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Warm Weather Cuts Gas Income in Year Ending on March 31 By Edward C. Stone Net Income of the Washington Gas Light Co. in the 12 months ending March 31 totaled $1,299,889. against $1,461,430 in the like period a year ago, according to an interim statement mailed to stockholders today. Operating revenues were lower. $14,299,977, compared with $14,331, 991. Operating revenue deductions 'were just under last year, $11,929. 868. compared with $11,930,957, leaving operating revenues of $2, 370,109 vs. $2,401,034. Gross income reached $2,377,982, compared with $2,389,367. Interest and other deductions called for $1,078,093. against $927,937 a year ago, the report showed. The drop of about $32,000 in op erating revenues was due to the warmer weather this year, the statement said. Plans for the change to straight natural gas were also outlined in the letter by Marcy L. Sperry, president. Banker Issues Loan Warning. Francis G. Add'son. jr., chairman of the ABA Federal Legislation Committee and president of the Security Savings & Commercial Bank, told the Mortgage Bankers' Association, in New York, that there must be a sharp line of debarkation between mutual mortgage insurance acturially determined to be sound and a gratuitous guarantee of mort gages by the Federal Government for “social objectives.” He declared that if Congress should ever decide that the latter is necessary—and it is now' pro posed in the Wagner-EUender-Taft bill—then this guaranty must be recognized as a Government obliga tion "but has no place in any mutual insurance system based upon actu arial charges.” Jones Announces New Contact. Robert C. Jones, senior partner in the investment banking firm bearing his name, announced today that his firm now has a direct pri vate wire to Francis I. Du Pont & Co., No. 1 Wall Street. New York, members of the New York Stock, Curb and other leading Exchanges. The firm has 10 offices in New York and branches in seven other cities, including London. M. F. Calnan. president of the Liberty National Bank, is taking a week's vacation at Atlantic City. Paul B Dunbar. Federal Food and Drug Administration commissioner, will address the Proprietary Asso ciation of America on May 15 in New York. Other speakers include T. W. Delehanty. Commerce De partment. and Dh E. L. Griffin, Agriculture. Mergenthaler at New Peak. Mergenthaler Linotype sold on the Washington Stock Exchange today at 79. a new 1946 high marK. It sold in Boston Monday at 797a, a jump of almost four points. Carpel Corp. sold here today at 51, another new high for the year. Arthur P. Lait. general passenger agent of the Canadian National Railways in Washington, has been promoted to general Eastern passen ger agent at New York, being suc ceeded here by C. V. Howick of Buffalo. There were 65 new highs and 10 lows on the New York Stock Ex change j-esterday. I Business Briefs | Commercial, industrial and agri cultural loans decreased $41,000,000 at member banks in 101 leading cities during the week ended April 24, the Federal Reserve Board re ported. Total loans decreased 333,000,000. Electric output 'for week ended April 27 was 3.976.750,000 kilowatt hours, a decline of 10,395.000 kilo watt hours, or 9.6 per cent from the previous week's 3,987,145.000, and a decrease of 439,139.000. or 9.9 per cent from the like week a year ago. Steel Ingot Output was down 5% points this week to 68.5 per cent of rated capacity—Iron Age. Pacific Lighting Corp. reported annual net income of $7,721,461. equal to $4.18. compared with $5, 705.843. or $2.93 in 1945. Pittsburgh Glass Co. had quar terly net of $3,330,825, equal to 37 cents a share, compared with $3,416,894. or 39 cents in 1945. Chas. Pfizer & Co., chemical man ufacturers, reported quarterly net of $2,857,788, equal to $1.94. against $553,352, or 37 cents in the first quarter of 1945. Jones & Laughlin Steel Corp.’s quarterly net was $813,246, equal to 13 cents, against $2,013,489. or 80 cents in the like 1945 period. Curtis Publishing Co.'s net quar terly profit was $647,809, equal to 93 cents on the prior preferred stock. This compared with $1,036, 389, or $1.50 on the prior preferred shares and $10.73 on the $7 preferred shares Yale & Towne Manufacturing Co. reported for the quarter ended March 31 a net loss of $742,771, compared with a profit of $287,280 in the first quarter of 1945. Marshall Field & Co. reported quarterly net of $3,209,633. equal to $1.57 a share, against net of $1,336, 275, or 61 cents, in the 1945 quarter. Standard Oil Co. (N. J.) declared regular semiannual cash dividend of 50 cents per share and an extra cash, dividend of $1 per share pay able *n June 12. 1946. to stockhold ers of record at close of business May'15. Studebaker Corp. reported quar terly net loss of $129,760 compared with a net profit for the quarterly 1945 of $1,02^.323, equal to 43 cents a share. Standard Oil of California's quar terly net was $14,530,519. or $1.12 a share, against $14,477,052 or $1.11 last year Adam Hat Stores' 1945 income was $518,175. compared with $323,518 in 1944. Earnings equaled $1.24 a share, against 77 cents a share in 1944. First Boston Corp. and associates offered a new issue of ,$32,000,000 Utah Power & Light Co., first mort gage 2% per cent bonds at 101%. Proceeds will be used to retire out standing 334s. Empire Gas & Fuel Co., a Cities Service Co. subsidiary, will call for redemption on May 31 of all of its $18,211,400 outstanding 3% per cent debentures due in 1962. Harriman Ripley & Co., Inc., of New York, and Alexander Brown & Sons, Baltimore, were awarded a $44,660,000 issue of 35-year first re funding mortgage sinking fund bonds offered by Consolidated Gas. Electric Light & Power Co. of Balti more. Scott Paper Co.'s net was $410,564 for the first quarter, equal to 51 cents a share, compared with $315, 493, or 47 cents, in 1945. Rock Island Lines reported net operating income quarterly of $4, 025,856 compared with $7,211,630 for same period in 1945. 1 N. Y. STOCK EXCHANGE (Fnm'shed by the AuoelatH Frets.) | 8tle?— Stork and Add Net Dividend Rate. on. High. Low. Close, chge. ABBOTT LAB 12 73 72 73 +1 TAbbott Lb pf 4 . 