Evening Star Newspaper, July 16, 1935, Page 16

FINANCIAL. CLEARINGS HOLD 10 UPTURN HERE Advance of 26.9 Over Year P Ago Follows Climb Dur- ing June. BY EDWARD C. STONE. Following the marked gain in bank clearings in Washington in June comes the report for the first week in July which indicates a continuation of the notable upswing, an advance ©of 26.9 per cent over the correspond- ing week a year ago. Clearings in Washington in the first week of the present month totaled $20,823,476, against $16,407,784 in the corresponding week of last year, $12,- 573,685 in 1933 and $17,727,781 in the comparable week in 1932. Other cities in the fifth district thowed interesting and important weekly percentage gains. Hunting- ton, W. Va. went against the trend, however, noting a decrease of 16 per cent, while Norfolk, Va., was also be- hind last year by 14 per cent. Charleston, S. C., enjoyed a boom ©f 86.4 per cent; Richmond, Va., re- ported an increase in clearings of 4.8 per cent, and Baltimore scored a gain of 5.1 per cent. The aggregate in- crease for Washington and the other five cities was 8.5 per cent. The Washington gain of 26.9 per tent was fractionally above the ad- vance of 26.8 per cent for the whole country, as reported by the Financial Chronicle. To these figures is added & preliminary estimate for the second week in July which indicates the same trend, upward in spite of the mid- Eummer season. Hamilton's Book Value Gains. President E. C. Graham of the Hamilton National Bank sent a letter to stockholders today reporting book value of the bank’s stock on June 29, 85 $20.40 per share as against $27.31 a share on December 31, 1934, an ad- dition to undivided profits and book value equivalent to $2.09 a share in the half-year period. Mr. Graham reports net earnings ¥rom purely bankings operations dur- ing the six months at $84,887.74, or €1.69 per share. These operating re- sults were augumented by net profits grom transactions in Government bonds and other securities and mis- cellaneous non-operating credits, total- fing $59,268.25 against which the bank charged off losses and established re- gerves for contingencies and other pur- poses amounting to $16,995.40, leaving & net profit from all sources for the thalf year of $127,160.59. The management is more than pleased with the results of the past six months’ operations, the bank official says. However, lack of demand for sound loans and a continuing tendency toward lower interest rates makes it inadvisable to attempt forecasts on the basis of past operations, he adds. During the first six months of 1935 pranch operations &s a whole resulted in net profits of $12,613.74, only one branch showing & moderate monthly Joss. There are certain developments in prospect at this time which will either place this branch on a definitely profitable basis or materially improve the situation, Mr. Graham states. In concluding his letter, the president says business in the trust department has exceeded expectations. Edson Lauded By Financiers. The death of John Joy Edson takes ® leading financial figure from the banking district, 8 banker who had been an active leader for more than half a century. Few financiers make such a long record or such a bril- liant one. Bankers today lauded his long bank- ing and civic service to the community, saying that he leaves a vacancy which will be hard to fill. A review of his life shows an amazing number of ac- complishments which could have re- sulted only through exceptional ability end untiring energy. His service to the Washington Loan & Trust Co. for a great many years has been most valued. After serving Bs president of the institution his ad- wancing years caused him to retire to the chairmanship of the board in fa- vor of the late John B. Larner, after- ward being succeeded by the present head, Harry G. Meem. Up to the very last he kept in closest touch with the bank’s affairs. In late years his services to the Equitable Building Association were of equal value. His office was in the Equitable just across from the bank. Always an optimist, he only recently expressed the opinion that the