Evening Star Newspaper, April 30, 1935, Page 14

A—14 ¥¥% FINANCIAL. THE EVENING STAR, WASHINGTON, D. C., TUESDAY, APRIL 30, 1935. FINANCIAL, [LEANNGS SHOW [TRANSACTIONS ON THE NEW YORK STOCK EXCHANGES{[][}KSAR[WX[[] SHARP RISE HERE AT SESSION'S END April Total Is $16,150,619 Number of Specialties Firm, 20% 15% Alaska Jun (11.20). 16% 7% Southern Railway.. 37 Ahead of Last Year as A i 16 ™ Southern Ratlway. 37 but Metal and Rail 2%, Alleg pf wl!DW(k) > Trade Improves. B Do Chalint 01 i 80% o Shares Ease. 146 125 Allied Chem (6).... 12715 12243 Allied Chem pf (7). 314 SEparks-Withington 32 Spencr Kellogg 1.60 | 17% 12 Allis-Chalmers. . 204 14 Alpha PortCmt (1) 7% Sperry Corp Uic) - 815 Spicer Mll 1 3% 2% Amal Lng;er. 1) . 64 48% Amerada Corp (2).. o dase 22% 13% Am Bank Note. . . 61 130 123 Stand Brands pf l7) 208 ‘s 4% 2% Stand Com Tobacco 2 ev. 1035 Stock and Low. Dividend Rate. * Adfl 00 High. 35% May Dept Str (1.60) 4 41 Melville Shoe(t2%) 3 3 Mengel Co. R 20% Mengel Co pf. 208 24'a Mesta Mach (1%).. 16 213 Miami Copper. 9% Mid-Cont Petalsc.. 4 8% Midland Steel Prod. 60% Midl'd Stl 1st pf(8) GWI 58 Minn-Hon R (13%%) 1 3% Minn Moline Pow. . 10 81 Minn Moline Pow pt 1 10% Mission Corp. 8 6 Mo Kans & Tex ! 3 10% Mohawk C M (h25c) 13 322 28 By private wire lluen. The Star. Puv 1935 Prev. 1935 Stock and 9igh. Low. Dividend Rate. 36% 82 Abrm Strauss t1.80 w- T4 4% Adams Expres: 11% 8 Addressograph 6% 4% Advance Ruml 8%, 6% Affiliated Prod Dividend Rate. 6 Simmons Co.. 13% Simms Petrol (1) 13 Sloss-Sheffield... 15% Snider Packing. 11 Socony-Vac (60c).. 20 Sou Porto R Sug (2) 140 132 Sou Porto R S pf (8. 15% 10% South Cal Ed (13%). 19% 12% Southern Pacific... 66 Add 00. High. Adano High. Low. Close. 34 34 54 5 STOCK AVERAGES Complled by the Assoclated Press. 13 14 108 15 15 Rails. —8 209 21.5 19.0 36.6 21.6 18.5 43.0 228 8.7 153.9 15 60 Util. Stocks. —4 =5 264 394 268 309 244 363 34.1 454 416 348 51.4 349 16.9 157.7 Net change ..... Today, (close) .... Previous day . Month ago Year ago .. WHAT STOCKS DID. Advances Declines . Unchanged 556 MonsantoC (1).... 21% Montgomery Ward. % Mother Lode. 17' Motor Products T4 Motor Wheel. BY EDWARD C. STONE. Business in Washington took an- % other long bound forward in April, 43 Am Bank N pt (3). 28% according to the monthly report of the Washington Clearing House As- sociation, made this noon, which re- vealed a gain of $16,150,619.90 in bank clearings over the like month a year ago. Clearings in April this year totaled $77.447,954.34 in comparison with $61,297.334.44 in April, 1934, the report shows. Further evidence that business is booming in the National Capital more than in most of the other large cities in the country is mirrored by the total bank clearings for the first four months of the present year. Clearings in that period amounted to $282,083,828.76, as compared with $228,336,430.38 in the first four months of 1934, or a gain so far in 1935 of $53,747,398.39. Clearings in April were also con- siderable ahead of March, when the total stood at $74,112,669.72. As bank clearings are considered one of the very best business barometers that can be cited, there is no chance for any mistake as to the substantial progress being recorded here. While the late Easter had a lot to dc with the extra fine showing in April, the March figures were also well above the March returns a year ago. Bank clearings in this city in the first four months of 1935 compare as follows with the corresponding months last year, according to the Clearing House Association reports kept by Manager Charles E. Bright: 1935. 