Evening Star Newspaper, August 8, 1935, Page 15

FINANCIAL. CURB LIST TAKES UNEVEN COURSE Profit Taking Is Apparent in Recent' Favorites. Some Gains Staged. - By the Associated Press. NEW YORK, August 8—Curb market prices were a shade irregular at the close today as profit taking ap- peared in some of the recently firm Assues. ‘There were a number of gainers, however, and declines were mostly 1estricted to small fractions. Improvement was shown by Alum- inum of America at 61%, American Gas at 337, Electric Bond & Share at 1415, Hiram Walker at 277, Niagara Hudson Power at 7% and Pioneer Gold at 10%. Stock and Sales— Dividend Rate. Add 00. mlh‘ Aero Supply (B)_. Allied Mills(a25¢c) Alum’n Co of Am_ Alum'n pf (1%).. ‘Am Book Co (4) - Am Ct P&L A (3). Am Cities P&L B Am Cynam(40c)B am Founders. Am Gas&E (1.40). Am G&E pf (6) . 375. 108’4. ‘Am Hard Rubber. 250s 16 Am Laundry (40c) 250s Am Lt&Tr (1.20). 8 AmMfgCo______. 758 5 Am Superpower_. 72 2% Am Superpw pf - 5 26% AmSuperistof__. 1 70% Appalachan Elec Pwr pf (7) 105100% Ark Nat Gas_ 9 2% Ark Nat Gas A 47 Ark Nat Gascupf 71 Art Met W (40¢) AssoG & E Asso G & E (A)- Asso Rayon - Asso Tel Co Ltd pf (1%)- - Atl Coast Fisher. Atlas Corp.- Atlas Corp war. . Atlas Cor pf A (3) Ax-Fisher(3.20)A 260s Baldw Lbdrts(d) 4 Bellanca Aircraft. 2 Bickfords Inc (1). 1 25 1 13% 1% 6% BONDS ON THE CURB MARKET. DOMESTIC BONDS. High. Low. Close. Alabama Pow 4'zs 67 Alabama Pow 46 Alabama Pow 55 Auminum Co 5s Alumium Ltd_5s Am & Cont s Am E| Pow_bs Amer G & E 5s Amer G & Pow (s it Amer P & L 6s 2016 Am Roll Mill Bliss Co (E W) _ Blue Ridge pf (3). Blumenthal S____ Bower Roll B (1). Brazil Tr L&P ... Bridgeport Mach. 3 Brown Copf. ___100s Buffalo Niag & Eastp 1st pf(5) 50s Bunker Hill&Sul. 150s Butler Bros. Cables&Wire (A). Can Marconi Carib Syndicat Carrier Corp Catalin Corp Celanese 1st pf(7) Cent Hudson G & E ctfs (80c) Cent Power & Lt 7% pf (312)- 3508 Cent & S W Util Cent States Elec_. Cent States Elec cv pf (new) Cent St E1 6% pf_. Central States Elec 7% pt Charis Corp (1%) Chi Riv&M (1%). Chief Consol Chalds Co ot Cities Service Cities Service D Claude Neon Lts_. Clev Elec Illu (2). Clev Tractor Colon Oil - Columbia Gas & Elec cv pt (5) - Com'wlth Ed (4)_ Com'with&S war Community P& L ISEor - Como Mines._ Compo Shoe Mach s.t.c.(50¢c) Consol Aircraft__. Cons Copper . Consol Gas of Balto (3.60 Cons Retail St ContG&E pr pf(7) Cooper Bessemer.. | Cora Corp Corroon & R Courtl'ds(a. Crane & Co f Creole Petroleum. Crocker Wheeler. Croft Brewing Cusi-Mexicana M. Derby Oil & Ref __ Det Gray Iron & Foundry (b10c) Dictograph Prod Distillers C-Seagr Doehler Die Cast. Dow Chemical (2) 1101 Duke Power (3) .. 258 54 Duval Tex Sulph 2 9y agle Pitcher Ltd 2 54 astn G&F Asso 1 4y astn G&FpLA (6) 5315 Eastn G&F prof (4%). ___. 50s Eastn States Pw. 1 Elec Bond&Share Elec Bd&Sh pf (5) Elec BA&Sh pf (6) El Pwr Associates El Pwr Assoc (A). 2 | Elec Sharehold’g. Electrographic _. Emp G&F 7% pf. Equity Corp European Elec Ltd (A)(60c) _ Ex-Cell-O A&Tool Fairchild Aviat'n ajardo Sug (a3) - Falstaff Brewery. Fanny F C (50¢).. | Fansteel Prod __ Fedder Mfg (A)__ | Ferro Enam (60c) Fidelio Brewery Fire As Phila (2) 12! Fisk Rubber_____. Flintkote (1) A_.. Ford Mot (Can) (Lo 0k R Ford Mot (Can) B (1%) Ford Mot Ltd (al7.7¢c) e Froedtert Gr & M conv pf (1.20) .. 