Evening Star Newspaper, April 6, 1935, Page 14

FINANCIAL CAPITAL TRANSIT EARNINGS SLUMP February Net Income Cut to $38,891—Sharp Gain in Traffic Noted. BY EDWARD C. STONE. Net earnings of the Capital Transit Co. in February totaled $38,891.26 as compared with $75,502.45 in February a year ago, a decrease of $36,611.19 or 48 per cent, according to the monthly financial statement filed with the Public Utilities Commission today. A breakdown of the figures shows operating rTevenues of $687,130.68 against $629,313.85, an increase of | $57,816.83 over the same month last | year. In spite of this increase in operating revenues of more than 9 per cent, operating expenses mounted still faster, standing at $501,410.47 as compared with $419,228.72, an ad- vance of $81.181.75 or 19 per cent. Taxes also were ‘higher, being $53,787.88 in comparison with $43.- 209.88 last year.an increase of $10.578, | or about one-fourth. The ‘s-ansit| company took out $50.590.26 for dc«i preciation against $48.984.44 in Feb- | ruary. 1934, a difference of $1.60582, | and leaving a total for opereating expenses, taxes and depreciation of $605,788.61. comparede with $511,- 42304, a jump of $94,365.57, which reveals an advance in operating costs of more than 18 per cent. The officials note in the report that they do not consider the monthly de- preciation figure of more than $50,- 000 as sufficient and have asked the | commission for a hearing on this point. The above reductions left an | operating income in Februar of | $81.342.07 compared with $11 | & year ago. a difference of $31.548.74. Non-operating income was slightly lower this year, bringing gross a little below operating net. Interest deduc- tions from gross called for $54,874.30. Total street car and bus travel during February made a remarkable record, the various lines carrying 15,388,131 passengers in comparison | with 12.831.688 a vear ago. This is an increase of 2,556,443 in total pas- sengers, or almost 20 per cent. Traffic Soars in Two Months. 1 90.81 | Capital Transit also filed a sum- | mary of earnings for the first two | months of the present year. Total | passengers carried during the period | numbered 31.997.301. as compared | with 26,413,824 in January and Feb- | ruary last vear, an improvement of 6.583.477 or 21 per cent | Operating revenues reached the sum | of $1,440,47 against $1,295,682.97 last year, a substantial gain of $144,- 789.20. However, a crimp was put in this advance of 11 per cent by a 24 per cent boost in operating expenses, taxes and depreciation, the total standing at $1,280,386.22, as compared with $1,026.269.21, a bound upward | of $254,117.01. These operating costs left a net Income from operations of $160,085.95 | against $269.413.76 a year ago. a slump of $109,327.81. Non-operating in- come was up $794.63, adding that much to gross from which deductions ‘were made of $113.029.34 against $113,- 351.02 last year, leaving a net income for the two months of $74,215.21 in comparison with $182,426.71 a year ago. a decrease of $108.211.50, or a 21 per cent dip. These net earnings are a sweeping reversal of income before the street car merger went into effect. As pre- viously noted, the increased costs are due to wage increases, pay roll ex- pansion, higher cost of power due to | fuel advances and a jump in the amount of power used, as well as larger outlays for equipment. While the smaller profits may cause a good deal of surprise among the stock- holders, net revenues are ample to keep up the frequently heard discus- sions over dividends and