coun- try will come out of the depression end enter a period more prosperous than any in the past. He felt that a start toward the better times had al- ready been made. Hill on Advisory Commitiee. President Roosevelt recently ap- pointed Julien H. Hill, president of the State-Planters’ Bank & Trust Co. of Richmond, a member of his Ad- visory Committee on Works Allotment. Mr. Hill, who will be the representa- tive of the A. B. A, will assume his position immediately. Al of the members of this advisory board serve in an honorary capacity and the duty of the board will be to pass upon all applications for funds and then recommend to the President such action as they may consider most advisabie. Mr. Hill has always shouldered his full share of the work necessary to promote the development and the wel- fare of Virginia, Richmond and the South. He has been for years the treasurer of the Virginia State Cham- ber of Commerce and in 1931 served @s its president. Potomac Bank to Pay $253,767. Receiver Norman R. Hamilton an- nounced today that the Potomac Sav- ings Bank will begin payment tomor- row of another 121, per cent to de- positors who present proven claims at 1406 G street northwest. This action will bring total payments up to 621 per cent as the bank paid off 50 per cent when it reopened as a branch of tbe Hamilton National. The coming payment involves the distribution of $253,767, which will be shared and welpomed by hundreds of depositors. ‘The report of the receiver, made a few days ago and covering the second quarter of 1935, revealed very sub- stantial progress in collections on out- standing notes. Gas Bonds Market Leaders. ‘Washington Gas 5s, 1958, figured in two $1,000 sales today on the Wash- ington Stock Exchange at 106, again at the high mark for the year. At the esame time Washington Gas 5s, 1960, sold at 118%, a new 1935 top. Rail- way & Electric 4s moved at 104%. Potomac Electric Power 5% per cent stock opened at 114 and closed at 114%, the only transactions of the lowing the rtecent regular dividend Ceclaration. TRANSACTIONS ON THE NE By private wire direct to The Star. Prev. 1938 Stock and High. Low. 51 Acme Steel (12) -eee 4% Adams EXpress.... 28 Adams Millis (2)-.. Y 8 Addressog’h(albc). 12% 435 Advance Rumley___ 147% 104% Air Reduction (13). 20% 15% Alaska Jun (160c).. 1% % Alleg Corp (d) .. 7 2% Alleg pf w$30w (d). 6% 2 Alleg pf wii0w (d). 1% Alleg pf xw (d) ... 21 Allegheny 8tl (1)__. 160 <126 Allied Chem (6) 6 31 Allied Stores 12 Allis Chal 14 Alpha Port Ci 2'% Amal Leather. _. 48's Amerada Corp ( 41% Am Ag Ch Del (2)-- 13% Am Bank Note 43 Am Bk Note pf (3)_ 21 Am Brk Shoe (1) . . 127 119 Am Brk Shoe pt (7) 144 110 AmCan (t4)_ - 168 151% Am Can pf (7) 2i% 10 Am Car & Foundry. 54% 25% Am Car & Fdry pf_. 85% 38 AmChainpf. . .. 3314 225 Am Comecl Aleohol.. 17% 6% Am Crystal Sugar__ 514 2 Am & Forelgn Pwr_ 295 14 Am & For Pw $7 pf_ 34's 29'%% Am Home Pr (2.40). 4% 3 Amlce 37% 27 Am Ice pf (6) 7% 4% Am Internation: 20% 9 Am Locomotive._ 562 32 Am Locomotive pf_. 24% 18'¢ Am Mch & Fy (80c). 913 412 Am Mch & Met vtc_. 21% 13% Am Metals &= 4's 1% Am Power & Light_ 23% 8% Am Pw & Lt $5 pf__ 27% 10' Am Pw & Lt $6 pf_ 16% 10%; Am Radiator - 151 134's Am Radiator pf(7). 24 15% Am Rolling Mill: 9; 4'3 Am Seating vte 47'% 31% Am Smelt & Ref . 117 103 AmS&R 6%pf $13% 144 *121 Am S&R 7% pf (7)- 76 63 Am Snuff (13) ___. 181 Am Steel Foundry_. 88 Am Stl Fdry pf (2)- 3315 Am Stores (12) '3 Am Sugar (2) 18'2 Am Sum Tob (1) .. 9875 Am Tel & Tel (9)__. 72% Am Tobacco (5) ... 74% Am Tobacco B (5) . 21 Am Type Fdrs (d).. 9 Am TypeF pf (d)_. T's Am Water Works__ 48 Am Wat W 1st (6)- 4% Am Woolen_ 3512 Am Woolen pf 8 Anaconda Cop 121 Anchor Cap (60c) 36 Archer Dan M (11). 97 Armour Del pf (7). 3% Armour of Illinols . 55 Armour Il pr pf (6) 4 Arnold Constabl T'3 Asso Dry Goods 807 As=o D G 1st pf(16). 35% Atch To&S Fe (a2). 665 Atch To&S F pf(5)_ 19'% Atlantic Coast Line. 21% Atlantic Ref (1) 32% Atlas Powder (2)_. 15 Auburn Auto_ 2% Aviation Corp —_— 1'2 Baldwin Loco (d) _ Tiy Baldwin Loco pf (d) 713 Baltimore & Ohio 45 364 Bang & AToos (215). 115 106% Bang & Aroos pf(7). 