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D.C. Exchange Reports Pepco Common Still Leads in Popularity By Edward C. Stone Potomac Electric Power common again was the most popular issue in trading on the Washington Stock Exchange during June, with a turn over of 5,077 shares, exchange offi cials announced today. The stock now is selling at a 1948 high of 141R following the recent granting of higher rates. Capital Transit came second in the month's activity with 720 shares changing hands. Garfinkel 4J.i% preferred was third with a turn over of 666 shares. Washington Gas Light common remained popular with 651 shares changing hands in June. Woodward & Lothrop common figured in sales of 332 shares, Hecht common and the other two Gar finkel issues appeared quite often in the daily trading. Woodward & Lothrop preferred was neglected and Peoples Drug was less active than usual. Mergenthaler Linotype was strong at 52, but figured in sales of only 56 shares. Norfolk & Washington Steamboat stock registered a new 1948 high of 170 on a 30-share turnover. National Mortgage & In vestment preferred climbed to 8’« on sales of 230 shares. Union Trust was the most active bank stock, with American Security, National Savings and Washington Loan & Trust also appearing on the board. Other bank shares were neglected although bids for these issues remained firm. June trading was an important factor in the first half year's record volume of 70.881 shares, which com pared with 18.808 a year ago. May Business Pace Slows The Federal Reserve Bank of Richmond reports that activity in the Fifth District in May was gen erally lower than in April. Less new insurance was written, and time de posits in member oanks declined for the third consecutive month. F’arm income in the first four months of 1948 was 7 per cent lower than in 1947. Operations in textile mills show a slowing tendency as a result of elimination of the large back-log of orders built up after the war. Construction assures full employ ment until fall, but new contracts appear to be tapering off. Better grades of furniture are now selling more rapidly than lower grades. New Offices Established. The Fay Traffic & Service Corp. ha* opened offices at 1703 K street * N.W., for general traffic representa tion. with Edward A. J. Fay, pres ident, and Eugene S. Ostheimer, vice president. Appraisers for the new Guardian Building & Loan Association which recently opened offices at Silver Spring, Md„ are: Robert P. Ripley, president of the Real Estate Board of Montgomery County; Lawrence V. Lu^gs. president of the Junior Chamber of Commerce of Silver Spring, and Walter Miller. For the first time since it was listed on the Washington Exchange. Potomac Electric Power common stock sold today at 14'». Most of the trading was at 14 flat. Other issues also were in excellent demand. Business Briefs | Steel Mill Operations for the cur rent week were scheduled at 90.8% of capacity, indicating production of 1.636.600 tons—American Iron & Steel Institute. Figures last week were 90.3% and 1,627.600: a. month ago. 96% and 1,730.400: a year ago, 91.5% and 1,601,200. Wholesale Prices, like retail prices, r-non may set a new alltime high— Cleveland Trust Co. The bank's monthly bulletin noted that "the third round of wage increases, now well along.” was a "factor contri buting to higher prices." Construction Activity continues to set new records—Bureau of Labor Statistics. Dollar value in June totaled $1,605,000,000. a rise of 11% from the previous month and 38% above the same 1947 month. It was the highest for any month since January, 1939, when monthly data first were available. The Weekly Pay Check of the average American factory worker last May bought 27% more goods than could have been purchased with the pay check he received in 1939—National Association of Manufacturers. Diamond Alkali Co. has com pleted negotiations with the Met ropolitan Life Insurance Co. to borrow $10,000,600 at 3';r. The loan will mature July 1, 1968. Southern California Edison Co. was reported planning a $25,000,000 offering of first mortgage bonds early in September to help finance construction. General Motors Corp. car and truck production in the United States and Canada totaled 164,0661 units in June, an increase of 5,000 from the preceding month. General Electric Co. production will oe affected seriously within a month if strikes continue in the coal fields supplying steel mills, said Harry L. Erlicher, vice presi dent. Rhode Island Insurance Co.. Wm. Penn Fire Insurance Co. and Na tional Insurance Co. have taken steps toward merging the three companies, Stewart B. Hopps, Rhode Island chairman, announced. Shrllmar Products Corp. declared a dividend of 40 cents a common share, payable October 1. Previous payments were 25 cents quarterly. New York Telephone Co. earned $14,517,536 in five months ended May 31 vs. $15,871,357 a year earlier. American Power & Light Co. and subsidiaries had net income of $7, 039.316 in three months ended April 30 vs. $6,039,610 in the same 1947 petiod. International Shoe Co. earned $6. 949.461 or $2.04 a share in six months ended May 31 vs. $8,234,197 or $2.42 a year earlier. American Box Board Co. and sub sidiaries reported net income of $980,663 or $3.51 in six months ended May 31 vs. $587,869 or $2.57 in the same period last year. Gleaner Harvester Corp. earned $2,023,978 or $6.74 in nine months ended June 30 vs. $1,060,051 or $3.53 a year earlier. National Battery Co. net for 12 months ended April 30 was $3,141. 532 or $9.38 vs. $1,484,452 or $4.43 in t.he preceding fiscal period. Struthers Wells Corp. earned $622,566 in six months ended May 31 vs. $511,402 a year earlier. Transue & Williams Steel Forging Corp. profit for six months ended June 30 was $162,334 or $1.20 vs. $157,202 or $1.16 in the same 1947 period. Adnjiral Corp. has purchased the domestic appliance division plant of Pressed Steel Car Co. at Hegewisch. IU, for an undiscloed amount. » i N. Y. STOCK EXCHANGE i (Furnished ky (he Associated Preea.) Seles— Stock and Add Net Dividend Rale OU High bo* 2:30 chge ABBOrr LAB2a 2 7*4 76% 76% - % A C P-Bril) Mol 4 9% 9% 5% Acme Steel 4a 6 54% 53% 53% - % Adams Exp tie 1 21% 21% 21%-% Addresso-Mull i 10 40 39 39% - % Admiral Cp 30e 12 15% 14% 14% - .% All Reduction 1 10 24% 24% 24% + % Alaska Juneau. 10 4 3% 3% — % Aldens luc 1 % 12 20 19% 19% Alleghany Corn 33 4 3% 3% — % Alleghany Cp nf 4 54% 54 54% + % Alleg Lud ROe 6 32% 32% 32% - % Alleg Lud pf 41a 1 108% 108% 108% + % Allied C&Dye 6a 1 192 192 192 -% Allied Mills 1 He 7 29% 29% 29% Allied Sira 3 12 35% 35% 35% Allis Chaim 1 80 20 39 38% 38% + %| Amal Leeth 20e 2 5% 5% 5% Amerada Pet 3. 