Evening Star Newspaper, March 6, 1935, Page 16

INDUSTRY AIDED [TR AN'§ BY DIRECT LOAN Richmond Reserve Extends Additional $1,127,000 During Month. BY EDWARD C. STONE. Direct loans to industry are still being made by the Federal Reserve Bank of Richmond in efforts to speed up recovery and banish the depression. Between January 15 and February 15, the Richmond Bank lent an additional $1,127,000 as working capital to indus- try in this territory under authority of Section 13-B of the Federal Reserve act. The Reserve Bank also increased by $194,360 its commitments to member banks on loan to industry made by members, according to the detailed monthly review prepared by Chairman W. W. Hoxton and just received here. The Reserve Bank agent adds that these commitments are both assets and liabilities; assets in that the bank is paid a small percentage for the com= mitments, and contingent liabilities in that the bank agrees to indemnify the lending banks against any loss on the loans to the extent of the commit- ments. Federal Reserve notes in actual cir- culation dropped by $3,037,000 between the middle of January and the middle of February, a seasonal decrease after the passing of the need for currency for holiday buying and marketing of agricultural products. Member banks built up their reserve balances as the Reserve Bank by $15,972,000 between January 15 and February 15. The several changes in the state- ment raised the cash reserves of the Federal Reserve Bank of Richmond by $16,233,000, and the ratio of cash re- serves to note and deposit liabilities combined by 2.44 points. Time Deposits on Increase. ‘Time deposits in 28 reporting mem- ber banks and aggregate deposits in 11 mutual savings banks totaled $333,- 027,189 at the end of January, 1935, a higher figure than $330,739,162 report- ed at the end of December, 1934, and 6 per cent more than $317,206.433 re- ported at the end of January last year. Both reporting member banks and mutual savings banks showed increases in time and savings deposits during the year. Aggregate debits to individual ac- counts during the five weeks ended February 13, 1935, showed a seasonal decline of $89,182,000, or 7.7 per cent, in comparison with total debits in the preceding like period, ended January 9. The preceding period contained a considerable volume of annual pay- ments around January 1, and also much of the Christmas trade. Four reporting cities, Charlotte, Columbia, Durham and Greenville, reported higher figures for the later period, but all other cities showed the normal decrease for this season. In comparison with debits reported for the five weeks ended February 14 last year, debits for the corresponding period this year showed an increase of $219,404,000, or 23.2 per cent, 18 of the 23 cities attaining higher figures. Building Permits Improving. ‘The Richmond Bank official an- nounces that building permits issued in January in 31 leading cities of the fifth Reserve district n&mbered 1,368, compared with 1,154 permits issued in January, 1934, an increase of 185 per cent this year, and esti- mated valuation figures for last month totaled $1,873,456, an increase of 60.8 per cent in comparison with valua- tion figures totaling $1,165,179 in January last year. Twenty-one of the 31 reporting cities showed higher valuation figures for the 1935 month. Among the five largest cities, Washington, Richmond, Norfolk and Charlotte increased, while Baltimore decreased. Columbia, S. C., made the best record in esfi- mated valuation figures in January, 1935, population of reporting cities being taken into consideration. Contracts awarded in January for construction work in the fifth district, including both rural and urban proj- ects, totaled $10,324.615, compared with $31,109,468 awarded in January, 1934, according to figures collected by the F. W. Dodge Corp. Revenue Agents in Banks. Revenue agents have been assigned to the local banks to assist patrons in making out their income taxes. With few exceptions this has been done for several years, the service being greatly appreciated. The agents advise patrons on