Evening Star Newspaper, May 10, 1933, Page 12

FINANCIAL, BOND ISSUES LEAD OND.C. EXGHANEE Good Demand Develops for Senior Securities—Bank Plans Pushed. BY EDWARD C. STONE. Bonds were in_excellent demand on Stock hands in small lots. Pirst sales in the bond division were four $1,000 transactions in Potomac Klectric Power 6s, 1953, which moved at 107%. largest bond sales of the day — & Electric ‘Was] Railt 40, six u.mmflu-lukm place at 84Y;, W::fln‘:‘ton Gas i‘hht 6s, Series B on the board in two $2,000 wfimwuom. one made at 103% and the other at 103%. ‘Washington Gas Light stock sold in » small lot today at 61, an advance of ints over the last previous sale. Electric Power 5% per cent ferred stock came out at 106% and shares of Mergenthaler Linotype moved at 25, price unchanged. e o 3 cl 41%, fractionally off from the last sale. Closed D. C. Banks More Active. More sctivity in connection with ‘Washington's 13 closed banks comes to light every day. Today’s developments it two local banks into a definite move bring about & consolidation. The steps taken by the District Na- tional Bank toward adoption of the so- ealled “Spokane plan” have now been #iven the support of the Potomac Sav- ings Bank in Georgetown, which at first had hoped to reopen as a national ‘benk and continue as a unit. The Potomac Savings Bank had gone #0 far as to obtain a large number of subscriptions for new stock in the cam- paign to raise $500,000 in new capital. Elsewhere in foday's Star is the an- pouncement of Chairman Clarke of the Reorganization Committee explaining the decision to enter the general move aimed toward the formation of a central Both the Potomac Savings Bank and the District National Bank have come the uniting of several much stronger institution. Chairman Chester Wells of the District National's Reorganization Committee is particu- larly pleased with the reception of the plan by the stockholders and depositors his bank. Being a conservator, President Joshua Evans, jr., has made no statement, but it is known he is in full accord with the steps now being taken. Sisson Gently Raps Economists. In talking to the members of the United States- Chamber of Commerce FPrancis H. Sisson, president of the American Bankers' tion, made ‘humorous reference to economists with these remarks: “You know, Mr. Vanderlip said if you should take five prominent econo- mists into a room and lock them up and ask them to bring out a plan for this situation they would emerge with six different plans. So, so much for the scholar in this situation. While the brain trust, may serve its purpose, after all, the solution of these ques- gets down to the practical men : affalrs ‘whlch this u::xmlnum s #0 eminently represent 3 “One of the ch“ng‘:thhn of '.hel: through which we have pass P been the tremendous trend toward nationslism, not only in our country, but all over the world. If Alexander Hamilton could come back to eartu today, he would find his