Evening Star Newspaper, May 15, 1935, Page 18

OF BANKING BILL Francis Law, Former Head of A. B. A., Appears at Senate Hearing. BY EDWARD C. STONE. Prancis M. Law, president of the American Bankers’ Association last year, told the Senate Subcommittee on Banking and Currency yesterday what he thinks of the proposed banking act of 1935, especially criticizing Title I1. While here he was also wel- comed by many friends in the financiel district. Hedeclared that ore question with which the A. B. A is con- cerned primarily is the all-impor- tant and all-pow- erful committee having charge of open market oper- ations. Referring to the changes pro- posed in the House bill. with an Ad- visory Committee of Reserve Bank governors, but who would have no voting power, Mr. Law asserted: “We believe that these governors, acting merely in an advisory capacity, will have no real authority, and I am convinced that they should have real Experience teaches that boards and committees, gen- erally speaking, are not much more than gestures.’ Mr. Law said any change as pro- posed in the House bill should be more gradual, and since the Federal Reserve Banks are owned by member banks, “it would seem fair that these regional Reserve Banks should have membership and voting power in any committee vested with such far-reach- ing functions and powers.” The changing status of the re- gional governors would bring & fresh viewpoint as opposed to the Federal Reserve Board members living in po- litical Washington, he added. Full membership of representatives of the regional reserve banks would do much to quiet existing criticism dirested by those who fear the potential dangers of over-centralization of power in any small group. He declared this was the original intention of the federal reserve act. Simmons Back in Service. Brokers in the financial district here today ex- pressed gratifica- tion over the elec- tion of E. H. H. Simmons as vice president of the New York Stock Exchange, at the request of the new president, Charles R. Gay. President of the exchange for six consecutive terms, 1924 to 1930, in- clusive, Mr Sim- £ H. H. Simmons. ~ MOns Will give to the executive po- sition the benefit of a great deal of valuable experience. He was elected by the Board of Governors. Prior to service as president, Mr. Simmons for three years was vice president under President Seymour Cromwell. He purchased his member- ship in 1900 and became a zovernor of the exchange in 1909. As chair- man of the Law Committee, probably the most important committee of the exchange, Mr. Simmons has taken an active part in the adjustment of the exchange’s affairs to mect the changed conditions incident 1o the passage of the securities exchange act of 1934. Eccles to Address Bankers. Marriner S. Eccles, governor of the Federal Reserve Board, will address the 1935 annual convention of the Pennsylvania Bankers’ Association on June 5, it was announced here today. ‘The convention will be held at Scran- ton, Pa. Robert V. Fleming will be the chief speaker at the annual convention of the South Carolina Bankers' Associa- tion, being held this week at the Fort Sumter Hotel, in Charleston. Secretary Morganthau has an- nounced that subscription books will close on May 23 for the current offer- ing of 27 per cent Treasuwry bonds of 1999-60, in exchange for first Lib- erty bonds called for redemption on June 15. The report of the Reconstruction Finance Corp. of its authorizations and commitments to April 30 shows Joans authorized to 7,396 banks and trust companies aggregating $2,345.