Evening Star Newspaper, September 3, 1935, Page 14

BANK OBSERVING [26TH BIRTHDAY National of Washington, Founded in 1809, Has Enviable Record. BY EDWARD C. STONE. The National Bank of Washington is observing its 126th birthday anhi- versary today amid the plaudits of a host of patrons who paused in the. lobby at the main office long enough to extend hearty c on gratulations to President George L. Stark- ey and the other members of the bank’s staff. The bank was founded on Sep- tember 4, 1809, and has render- ed continuous and expanding service ever since. In the early days such celebrated statesmen as Daniel ‘Webster and Henry Clay were among the institution’s depositors. The flrsLI meeting of directors was held on September 12, Daniel Carroll being the first president and Samuel Eliot, ir., the first cashier. Few banks in the United States have a more fasci- nating history. To come down to the present day, deposits on the date of the control- ler's last bank call, June 29, 1935, totaled $8,891.319.19. In addition to the main office, the bank has one thriving branch. The present official staff includes: Clarence F. Norment, chairman of | the board; George L. Starkey, presi- dent; James Trimble, vice president; J. Prank White. vice president and cashier; Edmund H. Graham, John Alden, William E. Howard and Ruth- erford J. Dooley, assistant cashiers; E. C. Brandenburg, general counsel and trust officer; Odell S. Smith, secretary, and Everett H. Parsley, auditor. The board of directors is composed of J. M. Beavers, E. C. Brandenburg, Henry N. Brawner, jr.; Wrisley George L. Starkey. Prev. 1936 High. 165 ™ 738, 29% Brown, J. Edmund Cammack, Max Fischer, Maurice F. Flynn. G. W. Forsberg, George B. Go Frank R. Jelleff, Michael A. Keane, \‘ln'L‘l Lansburgh, Morris E. Marlow, Arthur J. May. W. Clarence Miller, Clarence F. Norment, Clarence F. Norment, | jr.; Harry Norment, George P. Sacks, Charles Schafer, John Scrivener, Odell S. Smith, George L. Starkey and James Trimble. Chipman Home From Maine. | G. Bowie Chipman, manager of | the Washington office of Laidlaw & | Co., who spent the past two months @t his Summer home in Maine, on | Penobscot Bay, was back at his office inthe finan- cial district to- day. He was more enthusiastic over his vacation than | in the immediate | outlook for the | stock market. Mr. Chipman stopped off in Wall Street on his way to Wash- ington. From| conversation with | G. Bowie Chipman. 0 F0 ok ers, he found 1t was their opinion that the market may already have discounted the adjournment of Con- | gress and the rise that was antici- peted in some quarters, i The Washington oroker holds much | the same opinion, looking for some kind of a setback before the advance | is resumed. He feels that the Fall pick-up in business may have been pretty well discounted. For the long | pull, however, Mr. Chipman has much more confidence. | All the brokerage houses were filled with traders and investors today, eagsr | to watch the action of the market during the first September session. The *big New York traders” are now sup- posed to be back from their vacations. Trade Outlook Cheers Bankers. “Trade news is ravorable and busi- ness men are examining the Fall prospect with unusual interest. Whether this confidence is the cause or effect of improving conditions is unimportant; it is enough to know that the two have been going along together. There is nothing, however, | in the present situation justifying an early boom, and, if anything of this kind occurs in stocks, land and me general price level, it would be un- | fortunate.” The above view is presented by the American Bankers' Association maga- zine in the September summary of‘ business conditions. “The cnurage‘ now in evidence seems quite