fondest dreams realized ever have anticipated. We find the Federal Government is today the only seat of salvation and everything that touches the Messianic spirit immedi- ately heads up at Washington. Perhaps that is logical and natural—the political trend. It is certainly the economic trend with which we must reckon. Changing Price Levels Forecast. Instead of expecting a stabilization of in the future, governmental and ess policies should be fashioned with s view to encountering recurring changes in price levels, according to Dr. M. L. Copeland of Harvard Busi- ness School. This statement, was made lnl connec- with the appearance of a new mfln on “Raw Commodity Prices in Relation to General Business Condi- tions,” by Dr. Copeland, issued by the Harvard Business School, analyzing raw material wnd.th uona' : N:nm!mpomm factor in the presen . As a result of his analysis, which reached Washington today, Dr. Cope- land conclydes that international war debts have been a secondary matter in comparison with the drop in prices of such commodities as rubber, tin, wheat and wool. in upsetting international ex- change and intensifying the depression. Hols Gold Action Temporary. The world cannot hop permanently off the gold standard, William KixMil- ler, president of the Commerce Clearing House, Chicago, Ill, says in his new ‘book, “Can Business Build a Great Age?” Pointing out that gold was used as a standard between the early Phoe- niclans and the natives of the west coast of Africa, he says that the metal early “became the means for propor- tioning dissimilar values. And this is s place today. Only now it has be- come infinitely more important, because not only does it serve as the common denominator in transactions involving asuring displaced short of tragedy to mankind. “Gold was the standard of trade in sncient times, long before the statutes ‘were enagted which legalized it. From time before recorded events business ! men arrived at a common ground of exchange of their products by each mmeasuring his own values in grains of gold. And this is all the gold standard means today,” continues Mr. KixMiller in his newly published book, “except ‘we have built up a lot of technicality sround it.” » ! Financial District Comment. Re-election of Richard Whitney as president of the New York Stock Ex- change caused favorable comment in the local brokerage offices. Warren B. Nash, who was re-elected treasurer, has | served the big exchange since 1919. Latést reports indicate that the Glass bill is due to be taken up again in tbe Senate in a short time. Senator Glass says that he has admin- Sstration support for his measure. Virginia Electric & Power Co. has declared the regular quarterly dividend of $1.50 on the $6 preferred stock, pay- sble June 20 to stock of record May 31. | INVESTMENT TRUSTS ‘NEW YORK, May 10 (#).