all other vital de- tails. The tax experts were swamped with work today as the final rush of com- pleting income tax returns is now on in earnest. The returns must be filed by March 15. Twelve revenue experts are now located in the banks. Most of the banks which do not have Gov- ernment agents have assigned tax men from their own staffs to assist pa- trons. The task is a big one. Some returns are most complicated, a good many bank depositors expecting prac- tically all the work to be done for them. Junior Bankers to Debate. Washington Chapter, A. I. B., will meet Richmond Chapter in debate Saturday night in the assembly room of the American Security & Trust Co. on the subject “Resolved. That the sale and export of arms and ammunition to foreign nations be prohibited.” J. Earle McGeary of W. B. Hibbs & Co. and G. E. Foreman, Riggs National, will represent the negative side, with Donald W. Mobray, American Security & Trust, as alternate. The judges will be William C, John- stone of George Washington Univer- sity, F. W. King, an official of the Virginia Public Service Corp.. and Maurice D. Rosenberg, president of the Bank of Commerce and Savings. A special entertainment and dancing will follow the debate, a large Rich- mond delegation being expected. Heard in Financial District. Capital Transit sold at 24}2 on the Washington Stock Exchange today, & little lower than other recent trans- actions. American Security & Trust Co. stock moved at 198. Railway & Electric preferred at 103, and Potomac Electric Power 5% per cent preferred at 114!, with the 6 per cent pre- ferred at 11115, Bonds were firm in quiet demand. A 34 per cent increase in new mem- ‘berships during February as com- pared with the previous month was reported today by the Keystone Auto- mobile Club, and the result was held by club officials as being confirmation of the steady upward trend in busi- ness in many trade lines in Washing- ton. Local brokers generally believe that Richard Whitney will be re-elected president of the New York Stock Ex- change. He is now completing his fifth term. In the financial district here, it is considered that he has handled many delicate problems with the Securities and Exchange Com- mission in & very diplomatic way. B — United Electric Coal Co.s net in- come, six months ended January 31, ‘was $32,138, equal to 11 cents a com- guen share, vs, deficit $6,326, Prev. High. 11% 6% 8% 1938 Stock and Low Dividend Rate 8 Addressograph. 5% Advance Rumle: 6% Afliated Prod (60¢) 115% 10912 Air Reduction (3).. 1% 20% 31 1% k § 613 141 1% Air-Way Elec Appl. 16% Alaska Jun (11.20).. 2 Albany Wrap Pap: 1 Alleg Corp (k). 3% Alleg pf w330w ( 3 Alleg pf wi40w(k). 132% Allied Chem (6}.... 1273 123% Allied Chem pf (7). 177% 20% 15% Allis-Chalmers..... 15% Alpha Port Cmt (1). 2% Amal Leather...... 28% Amal Leath pf ((j2) 481 Amerada Corp (2).. 47)2 Am Ag Chem Del(2) 13% Am Bank Note. 43 Am Bank N pf 9% 25% Am Brake Shoe 80c. 123 110 AmCan (15) 157 151% Am Can pf (7) 20% 45% 123 75 13% Am Car & Foundry., 30% Am Car & Found pf. 8 Am Chain.......... 66 Am Chicle (13%). 25'% Am Comel Alcohol.. 62 Am Crystal Sugar. . 57% Am Crystal Sug p! 2 Am Ensaustic. 4'i Am European . 25 Am & Foreign Pwr. 17 Am & For Pw pf (7) 5 Am & For Pw 2d pf. 10': Am Hawaifan SS(1) 4 Am Hide & Leather. 205 Am Hide & Leath pf : 30% Am Home P (2.40).. 313 Am Ice Co. 287 Am Ice Co pf (6). 4 Am Locomotiv 37“» Am Locomotiv . 20 AmMch&Fy (loc) 5 Am Mach & Met ctf. 4 14 Am Metals. ... 72 Am Metals pf. 2 Am Power & Light. 9% Am P&L $5 pf (1%) 12 Am P&L $6 pf (1%) 1133 Am Radiator. 17% Am Rolling M 67 Am Saf Raz (1556 . 4% Am Seating. .. 32% Am Smelt & Ref. 112 103 Am S&R 6% pf (i3). 125% 121 Am S&M 7% pf (7). 69 18% 43 63 Am Snuff (13%).... 14’5 Am Steel Foundry, 37% Am Stores (12%). 70%: 60 Am Sug (2).... 134 126': Am Sugar pf (7). 24% 183 Am Sum Tob (1 106% 102% Am Tel & Tel (9). 84% 77% Am Tobacco (5) 86% 78% Am Tobacco B (5) 138 129% Am Tobacco pt (6) . 19% 147 11': Am Type Fdrs pf (k) 9% Am Water Wks (1). 5% Am Woolen. .. 37 Am Woolen pf. . 1 Am Writ Paper (k). 