Evening Star Newspaper, June 19, 1936, Page 18

A—I8 *%+ DEY WILL HEAD VIRGINIA BANKERS Senior Vice President of State Group Slated for Election Tomorrow. BY EDWARD C. STONE. James B. Dey, jr., senior vice presi- dent of the National Bank of Com- merce at Norfolk, a vice president of the Vlmnh Bankers' Association, is slated to be| elected president | at the final usi- ness session at the annual con- vention tomor- row at Virginia ¢ Beach. He has been very active in Old Dominion § banking circles and has made a fine record with the association. ‘The 300 dele- gates attending the “forty - third annual gather- ing have rejected a proposed amend. Al James B. Dev, ir. mend to the constitution which fa-| vored creation of a trust section. The amendment had been approved by the Executive Council and recom- mended for adoption, President Brown reported, but the two-thirds required vote was not forthcoming. The op- ponents to the amendment felt that the creation of a trust section would menace the unity of the association. Higher Trust Fees Urged. Merrel P. Callaway, president of the trust division of the American Bankers' Association, urged the for-| mation of such a section in an ad- dress shortly before the matter was put to vote. He also recommended that the trust departments in banks be given greater attention and praised the Federal Reserve rule that an executive officer qualified to adminis- ter trusts be placed in charge of trust departments. Since the quality of the service cannot be reduced, he said, the banks must ask higher compen- sation. Secretary C. W. Beerbower of Roa- noke reported that the association has 393 members. James M. Ball of Richmond, chairman of the Commit- tee on Bank Protection and Insurance, reported five hold-ups during the year resulting in losses totaling $8,400. ‘The bankers were urged to keep up their vigilance against ‘“check flash- ers” and other forgers, the Associated Press reports. J. Randolph Tucker of Richmond, association attorney, gave a detailed discussion of bank legislation enacted by the 1936 Legislature, particularly the amended banking code on which he and members of the Legislative Committee advised a subcommittee of Gov. Peery's Advisory Council before its submission to the General As sembly. Group Reports Presented. “You should know,” Tucker said, *“that every cated by the association was enacted into law and that in every instance in which a proposed bill was actively opposed by representatives of the as- sociation, it failed of passage.” Groups reports were heard from G. W. Mumford, Onancock; S. measure actively advo- | L. Bar-| Round | Prev. Té% 208 28! 130'1 134% 166% 41 3% 58% 130 32% 24% 5 43 178 1023 104 11% 25 107, 1115 0% Th 3214 lOQ"q 106 51w 86% 106% 35% 541 10t T 2414 34 4913 20 18% 26 | 111% | 9% | | High. Low. FINANCIAL. 1038 Stock ana Dividend Rate. 59 Acme Steel (13)._.. 9% Adams Exp (a20c) .. 17% Adams Millis(a76¢) 2214 Address'graph 60c x 58 Air Reduction (11). 2 Alr-Way Elec Appl. 13% Alaska Jun (160c).. 2% Alleg Corp (d) .. ..o 12% Al pf ws30w(d)_ 12% Al P wSd0w(d) . 12 Alleg pf xw (d) ... 157 Allled Chem (6) . % 231% Allied Mills (b25¢) . 6% Allted Stores ~. 69 Allled Stores pf(5). 35% Allis-Chalmers (1). 19% Alpha Port Cmt(1)_ 75 Amerada Corp (2)_. 50 Am Ag Chm Del(3). 4214 Am Bank Note (1) _ 40 Am Brake Sh(1.60) 124 Am Brake Sh pf 5\6 115% Am Car: (14) . 162% Am Can pf (7) ... 30 Am Car & Foundry. 57% Am Car & Fdry pf.. 31 Am Chain 114% Am Chain Df(l!‘&)_ 21% Am Comel Alcohol .. 16% Am Crystal Suga; 313 Am Encaus Tiling. 6l3 Am & Forelgn Pwr. 29% Am & For Pw $7 pf_ 13 Am Hawatlan (1) __ 5% Am Hide & Leather. 36% Am Hide & L pf (3). 37 Am Home Pr (2.40). 17'% Am Ice pf (2) . 9% Am International .. 21 Am Mch & F (80c).. 27 Am Metal 35% Am News NY(1.80) + T'a Am Power & Light 26% Am P&Lt $5 pf(213) 43 Am P&Lt $6 pf (3) 18% Am Radiator 25% Am Rolling M(1.20) 18 Am Seating vte 25" Am Shipbuilding 2. 56% Am Smelt&Fef (2)_ 5712 Am Snuff (13) 20%3 Am Steel Foundry_. 26 Am Stores (2). 48'¢ Am Sugar (2). 1495 Am Tel & Teleg (’) 87 Am Tobacco (5)_ 8814 Am Tobacco B (6 9% Am Type Foundry 19% Am Water Work 92% Am Wat W 1st (6).. 