- 905,765. Of this amount, $345,130,495 was withdrawn or canceled, $142402,- 848 remains available to the borrow- ers and $1.858,372.423 was_disbursed. Of this latter amount, $1,335,666,744, or 72 per cent, has been repaid. April Insurance Reported. New life insurance production in the United States during April by 42 companies having 83 per cent of the total life insurance outstanding in all United States legal reserve companies totaled $733,870,000, compared with $790,495,000 a year ago, a decline of 7.6 per cent. For the first four months this year, however, new production showed an increase of 5.2 per cent over the cor- responding period last year. Total new business for the period amounted to $3,046.862,000, compared with $2,- 895,653,000 last year, according to figures compiled by the Association of Life Insurance Presidents. Detailed figures for Washington will be announced shortly. As there was a gain here in March of 17 per cent the April figures no doubt will be abeve the national average. The Life Insur- ance week drive is being pushed vigor- ously with excellent results reported for Monday and Tuesday. One agency, the New York Life, combined the campaign for two days with a special drive in honor of the birthday of Earl D. Krewson, agency director, 82 appli- cations being reported. Permanent Listing Requested. The Washington Stock Exchange reported today that another issue listed on the board had asked for per- manent registration with the Securi- ties Exchange Commission. The latest application covers Chesapeake & Po- tomac Telephone of Virginia first 5s, bonds which sell above 100, the pres- ent bid price being 105. On the exchange today City & Sub- urban 5s sold at 871, a new high, and there was a $9,000 transaction in ‘Washington Market first 5s at 97, this also being above recent bids. Cnplul Traction 5s were in demand at 98. Norfolk & Washington Steamboat stock sold at 85, Potomac Electric Power 6 per cent preferred at 10815 and the 5% per cent preferred at 112%. Real Estate Mortgage and Guaranty preferred moved to the ex- 'gn::‘t 25 shares at 3%; and 100 shares at Fred McKee, vice president of the ercial Francis M. Law. Prev. High. 114 % 3314 11% 8‘4 135“) 1% 20t 1% 128 14844 12719 150 24 6% B 26 6% 17 74 137 18% 943 a3 704 llfl' 17 109 6% 42% 106 6la uu. 14 17h 384 34% TT% 264 13% 111 441 10 597% 98 25% 3514 9% 31 358, 36% 44'5 9% 31z 118% 3213 £3 58% 663 115% 23% 1% 45% 34% 12% 42 1»15 ltncl lnu Low. _ Dividend Rate. 110 Abr & Strau: (7 4% Adams Exp: 28Y% Adams Millis (2) 8 Addressograph 4% Advance Rumle; 6% Affiliated Prod (80c 104% Air Reduction (3).. % Air-Way Elec Appl. 15% Alaska Jun (11.20). % Alleg Corp (K)..... 6% Alleg Cp prpf (k). 125 Allied Chem (6).... 12213 Allied Chem pf (7). 12 Allis-Chalmer: ) 26% Amal Leath D 48% Amerada Corp (2).. 42 Am Ag Cem Del(3). 13% Am Bank Note..... 43 Am Bank N pf (3).. Am Brake Sh (t85¢) Am Brake Sh pf(7). Am Can (15)..... Am Car & Foundry. 2515 Am Car & Found pf. 66 Am Chicle (t4)..... 22% Am Comcl Alcohol. 6'5 Am Crystal Sugar.. 578 Am Crystal Sug pf. 1% Am Encaustic. . 2 Am & Forelgn Pwr. 14 Am & For Pw pf (7) 3" Am & For Pw 2d pf 17 AmHide &L pf.... 29% Am Home Pr (2.40). $15 Am IceCo..... .00 287 Am Ice Co pf (6)... 43 Am International 1% Am La Fran pf (k 9 Am Locomotive 181 Am Mch & Fy (80c) 4% Am Mach & Metals. 1313 Am Metals. ... 114 Am Power & Light. 8% Am P&L $5 pf (1%) 10% Am P&L $6 pf (1%) 10's Am Radiator...... 134'; Am Radiator pf (7) 15% Am Rolling Mills. . 66 Am Safety Raz t5% 4'; Am Seating. . . 20 Am Shipbldg (2)... 31% Am Smelt & Ref... 103 Am S&R 6% pt i1l 63 Am Snuff (13%). 125 Am Snuft pf (6) 12 Am Steel Foundry.. $8 Am Stl Fdry pf (2). 33'3 Am Stores (12%).. 5512 Am Sugar (2) . 12613 Am Sugar pt ( 1815 Am Sum Tob (1). 9874 Am Tel & Tel (9) 72% Am Tobacco (5). 74% Am Tobacco B (5).. 9 Am Type Fdrs pf(k Ti4 Am Wat Wks (80c). 48 Am Wat W 1st (6). 4% Am Woolen. . . 38519 Am Woolen pf. 21, Am Writ Pap pf (k) 3 Am Zinc & Lead... 8 Anaconda Copper 16% Anaconda Wire 137 Anchor Cap (60c).. 103 Anchor Cap pf(6%) 3t Andes Copper 36 Archer-Dan M f1i4. 