2005 Gen Alloys___ Gen Pub Sve pf. Gen Tire & Rub Georgia Pw pf (5) Glen Alden C (11) Godchaux Sug(B) Gold Seal Elec __. Gorham vtc ext (al) Grand R Var (50¢c) 51 1 37 3 it 2 10: 9. Cent_ Sta Elec 5¢ 8t Bl [ &l Bis = %o Chi Ry 5s cifs Cities Service Cities Service Cn Gs Blt 4'2s H Con Gs Ut s A 4(, = C GU 6las \‘.n 2 10313 1013 | 10i1% 10:1% s 103%8 210872 a6 1053 ox udal Cudahy Pk Dallas PL 5izs n . 2¢) i 6538 T 10415 10418 1041 10415 8% 5% 23% 2 20% ra % Gt Nor_Pow 55 " 758 Gt W Pow Cal 5 Guif Ofl Pa 5s | Gulf St UL 55 A 10871687 | 767 76% | 10014 1007 | 10234 10234 10314 1032 L1080 i 231 4 Houst 12 Houst L % B Hyde Pow N P Jdsho Power 5s E Intern Sc Am IntIes Intersta Power Intersta Power Intersta P S 42 Inves Co 55 A Towa-N LP Jowa-Nb LP 55 Iowa Pb Sve Jacksonvl Jamai W S 5 Jenie Pak A Jers Cn P&L d Kentuck U 3 Koppers_G. Kresse 55 i 5 el s’ Lehigh P Lexington Ut wq:'-ro-- stom 10714 107% 10376 10312 37 10414 104% 1013 10113 107 107 10815 1081, 22 154 70‘ 58 508 21 Metro Ed 5s Midland V RR Mld Sl Fl 6l2s Ad4a co 3 By private wire direct to The Star. 106% 106% 14% 1 2 26% 26% 0% 70% 100% 100%% 2 2% 1% % | -- 1255100 lB’n 8 | W 1% 1% 815 54 23% 204 101 54 9 5% 4y 53 20% 101 54 9 5% 4% 5315 1 | Root Petrolm pf a8 013 10015 70% 70 1015 55 D 0 In PS 4'25 E '7 No Ohio P&L 5 2 314 10 147 104% s ¢ 043, 100% 100" 100% 1063 1063 1063 10583 1088 1..;;. Peop GL&C 63 '3 102 " 102 Peop L & P 5576 3% % Phila Elec 5s '66 123 Ehila El * s Penn Power b Peop G L 4s B = 105% 105% mflh cu.. ok 1o 2,8 2, SnangES ) - 1053 105Y% 1054- 6122104 1 g 0 Pz ExFo0 '8 4125 '50 D. s A ol ¥ FEE "l g Q o Stand G & E ¢ Slnnd Invest 55 Stand Swift 933 a7 10535 943 25 9334 = wm. 100 57% m:"/: 5 115 96 96 54’,’. 58% 80% 7 76, 1005 10418 1085 6 61 R 9034 Z 105% 105 Z105% 105 102% 102% 105% 105% 85 033 94 90% 90% 105% u;,% 3 ~ lgu% 101!%//; 1047% FOREIGN BONDS. Baden Con M 75 ‘51 52 AP 7!«:- 4% 3 Gauce, Valley 7s A Santa Stinnes 4s 46 s Terni 628 Tietz L 7Tlas '45 ww—With warrants. I Without warrants. +| Noma Elec Corp 1% | | Pitts Plate G(12)_ NEW YORK CURB MARKET Stock and Sales— --100s 1 19% 13% 35% 6915 11 12% 3% 19% 35% 12% Great Atl & Pac Tea 1st pf (7). 208126% 126 126% Greenfield T&D_ 84% 84% Harvard Brew_ 1 3 13% Holly Sugar- Min & Sm(a50c) 58% 58% 8 Hy, (2) - 4008 3414 34% Imp Oil Ltd 13 (135¢) Insurance Co of 1 System cv pf___150s 3% Int Petrolm(2%) Dividend Rate. Add 00. High. Low. Close. Tean-v (16)... 10s138 138 138 Great Atl & Pac Great Northern Paper (1) ___ 2;'/. 2;‘/' Gulf Oil of Pa. 61% 62 Gulf Sta Ut pf (6) 25! 2% 2% Hecla Min (a10e) . 10% Hollinger G(fl&o) Horn&Hard pf(7). l(lu 1061/. mw lflhVn Hudson Bay 11 15% 15% Humble Oil (1), 14 Hydro Elec Slc 4% 4% Syl 268 32% 32% m P&L 6% pf.- Il Pw&Lt $6 pf._. 24508 34% 34% coupon (t50¢) .. Imp Tob Can - 1 Imp Tob Grt Brit &lIre (a71%c).. 1 North Am (2)_. Intl Hydro Elec Intl Mining(a30c) 7 Intl Mining war 8 16 Intl Products 1 4 % 21 15% 95 10% 50 2% ™ Intl Util (B) 1 “nterstate Po (Del) pt = Irving Air C(160c) Koppers Gas & Coke pf (6) Kreuger(G)brew. Lake Shore M(12) Lakey Fy & Mch . Lehigh C&N (50¢c) Leonard Oil Libby McNeifll&L. Loblaw Groe Ltd (A)(1) 258 Long Island Light 22 Louisiana L&Ex . 