Evening Star Newspaper, September 23, 1935, Page 16

F1l NANC(IAL. -GURB LIST MOVES TOHIGHER LEVELS Gains of 1 to 2 or Mcre Points Are Registered on Broad Front. By the Assoclated Press. NEW YORK, September 23.—Curb market stocks advanced over a fairly brcad front today under leadership of specialties and utilities, most all of which ended in the plus column with gains of 1 to 2 or more points. A slight profit-taking move overtook the market just before the close and final prices were somewhat under the highs of the day. Closing prices of leaders included Aluminum Co., 69%, up 1; American Gas, 327g, up “%; Creole Petroleum, 21';, up 1; Electric Bond & Share, 113, up “; Humble Oil, 54%, up %: Parker Rust Proof, 44, up 1’ Bwift Internacional, 304, up 1 CONFECTIONERY SALES INCREASE IN AUGUST| By the Associatea Press. NEW YORK, September —Do- mestic sa'es of confectionery and com- petitive chocolate precucts during Au- gust by 312 manufacturer: to the Department of Commerce ware valued at $14.516.511, compared with $10,952,821 in July and $14.107,115 in August, 1934. |NSURANCE STOCKS NEW YORK_ September :t ‘York Security Dealers New Associat B ANn.\ Fire (L Life (.60 Aty 3 Am Ins Am Rein: Am S 1y Auromobile ‘Amer it 109000 Hn o0 BAVLTilMORE STOCKS Bpecial Dispatch to The Star. %35 Arundel Corp 310 Black & Decker w. [ BONDS ON THE CURB MARKET. Amer G&E Amer P & L 6 An reporting | By private wire direct to The Star. Stock and Sales— | Dividend Rate. Add 00. High. Low. Close. | Adams Millis 1stpf (1) .. 258110 110 110 Aero Supply (B) 2 2% 2% 2% Ainsworth (a1%) 1 39 39 39 AlaPwrpf (7) _ 308 72 72 712 Alled Mills(a252) 12 173 175 17% Alum’n Coof Ama 175087115 69% 69% Alum'n pf (1%). 750810216 1025 102% Alum'n Ltd 5 34 32 824 Am Beverage 1 2% 2% 2% AmCitiesP&LB 1 4 4 4 Am Cvnam(40c)B 16 23% 23% 234 Am&For Pwwar. 1 31 81 3% am Founders . 1 &% 8 % Am Gas&E (1.40) 5 327 32% 32% Am G&E pf (6) 258106% 1064 106% | Am Laundry (40¢) 15 19% 19% Am Li&Tr (1.20) 5 12% 124 12% Am Maracaibo __ 27 K Am Meter Co 58 153 15% Am Superpower _ 42 g Am Superpw of 1 Angostura (120¢) 2 Appalachan Elec 1 Pwr pf (7) 508 105% 105% 105% Arcturus RadioT 6 %5 % 1 |Ark NatGas __ 1 % 2% Ark NatGasA __ 1% Ark Nat Gas cu pt 5% Art Met W (40c) i | Asso E1 (p213se). |AssOG & E ASs0G & E (A)_- Asso Rayon_ Atlas Corp (a30c) Atlas Corp war | Atias Cor pr A (3) Auto Voting Machine (150¢) | Batcock& W (4ue) 10 Beilanca Aircratt Biiss Co (E W) Blue Ridue Corp Blumenthal S Bower Holl B (1) Brazil Tr L&P Bri port Mach . Brill Corp A Brown Forman __ Buf N& EPpt 1 60) o Buffalo Niag & Eastp 1st pf(5) 50s Bunker Hill&Sul 25s | Butler Bros 5 Cable El Prod vte. Can Marconi __ Carib Syndicate _« Caro L&P pf (6 Carrier Corp. | Catalin Corp Cent States Ele. CentrifugalP(40c) 6 Chi Riv&M (13%)_ 2 Chiids Co pf 30s Citles Service 21 Clev Tractor | Club Aluminum_ THE EVENING STAR, WASHINGTON, NEW YORK CURB MARKET Stock and Sales— Dividend Rate. Add 00. Hllh lmr Gen Invest Corp.. Gen Investpf .. 2 18% " 19% Gen Tire & Rub _. 258 40 40 Georgia Pw pf(6) 258 83 83 Gilbert (A C) ‘ 2% Glen Alden C (t1) 15 21% 21% Globe Under (50¢) 3 11 10% Gold Seal Elec.. 2 k3 . Gorham (A) . 1 24 24 Great Atl & Pac Tea 1st pf (7). 208126 126 126 Great Northern Paper (1) --.1008 20‘6 20% 20% Greenfield T&D... 6% 6% Gulf Ollof Pa_... 