Evening Star Newspaper, July 5, 1935, Page 18

A—I8 wxx FINANCIAL. THE EVENING STAR, WASHINGTON, D. C., FRIDAY, JULY 5, 1935. FINANCIAL, LOANS CUT DOW IN FIFTH DISTRICT Membzr Banks Disclose $5,141,000 Increase in Security Holdings. BY EDWARD C. STONE. Details from the monthly review of Chairman William W. Hoxton of the Federal Reserve Bank of Rich- ‘mond, received here today, show that between May 8 and June 12, both of this year, 28 reporting member banks in leading cities reduced aggregate Joans by $226,000, of which $62,000 was in loans on securities and $164,- 000 was in all other loans. Investments in securities, chiefly Government issues, increased $5,141,- 000 during the month. The report- ing banks reduced their reserve bal- ance at the Federal Reserve Bank by $12,001,000 between May 8 and June 12, while they increased cash in vaults by $1,184,000. Total deposits in the 28 banks rose during the past month, a rise of $3.586,000 in demand deposits more than offsetting a decline of $704,000 in time deposits. A decrease in time deposits usually occurs at the wvacation season. Between June 13, 1934, and June 12, 1935, loans on stocks and bonds decreased $10,138,000 and all otherl loans dropped $16,051,000, a total de- cline of $26,189.000. All other uems in the statement increased during the year. Investments in securities rose by $34,269.000, and reserve bal- ance at the Federal Reserve Bank increased by $10,300,000. Cash in vau more on the 1935 date than a year earlier. Deposits rose during the year. with an increase of $33,194,000. ac-| counting for over 90 per cent of the gain. None of the 28 reporting banks were borrowing at the Federal Re-| serve Bank of Richmond on the three dates used in the table. Total Deposits Above 1934. Time deposits in 28 regularly re- porting member banks and aggregate deposits in 11 mutual savings banks totaled $338,335,063 at the end of May, 1985, a lower figure than $338.- 825,410 at the end of April, 1935, but a higher figure than $326,631.808 at the end of May, 1934. Reporting member banks showed a decline in time deposits during the month. but gained during the past year. while the mutual savings banks gained de- posits during both the past 'no'uh and the past year. Reflecting the volume of business that has passed through the member banks, Chairman Hoxton adds that in the five weeks ended June 12, 1935, aggregate debits in the reporting cities amounted to $1,110,130,000, a de- crease of $12,904,000, or 1.1 per cent, in comparison with debits totaling $1,123,034,000 during the preceding like period, ended May 8. However, & majority of the cities rcported‘ higher figures for the more recent period, 13 cities increasing and 10 decreasing. In the 10 cities which failed to| gain this year the 5 largest cities are included. At least part of the decline in debits during the five weeks eneded June 12 was due to inclusion of some quarterly payments in the earlier period, ended May 8, especially in the larger cities, in which dividend payments are an important factor in debits figures. H In comparison with debits reported | for the five weeks ended June 13, 1934, | those for the corresponding five weeks | this year showed an increase of $114.- | 776,000, or 11.5 per cent, part of | which is probably accounted for by higher price levels this year in some | lines. All of the reporting cities showed | higher figures for the 1935 period, } except Lynchburg, in which a de- | crease of 2.8 per cent was registered. [ Mr. Hoxton reports. | Permits Up 124.5 Per Cent. | Building permits issued in 31 lead- | ing fifth district cities in May, 1933 numbered 2,892, compared with 2.2 permits issued in May, 1934, an in- crease of 30.1 per cent. Esumabed‘ valuation figures for all classes of permits issued last month totaled $5,851,857, compared with $2.606.967 valuation for permits issued in May,' 1934, an increase this year of 124.5! per cent. Twenty-six of the thirty- one cities showed higher valuation figures for May, 1935, than for May. 1934, and most of the improvemem" appears to be in residential construc- | tion. To this surprising percentage in- erease