Evening Star Newspaper, August 6, 1935, Page 16

‘D. C., TUESDAY, AUGUST 6, 1935. BUILDING FORGES AHEAD IN SOUTH Private Contracts Increase Further Despite Lag ‘in Public Works. By the Associated Pr BALTIMORE, August 6.—Indus- trial, engineering and private building operations in the South registered substantial gains during July, says the monthly review of the Manufacturers’ | Record. Due to a sharp decline in public FINANCIAL. SYNDICATE OFFERS NEW CUDAHY ISSUE $20,000,000 First Mortgage Bonds Put on Market With Debentures. By the Associated Press. CHICAGO, August 6.—A barnking syndicate today placed on sale $25.- 000,600 in new Cudahy Packing Co. securities, FINANCIAL THE EVENING STAR, WASHINGTON, NEW YORK CURB MARKET QUOTATIONS Dfll‘:c‘d.;‘ Sales— vidend te. Add 00. Close Ploneer Goid Mines 00 e Tow: 10 10 6 Ltd (80¢) .. 3 104 Pitney Bo P (20c) 3 64 6% Pitts & L E (23,).1158 67l 674 Pitts Plate G(t2). 3 78 8 Premier Gold(12¢) 11 1% 1% Prod Royal(2%c). 6 n Y Properties Realty 1% 175 8% 8% A—16 ¥ CURB LIST TAKES UNEVEN COURSE Some Metal and Specialty | Issues Able to Close With Firm Tone. B the Associated Press NEW YORK, August 6—=Mixed price trends prevailed at the close of today's curb market Profit taking was in evidence among & number of the recent gainers. Some of the mines and various spe- cialties, however, managed to finish with a firm undertone. Penney Co. Earns $2.17 on Common Durigl\lg Half Year By the Associated Press. NEW YORK, August 6.—J. C. Pen- ney Co., for six months ended June 30, 1935, reports net profit of $5,- 669,684, equal to $2.17 a common share after deduction for preferred dividend requirements, compared with $6,698,436, equal to $2.59 a share, for the same period of 1934. WHOLESALE INDEX | : MOUNTS lN WEEKI An issue of 3% per cent, first mort- | totaling $20,000,000, and another ot 4 per cent sinking fund debentures, convertible and due in 1950, com- Stock and Dividend Rate. Add 00. High. Low. Close. Insurance Co of North Am (2).. 5 68% 6814 687 Intl Hvdro Elec System cv pf__. 4258 Intl Mining(a30¢) 13 Intl Mining war__. 2 Intl Petr (11%)_—. 7 Intl Products. Intl Util (A) Intl Util (B) . "nterstate Power (Del) pf__.__._ 80s 19% Irving Air C (40¢) 12 13% Ital Syperpwr(A). 8 1 sersey Central P&L pf (6) ... 10s Jersey Central P&Lpf (7). .. 20s Jones&Laugh Stl. 758 2 Kingsbury Br (d) 1 Kirby Petr (a10c) 1 Kirkland Lake Gl 1 Koppers Gas & Coke pf (6) 100s H' Kreuger(G)srew. 3 Stock and Sales— Dividend Rate. Add 00. High. Corroon &RpfA 1 40 Cosden Oil Me (d). 1 Crane & Co Creole Petroleum. Crocker Wheeler. Croft Brewing. Crown Cork Int'l ($25¢). Cusi-Mexicana M. Derby Oil & Ref__ Det Gray Iron & Foundry (b10c) Dictograph Prod . Distillers C-Seagr Doehler Die Cast.. Domin 8 & C (B) Driver Har(a25c). Duke Power (3) .. 25s Duval Tex Suiph. 18 Eagle Pitcher Ltd 2 Eastn G&F Asso_. 9 Eastn States Pw 7 Eastn Sta Pw (A) 150s Eastn Sta Pw (B) 150s [Easy Washing By private wire direct to The Star. ) iy 40 40 3% N 16'2 16% 1T% 17T% 8% 8% W E 1 1% 1% Stock and Sales— Dividend Rate. Add 00. High. Aero Supply (B). . 3 24 AirInvestorsIne. 1 14 Ala Grt So (b2) _ 258 Allied Mills(a25c) 18 Alum’n Co of Am 300s Alum'n pf (1%) .