Evening Star Newspaper, October 22, 1935, Page 16

FINANCIAL Prev, 1935 Prev. 1035 Stock and m— -Net. | High. Low. Dividend Rate. mm.mm uw.mcu- High. Low. Dividend Rate. Adaoo. High. Low. clnuCMe. High. Low. Dividend Rate. Add 00. High. uv Close. Chge. 41 Conn R&EL Df (434)- "o- 50 26% 13% Kennecott C (80c).. 59 24’ 23% 24% + % 50 32 Abr&Straust1.20.. 50s 50 gg +2 7 Consol Cigar- .. s 8 — %[ 19 10 Kim Clark (a25ej-.. F 18 18 + % 15 + 72% 51 AcmeSteel (t2).. 4 T3 71 Con C prpf ww 6%. 2% -1 5% 2% Kinney (G R) Co___ 24 2h— 9% dams Ex; T 23 8% 3% Consol Film__ . ___ 5% 2 Kresge Det Strs_.. 51 5% — % 351 z 8 3b% 14% Cons Film pf ($1%) ;: -]:: l};u 1;:;“ flun (g g) 1'1)1.)._ 4 % 26% 26% — % istri 16% 8 Addi ‘h (60c).. 13 16% 15% Consol Gas N Y (1). % + esge (8 S)pf(7).. Tells Members of District| 18 8 Addressoghcete). 13 164 7214 Consol Gas pf (5)— 99% + %[ 69% 56% Kress (S H) (1) Association New Law THE EVENING STAR, WASHINGTON, C, TUESDAY, OCTOBER 22, 1935. TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE/SIOCS RAEEULAR- =2 LATE IN SESSION Recent Leaders Go Down, FINANCIAL 2:00 I Prev. 19385 Stock and Dividend Rate. 9 Republic Steel_._.. 178 28% Republic Steel pf__. 78% Republic Stl pt A___ 13 Revers Copper (A)- 26% — % Reynolds M pf (534 110% 2 8% 63 Afiliated Prod 60c. 1% Consol Laundries__ . 4 — % 3214 22% Kroger G&B (1.60) 163 104% Air Reduction (13) . 63 Consol O1l (a25¢).. B — Y | — Is Most Helpful. BY EDWARD C. STONE. Robert V. Fleming, president of the Riggs National Bank and first vice president of the American Bankers’ Association, told 200 members of the District Bankers’ Association at the ‘Willard Hotel last night that he ~on- siders the banking act of 1935 most constructive, heipful and practical. In fact, as constructive and workable as that type of legislation can possibly be made. As the chief speaker at the associa- tion’s regular Fall meeting, he dis- cussed the new banking act in great detail, stressing all the highlights in this important law. In a recent ad- dress before the United States Cham- ber of Commerce he was distressed to see that he had been misquoted in a portion of the press, the claim being made that he had attacked and criti- cized the new law. While he criti- cized certain proposals in the bill as it was first presented to Congress, he was unstinting in his praise of the measure as it was finally passed. Mr. Fleming was introduced by Charles H. Doing. president of the association and vice president of the Washington Loan & Trust Co., who said the new banking act was con- sidered by the Federal Reserve Board to be the most important legislation of its kind passed in 22 years, or since the founding of the Reserve System. He said he was proud to introduce a member of the association who has become one of the leading bankers in the whole United States. Technical Points Explained. Mr. Fleming plunged right into the technical points of the new law, tak- ing up title I, the protection depositors have in the Federal Deposit Insurance Corp., the assessments which the banks have to pay and the limit placed | on the amounts the banks can be| called upon to pay in cases of emer- gency. He also spoke of the provi- sion of the law aimed at prevention | of the starting of new banks in terri- | tory which already has all needed banking facilities. Passing to title II he called atten- tion to the fact that the Federal Re-| gerve Board is self-supporting. The cost of operation is carried by the Government, and stock is held by the | member banks 'and not one nickel of | the taxpayers’ money is used. He dis- | cussed open market operations and | the improvement in the machinery of operation. Under the new law re- serves can be raised before an emer- gency and not after an emergency is actually under way, a vital safety step. | The salaries of the Federal Reserye | | Board members have been raised from | $12,000 to $15,000 a