in building permits is added | the commercial failure record. Chair-| man Hoxton states that the com- mercial failure situation in May was the most favorable made by any of the 12 Reserve districts, bankruptcies in this area in May numbering only 27 in comparison with 67 in May. 1934, while the months liabilities aggregated $507,813 as compared with $1,706,753. | At the same time, employment showed improvement in construction ‘work but there appeared to be no de- crease in relief rolls. Textile mills increased operations slightly. Tobacco manufacturing continued at a high level in May, materially exceeding the output in the same month a year | ago. | As previously noted, Washington | was the retail trade bright spot, with | an 8.7 per cent gain while the average | for the whole district was only about | 1 per cent ahead of the previous year. | Cool weather was given as the reason. | Today’s Trading on Exchange. In the last trading session of the | week on the Washington Stock Ex- change, $1,000 Washington Gas 5s, 1958, sold at 105%. Washington Gas 6s, series B, came out in a small sale at 102%. Capital Transit stock held its Wed- mesday gain and again changed hands; at 19. Potomac Electric Power 6 per cent preferred moved at 110, while the same corporation’s 5% per cent preferred opened at 1145 and closed &t 114 on a 28-share turnover. Liberty National Bank, Norfclk & ‘Washington Steamboat, Firemen’s In- surance, Carpel Corp., Security Stor- age and Terminal Refrigerating & ‘Warehousing stocks are now being quoted ex-dividend. A. Chester Flather, one of the man- agers of the Washington office of G. M. P. Murphy & Co., New York Stock Exchange house, is recovering steadily from an operation performed at Mount Alto Hospital. Mr. Flather has been in the brokerage business for several years and was formerly con- nected with the American Security & Trust Co. Hilleary G. Hoskinson, a vice presi- dent of the Riggs National Bank and an officer in the District Baukers’ As- sociation, is on his annual vacation. Other Riggs officers ngw on vacations include B. Gwyn Dens.and D. J. Cal- lahan, Jr., both assistant cashiers, ts totaled $1,630,000 | $35.975,000 | demand deposits, | Prev. High. 114 55 % 94 1454 20% 1% 7 301 154% 127% 6% 59 238 20% 70% 5T% 28% 6414 327 126 109 447y 5 40% 11\ By private wire direct h ‘The Star. 1035 Stock and Sale Net. Low. Dividend Rate. MldflO High. Low. Close. Chge. 110 Abr & Strauss pf(7) 10s llg% 113% 113% + % 51 Acme Steel (12) 54% b54% 4% Adams Express. 6 6% 6% 6% + % 4% Advance Rumley 9 9% 9 W + % 104% Air Reduction (13)_ 9 145% 142% 145% +4 15% Alaska Jun (160c)__ 15 17 16% 16% + % % Alleg Corp (d) _ 3 % % 2 Alleg pfw330w (). 1 4 4 4 21 Allegheny Stl (l)... 14 30% 29% 30 125 Allied Chem (6) __ 19156 154 156 +4 1221 Allied Chem pf (7)_. 1125 125 125 314 Allied Stores 24 4% 4% 4% — % 49 Allied Stores p 4 59 58 58% 12 Allis Chalmers . 21 28% 22% 284 + % 14 AlphaPortCmt (1). 1 17% 1T% 1T% + % 481 Amerada Corp (2) _ 6 64% 63% 64 — % 41 Am Ag Cem Del (2). 3 45 441 45 + 13 13% Am Bank Note .. 17 28% 27% 28% + % 43 Am Bk Notepf (3)_. 70s 62 62 62 —1% 21 Am Brk Shoe (1) 1 31% 31% 381% +1 119 Am Brk Shoe pf (7) 80s 126 126 126 110' AmCan (14) ______ 29 141% 189% 141% 424 AmCanpf (7). __ 5157 157 157 -2 Am Car & Foundry_ 14 17% 174 1T% + % ¢ AmCar & Fdry pf__ 15 42% 42 42% + % Am Chain pf = 1 72 % g2 214 Am Comel Aleohol . 3 254 24% 254 + % Am Crystal Sugar_ 8 15% 15% 15% + % Am Encaustic (d)_. 1 % % & Am & Foreign Pwr 9 4% 4 4k Am& ForPw$6pf. 8 20% 200 20 + 15 Am&ForPwsTpf. 6 26W 26 26 + % Am & For Pw 2d pf 1 8k 8% 8y Am HawaiianSS(1) 4 10% 10 10 —1 Am Home Pr (2.40). 2 331 331 331% — % 's Am International __. 3 ™M ™ Tu+ % Am Locomotive _ 7 14% 13% 14 + % Am Locomotive pf 3 49 481, 49 41 :Am Mch & Fy (80¢). 10 231 22% 2315 + 8 Am Mch & Metals 2 8% B4 BW— 1 di 8 8 8 — Am Metals 319 184 19 +1 Am Power & Light . 