Evening Star Newspaper, August 26, 1935, Page 14

'K—l4 ok e FI NANCIAL. THE EVENING STAR, WASHINGTON, D. C., MONDAY, AUGUST 26, 1935. FINANCIAL. [}HAPI[RI[][,‘W[ TRANSACTIONS ON THE NEW YORK STOCK EXCHANGESI[][;KSR[MMN A.1. B. DIPLOMAS % Capital Group Will Hold An- nual FAll Open Meeting September 9. BY EDWARD C. STONE. ‘Washington Chapter, American In- stitute of Banking. will hold its an- nual Fall open meeting at the Willard Hotel Monday evening, September 9, when commencement exercises, in- eluding the awarding of diplomas, will take place, it was announced today. The certificates will be presented to those students who completed their pre-standard and standard courses during the last year. The honor stu- dents in each of these groups will be presented with prizes also. These prizes are made possible by the C. J. Bell Fund and by a donation of the ‘Washington Clearing House. In addition, Miss Alice H. Whitton, president of the Bank Women's Club of Washington, will, on behalf of her arganization, present a prize to the girl student who received the highest average inythe eight standard courses. Robert A. Sisson, last year's chairman of the Athletic Committee, will present the W. W. Spaid Trophy to Aubrey O. Dooley, winner of the year's golf tournament. The speakers will be Raymond B. Dickey, dean of the faculty, and Charles H. Doing. Washington Loan & Trust Co., president of the District of Columbia Bankers' Association. J. Earle McGeary, W. B. Hibbs & o president of the local chapter, will preside. The graduates who will re- ceive Standard certificates: Smith Blair. jr. Washington Loan | & Trust Co.: Eugene F. Case, Riggs | National Bank: G. Norman Cobb, Vienna Trust Co.. Vienna, Va.; Brice D. Duckett, Prince Georges Bank & | Trust Co. Hyattsville. Md.; Ward W. Fleharty, Second National Bank: John Mathews Harris. Anacostia Bank: C. William McCormick, Division of In- golvent —anks, Treasury Department: George H. Mvyers. Riggs National Bank: T. Grant Ridgely. City Bank; Miss Mary Louise Sweeney, Hamilton | National Bank. Radio Hook-Ups Planned. More than 200 chapters of the American Institute of Banking sec- tion of the American Bankers' Asso- ciation in towns and cities through- out the "nited States will hold their | annual commencement exercises at | the same hour and will be joined to- gether by a ion-wide radio hook-l: up. it is an ced by Maynard W. E. Park. president of the institute. | s are in charge of Earl V. Newton of the Cleveland Trust | Co. as chairman of the Radio Com- mencement Committee. The exercises will be featured in the various chapters by talks, the presen- | tation of diplomas to this year's insti- tute graduates. numbering about 2,500 1n all, and by the reception of a Na- | tion-wide broadcast of an address by | Dr. Rufus B. von KleinSmid, presi- dent of the University of Southern | California, on “A Challenge to Adults.” Bankers Study Security Law. ‘Washington bankers are faced with @ new problem—that of meeting the | financial requirements placed upon | them by the social security act. While the bill was pending in Congress mem- | bers of the District Bankers’ Associa- tion discussed the matter freely at the | weekly luncheons. Now that the bill | has been passed officials must soon | take steps to make the payments called for from corporations and also make certain deductions from pay yolls. As employers of eight persons or more come under the new regime, &1l the banks in the city are included. | As is the case with other large em- | ployers, bank officials must collect a stated percentage from the pay of em- | ployes after December 1, 1936, and turn the funds over to the Govern- | ment. While the percentages of sal-| aries and wages are not large, yet they | nvolve a lot of additional bookkeep- ing. Accuracy is also to be held of great importance. In 1937, 1938 and 1939 the banks must collect 1 per cent of the wages paid employes: in 1940, 1941 and 1942, | 115 per cent: in 1943, 1944 and 1945 | the rate is to be 2 per cent; in 1946, | 1947 and 1948, 2': per cent, while after December 31, 1948, the rate is to be 3 per cent. Employers to