Evening Star Newspaper, March 19, 1935, Page 18

IA—]8 *¥*% BAVKERS PONSIR TRANSA CTIONS ON THE NEW YORK ESSAY CONTEST Members of A. I. B. Chapter Will Get Chance to At- tend Conclave. BY EDWARD C. STONE. ‘Washington’s junior bankers are to be given an opportunity to attend the annual Convention of the Disprict Bankers’ Asscciation, at Hot Springs, by entering and winning one of the first three places in an essay contest. 'The parent association announces that 1t will sponsor an essay contest, open to all members of Washington Chap- ter, American Institute of Banking, below the grade of cashier or treasurer, who are in good standing on April 15 and who are employes of member banks in the association. The subjects for consideration are: “Trends in Banking.” as they effect (a) management and personnel, (b) credits and investments, (c) customer relations, and (d) earnings and ex- penses. The papers, not to exceed 3,000 ‘words, must be typewritten on one side of the page, double spaced, and sub- mitted in triplicate form to Miss Gwladys M. Keer, assistant secretary of the bankers’ association, not later than May 10, 1935. Papers must bear fictitious names and must be accom- panied by a sealed envelop contain- ing the name and address of the author, and also the name signed on the paper. These envelopes will be opened after the awards have been made. Frederick P. H. Siddons, president of the District of Columbia Bankers’ Association, said today: “I am very glad that the bankers’ association de- termined to havg an essay contest this year for the mémbers of Washington Chapter. The subject selected, ‘Trends in Banking,’ is a very broad one, and should give every member of the chap- ter a chance to participate in the contest.” Due to the many changes which have taken place in the past few years in the field of banking, this contest should prove of interest not only to entrants but to each individual bank- ing institution. Bankers Plan Spring Dinner. ‘The pre-convention dinner of the District of Columbia Bankers' Asso- ciation will be held on Friday evening, April 26, at the Columbia Country Club, according to Frederick P. H. Siddons, president of the association. A committee, consisting of Charles H. Doing, first vice president of the association; Karl W. Corby, second vice president; Thomas J. Groom, sec- retary, and Lanier P. McLachlen, pres- ident of the McLachlen Banking Corp., has been appointed to make arrange- ments for the event. As has been the custom, a golf tour- nament will be held in the afternoon to compete for the Robert V. Fleming Cup, which is awarded yearly to the active officer of a member bank with the low net score. Other prizes will be awarded. This dinner is attended by active officers and directors of the local banks. A large gathering is expected. $24,000,000 Baby Bonds Sold. About $24,000,000 of United States saving bonds, so-called “baby bonds,” were sold in the first 14 days of their issue. The actual total was $23,183,- 953, with many cities and post offices yet to repoPt. The maturity value of the bonds purchased was about $31,000.000. There have been more than 48,000 buyers, and the average purchase has been $438 to the buyer. The Treasury has announced that tenders for two series of Treasury dis- count bills, dated March 20, totaled $171,976,000 of which $100,131,000 were accepted. Applications for $50,000,000 of 182- day bills totaled $104,570,000, of which $50,125,000 were accepted. Bids ranged from 99.965, equal to a rate of about 0.069 per cent a year, to 99.948, or a rate of about 0.103 per cent. Average price was 99.953, and the average rate about 0.094 per cent. Applications for $50,000,000 of 273- day bills totaled $67,406,000, of which $50,006,000 were accepted. Except for one of $10,000, accepted bids ranged from 99.901, equal to a rate of about 0.131 per cent a year, to 99.883, equal to a rate of about 0.154 per cent. Bankers’ Co-operation Urged. Secretary Morgenthau has sent a telegram to financial institutions asking the fullest co-operation in con- nection with the exchange of the fourth 4!, Liberties