Evening Star Newspaper, December 12, 1935, Page 17

. FINANCIAL, R8T TAES NVEN EORSE Galns in: Specialty and 0il Issues” Are Offset by Others’ Declines. By the Associgted Press. NEW YORK, December 12— Strength in specialties and oil shares was partially offset by lower tenden- cles in metals, ‘utilities and industrials on the Curb market today. Gains of small fractions to more ¢han a point were shown by Montgom-= ery Ward “A” Pan-American Air- ways, Tobacco & Allied Stock, -U. S. Foll, International Petroleum. Gulf Oll, Creole Petroleum and General Tire & Rubber. Singer Manufacturing's sensational performance in the previous session added another 14 points to its quoted value at 329 a share, & new top. Losers included Lake Shore Mines, American Gas, Electric Bond & Share and Bunker Hill & Sullivan. BONDS ON THE CURB MARKET. MESTIC BONDS . Rizh. Low. Noon. Ni3q ity Bdd 9% 99 Y uRly BRGy ORY 2 9012 90 it 7 o Alabam Pw 4125 67 Pow 55 ‘9l-- Alabam: . Alabam Aluminum Co 5 Aluminum Ltd Amer P & L s Am' Roll Mill 5 Am Seating bs_ alch Pow Senl s:‘ Ele ent Sta Cn 8t El 5 Com Edis 5s Com Edis Com Sub_3 e 534 ‘ 83c 31 M 10790 1073 107% 100ta 100t 10018 R41y N3t 84} Emp Dist Emp O & R ¥ Florida P&L Gary E & Gatineau PW Gen WG&E 5s Georgia Pw 3 Glen Alden Goeb B 61as A Grand Ti Grand_Trok 6las Hooa Rubber 75 Hyarade Fd 05 A 1l Pw & 4 11l Pw & L Hlas . Ind Elec_fs A Int Pw Sc Internat] Sait Intern Sc Am 55 Intersta B 35 » 8 i sa 10438 104 1017s 101 10832 103874 1034 To0is 100+ 100% 1074 1075 10 50 . A Mass Metro Ed 45 Metro Ed 55 F Midiand VRR, 55 4 . Nat 8 Nevada Calif 5s New Eng G&E 35 ' 3 H : 0 6914 1020 10204 10720 RO R 0 4 512 L 534 10534 Rois Rara mwr % 10814 10 » 10877 101 Peop y RiYe Peop GL&C 68 w1 Phila Elec 55 '8 30, 10 <301 10745 1030 > 21 at SE PAL 0s A " 10 Sou c.l“EEl.id 13as ¥ /K3, &7 0514 103% 0034 10034 = 100% BONDS. 10% 45 47 50 war- st 5128, / 47 t E 8 75 '50 xW.__ w—With warrafts. xw—Without ts. n—New. wi—When issued. SerSiamped. Negotiability impaired by maturity. #Companies reported in receivership. 7734 | Clev Tractor + | Columbia O&G vtc 3 | Cord Corp NEW YOR | By private wire direct %o The Stas. . kang Seles— mv‘lfil‘jfi:ll‘ :dl 00. High. Low. Close. 8 181 Aflb‘fn:!')! . 108110% 110% 110% Aero Supp! R ;\ :% ;k Alrinvyestors Inc.. 5 Alr Inv-inccy pf 1 21% 21% 21% Allled Mills(a2c) 8 28% 28} 23 | Alum'n Co of Am. 50s 86% 86x% 8 Alum'n of (1%) _ 505 108% 1084 108% Alum'n G'ds(45e) 3 16 16 18 Alum'n Ind (40c).850s 11 10% 10% Am Beverage ... 2 4% L) l:fi Am Capital l.i)... NN ities P M?f)u')',, " . B0s 45 45 45 AmCIt P&L (B).. 17 5% 5% O% ‘Am Cynam B 60c. 17 29% 20% 29% Am G&E (1.40) .. 13 37% 37 3% Am G&E pf (§) 258108 108 108 AmGenCorp -.. 3 8 % % AmGenCps$2pt. 1 32% Am Hard Rubber 508 ;l‘m 15% 25 1 82 2 % 9 3% 3o ™ 1074 10% 1% 61 33% 3% 3% ™% 10% 10% 1% 64 Am Laundry(40c) 1008 | Am Lt&Tr (1.20) 18 AmL&Tpf (1%). 1 Am Mfg Co s 16 Am Maracaibo.... 9 % Am Meter Co. ... 3008 19% Am Superpower.. 96 2% Am Superpwr pf.. 8 36 Am Superpower 1st pf (6) 2 82 Angostura (120c). ELy 4% A tachan Elec 3 va:, of (T) . 108104% 104% 104% | Arcturus RadloT 5 % ksl Ark Nat Gas . 3% Ark Nat Gas (A) 3‘? Ark Nat Gas cu f ™% Art Met Wks t40¢c. 3 10% Asso B 1 (p21%e). 1 10% AssoG&E(A) ... 6 1% Asso G&E 85 of . 1 () Asso Invest(180¢) 5008 Asso Laundries of America 2 Asso Laundries of Americavte .. 3 Atl Coast Fisher .. 51 Atlas Corp (a30c). 34 84 | Auto Voting Machine (1500). 3 | Ax-Fisher(3.200A 708 | Babeock&W (40c) 1758 | Baldw L bd ris(d) 40 Bellanca Afrcraft 13 w 2 Renson & H pf___ 100s R Bickfords Ine (1). 