Evening Star Newspaper, August 8, 1935, Page 16

L4 FINANCIAL, HECHT APPLAUDS TRANSACTIONS ON THE NEW YO * SURETY RESULTS A. B. A. Chief Hails Aid of F. D. I. C. and Ability of Executives. BY H. B. ROGERS. R. S. Hecht, president of the Ameri- can Bankers' Association in a state- ment today declared that the recent report of the Federal Deposit Insur- ance Corp. for the year ending June 30, 1935, “is such as to inspire confidence that banking is receiving the full measure of helpful service which the corporation was planned to render.” “A study of the report of the corporation,” said Mr. Hecht, “has brought to bankers a renewed sense of gratification at the high order of executive ability which has Seen placed in charge of this most import- ant Government instrumentality. Confidence Inspired. “The details of Mr. Crowley’s report are such as to inspire confidence that banking is receiving, in return for its contributions to the corporation’s financial structure, the maximum of efficient administration and the full measure of helpful service which the corporation was planned to render. “I refer particularly to such salient facts as that while 91 per cent of all licensed banks in the United States, or 14,279 institutions in number, with $41,000,000,000 in deposits, have been brought into the F. D. I. C., there has been a progressive reduction in operating expenses. There has been a decrease in this item from $2.845,- 000 for the 10 months ended June 30, 1934, to a budget of $2,500,000 for the 12 months of the current fiscal year. The corporation has promptly and fully met all its loss obligations. It refunded to withdrawing banks 100 per cent of their contributions. Its total income on investments amounted to something over $9,000.000. These are all indices of businesslike manage- ment. “I believe that bankers throughout the country will join in congratulating Mr. Crowley and his fellow directors upon their high degree of public serv- ice which they are rendering in their administration of the F. D. I. C." Named Bank Chairman. Election of Arthur Peter as chair- man of the Board of the Washington Loan & Trust Co. at the regular monthly meeting of the Board of Directors yesterday to succeed the late John Joy Edson, still leaves Harry G. Meem, the president, as active head of this institution. Mr., Peter was elevated to the post of chairman of the board from his previous position as first vice pres- ident and general counsel. He con- tinues as general counsel. Mr. Peter is a practicing attcrney with offices in the Washington Loan & Trust Co. building. Born in Rockville, he was ‘admitted to the bar here in 1894. In ‘addition to the practice of law, he ‘lectured in law for a time at National "University and later was professor of “law for several years at George Wash- ‘ington University. He is a member ‘of the American Bar Association, 'Maryland and District Bar Associa- ‘tions and the Society of Cincinnati. 'He belongs to the Metropolitan, Law- {yers’ and Chevy Chase Clubs, ! Mr. Meem, the president of the company, has been with the institu- ', tion since 1891, and has been elevated to the head of the bank through sev- eral other offices of responsibility. Others Are Advanced. The vacancy in the office of first vice president, left by the advance- ,ment of Mr. Peter brought about promonon of the four other vice pres- ‘ldenns in order. These men ad- vanced were Charles H. Doing, to be 'first vice president in charge of the ‘west end office; Charles R. Grant, to ‘be second vice president and treas- 'urer; William H. Baden, to be third ‘vice president and trust officer, and ‘Alfred H. Lawson, to be fourth vice ‘president and real estate cfficer. : Building Gains Cited. ! In a survey prepared for Fenner & | Beane, the Federal Housing Adminis- ‘tration declared that fact-finding ‘authorities note in the first half of 1935 a notable revival in the build- Ing activities, with operations reach- ing a four-year peak