for the new offering of 2% per cent Treasury bonds. The bonds called for re- demption April 15 are designed as “Third-Called Fourth 4Ys.” ‘The Richmond Reserve Bank has sent to every bank in the fifth dis- trict full information on the way the bonds should be handled. The rules cover both the coupon bonds and the registered bonds. The Richmond bank has also mailed complete in- structions on the calling of ell out- standinc first Liberty loan bonds. The Securities and Exchange Com- mission announces the appointment of Robert G. Page as head of the New York regional office of the commis- sion. Mr. Page is a lawyer and is best known in Washington as secre- tary to Supreme Court Justice Bran- deis in 1926 and 1927. Exchange Quotations Firm. Capital Traction bonds again sold at 97 on the Washington Stock Ex- change today. Washington Gas Light 6s, series B, came out at 103%, the remaining trading being in stocks. Lanston Monotype figured in small lot sales at 50, unchanged, and Mer- genthaler Linotype recorded four transfers at 30, also unchanged from other recent sales. Capital Transit stock was quoted today at 21!, bid and 23%; asked, with no sales. Irving Lowengrub, who heads a local investment firm bearing his name, will be back at his desk at the end of the week. He has been con- fined in a hospital at Aiken, N. C., but now is convalescing at his nome -here, The General American Life Insur- ance Co,, St. Louis, reports that the Washington office was one of 23 which showed an increase in busi- ness in February over February a year ago. . CHICAGO PRODUCE. CHICAGO, March 19 (.—Poultry, live, 82, trucks; ‘stendy; hens, ‘s pounds and 3 20 mo e than 5 pounds. 1805 horn fryers, 2413: eomd‘ 24'/. ‘Rock snrmu, 20. colorz 2. lrehlcklv ISI”O Lexhnrns. turkeys, 14a21; ducks, F¥s nds”up, 20821 “small, 18: geese, : cel -7 pounds, 24. Bltlgg» 10,210: fu E Cr:lme‘ryT a: tandards (90 t!ff‘"& riot ards (90. centralized carlots o butter sales. s, 22,021 tra fl:fu. Bothaztiac fresh lnderll © rsts, cases: current receipt; O%Botatoes. Bt on track. 570: total United Btates shipments. old stock. round 'mu weak; demand russets steady. trading light; supplies he Wisconsin es. commercial eonnn %une! Burbanks. Prev. High. % 89 334% 11% 8% 115% 20% 31y 1% 7 141 17% 57 57% 1815 54 29% 123 157y 201 45% 761 331 10% 13815 6% 19% 1474 60 4514 41 38% 12% 5% 44 111 1714 173 381 34 T 261 13% 10 98 597k 25% 341 1&0-« 5T% 181 50% 8% 38% 117 114% Devoe & R 1st pf(7)x 10- 116% usu llsu +3 29% 26% Djamond M (11% 28 41k 110 FINANCIAL, THE By private wire direct to The Star. 2:30 p.m. 1035 Stock ana Low. 41 Adams Express.... 84% Adams Expr pf (5). 28'3 Adams Millis (2)... 8 Addressograph. 6% AfMliated Prod ( 104% Air Reduction (3) 15% Alaska Jun (11.20 2 Albany Wrap Paper 1 Alleg Corp (k)..... 2% Alleg pf w§30w(k). 125 Allled Chem (6) . 12 Allis-Chalmers. 4812 Amerada Corp (2) 45% Am Ag Chem Del(2) 13% Am Bank Note. . 43 Am Baak N pf (3) 2213 Am Brake Shoe 80¢, Am Can (45) . s 151% Am Can pf l'l) 10 Am Car & Foundry. 25!'3 Am Car & Found pf. 66 Am Chicle (13%).. 22'3 Am Comel Alcohol. 6': Am Crystal Sugar. . 57% Am Crystal Sug pf. 1% Am Ensaustic. ..., 2 Am & Foreign Pwr. 14 Am & For Pw pf (7) 30% Am Home P (2.40), 813 Am Ice Co.. . 412 Am International. - 9 Am Locomotive..., 32% Am Locomotive pf. 181 Am Mch & Fv (80c) 5 Am Mach & Metals. 1315 Am Metals. ... 1'2 Am Power & Ligh 8% Am P&L $5 pf (1%4) 10'« Am P&L $6 pf (13%) 10'; Am Radiator. . 134'; Am Radiator pf (1) 15% Am Rolling Mills. .. Am Shipbldg (2) * Am Smelt & Ref Am S&R 6% pf U-’). Am S&M 7% pf (7). Am Snuff (131) Am Steel Foundry Am Stl Fdry pf (2). Am Stores (12%)... : Am Sug (2).... . 98‘. Am Tel & Tel (9)... 76% Am Tobacco B (5)., 12‘?'- Am Tobacco pf (6). '2 Am Type Fdrs (k). 9 Am Type Fdrs pf(k Tlx Am Water Wks (1) 534 Am Wat W 1st (6).. 35'2 Am Woolen pf....., 3 Am Zinc & Ltad 85 Am Zinc & Lead pf.. 8 Anaconda Copper.., 16% Anaconda Wire 14!z Anchor Cap (60c)... 36 Archer-Dan M t1%. 997 Armour Del pf (7).. Armour of Illinots. . 60 Armour [1] pr pf (6) 7!2 Asso Dry Goods. ... 37% Atch To&S F (h2) T4% Atch To&S F pf (5). 