Evening Star Newspaper, June 29, 1936, Page 16

A—16 wes FINANCIAL, (E_ 29, 1936. FINANCIAL., EARNINGS REFLECT USINESS UPTURN Utility Reports Reveal Prog- ress Here During Past Five Months. By EDWARD C. STONE Marked improvement in business conditions in Washington in the first five months of 1936 is revealed in the earnings of the public utility cor- | porations, as compared with the first five months of 1935. 4« Am Car & Fdry pf.. The Potomac Electric Power Co. has Am Chain e just reported to the Public Utilities | 37% Am Chicle (4) - Commission net earnings in the five & (’Ero‘r'n.-_;-‘;xé‘:.oxr‘-orl. months amounting to $1,863,644.07, which compares with a net income of | ?\'r: ?,';‘v::js‘;fi:‘:) $1,698,047.89, an increase of 9.75 per | g o : ! 2 Am & Foreign Pwr_ cent. Net in May alone was up 12.16 Am & For Pw 37 pf_ per cent. Am & For Pw 2d pf. Am Hawatian (1) _ ‘The Chesapeake & Potomac Tclo-; A EVas & Leather phone Co. reported to the com- Am Hide & L pt (3) mijssion that net earnings in the five Am Home Pr (2.40). months in 1936 reached the sum of | Am 1 $915,956, against $819.223 in the like | Am Ice pf (2) period in 1935. an increase of $86,733. Am International. Am Locomotive __. The telephone company had an Am Mch & F (830¢) operating income of $4 440,338, against Am Mch & Met a25c $4,175,355 in the corresponding five Am Metal nl, Elec Stor Bat (12) months in 1935. Operating expenses, s A\:: ?»:-.(;‘.7‘.;? ; k 1127 ndlicnu-Jr;h Ef(u) however, were slightly higher than a -~ Al %2 Engineers Pub Sve year ago so that all the gain was not ot e et 4513 Eng Pub Sve reflected in the final profits. The good showing was partly due to a net | gain in telephones of 4,630 and a total THE EVENING STAR, WASHINGTON, D. C., NDAY, JUN TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE Prev. 1930 Stock ana Net Prl', 1936 Net High. Low. Dividend Rate. l“ 00. nm:. Low. Close.Chge. h. Lov. Dlvlden" Ellt Adfl 00. High. Low. Close.Chge. 55 49 Maytag pf ww (3) 1 9% 494 + X% 4% Simms Petrol.. 10 4% 4% 47 £ 12% Mead Corp 14% + % 19% Skelly Ofl - - - e 3 24% 24% 2 55% Melville Shoe (4) T8% + W 22 Snider Packing..... 23% % 67« Mengel Co 8 —-% 12% Socony-V Oll (40¢). 4 13 3 n STOCKS IRREGULAR Alleg Corp (d) . __o 3% 3 3 10% 7% Crown Zelleb’k vte. % 8% — W '.'3 17% Mid-Cont Pete a40c - 21% + % 25 South Cal Ed (1%). 9 28% 284 a | Alleg pf w$30w(d)_ 24% )..x;: z;:. 41 28 Crucible Stee Y 37 +1 = 475 21% MIAI'a St Prod (1. 35 —;" fz‘& g:ux'm ;:"l'fl"— f” ‘;5‘- «'1*:;: % 4Late Heaviness of Steels 30% 29% 2 2% 1 ba Cy Pt 2l s 1 10 120 =2 e uthern lway.. 6 17 K3 4 Alleg Steel (1) 4 " 4 Cuba Co 1 1% 4 Yl Mi1d Sti 1st pf (8) 0 “ b Checks Ra"y Started by Chrysler Rise. Prev. 1936 Ret | High. Low. Btock ana Dividend Rate. Add 00, High. Low. Close. cnn High. Low Dividend Rate. Add 00. High. Low. Close.Chge. | 82l% 68l5 Corn Prod Ref (3).. 32 81% 79 179 -2 118 1113 Abr & Straus pf(7). 110s 112 111% 111% 7% 4% Coty Inc. 9 4% 4% - %l 19 13% 9% Adams Exp (a20c).x 13 11% 11% 11% 37% 35 Cream of Wh 36% 36% + | T8% 70 58 Alr Reduction (*1) x 6 69 68% 68% 28% 15% Crosley Rad(as0c). 27 4+ 8| 10% Alr Way Elec Appl. 34 4% 4% 4% 63% 43% CrownC & S (1) 59% — 13| 5l% Alaska Jun (160¢c).. 144 14 14 47% 45% Crown C&S pf(2.70) o A5 451, 12% 8y Private Wire Direct to The Star. Prev. 1936 Stock ana Sales— 17% Alled Chem (6 20312 202% 181 10% Cuba R R Pf_ oo men 11% 65 Minn-Honey R 1% 72 2% 19 Southern Ry pf.. 72304 29 29 “ 4 Allied Mills (b25e)- 24% 24% 64 Cuban-Am Sugar... 10% 12% 6 Minn Moline Pwr__ 9 714 Spalding (A G). 1 T < Allied Stores : 108 108 35% Cudahy Pkg (2%).. 1 36% — %| 76% 57% Minn Moline Pwr pt 4= % 631 Spalding(AG)1st vt 805 65 Allled Stores pf(5)_ 9% 167 Curtis Publishing__ 7 17% + % 16% Misston Corp " 5% Sparks- Withingten. 7 Allis-Chalmers (1). 4T 9914 Curtis Pub pf (7)__. 