Evening Star Newspaper, June 24, 1935, Page 16

SECONDARY BONDS|B ONDS ON CONTINUE TO RISE Carriers Retain Leadership. Most Prime Corporates Slightly Easier. By the Associated Press. NEW YORK, June 24—Bonds of the semi-speculative class continued to shape the trend of the bond market today. Prices were higher in this division, and rails held their position of lead- ership. United States Governments gained & little ground on balance on light dealings, but for the general run of prime corporate issues prices were a little easier. In the low-priced cate- gories closing levels were only a shade below the best. ASSOCIATED OUTPUT CONTINUES TO CLIMB Bpecial Dispatch to The Star. NEW YORK, June 24—Because of continued increase in industrial de- mand, the electric output of Associated Gas & Electric System for the week ended June 15 was again greater than ever previously reported for a com- parable week in prior years. Production amounted to 54,874,530 units (kilowatt hours), an increase of 6.4 per cent over the corresponding week last year. The production index of the Asso- ciated Gas & Electric System showed 102.88 per cent, as compared with the New York Times’ index of the entire industry, which showed 102.4 per cent. Gas output showed increases over comparable weeks in 1932, 1933 and =934, but was slightly less than output In comparable weeks in 1929-1931, N Sy GAINS ARE NARROWED IN PAPER INDUSTRY By the Associated Press. NEW YORK, June 24—~In many divisions of the paper trade, says Dun & Bradstreet, the gams recorded earlier in the year are being narrowed. The survey adds that “there are innumer- able indictions, however, that basical- iy conditions in the industry are strengthening with the price structure firm, new uses being devised constant- 1y for its products and better grades coming more into prominence, in keeping with the country's rising pur- chasing power." CHICAGO STOCK MARKET CHICAGO. June 24 (P.—Following is he complete official list of transactions ’.n stocks on the Chicago Stock Exchange sn 110 Abbot Lab 500 Advance Alum” 50 Allied Prod m Pub Svs pf IbU Asbeslos Mig . 300 Autom Prod 900 Bendix Av . 1400 Bors. Warner 5 & Sons 5 Ch 660 Shles e 100 Comwith 150 Davion Rub 10 Dexter Co.. 150 Elgin Nat 250 Gen Household 100 Goldblatt ~. .- By private wire direct to The Star. LIBERTY. High Low. Close. 4th 434 #1933-38..10129 10127 10128 TREASURY. 10118 10116 10118 10824 10320 10824 10325 10323 10824 1061 1051 1081 10428 10427 10428 10819 10819 10819 10615 10614 10614 940+43 June 108 18 10817 10817 10721 10719 10721 1108 1107 1108 11128 11126 11127 10625 10621 10623 4T3 e e 11628 11625 11628 FEDERAL FARM MORTGAGE. 285194247 1012 1012 1012 . 10218 10212 10212 10210 1028 1028 3% s 1964. 10327 10324 10824 HOME OWNERS' LOAN. 2% ®1939-49......10021 10019 10019 151953, 1026 1023 1024 481951, 1001 1001 1001 FOREIGN !ONDI- ADbitibl Pa&Pw bs '53. Agr Mtg Bk Col 6s *48 April cou on.. Akershus 68°63.....0 Antloqula 78 45 C. Antloquia 78 Argentine Argentine Argentine 6s 'Bl B Argentine 6s '59 June 9 % . 102% 102 102% 1024 102 102 % 9% 94% Australia 6s I. Australia Austrian 7s* 51 . Batavia Petr 433s8°42,. 112 112 Bavaria S63%s'45..., 30% 30% 30% Belgium «+ 1054 105 105% Belgium 7855, 000 v 1145 114% 114% Belgium 78 '66...c000 107% 107 107% Bergen City 65 49,400 9915 99 Berlin Elec 65 '55...0 26% 26% Berlin 6s'58. . 