Evening Star Newspaper, May 4, 1935, Page 14

FINANCIAL. RICHMOND BANK -ASSETS INGREASE Rediscounts and Industrial Loans Also Register Gain in Month. BY EDWARD C. STONE. In his latest comprehensive monthly review, just received here, Chairman W. W. Hoxton reports that between March 15 and April 15, 1935, total earning assets of the Federal Reserve Bank of Richmond increased by $269,- 000, rediscounts rising by $143,000 and industrial loans made to industries for working capital increasing by $137,000, while the portfolio of open | market paper declined $8,000 and for- eign loans on gold dropped $3,000. The circulation of Federal Reserve notes of the Richmond Reserve Bank rose $100,000 during the month, con- trary to seasonal expectations. Member bank reserve deposits, which for many months have been much above requirements, showed a decrease of $14,724,000 between the middle of March and the middle of April. The several changes mentioned, with others of less importance, resulted in a de- cline of $6,500.000 in cash reserves of the Federal Reserve Bank of Rich- mond, and caused a drop of 94/100 of 1 point in the ratio of cash reserves to note and deposit liabilities com- bined. In comparison with figures for April 15, 1934, those for April 15 this year show marked changes in several items. Rediscounts dropped by $1,- 385,000 during the year, and holdings of open market paper declined by $336,000. On the other hand, owner- ship of Government securities rose by $20,000,000 between April 15 last year Eastern Daylight-Saving Time. By private wire direct to Prev. 1035 Stock and Sales— High. * Low. 7% 4% Adams Expres: 11% 8 Addressograph 8% 4% Advance Rumley... 8%« 6% Affiliated Prod (60c 121% 104% Air Reduction (3).. 20% 15% Alaska Jun (11.20). 1% % Alleg Corp (k) 146 125 Allied Chem (6). 127% 122% Allied Chem pf (7). 184 12 Allis-Chalmers.... 20% 14 Alpha PortCmt (1) 3% 214 Amzl Leather. 64 481 Amerada Corp (2). 57% 42 Am AgCem Dcl(l). 25% 13% Am Bank Note..... 62 43 Am Bank N pf (3).. 3608 123% 110 Am Can (15).. 168 151% Am Can pf (7) 20% 10 Am Car & Foundry. 45% 2515 Am Car & Found pr. 85% 38 Am Chainpf.. 10% 6% Am Crystal Sugar. . 101 7% Am Crystal Sug pf. 3 1% Am Encaustic. 23 Am European Sec. 2 Am & Foreign Pwr. 8% Am Hawailan §8(1) 17 AmHide & L pt.... 29% Am Home Pr (2.40). 28% Am Ice Copf (6)... 4% Am International. .. 9~ Am Locomotive.... 18% Am Mch & Fy (80c) 4% Am Mach & Metals. 415 Am Mach & M ct 13% Am Metals 1% Am Power & 8% Am P&L $5 pf (l%) 21% 104 Am P&L $6 pf (1%) 16 10% Am Radiator...... 147 13415 Am Radiator pf (7) 24 15% Am Rolling Mills. . 76 66 Am Safety Razt5% 7% 415 Am Seating... 45% 31% Am Smelt & Ref... 11613103 Am S&R 6% pt 7% 139% 121 Am S&M 7% pf (7) 3 Am Snuff (13%)... 2 Am Stores (12%).. ‘s Am Sugar (2).... 140 12613 Am Sugar pf (1) 18!; Am Sum Tob (1) 9874 Am Tel & Tel (9). 72! Am Tobacco (5) 9 2 3 14 ki 3 2 41 1 1 14 6 ) - o - - q"mf—u-n—uunfivnnm—m-n. Sepwnn e WonenwnS 2» and this; April 15, 1935, the bank had loans made direct to industry for working capital outstanding to the amount of $3,613,000, and the bank was participating to the extent of $4,- 000 in system foreign loans on gold. The changes resulted in a net rise of $21.896,000 in total earning assets during the past year. Circulation of Federal Reserve notes of the Richmond bank April 15, 1935, exceeded circulation a year earlier by $9,475,000. Member bank reserve de- posits declined by $22,402,000 between the middle of April last year and the corresponding date this year. Cash reserves of the Federal Reserve Bank of Richmond, which were relatively high a year ago, declined by $24,088,- 000 during the year and the ratio of reserves to note and deposit liabilities combined dropped 7 points. Bank Deposits Reveal Gains. Chairman Hoxton further an- nounces that time deposits in 28 re- porting member banks and aggregate deposits in 11 mutual savings banks totaled $335,791,072 at the end of March, 1935, a higher figure than either $335,036,766 reported at the end of February, this year, or $323,- 251,943 at the end of March last year. Both the reporting