Evening star. [volume], August 08, 1939, Page A-16, Image 16

About Evening star. [volume] (Washington, D.C.) 1854-1972

Image provided by: Library of Congress, Washington, DC

                
Gibbons Heads
House Committee
Of Capital A. I. B.
Chapter's New Quarters
In Security & Trust
Building Refurnished
Frank Gibbons, jr„ of Riggs
National Bank has been appointed
by Frances E, Robey, president of
the Washington Chapter. American
Banking, as
chairman of the
House Commit
, tee of the chap
I ter.
Mr. Gibbons, a
graduate of the
American Insti
tute of Banking,
has served as
consul and on
committees of
the chapter.
The new quar
ters of the chan
ter. including the
Mr. Gibbons. offices and class
rooms. have been completely re
furnished. The committee an
nounces it has extended an invita
tion to visit the chapter rooms and
inspect the new headquarters on
the fourth floor of the American
Security and Trust Building.
Members of the committee in ad
dition to the chairman, are as fol
lows: William A. Barnes, Security
Savings and Commercial Bank; E.
B. Heilig, American Security and
Trust Co.; Raymond H. McGivenn,
National Savings and Trust Co.;
Thomas Page Nelson, Riggs Na
tional Bank.
N. L. R. B. Takes Jurisdiction.
Of vital importance to banks of
the country is the controversy pre
cipitated by the decision of the Na
tional Labor Relations Board, which
held that the national banking sys
tem is subject to jurisdiction of the
board.
The Bank of America, defendant
In the case, which was ordered to re
instate an employe it had dismissed,
announces it will appeal the case
to the Supreme Court if necessary.
This is the first instance, officials
of the N. L. R. B. explained today,1
where this board has extended its
authority to cover banks.
Opinion differs as to how far
reaching the decision may be, or
whether it will be sustained by the
courts. The conservative Wall Street
Journal, however, goes so far as
to predict that if the board is sue- .
cessful in the courts, the ruling
“will not only bring all national
banks under the control of the
Labor Board and similar regulatory
agencies, but may also bring all
State banks under that jurisdiction.
If, as the board contends, an insti
tution is made a part of interstate
commerce because it acts as a me
dium of exchange for money and
credit, the application would be as
sound if applied to State banks as
to national banks.”
Decision 13 Pages Long.
An important point in the decision
was interpreted to be the position
taken by the board that the bank
was not an instrumentality and
agency of the United States Gov
ernment. On the other hand the
bank had contended that because
it was such an instrument it was
not an employer within the meaning
of the Wagner Labor Relations Act. j
Tire decision of the board in the !
case is 13 pages long, single spaced, j
as mimeographed by the board. It j
goes somewhat comprehensively into ;
the board's description of a bank, :
and its “interstate commerce.”
“It is a matter of common knowl- j
edge,” says the board, “that the com
mercial bank, of which the respond
ent is an outstanding example, is
the primary medium in the com
mercial system of the United States
for the transfer of money credits
from one portion of the country to
another, and between the United
States and foreign countries. * * *
Commerce without payment for the
goods moved in commerce would im
mediately fail. The commercial bank
is the medium that supplies the
mechanism for making that pay
ment as well as the credit, in the
form of loans to the purchaser,
that makes prompt payment pos
sible. * * *
State Case Involves Bank.
“The credit system and the use
of bank checks as a medium of ex
change lie at the very base of our
economic life and are indispensable
to the continued flow of commerce
among the several States and with
foreign countries. Practically all
commercial banking activities arise
in connection with the buying and
selling of commodities and services.1
Banking is the life blood of com- i
merce and the cessation of banking
operations in this country as a re
suit of industrial strife would have !
dire consequences on the flow of
commerce among the several States
and with foreign countries."
A State case involving a bank is
that of the Bank of Yorktown,
which is before the New York State
Labor Board, for alleged violation
of the State's labor act. w-hich is
somewhat similar to the Wagner
Labor Relations Act.
Affairs of the closed Park Savings
Bank were brought another step
toward a finish today as James C.
Wilkes, special master, began hear
ings on final details of a court order
signed July 25. About $500,000
pledged by directors of the bank be
comes available for distribution, in
addition to remaining assets of the i
institution in the hands of a re
ceiver.
Sales of two issues were reported
on the Washington exchange today.
Five shares of Washington Gas
Light Co. preferred at 10714 were
bought, as were eight shares of
Riggs Bank common stock at 275.
The Riggs purchase was made after
call.
Jersey City Livestock
JERSEY CITY. N J.. Aug. 8 OPi (V. S
Department of Agriculture,'.—Cattle. 60
salable: total, 320. Steers fairly active and
steady: one load choice 1.305-pound Penn
sylvanias. with two out. topped at 9.50:
one load good 1,417-pound Canadians at
9.00 and one load medium. 1.308 pounds
at 8.50. Cows steady: medium. 0.00-6.50]
odd head. b.,n: cutter and common. 4 75
5.25: canners 3.50-4.50. few at 3 00
Bulls slow, steady: cutter to good sausage
kinds. 5.00-6.75. few 7.00.
Vealers and calves. 120 salable; total.
l.OoO. Vealers active, steady to strong:
choice 165-pound nearbys. 11.50: good
140-pounds. 9.00: cull to common. 84
pounds. 7.50; one deck 270 pounds me
dium to good calves. H.oo.
Hogs. 40 salable on New York market:
total. 3.290. Market 5 higher: good to
choice. 192-pound average. 6.85: good to
choice. 210 pounds. 6.75.
Sheep and lambs 450 salable: total,
*010. Lambs fairly active, steady; one
part deck country graded. 9.5n; one load
good to choice. 70 pounds 8.90: common.
61-62 pounds. 6.00-7.00. No sheep on sale.
Russian farmers are taking up
flying.
A
TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE
D7 rnraie nire uucci i« xuc owr.
Prev. 19.19 Stock and Sales— , Net
High. Lew Dividend Rate. Add 00. High. Low. Close, chge.