2 118 118 118 Am Airline* 20 8% 8% 8%— % AmBankN 1.60* 9 29% 29% 29%+ % 'An Bnk Nt pf3 10 70 70 70 +2 Am Bosch *4g 3 12% 12% 12% + % AmBrkShoe OOe 8 40% 39% 40% + % Am Cable * Rad 3 6 5% 6 + % Am Can 3 3 86 85% 85% - % 'Am Can of 7 80 171 170% 171 +1 Am Car&Fdy 3* 3 46% 46% 46% Am Ch&Cbl 1 40 12 25 24% 25 + % 'Am Cta&C pf 5 130 108% 108% 108% + % AmCyanamid 1 a 8 38% 38% 38% + % Am Distillers 2. 16 40% 38% 40% +1 Am Export L *2 1 16% 16s* 16s* + % Am & Fran Pwr 22 3% 3% 3% + % Am&PPS7pf3Vak 12 75% 74% 75%+1% Am&FPS6 pf 3k 2 65% 65% 65% + % Am-HawallSS 3 1 *0% 401* 40% AmHomePr 1.20x12 25% 24% 24%-% Am lee OOe 1 7% 7% 7% — % Am Inv 111 1.20. 1 18 18 18 -% Am LOCO 1 40 14 24% 24 24 - % Am Mch&Fd 80 10 17% 17% 17%+ % Am Metal He . 3 34% 34% 347* _ % Am Power & Lt 14 11% 11% 11%+ % AmP&L 6pI3Hk 3 83% 82'* 827* + % Am Ridlat 40e 59 16% 16% 16% Am Saf Razor 1 14 10% 10% 10% •n Seating 1 g 11 27% 267* 27%+% Mm Sm&R 1 He 4 65% 65% 65% + % 'Am Sm&R of 7 20 150 150 150 Am 8teel Pdr» 2 3 33 32% 33 — % Am Sugar R 4e 5 40% 40 40% +1% Am Sum Tob 2. 1 18% 18% 18% — % Am Tel & Tel 9 55 155% 154% 154% - % Am Tobacco 3a 28 60% 59% 59% — % 'Am Tob of 8 140 139% 139% 139% Am Viscose 2a 11 71% 71 71 — % ♦Am Viscose pf6 1 119% 119% 119% + % Am Woolen 6 10 53% 53 53% + % Am Wool or Df 4 3 107 105% 107 +.1 Am Zinc 20e 46 8s* 8% 8s* + *4 Antconda 1 He 27 39s* 39% 39% — % ♦ AnacWirele 280 41% 40% 40% Ander Clayt 2a 4 57% 56% 57% + % Ander-Prich 1 18 33% 32% 32% Armco Steel 2b 15 31% 30% 31 — % ♦ArmcoStl pf4H 60100% 100% 100% + % Armour&Col 20 15 13% 13% 13% Armst Cork RO* 15 56s* 56 56% + % ♦Arm CorkS4pf4290 115% 113% 115% +2% Artlooir Carpt 1 22 17% 16% 17% +1 Asad Dry G 1 60 5 17% 17s* 17% + % *Asso DG 1st 6 110 107 106 107 Associat Iny 2 . 7 32% 31% 32% AtchT&8F6 16 115 1147*115 Atch T&SF nt S 3 103 103 103 A T P Inc He . _. 4 18s* 18% 18s* + % Atl Coast Line 4 3 61 61 61 + % Atl G&W Ind 3g 7 35 33% 35 - % Atl Refining 1H 93 50% 49% 49%+% ♦Atl Refln ofA 4 80 114 113 114 +1% tAtl Ref ofB.'SH 70 94 93% 93% - % Atlas Coro 1 60 15 22% 22% 22% ♦ Atlas Powd le. 6 53% 52% 52%-% Auetln Nichols . 9 7% 6'* 7% + % Autocar Co tie 2 12% 12% 12% + % Auto Canteen 1. 1 15s* 15s* 15s* Avco Mfg 35e 30 6% 6% 6% — % Avco Mfg Df 2ti 4 44 44 44 +'* BABBITT 1.20 6 16 15% 16 + % Baldwn Loco tie 17 16% 16% 16% + % Balt A Ohio 65 16% 16% 16%+ % BaltO & Ohio of 17 27% 27% 27% + % Bantor&Aroatk 1 30 30 30 Barker Bros le 3 27% 27 27 Barnsdall Oil 2. 2 42'* 42% 42% - % Beth Iron Wki 2 11% 11% 11% — % Bayuk Cig 1 Ha 12 20 19'* 20 ♦Beck Sh Pf 4ti 90 88% 88% 88% +1% Beech Aircraft 1 12% 12% 12% Belding-H 1.20. 2 19 19 19 +% Bell Aircraft lg 3 16% 16% 16%-% Bell & Howell H 1 21% 217* 21'*+ '* Bendlx Aviat 2 13 36% 35% 36 BndxHomeA 1H ® 16% 16% 16% — % Benef Ind 1.20a 3 26% 26% 26%+ % Best* Co 2 ... 4 28% 28% 287h+% Best Poods 2a 5 36% 36 36 — % Beth Steel 1 20b 65 37s* 37 37% - % Bigelow Sn tih 1 34% 34% 34%+ % BirmhamEl 30e 1 10% 10% 10% + % Black&Deck 2a 5 36 347* 36 +1% Blaw-Knox tie. 10 18% 18% 18% + ** Bliss* W 2 ... < 32% 32% 32%+ % Boring Alrpl le 17 26 25% 25% + % Bohn Alum 7ie. 3 32% 32% 32%+% ♦Bon Ami A 4a 30 81% 81 81 ♦Bon Ami B 2%» 70 43 42% 43 Bond Stores 2 1% 257* 25% 25% - % BordenCo 1.20e w 44 43% 43% Borg-Warner 4. 8 65’* 64% 6574+ % Boston & Me „ 5 5% 5% 5% + % Braniff Air ._ 9 9% 9% 9% + % Brldgepl Brass 4 10s* 10% 10% Briggs Manufg 2 8 34% 33% 34% + % Brlggs&Stra la 4 33 33 33 — % Bristol-My .ROe 4 32 31% 31%-% Bruns-Balke He 5 21 21 21 + % Bucyrus-Er 70e 7 21% 21% 21% Budd Co 20e 18 11 10'* 11 + % Buff Forge flOe 1 38 38 38 - % Bullard Co He 2 19 18% 19 + % Bulova Wtch 3* 4 43% 43 43% + % BurllngMills 1H 25 23% 23% 23% Burr Add M 80 42 17% 17% 17% - % Bush Term’/sf.. 1 10% 10 10 — % Butler Bros 4 13% 13% 13% — % Byers AM tie 10 27% 27 27%+% CAL PACK 2’ aa 1 +0% 40% 40**- % Cailaitan Zinc 10 2% 2% 2% Cilumet&H .10* 28 7 6'* 7 + % Cm Dry GA 80 17 12% 12% 12%+ % Cansd Pec tie 71 17% 17% 17% Cep AdrnnA ROg 3 17% 17% 17% — % CapitalAirlines 5 6% 6% 6% - % Caro Pwr & Lt 2 5 31% 31 31 + % , Carrier Coro 11 18 17% 18 + % CarrlerCorn pf2 2 38 38 38 — % carr&Gen 20a 1 8% 8% 8% i Case J 1 1 60e 14 50 49% 49%+% CaterpilTract 3 4 62 61% 61% — % Celanese Crp 1 e 24 36'* 36% 36%+ % Celotex Corn 2 11 34 33% 34 + % Cent Fnriry He 10 9s* 9% 9s* + % CentHudGas S2 5 7% 7% 7% + % Cent R R N J • 10 27% 27% 27% - % Cent Violeta He 8 12% 117* 12%+ % Cerro de Pas He 5 26% 26*4 26%+ % Certn-td Pd 80s 11 16% 17'* 18 + % Ches & Ohio 3 51 38% 38** 38%+ % Chicago Cp 80. 10 13% 13% 13% Chi&East 111 18 8*4 77* 8 Chi&East 111 A 1 e 73 15% 14s* 15%+1% Chi Great West 4 11% 11% 11%+% Cnl Grt West of 12 21% 21% 21%+% Chi Ind* LA. 3 15 14'* 15 Chi Ind A L B _ 10 9% 9% 9% ChlMUStP*P 46 12% 12% 12%+% ChlMSP&P Df4e 39 39% 39 39% + % Chi * N W Hr 14 22% 22% 22** + % Chi * N W of B 7 48 47% 48 + % ChiPneuTool le 1 36% 36% 36%+ % Chi R 1 & P 3ie 124 39% 38% 39% +1% ChiRI&PofB. 10 69 68% 69 + % Chrysler* . 22 64'* 64% 64%- % Cln G * E 1 *0 6 29 28% 29 -% cm Mill M 1 *3 4 26 25*4 25% - % C I T Finance 2 5 48*4 48% 48% + ** City Invest 60 2 8% 8% 8% — % ♦CCC&StLlO 10 176 176 176 +12% Clev El 111 1 OSe 8 41 40% 40'* Climax M I CO 14 16'* 16% 16s* + . % Clinton ind 2 40 17 28% 28% 28%+ % Clonay Corn 70 4 9 8% 8% — ** Clufctt Pbody le. 7 36% 36% 36s* Coleate-P-P 2* 7 41 407* 41 - % Collins * Aik 1 . 4 24 23% 24 + % Colonial Mills 1 7 25 24% 24% 1 Col Fuel* Ir la 148 20% 19% 20%+% Col Puel&Ir of 1 16 20% 20% 20% + % ♦Colo* South 220 17% 17% 17%+% ♦ Colo&So 1st pf 800 17% 16% 16% - % Col BrdcastA le 7 28 27% 27% - % Col BrdcastB le 3 27% 27 27 -% Columb Gas 60 59 14% 14 14% - % Colum Piet tif 3 10'* 10'* 10'* + % ColumCarbon 2a 1 36% 36% 36%+ % *.1 a.n/\ V 1) in. I 4AI1 *3 ay. Coml Credit 2 no 10 51% 50% 517*+1% Com! Solvnt Vie 6 .26% 26% 26%-% Comwl Edit 1 40 22 27% 27% 27% + % Comwl 6 South 200 3% 3% 3% - % ®m*So p!7Vik 4 101% 100% 101% + % Conde N*»t 1 10 10% 10% 10%+% Cona-Nalrn 1 Vi 10 36% 35% 36% + % Con? Con 15e 12 57* 57* 57*+ % Cons Edle 1 60 51 25% 247* 75 Cons Edison plB 2 106 106 106 + % Cons Grocer- 1 8 16% 16% 16% — % Cons Net Gas 2 5 45% 45 45% + % Cons RRCuba pi « 25 24% 25 + % Cons Vuitee 60 10** 10% 10% + % Consum Power 2 1 34% 34% 34% + % Contain Coro 2a 3 367* J6% 36% Cont Baklne 1 34 17% 16% 17%+% Cont Can »ie 8 377* 37% 37% + % Corn Dia Fiber 1 2 117* 117* 117*+% Cont Insurance? 1 58 58 58 - % Cont Motors 20 9% 9% 9% - % ContOllDel 1 Vi* 12 66% 66 66 -% Cont Steel le .. 3 18 17% 18 + % Coooer-Bess 1 4 30% 30 JO - % Coorwld Stl 1.20 11 19% 19% 19% 'CornEkch 2 80 320 56% 56% 56% - V* Corn Prod 2 70e 6 63% 63 63% + % Corn-Dub E SO 5 13% 13% 13% - % Cory Inc. _ 7 4% 4% 4% I CotJ Int 20k . 