member banks ‘and the savings banks gained in deposits during the past year and the mutual savings banks increased during March, but the reporting member banks showed a small decline between the end of February and the end of March. Debits to individual accounts fig- ures in the four weeks ended April 10, 1935, showed a normal increase of 6.6 per cent over debits in the pro- ceeding four weeks, due chiefly to quarterly payments of dividends and lnwmt on April 1 and income tax payments on March 15. When the lateness of Easter is considered, trade was up to seasonal levels, Chairman Hoxton states. Contrary to the na- tional record, business failures in this district increased in both number and liabilities involved over March, 1934. Employment conditions appear to have become somewhat worse be- tween the middle of March and the middle of April, due to restrictions to operations in the textile mills and some other scattered industrial plants, which more than offset seasonal in- creases in construction and farm work. Textile mills in the fifth dis- trict curtailed production about 25 per cent on April 1, and plan to con- tinue the restriction two months un- less there is a marked change in the market demand. Spot cotton prices declined and exports were lower than & year ago. Manufacturing of tobacco held up during March. Building permits in 31 fifth district cities, Mr. Hoxton re- ports, showed a 49 per cent improve- ment in numbers and an increase of 83.9 per cent in valuation over a year ago, but contracts actually awarded totaled $11,185,368 against the higher figure last year of $15,880,592. Lanston Makes Fine Showing. Much favorable comment is heard in the financial district on the annual report of the Lanston Monotype Co., presented at the annual meeting in Alexandria, showing net profits of $90,028, equivalent to $1.67 a share on 53,830 shares, against $1,347, or 2 cents a share on 55829 shares in the preceeding year. It is a remark- able improvement for a period of only 12 months, in the opinion of many of the company’s stockholders. Current assets as of February 28, 1935, including = $1359,614 cash, amounted to $3,741.203, and current liabilities were $59,307. This com- pares with cash and marketable se- curities of $1,312,220, current assets of $3.978,893 and current liabilities of $31,169 on February 28, 1934. The election of directors was espe- cially pleasing to Washington, which now has four members. George W. ‘White, president of the National Met- ropolitan Bank, has served the cor- poration for many years, as has Chairman J. Thilman Hendrick. Karl ‘W. Corby also has been on the board several years, while this week’s addi- tion was Roger J. Whiteford. Lanston stock, so widely held here, s one of the veterans on the Wash- ington Stock Exchange. The last sale was made at 50. Paying $4 a year, it yields $8 per share at present prices. Heard in Financial District. ‘The $1,000 sale in Washington Gas 8s, 1958, at 105% on the Washington Stock Exchange yesterday was a new high mark for the year in this issue. The highest previous sale was at 105. ‘The county commissioners of Anne .Arundel County, Md. have awarded to Morris Mather & Co. $45,000 of 5 per cent Bay Ridge District bonds on s bid of 101.2909. Stein Bros. & Bayce and associates bid 101. Insured mortgage loans totaling $1,300,000 have been extended resi- dents of Washington during the first four months of 1935, according to J. K. Gilchrist, director of ‘the Dis- trict of Columbia Division, Federal Hous! Administration. 11:l:fum, made under the free in- surance feature of the Federal housing act, have enabled the construction of approximately $500,000 of new building during the period. About $900,000 has been used for the re- financing of old mortgages on lowered interest rates or over a longer period of time. Baltimore clearings during April totaled $235,754,044, which compared with $223,824,809 in ‘Aprfl. “till‘. Clear! for the first four mon of {’;g aggregated $503,930,709, against $831,141,698 in the like perlod of the preceding 74% Am Tobacco B (5).. T's Am Wat Wks (80c). 