- 50s Am Beverage .. "1 Am Brit & Contl 1 Am Capital (B) _. 14 Am Ct P&L A (3) T58 Am Cities PRLB_ 13 Am Cynam(40c)B 13 Am&For Pw war. 6 31g Am Founders. .. 2 L) Am Gas&E (1.40) 23 34 33 334 Am G&E of (6) 800s 10"». 106% lObflu Am Laundry (40¢) 1508 16% 16% Am Lt&Tr (1.20) - 5! 13% 13% Am Maracaibo___ Am Meter Co ,n; 169 1 % e 167 17 8 % Low. Close. 2% 2% 1% 1% 10 10% £ 34% 3% 2% % 654 T 1% W 12% 10% 11 11 3% 345 3% 2% % 19% 13% 1%, 3% 11 1% 1% 8% 475 228, 20% % 18'a 564 9y 11 1% 1% vie (a1.45)___"_100s 17% Prudential Invest 1 8% Puget Sound Pw & 334 35% 15 134% | 5% W | 6% ™ 4% 21% 20% 4% 181 56% 9% 814 4% 224 4% Pulu Sound Pw & 0% Bt 9258 15% Qulker Oats (14).1408134 Rwy&Lt Secur__. 50s 15% Reiter-Foster 3 Reliable Stores___ 1 64 Reybarn Co 0 3% Richfield Ofl (Cal) prior (d) 1 Root Petrolmeum. 1 Safety C H&L (3). 50s St Anthony Gold 1 St Regis Paper . _ 13% 134% 3 13 14‘ % % 2% 79 % 213 Am Superpower_ Am Super 1st pf_. Am Superpw pf Anglo-Persian Oil Fertilizer Association Estimates HOLDERS ARE ASKED TO FIGHT TAX BOOST Chief of Indiana Standard Oil Points to Big Share Already Taken by Government. By the Associated Press. CHICAGO. August Oil Co. of Indiana’s 92,000 stock-| holders were asked today by President Edward G. Seubert to request Con- | gress not to assess any admuonal‘ taxes against the company on the| basis of its size. In a letter to the Seubert said that in 1934 the com- pany paid a total of $4.88 per share in all taxes, leaving $1.25 per share | to the stockholder 6.—Standard | stockholders, | Ltd (h28%c) Angostura (20¢). Appalachan Eiec Pwr pf (7) Ark Nat Gas. Ark NatGas A___ Ark Nat Gas cu pt Art Met W (40¢) . Asso E I (p213sc). AsSOG & E AssoG& E (A). Asso G&E $5 pf Att Coast Fisher Atlas Corp Atlas Corp war Atlas Cor pf A (3) d Babcock&W (40c) | Baldw L bd rts(d) Bellanca Aireraft. Bliss Co (E W) Blue Ridge Corp - | Blue Ridge pf (3). Bower Roll B (1) Brazil Tr L&P . Bridgeport Mach. Brill Corp A i E]ec Sharehold’'g- Elec Sharehld'g Mach B (a25c). 6 Eisler Elec Corp 1 KElec Bond&Shar Elec Bd&Sh pf (5) 2 Elec BA&Sh pf () El Pwr Assoc (A). Elec Pw & Lt 385 20 14 opt war_ Elec PWw&Lt 2d pfA . gasans 3 pf ws (3133)_100s Emp G&F 7% pf..100s Equity Corp Eureka Pipe L(4) 100s European Elec 53 Ltd (A)(60¢c) - European Elec Ltd bd rts Ex-Cell-O A&Tool Fairchild Aviat'n Fajardo S (allz). 2 Falstaff Brewery . Fanny F C (50c) . 1 Ferro Enam (60¢) 17 Fidelio Brewery__ 1 Fisk Rubber _ 8 50s Lake Shore M(12) 1 Lakey Fy & Mch_. 19 Lehigh C&N(s0e). 10 Leonard Ofl._____ 1 Lerner Stores (2). 6 Libby McNeill&L. 3 Lone Star Gas30c 6 Long Island Light 45 Long Island Light PrA(T) . 10s Long Island Light PfB(6) __ 508 Louisiana L&Ex_. 16 Lynch Corp (2)... 2 McCord Rad (B) 2 McWill Dredg (12)250s Maryl'd Casualty. 10 Mead John (13) _. 1 Mem Nat G(al0c) Merritt Chap & S_ Middle States Petrol vic A___. Middle States Petrol vic B __. .| Middle W Ut (d)_. Mid West Util nv pf A (d) Midvale Co (b1) Mohawk Hudson 508 30 T St Regis Paper p! Salt Creek P(80c) Schiff The Co (2). Scovill Mfg (1) . Segal Lock & H Seiberling Rubber Selected Indus__ Selec Industries allot ctfs (335) 200s Selec Ind pr (3% ) 500s Seton Leather 5 Shattuck Den Min 1 Sheaffer Pen (al). 