1934. . $69,566,923 $55,737,297 60,956,281 49,091,924 March 74,112,669 62,209,874 April 77,447,954 61,297,334 North American Net Better, In a letter to stockholders, J. F. Fogarty, president of the North American Co., reports progress in the direction of improved net earnings. Speaking of the first quarter of 1935, he says: “While the rate of increase in operating revenues during these three months was somewhat less than that | for the full year 1934, it must be re- membered that the first quarter of the year 1934 was an unusually good one. ‘These figures indicate some stabiliz: tion in operating costs, with an | operating ratio for the 12 months ended March 31, 1935. of 56.85 per cent, as compared with a ratio of | 56.71 per cent for the year, 1934, and | a ratio of 54.22 per cent for the year, 1933. “Appropriations for depreciation reserves for the 12 months ended March 31, 1935, were equal to $1.54 per share and aggregate 13.01 per cent of total operating revenues, compared with eppropriations equal to $1.57 per share and 12.97 per cent of total operating revenues for the 12 months ended March 31, 1934. “The earnings of $9,236,291 repre- sent a decrease of 4.57 per cent from those reported for the corresponding period ended a year ago, but an in- Ccrease of 2.94 per cent over the earn- ings for the calendar year, 1934¢. On the basis of the number of shares now outstanding, the earnings per shure‘ were $1.12 for the 12 months ended March 31, 1934, $1.04 for the full year, 1934, and $1.07 for the 12 months just ended. Thus it will be seen that the increasing volume of business is now having an effect upon net earnings. However, the margin of improvement is not large and while it offers some degree of encouragement there is as yet scarcely any basis for optimistic | forecast.” \ Claim on Bank Is Refused. ‘The Nebraska Supreme Court has refused the request of the Maryland Casualty Co. that its claim of $13,000 against the failed South Omaha State Bank be given a par status with the claims of depositors. This sum repre- sents the amount the company paid the City of ‘Omaha as one of its gurety company bondsmen for deposits lost when the bank failed. The city assigned the claim to the casualty company, but the Supreme Court holds that as the city had re- quired the bank to pay the premium on the surety bond and thus depleted its assets, it did not remain on a parity with other depositors who had no security for their money. ‘The cost of living today is nearly 40 per cent above the level for 1913, while the domestic rate for electricity has been reduced nearly 40 per cent below the rate for that year, accord- ing to Dr. David Friday, eeonomist for the Committee of Public Utility Executives. In a brief filed with the Senate Interstate Commerce Com- mittee, in connection with the hear- ings on the pending public utilities bill Dr. Friday declared that electric rates for domestic use are unique in that they alone, of all the large price groups, have pursued a steady down- ward course throughout the last 50 years. “Taking the years 1910-1914 as the index of 100,” Dr. Friday said, “the price of all commodities amounted to 116 in March, 1935, the price of farm products was 112, the cost of living was 139, while electricity for house- hold use amounted to only an index of 59. Bonds Lead Exchange Deals. ‘The largest bond sale on the Wash- ington Stock Exchange today was a $3,000 transfer in Capital Traction 5s, at 98, off half a point from the last previous sale. Washington Gas Light 5s, 1060, figured in the same volume of business, three $1,000 transfers tak- ing place at 115'2. Capital Transit stock came out to- day at_19 on a small turnover and the first sale of the week. After call Mergenthaler Linotype appeared on ‘the board in a small lot sale at 28, off a half point from yesterday’s close. B. Howard Griswold, chairman of the Code Committee of the Investment Bankers’ Association, announces that January .. February ... 297 125 119 Am Brake Sh (t85c Am Brage Shpt 7). 123% 110 Am Can (15)..... o 20% 10 Am Car & Foundry. 45% 2515 Am Car & Found pf. 85% 38 Am Chain pf.. 81 66 Am Chicle (14) 31 2% Am Colortype..... 334 221 Am Comel Alcohol. 10% 6's Am Crystal Sugar.. 93% 57% Am Crystal Sug pf. 3 1% Am Encaustic..... 2 Am & Foreign Pwr. 29% Am Home Pr (2.40). 287 Am Ice CopfY6)... 4'5 Am International. 9 Am Locomotive.... 82 Am Locomotive pf. 18% Am Mch & Fy (80c) 4% Am Mach & Metals. 415 Am Mach & M ctf.. 133 Am Metal. 11 Am Power & Ligl 8% Am P&L $5 pf (1% 104 Am P&L $6 pf (l% 101 Am Radiator. . 15% Am Rolling Mills. . 