -1
124 64 Nash-Kelv (.125e)_. 11 84 84 84 -4
134 8Vi Natl Acme_ 2 104 104 104 - 4
104 6 Natl Aviation_ 4 74 74 74 - 4
204 154 Natl Biscuit <.*0e)_. 13 204 194 194
174 104 Natl Bd & Inv 1.44 2 134 134 134
80 65 Natl Bd&In pf ww 5 1 70 70 70 +2
184 124 Natl Cash Reg 50e 1 164 164 164 -4
154 114 Natl Dairy (1.20) . 55 134 124 124 -4
1124 1064 Natl Dairy pf A(7). 30s 108 1074 1074 - 4
110 1054 Natl Dairy pf B (7) 110s 108 108 108
74 34 Natl Dept Stores 1 6 5 5 — 4
54 34 Natl Dept Stores pf 4 4 4 4 —4
234 174 Natl Distillers (2).. 6 184 184 184 - 4
74 5 Natl Gypsum_ 10 7 7 7 —4
294 174 Nat! Lead (.60)_ 13 214 204 204 -1
24 134 Natl Malleable_ 2 164 16 16 + 4
84 5 Natl Pwr & Lt (.*0) 11 7 64 64 -4
624 444 Natl Steel (.25e).._. 6 534 53 53
23 144 Natl Supply _ 7 184 174 174 -4
294 21 Natl Supply *2 pf.. 2 264 264 264 -4
44 24 Natl Tea Co_ 1 34 34 34
104 74 Natomas (.80)_ 2 9 9 9
40 28 Newberry(JJ) 2.40 . 2 3 1 4 307i 304 +24
106 100 Newberry (JJ) pf 5. 20s 994 994 994 -1
194 94 Newport Indus_ 8 134 134 134 - 4
194 10 NT Central_ 40 124 124 124 - 4
384 124 N T Chi & StL pf_ 1 174 174 174
44 2 NT Dock_ 60s 34 84 34 i
114 64 NT Dock pf_ 400s 114 94 10
4 4 N T Investors (r>_ 14 4 4
14 4 NTOnt* Wn (r)_. 2 4 4 4-4
104 44 N T Shipbuilding... 2 7 7 7 -4
1064 100 Norfolk* Wn pf(4) 10s 103 103 103
104 54 Nor Am Aviation .. 21 9 84 84 — 4
22 134 Nortn Am Co (.30e) 37 18 17 174 -4
99 92 North Am Ed pf(6). 1 88 88 88
134 64 Nor Pacific _ 21 84 74 74 — 4
144 10 OhloOti(lS)_ 9 124 124 124 +4
324 204 Oliver Farm Equip. 15 254 24 244 - 4
124 74 Omnibus Corp__ 6 94 94 94 + 4
12 64 Otis Steel 5 84 84 84 + 4
664 40 Owens-Ill G1 .50e._. 7 514 51 61
114 6 Pac Am Fish .45e_ 1 8 8 8 -4
284 224 Pac Gas* El (2)_ 3 254 254 254 -4
164 94 Pacific Mills _•_ 5 134 13 134 + 4
116 87 Pac Tel & Tel 1.50e. 40s 102 102 102 + 4
64 34 Packard Motor_ 4 44 4 4 —4
124 64 Paramount_ 26 8 74 74 — 4
974 65 Paramount 1 pf(6). 2 804 79 79 —24
124 64 Param't 2d pf (.60). 4 94 84 84 — 4
34 14 Park Utah Mines_ 6 24 24 24—4
24 14 Parraelee Tran_ 1 14 14 14 - 4
64 34 Path# Film__ 9 64 44 5 — 4
124? 84 Patino Mines_ 8 94 94 94 .
Prev. 1038 Stock and Sales— Net
High, Low. Dividend Rate. Add 00. High. Low. Close, chtk.
