Evening Star Newspaper, April 18, 1935, Page 18

A—I8 *¥» FINANCIAL.) BABSON STRESSES TRANSACTIONS ON THE NEW YORK STOCK EXC BANKS' PROGRESS Holds Splendid Condition Is a Major Reason for Optimism. BY EDWARD C. STONE. According to dispatches from Augusta, Ga., Roger W. Babson, economist, told the financiers at the Spring council meeting of the American Bankers’ Association yesterday that the splendid condition of the Nation's banks is one of the chief reasons for optimism. No business has more potential op- portunities than banking, he added. “I am bullish on the banking business and on the price of bank stocks,” the economist declared. “After tremend- ously distressing times, you are now on the verge of a very prosperous era. Mr. Babson insisted that in spite of a good deal of pessimistic talk, condi- tions are distinctly better, better than in any Spring during the last five years. He then cited 10 reasons for his opinions. Bad conditions are being continually cleared up with a reduction in private, corporate and municipals debts, he said. Inventories are declining; retail sales are increasing both in dollars and volume; dividend disbursements, including back payments on preferred stocks, are on the increase, and collec- tions in most cases are running 6 per cent ahead of last year. Cites Other Bright Factors. Backing up his claims further, Mr. | Babscu said failures are at a low figure and foreclosures are declining; | farm income is increasing irrespective ot Government aid: notwithstanding attacks on the utilities, electric output 1s running higher than it has for sev- eral years; railroad car loadings are holding up well and the outlook ap- pears better. At the same time, Su- preme Court decisions and the general attitude 'of the administration is be- coming more conservative. Mr. Babson declared that he still | has faith in the business cycle and | cited 10 reasons why he thinks ousi- ness should be better for the next two or three years. The same people who were the most optimistic in 1929 are the most glocmy now. They may Le wrong again, he said. The tremendous amount of idle money awaiting investment must sume day break through the dam. New building will surely come back to 60 or 70 per cent of the 1929 figures. ‘The political cycle is moving to the right, the utilities are bound to nave a comeback, and the American pecple will sooner or later become “recovery crazy.” The Babson chart points to prosperous times for two or three years, he said in conclusion. A. B. A. Pushes Advertising. How the American Bankers' Asso- clation i8 seeking to rebuild public confidence through advertising was pictured yesterday at Augusta W Gurden Edwards, director of publicity. He outlined in detail the advertising service conducted by the association. The aim is to show that skill. ability and honesty of the management under private initiative and leadership have more to do with safe banking than banking laws. In concluding his re- port for the association he said: “The advertising department is now serving regularly each fonth 924 mem- bers of the association with its various services, including newspaper adver- tisements, posters, booklets and fold- ers. The total number of advertise- ments sent to subscribers during March was 4.353. By classes, the total num- ber of members receiving trust adver- tisements each month is 289, savings advertisements, 269; commercial bank- Ing advertisements, 316, and the total receiving the new informative service described above is 304. “On the basis of March operations of the advertising department, it is now supplying subscribing member banks with about 50,000 newspaper advertisements annually. It is also supplying 460 banks with one or more posters monthly. The growth of the work of the department is shown by the following figures: On September 1, 1934, the number of banks being served regularly each month was 623. ‘The total number on April 1, 1935, was 924, an increase of 301 regular subscribers, or 48 per cent in a period