Evening Star Newspaper, April 3, 1935, Page 14

TA—14 ¥¥% FINANCIAL. BUEKLEYMUR[DTRANSACTIONS ON THE NEW YORK STOCK EXCHANGE BY LOAN LEAGUE D. C. Building Association Leader Appointed to Ap- praisers’ Board. BY EDWARD C. STONE. R. E. Buckley, president of the National Permanent Building Asso- ciation, 949 Ninth street, has been made a member of the Board of Gov- ernors of the newly organized So- ciety of Residential Ap“msers‘ ac- cording to word reaching Whe fancial district from Chicago headquarters today. The society has 15 members on the board chosen from different sections of the country by the head of the United States Building and Loan League, which is sponsoring the activities of the new organization. “The purpose of the organization is to collect current information on the various factors entering into the long-term value of a piece of resi- dential property,” said Mr. Buckley, “especially in the case of a small unit residential property, the one, two or three family home. The appraiser up to now has been doing the work, with his background of experience, for the real estate broker and is thus influenced by the optimistic or pessimistic color of the market. “Such biases militate against the reasonable valuation of a home for a long period of years and there is a feeling today, when more and more emphasis is on the long-term home Joan, that some specialized knowledge of the factors operating here is de- sirable. The society will attempt to provide that knowledge by current publications and other means of dis- tributing its informatio Mr. Buckley said that membership in the society is not confined to those appraising homes for building and loan associations, but is open to all interested in appraising. He said that special welcome would be given to those who are doing appraising for the home lending programs of insurance companies and mutual sav- ings banks. Net Incomes Reflect Upturn. That February was a highly satis- | factory month from che standpoint of | earnings by the public utility corpora- | tions in Washington is revealed in a nutshell summary of the figures filed with the Fublic Utilities Commission. January and February combined make an equally good showing. The Washington Gas Light Co. re- ported net earnings in February of $207,392 against $174,342 in Febru- ary, 1934, an increase of $33,050. For the two months net totaled $344.939 against $33,657 a year ago, up $11,280. Potomac Electric Power’s net in February was $339.283.26 against $364.143.18, off $24,859.92. Two months, $743,521.21 against $765,- 028.08, a drop of $21,506 87 in the like period in 1934. Chesapeake & Potomac Telephone Co. reported February net of $146,889 against $159.407 in the previous year. Net for the first two months of 1935 amounted to $305.818 against $322,- 854. Both the number of phones in use and the number of calls com- pleted werc higher than last year. Georgetown Gas Light Co. reported February net as $6,132 against 34,029 in the second month of 1934, higher by $2,103. First two months’ net in- come was $9,825 against $6.435, an increase of $3,389. Washington Rapid Transit scored substantial improvement in February | over the same month last year. In the first two months the bus com- pany turned a deficit into a profit, re- porting an improvement of $3,566.29. Aside from utility earnings, depart- ment store sales were 19.2 per cent and 16 per cent for the first two months; insurance sales were 35 per cent ahead of last year in February and 37 per cent for the two months, and bank clearings were also far above the 1934 marks. President Graham Improves. Officials of the Hamilton National Bank have just received word from the president of the institution, Ed- win C. Graham, that he is greatly improved in health at his Winter residence in Florida. Mr. Graham has been in the South for several weeks on account of his health, and the balmy breezes