Evening Star Newspaper, July 5, 1935, Page 17

FINANCIAL. CURB LIST STAGES FURTHER UPTURN Good Demand Noticeable for Utility, Oil and Spe- cialty Shares. By the Associated Press. NEW YORK, July 5—The Curb Market kept on the mend today with good demand noticeable for utilities, oils and specialties. Advances ranged from minor frac- tions to well over a point and were well scattered over all divisions of the list. | Trading was moderately active throughout the forenoon but tapered off during late transactions. BONDS ON THE CURB MARKET. DOMESTIC BONDS. High. Low. Close. Alabama Pw 415 8B mll £ 107% 10742 10 Aluminum C 10244 101% 102 Aluminum L(d 5s 3R El Pow ONY, 15 91 e 97 10374 1041 1915 ll1|; Cit Srv Gas 5'as 8it Srv Gs P 68 Stock and Acme Wire vte (a12%c) - Ainsworth (all) Allied Mills Inc Alum'n p? (1%} Am Beverage __ Am Ct P&L A (3) Am Cities P&L B Am Gas&E (1.40) Am Inv Inc AmLt&Tr pf (1%) Am Meter Co___ Am Superpower Am Superpw pf Appalachan Elec Pwr pf (7) Arcturus Radio T Ark Nat Gas . Ark Nat Gas A Art Met W (40c) Asso ET (p21%sc) ASsO G & E (A)- Atlas Corp ! Atlas Corp war Bellanca Bickfords Inc (1) Bliss Co (E W) Blue Ridge pf (3) Brazil Tr L&P Bufft N & E P pf (1.60) Buffalo Niag & Bulova cv pf Bunker Hill&Sul Cables&Wire pl (al4%c) - Can Marconi Carib Carna Carrier Corp Catalin Corp Celanese 1st pf(7 CentP&LT1% Cent States 7% pf CentrifugalP(40c¢ Chi Riv&M (1%) Childs Co pf | Cities Service Cities Service pf Citles Sve pt BB | Cities Service Pw&Lt $6 pf Clev Elec Illu (2) Colon Oil Colt's PF A(1%) Columbia®Gas & Elec cv pt (5) Columb O&G vte Comnity PAL Cenn LP 55 DD Consm_Power Gont. E 3 Co Cruclgle Steel 55 Com'with&S war Como Mines Consol Aircraft_ Cons Copper __ Consol Gas of Balto (3.60) Cord Corp Corroon & Reyn Corroon & R pf A Cosden Oil (Me) | Crane & Co | Creole Petroleum Emp O & R 68 Erie Light 55 1004 | Fairbnks Mor_5s 103 Federal Wt .‘x,( 1 Firestone Ga P & L 58 ' Gillette S Rz 55 G\En Al%en c 45 10 104a4 Thdo 1003% | Texas Elect nm 111'% | 106% 10315 1043 | + 10005 | A 1 1043 1043, 106% 105% 99 an Lioby MeN & 1, 55 ' Long Teing Lt ds lllrrlnnu!l P&L gl'-t P S 5s " 55 ‘Pow.6s A A Neisner Bros cvada Cant 5% 136 En & ew 58 G & E 5s '4R &F Bs 30 adv nart ! 4% 104% 104% 109 " 109 105 104% 105 102% 1021 102% 81 ~ 81 81 84la R4 84 niw. 1|xh nx'/ v 108, 1 m.m lnu‘/x Rfl‘/ R’ 228, & &R 23 Optnd e 2O e =) 2 ml"‘."l REEESSE %3 HA" Q04 900H o o by 3 > o= 0! LU oyyrny H il 2 bl 2° 085 2859 ) 2%, L) s C=) > e * 0! 555 o H 2, =, [ > % 2 ® o il B> ap ] LR 2 @ By g 10 229 FSE FF SRNRRE RS * cnn 555 DB *‘I ) SSooD0e! mi e eI ) - 103 m:x-’ 1834 93 243 80% 83! 86% !0 Crocker Wheeler Crwn Ck In A(1) Cusi-Mexicana M Distillers C-Seagr Distilled Liquors Do Chemical (2) Dubelier Condens Duval Tex Sulph Armstr Cork(50c) Auto Vot M (50¢) - Aircraft. Bower Roll B (1) - Charis Corp (1'2) Sales— Dividend Rate Add 00. igh. Low. Close 1 i T 150! 1001 17 Am Cynam(40¢)B 35 34 Am Lnundry(iocnoo- Am Lt&Tr (1.20) - Am Super 1st pf__ womanSaam—e oL 1 200s yndicate _ fon Co (1) b50 ) 2 3108 56 10 10s @ mEeee 15 29% Ala Pwrpf (7). 20s 76 19 Alum’'n Co of Am 1250s 56 85% 1% 44 3l 224 30 31y 15% 12% 24% 13% 1l 18 621 Eastp 1st pf(5) 1005100 100s 4 17 1258 8758 1 18 13 21 8 2 1 11 1 3 100s 1 3 8 1 1 1 7 1 2 2 1 tn G&FpfA(6) 400s tn Sta Pw (A) Eastn Sta Pw (B) Edison Bros (1) Elec Bond& Elec Bd&Sh Elec BA&Sh pf ( Elec Pw&Lt 2d pf A Elec Sharehold’s _ Electrog Emp G&F 1% p Emp G&F 8% pt Equity Corp 100s 508 1 50s 14 8 25 30 1% 15 15 28% 6 100% 27 433 HE EVENING STAR, WASHING'ION, D. ¢, Rtock and Sales— Dividend Rate Add 00 fllgh Low Close Ex-CellsO A&Tool Fairchild Aviat'n_ Falstaff Brewery - Fanny