Evening Star Newspaper, August 28, 1935, Page 14

A—14 *w* GATLEY CHEERED BY TRIP ABROAD National Savings & Trust Chief Finds British Gains Widening. BY EDWARD C. STONE. H. Prescott Gatley, president of the National Savings & Trust Co. was back at the bank today following a, short trip to Europe, largely on busi- ness. He was most cordially greeted by Wil- liam D. Hoover, chairman of the board, and the rest of the staff. “Things are looking better in England” he said, when asked how he found business and financial ¢ ondi- tions. He spent § ;;m;n:fiohx:.! l‘fl’;‘;f H. Prescott Gatley. ing with many British financiers dur- ing his short stay. He found confidence and optimism growing rapidly. His observations confirmed the many favorable business reports that have been coming from London in recent weeks. Substantial recovery progress has already been made and that improvement promises to continue. Mr. Gatley was much pleased with what he saw and heard on the trip. He lett London before a good deal of the intense feeling over the Italian- African situation had developed. Block of Pepco Bonds Called. The City Bank Farmers' Trust Co., New York, &s successor trustee, is FINANCIAL. Prev. High. 9% 334 1au 13% 8% 1% 20% 2% 814 301 165 12711 notifying holders of Potomac Electric Power Co. general and refunding bonds, series B, 6 per cent, due in | 1953, that there has been drawn by Jot for redemption out of sinking fund monies on October 1, 1935, at 105, $34,500 principal amount of these bonds. The bonds, which have been drawn for redemption, include 28 $1.000 bonds, two of the $500 denomination and five $100 bonds. Holders of the | bonds which have been drawn have | been notified that same must be pre-| sented at the head office of the bank | tn New York on October 1, the desig- | nated redemption date. and that after that date interest on these 35 differ- | ent bonds will cease. | These Potomac Power bonds have | been gradually reduced by lot ro.—‘ geveral years. There are $5,093,700 | listed on the Washington Stock Ex- | change, the last sale being made at 107. They have sold this year as high as 110! low, 10612, At present levels the yield on the bonds is about 6.40, the issue being one of the strong- est and most popular on the board. It should, of course, be borne in mind that only a few of the bonds are being redeemed at this time. Brokerage Houses Crowded. Brokerage houses in this city were erowded today as the New York Stock Market opened, the extra concern being aroused by the sell-off in the Jate trading yesterday. Stocks opened Jower. : There has been a lot of interest and comment on the recent remarks of Secretary Morgenthau on the action | of Government bonds. “If the in-| vesting public thinks that 99'; is all richt for a 27: issue, that's all right | with us,” he is quoted as observing. | “Always in advance of financing | we let the bond market seek its| own level,” the Secretary added. “If we have any buying to do for Postal | Savings we don't do it in advance of such financing.” There has been so much talk about the Government holding up the bond | market that Mr. Morgenthau'’s re- marks are unusually timely. Trade Gets Early Fall Start. The Guaranty Trust Co.’s review, out today, says that recent develop- ments have made it increasingly clear that the business recession of the late Spring and early Summer was of comparatively moderate propor- tions, in contrast to the wide down- | ward swings that followed the brief period of revival in 1933 and 1934. The decline seems to have given way to an irregular upward movement euggesting that some branches of business are feeling the effects of normal Autumn stimulus somewhat earlier in the season than usual. The bank says the security mar- Kkets continue to indicate an improve- ment in business sentiment, despite numerous political uncertainties at home and the dubious outlook for peace abroad. New security flotations have continued to increase, reaching a total of $644,452,155 