66 Am Safety Raz t3% 41, Am Seating. . 5 31% Am Smelt & Ref... 103 Am S&R 6% pfi7% 63 Am Snuff (134)... 125 Am Snuff pf (6). 12 Am Steel Foundry. 88 Am Stl Fdry pf (2), 3315 Am Stores (12%).. 5513 Am Sugar (2)...... 18's Am Sum Tob (1) 9874 Am Tel & Tel (9) 7212 Am Tobacco (5). 74*% Am Tobacco B (5). 25 Am Type Fdrs (k) Tia Am Wat Wks (80c¢ 47x Am Woolen 351 Am Woolen pf...... 8 Anaconda Copper... 16% Anaconda Wire.... 36 Archer-Dan M t1%. 31, Armour of Illinois. 56 Armour Il pr pf (6) 4 Arnold Constable. . 3% Artloom Corp . 713 Asso Dry Goods. 35% Atch To&S F (h2 66% Atch To&S F pf (5) 195 Atlantic Coast Line 3 AtIGuif & Wind.. 21% Atlantic Ref (1)... 325, Atlas Powder (2).. 106% Atlas Powder pf (6) 111 Atlas Pow pf called. 4 Atlas Tack.. 15 Auburn Auto 21 No-oana 53 321 31 6% 208, 5614 23% 98 915 20% 3% 181 213, 160 24 To% 67 45% 116 72 137 181 9% 43 7014 24% 113% 84% 86% 6% 14% 91 454, 14% 19% 41 61 0% 6% 4 13% 554 8615 3T - I T R Y 6% 1'; Baldwin Loco (k).. 15 713 Baltimore & Ohio. . 17% 9% Baltimore & Ohio pf 105 100% Bamberger pf (61) 11415 1061 Bang & Aroos pf(7) 9% 5% Barnsdall Corp.... 19 15% Beatrice Cre (a 10415 1001; Beatrice Crepf (7). 132 114 Belding-Hem(a50c) 172 117 Bendix Aviation. . 17% 15% Beneficial Loan l% 38% 34 Best&Co(2)...... 34% 21% Bethlehem Steel. .. 7% 55% Bethlehem Stl pf 264 14% Bigelow-San Corp.. 13% 23% 111 B 19 3 30s 5 18 Bloomingdale (40c) 1008 103% Bloomingdale pf (7) 10s 61 Boeing Airplane... 17 49% Bohn Alum&Br (3). 90 Bon Ami (A)(15).. 21 Borden Co (1.60)... 28y Borg Warner (133). 9 Bridgp't Brassallc 2415 Briggs M{g (2) ... 31% Bristol-Myers 12.40 36'% Bklyn-Man Tr (3).. 1% Bklyn & Queens. 15 BkIn&Queens pf(2) 43 Bklyn Union Gas(5) 53 Brown Shoe (3). 4% Bucyrus Erie. . 81% Bucyrus Erie cv pf. 3% Budd (EG) Mfg... 23 Budd (E G) Mfg pf. 215 Budd Wheel. . 8% Bullard Co. 13% Burr Add M (60¢).. 10 Bush T Bldgpfet.. 1'% Butte Copper & Zinc 32 Byers (AM)pf . ———————— 36% California Pkg (1% 1, Callahan Zine. . 21, Calumet & Hecla 7% Campbell-Wy (a20¢) 8% Can Dry G A (40c). 9% Canadian Pacific... 30% Cannon Mills (2)... 4% Capital Admin (A). 3214 Cap Adm pf A (3).. 45% Case (J I) Co.. 83% Case (J1) pf (4). 36% Caterpil Trac(f1% ) 19% Celanese Corp..... 11% Celotex Co pf (k).. 22% Cent Aguire (1%).. 34 Central RRof N J. 38% Cerro de Pasco (2). 3% Certain-Teed Prod. 37% Ches & Ohio (2.80). 36 Chesap Corp (3)... 1 Chi&EastnIll (k). % Chi Gt Westn (k).. % Chi MillStP&P... % Chi Mil St P & P pf, 2% Chi & Northwest. .. 4% Chi Pneumatic Tool 20 Chi Pneu Tool pf... 1 ChiR1&P (K).... 1% Chi R 1&P 6% pf(k) 25% Chickasha C O (2).. 9 Chile Copper.... 31 Chrysler Corp (1).. 24 20 City Ice & Fuel (2). 98% 87 Citylee& Fpf6%. 5 3% City Stores. 121% 1121 Cluett Peb pf (7)... 209 1617 Coca-Cola 8). 7% 53% Coca-Col 14% 42% -P-P pf (6). 9 Collins & Atkmar. . 69% Collins & Aik pf (7) 14 Colo Fuel&Iron (k) 5 ColoF&1pf(k)... 3% Col Gas & Elec. 35% ColG& Epf A (6). 31 ColG&EDpfB(5).. 34% Colum Pie vte (m1) 67 Colum Carbon (4).. 3915 Comcl Credit (2).. 29 Comecl Cred pf (1%) 110s 11594 1097% Comel Cred 1st(6%) 2508 29% Comecl Credit(B)(2) 60 63% 564 Comel Inv Tr 12%5.. 23% 17% Comcl Solv (t85¢).. % Comw-& Southn... 29% Comw & Sou pf (3). 27 Congoleum-N (1.60) 9 CongressCigar.... 7 Consol Cigar. 71 ConCprptw 4% Consol Film....... 15% Consol Film pf (j2) 15% Consol Gas N Y (1). T2% Consol Gas pf (5).. LT efforts are being made to place the investment code under the Securities Exchange Commission, taking it away from the N. R. A. There is wide senti- ment in favor of the move, the aim being to get all investment matters under one Government authority. Secretary Morgenthau announces that approximately $605,000,000 of the Pirst Liberty Loan bonds had been exchanged up to Monday for the 1% per cent Treasury notes series A-1940 and $305,000,000 for the 27 Treasury bonds of 1955-60. Subscrip- tion books will remain open until further notice. The Interstate Commerce Commis- sion hes authorized receivers for the Seaboard Airline Railway to, issue $27,859,000 of receivers c cates, $13,615,000 to be exchanged for ma- tured certificates and $13,983,000 to be exchanged for matured and ma- turing installments of equipment trust obligations d the Seaboard and of the Georgia, Florids & Ahblml Rallroad Co. 615 Consol Oil. 21 Consol R R Cuba pf 3 Consol Textile. .... 