48 Am Wat W 1st (6). 474 Am Woolen. 85's Am Woolen p! 8 Anaconda Copper. 14 Anchor Cap (60c). 36 Archer-Dan M {1 3% Armour of Illinois. 55% Armour Ill pr pt (6) 4 Arnold Constable. . 714 Asso Dry Goods. ... 80% Asso D G 1st pt(j6) 48 5"1 Alch To& oo 70 55% 8615 3% - 20 20 Bt RO 10 = D 0 0N e e B Iq‘: Atlantic Cnasl Lln. 25% 21% Atlantic Ref (1)... 43 32% Atlas Powder (2).. 112 106% Atlas Powder pf (6) 80s 111 111 Atlas P pf(6)called. 20s 4 Atlas Tack.. 2 15 Auburn Auto . 61 Austin Nichols. 3 Aviation Corp 5 3 1 6% 1! Baldwin Loco (k).. 26% 71 Baldwin Loco pf (k) 15 713 Baltimore & Ohio. . 107 100% Bamberger pf (6% ) 9% 5% Barnsdall.Corp.... 44 37 Bayuk Cigar (b4).. um 107% Bayuk ® 1st pf (7). 15% Beatrice Cre (a50c) 11'x Belding-Hem(a50c) ¥l’s Bendix Aviation... 15 Beneficial Loan 13§ 34 Best&Co(2)...... 21% Bethlehem Steel... 1 55% Bethlehem Stlpf... 20s 5 19 708 22 2 508 13‘ 175 173% 38y 34% 7% 26% 13% 10 5974 98 25% 351 9% 304 33 36% 448 961, 581y 65 5% 143, Bigelow-San Corp.. 6 Boeing Airplane. .. 493 Bohn Alum&Br (3). 90 Bon Ami (A)(15).. 21 Borden Co (1.60) 281 Borg Warner (1% 8!3 Bridgp't Brass al0o 2415 Briggs Mfg (2).... 231x Briggs & Strat (3). 311 Bristol-Myers t2.40 36'2 Bklyn-Man Tr (3).. 90 Bklyn-Man T pf (6) 43 Bklyn Union Gas(5) 43 Bucyrus Erie. .. 3% Budd (EG) Mfg. 213 Budd Wheel 8t Bullard Co 37 Bulova Watc! 13% Burr Add M (600).. * 1 Bush Terminal (k). 5% Bush Term deb (k). 11% Byers (A M) 1 2 408 5 6 20 15% 34 1015 20% 424 1% 347 California Pkg (1% 33 Callahan Zinc. 215 Calumet & Hecla... 8% Can Dry G A (40c). 9% Canadian Pacific 30% Cannon Mills (2) 4% Capital Admin (A). 85 Car Clin & O sta (5) 45% Case (JI) Co...... 831 Case (JI) pf (4)... 3613 Caterpil Trac(f1%) 1915 Celanese Corp. 11Y% Celotex Co pf (K).. 223 Cent Aguire (1%).. 384 Cerro de Pasco (2). 3% Certain-Teed Prod.. 37 Ches & Ohio (2.80). 36 Chesap Corp (3)... % Chi Mil St P & P pf. 2% Chi & Northwest. .. 4% Chi &Northwest pf 4% Chi Pneumatic Tool 20 Chi Pneu Tool pf... 25% Chickasha C O (2) 333 Childs Co....... 31 Chrysler Corp t13%. 20 City Ice & Fuel (2). 87 City lce& F pf 6%. 209 1617% Coca-Cola 8).....e 18% 16% Colgate-P-P (50¢c).. 105% 101 Colgate-P-P pf (§). 15% 9 Collins & Atkman. . 85 69% Collins & Aik pf (7) 7% 6% Colonial Beacon Oil 281 5 ColoF&1pt (k)... 19% 10% Colo & South. . 15% 7 Colo& South 1st pf. % 3% Col Gas & Elec..... 45% 341 Colum Pic vte (m1) 80% 67 Colum Carbon (4).. 47% 39'% Comcl Credit «2)... 58% 521 Comcl Credit(A)(3) 118% 109% Comcl Cred 1st(6%) 110s 32% 29 ComelCred pf (1%) 430s 33 29% Comcl Credit(B)(2) 20s 63% 56% Comcl Inv Tr t2%. 115% 111 Comel Inv cv pf(e6) 28% 17% Comel Solv (185¢). 1% % Comw-& Southn. 42% 29% Comw & Sou pf ( 847 27 Congoleum-N (1. 00) 10% 17 Consol Cigar....... 62 Consol Cigar pt (7) 15% Consol Film pt (j2) 15% Consol Gas N Y (1). 72% Consol Gas pf (5).. 6% Consol Oil.....cuee 2% Consol R R Cuba pf 9% Container Corp (A) 3% Container Corp (B) 414 Contl Baking (A). 62% Contl Can (2.40)... 28% Contl Insur (11.35). % Contl Motors.... 15% Contl O Del nzv.e. 62 Corn Prod Ret (3). 4% Coty Inc..... 12% Crosley Radio. - - - wranselvnoarantan® 5% Cuban-Am Sugar. 40% Cuban-Am Sug pf.. 570s 40% Cudahy Pkg (2%).. 2 15 Curtis Publishing.. 89% Curtis Pub pf (7) 2 Curtiss Wright.... 6% Curtiss Wright (A) ——eee 22% Deere & Co. . . 19 Deere & Co pf(j40c) 23% Delaware & Hudson 11 Del Lack & West..., 65 Detroit Edison (4). 36 Devoe& R (A)(12). 26% Diamond M (11.70). 34% Diamo'd M pf 11.70. 341 Dome Mines (14).. 8% Dominion Strs(1.20 17% Douglas Aircraft.. 13% Dresser Mfg A h1% 15 Duluth S S & Atl pf 991 86% Du Pont de N (2.60) 131 126% Du Pont deb (6)... The Star. 5% 8% 8 8% 8% 121% 121% 1% 1T% 1% 1 144% 144 124% 124% 119% 119 168 166% 13% 13% 32 32 Bdla 84% 10% 10% 101 101 1% 1% % an 3% 3% 10 23 140 1470 194 19 6% T6% T TH 4% 44 116% 116 141’ 140 3% 73 35 34% 64 63 140 140 22y 22 1 115 821 S5 B 113 59% 61y 41% 14w 14% 25% 4% 42% 23% 23% 100 100 206% 204% 16% 16% 105 105 11% 11% 79 7 8ls 15 41% 11% THE EVENING STAR, WASHINGTON, TRANSACTIONS ON THE NEW YORK STOCK EX NOTE—AIl New York Stock Exchanges are operating on Net. Dividend Rate. Audoo m;n. Low. Close. Chge. 5% — 8% + 12t + A5 IZ;“*- W 55 1% 11% 11% + % % % % % 144% +1 124% + 18% + 1T + bt A tE dbE H LI+ 4 25% + 17% - % — 9% + % % % FEE EFF FEPFEEEFIE FIEPEF s22%7 2F EFEFE FOF O OFREER ¥ 2 129% 129!i 120% +1% 1124 104 Duquesne Lt 1st (5) 20s 111% 111% 111% — % ———————— 146 110% Eutmln Kod (5) 20% 1 138% 25 }1:&‘2 '::N 18% fi‘l usum Nuwb‘fr'(ll)vé(l) IOI uc lll ue | 24 STOCK AVERAGES Compiled by the Associated Press. 