97 Armour Del pf (7). 3% Armour of Illinois. 55%% Armour I11 pr pf (6) 4 Arnold Constable. .. 715 Asso Dry Goods.... 35% Atch To&S F (h2).. 66% Atch To&S F pf (5) 191 Atlantic Coast Line 3 AtlGulf & W Ind.. 21% Atlantic Ref (1)... 324, Atlas Powder (2).. 106% Atlas Powder pf (8) 15 Auburn Auto 3 Aviation Corp Del. . 11 Baldwin Loco (k) .. 71, Baldwin Loco pf (k) 714 Baltimore & Ohlo. . 91 Baltimore & Ohio pf 36% Bang & Aroos (2%) 3213 Barker Brothers pf. 5% Barnsdall Corp.... 15% Beatrice Cre (a50c) 11% Belding-Hem (a50c) 117 Bendix Aviation... 151 Beneficial Loan 1% 34 Best&Co (2).. 21% Bethlehem Steel... 55% Bethlehem Stl pf... 14% Bigelow-San Corp.. 1031 Bloomingdale pf ('l) 28Y% Blumenthal pf. 61 Boeing Alrpla 49% Bohn Alum&Br 90 Bon Ami (A)(15) 21 Borden Co (1.60) 28y Borg Warner (14). 815 Bridgp't Brassalle 2415 Briggs Mg (2).... 2314 Briggs & Strat (3). 308 Bristol-Myers t2.40 36% Bklyn-Man Tr (3).. 90 Bklyn-Man T pf (6) 1% Bkiyn & Queens. ... 53 Brown Shoe (3) 4% Brunswick-Bal 4% Bucyrus Erie. . 81 Bucyrus Erie cv nf. 62% Bueyrue Erie pf (2) 3y Budd (EG) Mfg... 23 Budd (EG) Mfg pf. 2% Budd Wheel . 8% Bullard Co. 3 Burns Bros pf. 13% Burr Add M (60¢) 1 Bush Terminal (k) 10 Bush T Bldgpfect.. 114 Butte Copper & Zlnt 11% Byers (A M 347 California Pkg (1% 1 Callahan Zinc.....s 215 Calumet & Hecl: T3 Campbell-Wy (a20e) 8% Can Dry G A (40c). 9% Canadian Pacific. .. 4% Capital Admin (A). 321 Cap Adm pf A (3).. 45% Case (JI) Co...... 361 Caterpil Trac(t1%) 19% Celanese Corp..... 22% Cent Aguire (134).. 613 Century Rib Mills. . $8% Cerro de Pasco (2). 3% Certain-Teed Prod.. 37% Ches & Ohio (2.80). 36 Chesapeake Corp(3) 1% Chi Gt Westn pf (k) % Chi Mill StP&P... % Chi Mil St P& P pf. 2% Chi & Northwest... 414 Chi & Northwest pf 4% Chi ?:umnlu Tool 20 Chi PneuTool pf.. 11 Chi R I&P 6% pf (k) 1% Chi R 1&P 7% pf(k) 25% Chickasha CO (2). 9 Chile Copper...... 31 Chrysler Corp t13%. 20 City Ice & Fuel (2). 10s 18 A—18 ##% FINANCIAL. THE EVENING STAR,” WASHINGTON, D.” C.,” WEDNESDAY, MAY 15, 1935. " i A8 e A — ATTACKS TITLE 11 TRANSACTIONS ON THE NEW YORK STOCK EXCHANLES][][}KS[N[][]AY C.Mh'l'lllhl\ A“Ofl High. Low. Olose. CBI' 1121% 112% 112% -1 6% 6 6% + % 31% 31k 31% 1% 1% 1% = % 8 % Tw—% 8% 8% 8W 132 uo 182 + 4% % l'an l’l lz ]2‘( 12\‘ 124 — % 150% 147 150 +38 1243 124% 124% 3 18% 288 3 87 City Ice & F pf 6%. 110- 12% Clark Equip (80c! 1617 Coca-Cola 8) 53% Coca-Cola ( 15% Colgate-P-P (500). 9 Collins & Afkman. . 69% Collins & Atk pf (7) 6% Colonial Beacon Oil % Colo Fuel&Iron (k) 5 ColoF&I1pf(k)... 10% Colo & South. a 3% Col Gas & Eles 341 Colum Pio vte (m1) 67 Colum Carbon (4).. 89% Comcl Credit (2)... 521 Comel Credit(A)(3) 28 9 194 18% 18% 2% - R FEFEFPEF VEL L+l ++++ +1 0+ FEXFEFEEEESL 4 i & e 3 + 1+ 13 & FSFEFEFESE I+ ++++41+++ & ] L+ 4+ 000 ++ EEFP FEF FEEPFFFS II: L+ ¥ OFE Faes ~|l+ +1 |Cl°l‘l+0~ I+i+1+ 4 FEE FE FIF OFEFEF =5 T+ 1+ + [ FFEFEREFEFEIEF P FEE FF FESP 48% 59% 109% Comcl Cred 1st(6%) 180s 117% 29 Comecl Cred pf (1% ) 210s 32% 29% Comcl Credit(B)(2) 810s 32% 573 Come Cred Arcts(3) 56% Comel Inv Tr $2%. 111 Comecl Inv cv pf(e6) 17% Comel Solv (t85¢).. % Comw-& Southn. 2914 Comw & Sou pf ( 27 cvnznl.nm-u (1,60 9 Congr! 1 23% Conn Ry & Lt (l%) 100: 7 Consol Cigar....... 71 ConCprpf wwél. 73 ConCgppfxwéi. 4% Consol Film....... 15% Consol Film pt (32) 15% Consol Gas N Y (1) 72% Conso! Gas pf (5).. 6% Consol Oil. 2% Consol R R 1 Consol Textlle..... 9% Container Corp (A) 3% Container Corp (B) % Contl Baking (B).. 62% Contl Can (2.40)... 7 Contl Dia F (albc). 28% Contl Insur (11.35). % Cont] Motors. . 154 Contl O Del a12%e. 62 Corn Prod Ref (3) 108 208 13 7 k(] 5 160 9% STOCK AVERAGES Compiled by the Associated Press. 