Evening Star Newspaper, March 14, 1935, Page 18

A—18 w¥» PROGRESS MADE ONFROZEN ASSETS Some Institutions Expected to Pay Nearly 100 Per Cent of Deposits. BY EDWARD C. STOM Several banks in this city which have been in liguidation since the Spring of 1933, around the time of the Nation-wide bank moratorium, ap- pear to be making very substantial progress in thawing out frozen assets and speeding up payments on loans. While it may be some time before turther so-called dividends are dis- tributed. yet it is plain that Govern- ment officials believe some of these institutions will eventually be able to return not far from 100 per cent of the funds due waiting patrons. The first definite line on what the losses may be in 19 closed banks in Washington has come out in connec- tion with allowable deductions in in- come tax returns. The suggested de- ductions are unofficial but at the same time are authentic and will be al- lowed by the Internal Revenue Pu- reau. Of course, over a period of ume the closed banks may be able to pay cut more than the figures indicate. On the other hand, the amounts stat- ed may be very close to the final wind-up. The st indicates that the old Sev- enth Street Savings Bank is doing especially well in closing out its af- lairs, as only 3 per cent can be de- ducted for income tax purposes. The bank has already paid 80 per cent to depositors. The Departmental Bank has also paid 80 per cent, leaving a rossible deduction ot only 10 per cent of the original deposits. Two Small Banks Top List. No deduction is allowed in case of | the old Chevy Chase Saving Bank which has already paid 65 per cent and is now a unit of Riggs National. Evidently United States offiicals ex- pect the Chevy Chase institution to pay practically 100 per cent. It is put in the same class with the Woodridge- Langdon Bank at the top of the list of best prospects. In the case of the Brightwood Bank, which has paid 35 per cent in dividends, 40 per cent may be deducted from tax returns. The Commercial National deduction 1s placed at 30 per cent. The bank has already returned 50 per cent to depositors. It is evident that the Dis- trict National will finally pay about 80 per cent as the deduction suggested is placed at 20 per cent. The bank | has already paid 50 per cent to former | depositors. For the Federal-American the deductable sum stands at 35 per | cent, the bank having paid 50 per | cent when it was reorganized as a part of the Hamilton National. In case of the International EX- change Bank, losses of 57 per cent may be claimed, 31 per cent having | been returned to depositors so far. | The outlook fcr the North Capitol Savings Bank appears none too bright, 65 per cent being suggested as a de- | duction, with 25 per cent having been paid to date. The Park Savings out- look is also gloomy. Depositors may take off 70 per cent while they have received only 25 per cent to cat2. Washington Savings Does Well. Potomac Savings Bank's deduction is 25 per cent, 50 per cent already having been paid. The United States Savings deduction is placed at 15 per cent. This bank has paid off 65 The Woodridge-Langdon Bank appears to have extra good liquidating pros- pects, as no tax deductions are per- mitted, and the bank has already paid ©off 50 per cent to depositors. | Another one of the smaller banks which deserves congratulations is the | Washington Savings Bank, which did | business at Tenth street and Grant | place for many years. This bank has already paid back 70 per cent to patrons and only a 10 per cent loss can be claimed in tax statements. No amounts are stated for the former Franklin National Bank and the Mount Vernon Savings Bank, two institutions which are now active units in the City Bank. It is possible that a definite figure for these