Evening Star Newspaper, July 3, 1935, Page 11

FINANCIAL. ‘SECONDARY RAIL BONDS GO DOWN * Active Selling of Southern! Issues Brings Decline in Late Trading. . By the Associated Press. NEW YORK, July 3.—Railroad ‘'bonds of secondary rating tipped - downward sharply in the late trading as further active selling appeared in the issues of Southern Railway. In contrast with weakness in the carrfer section, utility and industrial loans forged ahead over a wide front. Among the rails down a point or more at the close were Baltimore & Ohio 6s and 4'%s, Ontario & Western “'4s and Pere Marquette 5s. Southern Railway 5s were forced down 3% and * the 4s yielded 2'4. Loans of Southern Pacific and Erie showed good resist- ance United States Governments finished 1-32d of a point lower to 5-32ds high- | er, with gains prrdommnling. e LACLEDE GAS ARRANGES TRUCE WITH HOLDER By the Associated Press. ST. LOUIS. July 3.—A truce in the suit of J. Lionberger Davis of St. Louis asking a receiver for the La- | clede Gas Light Co., has been arranged with election of Davis and his attor- ney, Wilbur B. Jones, to the company’s | directorate, it was announced. Davis. a stockholder. filed suit May 15 charging mismanagement and waste of assets. He is president and chair- man of the board of the Security Na- tional Bank & Trust Co. The Laclede Co. is controlled by the Utilities Power & Light Corp. of Chicago. NATIONAL INVESTORS ASSETS SHOW GAINS | By the Associated Press NEW YORK, July 3.—Increases in * net assets per share of preferred stock from December 31, 1934, to June 30, 1935, was shown in reports of the Sec- ond, Third and Fourth Natonal In- vestors Corps. Second National reported assets of $77.57 a preferred share as of June 20, compared wth $69.78 at the year end: Third National. $29.15 June 30. against $2647 December 31, and Fourth National $35.52 June 30, against $32 December 31. SOUTH DAKOTA ISSUES $7,000,000 RURAL BONDS By the Associated Press. PIERRE. S. Dak.. July 3.—The largest single bond sale in South Da- kota's history, a $7,000,000 issue of rural credit refunding bonds designed to solve the department’s refinancing | problems for at least six years and re- sult in a large interest saving, was announced by the State Rural Credit Board. ‘The new issue will be dated August | 1 and draw interest at 4 per cent. The bonds were sold at par plus accrued interest and a $7,000 cash premium, making the actual interest rate equivalent to 3.98 per cent. CHICAGO STOCK MARKET CHICAGO. July 3 (#.—Follow! complete ComICIAL iist" Of (Pansections ‘i stocks on the Chicago Stock Exchange today: es. High. Low. 5 100 Aliorter Bros pf 31 21 m’.“’lme 100 Armour & Co. 50 Assoc Invest 100 Autom Prod 200 Bastian-Bless By private wire direct to The Star. Approximate Transactions Today. Domestie Bond: LIBERTY. High Low. Close. ¢th 435 1933-38.. 10124 10124 10124 TREASURY. 2%s 19556-60. + 10121 10119 10119 eess 10325 10323 19324 10330 10326 10330 063 106 1062 « 10426 104 26 10426 S%s 1941, . 10%19 10819 10819 3% 8 1944-46..... 10613 10811 10612 3% 1940-43 June 108 17 108 15 10817 3%851941-43 Mar. 10822 10818 10818 3% 5 1943-47, 10720 107 20 10720 lil 1946-66..... 11014 11013 11014 . 