7% Am Woolen _ _ 54% Am Woolen pf ($2). 3% Am Zinc & Lead 24 Am Zinc & Ld pr pf_ 28 Anaconda Cop(a50c 151 Anchor Cap (60c) _ 97 Anchor Cap pf 6% 37 Archer-Dan-Mid t1. 4% Armour (Illinols) ... 66!« Arm’r(I11)pr pf(6)_ 47'% Armstrong C (1%). 713 Arnold Constab 50e. 81 Artloom Corp .. 125 Asso Dry Goods 10312 Asso D G 1st pf(36) 98 Asso DG 2d pf 36 Assoclated Oila2se 59 Atch To&S Fe(b2) 90% Atch To&S Fe pf(5) 21% Atlantic Coast Line 11 Atl Gulf & W Ind 1315 Atl Gulf&W Ind pf. 263« Atlantic Ref (1) 111% Atlantic Ref pf (4). 26% Auburn Auto - 5% Austin Nichols ___ 4% Aviation Corp(Del) Baldwin Loco (@) Baldwin Lo asd (d) 157 Baltimore & Ohlo 21 Baltimore & Ob pf 417 Bang & Aroos(2%) 141 Barnsdali (t60c) 17 Bayuk Cigar (75¢) 18 Beatrice Cream (1) 107 Beatrice Cr pt (7)__ 85 Beech-Nut P (13)__ 13'{ Belding-Hem (1) .. 21% Bendix Aviation(1) 20 Beneficial Lo(t1%) 48 Best & Co (12). 45% Bethlehem Steel 164 Beth Steel 5% (1) - 110 Beth Steel 7% pf(7) 14% Blaw-Knox (a20c).- 167» Boeing Airplane __ 46's Bohn Alum & Br(3) 80 Bon Aml A (4) 2 oo 9 e 10 T S 10 0 109 0 80 et 10 63 1 53 53 10 41 O 1 100 B OB 1S 10 0 b 85 00 19 10 1 e m3 e - S e e - " © e HevadarZanai-ne~RB7-82a2 65% 11% 20% 25% 693, 48! 12712 127% 1274 + % 22! 22 163% 35% 68 481 224 23% 4% 4% 163% 35' 68 4815 L+d+ i+ +i4010%] THE EVENING STAR, WASHINGTON, TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE By Private Wire Direet to The Star. Sales— Add 00. High. ~ EFRFERF Fi 34 S % i+l P4+ 1+ Prev. 1930 Stock and o Dividend Rate. 10% Cuba RRpt .. 64 Cuban-Am Sugar... 63% Cuban-Am Sug pf.. 170s 35% Cudahy Pkg (23%).. 1 994 Curtis Pub pf (7).... 4 Curtiss Wright__ 10% Curtiss Wright A 4 Curts-W rts. July 3 60 Cushmans pf (33%). 43% Cutler-Ham (1) __ 7% Davega Stores t30c. 52 Deere & Co . 19% Detsel-Wem-G 150c 36% Delaware & Hudson 28% 147 Del Lack & West __ 9% 4% Den&R10GW pt (d). 153 128 Det Edison (1) 40% 33% Dlamond Mieh 11% 4% 18Y% Dist Corp Seac | 20% 204 Dixie Vor ( 61% 41'; Dome Mires 50% Douzlun Alr 29 r A (b13%). .. 10 289 208 26 52 RO 5 0T - ———tt % 13% Duplan Stik (1) __ 153 133 Dupéntde N 13.60.. 133% 129 Du Pont deb (6) .. _. 115% 111% Duquesne Lt 1st(5) 9% 6 Eastern Roll Mills_. 170% 156 Eastman Kod (15) 166 158 Eastman Kod pf (6) 37 28% Eaton Mfg (2). 5% Eitington-Schid .. 110% Elee Auto L pf (7). 10 Electric Boat . __ 5% Elec&Mus In(b2ée) 29'; Elec Pw & Lt $6 pf _ 32% Elec Pw & Lt $7 pf. 44 Elec Stor Bat (12 15 Elk Horn Coal (4 113 Elk Horn C pf (4) .. 21 Endicott-John «2) Endicott-Joh pt (5) Eng P S 3550 nf ww Eng Pub Sve $6 pf . 5% Equit Office Bal0c.. 16 Erie R R 1st pt 11% Erte RR 2d pt_ 31% Fajardo Sugar (").. 18% Federal Lt & Trac.. 3 Fed Screw Works _ 2013 Fed'd Dept Stra(1) x 33 247 Firestone T&R 1.20. 105% 10013 Firestone nf A () __ 40 First Nat Strs(2%) 4'x Follansvee Bros «d 34 Food Machine 24!\ Foster- Wheel dfl'. Fourth NI ww ’lfia 2715 Freeport-Tex: 118'; Freeport-Tex nl(G) 31! Fuller Co 2d pt 3% Gabriel Co (A). 11's Gamewell Co 8!3 Gen Am Investors 42% Gen Am Trans(1% 22 Gen Asphalt(b25c). 10% Gen Baking (60¢)... 5% Gen Cable 17 Gen Cabl 537 Gen Cig: 34's Gen Wlectrie (1) 33% Gen Foods (1.80) ... v GenGas & Bl (A) _ 14 Gen G&E 6%cv DfA. 59% Gen Mills (3) - 190‘: 11715 Gen Mills pt (6)_ 537s Gen Motors (12).__ 118 Gen Motors of (5) .. 5% Gen Outdoor Adv _. 18% Gen Outdoor Adv A 38 Gen Print Ink (2)_ 315 Gen Public Serv 22'2 Gen Ry Signal (1) 2 Gen Realty & Utll 26; Gen Real&U pf ww 33'« Gen Refrac (1) 'z Gen Sti Casting pf 15 Glllette Saf Raz(1) 81% Gillette S R pf (5) 6% Gimbel Bros 9312 69 Gimbel Bros pf(a2) 55'% 39% Glidden Co (2) 114%; 105% Glidden Co pr pf(7) T3 3% Gobel (Adolf) _ __ 10% 7 Goebel Brw C(120c) 15% Gold Dust (1.20). 13% Goodrich (B F) ___ 78 Goodrich (B F) pf_. 21% Goodyear TER ___. 87 Goodyear $7 pf (4). 814 Gotham Silk Hose H.) 534 613 18% 1214 63 344 14% 15% 33% 5814 185, 490 131 93 36 16% 632 Add 00. High. Low. 108 14% 14% 14% 4 10% 10 36 1 103% 103'5 1034 5% 15% 532 63 534 9% kil 22% 40% 1124 64 168 163% 32% T D. C. FRIDAY, Net Prev. 1936 Close.Chge. | High. Lov. %| 19% -%| 12 %| 361 21% Stock ana Dividend Bate. _ Add 00, n 11% Marshall eid & Co 93 36 13'% Maytag Co 45 Maytag Coxwpf3. 