Evening Star Newspaper, March 13, 1935, Page 15

CURBLIST TAKES UNEVEN COURSE Market Changes Range From 13/ Lower to Point Higher Near End. By the Associated Press NEW YORK, March 13.—Trading today on the New York Curb Ex- change was irregular, with changes ranging from 1% lower to 1 point higher. Gains were registered by such stocks as American Gas & Electric, Distillers Corp. Seagrams, Hiram Walker, Mont- gomery Ward A, Parker Rust Proof and Wright Hargreaves. Fractional losses were recorded for Creole Petroleum, Electric Bond & Share, Lake Shore Mines, Newmont Mining and Swift International. BONDS ON THE CURB MARKET. DOMESTIC BONDS. High. Low. Noon Amer L ¢ Am Seating tis Appalch Pow Apich Pw Gs Arkans P & L Asso Asso Asso Asso Asso Asso T & Bel Tel Can *l min * | Chicago Mail Order ow G Cudahy Pkg I)H ver 3 \ Dictograpb Prod. 210838 41041 99 1013 104 100 By & L 65 A 8ou Calif Ed 5s Sou Cali G 4's A Staley Mg s '4: SmnG.{Ecvv‘( 5 Stand G Stand G & Stand }’mm 5 York Rwy b8 FOREIGN BONDS. Buen A P Mendoz Pr ‘\ ‘51 Pled Elec ’;‘ A 6 Rio de_Jan 615 Ruhr G C 8's A Rus 6%2s ctf N C 'l ww—With warrants xw—Without warrants, n—New. rl—-wh:n fssued, —Stampved. ‘Ne:o(lnbmly \mpaired by maturity. Companies reported in receivership. NEW YORK PRODUCE. NEW YORK, March 13 (. —Butter. 1 K erelmerv higher than e 2832 tra (92 score). 31a31 P ] scorm. 30%a31; centralized (90 score), 30%. Cheese, 285 02 prices unchanged eus. , 48,500 d ‘medium S5 ofer mixed colors wnchansed. L)ve nnultry “firm. By freight; cmckem. 15a1R: broflers, unquoted: fow! 022 Joni:, bratiers,, unadoted;, TN, T883H PHILADELPHIA PRODUCE. PHILADELPHIA. March 13 (7. —Dressed poultry. fowis, 19a23%: live poultry un- changed. RUBBER FUTURES. . NEW _ YORK. March 13 (# -—Crude rubber futures opened steady. 2a7 higher. ch, *11.56: May, .fi 65: July, By private wire direct to The Star. Stock and Sales— Dividend Rate Add 00. High, Low. 2:85. Afnsworth (p%). f 20 20% Ark Nat Gas ~ % Ala Pwr pt (T) 608 48l 48% Allied Mills, Ino.. 26 184% 13% Alum’'n Co of Am. 400s 344 34% Alum'npf (1%).. 50s 0% 70% Aluminum, Ltd. 1 o Am Beverage..... 3 1% 1% Am Cities Pwr 20% & Light A (8) 1008 Am Cities Pwr & Lt B (k10e) Am Cynam(B)400 Am Equities k10c. Am & For Pw war Am Founders. ... Am Founders ist pf (D).. 258 Am Gas & E11.40. 16 Am Gas&El pf(6) 200s Am Laundry (40c) 100s Am Lt&Trac120. 2 Am Maracaibo.., 14 Am Superpower.. 56 Appalacnan Eleo Pwr pf (1) 208 Ark Nat Gas (A). Armstr Cork (50¢) Ass0 Gas&E) (A). Atl Coast Figher. . Atlas Corp. Atlas Corp war Anto Vot Mch 50¢ 11 18 2 1 4 3 30 2 2 Babcock & Wil 40c200s Bellanca Atfreraft. 1 | Baumann (L) pf.. 108 Benson & Hedg pf 1 Blue Ridge Corp.. 1 Bower Roll B(1). 2 . | Brit Celanese Ltd rcts Brown Forman Buft N&EP pf 1.60 | Bunker Hill&Sul Burco, Inc. ... Burma Ltd (k9 Butler Bros 7-100) Can Indus Alco A. Can Marcont | Carib Svndicat | Carnation Co (¢ Carrier Corp | Catalin Corp | Celanese 1st pr (1) Celluloid Cp 1st pf | Cen PRL 7% of | Cent States Elec cv pf(new) 2008 Cent States Elec 6% pfxw 1 | Cent States Elec 7% pt 24 16 268 9 208 2008 | 1% Chiet Consol Childs Co pf. Citfes Service. Cities Service pf Clande Neon Lts. | Colon 0l | Colt's P F. Columbia Gas & | Elec cv pf 16) 1508 Columb O & G Vte | Com*witn | Comwitha | Compo Shoe (50¢) | Cons Ailrcraft. "(‘nn\ Copper.. Cons Gas of | Ealto (3.60) LDI!! Retall Stores iyt Creole Petrol'm. . | Crocker Wheeler. | Croft Brewing | Crown Cent Petm. | Crown Cork