112 11129 112 ‘A -3 s 1943-45 10622 10618 10618 4% 8 1947-52 . 171 N71 1171 FEDERAL FARM MORTGAGE. 23%51942-47..... 1014 1012 1014 .1029 1028 1029 3 . 1025 1024 1024 3%s 1964, . 10324 10320 10324 HOME OWNERS' LOAN. [2%s 1939~ . 10023 10016 10022 . 1024 102 1024 FOREIGN BDNhDS Abitibl Pa&Pw 6853 274 Akershus 58 °'63. Antioquia 78 ‘4 Antioquia 78 '45 Antioquia 7s'45C. ... Antiognia 1st 78 '57.. Antioquia 24 7s 57 Argentine 6s'57 A... | Argentine 6s ‘58 B. .. | Argentine 6s ‘59 June | Argentine 63 '59 Oct. | Argentine 6s ‘60 May | Arzentine 65 60 Sent. | Argentine 63 °60 Oct Argentine §s 61 Febr Australia 4 Australia 58 '55. Australia 6s ‘57, Austrian 7s 67... Batavia Petr 41%s'42. Bavaria S 61 °45... Belgium 6%s 49 | Belgium 78 ‘56 Belgium 7s 5l Bergen City 68 Berlin 6" Rolivia 41 Brazil 6%s '28- | Brasil 6% Brazil 1s Brazil 3s 41 | Bremen St 7s '35 Brisbane bs ‘538 Buenos A C 6s ‘60 Ocl Buenos A 6s 61 Pv. Buenos A 6861 st Py Buenos A 6%45'61stPv 348 1949-53. Close. 2% 95% Cauca V; | Chile 63 60 Chile 6 '61 Febr Chile 65 '61 Sept. Chile 6s 62 | Cnile 68 '63 i Chile 7s "42 Colombia 6s ‘61 Jan.. (n.le Mtx Bk | ¢hile Mtg Bk Copenhagen 4%s ‘53, Covenhag: Cordoba 78 '42 Prv. Cordoba 7s 57 stpd... Costa Rica 78 ‘51 A May coupon on.. 891 348 33% 106% 1053 105% 106 106 105 0% 90 90% 9K% 9Bl 984y 104 103% 104 66% 661 66% 38 48 38 38 38 38 106% 106% 104 104 108'% .IWK 108% 24 24 179% 179% 179% 176% 176% 176% 39 39% 30% 30% 30% 49 26% 42 Dominic 1st 53%8"42. Elec Pow Ger 6%4s 53 | El Salvador 8s'48 ct. | Finland 63 45 . Finiand 6%s ' . Frameric In 7%s "42. Frankfort 6%s 53... French Gov 7s 4! French Gov 7%s "41. GerCBk A 6s'38.... Ger Gen E) Ger Gov 5% Ger Prov & Cit; con Ag e % Ger Rep 78 “49. Good HS & 1 78¢5 GrtBr& Ir6%s37.. Grt C El Jap 6%s '50. Grt C El Jap 7= 44 Greek Gov 6s ‘68 .. o1 | Hamburg St 6s 46 B 30 Tf Nor Bt Bt A0 Kalamazoo Stove atz Drug y Ut Jr_cum pf 200Xen-Rad T & L. Dredg - 300 Mereh & Mirs A 650 Mid West Util__ 10 Monroe _Chem, pf 50 Montg Ward, 138 50 Musk Mot 99 Iy 70 Nat Battery pf._ 100 Nat_Stand 400 Noviitt"Sparks 150 Nor Am L & P 230 No' We UL 5 of 400 Nor'west_Bancrop Bom)s 1.000 Chi Rys 55 '27 A 27 Bond sales today—$1.000. e COMMODITY PRICES NEW_YORK. July 3.—The Assoclated Press wholesale price index of 20 basic commodities today advanced to 69.99 The previous day 1t was 6785, & week =5 o month aco. 70.05. and 4 27 e Hante of recent vears: Hish - ¥l 3 - 69.14 56.61 ge equals 100.) Markets. Add Monll Ne' York markets (as com- v_the Associated Press): AR—Putures No. 3 closed steady. 1-.;' ower: sales, 12700 tons.” July. o Dect T March. 5.14b; % COFTEE—Spot_quiet; Banton Mo ARk Gost and freight of. ferings_included Santos Bourbon 35 an 0-00._Rio ture rosed” parely i ember. 5200+ Santos fu- mmm Jl!ll. P March 470 tures L.B:ely stndy ulu Hareh TR cmmr RobBER 1. standard. ' January. 13 68n: 12, o gmn ed rib- LK Putures closed steady. 1 higher 0 % lower: sales. 