have proved most beneficial to him. He is expected to return to Washington the latter part of this month and will resume regular duties at the bank at that time. The three trustees winding up the affairs of the old Franklin National Bank have sent notices to all de- positors telling them the exact amount due them from the assets now being liquidated. The notices are in the form of “participating cer- tificates” which are proofs of claims for the remaining 35 perggent of un- paid assets. When theWtlaims wilk be paid is not stated, in fact the date is not yet known. The Franklin paid 65 per cent at the time the bank became a unit in the City Bank. J. F. Fogarty, president of the North American Co., of which the Potomac_Electric Power and Wash- ington Railway & Electric Cos. are units, has given his whole-hearted support to proposals for Federal reg- ulation of the utilities as presented by Wendell L. Willkie, president of the Commonwealth & Southern Corp., to the House Committee on Interstate and Foreign Commerce. Mr, Fogarty expressed himself as in full accord with the proposals, which he consid- ered sound in every respect. At the same time the electric power com- panies have come out strongly against the Federal Power Commission’s re- port and declare they can furnish all the power needed in all parts of the country. $1,559,569,300 Bonds Switched. ‘Treasury reports state that $1,559,- 669,300 of the fourth Liberty loan bonds called for redemption on April 15 have been exchanged for the 27 per cent Treasury bonds. Subscrip- tions reported by the Richmond Re- serve Bank totaled $38,681,100, and subscriptions made direct to the Treasury so far totaled $38,747.850. 1t is announced that the Treasury will do no more financing until June 15. The recent offering of $50,000,000 272-day Treasury biils was oversub- scribed, the total being $119,428,000, of which $50,018,000 was accepted. The Treasury and the Post Office Department report that people in the Capital have purchased “baby bonds” amounting to a total of $376,425. The total for the whole country so far is over $38,000,000. Traction Bonds Reach 100. Trading on the Washington Stock Exchange today was the heaviest in many sessions. Business opened with Wuhlngmn Railway & Electric pre- ferred selling 103% on a 39-share ‘turnover. Capital Traction 5s hit par for the first time in several years. At 100 there were several important sales, the largest bond turnover in this issue in weeks. Eight consecutive sales were record- ed in Mergenthaler Linotype, all made at the recent price of 30 and involv- ing 111 shares. 30 bid and 31 asked. Riggs National common came out at 214%. » By private wire direct to The Star. 2:30 p.m, Prev 1035 Stock and Sales— High. Low. Dividend Rate. 61. 35 Abrm Strauss t 4% Adams Expr¢ 0. 1008 11% 8% 115% 17 20% 319 1% 4 ) 104% Air Redudtion (3).. 74 Air-Way Elec Appl. 15% Alaska Jun ($1.20).. 2 Albany Wrap Paper % Alleg Corp (K)..... 2% Alleg pf w$30w (k). 6% 1% Alleg pfx w (k). 23 21 Allegheny Stl (1) 141 125 Allied Chem (6) Allis-Chalm 12 o S cersmmmm u = S —ew 10 ‘Am Car & Foundry. 38 AmChainpf....... 22% Am Comel Alcohol. 615 Am Crystal Sugar. . 57% Am Crystal Sug pf. M =3 S N 10 B N 1 00 e RS B N SO 14 Am & For Pw pf (7) 3% Am & For Pw 2d pf. 9% Am Hawailan SS(1) 2'% Am Hide & Leather. 17 Am Hide & Leath pt 30% Am Home P (2.40) .. 33 Am Ice Co..... " 287« Am Ice Co pf (6). 4'; Am International 9 Am Locomotive 18% Am Mch & Fy (loc) 8% Am P&L $5 pf (l“) 10% Am P&L $6 f (1%) % 317 Am Smelt & Ref. . 103 Am S&R 6% pf (]3)- 18% 12 Am Steel Foundry.. 43 33% Am Stores (12%4)..3 70': 55': Am Sug (2). 3514 12612 Am Sugar pf 107% 987x Am Tel & Tel (9). . 84% 723, Am Tobacco (5).... R86% 74% Am Tobacco B (5).. 1382 129'x Am Tobaceo pf (6). 6% 2'3 Am Type Fdrs (k).. 19% 9 Am Type Fdrs pf(k) 14% T Am Water Wks (1), 60 48 Am Wat W 1st (6).. 9 4'.. Am Woolen. . 