F G (50c) - Fansteel Prod Ferro Enam (60c) Flat rcts (a81%c¢) Fisk Rubber Flintkote (1) A___ Fla P&L pf Ford Mot (Can) (1%) A Ford Mot (Can) B (1%) Forem'st Dairy DI Garlock Pack (1) Gen Invest Corp Gen Pub Sve pf___ Gen Tire & Rub Surranrmna 1 508 508 Georgia Pw pf(68) 3768 Glen Alden C (1) Gold Seal Elec Gorham pf ww Gray T P S(ab0c Great Atl & Pac Tean-v (16) __ Great Atl & Pac Tea 1st pf (7)__ Gulf Oil of Pa Hartford Electric Light (2.75) Harvard Br(al0c) Hecla Min (a2bc) Heyden Chem(t1) Hollinger G(165¢c) Holly Sugar Hudson Bay M&S Humble O1 (1) ___ Hydro Elec Sec Hygrade Food 11 P&L 6% pf . 111 Pw&Lt $6 pf__ 1mp Oil Ltd coupon (t50c) - Imp Tob Can (t35¢) Indiana P L (30c) Insurance Co of North Am (2)__ Intl Hydro Elec 8 2 508 - 50s 508 128% 108127% 1 64 1 System ev pf___ 1008 Intl Petr (11%3) Intl Ul (B) Interstate Power (Del) pt Irving Air C (40c) Ital Superpwr(A) Jersey Central P&L pf (533) - Jersey Central P&L pf (1) 5 35‘- % 80s 161 6 1l 1 % 258 67 708 80 Jones&Laugh Stl 250s Kingsbury Br (d) Kirby Petr (al0c) Kleinert Co Koppers Gas & Coke pf (6) Lake Shore M(12) Lerner Stores (2) Libby McNeill&L Lion Oil & Ref Lone Star G(alse) Long Island Light pf B (6) Loudon Pac(t1%) Louisiana L&Ex __ | Lynch Corp (2) Mapes Consol (3) Maryl'd Casualty _ Midland Stl Prod- Midvale Co (h1) Mohawk Hudson 1st pf (4) Mohawk H 2d pr Molybdenum Mont | Moody's Inv Sve Pt pf (3) Moore Corp Ltd pLAT) Mount State Tel & Tel (8) Nat Bella Hess __ Nat Bd&Sh (t1) __ Nat Fuel Gas (1) Nat Leather tP&L pf (6) Nat Rubber Mach N N J Zinc (2) = N Y & Hond (11) _ N Y Tel pf (6%) Niag Hud Pw Niazara Hudson Pw (A) war____ Niag Sh MdB ___ Niles-Bem-Pond Noma Elec Corp__ North Am L&P _ Nor Am L&P pf Nor Am Util Sec 3 2 508 258 2 108137 108117 4 1% 1 344w 1 17% 1 600s 73 3 1 I 3508 16 1 4 Ohio Brass B (al) 250s 25% B’h 14% 15 128 127 64 NEW YORK CURB MARKET By private wire direct to The Star. 8% 8 A% 9 3% 181 26% 6% 18Y% 29 127% 64 69“ 1\ 4915 14% 6T\ 147% 58 3% 1's 30 GAIN REGISTERE BY RETAIL SALES Lull in Major Producing Lines Proves Smaller Than Seasonal. By the Associated Press. NEW YORK, July 5.—Retail distri- bution showed some gains during the last week, said Dun & Bradstreet today in their weekly summary of business conditions. In wholesale markets and in most lines of industry business was slow be- cause of seasonal factors and the holi- day. Regarding the major producing lines, the summary commented that “although the recession in many cases was less than seasonal, nearly all of the lines that charted the course of the leading industrial indices either flattened out or turned downward.” Expansion More Rapid. “The improvement in retail sales which began during the last 10 days of June was extended rapidly during the week, due to the warmer weather prevailing in most parts of the country and the most elaborate preparations for celebration of Independence day | that have been made in years. “In spite of the record-breaking heat wave which prevailed a year ago, the - s | improvement over the good showing of retail sales for that period ranged from 8 to 25 per cent. “Warm weather and special pre- | holiday promotions were sufficient to overcome seasonal retardative influ- ences in the Southwest, as retail sales were up 8 to 12 per cent from the week preceding and 20 to 30 per | cent in excess of the corresponding | 1934 total. Mid-West Gains Cited. “Continuing the gains of the week preceding, retail sales in the Middle West averaged 8 to 15 per cent higher than a year ago.” In the South, asserted the review, sales were smaller than in the week | preceding, but were 7 to 10 per cent larger than a year ago. In the | Northwest the gains ran as high as 5 ‘130 to 35 per cent, but the compari- 26% T3 39 26 2 14% 37 31 0 27 17 1% 3414 175 '+ than $35,000,000 in bonds and deben- ‘y son was made with the drought period of last Summer. Reviewing the results for the first | half of the year the summary said | there were moderate gains in many | | directions “In the face of numerous | retardative factors” and that there has been “a gradual but irregular | uptrend in practically all major | lines.” 