Evening Star Newspaper, August 2, 1935, Page 13

FINANCIAL. NEW YORK CURB MARKET By private wire direct to The Star. “GURB LIST TAKES UNEVEN COURSE Utilities Only Group Able to Finish Day With General Gains. By the Aszociated Press NEW YORK, August 2—Utility etocks were the only issues able to finish generally higher on the curb | market today. Galns in this group ranged from minor fractions to well over a point and closing prices were in most cases | near the top. In other divisions of the list, how- ever, irregularity prevailed, with de- clines in the majority at the close. Trading was active, BONDS ON THE CURB MARKET. DOMESTIC BONDS High. Low. Close e 83% 83% 103 104 103 DR UBY 083 98 % 20 P02 107% Albama Pow 4! : Bs 40 Alabama Pow Alzbama Pow Alabama Po s Amer G & E 5 Am G & v Amer G & Pow s R0tz 80 58 Can No P 55 A ; e | Cap Ad 5s ' { | Dayt Det Det C Gas 33 B Duke Pow 4%as Elec P&L Emp Dist Emp O & R b¥ Federal Wt 5'; Firestone CM 55 Pirestone Tire bs ' 67 1041 | 104 i 66 10415 1044 104 104 a0, K9, Gatineau P s B Gen Bronze s Gen G o | 1hase | Goeb B 6'as A Grand Trnk_#} 1003, o a5 Iiins No Util 1063 Stock and Ditvidend Ral Alnsworth (al%) Ala Grt So (b2) Ala Pwr pt (1) Allied Mills(a26¢c) Alum’'a Co of Am Alum'n G'ds (40¢) Am Beverage Am Ct P&L A (3) Am Cities P&L B Am Cynam(40c)B Am&For Pw war- Am Founders istpfD____ Am Gas&E (1.40) Am G&E pf (6) Am Lt&Tr (1.20)- Am Maracaibo Am Meter Co_. Am Superpower.. Am Superpw pf. Am Super 1st pf__ Am Tnread pf (25¢) ... Angostura (120c). Arcturus Radio T Ark NatGas A Ark Nat Gas cu pf Art Met W (40¢) . Asso E1 (p21%c). Ass0G&E Ass0G & E (A) Asso G&E $5 pt Atl Coast Fisher . Atlantic C L (b1)- 1008 Atlas Corp Atlas Corp war-.. Atlas Plywood Ax-Fisher(3.20)A Babcock&W (40¢c) Baldw L bd rts(d) Bellanca Aircratt. | Bickfords Ine (1). Bliss Co (EW) __. { Blue Ridge Corp... Blue Ridge pf (3). Blumenthal §____ Bourjois Ing (a25c)_ Bower Roll B (1). Brown Co pf.__ Buckeye P L (3)_. Buf N& EPpf 11.60) Buffalo Niag & Eastp 1st pf(5) Bunker Hill&Sul. Butler Bros [ Cables&Wire (A). Can Marconi Carib Syndicate Carrier Corp Catalin Corp Sales— Add 00, High. Low. Close. 3 2! 508 29 3508 2 1 1258 28 13 2 258 43 320 8005 107' 106 1 4 2 59 99 9 1 1108 1258 2 3 1 10 1 1 7 100s 3758 8 10 6 1 18 2 Celanese 1st pf(7)150s Celluloid Corp Cent Hudson G & E ctfs (80c) Cent P& L 7% pt (11%) Cent States Elec... Central States Electric 6% pf__ | Central States Elec 7% pt | Chasis Corp (1%) Chesebrough (14) Chi Riv&M (1%) Childs Co pt Cities Service. Cities Service pf Cities Sve Power & Light 6 Cities Service Pw&Lt $7 pf Clev Elec 1llu (2). Clev Tractor .. [CeltsPat FA 1% . Columbia Gas & Elec ev pt (5) Columb O&G vtc. | Com’with Ed (4) - Com'wlith&S war Community Wat § | Como Mines Consol Aircraft Cons Copper. Consol Gas of Balto (3.60) | Cons Retail St ContG&E pr pf(7) Contl Securities _ Cooper Bessemer. Cooper Range Cord Corp Corroon & Reyn Corroon & R pf A. Cramp Wmé&Sons. Crane & Co Crane Co ptf (32). Creole Petroleum. Crocker Wheeler_ oft Brewing . Crown Cork Int'l (323¢) Cusi-Mexicana M. Det Gray Iron & Foundry (bloc) Dictograph Prod Distillers C-Seagr | Doehler Die Cast Dow Chemical ( Driver Har(a2ic) | Duke Power (3) .. P S Interst P S Kentuck U Koppers G & C Koppers K&C Lehigh P 8 s Lexington Ut 55 Libby McN & L_ Lone Star Gas 35 - 104 Long Tsland Light 65 45 103 