Evening Star Newspaper, April 2, 1935, Page 14

FINANCIAL, DIVIDEND RAISED * BY GARPEL CORP. Quarterly Payment Puis Stock on Yearly Basis of $1.60 a Share. BY EDWARD C. STONE. Directors of the Carpel Corp. yes- terday declared a quarterly dividend of 40 cents per share, the increased oisbursement being payable April 15 to stockholders of record April 8. This declaration places the stock on an annual basis of $1.60 a share as compared with $1 paid during 1934. Robert Philipson & Co., auditors for the corporation, report that net earn- ings for the first two months of the present year were in excess of 80 cents per share. ‘The Carpel Corp. is a food distrib- uting concern which does an exten- sive business in Washington and sev- eral other cities. The stock is widely held here and is listed on the Wash- ington Stock Exchange. The last bid | en the exchange was $16 per share. When it was first placed on the mar- ket it sold around $22 a share. It has been on the exchange several years. Earnings Show Sharp Rise, Charles Delmar, president of the Lincoln Service Corp., reported to stockholders today that business in the first quarter of 1935 was 56.3 per cent better than in the first quarter of 1934 Collections were 96.6 per cent of par, the official pointing with pride to the apparent care used in the lending of money. The volume of business for March, the report adds, was the second larg- est in the history of the corporation, while two individual companies, Ta- koma Industrial Bankers, Inc., and Dealers Credit. Inc, had the hrgest month in their history. Operation of two other sub;u‘lml’yK eompanies will start during April Mr. Delmar announces, one in Virginia | and one 'n Maryland. Opening of | these two offices will give the cor- poration six uperating units. Housing Loans on Increase. There has been a slight pick-up in | the number of uousing loans requested ' by Washingtonians since the District | Bankers' Association started its pres- ent campaign calling attention to mo“ opportunities for home renovizing un- der the Federil housing act. | Since these inans were first offered | the public 'ast Fall. there have been‘ 1,061 granted by the local banks for | an aggregate amount of more than | $600,000. This is considered as a | tavorable ~ecord since so many people | are hesitant about making loans for any purpose while they still owe money on debts contracted befoce the Wall Street smash ‘There has been a reviral of interest In renovizing loans since the bankers’ association bezan running special ad- | vertisements about three weeks ago. The high2st ni'nber of applications in one day since that time was 12 re- quests for .oans of $2,000 or less President F. P. H. Siddons of the District Bankers' Association believes that considerably more interest will be shown as syon as the weather gets a bit more settled and alterations and | repairs can he carried out easily and at less expense. He considers iae up- turn in loan inquiries and applica- tions as a hopeful sign. Business Decline Slight. While business tapered off some- what between the first of February and the middle of March. the decline was very slight, the monthly review of the American Bankers' Association says. Such a decline was not unexpected, THE EVENING STAR, WASHINGTON, D. C, TUESDAY, APRIL 2, 1935. FINANCIAL, TRANSACTIONS ON THE NEW YORK STOCK EXCHANGESI[]BKSUNS[HI_[I] By private wire direct to The Star. Prev. High. 13 T% 33% (308 83y 115% 1% 20% 319 1% 141 1271 17% 57 57% 21% 611 123 20% 123 6013 33% 10% 9015 1035 Low. Stock and Dividend Rate. Add 110 Abr & Strauss p£(7) 4% Adams Exp: . 28% Adams Millls (2) 4% Advance Rumley... 6% Affiliated Prod (60¢) 104% Alr Reduction (3).. 1 Air-Way Elec Appl. 15% Alaska Jun (11.20). 2 Albany Wrap Paper % Alleg Corp (k) Alleg Corp pr pf. 125 Allied Chem (6) . 123% Allied Chem pf (7). 12 Allis-Chalmers..... 4813 Amerada Corp (2).. 