97% Mead Corp pf (33)_, 55% Melville Shoe (3%). 67 Mengel Co 40% Mesta Machlne (3)- 5% Miami Copper .. 17% Mid-Cont Pete a40o 4 21% Midl'd Stl Prod (1 1315 110 Mid Sti 1st pf (8) 75. 65 Minn-Honey R 113 109’u 106'; Minn-Hon R pf (6). 62 Mion Moline Pwr .. 16% Mission Corp . . 5'2 Mo Kans & Texa: 1415 Mo K Tex 3%s Mo Pacific ptid) 79 Monsanto Ch 35% Montg'y erdtsoc) % Mother Lode 28% Motor Products (2) 15% Motor Wheel (1)... 11% Mullins Mfg (B) 44 Murphy (GC) 1.20. 14 Murray Corp 43 Myers(FE)&Bro t2 16% Nash Motors (1)... 12'3 Nat Acme Co. 314 Nat Biscuit (1. 0).. 21%2 Nat Cash Reg(50c). % 21 Nat Dairy P (1.! !D) 1074 Nat Dairy P 10 Nat Dept Si 25% Nat Distil 27 Nat Lead (50c) - 9% Nat Pwr&Lt(60¢) 57% Natl Steel (1%) 197 Nat Supply Co 74'x Nat Supply Cof__. 10% Natomas (180¢) - Y Newport Industri 3213 N Y Atrbrake 27% NYCentrai RR __ 17% N Y Chicago & St L. 36': N YChr&StLof 33 N Y Dock . 10% N Y Dock pt 1 N Y Investors (d) 3 NYNH&H @) - 7% NY NH & Hpf «d).. 93 N Y Shipbuliding $3 N Y Steam pf (6)_ 6% North Am Aviation. 23 North Am Co (1) _. 52% North Am Co pf(3). 98 North Am Ed pf(6). 24' Northern Pacific 2 Norwalk Tire&Rub. 1215 Ohio Ol (50e) __ 24'% Oliver Farm Enulp. 174 Qmnibus Corp vie - 24' Otis Elevator (60c) Otis Elev pf (6 13 Ous Steel 28 Owens-11l Glass(5). Zls Owenc 111 G July 24. 14 Pac Am Fisn(azée). 313 Pacific Coast 91, Pacific Coast 1st 30% PacificG & E (14) 47% Pacific Lig (2.40) 14% Pacific Mills __ 118 Pacific Tel&Tel(6). 11%, Pac West O (b25e) 67 Packard Mot (a25¢) 4%’ 1% Panhandie Pro& R 732 132 Paraflinerts July 1 7% Paramount Pictures 59 Paramount 1st pf 8% Paramount 2d pf. 34 Park Utah 40% Parke Davis(al.35) 23 Parker Rust P(1%) 4% Parmelee Transp't_ 313, | s 7 Pathe Fiim Corp 50% { 10's Patino Mines. % 1'y Peerless Motor . 251 69 Penney (J C) (13) 3% Penn Coal & Coke _ 4'; Penn Dixie Cement 28'4 Penn Rallroad (al) 30 Peoples Drug(tl). . 38 Peoples Gas Chi___ 25's Pere Marquette 56 Pere Marquette pf_ 6415 Pere Marg pr pf 12% Pet C'p of Am a2ic- 14 Pfeiffer Brew(1.20) 25% Phelps Dodge a50c_ 811 Phila Co pt (6) new 8!s Phila Rap Tr pf(d) 1% Phila & Read C&1 . 66 Phillip Morris (1) 38!'a Philllps Petrol(t1). 1'3 Plerce Petroleum... 307 Pilsbury Fl (1 508 5% 308 15% 532 65 I I R I | (SR FEE SEE TR 5 19 130 5 16 1% 6 30 7 15% 16% 48 JUNE 19, 1936. Stock ana Dividend Rate. 76% 59% Sears Roebuck (2). 22% 15% Servel Inc (60¢)-. mm‘. 16“ 15% — % 8 8 +% 29% 20% — % 15% lilh. u' 48 106 71 17 T% 4% SoAm G 34% 26 So Porto K Sug (2). 29% 25 SouthCal Ed (1%). 387 2314 Southern Pacific .. 20% 12% Southern Ratlway.. 19 Southern Ry pf. T7% Spalding (AG) ... 634 Spalding(AG)1st pi 5% Sparks- Withington 327 11% 3 9% 12% 6% Spear & 23% 15% Sperry C FFEEFFIOEF - 18 9% 17% [ I o L I R T FEF *¥ 47% 35% Stand O 30 70 71% 65 Sterling 12% 8y Sterling 243 165 Stewart 21% 14% Stone & 14% 91 4013 27 6% 25 11% 10% T Tex Pac 14% 9% Tex Pac 44 33% Thatche 9% 12% 813 173 T2% 14% | 12 107'% 7 56 Timken 11 41 99 79% Und-Ell- % Und-Ell 52% 381, 904 28% 315- 32% 15 (IR A 2 US Disu 10 U S Disti 13 87% U 8 Hofr 11% U S Leat [ 47 U S Rub! 159% 153 | 1% 3% 1% 16% Sharp 16% 11% Shattuck F G (5 l). 19% 14% Shell Union Ofl..... 14% 9% Silver King (40¢)... 32% 19% Simmons Co.caeuee 6% 4% Simms Petrol.. 31% 19% Skelly Ofl. - cccaee. 28 22% Snider Packing..... 12 Socony-V Ofl (40¢). 24'; 13% Spicer Mfg 53% 44 Spicer Mfg pf (3).- 100- 77% 63 Splegel-May-8 (3)_ 81% 21% Square D (B) (50c) 14% Stand Brands(80c) - 10 Stand Com Tobacco. 5% Stand Gas & El (d). 915 Stand G&E $4 pf (d) 36% 24% Stand G&E $6 pt(d) 397 26% Stand G&E $7 pf(d) 40% 323% Stand O1l of Ind(f1) 25 Stand Oll of Kans __ 51% Stand Ofl of NJ (1 5312 48 Sterl Sec 1st pf (36) 9% Studebaker Corp. 72 SunOll (11) Superheater (50c) 3 Supertor O} 14% 9% Superior Steel .. 20' Swift & Co (1) 5% Symington A (d) 9% 6% Tlllulfl‘l’lbhflfle). 3% Third Avenu 8'4, Thomp'n(JR) (50¢) 32'; 24% Thompson Palle . 47 Thomyson Starrett. 19% 14% Tide Wat Asso 60c_. 106'5 100% Tide Wat A O pf(6). 