Evening Star Newspaper, June 22, 1935, Page 14

FINANCIAL. VIRGINIA BANKERS TR ANSACTIONS ON THE NEW YORK STOCK EXCHAN G E UGS ARE FRM CLOSE CONVENTION 5 & st 8 15 f el R R R ATWEEK'S CLOSE T 86 Bterling Secur cv pt 374 82 Abrm Strauss (f1). 60s 35% 35 854 — & 0% e % 3 6% 6% 6% 38% 28 Adams Millis (3) Many New Highs Recorded E " ® & + PRsEs & uns 4% Adams Express. % - 31 81 11% 8 Addressog’'phalbe.: 11% 11% + % 9 4% Advance Rumley... 8% 8% 8% + % 142% 104% Air Reduction (13) 144 145% +2% 20% 15% Alaska Jun (160c) 1:& I:K e 3315y, 050 $=%3.980 e +4+4+++1 ( l t (7)., Delegates Praise Retiring Chief’s Plea for More % Aggressive Planning. r BY EDWARD C. STONE. The Virginia Bankers' Association concluded one of the best conven- tions in its history at the Homestead at Hot Springs today. It was the forty-second gathering of the kind. As reported in late editions of The Star yesterday, J. Sinclair Brown, president of the Farmers’ National Bank of Salem, Va., was elected presi- dent, succeeding Cmoll Pierce, presi- dent of the Citizens' National Bank of Alexandria. J. B. Day, jr., senior vice president of the National Bank of Commerce Norfolk, was elected vice president; C. W. Beerbower, assistant cashier of the First National Exchange Bank, Roanoke, was again made secretary, and Thomas D. Neal of the firm of Scott & Stringfellow, Richmond, was chosen treasurer, They took office today. Secretary Beerbower, who has served the association many years in this capacity, reported that there are now 391 banks in the association and that the organization is in excellent financial condition. Pierce’s Address Praised. Delegates were loud in their praise 21% 2T% 9 of President Pierce as a presiding officer and of his address covering the past year. He declared that banking should take the offensive and initiate needed reforms rather than have measures forced upon them by those Who are unfriendly. “We have regained much courage and cheerfulness” the Alexandria banker asserted, “and to a large ex- tent we can adjust ourselves and our business to any situation which might arise. But it occurs to me that busi- ness as a whole, including banking, has expressed itself largely in op- position, opposing those things that affect their interests adversely and permitting those outside the fleld and less sympathetic to start needed re- forms. Expressing his opinion that the de- posit guaranty law seems destined to become a permanent law of the land, President Pierce termed the rate of one-eighth of 1 per cent On gross deposits, as favored by the-House of Representatives in the 1935 banking bill, to be “more or less confiscatory for the reason that the earnings of small banks will not justify it,” adding that “this high rate will consume earnings to the extent that sufficient reserves cannot be set up against losses, to justify dividends to stock- holders.” He took the view that “every bank, however well managed, will have losses from time to time, and it is the reserve set up against these losses which indicate good ‘management. If we are to have mandatory assess- ment let us recommend that the rate be made a minimum, say of