the specula- tion as to the amounts and dates of payment. Bankers Study Court Rulings. ‘The Supreme Court's latest rulings on banking matters have proved of unusual interest in the financial dis- trict, most of the cases being an aftermath of legal restraints since the banking holiday of 1933. One of the most important recent | decisions by the Court gave the New York State superintendent of banks the right to enter New Jersey and sue stockholders of the closed Bank of the United States to meet the deficiency between assets and lia- bilities of the institution in order to meet its depositors’ claims. The New Jersey statute barring such action was ruled unconstitutional. Another decision involved the ques- tion whether minority creditors of a bank can bar reorganization of the institution, under State laws. The court held in the case of the People’s Bank & Trust Co. of Tupelo, Miss. that in the “freezing of deposits” in| connection with reorganization, all that the Mississippi statute did was to change the method of liquidation. The court said that collections in the in- terest of creditors of the bank are made more promptly and readily by & going concern than by one in liqui- dation. ‘The Arkansas law extending the time in which delinquent property owners may be required to pay up on district improvement bonds in de- fault, was invalidated by the court, which held that the law involves “a postponement for a term of many years with undisturbed possession for the debtor and without a dollar for the creditor.” Further, the court held, “there is not even a requirement that the debtor shall satisfy the court of his inability to pay.” Assets held by an insurance com- pany against matured and unpaid coupons attached to 20-payment life coupon non-participating policies do not constitute reserves within the meaning of the revenue act of 1921, the court held in a‘ decision involv- ing the Inter-Mountain Life Insur- ance Co. This decision was held to be of importance to the companies handling this type of insurance. Heard in Financial District. Capital Traction 5s, which reached par this week for the first time in many years, were down to 37! in 1932. The street car merger gave them a needed boost, the sweeping upturn in earnings helped. Perhaps the greatest factor in the advance has been the almost unlimited de- mand for securities which yield 5 per cent in the face of less than 3 per cent for many Government issues. While the Chesapeake & Potomac ‘Telephone March report is not yet available, the whole Bell System had & net gain of 44,900 stations in March, as compared with a gain of 51,600 in the same month last year. The New York Telephone Co. made a particu- larly good gain. R. B. Marchant, chairman of the Bondholders’ Protective Committee of the Virginia Alberene Corp., an- nounced that the plan of reorgani- zation under section 77B of the bank- ruptcy act had been confirmed by the United States District Court, ‘Western District of Virginia. Prev. Hich 130% 8 1234 20% 29 6% 8!: 'm 814 49% K 60% 22% 14 17% 12% 23% 1035 Stock and Low Dividend 4'4 Adams Expi 8 Addressograph. 104% Afr Reduction (3).. % Air-Way Elec Appl. 15% Alaska Jun (11.20), % Alleg Corp (k). Allegheny Stl (1 Allied Chem (6) Allis-Chalmers Alpha Port Cmt (1) 215 Amal Leather. 5 4815 Amerada Corp (2).. 42 Am Ag Chem Del/2) 131 Am Bank Note. 110 AmCan (t6)......., 10 Am Car & Foundry, 8 AmiCHaIRS 2 s 2215 Am Comel Alcohol. 612 Am Crystal Sugar. . 57% Am Crystal Sug pf. 115 Am Ensaustic . 