Evening Star Newspaper, October 16, 1935, Page 19

FINANCIAL. REALIZING APPEARS IN CURB TRADING Various Specialties Push Up to New Highs Despite Late Selling. By the Associated Press. NEW YORK, October 16.—Profit- taking dominated the trend in a part of the curb list today, but various specialties pushed on to new high levels. 3 Stocks showing substantial gains in the late trading included General Tire & Rubber, Irving Air Chute, Schiff Co., Distillers Corp.-Seagrams, Hiram Walker and Dow Chemical. Losses ran from fractions tc around & point in Aluminum Co. of America, American Gas & Electric, Montgomery Ward A. Pan American Airways, Ploneer Gold, Sherwin Williams and Technicolor. COMMONWEALTH EDISON NET LOWER IN MONTH By the Associated Press. CHICAGO, October 16.—Common- wealth Edison Co. reported net in- eome for the first nine months of $7.290.851 compared with $7.210,670 the corresponding period last year. Wet for September was $626.996 com- pared with $705,840 in September, DOMESTIC BONDS. High. Low. Noon. Alabam Pw 4'as &: 83" ¥ Alabama Pow 5 2106834 10 a11s 9lts Stock and Dividend Rate. Ainsworth (al) Allied Mills(a26c) Alum’n Co of Am 12008 Alum, Ltdcum pf. 1 Am Beverage 34 Am Capital (B) .. Am Ct P&L A (3) Am Citles P&L B Am Cynam(40c)B 116 Am Equities 1 Am Fork&H: Amé&For Pw w! Am Founders.. ... Am Founders 1stpf D ... Am Gas&E (1.40) Am G&E pf (6) Am Laundry(40¢)300s Am L1&Tr (1.20) 2 Am Mfg Co___... 1258 Am Maracaibo_. 3 Am Meter Co 508 Am Potash & Ch. 100s Am Superpower__ 36 Am Superpwof _. 3 Am Superpower 1stpf (31) ____ Am Tnread pf (25¢) Anchor Post (d) .. Appalachan Eles Pwr pf (7) Arcturus Radio T. Ark NatGas A ___ Ark Nat Gas cu pt Art Met W (40¢)... AssoG&E ____.. ASsOG & E (A)... A3s0 GEE $5 pf Asso Invest (30¢) 3508 Asso Rayon 4 Atl Coast Fisher 3 Atlas Corp (a30c) 44 AtlasCorp war_.. 6 Auto Voting Machine (150¢) 8 Babcock&W (40c) 2258 Bauman (L) 7% 1stpf 110s Bellanca Aircraft. 2 BlissCo (EW)__. 26 Blue Ridge Corp.. Blumenthal 8 Bower Roll B (1). Brazil Tr L&P. Bridgeport Ma Brown Co pf._ Buckeye P L (3 BuREN&EPDS 11.60) - Buffalo Niag & 2 58 20 1 6 1 Sales— Add 00. High 43% 78 3 3% 28% 3 0012268 21% 1 3% 3815 34% 508109 20%; 12% 9% 5 16 30 2 27% 64% 4% % 2 6% % Low. Close. 4 3 16% 34 109 109 20 208105 104% 105 2 64 NEW YORK CURB MARKET By private wire direct to The Star. 3% # 3815 34 208, 12 9 % 16 30 17 25% 64% 4% % 2 (22 8 2 315 | 1% | 4T I 40 | 4% 13 1 Leonard O11 Lockheed Airc'ft Lone Star Gas 30c Loudon Packing Louisiana L&Ex._. Lynch Corp (2)-.. McCord Rad (B) . McWi1ll Dredg(2)350s Mangel Stores Marion Steam Sh_ Mass Util Assoc’'n | Niag Sh Md B _ THE EVENING STAR, WASHINGTON, D. C, WEDNESDAY, OCTOBER 16, 1935. Stock and Bales— Dividend Rate. Add 00[. mn;.. u-icum & 28 Tig v 1 84 8% nd Light “10 4% ' nd Light of B (6) 508 1 20 2 2 6713 67% new (150c) Th T 36 Th Maryl’d Casualty 00 Massey-Harris Mayflower As (2).200. Mead John (t3) _. Merritt Chap & S_ Mesabi Iron Michigan Sugar... Middle States Petrol vtc A __. Middle W Ut (d) .. Mid West Util . conv pf A (d) Midland Stl Prod. Mohawk Hudson 1st pf (4) Mohawk H 2d pf. Molybdenum .. Mount Prod (60¢). Nat Bella H - Nat Fuel Gas (1) Nat Investors ... Nat Invest war.... Nat Leather Nat P&L pf (6. Nat Service Nat Sugar NJ(2) New Brad O (20¢) NJ Zine (2)__ Newm Min (al CIPTS 1 12 12 1 . 