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Garfinckel Store Directors Declare Common Dividend Quarterly Payment On Preferred Stock Is Also Voted By EDWARD C. STONE. Directors of Julius Garfinckel & I Co., whose preferred and common stocks were recently distributed pub licly, following the sale of the busi ness by the estate of the founder, today declared an initial dividend of 17 % cents per share on the com mon stock of the company, payable December 15, 1939, to stockholders of record December 5, 1939. In an nouncing this initial dividend, the directors stated that it would be their policy to declare such divi dends henceforth on a quarterly basis, contingent upon earnings. At their meeting, held in Wash ington, the directors also declared the regular quarterly dividend of 1*2 per cent on the company’s $25 par value preferred stock, payable December 31. 1939, to stockholders of record December 15, 1939. William E. Schmid, president, stated that the store's sales volume is currently running substantially ahead of the corresponding period last year. Veteran Bank Director Dies. The death of D. J. Kaufman, 77, noted elsewhere in today’s Star, caused deep regret in the financial district. He had been a director of the Union Trust Co. for 32 years and was a member of the Executive Committee, and had been on the di rectorate of ’the Columbia National Bank for 28 years. He was founder of the clothing business at 1005 Pennsylvania avenue N.W. Mr. Kaufman was greatly inter ested in finance and kept up with all the latest developments in bank ing. Tributes were paid him today by Frank J. Stryker, president of the Columbia National, and Ord Pres ton, head of the Union Trust Co. One of the sustaining members of Washington Chapter. American In stitute of Banking, he showed in this practical way his concern in the ed ucation of young bankers. Hanes Urges Banking Caution. Robert M. Hanes, president of the American Bankers' Association, speaking at a bank management conference the other day, said that the banks are now- entrusted with the safeguarding of 65 billions of deposits. Bankers have an in escapauie responsiomiy, ne saia, 10 discourage all tendencies toward in flation and to use every effort to direct the use of credit into proper channels so that the unfortunate reactions that followed the first World War may be avoided. Mr. Hanes continued: "The current movement that seeks to set up Government banks to make loans direct to small business and thereby socialize the American banking system constitutes a very real challenge to all bankers. Bank ers do not object to any legislation that enables chartered banks to operate more UjS»fully if the niles of safety are not violated. In fact, they expect a larger measure o* regulation than almost any oth form of business because of the vital public interest involved. "But Government regulation of banks is one thing and Government ownership and operation is quite another. If free enterprise is to be maintained we must maintain a free and independent credit system. The granting of credit must be moti vated by principles of sound credit procedure rather than by political expediency.” Transit Stock Hits New High. Capital Transit stock scored an other new high mark on the present move on the Washington Stock Ex change today. The market opened with 22 shares selling at 14 and closed with 28 more changing hands at 14tk. The final bid was 14U writh lo'-2 asked. Capital Traction 5s were strong again today, $1,000 moving at 96H, a new 1939 high. Ten shares of Lanston Monotype stock sold ex dividend at 3312 Storage Dividend Declared. Directors of the Fidelity Storage Co. have declared a dividend of $2 per share on the outstanding stock, payable on December 15, President David B. Karrick announced today. inis wiu oe the fourth regular $2 dividend paid by the company dur ing 1939. Dun & Bradstreet reports that building permits issued in Wash ington in the first 10 months amounted to $33,485,511. This was a rise of 33 per cent over the $24,462, 000 in the January-October period in 1938. The gain in the Capital far exceeded the average for the coun try as a whole, which amounted to 8.8 per cent. Bragg Addresses Underwriters. James Elton Bragg, well-known lecturer on life insurance, who is manager of the New York office of the Guardian Life Insurance Co., was the guest speaker at the Novem ber luncheon of the District Life Underwriters' Association at the Wil lard Hotel this noon. He spoke on "Reasons for Buying Life Insurance.” About 200 members of the associa tion were present, President Joseph A. Marr presiding. Another Peak in Credit. The statement of reporting mem ber banks for November 1 showed total loans and investments of $22. 728.000.000, which is another new peak since the credit expansion be gan in the summer of 1938. The present volume of earning assets, says Fitch's Market Review, is now only slightly under the high point of $23,000,000,000, which had been reached at the end of 1936. A gain of $71,000,000 in the week of No vember 1 resulted principally from expansion of loans, including an in crease of $18,000,000 in business loans and an extension of $10,000,000 In credit to brokers and dealers in securities. Manufacturers' Stocks Show Sharp Decline By the Associated Press. NEW YORK. Nov. 15.—The Sep tember war buying wave was re flected today in statistics showing a sharp decline in manufacturers’ stocks of all sorts of finished and semi-finished goods. The National Industrial Confer ence Board reported stocks of semi finished goods dropped 7.3 per cent from the August figure, while fin ished goods holdings declined 3.2 per cent. Raw materials were up 1.7 per cent. TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE: Br Private Wire Direet te The Star. 4-QAnm I n.na . - .. . 2:30 p.m. Prey. 1030 Stock and Sales— Net High. Low. Dividend Rate. Add 00. High. Low. Close, chge. 71(4 63 Abbott Lab (1.60a). 