1 Bliss Co (E W) 4 Blue Rdg 1-10 stk. 16 lue Ridze pf (3). 2 ;Blumenlh-ls 2 | Bower Roll B (1). 2 2 1 | 534 s 67 | | 3 44 17 32 | 12h | 1% | Bridgeport Mach. 10 Brill Corp (B) _-. British-Am Tob cou B (93%e) _. Brit-Am Tobacco reg (a93 3-5¢) .- Brown Co pf Brown Forman | Buckeye P L (3)_. 508 40} 40's | Bufraio Niag & Eastp 1st-pf(5) 1008 1027 102% 102% Buffalo Niag & B P pf (1.60) Bunker Hill & Sullivan(a50c) . 1808 5: Burco In¢ 5 Burco ev pf (3) . Butler Bros E Cable El Prod vte. Cables&Wire(B)_ | Can Marcon Carib Syndicate... Carman & Co B Carnation Co (1 | Carrier Corp | Catalin Corp Celanese 1st pf(7) | Celluloid Corp pf- | Cent Hudson G & E ctfs (80¢) Central P&L 1% pf(1%).. - Cent States Elec_. Central States cvpt = Cent States Elec 6% pt Cent States Elec Electric 7% pf- Centrif Pipe (40c) Chief Consol Childs Co ot | Cities Serviel 28% 284 s 8% 40 4 24 237 N 5 ZRumme—nm Fi e 147% 1 | 19 | 200s 131 505 25 2 | 6 5% 5% | 2 s » | Cities Servic | Cities Service (B) 3 Cities Sve pf(BB) 90s 29% Cities Sve Pwr | & Light $6 pf 100s 35 3 City Auto St (60¢) Claude Neon Lts Clev Elec Illu (2). 16 31 T 3 Club Aluminum.. 24 ' | Colon Oit 5 % i3 | Colts Pat F A 11%2875s54% 523 54% | Columbia Gas & | Elec cv pf (5) 95 : 9Tu & 1%, 1| 615 ( 5% | 12% | 49% | 3 | Com'with Ed (4) | Com'with & S war | Community Wat § | Como Mines Consol Alrcraft. | Cons Copper Consol Gas of Balto (3.60) | Cons Roval (20¢). | Cooper Bess pf A | Corroon & Reyn _ | Cosden 0il Me (d) | Cosd'n O Me pf(d) ‘ Crane & Co Y 2 | Creole Petroleum. [ Crocker Wheeler_ Croft Brewing Crown Cent Petr | Crwn Crk Int {75¢ Cusi Mex Mining_ | Darby Petr (50c)_ Derby Oil & Ref._ Detroit Gray Iron & Fdry (b10c) .. Dictograph Prod | Distilled Liquors.. Doehler Die Cast. Driver Harris (1). Duke Power (3)__ 2 | Duval Tex Sulph.. | Eastn G&F Asso_. Eastn G&F pf fu AAE) 5 g East Malleable Iron (20¢) Eastn States Pwr. Eastn Sta Pw (A) Eastn Sta Pw (B) Easy Washing Mch (B) a3T%e. | Eisler Elec Corp . | Elec Bond&Share | Elec Bd&Sh pf(6) El Pwr Assoclates | El Pwr Asso (A).. | Elec Pwr & Lt optl war Elec Sharehold Pt ww (13). Elec Pwr & Lt 24 pf (A) 258 Elgin Nat W(al)_100s Emp G&F 6% pf. 75s kmp G&F 7% pf..100s Emp G&F 8% of.. 50s Equity Corp 27 European Electric Ltd bd rts_ | B Had | P e 00 234 | 16% | 8 8% | % 1% % 5% 13% 17% % 5% 13% 1 Fairchild Aviat'n. Faistaff Brewery . Fanny Far C(50¢) | 1tal Superpwr(A) | Mangel Stores s+ | Michigan Sugar. 21% | Mich Sug ;1 | Middle Stal 39y | M 3 | Ohio Oit cu pf(6)_ Stockand 8al by &D .. roc St pr vte (). nif Oflof Pa' 11 Lamp(a20e). ‘Helena Rubenst’] Hartman Tob. ... Haryard Brewery. Hazeltine Corp 41. Heela Min (a20e)_ 24 Hollinger G(t6be) 8 Horn&Hard (1.60) 600s Hudson BM&S(1). 23 Humble O1] (1) 19 Huyler'sof Del... 4 Huyler’s of Del 7% of (4) ......4508 Hygrade Food . Hygrade 8yl (2 11 P&L 6% pf- 111 Pw&Lt $6 pt__ 30 Imp Ofl Ltd coupon (160¢)-- 1mp O] Ltd reg (150¢) - Imp TobGB&I (a1.077-10) ..., Indian Territory Illum Oil (A) .. Indian Territory fllum Oil (B) ... Insurance Co of North Am (2) Intl Cigar M(1.80) Intl Hydro Elee Systemev pf __ Intl Mining t60e-. intl Mining war.. intl Petro (11%). Intl Products ... Interstate Hos(3) Interstate Power (Del) pt 108 Iron CapCop (r).. 1 Lron Fireman (1).150s 13 400s 1 17 50 5 6 Jersey Central P&L pf (6) ... 10s Jonas & Naum.._. 1 Jones&Laugh St 1008 KanCPSpfvicA 7 Kingsbury Br (d). 8 Kirby Pet (a20c).. 