Evening Star Newspaper, July 7, 1936, Page 19

FINANCIAL. THE EVENING STAR, WASHINGTON, -D. C, TUESDAY, JULY 7, 1936. CURBLIST MOVES |{NEW _YORK CURB MARKET|D|V|DENBS CHEER l Combined Deficits of the Government of the Last Six Years Over FINANCIAL s i A—l9 FIRMS CHARTERED - Stock and BN~ Dividend Rate mfl(i fll:l. Low. Close. Lit Brothers..... 4 Lockheed Alreraft 1 T K Lone-Star Gas 40 1 l}v. 1 By private wire direct to The Star. Stockanc Salee— Dividend Rate. Add 00. High. Low. Close. Acme W vto (2).. 276842 41 42 T0 LOWER LEVELS Some O0il, Utility, Specialty Issues Gain, but Other Groups Decline. By the Associated Press. NEW YORK, July T7.—Selling forced most Curb stocks lower today, although some oil, utility and spe- cialty shares were steady to higher. The mining group retreated frac- National Gypsum Royal Typewriter each dropped about | 2 points. Setbacks of a point or so| were dealt New Jersey Zinc, Mason- ite, Dow Chemical and American Gas & Electric. Koppers Gas & Coke preferred moved against the trend for a gain of more than 2 points and Horn & Hard- art and Sonsolidated Gas of Baltimore improved a point or so. Sharp Lull Seen In New Business At Steel Plants BY the Associated Press. CLEVELAND. July 7.—Daily Metal Trade says “opening of the new quar- ter has been accompanied by the ex- | finished steel | pected slump in new business,” as most buyers “covered their requirements” at last quarter's prices for “at least a short distance ahead.” It reports “some quarters predict a certain amount of covering against pessible labor disturbances, but no such business has appeared as yet and little is expected in the near future.” - LOADINGS OF WESTERN CARRIERS ABOVE 1935 | | Central Pwr& Lt EY the Associated Press. CHICAGO, July 7—The Chicago, Rock Island & Pacific Railway Co. reported loadings last week totaled 25420 cars, compared with 18,709 the corresponding week last year and 26,500 cars the previous 1936 week, in which there was one more day of | business. | The Chicago, Milwaukee, St. Paul Pacific reported revenue Cars week totaled 25,565, compared with 19,540 the corresponding week last year and 28,752 the previous 1936 week. — e BONDS ON THE CURB MARKET — DOMESTIC BONDS. Hi Alabama Pw 1'2s Alabama _Pow 106 2 1001 | tore Aero Supply (B) 1 Ala Pwr pf (6) ... 4 Alabam Pw pf(7) 230 Alum'n Coof Am 800s 3% 3% 3% % 71w T4 81% 80% 80% 25% 1224122% ‘coluPiA(uu i H Aluminum Co of Am pf (1%) IODIHG llS'AIlS“ Alum'n Ltd ... AmCitiesP& L Am City P&L (B) Am Cynam A 60c_.175s 34 Am Cynam B suc Am & For Pw ww Am G&E (1.40) ... 14 33% 3 4 3% Am Fork & H (1)-150s 19% 10 39% Am G&E pf (6).... 1008 uxs. ma. usu Am GenCorp ___. 20 Am Gen C'p $3 pf. 508 Am Laundry(40c) 1 Am Lt&Tr (1.20). 5§ 22 Am L&T pf (1%). 1 | Am Mtz Co Am Maracaibo Am Superpower .. Am Superpwr pf_. Anchor Post (d) . Angostura (20e) . Arcturus Radio T. Ark NatGas ____ Ark Nat Gas (A)_ Ark Nat Gas cu pf Ark P & L pf (7)- AssoG& E AssoG & B Ass0G & E $5 p 3 Asso Invest(t1 % )5008 Atlas Corp (ad0c) 18 Atlas Plywood. 1 Austin Silver Auto Product Auto Vot M(150¢) Babcock&W1l (1) Baldw L bd rts(d) BlissCo (EW)_ Bl 42 19 208 14 14 Bower Roll B (1) Bridgeport Mach Brili Corp (A)-. Brill Corp pt Brown-Co pf. Brown Fence Wire (A) (2). Brown Forman Bunker H&Sul(t2 125- Butler Bros . ___ Cables&Wire(B).. Can Indus Alco A Can Marconi . Carlb Syndicat, rnation Co (1)- Cent H 8% 8% 33% 22 228, Celanese I‘ll Df('l)l"fil 103'a 103u 10!