24% Berlin 68 °50 27 Berlin Elec 6% 28 Berlin Bl Ry 6%8s 3¢ Bogota 85 '45. Bolivia 7s'58. Bolivia s Bolivia 8s'47. Brazil 6%s°26-'57.... Brasil 6138 '27-'67. ou: Brasil$s'41......... Buenos A 65°61 st Pv. Buenos A C 6148 '55.. Buenos A 6%s'61 Pv. Buenos A 613s'61stPv Caldas 7%= 46. Canada ¢s°60.., Canada 438’3 Canada 5s°53. ees 11 10% 11 107% 107% 107% e 1023 102% 102% 118% 118% 113% 53 3 53 12% 12% Denmark 6s '4! Dominic 1st §° Finiand 6%s ‘56 Frankfort 6%s '5. Ger CBk A 6s Ger C Bk A 65 '60Tuly Ger C Bk A 6560 Oct. Ger C Bk A 78 '50. Ger Gen El 6s°48. Ger Gen El 7s ‘45 2 | Ger Gov 6%8°65. Ger Rep 7s °49 Good HS & 178"45. GrtBr&Ir 5%s'37, Grt CEl Jap 7s'¢ Haitl 65°52. Hamburg St 6s "46 Hung Con M 7%s"45 unmat coupon on Hungary T%s ‘44 Febr coupon on.. Italy 78°51....c..0n0 ItalCrd P W 78’37 A. Ital PUCrd 7 12 | Japan 5% ‘65 Japan 6%s ‘54 1312 | Jugos Mtg Bk 30 Pub 120 Quaker Oats .. 100 Raytheon vic .. 100 Raytheon vtc pf. 450 Reliance Mfg 508t L Nat Stk Yds e HEER T 130 Vortex Cup 250 Walgree: 650 Wnukenu Mot ! o ®5I55E oRoonlisE & - [erereonm COMMODITY PRICES NEW YORK. June 24.—The Associated Prese wholesale “price index of 30 basic §oqmodities today declined to 00.18, new LIhe previous day it was 69.60. 5 week .00; ago. 7248, and a 1934 72,58 w 6018 56.61 (The 1926 average equals 100.) Markets. Additional New York markets as com- piled by the Associated Pre: SUG; 3 Closed steads, mber. . 105; May, Closed, easy, and; 1»31 84.10 38.37 Miscellaneous 7b; March, .UBBER—Futures 81018 lower_' fales No. 1 st Bantos No. 4. cost lnd (reuhl oflarmu lncludld. s.nlol Bourbon 3s and Rio futures closed e: unm coupon Kreu&Toll b: Medellin 6%5 "54..... Milan 6%8 62 Montevideo 6s'59.... Montevideo 7s '53. Nor Ger Lld 65°47new Norway 55°63....... 101% 101% 101% Norway 6%8 "65.ee0s 101 100% 101 106% 106% 106% 102% 102% 102% 9 N 22% 22% 22% 84% 84% 84% 100% 100% 100% 45 45 45 105% 105% 106% 1361 136% 136% 12 11% 11% 11% 11% 11% Nuremberg 68 °'52.... Orllnu.\ Dlv 6%s'58. [ Panama 538’53 Paris Orl By 5% l‘lu 3% 15 16% 14% 6% % I’l% 3% Rio Gr do Sul 7867 Jun Rumania 78 '69 Aug coupon off. . Sao Paulo C 634857 May coupon off.. Sao Paulo St 78 Sao Paulo St 8. July coupon off. . Saxon Pb W 638 '51. Saxon Pb W 7s 45... 9% .58: September, 7. n; Niarch: 7 82 M. 7.8 TOBA cco—rmum “Gosed steads. Bur- fes; January, 212 W HBk > Fulures closed steady, 35- B8 higher. 10.40-41; _ De- cember, 10.72: M 11.00b. Sal 0000 ponds. RAW SILK—Futures closed steadsy ehazged fo 1% hisher; sales. July. 1.33; Deoemxerq 31 BALTIMORE STOCKS Special Dispatch to The Star. ,TIMORE. June 24.— Baln o CTBTOCKS. e Low, Clowe. 20 Arundel Corp .. 20% 20% 20% 38 Black & Dedker 1. 1% Pidelity i 52 Pidelity . 32 oY e 26 Si o H7U ! Hdcl k Olll . 23 10 West Md Dairy pf. DIVIDENDS ANNOUNCED NE YORK, June 24—Dividends de- elared: o S A T Simms Petroleum cn;ggaf 71 78 Muskeron M B¢ A" -260 w 76 7-10 Serbs 85 '63 unm ¢ on Shin’su E1 P 6% Silesia Elec 648 4. Sydney 5% '65. Tatwan Eleo 638 11, Tono El Pw 78 '55. Tokio 53s ‘61 Toklo Bl Lt 6s '53. —.\ Ujigawa EP T8 '45... Yokohama 6s°61..... DOMESTIC BONDS. 43 100% 1045 104% 98k 931 934 46% 46% 46% 101 101 2% 13 61y 62 17% 17% 12% 13 o= g2 BOND AVERAGES Complied by the Associated Press. 109.9 109.5 110.3 .. 1083 104.4 20 10 835 833 9.7 9.0 878 6.4 894 4.5 45.8 1011 3.1 400 98.9 Previous day Year ago .. 1935 low ..... 1934 low . 1932 low , *New 1935 high. High. Low. Close. Am Writ Pap 6s°47.. 