13 4% 4% 4% — Am Pw & Lt $5 pf __ 7 v AmPw & Lt $6 pf _ Am Radiator Am Radiator nf( Am Rolling Mil B Am Safety Raz (5) 415 Am Seating vte 20 Am Shipbldg (2) 31% Am Smelt & Ref ___ 63 Am Snuff (13) Am Steel Foundry _ er Works _ 2 Am Woolen pf Am Zinc & Lead Anaconda Copper___ 5 Anaconda Wire Anchor Cap pf(61:) Archer Dan M (+1) Armour Del pf (7) Armour of Illinois Armour I11 pr pf (6) Arnold Constable Atch To&S Fe (a2)_ Atch To&S F pf(5) Atlantic Coast Line Atlantic Ref (1) Auburn Auto Austin Nichols “ 17 % Aviation Corp(Del). 3 3n 3 3w Aviation Corp new 2 3% 3 3+ 8 10 1 50s ldwin Loco (d) __ Itimore & Ohio 9 Itimore & Oh pt 1003, Bamberger pf (612) 36's Bang & Aroos (213) 1 314 Barker Brothers 4 32 Barker Brothers pf_ 140s Parnsdall Corp 4 Bayuk C 1st pf (7) . 30s atrice Cre (a50c). 1 1 2 31 65 4 5 114 Belding-Hem (a50c) 117 Bendix Aviation 15'% Beneficial Lo (13%) 34 Best& Co(2) ~ 21% Bethlehem Steel 224 55% Bethlehem Stlpf __ 13 14% Bigelow-San Corp._ 180s 9% Blaw-Knox = 11 61« Boeing Afrplane 38 41' Bohn Alum &Br (3) 11 90 Bon Ami (A) (+4)__ 10s 21 BordenCo (1.60) _ 9 Borg Warner (1%)_ 19 + % Bridegep't Brass 40c. 38 + Briggs Mfg (2) 52 - < Brizgs & S 2 + % Bristo! 3 4 + 3 395, — 'n Union Gas(5) 3 64% 64% 64% + 123Y% Brown Shoe pf (7)__ 10s 125 125 125 +1 312 Brunswick-Balke 5 3% 3% 3% -y 81 Bucyrus Erfecvpf. 11 12% 12 12% + 1, 62 Bucyrus Erie pf (2) 20s 85 84 85 2% Budd(E G)Mfg 5 4% 4y 4y Budd(E G)Mfg p! 440s 34% 34 34% + 21: Budd Wheel : 9 4N 4y 4n 4+ 814 Bullard Co —o 17 141 137 14% + 5 3 BurnsBropf(d) 1008 3% 3% 3y — 13% Burr Add Mch(60c) 9 1% 17 1T + & 5' Bush Term deb (d) 1 5% 5% 5% —y 20% 11% Byers (A M) - 16 16% 15% 16% + 1, 60 32 Byers (A M) pf 110s 52 49 52 +3 42'. 33 California Pkg(12) 6 33% 334 33y — 1'x % Callahan Zine - 9 T, o3 w g 4 Calumet & Hecla 2 3w 3 3y 21%: Campbell-Wy(a20c) 68 22y 21%, 22 + 165 8% Can Dry G A (40¢) 2 10%; 10': 10% + 3 13% 9% Canadian Pacific 21 10 9% 10 36 30 CannonMills (2) __ 2 33% 33% 33% + 9 4% Capital Admin (A). 11 9% 8% 9% + 41% Cap Admpf A (3) - 110s 41% 40 40 — 1, 3 4 Case (11) Co 40 58 56% 5Ty +1y Caterpillar Tr (11)- 8 49% 49 49 + 1, 35 9% Celanese Corp 24 25% 24 25% 1% 4% 1% Celotex Co (d) 1 3% 3% 8% + . 29 221 Cent Aguire (1%).. 2 27T 27 27 + 1 Cerro de Pasco (4). 23 W Certain-teed Prpf _ 50s 30 30 30 % Ches & Ohio (2.80) 10 44 43% 433 Chesapeake Corp(3) 11 42 41% 42 — % 15% Chi Mail Order (11). 2 19% 195 191 % ChiMilStP&P___. 11 1 % % % Chi Mil StP&P pf. 3 1% 1% 1 — % 114 Chi & Northwest 10 1% 1% 1% + 4 % Chi & Northwestpf. 2 4% 4% 4y Chi Pneumatic Tool. 15 7% T % + 4 20 ChiPneuToolpf___ 21 40% 37% 40 -215 1 ChiRl&Pac(@d)._. 1 % % % 50% 71 Chrysler Corp (t1)_ 426 51 49% 50% +2 24% 20 City Ice & Fuel (2)_ 16 21% 20% 21% +1 100 87 City Ice&F pf«G‘,) 20s 93% 93% 93h — 5 5 3% 1 4% 4% 4w+ 4% 12 Clark Equip (80c) _ 2 13% 131 13% — % 27% Clev Graph Br (11)_ 3 28% 28 28 53% Coca-Cola A (2) 1 55 55 55 + % 15% Colgate-P-P (50c) . 14 17 16% 17 9 Collins & Aikman 5 18% 184 18% + 4% 69% Collins & Aik pf (7) 270s 100 99 100 1% 5 ColoF &1 pf (d) T0s 11 10% 11 + % 7 Colo&Soulstpf . 20s 14 14 14 +1 3% ColGas& Elec . 118 8% 8 8 =— 1 35% Col G & E pf A (6) - 2 73 13 73 +1 3412 Colum Pic vte (1) 30 74% 69% Td% +4% 67 Colum Carbon (4)__ 6 91 90% 90% — % 39% Comcl Credit (2) __ 25 484 47% 48% + 74 14 112 Comcl Cred pf(5%). 1 113% 118% 113% — % 68Y% 56% Comel Inv Tr (12)_. 4 66 64% 64% — % 23% 17% Comel Solv (160c) . 47 20% 19% 20 + 1 1% % Comw & Southern _ 147 1% 1% 1% + % 51 29% Comw & Sou pf (3) . 11 5214 50% 52% +1% 36% 27 Congoleum-N(1.60) 4 35% 35% 35% + % 14% 9 Congress Cigar 2 12% 12% 12% 42 23% Conn Ry&Lt (4%) . 108 3T% 3Tk 37% +1% 74 26 Consol Cigarpf (7). 10s 68 68 68 -3 3% Consol Film 8 44 4 4 14% Cons Film pf($1%). 9 16 15% 16 + 15 15% Consol Gas N Y (1). 42 27 26% 26% 521% Consol Gas pf (5) _ 8 99 98% 99 612 Consol Oil 17 8% 8% 8y 8% Container Corp ( 4 104 10 10% + % 2% Container Corp (B). 3 3% 3% 3% + 14 46' Contl Baking pf (4). 1 59 59 59 8614 62% Contl Can (2.40) _. 12 87 86 86% +1% 10% 7 Contl Dia F (a30c)_ 2 10% 10% 10% 37% 28% Contl Insur (11.20). 4 36% 36% 36% — % 1% % Contl Motors 2 1 % k-3 23 154 Contl O Del(a37%c) 20 21% 21% 21% + % 51% 41% Corn Ex BK&Tr (3) 420s 53 51% 53 -+1% 76% 62 CornProdRef(3) x 10 76% 76 76 -+ % 6% 4% Coty Inc 2 4% 4% 4%+ % 39% 35% Creamof Wh (12) . 3 88% 38% 38% 16% 121, Crosley Rad (a25c). 1 14 14 14 33% 28% Crown C&S (1) 5 32% 32% 32% + % 5% 3% CrownZellebkvte. 