Evening Star Newspaper, July 11, 1935, Page 18

TA18 ¥ D.C.BANK STOCKS STAGE COMEBACK Marked Pick-up In Volume on Exchange Reflects Improved Outlook. BY EDWARD C. STONE. Washington bank stoeks are quietly making a comeback in market demand and investment interest. Bank stocks everywhere have been considerably in the discard ever since the Wall Street crash which resulted in so many double liability calls on shareholders that tremendous hard- ships were brought upon thousands and thousands of people who supposed they were carrying the soundest kind of investments. For the first year after the Nation- wide bank holiday there was practically no concern in bank stocks by the aver- age investor. Bank directors have to own a certain amount of bank stock to qualify for service on the boards. Many were interested only in meeting requirements and owned no more. Recently, however, there has been & notable pick-up in the volume of bank stock sales on the Washington Stock Exchange, as well as privately. Banks which were reorganized got rid of the double liability clause and it is now predicted that all banks will be freed from the same drawback within & reasonable time. So far this year Riggs National Bank common stock has figured in the largest turnover on the ‘Washington Exchange, selling around $212 a share. Riggs preferred also has been in good demand at about $110 a share. The last sale in Liberty National was made at $85, Lincoln National sold at $201, National Capital at $94 and National Bank of Washington at $105. American Security & Trust Co. stock has recently figured in several transfers at $198 a share, the turn- over so far this year being next to Riggs Common. National Savings & Trust Co. stock was made at $100 a share. Wash- ington Loan & Trust Co. stock has been among the more popular issues in the past six months, all recent sales having been recorded on the exchange at $200 per share. At the same time several unlisted bank issues have been gaining in popularity. June Financing Takes Slump. State and municipal financing dur- ing June totaled $69,186,305, includ- ing $317,000 of loans made by the P. W. A. and $3,664,085 farm refund- ing loans by R. F. according to the Daily Bond Buyer. In June 1934, the total was $179,739,616, in- cluding $57,326,370 of P. W. A, loans and $8,146,000 of R. F. C. loans. Re- vised total for May of this year was $86.591,074 which included $1,124,000 of P. W. A. financing. This total for the first six months of this year was $600,485,771. George W. White, president of the National Metropolitan Bank, who is confined to his residence with illness, is reported in the financial district to be improving steadily. Mr. ‘White _is one of the best known and most con- servative bankers in the Capital and has been at the head of the National Metropolitan Bank for about 25 years. For many years his father was very prominently connected with the same institution. At the annual meeting last January the Metropolitan Board of Directors passed special resolutions, or a memorial, expressing deep grati- tude and appreciation of Mr. White's splendid service. Incidentally, the bank which he now serves is 121 years old, having been founded in 1814. Commercial Borrowing Lags. Commercial borrowing among the banks in the fifth Reserve district has recently reached a new low mark for the present year, the Richmond Reserve Bank reports. Several other Reserve districts report the same situ- ation. The Washington office of the Pru- dential Insurance Co. of America re- ports that Dr. Harold Willis Dodds, president of Princeton University, has been elected a director. Sales of G. C. Murphy Co. were up 10.3 per cent in the first six months of this year over the 1934 similar period. In June they were 4.8 per cent ahead of last year. The com- pany now has 188 stores in operation. The death of J. P. Yort, vice presi- dent of the Acacia Mutual Life In- surance Co., caused wide regret in the financial district. He had been with the company since 1919, was a mem- ber of the American Institute of Actu- ariés and had a remarkable mind for statistics. * Exchange