180 bales.” Jub 1 Jai 1 ogen mlrkfl auomlom (60-dny basis) ghai fiature 75 per cent seri- 30 "Ganton"double extrs 4- Japanese special erack double sxtra Ri per cent seriplane 13-158, ‘b—Bid. n—Nomin Harp Min 6549 ww. | Ilseder Steel 6548 Italy 7861 Japan 51865, 99% 2 42 | Kreu&Toll 68 37 Medellin 6%s ‘54 Met Water Hn 36% 9 LN 70 69'% 101 100% 101 100% 100% 100% M 1% TT% B0% 49% 49% 101 100% 101 101 101 106 106 106% 106% 106% + 1034 102% 108 984 98 98 831 83w 831 894 9% 89 101% 101% 101% 100% 100% 100% 58% Y N.w So w. 55757, So Wales 58 '5: Nor G.r Liloyd 6s ¢’ Nor Ger Lid 6s'4Tnew Norway bs ‘63 Norway i%l 65. Norway 65 '43. Norway 6 u. Norway 6s '52. Norw Hv El 5%s '51. Oriental Dev 6%s Oriental Dev 6s 53.. Oslo 68.'55 OsloG & E 58 Panama 58 63....... Panama 58'63 stp asd Paulista Ry 7s'42.... Peru 65 °60. Peru 6s 61, Peru 7s ‘59 Prussia 6%s Rhein-Main 7s '50. Kninelbe Un 7s 46 Rhine W El P 6s '53.. Rio de Jan 638 ‘53 Aug coupon off. . | Rio de Jan 8546 Aoril coupon oft. Rio Gr do Sul s 83 June coupon off. . Rome 6148 '52 Rotterdam 6: Rumania 7s 69 Aug coupon off. , Sao Paulo C 6%s 57 May coupon off.. Sao Paulo St 6s 3 July coupon off.. Sao Paulo 8t Ts 40 .. 5 Svflnlv 6%s 85 Taiwan Elec 6%s 1l. Toklo 6%s "61. Tokio E1 Lt & Uligawa B P Un Stl Wk 6%s Upper Aust 614857 unm coupon on. . Uruguay 6s ‘64 . Westphal EI P 37 a1 %7 Yokohama 6s '61. . 89 ss% 89 DOMESTIC BONDS. Abr & Straus 6%s 43 10‘% NM* wm Adams Exp 4 Alb Per W P Alleg Corp i Alleg Corp Alleg Corp b8 u stp Alleg & Westn 4s°'98. Allied Stores 4%s 50 Allis Chaim bs 37... Am & For Pw 533030 Am Ice cv bs ‘53 Am 1 GChb%s Am Intl %8 49 MU 9y 34w 344 10114 101'% 101% 38% 38% 38% V4% 94N 94y 1013 101% 101% 0% 694 70% 8% RT% 87% 111 110% 111 U 94 9% 102% 102% 102% 101% 1014 101% 107% 107% 1078 XM 108% {::\‘ Mississippl Power & Light Co.—Pre- - ferred share earnings, 12 months ended May 31, were $4.43, vs. $5.59. s Anglo Ch Nitr 78 45. Ann A 1stex In ¢8 95, 13% 124 12% 61% 61% 614 THE EVE NG STAR BOND AVERAGES Compliea by the Associated Press. — Low. Close. 100% 103% 1064 106% 103% 1031 1041 104% 104% 105 110% 110% 108y, 108% H Armour & Co 438 39 Arm of Del %s Armstrg Cork bs dj 45°95. . A T&AS Fe llfil 8 A T&S FeC A 4%#'62 Atlanta & Bir 4s l1 Ati Coast L 1st 43 Atl Coast L clt ¢s '53. At1IC L und4%s 64 . Atl Col Atlantie & D 1st 4s ‘48 Atlantic & D 24 4’48 At] Refin deb 6s 37., Baldwin Loco B & O Swn 63 °50. B & O Toledo ¢s 59 Bang & Aroos ¢s ‘51.. Bat Crk & St 3s°'89. Bell Tof Pabs 43 B.. Bell T of Pa 5s ‘60 C. 55 Bot Con M 6%s'34 ct Bklyn M T6s'49 A... BKiyn M T 6363 A... Bklyn Un EI bs 60, Bklyn Un Gas 58 °45. . Buft R&P con 4%s 57 BCR&NcIb6s'34... Bush Term cn §s '66 Bush T Bldg és By-Prod Ck 5% Calif Packing 4 Can'dian Nt R 4% Can'dian Nt Ré %854 Can’dian Nt R 438’67 Can’'dian Nt R 6 Can’dian Nr db 7s "40. Can'dian Pc db4sperp Can'dian Pe 4348 ‘46 Can’dian Pe 4% Can'dian Pc 68 '64. . Cent of Ga 1st 58 *45.. Cent Il E&G 63 '51.. Cent N Eng 4s ‘61 Cent of N J gen Cent Pac 1st rf ¢s"49. Cent Pac 1st 4s 49 rg. Cent Pac ba . Cert'd deb 5% '48. Chesap Cevel bs 44, Chesap Corp 63 "¢7. C&04%8'93 A C&O4%s'9%6 B C&0 R&A 1st s CM&StP 4%8 "8 CM&StP bs 76 CMStPAP adj 55200 Chi& NW gn 3343 ‘37 Chi & NW gn 48°81. Chi & NW 4182037, Chi & NW 4335 2037C Chi& NW 4% 49... Chi & NW 4% '87 Chi & NW gn § Chi& NW rf s C& NW Nr W 64 Chi R 1&P rf CRI&Pd4%s Chi T H&S inc 5s '60. Chi Un Sta 6s 63 B Chi& W ibys " C&WI1 ist rf 5%" Childs & Co Chile Cop d Cin Ga Cin Un Ter 5s 2020 B CCC&StL C div 4s'39. CCC&StL gen 4s°93.. CCCAaStLrf 4%3'11B CCC&StL rf & D Clev Un Ter ¢%: Clev Un Ter 6313 B. Clev Un Ter 64s'12A Colon O1) 63 '38. Colo ind ¢l tr bs ‘14 Colo Fuel & | Columbia G & E 0% | Columbia G&E 63 '61. Com Inv T 8148 49 Conn R&L 4%s'51 st Con Coa! Md rf 6s 5 Con Coal Md II’SO of; 107% 107% 105% 105% 105% Consumers Pw s ‘52. 