45 3114 Acme Steel (2)_ 5 37% 37 37
11 6% Adams Exp <.10g)_. 11 8 8 8
25 19% Adams-Millis .75g— 2 23% 22% 22% - H
65% 45% Air ReductlonOa) 2 52% 52% 52%-%
10 6% Alaska Juneau .65g. 21 7% 7% 7%
1% % Alleghany _ 14 % % % + %
14% 6 Alleghany $30 ww . 2 8 8 8 — %
19 8 Alleghany prior pf 1 12 12 12 + %
28% 14 Alleg-Ludlum Steel 2 17% 17% 17%
193 151% Allied Chemical (6) 1 170% 170% 170%
11% 6 Allied Stores _ 7 8% 8% 8% + Vs
70% 54% Allied Stores pf (5) 4 69% 69% 69% - %
48% 28 Allls-Chalm <.50g)_ 4 34% 34% 34% - %
2% 1% Amalg Leather_ 1 1% 1% 1%
36% 16% Am Airlines _ 6 32% 31% 31% - %
60 60 Am Bank N of (3).. 60s 54 54 64 - %
8 3% Am Bosch - 1 5% 5% 5% + %
135 125 Am Br Shoe pf 5.25. 30s 138 138 138 +3
103% 83% Am Carr (4) _ 6 102% 101% 102 + %
35 17% Afn Car & Foundry. 2 21 21 21
55 32 Am Car & Fdry pf.. 1 34% 34% 34%
24% 13% Am Chain & C .30g. 2 18V. 18V* 18%+%
11% 5% Am Corne l Alcohol 3 7% 7 7% + %
10% 6% Am Crystal Sugar 1 8% 8% 8%
78 61 Am Crystal S pf (6) 10s 76 76 76
19% 10 Am & For’n P $6 pf 2 * 16 16 16 - %
24% 12% Am & For'n P $7 pf 4 21 20% 21 + %
9% 5 Am & For'n P 2d pf. 2 8% 8 8 + %
15 12 Am Hawa’n SS (1). 1 13 13 13 + %
5V* 2% Am Hide* Leather 10 4% 4% 4% + %
55 41% Am Home Prod 2.40 3 54 53% 53%
3% 1% Am Ice __ 2 2% 2% 2% — %
25 14% Am Ice pf _ 2 24 24 24 + %
30% 14% Am Locomotive_ 3 17 17 17
79% 43 Am Locomotive pf. 1 47 47 47 +2
15% 11 Am Mach & Fy .80.. 1 12% 12% 12% - %
40% 26% Am Metal (.50g)_ 9 28% 27% 27% — %
7 3% Am Power & Light 27 5% 5% 5% + %
45 28 Am P&l.$5pf 1.875k 17 43% 42% 42%+ %
50% 32 Am P&L$6pf 2.25k 11 48% 47% 47% + %
18% 10% Am Radiator .. 30 11% 11 11 — %
22% 11% Am Rolling Mills 8 14% 14% 14% + %
72% 50 Am Rolling Mills pf 2 65 65 65 - %
15% 11% Am Safety Raz 1.20 1 12% 12% 12% - %
53% 35% Am Smelt & R 1 50g 10 45% 45 45
140% 129% Am Sm & R of (7).. 2 138'% 138% 138% + %
153 146% Am Snuff pf (6)_ 10s 153 153 153
41 20% Am Steel Foundry.. 7 25% 24% 24% - %
14% 8V« Am Stores <.25g)._. 3 13% 13 13 - %
14% 9 Am Stove 4.55k)_ 1 14% 14% 14%+ %
22% 15% Am Sugar Refining. 2 16% 16% 16%
170% 148 Am Tel & Teleg (9) 7 167% 166% 166% - %
87% 73 Am Tobacco (5) .. 1 84% 84% 84%+ %
89% 75% Am Tobacco (BW5) 4 86 85% 85%
153% 147 Am Tobacco pf (6). 1 151% 151% 151% + %
14% 8% Am Water Works . 25 12 11% 11% + %
94 78 Am W W 1st pf (6.. 1 96 96 96 +2
’•> x x.o-» mu nuoien PI . ... t bb 3b 3b — %
"% 4% Am Zinc ... 4 5% 51+ 51*
36% 20% Anaconda (.75g) .. 49 26% 26% 26% + %
27% 13% Anchor Hoc G1 30g 27 26% 26% 26 + %
15% 8% Andes Copper ,25g . 1 11 11 11 + Vx
29% 21 Arch-Dan-Mid ,75g_ 1 27% 27% 27%
121% 116 Arch-Dan-M pf (7) 10s 117 117 117 + Vi
105 97 Armour(Del) Df (7) 3 102 102 102
6% 3% Armour (111) . 9 4% 4 4
52 33% Armour (111 1 pr pf. l 37% 37% 37% - %
58 33% Armstr'g Cork ,75g. 2 41 40% 41 + %
38 30 Assoc Invest (2)_ 1 37 37 37
42% 23% Atch Toil & S F 21 27% 26% 26% - %
71 51% Atch T&SF pf 3.50e 2 53% 53% 53% -1
30% 15 Atl Coast Line _ 4 18% 18% 18Vx - %
23% 18% Atl Refining (1) .. 9 19% 19% 19%
110% 104% Atl Refining pf (4). 1 108 108 108 +2
9% 7 Atlas Corp (.25g)._. 2 9 9 9
48% 43% Atlas Corp pf (3) .. 2 48 47% 48 + Vi
66% 50% Atlas Powder (lg). 4 53% 53 53% -1%
4% 1 % Auburn Auto (r)_ 1 1% 1% 1% _ x4
8% 3% Aviation Corn . .. 23 4% 4% 4% + %
17% 9% Baldwin Loco ctf»_. 11 11% 11% 11%+ v>
8s. 4% Balto & Ohio _ 5 5 4% 4:,
10% 5 Balto & Ohio pf_ 2 6% 6% 6% — %
21% 10% Barber Asphalt_ 4 12% 12 12% + %
19% 12% Barnsdall (1) ... 26 13% 13 13 - %
25% 15% Bayuk Cigar (.75).. 7 24% 24 24 + V*
28 17 Beatrice Cre (la)... 2 26% 26% 26%
128% 113% Beech-Nut (4a) . 2 127% 127% 127% -1
29% 16% Bendix Aviat’n 50g 7 24% 24% 24% — Vi
21% 17% Beneficial L'n 90g.. 1 20% 20% 20%
57%. 38 Best Co (1 60a)_ 5 40% 40% 40%+ %
80 50% Beth Steel (,50g)._. 39 61 59% 60%+ %
18 15% Beth Stl 5% pf (1). 2 17% 17% 17%+%
115 99% Beth Steel pf (7)... 2 114% 114% 114% + %
17% 8%. Blaw-Knox - 9 10% 10% 10%
34% 17% Boeing Airplane .. 11 21% 20% 21% + %
59% 51 Bon Ami (B) 2.50a. 70s 58% 58% 58% - %
22 12% Bond Stores (.80).. 1 19% 19% 19% _ ^
22 16% Borden Co (,90g)._. 11 21% 21% 21%
32 18% Borg-Warner .50g_. 8 24% 24 24 — V4
7% 5% Brewing Corp 30g_ 17 7 7 _ xs
15% 8% Bridgeport Brass _ 7 10% 10 10 — %
31%- 16% Briggs Mfg (.50g)_. 10 22% 21% 21% - %
14% 7% Bklyn-Man Transit. 11 13 12% 12% — %
48% 27 Bklyn-Man Tran pf 2 46% 45% 45% + %
13% 5% Bklyn & Queens pf. 1 12% 12% 12% — %
30% 13% Bklyn Un Gas ,25g.. 11 28% 28 28 + %
18% 9% Brunswtck-B .60g_. 2 17% 17 17%+ %
13% 7 Bucyrus-Erle_ 4 9% 9% 9% + Vx
8 4 Budd Mfg _ 3 5% 5% 5%
55% 29% Budd Mfg pf- 80s 41% 41 41%+ %
5% 3 Budd Wheel . _ 1 4% 4% 414
34% 21% Bulova Watch (2)_. 1 29% 29% 29% - %
19% 11% Burllngt’n Mills (1) 7 18% 18 18% + %
18% 11 Burr’s Add M .30g__ 1 13% 13% 13%+ %
2% 1 Bush Terminal 2 1% 1% 1% — Vs
74 2.S'o Rvprs ▲ nf 8 Sir 7f\ 7f) nr\
20% 13% California Packing 1 184 184 184
24 % Callahan Zinc _ 3 1 1 1
8% 5 Calumet & Hecla_ 1 54 57* 54
20% 12 Canada Dry ... 12 184 184 184 + 4
64 34 Canadian Pacific 7 4 4 4
20'-j 134 Carpenter Stl(.65g) 2 16 16 16
1224 110 Case (J 1 >Co pf (7) 20s 1184 1184 1184 + 4
55 384 Caterpillar Trae<2) 5 43% 43 434 - 4
1074 102 Caterpillar T pf (5) 3 102 102 102