—Over-the- icounter market: (Quotations as of 3:30 o'clock.) g:’; g z“. > AN e ) owwds>T528 B R s A s 8% LY i S 15% 70 2 18% 3% 1% % 3% 2% 16% 954 121% 14% 11% 2 16 3% THE EVENING STAR, WASHINGTON, D. C, b TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE Recelved by Private Wire Direst to The Sis.r Ofiee. Todsy's Btock and Bales B d Rate. Add 00. High. Low. Low. Dividen s 00 o 47% Alr Reduction (8)... % .ol 11% Alaska Juneau(60c). 1 Albany Wrap Paper.. % Alleghany COrp. .... 1 Alleg Corp pf $30ww 1% Alleg Cp pf $40 ww. . 1% Alleg Cp pf $30 xw. 5 Aileghany Steel..... 70% Allled Chem & D (). 60 Am Brake Sh pf (7). 49% Am Can (4)... 112 AmCanpf (7)... 6% Am Car & Foundry. 15 Am Car&Foundry pf. 3% Am Chall 3¢ Am Chi 13 Am Comc’l Alcohol 3% Am European Secur. 8% Am & Foreign Pwr.. 6% Am&Forgn Pw pf(8) T% Am & For Pw pf (7). 4% Am & For Pw 2d pf.. 4% Am Haw Stship (1).. 2% Am Hide & Leather. ., 13% Am Hide & Leath pf. 29% Am Home Prod (3).. 5% Am Locomotive. . .... 17% Am Locomotive pf... 8% Am Mach&Fdy(80c). 1 Am Mach & Metal 3% Am Metal Co. 15% Am Metal pf. 17 Am News (13%) 4 Am Power & Light. 9 AmPALS5pf (1%). 9% Am P&L $6 pt (14).. p 11% Am Shipbuilding (2) Ref 21% Am Sugar (2) 6 Am Sumatra 86% Am Tel & Tel (9 49 Am Tobacco (). 50% am Tobacco (B) 102% Am Tobacco pf (8) 4% Am Type Founders. 2% Am Zinc & Lead. .... 20 AmZinc & Lead pf.. 5 Anaconda Copper. 84 Anchor Cap (80c) 62% Anchor Cap pf (6%). 9% Archer-Danlels (1).. 41 Armour of Del pf(7). 1% Armour of Ill (A) % Armour of Ill (B) 7 Armourof Ill pf. 1% Arnold Constable. % Associated Apparel. 3% Asso Dry Goods..... 6% Associated Oil... $4% Atchison. ... 80 Atchison pf (5) 16% Atlantic Coast Line. 12% Atlantic Refining(1). 9 Atlas Powder....... 60 Atlas Powder pf (). 31% Auburn Auto (2).... 5% Aviation Corp (Del). 3% Baldwin Locomot. .. 9% Baldwin Locomot pf. 8% Baltimore & Ohlo.... 93 Baltimore & Ohio pf. Bang & Aroost (2). Barnsdall Corp. . Bayuk Ciga Bayuk Cig 1st pf(7). Beatrice Creamery. . 'h-Nut Pkg (3).. ing-Hemingway Bethlehem Steel pf. Bigelow-Sanford Blaw Knox.......... Bohn Alumn & Brass Borden Co (1.60). Borg Warner Boston & Maine. Briggs Mfg Co...... Briggs & Strat (1)... Bklyn Manhat Tran.. Bklyn Man Tr pf (8). Bklyn & Queen Bklyn Union Gas (5). Brown Shoe (3)..... Bruns Term & Rwys. Bucyrus-Erle. .. 7% California Packing.. 3% Callahan Zinc & L&, 2 Calumet & Hecla 2 Campbell-Wyant Fy. 73% Canads Dry G A (1). 7% Canadian Pacific. 14 Cannon Mills (1) 4% Capital Admin (A) 30% Case (J I) Co Case (JI) pf 5% Caterpillar Tracto: 4% Celanese Corp... % Celotex Co. 14 Cent Aguirr 38 CentRRoOfNJ. 2 Century Rib Mill 5% Cerra de Pasce. 1 Certain-teed Pr ) 24% Ches & Ohlo (23)... 14% Chesapeake Corp (2) 1% Chi Great Western.. 2% Chi Great Westn pf. 1 Chi Mi1StP & Paec... 1% Cht M1l StP & Pac pf. 1% Chi & Northwestern. 2 Chi & Northwest pf.. 2% Chi Pneumatie Tool.. 5% Chi Pneu Tool pf.. 2 ChiRock 1& Paec.. 2% Chi R1& Pac6% pf. 3% ChiRI1&Pac 1% pf. 9 6% Chi Yellow Cab (1).. 50s 5 Chickasha Cot O(1). 16 2 Childs Company..... 