Evening Star Newspaper, August 2, 1935, Page 14

"A—14 %33 FIN: N NEW RECORD SET | BY PEPCO QUTPUT North American Co. Reveals Largest Capital Total for Half Year. BY H. B. ROGERS. For the first six months of 1935 the electric output of North American sub- sidiaries, including the Potomac Elec- tric Power Co. of this city and Brad- dock Light & Power Co., was greater than for any half-year period in the history of present subsidiaries. This was recorded in the quarterly Teport of President J. F. Fogarty to stockholders of the North American Co. The improvement in electric out- Put noted in the 1934 annual report has continued to be substantial, says the report, the volume of 1,296,197,755 kilowatt hours for the second quarter being only slightly less than during the first quarter, in spite of the usual seasonal decline. For the 12-month period total op- erating revenues were $103,250,914, an increase of 1.38 per cent over the 12 months ended June 30, 1934 Capital Transit Co, of which the North American owns 51.3 per cent of the capital stock, was not included in the consolidated income tabulated staterment, nor was the North Amer- ican Light & Power Co. Transit Report Delayed. Capital Transit up to noon today had not filed its delayed June report with the Public Utilities Commission at the District Building. North American re- port, however, refers to this company’s half-year perioa in part as follows: *The proportion of the consolidated earnings, ir excess of dividends paid, of Capital Transit Co. and subsidiaries (subject to the adequacy of the pro- vision for depreciation of the latter company and its subsidiaries) and of the deficiency of consolidated earnings of North American Light & Power Co. and subsidiaries (after provision foi unpaid cumulative preferred dividends of the latter company and its sub- sidiaries for the respective periods) applicable to the holdings of the North American Co. and subsidiaries from the dates of acquisition stated above, combined. amount to a net de- ficiency of $1,184,003.62 applicable to the period ended June 30, 1935, and| of $1,16883750 applicable to the! period ended June 30, 1934. i “Operating revenues, operating ex- penses and al' other details of the in- come of transportation properties con- veyed by Washington Railway & Elec- | tric Co. (a subsidiary of the North | American Co.) to Capital Transit Co. | on December 1, 1933, are included for | the five months ended on that date in | the income statement for the penocl‘ ended June 30, 1934.” A. B. A. Attitude Outlined. Attitude of the American Bankers' Association toward the pending bank bill in conference is communicated to | members of the A. B. A. by R. 8. Hecht, president, in a letter dated from Washington, yesterday, more in | the form of a message of information than of argument or appeal. After outlining the status of the bill before the conference, Mr. Hecht says: “Among the differences to be ad- Jjusted by the conferees the two that geem most important to us are: First, 1o change the provision in the House bill, which provides for a compulsory assessment of one-eighth of 1 per cent by the Federal Deposit Insurance Corp., to a maximum of one-twelfth of 1 per cent, as provided in the Senate bill; second, to maintain the principle of adequate representation of the Fed- erad Reserve banks on the Open Mar- ket Committee, with full voting powers, as provided in the Senate bill, instead of letting such representatives be a mere advisory committee without vote, as provided in the House bill. “It is impossible, at this time” wrote Hecht, “to predict the ouicome of these conference meetings, but we are hopeful that an agreement will be reached some time during the month of August. “We wish to take this opportunity o express our sincere appreciation for the fine co-operation which has been given to your officers and committees by bankers