294 13% Celanese Corp . 24 274 264 264 + 4
1094 84 Celanese pr pf (7) 380s 109% 109 109% t-14
194 10 Celotex Corp 3 114 11 n
724 64 Celotex Corp pf (5) 100s 66 66 66 +14
224 184 Centr'l Aguirre 1.60 3 19 19 19 - 4
54 2% Central Foundry 2 34 34 34 — V,
527* 32 Cerro de Pasco(3g) 8 357s 354 354 — 4
13 64 Certaln-teed _ 5 74 7 7
474 224 Certain-teed pf 10s 28 28 28 -+ 4
102 98 Champ P&F pf (6). 20s 99 99 - 99
404 27 Ches&Uhin <2> .. 7 354 34% 34% — %
4 4 Chi M StP* P (r)._ 10 % % %
1 % Chi & Northwn ir). 13 4 4 1,
34 14 Chi & Northw pf (r) 1 1% 1% 1% — vi
20V* 10 Chi Pneu Tool 3 134 134 134
14 % Chi RI&P 6% pf (r). 1 % % % _ 4
85V* 53% Chrysler <2.50g) .. 82 814 79% 804 + %
14V, 9 City Ice & Fuel ,60g 1 124 124 124
974 79 City Ice & F Df 6.50. 90s 92 914 914
307s 204 Cleve Graphite (1). 4 284 284 284 +4
604 34% Climax Molyb 1.20 4 414 40% 414 — 4
354 214 Cluett Peabody .50g 4 32% 32 32
133 114 Coca-Cola (2g)- 1 1314 1314 1314 4. 4
62 58 Coca-Cola (A J (3) __ 1 604 604 604
174 114 Colgate-Pal-P 1 50) 24 164 164 164
234 14 Colum B C(A)1.05g. 21 23 22V* 23 +1
234 14 Colum B C (B) l.Oog 1 22% 22% 22%+ %
9 54 ColummaGas& El 53 74 74 7% + 4
91 74Vi Col G&E of A (fcl 6 874 87 874 + %
304 23% Colum Pic pf (2.75) 1 26 26 26 — 4
94 73 Columb’n Carb (4). 1 924 924 9274 - Vi
57 38% Cornel Credit (4)... 1 45% 45% 45% — 4
60 42 Cornel Inv Tr (4)... 3 534 53 53 - %
13% 9 Cornel Solvents 21 11 10% 104
31% 25% Comwlth Edis 1.20g 39 304 30% 307s + 4
24 lv* Comwltb>&South’n 43 1% 1% 1%
724 45% Comwlth & S nf (3 ) 16 71 70 704 - V*
30% 19 Congoleum C50g)__ 1 25% 25% 25% + V*
254 17 Consol Aircraft 22 21 20% 21 +1
84 5% Consol Cigar (.75g) 1 8 8 8 +1
35 27 Consol Edison (2).. 49 334 324 33 + 4
1084 101% Consol Edis pf (6) 1 1084 1084 108'i +1
124 84 Consol Film pf .50k. 1 114 114 1114 + 4
74 4% Consol Laundries.. 1 64 64 64 — Vi
94 7 Consol Oil (.SO)_ 15 74 74 74
164 94 Container Corp _ 2 10% 10% 10%
224 114 Conti Baking (A).. 3 164 15% 15% — 4
44 324 Conti Can (1.60g)._. 11 39% 39 39 — 4
374 294 Conti insur 11 80a). 5 35% 35% 36%+%
1 I Nfc Pnnf I Mntnr 7 OIL Oi, 01/
31% 20% Conti OllCDel) ,75g. 23 21 20% 20%-%
29% 16% Conti Steel (.BOg) . 2 27% 27 27 - %
59% 49 Corn Exchange (3). 100s 56 55% 55% — %
66% 54% Corn Products (3). 3 61% 61% 61% + %
4% 3% Coty Inc (new)_ 10 4% 4% 4%
2% 1% Coty International- 5 1% 1% 1% - %
38 19% Crane Co - 6 21% 20% 20% — %
110 93 Crane Co cv Df (6) 1 103% 103% 103% -1%
32% 26% Cream of Wh’t(2) n 2 32% 32% 32%
41% 20% Crown Cork & Seal. 5 26% 26% 26%+ %
14% 9 Crown Zeller ,376g 2 10 10 10
47% 24% Crucible Steel _ 2 32 32 32 + %
6 2% Cuba RR nf _ 40s 3% 3% 3%
65% 49 Cuban-Am S nf _ 10s 50 50 50
49 38 Curtis Pub pf 751c__ 2 46% 46% 46%
7% 4% Curtiss-Wright . 21 5% 5% 5%
28% 19% Curtiss Wr(A) ,60g. 3 25 24% 24% + %
24% 13% Cutler-Hammer — 2 18% 18% 18% + %
8% 4% Davison Chemical.. 1 6 6 6 + %
24 15% Deere * Co _ 2 19 18% 18% — %
25% 12% Del & Hudson_ 6 16% 16 16% — %
8% 4 Del Hack & Wn ... 5 5% 5 5
34% 28 Diam'd Match 1.50.. 1 33% 33% 33% + %
9% 5% Diamond T Motor.. 1 6% 6% 6% — %
20% 15% Distillers-Seagllg). 3 18% 18% 18%
34 30% Dome Mines (2) ... 1 33 33 33 + %
78% 56 Douglas Aircraft... 8 67% 67 67% + %
135 101% Dow Chemical (3)_. 1 125 125 125 -2
19% 9 Dunhlll internatl.. 1 10% 10% 10% + %
164% 126% Du Pont de N 2.50g. 13 161 159 161 +2
142 129% Du Pont deb (6) 2 132 132 132 -1%
118% 115% Duauesne 1st pf(B). 20s 117% 117% 117%
20 12% Eastern Air Dines . 13 19% 19 19 + %
186% 138% Eastman Kodak (6) 2 171 170% 170% + %
27% 15% Eaton Mfg (1.50g)_. 5 26 25% 26
38% 22% Elec Auto D(1.25g) 13 36 35% 35%-%
16% 8% Elec Boat 1.30g)... 2 10% 10% 10%-%
3% 2 Elec & Music <.09e) 1 2% 2% 2%
12% 6% Eleo Pwr & Bight.. 25 9% 9% 9%
38 18% Elec Pw & Dt $6 pf. 11 32% 31 31 + %
41% 20% Elec Pw & Dt pf_ 32 36% 34% 35
37 28 El Paso Nat O (2).. 6 35% 35% 35%
111 103% Endicott-J pf (5)_ 60s 107 107 107 + %
13% 7 Eng Pub Service— 49 13% 12% 12% + %
1% % Eault Office Bldg_ 1 % % % — %
13 6 Evans Products_8 8% 8 8% + %
1
* rev. ja.iu atoci ana Sales— Net
High. Low. Dividend Rate. Add 00. High. Low. Close, chie.
2b I Exchange Buffet_ 1 lb lb lb + b
6b 2b Fairbanks Co pf_„. 20s 6 6 6
43b 24 Fairbanks*Morse_ a 33 32b 32b + b
17b 11 FedLt&Trao- 33 ]8b 17b 17b + b
6 2b Fed Motor Trunk... 8 3b 3 3 - b
3b b Fed Screw, _ 2 lb lb lb
lb b Fed Water Svc (A). 7 111
37b 27b Fidelity Phoe 1 «0a. 1 35b 35b 35b - b
105b 99b Firestone pf <«) ... 1 105 105 106 - b
61 38b First Natl Strs 2.50. 1 49b 49b 49b + b
31b 16b FllntkoteCo _ 8 20 19b 19b - H
108b 103b Food Mach pf(4.50) 30s 107b 107 107
29b 14b Foster Wheeler_ 6 19b 18b 18b — b
4 2 Gair (Robert)- 2 2b 2b 2b - b
» Gamewell Corp- 20s 10b 10b 10b
18b 12b Gaylord Cont (1)_ 2 12b 12b 12b — b
9 5b Gen Am Invest ... 2 7b 7b 7b — b
60b 40 Gen Am Tran 1.126g 6 50 50 50 -1
11 8b Gen Baking (,30g). 1 8b 8b 8b
18 9 (Jen Cable . 1 lib n’t lib
44b 31 Gen Electric (,60g). 41 37b 36b 36b - b
47b 36b Gen Foods (2) ... 18 47 46b 47 + b
99 72b Gen Mills (2.876g). 5 89 87 89 +3
127 117 Gen Mills pf (6)_ 60s 122 122 122 -2
51H 36b Gen Motors (2.25g) 75 48b 47b 48 + b
6b 4b Gen Outdoor Adv... 1 4b 4% 4b _ b
28 14 Gen Rwy Signal .. 2 16 15b 15b