of seven months.” The Washington deleganon to the Executive Council meeting is expected back in the financial district tomor- row. An invitation was extended to the association to held the annual convention in 1936 at San Francisco. The 1935 convention takes place in New Orleans, that decision being made at the convention here last October. Lively Trading in Bonds. ‘There was a lively demand for bonds on the Washington Stock Ex- change today, mostly for Capital Traction 5s. The market opened with five consecutive $1,000 sales in this issue, all at 99. After call, a $3,000 transfer took place at the same price. | D. C. Paper Co. 6s came out, today for the first time in many sessions. One $1,000 sale was recorded at 1612 and another at 16%, the day’s last bond transactions. Capital Transit stock showed a bit more strength at the close. The stock opened with small lot sales at 18% but closed with a small traosfer at 19 flat. In the recent weakness in this stock the volume of trading has been comparatively light. Washing- ton Railway & Electric again moved at 104. At the regular quarterly meeting of the Board of Directors of the Lin- coln Service Corp., industrial bankers, Marcy L. Sperry, president of the Washington Gas Light Co., was elected & member of the board of the corpora- tion. Charles Delmar is president of the company. Banks Open Good Friday. All the Washington banks will be open as usual tomorrow, “Good Fri- day, but all the New York Stock Exchange offices in this city will be closed as the holiday is observed in Wall Street. The Washington ex- change will be closed. Three Washington bank officers will be among the 160 representing 32 States and the District of Colum- bia at the new Graduate School of Banking at Rutgers University, New Brunswick, N. J., when the Summe: courses open in June. They are Nel- son B. O'Neal, assistant vice president, Riggs National Bank; R. E. Haycock, suditor, and H. T. Bisselle, assistant cashier of the same institution There are nine bank presidents among those Prev. High. T% 331 11% 116% 20% 3% 1% 25 141 127% 17% 23% T4 7 18% 90 3% 15% 18% 164 24 5% 6% 26% 40's 112 131 69% 43 7015 24% 107% 84y 86% 19% 147% 61% 1% 9% 11y 29% 14 5% 110% 10 5974 98 25% 34%, 301 318 364 441 421 1 4 11% 13% 37 29% 42% 23% 96% 5 15 2814 202% 57% 57% 114% 62% 23% 1% 40% 4% 10% 42 10% 221 22% 89Y 83 1% who have registered for the courses. NEW YORK PRODUCE. NEW YORK April 18 (fl——!u:hur, weaker. Mixed colol or selections from fres] , Siandards and com- ; firsts, 23%a other mixed All freight quo- mercial U colors unchanged. Live poultry nominal. tations unaquoted. Brooklyn-Manhattan Transit Corp. common share eatnings, nine months 86% mmn.r-nun.ua 110 104 Dlllw-oull(l) &MM 1935 Stock and Lov. _ Dividend Rate. 4% Adams Express. 28% Adai 11lis (3 8 Addressograph. 104% Air Reduction ( 15% Alaska Jun (11.20 2 Albany Wrap Paper % Alleg Corp (K)....o 21 Allegheny St (1) 125 Allied Chem (6).... 123% Allled Chem pf (7). 12 Allis-Chalmers..... 2l Amal Leather...... 48% Amerada Corp (2) 42 Am Ag Chem Del(2) ]’!% Am Bank Note Am Bank N pf Am Brake Sh pf (7) AmCan (16)....... Am Car & Foumlry. Am Chain... Am Chain pf. Am Chicle (13%). 2% Am Colortype. . N 2214 Am Comcl Alcohol.. 613 Am Crystal Sugar. 1% Am Ensaustic...... 2 Am & Foreign Pwr, 3% Am & For Pw 2d pf. 9% Am Hawailan 8S(1) 294 Am Home P (2.40). 813 Am Ice Co...... 2874 Am Ice Co pf (6). 4Y% Am International... 9 Am Locomotiv 181 Am Mch & Fv. 4% Am Mach & Metals. 45 Am Mach & Met ctf. 1313 Am Meta 72 Am Metals pf. 1% Am Power & L 8% Am P&L $5 pf (l“) 10% Am P&L $6 pf (l'fi) 1013 Am Radiator. 15% Am Rolling M 66 Am Saf Ras ("K). 415 Am Seating. . e 20 Am Shipbldg 2y, 31% Am Smelt & Ref. .. 103 Am S&R 6% pf 7. 121 Am S&M 7% pf (7). 63 Am Snuff (13%).... 33'3 Am Stores (12% 55's Am Sug (2). 18'; Am Sum Tob . 987. Am Tel & Tel (9)... 7213 Am Tobacco (5) 74% Am Tobacco B (5).. 9 Am Type Fdrs pf(k’ Tis Am Wat Wks (80¢). 48 Am Wat W 1st (6).. 5% Am Writ Paper (k). 47x Am Woolen. .. 