102% 50 1043, 3 1081 Duval Tex Sulph. Eastn G&F Asso stn G&FDLA (6) Eastn G&F prpf (4%) .. astn Sta Pw (A) stn Sta Pw (B) Edison Bros (1) ._. Elec Bond&Share | Elec BdaSh pf (5) ec BA&Sh pf (6) Pwr Associates Pwr Assoc (A) ¥ | Elec Pw&Le 24 Pt ws (3113) ctrographic. . n N Watch (80c) 37 --125s 1 4 508 3 50s pL150s 508 3 8 258 5008 :§ 4 6 3 18 2 508 100s 1 558 11 30 26 35 258 50s Emp G&F 8% pf_ 5 uity Corp. ... European Elec Ltd bd rts | Ex-Cell-O A&Tool Mid W U 2 Milwaukee G&E 4’35 sl 014 | 8813 | at P& L bs A at P & L 58 B at B8 55 7R evada Calif 58 | New Eng G&E 55 5 | News Eng Pow New Ene P 5125 54 | iaz F P tis ‘50 AA” N Am L&P ps it | P | 98 E 70 | N Ohio P&L 55 '5 A No Ohio T&L 5s | Nor Stat P 4! 1057 | 1063 81 ‘U Phil a Elec a R Tr ¢ Pled N R ‘v "y ”wuu:gf o’ 3 A 100 80k 604 106% 1061 106% 191 12 121 104 10i% 1032 5 oY, 90v 00YL | 90 Do o0 108 5 (-4} S 106 29 DRY, LA il 5be 1055 10814 A% 10604 106% 534 1063 105% 101% 101% 1017% 104% 104% 104 % lr:!t" l,m l“g‘ 5% 105% 08% $id: '550e 100k 12 0kl 08% 03% 103% 1 geesserhonsngy )Souw G&E bs A ' 815 | Stinnes 03% Terni So | Fairchild Aviat'n_ Fajardo S (a1%). Falstaff Brewery._ Fanny F C (50¢) . Ferro Enam (60c) Fisk Rubber _ Flintkote (1) A_ Fla P&Lopt ____ Ferd Mot (Can) (1%) A 5 Ford Mot (Can) B (1Y) Ford Mot Ltd al?.7¢) e Froedtert Gr& M conv pf (1.20) General Electric Ltd reg(a37%c), Gen Invest Corp 12 34 35 72 19% 34% 34% 35 29% % 32w 1% 1% Y 20 26! 11 3% 15% 104 9% 5% 5 9% 18 14 1 23 1% 175, 9% 17% 0 140 8 18 21 84 4 33, 3% 3% 40 ) 16% 161 141% 114% 17w 17 B% 81y # % 300s 3 258 3 3508 2 074 1% ¥ M 1% 20% 66 M M & 1% 5% % M % 18 140 G STAR, WASHINGTO Stock and Sales— Dividend Rate. Add 00, High, Genlnvestpf __.. 1 16% GenRayonLtdA- 1 1% Gen Tire & Rub... 50s 42 Georgia Pw pf(8) 100s Glen Alden C (11) 23 Glohe Under (50¢) 1 Gold Seal Ele¢.... 2 Close. 16% 2 124% 13% 8y (al)_ - 2 Grand R Var (50¢) 12 Great Atl & Pac Tea)st pf (7) Greenfleld T&D._. Gulf Ol of Pa. Hartman Tob . Hecla Min (al0e). Heyden Chem(t1) 48y 48Y% Hollinger G(165c) 13% 13% 13 Horn&Hard(1.60) 100s 23% 23% 23% Horn&Hard pf(7) 308106 106 106 Hudson Bay Min & Sm(a0e) Humble O1 (1) ... Hygrade Food 3 1% Hygrade Byl (2)..126s 33 11 P&L 6% pf __. 508 30% Il Pw&Lt §6 pf.. 1260531 Lmp Ol Ltd coupon (t60¢).. 10 Indus Finance vte 4 2 605 126% 1261 126% 1 5% b% 5% 62% 61 61 1 1 1 104 10% 49% 10% 17 16 6 60% 16%: 16 585 1% 32% 30 30 19% LY 6% 19% 1 Insurance Co of North Am (2).. Intl Hydro Elec System cv pt Intl Mining (a30c) lntl Mining war.. lotl Petr (113%) iU Produets ... Intl Util (B) .- Interstate Power (Del) pf Iron Fireman Mfg vie (1) Irving Air C (40¢) Jersey Central P&L pf (5%)._ 1508 Jersey Central P&L pf (6) . 08 Jersey Central P&L pf (7). Jones&Laugh Stl Kirby Petr (al0c) Koppers Gas & Coke pf (6) ... Lake Shore M(12) Lebigh C&N(50c) Lerner Stores (2) Libby McNeill&L Lone Star Gas 30c Long Island Light Long Island Light LA () Long Island Ligh PLB (6) - Louisiana L&Ex.. Lynch Corp (2)... McCord Rad (B) McW1ll Dredg (t2) Maryl'd Casualty. Mead John (13) _. Mem Nat G(al0c) Merritt Chap & S_ Michigan Sugar .. Midvale Co (b1).. 7 Mohawk Hudson 1st of (4) Molybdenum Mont Ward (7) Montreal H Lt Pw (1Y) = Moody’s Inv Sve pt pf (3) Mount Prod (60c) Nat Bella Hess | Nat Fuel Gas (1) Nat P&L pf (8) Nelsner Br pf(7). 