‘4 vic (loc) 1 72 5 65 Electric 7% pt. Centril Pipe (40c) Service _ _ Service pt. Citles Service (B) Cities Sve Pwr & Light $6 pt City Aut Stpg 60c Claude Neon L Clev Tractor _ Club Aluminum__ Colon O11 (4) 258 5 31 3 45 46 Columbia Gas & Elev cv pt (5) Columb Oil & Gas Commonw’lth Dis. Com’'with Ed (4) Com'with & S war Community Wat § 28 1 4 | Como Mines._ Consol Atrcraft. Cons Copper | Censol Gas of Corroon & Reyn__ Cosden U1l Me (d) Crane & Co Creole Pet ( Croft Brewing Crowley Milner _ Crown Cent Petr_ Crown Drug allc. Cus: Mex Mining - Dayton Rubber__. Derby U1l & R 13 Derby Otl&Ref pt 2258 b2 Detroit Gasket pf 19% 13w 19% 324 115% 113 113 Detroit Gray iron Foundry (2uc) Dictograph(alsc) Doenler Die Cast_ Dow Chemical (2) Driver Harris (1) Duke Power (3)__ Eastn G&F Asso_. Eastn G&E pt (A) (6) .. ___ 1001 Easin States Pdr_ tiasy Washing Mach B (150) __. Eisler Elec Corp Elec Eond&share Elec BA&Sh pf(5) Elec BA&Sh pf(6) El Pwr Associates El Pwr Asso (A). titec Pwr & Lt 20 DT (A) Elec Sharehold'g 12mp Dis Elec pt Emp G&k 6% b Emp G&F T% pt 15Us Emsco Derrick(1) 3 kquity Corp ____ Evans Wall Lead Ex-Cel-U A&Tool 25 k2 4l5s [ 1008 | Fedders Mfg(113) | Gen T&R pt A (8) Peop L & Phila Elec Un Unl & s A Ri b G'z 40, 3-‘? b sery s Whsh as L° West' New D1 s Penn 55 rrants. -wnnom waro fapts- n—m-. i When voun" p;anxu mena' e i iy LUty Ferro Enamel (1) Fliat rets (ay3’3¢) 21 First Nat Stores 1stpf (T)__ 1081131 1131; 4% Fisk Rubber = 2 | Fisk Rubber pf___175s FlintkoteCo (1). 9 Fla P & L pt 100s l-‘crd Motor Ltd (als 1-10c) Gen Electric Ltd reg (b37%c) 9 Gen Invest Corp.. 1 Gen Out Adv pt__ 258 Gen Tel «azbe) .. 9 Gen T'ire & Rub 508 7. 40s Georgia 'w pI(6) 75s Glen AldenC(1). 7 Goldfield Consol . 1v Grand Nat’ IFilm_ 58 10 Greal AUl & Pas Tea n-v (16) __ Great Northern Paper (1)._____ Greentield T & D_. Gulf Ofl (1) Hall Lamp (20c)_. Harvara Brewery Hecla Min (60c) . 11 Hires (C E)A(2) . 508 Horn&Hard 11.60_875s 3! Hudson BM&S(1) 15 Humble 011 (1)._. 20 Hu\ ler's of Del, 7% pf sip (d)_ Hydro Elec Secur. Hygrade Food Hygrade Syl (2)_ 1501 5 6 508 1 imp Ol Lta coupon (t50¢). . Ind Pipe Line 40c. 1 ins Coof N Am(2) 50s int Mining (6Vc). 1 intl Mining war.. intl Petro (t13%) Intl Vitamin t40c. interstate Hos (2) Interstate Power (Del) pt_ - Iron Fireman (1). Ital Superpwr(A) Jersey Central P&L 5% % pf_... Jersey Central P& L pf (6).... Jersey Central P&L (1) 208 Jones&Laugh St1 1508 Kansas City Pub Svevtcpf A . Ken-Rad T&L A. Kingston Prod.__ Kirby Pet (20¢) .. Klein (DE) (1) . Kleinert C loc). Koppers G Coke pf (C) Kress (S H) spec ot uoe),.,,.__. Kreuger(G)Br(1) Lake Shore M (4). 99 32 6 3 3 22 1 2 12 16% 2% 2y 4% 4% 64l ble 644 15% 1 9" 7008 107% 106 1 1107'4 1074 1071) 5 - 5% 334 6% 10% 4% 4% 8% 2768106 103% 104% 16% 72 2% 2% 16% 72 2l 2% 45 44 4l 64 6% 45 i 4 64 6% 64% 15 H 9% 11 s 46 64y 15 1 1y K 46 106 4 lL- 1 1y & 14% 154 3% 19% 128 18!, 321 lal,i 324 25 T4 5% 25 74 5% 59% 2 12% u.; U‘u \ | 6 10 4% 4% 20 8% 11% 11% 1 22% 22% 22% li b_’"fi 58% §59% 6% 6% Long island Light 24 Long IsLtpf AT 10s 90 Long island Light | Novadel Ag «2) - 93, | 1\.1 & bl 1% 15% 91 3 ) Margay Oil (50¢). Maosnite Corp t1.200s .m Mass Util Asso. .. 6 MoCord Rad (B).. 1 Dh McWms Dredg(4) 50s 85 MerittChap & 8 D (A) Metro Edis pf (6, 9% 85 2 65 52 62 258100% 100% 100% 1 1% 1% 64 64 6% 3% 2% 2% K] K 98 Mid! St Pet-vto A. Middle States Petroi vte (B) .. Mohawk Hudsen M Molybdenum Corps 31 Montreal H Lt & Pwr(1%) Moore Dist (150¢) Mount Prod Mueller Bras: Nat Bella H Nat Fuel Gas (1)_ Nat Gypsum (A). Nat Invest war. Nat Leather ___ Nat Mfrs & Stores Nat Kubber Mach Natl Transit(75c). Neptune Met (A)_ 9% New Brad O al0c_. 