year. The speaker | regretted than the pension plan was dropped, fearing that some able finan- ciers might refuse to serve who other- wise would accept appointments. Thev credit base has been broadened very materially and the experience of two: decades used to splendid advantage in making this part of the law more workable and practical. The law re- flects @ broad conception of the sys- tem’s functions in the Nation's eco- nomic life, and defines more clearly than ever before the responsibilities of the board in Washington and of the regional banks. Title III was also reviewed in detail. To the public one of the most inter- esting points in this title is the fact that after July 1, 1937, the double lia- bility on all bank stock will be re- moved. At present there is no double liability on banks being organized. ‘This title contains many clarifications and improvements in- the technical provisions of existing banking law, Mr. Fleming touching on many of these in concluding his remarks. He attended so many conferences on the bill that his address was of excep- tional value. Given Ovation at Close. On motion of Frederick P. H. Sid- dons the speaker was given a rising vote of thanks for his address, with added congratulations and best wishes on his coming election as president of the American Bankers’ Association, to take place in New Orleans. The association amended the con- stitution to let representatives from all branch banks attend meetings of the safe deposit section. Each bank will still have but one vote, but the at- tendance at the meetings will be great- ly increased. Francis G. Addison, jr., chairman of a resolutions committee including John M. Riordon and J. Frank White, expressed the deep regret of the mem- bers over the death of Samuel R. Baulsir, for many years cashier of the Security Savings & Commercial Bank. On motion of James C. Dulin, jr., chairman of the Credit Committee, it ‘was voted to bring the records closer to date. Hilleary G. Hoskinson, chair- man of a special committee, reported in favor of an extensive advertising campaign to explain the work of banks and banking. The plan was presented to the special committee by the association’s Advertising Com- mittee. Mr. Siddons and Mr. Addison spoke in favor of the move and it was voted unanimously. The better pub- lic relations drive will start in No- ‘vember. Insignia of office were presented to David Bornet, chairman of the fiduciaries section; James D. Barrett, chairman of the auditors’ section, and Albert E. Fisher, chairman of the safe deposit section. It was stated that the work of the Community Chest is now. being brought to the attention of the banks. The unusually suc- cessful Fall meeting ended with a buffet supper. Mergenthaler at New Top. The Washington Stock Exchange caught the spirit of the New York Exchange today and trading was extra lively. Mergenthaler Linotype reached a new 1935 top when it sold at 35, up a full point from yesterday, and a 10-point gain so far this year, Georgetown Gas and Washington Gas issues were in good demand around recent levels. In the stock division Capital Transit sold at 1814 and 18% and a single share of Poto- mac Electric Power 6 per cent pre- ferred moved at 109. Capital board rooms were jammed today at the opening of the New York Stock Exchange, the tremendous vol- ume, at advancing prices, causing great interest. Virginia Power Bonds Offered. A new issue of $37,500,000 Virginia Electric & Power Co. of Richmond, Series A first and refunding 4 per cent mortgage bonds, dated Novem- ber 1, this year, and due November 1, 1955, are being offered today by & group of investment bankers headed by Stone & Webster and Blodget, Inc. ‘The bonds are priced at 101% and C- > 1% 20% 2% 85 7 19% 30%; 173 8% 5% 313 20% 4% T 57% 321 65% 384 % Air-Way Elec Appl. 13% Alaska Jun (160c).. D 2% Alleg pf w$30w (d). 1% Alleg pf XW (d) -omme 6% Alleg pr pf (d).