32b 16 Gen Steel Cast pf .. 20s 20 20 20
18b 13b Gen Telephone (1). 3 17b 17b 17b
15b 9b Gen Thea Eq ,50g _. 2 lib lib lib
27b 15b Gen TlreARub ,5(lg. 4 2lb 21 21b + b
8b 5b Gillette Saf R i.6U) 7 6b 6b 6b + b
64 44 Gillette S R pf (5).. 3 52 51b 51b - b
13b 7b Glmbel Bros_ 3 8b 8b 8b
24b 14b Glidden Co _ 3 17b 17 17 — b
24b 13b Goodrich (B F) ... 43 18b 17b 18b + b
74b 53 Goodrich! BF)pf(6) 1 66b 66b 66b - b
38b 21b Goodyear (,75g)._. 26 28b 27b 28 + b
109b 90 Goodyear pf 16>_ 2 104b 104b 104b - Vi
lb b Graharn-Patge _ 16 b b b
7b 4b Granhv Cons! 15c) 3 7 7 7
16b 11 Grand Un pf (1.25k) 5 16b 16'i 16b + b
20 10 Granite City Steel . 1 13b 13b 13b — V4
34b 24b Grant (WT) (1.40). 5 34 33b 34 + b
31b 16b Great North’n pf 23 25b 25 25b + b
16b 12b Great No O cfs 76g. 2 14b 13b 13b + b
28 24 Great Wn Sug (2).. 1 25b 25b 25'/«
21b 14b Greyhound (801 _ 16 18b 18 18b - b
22 11 Gulf Mob & Nor pf. 1 18 18 18 -2
15b 8 Hall (W Fi Prtc 6 14b 14b 14b
17b 15 Hamilton W (,75g). 1 16b 16b 16b
103 96 Hanna (M )pf (61 _ 20s 102b 102 102 b + %
4b 2 Haves Body 12 3 2b 3
13b 8b Hecker Prod ( 60a) 4 12 12 12
86 63 Hercules Powd 80c 5 75'-) 75 75
31% Holland Furn 1.50*. 5 39% 39% 39'i - Vi
66% 60% Homestake <4 60> 4 64% 64 64% + %
17% 8% Houd-Hersh(B) 26* 1*12% 12% 12% + %
8% 4% Houston Oil . 3 5% 6% 5%
f-5% 40 Howe Sound (3) . 2 51 50% 51 + %
35% 25% Hudson Bay (.75*). 9 34% 34% 34% - %
8% 4% Hudson Motor _ 4 5% 5% 5%
2% % Hudd Motor _ 5 1 V, "i - Vi
20% 9", Illinois Central __ 11 12% 12% 12% — %
35 16% Illinois Central of— 2 22% 22 22 + %
29% 16% Industrial Ravon . 1 25% 25% 25% + %
119 86 In*ersnll R'd 3.50*. 1 107 107 107
94% 67 Inland Steel 1.50*._ 2 77 77 77
17% 9% Inspiration Copper. 4 12% 12% 12%
9% 3% Interboro RT (r)._ 9 4% 4% 4% - %
33Vi 17% Inter Chemical _ 4 31% 31% 31%+ %
108 90 Interchem pf <6)_ 30s 108 108 108
15% 7% Interlake Iron _ 6 9% 8% 9
3% 1% lntl Agricultural... 1 1% 1% 1%
195% 155 lntl Bus Mach (6a). 4 187% 185% 187% +1%
66% 48 lntl Harvester 1.60. 9 52% 52 62% + %
1641 v 157% lntl Harvest pf (7). 1 166% 166% 166% +1
8% 3% Inti Hydro-El (A).. 11 6% 6% 6% - %
4% 2% lntl Mercantile Ma. 2 2% 2% 2% + %
55% 42% lntl Nickel (2t .. 20 49% 48% 49% + %
14% 6% lntl Paper A Power 4 9% 9% 9%
61% 26% lntl Paper A Pw pf. 7 34 33% 33%
9% 5% lntl Tel A Tele*_ 8 6% 6% 6%
9% 6 lntl TAT for ct ... 3 6% 6% 6%
14% 8% Interstate Dept St 1 10% 10% 10%+ %
10% 7% Intertype Co (,20g). 1 8% 8% 8% - %
105 65% Johns Manvllle 5 73% 72% 72% — 1%
11% 5% Kansas City Sou_ 1 7% 711 7% — %
18 12% Kavser (J) (1*1 ... 1 16% 16% 16% - %
44% 28 Kennecott Cop .7 5*. 49 36% 35% 36% — V*
13 8% Keystone Steel .45* 1 12 12 12
30% 20 Kimberly-Clark la. 1 28 28 28
3 1% Klnnev (G R) 1 2% 2% 2%
24 12% Kinney *5 pf (.50*) 20s 22% 22% 22%-%
l6% 20 KresseiS S)< 1 20). 6 26% 26 26%+ %
29% 24 KresslS H)(l 60) . 1 28 28 28 +1
29% 20% Kroger Groe 1.60a.. 5 27% 27% 27%
13% 7 Laclede On ... 20s 10 10 10
23% 13% Laclede Gas pf ... 80s 19% 18% 18% — %
18% 14 Lambert Co 1.125*. 2 16 16 16 - %
35% 25 Lee Rub A T 1.25*.. 2 32% 32 32%+%
118 113 Leh Port C pf (4).. 20s 115 115 115 -1
% % Leh Valiev Coal ... 5 % % %
27% 20% Lehman Corp .60*.. 7 23 22% 22% — %
32% 23 Lerner Stores <2) . 3 30% 30% 30% +1%
66% 36% Libbey-Ow-F 1.50*. 3 50% 50% 50%+%
6% 4% Lihbv McN A Lib 3 5% 5 5 — %
42% 34% Life Savers (1.60a). 1 43% 43% 43% +1%
109% 99% LIee A Mv'BlMa) 2 109% 109 109%+%
180 171% LIee A Myers pf<7) 2 179% 179% 179% + %
47 31% Link Belt (.75g)_ 1 38 38 38
20% 12% Lion Oil Ref (1) . 1 13 13 13
19 13% Liquid Carbide .60* l 16 16 16
54% 35 Loew's Inc (2a)_ 3 43% 43% 43%+%
21% 6 Loft Inc 139 19% 18% 18%
62 41% Lone Star C (3)_ 4 50 49 49 - %
i-* LjUUK-r>eil IA) ... A <;*» — 4*
224 17 Loose-Wiles (,75g) 1 184 184 184
24% 194 Lorlllard (1.20) . 2 234 23 4 234
1594 1474 Lorillard pf (7) 10a 1564 1564 1564 - 4
131 124 Mac And&F pf (6) 10a 1324 1324 1324 +24
304 184 Mack Trucks 5 214 214 214
434 304 Macy(RH)Co 1.50* 4 314 314 814 -4
194 13 Madis Sq Gar 1.10g. 2 14 134 134 - %
384 254 Magma Copper .75* 2 324 324 324 — 4
14 1 Manatt Sugar 2 1 1 1—4
144 5 Man Ry mod gtd(r) 7 13 12% 13 + 4
54 44 Marine Midl’d .32*. 88 54 44 54 + %
154 94 Marshall Field _ 8 14 134 134 - 4
394 274 Martin (Glenn) ... 20 324 314 32 + 4
36 224 Math Alkill (1.60).. 8 22% 22 224 - 4
524 40% May Dept Str* (3).. 3 524 524 524 -4
364 274 Maytag Co pf (3)_ 1 28 28 28 + 4
154 104 McCall Corp (1)_ 2 154 154 154 - 4
144 94 McCrory Strs_ 16 144 144 144+ 4
24 15% McGraw Elec (1)_ 3 234 23 23 -t- 4
594 494 McIntyre Pore (2)_ 1 584 584 584 +4
18% 84 McKeesport Tin_ 4 12 114 12 +4
614 46 Melville Shoe (3)_ 2 62 614 62 +4
284 144 Mengel Co 6% pf... 20s 174 174 174 +4
12% 64 Miami Copper ... 1 84 84 84 —4
164 114 Mid Cont Pet (.25*) 3 13 124 124
304 18% Midland Steel (lg). 3 28 274 274 + 4
854 55 Minn-Hon Ros (2).. 2 56 554 56 +4
114 110 Minn Hon pf B (4). 50s 114 1134 114
2% 14 Mo-Kan & Texas- 2 14 14 14
94 4 Mo-Kan * Texas pf 1 44 44 44 + 4
24 4 Mo Pacific pf (r).__ 2 1 1 1-4
17% 10% Mohawk Carpet- 1 154 154 154 — 4
111 854 Monsanto (2) 1 1034 1034 1034 + 4
121 115 Monsanto C pf 4.50. 90s 1174 1174 1174
1224 118 Monsanto pf B 4.60 20s 121 121 121 - 4