104 6% Spear & Co 3 e Amal Leatner 3 4" Curtiss Wright [ 15% Sperry Cvieb2se_—. 41 20 Stock Averages Amerada Corp (2 10% Curtiss Wright A_. 14% 13% Spicer Mfg . .. 22% Am Ag Chm Del(3). 14 Curts-W rts._July 3 2 532+132 44 Spicer Mfg ot (3) 50 { 30 15 16 60 Am Bank Note (1) . 43% Cutler-Ham (11)__ 63 Splegel-May-8 (3)_ 0% i Indus. Rails. Util Stks Am Brake Sh pf 5% 52 Deers & Co 21% Square D (B) (50¢c) Net change_ +.4 +.1 -+.1 =3 14% Stand Brands(¥0c)_ Today, noon 86.6 359 483 643 4 10 Stand Com Topacco. Prev. day -. 862 358 482 640 7 5'% Stand Gas & EY (d).. " b s Month ago.. 828 351 472 620 h 9'; Stand G&E $4 pf ( i = 24% Stand G&E $6 pf(d Year ago .. 60.3 241 325 443 26% Stand G&E $7 pf(d) 1936 874 397 508 648 % Stand O of Cal (11). 1936 302 434 557 Stand Ofl of Ind(11) 1935 312 447 561 1935 185 21.6 3438 25 Stand Oil of Kan 1932 4 8.7 239 169 1 §!!6 Stand Oilof N J 11 9 3% 35 N e B 1929 1469 1539 184.3 151.7 1921 51.6 953 618 613 2% Sterling Secur (A)_ 8 (Complled by the Associated Press.) % [ & OFEF 983 51y 41% 13815 133 133 131% B5% ¥35% 37 Mo Pacific pf(d) .. "0', Mohawk Carp (1 Monsanto ‘heml'l) 2 35-‘ Montg'y Ward(80c) 27 60's Morris&Essext3%).* 508 % Mother Lode 28% Motor Products (3) 15's Motor Wheel (1)__. 70 Mullins Mfg pfal% 40s 14 MurrayCorp.. .. 23 16% Nash Motors (1)_.. 10 20's Nashv Chat&St L. 30s Nat Acme Co 1 Sronn~Baanana @ foy-0 27 Deere & Co pf $1.40_ 19% Delsel-Wem-G t50c. 36% Delaware & Hudson 14% Del Lack & West. 128 Det Edison (14)__ __x 42 Devoe&Rey(A) (2). 181 Dist Corp Seag Ltd 41'; Dome Mires (12)_..x 34 50% Douglass Afr. . 9 6214 615 61l 12% 29 Dresser A (b1% 2 5% 9l : 5 Dunhil) Internat’l__ 5% 38% 314 Nat Biscuit (1.60)- 18% 13% Duplan Stk (1) __ 3 30 213 Nat Cash nex (0e)x 5 153 133 Dupont de N 13.60 _ 9 21 Nat Dalry 2(1.20).. 34 115% 111% Duquesne Lt 1st(5) 3 313 113} 5% 10 NatDept Stores .. 4 6 [Eastern Roll Mills. 2 Nat Distillers 56 Eastman Kod (15) -y Nat Lead (50c) 81, Eaton Mfg (2) 3215 2 3 Nat Lead pf (B)(6) 0% Elec Auto L (1.20) *e Nat Pwr&Lt (60c) . 10 Electric Boat Nat Ry Mex 2 hnEl!anth( . Nat Steel (1Y Nat Supply Co Nat Supply Co pf.. Nat Tea Newport Industri Am Car. (14) = Am Car & Foundry.. wRE 'y & EF 1+ i almamasn o I Sterling Secur pf__. 16'; Stewart Warn(50¢) 14% Stone & Webster __ 5 914 Studebaker Corp... 108 4 24 118 Sun Ol pf (6) 1 27 Superheater (50¢). 3 Supertor O1L — 9% Superior Steel . #_. 23 Sutherl'd Paper t1_. 20% Swift & Co (1) 1% Symington (d). 57 Symington A @ n‘u Tenne; 44+ 2 BY VICTOR EUBANK, Ascociated Press Financial Writer, NEW YORK, June 29 -—Heaviness of steels put a damper on a s market rally today which was ina rated by Chrysler with a jump to a new six-year top. Late profit-taking showed up in most departments, although the motor leader and several specialties held | gains of fractions to around 2 points. The close was irregular. Transfers approximated 800,000 shares 7% Tex Pac Coal & oil” 11 10% 9% Tex Pac Land Trust e 1% 8% The Fair __ 3% Third Avenue _ 3 Am P&Lt $6 pf (3) 48 Eng P S 35 50 of ww % Am Radlator 55 Eng Pub Sve $6 pf cf 116,376,00 calls, against 107,319, 000 a year ago. Am Rolling M(1.20) % Equit Office Bal0c.. The Washington Ges Light Co. re- | Am Seating . ___ 208 11 ErleRR 33% Am Shipbuilding 2 ported a net income of $622.735 in the same five months over last year While $53,000 lower than a year ago, | the company had to meet an increase in expenses of more than $280,000. | The substantial net income, in spite | of growing expenses, reflects excellent business conditions in the Capital. The Georgetown Gas Light Co. | reported a modest increase in net earnings over the 1935 figures, backing up the business uptrend in- dications from other sources. The net profits of the Washington Rapld\ Transit Co. during the same period | were also