4 (udah Refundmg Pldn Is Presented To Stockholders By the Associated Press. CHICAGO, July 5.—Stockholders of the Cudahy Packing Co. today were | presented plans for a refunding pro- gram calling for issuance of not more , | tures to retire outstanding higher in- ., | terest rate obligations. % The plan contemplated “the pres- ent sales or other disposition of $25,- 000.000 of the new bonds and retire- 5% ment of $6400,000 in first mortgage 22% 5 per cent bonds and $16,000,000 in l" {52 per cent debentures. Of the new * | issue, $20,000,000 would be in 334 per 4| cent 20-year bonds and $5,000,000 in 254 4 per cent 15-year debentures. FRIDAY, Slump in Tomato Prices Deals Blow To Eastern Shore By the Associated Press. CRISFIELD, Md., July 5.—Farmers’ hopes of retrieving some portion of their losses from the recent string bean crop diminished today in the face of the drop in the market price of early tomatoes. A bumper tomato season had been anticipated. The market yesterday declined from 65 cents to 35 cents per basket, al- though earlier in the week a high of $1.25 was recorded. The early tomato industry in this county ranks second to strawberry production in importance to farmers, and hundreds of persons usually are employed in local packing houses wrapping the fruit. The market drop was regarded in many circles as a severe blow to farm- ing prospects in this section of the Eastern Shore, HEATHSVILLE, Va,, July 5 (Spe- cial) —Practically all of the local packing houses are overstocked with early tomatoes and liberal shipments are being made by boats and trucks. Prices here slumped to 30 cents per basket Wednesday. Growers seemed in no hurry to harvest their crops. They are beginning to realize that it does not pay to ship the tomatoes too. green. MORGAN DEPOSITS REVEAL INCREASE Holdings of Federal Obligations Also Totals Recorded in March 4 Report. By the Associated Press. NEW YORK, July 5—The com- bined condition statement of J. P. Morgan & Co. of New York and | Drexel & Co. of Philadelphia shows some increase in deposits and larger holdings of United States Govern- ment obligations as of June 29, in comparison with the report of March 4. The private banking firm had de- posits of $360,480,312, against $344,- 1202037 on March 4. Holdings of United States Governments totaled $255,543,401, against $212,352,333. | State and municipal bonds and bills aggregated $32,449,767, against $24,- | 610,830. | Total resources of $430,366,320 com- | pare with $414,702,421 as of March 4. | Capital remained unchanged at $25,- balances totaled $30,268,608, against | $30,163,729 on March 4. —— FOBEIGN MARKETS. | By the Associated Press. | ,, LONDON —With business unexpanded. the Stock Exchange registered an un cided “tone “today. British | 000,000, while surplus and plrmen"c JULY 5, 1935. ASSOCIATED GROSS TOPS 2 MILLIONS Power System Discloses $99,211,696 Revenues in 12 Months. Special Dispatch to The Star. NEW YORK, July 5—For the 12 months ended May 31, Associated Gas & Electric System gross operating revenues totaled $99,211,696, an in- crease of 4 per cent above the previous 12-month period. Operating