Evening Star Newspaper, March 27, 1935, Page 14

EVENING STAR, WASHINGTON, D. C. WEDNESDAY, MARCH 27, 1935. FINANCIAL. FINANCIAL. THE TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE [EAJERS TEND UP ON STOCK MARKET Sales— Add 00. High. 92 11% |U. S. Smelting Drops Seven A_14 wxx HEADS COMMITTEE FOR BANK SESSION William V. Simmons Named By private wire direct to The Star. 2:30 p.m. Bale: Add on High. Low. Close. cn-- : 4% 4%+ % 281 28% — % 91y 9 4% 4 230 .m. Prev. 1038 Stock and Hih ‘Low. Dividend Rate. A0400, mun % 1% Sterling Secur (A). 6% Stewart- Warner,,, 215 Stone & Webster..... 2% Studebaker (new). 1% Superior Ofl . . * Symington (k) 1% Symington (A) (k). Prev. 1935 Btock and High. Low. _ Dividend Rate. 1314 9 North Am Co (1). 42% 35'% North Am Co pf (3 69 57 North Am Ed pf (6) 21% 13% Northern Pacifie. .. 10% Net Low. Close. Cnge. 1% T — 3% — 2% N - %% 1% - Het Low. Close. Chge. 1% 11% + 39y 39% — 6415 13% ) 2% 18% STOCK AVERAGES Complled by the Associated Press. 30 15 Indust. Rails. +.3 Unch. «.. 505 18.8 Prev 1935 Stock ana High. EFFEF 15 60 Util. Stocks. +.2 +.2 239 359 415 Advance Rumley... 104% Air Reduction (3).. 15% Alaska Jun (11.20).. 9% On1o Ofl (h45e)....; 2% Oliver Farm Equip.. 1% Oliver F prof A Net change .. Today, 1 p.m. Chairman of Hotel Ar- rangements Group. BY EDWARD C. STONE. Wwilliam V. Simmons, trust of- ficer of the Liberty National Bank, has been appointed chairman of the Hotel Committee to arrange for the coming annual convention of the Dis- trict Bankers' Association, according to announcement by President Fred- erick P. H. Siddons. Mr. Simmons has been connected with the Liberty National for the past three years and previous to joining the staff was with the American Se- curity & Trust Co. for eight years. A native of Mississippi, he came to Washington in 1917, completed his education here and entered the bank- ing business. He is a graduate of George Washington University, hav- ing a degree of A. B. from the lit- erary department and another from the law school, and is a member of the District bar. The Hotel Committee is one of the most important connected with the convention. The other members | named by President Siddons include Archibald McLachlen, secretary and assistant treasurer of the Manthen‘ Banking Corp., vice chairman; Bruce | Baird, vice president and trust officer of the National Savings & Trust Co.; C. F. Jacobson. cashier of the Na- tional Metropolitan Bank: A. H. Law- son, vice president and real estate offi- cer of the Washington Loan & Trust Co., and J. Frank White, vice presi- dent and cashier of the National Bank of Washington. Bank Women Elect Officers. Miss Alice H. Whitton has been elected president of the Bank Wo- men's Club of Washington, the an- nual election having been held at the final meeting of the year at the Women's City Club. The complete slate follows: Miss Alice H. Whitton, assistant to the trust officer, First National Bank, Alexandria, president: Miss Eleanor L. Dankmeyer, Security Savings & Commercial Bank, vice president; Mrs. Laila M Sloat, National Metro- politan Bank, recording secretary; Mrs. Gertrude C. Wick, Liberty Na- tional Bank, corresponding secretary Mrs. Etheline E. Parker, Security Savings & Commercial Bank, treas- urer, and Miss Mary Craven, Hamil- ton National Bank, historian. The Board of Governors includes Miss Anne Crawford. McLachlen Banking Corp.; Miss Constance Fogle, | Riggs' National Bank: Mrs. Virginia Harrison, Mrs. Marion Sebastian, Na- tional Met:opolitan Bank. and Miss Eleanor C. Watkins, First National Bank, Alexandria. Miss Lois M. White ot the Hamil- ton National Bank served the club as publicity chairman during the past year. She is a former president and | charter member of the organization. Bankruptey Act Studied. Treasury officials are considering asking new legislation to facilitate | proceedings under the bankruptcy act of 193¢ and to protect the Govern- ment creditor interest in private corporations. Approval of the Secretary of the “Treasury is required by law if the Gov- ernment has any interest, through un- paid taxes, loans, contract defaults, etc, in corporations which seek to reorganize, with approval of the Fed- eral courts and after a hearing of cred- itors, under sections 7 and 77-B of the bankruptcy act of 1934. 