1 McCord Rad (B) 2 McW1ll Dredg(12)150s Maryl'd Casualty. Mem Nat G(al0c) Mercantile Stores. Michigan Sugar_- Middle States Petrol vic A Middle W Ut (d) Midvale Co (b1).. Mid West Util conv pf A (d). Mohawk Hudson 1st pf (4) Mohawk H 2d pf_. 50s 32% 32% Molybdenum _ 6 13% 134 Mont Ward (7) A 1508 137% 137 Murphy Co (1.60). 2105 104 Nat Bella Hess___ 2% Nat Bd&Sh (11).. Nat Fuel Gas (1) Nat Investors. Nat Inv pf (34)- Nat Leather Nat P&L pt (6) Nat Rubber M. Nat Steel Car Ltd. Nat Transit (80c) Nat Union Radio.. | Neni Corp 30s 2: 8 - 100s 2 1 20 2 12 2 = & 6% 19 5% % 6% 39 2W 3 72 105 2% 37 18 76 N Y Shipbldg | N Y Tel pf (6 iag Hud Pw. Niag Sh Md B | Niles-Bem-Pond Nipissing(al2iec) 14 21 2 1% 18 2% 10508 217 S A | North Am L&P Nor Am L&P pf_ Nor Am Util Sec__. Northn N ¥ Uil 98% 17 237 974, 104, 106% 3% 2l Northern States Power (A)____. 11 19% Novadel Ag (2) . 2 24 Ohlu Edis pf (6)-.100s 97% | Ohio Oil cu pf (6). 2104% Ohio Pwr pt (6)__ 305107 Overseas Secur.. 3 3% Pacific Eastern.., 17 2% PaciticG& E 1stpf(1l) ___ Pac Light'g pf (6) Pac Tin spec (1) Pan-Am Air (1) | Pantapee O11 Param’t Motors. . 1 Parke Davis (11). 4 Parker Rust (13). 300s Pennroad Corp 9 PennCent L& P pf (2.80) | Pepperell Mfg(6) 440s Phoenix Secur Phoenix pt (3) Pierce Governor Pioneer Gold Mines Ltd (80c) 6 Pitts Forge. Pitts& L E (2%). 60- 8 2 10: 354 38 5 27% 258102 5258 354 2 38% 21 | Powdrell & Alex | azse). | Premier Gold(1ze, 1 Prod Royal(2%¢c) 20 | Pub Sec Util pr pf 25s Puget Sound Pw & | Ltsspr 2758 Puget Sound Pw & Lt $6 ot - 4 Rwy&Lt Secur Reliable Stores Reynolds Invest Rice Stix DG (2). Root Petrolmeum. 25s 758 | St Anthony Gold St Regis Paper___ 1 St Regis Paper pf. 9 Salt Creek P(80c). Segal Lock & H. Selected Indus._. Seton Leather. Shattuck Den Min Shenandoah _. Shenandoah pf__. 20% 2 Sher-Wilms (4)_.. 4 101% 1015 1011 Shewin-W pf(6)_. 60s107% 107 107 Singer Mfg (16)-- 40s ZQb‘m 296 296% Smith (A O).. 2 50% 49 504 Sonotone Corp___. l’u 1% 1% South Am Gold & Plat (40¢) .. Southn Calif Ed pEB (1%). Southn Calif Edis pfC(1%) 1 SouthnColoPwA 1 Sq Deal pf A 2.20_ 500s Square Deal (B).. 4 Stand Inv cu pf_. 100s Stand Oil Ky (11) 8 Stand Oil Ohio.. 3 Stand Pw&Lt _ Stand Pw&Lt B 2% 29% K b2 1% 5% 2% 1% 30‘ T Yy 1% 5% 8 [T T STOT S ST SN 3% 3 3 o 25 2 }e&nn or being reor: $11.231,979 GOL REGEIVED IN DAY Shipments From Amster- dam Expected to Continue as Guilder Lags. By the Associated Press. NEW YORK, August 8.—Gold ship- ments totaling $17,237,979 arrived to- day from Amsterdam, the largest single day’s recelpts since the cur- rent import movement began during the recent Dutch cabinet and finan- cial crisis. Arrivals of the metal so far total $46,512,979. Foreign exchange circles report further engagements of gold | for shipment here are likely, as the Netherlands guilder continues below the level at which such imports are profitable. The guilder held steady in today's early exchange dealings around 67.70 cents, about .10 of a cent under the theoretical gold export level from Amsterdam. COLGATE SETS ASIDE RESERVE OF $900,000 By the Associated Press. JERSEY CITY, N. J, August 8.— | Colgate-Palmolive Peet Co. in its | semi-annual statement disclosed m had set aside $900,000 out of net | profits as a reserve to guard against the possible future decline in market | value of its inventories. Net profit for the first six months of this year amounted to $1,924,810, after deduction of the $900,000 reserve fund, compared with $2,416,887 for the similar period of 1934. Stock and Sales— Dividend Rate. Add 00. High. l.a' Close. | Walker (Hiram).. 