45'« 35'; Am Woolen Df 38% 31 Am Zinc & Lead nf 12% 8 Anaconda Copper 41'¢ 36 Archer-DanM t1%. 120 118y Archer-Dan pf (7).. 106' 98 Armour Del pf (7).. 64 3% Armour of llinofs. . 70% 58 Armour Il pr pf ¢6) 5 81 AssoDG 1st pf(j3). % 35% Atch To&S F (h2).. 2 66% Atch To&S F pf (5). 197x Atlantic Coast Line. 3 Atl Gulf & W Ind.., 21% Atlantic Ref (1). Atlas Powder (2)... % Atlas Powder pf (6) 15 Auburn Auto....... 3 Aviation Corp Del.. 112 3 m 1 293, 5% 6% 26% 15 177 1'; Baldwin Loco (k).. 8% Baldwin Loc pf(k). 71; Baltimore & Ohfo. .. 91 Baltimore & Ohio pf 57 Barnsdall Corp. ... Bayuk Cigar (b¢).. 107% Bayuk Cig 1st p£(7) 111a Belding-Hem a50c. 1174 Bendix Aviation.... 152 Beneficial Loan 1%. 34 Best&Co (2).. 21% Bethlehem Steel. 55% Bethlehem Stl pf... 14%, Bigelow-San Corp.. 9% Blaw-Knox. 445 11 49% Bohn Alum&Br 90 Bon Ami (A)(t5)... 21 Borden Co (1.60)... 281 Borg Warner (1%). 2415 Briggs Mfg (2).. 231 Briges & Strat (3).. 31% Bristol-Myers 2.40. 2612 Bklyn-Man Tr (3). ¢ 90 Bklyn-Man T pf (6) 1': Bklyn & Queens. ... 31 Budd (E G) Mfs. 23 Budd (EG) Mfgpf 2'; Budd Wheel! 8% Bullard Co. 37 Bulova Watch. 3 Burns Bros pf. 13% Burr Add M (60c)... 513 Bush Term deb (k). 10 Bush Tr Bldg pf ct. 1'x Butte Cobper & Zine %, Butterick (k) . 11% Byers (A M) 3613 California Pkg(1%4) 13 Callahan Zinc. . "'z Calumet & Hecla. v 713 Campbell-Wyant. ., 8% Can Dry G A (40c) 9% Canadian Pacific. .. 32 Cannon Mills (2) 45% Case (J I) Co.. 84 Case (JI)pf(4).... 36' Caterpillar Trae(1). 19% Celanese Corp. 2 Celotex Co (K)....a 22% Cent Aguire (13%).« 34 Central RRofNJ.. 65 Century Rib Mills. . 38 Cerro de Pasco (2) 43; Checker Cab Mfg 371 Ches & Ohto (2.80). % Chi Gt Westn (k). . 1% Chi Gt Westn pf(k) % Chi Mil St P& P. 3 Chi Mil St P & P pf. 2% Chi & Northwestrn. 4% Chi & Northwest pf. 4% Chi Pneumatic Tool 20 ChiPneu Tool pf... 15 Chi R I&P 7% bt (k). 25% Chickasha CO (2). 314 Childs Co.......... 31 Chrysler Corp (1), 20 City Ice & Fuel (2).. 87 Citylce& Fpté% 1 City Stores (k) % City Stores ctfs (: 161% Coca-Cola (8). 16% Colgate-P-P (50¢) . 9 Collins & Alkman... 69% Collins & Alk pt (7) 15 Colo Fuel & Iron (k) 5 Colo Fuel & Ir pf(k) 3% Col Gas & Elec..... 67 Columb Carbon (4). 3915 Comel Credit (2)... 5215 Comcl Credit(A)(3) 29 Comcl Cred pf (1%) 109% Comel C 1st pf(6%) 291 Comcl Cred (B)(2). 56% Comcl Inv T 12% + 17% Comecl Solv (t85¢).. % Comw & Southn.... 29% Comw & Sou pf l')- 27 Congoleum-N( 71 ConCprpt"l%. 4% Consol Film... 15% Consol Film pf (32)+ 15% Consol Gas N Y (1). 72% Consol Gas pt (5)..: 6% Consol Oil (h42¢). . % Consol Textile..... 9% Container Corp (A): 3% Container Corp (B). 4% Contl Baking (A)... % Contl Baking (B)... 62% Contl Can (2.40)...s 28% Contl Insur (11.36) . % Contl Motors....... 15% Cont O(DeD)ali%e.x 18 41% Corn Ex Bk&Tr (3). 108 62 Corn Prod Ref (3) : PO 1O b TV D 30 100 1 b oS 123 Crosley Radio...... 43% Crown C&S pf(2.70) 3% Crown-Zellerback. « 5% Cuban-Am Sugar. 40% Cuban-Am Sugar pt 9 4 1 1 1 1 1 3 . 15 65 Detroit Edison (4).. 26% Diamond M (113%).: 34% Dome Mines (3)...' 17% Douglas Aircraft. 183 Dresser Mfg A h1 103 103 Duplan Silk pf (8). 991 86% Du Pont de N (3.60) 130 126% Du Pont deb (6) 107 104 Duquesne Lt 1st (5) The stock cl0sed With | cem————me: 8 3%, Eastern Roll Mills.. 123% 110% Eastman K04 (5) e 32 16‘- 2% 7 32 3110 110 1lo % THE EVENING STAR, WASHINGTON, et Add 00. High. Low. Close. Chge. 82 -2% -1% 86% — 20 — 18% + 16% +1 1% + % 1% + % 23 32 106 Pt 12 — 8 33% 5615 128% — % 102% — % oIS TN — % 138% + 14 14+ L+ S RE FEFE S8 10s 105% 105% 105% R A% A% 4% 9121 119% 120% — W D. €., WEDNESDAY, APRIL 3, 1935. STOCK AVERAGES Complled by the Assoclated Press. Net change . Today, 1 p.m. Previous day . Month ago . Year ago .. 