Collect. # The social security act ‘states that the tax imposed on employes must bei collected by the employer by deduct- | ing the amount of the tax from the | ‘wages as and when paid. If more ol less than the correct amount is de- | ducted, proper adjustments are to be made, without interest, in connection with subsequent wage payments to the same individual by the same em- ployer. | It is probable that auditors in the banks here will get together and work out the best method of handling col- lections and keeping the records. This was the way the Government's 2-cent | tax on bank checks was handled, the | plan being widely adopted by many other banks 21l over the country. The new security law is now being | closely studied by leading bankers in this city, the text of which covers 32 pages of fine print. To master the; technicalities of such an intricate law | 1s no small ‘ask. Trade Here Best in Area. | In detailed trade comparisons the\ Federal Reserve Bank of Richmond reported today that retail business in Washington in July led the district. ‘The gain of 27.2 per cent, compared with 10.4 per cent in Richmond, 84/ in Baltimore, 7.9 per cent in a group | of pther cities and 16.1 per cent as the fifth district average. For the first seven months of this year tradé in Washington was up 13.9 per cent, 4.3 per cent in Richmond, 15 per cent in Baltimore, 3.4 per cent in a group of other cities and 7.1 per cent in the whole territory. ‘The summary includes retail sales in 31 department stores. Stocks on hand at the end of July averaged 8.8 per cent lower in the 31 stores than at the beginning of the month. Stocks averaged 3.1 per cent lower than were held in the stores at the end of July a year ago. Stocks in Washington stores were reduced 7.8 per cent-during July. The Richmond bank reported good eollections during the month, 28 per cent of receivables being paid in ‘Washington, with 28.5 per cent in the whole fifth district. Richmond made an extra good showing, 31 per cent. In the first seven months of the year stocks in Washington stores were turned 2,483 times.. The fifth dis- trict average was 2.243 times. Transit Stock Very Active. Capital Transit stock were very ac- tive on the Washington Stock Ex- change today. It opened at 165% and closed at 16%. Fourteen sales in- volved 120 share turnover. ‘Washington Railway & Electric 58 and Washington Gas 5s, 1960, were in demand at recent levels. By private Prev. 1935 Low. 32 Abr & Strauss (11). 51 Acme Steel (12) . 9% 4% Adams Express_.__ 33% 28 Adams Millis (2).. 14% 8 Addressog’h(albe). 13% 41 Advance Rumley. 83 6% Affiliated Pro (6 149% 1043 Air Reduction (+3 1% % Alr-Way Elec Appl. 20'% 15% Alaska Jun (160c).. 2% % Alieg Corp (d).____ 815, 23 Alleg pf w$30w (d). 30% 21 Allegheny St (1).. 165 125 Allled Chem (6) 7% 3% Allied Stores % 49 Allied Stores pf (5). 12 Allis Chalmers . _. 14 Alpha Port Cmt (1) 214 Amal Leather __ 4815 Amerada Corp (2). 41'; Am Ag Ch Del (2).. 30% 131 Am Bank Note 384 21 Am Brk Shoe (1) 1464 1104 Am Can (14)_ 10® Am Car & Foundry.. 25k Am Car & Fdry pf.. 66 Am Chicle (13)_ 613 Am Crystal Sugar.. 72 AmCrysS 1stpf 6. % Am Encaustic (d)_. 2 Am & Forelgn Pwr_ 12 Am& For Pw $6 pf 14 Am& For Pw $7 pf. 37 Am & For Pw 2d pf_ 2% Am Hide & Leather. 17 Am Hide& L pf "‘M Am Home Pr (2.40). " Am Ice — 415 Am International 1% Am La Fran pf «d). 9 Am Locomotive 32 "Am Locomotive pf 18'¢ Am Mch & Fy (80c) 41¢ Am Mch & Metal 1‘\' Am Metal 113 Am Power & Light. 8% Am Pw & Lt $5 pf__ 104 Am Pw & Lt $6 pf__ 1013 Am Radiator ____ 15% Am Rolling Mills _. 66 Am Safety Raz (5)_ 415 Am Seating vtc 20 Am Shipbldg (2) .. 31% Am Smelt & Ref 103 AmS&R 6%pf $13% 63 Am Snuff (13) _ 12 Am Steel Foundry_ 88 Am Stl Fdry pf (2). 51% Am Sugar (2) 1813 Am Sumat Tob (1) % Am Tel & Tel (9)__. 5 Am Tobacco (5) .. '« Am Tobacco B (5)... 9 AmTypeF pt (d). Ty Am Water Works__ 48 Am Wat W 1st (6)- 47y Am Woolen __ 3513 Am Woolen pf__ % Am Writ Pap (d) ___ 8 Anaconda Copper.. 1614 Anaconda Wire 12; Anchor Cap (60¢)-. 3'y Andes Copper___ 36 Archer Dan M (t1)- 31 Armour of Illinols . 