30 15 Indust. Rails. +.3 223 220 20.1 319 216 18.5 43.0 228 8.7 1539 95.3 Net change ... Today’s close . Previous day . Month ago . Year ago 1935 high 1935 low 1934 high 1934 low 1932 low 1929 high Bales— Add 00. High. 10 33% Prev. 1935 Stock and High. Low. Dividend Rate. 23% CrownC&S (1)... T4% Crown WP1st pf (4) 31% Crown-Zellerback. . 14 Crucible Steel..... 47% Crucible Steel pf. 1 CubaCo... 5 CubaRRpf. 40% Cuban-Am Sug pf 40 Cudahy Pkg (2%) 15 Curtis Publishing 89% Curtis Pub pf (7). 2 Curtl 6% Curtiss Wright (A) 16 Cutler Hammer.... 22% Deere & Co. . 19 Deere & Co pNJlOc) & Hudson Detroit Edison (4). 2615 Diamond M (11.70). 341 Dome Mines (14).. 8% Dominion Strs(1.20 17! Douglas Alreraft. . 13% Dresser Mfg A h1l R6% Du Pontde N (2.60) 42 131 126% Du Pont deb (6)... 11 11214 104 Duquesne Lt 1st (5) 2208 146 110% Eastman Kod (5). 155 141 Eastman Kod pf (' 20% 168 Eaton Mfg (1) 29 19% Electric Auto 112 107 Elec Auto Lite pf 64 3% Electric Boat. 3% 1 Elec Pwr & Light. 13% 2 Elec Pwr&Lt $6 p! 14 3 Elec Pwr&Lt $7 pf.. 4912 39 Elec Stor Bat (3%). 609 52% Endicott-John (3).. 5 [Equit Office Bldg. T4 Erle R R a1 ErieRR R oo aRon- 3% Fed Motor Truck. 7» Fed Water Sve (A). 281 Fid Ph F Ins(11.35) 106% Filene'sS pf (6%).. 134 Firestone (40c).... 8415 Firestone pf A (6). 45% First Nat Strs(2%) 20% Food Mach (1). 9% Foster-Wheeler 60% Foster-Wheeler pf. 4% Foundation Co. 19% Fourth Nat In asoc. 8% Fox Film (A) 30% Frankn Sim pf j1% 17% Freeport-Texas (1) 15 Fuller Coprpf..... PYTToeryey » S 00 e 0900 001 00 7 Gamewell Co. 515 Gen Am lnvestors. . 32% Gen Am Trans(1%) 11% Gen Asphalt 7% Gen Baking 5% Gen Bronz 2 Gen Cabi 4 Gen Cable (A) 19 GenCable pf. 50 Gen Cigar (17). 20% Gen Electric (60c). 32% Gen Foods (1.80)... 597 Gen Mills (3). 344 26% Gen Motors (1). 117%4 1071 Gen Motors pf ( 813 17% Gen Print Ink (1. 931 Gen Print Ink pf 15% Gen Ry Signal (1).. % Gen Realty & Util.. 14% Gen Real &U pf ww 16% Gen Refractorie: 16% Gen Refrac ctfs 14 Gen Stl Casting pf. 12 Gillett Saf Raz (1). 70% Gillett Stf R pf (§). 2% Gimbel Bros. . 18 Gimbel Bros pf. 23% Glidden Co(71. 109% 1047 Glidden Co pr pf (7) 14 Gobel (Adolf) 14% Gold Dust (1.2 ‘ita Goodrich (BF). 4 133 11 4 20 Gotham Silk H pf 11 Graham-Paige 5% Granby Consol. 2% Grand Unon.. 16% Grand Union pf 1% 26 Grant (W T)(11%) 9% Great Northern pf. 9% Great Nor Ore (50¢) 26% Grt West Sug (2.40) 33 1 Guantanamo Sugar. 4 19 Guantanamo Sug pf 100s 48 Gulf States Stl1st. 10s _— 31 Hahn Dept Sto: 55 Hahn Dpt Stores pf. 4 Hall W F Printing. 615 Hamilton Watch... 16 Harb Walker (1)... 5% Hat Corp (A).. 81 HatCpfww (6%). 300 4 Havana Elec Ry... 1% Hayes Body....... 85 Hazel Atlas Gl (5). 11 Hercules Mot (60c). 80 71 Hercules Pw (13%) 128 122 Hercules P pf (7).. 81% 73% Hershey Choc (3) 9% 5% Holland Furnace... 11 6% Holland & Son (50c) 412 338 Homestake (136%). 40% 30% Houd-Hirsh A(2%) 14% 6% Houdaille-Hersh B. 1% 3% 56 5% 1314 2 11 9 122 6 ™ ~amman 2% Hudson & Manhat. 6% Hudson & Man pf. 12% 6% Hudson Motor Car. 3% % Hupp Motor: ——— 17% 9% Illinois Central. 23% 15 Illinois Central pf 33 2314 Indus Rayon (1.68). 88 60! Ingersoll-Rand (2). 64 46% Inland Steel (2) 3% 214 Inspiration Copp: 6 4 Insur Shct Md 14 164 8% Interboro R T . 1 4% Interlake Iron 5 2% Int Agricultur 42% 31 Int Agriculture pf., 179% 149% Int Bus Mach (p6). 6% 3% Int Carriers Ltd 20¢ 83 22% Int Cement (1)... 34% Int Harvester (60c) 1% Int Hydro Elec (A). 22% Int Nick Can (60c). 3 Int Paper & Pw (C) 4% Int Paper & Pw pf. 9814 Int Print Ink pf (6) 9% Int Rys Cent Am pf 29 Int Salt (1%) . 42% Int Shoe (2).. 60% Int Silver pf (4) 5% Int Tel & Tel. .. 36 29 Island CreekC (2). ——————— 57 49 Jewel Tea (3) 57% 38% Johns-Manvill 73 50 Jones&Laugh —_— 8% 3% Kans City Southern 6% Kans City South pf. 16% Kayser(J)& Co 50c. % Kelly-Spring T (k 6 Kelly-Spr T 6% pf. 6 Kelsey-Hayes (A). 3% Kelsey-Hayes (B). 14% Kelvinator (170c).. 19% 13% Kennecott C (60¢). 38 23 Kinney (GR) Copt m- 22 19% Kresge (88)(1)... 