one-six- teenth of 1 per cent or less,” he stated. Fleming Accorded Ovation. Robert V. Fleming's address was on banking legislation and banking trends. He attended the convention as an officer of the American Bankers’ Association. In opening his remarks, the Washington banker was accorded an ovation when he said: “It is always a pleasure to be with the members of the Virginia Bankers’ Association, for, as a sort of Virginian once removed, I feel particularly close to you. You probably do not know this, but my father was born just out- side Richmond, served in the Rich- mond Fayette Artillery during the Civil War and was assistant city en- gineer at Richmond before moving to ‘Washington; and both of my grand- parents are buried in Richmond. These ties would naturally make me 611 125% 124 Brown Shoe pf (7). 15 feel close to Virginia, but the many delightful and worthwhile contacts I have been privileged to enjoy with fellow bankers in your wonderful State have also made me feel very close to Virginians.” His summary of the present situa- tion in banking legislation was clear and complete. In opposing the cen- tral bank idea and granting of sweep- ing powers of control to the Federal Reserve Board in Washington, Mr. Fleming said: 24% 5 30% 141% 110 Am Can (t4).. 20% 45% 1% E] 10 Am Car & Foun 26% Am Car & Found pf. 3% Am Encaustic (d).. 2 Am & Foreign Pwr. 12 Am & For Pw $6 pf. 14 Am & For Pw §7 pf, 8% Am & For Pw 2d pf. 8% Am Hawailan 8S(1) 28% Am Icepf6).....e0 4% Am International. .. 9 Am Locomotive.... 18% Am Mch & Fy (Me) 72 Am Metals pf. 24 Am News (1%) 1% Am Power & Li; 8% Am Pwr & Lt §6 pf. 10% Am Pwr & Lt $6 pf, 10% Am Radiator.. 15% Am Rolling Mills. 4% Am Seating... (35 63 Am Snuff (13). 12 Am Steel F‘ounflry. 88% Am Stores (12).. 181% Am Sum Tob (1)... 98% Am Tel & Tel (9) 72% Am Tobacco (5)... 74% Am Tobacco B (5).a 9 Am Type Fd pf (d).. T Am Wat Wks (80c). 4% Am Woolen. . 85% Am Woolen pf. 2% Am Writ Pap pf(d). 8 Anaconda Copper. .. 12% Anchor Cap (60c) ... 86 Archer Dan M (t1). 8% Armour of Illinof: 55% Armour Il pr pt 714 /.80 Dry Good 85% Atch To&S F (b2 19% Atlantic Coast Lin 21% Atlantic Ref (1) 1% 32% Atlas Powder (3)... 111 Atlas P pf(6)called, 15 Auburn Auto.....a 3 Aviation Corp Del.. —_— 1% Baldwin Loco (d)..: 73 Baitimore & Ohio. .. 9% Baltimore & Ohio pf 4 36% Bang & Aroos (2%) 32 Barker Brothers pf. 5% Barnsdall Corp. ... 37% Bayuk Cigar (t50¢), 15% Beatrice Cre (a50¢) 11% Belding-Hem (a50¢) 11% Bendix Aviation.... 15% Beneficial Loan 1%. 34 Best&Co (2).....0 21% Bethlehem Fteel..a 55% Bethlehem Stl pf... 9% Blaw-Knox. . 61 Boeing Alrplane.... 48 Bohn Alum&Br (3). 90 Bon Ami (A)(t4).. 21 Borden Co (1.60)... 28% Borg Warner (1%). 8% Bridgep't Brass 40c 24% Briggs Mfg (2).... 2314 Briggs & Strat (3). 30% Bristol-Myers (12). 36% Bklyn-Man i'r (3;.. 43 Bklyn Union Gas(5} 8% Bucyrus Erie ov pf. 3% Budd (EG) Mfg... 23 Budd (EG) Mfgpf. 2% Budd Wheel. 8% Bullard Co.. 3 Burns Bros pf (d).. 13% Burr Add M (60¢). 11% Byers (A M).. 83% California Pkg u% 7% Campbell-Wy (a2 8% Can Dry G A (40¢c). 9% Canadian Pacific..u 30 Cannon Mills (2) 4% Capital Admin (A 321 Cap Adm pf A (3).. 