expenses, maintenance, etc., amounted to $52,259,404 for the period and taxes were $10,672.885. After deducting these items there re- mained $36,279,437 for net operating revenue, Further deductions of $8,858,325 for provision for retirements of fixed cap- ital (renewals and replacements) left $27,421,112 as operating income. While this is $755,558 or 3 per cent below the comparable figure of a year ago, nevertheless the rate of decrease has lessened in recent months. This is evidenced by the fact that this is the smallest decrease reported since the downward trend began 52 months ago. Consolidated statement of earnings and expenses of properties for 12 months ended May 31: Total gross op- erating reve- nues ____ Operating ex- penses, mainte- nance, etc.._ Taxes Total operating expenses, taxes, etc_ $62.932,259 359,319,189 FINANCIAL. Gold Currencies Weak After Drop In Discount Rates By the Associated Press. Gold currencies did not appear to take kindly to the central bank dis- count rate cuts in Paris and Am- sterdam and generally ruled weak in relation to the dollar in today’s ex- change markets. The pound sterLng was a litile firmer in New York after declining slightly abroad. Some foreign exchange circles in New York reported signs of a little uneasiness over the rapidity with which the banks of Prance and the Netherlands have cut their rates from the late May peaks, feeling that po- litical and economic conditions are still a little uncertain in the leading gold countries. In London the dollar was a shade improved at 4.945/16 to the pound sterling, but in New York around mid- day the pound was up one-quarter of a cent at $4.94%5. The French franc lost 01% of a cent in New York at 661% cents, while earlier in Paris the dollar had gained ground at the equfvalent of 6.605 cents to the franc, compared with Wednesday's New York close of 6.635 cents. The guilder declined .17 of a cent | at 68.08 cents, and the Swiss franc| was 09 of a cent lower at 32.22 cents, in New York. AMSTERDAM, July 5 (#).—The bank | of the Netherlands today lowered its | discount rate from 4 per cent to 3% e I per cent. The bank of the Netherlands pre- viously cut its discount rate on June 26 from 5 per cent to 4 per cent. The rate had been raised to the higner figure May 31, under pressure of gold withdrawals. Today's action follows within 24 hours a cut by the bank of Prance in its discount rate to 4 per cent from 3. Net operatin revenue $36,270,437 Provision for tirements (re- newals and replacements) $36,480,451 §,858.3 8,303.781 Operating in- come —-. \112 $28,176.670 SHORT-TERM SECURITIES. (Reported by Chas D. Barney & Co. Bid Ofter California Packing | Canadian_Nor. Ry. Chi’ Northwest 6lgs Jo3g Delaware Hudson & Rio Gr. 4l 36 29 Edison EI Dium 4: 150, " 1Dk Gen. Pul rvice bias 1939 9 Gotham Silk Hos. 68 Grand Tr. Canada 6s 1 Great Notthern Ry 7t 1038 Illinols Central 635 19: | Intl, Tel. ‘s and | | industrials hardened while others rased. | Argentine rails weakened owing to the lower price of wheat. and trans-Atlantic issues were featureless. The market closed | irregular. Rentes | withs dust ol shases. wesk ni Fiuhce thates were sironc while other bask issues declined. ~Electric and chemical | stocks remained steady and internationals moved _ irregularly. The market closed irregular. BERLIN —Improvement in_steel shares helped stiffen prices on the Boerse today Trading was lively throughout the session and quotations closed at their highest | level for the day continued to_ decline PARIS BANK CHANGES. PARIS. July 5 (#.