1 111% 111% 111% A C F-Brll] Mot 4 15% 15% 15% Adams Exp 65g 27 227b 22% 22% - % Addressograph ] 1 34% 34% 34% + % Admiral Cp V,e 3 lflTb 15% 157b + % AlrReduotlon la 7 55 53% 53%—1% Aldens Inc 60a. 1 40% 40% 40% -1% Alaska Juneau 4 87b 8% S*b — % Alleghany Corn 57 6% 6% • 6% + % Alleghany Cp pf 7 61% 61 61% -% Alleghany pr pf 4 72% 72 72% - 7b Alleg LudlumS 3 7 47% 47% 47% - % Allied ChADy 6. 5 201% 200 200 -1 Allied Kid lb... 5 26% 26 26 - % Allied Mills 2g _. 7 34% 34 34% Allied 8tra 1.60 36 62 587b 60 Allls-ChMlal.60 34 54 52% 527b-2% Alpha Pt Cem 1. 2 38% 38% 38% Amalg Leather.. 7 11% 11% 11% — % Am Agr C 1.20a 1 45% 45% 45% - % Am Airlines new 102 18% 18*+ 18% — % Am Bank Nt lw. 3 41% 41% 41% + % Am Bosch >/,e _ 6 23% 23 23 -1 Am Brake Sh 1. 3 62 61% 61% - % •Am Br S of 6V« 10 130 130 130 -1 Am CableARad 10 14 137b 137b — % Am Can 3 7 96% 95% 96 — % Am Car AFd 3g 5 67% 66% 66% - % Am ChatnAC 2 8 37 35% 35%-1% tAm ChAC pf S 10139 139 139 -5 'Am Chicle 4a 120 158 157 157%+% Am Crystal Sue. 3 28 78 28 tAm CrytS pf 8 10 105 105 105 + % Am Distillers 2a 8 68% 66 66 -3% Am Encaustic _ 3 9% 9% 9% — % Am Export L 2 24 61% 59% 61 +1% Am A Pm Pirr 10 11 10% 11 Am&F P f fipf.'ik 1115 115 115 AmAFPTpf 3Vak 3 127% 126 126 -1% AmFP 2nd of 7 39 39 39 Am Hawaii S3 3 50 49% 49% - % Am HtdeALeath 9 10% 10% 10% - % AmHomeP2.40a 4 128% 127% 127% - % Am Ice _ 3 16% 157b 16% + % Am Intemat.45g 6 15% 15 15 -% Am Invest .60 . 3 13% 13% 13% - % ♦Am Inv pf 2%. 30 51 51 51 -1 Am Locoml 40a 35 37% 37 37 - % Am MchAFd 80 15 39 38 39 +1 Am MchAMet 1 6 22% 22% 22% - % Am Metal 1_ 3 37% 37% 37% + % Am Power A Lt 87 1B% 18% 18% - % AmPALSOpfl %k 4 124% 123% 124% + % AmPALSSpfl’/ik 3 114 113% 114 -1 Am RldASn 40 72 20% 19% 19% - % Am RoilMilPbe. 23 32% 31% 32%-% 'Am RM pf 4% 290 104 103% 103%-J% Am Safety R* 2 2 57% 57 57% +1% Am SmeltAR 2a 12 69 68% 69 + % 'Am SmAR pf 7 110 187% 186% 186% - % Am Snuff 2 4 44% 44% 44% - % Am Stl Found 2 4 44% 44% 44% - % Am Stores 1 .. 3 36% 36 36 - % Am Stove 1.20 . 8 33 32% 32%-% Am Tel A Telfl. 13 194% 193% 193% + % Am Tobacco 3a. 10 96% 96 96%+1 Am Tobac B 3a . 11 97% 97% 97% + >4 'AmTobpre 30 166 166 166 -% AmTypeFdrs tie 4 26% 26 76% - % Am Viscose 2 10 71% 70% 70% - % Am Water Wks 18 26% 25% 2*%+% Am Woolen . 61 54% 52% 52%-2% Am Wool pf 5k. 23 159 155% 158%+3% Am Zinc lOg 7 127b 12% 12% AmZincnrpf6. 1 88 88 88 +1 Anaconda 2% . 18 48 47% 47% - % AnchorH GI.30e 19 58 55% 58 +2% 'Anchor Hk pf4 10 112% 112% 112% - 7b Anderson Cl 60 4 55% 54% 55% +1% Andes Copper 2 19% 19 19 —1 A P W Products 1 9% 9% 9% + % Archer-Danl 80 5 32% 32 32%-% Armour A Co . 90 15% 15% 15% - % Armour pr 6%k 2 131 130% 130%— % 'Armour pf . 1 152 150 152 +2% ArmstrongCk 1 a 7 62% 62 62% - % Artloom Cd 40 4 27V. 27 27 Assd Dry G ,05e 17 71% 70% 71% + % 'Asso DG 1st 6 160 149% 149% 149% 'Asso DG 2nd 7 30 142% 142% 142% +1% Atch T A S F 8 . 26 110 1087-4 110 +% Atch TASF pf.5 1 117% 117% 117% -1 Atl Coast Line 4 3 74 72% 74 +2 Atl Refining 1% 27 46% 46 46%-% tAtl Reflng pf 4 150 123 123 123 Atlas Corp % 6 31% 31% 31% tAtlas Powd «Se 3 86% 85% 86%+1% 'Atlas Pwd pf 6 80 129% 126% 126% -3% Austin Nichols 13 187b 18 ie% - % Autocar Co 2f 7 33% 33 33 + % Aviation CP .lOe 35 107b 10% 10% - % BALD LOCO l'/a 54 34% 33% 33%-% Balt A Ohio . 57 23% 22% 23% + % Balto A Ohio pf 10 36% 36% 36% - % BangorAArostk. 6 23% 23 23 — % Barber Asphlt 1 7 38 37% 37%+ % Barker Bros 11 35% 35 35%+ % Barnsdall 011 80 19 30% 29% 30 + % Bath Iron Wk 4 5 29% 29 29 - % Bayuk Cigar 'At 2 57 567b 57 + % Beatrice C 1 40b 1 64% 64% 64% 'Beck Sh pf 4%. 60 107% 10%6 107% + % BeechAlrcrft lg 5 29 28% 287b - % tBeech-Nut 4a 2 133 133 133 +2 Belding Hm 80 16 25% 24% 25% + % Bell Aircraft 1 e 2 29% 29 29 - % 'BellAHw prf4% 30 109 109 109 -1 BendixAviat 'At 14 49% 48% 48% - % Beneficial 120a 2 337b 33% 33% Best Foods 1 __ 4 28% 27% 27% - % Beth Steel 8 7 105% 105% 105% - % Blaw-Knox 60a 11 26% 26% 26% - % Boeing Alrple 13 29% 28% 28% - % Bond store 1 40 7 43% 43 43 - % Borden Co 1 e 8 56% 55% 56% + % Borg-Warn 1 60 7 53% 527b 53 Boston A Me 4 8% 8% 8% - % Brantff Air 00 10 25% 25 25 - '/« Brldgept Brs 60 9 17% 17% 17 %- % Briggs Manufg 2 4 50% 50% 50% + % Briggs & Strat n 9 37% 35% 31 +1 Brlstol-Myr.35e 30 70 64% 66%+1 BklynUGas 1 60 3 37% 37% 37%-% Brunswk-Balk 1 2 37% 37 37 - % Bucyrus-E 15e 3 22% 22% 22% - % tBucyrus pf 7. _ 10 126% 126% 126% Budd Manfg V«g 76 20% 19% 197b - % 'Budd Mfg pf 6 90 97% 967b 987b - % BuddWheel .60a 14 21% 21% 21%- % Buff Forg 1 80 2 36% 36%, 36% Buf Ng E pf.1.60 2 106 105% 106 + % Bullard Co 2 1 43% 43% 43% - % Buleva Wtchl % 1 46% 46% 46% + % Burl Mills 1.40 10 43 42% 42% - 7b Burr Ad MchV,e 16 18% 18% 18% - % Bush Term 35e 1 12 12 12 - % Butler Bros 65e 31 3274 32 32% + % Butte CdAZ V«e 2 77b 7% 77b 'Byers A U pf 7 20 107 106% 107 + % CAL PACK 1 Mi 1 45Vi 45% 45% - % I tCall! Pk pf 2Vi' 10 55% 55% 55%-% Callahan Zinp' 32 5% 5 5% Calumet&H 05e 22 10% 10 10 - % Campbell WyVie 6 39% 39 39 - Vi An Dry G A 1 5 46 45 45 - % Canadn Pac Vie 52 19% 19% 19% - % Cap Adm A ,40g 5 19% 19 19 - % Carrier Corp 5 28% 28% 28% - % CarrierAGn.20a 7 10% 10 10% + % Case J I Co 1.20 1« 46% 46% 46%+ % 'Case J I pf 7 _ 20 178 178 178 -1 Caterplllr Tr 3 3 77% 76% 76%-1% Celanese Corp 2 11 74% 74 74% Celotex Corp % 10 29% 28% 29 + % tCelotex Co Pf 1 1 21% 21% 21% Cent Aguire 1% 12 26% 25% 25%-% Cent Foundry 16 16 15% 15% — % CenHGAEVie 23 11% 11% 11%-% Cent R P N J • 2 16 15% 15% - % Cent Violet 2 Vi* 4 41 40% 41 + % Cerro de Pas le. 6 49% 48% 48% - % Certaln-teed 24 23% 22% 22% - % Champ PAP la. 2 61 60% 60%-2% Champ P pf4%. 10 112 112 112 -% Checker Cab _ 3 30% 30 30 - % ChesAOhloSb 19 59% 59% 59% - % Chi A East 111 4 12% 12% 12% - % Chi A E 111 Ale 2 21 20% 21 +% Chi Great Westb 2 12% 12% 12% - % Chi Gt Ws Pl%k 5 26 25% 25% - % Ch] Mil St PAP 42 28 27* 28 + % ChiMSPAP Pf5e 9 69% 68% 69%+ % Chi A N W 3g 10 37 36% 37 - % ChlANlV Df 1 Vie 11 66% 66% 66% Chi Pneu Tool.. 1 31 31 31 - % Cblckasha 1. . 