1 Shenandoah ____ 9 Sher-Wilms (4) _ 1101% 10| | Shewin-W pf(6) Singer Mfg (16) Singer Mfg Ltd rets (a232se) . Smith (A O) Sonotone Corp . South Am Gold & Plat (40c) _. 6 Sou Penn O (1.20) 1 Sq Deal pf A 2.20_. 508 Square Deal (B). 200s | Stand Inv cu pt | Stand Oil Ky (t1) Stand Ofl Nebr. 2008 66% 52 2% GIAU building and highway construction, however, the total of contracts award- ed for all projects in the month fell approximately $5,000,000 below the figures for the preceding month. ‘The July aggregate was reported as $40,274,000 in the 16 States covered by the review, as compared with $45,- 503,000 in June. The industrial and engineering | awards in July increased nearly $8,- 000,000 over the previous month, while | a high level was maintained in con- struction activities financed by pri- | vate investors. ‘The review cited “delay in starting Federal Government projects” as the » | principal reason for the cecline in this class of building. During th first seven months of 1935 contracts on Federal aid projects were $39,000,000 less than for the corresponding period of 1934. The seven-month total of industrial | awards exceeded the 1934 figures by more than $14,000,000, while private Average at 78.4, Against 77.88 Week Ago. There was a general advance in wholesale commodity prices in the week ended August 3, according to the index of the National Fertilizer Association. This index advanced to | 78.4 per cent of the 1926-1928 average, ‘compnred with 77.8 in the week pre- ceding. A month ago the index was 77.5 and a year ago 73.1. The index ! last week stood at the same level as had been reached in the week of May 25, the highest point attained during the recovery period. The increase in price last week was general, with eight of the component groups rising and a slight decline oc- | curring in another group. The most important advance occurred in the foods index, which rose to the high- prised the total sum. Both issues were offered at 100. The company will use the proceeds, | netting $24,294,000, to redeem its first | mortgage 5 per cent bonds due in 1946, and 5'% per cent debentures due October 1, 1936, the balance to be used to reduce notes psyuble to banks, NEW YORK BANK STOCKS W YORK. Augqust 6 (P —New Yprk Security Dealers” Association (Quotations as of 2 o'clock.) B Comme Cont Bk Cor: F Guaranty Tr ( Fisk Rub pf (6)__ Flintkote (1) A_.. 12 Fla P&L pt -- 300s Ford Mot (Can) (%) A Ford Mot Ltd (a17.7¢) Froedtert Gr & conv pf (1.20)..100s Gen Alloys_ . - Gen Fireproofing_ Gen Invest Corp Gen Tire & Rub __ Georgia Pw pf (5) 75 Georgia Pw pf(6) Glen Alden C (+1) Glohe Under (50c) Gold Seal Elec _ Goldfield Consol __ Gorham vte ext 35 3 (al) 1 Grand R Var (50c) 40 Gray T P S(asc) 200s Great Atl & Pac Tea n-v (16) __ Great Atl & Pac Tea 1st pf (7) Guardian Invest_. Gulf Oilaf Pa . Handley Paige pr pf (a2l 9-10¢) Harvard Brew __ Hazeltine Corp(1) Hecla Min (a10c) . | Heyden Chem(11) Hollinger G(t85¢c) Holly Sugar Hudson Bay Min & Sm(a50¢) | Humble Oil (1) ... | Huyler's of Del 7% pf st (4) Hydro Elec Sec Hygrade Syl (2 | 1l P&L 6% pt 11 Pw&Lt $6 pt 1 Imp Oil Ltd coupon (150¢) Imp Tob Grt Brit & Ire (aT1%s¢) - Indian Territory Hlum Oil (A)__. 