12 27% 7 Wenden Copper _. 8 1 W Va Coal&Coke 1 Westn Alr Exp(n) 6 Western Auto Supply (3) A West Tab&Sta (1) Woodley Pet (40c) 1 Wright Harg t40e 58 7% Yukon Gold 5 1% Dividend rates in doilars pased on toe | 4y 21y 100s 54 6 157 e SPaid this vear | dCompanies repogted in jzed tEx d Paris Bank Cuts Discount Rate to 3 Per Cent Level By the Associated Press. PARIS, August 8—The of France today lowered the discount rate from 32 per cent to 3 per cent. The rate on loans on gold bars was reduced from 7 per cent to 6 per cent. It was the first reduction on gold loans since the May financial crisis caused the rate to be raised from 3% per cent. Loans on securities were reduced from 5 per cent to 4. Thirty-day loans’ rates were reduced from 3% per cent to 3. ‘The French government has recent- ly embarked on an economy program intended to cut living costs and re- duce governmental costs. During the Spring a great drain on the Bank of France's gold reserve caused the gov- ernment to raise discount rates in order to halt speculation and main- tain the exchange level cf tne franc. e INVESTMENT TRUSTS NEW YORK. August 8 (#.—New York Security Dealers’ Association: (Closing quotations.) Asked. Admin Pund ww 534 - Am_Business Shrs Bullock Pund .. Cumulative Tr Sh_ Corporate Trust Corporate Trust AA Corp Tr AA mod Corhorate Trust Acciim Se Corp Ty Accum Ser mod- Depos Bk Sh N Y A_ Depos Ins Shrs A E | Diversified Tr C._ 34 | Dividend Shrs 3 Five-Year Fixed Tr. Pixed Trust Sh A Fixcd Trust Sh B Fund Investors In hrs A = 19.69 | m\ 89 | 312 140 143 | Incorp Investers - Inv Tr N ¥ Coll A~ Investors Fund of Am Inc North Am B(nd Tr Cts Nor Am_Tr Shares_ Nor Am Tr 8h 1 Nor Am Tr 8h | - Nor Am Tr Sh 145 3 | Plymouth Pund A . ... . 1.01 Quarterly Inc_Shrs. 1.51 Selected Am Sh - =~ Selected Am Sh Inc. 1.45 Selected Cumul Sh_ - ! Selected Income_Sh i Spencer Trask Pund_ Stand Am Tr Shrs. 50 | Supervised Shrs _ Trust Pund Shrs Trusteed Industry Shrs Trusteed N ¥ Bk Shrs Trusteed Am Bk B ISTORES PREPARE FOR FALL UPTURN All Lines of Retail Trade Share Gains During First Six Months. BY RADER WINGET, Associated Press Pinancial Writer. NEW YORK, August 8. — Retail trade, backed by wide gains, already achieved this year, is preparing for what some authorities believe will be the greatest forward drive of the re- covery era. Conclusions of trade analysts are based on operations reports for this year and on forecasts coming into the financial district on the approach- ing Fall and Winter season. During the first half of 1935 retail dollar sales were some 6 per cent higher than for the first six months of last year. All major divisions re- ported universal gains, with the ex- ception of variety chains, where a large increase by one firm offset small losses from the previous year chalked up by three others. Weekly reports since July 1 have | confirmed the upward trend of sales. As evidence of the favorable outlook | for retailers, trade authorities point to the number of buyers in the New York market during July, highest for that month since 1929, and