Evening Star Newspaper, March 21, 1935, Page 17

CURB LIST TENDS TO HIGHER LEVELS- Prices Helped by Strength of Specialty Shares and Utilities. EESE By the Associated Press. NEW YORK, March 21.—Helped along by strength in specialties and utilities, the Curb market was fairly steady today. A.xg:yeric‘n Gas and Electric Bond & Bhare each gained more than a point snd fractional improvement occurred in Niagara Hudson and Cities Service. Spectalties up 1 to 3 included Grey- hound, Montgomery Ward “A” and ®arker Rust Proof. Metals, including Lake Shore and Wright Hargreaves, were inclined to sag and oils showed little change. BONDS THE CURB MARKET. DOMESTIC_ BONDS. Aluminum btfl bl 45 B 9‘5 2 Bgt; vsh A &E 07% 98 ali‘a gtfi!' 0% lgl"z l0~|‘z HM“; Canadian Carolina it Sty P 1 Eleve xl n &L Coucible steel 5s Georgis Pw 5. Ga P % giler ploeg & 4108 all Ptg Blos . 2% 72 Houst Glf G 63 A '48.. 943 04% 9i% flous LAE o5 23- -2 100 100w 10am o ® ’°3"n'n“u 47,20 0% 100 100 1l Pw & {-‘ g htersta Bw 5; % ntersta_Pw_6: resge Bs 4 3 Manitoba Pw 5ias 51, 56 Mass Gas 5s 87 fass Gas biss 9 93 9% Metro Ed 5s P 6 1043 104% 1048 I‘gl.\sdu 5 lfl d" 7;‘( 7%’ 7;’ 1 ‘32 cor B Y 78% 7RY, 78% 95" 95 95 0 6 1 106% 106% 106% 106% 106% 106% 0472 10472 10413 8 ‘44 Wike P&L B B8Y i Wis P Ser A 2 . 101% 101 P'QRIXON BONDS. .‘nl 30% 3 2 82 "—Wlth 'nrnnu xl—wmw ar: nts. Ne' wi—When Isluld st 'Com munumflu RN b TSl e CHICAGO LIVE STOCK. CHICAGO. Msrch 21 () (U. 8. Depart- ment of Agriculture).—] cluding 5,000 direct Xty 10000 than Wedn pounds, 8 70-8"v pous : 508 sow: t G000 and chote 140060 820; mml weight, 160 .o黓‘““"’a 775 um | l - pacl nl S0WS, i1 i S mtfl lum. ‘nnd IM cat’le and vealers: Steers, 500-200 mundl', 9. sn 'J 38 o moz ¥a- cutter bulls 0087.00: cul e: amu 53« Sna taoice, 800-1 0 '; n-d common and meabum""'iI s i. 4008 4 shotes U §. TREASURY POlm(JN tion of the Tress: 124.9; -;k“u pEOE net 2. ustoms receipts for m ‘month, sx .ns’l Reeel f r (since July 1327 08 881045 uun fures, 84,0300 Gipclad SRR fhency s nu asatis. fi mn £218.140; “Mam mfi stoms receipts for Lfie monlh 50-78 pou: b 38, lbll {ures, !i‘o 751.350. umhmmumlu. Sales— Ldbll": Millis ms llt nf (l).. 25- 105 ly (B Alr In; lne wl ‘Ala Grt'Sou (k2).. Ala Pwrpt (1), Allied Mills, Ino. Alum’n Co of Am. 400s Alum'n pf (1%)..150s Am Capital (B)... 1 Am City Power & Lt (A) (a3)1708 Am Citles Pwr &Lt B (k10e) 1 Am Cynam(B)40e. 20 Am & For fwwar 2 AmGas& El11.40. 80 Am Gas&El pt(6) 2758 Am Laundry(40c) 3008 Am Lt&Trac 1.20. 19 AmLight & Trac pf (1%). 1 Am Superpower.. 18 Am Sup’pwr pf.,., 18 Am Sup'pwr 1st pt Appalachan Elec Pwrpf (1)..... Arcturus Radio T. Ark Nat Gas...... Ark Nat Gas (A). Armstr Cork (50¢) As80 Gas&E] (A). Atl Coast Fishe. Atlas Corp. . . Atlas Corp war... Auto Vot Mch 60c. Ax-Fisher(A)3.20 ——— Bliss Co (E W) Bower Roll B ( Brazil Trac Lt&P. Brillo Mfg (80¢). . Buft N&EP pf 1.60 Buffalo Niag & Eastpt1st pr(§) 1 Bulova conv pf. Bunker Hmtsm 200I Burma Ltd (k977-10¢) 1 Butler Broi 12 L Liamgeene? S 5 EITr TS Cables&Wire (A). Cables & Wireless f (k9 9-10c). Can Marconi. Carib Syndicat Carrier Corp. Catalin Corp. Celanese 1st pun 1008 Celluloid Corp. . Cent States Elec.. 3 Cent States Elec 6% pf xW Childs Co p! Sl Cities Servi Citles Service pf.. Cities Service P& Lt $6£.100s Cleveland Tractor 7 Colon Ofl......0n Colt'sPatFA 1% 100l Columbia Gas & Elec cv pf (5) 4258 ColumbO&G Vte 4 Com'with B4 4).. 5§ Comwith&So war, 13 Como Mines.....- 40 Compo Shoe (50¢) Cons Copper..... 10 Cons Gas ot Balto (3.60) 5 Cons Retail Stores 1 Cord Cerp........ 3 Corroon & Reyn.. 1 Crane & Co 7508 Creole Pet: 8 Crocker Wheeler. 1 Croft Brewing.... 