Evening Star Newspaper, June 15, 1935, Page 14

A_14 » BANKERS 70 KEEP SERVICE CHARGES State Groups Find System Works Well and Expect It to Spread. BY EDWARD C. STONE. ‘That the service charges adopted by & great many banks all over the United States are here to stay, are working well, are being constantly perfected and will continue to include more and more banks, are among the conclusions presented at annual meetings of vari- ous State bankers’ conventions. In discussing every angle of the banking business, especially the problem of management, the service charge has come in for a good deal of special at- tention. One of the most complete and inter- esting reports was prezented at the annual convention of the Kansas Bankers' Association, at Topeka, by E. 8. Woosley of Louisville, Ky. He presented the results of a “clinic” on the subject, which is of special interest to this city, where the measured service charge has been in operation for a long | He said in part: | time in all the banks. “Not a single bank regretted the in- stallation of service charges. “Accounts lost were typified by the bank which lost 200 accounts amount- ing to a total of $1,000. “It was found that the average an- nual income from such charges ranged from $4,000 to $6,000 per million dol- lars of checking accounts. “In some instances the service charge income is running up to $12,000 per million. “Hundreds of banks are paying their dividends from service charg: Deposits Have Increased. “In every instance deposits have in- creazed. “We have found some large busi- nesses declining to keep deposits in banks where there is no system of service charges. They say it indi- cates bad management. “It was found that large active ac- counts sometimes pay 50 per cent of the charges collected. In our bank we found accounts with ledger bal- ances of $£100,000 and over showing losses running up to $200 per month. “It was found thai the measured charge is the most acceptable ana the onlv fair and scientific charge “In practically every bank, charges were installed with little or no addi- tional expense. “We were convinced that the whole gervice charge program is in a process of evolution. The job is not done with the installation of such a program. We finally came to the point where such charges will be standard and | based on factual cost findings.” Large Capital Advocated. Towa bankers were told by D. W. Bates, Ohio superintendent of bank- ing, that no new hanks would be allowed in his State with less than $25.000 capital. He also said {urther reductions in interest on savings ac- counts would be necessary until bank earnings improve. The Iowa association urged an ex- tension of time by the Reconstruction Finance Corp. for the retirement of preferred stock. Reduction of interest to 2'5 per cent was also urged. Indiana bankers renewed allegiance to the dual systen of banking and passed a resolution opposing nolitical control of banking as feared by sug- gested changes in the Federal Reserve System. Barkers in Ohio were asked by Pres- {dent Wellman to forsake their former aloofness on puslic questions and speak out loudly cn all matters per- taining to finance. Low interest rates have been de- plored in many of the resolurions. ‘While the Government has saved very large sums by .efinancing at lower rates the investor has been foiced to switch to lower and lower yields, to his great disadvaniage, the resolutions state. While scores of other opinions and resolutions might be cited, these show general conclusions regarding some of the biggest problems