high for the Nation as a whole, and with many sections recording a five-year nigh. Progress was practically uninterrupted since the first of the year, with the most rapid pace attained during May and June, months usually marked by seasonal recessions. Building supply dealers’ sales for first six months averaged from 35 per cent to 60 per cent over compara~ [} tive totals of last year. ‘The real estate market shows gen- eral betterment marked by decreased vacancies, advancing rentals, fewer foreclosures and more frequent mortgage applications. The week closing July 29 was peak week reported by the Federal Hous- ing Administration, with dollar vol- ume of modernization credit snd mortgages approved for insurance totaling $13,846,296. Reports from 215 cities estimate value building covered by permits is- sued in June at 52,000,000 as com- pared wth 49,000,000 for May, an in- crease of 84 per cent over correspond- ing month of 1934. Regarded as Significant. ‘There is already direct evidence of ‘the importance of the amendment to the national housing act permitting insurance on loans up to but not ex- ceeding $50,000 for the modernization ‘of commercial and industrial prop- erties. Income prcperty management ‘hotels, apartment houses, tea shops and breweries have already been granted loans for improvement pro- grams ranging in cost from $2,000 up- ‘Wward to $50,000. George O. Vass, vice president and cashier of Riggs National Bank, is on Vacation. Raymond Marx, controller of Riggs National Bank, has left for vacation. ' Ralph Endicott, assistant treasurer of the Washington Loan & Trust Co.. s back at his desk after a month in the hospital. Exchange Trading Active. Trading was active on the Wash- Ington Stock Exchange, centering al- imost exclusively on utilities, with the single exception of Mergenthaler Lino- type, which sold in four blocks at 28. ! Capital Traction 5's went at 99, #nd Capital Transit Co. stock was pctive in eight transactions of 90 shares selling at 18, a fraction under Yesterday. + Potomac Electric 6 per cent pre- ferred went at 111%, and the 5% per cent preferred of the same company et 114 W Railway pre- fferred sold at 106%. Washington Gas 6s turned over at 102. « The largest sale of the day was 85,000 in Potomac Electric consol- d 5s at 103%. Prev. 1038 Btoek lnd High. Low. 45 32 Abr & Strauss (11)- 7% 4% Adams Express 91 84% Adams Exp pf (5). 33% 28 Adams Millis (2).. 12% 8 Addressog’h(albc). 8% 6% Affiliated Pro (60c). 149% 104% Afr Reduction (13). 20% 15'% Alaska Jun (160c) 1% % Alleg Corp (d)__. 7 2% Alleg pf w$30w (d). 12% 6% Alleg prpf (d)- 30% 21 Allegheny Stl (1) 162 125 Allied Chem (6) _.. 12714 122 Allied Chem pf (7). 6% 3% Allied Stores 49 Allied Stores pf (5). 12 Allis Chalmers 14 Alpha Port Cm! 215 Amal Leather 26 Amal Leath pf (§2). 48's Amerada Corp (2) .. 41'2 Am Ag Ch Del (2).. 13% Am Bank Note .__ 43 Am Bk Note pf (3).. 21 Am Brk Shoe (1) 128% 119 Am Brk Shoe pf (7) 146% 110 Am Can (t4) __ 168 151% Am Can pf (7) 25% 10 Am Car & Founds 253 Am Car & Fdry pf._. 66 Am Chicle (13) 2% Am Colortype._. 22! Am Comcl Alcohel 62 Am Crystal Sugar_. 57% Am Cryst S pf (a3).. 72 AmCrysSistpf 6. % Am Encaustic (d).. 2 Am & Foreign Pwr. 12 Am & For Pw $6 pf. 14 Am & For Pw $7 pf. 3% Am & For Pw 2d pf. 2% Am Hide & Leather.. 17 Am Hide& L pf_ 29's Am Home Pr (2.40). 4's Am International _. 1% Am La Fran pf (d)-. 9 Am Locomotive_ ___ 32 Am Locomotive pf . 181 Am Mch & Fy (80c). 13'3 Am Metal .___ 72 Am Metal pf (32) __. 113 Am Power & Light_ 8% Am Pw & Lt $5 pf__ 104 Am Pw & Lt $6 pf__ 10'; Am Radiator - 15% Am Rolling Mills __ 66 Am Safety Raz (5)- 45 Am Seating vtc 20 Am Shipbldg (2) 313 Am Smelt & Ref 4103 AmS&R 6%pf $13%x 63 Am Snuff (13).____. 3 12 Am Steel Foundry_. 31 88 Am Stl Fdry pf (2). 100s 51% Am Sugar (2).__. 1812 Am Sum Tob (1) 987y Am Tel & Tel (9) 722 Am Tobacco (5) 74% Am Tobacco B (5)_ x 7's Am Water Works__ Am Wat W 1st (6). Am Woolen . __ Am Woolen pt Am Writ Pap (d). Am Zinc & Lead pf_ ‘Anaconda Copper._. Anaconda Wire Anchor Cap (60c)- Archer Dan M (t1). 