2% Am European Sec. .. Am & Foreizn Pwr. Am Hawaitan SS(1) Am Hide & Leather, Am Home P (2.40), 4'3 Am International. Am Locomotiv Am Locomotive pf. . 1815 Am Mch & v (80c) 4%« Am Mach & Metal 1313 Am Metals. .. .. Metals p! Am Power & Lig! Am P&L $5 pf (1 Am P&L $6 pf (135) : Am Radlator...... * Am Rolling Mills. .. Am Shipbldg (2) Am Smelt & Ref Am S&R 6% pf jT15, Am Stee: Foundry. ., Am Sug (2)... m Sugar pf (1) Am Tel & Tel (9)... Am Tobacco (5) . Am Tobacco B (5).. Am Type Fdrs (k). Am Type Fdrs pf (k Am Wat Wks (80¢) . Am Wat W Ist (6).. Am Woolen. . : Am Woolenpf...., Am Writ Paper (k). ne & Lead Anaconda Copper. .. Anaconda Wir Anchor Cap (60c) Archer-Dan M t1%., Archer-Dan pf (7). Armour Del pf (7)., Armour of 1ilinots. Armour 111 pr pf (6) Arnold Constable. ., t. %) Atch To&S F (h2).. Atch To&S F pf (5). Atlantic Coast Line. Atlantic Ref (1) Atlas Powder (2)... Auburn Auto Bang & Aroos Bang & Aroos r\f”) Batker Hrothers. Barnsdall Corp ... Beatrice Cre(a50c).. Bendix Aviation. ... Beneficial Loan 1 Best & Co (2) « Bethienem Ste + Bizelow-San Corp.. Blaw-Knox . Boeing Airplane Bohn Alum&Br (3). Bon Am1 (A)(15). Borden Co (1.60). Borg Warner (1%4). Boston & Maine. ... Briggs Mfg (2). « Briggs & Strat (3).. Bklyn-Man Tr (3). Eklyn-Man T ot (6) Bklyn Unton Gas(§) Brunswick-Balke. . Bueyrus Erie cv pf, Budd (E G) Mfg Budd (EG) Mfg pf sudd Wheel . . Bullard Co Burr Add M (60¢) Bush Tr Bidg pf ct. 11% Byers (A M) ... 13 Callahan Zinc. . 2'; Calumet & Heela 8% Can Dry G A (40c). 93, Canadian Pacific "- Cannon Mills (2). 'ap Admin pt A !!) ¢..-‘ Case (J 1) Co 361, Caterpiliar Trae(1) 195, Celanese Corp 111 Celotex Co pf (k).. 221 Cent Aguire (1%4).., 383, Cerro de Pasco (2). Ches & Oh'o (2 80). % Chi Gt Westn (K).. W ChiMIStP&F .. % Chi Mil St P & P pf. 28 Chi & Northwestrn. 41 Chi & Northwest of. 4% Chi Pneumatic Tool 20 Cht Pneu Tool pt. 1 ChiR1&P (k). 313 Childs Co. .. 31 Chrysler Corp 20 City lce & Fuel (2). 87 City lece& Fpf 6%.. 15 City Stores (K)..... 1617 Coca-Cola (8). 55'3 Coca-Cola (A) 1(3). 16! Colgate-P-P (50¢c) 101 Coiz-P-P pf (8). 4 Collins & Aikman. . 69% Collins & Aik pf (7) 6% Colonial Beacon Ol 13 Colo Fue: & ron (k) Colo Fuei & It pt(k) 10*‘ Colo & South... “ Col Gas & Elec 512Col G & £ pf A (6) 3473 Colum Pie vie (m1) 67 Columb Carbon (4). 391; Comel Credit (2)... 5215 Comel Credit(A)(3) 1097 Comel C Ist pf(8%) 29'; Comel Cred (BY(2). 174 Comel Solv (t85¢). 1, Comw & Southn... 291 Comw & Sou pt (3)., 27 Congoleum-N(1 60) 23% Conn Ry & Lt (4%) 44 Conn Ry&Ltpf 433. 7 Consol (1 4% Consol Fiim: 15% Consol Film pf (32). 15% Consol Gas N ¥ (1). T2 Consol Gas pf (6). 61z Consol U1l (h42e)... 21, Consol R R Cuba pf 13 Consol lextile 9% Container Corp (A). 3% Container Corp (B). % Contl Baking (B) .. 46 Contl Baking pf (4) 62% Contl Can 12 40) .. 7 Contl Dia F (albe). 15% Cont O(Del)al2%e. 41% Corn Ex BK&TT (3) 62 Corn Prod Ref (3) 4% Coty Irie. . . 357 Cream of Wht 1213 Crosley Radlo. . 3153 Crown-Zellerback 14 Crucible Steel. . 1 CubaCo... . 5% Cuban-Am Hull!‘ 40% Cuban-Am Sugar pf 15 Curtis Publishing.. 89% Curtis Pub pf (7). 2 Curtiss Wright. 61 Curtiss Wright (A). 16 Cutler Hammer. ... 2%, Deere & CO....... 19 Deere&(‘o pf ‘flflel. 4% Delaware & Hudson 11 Del Lack & West. .. 26'2 Diamona M (11%). 34%Diamond M pf (1%) 34'» Dome Mines (2) 813 Dominion Strs(1.20) 17% Douglas Aireraft... 3 Dunnill Internatl. . R6% Du Pont de N (2.60) 1267 Du Pont deb (6) ... 3% Eastern Roll Mills, 110 Kastman Kod (6)... 16% Eaton Mfg (1).. 19% Electric Auto Lite.. 3% Electric Boat. . 6% Elec & Mus Ind 1'% Elec Pwr & Light., 215 Elec Pwr&Lt $6 of.. 3 Elec Pwr&Lt §7 pf. 39 Elec Stor Bat (2%), % Elk Horn Coal (K).. 