55% 404 Montgom Wd (1*). 34 514 50% 514 + %
19 94 Motor Products 3 13% 134 13% + %
16% 10 Motor Wheel (1.60) 2 16 16 16
30 164 Mueller Bras.40g._. 1 224 224 224 - 4
9Vi 54 Nash-Kelvlnator — 7 64 6% 6% + 4
154 94 Natl Acme _j 1 104 104 104 + 4
144 7% Natl Aviation .60g.. 2 9% 94 94
284 234 Natl Biscuit 1.20g.. 24 264 26 26 + 4
154 104 Natl Bond & In .40* 1 134 134 134 - 4
26V* 164 Natl Cash Reg il) 6 184 18% 18%+ 4
124 84 Natl Cyl Gas (,20g) 1 104 104 104
184 124 Natl Dairy ( 46g) . 38 174 164 174 + 4
1174 111 Natl Dairy pf A(7). 50s 114 114 114
114 109 Natl Dairy pf B(7). 40s 1104 1104 1104 - 4
284 234 Natl Distillers (2). 15 244 234 234 - %
164 94 Natl Gypsum - 11 114 11% 114+ 4
274 174 Natl Lead (.60) ... 2 214 21 21
27V* 144 Natl Malleable Stl.. 2 184 184 184 - %
9% 64 Natl Pwr & L (.60). 67 9 4 9 4 94 +%
814 52 Natl Steel (.S0g)_ 5 634 634 634 +1
154 64 Natl Supply ... 6 84 8 84 -4
20 10 Natl Supply *2 pf 2 114 114 114- 4
112% uii ivewDerryu j rpnaj jrus tus ius 1UH — 4
17% 8% Newport Indus- 4 11% 11% 11%
22% 12% N Y Central _ 24 15 14% 14%
23% 10% N y Chi & St L- 2 15% 15% 15%
38 18% N Y Chi & St Lof— 4 27% 26% 26%+%
43% 30 NYCOmnlbus_ 2 32 32 32
9 4% N Y Dock pf _ 10s 5% 5% 6% — %
16% 8% N Y Shipbuilding .. 1 11% 11% 11%+%
19% 12% North Am Atria.40c. 30 16% 16 16% + %
26% 18% North Am Co (,60g) 61 25 24% 24%+%
59 53% No Am 6%%pf 2.875 1 56% 56% 56%+%
59% 54% North Am 6% pf (3). 1 58% 58% 58%
14% 7 Northern Pacific . 9 9% 9% 9% + %
112% 102% Nor"n Sta Pw pf (5). 1 111% 111% 111% - %
5% 2% Norwalk Tire- 1 4% 4% 4%
10% 6% Ohio OH (,20e)_ 15 6% 6% 6%
20% 12% Omnibus Corp- 3 14% 14% 14% — %
1134 104 Omnibus pf (*) ... 110s 108% 1084 1084
27% 164 Otis Elevator!.55g). 6 204 20 20 -4
1484 135 Otis Elev of (6) ... 10s 145 145 145 +1
15 7% Otis Steel 4 10 9% 9% + %
24% 164 Outboard Mot 1.30g. 3 244 244 244 +4
70 60 Owens-Ill G1 1.60c- 3 65% 644 65% +1
5 2% Pacific Coast -100s 5 4% 4% + %
17% 11% Pac Coast 1st pf- 50s 16% 16 16%+%
7% 3% Pac Coast 2d pf_ 40s 74 74 74 -4
34% 274 Pao Gas & Elec (2)1 7 33% 33% 334 +%
50% 41 Pao Lighting (*)_ 2 50% 50 50%+%
14% 94 Pac Mills _ 1 12% 12% 12% + %
4% 3 Packard Motor ... 44 3% 34 3% + %
16% 10% Pan-Am Airways— 2 13% 13% 13% - %
14 % Panhandle ... 4 % % %
14% 6% Paramount !.16g).. 8 94 9% 9% - %
13% 7% Param't 2d pf (.60). 1 10% 10% 10%+%
2% 14 Parked tah Mines... 3 1% 1% 1%
434 36 Parke Davis 1.20c— 3 41% 414 414-%
19 11% Parker Rust (1)_ 3 18 17% 17%-%
13% 5% Pathe Film _ 36 12% 114 12 + %
11% 7% Patino Mines . __ 7 8% 8% 8% + %
94% 74 Penney (JC) 1.50g.. 9 92% 90% 91 -1%
2% % Penn Coal & Coke.. 7 1% 1% 1% - %
33 19 Penn Dixie of (A).. 1 214 21% 214-1
24% 15% Penn Rallrosdi.EOe) 44 17% 17% 17% - 4
40% 304 Peoples G & C (2c). 7 39 384 39 +4
17 7% Pere Marquette_ 1 10 10 10 -2
204 17 Pet Milk (1). 8 20 20 20 + M
10 74 Petrol'm Corp .*0g- S 7% 7% 7% + 4
I
Prev. 1939 Stock and Sales— Net
High. Low Dividend Rate Add 00. High. Low. Close, chge.
84 54 Pfeiffer Brew .50ft-. 3 74 7 74 + 4
444 284 Phelps Dodge ,75g.. 17 3914 38 38 -1
484 36 Phlla Co *6 pf (3). 1 474 474 474
4 3 Phlla Rap Tr pf (r) 20s 34 34 34
1034 824 Philip Morris <3a). 9 914 90 90
434 31V* Phillips Patrol (2). 17 344 334 534-4
204 12 Pitts Coal pf_ 2 134 134 134 -3
94 5 Pitts Screw _ 3 54 54 54
244 124 Pitts Steel 6% pf... 10s 15 16 15 -1
154 7 Pitts &WVi .. 130s 84 84 84
224 174 Plymouth 011 1.40a. 4 19 19 19
164 8 Poor & Co (B) ... 1 94 94 94 — 4
144 64 Pressed Steel Car.. 5 8 8 ' 8
63 604 Proctor* Gam <2a) 5 62 614 614 — 4
1194 112 Proc & Gam pf (6) 20s 1174 117 117 -1
414 314 Pub Svo (NJ) l.*5g. 16 41 404 404 + 4
1144 103 Pub SvcfN J )pf (5). 3 1134 113 113 -14
166 148 Pub Svc(N J)pf(8). 60s 1654 165 1654 +4
394 23 Pullman Co (.60g)_. 6 26 4 26 4 264 + 4
114 64 Pure Oil 18 64 64 64 + 4
904 80 Pure Oil pf (6)- 1 80 80 80
814 644 Pure Oil of <51 3 65 644 65 + 4
184 104 Purity Baking ,65g. 7 174 174 174 + 4
84 54 Radio Corp _. J52 64 54 6 +4
674 534 Radio cv pf (3.60).. 2 634 62 634 + 4
24 14 Radio-Ketth-Or (r) 2 14 14 1% - 4
254 20V* Reading 1st pf (2). 1 23 23 23 — 4
134 7 Reis & Co 1st pf ... 20s 114 114 114
174 104 Rem Rand (.80g).. 6 12 114 12 +4
14 4 Keo Motor (r)_ 21 14 14 14
254 124 Republic Steel ... 34 174 -164 174 + 4
144 74 Reynolds Metals... 1 94 94 94 - 4
114 54 Reynolds Spring 3 74 74 74 —4
45 354 Reyn Tob (B) 1.60g 8 404 40 40 - 4
104 64 Richheld 011 6 74 74 74 — 4
34 134 Ruberold Co (.CO >.. 2 194 194 194 + 4
484 274 Safeway Stores (lg) 11 464 454 464 + 4
109 284 Safeway pf (61 10s 107 107 107
464 274 St Joseph Lead 75g 1 374 374 374 - 4
184 104 Savage Arms (.25g) 1 16 16 16 — 4
174 114 Schenlev Distillers 6 124 124 124
1 4 Schulte Retail S<r). 3 4 4 4
524 45 Scott Paper (1.60).. 2 514 514 514 + 4
804 604 Sears Roebuck <3)_. 18 784 774 774 + 4!
184 114 Servel Inc (1)_ 5 16 154 1,54
214 104 Sharon Steel _ 1 124 124 124 — 4 !
74 34 Sharp & Dohme_ 2 44 44 44
114 74 Shattuck (FO)(.40) 1 74 74 77,
154 104 Shell Un Oil (.25g)_ 2 11 11 11
107 101 Shell Un O pf < 6 60). 2 1024 102 102 + 4
o+'t 11+ airamonseo I.DUC). 3 23% 234 23% — % i
294 17 Skeilv Oli(le) .. 2 17 17 17
22% 12% Snider PkR 2 21 20% 20% - % !