1213 Timken-Detroit . Transamerica a3l T4 Tri-Contl Corp 93 Tri-Contl C pf (6, 47 Truax-Tra Coa 31% 20th Cen Fox pf lh # g | 133 125'3 Und-Ell-. Union Bag&Pap (2) 71% Un Carb&Carb 2.40 207% Union Ot of Cal (1) lJBh 108'; Union Pacifie (6) .. 1 90's Unfon Pacific pf “ 22% Un Tank Car (1.20). 1 20% United Afrcaft ___ 13 United Air Lines vte 24 United Bisc (1.60) . 68 United Carbon 2.40. 5% United Corp 40% United Corp pf(3 10% United Drug . ... United Dywood (al) 32% Unit Eng & F 11% _ 6613 United Fruit (3) 14% United Gas lmp (1) 84'3 U S Smelt&Ref (2é) % 5 United Stores (A) 1% 57% Univ Leaf Tob (2 Univ Leat T pt ¢ Univ Plpe&Rad (4) Ut Pwr & Lt (A).. FINANC! AM 00 High. Low. % 13% Close. Chu 3% — 23 + &Plalie . PEPPE FEFFEFPEEFIEE 11 Co - vte b2se. . Friv 2 '11 5 6 45 2 7 1 1 FrSE of Cal (11). 10 Prod (3.80) Secur pt - Warn(50¢) Webster. SRS BRER L 2R AL. STOCKS IRREGULAR AT END OF SESSION Selective Buying Helps Some, but Others Go Down Fractions to $2. Stock Averages 15 80 Utl Stks 635 63.9 60.2 44.7 648 85.7 30 18 dus. Net chanze.h— 4 “:"5 Today. close 85.0 36.0 Prev. day... 85.4 363 Month ago. 808 334 Year ago... 609 24.7 1936 high... 858 39.7 1936 low. 134 302 1935 high... 763 312 56.1 1935 1oW.... 495 185 6 348 1932 loW.... 175 8.7 169 1929 high...146.9 153.9 IM 31577 - 516 953 618 618 7 the Associated Press.) BY VICTOR EUBANK, Associated Press Financial Writer. NEW YORK, June 19.—Selective buying helped support a few issues in today's stock market, but profit takers slapped down a number of lead- ers fractions to 2 or more points, There was little change in the gen- eral news picture, and observers at- tributed the unsettlement largely to technical factors involved in the recent steady advance. The close was irregu- lar. Transfers _Wwere around 800,000 - e - rwmnelifan mSran=Slanenlel Coal & O11. Land Trust 1) IEESERIER L, 1515 10415 16% 61% 14 L3l 1041 6 R B (12) 2 R 231 508 19 46 18 34% Fish (3) R0 July 6 Fish pt (7) 3 42 14 ributing ributing pf U S & For'n Secur man 33! U S Ind Alcohol (1) hercA)vic 21'; USPipe & F (1%). 7% U S Reaity & lmp.. 27 : 7 1 16% U 8 Rubber. { 4 L | -2 ~15 | —-1% | =il =% ber +2 ~ x\ shares. The motors gave little heed to the | slight increase in automobile produc- tion. Cram’s said this week’s output had advanced 318 units to 100,733, compared with 90,561 a year ago. The stocks of Chrysler improved while General Motors was backward. Philip Morris and Zenith Radio got up a point or so each on hopes of rx- rending earnings and more liberal dividends for the tobacco issue. Sev- eral of the oils, including Standard of New Jersey and Pure Oil, were in de- mand as gasoline price cutting seemed to be subsiding. American Telephone was heavy | throughout on threats of a reduction in rates of its New York subsidiar: Among other losers #ere United States Steel, Bethlehem. Western Union, Radio, Westinghouse, Johns - Man - ville. Greyhound Corp.. United States Smelting, Parker Rust Proof. Radio, | North American, Santa Fe, New York | Central. Woolworth, Montgomery Ward and Du Pont. | Wilson & Co. common was actively lower on fears that the dividend may be omitted at the next directors’ meet- ing. United States Pipe & Foundry Youngstown Sheet & Tube and Re- | public Steel were exceptions in the steel group, holding small gains. OFFER COMMON SHARES OF STANDARD PRODUCTS Special Dispatcn to The Sta NEW YORK, June 19.—F. Eberstadt & Co., Inc., of New York and Prescott, Biggar & Co. of Cleveland are offering today 101,000 shares of common stock of the Standard Products Co., of which 80,000 shares are to be sold at $10.50 per share and the balance subsequently | at the market. The offering does not represent new financing by the company, but in- row, Blackstone; H. H. Cool Hill; E. S. Shields, Farmville; W. A. Jones, Appalachie and R. O. Norris, 39% Bon Ami (B) (2%) < Borden Co (1 60) 4 Borg-Warner (3 A Boston & Maine 35'2 Pitts Coal pf_ _____. 7'z Pitts Screw & Bolt_ 1% Pitts Term (new).. 