Evening Star Newspaper, July 1, 1935, Page 19

FINANCIAL. PINANCIAL SECONDARY RAIL BONDS STAGE RISE THE EVENING STAR, WASHINGTO D. C, BONDS ON NEW YORK STOCK EXCHANGE High. Low Close. BOND AVERAGES Y8% 9Ky 9RY 8G 80 80 Complled by the Assoctated Press. 20 10 MONDAY, JULY 1, 1935. DAVISON CHEMICAL TOBACCO STOCKS ACCORD REACHED| BELOW YEAR AGD SOUTHERN CALIFORNIA EDISON ISSUE OFFERED By the Associated Press. NEW YORK, July 1.—Public offer- ing of a new issue of $35,000,000 Southern California Edison Co., Ltd., refunding mortgage gold bonds, series By private wire direct to The Star. Approximate Transactions Today. U. S Gov't Bonds. + $1,260,000 Foreign Bonds. 1,280,000 98 97% T4% 3% T4% T4% 98 10 10 Quiet Investment Demand Also Reflected by Other Market Groups. By the Associated Press. NEW YORK. July 1.—Quiet invest- ment buying was reflected in various sections of the listed bond market Rails were most consistent in their action, and secondary issues finished with a substantial number of gains. Utilities showed some nervousness pending the outcome of the House vote on the “death sentence” in the utility holding comrany bill. Defeat cf this drastic provision was announced after the market’s close. Joyce Is Elected New President of Bellanca Aircraft | EBpecial Dispatch to The Star. BALTIMORE, July 1.—Temple N. Joyce has been elected president of | the Bellanca Aircraft Corp. Mr. Joyce, long nationally known in the aviation field and war-time pilot, succeeds | Giusseppi Bellanca, who was made chairman of the board of the com- pany. Mr. Joyce formerly was president of the B. J. Aircrait Corp. and be- came general manager and vice presi- t of the General Avia¥én Manu- | g Co. when that concern| quired the B. J. company. NEW HIGH IS REACHED FOR INSURANCE SHARES Epecial Dispatch to N YOR stocks in the The Star July 1.—Insurance v York City market ain during the last a new 1935 high on' according to figures | t. Rose & Troster. e of 20 leading week. es! ’t‘lL\l\lllL the closing da compiled by Hi regate va ; Argentine 6%s 62 | Argentine 6s'58 B Domestic Bond LIBERTY. High Low. Close #th 4145 1933-38. 10125 10125 10127 TREASURY. 10120 10118 10119 10325 10324 10324 10828 10326 10328 1054 1053 1058 «s 10429 10426 10426 10819 10819 10819 106 14 106 12 106 12 3481964 10824 10322 10324 3% 1940 ne 108 17 108 17 10817 33%s1941-43 Mar. 10819 10818 10819 3%s1943-47 reg. . 10719 10718 10719 3%s 1946-56 . 11010 11010 11010 451944-5. o112 11130 112 41,8-3% 5 1943 45 10620 10619 10620 FEDERAL FARM MORTGAGE. 2% 1942-47 . 1015 1013 1015 5 1029 1029 1029 1024 102 1022 HOME OWNERS’ LOAN 2% s 1939-49 . 10020 10015 10017 3s1952.. 1023 1021 1021 FOREIGN BONDS. Agr Mtz Bk Col 63 *47 Febr cou on. Akershus 68 °63.. Antioguia 7845 A Antloquia 7s '45 D Antioquia 1st 78 57 Antwerp 6s '58 . 314 . 1949-52 3% s 1941, 38 1944-46. 24% 24% 951 10 "% 9% 983, 93% 9T 9T 9% 97 97 1% Argentine 6s '57 A Argentine 6s 59 Ju: Argentina 6s '59 Oct. Argentine 65 '60 May Argentine 6s 60 Sept. Argentine 6s '61 Febr Argentine 6s'61 May. Australia 4348 '5: Australia 6s '65. Australia 6s ‘57, Austrian 7s 57 Bavaria S 615 '45 Belgium 6s '55. . Belgium 6343 49 Belgium 7s'56. . Bergen City 5s Berlin Elec 6% '59. Bogota 8s '45 Bolivia 7s'58 Bolivia 78 '69 Rolivia 8s'47 Brazil 6148 "26-"57. Brasil 614s "27-'67. .. Brazil 78 '52.... Brazi! 