5% 3% Barker Brothers __ 43 82 Barker Brothers pf. 105 5% Barnsdall Corp 50% 37%: Bayuk Cigar (150¢c). 19 14 Beatrice Cre (a50c). 131 11% Belding-Hem (a50c). 17'2 117 Bendix Aviation 19% 15! Beneficial Lo (1%)- 43% 34 Best&Co (2) _ 34% 21% Bethlehem Steel 79 55% Bethlehem St pf_. 26% 14% Bigelow-San Corp. 13% 9% Blaw-Knox ___ 112 103% Bloomingdale pf(7) 10 6% Boeing Airplane __ 59% 39% Bohn Alum &Br (3) 99 90 Bon Ami (A) (14) - 25% 21 Borden Co (1.60)__. 44y 28Y% Borg Warner (1%). 11% 8% Bridgep't Brass 40c. 3Ts 42 241 Briggs Mfg (2) 23% Briggs & Strat (3) . 30% Bristol-Myers (12)_ 90 Bklyn-Man T pf(6). 53 Brown Shoe (3) 3% Brunswick-Balk 4% Bucyrus Erle 815 Bucyrus Eriecv pf_ 62% Bucyrus Erle pt (2) 3% Budd(EG)Mfg____. 213 Budd Wheel __ 8% Bullard Co - 3 Burns Bro pf (d) - 13% Burr Add Mch(60¢) 1 Bush Terminal (d) 10 Bush Term B pf cod % Butterick Co (d) 11% Byers (A M) 32 Byers (AM) pf.. 364 99% 63 33 California Pkg(13%) 1 Callahan Zinc 213 Calumet & Hecla_ 715 Campbell-Wy (a20¢) 8% Can Dry G A (40c) . 9% Canadian Pacific_... 30 Cannon Mills (2)_. 4% Capital Admin (A)- 3215 Cap Adm pf A (3). 45% Case (JI)Co_____.. 3615 Caterpillar Tr (11)- 19% Celanese Corp. 174 Celotex Co (d) 11% Celotex Co pf (d)- 221 Cent Aguire (1%%) .. 6% Century Rib Mills. 38% Cerro de Pasco (4) 3% Certain-teed Prod __ 37% Ches & Ohio (2.80) _ 36 Chesapeake Corp(3) 5 Chi & Grt West (d) - 15% Chi Mail Order (t1). 1% Chi Mil StP&P (d)_ % Chi M StP&P pf (d) 1% Chi & Northwest __ 4% Chi Pneumatic Tool. 20 Chi Pneu Tool pf_. % Chi R 1&Pac (d) . 1% Chi R I&P 6% pf(d) 251 Chickasha C O (2) 315 Childs Co __ 9 Chile Copper_ 31 Chrysler Corp 20 City Ice & Fuel (2)_ 87 City Ice&F pf(6%)- 31 City Stores _ __ 16% 12% Clark Equip (80¢) _ 30% 27% Clev Graph Br (t1). 222 161% Coca-Cola (8) _ 53% Coca-Cola A (3) 15% Colgate-P-P (50c). 9 Collins & Aikman _ 69% Collins & Ak pf (7) 6% Colonial Beacon Oil 14 Colo Fuel & Ir (d) 10% Colo & South.___ .. 7 Colo & Sou 1st pf_ 3% Col Gas & Elec. 35% Col G& Epf A ( 34 Colum Pie vte (11)_ 67 Colum Carbon (4)__ % 39% Comcl Credit (2) __ 112 Comel Cred pf(5%). 56% Comcl Inv Tr (+2).. 175 Comel Solv (160¢) __ % Comw & Southern_.. 291 Comw & Sou pf (3) _ 27 Congoleum-N(1.60). 9 Congress Cigar ___ 23% Conn Ry&Lt (4%)_ 7 ..Consol Cigar. .. 3% Consol Film =t 14% Cons Film pf($1%). 15% Consol Gas N Y (1). 247 100 5 15 Consol Textil % 8% Container Corp (A). 2% Container Corp (B). 4% Contl Baking (A) . 5 Contl Baking (B) 62% Contl Can (2.40) _. 7 Contl Dia F (a30c) - 28% Contl Insur (+1.20) 15% Contl O Del(a37%c¢c) 41% Corn Ex BK&TT (3) % 62 Corn Prod Ref (3).. 149 Corn Prod pf (7)___ 4% Coty Inc & 35% Cream of Wh (12)_ 123 Crosley Rad (a25c). 281 Crown C&S (1) ... 14 Crucible Steel 47% Crucible Steel pf___. 1 CubaiCo. = = 5% Cuban-Am Sugar 40% Cuban-Am Sug pf_. 40 Cudahy Pkg (2%)-. 22% 15 Curtis Publishing... 89% Curtis Pub pf (7)... 2 Curtiss Wrighteo—. 150s 101 Bales— Dividend Rate. Add 00. High. Low. Close. Ohge. 3 31% 31% 1 10% 10% 8 10% 10% 4 146% 145 1 8 16% 16% 4 1% 1 8 4% 4% 1 -8 B 6 4 4 20 28 27 4167 166% 1 7 4% 4% 23 24%. 24 5 - 17% 3 66% 46 26% 104 62 34% 34 30s 1274 127 7 139% 138 5158 158 1 20% 20% 53 b1 T1% 25% 14% 3% 26 3384 3 o canald - o - BowwrwortlonSans 26% q 15% 53 23% 8 194 315 21% 23% 14% a - S NPT R eTNanTaanmme o= S & & - S - > 3 S » (TP TTIUPRER TS JOI0S 108 TOYRE-JUPS -t P PETRPN - - - 2S 1 wBen 1 16 224 3 B5% 7 16% 154 21% 20% 100% 1 50s \ § 4 1308 2808 4% 113% 1 % 66% THE EVENING STAR, WASHINGTON, D. C, TUESDAY, JULY 16, 1935. 1% — W 10% — % 10% —1% 8 ~ 5% 16% — % =1 % 4 4 2T% — % 67 + % 4% —- % 24% — % 1% — % 3 66% — % 58 +1 20% — % 51% —2% Tl e e = TIlLieli+14+ ++ FlE I+ L+ II++++ Fr B EF FR SEES 213 +1% 01 +% 7 1% + % 17 +2% 17 —% TH — % 3 -1% 75 90 — % 48 —y% 13% + % 66% — 5% 19% — % 1% — % 50% 35% + % 18 47 $3% % — % 3% — 16% + 25% + 98% ® ORpEE FREFFES 189 + %] pry High. 23% 8 . 1938 Low. 126% Du Pont deb (6) 104 Dugquesne Lt 1st(5) _— STOCK AVERAGES 15 15 60 Indust. Rails, Util Stocks. Net change. day 62.1 Stock and Dividend Rate. 6% Curtiss Wright (A) 16 Cutler Hammer__ 6 Davega Store; 22% Deere & Co_ 19 Deere&Co pt 2315 Delaware & Hudson 11 Del Lack & West 36 Devoe&R (11) A__ 261 Diamond Mat (11). 