255100 Neptune Met (A) 1 6% New Brad O (20¢) 2 N J Zine (2) _, 200 N Y Shipbldg..... N Y Steam 67% 2508 8% 11% 3 T 1% 3% 108 258 2 39% 6 3813 2 69% 3% 1 40 58 71 : 13% A 4305 1401, 140 & 6 30% 30 100s 3014 1 8% 44 2w 1 18% 1008 71 3004 s 2 100 100 | Niag Hud Pw . | Niag Sh Md B Niles-Bem-Pond < | 3y 161, | Ohlo Pwr pf (8) 1141 9 az 2 gy, | Pacific astern A | Pennroad Corp 19% | 994 19 35 49 " | Potrero Sugar | Pratt & Lamb (1) Southw N G gs Staley M1 Stand G&E 6 Stand G&E cv Stand G&E fs 8tand G&E 0s ' Stand Invest bs Stand P&L Gs Sup of Til"4l4s Syracuse L Tenn El Pow Tenn Pub Ser Texas Elect ps Tex P&L 55 A R s A " ubber ‘tis Rubber 6125 Rubber 613 P S 5! 4 A York Rwy &s 37 3 Rout 18017 1 8% 105 oEYs i FOREIGN BONDS. Biep §9, 78 78 : Glas A & L3 Bt S T e et i Sivsd 55 FEFEE F 1352 25350 Jowtne i Sena D SEF L, R IR 3 e S RS A B i o 00 R0 s Farey S3ERLST At b Rz S W SIMEEE: e | Power (A) 40 | Novadel Az (2) | Phila Co (80c) | | | | Rossia Intl Corp_. | Stetson (J B) Nipissing(a1235¢) Noma Elec Corp__ North AmL&P ... 7 Nor Am L&P pt _ 350s Nor Am Util Sec.. Northn Cent Tex Northn Europ Oil. Northern States 1 2 3 13y 10 245, 255 26% 108107y ey 1n 4 2 24 Ohlo Brass B (1)_ utboard Mot B verseas Secur___ PaciticG& E 1stpf (11:) Pac Light'g pt (6) Pac Tin spec (1) | Pan-Am Air (1)_. 4 Pantapec 01} 5 Parker Rust (13) 350s 76 6 273, 508101 1758 | PennCent L& P of (2.80) - 150s | Penn G&E (114)A 4 15 |Penn MF (b75¢)_. 1 5% | Penn Salt (13) 2581011, | Penn W&P (3) 2 76l | Pepperell Mfg(6). 70s 754 | Phoenix Secur.... | Phoenix pf (8) __. Pierce Governor __ Pioneer Gold Mines Ltd (30¢) i Pitney Bo P (30c) Pitts Forge E Pitts& L E (333)_ 70s | Pitts Plate G(12). 11 1 2 1 - P Premier Gold(12¢) Prod Royal( Prudential Invest Puget Sound Pw & Lt §5 pf Puget Sound Pw & Lt 36 pr 1258 Quaker Oats (14) 4208 Reliable Stores N Reliance Corp A. Reybarn Co . Reynolds Invest Richfield Oil (Cal) prior (d) 1 3 13 1 3 100s 2 2 1 4 3 Royal Typewriter 3 Ruberoid Co (1) .. 1508 Ryan Consol .. 4 St Regis Paper 12 St Regis Paper pf 60s Salt Creek P(80c) 2 Schiff The Co (2) 4 Scovill Mfg (1) _ 100s 2 Secur Corp Gen 4 Seiberling Rubber 2 Selected [ndus 13 Selec Industries allot etfs (3% ) 2008 Selec Ind pr (3%3) 1008 Shenandoahpf _ 1 19 Sher-Wilms (4) _ 3100% Shewin-W pf(6)_. 20s107% Singer Mfg (16)_. 1108 300 Singer Mtg Ltd rets (a23%c) 8mith (A 0) Bonotone Corp South Am Gold & Plat (40c) __. Sou Penn O (1.20) Southn Calif Ed o B (1%) Square Deal (B) Stand Oil Ky (t1) Stand Ol Nebr Stand 01l Ohio. Stand Pw&Lt Stand Stlver & L. 300 an 56 1% 8%, 48% 1% 3% 8% 22% 24% 21% 20% % 4% % % 1% 14 11% A% 46 1% 20% 32% 2% 21% Re e g Fd 20 ®© Stutz Motor Sullivan Machine Sun Investing Sun Investing pf_ Sunray 0il > Sunshine M(1.20). Swift Intl (3) Swiss O11 (40¢) Technicolor Inc ., Texas Gulf Prod.-. Thermold cu pf _ Tobacco & Allied Stocks(allz) 2008 Tri-Contl C war__ 11 Triplex Safety Glass(b47 1-10c) 1 Tubige Chatillion. Tubize Chatil A .. Tung-Sol Lamp . Tung-Sol L of (3) Union Am Invest. Union Tabaoco Unit Carr F (1) Unit Corp war Unit Dry Doek(d) Unit Founders Unit Gas Corp Unit Gag Car war. Unit Gas Corp pf. Unit Lt&Pw (A). Unit Lt&Pw nt Unit Molasses Ltd (a6%e) B Unit Profit Share. 