Evening Star Newspaper, June 26, 1935, Page 11

CURB LIST GOES 10 LOWER LEVELS Moderate Pressure Centered on Oils, Utilities and In- dustrial Specialties. By the Associated Press NEW YORK, June 26.—The Curb market took on a tired appearance after a forenoon marked by general| firmness today. Prices were pulled down by a slight Increase in pressure, mainly against ofls. utilities and industrial specialties. | A better showng was made by stocks ‘like Pan-American Airways, Pittsburgh Plate Glass and Sunshine Mininz, which gained fractions to a point higher. BONDS ON THE CURB MARKET. DOMESTIC BONDS. le\ Low. Clowe Alabzma Pw 4135 Alabama Pow 55 983, it & L 6 AmRon M’ Am Seating 6 Appalach Pow Aplch Pw fis A Arkans P & I Asso r 51 1‘ 06 Atlas Ply Beldn Lo fis 10710 s 10034 101 i01a 41y 10. 10054 1 2 16 o 00 ‘aary i Eoust Guif Ho GG 6 Hous L & TR 55 Indiana Ser 5s Intersta Pw 55 Intersta Pw s P 8 nierst pS 415 dnves co 55 ¢ | Hollinger G(165¢) By private wire direct to The Star. Stock and Sales— Dividend Rate Add 00. High. Low Close Acme Wire vte (@12%c)..... 1 14% 14% 14% AeroSupply (B). 1 2 2 2 Air Investors Inc. 10 1 Ala Powr pf (6).. 108 8416 Ala Pwr pf (7)... 60s Allted Mills Inc.. 33 Alum’n Co of Am. 3008 Alum'n pf (1%)..200s Aluminum Ltd... 1 Am Book Co (4).. 20s Am Capitol pf(33) 1 Am CitiesP&L(B) 10 Am Cynam 40c B. 67 | AmGas& E 1.40. 13 AmG&Epf (6).. 50‘106 AmLt&Tr1.20.. 25 11% | Am Light & | Trac of (1) | Am Maracalbo Am Meter Co. Am Superpower. Am Sup'pw 1st pf Am Sup'pwrof... Am Thread pf 25¢. Angostura (120¢) | Appalachan Eles Pwr pf (T)... Ark NatGasA... | Ark Nat Gas cu pf | Armstr Cork(50c) | Art Metal W(40¢c) Asso Elec Ind Ltd (a21?se | AssoG& E (A Asso Gas&E $5 pf % 64'5 74 18% 52% 28 28 106 106 10% % 2 23 1 L) 1508 12% 17 1% 2 60 417 1 4 4 57 208 974 12 534 | Autas Corp.... Atlas Corp war. | Atlas Cpf (3)A.. ! Auto Vot Mch 50¢ Ax-Fisher 3.20 A. 110s 51 | Bellanca Afrcraft 30 54 Bickford's Inc (1) 1 Bliss Co (EW)... Blue Ridge Corp.. | Bower Roli R (1). Brazil Trac L&P.. Brill Corp (A).... Bridgeport Mach. Brown Forman. Bunker H|II&Sul Burco Inc. Butler Bros. Cable El Prod vte. Can Maiconi . Carib §; Carrier Catalin Corp 8 T Celanese pf (7).. 1008104 104 Celanese 1st pf(7)100s100% 100 Celluloid C 1stpf 10s Cent Hudson G & Ectfs (80c).. Cent States Elec. . Charis Corp (1) Chi Riv&M (1%). 5% 2u= T 380 13, 6l dlcnu 104 100 7l 135 | 14 141 27 15 15" 31's ~ Cities Servie Cities Service pf.. Claude Neon Lts.. Clev Elec Lllu (2). Clinchneld Coal | Colon V1. | Columbia Gas & Elec cv pf (5) Com'with Ed (4). Com with&So war Como Mines.. .. | Conipo Shoe Mach s te.(50¢). Cons Aircraft Cons Copper.. Conms Gas of Balto (3 60).. Cons Royal (20¢). Celsn e Cord « Corroon & Reyn. Cosden Oil (Me).. Cosden Oil Me pf. Crane & Co Cramp Wm Creole Petroleum. Crocker Wheeler. Croft Brewing Crwn Crk Int A 31 Cusi-Mexicana M Davenport Hos(1) Derby U1l & Ref .. Distlllers C-Seagr Distilled Liquors. Doehier Die Cast. Dow Chemical 2) Draper Cp (72.40) 40 Driver Harris (1), Duval Tex Sulph Eastn G&F A pf 6 East'n States Power (B). Elec Bona&Share. Elec Ba&Sh pf 15) Llec BA&Sh pt (6) Elec Pw & Lt opt war Elec Sharehold'g. Elec Share pf ww . Emp G&F 7% of. European Elec Ltd (A)(60c) Equity Corp. . kx-Cell-O A&Tool Fairchild Aviat'n. Falstaff Brewery. Fedder Mfg (A). Fiat rets (a813%¢) Fidelo Brewery Fisk Rubber Fisk Rub pf (6).. Ford Mot (Can) (A (13).... Ford M Ltd al7.7¢ Garlock Pack (1), Gen Elec Ltd reg (b30%'s¢) 1 Gen Invest Corp.. 1 Georgia Pw pf (6) 50s T Glen Alden C (1) 12 1 Goachaux Sug(A) 2 254 | Godchaux Sug (B) 1 9 Great Atl & Pac i Tea n-v (16) Great Au & Pac Tea Ist pf (7) 508126 Greyhound (Del). 