34 Armour of Illinois . Armour(Ill)pr pf 6. Armstrong Cork 50¢ Arnold Constable. .. Artloom Corp 712 Asso Dry Goods. 8073 Asso DG 1st pf($9) x 48 Asso DG 2d pf 35% Atch To&S Fe (a2) . 19'; Atlantic Coast Line 28 21% Atlantic Ref (1) .__. 44> 32% Atlas Powder (2)_ 1133 106% Atlas Pwr pf (6) 29% 15 Auburn Auto. . 4 2% Aviation Corp(Del). -_— 6% 2 Baldwin Loco (d) - 26% 7': Baldwin Loco pf (d) 15 713 Baltimore & Ohio__. 9's Baltimore & Oh pf_.. 47': 36's Bang & Aroos (2%) 115 106% Bang & Aroos pf(7) 6 31 Barker Brothers___ 32 Barker Brothers pf. 57 Barnsdall Corp 14'4 Beatrice Cre (a5 72 Beech-Nut P (13) __. 11% Belding-Hem (a50c) 85 Belg Nat pt pf(7.02) 117 Bendix Aviation 15'% Beneficial Lo (13%). 34 Best&Co(2). ... 215 Bethlehem Steel’ _. 55% Beth Steel pf(al¥%) 14% Bigelow-San Corp.. 98, Blaw-Knox 16% Bloomingdale (40¢) 103% Bloomingdale pf(7) 615 Boeing Airplane __ 39% Bohn Alum &Br (3) 90 Bon Ami (A) (t4).. 21 Borden Co (1.60)-_. 281 Borg Warner (1%). 81; Bridgep’t Brass 40c 24': Briggs Mfg (2) 23 Briggs & Strat (3)_. 30% Bristol-Myers (12). 36's Bklyn-Man Tr (3) ... 90 Bklyn-Man T pf(6). 175 Bklyn & Queens 14 Bklyn& Qpf (2)-_ 43 Bklyn Union Gas(5) 4% Bucyrus Erie __ _. 815 Bucyrus Erie cv pf_ 62% Bucyrus Erie pt (2) 3% Budd(E G)Mfg____. 23 Budd(E G)Mfg pt. 2'2 Budd Wheel . 80' 4 ll 10134 TRY 575 3T 1816 13% Burr Add Meh(«oc) 1 Bush Terminal (d). 5% Bush Term deb (d). 1's Butte Copper&Zine. 3 Butterick Co (d) 11% Byers (A M) 60 32 Byers(AM)Dpf_. 422 1 4% 22% 16% 13% 301; California Pkg(1%) 1 Callahan Zinc___. 2% Calumet & Hecla. 7% Campbell-Wy a40c. x 8% Can Dry G A (40¢).. 9% Canadian Pacific.... 30 Cannon Mills (2)__. 43; Capital Admin (A). 321 Cap Adm pf A (3) 45% Case (J I) Co_ 3614 Caterpillar Tr 19% Celanese Corp-. 17% Celotex Co (d) 11% Celotex Co pf (d) 22% Cent Aguire (1%).. 6% Century Rib Mills__ 385 Cerro de Pasco (4)— % 23 Certain-teed Prpf_. 3714 Ches & Ohio (2.80)_ 36 Chesapeake Corp(3) % Chi & Grt West (d). 1% Chi & Grt W pf (d)- 1 15% Chi Mall Order (t1) x 11 % Chi Mil StP&P (d). % Chi M StP&P of (d) 1% Chi&NW () .- 35 Chi & N W pf (d)__. 4% Chi Pneumatic Tool 20 Chi Pneu Tool pf... % Chi R I&Pac (d) 1% Chi R 1&P 6% pf( 1% Chi R I&P 1% pt(d) 25% Chickasha C O (2) . 9 Chile Copper__ 31 Chrysler Corp (t1). 16 City Ice & Fuel (2). 3% City Stores . ____. 12% Clark Equip (80c) 35% 27% Clev Graph Br (1). 2815 20 Cluett Peabody (1) 126 112% Cluett Peab pf (7) 57% 53% Coca-Cola A (3) 15% Colgate-P-P (50¢) 9 Collins & Afkman__ 69% Collins & Aik pf (7) % Colo Fuel & Ir (d) .. 5 ColoF&lpf(d) _. 7 Colo & Sou 1st pf__. 3% Col Gas & Elec _.. 35% Col G & Epf A (6). 341 Colum Pie vto (1) 67 Colum Carbon (4).. 39% Comel Credit (2) .. 56Y% Comel Inv Tr (12) . 98% Com IT cv pf(4%).. 17% Comel Solv (160¢).. % Comw & Southern... 29% Comw & Sou pf (3). 27 Congoleum-N(1.60) 9 Congress Cigar.___. 23% Conn Ry&Lt (433)-. 7 Consol Cigar... 3% Consol Film _.___. 14% Cons Film pf($1%) 29% 21 60% 24% 5 18% Dividend Rate. Add 00. High. 46% 126% 126% + % 14215 143% — & 159 12 T% 33% 39% 17% 15% Consol Gas N Y (1) x 09 5 0% 4 6% Consol Ofl o 112 108% Consol Oil ptf (8) 5 2% Consol RR Cuba pf. 1% % Consol Textile __ 13% 8% Container Corp (A). 5% 2% Container Corp (B). 7% 4% Contl Baking (A) - * & 22% 541 91 3% 231 14% 116% 3% 1% 6% 34% 37w 112 7 384% 17'% 3% THE EVENING STAR, WASHINGTON, D. €, THURSDAY, 159 23% + 541 — 91 3% + 82 8% 8% 8% 5 IOQK 109% 109% — % 3 ’ L+ 1+ ++ + 1L +1+ PEEFES 1929 high 1927 low ... 51.6 Compiled by the Assoclated Press. Pr”. 1935 Stock and Low. Dividend Rate. 5 Contl Baking (B). - 46% Contl Baking pf (4) 7 Contl Dia F (a30c). 287 Contl Insur (11.20). % Contl Motors. ____. 15% Contl O Del(a373%¢c) 41% Corn Ex BK&TT (3). 62 Corn Prod Ref (3).. 165 149 Corn Prod pf (7). 6% 4% Coty Inc_ ... 35% Cream of Wh ( 86 231 Crown C&S (1 47% 43% Crown C&S pttl 10) 25% 14 Crucible Steel . 