6H 4 Peerless Corp_ 4 54 6 6—4
734 55 Penney (JC) (1«)._ 6 6«»t 62 62 — 4
244 144 Pennsylvania R R.. 17 164 16 164— 4
344 224 Peoples Gas & C_ 4 274 274 274 —1
384 15 Pere Marq pf_ 10s 21 21 21 -14
74 44 Pfeiffer Brew .25e.. 4 7 64 64 — 4
314 174 Phelps Dodge .10e . 17 234 23 23 — 4
44 24 Phila Rap Tr pf (r). 30s 24 24 24
954 75'/, Philip Morris 5.25e. 6 874 864 87 -1
424 274 Phillips Petrolm(2) 10 334 334 334 — »i
24 4 204 Pillsbury FI 1.60_ 1 224 224 224 + 4
84 5 Pitts Screw . _ 1 64 64 64
45 25 Pitts Steel pr pf_ 60s 26 25 26 -1
24 1 Pitts United_ 3 14 14 14— 4
164 6 Pitts & W Va_ 10s 9 9 9 -4
20 15 Plymouth 011 1.40.. 5 18V, 184 184 — 4
12 64 Poor & Co B .. 5 74 7-4 74 - 4
14 4 Porto R Am To (B). 4 4 4 4— 4
104 44 Pressed Stl Car . 3 7 64 64 — 4
504 39', Proctor & Gam (2). 2 474 474 474 - 4
354 25 PuhSvoN J (2.60). 4 284 274 284 +4
364 214 Pullman Co (.375e). 4 28 274 274 + 4
134 84 Pure Oil ... .. 21 104 10V* 104- 4
104 7 Purity Bak (,15a)_ 5 9 9 9 + Vi
7Vi 44 Radio Corp __ 15 64 6 6 —4
63 374 Radio cv pf (34) . 4 48*, 48 48»* — 4
54 24 Radio-Keith-Or (r). So 24 24 24 — 4
24V, 9V, Rayonier Inc . 2 104 10** 10** + 4
294 18 Rayonier pf (2)_.’ 1 194 194 194
44 24 Real Silk _ 1 34 34 34 + V,
9*, 64 Reliable Stores_ 17 7 7
154 94 Rem Rand .50a_ 4 11*, 114 114 — Vi
3 14 Reo Motor _ 9 2 2 2
204 114 Republic Stael_ 23 144 134 134 - 4
754 394 Rep Steel cv pf_ 1 51 51 51 -34
174 74 Revere Copper . 1 114 114 114— V,
104 44 Reynolds Spring_ 1 64 64 64 — 4
464 334 Reynolds T(B)1.80e 8 37 364 364 -4
74 5 Richfield Oil_ 12 64 6 6 —4
234 13 Ruberoid Co_ 3 20 194 20
234 12 Safeway Stores ,25a 3 154 154 154 — 4
105 79 Safeway Sts pf(7) 20s 81 81 81
40', 254 St Joseph Lead .25a 3 34 33 33 -1
14 4 StL-San Fran (rl... 1111
3 14 StL-San Fran pffr) 2 14 14 14
194 84 Savage Arms . 3 11*. 104 104 -1
274 164 Schenley Hist 50e_. 5 19 184 184 — 4
85 704 Schenley pf (5 Vi) . 1 744 744 744 + 4
1 4 Schulte Ret Strs(r) 3 »* 4 4— 4
42 344 Scott Paper (.40e)_. 60s 39 39 39 + 4
274 154 Seaboard Oil (1) 2 194 194 194.— 4
654 47 Sears Roebuck (3a). 16 58 664 574—Pj
164 94 Servel Ine (1) .. 7 13 124 13 + 4
66 454 Sharon Steel pf (5). 1 534 534 534 + V,
54 3 Sharp & Dohme_ 6 4 34 4
I84 10 Shell Union Oil ... 10 134* 13 1.34 — 4
94 4*» Silver King C.35e.„ 5 64 6 6 — 4
244 124 Simmons Co . 9 184 17 17 —14
22 144 Simonds Saw ,20e-_ 1 154 154 154 — V*
344 184 SkellyOil _ 1 224 22** 224 — 4
824 45 Sloss-Sheffield_ 20s 61)4 604 60v, —14
134 84 Snider Pkg (,75e) _ 2 94 94 94 — 4
164 104 Socony-Vacuum .50 31 134 13 134 — V*
34 14 So Am Gold * Plat . 4 2 2 2
24'. 194 Southn Cal Ed 1 Via. 5 224 22 22 +4
224 94 Southn Pacific_ 15 124 114 11*, — 4
13*, 54 Southn Railway ... 12 74 74 74 — 4
214 84 Southn Railway pf. 3 114 10*, 10*, — V,
4 2 Sparks Withington. 5 2*, 24 2*,
214 15*, Sperry Corp _ 28 204 194 194 — 4
•39 29 Spicer pf A (3)_ 10s 35 35 35
114 6', Spiegel, Inc .. _ 11 74 74 74 — 4
61 484 Spiegel. Inc pf (4V4) 130s 544 54 54
94 64 Stand Brands .35e . 6 74 74 74
1074 94 Stan Brands pf 4.50. 1 9H4 984 9X4 + 4
34 14 Stand Corn Tnb (r)_ 2 14 1*, 1*,
54 2 Stand Gas & El (r). 4 34 34 34
114 44 Stand G&E pf (r)... 10 74 7 7
224 10', Std G&E $6 prpf(r). 1 154 154 154
264 13 Std G&E *7 pr pf(r) 8 19 184 18'., - 4 !