5 8% 3% 3% 25% 14 Crucible Steel 11 21% 20% 20% + % 68 47% Crucible Steel pf 1 63% 63% 63% +2% 1% 1 CubaCo s TR G 1 - % 80% 40% Cuban-Am Sug pf_. 110s 70% 70 70 —1 105% 89% CurtisPubpf (7)._. 2104 104 104 — % 3 2 Curtiss Wright 19 2% 2 2%+ % 104 6% Curtiss Wright (A). 10 % T4 % + % 22 16 Cutler Hammer 2 21 204 20% + 3% 8% 6 Davega Stores 8.7 % 9 +% 31 22% Deere & Co 3 28 2T% 28 + % 26 19 Deere&Copf (140c). 7 25 24% 24% — 14 43% 281% Delaware & Hudson 2 30 29% 80 + % 19% 11 Del Lack & West __ 8 14% 14% 14% + % 94% 65 Detroit Edison (4)- 4 92 91 f -1 323 26% Diamond Mat (f1)_. 2 33 33 33 + 3 41% 34% Diam Matpf (111%4) 1 38% 38% 38% 43% 43% Dome Mines (12) 7 39 38% 88% — % 12% 6% Dominion Stores iGN LG 27% 17% Douglas Aircraft . 26 25% 24% 25% + % 23 131 Dresser M(b1%)A . 1 19% 19% 19% — % 105% 86% Du Pontde N(2.60). 26 103% 103% 103% + % 131 126% Du Pontdeb (6) __ 2 128% 128% 128% — ¥ 8 3% Eastern RollMills.. 21 5% b5k b5+ (*) New 1935 high. STOCK AVERAGES Compiled by the Associated Press. 30 15 15 60 Indust. Rails. Util Stocks. Net change __ 4.1 +2 +.6 +.6 ‘Today (close) 614 237 *331 449 Previous day .. 60.3 235 329 443 Month ago 222 30.7 423 329 328 4238 276 331 45.2 18.5 216 348 43.0 40.6 514 2238 242 349 8.7 239 1843 Prev. 1935 Stock and Sales— High. Low. Dividend Rate. Add 00. High. Low. 149% 110% Eastman Kod (5) 30 150 146% 1612 141 Eastman Kod pf (6) 30- 157% 157 22 16% Eaton Mfg (1) 22 21% 29 19% Electric Auto Lite__ 77 23% 23% 64 3% ElectricBoat._____ 12 5% b 8% 1 EleePw&Lt _____ 21 3% 3% 14% 2z ElecPw&Lt$6pf_ 4 14% 14 16% 3 ElecPw&Lt$7pf. 8 164 15% 49% 39 Elec Stor Bat (234). 2 43% 434 1% s ElkHornCopf(d) - 1 % & 32 14 Eng Pub Sve $5 pf 5 341 32% 321 14% Eng P 8 $5.50 pf ww 6 35% 33 33 15% Eng PubSve$6pf__ 11 361 32% 5% 5 IKquip Office Bldg 7 50 6 ie RR - 2 8% By ireka Vac C (80c) 1 1% 11% 23% 15 Evans Prod (al)_. 8 20% 20 5 2 Exchange Buffet___ 970s 2% 2% 25% 17 Fairbanks Morse T1% Fairbanks M pf i3% 10! llz’m 40 Fed Min & Smelter 3% Fed Motor T (al0c) l 6’~¢ % Fed Water S (A) 4 1% 3 28% Fid Ph F In (11.20)_ 2 36 114 1064 Filene's S pf (632)_. 40s 114 18% 13% Firestone (40¢) 2 29 108 21': 2 40 8413 Firestone pf (6) A 45% First Nat Strs (21%) 19 Flors 20% Food Machine (1) 974 Foster- Wheeler 60% Foster-Wheeler pf 19% Fourth Nat I (a60c) Fox Film (A) 17% Freeport-Texas (1) 512 Gen Am Investors 32% Gen Am Trans(1%) 11% Gen Asphalt 7% Gen Baking ( 5% Gen Bronze n Cable n Cigar (14) 60¢) 32% Gen Foods (1.80) Gen Gas & El (A)__ Gen Mills (3) Gen Motors (1) ien Motors pf (5) 34 Gen Outdoor Adv 10 Gen Outdoors Adv A 17% Gen Print Ink(1.60) 31z Gen Print Ink pf(6) 16% Gen Refractories 16! Gen Refrac ctfs 14 Gen Stl Casting pf 12 Gillett Saf Raz (1) 215 Gimbel Bros 23% Glidden Co (1) 14% Gold Dust (1.20) ___. 7'z Goodrich (B F) Goodrich (B F) pf__ 15% Goodvear T&R 2'3 Gotham Silk Hose 20 Gotham Silk H pf 1% Graham-Paige 5% Granby Consol 184 Granite City Stl (1) 26 Grant (W T) (11) 9% Grt Northern pf 9ty Grt North Ore (50c) 20%3 Greyhound Corp 12 Guilf States Steel 21% Hackensack W(11:) 101 Hanna (M A)pf(7) 16 Harbison W pf (6) 5'3 Hat Corp of Amer 21 Havana Elec Ry pf 85 Hazel Atlas Gl (5) 11 Hercules Mot (60¢) 71 Hercules Pw (13) 122 Hercules Pw pf (7) 731 Hershey Choc (3) '2 104 Hershey Ch pf (14) 5% Holland Furnace 6% Holland & Son (50¢) 307 Houd~Hersh (212) A 6': Houdaille-Hersh B 1'2 Houston Oil (new) 43 Howe Sound (3) 2% Hudson & Manhat 6% Hudson Motor Car * Hupp Motors 913 Illinois Central 40 111 Cent Ise lines(4) 2313 Indus Rayon (1.60) 601, Ingersoll-Rand (2) 464 Inland Steel (2) 4 Insur Shct Md(14c) &% Interboro RT (d). - 41 Interlake Iron 2% Int Agricultural 26 Int Agricul pr pf 227% Int Cement (1) 34 Int Harvester (60c) 135 Int Harvester pf(7) 1% Int Hydro Elec (A)_ 22% Int Nick Can (60c) % Int Paper & Pw (C) 4': Int Paper & Pw pf__ 21's Int Print Ink (1) 9815 Int Print Ink pf (6) 2% Int Ry Cent Am_ 9% Int Ry C A pf 42% Int Shoe (2) 17 Int Silver 5% Int Tel & Tel _ 60 57% 3 281 127% 17% 11% 81 17% 32% 24% 113% 113% 167%: 19% 24% 28% 32% 42% 1% 41% 22 49 Jewel Tea (3)_ 381, Johns-Manv (a25¢c) 50 Jones&Laugh7%pf T Kaufm'n D S(ad0c) - 6 Kelsey-Hayes (A)_ 