1 There is now no provision for formal | notification of the Government when plans are submitted to the courts. The Treasury would like to correct two dif- ficulties: First, to provide for formal notification of the Government, and second, to give the Government a hearing before the court approves the | plan under question. The Government, through the Bu- reau of Internal Revenue, has adopted & lenient attitude in reorganizations vuth regard to modification of its ereditor claims. It is felt that busi- ness with sound prospects should be aided as much as possible. Financial District Comment. H. Prescott Gatley, president of the National Savings & Trust Co., Te- ceived many hearty congratulations today on the occasion of his 60th birthday anniversary. He was elected to his present position on May 1, 1934, when William D. Hoover was elected chairman of the board. Mr. Gatley | practiced law here many years before becoming active in banking. Investors in Washington were much interested in the action taken by the directors of the Norfolk & Western Railroad in calling for redemption on July 1 at 105 and accrued interest the $35,000,000 general mortgage 4 per cent bonds due July 1, 1944. A good many of these bonds are held here. No new securities will be issued in the transaction, This railroad is one of the few that has been reducing its funded debt for years. Halsey, Stuart & Co., bidding alone, were awarded the Danville, Va., $246,- 500 152; (average) 4 per cent school bonds yesterday on a bid of 109.794. ‘The bonds are being reoffered to yield 1 per cent to 3.25 per cent, according to maturity. Brown Harriman & Co. and Miller & Patterson bid 108.5134, while E. B. Smith & Co. and Scott & Stringfellow of Richmond bid 107.79. Telegraphic information was re- ceived today by C. J. Gockeler an- nouncing the death in Pasadena, Calif., of Louis W. Morrison, a mem- ber of the Washington Stock Ex- change for 25 years or longer. The Exchange adjourned earlier than usual out of respect to his memory, and President Y. E. Booker was in- structed to send a telegram of sym- pathy to members of the family. In recent years Mr. Morrison had been away from Washington much of the time but had retained his seat on the Exchange. Bank Employes Form Club. ‘The employes of the Bank of Com- merce & Savings have organized a club which is to be known as the “Bank of Commerce & Savings Em- ployes' Club.” At the organization meeting which has just been held the following were elected as officers for the ensuing year: W. W. Stiver, jr., president; Thomas J. Norris, vice president; Philip M. Grove, secretary. The activities of the club will be devoted principally to customer rela- tions, with an occasional social func- tion. Traction 5s Again Advance. Capital Traction 5s again moved to a new high mark for the year on the Washington Stock Exchange today, when they sold at 98%. Other trading was light, Peoples Drug Stores pre- ferred stock being strong at 11212 and Potomac Electric Power 5} per cent preferred also maintaining strength at 1143%. The Baltimore & Ohio Railroad re- ports net railway operating income on February amounting to $1,809.480, a gain of $385898 over February, 1934. The road also reports a gain of $954,« 40% 112 ' ) 12% 197 fla 08 64 558 8615 68 268, 15 105 110 18'4 Ty asi, 34N 15% 3l 223 2 20% 14 191 57% 181 | 1051 15% 519 19% kY 59% 45% 9% AT% 57% ln 624 28% 1% 40% 34% 48'% 68 157 674 39% 129 23 123 155 8 20 110% 8% 2 20% ™ 814 491 274 21 945 on net railway operating income for the first two months of the year. 22% 5% s Alleg Corp (k). 24 Alleg pf w830w (k. 2'3 Alleg pf wi40w(k 2'3 Alleg pf x w (k) 125 Allted Chem (6) . 123% Allied Chem pf (7). 12 Allis-Chalmers..... 4515 Amerada Corp (2) 45 Am Ag Chem Del2) 1314 Am Bank Note. 43 Am Bank N1f (3) 22 Am Brake Sh(t85¢c) 119 Am Brake Sh pf (7) 110 Am Can (45) 10 Am Car & Foundry. 