8s 41 Brishane 6s ‘50 Brisbane 5s '58 - Buenos A 6s 61 st Pv 6“5 97 96% 97 96% 97 96% 103 102% 103 102% 1027 102% 96 96 6 28 amounted 0 $582,826,000 gainst $576,425.000 on June 21, an | ase for the week of $4,401,000, | or 0.76 per cent. The low for the| vear. reached on March 14, was $484,- | 000 | The current average yield of the | 20 issues is 3.43 per cent against a Yield of 3.45 per cent on June 21. NEW YORK BANK STOCKS MOVE DOWN IN WEEK| Bpecial Dispatch to The Star. ‘} NEW YORK. July i—New York | City bank stocks regisiered a decline during the last week. according to records ccmpiled by Hoit, Rose & Troster. The aggregate value of 16 leading issues totaled $1.297.616,000 on June | 28, compared with $ 189,000 on June 21. a decr v the week of ,000, or 2.08 ver cent. The current average :ield of the 16 | issues of 530 per cent compares with | a yield of 519 per cens on June 21 The current market value is now 1.06 | times the known value PERISHABLE SHIPMENTS GET SPECIAL ATTENTION By the Associated Press NEW YORK, July 1.—Methods of loading perishable fruits and vegeta- | bles for railroad shipment have been placed under full jurisdiction of the freight container bureau of the Asso- ciation of American Railroads, John J. Pelley. president, announced today. It is expected. he said to result in greater efficiency and economy in | shipments. SOVIET SHIP BRINGS CHROME AND IRON ORE Special Dispatch to The Star. BALTIMORE, July 1.—Five thou- gand three hundred teas of iron ore and 1,500 tons of chrome ore were brought to Baltimore Saturday aboard the Russian vessel Kharkov, which came direct from Black Sea ports. The Kharkov is the first ship flying the red hammer-and-sickle flag of the Soviets to come to Baltimore since Moore & McCormack Co. became the Soviet representatives here. CHECKS STILL AHEAD OF LEVEL YEAR AGO By the Associated Press. Checks drawn against individual bank accounts in leading cities con- tinue to run ahead of last year. The weekly report of the Federal Reserve Board cn debits shows a gain of 8 per cent over the corresponding 1934 week and a drop of 17 per cent below the total for the preceding week. The weekly decline was considered normal after heavy mid-month transactions. Aggregate debits covering 271 cities compared as follows: Week ended Jun! 2 Preceding week _ Bame week last vear LOWER NET REPORTED BY INTERNATIONAL SHOE By the Associated Press. NEW YORK, July 1.—International Shoe Co. reports for six months ended May 31 consolidated net income of $3,568,105, equal to $1.06 a share. This compares with $4,860,354, or $1.45 a share, in the same period of 1934. CREAMERY LOSS SHOWN. NEW YORK, July 1 ()—Beatrice Creamery Co. and subsidiaries reports for the quarter ended May 31 net loss of $207,270 after charges, against net income of $148,077, or $1.40 a share, in the like quarter a year ago. METAL MARKET. NEW YORK, July I b .—Copper quiet; lectrolytic. spot and fut arely steady: -m! nd van; : = "- York. 4(1“‘: Po: ‘steady: spot. or! 2 %:':‘:f szufafm BKBai 05, Zine dull: St"ovis “spoi and Tuture. 4 nim. 19008 Antim Diicaitver T1:50873.80. 1450215.00. pot, 12.7 Wolframite, - MONEY MARKET. YORK. July 1 (P.—Call money vy per cent all day. Time loans . 00-60 davs, Y offered; 4-6 months, Prime commercial paper, % s’ NEW steady: steady % o 0] onths. sunt Fate, New' York Reserve Bank, TeR et S FREIGHT LOADINGS. NEW YORK, July 1 today for the week ende chadea: °F Week saPp re_ Buenos A 61,s’61stPv 65 Buenos A C6%s°65.. 94 Caldas 71846 121 Canada 4s '60 1073, Canada 4%s 1021 Canada 6s '52 113% Cauca Valley 74846 124 { Chile 6360 . . 131% Chile 6s ‘61 Jan. Chile 6s'61 Febr, Chile 6s ‘61 Sept Chile 6s '62 Chile 7s 42 Chile Mtg Bk 6s Chilean Mun L 7s "60. Copenhagen 4348 '53. Copenhager 5s'52. .. Cordoba 75 '57 City.. Cordoba 78 '57 stod. .. Cordoba 78 *42 Prv.,. Costa Rica 7s '51 A May coupon on.. Costa Rica 7s ‘51 Nov Cuba 4155 '49 89 Cund'amarca 6%s°59 12% Czechoslovakia 8s'51 105% Denmark 4%s '62. Denmark 5345 '55. | Denmark 6s '42 Dominic 2d 5%s'40. . Estonia 7s '67. Finiand 6%s Ger C Bk A 6s '60July Ger C Bk A 6s'60 Oct GerCBk A 7s'50 .., Ger Prov & City Bk con Ag 6%s '58.. Ger Gov 534865 ... Grt Br & It 56%s '37. Ger C Bk A 6s '38. Grt C El Jap 6% Grt CEl Jap 7s '44 Haiti 6s°52. Italy 78 '51. Ital Cra P W 7 47 B Kreu&Toll 5s '59A cfs Japan 6148 '65. Japan 6%s ‘54 Medellin 634s Met Water 5%s '50. Milan 6%8°52. . . Minas Gers 6148 '59 Sept coupon off. , New So Wales 58 '67. New So Wales 53 '68. Norway s "63. Norwav 5%s '65 Norway 6s'43. Norwav 6s 4. Norwayv 6s'52. Norw Hy E15% Nuremberg 6s '52. Orfental Dev 5%s '58, Oriental Dev 6x ‘53 OsloG & E 55’63 Panama 6s '63. . 