Evening Star Newspaper, July 7, 1936, Page 18

. A—I18 =3 THE EVENING STAR, WASHINGTON, D. C., TUESDAY, JULY 7, BG GAN SIONN [TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE[SIIIYS END DAY ' WITH HEAVY TONE By Fxivate Wire Dirget 4 The Star. Net | migh, et nee. | i Taa Ada 00. High. Low. Close Ches, | Highy Low, Dividend Rate. = Add 00. Hieh. Low. Close.Ches. Extreme Losses of 1 to 3 or FINANCIAL, 1936. FINANCIAL. Prev. 1036 ‘Stock Dividend Nate. A4d 00, High. Low. Close.Ones, | High, Low. Dividend Rate. High. Low. Dividend mu Mfl 00. High. Low. 4 > auu 17% Cont'l Diam Fib(2). 5 18 17% 18 — %[ 16% 124 McCrory Stores.... 1 14% 4% — % 59% Sears Roebuck (3). 65 73 2% 78 - % 118 111% Abr & Straus pf(7). 30s 113} uz 113+ %1 46 35 Contl lnsur (11.30). 4 40 39% 39% — % 39% Mcintyre Porcu(3). 4 42% + % 15% Servel Inc (60¢) .. 35 224 — % 4% 59 A teel (13) 1 60 —1%| 4 2kContlMotors...... 13 2% 2% 2% — % 96 McKeesp't T P (14). 99% 9% + % 20% Sharon Steel Hoop._. 20% — 1% 11% — %| 381 284 Contl Ol of Del(1)_ 29% 20 20% — % 8% McKesson & Rob__.. 9 8% 91 Sharon Steel pf (5). 2 90 -1 19% — M| 46 2714 Contl SteelCorp(2) 1 28 28 -Y% 87% McKesson&R pt(3). 42% — % 4% Sharp & Lohme._ . 1 —% 21 - % 69 55% Corn Bx Bk&Tr (3). 180s 65 63% 11% McLellan Stores.... 13% + % 4314 Sharp & D ot (335). B7% + % 2% = % | 824 68Y Prod Ret (7. 42 8% T1% 1% Advance Rumley __ 27% Mack Truck (1)._.. 31% ~1 11% Shattuck F' G (50¢c). 13% Receipts for This Year and for June Exceed Re- turns Year Ago. BY EDWARD C. STONE. Latest reports at the City Post Office back up the many other indi- cators which prove that business is still advancing steadily in the Nation's Capital. Postal receipts in Washington during the Gov- ernment fiscal year ending June 30, 1936, totaled $7,101,580.95 in comparison with $6,308,074 in the 12 months ending June 30, 1935, an increase of $793. 506.95. This im- pressive gain in- dicates most clearly that busi- ness progress here is not being made by spurts, but is constant. June kept up the record scored every month this year in larger postal receipts than .in the corresponding months in 1935, total receipts reach- ing the sum of $583,522.95. This figure compares with a total $503,643 in June a year ago, a signal gain this year of $79,879.95, one of the best comparative advances in many months. At the same time June postal receipts were almost $11,- 000 higher, $10,889.95 to be exact, than in May of this year. The $583,522 figure is also ahead of the June 1934 total of $458,163 and of the $444,198 report for June 1923, which was considered as a normal figure up to the time of the 1929 crash, as well as since that memorable period. Stevenson Well Known Here. John A. Stevenson, just elected ex- ecutive vice president of the Penn Mutual Life Insurance Co., with head- quarters in Philadelphia, is well known among insurance men in Washington because of his deep interest in in- surance education. He was a director in the first school of life insurance salesmanship at Carnegie Institute, where several local underwriters took €pecial courses. He became second vice president of the Equitable Life Assurance Society, in charge of training activities among 10,000 salesmen. He resigned from the Equitable to take charge of the Penn Mutual's Philadelphia agency. He is a director in the American College of Life Underwriters and has written several books on life insurance matters. He has been directing the Penn Mutual's national advertising program for some time and will continue with this work. Discounts Drop at Richmond. Discounts held by the Federal Re- gerve Bank of Richmond rose by $77,- 000 between the middle of May and the middle of June, but on June 15 this year totaled $527,000 less than discounts held on the corresponding date last year. The portfolic of open market paper declined by $71,000 during the last month, and at the middle of June showed a drop of $54,000 in comparison with holdings of open market paper a year earlier. Loans made direct to industry for werking capital also declined be- tween May 15 and June 15, by $40,- 000, and on the latter date