52% Endicott-John (3).. 15' Eng Pub Sve $6 pf.. 71 Erte R R 8'% firte R R 18t pf 1045 Eureka Vac Cligo) 16% Evans Auto (a76¢). » Sales— Add 00. » LT T EOE LU R S PP 3 91y 1301 130% 130t — THE EVEN Net, Bl low Close. Chse. N R Prev High. 5 +++1 4 2% 24 91 I+ 4 44+ + FEFEIES & ESFEF FEFTSFEFESFREL FIE FEEFFE 10414 4% 6% 3, 1214 “ S 1 36 I+44++ + +4 44144444 57 T 73 B, 1015 19 2% 13% B 184 18% 22 | 112 28% 31 8% 27 121 11's 323 10945 24'3 i+l $ 3 13 21y 36k 129 21% 1% 144 4T% 18% 0 EEESE FEFF FE L 5 122% mu 2% 17% 17% — 21% + ‘/n 4% 5 1247 18 21% A% Net change . ‘Today, close . Previous day Month ago Year ago .... 1935 1935 1934 1934 1932 1929 1927 5 5 149 NG STAR, WASHINGTO STOCK AVERAGES Compiled by the Associated Pr 30 Indust. Rails. +.3 52.2 519 51.9 578 56.6 49.5 614 453 175 1469 51.6 high . low . high 1035 Stock and Low Dividend Rate. 3 Exchange Buffet % Fairbanks Co. . 17 Fairbanks-Mor: 711 Fairbanks-Mrs pf. 5% Fed Lt & Trac..... 48 Fed Lt& Tr pf (6) 3% Fed Motor Truck... % Fed Water Sve (A). 164 Fed'd D Steres (11) 28% Fid Ph F Ins(11.85) 13Y Firestone (40c).... 46 First Nat Strs(2%) 2% Follansbee Bros (k) 20% Food Mach (1) 974 KFoster- W heeler . 4% Foundation Co 19% Fourth Nat In h85e. 6% Fox Fiim (A)...... 17% Freeport-Texas (1) 4% Fuller Co 2d pf 7 Gamewell Co. .. 325% Gen Am Trans(1%) 11% Gen Asphait....... 7% Gen Baking (60¢). 5% Gen Bronze. 4 Gen Cable ( 50 Gen Cigar (17)... 20'3 Gen Electric (60e). 11 Gen Elec spee ($0¢) 321 Gen Foods (1.80). .. % Gen Gas & El (A).. 10 Gen G&E 6%cv pf A 11 GenG&ET% pfA.. 15% Gen GRE 8% x-[A.. H9TxGen Mills (3). 2613 Gen Motors (1).... 107! Gen Motors pf (5) 17% Gen Print Ink 1.20.., % Gen Realty & Util 162 Gen Refractories. 16'% Gen Refrac ctfs. 12 Gillett Saf Kaz (1).. 7015 Gillett Saf R of(5). 18 Gimbel Bros pf. 23% Glidden Co «11.30) 22 Gobel (Adolf).. 14°x Gold Dust (1.20) 73 Goodrich (B F). 15% Goodyear T & R.. 213 Gotham Silk Hos 20 Gotham Silk H pf. 1'; Graham-Paige . 5'4 Granby Consol Grand Union.. 17 Grand Union pf 1%5. 9% Great Northern pf. . 9% Great Nor Ore (bUc) 26% Grt West Sug (240) 119 Grt West Sug pf(7) 1 Guantanamo Sugar. le & N pt 314 Hahn Dept Store: Hall W F Printing. Hamilton Watch pf Hanna (M A)pf(7). Harb Walker (1)... Hazel Atias Gl (5).. ' Hershey Choc «3 104 Hershey C p1 (15) 5% Holland Furnace 613 Houdaille-Hersh B. 9ix Houston Oil... ... 133 Houston Oil (new).y 43 Howe Sound (3)...3 2% Hudson & Manhat 6% Hudson Motor » Hupp Motors 63 915 Lllinots Central. . 24% Indus Rayon (1.68). 60’ Ingersoll-Rand (2). 46l Inland Steel (1).... 213 Inspiration Copper. 4 Insur Shct Md l4e.. 1% Intercont! Rubber 4'¢ Interlake iron 2% Int Agriculture Int Bus Mach (p int-Carriers Ltd 200 Int Cemeat (1).... 34'x Int Harvester (60c) 1% Int Hydro Elec (A). 22% Int Nick Can (60c). . 125 Int Nick Can pf (7). 14 Int Paper & Pw (A) S Int Paper & Pw (B) 13 Int Paper & Pw (C) 4l Int Paper & Pw pf 4% Int Shoe (2). 5% Int Tel & Tel 9 Interstate Dept Strs 2915 Island Creek C (2). 49 Jewel Tea (3). 3814 Johns-Manvil 11743 Johns-Manv pf (1), 50 Jones&Laugh 7%pf. 3% Kans City Southern 712 Kaufm'n D S(a40c) 15% Kayser(J & Co bue. Kelly-Spring T (k). 6% Kelly-Sp Tire 6% pf 3% Kelsey-Hayes (8). 14% Kelvinator (170¢).. 13% Kennecott C (60¢) 194 Kresge (S S )t1) 106'; Kresge (S S)pf(7 231, Kroger Gr&Bk 1.60 19% Lacleds Gas pt 24 Lambert Co 3). 1'4 Lehtgh Valley Coal 612 Lehigh Vai Coal pf. 5 Lenigh Valiey R R. 2113 Lib-O-Ford G1(1.20) 9% Lige & Mvers B(15) 13!; Lima Locomotive. .. 24'3 Liquid Carb 1113). 