45 kil 18% 31% 105% 898, 988 103% 60 95 1031 30% 30% 50. Poland 7847 Poland 8s ‘50 Prussia 6s °5! Prussia 6148 '51.. Queensland 7s°41. Rhinelbe Un 78 '486.., Rio de Jan 6148 '63 Aug coupon off. . Rio Gr do Sul 8s *46 Avpril coupon off. Rome 6%s ' Rumania 7s Aug-coupon off. . Santa F Arg 75’52 stp Sao Paulo St 6s ‘68 July coupon off.. Sao Paulo St 78 40... Sao Paulo St 8s '50 July coupon off.. Saxon Pb W 6448 '51. unm ¢ on 4 unm ¢ on Shin'su K1 P 645 '63. Stlesia Prov 7s 68... Taiwan Elec 5%s '71, Tokio 638 ‘61, Tokio El Lt 68 Ujigawa E P 78 45 Unterslb P & L 65 '53. Uruguay 6: Yokohama 65 ‘61 38% 88% 88% 88% DOMESTIC BONDS. Abr & Straus 63%s ‘43 104% 104% Adams Exp 4s°'48.... 94 93y Alb & Sus 3%s '46 gt6 101% 101% 9 5 104% 93% 1013 9% Alleg Corp 18 Alleg Corp Allied Stores 4%4s°50 94% 94% 94% Allis Chalm 68 '37... 101% 101% 101% Am & For Pw 682030 70 69% 69% Am 1 G Chb6%s'49... 110% 110% 110% 93% 93% 93% 102% 102% 102% 1013 101% 101% 1084% 108% 108% 112% 112% 112% 37 101% 101% 101% 89 88K 88% 25% 25% 25% 25 25 25 13 12 13 104 103% 103% 106% 108t 105% 10314 103% 103% 106 104% 104% 110% 110 110% 108 108 108 A 163 110% 110 110% At1&Ch A L ¢%a'44 1054 1054 105% At1&Cb A L5s'e4.. 106% 106% 106% At Coast L 1st 48°63 97% 97% 97T% At Coast L clt & % 76 6 MY T8% T84 . 95% 95 9b% 48 35 33 35 1% 416 41% 107% 107% 1078 104 Am Writ P 6s '47 ctfs Anglo Cb Nitr 7s 45. Armour & Co 4% ‘39 Arm of Del 6%s '43.. Armstrg Cork bs '40. Atlantie & D 1st At1G & W 1569, At] Refin deb b Net change . ‘Today. close Previous day Month ago 1928 high _ *New 1935 high. B&0 PLE&W V 48 '4) !9 B & O Swn 68 '60. Bell T of Pa 6348 B. Bell T of Pa 6s'60 C. Beth Stl p m 6. Beth Stl rf db 6s 42.. Bos & Me 4% '61J Bos& N Y A L 4s'55. BklynCy R R 58 41.. Bkiyn M T 6s 68 A... Bklyn Un EI bs 50... Buft R&P con 4%s ‘57 Bush Term 1st 4s'52. Bush Term en bs '56.. Calif G&E ref 5s 37 Calif Packing 58 "40. Calit Pet 65 '39. Camag 817s'42 ¢ Can'dlan Nt R 4% Can’dian Nt R4% 8’64 Can'dian Nt R 438’67 Can’dian Nt 68'69July Can'dian Nt 55’69 Oct Can‘'dian Nt R 55 °70. Can'dian Nr db6 145’46 12315 Can'dian Nr db 7s '40. 106% Can'dian Pc dbésperp 88% Cent Pac 1st rf ¢s'49. 103 Can'dian Pc 4%8'46. . 10: Can'dian Pc 4%s '60. . Can'dian Pc b5 *44 cfs Can‘dian Pc 5s ‘54 Cent of Ga 65’69 C Cent Hud G&E 68 Cent HHE&G § Centof NJ C& Ocon6s'3y Chesap Cevel Chesap Corp 58 °47. Chi & A1t ref 3s°49 ChiB& Qs Chi Grt W 4s°69. Chi Ind&L gen 6s 66. Chi & NW gn 333s 87 CM&StP 45 '89. CM&StP gn 4%s ‘89 c CM&StP 4%s'89E.., CM&StP 4%5'89. CM&STP 58 76....... CMStP&P adj 63200 Chi & NW 4138 2037.., Chi & NW 4348 2 Chi & NW rf 58 2037, Chi Un Sta 448 63 A. C& NW Nr W 63%45'36 Chi Rys 1st bs "27.. Chi R 1&P rf 4s '34. Chi & W 1 con Chi& W1b%s C&W1 Istrf 6%8'62 C Childs & Co 68 ‘¢ Chile Cop deb 5847 Cin Gas El 4s° Cin Un Ter 6s '57 CCC&StL gen 4s 93 CCC&StL rt 5s 63 D. Clev Un Ter 4%s "17. Clev Un Ter 65 73 B. Clev Un Ter 6%8'72A Columbia G & E deb 68°52 April..eea. Columbia G & B 53°53 May. Columbia G&E 5 fl. Colo Fuel & 1 65 43.. Colo Ind ¢l tr 68 ‘34. . Col R P L 1st 448 '57 Col R P&L 5%8'42... Col & So 448 30 asst Com Inv T 6% 49. Crown C & 8 6847, Crown Will P 6s '51.. Crown Zell 6s 40 ww. Cuba R R 1st 68 ‘52 . Cuba R Rref 7%s 36 3 Den G & E 5851 Det Edison 4% Det Edison rf Det Edison rf 63 ¢! Det & Mac gold 4s '59 Det Riv Tun 4%s 61, Dul SS&Atbs'37... Duqu Lt 18t 435 67 ETV&Gacnbs's6 Elgin J & E 58 Gen Am Inv bs ‘52 Gen Cable 614847 98% 108% 105 26 106% 104% 104% 88y 88l Goodrich & Goodrich 6%s Goody'r T&R Gould Coup Gr Tr'k of Can GtNRref 4% GtNR gen %816 D GtNRgen 44811 E u;uauu-"l;c.. . Hud & Man ref 6857, 111 Cent coll tr 48 '63. 