throughout the country, and we shall attempt to reciprocate by keeping vou informed on future im- portant developments.” Business Outlook Hailed. Banking, official publication of the American Bankers' Association, com- ments optimistically on the business outlook. “There is a steady undercurrent of business improvement,” it says, “large- 1y independent of Government aid and more apparent in comparisons of sea- son with season than month with month. The process of recovery, while slow, seems fairly sure, although doubts are inspired by the political outlook, continued Federal deficits and the possibility of labor disputes. Two other factors must be put down as unfavorable. One is that production in some instances has been main- tained above consumption, with the prospect that stocks will accumulate 2nd force price recessions. The other is the tendency of business to hold back until the works relief program can be properly forecast and evalu- ated. Business in general, however, is preparing for a substantial rise in trade and industrial activity this Fall.” The conservative National City Bank of New York, in its current bulletin declares: “Trade and in- dustrial reports during July have been better than even the optimists had looked for. The month is not ex- pected as a rule to provide any event- Tul business developments other than the Fall merchandise openings, and after the good showing made by the industries during the first half year, a considerable let down in Midsummer season would not have been surpris- Notes of Financial District. P. J. McMahon, vice president and assistant treasurer of the Munsey Trust Co. is-at Atlantic City on va- cation. C. J. Gockeler, assistant vice presi- dent of the Hamilton National Bank leaves tomorrow on vacation at Mar- zate, N. J. J. R. McMullan, assistant vice pres- ident of Riggs National Bank has gone to North Carolina on vacation D. J. Callahan, jr., assistant cashier, and R. Earle Haycock, auditor of Riggs, have both returned from va- cation. Eliot H. Thomson of Washington Loan & Trust Co. has left for vaca- tion on the Severn River. Robert L. Flather, assistant secre- tary of the American Security & Trust Co. has returned from vacation Anacostia & Potomac Railroad 5s, some of which are to be retired by the Baltimore National Bank, " by momentarily expected tenders, sold at 94 on the Washington Stock Exchange today. The only other sale was Capital Transit at 19%, as compared with last prior sale of 20. TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE By lrlnu wire llnq to The Star. Adaoo High. Low. Close. cnn Pprev. | High. 114 CIAL 1938 k and Low. Dlvldend Rate. 32 Abr & Strauss (t1). 110 Abr & Strau 4% Adams Exp: : 28 Adams Millis 8 Addressog’h(sl5c) l': Advance Rumley__. % Affiliated Pro (60c)- l(‘&’lfi Air Reduction (13)_ 15% Alaska Jun (60c) .. 1': Albany Wrap Paper % Alleg Corp (d) 2% Alleg pf w$30w (d). 2 Alleg pf w$40w (d). 6% Alleg pr pf (d) - 21 Allegheny Stl (1) 125 Allied Chem (6)._. 'i‘: Allied Stores Allied Stores pf (5). Allis Chalmers ____ Alpha Port Cmt (1). Amal Leather _____ Amal Leath pf (12)_ : Amerada Corp (2)_. Am Ag Ch Del (2)_. Am Bank Note _ Am Brk Shoe (1) Am Can (14) Am Can pf (7). Am Car & F‘nundry. Am Car & Fdry pf_. Am Chicle (13) ___. Am Coal Alleg (a3). Am Comcl Aleohol .. 2 Am Crystal Sugar__ Am Cryst S pf (a3). AmCrys S 1stpf 6. Am Encaustie (d)_. % Am European See__ Am & Foreign Pwr._ Am & For Pw $6 pf. Am & For Pw 37 pf_ Am & For Pw 2d pf. Am Hawalian §8(1) Am Hide & L pf Am Home Pr (2.40). AmIce ___. = 2 Am International._. Am Locomotive Am Locomotive pf_. Am Mch & Fy (80c) Am Mch & Metals __ Am Mch & Met vtc Am Metal i Am News (13%5) ___ % Am Power & Light_ “AmPw & Lt $5 pf__ AmPw& Lt $6pf _ : Am Radiator - : Am Radiator pf(7)_ Am Rolling Mills Am Shipblag (2).._. Am Smelt & Ref Am Stl Fdry pf (2)_ Am Sugar (2)___ Am Sug pf (T) Am ‘Tobacco (5) Am Tobacco B (5) Am Tvpe F pf (d)__ Am Water Work: Am Woolen __ » Am Woolen pf Am Writ Pap pf (d) Am Zinc & Lead Anaconda Copper. Anaconda Wire ___. : Anchor Cap (60c) __ Anchor Cap pf(6%) Archer Dan M (+1) Archer Dan pf (7) _. Armour of Tllinois Armour(T11)pr pf 6 Armstrong Cork 50c Arnold Constable. : Asso Dry Goods s Asso DG 1st pf($9). Asso DG 2d pf = Atch To&S Fe (a2)_ Atch To&S F pf(5) 2 Atlantic Coast Line Atl Gulf&W Ind _. 