Trading Lively. In one of the busiest sessions in weeks on the Washington Stock Ex- change, Anacostia & Potomac River Railroad 5s sold up to 93, a new high mark, Capital Traction 5s were in extra heavy demand at 98, and Railway & Electric 4s moved at 105. Capital ‘Transit stock advanced to 19': on a Jarge turnover. There were many other sales at recent price levels. As noted in The 5:30 Star last evening, the board of directors of the Washington Loan & Trust Co. has declared a quarterly dividend of 2 per cent on the outstanding stock, payable August 1, to shareholders of record July 23. Transfer books will be closed between those dates. The Maryland district of the Inter- nal Revenue Bureau, which includes the District of Columbia, reports an increase of over $16,000,000 in col- lections for the year 1934 over the year 1933. Peter Grimm, New York, has been appointed assistant to Secretary Mor- genthau. He will handle matters pertaining to real estate mortgage loans, covering the Federal Housing Administration, Home Owners Loan Corp. and Farm Credit Adminisira- tion. Receiver Hamilton's latest quarterly report on conditions in several closed banks shows substantial increases in collections. Dates of further pay- ments to depositors have not been announced. FOREIGN MARKETS. By the Associated Press. LONDON.—Trading was quiet on the stock exchange today. most of the time being occupied with week end seulemcnu ‘The new 10.000.000 sterling Indian loan was oversubscribed and the books closed within 10 minutes. _ Industrials, _gilt- edged securities and trans-Atlantic shares ‘were better, while other sections were un- decided. The closing was uncertain, PARIS.—Prices were quiet_and irading dull in today's . International shares = marked although rentes showed small losses and the market closed steady. BERLIN—A downward trend in prices took place today with issues losing on an average of 2 points. The closing was Quiet and weak. PARIS BANK CHANGES. PARIS, July 11 (P.—The weekly state. ment of the Bsnk o Fr 8how: following _chan: e S 000 slehs b unchanged, ' Bills discounted at hom CFeased 554.000:000; bills. bought abrosd freneesed 1 000:000; advances increased %9,000,000; circulatio nincreased 99,000,~ i eurrent lccalmu decreased 608,- 000.000; ~ 30-day loans on government Collajeral increased 137,000,000, Rate of discount, 4 Per cent. The last sale in| FINANCIAL. Prev. 1935 Stock and High. Low. _ Dividend Rate. 114 110 Abr & Strauss v!(T) 59 51 Acme Steel (12) 7% 4% Adams Express - 3315 28 Adams Millis (2) % 8 Addressog’h(albc). 10% 4% Advance Rumley__. 147 104% Air Reduction (M)- 1% % Air-Way Elec Appl- 15% Alaska Jun (160c)-. % Alleg Corp (d) - 21 Allegheny Stl (1 125 Allied Chem (6) 314 Allied Stores 49 Allied Stores pi 12 Allis Chalmers.. 48' Amerada Corp (2) . 41% Am Agri Ch (Del) 2. 13} Am Bank Note - 64% 43 Am Bk Note pf (3).. 33% 21 Am Brk Shoe (1) 144 110 AmCan (14) .. 20% 10 Am Car & Foundry. 42% 251% Am Car & Fdry pf. 9 3% 331 1% 6% 617% 25% T0% 57% 28% 2215 Am Comcl Alcohol_.. 62 Am Crystal Sugar_. % Am Encaustic (d)_. 23, Am European Sec._. 2 Am & Foreign Pwr.. 12 Am & For Pw $6 pf. 14 Am & For Pw $7 pf- 37 Am & For Pw 2d pf_ 8% Am Hawaiian SS(1) 17 AmHide&Lpf ___ 291 Am Home Pr (2.40). 3 Amlce _ 415 Am International 9 Am Locomotive ___ 181 Am Mch & Fy (80¢). 4% Am Mch & Metals 413 Am Mch & Met vte_. 13'2 Am Metals - 72 Am Metals pf 24 Am News (13%) 116 Am Power & Light_ 8% Am Pw & Lt $5 pf__ s 104 Am Pw & Lt $6 pf. 16% 10'; Am Radiator_ - 151 134': Am Radiator pf(7)- 24 15% Am Rolling Mills __ 86 66 Am Safety Raz (5)- 915 415 Am Seating vte 264 20 Am Shipbldg (2)___ 315 Am Smelt & Ref. Am Snuff (13) ‘Am Snuff pf (6) ‘Am Steel Foundry _. Am Stl Fdry pf (2)- Am Sugar (2) Am Sug pf (7)- 1812 Am Sum Tob (1)_. 987 Am Tel & Tel (9) 721, Am Tobacco (5) 74% Am Tobacco B (5 9 Am Type F pf (d) - Tia Am Water Works 48 Am Wat W 1st (6)- 47 Am Woolen _ ______ 5. Am Woolen pf___ 21, Am Writ Pap pf (4) 3 Am Zinc & Lead___- 8 Anaconda Copper. 1614 Anaconda Wire 1212 Anchor Cap (60c) - 36 Archer Dan M (11) 3Y% Armour of Illinois - 5512 Armour 111 pr pf (6) 4 Arnold Constable__. 