111 Cent 4%s ‘6 ICC&St L NO %863 ICCa&st L NO 3. . 111 Steel deb 434840, 1074 5 A. 106 Inland St! 4%8 78 A. 107 B. 106 Int Gt Nor s '56 B, Int Gt Nor 6s'62 A... Int Gt Nor adj 65’624 Int Hydro EI 6s 44. int Mer Mar IntT&Tcven 3. Int T & T b8 ‘66 Int Ryof CA inv Equity & Iowa Cent 68 38 ctfs. 4 1013 101% 11% Util. -1 95.8 959 935 874 95.9 845 889 68.2 64.6 102.9 . Indust. +.1 *97.2 Por'gn Unch. 69.3 1934 low 1932 low 100% 100% Laclede Gas Gs '39. 101 Laclede G 648 53 108% 108% 118% 118W 124'% 124% 111 111 104% 104% 108 108% 70% 0% 29% 29% 91U 914 108% 108% 105% 105% 106% 106% 109 103% 61% 61 87w 874% 44 4 108% 109 10415 104% Lautaro Nitr 6s ‘64 L & N unit 4s 40 Leh Val Coal 65 '64 Leh Val Coal 6574 Leh Val Coal 6s '38 Leh V Pa con Ligg & Myr bs '51. Ligg & Myr 7s "44. Loew's 6s "41. . Long Dock 6s '35 Long Isl ref 4s 49, 11% 111% 1024 110% McKess & R 6%s 50. Manhat R 4890 Manhat R 2d 4s 2013. Market St Ry 7 A Met Ed 1st rf 6s'63 Mich Cent 4: *4 Mich Cent 4%s Midvale S&0 6» MI/ER&SLG6s 61.. MilE R&S L rf 6871 MStP&SSM cn 4s '38. MStP&SSM cn bs '38. MSt P&SSM 68 '38 gt¢ MStP&SSM 6%s ‘78 Mo 111 55 '59 111% 103 110% 114% 17 116%, 123% 106% 8814 103 103% 101% 1z 10514 103 105% 94 103 861y 118% 5% 109% Mo Pac 63’77 F. Mo Pac 53718 G. Mo Pac 68 ‘81 1 Mont Cent 68 '37. Mont Pwr ref 65°43.. Mont Pwr 5862 A... Mont Tram bs ‘41 Morris & Co 4%s Mor & Esx 3%4s 200! Mor & Esx 4%8'60 | Mor & Esx 55°55..... Mut Fuel Gas 5s '47.. Namm & Sons 68 "43. ssau £1 45 °61 gtd. Nat Dairy 6%s ‘45. NatDisPC4ls’4 102 1067 | 94n | New Or GNR b: New Or P S 6362 A | New Or T&M 658 54 2 | Newp&Cin B 412845, 10715 1074y 97l VT4 B5a 85l 62% 6213 6219 624 69'4 681y 109t 108% Y Cent con 4 Y Cent rf 4348 2013 N Y Cent rf433s2013n N Y Cent rf 6s 2013.. | N ¥ Centcv6s4s... NYC Mich C3%s 98. NYC&StL 1st 45 '37., NYC&StL 4%s°78 NYC&StL 538 1 N ¥ Conn 15t 4355 53 | N Y Dock 1st 48 °'51... N Y Edison 5344 B.. Y Edison 6s 61C.. Edisref 648 '41. El HEP 4349, IN |N | N n b4 5 : 3 3 2222700 IrTrrzx irrpRPRrpRs 13 2 3] 0 86 SazxEITis en 4%s '39.. Rock 6. 2t3 222222222227 L2022 'UI I el ) Zz sHH® [ - [3 - Niag L&O P 6s'55... Niag Sh 6%8°50..... Norf So 1st rf 6s Norf&W 1st ¢s North Am Co North Am Ed North Am Ed 6%s ‘63 99% Nor'n Pac gen 38 2047 76% 76% « 106% 105% 96 95% 95 94% 101% 101% 101% 106% 106% 106% 107% 107% 107% 112 112 108 108 17 17 118 118 104% 105 90 90 41 41 106% 106% 106% 106% 106' 106% 109% 109% 109% 40% 40% 944 9% Y% 9% 964 106% 112 6014 s 111% 32% 324 108% 105% 105% 106% 90% 102% 102% 106 106 104 104 101 101 40% 41 42 42 47% 48 9% 94% 8% T9% 106% 107 112% 112% 107 108 109 109 16% 15% 111 111 49% 50 104% 104% 106 106 108% 108% 4% 4% 101% 101% 66% 65% 641 64% % Th 35% 354 104% 104% 102 102 Nor'n Pac 68 2047 D.. Nor'n Pac 68 2047.... Nor'n Sts P 1stbs’41A Nor'nStPés'¢1B... Ont Pw Niag 6543 Ore R R&N 4846 Ore Sh Line bs '46. Ore Sh L 6846 gtd Ore WR R &N ¢s°61 Otis Steel Pac Coast 5 Pac G & E b/ 43, Pac Tel 1st 68 '37 Pac T&T ref 5s '52... Pan-Am P C 6s 40 cfs Par-F-La §s 47 cfs. Par-F-La 6s 47 filed. . 89 106% 106 % 106% 106% 105% 108% 108% 108% 97 96% 97 104% 104% 104% 1073 107% 107% 116% 116% 115% . 1034 103% 1031 105% 106% 105% 106 106% 106 8% T8% T8% 9% 9% 79% 111 111 111 118% 117% 117% 98% 97w 98% 107 106% 107 Penn R R 43 Penn R R 4%s Pere Mara 'st 48 Pere Mara ¢%s Phila B&W 4s°43 Phila B&W en bs 984 98% | Phila Co 108% 108% 104% 106 26 26 105% 105% 104% 104% 104% 104% 7% 88% 88% 9% 9% 96% 39 26% 26% 256% . 