3% Kelsey-Hayes (B)_ 124, Kelvinator (50¢) - 13% Kennecott C (60c) - 23 Kinney (G R) Co pl, 19% Kresge (SS) (1) _ 221 Kroger G&B (1.60) 24 Lambert Co (3) 814 Lee Rub&Tire (50c) 10% Leh Port Cement 5 Lehigh Valley RR_ 67'% Lehman C (12.40) _ 14 Lehn & Fink (1%) 21% Lib-O-Ford G1(1.20) 21 Life Saver (1.60) __ 94Y; Ligg & Myers (14) 93% Ligg & Myers (14)B 1511, Ligg & Myers pf (7) 16% Lily Tulip Cup(1%) 131 Lima Locomotive__ 17% Link Belt (60c) 24% Liquld Carb (1) 31% Loew's Inc (2) - 1 Loft Inc 33 Loose-Wiles (2)_ 18% Lorillard P (11.20)_ 140 124 Lorillard P pf (7) - 1% 19% 18% 4 La Oil Ref (d) 10% Louisv G&E(A)1% 12% Ludlum Steel 40 McAndrews&F (12)- 28 McCall Corp (2) 7% McCrory Stores (d). 6% McCrory Strs B (d)- 57% McCrory pf (d) ___ 36% Mclntyre Porcu (2) 90% McKeesport T P (4) 5% McKesson & Rob 32 McKesson & Rob pf 81 McLellan Stores 18% Mack Truck (1) 30% Macy (R H)& Co(2) 18% Magma Copper (2) - 13% Man El md gtd (d) .. 10 Manhat Shirt (60c). 41% Marancha Corp 5% Marine Midld (40c). 3% Market St Ry 3% Market St Ry pr pf . 6% Marshall Field = 23% Mathieson Alk(1%) 35% May Dept Str (1.60) 41 Melville Shoe (3%)- 3 Mengel Co 2a% Mesta Mach (1%) __ 9% Mid-Cont Pet(al5¢) 8% Midland Steel Prod - 60% Midl'd Stl 1st pf(8). 3% Minn Moline Pw 81 Minn Moline Pw pf_ % M St P&S S Marie 10% Mission Corp 2% Mo Kans & Texas 5% Mo Kans & Tex pf-o 1% Mo Pacific pf (d)-—- Monsanto C (1) c—em x - 100s 1508 40s 105 10 2 9 49 1908 13 1 22 4 5 2 29 3 40s 4 3 8 4 32 3 10 2 2 28 28 20s 107 106% 17 21% 21% 1 7% s 10s 4w 2 106 5 22% 2 83% T0s 1234 379 11187% 59 103 1 % 2 384 74 150 1 2% 1 483 1 3 27 8 3 I 3 10 27w 10s 105% 3 11 45% 183 10% 20s 3 1 34 1 19 5008 581 54 62%, 1 22 12 10 27 50s 17 1 12 18% 16% 13% 18% 29% 24% 28% 19 25% 11 221 113% 113% 159 2 341 2% 35% 43 361 43% 5 8l + % 1% 20 + W 2% + % i+ % 94%, 5313 — % 22 i 42 + W +1 FEFFIE SEE 14+ + bttt 1ds 2 FUI+444 144+ Prev. 1935 Stock and 1+ 4 i + 3 11 45% — 1 181: + 1o 10% 5814 + 15 54 41 62% 2% 12 4+ % 18 4y 16% + % 18 — i 184 + % 29 —u 24% 28% + % 25% — % 103, 14% + % 29% + % 221 — 3 113% +3 15 +2 159 +1 18 19% + % 275 +1 31% +1% 42 + % %~ %] 39% 21% + % 140+ 1| 5o Y 19% + 3 18% +1% 43% — % 33% 8% + %, Dec 8 33% +1% 18% +1 12% + % 5% 6% + % 10 8% + % 31 + % 2% + % 54% + % 1 2% N/TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE 8tock and Prev. 1935 Bales— Net. Chicago Grain By the Associated Press. CHICAGO, July 5.—All future de- liveries of wheat in Chicago plunged downward 5 cents a bushel late today as compared with Wednesday's close. Announcement that the price of wheat at Winnipeg today had tumbled to the minimum permitted by the Ca- nadian government led to fresh out- bursts of distress selling in Chicago and other leading markets. A state- ment from Premier Bennett of Can- ada that there would be no sacri- ficing of grain from that country in international trade was ignored as a market influence. ‘Wheat closed semi-demoralized, 5-5% under Wednesday's finish, September, 817%; corn, 1%-2% off, September, 73a73%; oats, 1%-2 down, and pro- visions unchanged to 25 cents lower. JVHEAT— gpen. Hish. Iow. Close. July B33 81 Sl 435 45% Chicago Cash Market. Cash wheat, No. 2 red, 80. Corn, No. 2 yellow, No. 2 white, 851, Oats, No. 1 white, 37a38; No. 2 white, 35a35%. No rye. Buckwheat, sample heating, 1.10. No soybeans. Barley, nominal feed, 45a50; malting, 60a1.00. ‘Timothy seed, per hundredweight, 5.75; uew, 5:15. Clover seed, per hundred- weight, 15.25a18.25. %|IGLEHART DIRECTS BIG SAVING PLANNED BY REMINGTON RAND| Special Dispatch to The Star. NEW YORK, July 5.