in July, the highest figure reported since March, 1931, while the amount of corporate securities alone is the largest since January of that year. Basic commodity prices have shown | few marked changes since termination | of the N. R. A. codes, although the general trend has been slightly down- ward. A highly encouraging feature of the business expansion in the last few weeks is that in the durable goods industries. In distributive lines, the current advance has not shown its effect too clearly, the review states. D. C. Exchange Trading Lively. An unusually large number of dif- ferent issues appeared on the board in today's Washington Stock Ex- change trading. The ket opened with a lively demand for Washing- ton Gas 5s, 1958. Eight sales took place, all at 106}, unchanged. Sales totaled $15,500. Washington Gas 6s, series B, came out at 104 and closed at 103 for two baby bonds. Potomac Electric Power Consolidated. 5s figured in a $4,000 sale at 103'2, % from.the last trans- Zer. Riggs National Bank comman moved at 215 and 214'; today, Fire- men’s Insurance stock sold at 30 and Potomac Electric Power 5% per cent preferred registered 113. Mergen- thaler Linotype came to life, 31 ghares selling at 27 against the last previous sale at 29%¢. People Drug prefeired has been added to the list of stocks soon to pay the regular dividend. Heard in Financial District. Member banks in the Federal De- posit Insurance Corp. will receive credit against their Federal assess- ments for all money paid by them into. the temporary insurance fund, Leo Crowley, chairman of the corpo- ration, states in a letter to the banks outlining provisions of the permanent insurance plans in ted in the banking act of 1935. Stating that some banks had previously charged off assessments paid, the corporation suggests that such amounts may be re-established on their books. e e "B private wire direot to The Star. Stock and Bales— Dividend Rate. Add cfl Hgh. 1 15 2 5 4 17 u fi 6 s 161% lsm 11274 1274 26 6% 6 3 71 0% 50 26 254 22 3% 3% 2 28 27 15 €9% 684 2 51% bl 7 271 26% ‘708 631 63 1938 Low. 4% Adams Express. ... 28 Adams Millis (2)... 8 Addressog’h(alse). 415 Advance Rumley 6% Affliated Pro (60c). % Alr-Way Elec Appl. 15'% Alaska Jun (160¢).. % Alleg Corp (d) . .. 23, Alleg pf w$30w (d). 21 Allegheny Stl (1) __. 125 Allled Chem (6) l22'~ Allied Chem pf (7). # Allled Stores 49 Allfed Stores pf (5) 12 Allis Chaimers 214 Amal Leather 26 Amal Leath pf (12) 4815 Amerada Corp (2) . 411; Am Ag Ch Del (2).. 13} Am Bank Note 43 Am Bk Note pf (3) 110 AmCan (14) . 10 Am Car & Foundry. 2514 Am Car & Fdry nt.. 8 Am Chain 38 Am Chain pf. 225 Am Comcl Alcohol. 613 Am Crystal Sugar_. 72 AmCrysS 1st pf 6. % Am Encaustic (d)-. 2 Am & Forelgn Pwr_ 12 Am & For Pw $6 pf 14 Am & For Pw 87 pt. 3% Am & For Pw 2d pf._ 8% Am Hawaiian S8(1) 17 Am Hide& L pf . 29'x Am Home Pr (2.40). 2% Am Ice 4’3 Am International 9 Am Locomotive 32 Am Locomotive pf 1813 Am Mch & Fy (80c) 1313 Am Metal 24 Am News (113) 1's Am Power & Light_ 8% Am Pw & Lt $5 pf 10'« Am Pw & Lt $6 ot 10'; Am Radiator 15% Am Rolling Mills 4'2 Am Seating vte .. 20 Am Shipbldg (2)._ 31% Am Smelt & Ref Am S&R 7% pf (7). 11394 130 Am Snuft (13) . 2 12 0% Am Steel Foundry .. 18% 17% Am Stores (12) 6% 36% Am Sugar (2) .. Am Sug pf (7). Am Sumat Tob (1) Am Tel & Tel (9) 2 Am Tobacco (5) - 2 9% Am Tobacco B (6)__ 11 100% Am Type Fdrs (d).. 7 4% Am Type F pf (d).. 180s 16% Am Water Works_. 69 Am Woolen Am Woolen pt Am Writ Pap (d) Am Writ Pap pf (d) Am Zinc & Lead __. Anaconda Copper. Anchor Cap (60¢) ‘s Andes Copper Archer Dan M (1) Armour of Illinois . s Arm'r (Il1)pr pf (6) s+ Armstrong Cork 500 Arnold Constable. Asso Dry Goods. Asso DG 2d pt Atch To&S Fe (a2). Atch To&S F pf(5) Atlantic Coast Line Atl Gulf&W Ind. E Atlantic Ref (1) _ 20 Atlas Powder (2) 12 4 Atlas Tack ___ 1 15 Auburn Auto 39 2% Aviation Corp(Del) 10 T 11 20% 48 16 87 24% 138 4% 1% 5% s Poanie LE3a R © 38 135 133% 9% 15% 14 0 _—— 1’3 Baldwin Loco (4) 713 Baldwin Loco pf (d) Ti3 Baltimore & Ohio .