1 Crown Cork Intl (A) (m75¢) Cusi-Mexicana M. Dictograph Prod.. Distillers Co Ltd (p27 3-10c) Diatillers Crp-Ses Distilled Liquors. Doehler Die Cast. Dow Chemical (2) Driver Har (k50c) Duke Power (3).. Duval Tex Sulph, Eisler Slec Corp. . Elec Bond&Share. Elec Bd&S pf (5). Elec Bd&S pf (6).. Elec Pwr As (40c) dl:u Add 00. High. THE EVENING STAR, WASHINGTON, D. C, : 4 ; sésé A-I7 NEW YORK CURB MARKET[}[EARWGSSIAG Stock and Salés— Dividend Rate. Add 00. High. Low. Close Elec Power Asso (A) (40¢).... 6 3% 3 k20 BEleoPwr& Lt opt war.. ! 1 1 1 Elec Sharhold’g 1 Eleo Share pf ww. 100- Equity Corp...... European Elec Ltd deb rights % % Fairchild Aviat'nm. 6 8% 8 8% Fanny Farmer Candy (t31%¢) B 8 8 First Nat Stores . 308 114% 114% !.14“ % 0% 10% 10% 27% 28 % ™% 1 41 41 41 1% 1% 1% Fla Pwr &Lt pf Ford Mot Cen (A) (K1%). Ford Motor Ltd... Garlock Pack'g(1) 1 Gen Pub Sve pf... 20s Gen Tire & Rubber 258 Ga Pwr $6 Df.....1268 Glen Alden C 113 Globe Und (k50¢). Gold Seal Electrio Grand Rapids Varnish (60c) Greenfleld T & Die Ureyhound (Del). GulfOflof Pa.... Hail Lamp (40¢c). Hecla Mining..... Hayden Chm t1%. Hollinger G t76e. . Horn&Hardt 1.60. Hudson Bay M&s Humble O11 (1)... Hygrade Syl (2)..200s 11l Pwr&Lt 36 pf. 3508 Imp O1! Ltd cowp (180€)..i00vees 9 Imp Ofl reg(t80c) 2 Imp Tob Can (15234¢). 1 Intl Hydro Elec System ov pt 800s Intl Petrolm (13). 15 Intl Util (B) 1 Interst Hos Inty 1pf. Irving A C (p. Jones & Laugh Stl —_— Kirkland Lake G1d Laxe Sh M (14) Lakey Fy & Mch. Lehigh C&N(50¢c). Libby McNelll&L. Lone Star G(plbe) Long Island Light Long Island Light PrA(7)... Long Island Light 2 Lynch Corp McCord Rad (B).. 1 Maryl'd Casualty. 1 Mayflower As (2).100s MerrittChap&S. 3 Mich Sugar pf.... 1 Mid West Utll (r) 2 Mohawk Hudson 18t pf (4) 300s 30% Molybdneum. ... 10% 10 104 Mont Ward (A)(1) 20s 136% 136% 136% Mount Prod (60c). 6 4% 4% 4% Mount State Tel & Teleg (8) 208107 107 107 —— Bella 1 1% 1% 1% Dairy pf A( ) 768 106% 106 106 Fuel Gas (1). 13 14 13 13% Leather...... 1 1 PwaLt pf (6) 9508 50% 49 Rubber Mach 10 8} atomasCo(600). 1 9 New Brad Oil20c. 4 2 NJZine (2)......250s 52% Newmont M (k1). 3 36 NYSteam....... 1 4% Niag Hudson Pwr 38 3% Niag Hud Pwr (B) war. 1 b Niag Shrs(Md) B. 1 2% Nipssing(k12%c) 4 2% NorAmL&Popf, 1508 § Northern States Power (A). 6 10 Novadel Ag (3)... 2 Ohio Ol cu pf (6). 50 % | Utilities P&L pf. . Dlvluna lm-. ud oo Hllh' m ao- Pacific Eastern... Pac Gas & Elec pt (1.37%) Pac Gntlflu oL (1%) Pac Lizht“ pf(l) 258 Pantapec O1) Param’t Hn(ah Parke Davis 11 Parker Rust P( Pennroad Corp Perfect Circle Phila Co (80¢) Phoenix Secur. Ploneer Gold Mines Ltd(80¢c). 6 Pltney Bo P (20¢) 1 Pitts Plate Gl (2) 300s Pond Creek Pocahontas (3). 1 Potrero Sugar.... Premier Gold 12¢.. 5 Prod Royalty 3%e 2 Prudential Invest. 3 Pub Service Nor Ill no par 50s Public Service Nor I11 $60 par. 50s Puget Sound P& L §5 pt 2208 Puget Sound P&LIID!‘.. 50- Ofl pt 0s 2 2 1 1 Reeves(Dan) 50¢c. Renable Stor Reybarn Co.. Reynolds Invest. . Royal Typewriter. Russeks Fifth Av. o o e H o~ St Regis Faper. .. St Regis Paper pf. 10 Selected Indus.,. Selected Indus allot efs (3%).100s Shattuck Den .4in l Shenandoah Sherwin Will (3). 925l Smith (A Q)..... 600s Sonotone Corp.... 7 South Am Gold & Plat (40c) 2 Southn Calit EdispfBi1%).. 3 Southn Calit EdpfC(1%) 1 Southl'd Roy t26¢ & Stand OKy(t1%) 2 Stand Ofl Ohlo. .. 1508 Stand P& L pt. .. 150 . Starrett Corp pf. Stein(A)&Co p2e 100- Stein Cosmet (r) Suliivan Macht Sunshine (30¢) Stutz Motor Swift & Co Swift Intl (2) Swiss Ofl (40¢. <} - = Kumma Tampa Elec (2.24) Tastyeast. Inc(A) Technicolor, Inc. . Teck Hughes(40c) Texas Gulf Products(b10%) Tob Prod Ex(10¢) e wBno Unit Carr F ( Unit Corp'n war, ., Unit Founders... Unit Gas Corp.... 32 Unit Gas Corppf. 