Evening Star Newspaper, May 1, 1935, Page 18

FINANCIAL.) THE EVENING STAR, WASHINGTON, D. C, WEDNESDAY, MAY 1, 1935. FINANCIAL. PHONE EARNINGS Prev. 1935 High. Low. Dl'ldmfl l-lu. Add 00. High. % 1 an 1938 Btock and Low. Dividend Rate. 6% Marshall Field Net. Low. Close. Chge. % + % 28 unclmonn Bales— Add 00. High. 7 T% ‘19% + % 7% 5% Shell Union Ofl.... 79 63% Shell Union Oil pt., I STOCK AVERAGES Complled by the Associated Press. 9% BELOW YEAR AG0 March Total at $148,588 Despite Gain of 1,110 D. C. Subscribers. BY EDWARD C. STONE. In spite of a gain of 1,110 tele- phones in use in the District of Co- lumbia in March, total net earnings of the Chesapeake & Potomac Tele- phone Co. were slightly lower than the balance before dividends last year. Net income amounted to $148,588 as compared with $156,087 in March, 1934, according to the monthly state- ment just filed with the Public Util- ities Commission. Operating revenues were higher, $829,730 against $820,366, but oper- ating expenses were also higher, standing at $594,370 as compared with $582,943 in March a year ago, leaving net operating revenues of $235,360 in comparison with $237,423 in March last year, Taxes called for $61,415 compared with $61,016 a year ago, leaving a net operating income for March of $173,945 against $176,407 in the like month of 1934. The operating income was slightly lower this year, making total gross income stand at $173,868 in compari- son with $156,087. From this item in- terest deductions were made of $25,280 against $20,592 a year ago, leaving-the above mentioned net income of a lit- tle less than $150,000 for the month. 11,225 Gain in Phones. ‘Washington was served by 192,549 telephones on March 31 as compared with 181,324 on the same date last year, a net increase of 11,225 tele- phones during the past 12 months. Telephone calls increased in March, the report shows, there having been 21,210,000 calls during the month, as compared with 21,203,000 calls during march, 1934 Pigures for the first quarter were also filed with the commission, show- ing C. & P. operating revenues of $2,458,63¢ while this total last year stood at $2.415442, Higher operat- ing expenses offset the gain, being $1,744 471, versus $1,685.656 a year ago. Net operating income for the first quarter totaled $529,249, against $543,361 in the first three months of 1834, a small decrease of $14,112. Interest deductions from total gross called for $74,622, against $65282 a year ago, leaving a net income for the quarter of $454.406 in comparison with $478,941 in the same period last year, or a decrease of $24,535. Telephone calls increased substan- tially during the first quarter of this year, 62,152,000 conversations being recorded, against 60,216,000 in the like period in 1934. The increase in tele- phone calls backs up other reports showing a substantial increase in business in the Capital in the first quarter of 1935. Cut in U. S. Loans Is Urged. Policyholders as well as insurance men displayed keen interest in the insurance round table conference, which was held yesterday afternoon in conjunction with the annual meeting of the Chamber of Commerce of the United States. Col. Charles Burton ‘Robbins, manager and general counsel of the American Life Convention, ad- dressed the group on the subject of *Policyholders’ Stake in American usiness Stability.” BAccording to Col. Robbins, 65,000,- .000 men and women are nOW Dart- ners in the greatest of all co-operative enurprlses—hre insurance. Their average policy is $1,670 and the aver- age share of assets per policyholder is $346. The cost of management of the $22,000,000,000 of assets of the institu- tion of life insurance was only 1.1. per cent of the annual income, stated Mr. Robbins. It is apparent, said he, that the vast majority of fmuies in the United States have a very real and substantial interest in the stability of American business. With reference to the enormous governmental agencies that are en- gaged in loaning money on mortgage