1258 6508 14 3 1% 1% & 1 69% 221 2%, 673 59y 008 DU PONT EARNS §1.43 ON GOMMON Third - Quarter Net Com- pares With 89 Cents in Previous Period. By the Associated Press. WILMINGTON, Del, October 16. —Preliminary estimates of E. I. du Pont De Nemours & Co. shows $1.48 earned on its common stock during | the third quarter, it was announced. This figure, which includes divi- dends from General Motors equal to 68 cent a du pont common share, | compares with earnings of 89 cents in the second quarter and $124 a share in the third quarter of 1934. Both periods include dividends from General Motors. For the nine months earnings were placed at $3.22 a share against $3.10 a share in 1934. Utility Net Down. Report of Public Service Corp. of New Jersey and subsidiaries for the 12 months ended September 30, shows net income of $24,330,801. This is equal to $2.63 a share of common stock after allowing for preferred dividend requirements of the parent company and compares with $25,119,- | 888, or $2.77 a common share in the - 8 N Y & Hond (11). 508 N Y P&L pf (6) __. N Y Telof (634) N Y Water Sve pf Niag Hud Pw Niagara Hudson PW (A) war Niagara Hudson Pw (B )war 46 % 11 Noma Elec Corp . Nor Am L&P ot . 100, Northn Cent Tex.. Northern Pipe Line (50c) . Northern States Power (A) Novadel Ag (2) Ohio Brass B (1 24 3 6% 17"y 258 2 year. Eaton Manufacturing Co. Eaton Manufacturing Co. and sub- sidiaries report net profit for the nine months ended September 30 of $1.- 265.877, or $1.82 a share, compered with $866,969, or $1.29 a share in the same period of 1934. 'TERMS OF STEEL MERGER REVEALED - corresponding 12-month period last |4 Syndicate Offers $45,000,000 Issue Of Illinois Special Dispatch to The Star. NEW YORK, October 1 sue of $45,000,000 Illinois Bell Tele- phone Co. first and refunding mort- gage 3'; per cent bonds, series B, is being marketed today by a group of investment banking houses headed by Morgan Stanley & Co., Inc. The bonds are dated October 1, 1935, are due October 1, 1970, and are priced at 10215, The proceeds, estimated at $44,967,- 000, will be applied to the retirement of the company’s series A bonds out- standing. ‘The advertisement offering the bonds to the public is the first to take ad- vantage of the modified advertising regulations recently promulgated by the Securities and Exchange Commis- sion, and includes the information heretofore restricted to the prospectus. Among the details disclosed is that the underwriting group agreed to take $43,700,000 of the bonds at 100%; and that their commission will be 2 per cent or $874,000. —_—— FEDERAL LAND BANKS NEW YORK. October 16 (.—Federal Land Bank bonds (Quotations as of 2 o'clock.) B Aski 4'is Jan. Tz 1013, 4125 May, 4148 Nov., o1 102 105 107 103 1028 1043 108 ed s 1o, 10113 9915 RUBBER FUTURES. NEW YORK. October 18 (#.—Crude rubber futures opened firm. 1% to 15 highy October. 1 Kb, December., 95: March. 13 N, b—Bid 174 2| 10313 POWER INDEX HITS Belll - NEW PEAK LEVEL| Soveent Declares Edison Institute Discloses Upturn of 1.6 Per Cent From Week Ago. By the Associated Press. NEW YORK, October 16.—For the second successive week output of elec- tric power soared to an all time record high. ‘The Associated Press adjusted week- ly index of electric power production remained unchanged at 101.6. ago the index stood at 93.4. The index, based on 1929-1930 as 100, is adjusted for seasonal and long- term trends. The range of recent years follows: 1935. 1934. 1933, High 1023 9974 919 Low .. 94.1 91.9 802 The Edison Electric institute re- ported today that Electricity produc- tion for the week ended October 12 totaled 1,867,127,000 kilowatt hours, an upturn of 1.6 per cent over the pre- ceding week and 12.7 per cent over the corresponding week of 1934. preceding week conincided with the seasonal trend. | United States scored gains over the | like week last year. Percentage gains were: New England 13.9, Middle At- lantic 7.6, Central industrial 18.7, west Central 115, Southern States 58, | Rocky Mountain 296 and Pacific Coast 6.5. A year | The fact that the index did not | change indicated that the rise over the | Power output in all sections of the | FINANCIAL, Freight Reflects Business Revival, By the Associated Press. NEW YORK, October 16.