Evening Star Newspaper, October 7, 1935, Page 17

FINANCIAL THE EVENING STAR, WASHINGTON, D. C, MANY T0 ATTEND |.B.A. CONVENTION Large Delegation From D. C. Foreseen for Conclave at White Sulphur. BY EDWARD C. STONE. It was stated in the financial dis- trict today that there will be a large delegation of Washington investment bankers at the coming annual con- vention of the Investment Bankers'| Association of America, opening at White Sulphur Springs, W. Va., Oc- tober 26. Members of the association here are now making their reserva- tion and a list of the delegates will soon be available. The present status of business recovery will make the | coming discussions of intense interest | and importance to all dealers in in- vestment securities and their patrons. According to announcement. it is proposed to lay particular stress upon the durable goods industry, both in- | dustrialists and economists to appear | on the program. One of the five open forums will be devoted to this prob- | lem. As to matters more strictly re- | lated to investment banking itself, the | convention will be addressed by John | J. Burns, general counsel of the Se- curities and Exchange Commission, upon problems confronting the com- mission in its appointed task of bring- | ing the securities business under Fed- | eral regulation in accordance with the provisions of the securities act and the securities exchange act. The recent resumption of under- writing activity has raised further problems in the syndication of new issues under the provisions of the se- | curities act and it is planned to devote another forum to the general subject of securities distribution as currently | conducted. Considerable interest has | been manifested among investment bankers as to the methods by wh new security offerings ultimately find | to investors, and sharply | divergent views have been expressed | in various quarters. The extensive interest of the asso- ciation’s membership in municipal bonds has prompted special consider- ation in the program of that field and the schedule includes a two-ses- sion forum on certain phases of mu- nicipal finance. Philip M. Benton, finance director of the Public Works | Administration, will present a paper on the subject, “Public Bodies and the P. W. A."; Lewis P. Mansfield, super- | visor of the bond department of the | Prudential Insurance Co. of America, | will discuss relations between the buyer and seller of municipals. One of the most important forums | will deal with the public utility act of | 1935. The program also includes an address' by B. Howell Griswold, Jr., of Alexander Brown & Sons on the future of the investment bank ness. He will include a discu the code situation in his talk. Presi- | dent Ralph T. Crane will preside. Upturn in School Savings. School saving in the United States celebrates its fiftieth anniversary, 1934-5, with deposits during the year of $11,575,899 and net savings at the | close of $2,337.616, W. Espey Albig, deputy manager, American Bankers' | Association, reports. The participants in this huge sum of children’s savings number 2,826,388, located in 8,937 schools, he says. “This is a gain of 7.9 per cent in deposits over a year ago and an in- crease in net savings—that is, the ex- cess of deposits over withdrawals of $962,308, or 69.9 per cent,” Mr. Albig’s analysis points out. 