1 Unit Shoe Mach 2 0 LA ST 34 T i B o un 2% 38 66% 1% 18 % 1% T 43 [S£27) Ne— ) | Univ Prod (80¢) | Woodley Pet (40¢) | Yukon Gold FREIGHT LOADINGS CLIMB 30% CARS 596,462 Total During Week Represents 13,580 Drop From 1934 Level. By the Associated Press. The Association of American Rail- roads announced today carloadings for the week ended July 27, totaled 596,462 cars, an increase of 3,096 over the preceding week, but a reduction of 13,580 below 193¢ and 48,377 from 1933. Miscellaneous freight totaled 226,906 cars, a decrease of 9,413, but an in- crease of 4,014 over 1934 and a de- orease of 3,570 from 1933. Merchandise in less than carload jots totaled 156,327 cars, a decrease of 1,008, 2,177 below 1934 and 16,535 below 1933. Coal amounted to 102,934 cars, an increase of 13,192; but 26,839 below 1833 Grain and grain products totaled 33351 cars, a decrease of 28; 10,276 below 1934 and 178 below 1933. In the Western districts loadings totaled 22,151 or 5,257 below 1934. Live stock amounted to 9,672 cars, a decrease of 493; 16,623 below 1934 and 5,408 below 1933. In the Western districts loadings totaled 6,893, or 16.035 below 1934. increase of 252; 6,955 above 1934, and 651 above 1933. Ore amounted to 24,013, an increase of 739; 3,210 above 1934 and 5,731 above 1933. Coke amounted to 4,581, & decrease | of 145; an increase of 53 above 1934, | but 2,229 below 1933. e 250 TONS OF LEAD SOLD. NEW YORK, August 2 (#.—The | St. Joseph Lead Co. reports that 250 tons of pig lead from Southeast Mis- | souri mines were sold yesterday at $4 per 100 pounds, St. Louls. Stock and Sales— Dividend Rate. Add 00. USElecPwww._. 2 U 8 Foil 160c) B ] § & Intl Becur_. U S & Int] Secur 15t pf ww US Play C (11) . U S Radiator pf __ U S Rub Reelaim it Stores vie Unit Verde E 40c._. Unit Wall Paper.. High. * 13% 1 1w 68% Utah Pwr & Lt pf (311.16%c) .. 15 Utilities P&L b Utilities P&L pf. 2008 Utility Equities 7 Utility Eq pf(3%)1258 Utility & Indus 2 Utility & Induspf 1 1 2 Venezuela Petrol Waitt & Bond (A) Walker (Hiram) . Walker (H)pf(1) W Va Coal&Coke Westn Alr Exp(n) Western Auto Supply (3) A West Tab&Sta (1) West Tex U pf(3) 258 Westvaco pf (7).. 258101 1015 Will Oil-0-Mat 2 4N 4 bix 5 1 3 2 2008 3 1015 48 Wright Harg f40e = 13 Dividend rates tn_gdeliars based on the last quarterly br gem. tAnnual rate—pius ext dividends, sPaid B b n. & 1,264 above 1034, | EO D. €, FRIDAY, AUGUST DIVIDENDS ANNOUNCED NEW YORK. August 2.—Dividends de- lared (preparéd by the Standard Statl ics Corp.) Initial. e o, Skt B aldwin Rub A pf. 31" I.zelrb ;-20 Baa vk ude Winm Trad vic_$1_- 8-10 8-15 Accumulated. Cent O L&P $6 pf.$1.50 $iitn Vol Gant 7% 5181 2 Regular, o 31 $1.75°Q 8. . 8-15 mr'.npu WALt $1 51 liers Co Ltd a d 1 or ord Teg_ Coi Di SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co.) Allis-Chalmers Co. Am Tel & Tel bl Amer, Beet Suj Atluntic Refining 5s 1 Bethlenem Steel 55 10: 7 Chi’Ga Chi. Northwest. 67 Delaware Hudson 5 I Lrlll!ie Frie & West Lenieh Vailey Conl s 1 5 G . 9 g L ¥ ol St o3 0382 04 Forest products totaled 28,668, an | Si s 19 . 5s 163 o0s. fs 1939 % s 9 503, . & Pa. b8 103 w Warne: A 106% West. N. CHICAGO LIVE STOCK. CHICAGO. August 2 (# (United Sf Department of Agricuiture). —Hogs, ¢ including 3.000 direct: fairly active. s to 10 cents higher than 11.15: bulk. ong hursday: top. good and choice. 180-2 pounds. 10.00a11.10; few finished. 250~ 320 pounds. 10.5( most _smooth and medium weight packing sows. 9.50870; pigs scarce. Catle. 1500: calves. 