315 Am Writ Pap pf (k) 91x Anaconda Copper 162 Anaconda Wire. 15 Anchor Cap (60c: 36 Archer-Dan M 1%. 4% Armour of Illinois. . 85 Armour of Ill pf. .. 6415 Armour Ill pr pf (6) 4z Arnold Constable... 9's Asso Dry Goods. . 86'2 Asso D G 1st pf(i3). 38% Atch To&S F' (h2).. 24 Atlantic Coast Line. 6 Atl Gulf & W Ind pf 223% Atlantic Ref (1).... 3713 Atlas Powder (2). 110 106% Atlas Powder pf (6) 293, 14 65 26% 15 17% 42y v 19'x Auburn Auto...e... 83 Austin Nichols..... 313 Aviation Corp Del.. 113 Baldwin Loco (k) 9 Baldwin Loc pf(k). 9 Baltimore & Ohio... 10% Baltimore & Ohio pf 37% Bang & Aroos (2%). 6 Barnsdall Corp. % 40 Bayuk Cigar (bé) 9 16% Beatrice Greamery.: 5 12% Belding-Hem (h50¢) 13% Bendix Aviation 15% Beneficial Loan ‘ 643; Bethlehem Stl pf. .. 1 17% Bigelow-San Corp. 10% Blaw-Knox.... 18 Bloomingdale (40c). 30 Blumenthal pf.. 7 Boeing Airplane 53 Bohn Alum&Br (3). 90 Bon Ami (A)(15) 23Y% Borden Co (1.60). 28Y% Borg Warner (1%). 4’2 Boston & Maine 243 Briggs Mfg (2). 23's Briggs & Strat (3. 331; Bristol-Myers 12.40. 367s Bkin-Man T(a75¢).. 90 Bklyn-Man T pf (6) 2 Bklyn & Queens. 57 Brown Shoe (3) 4% Brunswick-Balk 5 Bucyrus Eri 9% Bucyrus Erie 64 Bucyrus Erie pf (2) 3% Budd (E G) Mfg.... 26 Budd (EG) Mfgpf. 3 Budd Whe 10% Bullard Co 41, Burns Bros pf. 141 Burr Add M (60¢)... 1% Bush Terminal (k). 2 13 Bush Tr Bldg pfct. 11; Butte Copper & Zine 1 Butterick Co.. 14% Byers (A M) 40 Byers (A M) pf. —_— 42% 1% 4% 16% 13% 36 12% 1091»« 102 FA. 33% 45% 447% 25 2% 4% 3 4% 5% 10% T3 26% 2% 4% 29% s 42% 22 931 1% 281 36 California Pkg(1%) 13 Callahan Zine...... 27 Calumet & Hecla. .. 9% Canada Dry G A (1) 10% Canadian Pacific. 33% Cannon Mills (2 5% Capital Admin (A) 51% Case (J I) Co... 90 Case (J I)pf(4). 36 Caterpillar Trac(1). 23% Celanese Corp. ..... 22% Cent Aguire (1%) 91 Century Rib Mills. . Century Rib M pf 7. 38% Cerro de Pasco (2). 415 Certain-teed Prod. 2515 Certain-teed P pf... 40% Ches & Ohio (2.80). 38 Chesap Corp (3)... 1% Chi & East 111 pf (k) 5 Chi Great Western.. 1% Chi Grt West pf. 2 ChiMIIStP&P.... 2 ChiMilStP&Ppf. 3% Chi & Northwestrn, 512 Chi & Northwest pf. 5% Chi Pneumatic Tool 20% Chi Pneu Tool pf. 1% ChiR1&P (k)..... 212 Chi R 1&P 7% pf (k) 26': Chickasha CO (2).. 4% Childs Co...... 33% Chrysler Corp (1).« 20 City Ice & Fuel (2).. 87 City Ice& Fpf6%.. 7 City Stores (k). 24% Cluett Peabody (1). 180 161% Coca-Cola (8 1 = 16% Colgate: 11 Collins & Alkma: 6% Colonial Beacon Oil. 2% Colo Fuel & Iron(k) 10% Colo & South....... 7 Colo & Sou 1st pf... 4% Col Gas & Elec. 45 ColG&BpfA (6).. 34% Colum Pie vte (m1). 67 Columb Carbon (4). 47% 389% Comcl Credit (2). % 52% Comel Credit(A)(3) 113 109% Comel C 1st pf(635) 62% 23% 1% 40% 347 10% 10% 82 % 56% Comcl Inv 2r(t2%) 19% Comel Solv (1856).. % Comw & Southn. . 29% Comw & Sou pf (3). 71% Con C pr pf ww 6% Con Cg pr pf xw 6% 5% Consol Film.. 18% Consol Film pf (§2). 15% Consol GasN ¥ (1). 723 Consol Gas pf (5). 1% Consol Laundries... 7% Consol Oil (hd2e). .. 21 Consol R R Cuba pf. 5 Consol Textile..... 096 Container Corp (A): 4 Container Corp (B). 5 Contl Baking (A).ee % Contl Baking (B).es 62% Contl Can (3.40) .. 33 ‘iO nl. lflu—- 14 P TI S PRI ) w8, o 82 36 3 13 30 4 108 13 208 po - s % ms—na- N A S DO N0 (1 56% 56% llOI 112 112 112 59%, 56% ZivounaBualan « 125 % 37 % 109 THE EVENING STAR, WASHINGTON, D. C, WEDNESDAY lllu lll Ahrhsvl(flullsd 20- um 111% ll%% + % s Ex) FEFE P bty 51 51 26 26 113% 116% +2% SEEES 156% 156's 5 12! 106% 106% + 1254 +1% 671 6 128, 381 T 2 10213 =112 67% —1' M 9 ~y% 81 B4 387 2313 — & 613 + 13 220 — % 37T -4 109 — 1, 18% 19 =1, 8 8 =1, 3% - % 81 231 613 22% 1% 56!6 ~l!u * % 8% — % 28% — % M - % 715 80 -1 80 + 11 -% Prev. 1038 9% 1% 43% 19'/- 117 29%, 3% 41% 1284 24% 16 54 991y 129 107 123‘& 147 20% ™ 29 109% 6'% 8% 3 % 8'3 49': 9% 243 91 ™ 58 6 4'; 13, 20% 3412 110% 1814 56 Sl- 187 91 T4 3% b 271 63% 13412 25% 351 65% 34% 13 3%, :30 p.m. Stock and Low. Dividend Rate. 7 Contl Dia F' (a15¢). 30 Contl Insur (11.36).~ % Contl Motors....... 16% Contl O Del (h50¢). 44% Corn Ex BK&TT (3). 62 Corn Prod Ref (3). 5 Coty Ine... 35% Cream °{h Wht 2% 40% Cuban-Am Sugar bf 41 Cudahy Pkg (2%).. 