in the barking world. Mortgage Firm Pays Dividend. Directors of the Real Estate Mort- gage & Guaranty Corp. have declared a dividend of 2 per cent on the out- standing preferred stock, payable June 30 to stockholders of record June 20. The company’s preferred stock is listed on the Washington Stock Exchange, the last sale being made at 4, the market closing yester- day with 3% bid and 41; asked. Thomas P. Morgan, Washington agent of the Mutual Life Insurance Co. of New York, recently received word from the home office regarding what is said to be the oldest mutual life policy issued by any company in the United States. It was issued on May 1, 1855; on the life of Henry Bull, and had been in existence 80 years on May 1. The insured now lives in New Jersey, was 11 years old when the policy was written and is now well toward 92 years of age. Several Washington banks reported today that they had received a good many requests from holders of First Liberty Loan bonds, which are being redeemed today by the Treasury, that the collections be made for them by the bank officials. Many patrons said they had entirely forgotten that the First Liberties had been called and would have lost considerable interest if the matter had not been called to their attention, e MOODY’S INDEX SHOWS RISING TRADE TREND By the Assoclated Press. NEW YORK, June 15.—Statistics @ppearing during the last week indi- cated a rising business tendency, ac- cording to Moody’s index figures for freight car loadings, electric power production, and steel ingot output. These index figures are adjusted for seasonal variation—that is, if the change from the previous week should coincide with the normal seasonal change, the index figure would be un- changed. (1028 weekly average—100.) (Copyright. 1935. by Mcody's.) OIL DELIVERIES GAIN. NEW YORK, June 15 (#)—Crude oll deliveries of the nine pipe lines formerly in the Standard Oil Eastern group during the first five months of the year totaled 38, ”2‘60:: bl]:nol:.m daily average of 256,1 rrel - md‘vmh ug!m 000, or a daily aver- age of 240,592, in the same period & year ago. GIVEN EXCHANGE POST. NEW YORK, June 15 (#).—Dean K. Worcester was formally appointed executive vice president of the New York Stock Exchange by the Gov- erning Committee of the Exchange. He is 36 and has been assistant sec- retary of the Exchange since 1928. - 114 55 TH 331 11% 9 140 20% l'/- 154N e 738 22'4 2 35 2% 1% 20% 60 14 4 1818 105%5 101 54 5% 15 T 68% 8% 23 103% 113 ll?% 15% 4% FINANCIAL. By private wire amn u The Star, Stock and Dividend Rate.. " Abrm Strauss (11). 1008 3bi 110 Abr & Strauss pt(7) 52 Acme Steel (12)..5. 44 Adams Exp; . 28 Adams Millis (2) 8 Addressog'ph alSc. 415 Advance Rumley. .. 104% Air Reduction (13). 16% Alaska Jun (*§0¢). % Allez Corp (k). 21 Allegheny Stl ( 1256 Allted Chem (6)... 3% Allied Stores. , 55 Allied Stores pf (13 12 Allis-Chalmers.... 14 Alpha Port Cmt (1) 4815 Amerada Corp (2)., 415 Am Ag Cem Del(2). 13% Am Bank Note..... 21 Am Br Shoe (1)..., 110 AmCan (14). 10 Am Car & Foundry. 25'5 Am Car & Found pf. 66 Am Chicle (13).. 22'% Am Comel Alcohol. 615 Am Crystal Sugar. 4 57% Am Crystal S pf a3. % Am Encaustie. 2% Am European Sec. . 2 Am & Foreign Pwr. 14 Am & For Pw pf (1) 3% Am & For Pw 2d pt 291 Am Home Pr (2.40). 813 Am Ice. . 4'3 Am International. ., 9 Am Locomotive.... 32 Am Locomotive pf. 18% Am Mch & Fy (80¢) 4% Am Mach & Metals. 1313 Am Meta 72 Am Metals pf. e 1'4 Am Power & Light. 8% Am Pwr & Lt §5 pf. 104 Am Pwr & Lt $6 pf., 10% Am Radiator. ... 