—The weekly state- ment cf the Bank of France shows the follos h in francs: Gold in- bills discounted at 100.000: bills bought abroad increas=d 28.000 00u: advances in reased 8.000.000. circulation increased 1,307 :»gq 000: current accounts decreased of | —_— | OhloOilcupf(6). 3105 105 ;day loans ‘on Government 16.000.000 N 8t. L. 4 | New York Dock 58 1438 B4y Qhio River R R 58 1037 10t Penn-Dixie Cement ds | Vanadium Corp Wabash Rwy. Co. 5s Wa_ner Bros, 63 10 30 N. Y. & Pa. bs 193 LONDON BANK REPORT. LONDON. July 5 (7.—The weekly state- ment of the gank of England shows the following changes in pounds: Total reserve decreased 4.570.000: circulation increased | 4.511.000: bullion decreased 59.000: other | secirities increased 3.447.000: 6 534.000; 000. notes Treserve de- ; sovernment securities West. 2 105% 106 | posits decrease: The 1roportion of the bank's reserve to n:bmxlv is 3281 per cent. compared with 5 eek. | substantial public de- | other deposits | | Ie SW Pub Svc 6 AL Etaley Mfy. o a8 A Sup of Il 4128 Sup of Il 4} Syracuse L 5 Tenn El Pow 8 Tenn Pub Sersu b s Texas Gas Us fis PAL 55 A & L 58 '8 o bat b A Therm fis 65 A U S Rub 6s 36 U S Rub Glas Utah PL 6s A VlIvol oil 7s Va Pub Serv 6s 4 Ve Eb 85 1 105 ms 983 1623 105 g FOREIGN BONDS. Baden Con M Buen A Pr 7s Chile MB fis ' Hanover City Isarco Hyd E sotta Fra 7s Ital S8u Pow 6s Medellin _Col Parana Brsz stp_ Terni 8o 6las '8 Tot el Tty W ww—With warrants. ¥ Without warrants. Si--When issued st (stp)—Stamped. iNegotiability Impaired by maturity. *Companies reported in receivership. Washington Produce Egg quotations ruled steady to firm on the Washington produce market today. Nearby ungraded receipts ad- vanced half a cent. The summary, with egg and live poultry prices furnished by the De- partment of Agriculture, follows: 'rrxn,_o BU Ceapound prints (92 score). rind [ 1-pound prints (80 lco"“ 25 unm—nm 11a20; lamb, 17al. pork ol s\'m bs, a8, EGGS Muer sludy to firm. Pri % cent hisher on nearby ungraded nrx':'n' Cyrrent ,_receipts. 223! hennery Whites. 24Tea2h. - Goverament: graned wn dated white eggs (including grading m'g”"‘t’ nlm . S extras. garge. 3a%: ims, 27 * stand. ards. large. 2RIE. AR LivE POULTRY — Market generally ’ L over the hol 3 and receipis about ample to need few af s und!r 3% Dounds 20a21; 22a2: Turkeys. Hens, uns. 33 PER CENT RETURNED BY RAIL CREDIT CORP. By the Associated Press. NEW YORK, July 5.—The Railroad Credit Corp. has returned 33 per cent of the fund administered by it, accord- ing to a report filed with the Inter- state Commerce Commission. Of the $24,284,209 total of liquidating distri- butions, $10,905,537 has been paid in cash and $13,378,672 credited on obli- gations due the corporation. over 81 1617; | Southn Calif Edis Outboard Mot B _ Pacific G & E 1stpf (1) Pantapec Oil Parke Davis (11)_ Pennroad Penn W&P (3)_ Phila Co (80c). Phoenix Secur __ Phoenix Secur pf_ Pitney Bo P (20c) Pitts & L E (214) Pitts Plate G(12) Power Corp Can Prod Royal(2igc) Prop'ties Real vte Prudential Invest Pub Sve Northn 111 no par - Pub Sve Northn 111 6% pf Puget Sound Pw & Lt §5 pt Puget Sound Pw & Lt $6 pf 1 L weron S M 3 = w S 100; LY 508 38% 1005101% 4255 324 1258 15% Quaker Oats (t4) 208133% Reybarn Co 1] 4 Royal Typewriter 1 Ruberoid Co (1) _ 258 RyanConsol _ 1 St Anthony Gold 7 St Regis Paper 3 St Regis Paper pf 508 Salt Creek P(80c) 5 Scovill Mfg (1) __. 258 Selected Indus___. 1 Selec Industries allot ctfs (33%) 100s Selec Ind pr (332) 1008 Sentry Safety Con Shattuck Den Min Shawinigan Wat & Pw (50¢) Shenandoah pf ___ Sherwin-Wil (3)_. Smith (AO0) ___. South Am Gold & Plat (40c) .__. Sou Penn O (1.20) Southn Calif Ed pf B (1%) 1 2 PfC (1%) Southn Colo Pw A~ Square Deal (B) - Stand i1 O pf (5). 