- 914 Baltimore & Oh pf_. 3% Barker Brothers _. 32 Barker Brothers pf. 574 Barnsdall Corp 141 Beatrice Cre (a50c). 11' Belding-Hem (a50c) 117 Bendix Aviation 15'4 Beneficial Lo (1%). 84 Best&Co(2). . 38 9 79 13 1 2 213 Bethlehem Steel 55% Beth Steel pf(al% 14% Bigelow-San Corp . 9% Blaw-Knox : 28Y% Blumenthal pf 45%, 45% 36l 46% 31y Tl 125% 12114 Brown Shoe pf (7). 6% 8% 15 6 484 [ 19% 10% 18% 31a 2% 1%, 207 61. Boeing Airplane 395 Bohn Alum &Br (3) 90 Bon Ami (A) (14) . 10s 42 Bon Ami (B) (12)_. 200s 21 Borden Co (1.60) 33 281 Borg Warner (1%). 14 i, Botany Min (d) A - 1 81; Bridgep't Brass 40¢ 15 24': Briggs Mfg (2) 75 2314 Briggs & Strat (3) .. 30% Bristol-Myers (12)_ 364 Bklyn-Man Tr (3) .. 1% Bklyn & Queens_ 43 Bklyn Union Gas(5) 134 411 44 35% 42% 2%, 2 654 208 1211, 197 3 4% 4 2 3 3% Brunswick-Balke 4% Bueyrus Erfe 814 Bucyrus Erfecv pf_ 3% Budd(EGI)Mfg ... 23 Budd(E G)Mfg pf-. 215 Budd Wheel 814 Bullard Co 3% Bulova Watch 13% Burr Add Mcntll‘c) 1 Bush Terminal «d)_ 1t Butte Copper&Zine. *. Butterick Co (d) . 11% Byers (A M) 6% 6% 134 451 ——————————— 1% 5% 22% 165 13%, 36 127% 451 3% 112 56'a 35% 4% Nehi Corp.—Common share earning, six months ended June 30, were 30| cents, vs. 11 cents. I flt 1, Callahan Zinc 213 Calumet & Hecla Ti; Campbell-Wy agoe.. 84 Can Dry G A (40c).. 9% Canadian Pacific__. 30 Cannon Mills (2) 4% Capital Admin (A)_ 3213 Cap Adm pf A (3) 45% Case (J I) Co__ 831 Case (J I) pf (4 361 Caterpillar Tr (t 19 Celanese Corp———-. 17 Celotex Co (d) - 11% Celotex Co pf (d) 221 Cent Aguire (1%)_. 38% Cerro de Pasco (4)— 3% Certain-teed Prod__ 23 ertain-teed Prpf_. 37% Ches & Ohio (2.80)_ s Chi & Grt Waest (d)._ 15% Chi & Grt W pf (d) - 15% Chi Mai) Order (11) % Chi Mil StP&P (d) 3, Chi M StP&P pf (d) 1% Chi & N W () 3% Chi & N W pf (d) . 4% Chi Pneumatic Tool _ 20 Chi Pneu Toal pf.__ % Chi R 1&Pac (d).. - 1% Chi R 1&P 6% pf(d) 2515 Chickasha C O (2) 315 Childs C 31 Chrysler Corp 16 City Ice & Fuel (2). 87 City Ice&F pf(6%, 27% Clev Graph Br (11). 20 Cluett Peabody (1) 15% Colgate-P-P (50¢) . 101 Colgate-P-P pf (6)_ 9 Collins & Aikman _ 69% Collins & Atk pf (7) 6% Colonial Beacon ON 1 Colo Fuel & Ir 1) 5 ColoF & 1 pf (d) 3% Col Gas & Elec 351 Col G & E pf A (6)_. 31 ColG&Epf (5) .. 344 Colum Pic vie (1) 67 Colum Carbon (4) .. 3915 Comei Credit 12) 56% Comel Inv Tr(12.80) 977 Comel In T pL(4%)- 17% Comel Solv (160¢) .. 3% Comw & Southern_.. 291 Comw & Sou pf (3) = 27 Congoleum-N(1.60). 23% Conn Ry&Lt (4%).. 7 Consol Cigar._. 3% Consol Film 14% Cons Film pf($1% ). 15% Consol Gas N ¥ (1). 72% Consol Gas ot (5) - 1% Consol Laundries__ 6% Consol Oil (a25c)-.. 1 Consol Textile . 8% Container Corp (A) 2% Container Corp (B) 415 Contl Baking (A) % Contl Baking (B) _ 46% Contl Baking pf (4) 62% Contl Can (2.40) 7 Contl Dia F (a30c). 287 Contl Insur (+1.20). % Contl Motors 15% Contl O Del(a37%¢) 41% Corn Ex Bk&Tr (3) 220s 62 Corn Prod Ret (3)-. 13 4% Coty inc 357 Cream of Wh (12)_. 12% Crosley Rad (a26e). 231 Crown C&S (1) 43% Crown C&S pf(2.70) 31 Crown Zelleb’k vto. 14 Crucible Steel oo [ 2 1 22 3 80s 16 15 1 1 6 14 l 104 30 25% i0s 98 30s 8 4 2% 30s 15 193 10% 1 T4% 69 64% 9 87 21 50% 69% 6 100'/. 100 0 19 18% 15 48% 36% 104 24% 98 408 8 THE EVENING Low. Close. Chge. 15 137% 136 104 Prev. 1935 5 N 30% + %| 22% 12% 12 -% T — % 1. =W 16% — % Stock and Di e A ls Cnru- Publmnng_. 8914 Curtis Pub pf (7). 2 Curtiss Wright._... 6% Curtiss Wright (A) 73 Cushmans pf (1) 16 Cutler Hammer: 22% Deere&Co. .. ... 19 Deere&Co pf ($75c). 2315 Delaware & Hudson 11 Del Lack & West... 65 Detroit Edison 14). 35% Devoe & R (11) A__ 26'% Diamond Mteh t1%. 3413 Dome Mines (12) 6% Dominion Stores 1714 Douglas Air (a75¢). 2 Dunhil Internatl 113 103 Duplan Silk pf (8 122% B6% Du Pont (13.60) - EER FEEF A U e | FEF 8 152 3% Eastern Roll M1l 1101 Eastman Kod (15).. 247 16% Eaton Mfg (1) 29 19% Electric Auto Lite.. 112 107 Elec Auto L pf (7). 8% 3% Electric Boat. 8% 5% Eléc & Mus In: 7% 1% Elec Pw & Lt 28 213 ElecPw& Lt 32 3 ElecPw&Lt$7pt. 49%; 39 Elec Stor Bat (2%). 