1.21% 21% ji%+% Childs Co • 11 10% 10% 10% - % Chrysler Corp 3 7 129% 128% 128% + % C IT Finance 2 18 55% 54% 55 Cln Mill M .OSe 3 34% 33% 33% - % City IceAF 1.60 6 36% 35% 36% - 1/4 •City Investors 30 95% 95% 95% + % City Stores .80 12 33% 33% 33% - % Clark Eauinmt 3 2 67% 66% 67% +3% tciev Graph pf5 10 108 108 108 Climax Mol 1.20 12 35% 37% 35% Cluett-Peoody 2 2 56% 56% 56% Colgate Pm-P la 9 53% 53% 53%+ % tColg-P-P pf 8Vi 40 104 104 104 Collins A Aik la 7 53 52% 52%-1% Col FuelAlr .1 Be 62 17% 17 17%+% Colo F Air of 1 11 20% 20 Vi 20%-% •Colo A South 20 28% 28% 28% + % tColoirSo let pf 60 26 25% 26 — % Col Brdcet A.40e 6 42% 42 42% + % ColGasAEl lOe 81 12% 12% 12% - % Colum GAE Pf6 3 110% 110 110% + */e Col Pictures 1 31% 31% 31%-% ColumPict pf4Vi 1 10U* 101% 101%+ s* Colm Carbl 40a 4 43% 43% 43%+ % Cornel Credit 2 9 56 54% 55% tComl Cr pf.7,60 430 119% 118% 118% - V. ComelSolvn.601 32 25% 24% 24% — •/» Comwl Edls 1.40 35 36 35% 36 + % Comwl A South 329 4% 4% 4% + % CmwlASpf3 Vik 7 127 126% 1265/a - % Congolumn-N la 4 37% 36s* 37% + % Cons Cigar 2 _. 2 52% 52 52% + Vi Cont CoDDer.20g 15 9% 9 9 — % Cons Edim 1 6Q 55 35% 35% 35% Cons Edlsn Df 6 2 108% 108% 108% - % Cons Laundry 1 1 21 21 21 Cons Nat tiasla 5 52 51% 51%+ % Cons RRCnoa of 1 38% 38% 38% Cons Vultee 2 32 26% 25% 25S%-% tConsumP pf4Vi 110 113 112% 113 +% Container 80e 4 52% 52 52 — % Cont Baking Vie 34 17% 17% 17% Cont Can 1 18 47% 46% 46% -1 Cont DiamF.40 9 15% 15% 15%+ % Cont lnsurnce 2 4 57s* 57 57% + % Cont Mot ,35e . 16 18% 18% 18% - % Cont Oil Dll 60 14 47% 46% 47%+% Cont Steel 20e- 1 20% 20% 20%-% Cooper-Bess 1 26% 26% 26% Copperw Stl.80 6 20 20 20 — % tcorn Exe 2 40 70 62% 61% 61% Corn Prod 2 60 19 62»/i 62% 62% - % tcorn Prod pf 7 110 202 202 202 CornellD El 80 3 23% 22% 23%+ % Corning Gls V.e 12 35% 35% 35% + % Coty Inc ,20e 22 14 13% 13%-% Cotv Internatl 10 6% 6% 6% — % Crane Cota 14 46% 45% 45% — J* Crm of Wh.l 60 3 32% 32 32 - % Crown Cork *ie 3 51% 51 51 — % Crown Ck$2pf2 2 54% 54 54% +1 Crown Zeller 1 2 37% 37% 37% tCrown Z pf4 20 50 108% 108% 108% + % Crucible Stl 2g 3 46% 46 46 - % ♦Cuba R R of 80 39 38% 39 Cuban-ASug Vae 5 26% 25»/i 23% - % Cudahy Pk 1 20 4 55% 54 54 -1% Cuneo Prass lVi 18 55 54% 55 +3 Cunning Dr Vie. 2 65 63% 63% - % Curtis Publish 69 23% 22% 22% - % tCurtis Pub Pf.. 30 144 142% X44 +2% Curtla-Wrt Vk*_ 36 7% 7% 7%- % t* Bale!— Stock and Add Net Dividend Rate. on. High. Low. Close, chge. Curt-Wnght A 19 21% 21% 21%-% Cutler-Him 30c 6 42% 41% 41% - % DAVEGA 30e._ 1 27% 27% 27% - % Davison Chem 1 3 25% 25% 25% + % Dayton Rub.4Oe 6 34 33% 33% - % Decca Rec 1 20a 4 75% 74% 74% + % Deere A Co 1 %* 10 51% 50% 51% + % Deisel-W-Gl Via 1 39% 39% 39%+ % Del A Hudson 4 7 46% 45% 46% +1 Del Lack A Wn 19 12% 12% 12% - % Det Edison 1 20 3 28 27% 28 DevoeARayA.80 2 #8 38 38 + % Diam Match 1 % 3 43% 42% 42% -1 Diam Mch ofl% 1 47 47 47 -1 Diam T Mot la 2 30% 30 30 + % Dist-C 8* h2.22 40 101 96% 101 +1% Dixie Cuo V4e._ 3 51 50% 51 - % ♦DixleC 0fA2%. 30 58 57% 58 +2 Doehler-Jarva 1 5 30% 30% 30% - % Dome Min hi .20 8 24% 24% 24% - % Douglas Aire Be * 87 86% 86% -1 Dow Chemical 3 1 180% 180% 180% - % Dresser Ind . _ 4 26% 26% 26% Duplan CP 30e 1 36 36 36 DuPont de N 6V« 6 210% 208% 210 ♦Duqucs L lpf S 20 114% 114% 114% EAGLE-PIC. 20e 14 25% 25% 75% + % Eastern Air L 1 6 129 126% 127% -2% East Stat Stl Vie 5 50% 49% 50% +2% EastmanKdk Ba 2 253 253 253 -6 ♦Eastmn K pf 6 30 206 206 206 -2 Eaton Manufg 8 3 63% 63 63 - % Ekco Prod BOe 46 52 47% 50% +2% tEkco Pr pi 4V» 50 110% 110% 110% - % Elastic Stop Nut 3 12 11% 12 + % El Auto-Lite 3 . 3 75% 75 75%+% El Boat la 8 31% 31 31%+ % El A M lnd .ORe 17 6% 6 6% EJ Power A Lt 33 28% 27% 28 El PALS7pfl V4k 1171 171 171 + % El Storage B 2 1 53% 53% 53% + % SI Paso NG 2.40 4 58% 58 58 - % Emerson El M . 2 23 22% 22% - % Emrsn RAP BOa 17 33% 32% 32%+ % Engineer Pub 8 10 40 39% 39% - % tEng PS pi 6.. 110 105VML05 105 -% Ealilt Office B*_ 4 3% 3% 3% + % Erie R R 1 _ 27 17 16% 16% — % Erie R R pi A 8 . 3 77% 77% 77% + % Eureka Will Vie. 6 17% 17% 17% - % Eversharp _ 13 53% 52 53 FAIRBANKS la 4 73% 72 72 -2% Farnsworth _ 7 15% 15 15 - % FedLtATrac Vie 7 13% 23 23 - % tFed LtATr pf 6 20 110 109% 109% -1 Fed MnxASm 3 _ 1 50 50 50 + % Fed Mogl 1.20a. 9 34% 33% 34%+1% Fed Mot Tr ,40a 10 18% 18% 18% Federat D S 1 % 8 74% 73% 74 -1 tPed D 8 Pt 4% 120 106% 105% 105% -1% Ferro Enamel 1. 1 29% 29% 29% — % Fid Phoenx P 2a 6 63 62 63 +1% Firestone TR 2a 6 77% 77 77% + % First Nat Str2% 3 64% 64 64%+1 Plintkote .IBe . 18 45% 44% 44% - % Florida Pw jJOa. 15 19% 19 19 - % Foliansbee Stl 1 17% 17% 17% - % tPollansbee 8 Dl 310 105 99 103% +5% Food Fair 8tr 1 < 67 65% 65% -1% Francisco Sugar 4 29% 29% 29% - % tPrankln Sm pf _ 20 163 161 163 +5 FreeportSul 2% 4 58% 57% 57% FruehaufTra tie 2 43 43 43 — % GABRIEL ,10e. 7 12% 12% 12%-% GAIRROB.30*. 13 10 9% 10 - % Gameweil Co 1 .. 2 24 23% 23% + % Gardner-Den 1. 2 25% 25% 25%-% Gar Wood Ind _ 91 15% 15% 15% Gar Wood pf 2 Vi 17 61% 60% 61% + % Gaylord Cont 1. 5 57% 57 57% + % GenAmlnvS 06* 12 19 18% 18% — % Gen A Trna 2%. 2 68% 68% 681/4 - % Gen Bakine BO. 4 13% 12% 12%- % tGen Bkg pf 8 . 40 200 200 200 Gen Bronze.80.. 6 25 25 25 — % Gen Cable _ 25 15% 13% 15%+1% Gen Cable A 20 54% 50% 54% +4% tGen Cbi Pf3‘ak 40 154 154 154 -1 Gen Elec 1.60 55 46% 45% 46% - % Gen Foodsl.BOa 8 54 53% 53% - % Gen Motor! 3 44 74 73% 73% - % Gen Motor pf 5. 1 128% 128 128 — % Gen Out Avt 1 ae 9 28% 27% 27% — % Gen Public Dtil 49 21% 21% 21%- % Gen Ry Slg 1 Vie 3 43% 43% 43% -1 Gen Refract 206 7 32% 32% 32% - % Gen Shoe BOe 13 39 39 39 tGenStl CpflVik 90 121 119% 120% + % Gen lelpnnl .60 8 44% 43% 43% - % Gen Tire A R 1 . 7 51% 51% 51% - % Gillette Saf R 2. 16 39% 38% 38% - % Glllett SfRz pfB 1 106% 106% 105% + % GimbelBros.BOe 43 65% 64% 65% +1% Glidden Co 80e 5 47% 47% 47% Goebel Brew 20 10 6% 6% 6% + % Goodrich BP Via 11 63% 82 82% - % Goodyear 1 Vie.. 4 74% 74% 74%-1 Goth Hoelery 1. 3 37% 37% 37% - % Graham-Palge . 28 10% 10% 10%+ % Granby ConsM 1 10 10 10 — % Granite City Stl 1 21% 21% 21%- % Grant W T 40e 8 39 38% 39 + % Gt No 1 O ctl Vat 2 18% 38% 18% - % Gt Nor Ry Pf 3 25 59% 58% 59% + % Gt Wst Su* 1.20 7 31 30% 30% - % Greyhound 1.40 58 45 42% 43%+1% Grutnan Alrl %e 15 44% 43 43 - % Guantanamos* 4 11% 11% 11% — % 'GuantanSolB 90 96 96 96 Gull MoblleAOb 5 23% 23% 23% + % Gulf Oil la14 76% 76 76 - % HALL PRINT la 4 38% 38% 38% + % ♦HamlltonW Pfl270 113 113 113 Harb-Walker 1 11 28% 28 28 Hart8hAM 1.60 7 54% 54 54% + % Hayeslndust %g 7 18% 18% 18% - % Hayes Manuf*,. 15 12% 12% 12%-% Hecht Co 1.20 4 44% 43% 44% +1% ♦Hecht Co of3Vi 30 107 107 107 tHelme pf 7.. 