334 254 Stand Oil Calif (la) 5 29 4 294 294 — 4
354 244 Stand Oil Ind (1) .. 15 314 314 314 - 4 I
544 394 Stand Oil N J (la).. 33 484 46 46 —14 j
114 6', St*w-Warner(.50a). 7 8 74 74 — 4
114 54 Stone & Webster_ 27 84 84 84 — t,
71, 34 Studebaker_ 22 54 5 5 — V,
574 45 SnnOil(la)__ 2 49 49 49
144 94 Sunshine Min S0e)_ 9 114 114 114— V,
29*, 174 Superheater ,375e)_ 1 234 234 234 —14
3*, A4 Superior Oil _ 14 24 24 24 — 4
174 84 Superior Steel _ 1 12 12 12 -1
184 15 Swift & Co (1.20)__ 3 174 174 174 - 4
27 224 Swift Inti (2) ... 3 25 244 25 + V,
10', 44 Symington ww.25e_ 2 7 6;, 64 — 4
84 4 Symington xw 25*. 5 54 5*, 54 — 4
54 4'-, Telautograph .60_ 1 44 44 44
8 34 Tenn Corp _ 6 64 6 6-4
444 324 Tex Corp (2)_ 34 384 374 37*, -1
34 26 Tex Gulf Sul ,50e_ 6 29 , 29 29 — *,
244 13 Tex & Pac RR__ 1 154 154 154 +2
104 7 Tex Tac C&O (.40).. 3 84 8*. 8*,- 1, j
Prer. 1938 Block and Balm— Net
High. Low. Dividend Ret*. Add 00. High. Low. Clone, ehae.
11% 6% Tex Pac Ld Tr_ 28 8% 8% 8% - %
24% 15 Thatcher Mfg .25#.. 1 17 17 17 -1%
15% 8% Thompson Prod_ 2 11% 11% 11%
3% 1% Thompson-Starrett. 1 2H 2% 2% — V4
13H 5% Thcmpson-Starr pf. 2 11 10 10 —1%
15% 10% Tide-Water Oil C). 9 13% 13% 13% - H
85 77% Tide-W A O pf 4.50. 1 77% 77% 77% - %
48% 31% Timken Roll B .25e. 3 38% 37 37 -2
12% 8 Transamerlca .75__ 6 10% 10 10 — %
7% 4 TranscontI Wn Air. 3 6% R 6% — %
4% 2% Trl-Contlnent__ 12 3% 3% 3% — %
6% 3% Truax-Traer (.*0).. 1 4% 4% 4% + %
24 16% 20th Cent Fox .60#.. 13 21% 21%. 21%-%
10% 6 Twin Coach_ 3 7 6% 6% — %
59% 41 Ujjdwood-E-F (le). 1 48% 48% 48% -1%
12% 7% Un Bar&Pap .12%#. 5 10% 10 10 — %
80 57 Un Carb (1.60e> _ 33 66 65% 65% —1%
21% 17% Un Oil of Cal (1.20). 11 20 19% 19% - Vi
88% 55% Un Pacific (3e)_ 1 62% 62% 62% -2%
27% 19% Unit Aircraft_... 61 26% J5% 25% — %
8% 5 Unit Air Line#__ 5 7% 7% 7% — %
19% 14% Unit Biscuit (40#)_. 1 17% 17% 17%+ %
49% 39 Unit Carbon (4)_ 3 41% 41% 41% — %
3% 2 UnltCorp_ 15 2% 2% 2% — v»
32% 22% Unit Corp’n pf (*).. 5 27 25% 25%—2%
6% 3 Unit Electric Coal.. 14 4 4
65% 50 United Fruit (3)__ 2 60% 60 60%—1%
11% 8% Unit Gaa imp (1)_ 21 P% 9% 9% — %
7% 3% U 8 Distributing pf. 60s 6 6 6 —1
7 4 Vi 55 US Gypsum (2)_ 5 72% 71 71 —1%
169% 162% U S Gypsum pf (7)- 30s 164 164 164
23% 13% U S Indus Alcohol.. 1 16% 16% 16% — %
6% 3% U 8 Leather__ 1 4% 4% 4% — %
10% 5% U S Leather (A)_ 1 7% 7% 7%
32 21% US Pipe* Fy (2) — 8 29% 29% 29%-%
6% 2% U S Realty & Imp— 5 4% 4% 4% — %
35% 21 U 8 Rubber_ 96 27% 26% 26% — %
81 45% U 8 Rubber 1st pf._ 26 69% 67 68% -1%
71 44% USSmelt&R (2e). 2 56 .55% 55% -2%
70% 55 U S Smelt pf (3%)_ 4 58% 58% 58% + %
62% 38 US Steel (new)_ 114 45% 43% 44 —1
114% 95 U S Steel pf (7)_ 26 99% 98 98 -1%
5 3% Unit Stockyds (.50) 1 4% 4% 4%
2% 1% Unit Stores (A) .. 2 1% 1% 1%
51 27% Univ Pictures lstpf 10s 35% 35% 35% -r2%
l'i % Util Pwr* Lt (r)_ 1 % % %
1% “« V'adsco Sales__ 2 % % »t
20% 11% Vanadium _ 6 15% 15% 15% — %
14% 14 Victor Chem (,20e). 1 14% 14% 14%+ %
32% 15% Va-Caro Chem pf . 1 20% 20% 20% —1%
110% 105 Va Elec&Pwr pf(6). 60s 108 108 108 + %
4% 1% Va Iron Coal & Coke 50s 2% 2% 2% — %
15% 5% Va Ir Coal&Coke pf. 10s 8% 8% 8%