102% 102% 102% PCC&StL 4%s'40 A.. 111% 111% 111% PCC&StL b5 '70 A.... 114% 114 114 PCC&StL 58'75 B.... 114% 114% 114% Pitts&WVa 4%8'60C 614 611 614 Port Gen E14%8'60.. 69 68% 68% Port G El 5535 assd. 105% 105% 105% Porto Rico A T 51% b51% b1% P PubSEI&G4s'T1 PubSEl &G 4%s'T0 Pure Oll 6%8°37..... Pure Ol 6%8 " Purity Bak R-K-O 68 41. Reading Jer C ¢ ‘51 Reading R 434897 A. Rem Rd A . 107% 107% 107% 107 107 101 101 102 102 96% 94U 95% 39% 394 39% 99% 99% 99% 106% 106% 106% 108%,103% 108% 105% 105% 105% 1024 1024 102% 33 83 33 33 33 33 108% 108% 108% 10% 10% 10% 83 33 33 68% 681 684 1% T Tk 12% 12% 1% 13 10% 10% 12% uu 3.. 108% 108% 103“ St P U Dep ref 68°73. 117% 117 117 « San An Pb S 6s'52 A. 108% 108 108% ‘43. 874 87 8Tk 6! 6% 64 4% 5 8% 3% 90 90 loau 103% 103% 1034 103% 103% Slerra &S F P 6s'49. 111% 111% 111% Sino Con O 6%s°38 B. 101% 101% 101% Sine Con O 78°37 A... 101% 101% 101% Skelly O11 6348 '39., s 102% 102% 102% So Bell T&T 107% lx 104% 67% 67% 107% 107% 106 106 106% 106% 106% 105% 75 76 | Richfleld O 6s ‘44 cfs RochG & E Rutland Can 4s '4! . St L IM&S R&G 4833 StLRM&P 6556 Sti~SF4s'50A. StL-SF4%s St L-8S F4%s'T8 cfll St L-SF§s’'60 B 107% 107% 80% 80% 6% 77 So Pac 4%s ‘81 T4 13% SoPacOre4148'717.. 85 Bl So Pac 8 F" Ter 4550, 104% 104% So Ry gen 43’68 A... So Ry 6'%s '66. So Ry M&O 43’38 Southw Bell T bs Stevens Hotel 65 '45. Studebaker cv 6x "46 Swift & Co 3%s '50 Tenn C& | RI 58 °61. 121% hl'/. Tenn Kl Pw 68°47 A,. 103 102 Texarkana 5%s 50 9l 944 104% 104 90 90 90 9%, 104% Third Avref 4s 60.., 68 52% b3 Third Av 1st 68°37... 101% 101% 101% Third A ad in ex 65'60 21% 20% 21% Tol StL & W 4s'50.. 94% 94% 94% UnEL&Pb68'57. 107 106% 106% UnEL&Pb6%s 106 106 108 Un Pac 18t 111% 111% 111% 109 109 109 1034 108% 10715 107% 105% 105% 107 107 905 91 948, 87%4 88% 441 45 8% 12 107 111% Un Pac 1st rf 452008, 107% Un Pac 4%c '67. 1073 Unit Biscuit 58 60... 107 Unit Drug 63 °63..... 91 U 'S Rubber 68 '47.... 95 Utab L& T 68’44 A.. 88 UtIP&L6%s 47... Vanadtum cv 6s 41.. Sug 1st 78’42 ofs 12 Va E&P 1st rf 55'56 A 108% 2 A, 111% 3 Wabash 6876 B Wabash bs '80 D. . Wabash 6% ‘75 ctf: Wabash Des M 4s 39, 65 Wabash Om 8%s '41. Walworth 6845 A Warren Broscy 6341 463 Warren RR 3%s2000 80 W Pa P 1st 5563 E... 119% W Sh 1st 48 2361 West'n El deb West'n Md 1at West'n Md 6% WestnNY&P gn 4543 1073 West'n Pac6s ‘46 A.. 34 West'n Fac 6#'46A as. 33% West'n Un 4%s 50... 981 93% West'n Un col tr 55'38 104% 104% West'n Un 68 ‘51 West'n Un 5s ‘60 West'n Un 61 Wh & L E con 48 '49 Wheel Steel 4345 '53.. Wheel Sti F158°48 A. W Sp Stl 1st 7835 ct. |WSpSticon?s'35ct. 9% Willmar S F 68 °40. .. 10415 104% 104% Wilson&Co 18t 65 '41. 108% 108% 108% WiscClstgends'49e 10 10 10 Younktn S2T b'70 B 95 4% 94% Youngtn S&T 6818 A. v4's vdln Y4y 99's 104 10% | New Group Plans Intervention in Postal Telegraph By the Assoctated Press. NEW YORK, July 1.—Reorganiza- tion of the Postal Telegraph & Cable | Corp. or its absorption, under Gov- i into a unified com- munications industry upon terms ac- | ceptable to security holders will be (demanded by a new Bondholders' Protective Committee headed by Cecil P. Stewart, it was disclosed in a letter | sent to helders. In announcing its intention to in- tervene in proceedings initiated by | the company in its application for reorganization under Federal bank- | ruptcy laws, the committee stated that it represented “the rank and file” | poration and was not identified with any banking group or persons identi- tfled with the management of the in- terested companies, In addition to Stewart, the com- mittee includes Malcolm C. Rorty, | president of the American Manage- ment Association and formerly a vice president of the International Tele- | phone & Telegraph, the parent or-"| ganization, and George Akerson, for- mer secretary to Herbert Hoover. CHICAGO STOCK MARKET CHICAGO. July 1 (#.