14 Unit Lt&Pwr (A). 10 Unit Lt&Pwr (B). 1 Unit Lt&Pwr pf.. 19008 1‘ Unit Shoe M(Y434 275s U SFol (B)(60c). 5 ~o U 8 Playing Card (11.75) 508 Unit Verde Ex 4V Utilities Pwr&Lt. 45 508 Utllities P&L (B). 1 Utility Equities. . 1 Utility Ea pt(3%)150s | Utllity & Induspt 1 Waco Afreraft. 2 Walker (Hiram).. 15 Walker (H) pf(1) :; 2y, | Wenden Copper. . Westn Pwr pf (7) 251 West Tab & Sta(1) 1 Westvaco pf (1) Yukon Gold ll‘i US&Intl Secur.. 1 % 19% 19 22 6% 1% 3% 6% 62 1% 35% 5% 1% 3 18 258 101% 101% 101t Wright Har(16 17 9% M 9% THURSDAY, MARCH 21, 1935 FURTHER ADVANGE Week’s Total Represents In- crease of 14 Per Cent Over 1934 Level. By the Associated Press. NEW YORK, March 21.—Bank clearings took another spurt upward, exceeding those for any preceding week this year. The total for the 22 leading cities in the United States for the week ended Wednesday, March 20, as reported by Dun & Bradstreet, Inc., was $5,088,222,000, against $5,251,441,- 000 for the same week of last year, an increase of 14.0 per cent. This contrasted with a gain of 17.0 per cent in the previous week. At New York City clearings were $4,166,235,- 000, an increase of 13.3 per cent over the amount reported last year, while the aggregate for centers outside of New York of $1,821,987,000 was 15.8 per cent higher. The larger gains continued at some of the cities in the West and the South. A large increase also appeared at Philadelphia and_Pittsburgh, as well as at Chicago, Detroit, Cincin- nati, Baltimore, Atlanta, New Orleans, Kansas Oity, 8an Francisco and Seattle. Clearings the last week were in ex- cess of those for the second week of March by $363,806,000, whereas for the same two weeks a year ago the increase was $444,140,000. PFigures at leading centers showing Increases and decreases as compared with those of a year ago, are printed herewith; also, daily bank clearings for each month this year: (Totals in thousands.) .. 3211530 0 Beattle Total New York Total all.. Average dail: March to date Feoruary January BANKS REPORT CLIMB IN SECURITY HOLDINGS By the Associated Press. Banks continue to expand their " | holdings of securities, mainly Federal Government obligations, in the ab- sence of active commercial demand for loans. A rise of about $250,000,- 000 in total loans and investments of reporting member banks of the Federal Reserve System since the turn of the year is accounted for by increased se- curity purchases. They added $62,- 000,000 in Government issues tc their Py portfolios in the week ended March 12. Comparative figures on aggregate loans and investments, as reported to the Federal Reserve Board by members in 91 cities, follow: eek ended March 13. eceding week . week {ast -+ -$18,322,000,000 TOMORROW | j.pler. 00 | 69.50b; July, 58.90b; b—Bid Improvement Seen In 1934 Profits of Remington Rand By the Assoclated Press. NEW YORK, March 21.—Reming- ton Rand, Inc, reported that its profits for the final quarter of 1934 were $560,778, equal to 19 cents a share on the common stock. In the third quarter profit was $224,573, equal to $1.43 a share of preferred stock, and in the last quar- ter of 1933 the net income was $444,- 741 or 10 cents a common share. Sales for the December quarter last year totaled $9,222,179, the best volume for any three months since the first quarter of 1931, The company stated that sales are currently running 25 per cent ahead of the same period last year. AUTO FIRMS BUSY MEETING DEMAND Dealers Report No Early Abatement in Sales—OQut- put Still Rises. By the Associated Press. DETROIT, March 21.