3 N J Zinc (12)____400s 78 Newmont Min (2) 4 B2% New Mex&ArizLd N Y Telpt (63%4)-. Niag Hud Pwr __. Niagara Hudson Pwr (A) war __ 1% 2 6 5 4 7 3 2 5 1 1 1 1 8 1 1 124 & 1 | Niagara Hudson Pwr (B) war __ Niagara Shares (Md) B (al0c) Nipissing (azbe) North AmL &P _ North AmL&P pt 5505 5% Nor Am Util Sec.. 1 3 North'n N ¥ Utll pL(7) 12 5;107 North Pipe L % Northern St r(A) - ng (a2ic) .. s 1 115 4 52 w 12% 2% 4k b3la 3% 2% 4% 1063 10633 0c) 7 g 8 30 28'; 284 4 2412 24 24% 1 38 38!y 384 Ohio Edis pf (6)_. 758109% 109% 109% Oil Stocks Ltd (140¢) 3 i Okla Nat G Co pf350s Oldetyme Distil_. 6 Qutboard Motor B 2 Pacific Eastern__. 11 PacificG& E 1stpf (1%) 9 Pac Public Sve. 2 Pantepec U1l _ 71 125 NW 131y 29% 6 1% o™ 134 29 b% 1% 134 294% 5% 1% 3215 6y 5% 4 ~ 17% 1T 6% 3nlg Param t Motor: Pennroad (bz0¢) Penn G&E(A)1%. Phiia Co (80¢).... Phoenix Secur___. Phoenix Secur Corp pt A (3) Pioneer Gold Mine Ltd (80¢) .. Pitney Bowes P M (3ze) Pittsb'gn Forging Plusb'gh P G(12) Potrero Sugar Powdrell&Al 113 Premier Gold 1126 4 2% 2% Propper McCall'm 4 'y PubSve lnd pt___ 150s 22 Pub Sve Lnd prpf 508 50ty | Pub Ut Sec prpf 400s b | Pug S P&L §5 pf 52753 T6% Fuget Sound Pwr & Lt §6 pr 2508 34% Quaker Oats pf(6) 108 146 Raytheon Mfg 2 4 Raym'd Concrete 13% Red Bank __ 9 Relter-Foste: Reliable Stor 8 Bk 12 U'x 113’ 5% 5l 11 8% 8% 50 334 146 5% 164 tevnolds Invest_. Richfield Oil of Calit pt (d) Root Pet'm(aZic). Kossia Int Corp Royal Typewriter Rustless ir & Stl. St Anthony Gold . St Hegls Paper__. 12 St Regis Paper pf 130s 7. Salt Creek P(80c) 1 Schulte Real E(d) 1 Scoville Mfg (1)_. 50s Segai Lock &H___ 7 Seiberling Rubber 2 SelIndalicfaby% 508 Sentry Safety Con 1 Seton Leather. __ 2 Shattuck Den Min 14 Shawinigan Wat & Power (60c) Shenandoah . 2l 1 18% 1 P 2 Shenandoah pt 49% Sherwin-Will'ms of Canada Sher Willlams(4) Sonotone asc) __ Southn Calit Ea Pf(B) (1%) Southn Colo Pw A Southern Un Gas Southl'd Roy 4 Spanish&G: 6 49% 1258 16% 5081314 1 o 49% 164 16% cts Spencer Chain Stores (60c) | Square L Co PL A (2.20)200s Stand UL Ky (M) 6 Stand Oll Nebr .. 2 Stand 0il O (a2ie) 1 Stand P& L (B) 1 Stand P& L pt Stahi Myer Ine__ Sterchi Bros Strs Sterchit Bros 2d pf Sterling Br(aluc) Stetson (J B) 25, Stroock & Coa%ic 100s : Stutz Motor. __ 9 Sunray 011 Sunshine Min (2). Swan Finch_ ____ Swiss 011 1120¢) .. Talcott (J) 5% % part pf (23%)._100s Tasteyeastilel)A 6 Taylor Dist (b3).. 3 Technicolor inc 4 Teck Hughes t40¢ 5 Tenn Elec Pwr 1st pf (7). Products Gulf Prod. Tex P&L pf (7)-.. 108108% 108‘& 108‘6 TexonO& L (60c) 2 6% 64 Tob Prod Ex(10c) 3 2w Todd Shipyard (2) 50s 43% 431 Trans-Lux Daylite Plo Sn (20c) Tri-Contl C war... Tubize Chatl (A). Tung-Sol Lamp n Twin Coach(a20¢) Union Gas ot Canada (a10c) Onit Corp war . Unit Elastic(40c). Unit Gas Corp ... Unit Gas C war___ Unit Gas Corp pf_. Unit Lt & Pw (A) Unit Lt & Pw (B). Unit Lt & Pw pf Unit Milk P a5 Unit Profit Sha: DEC).- = oo 1 USFoll(B)(60c) 2 16% U S Playing Crd t.100s 28 2 50s L 3 50s 32 1 3 258 2 1'4 43% 4 2 5 113‘4 112'1 112% 87 Tw 6% T 2 8 8 8 15 62% 60% 61 25s 18 18 131% 1815 | €5 USLimespt._ 1.1% U 8 Radiator 2 3% Unit Stores 1. & Tnit Wall Paper_. 