47% Crucible Steel pf. 5'% Cuban-Am Sugar... 40% Cuban-Am Sug pf. 15 Curtis Publishing__ 8915 Curtis Pub pf (7). 2 Curtiss Wright.___. 6% Curtiss Wright (A) 61 Cushmans pf (8) 16 Cutler Hamme: l‘m 66% SEEFFEFE FE FE F 6 Davega Store: 22% Deere & Co 19 Deere&Co pf ($75¢). 2313 Delaware & Hudson 11 Del Lack & West __. 65 Detroit Edison (4) . 26 Diamond Mtch t1%. 34'% Dome Mines (12) 6% Dominion Stores. 17'3 Douglas Aircraft .. 131 Dresser M(b13;)A_. 6% Dresser Mfg B__ ' Duluth S S & Atl 12% Duplan Silk (1) 103 Duplan Silk pf (8)_. 86% Du Pont de N(2.60). 1267% Du Pont deb (6 19 111 109 131 8 3% Eastern Roll Mills_ 152 110% Eastman Kod (5)-—. 23% 16% Eaton Mfg (1) . 7% 3Y% Eitington-Schild 29 19% Electric Auto Lite. 112 107 Elec Auto L pf (7). 374 Electric Boat .. 5% Elec & Mus Ind 1% Elec Pw & Lt 215 Elec Pw & Lt $6 pf_ 3 Elec Pw & Lt $7 pf. 39 Elec Stor Bat (2%). 8 Elk Horn C pf (d) - 52% Endicott-John (3) 14 Eng Pub Svc $5 pf 14'; Eng P S $5.50 f w 4% Equip Office Bldg T4 ErfeRR .. __ 81, Erfe R R 1st pf 10 Eureka Vac C (80¢) 15 Evans Prod (a1) - s». 5% 21% 25 494 1% 17 Fairbanks Mor: 71’2 Fairbanks M pt ll’b 2 5% Fed Lt & Tr. 48 Fed Lt & Tr pf (6) 3%, Fed Motor T (al0¢) 16'x Fed'd D Strs (160c). 28'3 Fid Ph F In (11.20). 1314 Firestone (40¢) . 8412 Firestone pf (6) A__ 45% First Nat Strs (2%) 2% Follansbee Bros(d). 20% Food Machine (1) 97 Foster-Wheeler. 60% Foster-Wheeler 19% Fourth Nat 1al.10 8% Fox Film (A) - 30% Frank Sim pf $3% 17% Freeport-Texas (1). 4% Fuller Co 2d pf_. FREEE F 12 9% 7 Gamewell Co__ 912 5% Gen Am Investors 44 32% Gen Am Trans(1%) %?% 11% Gen Asphalt 134 115 Gen Baki Tia 4% 461y 64y 29% B % 70‘n 111'/4 50 Gen Cigar (14) 20% Gen Electric uoc) 32% Gen Foods (1.80) .. % Gen Gas & El (A) . 59% Gen Mills (3) 26% Gen Motors (12) 107's Gen Motors pf (5) 3% Gen Outdoor Adv._. 175 Gen Print Ink(1.60. 1% Gen Public Service. % Gen Realty & Util.. 14% Gen Real & U pf ww 16% Gen Refractories _ 14 Gen Stl Casting pf_. 12 Gillett Saf Raz (1) 70: Gillett Saf R pf (5)- 215 Gimbel Bros 18 Gimbel Bros pf_. 23% Glidden Co (11) . 104% Glidden Co pr pf (7) 1'% Gobel (Adolf) (d).- 14% Gold Dust (1.20) T3 Goodrich (B F).. 15% Goodyear T&R ... 70 Goodyear $7 pf () 213 Gotham Silk Hose_.. 1% Graham-Paige. 5% Granby Consol 14% Grand Unpf (1%)- x 18% Granite City Stl (1) 26 Grant (WT) (1) 9% Grt Northern pf____ 9% Grt North Ore (50c) 26% Grt West Sug (2.40) 140 119 Grt West Sug pf(7). 55% 20% Greyhound Corp 2% 1 Guantanamo Suga! —_— 7% 4 Hall WF Printing_ 96 63 Hamilton Watch pf. 108 101 Hanna (M A)pf(7)- 24% 16 Harbison Walk (1). 5% Hat Corp of Amer__ 109 81 HatCo pf ww (6%) 1% Hayes Body ... .. 11 Hercules Mot (60c). 71 Hercules Pw (13)__ 5% Holland Furnace __ 6% Hollard & Son (50¢) 30% Houd-Hersh (2%) A 6% Houdaille-Hersh B 9% Houston Oil 1% Houston Oil (new) . 43 Howe Sound (3) 2% Hudson & Manha! 6% Hudson Motor Car. % Hupp Moto; !Nh 3% FE SES LI+ 4+ 4 & + 4+ & [ P Fe 12’ 9% Illinois Central 40 111 Cent Ise lines 23% Indus Rayon (1.68, 60% Ingersoll-Rand (2). 46% Inland Steel (2) ._ 214 Inspiration Copper.. 8% Interboro R T (d) 4% Interlake Iron .. 2% Int Agricultural ... 26 Int Agricul prpf . 3% Int Car’rs Ltd (20¢) 22% Int Cement (1) z 3414 Intl Harvester (80c) 1% Int Hydro Elec (A). 1% Int Merch Marine .. 22 Int Nick(Can) (60c). 1% Int Paper & Pw (A). % Int Paper & Pw (C). 4% Int Paper & Pw pf_. 21% Int Print Ink (1) ... 9815 Int Print Ink pf (6). 9% Int Ry CA pfoceeee 29 IntSalt (1%)ccaeea 42Y% Int Shoe (2). 16 IntSilver. . —eeee. % 60% Int Silver pf (4)——. 5% Int Tel & Tel . ___. 14% 8% Intersttae Dep Strs. 36 25 Island CreekC (2)-. ——— “!6 49 Jewel Tea (3) 381 Johns-Manv (a50c). 125»/. 117% Johns-M§nv pf (7). 73% 50 Jones&Laugh?%pf. ——— 13% 6% Kans City South pf. 15% 7% Kaufmann D 8(80c) 21% 15% Kayser(J)&Co(50c) 2% % Kelly-Spring T (d)- 20% 6 Kelly-ST 6% pf(d). 23% 6 Kelsey-Hayes (A).. 21% 3% Kelsey-Hayes (B)_. 18% 12 Kelvinator (150¢).. 21% 13% Kennecott C (60¢).. 5% 3 Kinney (GR)Co. . 