—The in- creased movement of miscellaneous freight on the railroads is an indica- tion that the country is experiencing a “ren] business recovery,” Fred W. Sar- gent, president of the Chicago & North ‘Western Raflway Co., said today. Concerning North Western's pro- posed reorganization, Sargent de- clared that several interests are work- ing on a plan, but said it was his opin- ion that it would be best to await ac- curate estimates of costs in connectici with the rail pension act and the so- cial security act. While North Western's September gross revenues were slightly better than September last year, net operat- ing income was lower, due, he said, to | increased charges for maintenance of way and equipment. | tember quarter last year. FOREIGN MARKETS. By the Associated Press. LONDON.—International affairs and the | forthcoming general _elections restricted business on the Stock Exchange today Investment buying helped to firm the prices | of gilt-edged securities. base metal shares | and some industrials. Wall Street reports | also helped oil stocks. bui other sections | drooped and the market closed irrezular PARIS —Suez Canal and Egyptian shares slumped on the Bourse todav alonz with other international issues. Specula- tors withheld from the market to the tion. d sues moved irregularly. The mark heavy. BERLIN —Prices were weak throngho today's ssion on the Boerse with I Sibporiing orders: | —_— | | PARIS EXCHANGE RATES. | PARIS. October 16 (% T! ntes. 6 centimes cent rentes | “Exdnanee on Lonon 1 was ed at % re per ce 112 per 4.50. *¥» A—19 BIG GAINS SHOWN BY WESTINGHOUSE $2,557,452 Earned in Quar- ter, Against $332,062 Loss Last Year. By the Associated Press. NEW YORK, October 16.—Weste inghouse Electric & Manufacturing Co. reported a net profit of $2.557,453 for the quarter ended September 30, In the same quarter last year the company had a deficit of $332062. Profit per share of common stock | for the quarter was 96 cents after al- lowing for dividends on the preferred stock. Orders received amounted to $30,« 497,620 against $25,213,271 in the Sepe Sales billed, amounting to $29,723,546, were 24 per cent above the 1934 period. For the nine months ended Sep- tember 30 net profit was $8,822640, equal to $3.3¢ a share of common stock, after allowing for dividends on the senior issue, against net loss of $363,787 in the first nine months of last year. Orders received during the nine- month period totaled $95,482,525 against $79,105,881 last year, MASONITE NET CLIMBS. CHICAGO, October 16 (P).—T. Masonite Corp. today reported n earned profit of $1,004271 for tk fiscal year ending August 31, com sared with $379.770 for the previou fiscal year. The corporation make pressed wood products. This is not an Offering Prospectus. The offer of these Bonds is made only by means of the Offering Prospectus. n 1031 1034 1101411015 95% 953, 9 9% Eastp 1st pf(5) 200s100'; 100'; 1004 Bunker Hill&Sul 4508 47' Burco Inc. | Burco Inc Butler Bros Cables&Wire (A). Cables&Wire (B). Cable&Wpf a14.9¢ Can Indus Alco A. | Can Marcon) Carib Syndics Carrier Corp | Catalin Corp | Celanese pr pf(7) Celanese Ist pf 7. 2508 10813 107 Celluloid Corp 3 T T4 Celluloid Corp pf. 50s 27!¢ 27 CentP&L 1% pf (1%) Cent States Elec. Ohito Oil cu pf (6). | Ohto Pwr pt (6) . Ohio PS nf A(7).., Outboard Mot A__ PaciicG& E Pacific Eastern... 