2215 Am Comcl Alcohol. 6'3 Am Crystal Sugar. 57% Am Crvstal Sug pf. 2 Am & Foreign Pwr. 9% Am Hawailan SS(1) 17 Am Hide & Leath pt 2 30% Am Home P (2.40). 313 Am Iee Co. . 9 Am Locomoti 3" 32 Ani Locomotive pf.. 18 Am Mch & Fy (80c) 13% Am Metals......... 1'4 Am Power & Light. 8% Am P&L $5 pf (1%) 1014 Am P&L $6 pf nm 101; Am Radlator. 15% Am Rolling Mils. .. 4'; Am Seating. . . . 31%x Am Smelt & Ref. ... 103 Am S&R 6% pf (i3). 121 Am S&M 7% pf (1), 12 Am Ste@l Foundry., 34 Am Stores (12§).4: 5674 Am SUg (2).....000 126'; Am Sugar pt (1), + Am Tel & Tel (9)... 24, Am Tobhacco (5) 74% Am Tobacco B (5).. « Am Tobacco pf (6). T'x Am Water Wks (1). ' Am Writ Pap pf (k) .’l Am Zinc & Lead.... 8 Anaconda (opper... 16« Anaconda Wire 37« Armour of Illinofs. . 60% Armour (1l pr pf (6) 4 Arnold Constable... 36% Atch To&S F (h2).. 70% Atch To&S F pf (5) 20 Atlantic Coast Line 3 AtlGulf & WInd.. Z1% Atlantic Ref (1), « Atlas Powder (2) 15 Auburn Auto. 6'3 Austin Nichols. 3 Aviation Corp D 115 Baldwin Loco (k).. 8% Baldwin Loc pf(k). 3 Baltimore & Ohto. . 91x Baitimore & Ohio pt 100% Bamberger pf (614) 106' Bang & Aroos pf(7) 57 Barnsdall Corp..... 11% Belding-Hem a50c.. 117 Bendix Aviation. ... 34 Best & Co (2). ~ Bethlehem Steel. .. 5% Bethlehem Stl 4*, Bizelow-San Corp.. 95, BIaw-KNOX ....000 28'¢ Blumenthal pf. t1x Boeing Airpiane 49%, Bohn Alum&Br (!). 90 Bon Ami (A)(15) 211, Borden Co (1.60)... 281, Borg Warner (1%). 24', Briggs Mfe (2).... 2314 Briggs & Strat (3). 32 Bristol-Myers 12.40 36'3 Bklyn-Man Tr (3). 90 Bklyn-Man T pf (6) 15 BkIn&Queens pf(2) 4'x Brunswick-Balke 3% Budd (E G) Mfg. 23 Budd (EG) Mfgot. 21; Budd Wheel. . 3% Bulova Watch. 1314 Burr Add M (60¢)... 114 Bush Terminal (k). 11 Bush Tr Bldg pf ct. 1's Butte Copper & Zine 11% Byers (A M). 15 Callahan Zinc. . 361, California Pkg(1%) 2'3 Calumet & Hecla... 713 Campbell-Wyant. .. 95, Canada Dry G A (1) 9% Canadian Pacifie. .. 32 Cannon Mills (2)... 4%, Capital Admin (A). 45% Case (J 1) Co. 36'; Caterpillar Trae 95, Celanese Corp Celotex Co (k)..... 1% Celotex Co vte (k).. 11%¢ Celotex Co pf (k) 2214 Cent Aguire (134) 38% Cerro de Pasco (2). 4% Checker Cab Mfg. .. 374 Ches & Oh'o (2.80). % Chi Gt Westn (k). 1% Chi Mi1 St P & P. 1% Chi M1l St P& P pf. 27 Chi & Northwestrn, 414 Chi & Northwest pf. 45 Chi Pneumatic Tool 113 Cht R 1&P 6% pf (k) 251 Chickasha CO (2). 31 Chrysier Corp (1). 20 City lce & Fuel (2), 87 City lce& Fpt6%. 15 City Stores (k). % City Stores ctfs (k) 1617 Coca-Cola (3)...... 5515 Coca-Cola (A) )(3). 1614 Colgate-P-P (50¢).. 101 Colg-P-P pf (6) 9 Collins & Atkman... 15 Colo Fuel & Lron (k) 10% Colo & South. 3% Col Gas & Elec..... 351 Col G & Ept A (6).. 3413 Colum Plo vte (m1) 67 Columb Carbon (4). 3915 Comel Credit (2)... 5213 Comel Credit(A)(3) 29 Comel Cred pf (1%) 1097 Comel C 18t pI(634) 56% Comel Inv Tr 1234, 17% Comel Solv (t85¢c). 3 Comw & Southn. ... 2914 Comw & Sou pt 13). 27 Congoleum-N(160) 23% Conn Ry & Lt (4%) 7 Consol CIRar....... 41 Consol Film 161 Consol Film pf (§2). 157 Consol Gas N ¥ (1). 72% Consol Gas pf (6).. 615 Consol Ol (h42¢). .. 10815 Consol O11 pf (8) ... 15 Consol Textile. ...« 9% Container Corp (A). % Contl Baking (B) 62% Contl Can (2.40). 7 Contl Dia F (a15c). 287% Contl Insur (11.36). % Contl Motors.. ... 15% Cont O(Del)al23%e. 41% Corn Ex BK&Tr (3). 62 Corn Prod Ref (3).. 149 Corn Prod pf (7). 4% Coty Ine... ... 357 Cream of Wht 133 . 1215 Crosley Radio. . 231, Crown € &8 (1). 431 Crown C&S pf(2.70) 312 Crown-Zellerback. . 1 CubaCo...... . 5% Cuban-Am Sugar... 40% Cuban-Am Sugar pf 41 Cudahy Pkg (2%).. 2 Curtiss Wright. . 6% Curtiss Wright (A). 22% Deere & Co 19 Deere&Co pt 1!!00). 2314 Delaware & Hudson 11 Del Lack & West... 65 Detroit Edison (4). 2615 Diamond M (113%). 344 Dome Mines (2)... 814 Dominion Strs(1.20) 17% Douglas Afreraft. .. 131 Dresser Mfg A h1% 86% Du Pont de N (3.60) 1267% Du Pont deb (6) . 22 Durham Hos pl(fl) ————— 110% Eastman Kod (5). . 141 Eastm'n Kod pf (6). 3% Eitington-Schild... 1915 Electric Auto Lit 107 Elec Auto Litepf 1 6% Elec & Mus Ind.... 1% Elec Pwr & Light. 