10 2% 2% *%- % Crane Co 1 60* 5 38 37% 37%-% CreamerlesAm 1 5 107* 10% 107* + % Crown Cork Vih 1 23% 23% 23% + % Crown Zel 1 80* 2 31% 31% 31% Crucible steel 5 26% 26% 26%-% Cuban-AS2',e 20 16 15% 16 + % CuaahzPack 80* 1 11% 11% 11%+ % Cuneo Preas 1 a 2 157* 157* 15% - % Curtl* Publish 165 12 11% 117* + 7* Cur Pb pr pf 3a « 59 57% 59 +2 Curtlsa-Wr Via 119 8% 8% 8% + % Curtis Wr A la 10 27% 267* 267*-% Cutlr-Hm 1 20* 4 30% 30 30%+% DANA CORP v«e 2 28% 28% 28% - % Davisn Chm la *1 28% 78 28%+ % Damn P*L 1 *0 10 31% 31% 31%+ % Decca Record Vi 20 8% 8% 8% DeepRockOU 1* 7 39% 39 39 + % Deere* Col 1+ 40% 39% 40%+1 Del & Hudson * 2 50 50 50 Del LAW Vi* 37 13% 127* IS +% Den & ROW le 2 38% 36% 36% - % Den&RGWpflOt 1 54% 54% 54% - % Detroit Ed 1.20 15 21% 21% 21% De Vilbias v«e . 3 13% 13% 13% - >4 ilevoe A 8 A Za 3 25% 25% «5% - % DtaMtcb oil Via 3 44% 43% 43% Dtst Cs-Sea 80 - 37 17% 17 17% + % Dlvco Corn 1 e _ 2 17% 17% 17% - % Dr Pepper 30* 12 15 147* 147*— H Do* Mar-Jar i % 3 38% 38% 38% Dome Mn 87*. 51 14% 14% 14% - V* Douclaa A 2V*t_ 6 59% 59 59 +1% Dow Chem %e 10 48 47% 477* + % DowCh 2d DfSVi 2 106 106 106 - V* Seles— Stock and Add • Net Dividend Rate. Oil. High. Low 3:30 ebge. Dresser Ind 1% 8 30 29% 29% + % Duolan Coro lab 3 17 16% 17 +1 Du Pont 4e 3 18816 188% 188% DuPont3iiDf3li 1 98% 98% 98%+% •Duo Llant of 6 10 114% 114% 114% + % DWG Cliar lie. 1 14% 14% 14% + Vi EAGLE-PI 1.80 8 22 21% 22 + % Eastern Air Una 10 17% 17% 17% - % East State Steel 1 19% 19% 19% - % East Kodak 1 V«s 7 43% 43% 43% + % Eaton Mis 3 2 64% 63% 64% Elat StOD N lit. 3 7% 7% 7% - % E1 Auto-Llle 3 . 6 53 52% 32% — % Elec Boat 1. . 1 14% 14% 14% - % El A Music .18s 83 2 1% 1%- % El Power * Lt 16 23% 23% 23% - % El BtoraseBtt 3 3 52% 52 52 - % ElainNatW 60a 5 15% 13% 15% Elliott Co lit 8 27% 27 27 - % Elliott cv of 2%. 1 72% 72% 72%-% ElPasoNGs 2 40 * 70% 70 70 Emer Elec M 1 3 19% 19% 19% Emer Radio .80 6 13% 13% 15% + % Endicott-J 1.60a 1 33 33 33 - % »End-Jobn of 4 10 102 102 102 +1% Eouit Ofl Bids 12 4% 4% 4% - % Erie R R 1 60 16% 16% 16% Erie R R of A 6 1 64% 64% 64% + % Evershsro %f 2 9% 9% 9% FAJARDO 2'ie. 8 29 2814 201* - % Pslstaff Brew 1. 2 23 23 23 + % Farnsworth SB 10% 10% 10% Feddera Out hO 6 15 14% 14% — % Fed MiiSmlt 2e 1 40% 40% 40*% + % Fed-Mogul 1.60 2 18 18 18 - % FedMoTruck 40s 7 10 10 10 Federal DStrs 2 2 30% 30% 30% - % Firestone T&R 4 12 52% 52 32 Firestone of 4% 2 107% 107% 107% + % First N Str 2%e 1 59% 59% 59%+ % FlrtbCtroetl 60 9 20% 19% 20 Pilntkote 2a 12 40% 39% 40 tpilntkote Df 4. 50 102 102 102 - % Florida Pow 1 2 15% 15% 15% — % Pollans Stl 1 lie 15 32% 32% 32%+ % FoodFslrSt 40b 5 11% 11% 11% - % PoodMacblli- 3 41% 41 41%+% Foster Wbeel 1 2 34% 34% 34% - % Frsnclsco Sugar 5 14% 14% 14% + % Froedt GAM *ia 2 11 11 11 PreeoortSul 2% 1 45% 45% 45% - % Fruebsuf Tra 1 3 23% 22% 22%-% 'Fruehauf T of4 20 83 82% 82% - % OAIRROBT 40 10 9% 9 9 Ggr Wood Ind . 6 9% 9% 9% — % Gar Wood of 1 44% 44% 44% + % Gaylord Com 12 23% 23% 23%+% Gen Am In? 40 9 17% 17% 17% + % : Gen AmTrns :ia 1 56% 56% 56% + % Gen Bakina 60 86 11 10% 11 + % Gen Cable lie 24 13% 13% 13%+% 'GenCable lDf 4 130 80% 60 80 -% i Gen Cab!e$2pf ? 1 41% 41% 41% +1% I Gen Cliar la ._ 2 23 23 23 + % ! Gen Elec 1 60 40 40% 40% 40% | Gen Foods 2 3 39 39 39 — % Gen tnstrumt 1 5 12% 12% 12%+% Gen Mills 2e 5 49% 48% 49 + % tGen Mill* Dl 6 10 125% 125% 125% - V* Gen Motors 3 46 64% 64% 64% — % Gen Motor Df 6 1 123% 123% 123% + % Gen Mot ol 3% i 98 98 98 - % Gen Port C'ie. 13 21% 21% 21%+% Gen Precis Eo 1 3 15% 15% 15% + % GenPubSvc .20i 3 4% 4 4 Gen Pub UtU 80 37 15 14% 15 Gen Ry Signal 1 9 25% 25% 25% + % Gen Realty&Ut. 13 5% 5% 5% + % Gen Retract le. 6 30% 29% 29%+ % Gen Shoe 2% 1 27% 27% 27%+ % ♦GfbStlC Df4'/ak 40 128 127 128 + % Gen Teleob V 5 25% 25% 25% - % Gen TInst 1,60a 4 27 27 27 +% Gen Tlre&R la 13 27% 27 27 - % Gillette Sal 2 %a 1 35% 35% 35%+% Glmbel Bros 2 13 21% 21% 21% - % GllddenCo 1 40a 8 26% 26 26% GoebelBrew ,10a 4 5% 5% 5% Goodall-Sn 1 Via 2 22% 22% 22%-% Goodrich BF 2e 4 62% 61% 62% - % GoodyearT&R 4 20 45% 44% 44%+ % Goodyear Df 5 . 1 103 103 103 +1 Goth Hos 1.60a 4 21 20% 20%-% Graham-Palge 14 4% 4% «% — % GraniteC Stl lie 7 32% 32% 32% + % Grant <W1 > 1 a 10 2b 28% 28%-% GraysonRob lie 2 13% 13% 13% + % Grayson Dl 2li- 1 38 38 38 +1 GtNIOrctllii 7 14% 14% 14% Gt Nor Ry nl 3 17 47% 47 47 - % GtWstSug 1 60a 6 21% 21% 21% - % Green HL 2a.. 3 39 38 39 +1% Gi-evhound 1 49 12% 12% 12%+ % Grumman !h 44 25% 25 2514+ % i Guantan Sug le 20 7% 7% 7%+ % Gulf Mob&O Ha 18 19% 19% 19% GulfMo&Ob pf5 1 36% 56% 56%-1 Gulf 011 3_ 18 78% 77% 78%+ % Gulf Sta UtU 1. 19 18% 18% 18%-% HALL PRINT la 1 15% 15% 15% - % Harb-Walker le 9 26% 26% 26% + ,% Hayes Mil 4Be. 21 11% 11 11 +% Haiel-Atl 1 20a. 11 22% 22% 22% - % HechtCoi eO . 2 27% 27% 27%+ % Hfrcul Pwd ,70a 2 53% 53% 53% + % Heyden Chem 1. 12 25% 25 251* + % Hires CE 1.20 . 1 21 21 21 + % Holland Furn 2. 3 29 28% 28%- % Holly Sugar 1 . 12 29% 29 29 - % HomestI Min 2 7 37% 37% 37% + % Hooker Elec .80e 5 35% 35 35%+ % Houo-Hersh lis 10 16% 16% 16% - % Houston Oil le * 36% 35% 35% — % Hwrd Store Ilia 1 21% 21% 21% - % Hudson A Man 5 5% 5% 5% + % Hudson &Mpf. 1 12 12 12 + % Hudson Bay 4 . 4 44% 441% 44% - % HudsonMot 40a 20 21% 20% 20% - % HUODCorn *4 4% 4 4 — % HsmanRfgr ,86e 1 13% 13% 13% + % IDAHO PW 1 80 3 34% 34% 34% III cantral ... 26 42%» 41% 42%+ % 111 Cent of 3t._. 1 87% 87% 87%+1% Illinois Power 2. 16 26% 26% 261* Ind Pr & Lt 1 %. 2 24% 24% 24% + % Indust Rayon 8. * 51 50% 50% + % Inlaid Steal la. 7 44% 44% 44% Insolrat Cop le. 5 20% 20% 20%+ % intercoD Rub 7 3% 3 3% + % Interlakelr .60e 16 15% 15% 15%+ % Lnt Bus Mach 4 . 2 143% 143% 143% + % IntHarvst 1.40. 54 34 33% 34 + % lnt Hydro El A. 5 8% 8% 8%-% lnt MACh 1.60 12 36% 35% 36%+1% lnt Mining .53 4% 4% + % lnt Nickel 1.60. 56 32% 32% 32%+ % lot Paper 4a .. 17 62% 62 62 — % lnt Ry Cen Am 3 11% 11% 11% + % LlntRCA Pf3lik 10 93 93 93 + % lnt Salt 1 %e — 4 61 60 60 - % lnt Shoe 2lia... 1 43% 43% 43%+ % lnt Silver 44_ 6 65% 64% 65 lnt Tel* Tel _. 32 16% 13% 15'+ lnt T&T forn et 4 16% 15% 15% - % Inter Deo 8trs 2 1 25% 23% 23%+1 Intertyne 1.20e 9 34 33% 34 + % IsCrkCoal 1.36b 1 38% 38% 38%-% JACOBS FL 2 8% 8% 8% tJerCntP&L of4 60 83% 84% 84% + % 'Jewel T Df 311 90 98% 98% 98%+ % Johns-Man 70e 17 38% 38 38% + % Jones & L Stl 2 54 37% 37 37%+% Jones & L pfA 6 1 88% 88% 88% + % Joy Man ft 2 40a 3 39% 39% 39% - % Kan City South 8 43% 45% 43%+ % Kan City So of4 2 59% 59% 59% - % KayserJla .. 2 16 16 16 — % Kelsev-H A1%. 