9% Container Corp (A) 3% Container Corp (B) % Contl Baking (B).. 46% Contl Baking pf (4) 62% Contl Can (2.40)... 28% Contl Insur (11.36). % Contl Motors...... 15% Contl O Del a12%e¢. 41% Corn Ex Bk&Tr (3) - 62 Corn Prod Ref (3). 4% Coty Ine... 35% Cream of Wht "K . 23% CrownC &8 (1) 5% Cuban-Am Suga: 61% 40% Cuban-Am Sug pf. ‘47% 41 Cudahy Pkg (2%). 2% 15 Curiis Publishing.. 101 89% Curtis Pub pf (7).. 2 Curtiss Wright.... 6% Curtiss Wright (A) 20% 16 Cutler Hammer ... 31 22% Deere & Co. . 23% 19 Deln&Cop!(jloe) 43% Itumhnu&!m 19% 11 Del Lack & West. .o 6% 39% 29% T ,s...§s.....-_..:—a¢=._ = 3 PPN - o ® wIN 10% - =1 e 3% 122 122 +3 201 5d% 1614 104 10% 8 1% 8 1927 low ..... 8'ock and Loy Dividend Rate. 5 Detroit Edison (4). 2614 Diamond M (11.70). 34% Diamo‘d M pf 11.70. 34'a Dome Mines (14)... 8% Dominion Strs(1.20 26' 1714 Douglas Aircraft 991, K6% Du Pont de N (2.60) 1124 104 High, 8 31y 3910 2% 125 8 3%, Eastern Roil Mills. 146 110'% Kastman Kod (5).. 155 141 ou 16% Eaton Mfg (1).. 1913 Electric Auto Lit 3% Electric Boat. .. 1% Elec Pwr & Lll:ht.. 213 Klec Pwr&Lt §6 pf. 3 Elec Pwr&Lt $7 pf. 39 Elec Stor Bat (214) 52% Endicott-John (3).. 14 Eng Pub Sve $5 pf. 10ty Eureka Vac Cl(80c) 16% Evans Auto (aTic). 6% 3 Fr T 81, 494 601y 211 12% 23% 5 215 Exchange Buffet. 9% 4 FairbanksCo pf. 258 17 FKairbanks-Morse. . 9%, 54 Fed Lt & Trac. Fed Motor Truck 16 Fed'd D Strs (11).. 281, id Ph F Ins(11.35) 134 Firestone (40c).... 8415 Firestone pf A (8). 46 First Nat Strs(2%) 2y Follansbee Bros (k) 20% Food Mach (1). 974 Foster-Wheeler. 60% Foster-Wheeler pf. 4% Foundation Co 19% Fourth Nat In aé0c. 8% Fox Film (A).... 17% Freeport-Tex; 12 4% Fuller Co 2d pt 24 1 Gabriel Co (A) T% '3 Gen Am Investor: 38% 32% Gen Am Tranu(l%) 18% 11% Gen Asphalt. . 9ic Th Gen Baking (60¢).. T 5% Gen Bronze 3% 2 GenCable. 7 4 Gen Cable (A). . 135 127'% Gen Cigar pf (T)... 25% 20% Gen Electric (60c). 35% 324 Gen Foods (1.80).. 15 10 GenG&E6%cvplfA 66% 59%% Gen Mills (3)...... 34 26% Gen Motors (1) 117 107! Gen Motors pf 3% Gen Outdoors Ad E +4+ LH0 0 2L FF FEEIFEIP Lif14 #i ¥ sees " Si8E I+l +++++) rEF e ) [} £ FE FEF PT FR2F 9313 Gen Print Ink pf (6) 15% Gen Ry Signal (1).. % Gen Realty & Util.. 14% Gen Real &U pf ww 164 Gen Refracctfs.... 14 Gen Stl Casting pf. 12 Gillett Saf Raz (1). 701 Gillett Stf R pf (5). 2 Gimbel Bros. 18 Gimbel Bros p! 23% Glidden Co (11.. 114 Gobel (Adolf). 14% Gold Dust (1.20)... '3 Goodrich (B F) . 15% Goodyear T& R.... 2% Gotham Silk Hose. 1!y Graham-Paige..... 5% Granby Consol. 2% Grand Union. 17 Grand Union 18% Granite City Stl (1) 26 Grant (W T)(11%) 9% Great Northern pf. 127 9% Great Nor Ore (50c) 31 26% Grt West Sug (2.40) 132 119 Grt West Sug pf(7) -_ 27 21% Hackensack W (12 6% 34 Hahn Dept Stores. . 70 55 Hahn Dpt Storespf 9'3 6% Hamilton Watch... 101 Hanna (M A)pf(7). 16 Harb Walker (1)... 99% Harbison & W pf(6) 5'3 Hat Corp (A) 81 HatCpfww 1% Hayes Body 85 Hazel Atlas Gl (a) 71 Hercules Pw (13% 127,122 Hercules P pf (7).. 114'5 104 Hershey C pf (15).. 9% 5% Holland Furnace... 400 338 Homestake M (136) 14’ 613 Houdaille-Hersh B. 91a Houston Oil....... 11 Houston Oil (new). 43 Howe Sound (3). 2% Hudson & Manhat.. 6% Hudson Motor Car. 3% % Hupp Motors . —_— 17% 9% Illinois Central.... 57 40 11l Centlse lines(4) 33 244 Indus Rayon (1.68) 77 60! Ingersoll-Rand (2). 5% 46% Inland Steel (1).... 3% 2% Inspiration Copper. 5 4 Insur ShctMd l4c. 16% 8% Interboro Rp Tr (k) 7 4% Interlake Iron..... 6% 3% Int Carriers Ltd 20¢ 33 227% Int Cement (1).... 34% Int Harvester (60¢) 144 135 Int Harvester pf(7) 2% 1% Int Hydro Elec (A). 27% 22% Int Nick Can (60c). 3 1% Int Paper & Pw (A) 98%5 Int Print Ink pf (6) 10% Int Rys Cent Am pf 29 IntSalt (1%) 2 Int Shoe (2). 17 Int Silver.. 605 Int Silver pf (d). 5% Int Tel & Tel. . 