14 Eng Pub Sve 35 p: 2% Elec Pwr&Lt 36 pf.. 3 Klec Pwr&Lt §7 pf. 39 Elec Stor Bat (234). 1% Engineers Pub Sve. 14% Eng P 8 $5 50 of ww 15% Eng Pub Sve $6 pf. 5 Equit Ofce Bldg. * e e 0D T =110 1D 1O 10 0 O 0 e o ) T T o » "o [R=y » [TCTPIST TSI TR YR TR T Y3 PRI} PSSR ~3 st YL T [ R PRI 90% 129% 18 120 155 3% 201 110% 61 2% 15% 5% 41 129 132 125% 125% SEP PEFEEFF + o+ 5 #® S Ers L FEET LA » - ! 228 & RE2% L+t++ 14+ +4+4+10 |+4;| EF 14+ 4 LRI FOIFEE FE FEEEFES [ 14+ ++ 4 +++++ FE PE ¥ FEE 118% 155 3% 19% 110% 6% 2% 15% 120% +24 155 % 0% + % 110% 6% + W 2U 4+ 15% + % 4% - % bl + % 4 - % 1% 17 18% - % L 41 A High. 14 17% 234 33 437% 2413 130 12 24'3 101 9% 57 5T 125 10 2% 81, 18'¢ % 18% 22 28% 31 2815 127 1T 1214 11 74N 17% 32% 107" 1093 22 307 367 1% 36% 21% 14% 4T 18% 13 45% 100% 8in 45 15% T% K Previous day Month ago . Yeer ago . 1835 1935 1934 1934 1932 1929 1927 Prev. 1915 104 14215 135 125 50.2 53.1 high low . high low . low . high low Stock and Low Dividi nd Rate. T Erle RR.. . 815 Erie R R 15t pf 16! Evans Auto (aT6e). 3 Exchange Buffet. 1 Falrbanki 17 Fairbanks-Mo 18.8 213 36.7 276 Sales— Ada 00 711 Fairbanks-Mrs pf. . zou- 5% Fed Lt & Trac. 2813 Fid Ph F Ins($1.35) 46% First Nat Strs(2%) 204 Food Mach (a25¢) 974 Foster-Wheeler, 4% Foundation Co. 195, Fourtn Nat In h$5e. 35' Franklin Simon pt, xas (1) 8 Gamewell Co. . 515 Gen Am Investo 32% Gen Am Trans(1% 113 Gen Asphalt ...... 3 Gen Baking (60c).. Gen Bronze . Gen Cable pf. . 50 Gen Cigar (17) 's Gen Electric (8 11 Gen Elec spee (§0¢) 324 Gen Foods (1.30)... 69'«Gen Mills (3).. 26'; Gen Motors (1).... 17% Gen Print Ink 1.20. . 935 Gen Print Ink pf(6) "xGen Realty & Util.. 164 Gen Refractories 16! Gen Refrac ctfs. 12 Gillett Saf Kaz (1). 70'; Gillett Saf R pf(5) s 214 Gimbel oros 18'; Gimbel Bros pf.... 234 Glidden Co (11 30). "%« Glidden Co pr pf (7) '3 Gobel (AdOIT) .4 147 Gold Dust (1.20). 712 Goodrich (B F) 15% Goodyear T & R. 2% Gotham Silk Hos 1'; Graham-Paige. 2! Grand Union. .. 191 Granite City St1 (1) 26 Grant (W T)(11%) 9% Great Northern pf.. 9% Great Nor Ure (50¢) 26% Girt West Sug (2.40) 19 & pf. 211, Hackensack W(1%) 31\ Hahn Lept Stores. . 55 Hahn Dpt Stores pf 16 Harb Walker (1) 513 Hat Corp (A) 1% Haves Body. 85 Hazel Atias Gl (5) Hershey C pf (15) 1, Holland Furnace. . 307 Houd-Hersh A (j2). 613 Houdallle-Hersh B. 9'x Houston Oil. . ... 11y Houston Uil (new) 43 Howe Sound (3) 2% Hudson & Manhat 612 Hudson & Man pf.. 6'« Hudson Motor Car 1% Hupp Motors. 9'; [1l1nots Central. ... 247. Indus Ravon (1.68). 46' Inland Steel (1).... 2); Inspiration Copper. 8% Interboro Rp Tr(k) 4'¢ Interlake Iron. . 227w Int Cement (1).... 341 Int Harvester (60c) Int Harvester pf(7) 1% Int Hydro Elec (A). 22% Int Nick Can «60c). Int Nick Can pf (7). 413 Int Paper & Pw pf.. 2115 Int Print Ink (1)... 9813 Int Print Ink pt (6) 42, Int Shoe (2)... . 5% Int Tel & Tel. . 9 Interstate Dept Strs 6 [ntertype Corp. . 301, Island Creek C (2). 49 Jewel Tea (3 3815 Johns-Manvill 117!, Johns-Manv pf (7). 52% Jones&l.augh T%pf. T3 Kaufm'n D S(a4/c) Tx Kelly-Spring T (k). 31, Kelsey-Hayes (B). 14% Kelvinator (t70¢c).. 84 Kendall Copf (6). 13% Kennecott C (60¢e).. 19% Kresge (§8)(1)... 4 Kroger Gr&BEk 1 | e 20+ Laclede Gas pt 26 Lambert Co t3).. 8% Lee Rub&Tire (50¢. 10% Leh Port Cement. .. 1's Lenizh Valley Coal. 6! Lehigh Val Coal pf. 5 Lehigh Vallev R R. 671% Lehman Cp(t265).. 1413 Lehn & Fink (134). 23 Lib-O-Ford G1(1.20) 96 Ligg & Myers (15) . 95': Ligs & Myers B(15) 17t Link Belt (60€).... 241 Liquid Carb (+1%). 31% Loew's Inc (2)..... 105 102 Loew's Inc pf (6%) 1 LoftIne. ar 2.2 10% Louisv G&ElA)l%. 12% Ludlum Steel.. . —_— 715 McCrory Strs A (k) 36% Mclintyre Porcu (2) 90's McKeesport T P (4) 6% McKesson & Rob... 37 McKesson & Rob pf 9% McLellan Stores (k) 21 Mack Truck (1).... 342 Macy (R H)& Co(2) 18% Magma Copper (2 1 Mallison & Co. 41 Marancha Corp. 5% Marine Midld (40c). 6% Marshall Field... 615 Martin Parry... 23% Mathieson Alk(134) 36" May Dept Str (1. IO) 513 Maytag Co. 33 Mayt, 3215 May 3 Mengel Co.. 20% Mengel Co pf 2414 Mesta Mach (1%) 215 Miami Coppe: 914 Mid-Cont Pet 601 MiAl'd Stl 1st Dflfl) 58 Minn Hon R($3% 37 Minn Moline Po'. 