38 23 Kinney (GR) Copf. + % 15 Util. Stocks. +.1 35.8 25.7 326 28.1 36.3 216 40.6 242 239 1843 618 Sales— Add 00. High. 51 4 66% 14 1% 10% 1 27% 106 106 106 81% 48% 21% 9 10% 14% 26% 81 Prev, 1938 igh. 60 22% Lambert Co (3).... 8% Lee Rub&Tire (50c) 89% Leh Port C pf (3%). 1% Lehigh Valley Coal. 5% Lehigh Val Coal pf. 5 Lehigh Valley R R... 67% Lehman C (12.40) . 10% Lehn & Fink (1%)._. 384 21% Lib-O-Ford GI1(1.20) 122 93% Ligg & Myers (14)B 167% 151% Ligg & Myers pf (7) 169 34 17% Link Belt (80c) ——o - 34% 24% Liquid Carb (11)-ea 1577 4 31% Loew's In (2)--emm 618 1 Loftlnc __ 2 1% Long Bell Lum ( ). 33 Loose-Wiles (2)___. -Wiles pf (7). 24% 18% Lorillard P (11.20). 1% % La Oil Ref (d)- 14% 4% La Oil Ref ptf (d) 19% 10% Louisv G&EpfA 1%. 47% 34 Louis&Nash(a2%). 23% 12% Ludlum Ste 130 35% 13 124 8412 45% 123 8% 4% 15% 28% 45% 8% 36 38 +2 41.3 471 45.1 378 475 3438 514 349 17% 113 McAnd & F pf (6) - 28 McCall Corp (2 7% McCrory Stores (d). 6% McCrory Strs B (d). 57% McCrory pf (d) . 36% Mclntyre Porcu (2) 90% McKeesport T P (4) 5% McKesson & Rob__. 32 McKesson & Rob pf. 8% McLellan Store! 18% Mack Truck (1) 30% Macy (R H)& Co(2) 5% Mad'n Sq Gar albe_. 18% Magma Copper (2)- 29 Man Elev gtd (d) . 22% 13% Man El md gtd (d) .. 15 10 Manhat Shirt (60c). 3 1 Maracaibo Oil Exp... 8% 5% Marine Midld (40c). 33% 20 Marlin-Rockwell(2) 11% 6% Marshall Field & Co 32 23% Mathieson Alk(1%) 47% 35% May Dept Str (1. W) 143 5',, Maytag Co___— 103 12 Maytag 1st pf ( 5% 3 Mengel Co 35% 24% Mesta Mach (133) 4% 2'; Miami Copper. 13% 9% Mid-Cont Pet(albc) 19's 8% Midland Steel Prod. 114 60% Midl'd Stl 1st pf(8). 111% 105 Minn Hon R pf (6)- 5% 3% Minn Moline Pw___. 57% 31 Minn Moline Pw pf_ 3 1% MStP&SSMlsin. 167 10% Mission Corp. - 6% 2'; Mo Kans & Texas_ 5% Mo Kans & Tex pf_. 1 Mo Pacific (d) 1'; Mo Pacific pf (7 10% Mohawk C M (a25¢) 55 Monsanto Chem(t1) 21% Montgomery Ward. 567 Morrel & Co (3.60) . 1% Mother Lode ___ __ 17'% Motor Products (3). Tix Motor Wheel (60c) - 7 Mullins Mtg_ 367 Mullins Mfg pf 13% Munsingwear Inc.. 4% Murray Corp.. —_— 11 Nash Motors (1) 413 Nat Acme Co 6% Nat Aviation . 22Y% Nat Biscuit (1. (0).. 13!2 Nat Cash Rx A(50¢) : 12% Nat Dairy Pr (1.20) 2 106'3 Nat Dairy P pfB(7) 1'3 Nat Dept Stores (d) 17 2315 Nat Distillers (2) 2 at En & Stpg (2 at Pw & Lt (80c) - t Steel (t1) +1 P+4++11 e+ + Nat Supply Co pf__. 4 Nat Tea (60c) 73 Natomas Co (80¢) .. 21% Neisner Bros (11).. 4312 Newberry J J(1.60). 4% Newport Industries 1813 N Y Airbrake_ 12 N Y Central RR 6 N Y Chicago & St L. 9% NYChi&StLpf__ 14 N 'Y Investors (d) . 2% N Y N H & Hartford 6 NYNH& Hartf pf 2% N Y Ontario & West 6's N Y Shipbuilding_.. 69 N Y Steam pf (6)_. 79 N Y Steam 1st (7). 30% Noranda Mines (2). 99 Norf & West pf (4). 2 North Am Aviation. 9 North AmCo (1)._. 35'; North Am Co pf (3) 57 North Am Ed pf (6) 21% 13% Northern Pacific.__ _— 1414 9% Ohio Oil (a16c) .. 4% 1 Oliver Farm Equip. 26% 13% Oliver FE prpf A. 513 33 Omnibus Corp . 77 75 Omnibus Cpf(8)A_. 7% 4% Oppenhelm Collins_ 22 11 Otis Elevator (60c). 125 106 Otis Elev pf (6) 12% 4% Otis Steel .__ 7612 22% Otis Steel pr pf_ 104 80 Owens-1ll Gll!sll) 36 T+++ 1 I++ 11 ++71 41 % 53t 97 15% 14 Pac-Amer Fisheries 26% 1314 Paclfic G & E (1% 43 19 Pacific Ltg (2.40)__. 21 12 Pacific Mills_. 112 70 Pacific Tel & Tel (6) 13415 111 Pacific T & T pt (6). 91, 6% Pac Wn Oil (b40c) 5% 3!3 Packard Motors._ 1% 1 Panhandle Pro & R. 5% 23 Par-Public cod (d)- 17% 11 Park & Tilford ... 6 2% Park Utah___ 1 12 Pathe Exchange._.. 17% 8 Pathe Exch (A)aeee 15 814 Patino Mines_ ... 15 3 Peerless Motor. 80% 57% Penney J C (2) 5% 2% Penn Coal & Col 5% 3 Penn Dixie Cement. 27% 17% Penn RR (1)_ 89% 30 PeoplesDS (11)-.= 43% 17% Peoples Gas Chi. 18% 9% Pere Marquette____ 241 13 Pere Marquette pf. 11% 7% Petrol Corp. 20% 12% Phelps Dodgt 45 23 PhilaCo 6% pf (3)- 4% 1% Phila & Read C&I... 53 35% Philip Morris (1)... 11 5% Phillips-Jones C__... 23% 13% Phillips Petrol (1) 6% 3 Phoenix Hosiery... % Pierce Oil : % Plerce Petroleum _. 