10 4% Univ Prod (1) IMI 23* 289‘ Utah Apex Utah Power & Lt of (32.331-3)__ 2’15! n% Uul Pwr & Lt 1% Utll Pwr & Lt pt. BWIZ'I Utility Equitie; Utility & Indus pt l Venezuela Petrol 1 1% Waitt&Bd A s15d 1.9 Wayne Pump 21 33% W VaCoal & Coke 2 2% Western Auto Supply (3) A 200s 43 (2). 13 30 Wright Harg t40e 13 8% 8% - Yukon Gold 9 2% 2 Dividend rate in dollars based on quarterly or semi-annual payment. nuai rate—plus extra. fAccumulated ds. aPaid 3% % 2% un- divi- NEW YORK BAR SILVER. NEW YORK, July 7 UP)—Bar sil- & ver steady and unchanged st ¢4%. A BUSINESS CIRCLES Extras and Resumptions of Several Companies Spur Optimism. By the Associated Press. NEW YORK; July 7.—Announce- ments of extra and resumed dividends by several industrial companies fig- ured on the favorable side of business news today. Dividend declarations so far this| month have been notable. June dis- | bursements established a record for re- cent years in increases, resumptions and extras. | Briggs Manufacturing Co., automo- bile body concern of Detroit, ordered an extra of 50 cents in addition to a | regular quarterly dividend of 50 cents, both payable July 30 to stock of record July 16. Ex-cell-o Aircraft & Tool Corp. ot Detroit announced a 15-cent dividend | on the common stock, the first smr:e1 1930, payable August 15 to stock of record August 1. Moore Drop Forging Co. declnnd: two dividends of $1.50 each on the| class “A” stock, in lieu of payments due in February and May, payable| July 10 to stock of record July 6.| The previous payment was $4, on October 31, 1935. Hawaiian Pineapple Co., Ltd., or-| dered an extra of 25 cents and regu- lar quarterly of 25 cents, payable July 31 to stock of record July 21. National Liberty Insurance Co. de- clared an extra dividend of 10 cents| and a regular semi-annual of 10 cents, payable August 15 to stock of record August 1. Tobacco & Allied Stocks, Inc., an investment company specializing in tobacco securities, declared a dividend of $1 on the capital stock, payable Au- gust 3 to stock of record July 20. On December 31 last a payment of $4 a | share was made, LIMIT SATISFACTORY T0 GRAIN TRADERS Prevent as Many Heavy Losses as Sensational Gains, They Say. Ev the Associated Press. CHICAGO, July 7.—Board of Trade | circles evinced little interest in discus- sion over possible removal of the 5-cent limit for a day’s loss or gain in wheat | quotations. \ Soon after all grain prices bounded to the top stretch allowed for a day's trading—barring any further advance —a Board of Trade authority com-i mented: “While the limits might seem to work a hardship in a ‘weather market’ | like this one, they have worked out quite satisfactorily. They have pre- vented as many heavy losses as they have sensational gains. All in all the traders seem to be satisfied.” | G His statement was prompted by the ! recent action of the Winnipeg market in increasing the day’s trading limit in wheat. But Winnipeg, stretching the possible oscillation to 5 cents, only came 1n line with American exchanges, | it was pointed out. Trading limits were established sev- | eral years before the depression, and the 5-cent bounds were set up during the days when prices receded daily a 3| few years back. INVESTING COMPANIES NEW YORK. July 7 uP.