35‘& Am Woolen pf... Anaconda Coppe! Anchor Cap (60c).. Anchor Cap pf(6%) 36 Archer-Dan M t1%. 97 Armour Del pf (7)., 31 Armour of lilinots. . 56 Armour [l pr pt () 4 Arnold Constabl 715 Asso Dry Goods 48 Asso Dry G 2d pf. 35% Atch To&S F (h2).. 66% Atch To&S F pt (5). 1915 Atlantic Coast Line 21% Atlantic Ref (1)... 324, Atlas Powder (2) 106% Atlas Powder pf 16) 15 Auburn Auto. . 65 Austin Nichols. 3 Awviation Corp Del 14 103 1'; Baldwin Loco (K).. 713 Baltimore & Ohio 574 Barnsdall Corp. 15% Beatrice Cre( 11% Belding-Hem a50c. 11% Bendix Aviation. .. 15 Beneficial Loan 1%. 4 34 Best&Co (2) 55% Bethlehem Stl pf... 14% Bigelow-San Corp.. 98, Blaw-Knox........ 103% Bloomingdale pf (7) 61 Boeing Airplane. .. 49% Bohn Alum&Br (3). 90 Bon Ami (A)(15).. 21 Borden Co (1.60)... 284 Borg Warner (1%). 24); Briggs MIg (3).... 231x Briggs & Strat (3).. 31% Bristol-Myers 12.40. 36's Bklyn-Man Tr (3). 90 Bklyn-Man T pf (6) 113 BKlyn & Queens.... 53 Brown Shoe (3) 4% Bucyrus Erie. . 814 Bucyrus Erle ev M‘, 314 Budd (E G) Mfg 23 Budd (EG) Mfgpf 21 Budd Whe 8% Bullard Co. 134 Burr Add M (88¢). . 1 Bush Terminal (k). 5% Bush Term deb (k). 10 Bush Tr Bidg pf ct. 114 Butte Copper & Zine 11% Byers (A M)....... _— 361 California Prg(13%) 15 Callahan Zinc. . 215 Calumet & Hecla. .o Ty Campbell- Wyant. .. 9% Canadian Pacifie. . . 3213 Cap Admin pf A (3) 45% Case (J 1) Co.. 8313 Case (J 1)pf(4) 3614 Caterpillar Trae(1). 19% Celanese Corp. - ... 11% Celotex Co pf (k) 221 Cent Aguire (1%).. 38% Cerro de Pasco (2). 38 Certain-teed Prod. .. 374 Ches & Ohio (2.80). 36 Chesap Corp (3 % Chi Gt Westn (k).. % Chi Ml St P& P. % Chi Mil St P & P pf. 2% Chi & Northwestrn. 414 Chi & Northwest pf. 4% Chi Pneumatic Tool 20 Chi Pneu Tool pf... 1 ChiR1&P (k). 25% Chickasha CO ( 31 Chrysler Corp (1).a 20 City Ice & Fuel (2). 87 City lce& Fpf 6%. 5 City Stores new (k) 12% Clark Equip ¢80¢).. 24 Cluett Peabody (1). 1617 Coca-Cola (8).... 55% Coca-Cola (A) )(3). P-P (80¢).. Alkman... 1 Colo Fuel & Iron(k) 5 Colo Fuel & Ir pt(k) 10% Colo & South. 6% Colo & South 33 Col Gas & Elec. - 351%5Col G& DL A (6).. 34% Colum Plo vte (m1) 67 Columb Carbon (4). 391 Comel Credit (2)... 521 Comel Credit(A)(3) 109% Comel C 18t Df(634) 56% Comel Inv Tr t23. 17% Comel Solv (t85¢). % Comw & Southn.... 291 Comw & Sou pt (3). 27 Congoleum-N(1.60) 9 CongressCigar. ... 23% Conn Ry & Lt (4%) 7 Consol Clgar....... 15% Consol Film pf (32). 15% Consol Gas N ¥ (1). 72% Consol Gas pf (6) 6% Consol Ol (h42¢). .. 15 Consol Textile. ...e 9%, Container Corp (A): 3% Contatner Corp (B). 435 Contl Baking (A)... % Cont] Baking (B). .. 46% Cont] Baking pf (4) 62% Conti Can (3.40) ... 7 Contl Dia F (llic) B 28% Contl insur (11.36). % Contl Motors.. .... 15% Cont O(Del)a12%e. 62 Corn Prod Ref (3).. 4% Coty ING... ....00 35% Cream of Wht 12 1233 Crosley Radio 23% Crown C &8 ( 31 Crown-Zellerback. . 40% Cuban-Am Sugar bt 41 Cudahy Pkg (3%).. 2% 15 Curtis Publishing.. 89% Curtis Pub pf (T)... 2 Curtiss Wright..... 6% Curtiss Wright (A). 16 Cutier Hammer.... 22% Deere & Co. 19 Deere&Co pt 28% Delaware & Hudson 11 Del Lack & West... 65 Detroit Edison (¢ 26% Diamond M «t1%). 34% Diamond M pf (1%) 34% Dome Mines (3)... 17% Dougias Aircraft. .. 13% Dresser Mfg A n\fi THE EVENING STAR, WASHINGTON, D. C., THURSDAY, APRIL 18, 1935. irect to The Star. :wu- A«O?’ High. Xfl' mmchfl lmfimsm 2 18 10% 118 10% 10% + W 114% 118 +24 6 16% 16% 16% + % 1 3 2% 1 2% 1 + 4% 2% % 1 24% 24% 24% — % 29 143 139 143 +4 6 127% 122% 122% - 3% 9 lfih 15% 15% + % h 3 + % ! 51% 56% B6% + ' 13 5 . 2608 1008 50 - —-a LR~ P T E e T O .-:2—;.-.:»- mBeonnm 48% 20% 59% 125 120% 12% 14 24 206 56% 17T% 10% 1% 454 48l +8% 19% 20% + % 58% b69% + % 124% 125 llfi’i 120% +2W 12% + W 10% 10% + % % T4 +1% 8 8 -1 3 3 241 — % 8t + % 2 2 3% b = 8 8% —1% 111 132 8% 34% 581 200 2 106 107% +1% W 19+ % 80 Bl + % 123 124 + % 10% 10% = % 5814 5815 —1 N L+ W 6% T + % 42 431 424 1% 11% 15 107 8% 1041 3% 61 5 14 23% lRQ"h 16’/1 :ss ++4i susy & sxse sFx2 §§~ Bt | STOCK AVERAGES Complled by the Associated Press. Year ago 1935 high 1935 low 1934 high .. 