158 66 41y Am Rolling Mills. . Am Safety Raz (5). Am Seating. . Am Shipbldg (2)... Am Smelt & Ref.. .. Am S&M 1% pf (7). Am Snuff (13)...., Am Steel Foundry.. Am Sum Tob (1)... Am Tel & Tel (9) 72'3 Am Tobacco (5).. . 74% Am Tobacco B (5) .. Tix Am Wat Wks (80c). 4’ Am Woolen. . Am Woolen pf. & Anaconda Copper 16% Anaconda Wire 1215 Anchor Cap (60¢) 314 Armour of Iilinofs. . 13 Armour 111 pr pf ( 4 Arnold Constabl T'3 As=o Dry Goods . 85% Atch To&S F (b2).. 66% Atch To&S F pf (5) 1913 Atlantic Coast Line 21% Atlantic Ref (1) 15 Auburn Auto. 20 1% 63 12 1815 9874 3 Aviation Corp Del. . 1'; Baldwin Loco (k) .. T'a Baldwin Loco pf (k) T3 Baitimore & Ohlo. . 915 Baltimore & Ohlo pt 36'x Bang & Aroos (213) '« Barker Brothers. % Barnsdall Corp.. 713 Bayuk Cigar ( '« Beatrice Cre ( 2 Beech-Nut P (i3).. 11'x Belding-Hem(as0e) 117 Bendix Aviation... 151 Beneficial Loan 1% 21% Bethlehem Fteel... 554 Bethlehem Stl pf... 144, Bigelow-San Corp.. Blaw-Knox... 28 Blumenthal pf. 6la Boeing Afrplane... 49% Bohn Alum&Br (3). 90 Bon Ami (A)(14).. 21 Borden Co (1.60)... 281, Borg Warner (1%). 3% Boston & Malne. ... 814 Bridgep't Brass 40¢ 24’5 Briggs MIg (2).. 30% Bristol-Myers (12)s 36'3 Bklyn-Man 4'r (3).. 43 Bklyn Union Gas(5) 53 Brown Shoe (3).... 4 Brunswick-Balke 8is Bucyrus Eriecv pf, 3% Budd (EG) Mfg... 23 8'4 Bullard Co % Burns Bros 3 Burns Brospf..... 13% Burr Add M (60c).. 1t» Butte Copper & Zine % Butterick (kK)...... 11% Byers (A M). 32 Byers (A M) of 1 Callahan Zine 21, Calumet & Hecia 713 Campbell-Wy (a20e) 8%, Can Dry G A (40c). 9% Canadian Padific... 4% Capital Admin (A). 45% Case (J 1) Co... 3613 Caterpillar Tr(f1).. 913 Celanese Corp 174 Celotex Co (K)..... 1% Celotex Co vtc (k). 11% Celotex Co pf (k).. 22% Cent Aguire (1%).. 34 Central RRofNJ. 8% Cerro de Pasco (2). ii% Certain-Teed Prod.. 23 Certain-teed P of 37% Ches & Ohio (2.80). 36 Chesapeake Corp(3) 1% Chi Gt Westn pf(k) 34 Chi MIlISt P& P. 2, Chi Mil St P& P pf. 2% Chi & Northwest. ., 4% Chi & Northwest nf 4% Chi Pneumatic Tool 20 Cht Pneu Tool pf... 1 ChiRI&P(k 251 Chickasha C O (2). 31 Chrysler Corp (11). 20 City lce & Fuel 87 City lce&Fpf 6 15% Colgate-P-P (50¢).. Colgate-P-P pf (6). 9 Collins & Alkman. . 69% Collins & Aik pf (7) 13 Colo Fuel&iron (k) 7 Colo & South 1st pf. 3% Col Gas & Elec.. ... 13 Col G& Epf A (6). 13 Colum Pie vte (11) Colum Carbon (4) 3913 Comcl Credit (2)... 564 Comel Inv Tr (12).. 178 Comel Solv (160c).. % Comw & Southern., 29% Comw & Sou pf (3)+ 27 Congoleum-N (1.60) 23% Conn Ry & Lt (4%) 3% Consol Film....... 14Y% Cons Film pf ($1%) 16% Consol Gas N ¥ (1). 114 Consol Laundrie: 61 Consol Oll. . 1 Consol Textile 8% Container Corp (A) 413 Contl Baking (A).wm % Contl Baking (B)... 62% Contl Can (2.40)... 28% Contl Ins (11.20)..s % Cont| Motors. 15% Contl O Del a12%e. 41% Corn Ex BK&TT (3) 62 Corn Prod Ref (3). 35% Cream of Wh (12).. 121% Crosley Rad (a25¢) 23% Crown C&S (1)... 4315 Crown C&S pf(2.70) 14 Crucible Steel 58 Cuban-Am Sugar... 40% Cuban-Am Sug pf.. 40 Cudahy Pkg (2%).. 893 Curtis Pub pf (7). Wright.... Wright (A) 16 Cutler Hammer ... 6 Davega Strs (a20c). 22% Deere & Co. ¢ 19 Deere&Co pf (340c). 23% Delaware & Hudson Del Lack & Wes 1% Den& RG W pf...s 65 Detroit Edison (4). 36 Devoe& R.. A (t1). 2614 Diamond Mat (11). 34% Dome Mines (12) 6% Dominion Strs(1.20 17% Douglas Alreraft. . 13% Dresser M A (b1%4) 86% Du Pont de N (2.60) 104 Duquesne Lt 1st (5) uov. Kastman Kod () ... 16% Eaton Mg (1)..... 19% Blectric Auto Lite. 3% Electric Boat...... 6 Elec & Mus .nd 1% Elec Pwr & Light. . 2% Elec Pwr&Lt $6 pf. 3 Elec Pwr&Lt §7 pf., 39 Elec Stor Bat (3K). - i Budd (E G) Mfg pf. 7 108 112% 112‘6 112% 54% b 581y 58 4% 13% 4% 30t 4y 1419 . 