1 Indian Territory Ium Oil (B) ... 1 2% Indus Fin 7% pf-. 50s 6 est point reached in the recovery Ivine Tr ! which began in early 1933. The rise N in the foods group was due largely to ' J ¥ 3 ]hxgher pork prices, although ¢heese, Tmr eggs, flour and apples also were hxgher | during the week. Stand Oil Ohio Stand Pw&Lt Stand Pw&LtB__ Stand Silver & L. Starrett Corp_ Starrett Corp pf. Stutz Motor _ Sullivan Machine 1 2% [ Sunray Oil_.____ 18' Sunshine M(1.20). 1 Swift Intl (2) .. ': | Swiss Oil (40¢) . 73% | Tampa Elec (2.24) 75 | Technicolor Inc 1015 | Teck Hughes(40c) 62 | Texas Gulf Prod 49 | Thermoid cu pt 50 | Todd Shipyard (2) Tri-Contl C war Tubize Chatillion. Tubize Chatil A__ Tung-Sol Lamp __ Tung-Sol L pf (3) Union Am Invest_ Union Gas (Can) Brown Forman #N&EPpt | construction gained about $22,000,000 But D in the same time. One of the largest enterprises re- ported for the Summer, concident with a genehral upturn in the steel industry, | was the starting of work on a cold-| Higher prices rolled strip mill by the Bethlehem | wheat wert largely responsible ‘}Er’i'fifi Steel Co. at Sparrows Point, Md. This| rise in the grains, feed and live stock was estimated to cost $5,000,000. | index. Of the 22 commodities included | | NEW YORK. | Similar expansion in the oil indus- | in this group, 11 advanced in price "% P%"% Ponds . try was noted, with plans under way | last week and 7 declined. A small Gusistions o8 of 3 weiaek) j for new refineries at Gulf ports and | rise in the textiles index was the result | }:3 Jan. 193¢ varlous pipe lines to transport the of minor advances in several textile | /3 Nov. 19 output of new fields. | items. e Street railway companies in many of the South’s smaller cities, the re- | view said, are putting millions of dol- | lars into the latest type motor busses and trackless trolleys and other pquip- | ment revolutionizing transportation. 1stpf (4) _ .. 4008 Mohawk H 2d pf. 125s Molybdenum - & Moody's Inv Sve PLYVL(3)__ ____ 25s 30 Mont Ward (7) A 350s 139 Mount Prod (60c) 10 5% Nat Bella Hess 24 Nat Fuel Gas (1) Nat Investors. Nat Invest war_, Nat Inv pf (34)_ Nat P&L pf (6) Nat Transit (80¢) _ NJ Zine (2) ... 4()0! Newm Min (a1) 7 N Y & Hond (11)_ 3508 N Y Shipbldg .___ INSURANCE STOCKS NEW YORK A P —New York Becurity Dealers Association Bid. Agked. & & “astp pf(5) 300s 9 Bunker Hill&Sul_ 200s Burma Ltd | (a47.7¢) - | Butler Bros Cables&Wire 1B) Can Indus Alco B Can Marconi Carib Syndicat Carrier Corp .- Catalin Corp | Celanese pf (7). Celanese 1st pf(7) | Cent Hudson G & E ctfs (80c) ent Power & Lt P (312)- Cent States Elec. | Cent States Elec cv pf (new) 100s | CentStEI6% pf_. 4 Central State; Elec 7% pf 401)3 Charis Corp (1 Chi Riv&M (1%3) - Chief Consol Chids Co pt Cities Service. Cities Service pf- Cities Service Pw&Lt $7pf __ City Auto St(60c) Clev Elec Illu (2)- Clev Tractor. Colon Oil Columbia Gas& Eleccv pf (5) Com'wlith&S war. Como Mines Compo Shoe Mach s.t.c.