favorable, being better | than a vear ago | The Capital Transit Co.’s deficit | of over $10,000 in net earnings in the five months would hardly indi- | cate general business progress here until it is explained that the mount- | ing cost of operations brought ram-! ings down from a net income of more than $382,000 in the same period a year ago. | A gain of 7.950.904 in the number | of revenue passengers carried on street cars and buses, over the 1935 | total, adds definite evidence of the speeding up in business conditions in the Capital. Higher Dividends Forecast. In an analysis of the revenue act of 1936, United Business Service in its current report states that one of the most important effects of this legisla- tion will be the inauguration of more liberal dividend policies. Companies must either distribute substantially all of their earnings or pay higher taxes to the Federal Treasury. The Service lists over a hundred companies which are likely to increase, resume or in- itiate dividend payments. Besides bringing about larger div dends on common stocks, it is ex- pected that the new tax bill will speed the payment of arrearages on cumula- tive preferred stocks and the resump- | tion of dividends on non-cumulative preferreds. The new law will probably | increase investment interest in high- | grade equities because of the prospect of larger disbursements. Among the other effects of this lrg- islation will be the simplification of | many holding company structures be- cause of the tax on intercorporate div- | idends, and an increase in new capital issues and bank borrowings which will | resuit from the policy of more liberal dividend payments, today's forecast ! says. Sales Gain Fastest in East. Daily average sales in small towns and rural areas for May showed a | larger increase in the East than in other parts of the country as com- pared with May, 1935. Estimates of | the Bureau of Foreign and Domestic | Commerce, based on dollar value of rural chain store and mail-order sales, indicate that sales in the East were about 26 per cent above May of last year as compared Wwith an increase of about 21 per cent for the country es a whole. The lowest increase, 19 | per cent, was recorded for the Middle | West. Sales for the first five months of 1936, as compared with the corre- sponding period of the previous year were highest in the Far West, where & 19 per cent gain was recorded, anul 91% 56% Am Smelt & Ref(2). 1081y Am Sm&Ref pt (6). : 133% Am Snuff pf (6) Am Steel Foundry Am Stores (2) _ Am Sugar (2) Am Sumatra Tob 1. : Am Tel & Teleg (9) 2 Am Tobaceo (5) __. 104 881 Am Tobacco B (5) . 150 136 Am Tobacco pf (6)_ 11% 9% Am Type Foundry_. 251 197« Am Water Works__ 11, Am Woolen 0% 5% Am Woolen pt (32) 3% Am Zine & Lead Anaconda Cop(a30c Anaconda W (as0c) Anchor Cap (6c) _. Anchor Cap pf 6% A P W Paper Archer-Dan-Mid t1_ Armour (Iiltnots) .~ Arm'r(111)pr pf(6)_ Armstrong C (1%). Arnold Constab 50c. Artloom Cerp Asso Dry Goods Atch To&S Fe(b2)_ Atch To&S Fe pf(5) Atlantic Coast Line Atl Gult & W Ind . At Gulf&W Ind pf_ Atlantic Ref (1) Atlas Powder (2)_. Atlas Tack (a30c) -~ Auburn Auto - Austin Nich pf A __ Aviation Corp: Del) Baldwin lLoco (@) Baldwin Lo asd (d) Ba!dwin Loco pf(d) Baltimore & Ohto Baltimore & On pf _ Barker Bros pf « Barnsdall Oil (80c) Bayuk Cigar (75¢) Beatrice Cream (1). Beatrice Cr pf (7). Beech-Nut P (13) . Belding-Hem (1) Bendix Aviation(1). Benefictal Lot t1%) Best & Co (12) Bethlchem Beth Steel 5% (1) . Beth Steel 7% pf(7) Bigelow-San (a50c) Blaw-Knox (40¢) Bloomingdale pf(T) Boeing Airplane Bohn Alum & Br(3) + Bon Ami A (4) Bpn Ami (B) (2%) Borden Co (1 60) Borg-Warner (3)_. Boston & Maine ___ Eridgep't Brass 40c Briggs Mfe (12) Briggs & Strat (3)_. Bristol-Myers (12). Bklyn-Man Tr (3) __ Bkiyn-Man T pf(6). 