30 15 Indust. Ralls. +.2 56.2 56.0 522 * 21, 21 Net change Today, close Previous day Month ago Year ago 1935 high . 1935 low 1934 high 1934 low 1932 low . 1929 high 1927 low 217. Stockand Sales— Dividend Rate. Add 00. 3% Eitington-Schild. . 19% Electric Auto Lits 37 Electric Boat. . 6% Elec & Mus Ind 3 Elec Pwr&Lt $7 pf. 1% Engineers Pub Sve. 14 Eng Pub Sve §5 pf. 14% Eng P S $5.50 pf ww 15% Eng Pub Svc $6 pf. 5 Equit Office Bldg Tk Erie RR.. 16% Evans Auto (n15e) . IO S0 0 0O i 00 17 Fairbanks-Morse. 5% Fed Lt & Trac.... 48 Fed Lt & Tr pf (6). 54 Fed Min & Smelt pf 3% Fed Motor Truck,,. . 281 Fid Ph F Ins(11.35) 46 First Nat Strs(233) 9% Foster-Wheeler.... 19% Fourth Nat In a0c. 8% Fox Film (A) 30% Franklin Simon pf. 17% Freeport-Texas (1) 15 Fuller Co pr pf 4% Fuller Co 2d pf.. 200: - 8., 4 12 38% 32% Gen Am Trans(1%) 9% T3 Gen Baking (60c).. RIS, Gen Baking pf (8). 5% Gen Bronze 3\. 2 GenCable. 35 19 GenCablepf 63% 50 GenCigar (17)..... 25% 35% 201 @en Electric (60c).. 32Y% Gen Foods (1.80) i Gen Gas & El (A 66% 5974 Gen Mills (3) . 118% 116 ~ Gen Mills pt (). 26% Gen Motors (1) 1174 10733 Gen Motors pf (5) 10 Gen Outdoors AdvA 9315 Gen Print Ink pf (6} 80 Gen Ry Signal pf(6; % Gen Realty & Util.. 164 Gen Refractories. 164 Gen Refrac ctfs. .. 12 Gillett Saf Raz (1). 7013 Gillett SU R pf (5). 2 233, Glidden Co (11.30). 1094 104°» Glidden Co pr pf (7) 1 Gobel (Adolf).. 14 Gold Dust (1.20) 1111; Gold Dust pf (6) 7t3 Goodrich (B F). 15% Goodyear T& R.... 70 Goodyear $7 pf (4). 5% Granby Consol..... 17 Grand Union pf 115 26 Grant (W T)(t1%) 9% Great Northern pf. 9% Great Nor Ore (50c) ¥ 26% Grt West Sug (2.40) 13714119 Grt West Sug pf(7) 2% 1 Guantanamo Sugar 24 19 Guantanamo Sugpt 12 Guif States Steel... 211, Hackensack W (113 Hahn Dept Stores. . Hahn Dpt Stores pf Hamilton Watch pf Hanna (M A)pf(7). Harb Walker (1).. 514 Hat Corp (A). 1a Havana Elec Ry 1% Hayes Body 9% 8 Hazell\llashl 5. =28 122 HerculesPpf (7).. 9% 5% Holland Furnace 400 338 Homestake M (1] 401 307% Houd-Hirsh A(’“a) 14~ 61 Houdaille-Hersh B. 17% 9% Houston Oil.. 113 Houston Oil (new). 43 Howe Sound (3)... 6% Hudson Motor Car. 3 Hupp Motors...... —_— 913 Iilinois Central. . 241 Indus Rayon (1. 68) 6013 Ingersoll-Rand (2). 46 Inland Steel (2)...4 2'3 Inspiration Copper. 4 InsurShct Md l4c. 164 8% Interboro R T(25¢) 175 149% Int Bus Mach (p6). 3% Int Carriers Ltd 20¢ 33 22% IntCement (1).... 43% 34 Int Harvester (60c) 2% 1% Int Hydro Elec (A). 3ls 24 Int Merch Marine.. 27% 22% Int Nick Can (60c) 413 Int Paper & Pw pf. 5% Int Tel & Tel.. 9 Interstate Dept Strs 6% Intertype Corp..... 29 Island Creek C (2). . ——— 57 49 Jewel Tea (3). 57% 38% Johns-Manville.... 2’”‘ % 554 3 5 - ® 0 aSiorem on merBolecBasadanan 3% Kans City Southern 153 Kayser(J)& Co 50c. 3 Keily-Spring T (k). 6 Kelsey-Hayes (A). 3% Kelsey-Hayes (B). 1413 Kelvinator (170c).. 84 Kendall Co pf 16.38 13% Kennecott C (60c). 23 Kinney (G R) Copf 22 19% Kresge (SS)(1)... 113 103 Kresge (S S) pf (7) 28% 23% Kroger Gr&Bk 1.60. ——— 28% 24 LambertCo (3).... 11% 5 Lehigh Valley RR. 6% 67% Lehman C (12.65).. 17% 143 Lehn & Fink (1%). 32% 21% Lib-O-Ford Gl 1.20. 109% 93% Ligg & Myers B(15) 167 151% Ligg & Myers pf (7) 17% Link Belt (60¢).... 24% Liquid Carb (t1 31% Loew's Inc (2). 1 Loft Inc..... 33 Loose-Wiles (2)... 1814 Lorillard P (12.20). 139 124 Lorillard P pf (7).. 1% % Louisiana Oil...... 16% 10% Louisv G&E(A)1% 47% 34 Louisv & Nashv(3). 18% 12% Ludlum Steel . _— 8% 204 o Suo w SR = g Puwwa a0 @ & o3t S Y S 28 McCall Corp (2). T4 McCrory Strs A (k) 574 McCrory Strs pf (k) 36% McIntyre Porcu (2) 90'% McKeesport T P (4) 6% McKesson & Rob. .. 