Evening Star Newspaper, July 9, 1936, Page 20

FINANCIAL LEGTRIC OUTPUT CLIBS FURTHER " North American Co. Total Includes Figures for Pepco Territory. BY EDWARD C. STONE. Electric output of subsidiaries of the North American Co., including the Potomac Electric Power Co., con- tinued to improve during the second quarter of 1935, according to President J. F. Fogarty. With a volume of approximately 1,430,000,000 kilo~ watt hour sales, output was about 10 per cent above the second quar- ter in 1935. This was but slightly under the record- breaking figures for the last three - - Fomtr. months of 1935 and the first quarter of 1936, two periods which enjoy greater seasonal use of electricity. For the first six months of this year, President Fogarty reported, the increase also was about 10 per cent above the same period a year ago. For the 12 months ended June 30, this year, output amounted to about 5.670,000,000 kilowatt hours. & gain of about 12 per cent over the preceding year. In all these output totals, the Po- tomac Electric Power Co. has played more than its full share. While the North American Co.'s gain for all subsidiaries for the first half of this year was 10 per cent better than the first half of 1935, gains so far re- ported by the Potomac Electric Power Co. have been better than 10 per cent. For example, in May alone the in- crease was 12.5 per cent. North American stock on the New York exchange has recently been very active, no doubt in anticipation of the fine output figures just announced. It has recently sold between 20!z and 30, as high as 32'¢ this year, and is paying $1 a share dividend. A lot of the stock is held here. Cramer Takes Exchange Seat. George F. Cramer, secretary of Waggaman, Brawner & Co., Inc., in- vestment banking firm, has been elected a member of the Washington Stock Exchange. it was announced on the Exchange today. This action by the Board of Gov- ernors gives the Waggaman, Brawner firm two seats on the local exchange, the other being held by John F. Brawner, president of the company. Mr. Cramer has been in the invest- ment business in Washington for sev- eral years and has been connected with the present firm since 1929. His election follows the admission of many other new members to the ‘Wahirgton Exchange during the past year which has brought about greatly increased interest in Exchange affairs and especially in the volume of trad- ing. atoek lnfl Dividend Rate. 59 Acme Steel (13). 9% Adams Exp (a20 223 Address'graph 60c... 1% Advance Rumley. 58 Air Reduction (t 2 Alr-Way Elec Appl. Prev. 1036 Low. 13% Alaska Jun (160¢). x !gl 24 Alleg Corp (d)_. 12% Alleg pf 'llfl'(d)_ 12% Alleg pf wS40w(d).. 1215 Alleg pf xw (d) e 27 Alleg pF Of (8) eeee % 26% Alleg Steel (1) aeo. hlu— Add 00. High. Low. Close.Chge. 1 60 60 60 Direct to The Star. Net 22 1 1 11% 27% 2% 1% 27 + % 2% % +1% 4% 13% + & 3% + % 314 + 4 208 157 Allled Chem (6)....x 2! 23% Allied Mills {a50c) - 6% Allled Stores - 69 Alled Stores D!“). 35% Allis-Chalmers (1). Amerada Corp (2)_. '41 Am Bank Note (1). 65 Am Bnk Note pf(3). 40 Am Brake Sh(1.60). 13315124 Am Brake Shpf 5% 135% 115% Am Can (%4) 166% 162% Am Can pf (7). 41 30 Am Car & Foun g;l% Am Car & Fdry pf__ 201 Am Comel Alcohol—. 16% Am Crystal Suga: 89 AmCrysS ist pf(6) 313 Am Encaus Tiling.. 6% Am & Foreign Pwr. 25 Am & For Pw $6 pf. 20% Am & For Pw 87 pf. 12 Am & For Pw 2d pf. 13 Am Hawaflan (1)_. 54 Am Hid Leather. 33 AmHide& L pt (3). 37 Am Home Pr (3.40). 27 Am Ic 17% Am Ice pf (3) 9% Am International__. 23% Am Locomotive. ... 66 Am Locomotive pf_. 21 Am Mch & F (80c).. 10 Am Mch & Met a25c. 27 - Am Metal 3515 Am News(NY)2.40_ Tla Am Power & Light 36% Am P&Lt $5 pf(2%4) 43 Am P&Lt §6 pf (3) 18% Am Radiator _ 23% Am Rolling M(1.! IO) 18 Am Seating_ i 25% Am Shipbuilding 2_ 56% Am Smelt&Ref (2). *20'3 Am Steel Foundry... 26 Am Stores (2).. 614 484 Am Sugar (2)- 1417129 Am Sugar pf (1) 26% 20% Am Sumatra Tob 1. igg 149, Am Tel & Teleg (9). 19'a Am Water Works_... 92% Am Wat W 1st (6). 7% Am Woolen 54% Am Woolen pf (32). % Am Writ Paper (d). 4's Am Writ Pap pf (d) 313 Am Zinc & Lead 28 Anaconda Cop(a50c 35 Anaconda W (a50c) 15% Anchor Cap (60¢) . 97 Anchor Cap pf 6% 3 AP W Paper 37 Archer-Dan-Mid 1. 1105 105% Armour Del ot (7). 