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Evening star. [volume] (Washington, D.C.) 1854-1972, June 06, 1938, Image 15

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CORPORATE BONIS
REGISTER GAINS
Utility and Rail Loans Are
Prominent, but Some
, Carriers Ease.
Bond Averages
3(1 1(1 1(1 10
Rails. Indust. Util. P gn.
Net change. —.1 —.3 unc. +.4
Today, close 51.2 96.2 90.1 61.7
Previous day 51.3 96.5 90.1 61.3
Month ago.. 55.8 97.0 90.8 63.0
Year ago... 93.7 103.4 98.2 72.3
1938 high... 70.5 98.0 92.2 67.0
1938 low_ 497 93.9 85.8 61.2
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 9 100.5
19 Low-Yield Bonds.
Close-108.2 Prev. day. 108.2
Month ago 108.4 Year ago. 111.0
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 by the Associsted Press.)
■» the Associated Press.
NEW YORK. June 6.—Utilities and
rails led a moderate upward move
ment In the bond market toward the
last hour today. Rails were mixed.
United States Treasuries were firm,
with advances running up to 9-32 and
®ne decline of 3-32.
International Hvdro-Electrtc 6s
gained about l1* points and American
A Foreign Power 5s about a point. In
ternational Telephone 5s and con
vertible 4'2s were up a half or more.
California Oregon Power 4s and Port
land General Electric 4'-2s were up
1 >4 or more.
Southern Pacific 4'2s of ’68 were up
• bout 2 points; the 4'2s of ’81 and the |
3\ of ’46 were each up about a point, j
Many other rails gained fractionally, ,
but some were off a bit.
Panama 6i2s Jumped 4 points and
Japan 6’ks nearly 2.
OPENS RADIO DRIVE
FOR RECOVERY ACTION
Launching a Nation-wide radio
campaign of six weeks to get Congress
to "remain in session until the job is
completed" and "to remedy the de
pression." Representative Finley H.
Gray, Democrat, of Indiana will speak
at 9 o’clock tonight over Station
WOL
In his series of broadcasts. Repre
sentative Gray announced he will be
hoard over more than 100 stations by
transcription.
"The apparent indifference of Con
gress to the emergency,” he said,
"justifies Nation-wide attention from
the people of this country demanding
positive action before adjournment.”
NEW YORK BANK STOCKS
NEW YORK June S '£8.—Investment
Bankers' Conference Inc :
(Quotations as of 2 o'clock.)
Bid Asked.
Bk of Am NTS ‘SFi (2.40) fii'i 424
Bk of Man (14) 21 224 I
tankers Tr (?) 414 4:i‘i !
Iclyn Tr < 4 > _ 71 7 It i
Cen Han Bk A- Tr i4i_ 7 0 82 i
Chase Nat (1.40' _ 274 29 4 I
ghem Bk A Tr (1.80)_ 38 40
ommercial (81 117 123
Cont Bk A Tr (.801 _ 11 12*4
Corn Ex Bk A T (3)_ 434 444
Empire Tr Hi 20 21
First Nat (Bos) (2) _ 34 4 364
First Natl (100* 1545 1585
Guaranty Tr H2) 217 217
Irving Tr (.60) _ 104 114
Manufacturers Tr (2> 34 4 36'*
Manufacturers Tr pf (2) 49 51
Rati City (1) . ... 234 244
N Y Trust 15)_ 79 83
Public (14* _ 23 24 4
Title G A T __ 54 64 1
BALTIMORE STOCKS
Bperlat Dispatch to The Star.
BALTIMORE. June 6.—
Sales. STOCKS High. Low. Close.
433 Arundel Corp 16', 164 164
850 Balro Transit pfd 14 14 14
2 Humphries Mf Co 4 4 4
75 Mfrs Fin 1st pf 7 7 7
sin Mar Tex Oil Co 2 2 2
150 Nor American Oil 14 14 14
30 Phillips Pkic pf 7n 70 70
12 Merch A Miners II 11 II
20 Pa Water A Pow 67 4 67 4 67‘i
S05 O S Fidel A Guar 11*. 114 114
BONDS.
*500 Balto Trans 5s B 81 81 81
4000 Finance Co Am 4s 99 99 99
-•
FEDERAL LAND BANKS
NEW YORK. June 6 (4*1.—Federal Land
Bank bonds: . , .
Bid. Asked.
4 4* Nov.. 1958-38 _ . 1014 102
4s July. 1946-44 _ 1114 1111*
34* May. 1955-45 .. 104 4 105
3s Julv. 1955-45 1034 1034
3s Jan.. 1956-46 1034 1034
is May. 1956-46 1034 1034
.-•
NEW YORK SUGAR.
NEW YORK. June 6 <>Pi.—Early ad
vances in sugar futures today were lost
later under liquidation and producer
hedging.
July No. 3 sold off from 1.87 to 1.83
and March from 1.96 to 1.92. with the
llat around the beginning of the last hour
1 point net lower to I higher. In the No.
♦ July and March eased from .96 to .954.
or net unchanged to 4 point higher.
Futures No. 3 closed 1 lower to 1 high
er. Bales. 38.050 tons.
High Low. Last.
July 1.87 1.82 1.83b
iw&gmbor _ 1.93 1,87 l.87b '
March *_ 1.96 1.93 1.92b ,
May 1.95 1.95 1.9ob
b Bid.'
METAL MARKET.
NEW YORK. June 6 UPi.—Copper steady;
olectrolyttc. spot. 9.on: export. 8.on. Tin
■ready spot and nearby. 38.6214: forward. '
«892t4 Lead steady: New York. spot.
4 00-4 05: East St. Louis. 3.85 • fine
ataSidj- East 8t. Louis, spot and forward.
4 00 Pig Iron No. 2. f.o.b. Eastern Penn
sylvania. 25.00: Buffalo 24.00; Alabama.
*000. Aluminum, virgin. 9S| per cent,
2000. Antimony, spot. 13.. 5. Quick
silver 82 00. Platinum pure. 33.00.
Wolframite. 16.00-18.00 nominal.
---•
V. S. TREASURY POSITION.
By the Associated Press.
The poiitton of the Treasury on June 3:
_. ' *25.310.636.80: expenditures.
?34 6?4 955 : balance. JfT.S0O.57R
*38 99: customs receipts for the month.
*'Receipts 'for the fiscal year■ (since July
,, *5 505-656.186.18: expenditures.
nnl 5"38209.55. including $1.9,5.350.
rrr 84 of emergency expenditures: excess
^Expenditures. *1.496.917.023.37: gross
slhf 0*37 384.613.326.es gn Increase of
Sftnn 456 65 above the previous day; gold
flguI *12 920.786.942.5'.
BOSTON WOOL MARKET.
mrurroN June « UP' (United Slates De
Agriculture).—Business in wool
®*r55?.eR<»ton market was very slow. Spot
on *,"• J?Jv. slow as mills had few very
wool, were ^ ne(,ds DirK;t purchasing
I^ry.mmg areas through Boston dealers
‘ann/ S?d« buyers was reported to have
This was caused, according to
by the refusal of growers, in
inceiaafni numbers, to accept recent bids
which, in many cases. were below the Gov
ernment loan basis.