'The development of 00l savings within the year is remarkable. Four | years ago, 1931-2, the withdrawals | exceeded the deposits by aimoust | $3,000,000; the following year brought | a slight improvement: last vear the improvement was so great that de- | posits topped withdrawals by $1,375,- 307. This year affords proof thai school saving is rapidly overcoming its great depression.” Peoples Drug Sales Mount. Sales of Peoples Drug Stores, Inc., Wwere announced at the head office here today as totaling $1,530,609 in Sep- tember this year, as compared with $1,335,201 in September, 1934, an in- crease of $195,408 or 14.6 per cent. Sales for the first nine months of the present year amounted to $13.- 809,196, the report added, in com- parison with $12,004.829, an increase over last year of $1,804,367 or 15 per cent. The percentage gain in September was not up to the advance in the previous month, August sales being | 236 per cent ahead of business in August, 1934. The September report, | however, is in line with recent reports of gains in department store sales in Washington and other leading cities in the fifth Federal Reserve district. Insurance Up 202 Per Cent. Charles W. O'Donnell, general agent in Washington of the Minnescta | Mutual Life Insurance Co., reported | today that September business for the whole country totaled $4.358,000 | which was a gain of 202 per cent over | the corresponding month last year. A letter from the head office says that prosperity is no longer “just around‘ the corner.” It has arrived. Latest indications on the called | Fourth 4!, per cent Liberty Bonds are for less than 80 per cent conver- sion, which would mean that the | ‘Treasury would have to pay off more | than $250,000,000 of the bonds in | cash on October 15. Acting Secretary of the Treasury Coolidge, commenting on the conver- sion at a recent press conference, said that he expected an increase in the number of cenversions toward the ap- proach of the closing date. It is now regarded as unlikely, however, that this will reach 80 per cent. The sixteenth annual convention of the Morris Plan Bankers Association went into session today at Virginia Beach, with P. H. Whaley of the ‘Whaley-Eaton service, among the speakers. Arthur J. Morris, founder of the Morris Plan 25 years ago, will be another speaker. There are now 98 Morris Plan banks in operation, ircluding one in Washington. Today’s Trading on Exchange. Today's trading on the Washing- ton Stock Exchange vas the lightest since the Italians started the war against Ethiopia althcugh that had nothing to do with it. Two sales in Capital Transit were recorded at 1712, off half a point from last week’s close. Other bid and asked quotations were firm, brokers stating that they still have a good many more orders than they can fill at present prices, hold- ers being unwilling to seli Wide interest in the New York Stock Market was manifested in the local brokerage offices when the week’s business opened today. Fifteenth street brokers look for an uneven market until the atmosphere is clearer than it is right now. In the long run, domestic conditions rather than foreign conditions, are most likely to control the price movements, they assert. / # MONDAY, OCTOBER 7Y, 1935 FINANCIAL. TRANSACTIONS ON.THE NEW YORK STOCK EXCHANGE 108 614 110 35 o 1514 109 6% By private wire direct to The Star. 2:30 pm. Stock and . Dividend Rate. Abr & Strauss pf(7) 4 Adams Express_ Adams Millis 12). Addressog’h (60c) ¢ Advance Rumely & Alaska Jun (160c) Alleg Corp () Allegheny Stl (1) Allfed Chem (6) Allied Chem pf (7). Allfed Stores Allis Chalmers Alpha Port Cmt (1). Amal Leather 2 Amerada Corp (2) .. Am Ag Ch(Del)(3). 2 Am Bank Note Am Brk Shoe pf (7) Am Can (14) Am Chain . Am Colortype Am Comel Alcohal : Am Crystal Sugar__ Am & Foreign Pwr Am & For Pw $6 pf. Am & For Pw §7 pf. Am & For Pw 2d pt Am Hawailan SS(1) Am Hide & Leather. Am Hide & L pt Am Home Pr (2.40). AmlIce . 2 Am International - Am La Fran pf «d) Am Locomotive . 