7% 4% Armour (Illinois) . 84 66' Arm'r(I11)pr pf(6)_ 625% 47% Armstrong C (1%)- 7'y Arnold Constab 60c. 8's Artloom Corp. - .- 12% Asso Dry Goods . 109% 103 Asso D G 1st pf(36) 86% 59 AtchTo& S Fe(a2). 353 21% Atlantic Coast Line 243 11 AtlGulf& W Ind__ 351 26% Atlantic Ref (1) _ 115 111% Atlantic Ref pf (4). 73 48 Atlas Powder (12)_ 126% 112 Atlas Powder pf (6) 54% 26% Auburn Auto 10's 5% Austin Nichol 7% 4% Aviation Corp( 67 2% Baldwin Loco (d).. 541; 29'; Baldwin Loco pftd) 3% 2% Baldwin Loasd (d). 24% 157 Baltimore & Ohlo__. F b s5BessVsr sl £r LH++4+44 LEEE 22% 29% 6% 2815 26% 53 Lm. - e = c—o'.-lsman-NN?.»—-W.:—;;N»quoum»‘u o Prev. High. Low. % 67% Contl Can (3) .. BT 24% 46 4 38% 46 69 821 IGB'A 133% 115% 172 31 o 4dn 17% ™ 105% 48% 118 a8y, 38 35% 5315 614 18% 1214 63 34 14% 150 11% 15% 33% 591 1457 417 43 4n 700 1 28, 118 40 53Y 62 50 3% 43 1636 Stock and Dividend Rate. 17% Cont’l Diam Fib(2). 351 Contl Insur (11.30). 2% Contl Motors.... 281 Contl Ot of Del (1)_ 27% Contl Steel Corp(2). 55% Corn Ex Bk&Tr (3). 6814 Corn Prod Ret (3).. 162 Corn Prod R pf (7). 4 Cotylmo. _______ 36 Creamof Wh (2)... 16% Crosley Rad(a50c). 43% Crown C& S (1)___. 7% Crown Zelleb'k vto.. 28 Crucible Steel _____. 61 Cuban-Am Bugar... 85'% Cudahy Pkg (3%)..x 16% Curtis Publishing._. 99% Curtis Pub pt (1) 4 Curtiss Wright____ 10% Curtiss Wright A_ . 60 Cushmanspf (3%). 43% Cutler-Ham (11).. 52 Deere & Co.. 27 Deere & Copf § 191 Detsel-Wem-G 150a. 36% Delaware & Hudson 147% Del Lack & West___ 4% Den&R10GW pt (d). 337 Diamond Mtch 1134 18% Dist Corp Seag Ltd. 412 Dome Mines (+2)__. 7% Dominien Stores___ 129 Du Pont deb (8) 111% Dugquesne Lt 1st 156 Eastman Kod "l).. 28!3 Eaton Mfg (2) ... 5% Eitington-Schid. 308 Elec Auto L (1.20)_ 10 Electric Boat _ ___ 5% Elec&Mus In(b24c). 6y Elec Pw & Lt . 29'; Elec Pw & Lt $6 pf_ 32% Elec Pw & Lt $7 pf. 4215 Elec Stor Bat (12)_. 62 Endicott-John (3) _ 112% Endicott-Joh pf (5) 713 Engineers Pub Sve-. 11 ErfeRR 16 Er 18t p! 11% Erfe RR 2d pf . 231 Evans Products (1). 4% Exchange Buffet... WASHINGTON, D. C, THURSDAY, TRANSACTIONS ON THE NEW YORK STOCK EXCHANGESIKSAREFIRN - AT END OF SESSION Prices Rebound Fractions to 3 or More Points—Vol- 2% Fatrbanks Co...... 190s 90s 34% Fairbanks-Morse__ 31% Fa. doSu!ll‘l?)_. 18% Federal Lt & Trac . 6974 Fed Min & Smelt pf. 21 Fed Water Svo (A)_ 2015 Fed’d Dept Stra(1)_ 38 F1d Phoe F 1(11.20). 2474 Firestone T&R 1.20. 100'; Firestone pf A (6)_. 40 First Nat Strs(2%). 4'x Follansbee Bros (d) 24's Foster-Wheeler ___ 30' Fourth N1 ww a75c. 24% Freeport-Texas (1) 3113 Fuller Co 2d p! 3% Gabriel Co (A).eane 11% Gamewell Co. 8!; Gen Am Investors._ 424 Gen Am Trans(1%) 21 Gen Asphalt(b25c). 10% Gen Baking (80¢c)... 141 Baking pf (8) .. Tt Gen Bronz - '« Gen Cabi —— 17 Gen Cable (A)ccaua 70'; Gen Cable pf - e 5374 Gen Clgar (14) ... 140 Gen Cigar pf (7)o 345 Gen Blectrie (1)... 33% Gen Foods (1.80)__. s Gen Gas & Bl (A).. 59% Gen Mills (3) 537 Gen Moto Gen Motors pf (5 5% Gen Outdoor Adv 18% Gen Outdoor Adv A. 38 Gen Print Ink (12)._. 33 Gen Public Service. 3213 Gen Ry Signal (1) 2 Gen Realty & Util__ 26'; Gen Real&U pf ww. 33% Gen Refrac (1).... 3213 Gen Stl Casting pf 29 18 108 1 39 2 8 3 108 86 19 28 Net Mfldo.mlfl: (Close.Chge. M7 +% 18% + % 39 -% 2%~ 31% + % 28% + % 67 +1% 78 + % R2LELE ¥ o FEES Prev, 1036 High. Low. Stock and Dividend Rate. 165 160% Ligg&Myers pf (1). 28% 39% 50% 4% 54% 19 Lily Tullp Cup(1%) 25% Lima Locomotive... 86 Link Belt (11.20) .. 321 Liquid Carb (1.60).. 43 Loew’s Ino (13).. 108% 104% Loew’s Inc pf(6%). 3% 8% 45 2 Loftino..__. - 3% Long Bell Lum (A). 40% Loose-Wiles (2) . 112% 107 Loose-Wiles pf (5). 261 21% Lorillard (P)(1.20). 151 142 Lorilard Ppf (7). 51% 24% 1% 35 32% 15% 98% 49% 118% 11% 46 13 La Ofl Ref pf (4)... 20 Louisv GEEDTA 1% 57% Louls & Nash (a2)_ 22% Ludlum Steel (1)_.. 29 McCall Corp (2) 12% McCrory Stor 92 McCrory Srs pf (6). 39% Mcintyre Porcu(2). 96 McKeesp't T P (14). 8% McKesson & Rob._. 37% McKesson&R pf(3). 11% McLellan Stores.... 273% Mack Truck (1).._. 40% Macy (R H) Co (2). 3415 Magma Copper (2)_ 14% Man El md gtd (4). 3215 Man Elev gtd (d) 17% Manhat Shirt (60c). 815 Marine M1dld (40c). 18% 41 Marlin-Rock (12)__. 11% Marshall Field & Co 6'% Martin Parry. 2715 Mathieson Alk 1 %_ 43% May Dept Strs (2) . 