____ 21 Allegheny Stl (1)... 125 Allled Chem (6) 314 Allled Stores _. 49 Allled Stores pf (5). 12 Allis-Chalmers____. 14 Alpha Port Cmt (1). 214 AmalLeather ____. 4815 Amerada Corp (2) 41% Am Ag Ch(Del) (3. 13% Am Bank Note . __ 43 Am Bk Note pf (3)_ 21 Am Brk Shoe (1) . 1281 119 Am Brk Shoe pf (7) 147 110 25% 571 224 96 5% 3% 178 10' 28% 124 9 A1, 4943 188, 277 14% 26% 53% 1174 76 AmCan (t4).. __. 10 Am Car & Foundry.. 25% Am Car & Fdry pf_. 8 AmChamn.__ ... 66 Am Chicle (18)-._— 2% Am Colortype 2213 Am Comecl Alcohol 6's Am Crystal Sugar. 72 AmCrysS1stpf 6. % Am Encaustic (d).. 2 Am & Forelgn Pwr_ 12 Am & For Pw $6 pt. 14 Am & For Pw $7 pf._ 47y Am & For Pw 2d pf_ 8% Am Hawallan Ss(1) 3 Am Hide & L(new) . 28 Am Hide & L pf(n). 29’ Am Home Pr (2.40). 17 Am Ice 14'% Am Ice pt (2) 4'3 Am Internatiol 9 Am Locomotive ___ 32 Am Locomotive pf 18'4 Am Mch & Fy (180c) 4% Am Mch & Metals _ 43 Am Mch & Met vtc_. 13!, Am Metal ___ 72 Am Metal pt (32) 14 Am Power & Light_ 10 Am Pw & Lt $6 pf. 10'; Am Radiator . 15% Am Roll Mills 2306, 4'3 Am Seating vtc 20 Am Shipbldg (2)_ 31% Am Sm&Refinin, 103 Am Sm&Ref pf (6). 144 121 Am Smé&Ref pf (7)- 63 Am Snuff (+3) _ 143 125 Am Snuft pf (6) 20% 43 701 12 Am Steel Found 3315 Am Stores (+2)____. 50% Am Sugar( 2) NI'\U 126! Am Sug pf (7) 27 145% 1028, 105'% 6% 26t 191 86 108 635 13, 5% 231y 28 17% 109 52 108 614 708, 110 6% 26% 18 23 493 10 10% 5la 115 19 95 18'; Am Sumat Tob (t1) 987% Am Tel & Tel (9) ... 721; Am Tobacco (5) _. 74% Am Tobacco B (5) 23 Am Type Fdrs (d 9 Am Type F pf (d) Tia Am Water Works 48 Am Wat W 1st (6)_ 4" Am Woolen . 352 Am Woolen pf % Am Writ Pap (d)... 3 AmZinc & Lead.._. 8 Anaconda Copper__. 1614 Anaconda Wire ___. 1074 Anchor Cap (80c) __ 963 Anchor Cap pf(614) 36 Archer-Dan-M(t1).. 97 Armour Del pf (7). 31 Armour of Illinois 553 Arm'r(I)pr of () 85 Arm'rof Il pf(33) _ 16} Armstrong Cork 600 4 Arnold Constable. . T'3 Asso Dry Goods 807 As DG 1st pf ($12). 48 AssoDG2dpr . __ 35% Atch To&S Fe (a2). 19'; Atlantic Coast Line 3 AtlGulf&W Ind__.. 2013 Atlantic Ref (1) ___. 32% Atlas Powder (2)... 4 Atlas Tack 15 Auburn Auto_ 2% Aviation Corp 1'; Baldwin Loco (d) 75 Baldwin Loco pf (d) 713 Baltimore & Ohlo__. 914 Baltimore & Oh pf__ 3614 Bang & Aroos (2%). 3l Barker Brothers 57 Barnsdall Corp t600 3713 Bayuk Cigar1t1) .. 107% Bayuk C 1st pf (7). 14 Beatrice Cre (a50c). 72 Beech-Nut P (13) 114 Belding-Hem (1) 1174 Bendix Aviation 151 Beneficial Lo U%). 34 Best&Co(2) 21% Bethlehem Steel _ 55% Beth Steel pf(a1%). 9% Blaw-Knox 6% Boeing Airplane 39% Bohn Alum &Br 90 Bon Ami (A) (14)__ 38% Bon Ami (B) (12) 21 Borden Co (1.60) . 28% Borg-Warner (2) .. !z Botany Min(A) (d). 815 Bridgep't Brass 40c = 24%; Briges Mfg (12)___. 257% 161% Coca-Cola 19% 23Ys Briggs & Strat (3).. 30% Bristol-Myers (12). 3614 Bklyn-Man Tr (3).. 90 Bklyn-Man T pf(6)_ 43 Bklyn Unton Gas(5) 3% Brunswick-Balke 4% Bucyrus-Erie_ 84 Bucyrus-Ecvpf___. 3% Budd(EG)Mfg ___. 23 Budd(E G)Mfg pf.. ). 13% Burr Add Mch(60¢) 1% Butte Copper&Zine. 11% Byers (A M) 32 Byers (A M)of_ 3014 California Pkg(1%) % Callahan Zinc 23 Calumet & Hecla . 715 Campbell-Wy (1) 8% Can Dry Gin Ale. 8% Canadian Pacific 4% Capital Admin (A)- 45% Case (JI)Co ___ 8315 Case (J [) pf (4)._= 3615 Catetpillar Tr (11). 19% Celanese Corp. - 1% Celotex Co (d) .- 11% Celotex Co pf (d)-.. 22Y% Cent Aguire (1%)_. 34 Central RROfNJ. 6% Century Rib Mills 38% Cerro de Pasco (4). 3% Certain-teed Prod._ 23 Certainteed Pr pf.. 37% Ches & Onio (2.80) 36 Chesapeake Corp(3) % Chi & Grt West (d). 1% Chi & Grt W pf (d). 15% Chi Mall Order (11). % Chi Mil StP&P (d). % Chi M StP&P of (d) 1% Chi&NW (@) ___ 3% Chi& N W pf «d)__. 4% Chi Pneumatic Tool 20 Chi Pneu Tool pf. % Chi R 1&Pac (d) .. 1% Chi R 1&P 6% Df(lfl 1% Chi R 1&P 7% pf(d) 3! ChildsCo .. . ___. 31 Chrysler Corp (1) 12 City Ice & Fuel (2)._ 69% City Ice&F pf(6%).- 124 Clark Equip (80¢) . 27% Clev Graph Br (t1). 20 Cluett Pnht'sdy a). pss 15% Colgate-P-P (50¢) .. 