9 Interstate Dept Strs 29 1Island Creek C (2). B 1 :||++|I|I+f0- & EFEEEFIIIVEL - 1L+ ++ F RE EES | | | | | *®] 4 - > FEOFE ] w8 wx rxsd rese 1+ + 42 30 Duquesne Lt 1st (5) 100s 112 Eastman Kod pt (6) 110; 59 112 107 Elec Auto Lite pf 7, 100s 111 14 . 110 M FRENAR T BRNONYE ANNNNAS NS - I3 57 57% 3 204 54% 16% 104 +5 19 49 Jewel Tea (3) 3814 Johns-Manvil 50 Jones&Laugh 7%Dpf 15% Kayser(J)& Co 50c. 10% — % 8 2% 13w 117 184 18% 11% 3 Keily-Spring T (k). 6 Kelsey-Hayes (A). 314 Kelsey-Hayes (B). 14% Kelvinator (170c).. 13% Kennecott C (60c). 10 Kimberly-Clark. 22 19% Kresge (SS)(1). 113 103 Kresge (S §) pf ( 69% b56% Kress (S H)(f1). 28% 231 Kroger Gr&Bk 1 28% 24 Lambert Co (3). 5% Lane Bryant.. . %% Lee Rub&Tire (Sl)c) 10% Leh Port Cement. 6% Lehigh Val Coal pf. 5 Lehigh Valley R R. 67% Lehman C (12.65).. 14% Lehn & Fink (12). 21% Lib-O-Ford G11.20. 94% Ligg & Myers (15) . 93% Ligg & Myers B(15) 24% Liquid Carb (t1%). 31% Loew's Inc (2). . 1 Loftinc..... 1% Long Bell Lum @A) 33 Loose-Wiles (2)... 130 126 Loose-Wiles pf (7). 21% 18% Lorillard P (12.20). 139 124 Lorillard P pf (7). -1 1% - % 12% %. 47% 34 Louisv & Nashv(3). 18% 12% Ludlum Steel...... —————— 40 MacAndrew & F (13 28 McCall Corp (2)... 7% McCrory Strs A (k) 36% Mcintyre Porcu (2)x 90% McKeesport T P (4) 6% McKesson & Reb... 35% McKesson & Rob pf 815 McLellan Stores (k) 20% Mack Truck (1).... 30% Macy (R H)& Co(2) 18% Magma Copper (2). 31 Mandel Bros....... 13% Man Elevm g (k) .. 4% Marancha Corp.... 5% Marine Midld (40c) 25% 20 unun-nochuuu) 6% Marshall Field..... 32 23% Mathieson Alk(1%) - »! 250 : S 953 29 3! High. 7 1 39% 7 6 76 2% 42 1 2 4 140 162 1 3 1 4 2 1 1 3 2 » - S 5 17% Gen Print Ink(1.20) 170s 2015 8'g 25 9T 111 5% 138 150 19% 19% 111 5% 914 4% 24 6% Ty 9% 75 618 _———————o | Bales— Add 00. % +i 2% + +11 1+ I+114+0 e o+ FSEFrErIE +10+40 04 ARNE S ORESTEEFEIEE 95 ki3 12614 12613 12614 11 39§ 39!& 395 11 1 lll T8 Th 1% 15 2% Bl 3t Th 1% 2.7\/. 1 145 145‘1 3 81 2% 18 30s 105 208 10% 1% 1% 26 1% 103 10% 32% 45% 23% T0% 67 9 30 53 46 85 1% 184 11% 21 t-n-»-:—unlebouu—uu'nn o = 136 Mathieson A pf (7). Nll 508 105% 584 111 % ~ Net. Low. Close. Chge. K & LI+l +4+141 % % -1% | + - + IV +++11 10114 EEEFFEFIE P - % EFEPEEER 113 61 9 32y 36% Mullins Mfg pf 4% Murray Corp. 30 *Myer(FE)&Co 1.60, 19 11 8% 63 30y 22y Nash Motors (1) Nat Aviation. Nat Biscuit (2).... Nat Biscuit pf (7).. Nat Cash Reg A hoc Nat Dairy Prod 1.20 11 Nat Dept Store (k). 3 Nat Distillers (2).. 38 Nat En & Stpg (h1) Nat Lead pf (6) B.. Nat Powr & Lt (80e Nat Steel (11%). Nat Supply Co... Nat Supply Co pf. 4 Nat Tea (60c). Newberry (J J) 1. N Y Airbrake.. NYCentral RR... N Y Chicago & St L N Y N H & Hartford N Y N H & Hart pf. 4« N Y Ontario & West N Y Shipbuilding. . N Y Steam pt (6) Noranda Mines ( North Am Aviation. North Am Co (1)... s North Am Co pf (3) North Am Ed pf (6) 13 Northern Pacifie. .. 357 Northwest Tel (3). 2‘. 1% Norwalk Tire&Rub 124 9% Ohio Oli (h4ic).. 4% 1% Oliver Farm Equip. 26% 158 Oliver FEprpf A.. 111 Otis Elevator (60c) 4'4 Otis Steel 35 20 57 38 Outlet Co (2) 80 Owens-Ill Glass(4). 187% 134 PacificG&E (1'2). 28% 19 Pacific Ltg (2.40). 2 12%, Pacific Mills (h30¢) 1 70 Pacific Tel & Tel (6 1208 111'3 Pacific T & T pf (6) 140s 7 Pac W'n Oil (hile). 1 4 Packard Motor...,. 13 « Pan American Pet.. 1 24 Par-Public ctfs (k) 60 Park Utah 193 Pathe Exchange. . . Pathe Exchange(A) + Patino Mines. . . 2 Penick & Ford (3). Penney (J C) Penn Coal & Coke. . Penn Dixie Ceme Penn R R (1).. Peoples Drug S Peoples Gas Chi. Petrol Corp (halc). Phelps Dodge (h7ic PhilaCo $6 pf (3).. Phila & Read C& I. Philip Morris (1).. Phillips Petrol (1).. Pierce Oil Pierce Petroleu 348, 31 Pillsbury Flour 1. 60 10%a 7 Pitts Coal Y 513 Pitts Screw & Bol! 37'% 24%; Pitts United C pf... 11% 63 Plymouth Oil (1).. 11y 6l Poor & Co (B). . 16% 6k Postal Tel & Ca pf. 3t 1 Pressed Steel C (k) 495 42% Proc & Gamb (133). 17% T 128, 23 1% 35% 13% h 4in 46 19% ) Tt L | 12012115 Proc & Gam pf (5). 30ty 20% Pub Sve N J (2.80). »Tla 62% Pub Sve N J pf (5). 73 PubSve N J pf (6). 85 Pub Sve NJ pf (7). 100 PubSve NJpf (8). 99 Pub Svs E&G pf(3). $8 Pullman inc (3). 5% PuraOil.. 49% Pure Oil pf. 8% Purity Bakeries (1) 4 Radio Corporation. 