—Foll complete “omcial list” 01 {ransaciions 1o flocks on the Chicaso széz:k Exchange $0 Am Pub Svs pf. 30 Armour & s 700 Autom B 100 Binks Mlgd 40 T Df called 108 30 Borg-Warner " pi 100 Batler Brog > “"L' 100Cen‘ & § W Snagw Cnas Btz 303, 108 110% 1101 6% . o ERe- BEEEE [ e Ch 10 Montg er; A _ 13! 50 Musk Mot Sp A PR EESE 50 Berfect Circle inter 200 Publlc Sve n p__ 1 . Em %19 B D FEEF W oy 153 BV Sz SEPRFEEEE TEFOF 9 Cx S i 20 Viking Pump 50 Vortex Cup —--- 200 Wahl Co _ 300 Walgreen 110 Waukesha 100 Zenith Rad _ Total—13,000 shart —_— BALTIMORE STOCKS Spectal Dispatch to The Star. Sales. STOCKS. High. Low. 680 Arundel Corp 475 gl“k & Decki 180 Black & Deck pi- ‘Consol TEREFE 013 o 3F =SS Baom R FREL Close. ] ao"z 3«2 8‘% [ [ 8% 70, 7325‘ a 10% 10 g a2 20 ' e & GuarZ 10% 430 West 'Ma Dany pi- b2 . CHICAGO CLEARINGS SOAR. CHICAGO, July 1 (P).—Chicago bank clearings totaled $6,275,754,494 during the first six months of 1935. Last year the total was $5,364,179,904. June clearings of $1,045,737,601 were slightly below the total for May, but greater than in June of any year since 1931. REFINANCING IS TALKED. CHICAGO, July 1 (&) —Libby, McNeill & Libby, canning firm, may submit a refinancing pian to its stockholders, President E. G. Mc- Dougall said. A previous - sation was approved in m% of security holders of the cor- | Reorganization Plan Backed by Three Committees of Security Holders. Special Dispatch to The Star. BALTIMORE, July 1.—A plan being formulated for the reorganizacon of the Davison Chemical Co., the gen- eral terms of which have just been made public, represents the joint agreement of three committees rep- resenting various groups of holders of securities of the company and its subsidiaries, it is understood. The three committees, known among security holders as the Strother Com- mittee, the Gray Committee of De- troit and the Gillet Committee, con- trolling among them more than the required two-thirds of securities to make the proposal operative, held a joint session, at which they agreed to a proposition outlined by the bank- ers and the general creditors. One provision of the agreement was that under the reorganization ap- proximately 500,000 shares of one class of stock are to be outstanding, with | Davison Realty Co. noteholders to receive approximately 75 shares for | each $1,000 face amount of notes or certificates held, and the banks, general creditors and Davison Chem- ical noteholders to receive approxi- mately 56 shares for each $1,000 face amount of indebtedness. Another provision upon which the three committees agreed at a joint session, oficials of on® committee said, was that under the reorganiza- tion the company is to have 10 di- rectors, with the committees to nom- inate one of the two directors to serve for a period of five years. The special duty of this director will be Realty Co. noteholders. It was also agreed, it was stated, for these com- mittees to be consulted on the se- lection of other directors. : ADVANCE SHOWN BY REALTY BONDS Gain 20.1 Per Cent During First Half of Year Revealed by to represent the minority interest of | Baltimore Supply of Leaf Smaller Despite Recent Gain in Receipts. Special Dispatch to The Star. BALTIMORE, July 1.