1 7% Chrysler Corp'n..... 778 74 City Ice & Fuel (2) 3 45 “ity Ice&Fuel pf 6%. 10s % City Stores. S % City Stores ctfs... 73% Coca-Cola Co (T) 7 Colgate-Palm-Pee 49 Colz-Palm-P pf (6) 3 Collins & Afkman 10 Colonial Beacon Ofl.. 3% Colo Fuel & Iron. 12% Colo & South 1st pf.. 220s 10 Col & Southn 2d pf.. 20s 9 Columb G&E1(bS0c). 222 6% Columbia Pict vic... 23% Columb Carbon (2).. 4 Commercial Credit.. 18% Comel Cred pf (1%). 18 Comcl Inv Trust (2). 84 Comcl Invcv pfies). 9 Comcl Solv (60¢).... 1% Comwlth & Southn. 21 Comwith & Sou pf(6) 3 Conde Nast Pub. 7% Congol-Nairn (60 3% Consol Cigar. 31 Consol Cgr pr 1% Consol Film..... 5% onsol Film pf. 40 Consol Gas NY (3.40) 83 Consol Gas NY pf(5) 2% Consol Laundries.. 6 Consol Oi1 Corp 1% Cons RR of Cuba pf. 3% Consol Textlle...... 1% Container Corp (A; % Sontalner Corp (B)., 3 Contl Baking (A)...J % Contl Baking (B).. 4 36 Contl Baking bt (4] $ooise e LY Y% Net.. Close. Ohgs. | High. Low. Todsy's Sales Add 00, High. Low. ~Prev. 1083~ Stock and B Dividend Rate. + %| 56 36% ContiCan(2)....... 178 7 3% Contl Diamond Fibre 328 26% 10% Contl Insur (1.20)... 3% 1 Contl Motors.. 10% 4% Contl Ofl (Del).. 74 45% Corn Products (3)... 145% 117% Corn Prod pf (1) 5 2% Coty INC.....cccuuee I:: 28 Cream of Wht t2%.. 26% 31 +l4+++++ o= EEE FEEF 24% Crown C&S pf (2.10). 1 Crown Zellerbach.... FE X 10 “uban-Am Sugar pf. 20% Cudahy Packing 2%. 614 Curtis Publishing. .. 30 Curtis Publishing pf. 1% Curtiss-Wright..... 2 Curtiss-Wright (A). 74 Cushmansptf (7).... 4% Cutler Hammer. 1% Davega Stores . 6% Deere & Co pf (20¢).. 37% Delaware & Hudson.. 17% Del Lack & Westn... 48 Detroft Edison (4)... Detroit & Mackinac. . 10 Devoe&Raynolds(A) 17% Diamond Match (1). 26% Diamond Mach pf 1% 12 Dome Mines (11.30 « % Duluth S S & Atl pt.. 32% Dupont de Nem (2).. 97% Dupont deN db pf(6) 1% Eastern Roll Mills 46 Eastman Kodax (3 3% Eaton Mfg Co. % Eitington-Schil 10 Elec Auto-Lite. 1 Elec & Musical 34 Elec Pwr&Lt. . 6% Elec Pwr&Lt $8 i 7!s Elec Pwr&Lt §7 pf. 21 Elec Storage Bat (2). 26 Endicott-Johnson(3) 107 Endicott-John pf (1) 4 Engineers Pub Sve. . 16% Eng Pub Sve pf (5).. 61 Equitable Of Bld(1).. 3% ErleRR % Bvans Auto Prod. 2% Fairbanks-Morse. ... 10 Fairbanks-Morse pf. % Fashion Park Asso.. 8 Fashion Park Aspf.. % Federal Screw Wks. . 1% Fed Water Service A 10% Fidelity-Phoen 1.20.. 9% Firestone T&R(40c). 42 Firestone T&R pf(6) 43 First NatStrs (2%). 73 Florsheim Shoe (A). 2% Follansbee Bro: 4% Foster-Wheeler..... 13% Fourth Nat Inv 1.10, % Fox Film (A). 16% Freeport-Tex: Gabriel Co (A) 13% Gen Am Transp't(1y . 4% Gen Asphalt, 13 Gen Baking (3). 6% Gen Cable pf 29 GenCigar (4)........ 10% Gen Electric (4¢.0).. 21 GenFoods (1.61,).... % Gen Gas & Eleq (A). % Gen Gas & Ele> (B).. 24% Gen Itallan E(1 h2.04. 35% Gen Mills 3) . 10 Gen Motors (1) 65% Gen Motors of (5) 22 Gen Outdoarr Adv. 3% Gen Printig g Ink 2 Gen Publia :Bervy 13% Gen Ry Sig-pal (1) % Gen Realty & Util 5% Gen Fealyy & Util 24 Gen Refyactorfe 9% Gillette/saf Ras % Gimbel’Bros 7% Goftham Silk Hoslery 41 Gdtham S Hof (7).. Gy aham-Pal 9% 27% Gyvdy‘r T&R 1st (2) 5% 7 Great West Sugar... 