813 McLellan Stores (k) 20% Mack Truck (1).... 301 Macy (R H)& Co(2) 18% Magma Copper (2). 4 Manati Sugar pf (k; 29 Man Elev gtd (k).. 13% Man Elevm g (k). 5% Marine Midld (40c) 6% Marshall Field..... 23% Mathieson Alkul/.) 5 Maytag Co 84!5 Maytag 1st pf (G) . 41 Melville Shoe(t2%) 20% Mengel Co pt 241 Mesta Mach ( 919 Mid-Cont Pet atse. 604 Midl'd Stl 1st pf(8) 3% Minn Moline Pow... 10% Mission Corp. . 2% Mo Kans & Texas. . 6 Mo Kans & Tex pf.. 1% Mo Pacific pf (k).,. 10% Mohawk C M (h25¢) 55 Monsanto C (1) O RNA N M RN @ we 0SS Rea 1% . 28% 174 Motor Products (1). 11% 7% Motor Wheel (50c). 9% 4% Murray Corp. . li% 11 Nash Motors (1)... 6% Nat Aviation...... !Ok 22% Nat Biscuit (2).... 151 141% Nat Biscuit pf (7).. 18% 133% Nat Cash Reg A 60c 17% 12% Nat Dairy Prod 1.20 4% 1% Nat Dept Store (k). 34% 17 Nat Dept S 1st pf(k 29% 23% Nat Distille 2). 136 121% Nat Lead pf (6) B.. 9 4% Nat Powr & Lt (80¢ % Nat Ry Mex 2d pf.. 50% 40% Nat Steel (11%)... 15% 9 Nat Supply Co. . 61 36 NatSupply Co ul 28% 22 Neisner Bros (f1 2908 4 1 10- 20. 34. 18.! 43. 8. 1534 95. 2 4 2 6 9 8 5 0 .8 1 9 3 High. Y 3 3214 551y 24'y 34 % 647 11642 15 Uil Bboch. +.3 274 L4440 010141+ 44 + 444+ 1441+ P+l + 1 +444 331 — 21 21 21 138 138 138 m 1 1 15% 3% 15% 30% 4 134 8 15% 38y 15% 30% 10% T5% 44 107% 61 IO'A 23 35% 133% 133% + 8 8 15% 39 4+ ¥ 15% + 30% + 10% 56 + FERLEFEFIEL # *t*##*# Lt % % % 3 4T% 4T% 4Th + % 2 13% 13% 13% " % Prev 1935 Low 12% N Y Central RR... 9% N Y Chi & St L pf.. 2% N Y N H & Hartford 6 NH & Hart pf. % Railways pt. 6% 0 90 N Y Steam 18t (7). 30 Noranda Mines (h2) 175 168 Norfolk & W (110). 4 2 North Am Aviation, 16% 9 North AmCo (1)... “94 86% North'n Central (4) 8‘ock and N 3 N 3 N 1 N N 21% 13% Northern Pacifie. .. ——————— e e 12% 9% Ohio Ofl (h45¢).... 4% 1% Oliver Farm Equip, 26% 15% Oliver FEDrpfA., 5% 3% Omnibus Corp... T% 4% Oppenheim Calllnl 18% 113 Otis Elevator (60c) 120% 106 Otis Elev pf (6)..., —_— 18% 134 PacificG& E (1%). 28% 19 Pacific Ltg (2.40)., 21 12% Pacific Mills (h50¢) 127 1111 Pacific T & T pt (6) 5% 1% % 6 1% 1% 10% Pan American Pet. 2% Par-Public ctfs (k) 2% Park Utah... 1 Pathe Exchang 10% 1% Peerless Motor 64% Penick & Ford l!).. 57% Penney (JC)(2)... 17% Penn RR (1)...... 30 Peoples Drug S (1). 17% Peoples Gas Chi... % Petrol Corp (h50c), 12% Phelps Dodge a23c, 23 ThilaCo 6% pf (3) 35% Philip Morris (1)... 13% Phillips Petrol (1). % Pierce Oil. 313 Pierce Oil pf. % Pierce Petroleum., 5'4 Pitts Screw & Bolt.. 1% Pitts United Corp... 6'3 Plymouth Oil (1)... 1% Porto R Am Tob B, 6'¢ Postal Tel & Ca pf.. 42% Proc & Gamb (1%). 20% Pub Sve N J (2.80).. 73 PubSve NJ pf (6). 34 Pullman Ine (3)... 5% Pure Oil 8% Purity Bakerles (!) 4 Radio Corporation. 35% Radio Corppf B... 1% Radio-Keith-Or (k) 20'% Real k Hospf... 8 Remington-Rand.. 71% Remington-R 1st pf 70 Remington-R 2d pf 2% Reo Motor Car..... 9 Republic Steel. 28% Republic Steel pf.. 75 RevereC&BDpf.... 174 Reynolds Metals(1) 124 Reynolds Spr (40c) 434 Reynolds Tob B (3) 21% Roan Antelope Ltd. 29t Roy’l D h1.35 3-10c. lma St Joseph Ld (40c). St L Southw'n pf.. Schenley Distillers. Seaboard Air L (k). Seab'd Oil Del (t1). Sears Roeb’k (Tic). Servel Inc Shattuck (F G) 25¢ Shell Union Of1. ... Shell Union Oil pt.. Silver King C (40¢) Simmons Co. Skelly Ofl. Sloss-Sheffi Sloss-Sheflleld pf. . Snider Packing. . Socony-Vac (60¢) .. Sou Porto R Sug (2) South Cal Ed (1%). Southern Pacific. .. Southern Railway. Southern Rwy pf... Sparks-Withington Spear & Co.. . Sperry Corp (°5c).. Spiegel-May-Stern. Stand Brands (1).. Stand Com Tobacco Stand Gas & Elec. . Stand G & E $4 pf.. Stand Oil of Cal (1) Stand Oil of Ind (1) Stand OiIl NJ(t1y) Sterling Prod (3.80) Sterling Secur (A). 34 Sterling Secur pf.. 22 A 203, 31 ™ Net. Dividend Rate. uuoo High. Low. Close. Chge. 4: };‘/- 16% 16% + % 1 13% 131 13% 12614 12614 126% — % 11y 2% 651 21% 33 22% 1% 3315 D. C, SATURDAY, MAY 4 1935.. Prev. 1935 High. Low. 5 3 12 15 15 + % 2% Stone & 8% 60% Sun Ofl 16% 11 Superheater (50c) 1% Superior Oll....... 1“ T-hutofllvh (80¢c) ‘Tenn ll% Texas Corb (l) . 28% Texas Gulf 8ul (2). 