2 Am Locomotive pf 2 Am Mch & Fy (80¢c) Am Mch & Metals . Am Mch & Met vtc. Am Metal Am Power & Light_ Am Pw & Lt 85 pf._ Am Pw & Lt $6 pf __ Am Radiator Am Roll Mills a30¢ Am Seating vic . Am Shipbldg (2) Am Sm&Refining. Am Sm&Ref pf (6)_ Am Sm&Ref pf (7).~ Am Steel Foundry Am Stl Fdry pf (2). Am Stores (12) Am Sugar( 2) Am Sug pf (7) Am Sumat Tob (t1) Am Tel & Tel (9)- Am Tobacco (£) Am Tobacco B (5) Am Tobacco pf (6)- Am Type Fdrs (d). Am Type F pf (d) . Am Water Works Am Woolen - 2 Am Woolen pf Am Writ Pap pf (d) Am Zinc & Lead Anaconda Copper- Anaconda Wire _._. Anchor Cap (60¢)_ Andes Copper Archer Dan M (+1)_ Archer Dan pf (7). Armour Del pf (7). Armour of I1linois_ Arm'r of Il pf(33) _ its Armstrong Cork 600 Arnold Constable. Artloom Corp . Asso Dry Goods Asso DG 18t pf(19) Atch To&S Fe a2). Atch To&S F pf(5). . Atlantic Coast Line Atlantic Ref (1) Auburn Auto Aviation Corp(Del) 1'; Baldwin Loco «a) .. 1, Baltimore & Ohto _ llalfllnnre&l)h (34 & Aroos pfi7) Barnsdall Corp t60¢ Belding-Hem (1) - Eendix Aviation Beneficial Lo (1%). Best & Co (2) Bethlehem Steel Beth Steel pf(al%) Bigelow-San Corp.-. Blaw-Knox Boeing Airplane _ Bohn Alum &Br (3) Botrden Co (1 60). Borg-Warner (2)_ Boston & Maine _ 2 Bridzep't Brass 40¢ Brizgs Mfg ( Briggs Bristol-Myers (12 Bklyn-Man Tr (3) Bklvn & Quecns _ Bklyn & Q pf « Rrown Shoe (3) Bucyrus Eriecv pf_. Budd(E G)MIg Budd(E G)Mfg pf . Budd Wheel Bullard Co Burns Bro pf (d) Burr Add Mch(60c) « Butte Copper&Zine 11% Byers (A M) California Pkg(1i%) 1, Callahan Zinc . 2's Calumet & Hecla phell- Wv at0e_ 8 Can Dry Gin Ale 8% Canadian Pacific 20 Cannon Mills ( 453 Case (J 1) Co = 3615 Caterpillar Tr (t1). 19'; Celanese Corp _ 1% Celotex Co (d) _ 11' Celotex Co pf (d)_. 221 Cent Aguire (1%) 385, Cerro de Pasco (4) . 35, Certain-teed Pred _ 37'x Ches & Ohlo (2.80) - 36 Chesapeake Corp(3) 5 Chi & Grt West (d) L Chi Mall Order (11) ' Chi Mil SIP&P (d). 3, Chi M StP&P of (d) 1% Chi & N W (d) 3% Chi & N W pf (d) 47 Chi Pneumatic Tool 3, Chi R I&Pac (d) 1% Chi R 1&P 6% pf(d) 312 Childs Co 9 Chile Copper _ 31 Chrysler Corp (t1). 134 City lce & Fuel (2)_ 69% City Ice&F pfi63%). City Invest (allz) - 1 Clark Equip «s0c) Clev Graph Br (t1). 20 Cluett Peabody (1) 216174 Coca-Cola (8) 150 53% Coca-Cola A (3). 15's Colzate-P-P (50¢) 9 Collins & Alkman__ 69% Collins & A1k pf (7) 3% Col G & El (a20¢)_.. 31 ColG & E ot (5) 34' Colum Pic vte (f. 67 Colum Carbon (4) 3913 Comel Credit (2%)_ 56% Comel Inv Tr(t2 80) 97% Comel In T pf(4%)- 165 Comel Solv «160¢) _. % Comw & Southern_. 29'x Comw & Sou pf (3)- 27 Congoleum-N(1.60) 23% Conn Ry&Lt (43%) 71 Con C or pf ww 6% 14% Cous Film pf (31%) 157 Conso!l Gas N Y (1). 721 Consol Gas pf (5)__ 612 Consol Oil (a25¢) . 215 Consol RR Cuba pf.. 8% Container Corp (A). 27 Contaliner Corp (B). 413 Contl Baking (A)._. 5, Contl Baking (B)._. 62% Contl Can (2.40) _ 287 Contl Insur «+1 20y, 15% Contl O Del a624c... 41% Corn Ex BK&TT (3). €0 Corn Proa Ref (3) 149 Corn Prod pf (7) 4% Coty Inc . 357 Cream of Wh (t2) _. 11% Crosley Rad ta25c) 2313 Crown C&S (1) 14 Crucible Steel 47'% Crucible St pf $50¢ 1 Cuba Co 5'% Cuban-Am Sugar_ 39% Cudahy Pkg (215) 15 Curtis Publishing 8913 Curtis Pub pf (7)_. 2 Curtiss Wright __ 614 Curtiss Wright (A) 16 Cutler Hammer 22% Deere & Co 19 Deere&Co pf (375¢). 2314 Delaware & Hudson 11 Del Lack & West 26% Diamond Mtch t1%. 3414« Dome Mines (12)__. 6% Dominion Stores 1714 Douglas Afr (a?5¢)_ 1314 Dresser Mfg A b1% % Duluth SS & Atl. .. % Duluth § S&Atl pf_. Sales— Add 00. 