45 Am Ag Chem Del(2) 131 Am Bank Note..... 43 Am Bank N pf (3).. 110 AmCan (15).... 10 Am Car & Foundry. 8 Am Chain.. 38 Am Chain pf. 22% Am Comcl Alcohol 6% Am Crystal Sugar. . 57% Am Cr: 1 Sug pf. 1% Am Ensaustic...... 2% Am European Sec. .. 2 Am & Foreign Pwr. 12 Am & For Pw pf (6) 14 Am & For Pw pf (7) 37 Am & For Pw 2d pf. 2!, Am Hide & Leather. 17 Am Hide & Leath pf 30% Am Home P (2.40).. 313 Am Ice Co 32 Am Locomotive pf.. 18% Am Mch & Fv (80c) 5 Am Mach & Metals. 13'; Am Metals. . 1'; Am Power & Light. 8% Am P&L $5 pf (1%) 10's Am P&L $6 pf (1%) 10'; Am Radfator....... 15% Am Rolling Mills. .. 20 Am Shipbldg (2 317 Am Smelt & Re! 12 Am Steel Foundry, 33% Am Stores (12%5)..: 55': Am Sug (2)... 126': Am Sugar pf (1)..e1 18'; Am Sum Tob (1) 987, Am Tel & Tel (9) Am Tobacco (5). 4% Am Tobacco B (5).. 9 Am Type Fdrs pf (k) 71 Am Water Wks (1) 48 Am Wat W 1st (6) 35!2 Am Woolen pf. 8 Anaconda Coppe: 14 Anchor Cap (60c) 36 Archer-Dan M t1%. 81: 11814 Archer-Dan pf (7).. 98 Armour Del pf (7).. 37« Armour of [1linois. . 60% Armour 111 pr pt (6) 4 Arnold Constable 268 15 19 10414 7'; Asso Dry Good!.... 35% Atch To&S F (h2).. « Atch To&S F pf (5). » Atlantic Coast Line 3 Atl Gulf & W Ind. 21% Atlantic Ref (1). 33 Atlas Powder (2) 106% Atlas Powder pt ) lOOl 4 Atlas Tack. 15 Auburn Auto. 6! Austin Nichols. 3 Aviation Corp Del. 1'; Baldwin Loco (K).. 81; Baldwin Loc pf(k). Bayuk Cigar (b¢).. 15% Beatrice Cre(a50c).. 100; Beatrice Cr pf (7).. 72 Beech-Nut P (13%) 11% Belding-Hem a50c.. 117 Bendix Aviation.... 1512 Beneficial Loan 1%. 34 Best&Co (2) 21% Bethlehem St 553% Bethlehem Stl pf.. 14% Bigelow-San Corp. 9% Blaw-Knox. . . 614 Boeing Airplan 49% Bohn Alumé&Br (3). 21 Borden Co (1.60)... 2814 Borg Warner (1%). « 241; Briggs Mfg (2)..... 231x Briggs & Strat (3).. 31Y% Bristol-Myers 12.40. 3612 Bklyn-Man Tr (3).. 90 Bklyn-Man T pf (6) 43 Bklyn Union Gas(5) 53 Brown Shoe (3) 4% Bucyrus Erie. gh. Low. Close. e, 113% 113% +1% %, 111% 111% + o %~ 16% 16% — 2% % 6% 132% 4.125% e Pz LI+ 4+ S L4+1++ 9 28 e - > mEraRw s e E 0N AW s 11 44 16% 111 i Brar b AEZE A RENE 2N 1+ Prev. ;936 High. 187 631 135 11 123, 17% 5712 STOCK AVERAGES Complled by the Associated Press. 30 v Indust. Rails. Net change Today, 1 p.m. Previous day . Month ago Year ago . 1935 1935 1934 1934 1932 1929 1927 +.1 51.3 51.2 51.5 574 56.6 495 61.4 Stock and Low _ Dividend Rate 19%; Electric Auto Lit 3% Electric Boat. . 1% Elec Pwr & Light.. 21 Elec Pwr&Lt $6 nf.. 3 Elec Pwr&Lt $7 pf. 39 Elec Stor Bat (2%). 52% Endicott-John (3).. 1'» Engineers Pub Sve.. 14): Eng P 8 $5.50 of ww 151 Eng Pub Svc $6 pf. 5 Equit Office Bldg... 8% Erie RR 1st pt.. 104 Eureka Vac C1(80c). 16}z Evans Auto (a75c). 1 Fairbanks Co. 4 Fairbanks Co pf. 17 Fairbanks-Mors 7114 Fairbanks-Mrs 16' Fed'd D Steres " . 2815 Fid Ph F Ins(11.36) 131 Firestone (40c). ... 85 Firestone pf A (6).. 46 First Nat Strs(2%) 20% Food Mach (1)...44 97 Foster-Wheeler. ... 19%, Fourth Nat In h85e. 6% Fox Film (A).... :l'« Franklin Simon pf. . 4 Freeport-Texas (1) «. Fuller Co 2d p! —— e 7 GamewellCo....... 5'2 Gen Am Investors.. 324, Gen Am Trans(1%). 11% Gen Asphalt....... Tt Gen Baking (60c) 50 Gen Cigar (17). 127'; Gen Cigar pf (7). 20'3 Gen Electric (60e). 11 Gen Elec spee (§ 35'; 32Y% Gen Foods (1.30 65% 597 Gen Mills (3). 34% 261; Gen Motors (1) ll fl: 107': Gen Motors pf (5). 10 Gen Outdoors AdvA 1'x Gen Public Service. 15% Gen Ry Signal (1).. » Gen Realty & Util.. 161 Gen Refrac ctfs. 15 Gen Stl Casting pf. . 2 Gillett Saf Raz (1)« 70% Gillett Saf R pf(5)+ 2is Gimbel oros . 23% Glidden Co (+1.30) . 9 108‘- 1047 Glidden Co pr pf (4} 2'3 Gobel (AdOIf)...uee 1‘7- Gold Dust (1.20).eas 7'z Goodrich (B F) 15% Goodyear T& R.... Goodyear $7 pf (4). Gotham Silk Hose. . 1'; Graham-Paige 514 Granby Consol 2% Grand Union. 26 Grant (W T)( . 98, Great Northern pf.. 9% Great Nor Ore (50c) 26% Grt West Sug (2.40) 30 Hack WpfA (1%). 