—Dealers’ stock requirements continue to make demands upon production as the au~ tomobile industry nears the end of the first quarter of what promises to be the best manufacturing and dis- tributing year it has enjoyed since 1930. A survey of virtually all pro- ducing units of the industry indicates all plants have maintained or stepped up production levels while the retail division reports movements through its outlets shows no indication of an immediate abatement. On the basis of current activity in the assemblmg plants, the present week should see factory output go well over the 100,000 unit mark for the first time this year. The bulk of this volume, of course, is being pro- vided by Ford, General Motors and Chrysler. The Ford company, opera- ting six days a week, has passed the 6,000 cars-a-day point, probably near its maximum production objective. Other producing units also appear to have swung into the upward stride of the industry as a whole. It is sig- ness appraisals at the moment, that expanding production of the automo- tive plants includes an increase in the output of commercial vehicles as well as passenger cars. How long the present steady in- crease in factory production may be expected to continue is a question arousing considerable debate in trade circles and among production chiefs of the leading units of the industry. The first full week of the present mcath saw 86973 units produced During the following week production Wwas approximately 97,100 cars and 23, authoritative estimates have placed output at more than 100,000 units. ‘This makes certain the predicted' fac- tory volume in excess of 400,000 cars |and trucks for March. MONTREAL SILVER. MONTREAL, March 21 7. _-Suver fu- | tures opened firm 50.22b, on draught beer plea-| or the uitimate [0 UE 17, nificant, as evidence of general busi- | trucks and for the week ending March | “Sepiember, "60.500. | lower. Gunther's i8 anjof many umund AGTIVITY DECLINES |PRIVATE FINANCING.. AT COTTON MILLS| HELD GOOD SIGN February Rate at 100.2 Per Cent Compared With Previous 102.6. By the Associated Press. The cotton spinning industry was reported today by the Census Bureau to have operated during February at 100.2 per cent of capacity, on a single shift basis, compared with 102.6 per cent for January this year and 101.5 per cent for February last year. Spinning spindles in place Febru- ary 28 totaled 30,851,018, of which 24,925,168 were active at some time during the month, compared with 30,- 825,944 and 25,145,694 for January this year and 30,992,496 and 26,355, 498 for February last year. Active spindle hours for February totaled 6,575,356,524, or an average of 213 hours per spindle in place, com- pared with 7,510,017,005 and 244 for January this year and 6,692,120,318 and 216 for February last year. Spinning spindles in place February 28 in cotton-growing States totaled 19,392,148, of which 17,436,902 were active at some time during the month, compared with 19,369,446 and 17,494,- 428 for January this year and 19,242,- 476 and 17,893,586 for February last year. Active spindle hours in cotton-grow- ing States for February totaled 4,887,- 402,777, or an average of 252 hours per spindle in place, compared with 5,547,264,056 and 286 for January this year and 4,852497,141 and 252 for February last year. Active spindle hours and the aver- age per spindle in place for February by States follow: Alnblu OC“V.W“ 77! And "4". South Carolina. Tennessge. 160, d 15 Virthia 165075452 and 250, LATE EASTER IS FACTOR. NEW YORK, March 21 (#).