— Despite heavy receipts of leaf tobacco from Southern Maryland. especialiy Charles and Calvert counties, stocks in State tobacco warehouses are less than at the end of June last year, when there were 15334 hogsheads in storage compared with 13,211 hogsheads to- day. Receipts have shown a steady in- crease all this month but the peak of the season will be reached during July and August, when by that time practically all of last year's crop will have been placed in storage. The hogsheads are first placed in quaran- tine in the old State tobacco ware- house for 14 days and then transferred i to the new building where it 1s weighed, sampled and graded. The grading, however, is optional with grower, and, according to Albert J. Lomax, recently appointed State | tobacco inspector, “doesn't mean a} thing as the buyers all do their own B, 3% per cent bonds, due in 1960, was made today by a syndicate headed by the Pirst Boston Corp. The bonds were priced at 98'; and interest. This financing, together with the 73,000,000 in new bonds offered earlier in the year, makes a total of $108,- 000,000 of refunding undertaken by the company during the current year. Proceeds from the current sale will be used chiefly to retire on Septem- ber 1 the $32,000,000 gold 5s due in 1952. BONDS TO BE REDEEMED BY VIRGINIA ELECTRIC By the Associated Press NEW YORK, July, 1.—Virginia Electric & Power Co. nas called for redemption on August 1 all its secured convertible 10-year 5!, per cent bonds, due in 1944, not heretofore con- verted or called for demeption. Of the $9,218,000 original amount out- standing, $4,629,000 were called for re- demption on July 1. ENTERPRISE BUILDING ASSOCIATION 7¢h St. and Ind. Ave. N.W. | grading.” The Maryland Tobacco Growers'| Association, a co-operative organiza- | tion, has offices in the State tobacco| warehouses, and also keep a record or\ all tobacco received, including the weight, grade and quality of each | hogshead. | The warehouse has a capacity of 22,000 hogsheads and today is a little | over half filled. If the owner of a hogshead mshes to have his tobacco graded, two li- censed tobacco experts are on call at the warehouse to serve him. But the grading is “a lot of boloney,” accord- mg to Mr. Lomax. “It doesn’t mean anything,” he says. “It's just a silly law passed by me Legislature.” Tobacco buyers, he pointed out, do their own grading on the strength of the samples taken from each hogs- head. Buyers are permitted six months of free storage in the ware- house, then are charged 50 cents per month for a hogshead. When they withdraw tobacco they are charged an “outage” of $3 per barrel to cover the cost of weighing and sampling. Maryland planters are permitted to store their tobacco in the warehouse Anott, Baker & Co. By the Associated Press. NEW YORK, July 1.—An advance | of 20.1 per cent in real estate bond | | shown in a survey by Amott, Baker & | Co., Inc. The calculation was based on dealer-to-dealer bids for 200 large | issues secured by property principally | in New York, Boston, Philadelphia, | Buffalo and Pittsburgh. 5 Present average market value per $1,000 bond considered in the survey | is $353, compared with $294 at the | close of 1934 and $187 on December | 30, 1932, Since the 200 issues have a par | value of $512,295,597, the survey in- dicates an estimated total apprecia- | tion since 1932 of $83,000,000 and a gain of $29,500,000 since the first of the year. Cities and the percentage gain in securities represented in the survey follows: Pittsburgh, 57. 28.5; miscellaneous, 24.7 19.3; Philadelphia, 12. {NEW YORK BANK STOCKS' NEW YORK. July 1 (# — Hmuu.y Dealers' ‘Association. Nev York (Quotations as of 2 o'clock.) | Bank of Mlnhatlln (1%) B Tr (a) Including exi FEDERAL LAND BANKS YORK. July 1 (7. —Federal Land i Babr bon C8ustations as of 2 o'clock.) Bid. NEW YORK. July 1—The A: Pross "wholesaté brice Index of commodities today advanced to 6 9puv\ous ay it was 69.83: ago. 60.18: a month ago, 70.49, year ago, 62.6 Range of ncent s a wee and & Miscellang Additional New ?o';'k ll‘nr.x.e‘u compiled hy the Associated Press: G ures Nu t e tloged steady. igher; u‘lrll 2 oo: J 17b; May. nvnm—rmum Clised " duiet, 18 lower sales standard 79 con” $2%40n.” Sebtember. 