lacked $268,000 of equaling industrial ad- ‘vances outstanding on June 15, 1935. These changes resulted in a net de- cline of $34,000 in total earning assets last month, and a decrease of $849,000 during the past year. The ratio of reserves to note and depdsit liabilities combined on June 15, 1936, was 1.05 points higher than the ratio on May 15, and showed a rise of 10.61 points in comparison with the ratio on June 15, 1935, the Rich- mond Reserve Bank reports in the latest monthly review. Bankers Back From Rutgers. Washington delegation of 11 finan- ciers, who have been taking two weeks’ intensive study at the Graduate Bchool of Banking at Rutgers College, were back in the financial district to- day. They are now up against a long stretch of home work. The bankers from here included R. Earle Haycock, Kenneth F. Brooks and H. T. Bisselle, Riggs National Bank; George M. Fisher and Ralph Endicott, Washington Loan & Trust Co.; Richard A. Norris and J. Frank Rice, Lincoln National Bank; Walton L. Sanderson, Hamilton National, and three members of the staff of the Federal Reserve Board, Charles T. Malone, Andrew W. Lee and John C. Baumann. The Graduate School course covers & two-year period, with three two- week resident sessions, and takes in very advanced work in the fleld of banking. The faculty of 16 is re- cruited from the office of the con- troller of the currency, universities and banking institutions, 400 students being registered for this year's ses- | sion. The school was organized through the efforts of the Public Edu- cation Committee of the A. B. A. and the Executive Council of the Ameri- can Institute of Banking. Mergenthaler Leads Market. Interest in Mergenthaler Linotype stock was at a high pitch on the Wash- ington Stock Exchange today, the stock reaching a high for the year at 473, but selling off later. The market opened with seven shares gelling at 47!, followed by two 10- share transfers at 471, It then drop- ped to 46%; and reoorded several more sales at 46. The day’s turnover involved 100 shares on nine different trans- actions. - Capital Traction 5s sold up to 82 today at the opening and then went on up to 921, against 913 at the end of last week. The bonds closed with 82 bid and 921, asked. Potomac Electric Power 51, per cent preferred stock came at 111% on a small lot sale. Other bid and asked prices remained unchanged. Security Storage and Carpel Corp. stocks have been added to the list now quoted ex dividend. —_———— INSURANCE ARRANGED BY ANACONDA COPPER By the Associated Press. NEW YORK, July 7.—Anaconda Copper Mining Co. announced it has arranged for group life insurance for the 28,000 employes of the parent company and subsidiaries by the Pru- dential Insurance Co. of America, under which joint contributions will be made by the company and each insured employe. Initial cost to the employe will be 60 cents a month per $1,000 of in- surance. J. A. Stevenson. 58 Air Reduction (t1). 2% Alleg Corp (4) ... 12% Alleg pf wi30w(d)._ 12% Alleg pf w$40w(d).. 121 Alleg pf xW (4) ccee 27 Alleg pr f () caeee Alleg Steel (1).caee % 23% Allied Mills (a50c). 6% Allled Stores 69 Allled St. 35% Allis-Chalmers (1). 19% Alpha Port Cmt(1). 27 Amal Leather 50 Am Az Chm Del(3). 38% Am Bank Note (1) 40 Am Brake Sh(1.60) 133'3124 Am Brake Shpf5% 135% 116% Am Car (14) . 186% 162% Am Can pf e 30 Am Car & Foundry.. 57% Am Car & Fdry pf_. 31 AmChain._ 6 Am Crystal Sugar__ 31 Am Encaus Tiling_. 6% Am & Foreign Pwr_ 25 Am & For Pw $6 pf_ 29% Am & For Pw 87 pf_ 12 Am & For Pw 2d pf. 13 Am Hawaiian (1) _ 5% Am Hid Leather. 37 Am Home Pr (2.40). 17% Am Ice pf (2) . 9% Am Internatiol 23% Am Locomotive __.. 66 Am Locomotive pf_. 10 Am Mch & Met a25c. 27 Am Metal 7% Am Power & Lllhl 36% Am P&Lt $5 pf(2%) 43 Am P&Lt $6 pf (3)-. 18% Am Radiator __ 2415 Am Rolling M(1.30) 18 Am Seating. _____. 25% Am Shipbuilding 2 56% Am Smelt&Ref (2). 108'% 104 Am Sm&Ret pf lfi)- 33% 20% Am Steel Foundry. 6114 48% Am Sugar (2) 141% 129 Am Sugar pf (7) 178 149% Am Tel & Teleg (9 102% 87 Am Tobacco (5) 104 88% Am Tobacco B (5). 25% 19% Am Water Works__. 107'5 92% Am Wat W 1st (6).. 