106 101 Colgate-P-P pf (6). 9 Collins & Alkman .. 69% Collins & Atk of (7) % Colo Fuel & Ir (d) .. 5 ColoF & 1pf (d)_ 20 10% Colo & South ______ 7 Colo & Sou 18t pf_. 6% Colo & Sou 2d pf 3% Col G & Kl (a20¢) 351 Col G & E pf A (6) 31 ColG&EDT (5)-_. 3414 Colum Ple vte (t1)_ 67 Colum Carbon (4) _ 3915 Comel Credit (23%)_ 119% 111 Comel Cred pf(5%) 106 23% 2 GSK 40% 15% “® 56% Comcl Inv Tr(12.80) 97% Comcl In T pf(43%). 16% Comel Solv (160¢).. % Comw & Southern._. 29% Comw & Sou pf (3)- 9 Congress Cigar..... 234 Conn Ry&Lt (43)- IWI » 37 EF EF 2 FESR FE FFEE FREFEE R 2 FEES FESEF @ +II+II¢ILI+II+I++II EPFFFPFEEEERIER [} e = &E F& X 2 106% 106 106 37% —1% 260! 107 106% 107 + % 2‘6~ 2% - % 17M 13% 10 13% 8815 74 65% 91% 60% 18% 1% 58 9 39% 14% 3% 14 - % 17% +1 144 = 15 10 -1% 14% +1% 881 +2 %5+ % 65% — % 97 +5% 49% —2% % 110% 110% — % 61 -2 40 523 28 43 19'% 1031, 6 50% 120", 40% 8 30% T 38%, 105, 8% 2613 i 35% 2813 12 2% 10% 44 20% 13% 14 Consol Textile. .. 8% Container Corp (A). 274 Container Corp (B). 415 Contl Baking (A)... % Contl Baking (B)__. 46% Cont] Baking pf (4) 623 Contl Can (3) __ 7 Contl Dia F (a55c) 287% Contl Insur (1.20)_ % Contl Motors __. 15'% Centl O Del a§23c_ % 15% — % -4 -% -t +2 =5 EE 41% Corn Ex Bk&Tr (3) x 30! 9 = o 60 Corn Prod Ref (3).. 4'4 Coty Inc. 357 Cream of Wh (12)_. 113 Crosley Rad (a26¢). 23'3 Crown C&S (1) 4313 Crown C&S pf(2.70) 315 Crown Zelleb'k vte. 14 Crucible Steel....._. 5 CubaRRpf._____ 54 Cuban-Am Sugar... 40%; Cuban-Am Sug pf.. 39% Cudahy Pkg (2%).. 15 Curtis Publishing_. 89% Curtis Pub pf (7). 2 Curt 6% Curti: 22% Deere & Co... 19 Deere&Co pf (375¢). 23!5 Delaware & Hudson 11 Del Lack & West _. 65 Detroit Edison (4). 2 Det & Mackinac_... 355 Devoe & R (11) A 114'; Devoe & R 1st pf(7) 26'; Dlamond Mtch t1%5. 34's Dome Mines (12) 6% Dominion Stores 17'; Douglas Alr (a76c 13!, Dresser Mfg A bl % 6% Dresser Mfg B ___. 2 Dunhil Internat! Du Pont (3.1 Du Pont deb (6) 3% Eastern Roll Mills_ 161% 110'; Eastman Kod (t5).. 16% Eaton Mfg (1) 3% Eftington-Schild 19% Elec Auto L (a30c). 37 Electric Boat. ___._ 5% Elec & Mus Ind.... 1'% Elec Pw & Lt 213 Elec Pw & Lt $6 pf_ 3 Elec Pw & Lt $7 pf_ 39 Elec Stor Bat (2%). 1'a Engineers Pub Sve. 14 Eng Pub Sve $5 pf 14; Eng P S $5.50 of w 15'; Eng Pub Svc $6 pt_. 4'; Equit Ofice Bldg... T Erfe R R = 8 Erfe RR 1st pf____ 6% Erie R R 2d pf 10%; Eureka Vac C(80¢). 15 Evans Products(1). 2 Exchange Buffet_ 17 Fairbanks Morse T1'3 Fairb'ks M pf 1313 5% Fed Lt & Tr. . 48 Fed Lt & Trpf (6).. 3% Fed Motor T(al0e). 2 Fed Screw Works__ i Fed Water Sve (A). 16's Fed’d D Strs (160c). 28'; Fid Phoen F1 11.20. 1314 Firestone (40c) 8415 Firestone pf A (6)_. 45 First Nat Strs (234) 20% Food Machine (1).. 97 Foster- Wheeler 60% Foster-Wheeler p: 19% Four Nat Iww al.10 17% Freeport-Texas (1) 4% Fuller Co 2d pf_. 7 Gabriel Co (A). 5'4 Gen Am Investors__ 32% Gen Am Trans(1%) 11% Gen Asphalt . ___ 73 Gen Baking (§0e) 146 115 Gen Baking pf (8) 8% 64 15% 591, 64 35% 372 1a 1513 11y 50 119 16% 5% Gen Bronze 2 Gen Cabl 4 Gen Cable (A) 19 Gen Cable pf 50 Gen Cigar (t4 20'; Gen Eleetric (30c). 30 Gen Foods (1.80) ... % Gen Gas & El (A) 8 Gen G&E 6%cv pfA 597 Gen Mills (3) 26% Gen Motors (12) 107% Gen Motors pf (5)-. 10 Gen Outdoors Adv A 1 108 42" 28 19 17T% 17% 14 103% 102 102!: 3 2% 8% 8% 3915 39% 52% 50% 27% 2T 22 35% 335 36 145 7 105'5 104 10s 3 3 39% 6 2 12913 1293 69 6% 16215 lfil' 11315 107 Elec Auto L pf (7). 180s 26 4 ey (e B R | 17% Gen Print Ink(1.60) 340s 9313 Gen Print Ink pf(6) 1is Gen Public Service_ 15% Gen Ry Signal (1) % Gen Realty & Util__ 14% Gen Real & U pf ww 16% Gen Refractories . 14 Gen St]l Casting pf.. 12 Gillett Saf Ras (1). 70'; Gillett Saf R pf (5). 2’4 Gimbel Bros 18 Gimbel Bros pf.. % 23% Glidden Co (t1) 1214 114 Gobel (Adolf) (d).. 14% Gold Dust (1.20) .. 715 Goodrich (BF) ____ 40 Gdodrich (B F) pf.. 15% Goodyear T&R ... 70 Goodyear $7 pf (4) 2% Gotham Silk Hose_. 