banks will be fixed for income tax statements next year. In the meantime depositors will have to make whatever deduction claims they consider proper. There was another grand rush of bank patrons today to consult the In- ternal Revenue experts in the lobbies. Deductions of bank losses were being claimed according to the above schedule, which was announced early this week. The percentages have been # tremendous help in the compiling of returns. As Eccles Sees Banking Bill. In urging favorable congressional action on the banking act of 1935, Gov. Marriner S. Eccles of the Federal Reserve Board says in Sphere: “Broadly speaking, there are four mein objects which we seek to ac- complish in the banking bill of 1935. In the first place, we wish to make the banking system a more efficient instrument for the promotion of stable business conditions in the fu- ture; secondly, various proposals in the bill are designed to bring our banking system into closer conformity with modern conditions and, more immediately, to aid in business re- covery; thirdly, we seek to make cer- tain rather fundamental changes in the law relating to deposit insurance in order to make the system sounder and more equitable; and, finally, we seek to correct various inequalities, ambiguities, and abuses that have developed in the banking system in the course of time. “I am here merely stating the broad principles involved. I should not like to be understood as arguing for a highly centralized control of all banking activities. Local versus na- tional control is not a subject on which one should take sides irrespec- tive of the question at hand. The ad- ministration of certain interests can obviously be handled more efficiently locally. Similarly, there are other things which can be handled more efficiently on a national scale. We should consider each case on its merits and provide for local control or national control, whichever is in the public interest. “The fundamental premise under- lying the bill is that business stability is a desirable objective.” Gleaned in Financial District. All sales on the Washington Stock Exchange today were confined to Mergenthaler Linotype, five 10-share 1ot transactions taking place at 30, un- changed from other recent quotations. Other bid and asked prices were firm. American Telephone was quoted ex- dividend. All banks in this district have been advised that if third-called fourth 4Y, per cent Liberty Loan bonds are tendered after March 15 for exchange for 2% per cent Treasury bonds ac- crued interest on the 2% per cent bonds will be paid for the period from March 15 to the actual delivery of the fourth 4%s. Interest on $1,000 for one day at 27 per cent per annum, figured on a semi-annual basis, is $0.078125, 2 FINANCIAL. TRA By private wire direct to The Star. 2:30 p.m, Sales— Add 00. Prev. 1035 Stock and High. Low. Dividend Rate. 3e% 36 Abrm Strauss 11.80 4% Adams Express 3:1! 2815 Adams Millis (2) 11% 8 Addressograph..... 6% 5 Advance Rumley... 83 115 1 108 9 63; Affiliated Prod (60c x 109 Air Reduction (3) 1 Air-Way Elec Appl. 15% Alaska Jun (11.20). 2 Albany Wrap Paper 1 Alleg Corp (k)..... 3 Alleg pf w$30w(k). 3 Alleg pf w§40w (k). 24 Alleg ptx w (k). 21 Allegheny Stl (1) 130% Allied Chem (6) 12 Allis-Chalmer: 2% Amal Leather 481: Amerada Corp 45" Am Ag Chem Del¢2) 1312 Am Bank Note..... 43 Am Bank N pf (3).. 2274 Am Brake Shoe 80c. 110 AmCan (15). 10 Am Car & Foundry. 25'5 Am Car & Found pf. 8 Am Chain.... 2% Am Colortype. - 223 Am Comecl Alcohol. 614 Am Crystal Sugar. . 57% Am Crystal Sug pf. 360 1% Am Ensaustic. . 2 Am & Foreign P 131: Am & For Pw pf (6) 4 Am & For Pw 2d pf. 10': Am Hawaifan SS(1)x 17 Am Hide & Leath pt 30% Am Home P (2.40). 313 Am Ice Co 4% Am International . 1% Am La Fran pf lk) 9 Am Locomotive. . 