31% Loew's Inc (3) 1 Loftinc.. 1% Long Bell Lum ( 331 Loose-Wiles (2)... 126 Loose-Wiles pf (7). 181 Loriliard P (12.20). % Louisiana Oil... 10% Loutsv GEE(A)1%. 34 Louisv & Nash (3). 12% Ludlum Stee 113 MacAna & F pf (6). % McCrory Strs A (k) 62 McCrory Strs B (k) 36% Mcintyre Porcu (2) 9014 McKeesport T P (4) 6% McKesson & Rob. .. 37 McKesson & Rob pf 814 McLellan Stores (k) 3015 Macy (R H)& Co(2) 18% Magma Copper (2). 4 Manati Sugar pf (k) 5% Marine Midld (40c) 20 Marlin-Rockwell (2 6% Marshall Field. . 23% Mathieson Amlu) 357 May Dept Str ( 513 Maytag Co . 33 Mavtag pf ww DE: 41 Melville Shoe(+21) 2414 Mesta Mach (1%) . 27 M-G-M Pic pf (1.89) 214 Miami Copper .. 915 Mid-Cont Pet(h50c) 8% Midland Stee) Prod. 3% Minn Moline Pow. . % Minn & St L (k) .. 1% MStP&SSMis 2% Mo Kan & Texa 6 Mo Kan & Texas pf. 1% Mo Pacific (K)...... 113 Mo Pacifis pt (K)... 10% Mohawk C M (h2be) 556 Monsanto C (1) 21% Montgomery Ward. 57 Morrell(J)&Co 3.60. % Mother Lode 17% Motor Product: Tt Motor Wheel 7 Mullins M1g.. 86% Mullins Mfz of.... 4% Murray Corp 30 Myer(FE)&Co 160 — 6% 2% T 8 6% 2% 19% 11 Nash Motors (1) %| T 4% Nat AcmeCo.. 1| 30% 224 Nat Biscuit 2).... -y K 146 141% Nat Biscuit pf (7). 18% 1315 Nat Cesh keg A 608 17% 12% Nat Dairv Prod 1.20 4% 1% Nat Dept Store (k). 34% 17 Nat Dep St ist pf(k) 29% 24% Nat Distillers (2) 8% 4% Nat Pwr & Lt +80¢) 503% 40% Nat Steel (11%)wme A 15 15 Util. +.3 Unch. 206 203 19.4 38.9 276 Bales— Add 00. 40+ 108 80n 25.7 25.7 2268 35.3 26.6 21.6 40.6 242 239 184.3 61.8 60 Stocks. +.2 317 315 36.4 474 416 348 514 349 16.9 157.7 61.8 Net. . Close. Chge. 3+ W 1 23% + 4% 90 3 60 + o 2 3 B A R S A F& §F F& FEFS & PIrEFE * | of cotton on shipboard awaiting clear- rEEF & FEE F FFFPEFIEEFESS SATURDAY, APRIL 6, 19 TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE By private wire direct to The Star. Prev. 1035 Stock and High. Low. Dividend Ra 14% 9 Nat Supply Co 47% 36 Nat Supply pf 21% 12\4 N ¥ Central R % % NY Investors (K).. 815 14% 6 Bales— 308 208 25 9 62 3 70 N Y Steam pf (§).. 90 N Y Steam 1st (7).. 30% Noranda M) (h2) 2 North Am Aviation. 9 North AmCo (1)... 3515 North Am Co pf (3) 57 North Am Ed pf (6) 134 Northern Pacifie. .. 1% Norwalk Tire&Rub. 10% 9% Ohlo Of1 (h4Se).... 4% 1% Oliver Farm Equip. 26% 1% Oliver FprofA... 15% 11 Otis Elevator (60e). T% 4% Otis Steer . 184y 25% 13% Pacific G& E (1%). 19 Pacific Ltg (2.40)... ‘l Pac W’n Oil th40e). 4 Packard Motor..... 2% Par-Publix etfs (k) 2% Park Utah . Pathe Exchange(A) 8% Patino Mines . 1% Peerless Motor 6415 Penick & Ford (3). 57% Penney (J C) (). 3 Penn Dixie Cement. 174 Penn RR (1)...... 30 Peoples Drug S (1). 17% Peoples Gas Chi. 21« Peoria & Eastern % Patrol Corp th50c). 12% Phelps Dodge(h76c) 23 _Phila Co $6 pf (3) .. 1% Phila& Read C& I, 35Y% Philip Morris (1)... 13% Phillips Petrol (1). % Plerce-Arrow (k). % Plerce Ol . % Plerce Petroleum. 513 Pitts Screw & Bolt, 241 Pitts United C pf 615 Plymouth Ofl (1)... 814 Postal Tel & Ca pf., 42% Proc & Gamb (1%), 115 Proc & Gam pf (5).. 20% Pub Serv N J (2 80) 625, Pub Serv N J pf (5) 74 Pub Sve NJ of «6). 99 Pub Sve E&G pf(5). 41% Puliman inc ¢ 5% Pure Ol . &% Purity Bakeries (1) [ 1 9 37% 8% 165 498 1201, 27% TR, 90 105 52% ™ 107 Radio Corporation RadloCorppf A 3% Radio Corp pf (B). . Radio-Keith-Or (k) R R Sec 11l Ceat. .. Ravhestos-Man ‘1). 2+ Reading 1st pf (2) Real Silk Hosiery. Remington-Rand. Reo Motor Car.. Republic Steel. Repubnc Steel pf. olds Teb R (3) nd R R pf.... 46 37\ Safeway Stores(3) 3 11274110 Safeway Strs pf (7) 240s 175 104 St Josern Ld «40e). 10 2 1 StLSanFran k.. St L San Fr pf (k). 