65% 52% Endicott-John (3)_. 132 125% Endlcott-Joh pf(7). 41 14 EngPubSvec$5pf.. 41% 14' Eng P S $5.50 of ww 412 Equip Office Bldg ... TwErfeRR . 8!; Erle RR 1st pf 10! Eureka Vac C (80c) 15 Evans Prod (a1) 5 Falrbanks Co 4 Fairbanks Co p! 17 Falrbanks Mors 711 Fairbanks M pf i3% 5% Fed Lt & Tr 48 Fed Lt & Tr pf (6)._. 2 Fed Screw Works__ s Fed Water Sve (A). 161x Fed'd D Strs (160c). 2813 Fid Ph F In (11.20). 13'» Firestone (40c) 84'3 Firestone pf A (§)_. 214 Follansbee Bros(d). 20% Food Machine (1) _— 974 Foster- Wheeler __. 60% Foster-Wheeler pf 19% Four Nat Iww a1.10 8% Fox Film (A) 30% Frank Sim pf $3% _. 17% Freeport-Texas (1) — e 28 7» Gabriel Co (A)_ 10 513 Gen Am Investors__ 100 84% Gen Am 1 pf Www(6). 44 32% Gen Am Trans(1%) 20% 11% Gen Asphalt 121 145 FlHt 7% Gen Baking (60c) . 115 Gen Baking pf (8). V4441 19 Gen Cable pf._ 50 Gen Cigar (14)_———. 20'; Gen Electrie (60c)_. 3214 Gen Foods (1.80) __. s Gen Gas & El (A) 55's Gen 1tal Ed (a3.85). 597 Gen Mills (3) 26% Gen Motors (12)_ 107! Gen Motors pf (5) . 3 Gen Outdoor Adv__ 10 Gen Outdoors Adv A 17% Gen Print Ink(1.60) 931, Gen Print Ink pf(6) Gen Public Service. 15% Gen Ry Signal (1)_. % Gen Realty & Util_. 16% Gen Refractories 12 Gillett Saf Ras (1) 24 Gimbel Bros 18 Gimbel Bros pf 23% Glidden Co (11) 109% 1047 Glidden Co pr pf [} 4% -~ 1'a Gobel (Adolf) (d).. 14% Gold Dust (1.20) . 713 Goodrich (BF) .- 40 Goodrich (B F) pf_. 15% Goodyear T&R - 70 Goodyear 387 pf ll). 20 Gotham Silk H pt 1% Graham-P: 5% Granby Consol..... 24 Grand Union 14% Gmand Un pf (1%) . 26 Grant (W T) (1) 9% Grt Northern pf 9% Grt North Ore (50c) 26% Grt West Sug (2.40) 2012 Greyhound Corp 1 61 Hamilton Watch 63 Hamilton Watch pt 16 Harbison Walk (1). 513 Hat Corp of Amer__ 81 HatCo pf ww (6%) 1% Hayes Body . 85 Hazel Atlas Gl Hercule Hercul - 73% Hershey Choc (3)_— 5% Holland Furnace .. 6% Holland & Son (60c) 307 Houd-Hersh (2%) & 613 Houdaille-Hersh B 9 Houston Ofl 113 Houston Oil (new)_. 43 Howe Sound (3) . 2% Hudson & Manhat_. 613 Hudson & Man pf__. 64 Hudson Motor Car_ % Hupp Motors — e 9'3 I1linois Central 23!5 Indus Rayon (1.68). 601 Ingersoll-Rand (2)- 46% Inland Steel (2) 21 Inspiration Copper.. 4 Insur ShMd cfs 15¢. 8% Interboro R T (d)— 4% Interlake Iron...... 2% Int Agricultural.... 26 Int Agricul prpf . 3% Int Car'rs Litd (20c) 22% Int Cement (1) 3414 Intl Harvester(80c) 1% Int Hydro Elec (A)- 1% Int Merch Marine . 223 Int Nick(Can) (60¢c). % Int Paper & Pw (B). % Int Paper & Pw (C). 41 Int Paper & Pw pf__ 9815 Int Print Ink pf (6). 29 IntSalt (1%) 42% Int Shoe (2) 604 Int Silver pf ( 5% Int Tel & Tel 87 Intersttae Dep Strs. 25 island Creek C (2) . EFEEREE £ ¥ & FFES HHELH L+ + o+ 1+ £8 FEEFess *11 4 [ & FEE £ EL 68 38Y% Johns-Manv (ablc) 7% Kaufmann D S(80c) 15% Kayser(J)&Co nou. y 16% 19'6 Kr!lll (S8) (1)eee 6913 563 Kress (S H) (t1) 324 22% Kroger G&B (1.60 2214 Lambert Co (3) 8% Lee Rub&Tire (50c) 105 Leh Port Cement 5% Lehigh Val Coal pf. 5 Lehigh ley R R-. 67% Lehman C (12.40) 10% Lehn & Fink (134) . 6% Libby McNeill & Ly .. 2115 L1b-O-Ford G1(1.20) 93% Lige & Myers (14)B 13 Lima Locomotive__ 17% Link Belt (80c) —__ 24% Liquid Carb (11).ee 31% Loew's Ing (2) ceee ~ 1 Loft Ine 1% Long Bell Lum (A). 42% — % | 41% 33 Loose-Wiles (2).... 1% — % | 130 121% Loose-Wiles pf (7). 4% + | 25% 18% Lorillard P (11.20). 1% % La Ofl Ref (d) ... 22% 10% Louisv G&EpfA 1%. 47% 34 Louis&Nash(a2%). 24% 12% Ludlum Steel 40 McAndrews&F(13). 28 McCall Corp (2) .. 7% McCrory Stores (d). 615 McCrory Strs B (d). 36% Mecintyre Porcu (2) 5% McKesson & Rob 32 McKesson & Rob pf 81 McLellan Stores. ... 18% Mack Truck (1) 30% Macy (R H)& Co(2) 13% Man El md gtd (d)_ 10 Manhat Shirt (60c). 5% Marine Midld (40c). 3 Market St Ry 17% + % 25% — % 98 +1 28% 8 12% 17% 13% 2% — % 15+ % 10% + % T4 — % 69 -2 64% +1% Maytag Co. l:“ Maytag ww (33%)_ » i 6 mq 104% IN% l! 30s 4 7 10 1 3 59 63 82% 50 Jones&Laugh?7%pf 180s —_— 1 5 EE Ty M Son uqs.nnw = ol an BeandRa SV- 7’/. 