5515 Arm’r (111)pr pf (6) 16's Armstrong Cork 500 4 Arnold Constable__ 715 Asso Dry Goods 807 Asso DG 1st pf($9). 29% Asso Ol (a80c) .- 35% Atch To&S Fe (a2). 665 Atch To&S F pf(5)- 1912 Atlantic Coast Lini Atlantic Ref (1) « Atlas Powder (2 4 Atlas Tack_ 15 Auburn Auto a4 49 62% T 57% 6% 26% 113 Baldwin Loco (d) - 713 Baldwin Loco pf (d) 17% 713 Baltimore & Ohio__. 22% 91 Baltimore & Oh pf_. 49'; 36l Bang & Aroos (23%) 115 106% Bang & Aroos pf(7) 31, Barker Brothers __ 32 Barker Brothers pf._ 57 Barnsdall Corp 371, Bayuk Cigar (t1)... 11% Belding-Hem (ab0c) 11% Bendix Aviation___. 15% Beneficial Lo (1%)- 34 Best& Co (2). i 21% Bethlehem Steel 55% Beth Steel pf(a1%) 14% Bigelow-San Corp... 9% Blaw-Knox _ 613 Boeing Airplane 39% Bohn Alum &Br 4!) 21 Borden Co (1.60) 28Y% Borg Warner (1%). 81, Bridgep't Brass 40¢ 2415 Briggs Mfg (2) . 2314 Briggs & Strat (3)_. 3 307 Bristol-Myers (12)_ 36% Bklyn-Man Tr (3).. 1% Bklyn & Queens____ > 43 Bklyn Union Gas(5) 53 Brown Shoe (3) ___ 3% Brunswick-Balke. 4% Bucyrus Erie 81 Bucyrus Eriecv pf_, 3% Budd(E G)Mfg 23 Budd(E G)Mfg pf. 21; Budd Wheel - 814 Bullard Co _ 3% Bulova Watch_ % Burns Bros(A)(d). 3 Burns Bropf (d). 18% 13% Burr Add Mch(60c) 31 1 Bush Terminal (d)- 2% 11 Butte Copper&Zinc. 1% % Butterick Co (d) 20% 11% Byers (A M).. _——— A2b7 30% California Pnnv.) % Callahan Zinc_ 215 Calumet & Hecla. 715 Campbell-Wy a40c._. 8% Can Dry G A (40¢).. 9% Canadian Pacific 45% Case (J 1) Co.. 361 Caterpillar Tr (11)- 19! Celanese Corp-. 17 Celotex Co (d) 385 Cerrd de Pasco 2% Certain-teed Pr pf. 4% Checker Cab Mfg__. 371 Ches & Ohio (2.80) 36 Chesapeake Corp(3) 7 Chi & East I11 pf (d) % Chi & Grt West (d). 1% Chi & Grt W pf (d)- 15% Chi Mail Order (11). % Chi Mil StP&P (8). % Chi M StP&P pt (d) 1% Chi & N W (d) 3% Chi& N W pt (d 4% Chi Poeumatic T u. Chi R 1&P 6% pf(d) 2 Chickasha C O (2) . 2 Childs Co Chile Copper - Chrysler Corp (1) City Ice&F pt(6%) 3% City Stores 12Y Clark Equip (BOc).. ! 275 Clev Graph Br (t1) 53% Coca-Cola A (3) P (50¢ Colgate-P-P pf (6) 9 Collins & Alkman 69% Collins & Alk pf (7) % Colo Fuel & Ir () 5 Colo F&1pf(d). .. 3% Col Gas & Elec 35% Col G & E pf A (6)_ 31 ColG&Ept (5)__.. 341 Colum Pic vte (1) 67 Colum Carbon (4)... 39% Comel Credit (2) 56% Comcl Inv Tr(12.80) 97% Comel In T pf(4% ). 17% Comel Solv (160¢c).. % Comw & Southern.. 29% Comw & Sou pf (3). 37% 27 Congoleum-N(1.60) 31 87 3% Consol Film 14% Cons Film pf($1%). 15% Consol Gas N ¥ (1). 72% Consol Gas pf (5) 1% Consol Laundries.. 6% Consol Ol1 1 Consol Textile 8% Container Corp (A) 2% Container Corp (B). 43 Cont) Baking (A) ... % Contl Baking (B)_.. 62% Contl Can (2.40) __ 7 Contl Dia F (a30c). 28% Contl Insur (11.20). % Contl Motors - 15% Contl O Del(a37%c) 108 1 - =3 ~hrensreonBalrarnnBrannnd cero~ o e ® w e 0 ot 17 28 41% Corn Ex BK&Tr (3) 280- 62 Corn Prod Ref (3).. 4% Coty Inc 35% Cream of Wh (12)_. 231 Crotn C&S (1)..... 14 Crucible Steel ... 47% Crucible Steel pf_.. 5% Cuban-Am Sugar... 22% 15 Curtis Publishing_. loflfi 89% Curtis Pub pf (7). Curtiss Wright ... ~8 14 58% 8 1 16% 1% 6 4 160% 61 1% 2% 16 3% 69% 53 27% 35% 138 21% 49% 904 144 18% 18% 106 105 3 2% tock Net. | High. Low. Dividend Rate. ~ Add 00. High. * %v Close. Chge. 45 58% 8% 0% + % 12% + % 18% + % -3 % THh - W% 143 + % 1% 17 + % 1% + % 6 —1% 261 + 1 153% +2% 'lm— % 2T% + % 6 —u 3% 69% + % 53% +1% & l+++++++ 41 L+++++ F +1+++ 10 18% 106 + 2% + t Prev. 10% 28% 27% 117“ 115 104 Duquesne Lt 1st(5) — 1038 nmum Rate. 6% Curtiss Wright (A) 16 Cutler Hammer____ 19 Deere&Co pt (375¢). 28% Delaware & Hudson 11 Del Lack & West.. 65 Detroit Edison 35% Devoe & R (11) 26% Diamond Mtch 11 34% Dlam Mat pf (fl%) 34'% Dome Mines (12)... 6% Dominion Stores 17% Douglas Alr (a75¢)_ 131 Dresser Mfg A bl 86% Du Pont (13.60)____ 3% Eastern Roll M1! 8 152 110% Eastman Kod (15).. 24% 29 12 107 8t 16% Eaton Mfg (1).. 19% Electric Auto Lite_. Elec Auto L pf (7). 3% Electric Boat_ 5% Elec & Mus In 1% Elec Pw & Lt 2}3 ElecPw & Lt § 3 Elec Pw & Lt $7 Dl 39 Elec Stor Bat (2%). % Elk Horn Coal (d) ... 52% Endicott-John (3)_. 