—Based on the current rate of earnings, the Rem- ington Rand plan for reclassification of the company’s stock and settlement of back dividends, proposed by the board of directors to stockholders on | May 28, 1935, if adopted, will make possible enough savings on interest charges to increase net earnings of the company 10 per cent, it was estimated today by J. H. Rand, jr. chairman of the board and president. After giving effect to the reduction of interest the net earnings for the 12 | months ended May 31, 1935, would i be equivalent to 91 times the annual dividend requirements on the new 5 per cent prior preferred stock, and efter that would be equivalent to 1 8-10 times the annual requirements for the new $6 preferred stock, Mr. Rand stated. GENERAL FOODS SALES Special Dispatch to The Star. NEW YORK, July 5—Austin S. Igleheart, vice president and director of General Foods Corp., today takes complete charge of sales and mer-| chandising, according to C. M. Ches- Mr. Igleheart succeeds join Frankfort Distilleries, - Louisville, Ky., and Baltimore, Md. DECREASE REVEALED N WOOLWORTH SALES By the Assoclated Press. New York Cotton By the Associated Press. NEW YORK, July 5—Partial rallies from an early decline in cotton today were followed by renewed weakness prompted by the break in wheat and reactionary sentiment following the preholiday adjournment. The midafternoon market was at about the early lows on both positions, showing net losses of 17 to 25 points. Futures closed steady. 25-28 lower. High. Low. Jul- 1179 1147 11.47 11.47 1 11 Cottonseed Oil. Bleachable cottonseed oil futures closed easy; September, 9.88b; Octo- ber, 9.89; December, 9.76a9.80; Jan- uary, 9.77b. Sales, 63 contracts. b—Bid. | POO bales. including 4.600 Ame moderate business 'done; lower. Quotations in 'pence—American strict' good middling. 14 7.14; strict middling, 6.9: 1i strict low middling. 6. 6.59; strict good _ordinary. ordinary. PFutures cloled ste: (X Jllly. 6. M Oe'abel'. 6.22; December, 6. LEAD PRICE RAISED BY AMERICAN SMELTING By the Associated Press. NEW YORK, July 5—American| smelting & Refining Co. has advanced the price of lead $1 a ton to the basis of 405 cents a pound, it was an- nounced today. FOREIGN EXCHANGES. (Reported by W l Hibbs & Co.) STOCKS FORGE UP §110 §2 OR MORE Steels and Wide Assortment of Speciaities Lead. Close Is Firm. What Stocks DI Friday, Wednesday. Advances _____. 394 Declines = - 138 Unchanged __ 149 Total issues . BY VICTOR EUBANK, Associated Press Financial Writer. NEW YORK, July 5—The stock market forged ahead today under the leadership of steels and a wide as- sortment of specialties. Gains of 1 to 2 or more points ruled among the fa- vorites. A sharp drop in wheat prices failed to depress the list and other news was generally ignored. The close was firm. Transfers approximated 875,000 shares. Some of the motors and tobaccos were in demand, but most of the rails, oils and utilities were just about steady. Mining issues were not en- thustastic, as imported bar silver at New York was reduced % of a cent an ounce to 69 cents Aside from signing of the Wagner labor bill by the President, all was quiet along the Potomac. The slump in wheat to its full day’s permissable limit of 5 cents a bushel was attributed to fears that the Canadian govern- | ment will soon dispose of its huge wheat holdings. Cotton pointed down- ward along with rubber. Foreign gold | currencies were rather weak. Indus- trial bonds were higher. Foster-Wheeler preferred shares got up about 11 points on a few trans- actions. A number of new highs for the year or longer were registered. Net. High Low, Dividend Rate. A44 00 High. Low.Close. Onge. | High, Low. Dividend Rate. A4d 00, Hish. Low.lose. Onge. 30% 21% Montgomery Ward. 72 281 28% 28% + %| 20% 8 SouthernRwypf . 19 10 MW 9% — % 1% % Mother Lode_ 2 % % % 33% 25% So Ry M&O ctfs (4). 1, zz 22 22 -4 28% 217% Motor Products (1). 6 27% 27% 2%+ %| 7% 5 Spalding (AG)____ 1 6 — 8% 11% 7% Motor Wheel (50c)- 4 9% 9% 9% — %| 63 42, Spalding(AG)lstpf 30s 66‘», 56% ss-q +2% 12% 7 Mullins Mfg_ 1 10% 10% 10% — 3| 5% 3 Sparks-Withington. 5 4% 78% 78 MullinsMfgpf . 408 77 75 77 +1 | 364 32 Spencer Kell (1.60). 1 35% s 18% 13% Munsingwear Inc_ 1 15% 15% 16% — % | 10% T4 Sperry vtc (a25c).. 22 9% % 10% 4% Murray Cor; 97 10% 10 10% + % ;g:: & gph:erlld;lg e 2 :—,2‘/‘ 4 3% Spiegel-May-Stern_ 5 kN 19% 11 sh Motors (1) 21 12% 13% 13% + %! 19% 13% Stand Brands (1) 34 16 Y% Tl 4% Nat Acme Co____ 3 6% 6% 6%+ %| 130 122% Stand Brands pf(7). 10s 126% % 31% 22% Nat Biscuit (1.60).. 39 29% 28% 29% — % 4% 1% Stand Gas&Elec._. 13 4% - W 18% 131 Nat Cash R A(50c) 39 18% 18 18 5% 1% StandG&ES$4pf _ 4 4% % 17% 11% Nat Dairy Pr (1.20). 