9314 Curtis Pub pt (7). 2% Curtiss Wright. . % Curtiss Wright ( 73% Cushmans pf (7) 17% Cutler Hammer.... 7% Davega Strs (a10c). 24%; Deere & CO......... 19 Deere&Co pf (320c). 26 Delaware & Hudson 115 Devoe & R 1st nf(7) 26% Diamond M (113%). 34% Diamond M pf (1%) 341% Dome Mines (+3%). 81, Dominion Strs(1.20) 19% Douglas Aircraft... 141; Dresser Mfg A h1% 31 Dunhill Internatl. . 90': Du Pont de N (2.60) 1267 Du Pont deb (6) ... . 104 Duquesne Lt 1st (5) 5% Eastern Roil Mil 110'; Eastman Kod (5)... 141 Eastm'n Kod pf (6). 168% Eaton Mfg (1)...... 374 Eitington-Schild. . .1 211; Electric Auto Lite.. 107 Elec Auto Lite pf 1. 4% Electric Boat. . . 7 Elec & Mus Ind. 114 Elec Pwr & Light 212 Elec Pwr&Lt $6 pf 5 Elec Pwr&Lt $7 pf. 42% Elec Stor Bat (2%%) % Elk Horn Coal (k).. 523, Endicott-John (3).. 14% Eng Pub Sve $5 pf.. 5 Equit Office Bldg. 8% ErieRR.... 10'x Erie R R 1st pf. 81, Erie R R 2d pf 10% Eureka Vac Clidoe)’ 19 Evans Auto P (50¢c) 5 Fairbanks Co pf 17 Fairbanks-Morse. 711 Fairbanks-Mrs pf. 5% Fed Lt & Trac. . 48 Fed Lt& Tr pf (6) 4'; Fed Motor Truck... 3 Fed Screw Works. .. a Fed Water Sve (A) . 18 Fed'd D Stores (11). 30'; Fid Ph F Ins(11.35) 107~ Filene's S pf (6%) 147 Firestone (40c) . 471: First Nat Strs(2%) 19 Florsheim (A)(1).. 2'; Follansbee Bros (k) 20% Food Mach (a25¢).. 12!, Foster-Wheeler. 64 Foundation Co. ... 22% Fourth Nat In h85e. 9 FoxFilm (A)... 35' Franklin Simon pf % Freeport-Texas (1 8 Gamewell Co.. 615 Gen Am Investors.. 34 Gen Am Trans(1%) 13% Gen Asphalt. . . 7% Gen Baking (60c). 514 Gen Bronze. .. 23 Gen Cable... 4% Gen Cable (A) 23 Gen Cable pf. 50'; Gen Cigar (i 127; Gen Cigar pt ( 20% Gen Electrie (60c) .. 32% Gen Foods (1.80)... 597 Gen Mills (3). 281; Gen Motors (1). 107% Gen Motors pf (5) 3% Gen Outdoors Adv 17% Gen Print Ink 1.20.. 931 Gen Print Ink pf(6) 20 Gen Ry Signal (1).. 1 Gen Realty & Util... 16 Gen Real&U pf ww.. 16% Gen Refractories... 16% Gen Refre cctfs. 16% Gen Stl Casting pf.. 131 Gillett Saf Raz (1 70%; Gillett Saf R pf(5 2% Gimbel Bros.... 23% Glidden Co (11.30) 315 Gobel (Adolf) 15% Gold Dust (1.2 8% Goodrich (BF). 45 Goodrich (BF) pf 19'; Goodyear T& R.... 314 Gotham Silk Hose. 21 Graham-Paige 5% Granby Consol 3 Grand Union. . 4 30 Grant (WT)(11%). 31 127% 35 2% 11 39134 36% b 17% 1% 33 0% 55% 4% 16% 3 7 5 42% 16115 6% 33 437 115 57% 3 11 Great Northern pf.. 9% Great Nor Ore (50c) 26% Grt West Sug (2.40) 119 Grt West Sug pf(7) 34 Greene Cananea. . 1 Guantanamo Suga! 4% Hahn Dept Stores. 55 Hahn Dpt Stores pf. 5 Hall W F Printing.. 16% Harb Walker (1). 55 Hat Corp (A). % Havana Elec Ry 2Y% Hayes Body . 85 Hazel Atlas Gl (5) 73 Hercules Pw (13%). 731, Hershey Choc (3). 7 Holland Furnace. 8 Holland & Son (50¢) 338 Homestake M (136). 31 Houd-Hersh A (j2). 7% Houdaille-Hersh B. 13% Houston Oil 2% Houston Oil (new). 43 Howe Sound (3)...3 2% Hudson & Manhat 8% Hudson & Man pf. 8% Hudson Motor Car 2 Hupp Moto 9%, Illinois Central.... 29 Indus Rayon (1.68). 65 Ingersoll-Rand (2). 50% Inland Steel (1).... 4 Insur ShctMd l4c., 1215 Interboro Rp Tr(k). 2 Intercontl Rubber 514 Interlake Iron 31 Int Agriculture 33 Int Agriculture p! 149% Int Bus Mach (p6).. 4% Int-Carriers Ltd 200 251 Int Cement (1).. ... 371 Int Harvester (60c) 1% Int Hydro Elec (A). 214 Int Merch Marine ... 22% Int Nick Can (60c). 17 Int Paper & Pw (A) 615 Int Paper & Pw pf.. 21% Int Print Ink (1)... 98% Int Print Ink pf (6) 14 Int RysCent Am pf. 29 IntSalt (1%3). 43% Int Shoe (2).. 68% Int Silver pf (4) 6% Int Tel & Tel... 10 Interstate Dept Strs 31 Island CreekC (4).. 110 Island Creek pf (6). 42% Johns-Manvill 561 Jones&Laugh 7%pf. 7% KaufmannDeptS40e 15% Kayser(J)& Co 50c. 1 Kelly-Spring T (k). 6 Kelsey-Hayes (A).. 3% Kelsey-Hayes (B) 15% Kelvinator (170c) 15% Kennecott C (60¢).. 28 Kinney (G R) Co pf 20% Kresge (SS )(1) 23% Kroger Gr&Bk 1. 26% Lambert Co (3).... 10% Lee Rub&Tire (50c. 1% Lehigh Valley Coal. 6% Lehigh Val Coal pf. 6% Lehigh Valley RR. 69 Lehman Corp (2.40) 15% Lehn & Fink (1%) . 26% Lib-0-Ford G1(1.20) 8 . 213 Life Saver (1.60) . 24% 22 30% 36%. 104% 1% 2% 15% Lima 17% Link Belt (60¢).. .« 25% Liquid Carb (11%). 