8TEEL QUOTATIONS.
MEW YORK. June 6 1^. —Steel Prices,
per IPO pounds fob. Pittsburgh: Blue
annealed sheets, not rolled. 2.40: gal
vanised sheets. 3.80; black sheets, not
relied. 3.16: steel bars. 2.46.
ODD-LOT DEALINGS.
Bv the Associated Press.
The Securities Commission reported to
day these transactions by customers with
odd-lot dealers or specialists on the N. w .
York Stock Exchange lor June 4. 1.993
purchases Involving 55.517 shares: 1,834
tfifff Involving 50.003 shares.
MONTREAL SILVER.
MONTREAL June 0 i/P' —Oliver futures
opened unchanged. Bids: June. 42.75:‘
.July. 42.66: September. 41.00.
BONDS ON N. Y. STOCK EXCHANGE
j uy private vlre direct to Tne mar.
Approximate Transactions Today.
Domestic Bonds_ 2 760.000
Foreign Bonds.300.000
U 3 Govt Bonds..., 210,000
TREASURY.
High. Low. Close.
214s 1949-53_ 102. 102. 102.
29(8 1945-47_ 106.17 106.15 106.17
2940 1966-59_ 103.5 103.5 103.5
314* 1966-60_104.9 f04. 104.1
2s 1946-42 _ 108. 108, 108.
Is 1961-66 _ 106.18 106.16 106.18
314* 1949-52_ 108.16 108.16 108.16
3 14* 1943-45_ 110. 109.30 110.
314* 1944-46 ... 110. 109.31 110.
314s 40-43 June 106.25 106.25 106.25
314s 1941-43 Mar 108. 108. 108.
314* 1943-47 _110.15 110.15 110,15
4s 1944-64 _114.18 114.18 114.18
414* 1947-53_ 118.27 118.26 118.27
FEDERAL FARM MORTGAGE.
294* 1942-47_ 105.8 105.8 105.8
3* 1942-47_ 106.11 106.11 106.11
3* 1944-49_.• 106.13 106.11 106.11
314* 1964_ 106.29 106.29 106.29
HOME OWNERS' LOAN
2>4s 1942-44 .... 104.9 104.7 104.9
314* 1939-49_ 103.7 103 6 103.7
3* 1944-52 _ 106.20 106.20 106.20
FOREIGN BONDS.
High. Low. Close.
Antwerp 5a 68 — 92 92 92
Argentine 4s 72 Feb.. 80 80 80
Australia 4%* 5«_100% 100% 100%
Australia 5a 55_104% 104% 104%
Relglum 6s 55 _ 104 103 104
Belgium 6 %s 49_104% 104 104%
Belgium 7s 55 _111 111 111
Berlin Elec 6s 55_ 28% 28 28%
Berlin Elec 6%s 51_ 29% 29% 29%
Berlin Elec 6%s 59_ 29% 29% 29%
Brazil 6 %s 26-57_ 12% 12% 12%
Brazil 6 %s 27-57_ 12% 12% 12%
Brazil 8s 41 _ 14% 14% 14%
B A 4 % -4 % a 77 _ 54% 54% 54%
BA4%-4%8 76 Ag_ 56 56 56
BA4%-4*ia75_ 60 59% 60
Canada 2%* 44_101 101 101
Canada Ss 67 _ 98 97% 97%
Canada 3% 61_102% 102% 102%
Canada 4s 60_110 109% 109%
Canada 5s 6*_112 112 112
Chile 6s 60 _ 19% 18% 19%
Chile 6s 61 Sept_ 18% 18% 18%
Chile 6s 62 _ 18% 18% 18%
Chile 7s 42 _ 18% 18% 18%
Chile Mtg Bk 6s 61... 16% 16% 16%
Chile Mtg Rk 6s 62 . 16% 16% 16%
Chile Mtg Bk 6%s57. 16% 16% 16%
Colombia 6s 61 Oct... 14% 14 14
Cuba 5s 14-49 _ 104 104 104
Denmark 5%s55_100% 100% 100%
Denmark 6s 42 . 104 104 104
Dom'o 1st 5%s 69ext. 55% 55% 55%
French Gov 7%s 41 . 103% 103% 103%
Ger Gov 5%s 65 24% 24% 24%
Ger C Bk A 6s 60 Oct 30 30 30
Ger Gov 5 %s 65 tin st 21% 21% 21%
German Gov 7s 49_ 31 31 31
Grt C El .lap 7s 44 ... 69 69 69
Greek Gov 6s 68 _ 25% 25% 25%
HungCon M 7V>s 45.. 12% 12% 12%
Hung L M 7 % s 61 B .. 12% 12% 12%
Ital PUCrd 7s 62_ 62 61% 62
Japan 5%s 65_ 61 60 61
Japan 6%s 54_ 73% 73 73
Medellin 6%s 64_ 8% 8% 8%
Mlag Mill M 7s 56_ 26% 26% 26% ■
Milan 6%a 52 ... 61% 61% 61%
New So Wales 5s 57.. 102% 102 102%
Nord Ry 5%s 50_ 98% 98% 98%
Norway 4s 63 _102% 102% 102%
Norway 4%8 65 _103% 103% 103%
Oriental Dev 6s 63 __ 54% ' 54% 54%
Panama 5s 63 st asd— 42% 42% 42%
Panama 5 %a 63_ 90 90 90
Peru 6s 60_ 7% 7% 7%
Peru 6s 61 _ 7% 7% 7%
Poland 6s 40_ 45% 45% 45%
Poland 6s 50_ 43% 43% 43%
Prussia 6s 52_ 20 20 20
Queensland 6s 47_106% 106% 106%
Rhine W El P 6s 55... 30% 30% 30%
Rio de Jan 6%a 63.__ 7 6% 6%
Serbs 7s 62_ 31 31 31
Serbs 8s 62 _ 31% 31 31
Toklo 6 %s 61 _ 53% 52% 53V4
Tokto E L Ltd 6s 5S_. 54 54 54
ITJlgawa El P 7a 45_ 70% 70% 70%'
Uruguay adj 79_ 38% 38% 38%
Yokohama__ 55 55 55
DOMESTIC IONDS.
Alleg Corp 5a 44 __ SO', 604 604
Alleg Corp 5s 50 stu 18*. 18% 18%
Allis Chalmers 4s 62 105% 105 105'.
Am A For Pw 5s 2030 51', 504 614
Am T * T 3 % s 61_ 102% 1024 1024
Am T & T 3 % s $6_102'. 102 162
Am TAT 6%s 43 ... 1134 11341184
Am Wat Wks 6s 75 _ 94*. 94*. 94*.