9 487, Groe Str pr vte 1 Guardian Invest Guif Ollof Pa.... | Hazeltine Corp(1) Hecla Mining. ... Heyden Chem (11) Tos 64 4 831, 1z & 13 8 59% 5 1008 25 1 6 18 1 4 o4n 3 167 1 25% 1 % 4 i 1008 67t 14% 108128 128 128 12515 125% 48 1 20 1 v 15 NEW YORK CURB MARKET THE EVENI Stock ai Dividend Rate Add 00. High. Low Close Kreuger(G)Brew. 2 10 9% 10 Lake Shore M(t2) 10 51% 50% Lane Bryan: pf(7) 50s76 176 Lehigh CEN(50c) 4 6% 6% Libby McNelll&L. 2 6W 6% Lone Star Galbe. 1 5% 5% Long Island Light DLA(T).. 7215 72% Louisiana L&Ex Lynch Corp (2).. McCord Rad (B).. Marconi Intl Mar (a174-5¢).... 1 Maryld Casuaity. 3 Mayflower As (2).100s I!i Mich Gas&Oil... ' 1 Mich Sug pf...... 2 Midland Stl Prod 2 Middle Wst Ut (d) 20 Mock Jud Voe (1) 1 Mohawk Hudson 1st pf (4)....2758 Mohawk H 2d nf 200! 29' Molybdenum. 0l Moore Corp L pfA (7) 105137 137 Mount Prod (60¢) 4 54 5% Murphy Co (1.60) 1 96 6 Nat Bella He 6 1% Nat Contaiver (2) 50s 2 Nat Fuel Gas (1). 1 Nat Leather. 2 NatP& Lpf Nat Sugar NJ (2) Nat Transit (80c) N J Zine (2) | N'Y & Hond (11). 200s 51 | NY Tel pf (6%).. s117% | Niag Hudson Pwr Niagara Hudson Pwr A war .. Niag ShrstMd)B. Niles-Bem-Pond. Nipissing (a2%).. 1 Nor Am L&P pf.. 100s Nor Am Mate (1).100s Northam Warren conv pf (3).. thern State; Power (A) Northwest Kng Novadel Ag (2).. Ohlo Oil cu pf (6) Oil Steks Litd t10e Overseas Secur... Pac Gas & Elec 1stpf (1%4). 1 Pac Light'g nns) lwu.m: Pan-Am Air (1). Pantapec Ofl. . P Parke Davis (t11). 7 Parker Rust P(3) 508 Peninsular Tel...2008 Peanroad Corp Pepperell M{g Perfect LI e | Pnoenix Secur... | Phoenix Secur pf. Ploneer Gold Mines Litd (80c). | Pitts Forge Pitts& L E Pitts Plate G1(12 507 76 6% 5% 40s 16 1 1 TH% 13% % 10% 661 2813 10% 137 5% 96 1% 20 17% i 68% 23 9 62 50% | 1%, © 3008 1 20s | | Nor | whether it is intended or not, may | stimulate business by removing the | tax. NG STAR, WASHINGTON, D. C. OIL CHIEFS FIGHT DROP IN GASOLINE Pleased by Way Market Has Behaved in Face of Obstacles. By the Associated Press. TULSA, Okla, June 26—Fighting off a tank car gasoline decline in the face of bad weather and suspence oc- casioned by the Federal tax situation, the ol industry was optimistic this week and hoped for improvement in the refinery market. Leaders were pleased with the way the gasoline market has been hehav- ing in the face of obstacles. Wecek-end weather generally. has been bad and jobbers have been buy- ing hand-to-mouth with the fain hope that Congress would not renew the Federal tax which expires June 30. Despite this, the market has held up and the quantity of gasoline sold below the accepted price level has been negligible. The natural gasoline division had a price advance during | the week. The standard grade, 26-70, advanced 3 of a cent to bring it to 3% on group 3 (Oklahoma) freight basis. Third grade gasoline was un- changed at 43%-7: and relulnr. also unchanged, was 5%-%. Kerosene was weak, the market sagging to 3%-'4 for standard grade at some refineries. This is a drop | of 35 of a cent during the month. Better motoring weather is expected to bring a sharp upturn in consump- tion and force the jobbers to buy. Settlement of the tax question, fear from jobbers’ minds of being caught with tanks of gasoline on which they needlessly had paid the . Crude oil production continued steady except for a flurry in Cali-| | fornia, - where some producers were | | Potraro Sugar. Premier Gold (1. Puget Sound P& L3$50t.. 2008 Puget Sound P& L $6of.. 125a | Pyrene Mfg Co. 2 1 Rwy & Lt Secur..100s Rainbow Lum (B) 5 itelinole Store: Reliance Corpé Royal Typewriter St Anthony Gold. St Regis Faper. Sentry Safety Con Shattuck Uen Mip Shawinizan Wat & Pw (50¢). Shenandoah. Shenandoah pf. ... Snerwin-Wii (8). Smith Corona vic. South Am Gold & Plat (40c). { South Penn O 1.20 Southn Calif Edis pf (1%).. SoCal Ed B (17 Southn Calif Edis EdpfC(1%) Spieg-M-S pf (¢ Square Deal A Square Deal (B). Stand Inv cum pf. Stand Oil Ky (11) Stand Pw&Lt Stand Stiver Sterling B (b7 l")imh Stutz Motor. 