34 Hahn Dept Stores. . 55 Hahn Dpt Stores pf 1% Hayes Body 85 Hazel Atlas 11 Hercules Mot lahr) 5% Holland Furnace. 6% Holland & Son l50l:) 6'; Houdaille-Hersh B. 11z Houston Oi] (new) ., 43 Howe Sound (3)...3 6% Hudson Motor Car.. 3% 7» Hupp Motors. \ 933 I11inofs Central 40 11l Cent Isd lines(4) 15 Unch. 19.6 19.6 200 384 276 “Sales— Add 00. Hien. L 15 Util. Skxh +.3 241 244 224 35.3 26.6 21.6 40.6 242 23.9 184.3 618 % Z‘n 615 +3 36.7 36.6 36.3 47.1 41.6 348 514 349 16.9 157.1 618 Net. Low. Olose. Chge. "0‘/4 zw. 6l 63 41 59 2 17 2:30 p.m. Pm 1935 High. Low. 1T% Stock and Dividend Rate. 127 Nat Dairy Prod 130 28 134 Nat Dept Store (k 17% Nat Dep St 1st vf(k) 150- 24% Nat Distillers (2).. 69 4% Nat Pwr & Lt (30c) 19 40% Nat Steel (11%) 5 4313 Newberry(J J) 1. 113% 109 Newberry (J1)pf( 7) Y Dock pf.. Y& Harlem (5).. ¥ s N Y Shipbuilding. 30% Noranda Mines (h2) 7% Norfolk South’n (k) 2 North Am Aviation 9 North Am Co (1). 35% North Am Co pf (3). 57 North Am E4 pf (6) 13% Northern Pacific. .. 357 Northwest Tel (3). 0 NorwalkT&R pf 3% 10% 9% Ohio Ofl (h45e) . » Oliver Farm EHIHD: .K’. Omnibus Corp. . 5 Oppenheim Colllna.. 15% 11% Otis Elevator (60c). 112 106 Otis Elev pf (6) . 74 4% Otis Steel. 46 223, Otis Steel p! 90% 80 O 11 Gl % Pacific Coast 1st 13% Pacific G & E (1%). 19 Pacific Ltg (2.40).. 70 Pacific Tel & Tel (6) 111'; Pacific T & T pf (6) 313 Packard Motor.. ... 214 Par-Publix ctfs (k) 2% Park Utah.. '3 Pathe Exch: .o 10'; Pathe Exchange(A) 814 Patino Mines......, 1% Peerless Motor . ' 64'; Penick & Ford (3) 61% Penney (J C) (3)... 3 Penn Dixie Cement. 17% Penn RR (1)... 17% Peoples Gas Chi T8 Petrol Corp (h50c). 12% Phelps Dodge(h75¢) 23 PhilaCo $6 pf (3)... 1% Phila & Read C & 35% Philip Morris (1). 13% Phillips Petrol (1).. % Pierce-Arrow (K)... 4 Pierce Oil ) % Plerce Petroleum. 5'; Pitts Screw & Bol 6!z Plymouth Oil (1). 814 Postal Tel & Ca pf.. 63, Pressed Stl C pt (k) 42% Proc & Gamb (1%4). 2115 Proc & Gam pt (§).. 20% Pub Serv N J (2.30) 62% Pub Serv N J pt (5) 73 Pub Sve NJ pf (6). Pub Sve E&G pf(5). 41% Pullman Inc [£) PP 57» Pure Ofl. 49% Pure O11 pf 8% Purity Bakeries (l) 8 17 23% 80 12014 57 1074 4 Radio Corporation,, 35« Radio Corp pf (B).. 1'% Radio-Keith-Or (k) 297 Reading (2)... 22 Real Silk Hos pt 2% Reo Motor Car 9 Republic Steel 28% Republic Steel pf. .. : 20% Reynolds Metalsl). 43'« Reynolds Tob B (3) Roan Antelope Ltd. Roy’l D h1.35 3-10c. 46 3T Safeway Stores(3). 110 104% Safeway Strs pf (6) 11274110 Safeway Strs pf (7) 17% 10% St Joseph Ld (40c). 2 1 StLSanFran (k).. 9% 6 Savage Arms... 2813 22 Schenley Dlsullers. 20% 10!; Schulte Re Strs pf. 60 55 Scott Paper (1.70).. A * Seaboard Air L (k). 267 20% Seab’d Ofl(Del)(t1) 3 31 Sears Roeb’k (7ic). 2 1'; Second Nat Invest.. 41 Sec Nat Inv pf (32). 7% Servel Inc.... 3% Sharp & Dohme. ..., Tl Shattuck(F G)25e 5'3 Shell Union Ofl. 63'< Shell Union Oil p! 83, Silver King C (40¢). 6 Simmons Co.... Sales— Add 00. lllh Mot | Prey. u:;& Close. Chse. | High, l!fi 1% 9% 5 3 121 2% 5% 21% 36% 1 4% 17% 10 881 Th 363 5% 8% 3% 674 12% 59% 22 1 42% lZl‘m Stock and Dividend Rate. Add 00. High. 2 33% 1935 Low. 0% 33% Spicer Mg pf (3).. 180- 43% Splegel-May-Stern. 14% Stand Brands (1)... 21 Stand Com Tobacco 1% Stand Gas & Elec... 1% Stand G& E $4 f. .. 4% Stand G&E $6 pf... 6 StandG&ESTpf.., 27% Stand Ofl of Cal(1). 23 Stand Oil of Ind (1) 28% Stand,Oil of Kan(2) 35% Stand Ofl N J(11%) 58% Sterling Prod (3.80) 1% Sterling Secur (A) 6% Stewart-Warner, 215 Stone & Webst 2% Studebaker ( 115% Sun Oil pf (6). 1% Superior Oil 4 Tennessee Corp. 16% Texas Corp (1).. 29 Texas Gulf Sul (2) . 8% Tex Pac Land Trust 215 Thermoid Co.... 13% Thompson Products 7% Tide Wat Asso Oil.. ] 7% Trans & West'n Air. 17 Tri-Contl Corp..... 34 Un Bag & Paper (4). 44 UnCarbide&C1.60.. 14% Un Ofl of Cal (1) 82% Un Pacific (6). 97 United Alrcraft... 4% United Alr L vte. .o 7 United Am Bosch 217% United Bisc (1.60). 