Evening Star Newspaper, September 17, 1935, Page 18

A—I8 *¥¥ REPORTS SOUGHT Marked Progress Reported. Capital Leaders Take Active Part. BY EDWARD C. STONE. Marked progress is reported by the committee working on the standardi- gation of bank reports to meet the re- quirements of the controller of the currency, Federal Deposit Insurance Corp., State bank commissioners, Re- construction Finance Corp. and a host of other agencies which for one reason or another want to know the condition of all banks in the United States at stated periods. _At present there is a vast amount of duplication of effort following every condition call by the controller of the currency. Some of the States ask their home banks for quite a different set of figures from those asked by the Treasury. It all costs the banks a lot of extra money and the time of many clerks to get the report up in so many different forms. For several months a special com- mittee representing the banks and the interested Government agencies has been working on the problem.” Two active Washington bankers and other financiers residing here have given a great deal of time and thought to the subject, the Permanent Standing Com- mittee being composed of the fol- lowing: Herman B. Wells, for the National Association of Supervisors of State Benks, chairman of the committee; M. J. Fox, jr., chief, Division of Re- eearch and Statistics, F. D. I. C, ‘Washington, secretary of the com- mittee; Edward L. Smead, chief, Divi- sion of Bank Operations, Federal Re- serve Board, Washington; George C. Haas, director, Division of Research and Statistics, Treasury Department, Washington; Philip R. Clarke, pres- ident, City National Bank & Trust Co., Chicago, for the Reserve City Bankers' Association; George O. Vass, vice president and cashier, Riggs Na- tional Bank, Washington, for the American Bankers' Association, and Arthur J. Linn, controller, Hamilton National Bank, Washington, for the National Association of Bank Auditors and comptrollers ‘The Burroughs Clearing House magazine sees a great saving to the banks, the Government agencies and the taxpayers when the work is com- pleted. It will take many months more. But a splendid start has been made. The two Washington commit- tee members are too modest to make any claims as yet regarding resuits, but they are free to state that the conferences so far held have been most constructive., Clearings in 44 Per Cent Rise. Bank clearings in some of the cities in the fifth Reserve district for the week ending September 7 are un- usually interesting because of the size of the changes. In Washington clear- ings totaled $17,059,968, against $11,- 933,709 a year ago, an increase of 44.2 per cent. Clearings in Washington in the same week in 1933 totaled $9,539,- 944, and $14,046,603 in 1932. Clearings in Baltimore were up 9.6 | per cent and in Charleston, W. Va., 9.3 per cent. Norfolk clearings were up over 7 per cent, but Richmond and Huntington, W. Va., reported slight decreases. In a summary by the Financial Chronicle, clearings in these six fifth district cities totaled $98,561,311, against $89,553,480 in the like week a year ago, an advance of 10.1 per cent. ‘Two years ago clearings in the same cities totaled $66,505,538. and three | Yyears ago more than $80,000,000. Ann Arbor, Billings, Sacramento, Elmira and Nashville were the only cities that did better than Washing- ton in percentage gains. Natural Forces Operating. Col. Leonard P. Ayres, in his monthly review, states that some of the natural forces of recovery “con- tinue to operate in placid fashion to hold business activity up nearly to the levels established at the begin- ning of the year. The American peo- ple continue to buy large numbers of automobiles and iceless refrigerators. They are traveling more freely and patronizing entertainments a n d | amusements more generally than theyl did in the earlier years of the de- | pression. They are buying more per: sonal and household goods at retail stores than formerly. The farmers | are having their best year since the depression started. All these factors sustain business.” Col. Ayres goes on to say that some of the natural forces of recovery are | still exerting only meager pressure 1n‘ the upward push of business. Three | of the most important factors, he| says, are export trade, railroad pur- chasing and building construction. He thinks an increase in building | would do more to promote recovery | than any other possible development. | It is worth noting that since his re- | view was written, Bradsireet's latest report shows construction at its height for 1935. Financial District Gossip. The probable payment of $114,000,- 000 for the 1935 crops on Virginia farms will be the largest total in six years, according to official estimates. The gamn in farm income will give the territory the best buying power since the depression started, Rich- mond forecasts say. Another Washingtonian who will attend the coming convention of the American Bankers' Association at New Orleans is Edgar E. Mountjoy, repre- gentative of the National Bank Divis- ion here. He has attended every con- vention for the last 15 or 20 years. Frank P. Harmon, jr.. as assistant vice president of the Hamilton Na- tional Bank, has returned to his desk from his vacation passed at Blue Ridge Summit. Rolfe E. Bolling, president of the Liberty National Bank, continues to register steady improvement. Arthur J. Linn, who will attend the A. B. A convention, will also take part in the National Association of Bank Auditors and Controllers’ Con- vention, being one of the officers. Capital Transit Sells Higher. Capital Transit stock scored a sub- stantial gain on the Washington Stock Exchange today. The market opened with 25 shares selling at 17%, same as yesterday's close. One hundred shares and a 10-share lot then changed hands at 18 and the market closed with 20 shares moving at 18". The final bid was 17! and 18' asked. Riggs Bank common sold at 112, Peoples Drug Stores preferred at 113, Potomac Power 5'; per cent preferred at 1131; and Railway & Electric pre- ferred at 106. Two $1,000 sales in ‘Washington Railway & Electric 4s were recorded at 105Y, and $2,000 Capital Traction 5s at 97. — Central R. R. of New Jersey—Def- icit, seven months ended July 31, was $905,415, vs. deflcit $443,426. Prev. High. 49 5% 9 93 334 14% 141a 83 149% 17 207 '3 125 Allied Chem (6) 127 T4 3% 29% 20% kil 57% 3215 384 12814 146% 25%, 6% 26% 18 23 4915 115 10% 245 5T% 19% 1a FINANCIAL. THE EVENING STAR, WASHINGTON, D. C., TUESDAY, SEPTEMBER 17, 1935, TINDRDBANK [TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE 7 private wirs @irect to The Star. 1938 Stock and Bales— Tow. Dividend Rate. - 446 00. 82 Abr & Strauss 11.20. 10 51 Acme Steel (12 4% Adams Express ___ 84% Adams Exp pf (5).. 28 Adams Millis (2) _. 8 Addressog’h (60c)_ 413 Advance Rumely . 6% Afliated Pro (60c). 04% Air Reduction (13). % Afr-Way Elec Appl. 15'% Alaska Jun (160¢).. %, Alleg Corp (d) . 2% Alleg pf wS30w (d). 21 Allegheny Stl (1)... © DS 3 Gy T O S s 3 N 38 12215 Allied Chem pf (7). 34 Allled Stores 49 Allled Stores pf (5). 12 Allis Chalmers..._. 14 Alpha Port Cmt (1). 214 Amal Leather. ... 48'; Amerada Corp (2) .. 41';3 Am Ag Ch(Del)(3)- 1313 Am Bank Note _ 21 Am Brk Shoe (1) __ 119 Am Brk Shoe pf (7) 110 AmCan (14) 10 Am Car & Foundry 2513 Am Car & Fary pf. 8 Am Chain 38 Am Chain pf($1 X). 66 Am Chicle (13) 22'3 Am Comcl Alcchol 6'2 Am Crystal Sugar .. AmCrysSistpf 6. * Am Encaustic (d) .. 2 Am & Forelgn Pwr. 47% Am & For Pw 2d pf_ 2% Am Hide & Leather. 29's Am Home Pr (2.40). 2% Amlce_.__ - 18 Am Icepf (6). 43 Am International 1% Am La Fran pf (d) . 9 Am Locomotive. _. 