81% 26% 36 33y, 14% 94 35'% 37% 37% 8 29% & 113 107‘1 107 22 e 116'/1 116 116% % 12% 29 50% 11% 9413 231, 105‘1 101 22 84% 8 13% 8% 394, 19 14% 3 4% 4 Net. RO R 2 R 2 ¢ ., ¥ I+l| 2T wE w8 sresly pEir + 441+ 4¢|¢|A+||il+ - e - F& IS & FrF T+ 14+ FEFFEEEs ++ LreEE 52 - % — " =14 67 343 -% + % + W - % -3 38% 121% lzl% 121% + % 19!« 40% v 41% 29% 11% 11 36% 6% 39 12% 21% 44% 234 14% 19% 40% — 224 =1 +% =% 41% -1% Prev. lllb Btock and High. Dividen 60% H " Melville Shoe (2%). 3 Mengel Co. 20% Mengel Co pt 24% Mesta Machine (2). % 2% Miami Copper. - 9% Mid-Cont Pet(al5e) 8% Midland Steel Prod. 58 Minn Hon R (13)_. 3% Minn Moline Pw. 1 MStP&SSMpf .. 21 Mo Kans & Texa 14 Mo Pacific pf (d) . 10% Mohawk C M (a%5c) b5 Monsanto Chem(t1) 21% Montgomery Ward. 17% Motor Products (3). 7'% Motor Wheel (60c) - 4% Murray Corp 11 Nash Motors (1) 44 Nat Acme Co. 6% Nat Aviation.. 22% Nat Biscuit (1.60).. 131 Nat Cash Ri A(50c) 12% Nat Dairy Pr (1.20). llD 103 Nat Dairy pf A (7)- 4% 115 Nat Dept Stores (d 17 Nat Dapt Str: 29% 23'% Nat Distillers (2) 1:". 4% Nat Pw & Lt (80c 58% % Nat Ry Mex 1st pf 40% Nat Steel (11) 9 Nat Supply Co. 8% Nat Tea (60c) 21% Neisner Bros (fl)-. 109 Newberry J J pf(7) 4% Newport Industries 1813 N Y Airbrake .* 1244 NYCentralRR 97 N ¥ Chi & St L pf % N Y Investors (d) 2% N Y N H & Hartford 6 NYNH& Hartf pf 2% N Y Ontario & West 14 N Y Rwys pf (d) - 64 N Y Shipbuilding - 70 N Y Shipbldg pf(7). 30% Noranda Mines (2). 99 Norf & West pf (4). 2 North Am Aviatio 9 North Am Co (1)_ 35'9 North Am Co pf ( 57 ‘North Am Ed pt (6) 13's Northern Pacific 14'« 9% Ohio Ofl (a15¢) .. 21% 16% Oliv Farm Eq(new) 813 313 Omnibus Corp _. 813 4% Oppenheim Collins_ 22 11ia Otis Elevator (60c) 125 106 Otis Elev pf (6) 1713 4% Otis Steel 8415 22% Otis Steel pr pt G 10 10s .~ 278 5 14 1 13% 19 12 6% 31 1 Pac-Amer Fisheries PacificCoast___ ___ PacificG& E (1%). Pacific Ltg (2.40) Pacific Mills _ Pac Wn Oil (b40e)_. Packard Motors Panhandle Pro & R_ Param't Ple 1st pf __ Param't Pic 24 pf Park Utah Parmeles Transp't_. Pathe Exchange. Pathe Exch (A) Patino Mines Peerless Motor_. 57% Penney J C (2) ... 214 Penn Coal & Coke . Penn Dixie Cement.. Penn RR (1) Peoples DS (11). 17% Peoples Gas Chi 91, Pere Marquette 1613 Pere Mara pr pf. 141 Pet Milk (1) T8 Petrol Corp. 12% Phelps Dodg 383 Phila Co pf<6) 23 Phila Co 6% pf (3)- 15 Phila Rap Tr (d) .. 1% Phila & Read C&I 35% Philip Morris (1) 13% Phillips Petrol (1).. 50 Phoenix Hpf (:1,)_ % Pierce Oil » Plerce Petroleum _ 31 Pillsbury FI (1.60)- 7 Pitts Coal 261 Pitts Coal pf e 51; Pitts Screw & Bolt.-. 221« Pitts Steel pf 10' Pitts Term Coal pf_. 114 Pitts United Corp. 2415 Pitts United C pf 613 Plymouth Ofl 61« Poor & Co (B) - 1% Porto R Am Tob(A) 4% Postal Tel&C pf (d) & Pressed Stl Car (d)_ 17 613 Pressed Stl C pt (d) 53% 42% Proc & Gambl (133) 120% 115 Proc & Gam pf (5).. 45 20% PubSve NJ (2.40)_. 100 62% Pub Sve N J pf (5).. 1241 854 Pub Sve N J pf (T)-. 527% 34 PullmanIne (3)..-. 104 57 Pure Ofl ——— 7613 34% Pure Of1 6% pf————_ 93 49% Pure Ofl 8% pf_ 147 8% Purity Bakeries (1) P S 7% 4 Radio Corporation 6215 50 RadioC'ppfA (3%) 65% 35% Radio Corp pf B 3 1% Radio-Kelth-Or (d) 21 16 Raybestos-Man (1). 431 297 Reading (2) 215 1 Reis (Robert) 15 8 Reis (Robt.) 1st pf_ 11% 7 Remington-Rand 23w 21% Remington-R pr pf- 4% 19% 4% 93 24% 23% 85 1274 10 08 41 22 2% % '3 8 81 35% 12% 448 9 49 15 3% 564 11% 11 4% 16% 34 I 75 Revere C& B pf-. 17% Reynolds Metals (1 12% Reyir'lds Spring(1) . 434 Reynolds Tob B (3) 5% Ritter Dental __ 30% 217% Roan Antelope Ltd_ 44% 29% Royal Da1.70 1-10c. ———— 46 36% Safeway Stores (3). 10 St Joseph Ld (40¢)_ % St L-San Fran (d)-. 6 Savage Arms 22 Schenley Distil 1% Schulte Retail Strs. 8 Schulte Re Strs pf_ 55 Scott Paper (1.80)_ 4 Seaboard Air L (d)_ s, Seaboard A L pf(d) 20% Seab’d O Del (160c) 31 Sears Roeb'k(a75c) 114 Second Nat'l Invest. 40 Sec Nat Inv pf 123 7% Servel Inc 9 Sharon Steel Hoop_ 7% Shattuck(F G) (25¢) 513 Shell Union Oil ___. 