Intl | (A) (mT5¢) Cusi-Mexicana M | | lm,i | Distillers Crp-Sea Distilled Liquors. | Doenler Die Cast. Dow Chemical (2) Duval Tex Sulph. tes Pwr. Jastn States Power (B) on Bros S (1) lec BA&S pf (6) Slec Pwr As (40c) | Elec Power Asso ¢ Share pf ww mp G&F 1% of .. p Pyropt k1), quity Corp. European Elec Ltd deb rizhts Ex-Cell-0 A&Tool Fairchild Aviat'n. alsiafl Brewery. edder Mfz (A).. Ferro Enamel 60c. elio Brewery . . ire As Phila (2) Fisk Rubber. | Fisk Rubber pf (6 1508 | Flintcote A p25c. 4 | Ford Mot Can (A) (k1%) 19 Fora Motor Ltd. . 4 258 11 Garlock Pack'g(1) Gen Alloys. Gen Invest LOPD Gen Invest pf. Gen Rayon Ltd A. Ga Pwr$6pt ... 268 Glen Alden C 1% Gold Seal Electric Gorhm vtc ex ps0e Grand Rapids Varnish (50¢) 1 Gray Tel Pay S(1)2508 Great Atl & Pac Tea n-v (17). Great Atl & Pac Tea 1st pf (7). Greynound (Del). Gulf Oil of Pa. 15% * 57 16% 4 1 4 1 2 1 6 & 1 13 5% 5% 9 125 125% % 1508126 125 258125% 125% 21 32 314 7 50% H0% Hartman Tobacco 2 Hecla Mining Helena Rubenst'n Hayden Chm t1% Hollinger G t75c. 10 16% Horn&Hardt 1.60. 25s 224 Horn&Hardt pf(7; 40s 104 Hudson Bay M&S 712 Humble Ofl (1), 6 46% Ilygrade Food. 2% % 6 %% 43 43 16% 16% 22 22% 104 104 12 12 45% 46Y% 2% 2% 1 2 43 Imp OII Ltd coln 15% 2 15% 156% 524 4 14 28% 2% North Am (2) Intl Hydro Elec System cv pt 226s tntl Mining(k16c) 1 intl Petrolm (12). 17 Intl Products. ... Interstate Pwr Del pf Irving A C (p10¢) 5% Jones & Laugh Su 18 Kerr Lake. . hingsbury Brew. Klein(DE)Cot1% Lake Sh M (14) . Lefcourt R pf(1). Lehigh C&N(50¢) Leonard Oi1.....,. Lerner Stores. . Libby McNelll&L. Lone Star Giplbe) Long Island Lizht Long Island Light ot B (6) Loursiana L & Ex McCord Rad (B) McWill'ms Dr (2) Mangel Stores Marion Steam Sh. Mavis Bot «Aiir) Mich Gas & Oil. Michigan Sugar. Middle States Petm vic (B) Mock Jud Voe (1) Mohawk Hudson 1st pf «4) 1008 33 Molvbanenm .. 31 10% Mont Ward(A)(1)100s 136% Murphy Co (160). 1 ¥3% Nat Bella He: 13 1% % % 1 1 3 33 9% 10% 135% 136% 8315 83k 1% 1% | Reybarn Co. | Seaboara Ut .. ! W Va Coal & Coke 106 106% 12% 12% Nat Dairy pf A(7) 508 106% Nat Fuel Gas (1). 5 12% Nat Investors. 5 % P % | Nat Pw&Lt p! 1508 48 470 4x 2 Th ™ Tk Nat Rubber Mach. Nat SugarNJ (3), . 8 32% 32% 32% Stock and les— Dividend Rate. Add flfl High. Low. 2:55. NatomasCot60c). 19 9% 9 9 New Brad Of1 20c. 2 2 2 New Mex&ArizLd 3 1% 1% Newmont M k1), 5 35 34% 35 N Y Shipbuild'g.. 1 5% 5% Niag Hudson Pwr 40 2% 2% Niag Shrs(Md) B. 21 2% Nipssing (k12%c) 2% 2% Noma Elec Corp. ., 1 Nor Am L & Pwr. [ Northn Cent Tex. 2% Northn N Y Util of (7). Northern State Power (A). Novadel Ag (2) Pacific Eastern. .. Pac Gas & Elsc 1stof (13%) Pan-Am Air1)... Pantapec U1l Parke Davis $1.70. Parker Rust P(3) Pender Gr(A) 3% 508 36 Pennroad Corp... 11 1% Penn Mex F k75e. 1 Pepperell Mfg (6) 208 Perfect Circle (2) 508 Phoenix Secur. 21 Phoenix Secur pf. 8 Ploneer Gola Mines Ltd(80¢c) 23 Pitney Bo P (20e) 6 Pitts Plate Gl (2) 1008 Pond Creek Pocahontas (2). Premier Gold 12¢. 4 Prod Rovalty 2%e 16 Prudential Invest 1 Puget Sound P&LS6pt.. 20 Pure Ol pf . Pyrene Mfg Co 2 19 1 4 28 2 50e 8 66% 1 Quaker Oats pf (6 208135 185 135 tainbow Lum (B) Reliabie Stor: Revnolds invest tike Krumler (1) ll'l(V val Tvpewriter 2 6 1 s t Anthony Gold. 10 St Kexis Paver 16 St Regis Paper pf. 508 2 Salt Creek P (80¢) 1 Schiff (TheiCoi2). 1 Schulte Real Est. 10 Scovill Mfg (1)... 