Anaconda deb 4 4s 50 1044 104% 104%
Armourt Del) 1st 4sS5 94 94 94
Armour! Del Ms 67 94 94 94
A T&S Fe ad] 4s 95 st 84 84 ~ 84
A T&S Fe gen 4s 96 103 102% 103
A T&S Fe 44s 43 944 94', 944
A T&S FeC A 44s 62 100 100 100
A T&S F RMt dv4s 65 98% 984 98%
Atl Coast L 1st 4s 62 72 72 72
Atlantic* D 1st 4s 4S 244 244 244
Atlantic A D 2d 4s 41. 18 18 18
B A O 1st 4s 41_ 40% 404 404
B A O 4 4 8 60 _ 15% 144 15
B A O 1st 6s 4S_ 434 43 434
B A O ref 5s 95_ 19 184 19
B A O 5s 96 P _ 184 184 184
BAOrf 6s 2000 D.._ 184 184 184
B A O ref 6s 96 ... 21 204 204
B A O P1.EAW V4S 41 30 29 29
B A O Swn 6s 60 . 28 28 28
Bell T of Pa 6s 43 B 1174 1174 1174
Bell Tel of Pa 6s 60 C 1284 128', 1284
Beth Steel 34s 52 ... 92 91% 91%
Beth Steel 3%s 66_ 97 96% 96%
Beth Steel 44s 60... 104 103% 104
Bos A Me 5s 67 . . 26 26 26
Bklyn Ed con 3%s 66 105*. 105% 105%
Bklyn Man T 4 4s 66. 534 53 534
Bklyn Un El 6s 50_ 70 70 70
Bklyn Un Gas 6s 45.. 105 105 105
Bklyn Un Gas 5s 60 . 644 644 644
Bklyn Un G ref 6s 47. 99 99 99
Buff R&P cn 44s 57.. 23 224 224
Bush T Bldg 6s 60... 454 454 454
Jalif Oreg Pow 4s 66. 89% 89% 89%
Canadian NR «%s 51 114% 114% 114%
Janadtan NR 4 %s 56 115% 115% llb%
Janadian NR4%s57 114% 114% 114%
Janadian NR 4%s 55 117% 117% 117%
•an NR 5s’69 July rg. 116% 116% 116%
Jan Nat 5s 69 Oci 119% 119% 119%
Jan North 6%s 46... 124% 124% 124%
Jan'dlan P db 4s perp 79% 79 79
Janadian Pac 4%s 60 92% 92% 92%
Janadian Pac 6s 64_ 98% 98 98
Jent of Ga 5s 55 C_ 4 4 4
Jent of Ga 5%s 59 .. 4 4 4
Jent Pac 1st rf 4s 49. 75% 74% 74%
Jent Steel 6s 41 _115% 115% 115%
Jhes & O S %l 96 E_ 92 92 92 ^
J A O gen 4%s 92_112% 112 112
Jhi A Atl ref 3s 49_ 16% 16 16%
Jhi BAQ gen 4s *61_ 86 84% 86
Jhi BAQ ref 6s 71 ... 75% 75% 75%
C BAQ 111 dly 3%s 49 85% 85 85%
JBAQ 1 dlv 4s 49 ... 92% 92% 92%
Jhi A E 111 6s 61 ct_ 9 9 9
Jhi Grt West 4s 69 16% 16% 16%
JM&StP gn 3%s *9 B 21 21 21
J M A St P 6s 76 8% 8% 8%
JMStPAP adj 6a 2000 3 2% 3
Jhi A NW 4%s 2037.. 8% 8% 8%
Jhi A NW 4%« 49_ 4% 4% 4%
Jhi A SW 4%s 87_ 15 15 15
Jhi R 1AP rf 4S14 6% 6% 6%
Jhi R 1AP rf 4s 14 ct. 6% 6% 6%
Jhi R l&P gen 4s S3.. 17 16% 17
Jhi R 1AP 4%s 62 .. 6% 6% 6%
Jhi R l&P 4%s 62 ct. 6% 6% 6%
Jhi RI&Pcv 4%s 60.. 3% 3% 3^
Jhi Un Sta 3%s63.._ 104 103% 104
Jhi Un Sta 4a 63 D—. 104% 104% 104%
Jhllds* Co 6s 43_ 59 59 59
Jin Q A E 3%s 60 .. 106% 106% 106%
JCC&St L gen 4s S3_. 66% 66% 66%
Jley Un Ter 4%s 77.. 74% 74% 74%
Jlev Un Ter Is 73_ 79% 79 79
Jolo F A I 6s 70 -- 44% 44% 44%
Jol Q A E 6s 53 May.. 88% 88% 88%
Jol Gas A Fleo 6s 01. 88 87% 87%
Jolum Ry PAL 4s *6. 108 107% 108
Jomcl Cred 2%s 42 .. 102 102 102
Jomd Credit 3%s 51. 99% 99% 99%
Jomwlth Ed 4s II F 108% 108 108
Jomwlth Ed 4%s 67D 111% 111% 111%
Jomwlth Ed 6s 63 A.. 110% 110% 110%
Jomlth Ed 5s 64 B . 110% 110% 110%
Jons Ed N Y 3%s 40. 103% 103% 103% '
Jons Ed N Y 3%s 50. 103% 103% 103%
Jons Ed(NY)8%s 61. 102% 102 102
Jonsol 011 3 Ms 61 100% 100 100%
Jonsum Pwr 3%s 60. 102 101% 101%
Jonsum P un 3%s 66 105 105 L05
Jonsum Pwr 3%s 67. 105% 106% 105%
Jonsum Pwr *%s 70 105% 106 105
Jrown C A S 4s 50 _ 103% 103% 103%
Juba Northn 6%s4*. 33% 33% 33%
Jay ton PAL 8 %S 60. 108% 108% 108%
Jel A Hud ref 4B4»_. 83 32% 82%
3 A R O W rf 6s 7*_7% 7% 7%
>t Edison 3%s 66_ 108 108 108
Hlah. Low. Cloie.