132 125% Endicott-Joh pf('l)_ T 10 4“4 20% 121y 146 llflh 4 36% 4 2% 247 19} 93 5% 48 33 109% % 18 5 29'3 22% 13 32% 140 55 55% 9 26 —ee 34 i 96 108 2% 128 4% 1174 25\ 85% 128 122 15% 19% 681y 3% 56 5y 12% 3% 17% 33 89% 5 19% 3 8% 5 1% Engineers Pub Sve. 14 Eng Pub Sve $5 pf... 14% Eng P 8 $5.50 pf ww 15! Eng PubSve$6 pf_. 415 Equip Office Bldg-. ThErfeRR _ 815 Erfe R R 1st pf_ 10% Eureka Vac C (80¢) 15 Evans Prod (al) 2 Exchange Buffe 4 Fairbanks Co pt 17 Fairbanks Morse.. 5% Fed Lt & Tr 40 Fed Min & Smelter_. 3% Fed Motor T (allc). 2 Fed Screw Works.__. 7% Fed Water Sve (A). 1614 Fed'd D Strs (160c). 1314 Firestone (40c) 8413 Firestone pf A (§) . 45% First Nat Strs (2%) 2% Follansbee Bros(d). 9% Foster- Wheeler __. 60% Foster-Wheeler pf 19% Four Nat Iww al.10 8% Fox Film (A) 17% Freeport-Texas (1) 7 Gabriel Co (A) - 53 Gen Am Investors__ 32% Gen Am Trans(1%) 11% Gen Asphalt 7% Gen Baking (60¢) ... 115 Gen Baking pf (8).. 5% Gen Bronze. 4 Gen Cable (A) 20% Gen Electric (60c) .. en Mills (3) 26% Gen Motors (12) .. 107!2 Gen Motors pf (5)- 3 Gen Outdoor Adv_. 17% Gen Print Ink(1.60) 1} Gen Public Service_ % Gen Realty & Util.. 16% Gen Refractories__. 12 Gillett Saf Ras (1)~ 7015 Gillett Saf R pf (6). 1047 Glidden Co pr pf 14 Gobel (Adolf) (). 14% Gold Dust (1.20) ... T'3 Goodrich (BF). ... 40 Goodrich (BF) pf_. 15% Goodyear T&R .- 70 Goodyear $7 pf (4)_ 214 Gotham Silk Ho 20 Gotham Silk H pf... 1% Graham-Paige 5% Granby Consol__— 21 Grand Union 18'a Granite City Stl (1) 9% Grt Northern pf 9% Grt North Ore (50c) 26% Grt West Sug (2.40) 119 Grt West Sug pf(7) 84 Greene Canan (12)- 20 Greyhound Corp. 4 Gulf Mobile& N___. 6 Gulf Mobile & N pf_ 30 Hack WpfA (1%)- 4 Hall W F Printing. 63 Hamilton, Watch pf 101 Hanna (M A)pf(7). 16 Harbison Walk (1). 5% Hat Corp of Amer. 1% Hayes Body. _ 85 Hazel Atlas GI ()= Hercules Mot (60c) Hercules Pw (13) _ Hercules Pw pf (7) 5% Holland Furnace.. . 4 Houdallle-Hersh B 49 House Finpf (3%)_ 11 Houston Ol (new)_ 43 Howe Sound (3) __. 2% Hudson & Manhat__ 6% Hudson Motor Car. % Hupp Motor: 1 915 I1linois Central . 2315 [ndus Rayon (1.68). 46'% Inland Steel (2).. 214 Inspiration Copper. 8% Interboro R T (d)_ 15 Intercontl Rubber_. 4% Interlake Iron__. 2% Int Agricultural 1847 149% Int Bus Mdch (16) % 33 55% 4n 314 29% 3 1% 1% 12% 36% 484 5% 12% 16% 67 67% 82% 21% 21% 18% 24 26% 69% 324 27 85 244 34 34% 444 1% 3% Int Car'rs Ltd (20¢) 227 Int Cement (1) 341» 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 (B). % Int Paper & Pw (C). 4% Int Paper & Pw pf_. 604 Int Silver pf (4) 5% Int Tel & Tel 87 Intersttae Dep Strs. 49 Jewel Tea (3) 3881 Johns-Manv (ab0c). 50 Jones&Laugh7%pf 15% Kayser (J)&Co a30c. 3% Kelsey-Hayes (B)_. 11% Kelvinator (160c) - 13% Kennecott C (60c) 19% Kresge (S8) (1)___ 56% Kress (S H) (11)... 22% Kroger G&B (1.60). 12 LacledeGasStL.__. 22% Lambert Co (3) 815 Lee Rub&Tire (50c) 5% Lehigh Val Coal pf. 5 Lehigh Valley R R_ 67% Lehman C (12.40) .. 6% Libby McNeill & L. 2135 Lib-O-Ford G1(1.20) 21 _Life Saver (1.60)__. 173 Link Belt (80c) ____ 2415 Liquid Carb (+1)_— 31% Loew’s In¢ (2) -eeee 1 Loftine .. ... 1% Long Bell Lum ( 2% 130 121% Loose-Wiles pf ). 25 1% 22% 24% —_— 35% 13 12% 45% 8% 4% 18% Lorillard P (11.20). 3 La Ol Ref (d) ... 10% Louisv GEEpfA 1%. 12% Ludlum Stee! 28 McCall Corp (3).__. 7% McCrory Stores (d). 61 McCrory Strs B (). 36% Mclntyre Porcu (2) 5% McKesson & Rob .. 32 McKesson & Rob pf 10 Manhat Shirt (60c). 5% Marine Midld (40c). 3% Market St Ry pr pf. 6% Marshall Field & Co 23% Mathieson Alk(13%) 35% May Dept Str (IJO) 5% Maytag Co __. 41 Ihlvu.ln Shoe (2 lj) 3 Mengel Co - 20% Mengel Co pf. 2434 Mesta Machine (2)_ 2% Miami Copper. .. 93 Mid-Cont Pet(a15¢) 8% Midland Steel Prod. 3% Minn Moline Pw___ 1% MStP&SSMisin. 10% Mission Corp. - e 2% Mo Kans & Texas... 5% Mo Kans & Tex pf_. 10% Mobawk C M (a2be) 55 Monsanto Chem(t1) 21% Montgomery 56% Morrel & Co (3.60) . % Mother Lode.oceea. , 3 m 49 8% 1 28 81% + % 21% lZOK +4% 5% 65 120% 208 114% 114% 114% = W .Y 1149 149 149 32 24% 283% 68 27% 27 20s 110% 110% 42 8 8 Nes. + % 24% +1 27% +1% 110% + % 11441 [++1 % & T+l +00 0+ 1+++++ L+l +++ Prev. 1938 Low. 174 Motor Products (3). 9 7i4 Motor Wheel (60c)- 1 9% Mullins Mfg (A)-_. 3 9% Mullins Mfg (B)_. 4 4% Murray Corp___ 154 30 MyerF E&Co(1.60) 1 11 Nash Motors (1)... 