1935 1935 1934 1934 1932 1929 1927 Prev. 1935 Hignh. Low. 156 141 1 21 15% Eng Pul TxErfeRR 10% Eureka 3% Fed Mol 97 Foster- 3515 13% 16 654 80 GenRy 16's Gen Re: 15 GenSu 12 2' Gimbel 4% 35 5% Granby 26 Grant ( i's 67 6l 0% 55 lOs‘: 101 IOa 86% 9 16 81 85 TT% 9% 3% 524 5y 12% 3% n 174 57 33 704 554 4% 16% 913 Illinotls 6013 4 5 161 6% 33 43% 2% 3 24% 3 12 Ii’ 5% Int Tel 12‘4 57 3 88, 10% 19 28, 13% 11 8% 18% 18% 38 22 23 Kinney 19% Kres; 28% 23Y% Kroger 5 Lehigh 21 Life Sa 95% Ligg & 31% Loew’s 21% 1% 14% 103 Louisv 103 28 McCall 7% McCrory Strs A (k). 7 McCrory Strs B (k). 57% McCrory Strs pf (k) 365 Mclntyre Porcu (2). 901 McKeesport T P (4) 6% McKesson & Rob. .. McKesson & Rob pf. 812 McLellan Stores (k) 20% Mack Truck (1).... 305 Macy (R H)& Co(2) 18% Magma Copper (2) .. 1 Mallison &Co... 37 % Manati 4 Manati 32 Man Elev gtd (k). .. 5% Marine 23% Mathieson Alk(13%) 35% May Dept Str (1.60). 5% Maytag Co.... 33 Maytag pf ww (3).. 41 Melville Shoe(t2%) 3 Mengel 20% Mengel 24'» Mesta Mach (1%).. 27 M-G-M 914 M1d-Cont Pet(h50¢) 60% Midrd Stl 1st pf(8) 58 Minn Hon R(13%). 3% Minn Moline Pow. .. 2% Mo Kan & Texas, 1% Mo Pacific (K) ... 1% Mo Pacifis pf (k)... 10% Mohawk C M (h25e) 556 MonsantoC (1).... 21% Montgomery Ward. % Mother Lode. . 17% Motor Products. 7% Motor Wheel 7 Mullins Mfg. 13Y% Munsingwear Stock and Dividend Rate. Eastm’n Kod ptf (6). 16% Eaton Mfg (1).. 1913 Electric Auto Lite 37 Electric Boat. Elec & Mus Ind. Elec Pwr & Ligh! ec Pwr&Lt $6 of.. 3 Elec Pwr&Lt $7 pf. 14 Eng PubSve $5 pf.. 14': Eng P S $5.60 pf ww 60% Foster- 6% Fox Film (A) 17% Freeport-Tex: 4% Fuller Co 2d p: % Gen Realty & Util.. 14% Gen Real&U pf ww. Gillett Saf Raz (1).. 7015 Gillett Saf R pf(5). s Glidden Co (11.30) . lOS‘. 10475 Glidden Co pr pf (7) 213 Gobel (Adolf) 1471 Gold Dust (1.2 i3 Goodrich (BF). 40 Goodrich (B F) 15% Goodyear T& R.... 71 Goodyear $7 pf (4). 2% Gotham Silk Hose. . Gotham S H pf (7). 1': Graham-Paige. 67% Lehman Cp($2.65).. 21% Lib-O-Ford G1(1.20) 131% Lima Locomotive 24'% Liquid Carb (11% % Loose-Wil 2). 129 126 Loose-Wiles pf (7). 18% Lorillard P (12.20) . % Louisiana Ofl.....« 90% Ludlum Stl pf (6%) ——— 40 MacAndrw & F (13) 30 Indust. —4 50.5 50.9 51.6 57.7 56.6 49.5 614 453 17.5 146.9 15 Rails. —2 188 19.0 19.9 384 216 15 60 Util. Stocks. —2 —3 242 36.0 244 363 223 364 35.2 47.2 26.6 41.6 216 348 40.6 51.4 242 349 239 16.9 1843 157.7 618 61.8 Sales— Add 00. High. Low. Close. Chse. 40s !5‘!‘0 153% 1535 —1% 1% 1% - % 19% 20 - % 3% 4 12 61k 2% 6% T 17 % b Sve $6 pf.. 5 Equit Office Bldg... 81; Erle RR st pf. Vac Cl(!(\c) 16%: Evans Auto (a75¢). 4 Fairbanks Copf.... 17 Fairbanks-Morse 711 Fairbanks-Mrs p! 5% Fed Lt & Trac. . .... 45 Fed Min & Smelter.. tor Truck. .. 161 Fed'd D Stores (11). 28 Fid Ph F Ins(11.35) 13% Firestone (40¢)..... 46 First Nat Strs(2%) 19 Florsheim (A)(1).. 20% Food Mach (1). . Wheeler Wheeler pf 323 Gen Am Trans(1%) 11% Gen Asphalt....... 71% Gen Baking (60c) 5% Gen Bronze. .. 4 GenCable (A) 19 Gen Cable pf. 50 Gen Cigar (17 20% Gen Electric ( 11 Gen Elec spes 321 Gen Foods (1.80)... 10 Gen G&E 6%cv pf A 15% Gen G& 5974 Gen Mills (3). 11814116 Gen Mills pf (6) 344 2613 Gen Motors (1). 1134 107} Gen Motors pf (5).. 7 17% Gen Print Ink 1.20. . BopfA.. Signal pf(6) i e e B B frac ctfs.... Casting pf.. + Sros. .. 9 @ 0 T & Consol. 214 Grand Unton. .. w T)(H’u) 9% Great Northern pf.. 26% Grt West Sug (2.40) 19 GuantanamoSug pf. 7 Gulf Mebile & N pf. 48 Gulf States Stl 1st +| 25% 211 Hackensack W(1%) 3! Hahn Dept Stores. . Hahn Dpt Stores pf Hanna (M A)pf(7). 16 Harb Walker (1). 998, Harbison & W pf(6) Hat Cpf ww (6%5). Hazel Atlas Gl (5).. 11 Hercules Mot (60c). Hercules Pw (13%) 615 Houdaille-Hersh B. 114 Houston Oil (new)., 43 Howe Sound (3) 2% Hudson & Manhat.. 6% Hudson Motor Car.. s Hupp Motors. .. —_— 3 Central 40 11l Cent Isd lines(4) 24% Indus Rayon (1.68). Ingersoll-Rand (2). 46'¢ Inland Steel (1).... Insur Sh ct Md 1l4¢c.. 8% Interboro Rp Tr(k). 2% Int Agriculture. . 149% Int Bus Mach (p6) .. 3% Int-Carriers Ltd 20¢ 227 Int Cemnomt (1)..... 34% Int Harvester (60c) 1% Int Hydro Elec (A). 21 Int Merch-Marine. .. 