differ- ent from previous instances from whistling in the dark.” Turning to | the bank bill, the review adds: “While the banking act of 1935 is distinctly a compromise, it is also distinctly constructive. It has pre- served intact all the good points in | the Federal Reserve System as de- veloped in over 20 years' practical operations and has corrected some | of the weak points which the cper- | ations of 20 years have disclosed. It | has met all legitimate demands for liberalization of credit while retain- ing safeguards for credit control and | sound collateral for the currency. | “The act has met all legitimate de- mands for the centralization of con- | trol of credit and currency in keep- | ing with the trend of the times. It| has strengthened supervisory powers where more strength was needed and its general effect is to establish & more compact and manageable bank- ing system without depriving unit banks of privileges they have enjoyed and valugd. It is by no means a per- fect banking instrument, but it is an improvement upon the system it succeeds. “Statistically, the position of the country in this particular business cycle is well up from the low points of 1932-1933 and is rising toward what should normally be a period of sub- stantial growth in national wealth and higher living standards.” Today’s Trading on Exchange. Capital Traction 5s were in demand on the Jashington Stock Exchange today at rising prices. Two $500 sales took place at 98, followed by two $1,000 transfers at 98'2. Washington Rail- way & Electric 4s figured in a 35000 sale at 105%%. Potomac Power 5'2 per cent pre- ferred moved at 113', Riggs Bank common at 216, Potomac Power 6 per cent preferred at 109'¢ and Capital Transit at 17 on a 31-share turnover. DU CARLOADINGS. Tneniae: ORK. September 3 (. i Bréy. “Lary f‘f‘l“"hv{ t‘lfloldlflll on r-flron today for PRI N Ai{ 55k desi uwnn or week ended August 109 6% 26% 174 11 121t Brown Shoe pf (7) 603 a2 - 1ou 28% te wire lll;1 to The lm. ales— Add 00. High. 23 8 k and Low. Dividend Rate. 414 Adams Expre: = 28 Adams Millis 8 Adausurhulbc). 415 Advance Rumely 6% Affiliated Pro (60c). 1, Air-Way Elec Appl.. 15% Alaska Jun (160c) .. 11 Albany Wrap Paper 2, Alleg Corp (d) . - 2%, Alleg pf w830w (d). 2 Alleg pf wi40w (d). 1% Alleg pf xw (d) __.. 21 Allegheny Stl (1)__. 125 Allled Chem (6) .. 3% Allled Stores 49 Allied Stores pf (5). 12 Allis Chalmers _ ~ Amal Leather 41's Am Ag Ch Del (2) 13'; Am Bank Note 43 Am Bk Note pf (3). 21 Am Brk Shoe (1) 110 AmCan (14) 10 25'; Am Car & Fdry pf.. 8 Am Chain 66 Am Chicle (13) _ 22!; Am Comel Alcohol.. 62 Am Crystal Sugar__ 57% Am Cryst S pf (a3). 72 AmCrysS 1st pf 6. % Am Encaustic (d)-. Am & Foreign Pwr_ Am & For Pw $6 pf. Am & For Pw $7 pf_ s Am & For Pw 2d pf. Am Hawaiian S8(1) Am Hide & Leather. Am Hide& Lpf.. . Am Home Pr (2.40). Am Ice . Am Ice pf (8) Am International 9 Am Locomotive % Am Mch & Fy (80c) Am Mch & Metals . Am Mch & Met vte Am Metal » Am Power & Light_ Am Pw & Lt $5 pt {Am Pw & Lt $6 pf_. 2 Am Radiator « Am Rolling Mills Am Seating vte % Am Smelt & Ref _ AmS&R 6%pf 1131 Am Snuff (13) _ Am Snuft pf (6) Am Steel Foundry 4 Am Sugar (2) : Am Sumat Tob (t1). Am Tel & Tel (9)_ Am Tobacco (5) Am Tobacco B (5 Am Tobacco pf (6) Am Type Fdrs (d) .. Am Typg F pf (d) Am Water Works Am Wat W 1st (6)- Am Woolen . Am Zinc & Lead __ Anaconda Copper. 215 Anchor Cap (60c) Anchor Cap pt(61%). Archer Dan M (11)_ Archer Dan pf (7) Armour Del pf (7) 31 Armour of Ilinois 554 Arm'r (111)pr pf () 16': Armstrong Cork 50¢ l Arnold Constable 2 Asso DlvGooflS IR Asso DG 2d p! " Atch To&S l"‘o (a2). 66% Atch To&S F pf(5). 19': Atlantic Coast Line. 215 Atlantic Ref (1) 32% Atlas Powder (2)-. 