31 3 224 Nat Biscuit (1. 13% Nat Cash Rg A(50¢) 17% 12% Nat Dairy Pr (1.20). 24 109 103 Nat Dairy pf A (7). 10s 4% 1% Nat Dept Stores (d) 7 34% 17 Nat Dept Strs pf(d) AU. 29% 23% Nat Distillers (2)._. 321% 21 Nat En & Stpg (2 185 145 Nat Lead (5)_.____. 14% 4% Nat Pw & Lt (80c)_ 67% 40% NafSteel (11). 20% 9 Nat Supply Co.. 36 Nat Supply Co pf. 8% Nat Tea (60c) _ 7% Natomas Co (80 43% Newberry J J£1.6! 4% Newport Industries 124 NYCentral RR... 6 NYChicago& StL. 9% N Y Chi & St L pt. 4 NYDockpf 2% N Y N H & Hartford 6 NYN H& Hartf pf %4 N'Y Rwys pf (d) - 6 N Y Shipbuilding _ 70 N Y Shipbldg pf(7). 10s 100 79 N Y Steam 1st(7)_. 10s 43 30% Noranda Mines {2)_ 4 188%4 158 Norfolk & W (18) _ 1 108 99 Norf& Westpt (4). 20s 4% 2 North Am Aviation. 15 244 9 North Am Co (1) 286 53% 351 North Am Copf (3) 1 s Northern Pacifis 20 1 157 13 16% 87 14% 214 8% Bly & 80% 104 94 Ohio Ol (a15¢) 16™ Oliv Farm Eq(new) 3's Omnibus Corp ~ 4% Oppenheim Collins. 11'x Otis Elevator lGOc) 8 4% Otis Steel ___ 22% Otis Steel pr pt 80 Owens-I1l Glass(4)_ 14 Pac-Amer Fisheries 13% PacificG& E (1%). 19 Pacific Ltg (2.40) .. 6% Pac Wn Oil (b40c)_. 313 Packard Motors ___ 10% Pan American Pet__ 1; Panhandle Pro & R_ 2% Par-Publie cod (d)_ 11 Park & Tilford. 24 Park Utan = _ 12 Pathe Exchang: 8 Pathe Exch (A)_._. 8% Patino Mines _____ 6415 Penick & Ford (3)__ 574 Penney J C (2) 2% Penn Coal & Coke _ 3 Penn Dixie Cement. 17% Penn R R (1) 30 PeoplesDS (11)___ 17% Peoples Gas Chi 9% Pere Marquette ___ 13 Pere Marquette pf._. 161, Pere Marq pr pf. 14y Pet Milk (1) % Petrol Corp. 12% Phelps Dodge (a25¢) 23 Phila Co 6% pf (3)_ 313 Phila Rap Tr pf(d). 1% Phila & Read C&1... 35% Philip Morris (1) 13% Phillips Petrol (1) 3 Phoenix Hoslery.. % Plerce Ol 31 Pilisbury F1 (1.60 . 72 Pirelli (A)(a3.84)__ 7 Pitts Coal - 172 Pitts FW&C pf (7)_ 5 Pitts Screw & Bolt_ 1% Pitts United Corp._ 24'5 Pitts United Cpf__. 613 Plymouth Oil __ 61 Poor & Co (B) 1% Porto R Am Tob(A) 4% Postal Tel&C pf (d) Pressed Stl Car'(d) 615 Pressed Stl C pf (d) 42% Proc & Gambl (1%) 20% Pub Sve NJ (2.40).. 62% Pub Sve N J pf (5).. 34 Pullman Ine (!) 19 28 1T 28% 44% 11% 5% 12 1% Bt 1% 6 13 14% 8% Purity Bakeries (1) 7% 4 RadioCorporation. 129 50 RadioC'DDIA (3%) 2 35% RadioCorppfB.__ & 1% Radio-Keith-Or (@) 31 16'4 Raybestos-Man (1) 29% Reading (2) 20 Real Silk Hos 1 Reis (Robert) 7 Remington-Rand__ 71% Remington-R 1st pf 70 Remiagton-R 2d pf 69 Remington-R pf (6) 22% Remington-R pr pf_ 24 Reo Motor Car 9 Republic Steel 28% Republic Steel pf _ 28 Republic Stl pf cod 75 RevereC&Bpf.__. : 17% Reynolds Metals (1 % 101 Reynolds M ot (5% 121 Reynolds Sp (140c) 434 Reynolds Tob B (3) 46 36% Safeway Stores (3) 14 113% 104% Safeway Strs pt (6) 21% 10k St Joseph Ld (40c)- 22 Schenley Distillers. 1% Schulte Retall Strs. 20% Seab'd J Del (t60c) 31 Sears Roeb’k(a75c) 114 Second Nat'l Invest. 40 Sec Nat Inv pf 32%. 7% Servel Inc - 9 Sharon Steel Hoop.. 3% Sharp & Dohme ___ T% Shattuck(F G)(25¢) 513 Shell Union Ofl.__. 6314 Shell Union Ofl pf__ 8% Silver King C(40c). 6 glmmnn! Co o 5 Simms Pet (a30c) 6% Skelly O11 24 Sloss-Sheffl Pl 15% Snider Packing_ ... 11 Secony-Vac (30c)._.. 20 Sou Porto R Sug(2) NINE BANKING OFFICES OPEN IN SEVEN STATES Special Dispatch to The Star. NEW YORK, August 26.—Nine new banking offices were opened in seven States during the past week, accord- ing to this week’s Banking Market, issued today by Rand McNally Bank- ers’ Monthly. The new banks, which include four entirely new offices, four new branch offices and one reopened bank, are I cated in the States of California, Georgia, Missouri, Nebraska, Ohio, Oregon and Wisconsin. The bulletin also reports two changes in title and location and five 14 | discontinued banking offices. 28% PHILADELPHIA PRODUCE. ELPHIA. August 26 (.—Live Plnnoulh Rock Panc: s, horns. ens. 21 ang crooked breasts, Pekin. fancy. Spring mixed colors, 9al0. Dressed pnultr! Western, ‘Western. r1 plclnd ‘Western. dry _picked. ducks. Long Island, 15. i old, 10all; fresh killed, b chickens, 22a29: old roosters. 15%a17%: Spriag WOOL SUITS REORDERED. YORK, August 26 (#).