6 Atl Gulf&W Ind pf_ 21% Atlantic Ref (1) 2 32% Atlas Powder (2) 106% Atlas Pwr pf (6) 6% 26% 15 17% 1 112 11% 59% 100 26% 49% T 14 221 1% 20% 60 42% 1% 4% 22% 165 13% 11 69% 106% 55l 35% 4% 18% 35% 2815 15 Auburn Auto _ 512 Austin Nichol; 23 Aviation Corp(De 13 Baldwin Loco (d).. 7% Baldwin Loco pf (d) T'2 Baltimore & Ohio__. 9% Baltimore & Oh pf._. 100% Bamberger pf (615) 3614 Bang & Aroos (234). 31 Barker Brothers._ . _ 32 Barker Brothers pf_ 57 Barnsdall Corp 37': Bayuk Cigar (150c) 14' Beatrice Cre (a50c). 72 Beech-Nut P (13) _ 11% Belding-Hem (a50¢) 117 Rendix Aviation 154 Beneficial Lo (1%)_ 34 Best&Co(2) _____ 215 Bethlehem Steel . 55% Beth Steel pf(al%) 14% Bigelow-San Corp - 95: Blaw-Knox 16% Bloomingdale (40c) 103% Bloomingdale pf(7) 61« Boeing Airplane 395 Bohn Alum &Br (3) 90 Bon Ami (A) (+4)__ 21 Borden Co (1.60).__ 28Y% Borg Warner (1%)._ 3% Boston & Maine __ 813 Bridgep't Brass 40c 2415 Briggs Mfz (2) 30% Bristol-Myers (+2)_ 361, Bklyn-Man Tr (3) __ M 43 Bklyn Union Gas(5) 53 Brown Shoe (3) 3% Brunswick-Bal 4% Bucyrus Erie 8's Bucyrus Erie cv pf.. 3% Budd(E G)Mfg 23 Budd(EG)Mfg pf_ 21; Budd Wheel 8% Bullard Co 3% Bulova Watch 13% Burr Add Mch(60¢). 1 Bush Terminal (d).- 5% Bush Term deb (d)- 10 Bush Term B pf cod 1% Butte Copper&Zinc. % Butterick Co (d)-.. 11% Byers (A M) . 32 Byers (A M) pf. 30% Caltfornia Pkg(1%) 1 Callahan Zine __ 2% Calumet & Hecla - 715 Campbell-Wy ad0c. 8% Can Dry G A (40¢).. 9% Canadian Pacific_... 4% Capital Admin (A)- 45% Case (J I) Co 831 Case (J I) pf (4)_. 36% Caterpillar Tr (11). 19% Celanese Corp. ... 17 Celotex Co (d) 11% Celotex Co pf (d) 34 CentralRRofNJ. 6% Century Rib Mills__ 38% Cerro de Pasco (4). 3% Certain-teed Prod._. 23 Certain-teed Pr pf.. 37% Ches & Ohio (2.80)_ 36 Chesapeake Corp(8) % Chi & Grt West (d)- 15% Chi Mail Order (t1) % Chi Mil StP&P (d). % Chi M StP&P pf (d) M Chi& N W (d) 3% Chi & N W pf (d)--. 45 Chi Pneumatic Tool 20 Chi Pneu Tool pt. % Chi R I&Pac (d) 1% Chi R I&P 6% Df(ll) 3% Childs Co e 31 Chrysler Corp (f1)- 16 City Ice & Fuel (2). 87 City Ice&F pf(6%)- 3% City Stores - 12% Clark Equip (80c).. 27% Clev Graph Br (+1). 20 Cluett Peabody (1) 126 112% Cluett Peab pf (7). 2301; 161% Coca-Cola (8) 18% 257 101% 5% 83 T6% 81 94 50% 116% 68% 15% Colgate-P-P (50¢) .. 9 Collins & Afkman _ 69% Collins & Atk pf (7) % Colo Fuel & Ir (d).. 3% Col Gas & Elec __. 35% Col G & E pt A (6)-. 3415 Colum Pio vte (1) 67 Colum Carbon (4).. 39% Comel Credit (2)___ 112 Comel Cred pf(5%). 56% Comecl Inv Tr (12).. 99% 98% Com I'T cv pf(4%)... 115»5 111 Comel I T ev pt (6). 1" 53% 3% 49 56 175% Comel Solv (t60¢) ... % Comw & Southern._. 29% Comw & Sou pt (3). 27 Congoleum-N(1. Cfl) 23% Conn Ry&Lt (41). 41 Conmn R&L bt (43%). 7 Cansol Cigar 71 ConC pr pf ww 6. 3% Consol Film 14% Cons Film pf(31%) 15% Consol Gas N Y (1). 2% Consol Gas pf (5)._ 1% Consol Laundries__. 635 Consol Ol » e 108 43% 43% @ ) > EIR I TN IO P NP 12 BBl Py - 00 60 00 O N i et b 0 - o w2 340s 4 9 12 1(7) lfll 114 4 21% 108 122 2227 227 227 111 30 11% 11% TV 145% 15% 21 122 THE EVENING STAR, WASHINGTON, D. C., FRIDAY, AUGUST 2, 1935. 43% +1 Iei++1 RS AN 109% +11 47 5% + % 51 —~1 8 — 1 431 + 3 122 —1% -2 40 17% 17% 17% + % 90s 9 39 178 26 6 !% 81 84 26% 25 100 l% 26% +1% 00 18 99% 2 112% 112% 112% + % 19% STOCK AVERAGES 30 15 Indust. Rails. Nel change.. —5 —3 Today's close 63.7 250 Previous day 64.0 253 Month ago.. 61.4 23.7 Year ago 485 252 1935 high .. 645 276 1935 low .. 49.5 1934 high .. 