361 Caterpillar Tr(f 19% Celanese Corp. 1% Celotex Co vte 11% Celotex Co pt (d) 22% Cent Aguire (1%).. 38% Cerro de Pasco (2)+. 3% Certain-Teed Prod.. 37% Ches & Ohlo (2.30). 36 Chesapeake Corp(3) % Chi & Gt Westn(d).. 15% Chi Mail Order (t1) % Chi Mil St P & Pac.. % Chi Mil StP&Pac pf, 2% Chi & Norihwest.., 20 Chi Pneu Tool pf.w 25% Chicknsha CO (3).. 834 Childs CO..eveeened 9 Chile Copper.. 31 Chrysler Corp (11). 20 City Ice & Fuel (2). 3% City Stor ceses 284 Clev Graph Br (1)s 5 32% 90s 125% 125 125 % 4% 4% 152% 164% +1% 3w 3% 3%+ % 44 M+l 25% 26% +1% 60 61 + % 2% 32% - % 28 144 140% 144 +3% - N mBAN " Y-S - Y P OIS :1 17% + % 15% 1 20% 16% Fed'd D Stra(160¢). 28% Fid Ph F In (11.20). 134 Firestone (40c) 843 Firestone pf A (6).. 45% First Nat Strs(2%) 204 Mach (1). 8% Fox Film (A).. 80% Frank Sim pf 17% Freeport-Texas ( 28% 12 4% Fuller Co 2d pf. —_— i 3% 9% 7 Gamewell Co.. 8% 6% Gen Am Investor e s e im In pf ww 6. ) 19 Gen Cable pf. 50 GenCigar (14)....0 20% Gen Electric (60¢).. 32% Gen Foods (1.80) ... % Gen Gas & El (A) 59% Gen Mills (3).. 11&% 116 Gen Mills pf (6) 341 26% Gen Motors (1).... 117% 107% Gen Motors pf (5).. 17% Gen Print Ink 1.60. 2% 1% Gen Public Scrvleo. TS @ -aS-.- us 29 2% 28% 160 16% 12 Gillett Saf Ras (1), 87% 170% Gillett Stf R of (§)« 82 23% Glidden Co (t1).... mm 104% Glidden Co pr of (7) 14% Gold Dust (1.20)... 7% Goodrich (B F)...« 40 Goodrich (B F) of.. 16% Goodyear T& R.... 70 Goodyear $7 pf (4). 50 20 Gotham Silk Hpf.. 8% 5% Granby Consol..... b 2% Grand Union. 29% 14% Grand Union pf l% 85% 26 Grant (WT) (t1).. 21% 9% Great Northern pf.. 32% 26% Grt West Sug (3.40) 28% 21% Hackensack W (1% 33% 30 Hack WpfaA %). 108 101 Hanna (M A)pf(7). 20% 16 Harb Walker (1)... 9% 5% Hat Corp of Amer.. 100 81 HatCpfww(6%). * 8% 1% Hayes Body. Hercules Mot 5% Holland Furnac 6% Holland & Son (50c) 6% Houdaille-Hersh B. 43 Howe Sound (3)... 6% Hudson Motor Ca: % Hupp Motors - s 1 l'A 5% 26% 92 - e e 8 wSabarirSnNadanoman 2 204 17% 9% Illinots Central 28% 15 Illinols Central p! 33 23% Indus Rayon (1.6 95 60% Ingersoll-Rand (2). 65% 46% Inland Steel (2) 4% 2% Inspiration Copper, 6% 4 InsurShectMdléc. 3 1% Intercontl Rubber., 7 4% Interlake Iron. 5 2% Int Agricultural 42% 26 Int Agricul prpf. 184% 149% Int Bus Mach (16 fl 3% Int Carriers Ltd 22% Int Cement (1). 34% Int Harvester ( 1% Int Hydro Elec (A). 22% Int Nick Can (60¢) s 4% Int Paper & Pw pf.. % 21% Int Print Ink (1). 983 Int Print Ink pf (! 29 IntSalt (1%) 424 Int Shoe (2). 601 Int Silver pf 5% Int Tel & T 8% Interstate Der: 59 49 Jewel Tea (3).. 57% 38% Johns-Manv (a2 125 117% Johns-Manv pf ((7) 73 50 Jones&Laugh 7%pt 3% Kans City Southern 6% Kans City South pfs 7% Kaufm'n D S(a40¢). % Kelly-Spring T (d). 6 Kelly ST 6% pf(d)n 6 Kelsey-Hayes (A).. 3% Kelsey-Hayes (B) s 12% Kelvinator (t50¢).. 13% mecott C (60¢). 23 Kinney (G R) Copt 24 Lambert Co (3) 10% Leh Port Cement. 32% 1145 29 2% 27% 18% 4% 85% 31% 8% 4" 184 8 286 % 3% 184% 344 20% 29% 33 20 10 9 51% GD +1 69 68% 111!4 ll'l% ll'lV. + % 106% 106% 106!( + : s% 9% 2% 23% 9% — 8 % 14% 50 8% + 1% + 15 + 21% — 26% — 53 +1% :gl IHK 124 124% +2% 68% — % 6% — 9% % % % % % £ P. it °;§ e 33285000 2222222 222 2% “i i 21% 13% Northern Pacific... ot e | 14% 9% Ohlo Ofl (a15¢)..... 