1 KnottCorp .ccue 1 Koppers Gas & Coke pf (6) _ Kreuger(G)Br(1) Lake Shore M(12) Lakey Fy & Mch Lebigh C&N(30¢). Leonard Oil .. . Leruer Stores (2). Lion Oil & Ref Loblaw Groc Ltd (B)(1) Lockheed Air xr_ Lone Star Gas 30¢ Long Island Light Long Island Light ot (B)(6) Loudon Packi new (t50c) _ La Land (40c) 60 Lynch Corp (2). '§ McWill Dredg(t2)400s 4 3 -. 50s 11 1% 10 15 10 1 N - 100s 1 4 2 808 4 Marconi Intl Mar (a26 3-10¢) Margay Oil(a50c) Marion Steam Sh._ Maryl'd Casualty. Massey-Harris __ Mem Nat G(al0c). Merritt Chap & S.. Mich Gas & Oil ) 3 4 13 3 ¥ 1 4 1 Petrol vtc (A).. iddle States | Petrol vtc (B)__ | Middle W Ut (4) Midland Stl Prod_ Minn Mining & Mig (160c) Mohawk Hudsen 1st pf (4) - 1508 ohawk H 2d pf__ 50s Molebdenum ____ 5 Mont-Ward A (7) Moore Corp Ltd PL(A)(T) ___ 1808 Mount & Gulf____ Mount Frod (60¢c) Mueller Brass 80¢ Murphy Co (1.60). Nat Bella Hess __ Nat Fuel Gas(tl) 4 2 10 5 808 Nat P& L pt (6) Nat Rubber Mach Nat Service . ____ Nat Suzar N J (2) NeniCorp._______ Nelson (Herman) New Brad O (20c) | N J Zine (12) New Mex&ArizLd Newmont Mali;. N Y & Hond (11). N Y P&L pt (1) Niag Hud Pwr Niagara Hudson Pwr (A) war_ Niag Sh Md (B)... Niles-Bem-Pond. Nipissing (25e) Noma Elee Corp. North Am L&P___ North Am L&P pf 600s Nor Am Mat (1) . 508 North'n Euro Of1 18 Northern Ind Pub Sve 6% pf (3)__ 40s Nor Ind Pub Sve 7% pf (3%) Northern St Power (A) _._ Novadel Ag (2)__. 508 - 108 2 5 kil 33 2508 9% 8 13 4 35% 3% 334 18% k) 20% 1 8% 1% 34 81% % 10% 1 354 52 9 22% 2% 75% 76 33 33 9% 12% 1 3% 35% 3 32% 9% 2% 4 35% 34 3215 184 18% b 28% # i 94 i 81% IU‘: 351 8 & 7% 36 11 143 143 35 22% - 3268 23'; 2 BT 58 sl 84 3 22% 22 38 ; | Ohlo Brass(B) (1) 200s 30 { Ohio Edis pf (6) . 1758102% 101 37% g 30 102% 11033« 103% 103% Ohio Pwr pf (6)__ 108110i: 110% 110% Ol Stocks Ltd (t40e) Outboard Mot (A) Outboard Mot (B) Pacific Eastern Pacific Gas & Elec. Pf (1.8735) __._ PacificG & B 1St pf (1%)..__ 3 29 1 3 Pac Light'g pf(8) 758106 106% 10614 1% bl -26% 29 - Pac Tin spec (a2) 100s 44% Pan-Am Afr (1) Pantepec Oil - .__ 201 Parker Rust (t3) 8508 Pennroad Cpa20c. 24 Penn P&L pt (73 6. 4% 41 64 378 108107 107 Pepperell MIz(3). 70s 66 Phoenix Secur.... Phoenix pf (3) . Ple Bskeries (8 Pierce Governor__ Pioneer Gold Mines Litd (80¢) .o Pitney Bowes P M (120c) Pitts Forge . Pitts & L E (. - Pitts Plate G1(12) Pleas Val Wine.... 4 6 15 2 2 6 Pressed M 37%c _ 508 Prod Roy'ty(23¢) 21 Prop Realiz v.t.c._ 100s Propper McCall'm Pub Sve Ind pr pf_ 10s Pub Sve Northn 2758 --- 1758 1. 1 1 : 8 1 - 9% 8 T 2008 7214 98 2% 4% 24% 3715 1% 20 % 17% i 32% 45% 18% dby. 39% 9 En 12w 2 11% 1% 114 1% 5 13 5t 26% 287 28% 26% 3% 3% 107 65 65 39% 39% 9% 9% T Th ™ 9w K ) 32% 32% 51 51 45 45 18 18 lz'il 4% 4 b CURB MARKET Bales— 4 2% 2% 2% 200s 82 81% 81% 1 64 B4 8% 19 2% 2,2 1508 1277 125% 126% 110810734 107% 107% 'ms of Canada..550s 18% Binger Mfg 146)._ 808329 Singer Mfg Ltd rcts (a28%c)... 2 3% Bonotone Corp.... 7 2% .South Am Gold { 17 2 Selecied Belected Indus allot ctfs (33). Bhattuck Den Min 8% 2% LA 32 2% b2 8% 2% & Plat (a30c). 4% So Penn 011(1.60) . 32 Southn Calif Ed of (B)(1%).__. Southn Colo Pw A. So'land R (120¢) .. Spanish&Gen rets Square Deal Co DL (A)(2.20) .. 4008 Stahl Myer Inc:_. 1 Stand C&S (2.40) 768 Stand Dredg cv.pf 508 Stand Inveupf 2508 Stand Oll Ky (t1). 3 Stand Ol Nebr.... 2% 2% Stan Sil&L(alc) . Starrett Corp (d). Stein(A)& Co (1). Steson (J B) ... Stuts Mator o » e Y L Sunray Oil Sunshine Min (2 Swift Intl (2). Swiss:Am Elpf ._. Swiss Ofl Cp a20c.. Taggart Corp _ Tampa Elec(2.24) Tasteyeast(Del)A 14 Technicolor Inc.. 6 Teck Hugkes(40c) 30 Tenn Elec Pwr 1st pf (7). hTenn Product o = S S8 » o 5 Thermoid Co pt Tobaceto & Allied Stocks (all3).. 