7 26 26 26 +1 Kelsey-HaBllif 6 22% 22% 22%+ % Kennecott llio. 41 60 59% 59% Kern Landl%* 9 48% 48 48 + % Klmbrly Cl 1.40 16 21% 21 21% + % 'Klmb-Clrk of 4 30 103% 103% 103% 'Kinney Df 5.. - 20 68% 68% 68% + % KODDCrs Co 1.60 3 35% 33% 35% Kreage 8 8 la.. 3 37% 37% 37% - % Kraxa 8 H 2a . 2 58% 58% 58% + % Kroger Co 2.40 1 44% 441+ 44%- % LACLEDE G 20 10 6% 6% 6% La Coni pf SS 5 9% 6 9% + % Lambert Co 1%. 2 22% 22% 22%+% Lana Bryant 1 2 13 13 13 - % Lane Walla 1 60 4 29% 29% 29% Lehigh C & N 1 10 13 12% 12% - % LehPoitCem Hi 3 34% 34% 34%+% Leh Val Coal 36 4% 4% 4% Leh V Coal lof3 10 25% 23% 23% + % Leh V Coal2ofVj 1 10 10 10 Leb Valias R R. 12 8 7% 7% - % Lehman 3.20e . 18 51% 51 31%+ % Lehn&Flnk lie. 1 10% 10% 10%+% Leroer 8tra lli 3 23 24% 23 Ub-O-F Glass 2 1 35% 33% 35% - % Ub McN&L lit 17 10% 10 10% + % Life 8ayers 80e 1 37% 37% 37% + % Ltg* CUMI • oov* BOV* BOW + % run A My Of 7 50 169 169 169 -1% LimaHaml) «0 21 12% 12% 12%+ % Link-Belt 3Vie.. 3 68% 68% 68%+ % Lion 011 3_ 8 *0% 50% 50%+ % Liquid Carbn 1_ 1 19% 19% 19% + % Lockheed Vat... 8 22% 22% 22% Loew'a Inc 1 Vi 32 17% 17% 17% Lone8tarCe8Via 5 63% 63 63%+ % Long-Bell A 80k 1* 30% 29% 30% + % LorUltrd PI. 8 19% 19% 19% + % Lou OAK A 1 Vi 1 24% 24% 24% LoulavilAN 3 53 4 47% 47% 47%-% Lowensteln 2a_. • 34% 3-* 34% + % Lukena Stl 40a 1 22% 22% 22% - % Mack Truck Vih 18 25% 25% 25% - % Macy R H 2_ 5 37% 37% 37% + % Magnavox 1. 3 16% 16% 16% — % Manati Sug 1 Vi* 10 10% 9% 10% + % MaracOU 10* 12 12 12% 12%+ % Marathon Cro 1 2 22% 22% 22% — % MarlneMldi 40* 20 7% 7% 7% + % 'Mark St Ry or 50 17 17 17 + % Marsh Field 2. 21 26% 26% 26%+% Martin OL.. 3 17% 17% 17% - % MartlnParrv 00 3 17% 17 17% + % Master Elec 2.40 3 25% 25% 25% - % MethChem 1 Via 29 39% 37% 38%+1% 'Math Chem oI7 20 172% 172% 172% Mav Deot Str 3 4 46% 46 46 tMayta* 1st of6 10 111% 111% 111% McCroryS 1.40a 1 32% 32% 32% Mclntxra 2.01a 20 si 50 50%+ % McKessAJt 2.40 8 34 33% 34 + % McLellan Str la 3 24 24 24 Mead Com le.. 2 20% 20% 20% Melville Sh I 80 5 23% 23% 23% - % Mental Co la . 5 17% 17% 17% + % Mercant Str* 1 1 18% 18% 18% MerAMlnTr 40a 1 9% 9% 9% + % MerckACo2.40a * 63% 63% 63% Mesta Mach 2Vi 1 44% 44% 44%+ % Mld-ConPet 1 %4 12 63 62% 62%+ % Mid! Stl Prod la 1 46% 46% 46%+ % Mlnn-Bon R* 2a 5 45% 45% 45% + % 'Minn H Dl 3 20180 92 90% 92 +2% Minn Molina 33 18% 18 18% + % Minn A St L Vie 1 1«% 14% 14% + % M8PASSMA1* 7 13% 13 13%+ % I Minn Mm A M 1 1 68% 68% 68% + Vi 'Minn MAM 0(4 40 104% 104% 104% + % Mission Corn la 1 69% 69% 69% — % Mo-Kan-Texaa 116 8% 8% 8% + % Mo-Kan-Tex of 84 29% 78% 29%+1% Mohawk Cmt 2a 3 41% 41% 41%+ % Molnd Hoi 80a 13 14% 13% 13% - % Monsanto Cb S 7 59% 58% 59% -1 Mon Cb Di E 4 1112 112 112 Mont* Ward 2s 18 58% 58% 58% - % M-McC Lin I Via » 16% 16 16% Motor Prod 1 Via 1 28% 28% 28% + % Motor Whl 80a. 1 21% 21% 21% + % Motorola Vie 4 18% 18% 18% Mtie. iei Bra 60a 1 20% 20% 20%-% Mullins MI* la 6 33 32% 32%-% Mumhy GC1 Via 1 44% 44% 44%+% ♦Murohy of 4%. 50109 109 109 - % Murray Core I 2 15%' 15% 15% — % MurrayCorp p!2 1 42 42 42 —1 K|]i> i Stock and Add _ __ >d Dividend Rat* 00 Sikh. Low 3:80. eh*« NASH-KEL 70* 19 20*9 20% 20% - % 'NasbCAStLl* 1 *7% *7 27%+ % Net Airline* 1 8% 8% 8% Nat Auto Pt .55* 7 13% 13 13 - % Nat Aviat .15e 3 14 13% 13% - % Nat Bat try l»4e 3 44% 44% 44% - % NatBlacultl 80a 11 29% 29% 29% NatBondA8 60a 1 23% 23% 23% - % Nat Can 3 8% 8% 8% Nat C Rea 1 >/,e 4 46% 46 46 - % Nat Cltv Line % 3 7% 7% 7%+% NatContatn 1 SO 10 12% 12 12% + % NatCvlGaa *0 * 12% 12% 12% - % Nat Dalrv 1 60 12 31 30% 30% - % Nat Dent Stria 5 18% 18% 18%+% Nat Distillers 2 33 19% 19% 19% + % Nat Gypsum H» 17 19 18% 18% tNat Gyp pf 4% 120 94% 94 94%+ % Nat Lead la 11 38% 36 36% + % tNat Lead pfA 7 10 173 175 175 tNat Lead efB 6 20 143% 143% 143% Nat Linen 6 00 2 6% 6% 6% + % NatPowAL ~ 3 HI. +U *4* - %» Nat Steel 4_ 7 101% 101 101% +1 | Nat Supply 1 20 24% 24% 24%+ % ' tNat Sup pf 4% 10 88% 88% 88%-% Nat Tea 1 % .. 1 27% 27% 27% - % Natoma* Co 1 3 11% 11 11% NelsnerBro 80s 1 18 18 18 N En* Ei Syst 1 14 11% 11% 11% Newmont M 1 >41 4 64 62% 64 +1 Newot Indust 7 3 22% 22 22% - % Newer NewsS 2s 1 28% 28% 28% + % N Y Cent R R 108 18% 18% 18% + % N Y Chi A 8t L 7 92 89% 91% +1% N Y CAStL Pf9k 5 143% 141 143% +3% NYC Omnibus 3 19% 19 19% - % N Y N H A Hart 31 14% 14% 14% + % NYNHAHof 8 39% 39 39 - % tNYPAL Df 8 90 10 92% 92% 92% - % Noblitt-Snk 1.60 3 24% 28% 24%-% NopcoCh.80*. 1 33 33. 33 NorfAWeatern 2 7 61% 61% 61% No Am Aelatlon 26 11% 11% 11% — % Nortb Am Co %b 12 16% 16% 16% + % NorNalGa* 80* 17 34% 34 34% + % Nortb Pacific 1* 27 26% 26% 26% + % tNoStPw pf3 60 70 83 83 83 Northwest Airl 5 14% 13% 13% — % NrthwAlr ofl 1ft 7 24% 23% 23%-% tOHI ED pf4.40 40 99% 99% 99% Ohio Oil la * 40% 40% 40% - % OliverCorp 1 V«* 5 36 35% 36 + % tOliver of 4% 80 109% 109% 109% + % Omnibus Cp ‘A* 10 11% 11% 11% — % 'Omnibus of 8 60 95 95 95 +1 Otis Elev l’/je _ 20 36% 36% 36%+ % toils Elev ol 0 10152 152 152 Outbrd Mot .70* 1 le 18 18 + % Owens Hi Ul 8 11 55 54% 55 + % PAC AM PSH1 • 4 15% 13% 13% + % tPAC COAST 1 . 20 13% 13% 13% + % Pac Uas A Elc * 14 34% 34% 34% Pac Lighting 3 3 54*4 54% 54*4 - % Pac Mills 3b 3 38% 38 38 + % tPacTelAT 2%ell0 100% 100% 100% Pac Tin Con* 1 5% 5*4 5% + %; Pac West Oil tie 5 57 56% 57 +1 Packard M 15e 90 5% 5% 5% Pan Am Air tie. 31 10*4 10*4 10*4 + >4 Ranh KPLo 6 62\i 614 614-4 Panh P & R .30 11 104 10*4 104 Paraf Coa 60h. 2 27 27 27 + *4 Param Piet 2 27 234 23*4 234+4 ParkiTllford 3 1 45 45 45 Parke Dav 1.05a 7 2#>4 294 294+4 Parker Rust 24 1 294 294 294 - ‘4 Parm Tran« .80 1 94 94 94 - *4 Patino Min Ilia * 14*4 14*4 14*4+4 Pen dr Ford .80e 3 32*4 32 32*4 + >4 Penney < JC> 2a 6 474 47*4 474 + 4 PennCoaliC 4a 1 13*4 13*4 13*4 + >4 Penn-DxCem Via 19 19*4 19 19*4 + 4 Penn P&L 1.20 14 194 1914 194 - *4 Penn RR tie 121 214 214 214+ >4 PeopGasLt 4tie. 3 95 *44 95 +2 Peoria ds Eastrn 1 174 174 174 + 4 Pepsi-Cola 30e 157 144 14 14 — *4 Petrol Corn .30e 3 15*4 15*4 154 + *4 PleifferBrw 70s 1 17*4 17*4 17*4 Pfizer CdrCo 2a 5 644 64 64 Phelps Dodg 3e 24 584 58*4 564 + *4 'Phil C 67. of 3 40 53 S3 53 'Phil Co S6 pf 6 60 100 100 100 +4 Phils Elec 1.20 13 24*4 23*4 24 'Phila El of4 40 10 lil'4 111*4 111*4 - *4 'PhlE14.3pf4.30 50 1074 107*4 1074 - ‘4 Phil Elec Df3 80 3 994 99*4 99*4 -1 .Phila El SI Pfl 1 23*4 23*4 23*4 PhildtRdg C&I 2 9 19*4 194 194+ *4 Philco Corp 2.. 20 4«4 44 444+ ‘4 'Phllco of 34. _ 60 90*4 90 90 -1 Philip Mori 4a 45 324 32 324+ >4 PhllllpsJones le 1 43 43 43 +1 Phillips Petrol 3 9 76*4 75*4 754 - 4 PittCok&Ch 60s 4 144 14*4 14*4 Pitt Con Coal 2. 5 35*4 354 35*4+ ‘4 Pitts Forg.lie . 1 224 224 224 PittPlateGls 4* » 354 35*4 35*4 - >4 Pitts Screw 30e 19 9 9 Pitts Steel 2 184 184 184 'PlttStBpfiyyk 40 91*4 91*4 91*4+ *4 'Pitts or of 6*4 20 78*4 78*4 78*4 Plttston Co 2_ 11 444 44 44*4+ ‘4 Plym Oil 90e._. 