233 IRH Am Mch & Fv llOc) % Am Mach & Metals. 7 Am Mach & Met ctf. 171 14 Am Metals 26 24 AmNews 3% 1': Am Power & Light. 13 PZ". Am P&L $5 pf (1%) 15% 10'x Am P&L $6 pf (1%) 16'» 11 Am Radiator...... 138 1341 Am Radiator pf (1) 24 163 Am Rolling Mills. .. 75% 67 Am Saf Raz (15%). 6% 413 Am Seating. 26'% % Am Shipbldg (2 40 323 Am Smelt & Ref 112 103 Am S&R 6% pf (. 18% 12'4 Am Steel Foundry. . 92 88 Am Stl Fdry pt (2).x 20s 341 Am Stores (123%) Am Sug (2).. 20% 245, 181, Am Sum Top (1). 107% 102% Am Tel & Tel (9). 77 Am Tobacco (5).. 78« Am Tobacco B (5).. 10 Am Type Fdrs pf(k} 7's Am Water, Wks (1) 475y Am Woolen. . 357 Am Woolen pf. 4 Am Writ Papel 27 Am Writ Pap pf 11() 3 Am Zinc & Lead. ... 36 Am Zinc & Lead pf. 8 Anaconda Copper. .. 162 Anaconda Wire... 15 Anchor Cap (60c) ... 36 Archer-Dan M 1% . 997 Armour Del pf (7). Armour of Illinois. €0% Armour [11 pr pf (6) 4 Arnold Constable 4 Artloom Corp 7' Asso Dry Good: '« Atch To&S F (h2). 744 Atch To&S F pt lS) 20'« Atlantic Coast Line 21% Atlantic Ref (1)... 36 Atlas Powder (2). 1063, Atlas Powder pf 16) l‘lOs 4 Atlas Tack. Auburn Auto. 14 Austin Nichols. 65 464 Austin NichpfA 5. 5% 3 Aviation Corp Del.. Iln 16 1%; Baldwin Loco (k).. 14 9 Baldwin Loc pf(k). 1 71; Baltimore & Ohfo... 29 9'4 Baltimore & Ohio pf 2 1003 Bamberger pf (6%) 20s « Barker Brothers, . . 2 2'; Barker Brothers pf. 10s Barnsdall Corp..... 37 Bayuk Cigar (b4).. 1 107% Bayuk Cig 1st pf(7) 10s 16's Beatrice Cre(a50c). 5 114 Belding-Hem asle. 1174 Bendix Aviation. .. 151s Beneficial Loan 1%. 34 Best & Co (2) 12 Bethlehem Steel. 60 Bethlehem Stl pf... 16 Bigelow-San Corp.. 9% Blaw-Knox 1031, Bloomingdale pf (7) 303 "« Boeing Airplane. . u 49%, Bohn Alum&Br (3) x 90 Bon Ami (A)(15).. 100- Borden Co (1.60)... 50 281 Borg Warner (1%).x 12 41x Boston & Maine.. . .. 241; Briggs Mfg (2) 231 Briggs & Strat (3).. 32 Bristol-Myers $2.40. 36% Bkin-Man T(a75¢).. 90 Bklyn-Man T pf (6) 46 Bklyn Union Gas(5) 53 Brown Shoe (3) : Bucyrus Erfe.. qv. Bucyrus Erie cv pf. 65 26% 110 9 24% Budd (E G) Mfg pf. 27 Budd Whee! 81, Bullard Co. 374 Bulova Watch. 13% Burr Add M (60¢c).. 12 Bush Tr Bldg pf et. % Butterick Co. . 115 Byers (A M). : 36; California Pkg(13) 13 Callahan Zinc 21: Calumet & He 71: Campbell-Wyant. . . 9% Canada Dry G A (1) 9% Canadian Pacific. .. 3212 Cap Admin pt A (3) 48% Case (J I) Co. . 86 Case (J I)pf(4) 3614 Caterpillar Trac(1). 20% Celanese Corp...... 1314 Celotex Co pf (K)... 22% Cent Aguire (1%).. 37 CentralRROfNJ.. . 981 Century Rib M pf 7. 38% Cerro de Pasco (2). 3% Certain-teed Prod.. 3714 Ches & Ohio (2.80) . 36 Chesap Corp (3)... 1% Chi & East I11 pf (k) % Chi Great Western. 1% Chi MilStP&P.... 2 ChiMilStP&Pof. 2% Chi & Northwestrn. 47; Chi & Northwest pf. 4% Chi Pneumatic Tool 20 ChiPneu Tool pf... 1 ChiR1&P (k)..... 1% Chi R I&P 7% pf(k) 25% Chickasha CO (2).. 4 ChildsCo....... 31 Chrysler Corp (l).. 20 City Ice & Fuel (2).x 87 City lce & F pf 635 .. 100 115 % City Stores (k). % % City Stores ctfs (l) 180% 1617 Coca-Cola (8). . 18% 16% Colgate-P-P (50¢).. 9 Collins & Afkman... % Colo Fuel & Iron(k) 7 Colo Fuel & Ir pf(k) 10% Colo & South... . 7 Colo & Sou 1st pt. 3% Col Gas & Elec..... 35% Col G & E pf A (6).. 32% ColG&Ept B (5).. 34% Colum Ple vte (m1) 67 Columb Carbon (4). 3914 Comcl Credit (2)... 57'/. 5215 Come! Credit(A)(3) 32% 29 Comcl Cred pf (1%) 113 109% Comel C 1st pf(6%) 33 20% Comel Cred (B)(2). 62% 56% Comel Inv Tr (2%) 23% 17% Comcl Solv (185¢). 1% % Comw & Southn, 5 40% 29% Comw & Sou pt ( 347% 28% Congoleum-N(1. 60) 10% 7% Consol Cigar....... 71% Con C pr pf ww 6% . 4% Consol Film....... 18% Consol Film pf (§2). 15% Consol Gas N Y (1). 2% Consol Gas pf (5).. 6% Consol Ofl (h42e)... 2% Consol R R Cuba pt % Consol Textile. . 10% Container Corp (A). 3% Container Corp (B). 