Evening Star Newspaper, June 27, 1935, Page 17

MOST CURB SSUES REGISTER LOSSES Scattered Sections Receive Support, but Others Go to Lower Levels. By the Associated Press. NEW YORK, June 27.—Scattered sections of the Curb list received sup- port today, but most of the leaders fell back a bit. Most prominent among those mov- ing against the main trend were Montgomery Ward A. up 1: Distillers Corp.-Seagrams, up 7g; Great At- lantic & Pacific, up 1%; Hiram Walker, up 33, and Electric Bond & Share, up 'i. Closing iosses ranged from fractions to more than a point in Aluminum Co. of America, American Cyanamid B. American Gas & Electric, Gulf Qil, Lake Shore Mines, Newmont, Pittsburgh Plate Glass and Swift & Co . BONDS THE CURB MARKET. DOMESTIC BONDS Hith. Low Clo: 103% 871 Alab: Pow Alabama Pow Aluminum Aluminum L m El Pow Amer G&E lwl‘ 1.»1‘ 1 7 e 1u41 Am Roll il 5 9834 Am Seating (4R Appalach Pow 55 '56 A Asso T 5138 C ‘44 cod - aldn Lo 65 38 xw 210815 2 1084 Conn LP 35 D Conn Riv P 35 A Consm Pow 4izs Consm_ Power 5t Cont GAE_58 A '5i Crane Co 5s '4 40, ~ 10314 1031 Crucible Steel 5! g 46 21007 1007 1047 10413 033, Gen WokE Georela P 5e 7R Glen Alden C 4( 3 Goeb B filas A 33 Grand Tr W N Grand_Trnk N’:k Gulf 8t Ut 58 . Culf SOt s B ! flas ] Hous JAp 4l D 2 Hous L& ¥ 41 Hyde Pw Hysrade Fd 6 H Erage Fd 5 A Ser ! 3% A Indnp P&L 5: Ind H E 5% nt Pw Sc 7t nternatl Salt L 1: ad Manitoba Pw 5! Mass Gas = 1 2Mass Gas 3 a6ty a9ty 3 04 “ 104 01% 10114 10815 1081 10415 10414 9915 091 Qiinn pat, §15 ‘M!u Power 5s 07 107 104’: 1043% 01% 91% 41 ac Pw & L 55 A CP&L 4l Seo: S5 @aaa53553 POSSSD SIWIFF2ZE3R @y 107, | Brit Celan By private wire direct to The Star. Stock and Bales— Dividend R: Add 00. High. Low. Cless. Adams Millis 1stof (7)....1004110 110 110 Acme Wire vic (a12%¢)....0 1 148 Afnsworth (a1%). 1 27 Air Investors lnc. 1 1% Al Pwrpf (T)... 408 7215 Allled Mills inc 18% Alum'n Co of Al Aluminum Ltd. Am Beverageé Am Cty P&L A(3) wo- Am CitiesP&L(B) 2 AmCynam 40c B. 45 2: Am Founders 1stpf (B).... 50s 25 25 25 AmGas&E 1.40.. 18 28 274 27% AmG & E pf (6).. 25s105% 105% 105% Am Laundry (40¢) 1008 15% 15% AmLt&Tr120.. 12 11 1 Am Light & Trac pf (1%) 23 Am Maracaibo. Am Meter Co. Am Superpower-. . Am Sup'pw 1st pf Am Sup'pwr pf... Angostura (t20c Appalachan Elec Pwr pf (7). Arcturus Radio T Ark Nat Gas cu pf Armstr Cork(50c) Art Metal W(40c) Asso Elec Ind Ltd (a21330) 2 oees As30G & E (A) Atlas Corp. Atlas Corp Auto Vot Mch Efie Babcock & W1l 40¢150s Bellanca Aircraft Blue Ridge Corp.. Bower Roli R (1). | Bridgeport Mach. 27 1% 9 250- 12% 214 8% 46 u 231 2w e ADwe 3% 224 :im Ltd ret; Buff N&EP pf 1. N Burtker Hill&Sul. 350 Butler Bros...... Carib Syndica Can Marconi. 215 A | Gray Tel P Sas0c Carnation Co (1). Carrier Corp. Catalin Corp. | Cellulold C 1s nf 3 | Cent Hudson G & Ectfs (80c).. 