20s [ L TR CYSEs PEIES S - S & o1 e 10 F B 19 1 1 € 4 29 23 630 1 0 T Smti3 TR - High. 13 % 32% 13% 1314 15% 1t% 264 167 126 6 28% 15% 63 1033 4 100 102% 1% 60 361 38% 76 155 27% 98% ™ e an £E BE¥ FEEEREE 5 fid+H1 Net. 3 e 1+ +1 = & |4+ L ® FESE Low. Close.Chge. 3 % % % BHEEFESFIEFT FF | 113 2:30 p.m. Bales— Add 00. Prev. 1035 High. Low. Duvidend Rate. 5% 2 Dunhil Internatl. 1854 86% Du Pont (13.60)_ Stock and 8 3% Eastern Roll Mills. 161 110'; Eastman Kod (t6) 164 141 Eastman Kod of (6) 29% 16% Eaton Mfg (1) ___ 7% 3% Eitington-Schild 324 19% Elec Auto L (a30e). 11315 107 Elec Auto L pf (7). 105 3% Electric Boat ___. 8% 5% Elec & Mus Ind ... 1ix Elec Pw & Lt s Elec Pw & Lt $6 Df. Elec Pw & Lt $7 pf. Elec Stor Bat (2%) Endicott-John (3) . Engineers Pub Sve. Eng Pub Sve $5 pf ing P S 85 50 nf ww Eng Pub Sve $6 pf__ Equit Office Bldg Erle R R = 2 Erie R R 1st pf Erie R R 2d pf = Eureka Vac C(80c). Evans Products(1). Exchange Buffet 2% 17 T % Fairbanks Co Fairbanks Morse Fairbanks 54 Fed Min 28'; Fid Phoen F111.20_ 13!x Firestone (40c) 8415 Firestone pf A (6) __ 45 First Nat Strs «215) 19 Florsheim (1) A 24 Follansbee Bros(d) 20'% KFood Machine (1) __ 9% Foster- Wheeler 60% Foster-Wheeler pf 19% Four Nat Iww al.10 17% Freeport-Texas (1) 15 Fuller Co pr pf " Gabriel Co (A)_____ 7 Gamewell Co - 513 Gen Am Investors 84% Gen Am 1 pf ww(6) « Gen Am Trans(1%) 11% Gen Asphalt 4 7% Gen Baking (60c) 146 115 Gen Baking pf (8) 84 b4 Gen Bronze _ 64 2 Gen Cable 49 19 Gen Cable pf 144 127, Gen Clgar pf (1) 85 201y Gen Eleetric (30c) - 30 Gen Foods (180) ' Gen Gas & Bl (A) Gen Ital Ed (a3.85). Gen Milis (3 - 'b“ Gen Motors (12) __ 107's Gen Motors pf «5) 3 Gen Outdoor Adv 175 Gen Print Ink(1.60) 15%« Gen Ry Signal (1)_. % Gen Realty & Util__ 16% Gen Refractories _. 1 Gillett Saf Raz (1)_ 70z Gillett Saf R pf (5). '« Gimbel Bros 23% Glidden Co (11) 1047« Glidden Co pr pf (7) 1'x Gobel (Adolf) (d) 14 Gold Dust (1.20) 7'2 Goodrich (B F) . 40 Goodrich (B F) pf. 15% Goodvear T&R 70 Goodyear $7 pf ( 21, Gotham Silk Hos; 1'« Graham-Pa s Granby Consol and Union _ Grand Un pf (1%) . antte City St 1) 'io - t Norihern pt '+ Grt Nortn Ore (50¢) 267 Grt West Sug (2.40) evhound Corp 3 anamo Sugar 2 o Sug pf 10s Hack W pf A (1%)_ 40s i; Hamilton Watch . 2 Hamilton Watchpf 108 Harbison Walk (1) 1 Hat Co pf ww (6%) 20s Hayes Body Hercules Motor (1) Hercls Pdr pf(7)eld Holland Furnace Holland & Son (50¢c) Houd-Hersh (214) A flle-Hers B(1)_ Houston 01} (new)_ Howe Sound (13) Hudson & Manhat. : Hudson & Man pf. Hudson Motor Car. Hupp Motors 915 Illinots Central 40 (1] Cent Ise lines(4) 2ix Indian Refining tndus Rayon (1.68) 2 Ingersoll Rand (2). inland Steel (12)__. inspiration Copper. interboro R T «(d) .- Interlake fron . Int Bus Mach (6) Int Car'rs Ltd (20¢) Int Cement (11 int Harvester 60e) - Int Hydro Elec (A) Int Merch Marine . Int Nick Can) (8ve - int Paper & Pw (A) Iut Paper & Pw (C) = Int Paper & Pw pf _ Int Print Ink(1.40)_ Int Ry Cent Am. int Ry C A pt. Int Shoe (2) . Int Tel & Tel Interstate Dept St Intertype (alic) Island Creek C (2) .. 181y 48'% 12% 163 1313 36 25 67 T 84% 24 49 Jewel Tea (3) 3812 Johns-Manv (a50c) 50 Jones&Lauxh?%pf 15% Kayser(J)&Co a%0¢ 22% 34 Kelsey-Hayes (B).. 18% 10% Kelvinator (150¢)_.. 26% 13% Kennecott C (60c) 5 2 Kresge Dent Strs. 27% 19% Kresge (SS) (1) 103 Kresge (S S)pf(7)_. 321 224 Kroger G&B (1.60) P R Zfl' 21% Lambert Co (2)--.. 10% Leb Port Cement 1% Lehigh Valley Coal. 5 Lehigh Valley R R. 67'4 Lehman C (12.40) . 10'5 Lehn & Fink (1%) 6 Libby McNeill & L._ 21% Lib-O-Ford G1(1.20) 21 Life Saver (1.60) 93% Ligg & Myers (t4)B 16 Lily Tulip Cup(1%) 17% Link Belt (80c) - 2412 Liquid Carb (t1) 4 31% Loew's Inc (2) 102 Loew's Inc pf (6%) 1 Loft Inc = 33 Loose-Wiles (2)_ 1845 Lorfllard P (11.20)- 124 Lorillard P pf (7) . La Ol Ref «d) 44 La Oil Ref pf (d)_ 10% Louisv G&EpfA 134 34 Louis&Nanh(a2i). 