614 1934 low ... 45.3 1932 low ... 175 1929 high ..146.9 1927 low ... 51.6 15 Util. +2 348 346 331 28.3 35.0 21.6 40.6 242 239 1843 61.8 60 Stocks. —2 468 470 449 3716 413 348 514 349 16.9 1577 618 Compiled by the Assoclated Press. Prev. 1935 Stock and High. Low. Dividend Rate. 112 108!; Consol Oil pf (8)__ 5 2's Consol RR Cuba pf. 1% 1 Consol Textile 13% 8% Container Corp (A). 5% 2% Container Corp (B). T% 4% Contl Baking (A) ... 14 % Contl Baking (B) 66% 46% Contl Baking pf ( 91 62% Contl Can (2.40) ___ 11% 7 Contl Dia F (a30c). 40% 2874 Contl Insur (11.20). 1% % Contl Motors._ 23 15% Contl O Del(a37%¢c) 55% 41% Corn Ex BK&TTr (3) 8% 62 Corn Prod Ref 43) 6% 4's Coty Ine 397 357 Cream of Wh (12) 36 231% Crown C&S (1) . . 47% 43'; Crown C&S pf(2.70) 313 Crown Zelleb'k vte. 14 Crucible Steel = : 471z Cructble Steel pf_ 1 CubaCo. ___ 5'x Cuban-Am Suga 40'; Cuban-Am Sug p. 40 Cudahy Pkg (2%3) 15 Curtis Publishing. 8913 Curtis Pub pf (7) 2 Curtiss Wright____. 614 Curtiss Wright (A) 16 Cutler Hammer____ Sales— 3 22% Deere & Co . 19 Deere&Co pf (47 23'; Delaware & Hudson 16 11 Del Lack & West__. 25 1': Den & R G W pf 1 + 1141; Devoe & R 1st pf(7) 10s 261: Diamond Mtch 1% 34% Diam Mat pt (11%) 34's Dome Mines (12) __. 6% Dominion Store: 17'; Douglas Aircraft 13': Dresser M(b1%)A _ 86% Du Pontde N(2.60). 1 126% Du Pont deb (6) ... 1 104 Duquesne Lt 1st(5) 30s 3%, Eastern Roll Mills_ = Eastman Kod (5).-.. 1 2 1 5 3 7 6 Elec Auto L pf (7). Electric Boat Elec & Mus Ind_. 1's ElecPw& Lt _ 2!; Elec Pw & Lt $6 pf_ 3 Elec Pw & Lt $7 pf_ c Stor Bat (21) ingineers Pub Sve. Tw ErieRR 81; Erie RR 1stpf . ureka Vac C (80c) ans Prod (al) . 4 Fairbanks Co pt 17 Fairbanks Morse - 8 71'; Fairbanks M pf i3% 20s 5% Fed Lt & Tr . _ 2 48 Fed Lt & Tr pl(G) 60s 3% Fed Motor T (al0c) 3 Fed Screw Works__ % Fed Water Svc (A)_ 1615 Fed'd D Strs (160c). 2813 Fid Ph F In (11.20). 16 Filene's (180c) _. 131 Firestone (40c) 841; Firestone pf (6) A__ 45% First Nat Strs (2%) 19 Florsheim (1) A 24 Follansbee Bros(d). 20% Food Machine (1) 97 Foster-Wheeler 603, Foster-Wheeler pf_ 19% Fourth Nat 1a1.10_. 8% Fox Film (A) . 30% Frank Sim pf $3% . 17% Freeport-Texas (1). 15 Fuller Co pr pf__. 4% FullerCo 2d pf_ IOA 12 46s 20s "~ Gabriel Co (A) . 512 Gen Am Investors _ 84% Gen Am I pf ww (6)_ 32% Gen Am Trans(1%) 11% Gen Asphalt — 7% Gen Baking (60c) 19 Gen Cable pf __ 50 Gen Cigar (14)_ 2013 Gen Electric (60c) 32% Gen Foods (1.80) _. % Gen Gas & El (A) 59% Gen Mills (3) . 4 116 Gen Mills pf (6) 26% Gen Motors (1) _ 107}; Gen Motors pf ( 17% Gen Print Ink(1.60 1's Gen Public Service.. 80 Gen Ry Sig pf (6) 3 Gen Reality & Util 16% Gen Refractorie: 14 Gen Stl Casting pf_. 12 Gillett Saf Raz (1) .. 70': Gillett Saf R pf (5). 2'y Gimbel Bros __ 18 Gimbel Bros pf_. 23% Glidden Co (11) 1'4 Gobel (Adolf) (d).. 14% Gold Dust (1.20) ... 7% Goodrich (BF)____ 40 Goodrich (BF) pf_. 15% Goodyear T&R..___ 70 Goodyear $7 pf (4)_ 20 Gotham Silk H pf-.. 1% Graham-Paige..... 5% Granby Consol. 2% Grand Union _ 14% Grand Un pf (1 18 Granite City St Q1) 26 Grant (W T) (1) 9% Grt Northern pf. 9% Grt North Ore (50c) 26% Grt West Sug (2.40) 119 Grt West Sug pf(7) 20% Greyhound Corp - 1 Guantanamo Sugar 19 .Guantanamo Sug pf 4 Gulf Mobile& N 6 Gulf Mobile & N pf_ 12 Gulf States Steel_ 48 -Gulf States Stl 1st. 32 140 54 2% 434 % 204 24 68 29% 21% Hackensack W(1%) 34 30 Hack WpfA (1%)- 7% 4 Hall W F Printing_. 113 6% Hamilton Watch __ 96 63 Hamilton Watch pf 108 101 Hanna (M A)pf(7). 23% 16 Harbison Walk (1). 12% 5% Hat Corp of Amer__ 109 81 HatCo pfww (6%) 162 142% Helme(G W)pf(7)_. 25% 11 Hercules Mot (60c). Pw (13) 5% Holland Furnace __ 6% Holland & Son (50c) 30% Houd-Hersh (2%) A 6% Houdaille-Hersh B_ 9% Houston Oil 1% Houston Ojl (new)_ 43 Howe Sound (3) . 2% Hudson & Manhat__ 6% Hudson & Man pf_... 6% Hudson Motor Car. % Hupp Motors 17% 9% Illinois Central..... 57% 40 [11 Cent lse lines(4). 