Dot Edison 5a 62_107% 107% 107%
Duquesne Lt 1 %s 56. 109% 108% 108%
Else Auto Llta 4a 62.. 102% 102% 102%
Erie gen 4s 9*_ 22 21% 21%
Erls lat 4a 96_ 40 40 40
Erie raf 6s 67_... 12% 12% 12%
Erie ref 5s «_-12% 12 12
Fed LtATr 6s 42_ 94% 94% 94%
Fla EC Ry 6s 74 et.. 4'f 4% 4%
Fonda JAG 4s *2 Iliad 1% 1% 1%
Fond JAG 2s 4a 12 et. 2 2 2
Gon Am Iny 6a 52.... 102% 102% 102%
Oan Mot Aco Is 46_104% 104% 104%
Gan. Mot Ace S%s 61. 103% 103% 103%
Gen Stl Cast 6%a it. 39% 38% 39
Goodrich 6a 46 . 93% 93% 93%
Goodyear TAR 5s 67 106% 106 106
Goth Silk H 6a 46 vv 81 81 81
Grt Nr Ry 2%a 67 ... 63% 63% 63%
Great N Ry 4a 48 G— 85 83% 83%
Grt N Ry 4a 46 H 76% 76% 76%
Grt Nr Ry lat 4 % a 61 102% 101% 102%
Grt N R 6 %s 62 .. 87% 87 87
Gulf Sta Otll 4a 66 . 103% 103% 103%
Gulf Sta Util 4%g 48. 103% 103% 103%
Hsr Ry PC 1st 4s 64. 55 55 i>5
Hudson Coal 6s 62 A. 23 22% 23
Hud A Man Inc 6s 67. 16% 16 16%
Hud A Man raf 6s 57 . 48V. 48% 48%
III Ball Tel t%s 70 B 109% 109% 109%
111 Cent ref 4s 66_ 41% 41% 41%
111 Cent 4%s 66 31 30% 30*4
ICCASt LN0 4%s It 32% 32% 32%
ICC A St L N O 6a 62. 36 35 36
Inter R T 1 rf 6s 61_ 51 50% 51
Inter RT 6s *2_ 18% 18% 18%
Inter R T 7a 22_ 50 49 50
Int Grt Nr 8a 62_ 15% 15% 15%
Int Hydro El 6a 44 .. 67% 67 67
Int Mer Marine 6s 41. 38% 38% 38%
Int Pap lat 5a 47_ 88% 88% 88%
Int Pap raf la 66 _ 81 80% 80%
lnt TAT cy 4 %s 29_* 93% 92% 92%
Int TAT 4 V,a 62_ 65% 65 65
Int TAT 6s 56 _ 68% 68 68%
Jonea A L Stl 414s II. 94 93% 93%
Kan City 8o rf 6s 60.. 64% 54% 54%
KanaC Ter 1st 4s 10. 105% 105V. 105%
Keith’s 6a 46 _ 85% 85% 85%
Koppera Co 4a 61 H13 103 103
Kresge Found 2 %s 47 94% 94*6 94%
Laclede G 6%s 63 ... 53 53 53
Laclede G 6%s 60 D__ 62 52 52
Lake SAM S 2 %a 97.. 86 86 86
Lautaro Nit 1976a_ 29% 29% 29%
Leh Val Coal 6a 64_ 22% 22*4 22%
Leh Val Coal 5a 74 .. 22% 22% 22%
Leh V Peon 4s 2002.. 17% 17% 17%
Loew’a !%a 46_ 100 99% 99%
La A Ark 6s 69_ 71 70*. 71
LAN unlf 4s 40_100% 100% 100%
L A N 4 %s 2002_ 78% 78% 78%
LAN 6s 2003 B_ 87 87 87
McKessARob 5%s 60 100 99% 09%
Manhat Ry 4a 90 .. 25 25 25
Market St Ry 7a 40_ 80 80 SO
Mead Co 6s 45 _ 99 99 99
Met Ed 4%s 62_108% 107*. 108
Mil El RAL 6a 61 .. 102 102 102
Mil El R A 8 L 6s 71.. 101% 101% 101%
MStPASSM 5a 32 . 8% 8*. 8*.
MStP&SSM 6a II gtd 11% 11% 11%:
Mo K AT lat 4a 90_ 53% 52 53V.
Mo K A T 6s 62 A ... 37% 36% 37 !
Mo K A T ad] 5a 67_ 14% 14% 14%
Mo Pac 4s 75_ 6 6 6
Mo Pao 6s 77 F_ 17% 17 17
Mo Pac 6a 71 G_ 17 17 17
MoPac6%s49 ___ 444
Mohawk & M 4s 91.. 51% 51% 51%
Monong Pub S 6s 66.. 92 92 92
Mont Pwr 346s 66 92% 92% 92%
Morris*Essex 4 %s 6! 36 35% 35%
Natl Dairy 3%s61ww 101 100% 100%
Natl Dta PC 44a 46. 105 105 105
Natl Steel 4a 65 _. 106% 106'i 1064
Newark C Gas 6s 48.. 118V. 118'. 1184
New Eng RR 4s 45 28 28 28
NewET&T44s61 . 1214 1214 1214
New B TAT 1st 6s 62 122% 122% 122%
New Jer PAL 44a 80 1074 107 107
New Orl PS 6s 62 A.. 95% 95 95%
New Orl PS 6s 66 B 94% 94% 94%
New Orl TAM 6s 64 B 26% 26% 26%
New Orl TAM 6%s 64 28% 27 28%
NOTAM 64s 64 ct... 244 244 244
N Y Central I Vis 52__ 574 57 57
NY Central * 4s 97_ 774 774 774
NY Central 3%s 46_ 654 654 654
N Y Cent con 4s 98 .. 564 56 564
N Y Cent rf 44s Z013 46 454 454
N Y C rf 44s 2*13 n..< 46 454 454
N Y Cent rf 6s 2013.. 504 50 50
NY C L Sh 34* 02 _ 55 55 55
NYC Mich C 3 4s 9*.. 64% 64% 61%
NYCASt L 44» 78 . 31 29% 29%
NYC&St L 54s 74 A. 35% 35 35
NY Chi A St L «s 38 .. 43 42% 43
NY Conn 1st 4 4s 63. 1024 1024 1024
NY Conn 6s 53_ 106 106 106
NY Dork 4s 51 55Vi 55 55
N Y Edison 3 4 a 66 D 1054 1054 105V*
NY G E) HAP os 48 . 122 122 122
NY L A W 1st 4s 73.. 644 644 614
NY NH AH 4s 65 .. 12 12 12
NY NH A H 44s 67.. 14 14 14
NY NH & H cv 6s 48. 14 14 14
NY OAW ref 4s 92_ 8 8 8
N Y Rys 6s 5S stpd... 974 97 97
NY Steam 5s 51_ 105 105 105
N Y Tel 3 4 s 67 __ 107 1064 107
N Y Tel sen 4 4s 39.. 1054 1054 1054
NY WAB 4 4s 46_ 3% 3% 3%
Niag LAO 6s 65_ 108 108 108
Niag Sh 54s 50_ 864 864 864
Norf So 6s 61 _ 10 10 10
North Am Co 6s 61... 104% 104 104
North Am Ed 5s 69 C 102 102 102
North Am Ed 64s 63 1034 103% 103%
Nor'n Pae gn3.« 2047ri 47% 47 47%
North Pac 4S 97 79 78% 79
North Pac 6s 2047 C.. 53 53 53
North Pac 6s 2047 _. 61 60 60>%
Ogden L C 4s 48 std._ 5 5 5
Ohio Edtson 3%s 72 — 974 97% 97%
Ohio Edison 4a 85 ... 101*. 1014 101*.