4113 United Bisc pf (7). 46 United Carbon 2. 40. 1% United Corp. 20% United Corp pf. 9% Cnited Drug..... 1% United Fruit (3)... 9% United Gas Imp (1) 2% United PceDW.... 3% 40'; U S Gypsum (1)... 143 U SGypsum pf (7). 35% U S Ind Aleohol (2). 3% U S Leather... 7% U S Leather (A). 53 U S Leather pr pf... 14% US Pipe & F (50¢). 19% U S P&F 1st pf 1.20. 3 U S Realty & Impr.. 100% US S 627 U S Sm &R pf(3%) ‘ 2713 U S Steel...... 73% U S Steel pf (2) P SEFEES ¥ 3% United Stores (A). 12 United Stores pf. 1% Univ Pipe & Rad 1 UtilPwr& Lt (A 13% Vanadium Corp.... 114 Van Raalte. . 342 Vick Chem (12.40). 18 Va-Car Chem 6% pf 72}3 Va El & Pwr pf (6). 63'2 Vulcan Detin (a4).. 414 Waldort Sys (h20c) 27% Walgreen Co (m1). 114 Walgreen pf (6%). 11 Walworth Co . Ward Baking pf (2) 2! Warner Bros Pic... 14!; Warner Bros Pic pt 5 ner-Quinlan. .. 212 Warren Bros. . 77 Warren Bros cv pf.. 30% Wesson O & S 1% . 72 Wesson O&S pf (4). 34 WestPaElecA (7). 36 West Pa Elec pt (6) 39% West Pa Elec pt (7) 95 West Pa Pw pf (6). % 1045 West Pa Pwr pf (7) 12 Western Dairy pf B 513 Western Maryland. 2% Western Pacific pf. 20% Western Union.... 8 Westingh'se AB 50c 3285 Westingh'se Elec. . 16% Westvaco Chl (40¢) 67 White Motor 1% White Sewing Mch. 1 Wilcox Oil & Gas 4% Wilson & Coa12 61 19% 35% 1814 & 1% 1% 4 58 53 283 2% Woolworth (2.40) 253 Worth Pumppf A.. 2% Yellow Truck. 53% 287 Y|'|I|l1|l| 4 " BY SAG IN METALS Late Selling Weakens List After Steady to Firm Tone of Forenoon, BY VICTOR EUBANK, Associated Press Financial Writer, NEW YORK, April 2.—After the ralis and utilities had displayed & steady to firm tone in the early Stock Market dealings today, late selling in the metals tended to unsettle the list. United States Smelting suffered a decline of some 5 points. Cerro de Pasco and McIntyre Porcupine yielded about a point each. Wilson & Co. preferred dropped 5, while Armour preferred and Case sagged nearly 2 each. American Telephone, Consoli- dated Gas and North American gave up their gains, and Santa Fe, New York Central and Union Pacific re- placed small advances with similar losses. Many issues were virtually un- changed. The closing tone was easy. The trading volume picked up for a brief space in the last hour. but tended to dwindle near the finish. Transfers approximated 550,000 shares, Among the better shares, up frac- tionally to around a point in quiet dealings, were Santa Fe, Union Pa- ficic, New York Central, Western Union, Commonwealth & Southern preferred, American Water Works. American Telephone, Consolidated Gas, United States Steel, Du Pont, Chrysler, General Motors, Standard Oil of California, Howe Sound, Lig- gett & Myers “B,” American Tobaccc “B” and Liquid Carbonic. There ware a few soft spots in the | otherwise brighter market. Wilson & Co. common lost a point and the preferred dropped 5. Armour & Co. preferred also yielded more than a point. J. C. Penney showed a 2-point recession. The rails apparently continued to reflect the better feeling engendered by the recent granting of rate in- creases. Some friends were attracted to the utilities by indications that a number of the more important corporations may be planning to emulate Southern California Edison and effect large sav-~ ings by refunding outstanding bonded indebtedness at much lower rates. At | the same time new financing, instead | of refunding operations, was being awaited by banking circles as a more substantial recovery barometer. | By the Associated Press CHICAGO, April 2—With private predictions as to the size of the domestic Winter wheat crop averaging {higher than many traders had ex- pected, wheat futures prices declined fractionally today. Corn developed independent strength and held about steady, with farm reserves of corn estimated at only a little more than half of the reserve of a vear ago. ‘Wheat closed '5-3g cent lower com- pared with vesterday's finish, May 941, and corn was !, off to !3 up, May 8075-81. Oats finished 3; lower to !