8% Silver King C(40¢c)_ 6 Simmons Co. Extras Are Voted By Wesson Oil and Beech-Nut Packing By the Associatec Press. NEW YORK, August 28.—Directors of Wesson Oil & Snowdrift Co. have ordered an extra dividend of 87 | cents and the regular quarterly divi- dend of 121 cents on the common stock, payable October 1 to stock of record September 14. In the pre- vious quarter the company paid an extra dividend of 37% cents. Beech-Nut Packing Co: declared an extra dividend of 50 cents and the % |regular quarterly dividend of 75 cents on the common stock, payable Ootober 1 to stock of record Septem- ber 12. A similar extra was paid in the three preceding quarters. North American Co., public utility holding company, today declared the usual quarterly dividend of 25 cents on the common, stock, payable October 1 to stock of récord September 10. Directors of American Safety Razor Corp., manufacturers .of Gem and Ever-Ready safety razors and blades, declared a quarterly dividend of $1.25 14% + %4 | per share on the no-par-value capital stock, payable September 30 to stock- 30v 4 1 | holders of record September 10. 915 — W Borg-Warner Corp.—Sales of Norge 13 -ummmmwfl =k per cent over July, 1934, ividend Rate. nnoo.m mchn”. High 1 68% b58% 58% STAR, WASHINGTON, D. C, WEDNESDAY, AUGUST 28, 1935. TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE Prev. 1638 18% 4% — % | 11% 35% —134| 39 33% — W 4% ~1% 10% + % 17 102 %5 20 15% 28% -1 ¥ 2% — 4%~ 9% 1% — 2 + 16 724 + 33% + 37 % — " 59'% Spang Cl v 7914 103% 9% 477 Sple, 9% 11% 1% Stand G 25%, 4% Stand G 27%" 6 Stand G 1% ;o 16 111 28 50% 20 67% 13% 10% 4% 5% 121 S 3 12% 5% 19% 2% Stand O 1++ 1+ 25 EreEe ¥ 214 Stone & 60'3 Sun Oil 115% Sun Oil 11 l+_|_ r 3% 14% Swift & 1+ 9% 5% 23% 36% 8% 815 Tex Pac 1+1++1+P ++ 28% Timken 18 Twin Ci 65 65 5 1 5 354 US Ind 53 USLea 3 USRea I+ 141+ | 11315 Ty 66% " 19% ' 51 1 1 UtlPw 1 72'; VaEl & 1 26% Walgr 2« Warner 141; Warner 2'; Warren 20% Warren 3013 Wesson 34 36 W 114 120 90 West'h' 16% W 51 73 5% 4% 2% Zonite P: | M PE FEEEEIV declarations. I+ 14% 14w ,‘i-‘; 314 Snarks-Withington T4 Sperry vtc (a25c) . 8'5 Spicer My -May-Stern. 86 Spiegel-M-S pf(6%) 1 13% Stand Brands (80¢)_ 130 120% Stand Brands pf(7). 1% Stand Gas & Elec . 7 Stand Inv Corp. .. 38% 27% Stand O1l of Cal (1) 23 Stand Ofl of Ind (1) 35% Stand OIIN J (11)_. 12'% Starrett (L S) (1) .. 58% Sterling Prod (3.80) 6% Stewart-Warner 1% Symington (A)( —_— 6% Telautograph (60c) 4 Tennessee Corp. 16'; Texas Corp (1) 28% Texas Guif Sul (2)_ 34 Tex Pac Coal & Oil 1% Thompson Starrett. 75 Tide Wat Asso Oil 4% Timken- '3 53% Und-Ell- 29 Union Bag&Pap (2) 44 UnCarb&C(1.60). 14% Un Ofl of Cal (1) 2 8215 Un Pacific (6) - 7912 Un Pacific pf (4) 207 Un Tank Car (1. 97 United Aircraft. .. 45 United Air Line vte 20% United Bisc (1.60) . 46 United Carbon 2.40_ 15 United Corp 9 20% United Corp pf (3)-. 8% United Drug 4!5 United Dyewood United Dyew pf (7) 314 United Eiec Coal___ United Fruit (3) 9'4 United Gas Imp (1) 8713 United Gas 1 pf (5) U S Distributing pf. 43 US & For'n Secur_. U S Freight (1) 40% U S Gypsum (1) U S Hoffman 12 Vadsco Sales Corp.. 11% Vanadium Corp 11% Van Raalte (a25¢)-. 34 Vick Chem (12) 2!3 Va-Car Chemical_ 17!3 Va-Car Chem 6% pf 631y Vulcan Detin (aé)_. Wabash (d) ___ 414 Waldorf Sys (50c) . West Pa Elec (T)A_ Pa Eiec pf (6) 397 West Pa Elee pf (7) 95 West Pa Pwr pf (6) 104'; West Pa Pwr pf (7) 3 Westn Dairy B vte_ 5'; Western Maryland 1's Western Pacific (d). 2% Western Pac pf (d). 20% Western Unton____. 18 West'gh'se A B50c.. 32% Westinghse El a50c. 5% 2% Yellow Truck .. 3113 Yellow Truck pf 35% 18 YoungSp& W ( - 28% 13 YoungstownS& T. 1% Zenith Radio ... Dividend rates as given in t cash pavments based on the latest quarterly or half-yearly Unit nl !ndlnl less than 100 lmrel ccumulated dividends. FINANCIAL., idend Rate. Afll 00. High. 5 SimmePet (a50¢) - 64 Skelly Ofl__ 13 Sloss-Sheffield_. 15% Snider Packing____ 11 Secony-Vac (30¢)-. 20 Sou Porto R Sug(2) 10% South Cal Ed (1%). 