security, Col. Robbins pointed out that the situation has resulted in the mortgage financing business being di- vided between the Government agen- cles and private trustee enterprises. The inevitable effect of loaning policies of the Government will be to cut off investment supply of loans from pri- vate institutions and disturbing nor- mal lending operations by exciting the hope for new forms of Government credit and lowered interest rates. This is a serious matter to the millions of policyholders who have their sav- ings invested in life insurance com- panies, states Col. Robbins. He predicted that when the Home Owners' Loan Corp. has loaned all of the money that has been appropriated to that agency it will own 30 per cent of the home mortgages of the Na- tion and the Government will doubt- less soon be the largest individual owner of homes in America. . 1t is to be hoped, Col. Robbins said, that as business conditions improve the Government may gradually with- draw from the field of mortgage in- vestment and return it to the great trustee lending institutions where it belongs in order that such institutions may have a field for investment for their beneficiaries in this safest of all investments. Peoples Drug Net Lower. Peoples Drug Stores, Inc., reports net profit of $203,282 for the March quarter, equivalent after dividend re- quirements on the preferred stock to 1732 cents & share on the'common stock. This compares with $229,237, or $1.64 & share on the common in the March, 1934, quarter. Peoples Drug net sales during the quarter gmounted to $4,444,775.69, while other store income was over $65,000, making a total store income of $4,510907.80. During the period dividends on preferred stock were paid in the sum of $31,369.43, leaving a net profit available for the common stock of $171,913.05. The company’s assets and liabilities total $7,560,226.82. Washington Gas Light 5s, 1960, ‘were strong on the Washington Stock Exchange again today, changing own- ership at 115. Anacostia & Potomac first 55 moved in two $1,000 sales at 88%. In the stock division Capital Transit was a bit stronger, five shares selling today at 19. Georgetown Firm Has Record. Isaac B. Nordlinger, president of the Citizens’ Equitable Building Associa- tion of Georgetown, announced today that his company does not own a single piece of property taken over as a result of foreclosure. The very un- usual record came to light when a real estate man _telephoned the Citizens’ Equitable office and asked for a list of properties held by the association through foreclosure which might be purchased at reasonable prices. He was much surprised when fold no such list existed. The company is more than a half century old and has al- ways used great wetln':skme loans, Judging by its present status. State of Virginia will offer within the next three weeks $1,000,000 of 10- year highway certificates due July 1, 1945, In these columns ymmy 33% 28% Adam 11% 8 Addre: p) 7 4% Advance Rumle; 8% 6% Affiliated Prod (60¢ 120 104% Afir Reduction (3).. 20% 15% Alaska Jun (1. ll)). 1% % Alleg Corp (k)... 7 2% Alieg pf wllow(k) . 6% 1% Alleg pf xw (k) 146 125 Allied Chem (6)..5. 1271 1221 Allied Chem pf (7). 18 12 Allis-Chalmers.... 64 48% Amerada Corp (2).. 57% 42 Am Ag Cem Del(2). 22% 13% Am Bank Note..... 62 43 AmBankNpf(3).. 29%¢ 21 Am Brake Sh (t85¢) 123% 110 Am Can (15) 10 Am Car & Foundry. 25% Am Car & Found pf. 8 Am Chain.... 38 Am Chain pf. 66 Am Chicle (14). 22% Am Comel Aleoho! 63 Am Crystal Sugar. . 57% Am Crystal Sug p! 1% Am Encaustic 2 Am & Foreign 14 Am & For Pwptf l") 8% Am Hawaiian 8S(1) 17 Am Hide & L pf 29% Am Home Pr (2. S5 Am Ice Co. . Am Locomotive 18% Am Mch & Fy lSOc) 4% Am Mach & Metals. 4% Am Mach & M etf.. 1313 Am Metals. 115 Am Power & leht 8% Am P&L $5 pf (1%) 10% Am P&L $6 pf (1%) 10% Am Radiator...... 1345 Am Radiator pf (7) 15% Am Rolling Mills. . 66 Am Safety Raz ts% 4% Am Seating.... . 20 Am Shipbldg (2)... 31% Am Smelt & Ref... 103 Am S&R 6% pfi7% 121 Am S&M 7% pf (7). 