13% Maytag Co 55% Melville Shoe (4) 67 Mengel Co 40% Mesta Machine (3)_ 5% Miam: Copper 174 Mid-Cont Pete a40e 4 21% M14I'd Stl Prod (1) 110 Mid Sti 1st pf (8)__ 613 Minn Moline Pwr.__ 57% Minn Moline Pwr of 25 MStP&SS MlIsin_ 5'5 Mo Kans & Texas__. 14%2 Mo Kans & Tex pf_ Sales— Add 00. High. Low. 1165 2 19% 2 29% 4 384 11 36% 72 51% JULY 9 166 19% 29 37% Net Close.Chge. 1656 +2 19% — % 29% +1% 38Y + % 1936. Prev. 1036 High. Low. 3% 6% 16% 52 34% 36% +2% | 101% 50 51 +1% 1108 108 108 2 2 2 43 108 110% 21 23% 508 143 330s 39% 24% ki 2314 3i%4 14% 98% 43 874 434 13% 2073 Mohawk Carp (1)__ x 79 Monsanto Chem(11) 35% Montg'y Ward(80c) % Mother Lode 28% Motor Products (2). 15% Motor Wheel (1)__. 11% Mullins Mfg (B) Mullins Mfg pf a3l Munsingwear allg .. Murphy (G C) 1.20_ Murray Corp Myers(FE)&Bro t3 15% Nash Motors (1)... 12% Nat Acme Co.auuee. at Pwr&Lt (60c) - Nat Steel (1%) 197 Nat Supply Co 8 Nat Tea (60¢c) 10 Natomas (180¢) - 32 Neisner Bros (1%) 9 Newport Industries 3213 N ¥ Alrbrake 27% N Y Central RR___ 17% N ¥ Chicago & St L. 36 NYChi &St Lof_ 1 NY Investors (4 3 NYNH&H () 7% NY NH & H ot (4 4'x N Y Ontario & West 21, NY Rysapt (d) ___. 9'3 N Y Shipbutlding_—. 83 N Y Steam pf (6) 9313 N ¥ Steam 1st (7). 1% Norfolk Southn (d) 210 Norfolk & W (18) 6% North Am Aviation. 2314 North Am Co (1) .. 2414 Northern Pacific 51 Northwest Tel ( 1213 Ohio O11 (50e) . _— 2414 Oliver Farm Equip- 17 Omnibus Corp vte_. lll' 13 27 1073 10s 98 IJ('I 101 4% +1 0+ -% A% 20% 6 1% 43% 6% 4% 3 24% 32 9% 8% 5% 1 6% 120'/- 110% 34% Stock and Dividend Rate. 1% St L-San Fran (d).. 2% St L-San Fr pf (). 11 Savage Arms.__ 38% Schenley DistaTsc_ 97'% Schenley D pf (63%4) 1% Schulte Retail Strs. 7% Schulte R Strs pf_. 53% Scott Paper (1.30).. % Seaboard Ar L (d). 30% Seab'd Ofl(Del) (1). 59% Sears Roebuck (2)_ 2% Second Natl Invest. 61% Sec N Inv f 31.66... 15% Servel Ine (60¢)__.. 20% Sharon Steal Hoop.. 89 Sharon Steel pf (5). 4% Sharp & Dohme._ . 43% Sharp & Dpf (3%)_ 11% Shatiuck F G (50¢). 14% Shell Union O11 . hell Un O pf (5%). 9is Silver King (40¢) .~ 19% Simmons CO-ceeeuu 4% Simms Petrol.eeaa. 1913 Skelly Ol e 40% Smith (A OQ) e 22 Snider Packing ... 121% Socony-V O1l (40c). 4 SoAmG&PaZlc .. 26 So Porto R Sug (3). 160 150 So Porto RS pf (8). 78 25 South Cal E4 (1%)- 23% Southern Pacific_.. 12% Southern Rallway.. 19 Southern RY pfocee. 6% Spalding (A G) ... 63% Spalding(AG)1st pt FINANCIAL. 2 L 2 4 2 3% Net MGW High. Low. Close.Chge. 2 3% 4 11% 11% 11% + % 71 40% 39 3 100% 100 2 1% 2 9% 130s 60 7 ) B3% 3% 3% 65% 22% 22% 89's % 57% 3% 18 - o B YL % 30% 5% 26% 451 23 13% 4 - 277 20- 158% 1% 9 59% % 32% 2% 3% 65% 22% 22 89% T% 57% 13% 17% 126 118% 120 9% 30 5% 24% 42 23 18 27’ 153 FE O FEEE 9% Ak Rb) et FE OFEFEF F 153 19 29% 29% 29% 32 33% 32% 33% 14 16% 39 29% — % | 109% 101 Spang Chal pf $5%. -% % FEFELFES R A 9% 36% 23% 2415 19 | 106's 100% Tide 174 72'3 143, 27t 101 w22 5% Sparks-Withington. 29% Spencer Kell (1.60). 15% Sperry C vte b2Gc_—. 13% Spicer Mfg 44 Spicer Mfg 63 Splegel-May-8 (3) 21% Square D (B) (50c). 14% Stand Branas(s0c). 10 Stand Com Tobacco. 5% Stand Gas & E1 (d) . 915 Stand G&E 84 ot (4) 24% Stand G&E $6 pf(d) 26% Stand G&E 37 pr(d) 35% Stand O ef Cal (11). 323 Stand O1 of Ind(11) 51 and Ofl of N J t1. Sterling Prod (3.80) 2% Sterling Secur (A)_ 16!; Stewart Warn(50¢). 14% Stone & Webster___ 914 Studebaker Corp. 72 Sun Ol (11).. 3 Superfor Oll—eeeee 95 Superior Stee 67 Sweets Co 0f Am_ « SWIft&Co (1) ——m 57 Symington A (d) 6% Telautograph (60 24 Gulf Sui (2). 7' Tex PacC& Oa2jc x 34 9% Tex Pac Land Trust 8's Thermotd Co..... 3% Third Avenue 24%. Thompson P a30 4'4 Thompson Starre 26 Thompson Star pf. 14% Tide Asso 60c A O pI(6). 12's Timken-Detroft ... 56 Timken R B (12) __ 11 Transamerica t40c. 147 Trans & Westn Alr_ T'x Tri-Contl Corp .. Truax-Tra Coal ... 2213 20th Cent Fox Film. 313 20th Cen Fox pf 134. #% TwinCity RT 65% Twin City R T pf. 27x Ulen&Co. ... 74% Und-Ell-Fish (3) _ 125'3 Und-Ell-Fish p2 (7) 381y Union Bag&Pap (2) 71% Un Carb&Carb 2.40 + Union O11 of Cal (1) 2 Union Pacific (6) _. 90 Unton Pacific pf (4 « Un Tank Car (1.20). 