17 113 103 Kresge (S S) pf (1) _20s 28% 234 Kroger Gr&Bk 1.60. 27 — 12 Laclede StL... 19% Laclede 28% 24 Lambert Co (3) 12% 5% Lehigh Val Coal pf. 11% b6 Lehigh Valley R R. 71% 67% Lehman C (13.65).. 17% 14% Lehn & Fink (13%). 213 Lib-O-Ford Gl 1.30. » s N A NONOT AR ORI —O - © 69 1 s €09 00 i 0 1 00 - B e wmA=S 8% 104 87 308 s 15 Util. Btocks. +2 42 283 418 28.1 416 25.7 38.1 40.7 418 348 51.4 349 16.9 618 EEJIFF FE ESF t++ 11 S& EFEET FF ¥ I+ A P F F 5 + 3 40+LI 1++++ FEF FEIETEETES 8 36% 13% + % 16 2% 51% + % 3U-%u 8 8 1% + % 1% + % 18 + 5% 25 — % 84 -2 62 + % 3% + % 6 + % 2% - % 5% + W 8% 351 179'/. lflWn 41% 5 5% + W 28 28% + % 42 42 -% 1% 1% — % 28 28% - % % % 8% 8% - ¥ 104 104 9% 38 -% 46% + % 68 -2 T% 28% — % 56% + % Prev. 1038 Stock and Bales— Life Saver (1.60)... 94% Ligg & Myers (15). 93% Ligg & Myers B(15) 167 Lily Tulip Cup(1%) 17% Link Belt (60c).... 24% Liquid Carb (t1%). 31% Loew’s Inc (2)..... lflllfi 102 Loew's Inc pf (6%) 36% 83 Loose-Wiles (2)... 21% 18% Lorillard P (+2.20) 14% 7% Louisiana Oil p: 17% 10% Loulsv GEE(A)1 47% 84 Louisv & Nashv(3) — 32 28 McCall Corp (2).... 13 T% McCrory Strs A (k) 614 McCrory Strs B (k) 36% MclIntyre Porcu (2) 901 McKeesport T P (4) 6% McKesson & Rob. .. 33 McKesson & Rob pf 814 McLellan Stores (k) 20% Mack Truck (1).... 3015 Macy (R H)& Co(2) 5% -Madison Sq Garden. 1 7 Mallison&Copt... 10s 4 Manati Sugar pf (k) 1208 18 ManElevmg (k)... 6 415 Marancha Corp.... 5 5% Marine Midld (40e) 23 20 Marlin-Rockwell(2) 1 6% Marshall Fleld..... 7 23% Mathieson Alk(13) 35% May Dept Str (1.60) 5 Maytag Co.... 8414 Maytag 1st pf (6). 41 Melville Shoe(t2%) 20% Mengel Copf....... 241 Mesta Mach (1%).. 27 M-G-M Pic pf (1.89) 2% Miami Copper...... 914 Mid-Cont Pet albe. 8% Midland Steel Prod. 601 M14Yd Stl 1st pf(8). 58 Minn-Hon R (3%). 3% Minn Moline Pow. . 31 Minn Moline Pow nt 1% MStP&SSMlsin 10% Misslon C 2% Mo Kans & 57% Mo Kans & Tex vf. . 1% Mo Pacific (k)..... 10% Mohawk C M (h25c) 55 MonsantoC (1).. .. 21% Montgomery Ward. % Mother Lode. 1734 Motor Products (1). T4 Motor Wheel (50c) . 7 Mullins Mfg.. 36% Mullins Mfg pt 4% Murray Corp. . 30 Myer(FE)&Co 1.60. 18 1 6 5 55 1 <h Motors (1) 415 Nat Acme Co.. 6% Nat Aviation.....e. 22y Nat Biscuit (2).... 131 Nat Cash Reg A b0c 12% Nat Dairy Prod 1.20 16 1% Nat Dept Store (k). 9 17 Nat Dept S 1st pf(k 80s t Distillers (2).. 44 t En & Stpg (h1) 2 1 7 7 16 13008 1 1 43 10 t Powr & Lt (80¢ t Steel (11%)... 9 Nat Supply Co.. t Supply Co pt.. 43'3 Newberry(JJ) 160 7 11815109 Newberry (JJ)pf(7)x 108 1 8 4% Newport Industries 281 18's N Y Alrbrake...... Y Central RR... N Y Chicago & StL NYChi&StLpf.. % NY N H & Hartford 6 NYNHG& Hart pf. W N Y Railways pf.. 64 N Y Shipbuilding. 70 NY Steam pf (6).. 90 NY Steam 18t (7).. 30% Noranda Mines (h2) % Norfolk South'n (k) 158 Norfolk & W (110). 2 North Am Aviation. 15% 9 North Am Co (1) 49% 35 North Am Co pf. 217 13w Northern Pacific 381 35% Northwest Tel ( —— 9% Ohio Ofl (al5c)..... 1% Olfver Farm Equip. 26% 15% Oliver FEprpf A.. 171 113 Otis Elevator (60c) 121% 106 Otis Elev pf (6).... 7% 4% Otis Steel 93 80 Owens-Ill _— 1 Pacific Coast 2d.... 1008 13% PacificG& E (134). 25 19 PacificLtg (2.40).. 5 12% Pacific Mills (h50¢) 1 70 Pacific Tel & Tel (6) 180s 7 Pac W'nOil (h40c). 1 314 Packard Motor.... 37 615 Panhandle P& Rpt 30s 21 Par-Public ctfs (k) 24 Park Utah. 13 Pathe Exch 81 Pathe Exchan; 8% Patino Mines 57% Penney (J C)(2 2% Penn Coal & Coke. . 3 Penn Dixie Cement. 17% Penn RR (1) ...... 17% Peoples Gas Chi... 91 Pere Marquette. 14% Pet Milk (1).. T4 Petrol Corp (h50c). 12% Phelps Dodge a2c. 23 PhilaCo 6% pf (3). 3815 Phila Co pf (6) new 1% Pkila & Read C& 1. 854 Philip Morris (1)... 5% Phillips-Jones C... 13% Phillips Petrol u). % Pierce Oll...... % Pierce Petroleum. . 81 Pillsbury Flour 1.60 51 Pitts Screw & Bolt.. 2214 Pitts Steel pf. 1% Pitts United Corp. .. 