to the at- tendance of buyers in Chicago, which, during special events of the last few weeks, compared favorably with pros- | perity peaks. The buying wave in department stores has extended back to the whole- salers, who have relayed orders on to manufacturers. Attention has been called to the late Spring demand by consumers this year. Some believe the sustained | Summer volume of business can be attributed to this pent-up need for merchandise. The entire however, has first half of this year, been excellent for mail order houses. Montgomery, Ward & Co. reported sales this year 20 per cent ahead of the 1934 first half. Sears, Roebuck & Co. announced sales from January 30 to July .16 were 26.7 per cent over the similar period of last year. Sears’ profits were up 33 per cent, I . FINANCIAL. but other retail concerns have not fared so well. Surveys show that in many cases profit gains were not so great as sales gains. Both volume and profit figures came only as a result of strong drives for business, since retail prices, with the exception of foods, were lower in the first half of this year than last. Foods | were about 13 per cent higher. The outlook for the remainder of this year, based on the favorable re- sults shown in July and August, is described by some authorities as gratifying. They point to increased buying power of the people in the cities be- cause of rising industrial production, and they state that Federal work-relief programs will add to the spending money of urban dwellers. Farm populations are counted on to contribute strength to the mount- ing retail demand because of the esti- mated b to 125 per cent increase in income for the entire year compared with 1934. -— LONDON BANK REPORT. DON. August 8 (P).—The weekly N statement of ‘the Bank of England shows | Total | the following changes in pounds 92.000; circulation bullion decreased other securities increased 2.992 - 7.119.000: 000; notes Rovernment i 17 000; 000; public deposits decreased other deposits incre 18, reserve decreased 74.000; securities decreased 170.000. The proportion of the bank’s reserve to Yabllity ts 3013 per cent. compared with last week Bate of dimount. 2 per cent. S S and SAFE. *Non-i becauseit'ssopure. Extra volve ot no CHICAGO LIVE STOCK. ICAGO, August 8 (P.—Hogs. mcluam; 1.500 direct; opening s higher than Wednesday's ave 2.05; bulk Sholce - 7,500, 10-18 e #i0-580 Light and 50 up: 1ater map. steady; piss 5.000: calves. 1,500: better grade fed steers and yearlings scarce, fully steady. higher in “instances; grades also getting action about 'steady: at cows and all heifers firm: cutter cows rather slow. about steady: bulls steady; vealers strohe: prime 1,107-Dound steers. 5: yearlings averaging 1,030 pounds. 11.65; no strictly finished heavy steers ip Belfer yearlings. 10.75: " selected vealers. 9.50a75; stockers and feeders, Very'scarce. unevenly hisher. Sheep. 7.000: active: bulk all classes ch o, Stow,” Bidding” around scarce. Cattle, ingly to all’ interests; choice Idaho rangers cholce 7%-pound yearlings, ewes, 2.0083.5! FOREIGN MARKETS. By the Associated Press. LONDON.—Business on the Stock Ex- change remained restricted toaay. Indus- trials developed irregularity. while Brasil- ian and German bonds improved. the for- mer on reports that their debt service will not be suspended. Oil and rubber shares were easier, with (runs-AHinuc issues dull. | The market closed quiet. PARIS.