1st pf (1%) Pae Light'z pf (6) Pan-Am Air (1) | Pantepec Oil ____ | Parke Davis (+1)- Parker Rust (13)_ Pennroad Corp _ Penn P&L pf (7)_. Penn Salt (13)_ Penn W&P (3)_ Pepperell Mfg (3) Thila Co (80c) Phoenix Secur Phoenix pf (3) Pie Bakeries(60e Ploneer Gold Min Lta (80e) Pitney Bowes P M (120c) Pitts& L B (23%). Pitts Plate G(12). Potrero Sugar | Powdrell & Alex (azsc) Premier Gold t12¢ Prop Re: vic (a Propper McCall'm 11 Prudential Invest 3 Prudent [nv pf(6) 3508 Puget Sound Pw & Lt $5 pt 123s Pyrene Mfg(a20c) 3 | Rwy&Util Inv(A) 2308 Rainbow Lum (A) Raytheon Mfg | Reltable Store: 7y | Reybarn Co Reynolds Inves Richmond Rad Royal Tvpewriter Ruberofd Co (1) _ Saf Car H&L (3)_. St Anthony Gold. 1 St Regis Paper_ 28 St Regis Paper pf 240s Salt Creek P(80c) 3 Schiff TheCo (2). 3 Secur Corp Gen._. Segal Lock & H._. Selected Indus Selec Industri allot ctfs (3%) 2508 Seton Leather | Shattuck Den Min | Sher-Wilms (4) Sher-Wilms pf(6) Singer Mfg (16)_. S| Smith (A0)_____ | Sonotone Corp ___. South Am Gold & Plat (40c» | Sou Penn 0il 1.40 Southn Calif Edis | part pf (13)100s +| Southn Calif Ed 45| DEB(1%) 421, | Southn Calif Edis PIC (1%) Southn ColoPwA 1 Spanish&Gen rcts 8 Square Deal Co LA (2.20)850s Square Deal (B) 3 Stand O!] Ky (1) Stand O1l Ohio. Stand Pw&Lt __, Stand Pw&Lt B__. Stand Silver & L Starrett Corp (d)- Starrett C'p pf(d). Stetson (J B). Strook & Co.. Stutz Motor Sullivan Machine 1 Sunray Ofl 14 Sunshine Min 1.60 1 5 | Swift Intl (2)_ Taggart Corp____ Tasteyeast(Del)A Technicolor Inc 1081101, 408 957 2 9% 1 345 31, 33, 12 29%; 291 291, 25810474 10472 10475 2 40t 40% 107 3% 31 1 44% 44% 6008551 541 57 234 2y 1081053 50810215 I 28 30s 3 This issue, though registered, is not approved by the Securities and Exchange Coramission, which does not pass on the merits of any registered securities. $45,000,000 Illinois Bell Telephone Company First and Refunding Mortgage 3%% Bonds, Series B Dated October 1, 1935 Due October 1, 19:v ' Interest payabdle April 1 and October 1 in Chicago or in New York City Illinois Steel Notifies Stock Ex- change Committee of Prop- erty Changes. By the Associated Press. NEW YORK, October 16—The | Iilinois Steel Co. has notified the | Committee on Stock List of the New | 55% | York Stock Exchange of the terms | 2% of merger of the new Carnegie-Illinois Steel Corp., subsidiary of United States | | Steel Corp., the exchange announced. | It was disclosed by the Committee on Stock List that Illinois Steel on 2% | October 1 sold to Carnegie-Illinos | 39 | Steel Corp. its south works at South 9" Chicago. Ill, its Stockton property in o1, Lake County, Ind, and its electric “"| power transmission line between its 6's south works and Buffington, Gary, Ind. 66 | The sale was made in consideration 88 | of 199.218 shares of the capital stock 2% of Carnegie-Illinois par value, $100. 19 | Illinois Steel Co. also leased its 1n | Joliet works to the Carnegie-Iilinois | for a rental equal to the sum of the depreciation growing out of its use by the lessee, 4 per cent upon the amount of the net book value of the investment of Illinois Steel Co. in the | leased property and all taxes and | assessments on the leased property. i s NEW GAINS EXPECTED | 24| IN DEMAND DEPOSITS 33, | By the Associated Press. | Additional gains in demand de- | posits of member banks of the Fed- cral Reserve System in leading cities are expected by banking authorities as a result of the inflow of gold from Europe, heavy Government spending and repayment of unconverted Lib- erty bonds this month. ! Demand deposits of the member | banks in leading cities have risen to