60% Hartman Tob 1 Harvard Brew.. 3 2 v 2% Horn&Hard (1. 28% Hudson Bay Min & Sm(a50c) % T 1T% Humble Oil (1) 9 b4™ Hygrade Food 1 13 il Pw&Lt $6 pt. 30 Imp Oil Ltd coupon (150¢)-- 18% Imp Oil Ltd reg (150¢c). ... 1815 Indiana P L (30¢). ¥ 5% Indian Territory Hlum Of1 (A)... 1 Insurance Co of North Am (2)..100s lotl Hydro Elec System cv pf__.100s (ntl Mining war_. 10 int Petrolm(t1%) 17 Intl Products. 1 I Ul (B)——... 8 Interstate Hos(2) 1 Interstate Power (Del) pt 10s lrving Air C(160¢) 2 ital Superpwr(A) 1 Jersey Central P&L pt (6) 30s 32 Kirby Pet (al0e).. 4 2! 21y Klein (DE)«(h).. 1 L Lake Shore M(12) Lakey Fy & Mch . Lehizh C&N (50¢) Lerner Stores (2) Lone Star Gas 30c Long Lsiand Light Long Island Light pIB(6) __ » 684 Louisiana L&Ex._. T Mangel Stores s Marzay O (a25c).. 10 Mead John (13) . Mem Nat G(allc). Mesabl Llron Mich Gas & Oil Michigan Sugar—.. Middle States Petrol vic B.... Mid Royalty cv pf (1) -~ 60s Mock Jud Voe (1). 2 Monawk Hudson 1stpf (4) - 1258 Colon 011 o 99 1% | Molybdenum_ 20 Colts Pat FA 1% Columbia Gas & Elec cv pt (5) _100s Columb O&G vte.. 7 Com'with Ed (4)_. 1 Como Mines _____ Compo Shoe Mach s.tc (50¢) Consol Afreraft__ | Cons Copper | Cons Retail St_ Cord Corp E Corroon & Reyn Cosden Oil Me (d) Creole Petroleum Crocker Wheeler . Croft Brewing - . Crown Cork Intl 200s 4v 3 % 211y - e LN PGPS 9 237 5 Cusi-Mexics e Darby Petr Det Gray {ron & Foundry (bl0c) Distillers C-Seagr Distilled Liquors. | Doehler Die Cast Dow Chemical (2) Draper Cp (12.40) DubelierCondens Duval Tex Sulph Eagle Pitcher Ltd Eastn G&F Asso Basto G&FpfA6) | Eastn States Pw dison Bros (1) ._ | Eisler Elec Corp Elec Bond&Share lec BA&Sh pf (5) Elec BA&Sh pf (6) El Pwr Associates | Elec Sharehid'g DI WS (3133) 1758 R0 82 Emp G&F 7% pf_. 50s 24 23 Lquity Corp 14 E £x-Cell-O A&Tool 6 Fairchud Aviatn | Fajardo Sug (a3) . 50s LFalstaff brewery 1 Ferro Enam(80c)_ 10 2 22 "J' £18k Kubver 3 5 Flintkote (1) A 3 "8‘« Fla P&L ot 508 38% 3 38% | Ford M Can A1y 6 kord Mot (Can) B(ly) -. 25s 81 Ford Mot Lta ral7 7c) 15 8y 8u Froedtert Gr& M convpf (1201 200s 16'; 16% 16% General Electric | Ltdregias7ige) - mamaFicoRNw moH 2412 114 20% 201y 100 100 50s 1 1 87 1 4 1 2% Bl 9»*. 25 4 14% 14y 143 in PS 3 Nor Stat P 4 No Stat P Norw PS Orden G Ohio Edison s | Ohil Conn Riv P 5 Con Gs Ut 6 Consm Fow 4% Consm_Power 55 A Det In Brdz ; Eiec P&L os A Emp Dist i 5 EmpO& RS Erie Light s Firestone Tire Florida P&L Gatineau Pw Gatineau Pw Grand Tronk 6'z.s Guardn 1_5s 48 Gulf Oil Pa_5s 108 100 Guif 8t Ut 5 A ‘56 ; Houst GIf G 6s A Hygrade Fd s A W & L bs A 525 B iR A %nd & \hch E 55 ¢ Liobs” Menat® s, fong Leind Lt PaLs G&E 55, Shartttona Pw M E RIS S, h Cn Scripps A 104 47 Seatife Tt 3 Sh W&P 41 10915 1 12 12 D41y m.s’. 105% 1057 mn 2 mn\. 106 Yadkin R Pw 5 : | York Rwy b5s eb Pow_fis A Relsner Bros s ew Eng G&E bs '47 ew !nl G&E 55 '48_ New Eng G&E 5s /50_. New Ens Pow bs New nl P 51 P &L 4as N \' 8t EG 4'28 NY & W Lt 43 Niag F P 6s '50 | PDREIGH Bog MB 7s '47 Ger Con Mun Hs ks Ger Con Mun 7s '4 | Hanover, City Unit Urit Indus 6125 ww—With warrants. xw—Without warrants. n—New. wi—When lssyed. o evotiabiiey ~lmpaired by maturity, egotiability impair o . receivership, tCompanies reported in A 2| Niles-Bem-Pond % | 9; | Ohio