6% 35% RadioCorppf B... 49 1% Radio-Keith-Or (k) & 4% R R Sec 111 Cent.... 60s 16!3 Raybestos-Man (1) 29%» Reading ( ¥ Remington-Rand 71% Remington-R 1st pf 1 24 Reo Motor Car..... 201 9 Republic Steel. . 28 28% Republic Steel pf.., 28 Republic Stl pf ct 5's Revere Copper. 17%3 Reynolds Metals 124 Reynolds Spr (40c) 43w Reynolds Tob B (3) 3. 217 Roan Antelope Ltd. 3 29% Roy'l D h1.35 3-10c. n 46 110 104% Sateway Strs pf (6) 114 110 Safeway Strspf (7) 17% 10% St Joseph Ld (40c). 6 Savage Arms.... 22 Schenley Distillers 1% Schulte Retail Strs. 8 Schulte R Strspf.. A Seaboard Air L (k). 20% Seab'd O1l Del (11). 3% Seagrave Corp..... 3 31 Sears Roeb’k (7dc). % Servel Inc T4 Shattuck ( 512 Shell Union Ofl. . 63« Shell Union Ol pt. 8% Silver King C (40c) 37 Safeway Stores (3) 4 508 5 8y 4 Th 8% 19% 4% 1'% Stand Gi 5% 1% Stand G 16 6 Stand G 33% 27% Stand O 25% 23 Stand O 32 28 Stand O 4315 35% Stand O 10% 5 214 Stone & 3 21 69% 6012 Sun Oil 16% 11 9% 22 36% 4% 1% 19% b5 51 4% 2% Thermo! 5 214 Third A 17% 3 109 15 100 28% Timken 4% ] % 1% Tri-Con 82's Un Paci! 79'; Un Paci 207% 9 4'y 35 T 14% 19% 3 USInd S Lea 914 59 | 145 2% 1% 19% 12 2 1 Univ Pi Univ Pi Util Pw L R SR 1 218 13 Vadsco i+ 344 Vick Ch 18 EFFSEE FiEE 1+ 114 1% 14 2 Warner 14!y Warner Warren Wesson Wesson Walwor Western ‘Weston White M White S White § &Fr 35 Wright FlH I+ 04+ 140 24 44 FFOFEEFIPS 2% 21 4 Approximate Sales I e T FEIFEE Total in stock e Parable in c & Plus 4% in T A2 | e m B B 17% in_stock. 1144 121 Starrett (L 8) a25e. 58% Sterling Prod (3.80) 31 Sterling Secur pt. 6% Stewart-Warner. Studebaker (new).. Superheater (50¢) . 3 1% Superior Ofl. 5 Superior Stael 16% Texas Corp (1).... 288 Texas Gulf Sul (2). 3% Tex Pac Coal & Oil. 8'3 Tex Pac Land Trust Thatcher Mfg(a2ic Thatcher M pf (3.60 13% Thompson Products 15 1% Thompson Starrett. 2 7% Tide Wat Ass=o Oil.. 84 Tide Wat A O pf(6) Tide Wat Oil pf (5). 4% Timken- ransamerica (25¢) ans & West'n Air * 44 Truax-Tra Coal.... 3's Truscon Steel 44 UnCarb&C1.60 14% Un Oil of Cal (1)... Un Tank Car (1.20). ited Afrcraft.... ited Air L vtc. .. 21% United Bisc (1.60).. 46 United Carbon 2.40. 115 United Corp. . 20%, United Corp 9'; United Drug. 3% Lnned Elec Coal. .. ited Gas Imp (l) ited Gas 1 pf (5). ited Pcs D W pt. S Freight (1).... 403 US Gypsum (1). S Pipe & F (50¢). P&F 1st pf 5 Realty & Imp U S Rubber 1st pf.. USSmelt &R (16). U S Steel pf (2) 5 Univ Leaf Tob (2). 1334 Univ Leaf T pf (8). 11% Vanadium Corp.... 114 Van Raalte.. 2!3 Va-Car Chemical... Va-Car Chem 6% pf 27% Walgreen Co (1.20) Walgreen pf (633). Ward Baking (B) Wilson & Coal2ize. Wilson & Co pf (). Woolworth (2.40).. 11% Worthington Pump 180,000 « .+, 540,000 2:00 P.M.. Dividend rates as given in the above table are payments based on the latest quarterly or hait- SURIL of trading less than 100 shares h Paid I s panies reported in r ru:el'!x.lnn or x. stock, x Ex-dividend as & Elec’ &ES4pL., &E$7pf.. il of Cai (1) il of Ind (1) il of Kan (2 il N J(11%) Webster... (11). % - % id Co. venue % ‘. Detroit.... RB1) . t1Corp..... fic (6).. fic pf (4). Total issues. BY VICTOR EUBANK, * Associated Press Pinancial Writer. NEW YORK, April 30.—The stock market stuttered incoherently tod: as profit takers, expecting a sizeable corrective reaction, went home with some of their gains. A number of specialties were firm throughout, but the metals and rails dipped. The closs was irregular. Transfers approxie mated 850.000 shares. That the trading volume again dropped below the million-share fig- ure was pleasing to bullish prophets, At the same time more than the usual discrimination was in evidence. A late rally in corn at Chicago helped | the grains, which were soft most of | the 'ay. Cotton was rather neutral. | Bonds were mixed, as were leading | foreign exchanges. Shares of National Steel and Phil- | lips Petroleum steadied when their | first-quarter statements showed al- |most double the profits of the 1934 period. Gains of fractions to a point or so were recorded by Inland Steel, % | Air Reduction, United States Gypsum, Johns-Manville, Allis