713 Asso Dry Goods 807 Asso D G 1st p£(16) 48 AssoDG2dpf - % Asso Ofl (a80c) % Atch To&S Fe (a2). 1912 Atlantic Coast Line 213, Atlantic Ref (1) 2 Atlas Powder (2) 2 106% Atlas Pwr pf (6)-—- Atlas Tack - Auburn Auto_ Austin Nichols _ 3 Aviation Corp(Del) 2% Aviation Corp new . 1% Baldwin Loco (d) 71; Baltimore & Ohio 914 Baltimore & Oh pf_. 3614 Bang & Aroos (21%). 1064 Bang & Aroos pf(7) .!“ Barker Brother: Barnsdall Corp Bayuk Cigar (150¢). Beatrice Cre pf (7). 72 Beech-Nut P (13)__. 1114 Belding-Hem (a50c). 2 117% Bendix Aviation 15'% Beneficial Lo (1%)- 34 Best&Co(2)-- Bethlehem Steel . 5% Bethlehem Stl pf. 14% Bigelow-San Corp-. 5 Blaw-Knox._ 10?“ n]oomlncdsle l’)f(7) 6!« Boeing Airplane._ 39% Bohn Alum &Br (3) 90 Bon Ami (A) (14)_ 21 Borden Co (1.60)_ 28% Borg Warner (1%). 3% Boston & Maine __ 81, Bridgep't Brass 40c. 2413 Briggs Mfg (2) 231 Briggs & Strat (3) . 30% Bristol-Myers (12). 362 Bklyn-Man Tr (3) -~ 90 Bklyn-Man T pf(6). 1% Bklyn & Queens____ 14 BKlyn & Qpf (2)___ 43 Bklyn Union Gas(5) 53 Brown Shoe (3) 3% Brunswick-Balk 4% Bucyrus Erie 81y Bucyrus Erie cv 623 Bucyrus Erie pf ("‘) 3% Budd(E G)Mfg____. 23 Budd(E G)Mfg pf_ 215 Budd Wheel 8% Bullard Co. 3 Burns Bro pf (d) .- 13% Burr Add Mch(60c). 1 Bush Terminal (d)_ 10 Bush Term B pf cod 11% Byers (A M) 32 Bvers (A M) 6% 15 17% 447 ; 33 California Pkg(13%) 14 Callahan Zinc___._- 21; Calumet & Hecla 713 Campbell-Wy (a20c) 8% Can Dry G A (40¢)_. 9% Canadian Pacific_——. 30 Cannon Mills (2) - 4% Capital Admin (A)- : 3213 Cap Adm pf A (3) 45% Case (J I) Co__ 8315 Case (J 1) pf (4)- 3615 Caterpillar Tr (1 19% Celanese Corp- - 1% Celotex Co vtc (d)-. 11% Celotex Co pf (d) . 221, Cent Aguire (134)_— 6% Century Rib Mills__ 38% Cerro de Pasco (4)- 23 Certain-teed Pr pi 37% Ches & Ohio (2.80 15% Chi Mail Order (11). % Chi Mil StP&P (d)- 2, Chi M StP&P pf (d) 1% Chi & Northwest___ 3% Chi & Northwest pf. 4% Chi Pneumatic Tool. 20 Chi Pneu Tool pf- % Chi R 1&Pac (d)___. 25% Chickasha C O (2)-. 31 Childs Co._- = 9 Chile Copper = 31 Chrysler Corp (11)- 20 City Ice & Fuel (2)— 3% City Stores._ 124 Clark Equip (80 275 Clev Graph Br (1 222 161% Coca-Cola (8) - 57% 53% Coca-Cola A (3) 15% Colgate-P-P (50¢) - 9 Collins & Aikman _ 69% Collins & Aik pf (7) % Colo Fuel & Ir (d) .. 5 ColoF &I pf (d)-. 10% Colo & South..__ 7 Colo & Sou 1st pf__. 3% Col Gas & Elec- 3515 Col G & E pf A ( 341 Colum Pic vte (1 67 Colum Carbon (4) 39% Comcl Credit (2) .. 114% 112 Comel Cred pf(5%). 681% 56Y% Comel Inv Tr (12)_. 115% 111 Comel I T cv pf (6)- 23% 175% Comel Solv (160c) - % Comw & Southern__ 291 Comw & Sou pf (3)- 27 Congoleum-N(1.60). 23% Conn Ry&Lt (43%)-. 7 Consol Cigar _____. 71 ConC prpf ww 6% _ 73 Con Cig pr pfxwé’%. 3% Consol Film 14% Cons Film pf(31%). 15% Consol Gas N Y (1). 723 Consol Gas pf (5)- 1% Consol Laundries. 6% Consol Oil 8% Containér Corp (A). 27 Container Corp (B). 43 Contl Baking (A) & Contl Baking (B)__. 62% Contl Can (2.40) 287 Contl Insur (11.20)- % Contl Motors = 15% Contl O Del(a37%¢c) 41% Corn Ex BK&TT (3). 62 Corn Prod Ref (3)-. THE EVENING STAR, WASHINGTON, D. C, ).CBAKSIONS TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE[STUGISIEFRESSED By private wire direct to The Star. snlu— 00. High. Low. Close. cn:- 80- 113 1121 112% —1 2 58% 6% 67% — % 2 10% 10% 6 10% 10 3 145% 145% 19 159% 156 83 5% 4% 6 61 €0% 26% 24% 65% 1 65% b5 46% 45% 7 2T% 27 70! 62 61 23 140 138 139 18% 18% — % 45% 46% +1 90 -1 3% 3% — % 26% + % L 4++4 EEFRE RS e - ) & & 108 3 241 24% 41 154 14% 10s 150% 150% 58 21% 20% 1 87 87 179 B 50s 23 2% 25 42% 421 3 74w T4 20s 13815 138% 167, 16% 933 92 1 59% 59% 2 138% 138% 3 2% 21% 1264 9414 9619 131 24% —1% S =R 150% + % 1381 —1% 167 + W 93% 1% 591 — 1 138% + 4 21% — % 126% —1 941 —13 96% —1% 134 + % 1 — % % | m— 1 12% 12% 1 444 44y 10s 11412 114% 2 4% 4% 15 9 8% 3 475 47 1 101% 101% AE91T ey 2 11% 72 16% 9 19 3 43% 303, 781y 19% 11% 50! 112 16 1% 16% 18% 42% 293, 1% 19 11% 111% 84 40 98 24% 42 89 13 190s PRIl ++4+++ 11401 41Y% 9815 —15% 1% + % 20 631 —1% 624 +1% 3% % 12% + % 200 89Y% + % 1805 3 13 1 b 2% 50! 13% 53 35 8 3 20% 11% 10 33% 9 42 37 59 5T% 5205 1021/. 