72% Great Wn Sug pf(7). /s Grigsby Grunow.... /4, Guantanamo Sugat 2% AT T 19% l7h Hackensack W (1%) 3% Y% Hahn Dept Stores... 4 Harbison & Walke: Harbison& Walker p % Hartman Corp (A).. % % Hartman Corp (B. 2% % Hayes Body.... 26% 15 Hercules Powder 57%. 35% Hershey Choc (3). 315 Holland Furnace. 4% Houdaille-Hersh(A). 1 Houdaille-Hersh(B). 44% Househd Fin pf 4.20. x:x#sxi:#::x: FEFR FEL 5% Howe Sound (40c)... 16% 11% Hudson Manhattan. . 8 Hudson Motor Car. 1% Hupp Moto: 8% Illirols Central..... 16 Illinois Central pf... % % Indian Motor Cycle.. 47% 24 Industrial Rayon (2) 42% 19% Ingersoll-Rand(1%). 28% 12 Inland Steel......... 5% 2 Inspiration Copper.. 4% 1% Insuranshrs Del 16c. 2% 1% Insuranshares (Md). 4% Interboro Rap Trans. % Intercontl Rubber. .. 2% Interlake Iron % Int Agricultur 75% Int Bus Mach 2% Int Carriers Ltd 2 6% Int Cement. 3% Int Combustion. 2 IntComb pf ctfs 1% Int Combustion 2% Int Hydro-Elec ( 6% Int Nickel of Can. % Int Paper & Pwr (A). % Int Paper & Pwr (C). 4% 2 Int Paper & Pwrpf.. 7 8% Int Printing Ink.. 3% 1% Int RysCent Am. 22% 13% Int Salt (1%). 41 24% Int Shoe (2) 50 243 Int Silver pf.. Towa Central RR... 1 11 Island Creek Coal(2) 36% 23 Jewel TeaCo (3).... 29% 12% Johns-Manville. . 68 42 Johns-Manvillepf... 1 35 Jones & Laugh pf(1) 6% Kansas City Southn. 2% Kaufmann Dept St.. 6% Kayser (J) & Co. % Kelly Spring 6 Kelly-Sp T 13% 7% Kennecott Copper... 5% Kimberly-Clark..... 2 4% Kinney (G R) Co pf.. 30s 5% Kresge (S8)........ 168 14% Kroger Grocery (1). x 40 22% Lambert Co (4). 2% Lehigh Val Coal pf.. 8% Lehigh Valley R R.). FEEERF P 49 Liggett & Myers(15) 49% Ligg & Myers B (15) 18 Lily Tullp Cup (1%). 10 Lima Locomotiv 6% Link Belt (40c). 10% Liquid Carbonie. 815 Loew's Inc (1)...400 35 LoewsIncpf (63).. 13 o T T 56 8% 24 Net. +m| +1% +1 o+ =Raee 2F sxe +r4+ | £+ » X o I IR ERFESERESS g R &2 ex +:|++l| + * l-'fvv. 1983~ High. Low. Today's 3% 1% LoftIne..... . 37 19% Looje-Wiles Bis (3). 19% 10% LdrAllard (P) (1.30). 2 % Loalsiana Ofl....... 19% 18% Liju Gas&El A (1%). 42 l}K ¥.puisville & Nash. 9% ) Eudlllm teel. 9% McAndrew Forbes(1) 13 McCall Corpn (3).. McCrory Stores A. ‘ McCrory Stores pf. 1f3, Melntyre P M($1%). A% McKeesport T P (4). 1% McKesson & Robbins 5% Manhattan Shirt. % Maracaibo Oil Exp. 5% Marine Mid1d (30¢c) € Marlin-Rock (1). % Marmon Motor Car 4% Marshall Field & Co. % Martin Parry.... 14 Mathieson Alk (1%). 9% May Dept Stores (1). 8% Melville Shoe (1.20). 2 Mengel Co..... 22 Mengel Co pf. 7 Menta Machine(60¢). 18% Met-Gold Pic pf 1.89. 1% Miami Copper....... 3% Mid Continent Petm. 3 Midland Steel Prod. . 13 Minne-H well Reg. 1% Missouri Pacific. 1% Missour! Pacific 7 Mohawk Carpet 25 Monsanto Chem 1% M irray Corp. 17% 11% Nash Motor. 3% 1% Nat Acme Co. 50% 31% Nat Biscuit (2.30) 4 Nat Supply Co. 17 Nat Supply pf. 1% Nat Surety. 