1% Mo Pacific (k)...... 1% Mo Pacifis pf (K)... 10% Mohawk C M (h26e) 55 Monsanto € (1) 21% Montgomery Ward. % Mother Lode. ...... 17% Motor Products.. 7 Mullins Mfg. . 13% Munsingwear Inc. .. 4% Murray Corp 30 Myer(FE)&Co 1. 60 12% Nash Motors (1). 14 NashvChat & StL.. 6% Nat Aviation. 24% Nat Biscuit 2). 12% Dairy Prod 1. 1% Nat Dept Store (k). 24% Nat Distillers (50¢) 231 Nat En & Stpg (h1). 125 121% Nut Lead pf (B)46) 4% Nat Pwr & Lt 180¢) % Nat Ry Mex 2d pf at Steel (f1%). 431 Newberry(J J) 113% 109 Newberry (JJ)pf( 4% Newport Industri N Y Central RR Iv Y Chi & St L ot o 122 112 N Y & Harlem (5).. Y N H & Hartford NH& Hartpf. . x Y Ontario & West ! Shipbuilding. . nda Mines (h2) tion. 3 106', 106' 3 l‘.' 81, 174 1% 2% 194 9 42% 120 5213 524 10 1 ™ 15% 85y 158 20 24 » S & 19 10 » N TN CIE T DO G 10 I e D0 IS 30 1 i i 00 O et et B - S - 5 L T - L I T - [ 1 237 23.2 35.0 26.6 216 40.6 242 239 843 1.;' 531 405 120 35.7 317 45.4 416 348 514 349 16.9 157.7 61.8 T+44+ 441+ 444+t % | 4.0085.00; N % 5% Oppenheim Coll 12% Otis Elevator (§0e). 4% Otis Steel. 80 Owens-I1l Gl 1% Pacific Coast 2d.... 13% PacificG& E 11%). 19 Pacific Ltg (2.40).. 70 Pacific Tel & Tei 16) 315 Packard Motor. 2% Par-Publix ctfs (k) 1413 Park & Tilford 2% Park Utah . 15 Pathe Exchange. ... 10'; Pathe Kxchange(A) 8t Patino Mines 6415 Penick & Ford (3).. G4 Penney (J C) (3) 17% Penn RR (1)...... 30 Peoples Drug 5 (1). 17% Peoples Gas Chi. ... 12% Phelps Dodge(h75c) 23 Phila Co $6 pf (3) 1% Phila & Read C & 4 Philip Morrig (1). e 13% Phillips Petrol (1).. 14 Pierce-Arrow (k 12 Pitts Term Coal pf. 1% Porto Ric Am Tob A 1% Pressed Sti Car (k). 9% 42% Proc & Gamb (1% ) 2115 Proc & Gam pf (6).. 20% Pub Serv N J «2 30) 73 Pub Sve NJ pf (6). 854 Pub Serv N J pf (1) 99 Pub Sve E&G pf(5). 41% Pullman 1ne (3).... 4 Radio Corporation. 50 RadioCorppf A 3% 35% Radio Corp pf (B).. 1% Radlo-Keith-Or (k) 5% R R Sec [1l Cent. ... 1615 Rayhestos-Man (1). 31 Reading (2)..... 4 Real Silk Hoslery... 8 Remington-Rand.. 70 Reming-Rand 2d pf 2% Reo Motor Car..., 9 Republic Steel 28% Republic Ste 28 Republic Steel f ct 20% Reynolds Metais1). 5613 Reynolds Tob (3).. » Reynoids Tob B (3) 46 37\ Safeway Stores(i). 110 104% Safeway Strs pf (6) 11274 110 Safeway Strs pf (1) 17% 1m-. St Joseph Ld (40c). 2 St L San Fran (k).. 9 i Savage Arms. ‘s 22 Schenley Distillers, 2 Schuite Retail Strs. 10'; Schulte Re Strs pt. \ Seaboard Afr L (k). 20% Seab'd OflDel)(11) 31 Sears Roeb’k (Tic). % Servel Inc. . 9 Sharon Steel Hoop. 447 Sharp & D pf (3%). 7' Shattuck:F G)zbc.. 513 Shell Unfon Ofi. 8% Silver King C (40c) 6 Simmons Co... .. 1314 Simms Petrol (1) 167 =nmzr Packing.. 11 Socenv-Vac (60c). . 10712 Sol Am Inv pf(5%) 20 Sou Por RicoSug:2) 10% South Cal Ed 134). 125, Southern Pacific. .. 7% Southern Raliway.. 10 Southern Rwy pf... + Sparks-Withington. « Sperry Corp (25¢).. 444 Spiegel-May-Stern. 14% Stand Brands (1) 123 Stand Brands pf (1) 213 Stand Com Tobacco 113 Stand Gas & Elec 1% Stand G & E$4 pf.. 4% Stand GRE $6 pf... 273, Stand Ot of Cal(1). 111 Stand Oil Exp pf(5) 23 Stand Oll of ind (1) 35% Stand O1l N J(11%) 58% Sterling Prod (3.80) 25'3 43"z Pri 3% 29% 2 114 2313 37% 5 61 514 12% 4% 83 3014 Tex: 3% Pac 814 Tex Pac 1 16% 22% T s 2% 14's 213 £ n 1015 67% 62'y 5% Tide Wa 84 Tide Wa 4% Timken- F P EEIEL F 4 3'; Truscon 54 Und-E11 44 14% Un Oil of seFafss 9% P R RS &3 m 14% U S Pipe 424 124% 106'; U S Sme 69 40% 94 % U S Stee: 2715 2 1 14 213, 87's 4% 91 13% Vanadiu 72'; VaEl & 2% | 117 1's Wabash 114 1% 28'; Ward Ba 2's Warner 14'; Warner 22 Warren 30'; Wesson 72 Wesson 397 West Pa 95 West Pa 1; Western 53 Western 2% Western 20"« Western N‘ Westing 32% Westing 15 Wheelin 46'c Wheel 8 67x White Motor White R’k M S 140, 4% Wilson & CoalZizc Wilson & Co pt (§) Woolworth Z.40) 11% Worthington Pumu Worth P’ 13! 68 51 25! 16'3 Texas Corp (1) Gulf Sul 13% Thompson Products 1% Thompson Starrett, 28% Pimken R B (1). Transamerica (25¢) 1% Tri-Contl COrp....e 36 Trico Prod (23) -Fisher (2). 37% Un Bag & Paper (4) Un Carbide&C 1.60 83's Un Pacifie (6). 