64 Plymouth Oil (1)... 64 Poor & Co (B).. 1% Porto R Am Tob A.. 6 Postal Tel & Ca pf. 8 Pressed Steel C (k) 614 Pressed Sti C pf (k) 42% Proc & Gamb (1%). 120 115 Proc & Gam pf (5). 20% Pub Sve N J (2.80). 62% Pub Sve NJ pf (5). 73 PubSve NJ pf (6). 851% Pub Sve NJ pf (7). 99 Pub Svs E&G pf(5). 3¢ Pullman Inc (3)... 5% Pure Oil... 49% Pure Oil pf. 8% Purity Bakerie: 4 Radio Corporation. 50 RadioCorppfA3is 36% Radio Corp pf B... 1% Radio-Keith-Or (k) 4% R R Sec 111 Cent. .. 16 Raybestos-Man (1) 29% Reading (2)....... 36 Reading 1st pf (2). 3% Real Silk Hosiery.. 8 Remington-Rand.. 71% Remington-R 1st pf 13 Revere Copper (A) . 17% Reynolds Metals(1) 12% Reynolds Spr (40c) 43 Reynolds Tob B (3) 5% Ritter Dental...... 21% Roan Antelope Ltd. 29% Roy’l D h1.85 3-10c. 5% 8 Rutland RRpf.... 46 37 Safeway Stores (3) 110% 104% Sa: ay Strs pf (6) 114 110 Safeway Strspf (7) 17% 10% St Joseph Ld (40c). 2 1 StL-SanFran (k).. 2% 1 StL-SanFrpf (k). l 28% 22 Schenley Distillers. CHICAGO LIVE STOCK. ght and cholce, 0 pour n‘lv light weight, 160-200 pounds, 9.00a weight, 200-350 pounds. 9.20: 250a: ds, 9.00: v Jus all buying interests anxious e Sattle ahdmarkes generally steads zgth nnu- of value to sell at 11.50 down early top weighty steers. 15.25; some held higher: all other classes gener- teady with lower grade cows and Reiters firm: bulls slow: stocker and feed- ers active. strong to 25 up. Slaughter cat- tle and’vealers: Steers good and cholce, 850-400 pounds: 10.2881350; 900-1.100 15‘ 5"01 aoo 4 bno”msu ety d R -1, N Pmmor edium. sort 508 good and fi"‘;mfl" Dividend Rate. Add 00. High. 21% 3 109 09 17% 23% 6 31% 40% sm 9% 53 15% 6 218, 1734 R 15% 5t 9 3 9 73 9015 3978 8 39% 208 110% 110% 108 1121 11214 B lf’,fi 16% 1% 15 24% 24 alow, Net. Prev. Low. Olose. Chge. Bllh 1% 1081 108 17 23% 30% 3984 106% 34 21% 1 16'% 39% 32 10% 10% 43% 112 6% 35 11% 21% 36% % 9 % 16% 4% 121% 5 90% 2% 19 2814 13 92 82, 3% 10% 3l 4 10 39 l‘h bylls (vearlings 0; cutter, 8750, vealers. good an medium, Best fie)d higher shown _calf Swes, 4.86a5.00, sheep and Spring lambs, &ood cholce, . 8.0080.40; ~ medium. l-mgm gg pounds. NEW 21% — W 108% + FE OFES FEEF 11115 107% Sol Am Inv pf(5%). 20 Sou Porto R Sug (2) 132 Sou Porto R S pf (8] 10% South Cal Ed (1%). 3 Southern Dairies A. 12% Southern Pacific..u T5% Southern Railway.. 10 Southern Rwy pf... 5 Spalding (AG).. Spalding (AG)1st pt 28 142 16 3% 19% 16% 20% T4 58 FOFFEFEEFF LI +++ 1+ ++1 0 1% | 10014 The 363, L) I1+++++ + G ted & 1% |4 ERE i 288 SEEP & - Fl++0 10+ #0141+ FFEEEFE §F FIiEEE 21'% 4% 33 53% 823 42 25% 56 2y W deciara 9% In & stock. stock divident 24% + n stocl 1035 Low. 8 20% S 31 mvmnu Rate. Adfl oo 'mm. Schulte R Strs pf.. 60, 56 Scon Paper (1.70).. and Low. Close. OB" 10% 10 66 oard Alr L (k). d Oil Del (11). Sears Roeb’k (75¢). 1% Second Nat Invest.. % Servel Inc..... 9 Sharon Steel Hoop.. 3% Sharp & Dohme.... 44% Sharp & D pf (3%). 7% Shattuck (F G) 203 Shell Trading h 5% Shell Union Ofl. 63'4 Shell Union Of pf.. 8% Silver King C (40¢) 10% 18‘1 Socony-Vae (60¢).. 42 10 27% 2T% 2T% 20s 142 142 4 15% 15% 5 1674 103 14 6 208 5 17% 1% 591% Spang Chalf pf (j1) 3% Sparks-Withington. 3%, Spear & Co... 32 Spencr Kellogg 1.60 T4 Sperry Corp (?5¢).. 81 Spicer Mfg.... ' 43% Spiegel-May-Stern. 13% Stand Brands (1).. 2% Stand Com Tobaceo 1% Stand Gas & Elec. .. 6 StandG&E §7pt. 1'% Stand Inv Corp. 27% Stand Oil of Cal (1) 23 Stand Oil of Ind (1) 35% 121 58% 14 Stand OII NJ(11%)x Starrett (L 8) a25¢. Sterling Prod (3.80) Sterling Secur (A). Stewart-Warner. Stone & Webster. .. Studebaker (new).. % Sun Ol pf (6)..... Superheater (50¢).. Superior Ofl. . Superior Steel K Sweets Coof Am. Y 87 Symington (k 7% Telautogr: iy 23, 11815 1181 1 M 2% 2% W 3 % h (80¢) 4 Tennessee Corp 16'% Texas Corp (1).. 28% Texas Gulf Sul (2). 