12 Am Steel Foundry.. 331% Am Stores (v",s).. 5512 Am Sugar (2). 1261 Am Sugar pf (7). 18'4 Am Sum Tob (1). 98% Am Tel & Tel (9) 721 Am Tobacco (5).... 74% Am Tobacco B (5) .4 129 Am Tobacco pf (6). 9 Am Type Fdrs pf(k Tl Am Wat Wks (80c). 4%s Am Woolen 35% Am Woolen pf. 8 Anaconda Copp 16% Anaconda Wire 14 Anchor Cap (60c. 3% Andes Copper. . 36 Archer-Dan M 115, 118% Archer-Dan pf (7). 106% 97 Armour Del pf (7). 614 3% Armour of Illinois. 70% 56 Armour Il pr pf (6) 6% 4 Arnold Constable 13% T4 Asso Dry Goods. ... 95 807% Asso DG 1st pf(j6) 558 35% Atch To&SF (h2).. 3T% 194 Atlantic Coast Line 25% 21% Atlantic Ref (1)... 43 323 Atlas Powder (2).. 111% 106% Atlas Powder pf () 111 111 Atlas P pf(6)called. 29% 15 Auburn Auto.. 14 614 Austin Nichols. 63 36% Austin N pf A (5) 5% 3 Aviation Corp Del.. 6% 26% 1 181, 21% 164 145 24 1391 4% 9% 45% 14% 197 17% 6 414 121 1% Baldwin Loco (K).. 713 Baldwin Loco pf (k) 15 714 Baltimore & Ohio. . 17% 9% Baltimore & Ohio pf 105 100% Bamberger pf (6%) 5% 3% Barker Brothers. 9% 5% Barnsdall Corp 19 15% Beatrice Cre (a50c) 1314 11% Belding-Hem (a50c) 174 11% Bendix Aviation. .. 15% Beneficial Loan 1% 34 Best&Co(2)...... 21% Bethlehem Steel. 55% Bethlehem Stlpf... 14% Bigelow-San Corp.. 94 Blaw-Knox . 61s Boeing Afrpla 49% Bohn Alum&Br (3). 90 Bon Ami (A)(15).. 21 Borden Co (1.60)... 28% Borg Warner (1%). 9 Bridgp't Brassalle 243 Briggs Mfg (2).... 2314 Briggs & Strat (3). 31% Bristol-Myers 12.40 361 Bklyn-Man Tr (3).. 90 Bklyn-Man T pf (6) 15 BkIn&Queens pf(2) 43 Bklyn Union Gas(5) 4% Bucyrus Erfe...... 8t Bucyrus Erie cv pf. 62% Bucyruc Erie pf (2) 3y Budd (EG) Mfg... 23 Budd (E G) Mfg pf. 214 Budd Wheel 8% Bullard Co. 3 Burns Bros pf 18% Burr Add M (60c) 1 Bush Terminal (k 1% Butte Copper & Zine . % Butterick (k) 11% Byers (A M) 36% California Pkg (1% % Callahan ZinC...... 215 Calumet & Hecla. 8% Can Dry G A (40c). 9% Canadian Pacific. .. 85 Car Clin & O sta (5) 45% Case (JI) Co...... 361 Caterpil Trac(f1%) 19% Celanese Corp.. 1% Celotex Co (k). 11% Celotex Co pf (k) 6% Century Rib Mills.. 38% Cerro de Pasco (2). 3% Certain-Teed Prod.. 23 Certain-teed Pof... 37% Ches & Ohio (2.8 % Chi Gt Westn (k) % Chi MilIStP&P. % Chi Mil St P & P pf. 2% Chi & Northwest. .. 4% Chi & Northwest pf. 4% Chi Pneumatic Tool 20 Chi Pneu Tool pf.. 1 ChiRI&P(K).... 25% Chickasha CO (2). 9 Chile Copper...... 81 Chrysler Corp (1) 31 City Stores...... 122 1121 Cluett Peb pf (7)... 209 161% Coca-Cola 8)...... 5T% 53% Coca-Cola (A)(3).. 18% 161 Colgate-P-P (50¢c).. 105‘6 101 Colgate-P-P pf (6). 9 Collins & Aikman. . 69% Collins & Afk pf (7) % Colo Fuel&Iron (k) 5 ColoF&Ipf (k)... 10% Colo & South......: 68 Colo & South 24 pf. 3% Col Gas & Elec..... 35% Col G & E pf A (6). 24% Colum Pic vte (m1) 67 Colum Carbon (4).. 391% Comcl Credit (2)... 5214 Comel Credit(A)(3) 12 1% 5 1 3 3 5 7144 3 123% 5 184% 9 2 90 608 610s 270 2 408 122 4 203% 1 66 15 17 9 32% 29 Comcl Cred pf (1%)400s 115\;. 109% Comecl Cred 1st(6%) 2508 291 Comcl Credit(B)(2) 5708 5“6 28% 1% 56% Comcl Inv Tr 2% . 17% Comel Solv (t85¢).. % Comw-& Southn... 29% Comw & Sou pf (3). 27 Congoleum-N (1.60) 9 Congress Cigar.... 15% Consol Film pf (§2) 15% Consol Gas N Y (1). 2% Consol Gas pf (5).. 1% Consol Laundri 63 Consol Oil. ) 62% Contl Can (2.40)... 7 Contl Dia F (a1bc).. 28% Contl Insur (11.36). % Contl Motors...... 15% Contl O Del a12%e. 41% Corn Ex BK&TT (3) 62 Corn Prod Ref (3). 4% Coty InC...cooeuens 85% Cream of Wht 2%, 12% Crosley Radio... 23% Crown C&St1). 43% Crown C&S pf(2.70) 5% Cuban-Am Sugar.. 40% Cuban-Am Sug pf.. 41 Cudahy Pkg (2%).. 22% 15 . Curtis Publishing.. 2 Curtiss Wright.... 6% Curtiss Wright (A) 73 Cushmans pf (7)... 16 Cutler Hammer ...« , 9 ° o FeaBonanls - =TT PoTey v 22 8% 10s 75 1 18% 3 122 201 55 16% FREEERE FEEF B OERR RFER R RS 18% - ¥ Pt —— VA 3 31 22K Deere6Cornmesm 80 39 ..38 .28 ¥ X ” . 30 Indust, . —3 . 549 . 552 . 5068 . 545 . 566 . 4956 . 614 453 . 115 ‘1469 1927 low ... a1 Prev 1935 S'ockand Bales— High. Low. Dividend Rate. Add 00. 