Brass B (1)- 1255 3013 31 541 54 161 | 4 | Sterling B (a7%)_ | Nat Belia H 12 | Nat Fuel Gas (1)~ 1 | Nat P&L ot (65 1008 7 | Nat Rubber Mach 10 Nat-Sugar N J(2) Neisner Br pf(7) New Brad O (20¢) NJ Zinc (2) ____ Newm Min (a1) _ «| N 'Y & Hond (11)_ 100s | N ¥ Steam __ Niag Hud Pw. . | Nlagara Hudson Pw (A) war. i | Niag ShMdB __ 6'a 257 21 | 3 2 Nipissing(alzizc) | Noma Klec Corp._- North Am L&P _ Northn Europ Ofl- I‘ Northwest Eng 114 Novadel Ag (2) 273 BRI TS | Uhto Pwr f (8). | PacificG& B 1stpf (1%)._.. 14 28, 2 283 | Pan-Am Air (1).. 2 3 « Pantepec Oil_____ 125 2 2l Parke Davis (1) 1 444, 441 Parker Rust (3)__650s 4 215 44 Pennrvad Corp _ 11 21 Penn P&L DE (7). 108102 102 ~ 102 Penn Salt (13) 258100 100 100 Pepperell Mfx (3) 7us 61 61 61 Pic Bakeries(60e) 1 10% 103 10% Pleree Governor 2 7 6% 6% Pioneer Gold Mines Ltd (8uc) 2 9% 9% 9y Pits& L E (232)- 708 70 69, 6915 | Pitts Plate G(12). T8N T8% TRY Potrero Sugar 2% e i Properties Realty vic (al.45) 19 19 19 Propper McCall'm 2 Prudential Invest 8\ 8% Puget Sound Pw & Lt $5 pt 758 36's 35'3 351 Puget Sound Pw & Lt $6 pt 75! 16'5 lG 16 | Pyrene Mfg(a20e) 6% 6 Quaker Oats (14). 405 law,xasulaoh Reliable Stores Reybarn Co. . - 5 3' Reynolds Invest__ 3 Richmond Rad_._ p: "- Hoot Petrolmeum. 4 Root Petroleum | evprpta.zo). 10% Ruberoid Co (1) 5 68l St Regis Paper.__ 2 2 21 208108 T3 108 St Regis Paper pf 3 | Salt Ck Cons blie 1 o5 Salt Creek P(80c) % 6% Schiff The Co (2)_ 27 Schulte Real E(d) Selected tndus __ 25 | | Selec Industries allotcifs (3%) 100s 72 71y Tl Selec Ind pr (334) 150s 72 72 72 Sher-Wilms (4) 1107% 10715 1071, Sher-Wilms pf(6) 208109 108 109 Singer Mfg (16)_. 1108285 280 285 South Am Gold & Plat (40c) _. 3 34 | Southn Calif Ed PIB(1%) ___ Southn Calif Edis PIC (1%)_._ | Spanish&Gen rcts Sq Deal pf A 2.20_ Square Deal (B) | Stand C&S (2.40) 100s Stand Dredg cv pf. 5Us | Stand 01 Ky (11) | Stand Oil Nebr _ | Stand Stiver & L_. | Starrett Corp ___. | Starrett Corp of N»—fl: Stutz Motor Sunray O1l Sunshine Min 1.60 Swift inu (2) - Swiss Oil (40c)._. Taggart Corp. Tampa Elec(2.24). | Tasteyeast(Del)A Technicolor Ine Leck Hughes(40c) Texas Gulf Prod._. Texon O&M(Ifle) “Tob Prod Ex(10c) Trans-Lux Daylite Pic Sn (20¢) ... Tri-Contl C war. Tubize Chatillion. Tubize Chatil A. Tung-Sol Lamp__. Union Gas (Can) (alle) ——— Unit Chemical . Unit Corp war. Unit Kounders. Unit Gas Corp | Unit Gas Cor wa Unit Gas Corp pf. | Uait LuePw (A) Unit Li&Pw pt __ Unit Protit Share. Unit Shoe M 1235 150, US Elec Pw ww _ U S roil (B) (§0e) U S & Int’] Secur 1st pf ww (50c) - Unit Stores vic_... Unit Verde E 40c. United Wall Paper Utah Apex Utah P&L pf $1%.1 Utiiues P&l . Utility Eq p£(3%) 50, Utllity & Indus pt Venezuela Petrol. Waco Afrcraft __. Walgreen Co war.. Walker (Hiram).. Walker(H)pt(1)_ Walker Mining. Wayne Pump._. Wenden Copper.... W Va Coal&Coke. West Tab&Sta (1) Wilson Jones 13 _ Woodley Pet (40c) Woolw (F W) 2173 9-10¢) 27 ‘\Wright Harg t40e 18 Yukon Gold 6 1% 1% 1% Dividend raf %‘:“ fytes, o doliars based on toe aPaid MI mr Lll Ship or being reorsasised » - L R s ST TS R~ waoa o-..-o»-—‘ Cuy - oenamaZonamge 15, | these boards the power to set min- |INDUSTRY SCANS COAL SITUATIO Sharp. Rise in Production Laid to Fears of Strike and Guffey Act. Speclal Dispatch to The Star. BY J. G. DONLEY. NEW YORK, September 23.