4% 1% Wabash pf A (r)__ 2 2% 2% 2% — %
20% 15% Walgreen f.75e)_ 1 16% 16% 16%
44% 30 Walker (H) (4)_ 1 38 38 38 -1
8% 4% Walworth Co_ 10 6% 6% 6% — %
3% 2 Ward Baking (B)__ 1 2% 2% 2% — %
48 23 Ward Bak pf .50k_ 1 29 29 29 -2
7% 3% Warner Bros Piet_ 13 5% 5 5 — %
40 20 Warner Bros Pic pf. 60s 28% 28% 28%+ %
29% 17 Wayne Pump (2)._. 5 24*. 23% 23% — %
3 1 % Webster Eisenlohr. 1 1% 1% 1%
35% 25% Wesson O&S 1.25e . 1 30% 30% 30% -2%
97% 74 West Penn El pf (6) 10s 80 80 80 -2
121 116 West Penn P pf (7;. 30s 118% 118% 118% — %
3% 1% Westn Pacific pf_ 2 2% 2 2% — %
28% 16% Westn Union Teleg. 5 23% 22% 22% — %
27% 15% Westhse Air Br (1). 2 21% 21% 21!.— %
109% 61% Westhse El&M (le). 31 76v4 74% 74% —1%
27% 14% Wheeling Steel__ 2 18% 18 18 -1
13% 6% White Motor__ 7 8s* 8% 8% — %
3 1% White Sew Mach_ 2 1% 1% 1%
21% 8% White Sewing M pf. 1 13% 13% 13%
5% 3 Wilson* Co __ 2 4 4 4 + %
19% 10% Woodward Iron_ 1 13% 13% 13% - %
43% 36 Woolworth (2.40)7 42% 41% 41% — %
20 11% Worthington Pump 3 15% 15 15 — %
94 55% Wright Aero .. .. 30s 82 81 81 -4
29% 20% Yale & Towne .60_. 1 28 28 28 —1
15% 8% Yellow Truck _ 34 12% 11% 11% — %
93 71 Yellow Tuck pf (7). 30s 79% 79 79 -1
18% 9% Young Sprg&Wire.. 1 14% 14% 14%- %
43% 24 Ygstwn Sheet * T.. 30 32% 31 31 -1%
22% 11% Ygstwn Stl Dr .25#. 4 15% 14% 14% _ .%
5% 2% Zonite Products_ 2 4 4 4
Approximate Sales of Stocks ort the N. Y. Stock Exchange.
11:00 A.M- 80,000 12:00 Noon_ 160000 '
1:00 P.M.- 300,000 2:00 P.M_ 360,000
Total Sales for the day. 440.000
s Actual saies; unit of trading 10 sharw.
x Ex dividend, xr Ex rights, a Also extra or extras, b 1-10
share of *•! preference stock. dl-’JS share of preference
stock e Declared or paid so far this year, f Payable in stock,
g Paid last year, h Cash or stock, k Accumulated dividend paid
or declared this year.
r In bankruptcy or receivership or being reorganized under
Bankruptcy Act. or securities assumed by such companies.
. Ra pf °J dividends in the foregoing table are annual dis
bursemen s bas*»d on the las* quarter ? or semi-annual declara
tion Lnless otherwise noted special or extra dividends are not
included.
TEXAS CD, HANS
DRIVE ON TAXES
Advertising to Shun Attack
on Anybody, but Will
Present Data.
By the Associated Press.
NEW YORK. April 26 —Stock
holders of the Texas Corp. at their an
nual meeting today unanimously
passed a resolution authorizing nffl
. cers of the company to embark upon
I a newspaper advertising campaign "to
, tell the facts" about business problems
j in relation to taxation.
The motion was made by J. New
comb Blackman, who described him
■ self as a substantial stockholder. Pre
viously he recommended that the
Texas Corp. and other large com
panies take full page ads in news
papers throughout the country so that
"big business can tell its story." He
said:
"Get the facts home to the public,
j Don't, attack anybody. Just give the
■ facts.”
He made his remarks after T.
Rieber, chairman, had told another
stockholder, B F. Castle, that in 1937
the corporation paid $104,000,000 in
taxes, which he said was twice the
total of all salaries paid.