3% 1674 2 bl 15% wERmpean e poN S L TSTE 'S " P HONDNOE —nn-wnngqquuwsu—mm S " » e I ITST-TE T 4 And A 00. High. l‘.a' mn- Cuse. 20% 20% 20% 30 103% 102% 102% 30s112° 112 112 4% 4% 5 148% 148 19% 20% 148 19% Net. # 1935 1934 1934 1032 1929 1927 low (*) New 1935 hlzh EFFERFEEF F F OFEPS Prev. 1935 High. Low. _ Dividend Rate.. 664 52% Endicott-John (3).. 3% 1% Engineers Pub Sve. 26% 14 Eng Pub Sve 35 pf. 27 14! Eng P S $5.60 f ww 29% 15% Eng Pub Sve §6 Df 14 T Erle R R. 17% 84 Erie RR 18t pf... 13 6% Erie R R 2d pf. . 12% 10% Eureka Var C) 23% 15 EvansProd ( 5 2 Exchange Buffet... +4t+ e+ 2% 9 25% 20% 5% 18% 56 % Fairhanks Co... 4 Fairbanks Co pr 17 Fairbanks-Mo 2813 Fid Ph F In (11.20). 13% Firestone (40c).... 45% First Nat Strs(2%) 214 Follansbee Bros (k) 9% Foster-Wheeler 2% Foundation Co. 8% Fox Film (A). 4% Fuller Co 24 pf. 6% 17 10t 16% 12 81 384 194 9 % 63y 265 4+l 4+ REsgFEEEE gFaE ] rs 5% Gen Am Investors 32% Gen Am Trans(1%) 11% Gen Asphalt. . 7% Gen Baking (60¢). 5% Gen Bronze. 50 Gen Cigar (14) 2014 Gen Electric (60¢).. 3% Gen Foods (1.80) . 344 26% Gen Motors (1). 11715 107'5 Gen Motors pf (5).. 30 17% Gen Print Ink 1.60.. 30 15% Gen Ry Signal (1).. 2 % Gen Realty & Util. 16% Gen Refractories. 16} Gen Refrac ctfs. 14 Gen Stl Casting pt. 12 Gllett Saf Raz (1). 701 Gillett Stf R nf (5). 23% Glidden Co (f1). 14 Gold Dust (1.20) 715 Goodrich (B F). 15% Goodyear T & R 20 Gotham Silk H pf.. 1'3 Graham-PRige..... 5'¢ Granby Consol. 214 Grand Union.. 14% Grand Union pf 134, 26 Grant (W T) (11).. 9% Creat Northern pf. 26% Grt West Sug (2.40) 1 Guantanamo Sugar. 19 Guantanamo Sug nf 6 Gulf Mobile & N pf. +4 =5 | ++++44+ Fr 21 32 168 8715 30% 1% 1% 267 50 3 8% L4t ERESE 1+ ++1++ 3 RPEES 9+ 1 Hackensack W (1% Hack W pf A (1%). Hamilton Watch pf Harb Walker (1)... Hat C pf ww (6%3). Havana Elec Ry... Hazel Atias GI (5) Hercules Mot (60c) Hereules Pw (13).. Hercules P pf (1) 34 Herahey Choe (3) 1141 104 Hershey C pf (14).. 9% 5% Holland Furnace. .. 11 6% Holland & Son (50c) 40% 307 Houd-Hersh A 2., 15t 6'3 Houdaille-Hersh B. 56 43 Howe Sound (3) 12% 6% Hudson Motor Ca 3% % Hupp Motors. —_— 17 914 lilinots Centra 23% 15 lllinois Central pf.. 40 11l Cent Ise lines(4) 2313 Indus Rayon (1.68) 6015 Ingersoll-Rand (2). 46% Inland Steel (2).... 213 Inspiration Copper. 149% Int Bus Mach (16).. 3% Int Carriers Ltd 20e 2273 Int Cement (1).... 341 Int Harvester (60c) 22% Int Nick Can (§0¢). 424 Int Shoe (2).. 6014 Int Silver pf (4) 5% Int Tel & Tel. . 614 Intertype (a20c). 30 EFeryrey 4:4+1+4+|+|H|+|nu4«| R R 59 49 Jewel Tea (3 57% 381% Johns-Manv (a25¢) 73 50 Jones&Laugh 1%pt _— 3% Kans City Southern 6% Kans City South pf. 712 Kaurm'n D S(asve) % Kelly-Spring T (k). 6 Kelsey-Hayes (A). 3% Kelsey-Hayes (B). 12% Kelvinator (150¢).. 13% Kennecott C (60¢). 19% Kresge (SS)(1)... 103 Kresgze (S S) pf (1) 2214 Kroger Gr&Bk 1.60. 12 Laclede GasSt L... 24 Lambert Co (3) 814 Lee Rub&Tire (50c) 1% Lehigh Valley Coal. 5 Lehigh Valley R R, 6714 Lehman C (12.40).. 21% Lib-O-Ford Gl 1.20. 21 Life Saver (1.60).. 93% Ligg & Myers B(14) 164 Lily Tulip Cup(1%) 131 Lima Locomotive. .. 17% Link Belt (80c) . 317 24'3 Liquid Carb (t1). 42% 31% Loew's Ine (2).. 108'5 102 Loew's Inc pf (6%). 13 1 LoftInc...... 38 33 Loose-Wiles (2) 130 126 Loose-Wiles pf (7). 22 181 Lorillard P (11.20) 15 Louisiana Oil. 47's 34 Louisv & Nashv 18% 12% Ludium Steel. _— 35 28 MecCall Corp (2).. 15 T McCrory Strs A (k) 45% 36% Mcintyre Porcu (2) 116% 90 McKeesport T P (4} 8% 57 McKesson & Rob. 15% 8! McLellan Stores 28% 18% Mack Truck (1). 