11% 7% Am Woolen. ._____ 70% 54% Am Woolen pf (32). 10 4% Am Writ Pap pf (d) 7% 33 Am Zinc & Lead . 39% 28 Anaconda Cop(a50c 46 35 Anaconda W (a50c) 26% 15! Anchor Cap (60c) .. 110'5 105% Armour Del pf (7).. 7% 4% Armour (Iilinols).. 66'4 Arm'r(I11)pr pf(6)_ 47% Armstrong C (1%). 7's Arnold Constab 50c. 8l Artloom Corp .. .. 12% Asso Dry Goods . 36 Assoclated Oil a25e 59 Atch To & S Fe(a2). 21% Atlantic Coast Line 11 AtlGulf& W Ind 13% Atl Gulf&W Ind pf. 265 Atlantic Ref (1) 111% Atlantic Ref pf (4). 48 Atlas Powder (12) 112 Atlas Powder pf (6) 4 26% Auburn Auto 4% Aviation Corp(Del) 27 Baldwin Loco (a). 29 Baldwin Loco pf(d) 15% Baltimore & Ohlo__. 21 Baltimore & Oh pf_. 417% Bang & Aroos(2%). 131 ker Brothers 82y ker Bros pf 14'» Barnsdall O1l (80¢), 18% 16% Bayuk Cigar (76e)-. 114% 110 Bayuk Istpf (7). __ 18 Beatrice Cream (1). 111% 107 Beatrice Cr pf (7). 38% 33 Beech Creek RR(2). 85 Beech-Nut P (13)__ 13t Belding-Hem (1)__. 21% Bendix Aviation(1). 20 Beneficial Lo(t13%). 19 16% Betb Steel 5% (1)__ 120% 110 Beth Steel 7% pf(7) 23 Bigelow-San (a50c). 14% Blaw-Knox (40c) 167 Boeing Airplane_ 44 Bohn Alum & Br(3) 39 Bon Ami (B) (2%) 25% Borden Co (1.60).__ : 64 Borg-Warner (3)... 1'; Botany Min A (d)._. 12 Bridgep't B 40c xrts 1 Bridgep't B, July 23 43 Briggs Mfg (12) __ 47% Briggs & Strat (3) .. M 40% Bklyn-Man 4’3 Bklyn & Queens ___ 3313 Bklyn & Q pf (33).. 44'; Bklyn Un Gas (3)._ 50 Brown Shoe (3).___ 8% Brunswick-Balke__. 8% Bucyrus-Erie 13'4 Bucyrus-Erfe cv ot- 9% Budd (BG) Mfg. . 1% Budd Mf 1pd.July16 8% Budd Wheel __ 11% Bulova Watch. 25 Burr Ad Mch(16 c). 2% Bush Terminal (d). 8% Bush Term deb (d). 14' Bush Term B pf cod 16% Byers (A M) ___ 54% Byers (A M) pf____ 22 Byron Jackson (1). 30% California Pg(13%) % Callahan Zino. ... 6 Calumet&Hec a250. 30 Campbell Wy (11).. 10% Canada Dry G A_... 10% Canadian Pacific___. 12% Capital Admin (A) - 91 Car-Clin&O sta (5). 6% Carriers & Gen 300 924 Case (JI)Co .___ 142 116 Case (J I)Co pf (7). 54% Caterpillar Trac(2). 32% 21% Celanese Corp aS0c.. 31% 19 Celotex Corp. . ... T1% 54 Celotex Corppf ... 35% 26% Cent Aguire (1134). 57 35 Central RROfINJ. 58 47% Cerro de Pasco (4).. 19% 8% Certain-teed Prod 102% 80% Certain-teed pf (7)_ 104% 101 Champion Pa pt (6) 59 Chesapeake Corp(3) 51 Ches & Ohto (2.80)... 1% Chi Grt West (4) . 4 ChiGrt W of (a) __ 25% Chi Mail Order 1135, 1% Chi M1l StP&P (d) . 2% Chi M StP&P pf (d) 12% Chi Pneumatic Tool 3% Chi R I&P 6% pf(d). 31 Chi R 1&P 1% pf(d) 19% Chi Yellow Cab (2)- 20 Chickasha CO (3)-. 7 Childs Co - 86 Chrysler Corp (6).. 15% City lce & Fuel (3). 4%, City Stores__ _.___ 23% Clark Equip (8 33% Clev Graph Br ('!). 48 Cluett Peabody (1) 55% Coca-Cola A (3) ... 13 * Colgate-P-P (50c).. mfls 102% Colgate P-P pf (6)_. 51% 39% Collins & Atk (2) . 112 107% Collins & Alk pf (7) 26 8% Colonial Beacon. ... 9‘6 3% Colo Fuel & Ir (d).. 24 ColoF &1pf(d).__ 21% Colo & South . .. 14 Columb G&E(a20¢). 90% ColG& Epf A (6).. 80% Col G & B pf (5).. 31 Colum Plet vte(t1). 42% Columb Ple pf(2%). 94 Colum Carb vtci14) 44 Comcl Credit (3)___ 101“ 100% Comcl Cred pf 4% n 117 110 Comcl Cred ot (5% ) 82% 55 Comcl Inv Tr 13.60. 114% 97 Comel In T pf(4%). 24% 14% Comel Solv (80¢) ... 5% 2% Comw & Southern.. 82 59% Comw blon ot (3). ms 8 Consol C3 % Consol uu N Y(). wm 102 Conso! Ed NY pf(5) 7% 4% Conso! Film 20% 15% Consol Film pf (317 15% 11% Consol Ofl (60¢) - 11% 6% Consol R R Cul 7 1% % Consol Textile d) 20% 12% Con C1 (Del) vte pt 26% 15% Container Corp (1). 19% 10% Conti Baking (A).. 2% 1% Contl Baking (B) .. 77% 67% Contl Baking ot (6). 87% 67% Contl Can (3). - 208 97 97 69% 11i+1 4+ (e RS 1 lol‘a IOU’ 101% + ] 1 7 % % 163 155‘/3 162y -3 141 141 +1 72 73 -1 22% 22% 22% - % - ~ReeROTN D NN - l76 112% 110% lll =-1% lflfi 1T% 17T% - % 6% 6% + % 33% 321 32% — % 33 -3 50 -1% 57 4+ % % 134 + % 104 62 19% 19% 19% — % 3 104% 103% 104% + % 97 +1% B 34% 34U 3% - % 46 45% 45% - % 5 123 120% 120% —-2% 16 63% 63% 63% — 5 2 100% 100% 100% — % 2 115% 115 115 3 5% T5% 6% — % 1 lM 114 114 17 16% 14% 15 — 4% 65 3% 3% + 2% - 8l + 38 + 108 + . A% - 17% - 12k — ™% FEESRFEF Corn 10!