34% Diam Mat pf (11%) 3414 Dome Mines (+2)__ 6% Dominion Stores__. 17% Douglas Aircraft _. 13%; Dresser M(b133)A_. 86% Du Pont de N(2.60). 3% Eastern Roll Mills_. 152 110% Eastman Kod (5 22% 29 12 6 2813 26 16% Eaton Mfg (1) 19% Electric Auto Lit 107 Elec Auto L pf (7 3% Electric Boat _ 5% Elec & Mus Ind. 1% Elec Pw & Lt = 214 Elec Pw & Lt $6 pf- 3 Elec Pw & Lt $7 pf. 39 Elec Stor Bat (2%). % Elk Horn Coal (d) 14 Eng Pub Sve $5 pf 143 Eng P 8 $5.50 pf ww 5 Equip Office Bldg ... 8's Erie RR 1stpf 10%: Eureka Vac C (80¢). 15 Evans Prod (al)___ 17 Fairbanks Morse . 711 Fairbanks M pf $3% b Fed Lt&Tr __ .. 3%, Fed Motor T (al0c). 7 Fed Water Sve (A)_ 16'x Fed'd D Strs (160c). 2813 Fid Ph F In (11.20). 1314 Firestone (40c) - 841z Firestone pf (6) A 45% First Nat Strs (23) 973 Foster-Wheeler __ 60% Foster-Wheeler pf_ 2% Foundation Co 19% Fourth Nat 1a1.10 8% Fox Film (A) 30% Frank Sim pf $3% 17% Freeport-Texas (1). 15 Fuller Co pr pf = -_— 2w 81y 44 19% 9% 133 % 4% 10 464 27% 37l 361s % Gabriel Co (A) 5% Gen Am Investors _ 824 Gen Am Trans(1%) 11% Gen Asphalt T% Gen Baking (60¢) __. 115 Gen Baking pf (8)_ 5% Gen Bronze 2 GenCable_ 4 Gen Cable (A)_. 19 Gen Cablepf _ 205 Gen Electric (60c) 32% Gen Foods (1.80) 26% Gen Motors (1) 1171 10742 Gen Motors pf (5) 331 106 27y 32% 25% 35's 22%, 127 32% 17% Gen Print Ink(1.60) 9312 Gen Print Ink pf(6) 1% Gen Public Service_ 15% Gen Ry Signal (1) 16% Gen Refractories _ 14 Gen Stl Casting pf_. 12 Gillett Saf Raz (1) _ 70% Gillett Saf R pf (5)- 23% Glidden Co (t1) 1 Glidden Co (rights) 11 Gobel (Adolf) (d) 14% Gold Dust (1.20) T3 Goodrich (B F) 156% Goodyear T&R 215 Gotham Silk Ho: 20 Gotham Silk H pf_. 1% Graham-Paige 5% Granby Consol. 214 Grand Union ______ 184 Granite City Stl (1). 26 Grant (WT) (t1).. 9% Grt Northernpf ___ 9% Grt North Ore (50c) 26% Grt West Sug (2.40) 140 119 Grt West Sug pf(7) 55 5113 20% Greyhound Corp. ... 68 34 Greene Canan (12)_ 48 Guilf States Stl 1st — 34 108 22% 1056 1% 61 B57% 73 8% 12% 2% 22% 18% 18% 21% 18 25 101 30 Hack WpfA(1%)- Hanna (M A)pf(7)- 16 Harbison Walk (1) 5% Hat Corp of Amer _ 81 HatCo pfww (6%) 1% Hayes Body 85 Hazel AtlasGl (5)_. 11 Hercules Mot (60c). 73% Hershey Choc (3)_— 5% Holland Furnace___ 307 Houd-Hersh (2%3) A 615 Houdaille-Hersh B 49 House Fin pf (3%)- 914 Houston Of 11; Houston Oil 43 Howe Sound (3) __. 6% Hudson Motor Car. % Hupp Motors 9%; Illinois Central 214 Indian Refining- 231 Indus Rayon (1.68). $0% Ingersoll-Rand (2)_ 46% Inland Steel (2)-__. 215 Inspiration Copper_ 4 Insur Shct Md(14¢) 8% Interboro R T (d) — 1% Intercontl Rubber_. 4% Interlake Iron. 25 Int Agricultural 3% Int Car'rs Ltd (20¢) 227 Int Cement (1) . 34y Int Harvester (60c). 1% Int Hydro Elec (A). 22Y% Int Nick Can (60c) . 1% Int Paper & Pw (A). % Int Paper & Pw (B). 21% Int Print Ink (1) _ % Int Paper & Pw (C). 98% Int Print Ink pf (6) 60% Int Silver pf (4)_. 55 Int Tel & Tel 8% Intersttae Dep Str: 6% Intertype (a20c) _— 25 Island Creek C (2).. 49 Jewel Tea (ll s 381 Johns-Manv (#5c) +.1 Unch. Bales— Add 00. High. 5 32 o 4 2 2 7 1 8 3 2 1 3 1 32 1 108 an 3 aZare 3758 M wamasseniBon 10s 7 20s 30s 60s 4 1 08 109'% 109's 2 23 23 1 13 50 Jones&Laugh7%pf 370s 3% Kans City Southn _ % Kaufm'n D S(a40c). % Kelly-Spring T (d)- 6 Kelsey-Hayes (A)._. 3Y% Kelsey-Hayes (B).. 12% Kelvinator (150¢c) 13% Kennecott C (80¢) __ 10 Kim Clark (a12%c). 19% Kresge (8S) (1) .. 113 108 Kresge (S S)pf(7). 29% 22% Kroger G&B (1.60) - 893 Leh Port C pf (3%). 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) 21 Life Saver (1.60) 93% Ligg & Myers (14)B 163 Lily Tulip Cup(1%) 17% Link Belt (80¢)_ 241 Liquid Carb (1) 31% Loew’s Inc (2) .. 1 LoftIne _cooeoee 1% Long Bell Lum (A). 38 Loose-Wiles (2) __. 18% Lorillard P (11.20)_ 22 140 124 Lorillard P pf (7)_ 1% d % La Oil Ref 4T% 34 Louisv & Ni 20% 12% Ludlum Steel 40 McAndrews&F(12). 28 McCall Corp (2)___. T4 McCrory Stores.(d). 61 McCrory Strs B (d). 36% McIntyre Porcu (2) 903% McKeesport T P (4) 1 2 Unch. 184.3 115 133 106 8! 