30 Macy (R H)& Co(2) 18% Magma Copper (2). % Mallison & Co.... % Manati Sugar (k).. 4 Manat! Sugar pf (k) 29 Man Elev gtd (k). 13% Man Elev m g (K)... 4% Marancha Corp... 5% Marine Midld (40¢) 20 Marlin-Rockwell(2) 35% May Dept Str (1.60) 84'5 Maytag 1st pf (6 41 Melville Shoe (12). 20% Mengel Copf...... 24'» Mesta Mach (1%) 24 Miami Copper. 9% Mid-Cont Pet 8% Midland Steel Prod 601 Midl'd Stl 1st pf(8). 58 Minn Hon R (13). 3% Minn Moline Pow. .. 81 Minn Moline Pow pf % M St P& S S Marie. 1% MStP&SSMisin Frasss seEseess § 28 24% 28 14+ ++4+++ Err 5y Fr ¥ + 4+ 4+t & FE OFEFER 1+ +4+ £ et B 10% Mohawk C M.. 55 MonsantoC (1). 21% Montgomery Ward, 567% Morrel & Co (3.60) . % Mother Lode.. T4 Motor Wheel (500). 7 Mullins Mfg.. 367 Mullins Mfg pf. 13% Munsingwear Ine 4% Murray Corp. . 30 Myer(FE)&Co 1.60. P ARttty 11 Nash Motors (1) 14 Nashv Chat&StL. FE FEFEFES 181 Nat Cash Reg A §e 12% Nat Dairy Prod 1.20 {3 A tiachent Stase Sl Dept S 1st pf(k 23% Nat Distillers (2).. 29 21 NatEn&Stpg (2). 162+ 150 Nat Lead pf (T) A.. 138 121% Nat Lead pf (B) (8) 9% 4% Nat Powr & Lt (800 13% +1 % % Nat Ry Mex 2d pf.. Bh+% 50!6 mwlumw . 4% 204 6 + 2% STOCK AVERAGES Compiled by the Associated Press. Steck and Bales— Add 00. High. 64% 2% 26% T4 |+ ® R F FERAE FF +4+ + + e+ ¥ RE ES FEEE FEFE F OFS 308 1008 12 08 " S CITE LTt ey » & w = L+ +1 s NE ARSI BRSO e N~ D e @ " o B | PEFR PFSES FEESF 126% 126'% 21t =3 +10 S 10010+ ++ HORNAAS~aN® man FERIESF 1501 19% — 6% + T% + 30% + 16% + 16% — 22 Bl 29% +1% 158 1584 -3 136 136 —1% I% !lfi +% 10 1n 50% 4"6 IO | £ FEFFEEES FFIFEFF Btock -nl Dividend Rate.. 9 ' Nat Supply Co. 36 Nat Supply Co of. Tl Natomas Co (80c).. 4315 Newberry(J J) 1.60 " Bales— 124 N Y Central RR... 6 hicago & St L % hi & St L pt. ., k pf & H & Hart pf ipbuilding L 2 North Am Aviation 9 North Am Co (1) 18% Northern Pacifie... 9% Ohio Oil (a16c).. 1 Oliver Farm Equip, 13% Oliver FEprpf A.. 11% Otis Elevator (60¢). 4% Otis Steel. . Bl 38 Outlet Co (2) B0 Owens-1ll Glass(4). 13% PacificG& B (1%). 19 Pacific Ltg (2.40). 70 Pacific Tel & Tel 8'4 Packard Motor 2% Par-Public ctfs (k). 2% Park Utah. 14 Pathe Exchang 574 Penney (J C)(2)..u 110 106 Penney (J C)pf(6). 5% 3 Penn Dixie Cement, 26% 17% PennRR (1).. . 333 17% Peoples Gas Chi. 2t'n 13 Pere Marquette pf. 14% Pet Milk (1). 7% Petrol Corp 12% Phelps Dodg 23 Phila Co 6% pt (l).. 35% Philip Morris (1)... 13% Phillips Petrol (1) .. % Plerce Ofl.....covan 51 Pitts Screw & Bolt, 221 Pitts Steel pf... 243 Pitts United C pf 6% Plymouth Ofl...... 4% Postal Tel & Ca pt.. % Pressed Steel C (k) 615 Pressed St C pf (k) 42% Proc & Gamb (1%). 115 Proc & Gam pf (5). 20% Pub Sve NJ (2.40)., 62% Pub Sve N J pf (5). 34 Pullman Inc (3). 5% Pure Oil. 49% Pure Oil Df 8% Purity Bakerles (1) 1 21% U% A% 26% 20% % a1 104 11% 16% 3 17 50% 120% 35% o1y 524 9% o 138 4 Radio Corporation. 35% Radlo Corp pf B.. 1% Radlo-Keith-Or (k) 4% R R Sec 11l Cent.... 1615 Raybestos-Man (1). 33 Reading 2d pf (2).. 7 Remington-Rand... 71% Remington-R 1st pt 2% Reo Motor Ca; 9 Republic Ste 28% Republic Steel pf. . 