4 65*. 65 66 5614 31(4 Acme Steel (3a)_ 1 62(4 62(4 52(4 4 1*4 11(4 6(4 Adams Exp (.10g).. 6 9 8(4 8(4+ (4 68 45'* Air Reduction (la). 6 57(4 67 57 -Mi 1(4 *4 Air-Way Elec Appl. 11 1 1—44 10 6(4 Alaska Juneau .80g. 15 7(4 7(4 7(4 T 14 *4 Alleghany Corp .. 1 1(4 P4 1(4- 14, 20'4 5*4 Allegh’y *30 pf ww. 10 15(4 15(4 15(4 - *4 18(4 4(4 Allegh’y *40 pf ww. 1 13(4 13(4 13(4 - (4 18 4(4 Allegh’y pf xw .. 1 13(4 13(4 13(4- (4 28(4 14 Alleg-Ludlum Steel 1 23 23 23 + (4 11!4 6*4 Allen Indust 625g . 1 10 10 10 200(4 151(4 Allied Chemical (6) 3 176(4 174(4 174(4 14'4 10 Allied Kid (.50)_ 2 14*4 14*4 14*4- (4 11% 6 Allied Stores _ 11 10(4 10(4 10(4 48*4 28 Allis-Chalm (la)... 15 40(4 40(4 40*4 + *4 19;4 12*« Alph Port Cmt ,75g. 3 16 15*. 15*4+ (4 74(4 60 Amerada* (2) .. 5 61(4 59 59 -3 24(4 16 Am Ag Ch Del (lg). 2 21 29(4 20(4 + (4 40*4 16*4 Am Airlines _ 19 40(4 38(4 39 - (4 17*4 9*4 Am Bank Note _ 2 12 11(4 11(4 + (4 60 49’j Am Bank N pf (*).. 10s 47*4 47*4 47*4 -2 8 3(4 Am Bosch .. .. 1 <J(* 6(4 6(4 - (4 57M 31*4 Am Brake Shoe ,75g 4 48(4 47 48(4 +1(, 116(4 83(4 Am Can (4) 10 111 110(4 111 +(* 179 150 Am Can pf (7) .. 1 170 170 170 +2 40(i 161* Am Car & Foundry. 5 34** 34V* 34V* 64 30(4 Am Car* Fdry pf 1 54 54 54 — (4 25(4 13(4 Am Chain & C .558 .. 1 22(4 22(4 22(4 - (4 8*4 5 Am Colortype . 4 7*4 7*, 7m, 11T* 6'4 Am Corne l Alcohol. 1 8*4 8*4 8*. 5*4 2*4 Am Encaustic Til . 2 3V* 3 3 _ m, 3H 2 Am &- Foreign Fwr 3 2(4 2(4 2'4 — (4 24(» 10 Am & For’n P *6 pf. 1 22(4 22'4 2‘2'4 - V* ^IU « rui II r II . o CO C 4 CO -f 'H 9% 5 Am & For'n P 2d pf. 2 7% 7% 7% + % 33 12 Am Hawa’n SS (1) . 3 24% 24% 24% + % 8 2% Am Hide & Leather. 2 6% 6% 6% 3% 1% Am Ice . _ 1 2% 2% 2% 25 14% Ant Ice pf _ 1 22 22 22 -1 9 3% Am International... 7 7 6% 6% - % 30% 13 Am Locomotive „ 2 25 24% 24% — % 79% 41 Am Locomotive pf . 1 62% 62% 62% +1% 15% 11 Am Mach & Fy .30 . 2 14% 14% 14% 5% 2% Am Mach & Metals. 2 4 4 4 - % 40% 24% Am Metal (,75g) _ 1 25 25 25 — % 7 3% Am Power & Light. 11 6 4% 4% — % 45% 28 Am P&L *6 pf 2.60k 20 45 43 44 +1% 52% 32 Am P&L $6 pf (3k). 11 53% 61% 52% +1% 18% 8% Am Radiator .. 35 10% 9 « 9% - % 162 140 Am Radiator pf (7) 20s 148 147 147 22% 11% Am Rolling Mills .. 6 18% 18% 18% - % 15% 11% Am Safety Raz 1.20 3 12% 12% 12% — % 20 9 Am Seating (,50c).. 1 11% 11% 11% - % 46% 25% Am Ship Bldg 1.50g. 70s 35% 35% 35% 63 35% Am Sm & Ref (2)... 6 51% 51% 51% 41 20% Am Steel Foundry.. 4 34% 34% 34% 14% 8% Am Stores (.50g)._. 1 12% 12% 12% + % 34% 15% Am Sugar Refining. 1 21% 21% 21% — % 98 75% Am Sugar R pf (7). 2 89% 89% 89% - % 170% 148 Am Tel & Teleg (9) 12 168% 168% 168% - % 87% 73 Am Tobacco (6)_ 2 80% 80 80% + % 89% 75% Am Tobacco (B)(6) 7 82 81% 82 + % 8% 4% Am Type Founder*. 3 5% 5% 5% 14% 8% Am Water Works . 26 12% 12 12 - % 96 78 Am W W 1st pf (6.. 2 90% 90% 90%+ % 15% 3% Am Woolen _ 2 10% 10% 10% 64% 28% Am Woolen pf_ 6 50% 49% 50 +1 12 4 Am Zinc 10 «% 8 8 40 20% Anaconda <.75g)._. 42 32% 32 32%+% 37 21 Arch-Dan-Mid 1.10g 1 33% 33% 33% - % 8% 3% Armour (111) 9 6% 6 6 60 33*4 Armour (111 i pr pf 3 47% 47% 47% — % 58 31% Armstrong Cork (1) 2 38% 37% 38%+ % 13 7% Arnold Const 626g. 1 11% 11% 11% + % 10% 5% Artloom Corp _ 1 9% h% 91, 10% 5% Assoc Dry Goods 13 9% 9 9 78*4 70 Assoc D G 1st pf<6) 2 77 76 77 + % 81 41 Assoc Dry G 2d pf.. 3 73 73 73 -1 42% 21 AtchTop&SF- 6 29 28% 28% 30% 15 Atl Coast Line__ 4 25% 25 25 26% 5% Atl Gulf & W Ind__ 6 15% 15% 15% - % 24% 18% Atl Refining (1)_ 6 24% 23% 24% + % 9% 7 Atlas Corp (,50g)._ 4 8% 8% 8% - % 48% 43% Atlas Corp of (3) 2 46% 46% 46% + % 71 50 Atlas Powder (3g). 2 65 64% 65 + Vi 9% 31s Aviation Corp— 38 8 7% 7% - % 21% 9'v Ealdwln Loco ctr*.. 9 18% 17% 17% - % 8% 3% Balto & Ohio_ 7 6% 6% 6% 11% 4% Balto & Ohio pf- 1 8% 8% 8% + % 30% 19 Bangor & Ar (2)_ 6 20 20 20 - % oi-» EiiiKDraiArDi iti 308 63'* 634 63*4 - V« I 214 10!* Barber Asphalt .25g 3 16'/* 154 154- *, 13 6 Barker Brothers __ 1 9', 9', 91, 194 114 Barnsdall <.90g) .. 4 144 14 14 94 74 Belding-Hem (80). 1 94 94 94 + n 33** 164 Bendix Avia 1.50g _ 45 314 31 31v* - 4 214 174 Beneficial L’n 1.35g) 2 214 214 214 554 484 Beneficial L of 2.50. 2 55V* 55 55 674 32 Best & Co (1.60a) ... 1 414 414 41^ 100 504 Bethlehem Stl 1.50g . 27 844 834 83** + 4 324 154 Bigelow-Sanf’d (lg) 2 284 284 284 - 4 W‘*,lox . 2 J24 124 124 +4 344 Boeing Alrpla*a+_ 14*474 27'* 274-4 60 51 Bon Ami (B) 2:50a- 40s 684 58 584 +4 234 124 Bond Stores (.80)_ 1 214 214 214 22 164 BordenCo (.90g)/_. . 4 go** 204 20** + 4 32 184 Borg-Warner .75*.. 9 274 264 264 - 4 74 64 Brewing Corp (.60). 2 64 64 64 314 164 Briggs Mfg (lg)... 7 244 234 234 -4 53 41** Bristol-Myers 2.40. 2 504 50 50 -1 144 74 Bklyn-Man Transit. 11 12 114 12 + 4 484 7 Bklyn-Man Tran of. 3 40** 394 40** + 4 40V* 394 Bklyn-Man pf ctfs.. 2 39** 39 394 - 4 134 54 .Bklvn &-Queens of 1 114 114 114 — g, 304 134 Bklyn Un Gas(.50g) 2 254 254 254 - 4 234 94 Brunswtck-B 1.25g. 23 234 234 234 +14 134 7 Bucyrus-Erie- 20 114 104 11 - 4 1064 944 Bucyrus-E pf (7)_ 20s 1014 101 101 * 8 4 Budd Mfg - 14 64 64 64 - 4 554 294 Budd Mfg p£- 30g 444 441, 44v* -1** 64 3 Budd Wheel- 11 64 54 6 - 4 30 154 Bullard Co _ 1 24 24 24 + 4 344 214 Bulova Watch (2).. 6 314 31 31 — g, 19** 114 Burlington Mills <1) 3 174 174 174 + 4 18V* 11 Burr’s Add Mch .40. 4 12** 124 124 - 4 7*» 1 Bush Terminal .. 4 54 54 54 _ g, 94 5*4 Butler Bros (.30g)_ 3 8 8 8 64 24 Butte Copper _ 2 4*» 44 44 194 7 Byers <AMJ Co_ 2 114 144 144 174 114 Bvron Jackson (1). 1 164 164 164 - 4 30 134 California Packing. 2 234 234 234 + 4 34 4 Callahan Zinc .. 13 24 2 2 104 44 Calumet & Hee .25g 3 74 7** 7**— 4 174 94 Campb’l Wyant ,20g 9 154 15 15 204 12 Canada Dry (,50g)_ 1 154 154 1514 6V* 30 Canadian Pacific... 28 5V* 54 5V* 43 35 Cap Adm pf A (3)_20s 43 43 43" 944 634 Case (JI)- 5 74 734 734 -14 1224 110 Case (J 1 )Co pf <7) 30s 115 K5 115 - *, 644 384 Caterpillar Traci2) 7 53 524 524 + V* 294 134 Celanese Corp ,50a_ 7 28 27V* 27** 1094 84 Celanese Dr pf (7).. 