new peaks lately. | Net demand deposits of reporting member banks in 91 cities compared as follows: Week ended October 9 Preceding week _ Same week last year _ DIVIDENDS ANNOUNCED NEW YORK. October 16 declared (prepared by the S | tistics Corp.): Pe- Stk of Pay- riod. record. able. 2 SERwoommn K. n 258109 109 105% 258 37 4 2 28 1% 3 3¢ 1 Electric 7% pf 2008 | Centrif Pipe (40c) 22 Chi RIVEM (13) Chief Consol Childs Co pf _ | Cities Service. Cities Service pf | City Auto St(60c) | Claude Neon Lits_. Clev Elec Iliu (2)_ | Clev Tractor_ | Club Aluminum.. Colon Ol Columbia Gas & Kleccvpt (5) Columb O&G vte.. Com'with Ed (4)... Com'with&S war._ Compo Shoe Mach s.t.c.(50¢) Como Mines 179 6 19 25 THE FIRST NATIONAL BANK OF CHICAGO, Trustee Coupon Bonds in denominations of §1.000 and $500, registerable as to principal. Registered Ponds in denominations of §1,000, §5,000 and $10,000. Coupon Bonds and registered Bonds, and the several denominations, interchangeable. Crane Co st Crucible Bteel 55 '30° Cub Tel %ias ‘A "31 81 817 R Cum C P&L 4zs 10514 10514 105! Dellas PL Gs & ighiaapnia 168 Redeemable, at the option of the Company, i 8 9813 3815 1 ) t in whole or in part, upon 60 days’ notice, on any interest payment date at the following prices with accrued interest: to and including October 1, 1945, at 1071, % ; thereafter to and including October 1, 1950, at 105%; thereafter to and including October 1, 1960, at 10214, %; thereafter to and 4508 including April 1, 1966, at 101%; and thereafter at 100%. 16 2 | Firestone C) Firestone Tire P&L_ Legal investment, in the opinion of counsel for the Underuriters, for Savings Banks in the State of New York. 1 5 l}," The following is merely a brief outline of certain information contained in the Offering Prospectu - andissubject tothe moredetailed statements in the Offering Prospectus and the Registration Statement, which also include important information not outlined or indicated herein. The Offering Prospectus, which must be furnished to each purchaser, should be read prior to any purchase of these Bonds. 16 Cons Copper- ... Consol Gas of Balto (3.60) ... Cons Retail St_ 14 ContG&E pr pf(7) 50s 7 Cooper Bessemer. 2 Cord Corp - 21 Corroon & Reyn__ 2| Crane & Co = Crane Co pf (33)_. | Creole Fetroleum: | Crocker Wheeler. .- 100" | Croft Brewing __ 1% '1:;'4" | Crown Cent Petr._. . | Crown Cork Intl A (350c) - Cueno Press(1.20) | Cusi-Mexicana M | Det Gray fron & Foundry (bluc) Dictograpn Prod Distillers C-Seagr | Distilled Liquors Doehler Die Cast Dow Chemical (2) Driver Har (a5nc) | Duke Power (3) azla .': 12 | Duval Tex Suiph 0334 10434 10434 | Eagle Pitcher La.. 7 6% 84 ' B4 R4 | Easin G&F Asso 2 3 3y Bastn GEFDIA(6) 50s 4213 4215 Eastn G&F orpf (434) Easy Wash Mch B (a373¢). Edison Bros (1).. 3 Eisler Elec Corp.. 3 Klec Bond&Share 140 Elec Bd&Sh pf (6) 5 Elec Ba&Sh ot (6) 17 Elec Pw & Lt opt war ____ Elec Sharehld'g Df ws (2135) 758 Emp G&F 6% pf. 258 Emp G&F 1% pf. 1508 uity Corp Ex-Cell-O A&Tool Fairchild Aviat'n Fajardo Sug (a3) . Fanny F C (60¢c) Fedders Mfg a2ic Ferro Enam(80c) Fisk Rubber - Fisk Rub pf (6) __ Flintkote (1) A Ford MCan A 1% Ford Mot Lta (217.7¢) Froedtert Gr& M conv pf (1.20) Gen Alloys Gen Fireproofing Gen Pub Svc pf 10s Gen Tire & Rub 7758 Georgia Pw pf(6) 50s Glen Alden C (t1) 11 Glohe Under (50c) 1 Gorham (A) . _. Gorham pf ww_. Gorham vtc ext (al) - - 13 Grand R Var (50c) 4 Gray Tel P S (a2) 100s Great Atl & Pac Tea 1st pf (7) _ Guardian Invest_. GuifOflof Pa _ Hall Lamp (a10e) Hazeltine Corp t1. Hoacla Min (al0c) Hollinger G(t65¢c) 9 Holly Sugar 3508 Horn&Hard (1.60) 25g Horn&Hard pf(7) Hudson Bay Min & Sm(a50¢) 