1934 low . 1932 low . 1929 high .. 1927 low ... Prev. 1038 Stock and Dividend Rate. Eastm'n Kod pt (6 20% 16% Eaton Mfg (1) 29 19 Electric Auto Lt llfl‘i 107 Eleec Auto Lite pf 3% Electric Boat. . 6% Elec & Mus Ind..., 1% Elec Pwr & Light.. 2% Elec Pwr&Lt $6 pf.. 3 Eleo Pwr&Lt $7 of. % Elk Horn Coal (k). . % Elk Horn Coal pf(k) 52% Endicott-John (3) of..... Vac Cl(80c) Auto (a75c). 2% Exchange Buffet zu. 17 Fairbanks-Mor: 71% Fairbanks-Mrs pf.. 5% Fed Lt & Trac. 3% Fed Motor Truck 2% Fed Screw Work 124 Firestone t40c). 46 First Nat Strs(2 31, Forrannes Bros k) 20% Food Mach (1) l‘?‘. Fourth Nat In \ Fox Fiim (A). 17;. Freeport-Texas (1) Fuller Co 2d pt Rk 6 4% 63 25 1 Gabriel Co (A) 7 Gamewell Co.. 51 Gen Am Investors. 32% Gen Am Trans(1%) 115 Gen Bakiny, pf (8). 5% Gen Bronze. 2 Gen Cabl 4 GenCable (A) 19 Gen Cablept.. 50 Gen Cigar (17) 201 Gen Electrie (60¢) 321 Gen Foods (1.80) % Gen Gas & El (A). 59% Gen Mills (3)...... % 2615 Gen Motors (1}.... 1072 Gen Motors pf (5).. 3% Gen Outdoors Adv. . 10 Gen Qutdoors AdvA 17% Gen Print ink 1.20. . 11 Gen Public Service. 15% Gen Ry Signal (1) % Gen Realty & Utl 16% Gen Refractories. 16's Gen Refrac cifs. 14 Gen Stl Casting pf. . 12 Gillett Saf Raz (1), 70% Gillett Saf R pf(5). 24 Gimbel oros. . 18 Gimbel Bros pf. 2 23% Glidden Co (11.30) . 108'1. 10474 Glidden Co pr pf (7) 4% 215 Gobel (Adoif) 147x Gold Dust (1.2 T3 Goodrich (B F). 15% Goodyear T& R.... 70 Goodyear $7 pf (4). 5% Granby Consol 2% Grand Unton. . 17 Grand Union pf 1%. 26 Grant (W T)(11%) 9% Great Northern pf.. 9% Great Nor Ore (50c) 31% 26% Grt West Sug (2.40) 128 119 @rt West Sug pf(7) 2% 1 Guantanamo Sugar. 24 19 GuantanamoSug pf 64 33 Hahn Dept Sto 70% 56 Hahn Dpt Stores pf 7l 4 Hall W F Printing. 106% 101 Hanna (M A)pf(7). 20 16 Harb Walker (1)... 107% 99% Harbison & W p£(6) 7 5% Hat Corp (A). 87 81 HatCpfww ( 3% 1% Hayes Body. 132 127 Helme (G W. % 150 14215 Helme (G W)pf(7). 16% 11 Hercules Mot (80c) 7% 71 Hercules Pw (13%) 12714 122 Hercules P pf (7).. 813, 73% Hershey Choc (3). 5% Holland Furnace. 6% Holland & Son (60¢) 15 Ralils. +1 202 20.1 196 39.6 276 18.5 43.0 228 8.7 1539 95.3 PRISTOrTIes - TN - Py pepeyern @ = Trenelak - ° o BeanORrBanmE Awe Ba k- . 307 Houd-Hirsh A(2%)x 20 613 Houdaille-Hersh B. 43 Howe Sound (3).. 613 Hudson & Man pf. 6% Hudson Motor Car. % Hupp Motors 24% Indus Rayon ( 6015 Ingersoli-Rand (2). 46% Inland Steel (1).... 4 Insur Shot Md 14c.. 8% Interboro Rp Tr(k), 4% Interlake Iron 5 16% 1 42% 170 149% int Bus Mach (p6) 33 22% IntCement (1)....s 43% 34% Int Harvester (60¢c) 14215 136 Int Harvester pf(7) 2% 13 Int Hydro Elec (A). 26% 22% Int Nick Can (60c). 1% % Int Paper & Pw (C). 12 4% Int Paper & Pw pf 245 21% Int Print Ink (1). 18% 10% Int Rys Cent Am pf. 3% 4% 9% 9% 6% Intertype Corp 36 29% Island Creek C (2). _— 57 49 JewelTea (3) 57% 381 Johns-Manvi 73 50 Jones&Laug! 3% Kans City Southern 7% Kaufm'n D S(ad0c) 15% Kayser(J )& Co 60c. -Hayes (A) 3% Kelsey-Hayes (B) 14% Kelvinator (170c) 13% Kennecott C (§0¢). . 23 Kinney (G R) Co pt 19% Kresge (88 )(1)... 561 Kress (S H) (f1) 23% Kroger Gr&Bk 1.60. 24 Lambert Co (3). 5% Lane Bryant. . 10% Leh Port Cement. 6% Lehigh Val Coal pf. 5 Lehigh Valley R R. 67% Lehman Cp(132.65) 14% Lehn & Fink (1%). 21% Lib-O-Ford G1(1.20) 21 Life Saver (1.60)... 93% Ligg & Myers B(t5) 167 Lily Tulip Cup(1%) 24% Liquid Carb (11%). 311 Loew's Inc (3)..... lO!h 102 Loew’s Inc pf (8%) 1% 1 Loftine.. . 36% 33% Loose-Wile 218, 18% Lorillard P (fl 10) . 8% 10% 19 12% 113 18% 18% 38 22 69% 28% 135% 124 Lorillard P pf (7).. 2’0! 135 134 ”0- 1% % Louisiana Oil. 14% 7% Louisi on 15% 10% Lou! 47% 34 Loulsv & Nash (3). 103 90% Ludlum Stl of (63%4) . 121 113 MacAnd & F' pf (6). 28 McCall Corp (3)... 36% Mclntyre Porcu (3) 903 McKeesport T P (4) 6% McKesson & Rob. .. 35% McKesson & Rob pt 8% McLellan Stores (k) 20% Mack Truck (1).... 30% Macy (R H)& Co(2) 5% Madison Sq Garden 18% Magma Copper (2). % Mallison & Co...... 4 Manati Sugar pf (k) 4% Marancha Corp.... 534 Marine Midld (40¢) . 