20s 33 23% Indus Rayon (1.68). 44 96% 601 Ingersoll-Rand (3).x 1 85% 46% Inland Steel (2) 8 6% 4 Insur ShMd cfs 15c. 16% 8% Interboro R T (d)-— 7 4% Interlake lron. ... 2% Int Anlcnlmrll‘_)__ 7 149% Int Bus Mach (16)_. “: 3% Int Car’rs Ltd (20¢) 33 m Int Cement (1) __. 34% Int Harvester (60c). 1% Int Hydro Elec (A). 1% Int Merch Marine__. 22% Int Nick Can (60¢)... 1% Int Paper & Pw (A). 3% Int Paper & Pw (C). 4% Int Paper & Pw pf_. 53% 2% 3% 29% 3 1% 12 10% 5% Int Tel & Tel 14 8% Intersttae Dep Strs. ~ Add 00. High. 109% 3% % 10% 1143 7 145% 13% nu' 63 143 21% 24'% 110% 18% —1 20% -1 68 I+ 1+1++411 Id++1 1+ 44441 Y =~ % 105% 105% 23 23%+ % 11 1% - % 107% 107'/6 » 110'/1 lll% -1 159% 159% — 22 =3 PETROLEUM INSTITUTE 0% 51t 2% 2 27% 1% % 10% 27% 3 13% 10% 13% % W % % b % Prev. High. 66% 655 125% 117% Johns-Manv pf (7)- 13% 13% 14% 20% 2% 20% 1035 Stock and Low. Diidend Rate 49 Jewel Tea (3)_ 1 381% Johns-Many (a5 37 10s 50 Jones&Laugh7%pf. 1508 6% Kans City South pf_ 7% Kaufmann D S(80c) 15% Kayser (J)&Co(50¢c) % Kelly-Spring T (d)- 6 Kelly-S T 6% pf(d). 23% 21% 96 6 Kelsey-Hayes (A)-. 3% Kelsey-Hayes (B).. 12 Kelvinator (150c) 84 Kendall Co pf (16)._. 13% Kennecott C (60¢) - 10 Kim Clark (a12%c¢). 19% Kre % 22% Kroger G&B (1. 12 Laclede Gas St L. 19% Laclede Gas pf. 22% Lambert Co (3) 10% Leh Port Cement. 89% Leh Port C pf (3%). 1% Lehigh Valley Coal. 5% Lehigh Val Coal pf_ 5 Lehigh Valley R R 674 Lehman C (12.40) __ 07 Lehn & Fink (1%) .. 21% Lib-O-Ford G1(1.20) 21 Life Saver (1.60) . 93% Ligg & Myers (14)B 1643 Lily Tulip Cup(1%) 173 Link Belt (80c)_ 24 Liquid Carb (11) 44% 31% Loew’s Inc (2)_ 108t 102 Loew’s Inc pf (l‘&) 1% 1 Loftlnc __ 41% 33 Loose-Wiles (2)_. 130 121% Loose-Wiles pf (7). 24'% 18% Lorillard P (11.20). 140% 124 Lorillard P pf (1) __ 19%; 10% Louisv GREpfA 1%. 472 34 Louis&Nash(a2%). 23 12% Ludlum Steel 118% 193 34 347% 3215 334 40% 105% 1% 40 124% 24% 139% 11 19 41% 21% 7% McCrory Stores (d). 36-. Meclntyre Porcu (2) 5% McKesson & Rob___ 32 McKesson & Rob pf 8l McLellan Stores_ . _ 85' McLellan Stores pf. 18% Mack Truck (1).._. : Macy (R H)& Co(2) Mad'n Sq Gar al5e . Magma Copper (2) Manati Sug pf (d) . Mandel Bros____ Man Elev gtd (d) __ Man El md gtd (4)_. Manhat Shirt (60c). Marine Midld (40c). Market St Ry pr pf_ Marlin-Rockwell(2) Marsball Field & Co 4 Mathieson Alk(1%) May Dept Str (1.60) Maytag Co___ Maytag ww ($3% Maytag 1st pf (6) Melville Shoe (2% Mengel Co. Mengel Co pf. = Mesta Mach (1%) - Miami Copper_ Mid-Cont Pet(al5c) Midland Steel Prod. Midl'd Stl 1st pf(8) Minn Hon R pf (6) s Minn Moline Pw___, ~ Mission Corp__ 2'3 Mo Kans & Texas Mo Kans & Tex pf._. Mo Pacific (d) ____ Mo Pacific pt (4) Mohawk C M (a2ic) Monsanto Chem 11 Montgomery Ward.. Mother Lode Motor Products (). Motor Wheel (60c) - Mullins Mfg____ ullins Mfg pf ___ Munsingwear Inc__ Murray Corp______ Myer F E &Co(1.60) 10 3 874 38 6 13 3 13 4% 30 91 603 11 Nash Motors (1) ___ 14 NashvChat&StL_. 4'; Nat Acme Co . 2's Nat Biscuit (1.60).. 131 Nat Cash Rg A(50c) 29 127 Nat Dairy Pr (1.20). 36 103 NatDairy pfA(7)- 1 1% Nat Dept Stores (d) 3 17 Nat Dept Strs pf(d) 190s 23' Nat Distillers (2).. 30 21 Nat En & Stpg (2) .. 1 47 Nat Pw & Lt (80c). x 107 40% Nat Steel (11)_ 27 36 Nat Supply Copf... 30s 8'4 Nat Tea (60c) - 5 T tomas Co (80c) . 21'% Neisner Bros (1) __ 43'; Newberry J J(1.60) 4% Newport Industries 181 N Y Airbrake _____ 124 NYCentral RR 6 N Y Chicago & St 9xNYChi&StLpt 2% N Y N H & Hartford 6 Y N H & Hartf pf 2% N Y Ontario & West ix N Y Railways pf___ 6's N Y Shipbuilding. 69 N Y Steam pf (6) 79 N Y Steam 1st (7). 30% Noranda Mines (2). 2 North Am Aviation 9 North Am Co (1)___ 35's North Am Co pf (3) 57 North Am Ed pf (6) 13' Northern Pacific 3 65 3 10 9% Ohio Oil (a15¢) .. .. 1 Oliver Farm Equip_ 13% Oliver FEprpf A_. 3! Omnibus Corp - 4% Oppenheim Collins_ 11'x Otis Elevator (60c) 4l Otis Steel _____ 22% Otis Steel pr pf. 80 Owens-Ill Gl 1433 Pac-Amer Fisheries 13% Pacific G& E (1%). 