4% 1 Oliver Farm Equip. 7% 4% Oppenheim Collins. 20% 11% Otis Elevator (60c). 46 22% Otis Steel pr pf. _— 26% 13% Pacific G& B (1%). 85 19 Pacific Ltg (3.40)... 21 12% Pacific Mills. . 5% 3% Packard Motor. 4% 2% Par Public cod (I) 2,818 ....?.‘.sa P ° e Bal un 574 Penney (J C)(2). - 110 103% Penney (J C)pf(6).: 26% 174 PennRR (1) vcvee 17% Peoples Gas Chi...s 93 Pere Marquette. 14% Pet Milk (1) 7% Petrol Corp. .. 12% Phelps Dodge a2bec.. 23 Phila Co 6% pf (3).. 383% Phila Co pf (6) new. 1% Phila & Read C& 1. 35% Philip Morris (1)... 5% Phillips-Jones C..u 13% Phillips Petrol (1) . 5% Pitts Screw & Bolt.. 24% Pitts United C pt., 6% Plymouth Oil. 6% Poor & Co (B) 4% Postal Tel & Ca % Pressed St Car(d) v 42% Proc & Gamb (1%). 120% 115 Proc & Gam pf (5). 39% 20% PubSve NJ (2.40). 52% 34 Pullman Ine (3) 10% 5% PureOil.. 90% 49% Pure Ol p! 14 8% Purity Bak ha . S0 P YT TST =1>- P Y 6 4 Radlo Corporation., 63 85% RadioCorppf B.... 1% Radio-Keith-Or(d) + 16% Raybestos-Man (1). 7 Remington-Rand... 71u Remington-R 1st pt 28* Republic Steel pf... mm 101 ReynldsMet pf 6% . 62 43% Reynolds Tob B (3) 46 36% Safeway Stores (3), 10% St Joseph L4 (40c). 1 St L-San Frpf (d).. 22 Schenley Distille: 1% Schulte R Strs. 8 Schulte R Strs pf.. % Seaboard Air L (d). % Seaboard A L pf(d). 20% Seab'd O Del (160c) 81 Sears Roeb’k(a75c). 1% Second Nat Invest.. 40 Sec NatInvpf3li T% ServelInC..u..vuue 9 Sharon Steel Hoop.. 7% Shattuck (F G) 25c. 5% Shell Union Ol.... 8% Silver King C (40c) 6 SimmonsCo....... 24 Sloss-Sheffleld pf. ., 15% Snider Packing. 6% 11 Socony-Vac (60c) 149 132 Sou Porto R S pf ( 20% 10% South Cal E4 (1% 19% 12% Southern Pacific 7% Southern Railw: 10 Southern Rwy pf. 59% Spang Chalf ptf ($2) 344 Sparks-Withington. T4 Sperry vtc (a2 815 Spicer MIg. 33% Spicer MIg p! 43% Splegel-May-Ste: 130 1225 Stand Brands pf (1) ‘2 215 Stand Com ‘Tobacco 16 38% 27% 50% 16% 67 6 Stand G&E $7 pt.. 27% Stand Oil of Cal (1) 23 Stand Oil of Ind (1) 36% Stand Ol NJ (11).. 12% Starrett (L 8) a25e. 58% Sterling Prod (3.80) 18% 128 128 m + 2% 5% 6% + 8644 20% 12% 1 su 5% 0% % 5 108% 103% 28% 2 35 16% 134 % 146 146 +1 19% 19 10% 138 893 4% 9% 10% 43% 60% 15% 20l 124% 1245- 126% - as 95 11% 13% 364 25% 48% 1615 63% l% 37% m'm 107% - I‘ 18% + cm 50 88 43 20% + % lfl-}“ 40%-1-!6 26% + % 35% +1% 13% +1% 4% % + % %+ K% u +1 - % 6% + % 3% + % 34% +1% 18% 44% +1 60% - 318 + “ o+ 4% + 11% + 13% + 36% + 25% 4% + FEE FEFEERL PEEE FEIEE FF ¥ ¥ ?sziifisi?s; 13% Thompsen Proa\m.- 7% Tide Wat Asso O 106% 100 Tide Wat Of1 bt (I). 7% 4% Timken-Detroit.... 40% 28% Timken R B (11)... o 4% Tran erica(25¢) 10 5% Transue & Williams 44 1% Tri-Contl Corp..... 42% 86 Trico Prod (23§)... 27% 18 TwinCity RTpf... 2% 1% Ulen & CO.ouvveennt 69% 63% Una-Ell-Fisher (2) 62% 44 UnCarb&C1.60.... 20% 14% UnOilof Cal (1)..s 111% 82% Un Pacific (§)..... 264 20% Un Tank Car (1.20)» 15% 9% United Alrcraft...q 6% 4% United Air L vte... 26% 20% United Biso (1.60).3 46 United Carbon 3.40, 1% United Corp.. o 20% United Corp yt 3). 8% United Drug......s 4% United Dyewood. .. 