80 185 185 185 -4 Hercules Powder 2 65% 65 65 — % tHercules P pf 6 20 139% 139 139% +2% Hewitt Rubber 1 3 37 37 37 - % Hinde A Dau le 3 38% 38% 38% - % Holland Fum 2. 4 71% 71 71%-3% HollanderASn 1 4 29% 29% 29% —1% Holly Sugar l._ 14 33% 33% 33% Homestake MV«* 6 49% 48 48 -1% Houd-Hershey . 4 23% 23% 23% - % Houd-Her pf2V4 6 61 60% 61 Househld F 1 40 4 31% 31% 31% tHousehld of3Vi 10 106% 106% 106% -1% HoUStOD Oil 11 27% 27% 27%+ %! Hudson AM of. 2 20% 20 20 —1 Hudson Bay h2 5 42 42 42 - % Hudson Mot 40 9 29% 29 29% Hupp Motors7 8% 8% 8% IDAHO PR 1 60 2 43% 43% 43% — % IllCentrsl ... 33 37% 37 37% +1% 111 Central of 1 72% 72% 72% +1% 111 Terminal RR 48 11% 11% 11% Indols P-L 1.20 15 31% 31 31%+ % Indpls PAL rts 553 Vi4 yj, Vi» + 1%, Inland Steel le. 3 126% 125% 126% +1% Insolr Copoer 1. 10 20% 20% 20% tlntercm of 4% 90 109 109 109 tntercn Rub .36* 11 11% 11% 11% Interlake Ir Vi* 25 16% 16% 16% - % tnt Bus Mch Bb 1 230% 230% 230% +2% Int Harvs 2.60a 6 94% 93% 94% - % tint Harva of 7_ 80 200 199% 200 + % tnt Hydro El A 15 14% 14% 14% - % Int MlnAChm 1 20 33% 33 33% +1% Int Nickel 1 60 46 37% 37% 37%-% tint Nickel of 7. 30 139 139 139 +1 Int Paper 2 .. 29 49% 49% 49% + % Int Paper pf B 2 124% 124% 124% -1% tint RCA pf3Vik 70120 119 119 -1 Int Shoe 1.80... 4 47 46% 46% — % Int Tel A Tel . 37 25% 24% 24% - % Intern D S 1.40 3 46 45% 46 +1 JACOBS .20*... 4 18% 18% 18%+ % Jewel Tea 70e. 1 52% 52% 52% + % Johns-Manv Vie 2 157% 157% 157% -1% Johnaon A J 20 6 60 59% 60 tJohnsonAJ pf4 30110 110 110 + % Jones A L 8tl 2 38 43% 43 43% - % Jones A L of A 5 3 106 106 106 JonesALpfBB. 5 130% 129 130 —1% Joy Manuf* 80a 1 33 33 33 KALAMAZ .80a 2 35% 35% 35% + % Kan City 8outh 77 29 27% 29 +2% Kan City S pf2e 3 63 63 63 Kaufm Dept.SOe 5 50% 50% 50% + % Kayser J 20e 3 73 22% 22% Kelsey-H Wh B. 6 23 22% 223% _ 1% Kennecott C Vie 19 59% 59 59 —1 Kiney SB of 6 40 99 98% 99 +1 Kopoers Col .60 5 42% 413* 413% _ 1% Kresge S S 70e. 7 45 43% 43J%-1% Kresge D 8 Vie.. 1 25% 25% 25%+ % Kress 8 H 1.60.. 2 58% 58% 58%-13% Kroger Co 2 . %. 7 60 58% 60 +1% LACLEDE G.l Be SO 7% 7% 7% 4- % Lambert Co 2 IS 60% 59 60% + % Lane Bryant la. 3 57% 57 57 — % Lehigh C to N 1 24 16% 16 16 - % Leh Port C 1'/a- 22 50% 49% 50% + % Leh Valley Coal 26 4% 4% 4% LehVal Coal lpf 2 36% 36 36 — % LehVal Coal 2pf 4 12% 12% 12% — % Leh Valley RR 8 12% 12% 12% _ % LehmnCpl.20a 6 59% 59 59 — % Lehn to P 1.40 . 1 28% 28% 28% - % Lerner Strs 1Vi. 9 41 40% 40% + % Lib-o-P Glass 1 4 67% 66% 67% + % Lib McN&L 60e 23 13% 13% 13% Life Severs Vie. 3 34% 34% 34%-r % Liggett&M B:ia. 4 97% 97 97% ‘ Lily Tulip 1 Vi _ 4 65% 65 65% + % Lion Oil la .. 11 13 32% 33 + % Liouid Carbonic 7 36% 35% 36 — % Lockheed Alrc 2 25 32% 31% 32 - % Loew's Inc lVia 21 39% 38% 39 LoneStarCemHe 10 88% 85 - 88 4-4 Long-Bell L.12k 2 30% 30 30% — % Lorillard PI 23 30 29% 29% Lowenstein to S. 35 36 33% 36 4-2% Loulsell&N 3.62 3 66% 66 66 4- % Lukens Stl 3S« 4 23 22% 23 — $4 M’ANDdiFl.lOe 4 42 41% 41%-1 Mack Trucks 3g 5 70% 70% 70%+ % MacrRH 1.60 11 36 55% 55%-% Magma Coot %_ 10 29 28% 28% + % Manat) Sag V«g. 2 15 15 15 + % Maracaibo 07c. 4 5% 5% 5% Maracaibo Oil r. 13 % % % — % Marine Mia 15e 20 9% 9% 9% ♦Mark St Ry or 10 15% 15% 15% + % Marsh Fid l.20a 3 54% 54% 54% — '% Martin Glenn 8. 6 38% 38% 38% - % Martln-Pary.SO 3 24% 24% 24% - % Masonite l _ 1 71% 71% 71% —l Master Rl 1.40 2 41 41 41 + % May Dept Strs 2 7 67 66 67 +1 Maytag Co . 5 14 13% 14 + % McCall Corp 2a 6 68% 67% 67% - % McCrory Strs 1 a 5 41% 41 41%+ % McOraw Elec la 2 39 38% 39 McKess&R 1 80 2 51% 51% 51% - 1% McLellnStrs.80a 3 32 31% 32 Mead Coro 20e 5 28% 28 28 — % f MeadcfB w w5 % 10 107% 107% 107% + % Mengel Co 40a 23 32% 30% 31 -1% 'Mengel 5 pf2V4 70 94 92 92 -6 Mesta Mch 2% 4 60 60 60 + % 'Met Ed pf 3.90 10 108% 108% 108% -1 Miami Cop V4e 4 17% 16% 16% - % Mid-ContPet Vie 8 41% 40 41% + % Midland StlP 2 2 55% 55% 55% +1% 'Mldln Stl 1st 8 20 161% 161% 161% +1% Mlnn-Honwl la. 7 67 66% 66% -1% Minn Moline... 8 15% 15% 15% MinnMtL Ry 4. 1 73 73 73 -1 1 « Sales— Stock and Add Net Dividend Rate. 00 High. tow. Close, ehge. MStPftSS A2%S 2 19% 19% 19% Minn MftM 80. 1 40% 40% 40% Mission CD 1 V4g. 2 40% 40% 40% Mo-Kan-Texss 7 14% 13% 13% - % Mo-Kan-Tex nf. IS 44% 43% 44% - % Mohawk Csrn 2. 2 67 66% 67 Moiud Hos V4e 1 45% 45% 45% + % Monsanto Ch 2a 6 162% 162% 162% + % ♦Monsanto ofC4 50 106% 106% 106% Montgm Ward 2 15 98% 9B 98% + % Moore McLin 1 12 27% 27 27 - % Motor Prod it 1 29% 29% 29% Motor Whl 1.20 1 31% 31% 31%-% Mueller Br 1.BO 5 61 60 61 +1 Mullins Mrs %g 9 17 16% 16% - % Munslngwesr n 3 27 26% 26% ♦Murphy pt 4% 10 112% 112% 112% Murray Corp 4 17% 17% 17%+ % MurrayCorp pt'.’ 2 51 50% 50%-l% NA8H-KELV % 13 21% 21% 21%-% ♦ Nash Ch&SLle 30 45 44% 45 + % Nat Acme 2 ___ 7 38% 37% 37% - % Nat Airlines . 13 25% 25 25 - % Nat Auto F 30e 14 19% 19% 19% Nat Avlatn 2%s 3 23% 23 23 -1 Nat Biscuit 1.20 48 37% 36% 37 + % Nat Can _ 2 18% 18% 18% ' Nat Cash Reg la 8 39 38% 39 + % Nat Contalnr lb 4 33% 33 33 - % Nat Cyl Gas 80. 8 22 21% 21% Nat Dairy 1.40 1 44% 44% 44% + % Nat Dept Stria 3 54 54 54 Nat Distillers 3 81 75 73% 74% -1% Nat Enamel Vie 1 52 52 52 —1 Nat Gypsum Vie 18 30 29% 29% - % ♦Nat Gyp pr 4% 10 106 106 106 - % Nat Lead %a 13 38% 37% 38% + % Nat Linen Svc 1 4 30 30 30 - % NatMal&StlCast 5 33% 33 33% + % Nat Oil Pro ,30e 6 68% 67 68 +1 Nat Power ft Lt 126 11% 11% 11%+ % Nat steel 3_ 5 88% 88 88 - % Nat Supply 25 23% 23 23% NatSup Si! p!3k 2 29 28% 28% - % Nat Tea .80. 6 38% 38% 38% + % Nat Vulc Fi 40e 3 19% 19% 19% - % Nehi Corp % 4 28% 28% 28% - % tNportlnd pr4V4 70 105% 105% 105% Nwpt N ShPBdlia 4 29% 29 29% + % NY Air Brake 2 1 60% 60% 60%+ % NY Cent RR 1* 95 26% 26% 26% NYChl&StLpl4k 2 124% 124 124 +% NYC Omnibus 3 9 33% 32% 33% + % N Y Dock _ 2 38% 38 38% +1% NY Shipbldg »4e 3 21% 21% 21%-% ♦NorlftWstnlOa 220 284% 282% 284% +2% No Am Avlat lx 15 13% 13% 13% No Am Co 1,3Sr 20 36% 36% 36% - % North Psclflc is 35 31 30% 31 + % Northwst AirVig 8 46 45% 46 -1 ♦Northwn Tel 3. 1 49% 49 49%+ % Norwalk TR '/4e. 1 17% 17% 17% + % Norwich Ph BO 1 22% 22% 22% + % OHIO OIL Via.. 73 77 26% 27 + % Oliver Coro It-- 11 31% 31 ' 31 - % Omnibus Corp 1. 19 16 15% 15% - % 'Omnibus pi 8 . 