19 Pacific Ltg (2.40)__. 12 Pacific Mills. 70 Pacific Tel & Tel (6) 3'3 Packard Motors____ 2% Par-Publie cod (d). 2% Park Utah __ 1, Pathe Exchange._... 8 Pathe Exch (A)—_. 15 8% Patino Mines 81 64% Penick & For 80% 57% PenneyJ C (2) 110 103% Penney J C pf ( 4 2% Penn Coal & Col 5% 3 Penn Dixie Cement. 27% 18 Penn DixieCpfA__ 27% 17% Penn RR (1) __. 43% 17% Peoples Gas Chi_ 241 13 Pere Marquette pf. 32 16% Pere Marq pr pf._. % Petrol Corp___ 12% Phelps Dodn(lue) 23 Phila Co 6% pf (3)_ 381; Phila Co pf (6) new. 1% Phila & Read C&1... 35% Philip Morris (1)_.. 53 Phillips-J C pf (7). 13% Phillips Petrol (1).. % Pierce Oil . 2% Pierce Oil pf_ 26% Pitts Coal pf_ 5% Pitts Screw & Bolt.. 22'% Pitts Steel pf bl 1% 6% Pitts & W Va. 6% Plymouth Oil 6% Poor & Co (B) .____. 4% Postal Tel&C pf (d) 6% Pressed Sti C pf (d) 42% Proc & Gambl (13;) 20% Pub Sve NJ (2.40).. 62% Pub Sve N J pf (5).. 73 PubSve NJpf (6).. 85% Pub Sve N J pf (7). 34 Pullman Ine (3)... 5% Pure Oil 34% Pure Oil1 6% pfoce_ 49% Pure Ol 8% pf. 8% Purity Bakeries 4 Radio Corporation.. 50 RadioC'PpfA (3%) 85% Radio Corppf B___. 1% Radio-Keith-Or (d) 16% Raybestos-Man (1). 7 Remington-Rand._. 71% Remington-R 1st pf 2% Reo Motor Car. 9 Republic Steel ... 28% Republie Steel pf__. NAMES TWO TO BOARD By the Associated Press. dent of the Texas Co, and T. P. Thompson, jr., president of the Penn- sylvania Grade Crude Oil Association 65 61% 124 70 Net. Low. Close. Chge. Elgh 65 —1% 622 + W 124 =~ % 0 -2 %~ % 14 19% + % 1% 20% 20% 17% -5 - % + % + % e ks 144414+ B3 e 000 (XA EE J (BEE LN 1441 144+ 14+ MU% — % 3% 16% — % 65% +1% were yesterday elected directors of the a year ago. t Stock and . _ Dividend Rate. 28 Republic St pf cod. 51 Revere Copper_____ 17% Reynolds Metals (1) 12% Reynolds Sp (t40c). 434 Reynolds Tob B (3) 29% Royal D al.70 1-10¢, _—— 46 36% Safeway Stores (3) Prev. 1038 Lo 1134% 104% Safeway Strs pf (8) 120s 110 114% 110 Safeway Strs pf (7) FINANCIAL, Bales— Add 00. Bllh. 4 3 4 2 18 1 425 42% 15 39% 39 11¢ 408 112% 112 21% 21% 33%, 4 10% 19 513 23% 36% 6 1212 19% T 57 5 18% 313 12 1024 41 1064 100 9 50% 3 105, 1078 4% 67 613 273 691 504 6513 204 111 904y 2612 1T 6% 155 10% St Joseph Ld (40c). 12 St Southw'npf __ 22 Schenley Distiller: 1% S2hulte Retail Str: 8 Schulte Strs pf_ 55 Scott Paper (1.80)_. % Seaboard A L pf(d). 20% Seab’d O Del (160c) 31 Sears Roeb’k(a7bc) 40 Sec NatInvpf12y. 7% Servel Inc 9 Sharon Steel Hoop.. 3% Sharp & Dohme 7% Shattuck (F G) ( 5' Shell Union Oil_ 63'4 Shell Union Oil pf 8% Silver King C(40c). 6 SimmonsCo____ 5 Simms Pet (a50c)_ 64 Skelly Oil . 15% Snider Packing 11 Socony-Vae (60c) 107% Sol Am Inv pf(5%). 20 Sou Porto R Sug(2) 10% South Cal Ed (1%). 12% Southern Pacific _ 5% Southern Railway. 7 Southern Rwy pf._. 5 Spalding (A G)_ 42 Spalding(AG)ls 59' Spang Chalf pf (32 3% Sparks-Withington Spear & Co 32 Spencer Kell (1.60). 7% Sperry vtc (a2be) .. 33Y% Spicer Mfg pf (3)__ Ié'a Spiegel-May-Stern. Spieg<May-Srts___ 13% Stand Brands (1) _ 120% Stand Brands pf(7). 2'; Stand Com Tobacco. 1'; Stand Gas & Elec.. 33 1 1% Stand G & E §4 pf. 6 51y % 4% Stand G & E $6 pf. § 6 Stand G&E $7 pf__ 27% Stand Oil of Cal (1) 23 Stand Oil of Ind (1) 35% Stand OIIN J (11) . 12t; Starrett(LS) (a2ic) 58% Sterling Prod (3.80) 4 62 3 b . 1% Sterling Secur (A)-. 31 Sterling Secur pf___ 36 Sterling Secur cv pf 6% Stewart-Warner 2', Stone & Webste: 4 Studebaker Corp_ 175 1814 30% 20 15% 68Y% 105 56" 104 16% M Tin 105 97% 13 11% 5% 10 16% 13! c) 601s 8T 4% 4 35 115 119 18% 2% ‘“ll 1l‘l 3 19% 2% 11 Superheater (50c) 1% Superior Oil__ 5 Superior Steel 14% Swift & Co (150e) % Symington (d)._ 4 Tennessee Corp. 16'; Texas Corp (1)-. 28% Texas Gulf Sul (2). 3l Tex Pac Coal & Oil 815 Tex Pac Land Trust 13' Thatcher M (a50c) - 5% The Fair__ - 2'3 Thermoid Co 2 Third Avenue._ 13% Thompson Products 1% Thompson Starrett. T% Tide Wat Asso Oil 84 Tide Wat A O pf(6) 26% Tide Wat O (abic) Tide Wat Oil pt (5) 4% Timken-Detroit ___ 28% Timken R B (11) _. 