2 61*4 «i *1*4-4 Poor 4 Co B la 2 15*4 15*4 15*4 + *4 Pot Elec Pwr 90104 14*4 134 14*4 + 4 Pressed Stl Car 3 10*4 10*4 10*4- 14 Proct d£ Gam 3a 12 6814 68 68 —14 PubSrcCol 2.20 2 394 394 394+ 4 Pub Svc E£G 4 23*4 23*4 23*4 Pub Svc EdrG pf 16 28*4 284 284 - ‘4 Publicker 41... 30 234 22*4 234+1*4 Pullman le_ 8 45 444 45 Pure Oil la 20 39*4 39 39 + 4 PurltvBak 2.40a 16 32*4 314 32*4 +14 RADIO CRP.80a 100 144 14*4 14*4 + *4 Radio Cp of 3ti 4 72*4 714 72*4 - >4 Radlo-K-O ,«5e 10 84 8*4 8*4- 4 'RR 8ee I C Stk 230 37*4 37*4 37*4 + *4 Rayonier 4a... 2 324 32*4 32*4 - >4 Reading Cole 25 274 274 274+ *4 'Real Silk H nf7 10 105*4 105*4 105*4 +2*4 Reeves Broa la. 2 144 14*4 144 RellableStl 60a 2 234 23*4 23*4 Rem Rand lb 27 134 134 1314 Reo Motor! 2Via 6 234 234 234 + 4 Ren Aviation 27 11*4 10*4 104 - 4 Repub Piet of 1. * 94 94 94 + ‘4 Reoub Steal ta. 40 31*4 31*4 31*4+ *4 Revere CdtBl. 3 184 184 18*4+ *4 Rsxall Drug . 39 74 7*4 7*4-4 Reyn Metals lie 5 25*4 254 254 - 4 Reynolds Spring 1 10*4 10*4 10*4 'Reyn Tob .90e. 20 47 47 47 Reyn Tob B .90# 39 364 354 354 — 4 KheetrMfal 60. #1 22*4 22*4 22*4 Richfield 011 2 - 3* 441* 434 434 - 4 Roan A Con .33# 5 54 5*4 54 Rob-Ful Con 4e 20 12 114 114+ 4 RbtshFlpfl 184 * 29*4 29 29 - >4 RoyalType 1 60a 3 244 234 24*4 + 4 SAFEWAT 8T 1 3 194 194 194 - 4 '8afeway pf 5 60 1114 111 1114-4 St Jos Ltad Ilia 7 564 55*4 564+1 3tL San Fran 54 164 154 164+4 St L San F pi 8 14 46*4 464 464 St Regis Psp 60 35 124 124 1214 + 4 3av Arms lie . 12 144 144 144 SchenleyDIstll 2 5* jz% alia sz% + i Scranton Klee 1 3 15% 15% 15% — % Seab Air Line 10 25% 25% 25% - % SeabdALpf 7 lie 1 59% 59% 59% + % 8eab Fin l.lOe II 1714 17% 17%-% Seabrd 011 1.60 1 55 55 55 Sears Roebck la 30 41% 41% 41% — % Seeaer RlkT .60e 5 12% 12% 12% + % Serve! Inc .30a 4 13% 13% 13% ShamrockO 1.60 17 35% 34 34 —1% Sharon Steel 2 28 43% 42% 43%+1% Sharp* Dob 1. 11 26% 26 26 - % Shell Dn Oil le 16 44 42% 44 + % Sheraton Cp .40 20 6% 6% 6% + % Silver Kins Col. 11 5% 5% 5% Simmons Co la. 1 33% 33% 33% + % Sinclair 011 2... 55 29% 29% 29%+ % Slcelly Oil 2lie 2 152 151 151 Sloas-ShStI 80* 2 23% 23% 23%+ % Smith AO lih .. 1 33 33 33 + % Smith&Sons 2a. 1 37% 37% 37% Socony-Vac 1 86 21 20% 21 + % Solvay AM pf 4. 1 103% 103% 103% So Caro E*G % 24 8 7% 8 SCE*Gcvpf2ti 2 57 57 57 + % So P RicoS Re 3 41% 41% 41%+ % BeasiGreyL 1.60 * 14% 14% 14% Sou Cal Edla 1 % 4 30% 30% 30% - % Sou Nat Gas 1% 25 30 29% 30 + % Southern Par 4 36 62% 62 62% Southern Rwy * 8 50% 49% 49% + % Southern Ry PI5 1 69% 69% 69% + % Soarks-W .20*.. » 7% 7% 7% Spear * Co_ 2 7% 7% 7% — % Spencer Kell 2-. 2 26% 26% 26%+ % Sperry Corn 8 _. • 50 29% 30 Soiesel Inc 6 12 11% 11% — % Square D Co lie 3 21% 21% 21% Squibb * Son* 1 1 26 26 26 Stand Branda 2 16 28% 28 28% — % Std Brand p!3% 2 89 89 89 +1 Std US*El S4pf 6 26 25% 25% + % Std GaftEl S8 or 2 104% 103% 104% - % Std Oil Calif Se. 6 72% 72 72 Std Oil Ind 2a 10 50% 50% 50% Std Oil N Jer lb 58 87 86% 86% - % 9*d OilOhlo 1 % 10 33% 33 33 Std Stl Spra lie 5 14% 14% 14% SterchlBr St la. 1 14% 14% 14% + % SterUnaDrueS. 5 37% 36% 37%+ % Stevens JP 2a . 5 34 33% 34 + % Stewart-Warli* 2 15% 15% 15% Stok-V Camp 1. 2 15% 15% 15% — % Slone*Web lie. 5 17% 17% 17% — % Studebaker >ie. 32 28% 28 28% + % SunChem-60.- 8 9% 9% 9% Sun Oil lb 10 68% 68% 68% - % tSun Oil pfA4Va 10 119% 119% 119% + % Sunray Oil 80 94 14% 14 14*% + % Sunray pfA 1.06 3 20% 20 20%+% Suniav pf B 11* 22 24% 24 24%+% Sunshine Blsc 8 10 42% 42 42% +1 Sunshine M 60 10 10% 10% 10% Superheater la. 3 27% 27 27 + % SUP Oi. Calif 2e 1 232 232 232 +1 Superior Stl la- 2 18% 18% 18% - % Sutherld Pap "a 1 42% 42% 42% SwlftftCo 1 60a 3 34% 34% 34% - % Swift Inti ,10e 14 16% 161% 16% + % Sylvan Elec 1 40 11 23% 23% 23%+% Symine-Gld lie * 7% 7% 7% + % TKLADTOGRPH 1 5% 5% 5% + % TennCorp l.IRe 5 18% 18 18%+ % Texas Cob. . 24 65% 65 65 TexOulfPro .SRe 17 24% 24% 24%+ % Tex Gulf 8a! 2a 27 70 69% 70 + % Tex Pae CAO la 11 50% 50 50% TexPacLT 70* 4 42 42 42 - % Tex * Pae Ry 6. 1 62 62 62 + % Textron la 12 16% 16 16% + % Thatch QM .30* 5 8% 8% 8% + % Thermold %f 2 9 8% 9 + % ♦Thermod pf2% 50 41% 41% 41% ThomasStl 1 «0a 9 23% 23 23% + % Thom* Prod Hie 5 55% 55% 55%+% Thomp*on-8tar 15 3% 3% 3% Thom-Starr pf 2 28% 28% 28% — % Tide W Oil 120a 36 31% 30% 30% - % ♦Tide Wat ofS3i 30 104% 104% 1C4% + % Timk-D Axle 1* 2 22% 22% 22% + % Tlmk Bear lli*. 10 51 50% 51 +1 Transamer tka. 6 12% 127% 12% - % Trans * W Air * 14% 14% 14% + % Tri-Con CP tie 22 10*% 10 10 Truax-Tra 1 20 4 18% 18% 18% - % Twent C-Pox 2. 10 21% 21% 21%+ % Twin City R Tr. 2 7% 7% 7% Twin Coach_ 3 11% 11% 11% UDYLITE 1 4 11% 11 11% Underwood lli* 3 57% 57% 57%-% Dn Asb * Rub 1 2 15% 15% 15% Onion Bax *a 12 36% 36 38% Dn Carbide tin 59 43 42% 42% - % ♦On El llo nf 4% 150 109 108% 109 +% Dn Oil Cal 1.32* 37 38% 38% 38%+ % Dnion Pacific' 14 96 95% 96 + % Dnion Pacific pf 3 51 50% 50% — % OuTankCar *.80 * *0% 40% 40% Unit Air Line*— 11 14% 14% 14% + % Stocks Edge Higher, But Demand Wanes After Brisk Start Sy the Associated Pross NEW YORK, July 12 —The stock market resumed its advance today but the strong driving power that appeared at the opening of trade soon waned. Top gains were trimmed in a number of cases and some issues drifted to the minus column. Advances ranged from fraction to a point or so. with many issues establishing new highs for the year or more. The market generally was at a 22-month peak. Rails and steels got the biggest play. Bethlehem Steel, however, refused to go along and appeared with a small loss. Among the gainers were Nickel Plate Railroad. United States Steel, Pennsylvania. Northern Pacific, Bal timore & Ohio, Chicago & Eastern Illinois “A,” Atlantic Coast Line, Youngstown Sheet, Goodyear, J. I Case, Douglas Aircraft, Curtis Pub lishing, Pacific Western Oil and Standard Oil of New Jersey. A bit on the shaky side were Gen eral Motors, Chrysler, Goodrich, Montgomery Ward, American Tele phone, Anaconda Copper and West ern Union. Railroad bonds also tended to slip after early improvement. United I States Governments held steady. - Chicago Grain i CHICAGO. July l? <JP[.