(50c) Cooper Bess pf A Consol Aircraft Cons Copper .. Consol Gas of Balto (3.60) Cons M&S(72%c¢) ContG&E pr pf(7) Cooper Bessemer Cord Corp.. Corroon & Reyn.. it ent-re Aetna Cas 1713a) = Aetna Fire (1.60) = Aetnn Life (10) e FEDERAL LAND BANKS NEW YORK. August 6 (P .—Pederal 1% 50 0 b 1073% 105% 104% FOREIGN MARKETS. By the Associated Press LONDON —A cheerful tone was re n the Stock Exchange today ble activity In industrials uenced by the strong America over the week end. Transatla and mining shares advanced. w | edged securities and rubbers held steady Brazilian bonds were dull on fears con cerning their debt service. but oil s yere firm on favorable American advices The market closed firn ARIS —Hesitancy 161 10 Pw (A) war____ Niag Sh Md B Nipissing(al2ize) North Am L&P . Nor Am L&P pt ! Nor Am Util Sec - Northn I-,urun 0il | Nor Ind Pub 55 ruinaasfoSiree S fomndSenans 608 RUBBER FUTURES. NEW YORK. August 6 (#.—Crude rub- ber futures opened quiet. a4 higher. Sep- 2 October, 1:.32b; De- U. S. TREASURY NOTES. 208126 (Reported by Chas. D. Barney & Co.) Unit Corp war Unit Dry Dock (d) Unit Founders | Unit Gas Corp Unit Gas Cor war. Unit Gas Corp pf. Unit Lt&Pw (A)_ Unit Lt&Pw B __ Unit Lt&Pw pf ___ » | Unit Milk Prod | Unit Molasses Ltd (a6sc) = Unit Shoe Mach (123%) U S Elec Pw ww __ U S Foil (6uc) B U S & Intl Secur - 2 latptwmite 1 467, U S Play C (1) 100s 63 62 U S Rub Reclaim_ 1 Pennroad Corp 13 2% Unit Stores vte Penn G&E (133)A 1 154, Unit Verde E 40c Penn Salt (13) 755104 Unit Wall Pap(n) Pepperell Mfg(6) 908 5% Univ Ins Phila Co (80¢).... 2 101 Utah Ewr & Lt Phoenix Secur 1 2% (31.16 Phoenix pf (3) __. 2 45% Ttica G&E nu §e Pie Bakeries(60c) 3 114 | Utilittes P&L____ 65% BRoenix 1213 Brov Wash (1) S8t. Paul Fire l".a‘ S')"l\i.‘»‘(* Lif Northn ) O Nurlhern States Power (A) Northwest Eng .. | Novadel Ag (2)- Pacific Eastern. PacificG& E 1stpf (1%2) Pac Light'g pf (6) Pacific Public Sve pf (3200) 2 16 Pac Tin spec (1) 100s 3 | Pan-Am Air (1) .. 3 Pantapec Ofl 16 Parke Davis (1) 9 Parker Rust (13) 250s “prevailed on the Bourse foday . pending. the. forthcoming governmental economy decree laws. Roval .. however. improved. leading other active’ international issues. Rentes {ractionally and the market closed irre lar BERLIN —Business on_the Boerse extremely ‘quiet today. prices f | fractionally. The closing was Stock and Sales— Divigend Rate. Add 00. High. Low. Close. Uulities P&L pf 1700815% 13% 15 Utility Equities_. 1 3% 3w 3% 1 anv Eqpf(3%) 758 691. 68 69 lity & Indus M. l_ulu\ &Induspf 4 3% Venezuela Petrol. 9 11, Waco Aircraft__ 1 5! Walker Miiram). 16 Walker (H)pf(1) W Va Coal&Coke Westn Air Expin) Western Auto Supply (3) A 50s Woodley Pet (40c) 3 Wright Harg t40e 32 Yukon Goid __ 11 Dividend rates tn dollars based on tre ags, | 1881 Quarterly or semi-annual payments 28% | tAnnual ratec—pius extra. tAccumulated 100 | dividends. aPaid this vesr bPaid iast 11, | Jear. dCompanies reported in receivar- | <hip or being reorsanized xE3 dividend 8 extras ) Declared or paid so far this year. DIVIDENDS ANNOUNCED dends _d ard Sta- 59 161, 3 601 255101 FOREIGN EXCHANGES. NEW YORK. August 6 # —Foreign ex- changes easy: Great < Britain in _dol at Britain, demand Bstea U. S. TREASURY POSITION. Gen Motors L L T 1500832 $riine CAir Chute__ Jivc Increased 14 19%, n Mot 30 Nick ing Air C air & 4.517s: Greece 0 uv, I Crechosiovekia. 