Ohio Edison 4s 67 . 1014 1014 101%
Okla Gas A El 4s 46.. 100% 100% 100%
Oreg W RR 4s 61 ... 954 95% 95%:
Pac Coast 5s 46_ 47 47 47 j
Pac Gas A El 3 4a 66 103 1024 103 I
PacGAE3%s81_. 1074 1074 1074
Pac G A E 4s 64 110% 110% 110% r
Pac TAT rf 3%s 66 B 104% 104% 104%
Pac TAT SVis 66 C .. 105% 105 105%
Panhand EPL 4s 62 . 101% 101% 101%
Penn Dixie C 6s 41 A. 824 82 82
Penn PAL 4%s 61_ 98% 974 98
Penn RR SVis 52_ 714 70% 70%
Penn RR 3 % s 70_ 83 824 824
Penn RR 4s 4* _109% 109% 109%
Penn RR 4 4a IT- 87% 86% 87
Penn RR 4%a S<, 87% 87% 87%
Penn RR con 4 4s 60 112% 11241124
Penn RR gn 44s 65 . 93 92% 924
Penn RR deb 4 4s TO. 774 764 764
Penn RR gen 5s 66 .. 1004 100% 100%
People GLAC 5s 47_ 1074 1074 1074
People G LAC 6s 43.. 1144 1144 1144
Pere Marq 44s *0... 654 554 554
Pere Marq 6s 66 - 594 59Vi 594
Phelps Dodge 3 4* 62 106 106 106
Phlla BAW 4 4s 77C. 105 1034 105
Phils Co Se 67 _ 914 90% 90%
Phlla Elec 3 4s 67 . 1084 1084 1084
Phlla A R CAP 5s 73.. 11 11 11
Phlla A R CA1 6s 49.. 3% 3% 3%
Philippine Ry 4s 3T__ 174 164 17%
PCCASt L 4 4s 77._ 91 91 91
Pitts CA144s52_ 78 > 78 78
Port Gen El 4 4* 60 . 59 67 59
Porto Rico A T 6s 42. 404 404 404
Postal Tel A C 6s 63.. 104 104 104
Purity Baking 6s 48.. 91 91 91
R-K-O 6s 41 _ 664 664 664
Reading Jer C 4s 61.. 52 52 52
Reading K 44a 97 A 65 644 644
Rem-Rand 4V4s 68ww 944 94 94
Republic Stl 4 4a 61.. 834 82% 834
Republic St! 6 4a 64.. 105 105 105
Bafeway Store* 4a 47 103 103 103
Saguenay Pw 4%s 68 102% 102% 102%
8t LIMAS RAG 48 ti. 46 46 46
St L R M A P 6a 6S_ 56 56 66
BtL-San Fr 4a 60 A._ 9% 9% 9%
StL-San Fr 4%s 718% 8% 8%
StL-S F 4%a 7* ct st_ 7% 7% 7%
St L-S Fran Es 60 B„ 10% 10% 10%
St L S F 6s 60 B ct_ 8% 8% 8%
St L S W 1st 4s 89_ 46 46 45
St L S W rf 5s 90_ 11% 11% 11%
St L S W 1st ter 6s 53 16% 15% 15%
StPUn Deprf 6s72_. 114 114 114
San An P Sto 8s 62_113 113 113
8eabd A L 6s 46 A_ 6% 6% 6%
Seabd A L 6s 46 ct._ 5% 5% 5%
Seabd A-Fl 6s 86 A ct 3 8 3
Shell Un deb 8 %a 61. 102% 102% 102%
Simmons Co 4s 63_ 86 86 86
Shelly 011 4a 51_101 100% 101
Socony Vac 3%e 60._ 107% 107% 107%
So Bell TAT 8%s 68-. 104% 104% 104%
Southn Cal Gas 4s 66. 108 108 108
So Colo Pwr 6s *47 A. 95% 96% 95%
Southn Kraft 4%s 46. 87% 86% 86%
South Nat G 4%s 61_. 97 97 97
SoPac3%s46 . 49% 48% 49%
So Pae col 4a 49 41% 41 41% >
So Pae ref «s 66 66 66% 66
So Pae 4%a 68.w 39 38 38%
SoPae4%s69_ 39 38 39
8oPae4%a8l.. 88% 37% 38%
So PaeOreg 4%a 77... 45% 45 45%
So Ry gen 4a 66 A_ 30% 30% 30%
SoRy 6s 94 _ 54 53% 53%
SoRy gen 6s 66__ 38% 38% 38%
So Ry 6%e 66- 41 40% 41
SoRy MAO 4a 26_66% It 66
Rich. low. Close.
Staley A E 4s 46- 104 104 104
Stand Oil Nlh 61— 103% 103% 103%
Studebaker cv 6a 48.. 64% 64% 64%
Swift A Co* % a 60_107% 107% 107%
Twin CAC 6a 44- 100% 100 100
Tenn El Pw 6a 47 A__ 93 92% #2%
Texas Corp I Ha 61106 106 106
Texae A Pac 6a 77 B-. 74 74 74
Third Av raf 4a 60_30% 30% 30%
Third Av 6s 37_ 89 87% 89
Third A ad 6a 60_ 7% 7% 7%
Tide Wat 011 3 %a 63. 103% 103% 103%
Un Eleo(Mo)3%a62.. 108% 108% 108%
Un OH Calif 3%s 62.. 107 107 107
Un Oil Calif 6s 42 A._ 118% 118 118%
Union Pac3%a70_ 89 88% 89
Union Pao 1st 4s 47-- 110 110 110
Un Pac rf 4a 2008 _101 100% 100%
Un Pac 1st 6s 2006... 112% 112 112
United Biscuit 6a 50. 108% 106% 106%
Utd Cgr W Sirs 6a 62. 73 73 73
United Drug 6s 62_ 69% 67% 67%
US Rubber 6a 47 .. 105V* 106% 106V*
Utah Pwr A Lt 6a 44. 85 85 85
Util P A U 6s 69 _ 48% 48% 48%
Util PA L 6%s 47_ 48% 48% 48%
Va E A P 4s 65 A-109% 109V* 109%
VaRy 1st 3%a 66- 103% 102% 102%
Wabash 6%a 76_ 7% 7% 7%
Walker HAS 4%a 45. 104% 104% 104%
Walworth 4s 65 56% 56% 56%
Warner Bros cv 6a 29 72 72 72
Warren Br cv 6s 41 4t% 40 41%
Wstchr Dt gn 3%s 67 102 101% 101%
West Penn P 3 %s 66. 109% 109% 109%
W Sh 1st 4s 2361 rg . 60 50 50
WVa PulpAP 4 %s 62. 104 104 104
Wast Md 1st 4S 62 78% 78 78%
Westn NYAP gn 4a 42 101% 101% 101%
West Pac 6s 46 A as.. 18% 17% 18%
West Un 4%s 60_ 56% 56 56%
West Un 6a 61. _ 58% 68% 58%
West Union 6s 60._ 67% 56% 56%
Wilkes BAE 6s 42_ 4% 4% 4%
Wilson A Co 3 %a 47.. 86% 85% 86%
Wilson & Co 4s65 _ 99 99 99
Wise Pub Svc 4s 61_105% 105% 105%
E'ngatn SAT 4s61_ 100 99% 100
INSURANCE SHARES GO
HIGHER DURING WEEK
Special Dispatch to The Star.