10[ 49% — 57 27% 26‘/; 27% — 2 3% 3 3 =13 20s 28y 28Y% 3 26% 26% — % + 58% + 29 44y — 22% +1% % 1% + 10 331 — 9 2 + 58% — 101 W - % 2814 228 218 218 +2 2 55% b5% 55% + % 10 16% 16% 16% — % 4 18% 18 18 =% 108 100 100 100 6 1% 1% 1% 10% 10% — % 14% N‘/: + % 15 - 1% % 7'/& kel T4% 75 Sre 4% -1 89 89'/. — % 4T3 48Y% — % l 113% 118% 113% — % 84 67% 66% 6T% + % Sl 1z — K 6 19% 19% 194 — % 1% 1% — % 50% —3% 3 35% — % 210- 44% +2 % + % 7 ks 4. =3 16 —-% 25% — % 9% — % 2 8% — % 10 —% 3% - % G =3 % % 86 1 + % 54 -% » 140s STOCK AVERAGES 30 15 Indust. Rails, —4 23.7 241 233 32.7 216 Net change . —5 Today's close 62.0 Previous day 62.5 Month ago -- 60.0 43.0 Prev. 1035 Stock and High. Low. 6% 44 Coty Inc 39% 35% Cream of Wh (12) 16% 12% Crosley Rad (a25c). 36 23% Crown C&S (1) __ 431 Crown C&S pf(2.70) 9 1 14 2 741, Crown WP1st pf(4) 200s 31 Crown Zelleb'k vtc- 14 Crucible Steel __ 47% Crucible Steel pt. 5% Cuban-Am Sugar__ 13 4 40% Cuban-Am Sug pf_. 330. 40 Cudahy Pkg (23%)_. 15 Curtis Publishing 891 Curtis Pub pt (7). 2 Curtiss Wright_ 6% Curtiss Wright (A) 16 Cutler Hammer____ 6 Davega Stores. 22% Deere & Co__ 19 Deere&Co pf ($40¢). 2314 Delaware & Hudson 11 Del Lack & West___ 65 Detroit Edison (4)_ 261 Diamond Mat (1) _ 34% Diam Mat pf (11 4314 Dome Mines (12) 6% Dominion Stores 17 Douglas Aircraft_ 1316 Dresser M(b1%)A. 63 Dresser Mfg B 106 865 Du Pont de N(2.60). 131 126% Du Pontdeb (6) __ 113% 104 Duquesne Lt 15t(5) — 8 3% Eastern Roll Mills_. 152 110%s Eastman Kod (5)--. 22% 16% Eaton Mfg (1) - 3y Eitington-Schild 19% Electric Auto Lite 112 107 Elec Auto Lpf (7 6% 3% Electric Boat _. 3, 5% Elec & Mus Ind_. 1 Elec Pw & Lt _ 213 Elec Pw & Lt $6 p! 3 Elec Pw & Lt §7 pf_ 39 Elec Stor Bat (2%). 52% Endicott-John (3) _. 14 Eng Pub Svec $5 pf_. 141 Eng P S $5.50 pf ww 15% Eng Pub Sve $6 pf_. Equip Office Bldg__. eRR.. reka Vac C (80¢). ans Prod (al) 19t 9414 36% 41% 431 12% 27% 23 9% 4 Fairbanks Co pf 17 Fairbanks Morse T1% Fairbanks M pf $3% 5% Fed Lt & Tr-. . - 48 Fed Lt & Tr pf (6) . 3% Fed Motor T (al0c). 1614 Fed'd D Strs (160c). 281 Fid Ph F In (11.20). 16 Filene's (180c) z 106% Filene's S pf (614) - 13 Firestone (40c) - __ 8414 Firestone pf (6) A 45% First Nat Strs (213) 97, Foster-Wheeler . 60%, Foster-Wheeler pf_ 2% Foundation Co._. 19% Fourth NatIal.10.. 8% Fox Film (A) - 30% Frank Sim pf $3'» 17% Freeport-Texas (1). 4% FullerCo2d pf____. 74 Gabriel Co (A)_ 7 Gamewell Co_ 5% Gen Am Inves! 32% Gen Am Trans(1%) 11% Gen Asphalt 7% Gen Baking (60c) 115 Gen Baking pf (8)__ 5% Gen Bronze.. 2 Gen Cable 4 Gen Cable (A) 19 Gen Cable pf_ 50 Gen Cigar (14)_ 201 Gen Eleetric (60c)_. 321 Gen Foods (1.80) -__ 1, Gen Gas & El (A) _.. 597 Gen Mills (3) 265 Gen Motors (1) - 13725 10713 Gen Motors pr (G) 331, 17% Gen Print Ink(1.60) 106 931 Gen Print Ink pf(6) 2% 1% Gen Public Service_ 30% 15% Gen Ry Signal (1) __ 2 %, Gen Realty & Util__ 25% 14% T6% 674 203 37% 23%; 114 B‘a 415 19t 93y 133 % 14% Gen Real & U pf ww 16% Gen Refractories. . 14 Gen Stl Casting pf_. 12 Gillett Saf Raz (1)_. 70% Gillett Saf R pf (5)- 215 Gimbel Bros___ 18 Gimbel Bros pf_. 23% Glidden Co (t1) 1% Gobel (Adolf) (d) 14% Gold Dust (1.20) 714 Goodrich (BF) ___.. 40 Goodrich (BF) ptf 15% Goodyear T&R - 70 Goodyear $7 pf (4 5Y% Granby Consol 21, Grand Union__ 26 Grant (WT) ( 98 Grt Northern pf____ 9Y% Grt North Ore (50c) 5 35% 12% 32% 26% Grt West Sug (2.40) 140 119 Grt West Sug pf(7). 5114 20% Greyhound Corp..-. 2% 1 Guantanamo Sugar 43% 19 Guantanamo Sug pf 24 12 Guif States Steel __ 48 Gulf States Stl 1st 21% Hackensack W(11) 34 30 Hack WpfA (%) 85% 63 Hamilton Watch pf. 1t 1 7 31 1 2 170s 0s 15 Util. Stocks. —4 45.1 « 455 435 428 455 3438 51.4 349 16.9 157.7 618 —5 326 331 304 321 334 216 40.6 242 239 1843 61.8 80s 114 5% 1504 22y 4 |90 25% 108 101 Hanna (M A)pf(7)- 480s 106% 22% 16 Harbison Walk (1) 9% 5% Hat Corp of Amer__ 105 81 1 14 Havana Elec Ry 3% 1% Hayes Body 111 85 Hazel Atlas Gl (5) 141 127 Helme(Geo H) (t5 162 142% Helme(G W)pf(7) 25% 11 Hercules Mot (60c). 85% 71 Hercules Pw (13) _ 6 1 2 1 4 22 8% Hat Co pf ww (6%) 1105 105 1 2% 108 140% 10s 158 224 84 128 122 Hercules Pw pf (7). 