20% United Atrcraf: 3 United AIr Lines vte 41, United Bisc (1.60) _ 2% Unit-Carr F(11.20) 14 3 24 13 34 2 10% 908 T5% 5 3 26 8% 1008 126 44's 15% 28% 6% 109 7 32% 188, 22% 49% 68l 24% 15% 10% 8 1814 16% 28% (5 i e =y ~ 444#;&\_‘:}{1‘|*++ FLTEST FEFEETLEFEE §F FFFFEFTE 5 +4++ 4+ ¥ FEEF EFFTLF ume Expand 30 15 Indus. Ralls. Net change. +9 +.6 Today, close 855 352 Prev. day... 846 346 Month ago- 844 356 Year ago... 620 23.7 1936 high .. 87.4 39.7 1936 low.... 73.4 302 1935 high... 763 312 1935 10W.... 49.5 185 1932 10W.... 175 8.7 1929 high...146.9 153.9 1927 low.... 51.6 953 lessened today and prices rebounded for ga Volume expanded on around 1,300,000 shares, of traders, United States Steel, Steel, Norfolk & Western, Ohio, New York Central, Great Northern, Gene; Corp., Standard Oil of Owens-Illinois, Case and Woolworth. Manville, Loew's, Du Pont, Cudahy, ican Can, Air Reduction, American Telephone was Among preferred share can Power & Light, Alleghany Corp. # NEW YORK, July 9 ( ing an early reaction. c reached new high ground 12,61, or 14 to 18 points S. Stock Averages dh s $3 '+ 97 633 95 633 484 631 326 451 508 643 85 561 us » 18431577 618 613 (Compiled by the Associated Press.) BY VICTOR EUBANK. Associatea Press Financial Writer, NEW YORK, July 9 —Tension ovet the drought and steel labor situation; * stock marke ins of frac tions to 3 or more points. the rally t the best ir several weeks. The close was firm With business news to the liking buying centered on steels, utilities, rails, motors, coppers oils and merchandising issues. profit taking near the finish was ab- sorbed without much difficulty. Conspicuous on the upside wer Alitth Bethlenem Youngstown Sheet & Tube, Midlanc » Steel Products, Inland Steel, Nat. Louis & Nashville, Santa Fe, Chesapeake & Chesapeak( Corp., Northern Pacific, Union Pacific ral Mot Chrysler, Anaconda, Consolidated Edi. son, Coca-Cola, Seaboard Oil, Texas New Jerser Lerner Stores, J. 1 Others on the climb included Johns. Westingh Electric Power & Light, Underwood-Elliott-Fisher, Amer. Arnold Con- stable, Oliver Farm and A. O. Smith about even es that e hibited strength were those of Ameri- Standard Gas International Paper, Nickel Plate anc NEW YORK COTTON ) —Follow-~ otton prices for the cur- | rent advance in late trading today. | October sold up to 12.54 and March tc net higher, | The midafternoon market was within a point or two of these figures on Would Ban Margin Rules. S0nDued oaces and sneculatinelbuyy Militant brokers in the financial dis- trict, who lay all the blame for the present light trading on the New York Stock Exchange to high margin re- quirements, admit they were some- what aghast to read of the claim by W. W. Cumberland, economist, that 8 Oppenheim Collins_ 32% 24% Otis Elevator (60c). 136 123 Otis Elev pf (8) .- 20% 1215 Otis Steel __ 951 70 Otis Steel pr pf_ 164 128 Owens-11] G 2 2& Owenc Il1 G.July 24 17% 13 Pacific Am Fish (1). 9% 313 Pacific Coast _ 68 United Carbon 2.40_ 5% United Corp.-. 40'% United Corp p£(3). 10% United Drug.. ... 15 United Dywood (al) » 4'3 United Elec Coal.... 66's United Fruit (3).._ 14% United Gas Imp (1). 109 United Gas I pf (5). 34% 21 Baltimore& Ohpf-. 118 112% Bang & Aroos pf(7) 30s 102 82% Barker Brospf _... 10s 20 14! Barnsdall Oil (80c) x 33 18% 16% Bayuk Cigar (75¢).. 6 26 18 Beatrice Cream (1). 1 111% 107¢; Beatrice Cr pt (7) 16% 131 Belding-Hem (1). 31% 21% Bendix Aviation(1). P++4+ 14+ lR‘fi 17 Gen Theatre Equip. 30 Gen Time Instr'm’t. 13% Gillette Saf Raz(1). 74 Gillet Rt (6)-. ® T - Putures closed barel 2 | o Froure arely steads July ¥ OFF lower te Lax 0 69 Gimbel Bros pf(a2). 39% Gliaden Co (2) 5213 Glidden cv pf (432). 374 (Gobel (Adolf)._ » margin regulatiohs should be given up entirely. Dr. Cumberland told the University of Virginia Forum that he was unable to distinguish why the Government | should intervene in the credit supply | for securities any meore than in the | supply for any other purpose. He said he regarded “margin regulating power as tco dangerous to place in the hands of any man or group.” While most Washington brokers in- sist that 55 per cent cash payments on stocks and loans of only 45 per cent are far too high, they do not go so far as to say that margin rules should be abandoned. They feel that margins should be lowered enough so it would be easier for people who want to buy stocks by the margin