120s 1064 106 1064 + 4 194 74 Celotex Corp _ 4 10** 10H 104 - 4 724 58 Celotex Corp pf (5) 30s 594 59 59 30»* 184 Cent Aguirre (1.50) 1 244 244 244 + V* 5V* 2H Central Foundry . 1 3*, 34 3*i - 4 524 32 Cerro de Pasco (4). 4 384 384 384 *U7S VOI Laui’iwcu ...... O I i V4 7 Vi 47%. 22 Certain-teed of- 30s 34 33% 33% - % 29% 17% Ches Coro (1.20*).. 3 27 26% 26%+ % 47% 27 Ches & Ohio <21 .. 29 41% 40% 41V, + % % % Chi M StP& P (r)_. 1 % % % 1% % Chi M StP&P of (r). 1 % '» % 1% % Chi & Nortbwn (r). 2 % % % _ v* 20% 10 Chi Pneu Tool .. 2 16% 16 16 — % 50V, 44 Chi Pn T or of 2.50. 1 48 48 48 —1 39% 30% Chi Pneu T cv pf(3) 2 36 35% 35V,— % % V, Chi KUPlr) .. 1 % % % 15% 10 Chickasha C O .25g. 3 11% 11% 11% — % 94% 53% Chrysler <4g) 43 88% 87% 87% - % 14% 9 City Iee&Fuel .90g 1 11% 11% n% 97% 79 City Ice & F of 6.60 130s 92% 92 92% +1% 4% 2% City Stores_ 1 4 4 4 + % 115 106% Clev El Illu of 4.60. 20s 112% 112% 112% + % 39 20% Cleve Graphite < 1) _ 1 36”, 36% 36%+ % 60% 34% Climax Molib 1.20a. 2 48 48 48 — % 86% 21% Cluett Peabdv(.76g) 10 35 34% 34% — y{ 133 105 Coca-Cola <5g) ... 1 121 121 121 17% 11% Cnlgatc-Pal-P ,50a. 24 16% 16% 16% 107 101«» Colg-Pal-P pf <6) . 3 106 105'* 105% + % 24% 14 Colum RC(A)1.50g. 7 23% 23% 23% — % 24% 14 Colum BC(B)1.50g- 2 23% 23 23 — % 9 5% Columbia Gas & El. 15 7 6% 6% 91 74% Col G&E Df A (6)_ 2 82 82 82 +% 83 62% Col G&E of (6) .. 30s 70% 70 70 -1 15% 6% Columb P1c vtc 2%f 5 7% 7 7 _ 30Vi 16 Columb Pie pf 2.41k 1 18% 18% 18%+ % 96 73 ^Columb’n Carb 14). 1 93% 93% 93% +3 57 38% Cornel Credit (4)_ 2 46% 46% 46% - % 60 42 Cornel Inv Tr (4)... 4 51% 51% 51%+ % 16 8% Cornel Sol vents _ 19 12% 12 12% + % 31% 25% Comwlth Edls 1.65g 97 31% 31 31%+ % 2% 1% Comwlth & South’n. 17 1% 1% 1% _ y, 72% 45% Comwlth * S pf (3). 4 69% 69% 69%-% 8% 6 Congress Cigar_ 17 7 7 32% 15% Consol Aircraft_ 7 29% 29% 29% 9% 5% Consol Cigar (,76g). 2 8% 8% 8% + % 85 73 Consol Cigar pf (7). 20s 80 80 80 +1 91 79% Consol C or pf 6.60. 10s 87% 87% 87% + % 11 4% Consol Cop M(.30g). 4 8% 8% 8% - % 35 27 Consol Edison (2).. 30 31% 30% 30% + % 108% 101% Consol Edls of 46)_ 11 107% 107% 107% - % 2VI 1 Consol Film . 47 1% 1% 1% - % 12% 7'i Consol Film pf .76k. 4 9% 9% 9% + V, 7% 4% Consol Laundries.. 1 4% 4% 4% — % 9% 6% Consol 011 (.30> . 12 7% 7% 7% 9 1% Consolidation Coal- 2 6 6 6 - % 16% 9% Container Corp ,25g 9 16% 15% 15% nm. 111 i.i_1 • v rt 1 o 1 an, « n. , 4<«7I » » ' • WWMkJ VMOIlip. » *■ » - “ AW 'a *'7 ;j AW 7a - 71 2 1% Conti Baltin* (B> 8 IV* IV* 1% 100 87% Conti Bak 8%pf(6k) 2 96 95% 96 - % 51V* 32% Conti Can <2g)_ 9 43 42V* 42%+% 10% 6 Conti Diamond - 3 8 8 8 - % 38% 29% Conti Insur (1.60a). 8 37% 37% 37% 5% 1% Conti Motor . 71 4% 4% 4% - % 31% 19% Conti Oil (Del)-75c- 12 25% 24% 24% - *,4 67% 54% Corn Products (8)_ 5 63% 62% 63 + % 177 150 Corn Prod Df (7)_ 1 168% 168% 168% +1 4% 3 Coty. Inc (25*) - 4 4% 4% 4% - % 2% % Coty Internatl 20g. 8 1% 1 1% + % 38 16 Crane Co . 4 23% 23 23 - % 32% 26% Cream pfYVheat(2). 1 31% 31% 31% 41% 20% Crown Cork & Seal 2 29% 29% 29% - % 40% 33 Cr’n C&S pf ww 2.25 20s 38 38 38 16% 9 Crown Zeller (.66).. 10 15% 15% 15% + V* 62% 24% Crucible Steel- 7 44% 43% 43% - % 13 3 Cuban Am Sugar17 7 7 7% 3% Curtis Publishing.. 16 5 5 I 63% 38 Curt Pub pf 2.375k.. 2 49 48% 48%-% 4 A <t Prev. 1930 Stock end Bales— Net High. Low. Dividend Rate. Add 00. High Low. Close, chge. 13Vs 44 Curtiss-Wright . 207 11% 10% 104- 4 324 194 Curtlss-Wr (A) 2g. ' 14 314 304 30% — % 10% 4% Davison Chemical.. 1 7% 7% 7% 254 16% Deere & Co <.7.r>g)__ 20 22% 224 22%+% 274 23 Deere A Co pf(l.40) 2 254 25 25 -4 28 124 Del A Hudson_ 20 254 24% 24% - % 84 3% Del lack A Wn .. 2 64 6% 6% 1254 103 Detroit Edison (8g) 2 1244 1244 1244 + 4 32% 18 Devoe A Kavn (A). 20s 23 224 224 + 4 204 13% Dlstill-Seag 1.60g._ 10 16% 164 16% + 4 134 9% Dixie-Vorter(.50g) 1 13 13 13 354 30 Dlxle-Vor(A)(2.&0) 120s 34% 344 344 + 4 34 204 Dome Mtnee <2) ... 6 234 234 23% + 4 87% 65 Douglas Air (3g)._. 7 814 804 804 - % 1434 1014 Dow Chemical »3)_ 12 140 138 138 15% 6 Dresser Mfg__ 2 15 15 15+4 194 6% Dunhlll internatl_ 3 8% 8% 8% 1884 1264 Du Pont (3.75g)_ 16 178% 178 178% +1 1244 112 Du Pont of (4.60)_ 5 1224 1214 1214 - 4 25% 124 Eastern Air Liner.. 63 25% 25 254 + 4 8% 3% Eaetn Roll Mills... 1 6% 6% 6% + 4 1864 1384 Eastman Kodak IS) 5 1684163 163 1834 1554 Eastm Kodak pf(6) 10s 168 168 168 +5 304 154 Beaton Mfg (2)_ 11 30 29% 30 +14 194 15 Edison Broa Sts(l). 6 17% 17 174 + 4 3% 1 Ettlngton Schlld .. 3 1% 14 1% 40% 224 Elec Auto L (2k)... 12 57% 874 374 -% 184 84 Electric Boat .60g_. 36 17 164 16% — 4 12% 64 Elec Pwr A Light . 8 84 74 74 38 18% Eleo Pw A Lt 36 pf. 2 27% 27% 27% + % 414 204 Elec Pw A Lt pf_ 9 324 324 3^4 + 4 35 234 Elec Stor Bat (2)_ 2 31% 31 31 -% 424 28 El Paeo Nat O (2).. 2 414 414 414 +4 55 324 Endicott-John <3)__ 2 434 434 434 + Vs 134 7 Eng Pub Service . 9 12% 114 12 cu D3 c-ng ruu esvc di i o i on on on ti 1% A* Eqult Office Bid*_ 3 1 1 1 3 1 Erie RR (r) 1 2% 2% 2% 6 1% Erie RR 1st of (r).. 2 3% 3% 3% — 4 5% 3% Eureka Vacuum Cl. 6 4% 3% 4% + 4 13 6 Evans Products 1 10 10 10 25% 14% Fix-Cel 1-0 (,70k) 2 23% 2>% 23% - % 43% 24 ,,F'alrbk's-Morse .50* 1 35 35 35 — % 38% 20 Fajardo Sugar (2) 2 30 29% 30 18% 11 Fed l,t & Trac .. 2 15% 15% 15%+ % 96 81 Fed Lt & Tr pf (6).. 20s 92% 92 92 -1% s% 2% F'ed Motor Truck . 5 5% 5% 5% — % 1% % Fed Water Svc lA). 6 1 % 1 27% 18% Federat Dept S (1). 3 25% 25% 25% 23% 14% Ferro Enamel (1 >_ 1 21 21 21 38 27% Fidelity Phoe 1 60a. 4 37% 37% 37% - % 25% 17% F'lrestone Tire (1)2 20% 20% 20% — % 61 38% First Natl Sirs 2.50. 2 45% 44% 44% + % 31% 15 Fllntkote Co .. 6 20% 20% 20% - % 38 25 Florence Stove (2).. 1 35% 35% 35% + % 6 1% F'ollanshee Bro ir)_ 1 3% 3% 3% — % 29% 14 F'oster Wheeler_ 2 19% 19% 19% — % 9% 1% Francisco Sugar . 