4 Sunray Oll. Sunshine M (1.20) Swift & Co (150¢) Swift Int) (2) 9 | Swiss-Am Elec f 150s ! Syracuse Light 6% Dt (6).... Tampa Eiec (2.24) Lecnnicolor Inc. . Teck Hughes40c) Texon O&Ld6uc) Texas Gulf Prod. Thermotd cum nf. Tob Prod Ext1ve) Trans-Lux Daylite Ple Sn (20c). | I'ri-Contl C war. ., | Tung-Sol Lamp... | Union Gas (Can) (a10c). Unit Air war. . Unit Corp wa Unit Founder: Unit Gas Corp. Unit Gas C war. Unit Gas Corp pf. Unit Lt&Pw (A). Unit Lt & Pw pt. . Unit Molass Ltd (a6 3-5¢) Unit Profit Shar g U S & Intl Secur., US & Internat’l Sec 1st pf ww US Play C (11).. Unit Ver E (i40c) Utah Pwr & Lt pf ($1.163:c) 1008 100 32% 108 1 9 2 a3 | Hudson Bay M&S. | Humble Ofl (1). Midland \'RR .)( id Bt Pt Aias A Hygrade Food 1 Hygrade Svl (2).. 558 LI Pw& Lt 36 pf.. 6508 27 Imp Oil Ltd eoupon (150e). 1mp Tob Can t35e 26 Utllitles P& L. .. Utilities P& L pt. Uttlity Equities . . Utility & Indus ot Venezuela Petrol. | Waco Atrerar. ... w er (Hiram).. 18 508 1 1 23 3 a insurance Cu nt North Am (2) Int'l Petm (t1%). intl Products. Irv Air Ch (402) | Joras &Nau. .. 47, | Kirby Pet (al0c). 10813 263, & Neb 'Pw i r):u'ner Bros ax1y a8 923, 1063 PEELEREE RIRIIITNIZ2; | Klein (DE) 't1). | Kress (SH) spec bt (60c). Walker (H)pf(1). W Va Coal & Coke | Wright Har t40c. R Yukon Gold. ... @ Dividend rates in doliars pased en the last quarterly or semi-annual payments, tAnuual rate—plus axtra. taccumulated dividends. aPaid this year. bPaid last | year. dCompantes reported in receiver- ship or being reorganized. xEx Gividend. 174 1 25 41 4 b ) Sh"War a1 B | Sheft St1_51as Sherida Wyo ™t E P& L 6 105% 105% 105% 107 10635 1063 104% 11 104% lm'- a0 SEREIZZER [ BAEITT FFEEFE EFEF I % = 02 2 £ : 94 03Y 1063 1048, 1 % B55% 3 Soor = i : mu,.'cmsed at 74.54 to the pound, as com- 3 b e 4oy 013 101153 10 Bo* Tga" nzu' {2 | York Rwy | west Ba Trac Bg 160100 | Wes Tex U 5s ik T T 5 mu. 10434 32 104% 1043, i 971 105" 103 FOREIGN BONDS. | Buen_A Pr 7s a6 Cen B Ger 6is A Bk C B | Wise P&L 55 F is & rants. xw—Without war- Wi—When issued. st Nezouamity impaired by maturity. ftCompanies reported in reecivership. —_—— DOLLAR UP FURTHER IN LONDON DEALINGS By the Associated Press. LONDON, June 26. -Tbe United States dollar quotation closed officially on the foreign exchange market today at 4.9313-16 to the pound, as com- pared with the overnight New York rate of 4.94'%. The French franc pared to yenerdnl close of 74.63. PARIS, June 2! (#).—Three per cent rentes, 79 francs; 41 per cent rentes, WEDN ESDAY selling below the posted price. Far West. matters, however, seldom ef- fect the industry except locally. NEW YORK BANK STOCKS NEW YORK. Ju 268 (PN k Security ‘Deaters’ "Associationr e Yo (Quotatiops as of 2 o'clock. 82 Bid ) k of Man (1%). @) ] Bankers' Tr .60) Menutacturare’ Netl gity 1) ust (8 Public_(112) Title United St Tr *Including extrs FEDERAL LAND BANKS NEW YORK, June 26 (#).—Federal Land | Bank bonds. (Quotations as of 2 o'clock.) Jan 1956-36 .. 