4 Atlas Tack 15 Auburn Auto__ 2%, Aviation CorDlDel) 1'; Baldwin Loco (d)_- 712 Baldwin Loco pf (d) 713 Baltimore & Ohio__. 91« Baltimore & Oh pf__ 106 Bang & Aroos pf(7) 57 Barnsdall Corp 14!+ Beatrice Cre (a50c). 11' Belding-Hem(a50¢). 117 Bendix Aviation 15% Beneficial Lo (1%3). 34 Best&Co(2) __ % Bethlehem Steel .. *« Beth Steel pf(al%) 14%, Bigelow-San Corp.— 9% Blaw-Knox 103% Bloomingdale pf(7) 61« Boeing Airplane __ 295, Bohn Alum &Br (3) 90 Bon Ami (A) (T4)__ 42 Bon Ami (B) (12) 21 Borden Co (1.60) 281 Borg Warner (1%). Bridgep't Brass 40c 241; Briggs Mfg (2) 2612 Bklyn-Man Tr (3) 90 Bklyn-Man T pf(6). 43 Bklyn Union Gas(5) 53 Brown Shoe (3) 3% Brunswick-Balke 815 Bueyrus Eriecv pf_. 31, Budd(EG)Mfg . 23 Budd(E G)Mfg pf 21; Budd Wheel . 8% Bullard Co.. 3% Bulova Watch_. % Burns Bros(Aj(d).. 3 Burns Bropf (d) .. 13% Burr Add Mch(60c) 1's Butte Copper&Zine. 11% Byers (A M) . _ 32 Byers (A M) of. 3013 California Pkg(1%) 1, Callahan Zinc 213 Calumet & Hec Ti; Camphell-Wy a4 8% Can Dry G A (40c) 9% Canadlan Pacific. 45% Case (J 1) Co_ . 3615 Caterpiliar Tr (11)- 19%; Celanese Corp. .. 11% Celotex Co pf (d).. 34 Central RROfNJ. 614 Century Rib Mills__ 38% Cerro de Pasco (4)— 3% Certain-teed Prod .. 23 Certain-teed Pr pf_ 3714 Ches & Ohio (2.80) 36_ Chesapeake Corp(3) 75 Chi & East Il pf (d) % Chi & Grt West (d) 15% Chi Mail Order (11) % Chi Mil StP&P (d). 2 Chi M StP&P of (d) 1% Chi &N W d) 4% Chi Pneumatic Tool 20 Chi Pneu Tool pf % Chi R 1&Pac «d) 2513 Chickasha C O (2)-. 3 '. 3:udsCo 3 9 1le Copper . ... 31 Chrysler Corp (11). 16 City lce & Fuel (2)_ 85 City lce&F pf(6%). 15% Colgate-P-P (50c) 9 Collins & Alkman __ 693 Collins & Atk pf () 12 Colo Fuel & Ir (d) . 5 Colo F&1lpf(d) .. 3% Col Gas & Elec 35% Col G & E pf A (6).. 3415 Colum Pic vte (1) 67 Colum Carbon (4) 3915 Comel Credit (2%)_ 561 Comel Inv Tr(72.80) 97% Comel In T pf(4%)- 17% Comcl Solv t16v¢) % Comw & Southern. 291y Comw & Sou pf (3). 27 Congoleum-N(1.60). 9 Congress Cigar._. 7 Consol C}, 62 Consol Cigar pf (7). 3% Consol Film 14% Cons Film pf(11%). 15% Consol NY (). 72'% Consol Gas of (5) 6%, Consol Oil (a2ie) ... 215 Consol RR Cuba pf. 12 Consol Textlle 8% Container Corp (A). 274 Container Corp (B). 4% Contl Baking (A)... % Contl Baking (B)__. 62% Contl Can (2.40) .. 7 Contl Dia F (a30¢). Am Car & Foundry_ * [ S Fearatne - [T P 360s 7 2 13 10s 28% Contl Insur (11.20). « %, Contl Motors __ 15'4 Contl O Del(a37%¢c) 41% Corn Ex BK&TT (3) 62 Corn Prod Ref (3).. 4% Coty Inc 35% Cream of Wh (2) 1215 Crosley Rad (a25¢). 23'% Crown C&S (1) .. 313 Crown Zelleb'k vte. 14 Crueible Steel 4015 Cuban-Am Sug pf-. Publishing_. 30% 13 13 % 1% 16% 18 THE EVENING STAR, 1+ R | ++ A ) (& 2 +i1++1 o vl 5 S I —ro SRS EFEF ERFaE & FaR «Prev. 1933 Low. 22% Deere & Co. . 19 Deere&Co pf (375¢)- 231 Delaware & Hudson 1i Del Lack & West__. 65 Detroit Edison (4). 2613 Diamond Mtch t1%. 344 Dome Mines (1 6% Dominion Stor: 17'; Douglas Alr (a75c). 86% Du Pont (13.60)_ 3% Eastern Roll Mills, 152 110% Eastman Kod (t5) 247 16% Eaton Mfg (1) 29 19% Electric Auto Lite_. 37 Electric Boat . 5% Elec & Mus Ind..... 1i« Elec Pw & Lt 21; Elec Pw & Lt § Elec Pw & Lt 37 pr 39 Elec Stor Bat (2%). h Elk Horn Coal (d) 5 Klk Horn C pf (d) 1'12 125% En dicott-Joh pf(7). « Engineers Pub Sv Stock and 8% Ty ErfeRR._ 81 Erfe R R 1st pf 10 Eureka Vac C (80¢). 23% 15 Evans Prod (al) 9y 4 Fairbanks Co pf. 26'; 17 Fairbanks Mor: 19% ‘fluFedleTr.._ 85 48 '3 Y 25 413 114 74 Fed Water Sve (A). 16's Fed'd D Strs (160c). 2813 Fid Ph F In (11.20) 106'4 Filene's S pf (6% 84'3 Firestone pf A (6) 45% First Nat Strs (2%) 2% Follansbee Bros(d). 20% KFood Machine (1) 97, Foster-Wheeler __ €07y Foster-Whecler pf 19% Four Nat Iww al.10 K% Fox Film (A) o 30' Frank Sim pf $3% 28'3 174 Freeport-Texas (1). 12 4% Fuller Co 2d pf —— 2% s Gabriel Co (A) 9% 7 GamewellCo.. 