2564 25% 26% Ann A i1stexinds'95. 68% Ark&MB&T bs 93 w 105% 106% 106% 104% 104 1044 110 109% 109% % .. 1084 1081 1084 A T&S Fead 43°95 st. 106% 105 105% Atlanta & Bir 4s'33.. 111 11% 11% AQ&ChALdtetd 106 105 105 MU 9TH At ColIthl!l 2. 76% T6% 5% At1C L un 4%s " 9% Atl Coast L clt b 5% AtIG&WIE'S9..... 41% At] Refin deb 68 '37... 107% 107% 107% Baldwin Loco 58°40.. 101 101 101 ref 53 2000 D. - 69 ref 65'95 C.... &0 PLE&W V 48°41 99% B&0OSwnbs’60..... 96% B & O Toledo ¢s°59... 86 Bang&Aroos cv 4s ‘51 108 108% 108% BatCrk&St3s'89... 65 65 65 Bell T of Pa 68°48 B, 11814 1184 118% | g, Bell T of Pa 5860 C.: 1241 124% 124% Beth Stlpm 68'36... 1041 1041 104% Beth Stl rfdb 68’42, . 108% 108% 108% Bos& Me4%s'61J.. 71 70% 71 Bos & Me 5s '65. 75% 754 T54 Bos & Me 6367 LT5% 75 5% BklynCy R R 91 90% 91 Bklyn Edis 68 '49 A.. 1084 1081 10815 Bklyn Edis 6562 ... 108% 108 108 Bklyn M T 5549 A... 106% 105 106% Bklyn MT 63’68 A... 107 106% 106% 108 1084 108% Buft R&Pcon 4%8°67 631 634 63% Bush Termcn 68 '55.. 46 44 46 Bush T Bldg 586 162 61y 62 Calif Packing .. 104% 104% 104% %s'38.. 101% 10124 101% Nt R %861 1113 1111 111% NtRé%e'5¢ 103 103 103 NtR 6 111% 111% 111% Can'dian Ry ¢ Can‘dian Nt 65'69July 114% 114% 114% Can‘dian Nrdb 7s '40. 106% 105 105 Can’dian Pc db. Can'dian Pe 4 10% 19% Centof Garf 56%s°59. 10% Cent Hud G&E 68 '57. 106% 9 Cent Pac 1st rf ¢ °49. 103 Cent Pac bs Chi & Alt ref 3s " ’..‘ 45 ChiB& Qgen i Chi B & Qref 6371 Chi B&Q 1div 348’49 104% Chi & E I11 55 '51 CM&StP b8 '76.. CMStP&P adj 582! Chi& NW gn 3% Chi& NW gn 4s°37.. Chi & NW gn 4 o Chi Un Sta 5s " Chi& W 1 con 48 C&W11strf 5%s'62 Childs & Co 5543, Chile Cop dlb CCC&SLL C div 4s'39. 104% CCC&StL It ¢ %817, 724 CCC&StLrf5s'¢3D. 18 3 B, C‘l‘v Un Ter i%d‘ln 104 Colon Oil 68 ‘38, 67 Colo Fuel & 1 6: Colo ind el tr 68 Columbia G & Edeb 58°52 April. ceees, 90% Columbia G & 20 894 Col & H Val ext 48 “ 109% 109% 109% Col R PL 1st 4%s'67 107 107 107 34% 34u 3% Con Coal Md 5560 cfs 34% 34l 3% ConGasN Y 43%s°51. 108% 108 108% 105% 105% 105% 6 105% 1056% 106% 1061 106% ~ 103% 102% 103 104% 104% 104% 100% 100% 100% L40% 39 40% 42 41% 41% Cuba RRref T%s°36 43 41% 414 Cube Nor RR 634843 50% 60 50 Cumb T & T 68°'37.... 106! 106% 106% 80% 80 80% 9l 9K 9y 107 107 107 4% a4 ‘36... 31 31 31 10% 10% 10% 17 16% 17 ‘61 D 1134 113% 113% '67.. 106 105% 106 18 Duqu Lt 18t ¢34 East Cuba S %8 37. 664 Erle Gen Riv 6 i'l- . ll‘“ ll“ 116% l‘.fllath’.\‘rllltll'“ 9: 96 96 Gen Thea Eq 68 40.., 11% 11 efs.. 11 10% 11 - 98% 98 98 s 108% 108% 108% 111 Cent coll tr & 11l Cent ref 4 I1Cent 4%s 111 Cent ref & 111 Cent 6353 ICC&St L NO 4% ICC&St L NO s IntR T 1strf IR T 1strf 5866 ctfs High. Low. Close. 1. 106% 106% 106% 4T, {g:% 106% 105 .7 Phila&RC&I Phila&RC &1 6 Philippine Ry 48 Phillips Petr 6% Pillsbury F1 M 684! PCCAStL {%s 43 1 114% 114% 114% 114% 114% 114% 61 61 61 Port ACAD6s'63A., 83 81 83 Port AC&D 6s’'52 B., 80% 179% 80 Port Gen El 4 %8s s 6814 68% Port Gen El 1st 104% 104% Port G El 55 '35 Porto RicoAT Postal Tel & C 53’53 Pressed St1 Cbs'33 1. .. 107% 107% 107% 7. 