% 162 Corn Prod R pf (7). 4 Coty Ino 87',6 35 Cream of Wh (3) 15% Crosléy mmac). 43% Crown C & 8 (1) 45% Crown C&S pf(2.70) 7% Crown Zelled’k vto.. 28 Crucible Stlfl llblllhlfl‘ 99% Curtts Pub pf (7). 4 Curtiss Wright._... 201 10% Curtiss Wright A... 43% Cutler-Ham (t1).. 52 Deers& Co . _._ 27 Deere & Co of $1.40. 19% Detsel-Wem-G 1500. 36% Delaware & Hudson % 14% Del Lack & West. 128 Det Edison (t4) - 18% Dist Cq Seag Ltd. 41'; Dome Mines (12)_.. 7% Dominien Store: 50% Dougl Alr 5 Dunbhlill Internat’].. 18% 13% Duplan Stlk (1) 153 133 Dupontde N 3.60_. 133% 129 Du Pontdeb (6) __. Y% 5% Eastern Roll M1l 172 156 Eastman Kod (6) 166 158 Eastman Kod pt (6) lOl 160 37 28% Eaton Mfg (2)_ 9% 5% Eitington-Schid._ 44% 30% Elec Auto L (1.20).. 17% 10 Electric Boat . ___ 5% Elec&Mus In(b24c). 6% Elec Pw & Lt _____ 29Y; Elec Pw & Lt $6 pf_. 32% Elec Pw & Lt $7 pt_ 4 433 Elec Stor Bat (12) 112% Endicott-Joh pf (5) 100s 45% Eng P'S $5 pf (14) . 5% Equit Office Ballc_. 11 ErleRK .___ 16 Erie R R 1st pt 23% Evans Products (1). 4% Exchange Bu 2% Fairbanks Co 10s 34%, Fairbanks-Morse__. 3 31% Fajardo Sugar (2).. 7 18% Federal Lt & Trao.. 4 2!3 Fed Water Sve (A). 21 201 Fed'd Dept Stra(1)_ 38 F14 Phoe F 1(11.20). 2474 Firestone T&R 1.20. 100 Firestone pf A (6)._. 40 First Nat Strs(2%). 241 Foster- Wheel 25 Freeport-Tex: 35 118! Freeport-Tex pf(6). 108 120 53's 31'3 FullerCo2dpf. ... 60s 37% 123 8!3 Gen Am Investors.. 9% 63 42y Gen Am Trans(1%) 48% 34% 21 Gen Asphalt(b25c). 224 14% 10% Gen Baking (60¢) . 1% 50 141 Gen Baking pf (8).. 147 11% T4 153 -— 11% 3% 24%, 70'¢ Gen Cable Df - —aemee 911, 537 Gen Cigar (14) .. 583 3415 Gen Blectrie (1) .- 38'n 33% Gen Foods (1.80) .. 417 7 Gen Gas & Kl (A) . 24 59% Gen Mills (3)_____. 2 65'z 5374 Gen Motors (12) ___ 684 1224 118 Gen Motors pf (5)-. 122 8% 5% Gen Outdoor Adv__. 40 18% Gen Outdoor Adv A. 53% 38 Gen Print Ink (12)_ 110 <105 Gen Print Ink pf(6) 35 Gen Public Service.. 50 325 Gen Ry Signal (1).. % 2 Gen ty & Otil_ 261, Gen Real&U pf ww._ 33% Gen Refrac (1).... 3213 Gen Stl Casting pf_. 17 Gen Theatre Equip.. 30% Gen Time Instr'm't. 13% Gillette Saf Ras(1). 74 Gillette S R pf (5)-. 6% Gimbel Bros_ 69 Gimbel Bros pf(az). 39% Glidden Co (2) - 52% Glidden cv pf (413). 674 Goebel Brw C(120¢) 12% Gold Dust vte (60c). 13% Goodrich (B F) _._ 78 Goodrich (B F) pf.. 21% Goodyear T&R._.__. 87 Goodyear §7 pf (4)_ 77 Gotha Silk H pf(7). 2 Graham-Paize 1% Granby C (2d stpd) 25 Granite City Su (1) 281 Grant (W T) (1.40). 32% Grt Northern pf 16 Grt North'n Ore(1). : 31 Grt West Sug (2.40) us’, 136 Grt West Sug pf(7) 22 Green(HL)Co (1) 5'- 5013 Green Bay & W (5)_ 80% 48% Greyhound C'p 3.20 9 33 1% Guantanamo Sugar 17 39 26'; Guantanamo Sug pf 40s 48 28% Gulf StatesSteel _. 2 361x 33 Hack W pf A(1%). 200- 21% 14 Hamilton Watch __ 119 109 Hamilt'n W pf 383 200. 41% 304 Harbison Walk(t1) 16% 12 Hat Corpof Am(A). 9 4% Hayes Body 5% 133 1082 Hazel Atlas Gl "5). 1085 110 84 Hercules Pow (5)... 110% 80 71 Hershey Choc (3).. 70 44% 30% Holland Furpace 35% 112% 108 Holland Furn pf (5) 70s 109 15% 9 Holland & Son (50c) 62 16% 19% Holly Sugar (2)_.__ 10 35% 397% Houd-Hersh A(3%) 1 39% 224 Houd-Hers (B)1%_ 17 234 54% House Fin (A) (13). 2 65% House Fin pf t3%_. 2 6% Houston Ol vte.... 16 48% Howe Sound (13)_.. 6 3% Hudson & Manhat.. 8% Hudson & Man pf__. 13% Hudson Motor Car.. 1 Hupp Motors. ... 18% I[1linois Central ... 30 Illinois Cent pf (A). 25% Indus Rayon (1. H‘l 106 lnunoll-mnfl('t) 114% 90 Inland Steel (3).__. 13% 6% Inspiration Copper— % 5% Insur Sh Md ct 18c.. 18% 11% Interboro R T (d)_. 5% 2% Intercontl Rubber.. 15% 9% Interlake lron ____. 5% 3 IntAgricultural. ... 185% 160 Int Bus Mach (16)_. 49% 35 Int Cement (134)_—.. 90% 56% Int Harvester 1.20__ 5% 2% Int Hydro Elec (A) 54% 43% Int Nickel(Can)1.20 129% 125% Int Nickel pf (1) 7% 3% Int Paper & Pw(A)_ 2% Int Paper & Pw(B). 1% Int Paper & Pw(C). 20% Int Paper & Pwot.. 75 3% Int Ry Cent Amer. 3 19% Int Ry C A pf.._.. Int Silver pf - cceeee 1214 Int Tel & Tel .. 10% Interstate Dept Str_ 82 Int Dept Strs pf(7). 9% 26 Island Creek (2) . 123 113 Island Creek pf (6). 