31% Loew’s Ino (3)..... 102 Loew’s Inc pf (6%). 14 Loft Ine.....ceanne 1% Long Bell Lum (A) Locomotive 3 . 5 1 1 16% 62 4% 39% 13% 4% 1043 104! 5% 119 5 117 150 170 4 203 109! 4% 6% 15 4 5 43 2% 4% 24 5514 133 21% 2. 11% 11 Gen El spec 60c 3 ll I»SZ 11 4-32 11 4-32 33% 33% 11 34% 3 637 63 28 3 Y 1121 113 BulrraleNaBeatume for e S8 a wEa 0910 =3 100 1t 19 19 b=t 19 b 1 1t 1 1ot 13 89 =3 51 o9 PP T < o —animaBan s Sales— et High. Low. Close. Chge. |Hizh = Low S 8% . 2 3 8{ -1% b 17 =% 45 ; Tl 59 -1 4 ] 6 G 81 27 4 9% 5Y 3 5% ; 4 ; 5 = s | 3 1nuMstPessMisin l4-++ll 63 28% 3¢ 23 993 2:30 n.m. Prev. 1035 Stock and Sales— Acls wv+ FivaNciAL, THE EVENING STAR. WAL SACTIONS ON THE NEW YORK STOCK EXCHANGEsSI[]I}KSSUPBA[‘,K Prev. 1938 Dividend Rate. A“Ool.ll.l'h la-%chn Chse. Ellh h', 36% 34% Loose-Wiles (2. 21% 19 Lorillard P (12.20). 1% 1 Louisiama Oil.. 14% 7% Louisiana Ofl pf. 47% 39 Loulsv & Nash (3).; 6 18% 13% Ludlum Steel...... 2 _— 46 40 MacAndrews & F 13 116% 113 MacAnd & F pf (6). 32 281 McCall Corp (2). 9 MeCrory Strs A ( 8 McCrory Strs B (k) b7% McCrory Strs pf (k) 36% McIntyre Porcu (2) 7 McKesson & Rob... 37 McKesson & Rob pf 12 McLellan Stores (k) 88 McLellan Strs pf (k 22% Mack Truck (1) 36% Macy (R H)& Co(2) 5% Madison Sq Garden 18% Magma Copper (2).. 1% Mallison & Co . 9% Mallison & Co pf. 4 Manat! Sugar pf (k) 17% Man Elevm g (k) ... 1 Maracaibo Oil Exp 4% Marancha Corp. ... 57 Marine Midld (40c). 21 Marlin-Rockwell (2 % Marshall Field. '1'/. Martin Parry.. 25% Mathieson Alk(1 ’6) 39% May Dept Str (1.60) 513 Maytag Co 33 Maytag pf w 8413 Maytag 1st pf (6) 41 Melville Shoe(t2%3) 23% Mengel Copf...... » Mesta Mach (1%).. 2% Miami Copper...... 10% Mid-Cont Pet(h50c) 10% Midland Steel Prod. 61 Mid Stl Pr 1st pf(4) 107'- 105 Minn H Reg pf (6). 5% 4'4 Minn Moline Pow. 0 417 33 Minn Moline Pow pt 2 1 MStP&SSMpf 1 10s 64 3 Mo Kan & Texas... 14': 6% Mo Kan & Texas pf. 3 1% Mo Pacific (k)...... 4 2 Mo Pacifis pf (k) 16!: 13 Mohawk C M (h2 601 55 MonsantoC (1).... 23% Montgomery Ward. % Mother Lode . . 20 Motor Produc 814 Motor Wheel 9 Mullins Mfg. 367 Mullins Mfg pf 14 Munsingwear Inc. 5% Murray Corp. . 13% Nash Motors (1)... 18 NashvChat&StL 30% 146 183, 25% Nat Biscuit 142 Nat Biscuit pf (1).. 15 Nat Cesh Reg A 50c 15' Nat Dairy Prod 1.20 1% Nat Dept Store (k). 21'¢ Nat Dep St 1st pf (k) 24% Nat Distillers (50c) tEn & Stpg (h1). Nat Pwr & Lt (80c) 31, Nat Steel (11%5) ... 8%, Nat Tea (60c). 223 Neisner Bros(+1% ] 2 Newberry(J J) 1.60 51 Newport Industries 23 N Y Afrbrake 13% N Y Central R R 83 N Y Chicago & St L. 12% N YChi& St Lpf.. 118 Y & Harlem (5). k) % N Y Investors (k). 83 2% N YN H & Hartfor 14 6 NYNH & Hart pf. 6 3% N Y Ontario & West 16's 9% N Y Shipbldz (40c) randa Mines (h2) rfolk & W (110). 2 North Am Aviation. 10'« North Am Co (1) . 37% North Am Co pf (3) 57 North Am Ed pf (6) 1'45'. Northern Pacific. rwalk Tire&Rul ) 122 =3 e cam " wrreos ebNeniBudtveaSTeoeieSeeotes 9 915 Ohlo Oil (h45¢).... 3 Oliver Farm Equip. 181 Oliver F prpf A 4 Omnibus Corp. 6 Oppenheim Collins. 15% 13% Otis Elevator (60c) 110 106 Otis Elev pf (6) . 5 Otis Steel..... 223 Otis Steel pr pf. 837 Owens-I11 Glas: 13% Pacific G& E (1%). 20% Pacific Lighting (3) 15 Pacific Mills (h30c) 70 Pacific Tel & Tel (6) 7 Pac W'n Oil (h40c). 4 Packard Motor 314 Par-Publix ctfs (k) 15 Park & Tilford 215 Park Utah. + Parmelee Tran %« Pathe Exchange. .. 13% Pathe Exchange(A) 8'4 Patino Mines. 114 Peerless Motor. 6413 Penick & Ford l3) .. 5 Penney (J C) (2)..0 3% Penn Dixie Cement. 19%2 Penn RR(1)...... 30 Peoples Drug S (1). 18 Peoples Gas Chi. 17 Pet Milk (1). 8 Petrol Corp (h50c). 13% Phelps Dodge (h75¢) 23 PhilaCo $6 pf (3).. 2'2 Phila & Read C & I. 38 Philip Morris (1)... 14% Phillips Petrol (1). 47 Phoenix Hosiery... % Pierce-Arrow (k). 7» Pierce Petroleum. 81 Pitts Coal...... 6% Pitts Screw & Bolt.. 2515 Pitts Steel pf. 14% Pjtts Term Coa! 27 Pitts United C pf 7 Plymouth Oil (1). 714 Poor & Co (B).. % Porto R Am Tob B.. 11 Postal Tel & Ca pf.. 15 Pressed Stl Car (k). 9 Pressed Stl C pf (k) 42% Proc & Gamb (1%). 