1 4% 4% 4% — % 55 27 Franklin Simon pf. 20s 35 34 35 +1 36 1814 F'reepot t Sulph (la) 17 34 33% 334, + % 3% 1% Gabriel (At _ 3 2% 2% 2*4 + % 5% 2 Galr (Robert) _ 17 4% 4% 4% 18% 7% Galr (Robert) pf . 1 16% 16% 16% +1% 65 40 Gen Am Tran 1.125k 4 54% 53% 64% + % 11 7% Gen Baking (,45g).. 1 7% 7% 7% 5% 2% Gen Bronze_ 1 3% 3% 3% 18 9 Gen Cable _ 1 11% 11% 11% 25% 1B% Gen Cigar (1.50g)._ 1 17 17 17 130% 106 Gen Cigar pf (7)... 10s 114 114 114 44% 31 Gen Electric 75*... 58 39 38% 38% - +4 47% 36% Gen Foods (2a) _. 15 44% 44% 44% s % 118% 107% Gen Foods pf(4 50). 1 115% 115% 115% + % 1 % % Gen Gas A El IA I . 1 % % % 99 72% Gen Mills (3.75g>__ 2 90% 90 + 90%+% 127 117 Gen Mills pf (6) . 1050s 124% 123 124 +1% 56% 36% Gen Motors! 3.50g)_ x 82 55% 54% 54% — % 126% 112 Gen Motors pf (61.. 2 123% 123 123 -1% 6% 3% Gen Outdoor Adv 1 4% 4% 4% 38 28 Gen Outd Ad A (4k) 1 36 36 36 +1% 1% % Gen Public Service. 11 1 l — % 28 12% Gen Rwy Signal _ 1 20 20 20 1% % Gen Realty A Util . 7 % Ai % + % 41 19% Gen Refractor 25*. 2 35 35 35 + V, 15% 12% Gen Shoe (1.20) ... 1 14% 14% 14% - % 43% 16 Gen Steel Cast pf 20s 34% 34 54 — % 19% 13% Gen Telephone (1). 3 19 18% 18% - % 15% 8% Gen Thea F2q l.6."g). 1 13 13 13 99% 97 Gen Time Inst pf 6. 80s 98% 971+ <J8% +2% 27% 15% Gen TlreJkRub .60*. 3 23% 23 23 — % 8% 5% Gillette Saf R (.60) 1 6% 6% 6% - % 54 43% Gillette S R pf (6).. 2 48% 48% 48%+% 13% 6% Glmbel Bro*_ 6 10% 10% 10% 24% 14 Olldden Co ... 2 17% 17% 17% - % 47 34 Glidden cv pf (2.25) 1 39% 39% 39%+% 3% 2% Gobe) iAdolf) 3 3% 3% 3% + % 2% 1% Goebel Brew (,20a). 2 2% 2% 2% — % 24% 13% Goodrich I R F > 44 21 20% 9m. + 1 u 74% 53 Goodrich! BFlpf (5) 6 67 66 67 +1% 38% 21% Goodyear Rub (1)__ 25 24% 24% 24% + % 109% 87 Goodyear pf (5)_ 2 92 91% 92 +1 5% 2% Gotham Silk Hose.. 2 4% 4% 4% — % 1% % Oraham-PalRe .. 13 1% 1% 1% — % 10% 4% Granby Consol .40g. 3 8% 8% 8% + % 1% % Grand Union 11 1 1 18% 11 Grand Un pf(14tk). 1 16% 16% 16% — H 35 24% Grant IWT) <1.40). 2 34% 34 34%+% 25 22% Grant(W T)pf (1).. 4 24 24 24 - % 33% 16% Great North n pf .. 22 28% 27% 27% -1 22% 12% Great No O cfa 75*. 2 18*, 18% 18% + % 37% 23% Great Wn Sur (l).. 4 30', 29% 29% — % 35% 24% Green (HL) (2)_ 2 32% 32 32 -% 21** 14% Greyhound <.*0> _ 73 18% 18 18% + % 22% 11 Gulf Mob & Nor nf. 1 19 19 19 92 71 Hat Corp pf (6.50).. 10s 91% 91% 91% + % 4% 2 Hayes Bode . 26 4% 4% 4% + % 110% 93 Hazel-Atlas G1 (5). 1 108% 108% 108% - % 13% 8% Hecker Prod ( 60a). 4 10% 10% 10%+ % 101% 63 Hercules P (1.20r). 2 85 84% 84%+% 51 29% Holland Furn (2)_ 2 34% 34% 34% + % 11% 7 Hollander (A)_ 3 8% 8 8 21% 8% Holly Sugar_ 4 13% 13% 13%+ % 66% 47% Homestake (4.60).. 22 60 68% 58% 36% 27 Houd-Her( A) (2.50) 1 32 32 32 + % 17V, 8% Houd-Hersh(Bl 25g 2 13% 13% 13% — % 110% 102 Household F pf (5). 1 109% 109% 109% +4% 9’, 4% Houston Oil _ 1 6% 6% 6% + % 57 40 Howe Sound (3a)... 1 54% 44% 54% + % 35% 21% Hudson Bay 1.75g_ 21 28% 28% 28% + % 8% 4% Hudson Motor_ 1 6% 6% 6% — % 2% % Hupd Motor_ 12 1% 1% 1% 20% 9 Illinois Central_ 6 14% 14 14 35 16% Illinois Central pf_. 1 27% 27% 27% + % 49 38% Illinois Cent LLl 4) 10s 47 47 47 -1% 29% 16% Indust Rayon .25r_. 4 25% 25 25 — % 131 86 Ingersoll Rand(5c) 3 120 119% 119% + % 98% 67 Inland Steel (2.50r) 2 87% 87 87 21 9% Inspiration Copper. 5 15% 15% 15% — % 5% 4% Insuranshares .18g. 1 5>« 5% 5% 9% 2% Interboro R T (r)_ 40 4% 3% 3% + % 46% 17% Interchem (.40c)_ 1 41 41 41 - % 109 90 Interchem pf (6)_ 80s 109% 109 109 + % 5% 2% Intercontl Rubber.. 1 4% 4% 4% + V, *712. IntesUlra li.nn C 107. lOl, 10t; 1/ 71% 45% Inti Harvester 1.60. 13 63% 63 63 - % 8% 3% Inti Hydro-El (A).. 3 5% 5% 5% 17% 2% Inti Mercantile Ma. 103 8 7% 8 — % 10 5% Inti Mining (.30g).. 2 7 7 7 — % 55% 36% Inti Nickel Can (2). 34 40% 39% 39%-% 14% 6% Inti Paper & Power 8 13% 12% 12% 52% 25% Inti Paper A Pw of 42 50% 49% 49%—% 60% 39% Inti Ry C A pf 5.75k 20* 49% 49% 49%-% 40% 31% Inti Shoe (l.50a)... 2 38 37% 38 +% 9% .3% Inti Tel A Teleg_ 12 i 4'* 4% 9% 4 Inti T A T for ct_ 2 5 5 5 + % 14% 7% Interstate Dept St-. 1 12 12 12 10% 7% Intertype Co (,2Cg). 1 8 8 8 — % 18 13 Jams (WB) tig)_ 1 16% 16% 16% 85 68 Jewel Tea (4a)_ 2 80% 80 80% +1% 105 59 Johns-Manvllle ,75g 9 75% 75 75% 19% 13 Kalamazoo Stoy .50. 2 17% 17% 17% + % 24 11 Kan City So pf (lg). 2 22 22 22 + Vi 14% 7% Kelsev-Hayes (A). 2 11% 11% 11% 99 79 Kendall of (6) 10* 88 88 88 +2 46% 28 Kennecott Cop .76g. 42 40% 40 40 — % 16% 8% Keystone Stl 60s .. 2 15% 15 15 — M 37% 20 Kimberly-Clark la 1 35 35 35 - Vi 4 1% Kinney (GR) 13 3 3 30% 12% Kinney 75 pf(1.50g) 20* 27% 27% 27% + V* 26% 20 KresgeiS SM1.20). 4 25% 25% 25% + Vi 29% 23% Kress(S HH1.60).. 1 26% 26% 26% 29% 20V* Kroger Groo 1.60a.. 14 28% 28% 28% + <8 13% 7 Laclede Oas _ 30* 9% 9% 9% + % 18% 14 Lambert (1.60)- 1 16% 16V, 16% + Vi 25 17 Leh Port Cmt 1.25g l 22% 22% 22% - Vi 118 113 Leh PortC pf (4)... 20* 116% 116% 116% + % 3% % Leh Valley Coal .. 4 1% 1% 1% 8% 1% Leh Valley Coal of. 1 4% 4% 4% - Vi 6% 2% Leh Valley RR (r).. 2 4% 4% 4% - Vi 27% 20 Lehman Corp (.80). 8 23% 23% 23% - % 32V* 23 Lerner Stores (2)._ 1 27% 27% 27% -Vi 56% 36% Llbbey-Ow-F l.BOg. 20 52V, 51V* 62 + V< 10 4% Libby MoN A Lib 2 6% 6% 6% + Vi 109% 95% Llgg & Myers(B)4a 8 99% 99% 99% + % 47 31% Link Belt (1) ... 1 41% 41% 41% 64% 30% Loew’s. Inc (2a) ... 3 35% 35% 35% + % 109% 101% Loew’s Inc pf (6.50). 5 106% 106% 106% + Vi 21% 6 Loft lno _ 24 17% 16% 16% - Vi 62 38% Lone Star C <»)_ 2 45% 45 45 6% 2 Lone-Bell CA) 2 4% 4 4 - Vi 22% 16% Loose-Wiles (1).._. 3 17% 17% 17% - Vi 110 105 Loose-Wiles pf (5). 20s 106 106 106 24% 19% Lorlllerd (1.20) 5 23% 23% 23% - Vi 67 36% Louis A Nash 2.25g. 2 58% 58 58 - Vi 35 28 Mao AndAForb (2). 1 30% 30% 30% 33% 18 Mack Trucks _ 9 31% 30% 30+*- M 43% 25% Macy (RH) Co (2).. 7 32% 32% 32% + Vi 19% 11% MadisSqGarl.35g. 2 12% 12% 12% 14% 5 Man Ky mod gtd(r) 33 15% 14% 14% 14% 12% Man Ry mod gtd ct. 2 15% 15 15%+ Vi A A I , A •* r, . * A Art n A A A A A . m. 27 27 Manhat Ry gtd ctfs. 10s 28 28 28 ,+1 5% 4% Marina Mldl'd .32*.. 