28% l:‘ Marlin-Rockwell (3 . Y 309 17 3 - Sa =3 S - 09 S 1003 ® 1 bt 1 St 1t 0 0 51 00 1D b 005 o S [ 15 3 24 23% 22 102% 102 2 2 1 24 1 6 1 2 NN E O 100 20s 121 15 60 Util. Stocks. -1 +.1 256 382 257 381 234 36.0 35.8 26.6 216 406 242 239 184.3 618 llla et Add 00. Bigh. la' Close. Chee. 5%, FEFEEIE FEEF FE 55 + +1+++++0 0+ +itEal + SRk £ REE 5 L ++ 1010 ¥ £EOEF FIEEFESE &2 FLI4H1+44+ 441 Lilis+es SEE ERFEELS 31+ s+ Th + 9% + 29 63% 454 +1% 55 FEFEEFES 5 W% - % 1T - % 11% + K! 10 164 + % 17% + % 26 +2 FREEF FERF K 2 24 + 102% + 18 17% 18 29% 29% 29% 36% 37T% + 07 107 ¥ 1% 1% 34% 34% 34% + 21% 20% 20% 134 1% 1% % 13 10 12 +3% 156% 15% 15% + % 3. 38 39 - U 100 100 +3% 121 121 304~ 29% 29% — % nd Sales— e Dividend Rate. Add 00. m ’d' Close. Chgs. | High. Low. 23% Mathieson Alk(1%) - 32 85% May Dept Str (1.60) 5% Maytag Co. . . 83 Maytag pf ww §2%. 841% Maytag 1st pf (6).. 41 Melville Shoe(+234) 24% Mesta Mach (1%).. 2% Miami Copper...... 9% Mid-Cont Pet(h50¢) 8% Midland St . 60% Midl'd St 37% Minn Mol 31" Minn Moline Pow ot 1% MStP&SSMisin 10% Mission Corp. 2% Mo Kan & Texa: 6 Mo Kan & Texas of. 10% Mohawk C M (h26¢) 56 MonsantoC (1).... 21% Montgomery Ward. Morris&Essex(3%). % Mother Lode. . . 17% Motor Products 1) 2 12 8 367 Mullins Mfx f. 4% Murray Corp 30 Myer(FE)&Co 11 Nash Motors (1)... 4% Nat Acme Co. B 6% Nat Aviation 22% Nat Biscuit 2) 1315 Nat Cesh Keg A 6 12% Nat Dairy Prod ) 20 1'4 Nat Dept Store (k). 17 Nat Dep St 1st pf(k) 24% Nat Distillers (2).. lGBV: 145 Nat Lead (5).. 8% 4% Nat Pwr & Lt (80¢) 50% 40% Nat Steel (11%).... 14% 9 Nat Supply Co...... 50 36 Nat Supply pf. - 115% 109 Nflvhurryu.l)pf(fl 8 4% Newport Industries 21% 12% N Y Central R R. 25 9% I YCh1 & St Lot % % N Y Investors (k 8% 2% N Y N H & Hartford 1 %N Y Raflwayspf... 16% 6% N Y Shipbullding.. 72 N Y Shipbldg pf (7) 70 N Y Steam pf (6).. 90 N Y Steam Ist (7).. A 30% Noranda Mines (h2) 175 158 Norfolk & W (110). 4 2 North Am Aviation. 14 9 NorthAmCo(1)... 45% 35 North Am Co pf (3) 72% 57 North Am Ed pf (6) 94 861 North'n Central (4) 217% 13% Northern Pacific. .. 2% 1% Norwalk Tire&Rub. 31"4 12 9% Ohto Ofl (h4bec).... 4% 17 Oliver Farm Equip. 26% 17% Oliver Fprof A.... 112 106 Otis Elev pf (8). 4% Otis Steel 38 OutletCo (2 80 Owens-111 G ) 13% Pacific G & £ (1%4). 25% 19 Pacific Ltz (2.40).. R5'3 70 Pacific Te! & Tel 6) 121 111 Pacific T & T pf (6) 5% 3! Packard Motor.... 2% Par-Publix ctfs (k) 2% Park Utah ... 7% Parmelee T nlncrt 1; Pathe Exchange. . 10% Pathe Ex:hlnlO(A) 8% Patino Mines . 1t Peerless Motor 6415 Penick & Ford (3).. 574 Penney (J C) (3).. 253 18 Penn Dixie Cpf (A) 25% 17% Penn R R (1).... 39% 30 Peoples Drug 8 (1) 116% 110% Peoples D S pf 6. 17% Peoples Gas Chi 12% Phelps Dodge(h75¢) 23 PhilaCo $6 pf (3).. 1% Phila& Read C & 1. 35% Philip Morris (1) 13% Phillips Petrol (1). % Plerce Oil....... 5'4 Pitts Screw & Bolt. 2214 Pitts Steelpf. . 6'3 Plymouth 01l (1) 6% Poor & Co (B).... 1% Porto Rie Am Tob A % Porto R Am Tob B. 81 Postal Tel & Ca pf.. 1% Pressed St Car (k). 49% 42% Proc & Gamb (1%). 120% 115 Proc & Gam pf (5). 27% 20% Pub Serv N J (2.80) 797 623 Pub Serv N J pf (5) 52’4 39 Pullman ine (l)... 5% Pure Oil. . 49% Pure Ofl pf.. 8% Purity Bakerd 4% L 1 11 17% 124 1% 2% T4 10% 1) 4 Radio Corporation. 50 RadioCorppf A 3% 35% Radio Corp pf (B).. 1% Radlo-Keith-Or (k) 33 Reading 2d pf (2) 3% Real Silk Hoslery.. 8 Remington-. 71% Remingto: 70 Reming-Rai 2V, Reo Motor Car..... 9~ Republic Stee! 19 Reynolds Metalsi). 12% Reynolds Sp 40c)... 43% Reynolds Tob B (3) 2915 Roy’l D h1.35 3-10c. 3% Rutland RRpf.... 5% 3% 15% 245 15% 51 333, 513 46 37! Safeway Stores(3). 112 % 110 Safeway Strs pf (7) 17% 101 St Joseph Ld o 28‘5 204 60 % 28% 401, 49% 9% 143 5ia 914 T%h 8% 10% 18% 9% 84 21% 34% 20 8 Schulte Re Strs pf. 55 Scott Paper (1.70).. 2 Seaboard Afr L (k). 20% Seab’d O11(Del)(11) 31 Sears Roeb'k (75¢). 40 Sec Nat Inv pf (J2). 7% Servel Inc... 9 Sharon Si 3% Sharp & Dohme T% Shattuck (F G)25e.. 514 Shell Union Ofl. . 63'4 Shell Union Oil Df. . 