12% Ludium Steel 90% Ludium Stl of (6%) 14 - 1O 1t 00 RSO N = 1 0O O 28 (o) S Ses oo 135 7% McCrory Stores (d). 7% McGraw Hill Pub__. 347 Mclintyre Porcu (2) 901 McKeesport T P (4) % McKesson & Rob 32 McKesson & Rob pf 815 McLellan Stores 8513 McLellan Stores pf. 18% Mack Truck (1) . 3015 Macy (R H)& Co(2) 18% Magma Copper (2). 4 Manati Sug pf (d) . 13% Man El md gtd «d)_ 5% Marine Midld (40c) 6% Marshall Field & Co 23% Mathieson Alk(1%) 35% May Dept Str (1.60) 41 Melville Shoe 12%). 3 MengelCo 20% Mengel Co pf - 120 241x Mesta Machine (2)_ 2'3 Miami Copper 62 9% Mid-Cont Pet(alse) 11 8% Midland Steel Prod 12 601x Midl'd Stl 1st pf(8) 190s 3% Minn Moline Pw 2 31 Minn Moline Pw pf. 10% Missfon Corp 215 Mo Kans & Texas._. 5% Mo Kans & Tex of .. 115 Mo Pacific pf (d) . 55 Monsanto Chem(11) 21% Montgomery Ward. 50 Morrel & Co (3.60). % Mother Lode 17% Motor Products (2). 7' Motor Wheel (60c| 9% Mullins Mfg (A) 9% Mullins Mfg (B) 4 Sa - ) B R 000 E AN NI A O OV 14% 14% 14 110'% High. Low. Close.Chge. 4t 129% 129'% 4% 1297 6 1531 15681y 27% 5% 31, 15214 1524 158 Net. 4% 6 'I.’iE I+i+i 114l + 14+ e & & - ++ 4+++| +10++ 14+ + 41+ +1 +1+ 4ttt 1 i F *ied] - FEEF R FF 4 % 115% +11 4% + 53% + % 11 3 T + % 2% + W 843, +1% 30% — '3 50 -% (SMALL GAIN REVEALED 13% + % 1215 + 2:30 p.m. Sales— Add 00. Hi 46 Prev. 1935 Stock and High. Low Dividend Rate. 18% 4% Murray Corp 40% 30 Myers (FE) & B (2) 11 Nash Motors (1) 4’4 Nat Acme Co 22% Nat Biscuit (1.60). . 1312 Nat Cash Reg(50c). 12% Nat Dairy P (1.20)_ 14 Nat Dept Stores (d) % 23'% Nat Distillers (2) .. 121% Nat Lead pf (6) B 4% Nat Pwr & Lt (80c) 40% Nat Steel (11) 9 Nat Supply Co_ 36 Nat Supply Co p! 814 Nat Tea (60c) T7'3 Natomas Co (80c) 109 Newberry J J pf(7) 4% Newport Industries 12% N Y Central RR___ 6 NYChicago& St L. 9 NYChi&StLpf.. 4 NYDockpf. ... ¥ Investors (d) Y N H & Hartford Y N H & Hartf pt Y Rwyspf (d)... Y Shipbuilding Y Shipbuild'g pf_ 69 N Y Steam pf (6) 99 Norf & West pf (4). 2 North Am Aviation 9 North Amer Co (1)_ 35'; North Am Co pf (3) % Northern Pacific . Northwest Tel (3) _— 9% Ohio Ofl ta18¢) .. 33 Omnibus Corp vte.. 4% Oppenheim Collins. 11'« Otis Elevator (60c) 4% Otis Steel 224 Otis Steel pr pf 80 Owens-1ll Glass(4) 191 10% 33 1 N N N %N N 14 Pac-Amer Fisher! 1 Pacific Coast i 13% Pacific G & E (1% 19 Pacific Ltg (2.40) _ 1111 Pac.fic T & T pf (6) Packard Motors ___ Pan American Pet__ Param’t Pic (new) .. Param’t Pic 1st pf. Param’t Pic 2d pf_. Park Utah Pathe Film Corp Patino Mines - Penick & Ford (3) Penney J C (2) Penn Coal & Coke _. Penn Dixie Cement. Penn R R (a50¢) __ Peoples D S pf(63) Peoples Gas Chi Pet Milk (1) = Pet C'p of Amasic. Preiffer Brew (11)_ Phelps Dodge(a25¢) Phila & Read C&1. Philip Morris (1) Phillips Petrol (1) Plerce Petroleum - Pitts United C pf.. Plymouth Ol __.___ Poor & Co (B) Porto R Am Tob(B) Postal Tel&C pf (d) Pressed Stl Car «d) Gamble 113 © Sro AR NNE S b o l"Vllwan Ine (1%). Pure Ot 9% Pure Oil 8% pf 8% Purity Bakeries (1) 4 Radio Corporation 50 RadioC'ppfA (i) 35's Radio Corp pf B 1'¢ Radio-Keith-Or «d) 4' R R Sec 111 Cent 16's Raybestos-Man (1) 33 Reading pf(2)_. 7 Remlacton-Rand_ 69 Rem-Rand 6% pf 2% Reo Motor Car. _ 9 Republic Steel ... %« Republic Steel pf _. 1: Republic Steel (A)_ 5'3 Revere Copper Revere C & B pf 13 Revere Copper (A)_ 175 Reynolds Metals (1 1214 Reyn'lds Spring(1). 43'x Revnolds Tob B (3) 217 Roan Antelope Ltd_ 2913 Royal Dal.70 1-10c. 324 Safeway Stores (3). 