104 +.1 45.4 453 445 417 45.5 348 51.4 349 16.9 157.7 618 325 325 315 311 334 216 40.6 242 239 618 T 24% T 28% 24% +1% T4 28% + % 26% 3016 — 144 — 36 + 33% 5 10% 1% 19% 211 115 14 61 1 17 36% 147 22% 144 25" 2314 34w 34 22% 21% 11% 11 29'5 29% 133 53 46% 65 33 105% 21's 81a 104 2 53 47 66 33 33 106 211 814 104 21% 1 2% 2 109 23 7% 12% 40% 17% 67l 124 2% 49 8 7% 12% . 7% 25% —1% 62 41 54 68% + 15 5%+ % 1 1% 20% — % 1% — % 13% — % 18% 19 24% 2 1 24% 474 109% 109% 109% — % 2 101 1 23% 1 114% 114Y% 114% — 2 3 10 22 4 2 22 13 20s 140 29% 29 29 b L e (e | 291 29% 29% +1% 26% 26 26 — % 5% 5% 5% 14 14% 14 —.% 100% 101 + % 1% 1%+ T T+ % % 87% 87T% 87T% + 15% 15% 16% 32 31% 31% + 28 23 - 17% 17% 17% 301 29% 30% + 32% 32 425 41% 41% + M M - 1% 1% 1%+ 41 40% 40% + 21% 21 21% + 140 140 % 41% 19% 44% 34% 8% 8% % 41% B OFREREFLN FER F EF 82 * » s td I = 26 40% 39% 40 — % 1113 113 3. «% YORK Prey. 1935 Stock and High. Low. Dividend Rate. 5% McKesson & Rob._... 32 McKesson & Rob pf. 20 8 5 18% Mack Truck (1) 80% Macy (R H)& Co(2) 5% Madison 8q Garden. 18% Magma Copper (2) 4 Manati Sug pf (d) .. 23% Mathieson Alk(1%) 5% 85% May Dept Str (1.60) 84% Maytag 15t pf (6) Melville Shoe (2%)- 24% Mesta Mach (1%) 2% Miami Copper.__. 915 Mid-Cont Pet(albc) 8% Midland Steel Prod_ 60% Midl'd Stl 1st pf(8) 99 58 MinnHonR (13)- 111% 105 Minn Hon R pf (6)- 5% 3% Minn Moline Pw. 4 1 MStP&SS Mpt. 10% Mission Corp . 2% Mo Kans & Texa: 1 Mo Pacific (d)__ 10% Mohawk C M (a25c) 55 Monsanto C (1) ___ 21% Montgomery Ward. 66 567 Morrel & Co (3.60) . 31% 17 Motor Products (2) . 7% 367 Mullins Mfg pt_ 10% 4% Murray Corp 6% 3 16% 1% 30% 19% 11 Tha B 32 151 18% 17 4% 343, 29% 175% 9 bdl 76 12% 58% 13 Nash Motors (1) 1413 Nat Biscuit pf (7)__ 13% Nat Cash Rk A(dve) 11% Nat Dairy Pr (1.20). 1% Nat Dept Stores (d) 17 Nat Dept Strs pf(d) 23% Nat Distillers (2) - 145 Nat Lead (5) .. 4% Nat Pw & Lt (802) . 40% Nat Steel (11)_ 36 Nat Supply Co p! 714 Natomas Co (8Uc 43% Newberry J J(1.60. 4% Newporl Industries. - 1813 N Y Airbrake._ 12% N Y Cenural R - NYChi&StLpf _ N Y N H & Hartford 6 NYNH®&Haru pt 2% N Y untario & West 6is N Y Shipbuilding . 69 N Y Steam pt (6) - 80% Noranda Mines (2) - 2 North Am Aviation. 9 North AmCo (1) 35's North Am Co pt (3) 57 North Am Ed bt (6) 13's Northern Pacine 9% Ohio Uil (alde) .. 1 Oliver ¥arm kquip_ 13% Olver ¥ & pr pL A 3% Omnibus Corp ___. 4% Oppenbieim Collins 11 OUs kilevator (6Vc). 4% Otis Steel _____ 2% Lus Steel pr pf. B0 Owens-1ll Glass 184 Pacific G & I (1%)- 19 Pacitic Lig (2.40) 12 Pacinc Muls. 70 Pacitic Tel & Tel (6) 7 Pac Wn Uil (bdve) .. 315 Packard Motors__ 2% Par-rublic cod d). 4% vark Utan__ Y3 Patne Exchan, 8 Pathe kxch (A) % Peeriess MoLor— 6413 Penick & kord (3) ot Penuey J C (2) 4% Peun Coal & Cok Penn KK (1) Peoples Gas Chi 197 o d PeU MUK (1) - 1l 9 Yelrol Cor 1% r'olla Kap LT (a) - % Phila & siead Cal 1% Phillips Petrol (1)_. 4 Pierce v - % Pierce Petroleum 31 Pilisbury ¥l (1.60). iy Pills Screw & Boit.. 22ty PILLS Sleel pi 244 Pits United C pt bl Plymouth Uil bl Pour & Co () 2 1 POrlo £ Am L0b(A) 4 POrto K Am ‘1ob(5) 4% Postal Lel&C pi (u) ‘o Pressed Su Car (d). 64y Pressed SU C pt (@) 42 Proc & Gambi (1ig) 110 Proc& Gam pr (o) -. ZU% PUD SVEDN 3 (Z40) - 0Z PUb SVE N I pL (b %5 PubSve N J pLis). 34 Pullinun 10¢ (3)-—mn b7 Puny UIL_____ 84 Pure Uil 6% pr. 4y Pute Uil 8% pI- da Purily Bakeiies (1) 4 Kadio Corporation 50 Kadio pi (i) A b5l Kadio Corp pa 5. 1% Raulo-kelln-Or (d) 4% K kK dec Ll Cent____ 16%: Kaybestos-Man (1). 297 Keading (2) - 3l Keal SLK Hosiery 1 204 Real Silk Hose i 30s @ Reminglon-rand__. 3 71% Hemington-K 1stpt 1 2% Keo Motor Car_. Y Kepublic Steel. 28% Republic Steel pf__. 28 KepubhicSupicod. 2 17% Reynoius Metals (1, 1z 101 Reynolds M pt (3% 1 12% Reynolds Sp (140¢) 2 55% Reynolds Tob (3).. 30s 43% Reynolds Tob B (3). 26 217 Koan Antelope Lid_ 1 29% Roy’l D(b1.3s 3-10e) 7 12 30s 3 1 6 23 40 46 36% Safeway Stores (3) 4 113% 104% Safeway Strs pf (6) 280s 10% St Joseph Ld (40¢c)- 6 Savage Arms__ 22 ‘Scheniey Distillers. 1% Schulte Retail Strs_ 8 Schulte Re Sirs pf_ % Seaboard Air L «d)- 20% Seab’d O Del (16vc) 3 31 Sears Roeb'k(aTbc) 50 40 Sec Nat Inv pf 3% 260s 7% Servelinc .._..._. 