23% 19 Deere & Co pf(j40c) 8 43l 23% Delaware & Hudson l.’i 19 6 10- 12 8 Det & Mackinac 10s 32% . 2 42% 34} Dome Mines (14)... 10 26% 17% Douglas Afrcraf! 126 18% 131 Dresser Mfg A hl .99' 6% Du Pontde N (2.60) _— 146 110% Eastman Kod (5).. 155 141 Eastman Kod pf (6) 20% 16% Eaton Mfg (1). 7% 3% Eitington-Schil 29 193 Flectric Auto Lite.. €% 3% Klectric Boat. §% 64 Elec & Mus Ind. T 214 Elec Pwr&Lt 36 pf. 8% 3 Elec Pwr&Lt $7 pf. 49% 39 Elec Stor Bat (2%) 605 52% KEndicott-John (3).. 2115 14 kng Pub Sve §5 pf. 22 14 Eng PS §5.50 pf ww 22% 15% Kng Pub Sve $6 pf.. 14 T ErieRR.....ovnnn 12% 101 Eureka Vac Cl(80c) 23% 16% Evans Auto (a7sc). 5 2 Exchange Buffet... —_— 25% 17 Fairbanks-Morse. .. 101 713 Fairbanks-Mrs pf 9% 5% Fed Lt & Trac...... 65 ° 48 Fed Lt & Trpf (6).. 72 40 Fed Min & Smelter.. 6% 3% Fed Motor Truck... 20‘4. 161 Fed'd D Strs (11).. 2813 Fid Ph F Ins(11.35) lml. 108% Filene'sS pt (63%) .. 8414 Firestone pf A (6). 46 First Nat Strs(2%) 19 Florsheim (A)(1).. 20% Food Mach (1)....s 9% Foster-Wheeler..., 60% Foster-Wheeler pf. 4% Foundation Co..... 19% Fourth Nat In aé0c. 1345 8% Fox Film (A) 26 174 Freeport-Texas (1) ——e 24 1 Gabriel Co (A). T 53 Gen Am Investo 38% 32% Gen Am Trans(1% 18% 11% Gen Asphalt. ... 9% Ti Gen Baking (60c) 5% Gen Bronze 2 GenCable.. 4 Gen Cable (A). 19 Gen Cable pt. 50 Gen Cigar (17). 1271 Gen Cigar pf (7). 2015 Gen Electric (60c 32 Gen Foods (1.80)... 597 Gen Mills (3).. 116 Gen Mills pf (6) 26% Gen Motors (1).. 1072 Gen Motors pf (5).. 9313 Gen Print Ink pf (6) 11 Gen Public Service. 15% Gen Ry Signal (1).. % Gen Realty & Util.. 14% Gen Real &U pf ww 12 Gillett Saf Raz (1). 7015 Gillett Stf R pf (5). 21 Gimbel Bros....... 18 Gimbel Bros pf 29 23% Glidden Co (11.30). 109% 1047 Glidden Co pr pf (7) 4% 11 Gobel (Adolf)..... 18 14i Gold Dust (1.20). 117 113% Gold Dust pf (6). 11% 7l Goodrich (BF).... 40 Goodrich (B F) pf.. 15% Goodyear T & R.... 70 Goodyear $7 pf (4). 215 Gotham Silk Hose.. 113 Graham-Paige. 5% Granby Consol. 2% Grand Unfon. 17 Grand Union p: . 26 Grant (W T)(11%) 98 Great Northern pf. 12% 9% Great Nor Ore (50c) 31% 26% Grt West Sugy(2.40) 132 119 Grt West Sug pf(7) —_————— 27% 21% Hackensack W (1% 335 30 Hack WpLA (1%). 70% 55 Hahn Dpt Stores pf 20 16 Harb Walker (1)... 110% 99% Harbison & W pf(6) % 5b3 Hat Corp (A) 3% 1% Hayes Body.. 95 85 Hazel AtlasGl (5). 77% 71 Hercules Pw (13%) 1274 122 Hercules P pf (7).. 81% 73% Hershey Choc (3).. 1145 104 Hershey C pf (15).. 9% ¢5% Holland Furnace. .. 14% 6% Houdaille-Hersh B. 17% 9% Houston Oil....... 3% 1% Houston Oil (new). 56 43 Howe Sound (3)... 12% 6% Hudson Motor Car.. 3% % Hupp Motors...... —— 17% 9% Illinois Central.... 33 241 Indus Rayon (1.68). 77% 60% Ingersoll-Rand (2). 564 46% Inland Steel (2)..ve 213 Inspiration Copper. 4 Insur Shct Md l4c.. 8% Interboro Rp Tr (k) 1% Intercontl Rubber.. 4% Interlake Iron 2% Int Agricultur 31 Int Agricuiture 3% Int Carriers Ltd 206 3 49 EITTE LT 3 EnERua 27% 36k 178 15 Ralls. —1 208 209 189 357 216 High. AWI 139% 152 19 4 20 4% 6% 6% % 42% 58% 21% 21 22 8% 11% 17 T ny. m»- 274 15 60 Util. Stocks. 1 95% 136 152 18% 4 19% 4% 6% 6% T 42 5814 21% 21 21'4 81y 11% 17 95% —1% 136 -2 162 18% — % = 19% 4% — 6% — 6% — % = 42 FESFE §F FFEEEF T FE FEE FEEFL 104"1 1% 21% 1 17 15% 838 2% 21l 27 1% 141 113 8% 454 1T% 4 31 17 ™ 3 18% 304 12t 114 207 1324 27'% 33’5 65% 187 110% T b 4%y T4 126 80 12 s 11% 15% 2% 0y 4% 1% n 25% 5% 631 3 4% 1% 5 3% 35% 4% 227 Int Cement (1)..... 3414 Int Harvester (6 13 Int Hydro Elec (A). 27% 22% Int Nick Can (60¢). 130 125 Int Nick Canpf (7). 12 4% Int Paper & PW pf 24% 21% Int Print Ink (1)... 105 98 Int Print Ink pf ( 32% 29 IntSalt (1) 46 2 Int Shoe (2) 9% 5% Int Tel & Tel. 12% 9 Interstate Dept Strs 57 49 JewelTea (3).. 57% 38%e+Johns-Manville. 78 50 Jones&Laugh 7%pf 118 115% Kan C P&L 1st pf 6. 8% 3% Kans City Southern 10% 7% Kaufm'n D S(a40c). 19% 15% Kayser(J)& Co 60c. 2% % Kelly-Spring T (k). 18w 6 Kelsey-Hayes (A). 11% 3% Kelsey-Hayes (B). 14% Kelvinator (170c).. 13% Kennecott C (60¢) . 