20 Atlantic Coast Line. 21% Atlantic Ref (1) 36 Atlas Powder (2)... 15 Auburn Auto. 6'2 Austin Nichols. * 3 Aviation Corp D 103 121 1'; Baldwin Loco (k).. 8% Baldwin Loc pf(k). 712 Baltimore & Ohio. . s Baltimore & Ohio pt « Barnsdall Corp.... Bayuk Cigar (b4).. 107% Bayuk Cig I'st pf(7) 117 Bendix Aviation. . 15! Beneficial Loan 1 34 Best& Co (2) 21% Bethlehem Stee! '« Bethjehem Stl pf. 15 Bigelow-San Corp.. 9% Blaw-Knox .. 61y Boeing Airplane 90 Bon Ami (A)(15). 49% Bohn Alum&Br (3). 2115 Borden Co (1.60)... 28Y% Borg Warner (1%4). 241, Briggs Mfg (2) 231 Briggs & Strat ( 32 Bristol-Myers +2 40 3612 Bkin-Man T(a75¢).. 90 Bklyn-Man T pf (6) 43 Bklyn Union Gas(5) » Brunswick-Balke. . 4‘4 Bucyrus Erte .. 81x Bueyrus Erie cv nf 21, Budd (EG) Mfg. .. 23 Budd (E Mfg pf. 24 Budd Whee 81 Bullard Co .. 3 Burns Bros p . 13% Burr Add M «60¢). ., 1'% Bush Terminal (k). 12 Bush Tr Bldg pf ct. 11% Byers (A M) 13 Callahan Zine. 21; Calumet & Hec! 71: Campbell-Wyant 9% Canada Dry G A 9% Canadian Pacific. .. 32 Cannon Mills (2). 41 Capital Admin (A). 45% Case (J 1) Co. . 54 Case (J I)of(4). 2% Certain-teed Prod.. 37 Ches & Oh'o (2.30), 36 Chesap Corp (3).,, % Chi Gt Westn (k).. 1% Chi Gt Westn pf(k) 1% Chi MiI St P & P 2 Chi Mil St P& P pf. 2% Chi & Northwestrn. 4% Chi & Northwest pf. 20 Chi Pneu Tool pf... 1 ChiR1&P (k)..... 1% Chi R &P 7% pf(k) 25% Chickasha CO (2). 3% Childs Co.........e 31 Chrysler Corp (1).u 20 City Ice & Fuel (2).. 14 City Stores (k) % City Stores ctfs 12% Clark Equip 180c).. 161% Coca-Cola (8).. . 553 Coca-Cola (A) )(3). 16% Colgate-P-P (50¢e).. 9 Collins & Atkman. . 69% Collins & Atk pf (7) 6% Colonial Beacon Oil 2 Colo Fuel & Iron(k) 5 Colo Fuel & Ir pf(k) 10% Colo & South. . 3% Col Gas & Elec. . 35% Col G & E pf A (8), 31 ColG&EptB (5),. 3415 Colum Pic vte (m1) 67 Columb Carbon (4). 391 Comecl Credit (2)... 5212 Comel Credit(A)(3) 109% Comel C 1st pf(6%) 56% Comel Inv Tr t2%5. 17% Comecl Sclv (t85¢c). % Comw & Southn.... 29% Comw & Sou pf (3). 27 Congoleum-N(1.60) 23% Conn Ry & Lt (4%4) 7 Consol Cigar 71% Con C pr pf ww 6%. 4% Consol Film.. 17% Counsol Film pt (§2). 157 Consol Gas N ¥ (1). T2% Consol Gas pt (6).. 1% Consol Laundries 612 Consol Q1) (h42¢c) 15 Consol Textile . ... 9% Contatner Corp (A). 38 Container Corp (B). % Contl Baking (B) 62% Contl Can (2.40) 28% Contl Insur (+135). % Contl Mntc\r TR 15% Cont O(Del)al2%¢c. 41% Corn Ex BK&Tr (3). 540 62 Corn Prod Ret (3).. 4% Coty Ine.. ... .,.. 857 Cream of Wht 12% . 23% CrownC&S (1).... 431% Crown C&S pf(2.70) 3% Crown-Zellerback. « 1 Cuba Co . 5% Cuban-Am 40% Cul 41 Cudahy Pkg (2%).. 15 Curtis Publishing.. 2 Curtiss Wright. ... 6% Curtiss Wright (A) 16 Cutler Hammer. ... 7 Davega Strs (allc) 2:% Deere & Co 19 Deere&Co pf (j20¢). 24 Delaware & Hudson 11 Del Lack & West... 1% Den& RG W pt.... 65 Detroit Edison (4). 38 Devoed& R (A)(12).x ). 34% Dome Mines (2). Dividend Rate. AdflO({ High. Low. Close. e 1 10s 87 ugar -Am Sugar nt 210 4% 4% 4w+ N 87 87 13 3 30 2 9% 9% %+ 1 % THh % - 4105% 105 105 + 16 16% 15% 1€% 2 2% 2% 24 10 1 | 1 2 3% 3% 3 2127‘/: 126% 127 131 13% 5 50 50 45 45 15% 53 224 114 112% 155% 1561 11 11 294 28 2% 2% 24 23y 8% 8% 84y T8% 1% 1% 2% 2u 14': 14 31y 381 313 3y 105‘. lOa' 12614 = =5 1034 103 0 B 0RO TN DI 83 00 10 1O MY b T8 i i SO 5 B S B 3 SIN D HS [ 3915 111 12 151 351, 22% - m 237 58 58 15 14y 0% 10% TH 6Y 98 97y, b2% 523, 2215 214 315 304 25% 254 273 2T 3215 39 9114 43 4% @ 3 g 2 RS orTeBalEfuB e an o mm"‘ 21 38 91g 43 % » S 3 - 3 CUF ST DB 0 i 1 D 1 [T U0} JOT P HUPOIY IO ePe - 12% 4 38 3314 0% 125 40% 1 55% 111% 11|%- 4 fii 5T% 18% % 32 2% 25 7 72 4% 1% 171 76 1% - - CAHNNHOARE A SRR S~ » - M HEEGEROD KBOMN 11 ”!6 !9 39% +1% EVENING STAR, WASHINGTON, D. C, TUESDAY, MARCH 19, 1935. STOCK EXCHANGE STOCKS TEND UP, 2:30p.m, STOCK AVERAGES Comptled by the Associated Press. 30 15 Indust. Rails. Net change ... « +4 +4 Today, 1 pm. ... 499 192 Previous day 49.5 18.8 55.2 238 56.1 37.8 566 276 495 61.4 453 115 L1469 . 516 Prev. 1935 Stock and Sales— High. Low Dividend Rate 107 104 Duquesne Lt ist (5) 50s 105% 8 3% Eastern Roll Mills.. 