—Coal is bulking large in the news again for two reasons. Labor troubles have come to a head in a walkout which | affects some 400,000 mine workers in the bituminous coal fields. And Presi- dent Roosevelt has appointed the two boards which will administer = the Guffey coal act, which is an attempt to substitute a carefully worked out legal formula for the old N. R. A. coal code. Large consumers of coal, such as the public utilities, railroads and big industrial plants, as well as whole- salers, have been adding heavily to stocks in the iast two or three weeks. There was a further sharp rise in coal production last week, following an increase of more than 1,250,000 tons in the previous week, as com- pared with the like 1934 week. Coal | shipments have taken an abrupt up-‘ | ward turn, as shown by the latest car' | loadings figures. The total for the | week ended September 14 was 138.563 cars, an increase of 27,807 over the like week in 1934 and 20,445 above 1933, Wage Boost Expected. In addition to alarm over the strike, it is feared that prices will rise under ‘ the operations of the Guffey act. In | one way or another, wages seem due | to rise, and wages constitute about 65 per cent of coal mine operating costs. | In setting up the National Bitu- minous Coal Cemmission, President | Roosevelt has taken one of the first steps provided for by the Guffey act, which makes four important pro- visions for control. In addition to the national commission, provision is made for the setting up of 23 district | boards for detailed administration of the act. Sk} The second major provision gives |imum and maximum prices for coal produced in each district. The third provision sets up a penalty to en- force compliance by imposing a 15 per cent tax on all mine shipments, with a drawback of 90 per cent of | : SPONSORS OFFERING & | BY the Associated Press. L | keen interest the announcement of | that tax—which would reduce it to | {a& nominal 1.5 per cent—by all pro- ducers abiding by regulations. The| fourth provision establishes the Bitu- | minous Coal Labor Board—which thz2 | President has also named—which is | | expected to guarantee employes the | right of collective bargaining and act | | as intermediary in disputes belv\een miners and operators. Other Fuels Studied. | Whether or not wages, which are |ctill at the N. R. A. level, are in- lcreascd it is generally believed that | the new control will tend to lift prices, | for it will gradually eliminate mar- | ginal producers, and the general pur- | pose is canceded to be an upward bilization. As one commentator re- cently put it “the new price schedule | will be high in relationship to other \Iuel.s and the danger of longer term losses to competing fuels is one of '-be[ major hazards which the bill imposes | on the industry.” | Aside from considerations of price | or strike fears, however, it must be conceded that a great deal of t'ne‘ recent buying of soft coal has been | | due to an endeavor on the part of | ‘mdusmal plants to restore their coal. ‘pues to going proportions now that \thelr activities are on an increasing ale. (Copyright. 1935) e 'NEW MORGAN FIRM Bonds of Commonwealth & South- ern Subsidiary Placed on Mar- ket by Syndicate. NEW YORK, September 23.