258 1 3 1 Secur Corp Gen. Segal Lock & H... Selected Indus allot ofs (334) . Selfridge (k9 3-5¢) Sentry fe (v Con Seton Shattuck Den i Shawinigan Wat & Pwi50c) 1 Sherwin Will (2) 3258 Singer Mfg (1815) . 308 242 Smith (A O) . 3008 Sonotone Corp... 5 South Am Gold & Plar (k30e) Scuthn Calif Edispf Ri11). Southn Calif Edison pf (1%) 258 Spileg-M-S pf(é%) 50s 9 Stand O Kv(11%) 4 Stand 01) Ohlo.., 808 Stand Pwr&Lt Stand Siiver & L Stutz Motor Sun Investing. Sunray U1l Sunshine (30 Swift& Co (v Swift Intl «2). 50s 3 10 9 aguart Corpn. .. Tastyeast. Inc(A) Teck Hughes(40c) Texas Gu Products(b10) Texon O&Ld(60¢) Trans Alr Tt sta Trans-Lux Daylite Picture Sn (2ve) rubize Chaulllion —_—e Union Am invest. 100s Union Gas of Can | Union Tobaceo 3 UnitCarr Fal).. 1 Unit Founaers Unit Gas Corp. Cnit Gas Corp war Unit Gas Corp ot . Unit L1&Pwr (A). Unit Li&ePwr pt.. Unit Molass Ltd N KRSwe 50 ) Unit Shoe M(T4% Unit Verde Ex 40¢ Utilities Pwr&Lt. Utilities P&L (B) Utility & Indus pf o N Venezuela Mex O. Waco Atreratt. Waitt & Bond ( Walgreen Lo war, Walker «Hiram). Wenden Copper o e 3 1 6 Westn Air Exp(n) Western Auto Supply A «3) 1 5 Westn Pwr pf (7). 258 1 Witson Jones (k1) 1 2 Woodley Pet(zuc) 3 Wright Har(160c) 26 _— Y ukon Golg. . 3 Divideno rater in doliars based on last quariely or semi-annual exrn [ Uk WPaid ast year- mArcumulnled dividends 10% 10 stcck D Paid this year—no reu- far* ate "'f Companies reporied in receiver- ship or velng reorganized SStocks fully listed on the Curb Exchange: others are aealt in s unlisted tssues ¥ Ex dividend —_———————— LEVELS MAINTAINED BY HARDWARE SALES Special Dispatch to The Star. I NEW YORK. March 13 —Store sales | of hardware held their own during | February better than most other branches of everyday retailing. House- hold supplies of all sorts, with elec- trical appliances and equipment, seem to have made the best records. Not all sections of the country fared equally well and comparisons with & year ago varied sharply with irregular weather influences, Hardware Age will say to- morrow in its market summary. Agricultural areas were generally ahead of industrial sections in their demand for supplies, with the best re- ports still coming from the South and Southwest, where Government spend- ings are registering strongly. | Staple Spring lines have not yet hit their stride in most sections, but the better stores have confidently stocked up. in INSURANCE STOCKS NEv. YORK. March 13 (#.—New York Security Dealers’ Association Asked. Actoa Cas (215°) 0) b Aericultural (3) Am Ins Newark () Am Reinsur (2%) Am Surety (1) Automobile IH Balt Amer (10t} Bosten (16) - Carolina (1.1 Glen Fails (1:60) xa Globe & Rut er Hanoyer (1.60)" Hartiord Fire (2) Home Fire Sec. Home Ins (1.05%) Lincoln Pire .. | . Sprinofieid (4% Sun Life Trl'ehn (16) U S Fire (1.40) Westc iester ~(1.10) *Including extras. tDeciared or vaid so far gs year. Lambert Co. 1934 common share rnings wers S.E.C. STIMULATES PRIVATE FINANCING Registration Form A-2 Gets Credit for Increase in Capital Issues. BY J. G. DONLEY. Special Dispatch to The Star. NEW YORK, March 13.