1024 5 Jan 1955-38 J & 31 TU. 8. TBEASURY NOTES. (Reported by Chas. D. Barney & Co.) Rate—Maturity, 1yes Aus. 1 FRE!GHT LOADINGS ORK. June 26 (7 —Revenue fl’rllhl (lrlflldin:( on raliroads reporting for week ended June 2 included: rev. week st year Ve June 22 04,604 9. Penpsylvania ntral Pacific Ce Missius) 1935. STEEL RATE HOLDS STEADY FOR WEEK Demand . Shows Stability Despite Seasonal Lag, Iron Age States. By the Associated Press. NEW YORK, June 26.—Demand for iron and steel shows “staying powers” in spite of the seasonal tendencies to dullness, said Iron Age today in its weekly summary. Present indications are that minimum operating levels for the Summer are being approached, it added. On the basis of the publication’s estimate, steel productdon is holding at 38 per cent of capacity, unaltered from a week ago. “Caution continues to cause many buyers to allow their stocks to dwindle requirements,” asserted the review, “and it is possible, therefore, that the | current rate of production is not fully abreast of consumption. Price Doubts Eased. “Doubts as to the stability of prices are diminishing with every day that is added to the post-code period, and in certain centers, especially in the Chicago district, mill bookings have taken a contra-seasonal turn, moving upward at a time when a further decline was expected. “The automotive industry continues to be the principal threat to price | maintenance. Though motor car | makers are careful to make it clear that they have no desire to precipi- tate a wide-open break in the market structure, they argue that their po- sition as large tonnage buyers of flat- " | rolled products entitles them to ad- | justments of both prices and extras, which, they contend, can be made in |an orderly way without disastrous | consequences. | “Initial steel orders for 1936 models will be placed by automotive in terests within the next fortnight, but ' rather than purchase their current | | Buper FINANCIA heavy buying is not looked for before August. C. & O. Order to Help. “With the flow of steel to the motsi car industry diminishing, mills will soon benefit from some ofIsetting ton- nage as the result of the purchase of 5,125 freight cars by the Chesa- peake & ‘Ohlo. “The mills will also get a lift from construction orders. Though consid- erable uncertainty prevails as to pro- posed grade separation projects be- penditures for materials for work re- lief, there has been an encouraging increase in- the number of pending | projects that are reaching the con- | tracting stage.” Steel scrap prices, as measured the Iron Age average, remained un- changed. INVESTMENT TRUSTS NEW YORK, June 26 (p.—New Security Dealers’ Association Yu'k (Noon quotations.) Admin Fund w w Am _Bankstocks Am Business Shrs . Bullock Pund Asked 1L 104 1315 Bid ) | Corp Tr Accum Ser.’ | Gorp Tr Accum ger mod. | Depos Bk €h Tivestors Pund of Am 156 8% Maryland Pund Inc & Tr. North Am Bond Tr Ctts . | North Am Tr Shares Nor Am Tr 8h 1915 Nor Am Tr Sh 1 Nor Am Tr Sh 1 Plymouth % Quarterly Inc Shrs Eelected Am 8h s Selected Am Sh Inc <% 1 Selected Cumul Sh Selected Tncome Sh | Bpencer Trask Pund Stand Am Tr Shrs Stand Uil Ine Super of Aj Super of Super of Super Super A% 148 of of of Am Bupervised Shrs. .. Trust Pund Shrs Trusteed Industry Shrs usteed N ¥ Bk Trusteed Am Be - 147 4ip 128 cause of restrictions imposed on ex- | L. 2 A1l ELECTRIC POWER OUTPUT MOUNTS Associated Press Index Rises Again to Year’s Peak Set in January. By the Associated Press. NEW YORK, June 26.