3% United Elec Coal... 9% United Gas lmp (1) 23 Unit Paperb'd (d).. 1% United Pco D W.... 4% U S & For'n Secur.. 11 USFreight (1), 40% U 8 Gypsum (1).... 354 U S Ind Alcohol (2). T34 U S Leather (A) vic, 14% U S Pipe & F (50¢c). 314 United Stores (A).. 51 Univ Leaf Tob (12). 150 133% Univ Leaf T pf (8). Ul Pwr& Lt (A). 11% Vanadium Corp. 11% Van Raalte. 34 Vick Chem 17% Va-Car Chem 6% pf 72% Va El & Pw pf (6).. 3 Va Iron Coal & Coke 26% Walgreen Co (1.20), 1% Walworth Co. 28%; Ward Baking p: 2% Warner Bros Pie... 14% Warner Bros Pic pf 214 Warren Bros......s 4 Webster Eisenlol 30% Wesson otsmm . T2 WessonQ&Spt4.. 34 West Pa Elec (7) A 36 West Pa Elec pf (6) 39% West Pa Elec pf (7) 2% Western Pacific pt. 20% Western Union.... 18 Westingh'se A B 50¢ 32% Westingh'se Elec. .. 90 Westh'se 1st pf 3% 16% Westvaco Chi (40c) 14% Wheeling Steel..... 46% Wheel Steel pf(31). 6% White Motor...... 1 Wilcox Oil & Gas 3% Wiison & Coal2 58 Wilson & Co pt (6). 51 Woolworth (2.40).. 11% Worthington Pump 35% Wright Aero....... 82% 73% Wrigley W jr (13). 4% 2% Yellow Truck...... 42 81% Yellow Truck pf... 18 Young Sp& W (11) 21% 13 Youngstown S&T.. 56 38% Youngstwn S&T pf. _— 4% 2% Zonite Products.... 29 ppmmsu-usuenumn!.smm « 270,000 12:00 Noom. 11:00 AM. - @ O B - we 110 691 33% 88%n 6% 641y 208 147% 147 1 1k 1% 208 14% 14z 2% 13% 20% 37 20 Eofummanm A em - 2 3% Dividend rates as given In the above table ai cash paymenis based on the latest quarterly declarations. sUnit of trading less than extra. jAccumulated dividends. year. XEx dividend. 100 shares. 1. aPaid this year. dCompanies reported in receivership or being reorganized. FFEFE 12% + 19% + 21% + 4% 13+ 3244 — 10 -1 691 —1 34 + % 8813 5% 65% +1 147% +1% FEOFEF FFEF FR 3% + % 90 +% 20 —h 17% + % 45% +1% « 790,000 the annual half-yeariy Annual rate plus bPaid last BONDS ON THE CURB MARKET d Rad 6s Wach R'Y l Wash W & York Rwy 58 Buen A _Pr b 4s 'bl__ 105 1(‘5 P 5s o watrants Without warrants. New. vl—when issued lOB as Market Continues to Push Upward. BY VICTOR Asscinted res Pasoetalrer NEW YORK, June 22.—The stock market continued to push forward in today’s briet session and many new highs for the year were recorded. Week end realizing in the first hour was overcome with little difficulty and bullish activity broadened later. The close was firm. Transfers approxi- mated 600,000 shares. Optimism apparently ruled in the boardrooms and profit taking was not urgent at any time. Strength was dis- played by a few specialties, but the general gains ranged from fractions to around a point. Washington develop- ments, on the whole, did not seem to disturb sentiment. Shares of air reduction and Ameri- can Can got up more than 2 points each and American Tobacco “B” and Allied Chemical were nearly as much higher, Other advances were regis- tered by Du Pont, Safeway Stores, Montgomery Ward, Chrysler, General Motors, Philip Morris, Johns-Manville, Standard Oil of New Jersey, Kenne- cott, American Smelting, International Telephone, American Telephone, Con- solidated Gas, North American, Beth- lehem Steel and Electric Auto-Lite. Most of the rails and oils were un- changed to slightly improved. The belief