106% Container deb 6343 Container €8 . Crown C & S 6347, Cuba R R 1st 6s 632.. Cuba Nor RR 5%s ‘43 Cuba R Rref 7%s 36 Cumb T & T 68 37 ) Den& RG W 68 '66. Den&RGW 65'56 & Den & R G rf 687 Det Edison rf 58 49 Det Edison b8 ‘63 Donner St ref 7s'42 Duqu Lt 4% B Duqu Lt 18t 4% East Cuba S 738 37, ETV&QGacobs 66, Eriecv 4868 A. 16% 16% 1074 1075 110 110 103 103 110% 110% 104% 104% 17% 17 17% 106% 106 106k 99 99 9 4% Taw T4% % Te% Td% 1015 1015% 101% 8% T84 18% 64y 64% 64 64k 9y 98 Mk 94u % % 6% 6% 59 89 101% 102 8% XT% 105% 1054 9% 100 Fla EC Ry ¢%s 59 Gen Am Inv 82 Gen Cable 63%s ‘¢ Gen Elec deb 3842 Gen Pub 8ve b 3 Gen Thea Eq & Gr Trk of Can ¢a 36. ‘Goodrich és "4 ¥ 49 W9 108% 108% 108% 105 104% 106 . 104% 104% IMK GtN R gen 4 88 Gt N R gen 4% Gt N R gen bs "" C. ’I% Gulf Sta Stl $34s 42, Hoe Val 4%8 '3 Houston O} l? H'satonic con 7 Hudson Ceal §i 96% ll'l\t 116% 117% 197 96k :: 8 82 40% 404 40% ' 20 10 ‘97.3 97.2 95.4 893 1932 low Hud & Man Ine 58’57, Hud & Man ref 68 '67. 111 Bell Tel 63 '68 111 Cent coll tr 4s 111 Cent eoll tr ‘5 BI. 111 Cent ret 111 Cent 4% 111 Cent 6% 111 Cent Lou 3%3 111 Cent WL 1st 4s 51 1CC&ST L NO b3 111 C St L & NO bs 'il 111 C StL No 5851 r;z Inland Sti 4%s Int R T 1strf 68 IRT s rtbl 6 ctfs IntRT 6833 Int Ag col 58 '¢2 stp. int Cement 68 48 Int Gt Nor 6s 52 A... Int Gt Nor ad) 6s'52A int Hydro EI 68 ‘1‘ o int Pap Ist Int Pap ref Int Rvs of C A b: Int Rysot CA INtT&TCvak%s 39 Int Tel & Te! 4%3'63. Int T&T 6 Inv Eqbs 48 B ww James F&C48°39... Alleg&Ge b5 '33. CF&M r! 36cts & E4% C Sou 1st 38’5 Kan C Sou rf in 68 ‘50 Kan C Ter 1at ¢s 6 Keith 63 46 Kendall 638 "8 ww.. hlnn County El&Pw Kings County EI&Pw pur mon 6s'97... Kings County Elev Lautaro Nitr 6s '64. .. Leh C& N 44%s N A.. Leh Val Har 63 °84... LVNY4%s'40gtd. Leh V Pa con 4s 2003, L V Pa con 438 2003 L&NTf6ks 2003 M'Cro'yS 6%s'¢1flled Marion St 8h Market St Ry Mich Midvale MIIER&SLEés ¢ MilE R&S L rf 68 71 M1l Spa & N W 4847, MStP&SSM cn ¢s ‘38, MSt PASSM 68 '38 mte¢ MStP&SSM 6%s ¢ Mob & B(rmlnxhum 4s'45 small. .. High. Low. Close. 32% 32% 3% Xbla Hd% 6% 110% HIJV- 110% T4's 61 “’i l'l 8% T8% 8% 63% b53u 634 % 105y 60 Mohawk & M 4591, . 1 Mont Cent Mont Cent Mont Pwr ref s '43. Mont Pwr 58 63 A... Mont T gn rf 5865 A. Morris & Co 4%s 39, Mor & Esx 3%s 2000 Mor & Esx 43486 Mor & Esx Nat Dairy 6% NatDis PC4%s'45 Nat Steel 45’65 Nat Steel 68 ‘58 = New Or Ter 1st n 63 New E T&T ¢%s'61. New E T&T 1st 6s 63 New Or T&M 68 ‘56 c Cent rf 4%s lel Cent rf¢1%32013n Cent rf 55 2013.. o TrIxTIn’s z - 22222221 SEhpreR wye ine i wys 63 65 A. team 658'56 W istrf 5' Il uxnx I L LLrreee W ZZ2ZZ2227222 n § w0 North Am B4 §¢ North Am Ed §%s ‘63 NornO T& L 6s'4 Nor'n Pac gen 3s 2041 Nor'n Pac 43 '97. Nor'n Prc ¢ %48 :ou s Ore WRR&N da’6i Otis Steel 85 °41. PacG& Ebs Pac Tel 1st 6o '37. Pac T&T ref 6s ll Pan-Am PC Chl 8°68...0 4. 87680 104% 104% 9% 99% 6215 lD'lK 107% 69% 70 56 56 107% 107% 107% 107% 112 112 113% 113% 881 881 101 101 30% 106% 106% 106% 109% 108% lWh 64 54 lll!