1 Cent States Elec.. 1 Cent States Elec cv pf (new)..100s Childs Co pf. Cities Service Columb O&G vtc.. Columbla Gas & Elec cv pf (52008 Com’with Ed (4). Com'with&So war | Como Min Cons Aire Cons Copper. Conms Gas of Balto (3860).. Cooper Bess pf A. Cord Corp Corroon & Reyn. Cosden Oil (Me). Crane & Co.... Crane Co pf ($1). | Creole Petroleum. Crocker Wheeler. Crown Cent Petr. Cusi-Mexicana M. Dictograph Prod. Distillers C. Doehier Die Dow Chemical (2) Duval Tex Sulph. Eagle Pitcher Ltd | Eastn GEF A pf 6 Edison Bros (1).. Electrographic... Elec Bond&Share. Elec Bd&Sh pf (6) Elec Share pf ww Equity Corp. | European Ele Ltd (A)(60c) European Elec Ltd db rights | Ex-Cell-O A&Tool Falrchild Aviatn. Falstaff Brewery . | Ferro namel 60c. Fidelio Brewery. . ¥isk Rubber..... Ford Mot (Can) { (A (1%) | Fora M Ltd a17.7¢ Froedtert Gr& M conv pf (1.20)1508 Gen Alloys Gen Elec Ltd reg (b30%¢) .. us Gen Fireproof. Gen Invest Corp. . Georgia Pw pf (6) 501 Gilbert (AC).... 1 Glen AldenC (t1) 5 | Globe Under (50c) 3 Goldfield Consol . 15% % 70% TRen 1315 ki 1% * 17 6% 27% 8% 15% 15% 14% 4% 144 1'- 15 Great Atl & Pac Tea n-v (16) 50120, Greyhound (Del). 7 48% Gulf Oflof Pa.... 17 64% Hartman Tobacco 5 1% Harvard Brewinz 1 3 Hazeltine Corp(1) 5 Hecla Mining.... 4 Hollinger G(t65c) 3 | Horn&Hardt 1.66. 7 | Hudson Bay M&S. 13 Humbl Hyg % | Hygrade Syl (2).. 2! 11l Pw&Lt 36 of.. 2008 111 Pw&Lt 6% pf.. 508 1mp Oil Ltd coupon (t50c) 25 Imp Tob Can t35¢ 30 Indian Territory Illum Oil (A) 2 4 1 12915 129% 484 8 s | Indizn Territory Tlum Oil (B) Indiana P L (30c) Insurance Co of North Am (2) | intl Hydro Elec System cv f. 25, Int’l Mining a30¢c) 6 Int'l Petm (11%). 65 Intl Util (B)...., 32 Irv Air Ch (40c).. 5 Ital Superpwr(A) 1 Jones & Laugh St1100s Kirby Pet (al0c). 5 Klein (DE) (f1). 1 Kleinert Co. . 1 Koppers Gas & Coke pf (6).. 1008 Lake Shore M(12) 12 Lerner Stores (2). 4 Libby McNeill&L. 12 Long Island Light & 2 3% 28% | 13% 106 165 @ | Sesal Lock & H. 1 3 \!‘ | 7 V 1014 10\‘:‘ s 72| smith (A O) f I lg\’ Swift & Co (150¢) 4| Swift intl (2).. THE EVE\I G STAR. WASEI\GTO\’ 'NEW YORK CURB MARKET Stock and Dividend Rate ASa D, High. Low. Close Long island Light OfA (T)....0 108 72 72 12 Louisians L&Bx.. 10 7 ™ Th Luecky Tigér t12e. p 3 8y McCord Kad (B)., b5, 5% Marconi Intl Mar (217 4=5€).su0 8% Maryl'd Casualty. 2 Mavis Bot (A)(d) Mead John (13)... Mem Nat G alle). | Michigan Sugar.. Mich Sugpf...... Middle Wat Ut (4) Midland Stl Prod, Mining Co (Can).. Minn Mining & Mg (80c)... 1008 Mohawk Hudson 18t pf (4)... 65% 65 65 Mohawk H 2d of.. 258 274 27% 27% Mont Ward (7) A. 808 137% 137% 137% Montreal HLt & Pw(1%). Mount Prod -suu. Murpny Co (1.60). % 84 29 14 7 W& 12% M 1% 18 16 P P T l‘i 29 5% 5% 1% 34% 17% K 67% 814 -3 60% Newm Min (a1).. 4 N Y & Hond (11). 600s 50% N Y Steam. 1 4 1 N Y Tel pf (6%).. 258117% 1174 1174 N Y Transit (30c) 1 3% 3% 3% Niag Hudson Pwr 8 6% 6 6 Niagara Hudson PwrAwar... 7 & & & Niag Shrs(Md)B., & 5 5 b Niles-Bem-Pond.. 2 22 22 22 Nor Am L&P ptf.. 1508 14% 14% 1% | Nor Am Utll See.. 2 1% 1% 1% | Northn P&L (50c) 4 6% 6 6 Northern States 13 12% 13 n n { Power (A) | Nortbwest kng 11 105 105 1 | Unio Power pt (6) | Outboard Mot (B) 2% 4 27% 27 27 Pacitic Eastern. .. 60.101h 101% 1015 383 389 ‘m, s 1% 44 43% 2% 2h 67 67 2 1 108 1 1 b | l 25 1 2% i | Pac Gas & Eles 1a | 151 pt (13%4).. | Pac Light'g pf(6) | Pan-Am Air (1)... | Pantapec OIl. ..., Parke Davis (11). Peanroad Corp... Pepperell Mfg (6) Phoenix Secur-.... Phoenix Secur pf. Ploneer Gold Mines Ltd (80c).... Pitney Bo P (20c) Pitts Forge Pitts Plate Gi(12) | Potrero Sugar.... 