—Al- though the retail dress business has been slow in getting under way, quite & number of reorders have been re- ceived for wool costume suits retail- ing up to $49.50. S - FREEE - FLOUR BUYING EXPANDS. NEW YORK, August 26 (#)—Flour BEFER FF mn«nam AM 00. High, 40% ‘ 30s 109 108y 37 22u 1% 10% 341y Nes, Prev. 16356 High. Low. 11 3 1% 5% 19% 2% 9% 5% 3% 36% 8% 124 2614 58% 1% 79" 9% United 4! United 20% United 46 United 65 9% United 1 53% Und-Ell-Fisher (2). 29 Union Bag&Pap (2) 44 UnCarb & C (1.60). 14% Un Oil of Cal (1). 821% Un Pacific (6) - 9% + 4 Un Pacific pf (4) 2+ 4| 20% Un Tank Car (1.2 3 Stock and Dividend Rate. Md 00. High. 10% South Cal Ed (1%). 12% Southern Pacific_. 5% Southern Rallway.. 7 Southern Rwy pf._. 15 So Ry M&O ctfs (4) 5 Spalding (AG)_.__ 42 Spalding(AG)1st pt 59% Spang Chalf pf 33 3% Sparks-Withington 65 Spear & Co 1st pf. T% Sperry vtc (a25¢). 8% Spicer Mfg. 43% Splegel-May -Stern. 13% Stand Brands (1) _ 120% Stand Brands pf (7). 2% Stand Com Tobacco. 1% Stand Gas & Elec... 1% Stand G& E $4 pf__ 4% Stand G& E$6pf__ 6 StandG&ES$7pf__ 27% Stand O of Cal (1) 23 Stand Ofl of Ind (1) 35% Stand O1I N J (t1)._. 12 Starrett (L S) (1) . 58% Sterling Prod (3.80) 6% Stewart-Warner 215 Stone & Webste: 2% Studebaker Corp. 115% Sun Oil pt (6) 1% Superheater (50c)-. 1% Superior Oil. 5 Superior Steel._ 3% Sweets Co of Am 14% Swift & Co (150e) 1% Symington (A)(d)_ — 6% Telautograph (60c) 4 Tennessee Corp_. 161 Texas Corp (1)____. 28% Texas Gulf Sul (2). 3% Tex Pac Coal & O11 81 Tex Pac Land Trust 13% Thatcher (1) 50 Thatcher M pf(2.60) 5% The Fair __ 213 Thermold Co 13% Thompson Products 1% Thompson Starrett. 7% Tide Wat Asso Oil . 84 Tide Wat A O pf(6) 26% Tide W Low. Close. cn:t 20% 21% + % 19% 19% + % 8% 9 +% 12% 12% + % B2 o 631% 92 4 12 12% 10% 67 12 127 A% 68% 93% +1 4 72 12% + % 10% — % 6% + % 1% — 4% 6 at O (a8ic) - STEADY T0 FIRM Steels, Motors, Aircrafts and Coppers Provide Main Support. STOCK AVERAGES 30 15 15 80 lndm Rails. Ulhl Btks. Net change. +.8 +.3 +4 +86 256 385 Today, close*65.8 484 Pfev. day... 650 253 36.1 47.8 Month ago.. 645 259 34.1 472 272 291 394 276 39.3 49.1 185 216 348 43.0 406 1934 high__. 614 514 228 242 1934 low. 453 349 1932 low. 175 8.7 239 169 1929 high___146.9 153.9 184.3 157.7 1927 low.... 51.6 953 618 6.8 (Compiled hy the Associated Press.) *New 1935 high. BY VICTOR EUBANK, Associated Press Pinancial Writer. NEW YORK, August’ 26.—The stock market crept cautiously higher today with steels, motors, coppers and air- craft shares providing the main source of support. Rails and utilities became & bit wobbly during the final hour. The closing tone was steady to firm. Sales | approximated 1,400,000 shares. 4% Timken-Detroft _. 28% Timken R B (11) 47 Transamerica(30c). 7% Trans & Westn Air_ 5% Transue&Williams. 1% Tri-Contl Corp - 69 Tri-Contl Cor pf(6) 4% Truax-Tra Coal.. 315 Truscon Steel " 'u w 5| +115 + 3% + 1 Afrcraft____ n Alr Line vte 1 Bise (1.60) United Carbon 2.40. 11 United Corp .. 20% United Corp p! (l)_ 8% United Drug_. 4'3 United Dyewood . Dyew pf (7) « United Elec Coal... United Fruit (3).._ Gas Imp (1) % U S Distributing.__ 5 U S Distributing pf 42 US & For'n Secur__ U S Freight (1) 40% U S Gypsum (t1) _. 35% U S Ind Alcohol (2) 743 U S Leather A vte__ 14% U S Pipe & F (50¢c)_ 3 US Realty & Imp_. 9% US Rubber _______ 24'3 U S Rubber 1st pf__ 95 USSmelt&R (a6) 7% U S Steel .___ - 3% U S Steel pf (2) .. 3la United Stores (A)._. 51 Univ Leaf Tob (12) 1 Univ Pipe & Rad 9% Univ Pj pe & Rad pf 1 Ul Pw&Lt (A) 1w 13 Vadsco 25 27% 17 Va-Car Ty 34 Sales Corp.. 21% 11% Vanadium Corp .. 11% Van Raalte (a2ée).. 38% 34 Vick Chem (12)___ Chem 6% pf 44 Waldorf Sys (b20c) 26% Walgreen Co (1.49). 1% Walworth Co.. 7% Warren Bros cv pf_. 20% Warren FAy&P (2). 30'%s Wesson O&S (150c) West Pa Elec (7)A : 36 West Pa Elec pt (6) 397 West Pa Elee pf (1) 95° West Pa Pwr pf (6) 1041 West Pa Pwr pf (7) 5!y Western Maryland. 20% Western Union____ 18 West'gh'se A B 50¢ 32% Westinghse El a50c 90 10 141 West'h: Weston Elec Inst__ Wheeling Steel se 15t pf 3% 46's Wheeling Stl pf(31) 67~ White Motor 6 3% Wilson 58 Wilson 2115 51 1% 10% 3;L. 351 Wright 25% 49 67 5% 4% Approximate Sales 11:00 A.M.... Dividend rates declarations. plus extra. last year reorganized. sales for the day. s Unit of trading less than 100 shares. 