4% Contl Baking (A)... % Cont] Baking (B)... 46% Contl Baking pf (4) 62% Contl Can (2.40)... 7 Contl Dia F (a15 28% Contl Insur (11.3 % Contl Motors. . ... 15% Cont O(Del)al2%zc. 7 26% 25 4% 29% T3 421 22% 96 - 0 - BrorroindaoranenSoamp=n o - «588 {28F o ‘ 28’5. 9% 5 % THE EVENING STAR, WASHINGTON, D. NSACTIONS ON THE NEW YORK STOCK EXCHANGE Bigh. Low. Close. Chge. -1 FoAS SR ¥l e | 125 Net change Today, Previous day Month ago 1935 1935 1934 1934 1932 1929 STOCK AVERAGES Compiled by the Associated Press. 30 15 Indust. Ralls. +.1 50.4 50.3 53.7 56.7 56.6 50.0 61.4 453 17.5 146.9 1 pm.. 1927 Prev. High 68 674 39% 15% 28 45 86 5% 8% 58 4Te 101 3 104 20% 31 221 431 19% 4 500 293, 371 414 125 24% 1612 Sin 9915 129 +.2 19.0 188 228 38.6 276 2:30pm. 1035 Stock and Sales— Low Dividend Rate Add 00. 62 Corn Prod Ref (3) 5 3 357 Cream of Wht t2%. 12'% Crosley Radio...... 3 23% Crown C& S (1). 1 431 Crown C&S pf(2.70) 2 74'; Crown WP1st pf(4) 3% Crown-Zellerback . . 1 5% Cuban-Am Sugar... 8 0% Cuban-. Am Sugar Dt 1508 41 Cudahy Pkg (2%). 1 Curtis P\lhllsth 5 % 91 Curtis Pub pf (7) 1 2 Curtiss Wright 6 6% Curtiss Wright 6 16 Cutler Hammer i 108 23 Deere & Co.. 21 19 Deere&Co b! uzoe). 2 24 Delaware & Hudson 3 11 Del Lack & West... 13 1':Den& RG Wopf.... 3812 Devoe & R (A)(12). Diamond M (113%). 347 Dlamond M pf (115) 34% Dome Mines (2)... 812 Dominion Strs(1.20) 17% Douglas Afrcraft. .. 14 Dresser Mfg A h1% 3 Dunhill Internatl. .. 875 Du Pont de N (2.60) 1267 Du Pont deb (6).. —_— 8 123% 20% T8 29 110 6 8% 3 T% 812 49 13, 60y 27 9% 241 ™ 58 llm. 12 T 384 187 9% T 7 271 25% 11 351 A 65% 3% Eastern Roll Mills 110': Zastman Kod (5) 16% Eaton Mfg (1). 37% Eitington-Schild 191: Electric Auto Lit 107 ~ Elec Auto Lite pf 4 Electric Boat. 6% Elec & Mus lnd oo 1% Elec Pwr & Light.. 21; Elec Pwr&Lt $6 pf.. 3 Elec Pwr&Lt 87 pf. 40 Elec Stor Bat (214). % Elk Horn Coal pf(k) 523, Endicott-John (3).. 1% Engineers Pub Svc. 141; Eng Pub Sve $5 pf.. 10% Eureka Vac CI( 161 Evans Auto (a75c). xchange Buffet 4'4 Fairbanks Co p! 17 Fairbanks-Mors 5% Fed Lt & Trac.. 48 Fed Lt& Tr pf (6). 41 Fed Motor Truck 2% Fed Screw Works. . “ Fed Water Sve (A). 29 Fid Ph F Ins(11.35) mau Filene's S pf (6%). 474 First Nat Strs(233) 20% Food Mach (a25c) 103 Foster-Wheeler. 4% Foundation Co.. ... 20 Fourth Nat In h35e 9 Fox Film (A). 4% Fuller Co 2d pf 5% Gen Am Investors.. 32 Gen Am Trans(1%) 12% Gen Asphalt....... 7% Gen Baking (60c). 115 Gen Baking pf (8) 5% Gen Bronze. . 4%, Gen Cable (A 20% Gen Cable pt = 2012 Gen Electric (§0e). 11 Gen Elec spec (60c) 32% Gen Foods (1.80)... 1. Gen Gas & El (A).. 597 Gen Mills (3) . 265 Gen Motors (1). 167': Gen Motors pf (5).. 17% Gen Print Ink 1.20.. 1'4 Gen Public Service. 15% Gen Ry Signal (1).. "~ Gen Realty & Util. 15 Gen Real&U pf w 16% Gen Refractories. 164 Gen Refre cctfs. 121= Gillett Saf Raz (1). 705 Gillett Saf R pf(5). 214 Gimbel bros. ... 23% Glidden Co (11.30) 2!5 Gobel (Adolf).. 15% Gold Dust (1.20) 4 1147x Gold Dust pf (6) 128 36 2% 67 7': Goodrich (B F). 15% Goodyear T& R.... 7112 Goodyear $7 pf (4). 1% Graham-Paige 5% Granby Consol 25 Grand Union. 30 Grant (W T)(+ 9% Great Northern pr 9% Great Nor Ore (50¢) 26% Grt West Sug (2.40)x ¢ 119 Grt West Sug pf(7) x 10s 34 Greene Cananea.... 10s 1 Guantanamo Sugar. 1 50 Gulf States Stl 1st. 10s —— 6% 6% 33 2% 3’& 128‘/‘: 13 1% 12 101 4% 4% %% 9% 12% 314 Hahn Dept Stores. . 55 Hahn Dpt Stores pf 5 Hall W F Printing. Hanna (M A)pf(7). Hat Cpf ww (633) Hayes Body.... Hazel Atlas Gl (5).. Hercules Pw (13%) Hershey C pf (15).. Holland Furnace. . . Holland & Son (50¢) Homestake M (136) Houd-Hersh A (32). 612 Houdaille-Hersh B. 9% Houston Oil....... 1% Houston Oil (new) 43 Howe Sound (2) 2% Hud=on & Manhat 7 Hudson & Man pf... 8% Hudson Motor Car 17 Hupp Moto: 9% fllinois Central.... 