2 Reynolds Metals(1) 1 Reynolds Spr (40c) 43' Reynolds Tob B (3) 46 36% 1110 1043, zl-. Safeway Stores (3). Safeway Strs pf (6) St Joseph Ld (40c). St L-San Fran (k) .. St L-San Fr pf (k). Schenley Distillers. Scott Paper (1.80).. Seaboard Alr L (k). eab’d O Del (160c) grave Corp. Sears Roeb'k(a75¢) Sec Nat Inv pf $1% Servel Inc Sharon Steel Hoop. Sharp & Dohme.... Sharp & D pf (3%4). Shattuck (F G) 25 Shell Union Ofl.... Silver King C (40¢c) Simmons Co... Simms Petrol (1) Skelly O11 . Sloss-She: Snider Packing.... Socony-Vac (60¢). .. Sou Porto R Sug (2) South Cal Ed (1%). Southern Pacific.. .. Southern Raillway. Southern Rwy pf Spang Chalf pf (12) Sparks- Withington perry Corp (a2ic). Spicer Mg pf (3).. Spiegel-May-Stern. Stand Brands (1).. Stand Gas & Elec 437 13% 1 46 102% 23 328 102 3% 3% 5 5 14% 734 el 105'% 105's 105% 4 4 4 23% Net. | Prev, 1035 Aaaoo.mm la'GlauM High. Low. 16% + % 10 11% b2% 0% + % 1% + % 6 + U 2 + % 147 19% 12% 1% 16% 1874 5% 461y 102% 22% 321y 102 3% 3% Ly [ 14% 2% 22'% 23% +++4 o L (&8 | 14+ 9 FEFFEFE F OFF FEEP F5FE P F P FLR FEEES VRPFSEF FEF FEEE ¥ | extra. FINANCI Btock a; Dividend Rate.. AMDO Hll’h. Ln' Clmm 5% 1% StandG&ES4pf.. 1 4 16 6 StamndG&ES$Tpf.. 1 lm ul- 1% 1% Stand InvCorp..... 20 1% 88% 27% Stand Oil of Cal 17 364% 85"- 27% 23 Stand Oll of Ind (1) 25% 26% 50% 35% Stand OIl N J (11). 49% 48% 16% 12 Starrett (L 8) a2be. 16% 15% 67 58% Sterling Prod (3.80) 634 10% 6% Stewart-Warner... 10% 6% 2% Stone & Webster, % 3 24 Studebaker Corp..s 2% 75% 6015 Sun Oil (11) 5% 121 115% Sun Ofl pf (6) 119 20% 11 Superheater (50c).. 3 1% Superior Ofl.. 9% 5 Superior Steel % % Symington (k). S dmnncial At 23% 16% Texas Corp (1).... 36% 28% Texas Gulf Sul (2). 4% 3% Tex Pac Coal & Oil. 12i5 - 85 Tex Pac Land Trust 19% 13% Thatcher M (a50c). 55% 50 Thatcher M pf (3.60 17% 13% Thompson Products 12 % Tide Wat Asso Oll.. 1025 84 Tide Wat A O pf(§) 105% 100 Tide Wat Ofl pf (s;. 74 4% Timken-Detroit. 87% 28% Timken R B (11)... i 4’ Transamerica (25c) 10 b Transue & Willlams lu 1% Tri-Contl Corp. 315 Truscon Steel 21% 18 TwinCity RT pt —_— 69 53% Und-Ell-Fisher (2), 133 127 Und-Ell-Fish pt (1) 501 29 Union Bag&Pap (2) 62 44 UnCarb&C1.60.... 20% 14% Un Oilof Cal (1)... 111 821 Un Pacific (6).. 88% 79'5 Un Pacific pf (4)... 18 9% United Aircraft. 6% United Air L vte... 2615 United Bisc (1.60).. 603 United Carbon 2.40. 3% United Corp... 3Th United Corp pf (3). 13% 8% United Drug......s 7% 3l United Elec Coal... 923 United Fruit (3). 4% United Gas {mp (1) 103% Unit Gas Imp pf(s). 3313 Unit Piece D W pf.. U S Gypsum (1). U S Hoffman. ...... U S Ind Aleohol (2) U S Leather U S Leather (A)... U S Pipe & F (50c). U S Realty & Imp U S Rubber.. USSmelt & R (a4). USSm&Rpt (3%) U S Steel..... . U S Steel pt (2).... United Stores (A).. Univ Leaf Tob (2).y Util Pwr & Lt (A).. - FEFS-E - ° 5 - aSamnalal peme . - e 213 10215 10": 13 87 10 40'1 5 [PPSR S = N T T 3a'~ 413 Waldorf Sys(b20c) . 26'% Walgreen Co (1.20) 114 Walgreen pf (632). 5 Ward Baking (A).. Warner Bros Pic... Warner Bros Pic pt Warren Fdy&P (2). Wesson O&S(150¢). West Pa Elec (1) A West Pa Elec pt (1) Western Maryland. Western Md 2d pf Western Pacific pf. Western Union.... Westingh'se A B 50¢ Westingh'se Llec. . Weston Elec Inst., White Motor. White R’k M S Wilcox Oil & Ga Wiison & Coalzise Wilson & Co pf (6). Woolworth (2.40).. 11% Worthington Pump 3% Wrigley W jr (13). ta 8 H 63% 823 2% Yellow Truck 18 YoungSp& W (11) & 13 Youngstown S&T. 10 1% Zenith Radlo. 2% Zonite Products. 213 4% | Approximate Sales of Stocks on the N, ! Steck lull-n‘t 11:00 AM....... 290,000 12:00 Noon. Dividend rates as given in tme parments based on the latest qu sUnit of trading less than 100 share; 3 Accumuiated dividends. & Paid Iast year. k Companies reported in ceorcanized. x Ex dividend. this year Teceivership or CHICAGO LIVE STOCK. CHICAGO. June 15 (P —Cattle. 500 100, compared Friday last week: and ' choice . 