12% Southern Pacific 5% Southern Railw: 108 1 39 *il++ s FEFFFEL alf pf $375 30s 11 96 1 16 § 4. L+l U - & OFis 64 208 39 &ES4pf . 30 &ESSpf . 6 & E 37 pf-. l+||0l+| il Exp pf(5) Webster. 2% Studebaker Corp. (1) . of (6) Superheater (50c) 1% Superior Oil 5 Superior Steel _ Sweets Coof Am_.. Co (1508 STOCKS IRREGULAR AT END OF SESSION Small Gains and Losses About Even After Early Selling. STOCK AVERAGES ndll& Rllll Ull 5( Net change. —1 —1 +2 Urfc' Today,s close 64.3 246 352 47.1 Prev. day.. 644 247 350 471 Month ago. 64.3 256 350 47.3 Year ago... 50.2 26.5 28.6 389 658 276 393 49.1 495 185 216 3438 - 614 430 406 514 - 453 228 242 349 - 1715 87 239 169 -1469 153.9 184.3 157.7 - 516 953 618 618 (Compiled by the Associated Press.) BY VICTOR EUBANK, Associated Press Financial Writer. NEW YORK, August 28.—The stock FE * n B ta i) £ 4+++ 1+ Land Trust 131 Thatcher (1) 8| Detrot _ RB (11)_ [REE 2 47 Transamerica(30c). T4 Trans & Westn Air_ 5'a Transue&Willlams." 1% Tri-Contl Corp .. 4% Truax-T 3's Truscon Steel ith Century Fox 20th Century Fox pl % 'ra Coal.. W ty R T pt % Fisher (2). = h 1 N Alcohol (2). 315 U S Leather vte T3 U S Leather A vte th pr pf vte. 14% US Pipe & F (50¢) - Ity & Imp. 914 U S Rubber.__ 3% United Stores (A)_. Untv Leat Tob (12) 1334 Univ Leaf T pf (8)_ Univ Pipe & Rad 913 Univ Pipe & Rad pf 4508 &Lt (A) - 11 1 1 4 2 2 3 Pwpf (6).. 508 208 Co (1.40). 114 Walgreen pf (6%)-. 1% Walworth Co. . 5 Ward Baking (A) 1% Ward Baking (B)__ 2813 Ward Baking pf (2) Bros Ple___ Bros Pic pf Bros Fdy&P (2). O&S (t50¢) I+ Ll i+++ 1stpf 3l 'vaco Chi “40c) 14% Wheeling Steel____. 67 White Motor.. 1% White Sewing Mch_ 3% Wilson & Co (a25c). .51 Woolworth (2.40)__ 21% 11% Worthington Pump. 464 25% Worth Pumppf A 828 73% Wrigley W jr (13)_. 10 roducts. 1 3% Approximate Sales of Stocks on the N. Y. Stock Exchange. | 590,000 12:00 Noon.. 980,000 2:00 P.M. above table are the annual + Annusl rate— 'aid this year. b Paid being miec. eporied” 1n" recatversnls®or ividend. WHOLESALE TRADE ADVANCES SHARPLY | July Volumes in New York Area| Show Gain of 13.6 Per Cent Above Last Year. By the Associated Press. NEW YORK, August 28.—The Sep- tember 7 monthly review of credit and business conditions by the Federal Reserve agent at New York states that July 'lles of the reporting wholesale firms in this district were 13.6 per cent higher than last year, the largest percentage increase sinee December. Drug, paper and jewelry concerns, said the survey, reported the largest increases in more than a year and sales of the grocery and shoe firms were ahead of a year ago by the larg- est percentages in 7 or 8 months. July total sales of the reporting chain store sysiems were a little more than 5 per cent higher than last year following & small decrease in the pre- vious two months, but after allowing for differences in the number of shop- ping days between this year and last, the increase in sales was of approxi- mately the same proportions as in | June. NEW YORK BAR SILVER. NEW YORK, August 28 (#).—Bar silver steady and unchanged at 65%. National Dairy Draws Debentures For Redemption By the Associated Press. NEW YORK, August 28.—National Dairy Products Corp. is - notifying holders of its 514 per cent debentures due 1948 that $146,500 principal amount of these debentures have been drawn by lot for redemption on Octo- ber 1, 1935. They will be redeemed at their prjncipal amount, plus a premium of 3 per cent and interest to that date. BANKS SHIFT FUNDS FROM FEDERAL ISSUES By the Associated Press. Reporting member banks of, the Federal Reserve System in leading cities continue to expand their in- vestments in securities other than Federal obligations. Their holdings in‘that category have increased stead- ily since the turn of the year, in contrast with a marked tapering off in holdings of direct Government se- curities. Total holdings of “other” securities and obligations guaranteed by the | 5V Federal Government of the reporting : SRR . | No. 3, white, tough, 26a27;; market was