22% Int Nick Can (60c)., 1% Int Paper & Pw (A) 41 Int Paper & Pw pf.. 4214 Int Shoe (2) & Tel. 9 Interstate Dept Strs 301 Island Creek C (2). 49 Jewel Tea (3)...... 57% 381 Johns-Manville. ... 51% Jones&Laugh 7%pf. 3% Kans City Southern 715 Kaufm'n D S(a40c) 15% Kayser(J)& Co 50c. % Kelly-Spring T (k). 6% Kelly-Sp Tire 6% pf 6 Kelsey-Hayes (A).. 3% Kelsey-Hayes (B).. 145 Kelvinator (170c) 13% Kennecott C (60c).. (G R) Copf (S8)(1)... 112 106 Kresge (S S)pf(7). Gr&Bk 1.60. 19% Laclede Gaspf..... 26 Lambert Co (3) Valley R R. ver (1.60)... Myers B(15) 9 Inc (3). ). 1, 38 333 126 126% —1% 18% 19 — % [ - HONOR DDA T s b DI T1E 50 B 1 e 188 e [ 13% + % 96 -2% 44% 30% +2% B —14 . 60 431% 9% 1 % 13% 96 G&E(A)1%. Corp (2). 32‘4 -~ - 40% 8% + - Sugar (k). Sugar pf (k) + FEOFAFEE & T Bs Midld (40c). . Co... . Copt.. S Pic pf (1.89) 2 - o o 09 0 B N OIS 1 e R - 13 2:30 p.m. Prev. 1035 Stock and Sales— High Dividend Rate. 19% 12 Nash Motors (1 ook R aSanBemng 30% 22% Nat Biscuit 2) 146 141% Nat Biscuit pf (7) 18% 13'/1 Nat Cesh Reg A 600 1T% 7 Nat Dairy Prod 1.20 4% 1,», Nat Dept Store (k). 34% 17 Nat Dep St 1st pf(k) 291 24% Nat Distillers (2).. 29 2315 Nat En & Stpg (hl). 16815 145 Nat Lead (5) 158% 150 Nat Lead pf (A) (1) 7% 47 Nat Pwr & Lt (80¢) 50% 40% Nat Steel (11%) 14% 9 Nat Supply Co 11% 8% Nat Tea (60c). 52 43 Newberry(J J) 1. 113% 109 Newberry (JJ)pf(7) 8 4% Newport Industries 12% N Y Central RR.... NYChi&StLopt.. 2% N Y N H & Hartford 6 NYNH& Hart pf.. 6% N Y Shipbuilding. .. 72 NY Shipbldg pf (7) 30% Noranda Mines (h2) 175 158 Norfolk & W (110). 1014 99 Norf & West pf (4). 4 2 North Am Aviation. 1315 9 North AmCo (1)... 4 35!z North Am Co pf (3). 21% 13% Northern Pacific. ... 2 ) o 1O 19 0018 B B0 = NI ke et TN o = > M S ——o® 10% 9% Ohio Ol (h45e).... 4% 17 Oliver Farm Equip. 26% 1% Oliver Fprpf A 37, Omnibus Corp. . 5 Oppenheim Collins. 15% 11% Otls Elevator (60c). 112 106 Otis Elev pf (6) T% 4% Otls Steel. 90% 80 Owens-Il} 177 13% PacificG& E (1%). 23% 19 Pacific Ltg (2.40).. 81 70 Pacific Tel & Tel (6) 8% 7 Pac W'nOil (h40c). 57 3'; Packard Motor... Pan American Pet. ., 4+ Par-Publix ctfs (k) 13% Park & Tilford 2% Park Utah. s Pathe Exch 10'; Pathe Exchange 8% Patino Mines. 1% Peerless Motor. 6413 Penick & Ford (3) 59% Penney (J C) €3)... 2!, Penn Coal! & Coke. . T Penn RR (1)...... 30 Peoples Drug S (1). 17% Peoples GasChi.... 7% Petrol Corp (h&0c). 12%, Phelps Dodge(h75¢) 3813 Phila Co pf (6) n. 1% Phila & Read C & 1. Philip Morris (1)... Phillips Petrol (1). '« Pierce-Arrow (k). .. 3 Plerce Oil...... %, Plerce Petroleum. 31 Pillsbury Flour 160 5'z Pitts Screw & Bolt. Pitts United C p! 613 Plymouth 01l (1). 814 Postal Tel & Ca pf.. 1' Pressed Stl Car (k) 42% Proc & Gamb (14). :115 Proc & Gam pf (5).. 20% Pub Serv NJ (2.30) 62% Pub Serv N J pf (5) “85'% Pub Serv N J pt (1) 527x 41% Pullman inc (3) . Pure Oil. . Pure Oil pf 8% Purity Bakeries (1) 25 165 4 Radio Corporation. 2 50 Radio Corp pf A 3% 35 Radio Corp pf (B).. 1% Radio-Keith-Or (k) 4% R R Sec 11 Cel 161; Raybestos-Man (1) . 20's Real Silk Hos pf... % Remington-Rand.. 831, 71% Remington-R 1st pt 3‘- 2% Reo Motor Car. . 15 9 Republic Steel 49' 28% Republic Steel pf... 6 Revere Copper. 43% Reynolds Tob B 29'3 Roy'l D h1.35 3-10c. 46 3Ty Safew: 110 104% Safew | 1127« 110 Safeway Strs pf (7) 17% 10% St Joseph Ld (40c). 2 1 StLSanFran (k) 1% St L San Frpt (k 6 Savage Arms... 22 Schenley stllller:. 2 Schulte Retail Strs. 10; Schulte Re Strs pf. . 55 Scott Paper (1.70).. 203 Seab’d Oil(Del) (1) 31 Sears Roeb'k (75¢). 11: Second Nat Invest.. 41 Sec Nat Inv pf (12). 11% sin 320 Stores(3). Strs pf (6) 215 93, 281 4 20% 7% Shattuck(F G)25¢.. 513 Shell Union Ofl.. ... 