¢ higher and rye was !4 off. Pro= | visions were lower. MIVHEAT— Open. Hi . O July 2 September 28 — 8% Bucyrus Er 33 24% Indus Rayon (1.68). 131 Simms Petrol (1)... 13 Youngstown S&T. 14 14 r= the magazine Banking adds, because of the sensational rise between No- vember and mid-January, which car- ried the index from 48 to 63, an advance of over 30 per cent. Two distinctly encouraging develop- ments, particularly to banking, have been noted during the last month, the review states. One of these was an upturn in commercial loans, which carried without interruption through the four weeks from February 6 to March 6. The other was the appear- ance in the capital market of several large companies with big pieces of financing. The magazine continues: “The decline in the weekly figures of commercial loans by all reporting member banks terminated, for the time being at least, with the first week in February at $3,136,000,000. Be- tween then and the end of the first week of March they had risen by the substantial amount of $68.000,000. The chief changes were in New York, Boston and Chicago, whose portfolios increased $40,000,000, SlB 000,000 and $13,000,000, respectively.” . C. & P. Advances J. C. White. John C. White, for six years con= struction superintendent of the Chesa~ peake & Potomac Telephone Co., has been appointed general plant man- ager of the company. In addition to his official position, he is president of the Alexander Graham Bell Chap- ter of the Telephone Pioneers of America and is past president of the Telephone Society of Washington. A native of New England, he has lived in Washington since he was 7 years old, having been in the employ of the telephone company since 1906. Mr. White holds two degrees from National University Law School and is a Mason. Banker to Study New Deal. An intensive examination of Presi- dent Roosevelt’s reconstruction pro- gram and the results it has achieved will be made by Dr. Henryk Gruber, president of Poland’s largest banking lnsmlmnn—the State Postal Savings Bank—and head of the Polish Insti- tute for Collaboration With Foreign Countries, who arrived in New York the leading financial authorities in Poland, Dr. Gruber will make a special study of security and banking legislation. After' two weeks in New York he will make a swing around the country, visiting Washington, Philadelphia, Pittsburgh, Chicago and other important centers. In addition to the presidency of the Postal Savings Bank, whose deposits last year reached an all-time high and whose turnover was more than five times the amount of currency in Poland, Dr. Gruber holds several other important positions in the Re- public of Poland. Today’s Trading on Exchange. Capital Tracticns 5s, the bonds which hit a new high mark on the Washington Stock Exchange yester- day, again sold at 99 today. There was one $500 sale recorded. The bonds closed with 99 bid and par asked. Washington Gas 6s, Series B, opened business on the exchange to- dly with a $500 sale at 103%, the re- cent prevailing price, In the stock division Potomac Electric Power 6 pn- cent preferred was strong, opening at 111% and closing with a very sale at 111%. The Baltimore & Ohio Railroad announces an order for 118 more air~ conditioned cars, which will give the road 401 in all, including 31 now in use on the Chicago & Alton, a sub- sidiary. The, order will make prac= tically all the through trains air- equipped. 3% Budd (EG) Mfg... 23 Budd (EG) Mfgpf 13 Budd Wheel....... 133 Burr Add M (60¢). .. 10 Bush Tr Bldg pf ct. % Butterick (k) . 11% Byers (A M). 3615 California Pkg(1%) 2% Calumet & Hecla. .. 773 Campbell-Wyant. 9% Canadian Pacific. .. 3215 Cap Admin pf A (3). 45% Case (J I) Co.. 84 Case (J I)Dfld).... 36; Caterpillar Trac(1). 