43- 2% 2% 67 2% 43 6 508 2% 43 4 9% 6 6o 3 3% 4 6 T 2% 1 25 1 l\ Prod Koyalty 23 13 | Puget Sound P&L35pt... T5s Puulaound P& LS6pt.. 1 ‘ Rwy & Lt Secur | Reiter-Foster. | Reybarn Co. Koot Refining. Hoot Ref ¢v pr pt. St Anthony Gold. St Regis Fap Salt Creek P (30¢) Seiberling Kubber Selby Shoe (2)... ted Indus Lot cfs 13,1008 L ind pre3is) 50s heundge (b3%c)s 1 Shawinigan Wat ‘ & Pw (bve)... Sherwin-Wil (3).. | Singer Mfg Ltd reis(a23 2-5¢) 508 | Smith Corona vte, | Sonotone Corp. .. | South Am Goid & Plat (40e). South Penn 0 1.20 Southn Calit Edis DfA (15).0.. Southn Calir Ed pf B (1%) Southn Calif Edis EdpfC(1%) Southn P L (30c). | Southland R 12uc. | Southwest Penn , PW& Lt (4).. 508 Square Deal A 2.20100s | Stand Brewing. 1 Stand Oil Ky ('l) 1 Stand Oil Nebr... Stand Stiver & L. ‘ Sterling B (b7%3¢) Stutz Motor. !smuv.n Machin | Sunray Oil.. Sunshine A (1.20) 5 1 4 1 34 3 5 Swiss-Am Elec pf 100s Swiss Oil (40c)... 3 Tecnnicolor Inc.. 42 } Teck Hughes(40e) 25 Texas Gulf Pred.. 3 Texon O&Ld (6uc) 1 Thermoid cum pf. 25s Tobacco & Allied | Btocks (k4%3¢). Tob Prod Extive) | Trans-Luz Daylite P1e Sn (2uc). Tri-Contl C war... Union Am Invest. Unit Chemical Unit Chem pt pf Unit Founders | Unit Gas Cor 508 5 Unit Gas Corp pf Unit Lt&Pw (A).. | Unit Lt & Pwpt.. | Us Elec Pw ww.. U 8 Foll (6uc) B.. U S & Intl Secur., U S & Internat’l Sec 1st pf ww Unit Ver E (+40c) Unit Wall Paper. . Utah Pwr & Lt pf ($1.16%¢) l(l(\n Utilities P & L. Utilities P & L pf 150- Utllity kq pf(3%) 50s M 3 W Va Coal & Coke 15 ‘Westmorel'd Coal 50s Wright Har 140¢c, 76 Yukon Gold... 35 1 Dividend rat dollars based en_tne Iast quarterly or semi-annuai Daymests. TABLUAL rate—pius extra. _gAccumulated dividends. aPaid ti year. bPaid iast year. dCompanies ported 1n vers ship or being reorganized. xEx dividend. 1 8 1 % 065, 10658 a6t il o 5% 03 10654 106 10618 1063 106% 1062 1097 101% 101% 105 " 101 q Tern Pub Ser 5s Texas Elect | York Rwy Bs 37 5 TS 822 101 bt 80221 '44 [YOrey B8>S px 350, SEFEEEEEE facht S 838322853352 02322 2233 W 1S ¥ Wiee "Ben s % Wis P.Cer A 08 5 F93% £ i S5 §3s52 & Gen Bk Co 6s B ‘51 cml-}:m» *31 s FE Ty T3 TSI 3323 Gr i AR SRERNEEINLARLZATES - A 331 2 Ww—With warrants ~xw-—Without ¥ - gl-New. " wi—When issued (stp)—Stampe Nezotiabilitsy impaired by maturity. {Companies reported in receivership. £ |LEAD OVER 1934 HELD BY COMMERCIAL LOANS By the Associated Press. Despite a weekly drop, total com- mercial borrowings from member banks of the Federal Reserve system in leading cities show a gain over the comparable 1934 period, when figures were about at low ebb for the de- pression. Their Holdings of aceptances and loans on real estate and for other “:z commercial purposes have undergone little change for many weeks. Aggregate commercial loans of the reporting banks in 91 cities compare as follow: Week ended June 10 Preceding Same week lllt ye 'AILURES GAIN-SLIGHTLY. NEW YORK, June 27 (P).—There | were 220 business. failures in the United States for the weel kendrd .Vune 20, compared 'lfi?’? in the preced: ing week and 233 in the like period myw mamw st | 355000 QUTRUT OF AUTOS LIKELY Year's Production Expeoted to Reach Highest Mark "Since. 