—The issu~ ance of capital securities is on the in- crease, due largely to the Securities and Exchange Commission’s willing- ness to be reasonable. That reason- ableness was given expression only a short while ago in the new form, A-: for registering securities with the com- mission _under the securities act of 1933. Technical difficulties largely have been removed. Investment bankers are greatly en- couraged over the outlook for doing some business and making a normal profit. After many months of “every- thing going out and nothing coming it seems likely that the most im- portant early result of the breaking of the log-jam in the capital market will be an improvement in sentiment. And it is not at all unlikely that some of the better feeling may be trans- mitted to the brokerage and stock trading fraternity. Restricted to Refunding. So far, 1t is true, the business in | prospect is all in the nature of re- funding. It is being undertaken not for the sake of raising new capital for | £ 503 86" improvements or expansion, but with | the purpose of making a saving on in- terest charges, a total of about $800.- 4 | 000,000 of such refinancing 1s expected | if the investment market remains in the mood to take the new securities Annual savings in interest will run | around 1 to 112 per cent on this sum. That would amount to between eight and twelve million dollars on the aggregate principal. Some part of these savings will eventually find their way into plant improvements, wage envelopes and dividend checks. But what the country needs more than any one thing at the moment, perhaps, is such an increase in the employment of capital as would fol- low a broad movement of financing to raise new money. Refunding has no broad significance, unless it leads the way and opens the road for floating new capital issues. There is the hope that it will do just this by encouraging corporations in need of funds to believe there is no longer reason for fearing the restrictions or penalties of controlling legislation. Nothing removes fear so much as the good example of those who are un- afraid, Two Large Issues Cited. The extent to which refunding is opening up the capital market will be appreciated when comparison of two issues recently announced is made with financing in the first two months of the year. The Swift & Co. issue involves $43,000,000 in bonds, and the total for Pacific Gas & Electric is $45,000.000. The $88,000,000 total of these two issues alone compares with an aggregate of $37,517,000 in corpo- rate financing for the months of January and February, as compiled by the Financial Chronicle. And Com- missioner Landis has announced that two other large corporations are pre- paring to register new bond issues which will amount to $50,000,000 each. (Copyright. 1935.) U. 5. TREASURY POSITION. By the Assoctated Press. The position of the Treasury for March 11 was: Receipts. $2K.421.169.06; expendi- tures, $40, R} $2 04N, for the . balance, receipts 14 Recelpts for the fiscal vear (since .'ul! - expenditures including $.44 30 ‘of emergency of _expenditures. old assets. SK.54K.K51.0 Recelpts for ‘March 1( ble date last year). SK penditures. $ 0 498 04 $4.816.124.040 customs thé month, S8,556.23% 6; 5843927 e et balance, receipts PROTECTION URGED FOR SUGAR FIRMS Competition From Philippine, Cuban and Puerto Rican Imports Cited. By the Associated Press. NEW YORK, March 13 —Protec- tion by the Goverrment for domestic sugar refiners against Cuban, Puerto | Rican and Philippine competition was | asked today by the American Sugar Refining Co. in its annual report. “It is carnestly hoped that our Government will afford early relief to domestic cane refiners,” the report stated, ican industry will not be crippled ir- reparably.” The report pointed out that re- finers asked for rclief to regain their volume and not for higher prices. “Refined