79': Un Pacific pf (4) % 20% Un Tank Car (1.20). United Afreraft. 415 United Alr L vte 22'5 United Bise (1.60). 46 United Carbon 2. ‘0. 11 United Corp. ... 20% United Corp pf. 2 United Drug. 71% United Fruit (3)... 914 United Gas Imp (1) £7'3 United Gas L pf (5). United Pce D W pf. J S Distributing. .. > USGypsum (1).. ~ U S Ind Alcohol (2). 3 US Realty & Impr. 914 U S Rubber . 24'; U S Rubber 15t pf.. 627 US Sm &R pf(3%). 73% U S Steel pf (2).... 3% United Stores (A).. | 160% 1331 Univ Leat T 2% 14 Univ Plpe & Rad... 19% 12 Univ Pipe & Rad pf. Util Pwr & Lt (A).. 'y Vadsco Sales Corp 34'x Vick Chem (12.40), 24 Va-Car Chemical... Points—Some Specialty Coal & Ofl, Issues Also Sag. Land Trust t Asso Oil. . tAOpf(§) Detroit. BY VICTOR EUBANK, Associated Press Financial Writer. NEW YORK, March 27—Leading shares managed to work higher in to- | day’s stock market in face of scate | tered selling. U. S. Smelting broke 7 points, re- flecting adverse dividend and earnings news, and a few specialties dipped a . | Point or two, but Coca-Cola rose 5 | Allied Chemical about 3 and American | Telephone, American Can, Du Pont ‘and others a point or 50 in the late | trading. i Turnover for the session was only TS T o Steel 9 e RRN HeaR f Cal (1) - about 480,000 shares. Coca-Cola, a high-priced specialty. | became a stock market phenomenon with another jump of more than 4 points to a new high since 1927. East- man Kodak roze a couple of points and farm implements, motors, nublic utilities, and scme of the coppers pushed up iair fractions. A slight early dip in some of the stecls war recovered. Du Pont firmed, after ar early dip, coinadent with a sag ir Atlas Powder. Canada Dry Gingel Ale declined more than a point on § dividend cut and Penney lost as much Rails held about steady. Trading was extremely light Railroad investors were encouragec by a number of the February ret op- erating income reports, with suct roads as New York Central, Baitimore & Ohio and New Haven showing some improvement over the like month of last year, through rigid control of ex. penditures. Some rail circles, how- ever, thought the cariers were neglect- ing maintenance charges to a degret which could not long be continued aa " s moketeEmnanmms nBaaS o wBen & F (50¢), » 1t& R (h9). [ IS $). oo S s m Corp. Pwr pf (6). S T . = Chicago Grain Walgreen pf (674 ). WalworthCo ... ... By the Associated Press CHICAGO, March 27—Caught fir the vortex of dust sterms raging from Canada to Texas, wheat soared today to the highest price level witnessed ir months, Drought areas of the Winter wheal belt Southwest were reported as being severely punished, and messages from the Dakotas and Minnesota said clo of dust were blowing. Augmenting the strength of Chicago wheat prices was word that all deliveries of wheat a Buenos Aires were at new top-price levels for the season. Wheat closed nervous, 113a1% above yesterday's finish, May, 95'ga'y: corn 3,4a135 up, May, 79'4: oats. 3sal ad- vanced, and provisions showing 10 tc 15 cents ga king pf (2) Bros Pic... Bros Pic pt Fdy&P (2). O&St1%. V&S pt (4) Elec pf (7) Pwpf (6). Dairy pf B Maryland. Pacific pf. Union h'se AB Be n'se Elec ., g Steel. ... tl pt (j50c) Low ump pf A '; Wright Aero..... 4 Wrigley 21 18 2l 13 Young S i Youngstown S&1 .. 3 Zonite Products. 2 (Wir)t3i D& WY 19 140 + 4 + N n 137 l.‘lt 3 34 - of ltflekl on !l. New Yo!l llchll‘l 100 BM Divicend rates as eiven i the cash payments based on the Ia declarations 3 Unit of trading 9% 1n stock b Paid stock e Payabl stock e Plus 4% 1n dividends k& Compan: ganized m Plus 5% m nocl in cash or stock x lpammn 180,000 340.000 bove table are tbe annusi st Tusrterly or half-yeariy |t | 5 IPius | ..m 000 less than 100 shares. tPartly extra. last year—no reguia: rate. b Fayable in | 1Plus $1 in special preferred #l0Ck & Pale this year ) Accumuisted ies reported In receivership or being reor- in stock pPlus 3% in stock D Plus 2% (‘hluln Cash Market. | . Gold Currencies Display Weakness, Dolldr Also Dips By the Assoclated Press LONDON, March 27.