63'4 Shell Union Oil pf.. 6 Simmons Co... 13!3 Simms Petrol (1) 6'z Skelly Oil.... Skelly Oil pf ww. Sloss-Sheffield pt. .. Snider Packing. ... Socony-Vac (60c). . Sou Por RicoSug(2) M ~hu@ e - et Add 00. High. Low. Close. Chse, | High. 1% 11 23 Prev. 1935 Low. 1 4% T4 22% + % 144 1% 18% — % 13% — 14— % 17 26% ~ % 14% 19% 4% 5% l 3 32% 27% Stand Ol 47 112% 112% 54 5 5 13% 10% 4 25% 4319 643, 9% b 3 121 2% 23 Stand Of 13% 10% 58% Sterling 214 Stone & 9% 5% 21% 368, 25% 4% 1 4 16% ‘Tenne: ‘Texa: 15'% Texas & 3% Tex Pac 8'; Tex Pac 82 61 6 4% Timken-. T% Trans & 312 Truscon 44 Un Carb! 14% Un Ofl o 82 +140+ I+ 1 +++ 44141010 98 US D 29% Texas Gulf Sul (2) 28% IMmken R B (1).... 4% Transamerica (25¢) 1% Tri-Contl Corp..... FINANCIAL.' 2:30pm. Add 00. llm: !n' mou Chge. %).. 26 mk. Stock and Dividend Rate. 10% South Cal Ed 1 12% Southern Pacific. 7% Southern Railway. 10 Southern Rwy 61 Spang Chalf pf (j1) 3% Sparks-Withington. 33 Spencer Kellog 1.60 7% Sperry Corp (25¢).. 33% Spicer Mfg pf (3).. 43% Splegel-May-Stern. 14% Stand Brands (1)... 129 123 Stand Brands pf (7) 4 214 Stand Com Tobacco 1'% Stand Gas & Elec... 1% Stand G& E$4 pf. .. 6 Stand G & E $7 pf. of... 1 of Cal( 115% 111 Stand Oil Bxp pf(5) 1of Ind (1) 35% Stand O1l N J(11%) Prod (3.80) 6% Stewart-Warner. Webster. 215 Studebaker (new). 115% Sun Oil pt (6)... 1% Superior Oil. % Teloutograph 80c... PacRR... Coal & Oil.. Land Trust 15% Thatcher Mfg (a25c The Fair pf (38%).. 5% Thomp'n(JR) (50¢c) . 13% Thompson Products 7% Tide Wat Asso Oil. 24 Tide Wat A O pf(6) !04',.. 100 Tide Wat O1l pf (5). Detroft. West'n Air l. - % Steel. 37 37 — 1y 18 TwinCity RT p! 53% Und-Ell-Fisher (2), 1de&C 1.60.. f Cal (1) Un Pacific (6)... 79 Un Pacific pf (4) 20% Un Tank Car (1.2 97 United Alrcraf 4'; United Air L vty 21% United Bisc (1. ‘0 . 114 United Corp.. 20% United Corp p! 9% Cnited Drug. . 71% United Fruit (3).. . 9% United Gas Imp (1) 2% United Pce DW.... 15% United Pce D W pf. 4'z U S & For'n Secur. 2 & % comt Mo aitwanwe= T z +1 L ' U S Ind Aleohol (") 'N: U S Leather (A)... 3 U S Realty & Impr. 9% U S Rubber........ 24'%; U S Rubber 1st pf. . Smelt & R (16). 627 US Sm&R pf(3%). 2712 U S Stee! loeoese . 73% U S Steel pf (2) . 3% United Stores (A). 482 United S' 51 2 1 Utll Pwr 1+1 044+ tores pf... Univ Leaf Tob (2). 133% Univ Leaf T pf /8). 1 Univ Pipe & Rad... Univ Pipe & Rad pf. &Lt (A).. 13% Vanadium Corp.... 11% Van Raalte. ... 213 Va-Car Chemical 21 303 Wesson 72 Wesson 34 WestPa 36 WestPa 2 397 West Pa 95 West Pa 10415 West Pa 7's Western 2%, Western 20% Western 18 Westing! FAEL L4+ \ +1 32% Westingh'se Elec. .. 721; Va El & Pwr pf (6). 6312 Vulcan Detin (a4).. 117 114 Walgreen pf (6%) 14 Walworth Co 2!¢ Warner Bros Pic 14'; Warner Bros Pic p! 2!; Warren Bros. . ‘. 10s 10s 116 2 1 14 508 arren Fdy&P ( 0&St1k. O&S pf (4). Elec A (7). Elec pt (6) Elec pf (7) Pwpf (6). 20s 103': Pwrpt (7) 10s 1124 Md2dpt.. 1 Pacific pf. 1 3 Unfon.... 10 23 7 iR h'se AB 50c 3 21 3 280s 1708 2408 oy 10 Weston Elec Inst... 1 16% Westvaco Chl (40c) 4% Wilson & Coal2ise 58 Wilson & Co pt (6).. Woolworth (2.40)... 51 73% Wrigley 4 11:00 A.M. 1:00 P.M. Dividend declarations “ClA it of trading n 5 = b Pald 15% 123 23 1215 sanized m Plus {a stock Dividend Arrears Voted by American Smeltmg Board | By the Associated Press. day authorized a distribution of $4.50 on the second preferred stock, thus reducing the accumulated dividends !on the issue to $10.50 a share. usual quarterly dividend of $1.75 on| the first preferred stock. Both divi- dends are payable June 1 to stock of | record May 10. In January the company ordered a dividend of $3 on the second preferred on account of arrears. Possibility of a substantial refund- ing operation by the company was brought to light yesterday at the annual meeting when F. H. Brownell, chairman, announced a call for a spe- cial meeting of stockholders May 21 to act on a proposal to cut the par value of common stock. Approval by stockholders would re- duce stated value of common from $33.33 to $10 a share, an action which would permit a write-down of $42,- 698,000 in intangible values in prop- erty accounts. New York Cotton By the Associated Press. NEW YORK, April 3.