—The Asso- ciated Press adjusted weekly index of electric power production advanced | 0.5 of & point for the last week to | 98.9, a level equal to the year's high | mark registered for the weeks of Jan- | uary 12 and 26. The advance reflected a slightly | more than seasonal rise in power out- put and sent the current 98.9 figure above the same period of 1934 when the index stood at 96.7. The index. based on 1929-30 as 100, is adjusted for seasonal and long-term trends The range of recent years follows: 1935, 1934. 1933 High 98.9 14 91.9 Low 949 919 802 The Edison Electric Institute to- day placed the power output in the United States for the week ended June 22 at 1,774,654,000 kilowatt hours. This was 1.8 per cent over over the previous week and 6.0 per cent over the corresponding week of 1934. The margin of gain over 1934 | was the largest since the third week in February. For the week ended June 15 the gain over 1934 was 4.6 per cent. An increased power output last week over the previous year wac shown in every section of the coun try. The percentage gain was New England. #7: Middle Atlantic, 6.7 Central Industrial, 3.3;: West Central 45. Southern States, 6.9: Rock: Mountain, 28.7, and Pacific Coast, 3.2 Southern New England Telephone Co.—Number of telephones in servier by company on June 1 totaled 300,018 largest number since July, 1931; sta- tion gain during May totaled 2,241 Drive far — drive fast — without a worry With Conoco Germ Processed Oil in your crankease, you KNOW the strain won’t hurt your motor! Tests prove this new alloyed oil has 2 to 4 times greater film strength than plain mineral oils and resists heat better! HERE'S THE PROOF ... On July 4th or week-end and vacation trips, you'll want to drive far and get there in a hurry. And you don't want that nagging worry of “I wonder if this speed and heat will hurt anything in my motor.” You can't always be sure when you use plain mineral oils, for they have little film strength and oils over-refined by new cleansing processes have even less. Moreover, as motor heat goes up, these oils rapidly lose film strength. Film strength is the load-carrying ability of an oil, the quality that keeps bearings and cylinders from wearing out. Lack of film strength results in costly damage. You can drive without a worry when you use Conoco Germ Processed Motor Oil! It has 2 7 4 times greater film strength than any plain mineral oil. Heat does chart at left.) mmmw CONOCO GERM PROCESSED MOTOR OIL ve#srs: PLAIN MINERAL OILS Note that as heat increases, the plain min- eral oils continue to lose film strength, but that above 225° (Minimum Summer crank- case temperature) Germ Processed Oil's film strength is not affected by heat. Tests made with Timken machine. 84.45 on- London. 7447. The dollar was quoted &t 15.09%. > not lessen this advantage. (See Supervised road tests—over good and bad roads, at low and high speeds, in all kinds of weather—give practical proofthat Germ Processed” Qil protects motors better. In every test, gravi- metric measurement of motor bearings showed that Germ Processed Oil prevented wear far bet- ter than plain mineral oils. Tested in a fleet of cars equipped with the new alloy-metal bearings used in many 1935 cars, a high-quality plain mineral oil permitted 45% more wear on connect- ing rod bearings than did Germ Processed Oil. Conoco Germ Processed Motor Oil is the first alloyed oil—alloyed, much as metals are, by add- ing concentrated oily essence to highly refined oil. It is the only oil made by the Germ Process. It is the oil with the “Hidden Quart” that stays up in your motor and never drains away! Say “O. K.—Drain"~fill with Germ Processed Oil. Drive far—drive fast—without a worry! ERM PROCESSED PARAFFIN DASE MOTOR OIlL