508 Stand Silver & L. 19 Starrett Corp - Starrett Corp pf__. Strook & Co... Stutz Motor Sunray Oil . Sunshine M(1. 20). Swift Intl (2) Swiss Oil (40¢) Taggart Corp Tampa Elec (2. Tastyeast Inc A__ Technicolor Inc _ Texas Gulf Prod _ Texon O&Ld (60c) Thermoid cu pf Tob Prod Ex(10c) Todd Shipyard (2) Trans Air Tr sta__ Union Tobacco _ Unit Carr F (1) RO 8 =N maea - - A R 8 i 50 00 @ b e 10 » €300 bt i e bt B Unit Gas Corp Unit Gas Cor war. Unit Gas Corp pf_ Unit Lt&Pw (A)_ Unit Lt&Pw B Unit Lt&Pw pf___ Unit Shoe Mach (13%) -.-- 3258 U S Foil (60c) B__ U S & Intl Secur. U S Lines pf Unit Verde E 40c Unit Wall Paper_. 1 Utilities P&L _ 16 Utilities P&L pf loo- Utility Equities Venezuela Petrol Waco Alrcraft Walker (Hiram).. Walker Mining... Western Auto Supply (3) A _ W Va Coal&Coke .. Woodley Pet(20c). 2 Woolw(F W)a73e 1 ‘Wright Har(t40c) 18 Yukon Gold __ l 2 15 2 1008 3 year. shio 27y 17 441 70 l’id“) 3 181 61 105 7 0 44n 2 205 zh b'a 56% 69 8 . BALTIMORE GRAIN | - RECEIPTS DECLINE | Corn Is Only Exception Due to ; Argentine Imports—Wheat Drop Large. 1 | Special Dispatch to The Star. 15% K 38% BALTIMORE, July 5.—Receipts of grain here last month, with the excep- tion of corn, showed declines compared with June, 1934. Wheat, with oniy 7.610 bushels, showed the largest de- cline in months, while rye dropped from 137,756 bushels in 1934 to 52,871 bushels this year. Due to importations from Argentina | corn showed a large increase with | 308,705 bushels, against 104,369 bushels in June, 1934. There were no exports of grain last month, compared With shipments of 19,987 bushels in 1934 | and wheat stocks in elevators are the lowest in years, with only 87,066 bushels in storage on July 1, which compares with 266,829 bushels on the same date last year. For the six-month period wheat showed a decline of over a quarter million bushels with 425,528 bushels. against 692,612 bushels during the same period last year. With the excep- tion of oats, which declined slightly. o | all other grains showed large increases | compared with the first six months of 1934. FIRMNESS DISPLAYED BY WOOL GOODS PRICES By the Associated Press. NEW YORK, July 5—The New York Wool Top Exchange reported that, despite the lack of inquiry and sales this week, prices on piece goods remained firm and a stronger tone was noted in yarn and raw wool prices | “Some interest was displayed in buy- ing of tropical worsteds and other Summer wear items, which will be formally opened the week of July 21,” it was stated. “The business done in tropical worsteds so far this year has been large and mills are anticipating heavy initial business of the new lines.” BELL SYSTEM LOSES 8,000 PHONES IN JUNE By the Associated Press. NEW YORK, July 5.—American Telephone & Telegraph Co. announced today that the Bell system in June ‘had a net loss of 8,000 stations, against a loss of 12,000 stations in June, 1934. —_—— BALTIMORE STOCKS Special Dispatch to The Star., BALTIMORE, July 5.— Sale: fi Low. CI 400 Arundel Cnrp_.. 20 716 Blac Decke sem.ek n oDeel bfg" as o o Dugn 113% 119% on 61 Kfers Fin i ” Pld.l.oulr 10* 10% 10% 400 Balto Olly ll 'bl lll 1% 111 1300 Utd R 1] 000 & & A or it s METAL MARKET. YORK. Ju %| NEw 1y 5 (».—Col glectrolytic, spot and future. Bo0; e and ne-iby. Bl 90! O Hate of Giscount. & ber cent, . 2 per cent. CLEARANCES TO DECLINE. NEW YORK, July 5 (#).