44 I1l Cent Isq lines(4) 255% Indus Rayon (1.68). 601 Ingersoll-Rand (2). 215 Inspiration Copper. 4 Insur Shct Md l4c.. 10% Interboro Rp Tr(k) 3% Int-Carriers Ltd 20¢ 23% Int Cement (1)..... 34% Int Harvester (60c) 113 Int Hydro Elec (A). 2% Int Merch Marine. .. 22% Int Nick Can (60c). 125 Int Nick Can pf (7). 5 Int Paper & Pw (B) 5 Int Paper & Pw (C). 4% Int Paper & Pw pf.. 981 Int Print Ink pt (6) 3% Int RysCent Am. 42% Int Shoe (2). 67% Int Silver pf 5% Int Tel & Tel... 10 Interstate Dept Strs » o O RO BT A RN BN 10s 10s — 57 5T 3 8% 112 28% 21 31 28% 12% 17% 2% 12% 11% 4% 17% 49 Jewel Tea (3)...... 38Y% Johns-Manville. . 5614 Jones&Laugh 1%pf. 3% Kans City Southern 6% Kans City South pf. 7% KaufmannDeptS40e 15% Kayser(J)& Co 50c. 1 Kelly-Spring T (k). 14% Kelvinator (170¢) 13% Kennecott C (60¢)..x 30 26% Kinney (G R) Copt 508 19% Kresge (SS)(1)... 2 106% Kresge (S S)pf(7). 23% Kroger Gr&Bk 1.60. 15 LacledeGasStL... 26% Laclede Gas pf..... 26% Lambert Co (3). 9% Lee Rub&Tire ( 12 Leh Port Cement. 1% Lehigh Valley Coal 6% Lehigh Val Coal pf. 5 Lehigh Valley RR. 69 Lehman Cp(2.65).. 15% Lehn & Fink (1%). 32'6 24% Lib-O-Ford G1(1.20) 21% Life Saver (1.60)... 15% = n xosy. 102 Ligg & Myers B(15) 4 High. 64 A 3874 13 283 44 'I 10 15 60 Util. Stocks. —1 219 22.0 241 358 26.6 221 40.6 242 239 184.3 618 Unch. 354 354 38.6 470 416 35.2 51.4 349 16.9 157.7 618 Net. l.nv Close. Chge. .. 38% 13 281 44% 307 6% 9% 1% 431 3% 6% 8% 64+ % 4% (RN ++ +1004110 1 & FESET & & 180 +1% l'hl-% 99% 3 ~-u% 42% + % 65 -3 5% — % % - % 50% +1% 38% —1 55% —2% 4 +% 6% 8% — % 16% + % 1 6% 14% - % 14% 2% + % C. 2: 30 D m Prev. 1035 High. Lo, -24% 14% Lima Locomotive. T19% 16% Lily Tulip Cup(1%) 30% 2415 Liquid Carb (+1%). 12 36% 31% Loew’'s Inc (2)..... 33 104% 102 Loew's Inc pf (6%) 3 36% 33% Loose-Wiles (2) 1 1% 14 Loft Inc 21% 19 Lorillard P (12.20) . x 1 % Louisiana Oil....... 14% 11% Louisv G&E(A)1%. 18% 13 Ludlum Steel...... Stock and u'm 113 MacAnd & F pf (6). 2815 McCall Corp (2). .. l'i 7% McCrory Strs A (k) 12% 7 McCrory Strs B (k) 69 57% McCrory Strs pt (k) 45% 36% Mclntyre Porcu (2) 8% 6% McKesgon & Rob.. . 45 37 McKesson & Rob pf 15% 9% McLellan Stores (k) 21% Mack Truck (1).... 36 Macy (R H)& Co(2) 18% Magma Copper (2) . 1 Mallison&Co...... 814 Mailison & Co pf. 13% Man Elev m g (k). . 11 Manhat Shirt (60c) 4% Marancha Corp. ... 512 Marine Midld (40c) x 80 ~ Marlin-Rockwell (2 7 Marshall Field. 6% Martin Parry... 237 Mathieson Alk(1%) 136 Mathieson A pf (7). 3715 May Dept Str (1.60) 51z Maytag Co. .. . 84!5 Maytag 1st pf 83 Maytag pf ww (3) 3 Mengel Co. 22 Mengel Co pf. 241 Mesta Mach (1%) 215 Miami Copper . . 9% Mid-Cont Pet(h50c) 81 Midland Steel Prod. 2 60% Midl'd Stl 1st pf(8) 5 58 Minn-Hon R (1314) 1 +105 Minn H Reg pf (6). . 41 Minn Moline Pow . . 4 3213 Minn Moline Pow ot 1 1: MStP&SSMlisin s 25, Mo Kan & Texas. .. 1 6'4 Mo Kan & Texaspf. 13 1% Mo Pacific (k).. . 1 2 Mo Pacifispt (k)... 8 10% Mohawk C M (h25c) 8 55 Monsanto C (1). 4 21% Montgomery W: 5 » Mother Lode 4 17% Motor Produ 4 4 N 1 8 1 90: 7's Motor Wheel 367 Mullins Mfg pf. 14 Munsingwear Inc. . 4% Murray Corp 30 60! Myer(FE)&Co 160 x Nashv Chat & St L. 12 Nash Motors (1). 4': Nat Acme Co. 1411. Nat Biscuit pt ( 137 Nat C2sh Reg A 50¢’ 15 Nat Dairy Prod 120 27 1!; Nat Dept Store (k). 21 173 Nat Dep St 1st pf(k) 1302 Nat Distillers (50c) Nat Pwr & Lt (80¢c) t Steel (11%)... at Supply Co Nat Supply pf Nat Tea (60c).... .. Neisner Bros(t13%) : Newberry(J J) 1.60 x Newport Industries NYCentral RR.. N Y Chicago & St L N Y Dock N Y & Harlem (5) .. N Y & Harlem pf(5) NY ¥ X Y 10 & & N N H& Hart pf. Investors (k). . Ontario & West Y Railways pf. .. N Y Shipbullding. . N Y Shipbldz pf (7) Noranda Mines (h2) Norfolk & W (110).. Norf & West pf (4) North Am Aviation. North Am Co (1)... North Am Ed pf (6) Northern Pacific. .. Northwest Tel (3) Norwalk Tire&Rub. H & Hartford N N 36% 304 175 158 101'; 99 107 4% 9°. Ono Of1 (hdse) 'z Oliver Farm Equip. 