( llllfi llll‘ 22 21\6 Zl‘fi High, m cluo .. 108 47, 107 l“h l“\i 116% llik lllk Pere Marq ¢%s '80... 80 Pere Marg 1st s 66.. 884 Phila B&W 4s°43.... 111 |u Phila B&W 4%a '81.. 111% 111% 111% Phila B&W en 5s (4. 118% 1181 118% Phila Co bs ‘67 My 98y % Phila Bl Co ¢8°71.... 107% 107% 107% Phlia El Co ¢348'67.. 109% 109% 109% Phila&RC&1 60 59% 60 Phil RC&1 9 38 36% 364 Phillips Petr 5% l' 108 Philippine Ry lll C PCC&StL 6875 B.... 114% 114% 114% Pitts&WVa 41,5'60C 615 61 61% Port Gen El 4%5°60.. 70% 69% 70% Porto RicoAT6s 42 51 61 51 Postal Tel & C §: 30% 30% 30% 49 46% 49 Pub S E1& G 43'71... 107% 106% 107% 107% 107% 101 101 101% 101% 95 95 YRS, 9B% 108 102 1084 108% 2% 33 3% 108% 103% Purity Bak bs ¢ Reading Jer C 4 Reading R 4%8 97 A. 106 Rem RA5%8 4TAww 103% P bs 55.., 360 A. .. ‘60 A ctfs St L SW gen rf b3 St1. S W ist Ter StPM&MPac ex s ‘40 St P M&M ext 53 ¢3.. St P U Dep ref 63 "72. San A&A Pass ¢x'43, San An Pb S 6s ' Seabd A L 6 Seabd A-Fla 65'35A ¢t Shell Un O1l 68 Slerra & 8 F P b Sine Con O ¢ Sine Con O 7s So Bell T&T 6. 80 Colo Pwr 6s 47 A. Southw Bell T bs u. Stand O1 N ¥ 4 %s'51 Stevens Hotel 63 '45. . Studevaker ev 6 Swift & Co 338 Tenn El Pw 6347 A.. Term As St L Term As con Texarkana 5% Tex Corp cv b Tex& NO s Tex & Pac b Tex & Pac bs D. Tex & Pac 1st 68 2000 Tex & P MPT 6% 8'64 Third Av ref [ Third Av 1st Third A ad in ex 117% 117% 100% 100% 100% 2] 52% B4 101% 1014 1014 21% 21 21 904 90% 90 107 106% 107 111% 111% 111% . 107% 107% 107% . 106 106'%4 1064 114% 114% 114% 107% 1074 107% 1 90% 91 6Y% 95U 96 24 24 24 117% Un Pac 1st ¢s Un Pac 1strt Un Pae 4%z 67 Un Pac 1st rf 58 2008 . Unit Biscuit 68 "5l Unit Drug 6s ‘63 . 122% 12214 122% 46% 45% 464 49 48% 49's 8% 8% 784 111% 111% 111% 108 108 108 107% 107 107% 1113 111% 111% 66 66 66 Wabash 24 5s ‘39 Walworth 6s 45 A. West'n Un bs ‘61 West'n Un bs Younxtn SATbs'10B 95% 95 95% Youngtn B&AT Ss'T8 A 96l ¥4% ¥5% —_— DIVIDENDS ANNOUNCED NEW YORK. July 3._Dividends de- flared iprepared by the Stand - o y ndard Statis. Extra, FO: B(k.r%( Pay- reco Latin Am Bond Pd_ Nat Liberty Insur_ ”.5;: Optional. Am Cities P & Lt (1 share B stk or 7be ---Q Accumulated. Crosse & Blackwell 1st pf__ Spé - Inereased. h-nnm!rlen Corp___15¢c 8A Walgreen Co 3bc . " Us Extra, Homestak Mining Co._$2 M Rerutar. Am Equitable Assur___25c Q@ Baltimore Am Ins Bene{ Indus Loa: Ben Ind Loan Co pf_| R"‘/.C Q Brit Amer Tobbaco— Adr 1 B’ ¢ oo! Gentury Rofi ulus pIsL7 o O Do. pf E. Latin PAm._Bong P Metal & Thermit_ Monroe Cal Mch pf_$1. Nat Liberty Insur. Nicholson File Pitts, Cine. Ch 106% 106% 106% | H 894 89K 89y 100% 100 100% 108% 108% 108% lom 101% 106% 106k 106% 112% 112% 112% 105% 105% 105% 2% 9% 92% 106% 106'§ 106% 106% 106% 106% 109% 109% 109% 4 4 a1 9" 123 % 9% 96 96 89 89 X9 106 106 106 106% 106 106% 108% 106% 106% 106% 106% 106% o 107% 1074 107% 115% 116% 115% lhly “deman m-nu—ne nu Holland. Y coslavie. 4.50; siovakia. 4. 9 00n: flfifln Rumnl ] 8.63n: Arsentina. 29.80: Shani Mexico City. % 3 99.68%: New York ln )lonunL 100 n—Nominal. —_—_— HEADS DISTILLERY FIRM. NEW YORK, July 3 (.