21 5% 5% 5% + X 17% 9% Marshall Field_ 7 16 15% 15% - X 45% 26% Martin (Glenn)_ 22 41% 40% 40% - X 6% 2 Martin Parry__ 3 5% 6 5% 57% 30 Masonite Coro (1)_ 3 38 38 38 37% 20% Math Alkill (1.60)„ 1 29% 29% 29% + X 63% 40% May Dent Strs (8).. 6 52% 61% 51% - X 6% 3% Maytag Co _ 1 4% 4% 4% 16% 9% McCrory Strs_ 31 16% 16% 16% + X 24 15% McGraw Eleo (1)—. 3 22% 22% 22% - X 69% 39 McIntyre Pore (2a). 6 46% 46% 46% + V 18% 8% McKeesport Tin .. 4 13% 13% 13% - X 10X4 6% McLellan Strs .60g_ 4 10 9% 10 + X 14% 6 Mead Corn . __ 1 11% 11% 11% + X 66% 46 Melville Shoe (4)—. 21 68% 66% 68% +2X 6% 3 Mangel Co _ 1 5 5 5 — V 28% 14 Mengel Co 6% pf— 130s 21% 21% 21% - X 21% 11% Merch * Min T ,75g. 60s 16 16 16 -1 39% 25 Mesta Mach l.SOg.. 1 35% 35% 35% 16% 6X4 Miami Copper_ 1 11% 11% ,11% + X a x Prev. 1039 Stock and Bales— Net. High. Low. Dividend Rate. Add 00. High. Low. Close, chge. 18 11* MidContPet <.60g) 3 15* 15 16 37* 18* Mid Steel <1.60g)._. 3 33 33 83 -* 120* 101 Mid Stl lat pf (8).. 20i II8V4 118* 118* 68* 44* Mlnn-Hon Ros (8).. 2 61* 61 61* + % 6* 2* Mtnn-Mollna Imo 1 4* 4* 4* 64 36 Minnas p-Moltne Df 2 43 43 43 -2* 14* 8V, Mission Corp <.25g) 1 10* 10* 10* + * 2* 1 Mo-Kan * Texas... 13 1* 1* 1* - * 9* 2* Mo-Kan ft Tsxas pf 2 6* 6* 6* 2* * Mo Pacific Df (r) 2 1* 1* 1* 21 10* Mohawk Carpet .75g 3 20* 20 20* + V4 114* 85* Monsanto <21 7 107* 107 107 + * 57* 40* Montgom Wd 1.25g 21 54* f4H 54* - * 37* 22* Morris ft Es <8 875) 10s 33 33 33 17* 10 Motor Wheal <1*0) 2 17 16* 17 30 16* Mueller Brass .80g_ 2 25* 25* 28* + * 14* 9 Munsinawear_ 1 11* 11* 11* — * 9* 4 Murray Coro__ 11 6* 6* 6* + * 9* 6* Nash-Kel vinator... 22 7* 7 7 26* 14 Nash Chat ft St L>_ 10s 23 23 23 18* 7* Natl Acme ... 2 16* 16* 16*-* 15 7* Natl Aviation .60*.. 3 13* 13* 13* + * 28* 21* Natl Biscuit (1.60). 23 22* 22* 22*— * 175 147* Natl Biscuit pf (7). 1 156 156 156 +1* 16 IOV4 Natl Bond & In 60g 3 16 15* 16 26* 14* Natl Cash Reg (1) 5 16* 15* is* — * 16 8* Natl Cyl Gas ( 35g) 2 13* 13* 13* + * 18* 12* Nat Dairy (,60r) . 6 16* 15* 15* + * 117*110 Natl Dairy pf A<7). 20s 116 116 116 114 107 Natl Dairy of B<7). 110» 112* 112* 112* 8* 4* Natl Dept Stores .. 3 7* 7* 7* 28* 20* Natl Distillers (3). 2 24 23* 23* - * 16* 8* Nat) Gypsum _ 1 n* n* 11* + * 27* 17* Natl Lead ( 60) . 6 21* 21 21 — * 145 132 Natl Lead pf(B)(t) 20* 144 144 144 +1 35'* 14* Natl Malleable _ 2 29 28* 29 + * 10 6* Natl Pwr ft L ( §0). 4 8* 8* 8* 82 52 Natl Steel (1.20r).. 10 75* 75 75 + * 15* 5* Natl NUDDlv 6 10 9* 9* + * 59* 33* Natl Sup 6* .6875k. 2 41* 40* 40* -1 5* 2* Natl Tea Co _ 9 4 4 4 11* 8* Natomas < 10)_ 3 9* 9* 9* + * 17* 8* Newport Indus_ 3 14 13* 13* — * 23* 11* N Y Centra! _ 60 20* 19* 19* - * 25* 10* N Y Chi ft St Louis. 1 21* 21* 21*— * 45* 18* N Y Chi ft St L Df 2 38 37(4 38 —1 43* 30 N Y C Omnibus (3a) 2 33* 33 33*+ * 1* * N Y N H A H (r) . 6 1* 1* 1* — * 5* 2 N Y N H & H of (r). 6 3* 3* 3* 17 8* N Y Shipbuilding .. 4 15* 14* 14* -1 216 168 Norfolk ft Wn (10). 1 212 212 212 +1 •;Q 1 /. 1 ->RZ X* A A,.!_ 1 A n _ Art rtev. ^ -.i 26% 18% North Am Cot 90*) 24 23'/* 22% 22% 59 50% No Am 6%%pf 2 875 1 57 57 57 — y4 ' 59% 62% North Am 6% pf(3). 2 57% 57% 57% — % 14% 7 Northern Pacific . 7 10% 10% 10% — % 112% 100 Nor’nSta P» of <61. 1 109% 109% 109% - % 6% 2% Norwalk Tire _ 4 6 5% 5% t 10% 6 Ohio Oil ( 20c) .. 4 7% 7% 7% 30 14% Oliver Farm FouId. 3 23 22% 22% 20% 12 Omnibus Corp 1.20a 1 14 14 14 — % 113% 100% Omnibus pf <81 . 100s 104% 104 104 - % 27% 15% Otis Elevator .90g . 16 18% 17% 18 — % 16 7% Ons Steel 4 12% 12% 12% 70 50 Owens-Ill Glass (2) 4 63% 63 63% + % 7% 2% Pacino Coast __ 20s 7% 7% 7% — % 25 11% Par Coast 1st pf 40s, 24 24 24 — % 12% 9% Pac Finance < 90*). 2 12 12 12 ~ % 34% 27% Pac Gas A Elec (21. 5 32 31% 32 21% 9% Pac Mills 1 16 16 16 33% 17 Pac Tin spl (.75*).. 1 31% 31% 31% - % 11% 7% Pac ‘.Vestn Ol 60e). 2 8% 8% 8% + % 4% 3 Parka rd Motor .. 23 3% 3% 3% + % 16% 9% Pan-Am Airways... 6 16% 15% 15% — % 14% 6% Paramount 1 15*1.. 26 8% 8% s% + % 107% 72 Paramount 1st (8). 3 90 89% 90 +1% 13% 7% Param t 2d pf < *0). 1 9% 9% 9% + % 4 1% Park Utah Mines . 4 2% 2% 2% 47 36 Parke Davlsil 60*). 1 44% 44% 44% — % 2% 1% Parmelee Trans .. 2 1% 1% 1% + % 13% 5% Pathe Film ... 32 11% 10% 10%+ % 11% 7% Patino Mines 6 10% 9% 10% - % 57% 48 Penlrk A Ford 2 25* 1 5.7 53 53 94% 74 Penney (JC) 2 25* 10 90% 89% 90% + y4 16% 11% Penn Glass Sand ct 1 12% 12% 12% — % -7% 15 Penn Railroad (le) 107 25% 25% 25% — % 45 30% Peoples G A C 2.50* 1 41 41 41 + a4 40 13% Pere Marauette pf 40s 31% 31% 31%+ % 45 21 Pere Maro prof ... 20s 34% 34% 34%+lV4 ! 25 17 Pet Milk (1) .. 1 20% 20% 20%+ % 10% 6% Petrol’m Corp SO* 2 8% 8% 8% 47% 28% Phelps Dodge 1.50*. 12 40% 40% 40% — % 48% 36 Phlla Co S6 pf <3) _ 1 46% 46% 46% +1% 1% % Phils A R C A 1 (r). 4 % % % 103% 74 Philip Morris (Sa).. 2 85% 85% 85% + % 46% 31% Phillips Petrol 12). 6 41% 40»4 40% -1 9% 6 Pierce Oil of .. 1 8% 8% 8% 31% 23 PI 11 shury FI (1.60). 1 26% 26% 26% — % 51 35% rirelli Corp 10s 45 45 45 -1 32% 12 Pitts Coal pf .. 1 26 26 26 -2% 95 50 Pitts CA Ir Df (5) 30s 76% 76% 76% 175 158 Pitts FtWACpf (7) 40s 169 169 169 11*4 4% Pitts Screw_ 8 8% 8% 8% — % 16% 7% Pitts Steel ... 2 13% 13% 13%-% 48% 22 Pitts Steel of (B)._ 10g 40 40 40 -7 25% 12% Pitts Steel 5% pf.. 50s 22% 21% 21*. +1% 20% 6 Pitts AW Vs _ 160s 16% 16 16%+% 16% 7% Poor A Co <B) 3 13% 13% 13% + % 2% % Port R Am To Afr). 3 % % % + % % % Port R Am To B(r). 2 % v* % - % 16% 6 Pressed Steel Car 8 13% 12% 12%-% 16% 6% Pressed Stl C 1st pf 2 13 13 13 -2 65 50% Proctor A Gam <2a) 5 63% 63% 63% + % 41% 31% Pub Svc (NJ> 1.85*. 6 40% 39% 39%+% 128% 112 Pub SvctN Jpf < 6) 2 123% 127% 123% +1% 143 129 Pub Svc (N J >pf<7) 2 141% 141 141% +1% 166 147 Pub SvctN J )pf <8) 10s 159% 159% 159% 41% 22% Pullman Co (.75*).. 17 35% 35% 35% 90% 79 Pure Oil pf (6)_ 1 83 83 83 + % 81% 63% PureOilof (61_ 3 77% 77 . 