—Corn staged a sood rally on the Board of Trade to day. The crop outlook was as splendid as ever, but selling had dried up. Cov ering by previous short sellers sent prices up more than 3 cents al times and j brought July above the $2 mark again. I Oats also were Arm. although gams were not as large as in corn. Both corn and oats were aided by good demand for | rhe cash grain here. Wheat started off a little lower, but recovered quickly and held above the previous close for the rest of the session. Gains were small. Wheat closed % lower to % higher, July 2.39-2.28%; Corn was %-4% higher. July 2.03%-%; oats were %-% higher. July 90%-%. and soybeans were 3%-5% lower. July 3.96%. Trading in rye started here today. December closed at 1.93%. and May at 1.94. both off from opening quotations. Price changes are limited to 10. up or down, from the previous day’s close. , Chicago Cash Market. Wheat—No. 2 red. 2.30%: No. 2 hard. 2.30%: No. 2 vellow. hard. 2.30%-%. Corn. No. 1 yellow. 2.07-.08%: No. 2. 2.07- 08; sample grade. 1.92%. Gats, No 1 heavy white. 1.03%; No. t white. 1.02%; No. 2 white. 95: No. 1 heavy special red. 1.02. Barley nominal— Malting. 1.60-75, feed. 1.20-55. Soy beans. none. _ Market Averages STOCKS. 30 15 15, SO Indst. Ralls Util. Stks. Net change _ +.1 —.3 unc. --.1 Today noon_97.8 48.2 42.2 72.5 Prev day... 97.7 47.9 42.2 72.4 Week ago_ 9«.» 47.3 42.0 74.8 Month, ago_9R.3 44.8 42.. <1.5 Year ago___95.9 35.8 43.4 07., 1948 high _ 98.7 4,.9 42.3 <2.4 1948 low _S3.3 34.2 38.0 80.3 BONDS. 3<l 10 10 10 10 Low Ralls Indst. Util. Pgn. Yield. Net change :-.l unc. unc. unc. unc. Today noon 92.fi 101.2 101.0 82.8 109.1 Prev. day 92.5 101.2 101.0 82.8 109.1 Week ago 92.5 101.2 100.7 82.3 109.fi Month ago- 93.7 101.7 101.8 82.5 110.3 Yegr ago . 93.fi 103.fi 105.7 72.0 114.8 1948 high. 93.7 101.8 102.0 08.9 110.8 1948 low 87.7 99.8 98.0 80.2 107.2 (Complied by the Atioelated Press.) New York Cotton NEW YORK. July 12 opt.—Cotton fu tures turned Irregular today following early weakness. The market started off easy on nearby July liquidation, following the issuance of 30 July transferable notices. Some light hedging was also in evidence again^. early moving new crop cotton In Texas. Later, mill buying and short covering met only limited offerings, and the market rallied. There was some buying in the new crop deliveries which are selling not far above the expected loan on the next cotton crop. . .. . Washington advices Indicated that the ECA cotton export program is still some what confused over such matters as pro cedure for reviewing prices on export con tracts. Late afternoon prices were 3fi cent* a bale higher to 16 cents lower than the previous close. Julv 34.86. October 32.27 and December 32.10. Consolidated Vultee Corp. an nounced the resignation of Harry Woodhead from the board of direc i tors due to reasons of health. He I was succeeded by La Motte Cohu as i president recently. __ Sales— Stock and Add Net Dividend Rate 00. Hlkh. Low 2:30. eh*e Onlt Alrcreft le 19 295* 29V* 29V*- V* Otd Aircraft of# 1109V* 109>/i 109'/* + '* Onlt Biscuit la 7 2H* 20V» 21',* + V* Ot Board&C Vie 1 12Vi 12V* 12'/* - >/* Onlt Carbon 2 11 35*/i 34'/* 35V* + IV* Onlt Clear Whal 26 4V* 4V* 4'/* Onlted Coro *3 JVi 3V* J'/i Onlt Coro of * 2 46V* 46 46V* + V* tot Dye of 3>,jk 10 77 77 77 + V* Otd Elec Coal 1 2 255* 25V* 25V* - V* Onlted Fruit 2a 23 53V* S3V* 53V* + V* OtdQasImp 1.30 1 22 22 22 UnltMAMla 4 17 165* 165*- V* US&F Bee 1.35k 3 31 305* 305*- V* 0 8 Gypeum 3 5 109V* 108V* 108Vi - V* '08 Gypsm of 7 10179 179 179 +2V* OS Hoff Mch Vii 2 13'/* 13V* 13V* - V* O S Ind Chm 2e 8 37V* 37 37V* + V* 0 S Lines 2 Vi 13 16V* lSVi 16V* + V* OS Ploe&F 2.80- 8 53 52V* 33 +1 0 8 PlayCd 2a- 1 37 37 97 -1 O S Plywood la- 7 33'A 34V* 35V* + V* O 8 Rubber 3*- 7 48V* 48'/. 48*/« - V* O 8 steel 2Vi*„ 75 83V* 82V* S3 + H OS Steel of 7 .. 2 139V4 139 139'/.+ V* 0 STobac 1 20 6 185* 18V* 18V* Otd StkTdl .408 3 3V4 SVA 5V* Ot 8trs2d of Vie 2 10V* 10V4 10V* - V* Otd Walloao V*« 11 9V* 5V* 5V* Onlv Lab 2 8Vi 8V4 8Vi Only Picture! 1. 6 12 11V* 17 rOniv Pic of 4V4 150 64 64 64 — '* VAN NORM V*e. 1 13V* 13V* 13V* + V* Vanadium Vie . 3 23'* 23 23 — V* Vertient-C 8 2a 23 145* 14V* 14V* Vick Chem 1.20 2 24V4 23V* 24V* Victor Chm .80e 2 45'/* 43 43 - V* Va CarollnChem 34 14V* 14V* 14V* + Vi Va-CChmpf4Vik 1 1245* 1245* 1245* +15* Va El&Pwr 1 20 25 17Vi 17V* 17V* *Va B & P of 6 40 115Vi 115>/k 115>/k Va Ral) of 1 Vi .. 1 32V* 32V* 32V* - V* Visklnc Coro 2 . 1 36'* 36V* 36VA — '* tVulcan-D .90e 10 30 30 30 - V4 Walker Hlr 1 Via 2 23 23 25 + Vi Walworth .40e- 7 12V* 12 12 Ward Bak ,30e- 13 16V* 155* 16V* + V* Warner Broe 1— • HV* HV* 11V* Warren Pndrf - 3 28VA 28 28V* +1 Warren Pet 80. 2 29V* 29V* 29V*- V* Wash GasLt lVi 3 27 27 27 Webster Tobac 3 6V* 6 6V* Wesson OH 2Vie 2 625* 625* 625* + V* 'Wesson OH pf4 120 83'/* 85 . 83 — V* Wst Iud8uilV*6 37 23V* 22V* 23V4 + 5* W Penn Cite Vie 21 19V* 19 19 — V* 'W PenPw of4V* 30 110V* UOV* 110** + V. WVaC&C 70* 33 22V* 21V* 22V*+1'* WVt Pulo&P la 1 495* 495* 49?*— V* tWVaP&P of4 Vi 20 108'* 108 108 -1 WesternAlr Lina 3 8V* 8V* 8V4 Western Md 19 16 15V* 19V* — V* | West Md 2nd Of. 11 38V* 37V4 38 +1V4 west Pacific 3 . 3 35V* 33'* 35V* - V. West On Tel 1#- 18 *9 2JV» 22V* - *» West Air Brk 2. 12 3SV* 38V* 38V* - V* Was Bins Bee 1 16 305* 30V* 30V* 'Wst El Of A 8V* 50 92 91'/* 91V*-IV* WstniBOfB3.80 1 90V* 98V4 98V* + Vi Westvaco 1.40.. 6 48 47V* 47V* + V* ♦WStTSCO pf3V*. 90 94 94 94 - V* Wheel Steel 2 25 96 54% 96 +1 % 'Wheelstl orofS 40 07V* 0/ 87Vt + V* Whit# Dent lVia 1 »V* 29V* 2*Vi - V* White Mot 1.60. 1 22V* 22V* 22V*- V* White Sewing M 10 21V* 21V* 21V* - V* tWhlte 8 M Of 4 1990 117V* 116V* 117V* +V* WhlteSewM pr2. 2 29V4 29V* 29V* - V* WUooxOU ,40a- • 17V* 17V* 17V* + V* WlUys-Oeerland 20 11V* 11 11 — V* Wllson&ColVi. 1* 19V* 19V* 15V*- * Wise B** Pvr l. 14% 14% 14% + % Woodward Ir 2- 1 37V* 37V* 37V* + V* Woolworth 2a . 1# 48V* 47V* 46 - V* Wor PAM V*h. 3 22V* «V* «*+ + V* 'WPMcrpnsf*** »® **V* BOV* BBV* wrlgler w Jr 8a WrandWor .40a 1 1044 10V* 10V4 + V* YALE&TWN Vie 1 31V* 31V* 31V* + V* ySTco^VA 4 13V* 1>V* 15 V* + v* YoungSor&W 1 3 23 22?* 22?*- V* Young 8h*T 4a 17 67V* 67 67 + V* TncstStlDoor \6 • 14 14% !• ▼ % £5?raRlV4. 20 33 34V* 34V* Ionite Prod 10* 6 5V* 9V* S>+ ■early 6al*» *a_«ha Eaeaaag# Tadar: 'iss aas'srs ss JavLasa^yffs jus»' under tb# lankruotcy Act. or a*ejirltl*j assumed by such companies. Rata* of dividend* In the foregolngtahleareannual disbursements baaed on the last quarterly or semi-annual declaration, (mas other with noted, special or extra dividends ore i ?ot tncl^d x»iSind«id grJb rl*hu a Also extra or extras b Plus stock dlri dend. d Cash or stock a Dads red or paid to far UUs rear. f Payable in stock. **M USSSSS £ Sdkffifss N. Y. Bond Market "'?