—James F. Brownlee, who resigned as vice presi- dent and director of General Foods Corp., has been elected president and director of Frankfort Distilleries, Inc., of Louisville, it was announced today by Lawrence Jones, jr., clwrmln of tht Executive Committee of Prank- Yerl 31%. » , WASHINGTON, D. C., WEDNESDAY, JULY 3, 1935. *¥® A11 BONDS ON NEW YORK STOCK EXCHANGE EGG PRICES HIGHER ON D. C. MARKET Advance Mostly One-Half to Cent—Receipts Lag as Buying Expands. Egg quotations were firm and mostly one-Lalf to a cent higher on the Washington produce market to- day. Receipts declined moderately and buying expanded. Live poultry was steady to firm. ‘The summary, with egg and live poul- try prices furnished by the Depart- ment of Agriculture, follows: STOCK—Hogs. 9.5009.75; he roughs, 5.00a7.00: Dij 4.00a7.00. Spring lambs. 4008 t firm and mostly % to 1 cent higher. Recelpll declining moderately. TAth buying showing seme expansion. Cur: rent receiots, hennery whites. 24a 26'2: Governmi (lr‘lltludlnl ln- 8. standards, £ PG Pancy Leghorn chickens bringing 1 cent Fow! colored. 5 pounds and Ppounds. 14; 19816, Plymouth Rocks. un over 31, pounds 16a17; toms, 14ai6. a few at 16 cents 2 pounds. Z0a 23; turkeys, hens, Gold Production Climbs to 276,000 Ounces in Month By the Associated Press. NEW YORK, July 3.—Production of gold in the United States during May was estimated by the American Bureau of Metal Statistics at 276,000 fine ounces, against 251,000 in April. For the five months ended with 1,262,000 fine ounces. World production in May was estis | mated by the same authority at 2,407,000 fine ounces, against 2,290,000 in April. For the first five months world output was reported at 11,- 461,000 ounces, Imports of copper into the United States during May totaled 29,070 tons, against 19,068 in April. May exports were 14,303 tons, compared with 24,674 | in the preceding month. Zinc imports totaled 40 tons against | 101 tons in April. May exports were 25 tons, against 224 in April. tons, against 266 tons in April. SALES. Capital Traction 55—8$1.500 at 9704 $1,000 at 9714 $1,000 at 9714, 81, 000 at 9714, $500 at 97Y. City & Suburban 9&—81.000 at 883, $1,000 at 8815 Washington Railway & Electric 45— | $1.000 at 105. Capital Transit Co.—8 at 19, 10 at 19, 10 at 19, 5 at 19. Potomac Electric 5!2% pfd.—1 at 114. AFTER CALL. Potomac Electric 5% % pfd—10 at at 11415 Potomac Electric 6% 11013, Anlct;llh & Potomac R. R. 55—$1,000 at 91. Notice—Beginning Saturday, July 6, this Exchange will be closed on Satur- days during July and August. Tomorrow, July 4, this Exchange will be closed. Bid and Asked Prices. BONDS. PUBLIC UTILITY. American Tel. & Tel, 4! & Tel. col_tr. 5 Anacostia & Pot. 5s | Anacostia & Pot. Guar. 55 prd.—100 at Georgetown_Gas Ist Pot. Elec. Pow s, Potomac Electric, :s. Wash. Barber & Ross, Inc.. Chevy Chase PUBLIC UHL"! Amer. Tel. & Tel Gapital Transit Co. N Stea; & EL Ry & El fll& sb . NATIONAL BANK. Capital (4) —eee-.. Liberty () Lincoln (5) | Riggs | Riges pfd. Washington R [ 6) | | Amer. sec. | Natl Sav. & Tr. [ Wb Toan &t Tr. | | American (12)_ Corcoran (2 507 n's_(1.60 | Columbla (. Real Estate (6 rpel_Corp. D C._Paper M(l it ‘Bromo- 135 cents extra. tFlat. AMERICAN WATER WORKS NETS 86 CENTS A SHARE Special Dispatch to The Star. NEW YORK, July 3.