41 16% 16% 16% — %[ 12% 4% StandG&ES6pf_ 2 11% " 4% 1% Nat Dept Stores (d) - 1 1% 1% 1% 16 6 StandG&ESTpf _ 5 14 % 34% 17 Nat Dept Strspf(d) 60s 22 21% 22 + %| 38% 27% Stand Oilof Cal (1). 8 34% % 29% 23% Nat Distillers (2)__ 28 26% 26% 267% 27% 23 Stand OilofInd (1) 18 25% 32 21 NatEn&Stpg(2)_. 5 31% 30% 31% + %| 50% 35% Stand OIINJ (11)_. 44 4T % 1381 121% Nat Lead pf (6) B__ 100s 138 138 138 17% 123 Starrett(LS)(a25c). 10 17% 175 11 9% 4% Nat Pw & Lt (80c)_. 38 9% 9% 67 58% Sterling Prod (3.80) 6 63 62 % 50% 40% Nat Steel (11)_____. 21 50% 49 50 +1%| 114 6% Stewart-Warner 92 12 % 10 9 NatSupplyCo ____ 1 16% 16% 16% + %| 6% 2l Stone & Webster. 27 6% 76 36 NatSupplyCopf . 70s 67 66 66 ~—1 3 2y Studebaker Corp 14 2% 12% 7% Natomas Co (80c)__ 5 10% 10% 10% — 1% | 121 115% Sun Ofl (1) 90s 119 % 28% 21% Neisner Bros (11)_- 2 24% 24% 24% + % | 21% 11 Superheater (50c) 1 18% % 8 4% Newport Industries 1 5% 5% 5% — 1| 3 1% Superior Oil 8 2y 28% 18% N Y Afrbrake _____ 3 26% 26 26% + %| 9% b5 SuperiorSteel ___. 20 8% 5 21% 12% NYCentral RR___. 23 17% 16% 17T% + % | 19% 14% Swift & Co (150c)- 23 15% % 25 9ANYChi&StLpf 1 14% 14% 14% — % 8% 24 NYNH&Hartford 3 3% 3% 3%— 14| 5% 4 TennesseeCorp 4 14% 6 NYNH&Hartfpf 3 T 7% T4+ u| 22% 16% Texas Corp (1)- 35 6 2% N Y Ontario & West 1 8% 3% 3% — 1| 36% 28% TexasGulfSul (2). 12 % 16% 6% N Y Shipbuilding _. 2 9% 9% 9y — 1| 5% 3% Tex Pac Coal & Oil_ 34 86 69 N Y Steampf (6) _. 110s 85% 81% 854 423% | 12% 3! Tex Pac Land Trust 5 97 79 NYSteamlst(7)_. 10s 95 95 95 19% 13% Thatcher M (a50c) 1 ¥ 43 30% Noranda Mines (2)_ 7 37% 36% 36% 5% 21 ThermoidCo______. 4 176% 158 Norfolk & W (18) _ 4 177% 176% 177% + % | 22% 16 Third NatIn (a50c). 3 108 99 Norf& Westpf (4). 908107 105 105% —11 | 17% 13% Thompson Products 7 T 4 2 North Am Aviation 8 2% 2% 2% — 4 3% 1% Thompson Starrett. 1 18% 9 North Am Co (1) 74 18% 18% 18% 12 7% Tide Wat Asso Ofl T n 50 35% North Am Copf (3) 8 50% 50 50% + 7| 102% 84 Tide Wat AOpf(6). 3 10% 9% North Ger Llovd .. 1 T T4 Th-2% 49“ 22:: :_‘:dvk“'nl O (asc) 7 13% N rn P 1y 20 Y “ mken-Detroit 21% 13% Northern Pacific 21 20 19% <20 + % 41 28% Timken R B (1) 4 i 5 7 4% Transamerica(30c) 14% 9% Ohio Oil (al5e) 4 1% 11% 11% + % ‘ 4% 1 OllverFarmFquip- 7 1% T 1%+l 10% T Trans& Weatn Alr 26% 13% Oliver FEprpfA - 2 16% 164 16% + u| 1§ 8% TransuekWilliams 5% 3% Omnibus Corp 1 3w 3% 3% e T ContlCorp. 7% 4% Oppenheim Collins 1 6 6 6 — % sv}' . T' co ,;" 2 ':l)- 20% 11% Otis Elevator (60c). 12 17% 17% 17% + % & o 1 "‘f"n f;‘fl';fl - 124% 106 Otis Elev pf (6) 50s 125 124% 125 <1 o5 (3% Truscon Steel T% 4% Otis Steel IR~ 6 i + NEE n City R T pf 46 23% Otis Steelprpf ___. 17 -3 = TR 47 38 Outlet Co (2) 60s gg:’ 2 pnanteskeep () 1 104 80 Owens-111 Glass(4) 2 100% 20": 1% l,:::);*]::fi;fl:].fi}fl: 25% 13% PacificG & E (1%)_ 14 B o e 36 Pacific Ltz (2.40) _ 48 b e el ) iAo 26 4 20% Un Tank Car (1.20)_ e AniriGanbet : 15' 9% United Aircraft >anhandle Pro& R_ 2 - e & s Panbandle P&R pf . 40s Pt T4 Uit ac :‘; on 5514 Par-Public cod (d)_ 47 3915 20% United Corp 3 Park & Tilford _ 1 131, 8% United Drie® (e 4 Park Utah i 7 i g Pathe Exch (A)_ 1 93‘. 7'1%“.1[ nited Elec ¢ o:d - 3 Peerless Motor__ 1 =% ~ 'llllfl-l‘l Fruit (3) 3 Penney J C (2) 14 | 15% 94 United Gas Imp (1) S Pennev J Cpf (6)__ 10 195’ 87! United Gas I pf (5) P ol A Coks 1 | 331 10 " United Pce DW pf_ 208 Penn Dixie Cement 1 &Forn Secur__ 4 31 Freight (lll E s | Sypsum (1) 5 Fetrol Corv) 1 | Gypsum pf (7) 108 Phelps Dodge (a25 9 4| e teonoL () 5 5 Phila Co 6% pf ( 5 | Leather A vic b ; Phila & Read C&1._. 2 Pipe & F Gy 10 53's 35% Philip Morris (1) 6 o X Folds )>&'PI(JTLP|H 200 : 3 3% Phillips Petrol (1) 13 i | ‘,‘_x e R eakty mp 9 Pillsbury F1 (1.60) 1 ¢| 174 94 US Rubber 2 . Pitts Screw & Bolt 7 | 425 240 U'S Rubber 1st pt 10 e *124n 95 1 1t & R (a6 Pitts Steel pf 60s 124% 95 USSm ) Pitts United Corp 2 ;}'i.:. ;5;.:) Sm & R pf (3 Pitts United C pf___ 210s ] S Sae 2 Pitts & W Va 208 94 3% U S Steel pf (2) 2 : Plymouth Oil 3 | ll Tobacco pf (7). 10s 11t 64 Poor & Co (B) 2 ‘nited Stores (A)__ 5 4% 1% Porto R Am Tob(A) 2 LA Uidbneapt 2 16% 4% Postal Tel&C pf (d). 