Rieber also told Castle in answer to
another question that although oil
consumption in China at the present
time is only 50 per cent, of normal, the
company is carrying on a satisfactory
business for cash and has lost no men,
equipment or oil.
Rieber reported that the March
quarter earnings of the company were
equal to 56 cents a share, compared
with $1 in the 1937 quarter.
Stockholders applauded Rieber when
in answer to a question from a third
stockholder, A. L. Helwig, he said he
had anticipated the present situation
in Mexico and that the Texas Corp.
had withdrawn from Mexican opera
tions some time ago.
All directors were re-elected and at
the director’s organization meeting all
officers were re-elected.
Rieber said the corporation is build
ing 265 miles of pipeline over the
Andes Mountains at a cost of between
$10,000,000 and $11,000,000, to be com
pleted in 1939.
CO-ORDINATION SOUGHT
IN BANK EXAMINATION
By tbr Associated Press.
Secretary of the Treasury Morgen
thau announced yesterday he was seek
ing voluntary co-ordination of bank
examination by the three Federal
agencies which examine banks.
The Treasury head said the Presi
dent had asked him to determine how
far the bank supervisory activities of
the Federal Reserve Board, the Federal
Deposit Insurance Corp. and the con
troller of the currency could be co
ordinated without legislation.
The study, he added, did not pre
clude the possibility of administration
requests for legislation to consolidate
the bank examining activities.
Officials of the three agencies met
yesterday, he said, and discussed the
preparation of a standard procedure
for valuing Government bonds in bank
investment portfolios.
NEW YORK COTTON
By the Associated Press.
NEW YORK, April 2fi—Cotton fu
tures opened 2 to 4 points advanced
on higher Liverpool cables and for
eign buying. Selling of May against
77 notices was well taken. May. 8 81;
July, 8 90; October. 8.98: December,
9.02; January, 9.03; March, 9 09.
Trade shorts bought the spot month
and the steady tone attracted some
commission house buying, causing
prices to advance a few points further.
July sold up from 8 90 to 8 93, but
scattered realizing, foreign selling and
hedging appeared. Shortly after the
first half hour that month was selling
at 8 90, with the list generally 2 to
5 points net higher.
Circulation of some of the May no
tices caused that delivery to react from
8 85 to 8 81, but there was enough
trade buying to support prices and by
midday May was selling at 8 83, with
the list 3 to 5 points net higher.
Cottonseed Oil.
Blcachable cottonseed oil futures
closed 7-9 lower. Sales, 86 contracts.
May. 8.30b: July. 8 21; September.
8.17b; October, 8.15. b—Bid.
New Orleans Prices.
NEW ORLEANS. April *28 (4*.—Cotton
futures opened 2 to 4 points net higher
here today in response to favorable for
eign markets, trade buying and covering.
May contracts opened at S.P7. July at
9.83. October. 9.13. December. P.15. Jan
uary. 9.17. and March. 9.23.
After showing advances of 4 to ft points
on active months the market reacted
slightly during the first half hour and
prices held at levels 2 to 3 points above
the previous close
Cottonseed oil opened steady; May.
7.0Kb: July. T.KTb; September. ?.K2b: Oc
tober. 7.77b; December. 7.7 5b. b—Bid.
-— -a
POWER FIRM VALUED
AT 49 TO 58 MILLIONS
By the Arsociatec* Press.
CHICAGO. April 26.—Charles True
Adams, trustee of the Utilities Power
& Light Corp., yesterday estimated the
present worth of the company at $49,
000,000 to $58,000,000. compared with
an original worth of $250,000,000.
His estimate was given at a hearing
on applications for fees and expenses
before Securities and Exchange Com
mission representatives. He disclosed
that a new reorganization plan is to be
submitted soon.
Adams has been trustee since March
15. He asked for $1,700 for March and
$3,500 and expenses monthly there
after.
——— ■ •
MARYLAND TOBACCO
SALES STILL LIMITED
Spec's 1 Dispatch to The Star.
BALTIMORE. April 26—Net re
ceipts of Maryland tobacco at Balti
more during the last week totaled
243 hogsheads and the sales were only
33 hogsheads. It is impossible to
quote definite, prices because of the
limited sales since the market re
opened on April 4 Present stock of
Maryland tobac warehouses to
tals 9,517 hogshc There were no
receipts of the Ohio product during
the last week and no sales were re
ported.
NEW YORK SUGAR.
NEW YORK, April 2fi i/Pi.—Early
losses in sugar futures today were more
than recovered in later trading on the
announcement by Chancellor Simon that
the British government had bought reserve
stocks of sugar.
May No. 4 recovered from ,88Va to .Pl'A
and September from »6 to P8'a. or lt4 to
2‘a points net higher. May No. 3 rallied
from 1.85 to 1.88 and September from
1.P7 to 2.00. or unchanged to 3 points
net higher around 2 p.m.
New York Steam Corp.—March
quarter common share earnings were
$2.37, against $3.39.