20% Pub Serv N J (2.80) 8513 Pub Serv N J pf (7) 44 Pullman Ine (3) 63 Pure Oil. 53 Pure Oil p: 4% Radio Corporation.. 60 51% Radio Corp pf A 315 1 35!z Radio Corp pf (B).. 80 1% Radio-Keith-Or (k) 14 18 Raybestos-Man (1). 3 35 Reading (2)... . 4'2 Real Silk Hosle! 3012 Real Silk Hos pf 1% Reis (Robert). . 10 Reis (Robert)ist pt 8% Remington-Rand. . 71% Remington-R 1st pf 2'%: Reo Motor Car. 11 Republic Steel.. 35'2 Republic Steel pf, H Revere Cop (A). 14 Reynolds Metalsl ) . “‘- Reynolds Sp 40c) . 46% Reynolds Tob B (3). 21% Roan Antelope Ltd., 29% Roy’'l 2 h1.30 3-10c. — 46 38y Safeway Stores(3). 110 106 Safeway Strspf (6) 112% 110 Safeway Strs pf (7) 17% 12% St Joseph Ld (40¢c).. 2 1% St L San Fran (k).. 2% 1% StL San Frpf (k).. CHICAGO LIVE STOCK. CHICAGO. March 6 (P. (United States Department of Agriculture).—Hogs, 10.000, % includin ~ - 21% 21 1104 103% 103% — % 5106 104% 104% — % 1 17% 1% 1T% - % 2, 16% 14% 14% —1% 1 19% 19% 19% — % 1% 1% 06 1% - % higher tl ln Tlleld 9.80890. 1a0-100 ”u‘v‘.‘a%' 9.40885: medi T 200-250 nundi .65090: "heavy -'.519' 254 Podlll; s. 9 75 Bl:k ing s, 8.108 :hor‘,ndxot?-uu 5 ) e lnl 15?x|h"hff thn hte“fi{.u'e“k? suu a’"l‘{o'! fln‘n unonut”‘mn i ar 10.50; hu'l"n 5131 ady i vnlen Rt Sy and m nds; 10.00a13 251 Poun: 1,100~ yunds. 10.75814.10; = i, 880- 1500 500:89 M oun 10 75.14 10: ‘{Om-l m dL 5 75.10 7‘5‘ hal‘rl‘ r:- wz fim hedlmn ul{:%i? 19% 1 8% 38% 13 44% 0 445 — 117% 117% +1! % 31 8;'/‘ 13 —-% W FF EF % FEFFERS 1008 107’: 4 4 34 1 1% 3 7 106 106 112% 112% 12% 12% + % h 1W—=% 1% 1% dividends. in stock. 28% 4 2% Schulte Retail strl. 13 Schulte Re Strs pf.. 55 Scott Paper (1.70).. % Seaboard Air L (k). % Seaboard A L pf(k). 21 Seab'd Oll(Dfl)('l) 1% Second Nat Invest.. D. 4% Sharp & Dohme..... 7% Shattuck(F G)26c.. 6% Shell Union Ofl..... 8% Silver King C (40c). 7 SImmonsCo....... 156 Simms Petrol (1). .. 6% Skelly Ofl..... a 17% Snider Packing. . 147 12% Socony-Vac (60c) 111% 107% Sol Am Inv pf(5%). 25 20 Sou Por RicoSug(2) 140 132 SoPortoR S pf (8). 12% 11% South Cal Ed1%).. 13% Southern Pacific. 8% Southern Rallway.. 10% Southern Rwy pf... 3% Sparks-Withington. 33 Spencer Kellog 1.60. 8 Sperry Corp (25¢).. 9% Spicer Mfg......... 33% Spicer Mfg pt (3) 6333 Spiegel-May-Ster: 16% Stand Brands (1)... 3% Stand Com Tobacco 21; Stand Gas & Elec... 3 Stand G&ES$4pf... 6 Stand GRE $6 pf... 8 StandG&ES$7pf.. 29'» Stand Oil of Cal(1). 111 Stand Oil Exp pf(5) 23% Stand Ol of Ind (1) 377 Stand Oil N J($1%) 13 Starrett(LS) (h30c) 58% Sterling Prod (3.80) 6% Stewart-Warner. 2% Stone & Webster. 65 Sun Oil (1), 115% Sun Oil pt (6) 13 Superheater (50c).. Y2 Superior Steel. 1% Superior Oil. 315 Sweets Co of Am 5 6813 118% 16% 9% 5% 8% Telautograph (1) 4% Tennessee Corp. 19 Texas Corp (1) 31%; Texas Gulf Sul 3% Tex Pac Coal & OH 8 Tex Pac Land Trust 21 Texas & PacR 16% Thatcher Mfg ( 3 Thermoid Co. 3% Third Avenue 187 Third Nat Inv hhc. 14 Thompson Products 2 Thompson Starrett. 8% Tide Wat Asso Oil. 5% Timken-Detroit.... 30 TimkenR B (1).... 5 Transamerica (25¢) 6'» Transue & Williams 2% Tri-Contl Corp. 36 Trico Prod (2%)... 44 Truax-Tra Coal 4 Truscon Steel. 18% Twin City RT pf 13 Ulen & Co 56 Und-ElI-F} 44% Un Bag & Faper u) 44 Un Carb & C (1.60). 14% Un Oil of Cal (1) 91 Un Pacific (6)... 11% United Aircraft 5 United Air L vte. 8; United Am Bosch 24 United Bisc (1.60).. 46 United Carbon 2.40 113 United Corp 21% United Corp pt. 10 United Drugz... 5_ Unit Dyewood. 47» United Elec Coal 71% United Fruit (3).. . 9% United Gas Imp (1) 88 United Gas 1 pf (5). 214 United Pap'b'd (k). 2% United Pce DW. 2 U S Distributing. % U S Express. 5% U S & For'n Sec 12% U S Freight (1) 43% U S Gypsum (1). 5 S Hoffman. 36% 9 17 U 5 U S Ind Aleohol (2). 5% U S Leather... U S Leather (A)... USPipe&F (50c). 19% U S P&F 1st pf 1.20. 4% U S Realty & Impr.. 13 .U S Rubber.. . 3114 U S Rubber 1 lzl% 106's U'S Smelt & R (h9). 6273 US Sm &R pf(3%3). 30% U S Steel 78% U S Steel pt (2).... 119% U S Tobacco (17%). 3% United Stores (A).. 52 Univ Leaf Tob (2).. 1% Univ Pipe & Rad. .. 12 Univ Pipe & Rad pf. 1s Util Pwr & Lt (A).. —_—— % Vadsco Sales Corp. . Vadsco Sales pf. Aou. 94 1304 15 ~ 91 Van Raalte 1st pf" 34'x Vick Chem (12.40). 