3 e g v e & 1 3 % Pressed Stl Car (d) 15 b ‘niv Pipe & Rad pf 10 17 614 Pressed StIC pf (d) 2 3% 1 UtlPw&Lt(a) 20 507 42% Proc & Gambl (1%) 20 e e e e e [ am pf (5) 1008 T Gy 33100 I 1 ‘f 2 r Chemical 3 % 3 -Car Chem 6% pf 3 sub Sve N ( aEl& Pwpf (6) S0s Lubihe 1,,“2 P L A Pure Oil 8 B Pure Oil 8% pf 508 4% Waldorf Sys (h20c) Purity Bakeries (1) 3 il Bl e « Wa ) 21, Warner Bros Pic 6% 4 Radio Corporation 116 e gnEle . 62% 50 RadioCorpfA(3%) 5 ‘;,j Kf;’r‘:': ;;‘;;i‘ e pf 591y 35 Radio Corp pf B 45 2. Warien Fd &P (2 2% 1% Radio-Keith-Or (d) 15 % Wl e 39 20% Real Silk Hose pf 20s 301 Wesson G 2 Remington-Rand 2 34 West Pa Elec ( RemingtonRlstply w4 36 West Pa Elec pf (6) 30s Remington-R 2d pf zm 397 West Pa Ele ';f = 90* Reo Motor Car____ Shieie el LN Republic Steel ___ 110 16 Wektha Pt Republic Steel pf 30 et L Republic Stl pf cod 4 205 Western Union. P Revere Copper (A) 1 g s 171 Reynolds Metals (1° 2 33% Westingh se Hles nolds M pf 1 iped ol £ 149 nolds Tob (3) 20s i: x,efi' h'se 15t pf 31, T0s > 4 % Westvaco Chi (40c) 5 3 nolds Ton BIG) L 16 181 Wheeling Steel 1: 123 B Bicrer Denial 1 461 Wheeling St prs1) 7 431 29% Roy’l D(b1.353-10c) 1 o Wi Mt 7 e 13 White Rk M S(1.40) e a1z 6 White Sew Mch pf 04% ¢ 308 _3% Wilson & Co (aZc) 4 : g:{ :‘Vn\](ml\-l‘o!:flfii vage Arms 2 11% Worthingtos Fump 5 “f"‘"r:i fi;:‘l“"‘”{{f ‘; 253 Worth Pump pf A Seaboa —_— Seab'd O Del (t60c) 4 2 3 p Sears Roeb'k(a75c) 37 26 \e}leo;&v ;?:cnlf ) ; |C- \,fi.:: pf(31 m '4?; 31% Yellow Truck pf 20s & v 18 Younz Sp& W (+1) 5 R oo BN I 2% 1 oGS eT., a2 * 6 & ngst'wn Sy r Shattuck(F G)(25¢) 8 7% Tz Tip ST S ounETwn aesnt 2 + Shell Union Oil 20 10% 104 10w v 1% 7 i p Shell Union OIIpf - 2 93% 92% 93% +1%| 4% 3 somrpiedlo---m 2 Sl Silver King C(40c) 10 14 13% 14 — x| : = & ! Simmons Co 7 9% 9% 9% 4 14| Approximate Sales of Stocks on the N. Y. Stock Exchange. | Simms Pet (a50c). x 2 15% 15% 153 — 15| 11:00 AM...... 280,000 12:00 Noon..... 420,000 Skelly Oil pf ww 1 8812 881 B8l — 1y 1:00 P.M. . 540000 2:00 P.M 640,000 Sloss-ShefMeld pt . 1308 35 33 * 35" +2 Total sales for the day, . 880,000 Socony-Vac (60¢) _ 13 12% 123 Dividend rates as given in the above o e Sheiis tvm 159 103" 137 T, | cusn TSRS UELEY SirRIn (e o e are e snnu 208 105% South CalEd (1%2)- 18 20 19% 19% — S 0nit of t 19% 12% Southern Pacific .~ 20 18% 17% 18" 4 10| plus Crors F ASoing Joot fha% A00 shares ! Anmual rate_ 161 6 Southern Railway . 35 Th Ti, 7y _ | ISt vear dCompanies reported in' receivership or being | top Air Reduction, Western Union, Beth- lehem Steel preferred, U. S. Steel preferred and Eastman Kodak climbed around 3 to 4 each Other notable gainers included U. S. Steel and Bethlehem common, National Steel, Jones-Laughlin, Con- tinental Can, American Can, Ameri- | can Telephone, Johns-Manville, Allied Chemical, Chrysler, American Tobacco “B,” Liggett & Myers “B,” U. S. Smelting, Westinghouse and Com- monwealth & Southern prererred CHXCAGO LIVE STOCK. CHICAGO. July 5 i 10.000 --Hogs. 3 0-310"_pounds. 200d packing Sows. K.00a5() $.000: calves. 1.000: moderately active trade not much beef in run; mar- ket generally steady to strong on steers and cows with heifers unevenly steady to 25 cents lower: lower grades sharing de ] liberal water-fills tending to_softe 1pours most 9.50a11.00 Nothing strictly choice here aska_steers sold 0. Lower grade fed steers. 11 but strictly choice late Wednesd; grass steers. Sheep. 1: lambs and yearlings active, strong to 25 cents higher, clos at_ sdvance: sheep firm: native shorn yearlings. 2.00a3.25. . NEW YORK BAR SILVER. NEW YORK, July 5 (#) —Bar sil- ver barely steady, 3 lower at 69. 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 FIRST MORTGAGE MONEY On D. C. and Nearby Maryland Real Estate Prompt attention given to all applications SHAN 1505 H St. NON & LUCH Nat. 2345 First Mortgage Money For CONSTRUCTION LOANS and LOANS ON IMPROVED RESIDENTIAL PROPERTY in the District of Columbis 512% Prompt actiow B. F. SAUL CO. 925 15th St. Natl. 2100 First Trust Loans For Purc}:uing a H;nne or RE-FINANCING EXPIRING TRUSTS NO COMMISSION CHARGE NO RENEWALS REQUIRED Terms Arranged on Easy Monthly Payments NAT \TIONAL Syoen Sustvocs 949 lll)l'n‘l mwrnv:.