6% Nat Tea (60c) 1% Neisner Brothers. 4 Nevada Con Copper. 2 Newton Steel. - osafanBe ~885 NH&Hartpf.. Ont & Weatern. . 1% N Y Shipb'ldg (10e). 31 N Y Shipblag pt (7). 17% Noranda Min (a1.10) 111% Norfolk & West (8). 74 Norf & Westn pf (4) 4 North Am Aviation. 15% North Am (b8 %stk’ 5% North German Lloy: 9% Northern Pacific.... %] 1% Norwalk Tire & Rub, 9% 3% 13% 3% 4% Oh10Ofl............ 14 Oliver Farm Equip. 3% Oliver FEQprpfA.. 1% Omnibus Corp. .. 2% Oppenheim Collins. . 104 Otis Elevator(60c) . 93% Otis Elev pf (8) 14 Otis Steel. ... 2% Otis Steel pr pf. 31% Owens 111 G! 2) 1 Pacific Coast 2d pf... 1008 20 Pacific Gas . 18 25% Pacific Lighting (3) 23 1% Packard Motor Car. % Panhandle Pro&Ret % Par-Publix cts. 25% Penick & Ford (1)... 19% Penney (J C) (1.30). 90 Penny (3 C) pt 13% Penna RR (60c)..... 41% Peoples Gas Chi (5) pf... 50s [3 Marquette pr pf 2108 6% Pot Milk............ 14 4% Petrol Corp of Am. 22 4% Phelps Dodge. . 87 25 PhilaCo6% pf(3).. 1 2% Phila& ReadC&I.. 11 8 Philip Morris&Co(1) 1 4% Philiips Petroleum.. 208 1% Phoenix Hosfery. 20 4 Plerce-Arrow pf. % Plerce Ofl. . 3% Plerce Ofl pt. % Pierce Petroleum 9% Pillsbury Flour (1) 4 PitisCoal. . 17_ Pitts Coal pf. 1% Pitts Screw & Bolt. 4 Pitts Term Coal pf. 156% Pitts United pf. i % Port Ric Am Tob(B). 4 Postal Tel&Cable pf. 7 Prairie Pipe Line. 5 Pressed Steel Car. 3 Pressed Steel Car 19% Proctor & Gam(1%). 97 Proc& Gamb pf (6). & Refin. 3 70 30s 6 3 Prod & Refiners pf. 33% Pub Sve N J (2.80). 68 Public Sve NJ pf (5 80 Public Svo NJ pf (6). 89% Pub Svc GAE pf (5) I Corp (3) 13% Radio Corp pf (A) 6% Radio Corp pf (B) 1 Radio-Keith-Orph 5 Raybestos-Man (60c) 23% Reading Rwy (1).... 5% Real Silk Hostery ... % Rels (Robert) & Co 2% Remington-Rand. 6 Reynolds Metals(1). 1% Reynolds Spring.... 26% Reynolds Tob B (3) % Richfleld Oil Sales Add 00. High. Low. 13 2% 353%00 T Bl g i EER RNF - LEFH B S T T S S e * + - = 23 ¥ res 3 FHEEE Hb HEEEEEE RE F RIFEE FF FEPEFER LH++++ +++ FRE AR + 4+ = - £ F +1E++ EEEEE R 133 l**:{'f‘ +1 ss¥Pes sx Lrilits FEESEE FF 44+ 4 L 1 - T = REFERES FF A A AT IR e Fx sesssie ++ £ |3 . ¥ +1% ~Prev. 1938.~ High. Low. Today's Stock Net. and Sales Dividend Rate. Add 00. High. Low. Close. Ohy 88% 172 Safeway Strapf (6). 10s 88% 88% 96 80% Safeway Strs pf (T 50s 95 18% 6% St Joseph Lead.. 1% 2% 3 5% 2% 7 +1% % Seneca Copper.... 1% Servel Ine. Shell Union O11. . 28% Shell Union O1l pt. 4% Simmons Co........ 4% Simms Petrolm (2| 8 SkellyOil... 30% 15% So Port Ric Sug 1.60. 120 112 8o Port Ric S pf (8). 28 17% South Cal Edison(2). 23% 11% Southern Pacific.... 4% Southern Railway... 5% Southern Railway pf % Sparks-Withington. . 7% Spencer Kellogg (60c) 2% Sperry Corp. eee 1 Splegel-May-Stern. . 13% Standard Brands (1) 5% Stand Gas & Blec. . 8% Stand Gas&El pf (4). 17 Stand Gas&El pf (6). 1 20 Stand Gas&EI pt (1) 2 % Stand Invest Corp. .. 1 19% Stand Ofl of Cal (1).. 179 92% Stand Oil Exp pf (5). 1 12% Stand Oil Kansas. 