—New York Securlly Dealers' ‘Attoctation (Noon quotations.) Admin Fd 2nd Inc Am Gen Inc. Am Business Shrf Am Ins Stock: Basic Industry Broad St Inv. Buliock Pund ° Gen Investors Tr Group Sec Aer Group Sec Automob p S Group Se- Tnvest bt T N Y Con Investors Fd C Inc Investors Pund of Am Keystop Cust Pund B Mafor Shrs Corp. Maryland Fund _ Mass Invest Tr Mutual Invest Plymouth Pund Ine _ Ouarterly Income Sh_ Selected Am Sh Selected Am Sh Tne Selected Cumul 8h Sclected Tncome Sh Selected Tndus cv pf_ Spencer Trask Pund_ Stand Am Tr Shrs m Tr D Sunervised Shre Trustee Stand Tnv 0 Trustee Stand Tnv D. Trusteed Am Bk B Trusteed Tndnstry Shr Trusteed N ¥ Bk Shrs. FOREIGN EXCHANGES. NEW YORK. July 7 (.—Pores change frregular fers Others in cents_ o0 Dritain Great Britain 214 02%a: 60-day «lifmi‘"adnv” cables, i ables. 7.87. P fan ex- in dol- cables. ance, de< Italy. d:- Tonto. 2n ‘m‘ Bhlnlhlé %0 3 ity. Montreal in 32457 85 .92%: New York in Mon- Few > yare "u] 100.07H. n—Nominal. NEW YORK SUGAR. NEW YORK. July 7 (P.—Ra: quiet again erly toda l';r'f' 1 o neart iahie pud pr S AT R T POIn Futures the July position o dediine of 3 POInL unaer Haglastion atier issuance of 50 additional notices. Other- wise the market was genera'iy higher cn trade and commission house buying of new-crop deliveries, Jll ! lnld at 2.75. March advance 52. The ceneral markes af dly 'll 1 point lower on July and 1 higher on later deliveries. was ul‘lch\lfled at 5.00 for fine l’rlnllllud ars were l'llhhle it 4.75 0 4.85. Wll m'tll against Sontracts continued fair RUBBER FUTURES. W R R A from mid- to 2 — | Security Dealers’ 19 Billion Dollars 1923 — 310,000,000 1924 — 505,000,000 1925— 251,000,000 378,000,000 DERCIT 1931 —$ 903,000,000 1932 — 3,153,000,000 1933 — 3,066,000,000 636,000,000 — 1934 — 3,966,000,000 399,000,000 msoooooo———*m- 184,000,000 1935 — 3,575,000,000 4,800,000,000 Radlo Time Sales Rise 250 Per Cent Above 1929 Mark By the Associated Press. CHICAGO, July 7.—The sale of time by radio stations, C. H. Sandage, chief of the Division of Cn—nmumca- Every State in Mid-Conti- | consumption, Louis E. Kirstein, presi- tions of the Bureau of Census, said today, showed a 250 per cent in- | crease since 1929. Speaking before the National Asso- ciation of Broadcasters in the group's DALY OIL QUTRUT OFF 75,666 BARRELS nent Reports Drop Except for Louisiana. fourteenth annual convention, he re- | By the Associated Press. ported a 90 per cet increase in five TULSA, Okla, July 7.—A decrease years in the number of receiving sets ‘or 76,688 barrels daily in the Nation's in use. Complete figures for 1935 on 517 of the 560 commercial stations op- | crude oil production, the largest in many weeks, was reported today by the Oil and Gas Journal for the week erating In the United States, he said, | ended July 4. showed net sales of $47,957501, received from local advertisers and | the remainder from radio networks broadcasting national advertisers. of | which approximately $24,000,000 wns! The total daily output was 2,892,040 barrels. With the exception of Louisiana, | mid-continent | every State in the showed a decrease. The decline in Oklahoma's production was the rmh‘ i est, 46,675 barrels daily for total of DIVIDENDS ANNOUNCED fecso NEW YORK. Juiy 7.—Dividends de- clared (prepared by the Standard Sta- tisties Corp.). Increased. Pe- Stk of Pay- Rate riod.record. Am Insur 5c.. &1 815 Extra. 10¢ Regular. Am Art Wks 6% pf $1.50 Baltimore Am Tusur Canada Life Assur Chi Dist El Gen Corp, $6° pt $1 3 m Credit Co Balt Nat Lib Insur o 00 0000 O 3¢ Naraucite Com Mts $130 Metro Industries 6% f allot ctfs 50 paid 2 Mflnmnulh Cons Ater. mt Liverty 1nsur Norton (T M) Brew B 4c Phila Insulated Wire 50c Erotective ‘Life Insur Roog Bros Inc $6.50 $1.62'2 @ 250 @ Ins sl 50 Q@ Sea. -.