1205 124‘4 81% 73% Hershey Choc (3) __ 114% 104 Hershey Ch pf (14). 5% Holland Furnace __ 6% Holland & Son (50c) 30% Houd-Hersh (2%) A 64 Houdaille-Hersh B 49 House Finpf (3%)- 1% Houston Oil (new) . 43 Howe Sound (3) 2% Hudson & Manhat. 6% Hudson & Man pf__. 6% Hudson Motor Car- % Hupp Motors 12% 3% 17% 9% Illinois Central 33 23% Indus Rayon (1.68)_ 95 60% Ingersoll-Rand (2)- 74% 46Y% Inland Steel (2) __ 6% 4 Insur Shct Md(14c) 16% 8% Interboro R T (d) - 3 1% Intercontl Rubber. 7 4% Interlake Iron_ 5 2% Int Agricultural 42% 26 Int Agricul prpf 18435 149% Int Bus Mach (16 6% 3% Int Car'rsLtd (20c). 83 22% Int Cement (1) 48% 3434 Int Harvester (60c). 162 135 Int Harvester pf(7). 2% 1% Int Hydro Elec (A)- 29% 22% Int Nick Can (60c).. 130 124 Int Nickel pf (7). __ 1% Int Paper & Pw (A). Int Paper & Pw (B). % Int Paper & Pw (C). 4% Int Paper & Pw pf. 21% Int Print Ink (1) 981 Int Print Ink pf 42% Int Shoe (2).. 16 Int Silver. 603 Int Silver pf (4) 5% Int Tel & Tel 8% Intersttae Dep Strs_ 70% Int Dept Strs pt (7). 25 Island Creek C (2)-. 36 5'1% gg% Johns-Manv (a25¢). 12% 7% Kaufm'n D S(a40c). 20% 15% Kayser(J)&Co(50c) 2% % Kelly-Spring T (d)- 1 15 Jones&Laugh?%pf- 220s 1 4 12 lll"/fi 83 105% 21% 81 104 H 2% 108 140% 158 224% 83% xzah 114’4 2% 28% 181% 5% 6% 144% % 2 Bt 27% 123% 1% e % % 25% 105% 46% 18% 661 9% 11% 6 27 53% 63 11% 19 1% Dividend Rate. Addo!) Hllh- law Close. CDIC. i+ —21 20% + % 63 +2 28 32y, 83 —2u% 105% —1% 21% — % 8% + % 105 +1 % - % 2%~} 108 -2 140% +1 158 —2 221 — % 83% —1% 123\5 +2l/. 114’& + % 113 + 3% The — 5% 39% 16% — 63% + % 2% 28% + % 181% + % 5% — 144% —1% 2 - 9 27% + % 123% — % 1% + % %—% % — % Th — % 25% — % 105% ~ 47 18% + % 66% —1% 9% — % 11% + % % +3 27 54t —1 63% + % 11% - % 19% + % 1% THURSDAY, Stock an Add 00. High. 4 20% 69 19% 87 17 12 14 30s 95 57 18% 10s 31% 1 20% 6 Kelly-ST 6% pf(d). 6 Kelsey-Hayes (A).. 3% Kelsey-Hayes (B) 13% Kennecott C (60c) - 23 Kinney (G R) Co pf. 19% Kresge (S 8) (1) .. ll! 103 Kresge (S S)pf(7).. 69% b56% Kress (S H) (1) 29 22% Kroger G&B (1.60) 12 Laclede Gas St L 19% Laclede Gas pf. 24 Lambert Co (3) 8% Lee Rub&Tire (50¢) 10% Leh Port Cement.___ 1% Lehigh Valley Coal. 5% Lehigh Val Coal pf_ 5 Lehigh Valley R R_. 67% Lehman C (12.40) __ 14 Lehn & Fink (1%) .. 21% Lib-O-Ford G1(1.20) 94Y% Ligg & Myers (14) _. 93% Ligg & Myers (14)B 16% Lily Tulip Cup(1%3) 13% Lima Locomotive... 17% Link Belt (80c)____ 24% Liquid Carb (1 31% Loew’s Inc (2) - losv. 102 Loew’s Inc pf (6%). 1% 1 Lot Inc 213 1% Long Bell Lum (A). 41% 383 Loose-Wiles (2)___. 130 121% Loose-Wiles pf (7). 22 18% Lorillard P (11.20). 140 124 Lorillard P pf (7)__ 14% 4% La Oil Ref pf (d)__. 19%5 10% Louisv G&E(A)1%. 47% 34 Louisv & Nashv (3). 19% 12% Ludlum Steel 40 McAndrews&F(12). 7% McCrory Stores (d). 612 McCrory Strs B (d). 57% McCrory pf (d) - _. 36% MclIntyre Porcu (2) 90 McKeesport T P (4) 5% McKesson & Rob.__ _ 32 McKesson & Rob pt. 815 McLellan Stores. 18% Mack Truck (1) _ 301 Macy (R H)& Co(2) 5% Madison Sq Garden. 18% Magma Copper (2) . 5 Mallison & Copf __ 20s Manati Sug pf (d) __ 308 ManElmdgtd (d)_. 9 Manhat Shirt (60c). 4 Marine Midld (40c). 12 Market St Ry 10s Marlin-Rockwell(2) 7 Marshall Field . 18 Mathieson Alk(1 1 May Dept Str (1.60) 5 Maytag Co____ 2 Maytag 1st pf (6) _ Melville Shoe (212) x Mengel Co pf - 30s Mesta Mach (1%) 10 Miami Copper_ 1 Mid-Cont Pet(alic) 4 Midland Steel Prod. 8 Midl'd Stl 1st pf(8). 60s Minn Hon R (13) .. 6 Minn Hon R pf (6)- 100s Minn Moline Pw___. Minn Moline Pw pf. M St P&S S Marie. MStP&SS Mpt. Mission Corp.__ Mo Kans & Tex pf. Mo Pacific (d) 4 Mo Pacific pf (d) Mohawk C M (a2 Monsanto C (1) _ _ Montgomery Ward .. Tix Motor Products (1). Motor Wheel (30c) - Mullins Mfg Mullins Mfg pf 4 Munsingwear Inc_ Murray Corp__ r F E &Co(1.60) - S o S T 10 o 1 10s 12 = - S mElmErwadanene =caa ash Motors (1) ‘4 Nat Biscuit (1.60) at Biscuit pf (7). Nat Cash R¥ A(50¢) at Dairy Pr (1.20) Nat Dept Stores (d) Nat Dept Strs pf(d) Nat Distillers (2)__ \at En & Stpg (2)__ Neisner Bros (i1) Newberry J J(1.60). ewberry J J pf(7) ewport Industries N Y Airbrake NYCentralRR___ Y Chicago & St L. Y Chi & St L pf Y N H & Hartford Y N H & Hartf pf. Y Investors (d) .