22% Stand GI' N J (1) 4 Starrett (LS)... 20 Sterling Secur cv pf. 2% Stewart Warner..... 5% Stone & Webs 1% Studebaker Corp. ... 9 Studebaker Corp pf.. 36 SunoOil (1).. 89 Sun Ofl pf (6). 7% Superheater (50c)... % Superior Oil. 2 Superior Steel. % Symington. . % Symington (A) e Corp. D (1)..... 15% Tex Gulf Sulphwr(1) 1% Tex Pacific Coal&Ofl. 3% Tex Pacific Land Tr. 5 Thatcher Mfg Co. 2% The Fair. sreryEsFrse 6% Thompson (J R) (1). 5% Thompson Product. % Thompson Starrett 3% Tide Water Asso Ofl. 23% Tide Water Assoc pf. 45 Tide Wat Ofl pf (5).. 1% Timken-Detroit Axle 13% Timk Roll Brg (.60). 2% Transameriea Corp. 2% Tri-Contl Corp...... 41 Tri-Contl Corp pf(6) 20% Trico Products(23%). 2 Truscon Steel. 1% Twin City Rap T: Ulen & Co. FE R R R o B I e e o S 4 T Union Bag & Paper.. Union Carb & C (1) Un Of1 of Calif (1). Union Pacific (6).... Union Pacific pf (4). 10% Union Tank Car 1.20. 16% Unit Afrcraft....... Unit Afrcraft pf (3). 13% United Bireuit (1.60) 10% Unit Carbon........ 4% Unit Corp (40¢c). Unit Corp pf (3). Unit Dyewood. Unit Electric Coal. % Unit Fruit (2)... Unit Gas&Im (1.20). Unit Gas&Im pf (5). Unit Plece Dye Wks. U S Distributing. U S & Forn Secur U S & Forn Sec pf. U S Freight..... U S Gypsum (1). U S Hoffman. . U 8 Ind Alcohol. .. U 8 Leather. .. U S Leather (A). U S Pipe&Fdy (50¢! U S P&F 1st pf 1.20 U& Realty & Imp. 0 Univ Pictures 1st pf. 1% Utll Per& Lt (A % % Vadsco Sales Corp... 18% T Vanadium Corp. 3~ 1% Van Raalte.. 15 16 Van Raalte pf (sta).. 1% 14% 2008 208 57 1% 1% Vulcan Detin pf (7 Wabash R R Wabash pf (A) Waldorf System (1 Walworth Co. ... 11% Ward Baking pf (1).. 1 Warn Bros Picture 4% Warner Bros Pic p: Warner Quinlan. Warren Bros Rao Worthington Pump. . 6 Wright Aeronautical 34% Wrigley (Wm) (3). pLY 7 Yale & Towne (60c). 5% 2% Yellow Truck.. 27 18 Yellow Truck pf. 8% 3% Young Spr & Wire. .., 22% 7% Youngstown Sh&Tr. M « - asl8nanm 1 3% Zenith Radlo. . 6% 3% Zonite Products. RIGHTS—Expire. % % NatDist P...May 29 140 % Sales of Stocks on New York Exchange. 10:30 A.M 590,000 12:00 Noon. 1,810,000 +.2,550,000 210 PM. . 2,820,000 h Paid this year. NEW YORK EGG MARKET NEW YORK, May 10 (Special).— Ne and Western special l""‘r:wm 16%816%. S R e U. 5. TREASURY BALANCE. toms duties for elght $5,500,740.48, o ok Shipping Activity Declines. May 10 'Aoril totaled 196 yessel, the maritime exchange. This sented a decrease of 20 from March and 8 decrease of 21 compared with American ships BALTIMORE, Arrivals at the last year. 157 arrivals. FOREIGN EXCHANGE. 019190 s S e e Dot % 15 [ & i ragEsiee . e NEW YORK BANK STOCKS Baltimore in | - according to NEW YO] May 10 (#).—Over-the- repre- m“i: Y & i counter Quotations as of 2 o'clock. BANKS. April led, witn BAD Trmt ) Ereined G Chemical (1.80) . Contirental (1.20) Corn Exch (3) Y Trust ( Title G & T (1.60) United States (60) 4 ‘*Includes extra, PNESDAY, “MAY 10, 1938. FINANCIAL, STOCKS PUSHED UP. INVIGOROUS RALLY New Highs on Recovery Are Scored by Many Issues. BY GEORGE T. HUGHES. BY GEORGE T. HUGHES. Speclal Dispatch to The Star. NEW YORK, May 10.