4% Transamerica(30c). T4 Trans & Westn Air_ 5'a Transue&Williams_ 1% Tri-Contl Corp 4% Truax-Tra Coal. 313 Truscon Ste 18 Twin City RT pf_ 116 3100 100 20s 38 374 1106 106‘ 53% Und-Ell-Fisher (2) 29 Union Bag&Pap (2) 44 UnCarb&C (1.60)- 14% Un Oil of Cal (i 8215 Un Pacific (6) 79% Un Pacific pt (4)__. 20% Un Tank Car (1.20) 9% United Aircraft____ 4!z United Air Line vte 7 United Am Bosch__ 20% United Bisc (1.60) 46 United Carbon 2.40_ 4 United Corp__ United Corp pf (3)_. United Drug__ 2 United Dyewood United Dyew pf (7) 4« United Elec Coal.. » United Fruit (3) 9% United Gas Imp U S Distributing pf. 4!3 U S & For'n Secur. 11 U S Freight (1) 40% U S Gypsum (1) 5 US Hoffman.___ 35% U S Ind Alcohol (2). 713 U S Leather A vte_. 14% U S Pipe & F (50¢c). 3 .US Realty & Imp. 913 U S Rubber 2413 U S Rubber 95 USSmelt&R (aé 62% USSm & R pf (3%) 27% U S Steel___ 73% U S Steel pt 3’3 United Stores (A 12 106% 105 87 FEIFESES 46 United Stores pf___. . 152 40%, 35 51 Univ Leaf Tob (12). 133% Unmiv Leaf T pf (8) . 30 Univ Pic 1st pfd . 1 Univ Pipe & Rad_ 1 UtilPw&Lt(A) . — 21% 24'y 11% Vanadium Corp. 11'¢ Van Raalte__ 34 Vick Chem (t2 2'; Va-Car Chemica! 1713 Va-Car Chem 6% pf 72': Va El & Pw pt (6)_ 1 Wabash (d)___ 1% Wabash pt A (d) 26 Walgreen Co (1.4 1% Walworth Co__ 2% Warner Bros Pic___ 14}: Warner Bros Pic pf 2 2! Warren Bros _____. 7% Warren Bros cv pf_. 21 Warren Fdy&P (2)_ 4 Webster Eisenlohr_ 30% Wesson O&S (150c) 72 Wesson O&S pf (4). 34 West Pa Elec (T)A_ 36 West Pa Elec pf (6) 39% West Pa Elec pt (7) 95 West Pa Pwr pf (6) 10415 West Pa Pwr pf (7) 5% Western Maryland. 23 Western Pacific pf-. 20% Western Union____. West'gh'se A B Westinghse El a50c. Weston Elec Inst__. Weston Elec (2) A_. % Westvaco Chi 40c) Wheeling Steel Wheeling Stl pf($1) White Motor White Rk M S(1.40) White Sewing Mch_ 6 White Sew Mch pf_. Wilcox Oil & Gas._. 20 102 2;}'4 308 102 10s 113% 113% 80s 120 119% 9 8% 8 3% 3% 440 42% 2 25% 621 17% 351 20% 23 83 11 Woolworth (2.40)_ 11% Worthington Pump. 35% Wright Aero_ 78% Wrigley W jr (13 —_— 3% o 17% Yale & Towne (60c) 2% Yellow Truck.. 311 Yellow Truck pf___. 16 18 .Young Sp& W (11). 13 YoungstownS&T.. 381; Youngst'wn S&T pf. 1% Zenith Radio & 2% Zonite Product: 3% 3w Approximate Sales of Stocks on the N, Y. Stock Exchange, « 750,000 . 1150,000 00 dend_rates as given I the above table are the enmusl Divi iven cash payments based on the latest quarterly or declaration: 5. s Unit cl 'nm E:unu MILLINERY STORES ALERT. NEW YORK, August 2 (P).—Retail- ers’ interest in the new millinery styles is said to be keen and the volume of early orders for showing with August coat and sult sales compares well with less than 100 shares. ¢ Annual ral iad dividengs. o Paid, thits year. b Shua d Dol es n being American Petroleum Institute to fill| FOOD PRICES INCREASE. NEW YORK, August 2 (#).—Average retail food prices are 3 to 7 per cent higher than a year ago, according to the American Institute otroodDin- tribution. —————— Walworth Co.—Deficit for six months ended June 30, was $219,550 before Federal taxes, vs. net income of $134,758. STOCKS END DAY WITH HEAVY TONE Profit Taking Undermines Rise Led by Utilities and Specialties. WHAT STOCKS DID. Advances Declines Unchanged Total issues ... 