14 Texas & Pac RR... 3% Tex Pae Coal & Ol. 813 Tex Pac Land Trust 13% Thatcher Mfg(a25e, 215 Thermoid Co. 51 Thomp'n(JR)(50¢). 13% Thompson Products 1% Thompson Starrett. 7% Tide Wat Asso Oil.. 84 Tide Wat A O pf(6) 105% 100 Tide Wat Ofl pf (5). 4% Timken-Detroit. ... 28% Timken R B (11%). 7% Trans & West'n Air 4’ Transamerica (25¢) 5% Transue & Williams 108, 105 104% 104% — 5% 6 35% 35% + 10 10 5' 5 1% Tri-Contl Corp. 4% Truax-Tra Coal 314 Truscon Steel 18 53% Und-Ell- Un Carb&C 1.60.. Un Oil of Cal (1)... Un Pacific (6)...... Un Pacific pf (4). Un Tank Car (1.20 Twin City R T pf. her (2). +1% +2 + 8 + 4 United Aircraft United Air L vte. Un!l.d Bise (1.60). ited Carbon 2.40. United Drug... United Dyewood. 31 United Dyew pf (-) lSOn United Elee Coal. United Fruit (2 United Gas Imp (1) s 18 United Gas 1 pf (5). 2 United Pce DW.... United Pcs D W pf. 42 U 8 Distributing pf 144 6 23 4% US & For'n Secur.. 11 U S Freight (1) 403 U S Gypsum (1). 143 U S Gypsum pf (7). 130 5 354 U S Ind Alcohol (2) T 53 4% U 19% U 3 U 9% U 244 95 S J8 s s U S Leather (A)... U S Leather prpf.. Pipe & F (50c). P&F 1st pf 1.20 Realty & Imp Rubber.. U S Rubber 1st p: USSmelt&R (16). 624 USSm&R pf (3%3) 2713 U S Steel 73% U S Steel pf (2) 119% U S Tobacco (173%) 313 United Stores (A).. 46 United Stores pf... 51 Univ Leaf Tob (2).: 1% Univ Pipe & Rad. 12 Univ Pipe & Rad 1 UtilPwré&Lt(A).. 13 Vadsco Sales Corp.. 11% Vanadium Corp.. 11% Van Raalte. = 91 24 Vi 18 Vi Van Raalte 15t p£ 7 x !0- 34 Vick Chem (12.40). x 6 -Car Chemical... 1 -Car Chem 6% pf 72'3 Va E1 & Pw pf (6).. 6313 Vulcan Detin (a4). 13 40s 208 1 Wabash (k) 1 1% Wabash pf (A 41a Waldorf Sys (h20c) 27% Walgreen Co (1.20) 1% Walworth Co...... 2813 Ward Baking pf (2) 21, Warner Bros Pic... 144 Warner Bros Pic pf 213 Warren Bros...... 1 7 4 1 % s 20: 8 301 WessonO & S t1%. 1 397% West Pa Elec pf (7) 1008 95 West Pa Pw pf (6). 5% Western Maryland. 108 110% 8 2% Western Pacific pf. 20% Western Union.... 18 Westingh's 32% Westingh' B 50¢ Clec. . 90 Westh'se 1st pf 3% 10 Weston Elec Inst. . 16% Westvaco Chi (40¢) 14% Wheeling Steel. ... 4613 Wheel Stl pf (350¢) 6% White Motor...... 1 Wilcox Oil & Gas. . 3% Wilson & Coal2%e 58 Wilson & Co pf (6. 51 Woolworth (2.40) 11% Worthington Pump 25% Worth Pump pf A.. 2! 20 Worth Pump pf B 35% Wright Aero....... 170s T3% Wrigley W jr(13%) 2 4% 2% Yellow Truck.. 31% Yeliow Truck pf 18 Young Sp& W 11% 384 Youngstwn S&T pf. 1% Zenith Radio... 1 3 Zonite Products.... Approximate Sales of Stocks on the N. Y. Stock Exchange. 11:00 AM... 1:00 P.M...... ., 710,000 2:00 P.M... 1 8% « 260,000 12:00 Noon 510,000 Total sales for the day. 1,050,000 tions Plylhle In casn or s Pius 4% in st Dividend rates cash payments b $ Uit of trading less than 100 aid lasi ! Il; ’l‘:-'fl vidend iVen In the above table are the annusl S0 “the” Iatest quarterly or Ball-yearly shares 1Partly ext r— muln rate b Payable in e 840 "'x Plus 81 In epecial preierred 3y Accumuiated k - gr being reor- year mpanies reper uuma n} recelvenm in cull and 5.0087.50; Stocker common and medium. woo good xcluded). good (beef). 6.50 common aid medium, 5308 d_choice. and common. feeder 00d and choice. 500a1.050 pounds, 5.1 cattle: Sheep. 12,000 ht lnmbs lnd sm'mn weak to 25 shee) ;trnnl to 25 higher: iy good ctive, llmbl. 8 5o choice quality at out- 8, 8.00a25 on clipped offerings, ling, 8.00. 1f_yearling Bh“hu& 7.00a8. and 90-150 pounds, & ll.I ‘weights, May nearby. 50 &5;" uture: d grmi 15. and common FEE W s aototio ‘et st ok B:00; " export, B.OBaS.ID. U. S. TREASURY POSITION. By the Associated Press. The position of the Treasury on May Receipts. $26.029.628: expendi- N .305. Mfl balance. $1.6: 61,- ;. customs receipts for the month. !l ,566.007 Receints | “for othe _flascal year (since July 1220808077 expenditures, 36.