1929, By the Associated Prese. DETROIT, June 27.—Out of a care- ful study of factory sales reports and advices . from distribution - units throughout the country, the leading motor car producers of the United States have concluded that the. in- dustry this year will assemble 3,525~ 000 passenger cars and trucks. The figures represent the first esti- | mate that has been made this year in what might be termed “official” quar- ters. They came out of a meeting of the Automobile Manufacturers’ Asso- clation and in other trade quarters are regarded as a ‘“conservative” ap- praisal of what the remaining six months of the year will bring to top off a production already well in excess of 2,250,000 cars and trucks. The estimate has not resulted in any revision of early predictions in other sources that the total output for the year may get well up near the 4,000,000 mark. Even if the aggre- gate falls short of the unofficial esti- | mates, however, the producers are as- | sured that the year's output will ex- ceed the production of any year since 1929, Vigorous sales drives are under way in all sections of the country and ad- | vices ‘from the field tell of an en- couraging decline in used car stocks and the appearance of the expected secondary phase of retail demand, fol- ?| lowing the industry’s high level pace in meeting original requirements. One phase of the fleld reports that | | interests producers particularly h advice that dealers’ stocks in most cases are not excessive. From current production scheduled it would appear the manufacturing division is en- | deavoring to keep only a few weeks ahead of the merchandising outlets. Commitments for new production equipment have not yet been placed in any great volume, indicating th ™ | producers are not expecting any im mediate and material tapering oft of demand for current types. | from That Good Gulf this experiment . : judge it themselves. They agreed—drove Gulf in their own cars under all kinds of condif on 5 important points: ( ing (3) pick-up (4) power (5) all-around perfommu. TO GIVE you an idea of what you can expect D. C., THURSDAY. Central Offers Bond Issue for ° Je . Subsidiary Line By the Associated Press. NEW YORK, June 27.—The New York Central Railroad announced last night the public offering of & new is- sue of $12,500,000 of the Toledo & Ohio Central Railway Co. refunding and improvement mortgage 3% per cent bonds, series A, due June 1, 1940, The interest rate was sald to be the lowest of any American railroad bond issued for public subscription in the last 25 years. The Toledo & Ohio Central, sub- sidiary of the New York Central, oper- ates from the coal fields of West Vir- ginia and Southern Ohio through Ohilo’s manufacturing ‘district. DIVIDENDS ANNOUNCED NEW YORK Jun' 27 —Divid elared” corepa; the Boandara® ol lnu. P M!t riod. rmrl. UL,L 7 -io Accumulnted, Hartman Tob §%% pf.$1 _. nd Lnn.x‘?):._ Un Co Vlldln 'acking s Gas Begurities pf. ___80c ofl\!" Plnmooflns . Gracs TWRI & Grace (WR) & Co Aot Dr;c: (WR) & Co | Gryee (W RY | oA W Ry &6 | por o T | Grace (WR) & Co B of [J L Hart & Cooley. 