53 Gen Am Investors. 328 Gen Am Trans(1%) 11% Gen Asphalt. . 7' Gen Baking (60c) . 5'4 Gen Bronze. 2 GenCable 4 GenCable (A 19 Gen Cable pf 50 Gen Cigar (t4) 20'3 Gen Electric (60c) .. 32' Gen Foods (1.80) . '« Gen Gas & El ( en Ital Ed ( s Gen Motors ( 7'z Gen Moturs pf (5) 3 Gen Outdoor Adv._ 10 Gen Outdoors Adv A 173, Gen Print Ink(1.60) Gen Print Ink pf(6) 1's Gen Public Service_ 15% Gen Ry Signal (1) 4, Gen Realty & Util__ 14% Gen Real & U pf ww 16% Gen Refractories .. Gen Stl Casting pf_. Gillett Saf Raz (1)~ '\ Gimbel Bros Glidden Co (11) _ Gobel (Adolf) (d) 15% Goodyear T&R 213 Gotham Silk Hose__ 1's Graham-Paige 21 Grand Union . - 14%, Grand Un pf (1%) . '» Granite City Stl (1) Grant (W T) (11)-- 9% Grt Northernpf 915 Grt North Ore (50c) 32% 26% Grt West Sug (2.40) 140 119 Grt West Sug pf(7) 551 201 Greyhound Corp_ 28 12 Gulf States Steel__. —_— 24% 16 Harbison Walk (1). 12% 5'; Hat Corp of Amer__ 4% 1% Hayes Body ... 5's 11 Hercules Mot (60c). 71 Hercules Pw (13)__. 5% Holland Furnace 6% Holland & Son (50c) 307 Houd-Hersh (213) A 6's Houdaille-Hersh B 9'x Houston Oil . 1!; Houston Oil (new)_ 43 Howe Sound (3).__. 6% Hudson Motor Car. 3, Hupp Motors __ - 17 91, Illinots Central 231, Indus Rayon (1.68). 60'; Ingersoll-Rand (2). 46% Inland Steel (12) _o 21, Inspiration Copper. 8% Interboro R T (d)-— 414 Interlake lron_____. 19% 8% 5 2% Int Agricultural 42% 26 Int Agricul prpf_._ lhl » 149'¢ Int Bus Mach (76) . 7% 3% Int Car'rs Ltd (20¢) 33 22 IntCement (1) - 56% 34's Int Harvester 60c) _. 4% 1% Int Hydro Elec (A) 3% 17 Int Merch Marine _. 29'; 22% Int Nick Can)(80c . 3 1% int Paper & Pw (A). 113 45 Int Paper & Pw (B). 12% 415 Int Paper & Pw pf_. 28% 211, Int Print Ink (1) 5 24 IntRy CA(A)ctfs.. 18!3 9% Int Ry C A pf.. 481 42! Int Shoe (2) -ceemen. 28 16 Int Silver. 12% 5% Int Tel & Tel 1615 8% Intersttae Dep Strs. 49 Jewel Tea (3) 68 3813 Johns-Manv (a50c). 821 50 Jones&Laugh?%pf- —_— 8% 3% Kans City Southn _ 211 15% Kayser(J)&Co ad0c. 2313 6 Keisey-Hayes (A)_. 31 Kelsey-Hayes (B)_. 10% Kelvinator (150¢) 84 Kendall Co pf (16).. 13% Kennecott C (60c) 23 Kinney (G R) Co pf. 2 Kresge Dept Strs_.. 26% 19% Kresge (SS) (1) 113 103 Kresge (S S)pf(7).. 324 224 Kroger G&B (1.60) 27 282 12 LacledeGasSt L__. 22% Lambert Co (3) - 813 Lee Rub&Tire (50¢) 1's Lehigh Valley Coal. 5 Lehigh Valley R R 10% Lehn & Fink (132)._. 612 Libby McNeill & L. 213 Lib-O-Ford G1(1.20) 93% Ligg & Myers (14)B 13'2 Lima Locomotive.. 17% Link Belt (80C) —pe 2412 Liquid Carb (11).ea 31% Loew's In¢ (2) cceea 1 Loftlnc 33 Loose-Wiles (2) 18Y Lorillard P (11.20). 10% Louisv G&EpfA 1%5. 4 34 Louis&Nash(a2%). 12% Ludlum Steei . __ 90% Ludlum Stl of (6%) Dividend Rate. Md 04_!’ 13 45% 7% McCrory Stores (d). 363 Mclntyre Porcu (2) 903 McKeesport T P (4) 5% McKesson & Rob 32 McKesson & Rob pf. 815 McLellan Stores___. 18% Mack Truck (1) 3013 Macy (R H)&Co(!) 5% Mad'n Sq Garalsc.. 18% Magma Copper (2) 29 Man Elev gtd (d) . 13% Man El md gtd (d)_. 10 Manhat Shirt (60c). 1 Maracalbo Oil Exp_. 5% Marine Mid1d (40c). 6% Marshall Field & Co 23% Mathieson Alk(1%) 35% May Dept Str (1.60) 51 Maytag Co.___ 321, Maytag xw (33%)-. 8413 Maytag 18t pf (6).. 3 Mengel Co. 20% Mengel Co pi 1 241 Mesta Machine (2)_ 215 Miami Copper i 915 Mid-Cont Pet(al5¢) 8% Midland Steel Prod. 58 Minn Hon R (13)__. 374 Minn Moline Pw.... % M St P&S S Marie.. 104 Mission Corp... 1% Mo Paclfic pf (d) __ 10% Mohawk C M (a25¢) 55 Monsanto Chem(t1) 21% Montgomery Ward. % Mother Lode - 1714 Motor Products (2)- 715 Motor Wheel (60c).. 91 Mullins Mfg (B)--- 4% Murray Corp-. 