1234% 1108 7% 16% Eaton Mfg (1) 874 Eitington-8child 19%; Electric Auto Lite.. 107 Elec Auto Lite pf !. 374 Electric Boat. 6% Elec & Mus Ind. 11 Elec Pwr & Light 21: Elec Pwr&Lt $6 pt.. 3 Eleec Pwr&Lt 87 pf. 3915 Elec Stor Bat (2% ). 14% Eng Pub Sve $5 pf Eng P S $5 50 nf ww 2 Eng Pub Sve $6 pf 5 Equit Office Bldg. 7' Erie RR > 103 Eureka Vac C1(80c) 110'e 64 12% 9%y 2414 414 Fairbanks Co pt 17 Fairbanks-Morse. 281y Fid Ph F Ins(t1.35) 131; Firestone (40c). 86 Firestone pf A (6) 467 First Nat Strs(234) « Foster-Wheeler. ... 60% Foster-Wheeler pf. 4% Foundation Co &7, Fox Flim (A). « Freeport-Texas (1). 101y 13!y 2 1 2 1 Gabriel Co (A) 91y & Gamewell Co. 7% 51: Gen Am Investors.. 3814 325 Gen Am Trans(1%) 1&7- 11% Gen Asphait....... 91 7'z Gen Baking (60c).. 125 ll.n Gen Baking pf l!).. Th ¢(;en Bronze .. 7 «Gen Cable (A)....u 25% :m, Gen Electric (60¢).. 114 11 Gen Elec spee (60¢) 35! 324 Gen Foods (1.80). 8 ' GenGas & El (A).. 13% 10 Gen G&E 6%cv pf A 65t 5974 Gen Mills (3). 34% 26% Gen Motors (1). 107'; Gen Motors pf (5) 17% Gen Print Ink 1.20.. 4312 Gen Print Ink pf(6) “x Gen Realty & Util Gen Real&U pt ww. A Gen Refre cctfs. ... 12 Gillett Saf Raz (1). 70'; Gillett Saf R pf(5). < Gimbel oros 23% Gldden Co (11.30). 1047« Glidden Co pr pf (7) 'z Gobel (Adolf) .. u.e. L Gold Dust (1 20)... 71 Goodrich (B F). 40 Goodrich (B F) p 15% Goodyear T & R. 3 Gotham Silk Hos 1% Graham-Paige &% Granby Consol % Grand Union. 17 Grand Unton pf 1%+ 29 Grant (W T)(11%) 9% Great Northern pf.. 9% Great Nor Ore (50¢) 263 Grt West Sug (2.40) 119 Grt West Sug pf(7) 6 30% 10s 127 2 408 4'3 Hall W F Printing. 4% Hahn Dept Stores. . 63 Hamilton Watch pt 1% Hayes Body Hazel AtlasGl (5).. 4 1074 104 Hershey Cpt (15).. 391'\ 338 Houmestake M (136) x 36% 307« Houd-Hersh A (j2). Yl 61z Houdaille-Hersh B. 49 House Finpt (3%). 9l Houston Ull.. . ... 1!z Houston 01! (new). 43 Howe Sound 13)... 61: Hudson & Man pf.. 8 Hudson Motor Car.. 1% Hupp Motors. ..... — 17% 9% lllinots Central.... 33 25% Indus Rayon (1.68).x 55% 46'3 Inland Steel (1) ..., s 4 Insur Shct Md ldc.. 17 Intercontl Rubber., 1% Interlake Iron. . 423 31 Int Agriculture pf.. 1611> 149% Int Bus Mach (p6).. 3% Int-Carriers Ltd 206 227 Int Cement (1).... 34 Int Harvester (60c) 1% Int Hydro Elec (A). 21, Int Merch Marine. .. 3w 94'; 85 x 57 57% 10 2% 9 7 184 18% 5% 38 22 28% 28 2%k 11'4 Ta% 324 23 10915 1564 507 367 104% 13 36% 218 14% 18% 46 13 12% 45% 8% 90 28% 19% 270 T 3% 30% 18% 17w 4% 34% 22% Int Nick Can «60c). 1'- Int Paper & Pw (A) % Int Paper & Pw (B) 98'4 Int Print Ink pf 16! 29 IntSait(13) 4% Int Shoe (2). s int Silver..... Int Tel & Tel Interstate Dep Island Creek C (2). 9 31 49 Jewel Tea (3). . 38% Johns-Manville. ... 712 KaufmannDeptS40e % Kelly-Spring T (k). 6 Kelsey-Hayes (A).. 3% Kelsey-Hayes (B).. 14% Kelvinator (170¢).. 13% Kennecott C (60¢).. 3% Kinney (G R) Co... 26'3 Kinney (G R) Co of 19% Kresze (SS1(1)... 23% Kroger Gr&Bk 1 60. 26 Lambpert Co (3) . 112 Lehizh Valley Coal. H Lehigh Vallev R R, 67% Lehman Cp(12.65). 231 Lib-U-Iord Gia1.20) 21 Life Saver (1.60)... 102 LAge & Mvers B(15) 1511z Ligg & Myers pf (7) 24'% Liquid Carb (11%). 31% Loew's Inc (2)..... 102 Loew's Inc pf (63%4) 1 Loft Inc . 33 Loose-Wiles (2). 19 Lorillard P,(12.20). 10% Louisv GEE(A)1%. 13 Ludlum Steel . 40 MacAndrews & F 13 Tl McCrory Strs A (k) 7 McCrory Strs B (k). 865 Mclntyre Porcu (2) 6% McKesson & Itob. ... 852 McLellan Strs pf (k 21's Magk Truck (1) 34' Macv (R H)& C 1 Mallison & Co. . 7 Mallison & Co pf... 4 Manati Sugar pf (k) b% Marine Midid (40c) 6% Matshall Field .. 25% Mathieson Alk(13%) 36% May Dept Str (1 60) 33 Maytag pf ww (3).. 24% Mesta Mach 11%) 2% Miami Copper. . 915 Mid-Cont Pe((hfioc) 8% Midland Steel Prod. 60% Midl'd Stl 1st pf(8) 3% Minn Moline Pow. . 31 Minn Moline Pow pf 2% Mo Kan & Texas... 6 Mo Kan & Texas pf. 1% Mo Pacific (k) 1% Mo Pacifis pf (k)... 10% Mohawk C M (h25¢) 55 MonsantoC(1).... 21% Montgomerv Ward, % Mother Lode....... 17% Motor Products.... 7 Mullins Mfg. 367% Mullins Mfg pf.... 4% Murray Corp 12! Nash Motors (1)... 14 Nashv Chat & St L, 41 Nat Acme Co ... % Nat Ry Mex 2d pf 25'% Nat Biscuit 2).... 