$1.50 8 12-15 onnd © O O % [ 'méd New Jersey United et {NEW YORK BANK STOCKS YORK. July 7 ® —New York ‘Assoctation otations as of 2 or,ock\ (Quota! 2o Ak BK of Man (1'2). TNy S s—Including ex! CHXCAGO PRODUCE. CHICAGO. July 7 (% —Poultry. live. 35 trucks: steady: hens. 5 pounds and less, 18: more than 5 pounds. 1%; Leghorn hens. 15: Plymotth and White Rock Springs. 24 colored_ 20: Plymouth Rock fryers Wnite Rocks, 191: colored. 18: Py | White Rock and colored broilers. 17: | backs. 16a17: Leghorns. : lest “than = pounds. 14 Leghorn roosters. old ~ ducks. eay. Y cmall white ducks 110, small €op . {02 youns seese. 15: old weese. 1% Butter, 16.060; frm A1), 3215 rst andnrd (01, centralized Esgs. 213; firm; prices on track. 101: total U. 8 shipments. 500: stronger: cuoplies light. demand ecod ~ Sacked per hundred- weight: Missourt cohblrr U 8 N partly graded i5: s B 8 o L . partly sredod North ~Carolina ~Biiss Tri- umphs ' eenerally fair aqualitv showing heated. 2 450100 Virginia Cobblers. U. & No. 1 showing heated 2.75: Arkansas Bliss Triumphs U No. 1 and vartly graded. 3.25: California Vflme Rose U S rtly graded 2.95a325: less x . Idaho Bliss Triumphs. U. Potatoes. 31: 0. and than carlo No. 1.3 U. S. TREASURY POSITION. By the Assoclated Press. The position of the Treasurs July Receipts. _ $22.806.5: B '"‘w ipts for the cus receipts for the month, 83,078 52175 Rec Aot e, fecal year Geince July ) expenditures, $74.- ) dekpite reparments ot emer- 21 139.740.55 in recovery and relief exvendll. eL excess of expendstuns . & et $33.60 2 OR " & decrense o $4i b g?r‘ ‘flx: prev‘mus day: 'old lluu *1('- Receipts for July 618 date lnst vesr). X 14.59° customs "leceipts for ihe mon ,352.091.03. Rece for _the fiscal Jear. 009.43° expenditures flncludlnt $158.2! gxpenditures). e $304.485.11 .17 Fross 9053. wold assets, (comparable expendi- et balance. S1 0 4 0f emergency of _expenditures. debt, $28.865 $9.119.746. F.IEIGKT L)ADINGS. ol o B s Revenus frorghy, cationdings. OB ral reporting a0 wees enaed July 3 mcl Fonio” 3 "1 440 R gnisas 25.130 S o':..”_,.,,’ NEW YORK PRODUCE. NEW YORK. July 7 (®.—Butter. 20.- 790: strons and active. Creamery. hisner ’n extra. 33 .n.u‘/: extra (92 score). SIS Areta (90-b1 s6o 33833% centralized 4 0 score). 33a33! ‘heese. 69: firm. State. whole reh hnc! ‘unquoted: held, irm. Mixed colors un- By freight: No 27 changed Live poultry quiet. ion: MONTREAL SILVER. MONTREAL. July 7 (P.—Silver m %l to 16 hihg-im' 44.76b; East Texas' output dropped 15747 | barrels, a total of 429350, while in the State as a whole the decrease was 32,019 barrels for a total of 1,138,019. Louisiana’s increase was 1022 bar- | rels, which gave the State a total of | 223,747, California’s production was 568, SOO | barrels daily, a decrease of 2,200, and | in Kansas the production droppsd 1,250 barrels to a total of 144,750 "ar- rels. Eastern fields. increased their production 1,105 oar- | " | rels daily for a total of 148,93¢ There was an increase of 1,570 bar- rels 1aily in the Rocky Mountain sen- tion, with the daily production aver- aging 59.120 barrels. HOLDERS ACCEPT OFFER | OF BEATRICE CREAMERY | BY the Associated Pres: CHICAGO, July 7.