23 Kinney (G R) Copf 22 19% Kresge (SS)(1)... 113 103 Kresge (S 8) pf (7) 69% 56% Kress (S H)(f1)... 28% 23% Kroger Gr&Bk 1.60. —_— 31 19% Laclede Gas pf. 28% 24 Lambert Co (3) . 2% 1% Lehigh Valley Coal. 12% 6% Lehigh Val Coal pf. 76% 67% Lehman C (12.65).. 32% 213% Lib-O-Ford G11.20, 107% 94Y% Ligg & Myers (15). 09% 93% Ligg & Myers B(15) 167 151% Ligg & Myers pf (7) 19% 16% Lily Tulip Cup(1%) 830% 24% Liquid Carb (t11%). 39% 31% Loew’s Inc (2), 16% 10% Lonllv G&E(A)1% 18% 12% Ludlum Steel...... 90% Ludlum Stl pf (6%) 40 MacAndrew & F' (13 28 McCall Corp (2)... 7% McCrory Strs A (k) 57% McCrory Strs pf (k) 36% Mclntyre Poreu (2) 90% McKeesport T P (4) 6% McKesson & Rob. .. 35% McKesson & Rob pf 8% McLellan Stores (k) 20% Mack Truck (1).... 30% Macy (R H)& Co(2) 18% Magma Copper (2). % Mallison & Co..... 4 Manat! Sugar pf (k) 29 Man Elev gtd (k).. m« Man Elovm l (k) 4% Marancha 5% Marine lfldld (lflc). 30 Marlin-Rockwell(3) 25 39% 1% 27 129 2T% + % 129 — % 6% 6% — % 22 22 106 105 +2 325 3% 46'/. 460. + % -% 9 9 -% 53% 53% 4Th 4Th + % 55 56 . 118 118 +1 6% 6% + % 1W0% - % 20% +1% bl 13% + % 1% + % 14% + % 1% + % 25 -1% 21 106 + % 58 - % 24% 26 -1% 25% + % 1% 20% 106 58 24% 25 1% B4 5% — % 'Il% 7‘%4‘ “ 25 256 241 24% — 1106 106 106 + % 6 105% 105% 1064 — % 1 166% 166% 166% — 14 8 18% 18% 18% — % 4 284 28 28 -~ Y% 47 38% 37% 3T% 2 1% 1w 1%+ % 6 20% 20% + % 100s 138% 138% 138% +2% 1 15% 16% 15% + % 2 15% 15% 15% + % 1107 107 107 43 43 43 30% 29% 30% + 9 9 9 66!‘ 65 B 654 + 434 102‘; 101'6 101% - 6% 354 9% 22% 34% 29% 1 #i*#i##### 1108 34 | share, is the largest amount that has 843 Maytag 1st pi 21 41 Melville shoa('z %) Al 8% Midland Steel Prod. 60% Midr'd Stl 1st pf(8 3% Minn Moline Pow.. 31 Minn Moline Pow pt 10% Mission Corp. .. 2% Mo Kans & Texas. 1% Mo Pacific (k). 1% Mo Pacific pf (k)... 10% Mohawk C M (h25¢) 556 Monsanto C (1).... 21% Montgomery Ward. % Mother Lode 17% Motor Products Tl Motor Wheel, 367% Mullins Mfg pf. 4% Murray Corp. 30 Myer(FE)&Co 1 4 166 216 16 11 Nash Motors (1). 4% Nat Acme Co... 22% Nat Biscuit (2).. 13% Nat Cash Reg A 50c 12% Nat Dairy Prod 1.20 1% Nat Dept Store (k). 17 Nat Dept 8 1st pf(k 50s 24% Nat Distillers (2).. 147 4% Nat Powr & Lt (80c 10 40% Nat Steel (t1%). 7 9 Nat Supply Co. . 3 36 Nat Supply Copf... 30s Nat Tea (60c)..... 2 Nelisner Bros (11%) 1 N Y Airbrake...... 2 N Y Central R R.. 51 N Y Chicago & St 3 NYChi&StLpf.. 4 N Y N H & Hartford 5 N YN H & Hart pf. 4 64 N Y Shipbuilding... 4 Y Shipbldg pf (7) 20s Y Steam 1st (7).. T0s randa Mines (h2) 37 rfolk & W (110). 1 Norf & West pf (4). 110s 2 North Am Aviation. 16 9 North AmCo (1)... 33 35'% North Am Co pf (3) 2 57 North Am Ed pf (6) 18% Northern Pacifie. . 35% Northwest Tel (3) 16 10. 9% Ohlo Ofl (h4Gc).... 1% Oliver Farm Equip. 15% Oliver FEprpf A.. 11% Otis Elevator (60¢) 4% Otis Steel 22% Otis Steel pr pf.. 38 Outlet Co (2 93 80 Owens-IllGlass(4). 6 187% 13% PacificG&E (1%). 287% 19 Pacific Ltg (2.40) 127 111% Pacific T & T pf ( 9% 7 Pac WnOil (hilc). 5% 3'5 Packard Motor. . ... 4% 2% Par-Public ctfs (k) 6 2u L 1 /Y 2 574 15 17 108 Parmelee Transport Pathe Exchange... Patino Mines. .. Penick & Ford (3) Penney (J C)(2). Penn Coal & Coke Penn Dixie Cement. Penn Dixie C pf(A) Penn R R (1). 24 Peoples D S p! 10s Peoples Gas Chi 5 Pet Milk (1). . % Phelps Dodge 67 Phila Co $6 pf (3) 1 Prila& Read C& 1. 3 Philip Morris (1)... 3 Phillips Petrol (l). 63 Pierce Oil..... . 47 Pierce Petroleum.. 22 Pillsbury Flour 1. 50 2 8 Pitts Coal pf 1 Pitts Screw & Bolt.’ 1 Pitts Steel pf. . 10s Plymouth Oil (1) 49 Poor & Co (B). 1 4 Porto R Am Tob B! 1 6 Postal Tel & Ca pf. 4 17 6% Pressed Stl1C pf (k) 1 49% 42% Proc & Gamb (1%). 8 120'3115 Proc & Gam pf (5). 30= 3015 20% PubSveNJ (280).. 20 87l3 62% PubSveNJpf (5). 2 98% 73 PubSvc NJpf (6). 3 52%% 34 Pullmanlnc (3)... 40 T 15 11's 8% Purity Bakerles' (l) & 5% 6215 4% 2% 5% 22% 61y 64 a5 11% 11t 19 16% 4 Radio Corporation. 15 50 RadioCorppfA3% - 4 35% RadioCorppf B.... 20 1% Radio-Keith-Or (k) 4 21 16% Raybestos-Man (1) 1 11% 8 Remington-Rand.. 7 86% 71% Remington-R1stpf 2 110 110 Rensselaer & S (8). 