37 14% 9 Sharon Steel Hoop_ 5 1 Add 00. High. 6% 10% STOCK Low. Close. Chge. | High. Low. 6% 6% + % 5% 36% — % 9% 12% + % | 1l%a 96% 19% 22% +2 10% 42% — %| 11% T + 9% 34% + 42 5% — 20 19 15% 14% — 28% 6% — 20% 31 19% 8% — 16% 31 44 11 20% 13% 1 116 111 2% 5014 20 67 1% 121 63 FFEEFFFREIFE P OFEEPRESF ++ 1+ 1++444+1 3 21% 11 % 16 28% Timken e B BT 46 CK EXCHANGE Stock and Dividend Rate. 8% Sharp & Dohme . T4 Shattuck(F G) (25¢) 5% Shell Union Ofl____. 8% Silver King C(40¢).. 6 Simmons Co. 61 Skelly Oil__. 60 Skelly Oil pf ww_. 24 Sloss-Sheffield ptf 15% Snider Packing__ Socony-Vae (60¢) - 20 Sou Porto R Sug(2) 10% South Cal Ed (1%). 12% Southern Pacific___. 5% Southeru Raflway._ 7 Southern Rwy pf. 5 Spalding (AG)_ 591 Speng Chalf pf (12) 314 Sparks-Withington. 32 Spencer Kell (1.60). T% Sperry vtc (a25e) - 8% Spicer Mfg_____. 437 Spiegel-May-Stern_ Stand Brands (1) ... % Stand G & E $4 pf__ 27% Stand Oil of Cal (1) Stand Oil Exp pf(5) 23 Stand Oil of Ind (1) 35% Stand OILN J (11)_. 124 Starrett(L8) (a25c). 58% Sterling Prod (3.80) 114 Sterling Secur (A)_. 6% Stewart-Warner .. 215 Stone & Webster_. 2% Studebaker Corp___ Superheater (50c) . 3 1% Superior Oil. 5 Superior Steel. 34 Sweets Co of Am 14% Swift & Co (150 ymington (d) 7 Telautograph (60c) 4 Tennessee Corp 1614 Texas Corp (1) 28% Texas Gulf Sul (2). 3% Tex Pac Coal & Oil. 812 Tex Pac Land Trust 13% Thatcher M (ad0c) - 6% TheWalr " Third Nat In (a%5¢) 15% Thompson Products 1% Thompson Starrett. 5% Tide Wat Asso Oil_. 84 Tide Wat A O pf(6). 4% Timken-Detroit_ 47y Transamerica(30¢c). T4 Trans & Westn A 51x Transue&Williams. 1% Tri-Contl Corp__. 4% Truax-Tra Coal Truscon Steel —_— 1% Ulen & Co 1 3% Und-Ell-Fisher (2). 1 44 UnCarb&C (1.60)- 14% Un Oil of Cal (1) 82% Un Pacific (6)- - 20% Un Tank Car (1.20). 974 United Aircraft ___ 4': United Air Line vte 7 United Am Bosch._.. 20% United Bisc (1.60) _. 9 25% 6 ; » United Carbon 2.40_ 2 FINANCIAL, Sales— Nes. Add 00. High. Low. Close. Chge. % M+ h 8 8 =% 9% 13% b2 M 88% 40 9% 14 + 9 “ % W % R B (11) 5 5% 671 39 63% 15 184 11 108'» 2. - + 4 STOCKS END DAY WITH STEADY TONE Profit Taking Well Absorbed. Specialties Gain, but Leaders Beat Time. What Stocks Did. ‘Tuesday, Monday. 2 7 9 172 708 lines Urchanged Total issues________ 718 BY VICTOR EUBANK, Associated Press Financial Writer, NEW YORK, July 16.—Specialties were again brought to the front in today’s stock market while most of the so-called leaders were rather neg- lected. Price changes, generally, were quite narrow and profit taking seemed to be well absorbed. The close was fairly steady. Transfers approximated 200,000 shares. The fact that the list was able w travel on a moderately even keel, and to improve substantially in spots, was encouraging to bullish forces, although an attitude of caution was evident in most of the board rooms. Grains, backing end filling indefi- nitely, furnished no stimulus for | stocks. Cotton was inclined to slip. A number of secondary rails developed a better tone in the bond market. Firmness of the French franc was virtually the only feature of foreign exchange dealings. Shares of Coca-Cola came to life with a gain of about 5 points, while Bridgeport Brass, Houdaille Hershey, Mack Truck, Collins & Aikman and | Corn rPoducts advanced a point or | so each. American Telephone, Con- | solidated Gas and Public Service of New Jersey were resistant. The metals were mixed. Cerro de Pasco gained a point. The rails, motors and steels failed to repeat their performance of Mon- | day and the majority were about un- changed to slightly lower. Eastman Kodak, United States Industrial Alcohol, Westinghouse and National AT 1': United Corp.__ 20% United Corp pf (3 8% United Drug_.__ 3% United Elec Coa 71% United Fruit (3)___ 9", United Gas Imp (1) 871: United Gas I pt (5) Distrib ing pf. ecur _ & F S 1st pf (6) 40! U S Gypsum (1) __. © S Hoffman S Ind Alcohol (2). T'2 U S Leather A vte . 14% U S Pipe & F (50¢) 19% U S P&F Ist pf 1.20. 3 US Realty & Imp 94 U'S Rubber 81 U 51 30 | compared with J S Steel pf ( nited Stores (A) Univ Leaf Tob (12) x Univ Pic 1st pfd ___ 1's Univ Pipe & Rad 1 Ul Pw &Lt(A) - 12 Vadsco Sales Corp._. 