10'4 St Joseph Ld (40c). St L-San Fran «d)_. St L-San Fr pf (d). Savage Arms Schenley Distillers. Schulte Re Strs pf + Seab’d O Del (1) Sears Roeb'k«a7sc) Second Nat'l Invest Servel Ine (50¢) Sharon Steel Hoop Shattuck(F G)25¢) Shell Trad (a1.23.7) Shell Union 011~ 31« Shell Union Oil pf__ W Silver King C(40¢)_ Simmons Co Simms Pet (as0c) Skelly Oil Sloss-Sheffleld Snider Packing. Socony-Vac (30¢) _ Sou Porto R Sug(2) South Cal Ed (1%). - S o = P T = Y e oS oo - P AT T TR Sl oo 1 o 2: Southern Pacific . 9 171 5'2 Southern Raflway.. 7 Southern Rwy pf _ 3 1 68's 42 Spalding(AG)1st pf 6. 17% 39% 8% 69% 15% 67T% 10% 8 104 113% 23% Net. | Prev.1935 h. Low. Cluse.Chge. | High. Low. 17% 1T% + % 5% 39% 39% + % 7 364 131 14% 9% 19% 5% 9% 11% 25% 27% 38% 28 50% 25 67% 15% 10% 64 75! 121 15% 7% Sperry 1% Stand G 113% 7 21% 8 16 1614 3% Tex Pay 813 Tex Pa. 13 24%% 29 44 14% Un ONI Union United : United United United 4 United United United United United Uuited Stock and Dividend Rate. 34 Sparks-Withington 3% Spear & Co 32 Spencer Kell (1.60) 814 Spicer Mfg e 437% Splegel-May-| -Stern. 12% Stand Brands (30c). 214 Stand Com Tobacco 1% Stand Gas&El (d) 4% Stand G&E$6pf(d). 6 Stand G&E$7pf(d). 27% Stand Oil of Cal (1) 23 Stand Ofl of Ind (1) 35% Stand Ofl N J (t1)._. 12 Starrett (L 8) (1)... 58% Sterling Prod (3.80) 6% Stewart-Warner___ 2% Stone & Webster._. 2% Studebaker Corp.... 60 Sun Ofl (11) 115% Sun Oil pf (6) . 3 1% Superior Ofl 20% 18 Sutherl'd Pap t60e_ 19% 14% Swift & Co (150e) _ 6% Telautograph (60¢) 4 Tennessee Corp. ‘Texas Corp (1) 28% Texas Gulf Sul (3). United Gas Imp (1) 2:30 p.m. ‘Bales— Add 00. High. u:w cxnuchu 20 5% 5 -% 8608 64 Sv. +1% 1 321 + % 12% 10% 69 12% 4% 3 S&ES$4pfd) 4 10 6 32% 12% 10% — % 0% +2% 13 vte (a26e)-- 10 3214 241 43% 23% 64 14% 6% 5% 1 68 68 20s 119% — 4 2 118 14 16% 6% 515 2015 313 c Coal & Ofl. ¢ Land Trust 13% Thatcher (1) 61'% The Fair pf (312”‘) 2'5 Thermold Co 13% Thompson Products 1% Thompson Starrett 7% Tide Wat Asso Ofl 84 Tide Wat A O pf(6) 4% Timken-Detroft ___ 28% Timken R B (11) _ 7% Trans & Westn Afr_ ‘Transamerica(30c). Transue&Williams. Tri-Contl Corp D L L2 A—IL STOCKS ARE DULL INNARROW RANG Few Specialties Move High- er, but Most Changes Remain Small. STOCK AVERAGES 15 15 60 Rails. Util St'ks 3 +.3 Unc. +.2 23.6 36.2 486 233 362 484 269 385 50.0 25.7 217 389 276 393 509 185 216 348 430 406 514 453 228 242 349 low... 17.5 87 239 169 1929 high..146.9 153.9 1843 157.7 1927 low... 516 953 618 613 (Compiled by the Assoclated Press.) I Net change_ Today, 1 p.m. 67.3 Prev. day._- 67.0 Month ago- 67.4 Year ago... 49.3 1935 1935 1934 1934 1932 614 BY VICTOR EUBANK, Associated Press Fi 1al W NEW YORK, October 7.—T. worl] | market moved at a slow gait today. 4 few specialties exhibited strength, bu the list, as a whole, held to an ex tremely narrow range. 313 Truscon Stee! 20th Century Fox. . 20th Century Fox pf 2 TwinCity RT-. Bag&Pap (2) Un Carb & C (1.60) of Cal (1) ?Z‘: Un Pacific (6) Un Pacific of (4) Atrcraft Alr Line vto Bise (160) . Carbon 2.40 Corp Corppf (3) 14 Drug .. 3 Dyewood . _.. 1 Fruit (3) 14 39 Gas 1 pf (5) 2 U S Distributing pf 260« U S & For'n Secur __ U S Frelzght (1) _ U S Gy 4+ psum (11) _. U S Ind Alcohol (2) ‘m U S Leather vic 3 US Leather A vte__ US Pipe & F (5Ue) - u 5 Red Ru R S So ‘nited % U U L U [§ ( i L Ly P Univ P T deb e 26' Walgy 114 1 2% 141, iy "0: Warre; Warre: S Steel - S Steel pf (2) .. Univ b I Pwe Lt Walgre Walworth Co Warner Bros Pie Warner Bros Pie pf alty & lmp bber bler 1st pf _ 1 & Ref (a8)_ P40 4+ 1+ Stores (A) v Leaf Tob (12) v Leaf i pf (8) ic Ist pfd 1we & kad ive & Rad pf A een Co(1.60) P 63y n Bros n Fdry&P1__ 3 Wesson U&S (15Uc) West Pa Elec pf (6) West Pa Elec pf (7) West Pa Pwr pf (6) Weste Weste 10s 208 a0s rn Maryland rn Pac pf «d) Western Union West'gh se A B 50c Westinghse El a50¢ Westiise 1st pf 313 \veston Elec ins We. Whneel Wuite White n Elec (2) A Stl pfadidg) Alotor RK M Sc140) Wiison & Co (50¢). Wooiw Worth Worth Worth 21y 46ty 36 6'. 