—A | name to conjure with in financial capitals made its official reappearance | in the security business in Wall Street today as Morgan Stanley & Co. spon- sored its first bond offering. The firm, infant offspring of J. P. Morgan & Co., headed as joint man- agers with Bonbright & Co. a syndi- cate comprising six other well-known securities firms in offering for sale $19,172,000 of 3!z per cent first lien and unifying mortgage bonds of the Consumers’ Power Co., Michigan oper- ating unit of the Commonwealth & Southern Corp., at a price of 99 per cent of par, plus accrued interest, Wall Street had been waiting with the first business to be done by Morgan | Stanley, recently formed by partners and staff members who resigned for the purpose from J. P. Morgan & Co. and its Philadelphia affiliate, Drexel & Co. The Morgan name, famous for dec- ades in the investment banking busi- ness, disappeared officially from the | field a little more than a year ago | when J. P. Morgan & Co. elected to become a deposit bank and to give up security originating under the terms of the banking act of 1933; FOREIGN EXCHANGES. NEW YORK. September 213 (#.—Foreign exchange irregular; Greaf Britain in dollars, others in_cents: Great Britain, dem-nd 4.91%: cables, 4.911; d fln-dly bill: )34: France, de- 8% clblu‘ .58 + cables. 8.1313. Demands—Belgium, 16.90 free, 40.25: reg 'tio“nsz. Italy, de- Germany, 13,61 i Poland, ‘T8 Yusoslgvia, Austria, ar; umania, 80: Azrnnum. zil, 8.5 Toki 5: 7 0, s Honerone” 5053 15 Mexxco City. 2790 Montreal in New York, 3% New- York I Montresl. 10 36 Ys. O Hominal. FOREIGN MARKETS. By the Associated Press. LONDON.—The Stock Exchange main- Alhur tone today, which de- reloped result of the week end Dolftical happenings. Brofessions] buying and some Paris support advanced Britisn h one and three-quarter ’0 m nd also strengthened other sections. Best prices were not maintained, but the market closed firm. PARIS.—Tbe ltll lan _counter proposal to the League of Nations Committee and also the announcement of th oday. ntes e Tite which Included indusirial and. inter- national shares, The closing was firm. BERLIN.—Traders were hesitant at the openizg on_the Boerse today on the Ttalo- Efi‘llflfltlfl situation. More confidence was nllllo'n gl‘;f ‘.l‘hblo“lrilldfitl' tendency on“bther eontirent Some Tepurcha The closing was gen- erally NEW YORK BAR SILVER. NEW YORK, September 23 (P).— Ba; silver steady and unchanged at 65%. D. C., General Telephone Gains $3,675,000 Cask Under Plan Special Dispatch to The Star. NEW YORK, September 23 —Gen- eral Telephone Corp. has been advised by Bankers' Trust Co., distributing agents for the company, that approxi- mately 73,500, or about 75 per cent, of the 97,371 purchase rigths issued to purchase shares in the reorganized corporation, have been exercised. As u result of the exercise of the purchase rights, there are now out- standing approximately 73,500 shares of $3 convertible preferred stock and 73,500 additional shares of common stock, and the new company has in- creased its cash position by approxi- mately $3,675,000. Under the plan of reorg. -‘zation of Associated Telephone consummated July 17, 1935, the pre- ferred stockholders were given 60- day rights to