20 Gotham Silk Hpf_.. 1% Graham-Paige ... 5% Granby Consol.... 2% Grand Union... 14% Grand Un pf (lli ).. 18% Grant ity Stl (1 23% Granite City 8 ret. 26 Grant (WT) (t1)_. 9% Grt Northern pf_.__ 9% Grt North Ore (50c) 26% Grt West Sug (2.40) 20% Greyhound Corp. 4 Gulf Moblle& N 6 Gulf Mobile & N pf_ 6'3 Hamilton Watch __ 63 Hamilton Watch pt. 16 bison Walk (1). 513 Hat Corp of Amer__ 1% Hayes Body _.___.. 85 Hazel Atlas Gl (5).. 11 Hercules Motor (1). 71 Hercules Pw (13) __ 73% Hershey Choc (3)... 81% 118 104 Hershey Ch pf (14). 19% 95% 8% 23% 8% .- 42% | 187 149% [nt By T% 33 6% 4% 6l 31% 5% Holiand Furnace.__ 6% Holland & Son (50c) 1% Houston Of] (new)_ 43 Howe Sound (13) .. 6% Hudson Motor Car. % Hupp Motors. 95 Illinotis Central..__. 15 Illinois Central pf_. 23 Indus Rayon (1.68). 60% Lngersoll-Rand (2). 46% Lnland Steel (2)__. 214 Inspirtion Copper—. 8% Interboro R T (d).— 4% Interlake Iron.__. 2% Int Agricultural 26 Int Agricul pr pf. ach (16). 3% Int Cai Ltd (20¢) 227 Int Cement (1) __ 34% Int Harvester 60s) . 162 135 Int Harvester pf(7). 1% Int Hydro Elec (A). 17 Int Merch Marin: 22% Int Nick Can) (30e. 130 123% Int Nickel pf (7) 3% 1% 36 67 86% 84% 50 Jones&Laugh?%Dpf. 300s 8% 13% 19% 26 84%4 26% 2% 18% 9% 1% Int Paper & Pw ( % Int Paper & Pw (B). % Int Paper & Pw (C). 4% Int Paper & Pw pf__ 21% Int Print Ink(1.40)_ 98% Int Print Ink pf (6). 9% Int Ry CA pfeecne 25% Int Salt (1%)ceeeen 42% Int Shoe (2). 16 Int Silver___ 6014 Int Silver pf T 8% Inte: 64 Intertype (a20c) ... 25 Island Creek C (2).. 49 JewelTea(3). ___ 38% Johns-Manv (ab0c). 3% Kans City Southn.__ 6% Kans City South pf. 7% KaufmanDSal.15_. 15% Kayser (J)&Co a90: 34 Keith-Albee-Or pf.. 6 Kelsey-Hayes (A).. 34 Kelsey-Hayes (B).. 10% Kelvinator (150¢).. .84 - Kendall Co pf (16) e 108 6 6 8 3 17 108 15 205 FEFIEF 91 30 | 33 158 130 37 3 3¢ FEF FIFE 3 .31 30 182% 180% 6% 6% 27 58% 146% 146'% +1 3 3 -3 3% 3% — % 30% 30% — 15 125% 125% +1 2% 2% - % 1% 1% 1 1 20 15% 16 15'6 % 2 33% 33% + % 808 106% 106'6 106% — % 108 ll 2 4 24 2% 1 54 14 85 ~1% 8215 +13% [3 9% + Y 18% — % 25% 90 +5% 25% 23% ~1% 1836 - % 100 92 92:.9254 28'% 21% Lambert Co (3). 12% 8% Lee Rubber (50c). 17% 10% Leh Port Cement. 3% 1% Lehigh Valley Coal. 13% 5% Lehigh Val Coal pf. 11%4 5 Lehigh Valley R R 95% 67'4 Lehman C (12.40) __ 17% 10% Lehn & Eink (1%)_. 9% 6l Libby McNeill & L. 44% 21% Li1b-O-Ford G1(1.20) 24% 21 LifeSaver (1.60)__. 120 94% Ligg & Myers (14)_. 122 93% Ligg & Myers (14)B 19'; 15% Lily Tulip Cup(15) 24% 13’3 Lima Locomotivy 43 17% Link Belt (80c) ____ 34% 24% Liquid Carb (11)... 49% 31% Loew's Inc (2) . 108% 102 Loew's Inc pf (I%) 1% 1 Loftinc _ - 215 1% Long Bell Lum (A). 41% 33 Loose-Wiles (2)__.. 26% 18% Lorillard P (11.20). 1% 3 La Ofl Ref (d) __ 22% 10% Loulsv G&EpfA 1%. 47'% 34 Louis&Nash(a2%). 26% 12% Ludlum Stael_ —_— 130 113 McAnd & F pf (6):. 10s 28 McCall Corp (2) 2 7% McCrory Stores (d). 6'3 McCrory Strs B (d). PMe McGraw Hill Pub __. 347 Mecintyre Porcu (2) 903 McKeesport T P (4) 5% McKesson & Rob 32 McKesson & Rob pf 8'4 McLellan Stores 85!3 8lcLellan Stores pf 18% Mack Truck (1) - 30’3 Macy (R H)& Co(2) 18% Magma Copper (2). s Manati Sugar (d) _ 4 Manati Sug pf (d) 3 Mandel Bros__._ 29 Man Elev gtd (d) _. 13% Man El md gtd (d) 10 Manhat Shirt (60c). 1 Maracaibo Oil Exp.. 5% Marine Midld (40c). 20 Marlin-Rockwell(2) 63, Marshall Field & Co 23% Mathieson Alk(1%) 357% May Dept Str (1.60) 5'3 Maytag Co. .. 33 Maytag pf ww 113 84!3 Maytag 1st of lll.- 41 MMelville Shoe (3)... 3 Mengel C 20% Mengel Co pf. 24'a Mesta Machine (2). 2'3 Miami Copper > 913 Mid Cont Pet(a40c). 81 Midland Steel Prod_ 60'a M1dl'd Stl 1st pf(8) 68 Minn Hon R (13) ... 37% Minn Moline Pw _. 31 Minn Moline Pw pf. 10% Misston Corp .. 2'; Mo Kans & Texas _. 57 Mo Kans & Tex pf__ 1 Mo Pacific «d) 1'5 Mo Pacific pf (4) 10% Mohawk Carp (1) .. 