32 Am Locomotive pf_. 183 Am Mch & Fy (80¢) « Am Mch & Metals__ 4'; Am Mch & Met vic_. 131; Am Metal = 1'; Am Power & L!ghl 8% Am Pw & Lt $5 pf__ 1014 Am Pw & Lt $6 pf__ 101; Am Radiator - 15% Am Roll Mills a3fc_ 413 Am Seating vic 20 Am Shipbldg (2)._- 31% Am Smelt & Ref . 103 AmS&R 6%t 813% 63 AmSnuff (13) . 12 Am Steel Foundry_ 3'2 Am Stores (12) 51'¢ Am Sugar (2) 126!, Am Sug pf (7) 987 Am Tel & Tel (9) 74% Am Tobacco B (5).. 9 Am Type F pf (d).— T's Am Water Works_ 48 Am Wat W 1st (6). - 72 Am Zinc & Lead pf.. Anaconda Copper. 123 Anchor Cap (60c) 6 Archer Dan M (11 117 Archer Dan pf (1) 3% Armour of Illinois .. 55's Arm’r(111)pr pf (6) 16'; Armstrong Cork 500 4 Arnoid Constable 'l". Artloom Corp. . : Asso Dry Goods Nl s Asso DG 1st 91(19)_ 48 AssoDG2dpf..._. 29, Asso Oil (a80c) 5% Atch To&S Fe (a2)- 66% Atch To&S F pf(5). 191; Atlantic Coast Line. 21% Atlantic Ret (1) . 32% Atlas Powder (2) 4 Atlas Tack. 15 Auburn Auto._... 53 Austin Nichols 2 Austin N pf A (2) Aviation Corp(De! 1'; Baldwin Loco (d)__ 7', Baldwin Loco pf (d) 71, Baltimore & Ohto __. 913 Baltimore & Oh pf_. 361x Bang & Aroos (214) 106% Bang & Aroos pf(7) 574 Barnsdall Corp 37'; Bayuk Cigar (1) .. 141 Beatrice Cre (a50c). 114 Belding-Hem (1) 117 Bendix Aviation 15% Beneficial Lo (13%)- 34 Best&Co (2)-___.. 21% Bethlehem Steel . 55% Beth Steel pf(a1%) 14% Bigelow-San Corp-- 9% Blaw-Knox __ . __ 16% Bloomingdale (40c) 103% Bloomingdale pf(7) 28Y Blumenthal pf_____ 6's Boeing Airplane 39% Bohn Alum &Br (3) 42 Bon Ami (B) (12)_. 21 Borden Co (1.60) 28% Borg-Warner (2) __. 1, Botany Min (d) A__ 8'; Bridgep't Brass 40c 2415 Briggs Mfg (2) . __. 30% Bristol-Myers (12). 3612 Bklyn-Man Tr (3) . 90 Bklyn-Man T pf(6). 43 Bklyn Union Gas(5) 4% Bucyrus Erie_ 81x Bucyrus Erie ev pf_ 3% Budd(E G)MIE - ... 23 Budd(E G)Mfg pf.. 21; Budd Wheel 81 Bullard Co 3% Bulova Watch 3 Burns Bropf (d) . 13% Burr Add Mch(60c) 11 Butte Copper&Zinc. (A M) 301 California Pkg(1%) 1, Callahan Zinc 21; Calumet & Hecla___ 713 Campbell-Wy a40c_. 8% Can Dry G A (40¢)_. 9% Canadian Pacific. 4% Capital Admin (A)_ 321; Cap Adm pf A (3) 45% Case (J 1) Co 36'3 Caterpillar Tr (t1). 194 Celanese Corp. 1% Celotex Co (d) 11% Celotex Co pf ( 221, Cent Aguire (1%2) .. 38% Cerro de Pasco (4)— 3% Certain-teed Prod 3 23 Jertain-teed Prpf_. 130s 37's Ches & Ohlo (2.80) 20 s Chi & East [llpf (d) 1 s Chi & Grt West (d)_ 15% Chi Mail Order (11) % Chi Mil StP&P (d). %, Chi M StP&P pt 1d) Chi & N W (d) 3% Chi & N W pf (d)__. 4% Chi Pneumatic Tool 4 20 Chi Pneu Tool pf___ Chi R I&Pac (d) - 1% Chi K 1&P 6% pf(d) 1% Chi R 1&P 1% pf(d) 252 Chickasha CO (2. 313 Childs Co 9 Chile Copper. 31 Chrysler Corp (11). 14 City lce & Fuel (2)_ 27% Clev Graph Br (11). 20 Cluett Peabody (1) 1617 Coca-Cola (8) - % Coca-Cola A (3)- - 15 Colgate-P-P (50¢) . 101 Colgate-P-P pf (6)- 9 Collins & Alkman . 69% Collins & Alk pf (1) 440s 13 Colo Fuel & Ir «d)_. 2 5 ColoF&I1pt(d)... 30s 10% Colo & South . 408 3% Col Gas & Elec_ 351 Col G & Epf A (6). 31 Col G &E pf (5)- 341 Colum Pic vte (11). x 67 Colum Carbon (4) . 3915 Comel Credit (2%)_ 5614 Comel Inv Tr(12.80) 977 Comel In T pf(4%). 17% Comcl Solv (160c) . % Comw & Southern__ 29% Coniw & Sou pf (3). 27 Congoleum-N(1.60). 23% Conn Ry&Lt (434) 41 Conn R&L pf (4%4). 71 ConC pr pf ww 6% 3% Consol Film 14% Cons Film pf ($1%) 157 Consol Gas N Y (1) 72'% Consol Gas pf (5) 114 Consol Laundri: 613 Consol Ol (a25¢) 21; Consol RR Cuba pf- 15 Consol Textile _ 8% Container Corp (A). 27 Container Corp (B). 415 Contl Baking (A) . 3 Contl Baking (B)... 623 Contl Can (2.40)___ 7 Contl Dia F (a55c).. 287 Contl Insur (11.20). % Contl Motors 15% Contl O Del a62%¢.. 41% Corn Ex BK&TT (3). 62 Corn Prod Ref (3).. 