—With the late Easter a factor, buyers are sald to be showing interest in inter- mediate types of apparel which can be sold both prior to holiday and later in May without a markdown, FOREIGN MARKETS. By the Associated Press. LONDON.—The comtinental _political situation restricted business on the Stock Prices saged under the d securities on_ lack of met with support. PARXS—E!fl!tHnl unuflr!u renrdl the Franco-German situa! tradin ihe Bourse was siugsish and prices e Slight opening gains in rentes were lost The closing was weak BERLIN.—After weaker opening, rices on. the Boerse were later stimu- ated by the German rejection of the French note. The closing was firm. PARIS BANK CHANGES. PARIS. March 21 (.—The weekly statement of the Bank of Prance shows The market closed | field of | increases. Gold | balances discounted at : bills bought decreased 5 abroad unchanged hume decreased 0 RUBBER FUTURES. NEW YORK. March 21 (®.—Crude [ubber futures cpened barely sieady; Dals May. 11.01a11.02;" July, 11.13 sepiomber 119081157 o‘f‘ For fi” “H G\mflm‘ o“le’f at vorite beeT | sull who knov | G he quality that the favo! Recent Negotiations Hailed ; as Possible Prelude to Real Recovery. BY RADER WINGET, Assoclated Press Financial Writer. NEW YORK, Match 21.—Recent.” stirrings in private corporate financing negotiations are acclaimed in Wall,, Street as a possible prelude to definite recovery. d Joseph P. Kennedy, chairman of the * Securities and Exchange Commission, ; revealed this week in New York that $288,000,000 in private financing was., “in the works” at the present time. In the first two months of this year, there has been a total private capital issue of about $37,500,000, of which * about $11,800,000 was new financing, with the rest used for refunding out= standing securities. Those totals, regarded by many as conservative, contrast with total pri- vate corporation financing in 1934 of about $491,000,000, of which about $178,000,000 was new capital. The previous year there was $381,600,000 in corporate financing, with $160,- 800,000 of it new. Optimism is founded on the fact that during depressions private cor- porations become timid and withdraw ' from industrial expansion activities. When recovery sets in, a manifesta- tion seen by economists as merely the return of private enterprise to the business, private financing Kennedy called on the captains of industry to forget their timidity and go back into business, and many - terpret the present indication of a heavy volume of refinancing as forma- tion of a basis for further extension of business through capital loans. Although private financing in the last few years has been predominately for refunding, almost all of it has been done at lower interest rates. This consolidation of corporation debt at & lower rate has been commended. Some, economists declare it is a necessary" step before issuzace of securities to raise money for business extension. NEW YORK PRODUCE. NEW YORK, March 21 «P._Butter; 9,778; firmer; cr 2h tra. 301,m31 80: easy: State whole-| fancy to speclals. 18328 ' e 208 rediy 4: dirties, No. 1. 36 checks, 107 siorage ‘packed frsis. Live poultsy weak: all freiant unquote the Gecreased 001000 000: other secu public depo: deposits de increased ¢ increased 1 wortion of the bank's reserva compared sed Sased. 1.408.000: other 2.041.000: notes reserve government securities VANADIUM LbSS REDUCED. NEW YORK, March 21 (A).—Va-_ nadium Corp. of America and sub-» sidiaries 1934 net loss $861,017, com- * | pared with net loss of $905,560 in 1933. i A i 25 — ' §aditions . Today» te beer ho knov: tha “:p\\old r plea- mht on b O ' Gu Fol '(' N