—After a dull opening prices on the Bourse strengthened today following rentes. which gained fractionally. ~Metals continued their light advance, while inter- nationals held firm and local issues were irregular. The closing was firm BERLIN.—In view of the slackness of business on the Boerse today attention was confined to the conversion of the 150.000,000 mark 6 per cent Federal Railway bonds into a 42 per cent issue to which fresh subscriptions were a| vited at 98%. The closing was susta: Now WEIRTE OSOFT / * ONLY C itating, too, extra cost! Today's biggest value in toil let poper. Ask for M.P.C. todayl Mo DL Morgen Paper Co. Lamsdowne, Pe. AMOND JU! Ym’-i %ELEGANCE SIMPLICITY August Sale Stand Silver & L. Starrett Corp__ Starrett Corp pf.- Stutz Motor - Sunray Ofl — Sunshine M(1.20). Swift Intl (2) ... Swiss Oil (40¢) Tampa Elec (2.24) Technicolor inc Teck Hughes(40c) ‘I'enn Products Texas Guif Prod ‘Trans-Lux Daylite Pie 8n (20c) - Tri-Contl C war_.. Tubize Chatillion_ Unit Chem pt pf__ Unit Corp war. Unit Founder: Unit Gas Corp Unit Gas Cor war Unit Gas Corp pf Unit G&E pf (7). Unit Lt&Pw (A). Unit Lt&Pw B _. Unit Lt&Pw pf__ Unit Molasses Ltd (a6%c) Unit Shoe Mach (123%) . Unit Shoe Mach U S Foil (60c) B... U S & Intl Secur_.. U S Rub Reclaim. Unit Milk Prod Unit Stores vte Unit Verde E 40c_ Unit Wall Pap(n). Utah Apex Utah Pwr & Lt pf Utah Radio Prod (31.16%¢) Utilities P&L .. . Utilities P&L pf Utility & Indus pf Utility Equities . 10 4 32 4 Sullivan Machine 200s 27 17 [ N 10s 4 -. 3508 % 15% 2% 3 Domin ates the . Take our word for it this suite will be a “best seller”—both because of its beautiful design and character, and its extremely low price. from an Old Colonial motif—utilizing the then, as now, struction—with large pieces, but in such perfect balance and harmony. It's an a daptation popular solid maple for con- The finish emphasizes its effectiveness—rich amber in in tone and high gloss. Twin beds if de- sired—and indiv: Rich Frieze Bk 0 Quality built throughout—a 2- piece group that is unusually dis- Note especially the at- tractively . covered frame—the tinctive. idual pieces may be selected. Carving, Covering sweeping graceful lines that spell comfort, _with the deep seat and reversible cushions. covered in fine grade of frieze. And New Duncan Phyfe Drop- Leaf Table in solid mahogany is one of the many outstand- ing values in this August Sale. Sturdy construction and rich, lustrous finish. Occasional Chair that will grace any room in which it is placed. Solid ma- hogany frame; handsome carving —and covered in heavy tapestry. Hundreds of other new arrivals for the August Sale, as well as many pieces from regular stock, greatly reduced for clearance. Open all day Saturday Convenient Credit at no additional charge Seventh and Eye St~ 3 Utllity Eq pf(3%) 50s 68% 681 Venezuela Petrol. 7 1% 1% m Waco Aircraft.. 2 6 6 ‘Waitt & Bond (. 1 9% 9% 9’. 039 10" s 67 a Vi_When lnued §hecohianiitty impaired by maturl 'O:mn!nlel ,!Owl'ud in receivership or being reorganized. ’ a 55 103 l(?" ’/A 103 "/4 46! lnnfg 1“R 108 99% 90% 99 A A 8433-35 Georgi A [{HOUSE & HERRMANN s C W&P 4‘/:1 D '70.