65 [ WS ot D 1108 393 8 13 High. 45 24 697 15% 33% 20% 21 242 242 242 55% 557 18% 104 31% 105 274 14% 20 1215 821 T0% 66% 881 5[’)K 101" 20% 1% 56 33% 55 33% 45 63 8% 931y 31% 134 24% 1% 15% 344 21 101% 101% 203 1% 55% (oo e s o o I B L U S 1 ¥+ Net. Low, Close. Ctge. 45 LI+ 4+++ 1+ 1+ ++4+ R LR S I I S S IR o S I I S O] o4 R P 5 U I T | | Prev. 1935 Stock and ow. Diviachd Rate. 44 00 Hish. 4'4 Coty Inc. 35% Cream of 1213 Crosley Rad (l.llc). 2313 Crown C&S (1).___. 431 Crown C&S pf(2.70) 33 Crown Zelleb'k vte. 14 Crucible Steel .. ... 47% Crucible Steel pf._. 1 CubaCo .. 5 CubaRRpf. 53 Cuban-Am 5i 403 Cul 39% Cudahy Pkg (2%).. 15 Curtis Publishing__ 89 Curtis Pub pf (7). 2 Curtiss Wright__ 6% Curtiss Wright (A) 16 Cutler Hammer. 6% 39% 16% 36% - Py S8 e oe 22% Deere & Co__ 19 Decre&Co pf (375¢). 2315 Delaware & Hudson 11 Del Lack & West._ s 65 Detroit Edison (4) 211415 Devoe & R 1st p£(7) 2613 Dlamond Mtch 11%. 34%, Diam Mat pf (113) 34’3 Dome Mines (12)_.. 6% Dominion Store: 171, Douglas Air (a75c)- 1312 Dresser Mfg A bl 6% Dresser Mg B 2 Dunhil Internatl.. Duplan Silk (1) 113! 103 Duplan SilK pf (8).. 128 % Du Pont (13.60) » Du Pont deb (6) 104 Duquesne Lt 1st( eeErBacrieanl 08ZaenfodnnSarmmons S .0 e [ S : & 115 4 Eastern Roll Mills_. 152": 110!; Eastman Kod (16).. 28% 16% katou Mfg (11) 32% 19% Electric Auto Lite.. 112 107 Elec Auto L pf (7). 94 7 Electric Boat 8 5% Idlec & Mus Ind. l » Elec Pw & Lt 2'3 Elec Pw & Lt §6 pf. Pw & LUST pf. 125% Endicott-Jon ptfl) xluu; 1's Engineers Pub Sve. 14 kng Pub Sve §5 pf_. 14'; Eng PS $5.50 pf ww 4\, Equip Office Bldg s Erfe RR Krie R R 1st pi 10%; Kureka Vac C (80c). 234 15 kvans Products(l). Exchange Buffet_ & Fairbanks Co_ 17 Fairbanks Mor: 5% Fed Lt & Tr. Fed Screw Works__ Fed Water Sve (A)- 28'2 Fid Ph ¥ 1n (71.20) . 1064 Filene's S pf (615).. 131y Firestone (40c)_ ___ 843 Firestone pf A (). 45% First Nau Strs (z43) 2% Kollansbee Brostd). 20 Food Machine (1).. 97y Foster-Wheeier___. 60°5 Foster-Wheeler pf 19% Four Nat Iww al.10. » Gabriel Co (A)_. 7 Gamewell Co. 5'3 Gen Am Investors__ s« Gen Am Trans(1%) « Gen Asphalt T Gen BaKing 5le Gen Bionze. 2 Gen Cable. 4 Gen Cable (A) 19 Gen Cable pt ) GenCigar (1 4 Gen Electric (80¢)_ ‘e Gen Foods (1.80) 's Gen Gas & EL (A) s Gen Milis (3) s Gen Motors (12) 3 Gen Motors pt (60c) .. 10 Gen Outdoors Adv A 17% Gen Print Ink(1.60) x 640s 3 93'3 Gen Print Ink pf(6) x210s 106!5 1's Gen Public Service. 1 15% Gen Ry Signal (1)-. ' Gen Healty & Gul-. 16% Gen Refractories _. 14 Gen St Casung pf.. 12 Giliett Saf kaz (1)~ L1y Gimbel Bros ... 18 Gimbel Bros pf._ 23% Glidden Co (11) llU\A 1047, Glidden Co pr pt (7) 1'x Gobel (Adolf) (d)_ 141 Gold Dust (1.20)_. 11112 Gold Dust pt (6)_. B 40 Goodrich (B F) p 15% Goodyear T&R . 70 Goodyear 37 pf (4)- 2Y3 Gotham Silk Hose__ 20 Gotham Silk H pt. Graham-Paize 5' Granby Consol Grand Union Granite City St (1) Grant (W 1) (11) - 475 Grt Northern pt 9'¢ Grt Nortn Ore (50¢) 26% Grt West Sug (2.40) 20'3 Greyhound Corp. . _—— 4 Hall W F Printing _. 1 613 Hamilton Watch __ 3 11% Hamiiton Watch pf 120s 96 16 Harbison Walk (1). 21 5'2 Hat Corp of Amer__ 2 81 HatCo pfww (6%) 20s 1% Hayes Body. 85 Hazel AtlasGl(5) x 2 11 Hercules Motor (1) 4 71 Hercules Pw (13).. 12 104 Hershey Ch pf (14). 1 s 2 21 25% 11Y 1045 5% Holland Furnace __ 6% Holland & Son (50¢) 307 Houd-Hersh (213) A 613 H'daille-Hers B(1)_ 113 Houston U1l (new)_ 43 Howe Sound (13) __. 2% Hudson & Manhat__ bl Hudson Motor Car_ * Hupp Motors_ 9!z 1llinols Central. - 231, Indus Rayon (1.68). 60’5 Ingersoll-Rand (2). 46% Inland Steel (12)___ 2'3 Inspiration Copper. 8% Interboro R T (d)-— 4% Interlake lron_ 2% Int Agricultural___. 26 1nt Agricul prpf__. 149% Int Bus Mach (16) . 3% Int Car'rs Ltd (20¢) Int Cement (1) 34'x Int Harvester 60e 1% Int Hydro Elec (A). 17 Lnt Merch Marin 22'% Int Nick Can)(30e. . 11y Int Paper & Pw (A). Int Paper & Pw (C). 4'5 Int Paper & Pw pf_. 2113 Int Print Ink (1) __ 98!y Int Print Ink pf (6). 9% Int Ry C A pf. 29 IntSalt (133) 16 Int Silver. 