19% Celanese Corp...... 1% Celotex Co vte (k) 22% Cent Aguire (1%).« 38% Cerro de Pasco (2)., 3% Certain-teed Prod. . 37% Ches & Ohio (2. 36 Chesap Corp (3 % Chi Gt Westn (k). . % Chi MiIStP&P.... % Chi Mil St P & P pf. 2% Chi & Northwestrn. 4'5x Chi & Northwest pf. 4% Chi Pneumatic Tool 20 Chi Pneu Tool pf... 1% Chi R 1&P 7% pf (k). 31 Chrysler Corp 20 City Ice & Fuel (2). 87 City Ice&F pf 63%.. % City Stores (K)..... % City Stores ctfs (k) 202% 1617 Coca-Cola (3)...... 57% 56% Coca-Cola (A) )(3). 18% 16% Colgate-P-P (50c).. 105'% 101 Colg-P-Ppf (6).... 15% 9 Collins & Atkman. .. 5% % Colo Fuel & Iron(k) 15 7 Colo & Sou 1st pf. 7% 3% Col Gas & Elec 59% 35%CclG& Epf A 51% 31 ColG&EpfB (5 45% 34% Colum Pie vte (m1) 79% 67 Columb Carbon (4). 47% 39% Comcl Credit (2)... 113 109% Comcl C 1st pf(6%) 33 291 Comcl Cred (B)(2). 62% 56% Comel Inv Tr 12%.; 23% 17% Comcl Solv (t85c).. 1% % Comw & Southn.... 40% 29% Comw & Sou pf (3). 34% 27 Congoleum-N(1.60) 42 23% Conn Ry & Lt (434) 45% 44 Conn Ry&Ltpf 4%. 82 T1% ConCprpfww6l. 22% 15% Consol Film pf (j2). 15% Consol Gas N Y (1). 72% Consol Gas pf (5) .« 6% Consol Ofl (042¢). e % Consol Textile. ...« 95 Container Corp (A)s 3% Contatner Corp (B). 435 Contl Baking (A) ... 62% Contl Can (2.40).... 7 Contl Dia F' (albe| 28% Contl Insur (11.35). Ye. 62 Corn Prod Ref (l).. 4% Coty Ine........o00n 35% Cream of Wht 12%.. 124% Crosley Radio.....s AT% 101 3 2 Curtiss Wright... 10% 6% Curtiss Wright (A). 83 173 Cushmanspf (7)... 65 64% Cushmans pf (8)... 16 Cutler Hamme: 31 22% Deere & Co..... 22% 19 Deere&Co pf (320c). 43% 23% Delaware & Hudson 26% 37T% 34%Diamond M pf (13%) 41% 34% Dome Mines (2).. 24% 17% Douglas Alrcraft. 9915 86% Du Pont de N (2.6 130 126% Du Pont deb (6) 107 104 Duquesne Lt 1st (6) ———————— 123% 110% Eastman Kod (6)... 155 141 Eastm'n Kod pf (6). 20% 16% Eaton MIg (1).eeve ¢ & 2 T PUND AR AR S AR AR R ANE LA B R OGRS N R0 A Y @ =8 ~ 4+ A+ttt 4 42% — 110- 112% 112% 112% + % Wl 30% 30% 30% + W 69% 58% — % 12 19% 19 - % 29 1 +% 37T% +1% 29 26% +1% 41 —-4% 1 -1 33 20 - % 8#'6 +1% % + FE #S:*### FY 33 11% — % 0% 115 —1% 29% — % 35% ~ % B~ % 19% % 2 130% 130% IM ¥ !fi 308 105% 105% 105% 10 121 408 155 155 1556 8 18% 17% 1Th = % T 55% 46% Inland Steel (1). 3% 4% 164 42% 213 Inspiration Copper. 4 Insur Shct Md l4c.. 83, Interboro Rp Tr(k). 31 Int Agriculture pf.. 161% 149% Int Bus Mach (p6) .. 6% 33 4374 274 24 3% Lnt-Carriers Ltd 200 2274 Int Cement (1)..... 3414 Int Harvester (60c) 1% Int Hydro Elec (A). 224 Int Nick Can (60¢)., 130 125 Int Nick Can pf (7) 12 245 314 46% 5% 9% 123 % 57 57% 4'5 Int Paper & Pw pf 21% Int Print Ink (1)... 29 IntSalt (1%) . 42 Int Shoe (2).. 60 Int Silver pf (4). 5% Int Tel & Tel..... 9 Interstate Dept Strs 6% Intertype Corp 49 Jewel Tea (3) 38% Johns-Manvill 125 117% Johns-Manv pf 73 28% 51% Jones&Laugh 'l%nt . 6% Kahs City South pf. 715 Kaufm'n D S(adoc) 15% Kayser(J)& Co 5ve. % Kelly-Spring T (k). 6 Kelsey-Hayes (A).. 3% Kelsey-Hayes (B 145 Kelvinator (170c. 13% Kennecott C (§0¢). . 42 Kres; 23% Kroger Gr&Bk —— 31 2% 12% 11% T4% 32% 109% 19% Laclede Gas pf..... 1%2 Lehigh Valley Coal, 6% Lehigh Val Coal pf.. 5 Lehigh Valley R R. 6T Lehman Cp(t2.65).. 211 Lib-O-Ford G1(1.20) 95' Ligg & Myers B(16) 157% 151% Ligg & Myers pf (7) 19% 22 30% 367 16% Lily Tulip Cup(1%) 17% Link Belt (60¢)...w 24% Liquid Carb (11%) 31% Loew’s Inc (3)..... 107 102 Loew’s Inc of (6%) 36% 213% 83% Loose-Wiles (2).... 18% Lorillard P (12.20). 135% 126% Lorillard P pf (7).. 14% AT% 18% 46 13 12% 45% 100% 8% 45 8 19% 2T% T 10% Louisv GEE(A)1%. 34 Loulsv & Nash (3) 12% Ludlum Steel...... 40 MacAndrw & F (13) 7% McCrory Strs A (k). 7 McCrory Stra B (k). 36% Mclntyre Porcu (2): 90% McKeesport T P (4) 6% McKesson & Rob. .. 37 McKesson & Rob pf. 8% McLellan Stores (k) 20% Mack Truck ( 30% Macy (R H)& Co(2) 18% Magma Copper (3). 1 Mallison &Co...... 4 Manati Sugar pf (k) 32, Man Elev gtd (k)... 13% Man Elevm g (k) ... 