NEW YORK, June 6.—Insurance
stocks in the New York City market
scored moderate gains during the last
week, according to records compiled
by Hoit, Rose A Troster.
The aggregate market value of 20
leading fire and casualty insurance
issues on June 3 amounted to *504,
497,000, compared with *497,933,000
at the close of the previous week, an
increase of *6,564,000, or 1.32 per cent.
The current average yield of the 20
issues is now 4.57 per cent, compared
with a yield of 4.63 per cent on May
27. The current market value equals
95 per cent of reported liquidating ’
value, compared with 94 per cent a
week ago.
Washington Produce
Butter—WO score, 1-pound prints, 26 V
tuo. 20 V. U-pound prints. 2 7*2: W2 score,
1-pound prints. 2»; Vpound prints. 2W.
Meats—Choice beef. 17: calves. JO;
lambs. 17; veal. 17; sows, 1W; fresh pork.
25; pork loin. 25; fresh ham. 22: large
skinned hams. 18; large smoked skinned
hams. 18; smoked skinned bacon, 21;
smoked ham. 25: sliced bacon, 2W: piece
bacon, 25; compound 11: lard. IhV
Livestock—Pigs. 120-140 pounds. 7*4*
7V light pigs. 140-lOn pounds. TVTV
100-200 pounds. 734aX: heavies. 200-226
pounds. 7‘,2a734 250-500 pounds. 7 l4a
734; sows, 8,aa7V stags, 5a0; calves,
9-*4a 1 o 3 4.
(Prices paid shippers—net f o b., Wash
ington). Bythe United States Bureau of
Agricultural Economics:
EGGS4—Market stronger and cent
higher on Government graded eggs. Near
by ungraded eggs about, steady and un- j
changed. Premiums being paid on occa- !
sional lots of ungraded whites. Govern- j
ment graded and dated eggs, whites.
U. 8 extras, large. 28V U. 8. extras,
mediums, 22V U. 8. standards, large. 25:
U. 8. standards, mediums. 20. Nearby
ungraded eggs: Current receipts, whites.
20 to 21: mixed colors. 1M to 20.
LIVE POULTRY—Market steady. Prices
unchanged. Fow’l: Colored, heavy. to
20; No. 2s 15 to 10: Leghorns. 15 to 10;
roosters, 12. Chickens; Virginia Rocks,
broilers. 2 pounds and less, 20 to 22;
fryers. 20 to 22: roosters. 21 to 25:
No. 2s. 15 to 10; Delaware Rocks and
crosses, broilers. 2 pounds and less. 20’
to 2IV fryers. 2©,a to 21V roasters.
22 to 25: No. 2s. 10 to 17: mixed colored
fryers. 1, to 20; Leghorns, broilers. j*a
pounds and less. 15 to 10: 134 pounds
and up. 17 to 18. Turkeys: Old hens,
20 to 21; old toms. 17: No. 2s, 15.
fruits and vegetables.
Sales in large lots by original receivers
up 10 s a m loday:
APPLES—No carlot arrivals: one broken
car on track. Market steady. Bushel
baskets. U. S. Nb. 1—Maryland. Pennsyl
vania. Virginia and West Virginia Wine
saps. ‘.’-inch minimum. 50-00: 2',-inch
minimum. 7 5-90: 2 In-inch minimum. 90
1.00; ‘I’^-lnch minimum 1.35-].35: Stav
mans. 2‘,«-inch minimum. 05-75: 2'r-inch
minimum. 1.00-1.1(1; Lowry* 2',-inch
minimum 50-80; 2'a-inch minimum. 75
8n: Paragons, 3‘i-inch minimum 80-85:
2Va-inch minimum 75-R5. Boxes and
canons—Pennsylvania and Virginia. U. S.
fancy. Paragons 113s-IORs 1 00-1 35;
100a and larger. 1.25-1.35: Delicious
13ns-138a. 1.35-1.50; 113s. 1.40-1.00;
OOs-lOOs. 1.75-3.00; Paragons. 113s-13Ss
1.15- 1.25: Whs-100s. 1.50-1.75; Romes.
113s-l :ths 1.15-1.35; 80s-100s. 1.50
l .o: U. S. No. 1 Wines*ps. 1031-175s,
1.15- 1.25: 138s-150s. 1.25-1.50/ 113s
I'-os l.aO-1.85: yOs-1 Otis. 1.90-2 00:
Pippins. 100»: 90-1.00: J12s. 1.15-1.25:
90s. 1.35-1.50: Delicious 144s 1.25-1.35;
! ljfs-125s. 1.35-1.50; lOils and larger.
1., .1-3.011,
_ POTATOES—Market slightly stronger.
Old stock—No carlot arrivals: one broken
car on track. Maine, luo-pound sacks.
Green Mountains. U. S. No. 1. 1.90-3.00
New stock—No carlot arrivals: one broken
and three unbroken cars on on track.
Cobblers. U. S. No. 1. North Carolina, loo
pound sacks. 1.50-1.80; stave barrels.
CANTALOUPES—Market slightly strong
er. Three California arrived: two broken
cars on track. California Salmon Meats,
standard^ 45s. 4.50-4.75; jumbos 38s and
ponys. 54s, 3.50-4.00.
HONEYBALLS—One California arrived;
“^ broken car on track. Market steady.
California, standards 45s. 4.50: jumbos,
'f«s and 4os, 5.00-5.50: ponys, 45s 3 50
sfhAWBERRIES-Truck receipts very
lghtfnaFIt*t slightly stronger. New Jer
-x-qt. crates, various varieties. 4.00
ARPARAGUS—Market steady Truck
'■cefiPts moderate: pyramid crates, dozen
SHEf N.ew J*rse>'. very large size.
2i2£,"J-o l,Hf* sl“‘ 2.50-3.75: medium
Size. 2.26-2.50: small size. 1.50-3.00;
Delaware, very large size, 1.50-2.50, ac
cording to quality.
CABBAGE—Market steady. Truck re
ceipts light: South Carolina, lVg-bushel
hampers, pointed type. 50-75.
CARROTS—Market steady. One Cali
fornia arrived: two broken and one un
broken cars on track. California. West
ern crates, bunched. 3.00-3.50.
'MaJkei steadF- One Alabama
arrived: one broken car on track. Btand
ard cC*te»: Alabama, falf quality, 1.00
1.25: Florida. !.25-1.50.
CAULIFLOWER—Market steady. Three
California arrived; two unbroken cars on
f/gck. California, crates, mostly around
CELERY—Market steady. One Califor
nia, one Florida arrived: six broken and
Jve unbroken cars on track. Florida
Florida standard crates. individually
washed. 3 dozen. 2.50: 4 dozen. 2 75
LOO; 8-10 dozen. 3.0013.50: California,
jne-half crates, individually washed and
nrecobled. 2 Vi dozen. 3.60.
Lettuce Market Improve!.