6 Simmons Co... 13% Simms Petrol (1). e 6% Skelly Ofl......c00n 60 Skelly Oil pf ww... 13 Sloss-Sheftield. 24 Sloss-Sheffield pf 15% Snider Packing.... 11 Socony-Vac (80¢).. lllh 107% Sol Am Inv pf(5%) NEWSPAPER ADVERTISING INCREASES IN MARCH By the Associated Press. NEW YORK, April 18.—Newspaper advertising during March showed an increase of 5.2 per cent over Febru- ary, according to the index of Printers’ Ink. This represents the change in March lineage from Febru- ary after the usual adjustments for the number of days in the month and for seasonal fluctuations. For March the index figure stood 77.0, as com- pared with 732 for the preceding month. The March index also shows that there has been a moderate pick- up for March a year ago. LONDON BANK REPORT. LONDON. April 18 (@ ._—The weekly statement of the Bank of England shows the following changes in pounds: _Total reserve decreased 4.187,000, circulatio increased 4.141.000. bullion decreased 46, 000, other securities decreased 052.00¢ Dpublic deposits _decr .000.” other deposits, decreased 3 55,000, notes Te- decreased 4.141.000, " sovernment ucurum lnclnsed E 0 roportion of the bank's reserve to lllbfllt! ll 40 71 per cent, compared with 42.57 last weel Rate of discount. 2 FOREIGN EXCHANGES. NEW YORK. April 18 (#.—Foreign ex- change steady: Gre-t Britain in_dollars, otg;n lnbleenu Great Bri . d per cent. ; Shanghai. Ilellw City 1lllver in New York. 99.62! treal, 100.37%. 'SAVANNAH NAVAL STORES. SAVANNAH. il 18 (P — Arm e sales Bo7; Feckipts B30 BhiD 37 Stock. 24740 Rosin firm: 11101 11035 11018 & 1 Prev. 1035 28 + %| 25 15% 19% 16% 20% 5% 12% 32% 25% 43% 16% 64%m 9% 5 3 16% 2% 9% 6% 28% FlHi++ bt FE EF ERERIFE FEER T% 36% a 9% 8% 38, 4213 6 6 t4dtd 44 +1 FEEE 2% 61y 501y 50% 18% 111t 9% 207 9% United 95 6: 51 zh 21% 14% 95 37's 4% 2T% 100 962 811 " 31 91 213 Va-Car 18 Va-Car 85 Va-Car 63'3 Vulcan T 2% Yellow 42 4% 11:00 A.M. 12 Ofl Pll llln ul 9% in stock atock. e P dividends ganized stock 5 + W RETAILERS AWAIT EASTER SHOPPERS Shopkeepers Hope for Late Rush After Spotty Sales Period. BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, April 18—Stores in many sections of the country opened their doors hopefully today. With three shopping days before Easter, the shop- keepers, big and little, looked forward to a spurt in pre-Easter purchases, which so far, to put it mildly, have been “spotty.” Wholesale trade in the last few weeks, except where labor difficulties were encountered, such as in the strike of dressmakers here, has been rela- tively better than retall business. As a result wholesale districts today are virtually deserted, excepting garment manufacturing plants and show rooms, and out-of-town buyers are fewer in number than at any other time this year. Celebration ‘of Passover today nat- urally restricted attendance in many business and financial circles, while the observance of Good Friday tomor- row will be registered in other quarters. Virtually all commodity and security markets will be closed tomorrow, as will the banks and financial institu- tions in some States. (Copyright. 1035.) Parmelee Transportation Co. March quan:: deficit was $70,327 vs. deficit | quarter A A Stock and Dividend Rate. 20 Sou Por RicoSug(2) 40% — % | 140 132 SoPorto RS pf (8) 103 South Cal Ed 1%).. 12% Southern Pacifie... 7% Southern Railway.. i0 Southern Rwy of... 25% So Ry M & O cfs (4) 314 Sparks-Withington. 7% Sperry Corp (2be).. 814 Splcer Mfg........ 33% Splcer Mfg pf (3).. 14% Stand Brands (1)... 1% Stand G & £ 34 of... 4% Stand G&E §6 pf 27% Stand O}l of Cal(1). 116 111 Stand Oil Exp pf(5) 23 Stand Ofl of Ind (1) 36% Stand Ofl N J(11%4) 121 Starrett (L 8) a25e. 58% Sterling Prod (3.80) 6% Stewart-Warner. .. 214 Stone & Webster 2% Studebaker (new) 11 Superheater (50c) 1% Supertor Oil. 5 Superior St 4 Tennessee Corp. 16% Texas Corp (1). Gulf 8ul ( 14 Texas& PacRR... 31 Tex Pac Coal & Ofl. 8'3 Tex Pac Land Trust 15% Thatcher Mfg (a25¢ 23 Thermoid Co... 23 Third Avenue. 