314 Va-Car Chemical... 20': Va-Car Chem 6% pt 7213 Va El & Pwr pf (6). 71 Vulcan Detin (a4).. —_— 31 1% Wabash pt (A) (k). 7 25\. ‘Waldort Sys (h20¢). 1% Ward Baking (B).. 28'; Ward Baking pf (2) 3 Warner Bros Pic... 17); Warner Bros Pic pf 3: Warren Bros....... 23% Warren Fdy&P (2). 301 Wesson O&S(11.25) 72 Wesson O&S pt (4). 37!: West Pa Elec A (7). 38% West Pa Elec pt (6) 41 West Pa Elec pf (7) % 95 West PaPw pf (6). 110% 104z West Pa Pwr pt (7) 9% 6% Western Maryland. 8% Western Md 2d pf.. 2% Western Pacific pf. 231; Western Union. 20% Westingh'se AB oc 35% Westingh'se Elec. . 90 Westingh'se 1st 3354 18'3 Westvaco Chl (40c) 46'; Wheel Stl pf (350c) . 10 White Motor....... 6 White Sew Mach pf. 2 Wilcox Oil & Gas... 53 Wilson & Coal2%ec. 68 Wilson & Co pf (6).. 51 Woolworth (2.40)... 16 Worthington Pump % 31% Worth Pump pf A.. 42% Wright Aero. . 75 Wrigley (Wijr)t: 4 42 21 21% 314 Yellow Truck. . 36 Yellow Truck pf... 18% Young Sp & W t1%. 15's Youngstown S&T. . 4% 3% Zonite Products.... 6 139 139 % — % x‘lh 9 12% — 111% 111% 22% 23% 1% 14% 83, 1n 3% 34% T 9% -1 RALUE 4 sREE I#Q|4+l+|lll 445181 ||+ 4Illlll+|l |§+I FINANCIAL," AFTER BRISK RISE Early Gains of 1 to 3 or More Points Wiped Qut or Greatly Reduced. BY VICTOR EUBANK, Assoctated Press Financ'al Writer. NEW YORK, March 6.—The stock market enjoyed a brief upward spur 1% today following financial news ticke) reports of remarks by the Presiden at a White House press conference regarding the value of the dollar. Early advances of 1 to 3 or more points, however, were later cancele¢ or substantially reduced when an ad- ministrative spokesman made it clea that the Chief Executive had not in. tended to infer that any further cu in the dollar was contemplated at this time. Advances of fractions to around s point were held by United State: Smelting, MacIntyre Forcupine, Case General Motors, American Can anc ,; some others. Evans Products declinec 1, | more than 2 points and a numbe) 4, | of smaller losers in evidence. The 1x | late tone was about steady. Transfer: 1» | approximated 900,000 shares. Y Equities’ reversed their trend anc % | jumped ahead when the news ticker: reported the Chief Executive had saic the value of the monetary unit wa: still too high in relation to debts This, of course, was at first glance seer . |as at least potentially inflationary Gold and silver mining issues led thi initial spurt with recoveries of 1 to : points and the trading volume ex: panded briskly The fervor cooled 1 little later, however, and prices slip ped back from their peaks when i was found that Mr. Roosevelt, ir answer to a query as to whether h¢ meant further dollar devaluation laughingly cautioned his questione: not to go too fast. Among shares recording advance: !of 2 to around 3 points were Unitec ! States Smelting, McIntyre Porcupine American Can and Case. Gainers o a point or more included United State: Steel; Sears, Roebuck; Continenta Can, Loew's, American Smelting Howe Sound, Cerro de Pasco, Chrys ler, Johns-Manville, Columbia Pic tures, Standard Oil of New Jersey Westinghouse, Santa Fe, Union Pa. cific, Delaware & Hudson and Nev York Central. The utilities, such a Consolidated Gas and Public Servic of New Jersey, were fractionally im | proved, but American Telephone wa: just about even. In addition to the Washingtor {scene and the somewhat disturbing gyrations of foreign exchanges, marke: observers continued to point to the importance of the domestic economit picture. Early carloading estimates for the |lnst week, officially published Priday indicated a more than seasonal up- v. turn in traffic over the previous week Chicago Grain + | By the Associated Press. 11" CHICAGO, March 6—Grains soarec 1, suddenly in price today and then suf- 1, 'fered a quick reaction much more 1 |than wiping out gains. 3 The rise of prices followed a rusk | to buy owing in great degree to errone- S8 -1"- ous reports from Washington thai Z §7| further devaluation of the dollar wat probable. An official statement late: « + ', that devaluation inferences were with- + —215 - uot Stocks on the New York Exchange. 