LETTUCE—Market alightly stronger,
nve California arrived; three broken and
three unbroken cars on track. California.
cr,at,es- Iceberg type. 5 dozen.
1.50-4.75: fair condition, 4.25: New Jer
c/atcs. Iceberg type. 2 dozen, 1.50.
ONIONS—Market steady. Two Texas
irrived' one ear diverted: one broken and
>ne unbroken cars on track. Texas. 50
jound sacks, yellows. U. S. No. I, 1.50
1,80: small size. 1.15-1.25.
CUCUMBERS—Truck receipts moderate:
narket about steady. Florida, bushel bas
kets. medium to large size. 2.50-2.75.
PEACHES—Market steady: truck re
;eipt« moderate: North Carolina. Vi-bdshel
jaskets U. 8. No. 1. Earlv Rose and Red
Sirds. 2-lnch minimum, fair quality. 50
1.00: few higher; Hileya. U. 8. No. 1,
2-tnch minimum. 1.75-12.25.
PEAS—One California arrived: two bro
ten and one unbroken cars on track;
narket steady. Florida. Tom Watsons. 34
(6-pound average. 75-80; 22-24-pound av
irage. 35-40 each.
SQUASH—Florida. buahel hampers,
white, wrapped. 1.00-1.25.
FOREIGN EXCHANGES.
NEW YORK. June 8 m.—With mar
kets abroad closed for the Whitsuntide
holidays, foreign exchange dealings were
sluggish today, and revisions in the terms
jf the dollar were mostly downward
Sterling dropped Va of a cent and tha
French franc .00Va of a cent. The belga
and Swiss franc east lost .00% of a cent,
while Holland guilders were .01 of a cent
higher.
Noon rates follow:
Oreat Britain in dollars, others, in
cents: Orest Britain, demand, 4.04%:
cables. 4.04 Y.: BO-day bills. 4.8.1%;
France, demand. 2.77%; cables. 2.77%;
Italy, demand. 5.28%; cables, 5.28%.
Demands—Belgium. 18.93%: Germany,
40 17' benevolent. 21.25; travel, 33.76;
Holland, 58.31 .Norway. 24.88: Sweden.
;5.51: Denmark, 22.09: Finland. 2.20;
BwyaerlJHSd, 22.77%: Wain, unquoted:
Portugal 4.50: Greece. .91; Poland, lf.87;
Czechoslovakia, .147%; Yugoslavia. 2.35;
Austria, unquoted: Hungary. 19.85: Ru
mania, .75: Argentina, 32.98n: Brazil
flrzei- 5 00n; Toklo.- 28.84: Shanghai
ML VOLUMES
SAG MR CENT
U. S. Trade Barometer Off
Sharply After Minor Drop
in March.
Special Dispatch to The Star.
NEW YORK, June 6.—After only a
minor drop from February to March,
the United States trade barometer
slumped to 70.8 (preliminary) for
April, losing 3.2 points in the month.
This position of the barometer indi
cated that consumer spending was
running 23 per cent lower than in the
1928-1932 period, and 19 per cent
lower than in, the corresponding month
of 1937,
Trade barometers for the United
States and for each of the 29 regions,
into which it is divided, are computed
by Dr. L. D. H. Weld, director of re
search of McCann-Erickson, Inc., and
published monthly in Dun’s Review.
Based on bank debits, department
store sales, new-car registrations and
life insurance sales, these barometers
reflect trends of consumer spending.
According to the regional indexes,
trade volume in March compared un
favorably with that of last year in all
sections of the country. Percentage
declines from March,. 1937, ranged
from approximately 8 per cent in the
Memphis and New Orleans regions to
33 per cent in the Cleveland and De
troit areas, with the majority— 17 of
the 29 regions—down 20 per cent or
more. This contrasted, with the record
of March, 1937, when trade volume in
every region was higher than that of
the year before and, in 17 of the 29
regions, by more than 15 per cent.
utrnnea uespue caster.
“The stimulus to trade usually af- !
forded by Easter purchasing failed this j
year to stem the downward drift of!
the index of consumer spending." the
text accompanying the charts of
these indexes in the current issue of
Dun’s Review points out. “With sea
sonal adjustment, but without correc
tion for the influence of Easter, the
United States trade barometer declined
from 79.4 in March to 76.8 in April
< preliminary». Three of the factors in
the index were higher in April, but
with advances smaller than those
usually made at this season of the
year; the fourth factor, bank debits,
failed to make any gain during the
month.
“April consumer expenditures, which
included a substantial volume of Eas
ter trade, still fell below April, 1937,
when Easter trade was past and gone.
The best that can be said is that the
month showed up better than March
did, in comparison with the corre
sponding period of last year. In March
the trade barometer was 23 per cent
lower than in March, 1937. while in
April it was down 19 per cent com
pared with April, 1937.
“A truer indication perhaps of the
extent of spending, in comparison with
the past, will be revealed by a review
of the March-April indexes of recent
years. At 78.1, the average for these
two ijionths in 1938 was considerably
below composites for the same months
in 1937 and 1936; about 3 per cent be
low these months in 1935.
“As in industrial activity and pay
rolls, the curtailment in consumer
spending was somewhat sharper in
this recession than in the last one.
Prom March, 1929, the peak month
of the period, to April, 1930, the trade
barometer fell 13 per cent. Prom
March, 1937, the high month for this
cycle, to April, 1938, the barometer
dropped 26 per cent. Price declines,
of course, afTected the dollar-volume
figures, but in both recessions these
occurred at about the same rate, as
the N. I. C. B. cost of living index fell i
1.4 per cent in 1929-39 and 1.3 per
cent in 1937-38."
SUGAR CONSUMPTION
ESTIMATE IS REVISED
Secretary Wallace announced a re- !
vised estimate of sugar consumption
for the calendar year 1938 of 6.780,566 j
tons, as the quantity which will give
consumers of sugar in the continental
United States a per capital consump
tion equal to that of the two-year
period 1935-6. specified in the act.
The previous estimate of consump
tion, issued on December 20, 1937, was
6.861,761 short tons. Regulations con
taining the revised estimate of con
sumption and necessary changes in
sugar quotas will be issued shortly.
At the same time the Secretary an
nounced that a supplement to Gen
eral Sugar Quota Regulation, series 5,
No. 1, would be issued shortly, real
lotting the deficit of 53,883 short tons
of sugar in the quota of the Common
wealth of the Philippine Islands, in
accordance with the provisions of
section 204 (a) of the Sugar Act of
1937. This section of the act directs
the Secretary of Agriculture to pro
rate to foreign countries other than
Cuba (the full duty paying countries)
the amount of any deficit in the quota
of the Philippine Islands.
---- ,
RETAIL ADVERTISING
DOWN 10.1 PER CENT
Special Dispatch to Tha Star.
CHICAGO. June 6.—For this year
through May 28, retail display adver
tising volume was 10.1 per cent below
the corresponding period of last year,
according to a report released here
today by Advertising Age, national
advertising newspaper.