131% Nat Cesh Reg A 600 14% Nat Dairy Prod 1.20 1% Nat Dept Store (k). aroa 103%s 157% 25'y 34% 104 1% 343 19% 1% - BOCIIT B 0 a3 82 bt 1 1 X 1 17% Nat Dep St 1st pf(k) IM)- 15 Util. Stocks. +.3 221 218 23.5 35.4 26.6 216 40.6 242 239 184.3 61.8 +.4 353 349 394 46.3 41.6 348 514 349 16.9 1577 618 Net. Add 00. High. Low. Olose. Chge. 10415 105% +1 4% 1174 117% 17% 17 3% 20.* 110 4% 6% 110 + % + % + 4% 4 20% + % A + % - +, % +% iy 4% 6 - % 1 )‘A 111‘{ 22% 23 99 1 147 l; - '4 99 1 1474 lb'z i fian S+ 26% 47 4 1023, 103 1574 157% 247% 104% 104‘1 . 2 1 3412 1% 34% + 19% 19% 11 11% + 13% 13% + % 45 9 8la 45 9% + 85 + 1% 1 44% 45 + % 6l 89 21 347 3512 + 1% 8 4% 5 6% 241 6% + 89 21% - n i % 1 8 %+ % 5% T + % 24% 37% 3Th +1% 38 28 25 . 10 38 — % 29 41% 28 + 4 mu-'- % Gl% 61“ o 83 3 6% 1% 2 11 58 33 +1 3 + 4 6% 1% 2 11% — % 58 + W 22% 23% + % L 2:30 p.m, Prev. 1935 Stock and Bales— High. ' Low. Dividend Rate. 50% 40% Nl! Steel (11%) Supply Co. Tea (60¢c) . 43 ‘N.wnmyu 35150, tors (k).. Hartford 6 NYNH & Hart pf. 25% N Y Ontario & West - % N Y Railways pt 64 N Y Shipbuilding. 36% 304 Noranda Mines (h2 175 158 Norfolk & W (110). 4 2 North Am Aviation. 134 9 North AmCo(1)... 42% 35% North Am Co pf (3). 69 57 North Am Ed pf (6) 217% 13% Northern Pacific. .. —_— 107% 9% Ohto Q11 (h45¢).... 4% 215 Oliver Farm Equip. 1i% Oliver F prpf A 57x Oppenheim Collins 14% 23% 18% Pacific G& E (1%). 19 Pacific Lighting (3) 77 70 Pacific Tel & Tel (6)x 308 1'0- 111% Pacific T & T pf (6) 108 % 7 Pac W'nOil (ha0c). 6 5"- 3'2 Packard Motor..... 11% 10% Pan American Pet. . 4% 2% Par-Publix ctfs (k) 8% 2% Park Utah... 1% 7 Parmelee Tran 1 % Pathe Excha 17% 117 Pathe Excha 125 8% Patino Mines. ... 6413 Penick & Ford (3)., 64 Penney (JC) (2)..x 2% Penn Coal & Coke. . 3 Penn Dixie Cement. 174 Penn R K (1). 30 Peoples Drug S (1). 17% Peoples Gas Chi. 12% Phelps Dodge(h75¢) 23 Phila Co $6 pf (3). . 2 Phila & Read C & 1. 351 Philip Morris (1) . e 13% Phillips Petrol (1), 14 Prerce-Arrow (k). .. 1; Pierce Petroleum. . 311 Pillsbury Flour 1.60 5 Pitts Screw & Bolt.. 13 Pitts Term Coal pf., 25 Pitts United C pt... 6!y Plymouth O1l (1)... 1% Porto Ric Am Tob A ®lx Postal ‘] 1% Pressed gt 63 Pressed StlC pt (k) 42% Proc & Gamb (13). :115 Proc & Gam pf (5) .. 0% Pub Serv N J (2.80) 621 Pub Serv N J pf (6) 8 73 PubSve NJ pt (6). 108% 100 Pub Serv N J pt (8) 527 41% Pullman Inc 2 d).... 74 4 Radio Corporation. 50 Radio Corp pt A 3% 85'4 Radio Corp pf (B). . 1 Radio-Keith-Or (k) 8 Reis (Robert)1st pf & Reminxton-Rand... 214 Reo Motor (ar. ... $ itepublic Steel. 28% Republic Steel pf. .. ) Reynolds Metaisl). 46 Reynolds Tob B (3) » Roan Antelove Ltd. toy’l D h135 3-1ve. 37! Safeway Stores(3). 110 Safeway Strs pf (7) 10% St Joseph Ld (40c). 6 Savage Arms..... Schenley Distillers. Schulte Retail Strs. Schulte Re Strs pt. x “Seaboard Air L (k). 20% Seab’d OiltDel) (11) 31 Sears Roeb'k ( 7% Servel Inc. 9 Sharon Steel Hoop. 7% Shattuck:F G)25c. Shell Union Ofl. ... Shell Union Oil pf.. 8% Stiver King C (4u¢) 6 SimmonsCo....... 167 Snider Packing.... 11 Socony-Vac (60c).. 20 Sou Por RicoSug(2) 10% South Cal Ed 13%).. + Southern Pacific. ~ Southern Rallwa Southern Rwy pf... 315 Sparks-Withington. 33 Spencer Kellog 1.60 7' Sperry Corp (25¢) ., Spiegel-May-Stern. 5 Stand Brands (1). 3 Stand Brands pf (7) tand Gas & Elec... 1% Stand G & E $4 p 4% Stand G&E $6 pt 6 Stand G & E §7 pf “RIGGING” BlAMEI] 10t 10 : B 2 1 99 508 10 4 FOR COTTON BREAK A A A Method of Manipu- | lating Market Is Unsound, Editor Declares. Special Dispatch to The Star, NEW YORK, March 19.