4.15%: = 1 ¢ 181y 1 3% € fical year (since J 067.3%: expenditures, including $401,604,083.97 of emer, e:l;y:\pfl\fll!urfl excess of expenmr X . 75, 1014 2% 45 11 Accumulated. 2!, Hinde & Da Pa pf_$45 1258 10s 10 29 100 1% 100 1 201.00 unde 11 | sets Am Bus Sh Inc Am Factors - Beacon Man! Cl & Pi RR 7% &t Clev & P R R spl Corp Investors . Coe. r Gen Motors $5 Pf__ Gugge & Co lst pf <1 Harbison-Walk Refr Harbison-Wa Re pf. o000l ool pOLOOOX! rving 1 Landis Machine __ Mereely & Ltd 1st D! S1 Nashua Gum & Co P I Socony-Vacuum Ol - Brown Shoe CO_—. Lincoln Stores SHOR'NEERM SECURITIES. (Reported by Chas. D. Barney & Co.) offer. To | ooZo®0000 Atlantic Refining_5s Beihlehem Steel 55 19 California Packini Canadian Nor. Ry SAT-IS-FY. Something that pleases, gives satisfaction; something that just suits. For example, you are pleased with a dress. As applied to cigarettes, it means one that is MILD—that is not harsh or bitter; one that TASTES just right. Great Northern R filtioss Gentral ab, Intl. Tel & Tel 4 Lake Erie & West Lehigh Valley Coal Louisville & Nash Ohio River R. R. 5 Penn-Dixie Crmem Penna 615 1 B o o Sos 1 4 Rep. Tron & Steel 5s 1940_ Fio Gr. Western 4s 1¢ Sinclair Cons. Ofl 7 Vanadium Corp 5s 1< Wabash Rwy. Co ‘Warner Bros .; CHICAGO LIVE STOCK. CHICAGO. August 6 Department of 000. _including (m (United States Agriculture) —Hogs. 10.- med: oo Ooa15i pias, 6,000: calves. 1.500: killing classes mostly steady. moderately active; all kinds sharply higher for week to date, both grassy and srain fed offerings: best steers early. 1190; but_prime offerings bid about 12.00: best yearlinegs. 11 60: heifer yearlings. 10.75: sizeable supply better arade’ steers and long yearlings in crop. She stock fully steady: bulls strong 10 10 cents higher: vealers strong: stock- ers and feeders active at Monday's ad- vance mostly 6.00a8.00: vealers. top. 9.50 Sheep. 5.000: fat lambs very uneven, most sales around steady: other classes little changed: choice S4-pound Wash- ineton lambs. 9.00 straight: comparable at that price. others downward 75 and below. Odd head cholce year- 00: ewes. 2.0 Sowse ! FREIGHT LOADINGS. NEW YORK. August 6 (@ ——Revenue freight car loadings on railroads report- ine today for week ended August 3 in- cluded: Week Previous Last g 5 week Chesapeake & Ohio * Nickel Plate ___ Pere Marquette. Chic & Northw Sothern Pacific® Missouri Pacific 05 Wabash TTee] 19114 *Own line loadings only. METAL MARKET. 'W YORK, August & (».—Copper zleruolyllc. spot and future, fifl(\, n steady: spo ar! iutive DO Tran ‘auiet: i Lead stesdy: spot, New York ast St. Louis. 4.05. Zinc Antimony. spot. GROCERY BUYING LARGER. NEW YORK, August 6 (#).—Fall buying plans for both wholesalers and retailers in the grocery industry are estimated to call for commitments ranging from 10 to 15 per cent ahead of last Fall's initial purchases. NEW YORK BAR SILVER. NEW YORK, August 6 (#)—Bar siiver quiet and unchanged at 67%. @ 1935, Licasrr & Bvass Tosacea Coy i i Chestetfield ... zie cigarerre thars MILDER Chesterfield ... s cigarette thar TASTES BETTER { 4 /