50875 Yearlings and light steers | ter grade vearlinz heifers showing in. decline; common and medium grade ste ail_weights. finisned very dull, =5 do with some’ sales and general under: 50 off: comparatively few lower grade steers in run. but at times season-record proportion. good and choice offerings shipper demand narrow: beef usgish way generally; prime t but bulk better closed at 1750 down . to extreme top light steers. 12 lnm yearlings, 1700 with few above 11.25 late in week. lower erade heifers weak 10 75 off; cutier cows steady to weak: medium beef cows 25 or more lower. but few good and choice dry fed cows strons: steady and veals lower. Sheep. 2.000: for week ended Friday. 22100 directs: compared Priday week; Spring lambs. 1.00a25 lower lings fully 1.75 off. ased 25 lower. e heavies o, Sprine It . heavies week's top. bulk, & 50a! able’ limit arow Spring lambs. & vearlings. 8.00; bulk. , medium to choice ne load good wooled ¥ iy Thursdas: native ewes. 1.50a3.50. late Ion at_outside. ogs. 4.000. including 3.500 _direct nominally steady. shipers took none: em. mated holdoger 1.000: il quotations are neminals: 10-160 pounds, 00086 200 pounds \ 5.60a16.00: nat “a o s 25 27 0akn ne sows, 08,857 Slaushter pigs. a! | 8%s 195n 45 CHICAGO STOCK MARKET ‘ ICAGO. June 15 () —Following is | the complete official list of transactions in Slocks on the Chicaso Stock Exchange to- Sales. s'rocxs. High, 20 Abbot 1y 100 Allied Prud 100 Armour & 400 Autom Bod® 0 Bendix AV 500 Bors Warner 100 Brn F&W "B 100 Butier BAIOS 9 S CEE YT o - A o o igimion e - DRSO R 2 TN 0 El “Househol 0 Elgin Nat Watch. W L 010000 > b g b G1ain ST G L VAT S e (T 2 P BBt R D - ey - S Dom O L L - BONDS ON THE CURB MARKET. DOMESTIC BONDS. Alabam Pw 4 Alabama Pow Alabama Pow b mer GAE. Amer P & Am Roll L6 Mill s Am Seating 0s s Appaich P Asso Asso d_Lo Bel Tel Can Brmngm E| 4! Canadian Pc el 1 FEDERAL L LAND BANKS ’z NEW YORK. June 15 (¥).—Federal Land Bank Firestone Tire & Florida P\L bs Gary E & G Gatineau Pw Gen Refr ¢ Hous L&P 413 Iaho Power s Lehigh P ux!nuon Ut 5! 52 La P&L 5 Pk o u,-é' Manitoba Pw 5las '51. '55. i 101 00 - 1Qnsb G b | Rep G 65 A 10115 1053 10175 i’ a37e P& L'As A Pub Sve 6 Staley Mfg s " 104 10 481 . | Stand T 1 Switt Co 5s | Texas Elect Tex P&L bs A |Tex P & L Therm tis de W Puw s A 4| Ulen Co 6s '44 st Unit L & P 6is York Rwy 58 : 1037 1033 FOREIGN BONDS. 8 Cauca Valley 7s ‘48 | Euro ed Terni S0 625 A ww—With warrants. nlét'l. n —dNeI. *mpe | - &Nexotiability impaired by tCompanies reported in receivership. BALTIMORE STOCKS Special Dispatch to The Star. BALTIMORE. June 15— Sales. STOCKS. 110 Arundel Corp 100 Atlantic Coast 25 Black Dec xW—w) ithout wi B 21% & 5 10313 102% wi—When issued. st (stp) maturity. High. Low. Close. 21lg s !vrmlfleld (I AL STOCKS REMAIN <! [N NARROW RANGE Firmness of Rails Imparts Fairly Steady Tone to Rest of Market. BY VICTOR EUBANK, Assoclated Press Pinancial Writer. NEW YORK, June 15.—While scat- tered profit taking appeared in to- day's brief stock market session, the general firmness of the rails kept the list in an optimistic mood. For the most part, however, gains were small. The metals were somewhat reaction- ary. The closing tone was fairly steady. Transfers approximated 520, 000 shares. Improvement in the labor situation was helpful to sentiment and busi- ness news was not as cloudy as had been expected in some quarters. The Commerce Department reported gen- eral gains in retail trade throughout the United States, but it was thought favorable weather conditions had much to do with this. Washington developments apparently wers not especially exciting, market-wise. Grains pointed downward under