13% 104 Socony-Vac’m ,50b. 20 11'/* 11% 114 - % j
3 1% So Am Gold 1 1 0b ) 1 2 2 2
20% 14 So Porto R Sub 75g 1 17% 17% 17% + V* '
29 4 234 SouthnCal Ed 1 EOa 2 29 29 29 +4
21% 104 Southern Pacific .. 12 14% 134 134 _ %
234 114 Southern Railway.. 20 174 164 16% + 4
33% 154 Southern Rwv or . 16 264 25% 25% + %
3% 1% Sparks WlthlnBton 4 14 14 14
474 36 Sperrv r'orp 11 6oe) 13 434 42 434 + %
26% 11 Spicer Mfg <.50g) 7 25% 254 254 + %
60 42 Spicer Mfg pf A (3) 20s 484 484 484 —1
164 94 Spiegel. Inc (.1 ">g) 15 11% 114 114- 4
754 60 Spiegel Inc Df 4 50 . 60s 70 70 70 -2
304 184 Square DCo (,45g). 3 294 28% 294 +1
74 6 Stand Brands .376g. 16 64 6% 64 “B
44 24 Stand Gaa & Elec 4 24 2% 2%
10% 4% Stand Gas & Elec pf 8 8 7% 74 + 4
20% 10 Stand G&E 16 pr pf 1 17% 17% 17% -14
244 13% Stand G&E 17 pr pf 10 21% 204 20%+ 4
304 254 Stand Oil Cal (la).. 40 254 25 4 254
294 234 Stand Oil !nd (1) _. 9 244 24% 244 + 4
534 404 Stand Oil N J (la) 32 414 40% 414+ 4
79% 65 Sterling Prod<3.80) 6 794 79 794 + 4
12% 7 Stewart-Warner... 1 84 84 84
64 3% Stokely Brothers_ 3 5 5 5
17% 8% Stone & Webster_ 17 124 12 124
94 54 Studebaker _ 19 84 84 84 - 4
128'+ 1204 Sun Oil pf (6) ... 10s 123% 123% 123'% -14
11% 7% Sunshine Min lOg . 3 104 104 104 — 4
384 22 Superheater (.375). 2 25 244 244 - %
10% 7 Sweets of America. 1 7% 7% 7.% _ %
194 17 Swift & Co (1.20)... 3 174 174 174 -4
284 24% Swift Inti (2) _ 4 27 27 27
10% 4% Symington ww_ 1 5% 51,, 51^ _
64 4 Tenn Corp _ 2 54 54 54- %
484 344 Texas Corp (2) 50 344 34% 34%
5% 34 Tex Gulf Prod.lOg 2 3% 3% 3% _ %
32% 264 Tex Gulf Sul (2) 6 28% 284 284 - %
104 74 Tex Pac C&O (.40). 1 7% 7% 7% + 1.
40 31 The Fair pf. 10s 314 314 31% I 7.
4% 24 Thermoid 2 4 34 4
27 14 Thermoid pf 1.75k „ 110s 254 25 254+ x
3 14 Third Avenue _ 2 1% 1% i* , ,
284 17 Thomp Prod ,50g... 3 24 4 244 244+1”
Prev. 1939 Stock and Sales— Net
High. Low. Dividend Rate Add 00. High. Low. Close, chee.
3”, 14 Thompson Starrett 1 la* la* 1% - %
154 74 Thompson Star pf 1 94 94 94—14
14V* 10*» Tide-Water AO ,65g 6 11 10)4 11 + y*
96 87 Tide WAO pf(4.60). 1 91 91 91+14
18% 10*4 Timken Det Axle 15 15V* 14)4 15y* +1V*
54y« 34V* Timken Roll B (lg). 2 46 46 46
12% 6V* Transcontl & W Atr 11 10'/* 10 10-4
4 2 Tri-Continental_ 7 3 3 3 +14
88 74 Trl Conti pf (6)_ 1 83 83 83 +1
4)4 3 Truax-Traer Coal.. 3 34 3)4 3)4 + ’4
12)4 7)4 Twin Coach_ 4 10% 10)4 10)4 + 4
4% 2 Ulen & Co _ 1 2)4 2)4 21/* - V*
66 44 Underw-Ell-F (lg). 1 49)4 49)4 49)4 — )4
12)4 6** Union Bag & Paper. 4 7% 7v* 7%
9014 65)4 Union Carb (1.40k). 13 82 80S SOS - S
19% 16S Union Oil (Cal).SOg 5 16S 16y* 16)4
104 81)4 Union Pacific (6)... 4 97)4 97 974 + Vi
90 78 Unlqn Pac pf (4) — 1 88), 88% 88% - 4
42% 33 Unit Alreraft(.75g) 9 37 36a* 36’* - y*
13S 7)4 Unit Air Lines . 12 12V* 11), 12 + S
18a* 15% Unit Biscuit (,75g). 1 18 18 18
3% 2 Unit Corp .. 48 3% 3 3
39% 30)4 Unit Corp pf 2.»0k— 13 38 37% 37% - S
7% 4a* Unit Drug _ 1 5)4 5)4 6S
83V* 62S United Fruit (4).__ 3 80 79a* 79a* - \
14% 11 Unit Gas Imp (1)_ 26 14% 14 14% + S
13% 6% Unit Mer&Mfg_ 24 12V* 11% 11)4 - S
7«* 5 US Distribing pf_160a 7 6)4 7 + V,
11 5V* U S & For’n Secur.. 2 7 6% 7 + V*
113 77 US Gypsum (2) .. 6 84a; 83)4 83)4 -1%
180 167 U S Gypsum pf (7). 10s 175 175 175 — a*
25% 13)4 U S Indus Alcohol— 3 16% 164 164 -4
10% 6 US Leather (A) ... 1 74 74 74 — %
61% 46 U S Leather pr pf .. 1 50 50 50 — %
49 35 U 8 Pipe & Fdy (2). 2 41% 41% 41% — %
64 14 U S Realty * Im(r). 9 1% la, la* _ ),
62a* 31)* U S Rubber .. 96 43% 42% 42% + 4
112V* 864* U S Rubber 1st of(» 2 108), 1084 1084 + V,
651, 48 U S Sm & Ref (Jg) 3 53V* 53 534 - 4
70 434 U S Steel ... 73 50% 49a, 50% + 4
120a* 984 U S Steel pf (7)_ 3 109% 109% 109% + 4
374 33 U S Tobacco (.64g). 2 36% 36), 36a, + %
8% 6% Unit Stkyds pf(.70) 1 7 7 7
163 157 Univ Leaf T pf (8). 40s 1604 159'* 159’, -14
30V* 16 Vanadium Corp . 5 23 22'* 23 + 4
354 25 Van Raalte (1.50g)_ 12 364 35V* 36 H i
43 34% Vick Chemical (2a). 1 42V, 42% 42'i -1- a,
1 1L. 17 V7 a Porn 1 011 Oil Oil
2% 1% Va Iron Coal & C_170s % % % + %
23% 15% Walgreen (1.60)_ 1 22% 22% 22%
98% 85 Walgreen pf (4.50). 1 96 96 96 —2
9% 4 Walworth Co _ 6 5% 5% 5V» — %
6% 4 Warner Bro» Plct.. 7 4% 4% 4%
58 36 Warner Bros P1c pf 10s 53 53 53 -2
3% 1% Warren Bros (r)_ 37 3 2% 3 + %
13% 6% Warren Br cv pf(r) 4 11% 10 11% +3%
24% 14% Waukesha Mot (1). 1 18% 18% 18% — %
32% 20% Wayne Pump (lg)_. 1 25 25 25 — %
28% 16 Wesson 011 ( 60a).. 4 17% 17% 17% - %
101% 85 West Penn E A(7). 160s 101% 101 101%+ %
105 88 West Penn E pf(6). 10s 104 104 104 + %
112 95 West Penn El pf(7) 30s 110 110 110
33% 20% West Auto Sup 65g 3 32% 32% 32% + %
28% 16% Westn Linton Tel 18 26% 25% 25V* + %
31% 18% Westhse A B 50g._ 2 22 22 22
120 82% Westhse Elec 1.75g. 13 107% 106% 106%
20% 10% Weston Elec Inst . 4 19 18% 18% — %
25% 15% Westvaco (la)_ 2 26 26 26 + %
31% 15% Wheeling Steel __ 4 23% 23% 23% + %
13% 7 White Motor 6 9% 9% 9%
7 3% White Rock Min Sp 1 4% 4% 4% — %
3% 1 Wlllys-Overland __ 7 1% 1% 1%
6% 2% Willys Overl'd pf._ 2 3% 3% 3% + %
5 3% Wilson* Co _ 1 3% 3% 3%
49% 35 Wilson* Co pf_ 1 36 36 36
25% 15 Woodward Iron_ 1 18% 18% 18%
50% 41% Woolworth (2.40).. 18 48% 48% 48%
23% 10% Worthing(on Pump 2 15% 15% 15% + %
85% 75 Wrlgley (3a) .. 1 84 84 84
33% 21% Yale & Towne(.60). 2 22% 22% 22%-%
21% 11% Yellow Truck ' 19 16% 15% 16 + %
114% 98 Yellow Tk 1% 3.50k 30s 115 114 115 +1
55% 30 Ygstwn Sheet & T 19 41 40% 40% — %
31% 17 Ygstwn Stl Dr 25g 1 20% 20% 20% + %
22V* 12 Zenith Radio (lgl 1 19 19 19
Approximate Sales of Stocks on the N. Y. Stock Exchange.