purchase units consisting of one share of $3 convertible preferred | stock and one share of common stock | of General Telephone Corp. at the price of $50 per unit. pired and became vold at 3 pm, | September 20. MONEY MARKET. NEW YORK. Septemb money steady; loans steady; G0 months. paper, unchanged Jials: 4 months, mol Rediscount rate, New York Reserve Bank, er cent ed. 3, per cent s, 4 per cel 0 day: Bankers MONDAY, SEPTEMBER 23, 1935. UT0 PRODUCTION SLUMPS T0 12600 Sharp Rebound Foreseen When Manufacturing of New Mode! Starts. By the Assoclated Press. Utilities Co. The rights ex- on 1936 models.” 23 (P).—Call acceptances | 6000 _days, nths. sa%. | which about This advertisement appears as a matter of record only and is under no rireumstances to be construed a FINANCIAL., Servel Declares Initial Dividend CHICAGO LIVE STOCK. (SHICAGO. September = o) (United rtment of Agriculture) —Hoy In:lufllnl 5000 Qirect: Tairly aci e 1 to 25 higher thi DETROIT, September 23.—Cram'’s Reports, Inc, in a weekly analysis of the motor car industry, estimates production for the week ended Sep- tember 21 at 12,600 units, compared with 13,470 manufactured during the week ended September 14. ago output for the industry was |18a20; mix: 38,329 cars and trucks. Saymng that production has defi- nitely passed the 3,000,000 unit mark for 1935, the report adds: “Within two or three weeks the dafly output of most plants shouldl' show appreciable increases as assem- bly lines begin extensive operations The closing down of the Ford as- sembly lines last week contributed to the sharp curtailment of output. HIDE PURCHASES HEAVY. NEW YORK, September 23 (#).— Dealers in hides estimate that tan- | 21 ners’ purchases duricg the last two | weeks totaled around 50,000 hides, represents output for the last 10 days 5 Live {ancy, A year | ST coler; horns, large, 18a19; young “toms, Spring. Western, in 7al10; annn: ducks, North scale to $1 Gult Cou! scales o 31 ‘Permia cents Creek. Wyo., Eastern Southwest On Common Stock By the Associated Press. NEW YORK, September 23.—Servel, Inc. today announced an initial divi- dend of 12'%. cents on the common stock, payable December 2 to stock of record November 20. stated it was the intention of the board to consider the question of divi- dends quarterly heieafter. PHILADELPHIA PRODUCE. PHILADELPHIA, poultry—Fowls, mixed colors, “0a: fancy, I'Ifl,. ordinary, i4a chickens, faicy Sellow meated 17a19: fancy Rhode Island Reds and White Rocks. 1 ed ¢olo) broilers, small, ordinary lower: dui 15a16: mixed ' colors, Dressed " poultry—Fowls, tern, dry picked and Ary packed, 2 1s ol sters, dry Spring _turkeys, Lol sl CRUDE OIL PRICES. September 23 ().—Base | the month. crude oil prices: Midcontinent area—Okla. homa-Arkansas. TULSA. Okla.. gravity scale and Navn Central Texas, gravity | ll)ulsllnl Texa(—Gm\n! L SL14: Wi an and Texns Panhanale, lu\xly Scales 10 81 and | e area — Pennsylvani (Bradfors-Allegaay). 8 sam , Pennsylvani orices per producers’ | same grade in Eureka 7 e in Buckeye lines, done on fed steers promising to sel undertone mostly she stock, wi The company more lower: choice eifers. down; 10.50 Sheep, . strong to lambs, choice 15.000: higher: September 23 (). — Plymouth Rocks. Leghorns, . old roosters. outh Rocks. : medium size, cross-bred Rocks. 