4% Marancha Corp....: 5% Marine Mid1d (40¢c) . 20 Marlin-Rockwell (2] 6% Marshall Field..... 23% Mathieson Alk(1%) 357% May Dept Str (1.60). 33 Maytag pf ww (3) 84% Maytag 1st pf (6).. 41 Melville Shoe(t2%) 3 Mengel Co... . 20% Mengel Co pf. 22% Merch & M Tr(1.60) 24% Mesta Mach (1%).. 9% Mid-Cont Pet(h60c) 81% Midland Steel Prod. 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 pt (K)... 21% Montgomery Ward. 60 Morrell(J)&Co 3.60. 17% Motor Products.... T% Motor Wheel.ooever 7 Mullins Mfg. 4% Murray Corp. 12% Nash Motors (1)... 14 NashvChat &St 4% Nat Acme Co. 120% 121 + %| 80% 22% Nat Biscuit 2 146 141% Nat Biscuit pf 18% 1315 Nat Cash kHeg A 6 " e ER e o s mee .-:.)ab‘-“‘ ST R g TS 19t | | + | PIl+4004 i E + | | 613 Skelly Ofl.... 13 Sloss-Sheffield 167 Snider Packing.... 11 Socony-Vac (60c).. 20 Sou Por RicoSug(2) 10 South Cal Ed 1%4).. 12% Southern Pacific 7% Southern Railw: 10 Southern Rwy pf. 5 Spalding (A G). 441 Spalding(AG)1stpf 10s 3ia Sparks-Withington. 4 Spear & Co 1stpf... 10s STEWART-WARNER BUSINESS JUMPS @ F3 N R NRTOPE RS @ e o [SIPEY1 P Sales Are Thirty Per Cent| Above 1934 in First Three Months. By the Associated Press. RICHMOND, Va, April 2.—James S. Knowlson, chairman of the board of Stewart-Warner Corp., reported %lw stockholders at the annual meet- “u % % % n ing here today that gross business done by the company during the first three months of this year was 30 per cent greater than during the corre- sponding quarter of 1934. His report showed earnings during the first two months year were $200,- 000, as against $32,000 for same months last year. Sales of speedome- ters have mounted as high as 10,000 daily on several days since January 1, ne said. T. R. Sullivan of Chicago, secre- tary-treasurer of the corporation, was elected to the board, succeeding Robert J. Graham, who recently died. James E. Otis, jr, of Chicago, is president of the company. Candidates for re-election to the board of directors meeting in Chicago Friday include Mr. Knowlson, Mr. Otis, Mr. Sullivan, Eugene R. Thayer of New York, and Sidney Adler, R. J. Dunham and Ralph M. Shaw of Chicago. FOREIGN MARKETS. By the Associated Press. LONDON. —Investment buving. due to better budget prospects. sharp lmprovamznt in gilt-edged securities on he Stock Exchange todu soecuh T8 656 22% 22% 224 2 143% 142% 142% - % o 5_14% _14% 1% ian _bon and _motor 2:“2‘:" %ehlz' arket onm-ue closed quiet ang prices drooped. PARIS_Trading strengthened on the Bourse today. rentes the rise in Prures “ofares Cafier & weak - opening: With the exception of Young 2“” issues, the International group was weak, Belglans fuctusted throughout the session. g Wi BERLIN - Pflul rtmlmed quiet, due to a smaller turnover on the Boam today. —_— FREIGHT LOADINGS. (1Y carianaihes on. railroads Teporiing ings on railroads &‘:yt(::r%a! w=ek ended March 30 in- Last year. 21,231 13,331 cluded: Week Previous March 30, week. 943 20,147 Wabi 13,676 CASH B.EGISTEB. SALES UP. NEW YORK, April 2 (#).—Domestic mmumuwmmm in March totaled $1,562,100, com- pnred with $1,310,150 in the same month last year. Price of second-grade steel has been increased from $2 to $9 & ton. 9 11: 00 A.M. % | declaratio: a | 9% in stock. 2% ||4|»|+lll 4% 3 ZoniteProducts.... 9 Sales of Stocks R the ln' York mnuo, ns P 5 Unit of trading less than 100 shares. : hPaid last ye Jear—no, ntnek ehnhh In euhw‘i tock Plus, 31 3% eiven in the above table are the mnun 5% cast ‘payments Daaed’ on the iatest uarterly or half-yearly 1Partly extra. IPius regular rate. b Fayable 1n 1 Plus Sl ln lflelll preterred 'alg this y 3 Accumuisted |vgnmp gF being reo % in stock b Plus 9% CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, April 2—The follow- | ing is today's summary of corporation news prepared by Standard Statistics Co,, Inc, New York. International Printing Ink Corp.