500: lower grade steers predominating in run: steady to weak; general market closing less active than early in the week. but still sharply higher than week ago. most sieers today, | 7.5080.50; common grassy kinds weight. 6.00 downward: largely a cle market both on steers and s common to medium light butche: active outlet at .25 d ound 9.75; bulls down: stockers and feed at 750 down: desirabl £.00825, Sheep. 9000 slaughter classes steady to strong; native lambs. & early top at outside; throwouts 7.00 down; ewes. 2.0023.50. with an-up -stock; heiters low! bes! steady g 4 slow, steady stock’ ealves. active. REICHSBANK STATEMENT. BERLIN. August UM —The Reichs- ik statement as of July i anges in Reichsmar increased 48.000; decreased 10, creased 11 . decreas 1.000: other assets decreased :17.04%.000 on increased 441 663 000 ligations _decreased ) er liablities increased 5.735.- Total gold holdings. 03000000, Note coverage. 2.57 per eent. Rate of discount. 4 ver cent FOREIGN EXCHANGES. NEW YORK. Au P —Foreian exchange steady: Gri others cents (41::1 i cables, 4 0 D ust 53 2 580 | ed | corresponding week in BUSINESS FORGES ABOVE 1934 MARK Heat Clears Store Shelves of Summer Goods and Spurs Fall Orders. By the Associated Press. NEW YORK, August 2.—A general expansion of business to a higher level this week than during the similar period of last year was found in & survey issued today by Dun & Brad- street. “Accelerated by the unexpected up- turn in the pace of operations of some of the leading industrials, far in advance of the usual period for ex- pansion, more trends reached toward 2 higher level than was recorded at this time a year ago,” it was stated in the review. “Continuous high temperatures and new heat waves in some parts of the country gave retailers an opportunity to clear the remaining stocks of Sum- mer merchandise, making substantial sums of cash available for investment 1n Fall inventories. “Buying at wholesale was advanced by the rising current of consumer de- mand and the greater price stability.” Although retail jrade continued at | an excellent pace, it was declared, the estimated gain in sales for the coun- try was held to a range of 10 to 30 per cent qver 193¢ because of the rising trend of a year ago. “While the gains reported by some of the markets were small, general volume of wholesale orders continued to rise by a larger percentage over the comparative showing of last year,” the review found. “Price uncertainties during July led to the postponement of so much buy« ing that most wholesalers are making preparations for an abrupt gain dur- ing August. * * * “The further advance of industrial operations has lifted the average from 15 to 25 per cent higher than it was for the corrésponding 1934 week. “Employment held generally steady, | with slight gains at isolated centers, although the increase was not in keeping with the advancing rate of activity,” e ADVANCE CONTINUES By the Associated Press. NEW YORK, August 2.