CHICAGO GRAIN
By the Associated Press.
CHICAGO, April 26—Late rallies
on purchases for previous speculative
sellers lifted wheat today to above yes
terday's finish, after the market had
touched four-year low-price record.
The late buying reversed an earlier
trend associated with disclosure that
the British government had acted
without statute authority in building
up a reserve food supply. Export de
mand for North American wheat re
mained disappointingly light.
At the close Chicago wheat futures
were off to 3« up compared with
yesterday's finish. May. 81S-8134;
July. 8034-80u: corn 'a-1? down. May.
58>2-58 July, 60'4-603g, and oats
at decline.
,,'"' HEAT—Open. Huh. Low. Close
r, ■fil'U -K'.’ .SO4. SI _ 3 ,
July .so1, -,,i. o.,/ ,4
September .81 .si4, 'jsj »*!..*
CORN—
.58’) ..iS’, .sst, .SKI-.',
Jub’ .hn'» .ho'j .fin'. fill'.-",
September .fil", .gp, .up, .fii't-s
OATS—
SS? -s?:*
September .CT5» .‘2734 .*i‘3* .*>7*^
SOY BEANS—
July .. •n2 02 s,,» •»''»
October ,88'j .88'* .ss'4 >*'!
RYE—
May . .fil .til'. ,«n'4 ,ki
J,ulv SB .SB'. .58 ..Ml\
September .57 .57'. ..yfis, 51*.
LARD—
Ma.v s.'tn 8.an s.-.’o s.-;5
July 8.57 K.57 S.45 8 47
September S.77 8,77 8 fi7 8 7n
October 8.83 8.83 8.75 8.77-80
BELLIES —
Ma>' - .. . . . 10.45
July - 10.7 0
Chicago Caah Market.
Cash wheat. No. 4 red. 7714-78;
No. 3 hard. 8712: corn. No. 2, mixed,
59>2; No. 1 yellow. 5914-6012; No. 2
white, 59!2: oats, No. 2 white, 30'2
31*4 ; rye. No. 3. 64: barley sales. 85;
feed. 42-45, nominal: malting, 68-86.
nominal: timothy seed. 2.50-2.70; red
clover, 30.00-35.00; sweet, 9.00-10.00.
-•-—
FOREIGN EXCHANGES.
NEW YORK. April 26 (jPi.—The foreign
exchange market leveled off today follow
ing several days of erratic fluctuations,
principally in the French franc.
Sterling lost H cent In terms of the
dollar while the franc was unchanged
Guilders lost .02 of a cent and the Swiss
franc was .ftl'j of a cent lower. The
belga gained .OO1 i of a cent.
Noon rates follow Great Britain in
dollars, others in cents. Great Britain,
demand. 4.9HV cables. 4.98V 60-dav
bills. 4.98'«: France, demand. 3.1 IV
cables. 3.11V Italy demand. 5.26 V
cables. 5.26V
Demands: Belgium. 16.86: Germany.
40.*24: registered *21.75. travel. *24*25:
Holland. 55.70: Norway. 25.06. Sweden.
25.70: Denmark. 22.27: Finland. 2 22:
Switzerland. 22.99: Spain, unquoted: Por
tugal. 4.53V Greece .92: Poland, 18.941;
Czechoslovakia. 3.48V Yugoslavia. 2 35:
Austria, unquoted: Hungary. 19.90: Ru
mania. .75: Argentina. 33.25n: Brazil
■free). 5.90n: Tokio 29.10: Shanghai.
27.90; Hong Kone. 31.10: Mexico City.
24.75n: Montreal in New* York. 99.46V
New York in Montreal. 100.53 V
TT. S. TREASURY NOTES.
NEW YORK April 26 ./Pi —Price* Quoted
in dollars and thirty-seconds:
Approx.
Rate. Mo. Yr Bid Asked,yield.
2S June. 1018_101.in 101.12 _
2S Sept.. 1018 ... 101.20 101.73 _ _
IS Dec.. 1018_101.6 101.8 _
IS Mar.. lOlOe_101.15 101.17_
3Vi, June. 1010_ 102.15 107.17 _
IS Sept . 1010_101.26 101.28 .07
IS Dec. 1010_ 101.10 102 .15
IS Mar.. 1040_ 101.14 101.16 .20
IS June. 1040_ 102.11 102.11 .16
IS Dec.. 1040_ 102.12 102 14 .56
IS Mar.. 1041_ 107.11 107.15 .61
IS June. 1041_ 102.2 102 4 .60
IS Dec., 1041_ 10127 101.29 .72
IS Mar.. 1042_ 101,12 10114 .85
2 Sent.,. 1042_ 104 71 104 21 .00
IS Dec.. 1942_ 101.23 103.25 .91
-•
NEW YORK LIVESTOCK.