10 118% 118% 118% + % Otis Elevat .4Oe 9 36% 36% 36% - % Outbd MAM ’ie 1 31 31 31 - % Owens-Ill G1 "e 12 95 94% 95 + % i-—. ... PAC A FISH le_ 2 17% 17 17% + % 'Pac Coast 2 pf _ 20 43% 43% 43% - % Pac Gas A *12- 17 45% 45% 45%+ % Pac Lighting 3 3 63 62% 63 + % Pac Mills newlie- 6 45% 44% 44%-2% tPac TelAT pf 6 60 179 179 179 +1 Pac Tin cons 13 9% 8% 8% - % Pac West Oil Vie 1 32% 32% 32% + % Packard M. 16s. 95 9% 9% 9% - % Pan Am Air Vie. 34 20% 20% 20% - % Pan Am Pet.40e. 2 19% 19% 19% + % PanbanEPL 2%. 11 55% 54% 54%-1 Panh PAR .20s: _ 56 13% 12% 12% - *% Paraffine CpX 4. 10 110 110 110 +1% ParamountPlc 2 24 79% 78% 79% + % ParkATUford 3- 3 79 78 78 -2 Park Utah ,10e . 14 6% 6% 6% - % Parke Davis.60e 11 44% 43 43% - % Parker-RustlVi 2 32% 32 32% + % Parmelee Trans 20 19% 18% 18% + % Patino Mines Vie 8 21% 21 21 — Vi Penick A Ford 3 3 73% 73% 73% -1 Penney J C .36e 9 54% 54% * 4% - V* Penn-Cent A V«g 25 38% 37% 38 Penn CoalAC It 1 14% 14% 14% - % Penn-Dik Cemnt 5 28% 28% 28% + % Penn PALt 20e 3 26% 26 26 - % Penn R R le 36 42% 42 42% + % PeoplesGLAC4a 4 112% 112 112 -% Pepsi-Cola 70s 23 34 33% 34 Pere Marguet pf 2 101 100% 101 Pet Milk 1_ 2 43% 43% 43% +1% Pfeiffer BrewVie 1 14% 14% 14% - % Pfizer. Chaa 1 . 63 67% 64 67% +8% Phelps Da 1.60 17 45 44% 44% - % 'Phila Co 6 pf 3 320 70 69 69 -1 Phila Elect 1 20 4i 30% 30% 30%+ % Phila El *1 pf 1 7 30% 30 30 - % 'Phila El pf4.40 10 120 120 120 PhllARdsCAI Vie 18 16% 15% 15% - % Pbllco Corn 60s 12 35% 35 35% - % Philip Mors 1% 41 48Vi 47% 47% Phil Morris pf 4 1 109 109 109 Philip M Pf 3 60 30 102 102 102 Phillips Petrol 2 15 67 66 66 + % Pills Mills 1.20a 1 34% 34% 34% — % 'Pills Mills pf 4 . 10 107% 107% 107% Pitts CkACh Via 6 12% 12% 12% — % Pitt Cons Cl .40 28 25% 24% 24%+ % Pitt Plate G1 80 12 43% 42 42%-1 PlttScrAB 40 15 11% 11% 11% - % 'Pitts steel 6 of 300 67 86 86 'PltStl prpf234kl20 86 85 85% + % Plttslon Co 9 25% 25% 25% - % Plymouth OH lb 4 25% 25 25 — % Pond Creek 2 . 2 38 38 38 - % Pressd Stl Car 1 9 24% 24% 24% - % ProcterAGam 2 3 69% 69 69 -1% Pub SvcCol 1.65 38 39% 38% 39%+2% Pub Svc N Vie 5 29% 28% 28% - % 'Pub SvcNJ pffi 180 147 146% 147 + % 'Pub SvcNJ pf7 90 139 138 139 +1 'Pub SvcNJ pf6 190 123% 122% 123% 'Pub SvcNJ pffi 260 111% 111% 111% + Vi Pullman Vie_ 13 65 64% 64% - % Pure Oil 1_ 21 17% 27% 27% - y. PurltyBa 1.60a. 2 37 37 37 + % QUAKER SOI 3 23 22% 22% - % RADIO CP .20e. 97 16% 15% 16 - % Ra-Kth-01.20- 49 26% 26% 26% - % 'Ry Secur 111 it_ 60 32 32 32 +1 Rayonler Inc __ 19 29% 28% 28% - % Rayonier of 2__ 3 37% 37% 37% - % Reading Co 1 .. 4 27% 27% 27% + % Reading 1 pf 2 1 50 50 50 Real Silk Hos 60 2 30% 30 30 'Real Silk H pf7 10 112% 112% 112% 'Reis 1st pf 180 113 104 112 +8% Reliable Stores 1 1 42 42 42 Reliance M 20e 5 25 25 25 — % RemingRan.Ofib 10 43% 43 43 - % Republic Av Via 17 20% 20 20 - % Repub Pictures. 22 15% 15% 15% - % Renub Piet pf 1. 4 ia% 18% ia% - % Repub Steel 1 - 43 34 33y« 33% — % Revere Copper . 20 26% 26% 26% Reynolds Metl 1 6 38% 38% 38% - % 'Rynlds T 1.40a 30 46% 46% 46% - % ReynTobB 1.40a 19 45 44% 44%- % Rhecm Mfa 1 5 27 26% 27 + % Richfield Oil Via 10 18% 18% 18% - % Ritter Co la_ 1 42 42 42 Roan Antelope . 7 11 10% 10% Roval Type 60. 2 27% 27V* 27% + % Ruberold Vie ._ 1 53% 53% 53%+ % Rnppert (J) Vie 3 28% 27% 27% - % SAFEWAY ST 1 8 30% 30% 30% - % ♦Safeway Bf 8 . 50 113% 113 113 St Joseph Ld 2. 7 63 62% 6J% SavageArms % 7 14% 14% 14% + % Schenley Dlstl 2 49 78% 77% 78% -2% Seab Air LRR 5 32% 32% 32% - % Seab ALRRpf 1 69% 69% 69% - % SeaWard 011 1.. 2 38% 38% 38%+% Sears Roebck la 75 48% 47% 47%-% Seeger Sunbeam 4 20% 20% 20% Servel Inc_ 19 20% 20% 20% + % Shamrock .40.. 2 29% 29% 29% - % Sharon Steel 1 12 35% 35 35 - % ♦Sharon «tl pf 6 70 105% 105% 105% SharneADhmlie 4 32 31% 32 - % Shattuck F G 1 8 '26 25% 25%-1 ShellUnOl) lVig 5 39% 39% 39%-% Silver King Col. 5 13 12% 12% - % SimmonsCo Via. 9 52 51% 52 + % Sinclair 011 1... 26 19% 19% 19%+ % Skelly OH 2g .. 1 76% 76% 76%+ % Sloss-Sheffleld . 1 22 22 22 Smlth&Coron 2. « 42 42 42+34 Socony-Vac Via 66 17 16% 17 + % SoAmGA-P.lOe 18 6% 6% 6% - % Sou P R Sue 3e 5 54 53% 54 - % ♦So PortRiS pfS 10 191% 191% 191% - % SoestGrvLl .60a 5 54% 54 54 - 34 So Cal Edts lVi. 8 38% 38 38 + % So Pacific 4 32 60% 59% 60% +1 Southern Ry 8 32 55% 54% 55% +1% Southern Ry pfS 3 84 84 84 Spalding 40g 5 28% 28% 28% - % Sparks With.20g 8 11% 10% 10% - % Sperry Corp 2 8 33% 32% 33% - % Spicer Manufg3 2 84% 8334 8354 -1% Spiegel Inc 10 35% 35 35% - % ♦Solegel pf 4% 100 106% 106 106% + % Square D Co new 9 24% 24 24%+ % Squibb&Son Vie 4 48% 48 48% +1% ♦Squlbb&S pf 4 30 114% 113% 114% + % Std Brands 1.60 23 52% 52% 52% - % Std Gs&El S4 Pf 18 51 50% 50% - % Std Gs&El SRpr 2 133% 133% 133% +1% Stand Oil Cal 2. 32 56% 56% 56%+ % Std Oil Ind la_. 76 48*4 47% 47V4 + 34 Std Oil NJ la 52 78% 78 78%+% Std Oil Ohio Vie 1* 25% 25% 25% Std Stl Song V«e 11 19% 19*4 19% - % starrett L S 2 . 1 46% 46% 46% - % sterling D 1 60 15 87’4 55% 57% +2% Stewart-WarVia 14 21% 21% 21% - % Stokley-Van Cm 49 36% 35 36 +1% Stokley-V C of 1 6 21% 21% 21%+% Stone A Web lg 20 23% 22% 22% - % Studebk Co Via. 15 30% 29% 29% - % Sun Cbem ,16a. 85 21% 21% 21%+% 3un Oil lb_ 2 74 74 74 Sunray Oil 20g 75 10% 10% 10%+ *4 Sunshine Bis le. 1 48% 48% 48% + % Sunshine M .40. 7 22 21% 21% - % Superheater la. 12 33 32% 32% - % SuperSteel 1.20 4 44 43% 43%-1 Sweets Co Am Vig 1 48% 48% 48% -1% SwiftACo 1.60a 10 38% 37% 37 V* - % Swift Intnl 1.60 6 34% 34 34 + % Sylvan XI Pr la. 12 37% 36% 37 + % SymingOuld Vir 18 13% 13% 13% — % TALCOTT ,40a. 1 17% 17% 17% - % Tenn Corp 1 — U 22% 22% 22%+% Texas Co 2a_ ~ 64% 63% 63% - % Tex Gulf Pr.l6e 18 13% 13% 13% - % Tex Gulf Sul 2a. 9 55% 54% 54% - % Tex Pac C&O 1. , 6 27% 27% 27% - % rex Pac LT.ing 17 21% 20% 20%-% TexdtPacRr2V4g 3 51% 51 51% - % Thatcher Ilfs 1 42% 42% 42% -1% ♦Thatc evpf3 60 10 63 63 63 — % Thermold Co 60 9 15 14% 14% - % ♦Thermod pf2Vi 90 60% 60% 60%-1% Third Ave Trans 22 15% 15% 15% - % Thompson P Vie 3 64% 63% 63% - % ♦Thomp Pr pf 4 20 110 110 110 + % Thom-Starrett * 9% 9V4 9% - % TideW A 011 80a 27 23% 23 23 Tlmk-Det Ax 2 4 52 51% 51% - % rimk Roller B S. 2 61% 60% 61% + 14 Traneamer Via. 20 19% 19% 19%-% Trana A WstAlr 6 52% 51% 52 + % Transue A WVie 1 26 26 26 - % Trl-Cont Cp.20g 25 11% 11% 11% - % ♦Trl-ConU pf 6. 20 111% 111% 111% - % Truax-TraerCl 4 18% 18 18 - % 30th Cen-Fox 3. 37 81% <0% 81%+ % 20tbC-Fk pflVh. 