—American Water Works & Electric Co. for the year ended May 31 reports net earnings, equivalent after payment of preferred dividends, to 86 cents a share on its common stock, compar- ing with $1.43 a share for the year ended May 31, 1934. Consolidated income account for the month and 12 months compares as follows: 1935.% May gross_ $3.874.416 $3. !69 569 Boance ater oper- atine _expenses. nllnun-m and Tweive B 1.880.859 44,655,299 1,822,038 46,717,004 nce l‘uY 0”1" Maintencace and and e 22,003.453 22.770.091 -fl'l- after all es 2,698,950 3.704.882 200.000 1.200,000 red H tock 1.498.950 2.504.852 ~74! no8 1 ‘"I wyur 193 " 415 in lD.‘M.. Al ires subjec they contain arnings tor [} -~ hams. | site to deposit insurance, the Senate . o order to stay in the deposit insurance | ULTRY —Market steady to firm. | May domestic output was placed at | Exports of lead amounted to 110 | | Was@; Exchange 11415, 10 at 1143%, 10 at 11415, 10 - | and present indications show that very ! FINANCIAL, HOPES FOR UNIFIED BANKING DWINDLE Federal Officials Believe| Success Is Unlikely, De- spite Compromise. BY FREDERICK GARDNER, Associated Press Pinancial Writer. Hopes of early attainment of a uni- fled banking system, a long-sought goal, are fading in Federal banking quarters, despite a compromise worked | out in the Senate redraft of the| Eccles bank bill. | After the House balked at forcing non-member State banks into the Federal Reserve System as a prerequi- ||| LOANS AT 59, eon Sowntewn eentrally-located busi- 5o apartmeni house bnc -ufls Reasonable commis- Tyler and Rutherford, Inc. 1520 “K* St. N.W. Natl. 0475 MASSACHUSETTS INVESTORS’ TRUST Prospectus Will de Sent on Request A. 8. GovLpeN & Co., Ing. Woedward Bldg. NatlL 2000 Massachusetts Investors Trust Prospectus on Request William W. Mackall, Jr. Investment Securities |_ 218 Woodward Bidg. mumt s481 subcommittee sought middle ground in | rewriting the bill by exempting non- | member State banks with deposits of less than $1,000,000. That would mean only about 980 | out of some 8,800 State banks would have to join the Federal Reserve in ENTERPRISE BUILDING ASSOCIATION 7¢h St. and Ind. Ave. N.W. LOANS Made on Improved District of Columbia Real Estate Security Monthly payments as low as $7.50 per $1,000 fund. | But doubt was expressed in admin- | istration quarters whether even that compromise would get by the House | in conference, assuming the bill as redrawn by the Glass committee is ap- proved in the Senate. Oppose Forcing State Banks. Sentiment in the House was saia to be predominantly against forcing | State banks to join the Pederal Re- | serve via the Federal Deposit Insur- ance Corp. | Moreover, there has been some Ap-[ prehension that the deposit insurance | fund might become less attractive if | it were used as club to drive State banks into the Reserve system. | But officials pointed out the bill opens she way for progress toward uniform banking practices under guid- ince of the F. D. I. C. | Outstanding, it was noted, are broad | powers to enforce sound banking prac- | tices among F. D. I. C. members and | to require non-Reserve members in | the insurance fund to adhere to maxi- | mum interest rates prescribed by the Federal Reserve Board. | The latter was inserted in the Sen- ate redraft. | Since most