—Gold (‘ur< rencies were inclined to be weaker today on the foreign exchange market. | The United States dollar dropped with the gnld currencies, losing 11-16 cent to ‘he pound and closing at 479 7-16 to the pound. as compared with yesterdey's close of 4.78%. The opening was at 4.781;. The belga recovered irom yester- ! day's weakness and closed at 22.38 to the pound, as compared to yester- day's close of 23.25. The French franc closed at 72.80, as compared with yesterday's close of 72.68. PARIS, March 27 (#) —Three per cent rentes, 76 francs, 40 centimes; 41, per cent rentes, 87.55. Exchange on London, 72.80. dollar was quoted at 15.17'5. BALTIMORE LIVE STOCK. BALTIMORE, Md., March 27.— Cattle—Receipts, 125; market steady; slaughter steers, good, 8.75a10.50: me- dium, 7.50a8.25; common, 6.60a7.75. Heifers—Good, 17.50a8.25; medium, 6.25a7.25; common, 5.00a6.25; low cut- ter and cutter, 4.25a5.00. Cows—Choice, 5.25a6.25; good, 4.50a 5.50; common and medium, 3.25a4.25; low cutter and cutter, 2.50a3.25. Bulls—Good (beef), 6.00a7.00; com- mon and medium, 5.00a5.75; cutter, 4.00a4.75. Calves—Receipts, 60; market steady; vealers, good and choice, 8.50a9.50; medium, 6.50a8.00; cull and common, 5.00a6.00. Hogs—Receipts, 100; market higher; truck hogs 25 under quotations; 140- 160 pounds, good and choice, 8.8529.30; 160-180 pounds, good and choice, 9.05a 9.70; 180-200 pounds, good and choice, 9.40a9.70; 200-220 pounds, good and choice, 9.10a9.45; 220-250 pounds, good and choice, 8.85a9.40; 250-290 pounds, good and choice, 8.60a9.03; 290-350 pounds, good and choice, 8.30a 8.80; packing sows, 275-425 pounds, good, 7.45a8.30; 275-550 pounds, me- dium, 6.20a7.25; pigs, 100-130 pounds, good and choice, 7.15a8.80. Sheep and lambs—Receipts, 25; market steady; lambs, 90 pounds down, good and choice, 8.25a9.25; common and medium, 6.90a7.75; cull, 5.00a6.00; ewes, 90-120 pounds, good and choice, 120-150 pounds, good and choice, 3.50a4.50; all weights, mon and medium, 2.00a3.00. ZINC OUTPUT DOWN. NEW YORK, March 27 (#).—World zinc production in February was 110,611 short tons, against 120,258 in January and 97,168 in February, 1934, reports the American Bureau of Metal Statistics. United States production in February totaled 33,072 tons, against 35,614 in January. The SAVANNAH NAVAL STORES. shipments, 50860 nd M. | Federal Home Mortgage Co.) will re- |ceive 3 per cent of the principal cdom- | NATIONAL SURETY - PLANIS OPERATIVE Reorganization Will Affect Realty Issues Guaran- teed by Firm. Special Dispatch to The Star. NEW YORK, March 27.—The ap- proved plan of reorganization for the real estate securities guaranteed by National Surety Co. has been declared | operative with respect to practically all series of securities of 19 of the | companies affected by the plan, and the new company, National Bend- holders Corp., has approved the first cash distributions, ranging from 3 per cent to 85 per cent of principal amount of certain bonds, to be made { under the plan, it has been announced by Harvey D. Gibson, C. Prevost Boyce and John W. Hannon, reorganization managers. Cash distributions will be made to holders of bonds of four companies where the collateral has been taken over or is in process of being taken over by the new company, as foliows: Holders of all series of bonds of Federal Home Investing Co. (formerly amount, or $30 per $1,000 bond; hold- ers of series B bonds of Southern Se- curities Corp. 10 per cent, or $100, pe: $1,000 bond; holders of series B and C bonds of Guaranty Title & Trust Cor- | poration, 10 per cent, or $100, per | $1,000 bond, and holders of series B bonds of Empire Bond & Mortgage | Corp. 85 per cent, or $850, per $1,000 bond. Payments will be made at the earliest practical moment after the new company has completed the physical acquisition of the coilateral and the issuance of partici- ation certificates. which it is estimated will require approximately 60 days. it is Stated. In the remaining series. Wherever cash on hand permits it. distributions will also be made. and as the liquidation of the collateral pmxrt es. further cash distributions. _consistent with the best fnterest of the