the influence of larger crop expecta- tions. Cotton, on the other hand, was inclined to move forward. Carrier bonds were again in demand, although prices in other loan categories were slightly mixed. Foreign exchanges were quiet. | A number of shares established new highs for the year or longer, and buy- ing of income producers was still in ’0\‘1dpnce. Philip Morris got up 2 points and gains of fractions to a point or so were recorded by Santa Fe, Union Pacific, Illinois Central | American Telephone, Consolidated Gas, American Can, General Electric, U. S. Steel, Chrysler, General Motors, Liquid Carbonic, Wrigley and Mont- gomery Ward. Uncertainty as to the Treasury's future silver buying program was said to have caused some selling in the mining group. U.S. Smelting dropped about 2 points and Cerro De Pasco and American Smelting were off around a point each. Analysts pointed out that much of the recent buying, aside from the in- vestment factor, was the result of rapidly accumulating idle funds, the owners of which, having become tired of doing nothing with them, were will- ing to take a chance on equities with potential earning powers. : DOLLAR GOES HIGHER AFTER SAG AT LONDON | By the Associated Press. LONDON, June 15—The United States dollar opened weaker, but im- proved on a quiet market and closed at 4.94 to the pound, compared to the overnight New York rate of 4.941. The French franc closed at 7493 | unchanged from yesterday's quotation. \PHOENIX SECURITIES ‘t TO CONSIDER DIVIDENDS | By the Associated Press. :| NEW YORK, June 15.—Stockhold- ers of the Phoenix Securities Corp., an | investment trust, will consider at a | special meeting June 27 proposals of 7 the management to liquidate accumu- lated dividends on the $3 convertibie | series “A™ preferred stock, which will total $10 a share by June 30. The ! plan also contemplates placing the | stock on a full regular dividend basis beginning July 1. The holders will be offered $2 in cash and 'x of an addi- | tional share of preferred for each shars held in satisfaction of dividend ar- rears. CHECKS ON INDIVIDUAL BANK ACCOUNTS DROP By the Associated Press. ‘\ The total of checks drawn against individual bank accounts in leading cities last month. as reported to the Federal Reserve Board, maintained a lead over last year, but was lower than in April in keeping with the sea- sonal trend. | Aggregate debits for 141 cities com- pare as follows: May . April May, i | . LAUNDRY FIRM ASKS | EXTENSION ON NOTES NEW YORK. June 15.—A plan for a five-year extension of the Consoli- | dated Laundries Corp.'s convertib) | 6'> per cent 10-vear sinking fund | notes, which will be due on April 15, | 1936, has been submitted by the cor- | poration to the noteholders. Of an . | original issue of $2,500,000 of the notes | there are now outstanding $1,438,500. | GRAY CLOTH TRADE LGS, {| NEW YORK, June 15 (#).—Trading | continues to lag in the gray cloth | market, with prices showing nominal changes. PHILADELPHIA PRODUCE. PHILADELPHIA, June 15 (M.—Live pouitrs. [Flvmouth Rocks. 22 BTRed solory S 1ae1 Dressed poultrs. 19 ing chickens .|NEW YORK BANK STOCKS NEW YORK. June 15 # —New York Security Dealers’ AS&WIIHOH Fowls 24; broil- ‘Western Ao 2Bk of Man (1%)., Bankers Tr (3).. Bkiyn T ) (@) Including extras. INSURANCE STOCKS NEW YORK. June 15 (P.—Security Dealers’ Association: Actna Cas (2za) Aetna Fire (1.6 Aetna Lite (.60). Asricultural (3" Automobile (1) Balt Amer (.10g Boston (16) Carolina _(1.10a) Git: N a a Bl. Pml Pire b 853852380 P33 o 12305 Bw- LIVt =E3325BEB; or unflr E L