11:00 A.M. 140.00U 12:00 Noon . _ 210.000
1:00 P.M. 270.000 2:00 P.M . 340.000
Total Sales for the day. 450,000
sUnit of trading lo shares.
rln bankruptcy or receivership or being reorganized under
Bankruptcy Act. or securities assumed by such companies.
Rates of dividend in the foregoing table are annual disburse
ments based on the last quarterly or semi-annual declaration.
Unless otherwise noted, special or extra dividends are not included.
xd Ex dividend, xr Ex rights a Also extra or extras, e Paid
last year, f Payable in stock g Declared or paid so far this
year h Cash or stock, k Accumulated dividends paid or de
clared this year.
S. E. C. Recognizes
Securities Dealers'
Association
Action Is Hailed by
Chairman Frank as
Safeguard
| The Securities and Exchange
i Commission granted recognition to
I the National Association of Securi
ties Dealers. Inc., as a national as
! sociation of the over-the-counter
security brokers and dealers. The
' association has about 1.500 members
| throughout the country.
Chairman Jerome N. Frank of the
i S. E. C. said in a letter to Wallace
H. Fulton, director of the associa
tion, that the recognition ‘‘marks
the beginning of a significant at
tempt by an important segment of
a business affected with a marked
public interest in regulating its own
affairs in co-operation with the
Government. * * * in the main, the
result is indicative of a desire on
the part of a large and important
part of the business and a group of
sincere, representative leaders to
tackle with the commission the
very difficult job of regulating the
vast and unorganized over-the
counter securities markets.
Seen As Benefit.
“* * * It should benefit both the
investor and the honest dealer. It
should be an aid in safeguarding
our securities markets against those
tendencies which destroy the in
vestor confidence so vital to our
economy/’
The association will be managed
by a national Board of Governors,
14 district committees and a num
ber of business conduct committees,
all consisting of members serving as
unpaid volunteers.
1UC U. v. oaiu tilca v cuinwot iwi
of the association's rules of fair
practice are directed toward elim
inating abuses which might well
lead to the defrauding of investors"
and that one rule "specifically for
bids the effecting of transactions
in, or the inducement of a purchase
or sale of any security by means of
any manipulative, deceptive or oth
er fraudulent device or contrivance.”
No Solvency Rules.
It added, however, that there were
“no rules whatsoever concerning the
solvency of members or requiring
any regular or periodic inspections
on the part of the association of a
member’s books or the submission,
on the part of the member, of his
financial statement to the associa
tion or to an independent firm of
auditors acting for the association.”
The commission expressed regret
that the association had not adopt
ed any such rules and said it “feels
that it must emphasize the lack of
such rules lest the public be misled
into thinking that membership in
the applicant association in any
way connotes solvency."
With the granting of the appli
cation, Henry H. Egly resigned as
chief of the S. E. C.’s securities as
sociation unit to return to private
business. In a letter to Chairman
Frank Re explained that he con
sidered his work completed.
Certificates Authorized
For Southern Pacific
Bj the Associated Press.
The Interstate Commerce Com
mission authorized the Southern
Pacific Co. today to issue $7,575,000
of equipment trust certificates,
series P, to be sold at 101.41 per
cent of par and accurued dividends
in connection with the purchase of
new equipment,
4
Baltimore Tobacco Sales
Reach Peak for Week
Special Dispatch to The Star.
BALTIMORE, Aug. 8.—Sales of
Maryland tobacco on the Baltimore
market reached a peak last week
when 2.618 hogsheads were trans
ferred. This was an increase of 1.165
hogsheads over the total for the
previous week. Receipts, however,
recorded a decrease, totaling 3.047
hogsheads, which was 154 hogs
heads below the total for the
previous week. It is expected that
the receipts will continue to de
crease gradually. Prices remained
unchanged.
The stock of Maryland tobacco
in warehouses now totals 20.053
hogsheads. There were no receipts
of Ohio tobacco during the week,
but 14 hogsheads were sold. This
leaves the present stock of this
product at 296 hogsheads.
Quotations on Maryland tobacco
are as follows:
Maryland, firm leaf—Nondescript
and unsound, pound, 3a4: dull and
greenish, 4al5; sound to good com
mon, 8a25: short to medium bright,
25a35; good to fine, red or bright,
35a40.
Seconds—Common, 4a9; medium,
10a24: good to fine. 25a36.
Badly mixed hogsheads from 2.00
to 5.00 lower.
Virginia Quarries Find
Upswing in Business
Special Dispatch to The Star.
WINCHESTER. Va.. Aug. 8.—Stone
quarries and lime manufacturing
plants of Frederick and Shenandoah
Counties report the best business
they have had in several years. Most
of the plants are working on large
orders and operating shifts have
plenty of work.
In addition to those that have
been in the business many years,
others are being opened in various
localities of the two counties in
which there is an abundance of
limestone. It was said the steel
trade has taken a decided upswing
recently, which accounts in large
measure for the increased demand
for limestone for fluxing purposes.
Large quantities of the stone have
been shipped to Washington, D. C.,
and surburban Virginia and Mary
land for limestone dwellings.
Boston Wool Market
BOSTON. Aug. 8 UP) (U. S. Dept, of Agri
culture).—Inquiries for wool were slower
than last week, but the moderate amount
of business being transacted was closed at
firm prices today
Good French combing length fine terri
tory wools in original bags was selling at
67 to 60 cents, scoured basis. Twelve
months Texas wools were moved occa
sionally at 67 to 71 cents, scoured basis.
Fleece w’ools were mostly slow at quota
tions nominally unchanged from last week.
New York Metal Market
NEW YORK. Auk. 8 OP>.—Cooper steady;
electrolytic spot, 10.50; export. 10.70.
Tin. steady: spot and nearby. 48.75; for
ward. 48.50. Lead steady; spot. New
York, 5.05-5.10; East St. Louis. 4 00.
Zinc, steady: East St, Louis, spot and for
ward. 4.75 Pig iron, aluminum, anti
mony. quicksilver platinum and Chinese
wolframite unchanged
In renumbering 74 streets, Ben
fleet, England, left out the num
ber 13.
United States Treasury I
By the Associated Press.
The position of the Treasury August 5
Receipts _
Expenditures _
Net balance __ . __
Working balance Included _
Customs receipts for month - _
Receipts for fiscal year (July 1) _
Expenditures .. . _
Excess of expenditures _
Gross debt _ __
Increase above previous day__
Gold assets __
U. S. Oil Concession
Reported Doubled
In Saudi Arabia
Standard of California
To Extend Operations
In Nejd Area
By the Associated Press.
LONDON. Aug. 8.—The Standard
Oil Co. of California was understood
in informed diplomatic and oil quar
ters today to have been granted an
approximately 50 per cent enlarge
ment of its present oil concession in
Saudi Arabia, involving a payment
of more than $1,000,000.
The extension was said to involve
operations in the North and South
Nejd areas.
The Kingdom of Saudi Arabia is
ruled by Ibn Saud, dominant figure
among Arab leaders. Britain, in a
treaty of 1927. recognized the com
plete independence of his domains.
The American oil company, oper
ating a concession in Eastern Saudi
Arabia, early in 1938 struck oil in
satisfactory quantities. Drilling op
erations have been carried on in
Hasa Province.
Standard Oil Co. of California,
through subsidiaries, produces oil in
many parts of the world, including
Saudi Arabia, where the California
Arabian Standard Oil Co. operates.
It sells its products to Bahrein Pe
troleum Co., another subsidiary
owned in connection with Texas
Corp., which markets throughout
the Persian Gulf and in China. In
dia, South Africa. Australia and the
Philippine Islands.
California Arabian Standard Oil
Co. held a long-term concession in
Saudi Arabia, covering about 100,
000,000 acres, which, according to re
cent reference books was producing
about 5,000 barrels a day. No refin
ery has as yet been erected.
S. H. Kress July Sales
Advance Over Last Year
By the Associated Press.
NEW YORK, Aug, 8 —S. H. Kress
Co., operators of a national chain of
variety stores, today reported July
sales at $6,225,134. an increase of 6.9
per cent from $5,821,610 in July last
year. Sales for the first seven
months of the year were 0.4 of 1 per
cent ahead of the similar period of
1938.