method. Thin margins are not favored as they cause too much selling on minor market + moves, brokers say, but claim the pres- ent 55 per cent figure is too burden- some. ‘ Two Dividends Declared. Directors of the Washington Loan & Trust Co., at the regular July meeting, held yesterday, declared a quarterly dividend of 2 per cent on the capital stock, payable August 1 to stockholders of record July 22. At the same meet- ing the directors authorized the trans- fer to surplus of $100,000, making the earned surplus of the company $1,- 900,000. The directors of the John H. Wilkins Co., coffee and tea merchants, have declared a 4 per cent semi-annual dividend on the preferred stock and $1.50 per share on the common stock, both dividends being payable July 15, according to announcement by Presi- dent John H. Wilkins. Company Honors Kreamer. Oscar A. Kreamer, member of the customer service department of Inter- national Business Machines Corp. in this city, has completed 25 years of service, gaining admittance to the company'’s Quarter Century Club, it was announced today. With his certificate of membership he has re- ceived a paid-up life insurance policy for $2,500 and an engraved gold watch. Mr. Kreamer joined the I. B. M. organization in 1911, before the com- pany’s present policy of world-wide education among its employes was inaugurated, and when it was neces- sary to procure knowledge of the ma- chines through the steady application of personal effort. The corporation claims to be the world's largest manufacturer of busi- ness machines, doing business in 79 countries. Traction Bonds Lead Trading. Capital Traction 5s led trading "on the Washington Stock Exchange to- day, again selling at 92%;, the high for the year, and closing at 92%. There were nine sales at 921, mak Ing a $13,500 turnover, and one $1,000 transfer at the close at 92%. The market ended with 92% bid and 93 asked. City & Suburben 5s appeared on the board today with three $1,000 sales recorded at 90, a gain of 61 points since the last previous sale. Stocks were entirely neglected. The forward movement of busi- ness in June reached the highest point since March, 1933, Secretary of Commerce Daniel C. Roper said yesterday in his semi-annual state- ment regarding current business con- ditions. « During June liquidation was com- pleted by the controller of the cur- gency’s office in 16 bank receivership . The June liquidations bring the total since the bemk holiday in March, 1933, to 405 receiverships finally closed or ruwrf to solvency. A =4 24%, 20 Benefictal Lo(t1%). 48 Best & Co (12)..cee 45% Bethlehem Steel 16 Beth Steel 5% (1) 23 Bigelow-San (50¢)._ 14'2 Blaw-Knox (40c)__ x 18% Bloomingdale (40¢c) 167 Boelng Airplane.... 44 Bobhn Alum & Br(3) 80%s Bon Ami A (4) 25% Borden Co (1.60). 64 Borg-Warner (3)_. 124 Bridgep't B 40c xrts 13 Bridgep't B, July 23 43% Briggs Mfg (12) 41 Bristol-Myers (12). 40% Bklyn-Man Tr (3)_. 97% Bklyn-Man T pf(6). 442 Bkiyn Un Gas (3).. 8% Bucyrus-Eri 13'5 Bucyrus-Erie cv pf. 9% Budd (BG) Mfg. . 1% Budd M 1pd. Julyll 8% Budd Wheel - 20% Bullard Co (1”55) - 11t Bulova Watch ... 25 Burr Ad Mch(160c). 213 Bush Terminal (d)_ 144 Bush Term B pf cod 2% Butte Copper&Zine.. 16% By A M) 5413 Byers (A M) pf____ 22 Byron Jackson (1). 30% California Fkg(1%) 30 Campbell Wy "l)—- 10% Canada Dry G A.... 10% Canadian Pacific.... 37 Cannon Mills (2)_.. 440! 9 91 Car-Clin&O sta (5). 12001 6% Carriers & Gen 20c. 9215 Case (J 1) Co... 54% Caterplllar Trac(2). 21% Celanese Corp a50c.. 19 Celotex Corp.. 54 Celotex Corp pt- 25% Cent Aguire (1 35 Central RROI N 614 Century Rib Mill 47% Cerro de Pasco ( 81 Certain-teed Prod . 19% Champ Pap & F (1). 101 Champion Pa pt (6) 59 Chesapeake Corp(3) 51 Ches & Ohio (2.80)... 1% Chi Grt West (d) .. 4 ChiGrt Wof (d)_ 1% Chi Mil StP&P (d)_. 2% Chi M StP&P pf (4) 215Ch1& N W (d) 6% Chi & N W pf (d)__. 1215 Chi Pneumatic Tool 40% Chi Pneu Tool pf--- 115 Chi R 1 & Pac (d) .. 19% Chi Yellow Cab (2). 85% Chrysler Corp 15% City Lce & Fuel (2). 23% Clark Equip (30c) .. 33% Cl" Gl'lbh Br (11). 48 't Peabody (1) 128 124 cnmt Peab pt (7). 102 20% 84 Coca-Cola (2). .- 13 Colgate-P-P (50¢c)—. 106% 102% Colgate P-P pf (6).. 51% 39% Collins & Ak (2)-_. 112 107% Collins & Alk pt (T) 26! 8% Colonial Beacon. ... 