3 Pitts United Corp 77 Gotha Silk H pf(7) 2% Granam-Faice 1% Granby C (24 stpd) i 1| cludes only outstanding shares to be 1, | purchased from certain shareholders 1 who will receive the net proceeds of 283, 4 Va.Car Chem 6% pf o + jr., Lively. Lewis F. Gordon, Atlanta banker, speaking today on “Public Relations,” stressed the value of newspaper ad- | vertising to banks, stating that if he | had to choose a single medium for bank advertising he would chose the local newspapers. “Banking is no longer in the hands of class opinion, but rather mass opinion. Mass opinion is a terrific force which must be shaped and di- rected into sane, reasoning and con- structive channels,” he said. “Banks and bank men have suf- fered terrifically from unfair mass opinion. The sins of a few have been publicized and ballyhooed until an uninformed public has come to be- lieve that all banks and bankers are tarred with the same brush.” Wholesale Trade Mounts. ‘The Federal Reserve Bank of Rich- mond reported today that dry goods led sales increases in five leading wholesale lines in this territory in May, compared, with May, 1935, with & jump of 23 per cent. All five lines also showed improve- ment for the first five months of 1936, 8s compared with the same cumu- lative period of 1935. The gains for May over the cor- responding month a year ago were: Groceries, 2.1 per cent; dry goods, 23.1; shoes, 14.6; hardware, 7.4, and drugs, 2. Gains for the cumulative period were: Groceries, 5 per cent; dry goods. 10; shoes, 2.2; hardware, 6.3, and drugs, 4.3. May sales as compared with April, 1936, sales were: Groceries, minus 2.6; dry goods, plus 0.9; shoes, minus 14.6; hardware, plus 0.4, and drugs plus 0.2. Another Bank Votes Dividend. Directors of the American Security & Trust Co., at the regular. monthly meeting, declared a quarterly dividend of 2 per cent on the capital stock of the company. It is payable July 10 to stockholders of record at the close of business June 30, it was an- nounced today. Bank clearings in Washington for the week ending June 17 reached the sum of $26,186,548.81, which was an increase of 29 per cent over the cor- responding week a year ago. It is a little too soon to tell what the vet- erans’ bonus will mean to clearings, but some increase is practically cer- tain. It is reported in the banks today that the veterans are not preparing to cash their bonds nearly as rapidly as had been expected in some quar- ters. While a great many bonds are being cashed, the veterans appear to have developed a thrift complex in the past 16 or 17 years and are now anxious to save as many o. their bonus bonds as possible. One banker guessed only about half of them are being cashed. That means $7,000,000 instead of $14,000,000 being out into circulation at this time. Today's Trading on Exchange. Washington Gas 5s, 1958, opened trading on the Washington Stock Exchange today with $1,000 sale at 106%. There was also $1,000 transfer in Chesapeake & Potomac Telephone of Virginia 5s at 1043;. In the stock division a small sale of American Se- curity & Trust Co. stock took place at 258 and 100-share block of Cap- ital Transit moved at 1%. Lincoln National, Bank of Bethesda and Bank of Commerce & Savings stocks are now being quoted ex- dividend on the Exchange board. 14\ 2014 121 15% 3% 20'% 106% 51% 38 108% Tih 20% 6% 15% 154 26% 2% 1'; Botany Min A (d) . 13!, Bridgep't Brass 40c 43% Brizgs Mfg (12) _ 43 Brigge & Strat (3)_ 40% BKlvn-Man Tr (3)_ 3': Bklyn & Q pf (33).. Bklyn Un Gas (3)_— 13'y Bucyrus 100 Bucyrus 214 Budd Mt 1pd.July16 8% Budd Wheel i1'; Bulova Watch . 25 Burr Ad Mch(160¢) 215 Bush Terminal (d) 141x Bush Term B pf cod 2% Butte Copper&Zine. 15% Byers (A M) 22 Byron Jackson (1)_ 30% California PEg(1%) % Callahan Zinc £ 6 Calumet&Hec a25e. 30 Campbell Wy (t1).. 10% Canada Dry G A __. 107 Canadian Pacific ... 45% Cap Adm pf A (3)__ 6% Carriers & Gen 20c. 9215 Case (J 1) Co 54% Caterpillar Trac(2) 21% Celanese Corp a50c. 19 Celotex Corp 25% Cent Aguire (11} 47% Cerro de Pasco (4) 59 Chesapeake Corp(3) 51 Ches & Ohto (2.80) 2% Chi & East 11 pt(d) 1% Chi Grt West (d) .. 4 ChiGrt Wpf (d) 25% Chi Mail Order t134. 1'5 Chi Mil StP&P (d) 27 Ch1 M StP&P pf (d) 215 Chi & N W (4) 1215 Chi Pneumatic Tool 40% Chi Pneu Tool pf . 11 Chi R | & Pac (d) _ 313 Chi R 1&P 1% pf(d) 19% Chi Yellow Cab (2). 