55 Monsanto Chem(11) 21% Montgomery Ward. % Mother Lode 171 Motor Products (2) 7in Motor Wheel (60c)._ 9% Mullins Mfg (A) 913 Mullins Mfg (B) 62 Mullins Mfg pf 134 Munsingwear Inc. 4% Murray Corp _ 41% 30 Myers (FE) & B (2) —_— 193 11 Nash Motors (1) ._ 271, 14 NashvChat&StL_ 10% 4!5 Nat Acme Co 10% 6% Nat Aviation 221 Nat Biscuit « 13!3 Nat Cash Reg(50c¢ 12% Nat Dairy P (1.20) . 103 Nat Dairy pf A (7) 208 14 Nat Dept Stores «d) 2 17 Nat Dept St pf(d)_. 1308 23's Nat Distillers (2)__ 10 at Lead (5) 5 47 Nat Pwr&Lt (60c).. 95 ‘e Nat Ry Mex 2d pf__ 40% Nat Steel (11) 9 Nat Supply Co 6 Nat Supply Co &% Nat Tea (60c) _ isner Bros (11)._. ewberry J J(1.60) T 109 NewberryJ J pf(7) 20s 114 4% Newport Industmes 59 &7 1813 N Y Airbrake_ 2 12% N Y Central RR 6 NYChicago & S 9ANYCht&StLopt _ ' N Y Investors (d)__ 2% N Y N H & Hartford 6 NYNH& Hartf nf 2% N Y Ontario & West s N Y Rwyspf (d)-_ 6! N Y Shipbuilding 51 N Y Shipbuild'g pf. 69 N Y Steam pf (6) 1 % Norfolk Southn (a). 193 158 Norfolk & W (18) _ 108 99 Norf& West pf (4). 4% 2 North Am Aviation 24% 9 North Amer Co (1) 53% 35! North Am Co pf (3) 21% 13'% Northern Pacific . 503 357 Northwest Tel (3).. 2% 1% Norwalk Tire&Rub. —_—— 14% 9% Ohio Oil (a30¢)_ 21% 16% Oliver Farm Equip.. 13% 315 Omnibus Corp vte. 4% Oppenheim Collin: 11! Otis Elevator (60c). 8413 223 Otis Stegl pr 1084 80 Owens-Ill Gl —_— 1T'a 14 Pac Am Fisheries__ 1 Pacific Coast 208 131 PacificG& E (1%). 46 19 Pacific Ltg (2.40)... 11 12 Pacific Mills ___ 70 Pacific Tel & Tel (G) 308 3!2 Packard Motors 12 Panhandle Pro & R_ 8 Paramount Pic.____ 84 Param’t Pic 1st pt 9% Param’t Pic 2d pf_. 2% Park Utah % Parmelee Tnnlp 39 47 Pathe Film Corp___ 8! Patino Mines 6413 Penick & Ford 57% Penney J C (2) 2% Penn Coal & Col 3 Penn Dixle 3 17% Penn R R (; 116% 108% Peoples D S pf(6%) 105 43'; 17% Peoples GasChi_._. 9% Pere Marquett, 13 Pere Marquette pf_. 16! Pere Marq pr pf- . 131 Pet Milk (1) - 5% Pet C'p of Am alle. 11 Pfeiffer Brew (11). 18 12% Phelps Dodge(azie) 18 23 PhilaCo6%pf (3). 2 1% Phila & Read C&I... 9 35% Philip Morris (1) ... 25 13% Phillips Petrol (1)_. 106 3 Phoenix Hostery... 2 % Plerce Oil 31 Pillsbury F1 (1.60)~ 7 PittaCoal ... . 515 Pitts Screw 221 Pitts Steel pf - 1% Pitts United Col 5 243 Pitts United C pf__. 130s 6% Plymouth Ofl-ceeee 1 6% Poor & Co (B) 15 Porto R Am Tob(A) 4% Postal Tel&C pf (d) % Pressed St Car (d). 424 Proc & Gamble $1%4 17 17 1377114 2% + % -% {8 B R Lany 2 It B T 8 10y 94 12% [ i sesfesas I++++++1 3 52 12056 115 Proc & Gam pf (5y-. 20s 119% 119% 119% +1 20% PubSve NJ (2.40).. 23 42 100 62% Pub Sve N J pf (6).. 99 111% 73 Pub Sve N J pf (8) 29% Pullman, Inc (1%). 5% Pure Ofl 95 34% Pure 011 6% Df_..... % 49% Pure Of1 of. 5 95 ~ 8% Purity Bakeries a 17% 8% 4 Radio Corporation. 623 50 RadioC'DPfA (3%) 81 35% RadioCorppf B.... 6 1% Radjo-Keith-Or (d) 10 4% RR Sec Il Cent___. 2615 16% Raybestos-Man (1). 43% 29% Reading (2). 11 3% Real Silk Hosi [Robt. 23% !l\t mmml LS lf- 1. 6. % pto.. Rem-Rand b 112% 112 8 341 33% 40% 42 +1 99 4+ % 112% + % 344 + % 915 + % 1% + % 95 +2% 16% — % 8% — % 55% + %W 9 1% 12% Reyn’lds Spring(1)- 26%, 43% Revnolds Tob B (3) 217 Roan Antelope Ltd_ 29 Royal Dal701 324 Safeway Stores (3). 10% St Joseph Ld (40¢). % St L-San Fran (d).. St L-San Fr nf (d)_ 8 Schulte Re Strs pf._ 55 Scott Paper (1.80)_. 4 Seaboard AIr L (d). % Seaboard A L pf(d). 20% Seab'd O Del (160c) 2% Seagrave Col 313 Sears Roeb’k(a75¢) 40 Seo Nat Inv pf 323 7% Servel Inc (50e).__ 9 Sharon Steel Hoop. 3% Sharp & Dohme. ... 7% Shattuck(F G) (26¢) 20% Shell Trad (a1.23.7) 5% Shell Union Of1. . 6314 Shell Union Ofl pf_. 8% Silver King C(40c). 6 Simmons Co. 5 Simms Pet (a50c)_- 614 Skelly O11 . - 60 Skelly Oil Df WW. 15% Snider Packing ... 10% Secony-Vac (30¢) - 20 Sou Porto R Sug(2) 10% South Cal Ed (1%). 12% Southern Pacific ... 5'; Southern Railway. 7 Southern Rwy pf. 5 Spalding (A G) 2 Spalding(AG)1st pf 59'; Spang Chalf pf $3% » Sparks-Withington 3l Spear&Co. . . 32 Spencer Kell (1.60) T% Sperry vtc (a2bc) .. 