31 Pillsbury F1 (1.60) - 7 Pitts Coal 515 Pitts Screw & Bolt._.. 221 Pitts Steelpf _____ 1% Pitts United Corp.. 24% Pitts United C pf... 6% Pitts & W Va. 1 Pittston Co_ 6% Plymouth Oil_. 6% Poor & Co (B) 1% Porto R Am Tob(A) 4% Postal Tel&C pf (d) 5 Pressed Stl Car (d). 42% Proc & Gambl (1%) 20% Pub Sve N J (2.40)_. 62% Pub Sve N J of (5).. 85% Pub Sve N J pf (T).. 34 Pullman Ing (3) e 5% Pure Oil 34% Pure Oil 6% Pf-ceee 49% Pure Oi1 8% pf._. L 1% 913 14% 6% 4 RadloCorporation. . 50 RadioC'ppfA (3%) 35% Radio Corppf B __. 1% Radio-Kelth-Or (d) 16% Raybestos-Man (1). 27% = % 29% Reading (2) = 20% Real Silk Hose f. 12% — % 1 Reis (Robert) 3‘5 5 Reis (Robt.) lllflv!_ # 7 Remington-Rand__. 21% + % 6 -1 10% — 14% + % 26% + % 10% + % REPORTS RK STO bmaumnm. A“O?,.m Low. GOII.OH' 16 15 10 12 80 20s 41 Nat Dept Strs pf(d)1390s 24 - 190: 8% Purity Bakeries (1) 95 5 29 26 2 1 80s 1 2 7 CORPORATION TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, August 8.—The fol- 22% + % | lowing is today’s summary of eorpora: 18% — % | tion news prepared by Standard Sta- 12% + % 20 - % 3% — 35 tistics Co., Inc. New York: \ American Airlines, Inc.—Company 801 + % transported 19,498 revenue passengers AUGUST 8, 1935. Prev. 1036 High. Low. 96 % 18% 69 22% 22% 22% — 10% 10% 10% + 92 24% 23% 61% 13 43% 46 21% 2 2% 11% 2% — 10% — 90% — 13+ 36 55% Reynol EFEEFE S8 ® FP % 35! 1211 121 160 160 121 160 31% - 32 11 @ |Ii+# +1 144 +++ 11 1021 50% 5 16% 25 94 21 64 1 % 46% 85, 14% 1T% 42 437x 1008 735 152 40% 2% 1 3% 1 11, 11% 34 23 14% 51 21% 46% 3618 53% 4% 26% Dn cash nnmlnu o .ux g_n:n of trady 1& et 0 10% — %! reorganized. x Ex 10% . _ Stockand Dividend Rate. Add 00. High. 71% Remington-R 1st pt 2% Reo Motor Car..... 9 Republic Steel.. 28% Republic Steel pf. 68% 28 Republic Stl pf cod. 75 RevereC & B pf___. 280s 17% Reynolds Metals (1} 8 12Y% Reynolds Sp (140¢c). 43% Reynolds Tob B (3) 29% Royal D 36% Safeway Stor 10% St Joseph Ld (40c). % St L-San Fran (6).. 1 StL-SanFrpf (d).. 17 6 Savage Arms... 2 22 Schenley Distiilers. 1% Schulte Retail Strs. 3 8 Schulte Re Strs pf_. 55 Scott Paper (1.80)_. b5 % Seaboard Air L (d)_ 20% Seab’d O Del (160c). 2 31 Sears Roel 1% Second Nat'l Invest. 2 40 Sec Nat Inv pf !2& 1803 7% Servel Inc 9 Sharon Steel Hoop 3% Sharp & Dohme____ 3 T% Shattuck(F G) (25¢) 3 5% Shell Union Oil 63% Shell Union Oil 8% Silver King cuoc)- 6 Simmons Co 5 Simms Pet (IEOE).- 6% Skelly Ofl__ 60 Skelly Oil Dl WWoee 13 Sloss-Sheffield .. 15% Snider Packing. Socony-Vac (30c)__ 20 Sou Porto R Sug(2) 10% South Cal Ed (1%). 12% Southern Pacific__.. 5% Southern Railway_ ‘l Southern Rwy pf___ Y Spang Chalf pf (12) 2501 3'4. Sparks-Withington. 4 T% Sperry vtc (aZ5c) . 85 Spicer Mg ... 33% Spicer Mfg pf (3)_. 43% Spiegel-May-Stern. 6 Spleg-May-S rts 13% Stand Brands (1) 21; Stand Com Tobacco. 113 Stand Gas & Elec__. 1% Stand G& E $4 pf__ 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 OiINJ (11) . 1212 Starrett(LS) (a25¢) 58% Sterling Prod (3.80) 65 Stewart-Warner. 2'3 Stone & Webster. 2% Studebaker Corp. 60% Sun Oil (11).. 1% Superior Oil_ 5 Superior Steel 31 Sweets Coof Am___ 14% Swift & Co (t50e) - 1% Symington (A)(d)-. U Steel pf (2)_ T'a _3'3 United Stores (A) 133% Univ Leaf T pf (8) - 29 Univ Pic 1st pfd _. Univ Pipe & Rad. Util Pw & Lt (A) 24% 17% Yale & Towne (60c) 2% Yellow Truck. 60% 315 Yellow Truck pf. 32% 18 YoungSp& W (t1). 4 13 Youngstown S & T- e e M e 4% 2% Zonite Products.___ 6 Approximate Sales of Stocks on the N. ¥. Stock Exchange. | sent 11:00 AM . 1:00 P.M. . Total sales for (ho hy‘ ividend rates as given in based on the Ilml. nunmn.y o half-yearly FINANCIAL/ Bales— Low. Close. onc- 93% 94 + % 3 17 65% 94 3% lB'/n -‘1‘6 GBV’ ¥ l% 28 — % 28% + % 60% — % 55 + % e -% 36 108 26 Tob (3) 12 103 10 38U — % 20 +1% 13 30s 'k(a75c). 153 22 112 1 110s 16 25 6% Telautograph (60c). 4 Tennessee Corp_. 161 Texas Corp (1)._ 28% Texas Gulf Sul (2). 