20 Chickasha C O (2) 7 Childs Co 8515 Chrysler Corp (6) - 15% City Ice & Fuel (2) 727 City lce&F ot (6%) 4% City Stores 23y cnrk Equip (80c) .. Graph Br (11)_ 8 Cl tt Peabody (1). 84 Coca-Cola (2) 2 13% Colgate-P-P (50c) 102% Colgate P-P pf (6)_. 391 Collins & Alk (a2) - 8% Colonial Beacon 24 ColoF &1 pf (d) 211 Colo & South 16 Colo & South 2d pf_. 14 Columb G&E(a20c) Oo'a CoiG & Epf A (6) Colum Carb vtett4) Comcl Credit (3) . Comcl Cred ot 15%) 55 Comcl Inv Tr $3.60 97 Comel InT pf(4%) 15% Comel Solv (60c) 21 Comw & Southern 59% Comw & Sou of (3). 7% Conde Nast Pub ___ 32% Congoleum- N 1.60 . 10 ComnR&L . = 8 Consol Cigar 72% Con C pr of ww 6% 2 Cons Coal (Del) vtc 12% Con C'1 (Del) vtc pt 2714 Consol Edis N (1) 102 Consol EA NY pf(5) 4% Consol Film 1sv. Consol Film pf (31 8% Consol Laundries.. 11% Consol Of] (a26c) . % Consol Textile (d).. 15% Container Corp. ... 10% Contl Baking (A).. 1% Contl Baking (B)... 67 ContlCan (3) ___ 18 Cont’l Diam Fib(2). 35% Contl Insur (11.20). 214 Contl Motors 2814 Conti Ot of Delt1) 29 Contl Steel Corp(2) 55% Corn Ex Bk&'1r (3) 6813 Corn Prod Ret (3). 414 Coty Ine = 35 Cream of Wh (2) 15% Crosley Rad(a50c) 43% Crown C & 8 (1) 45% Crown C&S pf(2.70) 7% Crown Zelleb'k vte. 1% Cuba Co.. ll 110 - 2% - 8 o wes S ) M B NARDRE DDA @ WANR D AR 00— e e N O Y IR R TS P - =) s o 1y o3 2 —o—u—au—N° wa ESw = 36% 54 100% 13% 103% 45% 20% 26 32 24% 19' 10514 123 61 111% 6814 107% 15% 3% 693 8 100% 13% 103% +il i+l +1+14+0 P+ 41 Ul - 3 PEEFFFEE EEEF +1L0 © FEEF FEFRFEFE ¥ > 3ta Grand Union ctfs : g 3 16 Grand Un pf $62%.c 281, Grant (W T) (1.40) 321 Grt Northernpf __. 16 Grt North'n Ure(1) 31 Grt West Sug (2.40) 22 GreentHL)Co (t1) 48% Greyhound C'p 3.20 1% Guantanamo Sugar 26'; Guantanamo Sug pf 91 Gulf Mobile & N 30 Hackensack W(1%) 6 Hall W F Printing . 14 Hamilton Watch __ 1053 101% Hanna (M A)pf(5). 41% 304 Harbison Walk(t1) 35% 25! Hercules Motor (1) 128 Hercules Pdr pf(7). Holland Furnace __ Holland & Son (50¢) Holly Sugar (1).__. Houd-Hersh A(2%) Houd-Hers (B)13% House Fin (A) (13) Houston L1 vic Howe Sound (13) Hudson Motor Car. Hupp Motors 11linots Central . Illinois Cent pf (A). 111 Cent ise lines(4) indus Rayon (1.68) x inland Steel (3) __. Inspiration Copper. Interboro R T (d) .. Interiake lron. ... Int Agricultural ... Int Cement (1%) - Int Harvester 1.20_. Int Hydro Elec (A). Int Merch Marine - Int Nickel(Can)1.20 Int Paper & Pw(A). Int Paper & Pw(B). Int Paper & Pw(C). int Paper & Pw pf_. Int Print Ink pf(6). Int Ry C A ot Int Tel & Tel . Interstate Dept Str. int Dept Strs pf(7). Island Creek (2). Jewel Tea (14) ____. Jonns-Manvilie(2) 75'% Jones&Lauzh7%Dr. 13 Kans City Southerrn 19% Kans City South pf. 17 Kaufman Dep S (1) 27 Kayser(J)& Coa7bo 20 Kelsey-Hayes (A)_. 18 Kelsey-Hayes (B)_. 14% Kelvinator (150¢) . 281 Kennecott C (1.20)_. 17% Keystone Stl1 & W. 30 Kinney (G R) pf... 20'3 Kresge (S 8) (1) 22% Kroger G&B (1.60). 32 Laclede GasSt L pt 19% Lampoert Co (2) - 12'% Lee Rub&Tire (50c) 15' Leh Por Cmt(a2ic) 94 Lehigh Por C pfi4). 2!x Lehigh Valley Coal 9% Lehigh Val Coa! pf_ 815 Lehigh Valley R R 89 Lehman Corp ¢3) 12 I-ehn & Fink (1%).. 371 Lerner Stores (2) _. 47% Libbey-Owens G(2) 7 Libby McNeill & L_ 97% Ligg&Myers Bit4)_ 37 Link Belt (1.20) 32% Liquid Carb (1. l‘n— 54% 43 Loew’s Inc (12) 108% 104% Loew's Inc Df(l\fi). 2 Loftinc . 3% Long Bell Lum (A). 40% Loose-Wiles (2). . 21% Lorillard (P)(1.20) 13 LaOfl Ref pf (d).. 20 Louisv GREDTA 1% 57% Louls & Nash (a2)_ 22% Ludlum Steel (1) .. 85 MacAnd & For (2).. 29 McCall Corp (2 12% McCrory Stores .. 93 McCrory Stores pf_. 39% Mcintyre Porcu(2) 113\6 10314 McKeesp't T P (14) 11% 8% McKesson & Rob .. 46 37T% McKesson&R pf(3) 11% McLellan Stores .. 27t Mack Truck (1) 40% Macy (R H) Co (3). 34% Magma Copper (2). 8 Mandel Bros 14% Man EiI md gtd (d)- 8% Marine Midid (40c). 30% 18% Market St Ry prpf. 304 9 19% 397 22 54% 6% 488 131 18% 30 58 25% 90 6's 11's 9a 3 351 563 2% 4Y 43% 3% 24 1% 201 107 19% 124 10% 82 2612 581y 88 4 3k 36 111 3TH% 194 - - 00 1 1010 4= 1110 O 1S 1 €1 1t b 19 1 88 - - R e o= Sire 2100 S100 P 58'4 Pitts United pf 21 Pitts& W Va 7% Plymouth Oil(a25c) 12 Poor & Co (B) 414 Porto R Am Tob(A) Postal Tel&C pf(d). Pressed Sti Car (d) Pressed Sti C pftd) Proctor&Gam(1%4). Pub Sve Pub Sve N J ot (6)_ Pub Sve N J pf () 146 PubSve NJ pt (8). 