8% Tex Pac Coal & Ofl. 8% Tex Pac Land Trust 51 Thatcher M pf (3.60 2% Thermold Couvuvves 1% Thompson Starrett. 17 ‘Thompson Star pf. T8% Tide Wat Asso Oil.. 84 Tide Wat A O pf(6) 4% Timken-Detroit. 28% Timken RB (1).... 74 Trans & West'n Air 4% Transamerica (25¢) 1% Tri-Contl Corp. .... 4%4 Truax-Tra Coal 315 Truscon Steel...... 5 3 Twin iny RT 53% Und-Ell-Fisher (2). 30 Union Bag&Pap (2) 44 UnCarb&C1.60.. 14% Un Ollof Cal (1)... 8214 Un Pacific (6)...... 7914 Un Pacific pf (4) . 20% Un Tank Car (1.20). 9% United Alrcraft 4% United Afr L vte. 21% United Bisc (1.60).. 46 United Carbon 2.4 1% United Corp.... 208, United Corp pf (3). 9% United Drug... . 3% United Elec Coal. 1% United Fruit (3)... Inited Gas Imp (1) ited Pap'b'b (k). 2% United Pce D W . 43 US & For'n Secur.. , U S Freight (1).. 40'3 U S Gypsum U S Gypsum 45'3 35% U S Ind Alcohol (2) Tl U S Leather (A)... 14% U S Pipe & F (50c). U S Realty & Imp 9'4 U S Rubber.... 42%JR4'5 U S Rubber 1st pf 95 USSmelt&R (16). 27% U S Steel . T3% USSleelpf(’) . 313 United Stores (A)., 36% 10% % 3% 6 6 5 120% 121 + % 6 6 43% 43% +1 41 4ln+ % 90% 91 + % 18% 18% + % 28 28 W - W 11% 3% 4+ % 5% + % % 3% 3% 11% 3% 5% S 8% 10% 1% T2% 65% 20% 33 22% 9% 17 33 4314 191, % 3% % 6% 1% 10% 1 3% 5% % 8% 8% 10% + % 1% T2% 6514 1% 9% 9% 215 11 143 13% 22 7.8 S 17% 495 28%, 100% 1004 38 % 12415 ited 1 1% 13 Vadsco 19% Vadsco 21% 174 11' 24V 18 V. T2 63'2 Vulcan ar ar Wilcox Wilson Wilson 35%2 Wright 4l 2313, 2% Yellow 18 I+++ +++ 4 Approximate Sales 11:00 A.M. Dividend | deciarations % in stock stock. stock g dividencs. nized. stock. Plus 4% in L4444+ +1++ m Plos 6 2% Studebaker (new) iv Leaf Tob (2).. 1% Univ Pipe & Rad. .. 12 Univ Pipe & Rad pt Util Pwr & Lt (A).. 11% Vanadium Corp Van Raalte. 34' Vick Chem (2. VaEl& Pwpf (6).. —_— 4's Waldorf Sys (h20c) 27% Walgreen Co (1.20) Walgreen pf (6%3) Warner Bros Pic. Warner Bros Pic p: Warner-Quinlan. . . WessonO&S11%. West Pa Elec pf (1) West Pa Pw pf (6). Western Maryland. Western Pacific.... Western Pacific pf. Western Union. ... Westingh'se A B 50¢ Westingh'se Elec. . Westh'se 1st pf 3% White R’k M S 1.40. Woolworth (2.40).. 25!, Worth Pump pf A —_— Young Sp & W 113, 2l 13 Youngstown S&T.. ——— 3 Zonite Products.... [l cash pavments based on the latest Quaricrly o hai s Unit of trading less than 100 shares Paid 'ar—no € Payable in casn ot stock, st xComp.mu reported 1 x El-lfl\ldend FINANCIAL. 24a%o. lmn. Low. Close. chl' 9% M+ 4 % du+ % 2% 2% 73 13 Waebster (31).... ...-4.‘.'.‘ l“fi % & M+ u 3% — % 10% 50 -1 3% 3 19% = * 9% + 95 5% + 32% ~ - TS LT - P - 1 o 0 FEEEE ¥ R EPESEEEF 1). f (7). [ Sw Ci++1 04000+ 01 4 +1) [ O T L TOTOreS £ TOPi SIS - P RUPE - JOT0) G- [OTORRIY - JPTRS TP 9 Stores pf. - S Sales Corp.. Sales pf Chemical. Chem 6% p! [PYCICE TSI Detin (a4). 0il & Gas. & Coal2lze & Copf (6). Aero....... Truek. ... 3% Stock Exchange. . A‘o 000 of Stocks on the N. Y. 40 000 12:00 Noon in the above table 1Partly extra Rig] resular rate b Payable in | 1 Pius $1 in special preterred | & Pald this year ) Accumulated | recelversnip or being reor- | in stock. pPlus 2% | last ye ock in stock. n Plus By the Associated Press. NEW YORK, May 4 (#).—Cotton futures opened steady, 1 higher to 1| lower, with moderate liquidation taken by the trade. May, 11.85; July, 11.88; October, 11.51; December, 11.55; Janu- ary, 11.59; March, 11.67. Shortly after the opening, prices advanced moderately and into new high ground for the movement on a little covering and outside support. | July rallied from 11.88 to 11.93, with the market generally showing net gains of 4 to 7 points. Although Liverpool cables were relatively lower, they had no apparent effect. Futures closed steady, 3a10 higher. High " Low Las 1 1 1 1 1 1 mlddlml. 2, Commseed oil. Bleachable cottonseed oil futures closed steady: July, 10.56b; Septem- ber, 10.60b; October, 10.48b. Sales, 21 contracts. b—Bld leern-ol nnuuhnl ERPOOL. May 4 (#.—Cotton, 1.000 m:luflm: nm America! Spot i'.i‘éfl:i"‘-:‘i.‘k‘z’."fi“ done: prices 4 points T g0l lotations in vence: = American 7.15; strict middling, strict low middling, 8.45; stric LIV] bales. 