13% Tnompson Products 1% Thompson Starrett. 7% Tide Wat Asso Oil.. 84 Tide Wat A O pt(§) 105 100 Tide Wat Oil pf (5) 4% Timken-Detroit. . 28% Cimken R B (1).... % Transamerica (25¢) T% Trans & West'n Air b% Transue & Willlams 1% Tri-Contl Corp. . 36 Irico Prod (2%) 4% Truax-Tra Coal ... 3% Truscon Steel. 27% 18 TwinCity RT pf. -_— 1% Ulen & Co. 533, Und-El-Fis Union Bag&lap &y 44 Un Carbide&C 1.60. 14% UnOflof Cal (1). 824 Un Pacific (6).. Un Pacific pf (4) . Un Tank Car (1.20). United Afrcraft. 4'3 United Air L vte. 7 United Am Bosch... 21% United Bisc (1.60) 46 United Carbon 2. 1'5 United Corp. .. 20% United Corp pf ( 94 United Drug.. 4'3 Unit Dyewood 715« United F' 714 United Gas | pf (5). 2% United Pce DW.... 14'3 United Pce D W pf. 4'3 U S & For'n Secur.. 40'3 U S Gypsum (1)... 143 U S Gypsum pf (7). 354 U S Ind Alcohol (2) 11% Vanadium Corp. 11% Van Raalte Van Raalte 1stpf 7 34% Vick Chem (12.40). 4'3 Waldorf Sys (h20c) 27% Walgreen Co (1.20) 117_ 114 Walgreen nt (6%). 1\. \\ rd Baking (B). 281, Ward Baking pf (2 21, Warner Bros Pic... 14' Warner Bros Pic pf 5 Warner-Quinlan 213 Warren Bros. 4 Webster huenlohr 1 Wells Fargo....... 30% WessonO &S t1%. 72 Wesson O&S pf (4). 34 West Pa Elec A (7 36 West Pa Elec pt (6. t Pa Elec pf (1) Pa Pwpt (6). 21, Western Pacific pf. 20% Western Unilon.... 18 Westingh'se AB 60¢ 32t Westingh'se Elec. . 90 Westh'se 1st pf 335 16% Westvaco Chi (40c) 6% White Motor. .. 1315 White R’k M S 1.40. 37 Wilson & Coal2ls 58 Wilson & Co pt (§) Woolworth (2.40 25'; Worth Pump of A.. 20 Worth Pump pf B 351 Wright Aero 17% Yale & Town! Truek..... 34! Yellow Truck pf... 21'3 18 YoungSp& W 11y 21's 13 Youngstown S&T.. 3 Zonite Products. . Divige: as b an cash nnmenu Dased on "the latest Jusriers ‘or haltyearsy trag Freald fon Senr—no re stock e Pasabl in cash ot stock s 4% 1n a Pal %ooup-mu Yeportea -did! FINANCIAL, HANGE 2:30pm. Bales— Add 00. High. Low. Close. onn 2 24 23% 24 + % 10s 138 138 138 —1 3 4% 14% 4% 14%-0- 1054 13% ##S#;“J‘S## 32 115 24% 24% 40% 40% 4 14 63% 63% 2 116 115 33 24% 3 Ed H04 ++ 1 H+ ++l+ U+ F OFEFERT FEFE it (3) imp (1) 124 90 3 ltm Gi l 57n 67n 4o7n 2 148 16‘ 68 46% 3 U S Realty & Impr. 9% U S Rubber........ 24'3 U S Rubber 1st pf.. US Smelt & R (16). % U'S Sm &R pL(3%). 273 U 8 Steel. 94 73% U S Steel M 2).... | 1303 119'4 U S Tobacco (17%) 313 United Stores (A).. Univ Leaf Tob (2). 19% 12 Univ Pipe & Rad pf 1 UtlPwr&Lt(A). 106% 1084 68 681y 31% 824 131% 131% 2us 4 5 6 108 3 Chemical... 1 Chem 6% pf 14 Chem 7% pf 2 7213 Va El & Pwr pf (6). 3108 208 2 2 508 1 Detin (a4). s » S FmeoE © Y “ 110 1161 117! W T £y 3 24% 25% 20w 204 378, 388, 931y 20% 16% 160¢) 82 2 4 15% 170,000 . 470,000 @iven 1o the above nusi in 100 shares. tPart fecvias tate b Faynie i L Flas 81 10 specis) orefetreq ihls year ) Accumulsted Y recelvarshin or seiny reor ius 3% in stock D Plus 2% Tide Water Nets $1.220,991 Profit In Three Months Special Dispatch to The Star. NEW YORK, April 18.—The Tide ended March 31, 1935, a consolidated net income of $1,220,991 after all charges, reserves and Federal taxes, equal, after dividend requirements on the 636,222 shares of 6 per cent cumulative convertible preferred stock outstanding, to 5 ceats a share on the 5,631,437 common shares outstanding. For the corresponding period 1934 the company had a profit of $1,430.- 962, equal, after preferred stock divi- dent requirements, to 8 cents per common share on the 5,627,577 shares then outstanding. ‘The Tide Water Oil Co., a major subsidiary, reports for the three months ended March 31, 1935, a net profit of $571,006 after all charges, reserves and Federal taxes, equal, after dividend requirements on its 5 per cent cumulative convertible pre- ferred stock, to 15 cents a share on the 2,191,823 shares of common stock outstanding. In the corresponding period last year the company had a net profit of $1,011,969 or 35 ceuts a share on the common stock outstand- ing. ‘The Associated Oil Co., the West Coast subsidiarys reports a profit of $932,300 for the three months ended March 1, 1935. This is equal to 41 cents a share on the 2,200,412 capital shares outstanding. In the corre- sponding period last year the com- pany reported & net profit of $718,208 or 31 cents a share. + | slightly higher. Water Associated Oil Co. and suf- | sidiaries report for the three months | SPECIALTIES GAIN ONSTOCK MARKET Eastman Kodak Forges Up 8 Points Before Losing Part of Advance. BY VICTOR EUBANK, Associated Press Financlal Writer, NEW YORK, April 18.