9 77 75% 78%+1 K Leading Issues Mixed As Specialties React To New Restrictions By T. E. Applegate Associated Press Financial Writer . NEW YORK, May 1 UP).—Stocks were mixed in selective dealings in today's market as special Issues re acted to news of a spotty character. Motors, rubbers, oils and some rails displayed a steady tone whife liquors reflected the new restrictions on use of grain by distillers. The tape idled frequently in another quiet session and trends were lack ing near the fourth hour. Transfers were again about 1,000, 000 shares. Ahead most of the day were Gert eral Motors, Chrysler, Goodrich, U. S. Rubber, Southern Railway, Southern Pacific, American Tele phone, Electric Power & Light, Texas Co. and Northern Pacific. Standard Oil (New Jersey), was firm on the extra dividend declaration. Charles Pfizer in "thin” dealings jumped 5 points in initial response to favorable first quarter earnings. Allis-Chalmers reacted to a report of net loss for the quarter. Also on the offside were Republic Steel, Schenley, Distillers Corp., National Distillers, Radio Corp., American Woolen, Goodyear, Kennecott, Johns-Manville, International Har vester and Douglas Aircraft. Washington Exchange SALES. Carpel Corp—20 at 51. wash. Gas common—25 at 333k Garflnckel 5 Vat, ptd.—15 at 28, 5 at ’8 Capital Transit Co.—25 at 40 Mergenthaler Lino.—50 at 79. 10 at 79. Riggs Bank common—10 at 380. BONDS. PUBLIC LTILITY. Am Tel A Tel cv db 3s 1856 lS'f'/j Cap Traction 1st os 1947 _ 103V« Trao SJ.1 r,.4s 1!I4H 105'4 106'/, Cl^y A Suburban 6s 1948 109 Georgetown Gas lit £s 1961 125 I""" Pot Elec Pow 3*/4s 1986_105 Pot Elec Pow 3*,ks 1977 112 Washington Gas 6s 1960 - 129 Ter R1 A W Cp 1st 4',4s 48 103*4 ” STOCKS. „ , PUBLIC UTILITY. Amer Tel A Tel (9) j 94 Capital Transit (2) __ . .19 40 N A W Steamboat (t4) 210 Pot Elec Power 67. pld (6) . 113 " "" f*„Pw 6*4% D*d '6-601. 110 Wash Gas Lt com <1.501 3.3 34 Wash Gas Lt cm pfd <4.25)‘HOVa Wash Gas Lt cu cv pi <4.50),ll<l'/a Wash Ry & El com <a9.00)_ 800 Wash Ry A El pld <51 . 127*4 BANK AND TRUST COMPANIES"" Amer Sec A Trust Co <10). 323 335 Bank ol Bethesda <i.75)._ 39 Capital (.80) .... 30 Vk Com A Savings (ylO) ... 500 Liberty (t7)_ 246 Lincoln (h5) 810 Natl Sav Tr (6) 315 Pr Georges B A Tr (tl) . . 28 Riggs (12) ... 375 385 ' Union Trust Co. (t3.00). . 150 165 Washington <6> 170 Wash Loan A Trust <e8) 345 FIRE AND TITLE INSURANCE. American HHi 150 Columbia <k30> _ .15 17 1 Firemens (1 40) 33 National Union (.76)__ 14*4 _ 1 Real Estate (to) 188 MISCELLANEOUS I Carpel Corp (2) .49 I Garflnckel com (l.flO) 59 61 [Garflnck 5* 2-3, cu pi (1.375) 27*4 28 Hecht com (1.20) 423. 44'k {Hecht 33kr< cum pfd i3.75) lOR'. I Lanston Mono (new* (11.... 194, _ i Mergenthaler Lino (ail 78*4 _ {Natl Mtg A Inv pfd (p 40) 7*5 _ 1 Peoples Drug St com (1.60) 54’2 _ I Security Storage (41 95 _ ; Ter Ref A Wh Corp (3) 58 _ jWdwd A Loth com (P2.30). 80 _ I Wdwd A Lothrop pfd (7) 125 _ •Ex dividend. tPlus extra, a PaH ao Ifar this year e 2% ext "a. 13*4 extra. :h 55,00 extra. k 10c extra. p Paid In ! 1945. y 510.00 extra -- Commodity Prices NEW YORK. Mar 1.—Thr Associate Press weighted wholesale Brice index ol .3.5 commodities today advanced to llrt.Rl. Previous day. lid.69: week ago. 116.93: month ago. 117.27; year ago. 108.67. 1946. 1945. 1944. 1943 High 117.40 112.81 108.73 107.54 Low _ 112.02 107.90 106.03 103.43 < 1926 average equals 100.) Sterling: Drug, Inc.’s March quar ■ ter profit of $3,822,295 equaled $1.01 a share, against $3,057,846, or 81 cents a share, in the first 1945 quarter. Bales— • Stock and Add Net Dividend Rate. 00. High. Low. Close, chie. 20thCn-F pr4Vi I 103% 103% 103% - % Twin City RpTr 3 22% 22% 22% - % tTwln Cty pr2% 1 69% 69% 69% - % Twin Coach3 22% 22% 22%+ % UNDERWD %e 2 76 76 76 - % UnASB&Rub .70 4 20% 20% 20% - % Un Bag St P 60a 7 35% 35 35 - % Un Carbide S 14 120% 119% 120% +1 tUnElMo PI3.70 50 110 110 110 +2% Union Oil Cal 1 26 28 27% 27% tin Pacific 6 2 157 156% 157 + % Utd Air Lns tie. 19 40% 39% 40 Utd Aircraft 2e 26 30% 29% 30 - % Unit Airclt pf 5 1 112% 112% 112% + % Unit Biscuit 1 a 13 54 53% 54 +1% Unit Carbon 3 1 88% 88% 88% - % I Unit-CarF 1.20a 2 40 39% 40 + % Unit Cig Wh Str 14 15% 15% 15% - % Unit Cigar prl‘4 2 26% 26% 26%+ % Unit Corp 102 5% 5% 5% Unit Corp pf 2k. 2 52% 52% 52% - % Unit Drug _ 5 37% 37% 37% - % Unit Dyewood _ 3 13% 13% 13% — % Utd Elec Coal 1 2 19 18% 19 + % Unit Eng&Fdy 2 1 50% 50% 50% -1 Utd Fruit 4 _ 6 144 142% 143% - % ■ UnitGasIm.OSe 6 29% 29 29 -%! UnilM&Ml ,20a 18 63 60% 63 + %! Utd Paperboard 8 14% 1«% 14% - % US & For 8ecur 3 29% 29% 29% ♦US & FrB pf4Vi 20 106% 106 106% - % US Freight 44*.. 5 22% 22 22% US Gypsum 2 . 3 125 124% 125 + % US Hoff Mch %e 3 43% 43% 43% + % tUS Hoff pf 2+4 90 86 85% 86 +1% US Indus Ch la. 1 53% 53% 53%-% US Leather A 2- 4 38% 38 38 -1% US Llnea _ 17 18% 18% 18%+ % US Plpe&Fyl 60 1 56% 56% 56% - % US Plywood .80. 6 63% 62 63% +1 US Rubber 2_ 13 79% 78% 79%+ % US Smelt R&M 2 74 74 74 - % U8 steel 4 . - 29 84% 83% 83% US Steel pf 7... 3 159 158% 158% + % USTobaccol.20 5 27% 27 27 - % Utd Stockyd V„* 2 8% 8% 8% - % Unit Strs 2 of _ 4 18 17% 18 + % Unlv-Cyclops 1. 1 22% 22% 22%+ % UnlvLabl ... 3 21% 20% 20%-% Unlv Pictures 2 9 46% 45% 46 tunlv Pic pf 4% 150 99% 99% 99%+% VAN NORM v4e. 7 25% 25% 251/4 - % Van Raalte le.. 1 58 58 58 -% Vanadium %g 1 31% 31% 31% — % Vertlent-C S %• 8 22% 22 22 Vick Chemical 10 51 50 50% - % Va Carol'nChem 8 10% 10% 10% — % tVa-CarC 6pl3g 3 91% 90 90 -1% 'Virgtnln Ry2% 6 51% 50% 50*4—1 VlsklngCpA 1.S9 2 50% 50 50% - % WABASH pf 4% 7 76 76 76 +1 Walgreen 1.60 4 53 *3 53 — % Walker Hirm hi 9 112% 111 111% -2% Walworth %g .. 17 18% 18 18% - % Ward Bak ,16e 6 14% 14*% 14% Warner B Ptct t 25 53 52% 52% - % Warren Fndry.. 2 43 43 43 Warren Pet 80. 4 28% 28% 28%-% Wash GasLt 1 % 4 33% 33% 33% - % Wayne Pump 2. 3 45% 44% 44% - % Webster Tobacce 5 14% 14% 14% Wesaon O&S la. 2 38% 38% 38% - % West Ind Bug la 17 44 43 43% - % tws Penn El of? 20 120 119% 119% + % »Ws Penn El pf«130 111% 111 111%-% tws Pa Pr p!4% 270 115% 115 115 - % WV Pulp&P.40e 2 49 48% 48% - % Western Air Lin 2 25% 25% 25% - % Westrn Auto %e 7 84% 83 83 + % West Pacific 3 . 5 54 53% 54 +1 West Un Tel A . 