1.1zl = c @3 owd ©' D 0om m 0 0 £ | P EX0 OO OOOD s = Spartan Miils Stand Nat Corp Virden Packing Warren Foundry & 'ipe Corp . . Wisconsin Tel pf m " aam Docoo3p! Pa CnSh &a JUNE 27, 1935. CONGRESS WEIGHS AID FOR SHIPPING World Trade Revival Spurs Efforts—Glories of Clip- per Era Cited. BY RADER WINGET, Associsted Press Financial Writer, NEW YORK, June 27.—Congres- sional efforts to bolster the United States shipping industry with dollars s signs of & revival in international trade become apparent has awakened in Wall Street memories of the glories of the clipper ship era. America ruled the seas with fast clippers, and even though the Savan- nah in 1819 was the first ship to use steam in crossing an ocean, it was not until the beginning of the present century that steamers surpassed sail- 1 ing vessels in gross tonnage in the American merchant marine. Congress as early as 1845 recognized the need for aid to American shipping | 1 by allowing bounties through mail |4, contracts on certain foreign routes, but at the outbreak of the World War it was necessary to rush a merchant marine building program as an aid both to industry and national defense. 1928 Act Spurred Building. The merchant marine act of 1928 spurred shipbuilding. By the middle of 1930 there were nearly 500,000 gross tons of shipping under construc- tion in the United States. Then came the depression, and the total fell abruptly to almost negligible quantities by the beginning of 1933. Since that time there has been only a slight increase, & rise of almost no importance so far as freight-carrying facilities are concerned. Definite recognition of the upturn | in international commerce this year was given yesterday at the World Congress of the International Cham- ber of Commerce in Paris, where a majority of delegates from 39 nations agreed the world is definitely on the road out of depression. | As a reflection of this situation, re- ports from London show British mer- chant vessels are gradually being moved out to sea to take part in the trade revival. Some have been sold for.breking up, but. the majority are returning to trade lanes after years of idleness. Various Plans Considered. Congressional leaders have under consideration various to en- able boats flying the Stars and Stripes to compete with foreign shipping on more favorable terms and to assure this country a sizable merchant marine. One bill presents a plan for Govern- ment construction of boats in private shipyards with private opsration. Another asks for payment by the Government of the difference between the cost of building a ship here and abroad. ered in bills are Government loans to ship owners at low rates of inter- est, continuation of Government mail | contract payments, and direct sub- sidies for operation of merchant lines. U. S. TREASURY POSITION. By the Associated Press, o5 The position of the Treasurs on June §107000.015° Balance. 81 B0RA0R b, run: | 501 toms receipts for the month. $24,125.571. )Reul se 34 nnds& the l’nvlou‘ du. lold assets, 1935 1comnluhlc $12,704.187; net bal 52580 i 3u‘urg; Tecelbia or "the month. 318 - lnll for the fiscal year. 83.- 7' ndllllnl ”MQ 59.53 l in: !"dlulrau = lx cess. 01 e nditures. 3. debt. $26.975,178. R cs 352.448. RAILEOAD EARNINGS. 