1074% 107% 107% 101 101 101 102% 102 102 Richfield Ol 6 Richfield O Rutland Can 4s 49 % | St L IM&S R&G IntT&T6s .. Inv Equity & l'l A. . Inv Eq 6s°43 Iowa Cent bs 38 Iowa C 1st&rf 4s ‘51 James F & C 4539 Kala Alleg&Ge 65 °33. KanCF S&M4s'36. CF&M rf4s’36cfs Kan C Sou 1st 3s ‘60 Kan C Sourf in Kan C Ter 1st 4s°60 KanG&E ¢%45'8 Kelth 654 Kelly Spr Kendall 538 43 ww. Kinney(G R)7%s"36. Laclede G 5%s u C.. 5% T4 101%2101 101 10215 102'% 102% 4% 4% 4% Tl I 1IN 81% 814 81% 100 100 100 36 3415 36 32% 32% 82% 4% T4% Td% 69 68y 69 107% 107% 107% 108% 103% 103% 80% 80% 80% 7% 16 76 103% 103% 103% 108% 103% 103% 684 68 684 167% 67% 67% 9% 9% 108 66% 66% 66% 56 b4% B5 87% 87% 8T 42 41% 41N 46 45 45% 514 b51% Blk 115% 115% 1164 121% 121% 121% 13214 13215 182% 104% 104 104 3% T2% 8% 103 1027 102% 116% 116% 116% 112% 112 112% 107% 107% 107% 1023 102'% 102% 105% 105 105 957 9644 9% 65 1% 92 107 1067 LehC&N l‘&l'il c LVNY 1st 45’45 gtd. Leh Val Coal i LVNY4%s'40 gtd. Leh V Pa con 4s 2003, L V Pacon ¢%s2003. Leh V RR con 58 2003 Lex & ERy 58'65 LIZE & Myr 68'51eeas Ligg & Myr 78 "44. Loew’s 65’41 La& Ark 5s'¢ Long Isl ref Lorrillard LouG&E L &N unif 4s°40. L&N4%4s2003C. L&N56s2003B. T... Market St Ry 7s '40 L Mead Co 68 '45. . Met Ed 1st rf bs 75 102% 9874 98% 504% 1 32% 26% 39y 7 Mil Spa & N W ds'47. Minn&SLrfés'49.. MStP&SSM en MStP&SSM cn - MoK & T adj 58°67... Mo Pac 43'75... Mo Pac 5865 A. ... Mo Pac 68’77 F. e Mo Pac 5s'78 G. Mo Pac 55'30 H. Mo Pac 55°811 Mo Pac 5% 49 A, Mont Cent 63 °37 102 102 105% 105% 9y Wi 94 N 884 884 95% 95% 110 110 87y 874w 67y B7% 90 90 104% 104 104% 100% 100% 100% 3% 3% 34 1037 10814 108% 105% 105% 105% 64 64 64 122 121% 122 103% 103% Mor & Esx 63'56 Mut Fuel Gas §s 47 Namm & Sons 63°43.. Nassau El 4s ‘51 gtd. Nashv C&St L 4s'78. Nat Dairy 5% s ‘43 Nat Dis PC 4145"45.. Nat R M 435’57 asst. Nat Steel 45 '65. Nat Steel 53 5/ New Eng RR 48'52. . New E T&T 1st 5s ‘52 New J P&L 4%3°60.. NewOr GNR 6s'S3 A NewOr PS6s'62 A.. New Or P 8 5855 B.. New Or T&M 434566 New Or T&M inc5s'35 New Or T&M s '54 B New Or T&M s '56 C N Y Cent 4s°42. N Y Cent con 45 °9! N Y Cent rf 4348 2013 N Y Cent rf434s2013n NYCentrt . 110 lM 109% NYCLSh3%s'98... 884% 87% 884 NYC Mich C3%s'98. 86% 86% 86% NYCASCL st 42'41. . 101% 101% 101% Y Edison 6s ‘51 C. . W 18t ¢8'73. 109 108 1084 112% 112% 112% mlu 100% 100% 111'4 111% 834 21% 22 89% 89% 50 &0 15% 15% 151 115% 116% 116% Norf Sou 1st 58 "¢1... Norf So 1st rf.5s ‘61 Norf&W 1st ¢s°96. .. Norf&W PC&C 45 "41. North Am Co 58 '61... North Am Ed 58’57 A North Am Ed 68’69 C North Am Ed 5%s NornO T &L 6s'¢7. Nor'n Pac gen 3s 2047 Nor'n Pac 48 '97..... Nor'n Prc 4348 2047.. Nor'n Pac 53 2047 C.. Nor’n Pac 58 2047 D. Nor'n Pac 68 2047.... Nor'n Sts P 1stis’¢1A Nor'n St P 6s°¢1 B... Ogden L C 4548 Ohio Pub Ser 78 Ont Pw Niag 68 '4! Ont Trana 1st R&N 45 °46. Orl WRR&N 561 Otis Steel 6541, 108% 108% 108% 94% 94U 94% 102 101% 101% 107% 106% 107 107% 107% 107% 85% 85% 36% 110% 110% 110% 113 113 118 “l 105 ll)fi 92% 924 92% 107 108% 106% | 101 117% 117% 117% 108 107% 108 9T% 96% 96% 106% 10634 106% 106% 1061 106% 114% 134 114% 108% 108% EEEEEEELE] CEEEEEEEE] 3 1014 100% 100% | 4, S 11 111% 1“' 108 33! St L IM&SR&S4s'33ct StLP&N Wbs"48.. StLRM&P6s'56... StPM&MM ex St P M&M ext St P U Dep ref 49, 111% 111% Silesian Am 78 -~ 69% 69 SineCon O 6 B. 101% 101% 101% 101% So PacS F T So Ry gen SoRybs'9¢. So Ry gen 65’56, So Ry 6%s 'S SoRyM&O4s'3s Stand O1l N Y ¢%s'51 Stevens Hotel 6s Studebaker ev Tenn Cent 63 47 Tenn C & I RR §s ‘El. 120’6 Tenn El Pw 68°47 A.. 102% Texarkana 5% 8'60... 93 Tex Corp cv 58 "d4. . 