19% 1 Hullnmn(uz) 10 11 88‘: s Bww mRRoeND 118% UGM 7 6% 149Y% 149 23 268 815 6% b - FeruRsaSran powsnankBnessnaniomead 11% 3T 118% 6% - 12t po 0© ;BN e 'Y S H ml'a 5 38 34% 5 10% 19% 102% 4% 1t 12% BT% 27% 35% 16% 9314 - 38 flBH 30"6 17 6% 149 23% 26% @, 107 2 14 291 96 887 4 184 11% 3T 118% 7 39% 101‘1 10% 1% - 14% — WASHINGTON, Low. Close. CHI‘ % = % % % % +§i # shares. D. C, Prev. 1628 High 8% 10% 4 . 1 331 224 Nat Biscuit (1.60).. 12 1815 13% Nat Cash Rz A(50c) 6 17% at Dairy Pr (1.20) x 108 106'; Nat Dairy PDfBl'I) x lOl 4% 113 Nat Dept Sto: 34% 17 Nat Dept Sitrs ntm) 29% 234 Nat Distillers (2) 14% 4% Nat Pw & Lt (80¢c).. 68% am. Nu Steel (11) 207 Supply Co 128 0c) 31% mer Bros (1) 11815 109 Newberry J J pf(7). 28% 1815 N Y Afrbrake ___ 25% 124 NYCentral RR - 13 6 NYChicago & St L. 25 OUNYChi&StLof _ 11 4 NY Dockpf __ 81y 2% N Y N H & Hartford 6 NYNH& Hartf of U NY Rwys pf stpd 6'sx N Y Shipbuilding . 30% Noranda Mines (2). 2 North Am Aviation 9 North Am Co (1) 35! North Am Co pf (3) 13' Northern Pacific —_— 9% Ohto Ol (a15¢c) . 16% Oliv Farm Eq(new) 315 Omnibus Corp . 4% Oppenheim Collins.. 11% Otis Elevator (60c). 1 Stock and Dividend Rate. ua 00. 9 » K 108 2 91 8y 81y 22 17'4 4% Otis 843 22% Otis Steel IJr f - 104 80 Owens-Ill Glass(4). — 17'« 14 Pac-Amer Fisherles 28% 13% PacificG & E (1%). Pacific Ltg (2.40) Pacific Mills i Pac Wn Oi} (bi0e) . : Packard Motors - Param’t Pie (new) _. Param’ePic 1st pf & Param’t Pic 2d pf__ Park & Tilford Park Utah Pathe Film Corp Patino Mines 64'; Penick & Ford (3) 57" Penney J C (2) 2' Penn Coal & Coke. 17% PennRR (1)___ 12% Phelps Dodge(a25¢) 23 PhilaCo 6% pf (3). 3'2 Phila Rap Tr pf(d). 1% Phila & Read C&I__. Philip Morris (1) 13% Phillips Petrol (1).. *« Plerce Petroleum _. 10'¢ Pitts Term Coal pf._. 1'« Pitts United Corp... 24'; Pitts United C pt. 1 Pittston Co Plymouth Oil .. « Poor & Co (B) __ « Porto R Am TobiA) 4‘ Postal Tel&C pf (d) 6'; Pressed Stl C pf (d) 2% Proc & Gambl (133) Pub Sve NJ (240)_. « Pub Sve N J pf (5)_ Pub Sve N J pf (6) Pub Sve N J pf (7)., Pullman Ine (3) Pure Oil b 49% Pure Oil 8% pf_ &% Purity Bakeries (1) 4 Radio Corporation 50 RadioC'PpfA (3%)x 9 5% Radio Corp pf B 18 1t Radio-Keith-Or (d) @ 4' R R Sec 111 Cent 162 Raybestos-Man (1) 20'x Real Silk Hose pt _ 7 Remiazton-Rand 21% Remington-R pr pf 69 Remington-R pf (6) 214 Reo Motor Car____. 9 Republic Steel.____ 28% Republic Steel pf__ 28 Republic Stl pfcod. Revere Copper Revere C & B pf. 2eynolds Metals (1 eynolds M pf (51 124 Reyn'lds Spring(1)- 431 Revnolds Tob B (3) 44% 29': Royal Dal.70 1-10c. 46 36% Safeway Stores (3) | 113% 1043 Safeway Strs pf (6) 221 10% St Joseph Ld (40¢)- 2 St L-San Fran (d) .. 2% St L-San Fr pf (d)-. 11 Savage Arms Schenley Distillers. Schulte Retail Strs_ Scott Paper (1.80)_ Seaboard Air L (d)_ aboard A L pf(d) Seagrave Corp _ __ Sears Roeb’k (a75c) Servel Inc.____ Sharon Steel Hoop Shattuck(F G)(25¢) Silver King C(40¢)- Simmons Co Simms Pet (a50¢) - Sloss-Sheffield . ___ Sloss-ShefMeld pt. Snider Packing ... Socony-Vac (30¢) - Sou Porto R Sug(2) Sou Porto R S pf(8) South Cal Ed (13%)- Southern Pacific - Southern Raflway.. Southern Rwy pf__. Sparks-Withington 4« Spear & Co____ Spencer Kell (1.60). Sperry vte (a25e) . Spiegel-May-Stern_ 13% Stand Brands (80¢). Nes. Low. Close. eu- % % — 9 9 2854 5 DK le#i+ % A% LI+ 1+ ++1110 83, 31y 8 12 2 407, 2 981y 2 109, . 5% 28% 55 4’ ‘rlul 1z 13‘4 Wi Prev, 1935 High. Low. 11:00 AM....oe 1:00 P.M . cash payments declarations. s Unit of trading less than 100 shares. exira. 3 Accumuiated dividends. year. Teorganized. TUESDAY, SEPTEMBER 3, 1935, Stock and Sales— 2% Stand Com Tobacco. 1% Stand Gas & Elec_.. 1% Stand G & E $4 pf. 4% StPnd G& E $6 pf__ 6 Stand G & E $7 pf. 27% Stand Ofl of Csl (1). 23 Stand Ofl of Ind (1) 22 Stand Oll of Kan___ 35% Stand OLI N J (11)_. 121 Starrett (L S) (1) . 58% Sterling Prod (3.80) 1% Sterling Secur (A)-. 3% Sterling Secur pf__. 6% Stewart-Warner_.. 2'2 Stone & Webster... 