—Trade buy- ing brought the cotton market out of an early decline today. Tired liqui- dation of contracts depressed prices 5 to 10 points during the forenoon. The midafternoon market was steady, with old-crop positions un- changed to 4 points higher. In the later positions prices were 4 to 10 points net higher. Liverpool Quotations. LIVERPOOL, April 3 (®.—Cotton. 1,000 bales, including "4}0 Amem:nn Spot_ in- creased in demand: pri Doints lower. Quotations in, pence: Afmerican strict good dling. 6.92: good middling, 6.62: strict gtrict Tow good ordinll‘! 54‘.‘ May July. : Janu- middling’ Tood ordinary. 53: Putures closed, sten dy. gy Dec 2ry. 571+ March. 5. METAL MARKET. YORK. April 3 () —Copper quiet: electroiyte, spot and futire. Blie Easie. Lou! spot and future. ork., Zinc d\lll‘ Louis. 19.00a22.00. Anti- Imlm mnny BWI; 14.50. it e Motor Products Corp.—First-quar- ter profit is expected to exceed 41 cents a share earned in like 1934 period. « NEW YORK, April 3.—American | Smelting & Refining Co. directors to- | The company also declared the| HUPP CHIEFS FAIL TOATTEND PARLEY | Exchange Committee Called | After Conference Bid Goes Unheeded. | By the Associated Press. NEW YORK, April 3.—Inquiry at the New York Stock Exchange today | | | disclosed that the scheduled confer- ence between the exchange’s Comit- tee on Stock List and representatives |of the Hupp Motor-car Corp. did not | materialize. The Teason, it was said, was that the Hupp interests failed to | appear. The Stock List Committee had re- quested the meeting to inquire into activities of certain of the Hupp di- rectors. Board last week the excliange inti- mated that it might become neces- sary to suspend trading in the com- pany’s shares. The action of the exchange came as a sequel to the internal dispute in the Hupp management, which finally was taken into the courts in Detroit. On the application of J. W. Drake, former chairman of the Hupp com- pany, the Federal Court issued a tem- porary order restraining A. M. An- drews, present chairman of the board, and five other directors, from effecting certain contracts for stock options and salary and commissions for An- drews. The conference between the Stock Exchange and Hupp representatives was originally set for last Monday, but was put off until today, owing to the court litigation. At the exchange it was said that the Stock List Committee had re- quested a special meeting of the Gov- erning Committee for consideration of the entire affair. -— RAILROAD CREDIT CORP. RETURNS 30 PER CENT By the Assoclated Press. NEW YORK, April 3.— Through liquidating distributions since termi- nation of its lending period on June 1, 1933, the Railroad Credit Corp. has returned $22,079,735, or 30 per cent of the net emergency freight revenues collected by it, according to a report filed with the Interstate Commerce Commission. Of the total amount re- turned $9,793,916 was in cash and $12,285,819 in credits on obligations | due the corporation. \ { 3 Zonite Products.... Sales of Stocks on the New York Exchange. stock. x Bx-dldlv!}& 3 116 (Wir)t3%. P —— 2% Yellow Truck. 341; Yellow Truck p! 13 Youngstown S&' 14 UM%+ % | 3 35 3 M-k 170,000 360,000 12:00 Noon 2:00 P.M. given in the above 310,000 410.000 e the annua! ral cash payments hlled on the latest mnurly vr half-yearly less than 100 shares. [ fPartly extra. iPius last_year—no ate b Payabie 1n b P10, 81 b *pecial preferred ¥ 3 Accumuisted H Tegeivership or being reor- o Plus 8 stock. D Plus 2% Chicago Grain By the Associated Press. CHICAGO. April 3.