in an uncertain frame of mind today. After making an unsuccessful at- tempt to sell off during early trading, | it settled down to an irregular trend, | with small gains and losses about | evenly divided. The closing tone was |irregular. Sales approximated 1,400,- | 000 shares | Other financial markets acted in concert with equities. Wheat ended a trifle lower after showing steadiness during early transactions, corn was | mixed and oats were quiet. Cotton | got off on the right foot but made little progress in either direction. Corpo- | rate bonds slipped backward, but U. S. Governments steadied. Foreign cur- | rencies were about a stand-off. Other than the heavy selling flurry that hit stocks shortly after trading | got under way and which was checked almost as quickly by selective support, | there was little feature to the market. 1r any one group stood out against + | the others it was utilities, for which support was first to appear and for | which it seemed to be of a more per- nstenl nature than in other divisions. | Commonwealth and Southern pre- ferred was a particularly firm spot, with a gain of more than a point. Among other shares endingz in the plus column, mostly with fractional gains, were Inland Steel. Chrysler. Yellow Truck. Consolidated Gas, North American, Otis Steel, American Water Works and @olumbia Gas. Small losses were made hy National | Steel, United States Steel. Bethlehem, General Motors, Goodyear, Montgom- ery Ward, Greyhound, Spiegel-May- Stern and Columbian Carbon. By the Associated Press. CHICAGO, August 28.—The slump of wheat [utures prices continued to- day as the market dragged through another dull session. Hedging pressure and scattered liquidation credited to Eastern houses which were conspicuous buyers last week proved to be too much for the modest buying that supported the market at iimes. Wheat's action ap- parently ignored further pessimistic crop reports from major producing re- 2 | glons in the Western Hemisphere. Wheat closed % to 1 cent lower compared with yesterday's finish, De- cember 897;a89'4. and corn varied from 233 off to “s higher, December 57138571, Oats lost 's-12, rye Y- | and barley was unchanged to 1 cent off. Provisions were higher. Open. Hish A1y LRR3, T poi 2 KTEN TES— van 2000 soie €hicago Cash Market. Cash wheat: No. 3, red, 89%: No. 2, | hard, 1.03%; No. 3, hard, 1.10a12 | No. 3, mlxed tough, 91 (70 per cen hard); No. 4, mixed, tough, 921, (80 per cent hard); No. 3, mixed, 87 (81 per cent white): No. 5, mixed, 79! (82 per cent soft). Corn: No. 2, yel- | low, 7612a77; No. 3, yellow, ;Gu Oats: No. 4, | white, tough, 252 Nu 2, ‘hne 29 No 3, whlu 21-29’ : sample grade, 2153526‘ : no rye; no buckwheat; | soybeans, No. 2, yellow, 62; net track, country stations, new, 56; barley nom- inal feed, 34a45, malting, 42a63 timothy seed, per hundredweight, 2.75; | clm‘ar seed, per hundredweight, 10.25a 16.00. E] Sept Liverpool Grain Prices Baltimore Quotations. BALTIMORE. August 28 (P .—Cloge. ear oo 3 red Wirter.. garlicky, spot. domestic, August, 83%. New York Cotton By the Associated Press. NEW YORK, August 28—With traders awaiting more definite indi- cations as to the effect of the new cotton loan program on the early mer- chandizing of the crop, trading in futures today was quiet, with fluctua- tions narrow. The price of Decem= ber ranged from 10.51 to 10.58 during the greater part of the day, and was holding around 10.51 in the late trad- ing. Active months were about net unchanged to 3 points lower. Pul losed steady, 2-6 lower. e High" " Low " Closs. 10.8 1050 1051 Booi auiet: middiing. 10.05. n—Nominal. Cottonseed Oil. Bleachable cottonsecd ol futures closed htndy September. 10.16b: October. 10.11; mber, B.O%D: Janiar 'b sales. 57 contracts. Liverpool Quotations. l.xvmr.?ol.. August 28 (p.—Cotton, 24.000 lnchldull 3,900 American. jpot in _fair demand: prlou 5 points Ilover. ououunm in Amncm + sood middling, 6.7 t__middline. 'S‘e\on ‘a':‘s Decem S.64: Marcn. 5.65: Mas. b