3 Accumulated dividends. d Companies x Ex dividend. 13'; White Rk M S(1.40) 1% White Sewing Mch_ White Sew Mch pf_. & Co (a2ic). & Co pf (6). Woolworth (2.40)__ 11% Worthington Pump. 2512 Worth Pump pf A—_ Aero___ 17% Yale & Towne (60¢c) 2% Yellow Truck. 313 Yellow Truck 28% 13 YoungstownS& T. —_—— 1% Zenith Radio._. 2% Zonite Products of Stocks on the N. Y. Stock Exchange. 440,000 12:00 Noon 680,000 900,000 2:00 P.M. 1,090 000 1.460,000 s given (n the above table are the annual cash payments based on the latest quarterly or half-yearly a Paid this year. b Paid reported in receivership or being CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS NEW YORK, August 26.—The fol- lowing is today's summary of corpora- tion news, prepared by Standard Sta- tistics Co., Inc., New York: Chrysler Corp.—Retail deliveries by Dodge dealers of Dodge cars and trucks and Plymouth passenger cars for week ended August 17, totaled' 7,386 units, against 7,492 in previous week. Spang, Chalfant & Co. declared a dividend of $1.50 on 6 per cent pre- ferred stock on account of accumula- tions; on July 1, 1935, a dividend of $1 a share was paid on this issue; giving effect to current distribution, arrears on 6 per cent preferred stock amounted to $17 a share. American Smelting & Refining Co. —Selby plant of company shut down when about 300 employes walked out in a demand for recognition of union and minimum pay of $5 a day instead of $3. Consolidated Oil Corp.—Company filed with Securities and Exchange Commission an amendment to its registration statement delaying offer date to October 1, 1935, of its $75,- 000,000 of 15-year first lien sinking funds bonds, series A, due July 1, 1950. American Locomotive Co.—Subsid- jary, Montreal Locomotive Works, has received a contract under Canada’s supplementary public Works act of 1935 for 10 locomotives for Canadian National Raflway, to cost $1,166,000. Canadian Car & Co., Ltd. —Contracts for $3,613,549 of equip- ment has been placed with this com- pany on behalf of Canadian Pacitic Railway and Canadian National Rail- of high-grade wheat. way under Canada’s supplementary public works act of 1935; Canadian Pacific’s order comprises 700 box cars, for $2,421,314, while Canadian Na- tional ordered 250 automobile cars, for $920,875, and 80 sand cars, for $271,360. Central Railroad of New Jersey— July net railway operating income was $36,744¢ vs. net railway operating deficit of $47,363 in July, 1934. In | seven months net railway operating in- | come was $1815,503 vs. net rallway | operating income of $2,255,195. National Steel Car Corp., Ltd- Contracts for $2,562,939 of equipment were placed with this company on be- half of Canadian Pacific Railway and Canadian National Railway under Canada's supplementary public works act of 1935. Canadian Pacific’s order included 150 refrigerator cars at $860,524, 100 hopper cars at $345,551 and 170 gondola cars at $728,019. Equipment booked for Canadian Na- tional comprised 150 automobile cars at $552,525 and 8 snow plows for $76,320. Seaboard Air Line Railway—July net railway operating deficit was $339,141, vs. net railway operating deficit of $212,519; in 7 months net railway operating income was $1,350,- 926, vs. net railway operating income of $1,621,855. New York Shipbuilding Corp.— Members of Industrial Union of Marine and Shipbuilding Workers of America voted to call off 15-week strike at Camden, N. J, plant of company under terms of an arbitra- tion plan proposed by President Roosevelt. HARDWARE IN DEMAND. NEW YORK, August 26 (#)—Fall hardware, including builders’ tools and general housewares products, have continued in brisk demand through- out the wholesale market. Retailers have been stocking up in preparation % — 4| + %} “ | Hudson Motors, + Annual rate— | Leading commodities got off to a good start, but became unbalanced as the day wore on and finished mixed. Cotton retained a little better than half of the day's peak gains of | around 75 cents a