7 00 6.70; low mid dling, _z num ordinary, = seegl e CHICAGO STOCK MARKET CAGO. May 4 () —Following is th mplete “offcial list 61 transections ‘in ;x.o’c: s on the Chicago Stock Exchange to- Sales (actual). [y wlr T i 50 Brn PAW B ol Be 5L 470Cen I 200 Cen -t Bl aRameS e auizn S8 1 PR Py FEESSE W [onor S0Crane Co 10 250 Gt e: 2800 Houd-Her 1 lolntfl'l Pow l7 Dl 0 Iron Pireman Ei TR SRS 8‘# SR 200 Keritone .ae:k!' i m lon “ee S oo s SRR o SiENaBRREEE R, o NEW YOBRK BAR SILVER. NEW YORK, May 4 (#).—Bar silver | firm, 13 higher at 73. CHICAGO LIVE STOCK. | CHICAGO. May 4 (# (U. 8. Department of Asficulture).—Cattle, 400; calves. 200; compared Priday last week: strictly good ‘nnd choice medium weight and heavy fed eers. 25 to 40 higher; comparable year- lmas and light steers strong 25 up; lower grades steady to lower. kinds of salue to sell at, 110081350 showing most decline: top. 25 on crop. Rext highest price 1583+ best NEnt steers: \ 13.00; vearlings. 14 55: ‘ight steers krad: ®ood and ' better predominated in e e mediun grade steers offered and fairly active and | fully steady feed market supported these 7.00a8.50; best meaty : good and choice heifer higher:, best in load lots. odd lots. other _ heifers | steady 1o strong: fat beet cows 55 Tower: | cutrers steady: sausaze bulls steady with beef bulls 35 off; vealers. 50a1.00 lower. Sheep, 4.000; for week ending Friday, 20500 directs: compared " Friday _ last 50 lower. sheep s top clipped lambs, closing top. 7.15. Teeders yearling \ H 50; osing’ Tiin, around .50a% 15 accoraing 16 Quality and Welkhi: very few Spring Iambs on sale, few head and scattered odd lots 50: first Califor nominaily g v: quotal shippe; fone: " estimated b $000; 211 Gustations nominal: 4a2R34: firsts centralized (90 easy. Prices uncha: Cheese. 112,837, d. All freight and Live poultry nominal. express grades unquoted Dressed poultry steady. Al,l fresh and frozen auotations unchanges Ezgs. o8 URrmer " a11red calors: elections from fresh re- standards and commer- pounds. 23; avera storage-packed = firsts. 26, Resale of premium marks. 2913a; whites _unchaneed. — Brown: standards, 26%: other bro'nl un- chansed. FOREIGN EXCHANGES. NEW YORK. May 2 (/P\.—Foreign ex- change steady: Great Britain in dollars, gthers In cents. Great Britain, dema 4.84; cables. 454; mv ;day_bills ance, demand, 3501 i Demands: Holland. m cny' 'ufi;e: °"'"“ M it ;ea 0: real in New_Yor a" Rew York in Montreal 00.25. n CHICAGO PRODUCE. CHICAGO. May 4 (®.—Poultry, live; h:m enln. others -mar 12 u'uucz. hu'u. Dounds under, 20; 5 pounds up. '1 oLr.!d.'M 25 fock brolera! 51aabi: colorgd: 23, Rock brollers. 37154211 colored. o er 655, Ol s iib: pments. - eral, trading llld de; .Mk SII” E‘mu. :lnv 'fll OLh nsin_round . wii Dlrtly ld!lfllhd'- flb.vwgmernlll '85: roun; 0; !. Ne 1 00 mu quality, heavy ms " New wc !unnlm end tnd- Sloy 3 umuln;n- m‘ T ehfl 1, part " s. Allblml “Bliss Triumphs, 2 some decayed, 2. 1.40al. 5"v MMB dmnd . 10.443. " unsettled: |MONETARY GOLD STOCK | | CONTINUES TO CLIMB | By the Associated Press. The monetary gold stock of the| | country continues to climb to record | figures, with uncertainty over the po-: | sition of the European gold bloc con- | tributing to imports of the metal. | Silver purchases are adding to the N huge currency and credit base. The gold stock, as reported by the Federal Reserve banks, compares as| | follows: | Week ended May 1 | Preceding week Same week last i ———e U. S. TREASURY POSITION. By the Associated Press. The nosman of the Treasury on May 2 { was: Recel 0! Cxpenditares 1.000,000 1.000.000 | 5.000.000 301.858; "expenditures, . 805,462 (inciuding . So050047 emergency !mndlmus\ fnditures 2 933,60 DIVIDENDS ANNOUNCED YORK, May 4—Dividends de- elare d (Prepared by Standard Statistics Corp.). Regular, Pe- Sik nf Pny- R 1t Boott Mils. Sl R_shares. which are cum 3. Accumulations on b ance outstanding shares are proportionately Jower depending upon date of isgusnce.) Hope Webbing. ... . $1.50 4-26 5-1 Kelvinator Go of" Cani Ltd Gud pf. May Dept McColl: Homenlc of m’sfimcs STOCKS W _YORK. May & (P.