800 863 BY VICTOR EUBANK, Associated Press Financial Writer. NEW YORK, August 2—The utili- ties and scattered specialties did their best, to support the stock market today, but profit-taking waves undermined the list as a whole and the closing tone was rather heavy. The trading pace was not so fast as yesterday, however, transfers approximating 1,450,000 shares. Power company issues moved ahead briskly at the start in the wake of Washington developments .interpreted as favorable. These, however, relin- quished considerable of their advance when other leaders were offered at lower prices. ‘The rails picked up at one time, although they too slipped as realizing beeame more pronounced. The board- rooms saw little in the news to shake the market unduly and observers were disposed to attribute the reaction to the usual technical factors. Freight car loadings for the last week, made public today, revealed a | slightly smaller than seasonal in- | crease. Wheat at Chicago dropped { more than 2 cents a bushel as crop + % | estimates appeared a little confusing. Cotton also lagged. Bonds were mixed. Foreign exchanges were quiet, | with some of the gold currencies edging a trifle higher. | Shares steady to around 8 point ¢ | improved inciuded Consolidated Gas, American Telephone, Western Union, North - American, Public Service of New Jerssy, Columbian Carbon, American Can, Eastman Kodak, Cela- nese, Industrial Rayon, Grevhound Corp., Manhattan Modified and Inter- borougn Rapid Transit. Republic Steel preferred got up more than 2 when Attorney General Cummings announced he would not appeal the recent adverse decision rejecting the Government's anti-trust suit. Among losers of fractions to around 2 were Santa Fe, Northern Pacific, Chrysler, General Motors, Inland Steel, United States Steel, Bethlehem, United States Smelting, Eastman Ko- dak, Westinghouse. International Har- vester, Case and Johns-Manville. Chicago Grain By the Associated Press. CHICAGO, August 2.—Heavy sell- ing dominated the Chicago whea market much of the time today anc prices suffered sharp breaks, espe- cially in the late dealings. Some of the selling was attribute to assertions that private crop esti- mates today had proved to be les: bullish than were indicated by sensa- tional damage reports the past two weeks. Uncertainties regarding trade developments during holidays tomor- row and Monday at Liverpool and Winnipeg served also as & disturbing | factor. ‘Wheat closed nervous, 133a2% under yesterday's finish, September, 90'2a 5 corn, off to 1's up, September, 783a7%; oats, %aY, down, and pro- visions unchanged to 15 cents decline. WHEAT— Oven. High. Low. Close Bt. - 93 @41, 80 800,.5 043, a6 Chicago Cash Market. Cash wheat—No. 2 red, 933,a941%; | No. 2 hard, 1.04a4'.; No. 4 hard, 927 a3 ; No. 3 yeliow hnrd tough, 97%; No. 2 red tough, 91a92; No. 3 red garlicky, 85',a87'4; No. 3 hard, 97a 97'; No. 2 mixed, 92%; 80 per cent soft. Corn, No. 2 yellow, 85a86; No. 2 white, 88!5: oats, No. 4 white tough. 28!2; No. 2 white, 35!2a34; no rye; nc buckwheat: no soybeans:; barley, nom- inal, feed, 34a35, malting, 42a53; tim- othy seed, per cwt., 3.25; clover seed, per cwt., 12.00a17.00. Liverpool Grain Prices. LIVERPOOL. August ). —Wheat futures closed steady. rev. Hw’h Lot clov c!uw - 79 Rig Sig October December March Exchnnxc B 8% 2 7% et will be closed tomorrow .nd Monda: Augdst 5° s’ s ook Ren Baltimore Quotations. . August 2 (#.—(Close), Ted Winter. lnhcky spot, o. domestic. 8072; August, 80% MONEY MARKET. NEW YORK. August 2 (#).—Call meney steady: 's per cent all day. Time loans steady: 60-90 days. Y offered: 4-6 months. Ys offered. Prime commercial paper. 3, per cent. Bankers acceptances unchanged, Rediscount rate, New York Reserve Bank, 1% per cent. e METAL MARKET. NEW YORK. August 2 ().—Ce quiet: electrolytic. ‘spot and futire. & oor #587.90. Tin steady: 8%, and y. 52.5 future. 51.2 i uiet, unchanged. Lead firmer: ork. 4.20a4.25; East &t. Louis. 4n5. Zine mm Ease St Louis spot and Tul ture, 4.50, iminum 19.00; 0 Anti- PROTECT your DRIVING RIGHTS by Automobile Insurance that complies with new Financial Responsibility Act. COMPYANY Realtors—Insurance Brokers 721 10th St. N.W. National .1 PUBLIC LIABILITY Property Damage, Fire, Theft and Al Other Automobile Insurance WM. H. SAUNDERS CO. 1519 K N.W. REAL ESTATE LOANS ON IMPROVED PROPERTY Mutual Building Assn. 306 7th St. S.W. Organized Since 1892