5 Bklyn & Queens Bucyrus-firie Bucyrus-Erie cv of Bucyrus-E pf $3% _ Budd (15 G Mty Budd (E G) Mfg pf. Budd Wheel kS % Bullard Co (a25¢) -~ : Bulova Wateh Burr Ad Mcht60c) Bush Terminal (d) Bush Term B f cod Butte Copper&Zine Callahan Zine S 14 6 Calumet&Hec a250. 401# 30 Campbell Wy (11)_ 16'. 10'x Canada Dry G A 57% 54 Canada Southn (3)_ 16 107 Canadian Pacific __ 43'; 37 Cannon Mills (2) __ 9% 6% Carriers & Gen 200_ 186 9215 Case (J 1) Co 54% Caterpillar Trac(2) 21% Celanese Corp a50c. 19 Celotex Corp 253 Cent Aguire (11%). 474 Cerro de Pasco (4)- 81 Certain-teed Prod . R01; Certain-teed Pr pf 1913 Champ Pap & F (1) 143 291 106% 107 143 291, 16 ErleR R 18y of. 11‘4 Erie R R 24'pf ‘h 348, 3% 18% R4 6974 215 201 38 2474 100", 40 4% 32 24 30 2% 475 3 114 Rl a2y 22 10% 141 T~ 5 1 3y 334 9% 3117% 18% Evans Products (1). « Exchange Buff Fairbanks Morse Fajardo Sugar (2) Federal L1 & Trac Fed Lt & Tr pf (6) Fed Min & Smelt pf. Fed Screw Works _ Fed Water Sve (A). Fed'd Dep! Strs(1) F14 Phoe F 1(11.20) x Firestone T&R 1.20 Firestone pf A (6) First Nat Strs(2%) Follansbee Bros «d) Food Machine (1)_ Foster-Wheeler Fourth N1 ww a76e Freeport-Texas (1) Fuller Co pr pt Gabriel Co (A) Gamewell Co Gen Am Investors _ Gen Am Trans(1%) Gen Asphalt(b25e). Gen Baking (60c) Gen Baking pf (8) n Bronze Gen Cable Gen Cable 1A) Gen Blectrie (1) Gen Food Gen Gen G&E 6%cv pfA Gen Mills (3) Gen Mills of (6) Gen Motors (12) Gen Outdoor Adv Gen Outdoor Adv A 313 Gen Public Service. 261 13% Gen Realty & Utll Gen Real&U pf ww_ Gillette Saf Raz(1) Gillette S R pf (5) Glmhll Bros Glidden Co (2) Gohel (Adolf) - Goebel Brw C(#20¢) ¢ Gold Dust vte (60c), Goodrich (B F) Goodrich (B F) pf_. Goodvear TR Goodyear $7 pf (4)_ Gotham Silk Hose . Graham-Paire anby C (2d stpd) Granite City Sul (1) Grant (W T) (1.40) Grt Northern pf Grt North'n Ore(1). Grt West Sug (2.40) Green(HL)Co (+1) Greyhound C'p 3.20 Gulf Mobtle & N 2 Gulf Mobfle & N of. 21% 14 { 119 109 Al% 30 16% 12 115 104 9 A% 4475 30 | 11113 108 Gulf States Steel __ Hamilton Watch Hamilt'n W pf $81. Harbison Walkit1) Hat Corp of Am(A) Hat Cpf ww (6%) Hayes Rody =2 Holland Furnace Holland Furn pt (5) Holland & Son (50c) Holly Sugar (1) . Houd-Hers (B)13% House Fin (A) (13)x Houston U1 vie Howe Sound (13) Hudson & Manhat Hudson Motor Car. Hupp Motors 11linots Central Indus Rayon (1.68). inland Steel (3) Inspiration Copp 4 Insur Sh Md ct 18c_ Interboro R T ld: Interiake iron Int Agricultural __ Int Bus Mach (16) Int Cement (1%) .. % Int Harvester 1.20 I[nt Hydro Elec (A). Int Merch Marine Int Nickel(Can)1.20 Int Paper & FW(A). Int Paper & Pw(B). 6 2% 274 Int Paper & P'(C) 4 24 3% 110 Int Ry C A pf 40 3 ‘2 88 » 5 24% Thompson P alle. . + A+ + N ¥ Shipbullding... N Y Steam pf (6) .. Norfolk & W (1%) __ North Am Aviation. North Am Co (1)_.. Northern Pacific. ... Ohio Ol (50e) Oliver karm ki Omnibus Corp vie . Oppenheim Collins_ Otis Elevator (60c). Otis Steel _ Otis Steel pr pf_ Qutlet Co (12) Owens-11] Gla : Owenc 111 G.July 24 Paciic Am Fish (1) PacificG& E (1) x Pacific Ltg (2.40) « Pacific Mills Pac West O (b2s¢) Packard Mot ( ) Paratiine Co (2) ... Paramount Pictures Paramount 2d pf __ Park Utan Parke Davis(a1.35) Parker Rust P(1%) Parmelee Transp't. Pathe Film Corp._— Patino Mines = Pecriess Motor Penick & Ford (3) .. Penney (J C) (13) . Penn Dixie Cement. Penn Dixie C pf(A). Penna Glass ctfs . Penn Railroad al). Peoples GasCh1 _. Pere Marquette pf.. Pet Milk (1) - Pet C'pof Amalic. Pfeiffer Brew(1.20) Phelps Dodg c. Phila Rap Tr pf(d). Phila & Read C&1._. Phillip Morris (1)_. Phillips Petrol(11). Plerce Petroleum__. Plisbury Fl (1.60)_. Pitts Coal . Pitts Coal pt - Pitts Screw & Bolt.. Pitts United Corp. « Pitts United pf . Pitts & W Va Plymouth Oll(a25¢c) Poor & Co (B) Porto R Am Tob(A) Porto R Am Tob(B) Postal Tel&C pf(d). Pressed Stl Car (d). Pressed St1 C pf(d) Proctor&Gam(13%). Pub Sve NJ pof (6)_ Pullman Inc (111). Pure U1 Pure Oil pf (8) _. Purity Bakeries 40c Radlo Corp Radio cu 18t pf 3%_ Radlo-Keith-Ord). Raybestos-M (1%). Reading (2) Remington-R (60c). Rem- Rand pt (6) Reo Motor Car. Republic Steel Repub Stlpf A (6). Reynolds Met «1) Reynolds M pf(5%) Reynolds Spring (1) 50 Reynolds Tob B (3) 82 Roan Ante (b76c) 5% Rutland R Rpf 's 30 Safeway Stores (2). 