—Scattered specialities pushed up substantially in today's stock market and the re- mainder of the list, generally, dis- played an improved tone. Eastman Kodak was a leader, spurting about 8 points before yleld- ing some of its gains. Coco-Cola also jumped 5 and Du Pont and Allied Chemical around 3 each. Among other gainers of 1 to more than 2 were North American preferred, American Can, American Telephone, Case, Briggs, Houdaille-Hershey, American Agricultural Chemical and Congoleum. Such issues as United States Steel, Consolidated Gas, Santa Fe and Gen- eral Motors were unchanged to Firmness prevailed in the final hour. Transfers approxi- mated 800,000 shares. American Agricultural Chemical re- sponded to a bright first-quarter earn- ings report. The company showed a net profit of $2.28 a share against $1.26 for the corresponding 1934 period. Gulf States Steel also revealed first quarter net of $30,149, compared with a loss in the same period last year of $9,813 Other earnings statements indicated business improvement. Several of the mining issues again ~ | attracted attention when the price of | imported bar silver for commercial use was raised 53 of a cent an ounce to 67% cents. The white metal re- cently has displayed reactionary tend- encies after its previous sharp ad- vance. London bar gold was stepped up to an equivalent of $34.83 an ounce, The official call money rate was re- newed one-fourth of 1 per cent. The opinion was voiced by some analysts that the extremely low rates for money will sooner or later bring a substantial expansion of invest- ments in dividend-paying common stocks. At the same time it was pointed out that low money charges are due to a great extent to poor demand for funds for commercial and industrial purposes. Bankers believed that money rates may stiffen when the Government's refunding program is out of the way. Mar]\els to Close For Good Friday, Banks to Be Open | By the Associated Press NEW YORK, April 18.—Customar: observance of Good Friday will be marked by a general suspension of business on security and commodity exchanges in the United States and abroad on that day. In this country, the banks will re- main open. While the New York Stock Exchange and other security markets will be open on Saturday, the leading commodity exchanges here will remain closed until Monday. Many of the European exchanges will be closed until Tuesday. The local foreign exchange market will function on Priday and Saturday, but small dealings are expected in view of the general suspension of business abroad. FEDERAL LAND BANKS NEW YORK. A 8 #— LoV, JORK. Avril 18 (P .—Federal (Quotations as of 2 o'clock.) v 1041-31 Nov July 314 May NEW YORK BAR SILVEB NEW YORK, April 18 (#).—Bar silver firm. 5, higher at 675%. OFFICE EQUIPMENT WE SELL, BUY or EXCHANGE Addine Machines tectors * Flies Slrtl Cabinets BAUM'S FURNITURE HOUSE 1416 Eye St. N.W. Ph. NA. 2184 BRADLEY, BEALL & HOWARD Chone Na. 0271 Southern Bidg. Established Over 35 Years Avplications solicited for loa: town. centrally located business at 5% D. F. McCONNAUGHEY _Union_Trust_Building. National 0827, DIRECTORY COMMODITY BROKERS COTTON Jiomber B T Cotton Sxchan oy & co e o o GRAIN Members Chm(o Bonm w Harriman e Co o estheim: l"r RUBBER—HIDES METALS—SILK Members Commodit; b Harriman, & K - "‘X' & Westheimer A ‘co IA L1 LOANS ON HOMFS Monthly Payments as Low as No Renewals COLUMBIA BUILDING ASSOCIATION 716 11th St. N.W. ‘Houdaille-Hershey Corp. — March class B share earnings were $1.02 vs. 18 cents. Foderal Home ' Losa’ Bank S7stem