£&& ah*srshar* NEW YORK CUT 3a 80 104V* FOREION 2:5-0 Australia 5a 55 1015* Be latum 6V*s49 100V* Braz 3Vis 3 ser- 94V* Canada 4s 80 .1095* Chile 6s eoasd 265* Denmark 6s 42 03 Minas G6V*sS9 32V* Peru 2nd 6a 61 _ 16 Ursa al 4Vis 79 77 DOMESTIC 2-:«! Allis Chalm2s66 90V* AmlF P 5s2030 961* Am 24isd? 113'* Am TAcT 2>is61 1061* AmTobacco3s621025* AmTobaeco3s691025* A T 8 P 4s 95 1225* Atl Dot Ist4a48 485* Atl Dnv2n(14s48 32V* Balt&Oh 5s7SB 93V* BaltAcOb 5s95G 685* B&O cv 4Va2010 995* BaltAcOh 4s76A 91V* Beth Stl 254s 70 98V* Can Nat5s69Octl075* Can Pae 4s pern 99 Caro CAcO 4s 65 108 Cent Oa 5a 59C 13V* Cent Ga cn5 4 5 745* Cent Ga 4a95 at 705* Cent Galst5s45 82V* Cn RR NJ 5s 87 745* ChlAcE I inc 97 48 COW 4'/aS 2038 79 CM8tP4 V*a2044 60V* C II 8t P 4s 94 109 ChlAcNW 4V4s99 69 CR2Pln4V*s2019 865* CCCBtL 4V4s 77 74V* CleT*DT4Vaa77 104 Col Ac So 4V*s80 99 Col GAVE 3V*s71101 Comwl Ed 3a 77 102V* Cons Ed ev 3s63110V* Cons Ed 2Vis 82 97 Del LkAcW In ft3 66 D*R In 4i*2018 70 DetTAcIr23is76- 84 Erie 4 Vis 2015 725* Fla E Cst 6s 74 61V* Gt Nor 5 Vis 62 1105* Q MAcO 2044 B e»V* Hud Coal 6s 62s 63 Huddtll in 5s 67 27V* IC «V*s 66 66V* ICC GO. 6s 63 A 99 IntGtNor 6s 52 38 Int Gt No6s56B *3 IntHTdroK16s44 A6V* JCenP*L2T4s78 96V* L»eledeGs4V*68111V4 Leh Vt 14 V*s2003 41V* Leh Vtl 4S2003S 36V* Mich CG 3' is69166 M8P8SM 4s 91 S1V* M-K-T 6s 62 A 81V* M-K-T *dJ5s67 74V* M-K-T 4s 62 B 67V* Mo Pse 6V*s 49 23V* Mo Pee 6s 66 A 67V* Mo Pse 6s 81 I 87V* Mo Pse cn 4s 78 47V* NYC rf 6s 2013 60V* NYC4V4S2013A 73V* N Y Ceon 4s 98 67 NYNHAH 6s 40 83 NYNHin4Vis’22 30V* NYNHH 4S2007 73V* NYOW rf 4s 92 11 NoP*c4V*i 2047 90V* Nor Pee 4s 97 104 OcALkCh 4s 48 Id OrWsRRN 3s 60103V* PennCtAlr3V*f* 47 PennRR tn5*68 111 PennRR*4V4s81101V* PennRR 3V.S52 99V* Phlllpn Rt 4s 37 12V* Phil Rt 4s37 ct 11 Reading 3V*g 95 90 SCLSP 4V*s2022 64V* 3tL8anPrn«s97 87V* 80. GW rf 6s 90 102V* Ses A L 4s96 101V* SoeenT-V2V4s70 34V* 8oBT*T2V4i86 94V* Sou Pse «V*s 69 97V* 8o Rt cn 4t 66 96V* StdOilNJ2V*s71 94V* Third Are 6s 60 61 West Gh 4s 2361 67V* WstchLt 3 V* s67107V* West Dn 5s 60 93V* West Elec 2HS7- 97 I Wise Cent 4s 49 70V* Wis Cn 4s 36SD 41 N. Y. Curb Market LIST INCLUDES ONLY SELECTED ISSUES x:iMi Am Bantam Car 2% Am Beverage .. 1% Am Gas it El lb 40% Am Oeo OS* 2% Am Lt AT. 85* 18% Am Maracaibo 6% Am Republic 'Aa 24 Am Superpower 1% AmWrlt Pap V«* 6% ArkNatGaa .20* 7% ArkNGas A .20* 7% AshlandOll 1.20 21% Atlaa Corp w w *% Atlas Ply 2%— 30 Barium Steel 8% Basic Retret 40 7 Blue Rldse 40« 4 Bnk Hill A 8 %a 23% Calllte Tuns_ 3% Call Marconi_ 2% Carr Cons Blac. 4% Casco Prod Via.. 9% Catalln Am . 7% CenAS W Cp TO 10% Cessna Alrc 20« 4% Chi A So Alrl 7% Cities 8ervlce 2. <2% Claude Neon . 3% Clinch Coal la. 49% Colon Develop - 7% Col PuelAIr ww 8% Coml A Sou war %s Cons Gas Util ’/a 11 Cons Royal .14. 9% Cont FdyAM 1. 19 Cosden Petro... 8% Croft Brew .. 1% Crown Cent Pet 7% CrownDrut OB* 3% Cub Atl Sus 2a . 19% DetGraylr .20e. 3% Diana Stores % 7% East GasAFuel 8 El BondASb V4« 19% EmscoDAEq 'At 14% Equity Corp ... 2% Eureka C Ltd... 1*M» FairehldCm.30* 27>/4 Fairchild E A A 9 FansteelMetV4f 13% Gen Finance .20 7% GenPlywood 40 7B Gleaner H 1.20a 30 Glen Alden C 2. 23% Goldfield Cons. m* Hart Ray Corp. 4% Haseltlne Vie—. 1* Hecla Min 1. ... 13% Imp Oil Ltd Vi.. 14% Imp Oil Ltd rt 1% Int Petrol 44 .. 13 Invest Roy 04a 2 Kalser-Prazer.. 1044 Kirby Pet 20t 194* Leonard OU Dev 4» Lit Brothers 844 Lone Star Gas 1 23* Long Island Ltg Louis L It E la 2244 McClanaban OU 144 Menasco Mfg... 144 Mesabl Iron _. 944 Michigan Sugar 244 MdSPAvtel.30* 29* MldStPB Ttc He 7* Mid West Cm 81 1044 Mid-West Refln 444 Monogram Plct 9 Mont-Dalc U .80 1144 Morris Plan .20* 444 Nat Bellas ,20g_ 444 Nat Fuel 0 80. 1144 Nat Union Rad 344 Niagara Hud Pr 944 Northeast Alrl 2* NorthronAlr Hi 1144 Pantepee 1.28.. 214b Pennroad 40s__ 7 Pep Bovs. _ 4 Pepperell 3a M PharlsT&R .15* 4 Pioneer Gold 244 Pltney-Bow 60a 134* Pitt Metallu .80 1844 Producers Com. 24* R-K-O opt war. 344 Raytheon Mfg . 844 RtoGrValO 05* 344 St Lawrence Cp 944 SaltDomeO t’/«f 11 Savoy Oil rt V4s SeullinStl lHg. 1944 Segal Lock_ 244 Select Indus 444 Selc Ind ev 144g 234* Shelter Mfg 1 .17 Solar Aire .30* . 1344 Solar Mfg_ 44* SossMfg 1. ... 94* SoCalEd pf 1.14 29 Std Cap & Seal. 1244 Trl-Contl w w 344 Ulen Realiz .90* 14* Unit Alrc Prod 944 United Corp ww 4* United Gas He. 204* UnltLt&Rys 69* 23V* UtShoeMac 2Via 944* U S Int See_ 44* Ut-IdahoSu.15* 34* WUson Bros 44e. 8 Washington Exchange SALES. Washington Gas common—100 at 27. Heeht common—30 at 27. Washington Gas common—200 at 27. 100 at 27. Potomac Elec Pwr common—300 at 14. 300 at 14. Oarflnckel common—100 at 21V«. Potomac Elec Pwr common—10 at 14V«. Garflnektl 4 (4% pf—100 at 23 Potomac Elec Pwr 3.60% pf. "A —40 at 46(4. Oarflnckel S'4% cu pf—SO at 25. Lenaton Monotype—40 at 24. PUBUC ^UTILITY Bid. Asked Am T&T cv db 2*ii 1957. 114 115 Am T&T cv db 2J4s 1»61 106*. 107(a Cep Transit 1st ref 4s 1964 94',4 — City ft Suburban 5s 1948 100 - Georgetown Ga« 1st 5s 1961 112 _ Pot Elec Pow 3'ie 1968 — 105 _ Pot Elec Pow 3'/«s 1977.. 108 2_ Pot Else Pow 3s 1983 ... 101)4 - Washington Gas 6s 1960 ._12214 - PUBLIC UTILITY STOCKS. Amer Te! ft Tel (9)_*154Ji Capital Transit .. _ I5*i 16'4 N ft W Steamboat <t4> .. 170 Pot Elec Pow com (.90) 13te 14(« P El P 3 60% pf "A" <1.801 45 46'v P El P 3.60% pf "B” M SOI 45'4 46(4 wash Gas Lt com 11.50) 26*. tiV, Wssh Gas Lt cu pfd <4.251 102(4 104 Wash Gas Lt cu cv pf <4.501 104(4 BANK AND TRUST COMPANIES Amer Sec ft Tr new (tl.OO) *29(4 31 Bank of Betheada (tl.BO).. 40 - Capital (.90) _ _ 27(4 - Com ft Savints (tlO)_ 350 - Liberty (8) _......*312 - Lincoln <t6> . . _ 830 - Natl Sav ft Tr (8.00)- 420 - Pr Georges B ft Tr (tl.OO) 80 Riggs 1121 . 320 835 Union Trust Co (tl.OO 1_*37 - Washington (6) ._ 190 - Wash Loan ft Tr (12). 330 -- EIRE AND TITLE INSURANCE. American (t6) _160 Columbia <t.30).. 12(4 1314 Firemen’s (1.40) .- 81 .... National Union (.75)_ 16 19 RM1 ****** MISCELLANEOUS*83 “* Carpel Corp (2.00) .... 25, 30 Oarflnckel com (1.50) 20)4 22 8aril 5)4% cu cv pf (1.375) 24W 25/a arfl 4(4% cu cv pf (1.125) 22*. 23(4 Heeht Co (1.60) . . *26*4 27(4 Eecht 3*4% CU Pf (3.75).. *89 92 inston Mono (+2.00) . 23 24)4 Mergenthaler Lino (al.50) 52 (a 54(4 Nat’l Mtge ft Inv pf (p.45) 8 - Peoples Dr St com ( + 1.60). 33'/a 36 Security Storage (+6) —*108 125 Ter Ref ft Wh Corp IS) . 50 - Wdwd ft Loth com (tC.OO). 34 - Wdwd ft Loth pf new (6).. 104 • Ex dividend, b Books elossd. t Plus extra or extraa a Paid so far this roar n Paid 1947.__ Odd-Lot Dealings The Securities and Exchange Cotnmis sion reported today these transactions by customers with odd-lot dealers or specialists on the New York Stock Ex change lor July 9: 4,808 purchases in volving 150.390 shares; 5.163 sales In volving 161.731 shares Including 18 ihort sales Involving 587 shares. | MCOULD t£ ... | Advertisers speed tnil 'itns te entertain petwbel <uslenters vie redie. Why it «% at FEINTED advertising se glim? teed eld timMs (New Terkl kgs feend H pays le be gey. light-hearted eds ten make friends, friends ire easier te seH1 IRVIN SHAPIRO, ADVIUTISINO j «jo* fvi Strut n. w • srmn+t e<ii I ■ ———T1 240 STOCKS tUat kau€ not mildsd a Dividend in 25 Tears FROM a review of every actively traded stock our Staff has listed 240 with unbroken dividend records for 25 to 134' years ... 