108% '43 92 1083 108'4 17 12 435 438 1% 624 1204 120'4 101% 101% 93 23 108% 103% 921y 9215 90 Tex & Pac 58'79 C. ey Tex & Pac 53'30 D Third Av ref ¢s ‘60, Third Av 1st 58 '37 10115 1011 20% 20% 107 107 111% 111% 102% 102% 107% 108 114 114 Unit Biscuit 53 '§0. Unit Drug 63°53 Warren Bros cv 1 ‘W Sh 1st 45 2361 gtd. w Sh 1st 48 2361 rg. . it'n Kl deb b8 °44.. 1063 t'n Md 1st s '53. 96% t'n Md 53%48'77... 100% 101% 106% 106% 34 34n 34 34n taPacbs’46 A... 34 t'n Pac 58464 as. 344 t'n Un 4338 50 92% 93 % 9% 4 1015 1014 WisCS&D ter WisClstgen4s’49.. 10 Youngtn S&T ba'70 B. 95 947 95 TYoungtn BAT6sT8A. 95 94'5 95 —_— NEW YORK BANK STOCKS | & NEW YORK. Ji 24 (). —N¢ Y Seclirity Denlers’ Assocint o L oelock) e 9% 9% (Quotations as of 2 Bk of Man (1% First Boston Corn ) .. First Natl (100) Guaranty 'IY @ NI“ City ( lY N Y Trust (5) Publlc 11'ln Unlled s ’r “Including ex FEDERAL LAND BANKS NEW YORK. . —1 LanEW, YORK. June 24 (f).—Pederal lqllohflnm ‘as of 2 o‘e‘lfik.) 101% > 3 -4 ,._.-......._Eémuuu- R R R R R EEEPREeeRD 323 o 55555 S22 232 53 222 F 3 3 3332332 U. S. TREASURY NOTES. (Reported by Chias. D Barney & CoY !uu—u-tumy z 1%s 5, 1oas._1 . 1935__ 101 23 ) ln'm“ 103 3 1936 -33 AR B risisissasis FLE z"- 2adaiodsc, TRt B EE?’ hE 3 = 2 et b bttt PP ' 513038 EEECE e g ik ! T = 8 8 Sads: EXCHANGE SEAT ADVANCED. NEW YORK, June 24 (#)—Ar- rangements have been made for the sale of & New York Stock Exchange ‘membership for $108,000, an advance of $3,000 from the last transaetion. INLUMBER ORDER Shipments Also Drop Below Output for First Time Since November. ‘The week ended June 15, 1935, was the first since last November in which either lumber shipments from the mills or new business booked at the mills were below production. During this week shipments were 4 per cent below output, new businéss was .5 per cent below. All items were slightly lower than during the preceding week, but revised figures will bring them up to at least an even volume. Total production gained 3 per cent over that of the corresponding week of 1934, shipments were 20 per cent greater and new business was 31 per cent heavier than during the 1934 week. These eomparisons are based upon telegraphic reports to the National Lumber Manufacturers’ Association from regional associations covering the operations of 921 leading hard- wood and softwood mills. In the week ended June 15 these produced 155,- 264,000 feet, shipped 148,280,000 feet, booked orders of 154,607,000 feet. Re- vised figures for the preceding week were: Mills, 944; production, 156,990~ 000 feet; shipments, 155,786,000 feet; orders received, 159,256,000 feet. Of reporting softwood regions only ‘West Coast and Southern pine report- ed orders above production during the week ended June 15. Total soft- wood orders were 1 per cent below pro- duction, hardwood orders 8 per cent above hardwood output. Softwood shipments were 5 per cent below pro- duction. All regions but California redwood and Northern pine reported orders above those of corresponding week of 1934. Unfilled orders on June 15, as re- ported by 1,176 mills, were 944,765,000 feet and gross stocks 4,359,095,000 feet. Identical softwood mills report- ed unfilled orders on June 15 as the equivalent of 33 days’ average pro- duction and stocks of 132 days’ pro- duction, compared with 29 days and 155 days on similar date of last year. INVESTMENT TRUSTS NEW YORK. June 24 (P.