1 3 Oliver FprpfA. 37« Omnibus Corp. 903 Owens-11l Glass 2 Pacific Coast 2d.... 1508 | % 13w PactficG&E(1%). 12 | 233 20 Pacific Lighting (3) 3 |2 13 Pacific Mills (h50e) 1 70 Pacific Tel & Tel (6) 150s 7 Pac W'n Oil (h40c). 3'; Packard Motor 2% Par-Publix ctfs (k) 214 Park Utah.. > 1; Pathe Excha; 1215 Pathe Exchan, 8% Patino Mines. 114 Peerless Motor. . 6415 Penick & Ford (3).. 64% Penney (JC) (2).. 2% Penn Coal & Coke 17% Penn RR (1). 0 Peoples Drug 8 (1). % Peoples Gas Chi. ... 744 Petrol Corp (h50¢). 13!» Phelps Dodge(h75¢) Phila& Read C& 1. Philip Morris (1) % Phillips Petrol (1 12 Pierce-Arrow (k) 4': Pierce Oil pf.. Pierce Petroleum. . 31% Pillsbury Flour 1.60 8 PittsCoal...... .en 515 Pitts Screw & Bolt.. » 113 Pitts United Corp. . 25 Pitts United Cpf... 6% Plymouth Oil (1) 6% Poor & Co (B). 1% Porto Ric Am Tob A 8% Postal Tel & Ca pf.. 1% Pressed St Car (k). 7 Pressed Stl1C pf (k) 42% Proc & Gamb (1%3). 20% Pub Serv N J (2.80) 62% Pub Serv N J pf () 75 Pub Sve NJ pf (6). 85% Pub Serv N J pf (7) 1012 Pub Serv N J pf (8) 42Y% Pullman Ine (3). 6% Pure Oil... 511 Pure Oil pf.... 10% 8% Purity Bakeries (1) 5% 4 Radlo Corporation. 104 501 Radio Corp pf A 3% 2 35% Radio Corp pf (B).. 31 1% Radio-Keith-Or (k) 13 161 Raybestos-Man (1). 1 4% Real Silk Hosiery... 26 Real Silk Hos pf. 15 Reis (Robert). 8 Reis (Robert)1st pt 8 Remington-Rand.. 71% Remington-R 1st pt 70 Reming-Rand 2d pf 24 Reo Motor Car. 95, Republic Steel. 301 Republic Steel pf. 8115 Revere Cop & Br 20% Reynolds Metalsl). 561 Reynolds Tob (3)... 46% Reynolds Tob B (3) 10s 1 25 By the Associated Press. CHICAGO, March 14.—Upset by weakness of stocks and cotton, breaks in grain values became pronounced late today. Persistent arrival of foreign grains at United States ports ngcnelenud late downturns of prices. All de- liveries of rye tumbled to a new low price record for the season. ‘Wheat closed weak, 1-1%% under yes- terday’s finish; May, 92%-l2; corn 1-11; down, May 783%-7s; oats, 3%-7% off, and provisions showing 35 to 65 cents decline. - I-mh. 89% 9 Lain 3 Dividend Rate. Aaao(; H{:" Low. Close. cnn 117 25% 343 104% 33% 159 101 THURSDAY, MARCH 14, 1935. Prev. 1935 High. Low. 13% -1% | 26 17 + % 24% — % 32% —1% 104 - % 33% + 1 1% 13% 17 248 32% 104 38% 1% 19*« ll’h 13% 117% 28 46 17% 2 10% Schults % Seabo: 7 Seal 31 11 10 123 111 2 Stock and Dividend Rate. 217% Roan Antelope Ltd. 32% 29% Roy’l D h1.35 3-10c. 38% Safeway Stores(3). 110 104% Safeway Strs pf (6) 10% St Joseph Ld (40c) 1% St L San Fran (k). . 1% St L San Fr pt (k 6 Savage Arms 22 Schenley Dis 55 Scott Paper (1.70) . 20% Seab'd Oil(Del) Sears Roeb'k (7 % Servel Inc... .. 9% Sharon Steel Hoop. 44% Sharp & D pf (3%). 7% Shattuck(F G)25¢. . 5% Shell Union Ofl FINANCIAL. 2:30 p.m. “Bales— et Add 00. High Low. Close. Chge. 1 22% 22% 22% + % 2 29% 29% 29% + % 2 39% 38% — 508 106 106 ny 10' - 1% 1% 6% — 23% + 2% + 38% 105 10% 1% 1% ail Strs. Re Strs pt.. 80, -x 1208 4 Afr L (k). rd A L pf(k) 1) 8% Silver King C uoc) 6% Simmons Co....... Simms Petrol (1) 6% Skelly Of1 17' Snider Packing Socony-Vac (60c). . 20 Sou Por RicoSug(2) 10% South Cal Ed 134).. 13 Southern Pacific. .. T5% Southern Rallway. Southern Rwy pf 5% Spalding (AG).. 3% Sparks-Withington. 5 Spear&Co..... 33 Spencer Kellog 1.60 x % Sperry Corp (25¢). . Spicer Mfg 541 Spiegel-! May-stern 15 Stand Brands (1). Stand Brands pf (7) 100s 3 Stand Com Tobacco 2 2 Stand Gas & Elec... 2% Stand G & E $4 pf. 7 Stand G & E $7 pf. 281 Stand Oil of Cal(1). Stand Oil Exp pf(5) Stand Oil of Ind (1) 1 18 68 15‘~ 126% 27, : 36% Stand Ofl N J(111}) 13 Starrett (L 8) a23e. 584, Sterling Prod (3.80) Sterling Secur (A). %2 Sterling Secur pf. .. 