260,000 12:00 Noon. 100 PM 630,000 3:00 P.M.. Dividend rates as given in the above table ar cash pavments based on the latest quarterly ‘o 'nh:u-.i.el:‘;lly' declarations s Unit of trading less than 100 shares. % in stock. hPaid last !llr—no' regular rate. Plus $1 in special pref a Pald this year. muinte k Companies reported in receivership or being reor- nPlus 3% in stock. nock stock. e Payable in cash or stock. ®Plus 4% in stock. m Plus 5% in stock. x Ex-didivend, ganized. + 1Partly extra. IPlus b Payable in out warrant led to the ensuing set- back of grain prices. Wheat closed nervous near the day'" bottom level, 3 all; under yesterda: finish; May, 95a95!5. Corn, %all; off; May, 81':a81%. Oats unchangec to % down, and provisions showing 1t | to 20 cents decline. WHEAT— Cpen. High Wion September. . .FSU.- March May . 1ot 0l * | September. . "OATS— 3| July > | September. YE— 1 M ] .e September. 1% | . BARLEY. L 4 a Chicago Cash erket. Wheat, No. 1 red, 98%: No. 2 red 99a99'>; No. 1 hard, 1.0534; com, old No. 3 yellow, 86; new, No. 2 mixed 8434: No. 2 yellow, 87; No. 3 white 90 oats, No. 1 white, 56!;; No. 2 . 54a543;; no rye; soy beans. No. 2 yellow, 1.15 net track country station; barley, 68a1.20; timothy seed, 16.75a17.85 hundredweight; clover seed, 15.50a19.85 hundredweight. Liverpool Quotations. LIVERPOOL. March 6 P tures closed steady. Baltimore o-ommu BALTIMORE. March & wheat. No. 2 red Winter nrhc comestic. .9212; March. 9673, New York Cotton ? | By the Associated Press. NEW YORK, March 6—A midday rally in cotton was short-lived and prices sagged under renewed liquida- tion in the afternoon. May contracts, which had ralliea from 12.31 to 12.40 sold back to 1231 with the general list showing net declines of about 4 to 7 points in the last hour. Liverpool Quo! jons. L. March ). —Cotton. 5.000 bales. including 200 Amenun Spot in limited demand: prices 1 point lower: uuut-uons in_pence, American s!rlcl lond good middling. 7.45; stri mlddllnl "15 stri ct‘lo\ J Accumulated P Plus 2% FOREIGN MARKETS. 3.2504.75: hulh lnnrllnls ucluded) uod 0a8.5 586. 12.000: opening slow, undemne weak to 25 lower on siaughter lambs: feeding Tambs little changed; iking 0 n_better fed Westerns tmfl l‘mm:n gban. rgvl ewe s) and " laml 2 7.7 .65 fe 33:75";:-'.'55'- }ogfa' ’m enotce. 0 7587 50; —_—— FREIGHT LOADINGS. NEW YORK. March 6 (P.—Railroads reporting revenue freight car loadings for the week ended March 2 included: Week Puvlmu Last March 2. xen N. York Mggl.l%fli‘l “W 108,379 R 76 KRESGE VOLUME GAINS. NEW YORK, March 8 (#).—Sales of 8. 8. Kresge Co. in February amounted to $8,975,052, compared with $8,797,055 in the same month last year, an increase of 2.02 per cent. " METAL MARKET. YORK )nrcn ) rm—cng T uiet: " electrolytic. spot and future. Blue 9.00. un< nd b 46%5: futigre, 4u 65 n’:x‘: quiet, . un- changed. Lead steady: few York, 88 kst B u;m .'HO " Zine aulet: !l fi St. Louis. ity xX it m."mfizoo B ‘Antimony, spot. MONEY MARKET. b March 8 (/.—Call money steady: 1 cent all day. Time loans s By the Associated Press. LONDON.—Trading on the Btock Ex. change was dllulrbed today certain forelgn ange situation. “local a) continental ml"ltl differences and defense estimates. Prices to lack of support and some e, ‘eitnedsca securities. A" Ten ToGustrials closed. apove their jowest: and gold shares were reactionary despite a new record high price for bar gol were upset by the Maxican Eagle position. The clozing tone was weak. —The new slump of the guna sterling increased uneasiness on the today and prices declined unerully Rentes were heavier, and issues depending upon the Brussels and London markets aiso dropped. Mexican Eagle shares lost ground. THe Closing was better althougn Weak. —The postponement of Secretary Simon’s visit to Ge: Weaken prices on the Boerse. at the day's lowest level. SAVANNAH NAVAL STORES. ORK. SAVANNAH. March 6 (P —Turpents per flm Mm. u.us 1% reulpu 22; :Mn teady; 60 days-6 months, 1144 e "'e,-"'" rcial paper. ”?9 33 fsa"efi:m?e' 54 Saks Dot ok ce a3 B na O S 0% H and k. 4 n iscount “rate nu“‘fiu 8% % %% e S0