— Security Deslers' ‘Association, T *" TOT (Closing quotations.) Admin Pund ww. Am Bankstocks Am ‘Business Shrs Bullock Pund ___ Cumulatixe Tr Sh Asked, 8 & Corporate Trust Accum Ser Gorp Tr Accum Ser mod..._ Depos B Pive Year Fixed Tr_ Pixed Trust Sh A Pixed Trust Sh B Pund Investors Inc_ Fund Tr Shrs A_ Fund Tr Shrs B Incorp Investors Inv Tr N Y Coll A - Investors Pund of Am Inc__ Maryland Pund Inc Mutual Invest, - Nation Wide Se N Y Bk m_Tr Suber of Am Tr BB- Super of Am Tr O. Super of Am Tr Supervised Shrs _ Trust Fund Shrs_ Trusteed Industry Shr: Trusteed N Y Bk Shr: Trusteed Am Bk B CHICAGO PRODUCE. HICAGO. June 24 (P.—Poultry, live, 22 e ey T 5 d less. 15; m: horn hens, ored. 17 Rock barebacks. pounds up, 16. less than 2 pounds, 14: roosters. 13's: hen " turkeys. 17 toms, 14; d\‘x‘cll. 412 pounds Creamery, spe- 33,: extras’ (97), 91y 9y | ° acked firsts. Potatoes. 158: 28 shipments Saturda bt Wlnon und Whites, "475; “North Dakoys Round Wnites, 0. 8. 'No. 1, falr condition. 30; Idaho Russets, U. 1 3 stock about stead: mand ‘and trading moderat umphs, Arkansas., U. 8. N bama, U. No. 1 1.45: Spaulding 8. No. An( decl! 1 uou lu ‘Louisiana hlumvhs No. 1. 11a-inch minimum. Ncrln Carolina Cnbblen . 8 h sl dlea hunflred':l;ht 8. No. sl bty o te; Bllss’ Tri- 1 FIRST MORTGAGE MONEY On D. C. and Nearby Maryland Real Estate Prompt attention given to all applications First Trust Loans For Purchasing a Home or RE-FINANCING EXPIRING TRUSTS NO COMMISSION CHARGE NO RENEWALS REQUIRED Eans Henthiy Fayments Pk ©49 NINTH STREML, W Simms Petroleum Votes Liquidating Dividend of $10 By the Associated Press, NEW YORK, June 24.—Directors of Simms Petroleum Co. today declared a liquidating dividend of $10 a share, payable July 5 to ‘stock of record July 1. The distribution was in connection with the sale of the company’s sub- sidiary, Simms Oil Co., to Tide Water Oil Co., which has been effected. Additional dividends, liquidating the entire amount, will be paid from time to time as funds are received in ac- cordance with the terms of the sale, the company stated. ‘Wesson Oil & Snowdrift Co.—Com- mon share earnings, nine months end- ed May 31, were $3.36 vs. 71 cents. ] B. & O. Loss Totals $3,825,752 in Year But Revenue Gains By the Associated Press. BALTIMORE, June 24.—A net loss of $3,625,752 after fixed charges was shown by the Baltimore & Ohio Rall- | road for the year ended last ecember | 31, according to the annual report is- sued to stcckholders today by Daniel Willard, president of the company. The report pointed out that the deficit was registered after a charge to expenses of $7,583,759 for deprecia- tion and equipment, Operating revenue increased $3,747,« 14230 over that for 1933. Operating expenses totaled $99,337,784 and were $8,968,084 greater than those for 1933, Operating revenues for 1934 was $135,539,395.28. & (THE BALTIMORE AND OHIO RAILROAD CQ, ! SUMMARY OF ANNUAL REPORT FOR YEAR 1934 HE Annual Report of the President and Directors for the i 1934 is being mailed to S tockholders of record. {This yeport summarized in part shows the operating results and other matters of fnterest as follows: CONDENSED INCOME ACCOUNT Operating linnu..:}..um.nm Operating Expenses. Net Operating Revenue........ $ 36,201,611.16 fTanes, Equipment & Joint Facility Rents, etc. Compared with w = 7 ’l”.fl?."],i’f 99,337,784.12 () Increass (D) Deerease $3,747,142.30 8,968,083.71 ) $5,220,941.41 12,523,671.70 3 Net Rallway Operating Income § 23,677,939.46 Other Income from Interest, Ronts, etc. (Net) Income Available for Fized Interest and Other Charges........ Totesest and Other Fixed Charges. Net Income or Deficit., 5,109,571.47 " 38,669.78 . §28987,510.98 32,613,262.96 .3 382575203 $5,132,991.90 D 1.102,067.52 CQNDENSED BALANCE SHEET Afflhnod Cmpamu ‘ANl Other Investments. Current Awets Cach 3ad fgiedal, Dopatis.. Material and Supplios. s ..v s, AN Ot e ov oo Total Curvent’ Aufi, . Gepital Stock: Preferred Stock. Common Stoek. Total Capital Stock ! § 931,182,267.59 Ty 5 90,743,557.19 ¥ - 1”7.!6u\l_v nfi.fi,m,oomn.u 30,711,493.69 4,856,747.01 ,215,569,128.28 $15,1%5,509.89, Unmatured Interest Bearing Obligations Bonds and Other Obligations Issued or - Assumed . med Obhz-uon- of Opr ubsidiaries Capitalised Leasehold: Total Unmatured Intesest B Current Liabilities: Audited Accounts and Wages Pa; Accrued Interest Charges. All Other. . Total Current Liabiliti Deferred Liabilities And Unadjusted Acerued Depreciation—Bquipment. Inter-Company Non-negotiable Aceoun. Al Other.......ce... “Fotel Deferred Liabil BEVIEW OF OPBRATIONS Operating revenues increased $3.- 747,142.30, or 2.84%, over 1933. enue from freight traffic increased $2,918,167.45, or 2.57%, while reve enue tons earried incressed 5.37% and revenue tons one mile increased 422%. Revenue from carriage of pastengers 3.56%, while passengers passengers carried one mi 9.34% and 7.06% respectively. The inerease in passenger business is due, §n part at least, to improved service and the more comfortable mode of transportation afforded in air-con- ditioned coaches. Other tramsporta- tion revenue from carriage cf mail and express and other sources in- ereased $479,738.12, or 5.57%. ‘The total opersting expenses was $99,$97,784.12, an increase of $8,968,- 088.71, or 9.92% over 1933. The total maintenance charges was $39, $22790.37, an increase of $4,871 770.51, or 13.94%. The increase in maintenance of way was $844,935.31, and in maintenance of equipment $4,026,835.20, of which latter $1,630,« 705.06 was due to increased charges account of depreciation of equipme: effective July 1, 1933, and the re- mainder to larger expenditures in the general repair of equipment. Trans; ion espenses increased $3,674,057.44, or 8.39%. The largest single item of increase In transpor- tation expenses was for fuel for loco- motives of $2,395,788.56 caused ehief- By by the increased price due to ap- phieation of code regulations under the National Industrial Recovery Aect. INCREASED EXPENSES In addition to the expense of Bandling the inereased traffic of the year, the m:pomm faetors bearing on the -punm‘ costs of the year were: increase in cost of fuel due to inereased price (approximately) $3,400,000; inerease in prices paid for materials (conservati l, mated) $1,000,000; increase in rates of pay incident to restoration on ’uly 1, 1934, of 2% % of the 10% theretofore deducted, $850,000; im- creased chasges for depreciation of equipment, $1,690,000. beine = total of $5,880,000. On July 1, 1934 there was restored 3% % of the 10% deduction in em- loyes® eompensation that had been f- effect since February 1, 1932. On January 1, 1935, an additional 2% % was restored and on April 1, 1935; the full 10% was restored. It mated that the inerease in expes for the year 1935 over 1934 account of the restoration of wages to the foll basie rate will be $4,500,000. NET INCOME Net revenue from railway opers- #Wons decreased $5,220,941.41, or 12.60%, and