—The March break in cotton was inevitable in a market rigged as is the present one, declares Douglas G. Woolf, editor of 2 | Textile World, in an editorial which is to appear in the March issue. Mr. Woolf terms the A. A. A. method of manipulating the market as “funda- mentally unsound” and advises that “a careful retreat should be the A. A A’s marching orders.” “Quite aside from all the discus- sion of the technical reasons for the break in cotton,” he declares, “one sobering fast projects itself: This sort of thing is inevitable in a market rigged as is the present one. We pretend to no expert knowledge of the technique of that market, but plain common-sense tells us that a price structure which has been created artifically and which is then ‘sup- ported’ by loans against itself, is not the kind of game we'd put our money on. “The surprise, then, is not that the break came but that it was so long coming. Most shrewd observers Whom we know have had their ‘fingers crossed’ expecting just this sort of thing. Irrespective of what an in- vestigation proves to have been the cause of the March break, and irre- spective of how sharp and how ap- parently permanent the recovery from it may be, the possibility of a recur- rence—and on a grander scale—will be always lurking around the corner. fact. There is one attitude of the Department of Agriculture which worries us tremendously. It is the complete resistance of its officials to the least intimation that anything they may be doing could possibly be wrong. This attitude tends to nullify the very obvious sincerity of purpose prompting that department. Some- how or other, this inflexibility has got to be changed. “No sensible person—regardless of his opinion of A. A. A. economics— would expect the Government to step out of the cotton picture abruptly. It just can't be done. But any sensible person will expect the Government to make plans for gradually easing out of an untenable position—and to take agriculture and industry into its confidence as those plans develop. “Otherwise, the March break will prove to e been just the first skirmish in a bitter battle with eco- nomic laws, the ultimate outcome of Net Add 00. High. Low. Close. Chge. 41 High. 1% 32%, 41 -4 % 9 + % 49% + % 13 +% 11% + % 4% —1% % - % 25% 431, 64% 1% 9% 3 120 2% EEFIFEFEES Fritdiibatd + 4+ Sk 10 W | 103% Ty 36% 5% 8% . 8% 5% 6 27% 61 50% 49 16% 11 BBY, 26' 15% iz =¥ 2614 Ay a5 0% 94 | 130% T 2% 19% 2 14 B1s, 14% 37 557x 211 52 44 217 stock atock. AR R R By the Associated Press. NEW YORK, March Prev. 1935 % les— ‘Dividend Rate. Add 00. mn- Low. Clc;o Chll 1% 113% 111 cash paymen declarations | 8% in stock dividends ganized m P! in stock New York Cotton Stock and L) Lov- 1% Stand Inv Corp.... 27% Stand Oil of Cal(1). Stand Oil Exp pt(5) 23 Stand Ofl of Ind (1) 35% Stand Ol N J(11%) 583 Sterling Prod (3.80) 1% Sterling Secur (A).. 6% Stewart-Warner. 215 Stone & Webster 2% Studebaker (new 115% Sun Oil pt (6).... . 1% Superior Of1 15», Texas Corp (1)....1 307 Te: Gu.fsul(l)u 3)4 Tex Pag Coal & O11., 814 Tex Pac Land 5'% Thomp'n(JR) (F@ . 13% Thompson Products 1% Thompson Starrett. 7% Tide Wat Asso Oil 100 Tide Wat Oil pf (5. 4% Timken-Detroit. 28% I'imken R B (1).... 47 Transamerica (25¢) 5% Transue & Williams 1% Tri-Contl Corp.. 4'% Truax-Tra Coal 312 Truscon Steel. .. 18 TwinCity R T pf. 54 Und-Ell-Fisher (2). 41 Un Bag & Paper (4). 44 Un Carbide&C 1.60 14% Un Oil of Cal (1) 834 Un Pacific (6). 7915 Un Pacific pf (4) 207% Un Tank Car (1.20). 974 United Alrcraft.... 4'3 United Afr L vtC. .o 23% United Bisc (1.60). 46 United Carbon 2.40. 114 United Corp. 20% United Corp p! 9% United Drug.... 3% United Elec Coal... 71% United Fruit (3)... 2% United Gas Imp (1) 87!y United Gas 1 pf (5). 40'; U S Gypsum (1).... 35' U S Ind Alcohol (2). 35 U8 Leather. 14% USPipe & F 3 U S Realty & Impr 9% U S Rubber 24%; U 8 Rubber 1st pf. - 2 USSmelt&R (h9). «USSm&RDI(2%). 27 U S Steel..... . 73% U S Steel pf (2).... 119% U S Tobacco (17%). 3% United Stores (A) 1'% Univ Pipe & Rad 12 Univ Pipe & Ra 1 UtIPwr&Lt(A).. _— 2 Vadsco Sales Corp. 3% Vanadium Corp. 11% Van Raalte. . 34 Vick Chem (12.40). 21z Va-Car Chemical... 18 Va-Car Chem 6% pf 72!3 Va El & Pwr pf (6) . Walgreen Co (m1). Walworth Co.. 2 Warner Bros Pic. % Warner-Quinlan 2 Warren Bros 4 Webster Eisenlohr. 1 WellsFargo....... 80! Wesson O &S t1k. 36 West Pa Elec pt (6) 397% West Pa Elec pf (7) 95 West Pa Pw pf (6). 5'3 Western Maryland. 23 Western Pacific pf. 20% Western Union.... 181; Westingh'se AB 60c 32% Westingh'se Elec 90 Westh'se 1st pf 3% 10 Weston Elec Inst. . 46'2 Wheel Stl pf (j50¢) 67% White Motor. 