3% Colo Fuel & Ir (4)_. 24 ColoF &1pf (d).. 21% Colo & South...... 19% Colo & South 1st pf.. 14 Columb G&E(a20¢c). 90% ColG& Bpf A (6).. 31 Colum Plet vte(t1). 42% Columb Plc pf(2%). 94 Colum Carb vtc(14) 44 Comcl Credit (3) 101% 100% Comcl Credpf4% n 117 110 Comci Cred 82% lm 102 Consol Ed NY pf(§) - Th 20% 16% 11% 1% 26% 19% 2% ot (6%) 55 Comel Inv Tr 13.60. 14% Comel Solv (60¢c) ). 32% Congoleum-N 1.60__ 16 Congress Cgr (b3).. 19 ConnR&Lpf.ooe. 8 Consol Cigar. _ 72% Con C pr pf ww 6% _ 27% Consol Bdis N Y(1). 4% Consol Film .. . 15% Consol Film Df (tll 11% Consol Ofl (60¢) - 6% Consol R R Cuba pf. %,Consol Textile (d) _. 15% Container Corp (1) 10% Contl Baking (A).— 1% Contl Bakiog (B).— - S ISP - - EE PN R P 8 141 112% 49 10s 128 128 128 36 105% 100% 105% +4% b4 14% 13% 14% + % 6 104% 103% 104} + % 29 47% 454 46% +24% 80s 110 109% 110 + % 9408 26% 26 26% + % 3 6% 5 5 26 25% 26 +1 3 30 30 +% —2% 40s 308 100s % 46% 3 123% 122% 122% + % 21 64 63% 63% + % 14 100% 100% 100% + % 4 116 115% 115% + % 11 6% T6% + % 21 14% + W% 275 3% — W 3 +1 34 19 + % 22 +1 8% + 80% + 39% 38y 38% 1107% 107% 107% — T 5% 4% 4% 44 18% 18 70 13 12% 1 % T 9 % bed 3 18% 18% 6 13% 134k 1 1% 1% FEFEREER &2 118 3614 11 41% 16% 115 4% 16% 37 113% B4 33 5% 12% 34% 147 114% 13% 187 5% 15% 5% 41 185% 49% 90 5% 8 54% T 4 38 44 11 81 67 Goebel Brw C($200) 12% Gold Dust vte (60c) x 35 13% Goodrich (B F) 2 Graham-Paige 3's Grand Union ctf: 16 Grand Un pf $62%6. 25 Granite City Stl (1) 2815 Grant (W T) (1.40). 323 Grt Northern pf.._. 16 Grt North'n Ore(1). 31 Grt West Sug (2.40) 22 Green(HL)Co (+1)_ 48% Greyhound C'p 3.20. 1% Guantanamo Sugar. 301 Gulf Mobfle & N of_ 105 Guif StS1st$10%_ 33 Hack WpfA(1%).. 6 Hall W F Printing .. 30% Harbison Walk(t1). 12 Hat Corpof Am(A). 10415 Hat Cpf ww (6%) . 4% Hayes Body ... 30% Holland Furnace... 9 Holland & Son (50¢) 19% Holly Sugar (2)..__ 108 Holly Sugar pf (Y). 414 Homestake (112)_.. 224 Houd-Hers (B)1%_. 54% House Fin (A) (13). 6% Houston Oil vte__.. 48% Howe Sound (13)_.. 3% Hudson & Manhat_. 13% Hudson Motor Car—. 1 Hupp Motors. 18% I1linots Central 30 Illinois Cent pf (A 58 Il Cent lines(4 414 Indian Refinin; 25% Indus Rayon ( 106 Innrlull-mnfllfl). 88% Inland Steel (3).__. 6'» Inspiration Copper.. 11'% Interboro RT (d)_ 21 Intercontl Rubber_. 9% Interlake lron__. 3 Int Agricultural 25 Int Agricul prpf .. 160 Int Bus Mach (16).. 351 Int Cement (13%)_—. 56% Int Harvester 1.20.. 2% Int Hydro Eleo (A). 4% Int Merch Marine - 434 Int Nickel(Can)1.20 3% Int Paper & Pw(A). 24 Int Paper & Pw(B). 37 Int Print Ink (1.80 107 Int Print Ink pf(6). 3% Int Ry Cent Ame 23 10 10s 114 2 708 1308 3 Int Ry Cent Am vte. 140s 19% Int Ry C A Df cccuen 2208 23 IntSalt (14)caaean 47% Int Sho® (13) caceem 15 Int Sflver__.. 50 Int Silver pf.. 12% Int Tel & Tel—————. 10% Interstate Dept Str. & 2 3 408 36 33 82 Int Dept Strs pf(7). 1008 15 Intertypé Corp (1). 241 Island Creek (2) . l 29% 123 113 Island Creek pf (6)- lOl 129 126!‘ 25% llD‘fi 58% Jewel Tea (14) . 88 Johns-Manville(3). 121% Johns-Manv pf (7). ' 3 3 308 75% Jones&Laugh7%pf. 2708 13 Kans City Southern 19% Kans City South pf. 26% Kayser(J)& Coa7se 20 Kelsey-Hayes (A).. 18 Kelsey-Hayes (B).. 14% Kelvinator (150c) .. 28% Kennecott C (1.20).. 17% Keystone StI&W (2) 30 Kinney (G R) pf... 4% Kresge Dept Strs._ 6 9 3 6 15 17 97 13 108 § 74% Kresge Dept Strs pf 10- 20% Kresge (S8) (1) 101% Kresge (S S) pf(7). % Kroger G&B (1.60). 20! 10 ZOh Laclede Gas (St L) 330s 32 Laclede Gas St L pf Dlfll 941 Lehigh Por C pf(4). 2 Lehigh V. 9% Lehigh Val Cos! pf. 8% Lehigh Valley R R_ 89 Lehman Corp (13).. 12 Iehn & Fink (1%)-. 37% Lerner Stores (3) . 47% Libbey-Owens G(3) 7 Libby McNeill & L. l’! Ligs & llnu (14) % Ligg&Myers B(14)- ' 60s 1 1 5 10% 2 101% m 101% +1% 0% 17 5 363 17% 16% 34% 34u 114 421 420 23% 23 57 984 49‘; 13.6 56% 8% 49 25 25 121 121 9% 79% 105 104 123 123 80% 79% 20% 20 36 26% 21% 19 19% 388 20% 31 5% 89 24 108 102% 19% 19% FHAEE L+ LI o + 4+ o F & & 5 Cferiess £5 rssis rEseEs Som =F g P31 R aronaron R A U i s R SRS SELREE 2L E RS 5 121 79% + % 104% +1% 123 + 3% 0% + % 20% + % 36% + % 26% + % 23 +1 20 +1% 19% + 8 39% + % 20% + % 31 -1 5% + 1 89 +9 24+ % 102% — 3% 19% + % 29 424 1 45 20 9!6+ % 10% + % 36 16% 16% 16% + % 84 8% 8 l 109% 108% 109% + ¥ 1110 110 110 10‘;6 ¢l!fi' 17 93, 913 Pacific Coast 1st. 4% Pacific Coast 2d. 39% 30% PacificG&E ll'h). 