—Transit i revenues for the week ended July 27 o [as reported by a representative group of companies, recorded increasing im- | provement over last year as shown | by the Transit Journal indicator, which | stands at 103.08, as compared with the 1934, This | figure, according to the publication, is the highest reached since last Feb- Tuary. WOOL GOODS ORDERS HOLD STEADY LEVELS By the Associated Press. NEW YORK, August 2—While or- | ders in the woolen and worsted cloth | markets continue rather small on the | whole, says the New York Cotton Ex- 1° | change Service, they are sufficient to 0413 Poland Hueoelavia 29 non 2 80c ob - York Hu: tina. 3.07n, Shanghai Mexico Cit VO K71, 18.08n ~ ? keep production up to its current pitch jand suggest further extension of | manufacturing operations. Mills that recently advanced prices on various | classes of goods seem able to secure 1 orders on the new bas Vi IN TRANSIT REVENUES | INANCIAL. Holders Postpone Loose-Wiles Vote Until October 2 By the Associated Press. NEW YORK, August 2—A meeting of stockholders of the -Wiles Biscuit Co., called to ukmm on & refunding nlan, was agjou es- terday until October 3, i It vas anrounced the nage! feld more than zwmmm:n:z c;m stock to be voted in favor of the plan but did not hold enough preferred proxies to insure ratific. necessary two-thirds, R Under the proposal, a new issue of 5 per cent preferreq stock would re- place the present 7 per cent, preferred. BALTIMORE PHONE . PROFIT AT $215,995 — June Operating Revenues Reach $1,094,842 Level—Number of Users Increases. 8pecial Dispateh to The Star. BALTIMORE, August 2—In June operating revenue of the Chesapeake City, serving the State of Maryland, amounted to $1094842. Operating expenses, including taxes, amounted to $878.847. Net amounted to $215,995, Taxes in June amounted to $182,592. more than 25870 000 calls in June, an increase of 4 per cent over the num- ber made in Ju 1934. There were 208,162 telephones in service at the end of the month, 6,328 more than there were in service in June of last year, — INSURANCE STOCKS NEW \I;JR,:(SA. t 3 —New York Sreat Ame: Halifax 50 udine extras g—Declered or paid so far this year '1 FOREIGN BONDS EASE | NEW YORK, August 2 (Special) ~ ! Representative foreign bonds fell 146 | per cent during July, according to the | Foreign Bond Associates, Inc.. index | of 50 representative issues, which de- preciated from 58.67 on June 30 to 57.82 on July 31. The 30 European issues in the index fell 2.73 per cent ! during the month. the 4 Australasian issues fell 0.35 per cent and the 16 Soyth American issues rose 1.18 per cent. & Potomac Telephone Co, of Baltimore | operating income | | Telephone users in Maryland made | INDUSTRIAL NETS IMPROVE SLOW Outlook Bright for Third Quarter in Contrast With Year Ago. BY RADER WINGET, Associated Press Pinancial Writer. NEW YORK, August 2—The slow change in the color of figures in the profit and loss column of corporations from & bright red to a light gray has focused the attention of financial au- thorities on current earnings reports. By and large, American business institutions are climbing higher out of the depression and are showing more favorable net profit reports, but snalysts stress that the road ahead up the hill is longer than the portion al- ready traveled. During April, May and June of this year industrial corporations in the aggregate moved higher than the profit level of last year at this time, but the gain for the two periods was less than the first quarter of this year over the first quarter of last. Financial experts point out that the second quarter ol 1934 was the high point of the year, but the third quar- ter earnings showed the worst com- parison of that year. Favorable Comparisons Due. Industry now is facing the