25s { Tob Prod Ex(10e) - 37 Todd Shipyard (2)100s Tol Edis pf A (7)_ Tonopah Mining Trans-Lux Daylite | PicSn (20c) Tri-Contl C war. Tubize Chatillion. Tung-Sol Lamp. | Tung-Sol L pt(3)_ | Unexcelled Ma10e { Union Am Invest.. Union Gas (Can) (al0e). ... —aee | Union Tobaceo-.... | Unit Corp war____ Unit Dry Dock(d) Unit Gas Corp ! Unit Gas Cwar___ | Unit Gas Corp pf- | Unit Lt&Pw (A)_. | Unst Lt&Pw pt_ Unit Profit Shar Unit Shoe M t U 8 Dairy (B) 1 U S Elec Pw ww_. | U § Finishing .. 1 US Foil(B)«60c). u u 33 105109 1 3 & Intl Secur_.. Lines pf_ U S Radiator.. U S Radiator pf. U S Rub Reclaim.. Uit Stores vic Uta Verde Ex f2 Unit Wall Pape! Univ Consol OM ... Univ Insurance _. 5 Univ Prod (1.60 Utah Apex___ Utan P&L pf | Utica G&E pt (7 Utilities Pw&Lt__ | Utllity Equities__ Utility & Indus pt Venezuela Petrol. Vozt Mfg Co (1) Waco Aircraft.__. Walgreen Co war._. Walker (Hiram).. Walker (H)pf(1). Wayse Pump Wenden Copper. W Va Coal & Coke Western Auto e Ses & S s S s S | Williams (R C) Wil-low Cafeteria Wil-low Cafe pt Wilson Jones al¥% Woudley Peu (40¢) Wright Harg t40c Yukon Gold 2 Dividend rates in doliars based on iast Quarterly or semi-annual payment. 1 An- s year. d Companies repe: i CPlin dartial disiribution Dar dividend. P BUTTER—One-pound prints (92 score) ; tub. 3a: 1-pound Prifts (40 score), 35 1'pound prints (80 score), 94: TS—Beef, 1013a18: veal, 17%3a10 + pork foins, Wiate: hams. smoked, 0. strip bacon, : compounid. 1salide. ogs, light, §.00a9 | , Prices by the United Sta Asticuitural Economics; hics Buresu of | 10 EGGS—Market low 3 Teceipts. - large. J; hennery wnites. . 288307 Govern- ted While eggs (in- marketing costs). 8; U. . exiras, me- LIVE POULTRY i — ofarket w chickens; other classes unchaaged. - Colored. e vazu; Lesnoms, pring chickens, | Rocks, inixed colors. L oalv. | heavy, “ux: “light, 2b: siips, | 1owl, " young, ;Ual.00 & pal | young hens, 25. young toms, and Vesetables, Sales in large lof § les I Jots by original -receivers APPLES--One Maryland: ing- ton “ariyved: one Broken. ang thise oh: Dbroken ‘ears on ls: Suppiies Medcrate. demand siow: Inarkei steady: Virginia, ‘Stay U. 8. No. 1. 2Vg-inch minimum, a4 3. 4-ind %nrm Era od’ muen. iea” an icuding grading { U. 8. exiras, lar | alums, 33: . u * 2 ineh mingm, g0 unum. 1,10l ¥ 75ay minimum. ¢ inimuin, 3 0. inch minimum, . 1. 2Y-inch 5 inimum 908 utility. mum. Delicious. is varieties, 40a75. es: Delicious con-ni‘imtfléna extra fancy f T.00° € arade. 1408165: fancy. 1.508 3 Fomes. combination extra fancy and fancy. 1.50a1.85; aragons, comhlnltlula e{trg {angy nd fancy. 1.50a1.85: C grade 1.3 al.50. according to si: I3 17% 17% | 320 329 DECEMBER 12, 1935. 4,150,000 MOTOR QUTPUT FORECAST Reeves Predicts 1935 Total 45 Per Cent Ahead of Last Year. | Br the Associated Press. NEW YORK, December 12.—Alfred Reeves, vice president of the Automo- bile Manufacturers' Association, re- ported that an output of 4,150,000 cars and trucks in the United tes and Canada was indicated for the year 1935. r He told directors of the association that the figure surpasses all years back to 1929 and exceeds last year by 45 per cent. ‘Trucks were figured at 760,000 units, a mark surpassed only in 1820, when . | about 66,000 more units were made. Reeves said production of trucks in the fourth quarter this year will estab- lish a new high record. . He estimated that registration of all cars and trucks combined at the end of this year will approximate 26,000,000 vehicles, a gain of about'4%; per cent over last year. Of the number 3,550,- 000 are listed as commercial vehicles, a new high. Reeves’ report said sales of American + | cars outside the United States during the year will total 550,000, a gain of 20 per cent over 1934, MONEY MARKET. NEW YORK. December 12 (#.