2 s 258 ) 10s b THE COMPANY lllinois Bell Telephone Company, over 99% of the stock of which is owned by the American Telephone and Telegraph Company, is one of the associated telephone companies comprising the Bell System. The Company, incorporated in Illinois on January 14, 1881, is engaged in the telepRone business in the State of Illinois (except a portion adjacent to St. Louis) and in two counties in the northiestern part of the State of Indiana. The Company’s properties consist principally of telephone instruments and facili their inter-connection, the latter consisting chiefly of central office switching equipment and connecting es. The business of the Company is subject to regulation, within their respective jurisdictions, by the Federal Communications Commission, the Illinois Commerce Commission, and the Public Sercice Commission of Indiana. 281, 2 [ 2% 731 4 6% 1 3 71203 810815 294 51 % ":S“‘é,‘,’ Outstanding as of June 30, 1935 $48,726,200.00 . cesecane 7,201,145.28 and outstanding) 150,000,000.00 The net proceeds to the Company from the contemplated sale of the $45,000,000 Series B Bonds, after deducting the estimated expenses of the Company in connection with such sale, are expected to approximate $44,967,000, and are to be applied, together with funds to be obtained from the Company’s current cash and temporary cash investments, to the retirement of the Series A Bonds which the Company is calling for redemption on December 1, 1935, at 105% and accrued interest. The Income Statements in the Offering Prospectus (which must be read in conjunction with the notes thereon and appended thereto) show the following as the Company’s Operating Revenues, Total Income (the amount available for Fixed Charges), Fixed Charges (all interest charges and amortization of discount on funded debt), and Net Income, during the three and one-half years ended June 30, 1935: Years Ended Operating Total Fixed Net December 31 Revenues Income Charges Income 1932 $78,851,678.50 $13,318,453.55 $3,193,432.40 $10,125,021.15 1933 72,204,380.58 13,419,083.75 3,011,025.06 10,408,058.69 1934° 58,337,011.38* 14,877,896.59* 7,619,395.32* 7,258,501.27* 1935¢ 37,170,807.34 5,906,587.14 1,572,823.16 4,333,763.98 tSix Months ended June 0. ®The 198§ figures reflect substantial adjustments in the accounts, made after the decision in the Chicago Rate Case, and described in notes appended to the Income Statements appearing in the Offering Prospectus. The 1983} figures must not be used for comparative or other Purpo: without giving consideration to the notes so appended. CAPITALIZATION First and Refunding Mortgage Five Per Cent. Gold Bonds, Series A, due June 1, 1956 (850,000,000 of this series authorized). ......... Cherc s Notes Sold to Trustee of Pension Fund (4% Demand Notes) T Common Stock (1,500,600 shares, par value $100 per share, authorized PURPOSE OF ISSUE 55 X lfli': 294 501 2% | * 11815 118 108 292 501 2% U ng Island Lt P & L 5s cCord Rad fanitcba Pw 6 z 98 1 10 241y 3103y 103 4 32y 32 258 623, 2 9% 2 19 127 4 11 247 1031 | 32 623, 9 107 " 18'% 181 | 10412 10413 10412 an a4y 247y 4% 25 4's 25 35% 28% 35% E EARNINGS Am Fork & Hoe Adams-Millis ___ Adams-Millis 1st pf_$1 Am Fork & Hoe_ Bamberger (L) & 7 2613 758 OR34 TOK34 10K 5 SR UL i5c 3 ———— e 1 Brookmire _Trvestors. Canaaian_Converters. Can Inv Pd Ltd C Sh_: Gan Inv Pd Ltd § Sh 413 Castle (A M) City Baking pi | DOD ©O 105 105 101% 10134 R4l 8415 | 100 " 100 | 9 8 4 2 1 7 Han O Cal_(Del) cI B Highwood-Sar Olls Ltd | Keystone 8 & W pf_s1 | Kiem *(b Emin)’ Co_ " do P $1 | 00PDOOD! 