3 Savage Arms.. .. 1 Schenley Dist 7 Schulite Ret Schuite Re St cott Paper ( : eanoard Air L (k). Seab’d Oil(Del)(t1) Sears Roeb’k (Tie). Sec Nat Inv pt (J2). Serveiine .. . Shattuck: F G)"Sc. Shell Unton Ofi. ... Simmons Co. . ... Simms Petrol (1)... Skelly 011 Skelly Oil pf ww... Sloss-Sheftield pf. . 15% Snider Packing.... 11 Soconv-Vac (60c).. 20 Sou Por RicoSug(2) 10% South Cal Ed 114). 12% Southern Pacific .. T Southern Ratlway. Southern Rwy pf Spans Chalf pf (51) Sparks-Withington Spencer Kellog 1 60 7' Sperry Corp (2be). 81, Sprcer Mfg Spiecel-Mav-Stern. Stand Brands (1) Stand Com Tobacco Stand Gas & Elec... Stand G & E$4 pf. .. Stand G&E $6 pf StandG& ES$7pf.. Stand Oil of Cal(1), Stand Oil Exp pf(5) Stand Oil of Ind (1) Stand Ol N J(11%) !llh Low. Close. Ohl' 43% 15% ) 4% Prev. 1035 High 15% Ly 11 43y 14% % 1% + % 4315 +3% 15% + % % + % + % + B +1% 4% 8 3% 8l Th% 90 35% 2% + 4 + % +1 ¥ 1 4+ EE FRE FF FF & Ed ot EE R 11 47 ~ 1177% 2614 79 901 1071 1071 PEIN 612 [ ++4100 | casn | deciarations “re stock tock dividenas 39% 3 121 21% 145 274 100 8113 5 21 447 33 21 21 Stock and Low. Dividend Rate 1214 Starrett (L 8) a2be. 581, Sterling Prod ¢3.80) 9% 6% Stewart-Warner... 5 21; Stone & Webster. 21 Studebaker 1nov).. 115' Sun O1l pf (6). 1% Superior O 2% 4 1% Symington (A) (k). 2% —_— 21% 368, 16 Texas Corp (1).... 28% Texas Gulf Sul (2). 34 Tex Pac Coal & Oil. 815 Tex Pac Land Trust 15% Thatcher Mfg (a2be 5% The Fair...... 16 Third Nat Inv h85 13% Thompsor. Products 1% Thompson Starrett. 7% Tide Wat Asso Of 84 Tide Wat A O pf( 4% Timken-Detroft 28% MMmken R B (1) 4% Transamerica ( 1% Tri-Contl Corp 4' Truax-Tra Coal ... 34 TwinCity RT. 18 TwinCity RT pf 4 34 Un Bag & Paper (4) 44 UnCarbide&C1.60. 14% UnOil of Cal (1)... 4 Un Pacific (6)...... 79'3 Un Pacific pf (4)... 207 Un Tank Car (1.20) 97 United Alrcraft.... 4'5 United Afr L vte. ... 21% United Bisc (1.60).. 1'3 United Corp. ... 208, United Corp pf. 91, United Drug. . 3% United Elec Coal. 71% United Fruit (3). 9% United Gas Imp (1) 87'; United Gas | pf (5) 2% United Pce DW .. 5% United Pce D W pf 615 U S Distributing pt 413 U S & For'n Secur.. 11 US Freight (1).... 40% U S Gypsum (1), 5 USHoffman..... 35% U S Ind Aleohol (2) 34 US Leather. Ti3 US Leather (A). 14% U 8 Pipe & F (50¢). 4 US Realty & Impr. ubber .. . uhber 1st pf 2713 U S Steel .. 73% U S Steel pf (2) 2’3 United Stores ( 51 Univ Leaf Tob (2). 14 Univ Pipe & Rad... 12 Univ Pipe & Rad pt 24 1 Util Pwr& Lt (A).. 14 1 Vadsco Sales Corp. 13 Vansdium Corpy... 11% Van Raalte........ 18 Va-Car Chem 6% pf & Va-Car Chem 7% pf 72'3 Va El & Pwr pf «6). 2 Vulean Detin (a4). Wabash (k) Walzreen Co (1 rner Bros Pic . Warner Pros Pic pf Warner-Quinlan. ., Warren Bros Warren Bros cv pf. 2 Wesson O & S 113 West Pa Elec'A (1) West Pa klec pt (6) West Pa Elec pf (7) West Pa Pw pf (§). West Pa Pwr pf (7) Western Marviand. Western Md 2d pf.. Western Pacific. ... Western Pacific pf. Western Unton .. WestinghSe AB 60c Westinzh se Elac Westh'se 1st pt Weston Elec A (2) Westvaco Chi (40¢) Wheeling Steel. . . White Motor White Sewing Mch. Wilcox 01l & Gas Wilson & Coa12%, Wilson & Co pf (6). Woolworth (2 40) . 11% Worthington Pump 5'2 Worth Pump f A.. 20 Worth Pumppf B.. 4% 2% Yellow Trick 18 YoungSp& W vl‘ 13 Youngstown S&'1 Zonite Products 250,000 Dayments based on . in etoc “ Favan! 