10s 79 58% Jewel Tea (14)___.. 1.79 129 88 Johns-Manville(2). 123\‘ 121% Johns-Manv pf (7). 20s 122% 5% Jones&Laugh7%pf 7008 42% Kalamazoo Stove(1) 1 19% Kans City South p1. 17 Kaufman Dep 8 (1) 27 Kayser(J)& Coa%5e 18 Kelsey-Hayes (B) . 25% 14% Kelvinator (150c) .. 32 28Y% Kennecott C (1.20)_. 45 17% Keystone StI&W(2) 7 20% Kresge (S8) (1) __ nox 101% Kresge (88) pf(7). 10s wgt 102% 102% 28 19% Kroger G&B (1.60). 14 19% Lambert Co (3) ___ 6 20% 16% 12% Lee Rub&Tire (50c) 3 13% 23 15% Leh Por Cmt(a25¢). 1 18% 94% Lehigh Por C pf(4). 10s 95% 2 Lehigh Valley Coal. 5 2 9% Lehigh VaiCoalpf. 1 9% 8% Lehigh Valley R R 89 Lehman Corp (13)_. 12 Iehn& Fink (1%).. 37% Lerner Stores (2)... 47% Libbey-Owens G(2) 7 Libby McNeill & L. 25 Life Saver (1.60).__. 97% Ligg&Myers B(14)_ 19 Lily Tulip Cup(1%) 5 4% 7% 57% Louls & Nash (a2).. 85 22% Ludlum Steel (1)... 324 29 MoCall Corp (2).oee 163 163 5 4 4 Eseee"wer grx L ++1+0 14 - 6106 103% 1 9% 9% 9% 2 102% 101% 101% +l1+1+ +1+ FEFER FEE 1% 31% -4 40% Macy (R H) Co (2). 34'% Magma Copper (3). T% Manati Sug pf (d)_. 8l5 Marine M1dld (40¢c). 1% Market St Ry . __ 214 Market St Ry 24 p 18% Market St Ry pr pf_ 41 Marlin-Rock (12).__. 11% Marshall Field & Co 27% Mathiescn Alk 1% . 160 153% Mathieson pf A (7). 54% 43% May Dept Strs (2).. llOVn 103 Maytag 18t f (6)__ 12% Mead Corp. 67 Mengel Co. 50 Mengel Copf. 40% Mesta Machine (l). 5% Miami Copper 17% Mid-Cont Pete a40e 21% MidI'd Stl Prod (1 65 Minn-Honey R 1134 109% 106% Minn-Hon R pf (6). 2% 6'3 Minn Moline Pwr. ’ISV- 574 Minn Moline Pwr pt 16% Mission Corp - 5% Mo Kans & T 14% Mo Kans & Tex p: 214 Missouri Pacific(d). 3% Mo Pacific pf(d) .. 20% Mohawk Carp (1)... 79 Monsanto Chem(t1) 3% Montg’y Ward(80c) 44 Morrell J & Co 2.40_ 60% Morris&Essex(3%). % Mother Lode 28% Motor Products (2) 15% Motor Wheel (1) ll% Mullins M Munsingwear al ll Murray Corp 15% Nash Motors (1)... 12'; Nat Acme Co. a1y 31w 21's Nat Cash Reg “(50¢) 284 21 Nat Dairy 2(1.20) 112% 108'4 Nat Dairy P pfA(7) 112 1073 Nat Dairy P pfB(7) 15% Nat Dept Stores __. Nat Distillers (2)_. Nat Lead (50c) _. Nat Pwr&Lt (60¢) - 574 Nat Steel (13%) 19’6 Nat Supply Co Nat Tea (60c) tomas (180¢) isner Bros (1) wbherry J J(1.60). 9 Newport (ndustries 321 N ¥ Alrbrake 27% N Y Central RR_ 17% N ¥ Chicago & St L. 36's NYChi&StLof 3% N ¥ Dock - 10% N Y Dock pf. . 1 NY Investors (d).. 3 NYNH&H() ... 7% NY NH & H pf (d) _ 4'x N Y Ontario & West 9's N Y Shipbuilding 7313 57 N Y Shipbldg pf .. ¥3 N Y Steam pf (6) ... 107'3 934 N Y Steam 1st (7). 265 210 Norfolk& W (18)__ 10% 6% North Am Aviation. 32t 234 North Am Co (1) 59 523 North Am Co pf(3)_ 105'3 98 North Am Ed pf(6). 36% 244 Northern Pacific __ 57 51 Northwest Tel (3)_. 415 2 Norwalk Tire&Rub. 17'3 12% Ohio O1l (50e) 54% 24'x Oliver Farm Equip. 25% 17% Omnibus Corp vte_. 14 8 Oppenheim Collins_ 32% 24% Otis EI 20% 123 Otis Steel .. 951 727 Otls Steel pr pf_. 53 47 Outlet Co (12) 164 128 Owens-111 G 2@ 2% Owenc Il G.July 24 17% 13% Racific Am Fish (1) 17 95 Paclfic Coast 1st___ 39% 30% PacificG& E (l%). 567s 47% Paclfic Ltg ( 19 14% Pacific Mills. 130 118 Pacific Tel&Tel(6). 13 67 Packard Mot (a25¢c) 67 ParaffineCo (2).__. 7% Paramount Pictures 59 Paramount 1st pf.. 8% Paramount 2d pf.. 3 Park Utah _ 40% Parke Davis 23 Parker Rul 4's Parmelee Transp't.. a e 2 - S T ) NG RN ET R NS — RE Rt 114 Peerless Motor. 6412 Penick & Ford (3) €9 Penney (JC) (13).. 31x Penn Coal & Coke. 4'; Penn Dixie Cement. 28% Penn Dixie Cpf(A). 17 Penna Glass ctfs 28% Penn Raliroad (al). 30 Peoples Drug(t1)._. 110 Peopes Drg pf(6%). 38 Peoples Gas Chit 25'% Pere Marquette 643 Pere Marg pr p! 16 Pet Milk (1) = 12% Pet C'p of Am a25c_ 10's Pfeiffer Brew(1.20). 25% Phelps Dodge as0e.. 45'3 Phila Co 6% pf (3)_. 1% Phila & Read C&1_. 66 Phillip Morris (1)_. 384 Phillips Petrol(t1). 133 Plerce Petroleum... 7' Pitts Screw & Bolt_. 49 PittsSteelpf ___._ 3 Pitts United Corp.. 58!4 Pitts United of 11% Plymouth Oil (1) 12 Poor & Co (B) 1% Porto R Am Tob(B) 6% Postal Tel&C pf(d). 2% Pressed Stl Car (d). 18 Pressed St1 C pf(d). 49 40% Proctor&Gam(1%). 122'; 117% Proc & Gam pf (5) .. 48% 39 PubSveNJ (3.40). 