77% - % 18% 10% Turity Bak 1.50g ._ 8 164 16% 16% 8% 5 Kadlo Corp __ 13 64 64 64 674 53% Radlocv pf (3.60).. S 69% 69 59% +1% 24 1% Radio-Kelth-Or (r> 2 1% 14 14-4 23% 16% P.aybest-Man(.75g) 6 21% 214 21% + % 174 6% Rayonler Inc _ 6 164 154 16 264 12V* Kavomer Inc pf_- 3 25% 25% 25% 22% 10% Reading Co (1)_ 2 18% 17% 17%-% 28% 20% Reading 1st pf (2).. 1 26 26 26 27 16 Reading 2d pf (2).. 1 22% 22% 2 4 174 9% Keming-Rand .80_ 6 114 10% 10 , + 4 2% 4 Keo Motor ir)_ 8 2% 2 2 - % 28% 124 Republic Steel_ 43 244 234 23%+% 92 43 Rep Steel cv pf .. 2 85 84 85 +24 89% 42 Rep Steel pfA 4.50k. 1 76 76 76 +1 20% 9% Revere Copper .2. 1 15% 15% 15% — 4 11% 54 Reynolds Spring . 2 9 9 9 45 35 Reyn'lds Tob<B)2g. 21 38% 38% 38%+% 10% 6% Richfield OH _ 17 94 9 94 + 4 9% 64 Ritter Dental_ 1 9% 9% 9% + % 17% 10 Roan Antelope ,40g. 2 11 11 11 49% 27% Safeway Strs 2.50a. 13 49 48% 48% + % 109 82% Safeway pf (6) 130s 103 1024 103 49% 27% 8t Joseph Dead .75g 2 39% 394 394 -% 174 10 Schenlev Distillers. 1 13% 13% 13% 1 % Schulte Retail S(r). 8 % % %-% 1 V* Seaboard A L <r)__ 6 % % •% 24% 154 Seaboard 011 (1)_ 2 20% 20% 20% 3% 1% Seagrave Corp_ 3 2% 2% 2% - % 854 60% Sears Roebuck (3a) 11 82% 81% 82 - % 18% 11% Servel Inc (la) ... a 4 15% 154 15% - 4 74 34 Sharp & Dobme _ 3 6% 6 6 54 43 Sharp & D pf (3.50) 1 53 63 53 11% 6% Shattuck (FQX.40) 2 7% 7% 7% 38% 28 Sheafter Penn 2.75g 20s 37% 37 37 + % 17V* 94 Shell (Jn Oil (.Z6gi. 6 14 14 14 + % 107 98% Shell UnO pf(5.50). 2 105% 105% 105% +1 84 4% Silver King.lOg_ 1 74 7% 74+% 3% 2% Simms Petrol _ 32 2% 2% 2% + % 28% 16% Simnnds Saw l.40g 7 26V* 25% 25% 26% 15% Skelly Oil (.50g) .. 1 2l 21 21 +% 1104 101 Sloss-Sheff pf (6)— 60s 108% 108% 108% + % *• r.ui Prev. 1939 Stock and Sales— Net. Hlfh. Low. Dividend Rate. Add 00. Hlah. Low. Close, chee. 21 11% Smith (AO) ... 1 18% 18% 18%-% 1 15% 10% Socony-Vao'm .50*. 40 13 12% 12% 3% 1% So Amer Gold .20g.. 2 2% 2% 2% + % 36% 14 8 Porto R Sug 1.25g 1 24% 24% 24% - % 142 127 South PRSpf (*). 40* 137 136% 137 + % 29% 23% Southo Cal Eld 1.50a 2 26% 26% 26% - % 21% 10% Southern Paclllc... 20 16 16% 16%-% 23% 11% Southern Railway.. 16 19% 18% 18%-% 35% 15% Southern Rwy of .. 23 33 32% 32%+ % 3% 1% Sparks Wlthlngton. 10 2% 2% 2% — % 9% 4% Spear* Co.. 1 8% 8% 8% + % 61% 36 Sperry Corp <lg)-.. 13 47% 46% 46% - % 33% 11 Spicer Mfg (2r)_ 1 30% 30% 30% 16% 8% Spiegel. Inc (.30g)_. 4 11% 11% ’l%-% 75% 60 Spiegel Inc pf 4 50. 110s 61% 61% j1% + % 30% 18% Square D Co <.75g). 28 31 29% 31 +2% 7% 6% Stand Brands .476g. 12 5% 5% 5% 10% 4% Stand Gas * Elec pf 9 7% 7% 7% - % 25% 1S% Stand G*E*7 prpt. 8 22% 22% 22%+% 33% 24% Stand Oil Cal (la>.. 11 26% 26% 26%-% 30 22% Stand Oil Ind (la).. 9 27% 26% 26%-% 63% 38 Stand Oil N J (la41 47% 46% 47 - % 79% 65 Sterling Prod(3.*0) 4 77% 77 77 + % 12% 6% Stewart-Werner ... 2 9% 9% 9% — % 7% 3% Stokely Brothera .. 1 5% 5% 5% 17% 8% Stone*Webster.25g 14 12% 12 12 - % 10 6% Studebaker _ 17 9% 9 9 - % 66 45% Sun 011(1) .. 6 59 % 58% 59%+% 11% 7% Sunshine Min 1.60.. 2 10% 10% 10% 38% 19% Superheater (.50).. 2 27 26% 27 +1 3% IV* Superior Oil 3 2% 2% 2% + % 25% 17 Swift* Co (1.20)_10 21% 21 21 -% 37% 24% Swift Inti (2)_ 4 30% 30% 30%-% 12% 4% Symington ww__ 6 9% 9% 9% — % 9% 3% Symington xw__ 1 7% 7% 7% - % 43% 33% Talcott(J)pf<2 76). 10s 38% 38% 38%+lV4 6% 3% Telautograph .25g_. 2 4% 4% 4% + % 9% 4 Tenn Corp _ 3 7 6% 6% 60% 32% Texas Corp (2)_ 20 46% 46 46 -1% 38% 26 Tex Gulf Sul (2)_ 3 33% 33% 33%+ % n o'* lemracLO Tr... z b+ b* b* 22* 8* Texas & Pac Rwy_ 1 14* 14* 14*-* 41 30 The Fair pf._. 10s 38 38 38 -1 6 2* Thermold __ __ 9 5* 4* 4* — % 32* 14 Thermold pf 1.75k-. 110s 30 29* 29*-* 3* 1* Third Avenue _ 8 3* 3 3* + * 4* 2* Thompson (J R)_ 1 4* 4* 4 + 33* 17 Thomp Prod ,75g_ 2 30* 30* 30* + * 3* 1* Thompson Starrett. 2 2* 2 « 2* 14* 9% Tide Wat A O ,80g _ 1 11* 11* 11* — * 96 83 Tide WAO pf (4.50). 1 92* 92* 92* - * 22* 10* Timken Det Ax .25g 10 22* 22+ 22* 64* 34* Timken R B 2.50g _ 4 50* 50+ 50+ + S 8* 5 Transamerlca (.50) 2 6* 6* 6* 12* 6* Transcontl A W Air 65 11% 11+ 11+ — * 10* 5* Transue & Wlllma.. 1 9% 9* 9* + * 4+ 2 Tri-Continental_ 1 3* 3* 3* 88 74 Tri Conti pf (6)_ 1 77 77 77 -2 26* 12 20th Century Fox... 10 13* 13* 13* + * 12* 7* Twin Coach ... 5 11* 11* 11+ + * 12* 6 Union Bag & Paper. 3 11* 11* 11* + Vi 94* 65* Union Carb (1.90c). 8 87+ 86* 86* -1 118 108* Union EHMo)pf(S) 60s 115 115 115 +* 19* 15* Un Oil (Cal) 1.05g_. 3 17* 17* 17*- * 105 81* Union Paciho (6i .. 4 101 100+ 100+ - * 90 78 Union Pac of <41 . 1 86* 86+ 86 + 61 31 Unit Aircraft (2g)_ 22 47* 47* 47* 13* 7* Unit Air Lines .. 180 14* 13* 13* + * > 18* 14+Unit Biscuit (1) ... 1 15% 15% 15% — + j 119* 112* Unit Biscuit pf (7). 10s 119 119 119 +3 I 69* 52 United Carbon 121. 2 65* 65 65% — * 3* 2 Unit Corn 26 2+ 2* 2* 39* 30* Unit Corp pf(3.45k) 5 38* 38 38+ + * 7* 4* Unit Drug .. 12 5* 5* 5* — + 8* 3* Unit Electric Coal.. 2 5* 5* 5* 95 62* United Fruit (4)_ .3 85 84+ 84* 14* 11 Unit Gas Imp (1)_ 10 14+ 14* 14 + 14 6+ Unit Mer A Mfg_ 2 11* 11 11 11 5* U S A For'n Secur_ 1 7+ 7* 7* - * 14 5V» U S Freight _ 2 11 10+ 10* - + 113 65* U S Gypsum (2a)... 2 83* 83* 83 + 29+ 13+ U S Indus Alconol— 1 23* 23* 23* 10* 3* U S Leather .17 7 7 49 32* U S Pipe A Fdy(2a). 11 37+ 36* 36*-* 6* 1* U S Realty & lm(r) 3 1* 1+ 1* 52* 31* U S Rubber 20 39* 38* 38+-* 114* 86* U S Rub 1st pf(12g) 4 113*113 113 -1 68+ 48 U S Sm & Ref (4)... 4 62* 62 62 82*4 41+ US Steel 75 71+ 69* 69* - % 120* 98* U S Steel rf (7)_ 9 117 116*116*- + 37* 30 US Tobacco 96g .. 4 34* 34 34* + * ! 8+ 6+ Unit Stkyds of(.70) 1 7 7 7 - * j 2* 1+ United Stores (A)_ 20 2+ 2* 2* - * ' 1 * Vadsco Sales_ 1 * * * 21 16 Vadsco Sales pf_ 20s 19 18* 19 -1 40 16 Vanadium Corp_ 4 35 34+ 34* 39* 25 Van r.aalte (2a)_ 9 40 39* 39* 43 34* Vick Chemical (2a) 1 41V* 41% 41* — +i 28* 18* Victor ChAm (.75g). 1 26* 26+ 26++ + 5* 2* Va Caro Chemical.. 3 4+ 4+ 4* 118 112* VaEl Pwrpf («) 30s 116 116 116 129 116 Virginian Ry pf (6) 1 130 130 130 +2 ! 95 64* Vulcan Detin ii.60g. 160s 93* 93 93 3* ilj Wabash pf <A)(r)-. 