38's 13 15 Young Young 1y Zenith 2% Zonite 0% 11:00 A.M 2t % 8% 1% g declarations lus extra last year I +4+441 0+ + s Unit of trading less tban (U0 shares t Accumuinwd divid d Companies’ oiiD Az a0 mgon Fuinp Pumy ot A Pump of B 2 Yellow Truck Spr& W (2) stown S & T Radlo ____ Prosuets Rights Expire. % 1 Budd Mf:o Approximate Sales of Stocks o the N. ¥. Stock Apr 16 12 % + % Exchange. 500,000 . 700,000 le are the annuss 280.000 610,000 siver 12.00 Noon. .. cash payments based on the latest nulmru or haif-yearly 1 Annual rate— a Paid this vear b Pata reporied D receivershio or being |G. C. MURPHY CO. SALES | MOUNT 11.6 PER CENT By the Associated Press. NEW YORK, October 7.—Sales of G. C. Murphy Co. for September were | reported at $2,350,545. compared with | | $2.105,135 in September, 1934, an in- | crease of 11.6 per cent. For the first | nine months of the year sales aggre- i gated $20,757,813, a gain of 11.7 per cent over the $18,577,794 for the like | period last year. —_— 'DIVIDENDS RESUMED BY SPIEGEL-MAY-STERN By the Associated Press. NEW YORK, October 7.—Spiegel, May, Stern & Co. has resumed divi- dends on the common stock with the declaration of a quarterly payment of | 75 cents, payable November 1 to stock of record October 15. The last dis- tribution was 75 cents on May 1, 1930. ‘The company also declared two regular quarterly dividends of $1.62'2 on the preferred stock, payable November 1 and February 1 to stock of record Oc- tober 15 and January 15, respectively. IN NEWBERRY VOLUME By the Assoclated Press. NEW YORK, October 7.—Sales of J. J. Newberry Co. in September amounted to $3,322,838 compared with $3,270,977 in the same month last year, an increase of 1.5 per cent. This brought the total for the first 9 months to $28,633,762 against $27,512,~ 504, an increase of 4 per cent. U. S. TREASURY POSITION. By the Associated Press. The position of the Treasury on October was® 30.353. ‘,'m 71 exnendnu s, 15toms xtcemls “tor “tha ‘month, * Receipts for the fiscal year (since July 048,982, 684.40: exnendhures $L- . including $957.605,847 84 of emergency expenditures exceu of ‘ex- di 0 ross debt. a S1.2 uer the previous day: goid assets. $9. 74. Retetis Tor October’ 5r 1034 (compars- ble date last 'year) = $41.760.008.45: expenditures. S60.806.454.84; net balance. $2.165.758, 6! ; customs receipts for the month. $6.669.064.13. FREIGHT LOADINGS. NEW YORK. October 7 (#.—Revenue 1rlelhl car In-dlnn on nllroldl xeporllnl ey Sober 5 tncluded ee for week en Baltimore & Ohlo_— £0.866 !anv.u :fn'.'a-s Montgomey Ward Sales Reach Best Levels Since 1929 By the Associated Press. CHICAGO, October 7.—Montgomery | view of weather Ward & Co. today reported the largest lowed by rallies gross sales in September since 1929. The total reached $25,172,907. over September last year. year. September sales alsc showed an in- crease over August, 1935, when the to- tal was $22,848,599, representing an increase of 20.80 per cent for August, 1935, over August, 1934. For the eight months’ period ending September 30, gross sales totaled $181,- 310,545, an increase of $28,604,213, or } 18.73 per cent over the corresponding period last year. $4,321,967 NET EARNED BY AMERICAN SMELTING & By the Associated Press. NEW YORK, October 7.