was expressed in some quarters that, barring exceptionally bad news, industrial activities this Fall will be considerably ahead of the same 1934 period. The thought in the financial dis- trict was that the President’s higher tax program may not get through Congress this session and the opinion was voiced that before the next term administration forces might feel much different about the “distribution-of- wealth plan, The action of the House Interstate Commerce Committee in shearing the utility holding company bill bright- ened the outlook for owners of power loans and equities. Announcement that retail cigarette prices, which dropped when the N. R. A. codes were invalidated, would be raised next week cheered followers of tobacco stocks. NEW YORK BAR SILVER. NEW YORK, June 22 (#)—Bar silver quiet and unchanged at 72. FOREIGN MARKETS. By the Associated Press. BERLIN.—With steel and mining shazes being favored. prices on the Boerse held firm throughout today's session. London and Paris closed. FOREIGN EXCHANGES. NEW YORK, June 22 () .—Foreisn ex- change steady: Great Britain in dollars. cable. ands—Belgium, ~ 16.9 Ho]l:n 88.0 07; tzerland, S Pnrtuul. 4.49%; Greec Crechoslovakia. 41 1o Aus ‘Hun (," - Hnn-ium 57.50; Mexico Montreal in New York, 99.93%: Nei in Montreal, 100.06%. n—Nom! CHICAGO LIVE STOCK. CAGO, June 22 (P.—Cattle. B00: 166, compared Priday_ last week: fed “steers Tosed ‘mor active, but ak ainst a semi-demoral I5ed market late last. Priday. but valu 25350 cents under week ado. Wednesday, all* grades showing Gecline and, e £ “wicke aeo; better fade calvens lots, 10.25. few choice packages. all heifers closed 25 cents or more Iall olfl- sheep weak to_ sl ¥ $he Tambs, 8,75 paid at, close for_ bot Sotives 'ufih%veszem“ et bl chojee, B4 pounds Westerns. plain wooled Californias. shorn springers {rom ssme State 6- desirable natives mostly 8.008 7! 222 161% Coca-Cola (8).....s 18% 15% Colgate-P-P (50¢).. 19% 9 Collins & Aikman.. 7% 6% Colonial Beacon Ofl 164 7 Colo & South 1at pf. T% 3% Col Gas & Eleo..... 35% ColGE&E DL A (6). “Central banking was twice tried in this country with the first and second banks of the United States, covering the intervals from 1791-1811 and 1816-1836, and both of these institu- tions were abolished because the (stp. ped. h«omuum impaired by maturity, Tevorted in receivership. CHICAGO STOCK MARKET —Following is 1% Lehigh Valley Coals 18% — 7+ 15 % + % 6 +2% steady: - qu Ioers Yook none: estim 46560 pound: 375-950 E%unfll 9.80a75: !ofl-.. ‘Bou.n 2 641! 3% xen.zmi 0% 3% !"“"”fi &E New Eng G&E New Eng Pow New Eng P 5 N Orieans 4'as '35 03 o0ab. e credit control they exercised became unpopular and the question of their continued existence became a political 1ssue, Regional Viewpoint Held Vital “Realizing that our country is many times the size of Europe and there- fore cannot be financially serviced by one central bank, the Wilson adminis- tration profited by the experience of the past and devised the regional Federal Reserve System. When we consider that the Northeast is still dominatly manufacturing in char- acter; that the South, although grad- ually becoming more