19 37% 37 37 - % West Alt Br Vie 18 38% 38 38% - % Wstnghse El >ie 47 34% 33% 33% - % tWsthseEl pftie 20 40% 40% 40% - % Weston El .80e. 1 41 41 41 —1% Westvaco 1.40.. 4 40% 40 40 — % tWestvaC pf3% 1104% 104% 104% Wheeling Stl le 3 50% 49% 50% — % tWheelStl prpf5 60 104% 104% 104% + % White Dent 1.40 2 36% 36 36%+% White Motor lb 4 38% 38% 38% - % Whlti Sewing M 5 16 15% 15% - % Wilcox OU .20 . 3 11% 11% 11% + % WUlys-Overlnd. 43 23% 23 23% — % Wllson&Co 20e 11 17% 17% 17% - % Woolworthl.60a 13 60% 59% 59% — % WorthingtnPl % 3 62 61% 62 Wrigley W Jr 8 3 78 77% 77%+% WyandWor ,80a 2 43 43 43 - % YALE & r bba. 4 53% 53 53% - % York Corn 30 _ 5 24 23% 24 + % YoungSpg&W 1 4 31% 31% 31% Youngst S&T 2. 6 71% 70 70 -1% Youngst Stl Drl 2 26% 26% 26% - % ZENITH RAD le 2 37% 36% 36%-1 Zonite Prod 1 Be 9 14% 13% 13Ya-% Hourly Bales an tbs Exchange Today: ll:00a.m. 220000 12:00 noon 390000 1:00 n.m. 550 COO 2:00 p.m 680 000 Apnroxlmate Total 980 COO tUnlt ot trading. 10 shares; sales printed In lull. *In bankruptcy or receivership or being reorganized under Bankruptcy Act. or securities assumed by such companies Rates ol dividend In the foregoing table are annual disbursement based on the Inst quarterly or semiannual declaration. Un less otherwise noted special or extra divi dends are not Included, x Ex dividend xr Ex rights, a Also extra or extras, b Plus stock dividend, d Cash or stock, a De clared or paid so far this year, f Payable In stock, g Paid last year, h Payable In, Canadian fundi, k Accumulated dividend* < said or declared this year, n Ntw Issue. 1 4 N. Y. Bond Market SELECTED LIST OF ISSUES. (Famished by the ImmIiM Frees.I TODAY’S SALES Erl* 3V.« 80 F 102% Reported In Dollars I Hud Coal 6s02A 84% Domestic. 3 460 000 HudAM rl 6a 57 74% foreign .. 220 000 Hud&M in 6l 67 38% 3 S Govt 2 920 000 ic 4s 52 - 107% rREASORY. Close 1C 4%s 00 93% Via 4 8 ... 101 15 ICCStLo 4»Aa63 98 I'/aS 54-62 106 4 Int Gt No5s50C 79% )s 54-52 Dec. 103 24 Int HydroE)«s44 98 t’/eS 60-65 ... 113 20 Int TAT 4'As 52102 !'/*s 02-61) 102 18 Int TAT 5s 55 105'/* I’ is 62-5(1 Dec 102 4 Leh VI 4<As2003 57% I'/ss 67-62 105 22 Let) VI 4s 2003 54% :'/aS09-04 Jun 104 22 Lorrillard 3s 63 104% I'/as 70-65 ... 104 22 MSPSSM 4s 91 73 !VaS 71-66 104 16 M-K-T 5s 02 A 98% S'As 72-07 Jun 103 16 M-K-T 4'As 78 96 S'As 72-67 Dee 103 19 M-K-T Ist4s90 99% 4EW YORK CITY Mo Pa" <>» 77 F 95% Is 80 122% Mo Pac 6a 81 I 95% FOREIGN Close Mo Pac gn 4s 75 54% intioq 2d 7s 57 32 Morrls&Esx5s55 79% trgt 4s 72 Apr. 100% Moris&E 4'As55 73 tustralla 5k 65 109% NatDalry3%s70104% Iras 3V*S 27 ser 64% NJ PwrALt3a74 110 Colombia 3k 70 67% N O Term 4s 53 108% DOMESTIC. Close N O 1 M 5'As54 101% tm A PP6S2030108% .NYC rl 6s 2013 98% tm TAT 2V«s75 105 NYC4Vas20]3A 92% tm TAT 36 60 152% NYC con 4s 98 93% VmTobacco3s69105% NYCA8I.3'4s80 105% ITSF 4s 96 136% NYNH&H 6s 40 85'/* ttl Dnv 1 st4s48 46 NYNHAH4'/aS07 69% ’6AO 95 A 88% NYNHAH3'/as50 60 ■E&O 95 C_92% NYOW rf 4s02 24 •BAO cv 60 74% NorflkSo5s2014 62% Delta Stl 2 Vis 70102% NorPac4'As2047105% Dost Me 4s 60 100 Nor Pac 4s 87 118% •BuflRAP 57 st 86 OrWsRRN 3s 60105% Cent Ga cn 6s45 81% Penn PALt 3s75104% C R R N J 5s 87 46 PennRR gnos68 133 ChlAAlton3s49 60% PennRR g4'.'4S8U26% CB&Q 3 Vis 85 103% Pbill Pet 2Vis64 103% Chi IndALo5s47124, PtWVa 4Vas69B 101 CMStP4>As2019 98 Reading 3',is 95101% CMStP4'As2044 82% Rutin Ist4'/a41 21% ChlANW 4'As99 93 StLSnFr 4'As78 44% CRIP 4'As 62 A 67% StLSnFr 4s50 A 60% CRIP rf 4s 34 64% StPKCSL4 'As41 59% CTHA8 In23i94 100 Sea Air L c 6s45 74 Cln G&E 2Vis75105 So Pac 4 VaS 09 104% CCC StL 4'Aa77 94% 3oPac4VasOr77 105V* ElevUnTr4 'Aa77105 So Ry cn 5s 94 133 Cons Ry 4s55Ja 61 Third Ave 6s 60 78 Deere 2 Vi a 65 104 Third Ave 4s 60 100 Del A Hud 4s 63103% West Md 4s 62 106'/* Del Lk&W in93 38% W*Pac4'/as2014 1C9% DnARGW 6s65a 25% West Un 4<As50 103 Det Edison 4s65 106% Wise Cent 4s 49 86% Erie 4‘As 2015 94 Wise Cn 4sSD3« 50 • Sold without accumulated Interest. ' N. Y. Curb Market LIST INCLUDES ONLY SELECTED ISSUES CHANCED rBOM PREVIOUS CLOSE. Clou Italian Super A. 3% AluminumLtdh8202 Kirk LGM h 04 I'M* Am Cn Mfc .20* 16% Le Touurneau 1 <3 Am Maracaibo 4% LoneStarGas.SO 19% AmPotdtChBIVi 43 Lon* Island Lt* 2% Am Superpower 2*% Mas* Util Asson 2% Ark Nat OSS A. 7% Me Will Dredce. 20% Ashland ,40a 11% Menasco Mf* 7% Atlas Corn ww . 11% Mercant Strs 1. 29% Babcock&W Vie 38% Mid Stl Pr B vtc 4% Berk&Gay Furn 5% Mid W Corp Vie 29 Blue Rldce .30* 5% Midw Refine 20 5 Bnk HUlfcS V4*. 23% MinlngCorpCan 8% Burma Ltd ... 2% Molybdenum'/a. 16% Burry Biscuit _ 10% Monogram Plct 10% Calif El Pwr .60 13 Natl Bell H .07* 7% Callite Tung 9% N*t Fuel Gas.80 15% CanMarconl 04e 3% Nat Rub Mch 1 22% Casco Products- 24% Nlagra Hud Pwr 13% Catalin Am 40 18% No Am Lt Si P.. 10% Cent & 8 W Util 12% Pan Am Air wr 8% Cessna Alrc Vig. 7% Pantepec Oil .64 12% Cities Service 36% Pennroad ' ig.. 8 ClsudeNeon.OSe 7% Pepperell 2 62 Col Fuel&Ir ww 7% Pitney-Bcw.40a 12% Colts P F Arms 39% Prem Gold Ole 2%» Com Si Sou wsr % Producers Corp. 2% ConsTexUle.30s 13% R-K-O opt war. 11% ContFd&Mh %e 29 St Regis Paper.. 11% CornucopG Min 1% Segal Lock 5% Creole Pet lUg 31% Simplicity Pat 9 Croft Brew ,06g 3 Solar Alrcrft.60 24 Crown C Pet'*g 8% Sonotone .20 5% CubanASug 1 Vi* 32% Std Cap & Seal 39% Domestic Ind A 6% Sid Dredg pi I 28% Elec BdAtShare. 23% Std Power A: Lt. 5 EUiott Co 1_ 32% Sterchi Strs la 47% Equity Corp 3% Sterling Inc 16% Fairchild E 20g 6% Texon O Si L 40 10% Fedders-Q ,2(le. 14% Textron Inc Vj« 22% Ford C Can A 24 Transwest O la 60% Gobel Inc 7 Tri-Conti ww 4% Goldfield Cons 2% Udylite Cp 34e 14 GrcenfTAiD.flO* 23% Unexcelled Mfg 10% Hartford R vtc 6% Unit Lt At Rys 1 31% H'vardBrew n&e 4% US Radiator 18% Hazeltlne Vie 23 Unit WallP lSg 10% Humble Oil 1'i 71 WagnerB vtc'*e 33% Hydro Elect Sec 7% Waltham Watch 20% Int Petrol hi 19% Wriaht-Hg h.20 4% Rates of dividends In the foregoing table are annual disbursements based on the last quarterly or semiannual declaration. Un less otherwise noted, special or extra divi dends are not Included, a Also extra or extras, b Plus stock dividend, d Cash or stock e Declared or Dald so fir this year f Payable In stock c Paid last year, b Pay able in Canadian funds, k Accumulated dividends paid or declared this year, n New issue. ww With warrants. xw Without warrant* Dividends Announced NEW YORK. May 1 UP).