40s 3% 2% Reo Motor Car. 40 1512 9 Republic Steel. 49! 28% Republic Steel pf. 8 5!z Revere Copper..... 13 Revere Copper (A). 17'3 Reynolds Metals(1) 12Y% Reynolds Spr (40c) 43% Reynolds Tob B (3) 21% Roan Antelope Ltd. 46 37 Safeway Stores (3) 37% 912 1691y 4 104 48% 119 27% 87 -% 6% ERPEE FFEF 94 37% 16915 104 A4 13% 47 8114 EEFEFE 22 L+ +1 -2 - + % -1 + % +1 +1 +1 Rig 49 119 2813 87 984 ¥ 98y 341y T 9% 4% 54'¢ 5% 11y 19% 85 8515 100 3 12 384 6% 15 18% 167 484 25t 39% 3519 T % 4% 541y 45% 11 19% + % 8% — L +1 - % - ) 110 104% Safeway Strspt (6) 100s 109'5 189t 10915 114 110 Safeway Strspf (7) 100s 112 17% 9% 2844 4 20% 61% K 81% 40% 49% 9% 14% 13 % 10% St Joseph Ld (40c). 6 Savage Arms.. 22 Schenley Distill 1% Schulte Retail Str: 8 Schulte R Strs pt. 55 Scott Paper (1.70) % Seaboard Air L (k 20% Seab'd Oil Del (t1). 31 Sears Roeb’k (75¢) 40 SecNatInvpfjlli. 40s 7% ServelInc......... 10 9 Sharon Steel Hoop.. 2 3% Sharp & Dohme..., % Shattuck (F G) 25¢. 6 20 37 52 112 16 8 23% 2 10 61 Y% 30 3% 45 8y 104 4 ™ 112 + 16 & - 24% + 2 «10 61 + % +1% % 30% + W 3T — % 45 815 10% - % 4 -y T+ % -1% | g0 19% 8% Silver King C (40c) 96 10% 6 SimmonsCo....... 13 18% 13% Simms Petrol (1).. 6% Skelly Oil. 1 Y 111% 107% Sol Am Inv pf(5% 26 20 Sou Porto R Sug (2) 140 132 Sou Porto RS pf (8 15% 108 South Cal Ed (1% 12% Southern Pacific T% Southern Railwa: 10 Southern Rwy pf. 59% Spang Chalf pf (J1 3% Sparks-Withington. 32 Spencr Kellogg 1.60 % Sperry Corp (?5¢) 815 Spicer Mfg..... 33% Spicer Mfg pf (3).. 437 Splegel-May-Stern. 13% Stand Brands (1).. 130 123 Stand Brands pf (7) 27% Stand Oil of Cal (1) 23 Stand Oilof Ind (1) 66 35% Stand OIINJ(11%) 94 58% Sterling Prod (3.80) 8 31 Sterling Secur pf... 6% Stewart-Warner. 213 Stone & Webster. .. % 214 Studebaker (new) 15 60'; Sun Oil (31).. 121 115% Sun Oil pf (6) 3 1% Superior Ofl.. 9% 5 Superior Steel 5% 3% Sweets Coof Am. 41 9% 64 108 45 4 Tennessee Corp 1615 Texas Corp (1). 288 Texas Gulf Sul (2). 3% Tex Pac Coal & Oil. 8!y Tex Pac Land Trust 2 51 Thatcher M pf (3.60 2'4 Thermoid Co. 2% Third Avenue 13% Thompson Products 1% Thompson Starrett. 5% Tide Wat Asso Ofl.. s R4 Tide Wat A O pf(6) 4 100 Tide Wat Oil pf (5). 4% Timken-Detroit 28% Timken R B (1) 47 Transamerica (25¢) 7% Trans & West'n Air 5% Transue & Williams 1% Tri-Contl Corp..... 4% Truax-Tra Coal. 3'3 Truscon Steel 3% Twin City RT " 44 Un Carb&C1.60. 14% Un Ofl of Cal (1). 8214 Un Pacific (6) 79'3 Un Pacific pf ( 207 Un Tank Car (1.20 97 United Aircrafi 4'3 United AirL v 21% United Bisc (1.60). 46 United Carbon 2.40. 114 United Corp 20% United Corp pf (3). 9'5 United Drug.... 3% United Elec Coal 71% United Fruit (3)... 9% United Gas Imp (1) 8Tis United Gas 1pf (5). 144 United Pcs D W pf. 100s 11 USFreight (1).... 2 40% U S Gypsum (1) 5 USHoffman....... 35% U S Ind Alcohol (2) 713 U S Leather (A)... 14% U S Pipe & F (50c). 19% U S P&F 1st pf 1.20 3 US Realty & Imp. 914 U S Rubber. .. 2413 U S Rubber 1st pf.. 95 USSmelt&R (16). 624 US Sm& R pt (333) 2713 U S 73% U S Steel pf (2). 313 United Stores (A) 1% Univ Pipe & Rad. .. 12 Univ Pipe & Rad pt 1 UtilPwr& Lt (A).. 11% Vanadium Corp.... 11% Van Raalte........ 91 Van Raalte1stpf 7 344 Vick Chem (12.40). 18 Va-Car Chem 6% pf 3 7213 Va El & Pw pf (6).. 20s 1% Wabash pf (A) (k). 1 4's Waldorf Sys (h26c) 27% Walgreen Co(1.20) 1% Walworth Co. . 24 Warner Bros Pic 2!3 Warren Bros. 21 Warren Fd\&P (). 30% WessonO &S t1%. 72 WessonO&Spf4.. 2 34 West PaElec (1) A 1008 39% West Pa Elec pf (7) 60s 4 95 WestPaPwpf(6). 1208 1177 104's West Pa Pw pf (7). 10s % Western Dairy pf B 1 5% Western Maryland. 1 2% Western Pacific pf. 2 20% Western Union. ... 24 18 Westingh'se AB50c 1 32% Westingh'se Elec.. 74 90 Westh'se 1stpf3% 60s 16% Westvaco Chi (40c) 3 6'» White Motor 4 13'3 White R’k M S 1.40. 6 Wilson & Coal2lze 5 Wilson & Co pf (). 3 51 Woolworth (2.40).. 