111 Safeway Strs pf(7) 22% St Joseph Led(80c). 113 St L-San Fran (d).. 233 St L-San Fr of (d) .. 38% Schenley Distaiic. 97'; Schenley D pf (6%) 1% Schulte Retail Strs. 5312 Scott Paper (1.80) _. Seaboard Alr L (d). 2 Seaboard A L pf(d) 303, Seab’d Oil(Del) (1). 59% Sears Roebuck (2)_. 2% Second Natl Invest. 10%3 10's 98 98 151% lal 286 24 51% 16% lfi' Pacific T&T pf(6)_ x 108 150 26 26 45'% 445 Pub Sve N J (2.40)_ 4415 107% 1073, Pub Sve NJ pf (6). 121 121 47 47 188 18 106% 106% Pure Oil pf (6) 2 96' 96'2 :Im 30% 111w 111 4% Thomypson Starrett. 9 14% Tide Wat Asso 60c.. 250 4 100% Tide Wat A O pf(6) 124 Timken-Detroft ___ 2814 5 56 Timkem R B (12) __ 27 5% Union Transamerica ad0c. Trans & Westn Afr_ Tri-Contl Corp - Tri-Cont) C pf (§) - Truax-Tra Coal 20th Cent Fox Film. 20th Cen Fox pf 1%. Twin City R T pt Ulen & Co = Und-El-Fish (3 Union Bag&Pap (2) Un Carb&Carb 2.40 Union O1i of Cal (1) Pacific pf (4 Un Tank Car (1.20). Unitea Atreraft ___ United Alr Lines vtc ; United Am Bosch__ United Bisc (1.60) .. United Carbon 2.40. « United Corp United Corp pf(3)_- United Drug United Dywood (a1) = United Dyew pf (1) 5005 100's United Fruit (3) 1 8% United Gas tmp (1). 20 16 | 101, 16912 160 14 8% 5 u u U u u u u U 431 12% 827 1% 2 9813 % T 110 Sta 116 313 111% 116', United Gas 1 pf (5). U S Distributing __. S Hoftman ___ S Ind Alcohol (1) S Leath pr pt vtc SPIpe& F (1%). x S Realty & lmp__ S Rubber ___ . __ S Rubber 1st pf_ TS Sm & Ref (af%) I USSm&R pt (3%) U S Steel pf (2) United Stores ( United Stores pf $3 % Univ Leaf Tob (73) Univ Leat T pf (8) Univ Pipe&Rad (d) &8 14 Utll Pwr & Lt (A) . 4 4 0y 10s 158 Van Raalte (1) ___. Va-Car Chem 6% pf Va El & Pwr pt (6). Wabashpf A (d)_.. 1 6% Wabash pf B (d) _ Waligreen Co ((2)_. 1 34'; Walker (H) (2) 5 Walworth Ce. 8 6 Ward Baking (A).. 3 1913 Ward Baking (B) _ Ward*Baking pf(3) Warner Bros Ple___ Warner-Quin (d) Warren Sros___ Waukesha M (160c). Wesson Q&S(150¢c). 108 113% - 1008 4w 28% t Pa Elec pf(6) West Pa Elec pf(7) West Pa Pwr pf(6) West Pa Pwr pf(7) 39 3 2 Western Maryland. 1813 'gh'se A B (1) x ‘estingh'se E Weston El 1 (a2bc) Weston Elec (2) A Westvaco Chlo t40c Wheeling St. pf $2_ White Motor. White Rk M §(1.40) White Sewing Mch_ Wilcox Oll & Gas__. Wilson & Co (60¢) Wilson & Co pf (6) - Woolworth (2.40) - Worthington Pump Worth Pump pf(A) Worth Pump pf(B). Yellow Truck 14 Yellow Truck pf. Young Sp & W (3) 5 4da 8 41% Youngstn Sheet& T 41 3 11's Zenith Radlo _____. 37 26 e S N L TR OIS P Py 's| December, 1 6.10; May. CHICAGO GRAIN | By the Assoctatea Press. CHICAGO, June 29.—Buoyantly soaring late as well as early, corn rose s s & r 60s 131y 6343 25% 254 — b 620 —1t | The steels weer backward through- out following announcement that this industry had decided to battle for the open shop against demands of or- ganized labor. Current steel mill op- erations weer officially estimated at 74 per cent of capacity, up 3.8 point a new high level since May, 193¢ The wide percentage upt was dun partly to a step-up to make up {rr the July 4 holiday. Chrysler, up more at its best, attracted a fol 1 a revival of rumors of a possible stoci split-up, increased dividends or a suh- stantial extra Kroger Stores dipped around 2 n< the company’s latest 24-week report revealed a rather sharp decline in n profits The best performers on the upsic in addition to Chrysler. included Big Manufacturing, American Telephor Dome, McIntyre Porcupine, Cerro D~ Pasco. Phillips Petroleum. Atlan Gulf & West Indies. May Departmer Stores, Sears-Roebuck and Americ Can. Among losers of as much as 2 poir or so were Bethlehem, United Statr | Steel, Midland Steel Products. Weste | Union. Underwood, Elliott Fisher, Ir- ternational Harvester, Santa F¢ Southern Pacific and New York Cen- tral. NEW YORK COTTON ¥ the Associated Press NEW YORK. June 29.