21 Studebaker Corp__ 115% Sun Oil pf (6) _ 11 Superheater (50c)-. 1% Superior Oil 14% Swift & Co (150¢) .. 1% Symington (A)(d). 4 Tennessee Corp 165 Texas Corp (1) 28% Texas Gulf Sul (2). 14 Texas&PacRR.__. 3% Tex Pac Coal & Ofl. 8!5 Tex Pac Land Trust 13% Thatcher (1) 2'3 Thermoid Co. 5% Thomp'n(JR) (50¢). 13% Thompson Products 1% Thompson Starrett. 7% Tide Wat Asso Ofl_. 84 Tide Wat A O pf(6). 4% Timken-Detroit 28% Timken R B (1) ___ 4% Transamerica(30c). T4 Trans & Westn Air. 174 Tri-Contl Corp » Truax-Tra Coal. 312 Truscon Steel 20th Century Fox 25 20th Century Fox pt 18 TwinCity RT pt — 53% Und-Ell-Fisher (2). 29 Union Bag&Pap (2) 44 UnCarb&C (1.60). 14% Un Oil of Cal (1) "'. Un Pacific (6) - United Aircraft v, United Afr Line vte 20% United Bise (1.60) .. 46 United Carbon 2.40_ 1'% United Corp . __ 20% United Corp pf (3)_. « United Drug___. 4!2 United Dyewood 65 United Dyew pf (7). 65 United Fruit (3)___ 9% United Gas Imp (1) s U S Distributing .__ Dividend Rate. _ Add 00. High. 130 120% Stand Brands pf(7). 10s 128 2 33 23 - N TRammealicoar~ » - N P T TP LD O SR P PR RIS T ] 30s 5 U S Distributing pf. 20(!!( 4'3 US & For'n Secur .. Freight (1) E Gypsum (+1) 35's U S 1nd Alcohol (2 7's US Leather A vte__ 14% U S Pipe & F (50¢) .. 19% U S P&F 1st pf1.20. 3 US Realty & Imp 944 U S Rubber S 2 United Stores (A) .. 46 United Stores pf 51 Univ Leaf Tob (12). 1 Univ Pipe & Rad 4 Univ Pipe & Rad pf Util Pw & Lt (A) « Vanadium Corp 11% Van Raalte (a25e).-. 34 Vick Chem (12) 2 Va-Car Chemical 17'; Va-Car Chem 6% pf 7212 Va El & Pw pf (6) 414 Waldorf Sys (50¢) . 26% Walgreen Co (1.4 14 Walworth Co = 21, Warner Bros Pic___ 142 Warner Bros Pic pf 1 2'; Warren Bros ____ 20% Warren Fdy&P (2)_ 4 Webster Eisenlohr_ 30'; Wesson O&S (150c) 34 West Pa Elec (1)A_ 7 West Pa Elee pf (7) Western Maryland +« Western Pac pf (d). 20% Western Union 18 West'gh'se A B 60c. 32% Westinghse Elas0c. 10 Weston Elec Inst__. 16% Westvaco Chi “40¢) 14'c Wheeling Steel 46'; Wheel Stl pf(ill; 675 White Motor _ 6 White Sew Mch pf 1 Wilcox Qil & Ga: 3% Wilson & Co (az5c). 58 Wilson & Co pf (6)- 51 Woolworth (2.40) . 35'2 Wright Aero._____ 17% Yale & Towne (60c) % Yellow Truck - 31'2 Yellow Truck pf . 18 Young Sp& W (71). 13 YoungstownS&T. 1% Zenith Radio_ 2% Zonite Produc 600,000 2 49 508 6 4 3 439 2408 13 20s 1 108 10 20 1 "A—14 wx» FINANCIAL, 2 . . ) - A FINANCIAL, e e e e e T T e S e B R St e g S S e S A S A R S R e e R TR (A TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE Low. Close. ouu 1281 128% + % % W 6% T 16 185 25% 21 % 6% i+ LI Pidtai 1) ++0010 1 16 Approximate Sales of Stocks on the N. ¥ Stock Exchange. 240,000 12:00 Noon. 0 P.M 480,000 670,000 Total sales for the day. 900,000 d Companies reported x Ex dividend. Dividend rates as given n the above table are ased on the latesi quarterly or the annual haif-yearly + Annual rate— a Paid this vear. in receivership or being b Paid CORPORATIO REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS NEW YORK, September 3.—The ration news, prepared by Standard Statistics Co., Inc, New York. General American Transportation Corp.—Texas Co. is understood to have sold its tank cars to this com- pany and to have entered into a long- | term lease with General American quirements. Associated Gas & Electric Co.— Company notified holders of fixed in- terest debentures that it tentatively | has decided to terminate the plan of rearrangement of debt capitalization, | which has ben available to debenture | holders since May 15, 1933; enact- ment of Federal utility legislation by | | Congress, it was said, made advisable | an earlier culmination of plan than’| had been intended previously. Pittston Co.