114 Vanadium Corp 2 Va-Car Chemical 2 Va-Car Chem 6% pf Va-Car Chem 7% pf Va El & Pw pf (6)__ 110s 104 313 Vulcan Detin (a4) _ 1 Wabash (d)_____ _. 26'% Walgreen Co (1.40). 1912 106 104 10s 7413 T4l 1% 281 1'% Walworth Co 5 Ward Baking (A)_ Ward Baking (B) - Ward Baking pf (2) Warner Bros Pic 2 Warner Bros Pic pf Warner-Quinlan Warren Fdy&P (2) Wells Farzo West Pa Elec pf (7) West Pa Pwr pf (6) West Pa Pwr pf (7) Western Union West'gh'se A B 50c_ Westingh se Elec West'h'se 1st pf 315 20% 18 32 90 10 29 16% 144 4644 67 18 4's 11:00 A.M | 5| declarations 1% plus extra | 1astyear. | reorganized. = 4+ > 3 5 %= 1% 114 kY Weston Elec (2) A Westvaco Chi ’40¢) Wheeling Steel ___. Wheeling St pf($1) White Motor White Rk M S(1.40) Wilson & Co (a25¢). Woolworth (2.40) _ Worthington Pump. Worth Pump pf A_ » Wright Aero__ « Wrigley W jr ( Total sales for the day, Dividend rates as given in the above table are the annual cash payments based on the latest quarterly or half-yearly 5 Unit of trading less than 100 shares. 3 Accumulated dividends. d Companies x Ex dividend 160s 10s 508 10s 113 20s 118 100s 116% 35 2% Yellow Truck. 81%; Yellow Truck pf_ Young Sp& W (1), 13 Youngstown S & T_ 3814 Youngst'wn S&T pf e 2% Zonite Products... Approximate Sales of Stocks on the N, Y. Stock Exchange, + T 3 64an 64% +3% 42 3% 3 3%+ % 250,000 12:00 Noon. . 590,000 2:00 P.M. 900,000 470,000 630,000 + Annual rate— @ Paid this vear. b Paid reported 1n, receivership or being PENNSYLVANIA CRUDE OIL PRICES REDUCED By the Associated Press. PITTSBURGH, July 16.—A reduc- tion of 10 cents a barrel in the price of Pennsylvania grade crude oils was announced today by leading purchas- ing agencies. The new prices: Pennsylvania grade in Southwest Pennsylvania lines, $1.67; | Eureka, $1.62; Buckeye, $1.52; Brad- ford district and New York transit, $1.95. All grades were reduced 15 cents a barrel on June 28, making a total of 30 cents in the last month. M’CRORY HOLDERS BACK REORGANIZATION PLAN By the Associated Press. NEW YORK, July 16.—A new In- dependent Common Stockholders Pro- tective Committee has been formed by McCrory Stores Corp. stockholders to support the plan of reorganization sponsored by the Preferred Share- holders Committee, it was announced by J. L. Merrill, chairman of the newy group. Hearings on the reorganiza- tion plan will ccmmence on July 30. METAL MARKET. NEW YORK July 16 (.—Copper, steady; electrolytic, t ‘and future, 8.00; export. 7.90a7.95 quiet; s| an nearby. 52.35° futures. 51.50. unchanged. ~ Lead “Mf; spot. Yorl 15a4.20 East St. Louls. 4.00. Zinc dull; East 8t. Louls spot and future, 4.30. Aluminum 19.00a22.00. Antimony, spot. 12.75. Iron quiet: New ALLEGHANY STEEL COMMON OFFERED 60,000 Shares Placed on Market Today Do Not Represent New Financing. Special Dispatch to The Star. PITTSBURGH, July 16.—The offer- ing of 60,000 shares of Allegheny Steel Co. common stock, announced today, does not represent any new financing or issue of new stock by the company, but represents stock already outstand- ing which is being sold by the holders to provide a more adequate floating supply, Harry E. Sheldon, president of the company, stated today. The sellers are the Hicks, Campbell estate and Sheldon interests, which have been actively identified with the company since its inception and which are still large holders of the com- pany’s common stock, Mr. Sheldon added. The company’s application to au- thorize 18,772 shares of common stock has nothing to do with the present offering, he continued, explaining that these shaxes were originally author- ized to be issued in connection with the company’s acquisition of West Penn Steel Co., but were not needed and so never were issued. CHEVROLET SALES JUMP. NEW YORK, July 16 (#).—Chev- rolet automobile sales in June totaled 97,862 in the United States and pro- Missouri Pacific Railroad—Deficit, five months ended Msy 31, was §7,- 080,882 vs. deficit $5,202,609. Canada and export, amounted to 122,- 300 units. These - figures were the mqummthdmlfl'n, duction during that moenth, including | LACLEDE GAS GAINS EXTENSION ON BONDS By the Associated Press. NEW YORK, July 16.