Chalmers, Ana- conda and Standard Oil of New Jer- sey. A 5-point jump was enjoyed by Coca-Cola. United States Smelting lost some 3 points, and others down around 1 to | 2 included American Smeilting, Cerm De Pasco, Silver King, Union Pacifie, Pullman, American Telephone, West- ern Union, Eastman Kodak, American Can, Case, Continental Can, Colum- bian Carbon, United States Steel and k. e -% L. % Alcohol (2) ther (A)... i+ 208 145!5 14 17 1% pe & Rad. .. e & Rad pf r&Lt(A).. +1495000 0 —_— Sales Corp. em (12.40). el 3 oo th Co.... Bros Pic... Bros Pic pf Bros. O&St1y. O&Spf4.. NN E 0 West Pa Elec (7) A West Pa Elec pf (7) West Pa Pw pf (6). n Pacific. ... Western Pacific pf. Western Union. ... Westingh'se A B 50¢ Westingh'se Elec. . Westh'se 1st pf 3% Elec Inst.. Westvaco Chi (40c) + Wheel Stl pf (j30c) lotor White R’k M 8 1.40, ewing Mch. ew Mch pf. LEed Aero. 3% Wrigley W jr(131;) 173, Yale & Towne (60c) 2% Yeilow Truck 23% 18 YoungSp& W tly 13 Youngstown S&T.. —_— 1% Zenith Radio...... 3 Zonite Products.... N of Stocks on the N. Y. Stock 12:00 Noon. + 640,000 sales for the day, , 860,000 the annual vesriy 1Partly extra ast year—no regular rate. b Payable in asn or stock f Plus $1 in special preterred OCK e id this year T j Accumulatea belng reor- 1Pius in stoci LAMONT IS ELECTED ‘ TO SANTA FE POST, By the Assoclated Press. NEW YORK, April 30.—At the an- nual meeting of Atchison, Topeka & | Santa Fe held today for the election of officers other than members of the board of directors, Thomas W. Lamont of the banking house of J. P. Morgan & Co., was elected a member of the Executive Committee to succeed Charles Steele. E. J. Engel, formerly vice president, was elected executive vice president. H. B. Fink, assistant treasurer at Topeka, Kans., was elected secretary and treasurer to succeed E. L. Cope- | land, retired. STANDARD CAP & SEAL PROFITS AT $150,346 By the Associated Press. NEW YORK, April 30.—Standard Cap & Seal Corp. reports consolidated net income for the three months end- | ed March 31 of $150,346, after charges, equal to 72 cents a share on the com- mon stock compared with $142,171 or | 69 cents a share on the common m[ the same quarter last year. =g PENNSYLVANIA WATER & POWER INCOME GAINS Spécial Dispatch to The Star. BALTIMORE, April 30.—Net in- come of the Penansylvania Water & | Power Co. for the first three months of this year amounted to $540,085, | after all expenses, depreciation, taxes and other charges, equivalent after allowance for the preferred shares, to $1.24 a share on the company's com- mon shares, according to report issued from Holtwood today. ‘This compares with net of $527,258, or $1.21 a share on the common re- ported for the initial quarter of last ar. FGM income for the period was $1,446,057, compared with $1,380,740 for the 193¢ period. SR Corp. — March | Reports Profit of $3,367,632 for NATIONAL STEEL NETS $1.56 A SHARE March Quarter, Against $1,642,328 in 1934. By the Associated Press. Intertype quarter | common share earnings were 17 cents | March % 149% — % n.mm NEW YORK, April 30.—National RESERVE BOARD ISSUES CONDITION STATEMENT By the Associated Press. The Federal Reserve Board's condi- tion statement of weekly reporting member banks in 91 leading cities gave the following summary of the prin- cipal assets and liabilities April 24, | together with changes for the week and for the same week last year, in mililons of dollars: April Loans and invest- ~ 18 April Agril 2 Steel Corp. reports for the March (Lo quarter net profit of $3367.632 after charges, depreciation, depletion, in- terest and taxes, equal to $1.56 a share on the capital stock. This compares with net profit of $1.642,328, or 76 |- cents a share, in the March quarter of 1934, INSURANCE STOCKS NEW YORK. April 30 uh.—New York | sefimity Denters ‘Association: e Aetna Cas (213a) P02 Actna Fire (1.6 51 Aetna Life ( Agricultural Am Ins Newa 20 'w | 1 'm‘ 301, 2 | Balt Amer . 10 B Boston (16) 6 Garolina (1.10a) Gitv of N ¥ n Conn Gen uu ( 80) Fid & Dep (126 .. Firemen Premkcire 1108”0 Glen Falls (1.60) Glote & Rut. For River (708) nix (212a) . n W hamter (1 dl 3 extn B o e1d so tar this year. .