48% 367 Pullman Inc (132)- 247 16% Pure Oti 3 133% 103 Pure Ol pf (8) __ 17% 9% Purity Bakeries 40¢ 14% 9% Radio Corp 79% 68! Radiocu lstpf3ig. 9% 5 Radlo-Keith-Or(d) 11 RRSecll 2874 Raybestos-M (1%) 19 Remington-R (68¢) 474 Iteo Motor Car 1674 Republic Steel .. 75 Republic Steel pf 78% Repub StIpf A (6). 24% Revere Copper (A). 90 RevereC&Bpf __. 1 221; Reynoids Met (1) 27 Reynolds Spring (1) 50 Revnelds Tob B (3) 74% Ruberoid Co (1) _5% Rutland R R pf_. 35l 30 Safeway Stores (2) 112 109 Safeway Strs pf(6). 114'; 111 Safeway Strs pf(7) 29% 22% St Joseph Led(80c). 3% 1% St L-San Fran (d) .. 6% 2% St L-San Frof (d). 12% 7% St L Southw'n (d) 38% Schenley Dist : 97! Schenl 13 Schul 7% Scnuite R Stre pf_ 5315 Scott Paper (1.80).. 7 Seaboard AIr L (d). 2 Seaboard A L pf(d) 30% Seab'd Oil(Del) (1) 554% 58% 1175 10%: 1 10s 1 9 31 244 B1% Wabash & Waldorf Syst (80c). Df A (d) % W Waigreen Co ((2) Walker (H) (2)_ “ alworth Ce Bros Plc.__ Warner-Quin (d) West Pa West Pa West Pa 116 111% West Pa 124 8w 4 2 9% 54 95 T2l 484 343, 1227% 941y 1231y 225 20% 234 85, 18% 144 w Wheelin, White M. 00t 25 5213 56 i 445 56 6% & }g"‘ 41% Youngst 21 cash payment based o rations. s Unit of trading including extras b Paid iast vear reorganized Warren Bros _ kesha M(160¢c). n O&S(150c). Western Maryland. Western Pacifie__. Western Pacific pf_ Union (82) .. gh" L3 ton ElI | (a25c) Westvaco Chlo t40¢ Wheeling Sti pf 32_ White Rk M S(1.40)x 1 Tl Wilson & Co 150¢) . Wilson & Co pt (6) Woolworth (2.40) _ Worth Pump pf(A) Worth Pump pf(B). 1 62% Wright Aero 8% Yellow Truck 11tk Zenith Radio - 57x Zonite Products Total Sales tnr t.h. dny Dividend rates as given in the above table are the snnual Fhccomulated Gtvidenas g Compani 01 AT S, ComPanies reported in receivershiv or being - - % n Elec (1)A- 10s Elec pf(6) 130s Elec pf(7) 608 Pwr pf(6). 10s 2 ¥ 2 21 seAB(1). 11 b'se £l (3). 30 1stpf3l 20s 1 3 1 ° 30 o W & e % | l‘¢ 425 s Steel . = otor e 174 — ag 08 - % -1 -1% -5% - % - % + % 108 n Shy 830 000 D the latest quarterly or haif-vearly decla- less 0 shares. tAnnual rate—not Paid this year. % l |Gold Currencies Steady to Higher In Terms of Dollar Py the Associated Press. S IO T U 3 European gold bloc currencies were steady to higher against the dollar today following a statement by the French finance minister that the franc would not be devalued. The franc advanced .00's of a cent | in New York at 6.58!> cents, Swiss francs gained .06 of a cent at 32.41 cents and the guilder moved up .01 of a cent at 67.61 cents. The pound sterling declined !, cent at $3.021. In London the dollar was unchanged at 5.03 to the pound, the same as the overnight New York rate, while in Paris the dollar closed at 15.19 francs (equivalent to 6.583 cents to the franc), against the New York overnight rate of 6.584 cents. 124t 1 - - FEFEFE +1+ = 1+ +1 FEFF Ex +101 PARIS, June 19 (#).—Three per cent rentes, 66 francs 75 centimes; 41, per cent rentes, 68.25. Exchange on London, 76.40. dollar was quoted at 15.19. The 36% +1% 30% — % 12% — 4 92 425 — 107% - 8% — 4315 — 12% - BROKERS’ LOANS DROP 30 MILLIONS IN WEEK 8y the Assoctated Press. Loans on securities to brokers and dealers, held by weekly reporting smember banks in New York City, « | were reported by the Federal Reserve 15| Board to have totaled $1,084,000,000 for the week ended yesterday, a de- trease of $30,000,000 for the week. Loans for the corresponding week & uunu year ago totaled $858,000,000. 4 8 11%4 % LARGE GAINS SHOWN | BY JOHN IRVING SHOE Sreclal Dispatch to The Star NEW YORK, June 19.—John Irving | Shoe Corp. reports gross sales of| $877,051.74 for the first quarter ended April 30, 1936, and net profit, after al | charges, including Federal taxes, of $45,826.53, equal to $1.90 per share on the $25 par value 6 per cent preferred stock outstanding and 37 cents per share on the 122,500 shares of com- mon stock outstanding. For the same period last year gross | sales were $770,865, and net profit| $4,542. | The company reports that gross sales are currently running ahead of last year by 26.4 per cent. AVERAGE OF 103 STOCKS ADVANCES 1.54 POINTS Erecal Dispatch to The Star NEW YORK, June 19.