—Deficit, 6 months end- ed June 30, was $1,118,737, vs. deficit $114,503. Principal meat packers were named | in a suit filed in Superior Court, Chi- | cago, by a group of farmers seeking return of A. A. A. hog processing taxes | collected from them by the packers; suit attacked constitutionality of the | tax. Illuminating & Power Securities Corp.—Liquidating value on July 31, 1935, equaled $119.09 per common share, vs. $81.33 on July 31, 1934. Boston & Maine R. R—The 1. C. C. has approved the extension of a $7,- Boston & Maine R. R.; the loan ma- tures September 6, but extension to February 1, 1937, was approved by the commission; the road had requested approval of a three-year extension. Chicago, Indianapolis & Louisville Railway—Deficit, seven months ended July 31, was §$1,016,58¢ vs. deficit $1,195,123, Youngstown—Sheet & Tube Co.— Company has started fires in a blast furnace at its Campbell plant and is planning to start its Bessemer plant at the Campbell Works early in month. Imperial Tobacco Co. of Canada, !M—Dechxed an interim dividend of 1% g M-Il) ordinary | 38 following is today’s summary of corpo- | Transportation for its tank-car re-| SALES. Potomac Electric 5'2% 113%. AFTER CALL. at 105%;. | Capital Transit Co.—31 at BONDS. Amer.. Tel. & Tel 4'as_ | Am. Tel. & Tel. col. tr. Anacostia & Pot. 35 Ana. & Pot Guar. Bs_ & P Tel. of Va. 35- Eaditai Traction K R mny & Suburban eorgetown_Gas 1st 55___ Pot. Elec. Pow. Cons. 5s. Pnturl;nlc Elec. | wi | Barber & Ross, Inc.. | Chevy Chase Club '3 Cold Storace Washington Exchange! pid—10 at Riggs Bank com.—1 st 216. Washington Rwy. & Elec. #5—$5,000 | gen,° Potomac Electric 6% pfd—3 at 109%. Bid and Asked Prices. PUBLIC UTILITY. Allis-Chalmers Co. 55 10 Amer, Bee: Sugar s Am Tel. Atlantic’ Refini Pub. 17. Louisville & i & Ohio River R | Werr R PP 555211 e ! a3 Bethichem Steel 55 1 Caiifornia Packing Capital Traction 55—$500 at 98, $500 g{;‘;r;,fludwg & at 98, $1,000 at 98', $1,000 at 98'3. | Eu:scn El. IH\lfn ~n B a 6 Great Northern Ry. Illinoi; Central 6'3s 1t | Intl, Tel & Tel e % Lehfen Valley Goal Nash. Michigan Central 45 Ch St L. New YOk Dock 55 1948 5s 1936 Penn-Dixie Cement s 1441 R Ry SHORT-TERM SECURITIES. (Reported by Chas. D. llrnegv & Co) Ofer. 101 10 s B2 10 5o T 16 10i% 1063, CLOSING IS HEAVY INSTOCK MARKET ?Profit Taking and Drop in Bank Stocks Among Fac- tors in Trading. STOCK AVERAGES lndul Rnl 1) (l Net change. — l' . o Today, close_ 64 6 Prev. day._ 65.1 Month ago. 64.0 Year ago... 434 361 476 366 48.0 360 47.2 279 38.0 393 49.1 216 3438 406 51.4 242 349 239 169 516 953 618 618 (Compiled by the Associated Press.) By the Associated Press. NEW YORK, September 3.—Quiet profit taking depressed leading stocks in today's post-Labor day market ses- sion, but scattered specialties resisted the trend. Dullness of the list under realizing helped to buoy the spirits of | the more optimistic. The close was somewnat heav ‘Transfers approxi- mated 900,000 shares. 569,437 loan from the R. F. C. to the | | Gol. (Country Club S w. STOCKS. Amer. Tel. & Tel. | Gamital Transit_Co. & W. Steamboat (£)_ Pormle. Pow, i pfd. ( Po. El. Pwr, 512% Wash. Gas Lt Co. %l 1 RES - Washis mm (6)_ Wash, Loan & Tr. (8- FIRE INSURANCE. Firemen's lumbia (.30) S Estate” (012 b ug 8. secumy B\or: 3 Swd & t:":mm M1 300 irop Bid. (1)- NEW YORK, September :I w—| crude rubber futures opened weak, | lom September, 11.41; Oc- ; December, 11.44-86. | Roek Sorings. 4: steady; ‘extra firsts : 3i: "[resh eraded Mrats . 2512: current receipts. 214 | Poultry, Tive. 43 trucks; unsettled: hens. | Sounds and less. 20: more than 413 hens. 15: Plymouth White Rocks, 19a70; k Trvers. 1Ra20: Kk broilers. 1a: olort 153015 Leghorn chickens: all, IX; hen turkeys 18a19; 2: Roc! blrehnks colored._ | B ¥ . 32 steady” supplies mi , mand and irading moderate: Siciie d'.