—Net in- come of the American Smelting & Re- fining Co. in the first half of 1935 | amounted to $4,321,967, before profit | on inventories, compared with $3,988,- 801 in the same period a year ago, ac- cording to a report to stockholders made by Simon Guggenheim, presi- dent. These earnings were equal, after preferred dividends, to $3.02 a share annually on the common, against $2.14 last year. Total current assets were listed at $99,057,373 as of June 30, nearly six times total current liabili- ties of $16,959,433. e MIAMI STORE REPORTS HIGHER NET AND SALES Special Dispatch to The Star. NEW YORK, October 7.—The an- | nual report of Burdine's, Inc. (Mi- ami), for the fiscal year ended July 31 shows sales of $4,764,928 and net | profit of $290,566, after taxes. ‘This compared with sales of 33,940.- 506 and net profit of $180,528 in the precedinig fiscal year. The consolidated balance sheet of Burdine's, Inc, and the Burdine Properties as of July 31, 1935, shows total current assets of $1,139,822, as compared wjth current liabilities of $304,180. Total assets are shown at $2,985,171. ’ New York Cotton By the Associated Press. NEW YORK, October 7.—Slight | opening declincs in response to easy Liverpool cables and the favorable conditions were fol- in cotton today on | & renewal of trade demand from do- an | mestic apd foreign sources. increase of $2,079,442, or 9 per cent December sold up from 1092 to There was | 1116, with the midafternoon market one more Saturday in September this firm at net advances of 20 to 25 points. | | According to canvass of New York Cotton Exchange members made to- day, a crop of 11,370,000 bales is the average expectations. | Putures closed steady. October December anuary March May Julg 5 to 14 higher Lo Liverpool Qnotlllc 8. LIVERPOOL. October 7 (#) receipts. Spot in fair demand; prices ; points lower. Quotations in pence: Ameri- c?n smcv, :o?u‘ middling. 7.1 6.10; March, DROP SLIGHTLY IN WEEK By the Associated Press. The Federal Reserve Board reports member bank reserve balances for the week ended October 2 dropped slightly | under the previous week. | In the table which follows, com- parative ngures are given, as reported | | 895,000.000 DIVIDENDS ANNOUNCED NEW YORK, October 7.—Dividends de- | | elared: Pe- Stk.of Pay- Rate. riod. record. able. Same week last year. - 3 Spiegel, May. | Stewari-Warner Cor_25c 8 11-1 1 Ext | Stewart-Warner cc 22 Q@ 10-15 11-1 Q1-16-'36 2-1-'36 Crown Cork & Seal Co.—Special o | ransfers Cotton. no |MEMBER BANK BALANCES' meeting of stockholders of company is scheduled to be held October 14 to vote on execution of a first mortgage on real property and fixed assets and issuance of $5500,000 15-year 4 per | cent bonds to secure such mortgage. 4 Spiegel-May-Stern got up 4 points Greyhound Corp. gained 2 and ler and Monsanto Chemical adv about a point each. Fract | provement was shown by Gener: tors, Stewart-Warner, United Steel, Bethlehem, Western U: | American Telephone, Santa Fe | New York Central. The metals an( %! most of the utilities did nothing. Th late tone was steady. ap] ed 1.000,00 | shares. Spiegel-May-Stern Up. hares of Spiegel-Ma n got vy vances included Chrysler, Gene tors, ng \\1h a numo others, were zbout unchanged. epparently was genera At the confict would be 8 short, 1 FJ.WIC‘\' IIZCH ANGES. MEN'S CLOTHING IN DEMANI] NEW YOFK. October —With current sales of men's Fall clothing reported to be running about 20 per cent ahead of a year agd, m-nuface | turers believe this will be their most | active season since 1930. e | First | Mortgage Money For CONSTRUCTION LOANS AND LOANS ON IM PP.OVED RESIDEN- TIAL PROPERTY in the District of and Nearby 5Y29, Prompt action B. F. SAUL CO. 925 15th St. Natl. 2100 T (@ olumbia aryland. For Purchasing a Home or RE-FINANCING EXPIRING TRUSTS NO COMMISSION CHARGE NO RENEWALS REQUIRED Terms Arranged on Easy Monthly Payments AIMBER BUILOING SO Suacne 949 NIN'I'H S‘I'IIIT N