16%: 31 81 150 TexasCorp (1).... Texas Gulf Sul (2). 3'4 Tex Pac Coal & Oil. Tex Pac Land Trust Thatcher Mfg (a25c x 21: Thermoid Co = 13% Thompson Products 1% Thompson Starrett. 77. Tide Wat Asso Oil.. 4% Timken-Detroit. 28° Mimken R B (1).... 47» Transamerica (25¢) 5% Transue & Williams 17 Tri-Contl Corp....... . 36 TIrico Prod (2%) x 4’4 Truax-Tra Coal ... 313 Truscon Steel. 31: Twin City RT..... 18% Twin City RT pf... —ee 6% Stewart- Warner. 25, Stone & Webster 2%, Studebaker (new 12%: Superheater 18, Superior Oil 5% Superior Steel. 3% Sweets Co of Am ® 9 =R Y nxsrhienS 10s 1% Ulen & Co 54 Und-Ell-Fisher ( 2 44 Un Bag & Paper u) Un Carbide&C 1.60. 14% Un Oilof Cal (1).. 830a 80 Un Pacific (6) . Un Pacific pf (4) » Un Tamk Car (1. "0) » United Aircraft. 4', United Air L vte 8 United Am Bosch. 237 United Bisc (1.60).. 46 United Carbon 2.40. x 3 20% 159 100% MW 2 9 60 1315 38 1% 100% 2% IIII+I+ 11 407; 35 ].v 42% 2 2512 LAULRE 2N N 40 94 152 59 52 11 United Corp United Corp p! 9% Caited Drug. 3% United Elec Coal 715 United Fruit (3)... 9% United Gas Imp (1) 21, United Pce D W.. .. 18 United Pce D W pf. 41; U S & For'n Secur. .. U S Freight (1). USGypsum (1)... x U S Ind Alcohol (2) x 1 » US Leather...... 3 Us Plpe &F (aOc) us Really& lmDY. ~ U S Rubber. . U S Rubber 1st pt 12414 106'; U S Smelt & R (h9). 29 USSteel..... 77': U S Steel pf (2). 4 149%, U S Tobacco pf (7). Tz 3% United Stores (A).. Univ Leaf Tob (2) 1% Univ Pipe & Rad... 116 13 20s 2 1% Gtil Pwr & Lt (A).. 11 213, 14% Er 14 % Vadsco Sales Corp 3 Vanadium Corp 0 11% Van Raalte. . 2 341 Vick Chem (12. 6 2 3 Va-Car Chemical... 70 TL+4+41 A E SRR 18Y% Va-Car Chem 6% pf 3 72'; Va El & Pwr pf (6). 4 ValIron Coal & Coke 30s Vulcan Detin (a4).. 808 60s 4« Walgreen Co (m1). 11, Walworth Co. ... ~ Ward Baking (A).. 1'« Ward Baking (B)... 21; Warner Bros Pic... : Warner Bros Pic pf Warren Bros Webster Eise Wesson O & \tlh x l; Wesson O&S pf (4). 2 5 20 X West Pa Elec pf (6) 40s 397 West Pa Elec pf (7) West Pa Pw pf (6). West Pa Pwr pt (7) 1108 1. Western Dairy pt B 2 95 2 10475 708 08 5% Western Maryland. 23, Western Pacific pf. 211, Western Union. ... 194 Westingh'se AB 50c 68 4 21 21 LR 11:00 A.M. 1100 PAH. ganized. in stock. 1 ""Chicago Cash Market. Cash wheat, No. 2 red, 95%895'2; No. 2 mixed, 97%; corn, No. 3 yellow, 83%a84; No. 3 white, 89; oats, No. 1 white, 5314a54%; rye, buckwheat, soy beans, no sales; barley, 68a1.20; tim- othy seed. 17.00a18.50 cwt.; clover seed, 15.50a19.75 cwt. Liverpool Grain Prices. L. March 14 (P.—Wheat utires closed arm futures. Prev. close. 861 70 72! 75% March MONEY MARKET. NEW YORK. March 14 (#.—Call money steady; 1 L oe unt l|1 day. Time teady; 60 days-8 months. %al ver et Prime commercial paper. Bankers' accentances shendn t uu'. New York "Reserve 335 Westingh'se Elec. . 16% Westvaco Chl (40c) 1 Wheel & Lake E pf. 7 White Motor 19% White Rock M S (2) 1 1% Wilcox Oil & Gas... 9 47y Wilson & Coal2%e. Wilson & Co pf (6).. 3 51 Woolworth (2.40).. 9 11% Worthington Pump 9 25': Worth Pump pf A.. 3301 59 10s 2 1120s 44 35 3% erxleylwlr)fl% . 274 Yellow Truck...... 35 Yellow Truck pf. .. 18% Young Sp& W 1134 x 21% 13% Youngstown S&T.. — e 12 Zenith Radio. . 312 Zonite Product. = Sales of Stocks on the New York Exchange. 18% — 170,000 12:00 Noon...... 390,000 2:00 P.M.. 5.:0 .000 s given in the above ta annuai Siven, 10 the 2b0uarens or Baieearly iy extra. IPlus b Favable 1n 270,000 By the Associated Press. NEW YORK, March 14.—Cotton went into a slump in the afternoon trading today, which wiped out early gains of 7 to 10 points and sent prices 8 to 16 points under yesterday's close. After advancing to 11.35 at the open- ing, May broke to 11.10 and was ruling around 11.18 in the midafternoon. After selling off to 11.20 for May and 1093 for October the market firmed up. At midday May was quoted at 1131, with active months generally lho'hu net gains of 4 to 5 points. Liverpool Quotations. LIVERPOOL. March 14 (#.