19 11% Worthington Pump 1 251 Worth Pumppf A.. 20s % 35% Wright Aero....... 30s 23% 18 YoungSp& WilY 3 21% 13 Youngstown S&T.. 1 —— 1 4 5 7 1 1 4 4% 3 ZoniteProducts.... 6 115 9 lll% 110 6 25% 2b% 10 a 129% 139% 16% 8% 15% 8% 9% 20% 17% 13% 33% 42% 66'% % 4 22% 15% 3% 3% 17% - % 8% — % lflh+'/a AT SESSION'S' END 1 124 Metals and Few Scattered 20% — % 5 + % Shares Soft—Early Gains Reduced. What Stoeks Did. Wednesday. Tuesdaz, Advances .. ... 216 Declines 3 Unchanged . ‘Total issues. BY VICTOR EUBANK, Associated Press Pinancial Writer. NEW YORK, May 1.—The stock market made a determined effort to climb higher today, but ran into dif- ficulty in the final hour, when metals and a few miscellaneous shares turned soft. [Early gains of fractions to & point were substantially reduced and in some cases converted into losses. The closing tone was irregular. Sales aggregated 800,000 shares. Wheat and cotton, both of which had gone along with stocks during the forenoon session, likewise lost their enthusiasm and slipped back. Wheat ended a cent or more a bushel under 211 — % | yesterday's close and cotton finished 30% — 3%, 10% 51 314 2% + % 14% 2% +% -1 L+4 140114 1% = & T6% ™ - Approximate Sales of Stocks on the N. Y. Stock Exchange. 11:00 A M., 1:00 P.M...... ., 490,000 2:00 P.M. « 230,000 12:00 Noon. Total sales for the day, , 820,000 ple are the annual half- Dividend rates as givq th cash ‘pavments ‘based. on the” latest qua e BIk of tradine less thi s ¢ less thay 15 utoek. L lSl n 100 shares. able n casn o' tlock 3 compunu reported | nized. m Plos A% $itock. "X Ex-aividena " - st year—no re'ulsr a Paid this yi 380.000 . 580,000 -yearly in special preferr rear. ) Auumullud recelvership or bein; us 3% in stock. reor- D Plus 2% QUARTERLY INCOME ASSETS INCREASE! Cash Distribution of $765,570 Is | Largest Amount Paid in Cor- poration’s History. Special Dispatch to The Star. NEW YORK, May 1.—Total assets of $31,648,845, with investments taken at cost, for the quarter ended April 15, 1935, are revealed in the state- ment of Quarterly Incomes Shares, Inc, being mailed to stockholders with the May 1 distribution cheek. This compares with total assets of $29,952,508 at the end of the preced- inz quarter, January 15, or a gain of $1,696.366. The total distribution of $765,570 being paid to stockholders today, which is at the rate of 3 cents per been made for any quarterly period to date. It arises entirely from in- terest, dividends on securities owned and realized profits, with the excep- tion of $64,689.05 drawn from paid- in surplus. —_— STANDARD OF INDIANA TO ADVANCE GASOLINE CHICAGO, May 1 (#).—Because of a further increase of wholesale gaso- line prices, Standard Oil of Indiana will advance its tank wagon and serv- ice station prices of all grades of mo- tor gasoline three-tenths of a cent a gallon. effective Thursday, May 2, it was announced today. ‘The advance will take place in Michigan, Indiana, Illinois, Wiscon- sin, Minnesota, Jowa, Missouri, Kan- sas and the Dakotas. DIRECTORS RE-ELECTED. ‘WILMINGTON, Del,, May 1 (Spe- cial). —At the annual meeting of the lmkhnlden of ouunl Motors Corp. ere yesterday the directors were re- llm for’ the ensuing year. A | lateral New York Cotton By the Associated Press. NEW YORK, May 1.—Cotton fluc- tuations were confined to a range of 2 to 3 points in a dull market today. The undertone was steady on a little trade price fixing and Japanese support, while offerings were light and traders generally marking time. July fluctuated between 11.83 and 11.80, with prices at the beginning of the last hour 1 point lower to 3 net higher. Two private reports on in- tentions of farmers to plant were is- sued, one pointing to an acreage of 30,550,000 and the other 31,003,000 and both reflecting a tendency to scale down acreage ideas from one and two months ago by the same authority. Futures ciosed steady, 1 to 5 lower, NEW YORK, May 1 (®.—Bleachable cottonseed oil futures closed easy. July, 10.50; September, 10.52b; October, 10.40b. Sales, 32 contracts. b—Bid. Liverpool Quetations. 1 P.—Cotton. 