18'; White Rock NS ) 1%« White Sewing Mch. 4% Wilson & Coal2ie 68 Wilson & Co pf (6 51 Woolworth (2.40).. 11% Worthingtan Pump 35's Wright Aero....... 2% Yellow Truck... . 18 YoungSp& W 1%’ 13 Youngstown S&T.. _— 3 Zonite Products. 110,000 300,000 € Favabl, m cash ot stoc < Pius 4% (3 stock k Oomnllu!a repomd lus in stock. B X Ex- flldl 19.—Cotton ) FINANCIAL, 1% 10 28% 28% 1 113% 113% 26 23 23% 35% 62% 1% Th 2% 2% s 119% 1% 13% 3% tPartly extra b Payable 1n receiversn! lus 3% ip or i stock. “ % - % % ] e T +4 T Sales of Stocks on m New York Exchange 1 g 12:00 Noon. 2:00 PM Dividend rates as eiven in the abov ts based on the latest 1u s Unit of trading less than 100 sbares hPlld last year—no regular rate. 1PIus Dein, o Plus 2% S. E. C. STAYS OUT OF ELECTION FIGHT e 1| WHEAT— Open May . 01 “The obvious answer is that the| Government has got to realize this| recovered more than half of yester- day’s losses on covering and buying ”nnusn(‘ed by steady Liverpool cables. May sold up to 10.€9 and ruled around 10.68 n the afternoon when active months generally showed net advances of 30 to 36 points. Liverpool Quotations, LIVERPOOL. March 19 P.—Cotton, 9000 ‘bales: “American. none. ' Spot limited demand: prices 9 aQuotations in pence H middling, 6.90; good midding. middlineg. i middling. 6 middling; 6.15; low middling. g00d ordinary.’ 5.70: 00 FOREIGN MARKETS. By the Assoclated Press. LONDON.—The resignation of the Bel- gian cabinei causea gold mining shares and other_continental favorites to weaken on the Stock Exchange today. but otherwise the markets were fittle affected. confdence | loped on overnight political developments Gilt-edged securitics.” trans. | Atlantic s. _industrials and rubber | shares improved. The market closed steacy. | PARIS.—Pirniness develoved on the today under the influence of the rise in chemical shares. _International issues were strong. while Beigian stocks held fum, The closing was strong. | BERLIN.—Prices on the Boerse today were firm {nroughout_the hst Steel works shares which gained a point. and mining industry stocks were preferred in view of rearmament, activity. having de Bourse e POTOMAC EDISON GROUP OPPOSES UTILITY BILL By the Associated Press. FREDERICK, Md., March 19.—Op- position to the utilities act now before Congress was expressed last nightata meeting of 300 stockhoiders and em- ployes of the Potomac Edison Co. R. Paul Smith, president, was chief | speaker. = “Chicago Great Western Railroad January net loss was $279,558 vs. net lass of $158,139 in January, 1934. Nominating Committee Receives | No Suggestions on Exchange Selections. By the Associated Press. NEW YORK, March 19.—R. Law- n | rence Oakley, chairman of the Nomi- nating Committee of the New York Stock Exchange, disclosed yesterday that the Securities and Exchange Commission has kept hands off in the market’s pre-election tussle. “So far as the Nominating Com- mittee is concerned, we have received no suggestions from the Securities Exchange Commission,” Oakley said following the third and final meeting for exchange members to suggest nominees to stand in the annual elec- tion May 13. Recently Wall Street rumor said the commission would like to see Richard Whitney, now exchange | president, ousted from office. Reports in well-informed quarters that the Nominating Committee shad decided to name Charles R. Gay, pnrmer in Whitehouse & Co., instead | of Whitney as candidate had led ex- change circles to suppose that the ‘Whitney backers would put up a strong fight in his favor at yester- day’s final meeting. Those who attended the session said it was “extremely harmonious.” Four added to the list of sugges- tions for the presidency were Walter L. Johnson, Allen L. Lindley, Peter J. Maloney and L. Martin Richmond. FAILURES TOTAL LARGER. NEW YORK, March 19 (#)—Busi- ness failures for the week ended March 14 numbered 232, compared with 216 in the previous week and 249 in the same period last year, Dun & Brad- street reported. .| BUTVOLUME LAGS Late Tone Steady to Firm, With Buying Limited to Selective Basis, BY VICTOR EUBANK, Associated Press Financial Writer, NEW YORK, March 19.