—The Laclede Gas Light Co, St. Louis, which is controlled by the Utilities Power & Light Corp., announced it had com- pleted the extension of 99 per cent of its $10,000,000 refunding and ex- tention mortgage bonds, which were due April 1, 1934. Approximately 77 per per cent in Pprincipal amount of 10-year gold notes, due August ‘1, 1935, have been ex- changed for new collateral trust notes due in 1942 under the company’s plan | and offer of January 18, 1935, it was announced. DEBENTURES CALLED BY FOOD MACHINERY By the Associated Press. NEW YORK, July 16.—Food Ma- chinery Corp. has called for redemp- tion on October 15, at 105 and ac- crued interest, all of its outstanding 6 per cent debentures. John D. Crumey, president, stated in the call that in view of the company’s present finan- cial position it had no specific plans for new financing at this time. MONEY MARKET. NEW YORK. July 16 (#.—Cal! money. paper, unchange serve Bank. 1% per cent, Tllinois Cemtral Railroad—Deficit, five months ended May 31, was $2,- 666,773 vs. deficit $1.361,204, | wheat Distillers were off fractionally to a Q point. Chicago Grain | By the Associated Press CHICAGO, July 16—Profit taking became a depressing factor in the futures market today and prices eased about a cent from early high figures. A late decline in Liverpool wheat | values was followed by weakness here kut there was no pronounced pressure on the Chicago market. Reports of rust spread in Spring wheat in local- ities on both sides of the Canadian border cushioned the decline. Wheat closed % lower to 's higher the previous finish, September, 82%-7g, and corn dis- rlayed independent strength, ending 14 to 1% higher, September, 7 . Oats were unchanged to 's off, Iye unchanged to % off and barley un- changed to % down. Provisions were firm. Low e 5% High. Close 53 R 8510 | BELLIES— g Sept Chicago Cash Market. Cash wheat: No. 2 red, 8414; No. 2, red tough, 823,. Cash corn: No. 1, vellow, 87'43a87!; No. 2, yellow, 87a 87!2. Cash ocats: No. 2, white, 36%.. No rye. Buckwheat, No. 2, 1.19; Soy- .| beans, 60a65, net track country sta- tions; barley. nominal, feed, 34a45; malting, 42a53: timothy seed per cwt,, 2| 3.90. New, 4.00; clover seed, per cwt, 13.00a18.00. Liverpool Grain Prices. $ LIVERPOOL, July 16 (#.—Wheat futures closed easy. Prev. Close. clost | BALTIMORE. Wheat. No. 2 Vi domestic, 74%a; July. 74 New York Cotton By the Associated Press. NEW YORK, July 16.—Cotton was lower today under realizing promoted by talk of improving crop prospects and the court decision on the A. A. A A midday setback carried October off to 11.54, or about 15 points below yes- terday's closing quotation. ~ At the beginning of the final hour {the market was quiet at 3 or 4 points from the lowest. Futures closed barely steady. 11 to 13 lower. July Bleachable cottonseed oil futures closed easy. July, 9.60; September, 9.70; October, 9.70; December, 9.67b; January, 9.72. Sales, 77 contracts, including two switches. b—®id. Liverpool Quotations. LIVFRPOOL, July 16 (. —Cotton. B.000 including 1.000 American; spol. moderate business done; prices 4 point Quotations in pence: America 7.13: s strict 6.58, ordinary, 6.08. 6.55: October. 6 6.11; March, strict good ordinary. 6. tures closed qui uary, CHICAGO LIVE STOCK. CHICAGO. July 168 (P (United Eta Department of Agriculture). — Hogs. 1 0. including 5000 direct: fairly sctive bulk, 24 PO 10.30: heavy butchers scarce; few 270. 1 most medium bulk packing weight 9.3 o Ba8as0. — Cattle. 6.000: calves. market on steers and tly steady on better grades; weak on others. including stockers and feeders: latter class mostly 6.00a50 with better grades, 7.00a75 and common kinds down to 5.50: good Montana yearlings on stock: 7.25: best fed steers. l, strictly choice load aroun cows and lower grade butcher heif: 10 15 cents lower: better grade light heifers steady: bulls, 10 to 16 cents higher; veal- ers weak. ep. 6.000: {at lambs stew 500: very slow 1i mos ers active on all classes; most ly to strong: spots 10 to nd yearlings firm: best _selected lot 8. angers. 7.65a8.50: bulk. 8.40; native slaushter ewes. 2.00a3.20.