—President Clin- ton H. Haskell of the Beatrice Cream- ery Co. announced holders of approx- imately 67 per cent of the 100,000 outstanding 7 per cent preferred shares have accepted the company’ exchange offer of one share of ne $5 preferred with common stock pur- chase warrant attached and a cash premium of $5 for each share of the 7 per cent. Public offering of the balance of the $5 preferred was expected this week, Haskell said, by a syndicate at | $102.50 a share, plus accrued divi-| | dends. ! the treasury of the company, ,| standing 7 | plus accrued dividends, October 1. He explained proceeds of the sale,' together with funds supplied from be used to redeem all of the out- per cent preferred at $110, TEXAS CO. TO DOUBLE CAPACITY OF REFINERY 3 the Associated Press. NEW YORK, July 7.—The Texas Co. announced it is installing addi- tional equipment in its Paduca, Tex., refiery, which, when completed, will double its capacity from 5000 to 10,000 barrels a day. The company.also will build a pipe line from the plant to the electric power station of West Texas Utilities Co.. near Quanah, to supply the lat- ter with residue for fuel. - PRODUCTION SOARS. CHICAGO, July 7 (Special).—Stew- art-Warner Corp. radio production schedules for the 1936 season call for at least a 100 per cent increase over 1935, officials of the company stated. including Michigan, | would | Heavier Classes Of Merchandise Are More Active, By the Associated Press. NEW YORK, July 7.—Heavier types of merchandise are moving faster into dent of William Filene’s Sons Co., | Boston, said before sailing for Europe. | “Men’s department and fashion | goods also are enjoying substantial | advances over last year,” he said. | Sales of Federated Department | Stores, Inc, controlling the Filene unit in Boston, and stores in Cin- cinnati, Columbus and New York, are up 10 per cent over 1935 Kirstein | disclosed. He said it is too soop to determine | the part played by bonus spending in lifting sales. PRICE CUTS STIR | FALL RUG MARKET Manufacturers Make Reductions After Offering of Special Type by Mohawk Mills. | Ev the Associated Press. NEW YORK, July 7.—The newly- | opened Fall market for floor coverings remained unsettled teday as a result jof price cutting which followed the offerings yesterday by Mohawk Car- pet Mills, Inc, of a four-row Axmin- ster type rug priced at $17.50 fob. mill. * This quotation was $2 below the | market level of the standard four-row |and the two and three row Axminsters. Some of the other large manufacturers imrned)aulv reduced prices on similar merthundxsz to $1750 from $19.50. | Before the market's close the Mohawk | Co.’s offering had been lowered to $16.50. The action of the Mohawk cuncern | was said to have inspired complaint: | of other producers. In reply Mohawk | officials declared their offering was a | special type of rug with lower '.hnn \stnndard count developed by the com- ! | pany's technicians. While price cutting did not ex(end | beyond the low-priced division, trade ’clrc]es heard that manufacturers | Inc., | same price | ished at | compared with 7 FORNEARBY AREAS Five Maryland Corporations Will Have Offices in Bor- dering Counties. Py the Associated Press. BALTIMORE, July 7.