—Liquidati promoted by relatively easy cables a reported reopening of the 12-ce loan for additional releases of Got- ernment financed cotton was absorbed on declines of about 16 to 18 points in cotton and partial rallies fol lowed on trade buying and covering ‘The midafternoon market was quict | and steady at net declines of 10 to 11 than 3 poir Cottonseed Oil. Bleachable cottonseed oil future: closed steady July, 9.30b: September, 9.25b; October, 9.11: December, 8.99 Sales, 41 contracts. b—Bid. New Orleans Prices. NEW ORLEANS. June 29 (@ - ot Mors loen cttion wouwd bé said mad on the New Orleans lumped from rom Washing- Credit_Corp. Jthe trade saw an reity of actual “held up rel New crops bo as_Octaber January lost 16 Cottonseed oil ily. N.N6b. Septemb i, December. §.53b. January. | erpool an(.lmn LIVERPOOL. 19 Cotton. receipts. Spot Dprices Quotations in pence: Amer sood middline. lowest in the Middle West, which A showed an increase of 7 per cent. 12.}, g}:.’:"’,':."kf’éffn‘fa)) Comparing these periods for the coun- = 51 Ches & Ohito (2.80) try as a whole, an increase of 10 per 27% Chi & East 1 pf(d) cent was shown. 1% Ch! Grt West (d) __. Sales in the East include those made 4 Sg: (1"(;&“17‘"' ‘?’nd) in territory lying east of the Ohio nd&Lou p . River and north of the Virginia-North LY Ol M e s 3t 57 Zonite Products . _ 1 6 6 B 15% Servel Ine (60¢) ... 2. 24 ximal e 22 St ul"Sl?::; M’x;h:oNbfe:;s““ Eifi'fi'&?' EChaa 7 470,000 2:00 P.M.___ 560.000 S0ty Fuol‘sluie))-' ?:“n Sales for the day. 770,000 Dividend rates as given in the above table are the annual 30% Sheaffer Pen (2). 31 14% Shell Unton O11 . 165 Gash payments based on the latest quarterly or half-yesrly | 2 cents a bushel today and outdid sea- | son top-price record for September and December contracts. Abnormally high temperatures prev- alent over the corn belt, with dearth | of moisture, provided active incentive ‘to purchase corn. Final transactions o - Int Salt (1%). 4 25% 25':2 Int Silver pf . 7 5712 B5Tiy Int Tel & Tel 2 14« 14w Interstate Dep! a1t 153 15t Island Creek (2) 27%h Jewel Tea (14) 79 Johns-Manvilie(2). 105 105 122% 122% +4++ +1 1+ @ (R Carolina line; in the South those made in States south of the Ohio River, east of the Mississippi and | Arkansas, Louisiana and Texas. Financial District Gossip. Charles Carroll Morgan, manager of the Washington office of G. M.-P Murphy & Co., has a trip to Europe on his vacation schedule. He will go over on the Europa and back on the Queen Mary, in order to have as much time as possible in crossing. J. E. McCombs, rétiring president of the District Underwriters’ Association, Is proudly showing the gold wrist watch presented him at the final meet- ing of the year. An inscription lauds his service to the association during the past 12 months. The Virginia Railway reports $4.67 per share earned on common stock in the first five months of 1936, compared with $2.14 per share in the correspond- ing five months in 1935, one of the best gains reported by nny of the im- portant railroads. Col. Leonard P. Ayres says the pres- ent outlook is for continued low rates of bank interest over a long period, “even with continued business recov- ery. good progress toward budget bal- ancing, and the refunding of most of the short-term Federal debt. ‘Washington Market Active. ‘The week opened with one pf the ousiest sessions of the Wi n Stock Exchange in several weeks. Riggs National Bank common and American Security & Trust Co. stocks were in unusual demand. Mergen- thaler Linotype again changed hands at 47. Bonds were also active at re- cent strong prices. TOBACCO INDEX GAINS. NEW YORK, June 29 (#).