-—Call money steady: 3, per cent all day. prime paper. 3 per cent; time loans steady: days. 8 months. 1 per cent offered; bankers ? Sotoptacces unchanged: rediscount rate, New York Reserve Bank. 11; per cent. irregularly | Dated December Order Is Placed By Union Pacific: For Moré Trains By the Associated Press. - OMAHA, Nebr., December 12 —Car R. Gray, president of the Union Pa- cific Rallroad, announced today the compauy's - directors had gpproved construction of two mew -Digsel-pows ered streamiined trains for service between Chicago and Denver, They will give the Union Pacific six such trains, The contract has been awarded to the Pullmag Co. in Chi- cago and construction has already started. No date was annovnced for inauguration of service, ‘The new trains, of 10 cars each and powered with 2,400-horsepower Diesel- driven units, are expected to provide 16-hour daily service between the two cities—nine hours under the present fastest running time. CHECKS ON INDIVIDUAL ACCOUNTS HOLD RISE By the Associated Press. ‘The Federal Reserve Board’s No- vember total of chécks drawn against individual bank accounts in leading cities maintained the record of wide gains over 1934 shown in earlier months of the year. Moreover, reserve officials said, the flow of checks recently has indicated some increase in turnover of bank deposits. Last Summer the velocity of deposits was figured to be the 7 slowest in recent years. | Aggregate debits for 141 cities com- pared as follows: November, 1935, $32,344,076,000. Previous month, $32,964.535,000. Same month last year, $24,752,- 082,000. i which does FINANCIAL, WHEELING STEEL - T0 ISSUE BONDS $35,000,000 Due in 1966 to Bear . Interest Not Ex- ceeding 47/ Per Cent. By the Associated Press. NEW YORK, December 12.—Wheel- ing Steel Corp. will issue $35,000,000 of bonds due 1966 with an interest rate not exceeding 4’ per cent, the company announced today. Proceeds from the sale will be used to retire issues now outstanding and also to pay current bank indebtedness and provide additional working capital. ‘The corporation already has called for redemption on January 1, next, $9,037,000 first and refunding 5% per cent: bouds, due July 1, 1048, énd in- tends to call and redeem on April 1 next, $15,695,000 of 41; per cent bonds due April 1, 1953, — FEDERAL LAND BANKS NE! Land Bank bonds (Quotations as of 2 o'clock.) Bid. Asked Jan, 1 B I May, 1 PHII.ADELPHI; PRODUCE. PHILADELPHIA, December 12 (.—Live poultry—Plymouth Rocks. mixed colors, Dressed poultry—Young,_turkeys, South- western, 2822 ns, Western, 27234 ducks, Western and Maryland. $45,000,000 1,1955 Due W YORK, December 12 (#).—Federal | $45,000,000 1ssue Of Southwestern Bell Is Offered Special Dispateh to The Star: NEW YORK, December 12.—An ise sue of $45,000,000 first and refunding 32 per cent bonds, series B, of the Southwestern Bell Telephone Co. being offered to the public today by & group of investment banking houses headed by Morgan Stanley & Co., Inc, The bonds are dated Decémber 1 this year and are due December 1, 1964, ‘They are priced at 102); per cent and interest. The net proceeds, estimated at $44,« 935,000, will be applied to the retires ment of $48,863,600 outstanding series | A bonds called for redemption Februs ary 1, 1936, at 105. The nec balance will be supplied from the company’s curent cash and temporary | cash investments. ‘The company is & subsidiary of the American Telephone & Telegraph Co, and Js one of the associated companies |of the Bell System. It operates in Missouri, Arkansas, Kansas, Oklas homa, Texas and part of Illinois ad- jacent to St. Louis. Net income for nine months of this year is reported | at $10,827,317. GASOLINE TANK CAR QUOTATIONS FIRMER By the Associated Press. NEW YORK, December 12.