5% Int Tel & Tel. 874 Interstate De 15 28% 107 1215 2913 22 101 13% 20s 10s 3 12% 57 60 T4te 824 6% 67 49 Jewel Tea (3) 2 76 383 Johns-Manv (a50c). 36 84% 50 Jones&Laush7%pf. 180s e —————— 3% Kans City Southn__ 6% Kans City South pf. 713 Kaufmann D S(80c) 15% Kayser(J)&Co a%0c. 6 Keisey-Hayes (A)_. 314 Kelsey-Hayes (B)_. 10% Kelvinator (150¢) - 13% Kennecott C (60c) . 38 23 Kinney (G R) Copf. 27% 19% Kresge (SS) (1 321 22% Kroger G&B ( 28% 22 Lambert Co (2) 127% 8% Lee Rub&Tire 160:) 10% Leh Port Cement__. 3% 11 Lehigh Valley Coal. 11% 5 Lehigh Valley R R 8% 6% Libby McNeill & L. « 21% Lib-O-Ford G1(1.20) 24y 21 Life Saver (1.60)_ 120 94% Ligg & Myers (14)_. 122 93% Ligg & Myers (14)B 19% 24% 8% 13'3 177 21's 24% 22% 18% 26 19 R ) sk o Bale SonanBolenar-SSnmmwa 16 Lily Tulip Cup(1%) 1315 Lima Locomotive... 17% Link Belt (80¢) - 24y Liquid Carb (11)aaa Y 10% Louisv GEEpfA 1%. 34 Louis&Nash(a2%). 12% Ludlum Steel 28 McCall Corp (2) 7% MecCrory Store: (d) - " 9015 McKeesport T P (4) 5% McKesson & Rob___ 82 McKesson & Rob pt. s 39 8 4% 4% 14 27 107 12'% 29% 22 10% 12% 5% 12 21}5 lZB IZEQ ™% 17 Net. Low. Close. Chge. ml-;. 4% + &5 S‘S @ ¥&OSF F IER e 1i+rdl B B1% 2% 1 147% 28% 107 P44+ 0+ -:f..‘ii'a’ 1144+ FEEFES & 254 19% — 15 4+ % 265% + % 31% 108 — % lOli » Prev. lnl Btock and Dividend Rate. Aflfl 00. 8% McLellan Sto 18% Mack Truck (1 30% Macy (R H)& Co(2) 18% Magma Copper (2). 13% Man El md gtd (d)_. 10 Manhat Shirt (60c). 1 Maracaibo Oil Exp.. 5% Marine Midld (40c). 20 Marlin-Rockwell(2) 6% Marshall Field & Co 23% Mathieson Alk(1%) 35% May Dept Str (1.60) 513 Maytag Co 33 Maytag ww ($3%)_. 8413 Maytag 1st pf (6) 3 MengelCo 22 Merch&M Tr (1. Gn) 24% Mesta Machine () 2'5 Miami Copper._.._ 9'3 Mid-Cont Pet(al5c) 8% Midland Steel Prod. 2 60!« Midl'd Stl 1st pf(8) 210s 37% Minn Moline Pw _ 31 Minn Moline Pw pf. 103 Mission Corp 2'; Mo Kans & Texas __. 57 Mo Kans & Tex nf__ 1 Mo Pacific (d) - 1'; Mo Pacific pf (d) - 103 Mohawk C M (a25c) 55 Monsanto Chem(t1) 21% Montgomery Ward. 5275 Morrel & Co (3.60) _ 61! Morris&Essex(37%) % Mother Lode___ 17! Motor Products (2). T'x Motor Wheel (60c) . 9% Mullins Mfg (A).. 913 Mullins Mfg (B) 62 Mullins Mfg (new)._ 13'4 Munsingwear Inc . 4% Murray Corp 40's 30 Myers (FE) & B (2)_ 191y 10% 10% 187 11 Nash Motors (1) 4'3 Nat Acme Co.._. 6% Nat Aviation . - 2214 Nat Biscuit (1.60).. Nat Cash R A(50¢) at Dairy Pr (1.20) Nat Dairy P pfB(7) 4 Nat Dept Stores (d) Nat Dept Strs pf(d) Nat Distiliers (2) Nat Pw & Lt (80¢)_. Nat Ry Mex 24 pf. 203 508 14 s Nat Supply Co__ 1 Nat Supply Co nf_ . 140s 4 Nat Tea (60c) 2 T's Natomas Co (80c) _. Newberry J J(1.60) Newport Industries N Y Central RR NYChi&StLopt Dock pf Investors (d)__ N H & Hartford N H & Hartf pf. NY Rwyspf (d)___ N Y Shipbuilding N Y Shipbldg pf(7 N Y Steam 1st (7) Norfolk & W (18) _ Norf & West pf (4)_ North Am Aviation. 9 North Amer Co (1) 3's Northern Pacific iy N Y N Y & g 60s 9t Ohio Ofl (a15¢) Oliv Farm Bq(new) 313 Omnibus Corp 4%, Oppenheim Collins 11'« Otis Elevator (60c) 17% 4n teel 104 80 111 Glass(4). —_—— 17% 14 Pac-Amer Fisherles 3 8 31, Pacific Coast 1st___. 10s PaciticG& E (133). 20 Pacific Ltg (2.40) 1 Pacific Mills 1 Pac.fic T& T pf (6) 20s Pac Wn Oil (b40c) . 7 Packard Motors 97 Param't Pic (new)_. 196 Param't Pic 1stpf__ 91 Param't Pic 2d pf_.. 174 Park Utah Parmeles Transp't_. Pathe Film Corp_ Patino Mines Penick & Ford (3) .. Penney J C (2) Penn Coal & Coke Penn RR (1) Peoples DS (11)_ Peoples Gas Chi Pere Marquette Pere Marg pr pf Petrol Corp Pfeiffer Brawing Phelps Dodgetazic) « Phila & Read C&1 Philip Morris (1) __. Phillips-Jones C Phillips Petrol ( )_ Phoenix H pf (3 Pillsbury FI (1. sw. Pitts Coal pf : Pitts Screw & Bolt. Pitts Steel pf Pitts United Corp. Pitts United C nr. Plymouth Oil.. Poor & Co (B) ____ Postal Tel&C pf (d) Pressed Stl Car (d)_ Pressed Stl C pf (d) Proc & Gambl (1%) PubSve N J (2.40) .. Pub Sve N J pf (5)_. Pub Sve N J pf (6) Pub Sve E&G pf (5) Pullman Ine (3) 57% Pure Oil _ 34 Pure Oil 6% pt 49% Pure Oil 8% pf. 81, Purity Bakeries (1) —_—— 4 Radlo Corporation . 