1 cash or stock. e Plus 4% 1in sioek m Blus 8% in x Ex-didiven Divicend rates as civen in the above tabie are the iatest Unit of traging less than 100 snares 0 rezuial rate & Falc this year k Companies reported in receivership or Being reor- n stock 0 Plus 3% in stock FINANCI1AL. Bales— Add 00. High. Low. Close. th' 134 134w 630n 8% - 4 2% 118Y 2% 4 s 19% 30 Y% 3% 1% 161 1719 14% 2 '1 “ R4 8R15 5% 110 un oun 460,000 the annua: half-yeariy TPartiy extra uarterly or 1p1uy b Fayable in 1 Plus €1 in <ecini preterreg ) Accumuiated © Plus 29 |Auto Production | By the Associated Press. NEW YORK, April 6—Cotton fu- tures opened steady, 2 higher to 1 lower, with trade buying of near| months and foreign selling of the ! late positions. May, 10.90: July, 10.97; October, 10.60; December, 10.66; | January, 10.67; March, 10.72. | Passage of the work-relief bill, in- cluding the George amendment au- thorizing the use of relief funds in financing the cost of administering the agricultural adjustment act had been anticipated and had little effect | on the market. Trading continued quiet after the call with the tone | steady. There was _considerable switching from May to later months. Liverpool cables reported a feature- less market except for some trade calling in near months. The amount ance at the end of the week was esti- | mated at 75,000 bales against 80,209 | last year. | According to the National Fertilizer | Association, fertilizer tag sales for the 12 Southern States for March showed an increase of 15 per cent over last year. | Futures closed very steady. 7 higher. Msay to 11 Low. Spot. steld!: mldflhnl 11.30. NEW YDRK BAR SILVER. NEW YORK, April 6 lk’).—Bnr sil- ver firm, ','z higher at 6214 INVESTMENT TRUSTS s NEW ‘l;?nlx AAI:HI lfl“drv —New York ecurity alers’ sociation Bid, _Asked. Admin Fund w w. Am Bankstocks . ‘Am Business Shrs . Bullock Pund 5 I Sh 5 Corporate Trust A A" Corp Tr A A mod Corporate Trust Accum Ser Corp Tr Accum Ser mod Devos Bk sh N pos Ins Shrs Diversifica_Tr'¢ . Dividend Shrs Five Year Fived Tr s A { Pund Tr Shrs B Incorp Investors Inv Tr N ¥ Coll “A" Investars Pund of Am’Inc Mass Invest Tr Mutual Invest of Am Supervised Bhre %’“‘"’A Pdm;dd hlry 8hrs usteed Indust . teed N Y _.hr . Trust Trusteed Am'BE" | complete “official stocks on the Chicago Stock Exchange Climbs to | Mark During Week ! By the Associated Press. 107.895 | DETROIT, April 6.—Crams Reports, Inc, estimates country’s automotive week ending today at 107.895 units, against 103,286 last week and 89.722 | units for the same week a year ago. |8 The production is the highest in one | week since the week ending April 26, 1930. when output amounted to 118,- 800 cars and trucks. e K FEDERAL LAND BANKS |~ JORK. April 6 (. —Federal, Land As NEW Bank _bonds. M CHICAGO STOCK MARKET' production of the plants for the Prices 1 Government medium ners whites. BUTTER - One-nou 5i 1-Dound prints Beef, 18 Current and dated white egis ' ext. | standards. large LIVE POULTR changed prices 19820: Leghor: Sprine_chickes i14 pounds. Washington Produce d prints 0 score) s (90 score). 89 score!! 15823 pork loins, smoked hams. lard. 16%2al 15a17 A: fresh strip . compound, Prices by the United States Burean of Axnr\ll'urnl Economics: EGGS—Market cent full, higher graded ex: Teceipts. steady to firm. n United Siates ras. 10 Governme: U. S. extra mediums, Soan1 “Market steady at un- Foul: Colored under Pounds. oms. BALTIMORE STOCKS Special Dispatch to The Star. BALTIMORE. April 6.— Sales. ST 10 Black OCKS & High. Low Ry R7p M’ETAI. MARKET NEW YORK. April 8 (# —Tin steady spot _and nearby 40.50: future. ~ 49.10 Other metals nominally unchanged. CHICAGO. Abril 6 (. —Following is the today Sales. STOCKS. T Pur Mait 100 Am Pun B L 830 Borg-Warner 10 Bunte Bros Cent Cold Ston Cen TII Pub Svc pf ‘en Ind Pow of. . 