—The Siich weekly average tobacco price for U. S. type 12, grade b¢f, flue-cured tobacco advanced last week to 16.7 cents a pound from 16.3 cents. 2% Chi M StP&P pf (d) 215 Ch1 & N W (4) 1215 Chi Pneumatic Tool 40% Chi Pneu Tool pf 3% Chi R 1&P 6% pf(d) 315 Chi R I1&P 7% of(d) 19% Chi Yellow Cab (2). 7 Childs Co 25 Chile Copper (1) 85!5 Chrysler Corp (6). . 2% City lce&F of (6%) 43, City Stores - 23% Clark Equip (80¢). 35 Clev Graph Br (t1). 48 Cluett Peabody (1). f#4 Coca-Cola (2) 55% Coca-Cola A (3)_ 13% Colgate-P-P (60c) 391 Collins & Atk (2) .. 107% Collins & Atk of (7) 8% Colonial Beacon - 3% Colo Fuel & Ir (d) . 24 ColoF & 1pf (d) _ 19% Colo & South 1st pf 21% 14 Columb G&E(a20¢c). 106 90% Col G & Epf A (6) 45 31 Colum Plct vteft1). 51% 42% Columb Pic pf(2%). 134 94 Colum Carb vtc:14) 647 44 Comcl Credit (3) .. 116% 110 Comcl Cred pf (5%) 82% 55 Comcl Inv Tr 3.60. 116 110% Comc) | T cv pf (6). 114% 97 Comcl In T pf(4%) 24% 14% Comel Solv (6bc) _. 5% 2% Comw & Southern.. §2 59% Comw & Sou of (3). 12% T Conde Nast Pub___. 44's 32% Congoleum-N 1. 20 10 ComnR&L. 8 Consol Ciga 72% Con C pr pf ww 6% . 65% Consol Cigar of (7) 2 Cons Coal (Del) vte 27% Consol Edis N (1) 108% 102 Consol Ed NY Df(s) - 4% Consol Fiim = 15% Consol Film pf (31° 3% Consol laundries.. 11% Consol Of} (60¢) - 3 Consol 1extite «d) 15% Container Corp (1) 10% Conti Baking (A). 1% Cont} Baking (B) 67% Contl Baking of (4) 6712 Contl Can (3) - 18 * Cont’l Diam Fib(2). 2% Contl Motors 15 28t Contl O1 of Del(1)_ 29 Contl Steel Corp(2) 104 341 45% 123% 63% 115% 4% 13 14% 341 123% 63% 115% T4% % 116% 116% 113 3% — % 113'/1 Wl‘t McKeesp't T P (14) BEYEET LY LERE S I.|°+III| R - * 1+ 4+ FES l+| - FOF @ SEFFEF ++1 4+ 126“ 121% Johns-Manv pf (7). 902 121 26 39 22% 334 28% 247% 25% 41% 22% 251 110% 10215 7% 66 28 22 4% 32 1914 124 15% 9414 2% 9% 89 12 Jones&Laush7%pf 3 79 Kan C P&L 1st B(§) 116'% Kans City Southert. 2 Kans City South pf. Kaufman Dep 8 (1) Kayser(J)& Coa75e Kelsey-Hayes (A) Kelsey-Hayes (B) Kelvinator (160¢) 4 Kennecott C (1.20) 4 Keystone St1 & W._ Kresge (SS) (1) _. Kresge (3 S) pf(7)- Kress (S H) (11) Kroger G&B (1.60) Laclede Gas St L pt LamoertCo (2) .. Lee Rub&Tire (50c) Leh Por Cmt(a25e) Lehigh Por C pf(4). Lehigb Valley Coal. Lehigh Val Coa! of. Lehman Corp (18) Iehn & Fink (13%)_ 371 Lerner Stores (2) - 4% 7 25 9% 36% 321 43 13 20 57% 22% 29 12% 92 39% 1% 46 87% 15% 11% 37 2T 40% 8% 34% 14% 17% 11% 27% Mathieson Alk 1%.. 43% - = Libbey-Owens G(2) Libby McNeill & L. Life Saver (1.60) __. Ligg&Myers B(t4)_ Link Belt (11.20)_ Liquid Carb (1.60).. Loew's [ne (12).... S » -8 .- L1551 JET T TEIVITE V- PRIt JUPTS-3 - OV SO or) ) La Ofl Ret pf (4) _ Loulsv G&EDIA 1% Louis & Nash (a2)_ Ludlum Steel (1)_. McCall Corp (2) .e. McCrory Stores .. McCrory Stores pf. Mcintyre Porcu(2). McKesson & Rob .. McKesson&R pf(3). McLellan Stores...—. Mack Truck (1) Macy (R H) Co (3). Madison Sq G t60c.. Magma Copper (3). Man El md gtd (d)_ Manhat Shirt (60c). 5 Market St Ry Marshall Field & Co May Stra (2).. 9 pEE SELRC S (81 & +++++ 1010 EEIEEE + 1+ e ES +1 - & E3 l 120 110'; Shell Un O pf (5%)- 14'; 9l Silver King (40c) 32% 19% Simmons Co-_. 119% llBh 119% 10 9% 9% 30% 29% year. b Paid 29% nit of trading less than 100 shares not including extras. last vear. or being reorganized. fAnnual rates— “Accumulated " dividends. a Paid 1ihis d Companies reported in receivership xEx dividend NEW DEBENTURES READY. NEW YORK, June 29 (Special).