567a 47% Pacific Ltg (2.40)_. 19 151 18 13 12 14% Pacific Mills 140 Pacific T&T p 7% Paramount Pictur: 59 Paramount 1stof__ 8% Paramount 2d pf 2% Park Utah '« Parke Davis( Parker Rust P(1%). atino Mines 2 Penick & Ford (3) Penney (J C) (13) Penn Coal & Coke__. Penn Dixie Cement._. 17 Penna Glass ctfs_ 28% Penn Railroad (al). 30. Peoples Drug(tl).. 38 Peoples Gas Chi Marg prof 12% Pet C'p of Am -z 814 Phila Rap Tr pf(d). 1% Phila & Read C&1_. 66 Phillip Morrie (1).. 38% Phillips Petrol(t1). 6% Phoenix Hoslery. .. 8 Plerce Oll pf 13 Pler Petroleum. . 49 Pitts Steel pf_ 14 Pitts Term Coal 11% Plymouth Ofl (1) 12 Poor&Co (B). ... 44 Porto R Am Tob(A) 6% Postal Tel&C pf(d). 2% Pressed Sti Car (d). 18 Pressed Stl C pf(d). 40% Proctor&Gam(1% ). 48% 39 PubSveNJ (2.40). 1104 124% 141% 103% Pub Sve NJ pf (6) . 113% Pub Sve N J pf (6). 128 PubSve NJ of (). 112 Pub Svec E&G pf(5). 367 Pullman Inc (1%)-. 16% Pure 011 +91% Pure Oil pf (6) 9% Purity Bakeries 409 93, Radio Corp 68's Radio cu lat PE3%- 5 Radio-Keith-Or(d)_ 28% Raybestos-M (13- 35% Reading (2) 39 Reading 1st pf (2).. 9% Real Silk Hostery_. 70 Real Silk Hos pf - 18% Remington-R (60c). 22% Rem-Rnd 6% pf 1%. 4% Reo Motor Car. 16% Republic Steel 78% Repub Stlpf A (6)- 22¥ Reynolds Met (1) . 50 Reynolds Tob B (3). 74% Ruberold Co (1)---. % 30 Safeway Stores (2). 114% 110% Safeway Strs pf(7). 29% 22 St Joseph Led(80c). INVESTMENT FIRM’S ASSETS GAIN SHARPLY By the Associated Press. NEW YORK, July 9.— General American Investors’ Co. reports as of June 30 net assets applicable to the debentures and capital stock of $33,- 242,104. This amount is after deduct- ing all taxes except the surtax on un- distributed profits and compares with net assets as of December 31 of $30,- 557,817, CUBA SHIPS MORE SUGAR. NEW YORK, July 9 (#).—Cuban exports of sugar from January 1 to July 4 totaled 1,515,006 long tons, raw value, of which 1,171,824 tons were shipped to the Unfted States, Lamborn 1 | & Co., sugar-brokers, reported. For the corresponding period last year exports were 1,203,033 tons, with 968,040 tons going to the United States. A 554 1% 30% 10s 113 9 23% |Iron Ore Stocks Reduced by High Steel Production By the Associated Press. CLEVELAND, Ohio, July 9.—With steel mill production hovering near the highest peak since 1930 demand for iron ore has cut into storage stocks at Lake Erie ports. The report of the Lake Superior Iron Ore Association shows supplies are about 6,000,000 tons less than they Were a year ago. Ore consumption in May totaled 3,882,173 tons, a gain of 396,880 tens over April and 1415488 tons over May, 1935. The amount at docks and furnaces 45% 46% 110 125 1414 B I I e L I I I B S S e P+ L+ ® £ FEGE SPEFIEF RESTESE P4+ +4+ 1+ 44 1++4+ 46% 111 125'% 141% 113 46 18% 967x U+ 144+ 4444+ 44 S2ER ERRFRES E5 L 1% =2% 30% - % 113 + 4 23% +1% 2T% 387y 46 8% 10% 157 341 19 82% 981y 110 124 125 145% 334 28% 17% 55 cash 115'; U S Steel pf (2) . 1607 U S Tobacco pf (7). 118 115% 2 33% Wesson O&S(150c). 116+ 1113 W, 1225 116's W, Pa Pwr pf(7). 10 U S Distributing pf 80'2 U S Gypsum (2) 87 U S Hoffman __ 3313 U S Ind Alcohol (1). % U S Leather vte____ 71 US Leath pr pf vte. 21'; USPipe & F (1%). 7% U S Realty & Imp.. 16% U S Rubber. 47 U S Rubber 1s! 785 U S Sm & Ref (-!) 68'; U'S Sm&R pf (3%). 46'. U S Steel rrnnanlonnSitemnaton > 5 PP R PSR- 40 S 5 United Stores (A) - 57% Univ Leaf Tob (13). 50 UnivPilclstpt ___. 1 Univ Pipe&Rad (d) 1313 Univ P&R pf (d) ... 3's Udl Pwr & Lt (A) " 1'x Vadsco Sales Corp... 3213 Vadsco Sales pf___. 16% Vanadium COrp.... 28% Van Raalte (1)..... 40 Vick Chem (12)___ 434 Va-Car Chemical .. Wabash pf A (d) Waldorf Syst (80c). Walgreen pf (6%)._. Walker (H) (2).__. 17% Walker (H) pf (1).. 512 Walworth Ce. 2's Ward Baking (B).. 47% Ward Baking pf(3). 9% Warner Bros Plo__. 's Warner-Quin (d) ... 4% Warren Bros - Warren Fdry. ). 6a Webster Eiseniohr_ Y -3 o M S TR ® 45 5 9% 14% 26'% 18 6'a 72 104 Ta 8% 257 6% 40% 80ty 103 103 98 98 106 106's 11315 11314 120% 120% 8% 9 5% 64 84l Ba% 39 39w 122% 122% 136 136 22% 22% 21 21% 14 14 3% 3% 44+ IL+++10 78 Wesson O&S pf (4). 91% West Pa Elec (1)A. 87 West Pa Elec pf(6). 