—Advices from the Mid-Continent gasoline tank car market indicate a firmer price structure. Quotations on low octane material are reported at 43, to 4% cents a gallon,. equaling the year's peak. Trade sources attribute the im- provement to a continued high rate of | consumption, reduced refinery opera- tions and active purchases by major companies. This is not an Offering Prospectus. The offer of these Bonds is made only by means of the Offering Prospectus. This issue, though registered, is not approved by the Securit not pass on the merits of any registered securities. and Exchange Commission, | Southwestern Bell Telephone Company First and Refunding Mortgage 3"2% Bonds, Series B December 1, 196} Interest payable June 1 and December 1 in New York City or in St. Louis GUARANTY TRUST COMPANY OF NEW YORK, CORPORATE TRUSTEE Coupon Bonds in denominations of $1.000 and $500, registerable as to principal. Registered Bonds in denominations of $1,000, 85,000 and $10,000. Coupon Bonds and redistered Bonds, and the several denominations, interchangeable Redeemable, at the option of the Company, in whole or in part, upon at least 60 days’ notice, on any interest payment date. at the following prices with accrued interest: to and including December 1, 1945, at 1071,%; thereafter to and including CAPITALIZATION PURPOSE qualifying shares, is owned bj First and Refunding OF ISSUE deducting the estimated expenses of the approximate $44,935,000, and are to be applied, together with funds which the Company expects fo obtain from its current cash and temporary cash investments, to the retirement of the Series A Bonds which December 1,1950, at 105%; thereafter to and including December 1, 1960, at 102/, States of New York, Massachusetts and Connecticut. connecting lines. The business of the Company is subject to regulation, w the Federal Communications Commission and by certain state and municipal authorities. (assumed, Guaranteed First Mortgage Five Per Cent Gold Bonds of The Suburban Telephone Company, due May 1, 1936 lortgage Five Per Cent. Gold Bonds, Series A, d Notes Sold to Trustee of Pension Fund (4% Demand Notes). Seven Per Cent. Cumulative Preferred Stock—par value $100 per share . Common Stock—par value $100 per share ....p...covviiiinienniininnnes The net proceeds to the Company from the contemplated sale of the $45,000,000 Series B Bonds, after Company in connection with such sale, ue February 1, 1954 ; and thereafter at 100%. Legal investment, in the opinion of counsel for the Underuriters, for Savings Banks in the The following is merely a brief outline of certain information contained in the Offering Prospectus and is subject to the more detailed 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 Bond THE COMPANY Southwestern Bell Telephone Company, all of the common stock of which, except Directors’ the American Telephone and Telegraph Company, is one of the associated telephone companies comprising the Bell System. The Company, incorporated in Missouri in 1882, is engaged in the telephone business in Missouri, Arkansas, Ka portion of Illinois adjacent to St. Louis. The Company’s properties consist princ and facilities for their inter-connection, the latter consisting chiefly of cenira Oklahoma and Texas and in a small lfally of telephone instruments office switching equipment and within their respective jurisdictions, by Outstanding as of Sept. 36, 1935 $ 139,000.00 48,836,600.00 7,886,620.03 21,785,500.00 173,000,000.00 e expected to the Company is calling for redemption on February I, 1936, at 105% and accrued interest. 