3% Tex Pac Coal & Oil_ 2 Tex Pac Land Trust 13% Thatcher M (a50c)- 5% The Fair____ 2%; Thermoid Co 16 Third Nat In (a%e) 13% Thompson Products 1% Thompson Starrett. 7% Tide Wat Asso Oil_. 84 Tide Wat A O pt(6) | 106% 100 Tide Wat Oil pf (5). 9 4% TimKken-Detroit_ 28% Timken R B (11) 47 Transamerica(30c). T% Trans & Westn Air_ Transue&Williams. 1% Tri-Contl Corp 69 Tri-Contl Cor p! 41 Truax-Tra Coal. 3'3 Truscon Steel._ 18 Twin City RT p! 100% 100% + & 106‘u 1065 1'4 Ulen & Co_ 53% Und-Ell-Fisher (")4 29 Union Bag&Pap (2) 44 UnCarb&C (1.60)- 14%, Un Oil of Cal (1) 8215 Un Pacific (6) - 79'%; Un Pacific pf (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. 113 United Corp. - 20% United Corp pf (I).. 8% United Drug.__. 4'z United Dyewood. 3% United Elec Coal. T1% United Fruit (3) 9% United Gas Imp K % U S Distributing__. 413 U S & For'n Secur__. U S Freight (1) . 40'; U S Gypsum (1) 1575 143 U S Gypsum pf (7)- 5 US Hoffman___ 35% U S Ind Aleohol (2). 31 U S Leather vtc____ 7'z U S Leather A vtc_. 22 14% USPipe & F (50¢c)-. 7 3 USRealty&Imp__. 9% U S Rubber___ 24'3 1J S Rubber 1st pf 95 U SSmelt & R (a6)- 104% -1 421 100% 13 Vadsco Sales Corp 11% Vanadium Cory van Raalte (a25 ick Chem (12). Car Chemical_ 1712 Va-Car Chem 6% pf 26% Walgreen Co (1. 281 Ward Baking pf (2) 214 Warner Bros Pic_ Warner Bros Pic pf. 2% Warren Bros._. 7% Warren Bros cv pf_. 20% Warren FAy&P (2)- 4 Webster Eisenlohr_ 3015 Wesson O&S (150c) 72 Wesson O&S pf (4)- 36 West Pa Elec pt (6) 39% West Pa Elec pf (7) 5% Western Maryland... 2% Western Pacific pf. 20% Western Union_ 18 West'gh'se A B 50c_ 323 Westinghse El a50c. 10 Weston Elec Inst_ 16% Westvaco Chi ‘40¢). 14% Wheeling Steel 46% Wheeling Stl pf(31) 6% White Motor_. 131 White Rk M §(1.40) 6 White Sew Mch pf_. 1 Wilcox Oil & Gas__. 3% Wilson & Co (a25¢). 58 Wilson & Co pf (6)- Woolworth (2.40) . x 22 11% Worthington Pump. 3 25% Worth Pump pf A_. 130s 20 Worth Pump pf B 1 35% Wright Aero__ 39 11 38% —1% 30% + W 49 +1 24 3% 57 311 — % 26% +1% e + W 50 24% 3% 320,000 12:00 Noon. 900000 2:00 P.M.. 1. 430 000 the snnual than 100 shares. + Annual fl‘fi. \den Palc ‘cmmaun ds. Puid enis year, nr-m in July, 1935, setting a new high rec- ord. Including non-revenue passen- gers, total reached about 21,000. Bucyrus-Monighan & Co.—Class A share earnings, six months ended June 30, were $3.02 vs. 89 cents. Alaska Juneau Gold Mining Co.— Estimated profit before depreciation, depletion and Federal taxes for July was $95,000, against $190,300 in July, 1934; in seven months profit was esti- - | mated at $1,049,600, vs. $1,394,750. American Power & Light Co— Kilowatt system input of subsidiaries in week ended August 1 increased 32.2 preceding week gain was 27.6 per cent. American Water Works & Elec. Co.—Common share earnings, 12 months ended June 30, were 87 cents, vs. $1.38. June net after taxes was $1,872,365, compared with $1,852,963 in June, 1934. Electric Power & Light Corp.—Kilo- watt system input of subsidiaries in week ended August 1 increased 7.4 per cent over like 1934 period. In the preceding week gain was 7.1 per cent. | flome:l Pennsylvania Electric Co.—Net in- come, 12 months ended June 30, was $1,503,183, vs. net income of $1,- per cent over like 1934 period. In the 682,402, CK: EXCHANG ESTICKS MOVE UP . IN BUYING WAVE Merchandise, Steel, Avia- tion and Specialty Issues Dead Advance. What Stocks Did. Thrs. Wed, Advances 244 Declines Unchanged - Total BY VICTOR EUBANK, Associated Press Financial Writer. NEW YORK, August 8.