96 West Pa Elec pf(7). t Pa Pwr pf(6). 408 106% 108 1134 30s 120% 3 9 7 6% 24 85% 22] 39% 32 1233, 208 136 1 22% ll 21% H' 8's Western Maryland. 6% Western Pacific pf.. Union (a2)._. 343 West'gh'se A B ll). 94’ Westingh'se El (4) + & 22% Weston El 1 (a25¢)_ M 13% White Rk M 8(1.40) 3% White Sewing Mch. 2%, Wilcox Ol & Gas__. 6% Wilson & Co (50¢) _— 70 Wilson & Co pt (6). 44% Woolworth (2.40)__ 56 Worth Pump pf(A). 33% Yale & Towne (60¢) FE FEETL F8& FESFF E55 +1 63% 1T o1z 128" T T T 40 62 61k 62% +2% 42 28% 26% 28 +1% 36 5% 6 +% 41+ ;Flt’l‘i '&9» 424 Young Sp& W (3) 41% Youngstn Sheet & T 11% Zenith Radlo._ 5% Zonite Products._. Approximate Sales of Stocks on the N. Y. Stock Exchange. 11:00 AM.___.. 0 Total snu for the ‘ay. I 290,000 Dividend rates as given in th Ve | payments based on the m:“lbg“o"t‘:?{; 'orr. 'hh:umn““ declarations s Unit of trading less t! not_including extrs e b Paid or being reorganized. year. tAnnual rates— Accumulated dividends. ~a Paid this anies reported in receivership last d Comy ‘xEx dividend with 25,324,575 tons a year ago. One hundred and twenty furnaces were in blast on the last day of May, a gain of one for the month. Loadings of bituminous coal into vessels at Lake Erie Docks continue to run ahead of last year. NASH BOARD ORDERS DIVIDEND OF 25 CENTS By the Associated Press. KENOSHA, Wis., July 9.—The board of directors of the Nash Motors Co. declared a regular dividend of 25 cents a share, payable August 1 to stock- holders of record on July 18. C. W. Nash, chairman of the board, announced the company earned a net profit of $353,51644 in the second quarter, ended May 31, as compared with a deficit of $556,310.09 last year. ‘The balance sheet as of May 31 showed current assets of $28,200,714, Cottonseed Oil. Bleachable cottonseed stron. . July, 8.6 oD September B e o 0. 035; " Dec 9 RE-RR ontracts. Janua includ: and options ruled from Det UAChABEEd 10 & Couple of ponts highe: at the first cail Buyine came speculative inte; in the market as expected. Juiy heid above 13 cents at 13.02 early trading. while October w: Changed At 12.4% and December w points higher at the same fgure tt mostly from trade anc sts. with little offer: were not as & mabeumber. ©.27b; Januars CHICAGO GRAIN By the Assoctated Press. CHICAGO, July 9.— Regaining | leadership late today after being tem porarily subordinated by corn, the | wheat market soared about 2': cents above early bottom levels. Bulges of wheat values at Winnipeg were largely responsible for renewal of strength here. Authoritative estie mates were current that 10 to 12 mil- lion acres of Canadian wheat were in 1 grave danger from prolonged drought and heat, with a good part of this acreage already far gone. Wheat closed nervous, %-1% above yesterday's finish, July 1.06's-1,. Sep- tember 1.06-106!4, corn at 1': dre cline to 's advance, September 787 79; oats unchanged to ': higher. a provisions varying from 2 cents s back to a rise of 10 cents. WHEAT— Open. High. low Close = 1.05%3 1.06% 10475 1.0 10412 1,063, December_ 105 1.07% 1.05 CORN— July v September September July E 4 September_ .. 80 LARD—- July 087 s 85 i 2 11 0 10. - 12.87 * " Chicago Cash Market. Cash wheat, No. 1, red, 1.0814-04; No. 2, red, 1.07%5- 07%: No. 1, dark, hard, 1.117,-12';; No. 2, dark, hard, 1.11; No. 1, hard, 1.11%5-12; No. 2, hard, 1.10%-1113; 1, red, garlicky, 1.06; No. 2, red, g: licky, 1.052; No. 3, red, garlicky, 1.04%; No. 1, mixed, 1.07%-11. Corn, No. 1, yellow, 83%-84; No. 2, yellow, 831,-84; No. 3, yellow, 83; No. 4, yel- low, 81%2-82; No. 5, yellow, 81¢:; No. 1, white, 95-95 No. 2, white, 95« 95%; No. 4, white, 93% ; sample grade, 76. Oats, No. 1, white, 41; No. 2, white, 40; No. 3, white, 36-383%; No. 4, white, 35%-37; sample grade, 34!+ 35%. Soy beans, No. 2, yellow, 1.13, Barley, feed, 40-60, nominal; malting, 6€0-98, nominal. Timothy seed, 4.90- 5.15 cwt. Clover seed, 10.50-16.00 cwt. Liverpool Whest Prices. LIVERPOOL. July § (#.—Wheat fulu!\ closed firm, High. Lom Close & ber 1 Juls &, 3 mber Exchanee. 5.01%. BALTIMORE Juiy 8 m—-wb No. e eat. 85t sty i Newberry (J. J) Co.—June sales were up 18 per cent; 6 months up 9.2 June 1 was 19,242,493 tons, compared against current liabilities of $2,395,623. | per cent. i ,.~ i