Newspapers in 80 Important mar
kets which are measured by this report
showed a total of 406,967,728 lines for
'.he period reported against 452,884,851
lines for the comparable period of last
rear, a loss of 45,897.123 lines. Against
1936, this year shows a loss of 3.8 per
sent.
Due partly to delayed summer
weather, retail display linage for the
seven-day “period ended with the date
-eported amounted to 19,352,525 lines
’or the measured cities against 22,685,
266 lines for the compared week of
1937, a loss of 3,332,741 lines or 14.7
per cent.
ONE-SIXTH HAVE PIANOS.
CHICAGO, June 6 (Special).—One
>ut of every six American families
jwned a piano In 1937, according to a
recent survey. Two of every live of
these Instruments were between 15
snd 60 years old.
LIQUOR TAXES SHOWN.
The Distilled Spirits Institute esti
mated that the liquor business pro
iuced $1,022,275,727 of revenue for
Federal, State and local governments
last year.
MONEY MARKET.
NEW YORK. June 6 i/Fi.—Call money
iteady: 1 per cent all day. Prime com
mercial paper, 1 per cent. Time loans
iteady: 60-90 days, . 1; 4-6 months. 1
Mr cent. Sinkers acceptances unchanged;
80-90 day*, (4 **v per cent; 4 months.
A-tk per cent: 8-6 months. %-A Per
:ent. Rediscount rate, NewWork Reserve
Bank, 1 per cent.
SIGNS OF STEEL
Average Operations Down
to One-Quarter of Plant
Capacity.
Pr the Associated Press.
CLEVELAND, June 6.—The Nation'*
*teel maker* faced the new week today
with average operation* at one-quarter
of capacity and no sign* pointing
toward improvement, the magazine
Steel said.
"AH indication* in the steel Industry
point to continued dullness and no
factors have appeared to furnish a
basis for expectation of improvement,”
Steel said.
Consumers continue to avoid mak
ing commitments beyond immediate
needs, the magazine reported, and the
light buying now being done is for
completing broken assortments.
"Practically complete absence of
automotive and railroad buying, usu
ally important supports, accompanied
by much less than normal demand for
structural steel, not only removes large
tonnage demand, but collateral in
dustries depending on these for outlet
are also held back,” the publication
said. "Automobile and railroad ac
cessory manufacturers find little busi
ness except for repair* and replace
ments."
The magazine said steel makers “are
also suffering from delays in Govern
ment approval of contracts for cargo
ships and railroad cars purchased un
der loans.”
The operating rate on a national
average slipped 3 points last week
to 25.5 per cent of capacity.
The reduction was due largely. Steel
said, to declines at Pittsburgh and
Chicago. Pittsburgh lost 4 points and
dropped to 18 per cent, Chicago
dropped 6.5 points to 22.5 per cent.
Eastern Pennsylvania 1 to 26, Wheel
ing 3 to 38, New England 3 to 27, Cin
cinnati 6 to 22 and Youngstown 6 to
21. St. Louis gained 6 points to 39.3
and Cleveland 5 to 31. Buffalo was
unchanged at 21, Birmingham at 69
and Detroit at 18.
The composite price for scrap
dropped to $10.75 last week, a loss
of 58 cents from the previous week.
The iron and steel composite lost 6
cents to $38.38 on the basis of second
quarter quotations and the $37.55 on
third-quarter basis. The finished steel i
composite was steady at $61.70 for the
second quarter and $59.80 on the
new bases.
NEW YORK. June fi <-$»).—Opera
tions in the steel industry for the
current week will advance 0.1 of one
point to 26.2 per cent of capacity, ;
_
compared with 36.1 per cent last week,
the American Iron and Steel Institute
estimated today.
A month ago operations were at the
rate of 30.4 per cent of capacity, while
a year ago they were 76.2 per cent.
LUMBER PRODUCTION
AND SHIPMENTS LAG
St the Associated Press.
The country’s lumber industry re
ported today production, shipments
aijjl new orders during the week ended
May 28 were "appreciably lower than
a year ago.”
The National Lumber Manufac
turers’ Association estimated produc
tion for the wgek was 53 per cent of
the 1929 weekly average. Shipments,
reflecting orders, were 55 per cent of
the 1929 weekly average.
During the week ended May 28,
519 mills reported production of 177,
701.000 board feet, shipments of 178,
038.000 feet and orders of 171,057,000.
The week previous 560 mills reported
production of 188,111,000 feet, ship-|
ments of 199,322,000 feet and orders
of 184,553,000 feet.
REALTY FORECLOSURES
IN CITIES DECREASE
By the Associated Press.
Real estate foreclosures in metro
politan cities declined 23.2 per cent
during the first four months of this
year, compared with the similar period
of 1937, the Federal Home loan Bank j
Board reported.
- .. . i
PHILADELPHIA PRODUCE, '
...PHILADELPHIA, June 6 OP).—Potatoes.
Yn£inilLcol^ler*; A°2«lb#k* 3fl5; Poorer!
1.00, barrels, 2.66-<5; North Carolina
cobblers. 300 lbs . 1.40-60; barrels. 2 60;
sweet Potatoes. New Jersey type and reds.
S(M 006*90, Dclaware> whlte J*m*' b^.*
»DR€a)GDO
Engravers an fFinePrintcrg
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Syotom mod Fodoral Dopant
la turan co Corporation.
Money to Loan on First Mortgages
We Have
Money
Available
for loan with which to BUY,
BUILD or REFINANCE a
home in the District or in
nearby Maryland or Virginia,
arranged as
3-Year Straight Loan or Monthly Payment FI :
Each has its advantages,
making its appeal according
to individual requirements.
Ask us about them.
B. F. SAUL CO:
National 2100925 15th St. N.W.
Over 45 Years of Experienced Service
REAL
ESTATE
LOANS
Avail yourself of the services and
facilities of an experienced
building association
ESTABLISHED 64 YEARS
• REAL ESTATE LOANS and
COUNSEL TO HOME BUILDERS
Applications are Invited lor loans on improved '
real estate In Washington and Arlington
County. Va. No commissions—No renewals
necessary—Interest charged only on unpaid
balance of principal monthly.
• SHARE ACCOUNTS
Thousands of people have availed themselves
ef the opportunity to accumulate substantial
savings reserve by opening share accounts with
us.
Consult any of our officers tor information,
No obligation is Involved and toe tout be glad
to diseuss your problems with you.
OfRctrt
Milton H. Promo ri
Chairman of tho Board
ch”'vJs£raa‘
Arthur C. Balter
1
I Gmr M. NHlr
1 TrtMnrcr
Director*
John E. Merrner
Clarence T.
Denohoe
Chatham K.
Towers
Thomas 8. Serseon
Chao. A. Bossiter
Dr. William C.
Farmer '
Charles H. KteAle
Smericati JButHring association
300 Pennsylvania Ave. S.E.
ASSETS ARE NOW OVER $10,000,000
Telephone Lincoln MM vndtt a. t. omunmtwt iwtraiOM.

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