-‘ Hundr special packs. standards, 2715; firsts, mediums, 25. lnllltd (&) Cheese, 261 709; whole A temporary decline in steel produc- tion, as reported by the American Iron & Steel Institute, was in line with ex- pectations. Output for the current | week was estimated 2.1 points under that of last week. At the rate of 45.3 ! per cent of capacity, however, it com- pared with 18.4 per cent in the corre- sponding 1934 week. | A drop in bank stocks and sagging tendencies displayed by United States Government bonds did not brighten the picture. Early carloadings figures | for the past week indicated & sub- stantial increase in shipments. The foreign situation was still confusing. Domestic problems were considered imore important. Wheat was rather steady, while corn and rye pointed downward. Cotton moved listlessly. Rubber futures were off sharply in sympathy with London selling. Leading foreign exchanges recovered after early easiness A number of shares were accorded moderate support just before the fin- ish. International Business Machines got up 3 points, Columbian Carbon gained about 2 and Liggett & Myers “B" and United Fruit advanced around 1 each. Paramount Pictures, Fox Film, R.-K.-O. and Warner Bros were exceptionally active, but did not get very far Western Union lost 2 and others off fractions to a point or so. xiclude Chrysler, General Moto! American Water Works, Consolidated Gas American Power & Light, Santa Fe. New York Central, United States Stee! | Bethlenem. International Harvest Case, Westinghouse aud Johns-Man- ville, ew York Cotton By the Associated Pressq | NEW YORK, September 3.—Cotton was quiet today, with prices holding steady in a narrow range. THhere was a little liquidation and Southern sell- ing at the opening, byt it was ab- sorbed on declines of 3 to 6 points and prices later rallied on trade buy- ing and covering. The midafternoon market was quiet within a point or two of Saulrda\ 's closing quol tions. 1047 1042 Cottonseed Oil. Bleachable cottonseed oil futures closed weak. September, 9.82b; Oc- tober, 9.77a78: December. 9.62; Jan- uary, 9.61; March, 9.66a67. Sales—97 contracts. b—Bid. | Liverpool Quotation; | |oLIVERPOOL. September 3 ). —Cotton. 10000 bales. including 300 American spot moderate business done Bnrfl 1 point higher: quotations in pence: Amer- ican strict zood midalice. 6.66: good mid- dling. 6.36: strict middling. 6.21: mid- | ling. ‘6.0 :strict low middling 3.96: midalin; 1: strict good ordinary. 5. Futures eady low STEEL PRODUCTION DROPS. | NEW YORK, September 3 (#).— The American Iron & Steel Institute | estimates steel parocuction during the current week at 458 per cent of ca- pacity, compared with 479 per cent in the preceding week and 18 per cent in the same week a lear ago. MONEY MARKET. September P —Call Der cent all day. time 200 days. s offered: 4-f offered. _ Prime commercial 3 Der cent. Bankers' accepiances nged: 30 davs.” s £0-00 days. four ‘months. Yea’: 3-6 months. i, Rediscount rate. New York Reserve Bank. 17; per cent . PHILADELPHIA PRODUCE. PHILADELPHIA. srmpmber 3 A | ter. top grades nail; # score, &a'score. DIRECTORY COMMODITY BROKERS COTTON Member N Y. Cotton Exchange Laidlaw & Co._. 5 L) . 0 GRA| Members Chiulo Bolrd of Trade Laidlaw & 5 Westheimer & Co LI RUBBER—HIDES—METALS—SILK Mempers Commodity Exchange. Inc. Laidlaw & Co. DI, 2! Westheimer & Co. 'HY trouble yourself “with the details of management of your apartment house and residential properties when our Property Management Depart- ment will segve you so satis- factorily—and for such small fee for the service? B. F. SAUL CO. 925 15th St. Nat'l 2100 milk fiats. ta: beld, n:u fancy z': tals, 2 u cmem- ummnuav brnllm, 18 | s I pectals b&'m < Toosters. 15; o ks 6. 5 Mortgage Loans