—The average price of 103 stocks, representing 12 industrial groups, gained 1.54 points during May and at 32.12 stood 1.79 points above the level at the close of 1935, according to the Index of Se- curity Prices, published by the New York Trust Co. Gains were recorded in every group | of stocks except nine oils. Twenty- five railroad issues were up 2.50 points, 10 iron and steel issues 1.60 points, 5 railroad equipment stocks 2.79 points, 10 public utility stocks 3.65 points, 5 shipping issues 3.25 points, | 9 motors 0.79 points and 5 tobacco issues 1.63 points. Average price of 51 domestic bonds rose 0.35 point during May and at the end of the mouth was 1.50 points I:..v‘ the average for December 31, | Operations UNITS COMBINED BY CITIES SERVICE ; Merged Under Plan to Simplify Structure. By te Assoctated Press. NEW YORK, June 19.—In further- ance of the policy of simplifying its| corporate structure, Cities Service Co. has announced the consolidation of -15.1 of Six Companies |y, the sale. The Standard Products Co. is & con- solidation of a predecessor company of the same name and the Reid Products | Co., which became effective May 1, 11936. It is one of the leading manu- facturers of window channel for use in automobilés. 1 GROCERY STORE SALES 2 PER CENT UNDER 1935 % | By tne Asscclated Press. | A decline of 2 per cent in the dollar | volume of grocery store sales last | month compared with May, 1935, is | shown in preliminary estimates of the Bureau of Foreign and Domestic Com- | merce. A drop of 3.5 per cent from April exceeded the usual seasonal dip for that period in the last seven years, the bureau said. Lower food prices were believed to have been an in- | fluence. Washington Exchange SALES—AFTER CALL. Washington Gas 5s 1958—$1,000 10614, American Security & Trust Co—2 at 258. 1C. & P. Tel 104%. Capital Transit Co.—100 at 14. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amfl"er&& “Tel Am Tel. Col. Tr Anacostia & Potomac at of Va. 56—8$1.000 at Georgetown Gas 1st bs. Pot. Elec. Pow. Cons. Potomac Elec. 6s Wash. Gas 55 1958 [Wash: B e Do MISCELLANEOUS Chevy Chase Club 5las - 106 Col. Country Club 512t 105 W. M. Cold Storage 5s. 100 STOCKS. PUBLIC UTILITY. __*18R% =6 S!nmbou (6) pid. (§)- 108 Po| JElec. Pow. six of its oil marketing export and W transportation units. Under a joint plan and agreement of merger filed with the Department of State in Harrisburg, Pa., the Crew Levick Co. has been consolidated with Cities Service Export Oil Co., Petro- leum Import & Export Corp., Cities| & L e Wash: Ry, & EL pfa. 13" H\NK A'\D TRUST COMPANY. & Tr. Co. (10)__ BN of HethesdaCi.50) Service Tank Line Co,, Cities Service | Ris: Transportation Co. and the R. A.|w Newcombe Ofl Co. Operations of the affected com- panies will be carried on under the new name of Cities Service Oil Co. In addition to its extensive opera- tions in the producing, refining and marketing branches of the petroleum industry, the Cities Service Co. con- trols operating public utility com- panies in 22 States and in Canada. BEET SUGAR TOTAL DOWN. NEW YORK, June 19 (#).—The| United States Beet Sugar Association | reported today May deliveries of beet sugar in the country totaled 1,595,009 | tons, compared with 2,452,131 in May, | 1935. For the five months ended May deliveries totaled 9,934,598 tons, National Union (.80) TITLE INSURAN Columbia (30) __ e _a Real Estate (6) 128 MISCELLANEOUS. Carpel Corp (1.60)________ 23% Lanston Monotype (#) ~ "~ &1 Mergenthaler Linotype (1)~ 4414 Peoples Drug §. com. (1.00) *40 Peonles Drus St ptd. (6.50 Bemirity Btorae by T" d { & Wawd: & Tath *Ex-dividend. 1Plus extras 48 per cent extra €50¢ naid May 15 1936. a—4 Der cent extr pld. (7)- Scranton-Spring Brook Water Ser- vice Co.—Preferred share earnings, against 12,324,52¢ in the like 1935 period. 12 months ended March 31, $10.78 against $1132. - 1