banks belong to the in- surance fund, the proposal for uni- | form maximum rates on time and savings deposits among all insured | banks apparently would end worry [ over the possibility of destructive com- ' | petition in returns offered on de- | posits. Believe Entry Unnecessary. Analysts of the bank bill say a pol- ey of “conscious control” of credit | facilities. as aimed at in the bill, would not be thwarted if non-member State banks remain outside the Ped- eral Reserve fold. ! The 6,400 banks in the system, it | was said, hold about 85 per cent of | the Nation's deposits, aside from those | in mutual savings banks. 1 The entry of non-member State | {banks with deposits in excess of | | $1,000,000. as provided in the Senate | committee compromise, would lift the | proportion to more than 85 per cent. | On basis of year-end figures, it was | calculated total deposits in the Re- | serve system would approximate $37,- | 000,000,000 out of a possible $39,500,- | 000,000. | l' SHANNON & LUCHS First Mortgage Money Funds Available for CONSTRUCTION LOANS or LOANS ON IMPROVED PROPERTY I} Reasomable rates Prompt action B. F. SAUL CO. 925 15th St. Natl. 2100 FIRST MORTGAGE NOTES AVAILABLE Secured on Homes Safety and Yield Combined _— CHEMICAL INDUSTRY SHOWS PROGRESS' | Comparative Stability During De- pression Also Cited by Re- view in the Index. Speclal Dispatch to The Star. i NEW YORK, July 3.—The chemical industry gave signal proof of its es-| sential stability during the depression 1505 H St. NNW. NAtional 2348 LOANS ON HOMES District of Columbia and nearby Mecntgomery County, Md. Monthly Payments $7.50 »= *1,000 No Commissions No Renewals COLUMBIA BUILDING ASSOCIATION 716 11th St. N.W. | marked progress is being made toward full recovery, according to the Index, ' of the New York Trust Co. “The technical developments of the last few years,” the bank review de- clares in its July issue, “have enabled the processing industries to reduce op- erating costs, and the introduction of new chemical products is continually widening the scope of industrial activi- | ties. “Expansion of plant and equipment | and modernization of existing facilities | characterized the past year, while the strong financial position of the lead- ing manufacturers has enabled them to prepare for a future demand for | their products which they feel con- | fident will develop even more mu’kw edly as recovery proceeds.” i Member Home " Loan Bank System Federal and D. C. Building and Lesn League First MorTcAaGE LoANS District of Columhia, Nearby Maryland and Virginia 5% Terms *from 3 to 15 years RANDALL H. HAGNER & COMPANY MORTGAGE LOAN CORRESFONDENT 1321 Connecticut Avenue N.W. Telephone: DEcatur 3600 Equitable Co-Operative Bldg. Ass'n) ASSETS $6,492,976.24 ] - f| somn ST EBEON "Prestaent Subscriptions for the 109th Issue of Stock Being Received 55th YEAR COMPLETED. WALTER S. PRATT. Jr. Secretary Do You Desire a Loan —on Real Estate or to Take Up First Mortgage? Tflosx desiring money to purchase a home, refinance present indebtedness or improve property should consult us. Applications will receive prompt and courteous attention. Loans Repayable Monthly Take 12 Years to Repay Your Loan 915 F St. N.W. Nat. 1741