industrialized, still looks to cotton and tobacco as its main products; that the Middle ‘West yet largely relies upon grain and live stock for its buying power, and that the Pacific Coast even today con- tinues to be almost a separate economic unity, it is hard to conceive how complete centralization of bank- ing authority in Washington would best serve the interests of our country. It is essential that there be an expres- sion of the viewpoint, and a represen- tation of the vast and diversified interests of the various sections of our country.” It was announced that Senator ‘Carter Glass had been detained in ‘Washington on account of pressure of work. The convention was deeply disappointed today not to hear his scheduled address, The Virginia states- man was given high praise by M Fleming for the courtesy he has shown the officers of the A. B. A. in banking bill conferences. “All of us have been greatly impressed with his ‘magnificent grasp of the fundamental principles of banking, and his keen and sincere desire to do what he be- lieves is best for the wellll'! of the people of the Nati 104% e 84% Colum Plovte (1) 393 Comel Credit (2)... 56% Comel Inv Tr (12).. 17% Comcl Solv (160¢) .. % Comw & Southern.. 29% Comw & Sou pf (3). 27 Congoleum-N (1.60) ® CongressCigar.... 7 Consol Cigar.... 62 Consol Cigar pf (’l) 3% Consol Film....... 144 Cons Film pf ($1%) 15% Cornsol Gas N ¥ (1). 72% Consol Gas pf (6) .« 6% Consol Oll.s.useeve 21 Consol R R Cuba pf. 1 Consol Textile..... 4% Contl Baking (A). e % Contl Baki: B).. 46% Contl Baki t (4) 62% Contl Can (2.40)... 28% Contl Ins (11.20) % Contl Motors. . 154’ Contl O Del (“1%0 41% Corn Ex BK&TT (3). 62 Corn Prod Ref (3. 4% Coty Inc.. 36% Cream of Wh 28% CrownC &S (1). 8% Crown Zelleb’k vtc.. 5% Cuban-Am Sugar 6% Curtiss Wright 16 Cutler Hammer ... e o e 22 Deere &C0.... .00 19 Deere&Co pf ($40c). 23% Delaware & Hudson 11 Del Lack & West... 26% Diamond Mat (1) 84% Dome Mines (12)... 6% Dominion Stores. .. 17% Douglas Aircraft, 12% Duplan Silk (1 6% Du Pont de N (2.60) 3% Eastern Roll Mills., 8 149% 110% Eastman Kod (5)+ee 20% 16% Eaton Mfg (1).. 19% Electric Auto Lite.. 29 112 107 Elec Auto Lite pf 7. 6% 3% Electric Boat.....e 3% 1% Elec Pwr & Light.. 93% Ligg & Myers B(t¢) 12 HIK llOl\ IHK 1 D 2% 2% : ™ T 204 21 27T% - 24% + 81% — 16% - 2% — 4% - 7 - uu + 14% — % FRFEELJRE B FEP FE EL R REF ¥ 14% ul“ 10“ 106 +1 2 % & 3 147 147 5% U7 - % 59 21% 20% 21% + % 124 21% 22% +1% 30s 109% 109% 109% — % 8 5% 5% oW 42 3% 3 3% + % 16% Lily Tulip Cup(1%) 17% Link Belt (60¢) .00 311 Loew’s Inc (2) 10!% 102 Loew’s Inc pf 39% 83 Loose-Wiles (2). 22 18% Lorillard P (11.20)« 1% _ % Louisiana Oil.. 18% 10% Louisv G&E(A 18% 12% Ludlum Steel.. 46 40 McAndrews&F(12). 130 113 MacAnd & F pf (6). 86% 28 McCall Corp (2). 124 6% McCrdry Strs B(d. 8% T McGraw Hill Pub. 26% Mcintyre Porcu (2)- 90% McKeesport T P (4) 5% McKesson & Rol 82 McKesson & Rob p 8% McLellan Stores. 18% Mack Truck (1) 30% Macy (R H)& Co(2) 3 28 20 41 5% Marine Midld (‘M). 3% Market St Ry pr pf. 20 Marlin-Rockwell(2) 6% Marshall Fleld..... 5% Martin Parry.. 32 23% Mathieson Alk(1%) 150 136 l(n.himn Apt (7). 88 Maytag pf ww $2%. 