—Dividends de clared: Pe- Stk.of Pay Rate. riod record, able. Increased. Borden Co_ 50c __ 5-11 6-1 Peter Paul--.-. $3.00 __ 5-24 6-10 Irregular. Unit Gas Imp_ 65c_ 5-31 6-29 Stock. Cuneo Press_KJti'r 6-18 7-1 Peter Paul _3 additional shares for each share held. Initial. Wilkes-Bar Lace Mfg 25c - 5-15 6-1 Males R&T 5V4 pf 13»,4c S 5-15 6-1 Extra. Norwich Pharmacal 5c 5-14 6-30 Stand Oil New Jersey $1 5-15 6-12 Regular. Blauners Inc . .. 12*^0 Q 5-8 5-23 Blaw-Knox 15c 5-13 6-10 Columbian Carbon 35c Q 5-15 6-10 Inti Bus Mch $1.50 5-22 6-10 Molybdenum Corp 12*2C 6-15 7-] Phillips Pet . . - 50c Q 5-10 6-1 U S Steel $1.00 5-10 6-10 Am Tobacco ,75c Q 5-10 6-1 Am Tobacco B. _ 75c Q 5-10 6-1 Chain Belt 25c 5-1 o 5-25 Clark Equipment 75c 5-28 6-15 Deere Sc Co. pfd 35c Q 5-9 6-1 Ely Sc Walker D G 25c __ 5-15 6-1 Flintkote Co. 15c. 5-27 6-10 Jones Laugh Stl 50c 6-3 7-5 Mead Corn . 20c 5-15 6-7 Norwich Pharmacal 15c Q 5-14 6-10 Farkersburg Rig & R 25c 5-2o H-l Stand Oil Calif 50c Q 5-15 6-15 Stand Oil New Jersey 50c S 5-15 6-12 Universal Consol Oil 50c 5-7 5-22 Chicago Grain CHICAGO. May 1 (JPi.—May rye ad vanced on short covering in a relatively quiet trade today. Although the number of transactions was small, price changes were fairly broad in view of the ’‘thin” market existing in this future. Oats firmed late In the session In sympathy with the rye strength after selling off on moisture reports In early dealings. Flour production dtcreased 374.000 sacks last week. Advices to local -firms said beneficial rains were received over night in Western Canada. At the close wheat, corn, barley and deferred rye contracts were unchanged at ceilings. Oats were unchanged to V4 higher. July 83. and May rye was 4V4-41, higher at 2.62Vj-'/,. WHEAT—Open. High. Low. Close. July 1.83V, 1.83V', 1.83*4 1.83 Vi September ___ 1.83*4 December. ___ 1.83*2 May. ’47 -- 1.83*4 CORN— May..... __ 1.21*4 July ___ 1.21*, September ___„ 1.21*, OATS— May .83 .83 .8,3 .83 July . .83 .83 .83 .83 September .81V, .81s, .81*4 December _ .81*', .81 3, ,81s, ,81s.-34 RYE— May . .. 2.574, 2.62*4 2.f7*, 2.82*4-*,, July ___ 1 4SV, September ___ 1.48V, December ___ 1.48*, BARLEY— M»y- --- 1.26*4 July ___ 1.26*4 September ___ 1.26*4 December __i__ 1.28'a New York Cotton NEW YORK. May 1 (JPi.—Cotton futures moved lower In quiet trading today pend ing further development over price control legislation. Scattered outside selling was influenced by Washington reports indicat ing that the Senate Banking Committee Is against immediate decontrol of the cotton Industry and a declaration of Secretary of Agriculture Anderson in favor of strong price controls until production and supply are balanced. Mills were fair buyers on the decline. The weekly weather report declared generally good progress has been made on cotton plantings during the past week. Late afternoon prices were 30 to 60 cents a bale lower. May. 27.64; July. 27.04: October, 27.57. The cotton market dropped Into new low ground for the day toward the closv as nervous selling increased. Holders ol unhedged cotton in the South who have been loking for further price rise were believed to becoming uneasy and selling futures against such stocks. * Futures closed 85 cents to S1.05 a bale lower. „ Open. High. Low. Close. May- 27.62 27.62 27.45 27.40b July __ 27.62 27.65 27.44 27 4T-4N October 27.83 27.65 27.45 27.48-49 December 27.64 27.66 27.47 27.50 March . 27.66 27.67 27.50 27.53 27.60 27.64 27.47 27.40n Middling snot. 2R.07n. b Bid. n Nominal. Market Averages STOCKS. 30 15 15 60 „ . Indst. Rails. Util. Stks Net change _—.5 -.5 —.1 —.1 Today close_107.0 47.3 54.6 79.0 Prev. day_1(17.5 46.8 54.7 79.7 Week ago,_107.5 46.4 54.2 TfM Month ago_105.8 47.7 53.8 78.9 Year ago_ 86.4 40.4 43.1 64.7 1946 high_108.8 51.0 54.8 80 5 1946 low_ 96.1 44.1 50,0 72.\ BONDS. 20 10 10 10 10 Low Ralls. Indst. Util. Fgn Ylelu Net change—.4 unc. unc. -.2 +.1 T'doy close 103.4 103.n 107.5 *79.0 118 1 Prev. day. 103.8 103.6 107.5 78.8 118.6 Week ago 104.4 103.7 107.5 78.6 119.4 Month ago 106.6 104.7 108.1 77.6 120.1 Yeslr ago 100.4 104.8 107.6 73.0 117.5 1946 high 106.9 105.2 109.5 78.8 120.2 1946 low 103.8 103.6 107.5 75.7 118.0 •New. 1946 high. (Compiled by the Associated Press.) Odd-Lot Dealings PHILADELPHIA. May 1 The Se curities and Exchange Commission reported today these transactions by customers with odd-lot dealers or specialists on the New York Stock Exchange for April 30: H, 13'’ purchases Involving 1 TO.931 shares: 3.HOI sales Involving lB8.a.3X shares, in-1 eluding 3:.’ short sales involving 1.134 shares. d-:-k First Mortgage LOANS RENTS—SALES—INSURANCE P. J. WALSHE, ING. 1115 Eye St. N.W. MORTGAGE LOANS Favorable Rate FUST DEED OF TRUST ONLY 6E0RGE I. BORGER 643 Inliiu At*. N.W. Nat’l 0360 i We are pleased to announce the installation of a direct private wire to Francis I. duPont &.Ccl MEMBERS Or NEW YORK STOCK EXCHANGE NEW YORK CURB EXCHANGE AND COMMODITY EXCHANGES ONE WAIL STRHT NEW YORK %, N.Y. ROBERT C. JONES & CO. New York Curb Exchange 'Washington Stock Exchange METROPOLITAN BANK BLDG. _METROPOLITAN 2*22_ Members Washington Stock Exchange Thomas L. Hume Sons INCORPORATED (Business Established 1899) Orders Accepted in All Markets Listed ~ Unlisted 917 13th St., N. W. Tel. NAtional 1346 To All Who if Wear This ' Emblem SIXTY-SIX years old, the Equitable has not deviated from its original object of mutual advantage to saving and borrowing mem bers. Equitable * Co-operative Building Association ORGANIZED 1879 915 F STREET An “After Hours” Service For Busy Investors For the convenience of our clients and other investor*, we have decided to remain OPEN UNTIL 9 P. M. THURSDAY EVENINGS Our staff will be on hand to discuss your investment problems with you. If you are not already acquainted with our facilities and the scope of our activities, you are invited to take this opportunity for a convenient visit to our office*. L. B. BRUBAKER. Riiidint Manage* Bache & Co. MEMSERS NEW YORK STOCK EXCHANGE ANBOTHE* LEADING STOCK AND COMMODITY EXCHANGES HOTEL WASHINGTON, WASHINGTON 4 TELEPHONE: METROPOLITAN SGSS MAIN OFFICE: NEW YORK, N. Y. OFFICES IN SS CITIES—WIRE CONNECTIONS TO AS CITIES FOREIGN REPRESENTATION, LONDON. ENGLAND—MEXICO CITY