- Y Shipbuilding Y Shipblde pf(7). 100s N Y Steam pf (6) _. 10s Noranda Mines (2)_ 5 North Am Aviation. North Am Co (1) __ North Am Co pf (3) North Am Ed pf (6) 13% Northern Pacific._. 357 Northwest Tel (3)-. 40s 14} 9% Ohio Oil (al5c) - 1 Oliver Farm Equip_ 13% Oliver FEprpf A __ 4% Oppenheim Collins_ 111 Otis Elevator (60c). 4% Otis Steel ___ 23% Otis Steel pr 80 Owens-Ill Glas: 131 PacificG & E (1%). 19 Pacific Ltg (2.40)_. 12 Pacific Mills ___ 7 Pac Wn Oil (b40c) 315 Packard Motors 10% Pan American Pet__ 1; Panhandle Pro & R 613 Panhandle P&R pf_. 214 Par-Public cod (d)- 2% Park Utah _ 13 Pathe Exchange. 814 Pathe Exch (A)-. 814 Patino Mines _ 81 64'3 Penick & Ford (3) 77 57% Penney J C (2). 110 103% Penney J C pf (6)__ 3 Penn Dixie Cement._ 25% 17% PennRR (1) _ 116% 110% Peoples DS pf(sl,,j 347% 17% Peoples Gas Chi_ 9% Pere Marquette_ T34 Petrol Corp .__ 12% Phelps Dodge (a2 23 Phila Co 6% pf (3)- 381 Phila Co pf (6) new. 1% Phila & Read C&I__. 35% Philip Morris (1) 13% Phillips Petrol (1) 1% Pierce Oil____ 31 Pillsbury F1 (1.60)_ 7 Pitts Coal 26% Pitts Coal p: 515 Pitts Screw & 1% Pitts United Corp.. 241 Pitts United C pf. 61% Plymouth Oil _ 614 Poor & Co (B)_ 1% Porto R Am Tob(A) 4% Postal Tel&C pf (d). 54 Pressed Stl Car (d). 614 Pressed Stl C pf (d) 51% 42% Proc & Gambl (1%). 120% 115 Proc & Gam pf (5) . 39% 20% PubSve N J (2.40).. 99% 52% 10% 1% 14 6% 4 RadioCorporation._. 62% 50 Radio Cor pf A(3%) 59% 35% Radio Corp pf B_a_. 2% 1% Radio-Keith-Or (d) 21 16% Raybestos-Man (1). 15 5 Reis (Robt.) 1st pf. 11% 17 Remington-Rand__. $1.20 DIVIDEND VOTED BY FIRST BOSTON CORP. Bpecial Dispatch to The Star. NEW YORK, July 11.—Directors of the First Boston Corp. here yesterday declared a dividend of $1.20 per share, payable on July 25, 1935, to stock- holders of record on July 12, 1935. In a letter being forwarded . to stockholders, the First Boston Corp. advises that, for the period from Jan- uary 1, 1935, through June 30, 1935, the net income of the corporation is estimated at $1,803,000, and that the payment of this dividend is not to be considered as establishing any regu- lar dividend rate. 34 Pullman Inc (3) 5% Pure Oil 49% Pure 0il 8% p! 8% Purity Bakeries (1) JULY 11, 1935. Prev. 1930 Low. 71% Remington-R 1st pt 6 70 Remington-R 2d pf. 840- Stock and Bal 5% Revere Copper. 13 Revere Copper (A)_ 17% Reynolds Metals (1) 108% 101 Reynolds M pf (5% 23% 12% Reynolds Sp (t40c). 52% 43% Reynolds Tob B (3) 12% 5% Ritter Dental __ 18 43% 29% Roy’l D(b1.35 3-10c) 28 +1 258% — % 10% 145 + 1% T T + % 8T + % 15+ % 31% — % 114% 114% — % 113% 113% —1% 17% 17% — % 20% 21% + % 2% 28% + % 3% 32 — % 434 43% — % 1057 105% —1% W 1% 1% 1% - % 39% 39% — % A 121% 122% + % 46 36% Safeway Stores (3)_ 113% 104% Safeway Strs pf (6) %| 114% 110 Safeway Strs pf (7) 21% 10% St Joseph Ld (40c)- 2 % St L-San Fran (d) . 6 Savage Arms__ 22 Schenley Distillers. 8 Schulte Re Strs pf_. 1% Seaboard Air L (d) - % Seaboard A L pf(d). 203 Seab'd O Del (160c). 31 Sears Roeb'k(a7sc) 40 Sec NatInpf(f1%) % Servel Inc 9 Sharon Steel Hoop... 3% Sharp & Dohme __ 44 Sharp&Dpf (3%)- 5% Shell Union Oil 8% Silver King C(40c)4 6 SimmonsCo.___ 5% Simms Pet (a50c) 21 21,-—% 615 Skelly Oil____ 139 139 + % 13 Sloss-Sheffield . ' 4 24 Sloss-Sheffield pf. 18% 15% Snider Packing 40 11 Socony-Vac (60c 184% 20 Sou Porto R Sug(2 10% South Cal Ed (1%)- 45% 12% Southern Pacific___. 5% Southern Railway . 7 Southern Rwy pf___ 3% Sparks-Withington. 32 Spencer Kell (1.60). T4 Sperry vtc (a25c) 813 Spicer Mfg_ 33Y% Spicer Mfg pf (3) - 43% Spiegel-May-Stern_ 13% Stand Brands (1)__. 215 Stand Com Tobac 1% Stand G & E $4 pf__ 4% Stand G & E $6 pf__ 6 Stand G & E 37 pf _ 27% Stand Oil of Cal (1) 23 Stand Oil of Ind (1) 35% Stand OIlN J (1) 124 Starrett(LS) ( 58% Sterling Prod 31y Sterling Secur pf_ 6% Stewart-Warner_ 215 Stone & Webster_ 21 Studebaker (,om_ 50-, un Oil (11)_ eFmaatBlacant =1t ift & Co (i50¢) - 7 Telautograph (60c) 4 Tennessee Corp 161 Texas Corp (1) 28% Texas Gulf Sul (2). 14 Texas&PacRR __ 314 Tex Pac Coal & O 813 Tex Pac Land Trust 13 Thatcher M (as0c) - 5% The Fair____ - 2 Third Avenue 13% Thompson Products 1% Thompson Starrett. 