bale. Wheat ended | slightly lower after advancing as much as a cent a bushel during the forenoon and corn and oats were mixed. Bar silver lost % of a cent an ounce. Corporate bonds were ir- | regular and United States Govern- ments lower. Foreign exchanges did little either way. | Among shares finishing in the plus | column with gains ranging from frac- tions to 2 points or more were United States Steel, Otis Steel, Bethlehem Chrysler, Auburn Auto, Yellow Truck Boeing Ailrplane ! Douglas Aircraft, Cerro de Pasco, Ken- necott, United States Smelting, Amer- | fcan Smelting, Westinghouse, Hou- | daille - Hershey, Greyhound Corp. Phillips Petroleum, Union Pacific Santa Fe and Sears, Roebuck. Du { Pont, with a gain of more than 4 | points, was in new high ground for the year. American Telephone and Consolidated Gas were among other | shares ending within small fractions | either way of Saturday's finals. | Buyers of steel shares paid scant at- tention to the forecast of the Amer- {ican Iron & Steel Institute that pro- duction during the current week would be 0.9 of a point less than in the pre- ceding week, marking the first break ir the upward trend of output since the first week in July. Other indexes cov- ering the industry showed little let-ur in fpwmsm for the longer term out- ook. New York Cotton By the Associated Press. NEW YORK, August 26.—An early | advance in cotton, attributed to trade buying or covering on a revival of 12- cent loan uncertainties following Sat- urday’s developments in Washington | was followed by partial reaction unde: scattered selling or realizing. | December, after advancing to 10.49 | eased off to 10.3¢ and was holding around 1041 in the midafternoor market, when active months were ruling 7 to 13 points net higher. Futures closed steady. 3 m M hmm High g 1052 " Soot qutet middline. 10.85. Cottonseed Oil. Bleachable cottonseed oil futures closed easy; September, 10.25b; Oc- tober, 10.23; December, 10.03-10.05; January, 10.00-10.01; March, 10.08b. Sales, 73 contracts, including 14 switches, b—Bid. Liverpool Quotations. August 26 (#.—Cotton 1.000 bales: American nil. Spot in fair demand: prices 1 point higher: quotations in_pence, American strict good middiing. 6.81 8.51; strict middling. low middling. 5 96: & 5.76: §ood ordinary. 5.46 d_quiet. October. 5.69; 86 ganuary. 359 A 5. 55; July. 5.5 —— | LUMBER TRADE STAGES ADDITIONAL ADVANCE | By the Associated Press. December. 55; May, | NEW YORK, August 26.—Statistic on the lumber industry continue tc show up favorably, according to th: National Lumber Manufacturers’ As sociation, each week since the star of the third quarter production showed gains over the preceding week - | Shipments for the week ended Au- gust 17 were the highest for any week since 1931, barring two periods In April. Production was the heaviest | reported for any week since June, 1931 CO-OPERATIVE MEMBERS GET BEST WOOL PRICES Special Dispatch to The Star. MONTROSS, Va., August 26.—The ‘Westmoreland County wool producers who sold their wool co-operatively through the county pool received 28.55 cents per pound for their wool. The price received by producers who sold to local buyers and others received from 22 to 25 cents per pound. A similar comparison in favor of the co-opera- tive producers has prevailed eight out of the nine years that the agent has been pooling the wool in the county, 8. J. Dawson, county agent of West- moreland, arounces. CITY BONDS OFFERED. NEW YORK, August 26 (®).—A banking syndicate composed of the Manufacturers & Traders’ Trust Co. of Buffalo, Kean, Taylor & Co. and Salomon Bros. & Hutzler of New York is offering $305,000 city of New Roch- elle, N. Y., 4 per cent and 4 per cent 'bonds, maturing May 1, 1940 to 1958, at prices to yield 3 to 3.60 per cent. LAWS INCREASE PROBLEMS. NEW YORK, August 26 (#).—The increasing complexity of Government laws and regulations has served to increase the problems of business houses and has caused them to ap- peal in greater numbers to the Mer- chants’ Association for assistance, ac- cording to that organization’s annua) for promotions which begin next week. | report. t