1932 1933 1934 | 1935¢ estima BONDS ; Compa of its business in 1, of which $5,900 1t is e Decem| The Underwriters have agreed to pur pending rate cases. SERIES B The Series B Bonds will be issued under the Company’s First and Refunding Mortgage and will be secured by a lien on substantially all real estate, buildings and telephone plant owned by the ny in Missouri, Arkansas, Oklahoma and Texas and appertaining to or useful in the transaction 'pon redemption and payment of the Series A Bonds, the Series B Bonds will constitute the only then existing indebiedness secured by lien on such property, except for prior tax assessment liens and prior closed mortgages on small portions of such property securing $144,900 of bonds, The Mortgage permits the Company, without a release from or notice to the Trustee, ted that delivery Operating Revenues* $72,376,713.06 67,026,821.58 70,047,920.39 55,024,946.50 {Xine months ended September 30. SInclude approximat-ly $839,000, $£56,000, $250,000 ond §226,000, respectively, which the Company would be r ® indable in whole or in part to subscribers in the event of adverse decisions in Reservations of Surplus have been made against this contingency. States. Total Income 916,368,136.79 15,117,035.33 16,165,412.61 13,063,789.58 Fixed Charges $3,303,576.51 3,204,802.36 3,050,822.98 2,236,472.28 BARNINGS The Income Statements in the Offering Prospectus show the following as the Company’s Operating Revenues, Total Income (the amount available for Fixed Ci ) ed C and amortization of discount on funded debt), and Net Income, for the periods indicated below: Years Ended December 31 ges), Fixed Charges (all interest charges 11,912,232.97 13,114,589.63 10,827,317.30 matured but unpresented. The Mortgage does not cover any property in Kansas or Illinois. tus have severally agreed to p lus accrued interest. Such Bonds are to Series B Bonds are limited to the amount of $45,000,000 now authorized. The Mortga, the issuance of additional bonds of other series, which would rank pari passu with the Series B Bonds. in certain instances, to dispose of property covered by the Mortgage and also provides for releases and substitutions of such property. 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 sinking fund agent, to be used as a sinking fund in purchasing Series B Bonds, but only if obtainable at not exceeding their principal amount and accrued intereat, the sum of $250,000, on June 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. UNDERWRITING guwoc! to certain terms and conditions, the Company at 100'4, %, or a total of $44,220,000, p at ml/.f.. ora to!al‘/’ol $45,100,000, plus accrued interest. The underwriting discounts are 2% of such Bonds to the Underwriters, and 18, 1935. There is no firm commitment for the remaining i to sell such Bonds on or before February 1, 1936, without underwriting discounts or commissions, of Pension Funds established by the Company and by other companies of the Bell System, at 100'4%, or a total of $ 1,005,000, plus accrued interest. urchase an aggregate of $44,000,000 Price 