___>___— | capital dealers: In New York. . U. 8. Govemmem dire ect 1 tions ..... Obligntions”* Taily guatanteed by Government .. Other securities. | Reserves with Ped- Reserve 7.336 -En in i NE! demlnd de- its pos Time deposil Government posil | Do from” »mks | Due to_ banl Borrowinga: trom zdtrl{Reservc O fhicludes other securities. ——e PHILLIPS PETROLEUM REPORTS LARGE GAIN By the Associated Press. Du Pont. Among those about even to a trifle lower were National Distillers, | General Motors, Chrysler, Deere, Sears | Roebuck and Public Service of New Jersey. As’ the market closed the Inland Steel Co. announced a 50-cent divi- | dend, compared with 25 cents paid in | the three previous quarters. The | company also reported earnings for the first quarter of $2.05 a share, as against 92 cents in the corresponding quarter last year. New York Cotton | By the Associated Press. NEW YORK, April 30.—Cotton fu- tures sagged a few points today in | sympathy with easiness in stocks and | wheat and the possibility of showers | in dry Western areas. Offerings were restricted, however. and the decline in July from 11.83 to 11.75 uncovered sufficient trade buying to cause rallies of a point or so. At the beginning of the last hour quotations were gen- erally 3 to 5 points net lower. Putures closed steady, 1 higher to 1 lower. May arch ..... 11 2 Spot steady. m.aauu 12.20. Cottonseed Oil Bleachable cottonseed oil futugps closed easy, July, 10.60B; September, 10.63B: October. 10.50B. Sale, 13 contracts. B—Bid. Liverpool Quotations. LIVERPOOL. April 30 (#.—Cotton, 12.- 000 bales, inciuding 10.500 American. 8pot moderate business done; prices 3 higher: (quotations in ict &y Tak 708 ing R striet low middling diing W 5% ®ood nrdm & strict 6.93 A 6.15; January. CITIES SER SERVICE NET IMPROVES IN YEAR By the Associated Press. NEW YORK. April 30.—The Cities Service Co. in its financial statement for 1934 reports consolidated net earn- ings before depletion and deprecia- tion of $61,593,921 against $59,784.932 in 1933. Gross operating revenue for the year amounted to $173,835,020 against $153,806.755 in the previous year. The company reported that funded debt and notes payable were reduced $20,316,000. Reserves for depletion and deprecia- tion out of current earnings amounted to $22.297,000 compared with $17,744,- 000 in 1933, the report stated. Total production of crude oil by operating subsidiaries was 30,840,707 barrels, the highest reported for the properties for any year except 1930, Regarding operations by the elec- tric light and power subsidiaries, the report said that “from the viewpoint of total electric generation and sales in kilowatt hours, the year 1834 showed satisfactory improvement.” In certain of the properties, it was stated, the sales of electricity were greater than in any year since 1930, and in a number of instances during the late months of the year monthly outputs in kilowatt hours approached the records of corresponding months in pre-depression years. BALTIMORE STGCKS Special Dispatch to The Star. BALTIMORE. Md.. Aptil 30— les, High. Tow. Oloss: 3 Arundel Corp .. ]p'l 1687 lz’h MONTREAL SILVER. MONTREAL April 30 (p—Silver fu- tures closed firm. Sales. 201 contracts. Close. FOREIGN EXCHANGES. NEW YORK. April 30_(P.—Foreign ex- change l"ellllar, Orclt Brif April 30.—Phillips | 40.43: Petroleum Co. reports .for the first ¢ | quarter net profit of $1,542,335 after charges, taxes, interest and deprecia- tion, equal to 37 cents a share on the stock compared with net profit of $726,125, or 17 cents a share in the same quarter last year. GOLD STATEMENT. NEW YORK, April 30 (#).—Gold arrivals in New York up to the close Thatcher Manufacturing Co.— preferred share earn- ings were 77 cents vs. $1.27. of banking hours yesterday amounted to $645,100 from India. no exports. 2 exi g S"Montreal in New ork in. Montieal. 100.50 n—Nominal. AL 125 TONS OF LEAD SOLD. NEW YORK, April 30 (#).—The 8t. Joseph Lead Co. reports that 125 tons of pig lead from Southeast Mis-