109% 103% Pub Sve N J pf (5) 123% 113% Pub Sve N J pf (6) .. 48% 367 Pullman Inc (1%).. 24% 16% Pure Ol - 118 91% Pure Oil pf (6) 133% 103 Pure Ofl pf (8)_. 17% 9% Purity Bakeries 400 14% 9% Radlo Corp 79% 68' Radlocu 1st pf 3%- 1082 8215 Radio Corp pf (B)_. 9% 5 Radio-Keith-Or(d). 18% 11 RRSecIlCent .. 287% Raybestos-M (1%). 1% Reis (Robt) 184 Remington-R (60c). 47 Reo Motor Car_____ 16% Republic Steel = 784 Repub Stl pf A (6) 90 ReversC& Bpf ___ 223 Reynolds Met (1) 117 105 Reynolds M pf(5%) 25 Reynolds Spr'g new. 50 Reynolds Tob B (3) 30 Safeway Stores (2). 22% St Joseph Led(80c). 1% St L-San Fran (d) . 2% St L-San Fr pf (d) 11 Savage Arms 38% Schenley Dist a75c. 974 Schenley D pt (5%) 1% Schuite Retall Strs. 531 Scott Paper (1.80) . 7 Seaboard Alr L (d). 30% Seab’d Oil(Del) (1) NEW YORK COTTON By the Associated Press. NEW YORK, July 7.—Cotton was' reactionary today following an open- ing advance. Pressure came mostly from realiz- ing and liquidation in preparation for tomorrow's Government acreage report. October sold off from 11.87 to 11.83 and was holding around 11.85 in the midafternoon when the market was net 5 points higher to 5 lower with late months relatively easy. hmum closed very mudy. 7 higher to lower. Low. 1258 Bleachable cottonseed oil futures closed easy. July, 9.71; September, 9.66b; October, 9.55b; December, 9.49; January, 9.49b. Sales, 270 -contracts, including 6 switches. b—Bid. New Orleans Prices. ORLEANS. July 7 (®.—Forsing ] VA 6 2 32 42% — % 14% Shell Onton O . .. 120% 110% Shell Un O pf (5%)- 14 9% Siiver King (40¢) 19% Simmons Co-aeeeeen 22 Snider ng 121 Socony-V O11 40c)- 4 SoAmG &Pa2lc .. 26 So Porto R Sug (2). 25 South Cal Ed (1%). 231% Southerr Pacific.... 12% Southern Rallway.. 19 Southern Ry pf.... 7% Spalding (A G)..- 63% Spalding(AG)1st pt 109 101%; Spang Chal pf $57 9% 5% Sparks-Withingto 36% 29% Spencer Kell (1.60). 23% 15% Sperry C vte b2sc_... 53% 44 Spicer Mfg pf (3)_. 7% 63 Splegel-May-8 (3)._. 21% Square D (B) (50c) 14% Stand Brands(¥0c). 10 Stand Com Tobacco. 5 Stand Gas & El (d)_ 9’ Stand G&E $4 pf (d) 243 Stand G&E $6 pf(d) 26% Stand G&E $7 pf(d) 2 Stand inv Corp.. 35% Stand O of Cal ( 323 Stand O1l of lnd('l) 25 Stand Oilof Kan __ E1% Stand Oflof N J t1._ 243 Starrett (L S) 1.40_ 65 Sterling Frod (3.80) 2% Sterling Secur (A)_ 8'a Sterling Secur pf__. 16'; Stewart Warn(50¢). 14% Stone & Webster 9% Studebaker Corp. 126 118 Sun Ofl pf (6) 40'; 27 Superheater (50 6% 3 Superior Ol 14% 9% Superlor Steel 297 23 Sutherl’d Pape 2: 20% Swift &Co (1) 28Y% Swift Inul Ltd (2) 5% Symington A (d).. 5% Tennessee Corp..... 28% Texas Corp (1) 33 Texas Gulf Sul - T3 Tex PacC& O alic. 9% Tex Pac Land Trust 337 Thatcher (1) 3% Third Avenu 8% Thomp'n(JR c) 24% Thompson Pa3le.__ Thompson Starrett. 14% Tide Wat Asso 6Uc_. 100\ Tide Wat A O pf(6). 12'» Timken-Detroit. 56 Timken R B (12) 11 Transamerica t40c. 147 Trans & Westn Air_ 10 Transue & Wil €0c. T's Tri-Conti Corp - 93 Tri-Cont) C pf (6) 47% Truax-Tra Coal __ 22'5 20th Cent Fox Film. 314 20th Cen Fox pf 1% 65% TwinCity RT pf__. 27« Ulen & Co = « Und-Ell-Fish (3)__. 3 Und-Ell-Fish p? (7) s Union Bag&Pap (2) + Un Carb&Carb 2.40 % Union Ofl of Cal (1) 32 Union Pacific (6) - 90% Unfon Pacific pf (4 22% Un Tank Car (1.20). 20% Unitea Alrcraft 13 United Alr Lines vtc 24% United Bise (1.60) - 113 United Bisc pf (7) . 68 United Carbon 2.40. 5% United Corp - 40% United Corp pf(3) 10% United Drug . .. ... 15 United Dywood (al) 93 United Dyew pf (7) 4'; United Elec Coal .. 32'a UnitEng & F t1% 66!y United Fruit (3).._ 14% United Gas lmp (1) 109 United Gas 1 pf (5). 12 6'a United Paperb'd(d) 19%» 10 U S Distributing ot 20 13 US& For'n Secur.. 39% 241, U S Freight (1)_ | 110! 80% U S Gypsum (2) 169% 160 U S Gypsum pf (7 14'¢ 8% U S Hoffman _ 59 33% U S Ind Alcoho! 6% U S Leather vic..._ 10% U S Leather(A)vte. 21'; USPipe & F (1%)-. T% U S Realty & Imp__. 16 U S Rubber.__ U S Rubber 1st pf U S Sm & Ref (a8) 46% U S Steer ___ 512 U S Steel Df (2) _. 5 United Stores (A) .. 57% Univ Leaf Teob (13). 153 Univ Leat T pt (8). 1 Univ Pipe&Rad (d). 