sugar prices in this ccun- try are determined by domestic com- | petition, which is always severe” it | said. “If tropical refined sugar were | excluded, domestic refiners’ would increase and their unit costs would go down. would increase employment for Amer- ican labor. “This would reverse the present sit- | uation, where, with millions of Amer- “30 that this essential Amer-|;. | Alus-Chaimers Co. 55 “Restoring domestic refiners’ volume | & icans out of work. and billions of | dollars being appropriated to provide | relief for them at the expense of the | American raxpayers. including the do- | | mestic sugar refiners the United States |in effect subsidizes Cuban, Puerto | Rican and Philippine refiners, and | permits their tropical labor o take away the jobs of American citizens heretofore normally employed in sugar refineries in this country.” The company said the Cuban re- | finers sends his refined sugar into the United States at a duty of 0.954 cents a pound whils the domestic re- finer pays 0.963 cents duty on enough | Cuban raw sugar to make a pound of | refined sugar in the United States. The report shows a net profit for the American Sugar Refining Co. m‘ 1934 of $4,752,353, against a net in 1933 of $4,801,574. | —— NEW YORK BANK STOCKS NEW YORK, March 13 (#).—New York Becurity Dealers’ Association: (Opening Quotations.) BANKS. Manhattan 0. Shtional &ty 15 Commercial (R) Pirst National (100) Public (1%)_ TRUST CO“FANIES Barkers' (1) Brooklyn_Truss (4) Central Hnnuvu ( Corn Exchange (3). Empire (1) Guaranty (20). E 263 | Irving (1) 2 Manufacturers’ * (1) New York Trust (5) Title Guaranty & Trust.. wyers County ..... “Includes extra. —p SHORT-TERM SECURITIES. (Reported by Chas D. Barney & Co Offer. Amer.Beet Bugar s T Am ‘Tel. & Tel. b%s Atlantic' Refining 5s Bethlenem Steel 55 volume | & Central 43 1040 Nu Yo "k CrnArn.'n\" T4 p Tron & | Sinclalr (‘an« on Wabach Ruy Go. s 103 Warner Bros. 6s 1039 THE EVENING STAR, WASHINGTON, D. C., WEDNESDAY, MARCH 13, 1835 s A—IS AR, WASHINGION. D. 0. NENERSUEE, NOROE W BB e S% AR N. Y. CURB MARKET DIVIDENDS ANNOUNCED NEW YORK, March 13.—Dividends de- clared (compiled by the Standard Sta- tistics, Inc.) Extra, ock of Rate. Fioa Fecord 3-18 3-15 Pay- able. 4-1 41 Company. | Angostura - Wupper- ann Corp .BC .. PlnnyPnrm!rClndy Resumed. Phila anl lmur- ance Co 4-15 Accumulated. Mfg ceee.$130 .. Increased. Providence Washing- ton Insur ..... Regula Burkart (F) (7 41 | Aetna_ Insur Co Angostura- Mpnn-’ mann Co Bagk 'of New York | Bank “Btock” " Trust Shares, ser C-] % o Bank “Stock Shares, ser = 202208 Co e < reg . Boyd-Richardson 1st pf 8 . Diamond Shoe 2% $1.6 E ?xrr Safe’ Dencu 0 Ir\ P\.u. (fknmy, Ltd,’ Island Creek Gosl Co; Isiand Creex Coal s Mnrhlm\ Blnk 0! Corp pf Nat Licorice G0’ Ogllvie Flour Mill s | Preumatic Scale Corb 00 0OOOO OO OO® KEO © O ° ta: < Pmcur & Gamble Go pL > R-lgmxc Inivestors u Spencer Truk Fund “Rediiciion 00’ DOOOD Cclonial Beacon Oil Co.—1934 defi- cit was $3,125,645 vs. deficit, $2,775,» 104. wilders of Our Country Their savings, entrusted to this Company from the pioneer days of the industry, have made possible our contribution to the progress and development of the communities We Serve. We hold fast to our old standards of loyalty to the public, to our workers and to our shareholders. THE UNITED Think it over, Uncle Sam! GAS IMPROVEMENT COMPANY 1882 = THE OLDEST PUBLIC UTILITY HOLDING COMPANY IN U. S. A. — 1938