102Y:% and Accrued Interest however, permits certain Underwriters named in the Offering of these Bonds fro; be offered to the ubg or a total of ,000. yment therefor, is to be made on or about f:'.pn,pu of Bonds, but the Company expects to the Trustee ohase $44,000,000 of these Bonds when, as and if issued, and Davis Polk Wardwell Gardiner & Reed, counsel for the Underwriters, counsel for the Company. It is expected that delive on or about December 18, size. 1 cAnlel—fio oarlot arrivals: one car giverted: three broken cars op track. 8up: |2 erate: demand _slow: }l&ldy d -1. N Fansteel Metal ... Fedders Mfg Co (623%c) _ Ferro Enam (80¢) 16% 16% 26% 26% 24% 24% LI 08114% 1143 114% 8 6% 64 614 6 39% B88% 38% - 100s 5414 83% 53 25% % 21 2 ! l'ord"l"otor Ltd 5 g (al1.7e. * m.aufl)crc e Lok = ev f (1.20) Gen Alloys.... Gen Fireproofing.. Gen Out Adv pf_ .. b0s 14% Pyrene Mfg(a20e). 1 6 Rwy&Lt Secur __175s 18 Raym'd Concrete. 25s 8 Raymeond Con pf_. 60s 28% Reed Roller B(t1) 100s 42 Reeves Dan (50¢). 4 17 Reiter-Foster ... 10 % % % Rellable Stores___ 26 12% Y barn Co 4 Reybarn Reynolds Invest.. Rice § ! FOREIGN MARKETS. B the Associated Press. N.—The approaching week 'k Exc] LONDO! seftiement on the restrictive guet ‘and unister ad¥anced stgcks rema ‘other issues were.neglected. The mar- closed e . ARIS.—Refites. bank stocks and in- trial shares advanced on the Bourse to- as traders viewed both the intern: internatiorml situations favorably. Ii tional issues moved irregularly, The clgsing tone was irregular. their down- ~—Prices_conti U subject to the approval of Messrs. and Messrs. Bryan, Williams, Cave & McPheeters, of Bonds in temporary form will be made at the office of J. P. Morgan & Co. 1985, against payment therefor in New York funds. 14% 14y% 6 6 New 115 18 2 0-pound sacks. 60 8 8 |T66bb-Boukd ‘m{q nambers, domestio acked fes 22 22 Weam @R~ S end ‘hange had & %, which wi of (T) - Fisk Rubber_____. Flintkote (1) FlaP&Lof _ Ford M Can A 1 ’—No carlot arrivals: one brol nd, brol L 8 g o ek S e e B SR istration Statement on file to each purchaser ~— is contained in the 'us which must be furnis. m the undersigned. Further information, in particular financial statéments, with the Commission, and in the Ofering Pi and is obtainable nu wipt tiand on e Bourse todn t and at the day's lowest le { NEW YORK PRODUCE. YORK. D!::mbll’ 12 (M,—ll?, !]eétnlmarfln:u’ colors: lucéllllzlg‘! L erae Mg oAl aRdacds. 30: dirties. N 1, :” pounds, 23 0. 2 g tors. standards, 23-2: rsts, mediums. fl%-'w'fi mna. ma&a‘» extra (92 score) ). 31%-32%: (00 \ 32 heese. 21 ve ken, . 318 ‘dull. Prices. “' 3 poultry. irres R freight: R ok ~ [ MORGAN STANLEY & CO. . Ineerporated KIDDER, PEABODY & CO. THE FIRST BOSTON CORPORATION EDWARD B. SMITH & CO. 1, crates, washed. 3-4'5 dozen, n‘l_nd“zgm“:‘nb[‘ok-n rs on ‘33'"‘“ - m stock: suvz es gss‘u' P ol 8, 1 el mpers, ‘Boston type, 1.00a1.25. mostly 1.00: poorer. Ma ‘Duil. B o T?';: St KUHN, LOEB & CO. T LEE HIGGINSON CORPORATION - fornia arrived: three b track. d licht: market weak. ¢ 13 Supplies i Ploria Bir Bosto ‘ : ONIONS—One Michigan _arrived: 4 BROUWN HARRIMAN & CO. Incorporated U. 8. No, 1, 1.2581.35: most) L . i i = ‘.'ou'mornh arrived: one ear car on track. Intl Corp. Gen Tire & Rub _ 9258 62 1 | RUSSeks Fifth Av. Glen AldenC'(t1) 9 '16% Rustless Globe Und (a60c)- 6 15% 1 Ryan Con: Godchaux Sug(A). 100s 28 Godchaux Sug(B). g g&u Bcsl“l)l (@)-- Gorham of ww___ 100s Ir & Stl.. 801 oo a1 ket dull, es, S 1M e S38-Rvay, 35 centrals ; I - Haast8l aina - Dated December 18, 1035. e [