50 Radio C'ppf A (3%) 35% Radio Corppf B _ 1% Radio-Kelth-Or (d) 1613 Raybestos-Man (1). 36 Reading 1st pf (2)_. 1 Reis (Robert) _ __. Remington-Rand temington-R pr pf. Reo Motor Car.____ 9 Republie Steel 28% Republic Steel pf__. 28 Republic Stl pf cod. 513 Revere Copper - 175 Reynolds Metals (1! 12'i Reyn'lds Spring(1)- 4312 Reynolds Tob B (3) 217 Roan Antelope Ltd_ ': Royal Dal.70 1-10c. 28% 13t 19 12 9 ~ 1008 17 160 s 21 Safeway Stores (2). 4 St Joseph Ld (40¢)- ,.‘ St L-San Fran (d)_. St L-San Fr pt (d)- Savage Arms. Schenley Distillers. Schulte Re Strs pf_ Scott Paper (1.80) Seaboard Alr L (d). Seab'd O Del (160¢c) Sears Roeb’k(a75¢) Second Nat'l Invest. Sea Nat Inv pf 32%. 7% Servel Inc__ 9 Sharon Steel Hoop... 3% Sharp & Dohme____ 1104 Nes. Prev. 1935 Low. Close. Chge. ll'flhi/‘ Low. 11y 9819 19% 16% 18% Divi 63' Shell U 5 Simms 13 Slos: 24 Sloss-S| 15% Snider 20 42 5915 Sparks: Sperry Spicer Stand I Starret 1 6 21, Stewar 2% 115'% Superh Suther, Sweets lennes: Tex Pa ‘Thatch The Fa. Thomp: Thomp: Transa Truax- Truscot Stock and 7% Shattuck(F G) (25¢) 51 Shell Union Ofl_ 8% Silver King C(40¢). 6 Simmons Co. 63 Skelly ON1 Sheffield . %13 Tex Pac Land Trust Thermoid Co Tide W Timken-Detroft __ t» Timken R B (t1) Trans & Westn Afr. Transue&Williams. Tri-Contl Corp 20th Century FINANCIAL. Bales— dend Rate. Add 00, High. 2 8% - 14 1 92% 12% 'nion Oil pf. Pet (a50¢). heMeid pf.. Packing - 10% Socony-Vae (30c) Sou Porto R Sug(2) 10% South Cal Ed (1%)- 12% Southern Pacific 5%2 Southern 7 Southern Rwy pf._ Spalding(AG)1st pt Spang Chalf pf $3% -Withington 4 Spear & Co vic (azbe).- Mfg Spiegel-May-Stern_ Stand Com Tobacco, Stand Gas & Elec- Stand G & E $4 pf. Stand G & E 36 pf. Stand G & E $7 pt nv Corp Stand Oil of Cal (1) Stand Oil Exp pf(5) Stand Oil of Ind (1) Stand Oil of Kan .. tand OII N J (11)_. t(LS) (1) . 58% Sterling Prod (3.60) Sterling 3'a Sterling Secur pf_. cur (A)-. t-Warner___ Stone & Webster___ Studebaker Corp. Sun Oil pf (6) eater (50c) uperior Oil_______ Superior Steel = 1'd Pap 160¢ Coof Am Swift & Co (150e) see Corp - ‘Texas Corp (1) Texas Gulf Sul (2). ¢ Coal & Oil . er (1) e - son Products son Starrett. at Asso Oil.. ara w w=AB8 = aBerans merica(30c). o EXIo ‘Tra Coal.. n Steel ox 20th Century Fox pf Twin City R T pt 29 Uniom Bag&Pap (2) Un Car Un 0il 44 14% STOCKS END DAY ATSTEADY LEVELS Profit Taking Is Absorbed. Market Stages Quiet Late Recovery. STOCK AVERAGES 30 18 15 60 Indus. Rails. Util. Btks Net change. 4 +.1 Unc. +.3 Today, Close 68.3 26.6 3.8 50.3 Prev. 679 265 378 500 Month ago. 642 25.7 380 480 Year ago... 465 23 262 357 1935 687 276 393 509 1935 495 185 21.6 3438 1934 614 430 406 514 1934 453 228 242 349 1932 - 175 8.7 239 169 1929 -146 91539 184.3 157.7 1927 - 516 953 618 613 (Compiled by the Associated Press.) BY VICTOR EUBANK, Associated Press Financial Writer. NEW YORK, September 17—The stock market registered quiet im- | provement in today's late dealings after milling about irregularly most of the session. Specialties gave the best perform- ance, with Du Pont jumpinz to another new year's top. Profit taking was absorbed without much difficulty end the close was steady. Trans- fers approximated 1,300,000 shares. Speculative sentiment apparently was aided somewhat by soaring wheat prices in leading grain centers. The cereal spurted 4 to 5 cents a bushel on war talk and advices to the effect that Argentina was facing a crop disaster, Cotton also developed | strength. While the equities list was far from animated. selective buying was present throughout the day. Sharp declines among various leaders in the first | hour or so were later shaded or trans- formed into gains. Various recoveries were attributed to short covering and reinvestment demand United States Government securitics suffered a relapse and company bonds | were none .too healthy. The guilder moderately and 3 were generall: came back foreign exchanges b & C (1.60) of Cal (1) 823 Un Pacific (6) . Un Pacific pf (4)_ United : United United United : United, United United United United United United United U Afreraft__ Air Line vte Bise (1.60) . Carbon 2.40. Corp Corp pf (3)- Drug - Dyewood Elec Coal Fruit (3) Gas Imp (1) Paperb'd (d) 01. Distributing pf I‘)Li&bornsocur 5 1 l 403 U S Gy 143 USGy 5 US Hol 354 34 e u U u 148 U 3 s s s psum (11) psum pf 17) 5 ffman___. S Ind Alcohol (2) Leather vte ___ Leather A vtc Pipe & F (50¢)_ U S Realty & Imp__ 913 US Rubber __ 24!z U S Rubber 1st pf _ U S Sm '3 U S Ste. 3% U S ste 3'2 United 51 Univ Leaf 1 Univ Pipe & 91; Univ Pjj elt & R (a6) oy el pf (2) Stores (A) . b (12) ad ve & Rad pf 1 UtlPw&Lt(A) 1t 13 Vadsco 11% Vanadt 91 34 2'3 Va-Car Va-Car Sales Corp_. um Corp Van Ral 1st pt (7) Vick Chem (12) . Chemical, Chem 6% p? Va El & Pw pf (6)__ Vulcan Detin (a4) 2614 Walgreen Co (1.40) 281, Ward Baking pf (2) 2's Warner Bros Pic 1415 Warner Bros Pic pf Warner-Quinlan_ Warren Bros Warren Fdy&P (2 Wesson O&S (150¢) West Pa Elec (1)A West Pa Pwr pf (6) West Pa Pwr pf (7) lm\.l >a 112 West'gl 69 Westin 9015 15 Wheelt Wheel Wileox Wilson Wilson Worthi Worth % Wrigle; 17% Yale & 2% Yellow 76 313 Yellow 3813 281 18 1'% Zenith 14 Approximate Sales 11:00 A.M. 100 PR, Dividend raf declarations. s Unit of tradl lus extra | Tast _vear. reorsanized. + & d Comi x Ex West'h" Westvaco Chi White Motor White Rk M S(1.40) White Sewing Mch_ White Sew Mch pf_. Woolworth (2.40) __ Wright Aero 2% Zonite Products Rights Expire. % Budd Mfg. anite CS Sept. 25 Total sales for the day. $ Accumulated dividends Western Maryland Western Pac pf (d) Western Unton h'se A B 50c. ghse El a50c se 1st pf 314 40c) ng Steel __. Stl pe(:13%) + % [ 4 ] ™ & %y Oil & Gas _ & Co (azic) & Co pf (6) . ngton Pump Pump pf A IREEN y W ir (13). Towne (60c) Truck. Truck pf 18 Young Spr& W (2). YoungstownS& T _. ' Youngst'wn S&T pf Radio__ 2+ h Apk. 16 N4 W Exchange. 0,000 . 930,000 1.330,000 a5 glven n the above taple are of Stocks on the N. Y. Stock 310,000 12: - . 740,000 the annual cash payments based on the latest quarterly or half-yearly ng less than 100 shares. t Annuai rate— a Paid this vear. b Paid anies Teceivership or being reporte e Most of European Currencies Score Gains on Dollar| By the Associated Press. | Most European currencies reboundsd moderately in relation to the dollar in world exchange dealings today. The pound sterling advanced 4 of | a cent at $4.94!4 in the American market, reversing the earlier London trend, where the dollar was a little firmer at $4.945/16 to the pound. The guilder continued to improve, rising .06 of a cent in New York at 67.50 cents, but was still under the point at which gold could be profit- ably shipped from Amsterdam. The Netherlands unit had likewise firmed earlier in London to 7.32%; to the Ipound. French francs lifted .00%4 of a cent at 6.59% cents in New York. Earlier in Paris the dollar had shown a little | firmness at the equivalent of 6.591 | cents to the franc. \ Swiss francs still lagged, with a | loss of .02 of a cent in New York at 3248 cents. The lira rose .01 of a cent at 8.15 cents. PARIS, September 17 (#)—Three per cent rentes, 77 francs 70 cen- times; 412 per cent rentes, 87.85. Exchange on London, 74.98, The 38% SBV. % dollar was quoted at 15.17%. CATERPILLAR TRACTOR NETS $2.05 A SHARE | By the Associated Press. NEW YORK, September 17.