132 Univ P&R pf (d) ... » Utll Pwr & Lt (A) Vadsco Sales Corp... EFFEs SNk & Y & FEFE (I U S SREET Vick Chem (12).... Va-Car Chemical... Wabash () .. __. Walgreen Co ((2)._. Walker (H) (2)__.. Walker (H) pf (1).. + Walworth Co.__ 107 n Ward Baking (A).. 2!y Ward Baking (B)... 9% Warner Bros Plo... 4% Warren Bros 19'; Waukesha M(t60¢). 33% Wesson O&S(150c). 78 Wesson O&S pf (4). 91% West Pa Elee (1)A. 87 West Pa Elec pf(6). 8ls Western Maryland. 2 Western Pacific.__. % Western Pacific pf_ 721; West Union (a2)__. 34% West'gh'se A B (1). 941; Westingh'se El (4) _ 225 Weston Ei 1 (a2bc)_ 19% Westvaco Chlo t40c 21's Wheeling Steel. 18% White Motor_ 14 White Rk M S(1.40) 3% White Sewing Mch. 16 White Sew Mch pt... 6% Wilson & Co (50¢). 44% Woolworth (2.40)_. 234 Worthington Pump. 56 Worth Pump pf(A). 62% Wright Aero.______ 66 Wrigley W ir (13)_. 33% Yale & Towne (60c) 8% Yellow Truck 8315 Yellow Truck 424 Young Sp& W (3) 68 41% Youngstn Sheet & T 118% 105- Youngs S&T pf $4% 27% 11% Zenitb Radio. _. 9% 57 Zonite Products. 11:00 A.M.. declarations not inciuding extras. year. bPaid last year. or being reorganized. Waldorf Syst (80c). 96 West Pa Elec pf(7)." sUnit of trading less than 100 shares. IAccumulated dividends. d Companies reported in receivership xEx dividend. 17% - % 119 More Reduced During Late Trading. Stock Averages lnd\.n Klu Net change. —9 --7 Today, close 844 340 49.0 629 Prev. day .. 853 347 492 635 Month ago - 329 349 480 621 Year ago .. 622 239 334 454 39.7 508 6438 4 302 434 557 1935 high... .3 312 44.7 561 1935 low..... .5 185 21.6 348 1932 low.... 175 8.7 239 169 1929 high...146.9 153.9 184.3 157.7 1827 low.... 51.6 953 618 618 (Complled by the Associated Press.) 18 60 Util Stks —2 —6 BY VICTOR EUBANK, Assoclatea Press Financial Writer, . NEW YORK, July 7—The stock market today put up a generally une successful battle against adverse news principally concerned with the drought and steel labor situations. While extreme losses of 1 to 3 or more points were reduced in many instances during late dealings, th close was heavy. Transfers approxi- mated 1,100,000 shares. Gains soared about the limit per- mitted for a day’s trading, but wheat and corn reacted in the afternoccn. Stocks met some support as rain was reported in some Canadian crop areas, Steels, farm implements and mo ,.;tors were among the main s %! el losers. At the same time, several oils, distilleries, mines and specialties held gains of as much as a point or more. Outstanding on the decline were United States Steel, Bethlehem, | Youngstown Sheet & Tube, Inland | Steel, Nationa! Steel, J. I. Case, Deere, International Harvester, Caterp: Tractor, Oliver Farm, Johns-Manville, % % ‘. W General Motors, Chrysler, American | Smelting, Sears-Roebuck, Corn Proc- | ucts, Westinghouse Air Brake, Freee * | port Texas, Texas Gulf, Holly Sugar, .' Santa Fe, Union Pacific, Norfolk & % |July 1.05%a3;, -1% -1% —-4% 26% — % 5% — 4% Approximate Sales of Stocks on the N. Y. Stock Exchange. Dividend rates as given in the above table are the annual cash payments based on the latest quarterly or half-yearly tAnnual rates— a Paid this % (4015; No. 4, white. 37!,a38! within s few points of the 12-cent level new crop months gained {ro points at the obening of the corton market ning cal July position lholwed ldvlnls‘e‘l new ¢rop mo ac frane Ana speculative interests encountered little hedge or other selling. Cotionseed ol futures Gpened steady. July, 9.45b: September. ctober, 9. ; De ember. 9.19b; January, 9.19b. Liverpool Quotations. LIVERPOOL. July 7 (#.—Cotton. 20,000 bales. including ‘300 American. Spot mod- erate business done: prices 4 points higher. Quotations, ln ence: American smet 00d middling. 7.9 o dling. 7#!"“! rict mldd] low 3 ;uaod urfl(nlry 8. 4 tures closed qulet and nndy Juiy. 6.7 October. 6.39: Decem| 7: January, Marc! 6: BETHLEHEM GETS ORDER. NEW YORK, July 7 (#).