—Buying tendencies ruled in today's stock market, with merchandise, steel, avia- tion and specialty issues leading the upturn. A number of new highs for the year or longer were registered, although the majority of rails, motors, utilities and oils were little better than steady. The close was firm. Transfers ap proximated 1,450,000 shares. The news was somewhat mixed. Bank clearings for the week ended yesterday totaled $5,596,320,000, up 36.9 per cent above the aggregate for the corresponding week of last year to a peak level since 1931. General Motors reported sales to consumers in' July amounted to 108,645 units. against 137,782 in June and 101,243 in July a year ago. Hog prices at Chicago spurted be- yond the $12 per hundredweight mark, a new six-year top. At the same time cotton tumbled following the Government's crop estimate of larger production than had been anticipated. Grains were also soggy. Bonds were fairly steady. Foreign exchanges showed small variations. Shares of Union Pacific ran away from the rest of the carriers with a recovery of about 2 points. Other equities up 1 to 2 or so included Sears-Roebuck. Montgomery Ward, Macy, Aliied Stores, Bethlenem Steel preferred and common, Republic Steel preferred, United States Steel pre- ferred, Douglas Aircraft, United Air- craft, Electric Auto-Lite, Johns-Man- ville, United States Gypsum, Case, Westinghouse and Western Union. Small advances were shown by Gen- eral Motors, Chrysler, Consolidated Gas, United States Steel common, Santa Fe and New York Central. The market got away to a rather slow start, but selective demand be- gan to assert itself in the second hour. Profit-taking was little in evidence and the more active gainers finished around their best for the day. issues_ - 789 ew York Cotton By the Associated Press. NEW YORK, August 8.—The Gov- ernment cotton crop report placing the indicated yield at 11,798,000 bales, or about 300,000 bales above average ex- pectations, sent the New York futures » | market down about $1.50 & bale today. An initial decline of about § to 25 points from the best levels of the morning was followed by slight rallies, but Washington advices unsettled sen- timent as to probable new-crop loan policy and prices later broke to new low ground for the day and movement, October sold off from 11.41 to 11.02, with the market in the late trading showing net losses of about 26 to 31 points. Futures closed steads. October December January March “ny - Jul; 13-21 lower Bleachable cottonseed oil futures closed easy. September, 9.75; Octo- | ber, 9:78b; December, 9.64; January, 9.65b; March, 9.74b. Sales, 135 con- tracts, including 2 switches. b—Bid. New Orleans Prices. NEW ORLEANS. August & (7 —Cotton futures closed steady at net declines of 16 to 24 points. Open. High. Low. Close. October __ i7 07 December 4 2 January March May __ July 10.96 10.94 10.93 20 1080 Liverpool Quotations. 1.4 OOL. August & #).—Cotton. 10,000 bales, “including 4.300 American | Spot increased in demand: prices 6 points Jower; quotations in pence. ~American strict go0d middling, 7.13; good middlin 6.83: strict middling. strict low middling. Ocrober 5.89; 6.04: March, 5.85; December, May. 5. Chicago Grain By the Associated Press. CHICAGO, August 8.—Selling that was largely to prepare for any sur- prise in tomorrow’s Government crop report led to lower prices for wheat most of the time today. Hedge selling against the domestic wheat harvest movement was also in evidence. On the other hand, crop advices from Canada were increasing- ly unfavorable. Wheat closed unsettled, (-7 under yesterday's finish, September, 90'ga 90%; corn unchanged to 34 lower, September, 754a75!2; oats, 's-l2 off, and provisions unchanged to 50 cents down. WHEAT— Open. September _ h. Low. Ao Close. 00 Ya- iy 134-92 03 September December _ 43 Chicago Cash Market, Cash wheat, No. 2, red, 91)2; No. 2, hard, 1.03%: corn, No. 2, yellow, 85a 85%; No. 2, white, 85. Oats, No. 4, te— | White, tough 29; No. 2, white, 33%2; No. 3, white, 31%a33; No. 4, white, 30%a 31%; sample grade, 27a29%; no rye, buckwheat or soybeans; burley, nom- inal, feed, 34a45; maiting, 42a53; timothy seed, 3.10 nundredweight; clover seed, 11.00a17.00 hundredweight. Liverpool Grain Prices. LIVERPOOL. August 8 (».—Wheat fu- tures closed easy. Previous ose. close. BALTIMORE. August & (#.—(Close), No. 2 ted Winter. garlicky. spot, Ausum. 80%. ¥ NEW YORK BAR SILVEB. NEW YORK, August 8 (#)—Bar silver quiet, unchanged at 67%.