Simonds Saw & Steel Co.
Dividend Is Doubled
By the Associated Press.
BOSTON, Aug. 8.—Directors of Si
monds Saw & Steel Co. declared a
dividend today of 40 cents a share
on the common stock, payable Sep
tember 15, to stockholders of record
at the close of business August 26.
For the previous quarter, a 20-cent
dividend was paid on June 15 and
a 10-cent dividend for the year's
first quarter on March 15.
’osition
compared with comparable date a year ago:
August ft. 1939 August ft. 1938.
$22,270,956.26 $40,037,488.42
23.ftH4.081.3.3 37.0H!).973.fil
2.453.30K.751.77 2.203.700.233.15
1.766.211.702.33 1,610.719.855.84
ft.105.025.71 4.663.021.94
438,710.016.10 508.002.331.74
1.011.718,806.38 903.127.450.97
573.008.790.28 455.125.119.23
40.730.956,618.12 37.270.316.219.07
2.153.482.64
. 16,260,540,630.67 13.028.045.302.49
4
■■ 1 11
Advances Are Nipped
As Early Rally Fails
Near Market Close
Transfers for Session
Are Around 450,000, One
Of Dullest Days in Month
Stock Averages
I 30 15 15 00
Indust. Rails. Util. 8tks ,
Net change +.2 —.1 -r.l i-.l
Today, close 69.3 18.7 39.9 49.2
Prev. day .. 69.1 18.8 39.8 49.1
Month ago 66.2 17.8 37.4 46.7
Year ago... 72.8 20.8 33.8 49.8
1939 high-. 77.0 23.8 40 6 53.4
1939 low... 58.8 15.7 33.7 41.6
1938 high.. 79.5 23.5 37.8 54 7
1938 low... 49.2 12.1 24.9 33.7
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 by the Associated Press.)
By VICTOR EUBANK,
Associated Press Financial Writer. 1
NEW YORK, Aug. 8—An uncon
vincing early rally failed to follow
through in today’s stock market and
initial gains running to a point or so
were chopped down to inconsequen
tial fractions in many cases or
changed to declines at the close.
Dealings were moderately lively in
the first few minutes, but from then
on the ticker tape moved only spas- *
modically. Transfers for the full
session w'ere around 450.000 shares,
one of the smallest turnovers In
about a month.
The generally cheerful business
outlook, brokers said, remained as
the principal selling deterrent and
the day’s erratic price shifts were be
lieved due to so-called “professional”
! in-and-outers. While the public ap
parently shunned the buying side,
some encouragement was derived
i from the fact liquidation in this
! quarter was virtually nil.
Technicians again held to the idea
reactionary tendencies of recent ses
I sions wrere a further normal “cor
i rection” of the broad upturn in July,
i Foreign affairs were still viewred as
a speculative handicap because of
| a possible new "crisis" in the next
few weeks or months. European
j securities exchanges, opening after
! the holidays, failed to develop for
| ward inclinations.
Resistant stocks the greater part
of the time were United States Steel,
| General Motors. Chrysler, Sears- ,
Roebuck, United States Rubber,
Boeing. Western Union. North
j American. Great Northern, Stand
ard Oil of New Jersey and American
Can.
A disposition to back away was
show-n by Youngstown Sheet, Good
i year. Phelps-Dodge, American Tele
| phone, Santa Fe, General Electric,
! Johns-Manville, J. C. Penney,
Sperry, Continental Oil and United
States Gypsum. I
Chicago Grain 4
3y the Associated Press.
CHICAGO, Aug. 8.—The wheat
market had an easy undertone to
day and prices averaged lower ^
within a narrow range. After losses
of as much as T* cent prices rallied i
to about the previous close in late I
trade, due largely to light offerings
and small short-covering. 1
The International Institute of 4
Agriculture was said to have pre
dicted that world wheat production
this year would be the largest since
the World War, with the exception
of last year's crop.
Wheat closed unchanged to >»
i lower, September, 6358-34; Decem
ber, '64'4--%; corn unchanged to •>*
lower. September, 42'„-'4; Decem
ber, 4134-7S; oats, '* off to '4 higher,
WHEAT— Open. High. Low. Close.
Sep. 63 5 , .«!’» ,63's .63*,-y4
Dec. . .114 •’« .64*1, .03’. .64*4-*.
May _ .65 ,653* .Of'a ,6574-65
CORN—
i Sep. .42 -42’a .41’« .42'«-'4
Dec. 41*. .42 ,41‘a .4I3,-7.
May ,44*. .44’. .44', ,44'a-5.
OATS—
Sep. ... _ .27'4 ,273. ,27>. 27'4-3»
Dec. _ .27*4 .273s .27.27-.
May . .28** .28* a .28'4 ,28'.4
SOY BEANS—
Oct. ,68'2 ,68>a ,68'4 .US',
Dec ... .67*4 .67'.a .67 ,67'a
May - - - - ,6934
RYE—
: Sep. _.4014 ,4o34 .an7. 4ms
Dec _ 42'a .423, .42 .42'4
May ___ .44'/2 .4434 .44'. Ai't
LARD
Sep . 5.55 5.55
Cct. - 5.62 5.62 5.60 5.60
Dec. - 5.7 2 5.75 5.72 5.75
Jan. 5.80 _ _ 5.80
BELLIES—
Sep. _ _ _ 5 25
Chicaco Cash Market
Wheat. No. 5 red. tough. 62‘a; No 2
hard. 67*a; No. 3 yellow, hard. 64',-'.;
sample yellow, hard, tough. HI'2. No 2
mixed, tough. 633/4-64'4. Corn. No 1 yel
low. 45-45'.'a No. 1 white. 56: No. 4. 55‘a
Oats No. 1 mixed. 28'4: No. 2. 273,-28‘a
sample mix-d grain. 24'a: No 2 white!
29-28' a: No. 3 white. 2714-20: No. 3 •
white, tough. 27'4-la: mixed grain. 27
2,‘a: sample white. 26>4 Barley, melting,
4o-50 nominal: feed. 34-40 nominal. No 3,
4 ■ -Ol; No. 2 malting. 52: No. 3 malting.
aO-a-i. Timothy seed. 3 65-90: clover seed
red top, 8.50-9.00.
Winnipeg Prices.
WINNIPEG. Aug. 8 oPt.—Grain range
today:
WHEAT— Previous
_ . High. Low. Close. close
o'; a 52** .52'a Holiday
£*ec Jj> • -5334 ,53’r Holiday
.o,'a .56** .56*4 Holiday
L/A i a—
®cl' -27T« .27’, .27', Holiday
Winnipeg Cash Market.
...Wheat—No i Northern. 54',: No. 2.
493,: No 3. 54'a
Oats—No. 2 white. 26; No 3, 24',. ^
Baltimore Quotations
BALTIMORE. Aug. 8 OPi.—Wheat. No.
-’red winter, garlicky, spot, domestic.
t)934.
! New York Cotton
! B> the Associated Press.
NEW YORK, Aug, 8.—Cotton fu
tures were moderately active today,
with early gains pared somewhat in
afternoon trading. The list was un
der pressure of aggressive commis
sion house and foreign liquidation,
together with professional selling
which met only limited trade de
mand. Prices in midafternoon
ranged 8 to 11 down, with October
off 10 at 8.90 and December 8.71.
Futures closed 13-17 lower.
_ , . Open. High. Low Last.
October -9.01 9.06 8.87 8 87
December - 8.84 8.88 8 67 8 67
January-8.71 8.73 8.53 8.53
March - 8.61 8.65 8.44 8.44
May- 8.45 8 49 8.28 8.28
JuI£ -LOT---8-27 8-31 8.13 8.13
Middling, spot. 9.47n.
n Nominal
Cottonseed Oil.
. „B1£achabIe cottonseed oil futures closed
10-13 lower. Sales. 231 contracts. Sep
tember. .->.60: October. 5.63b; December,
o.81: January. 5.85b; March. 5.96b.
b Bid.
Steel Casting Orders Rise
Orders for steel castings booked
by 183 manufacturers for the first
half of this year amounted to 227,
285 short tons, a sharp increase
over the 152,070 short tons during
the corresponding period of 1938,
the Census Bureau found. Produc
tion showed comparable increases. *
Japan’s invasion has not se
riously interfered with China's ex
ports of firecrackers.
ft