75 Tide Wat Asso Oil 84 Tide Wat A O pf(6) 106% 100 Tide Wat Oil pf (5). 4%, Timken-Detroit____ 28% Timken R B (11) 47 Transamerica(30c). T% Trans & Westn Air_ 5% Transue&Williams_ 17 Tri-Contl Corp . __ 69 Tri-Contl Cor pf(6) 36 Trico Prod (212)___ 312 Truscon Steel 18 Twin City R T pf 53% Und-Ell-Fisher (2) 29 Un Bag&Pap exrts x 44 UnCarb& C (1.60) 14‘. Un Oil of Cal (1)__ “n Pacific (6) ____. nzl Un Pacific pf (4) 207 Un Tank Car (1.20) 97, United Aireraft_ 412 United Air Line vte 7 United Am Bosch __. 20% United Bisc (1.60) 46 United Carbon 2.40_ 114 United Corp____ 20% United Corp pf (3). 8% United Drug__ 4'; United [')'ewond, 3% United Elec Coal___ 71% United Fruit (3)___ 9Y% United Gas Imp (1) 871 United Gas I pf (5) 214 United Paperb'd (d) 1% United Piece D W 10 United Pce D W pf 65% US&F S 1st pf (6) 40% U S Gypsum (1) 5 U S Hoffman __ 354 U S Ind Alcohol (2). 314 US Leather vtc.___ T2 U S Leather A vtc__ 143, U S Pipe & F (50c) 3 USRealty & Imp__ 914 U S Rubber 2 2412 U S Rubber 1st pf__ 95 USSmelt&R (ab) % Sm & R pf (3%3) 190s o A IS DR W o ) + 14410 Tobacco (15) S Tobacco pf 31; United Stores (A) . 46 United Stores pt 51 TUniv Leaf Tob (f 1% Univ Pipe & Rad_ 12 Univ Pipe & Rad pf. 1 UtilPw &Lt (A) _— 14 Vadsco Sales Corp._. 11% Vanadium Corp 11% Van Raalte _ 34 Vick Chem ( 213 Va-Car Chemical___ VaEl & Pw pf (6).-_ — 415 Waldorf Sys (b20c) 26% Walgreen Co (1.40). 114 Walworth Co 21 Warner Bros Pic___ 141 Warner Bros Pic pf. 21; Warren Bros_____ 3012 Wesson O&S (150¢) 34 West PaElec (T)A 36 West Pa Elec pf (6) 3974 West Pa Elec pf (7) 95 West Pa Pwr pf (6) 1% Westn Dairy 4 %y Westn Dairy 20% Western Union 18 West'gsh'se AB 323% Westingh'se Elec 10 Weston Elec Inst___ 29 Weston Elec (2) A 16% Westvaco Chi ‘40c) 46% Wheeling Stl pf(§1) 67 White Motor.______ 1313 White Rk M S(1.40) 1 Wilcox Oil & Gas _. 3% Wilson & Co (a25c). [+l 1+ #]| 408 Woolworth (2.40)__ 25% Worth Pump pf A__ 150s % 35% Wright Aero_______ 110s 82% 73% Wrigley W jr (13)_. 2 24 17% Yale & Towne (60c) 1 4% 2% Yellow Truck _____ 4 42 31% Yellow Truck pf___. 29 18 YoungSp& W (f1). 8 21% 13 YoungstownS& T.. 8 1 1 3% 1% Zenith Radio_ 4% 2% Zonite Product cash declarations. s Unit of trading less than 100 s plus cxtra. 3 Accumulated dividends. last year. reorganized. x Ex dividend 8515 84% 3 14% 524 0 + Annual rate-— a Paid this year. d Companies reported in receivership or being Dividend Rate. Add 00. High. Low. Close, Chge. 86 85 3 3 64 Applvxinlu Sales of Stocks on the N. Y. Stock Exchange. | 0 Noon 500,000 780,000 Dividend rates as given in the above mm are the annual yments based on the latest quarterly or half-vearly FINANCIAL., Net. +% +% BY PROFIT TAKING Some Alcohols, Chain Stores u and Metals Resistant, * but Others Ease. What Stocks Did. ‘Thurs. = -1% % +h 3 Wed 0 Unchanged " Total issues BY VICTOR EUBANK, Associated Press Financial Writer. NEW YORK, July 11.—The stock market reversed itself today as profit , | taking appeared in more than usual »| volume. Some of the alcohols, metals and chain stores bucked the trend, but favorites of the past few weeks backed up fractions to 2 or more points. The close was heavy. Transfers approxi- mated 1,000,000 shares, The news, generally, was not par- ticularly depressing and the reaction was attributed largely to technical | factors. A drop in wheat at Chicago, follow- ing the Government’s crop figures, did not brighten the picture. This cereal | however, more than halved its extreme losses near the finish. Cotton sagged sympathetically. Bonds of the sec- ondary categories dipped. Foreign ex changes yieldea moderately to dollar. Some support came into the market in the final hour and small gains were shown by American Commercial Alcohol, U. S. Industrial Alcohol, Schenley, National Distillers, New- berry, Dome, International Nickel and | Cerro de Pasco. Bethlehem Stee] preferred got up a point, but U. S. Steel preferred and the other steels pointed lower. Kenne- cott and Anaconda were about changed, as were General Motor: Woolworth, American Smelting and Santa Fe. Allied Chemical lost about 3 and lesser losers included Du Pont Case, American Can, Eastman Kodak Sears Roebuck, Johns-Manville, Union Pacific, Delaware & Hudson, Ameri- can Telephone, Public Service of New Jersey, Consolidated Gas and Ameri- can Tobacco “B.” + % +1 the Chicago Grain By the Associated P CHICAGO, July 11.