—Cotton. 17,000 bales. “including 7.300 American. jpot. moderate hul!neu done: 6 ints higher (auotations American smet STOCKS GO DOWN AFTER EARLY RISE Late Decline Coincides With Moderate Reaction Cotton and Grains. BY VICTOR EUBANK, Associated Press Financial Writer. NEW YORK, March 14—The stock market had a relapse in the afternoon trading today after a feeble rally earlier. The decline coincided with a mod- erate reaction in cotton and grains. Farm implements weakened, with Case getting down about 3 points in the last hour. Stocks losing a point or so included Bethlehem, United States Steel, Chrysler, Allied Chemical, Westinghouse, Du Pont and Amer- ican Can. Rails and utilities held up better than industrials and Sears, Roebuck retained most of an early advance of more than a point. Sales approxi- mated 750,000 shares. Rails, mail orders and several in- dustrial specialties pushed up frac- tions to more than a point before the list turned ragged. Bonds also acted better, with the exception of utilities, and commodities held fairly steady. The pound sterling rallied. but European gold currencies were again feeble, arousing fresh doubts over the position of the gold bloc. Much of the advance in stocks wes lost by early afternoon. although con- centrated selling was lacking. Case turned notably heavy, losing more _| than a point, while U. S. Steel, West- ern Union, Continental Can, Chrysler and others sagged fractionally. Wall Street's response to the an- nouncement of the Treasury's re- | demption of the entire issue of first Liberty bonds was largely favorable, although speculators with inflationary hopes were again disappointed, since it was assumed that the Government would continue to pursue a conserva~ | tive monetary policy while continuing its refunding operations. It was recalled that there was much talk of a huge conversion operation around the time the Roosevelt admin- istration took office. Several quarters were impressed with the fact that recovery in England appeared to have '~ | started with its big war loan con- | version. But American conversion | was temporarily thwarted by uncer- tainty over the dollar. Dairy issues turned downward in =, | the second hour with Borden attract- | ing further selling continuing the | movement which started with the pub- . | lication of its annual earnings. Na- \ tional Dairy dipped slightly. Utilities ‘“sre mixed with North American a heavy spot. ¢ by Chas. D. Barney & Cov Offe; halme: r. Co_5s 1037, 1010 St NEW YORK BAR SILVER. NEW YORK, March 14 IA’)—B“ sxl\er firmer, !4 highe; 587 DIRECTORY COMMODITY BROKERS COTTON N. ¥ Cotton Exchange & Co. DI 2255 e e 0 GRAIN Members Chicago Boua nl 'n-ue Harriman & Keec) Eatias s Ycor Westheimer & Co. L) RUBBER—HIDES METALS—SILK Members Commodity Exchan {-I‘A‘rnmln Keech . aw & Co Westheimer Member Laidlaw & Co INVESTMENT PROPERTIES Several apartment houses and residences which can be purchased at prices that will return a substantial s um om amounts invested. H. L. RUST CO. 1001 15th St. tunity to get such large from this type of investment. We will be glad to fure nish detailed information without obligation. Vernon W. Holleman, Gen. Home Life I;Il\!vlrlyllte C Agt. of N. Y. 332 Shoreham Building Telephone Metropolitan 1030 A Vital Service For BANK STOCK INVESTORS Every problem of the current and future position of Bank Stocks is covered in this thirty-page treatise prepared by world known investment counsellors. Copy free upon request. George M. Ferris & Co. Incorporated Washington Bldg. Nat'l 5025-26 Member Washington Stock Ezchange