—Five oor- porations which will have their chief offces in the counties berdering on Washington were formed last week, the State Tax Commission reported today. The Boswell Realty Co. with an authorized capital of $25000, was formed to operate in Mount Rainier by | Yates P. Boswell of 507 B street northe east, Washington, and Harry D, | Eisenhauer of University Park. Fennell E. Anderson of 2943 Macomb street, Washington, and Keith B. and Hallie Mouser of Silver Spring formed the National Civic Service, Inc. The service is empowered by its charter to produce plays and entertainments, to operate a booking agency and to pube lish magazines. The authorized capie tal stock is $5,000. The Consolidated Oil Corp. was formed to take over the property of the Hydro Refining Co. Capital stock of the corporation was fixed at $250,~ 000, all of which will be used to pay for the Hydro assets. The incorporae tors of the new company are Russell Carter of Bladensburg, Donald Camp- bell of Elkton, Va.; William L. Mundy of 2107 Rhode Island avenue northe east, Washington, and Lane Seitz of Bowie. A corboration whose capital stock has a par value of 1 mill (one-tenth of a cent) per share was also formed, It is William Henry Miller Products, which will deal in magnesite, | Those who formed the company are William Henry Miller, William Henry Miller, jr. and Cyril Porter Dickson of 815 Fifteenth street, Washington. The capital stock is $1,000, divided into 1.000,000 shares. Morris Cafritz and Joseph Carroll of 1404 K street and John H. Swope, jr, of Chevy Chase, Md., formed the Woodland Development Co., with cap- ital stock of $30,000. The company will build houses and develop a sube division. e {GOLD CURRENCIES DULL IN LONDON DEALINGS Y the Assoctated Press. LONDON. July 7.—Gold currencies | were inactive in the foreign exchangs market today The United States dollar closed une changed at 5.02'4 to the pound, against the overnight New York rate of the The French !ranfl fin 69 francs to the poufid yesterday. PARIS, July 7 (#).—Three per cent rentes, 69 francs €5 centimes: 4!4 per cent rentes, 74.40 Exchange on London. 75.70. dollar was quoted at 1507:, The L CHICAGO LIVE STOCK A (United States De« ulture ) —Hogs. ~14.000, £ opened fully sead? Ger B0 35 to ¥eak =mostly heite Tergely R.00a9.00 steer cows about cteady: 2 ing up nare of crop and selling slowly at n.gher: vealers lower: mostly 9.60 fat and beiter. and _searling ing %00 direct | were apprehensive the trend rmlm,> { affect Wiltons and other weaves. The Mohawk Mills are at Amster- dam, N. Y. FEDERAL LAND BANKS NEW YORK. July 7 (P —Federal Land Bank bonds (Quotations as of 2 o'clock.) 4ls Nov. 4145 May 448 Jan 45" May 45 Nor 35 Julv 3s Jan. 2 100%2 FOREIGN MARKETS. LONDON. July 7 (.—Cape Town buy- | ing of Kaffirs was the feature of today stock market and prices closed gener: steady. r and motor shares moved | Righer. while foreign bonds. . siks - and construction issues eased. Trans-Atlentic | ang giltedsed securities were also heaty, | ARIS_—An irregular tone prevailed | in" the Bourse. T internations| and electrical issues advancing nch §ov- ernment bonds {RGustrial snares ost ground S \ MONEY MARKET. y NEW YORK. July 7 (.—Call mones steady: 1 per cent ail day. Prime commer- | per 4 per cent. Time loans steady 256 months. 114 per cent. . Bankers | acceptances unchanged. Rediscount Iate. New York Reserve Blnk 113 per rent. PHILADELPHIA PRODUCE. PHILADELPHIA July 7 (P —Dressed ulteyfowls. * fresh killed. Western. in 19, Tive ‘oultry uncha CONSTRUCTION LOANS and LOANS ON IMPROVED PROPERTY in the District of Columbia, Nearby Maryland and Virginia 5% % Promp: Action B. F. SAUL CO. 925 15th Street Natl. 2100 W, B. HIBBS & COMPANY MEMBERS NEW YORK STOCK EXCHANGE PHILADELPHIA STOCK EXCHANGE NEW YORK CURB EXCHANGE CHICAGO BOARD OF TRADE BOSTON STOCK EXCHANGE NEW YORK COTTON EXCHANGE WASHINGTON STOCK EXCHANGE HIBBS BUILDING % WASHINGTON, D.C. Telephone » National 0340