° 232.109.989 (mcludml $3.102.905.675 e e8) o excess “of ex- 7.41 o ] srevious ass goid. asscts. $5.- Reeeipts for May 12. 1934 (comparabl date last vear) $4.240.151; expenditure $10.766.808: 4. ustoms m:elvu !nr xg momh. ;5 7 SR Ao eceipts for the 5; expenditures. % 3,398 585, 7 ( emergency ;1!- clud| 7 penditures): excess ol G ndnuren 487 ross debt. 03.031. YORK. May 1 l!!ldy 'raop!r eenl dl!A Prime i'f:ir. %*u?’mz. baukers M nflmmnh.l (#).—Call money ogLime loans 2 llWl lll\fi 111% + % 99% 100 :. 4| U + % -1l clu FINANCIAL 2| ATSTEADY LEVELS Ralls and Some Specialties Help Push Market Slightly Higher. What Stocks Did. Advances Declines Unchanged .11 Total issues ........... 767 786 BY VICTOR EUBANK, Associated Press Pinancial Writer. NEW YORK, May 15.—The stock market was able to push a little higher today with the help of rails and se- lected specialties. There were isolated firm spots in other divisions, but the main body of shares were cautious and did not venture far from levels of the preceding day. The closing tone was steady. Sales approximated 1,075,000 shares. Leading commodities were fairly well balanced. Cotton gained 35 cents a vbale or more, but slipped back a trifie under realizing, and wheat ended steady, unchanged to !, cent a bushel higher. Corn and oats were | quiet. Utility bonds were backward, but other sections of the listed mar- ket, including United States Govern- ments, were mostly higher. Foreign ex;};‘znges :Pre steady. er a breezy start. stocks sli a little about the end of the first rfr?:rd but rail shares came forward to im- part new vigor and were encouraged | by metals, oils and a sizable number of specialities. Kev industrials were the main drawback, but enough sup- port appeared to hold most of them | close to Tuesday's closing levels. Advances of 1 to 2 points were shown in American Telephone, Union Pacific, Cerro de Pasco, American Smelting, Baldwin Locomotive prefer- | red, Columbian Carbon. Columbia Pic- tures, Armour of Illinois prior prefer- red and Royal Dutch. Allied Chem- ical got up around 3 to a new 1935 ‘hxgh Standard trading favorites which were unable to display any great amount of enthusiasm included du Pont, General Motors, Chrysler, S. Steel, Bethlehem, Howe Sound |and Loew’s. Standard Oil of New Jersey, selling ex-dividend of 50 cents, advanced around !; point and most lo{ the other oil shares were a trifle | higher. Metals were helped by the 1 «-cent-an-ounce advance in bar sil- | ver to 767 cents. DIVIDEND IS REDUCED BY NATIONAL BISCUIT | By the Associated Press | NEW YORK, May 15—National Biscuit Co. has declared a quarterly | dividend of 40 cents on the common stock, payable July 15 to stock of record June 14. The company had paid 50 cents quarterly since July, 1934, and prior to that time the rate was 70 cents quarterly. FREIGHT LOADINGS. NEW YORK. May 15 (P —! y freight car loadings on railroa :R::p:rfi N8 epdey for week ended May 11 in- v 11 Prw 23Tk TaatTy 300 18888 tral k Cen| T NorfonS ' We BELGIUM TO CUT RATE. BRUSSELS. May 15 (».—Th | pank_rate will be reduced Trom 25 03 er cent, effective LOMOIrow. - per cent c rrow. it was an: Stock and Bond Register On Request JAMES M. JOHNSTON & CO. 910 Southern Bldg. ENTERPRISE BUILDING ASSOCIATION 7th St. and Ind. Ave. N.W. LOANS Made on Improved District of Columbia Real Estate Security Monthly payments as low as $7.50 per $1,000 Quotations and market ap- praisals on all real estate issues local to Washington. C. B. Pennebaker Company, Inc. Southern Blds. ‘Washington, D. C. National 2311 National 2312 National 2313 “Dealers in Unlisted Securities Spectalizing in Real Estate Mortgage Bonds” Have Your Drinking Water COOLED Boitle and " pres- FOR SALE OR RENT ELECTRIC WATER COOLERS Washington Electric Cooler Company 9 L ST. NE NA. 6729 EDGAR MORRIS SALES COMPANY Digeri NW. NA. 103