NEW YORK. April 26 OPi iState De
partment of Agriculture!.—Cattle. 210. in
cluding 200 direct. Steers and bulls
nominal. Cows nominally steady: low
cutter and cutter. 4.26-6.00.
Vealers and calves. 1.990. including 1.
880 direct. Vealers fairly active, steady
to stronger on light supply; good and
choice 140 and 160 pound Pennsylvania*
and Michigan*, inoo-11.00: medtum
we
direct.
Market nominal.
Hog*. 3.940. including 3.910 direct.
Market 16 lower: 184-pound average. 8.60.
SMS SELL OFF
FRACTIONS TO 32
Few Rails and Utilities
, Resistant as Others
Move Lower.
Stock Averages
. 30 15 15 30
Indust. Rails. Util. 8tks.
Net change.—1.1 —.3 —.2 —.3
Today, close. 56 8 14 2 29 6 39 2
Prev. day... 57 9 14 5 29 8 39 8
Month ago. 50.4 12 4 25 4 34 5
Year ago... 91 7 44.3 44 2 67 9
1938 high... 68.2 21.6 34.9 47 9
1938 low_ 49.2 12.1 24.9 33.7
1937 high_101.6 49.5 54.0 75.3
1937 low_ 57.7 19.0 31.6 41.7
1932 low_ 17.5 8.7 23.9 16.9
1929 high_146.9 153.9 184.3 157.7
1927 low_ 51.6 95.3 61.8 61.8
(Compiled 6y the Associated Press.)
Bv VICTOR EUBANK.
Associated Press Financial Writer.
NEW YORK. April 26 —A few raib
and utilities managed to resist quiet
seinng in today's stock market, bu
many leaders ran Into losses of frac
tions to 2 or more points.
A brief flurry of offerings in steels
and motors near the fourth hour
served to lift tha volume over that of
yesterday, although average activity
was slow. Transfers were around
500.000 shares.
Feeble support arrived for the list
in the final period and extreme losses
were reduced in the majority of cases.
Most traders were content to remain
in neutral territory, brokers said, pend
ing delivery of the President's monop
oly message to Congress, expected some
time this week.
The continued murky business hori
zon was a restraining factor, notwith
standing the fact Chairman Jesse
Jones of the Reconstruction Finance
Corp. was quoted as observing unmis
takable signs of improvement for this
! summer and fall.
It was not overlooked, though, that
! the first 162 companies making public
; earnings statements for the first quar
; ter suffered an aggregate setback from
! the comparable 1937 months of 41 per
cent.
Foreign securities markets were
' without much vigor either way al
I though shares in unofficial dealings
j in London dropped sharply following
j announcement of Great Britain's larg
| est peace-time budget and a boost in
' the income taxes.
Conferences at Washington between
| the R. F. C. and Congressional lead
j ers on emergency aid for the carriers
helped the transportation division to
keep in a minor fractional range.
Utilities contested the trend as the
Consolidated Edison report on profits
revived further optimism for the pow -
er and light concerns.
Prominent back-sliders Included
United States Steel, Bethlehem,
Youngstown, General Motors, Chrys
ler, United States Rubber preferred.
Sears Roebuck. Montgomery Ward.
International Harvester, Standard Oil
of N. J., Texas Corp , Anaconda,
Kennecott, American Can. Westing
house. Du Port, General Electric, Air
Reduction and Eastman Kodak.
AUTO EXPORTS JUMP
WELL ABOVE YEAR AGO
Fy th® Associated Press.
"Contrary to general Impression,
there are several encouraging aspects
in the current automobile sales situa
tion, especially on the export trade,"
a Commerce Department report savs.
The report points out that automotive
exports were 10.5 per cent higher in
j the first quarter of 1938 than in the
' similar period of 1937. Foreign de
mand for trucks was particularly
strong.
-•
| INVESTING COMPANIES
j NEW YORK April 7R 7*.—Investment
Bankers' Conference. Inc..
! . . , Bid. Asked.