—Corn rose about 21, cents a bushel today to the high- | est price level since March 6. Belief prevalent that a tight mar- keting situation might develop in re- gard to fulfillment of May delivery! contracts for corn was largely respon- sible for broadening of speculative dealings in corn, with aggressive buy- ing in evidence much of the time. Owing to the profitable feeding ratio between hog and corn prices, con-| sumer use of corn is reported to be Iaxrly liberal in comparison with the | amount of corn available. Corn closed strong, 13g-2'z cents above yesterday's finish, May 831;-%s; wheat 3g-3% up, May 95'g-; oats 5-75 advanced, and provisions vary- ing from 5 cents decline to a rise of 12 cents. . High. Low. D415 : In a telegram to the Hupp |36 16.40 1645 Chicago Cash Market. Wheat, No. 2 red, 96; No. 3, hard, 973%: No. 2, dark, hard, 1.03. Corn, old, No. 2, mixed, 86%; No. 2, yello 873%: new, No. 3, mixed, 8312a84%; No. 3, yellow, 86. Oats, No. 2, white, 5215a53. No rye. Barley, 68a1.20. Timothy seed, 16.80a18.50 hundred- weight. Clover seed, 15.50a19.00 hun- dredweight. Liverpool Grain Prices. LIVERPOOL Avril 3 (P.—Wheat fu- tures closed fi High. Low. Olose. Cl May . i | i i July Ortobe; Exchal PHILCO SALES CLIMB WELL ABOVE YEAR AGO 8pecial Dispatch to The Star. PHILADELPHIA, April 3.—The Philco Radio & Television Corp. r:- leased figures of production for first mumr 324.111 Philco ndlu sold in the first quarter of 1935. is 28 per cent above 1934, the previous first quarter. This represents 2.949 778 hours of factory work—39 per cent more than 1934. Thehmary pay roll in the first three months of 1935 was ll 976,883 — 50 per cent greater than 1 “|and American Telephone STOCKS REGISTER MODERATE DECLINE Losses of Minor Fractions to ®point Scattered Through- out List. BY VICTOR EUBANK, Associated Press Financial Writer. NEW YORK, April 3.—At the be- ginning of the final hour of trading the stock market continued along the reactionary lines patterned in early dealings today. Although the general run of shares stiffened somewhat during the early part of the afternoon, losses ranging from minor fractions to a point were well scattered among leaders, includ- ing United States Steel, Chrysler, Con- solidated Gas, J. I. Case. Du Pont United States Smelting retrieved about half of its early decline, but Coca-Cola ex- tended its loss to more than 3 points. The late tone was easy. Sales aggre- gated 530,000 shares. Leading commodities lent encour- agement to the indifferent attitude of stocks. Cotton slipped a trifle and principal grains were about a stand- » | off with the exception of corn, which | worked a shade higher in early deal- ings on reports of a better shipping | demand. The corporate bond market { was fairly steady. but United States Governments tilted backward. Foreign | exchanges held about even in spot rates, but forward commitments re- flected the uncertain outlook for the | remaining members of the gold bloc. Continuance of the uncertain atti- tude of followers of the smelting shares was mirrored in another drop | of nearly 3 points in U. S. Smelting, although the retreat was made again in the face of only a small amount of stock. Other mining issues suffered less drastically, but a number of key industrials vielded a point or more including Du Pont, Bethlehem Stee American Tobacco and J. I Ca | Coca Cola encountered trouble aft | its recent run-up te above 200 au- slipped back more lhan 2 points. INSURANCE STOCKS NEW YORK. April i .—New Y ity Deal Association reat Am | Halifax (101 | Hanover (1.60/ | Hartford Fire (2 Home Fire Sec Home Ins (1.0 Lincoln Fire . Mass Bond Sinciudine red ‘or paid 50 far this vear. Decla 1 = Atlantic Coast Line Railroad—A $6,500,000 bank loan of company was extended for six months at 4 per cent | former rate of interes ENTERPRISE SERIAL BUILDING ASSOCIATION 7th St. and Ind. Ave. N.W. LOANS Made on Improved District of Columbia Real Estate Security 74th Series of stock now open for subscription We buy, sell and quote 1st Trust Notes on local properties of all issue:s C. B. Pennebaker Company, Inc. Southern Blds. ‘Washington. D. C. 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