8 have paid dividends for 100 years and one has not missed a payment in 134 year*. 89 issues yield from 6% to 13%. This report gives dividend rec ord of each issue, 1947 p« «hare earnings, dividends of last 12 months, and current yields. 12 ISSUES RECOMMENDED From this list our staff has selected 12 issues as most attractive at current level* for income *nd appreciation. Yields’ on these stocks range up to J.9%. We will gladly send new readers an introductory copy of thif report. Send fee Bulletin WA-14 FREE! United Business Service *10 Newbury S Chicago Livestock CHICAGO. July 12 USD A Sal able hot*. 10.000; total. 12.500. weithJ under 2*U pounds aearee and active, 26-60 hither; heavier weights alow, steady to 25 hither; sows unevenly strong to 50 nither- moat advance on wetthts under *00 pounds on sows; .top. 30.60; buu i - ■ ■ 170-2*0 pounds. _ 29.50 20M-21T60: good clearance. Salable cattle. 15.000: total. 15.000. salable calvea 500; total. 500: led, *te*r* and yearlings steady to 50 lower: all other classes steady: trade (airly active, moat good to choice steers. 37.00-39.50. top. 40.00 for three loads: best heifers. .Ji fS: most good and choice heifers. 35.50-1. .50. cutter cows. 19.50 down: common and medium beef cows. 21.00-S6.00; heavy sausage bulls to 25.00; vealer*. 30.00 d°Salable sheep. 1 500: total 2,000: slaughter classes active: sprint lambs a«d yearlings fully steady: ewes 25-30 higher good to choice native sprint lambs. 31.00 to mostly 32.00: top. 32.00: five decks good 85-94 shorn yearlings with No. 1 pelts. 26.00: load good to choice 142 pound Montana ewes with full No. 1 pelts. 12.40.__ Foreign Exchange NEW YORK. July 12 '/Tv—Foreign ex change rates follow (Great Britain in dollars, others in cents): Canadian dollar in New York open market, 7 per cent discount or 93.00 United States cents, up of a cent. .Europe—Great Britain 4.03V4. unchanged: France (franc) .8211 of a cent, down LOANS REAL ESTATE tarl.ws plans. Including long-term monthly payments, at favorable rate. Four DEED OB TRUST ONLY RENT AES—S ALES—INSURANCE GEORGE I. BORGER 64S Indiana Are. N.W. NA 9350 00i’«; Italy (Ural July fixed rate. 001719L June .001718: Sweden (krona) 37.8J. un changed: Switzerland (franc) (commer. dal). 33.40. unchanged._ Dividends Announced NSW YORK. July 13 (#).—Dlndentk declared: > Pe- stk. of Pay, Rate^rtod. record able. Shellmar Prod 40c'-- *’** 10'1 Chgo * Saltern srr $i_. 8-3 8-1# Regular. Harbor "plywood Corn 30c Q 7-13 8-1* “WORLD’S FINEST STAPLER’ IT STAPLES, PINS, TACKS and HAND FASTENS ACELINER ALSO OTHER "ACE" STAPLING MACHINES FOR EVERY PURSE AND PURPOSE. f7skeEco washimotoim-dc P H O N E N A ■ 9 I 7 6 For Assured Income With Safety VrOU can Invest your idle cash in these safe first mortgages, secure in the thought that your money is well protected and bringing you a fair return. We offer these first mortgage investments in limited amounts. B. F. SAUL CO. 925 15th St. N.W. NA. 2100 Mortgages . . . Property Management . . . Fire Insurance r #°1 3 \' When Opportunity Knocks... Be prepared when an opportunity present* itself! Save now while vou can and have readv cash available for business opportunities, “good buys." or other things which monev will allow vou to take advantage of. Start a Savings Account at once at National Permanent. Dividends are credited to vour savings semi-annuallv. “A FRIENDLY LOCAL INSTITUTION” National Permanent BUILDING ASSOCIATION UNDER SUPERVISION OP U 8. TREASURY O’-aantied 1*90 719 10th St. N.W. NA. 0254 Reserve District No. 5 REPORT OP CONDITION OP THE American Security & Trust Company Of Washington 13, in the District of Columbia, a member of the Federal Reserve System, at the close of business on June 30, 1948. Published in response to call made by Comptroller of the Currency, under Section 5211, U. S. Revised Statutes, and a call made by the Federal Reserve Bank of this District, pursuant to the provisions of the Federal Re serve Act. ASSETS 1. Cash balances with other banks, including reserve bal ance, and cash items in process of collection- — $33,192,583.18 2. United States Government obligations, direct and guar anteed __-. ~ 69.163.142.31 3. Obligations of States and political subdivisions. 1,917.566.60 4. Other bonds, notes, and debentures.... 4,633,903.46 5. Corporate stocks (including $270,000.00 stock of Federal Reserve Bank) .. .. 486,003.20 6. Loans and discounts (including $109,467.61 overdrafts* 41,697,338.56 7. Bank premises owned, $2,087,291.92: furniture and fix tures, $20821100 . _ ___ 2.295.502.92 8. Real estate owned other than bank premises. 154,299.71 11. Other assets . 722,852.68 12. Total assets ____-.$154.283.192.58 LIABILITIES 13. Demand deposits of individuals, partnerships and cor porations __-.-- - $92,080,240.81 14. Time deposits of individuals, partnerships and corpora tions .L.___ _-. 33,699,064.34 15. Deposits of United States Government. 5,640,234.58 17. Deposits of banks ... ....- 4,600204.33 18. Other deposits (certified and cashier's checks, etc.).. 2.935.580.51 19. Total deposits ... 8140.936,024.57 23. Other liabilities . 2,291.899 88 — 24. Total liabilities . $143247,924 25 , CAPITAL ACCOUNTS 25. Capital stock: (C) Common stock, total par, $3,400,000.00. 3,400,000.00 i 28. Surplus _ 6,800,000.00 ] 27. Undivided profits . 1,464,560.06 ( 28. Reserves .-.—. 580,706.27 , k __ . 29. Total capital accounts.. $11,035268.3$ 30. Total liabilities and capital accounts..$154283,192.58 MEMORANDA 31. Assets pledged or assigned to secure liabilities and for other purposes . $18,713,769.43 32. (a) Loans as shown above are after deduction of re serves of . 38220.08 District of Columbia, ss: I, W. E- Schooley. vice president of the above-named bank, da solemnly swear that the above statement is true to the best of mf knowledge and belief. W. E. SCHOOLEY, Vice President. Sworn to and subscribed before me this 8th day of July, 1948. (Seal) HARRY G. MULLER. Notary Public. My commission expires Feb. 28. 1949. Con ect—Attest: D. W. BELL CORCORAN THOM GILBERT GROSVENOR ANDREW SAUL . > C. A. A8PINWALL JOHN A. REMON DAN HOLLAND k WM. L. BEALE WM. J. FLATHER. Jr. 8. PERCY THOMPSON J. O. WFT.T. LAWRENCE E. WILLIAMS CHARLES A. CARRY HARRY K. BOSS Directors, k