—Stocks moved ahead confidently into new high ground . At times the market was buoyant and at other times it simply firmed, but it never reacted importantly and the finish was around the best of the day. Bonds also were strong. = Commodities advanced with securi- ties. Wheat closed 1% to 12 cehty higher and cotton was strong all day. The foreign exchanges moved against the dollar, although they weakened 4 slightly toward the close. Among the features in the stock mar- ket were the motor shares, the rubber and tire stocks, the railway equipment issues and a long list of specialtiés. Eastman Kodak declared the regular dividend on the common stock. - Prices were higher at the opening and the rise continued throughout the morning. Public participation was in evidence on a larger scale and it was aided by professional buying for both accounts, with the result that a long list of stocks went into new high grourfd on the recovery. e The news was favorable almost wit¥- out exception. Electric output increased on the week one-half of 1 per cent and was off only 1.8 per cent from the same week a year ago. The Iron Age said that “the upward sweep of production, prices and purchases in the iron and steel industry has not yet been checked” Scattered reports continued to be re- '+ | cetved of increased operations in various lines, among them shoe manufacturing. Endicott-Johnson announced it had enough orders to put all its factories on full time for the better part of the Sum- mer. Railway presidents were quoted as believing that the recent increases in trafic marked a definite turn. Allied Chemical was the star perform- er during the early trading, advancing 5 points, evidently on short covering. American Can ran up 3 to 4 points in the same time and Eastman Kodak made a similar gain, putting it to & new 1933 high. Corn Products was another strong industrial. Market Averages By the Associated Press. 20 _ 90 Uil Total 85 g0 . 3 years ago. 5 years ago. .1 High, 1043 Low High Low. High, Low. WE_OFFER PATTERSON BREWING CO. Common Stock @ $3.25 Per Share Now Manufacturing ALE and BEER - Mail Coupon for Further Information Colony Company Washington Bldg. ME. 2721 ADMINISTRATIVE AND RESEARCH CORPORATION - DISTRIBUTED BY A NATIONAL GROUP OF INVESTMENT HOUSES ANI XS MIMEOGRAPHING ONE - =& CENT Have 100 Letters Mimeographed for Ie .. Give us a mimeograph order for 100 copies at $1.00 sny time within the next 30 days. Present this ad and get 100 additional of same copy mimeographed for lc. DIRECT MAIL ADVERTISING MULTIGRAPHING ADDRESSING " " Rosette Advertising Service Mather Bldg. 916 G St. NW. National 6367 The Habit of Thrift deposits at the Nati Permanent. Our dends of 5% help greatly in incre ings. Open your account today. Members Building and Loan Assn. Council » ¢ N EIE LEIMSECIEA”OIE (7 - 094902 ST. NW, ¢ R JVPtevision vs-