— 1934 preferred share earnings were $16.67 vs. $3.87. United Air Lines Transport Corp.— United States Supreme Court denied Pacific Air Transport, a subsidiary, a ireview in its suit against Postmaster General Farley to enjoin cancella- tion of airmail contracts “without no- tice and hearing.” Pennsylvenia Coal & Coke Corp.— 1934 net income was $17,687, equal to 11 cents a common share vs. deficit $181,787. Pond Creek Pocahontas Co.—1934 common share earnings were $4.37 vs. $1.83. Swift & Co.—Company formally called for payment July 1, 1935, at 102% and interest, entire issue of its first mortgage 5 per cent bonds, due July 1, 1944. Doehler Die Casting Co. 1934 com- mon share earnings were $1.95 vs. 60 cents. Phillips Petroleum Co.—Company called for payment June 1, 1935, at 101 and interest, $5,991,000 of its 5% per cent debentures, due June 1, 1939. Chicago, Rock Island & Pacific Ry. —United States Supreme Court de- nied right of New York and Chicago banks to sell collateral held against | loans to this company; section 77 of | bankruptcy act was upheld in the decision. International Great Northern R. R. —Directors decided that no April 1 interest will be paid on edjustment mortgage 6 per cent bonds. Horn & Hardart €0.—1934 common | share earnings were $1.60 vs. $1.52. Steel ingot production in the United | States for the week beginning April capacity, according to American Iron and Steel Institute. This compares with 46.1 per cent a week ago. | United States Steel Corp.—Orders received in first three months totaled 1,774,272 tons, compared with 1,504,015 tons in like quarter of 193¢ and 631,000 tons in same 1933 quarter. Bell Telephone Co. of Pennsylvania «=Tebruary net operating income was $1,104,730 vs. $1,120,254; in 2 months net operating income was $2,329,380 vs. $2,380,528. Aero Supply Mfg. Co. 1934 deficit was $34,910 vs. deficit $20,908. semi-annual interest on its 6 per cent notes. It was said this does not mean that interest will not be met in the future, since the decision on this mat- ter is up to the trustees, subject to approval of court. ‘Warner Co.—No interest was paid April 1, 1935, on company’s comula- tive 6 per cent income bonds, due 1944; unpaid interest amounted to 15 per cent. NEW YORK BAR SILVER. NEW YORK, April 2 (#)—Bar sil- ver quiet and unchanged at 61%;. 70| e e e e T T TEEI. INGOT PRODUCTIO! ].. UNIT PERCENT OF CAPACITY e Bl . JANT FEB MAR APR MAY JUNE JULY AUG SEPT OCT NOV DEC- x Kelly-Springfield Tire Co.—Com- | pany will not meet, on April 1, the | i 301660 1630 16.50 Cash wheat, No. 3 red, 76; No. 1 | hard, 1.03%; corn, old, No, 1, yellow, 87; new, No. 3 mixed, 84 (mainly yel- low); No. 2 yellow, 86% | 883,289, ; oats, No. 2 white, \ Iye, buckwheat, soybeans, no barley, 68al1.20; timothy seed, 18.50 hundredweight; clover 15.50a19.50 hundredweight. | Liverpoo! Grain Prices. LIVERPOOL. April 2 @ .—Wheat | tures’ closed steady | Hish fue 1 is scheduled at 444 per cent of | Jul | October » Exchange. 4 8013, New York Cotton By the Associated Press NEW YORK, April 2.—Cotton was less active today, with early advances mostly canceled under foreign sell« ing and liquidation. Near months were relatively steady on trade buying, ruling about 4 to 5 points net lower during the middle of the afternoon. while later deliveries showed net losses of 12 to 19 points. Liverpool Quotations. LIVERPOOL. April 2 .—Cotton. bales. —including _S00 America moderate business done: prices bigher. Quotations in-pence: strict “good middlin diing, §80: striet middiing. & dling, 6.36: strict low middling. 6.2 log middiing. 5.06; strict good ordinars 5.76: good ordi 546 Futures closed *iay. 612 July. 6 December. 5.71 January, 7000 American mid~ OFFICE EQUIPMENT WE SELL, BUY or EXCHANGE Adding Machines Check BAUM’'S FURNITURE HOUSE 1416 Eye St. NW. Ph. NA, 2184 MASSACHUSETTS INVESTORS’ TRUST Prospectus Will be Sent on Request A. 8. GouLpkN & Co., Inc.) Natl. 2000