1 75:77;" January. 1"' May, * 13.10b; IDE - Putures closed _ barely steady, 8-10 1o September. 10:55n: December. 10.87;: March, 11.20n. Sales. 1.200.000_pounds. Spot steady: Rio Ko, 7. 6%u: a8ls. Cost and freight ofler!n!l Ticitided Safitos Bourbon 5. and 85t 580800 Rio futures closed steady: sales. ber, 5.33n: X em| 5.47n. Santos futures steady: sales. 8.00 Jlll .61n; September. 8n; December. - Mareh 7. o, res closed _irregular, 1% higher to 1. 1; Oct smoked nbhed 'w:‘q Tower: sales 780 bales ober. 1.31!3b: December, 78 per Canton & 3 douhll "tn‘ 81 per cent U. S. TREASURY NOTES. (Reported by Chas. D, Barney & Co) Rate—Maturity, . s Ermm e E22533335xR2523238 VISIBLE GRAIN SUPPLY. NEW YORK, July 1 (#).—The visi- ble supply of American grain shows the following changes in bushels: Wheat, decreased 1,630,000; corn, creased 72,000; oats, decreased 183,000; rye, decreased 207,000; barley, de- creased 406,000 , A [ prices for the first half of 1935 was | indefinitely, free of charge. Aging the leaf in a hogshead improves its | quality greatly, explains Mr. Lomax, who comes from St. Marys County, where he has been raising tobacco on‘ about 50 years. Both receipts and sales of Maryland leaf tobacco showed decline last week compared with the previous week, the | former totaling 1,011 hogsheads and | the latter 913 hogsheads, leaving a stock in State tobacco warehouse of 13,211 hogsheads. The market, however, continues ac- | tive for all grades with the exception of dark and greenish tobacco, which is hard to move. Demand for the better grades is showing an improve- ment with the best grades of fine leaf bringing as high as 45 cents a pound. PHILADELPKIA PBODUCE. e TLAD! Juiy ng!" fowl, nmoum Rocll, hx‘( 13al4; 8pring chickens, Plymouth RO(k o yellow' meated. fancy. : “white Lee- 5; turkeys. young hens, oms. 15:" poor and crooked ducks. white Pekin. fancy. white Pekin old, 11a12; mixed colors. ultry. fowl fresh kil chl:kfm Western, 2 dry . Western, 14al Toe boxes. old roosters, ick Island, Spring ducks. 15. Fairbanks Co—Deficit, 4 months ended April 30, was $34,496, vs. defim $58,301. Organized 1839 JOHN JOY EDSON President Subscriptions for the 109th I. Take 12 Years to 915 F St. N.W. Monthly Payment Loans Straight Three Year Loans S INTE breasts. | property should consult us. will receive prompt and courteous attention. Loans Repayable Monthly REAL ESTATE LOANS on Improved Property LOANS Made on Improved District of Columbia Real Estate Security Monthly payments as low as $7.50 per $1,000 First Mortgage Money For CONSTRUCTION LOANS and LOANS ON IMPROVED RESIDENTIAL PROPERTY in the District of Columbis 5% Prompt action B. F. SAUL CoO. 925 15th St. Natl. 2100 First Trust Loans For Purchasing a Home or RE-FINANCING EXPIRING TRUSTS NO COMMISSION CHARGE NO RENEWALS REQUIRED Terms Arranged on Easy Monthly Payments MIMBER BUILOG & ASIOCIATION COUNCIL of D.€. Perm arierii BUILDING, ASSOCIATION PERY: 949 IflN‘l’H STREET NW. | Equitable Co-Operative Bldg. Ass'n ASSETS $6,492,976.24 55th ¥YEAR CO! IMPLETED. WALTER S. PRATT. Jr.. Secretary ssue of Stock Being Received Do You Desire a Loan —on Real Estate or to Take Up First Mortgage? TIHOSE desiring money to purchase a home, refinance present indebtedness or improve Applications Repay Your Loan Nat. 1741 % REST Consult Real Estate Department AMERICAN AND TRUST Main FIFTEENTH STREET AND SECURITY COMPANY Office PENNSYLVANIA AVENUB Branches 7!1; and Mass. Ave.,, N. W. Eighth and H Sts., N. E. Seventh and E Sts.,S. W. 1140 Fifteenth St., N. W.