27 (. —Railrosds NEW YORK. = reporting net mlny operating income for | 4 1933, 1934 May included Pelmn vania Y. Cent: Missouri-Pactie =~ Buriingten 12 240304 ul ~ 130 Wheetine e Baltimere & Ohlo Santa Fe A43 nection with raliroad retirement act. Deficit. PARIS BANK CHANGES. RIS. June 27 r Bank of Prance shows Among other features cov- | —The weekly state- | the following changes in the | serve decreased 1.2 wpe A_17. COPPER REDUGED . 0 8 GENT LEVEL Break of Full Cent From Blue Eagle Price Is First Recession, By the Assoctated Press. NEW YORK, June 27.—Copper | metal was offered in the New York | market bby a producer today at 8 cents a pound, a break of a full cent from the “Blue Eagle" price of 9 cents which had been maintained since July | of last year. A little second-hand copper had | been offered between 8 and 8'; cents tince the collapse of the N. R. A, but | today was the first time first-hand opper had been offered under the cid “Blue Eagle” price, which big pro- | ducers have struggled to maintain. At | 8 cents, copper was the lowest since March of 1934. | Since the Supreme Court decision |on N. R. A. major producers had met | several times in both New York and Washington in an effort to reach some agreement whereby copper could be kept at 9 cents, but evidently no such act was made. FOREIGN EXCHANGES. NEW YORK. June 27 | change steady: ‘Great Bri: others in ;‘»ms !nmn_De Ty: cables. Foreign ex- ollars. Czechoaln\lnz 41975 19,000 &) 1268 ] ‘H“'mi'l New Yor | Montrea. New York, 99 *Includes e""l"l of $1.845.071 in con- | A in Montreal. 100.06's. n LONDON BANK REPORT. LONDON. June P —The weekly | statement of the Bank of England shows pounds: Total re- circulation in- TR.000: the !oflo'l%t changes in francs: Gold increased | creased 1.130.000 bullion ecreased o8- sight ~balances “abroad 00.000; 000; bills .000: ' advances de- circulation” decreased | tieg increased 1. 000.000; accounts increases 28.000.000 3n-flu loa n on, sovernment ral decreased 22.000.000. * Rate of discount 5 ver cont PUT YOUR CAR IN OUR HANDS for a 3-week “Tank Test” Gasoline, we made Seven out of ten voted Gulf superior on one or more of these points. Manyvoted a straight Gulf ticket—found it better in all 5 ways! We invited 750 motorists—average owners of average cars—to buy Gulf for 3 weeks and Gulf won because it’s 5 good gasolines sn one. It is controlled to such accurate refining limits that it gives you not 2 or 3 important qualities—butfive/ Try it in your car for 3 weeks. Ve'll wager " you'll climb on the Gulf bandwagon. tions—and reported 1) mileage (2) start- in- | 000: oduls Qiscounted At | public deposits increased o.560.000: other 0.000, ‘bought | deposits other securities increased 2 AA9 increased 5.000: 1130.600; 45.0 Bortion of he bank's I'-mmv 5735 K9 per cent com 7.30 last week ‘Rate of discount notes reserve decreased fovernment seer 2 per cent What free Gulf tire service can boost your gas mileage? You'll find the answer to this ques- tion in this free Gulf booklet, plus 14 other helpful hints on gasoline economy. It's packed with valu. able driving secrets that can save you many dollars a year. Drive in and get your copy free today at the FREE—AT ALL GULF DEALERS! . THAT GOOD GULF GASOLINE Sign of the Orange Disc.