—Re. port of Caterpillar Tractor Co. for eight months ended August 31 shows net profit of $3.862,039. equal to $2.05 a share of capital stock. In the cor- | responding period of 1934 net profit was $2,669,344, or $1.42 a share. For August the company reported $502,336 | net profit, against $291,964 in August last year. INCOME TAX PAYMENTS SOAR IN CHICAGO AREA By the Associated Press. CHICAGO, September 17.—Carter H. Hayrison, collector of internal revenue for the Chicago district, an- nounced today an increase of 63 per cent in income tax payments for the period of January 1 to September 16, this year, over a similar period a year ago. The total collections so far this year, Harrison said, were $15.556- 997.51, as compared to $9,824,524.47 last year. Chicago & North Western Railway —Deficit, seven months ended July 31, was $8,610,668 vs. deficit $6,351,~ 710. 'HEAVY OFFERINGS FLOOD | TOBACCO WAREHOUSES By the Associated Press. RALEIGH, N. C., September 17— Heavy offerings swamped warehouses today as auction sales began on the middle belt tobacco markets. With the bulk of the receipts inferior grades, prices averaged around 18 cents a pound in the early sales, and while some farmers were dissatisfied, the | majority found them acceptable. Over a million pounds were offered | at Durham and approximately that figure at Henderson, blocking both | markets. Durham warehousemen expected around 600,000 pounds to be sold to- | day. Henderson tobacconists said | two days would be necessary to sell the offerings there. i Prices ranged from 5 to 40 cents a ' pound, but little of types bringing the | latter figure was on the markets. RURAL SALES DECLINE. NEW YORK, September 17 (#).— August daily average sales of general merchandise in small towns and rural areas showed a decline from July, but remained considerably above the sales for August, 1934, according to thel seasonally adjusted index of the De- pertment of Commerce, b featureless. In addition to Du Pont, which got up around 5 points, advances of frac- tions to a point or more were recorded by Case, U. S. Steel, Inland Steel, Chrysler, General Motors Atla Powder, Mathieson Alkali, Monsanto Chemical. Electric Auto-Lite. Ameri- an Weolen preferred. National Dairy, Westinghouse, Deere, Santa Fe. N. Y. Central, Union Pacific and Delaware | & Hudson. An upturn of nearly 4 | points was registered by Paramount [pcmmc first preferred. American | Telephone was he: most of the time and the majority of the utilities did nothing. Standard Brands eased to a new year's low. | The market picture was brightened | in the afternoon by the declaration of a 30-cent dividend on the common shares of Electric Auto-Lite. the first since January 2, 1933. © Associated Press NEW YORK, September 17.—Cot- ton was higher today on trade buying and covering promoted by relauvely steady cables, reports of continued small offerings from the South and the continued strength of the wheat market. December sold up to 10.51, or about $1 a opale above yesterday's closing | quotations, with the market in the late trading showing net advances of 17 to 22 points. Cottonseed Oil. Bleachable cottonseed oil futures closed firm. September. 10.25b: Oc- tober, 10.20b; December. 10.27b: Jan- | uary, 10.22; March, 1032b. Sal 1205 contracts including six switches. b—Bid. Liverpool Quotations. . LIVERPOOL, Septemb 000 oales. inel METAL MARKET. _ NEW YORK. September 17 (P.—Copper NEW YORK. money sleady loans steady months. 's off | per. %, per cent. banke: chaneed: rediscount rate. serve Bank. 1'; per cent it RAILROAD EARNINGS. NEW YORK. September 17 # —Net operating income of railroads reporting today for August included . 1935 | Erie 755.241 $651.928 NEW YORK BAR SILVER. NEW YORK, September 17 (#.— Bar silver steady, unchanged at 63%. First Mortgage Money For CONSTRUCTIO! LOANS AND LOANS ON IM PROVED RESIDEN- TIAL PROPERTY in the District of Columbia and Nearby Maryland. 5%2% Prompt action B. F. SAUL CO. 925 15th St. Natl. 2100