83 Spicer Mfg . .. l- ' Spiegel-May-S (3)_ 3 Stand Brands (30c). " 1225, Stand Brands pf(7) 160 2’3 Stand Com Tobacco. 1'3 Stand Gas&El (d) . 1% Stand G&ES$4pf(d). 4% Stand G&E$6pf(d). 6 Stand GRE$Tpf(d). % Stand Inv Corp____. 27% Stand O1l of Cal (1) 23 Stand Ofl of Ind (1) 35% Stand OLINJ (11).. 1215 Starrétt (L 8) (1)_ 58% Sterling Prod (3.80) 1'x Sterling Secur (A).. 3’4 Sterling Secur pf __ 6% art-Warn t50c._ s Stone & Webster 4 Studebaker Corp €0'3 Sun Ofl (1) 11 Superheater (50c) 1% Superior Oil 5 Superior Stee ~ Sutherl’d Pap t60c- 14% Swift & Co (11) ___ 1% Symington (A)(d)_ 6% Telautograph (60¢) 4 Tennessee Corp. 16'; Texas Corp (1)._ 28% Texas Gulf Sul (2). 14 Texas&PacRR _. 31 Tex Pac Coal & Ol1_ #'3 Tex Pac Land Trust 1315 Thatcher (1) __. 50 Thatcher M pf(2. 60) 5% The Fair _ 2!3 Thermold 2 Third Avenu 16 Third Nat In (adbe) 5's Thomp'n(JR)(50¢c) 13% Thompson Products 1% Thompson Starrett 9 Tide-Wat Asso Oil . 84 Tide Wat A O pf(6) 4% Timken-Detroit __. 28% Timken RB (11).__ 47 Transamerica«30c) 5's Transue&Willlams 1% Tri-Contl Corp 9 Tri-Contl Cor pf(6) % Truax-Tra Coal 313 Truscon Steel ___. 13 20th Century Fox .. 24% 20th Century Fox pf 23 TWinCity RT .. _. 18 TwinCity RTof. . 1240s 53% Und-Ell-Fisher (2). 29 Union Bag&Pap (2) 44 UnCarb&C (1.60)- 14% Un Otl of Cal (1)... 82! Un Pacific (6). 79'; Un Pacific pf (4).__ 20% Un Tank Car (1.20). 9% United Afrcraft_ 4'3 United Afr Line vto 7 United Am Bosch __. 20% United Bisc (1.60) 46 United Carbon 2. 14 Unit-Carr Fast (1). 1'; United Corp 20% United Corp pt (3)- 8%, United Drug 4'; United Dyewood . 65 United Dyew pt (7) 314 United Eiec Coal-_- 603 United Fruit (3)___ 9% United Gasimp (1) 8743 United Gas I pf (5) 5 U S Distributing pf. 43 U S & For'n Secur. 11 US Frefght (1) 40% U S Gypsum (1) 143 USGypsum pf (7). 5 US Hoffman 354 U S Ind Alcohol (2). 712 U S Leather A vtc_. 14% U S Pipe & F (50c) _ 19% U S P&F 1st pf1.20. 3 USRealty & Imp.... 94 U S Rubber.. 24% U S Rubber 1st pf_ 92 USSm & Ref (a8).. 274 U S Steel ___ 73% U S Steel pf (: 313 United Stores (A)_. 51 Univ Leaf Tob (12) 154 133% Univ Leaf T pf (8) 24 19% 4 14 2414 21% 328 4 45 29% 120 110 83 2% 8ty 323, “a Univ Pipe & Rad(d) 9% Univ Pipe&R pf(d) . 1 UtlPw&LttA) - '3 Vadsco Sales Corp. 194 Vadsco Sales pf.___. 11% Vanadium Corp 11% Van Raalte (a2sc)_. 34 Vick Chem (12) ... 21 Va-Car Chemical.___ 17 Car Chem 6% pf 85 Va-CrCh 7% pf(7). 72! Va E1 & Pw pt (6) .. 63! Vulcan Detin (a¢).. 4 26% Walgreen Co(1.60)_. 120 114 Walgreen pf (63).. 120, 9% 15% 3h T 643 5% 3 g 1% Walworth Co (d) 5 Ward Baking (A)... 1% Ward Baking (B).. 281; Ward Baking pf (2) 2% Warner Bros Pic . _ 1435 Warner Bros Pic pf. 5 Warner-Quin (d)__. 213 Warren Bros 714 Warren Bros cv p: 20% Warren FAry&P 1. 4 Webster Eisenlohr. 30% Wesson O&S (150c) 72 Wesson O&S pf (4). 34 West Pa Elec (1)A 397 West Pa Elec pf (7) 104's West Pa Pwr pf (7) 53 Western Maryland.. Ti3 Western Md 2d pt 14 Western Pacific.__. 23 Western Pacific pf_ 20% Western Union___ 18 West'gh'se A B60c_ 328 Westinghse El a50c. 90 Westhse 1st pf 3% 10 Weston Elec Ins.__. 29 Weston Elec (2) A_. 16% Westvaco Chi “40¢). 14% Wheeling Steel. 6% White Motor.. 12% White Rk M 8(1. 40) 1% White Sewing Mch.. 6 White Sew Mch pf.. Wilcox Oil & Gas Woolworth (2.40) 11% Worthtngton Pump 25'% Worth Pump pf.A .. 20 Worth PumppfB_ 35% Wright Aero __ 17% Yale & Towne (60¢) 2% Yellow Truck ... 31% Yellow Truck pf___. 18 Young Spr& W (2). 13 YoungstownS&T.. 3815 Youngst'wn S&T pf. 1% Zenith Radlo ... 2% Zonite Products ... Rights Bxpire. ¥ Budd M{g...Apr. 16 1 ,1.' Du Pont yielded 3, L4+ TEIL 44+ + + + | (4441411 ++1++1 4 +10 4+ Some Steels, Utilities and Rails Gain. STOCK AVERAGES l 80 Todus Rails. Uty Net change. —. +2thn Today, noon 71. 