17819; White Les- stringly and eys, 'young hens. 5. 7. "crooked breasts and | $1.580.501 53K K s, white Ekin fancy | the month, $HA1II 5. fresh " killed, hlckemi tember 20 wa 316,758 99 1380 26 icked. Weuem it estern, 20ag1; e parable da exDz;xdluu 0.0 to $1.0%: ; gros: Goid assets, $7.973.5 nts: - Texas | grade erade lines 7 same Blue anne: SI5 Corning vanized_sheets led teel bars of these securities for sale, or as an offer to buy, or as a solicitation of an offer to buy, any of such securities. The offering is made only by the Prospectus. New Series 319,172,000 Consumers Power Company (The Michigan operating unit of the Commonuwealth & Southern system) First Lien and Unifying Mortgage Bonds 3%% Series of 1935 due 1965 to be designated “First Mortgage Bonds™ on or about January 1, 1936, provision harving been made to make the lien of the Mortgage a first lien upon substantially all of the property of the Company. To be dated October 1, 1935 and to be due May 1, 1965 Price 99% and accrued interest Copies of the Prospectus may be obtained from any of the undersigned: MORGAN STANLEY & CO. Incorporated THE FIRST BOSTON CORPORATION EDWARD B. SMITH & CO. MELLON SECURITIES COMPANY September 23, 1935, (/’ COMMERCIAI. LOANS SOLICITED APPLICATIONS for loans from Wash- ington business men are always welcomed ~— and promptly acted upon — at the American Security. We recognize such loans as among the best assets this Bank can have. By stimu- lating business and commercial activity, Community. BONBRIGHT & COMPANY Incorporated BROWN HARRIMAN & CO. Incorporated E. W. CLARK & CO. COFFIN & BURR Incorporsted we are helpful alike to the Borrower, to the Bank and its Depositors, and to the Bring your financial problems here for a friendly discussion with one of our officers. No account is toe large or too small to merit careful consideration. AMERICAN SECURITY AND TRUST COMPANY Largest Capital and Surplus of any Washington Trust Company Main Office: FIFTEENTH STREET AND PENNSYLVANIA AVENUE CENTRAL BRANCH 7th and Massachusetts Ave., N. W, NORTHEAST BRANCH Eighth and H Streets, N. E. SOUTRWEST BRACH Seventh and E Streets, S. W. NORTHWEST BRANCH 1140 Fifteenth Street, N. W. MEMBER FEDERAL RESERVE SYSTEM pacl ; odd lots mu :000; calves, sales: weak to mostly saagers Receipts. expenditures. $35.854 434.400 )Xlnnv ng Island, 1 $2.036.424 35 under 55€1S. $9.246.444.49 Recelpts for September e, the s an offering sows' mostly "F0.00811.00: : very little ith exception of !HDDI! umuly chclce fed heifers. weak to vealers steady to ¥ uockcr and feeder indicagions mly op steers, 1115: few ‘mos practical top vealers, Balis o fat lambs fairly act rood to chice U. S. TREASURY POSITION. By the Associated Press. The position of the Treasury on_Sep- S230.061.939 Receipts tor_the fiscal year (since July 1 1.5 expenditures. includin s 17493 of emergency cxpenditures 1 a d-crmle nl day. Drevious txvencnures ‘excess of expenditur 285 debt { STEEL QUOTATIONS. NEW YORK. September i 104 pounds T black sheet 10.00, few practicaliy sheep flim: slaughter ewes, 2 as vet no feeding lambs sold; indications around steady. DEROSITS INSURED by Federal Deposit Insurance Corporation, Washington, D. C. $5,000 moxi- mum insurance for each depositer.