after deducting charges hr railway tax aem- and charges joint facility squipment nulll, there mllnd u! 677,939.46 as net railway operating income. There was an increase in other in- eome .f ::7711109 and a net de- from income of $863,62661, principally in interest eharges. The net deficit for the year was Sl 825,752.03, which was after rge to expenses of $7,585,759.43 epreciation of equipment, indi- cash n from the atlons of the year of §3,758,007.40 ::“-u- of interest and other . v SO 27 43, eering “Obligetions.. able..$ 9373,386.46 Credite $ 85,378,36549, ! !9 ,054.4 . 6358 CHANGES IN CAPIDAL ACCOUNT ‘There was 2 net deesesse in the Company’s investnent of 96,343, 548.54, sceounted for by net redue- tion in property investment of $4- $54,767.21 for retirement of obsolete equipment and of $493,781.33 in other investments, due to the revalustion, readjustment, and tranfers of sc- «ounts. There was a net ineremss in unmatured interest bearing obli= gations outstanding of $6,679,414.65 oceasioned by the retirement of some and the refinancing of other obliga« tions. Corporate surplus shows « decline for the year of $8,179,535.08 due to the deficit for the year and various adjustments of investment assets and aceounts heretofore mene tioned. Duc to financial stringency end continuance of depressed business conditions, eapital expenditeres for additions and betterments to road property were restricted to pressing Decessities and net charges for the year aggregated $279,222.41. Under arrangements with the Federal Emergency Administrator of Public Works and through the er tion of Equipment Trust Series “H™ for $1,900,000, the Company will ae- quire equipment estimated to cost $2,405,090, consisting of 820 steel gondola ears, 1 Diesel electrie loso- motive, and 2 eight-car stream line passenger trains, ome to be eon- structed of Cor-Ten steel and the other of aluminum alloy. FEDERAL LBGISLATION During the year the Federal Co- ordinator of Transportation has undertaken extensive and inte of various railroad a s of which have been very e luminating and informative and should be productive of much good. With respect to competing forms of transportation, the Coordinator in his report of Janwary 21, 1935, statedt “Highway motor earriers and air carriers are not subject te Federal regulation of the kin now wnder diseussion, and wate: carriers only in part. The grea defect in present Federal regulae tion of transportation is, theres fore, that it does not .uvlr th field. It subjeets the rail to most rigorous supervisia puts no similar restraint on come petitors.” ‘Also in the report the Coordinsto? tecommended that the Congress enact legislation to bring about the desired result and in submitting the report said: “The bills for the regulation of water and motor carriers we re- gard as vital. Upon their early en- actment depends the preservation and development of a healthy, adequate, coordinated wystem of transport for the Nation . .. ,” and urged speedy adoption of legislation. SHAREHOLDERS ‘At the end of the year there were 44,170 registered holdevs of the Com- pany's stock with an average holding -( 71 shares, and thc sympathetie peration of each and every share- ioldcr in the solicitation of business for the Company’s lines is earnestly desired and respectfully dofm!m'aninmddtdrmrp mldo- and support of officers the Company's affairs throughout o