— Marking the final step in the re- adjustment plan of Anglo-Chilean Nitrate Corp., Medley G. B. Whelpley, president of the corporation, an- nounced today that the new sinking fund income debentures, due January 1, 1967, issuable under the readjust- ment plan in exchange for the cor- poration’s 20-year 7 per cent sinking fund debenture bonds, are ready for distribution. CHICAGO PRODUCE o SHICAGO. June 29 P.—Butter. 13. 999; S mery——cpemu e), Y2: extras (92). 30% flrm (90-91), 30%; Arsts (88-89) ) 30 n-ndnuz 166). “Centralized carlots, Eggs, .4 tead: xtra firsts, nt ~receipts, 2134; storage Hens 7. trucks. steady, chickens easy: hens. b pounds end less. Zo: more, than 5 pounds. 18%: Le up, ter: lfl avy old ducks, 1 mall White. ducks, 0%: young geese toms. 15; u‘ mhl%e rghgu M'ivl FASTER PACE SET AT STEEL PLANTS Institute Estimates Week’s Operations at 74 Per Cent of Capacity. Y the Ascoctated Press. NEW YORK, June 29.—Operations in the steel industry for the current week advanced 3.8 points to 74 per cent of capacity, compared with 70.2 last week, the American Iron and Steel Institute estimated today. Authorities at the institute explained that the principal cause of the rise was the fact that the figures were calculated on a five-day basis for the current week because of the coming Independence day holiday, while a six- X |day basis prevailed last week. A month ago the operating rate was 68.2 per cent and a year ago 32.8 per cent. e MANAGEMENT TO STAY. NEW YORK, June 29 (#)—Con- tinuation of the present management of Schulte Retail Stores Corp. and C. Knox gt the behest of counsel. David A. Sch heads the management. Judge permitted creditors to apply for appointment of & trustee. DIVIDENDS ANNOUNCED NEW YORK. June 20.—Dividends de- | clared: Extra. Rate 27 Sik. of Pay- ate riod. record. & Waukesha Motor Co 3¢ oo 3-15 83 Resumed. Santa cCruze Portiand, Cement. 50¢ Regular. Calgary Pw Co ofd Canadian Bronze Co _° Can er;{ndco pld $1 Cen Bt & 20¢ Q Monawi Had P $15 pta <F Pacific Lighting Corp #0c Q Waukesha Motor Co -1 George Weston Ltd 5% ptd $1 7-20 -— NEW YORK PRODUCE. NEW YORK, June 20 (). —Eggs. S 036: irregular. 'Mixed colors: Special pa | Selections ’ {rom fresh receipts, rcial stand- 0 Creamery. extra (7 scores) zed (90 score). 166.8:36: quiet. ts. fresh, ‘fancy. State. e 18; held. 1935 try steady. By freight: Broil- ll'\ (Rocks), 1 00! rooster turkeys, 14a22: ducks (all sections), 115 e eicehe "anauoted: roosters. 1 turkeys. @il sections). 11a13: chickens Dressed ultry’ irresular Chickens. 10 ol turkeys morumem 178 "4';. ducu {Long Tsiand). barreis, 4t i Tauiae trkess. 2oata: ducks (Long a18: tu rrels. 17: boxes, 18: fowls un- TAX NOTES OFFERED. NEW YORK, June 29 (P —State Controller Tremaine announces offer- ing to bankers of $75,000,000 New York State tax anticipation notes dated July 1, 1936, and due May 11, 1937, | in corn were at the day’s topmost level. Corn closed strong, !2a2ls cents above Saturday's finish, July. 66%a 66 September, 66'3a66%; Decem- ber, 63',a66%; wheat, 7salli ad- | vanced; July, 94'3a94’ September, | 9475a95. Oats 'ga’: up and provisions | varying from 15 cents setback to a | gain of 2 cents. Low o Chltqo Cash Market. Cash wheat, No. 1, red, 9 red. garlicky, 98; corn, No. 1, 74'2; No. 2, mixed, 67!(a74'z, the latter all white; No. 3, mixed, 63':: No. 4, mixed. 62',a63!5; No. 1, yellow, 67'2a68',: No. 2 yellow, 67',a68'( No. 3, yellow, 6612a67; No. 2, white, 77a77%2; No. 4, white, 74'2a75; sample grade, 55a61; oats, No. 2, white, 34; No. 3, white, 30%2a32; sample grade, 26'2a31; no rye; soy beans, No. 2, vellow, 97a98; sample grade, 90a96; barley feed, 35a50; malting, 55294; timothy seed, 3.90a4.20 cwt.; clover seed, 11.00a17.75 cwt tures closed very steady. _ Hish. Low, Clase. BT RR%. December Exchange, A n mé"n‘!—'l'u" i;’-';' :...”.‘.. and ine ot