bright- est outlook of the current year for the third quarter, and the comparisor with last year should be highly favor- able, it is predicted in some flnancia' sections. In commenting on the current earn. ings situation, the National City Ba. of New York in its monthly letter de clared: “Even with the improvement indi- cated for the current year, the result | for the six years 1930-35 combined for | all manufacturing corporations in the United States, numbering about 90,000 will be no net return whatever on in- vested capital * * *." Net incomes of public utility and communication companies were oft slightly this year compared with last and the Class 1 railroads piled up » still larger deficit The bank continued: “Operations results in the steel industry made » much better comparison with last yeay in the first quarter than in the sec. ond, while the third quarter is ex. pected to make a relatively favorable comparison, but the steel industry ar a whole has had no return on its in. vestment since 1930." Climb 17.9 Per Cent. A compilation by the bank on the profits for the first half of this year made by 260 industrial corporation: showed a rise of 17.9 per cent over the 1934 first half Improved earnings were shown by many of the companies, including au tomobiles, auto accessories. building materials, electrical equipment, house- | hold goods and supplies, office equip- ment, paper, printing and machinery The total income for the first hal: was $313,057,000 compared with $265, 466,000 last year. EXCHANGES TO BE CLOSED. LONDON, August 2 (#).—All se curity and commodity exchanges herc in Liverpool will be elosed Mon August 5. bank holiday. The Liverpool cotton and corn markets will also be closed tomorrow, August 3 in antieipation of this holida) 3 SHIFTS (¢ singte start) can use /3 of a mile of gasoline Today’s short trips waste your money unless your gasoline has these Three Kinds of Power... You wouldn't like to drive 3 MILES in low gear . . . yet you often do just that in an average week’s stop-and-go driving! Figure out the number of times you shift gears in those daily ‘‘errand drives' —to the office...thebank... theschool...theclub! Then remember that the rapid acceleration of your motor as you ‘“shift” can use 33% more gasoline than steady running. Also, you move over a TON starting from a dead stop . . . and you often do this 30 times a day! So your gasoline must have power for HARD PULLING. But for economy in today’s stop-and-go driving, just one kind of pewer—PULLING~ isn't enough! You must also have power for QUICK STARTING . . . for STEADY RUN Ge And these 3 kinds of power must be in PER- FECT BALANCE! Super-Shell is the FIRST truly balanced gasoline. With its 3 kinds of power, it cuts driving costs 3 ways:— STARTING —With its even volatility, Super-Shell can save up to a cupful of gasoline on every *‘cold"" start. PULLING —Super-Shell can save up to a cupful of gasoline in 10 minutes of hard pulling, or rapid accelerating, or on hills. RUNNING —With its abundant heat units, it can save up to a cupful in every hour of steady running, many motorists report. Remember, when you save 16 cupfuls you save a whole galion of gasoline. There are over 30,000 Shell stations to serve you from Coast to Coast. Stop at one of these stations, and start saving TODAY! Suves on todays Stop-and-go driving