—Fewer Summer clearances are being pre- dicted for this year by business ob- servers. These point out that mer- chandise stocks, both in retail and wholesale hands, are extremely light, owing to the conservative policy fol- lowed since Easter and to the recent pick-up in consumer bu; in 1934, IMPORTS EXCEED EXPORTS IN MAY Unfavorable Balance Placed at $5,100,000 by U. S. Commerce Report. By the Associated Press. For the second consecutive month United States foreign trade was shown today by Department of Com- merce figures to have resulted in an unfavorable balance in Ma; Imports exceeded exports by $5,100,~ 000. Exports, which usually decrease 1 per cent from April to May, were about 1 per cent greater iu value. Imports, which usually decline about 6 per cent, showed no change. Exports were valued at $165,457,000 in May, compared with $164.188,000 in April and $160,197,000 in May, 1934 General imports totaled $170,559,- 000, compared with $170.580,000 in April and $154,647,000 in May, 1934. During the first five months of 1935, exports exceeded imports by nearly $16,000,000, an average of slightly | more than $3,000,000 a month. ‘Total 1935 exports to June 1 were $853,789,000, compared with $865,- 534.000 for the first five months of 1934. General imports for the first five months of 1935 were $837,803,000, compared with $727,734,000 for the same period in 1934. May exports of gold were $49,000, compared with imports of $140,065,000. April exports were $62,000 and im- ports $148,670,000. May, 1934, ex- ports were $1,780,000 against imports | of $35,362,000 The excess of imports for the first five months of 1935 was $573,791,000, | compared with an excess of imports of | $775,469,000 in the same period in | 1934 Silver exports in May were $2,885, 000, compared with imports of $13,- 501,000. April silver exports were $1,593,000, compared with imports of $11,002,000. May, 193, exports were $1,638,000 against imports of $4,435,- 000. The excess of silver imports for the first five months of 1935 was $70,267,- 000, compared with an excess of im- ports of $8413,000 for the same period Try This NEW ALL-Season BREW .. I¢’s Better! ON JUNE DIRECTORS JOHN JOY EDSON Chatrman of the Board HARRY G. MEEM President WILLIAM H. BADEN Vice Pres. and Trust Officer HIRAM BINGHAM Former U. 8. Senator JOHN H. CLAPP Retired 1 FREDERICK V. COVILLE ‘Botanist, Dept. Agriculture CHARLES H. DOING Vice President L. WHITING ESTES Mail Order House CHARLES R. GRANT Vice Pres. and Treasurer MELVILLE BELL GROSVENOR National Geographic Soci GEORGE P. HOOVER Attorney-at-Law JOHN A. JOHNSTON ‘Trustee, Vandergrift Estate S. H. KAUFFMANN Evening Star Newspaper Co. CARL B KEF ERSTEIN Archl GEORGE A. KING Attorney-at-Law ALFRED H. LAWSON Vice Pres. and Real Est. Officer THEODORE W. NOYES Editor, Evening Star A. CHAMBERS OLIPHANT Consulting Engineer WILLIAM E. PEARSON President. Virginia Brick Co. ARTHUR PETER Attorney-at-Law WALTER S. PRATT, JR. Equitsble Coop. Building Asem, Loans S 7. JOHN RUTHERI’OOID euit Court of Va. CHARLES G. TREAT Major General, U. 8. A, Ret'd DONALD WOODWARD President Woodward & Lothrop, Ing. Other Securities Banking Houses, Vaults and Furniture and Fixtures and Real Estate Owned . Other Assets Total Assets ........... THE WASHINGTON LOAN and TRUST Presents a Statement of Condition of Its Banking Department 29, 1935 Loans and Discounts.......... ecured by Real Estate. . Leaving a Surplus Above All Requirements of ......... COMPANY Deposits of 40,811 Customers. .......... $22,305,355 To Secure These Deposits the Bank Has Cash in Vaults and Reserve in Federal Reserve and Other Banks........... $7,207,158.95 U. S. Goevernment Securities and Other Obligations, Government-guaranteed. 6,330,813.79 1,735,537.90 3,324,409.19 3,461,537.45 Safes, Other 3,237,963.90 128,866.84 .. $25,426,288.02 .. $3,120,932.18 MEMBER, FEDERAL RESERVE SYSTEM MEMBER, FEDERAL DEPOSIT INSURANCE CORPORATION