4 50, 1 2 1 s 1 = 2 5 do 7€, p- " e Serv ot Ne ‘6t piiy ik SERIES B BONDS The Series B Bonds, in the apinion of counsel for the Company, will be secured by a lien on substantially all of the physical property owned by the Company in the State of Illinois and appertaining to or useful in the transaction of its business in that State. Upon the redemption of the Series A Bonds, the Series B Bonds will constitute the only then existing indebtedness secured by lien on such property, other than taxes and assessments. Series B Bonds are limited to the amount of $45,000,000 now authorized. The Mortgage, however, the issuance of additional bonds of other series, which would rank pari passu with the Series B Bonds. The Mortgage permits the Company, in certain instances, to dispose of property covered by the Mortgage without a release from or notice to the Trustee, and also provides for releases and substitutions of such Pproperty. No notice is required to be given to bondholders in connection with any such disposal, release or substitution. There is to be paid to a trustee to be used as a sinking fund in purchasing Series B Bonds, but only if obtainable at not exceeding their principal amount and accrued interest, the sum of $250,000, on April 1, 1936, and semi- annually thereafter; provided, however, that any unexpended balance in the fund on any semi-annual payment date is to be credited on account of the payment due on that date. West Virginia [ A e Wilcox-Rich CI B_ Adams_Mills_Corp_ Hale Bros. Stores_ R. H Macy & Co National Biscuit Co__40 'NEW YORK BANK STOCKS NEW YORK. October 16 (P.—Over-the- counter market bank and trust companies: Bid. Asked 4 8 4 1 § 5 100%, 1007 1 263 063g 063 R0z R0 ° ROYg 10512 105! 26 5 1042, 104 4 1083 1083 1083 *78 100 100 " 100 0__ 1005 1001, 10014 1221001 10014 10014 104 137 permits 10 2 57 36 3008 4 2 Tob Prod Ex(10c) Tonopah Belmont Tonopah Mining Trans-Lux Daylite Pic Sp (20c) Tri-Contl C war _ | Tubize Chatiilion Tubize Chatil A__. Tung-Sol Lamp _ Tung-Sol L pf (3) Union Gas (Can) 56+ I 4'25 D 1l 41,5 E 1 41 | Bank of Manhattan Chase UNDERWRITING Subject to certain terms and conditions, certain underwriters named in the Offering Prospectus have severally agreed to purchase an ,aggregate of $43,700,000 of these Bonds from the Company at 100'2%, or a total of $43,918,500, plus accrued interest. Such Bonds are to be offered to the public at 102% %, or a total of $44,792,500, plus accrued interest. The underuwriting discounts are 2% or a total of $874,000. It is expected that delivery of such Bonds to the underwriters, and payment therefor, is to be made on or about October 22, 1935. There is no firm commitment for the remaining $1,300,000 of Bonds, but the Company expects to sell such Bonds on or before December 1, 1935, without underwriting discounts or commissions, to the Trustee of Pension Funds established by the Company and by other companies of the Bell System, at 100'4 %, or a total of $1,306,500, plus accrued interest. Bankers _ Brooklyn Trust _ Central Hanover al Al 508 20% 17% 10% 16 Unit Corp war___. Unit Dry Dock(d) Unit Founders Unit Gas Corp Unit Gas Cor war. Unit Gas Corp pf- Uoit Lt&Pw (A)_ Unit Lt&Pw pf Unit Molasses Ltd (aB%c) E Unit Profit Share 2 Unit Shoe M 12% 1508 Unit Shoe Mach pf (1%) 10s U S Elec Pw ww 5 U S Foil (B) (60e) 47 U S & Intl Secur 5 USPlay C (11)-. 4008 U S Radiator 1 Unit Verde (f20c). 8 United Wall Paper 27 Univ Prod (a80c) . 100s Utah Apex 1 Utah PEL pf $1% 258 Utilities P&L pt_ 200; Utility & Indus Utllity & Indus pt Venezuela Petrol. Waco Afrcraft___. Walker (Hiram).. (H)pf(1). Wayne Pump.