—Notwithstand- ing trade assertions that the domeu.. ; | Southwest wheat crop has been of- fiically overestimated 40,000,000 bu es late today failed t | recover in full from 'early severe set- backs. Throughout the day, displayed unusual nervousness and registered many rapid changes in | sentiment. Heaviest hedging sales of | the season were a complicating fac- tor. together with bearish effects of * | Government crop estimates. Wheat closed unsettled, 1 to 1* | cents under yesterday's finish, Sep- ember, 84a84';; corn, ’:all, down, September, 747.; oats, ';a% off, and provisions varying from 5 cents de- cline to an equal advance. WHEAT — Oven. High Low uly ~ Ny N the grain pits Market. new, No. 2 red, — '|79%,, tough: No. 3 red, 80, tough +, | corn, No. ow, 86%;a 86'2; No. 3 | vellow, 85a85'.: oats, No. 2 white | 357.a36; No 3 white, 33%; no rye: buckwheat, No. 1, 1.25; no soy beans; ]bar]vs‘ nominal. feed, 35a47; malting | 50a80: timothy seed, 4.90 hundred- weight; new hundredweignt; | clover seed, 13.85al 87,3 Liverpool Grain Prices. i Low. Close, Pr. Cl BALTIMORE. 1 Wheat No. 2. red. W domestic, i New York Cotton | By the Associated Press. NEW YORK, July 11.—Cotton sagged today under scattered selling promoted by continued favorable weather in the belt and weakness in | wheat. Declines of 14 to 17 points were checked by trade buying and cover- i ing, and there were slight rallies, with : | the midafternoon market ruling about 10 to 12 points net lower. Futures closed steady. 9 to 11 lower. ieh, Low. Close. Cottonseed Oil. Bleachable cottonseed ofl futures closed barely steady. September, < | 10.08b; October, 10.11b; December, 10.06; January, 10.09b. Sales, 40 con- | tracts, including 4 switches. b—Bid Liverpool Quotations. LIVERPOOL. July 11 (# —Cotton, 6.0 bales. ncluding 3.000 American: spot in. | creased in demand: prices 1 point higher Quotations in pence—American strict #ood middling. 7.48; good middling. 18: strict middling, 7.03; middling. 6.98; striet low middling. 6.88; low middling, fltLX strict Puod ordinary. 6.43; good ordinary, 6.1 ¢ uly, tobe: January, 6.13% U.S. TBEASUBY POSITION. By the Associated Press. The_position of the Tre was Receipts, 10:110.4 b Paid | ry on July * expenditure. RAIL EARNINGS DOWN. NEW YORK, July 11 (#).—For the five months ended May 31 Wheeling & Lake Erie Railway Co. had net income of $451,881 after charges and taxes, equivalent to $3.80 a share on the 7 per cent prior lien preferred stock, in which there is an accumu- lation of preferred dividends. This compares with $582,864, or $4.90 a share, on the 7 per cent preferred in the fiv emonths ended May 31, 1934. Northern Pacific Railway deficit, five months ended May 31, was $5,370,406 vs. deficit $3,612,259, BARNSDALL GAINS SEEN. | 53500770 0, bujance. ™ 15074 NEW YORK, July 11 (#).—Barns- dall Corp. announced that results for June under the plan of readjustment, whereby the company aivorced itself from its refineries and marketing units, showed a profit after all charges and after reserves for depreciation, acquisition of new leases and well drilling, of $201,899. 200 TONS OF LEAD SOLD. NEW YORK, July 11 (#).—The St. Joseph Lead Co. reports that 200 tons of pig lead from Southeast Missouri mines were sold yesterday at $4 per hundred pounds, St. Louls. 720, “Receipts for the fiscal vear July 30, $05.566,514: ex»endn'ur:s Pre | 437045 (incluging $18555%.556 ot em y i H exces& of ‘QXD;H(' 2. lectease of the previous day: gold 969,756, FOOD INDEX TURNS UP. NEW YORK, July 11 (#).—Follow- ing the steady downward trend in food prices at wholesale since early last April, the Dun & Bradstreet week- ly food index advanced 2 cents in the last week, to stand at $2.58 for the period ended July 9. This figure com- pares with $2.16 at this time last year.