——New York Se- | Birst Boston Cor | First National (100) °, A CHA NG E §T0CKS ARE FIRM gh. Dlvimd Rate. 10% 6% Stewart-Warner ATWEEK'S CLOSE Renewed Activity in Sugar Shares Is Feature of Short Session. BY VICTOR EUBANK, Assoclated Press Pinancial Writer. NEW YORK, May 4—The stock market maintained its steady to firm appearance in today’s brief session with all divisions of the list showing moderate improvement. Renewed ac- tivity in sugar shares was one of the features. The closing tone was firm. Sales approximated 530,000 shares. Leading commodities were indiffer- ent. Wheat was a trifle lower in Chi- cago and corn could do no better than hold even. Cotton, however, improved modestly and bar silver was advanced 1, cent an ounce to 73 cents. PFirm- ness was displayed by corporate bonds but U. S. Governments were a shade lower. Foreign exchanges were quiet and without feature. In stocks a long list of leaders in every corner of the list stepped readily into line at the invitation of the sugar shares, which edged into inside track position shortly after the open- ing and gave a convincing demon- stration of strength.' Cuban-Amer- ican Sugar preferred got up 9 point and then slid back slightly, but ende the session with a substantial gain American Sugar preferred gained and Great Western preferred adde: 4 to its quoted value. Others im- proving included Cuban-American common and South Puerto Rico. Favorites in other divisions showin: improvement included Inland Stee! Republic Steel preferred, United States Steel, Du Pont, Chrysler, Gen- eral Motors, J. I. Case, Sears Roebuck Montgomery Ward, Westinghouse. Standard Oil of New Jersey, Ameri- can Telephone, Consolidated Gas Pennsylvania, Santa Fe, Union Pa cific, Howe Sound, American Smel'- ing, Cerro de Pasco and Unite. States Smelting. FEDERAL L.AND BANKS NEW YORK. May 4 (#.—FPederal Lar Bank bonds l4s | 3V 193 INEW YORK E BANK 'STOCKS NEW YORK. May 4 P —New Yor Becurity Dealers’ Association: Bank of Manhattan (1'2).. Bankers' Trust () Bid. o Cen. Han Chase National (1.40) Chem. Bk. & Tr. Commercial (%) | Brooklyn Trust «4) .0 Bk. & Tr. (1.8Q Empire Trusi (1). Fifth Avenue (i4a)’ (13) Guaranty Trust (12 Irving Trast (1) Manufacturers’ Trist National City New York Trust (5) Public (1! Title ‘Guaranty’ & ¥ United States Trust (;0a & Including extras. INVESTMENT TRUSTS NEW YORK May 4 (7 —New York Se- curity Dealers’ Association, Bid. _ Asked Admin Fund w w Am Bankstocks Am Business Shrs Bullock Fund . Cumulative Tr Sh " Corporate Trust Corporate Trust A A Corp Tr A A mod Corp Trust Aceu Corp Tr Act Depos Bk St Depos Ins Shrs A iversified Tr C tvidend Shrs Five-Year Fixed Tt Fixed Trust Sh Fixed Tris Sn B Fund Investors Inc . Fund Tr Shrs A Pund Tr Shrs B Incorp Investors Inv Tr N ¥ Coll “A" Investors Fund of Am Inc Mass Invest Tr Mutual Invest Nation Wide Sec vte Nor Am Tr Sh Nor Am Tr Sh 195! Plymouth Fund A Quarterly Inc Shrs | Selected 'Am Sh Selected Am Sh Inc Selected Cumul Sh . Selected Income Sh Spencer Trask Fund Stand Am Tr Shrs Stand Util Inc Super of Am Tr A Super of Am. Tr Super of Am Tr B Super of Am Tr BB Super of Am Tr C Super of Am Tr D Supervised Shrs | Trust Fund Shrs | Trusteed Am Bl WE WILL BUY Subject to prior transactions, Detrait & Canada Tunnell 6s, 1945 Ebbitt Hotel 6';s, 1931 International Match 5s (Bonds or Ctfs. at Dep.) Norfolk & Southern 5s, 1941 We have bids for various tnactive securities. and will be glad to furnish quotations. CHARLES M. STUART 1026 Woodward Bi We Will Make First Trust Construction Loans on l!l‘dtnlhl Properties. _ Prompt B 5% Real Estate Morlg-ge and Guaranty Corporation 1610 K_St. Phone Nat. OFFICE EQUIPMENT WE SELL, BUY or EXCHANGE N.W. 1103 !l::l Cabinets BAUM'S FURNITURE HOUSE 1416 Eye St. NNW. Ph. NA. 2184 NEW Dealers” Assoeial curity Dealers’ B Asked. Aetna Cas. (2'2a) Aelnn Plr: .1 l‘") Tty New ok Fire (150 ¢) | Nor. River (70ca) Ehoenix (2ta8) . LOANS ON HOMFS Monthly Payments as Low as 750 . *1,000 No Commissions COLUMBIA BUILDING ASSOCIATION 716 11th St. N.W. . 1. Wexlchuler [ a—Including extras. s—Declared or paid Member Federal Home gll Bank System