1 2* 2* 2* 23* 15* Walgreen (1.60)- 2 21+ 21+ 21++ + 50* 30* Walker (H)(4)_ 1 36+ 36+ 36+ + + 20* 14% Walker (H)pf(l)_ 1 16* 16* 16*+ + 9* 4 Walworth Co__ 5 7+ 7+ 7 + 14* 7* Ward Bak (A)_ 1 8+ 8+ 8+ - v» 2* 1* Ward Bak (B)_ 5 1* 1+ 1* - * 6* 3+ Warner Bros Plct._ 21 4* 4+ 4 + 3* 1+ Warren Bros <r)... 2 2+ 1* 1*— Vi 35* 19* Warren F & P (2a). 1 31* 31* 31* 24* 14* Waukesha Mot (1). 1 20* 20* 20* - * 32* 20 Wayne Pump 1.50g_ 1 23'* 23* 23* 284 lb wesson uil&snow 2 234 234 23V. + % 104 85 West PennEAlH. 20g 104 104 104 105 88 West Penn E pf(«) 10s 102 102 102 + V, 112 95 West Penn El pf<7) 60s 1074 1074 1074 115 1054 W Penn Pw pf 4.50. 1 1144 1144 114V, 34 4 204 West AutoS (2a) ... 7 344 344 344 + 4 2 4 Western Pacific pf. 5 14 14 14 37 164 Westn Union Tel .. 14 284 28 284 37Vi 184 Westhse A B .62584 3 294 29 29 - 4 121 824 Westhse Elec 2.oUg. 12 113V. 1124 1124 + V. 145 126 Westhse E pf (2.60) 60s 137 137 137 +1 27V* 104 Weston El Insttle) 15 274 264 274 +1 40 37 Weston El In A (2). 20s 37ft 37ft 37ft - H 324 154 Westveco <la)_ 7 324 32 32 -4 384 154 Wheeling Steel_ 7 354 344 344 154 7 White Motor _ 4 144 14 14 - 4 7 34 White Rock Min Sp 17 64 64 64 - 4 44 14 White Sewing Mch. 4 44 44 44 + 4 30 14 White Sew Mch pf.. 1 30 30 30 34 1 Willys-Overland .. 9 24 24 24 64 24 Wlllys-Overl'd pf_ 1 44 44 44 74 24 Wilson * Co _ 20 64 54 6 +4 56V, 32 Wilson* Co pf_ 9 594 68 59 +2 314 15 Woodward Iron_ 2 254 2 54 254 +4 504 36 Wool worth (2.40).. 21 394 394 394 - 4 234 104 Worthington Pump 3 194 19V, 194 + 4 69 43 Worth Pump pf(B). 100s 674 674 67V, -14 534 314 Worth Pcv pr Df— 2 494 484 494 +14 1244 85 Wright Aero (2g).. 20s 116 116 116 -24 214 114 Yellow Truck .. 30 204 194 194-4 123 98 Yell Tk 7% pf 5.25k. 60s 1234 123 1234 + ■4 214 94 Young Spg & Wire. 3 134 134 134 -4 564 30 Ygstwn Sheet & T.. 12 504 494 494 -4 34 17 Ygstwn Stl Dr .50g. 6 29 28', 284 -4 224 12 Zenith Radio (lg) 1 184 184 184 +4 34 2 Zonlte Products_ 1 24 24 24 — 4 Approximate Sales of Stocks on the N. Y. Stock Exchange 11:00 A.M_ 190,000 12:00 Noon_ 310.000 1:00 P.M.. _ 380.000 2:00 P.M_ 450,000 sOnlt ot trading 10 shares rln bankruptcy or receivership or being reorganised under Bankruptcy Act or securities assumed by such companies. Rates of dividend In tne foregoing table are annual dlsburae ments based on the last Quarterly or semi-annual declaration. Unless otherwise noted, special or e*ira dividends are not included xd Ex dividend xr <x rights a Also extra or extras e Paid •ast year, f Payaole In stock g Declared or paid so far this year h Cash or atock k Accumulated, dividends paid or d* dared this rear. Erie Cites Earnings In Reorganizing Plans By the Associated Press. Tire Erie Railroad told the Inter state Commerce Commission today that sharp improvement in earn ings recently had justified fully its own proposal for reorganization. Edwin S. S. Sunderland, counsel for the Erie, who made its argu ment in support of its reorganiza tion plan, said the bankrupt railroad likely would have $12,500,000 income available for charges for 1939. The Erie’s reorganization plan provides only $6,484,537 in annual fixed charges. Because of improved conditions, Sunderland said he thought $14, 000. 000 of new money would be ade quate to carry out the reorganiza tion. The Erie’s original plan called for $21,500,000, while Milo Brinkley, 1. C. C. examiner, recommended $18,000,000. The three plans before the I. C. C. —that by the Erie, another by in stitutional bondholders and the third by Brinkley—differ in many details, including the treatment of , present stockholders. , The Erie plan would give present preferred and common stockholders 1 share-for-share in new common stock. Brinkley would give the [ stockholders one share of new com mon for each share now held and i the right to purchase additional > stock. The institutional group’s 1 plan would give present stockhold 1 ers only the right to purchase new common at $36.25 a share. , Edward W. Bourne, counsel for the institutional group, argued for the adoption by the I. C. C. of that group's proposal. He said it rep resented “a substantial agreement of creditors.” The Chesapeake & Ohio Railway now owns 55.68 per cent of the Erie's voting stock for which it paid $44,825,295. Monarch Machine Announces Extra Bt the Associated Press. CLEVELAND, Nov. 15.—Monarch Machine Tool Co. directors yesterday ordered an extra dividend of 35 cents a share in addition to the quarterly dividend of 30 cents, both payable December 1 to holders of record November 21. The company paid 30 cents September 1. Carloadings NEW YORK, Nov. 15 I/P.—Revenue freight carloadlngs on railroads reporting today for the week ended November 11 Included: Nov. 11. Pv. wk. Yr. ago. Norfolk Sc Westn 31.415 32.494 28.267 Southern Pac___ 40.465 41.831 36.467 The war in Europe is increasing business in Japan. Sugar Market Covering Steadies Ej the Associated Press. NEW YORK, Nov. 15.—Covering by producing interests and com mission house buying steadied do mestic sugar futures in a thin market today. Offerings came mainly from refining accounts. Late afternoon prices ruled un changed to 1 point higher wtth March up at 1.92 and July un changed at 1.99. World futures met some commis sion house and foreign buying but there was also hedge selling and trade liquidation. Afternoon prices ranged 3 >/2 points lower to >/a higher with December down 3>/2 at 1.46 and September up >/a at 1.56. Refined sugar prices in eastern territory was reduced 10 points to day to 4.90 cents. Beet processors reduced their quotations to 4.70. Raw sugar was quiet with no sales reported. Cubas were available at about 1.80 cents, C. & F. and Philippines at about 3.20 cents for December arrival. United States Treasury Position By the Associated Press. The position of the Treasury November 13. compared with comparable date a year aco: , November 13.1939. November 13. 