__. W Va Coal&Coke. Westn Air Exp(n) Western Auto Supply (3) A Wil-low Cafeteria 2 Woodley Pet (40c) 3 Wright Harg t40e 32 T4 Yukon Gold 5 1% 1% Dividend rates in dollars based on last Quarterly er semi-annual payment. t An- nuai rate—pius extra. tAceum idends. a Paid this year. b Paid last ye d Companies reported in _receiv PP i s DA lon dividends i Lawyers Count | Manufactarers | New York Trust Title Guaranty & S n U. S. TREASURY POSITION. By the Associated Press. The position of the Treasury on tober 14 was: __Receipts. $45.052,15 ditur 7.879.419.66; balance. $1. 7181259 (customs ‘receipts for the mo; .100.93. Receipts for the fiscal year (since July ), S1.116.501.876.. nditures. § $59.033.02 -030.7 5 0f emergency expenditures) of expenditures. $1.007.457.156.51; gross debt $29.480.708.422.44, a decrease of $2.25! the previous day; gold 1976.36. Receipts for October 15. 1934 (com= parable date last_year) ' $19.115.673.34: expenditures. 30.2 net balance, $2.048.6: customs ' receints for the month’ $14 668.385.02. Receipts for the fiscal year, $1,121.363. 496.10; expenditures. 3986, ine cluding = $1.015.443.339.42 of emergency expenditures: _excess of expenditures, $707.033.182.90; gross_ debt, $27,200.« 106.462.83; gold assets, $7.988,724,840.39. NEW YORK PRODUCE. NEW_YORK. 6 (.—Butter. 5,807, stexdy: prices unchaneed oo 531,213: firm and unchanged. : ‘irregul colors: 54 Y *44% 44'2 44Y; 10412 10472 1041 104'% 104% 104%, OR: aRiz "R 2 2 208128% 128 128% 2 % % % 5% 10 815 11% 131 89 29% 29% 105106 106 106 27 18% 17% 18 Humble O11 (1)__. 18 55% 65% HygradeFood ... 2 1% 1% Hygrade 8yl (2)_ 1258 37% 37% 1l Pw&Lt 86 pf__ 200s 31 30% Imp Ol Ltd s ‘coupon (15 - Imp Tob Can % b 3 1214 1214 1 5% 5% (+35¢) 1 2% : Price 102%% and Accrued Interest b $1.- 3 The Underwriters have agreed to purchase $/3,700,000 of these Bonds when, as and if issued, and subject to the approval of Messrs. Davis Polk Wardwell Gardiner & Reed, counsel for the Underwriters, and Messrs. Cutting, Moore & Sidley, counsel for the Company. It is expected that delivery of Bonds in temporary form will be made at the office of J. P. Morgan & Co. on or about October 22, 1985, against payment therefor in NXew York funds. 20 2 20, 1053 105% 105% 5.59. under Ta 1063 106 assets. $0.526.514. Further information, in particular financial statements, is contained in the Registration Statement on fils with the Commission, and in the Offering Prospectus which must be furnished to each purchaser and is obtainable from the undersigned. Indiana P L (30c) Indian Territory Illum Ol (A) ... Indian Territory Illum Oil (B) ... Insurance Co of North Am (2) . 200s Int] Hvdro Eleo 3s F, 58 55 '37. FOREIGN BONDS. Cuban Tel 7 ‘41 81 Ger Con Mun o 27 MORGAN 'STfl.L‘EY & Co. 85 5128 ‘21 mi us 6125 ctf NC '10_°C i 2 33% 33% jaxon P W 65 '37. KIDDER, PEABODY & CO. THE FIRST BOSTON CORPORATION EDWARD B. SMITH & CO. KUHN, LOEB & CO. ‘ LEE HIGGINSON CORPORATION BROWN HARRIMAN & CO. Incorporeted 1o} nt] Mining war int Retrolm(t1%) Intl Util (A) Interstate Hos(2) 1rving Air C(160¢) Jersey Central P&L of (1) Kingsbury Br (d) Kirby Pet (a20e) .. Lake Shore M(v2) Lefcourt Rl pf 33. Lehigh C&N(50¢c) \ ; MONTREAL SILVER. . MONTREAL. October 16 (#.—Silver m‘"" opened steady. December. 65 40b; rch. 66.90b; May, 67.30b. b—Bid. 4508 k. By freight: Fowls, 15a28; other {freight 'PHILADELPHIA PRODUCE. PHILADELPHIA. October 16 (#.—Live peultry—plymoutli Rocks. fancy 'vellow- 2223 12 pounds Or over. isiand Reds Bt SR A 1"”:“4 and dry-packed, 23'2a26'z, DISCOUNT RATE CUT. AMSTERDAM, October 16 (P).— of | The Bank of the Netherlands today k. | reduced its discount rate to 5 per cent from 6 per cent. Dated October 16, 1985, 2 20% 20% 4 6% 6% .