—Beth- lehem Steel Corp. has received an or- der for 4,800 tons of structural steel from New York City for its West Side elevated highway. It also received contracts for 3,200 tons of structural shapes from Sioux City, Iowa, and 3,000 tons from Hawall. \ LARGE TRUCK EXPORTS RAISE AUTO SHIPMENTS BY the Assoctated Press. Aided by truck exports, which had the highest valuation since August, 1935, May shipments of automotive products remained at the even level which has characterized this group since the beginning of the year. Western and Electric Auto-Lite. Steady to a point or so improved were Chickasha Cotton Oil, Wesson | Oll, Standard Oil of New Jersey. Cone | solidated Edison, Alleghany Corp. pre- ferreds, Jones & Laughlin preferred, Underwood-Elliott - Fisher, General Foods, National Dairy, Hiram Walker, Distillers Corp.-Seagrams, Ohio Oil, Dome and McIntyre Porcupine. CHICAGO GRAIN BY JOHN P. BOUGHAN, Associated Press Market E¢itor, CHICAGO, July 7.—All of today's | sweeping gains of wheat prices were more than wiped out in late dealings. Heavy rains reported at a number |of places in Saskatchewan, Canada, | notably around Regina, led to a gene | eral selling rush and quotations broke | fast. The tumble carried the entire wheat market to well below yester- day’s finish- and bearishly influenced all other grain to some extent. Whe. smashed downward almost § cents from early tops, but reboundsd about a cent just at the last, closing excited, 1¢a34 under yesterday's finish, September 1.053,a 1.06, December 1.067:a1.07';; corn, 2°:a27; up, September 773,a78, De- cember 731;a34; oats at !z decline to 5 gain, and provisions varying from | 20 cents setback to 15 cents advance. JulVHEAT— Open. Hish Luly ] 11 10.80 1133 10:90 11 1097 1120 1065 1310 1287 Chicago Cash Market. Cash Wheat—No. 1, red, 1.11al.14; No. 2, red, 1.10a1.14; No. 3, red, IOBA 1.08% ; sample grade, red 1.05a1.05' ;! No. 1, red, tough, 1.07%al.10; No. 2. red, tough, 99'%a1.10; No. 3, red, | tough, 1.0612a1.07'2; No. 1, hard. 1.15a 116; No. 2, hard, 1.14a1.15; No: 1, mixed, 1.0812a1.12; No. 2, mixed, 1.08a 1.09; No. 1, mixed, tough, 1.08a1.09' No. 2, mixed, 1.08a1.09; No. 1, mixed, + | tough, 1.08a1.09!2; No. 2, mixed, 1.06a 1.08':; corn, No. 2, yellow, 83':a85 No. 3, yellow, 83a84: No. 4, yello 81a81 No. 5, yellow, 81!3; No. 2, white, 95: No. 4, white. 93!3; No. 5, white, 90; sample grade, 56a80; oats,, No. 1, feed, 39'.; No. 3, white, 38,3 2; sample grade, 35%a38!2; no rye; barley, No. 3, Illinois malting, 90: feed, 35250 nomi- nal; malting, 55294 nominal: timothv seed, 4.80a5.00 cwt.; clover seed, 10.50 al16.00 cwt. Liverpool Wheat Prices. LIVERPOOL. July 7 /P.—Wneat futures closed strong. Prev. Hish close. 881, R 263, 98% mvmfin_bflfl LAID TO TAX BILL American Water Works Declares Involved Provisions Make Action Inadvisable. By the Assoctated Press. NEW YORK, July 7.—Although re- porting a large increase in earnings for the 12 months ended May 31, American Water Works & Electric Co. stated in & letter to shareholders thai no action on a common stock dividend was taken at today's meeting of the board because of the new Federal tax The Commerce Department said the | bill. total valuation for the month was placed at $23,495,164, slightly below the April figure of $23,947,444, but an increase of 21 per cent over the corresponding month of last year, when the shipments were valued at $19,338,159. ——e ERROR CORRECTED. NEW YORK, July 7 (#).—Through an error, the Oldetyme Distillers Corp. was listed in an Associated Press dis- patch of June 16 as controlled by Dis- tillers Corp.-Seagrams, Ltd., of Can- ads. The Canadian concern has no connection with Oldetyme Distillers and the Associated Press is glad to make this correction. The letter, signed by H. Hobart Porter, president, said directors con- sidered dividend resumption, but de- cided that “the involved and ‘complex provisions” of the bill made action inadvisable till effects of it could be ascertained. Consolidated net income for the 12 | months was $4,015,413, equivalent after preferred dividends to $1.49 a share on the common stock, against $2,698.- 950, or 86 cents a share, for the 12 months ended May 31, 1935. The last dividend on the common stock was 20 cents, paid May 15, 1935. Arundel Corp.—Company has re-. ceived two Government contracts to- taling about $845,000. ) )