1938. Receipts______ *21.354.560 65 *18.463.534 20 Expenditures_____ 39.681.090.66 33,773.389 48 Net balance_ 2.280.932.983.84 2 577.071 384 29 Working balance included__ 1.579,518,965.50 1,805.782.909 71 Customs receipts for month__ 11.443.331.56 10.735.078 04 Receipts for fiscal vear (July 1)_ 2.015.951.947.22 2.073 977.650 52 Expenditures ------ 3.513.744.124 51 3.292.266.360 34 Excess of expenditures___ 1.497.792.177.29 1.218.288 709 82 Gross debt_____ 41,205.727.831.89 38.516.608.'247lO4 Increaee over previous day_ 13.106.205.33 ... Gold assets---—___— 17,192.183.654.16 14.101.895.887.58 t , ) ' Stocks Move Up Its Buying Trails (tt Snail's Pace Upward Trend Called 'Path of Least Resistance' Stock Averages .70 15 15 50 Indust. Rails. Util. Stks. Net change unc. +.1 unc. unc. Today, noon 73.1 215 39.7 51.6 Prev. day .. 73.1 21.4 39.7 51.6 Month ago. 75.6 23.2 39.4 53.3 Year ago .. 75.6 21.5 36.1 51.9 1939 high- 77.0 23.8 40.6 53.9 1939 low... 58.8 15.7 33.7 41.6 1938 high- 79.5 23.5 37.8 54.7 1938 low... 49.2 12.1 249 33.7 1932 low... 17.5 8.7 23.9 16.9 1929 high-146.9 1539 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. NEW YORK. Nov. 15.—Laggard stock.' followed the upward lead of business today, but buyers entered the market only in small groups. Gains of fractions to full points were spread all over the big board toward the fourth hour. The ad vances, however, were timid—and so were the traders. The ticker tape traveled at a snail like pace, and one analyst—typical of many in Wall Street—expressed the opinion: “The path of least resistance is likely to prove to be upward." The shares of capital goods indus tries led the creeping advance. Leaders in the rise included U. S. Steel, Bethlehem, Republic Steel, Chrysler, Goodrich. Anaconda, Al f’homiral TTnitoH Airrroft Eastern Air Lines. United Air Lines, Du Pont, Santa Fe and Southern Railway. | Curb prices moved upward sym pattietically and at a corresponding ly slow pace, with leading gainers ! including Newmont Mining, Sher win Williams, Quaker Oats, Singer Manufacturing. Minnesota Mining ; & Manufacturing, and Eorne Scrymser. j The end of the "political truce” * in Washington and the consequent outburst of theorizing as to whether f President Roosevelt intends to run for a third term was watched in- ’’ tently in Wall Street, but no one appeared certain as to whether the present apathy of the market bore much relationship to the domestic political scene. Chicago Grain By the Associated Press. CHICAGO, Nov. 15—Wheat prices moved very slowly today within a * range of •% cent in the lightest trade in some time. Prices opened steady, but dipped below the previous close. May fall ing as much as % cent to 85!* at times. Corn followed wheat. Similar conditions prevailed in other North American markets as i grain traders generally marked time. Wheat closed %-% down. Decem ber 87>8-87. May 853H-85%; corn | %-% down. December 49~8. May 52 51Ta; Oats unchanged to !8 lower. 1 Grain Futures. U’HEAT— Open. High. Low. Close. December.. .87% .87% ,R7 .ST',-87 May _ . .86 .86 .85% .85%-% July .84 .84 .83% .83’.-% CORN— December. _ .50% .50% .40’, 40% May .52% .52% .51% .52-51% • July .52% .53 .52% .52% OATS— December. _ .36% .36% .36% .36% May.. _ .35% .35% .34% .35 July .32% .32% .31% .32 SOY BEANS— December.. .98 .pa 971, 97'i May .99 .99', .98', .98', July _ ,96Vj .96‘2 .96 .96 RYE— December .53 .5.3 .52 52 May .54', 54', .53', .54',-3, July .54', .54', .53', .53’, LARD— December 6.32 6.32 6.39 6 39 January 6.42 6.42 6 49 640 March 6.85 6.87 6 85 6 85 May 7.00 7.02 7.00 7.00 < BELLIES— January . _ _ 7.00 Cash Market. CHICAGO. Nov. 15 .4V.—Cash wheat. ' sample grade red. 86: No. 2 mixed. 90'2. Corn. No. 2 mixed (mainly white). 59'2; No. 2 mixed. 50V,: No. 1 yellow. 49", 51',: No 2. 49'2-50*2: No 3. 48>,-50 No. 4. 48: No. 1 white. 60V«->2 Oats. No. 1 feed. 36V«, No. 2 white. 39>«: No 3. 373,-38. Soy beans. No. 2 yellow. PT'i-H: No. 3. ill1,-1,: No. 4. 94'2 Barley, malting. 55-61: nominal: feed. 33-43: nominal: No. 2. 56 Timothy seed, 3.90-4 15: nominal Red clover seed. 12.50-15.00: nominal. Red top. 8.50-9.00: nominal. Alsike. 14.00-17.00: nominal. Alfalfa. 17.50-22.50: nominal. Baltimore Wheat. BALTIMORE. Nov. 15 <.4V—Wheat No. 2 red winter, garlicky, spot, domestic. 97!4. New York Cotton By the Associated Press. NEW YORK, Nov. 15.—The cotton futures market turned somewhat easier in midafternoon, having sold off from morning highs on hedge and local selling plus some commis sion house liquidation. Support was limited to moderate trade buying. The list was up early on foreign support and spot house absorption, but gave ground shortly after mid day. Afternoon prices ranged 2 to 3 points lower, except January, which traded early at 9.52, up 3. Decem ber was down 2 at 9.58 and distant : ri/yfAKor time 0 Iaivow nf O A A At 2 p.m. cotton futures moved ; 8 lower to 3 higher. December, 9.55; January, 9.52; March, 9.37; May, ; 9.17; July, 8.91; October (new), 8.35. New Orleans Cotton. NEW ORLEANS. Nov, 15 iJP).—Cotton futures moved narrowly In quiet trading here today and at noon were net un changed to 3 points lower. High. Low. Last. Dec. -9.73 9.89 9.70 . Mar.- 9.55 9.49 9.49 May - 9.37 9.29 9.31 July --- 9.08 9.03 9.04 Oct. - 8.52 8.48 8.47 Libby-Owens-Ford Declares Dividend By the Associated Pres*. TOLEDO, Nov. 15.—Directors of Libbey-Owens-Ford Glass Co. yes terday declared a dividend of $1.25 a share on common stock, payable December 15 to holders of record November 30. Company paid 50 cents each in three preceding quarters. Auto Financing better Wholesale financing of automo biles in the first nine months of 1939 totaled $1,062,523,574, compared ! with $632,887,979 in the similar pe riod last year, the Census Bureau reports. Retail financing by 456 organiza tions in the nine months aggre gated $1,019,655,253, compared with * $752,627,326 In the corresponding part of 1938. ♦ f ■