i Admin Fd 2nd Inc _ jo-js 1004
Am Bus Shrs mew) _ .03 3 34
! Am Gen Eq Inc _ .. . 54 Rl
Am Ins Stocks _ _ 3.;.5 400
Bancamer Biair 3.25 4 25
Bankers' Nat Inv Corp l r75 7 1:3
Basic Industry __ 2.*n
Boston Fund Inc 1; 7 9 14 7 5 "
Broad St Inv . _ 21 75 22 7.3
Bullock Fund __ 11.75 12*75
Corporate Trust AA_ 1 02
Corp Tr A A Mod _ 2 27
Corp Tr Accum Ser _ 1.02 117 I
Corp Tr Acc Mod _ 2 27
Cumulative Tr Sh 4 n2 ”1"
Depos Bk Sh N 5' A" 114 I
Depos Ins Shrs A ’ _ 7 RR
Depos Ins Shrs B’ 744
Diversified Tr C . . 3 in 7
Dividend Shrs _ . 1 n.Q 1 is
Equity Corp $3 pf 27 7.5 75 75
Fidelity Fund Inc _ _ ] R 4 * 17 75
First Boston Corp J7>75 ]4 37$
Fiscal Fund Bk Sh 7 .35 7 R<)
Fiscal Fund Ins _ 7 07 3 .33
I Fixed Trust Sh A _ 7 75
j Fixed Trust Sh B R no
Foreign Bond Assoc _ R .38 R 0.3*
Found Tr Sh A .3.45 .3 7f>
Fund Investors Inc 11 17 15 42
I Fund Tr Shrs A 4 14 4 75
Fund Tr Shrs B 3.7 6
Gen Capital Corp _ 2 7 11 70 15*
Gen Investors Tr ... 4 in 4 4R
(Group Sec Agriculture _ j nj 1 jj
' Group Sec Automobile _ «k 75
{ Group Sec Building _ 117 1 72
Group Sec Chemical 1.02 ] 12
Group Sec Food _ .7 3 .81
Group Sec Invest Shrs _ .82 .R9
Group Sec Merchandise S3 01
Group Sec Mining __ I.no 1 10
Group Sec Petroleum 1 on 110
Group Sec R R Equip _ 82 R9
Group Sec Steel _ _ .08 l’n.3
Group Sec Tobacco _ .on 09
Huron Holding __ 48 >.8
Incorp Investors 15 44 1R RO
Instl Sec. Bank Group . 1.114 1 15
Instl Sec. Insurance 1 15 ] rt7
| Investors Fd “C" Inc _ _ 8 70 0 -H
I Keystone Custodn B 2 ... 1 0 no "n flft
Keystone Custodn B 3 _ 17 84 13 *4
i Keystone Custodn K l _ 17 70 1.3 41
Keystone Custodn K 7 S 43 0 *\3
Keystone Custodn S 2 _ 17 70 13 35
Keystone Custodn S 4 4 08 4 51
Ma.tor Shrs Corp . 7 no
Maryland Fund __ 4 00 547
Mass Invest Tr 17.08 10 ns
Mutual Invest _ _ 0 84 in 53
Nation Wide Sec _ 2 83 2 7 3
Nation Wide Votine _ 111 1 «•
Natl Investors _ 4 87 4 07
New England Fund in 01 11 73 a
N Y Stocks. Bk Stocks 7 40 8 1 1
N Y Stocks. Bide Supply R 73 7 °9
N Y Stocks. Elec Eoaip R 44 8 0S
N Y Stocks. Insurance 8 05 8.7 1
N Y Stocks. Machinery 7.04 7 82
N Y Stocks. Oils „ 8 39 P ns
N Y Stocks. R R Equip _ R 07 8 .58
N Y Stocks. Steel 8 51 7.03
North Am Bond Tr ctfs 40 125
Nor Am Tr Shares 1053 1 02
Nor Am Tr Sh 1955 _ 2.30
Nor Am Tr Sh 1058 _ . . 2.28
Nor Am Tr Sh 1058 _ 1.08 “ „
Plymouth Fund Inc .35 .40
Quarterly 1 Income Sh 9.15 10 02
Schoellkopf-Hutton A: Pom .75 l 50
Selected Am Sh Inc. 8.31 9.06
Selected Income Sh _ .3.56 _ w
Soverewn Invest _ 81 87
Spencer Trask Fund_ 33.28 13 98
Stand Am Tr Shrs _ 2.00 2 30
Stand Util Inc _ .43 .46
Super of Am Tr A _ 2.78 ^
Super of Am Tr A A_ 1.&2
Super of Am Tr B _ 2.92 _ _
Super of Am Tr B B_ 1 82
Super of Am TrC_ 4 86 _
Super of Am Tr D _ 4 86
Supervised Shrs _ 8 45 9.18
Trustee Stand Inv C _ 2.10
Trustee Stand Inv D 2.06 _ I
Trusteed Am Bk **B" ._ .55 .R1
Trusteed Industry Shrs _ .79 89
Wellington Fund _ 11.84 13.07
FOREIGN MARKETS.
LONDON April "6 (>Pi.—Traders marked
time awaiting the presentation of the
budget to the House of Commons today
and trading In the stock market was on
a small scale. A fair demand developed
for gold mining shares and the trans
Atlantic and industrial sections together
with home rBils moved moderately higher.
Ollt-edged funds and oils remained steady
while rubber issues were inclined to sag.
PARIS.—Stock prices moved Irregularly
in the Bourse with the Industrial group .
showing a generally heavy tone and prices
inmost cases lower. Rentes finished 35
centimes down to 11R higher and Bank of
Prance Issue was off 140 francs. Both
Royal Dutch and Suez Canal closed about
100 franca down.

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