24| 389 Prev. day... 71.8 2«5 38.7 Month ago. 67.1 258 37.0 Year ago... 504 25.7 27.3 1935 high.. 71.8 276 393 1935 low.... 495 185 216 1934 high... 61.4 430 406 1934 low.... 453 228 243 - 175 8.7 239 ~ 516 953 618 613 (Complled by the Assoclated Press.) | BY VICTOR EUBANK, | 2asociated Press Pinancial Writer. NEW YORK, October 22—Profit? | taking waves toppled a number of thy recent leaders 1 to around 3 points in today's stock market, but some of the steels, rails, utilities and specialtiey succeeded in bucking the trend. The market boiled in the first houy with a turnover of 920,000 shares, th¢ largest volume for the opening peripd | since February, 1934. Selling was con. | centrated in such favorites as Chryslec Du Pont, General Motors, Case, Wests inghouse and Johns-Manville. Westy ern Union and Commercial Credi also yielded about 2 each, while Amer. ican Telephone, Douglas Aircraff Electric Auto-Lite and General Foods were off fractions to a point or more Liquidation dried up in the afters noon, but the late tone was highl; irregular. Transfers lppruxim;te’ 2,700,000 shares. Among share gainers of fraction: | to around 2 points were United State; Steel, Bethlehem, American Rolling Mill, National Steel, Otis Steel, Unioy Pacific, Santa Fe, Consolidated Gas North American, Public Service o — 1 | New Jersey, Packard, American Can +1's | Columbian Carbon, Continental Can | Caterpillar Tractor, Simmons Co, International Business Machines an{ American Can. On the losing sidy Chrysler an{ | Commercial Credit. 2 each; Genera A.\ Foods, 1, and General Motors, Casa + % | Johns-Manville and Briggs less thar a point. While bullish sentiment showed fc1 signs of cooling and public particip:, tion was sald to have expanded con: siderably in the past few days, some brokerage quarters were advising i more cautious trading attitude for th moment. The better tone displayed by variou utilities, rails and steels was in lim Wwith expectations of most coms mentators who have been calling at tion to the fact that these groups hav been far behind the industrial fa vorites. Optimistic estimates of cal | loadings, steel and electric power pro | duction also were helpful. Buying of securities from abroac | was understood to have picked up ex ceptionally. One of the big commis sion houses with foreign connection reported that current orders from Eu ropean centers were even heavier thay in 1928 and 1929. Much of this pur chasing has been for cash. By the Associated Press. NEW YORK, October 22.—Cottor continued to fluctuate within a coms paratively narrow ranges today. Southern hedging was again ab | sorbed by trade buying or covering with the orders fairly evenly dividell. December contracts sold up to 10.84 or 6 points net higher, and wen | holding around 10.79 in the midaften noon market, which was quiet at ne | advances of 1 to 3 points. Liverpool Quotatiens. LIVERPOOL, October (). —Cott. 1 29,000 bales. including n Ammun Spot in fair demand: prices 2 s lowe: | Quotations in pence: American atrict [ middling, 7.00: good middling. 6.70: stri middling. \; middiing, 640 xnm ln middling. i Jow middling. 6.0 good_ordin: -n 5.%0; good ordinary. Futures cloml steady. October. 6.15 cember. 6.05: January, 6.03; Murch. 00" May, em July, 5.99. NEW YORK BANK STOCKS NEW YORK. October o Security Dealers’ Associatio; (Quotations as of 2 o'elock.) Bank of Menhattan (1'2)_ G Bankers' Trust Brooklyn Trust (4 FIEE TESESEERFE §F @) lncludllu ex( Tas. U.S. TB.EASURY POSITION. By the Associated Press. The position of the Treasury on Octos a ceipts. $10,561.105.09¢ 23,342, 458.40: balance. $1. customs receipts for thj 50,048, 75431 Receluls for the 1 ear (since Jull $1.156.919.502.04: expenditures, 71.74 " (including 1 s decrese uxider” the previous da: 1591‘ 612,612 T'S so unnecessary for you to worry along with the details of managing your apartment house and residential proper- ties. Let our Property Man- agement Department assume them for you. Experienced service rendered for a nominal fee. B. F. SAUL CO. 925 15th St. Nat'l 2100 Mortgage Loans