—The stock market worked quietly higher today in dull trading that was somewhat se- lective in character. Early gains of minor fractions to a point were maintained by American Telephone, General Motors, United States Steel, Chrysler, Allied Chemical and J. 1. Case. The late tone was steady to firm. Sales approximated 500,000 shares. Although the foreign situation ree mained somewhat confusing, the market derived considerable satisfac- tion from the action of the British pound sterling which ran up briskly in foreign exchange markets when gold bloc currencies felt the full ef- fect of the Belgian government’s downfall on the gold standard ques- tion. The opinion of well-informed quarters that the American stabiliza- tion fund was at work to smooth the kinks between the dollar and sterling also was a stabilizing factor. Firmer spots in stocks were the shares of sugar companies which have been under quiet accumulation for some time coincident with marked improvement in that industry. Amer- ican Crystal Sugar preferred gaimed 4 points and improvement of around 1 was shown by Cuban American pres ferred, South Porto Rico and Great Western In other sections of the list, gain- | ers of around 1 point included Proc- tor & Gamble, United States Smelt- ing. Noranda Mines, Santa Fe Union Pacific and Continental Can United States Steel, American Tele- phone, Western Union and J. I. Case were among others advancing frac. tionally. The most disappointing featyre of the market for those working for higher prices was seen in the small volume brought out by the moderate upturn, but this same condition was a source of consolation yesterday when 10 great volume was brought out when prices were in a downward spiral. Chicago Grain By the Associated Press. CHICAGO, March 19.—A fractiona) recovery of prices tcday was the grain market’s rather feeble response to the more pacific tone of European politi- cal news. Uncertainty over interna- tional currency movements tended | to restrict dealings, but on the whole a better feeling prevailed among | traders. | A sharp 1ally in cotton and discour- | aging crop news from domestic Win- ter wheat territory, with dust storms continuing, were bullish factors. Wheat closed '« to 34 cent higher; May, 91%-3;, and com was 1 cenf lower to 3; up; May, 77%-%. Oats | gained fractions and rye was un- | changed to ; higher. Provisions were rm. Low. Close. September, | RYE— May July Septe.nber.” Chicufl Ca&h erkfi. Cash wheat No. 3. red, 931 2, hard, 1.00'2: No. 2, mixed, 97‘ corn, No. 2, \ellnv 82%; oats, No. 2. vhite, 49; rye, buckwheat, soybeans, ne sales; barley, 68-1.20; timothy seed, 16.75-17.75 hundred\lelght' clo- ver seed, 15.25-18.75 hundredweight. l.mnool Grain Prices. LIVERPOOL. March 19 @ —Wheat futires cloced steady P Mareh . Ma | July October Exchange, 4.76 Baltimore Quotations. BALTIMORE. March 10 (P —Close, wheat. No red Winter, garlicky, spot, domestic. March, 3. FOREIGN EXCHANGES. YORK. March 19 () .—Forei; exchange irregular: Great Britain in Gon others in cents. Great mana 4 5ers 7 763 Prance. 65934 Ita De; Austria R, ia, 1.01: 86010 8.85n: Hunj Argentina, i 48 3 ng = 3 'Q\Xfll gllvk « ;l]VQr peso), o féal in New York. 09.00. N York in Montreal. 101.00, i n—Nomina Porterhouse Steak— Charcoal Grilled 1107 Connecticut Avenue Second Trust Notes We will buy monthly payment de- ferred purchase money second trust notes. secured on owner - eceupied dwellings in District of Columbia. Union Finance Co. 916 Woodward Bldg. Nat'l 7936 l“fllhn flm ‘Il BRADLEY, BEALL & HOWARD Phone Na. 0271 Southern Bldg. Established Over 35 Years ladelph SEASONED INVESTMENT SECURITIES Selected List on Request GILLET & C4&, 24% 17% Douglas Afrcraf! 29% 24% Nat Distillers (50c) 56 which will be defeat for every one Woodward Bldg. Natl. 2460 5776 air quln:;' 7% 6% Dresser Mfg B . 5% 3 Dunhill Internati. .. 1 6% 12 19% 19% 19% +1% €% i them- 231% Nat En & Stpg (h1) x 4% Nut Pwr & Lt (300), 2 38 3 3 29 except the laws mmmm:uuu.u) 22.884 874 88K +B .T% . o ¥ % : L '-'flé-.v n'h. -.32‘“‘?“%“