843% Maytag 1st pf (6).. 41 Melville Shoe (12).; 24% Mesta Mach (1% )., 9% Mid-Cont Pet albe.. 8% Midland Steel Prod. 60% Midl'd Stl 1st pf(3). 8% Minn Moline Pow. ., 31 Minn Moline Pow pf 1% MStP&SSMlsin 100, ...5..,..5.., 1% Mo Pacific pf (d)..s 56 MonsantoC (1)...s 21% Montgomery Ward., 3% Mother Lode......3 28% 17% Motor Produets (1). T% Motor Wheel (50c)« pooxSanane 28 % 41% 1 18% 18% 18y 28 41% + % 107 - % 39% 2% + % % 18% + % 15% + % | Shi R os ctts - wee e EFERLEFL B P} +4+++ 01+ 3 & ,_.... #5°§3%2%8z-20z00. 34 +4+4++) +++l++ 1+ ++ seeed sesEss Ssresf ) FRISRBESS F X RSP Ze5 T e F5B BisJEANE SEEF R ’ S bt DEE 5505 ki weno 5 BHBB IR 255 B S & SFERFSEE L R e A R R LR AL QQ O 233880208 wrEE = o gt 3 2 f eI e gk ) iy eammimE acla eolftE gt one <] TG SRR o E o SaT > 3 W vl‘arflzgi SoEe > Pt !O v, 2¥e=g 2% awn & o Stat ot Edis 2 T :::, E No Ohlo T&L bs Nor Stat P 3 Fo Northw_El 8s "4 N S 5’ E Pow Sec. Corp 83, ’49_. Bub Ser 5is A '4» o & 48 the GOmPIER: OmBCial st of Transacrions 1a stocks on Chicago Stock Exchange 50 Abbot Lab .. o55athE ey SE5ISERSRERBIIISAT § TS FR RS R 190 %5 04% 10412 101% 10144 101% 100% 100% 1007 1083 103% 105% 03% 103% 103% 1088 lmv' 103% lg?.% 102"2 102% 103% 103% 10« 101, 102t unt 13x i mn 403 40l 103 30 108 54 185 15 3% 334 4033 7l 81 4215 30Y 39% 39: 146 146* 145 2 11% tal stock sales ‘today—17. BONDS. P000La S 8 B 5les "58 29'/: !!‘/A 100N WS K E 4o 38 ‘143% es today—$10. 2!& 25'0.350 5 INVESTMENT TRUSTS m DO‘H.IK. Ju:.l 2‘2 Il:’l—l't' York 8l sociation’ urity ers’ lm%o oy Admin Pund ww. A B Tkstocks 12020 3 ARG I a ety EFPEH B Money Available At 5157 '..Ed 6% pofor First Morts D. ‘entdt < b1 7 Mulling Mfg. U. S. TREASURY POSITION. By the Assoctated Press. The said, the statement uusina an out- burst of applause. DOLLAR GOES HIGHER IN LONDON DEALINGS By the Associated Press. ' LONDON, June 22.—The foreign ex- change market was quiet throughout today’s half session and there were few transactions. The United States dollar ciosed at 493% to the pound, ' compared to the New York overnight Tate of 4.94. The French franc closed at 74.60, as compared to the overnight rate of 74.63. 26 14 27 16% 43% 13% 18% + % 16% 16% + % 43% 43% 21 Elec Pwr&Lt $6 pf.: 16% 3 Elec Pwr&Lt $7 pf.. 49% 39 Elec Stor Bat (3%). 66% 52% Endicott-John (3).. 182 125% Endicott-John pf(7. 60 3 1% Engineers Pub Sve, Eng Pub Svo $5 pf.. uu Eng P 8 $6.50 pf ww % 1+ 2, EQ0! ow e o 1221 Eye St. N.W. st gEaT, H99 3 gyfs 2 =z LA ze igd - _w> e = = [Pty 25532335 ¥ + + * + + FR REFE 1+4+++ FEFEE EEEEE FESR 2 2 ndi- | | we wm l-h Pirst increase of $2.258.137 '"" ‘fi‘ll previous day; gold assets. $0,- 52,013, iDts iof June 21, 1034, (comparable lz.m - 'Sor the month, | 25 > E:Q 2 '1:2' 25> - = 3 §8:058" S B 5% Red Bsute Mortgage and Guaranty tion Phene Nat. 1408 e e 15 Evans Prod (al)ues 2 BExchange Buffet +1 o -3 ® . S13.113,413; +1++ - et 2o , ey ¥ 28% 21 NatEn & Stpg (2 4% Nat Powr & Lt (300 “ l!i FFE SRR OF N Segessesy L) ae, 'z, &3 o' 2% % Fairbanks Co, T [ iy §aassgg ooy ot et s ®» Cg BT § p o+ b 2 TR ufls Fold assets. 2, 2 poifm- o8 ++++1 0 BEEEERSE ¥R 1+++ ‘;v . i vy r -l.l‘s; ;.u"..- - G i E1 3 >