bondholders. will ‘be made to holders of participation certificates The plan has now been declared operative with respect to the following classes or series of securities: Amortization Mortgage Co Central Funding Corp. Bond & Mortgage Corp. series A B. and Fed e S Hvesiing Co Seried c. lin Mortg: Co, series B. C. D and l bonds, Guaranty Title & Trust Corp. serles B and C certificates, lnsullmem Mofl- ge Co. series A D bonds. In- yestment Securities Co o -ruu series A. C. D and E bonds._Investors’ Mortgage o erles A B.C and D bonas. Morteage Bond & Trist Co. series E and £ bonds, Meline Mortgage Co ser B. C and D Bonds. Mortkage Co of Alabama series B bonds. Morteage Guarantee Co of America -A. A-D. AE. AF. series A. Aot i Sonar, Mortiake_ Security Corp. of ‘America series AA. B. BB. C. D, E. Mich. Mi e P ana XY en” certincates and serl d (unguaranteed). bonds. series A; National Mortgage Co series B bonds. National Reserve Corpy. Pidelity Real Estate Trust bonds. series CA. CB and CC: Southern Securities ; B and C: Title & Invest- B ana acries A and B. and Union l‘o!tl 33 ll\v!nlm!nl Co. series AN, F. G. H and I bonds. FREIGHT LOADINGS. NEW YORK, March 27 (P .— Railro>ds reporting. reveriue {reight car loadings for the week ended March 23 incluced: Week anmul Lut March 23. week BT S b bk K [} lgl | Naumkeag Steam Cotton, | Chesapeake " & ‘Boto: | Enamel Products . | enita and B and Collateral Trust gold | G1¢ Wheat, No. 2 hard, 1.03 :nm;. osf;.: o No. 2 yellow, 84!, | No. 3 yellow, 82a82 H New York Cotton | | i 301, No 3 white 4850450, 5 )bu(kuhem No. 1. 1.12; soy beans. No {2 vellow, 1.04: barley. 68a1.20: tim- othy seed, 16.80a18.00 cwt.; clover seed, 15.50a19.25 cwt. By the Associated Press. NEW YORK, March 27.—Cotton futures rebounded in the late trading today, after a dip in the earlier deal- ings. | Early losses of 10 to 14 points were recovered, and old crop months rose on 9 to 11 points over the previous close, May with new crop deliveries getting up :,r ober 5 to 6. Exchange. 4 MONEY MARKET. NEW money ste Liverpool Grain Prices. IVERPOOL. _March ires” closed firm. Liverpool Quotations. | LIVERPOOL. March 27 iP.—Cotton. 1.000 bales. including 100 American. ~Spot increased in demand, prices 1 point louer ®ood middiing %000 ordinary Putures closed El!ld\ 618 July, 6.1 5.90: January. DIVIDENDS ANNOUNCED NEW YORK. March 7. —Dividends de- gared (prepared by {he Blandard Statistics need Heerve Hank' 3% “per TEE May, December. | - . . NEW YORK BAR SILVER. NEW YORK. March 27 (#).—Bar silver barely steady, !4 lower at 61. Increased. Stockof Pa Pe- Compan Rate, riod. record. able. 4- Lone Co We Will Make First Trust Construction Loans on Residential Properties Prompt Action on Apolication Real Estate Mortgsge. and Guaranty Corporation 1610 K St. NW Canada Dry Ging Ale.10c . Accumulated. Hat Corp of Vichéx Tool # Pu\tll Resular. Allied Chemical Amenun Bever D American " Light Traction p{ Atlas Pomder . Briges ENTERPRISE SERIAL BUILDING ASSOCIATION 7th St. & Indiana Ave. N.W. LOANS On Improved District of Columbia Real Estate Security 73rd series of stock now open for subscription mac | Tel * (Balti- ale” Logk 2 Hat, Corp of Am Lane Bryant pf MacBeth-Evans Gla: Metal Packsge Norfolk & Wes adj pf El $5 pf 3 Plymoutk Cordage. .. | Plymouth Cordage emplove stock Rike-] Kumler & ike-Kumle; Slattery (E T) Co S Vanadium-Allovs Steel | Amesican’ " Shivbldy.. " Brivgs Manufacturing 3old Dust Corp..... INSURANCE STOCKS NEW YORK. March 27 Afl’\ —New York Security Dealers’ Associatio; Aetna aCs (2 Aetna Fire (1 Aetna Life (.t Agricutural Am Ins Newark (1 Am E-insur (212) Am Surety (1) Automobile (1} 0 SAVINGS! PRUDENTIAL BU lLDlNG ASSOCIATI and Nat'l Busk nfi 1531 €S N WL Dis. 6270 2) 0) ) First Trust Notes All Issues C. B. Pennebaker Company, Inc. d Southern Blds. ) i Washington, D. C. N¥ Fire 1y Natienal 2335 National 2313 Gient Kuree (15" Halifax (.50} Hanover (1.60) “Dealers in Unlisted Securities, Specializing in Real Estate Mortgage Bonds” ) ingtel m (LT o diers (161 U S Fire (14020 estet -]y.(;lr (1.102) & Belite o Daid s far this year.