40 Kalamazoo Stove 100 Katz Drug. .. .. 20 Eevstone St bt 100 Kingsbury _ Brew wheck "6 pt N & lunl.mcoln PI‘ 100 Lion 30 Loudon” Pack 150 Marsh Pield "n Mcnunv Norri s Leather 150 Novfitt-Sparks " 50 Perfect Circle .. list of transactions in High, Low. Close. | 48 ° 4R AR NEW YORK BANK STOCKS NEW YORK | Security Dealers” Al A (»—New York Association Bank of Man (1%a). Bankers' Tr Brosin Trust (4" E F. T Avenue 111 First Boston Corp (%) Pirst Natl_(100) Guaranty Tr « . 11565 1615 STOCKS END WEEK - WITH STEADY TONE Prices Only Little Better Than Yesterday for Most i of Session. BY VICTOR EUBANK, Assoclated Press Pinancial Writer, NEW YORK. April 6.—The stock market caught its breath today after 1ts sharp spurt of the previous session. Some traders showed a disposition to | ‘ake profits, and prices were only a littie better than yesterday during most of the proceedings. The close was fairly steady. Transfers approxi- mated 425,000 shares. While bullish sentiment still seemed to predominate, there was little ten- dency to reach for equities, either by the public or so-called professionals. After a moderately active and some- what higher opening, the trading volume dwindled. A few specialties were in demand A sharp rally in the guilder brought | some confusion to bears on this cur- rency. Other gold bloc monies also recovered sympathetically. Grains | were quiet and narrow most of the time, as was cotton and other com- modities. Rail bonds improved on the hope that the Supreme Court would hand down its decision on the carrier pension law Monday. Shares of Eastman Kodak got up 2 points and Air Reduction and Cater- pillar Tractor admnrod about 1 each | FOREIGN EXCHANGES N U. S. TREASURY POSITION. he position of the Tr Receipts. s054 Nio halance ece'pts for the month «uvv nn April 4 enditures 1.54K.183; excrss of ex- gold assets BALTIMORE LIVE STOCK. (JBALTIMORE. April & 7 se specified.) 160-150 nou Washmgton Exchange SALES. After call Capital Transit at 20'; Co—10 at 20'%, 10 BONDS. Bid and Asked Prices. PUBLIC UTILITY Amer. Tel & Tel o Am. Tel. & Tel. o j007; Gm:mm Gas 1<t s Pot Elec Pow Cons Potomar_ Eleg Wash. Gas 3x Wash. Ga Wash' Gas Wash. Rwy. & M Ros Chevy' Chare Ciub Col. Country Ciub D. C."Paper Mie W. M. Cold § STOCKS PUBLIC UTiLIi¥. Barber & Amer. Tel Capital Tran N. & W. Steamboa Fot. Elec, Pox, i, S pfd (3 Do Wihington 100 TRUST COMPANY Amer. Sec. & Tr. Co. (R)...*104 Natl. Sav. & Tr el Wash. Loan & Trust (5" 1 - SAVINGS BANK Com & Savines (/) 150 FIRE INSURANCE American (1) Corcoran (2.5¢ Firemen's 11.60) National Union (60} TITLE INSURANCE Columbia (30) .. Real Estate (6)..] MISCELLANEOUS Carpel Corp. (1.60) D. C._Paper Mfg pfd:! Em. Bromo-Selz. “A” (1.60) Lanston Mono:ype (1) .. Mergenthaler Linotype pe Peorles Drug Si_pfd 16567 t. M & G pfd. (20 OFFICE EQUIPMENT WE SELL, BUY or EXCHANGE Desks Adding Machines Tables Check _Protectors Chairs Steel Files Typewriters Steel Cabinets BAUM’'S FURNITURE HOUSE 1416 Eye St. NN\W. Ph. NA. 2184 First Morrcace Loan 5%% Complete Property Management Including Renting, Collections and Refinancing of First Mortgages Homes Apartments 50 Ut 50 Dul & Ind bt 50 Vortex Cup 200 Walgreen 1 Waukesha 100 Wilisms "OHC6- M 33 Total stock sales 18:000 shares. BONDS. 15 58 '27 et 1000 LA ! !l ‘Total bond sales. $16.000. 701, 334 0% BB‘mlM‘ alJ'r- 3Uh Business Properties RANDALL H.HAGNER & CGOMPANY INCORPORATED MORTGAGE LoaN CORRE SPONDENT ./tél?/m-[ .% Ssurance %m/afl/ 1321 Connecticut Avenue NW Telephone: DEcatur 3600