8.000 American. Spot in points higher; quo- LIVERPOOL May bales, including 2.600 fair demand: prices 2 tations in_pence: ; good middllng 7.1 et 4 0od ordinary. 6.20: good ordln-ry ann tures closed aquiet and steads May. 6.54; J ber. 6.21 BALTIMORE STOCKS Special Dispatch to The Star. * BALTIMORE. May 1.— Sales® STOCKS. New Am. et 200U 8 Fidel & Gt 20 West Md Dllry of mw-.lu'u'u. 10% 11 /4 American striet’ sood o JERSEY STANDARD ORDERS DIVIDEND Semi-Annual Distribution Wili} Amount to About $12,800,000 June 15. By the Assoclated Press. NEW YORK, May 1.—Directors of the Standard Oil Co. of New Jersey | today declared the usual semi-annual | dividend of 50 cents on the cnpml‘ stock, payable June 15 to stock of | record May 16. The distribution will | amount to about $12,800,000. — INSURANCE STOCKS NEW ' YORK. Mav 1 () —New York Security Dealers’ Association: 1 Bid. Asked Aetna Cas (*213) . 6812 701 Aetna Fire (1.60) Aetna Life (.60) Argicultural (1) Am Ins Newark ( Am Reinsur (2'2) Am Surety (11 Automobile (1) . City of N Y new Conn_Gen Life (.80). Fid & it1) U 8 Pire () Westchester (*1.30) *Including_ext: so far th SAVANNAH NAVAL STORES. about even. Some irregularity crept into the corporate bond market, bu' United States Governments pursuec their own way into higher levelr Foreign exchanges remained easy. Prominent shares lost part of their early advantage, but sufficiently re- sistant to end the session fractionally higher included Loew's, Caterpillar Tractor, Johns - Manville, Standard Oil of California, Phillips Petroleum. Kennecott, Union Pacific, Pullman, Consolidated Gas, Public Service of New Jersey, American Bank Note and Interboro Rapid Transit. Among those giving up their ad- vances and slipping back were United States Steel, American Can, Du Pont, National Biscuit, United States Smelt- ing, Cerro de Pasco, American Tele- phone, National Distillers, New York Central and American Smelting. Gen- eral Motors and Chrysler ended about even. Another drop of 35 of a cent an ounce in bar silver to 75 cents ap- parently was the signal to set off the selling in the metal group and while | leaders were resistant for a time they gradually yielded ground and caused nervousness in other divisions. 'BROKERS’ LOANS SHOW ADDITIONAL INCREASE By the Associated Press. Increased loans to brokers and dealers continue to contrast with smaller loans against securities to other customers by member banks of the Federal Reserve System in leading cities. Security loans to brokers and deal- ers show a decline of only $28.000,000, compared with a year ago, but col- borrowings by ‘“others” are off $421,000,000. Total security loans of the report- ing banks in 91 leading cities com- pare as follows: Week ended April 24.... $3.067.000.000 Preceding week . Same week last year LOANS AT 59, on downtown eentrally-loeated busl- ness propert: nt house 545, YReatonable commis: Tyl:r and Rutherford, Inc. 1520 “K” St. N.W. Natl. 0475 Ve, Will Make First Properties. 5 515% Action on Application. Real Estate Mortgage and Guaranty Corporation 1610 K_St. N.W. Phone Nat. 1103 OFFICE EQUIPMENT WE SELL, BUY or EXCHANGE Adding Machines Check _Protectors Sovewriters Steel Cavinets BAUM’'S FURNITURE HOUSE 1416 Eye St. NW. Ph. NA. 2184 All Local Bank Stocks Bought—Sold—Quoted JAMES M. JOHNSTON & CO. 910 Southern Bldg. Members Washington Stock Ezchamge WE WILL BUY Shoreham Hotel Trust Notes Vermont Bidg. Bonds or Certificates. Racquet Club C. B. Pennebaker Company, Inc. Southern Bids. ‘Washington, D. C. National 2311 National 2312 National 2313 “Dealers in_Unlisted Securities, Specializing in Real Estate Mortgage Bonds™ Established Business Offers Investors 7% Preferred Stock Periodic andits by Certifled hbmAemn-ntsmm increase in earnings. CHARLES DELMAR Broker Woodward Building ENTERPRISE SERIAL BUILDING ASSOCIATION 7th St. and Ind. Ave. N.W. LOANS Made on Improved District of Columbia Real Estate Security SAVANNAH. May 1 —Turpentine firm. 47%; saies. 243: 74th Series of stock now open for subscription